respond to your classmates.
1. Discuss the marketing plan insights P & G has gained through its Vietnamese Marketing Studies.
P&G is keen to hook customers when they are young, a no brainer in a country where 45 percent of the population is under 25 (Coleman, 2012 para 5). By exposing consumers when they are young it is grinded into their memory and have expanding range of many products as they get older.
How influential are those discoveries in the development of P&G strategy’s to enter Vietnamese market?
By exposing the young market to these products the future will create an abundance of consumers geared towards their product.
In developing a marketing plan identify the characteristics of the marketing plan that p & g should implement to boost performance.
One is to realize that Vietnam is a young culture. According to Henretta (2012) “Vietnam is a young culture very interested in trying new things, so you don’t have to be the 100 year incumbent to be able to win”. Vietnam and other Asian countries, including potential markets such as Myanmar, are” the growth engines for the company” (Coleman, 2012, para 8). This is important to focus on the growing market in Asia. There are many countries that are potential for the rise in the market of P&G, and allowing to see the full marketing potential with the constant growing culture.
Coleman, L. (2012). P&G play kindergarten catch-up with unilever in Vietnam
Retrieved from www.bloomberg.com
2. Proctor & Gamble began their marketing plan by targeting the young and using many of their products to introduce to their targeted audience. By using such a strategy this could give them insight on if the products were satisfying to the customer.
By doing research the company discovered that people in Vietnam had the use for helmets because most of them owned motorbikes for transportation. Once the company determined what Febreze could be used they were able to gain more customers.
When a marketing plan is set into place there are many areas that have to be observed such as communication, financial outlook, and not to mention research on the product that will be marketed. In order for Proctor and Gamble to succeed in Vietnam they must keep focus on such areas and focus on what draws their customers to their products.
Coleman-Lochner, L. (2012, January 1). P&G Plays Kindergarten Catch-Up With Unilever in Vietnam. . Retrieved, from http://www.bloomberg.com/news/2012-07-04/p-g-plays-kindergarten-catch-up-with-unilever-in-vietnam.html
3. Proctor & Gamble (P&G) is making a huge impact in Vietnam and they are leaving no prisoners. It is almost impossible for an individual to not experience P&G products throughout special events and just everyday life. This is where their marketing planning is set at a high and the reaction from the Vietnamese market is proving positive. P&G focuses mainly on the younger generation by sponsoring and becoming a major part of a kindergarten community and beginning the unconscious marketing at a young age. So if the older generation provides most of the recent income, why is the focus aimed towards those younger in age? Coleman-Lochner explains that once in the P&G fold, customers can be introduced to an expanding range of products as they grow older, and more prosperous (Coleman-Lochner, 2012). This method helps P&G to guarantee a longer success period and helps them to stay prosperous and relevant. They master this understanding by remaining strongly visible to the Vietnamese’s younger generation and just enough visual for the older generation and this is what locks P&G in successful position in Vietnam. I believe that Proctor & Gamble have done an excellent job in following the market plan by targeting the younger generation, performing extreme advertising methods, and appealing to the more privileged customers and also the under privileged. P&G has set their mark in Vietnam to have a strong advantage against any present competition or any competition that may arise in the future.
Coleman-Lochner, L. (2012). P&G plays kindergarten catch-up with Unilever in Vietnam. Bloomberg. Retrieved from http://www.bloomberg.com/news/2012-07-04/p-g-plays-kindergarten-catch-up-with-unilever-in-vietnam.html
Guided Response: Provide suggestions to at least one of your classmates on how they may be able to address some of the elements they are struggling with in their plan. In particular, try to focus your feedback on any classmates that are introducing a product in the same, or similar, industry as your own.
4.In writing my final project, which is the marketing plan, I must admit I don’t really know where to begin. I’m still in the brainstorming phase, I’m trying to think of ways I can format the plan and have it make sense to the reader. This is a challenge, I must admit, as I have never done one before. I do have to say it is very fascinating though, I just wish I had more time, but I am not wasting any.
So the product I chose was my trainer Marc. March had been trying to launch his own special workout in the park where he can privately train individuals on proper exercise techniques and diet/ nutrition. “It is all about a lifestyle, and meeting your full potential to be the better you”, says Marc. In doing this I will present the reader with a quick bio on Marc, the former fireman has a great story to tell, as how he got into the world of fitness, which is both fascinating and inspiring. Then we will move on towards who his potential market is, and discuss price ranges. A website for Marc will be built to give the client a personal feel for Marc.
I choose this because I love fitness and maintaining a healthy life, and not mention I thought it would be great practice to focus on a real individual.
As far as the element I am having problems with is getting started, and the market research. Since I choose a product that does not have information on the web, I need to rely on the individual himself. I need to take inventory of the people that he trains both in a group and one on one.
Any additional information that would be needed would be forms of product differentiation. Why go to Marc, there are thousands of trainers out there, why him? This will also be discussed in my plan. How is he going to package his services? These are all questions to be answered in the coming days I will be spending with Marc. I would greatly appreciate any positive feedback and also suggestions if you have any.
5. Provide a brief overview of the product for which you are going to write your Marketing Plan.
I have chosen to write my Mark
Why did you choose it?
I choose this product because my family and I have a wood pellet stove and the only way one even knows where to find them at reasonable deals is from word of mouth and being lucky enough to pass a store that happens to be advertising them.
Which elements of the plan are you having difficulty with?
The element that I am having difficulty with is making the need for promotion and advertising worthwhile to everyone. There does not seem to be a great demand for the wood pellets themselves, but one sees the stoves themselves being advertised at several business such as Lowe’s, Home Depot and specialty stores that make the stoves.
What additional information would be needed to make the most informed strategic decisions for the future implementation of your plan?
One needs to know how many store front, and online businesses sell the stoves and then to find where the wood pellets themselves can be purchased. Also I will need to find out what they are being sold at and if any of them have advertised anywhere but the internet or word of mouth. Knowing whether the store fronts and online businesses who sell the stoves even have an arrangement to promote the wood pellets at the same time will be a need to know that will promote the knowledge of where stove owners can purchase the pellets.
6.In my marketing plan I have chosen coffee to write about. I have decide on this product because there is such a large market for the product and as of today Starbuck’s is the leading coffee producer with numerous competitors in the market. Coffee if a billion dollar business and constantly growing with new products and ideas. The coffee business has gotten so large I see that many grocery stores are selling more brands.
I have been working on my paper and at this particular time all elements are difficult. I am in that in between stage of I think I got it and UGGGHHHHH what am I missing. My struggle comes from anxiety of this final project and how important it is to my final grade.
If there is any additional information that you may have to assist me with my strategic process and putting it together; any suggestions would be greatly appreciated just to keep me on track.