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Be2 g2 Iceberg Wip

Be2 g2 Iceberg Wip

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Published by: api-3849985 on Oct 19, 2008
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03/18/2014

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BE2_Group2_WIP
ICEBERG
Page 1 of 56
RMIT International University Vietnam
Bachelor of Commerce Program
ASSIGNMENT COVER PAGE
Your assessment will not be accepted unless all fields below are completed
Subject Code:
BUSM2371
Subject Name:
Business Enterprise 2
Location where you study:
RMIT Vietnam \u2013 Saigon South Campus
Title of Assignment:
Work-In-Progress
File(s) Submitted
BE2_G2_ICEBERG_WiP.doc
Student name:
Nguyen Thuy Trang
s3160865
Le Thi Anh Thu
s3160794
Dao Cong Duy

s3153660
Ha Tran Phuong Ngoc s3142619
Le Thi Tuong Vi

s3131818
Learning Facilitator in charge:
Mr. Peter Tran
Assignment due date:
29 August, 2008
Date of Submission:
29 August, 2008
Late Submission Approval
NA
Number of pages including this one:(P l ea s e
number your pages like this: page 1 of 7, page
2 of 7, etc)
56
Word Count:
(Main Content)
9,300
BE2_Group2_WIP
ICEBERG
Page 2 of 56
EXECUTIVE SUMMARY

Yakult Honsha Co., Ltd was established in Japan in 1930. Their core product is Yakult Probiotics fermented milk which was proved to help people\u2019s health and wellness, as well as nice complexion and a slim form. Yakult entered Vietnam in 2006 (Yakult Vietnam) and they have just made their sales since June 2008.

Up to now, the business operations do not live up to expectation due to their incompetent marketing and promotional activities. As a consequence, this report was composed to analyze Yakult Vietnam\u2019s current situation, and recommend feasible marketing strategies to help them increase their sales in Ho Chi Minh City market in particular.

The marketing plan was composed of 8 main parts. The first one Company information described Yakult Vietnam\u2019s history as well as their operations. With the mission statement focusing on people\u2019s health and happiness based on expertise in life sciences and microbiological researches, they have set such ambitious business objectives as 30% market share in HCMC by the end of the first year and the profit after tax rate up to 15%. Their business strategies were differentiation in product and services (with high quality and Japanese-technique and helpful Yakult Ladies squads).

The second part was Market research & analysis concerning detailed discussion of the market Yakult operates in. This included knowledge about their opportunities, targeted segmentation, main competitors with their specific products and customers, and a SWOT analysis to summarize all the achieved information. Significant findings were: Vietnamese households spent their majority on food and beverage consumption, the country\u2019s population would maintain its youthfulness until 2020, and the average income levels were projected to rise unstopped from 2002 to 2009. In addition, the fact that Yakult was facing harsh competitiveness from many rivals, e.g. Vinamilk, Dutch Lady and Campina who had vast customer backgrounds was also a noticeable point.

BE2_Group2_WIP
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Page 3 of 56

The next section discussed Yakult\u2019s production strategies. First, regarding the quality and brand name, their products were recognized all over the world. With billions of friendly Probiotics bacteria, they were proved to balance human\u2019s digestive system, enhance immunity and reduce remarkable amount of toxics. In addition, their packaged bottles were handy, convenient and recognized, making it an outstanding point to the customers. However, the design was too simple and unattractive, which might be a drawback in such an appearance-oriented market as Vietnam.

Regarding the price, Yakult Vietnam applied \u2018value-based\u2019 skimming pricing strategy on the basis of hi-tech equipment and innovative technology from Japan. Moreover, we also planned to offer quantity discounts and geographic pricing to boost the sales result. Two positioning maps comparing Yakult\u2019s price and quality and convenience with other brands were also come up with to confirm our skimming method.

Most importantly, this marketing plan proposed the detailed promotional strategies helping Yakult enhance their profit. We used 3 methods altogether: marketing, promotion and sponsorship. Our intended marketing channels included HTV7, HTV9, The Gioi Phu Nu and Tiep Thi Gia Dinh Megazine, and VnExpress website. We would also offer price packs and coupons on the occasion of holidays to attract purchase, as well as sponsorship on Suc Song Moi and charity programs to raise our brand awareness. The overall budget for this campaign during the first year was VND 1,992 million.

The next section, Customer strategies described how we went through Marketing & stimuli, Buyers\u2019 black box and Buyers\u2019 response steps to reach the consumers. This included some cultural and social factors, personal perceptions, psychological and social class backgrounds to decide what consumers buy. In addition, the distribution services that we offered also affected our sales. Currently, we had retail stores and partner supermarkets all over the city, and in the future we would expand our Yakult Lady squad to larger than just Phu Nhuan District and Dist.11 at this moment.

The last part offered detailed figures of our projected sales and profits in the effect of this marketing campaign. Some assumptions were also defined clearly for the readers to understand the worksheet.

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