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INTRODUCTION
History
In 1990, Prince Warehouse Club, Inc. is a chain of retail and wholesale
stores based in Cebu City, Philippines. Founded by Robert L. Go, Prince opened
the pioneering branch at the North Reclamation Area by converting a warehouse
into a store with a single cash register initially selling glassware, kitchenware,
plastic ware and other household items.
A year later, due to a growing demand from customers, Prince Warehouse
Club expanded into selling grocery items, gaining a wide range of customers and
wholesalers. After two years, in 1993, Robert Go opened the 2nd store at A.C.
Cortes, Mandaue City which has a bigger store size than the first. It was again a
successful venture, and was later assigned to Nelson L. Go, the brother who is
now managing the Prince Mandaue chain of stores.
Currently, the Prince group of stores is expanding outside cebu and to the
rest of Visayas and Mindanao. The chain has branches in North Reclamation
Area, Minglanilla, Danao, Argao, and MC CityHall in Cebu, Leyte branches in
Baybay, Maasin, Naval & Abuyog, Mindanao branches in Cabadbaran &
Oroquieta, Negros branches in Silay & Tanjay.
Today, the Prince group of companies upholds the empowerment of its
total workforce through a strong adherence to its values and commitment to
render the highest customer service satisfaction while being a household name
for quality low priced merchandise to the community served.
Marketing Strategy
Prince Hyper-mart is targeting to build up more outlets to double up their
target market share. Prince is aiming to have fifty (50) stores
Philippines by year 2020. It is very self-explanatory that the more stores they
have, the more opportunities they can get. Therefore, Prince Hyper-mart applies
strategies that define the approach, tactics and strategic plan to attract
customers and achieve its business goals. Each strategy consists of short- and
long-term plans outlining the methods and activities necessary to reach
milestones and goals. The Marketing Mix Strategy or 4Ps and Symbiosis
Strategy are employed to achieve their objectives.
The Marketing Mix Strategy or 4Ps
Prince Hyper-mart satisfies the products and services need of its target
market by applying the Marketing Mix Strategy: the 4Ps (Product, Price, Place,
and Promotion).
Prince Hyper-mart 4Ps
Product
Price
Place
Promotion
Price- Pricing is difficult and must reflect supply and demand relationship.
Pricing a product too high or too low could mean a loss of sales for the
organization. The customer's perception of value is an important determinant
of the price charged. Prince Hyper-mart has applied pricing strategy to
generate the maximum amount of profit possible, but not at the expense of
losing customers along the way such as Buy 1 take 1, Buy 4 free 1, Bodega
Sale.
Place - Place in the marketing mix, is not just about the physical location or
distribution points for products. It encompasses the management of a range
of processes involved in bringing products to the end consumer. Prince
Hyper-mart is settled where many people can see them. The location is easy
to find as it is near to school and located to town proper.
Pre-Summer Pahurot Promo ws the latest promo from March 18-27, 2016.
It offers up to 50% discount in selected Department Store items.
pay
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Competitive Advantage
Prince Hyper-mart Naval has great advantages compare to its
competitors. Moreover, Prince Hyper-mart has applied many edges in terms of
business strategies. Great advantages are the following:
External Environment
The external environment of Prince Hyper-mart is those factors outside
the company that affect its ability to function. It includes the following:
1. Gradual development of economy in Naval, Biliran
2. Increase of sari-sari storeowners supported by Prince Hyper-mart
3. Increase of population, including foreigners, in Biliran Province
4. Government regulations in business establishments
5. Interruptions in internet connection
6. Advertisement works well in persuading customers
7. Business operation is very dependent on modern technology
Table 1
SWOT Analysis
Prince Hyper-mart Naval SWOT
Strengths
1. Company is financially stable
2. Marketing capabilities is properly
observed
3. Operation is advantage by the use of
modern technologies
4. Well-trained employees
5. Brand awareness and reputation
6. Encouraging organization culture with
customer centric
Weaknesses
1. Crowded premises for their displayed
products
2. Small parking area
3. Organizational structure is in need for
improvement
4. Vulnerable to vital staff being sick,
leaves, etc.
5. Vulnerable to power interruption
7. Proper documentations
8. Company offers discount through suki
cards
9. Employees enjoy the benefits offered by
the company
10. Company is conserving electricity for Eco
friendly
Opportunities
1. Gradual development of economy in
Naval, Biliran
2. Increase of sari-sari storeowners
supported by Prince Hyper-mart
3. Increase of population, including
foreigners, in Biliran Province
4. Government regulations on grocery
business
5. Advertisement works well in persuading
customers
Threats
1. Interruptions in internet connection
2. Business operation is dependent on
modern technology
3. Market activity of grocery business is
very active
4. Sometimes there is power outage that
causes business interruptions
5. Customers changeable preferences
6. Calamities hinder business operations
10
SWOT Statement
1. Company is financially stable and there is an increase of population, including
foreigners, in Biliran Province (S1 and O2)
2. Gradual development of economy in Naval, Biliran due to increase of sari-sari
storeowners supported by Prince Hyper-mart (S1 and O6)
3. Brand awareness and reputation because of increase of sari-sari storeowners
supported by Prince Hyper-mart (S5 and O2)
4. Vulnerable to power interruption because the companys operation is
dependent on technology (W5 and T2)
5. Marketing capabilities is properly observed as apparently seen in the increase
of population, including foreigners, in Biliran Province (S2 and O3)
6. Vulnerable to power interruption and it can be a threat as sometimes there is
power outage that causes business interruptions (W5 and T4)
7. Vulnerable to vital staff being sick, leaves, etc due to calamities that hinder
business operations (W4 and T6)
8. Increase of population, including foreigners, in Biliran Province and that is the
reason why Market activity of grocery business is very active (O3 and T3)
9. Operation is advantage by the use of modern technologies yet it is vulnerable
to power interruption (S3 and W5)
10. Operation is advantage by the use of modern technologies yet it is a threat
as business operation is dependent on modern technology (S3 and T2)