Marketing Mix and Marketing Budget for MUJI in Vietnam

Marketing Mix and Marketing Budget

Contents
MARKETING MIX...................................................................................................................... 2
MARKETING BUDGET............................................................................................................... 5
REFERENCES............................................................................................................................. 7
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MARKETING MIX
The marketing mix of the MUJI will help to develop the foundation marketing model for
expansion in Vietnam. Four P of marketing that is the product, price, promotion and place
will be analysed according to the marketing condition to get the maximum advantage of the
investment made and it will also help to reduce various risk (Huang and Sarigöllü, 2014). The
marketing mix of the MUJI is as follows:
Product
The products of MUJI have a speciality of being of the simple in design, low cost and made
from high-quality material. In addition to this, the product of the company also made from
composite material that includes recycled wood. Currently, the company offers more than
7000 products that can fulfil the needs and requirements of commercial and the residential
furniture needs of the Vietnam (MUJI Annual Report, 2017). As the designs of the products
are simple and modifications are likely to be made easily the company should not make any
specific changes in the product design and offering for the various stores in Vietnam, this
process will help the company to take advantage of the globally accepted deigns (Kotler and
Armstrong, 2010).
With regard to the branding of products, packaging and labelling the company must
continue to the use its "No Brand" strategy. Suitable application of the "No Brand" strategy
of the MUJI will help to reduce the cost of the product packaging and branding (MUJI
Annual Report, 2017). The company will also get the benefit of the reverse phycology
marketing with the help of the “No Brand” Strategy. In addition to this, it will also support
the “Green consumerism” with regard to the reduced carbon emission and the
environmental preservation due to appropriate packing (Akenji, 2014).
Price
As the company will be in an initial opening stage in Vietnam, the company must adopt an
"Opening discount pricing strategy” to gain maximum customer attention and the action an
good volume of sale in the initial phase of launching (Kotler and Armstrong, 2010). This
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