Marketing Strategy and SWOT Analysis of National Book Store

The National Book Store’s origins may be dated back to the 1930s. The store was successful but destroyed during the 1945 Battle of Manila. It rebuilt and reverted to selling textbooks and stationery. The reopened National Book Store on the corner of Soler Street and Avenida Rizal coincided with the start of the first academic school year after the war. To understand the causes of the National Book Store’s positive performance, it is necessary to first learn about the company’s SWOT analysis and marketing strategy.

Mission and Vision of National Book Store

Vision Statement: We envision a future where all children are educated and are in schools.

Mission Statement: We aim to provide every child with access to quality education. 

NBS strives to instill a love of books in Filipinos and to cultivate readers by making books more accessible to those who need them the most.

Their mission is to provide clients with tools to enhance their minds and develop their talents, ensuring their success. They give the most products and services, reach more consumers through an expanding branch network, and promote reading and learning through advocacy and community projects. The goal is to have 1,000 knowledge centers in the Asia-Pacific area by 2025.

What strategy does NBS use for branding?

Let us have a look at the social media post first.

Leaders regularly ask how to create a performance culture emphasizing personal accountability, yearly planning, staff involvement, and outcomes. According to the analysis, these remain a significant problem for many businesses. Leaders want people to do what they need to do—and do it without being told (i.e., personal accountability), they want engaged employees (and Gallup’s research continues to show a significant drag in this area), and leaders want people to help move the company forward—toward results.

To do this, most leaders will still gather for ‘strategic planning.’ It is a terrific day for discussion and delving into some problematic topics. However, as time passes, the idea vanishes into thin air. Everyone returns to doing what they have always done since that is what they are familiar with.

Annual planning is essential if you want to create a performance culture because… 

No one can build a performance culture without personal and leadership accountability outlined in a detailed yearly plan. What will you keep individuals accountable for without an overall action plan? How are they meant to understand what you want them to do? Von Moltke’s early publications emphasize the need for a framework for individuals.

Strategic yearly planning allows decisions to be justified rather than rationalized. This coin has two sides to it. To begin, a plan outlines your primary goals for the year. As a result, you create a foundation for saying ‘no’ to all the flashy goods that will appear during the year. Second, decision-making is generally faster because you’ve provided your leaders with a framework to assist and guide their decision-making—whether it’s about purchasing new equipment, employing new employees, or investing in training.

Strategic yearly planning requires you to examine both externally and internally. Maximizing income also entails becoming more efficient with the monetary resources obtained. A robust Annual Plan will highlight revenue and profit because you might have much revenue and no gain. It provokes talks that might otherwise go unnoticed. We somehow believe everything will miraculously work out (which they rarely do). Annual planning encourages in-depth discussions that unite individuals and shift the tide toward proactive rather than reactive thinking.

These factors lead us to the conclusion that the archetype to which the National Book Store belongs is Everyman.

• The archetype craves interpersonal relationships.
• The archetype attempts to connect with others and blend in.
• To fit in, the archetype generates universal, meaningful values characteristic of themselves.

The following are the message levels of the Everyman archetype: 

When you feel disconnected and alienated, the archetype urges you to act.

• The archetype portrays individuals seeking association since Everyman feels alienated and alone.
• These companies tell us that we need to work on our social skills, find a place to belong, and find support and companionship.
• These enterprises also serve as a reminder to treat everyone with dignity, regardless of their abilities or circumstances.

If you want to establish your brand identity, the Everyman archetype is ideal.

• People may feel as if they belong or that they belong due to the service provided.
• The cost varies from moderate to cheap.
• It was developed or promoted by a company with a traditional management culture.
• It seeks to differentiate itself from more expensive competitors.

One thing you should be aware of! 

We propose that you read “8 Steps to Complete Archetypal Branding” to learn how it may help you strengthen your messaging.

After reading the book, you will receive detailed answers to the following branding questions.

To begin, you will discover how to convey a distinct and clear message to your audience by comprehending the mood of your product and brand. What is the essence of your desired message expression? 

Using archetypes, create all your brand pieces. What exactly do I mean? The motto, logo, packaging, and retail designs were all inspired by the archetypes’ flowing tale.

In the digital era, we must achieve this by putting everything into action. How should I deal with my clients? How to apply the 12 archetypes to achieve company objectives and increase profits.

The primary aim is to become a hero, while the secondary goal is to get experience. We may combine these ideas and employ archetype-based communication to make the message more powerful.

SWOT Analysis of National Book Store

Strengths: 

• They meet all their consumers’ requirements.
• They have the most convenient branch locations.
• Self-motivated employees.
• Together with their business partners, they continue to expand their outlets indefinitely.
• They meet all their consumers’ requirements.
• They have the most convenient branch locations.
• Self-motivated employees.
• Together with their business partners, they continue to expand their outlets indefinitely.

Weaknesses: 

• Their web ads are out of the current.
• In comparison to Divisoria, their items are prohibitively pricey.
• They require an information system for marketing and sales (for example, an automated purchasing system).
• National Bookstore products are slightly more costly than those found in charity shops, bazaars, and areas like Divisoria, where most Filipinos may buy more reasonable goods. 
• Customers only consider NBS handy and accessible regarding actual shop locations, not its online presence, which is inferior to rival bookstores.

Opportunities:

• Innovation and technological advancement.
• Building effective methods for supporting customers, especially during fixed seasons (for example, back-to-school promotions).
• They are lowering some of their product prices.

Threats:

• A rising number of people prefer to visit Divisoria and other locations.
• Filipinos are looking for low-cost school supplies.
• National Bookstore products are slightly more costly than those found in charity shops, bazaars, and, notably, areas like Divisoria, where most Filipinos may buy more reasonable goods. 
• Customers only consider NBS handy and accessible regarding actual shop locations, not its online presence, which is inferior to rival bookstores.

Segmentation Strategy of National Book Store

But first, a short commercial break!

Whether your child is just starting School or going to college, a little forethought goes a long way regarding back-to-school shopping. Consider it a head start on completing your child’s schoolwork.

You don’t have to be a seasoned shopper to buy school supplies. With the correct attitude, you could enjoy visiting the National Bookstore. It is, after all, a type of retail therapy.

Stepping inside a bookstore a few weeks before the start of the new school year is bound to make any parent cringe. They realize it will be challenging to fit in with other anxious parents finishing their children’s back-to-school lists. But here’s some good news: If you’re going out this weekend, you can shop at the National Book Store’s (NBS) Grand Back-to-School Fair.

One disadvantage of going to bookshops during back-to-school season is having to search among heaps of materials before finding what you need. The battle is real! Everything is carefully sorted and categorized at the fair, so you must select what’s on your list and put it in your basket.

Backpack to School (complete with essential materials) is also available for Grades 1 to 3 for Php345 and Grades 4 to 6 for Php445.

We’ve all visited multiple branches to fulfill our school supply lists, but the fair has practically everything you need. Please take note of the different zones to make shopping easier: The red zone is for convenience, and it contains necessary supplies as well as packs and bundles—the shop dedicated blue area to quality, with top products from every category on exhibit. The green zone is good value, featuring goods and discounts that impress a frugal shopper.

Hence, the National Book Store has opted to target Conscious Progressives.

What details do we know about this segment?

Values and lifestyle:

Self-aware progressives are extremely smart. They are always on the lookout for new information. They always intrigue people since they collect profitable data from Progressives. Progressives are realistic in their daily lives. You’ll notice their common sense, especially when it comes to money.

They only spend money on necessities. Progressives work hard to be appealing. They acquire attraction by their uniqueness, intellect, and attractiveness. CPs have various friends in this area on whom they may rely. They enjoy spending quality time with their friends, and the meeting location is unimportant.

Progressives expect a successful career. However, they are seldom prepared to perform penances in exchange for career opportunities. This group appreciates providing as much as possible to the companies where they work. When Progressives believe in something, they will stand by it. They are prepared to clarify their position to anyone with a contrary opinion.

This industry displays environmental awareness through its lifestyle choices. Progressives’ friends are all distinct, each bringing something different to the table. It appeals to progressives since they flourish when surrounded by intellectual people. This group places a high priority on its family. They try to spend quality time with their family regularly.

Progressives look forward to gaining approval for their accomplishments from their loved ones. They cherish their alone time as well. It generally occurs while they are dealing with and reflecting on the frantic priorities of their lives. Progressives are truthful and devoted in their relationships. They are more likely to establish long-term relationships. 

From the standpoint of shopping:

Progressives will consider advertisements that are engaging. Aside from being entertaining, promotions should communicate a message or conceal critical information.

Because Progressives have always appreciated deep thought, this market needs to understand more about the packaging of the products they buy. Progressives are only interested in the thing and its utility.

Even when Progressives buy products for emotional reasons, they consider their practicality. Another significant factor to consider while selecting an object is its quality. Progressives believe in apparel because they care about their looks.

The bulk of the time, Progressives buy warm, essential clothing pieces.

Other interesting facts:

Progressives are the most socially active group, with hobbies that reflect their intellect. Despite their best efforts, progressives occasionally fall into the mainstream group. This population consumes media from various sources, including radio, newspapers, and internet networks.

Overall, the National Book Store has been in operation for over a century and is unquestionably worthy of special attention. In this essay, I discussed some reasons for this company’s success in this competitive business. This post focused on National Book Store’s marketing tactics, SWOT analysis, and target market. I hope it helps you find answers to your queries on this subject. Check out the main page of our website to discover more about the ongoing expansion of other well-known companies.