Marketing Plan for Islands Souvenirs

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A Strategic Marketing Plan of
ISLANDS SOUVENIRS

Presented to the
Faculty of the Department of Business Administration
University of San Carlos
Cebu City, Philippines

In Fulfillment
of the Requirement of the Course
MARK 21 – STRATEGIC MARKETING MANAGEMENT
9:00 AM to 10:30 AM JW440MC MW
1st Semester, AY 2012-2013

Submitted by:

Agapay, Mylyn Jane
Anore, John Paul
Carreon, Joey
Echiverri, Karl Lyle
Grado, Diomedes Jr.
Mata, Hanny Mae
Pedralba, Ilona Jane
Rayno, Mary Nestal
Suan, Aileen

Submitted to:
Maria Angelita Ramona B. Libre-Valles
Instructor

Date Submitted:
October 8, 2012

TABLE OF CONTENTS

EXECUTIVE SUMMARY3
I. INDUSTRY PROFILE
I-A. SITUATION OF THE INDUSTRY
* COMPOSITION OF BUSINESSES4
* INDUSTRY GROWTH/DECLINE PATTERNS4-6
* PRODUCTS AND SERVICES6-7
* CUSTOMER/CONSUMER BEHAVIOR8
I-B. COMPETITOR ANALYSIS9-11
I-C. INDUSTRY ANALYSIS
* PEST ANALYSIS12
* PORTER’S FIVE FORCES ANALYSIS13
II. COMPANY PROFILE
II-A. COMPANY BACKGROUND14
II-B. COMPANY ANALYSIS
* SWOT ANALYSIS15-17
* GROWTH SALES18
II-C. COMPANY’S MISSION/VISSION; GOALS & OBJECTIVES19 II-D. MARKETING STRATEGIES AND PROGRAMS19-20
II-E. MARKETING MIX DECISIONS21-24
CONCLUSION25
RECOMMENDATION25
III. BIBLIOGRAPHY AND REFERENCES
* BIBLIOGRAPHY26
* INTERVIEW26-28
* DOCUMENTATION29

EXECUTIVE SUMMARY

Islands Souvenirs being the best endorser yet for Philippine Tourism has been able to successfully maximize the vast potential this industry has to offer. With outlets strategically located in the various tourist & travel destinations in the country and has since inception traveled even beyond Philippine shores, the company has experienced unprecedented growth in the souvenir retail business as brought about by the vigorous developments in tourism.

Islands Souvenirs offer high quality products which makes their company a recognized and a highly trusted brand name. They have superior designs and they advertise more than their competitors so their brand stays on top of mind more. Every business has its own peaks and fall times. There are also weaknesses Islands Souvenirs is facing. They cannot seem to generate enough sales in malls and in department stores since price sensitive consumers prefer cheaper items. We recommend that they should consider competitive pricing strategy in order to attract local customers in malls.

Islands Souvenirs became popular for its innovativeness in the souvenir industry, so that's what they will always continue to do. Tourism industry is booming in the next coming years, so we will expect an intense competition and the threat of coming entrants. The concept of e-commerce is fast becoming advantageous for both the seller and consumer in today's fast moving and electronically-connected world.

For many businesses, e-commerce is becoming the only option, as companies become more and more interested in expanding their operations online. E-commerce offers advantages that include the ability to expand into global markets with a minimum of expense, thus allowing firms to reach narrow market segments that are geographically scattered. In the long run, Islands Souvenirs would capture all of its possible markets including OFW’s and foreigners that would like to patronize Islands Souvenirs and the Philippines. I. INDUSTRY PROFILE

I-A. SITUATION OF THE INDUSTRY
*Composition of businesses belonging to the souvenir item industry; The souvenir industry outlook is bright, gauging from a Department of Tourism report that foreign travelers usually spend 60 percent of their budget on shopping and some 80 percent of tourism spending goes to souvenirs. Souvenirs comprise a multi-million dollar industry worldwide, yet in the Philippines, the sector remains largely untapped....
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