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Nils marketing mix includes product designing

Tea marketingassignment assignment

Tea was present in many places from the most important meetings in imperial palace to daily conversations between farmers at the corners of the villages or roads. Tea is known through traditional long-standing poetries or folk songs which a mother usually sings for her child before sleeping. When Vietnamese people remind to tea, drinking tea and tea culture go deep to Vietnamese peoples minds and become an indispensable habit of many people. Today, tea is no longer just a commodity. It has become a source of life for many people living in remote or backward areas.

Tea, which is a key plant in strategy development, is also a big foreign exchange income for the country, especially during integration time with the international community. Stepping into 201 3, along with many successes brought back, the tea industry still has met many difficulties in both domestic and global markets. Only in July 2013, Vietnamese tea companies exported a big quantity of tea products to many countries with total turnover at more than 100 million USED (VITAS, 2013). However, in US and EX. markets, Vietnam tea was refused because of the lack of assurance in food hygiene.

The next chapter, Literature Review, surrounds all the theories which can be seen as basis to develop the research. Besides that, in this part, author also provides information of the common development Of tea industry not only in Vietnam but also in some big countries in the world. After that, with the data collected and built from chapter two, the current situation of the marketing strategies employed for Vietnam tea products is analyses to find out strong points and weak points to develop in the near future.

Last but not least, in final chapter, author summarizes and concludes all the issues presented in previous parts and provide suitable recommendations for the improvements of the current strategies based on the analysis before. 2 Literature review 2. 1 Marketing strategy 2. 1. 1 Definition of marketing strategy Strategy is defined by Chandler (1962) as the hinge goals and objectives of a rim in a long time, and a series of activities and allotment of resources which need for following up these targets.

The figure below shows the process of each stage of STEP and identifies the main components of a complete STEP marketing Figure 3: The step of marketing segmentation Source: Adapted from Dib, S. Et al. (1997, p. 2005) Marketing plan can be considered based on four elements of marketing mix, product, price, promotion and place. With different characteristics of products, companies will analyses all the advantages and disadvantages to have a best marketing strategy along with the product. As Manometer (2003) says, it is advised put the right product in the appropriate place at the proper time. 2. 2. Analysis tools 2. 2. 2. 1 External analysis According to Johnson, Schools and Whetting (2005, up 65 – 68), awareness of all the aspects which surround the company when coming the new environment, should be prepared carefully and ready before its articulation into a new market. Both the overview about macro factors and micro factors are considered through the most popular analysis in marketing strategy. PESTLE framework: Johnson et al. (2005, up 65 – 68) list 5 main groups of factors in PESTLE analysis in order to help companies understand in a detailed way about the unknown environment they take part in.

They include political and legal factors, environmental features, economical elements, technological influences and social and cultural factors. Companies cannot decide all of these factors, they have to learn how to adapt and benefit from these rules ND available standards from the new market. Five forces analysis: Jobber (2004, p. 679) has adopted the five forces analysis developed by Michael Porter and formed a view of barrier and competitive factors that companies need to meet and overcome in a new market situation Figure 4: Porters’ five forces After jobber (2004, p. 79) In this analysis, Jobber (2004, p. 679) considers the market based on five elements: New entrants: A lot of barriers for a company to enter a new market as political, economical, geographical, social, technological, ethical and so on. Suppliers: When there are only some big suppliers and the number of customers (buyers) is huge, that means suppliers usually have certain advantage in negotiation process and can decide what the negotiation leads to.

Having a long-term relationship helps company and sellers easily understand, give the sympathy and benefit each other. Customer loyalty Strong relationship between companies and customers take back loyal customers which can be as a great advantage by Henning-Thru and Hansen (2000, up. 21-33). If the customers are satisfied with the products, they will recommend it to their family, friends or whoever they know. 2. 2. 2. 2 Internal analysis Johnson et al. (2005, up. 1 17-1 19) divides available resources of companies into two groups: tangible and intangible.

Tangible resources is the physical asset as buildings, labor, machines and so on, while intangible resources are non-physical, non-monetary and unidentifiable asset as information, reputation and customers’ belief. Resources also can be separated as hysterical, financial, human or intellectual capital. SOOT analysis According to Dwyer and Tanner (2006), through identification of two couples of strengths and weaknesses with chances and threats for each company or case, readers can understand the situation, design the marketing plan and find the solution in an easy way.

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