Marketing Strategy Part 2

MARKETING STRATEGY-
PART-2

Contents
Introduction........................................................................................................... 2
Opportunities for Ready Meals in Vietnam.............................................................2
Development of (SMART) specific, measurable, actionable, realistic, relatable,
and time-bound..................................................................................................... 4
Outlining the international marketing strategy......................................................5
Product modification (Price, place, promotion, and other distribution decisions). .6
Conclusion............................................................................................................. 8
References............................................................................................................. 9

Introduction
This report elaborates Vietnam`s economy and its relevant to opportunities in regards to
Ready Meals. Some of the opportunities are availability of the natural resources of Vietnam,
confidence in regards to western products, Vietnamese beverage industry, and food retailing.
This report describes construction of SMART goal that includes Specific, measurable,
attainable, relevance, and time-bound (Bocconcelli et al., 2018). A report analyses brand that
covers 4Ps (Price, product, place, and promotion), which explains the marketing strategy.
This report covers pricing, distribution, advertisement, and strategies as accomplished by
organisation (Bocconcelli et al., 2018). Within the food industry, greatest growth came from
the impulse category such as cake, snacks, and biscuits. Vietnamese consumers opt two major
concerns where ninety percent are better concerned with long-term effect on health of
artificial ingredients and seventy-six goes into food. Nearly 83 percent make dietary choices
in order to prevent severe health conditions (Bocconcelli et al., 2018). Some of the top
differentiating attributable, which we choose to healthy products are calcium-fortified,
micronutrient fortified, vitamin forfeited, high in fibre, low cholesterol. Some of the
manufacturers in the Vietnam market, which have capitalised highlighting products with
several characteristics (Bocconcelli et al., 2018). Growth in fast food production has
increased the several activities of businesses, which serve the industry by including beef,
western style, other foods international outlets, Japanese, wine, seafood and seasoning
(Bocconcelli et al., 2018).
Opportunities for Ready Meals in Vietnam
Availability of natural resources- several agricultural products such as coffee, tobacco,
coconut, jute, rubber, sweet potato, soya beans, rice, maize and subtropical fruits which are
produced and exported at the same time. Vietnam has emerged as the largest rice exporter in
globe and it produces near Mekong river delta (Felix, Rauschnabel, and Hinsch, 2017).

Vietnam is a tropical nation that has humid monsoon climate. Vietnam`s strong economic
growth that attracts great attention in region. FDI has been increasing especially from
Singapore, Japan, Taiwan, and Hong-Kong (Felix, Rauschnabel, and Hinsch, 2017).
Consumer’s confidence in western products is good. Vietnam has been continuously
increasing the market for Victorian and the Australian food products in regards to the staple
food such as wheat and milk powders (Martin, and Javalgi, 2016). It has been seen that
retailers of Vietnam, distribution, and food service infrastructure has been growing but it will
be well behind the South East Asian neighbours at the same level of brand awareness. The
population of Vietnam increasing prefer packaged and ready meals for consumption.
Establishment of direct venture is more comfortable as Vietnam historically discourage FDI
in the food sector so that they could protect domestic organisations and traditional sector
(Felix, Rauschnabel, and Hinsch, 2017).
The Vietnamese beverage industry has been emerging grow stronger with increasing
incomes, preferences, and the unique features by enhancing opportunities, which food firms
will have to know how to grab the opportunities (Martin, and Javalgi, 2016).
The Vietnam market with 92 million people where there is a higher percentage of population
under 30 age with increasing disposable income, increasing westernisation trends in culture
and busier lifestyles are some of the main factors to drive dynamic situation in regards to
consumption nature (Martin, and Javalgi, 2016). The Vietnam`s demand for the agricultural
products and commodities is quite significant, experience steady growth, and current trending
greater interest in the western taste and preferences that can be preferable to both local and
international food suppliers (Martin, and Javalgi, 2016).
Food retailing in Vietnam is infant in Vietnam as only 25 percent of the Vietnam population
are classified as urban and other two cities for the near population of one million. The