A strategic management plan for Ramesh Trading Corporation / Lorenz Benedict A. Reynon.

Thesis (M.A)--Pamantasan ng Lungsod ng Maynila, 2019.

A strategic management paper presented to the Faculty of the PLM Business School--Graduate Program in partial fulfillment of the requirements for the degree Master in Business Administration.

This Strategic Management Paper aims to establish feasible strategies for Ramesh Trading Corporation. RTC is the largest houseware and kitchenware company in the Philippines. The company distributes and imports various housewares products to leading department stores nationwide.

The analysis of both internal and external factors of this industry is the main emphasis of this study. Which will, therefore, lead to a competitive, realist and viable strategic plan for the company?

The industry consists of big players, and RTC competes among other established brands and companies in the likes of Tupperware, Chef Classics, Metro Kitchen, Lock and Lock, and Omega. As the competition rises every year, RTC aims to stay ahead of these companies by sustaining and surpassing its current market share at 8.3 %. This will be done through a continuous effort to improve their internal business processes, marketing initiatives, new market expansion,

The company's strategies to make this happen is a mixture of three intensive strategies Market Development, Market Penetration, and Product Development. These strategies were identified through various strategic tools and matrices used to analyze the current activities and strategies used by the company and external factors it currently faces.

The growing industry of real estate and food institutions opened a huge opportunity for the houseware industry in general. Which what RTC wants to capitalize on, and grow their business in. This strategy will not require much investment for the company as of the moment for it will only require them to designate specific sales personnel to handle this opportunity. Religiously looking for tie-ups, attending expos and creating networks will soon create a huge result that will enable them to start the possible market expansion. It will be easier for RTC to introduce its products to these industries for it perfectly complements each other's businesses.

Even RTC is already considered as one of the industry leaders in houseware, they intend to maintain this stature for as long as possible. This will be through, development of intensive and integrated marketing campaigns. Intensifying its online presence may it be on social media or e-commerce, partnership with various influencers and brand ambassadors; conducting cooking demonstrations and other activities that will strengthen the customers' loyalty to the brand.

The company inventory turnover rate has been declining for the past five years and Currently on a 2.18% rate, which was caused by some slow and non-moving products on its portfolio. The management aims to sort this out by studying its current product listing and see which one contributes to profitability and which one should be taken out for it only cause loses and high inventory. This action plan will give way to the product development strategy the company plans to do. Since it was identified that there is a huge opportunity in the real estate industry and food institutions, new product assortment tailor-fit for them will be made. New products will also be developed to cater to the lower-income segment mostly located in the provincial areas of the country, which is also the market that the company aims to grow.

These external strategies will call for internal business process reinforcement. Solidifying its Human Resource is one of the biggest requirements. From re-inculcating the company values to giving more value to the employees, to a better incentive program, adequate training and development, and workforce expansion. The set external strategies will easily come into reality once these internal
adjustments are made.

Once these strategies are fully implemented, monitored and maintained, the Company is expected to gain an increase in sales by an average of 16% from the first two years up to 25% on the years after or essentially an improved financial capacity. A stronger market presence and customers brand loyalty, highly motivated and satisfied employees and a smooth sailing operation of the business.