Development of Marketing Plans and Strategies
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AI Summary
The provided assignment focuses on the development of marketing plans and strategies for an organization to reach its goals and success in business. It involves setting clear objectives, conducting situational analysis using tools like SWOT and PEST, creating appropriate marketing strategies, allocating resources effectively, and implementing monitoring and control measures. The importance of market research, customer understanding, and resource allocation are highlighted in making a marketing plan practicable.
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ASSIGNMENT FRONT SHEET <No.2> Retake
Qualification BTEC Level 4 HND Diploma in Business
Unit number and
title 486_Marketing Essentials
Assignment due Assignment submitted
Learner’s name Cao Ngoc Ngan Thuong Learner’s code GCS15440
Class GBS0604 Assessor name Nguyen Thi Thanh Nhan
Learner declaration:
I certify that the work submitted for this assignment is my own and research sources are fully
acknowledged.
Learner signature Date
Grading grid
P3 P4 M3 M4 D2
Qualification BTEC Level 4 HND Diploma in Business
Unit number and
title 486_Marketing Essentials
Assignment due Assignment submitted
Learner’s name Cao Ngoc Ngan Thuong Learner’s code GCS15440
Class GBS0604 Assessor name Nguyen Thi Thanh Nhan
Learner declaration:
I certify that the work submitted for this assignment is my own and research sources are fully
acknowledged.
Learner signature Date
Grading grid
P3 P4 M3 M4 D2
Secure Best Marks with AI Grader
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Assignment title Aspect of ethical philosophies and the impact of ethical issues on business
In this assignment, you will have opportunities to provide evidence against the following criteria.
Indicate the page numbers where the evidence can be found.
Assessment criteria Expected evidence Task
no.
Achieved (Stick
to mark as
achieve)
LO2 Compare ways in which organisations use elements of the marketing mix (7Ps) to achieve overall business objectives
Compare the ways in which different
organisations apply the marketing
mix to the marketing planning
process to achieve business
objectives.
- The 7Ps marketing mix:
Product, Price, Place,
Promotion, People, Physical
Evidence, Process
- The shift from the 4Ps to the
7Ps and marketing mix.
- An overview of the marketing
planning process (Analysis,
Planning, Implementation and
Control) and marketing
strategy.
P3
Achieved
Not
achieved
LO3 Develop and evaluate a basic marketing plan
In this assignment, you will have opportunities to provide evidence against the following criteria.
Indicate the page numbers where the evidence can be found.
Assessment criteria Expected evidence Task
no.
Achieved (Stick
to mark as
achieve)
LO2 Compare ways in which organisations use elements of the marketing mix (7Ps) to achieve overall business objectives
Compare the ways in which different
organisations apply the marketing
mix to the marketing planning
process to achieve business
objectives.
- The 7Ps marketing mix:
Product, Price, Place,
Promotion, People, Physical
Evidence, Process
- The shift from the 4Ps to the
7Ps and marketing mix.
- An overview of the marketing
planning process (Analysis,
Planning, Implementation and
Control) and marketing
strategy.
P3
Achieved
Not
achieved
LO3 Develop and evaluate a basic marketing plan
Produce and evaluate a basic
marketing plan for an organisation.
- Marketing planning:
importance, value of
marketing plans
- The links between marketing
plans, marketing objectives
and marketing strategies.
- Evaluate and monitor
marketing plan using
appropriate techniques (sales
analysis, market-share
analysis, efficiency ratios and
cost-profitability analysis).
- Structure and development of
marketing plans: setting
goals, analysis techniques,
creating marketing strategy,
allocate resources and
P4
Achieved
Not
achieved
Assessment
criteria
Expected Evidence Achieved (Stick to mark
as achieve)
M3 Evaluate different tactics applied by organisations to
demonstrate how business objectives can be achieved
Achieved
Not achieved
M4 Produce a detailed, coherent evidence-based marketing plan for
an organisation
Achieved
Not achieved
D2 Design a strategic marketing plan that tactically applies the use
of the 7Ps to achieve overall marketing objectives Achieved
Not achieved
Summative feedback:
Assessor’s
Signature
Nguyễn Thị Thanh Nhàn
Date
marketing plan for an organisation.
- Marketing planning:
importance, value of
marketing plans
- The links between marketing
plans, marketing objectives
and marketing strategies.
- Evaluate and monitor
marketing plan using
appropriate techniques (sales
analysis, market-share
analysis, efficiency ratios and
cost-profitability analysis).
- Structure and development of
marketing plans: setting
goals, analysis techniques,
creating marketing strategy,
allocate resources and
P4
Achieved
Not
achieved
Assessment
criteria
Expected Evidence Achieved (Stick to mark
as achieve)
M3 Evaluate different tactics applied by organisations to
demonstrate how business objectives can be achieved
Achieved
Not achieved
M4 Produce a detailed, coherent evidence-based marketing plan for
an organisation
Achieved
Not achieved
D2 Design a strategic marketing plan that tactically applies the use
of the 7Ps to achieve overall marketing objectives Achieved
Not achieved
Summative feedback:
Assessor’s
Signature
Nguyễn Thị Thanh Nhàn
Date
Secure Best Marks with AI Grader
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TASK 3.1:
Marketing mix is the tool for marketers to help determine a product
offering, simply means putting the right product with the right price in the
right place and time. Marketing 4Ps was created by E. Jerome McCarthy in
1960s and it is the foundation of the ideal of marketing mix. Marketing 7Ps
is the model modified from 4Ps. Marketing 7Ps included: Produce, Price,
Place, Promote, People, Processes, Physical Evidence.
1. Product:
The product can be intangible or tangible as it can be in the form of
services or goods. The product should appropriate to the market and it
must be the what the consumers expecting to get. There are three levels of
products and service: Core customer value, Actual product, Augmented
product.
- Core customer value: the fundamental need or want of customers, it is
what customers desire and believe they will have benefit from that product.
Example: with the high technological these day, customers required for a
cell phone not just simply a communicate device like it used to be. iPhone,
which from brand Apple, deliveries to customers a cell phone which could
communicating, playing game, using internet, taking picture and video, and
Marketing mix is the tool for marketers to help determine a product
offering, simply means putting the right product with the right price in the
right place and time. Marketing 4Ps was created by E. Jerome McCarthy in
1960s and it is the foundation of the ideal of marketing mix. Marketing 7Ps
is the model modified from 4Ps. Marketing 7Ps included: Produce, Price,
Place, Promote, People, Processes, Physical Evidence.
1. Product:
The product can be intangible or tangible as it can be in the form of
services or goods. The product should appropriate to the market and it
must be the what the consumers expecting to get. There are three levels of
products and service: Core customer value, Actual product, Augmented
product.
- Core customer value: the fundamental need or want of customers, it is
what customers desire and believe they will have benefit from that product.
Example: with the high technological these day, customers required for a
cell phone not just simply a communicate device like it used to be. iPhone,
which from brand Apple, deliveries to customers a cell phone which could
communicating, playing game, using internet, taking picture and video, and
some extra services with high security to protect customer’s information in
the cell phone.
- Actual product: is the actual product of how the core product is going to be.
Actual products are quantifiable in nature and have properties like brand
name, features, quality level, design, packaging.
Example: iPhone 5s
1. Brand name: Apple.
2. Features: calling, message, face time with HD quality, playing game,
using iOS 7 operating system, camera 8.0 megapixel, secure by Touch
ID fingerprint sensor, accelerometer, gyro, proximity, compass. Browser
uses HTML5 (Safari), Siri natural language commands and dictation,
iCloud cloud service, MP3/WAV/AAX+/AIFF/Apple Lossless player,
MP4/H.264 player, audio/video/photo editor, document editor.
3. Quality level: one of the most popular brand cell phone with high quality
and one of the most realizable brand.
4. Design: the phone is light and thin with a thickness of only 7.6 mm, the
length of the machine has increased by 8.6 mm compared to iPhone 5s.
The screen size is 4 inches. Machine is surrounded by shiny metallic
lines for the purpose of better machine protection and avoid the
occurrence of scratches during use.
the cell phone.
- Actual product: is the actual product of how the core product is going to be.
Actual products are quantifiable in nature and have properties like brand
name, features, quality level, design, packaging.
Example: iPhone 5s
1. Brand name: Apple.
2. Features: calling, message, face time with HD quality, playing game,
using iOS 7 operating system, camera 8.0 megapixel, secure by Touch
ID fingerprint sensor, accelerometer, gyro, proximity, compass. Browser
uses HTML5 (Safari), Siri natural language commands and dictation,
iCloud cloud service, MP3/WAV/AAX+/AIFF/Apple Lossless player,
MP4/H.264 player, audio/video/photo editor, document editor.
3. Quality level: one of the most popular brand cell phone with high quality
and one of the most realizable brand.
4. Design: the phone is light and thin with a thickness of only 7.6 mm, the
length of the machine has increased by 8.6 mm compared to iPhone 5s.
The screen size is 4 inches. Machine is surrounded by shiny metallic
lines for the purpose of better machine protection and avoid the
occurrence of scratches during use.
5. Packaging: The packaging for iPhone 5s is highly recyclable, its box is
made primarily from bio-based materials, including fiberboard
containing 90 percent post-consumer recycled content.
- Augmented product: adding more benefits to the customers. Augmentation
product is adding to the product’s offering outside of the product itself, it
could be the form of a warranty, after-sale service, product support,
instructions on how to use the device and so further.
Example: iPhone 5s
1. Delivery and credit: support delivery worldwide and pay by
credit/debit/visa/mastercard. Buy directly from the store and pay by
credit/debit/visa/mastercard or cash. Moreover, when buying directly at
the shop, customers are supported by installment payment.
2. After-sale service: a year warranty from Apple, iPhone service answer
center where troubleshooting about iPhone service options, warranty,
and pricing.
3. Warranty: one-year warranty worldwide, replace iPhone for malfunction
and technical fault or repair only the machine depending on the level of
failure and error and will be determined by Apple or authorized
representatives of Apple from the Apps Store or distributor decision.
Product definition: product could be a service or item which for sale. Every
product has a cost and is sold with a price. In marketing, the product must
be closely meet the requirements of the target market and capable to
make profit.
Product classifications: is divided products according to its specific
characteristics so that they form a structured portfolio. Classifying product
help marketers decide the strategies and promote to help organization’s
product. There are many types of classification depend on each
organization. Below is the information of classification product based on
consumer products.
Consumer products: is the product bought by final consumers for
personal consumption. Consumer products classifies on the base of
the manner of purchase & manner of marketing:
+ Convenience Products: is the items which do not require
customer’s effort or forethought, those products are bought immediately and
frequently. Example: tooth brush, soap, cooking oil, newspapers.
+ Shopping products: is bought less frequently and customers spend time and
effort buying shopping products. Customers usually compare price, quality,
safety information and style before making a final decision. The most effective
made primarily from bio-based materials, including fiberboard
containing 90 percent post-consumer recycled content.
- Augmented product: adding more benefits to the customers. Augmentation
product is adding to the product’s offering outside of the product itself, it
could be the form of a warranty, after-sale service, product support,
instructions on how to use the device and so further.
Example: iPhone 5s
1. Delivery and credit: support delivery worldwide and pay by
credit/debit/visa/mastercard. Buy directly from the store and pay by
credit/debit/visa/mastercard or cash. Moreover, when buying directly at
the shop, customers are supported by installment payment.
2. After-sale service: a year warranty from Apple, iPhone service answer
center where troubleshooting about iPhone service options, warranty,
and pricing.
3. Warranty: one-year warranty worldwide, replace iPhone for malfunction
and technical fault or repair only the machine depending on the level of
failure and error and will be determined by Apple or authorized
representatives of Apple from the Apps Store or distributor decision.
Product definition: product could be a service or item which for sale. Every
product has a cost and is sold with a price. In marketing, the product must
be closely meet the requirements of the target market and capable to
make profit.
Product classifications: is divided products according to its specific
characteristics so that they form a structured portfolio. Classifying product
help marketers decide the strategies and promote to help organization’s
product. There are many types of classification depend on each
organization. Below is the information of classification product based on
consumer products.
Consumer products: is the product bought by final consumers for
personal consumption. Consumer products classifies on the base of
the manner of purchase & manner of marketing:
+ Convenience Products: is the items which do not require
customer’s effort or forethought, those products are bought immediately and
frequently. Example: tooth brush, soap, cooking oil, newspapers.
+ Shopping products: is bought less frequently and customers spend time and
effort buying shopping products. Customers usually compare price, quality,
safety information and style before making a final decision. The most effective
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marketing strategies are using advertises and promotion according to the book
“Principles of Marketing,” by Ashok Jain. Example: Clothing, furniture, services.
+ Specialty Products: requires significant thought. It is the product with brand
identification or unique characteristics, and the most important thing is a group
of customers are willing to buy those products. Specialty products usually
expensive, durable, often involving authorized dealerships and personal selling.
Example: luxury brand car, clothes.
+ Unsought Products: is the product which customers are not aware or do not
have intention to buy. Example: life insurance, blood donation to Red Cross.
Product line: is a series of different product made by the same company.
Example: Apple product line
Definition Service: is intangible product such as medical treatment, insurance,
education. It cannot be stored or transported, are instantly perishable, its existence
right the moment when it is bought and consumed.
Characteristic Service: there are several characteristic of service depended on a
product, but there are four typical characteristic of services which are Perishability,
Heterogeneity, Intangibility and ownership.
+ Perishability: this characteristic is services which intangible. It is highly perishable
and time factor has a great significance in marketing services. It cannot be stored
so if it will be wasted if organization stop working.
+ Heterogeneity: the quality of service cannot be standardized. Service can have
different price such as a doctor can charge higher price for rich people and lower
for poor.
“Principles of Marketing,” by Ashok Jain. Example: Clothing, furniture, services.
+ Specialty Products: requires significant thought. It is the product with brand
identification or unique characteristics, and the most important thing is a group
of customers are willing to buy those products. Specialty products usually
expensive, durable, often involving authorized dealerships and personal selling.
Example: luxury brand car, clothes.
+ Unsought Products: is the product which customers are not aware or do not
have intention to buy. Example: life insurance, blood donation to Red Cross.
Product line: is a series of different product made by the same company.
Example: Apple product line
Definition Service: is intangible product such as medical treatment, insurance,
education. It cannot be stored or transported, are instantly perishable, its existence
right the moment when it is bought and consumed.
Characteristic Service: there are several characteristic of service depended on a
product, but there are four typical characteristic of services which are Perishability,
Heterogeneity, Intangibility and ownership.
+ Perishability: this characteristic is services which intangible. It is highly perishable
and time factor has a great significance in marketing services. It cannot be stored
so if it will be wasted if organization stop working.
+ Heterogeneity: the quality of service cannot be standardized. Service can have
different price such as a doctor can charge higher price for rich people and lower
for poor.
+ Intangibility: services are intangible which cannot be touched. The customers can
not touch, smell and taste the product. The concentrate is to satisfy and benefit
consumers.
+ Ownership: In the transact of goods, through some process the buyer becomes
the owner of the goods. This case is not applicated for service.
2. Price:
Basically it is the amount which customers pay to enjoy or own the product. It
determines organization’s profit and survival so it is important in marketing mix as
same as marketing plan. Setting the right price for the products or services helps
organization maximize profits and maintaining a good relationship with customers.
- List price: Manufacturer's, distributor's, or retailer's quoted, published, or displayed
price on which quantity, seasonal, or other discounts are computed. Also called
manufacturer's suggested retail price (MSRP). (Businessdictionary, n.d.).
- Positioning: to position your rates or prices more appropriately to the market and
competitors’ rates and products, considering to use these strategies:
1. Skim: this strategy is telling to the customers that the organization is special, it
above the rest, setting higher price than competitors does in order to “skim off”
customers who are willing to pay more. High price give more high quality to
customers, but the important thing that they understand why they willing oay
higher price for the products.
2. Match: this strategy is to put the organization’s product price on par with the
competitors. This allows organization to remain competitive for a larger group
of customers, but does not reduce the competition.
3. Surround: this strategy positions the organization’s products as the cheapest in
the market, offering customers a better option with the price close to
competitors’ first available rates.
4. Undercut: undercutting in some categories compared to competitors to attract
more customers. This strategy is offer a price that can comparable to
competitors but with one or more categories lower.
5. Penetrate: this strategy mostly encouraging customers to try new products or
services, it is put a lower priced option in the market.
- Payment methods: Customers have various methods to pay the products or services.
In developed countries the most common method is use credit card, debit card or
mastercard, while in developing countries cash still the most common method. Other
than that there are still have some extra method for customers to choose such as
installment, through internet like paypal.
- Price Strategies: is a way to determine the price for the products or service which help
organization maximize the profits. The pricing is extremely complex and intense, the
managers have to consider everything pricing a product, ensure the price includes
cost of production and bring back profit while in line with affordability of target
not touch, smell and taste the product. The concentrate is to satisfy and benefit
consumers.
+ Ownership: In the transact of goods, through some process the buyer becomes
the owner of the goods. This case is not applicated for service.
2. Price:
Basically it is the amount which customers pay to enjoy or own the product. It
determines organization’s profit and survival so it is important in marketing mix as
same as marketing plan. Setting the right price for the products or services helps
organization maximize profits and maintaining a good relationship with customers.
- List price: Manufacturer's, distributor's, or retailer's quoted, published, or displayed
price on which quantity, seasonal, or other discounts are computed. Also called
manufacturer's suggested retail price (MSRP). (Businessdictionary, n.d.).
- Positioning: to position your rates or prices more appropriately to the market and
competitors’ rates and products, considering to use these strategies:
1. Skim: this strategy is telling to the customers that the organization is special, it
above the rest, setting higher price than competitors does in order to “skim off”
customers who are willing to pay more. High price give more high quality to
customers, but the important thing that they understand why they willing oay
higher price for the products.
2. Match: this strategy is to put the organization’s product price on par with the
competitors. This allows organization to remain competitive for a larger group
of customers, but does not reduce the competition.
3. Surround: this strategy positions the organization’s products as the cheapest in
the market, offering customers a better option with the price close to
competitors’ first available rates.
4. Undercut: undercutting in some categories compared to competitors to attract
more customers. This strategy is offer a price that can comparable to
competitors but with one or more categories lower.
5. Penetrate: this strategy mostly encouraging customers to try new products or
services, it is put a lower priced option in the market.
- Payment methods: Customers have various methods to pay the products or services.
In developed countries the most common method is use credit card, debit card or
mastercard, while in developing countries cash still the most common method. Other
than that there are still have some extra method for customers to choose such as
installment, through internet like paypal.
- Price Strategies: is a way to determine the price for the products or service which help
organization maximize the profits. The pricing is extremely complex and intense, the
managers have to consider everything pricing a product, ensure the price includes
cost of production and bring back profit while in line with affordability of target
customers. There are various price strategies based on the products or services,
target market and customers of the organization, and there are four main strategies:
1. New product pricing strategy: new products always have difficult when enter
the market, and they can use one of these strategy:
+ Price Skimming: is a strategy that setting the high price for new products
when the market has few competitors. This one helps organization to maximize
their profits before competitors enter the market then the price has to be lower.
This is popular for technology industry.
+ Penetration Pricing: is using to gain market share by offering a lower price
than their competitors. This strategy is usually used when marketers get their
product into market and want to encourage customers try their products. This
strategy might get losses for the organizations at first, but after achieving a
stronger market penetration, the prices will be raised to get more profitable
level. C2 used to use this strategy, they sale their product with only 3,500 dong
while at that time O degree price is 7,000 dong.
2. Product mix pricing strategy:
+ Product line pricing: For a product line, the manufacturer will assign different
prices corresponding to the value and cost of production of each product.
These prices will show different levels of value, quality in the mind of the
customer. Example for iphone, each product line has the different price.
+ Optional product pricing: lots of product have their optional product, which is
order and made according to the requirements of the customer with the
advisory support from organization. Car industry usually have this strategy,
they provide the GPS speakers, led lights, electronic door controls, etc., due to
customer demand.
+ Captive products pricing: there is some complementary products must be
used with the main product. Normally, the price of the main product will be set
at a low price, but the price of complementary products is set at a high price,
profit will be focused mainly on auxiliary products. Example for camera, the
body does not cost so much, but the lens and genuine accessories are sold at
high price.
+ By-products pricing: by-products are products got during the process of
producing main products. Example in metallurgy is slag cement, slag concrete,
etc. In some case by-products also brings high profit to the business.
+ Bundle Pricing: organization sells a bundle of product with a reduce price
compared when they being sell separate. This strategy common in food
industry such as you buy your portion as a combo, it is also effective to move
unsold items but taking up the space. Bundle gives customers a mindset that
they have more benefit and their get a very attractive value for their money.
Food industry uses this strategy the most, example for KFC, they encourage
customers to buy their combo instead of separate.
target market and customers of the organization, and there are four main strategies:
1. New product pricing strategy: new products always have difficult when enter
the market, and they can use one of these strategy:
+ Price Skimming: is a strategy that setting the high price for new products
when the market has few competitors. This one helps organization to maximize
their profits before competitors enter the market then the price has to be lower.
This is popular for technology industry.
+ Penetration Pricing: is using to gain market share by offering a lower price
than their competitors. This strategy is usually used when marketers get their
product into market and want to encourage customers try their products. This
strategy might get losses for the organizations at first, but after achieving a
stronger market penetration, the prices will be raised to get more profitable
level. C2 used to use this strategy, they sale their product with only 3,500 dong
while at that time O degree price is 7,000 dong.
2. Product mix pricing strategy:
+ Product line pricing: For a product line, the manufacturer will assign different
prices corresponding to the value and cost of production of each product.
These prices will show different levels of value, quality in the mind of the
customer. Example for iphone, each product line has the different price.
+ Optional product pricing: lots of product have their optional product, which is
order and made according to the requirements of the customer with the
advisory support from organization. Car industry usually have this strategy,
they provide the GPS speakers, led lights, electronic door controls, etc., due to
customer demand.
+ Captive products pricing: there is some complementary products must be
used with the main product. Normally, the price of the main product will be set
at a low price, but the price of complementary products is set at a high price,
profit will be focused mainly on auxiliary products. Example for camera, the
body does not cost so much, but the lens and genuine accessories are sold at
high price.
+ By-products pricing: by-products are products got during the process of
producing main products. Example in metallurgy is slag cement, slag concrete,
etc. In some case by-products also brings high profit to the business.
+ Bundle Pricing: organization sells a bundle of product with a reduce price
compared when they being sell separate. This strategy common in food
industry such as you buy your portion as a combo, it is also effective to move
unsold items but taking up the space. Bundle gives customers a mindset that
they have more benefit and their get a very attractive value for their money.
Food industry uses this strategy the most, example for KFC, they encourage
customers to buy their combo instead of separate.
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3. Price adjustment strategy: when there is changing about the conditions,
environmental or customer-related factors, organization has to change their
product’s price.
+ Discounted and allowance pricing:
Discounts: discounted the product within the specific days, discount for
customers when they buy more than one product which depended on the
company. This strategy is usually use before holiday, example for beauty
product, they discount for customers within a week before Tet.
Allowance: allowance a product when customers register for service which the
organization suggest.
+ Segmented pricing: more than one price level depended on customers,
location, time, etc.,
Pricing by customer: Each customer will have a different price for the same
product or service. Example for CGV, students will be paid lower price than
adult.
Pricing by location: There are different prices for different locations. Due to
delivering cost, clothes at the same chain stores will have different price.
Time-based pricing: Prices are determined differently for the same product at
different times of the year, month, day. Example for Adidas shoes when the
product is “hot” the price will be higher, and for a while it will be reduced.
+ Psychological pricing: is when marketers encourage customers buy the
product base on emotion rather than common-sense logic. The most common
is when organization prices the product at $99 instead of $100, even the price
not have so much change but consumers perceive $99 as being substantially
cheaper. This is known as the "left-digit effect.".
+ Reference prices: is the price which customers carry in their minds and refer
to when looking at a given product. Example for a clothes store, they shirt is
200,000 dong, but after a few weeks they offer a 30-50% discount, customer
think they are having a good deal because they have discount in the reference
price.
+ Promotional pricing: in some case, organization will temporarily lower their
product prices than listed prices and sometimes even lower than listed prices
in a short time to encourage consumption in the short term. Example: a store
offers “buy 1 get 1” for their product.
+ Geography pricing: with the customers in different regions in the country, the
organization will price a different price for the same product. Example for
Chanel, they are selling their bag in Korea with the higher price than in U.S
due to the transport cost.
+ Uniformed-delivered pricing: the organization charges the same price plus
freight to all customers, regardless of location. For example, if you buy a pair of
environmental or customer-related factors, organization has to change their
product’s price.
+ Discounted and allowance pricing:
Discounts: discounted the product within the specific days, discount for
customers when they buy more than one product which depended on the
company. This strategy is usually use before holiday, example for beauty
product, they discount for customers within a week before Tet.
Allowance: allowance a product when customers register for service which the
organization suggest.
+ Segmented pricing: more than one price level depended on customers,
location, time, etc.,
Pricing by customer: Each customer will have a different price for the same
product or service. Example for CGV, students will be paid lower price than
adult.
Pricing by location: There are different prices for different locations. Due to
delivering cost, clothes at the same chain stores will have different price.
Time-based pricing: Prices are determined differently for the same product at
different times of the year, month, day. Example for Adidas shoes when the
product is “hot” the price will be higher, and for a while it will be reduced.
+ Psychological pricing: is when marketers encourage customers buy the
product base on emotion rather than common-sense logic. The most common
is when organization prices the product at $99 instead of $100, even the price
not have so much change but consumers perceive $99 as being substantially
cheaper. This is known as the "left-digit effect.".
+ Reference prices: is the price which customers carry in their minds and refer
to when looking at a given product. Example for a clothes store, they shirt is
200,000 dong, but after a few weeks they offer a 30-50% discount, customer
think they are having a good deal because they have discount in the reference
price.
+ Promotional pricing: in some case, organization will temporarily lower their
product prices than listed prices and sometimes even lower than listed prices
in a short time to encourage consumption in the short term. Example: a store
offers “buy 1 get 1” for their product.
+ Geography pricing: with the customers in different regions in the country, the
organization will price a different price for the same product. Example for
Chanel, they are selling their bag in Korea with the higher price than in U.S
due to the transport cost.
+ Uniformed-delivered pricing: the organization charges the same price plus
freight to all customers, regardless of location. For example, if you buy a pair of
shoes and it is delivered to your house then irrespective of which sector you’re
in, you will be charged the same delivered price.
+ Zone pricing: the organization sets up two or more zones where customers
within a given zone pay a single total price.
+ Freight-absorption pricing: the seller absorbs all or part of the actual freight
charge as an incentive to attract business in competitive markets
+ Dynamic pricing: when prices are adjusted continually to meet the
characteristics and needs of the individual customer and situations.
+ International products pricing: the same product will have different price for
different country shipping costs, marketing costs, the economic situation of that
country, competitive status internal and abroad, law, etc. For example,
Starbucks may operate at a loss in some locations but still need a local
presence in order to maintain their economies of scale, as well as their
reputation as a global player, so they price at some country may lower than
others.
4. Price change: Actively change the price: Increasing or decreasing, must take
into the possible response of competitors and customers.
Increase due to cost inflation, increased demand, lack of supply.
Decrease due to excess capacity, increased market share.
Buyer reactions to pricing changes: Customers do not always understand the
price change.
+ Increase: when a product increase, customer think either is a popular
product or it is the greed from the organization.
+ Decrease: a discount can also encourage customers to buy or cause a
suspect, such as the quality is lower or the product is not selling well. In some
case they think that the sight for a new product is coming out.
Competitors reaction to price changes: they will wonder why the organization
change the price, will it permanent or temporary, will it effect on market share
and profits. And to handle all this question, competitor may either change their
price to match the organization, or maintain price but raise the awareness
through communications, or improve their product and increase the price.
3. Place:
This is the very important part which organizations have to put their products or
services in the right position and distribute them in a place that is accessible to
potential customers. Take an example like restaurants, stores, medical offices and
similar establishments need to be in the right location to attract the right customers.
Many companies use distribution networks and/or a sales force, so for them the world
wide web has become their “place”.
Distribution channels is the stage that move product from production to market. It
could have various levels, each party called “intermediary”. Distribution channels
in, you will be charged the same delivered price.
+ Zone pricing: the organization sets up two or more zones where customers
within a given zone pay a single total price.
+ Freight-absorption pricing: the seller absorbs all or part of the actual freight
charge as an incentive to attract business in competitive markets
+ Dynamic pricing: when prices are adjusted continually to meet the
characteristics and needs of the individual customer and situations.
+ International products pricing: the same product will have different price for
different country shipping costs, marketing costs, the economic situation of that
country, competitive status internal and abroad, law, etc. For example,
Starbucks may operate at a loss in some locations but still need a local
presence in order to maintain their economies of scale, as well as their
reputation as a global player, so they price at some country may lower than
others.
4. Price change: Actively change the price: Increasing or decreasing, must take
into the possible response of competitors and customers.
Increase due to cost inflation, increased demand, lack of supply.
Decrease due to excess capacity, increased market share.
Buyer reactions to pricing changes: Customers do not always understand the
price change.
+ Increase: when a product increase, customer think either is a popular
product or it is the greed from the organization.
+ Decrease: a discount can also encourage customers to buy or cause a
suspect, such as the quality is lower or the product is not selling well. In some
case they think that the sight for a new product is coming out.
Competitors reaction to price changes: they will wonder why the organization
change the price, will it permanent or temporary, will it effect on market share
and profits. And to handle all this question, competitor may either change their
price to match the organization, or maintain price but raise the awareness
through communications, or improve their product and increase the price.
3. Place:
This is the very important part which organizations have to put their products or
services in the right position and distribute them in a place that is accessible to
potential customers. Take an example like restaurants, stores, medical offices and
similar establishments need to be in the right location to attract the right customers.
Many companies use distribution networks and/or a sales force, so for them the world
wide web has become their “place”.
Distribution channels is the stage that move product from production to market. It
could have various levels, each party called “intermediary”. Distribution channels
provide a link between production and consumption, help gather information, capable
to find and communicate to prospective customers.
Distribution channels play a crucial role of bringing the products to customers. There
are four main type of distribution channels: direct, indirect, dual distribution, reverse
channels.
- Direct:
The product is directly provided to consumers from manufacturer. In this channels
organization must own elements of its distribution channel or sell through a specific
retail location. Selling through internet is also considering as directly sales.
- Indirect:
The organization sales their product through “intermediary”. This might raise the
product cost because each intermediary will sale product with higher price in other to
gain profit.
Retailer: is the one deals directly with the customers, such as convenience
store, department store, independents.
Wholesalers: who buy a large amount of product from producers and sell it for
retailers. Buying large amount help the reduce the transport cost and they can buy it
with lower price from the producers and sell it with higher price to retailers.
to find and communicate to prospective customers.
Distribution channels play a crucial role of bringing the products to customers. There
are four main type of distribution channels: direct, indirect, dual distribution, reverse
channels.
- Direct:
The product is directly provided to consumers from manufacturer. In this channels
organization must own elements of its distribution channel or sell through a specific
retail location. Selling through internet is also considering as directly sales.
- Indirect:
The organization sales their product through “intermediary”. This might raise the
product cost because each intermediary will sale product with higher price in other to
gain profit.
Retailer: is the one deals directly with the customers, such as convenience
store, department store, independents.
Wholesalers: who buy a large amount of product from producers and sell it for
retailers. Buying large amount help the reduce the transport cost and they can buy it
with lower price from the producers and sell it with higher price to retailers.
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- Dual Distribution: it is the combined of direct and indirect selling. It might be sold
directly to a consumer or through intermediary. This helps organization reach more
customers but also makes a channels conflict.
- Reverse Channels: this is the most non tradition channel which allows the consumer
to send a product to the producer. An example of this is when a consumer recycles
and makes money from this activity.
Organizations may need to use different strategies for different types of products.
There are three main types strategies:
- Intensive Distribution: is used commonly to distribute low priced products or impulse
purchases. The products stocked with a large amount such as snack, chocolate, soft
drinks, necessities.
- Exclusive Distribution: A higher priced item may be limiting distribution to a single
outlet, such as cars.
- Selective Distribution: A small number of retail outlets are chosen to distribute the
product. Selective distribution is common with products such as computers, televisions
household appliances, it might costly but needs to have widely available for
consumers who willing to shop around.
Segmented channel: just like customers is segmented and addressed base on their
specific needs and requirements, distribution channel can also be segmented. There
are some benefits which organization may achieve through channel segmentation:
+ Product Management: provided the product to the right channel which help reduce
cost of irrelevant stock as well as unnecessary logistical arrangements.
+ Price Management: different price at different location.
+ Promotion Management: promotion actives might more clear and consistent
marketing messages.
+ Efficiency in Operations: wasted time and resource can be removed.
Transportation means carrying goods and persons from one place to another. In
other words, it is concerned with carrying the goods from producer or manufacturer to
consumption. The transportation moving raw material and other components from
suppliers to manufacturers and warehouses, from manufacturers and warehouse to
other places. The wholesalers transport products to retailers. Retailers transport
products to final consumers.
There are various modes of transportation in the country like rail, water, road, air.
+ Rail: is usually use to transport heavy, lumber, coal, agriculture products over long
distance.
directly to a consumer or through intermediary. This helps organization reach more
customers but also makes a channels conflict.
- Reverse Channels: this is the most non tradition channel which allows the consumer
to send a product to the producer. An example of this is when a consumer recycles
and makes money from this activity.
Organizations may need to use different strategies for different types of products.
There are three main types strategies:
- Intensive Distribution: is used commonly to distribute low priced products or impulse
purchases. The products stocked with a large amount such as snack, chocolate, soft
drinks, necessities.
- Exclusive Distribution: A higher priced item may be limiting distribution to a single
outlet, such as cars.
- Selective Distribution: A small number of retail outlets are chosen to distribute the
product. Selective distribution is common with products such as computers, televisions
household appliances, it might costly but needs to have widely available for
consumers who willing to shop around.
Segmented channel: just like customers is segmented and addressed base on their
specific needs and requirements, distribution channel can also be segmented. There
are some benefits which organization may achieve through channel segmentation:
+ Product Management: provided the product to the right channel which help reduce
cost of irrelevant stock as well as unnecessary logistical arrangements.
+ Price Management: different price at different location.
+ Promotion Management: promotion actives might more clear and consistent
marketing messages.
+ Efficiency in Operations: wasted time and resource can be removed.
Transportation means carrying goods and persons from one place to another. In
other words, it is concerned with carrying the goods from producer or manufacturer to
consumption. The transportation moving raw material and other components from
suppliers to manufacturers and warehouses, from manufacturers and warehouse to
other places. The wholesalers transport products to retailers. Retailers transport
products to final consumers.
There are various modes of transportation in the country like rail, water, road, air.
+ Rail: is usually use to transport heavy, lumber, coal, agriculture products over long
distance.
+ Water: even it the second most common transport mode because it is cheap and
can carrying large amount of products but it is slow and unreliable due to it depends
on weather.
+ Road: transport by road is fast and dependable but they are limited in size, it is only
appropriate for retailer transport products to consumer.
+ Air: this is the most expensive of all and only used where speed is a priority.
Inventory: Organization must be on hand of different sizes, colors, models, and
varieties to make immediate shipment upon the receipt of orders. The inventory
requirements depend on economic conditions, weather conditions, new or improved
products and amount of advertising and sales-promotion. Mostly depends on the
policy followed by each organization. Its benefit is the costs of productions are
reduced, advertising and lower warehousing costs, avoiding seasonal fluctuations and
increasing sale volumes and profits.
4. Promotion:
Promotion includes all the activities communicating with customers. This increase
awareness about the products to customers. There are many organizations try to
increase in sales, acceptance of products through promotion. Through promotion,
organization capable to attract customer’s attention and give them information about
the product, much enough for them to get interested and motivate to purchase.
Promotion mix is the tool which aim to reach customers aware about the product and
brand, convince them to actually buy the product over others and continue to buy it.
There are five elements that make up promotional mix and below is information of
four:
- Direct marketing: is a form of advertising where potential customers are
communicated through telemarketing, customized letters, emails and text messages.
Types of direct marketing materials include catalogs, mailers and fliers.
- Sales Promotions: is a short term strategy to encourage a surge in sales. It included
‘buy one get one free’ options, seasonal discounts, contests, samples or special
coupons with expiration dates. There are many methods of sales promotion, including:
+ Money off coupons: customers receive coupon after buy a product or have a coupon
from a newspaper.
+ Competitions: customers will have a chance to winning a prize if they buy a product.
+ Discount vouchers: same as money off coupons.
+ Free gifts: a gift when you buy a product.
+ Point of sale materials: such as poster, display stands.
+ Loyalty cards: customers earn buy every time they buy a product, it can be
exchanged into money, goods or other offers.
can carrying large amount of products but it is slow and unreliable due to it depends
on weather.
+ Road: transport by road is fast and dependable but they are limited in size, it is only
appropriate for retailer transport products to consumer.
+ Air: this is the most expensive of all and only used where speed is a priority.
Inventory: Organization must be on hand of different sizes, colors, models, and
varieties to make immediate shipment upon the receipt of orders. The inventory
requirements depend on economic conditions, weather conditions, new or improved
products and amount of advertising and sales-promotion. Mostly depends on the
policy followed by each organization. Its benefit is the costs of productions are
reduced, advertising and lower warehousing costs, avoiding seasonal fluctuations and
increasing sale volumes and profits.
4. Promotion:
Promotion includes all the activities communicating with customers. This increase
awareness about the products to customers. There are many organizations try to
increase in sales, acceptance of products through promotion. Through promotion,
organization capable to attract customer’s attention and give them information about
the product, much enough for them to get interested and motivate to purchase.
Promotion mix is the tool which aim to reach customers aware about the product and
brand, convince them to actually buy the product over others and continue to buy it.
There are five elements that make up promotional mix and below is information of
four:
- Direct marketing: is a form of advertising where potential customers are
communicated through telemarketing, customized letters, emails and text messages.
Types of direct marketing materials include catalogs, mailers and fliers.
- Sales Promotions: is a short term strategy to encourage a surge in sales. It included
‘buy one get one free’ options, seasonal discounts, contests, samples or special
coupons with expiration dates. There are many methods of sales promotion, including:
+ Money off coupons: customers receive coupon after buy a product or have a coupon
from a newspaper.
+ Competitions: customers will have a chance to winning a prize if they buy a product.
+ Discount vouchers: same as money off coupons.
+ Free gifts: a gift when you buy a product.
+ Point of sale materials: such as poster, display stands.
+ Loyalty cards: customers earn buy every time they buy a product, it can be
exchanged into money, goods or other offers.
- Personal Selling: is directly selling with the customers. It can be either through
phone, email, chat or person. This aims to create a personal relationship between the
customers and organization.
- PR: as for Public Relations & Sponsorship, they try to increase positive mention of the
product or brand in influential media outlets. Including newspapers, magazines, talk
shows and new media such as social networks and blogs. This type of advertising
may not be paid. For example, organization send a blogger their products and depend
on their discretion and opinion about the product.
Each organization has different type to promote their product, it can be broadly
categorized as push and pull strategies.
- Push strategy: this is the stage which manufacturer taking the product to wholesalers
and retailers. The product might be sold in organization’s showrooms or at tradeshow.
This stage less need of creating advertising buzz but mostly focus on personal selling,
make sure that the product available at showroom and retail outlets.
- Pull strategy: this is like taking the consumers come to you through promotion,
advertising, pull strategy is opposite to push strategy. Organization try to attract
consumer’s interest through mass media promoting. Pull strategy focus on long term
brand loyalty. For customers seek the product by their own, there are need to have a
lot of media hype and mass campaigns.
The important of advertising tools in the B2C market compared to B2B
The most different thing between these two is customer. BC2 customers are family,
individual, family, they sale the products to consumers, they mostly buy the small
quantity. B2B customer is other businesses, who buy a large amount of products.
- Advertising strategies: B2C advertising is promoting the product to many different
people with the objective to attract customer and awareness about the product. While
phone, email, chat or person. This aims to create a personal relationship between the
customers and organization.
- PR: as for Public Relations & Sponsorship, they try to increase positive mention of the
product or brand in influential media outlets. Including newspapers, magazines, talk
shows and new media such as social networks and blogs. This type of advertising
may not be paid. For example, organization send a blogger their products and depend
on their discretion and opinion about the product.
Each organization has different type to promote their product, it can be broadly
categorized as push and pull strategies.
- Push strategy: this is the stage which manufacturer taking the product to wholesalers
and retailers. The product might be sold in organization’s showrooms or at tradeshow.
This stage less need of creating advertising buzz but mostly focus on personal selling,
make sure that the product available at showroom and retail outlets.
- Pull strategy: this is like taking the consumers come to you through promotion,
advertising, pull strategy is opposite to push strategy. Organization try to attract
consumer’s interest through mass media promoting. Pull strategy focus on long term
brand loyalty. For customers seek the product by their own, there are need to have a
lot of media hype and mass campaigns.
The important of advertising tools in the B2C market compared to B2B
The most different thing between these two is customer. BC2 customers are family,
individual, family, they sale the products to consumers, they mostly buy the small
quantity. B2B customer is other businesses, who buy a large amount of products.
- Advertising strategies: B2C advertising is promoting the product to many different
people with the objective to attract customer and awareness about the product. While
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B2B advertising is only between business. B2B needs to have good strategies, plan,
explain detail about the product to business. Answer the question given from business
and give the best solution for both sides.
- Promotion: B2B and B2c have the similar strategy of promotion, the goal is to increase
the purchase of product.
- PR: this strategy is not popular because it takes a lot of time, and more about
branding and creating image for organization. It is more suitable for long term
business.
The 7Ps model is the modify from 4Ps model, which except for Product, Price, Place,
Promotion the 7Ps it has two more (People and Physical evidence). In the context of
products, markets, customers and demand change rapidly, 4Ps is now not enough for
a business, that is why marketer have to develop their strategy and modify 4Ps into
7Ps. Our knowledge about people psychologic still limit, but many behavior rules was
recorded under statistical analysis.
5. People:
One of the most important resource of organization is employee. Every organization
want to recruit talent people who excellent in their job, and this strategy is performed
mostly by human resource department.
- Recruitment: human resource department recruit employee which afford organization
requirements. They try to attract talent people by giving out the benefit which company
can afford, included the position and salary appropriate to people possibilities.
Department mostly do research through internet.
- Training skill: After recruited new employees, human resource department have the
responsibility to train them. Training them the skill which need for the job, giving them
advices and experiences. This is the process which helps new employees to grow and
develop.
- Culture and image: each country have their own culture and nation image, even as
the same country in different region there is still have different culture and religion.
Marketer needs to research the target market culture and their image in order to bring
the appropriate product or service to customer. Through research, when the product
or services are announced to the market, the customers will purchase and bring back
profit to the organization.
- Remuneration: is also performed by human resource department. This is the stage
which organization paid for employees. Including basic salary, overtime, remunerate.
Depending on the position and work, each employee may have different
remuneration.
6. Process:
explain detail about the product to business. Answer the question given from business
and give the best solution for both sides.
- Promotion: B2B and B2c have the similar strategy of promotion, the goal is to increase
the purchase of product.
- PR: this strategy is not popular because it takes a lot of time, and more about
branding and creating image for organization. It is more suitable for long term
business.
The 7Ps model is the modify from 4Ps model, which except for Product, Price, Place,
Promotion the 7Ps it has two more (People and Physical evidence). In the context of
products, markets, customers and demand change rapidly, 4Ps is now not enough for
a business, that is why marketer have to develop their strategy and modify 4Ps into
7Ps. Our knowledge about people psychologic still limit, but many behavior rules was
recorded under statistical analysis.
5. People:
One of the most important resource of organization is employee. Every organization
want to recruit talent people who excellent in their job, and this strategy is performed
mostly by human resource department.
- Recruitment: human resource department recruit employee which afford organization
requirements. They try to attract talent people by giving out the benefit which company
can afford, included the position and salary appropriate to people possibilities.
Department mostly do research through internet.
- Training skill: After recruited new employees, human resource department have the
responsibility to train them. Training them the skill which need for the job, giving them
advices and experiences. This is the process which helps new employees to grow and
develop.
- Culture and image: each country have their own culture and nation image, even as
the same country in different region there is still have different culture and religion.
Marketer needs to research the target market culture and their image in order to bring
the appropriate product or service to customer. Through research, when the product
or services are announced to the market, the customers will purchase and bring back
profit to the organization.
- Remuneration: is also performed by human resource department. This is the stage
which organization paid for employees. Including basic salary, overtime, remunerate.
Depending on the position and work, each employee may have different
remuneration.
6. Process:
This is basically organization strictly follows their proper plan. Different organization
will choose for them different plan and strategy which appropriates to their product.
- Customer focus: this strategy mainly focusing on customer requirements, building
long-term relationship with the customer. This is an element where marketer sees the
customer experiencing an organization’s offering. Their priority is customer’s satisfy.
- Business-led: the ideal is to improve the quality of the product or service but with the
same cost or lower. This is the process which organization believe that customer
prefer a high quality product with a lower cost.
- IT support: basically technological support for clients and for organization themselves
to manage their information. Customer feedback online, selling through internet.
- R&D: is short for Research and Development, this is the process when organization
spend their money to research and try to develop their product. Mostly established
consumer goods organization spend significant part of their resources to do research
and develop their product, however they only spend less 5% for their research. On the
other hand, in the industries like pharmaceutical, software or high technology products
need to spend more for their products. There are three types of R&D:
+ Basic Research: this is for researching a subject more completely, and base on the
knowledge relating to it.
+ Applied Research: this research is to determine methods to address a specific
customer/industry need or requirement.
+ Development: when a research is used to produce specific product, this is the stage
where the research, knowledge and design for the product convert into prototypes.
7. Physical evidences:
This is the material part of service. It can be understood as an environment which the
service is delivered and where the firm and customer interact, and any tangible
components that facilitate the operation or communication of the service.
- Infrastructure: in order to provide customer a sense of trust in the product as same
as the organization, a good infrastructure which fully equipped with facilities, clean,
professional and eye-catching. Having a good infrastructure is the first step to creating
the foundation for your customers' trust.
- Technical and working environment: besides infrastructure, an organization is
equipped with professional machines related to products as well as advanced
technologies such as computer, fax machine which gives a professional feeling to
customers, due to that customer feel more safety and trust when buy the products. A
peaceful environment with friendly, professional, staffs will provide more trust to
customer. This based on human's usual psychology, when they are in a professional
and tidiness, people tend to feel safe and more trust on the organization.
- Certificate of quality: even both above elements can provide a good first impression,
but to make a success in business and have the trust of customer, the quality still the
will choose for them different plan and strategy which appropriates to their product.
- Customer focus: this strategy mainly focusing on customer requirements, building
long-term relationship with the customer. This is an element where marketer sees the
customer experiencing an organization’s offering. Their priority is customer’s satisfy.
- Business-led: the ideal is to improve the quality of the product or service but with the
same cost or lower. This is the process which organization believe that customer
prefer a high quality product with a lower cost.
- IT support: basically technological support for clients and for organization themselves
to manage their information. Customer feedback online, selling through internet.
- R&D: is short for Research and Development, this is the process when organization
spend their money to research and try to develop their product. Mostly established
consumer goods organization spend significant part of their resources to do research
and develop their product, however they only spend less 5% for their research. On the
other hand, in the industries like pharmaceutical, software or high technology products
need to spend more for their products. There are three types of R&D:
+ Basic Research: this is for researching a subject more completely, and base on the
knowledge relating to it.
+ Applied Research: this research is to determine methods to address a specific
customer/industry need or requirement.
+ Development: when a research is used to produce specific product, this is the stage
where the research, knowledge and design for the product convert into prototypes.
7. Physical evidences:
This is the material part of service. It can be understood as an environment which the
service is delivered and where the firm and customer interact, and any tangible
components that facilitate the operation or communication of the service.
- Infrastructure: in order to provide customer a sense of trust in the product as same
as the organization, a good infrastructure which fully equipped with facilities, clean,
professional and eye-catching. Having a good infrastructure is the first step to creating
the foundation for your customers' trust.
- Technical and working environment: besides infrastructure, an organization is
equipped with professional machines related to products as well as advanced
technologies such as computer, fax machine which gives a professional feeling to
customers, due to that customer feel more safety and trust when buy the products. A
peaceful environment with friendly, professional, staffs will provide more trust to
customer. This based on human's usual psychology, when they are in a professional
and tidiness, people tend to feel safe and more trust on the organization.
- Certificate of quality: even both above elements can provide a good first impression,
but to make a success in business and have the trust of customer, the quality still the
most important. Certificate of quality or CQ is a certificate of the goods quality in
accordance with the standards of the production country or international standards.
The purpose of CQ is to prove that the quality of goods conforming to the standard
published with the goods.
TASK 3.2:
Marketing mix (7Ps) Vina Acecook Masan food
Product Instant noodle with various
flavors for different
customers to choose. They
have package type or
canned for. Besides instant
noodle they also have other
types such as Bun and
Pho.
Masan food has various
types of products such as
instant noodle, fish sauce,
soy, chili sauce, instant
coffee.
Price Acecook’s product usually
have the low price, mostly
under five thousand dong
because they focus on the
medium segment.
Masan Consumer focuses
on high end so they price
are higher than Acecook.
Place The company has over 600
distribution agents spread
throughout the country,
their products are selling in
convenient store, grocery,
super market.
Just like Acecook, Masan
food’s products mostly
sales at convenient store,
grocery, market. Masan
Consumer’s distribution and
sales logistics network, the
largest and most extensive
in Vietnam, allows them to
deliver our products
anywhere in Vietnam within
one day.
Promotion They usually have free gifts
for customers buy their
product, especially on
holiday. The promotions
they often use are buy 2 get
1, free gifts like spoon or
cup. They also have
commercial on national
channels, radio, poster.
Besides the promotion, they
also have advertising on
national channels, poster
and campaigns to increase
awareness for the brand
name.
People One of the most important
position in this industry is
sales. Because the wide
market and the number of
The executives have an
average of 18 years of
experience in the domestic
food and beverage industry.
accordance with the standards of the production country or international standards.
The purpose of CQ is to prove that the quality of goods conforming to the standard
published with the goods.
TASK 3.2:
Marketing mix (7Ps) Vina Acecook Masan food
Product Instant noodle with various
flavors for different
customers to choose. They
have package type or
canned for. Besides instant
noodle they also have other
types such as Bun and
Pho.
Masan food has various
types of products such as
instant noodle, fish sauce,
soy, chili sauce, instant
coffee.
Price Acecook’s product usually
have the low price, mostly
under five thousand dong
because they focus on the
medium segment.
Masan Consumer focuses
on high end so they price
are higher than Acecook.
Place The company has over 600
distribution agents spread
throughout the country,
their products are selling in
convenient store, grocery,
super market.
Just like Acecook, Masan
food’s products mostly
sales at convenient store,
grocery, market. Masan
Consumer’s distribution and
sales logistics network, the
largest and most extensive
in Vietnam, allows them to
deliver our products
anywhere in Vietnam within
one day.
Promotion They usually have free gifts
for customers buy their
product, especially on
holiday. The promotions
they often use are buy 2 get
1, free gifts like spoon or
cup. They also have
commercial on national
channels, radio, poster.
Besides the promotion, they
also have advertising on
national channels, poster
and campaigns to increase
awareness for the brand
name.
People One of the most important
position in this industry is
sales. Because the wide
market and the number of
The executives have an
average of 18 years of
experience in the domestic
food and beverage industry.
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competitions, salesman
reflects a portion of profit of
the business.
Salesman also one of the
most important to them just
like Acecook.
Process Using modern systems to
produce products, using
easy-to-remember
packaging to impress and
attract customers to brand
name. Have quality control
procedures in accordance
with international standards
to ensure product quality.
Efficient manufacturing
facilities with the highest
quality standards, they
have the renovation
process for instant noodles
facility in 2013 which
increase production
capacity by 60 million
packets per month
Physical evidences Acecook now owns 6
manufacturing plants all
over the country. They
mainly selling product
through intermediary so the
company does not have a
showroom.
Their headquarters in 1
district Ho Chi Minh city, is
one of the biggest company
in Vietnam personal
economic sector. Same as
Acecook their products are
sold through intermediary
so they do not have their
own showroom.
TASK 4:
- Marketing plan helps organization understand their business, their target market,
understand their SWOT, PEST and through that organization can make a plan to meet
their goal. A good marketing plan helps customers to understand organization product
or service, to let them know that why they should choose the organization product
over competition. It helps organization to reach their target customers, create a
relationship with them and of course a truly good marketing plan have to make profit
for the organization. The thing organization needs most is profit, and without
customers they will not have it. To attract customers, organization has to understand
their market, their brand, understand their strength and use it to gain customer’s
attention. Making a marketing plan helps organization understand their own situation,
their target customer, and helps them to control their business. The very first step to
make a marketing plan is research, analysis organization’s business and their target
market, next is to define the goals and financial, finally creates strategies and tactics
to reach the goals. A marketing plan is important to every one see and follow, the
organization as a whole will understand the direction of their business. The other value
is being able to maintain accountability. The last value is to guaranty that the message
at the end of the chain still sounds very much the same as it did at the beginning.
- They have a close relationship, marketing plan is made to reach marketing objective
and without marketing plan the organization goals will not be met. Both rely on each
other to produce an optimal, efficient marketing campaign. The entire marketing
reflects a portion of profit of
the business.
Salesman also one of the
most important to them just
like Acecook.
Process Using modern systems to
produce products, using
easy-to-remember
packaging to impress and
attract customers to brand
name. Have quality control
procedures in accordance
with international standards
to ensure product quality.
Efficient manufacturing
facilities with the highest
quality standards, they
have the renovation
process for instant noodles
facility in 2013 which
increase production
capacity by 60 million
packets per month
Physical evidences Acecook now owns 6
manufacturing plants all
over the country. They
mainly selling product
through intermediary so the
company does not have a
showroom.
Their headquarters in 1
district Ho Chi Minh city, is
one of the biggest company
in Vietnam personal
economic sector. Same as
Acecook their products are
sold through intermediary
so they do not have their
own showroom.
TASK 4:
- Marketing plan helps organization understand their business, their target market,
understand their SWOT, PEST and through that organization can make a plan to meet
their goal. A good marketing plan helps customers to understand organization product
or service, to let them know that why they should choose the organization product
over competition. It helps organization to reach their target customers, create a
relationship with them and of course a truly good marketing plan have to make profit
for the organization. The thing organization needs most is profit, and without
customers they will not have it. To attract customers, organization has to understand
their market, their brand, understand their strength and use it to gain customer’s
attention. Making a marketing plan helps organization understand their own situation,
their target customer, and helps them to control their business. The very first step to
make a marketing plan is research, analysis organization’s business and their target
market, next is to define the goals and financial, finally creates strategies and tactics
to reach the goals. A marketing plan is important to every one see and follow, the
organization as a whole will understand the direction of their business. The other value
is being able to maintain accountability. The last value is to guaranty that the message
at the end of the chain still sounds very much the same as it did at the beginning.
- They have a close relationship, marketing plan is made to reach marketing objective
and without marketing plan the organization goals will not be met. Both rely on each
other to produce an optimal, efficient marketing campaign. The entire marketing
divisions have to work together to create an effective plan in order to reach the
marketing objective.
- A structure and development of marketing plans include:
1. Setting goals and objectives: any organization has their own goals to reach,
marketer should understand their organization’s objective and try to reach it.
The best way is to write down the list of what goals organization towards, and
the goals much be appropriate to organization, the target which organization
can reach and perform.
2. Situational analysis tools and techniques: look at the organization realistic
situation and position in the target market. Understand SWOT, PEST of the
organization, through this step marketer will capable understand the situation
of organization and can make a more practicable marketing plan.
3. Creating a marketing strategy and allocation of resources and monitoring and
control measures: create appropriate strategies for organization, making a
direct email to customer, PR, poster, advertising and other marketing activities
to attract customer attention and awareness about the brand name same as
the product or service.
Allocation of resource is difficult to make because decisions need to be made
at many different levels: across countries, products, marketing mix elements,
and different vehicles within elements of the mix. There are many ways to
allocate marketing resource and following is two stage out of that.
+ Stage one, estimates a model of demand which empirically assesses the
impact of marketing activities on consumer demand of an organization's
product.
+ Stage two, estimates from the demand model are used as inputs in an
optimization model to try to maximize returns. This stage takes into account
costs as well as firm's objectives and constraint.
Monitoring and control measures are the heart of safety management. There
are three types of monitoring:
+ Periodic performance monitoring: assess control measures in a formal
assessment process on an annual or semi-annual basis.
+ Scheduled monitoring: regular monitoring control measures.
+ Ongoing monitoring: daily monitoring control measures.
Conclusion: to make an organization reach their goals and success in their business, the
organization must have a good marketing plan and have strategies which appropriate to their
situation. To make marketing plan practicable marketer needs to do research and analysis
about the organization, their product, target market and customers. Marketer need to
understand where are their position at the market, what customers need and want from the
product.
marketing objective.
- A structure and development of marketing plans include:
1. Setting goals and objectives: any organization has their own goals to reach,
marketer should understand their organization’s objective and try to reach it.
The best way is to write down the list of what goals organization towards, and
the goals much be appropriate to organization, the target which organization
can reach and perform.
2. Situational analysis tools and techniques: look at the organization realistic
situation and position in the target market. Understand SWOT, PEST of the
organization, through this step marketer will capable understand the situation
of organization and can make a more practicable marketing plan.
3. Creating a marketing strategy and allocation of resources and monitoring and
control measures: create appropriate strategies for organization, making a
direct email to customer, PR, poster, advertising and other marketing activities
to attract customer attention and awareness about the brand name same as
the product or service.
Allocation of resource is difficult to make because decisions need to be made
at many different levels: across countries, products, marketing mix elements,
and different vehicles within elements of the mix. There are many ways to
allocate marketing resource and following is two stage out of that.
+ Stage one, estimates a model of demand which empirically assesses the
impact of marketing activities on consumer demand of an organization's
product.
+ Stage two, estimates from the demand model are used as inputs in an
optimization model to try to maximize returns. This stage takes into account
costs as well as firm's objectives and constraint.
Monitoring and control measures are the heart of safety management. There
are three types of monitoring:
+ Periodic performance monitoring: assess control measures in a formal
assessment process on an annual or semi-annual basis.
+ Scheduled monitoring: regular monitoring control measures.
+ Ongoing monitoring: daily monitoring control measures.
Conclusion: to make an organization reach their goals and success in their business, the
organization must have a good marketing plan and have strategies which appropriate to their
situation. To make marketing plan practicable marketer needs to do research and analysis
about the organization, their product, target market and customers. Marketer need to
understand where are their position at the market, what customers need and want from the
product.
References
ACUTT, M., 2015. marketingmix. [Online]
Available at: http://marketingmix.co.uk/
[Accessed 18 06 2018].
Britton, T., n.d. aviationsafetyblo. [Online]
Available at: http://aviationsafetyblog.asms-pro.com/blog/how-to-monitor-the-
effectiveness-of-control-measures
[Accessed 20 06 2018].
business.gov.au, 2018. business. [Online]
Available at: https://www.business.gov.au/info/plan-and-start/develop-your-business-
plans/marketing/why-do-i-need-a-marketing-plan
[Accessed 20 06 2018].
Businessdictionary, n.d. businessdictionary. [Online]
Available at: http://www.businessdictionary.com/definition/list-price.html
[Accessed 18 06 2018].
cleverism, n.d. cleverism. [Online]
Available at: https://www.cleverism.com/rd-research-and-development-overview-process/
[Accessed 22 06 2018].
Martin, 2014. cleverism. [Online]
Available at: https://www.cleverism.com/place-four-ps-marketing-mix/
[Accessed 18 06 2018].
Wofford, C., 2015. ecornell.. [Online]
Available at: http://blog.ecornell.com/price-positioning-strategies/
[Accessed 18 06 2018].
Woodruff, J., 2018. smallbusiness. [Online]
Available at: http://smallbusiness.chron.com/different-types-pricing-strategy-4688.html
[Accessed 16 06 2018].
ACUTT, M., 2015. marketingmix. [Online]
Available at: http://marketingmix.co.uk/
[Accessed 18 06 2018].
Britton, T., n.d. aviationsafetyblo. [Online]
Available at: http://aviationsafetyblog.asms-pro.com/blog/how-to-monitor-the-
effectiveness-of-control-measures
[Accessed 20 06 2018].
business.gov.au, 2018. business. [Online]
Available at: https://www.business.gov.au/info/plan-and-start/develop-your-business-
plans/marketing/why-do-i-need-a-marketing-plan
[Accessed 20 06 2018].
Businessdictionary, n.d. businessdictionary. [Online]
Available at: http://www.businessdictionary.com/definition/list-price.html
[Accessed 18 06 2018].
cleverism, n.d. cleverism. [Online]
Available at: https://www.cleverism.com/rd-research-and-development-overview-process/
[Accessed 22 06 2018].
Martin, 2014. cleverism. [Online]
Available at: https://www.cleverism.com/place-four-ps-marketing-mix/
[Accessed 18 06 2018].
Wofford, C., 2015. ecornell.. [Online]
Available at: http://blog.ecornell.com/price-positioning-strategies/
[Accessed 18 06 2018].
Woodruff, J., 2018. smallbusiness. [Online]
Available at: http://smallbusiness.chron.com/different-types-pricing-strategy-4688.html
[Accessed 16 06 2018].
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