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Describe how your products are to develop sustainable competitive advantage in Viet Nam a Definition of product and explain 3 levels of product A product is something that satisfies a set of wants that customers have. Product have three levels, includes core product, actual product and augmented product .

Figure 1 : 3 levels of product The core product is not the tangible product but is the ultimate benefit that the customer will receive when they purchase your product. With the characteristics of product of Vinamit , the core product is to get health benefits to customers . Actual product is product which incorporates the quality, features and design, brand name, packaging and other attributes that combine to deliver core product benefits. And the last , The augmented product is the non1

tangible aspect of the product. This is the area of product where you can increase perceived value and therefore often centres around unique selling propositions. In Vinamit , Vinamit offering a premium service with excellent customer service. On other hands , to proposal of how 2 products are developed , Vinamit should has the consideration about Product attributes , Branding , Packaging , Labelling , Product support services. Describe the main product features, major benefits received by those using the product, current branding strategies, etc. VinaMit has been doing well in assuring the Product Attributes quality and special feature of its products. By using chemical-free technology to retain typical taste of beef and nature characteristic including vitamin, nutrition of fresh vegetable , it helps Vinamit to keep product ( Lettuce & Broccoli Chips and Beef Jerky ) at high quality A brand is the identity of a specific product, service, or business ( winkipedia.org ). VinaMit has a strong brand in Viet Nam . Company Branding should be focus into it to take the advantages to develop to new product .Company also need to create simple brand to make customer easier to understand . Vinamit has been doing very well in this part . Company Packaging is providing information about

products, place of production, expiry date of product to customer and make them get more satisfy about package of product .

Labeling

Vinamit has four labels namely Vinamit, 2

Tomeli, Luna New Year Gift Box, and Follow Me Vinamit label include dried fruit, soft dried fruit and dried fruit barbecue (vinamit.com.vn ) . To develop two new product , Vinamit should be focus to make the difference of labeling of 2 products follow by all labeling which Vinamit had Product support service is very important because it can proved the careness of company Product support service to customer . Vinamit need to try to them best to make customer satisfy during using this product of company.

b Definition of Differentiation and Competitive Advantages and explain how your products sustain competitive advantages in Vietnam

Differentiation advantage occurs when a firm is able to obtain from its differentiation a price premium in the market that exceeds the cost of providing the differentiation . Competitive advantage is condition which enables a company to operate in a more efficient or otherwise higher-quality manner than the companies it competes with, and which results in benefits accruing to that company (investorwords.com ) In general , we have many ways to sustain competitive advantages for product such as product , services , personal and image differentiation . But , in the case in Viet Nam economy and situation of Vinamit , product and image differentiations should be use : Product differentiation can be achieved in many ways . It may be as simple as packaging the goods in a creative way, or as elaborate as incorporating new functional features. Vinamit is creating a new advertising campaign or other sales promotions instead to achieved product differentiation . Armstrong and Kotler pointed out in Principles of Marketing that when competing products or services are similar, buyers may perceive a difference based on company or brand image ( 3

image differentiation ).In the case of Vinamit , Vinamit always works to establish images that differentiate them from competitors . Vinamit also focus to create a symbol and slogan which can be an easily recognizable trademark of a company that reminds the consumer of the brand image . c Positioning Strategy Positioning is the act of designing the companys offer and image so that it offers a distinct and valued place in the target customers mind (BPP Professional Education, 2004, pp.182). Based on the characteristic of two new line product in scenario , Vinamit should accesses the dried meat market in Vietnam with the product Beef Jerky have high quality and high price or the snack market with the product Lettuce and Broccoli Chips have high quality and low price . 2. Advises your client on the best way to organize distribution of the product to provide optimum customer convenience. a Definition of Distribution Channel Distribution channel is the means of getting the goods to consumer (BPP, 2004, p.236). As said by Kotler and Armstrong (2001), members of the marketing or distribution perform several functions such as providing information for the company, promotes their goods and services, have contacts with buyers, matching buyers needs, as well as negotiate prices so that goods can be transferred. Some other functions include physical distribution, financing and risk taking Distribution has five rights. There are the right product, in the right place, at the right time, in the right quantity and for the right price.

b Conventional Distribution Channel and Vertical Marketing channel

scribd.com With the table above , we can see clearly Vinamit should choose Vertical Marketing channel . It brings many advantages and can provide economies of scale to any company which adopts it if you compare to Conventional Distribution Channel . It can improves performance , helps manager conflicts that may arise and improved distribution of distribution which conventional is lack b Logistic Management for 2 products Logistics management is the governance of supply chain functions. Logistics management activities typically include inbound and outbound transportation management warehousing , inventory management , etc .. Transportation management It s very important for Vinamit to transport material provide for production . Vinamit has a great transportation management system with professional employee . They always delivery material (Thit Bo Kho (beef jerky) , jackfruit, banana, sweet potato ) on time and also keep it at the highest condition . 5

Beside , Transportation of Vinamit to inside country and foreign country should be take care to get the highest effective and make sure the material and products always get the highest quality Warehouse management As a manufacturing company like Vinamit , warehouse is one of the most important things . It keeps all products and material in the

highest quality to provide the best products for customers . With the large and provide goods condition ( clean and dry ) to maintain

products is done under strict supervision and standards of international quality management BVQI, HACCP, GMP, ISO , Vinamit has a great warehouse management . Another things , The size of the warehouses should be suitable with the size of the market

Inventory management

Vinamit always has the balance with sell products to foreign country and Viet Nam to keep the inventory in storehouse at medium amount. Vinamit increase the store up products with high amount before Christmas and New Year because the demand for product gets the highest this time. Responsibilities of manager and accountant in this situation is very high.

3 . Give some advice to your client on how to set the price(s) of the product in the light of the organizations objectives and the market they are entering 6

a Definition of price and the role of pricing Price can be defined as a measure of the value exchanged by the buyer for the value offered by the seller ( BPP , 2004 , pg 261 ) It might be expected, therefore, that the price would reflect the costs to seller of producing the product and the benefit to the buyer of consuming it. Although pricing fulfils a number of roles, in overall terms price is set to produce the level of sales necessary to meet the objectives of the business strategy ( BPP , 2004 , pg 261 ) . However , the role of pricing may be is get maximising profit and also take care about cost and profit . b Considerations when setting price We have many element which have the considerations when setting price : The market, demand and price elasticity of customers : this is the most important things . Every company have to get it to have strategy to develop new produce and get the effectiveness in business . All the things above require company have the flexible and multiform in changes during doing business Product costs : The product cost is the cost of all the different components which make up the product. There are four main costs constituting the product cost : material cost , manufacturing cost , component cost and storage cost. Marketing strategy, objectives and mix : It s very important . With great strategy in marketing , object ond mix , Vinamit should have more advantages in setting price Competitors strategies and prices : have many influent to Vinamit . it requires , Vinamit have the flexible and multiform in changes during doing business . Customer perceptions of value : the price that customers are able to buy the products. Other Consideration : may be external consideration such as economic crisis .It made the sharply increase in price of products. c. Recommendations on the prices for two products. Let see the table below to get more information

Lettuce and Broccoli Chips Price 6000 VND/50gr packet

Beef Jerky 45,000 VND/100g packet

Market, demand and price Snack product with goods The demand of Beef Jerky elasticity of customers. and healthy is customer has the same to compare with

needs . Besides , demand of Lettuce and Broccoli Chips current product is very high . The ceiling price that because it s very suitable customers may accept is with foods of Vietnamese . about 46,000 to

Customers can accept the 47000VND/100g. With the maximum price of 7000- characteristic about quality of 8000VND/50gr.However , this product , the price may

with the high quality of be at 45,000 VND/100g. product , the price is 7000 VND/50gr accepted Product costs Base on raw materials used Raw materials used to is may be

to produce the chips are produce the product is high cheap and Vinamit using and using higher technology higher technology in product in product the cost of product the cost of product is cheap is high from 40000/100g from 2000 to 3000VND/50 gr The companys pricing With high market share in Vinamit should use strategy general and low price , in this to increase market share with case , Vinamit should focus a high price to maximum to improved promotion and profit. advertising Competitors strategy. pricing Competitor which many

strategies

company succeed in the past product of The strongest Competitors of

Lettuce and Broccoli Chips VinaMit in Viet Nam is Anh 8

can be Kinh Do , etc. The Vu beef jerky .The average current price of Kinh Do is price for a kg of Anh Vu beef 5500VND/45gr and the jerky is about

product of them is very 40000VND/100g. The price multiform , a little more of Vinamit is more than expensive than that of higher but Vinamit have the convenience of customer VinaMits products.

abot quality of product which another competitor cannot provide Other factors such as It made the sharply increase in price of products and Vinamit must consider offering the reasonable price, suitable for customers pocket and suitable with the current economic situation of Vietnam.

economic crisis

4. Illustrate how promotional activities integrated to achieve marketing objectives of Vinamit a Definition of marketing communications mix and the tools of marketing communication mix Marketing communications mix ( MCM ) is the specific mix of advertising, sales promotion, public relations, personal selling, and direct marketing tools that the company uses to persuasively communicate customer value and build customer relationships. ( Nelda slide ) There are five tools of MCM which I mention in this outcome including : Advertising , Sales Promotion , Public Relations , Personal Selling and Direct Marketing

Advertising

Advertising

is

any

paid

form

of

non-personal presentation and promotion of ideas, goods, or services by an identified sponsor( Nelda slide ) . In this case

Vinamit can choose to advertise on mass media such as TV, newspaper, magazine, radio etc and should focus on TV and internet because it s very popular in Viet Nam and that is the shortest ways to connect with customers Sales Promotion Sales promotions are short-term incentives to encourage the purchase or sale of a product or service. With develop new product , VinaMit can use some promotion activities such as reduced sale in special day ( 1- 2 month ) or increase amount of this product but keep price Public Relations Public relations relations with the is building good various companys

publics by obtaining favourable publicity, building up a good corporate image, and handling or heading off unfavourable rumours, stories and events (Nelda slide ). VinaMit Vinamit should organize some programs which celebrities person as well as Vietnamese representation introduce and talk about the quality of their product. Beside , Vinamit need take care of public relations for corporate and brand image. Personal Selling Personal selling is personal 10

presentation by the firms sales force for the purpose of making sales and building customer relationships (Nelda slide ). . At present , many small business and seller want to co-operate with Vinamit.

Direct Marketing

Direct marketing is direct connections with carefully targeted individual consumers both to obtain an immediate response and to cultivate lasting customers (Nelda slide) . VinaMit customers can directly communicate mail, to

through

direct

direct

response advertising, etc.

b Definition of Integrated Marketing Communications Integrated marketing communications is the concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent and compelling message about the organisation and its products ((Nelda slide ) To achieved marketing objectives , managers can use intergrate promotional activities with 5 steps : Identifying the target audience , Determining the communication objectives , Designing a message , Choosing media , Collecting feedback .

5 steps

Response of Vinamit

Identifying the target The target audience of Vinamit clearly is customers who will but audience Determining communication objectives Designing a message two new products of company . Therefore it s very multiform . the Vinamit should set its primary objective is make people be aware of the two new products and also emphasize the benefits of the products to customer . Vinamit can use AIDA model ( Attention , Interest , Desire , 11

Action ) . However , because Beef Jerky and Lettuce & Broccoli Chips are good for health and hygiene, so Vinamit should design a message focus on health issues.

Choosing media

There are two channels that VinaMit can choose: Personal communication channels and non-personal communication

channels. VinaMit can better choose a combination of the two channels to get the highest effective In Personal communication channels Vinamitcan choose face to face, phone, mail and internet chat communication. In Non-personal communication channels. There are three main channels, namely Media, Atmospheres and Events. However in media , VinaMit should broadcast (TV) other online and electronic media (Email, websites) because they growth very fastand solid in Viet Nam Collecting feedback Vinamit should collect feedback from customers to know the needs of them and also improve quality of product to attractive more customer . 5 .Analyze different sorts of marketing mix (all 4Ps) and the additional elements of the extended marketing mix would you recommend for each of the two products for two different segments. a Defining extended marketing Mix The marketing mix is probably the most famous marketing term. Its elements are the basic, tactical components of a marketing plan. Also known as, the 4P's, the marketing mix elements are price, place, product, and promotion(marketingteacher.com,). In addition, there are three other elements of marketing mix including People, Process and Physical Evidence. People : People refers to how staff of any organization interacts with customers and other stakeholders . In Vinamit , people includes : managers , employee and consumers . By 12

developing two new products , people should be training interpersonal skills , setting standards of conduct and may be creating customer service teams . Process : is the methods and procedures companies use to achieve all marketing functions Vinamit uses process to achieve : new product development , promotion , sales , etc . Physical evidence : is the element of the marketing mix that refers to the tangible expression of a product and how it is purchased and used .In case of Vinamit , it shows the condition of company . a Recommendations of marketing mix for Beef Jerky Product Beef Jerky is a new product and it is produced with a high quality and hygienic, so the company should keep the current advantages of this product and also invest to improved technology and new innovation to take it become more multiform and delicious Price Place As I mention about , the price of Beef Jerky is 45000VND/100g packet Kind of this product is very popular in Vietnamese . It can found customer everywhere. To make more easier for selling product , Vinamit should focus to open more store in big city and improved distribution network Promotion VinaMit can use some promotion activities such as reduced sale in special day ( 1- 2 month ) or increase amount of this product but keep price and also improving advertising strategy on TV , and Internet

People

Vinamit is training interpersonal skills ( attitude and communication skill to satisfy clients), setting standards of conduct and may be creating customer service teams .

Process

There are three processes that Vinamit must follow: Raw materials purchase, Beef Jerky production, Distribution process and make sure the quality of this process is the highest which follow by the international standard .

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Physical Evidence

VinaMit should pay attention to this element to communicate satisfaction to potential customers. And also building up the quality of product follow by standards of international . Besides , managers of Vinamit should improved all condition in company such as location (fixing showroom, office and always available products to customers hand ) and take care the life of employee

b Recommendations of Marketing Mix for Lettuce and Broccoli Chips. Product Lettuce and Broccoli Chips is a new product and it is produced with a high quality and hygienic, so the company should keep the current advantages of this product and also invest to improved technology and new innovation to take it become more multiform and delicious Price As I mention about , the price of Lettuce and Broccoli Chips is 6000VND/50g packet Place Kind of this product is very popular in Vietnamese . It can found customer everywhere. To make more easier for selling product , Vinamit should focus to open more store in big city and improved distribution network . Promotion VinaMit can use some promotion activities such as reduced sale in special day ( 1- 2 month ) or increase amount of this product but keep price and also improving advertising strategy on TV, and Internet

People

Vinamit is training interpersonal skills ( attitude and communication skill to satisfy clients), setting standards of conduct and may be creating customer service teams .

Process

There are three processes that Vinamit must follow: Raw materials purchase, Lettuce and Broccoli Chips production, Distribution process and make sure the quality of this process is the highest which follow by the international standard 14

Physical Evidence

VinaMit should pay attention to this element to communicate satisfaction to potential customers. And also building up the quality of product foolow by standards of international . Besides , managers of Vinamit should improved all condition in company such as location (fixing showroom, office and always available products to customers hand ) and take care the life of employee .

6 . Explain how and why international marketing differs from domestic marketing a Defining Consumer Market The consumer market is represented by all the individuals and households that purchase products, goods and services for their own consumption. There is an increase in the consumer market each year. Their spending patterns can influence the economy.( ehow.com )

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