Download - Equitable Money Changer Inc
EQUITABLE MONEY
CHANGER, INC.
EQUITABLE MONEY CHANGER
VisionEquitable Money Changer envisions to
be the leading foreign currency exchange company
in the Philippines.
MissionEquitable Money Changer aims
to build a strong relationships with our valued customers
based on trust and reliability.
EQUITABLE MONEY CHANGER
GOAL
Equitable Money Changer intends to make a gigantic customer base through
offeringvery competitive exchange rate based on real-
time market conditions.
COMPETITORS MATRIX
A chart that compares your product or service to your competitor(s). A competitors matrix is an analysis tool that helps you establish your company's competitive advantage. It provides an easy-to-read portrait of your competitive landscape and your position in the marketplace.
Source: http://www.entrepreneur.com
MARKET COMPETITION
To determine the viability and competitiveness of a proposed business. It is very essential to find out if there are competitors within 100 meters away from our location.
In analyzing competitors, they should be classified into two (2) groups, namely;
Direct Competitors – those activities are directly related to your proposed business.
Indirect Competitors – those activities may impact or affect the behaviour of your business.
After the two-day mapping of competitors
conducted, by the researchers, last December 03 & 04, 2010. They found out that indirect competitors are widespread in the area such as retail stores, computer shop, grill and restaurant, banks, pawnshops, malls, and among others.
However, there are five (5) direct competitors operating within 100 meters from the intended area. They are as follows:
DIRECT COMPETITORS
Business Name AddressH.A.K Money Changer #2506 M.C Prado Bldg., Claro M. Recto Ave., Manila
AGUIRRE PAWNSHOP #828 M.V. Delos Santos St. Sampaloc, Manila
PALAWAN PAWNSHOP#1954 Doña Faustina Bldg. C.M. Recto Ave., N.C.R.
JMC (Jun Money Changer) #1906 Doña Faustina Bldg. C.M. Recto Ave., N.C.R.
TAMBUNTING PAWNSHOP #1658 MORAYTA ST. COR. ESPAÑA ST. SAMPALOC, MLA.
MARKETING MIX The ”marketing mix” is probably the most famous marketing
term. Its elements are the basic, tactical components of a marketing plan. Furthermore, it is famously known as Four P's, namely; Product, Place, Pricing and Promotion. The reason for studying this are defined below;
a. Product-which must be differentiated from its rivals' products.
b .Price- which must be low and reasonable enough to be competitive.
c .Promotion- how customers will hear about the product or proposed business.
d. Place- where the customers will find the product and how it will be distributed to them.
Marketing Mix
4 P’S
H.A.K MC AGUIRRE PAWSHOP
PALAWAN
PAWSHOP
JMC TAMBUNTIN
G PAWNSHO
P
PRODUCT -Money Remittance- Money Exchange
-Pawnshop -money remittance-money exchange
-Pawnshop -Money Remittance -Money Exchange
-Buy SM and Robinsons Gift
Certificate -Money
Exchange
-Mortgage-Money Remittance-Money Exchange
-Bill Payments-Airline Ticketing
PLACE #2506 M.C Prado Bldg., Claro M.
Recto Ave., Manila
Beside San Sebastian
College-Recoletos
#828 M.V. Delos Santos St. Sampaloc, ManilaAmid residential area of Sampaloc and U-belt
#1954 Doña Faustina Bldg.
C.M. Recto Ave., N.C.R.
NEAR U.E.-RECTO
#1954 Doña Faustina Bldg.
C.M. Recto Ave., N.C.R.
NEAR U.E.-RECTO
#1658 MORAYTA ST. COR. ESPAÑA ST. SAMPALOC,
MLA.
U-belt area, along Far Eastern University
PROMOTION Thru tarpaulin signage
Signage and tarpaulin inside and outside the store
Thru website and tarpaulin
thru signage and published
in PLDT directory
thru Websites, print ads and Brochures.
PRICE 10 centavos increase from the actual buying rate issued by banks, particularly Banco De Oro & B.P.I..
5% - 10% higher than the competitor
Less than 15% - 20% of the exact
buying rate
Less 10% from the buying rate issued by BSP and a 20% for
the service charge
They rely on the daily exchange rate given by the BSP.
H.A.K MONEY CHANGER
PRODUCTMoney Remittance Money Exchange
PRICE10 centavo increase from the actual buying rate issued by banks, particularly Banco De Oro & B.P.I..
PLACE
Beside San Sebastian College-Recoletos
PROMOTIONThru tarpaulin signage
NOTE: the owner is Iranian national.
TARGET MARKET
Iranian Foreign Students
AGUIRRE PAWNSHOP/MONEY CHANGER
PRODUCTPawnshop , money
remittance, and money exchange
TARGET MARKETForeigners and
Filipinos
PLACEAmid residential area of Sampaloc
and U-belt
PROMOTIONSignage and tarpaulin inside and outside the
store
PRICE5% - 10% higher than
the competitor
PALAWAN PAWNSHOP/MONEY CHANGER
PRODUCT Pawnshop ,Money
Remittance and Money Exchange
PLACE
NEAR U.E.-RECTO
PROMOTIONThru website and
tarpaulin
PRICELess than 15% - 20% of the exact buying rate
TARGET MARKETAny person who has dollars and wants to convert it into peso. Moreover, to those
who wants to borrow money through pawning & collateral
JMC (JUN MONEY CHANGER)
PRODUCTBuy SM and Robinsons Gift
Certificate &Money Exchange
TARGET MARKETforeigners, OFW and
people who has dollars and gift checks
PLACENear U.E.-Recto
PROMOTIONthru signage and published in PLDT
directory
PRICELess 10% from the buying rate issued by BSP and a
20% for the service charge
TAMBUNTING PAWNSHOP
PRODUCTMortgage, Remittance,
Money Exchange,Bill Payments, &Airline Ticketing
TARGET MARKETAny person who wants to exchange/transfer
their money. Also, to those who want to borrow money through pawning & collateral.
PLACEU-belt area, along
Far Eastern University
PROMOTIONthru Websites, print ads and Brochures.
PRICEThey rely on the
daily exchange rate given by the BSP.