NATIONAL ECONOMICS UNIVERSITY, HANOI BTEC HND IN BUSINESS
(MARKETING)ASSIGNMENT COVER SHEET
IBD REG. NO: UNIT TITLE ASSIGNMENT TITLE ASSIGNMENT TYPE NAME OF
ASSESSOR SUBMISSION DEADLINE
Unit 1: Marketing
1901 Hot Dogs1 of 2 (Individual Report) Jeffery Lim / Ms. Thanh
April 11th, 2011 (Monday)
I, __________________________ hereby confirm that this
assignment is my own work and not copied or plagiarized from any
source. I have referenced the sources from which information is
obtained by me for this assignment.
________________________________ _________________________
Signature Date
1
---------------------------------------------------------------------------------------------------------------FOR
OFFICIAL USE
ASSIGNMENT GRADE
Common Skills Grade A B C D E F G
Unit OutcomesOutcome Evidence for the criteria Feedback
Assessors decision Internal Verification
Compare alternative definitions of marketing
a
Investigat e the concept and process of marketing (1)
Identify the main characteristics of a marketing oriented
organisation
b
Explain the various elements of the marketing concept
c
Identify and assess the benefits and costs of a marketing
approach
d
2
Outcome
Evidence for the criteria Identify and explain macro and micro
environmental factors which influence marketing decisions
Feedback
Assessors decision
Internal Verification
a
Explore the concepts of segmentat ion, targeting and positionin
g (2)
Propose segmentation criteria to be used for two products in
different markets Outline the factors which influence the choice of
targeting strategy Explain how buyer behaviour affects marketing
activities in two different buying situations
b
c
d
Merit grades awarded Distinction grades awarded
M1 D1
M2 D2
M3 D3
Assignment( ) Well-structured; Reference is done properly /
should be done (if any) Overall, youve
Areas for improvement:
3
Outcome
Evidence for the criteria
Feedback
Assessors decision
Internal Verification
ASSESSOR SIGNATURE
NAME:.........................................................................(Oral
feedback was also provided) STUDENT SIGNATURE NAME
:.................................................................................
DATE /
DATE
/
/
/
FOR INTERNAL USE ONLY
VERIFIED
YES
NO
DATE :
...........................................................
VERIFIED BY :
........................................................... NAME :
...........................................................
COMMON SKILLS & COMPETENCIES ASSESSED (indicated by X)
4
1. Managing own roles & responsibilities 2. Manage own time
in achieving objectives 3. Undertakes personal and career
development 4. Transfer skills gained to new/changing situations
& contexts
X
12. Use information sources 13. Deal with a combination of
routine & non-routine tasks 14. Identify & solve routine
& non-routine problems
X
X X15. Applying numerical skills and techniques
5. Treat others beliefs and opinions with respect 6. Relate
& interact effectively with individuals & groups 7. Work
effectively as a team member
16. Use a range of technological equipment and systems 8.
Receive and respond to a variety of information 9. Present
information in a variety of visual forms 10. Communicate in writing
11. Participate in oral & no-verbal communication
X X17. Applying a range of skills and techniques to develop a
variety of ideas in the creation of new / modified products,
services or situations 18. Use a range of thought processes
X
TABLE OF CONTENTEVIDENCE FOR THE CRITERIA
..............................................................................................................................2
B. WORKING WITH & RELATING TO OTHERS
.................................................................................5
E. APPLYING
NUMERACY.....................................................................................................................5
F. APPLYING
TECHNOLOGY.................................................................................................................5
C.
COMMUNICATING..............................................................................................................................5
G. APPLYING DESIGN AND
CREATIVITY...........................................................................................5
TABLE OF
CONTENT........................................................................................................................................5
MARKETING
REPORT.....................................................................................................................................8
A. INTRODUCTION:
............................................................................................................................8
1901 Hot
Dogs........................................................................................................................................8
B.
FINDINGS:...........................................................................................................................................11
I. PART
1......................................................................................................................................................11
THE BASIC CONCEPT OF
MARKETING...................................................................................................................11
I(a)/ Compare alternative definitions of marketing and explained
the importance of being a contemporary
marketer.........................................................................................................................11
I(b)/ Identify the main characteristics of a market-orientated
organization for todays modern business.
..............................................................................................................................................................14
I(c)/ Identify the elements of marketing concept and explain its
important to 1901 Hot Dogs...............16 I(d)/ Identify and
assess the benefits and costs of a marketing approach for 1901 Hot
Dogs in Vietnam.
..............................................................................................................................................................20
II. PART
2....................................................................................................................................................22
SEGMENTATION, TARGETING AND BUYER
BEHAVIOR.............................................................................................23
II(a)/ Identify and explain macro and micro environmental factors
which influence marketing decisions affecting 1901 Hot Dogs in
Vietnam......................................................................................................23
II(b)/ Propose segmentation criteria to be used for 1901 Hot Dogs
in two different markets in Vietnam.
..............................................................................................................................................................28
It is believed that an organization cannot satisfy all the
customers need and want. It wastes a lot of time and money to
satisfy all customers and it is unnecessary. According to my
understand, segmentation, simply a process of dividing a market
into sections, which have common characteristic,
5
behavior and so on. There are two factors need to be considered
when selecting a target market segment are the captivation of the
segment and its appropriate for the companies goals, objectives,
resources and capabilities.
...................................................................................................................28
There are many ways to segment the market. In this case, I only
focus on 2 main base segmentations of Vietnamese market: geographic
and
demographic................................................................................29
1/
Demographic....................................................................................................................................29
Among these above factors, age and income are considered to be the
two most important factors. Firstly, the consumers age can be
divided into 3 areas: children, teenager and adult. For the
children, 1901 Hot Dogs can set a children menu for them which is
small and suitable portion for a child, attractive and various
meals. Besides, applying some event such as offering them a gift
after consuming 2 or 3 times the children set. For the teenagers,
they prefer a big and enough nutrition set meal. However, it is
hoped that 1901 Hot Dogs can serve them a big meal with an
appropriate price, because their main income comes from their
parents. 1901 Hot Dogs should focus strongly on this area because
they are the biggest area compared to 2 others areas. As we have
known, teenage is the period of time we need to consume enough
nutrition (2500 calories/day for girl and 2900 calories/day for
boy). Obviously, they put their choice on fast food not only
because of its delicious but also because they find it very
interesting and proud when their friends see them eating in a nice
view fast food restaurant. Therefore, satisfying teenagers is very
important for 1901 Hot Dogs. The last area is the adult people
which are already have income and lack of time for cooking. 1901
Hot Dogs need to consider about the quality, not about the quantity
in this area. The women maintain their physical appearance very
carefully. Thus, the sets meal for the adult people should provide
not only protein, starch but also adequate
vitamin...................................................................................................................................29
Income is considered as an important factor also. It can be seen
clearly that the urban residents have the highest income compared
to other areas. However, to consume fast food frequently require
the average income more than 500 USD. So the people who have the
average income more than 500 USD will be the target of 1901 Hot
Dogs. Because a regular deal is priced at 6.5RM (about 45.000vnd)
and a regular orange juice/ lemon tea is priced at 2.20RM (about
15.000vnd). Thus, going to 1901 Hot Dogs for a meal may cost
Vietnamese people about 60.000vnd, required medium level and high
level income. Paying that level for a meal, the customers demand
1901 Hot Dogs serve them a good service such as fast delivery
service, cleanliness and good serving
attitude......................................................30 2/
Geographic........................................................................................................................................30
The following are some examples of geographic variables often used
in segmentation:......................30 Vietnam has a rapid
population growth; the average growth rate of Vietnam's population
is 2.23 %. The population of Vietnam is large enough to make it
second most populous country in the South-East Asia, seventh in the
Asia-Pacific region and the 12th most populous in the world-list.
It is suggested that Vietnam is a big and potential market for 1901
Hot Dogs. As being mentioned in the previous part, income is one of
the most important factor, so the two biggest cities: Hanoi and Ho
Chi Minh (representing for North and South) should be concerned to
be the two main markets...........................30 The reason for
dividing into 2 markets (North and South) is that the cuisine
culture of each region has its own features. The Northern cuisine
is not strong spicy, fatty and sweet as other regions. They mainly
use diluted fish sauce, more vegetables and other fresh seafood
readily available such as shrimp, crab, fish, clams, mussels, etc.
Generally, because of the ancient tradition with poor agriculture,
Northern food in the past did not prevalent the main dish with raw
material are meat and fish. Many people highly appreciated Hanoi
culinary, they indicated that Hanoi culinary represents for the
essence of the typical North
cuisine.................................................................................................30
However, the Southern cuisine which was influence strongly of
Chinese, Cambodia and Thailand food, have the main characteristic
is that often use sugar and coconut essence. Southern cuisine also
used more seafood (in salt groundwater and brackish groundwater)
than the Northern...............................31 Understanding
those cultures, 1901 Hot Dogs needs to pay attention to process the
appropriate meal for each region. For example, 1901 Hot Dogs should
serve more sweet spicy and chilly sauce for the existing meals in
the Southern. On the other hand, 1901 Hot Dogs might have to create
and serve some dishes which are less sweet and bitter for the
Northern.
.......................................................................31
II(c)/ Outline the factors which influence the choice of targeting
strategy for 1901 Hot Dog in Vietnam
..............................................................................................................................................................31
Once a firm has successfully identified the segments within a
market, the next step is to target these segments with products
that closely match the needs of the customers within that segment.
The
6
selection of potential customers to whom a business wishes to
sell products or services. The targeting strategy involves
segmenting the market, choosing which segments of the market are
appropriate, and determining the products that will be offered in
each segment. A business offering multiple products can determine
if the various segments should receive one generic product (such as
in mass marketing), or if each segment should receive a customized
product (multi-segment), based upon the market's diversity,
maturity, the level of competition and the volume of sales expected
also called targeting. There are a number of targeting strategies,
including:.........................................................................31
Niche/concentration
marketing..............................................................................................................31
Mass/undifferentiated
marketing...........................................................................................................31
Differentiated/selective
marketing.........................................................................................................31
In this case, mass/undifferentiated marketing is my best choice for
1901 Hot Dogs in entering the Vietnam market. Mass marketing is a
market coverage strategy in which a firm decides to ignore market
segment differences and go after the whole market with one offer.
It is type of marketing (or attempting to sell through persuasion)
of a product to a wide audience. The idea is to broadcast a message
that will reach the largest number of people possible.
Traditionally mass marketing has focused on radio, television and
newspapers as the medium used to reach this broad audience. The
reason for choosing this targeting strategy is that mass marketing
is most suitable for products which are affordable and variety in
nature. The disadvantage of niche marketing in this case is that
the potential for sales growth and economies of scale may be
limited, and the survival of the firm may be seriously affected if
sales begin to decline. The differentiated/ selective marketing
will not be chosen because the main disadvantages of this approach
include confusion amongst customers when faced with dozens of
brands and lost economies of scale from shorter production runs and
the additional costs of having to advertise several rather than one
brand. Customers need variety yet affordable. If the product is too
expensive, they are still unable to buy until later stage. With
mass marketing, 1901 Hot Dogs can produce on a large scale,
expanding a huge number of branches, making profit from the lower
and affordable
price....................................................................................................................32
As selecting the demographic and geographic segmentation, market
variability is also a factor that can not be ignored. The
Vietnamese consumers demand differently tastes, preferences and
reactions to stimulus and other marketing mixes. Accordingly, 1901
Hot Dogs need to create constantly more and more types of dishes,
set meal and dessert also to satisfy their
customers.............................................32 Finally,
competitors marketing strategies is an important external factor
should be concerned also. There are many existing famous brands in
Vietnam such KFC, BBQ, Lotteria, etc. For a new comer like 1901 Hot
Dogs, they are a market challenger, brand-oriented PR will be used
to disseminate and advertising. 1901 Hot Dogs needs to have a
professional campaign to communicate with the customers and gain
customers awareness, support and
loyalty............................................................................32
Mt khi mt cng ty thnh cng trong vic xc nh cc phn on trong mt th
trng, bc tip theo l nhm mc tiu cc phn on vi cc sn phm ph hp nht vi
nhu cu ca khch hng trong phn khc . Vic la chn ca khch hng tim nng m
doanh nghip mun bn sn phm hay dch v. Chin lc nhm mc tiu lin quan n
vic phn chia th trng, la chn cc phn on ca th trng l thch hp, v xc
nh cc sn phm s c cung cp trong mi phn khc. Mt doanh nghip cung cp
nhiu sn phm c th xc nh nu cc phn on khc nhau nn nhn c 1 sn phm
chung chung (nh trong tip th i chng), hoc nu mi phn khc s nhn c 1
sn phm ty bin (a-phn on), da trn s a dng ca th trng, trng thnh, mc
cnh tranh v khi lng bn hng d kin cng c gi l nhm mc tiu. C mt s mc
tiu chin lc, bao gm: - Niche / tp trung tip th - Thnh L / tip th
khng phn bit - Tip th phn bit / chn lc Trong trng hp ny, khi lng /
tip th khng phn bit l s la chn tt nht ca ti cho 1.901 con ch nng vo
th trng Vit Nam. Thnh L tip th l mt phm vi bo him th trng chin lc,
trong cng ty quyt nh b qua s khc bit phn khc th trng v i sau khi
ton b th trng vi mt li ngh. y l loi hnh tip th (hoc c gng bn thng
qua thuyt phc) ca mt sn phm cho mt i tng rng. tng l pht sng mt thng
ip rng s t s lng ngi ln nht c th. Theo truyn thng hng lot tip th tp
trung trn truyn hnh, i pht thanh v bo ch nh l phng tin c s dng tip
cn i tng rng. L do cho vic la chn chin lc ny nhm mc tiu l tip th i
chng l thch hp nht cho cc sn phm c gi c phi
7
chng v a dng trong thin nhin. Nhng bt li ca tip th thch hp trong
trng hp ny l tim nng cho doanh s bn hng tng trng v nn kinh t ca quy
m c th b gii hn, v s sng cn ca cng ty c th nh hng nghim trng nu
doanh s bn hng bt u gim. Tip th khc bit / chn lc s khng c la chn bi
v nhng nhc im chnh ca phng php ny bao gm s nhm ln gia cc khch hng
khi phi i mt vi hng chc nhn hiu v nn kinh t b mt ca quy m t chy sn
xut ngn hn v chi ph b sung phi qung co nhiu hn l mt thng hiu. Khch
hng cn nhiu nhng gi c phi chng.Nu sn phm l qu t, h vn khng th mua
cho n khi giai on sau. Vi tip th i chng nm 1901 Hot Dogs c th sn
xut trn quy m ln, m rng mt s lng ln ca chi nhnh, lm cho li nhun t
mc gi thp hn v gi c phi chng. Khi la chn cc phn on nhn khu hc v a
l, th trng bin ng cng l mt yu t khng th b qua. Ngi tiu dng Vit Nam
yu cu khc nhau th hiu, s thch v phn ng vi kch thch v hn hp tip th
khc. Theo nm 1901 Ch Hot cn to ra cc loi lin tc hn v nhiu hn na cc
mn n, thit lp ba n v mn trng ming cng p ng khch hng ca h. Cui cng,
chin lc tip th ca i th cnh tranh l mt yu t quan trng bn ngoi cng cn
c quan tm. C rt nhiu thng hiu ni ting hin c ti Vit Nam nh KFC, BBQ,
Lotteria, ... i vi mt lnh mi nh 1901 Hot Dogs, h l mt thch thc th
trng, theo nh hng thng hiu PR s c s dng ph bin v qung co. 1901 Ch
Hot cn c mt chin dch chuyn nghip giao tip vi khch hng v c khch hng
nng cao nhn thc, h tr v lng trung thnh......33 II(d)/ Explain how
buyer behavior affects marketing activities in two different buying
situations for 1901 Hot Dog in
Vietnam......................................................................................................................35
C.
CONCLUSION:............................................................................................................................................46
ENTERING INTO A NEW MARKET, 1901 HOT DOGS HAS MORE ADVANTAGES AND
OPPORTUNITIES AS A MARKET CHALLENGER . THIS REPORT IS CONDUCTED TO
SUPPORT FOR 1901 HOT DOGS IN ENTERING INTO VIETNAM MARKET TOWARD
PRACTICE OF MARKETING APPROACH . THERE ARE MANY CHARACTERISTICS ,
ELEMENTS , BENEFITS AND COSTS OF MARKETING CONCEPT NEEDED TO BE
CONCERNED BY 1901 HOT DOGS IN ORDER TO APPROACH VIETNAMESE MARKET.
FOCUSING ON THE POTENTIAL CUSTOMERS IN THE TARGET MARKET MIGHT HELP
1901 HOT DOGS BECOME THE MARKET LEADER OF THE VIETNAM FAST FOOD
MARKET IN THE
FUTURE...............................................................................46
BC CHN VO MT TH TRNG MI, 1901 CH NNG C LI TH HNV C HI NH L MT THCH
THC TH TRNG. BO CO NY C TIN HNH H TR CHO 1.901 CON CH NNG TRONG VIC
THAM GIA VO TH TRNG VIT NAM I VI THC HNH PHNG PHP TIP TH . C NHIU C
IM, CC YU T, LI CH V CHI PH CA KHI NIM TIP TH CNPHI C QUAN TM BI
1901 CH HOT TRONG TIP CN TH TRNG VIT NAM. TP TRUNG VO CC KHCH HNG
TIM NNG TRONG TH TRNG MC TIU C TH GIP 1901 CH HOT TR THNH NH LNH O
TH TRNG CA TH TRNG THC N NHANH VIT NAM TRONG TNG LAI . TIP TH L MT
KHU VC CC K QUAN TRNG CA CNG TY. I VI 1901CH HOT, MT PHNG PHP TIP
TH TI VIT NAM C CHI PH V LI CH. KHNG CH CH V M V CC YU T MI TRNG VI
M, CC NH TIP TH PHI PHN TCH CC TIU CH PHN KHC A CP. S HIU BIT R RNG
V QU TRNH MUA CNG RT HU CH CHO 1901 HOT DOGS TR THNH THNH CNG HN. M
RNG TH TRNG TI VIT NAM L MT QUYT NH QUAN TRNG V SNG SUT NM 1901 CH
NNG BI V VIT NAM L MT TH TRNG RTTIM NNG. NU THNH CNG TI TH TRNG VIT
NAM NM 1901 HOTDOGS C TH CN PHI XEM XT V A M RNG SANG CC NC NGNAM
....................47
REFERENCES....................................................................................................................................................48
MARKETING REPORT
A. INTRODUCTION:1901 Hot Dogs8
1901 Hotdog was found in July 1997 by two young Malaysian
entrepreneurs, Tengku Rozidar Abidin and her husband. 1901 offers
customers various kinds of American hot dogs like Texas Ted, Cheezy
Carbonara, Chicago Beef and the best seller New York chicken, etc.
The year 1997 experienced a serious financial crisis in Asia,
nevertheless, 9
Rozidar still invested most of her personal savings on her
business and seeked ways to improve 1901 (Malaysian Institute of
Management, 2006). Thanks to her endeavors and dedication, 1901 has
grown dramatically with over 70 outlets in Singapore and Malaysian
by 2007 (1901 Website, accessed 2011). The company now is the
leading hot dog fast food franchise brand in Malaysia based on the
influence of the western media that has sparked the success of the
fast food restaurant business in the country. The secret of 1901's
success lies on the flexible franchising system as well as a
well-executed branding strategy of the company (Zain, 2008).
Accordingly, this report attempts to examine the marketing
concepts, various environmental factors, segmentation, targeting
and positioning of the fast food restaurants in order to have a
deeper understanding about the marketing aspect of 1901. This
report recommends an overall best practice of marketing approach
for 1901 Hot Dogs Vietnam, including 2 parts following: - Part 1:
The basic concept of marketing. This part will mention about
various definitions of marketing; characteristic of a market
orientated organization; the elements of marketing concept; the
cost and benefit of marketing approach for 1901 Hot Dogs. - Part 2:
Segmentation, targeting and buyer behavior. This part provides
details information for 1901 Hot Dogs in respect to micro and macro
environmental factors; segmentation; targeting and buyer
behavior.
10
B. FINDINGS:
I. Part 1 The basic concept of marketingWe are living in a
dynamic world. Everything changes day by day, and marketing is not
an exception. Taking a look into the early days of marketing
(preceding the 1950s), it is just about how to sell more and more
products without understanding what customers wanted. During those
early days of many countries (Vietnam is an example), businesses
attacked the nations scarcity problem by embracing a production
philosophy or we can say sell-as-much-as-we-can philosophy.
However, since the 1950s, people discover a new marketing which
targeting to understand what customers need and want. All concepts,
theories, perspectives of the traditional marketing have changed
completely. All above information has led to a BIG question: What
is marketing?
I(a)/ Compare alternative definitions of marketing and explained
the importance of being a contemporary marketer.There are many
definitions of marketing in the world and each of them has its own
point of view. Marketing: Exchange relationship The simplest
definition of marketing is: Marketing is the management of exchange
relationship (Edexcel, 2004, p.7). This definition presents clearly
that everything including goods, service or even information could
be elements of marketing exchange. Accordingly, the relationships
between stakeholders (both internal and external) of organization
are managed especially when it relates to buyers/customers.
Managing well the exchange relationships will enhance the
reputation for organization towards both customers and the public.
Philip Kotler
11
Marketing is a social and managerial process by which
individuals and groups obtain what they need and want through
creating and exchanging products and value with others. Philip
Kotler (born 27 May 1931 in Chicago) was known as the father of
modern marketing. According to his definition, further than
exchange relationships, it shows clearly that the key factor to
success in marketing is satisfying customers need and want. The
Chartered Institute of Marketing ( CIM )
Identifying Marketing Anticipating Satisfying
Customer needsMutually beneficial exchange
Business objectives
Figure 1.1 Arriving at a definition of marketing (Edexcel 2004,
p.7) The management process responsible for identifying,
anticipating and satisfying customer requirements efficiently and
profitably. Looking more detail in this definition, identifying
equal find out the customers requirements. Obviously, the customers
requirements change all the time, today customers want and need
different things with tomorrow customers. Sometimes, far too much
than identifying, we have to predict what will be customers need
and want in the future also - that is anticipating. Otherwise, we
have to satisfy customer requirements efficiently and profitably.
It claims that we have to concern the main goal of our business
which called profit. It can not be denied that the customer want
the five rights of distribution, that is: right time, right place,
right product, right price and right quantity. Therefore,
successful marketing will improve the revenue of the organization
and get the customers satisfaction as well.
12
American Marketing Association (AMA) Definition (1985) Marketing
is the process of planning and executing the conception, pricing,
promotion, and distribution of ideas, goods, and services to create
exchanges that satisfy individually and organization goals. At this
time, AMA defines marketing differently with CIM. Not only
satisfying customers but also satisfying the company. The
connection between the customers and the organization are the
activities in providing the goods, service and information such as
pricing and promotion. This is the origin of marketing mix.
Basically, it is doing market research, then use the information
which are collected from the research to make plan, strategy. Then
producing and providing the goods or services that satisfy both
organization and customers. * The latest definition about marketing
of AMA is: Marketing is the activity, set of institutions, and
processes for creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners, and
society at large. (Approved October 2007) This definition covered
many previous definitions. Besides, the 2007 AMAs definition of
marketing also considers the whole society (society at large). To
sum up, my findings above have led me to my own core definition of
marketing: Marketing is a process of finding, shaping, creating and
preserving the relationship which can satisfy all stakeholders Back
to the question: Who will be the successful marketers in the
future, traditional marketers or contemporary marketers? As we have
known, it hardly can be denied that the world is changing day by
day, and nothing last forever. Accordingly, becoming a contemporary
marketer is indispensable. The modern customers want and need the
modern things, so the contemporary marketers have to improve and
innovate to meet the customers new requirements. For 1901 Hot Dogs,
understanding the trend of tasting fast food at the moment and
culture of Vietnamese is very important to plan the appropriate
strategy. Currently, Vietnam already has various famous fast foods
brand such as KFC, BBQ, Lotteria and so
13
on. These fast food restaurants have their own positions in the
minds of Vietnamese customers and acquire many loyal customers.
Therefore, 1901 Hot Dogs marketer have to keep in minds that it is
very important for them to be a contemporary marketer in Vietnam
because their competitors are relatively strong and they have the
excellent existing branches, financial strength and also many
brilliant marketing teams. It is suggested that 1901 Hotdogs should
make a specific marketing strategy for Vietnamese market, innovate
their products and build good relationships with not only the
customers but also other organizations to be recognized,
competitive and profitable. Vietnam will become a very potential
market of 1901 Hotdog for some of the following reasons. First,
some famous fast food restaurants such as KFC, BBQ, Lotteria
specialize in chicken-related dishes. They also offer hamburgers,
sandwiches or rice set but rarely serve hotdogs as their main menu.
Therefore, it is obvious that young Vietnamese customers who are
very open-minded and easy to absorb new things will be eager to try
the new menu from 1901 fast food restaurants. Secondly, Vietnamese
customers are interested in American styles, 1901 offers customers
various and delicious kinds of hotdogs in American styles; thus, it
is quite easy to attract them to go to the fast food restaurants.
Thirdly, due to many advantageous policies from Vietnamese
Government for encourage international and foreign companies to set
up business in Vietnam, 1901 will get benefits from less tax, easy
administrative procedures to open new businesses.
I(b)/ Identify the main characteristics of a market-orientated
organization for todays modern business.A product-orientated
organization has its primary focus on its product and on the
skills, knowledge and systems that support that product. On the
other hand, a marketorientated organization is one that organizes
its activities, products and services base on satisfying its
customers through meeting their need and want. So, what are main
characteristic of a market-orientated organization for todays
modern business? Havaldar (2010) stated that: Market-oriented
organization stay close to the customers and ahead of the
competitors. They understand the basic principle that the purpose
of business is to attract and satisfy customers at a profit
14
Kohli and Jaworski (1990) suggest that market orientations are
specific activities that translate the marketing concept philosophy
into practice. Concerning about the main characteristics of a
market-orientated organization, business should focus on the main
following things: customer orientation; responsiveness and
competitor focus. Generally, market orientation is regarded as the
implementation of the marketing concept. The marketing concept is a
philosophy of doing business, which puts the customers needs at the
centre of the organization. A market-orientated organization will
have a commitment to meeting the needs of customers. It means that
business decision making will be based on customer needs, wants and
demands. Nevertheless, there are various types of customers needs
and wants. Each customer has their own demand. It makes no sense
getting close to a customer because it does not help for other
customers with different needs. Shortly, companies can be market
oriented only if it completely understands its markets and the
people who decide whether to buy its products or services. For 1901
Hot Dogs in entering into Vietnam, despite the fact that Vietnam
and Malaysia have the same Eastern customs, each country has own
national character. Therefore, it is essential to understand
comprehensively and completely about Vietnamese different cultures
as well as Vietnamese buying habit and Vietnamese tasting also. It
is evidence that being market oriented means to see things through
the customers eyes. This does not necessarily mean to make an
incredible product but rather solve the problems that the customer
is facing. If a company can study its customers needs and purchase
behaviors, then a good marketing strategy can be implemented to
meet the customers needs. A successful market oriented company will
have a good understanding of its customers needs and how they will
go about meeting those needs. A market-orientated organization will
also set up the right structures and process to achieve the aim of
satisfying the needs and wants of customers. All activities must be
coordinated effectively towards the common goal of satisfying
customers. There is no doubt that the interaction with other
functional department of marketing department is very important.
The responsiveness also performs by disseminating of information
pertaining to customer across the functional departments with the
view to meet customer needs quickly by having effective
inter-functional coordination of the concern departments.
15
Kohli and Jaworski (1990) described market orientation as the
ability of an organization to generate, disseminate and use
superior information about customers and competitors. Customers
nowadays become more and more knowledgeable so they require better
quality. To compete successfully, businesses need to be more
sensitive and sympathetic to their customers. Measuring customer
satisfaction in connection with customer loyalty the willingness to
pay from the same company is an important tool to improve the
competitiveness of company. Retaining customers have a significant
positive impact on profitability of company. This reflects the
needs of retaining customer and develops long-term
relationship.
I(c)/ Identify the elements of marketing concept and explain its
important to 1901 Hot Dogs.According to Levitt (2006) the main
difference between selling and marketing is that marketing focuses
on the needs of the buyer meanwhile selling mainly concern about
the needs of the seller. Satisfying the needs of customers by
creating, delivering and persuading them to buy company's products
is the main aim of marketing. In contrast, selling goes along with
the seller's need to convert his product into cash.
Marketing concept vs. selling concept (Jain, Khanna, Grover and
Singla, 2007).
16
Marketing concept consists of many elements such as needs, wants
and demands; products and services; value satisfaction and quality;
exchange, transaction and relationship; market (Kotler, 2006).
Needs, wants and demands Perceiving deprivation is the root of
human needs. Human need is the most basic concept underlying
marketing. Understanding the human needs is a basic requirement of
successful marketing. There are various human needs such as: -
Physical needs: food, water, clothing - Individual needs:
knowledge, self-expression - Social needs: belonging, relaxation,
affection Needs become wants when people know exactly the objects
which might satisfy their needs. Wants are shaped by culture and
individual personality. In another word, wants are how people
communicate their needs. For example, the elderly need a phone but
they want a cell-phone which has a big keypad and loud volume.
Demands are wants for specific products and willing to pay based on
affordability. Understand the various marketing concepts, 1901 will
know for what reasons Vietnamese customers come to their
restaurants. Apart from the physical needs like food, they really
want a place where they can go with their friends not only to eat
out and relax but also to express themselves as fashionable and
energetic. Based on that, 1901 marketers can design the dishes and
pay their concentration on designing of the infrastructure to
satisfy their customers demands. Products and services Normally, a
product is thing which can be offered to satisfy a need or want.
Today, the living standard of Vietnamese people is improving
substantially. Thus, in order to successfully enter Vietnamese
market, 1901 ought to research about taste, requirements and
demands of Vietnamese people in terms of fast food and then produce
the appropriate products to satisfy those requirements. For
instance, some of the set menus of 1901 such as Topping bar set,
hot deal meal are very suitable for Vietnamese young peoples style
because they are very yummy and nutritious. It is suggested that
1901 Hot Dogs not only 17
can develop the existing menus but also adapt the taste to meet
the Vietnamese customers demands. Apart from product, service is
also a very important part to attract Vietnamese customers.
Customers normally concern about the level of cleanliness, the
attitude of staff, and the infrastructure of the restaurant. 1901
Hot Dogs need to pay concentrate on their service aspect to not
only attract customers but also encourage them to become loyal. The
benefits of acquiring loyal customers cannot be denied. Value
satisfaction and quality The question is that how do customers make
their choice in many products and what they should buy while there
are various products out there? Customers satisfactions depend on a
product's perceived performance in delivering value relative to a
buyer's expectation. If the customers of 1901 Hotdogs are not
satisfied with the products or service, they certainly will look
for other dishes which can satisfy them. Customers satisfaction is
also linked closely to quality. Quality has a direct impact on
product performance, and hence on customer satisfaction. Satisfied
customers of 1901 Hotdogs will become loyal customers; they will
not only repeat buying but also use words of mouth to tell other
Vietnamese customers about the brand new fast food restaurants in
Vietnam. 1901 Hotdogs may probably obtain new customers from that.
Exchange, transaction and relationship Exchange marketing occurs
when people decide to satisfy needs and wants through exchange. As
being mentioned, exchange the core of marketing involves obtaining
a desired product from someone by offering something in return. For
an exchange to take place, several conditions must be satisfied. Of
course, at least two parties must participate and each must have
something of value to offer the other. Each party must also want to
deal with the other party and each must be free to accept or reject
the other's offer. Finally, each party must be able to communicate
and deliver. A transaction is marketing's unit of measurement. This
is a classic monetary transaction, but not all transactions involve
money. In a barter transaction, you might trade your old
refrigerator in return for a neighbors second-hand television set.
Transaction marketing is part of the larger idea of relationship
marketing. If 1901 Hotdogs marketer want to become smart marketers,
they
18
need to work at building long-term relationships with valued
customers, distributors, dealers and suppliers. Increasingly,
marketing is shifting from trying to maximize the profit on each
individual transaction to maximizing mutually beneficial
relationships with consumers and other parties. For example, 1901
may cooperate with a toy company to include toys in their menu set
for children. Children are very easy to be attracted by a special
delicious set designed only for them and included interesting toys
in the meal set. Hence, both 1901 Hotdogs and the toy company have
benefits and profits altogether. Market The concept of transaction
has led to the concept of a market. Market existed as soon as goods
started to be exchanged. Originally, the term market stood for the
place where buyers and sellers gathered to exchange their goods.
Marketers, however, see the sellers as constituting an industry and
the buyers as constituting a market. As stated above, Vietnam
currently is a relatively potential market for 1901 to enter and
set up business, thus 1901 Hotdogs need to use their opportunities
to maximize their profits.
19
I(d)/ Identify and assess the benefits and costs of a marketing
approach for 1901 Hot Dogs in Vietnam.Certainly, Vietnam is a
potential market for 1901 Hot Dogs. Understanding the costs and
benefits are very essential for the managements of 1901 Hot Dogs.
The vision in the future will helpful to make an appropriate
strategic planning of marketing. The costs of marketing approach
for 1901 Hot Dogs are mainly from doing research in Vietnam to
understand deeply macro/micro environment; identify customers need;
customer behavior and expectation. The first benefit of 1901
Hotdogs when the company implements a marketing approach is that
they successfully enter Vietnamese market. Identifying the
customers need, 1901 Hot Dogs needs a market research department.
The good result of the research will enable 1901 Hot Dogs to find a
product that tailor to the need of customer. On the other hand, the
market-led company can keep ahead of the competition. This is the
first time 1901 Hot Dogs entering the Vietnamese market, they need
to spend time to conduct a qualitative market research to determine
who are their customers and understand the way to satisfy them.
However, the marketer at 1901
20
Hotdogs needs to achieve their organizational objectives which
are maximizing profits, mission, vision and value along with
opening new business in Vietnam. Besides various benefits of a
marketing approach, there are many costs for a market research.
First of all, carrying out a market research will cost the
organization a huge amount of money and human resources even though
the salaries for workers in Vietnam are relatively low. If 1901 Hot
Dogs can not anticipate the customer needs and supply the product
that doesnt satisfy those needs, it will be a serious problem. It
leads to time consuming and money to pay for the employees.
Conversely, even the market research has a good result, it will
take time to introduce and distribute them to the market. It costs
much time and money, especially in advertising campaigns for
approaching new market through television, internet, poster,
magazine, newspaper and so on. Besides, building rental or
employees also need to be concerned. Some of preferential policies
such as free packaging, discount policy may reduce profit of
company in short term, but it brings highly efficient in long term.
Because it not only builds a good relationship with customers but
also increase the competitive advantages with the existing
competitors in Vietnamese market. Apart from costs, marketers of
1901 Hotdogs should manage all the risks related to opening a new
business in Vietnam such as they fail to design an appropriate
marketing approach which costs a relatively big amount of money for
the company or they are unable to make profits in Vietnamese market
or profit margin is low due to high inflation in Vietnam.
Therefore, marketer of 1901 needs to bear in mind the importance of
strategic market intelligence, planning, implementation and control
of business and marketing strategies to achieve their objectives
which are capturing marketing shares and maximizing profitability.
Vietnam population has approximately 86 million; economic growth
rate has rapid increase leads to the higher standard of living.
This makes a great number of customers for 1901 Hot Dogs in
expanding in Vietnam. Customer focus, customer delight and customer
loyalty are clearly benefits in the successful approach of
marketing for 1901 Hot Dogs. Customer focus seems like Customer
guiding that is to point for company make great efforts to know
what clear customers needs are. Without customer, there is no
business. Meeting the needs of the customers more effectively than
competitors is the key to continued profitable existence for any
business. Customer delight or customer 21
satisfaction is the route for 1901 Hot Dogs long-term
sustainable competitive advantages, because the delight of the
customer measures and determines that a product or service exceeds
a customers expectation, considering requirements of both quality
and service. Good marketing approach helps reduce the
dissatisfaction of customers. Finally, no research can alter the
fickle nature of the average customers, todays products can become
tomorrows throwaways. Having a strategic planning is the next step.
This step will enable managers to think through the possible range
of future changes, and hence, be better prepared to meet the
changes that actually occur. It also costs the organization money,
time and human resources. After that, 1901 Hot Dogs needs to have a
marketing mix, the 4Ps 1 to introduce the product to the market.
They are product, price, place and promotion which will lead to
financial cost, trained staff and effort. Using a marketing
approach, the organization should not only satisfy the customer
needs efficiently, but also maintain this satisfaction by means of
offering organization-wide commitment in services and after-sales
support. Even though it takes time and money, the organization can
build long term relationships and create customer value which will
form a positive image of them in the customer minds. After that,
they can have a huge benefit from the customers. For instant,
customers will come back to buy the product more than one time or
buy another product of the organization or introduce to their
friends. Most of the organizations direct to the loyalty of
customers. Some of the evidence shows that a 5 % increase in
customer retention can increase total company operating profits by
50 %. On the other hand, the business will be a success if the
organization can have a long term relationships with high customer
satisfaction. In conclusion, marketing approach may have some
costs. However, for great benefits above, it ensures the success of
1901 Hot Dogs in Vietnamese market. The detail of 1901 Hot Dogs
marketing planning will be presented in the next part.
II. Part 2
1
4Ps in marketing mix: price, product, place and promotion.
22
Segmentation, Targeting and buyer behaviorII(a)/ Identify and
explain macro and micro environmental factors which influence
marketing decisions affecting 1901 Hot Dogs in Vietnam. A. The
micro environmentThe micro environment includes factors which are
directly relevant and influence the development of marketing
strategy are consumer trend, company, suppliers and competitors. 1/
Consumer trend First, consumer trend is about convenience, variety
and comfort; consumer pay for nice environment and air-conditioning
as well the feel good factor. The trend of tasting foreign fast
food has become more and more popular because of three factors.
Firstly, the higher level income of Vietnamese people results in
the trend of using foreign fast food. Since taking part in WTO,
Vietnam economy has growth up rapidly. It means more Vietnamese
people can afford 1901 Hot Dogs products and services. Second, the
economy growth has led to the lack of cooking time. People who work
in the office put their choice on fast food because of its
convenience. The last factor is that people want to show off their
wealth and status. Take some examples such as KFC, BBQ or Lotteria,
all of these fast food brands serve their product in nice view
restaurants. People not only need food for their stomach but also
need food for their eyes. 1901 Hot Dogs need to understand this to
compete with the existing competitors. Besides, concerning about
frequent shopper card and VIP card is very important. Pepperonis
pizza2 restaurants provide a card for the customers who consume
their product frequently. After consuming 12 times (with the cost
of each time is greater than 80.000vnd), consumers are provide a
full 12-ticked card and this card equal a meal which pricing
120.000vnd.2
Pepperonis pizza: establish in 1996, already has 7 branches in
Hanoi, serving pizza and pasta.
23
2/ Suppliers Supplying aspect concerns with sourcing local
suppliers to manage costs efficiently. In the long term, suppliers
force a strong impact to 1901 Hot Dogs in building infrastructure
and manufacturing industry. All businesses require input such as
raw material, labor force and so on. The costs of input affect
directly on the profit of company. Overall, the salaries for
Vietnamese workers are relative low (about 1.6 million VND), the
total labor force reach 47.743 millions (General Statistics Office,
2009). It is suggested that Vietnam has abundant labor resources.
In addition, the raw material is always available and fairly cheap.
As a result, 1901 Hot Dogs will have favorable conditions in
entering Vietnamese market. 3/ Company First, it is suggested that
1901 should establish a new team and training will be made to
maximize efficiency, quality and satisfaction of customer
perception and expectations. To summarize the environmental audit
and present the current status of a business, people use SWOT
analysis. SWOT stand for: Strengths, Weaknesses, Opportunities and
Threats. All of these were emerged from the process of examining
the micro and macro environment:
Internal Environment scan External
Strengths Weaknesses
Opportunities
24
Threats
SWOT analysis STRENGTHS Friendly, cheerful staff Competitive
prices Relaxed atmosphere Beautiful decoration Good services
Various kinds of dishes and drinks OPPORTUNITIES Widen age of
customers Increase customers satisfaction THREATS Increase
competition by local WEAKNESSES Not famous branding
restaurants and cafes Lack of customers brand awareness Lose
customers for competitors
4/ Competitors
25
As being mentioned, there is a variety of systematic fast food
chains such as KFC, Lotteria, BBQ, 99 poultry etc. The fast food
market in Vietnam has been very competitive and become saturated
because it is estimated that there are approximately 80 KFC
restaurants, 40 Lotteria restaurants and 15 BBQ restaurants in
Vietnam currently. In terms of marketing activities, 1901 Hot Dogs
competitors have done a lot of advertising, sales promotion and
value-added services for their restaurants as well as price
competition. Managers of 1901 Hot Dogs should find out more about
the competitors strategies, their strengths and weaknesses, their
market share and so on. Succeed to do that, the restaurant will
find the way to attract customers to switch their tastes from
competitors dishes to 1901 Hot Dogs dishes and get high profit.
B. The macro environmentThe PEST analysis will be discussed
which include the Political, Economic, Social and Technology. 1/
Political First of all, Vietnam has a very stable politics. It is
the key factor which helps Vietnam to enjoy peace and prosperity in
the economy for many years. Obviously, political stability gives
the most favorable condition for 1901 Hot Dogs in entering and
expanding in Vietnam. However, everything has its two sides. It is
not only a chance but also a challenge for the companies which tend
to enter the Vietnam market because of the business law. Vietnam
government promulgates this Law to protect the individual citizens
from unfair trade, work abuse and protect the environment also. The
politics requires organizations to have waste treatment system to
protect the environment. In addition, as stated above, Vietnamese
government encourages foreign investment and international
organizations to enter Vietnam by reducing tax, lessen complicated
procedures and assist them in acquiring land and infrastructure
system. 1901 Hot Dogs might get benefits from the tax exemption in
1 or 2 years. 1901 may probably not make profits these years but
they can build and expand their infrastructure, distribution
channels and their brand.
26
2/ Economic a/ Overview of Vietnam economic after i mi In the
4th Congress of Vietnam Communist Party (1986), the i mi policy was
proposed with the aim of improving living standards and encouraging
foreign investment. i mi has made the Vietnam economic become more
open and integration with the world economy. During the early
1990s, enhanced institutional support and steadily improving
infrastructure made Vietnams growth rate one of the highest in the
region. Vietnam is among the fastest-growing economies in Asia,
with a consistently high GDP growth rate of around 8% in recent
years. This growth brought impressive gains in incomes and in the
lifes quality of the Vietnamese people. The middle income group is
expanding increasingly currently. In addition to this, Vietnamese
disposable income of Vietnamese people is improving. Thanks to
those improvements, Vietnamese people have more budgets to satisfy
some of their habits such as to eat out at restaurants and 1901
Hotdogs can acquire new customers from the middle income group b/
Status of Vietnam economic in 2010 In 2011, the Vietnam economic
substantial recovers. GDP increased by 5.89% compared to 6.87% in
2009. 2010 Total Agriculture, fishery Industry and construction
Services 7.7% 7.34% 5.53% 7.34% forestry 6.78% and 2.78% 2011 5.89%
4%
Growth rate of gross domestic product price comparison In
addition, CPI growth rate in 2011 is 18.13%. Vietnam is potential
market for foreign investors. Economic growth, easing inflation and
increasing average income are good signal for 1901 Hot Dogs. It is
indicated that the standard of living in Vietnam is
27
improved considerately. People respect to the spiritual value
and the products of 1901 Hot Dogs can satisfy this. 3/
Social-culture The Vietnamese people believed that the more you
pay, the better you get. According to Grey Eye on Asians report,
77% Vietnamese consumers prefer foreign brands compared with 30% of
Asia. Vietnamese consumers highly appreciate the international
brands, so it is an advantage for foreign company offered products
in American styles like 1901 Hot Dogs. Despite the government
promotion of domestic products in recent years, Vietnamese
preference for foreign products is not going to change soon.
Moreover, if 1901 Hot Dogs serves a good product and service, the
positive image of company will be promoted rapidly by the word of
mouth. 4/ Technological Nowadays, the booming of technology
especial internet has played an important role in disseminating and
advertising. The development of social networks like Facebook,
Twitter, my space distributed to promote advertisements. Therefore,
1901 Hot Dogs can use this advantage to apply the e-marketing
strategies. Besides that, technology also helps 1901 Hotdogs to
prepare hygienic foods and consistency in taste to deliver to their
customers. Furthermore, it also assists 1901 staff to keep their
infrastructure and facilities clean by using dishes wash machines,
kitchen-related machines, ozone cleansing machine, etc.
II(b)/ Propose segmentation criteria to be used for 1901 Hot
Dogs in two different markets in Vietnam.It is believed that an
organization cannot satisfy all the customers need and want. It
wastes a lot of time and money to satisfy all customers and it is
unnecessary. According to my understand, segmentation, simply a
process of dividing a market into sections, which have common
characteristic, behavior and so on. There are two factors need to
be
28
considered when selecting a target market segment are the
captivation of the segment and its appropriate for the companies
goals, objectives, resources and capabilities. There are many ways
to segment the market. In this case, I only focus on 2 main base
segmentations of Vietnamese market: geographic and demographic. 1/
Demographic Some demographic segmentation variables include:
Age Gender Family size Family lifecycle Income Occupation
Education Ethnicity Religion Social class Among these above
factors, age and income are considered to be the two most
important factors. Firstly, the consumers age can be divided
into 3 areas: children, teenager and adult. For the children, 1901
Hot Dogs can set a children menu for them which is small and
suitable portion for a child, attractive and various meals.
Besides, applying some event such as offering them a gift after
consuming 2 or 3 times the children set. For the teenagers, they
prefer a big and enough nutrition set meal. However, it is hoped
that 1901 Hot Dogs can serve them a big meal with an appropriate
price, because their main income comes from their parents. 1901 Hot
Dogs should focus strongly on this area because they are the
biggest area compared to 2 others areas. As we have known, teenage
is the period of time we need to consume enough nutrition (2500
calories/day for girl and 2900 calories/day for boy). Obviously,
they put their choice on fast food not only because of its
delicious but also because they find it very interesting and proud
when their friends see them eating in a nice view fast food
restaurant. Therefore, satisfying teenagers is very important for
1901 Hot Dogs. The last area is the adult people which are already
have income and lack of time for cooking. 1901 Hot Dogs need to
consider about the quality, not about the quantity in this area.
The women maintain their physical appearance very
29
carefully. Thus, the sets meal for the adult people should
provide not only protein, starch but also adequate vitamin. Income
is considered as an important factor also. It can be seen clearly
that the urban residents have the highest income compared to other
areas. However, to consume fast food frequently require the average
income more than 500 USD. So the people who have the average income
more than 500 USD will be the target of 1901 Hot Dogs. Because a
regular deal is priced at 6.5RM (about 45.000vnd) and a regular
orange juice/ lemon tea is priced at 2.20RM (about 15.000vnd).
Thus, going to 1901 Hot Dogs for a meal may cost Vietnamese people
about 60.000vnd, required medium level and high level income.
Paying that level for a meal, the customers demand 1901 Hot Dogs
serve them a good service such as fast delivery service,
cleanliness and good serving attitude. 2/ Geographic The following
are some examples of geographic variables often used in
segmentation:
Region: by continent, country, state, or even neighborhood Size
of metropolitan area: segmented according to size of population
Population density: often classified as urban, suburban, or rural
Climate: according to weather patterns common to certain geographic
regions Vietnam has a rapid population growth; the average growth
rate of Vietnam's
population is 2.23 %. The population of Vietnam is large enough
to make it second most populous country in the South-East Asia,
seventh in the Asia-Pacific region and the 12th most populous in
the world-list. It is suggested that Vietnam is a big and potential
market for 1901 Hot Dogs. As being mentioned in the previous part,
income is one of the most important factor, so the two biggest
cities: Hanoi and Ho Chi Minh (representing for North and South)
should be concerned to be the two main markets. The reason for
dividing into 2 markets (North and South) is that the cuisine
culture of each region has its own features. The Northern cuisine
is not strong spicy, fatty and sweet as other regions. They mainly
use diluted fish sauce, more vegetables and other fresh seafood
readily available such as shrimp, crab, fish, clams, mussels,
etc.
30
Generally, because of the ancient tradition with poor
agriculture, Northern food in the past did not prevalent the main
dish with raw material are meat and fish. Many people highly
appreciated Hanoi culinary, they indicated that Hanoi culinary
represents for the essence of the typical North cuisine. However,
the Southern cuisine which was influence strongly of Chinese,
Cambodia and Thailand food, have the main characteristic is that
often use sugar and coconut essence. Southern cuisine also used
more seafood (in salt groundwater and brackish groundwater) than
the Northern. Understanding those cultures, 1901 Hot Dogs needs to
pay attention to process the appropriate meal for each region. For
example, 1901 Hot Dogs should serve more sweet spicy and chilly
sauce for the existing meals in the Southern. On the other hand,
1901 Hot Dogs might have to create and serve some dishes which are
less sweet and bitter for the Northern.
II(c)/ Outline the factors which influence the choice of
targeting strategy for 1901 Hot Dog in VietnamOnce a firm has
successfully identified the segments within a market, the next step
is to target these segments with products that closely match the
needs of the customers within that segment. The selection of
potential customers to whom a business wishes to sell products or
services. The targeting strategy involves segmenting the market,
choosing which segments of the market are appropriate, and
determining the products that will be offered in each segment. A
business offering multiple products can determine if the various
segments should receive one generic product (such as in mass
marketing), or if each segment should receive a customized product
(multi-segment), based upon the market's diversity, maturity, the
level of competition and the volume of sales expected also called
targeting. There are a number of targeting strategies, including:
Niche/concentration marketing Mass/undifferentiated marketing
Differentiated/selective marketing
31
In this case, mass/undifferentiated marketing is my best choice
for 1901 Hot Dogs in entering the Vietnam market. Mass marketing is
a market coverage strategy in which a firm decides to ignore market
segment differences and go after the whole market with one offer.
It is type of marketing (or attempting to sell through persuasion)
of a product to a wide audience. The idea is to broadcast a message
that will reach the largest number of people possible.
Traditionally mass marketing has focused on radio, television and
newspapers as the medium used to reach this broad audience. The
reason for choosing this targeting strategy is that mass marketing
is most suitable for products which are affordable and variety in
nature. The disadvantage of niche marketing in this case is that
the potential for sales growth and economies of scale may be
limited, and the survival of the firm may be seriously affected if
sales begin to decline. The differentiated/ selective marketing
will not be chosen because the main disadvantages of this approach
include confusion amongst customers when faced with dozens of
brands and lost economies of scale from shorter production runs and
the additional costs of having to advertise several rather than one
brand. Customers need variety yet affordable. If the product is too
expensive, they are still unable to buy until later stage. With
mass marketing, 1901 Hot Dogs can produce on a large scale,
expanding a huge number of branches, making profit from the lower
and affordable price. As selecting the demographic and geographic
segmentation, market variability is also a factor that can not be
ignored. The Vietnamese consumers demand differently tastes,
preferences and reactions to stimulus and other marketing mixes.
Accordingly, 1901 Hot Dogs need to create constantly more and more
types of dishes, set meal and dessert also to satisfy their
customers. Finally, competitors marketing strategies is an
important external factor should be concerned also. There are many
existing famous brands in Vietnam such KFC, BBQ, Lotteria, etc. For
a new comer like 1901 Hot Dogs, they are a market challenger,
brandoriented PR will be used to disseminate and advertising. 1901
Hot Dogs needs to have a professional campaign to communicate with
the customers and gain customers awareness, support and
loyalty.
32
Mt khi mt cng ty thnh cng trong vic xc nh cc phn on trong mt th
trng, bc tip theo l nhm mc tiu cc phn on vi cc sn phm ph hp nht vi
nhu cu ca khch hng trong phn khc . Vic la chn ca khch hng tim nng m
doanh nghip mun bn sn phm hay dch v. Chin lc nhm mc tiu lin quan n
vic phn chia th trng, la chn cc phn on ca th trng l thch hp, v xc
nh cc sn phm s c cung cp trong mi phn khc. Mt doanh nghip cung cp
nhiu sn phm c th xc nh nu cc phn on khc nhau nn nhn c 1 sn phm
chung chung (nh trong tip th i chng), hoc nu mi phn khc s nhn c 1
sn phm ty bin (a-phn on), da trn s a dng ca th trng, trng thnh, mc
cnh tranh v khi lng bn hng d kin cng c gi l nhm mc tiu. C mt s mc
tiu chin lc, Niche Thnh Tip L th / / tip phn bao tp th bit trung
khng / tip phn chn gm: th bit lc
Trong trng hp ny, khi lng / tip th khng phn bit l s la chn tt
nht ca ti cho 1.901 con ch nng vo th trng Vit Nam. Thnh L tip th l
mt phm vi bo him th trng chin lc, trong cng ty quyt nh b qua s khc
bit phn khc th trng v i sau khi ton b th trng vi mt li ngh. y l loi
hnh tip th (hoc c gng bn thng qua thuyt phc) ca mt sn phm cho mt i
tng rng. tng l pht sng mt thng ip rng s t s lng ngi ln nht c th.
Theo truyn
33
thng hng lot tip th tp trung trn truyn hnh, i pht thanh v bo ch
nh l phng tin c s dng tip cn i tng rng. L do cho vic la chn chin lc
ny nhm mc tiu l tip th i chng l thch hp nht cho cc sn phm c gi c
phi chng v a dng trong thin nhin. Nhng bt li ca tip th thch hp
trong trng hp ny l tim nng cho doanh s bn hng tng trng v nn kinh t
ca quy m c th b gii hn, v s sng cn ca cng ty c th nh hng nghim trng
nu doanh s bn hng bt u gim. Tip th khc bit / chn lc s khng c la chn
bi v nhng nhc im chnh ca phng php ny bao gm s nhm ln gia cc khch
hng khi phi i mt vi hng chc nhn hiu v nn kinh t b mt ca quy m t chy
sn xut ngn hn v chi ph b sung phi qung co nhiu hn l mt thng hiu.
Khch hng cn nhiu nhng gi c phi chng.Nu sn phm l qu t, h vn khng th
mua cho n khi giai on sau. Vi tip th i chng nm 1901 Hot Dogs c th
sn xut trn quy m ln, m rng mt s lng ln ca chi nhnh, lm cho li nhun
t mc gi thp hn v gi c phi chng. Khi la chn cc phn on nhn khu hc v a
l, th trng bin ng cng l mt yu t khng th b qua. Ngi tiu dng Vit Nam
yu cu khc nhau th hiu, s thch v phn ng vi kch thch v hn hp tip th
khc. Theo nm 1901 Ch Hot cn to ra cc loi lin tc hn v nhiu hn na cc
mn n, thit lp ba n v mn trng ming cng p ng khch hng ca h. Cui cng,
chin lc tip th ca i th cnh tranh l mt
34
yu t quan trng bn ngoi cng cn c quan tm. C rt nhiu thng hiu ni
ting hin c ti Vit Nam nh KFC, BBQ, Lotteria, ... i vi mt lnh mi nh
1901 Hot Dogs, h l mt thch thc th trng, theo nh hng thng hiu PR s c
s dng ph bin v qung co. 1901 Ch Hot cn c mt chin dch chuyn nghip
giao tip vi khch hng v c khch hng nng cao nhn thc, h tr v lng trung
thnh.
II(d)/ Explain how buyer behavior affects marketing activities
in two different buying situations for 1901 Hot Dog in Vietnam
In addition to understanding the needs of the customers, 1901
Hot Dogs also need to understand what motivates them to purchase,
and how can influence the buying process to ensure that 1901 Hot
Dogs products or services are their main fast food restaurant.
Understanding customers will help company to develop and distribute
product, as well as getting the right price point and developing
successful promotional activities. The knowledge of buying process
can help company become more successful. A. B2C Business to
Consumers 1/ Types of Buying Behavior There are four types of
Buying Behavior as the following picture:
35
4 types of buying behavior Variety-seeking buying behavior is
characterized by low consumer involvement but significant
differences in brands. Customers try to use different brands of
such products because they want to check variety of products. This
is the reason that most of the consumers do a lot of brand
switching in case of variety-seeking buying behavior. It can be
said that the target customers of 1901 Hotdogs are actually
consumers. Understanding such circumstances, 1901 Hot Dogs should
apply different strategies to attract the customers such as
offering products at low prices, providing free sample and special
discounts. 1901 Hotdogs will have many kinds of customers ranging
from children, teenage, young adults, parents, elderly, officer,
working people and so on. So, it can be thought of two different
buying situations for 1901 to understand their customers behaviors
and design appropriate marketing strategy and promotions to attract
them. They are the segment for working people and the segment for
children.
2/ Consumer Buying Process Consumer buying process has five:
36
Consumer buying process a. Need recognition and problem
awareness Need and want can be arisen by internal factors such as
customers want to eat to survive; external factors like suggestion
by word of mouth by other customers. 1901 Hot Dogs need to research
their consumers to find out what kinds of need or problem arise,
what brought them about and how they led the consumer to this
particular product and then develop marketing programs that involve
these reasons. This is often initiated by PR coverage, including
word of mouth. The customer may have seen a friend or celebrity
using a product or service, or awareness may attracted by
advertising. In terms of segment for working people, there are not
many restaurants offer simultaneously hygienic foods at cheap
prices for working people. They either serve foods not following
hygienic foods standards at cheap prices or hygienic foods at
relatively expensive prices. Therefore, if 1901 Hotdogs can offer
set menu for working people at affordable prices, the sales may
probably increase dramatically. Besides that, with respect to
children segment, children often desire toys included in their
dishes, or dishes with nice decoration. Understand that,
37
1901 Hotdogs may shake hands with some toys companies and offer
children not only delicious dishes but also toys of some cute
cartoon characters. Children are also interested in celebrating
their birthday parties at fast food restaurants. KFC are currently
offering their little customers various services of celebrating a
birthday party such as MC, birthday facilities, toys and dishes at
a very suitable price. 1901 Hotdogs can learn from this model to
compete with their competitor and satisfy their little customers
needs.
a.Cn cng
nhn
v nhn
thc vn
Cn v mun c th c pht sinh bi cc yu t ni b chng hn nh khch hng mun
n tn ti, yu t bn ngoi nh gi ca "truyn ming" ca cc khch hng khc.
1901 Ch Hot cnnghin cu ngi tiu dng ca h tm ra nhng loi nhu cuhoc cc
vn pht sinh, a chng v v lm th no h dnngi tiu dng sn phm ny c th v
sau pht trin ccchng trnh tip th c lin quan n nhng l do ny. iu ny
thng c khi xng bi PR bo him, bao gm c truyn ming. Cc khch hng c th
nhn thy mt ngi bn hocngi ni ting bng cch s dng mt sn phm hay dch nh
gi v,hoc nhn phn hng cung nhng thc c khc dnh cpthc ngi lm th thu
cho phm hp vic. H ht ngi v hoc bi qung co. Trong iu khon ca lm,
khng c nhiu sinh ng thi vi r cho
l phc v thc phm khng tun theo cc tiu chunv sinh thc phm vi gi r
hoc v sinh thc phm mc gitng i t. V vy, nu nm 1901 Hotdogs c th cung
cp trnhn thit lp cho nhng ngi lm vic vi gi c phi chng,doanh s bn
hng c th c th lm tng ng k. Bn cnh ,i vi tr em phn on, tr em thng
mong mun chi bao gm trong cc mn n ca h, hoc cc mn ch mn n trang n
tr p. Hiu cn l rng, nm mt 1901 Hotdogs c th "bt tay" vi mt s cng ty
chi v cung cp cho tr em khng ngon m38
chi ca
s nhn vt hot hnh d thng. Tr em cng quan tm n n mng tic sinh nht
ca h ti cc nh hng thc n nhanh. KFC hin ang cung cp cho khch hng ca
h t cc dchv khc nhau k nim mt ba tic sinh nht chng hn nh MC, cs
sinh nht, chi v cc mn n mt mc gi rt ph hp.1.901 Hotdogs c th hc hi
t m hnh ny cnh tranh vi i th cnh tranh ca h v p ng nhu cu ca khch
hng nh ca h.b. Information search A customer can obtain information
from several sources: Personal sources: family, friends, neighbors,
etc Commercial sources: advertising; salespeople; retailers;
dealers; packaging; pointof-sale displays Public sources:
newspapers, radio, television, consumer organizations; specialist
magazines Experiential sources: handling, examining, using the
product The challenge for the marketing team is to identify which
information sources are most influential in their target markets.
The marketers should identify consumers sources and evaluate its
importance. Consumers gather most information from commercial
sources marketer can be controlled; while consumers consider
personal sources is the most effective impact directly in making
decision of customers. Advertising and PR are still important but
packaging and product displays play a role. Customers find videos
and brochures are useful. Word of mouth is still very important.
For attracting working people segment, perhaps newspapers, radio,
television and word of mouth are the most effective way for them to
obtain. 1901 can advertise their products through some famous and
familiar newspapers to working people such as The Labours, The New
Hanoi, etc or advertise on TV in some pick hours or after Filming
program. In terms of children segment, 1901 Hotdogs can distribute
nice and interesting leaflets to parents and to children when they
come to the restaurants to eat or in front of many primary and
secondary schools. They also can choose to advertise on TV between
some Cartoon Programs to capture the attention of children and
their parents.
39
Mt khch hng c th c c thng tin t nhiu ngun khc nhau: cc ngun c
nhn: gia nh, bn b, hng xm, vv ngun thng mi: qung co, nhn vin bn
hng, cc nh bn l, i l, bao b; mn hnh point-of-bn ngun cng cng: bo
ch, i pht thanh, truyn hnh, t chcngi tiu dng; chuyn gia tp ch tri
nghim cc ngun: x l, kim tra, s dng sn phm Thch thc i vi i ng tip th
l xc nh c ngun thng tinc nh hng nht trong th trng mc tiu ca h. Cc
nh tip th cn xc nh cc ngun ca ngi tiu dng v nh gi tm quan trng ca
n. Ngi tiu dng thu thp thng tin t cc ngunthng mi - nh tip th c th c
kim sot, trong khi ngi tiu dng xem xt cc ngun c nhn l hiu qu nht tc
ng trc tip trong vic a ra quyt nh ca khch hng. Qung co v PRvn cn
quan trng nhng bao b v sn phm hin th ng mt vaitr. Khch hng tm thy
video v ti liu hu ch. Li ni vn cn rtquan trng. thu ht nhng ngi lm
vic phn khc, c l bo ch, i pht thanh truyn hnh, v truyn ming l cch
hiu qu nht cho h c c. 1901 c th qung co sn phm ca h thng qua mt s t
bo ni ting v quen thuc cho nhng ngi lm vic nhHoch, H Ni mi, ... hay
qung co trn truyn hnh trong mt sgi chn hoc sau khi quay chng trnh.
Trong iu kin ca phn khc tr em nm 1901 Hotdogs c thphn phi cc t ri p
v th v cho ph huynh v tr em khi hn cc nh hng n pha trc ca cc trng
tiu hc v trung hc. H cng c th chn qung co trn truyn hnh gia mt
schng trnh Cartoon nm bt s ch ca tr em v cha mca h.
c. Evaluation of alternatives In this stage, the customers try
to choose between products, or firm up on the purchase decision.
Different consumers have different outlook about the distinction of
product. International brand name, high quality, cleanliness and
unique tasting are strengths of 1901 Hot Dogs. But with respect to
working class segment, the most important criteria for them to
choose 1901 Hotdogs are the affordable price and a suitable amount
of foods compared to other fast food restaurants to serve their
starvations. Hence, 1901 Hotdogs should design appropriate set menu
in affordable prices for working people. In contrast with working
people segment, children choose fast food restaurants based on
their parents decision or what fast food restaurants can satisfy
their demands, taste or even where offer them more attractive toys
in their set menu if parents allow them to choose. When parents are
the ones who make decision, 1901 can influence them by introducing
the nutrition 40
contained in their dishes that is good for their childrens
health and heart. At this stage, marketers at 1901 Hotdogs also
need to understand what their competitors offer to children, follow
the model if it is successful or simply design another models and
products to satisfy children requirements. Marketers at 1901
Hotdogs should be more concerned with attribute importance of
products. Sales personnel and attitude can greatly influence the
customer at this stage and sales promotion offers become of
interest. Independent sources of information are still of interest,
including product test reviews.
Trong
giai
on
ny, khch hng la
chn
gia sn phm,
hoccng ty ln trn quyt nh mua hng. Ngi tiu dng khc nhau ctrin vng
khc nhau v s khc bit ca sn phm. Thng hiuquc t, cht lng cao, sch s v
hng v c o l th mnhnm 1901 Ch Hot. Nhng vi s tn trng lm vic phn khc
hng, cc tiu ch quan trng nht h chn 1901 Hotdogs l gi c phi chng v
mt s lng thch hp cc loi thc phm so vicc nh hng thc n nhanh khc phc
v starvations ca thit k ph hp trnh h. Do, nm n thit 1901 Hotdogs
nn
lp gic phi chng cho nhng ngi lm vic. Ngc li vi phn khcnhng ngi
lm vic, tr em chn nh hng thc n nhanh da trn quyt nh ca cha m hoc
nhng g cc nh hng thc n nhanh c th p ng nhu cu, hng v ca h hoc thm
ch cung cp cho h chi hp dn hn trong trnh n thit lp ca h nu cha m
cho php h la chn. Khi cha m l nhng ngi a ra quyt nh nm 1901 c th nh
hng n h bng cch gii thiu v dinh dng cha trong cc mn n ca h l tt cho
sc khe tr em v tri tim ca h. giai on ny, tip th ti 1901 Hotdogscng
cn hiu nhng g i th cnh tranh ca h cung cp cho tr em, theo m hnh nu
n thnh cng hay n gin l thit k mt mhnh v cc sn phm p ng yu41
cu tr
em.
Tip th ti 1901 Hotdogs cn c quan tm nhiu hn vi tm quan trng thuc
tnh ca sn phm. Nhn vin bn hng v thi rt c th nh hng n khch hng giai
on ny v xc tinbn hng cung cp tr thnh quan tm. Ngun thng tin c lp vn
cn quan tm, bao gm c cc nh gi th nghim sn phm.d. Purchase Before
making a purchase decision, there are three more consideration
might affect the purchase decision: Attitudes of others (relatives,
friends, etc) Anticipated situational factors as expected family
income, expected total cost of the product and the expected
benefits of the product Unanticipated situational factors as looks
or manner of the salesman or the way business is carried on. The
most important thing that marketers of 1901 should concern to
affect their customers purchase decision in this stage is that the
staff of 1901 Hotdog should offer customers friendly and helpful
environment and endeavors to make them satisfy. Trc khi thc hin mt
quyt nh mua hng, c ba xem xt c thnh hng n quyt nh mua hng: - Thi ca
ngi khc (ngi thn, bn b, vv) - D kin tnh hung yu t nh thu nhp gia nh
d kin, tng chi ph d kin ca sn phm v nhng li ch d kin ca sn phm - Yu
t khng lng trc c tnh hung nh ngoi hnh hay cchthc ca cc nhn vin bn
hng hoc kinh doanh theo cch c thc hin trn. iu quan trng nht m cc nh
tip th nm 1901 nn quan tmnh hng n quyt nh mua hng ca khch hng trong
giai on ny l rng cc nhn vin nm 1901 Hotdog nn cung cp cho khch hng
mi trng thn thin v hu ch v c gng lm cho h tha mn.
42
e. Post-purchase evaluation After buying and trying the products
from 1901 Hotdog, the consumer will feel some level of satisfaction
or dissatisfaction and level of satisfaction depends very much on
the expectation and the products perceived performance. If the
product matches up to the expectations of the working segment, they
will be satisfied and may probably introduce 1901 hotdogs to their
colleagues. If it falls short of expectations, he may switch his
purchase decision into other restaurants and may not suggest to
their friends. In terms of children segment, if they are satisfied
with 1901 Hotdogs dishes, they might come again and tell their
friends to try 1901 products. Marketers of 1901 are suggested to
research about their customers comments and feedbacks so that they
can know what to be improved and what has already satisfy their
customers in terms of food hygiene, quality of staff, cleanliness
of their infrastructure and so on.
Sau khi mua v cc sn phm t nm 1901 Hotdog, ngi tiu dng s cm thy
mt s mc ca s hi lng hoc khng hi lng,mc v s hi lng ca ph thuc rt
nhiu vo k vng v kh nng nhn thc ca sn phm. Nu sn phm ph hp vi s mong
i ca cc phn on lm vic, h s c hi lng v c l c thgii thiu nm 1901 cc
hotdogs ng nghip ca h. Nu n ri ngn ca nhng k vng, ng c th chuyn i
quyt nh mua hngca mnh vo cc nh hng khc v khng th ngh bn b ca h.
Trong iu kin ca phn khc tr em, nu h c hi lng vi 1.901mn n Hotdogs,
h c th i mt ln na v ni vi bn b ca mnh th 1.901 sn phm. Tip th nm
1901 c ngh nghin cu v cc kin v phn hi ca khch hng h c thbit nhng g
c ci thin v nhng g tha mn khch hngca h v v sinh thc phm, cht lng ca
i ng nhn vin, sch s ca c s h tng ca h v nh vy.B. B2B Business to
Intermediaries 1/ Types of Buying Behavior There are 3 types of
Business Buying Behavior: New Task Straight Re-Buy
43
-
Modified Re-Buy
According to target market segment for B2B, buying behavior of
state-owned enterprises is modified Re-buy. In a modified re-buy,
the buyer wants to modify product specifications, prices, terms or
other conditions. The modified re-buy usually involves more
decision participants than the straight re-buy. This target market
makes high profit for 1901 Hot Dogs but the risk is also greater.
Company may feel pressured to put their best to protect an account.
It can be an opportunity to make a better otter and gain new
business other competitors in the modified re-buy situation. 2/
Business Buying Process Generally, there are eight stages of
Business Buying Process
a. Problem recognition In order to attract modified re-buy of
state-owned companies; 1901 Hot Dogs may be highlighted by press
coverage or advertising they have seen in the trade press. b.
General need description
44
In this stage, marketers should pay attention to press releases,
advertising, editorial comment. The customer will use whatever
sources they can find to help them specify what they need. c/d.
Product specification and supplier search: This is the time when
the business customers are particularly open to visits from your
sales force and trade directory entries. Because of never been in
Vietnam, 1901 Hot Dogs still has no reputation in marketplace.
Thus, exhibitions and technical information leaflets are also
invaluable sources. Besides, pricing information is seriously
considered. e. proposal solicitation: In this stage, 1901 Hot Dogs
marketers need to take notice that Business marketers must be
skilled in researching, writing and presenting proposals in
response to buyer proposal solicitations. Proposals should be
marketing documents, not just technical documents. f. Supplier
selection: This is the time for personal contact g. Order routine
specification: The more major the buying decision, the more
reassurance your customer needs. Doing well after sales support and
continued exposure to advertising and press coverage justifying the
purchase decision. h. Performance review: The first purchase should
not be seen as the end of the process, but the beginning of a
long-term business relationship.
45
C. Conclusion:
Entering into a new market, 1901 Hot Dogs has more advantages
and opportunities as a market challenger. This report is conducted
to support for 1901 Hot Dogs in entering into Vietnam market toward
practice of marketing approach. There are many characteristics,
elements, benefits and costs of marketing concept needed to be
concerned by 1901 Hot Dogs in order to approach Vietnamese market.
Focusing on the potential customers in the target market might help
1901 Hot Dogs become the market leader of the Vietnam fast food
market in the future. Marketing is a vitally important area of a
firm. For 1901 Hot Dogs, a marketing approach in Vietnam has costs
and benefits. Not only paying attention in macro and micro
environmental factors, marketers have to analyze segmentation
criteria in multi-level. Understanding clearly about the buying
process is also helpful for 1901 Hot Dogs to become more
successful. Expanding in Vietnam market is an important and lucid
decision of 1901 Hot Dogs because Vietnam is a very potential
market. If successful in Vietnam market, 1901 Hot Dogs may need to
consider about multi-expanded into Southeast Asian countries.
46
Bc chn vo mt th trng mi, 1901 Ch nng c li th hnv c hi nh l mt
thch thc th trng. Bo co ny c tin hnh h th chi tr cho 1.901 con trng
ph ca trng Vit khi quan Vit ch nng trong vic tham gia vo im, cc yu
t, li ch v
Nam i vi thc hnh phng php tip th. C nhiu c nim tip th cnphi
c
tm bi 1901 Ch Hot trong tip cn th trng mc
Nam. Tp trung vo cc khch hng tim nng trong th tiu c th gip 1901
Ch Hot tr trng ca th tng trng thc n lai. thnh nh lnh o th nhanh Vit
Nam trong
Tip th l mt khu vc cc k quan trng ca cng ty. i vi 1901Ch Hot, mt
phng php tip th ti Vit Nam c chi ph v t mi li ch. Khng ch ch m, cc
v nh rt cng mt m tip hu hn. quyt sut nm mt th trng v cc yu bit r
trng vi trnh tr Vit
th phi phn tch cc tiu ch phn khc a cp. S hiu rng v qu mua cng
thnh thnh Nam l sng ch cho 1901 Hot Dogs M rng th trng ti nh quan
trng v
1901 Ch nng bi v Vit Nam l
rttim nng. Nu thnh cng ti th trng Vit Nam nm 1901 HotDogs c th
cn phi xem xt v a m rng sang cc nc ngNam .
47
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49