MARKETING PLAN

“ECOsplay Boutique”

In partial fulfillment of the requirements in

HBK 121 (Principles in Marketing)

Submitted To: Mr. Arnelson B. Meneses

Submitted By:

Catayas, Sandra J.

Corpuz, Jarelle C.

Cruz, Erika Jill M.

Go, Ma. Hannah T.

Menia, Dane Marielle G.

Tayson, Nicole L.

Yabillo, Francis

October 23, 2019

I. Executive Summary

One of the main problems in our society is the rapid growth of garbage due to lack of

discipline and improper waste segregation. Some individuals do not know how to dispose their

wastes in an appropriate way. It is so hard for them to keep their trash when they are in public

place which results for them to just throw it away. Also, people treat proper waste segregation as

difficult and time consuming which results to their action of keeping biodegradable and non-

biodegradable in the same repository. Everyone is responsible of the actions we do every single

day. In order to stop this epidemic, we must implement or build an organization or a business

which aim is to lessen the garbage and help the society in achieving an environmental place.

ECOsplay Boutique is a company that offers costumes for aspiring and current cosplayers

with the use of materials that are recyclable. Plastic, plastic bottles, newspapers, and unused

papers are some of the recyclable materials that our company uses. Our company also offers

these costumes in an affordable budget with high-quality products for the sake of our target

market which is youth that want to pursue their passion without spending too much. It is located

at Makati City, Philippines since it is known for its cosmopolitan culture and it is the place where

major companies and shops lie. Interested customers could reach us through our Facebook page

– ECOsplay Boutique and through our contact number 561 7623.

II. Business Overview

ECOsplay Boutique is a corporation which was built on year 2018 by six individuals who

serve as the key people behind the company. It is located in Makati City which is dubbed as the

"Wall Street" of the Philippines and considered as the country's center for business and

commerce. Due to the excessive growth of wastes in the Philippines, the key owners have

decided to create a business that would lessen the waste of the country while fulfilling the desires

of some Filipinos especially the youth who love to do cosplay. Their goal is to keep on top of

consumer trends particular in costumes and their constant and fluid changes to remain our

business profitable. In our generation of social media, we aim to increase our range of

opportunities for potential customers who want to buy our products. Lastly, ECOsplay Boutique

aims to lead and enhance the development of the fashion industry through the implementation of

3r's.

The costumes offered in this boutique have a high quality despite of it is made from

waste. The process of making these costumes are being prioritize. Before making these, the

company ensures that the wastes undergoes the process of disintegration and disinfection to

avoid problems and complications. ECOsplay Boutique also offer different options and choices

to give importance for the customers’ preference. This includes the price of the product.

ECOsplay Boutique provides cheaper price than other stores or boutiques. They produce original

and unique designs that can only be found in their boutique.

The location of the store also serves as the vantage point for the business since the store

is situated at Makati City which is considered as the country's center for business and commerce.

The store is highly visible and accessible. Due to its location, the target focus of the business

includes the businessman/woman who wanted to merchandise our product and to those who
loves to cosplay. The store itself has a good ambiance where customers can enjoy their time

while buying a costume. The store is also equipped with free Wi-Fi Internet service to share and

promote the boutique.

The business is already registered in the City Tourism Operations Office; thus it is

gaining attention not only from the locals, but also from tourist visitors from nearby cities and

provinces.

Operations

The store operates 16 hours, from Sundays to Saturdays including holidays. It has 20

employees consisting of one (1) manager, one (1) supervisor, one (1) IT technician, three (3)

salesperson, one (1) driver, two (2) cashier, nine (9) costume makers and designers, one (2)

security guard personnel – with a 24-hour shift within a day. First, the primary role of

a manager is to ensure the daily functioning of a department or group of employees. The

manager also motivates staff and creates an environment where employees thrive. Second, the

supervisor's main job is more concerned with orchestrating and controlling work rather than

performing it directly. He/she is also responsible for the productivity and actions of the

employees. Third, IT technician is responsible for managing the network servers of the company.

Fourth, the three (3) salespersons are tasked to greet customers and ascertain what each customer

wants or needs. Fifth, driver undertakes various transporting duties. He collects the items and

transports them to their destinations. Sixth, the cashiers’ main duties include ringing up sales,

bagging items, requesting price checks, honoring coupons, collecting payment and giving

appropriate change. Seventh, the nine costume makers and designers are the one who create the
clients' costumes. Lastly, the security guards are in charge in patrolling property, monitoring

surveillance equipment, and permitting entry.

III. Market Analysis

Current Products/Services

ECOsplay Boutique offers a variety of choices when it comes to designs of costumes and

is well known for its main item for consumption, which is the costumes made by recyclable

materials. It is the first time in its line and level of business to offer this kind of clothing line,

which 300 pesos can afford an amazing eco-friendly costume. In fact, when the owners first

introduced it in the market, initial customers readily patronized the product due to its uniqueness

and eco-friendly feature. Furthermore, ECOsplay Boutique is open sixteen (16) hours to serve

the customers from 8 o’clock in the morning until 12 o’clock in the evening.

Current Target Market

ECOsplay Boutique target market is those who practice of dressing up as a character

from a work of fiction, such as a comic book, video game, or television show. In short,

cosplayers. In addition, those who are price-conscious and highly sensitive to the latest fashion

trends are also part of the target market. ECOsplay Boutique is located in a business area where

there are many clothing stores so that the potential customers will easily locate it. There are also

a lot of establishments like schools and shopping centers. These establishments constitute the

initial and potential customers. One of the major contributor of the store market share are the

students enrolled in the different schools near the store. The price of the costumes of being sold
ranges from P300 up to P2,000 which is very affordable for the target market especially to those

who are mostly budget conscious.

Main Competitors

In terms of popularity, the main competitor of ECOsplay Boutique is Costumes Makati

which is located at Magallanes Village, Makati City, Philippines. In order to make the customers

aware of our new-built business, we must plan actions regarding promoting our business offers

and executing it effectively. Our company must serve and offer products consistently. Also, we

must focus on making each costume’s quality better and offer those with a budget-friendly price

by looking for raw materials and supplier that have lower prices. Aside from our companies’

main competitor, there are also some boutiques in Makati City that could be also considered as

competitors.

Current Market Strategy

ECOsplay Boutique is absolutely different from other businesses that offer costumes for

cosplayers because we value recyclable wastes than buying raw materials in making costumes.

Despite of this, our company understands our current standing in the business world since we are

just starting to create relationship with the customers and society itself. Furthermore, our

company understands the situation of our target customers which is youth whose passion is

cosplaying. In connection with this, we are making sure that the products and its quality as well

as the price that we offer is feasible and would satisfy the needs and wants of our customers.

Aside from this, our business is currently building a signature name and position in

business industry, creating relationship with the customers, and making sure that our business
would help the society in terms of rapid growth of wastes. On the other hand, our business also

assures that we have good relationship with the employees and other staffs in our company for us

to make our business work in a much better way.

Focusing on our target market is another way of making our business work. Satisfying

their needs and wants and showing that our company cares for our customers.

External Assessment of Forces or Factors Affecting the Market

Economic Forces

Economy is one of the most determining factors to the success of the company even

though it is an external element. Within the economy, some contributing factors such as the

fluctuation of interest rate, economic crisis, and so on directly and strongly affects the

consumption of buyers, and consequently, the profits of businesses. No external factors affect

business more than an economic condition, which is the present state of the economy. As the

economy goes through expansion and contraction, its condition changes over time. Positive

economy condition can be favorable for business development and adverse ones may generate

negative consequences such as narrow down business scale, capital shortage or even bankrupt.

New Competitive Forces

Few companies are alone in their fields for any length of time. Once one organization

discovers the next great thing, others are certain to follow. Even entrenched companies with

strong brand equity can be subject to the impact of competitive forces. Because the competitive

environment is constantly changing, our company must adapt to these changes by modifying our
strategic plans to reflect shifts in our own strategies — to introduce new products, modify

existing products, or change marketing strategies.

Consumer Sensitivity

Price sensitivity

It is one of the key factors affecting to companies pricing choices as well as its

ultimate profitability. Nowadays, customers are well informed about product or service

alternatives, product benefits, features, qualities and prices through family members, peer

groups, opinion leaders, social networks, public information sources, and newspapers. Price

sensitivity is an individual difference variable describing how individual consumers show

their reactions to changes in price levels. Price Sensitivity is the awareness of the consumers to

what they perceive about the cost within which they will buy a particular product or service.

Each customer will have a certain price acceptability range and different customers have

different limits in their perceptions of what price is within their ranges. Customer perceptions

of price and their responses to price indicate whether a market is very price sensitive or not. So,

to get the customers attention, we, ECOsplay Boutique offers not just Eco-friendly costumes but

also a friendly price ranging from 300 up to 2,000.

IV. Marketing Strategy

a. Higher Market Penetration

The fashion industry is one of the most dynamic and thriving industries in the world. It

combines a vast variety of activities, from the proper production of products, the transformation

of prime materials, and the creation of articles of clothing, shoes, and accessories, among others.

(blog.kolau.com) It’s essential to open effective lines of communication with your target market

such as social media networking sites. The social media page contains an updates, price,

varieties, and all necessary data about the shop.

b. Develop new products/services for existing customers

In developing new products for existing customers, it is suggested to have a promo called

“living your passion” from 1:00 to 4:00 in the afternoon where aspiring cosplayers are given

the chance to avail their desired costumes with a discount of 10% from the total bill. This

proposal is expected to provide much higher profit for the business but it would be also

beneficial for the customers. Another promo event is called “make it happen” where

customers could attend the so-called event and learn how to use the costumes in an easier and

more convenient manner. This promo is going to be open for first 100 costumers that would

sign up. Lastly, it is suggested for the business to have a so-called “suki card” for those

customers that are going to be loyal and avail costumes from time to time. There is a set of

criteria before a customer could avail the loyalty card.

 c. Develop new products for new customers

Since ECOsplay Boutique focuses on making costumes out of recyclable materials, the

business will create and develop more eco-friendly and affordable but high-quality costumes

to satisfy the needs and wants of the intended customers as well as saving our environment.

Glow up your look: Glamorous costumes that are made up of shiny-kind of plastics

Paperiffic: Affordable but unique costumes that are made up of papers.

Market Stability

Aside from having am affordable products, the business should be easy to locate and

contact through telephone, social media, and the likes. Maintain the uniqueness and quality of

the store's products to meet the varying demands of the customers.

Cost Control

In producing products, it is really important for the businesses to look for reliable and

affordable suppliers of raw materials especially that our business is going to use recyclable

materials in making costumes. Proper monitoring should be done to avoid having mistakes in

recording transactions that could affect the whole operation of the business.
V. Marketing Objectives

a) Target Market Objectives

a.1) Maintaining or increasing market share

a.2) Developing new products/innovation

a.3) To satisfy the customers

a.4) To increase profit for the growth of the business

a.5) To create good image

a.6) To attract new customers

b) Promotional Objectives

b.1) Brand recognition

b.2) Brand image

c) Market Research

c.1) Gather details about customers perception about the brand

c.2) Make well-informed decisions

c.3) Determine the market size

c.4) Learn about customers preferences

d) Product Development

d.1 To improve its quality

d.2 To make the product attractive

Financial Objective

a) Generation of revenue

Projected costs for the product sold

Advertising strategies and cost

Profit projections and monitoring

VI. Marketing Implementation (Tactics)

a) Target Market

Strategy 1: Track customers and know their demographics

Assigned personnel: Security Guard

When: Every month

Budget cost: None

Strategy 2: Provide a survey questionnaire for the customers to evaluate their experience

in buying products

Assigned personnel: Sales person

When: Every 2 weeks

Budget cost: None

b) Product

Strategy 1: Hire workers that have a knowledge in cosplay

Assigned personnel: Manager

Time frame: 2 months

Budget cost: Professional fee/materials –P3,000

c) Promotion

Strategy 1: Free customize shirts for the first 30 customers

Assigned personnel: Supervisor for the approval and cashier

When: Quarterly

Budget cost: Solicit from suppliers or sponsors

Strategy 2: Monthly Promos –For every P1,500 total bill, customer will get 10% discount

When: Monthly

Budget cost: Discounted Price – P75 plus Tarpaulin P250

Strategy 3: Social media pages that contains all the necessary information about the store

and its products

When: Every week

Budget cost: Internet Fee – P999

 d) Pricing

Strategy 1: The pricing scheme of the costumes will be appropriate for the new strategies

which will be implemented together with the other strategies

When: Quarterly

Budget cost: Will change quarterly

Strategy 2: The pricing will be on a par with the competitors, and the cost will be in line

with the cost of materials

When: Quarterly

Budget cost: None

VII. Risk Management

ECOsplay Boutique is a business engaged in fashion industry, which has potential growth

as there are prospects in demand increase in the locality due to change of lifestyle of the people

within the city proper. The ready-to-wear costumes with unique materials have been appealing to

the market for some time now.

Identifying the Risk

Inherent in this kind of business is the exposure to recycled materials. The possible risks that are

currently identifiable in the business are the following:

 Low Quality

 Slow Recognition from Customers

 Existing Competitors of the Business

Analyzing the Risk

The enumerated risks as aforementioned were determined through observation. The management

then analyzed these risks in terms of the probability of occurrence and the impact of these risks

on the business. Aside from these, the analysis also contains the cost involved and consequences

of the events.

Evaluating the Risk

Risks are evaluated on the priorities, rate of likelihood, and the cost of occurrence.

Treatment of the Risk

The following treatments are presented in order to minimize the possible losses or the incurrence

of the cost in the business. These risks are inevitable in the industry. The ECOsplay Boutique

acknowledges the possibility of occurrence; that is why we set these risk management guidelines

to be prepared if this kind of event will occur.

We, the owners, must spearhead the monitoring of the situation and must convey to the

employees the information in order for them to be acknowledgeable of the situation. Risk

management needs frequent monitoring and evaluation by the management in order to reflect the

actual situation of the business. This serves as an indicator and not an absolute solution to the

problem.