Company strategies for Merriam & Webster Bookstore (Binondo Branch)

Date of Publication

2001

Document Type

Oral Comprehensive Exam

Degree Name

Master of Business Administration

College

Ramon V. Del Rosario College of Business

Department/Unit

Decision Sciences and Innovation

Abstract/Summary

Merriam and Webster Bookstore (Binondo branch) is a corporation duly engaged in the business of retailing, as well as wholesaling of school and office supplies. It became operational on the year 1993. After two years of bad business, there was change of management with Boss Company Inc., stepping in the picture. Though it may not have started out well, through the years the store have steadily held its own that is-in providing for quality products and services at reasonably affordable prices.

The said Merriam and Webster Bookstore is located right at the heart of the busy, predominantly commercial district of Binondo. Thus it is understandable that the store's target market are those that are around the so-called Chinatown area. Particularly targeted are the students, teachers, and administrators of nearby schools, employees and employers of office, and finally, the young and the old of every household around the vicinity. In other words, the store's market size, tapped and otherwise, is simply tremendous. In numerical terms, we are talking here of more than 20,000 strong Filipino - Chinese residents in Binondo. Plus, a more significant number is seen on the store's surrounding areas, particularly, the 40,000 nearby residents of San Nicolas and the huge Santa Cruz market, numbering more than 120,000. Other target markets include Tondo and Quiapo. All in all, the market size of the store would reach a total of nearly a million people, pertaining to the Santa Cruz area and its entirely, but not limited to it.

Considering the presence of an obvious market around the area, it follows that competitors abound. Although it is true that known bookstore giant, National Bookstore is conspicuously absent from the picture, and so are tougher competitors such as Goodwill, Gobson's, Expressions still competition is considered as very stiff. What with the presence of smaller, yet more experienced retail and wholesale stores of school and office supplies.

The vision of the company is simple and direct to the point, be the best at what the company could possibly be, which is in terms of doing retail and wholesale service to all. And like any other business enterprise, the company has goals and objectives to go with this. But there are two basic issues and/ or concerns that the company has to address, which are: Is the company doing the best job as to capturing its huge market potential? And second, Is the store prepared to battle National Bookstore, in case it decides to join the fray? In answer to these issues, comes our strategic goals: to continue to provide innovative, quality and inexpensive products, to grab a larger market, and last but not the least, to become as popular as NBS. Add to these, the company's financial objectives, namely: to jack up its sales by at the very least, 20% yearly for the next 5 years and to continue with this kind of momentum for years to come, as well as to cut down on useless company expenditures.

And to achieve these, shall we say, ambitious goals and objectives, a step by step, comprehensive strategies were proposed in main areas of the company, such as, policies, marketing, operations, human resource, information technology and customer service. In details, the more significant, noteworthy steps to be taken are the following: working more with sales agents as to reach, unreachable markets, increase their commissions, provide for quotas. To boost sales, marketing strategies, like for example home-to-home selling, telemarketing and internet shopping must be studied and immediately implemented. To boost the name of Merriam and Webster Bookstore, advertising efforts must be pushed to its limits. This would help the company gain the all-important loyalty of the general public. Which in the long run, translates to increases in company sales. Other things to look into, this time, to garner bigger sales volume are the store's inventory. Here, what we should do is simply to move in new, innovative products and move out slow merchandise, as quickly. Moreover, improve store performance, by looking into the efficiency of its employees, operations and systems.

Finally, we would come up with a five-year financial projection for the company. Basically, this aims to explain in numerical terms, just how big a contribution, each of the newly implemented strategies have helped in the attainment of our set objectives and more. Hopefully, all the research and analysis worked on would help equip the company, its store, the necessary tools, not merely for survival purposes, but more importantly gain that competitive advantage to measure up, if not to actually beat its competitors.

Abstract Format

html

Language

English

Format

Print

Accession Number

OCE1106

Shelf Location

Archives, The Learning Commons, 12F Henry Sy Sr. Hall

Physical Description

1 v. (various foliations) ; ill. ; 28 cm.

Keywords

Retail trade--Philippines; Merriam & Webster Bookstore

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