5033 – ASM2 | Product Development Strategy

5033 – ASM2
Organization: X is a fast-growing brand in fashion market both in Vietnam and
in global market. X can be one of the following brands: Zara Vietnam; H&M
Vietnam; Uniqlo Vietnam. Please choose one which you would like to task
with.
Context: This fiscal year, the BOD of X organisation has chosen product
development strategy for Vietnam domestic market. That is to say, X is aiming
at launching a new product in order to increase its share of domestic market and
strengthening its brand position among competitors.
Task: Your group are members of company X’s marketing department. You and
your team have been assigned to research the competition and produce a
marketing plan based on your findings, to drive forward the marketing
objectives for the organisation.
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OUTLINE
I. Introduction (P3)
 Introduction to the report: with the given scenario from the assignment
brief, you introduce the purpose of the report and main contents will be
touched in the report
 Introduction to your company
II. Briefing Paper: Comparison of Marketing Mix Strategy applied
by X and competitor.
Evaluate how the marketing mix (7Ps) has been applied to achieve
business objectives, relating to the 2 organisations: X organisation and
one of its main competitors.
 Describe the 7Ps strategy applied by organization X and one main
competitor (P3)
7Ps X orgnization 1 main competitor
Product
Price
Place
Promotion
Physical
Evidence
Process
Peope

 Identify and analyse which types of strategy/tactics are being applied:
apply what
you have learnt through theoretical lectures in analysing 7Ps strategy of
the two company and point out the pros and cons of these strategies (M3)
 Basing on the analysis of the 2 companies’ 7Ps strategy, you should draw
your own critical judgement. For example, are these tactics effective or
appropriate to the current Marketing context? What could have been done
better and how? Etc. Justify your critical thoughts with sufficient
evidences. (D2)
III. The Marketing Plan (P4, M4, D3)
1. Executive Summary
2. Situation Analysis
2.1. A market analysis that defines the market and major segments and then
reviews customer needs and factors in the marketing environment that may
affect customer purchasing (market trend). You and your team should conduct a
market research to gain insights about customers
 Overview of Vietnam fast-fashion market (size, growth, recent consumption/
production trends, etc.)
 Major segments of Vietnam fast-fashion market: describe characteristics (use
demographics, psychological, purchase behavior factors)
 Customer Insight: conduct market research (secondary and/or primary research)
to gain customer insight.
o Insightful marketing research with various quantitative and qualitative
evidences to get D3. In order to achieve this, students are encouraged to
execute both secondary and primary research (D3)
2.2. A review of competition
 Identify major competitors – who are they? (2-3 competitors)
 Assess their market positions – what are their current market shares? What are
their brand positions & competitive advantage?
 Positioning map: create a big picture of the Vietnam fashion market competition
(optional)
2.3. An external environment analysis: analyse at least 3 external environment
factors that have great impact on the fast-fashion industry and your X company.
2.4. SWOT analysis: Basing on the above analysis, create a SWOT analysis of X
company.
3. Objectives: Identify objectives for this marketing plan
 The objectives should be SMART (specific, measurable, achievable, realistic, and
time-bound)
 Marketing objectives should also be consistent with stategy business objectives
of firm X.
4. Marketing Strategy
4.1. Target Segment: Describe your target customers in details.

4.2. Positioning and Differentiation Strategy: what makes your product
different? Positioning statement
5. Marketing Mix strategy
5.1. Product: describe the product in detailed (3 layers of product), visualize the
product and its packaging
5.2. Pricing: give specific price & justify
5.3. Place: distribution channels
5.4. Promotion*: Develop a integrated multimedia plan which include: campaign
communication objectives; Source; key message and content; and
Channel/Media choices.
 Basic communication plan (P5): specific communication objectives, choice of
source, message, media mix
 Integrated multimedia plan (M5): specific communication objectives, choice of
appropriate source, message, media mix (both online & offline channels)
 Highly integrated multimedia plan (D4): specific communication objectives,
choice of appropriate source, creative message content, appropriate media mix
(both online & offline channels). Justify the choices with sufficient evidences.
5.5. People
5.6. Process
5.7. Physical Evidence
6. Action Plan & Budget
Create a table to spell out how marketing strategies will be turned into specific action
programs
No. Activities
(What will be
done?)
Deadline
(When will it be
done?)
Person in
charge
(Who will do it?)
Budget
(How much will it
cost?)
1
2
7. Controls and Monitoring
 Clearly state the control and measurement methods which will be used to
measure your marketing performance.
 Specific measurement metrics that are strongly linked to marketing objectives;
measurement methods and plan which specify clearly how and when those
metrics will be measured. (D3)
IV. Conclusion & Recommendation (P3)
REFERENCES

*Note:
 Relevant theory/concepts should be explained as the foundation for any
suggestions you make in the marketing plan.
 Details for P4, M4, D3:
o P4: Produce a basic marketing plan which includes all compulsory sections
stated in the assignment brief.
o M4: Produce a detailed and highly coherent marketing plan. The marketing
plan has a high level of integration. To be more specific, there should be a
logical connection and great harmonization among different elements of the
marketing mix 7Ps strategy. Tactical decisions for each “P” elements should
all contribute to marketing objectives, positioning strategy, and fit with the
target segment.
o D3: Produce a highly coherent and tactical marketing plan. At this level,
students are expected to deliver excellent work. A logical flow and strong
integration from the beginning to the end of the marketing plan. E.g.
marketing objectives, strategy, and 7Ps tactical decisions are appropriate
with the insights gained from marketing research sections; a strong link
between objectives and control/monitoring metrics and methods; etc.