Quilala, Mariela Joy S.; Lavarias, Jennifer N.; Alvarez, Joanna Marie B.; Delos Reyes, Shiela Mae C.; Pucan, David Ram F.; and Dizon, Rahim,
St. Peter Life Plan, Inc
- Undergraduate Thesis: (BSBA major in Marketing Management) - Pamantasan ng Lungsod ng Maynila, 2017.
EXECUTIVE SUMMARY: St. Peter Life Plan, Inc. is a Pre-Need DeathCare Company that offers affordable traditional memorial life plans to all segments of society. Since 1970, it has maintained its leadership and excelled in its role as DeathCare Experts in the DeathCare Services Industry through the continuous development of its wide range of memorial products and services attuned to the changing needs of Philippine society. On the year 2013, death care industry’s market size took a double digit; 22 billion based on the total sales which amounts 1.1. billion divided by in a market share of 4.89%. The estimated total population on year 2013 is about 105,720,644 and there are 531,280 or 4.95 deaths per 1,000 populations as estimated. The number of buyers depends on how many deceased people or departed in a family. The number of buyers of the death care industry is neutral because the demand for funeral service is inelastic due to; there are no substitutes the death care industry unlike in the other industry. St. Peter Life Plan market segments into adults; young adult, middle age, and old age. These refers to the social classes B, C and D who usually refers to the workers, housewives, employees etc. Young adults are the youngest group in making life plan about funeral decisions which refers to the persons who are in the ages of 25-40. The primary target market of St. Peter which are in the middle age; refers to the persons who are in the age of 40-60 years old. While the secondary market is the old age and the age ranges from 60-70 above. In terms of income, St. Peter Life Plan consumer segments in the choices preferable by the buyer. One of the central considerations for a consumer in deciding upon their purchasing behaviors is their overall income or wage levels, and thus their budgetary constraints. In the world of death care industry. St. Peter Life Plan’s competitors are the La Funeraria Paz, Loyola Chapels, Arlington Memorial Chapels and Cosmopolitan Chapels. These company considered as the top leading competitors because of different offerings and their existing wide variety in terms of providing services. As we go along, we came up to the expansion of St. Peter Life Plan’s services. Because we want to have a strong brand awareness to be competitive in the death care industry. We provide additional services to create all-in-package which includes the catering services, chapels/showroom arrangement and floral symphony. With these, it makes the St. Peter Life Plan different to its competitors because it would be the first death care industry that would offer a complete package in availing a life plan. Our product’s strength would be the monetary assistance that is provided when availing, high growth rate and domestic market. In terms of weaknesses, St. Peter Life Plan cannot control the shifting cultural trends of its target consumers. Because it is inevitable, the company must adapt into the new generation in able to be chosen of life plan consumers. The pricing strategy will be available in 2 choices; the current member can avail the additional service by selecting their chosen set in Catering and chosen set in Showroom Arrangement and it will be charged directly to the current package wherein the additional service can be paid annually, quarterly or monthly or it can be offer during claiming the finished package by simply availing on cash the additional services. The partnership of the Ignacio’s Catering and Dangwa Florist would be a great opportunity for the St. Peter and its members, 20% share of the additional fee will go to St. Peter in every transaction. To have a greater brand awareness, St. Peter Life Plan’s proposed products/services will use different promotional efforts to reach its target consumers. We created the innovation of the website of St. Peter L:ife Plan that will include the newly services of the industry. Also, we have the all in one booklet that will be full of things that potential life plan holders need to know like advantage of having a life plan and the packages to avail. Spreading the news through an awareness talk for the potential customers will also help to promote the products. The all-in-packages includes the catering service, chapel arrangement and floral symphony. Its primary purpose is that to generate more sales, increase brand awareness as well as to provide hassle-free transaction on their target consumers. We aim to be the top death care industry in the mind of the consumer so that we have created fresh services that will surely attraction of life plan customers. All company has its goals and objectives in order to stay competitive over a long run. For St. Peter Life Plan, the long term objectives are to employ professionals who create success for customers, effectively developing and engaging employees, to expand sales to the global marketplace, and to increase efficiencies through the use of wireless or virtual technology. And for its marketing objectives, it aims to increase company sales by 3-7% in the next years of implementing the strategies, to achieve profit generation by wide-range promotion and to become one of the top three brands in our industry named among consumers. Since we are intangible, our strategies for St. Peter Life Plan involves the physical evidence people and process. For the physical evidence, we have decided to improve the interior appearance of the branches because some customers are dissatisfied with the interior DESIGN OF St. Peter Life Plan office branches. They see the appearance of the branches as plain and effortless. For the people strategy, we have the special training and seminars for the agents of the St. Peter Life Plan because people are the key to a successful business, having intensive trainings for the front liners and agents of St. Peter will enhance their mindset to give their life plan holders the best service they’ll ever need. Lastly for the process strategy, we’ve illustrated how will a consumer entertain when at the St. Peter Life Plan branch.
EXECUTIVE SUMMARY: St. Peter Life Plan, Inc. is a Pre-Need DeathCare Company that offers affordable traditional memorial life plans to all segments of society. Since 1970, it has maintained its leadership and excelled in its role as DeathCare Experts in the DeathCare Services Industry through the continuous development of its wide range of memorial products and services attuned to the changing needs of Philippine society. On the year 2013, death care industry's market size took a double digit; 22 billion based on the total sales which amounts 1.1. billion divided by in a market share of 4.89%. The estimated total population on year 2013 is about 105,720,644 and there are 531,280 or 4.95 deaths per 1,000 populations as estimated. The number of buyers depends on how many deceased people or departed in a family. The number of buyers of the death care industry is neutral because the demand for funeral service is inelastic due to; there are no substitutes the death care industry unlike in the other industry. St. Peter Life Plan market segments into adults; young adult, middle age, and old age. These refers to the social classes B, C and D who usually refers to the workers, housewives, employees etc. Young adults are the youngest group in making life plan about funeral decisions which refers to the persons who are in the ages of 25-40. The primary target market of St. Peter which are in the middle age; refers to the persons who are in the age of 40-60 years old. While the secondary market is the old age and the age ranges from 60-70 above. In terms of income, St. Peter Life Plan consumer segments in the choices preferable by the buyer. One of the central considerations for a consumer in deciding upon their purchasing behaviors is their overall income or wage levels, and thus their budgetary constraints. In the world of death care industry. St. Peter Life Plan's competitors are the La Funeraria Paz, Loyola Chapels, Arlington Memorial Chapels and Cosmopolitan Chapels. These company considered as the top leading competitors because of different offerings and their existing wide variety in terms of providing services. As we go along, we came up to the expansion of St. Peter Life Plan's services. Because we want to have a strong brand awareness to be competitive in the death care industry. We provide additional services to create all-in-package which includes the catering services, chapels/showroom arrangement and floral symphony. With these, it makes the St. Peter Life Plan different to its competitors because it would be the first death care industry that would offer a complete package in availing a life plan. Our product's strength would be the monetary assistance that is provided when availing, high growth rate and domestic market. In terms of weaknesses, St. Peter Life Plan cannot control the shifting cultural trends of its target consumers. Because it is inevitable, the company must adapt into the new generation in able to be chosen of life plan consumers. The pricing strategy will be available in 2 choices; the current member can avail the additional service by selecting their chosen set in Catering and chosen set in Showroom Arrangement and it will be charged directly to the current package wherein the additional service can be paid annually, quarterly or monthly or it can be offer during claiming the finished package by simply availing on cash the additional services. The partnership of the Ignacio's Catering and Dangwa Florist would be a great opportunity for the St. Peter and its members, 20% share of the additional fee will go to St. Peter in every transaction. To have a greater brand awareness, St. Peter Life Plan's proposed products/services will use different promotional efforts to reach its target consumers. We created the innovation of the website of St. Peter L:ife Plan that will include the newly services of the industry. Also, we have the all in one booklet that will be full of things that potential life plan holders need to know like advantage of having a life plan and the packages to avail. Spreading the news through an awareness talk for the potential customers will also help to promote the products. The all-in-packages includes the catering service, chapel arrangement and floral symphony. Its primary purpose is that to generate more sales, increase brand awareness as well as to provide hassle-free transaction on their target consumers. We aim to be the top death care industry in the mind of the consumer so that we have created fresh services that will surely attraction of life plan customers. All company has its goals and objectives in order to stay competitive over a long run. For St. Peter Life Plan, the long term objectives are to employ professionals who create success for customers, effectively developing and engaging employees, to expand sales to the global marketplace, and to increase efficiencies through the use of wireless or virtual technology. And for its marketing objectives, it aims to increase company sales by 3-7% in the next years of implementing the strategies, to achieve profit generation by wide-range promotion and to become one of the top three brands in our industry named among consumers. Since we are intangible, our strategies for St. Peter Life Plan involves the physical evidence people and process. For the physical evidence, we have decided to improve the interior appearance of the branches because some customers are dissatisfied with the interior DESIGN OF St. Peter Life Plan office branches. They see the appearance of the branches as plain and effortless. For the people strategy, we have the special training and seminars for the agents of the St. Peter Life Plan because people are the key to a successful business, having intensive trainings for the front liners and agents of St. Peter will enhance their mindset to give their life plan holders the best service they'll ever need. Lastly for the process strategy, we've illustrated how will a consumer entertain when at the St. Peter Life Plan branch.