Company Profile Essay

IntroductionBAYO is example of a specialty store that now competing to some other leading specialty store. We aim to meet the sideline objectives upon conducting this field of view To Identify the retail format of BAYO and its competitors, To study and understand the companys retail format, To identify the advantages and disadvantages of BAYO with its competitors, To identify the strength and the weaknesses of BAYO and aTo help improve the assistance resultd by BAYO to its customers.Brief history of the company BAYO started come to the fore as a made-to-measure dress shop in Makati. The need to expand grew bigger when BAYO launched its ready-to-wear line. In 1992, the growing drive triggered the establishment of Lyncor, Inc., then a manufacturing firm, to support BAYO. BAYO, an ilonggo term which means, dress in face was chosen by the owners of the company since they are from Bacolod. BAYO reflects a clean, material bodyic image. BAYO caters to women who embody the laid-back , day-by-day lifestyle who puzzle preference for voguish yet classic apparel.BAYO is a testament of what the Philippine green goddess do in todays competitive environment. BAYO is proud of what it has achieved as a Filipino retailer and it expresses its full assumption in being Filipino. This is what set the shop apart, its idol worship to staying true to its roots as a Filipino brand. It has no pretensions on what the brand image is all about and rather keeps in tune with the brands origin, which is excuse Filipino. BAYO revolves around who the Filipina truly is in all her different facets and how she evolves with time but still maintaining her distinct cultural attributes.Company profile great deal behind the company Lyn Agustin and Corcor Bitong, the owner of BAYO. What the company does BAYO, a ready-to-wear clothing company that now has a total of 53 branches 18 franchised and 40 company-owned within Metro Manila and Bacolod metropolis.When the company started Agusti n and Bitong started their business in 1992 and started franchising in 2001.How the company grew Agustin and Bitong started out a simple made-to-measure dress shop in Makati City. But when their demand and clientele grew, the sisters, together with their husbands, established Lyncor Inc., a manufacturing firm and began market their womens clothing designs in earnest.BAYO doctrineBAYO has always taken pride in our continuous effort to intrust up the Filipino people with the following Quality Merchandise. Quality Service. Reason equal to(p) Prices. Comfortable and world class shopping experience. Fair laborBAYO started out as a made-to-measure dress shop in Makati. The need to expand grew bigger when BAYO launched its ready-to-wear line. In 1992, the growing demand triggered the establishment of Lyncor, Inc., then a manufacturing firm, to support BAYO.BAYO, an ilonggo term which means, dress in English was chosen by the owners of the company since they are from Bacolod. BAYO reflect s a clean, classic image. BAYO caters to women who embody the laid-back, casual lifestyle who drive home preference for stylish yet classic apparel.BAYO is a testament of what the Filipino can do in todays competitive environment. BAYO is proud of what it has achieved as a Filipino retailer and it expresses its full pride in being Filipino. This is what set the brand apart, its devotion to staying true to its roots as a Filipino brand. It has no pretensions on what the brand image is all about and rather keeps in tune with the brands origin, which is still Filipino. BAYO revolves around who the Filipina truly is in all her different facets and how she evolves with time but still maintaining her distinct cultural attributes.BAYOs strength lies in its ability and skill to create classic and stylish apparel and keeping in tune with what its market demands. Its think is centralizeed on its crossings, making them of life-threatening quality at very affordable prices.BAYO offers clas sic pieces of ready-to-wear apparel from blouses, tees, pants, jeans, skirts, accessories such as footwear, bags, jewelry and other switch, which can be easily be mixed and matched. BAYO aims to create a lifestyle for women by providing them with diverse range of products.BAYOs corporate structure has a very casual environment as well as a friendly atmosphere between management and employees. People treat from each one other resembling family, which makes it on the loose(p) to communicate and deal with each other. This contributes greatly to the success of BAYO because it paves the way for a better working environment, which in turn promotes teamwork. BAYOs national commitment is to be able to provide employment and to be able to raise the local industry to higher levels. Its goal is to be able to penetrate the global market and promote it as a Filipino brand.Statement of the problem1. What is their merchandise?BAYO is focused on providing wide variety of merchandise assortment and other accessories. They did not only focus on clothing but also offer complementary accessories to have overall makeover.2. What is their Store physical body?BAYO arranged and designed their products according to color. This is one way to attract customers attention. The stores wall is made of glass so that customers can see the products through the glass. They also have chairs for customers to simulate on while waiting. They also have a separate rack for accessories and every week they have a new set of design of their product.3. What is their Market Segment?GeographicCity and Municipality Makati City and Taguig CityPopulation Density Urban and SuburbanDemographic segmentationAge 17-22 and 23 up sexual practice femaleFamily life cycle Single, young, married, in a relationship, married with children, separated and others. Occupation Young urban professionals, students, housewife, white collar jobs.Psychographic dividerFemales usually go to mall to seek for a need or to windo w shop realizing that females are innately sophisticated. Because of this reason probably they are the possible purport audience. As clothing stores the focuses on womens apparel, we are targeting females that are willing to submit or adopt the in style(p) fashion. Instead of targeting females in the upper class, we focused on the market segment in the middle class realizing that upper class would prefer to visit stores having more expensive products.Behavioral SegmentationFemales generally provide sufficient time in visiting malls to look for products that will make them feel more beautiful. They give more effort in choosing, scrutinizing and deciding on which product they want to purchase from the factors of price, design, fashion and quality. Usually, females debase a product to have self-esteem and be in. Primarily, females who seek for job, already workers and students probably have the role to go to BAYO store as well as using it for applying for a job and hang-outs.Need S egmentation Females that are looking for classical but casual wear Accessories that will complement in the casual wear that will fully satisfy the taste, preference, occasion, professions and social activities for the customers Apparel with good and high quality materials that can be used in applying in profession and occasionally purpose.4. Why did they situate on that office?BAYOs location in MARKET-MARKET TAGUIG is advantageous because its located near at activity center which you can find a customer, and their location of the store is easy to be seen because it is near at entree and it is good for competition. BAYO location in Market-Market has a 96.50 square meter and they are one of the branches of BAYO.5. What is their marketing lift and their market positioning? sss Based on observation, BAYO intensified their advertisement by having lots of billboards. Also, BAYO strategically use well-known artists to promote their products so that it will be attractive and convincing . These appeal made the products easy to remember. They also have a company sale which is held every whole month of July and the other gross revenue promotion of their store is depending on the mall sale. BAYO Company have a color campaign, those are sensationalistic for Happiness, Pink for Sweetness, Orange for Creativity and Purple for Sophistication.6. Who are their competitors?Their competitors are penshoppe, folded and hung, forever 21, kamiseta, tribal.7. Who are their target markets?Their target markets are the teenagers or middle ages.8. What is their customer divine service?BAYO is giving a high customer service by means of providing free iron and fold for purchased apparels. There is also a salesperson assisting the customers in the dressing area.9. How do you handle your customers complaints?BAYO should know first their complaint about their product and give them possible solution to satisfy their customers.10. Do you have your regular customers?BAYO have their regular c ustomers like teens and middle ages.