A Marketing plan prepared for Asian Appraisal Co., Inc.

• Main Authors: Lim, Lyndon, Nuere, Pia Mylah, Raymundo, Julius Caesar, Vistan, Luis
• Format: text
• Language: English
• Published: Animo Repository 1993
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/16928
• Institution: De La Salle University

The corporate mission of Asian Appraisal reads as follows: The basic task of Asian Appraisal is to render a fair, professional and sound judgment and estimation of the economic value of resources, goods and services. To achieve this task, the company observes the strictest standards of integrity and impartiality and inhibits itself from engaging in any undertaking which exposes itself to conflict of interest or unethical gains. We assure our clients that at all times, our valuation services shall be professionally and competently rendered, technically sound, prompt and relevant to customers' needs, and consistent with their expectations. Cognizant that our company's most valuable asset is credibility, an asset that has taken decades to nurture and has given us a prominent standing within the industry, we pledge ourselves to fulfilling our service commitments in a manner that will justify and strengthen the confidence that our clients have reposed in us. To our employees, we shall offer humane working conditions, fair compensation and the fullest opportunities for personal and professional development. We recognize that the quality of our services is only as good as the level of our employee's undertaking and that their failure to live up to his specific functions and responsibilities can easily thwart the accomplishment to the company's objectives. For the sake of our stockholders, we shall aspire to earn a reasonable profit, maintain a prudent level of liquidity, and achieve consistent growth in the industry. Finally, as corporate citizens of the Philippines, we view our corporate mission as an opportunity to participate in and promote the development of our country. We commit ourselves to observing its laws and to supporting the effects of our leaders towards the establishment of a just, peaceful, and prosperous Philippine society. Although Asian's performance during the last 5 years show improvement, the company's growth has been very volatile. With regards to the industry, valuation experts characterize the business of appraisal services in the Philippines as not yet fully developed. Majority of the country's businesses do not appreciate nor avail of professional valuation services. Most that do, make it a low priority. Nowadays, competition is very stiff in the appraisal industry due to limited barriers of entry of new firms coupled with meager marketing efforts on the part of the leading appraisal firms like Asian Appraisal. In the area of product development, for the last 30 years, traditional valuation services (real estate and industrial appraisal) have made up the bulk of industry revenues. The market nowadays for these services is already saturated. AACI recently introduced the concept of business valuation. It is the group's suggestion that the company must continue to develop the market for this type of service as it is projected that this will be AACI's next profit center based on trends in the industry and in the country's economy. As the leader of the appraisal industry, Asian found no need to increase their marketing efforts. During those 30 years, the company has just been waiting for clients to call. And because AACI is basically a low profile company, it merely concentrated on personal selling and yellow pages advertising. Such will not be the case in today's setting due to increased competition. Firstly, it is imperative that Asian Appraisal increase the public's awareness of the services it can offer. This can be done by advertising in newspapers, notably The Manila Bulletin and Business World. Additionally, a public relations program may be launched to further enhance the company's relationship with its clients. The company has to be more aggressive in marketing its services if it wants to stay competitive and maintain its market leadership. AACI must improve on its after-sales service by calling up its clients and following up any revisions and complaints on the reports conducted. Expansion is also key if AACI wants to achieve consistent growth in the long run. The company can set up branches in booming areas here and abroad to further widen its market base. Of course, these cannot be done if the company does not increase its manpower and computerize its operations. They are needed for increased efficiency and productivity. In short, AACI cannot afford to just sit and wait for blessings to come. It is clear that Asian Appraisal must push its resources to the limits if it wants to stay ahead in the industry.