SaveMore in Iba,

“SaveMore in Iba, Zambales”

A BUSINESS RESEARCH

SAVEMORE MARKET This study has been

prepared to provide the readers with the information about the SaveMore Market, including the company profile, the store or branch profile where the study has been done, its retail trade area, available policies, the problems they commonly encountered, the strategies they implemented and the possible recommendation we can give.

COMPANY PROFILE

“Savemore Market: SM Quality right at your neighborhood”

COMPANY PROFILE

Savemore Market is a chain of neighborhood grocery stores under the SM Food Retail Group (other Food Retail formats under SM are SM Supermarket, SM Hypermarket and Makro). Savemore Market’s tagline is “At your Service!” As it takes pride in excellent customer service and in providing the shopper’s daily needs.

COMPANY PROFILE

Savemore stores complement the regular SM Supermarket as it caters to shopper’s last minute purchases and their day-to-day budget. Savemore Market offers a more convenient way to shop as it provides not just the freshest food items but also grocery items, as early as 8am daily (in most branches). What’s more, it’s located just around the corner.

COMPANY PROFILE

The compact size of Savemore stores makes it easier for customers to complete their shopping activity in a shorter amount of time. Despite the smaller space, Savemore Market continues to offer a wide variety of products including a full line of of groceries and a wide range of fresh meat, seafood, fruits, vegetables and ready to cook items.

COMPANY PROFILE

Economic ImpactThe presence of Savemore Market creates economic benefits to both the shopper and its community:

Savemore Market provides value for money to the shopper through competitive pricing and promotions.

COMPANY PROFILE

Savemore Market brings convenience to the shopper and affords her to save on transportation costs through its proximity to barangays, subdivisions and places work.

COMPANY PROFILE

It has been noted to increase the quality of life within the area by improving roads and access to public transportation, land appreciation and improving the quality of products offered by other markets within the same vicinity.

COMPANY PROFILE

Increase in employment opportunities (average of 250 jobs) are brought in the community where Savemore is Located.

Shop owners that adapt to the changing needs of the community continue to thrive and improve the quality of their products upon savemore’s entry to the community.

COMPANY PROFILE

Latest OffersSavemore Market shoppers can expect the same standards in food retail and the same offers found in SM. Service is even more personalized for the community shopper in a Savemore store.

COMPANY PROFILE

Modern Wet Market Savemore Market makes it convenient for shoppers to shop leisurely for meat, poultry, seafood, fruits and vegetables in a clean and air-conditioned environment. Shoppers can GO early just to get the morning catch.

COMPANY PROFILE

Shopper Services Service Offerings

Fish, meat and Seafood Services Lessen the kitchen hassle as we clean your seafood slicing them into fillet or your preferred cut!

COMPANY PROFILE


Fruit Slice, Cut, and DiceFix a sumptuous dessert readily as we do the slice and dice of your freshest picks of fruits!

COMPANY PROFILE


SM BonusSM Bonus brand is a good alternative to other brands at a lot cheaper prices noting that close to 10 percent of its total sales are accounted for by products under the SM Bonus brand.

COMPANY PROFILE

Shopper Services Customer Care

Prestige Card Members Lane Dedicated check out counter for Prestige card members.

COMPANY PROFILE


Senior Citizen Lane Exclusive check out counters for the elderly.

COMPANY PROFILE


Complimentary WheelchairComplimentary wheelchairs for elderly and disabled persons to conveniently shop inside the store available at customer service counters.

COMPANY PROFILE


Bills Payment One-stop-shop for bills payment adding value to time.

COMPANY PROFILE


Libreng Hatid Our friendly staff will accompany you to the nearest Jeepney or Tricycle.

COMPANY PROFILE


Customer AssistanceFriendly, enthusiastic and helpful customer assistants ready to lend shoppers a hand.

COMPANY PROFILE

HISTORY

1999 – The first Savemore Market was opened in Riverbanks Mall, Marikina

COMPANY PROFILE

2003 – Savemore Market opened in first provincial store in Elizabeth Mall, Cebu

COMPANY PROFILE

2004 – Continous expansion in Metro Manila is soon through Savemore’s 3rd store in Festival Mall, Alabang

2006-2007 – Savemore opens 3 provincial stores in Jaro, Iloilo, Angono and Morong Rizal

SAVEMORE JARO ILOILO

COMPANY PROFILE

SAVEMORE SAVERS SQUARE TAFT

2008 – Savemore opens 5 store nationwide: Savemore Savers Square Center Taft, Savemore in Parkmall Cebu, Savemore Nagtahan, Savemore Tanay, Savemore North Edsa Annex

COMPANY PROFILE

2009 – Seeing the growing need for community stores, SM expanded its operations rapidly with 13 new stores:

COMPANY PROFILE

Savemore MezzaSavemore Laong laanSavemore P. TuazonSavemore Del MonteSavemore Amigo MallSavemore Mega CenterSavemore Taft

COMPANY PROFILE

Savemore BroadwaySavemore AnonasSavemore LibertadSavemore NovalichesSavemore Visayas AveSavemore Solano

COMPANY PROFILE

SAVEMORE NOVALICHES Q.C.

COMPANY PROFILE

2010 – Savemore West Kamias Savemore Mendez, Tagaytay

Savemore Legaspi, Baliuag, Bulacan

Savemore Pasong TamoSavemore Satolan

COMPANY PROFILE

Savemore MalabonSavemore Bacolod EastSavemore Market CitySavemore AgoraSavemore Cagayan De Oro

COMPANY PROFILE

2011- Savemore Iba, Zambales

STORE/ BRANCH PROFILE

Name of Establishment:

“SaveMore Market”Business Address: Brgy. Sagapan Iba, Zambales


PERSONNELSaveMore utilize its people’s assets on its maximum use. SaveMore in Iba, Zambales consists of forty-eight (48) employees and their management team comprises of one manager and two supervisors. They are Mr. Agapito H. Molas, the Assistant Store Manager, Mr. Elmar L. Luna, the selling Supervisor, and Ms. Janet N. Aldea, their front end supervisor.


TRANSACTION COUNTOffering the convenience of a first-class indoor wet market, groceries and general merchandise store, SaveMore Market caters primarily to budget-constrained households by offering lower-priced items, supported with the strong management team, reputable name or strong brand, and aggressive marketing functions, these enables them to get approximately 500 customers or transaction counts per day leading to increase profit or greater revenue for them.


BUSINESS HOURSThe regular business hours of SaveMore in Iba is from 8am-8pm. Since, it offers a more convenient way to shop, SaveMore makes sure that they provide their customers not just the freshest food items but also grocery items as early as 8 am daily.

OPERATION HOURSThe regular operation hours of SaveMore in Iba is from 7am-9pm.

RETAIL TRADE AREA MAP

RETAIL TRADE AREA STORE LAYOUT

2ND Floor isfor space lease

PARKING AREA

WAREHOUSE

GROCERIESFISH SECTI

ON

MEAT SECTI

ON

FRUITS&

VEGETABLES

CUSTOMER

SERVICE

COUNTERS

BILLS PAYME

NT

GADGETS

LIQUORS

BDO

Snacks section

WATSONS

YELLOWTAG

BAGGAGE COUNTER

STAIRS

CDR KING

MYPHONE

RETAIL TRADE AREA

COMPETITORSThere exists numerous grocery stores in Iba, Zambales, and SaveMore considers Happy Valley as its main competitor, added to this is the soon-to-open Puregold as confirmed by its management. But, they also believed that the high standards set by their company are going to make it difficult for their competitors to enter and survive the market area. Furthermore, they consider their offerings of wide variety of products including a full line of groceries and a wide range of fresh meat, seafood, fruits, vegetables and ready to cook items in their clean and air-conditioned environment and clean facilities as their main advantage against their competitors.

POLICIES

As mandated by the management, we are not able to find out what are the company policies for Savemore’s employees and customers. We can only provide you the Code of Ethics/ Policies of SMIC (SM Investments Corporation). Savemore is under the SM Food Retail Group which belongs to SMIC.

POLICIES

Mission, Vision and ValuesVisionWe envision SaveMore to be a Filipino brand that is world class. We see SaveMore as a market leader that constantly innovates to provide best-value products and services to its millions of customers.

POLICIES

Mission, Vision and ValuesMission To achieve world-class standards, SaveMore shall adhere to

long-held corporate values of hard work, focus, and integrity. To meet the ever-changing needs of customers, SaveMore shall

take the lead in constantly innovating its products and services. To become an employer of choice, SaveMore shall develop its

employees into professionals who are highly motivated to excel in their respective fields of service.

To generate sustainable growth and optimal returns, SaveMore shall exercise prudence in resource management based on its vision and principles of good corporate governance.

To assist and nurture the communities in which it operates, Savemore shall progressively build on its role as a responsible corporate citizen through its various civic and environmental programs.

POLICIES

Mission, Vision and ValuesCore ValuesVision. Leadership. Innovation. Focus. Hard Work. Integrity. Prudence.

POLICIES

Code of Ethics/PoliciesSMIC adopted a Code of Ethics on September 21, 2007 to re-affirm the company's commitment to the highest standards of ethics, good governance, competence and integrity in pursuing the company's mission and vision to serve the best interest of its customers, stakeholders and the country. The Code provides that the company strives to render adequate, reliable and efficient customer service at reasonable cost. The company also protects shareholders' and investors' interests, including their rights to a fair return of investment and accurate and timely information.

POLICIES

Code of Ethics/Policies The Code mandates a fair and transparent process for the evaluation and selection of suppliers of goods and services. It likewise requires an effective monitoring and control system to prevent fraud and other malpractices.

The Code prohibits the solicitation or acceptance of gifts by any director, officer or employee of the company from any business partner, except only for gifts of nominal value or those given for the company's charitable projects. It further prohibits conflict of interest, insider trading, corruption and other illegal acts.

POLICIES

Code of Ethics/Policies The Company selects, develops and compensates the best people to manage the company. It aims to provide its employees with adequate benefits as well as a safe workplace and environment. It also supports health, educational, social, livelihood and other charitable projects nationwide.

POLICIES

Revised Code of EthicsIn March 2009, SM Investments Corporation revised its Code of Ethics, which serves as a guiding principle for its directors, officers and employees in the performance of their duties and the conduct of their transactions with business partners. The Code reflects the Company's mission, vision and values statement. The salient provisions of the Code pertain to compliance and integrity, relationship with business partners, employee welfare, shareholder rights and protection of company information.

POLICIES

Revised Code of EthicsSome of the important provisions of the Code are as follows: All employees are required to immediately report to the management

all suspected or actual fraudulent or dishonest acts. Solicitation or acceptance of gifts in any form from any business

partner is prohibited, except for gifts of nominal value. Any conflict of interest must be promptly disclosed to the

management. All employees are prohibited from disclosing vital business

information, unless authorized by the company or required by law. Insider trading is prohibited. The company's Human Resources and Corporate Governance

departments are responsible for implementing and monitoring compliance with the Code. Violations of the Code are punishable by disciplinary action and/or the filing of appropriate civil and criminal action.

POLICIES

SMIC Code of EthicsGuidelines on Acceptance of Gifts

To ensure integrity in procurement practices and the selection of the most appropriate business partner in each instance, SMIC adopted guidelines on the acceptance of gifts by all directors, officers and employees from the company's business partners. Under this policy, all directors, officers and employees are prohibited from soliciting gifts in any form from any business partner. They are further prohibited from accepting gifts in any form, except for corporate give-aways, tokens or promotional items of nominal value.

POLICIES

SMIC Code of Ethics

Insider Trading Policy

To implement the prohibitions on insider trading in the Securities Regulation Code and to comply with best practices on corporate governance, SMIC also adopted a policy on insider trading. The policy prohibits directors, officers and employees of SM who know material and confidential information from buying or selling shares of stock of the listed SM companies. All information that is likely to affect the market price of SM's shares is deemed to be material. In line with the company's insider trading policy, all directors and senior officers are required to disclose their transactions on the company's shares, in accordance with the provisions of the Securities Regulation Code and other relevant issuances.

POLICIES

SMIC Code of Ethics

Guidelines on Placement of Advertisements

SMIC further issued a policy to prohibit the placement of advertisements in publications that solicit for such ad placement prior to the release of the official results of an awarding process conducted by the publication and where an SM company or executive is one of the nominees vying for the award/s. SM may consider placing advertisements in such publications as part of its over-all marketing strategy, but only after the release of the results of the awarding process and where it will not create reasonable doubt that such ad placement influenced in any way an award given to an SM company or executive.

POLICIES

SMIC Code of Ethics

Guidelines on Travel Sponsored by Business Partners

In August 2009, SMIC issued guidelines on travel sponsored by business partners. The guidelines prohibit travel sponsored by business partners, which refer to contractors, suppliers, banks and other entities engaged in business with SMIC. Where a business partner invites SMIC officers or employees to travel for the purpose of attending trade shows or exhibits, or for exposure to new products and innovations, among other similar purposes, officers and employees are prohibited from accepting such sponsored travel. If the SMIC management deems that such travel is necessary for the business and for the development and training of officers and employees, SMIC will pay for the cost of the travel.

The guidelines further prohibit all SMIC officers or employees from accepting any travel sponsored by any current or prospective business partner which is participating in any on-going bidding or selection process for any SM project or transaction.

POLICIES

SMIC Code of Ethics

Anti- Money Laundering Law Guidelines

In May 2009, SMIC issued Anti Money Laundering Law guidelines for its property group. The guideline lay down rules on acceptance of payment for real property projects and stresses the importance of know-your-client procedures. The guidelines are compliant with the provisions of the Anti-Money Laundering Law and its implementing rules and regulations.

PROBLEMS

Few imported items As we observed in Savemore and as the management had confirmed to us, they only have few items for imported goods in their shelves.

PROBLEMS

Distance The distance of Savemore from the main market where almost all of the establishments were built, like Jollibee, Merchandise stores(Fitwell, Yeyeye, Dress Collection ,etc.), banks, SSS( Social Security System), HBC, Chowking, Seven Eleven (7/11),etc. is also one of the problems we see. Sometimes, the people, after buying stuffs, eat with their friends or families in Jollibee or Chowking or 7/11, made some transactions on their banks or maybe in SSS or somewhere, they find their selves tired of walking more meters to go in Savemore, choosing just to buy in Happy Valley or other near grocery stores.

STRATEGIES

SAVEMORE, the friendly neighborhood store made friendlier and more convenient and a lot more. There are a lot more words to describe Savemore Market. And they have done better strategies for their success.

STRATEGIES

AccessibilityUnlike groceries in distant, residents will gladly find Savemore easily accessible and open from 8 a.m. to 8 p.m. daily.

Better ServicesAt Savemore, you can pay your bills, exchange money, banking, process your NSO and buy medicines all under one roof. Residents will find it convenient and cost- saving to settle their bills.

STRATEGIES

Wide Selection of Grocery ItemsSavemore offers a wide range of grocery items, including high quality yet very affordable SM Bonus products. Residents will find Savemore Iba an exciting place to do their grocery shopping because it offers the same benefits that they have come to expect from an SM store — great merchandise selection, value for money and safety and convenience.

STRATEGIES

Customer ServiceExcellent customer service with a smile from courteous and ever reliable staff.

The New MarketThe wet markets are still crowded with people. Apart from its wide selection of affordable grocery products, Savemore also boasts a fresh section — a clean and air-conditioned modern wet market facility where shoppers can find a great selection of the freshest fish, meat, poultry, fruits, and vegetables — comparable to the best produce found in most wet markets in Iba.

STRATEGIES

Supplier PartnershipYour favorite products can be found inside the Savemore because they are establishing good relationship with different firms like Gardenia and many others, boosting their profitability.

STRATEGIES

AccuracySavemore shoppers can be sure to get their money’s worth for all fresh items bought because they are weighed precisely. All Savemore weighing scales are tested and guaranteed accurate by the local government.

Ready-to-Cook ItemsThe fresh section offers ready-to-cook selections such as marinated meats, breaded pork chop, french fries, lumpia and many others are available so pleasing the family’s appetite would be easy.

Snack Sections

You don’t have to worry buying snacks outside because right after you shop, there are food sections you can choose from to buy like Buko express, pizza house, lugawan and others.

STRATEGIES

Advantage CardsSari-sari store owners will find that with their SM Advantage Cards, they can also get a chance to win instant prizes every day in Savemore’s “Yellow Tag” promo.

Giving BackSM Group is a community-based organization and as such it is not only making money but also gives back a lot to the community.As responsible corporate citizen, Savemore Iba has launched a program, the M.O.B. (My Own Bag) Day program. The M.O.B. Day is an effort to reduce the usage of plastic bags by encouraging customers to reuse the "Green Bag" for shopping purposes. M.O.B. Day is set every Wednesday where customers are encouraged to bring the Green Bag with the objective of inculcating into the minds of its shoppers the need to reduce the usage and dependence on plastic bags. In a way, SM has heightened the awareness of its shoppers on helping protect the environment.Thus, SM’s growth and success can be also attributed to its love of God and a family-centered organization, which come from the heart, not just a strategy.

RECOMMENDATIONS

The customers expect that being a supermarket and the fact that they belong to a large network corporation- the SM group, they should have immediately resolved and response the issue of having few items for imported goods in their shelves. It is not enough that they’ve contacted their main headquarter about this, because a lot of customers will be disappointed and will turn their backs away from them, with the fact that lot of foreigners are here and looking for those items. And if it is not against their policy, they should take some positive and curative steps from their subsidiary like finding alternative supplies for those items while strengthening their marketing strategy.

RECOMMENDATIONS

With the problem about the distance of Savemore from the establishments, we recommend that they should become proactive in seeking for their customers and do not wait for the world to come to them. Provide the customers with a free ride, for example in a jeepney. The jeepney will wait for the customers in the main market and bring them to Savemore. Moreover, it is not to be implemented immediately. They must conduct first a feasibility study about this project. If feasible, then implement, if not, then reject and find another solution like continuous innovation and a strong marketing strategy. Yes, it is a risk, but that’s how a business operates. The management should possess the quality of being a risk-taker.

SaveMore in Iba,

Documents

Transcript of SaveMore in Iba,