LIFETIME MEMORIES

Lab 3
Target Market
▪ Generation X (born between 1965-1980, approximately 40-55yr’s old).
▪ Generation Y (born between 1980-1994, approximately 24-29yr’s old).
▪ Business Corporation
▪ Families
▪ Women in their 20’s or 30’s
▪ Business with over 500,000 php annual revenue
▪ Baby Boomers (born between 1946-1964, approximately 56-74yr’s old)
▪ Celebrities
▪ Private Schools
▪ Private organizations

SWOT Analysis
Strengths
• Provide world class service
• Allows venue providers to directly contact event organizers
• Any kinds of institution can create their own plans in regards the event
• Showcase innovative ideas and technology
• Tourism economy
• Offers competitive price
• Hardworking and committed employees.
• Accessible location.
• Job opportunities
• Gives everyone opportunity to have special and successful events

Weaknesses
• Absence of knowledge in event management.
• Low advertising budget.
• Lack of reputation.
• Lack of capital.
• Gap in competitive strengths
• Price inflation
• Slow to address new opportunities
• No long term plans
• Limited resources
• The organization is dependent on public demands
Opportunity
• Lack of dominant competition.
• A growing market that are outsourcing event planning activities.
• The company has the opportunity to expand its global operation
• Emerging of new trends
• Public interest on instagram-mable places
• Potential for growth with social media applications
• Potential for partnership with catering service to work local events
• Market developments
• Innovation and technology development
• Growing demand for event planning
• Expand target market

Threats
• Other social media event planning pages
• Limited availability of dates to book particular venues
• Poor management strategies
• High competition in market
• Unstable economy
• Price wars with competitors
• Competitors have superior access to channels of possible customer
• Rising costs of materials to be used
• The market for event management planning is very competitive
• A competitor has a new, innovative service

PESTLE Analysis
Political
Tax Policy
➢ National taxation system is based on the National Internal Revenue Code of 1997 or the
Republic Act No. 8424 also known as the Tax Reform Act of 1997, as amended.Pursuant
to the provision of Republic Act No. 7160 otherwise known as the Local Government Code
of 1991 which requires all local government units to enact an enabling ordinance for the
imposition and collection of local taxes, fees and charges, this municipality, thru the
present administration, decided to undertake a project known as “Tax Codification”.
Labor Policy
➢ The Labor Code of the Philippines is the legal code governing employment practices and
labor relations in the Philippines. It was enacted on Labor Day, May 1, 1974 by Late
President of the Philippines Ferdinand Marcos in the exercise of his then extant legislative
powers. The Labor Code sets the rules for hiring and firing of private employees; the
conditions of work including maximum work hours and overtime; employee benefits such
 as holiday pay, thirteenth-month pay and retirement pay; and the guidelines in the
organization and membership in labor unions as well as in collective bargaining.
Zoning Ordinance
➢ This Ordinance shall be known as the Comprehensive Zoning Ordinance of the City and
shall be referred to as the Ordinance. This Ordinance is enacted pursuant to the provisions
of the New Local Government Code, RA 7160, Section 458 a.2 (7-9) and 447 a.2 (7-9),
dated 10 October 1991, Authorizing the City, through the Sangguniang Panlungsod to
adopt Zoning Ordinances, subject to the provisions of existing laws and in conformity with
E.O. No.72.

Economic
Inflation
➢ The Philippines’ inflation rate seems to have leveled off after peaking at more than 5
percent in 2018 and jumping up and down a few years prior. The Philippines are
considered “newly industrialized”, but the economy relies on remittances from nationals
overseas, and the services sector generates most of its GDP.

Exchange Rate
➢ In November, the Philippine peso (PHP) weakened against the U.S. dollar, continuing a
trend that began in early August. On 11 November, the currency traded at 48.96 PHP per
USD, the weakest value since 29 April 2009. This was 0.4% weaker than on the same day
of the previous month and 4.0% weaker on an annual basis. The currency has lost 4.3% of
its value since the beginning of the year.
 Economic Growth
➢ The Philippines GDP contracted 15.2 percent quarter-on-quarter in the June quarter of
2020, after a 5.1 percent decline in the prior period. This was the deepest quarterly
contraction on record, as the COVID-19 pandemic took a huge toll on the economy.
Industry output collapsed (-21.7 percent vs -8.4 percent in Q1)

Social
• Employee have an insurance when accident happen and we ensure that our staff complete
requirements.
• Strong Media Interest
• Social Safety and Benefits
• We have website so that we can present/advertise our company events.
Technology
• Technological
• High security and privacy requirements
• Communication
• Changes in information technology

Legal
• Regional Laws
• Legal Partners
• Guidelines
• Law enforcement and National Security

Environmental
• Ecological
• Resource Management
• Workforce Health
• Carbon Footprint

Competition Strategies of the Company

Improve Logistics in order to be able to offer everyday low pricing products, event planning has to reduces
it operational cost through having better logistic systems. Event like Big Bazaar should implemented
several steps to improve its logistics systems such as relocate center using more
• Computer Services
• Minimizing inventory level
• Using big stores as contemporary sub-warehouse for smaller satellite store.
Reducing Wastes in order to achieve low cost focus strategy, this can be achieved from reducing over-
ordered for fresh food product which leads to redundant waste products, having better ales forecast with
help from computerizing systems, better tools and equipment to handling and transporting products.

INCREASING THE EFFECTIVENESS OF THE STORES

Big bazar has offered several training sessions for store managers. Deputy store managers and other key
personnel of the stores about how a store can increase the effectiveness of its employees. According to big
bazar. The effectiveness of employees can be improved through exercise more strictly reward and
punishment systems, maximum time limit for each particular task. Incentive and bonus program further
education and promotion opportunity.
WITHDRAWING UNPROFITABLE PRODUCTS

Big bazar has made decision to withdraw all weak items stores. In the recession period. Big bazaar focuses
its product offer character ristics on economy, durability, and functionality. Undemand products also from
the stores.

DIFFRENTIATING PRODUCT RANGES

Big bazaar has changed its product offering in its store. the offers focus on multi- purpose goods over
specialized products. Big bazaar also allocates extra effort to introduce new products in some key areas of
its stores to maintain its strength over its competitors. Added different type of FMCGand electronics
products.

DIFFRENTIATING PROMOTIONAL PROGRAMS

➢ Big bazaar has also focused to allocate some of the promotion to point of sales (POS)
promotion from which the consumer can gain value immediately such as “buy more, pay less”
in which customers gain 5% more discount if the value of products they buy more than INR
500, and the bonus will increase to 10% of total products if they buy more than INR 500 and
the bonus is 20% if customers buy more than INR 3000, customers get bonus immediately at
the time they pay for their purchases as the bonus is deducted immediately from total amount.
➢ Big Bazaar implements is inviting the customers coming to its store and attending the lottery
for winning its products. Big Bazaar organizes also once a month sampling activity in which
customers can taste its products and buy these products with discounted price in these days of
product-sampling.
➢ Big bazaar increases their promotion on the internet, TV and other media. Customers can
study the coming campaign products on the company websites. They, further, can give
feedback, ask questions, or give recommendations related to products offering. Related to
promotion via TV advertising, Big bazaar now focus more on the most effective time of week
day (especially Wednesday offer). According to big bazaar records, people in India do more
shopping at the weekend. Thus, big bazaar focuses their TV advertising on Thursday and
Saturday, and remove TV advertisements for Monday-Wednesday.
➢ In every two weeks, big bazaar launches different product-campaign such as Healthy Products
Week, Rice Week, Dal Week, Luxury Products etc. These have created more excitement to
customers to come to the stores to shop despite of the effects of economic crisis.