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3. Marketing process
Above is a simulation image for five basic steps for what is a marketing concept. According to Armstrong and
Kotler, every business created must understand their customers while creating their own value and connecting
with customers are the first four steps in the marketing process. Besides, the business will gain the benefits
generated from those customers in the final stage of the marketing process. Going into more detail, I will
explain in detail every step of the operation in this process.
3.1.5 Marketplaces
A market is a gathering place for groups or individuals to buy and sell products and services. Marketing is
considered a great and important source of market management to create positive exchange relationships.
However, establishing these connections requires considerable effort, such as sellers having to find people
who want to buy, find what they need, then create something right for them. in line with market trends, then
set prices to suit income levels, promote and transport that product to consumers. Not only that, but they also
have to research and survey consumers, thereby developing products on communication platforms, prices and
services are equally important. (Kotler and Armstrong, 2012).
Example UNIQLO's goal before entering any market is always to understand deeply what the essential needs
of customers are as well as to survey the market research that the business is aiming to expand. . It is for those
same goals that UNIQLO has listened to the opinions of customers in the first market operating in Vietnam -
Ho Chi Minh City, UNIQLO has followed the call of consumers in Hanoi capital. which opened its first store in
the North at Vincom Pham Ngoc Thach. After that, a total of 6 stores in busy locations in Ho Chi Minh City and
Hanoi were opened according to people's consumption needs. What makes UNIQLO decide to open across
chain stores in prime locations is the annual economic growth rate of up to 7% of the young and dynamic
population, in line with the products that UNIQLO is targeting. The economic market in Vietnam is also full of
promise in the future, so this is the reason why UNIQLO chose Vietnam as a place to develop its business. One
year after UNIQLO entered the Vietnamese market, it was also a year when the whole country was affected by
the Covid-19 pandemic. To meet the needs of customers far away, UNIQLO has launched a shopping website
and mobile application, offering more than 15,000 products for men, women and children. Huge variety of
sizes, from XS to XXL, and this is also exclusive to the UNIQLO online store. (vietnamnet.vn) (baotintuc.vn).
The marketing mixes commonly used are divided into four broad groups, known as the four Ps of marketing:
product, price, place, and promotion. To deliver business value, the company must create a product that meets
the needs of consumers. After that, they have to decide the asking price of that product to match the income
that the customer segment they are targeting. Next, they have to find the right place to bring that product
offering service to customers. Finally, it must communicate with the target customers about the offer and
convince them of its value (promotion). (Kotler and Armstrong, 2012).
Example
Product UNIQLO is known in the fashion market as a casual clothing brand that does not come from trendy
designs, does not take inspiration from trendy catwalks or only produces products. Trendy clothing, UNIQLO
only focuses on producing basic and essential products for urban people. Regarding the quality of products,
UNIQLO always wants to bring the best quality possible but at an affordable price for everyone. Not only that,
UNIQLO is constantly innovating models and styles of all ages and genders. Regarding the Vietnamese market
in particular, UNIQLO always researches the needs and preferences of consumers, besides learning about the
weather, climate and the average size of consumers in Vietnam such as Spring Summer collection with
LifeWear style suitable for the weather in Vietnam or safe products for the skin with AIRism technology,... To
meet the needs of customers far away, UNIQLO has launched a shopping website and mobile application,
offering more than 15,000 products for men, women and children. Huge variety of sizes, from XS to XXL, and
this is also exclusive to the UNIQLO online store. (vietnamnet.vn) (baotintuc.vn). In terms of product
development, the company has a very clear philosophy of “creating superior quality products”, with the given
philosophy, UNIQLO is not only focused on understanding sewing technologies and good fabrics, but the
company also puts the needs and satisfaction of customers first. This is also the foundation for UNIQLO to build
the company's marketing plan.
Places As mentioned, Vietnam is considered a valuable and promising market, which is assessed through
market research by UNIQLO and evidence that this garment enterprise has opened large and small stores in
turn. in the two cities with the most developed economies in Vietnam, Ho Chi Minh City and Hanoi (tuoitre.
With a large population size and a significant proportion of young population, UNIQLO has started with two
large stores in the two largest cities of Vietnam, concentrating most of the busy commercial areas, namely
Vincom Mall in Hanoi. Noi and Saigon Center in Ho Chi Minh City. Because of the strong attraction of UNIQLO,
tourists from near and far visit the big stores in these two cities every time they visit and play here, in order to
create favorable shopping conditions for consumers in these two cities. distance and at the same time saving
costs, UNIQLO launched an online store on November 5, 2021 with both Vietnamese and English language
versions. Customers will be able to shop, make complaints and ideas, and inquire about the status of their
orders. (uniqlo.com).
Price UNIQLO is known as a successful retail chain in terms of both sales and popularity. This is a fashion brand
that is not too expensive but still offers modern, simple, and unique product designs. UNIQLO targets
customers of all ages, including babies, so the quality of fabrics is very focused on by UNIQLO, and at the same
time, the prices are very affordable and suitable for the individual spending of consumers. Therefore, UNIQLO
is always facing increasing competition from other brands. As a result, the company implemented penetration
pricing approaches to increase sales. Although the product price is low, it is still competitive with the prices of
competitors. The company offers lower prices for its products to promote traffic, and because of this, has
attracted the attention of the consumer market a lot. This has resulted in increased sales, resulting in higher
sales and profit margins.
Promotion Regarding product promotion, UNIQLO is known through various mass media as well as popular
social networking platforms. Besides, the company also uses traditional advertising methods such as on
television and radio. To save money for businesses, UNIQLO has taken advantage of its promotion on social
networking platforms so that it can be less expensive. Taking advantage of the large percentage of consumers
using social media, the company advertises on a variety of social media channels, focusing on YouTube,
Facebook, and Twitter which are popular with a sizable number of people worldwide. track and use. To affirm
its recognition, UNIQLO has cooperated with Next Marketing to deploy advertising campaigns on cars in Ho
Chi Minh City and Hanoi. The image of the fashion brand Uniqlo will be spread everywhere and reach potential
customers through this advertising campaign while giving UNIQLO a significant impact on customers and
increasing sales for the brand. (NextMarketing, 2021).
3.4 Engage customers, build profitable relationships, and create customer delight
3.4.1 Customer relationship management
The most important concept in modern marketing is customer relationship management. This requires the
most accurate management of customer information to maximize customer loyalty. Customer relationship
management in a broader sense refers to the process of establishing and maintaining customer relationships
by providing superior value and customer satisfaction. (Kotler and Armstrong, 2012).
Example Stemming from the gratitude culture in Japan's long tradition, Thank You Week was introduced by
UNIQLO with the goal of aiming at a series of meaningful activities, connecting with the community and
customers. With the goal of contribution and sympathy, in April 2020, UNIQLO donated 500,000 masks and T-
shirt products with the message "Vietnam, Together we will win" to encourage the spirit of doctors and nurses.
frontline medical staff. Specifically, UNIQLO cooperates with local organizations and communities to raise the
level of RE.UNIQLO program with the goal of encouraging 1,000 customers to join in donating UNIQLO clothes
that are no longer in use and send them to where they are needed. Especially, the first 1,000 customers
participating in the RE.UNIQLO program will receive recycled products with meaningful messages about the
environment. Through these meaningful activities, UNIQLO continues to affirm UNIQLO's long-term
commitment to bring positive contributions to society, along with the orientation to promote sustainable
development in all its activities of Fast Retailing Group as of 2030. (baodautu.vn). Through customer
appreciation programs or social-oriented public activities that UNIQLO organizes, which often bring about the
above spiritual gifts of environmental protection, the company has also emphasized the aspect of
environmental protection. Building relationships between businesses and customers must be good in order to
build solid trust for customers in the future. Always caring about customers and creating conditions for
businesses to be closer to customers through gratitude events also show that this business has succeeded in
always attaching importance to the issue of strengthening relationships with customers.
Feature 3. RE.UNIQLO of Thank You Week
3.5 Capture value from customers to create profits and customer equity
The final step requires capturing value in the form of current and future sales, market share and profit. The
company develops high-satisfaction consumers who stay loyal and buy more to deliver superior customer
value. As a result, the long-term profitability of the company will be higher. Customer loyalty and retention,
market share, and customer equity are all results of customer value creation. (Kotler and Armstrong, 2012).
Example Marketing adds value to a company's bottom line. Moreover, marketing helps increase the ability to
bring products closer to consumers and Uniqlo's successful marketing methods have helped businesses
improve sales with increasing customer trust. Uniqlo's parent company, Fast Retailing, recently revealed
Uniqlo's sales in Japan of 842.6 billion Yen per year, up 17.7% year-on-year in fiscal year 2021. Uniqlo's revenue
and profits in overseas markets increased significantly in fiscal 2021, with sales reaching 930.1 billion yen and
profits soaring to 111.2 billion. On the other hand, the regions hardest hit by the Covid-19 pandemic including
South Asia, Southeast Asia and Oceania recorded a 15% drop in operating profit compared to 2021. With
strategic planning was defined by UNIQLO, the business also successfully implemented marketing plans as well
as listened to customers' opinions, which led to a significant increase in revenue and profit for the company
later when the world changed. The world is slowly recovering from the COVID-19 pandemic.
4. Relationships of marketing with other functional departments in
organization
4.1 How marketing influences and interrelates with other functional departerments
4.2 Example
4.2.1 Marketing and Finance
UNIQLO's goal is to promote on multiple digital platforms, always striving to develop promotional strategies through
popular social sites as well as other mass media. Because of this, the Finance and Marketing departments have to work
together to develop promotional plans that fit the company's budget, but still have to bring attractive programs to
attract customers. Store openings or simply launching a new collection in Vietnam also attract a lot of media attention
and are attended by KOLs and influencers. Not to mention, fashionistas are also excited every time UNIQLO opens any
more stores. Because of this large attraction, customers have helped boost UNQLO's revenue as well as profits.
4.3 How Marketing supports the wider organizational context in terms of vision, mission and
purpose
All departments of Uniqlo play an important role in the growth of the company. Uniqlo's vision and mission is
to keep up with current styles and fashion trends and produce products that are not based on current trends,
but always with a focus on LifeWear style. Instead of following fashion trends, UNIQLO only focuses on the
brand philosophy of “Make for all”. The majority of profits and revenue are based on market expansion in the
US, China and on online sales channels, UNIQLO also aims to become the world's largest clothing retailer in
2020 and future.
With the combination of the corporate finance department, UNIQLO has a stable and stable financial
foundation, so its strategies and marketing programs have been successfully implemented by UNIQLO. public,
bringing consumers closer to the product more and more. The finance department has also helped the business
in particular and the marketing department in general to estimate the budget, and consider what to put that
amount of money into first to save the company's budget. With the advertising and marketing programs that
UNIQLO has implemented, there is almost no such thing as using too much of the company's budget or
unnecessary, besides using that budget to work for the benefit of the company. such as donating VND 11 billion
to the Covid-19 vaccine fund during the difficult economic times of the country or donating more than 30,000
products with AIRism and DRY-EX technology at a total price worth up to 11 billion VND to medical staff,
frontline volunteers,... Not only with the benefits that UNIQLO has contributed to the Vietnamese market as
above, but also that UNIQLO always listens to ideas. From there, the company offers many attractive
promotions and changes to suit the majority, so the company has partly built more trust and increased prestige
for consumers all over the world. country. Thanks to the growing trust, UNIQLO has become more known, and
revenue and profit have also increased significantly. The trust and satisfaction of customers is the premise to
help the vision and mission of UNIQLO increasingly reach success.
The Manufacturing Department works with the Marketing department to achieve the common goal of
providing high quality products at affordable prices to their target audience. UNIQLO has introduced simple
yet technologically advanced clothing lines into designs such as HeatTech and Airism, which are their most
popular product lines to date and are chosen by consumers. consume much. In addition to products that
integrate modern technologies, UNIQLO continues to launch its simple everyday product lines at reasonable
prices despite the costs of the production process and types of products is overpriced. In addition, to avoid
shortages, the purchasing department will have to ensure that the quantity of goods is met as quickly as
possible.
5. Conclusion
Through the above analysis, I realize that UNIQLO is a very worthy fashion company for us to invest in and
experience. Although it has been through a period of time when the Covid-19 pandemic affected the
company's profits and revenue, UNIQLO still stands firm in the market and consistently launches high-quality
products but the selling price is still low. change. With the vision and mission to become the leading retail
enterprise in Vietnam and provide the best services and products to customers of all ages, I highly appreciate
the purpose and development orientation of UNIQLO through revenue ratios and community-oriented social
activities. Worth mentioning is the close cooperation between the R&D, Finance, Procurement and Production
departments that always accompany the company's goals to help UNIQLO grow more and more successfully,
generate more profits and revenue attracts customers. At the same time, the company has been building trust
for customers in particular and society in general
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