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Firstly, these BOP Jobs involve an extensive usage of computers, resulting in a greater prevalence of eye problems. According to industry sources, computer use is the main driver of eyestrain that requires the use of spectacles. Secondly, many Filipino workers at these BOP companies also enjoy an aware allowance, typically given on an annual basis, which allows them to purchase new aware products every year. Spectacles has benefited more than contact lenses from these developments as glasses are more often recommended for computer users. Aware in the Philippines was expected to end 2012 with strong growth, mainly supported by the booming business-process outsourcing industry.
Apart from higher incomes, workers at many of these outsourcing companies also receive an annual aware allowance, which has encouraged them to have their eyes checked and treated accordingly. This has translated into a stronger performance for certain types of aware, although, overall, he playing field has become much more dynamic in 2012. Computer-linked lifestyle boosts sales of aware Using the computer and any other gadgets has now been part of Filipinos’ daily lifestyle. Filipino culture has been slowly moving from traditional to a more visual one. As of 2012, the use of computers has infiltrated nearly all households in the country.
Not only have computers become a necessity among workers, particularly those in the outsourcing industry, but Just about everyone is increasingly reliant on computers. This is true especially in terms of social networking and keeping in touch with family and friends. This increased dependence on computers has resulted in greater eyestrain incidences, which has also benefited aware sales in the country. Nerdy Glasses Trend The “Nerdy Eyeglasses” as the name suggests, is the type of glasses which is usually assumed as those that nerd but intelligent people wear. They are pretty common and lots of guys are fond of wearing them. One of the primary reasons why many guys wear them is because of the known fact the most women are easily turned on by intelligent guys. And vice versa.
Which is why most men think that if they looked more intelligent, more women will be attracted to them. A lot of people (not only males but also females) wear eyeglasses even if they have perfect vision and does not really need it because of this notion. Gone are the days that wearing glasses is such a shame. With school in full swing and popular television shows like “Glee” back from summer hiatus and different influential personalities and celebrities, the current “geek chic” trend in fashion and aware is popping up everywhere. People are actually wanting to wear their glasses and even say, “the geekier, the better”. Now, wearing glasses is no longer disturbing.
In fact, it has been very stylish. Men and women Just like their appearance and feel very comfortable when wearing spectacle as their fashion statement Just like their idol celebrities. K-Pop Fashion Trend Another evident reason of the emergence of this trend is because of the “K-Pop Virus”. In the past five to ten years, Korean drama has been a trend in our country. A lot of Filipinos are hooked on it that the remakes of popular Korean dramas have been franchised in the Philippines. And in today’s generation, it seems that Filipinos, particularly the teenagers, are now avid fans of Korean music or what we all know as K-Pop, thus paving the way for the K-Pop Fashion.
Filipinos are exposed to Koreans hip and trendy dresses and style because many have been inspired by the stylish and funky appearance of Korean pop stars. They want to feel and look like them, and simply following the current trend, no more, no less. Indeed, this definitely took the Philippine fashion scene by storm. Of course, K-pop fashion is not Just for us girls. The men have been wearing accessories, sporting Korean hairstyles and large and Anima Trend Since the year sass’s, the “anima” trend of Japan has influenced the Philippine culture a lot and in fact, has stayed present in the society through out the years. Coplay events are evident since Filipinos want to experience how it is to be like their favorite fiction characters.
Because of this, Special-effects contact lenses like Black sclera contact lenses, white contact lenses, wild eyes, cat eyes, and many more emerged. Also the “big eye lenses”which is inspired by the doll-eyed anima cartoon characters came out the Circle lenses which are a relatively recent phenomenon. It has been so much of a fad that even street vendors and tinges like Divisor are even selling these kinds of contact lenses. But since these products from the streets f Divisor were said as not approved by the Food and Drug Administration, selling such items are now prohibited because it has negative and unpleasant effects to the cornea and can even lead to blindness.
The government then advised the public to only purchase contact lenses from licensed optical shops in order to assure safety. Emergence of the Modern Narcissistic Filipino Far from the traditional, conservative and very masculine Filipino man, the metronome’s man has strong desire for fashion, fitness and male cosmetics. A perfect physique, clear complexion and branded wardrobe are mandatory to the new male del- the upgraded version of the pretty boy archetype embodied by the so-called SNAG or the “sensitive new-age guy’. This is a new subculture of men that are going mainstream with their lifestyle which includes excessive grooming and interest in fashion, which have typically been regarded as feminine behaviors.
Known to have egoistic and proud personalities, Filipino men of our society today are Just as conscious about their looks as the women. The “metronome’s” phenomenon has recently caught on in urban centers. They have now been very meticulous and prefer designer brands since they are very particular on how they would look. From their hair, eye wear, clothes and down to the tip of his toe, he ensures perfection. Color combination, style and grooming is now a very important routine and way of life for them. Known personalities, both local and international has largely influenced the men of today proving that the “narcissistic Filipino,” in fact, is now part of popular culture. Consumer buying behavior Amid budget concerns, Filipinos continue to be largely bargain hunters, looking for best deals on items that would otherwise cost more during regular days, according to a study. Filipinos also tend to canvass more often in the last five years with 72 recent of those studied canvassing first before buying. This is an increase of 13 percent since 2005. Consumers who compared prices before making purchases slightly increased to 79 percent in 2010, up from 77 percent in 2005. Filipino buyers are also very loyal to the brands that they have purchased, often buying their favorite brands first than competing brands that offer promotions. During markdown sales of stocking them up for future use until perhaps the next sale. More Filipinos have also turned to promotional offerings to cut their expenses.
While Filipinos have a high agree of loyalty towards brands only 9% are likely to buy different brands due to promos close to 30% say they actively search for discounts when shopping and 40% say they purchase items on promo if it is the brand they like. One surprising aspect of the report on Filipino buying habits is that health and beauty products were top priority despite low income. Based on the study, Filipinos demand to look physically better increased since 2005 by as much as 21 percent. Metropolises are a good potential market and marketers are responding vastly to it. Since the most important thing for them is appearance and his body image, these en are more visible than ever in traditional venues such as department stores and specialty stores.
They are increasingly spending money on appearance related products and in making themselves neat and smart-looking. Most metropolises have relatively high purchasing power when it comes to making themselves look good. What they buy is highly influenced by celebrities and world-class male models. They favor highly fashionable things to wear, which drives them to favor designer and even international brands but are very meticulous in choosing products to buy. * Optical-specific Consumer Buying Behavior Knowing Filipino people are very meticulous and value-maximizes in buying products and have such diverse and different preferences in making sure that the product is worth buying, there are several reasons why they buy or prefer specific optical products: B.
Industry Key Issues Porter’s 5 Forces Analysis Competitive Rivalry (high) Eye care industry is highly competitive and rapid technological change and evolving industry requirements and standards. The competition goes within the quality and efficacy of their products, innovation, relationship with eye care professionals and health care providers and price. It have high barriers to entry because they are highly technical, they need to have a good investment for this and also of restrictions to enter market. Threat of New Entrants (high) Optical shop such as Executive optical and Optical Shop has built their name in the industry many years and now.
Due to the large product differentiation and therefore high customer loyalty and brand recognition, the tendency for new entrants is to compete and exert much effort because it is hard to enter the market. Threat of Substitute (low) surgery provided a permanent solution to impaired vision. But then, eyeglasses or intact lenses are still preferred since it is cheaper compared to laser eye surgery. Wearing an eyeglasses or contact lenses become as a fashion wear, so you are purchasing a two offering which is for your impaired sight and for the style. Bargaining Power of Suppliers (high) Eye care industry sector is made of producers of optical products.
They are the providers of correctional lenses for glasses, frames for glasses and providers of all sorts of contact lenses. Since the consumers nowadays are brand conscious they tend to buy a branded frames and lenses so, the suppliers have a bargaining power ever the buyers. Eye care providers are all dependent to the suppliers. Bargaining Power of Buyers (low) Consumers wanted to be satisfied on what they avail for their money. They have a choice which and what brand should they use but still the store or the eye care center are dictating the price but the consumer wants a high quality product worthy of the cost for them to be satisfied. Value Chain Support Activities * Firm Infrastructure This activity includes and is driven by corporate or strategic planning.
To avoid conflict, optical shops implemented Management Information System (MIS) and other Achaeans for planning and control in different departments. * Human Resource Management Employees are expensive and vital resources. Optical shops needs to hire an optometrist in order for the satisfaction of the customer. They consider their employees as a human capital because they are knowledgeable enough to handle and to cater the customer needs. Here are the following techniques to retain employees: * Recruitment * Selection * Training and development * Compensation * Maintenance * Technological Development Technology is an important source of competitive advantage. Optical shop need to innovate to reduce costs and to protect and sustain competitive advantage.
Also, they implemented production technology, Internet marketing activities, lean manufacturing, Customer Relationship Management (CRM), and many other * Procurement This function is responsible for all purchasing of goods, services and materials. The aim is to secure the lowest possible price for purchases of the highest possible quality. Optical shops will be responsible for outsourcing lenses and frames. Acquisition of materials must not be too long for the process of making an eye glasses. Primary Activities * Inbound Logistics Here goods are received from company’s suppliers. They are stored until they are needed. Optical shop imports raw materials from different countries. In order to maximize the availability of raw materials, optical shop should maintain good relationship with their suppliers. Operations This is where raw materials are being processed and assembled. Optical shop must ensure that the quality of the output must meet the expectations of the customers. This will help build a strong relationship with the customers and also with the suppliers. * Outbound Logistics The goods are now finished, and they need to be sent along to other intermediaries that caters these final consumer. * Marketing ; Sales At this stage, optical shop prepares the offering to meet the needs of targeted customers. This area focuses strongly upon marketing communications and the promotion mix. This creates brand awareness and makes people buy their products. Services This includes all areas of services such as repairs and adjustments of frames, free check-up and warranties. Optical shop must value their customers. C. External Market Audit Opportunities * Aware in the Philippines is in its growth stage due to the increase of BOP Jobs yet to be explored. Modern fashion/trends increases the demand for eye wear Threats * Alternatives like ALASKA and Laser Eye Surgery which corrects vision permanently and no longer requires the use of eyeglasses. * Emergence of fake, imitation and relatively cheaper aware products sold in the streets of Divisor and Quip. * Long-term usage of eye glasses * Seasonality D.
Competitive Analysis I Executive Optical I Ideal Vision I Serbia Optical I Market Position I Market Leader I Market Leader I Market Challenger I Objective Business Emphasis I To provide a service with excellent customer satisfaction. I To provide top class products to meet the expectation of selective customers. I To provide comprehensive and convenient eye care of the utmost quality. I Key Success Factors I Quality- Offers good quality products and services that provide customer satisfaction by using state-of-the-art facilities and eye care equipment. Product Feature/Design-Carrier of trendy and hippy brands like Hello Kitty, Lulu Castanet, etc. Price- Provides the best value for money by offering affordable products and services.
Distribution- E has 75 branches present in key cities in the Philippines from Metro Manila to Nag in Southern Luzon, Pangaea to Baggie in Northern Luzon, Zebu, Lillo and Backlog in Visas, and Dave City and Canaan De ROR in Mindanao. After Sale Service- Lifetime service adjustments for frame screws. I Quality- Uniquely offering fast-paced excellent eye care service and quality products has elevated Ideal Vision Center as an “eye care specialist” that is highly trustworthy and reliable. Product Feature/Design- Broad and exquisite selection of world-class aware products – from top designer aware to first-rate prescription glasses and only the finest contact lenses. Price- Has a wide pricing range since it caters to SEC C-A .
Distribution- Has close to a hundred branches nationwide; the company has established strong presence in key cities outside Manila like Baggie, Zebu, Canaan De ROR, Dipole and Dave to name a few. And to further widen the playing field, the company has set its eyes to conquer the international market. VIC has opened its first international branch in Guam. After Sale Service- Lifetime service adjustments for frame screws and nosebags. I Quality- Provides quality products and personalized services for the entire family. Product Feature/Design-Each of our clinics carry complete fashion and luxury brands as well as tailor fit product lines. Price- Products and services are available in a wide range of prices for different customer capabilities.
Distribution- Currently has over 40 branches conveniently located at world-class malls and shopping centers to continue the tradition of caring for the Filipino vision. After Sale Service- Lifetime service adjustment for frame screws and nosebags. I Competitive Advantage I It gives reliable eye care services and value pricing. It offers affordable price of products compared to other competitors. It also offers popular fashion eye care products like sunglasses, prescription frames, contact lenses, reading glasses, and contact lens Fast Cast Lens System to be able to deliver the fully fitted eyeglasses to clients for less than an hour. They also carry the widest assortment of brands and collection of styles that would be offered to their clients.
I Serbia Optical chain of clinics has been in the Optical Service for over one hundred years (1906-2006), and has grown into a trusted and recognized retail clinic operation for most Filipinos. I E. Brand Development “Eye-amazing! “, is a full-service optical store brand we will create in order to penetrate and take advantage one of the emerging potential markets which are the metropolises. Metropolises, being self-indulgent in making themselves very presentable and improving their physical appearance, can be considered as a very good market for the optical/eye care industry, taking advantage of the current trends present in today’s modern society like the factionists glasses being worn by various famous personalities local and international.
Because of these trends, wearing glasses is becoming more of a fashion statement, influencing both Filipino men and women who are inclined to fashion and fads. “Eye-amazing! ” would attack the competitors by taking advantage of their weak points, such as services and products hat they are still not providing the market, but can stimulate demand. In buying products, metropolises mainly considers the cleanliness, especially the customer service. They are also very fond of luxury, signature and designer brands with outstanding quality. Which is why “Eye-amazing! ” will be a full service store with highly-trained staffs and professionals, offering the best brands, services and customizable products that would be first in the Philippine market.