Marketing Planning Process : Assignment

MARKETING PROCESSES AND PLANNING (5033)
INSTRUCTOR:Mr. Dang Son Tung
UNIT 2
INDIVIDUAL
ASSIGNMENT___
By Vo Hoang Yen Nhi/GBH1010
[Draft]

2
Preface
“Major international brands are setting up shop in Vietnam and expanding
quickly to tap a rapidly growing fashion market.” (VNexpress International,
2019)
Vietnam, with its young demographic, growing incomes and 95 million
population, is considered a hugely promising market. Foreign brands are
attracted to its 15-20 percent annual growth, according to the chairman of the
Vietnam Retailers Association, Dinh Thi My Loan.
Vietnamese consumers are also shifting towards prioritizing items like clothes
and fashion. In a report released last year, market research firm Nielsen said
clothes were Vietnamese consumers’ third spending priority after food and
saving.
Laura McCullough, a senior Nielsen executive, said: “The change in the level of
wealth of Vietnamese people enables them to buy international standard
products and services. More and more Vietnamese are choosing to buy luxury
goods or exclusive products.”
Thanks to the Vietnamese fondness for fast fashion, ZARA’s revenues in
Vietnam doubled to $73.27 million last year, four times its Thailand sales, the
company said in its latest financial report.
To go further, this script will provide introduction and analysis to Marketing,
and its influence on the fashion industry, particularly, with ZARA organisation.

3
Introduction
1. Definition of Marketing
In fact, Marketing is understood in many ways. People think marketing is
advertising. People think marketing is the retail market. But the essence of
marketing is “The process by which companies create value for customers and
build strong customer relationships in order to capture value from customers
in return”. (Kotler & Armstrong, 2014)
Overview
1. How important is Marketing
Marketing allows businesses to maintain long-term relationships with
their audience. It is an ongoing strategy that creates customer
engagement which is a path to business flourishment.
2. The key roles of Marketing
As Marketing becomes a significant function in every business, so for it
to be successful, according to Kotler & Armstrong, the marketer needs
to understand the five core customer and Marketing concepts:
I. Needs wants and demands
In short, Needs are what satisfy the basic requirements, a part of
human makeup; Wants are shaped by culture and personality, which