Marketing Plan for Magnum in Vietnam Essay

commercializeing whoremaster be defined as Marketing is the activity, personate of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have nurture for nodes, clients, partners, and society at large (Ameri arsehole Marketing Association Board of Director) Base on this definition, Marketing is the set of activities and processes with the purpose that pander the customers, clients, partners and society. In general, it can be said that merchandise is the process that combine each(prenominal) smart set activities to quit the customers and, in the end, get profit from customers satisfaction. 2. Element in selling processMarketing process includes five elements analysis situation, marketing scheme, marketing mix decision and instruction execution and control. Analysis situation is first step in marketing process. In this step, comp whatever has to collect information, entropy and figure to understand internal and external enviro nment. Based on the result of the analysis, company can prefigure the trend of market and compute that whether its ability can adapt with the market or not. In stage to carry out this step, the company can do three analyses below PESTEL analysis Political, Economic, Social, Technology, Ecological and healthy are five macro-economic factors.They are rattling important for company to evaluate the market and decide whether it can develop strongly in this market or not. SWOT analysis This method helps company differentiate its strong and weakness, also the opportunity and thread. Understand these things can make company developing much(prenominal) immutable and limit the risk. It can use the strong to limit the thread and the opportunity to reform the Strong and invite out weakness. The meaning of the SWOT analysis can be described in the idiom He who sees by dint of life and death will meet most success 5C analysis 5 C factor company, customers, competitors, collaborators and Climate.In these things, company helps the firms understand the internal environment, and 4 otherwise help it understand the external environment. only of three analysis methods will help company understand the situation to relieve oneself the suitable strategy in marketing plan to get achievement. The second step in marketing process is marketing strategy. Of course, after finish situation analysis, company has to make strategy decision in marketing derriere on the analysis result. In this step, company has to identify the requirement of market and choose the suitable strategy to run business.It has to do the segmentation, the target market selection, the positioning the product and the proposition to the target market. In adjoining step, the firm has to design tactical plan to achieve the purpose. It will make decision for the marketing mix. It includes 4 P Price Place of distribution resultion Promotion. When these things are completed, company will go to the concl uding step implement and controlling. Because the demand of market can change quickly, company has to monitor all the changes of market to have the change in marketing mix to adapt with the market and create the competitive expediency with competitor.Marketing process II. Marketing orientation course 1. Definition Marketing orientation is a company school of thought aim to meet the needs and wants of customers. There are five type of marketing orientation * production orientation * Production orientation * Market Orientation * Sales Orientation * Social Orientation a. Product orientation Product orientation is one of the marketing concepts, which focus on the product innovation to satisfy demand of customers. b. Production orientation This kind of orientation focuses to the quantity of product.It existed in 1950s the development result of industry in Europe and American. At this period, the firms make massive products to decrease the cost and product with colossal quantity. The firms do not care roughly whether its product can meet the needs or not. This school of thought is popular in that period because it is the time which has many inventions and people have huge demand for well-nighthing stark naked and strange. The clear example for this philosophy is Ford. It produced many car in that time with just only semblance black and it has many successes with this orientation.Today, this philosophy is no longer popular, but still exist in some industry that produce common product such as toothpick, CDs or DVD. c. Sales Orientation The neighboring orientation is sales orientation. This philosophy is applied when the company uses aggressive sales. They believe that they will make more sales and more profit when they use aggressive sales method. With these kinds of company, they will focus on procession product and train the aggressive sales force, which helps them carry out the sale method. The level-headed example for this philosophy should be ins urance company.The dis benefit of this philosophy, same as production orientation, is that it does not focus to the customers requirement. It just tries to sales product as much as possible. d. Societal orientation Societal orientation is the marketing concept that provides the long-term do good for customers and shows its responsibility with social. The products of these companies have same features such as good for health, no harm environment and creating the long-term benefit for customers. They advertise the product through the charity activities. e. Market orientationThe last philosophy, also the main philosophy that is applied to Kinh Do Corporation, is market orientation. This orientation focuses on the customers needs and wants. The company produces product, which can satisfy the customer and use the customers satisfaction to create the profit. The benefit and cost of market orientation of Kinh Do Corporation will be discussed more in next part. 2. Evaluation cost and benef it of Market orientation in Kinh Do Corporation As the assignment mentioned above, Market Orientation focuses on the customers needs and wants and the company will get profit base on the customers satisfaction.The relationship between customers satisfaction and companys profit is shown in the graph below As the chart shows, when the firm applies the marketing orientation, it will identify the demand of customers. After that, the firm will use the selective information from marketing department, and connect all the activities of company to carry out the plan, which has the purpose that satisfies the customer. When the customers are satisfied, they will create many benefits for the company, not only money, but also helps company advertise free with the word of babble out method.Kinh Do Corporation applies the marketing orientation, so it also gets the benefit from customers satisfaction. a. Benefits from Market orientation The first benefit for Kinh Do when applying Market Orientatio n is advertising free because of the word of mouth. With the suitable marketing plan, Kinh Do can satisfy the customers and improve the relationship between customers and company. With focus on the demand of customers, Kinh Do can improve the level of customer, from customer satisfaction to customer retention and customer loyalty.After getting success to satisfy customers, customers will loyal with Kinh Dos product and will buy it again. Besides, they will recommend to other people about Kinh Dos product and so, Kinh Do will have more and more customers. That is the benefit when Kinh Do wants to launch Magnum ice cream. With the huge amount of loyalty customers and retening customers, Kinh Do can well introduce new product to the market because the loyalty customers and retention customers willing welcoming and buying any product of Kinh Do, as long as it still satisfies their demand.The second benefit is that decreasing the legal injury sensitive. This is very important when Kinh Do wants to sell magnum in Vietnam, because Magnum ice cream is premium product, so it has higher price compare with the domestic ice cream. However, with customer loyalty and customer retention, they will not care about the price of product. If it is suitable with their payment ability, they will buy and support for this product. Last but not least, Kinh Do also can receive the long-term profit from market philosophy.When Kinh Do can satisfy the customers and life their loyalty, Kinh Do will gain a huge market share and so, create the stable inhalation network for its product. After getting profit from customers satisfaction, Kinh Do can also use the profit to raiment for new technology or new plan to expand the business and create the competitive advantage with its competitors. Launching Magnum ice cream is one of the important strategies of Kinh Do to get the market share in premium ice cream market.Finally, we can see the different between Kinh Do and Vinamilk- the two bigge st food, throw and beverage companies in Vietnam. Vinamilk applies the societal orientation. It advertises its product through some charity programs such as dairy farm budget for children in Vietnam. The market share of Ki Do the ice cream brand score of Kinh do- is about 45,8%, equal double the market share of Vinamilk (about 20,8%). It can be seen that market orientation creates more benefit and stronger competitive advantage than other orientation. III. Effect of buyer behavior IV. Positioning