Palawan Pawnshop Incorporation / Ahorro, Margarette T.; Alvinez, Arvina P.; Balanquit, Cherry M.; Lopez, Marynhelle L.; Pena, Jan Ralph C. and Yepes, Leander G. 6

Thesis: (BSBA major in Marketing Mnagement) - Pamantasan ng Lungsod ng Maynila, 2017. 56

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Abstract: This strategic marketing plan provides a 5-year strategic marketing plan for Palawan Pawnshop, which consists of : its current situation in the macro level, analysis of the industry's structure, segmentation of its market and customer, getting its market size, computation of markets share as a Non-bank Financial Institution, and knowing its competitors and its competitive advantage. The researchers have conducted a survey to 110 customers of Palawan Pawnshop to obtain the things that it need to improve in order to create strategies and plans. The questions can be found on the appendices. Budget on the strategies are estimated budget based on actual pricing of the things or producers needed. This strategic marketing plan also involves assumptions of best case scenarios, contingency plans which are the substitute plan if the planned strategy does not work the way they are expected to be, and a stated brief way of monitoring and controlling. Palawan Pawnshop belongs to pawnshop industry. Pawnshops are under non-bank institutions that have the capability of offering money to people by exchanging valued items. But now, pawnshops also offer other services, making them a Corollary business. Palawan Pawnshop is owned and operated by spouses. Mr. Bobby and Mrs. Angelita Castro, established on August 17, 1985 in Puerto Princesa, Palawan City. It offers a variety of services; Pawning, Money Remittance, Money Changing, Accident Insurance, Bills Payment and E-loading. They started offering Money Remittances on 2003 as pawnshops are becoming more diverse on the services they are offering. As Palawan Pawnshop expands its services offered, it becomes a direct competitor of Cebuana Lhuilier, M. Lhuillier and Villarica Pawnshop that offers the same or some of the services that Palawan Pawnshops offers. But comparatively, when it comes to Money Remittance, Palawan pawnshop offers the cheapest fees, focusing on domestic remittances, and has the lowest interest rate when it comes to pawning. The target market of Palawan Pawnshop is becoming more and more diverse and larger as it continues to expand and empower its business. Palawan pawnshop was able to create partnership with LBC, Sm malls, and with small pawnshops across the Philippines. The small pawnshops are authorized agents carrying the name of Palawan Pawnshop, providing Palawan Pawnshop to penetrate more in the market as it catches more attention and by scattering its services and name. In the next five years, the researchers visualize the Palawan Pawnshop to become: (1) to be part of the top 3 leading pawnshops in the Philippines; (2) to be the leading pawnshop with the fastest service that has cheapest rates in Money Remittance; (3) to be the top choice of customers when it comes to pawn brokering providing the lowest interest rate but with high appraisal rate. The researchers also want to increase the Market Share Palawan Pawnshop by 1% in Non-Bank Financial Institutions. As of now, it has only a 0.13% share. This will be achieved through increasing its total revenue of 20% by investing more on improving its facilities and services for the next 5 years. The strategies include: establishing a standard layout of its facility; adding things on the facility that can provide safety, security and comfort; hiring new employees; training and educating employees to improve customer service; offering new services while improving the existing ones; and creating advertisement to promote Palawan Pawnshop and to increase customer awareness. Strategies are also aligned with the Corporate Social Responsibility of Palawan Pawnshop as the pawnshop gives a high value on it, due to their beliefs.

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