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Thai Tuan Textile Company, Vietnam - Marketing Strategies

Extracts from this document...

Introduction

Lecturer : Prof. Dr. BENO�T HEILBRUNN Group members: HUYNH TH� THUY LE THANH NGUY�N THI THU� HANG NGUY�N THI THU H� V� MANH THANG �INH NGOC HUY CHU DUY HUNG H� THI HO�I 1. OVERVIEW * The Thai Tuan Story Thai Tuan Textile and Garment Corporation was founded in early 1993. At the moment, it is one of the leading Vietnamese textile product and fashion services supplying enterprises, that specializes in manufacturing and trading varieties of polyester fashion fabric such as Jacquard fabric, Sateen fabric, Chiffon fabric, Stretch fabric,...mainly for ladies. Its products now are consumed widely in domestic market and export to different states over the world. From the 1990s, when many other domestic enterprises attached special importance to exporting their products to foreign markets, Thai Tuan has decided to choose the essential strategy to develop domestic market and built step by step plan to penetrate into the international market. Through introducing products at "Vietnam's highest quality products" fair that was organized in different cities, Thai Tuan brings its products over consumers. Thai Tuan has won the prize "Vietnam's highest quality product" from 1998 until now in succession and the prize "Gold star of Vietnam" in 2007. From the idea to manufacture fabric for the traditional custom - "Ao dai" at the beginning, Thai Tuan has developed many lines of products such as Thatexco, Lencii, Happiness, Rosshi...that specialize in different kinds of dresses for women: Ao dai, nightgown, dress for schoolgirls, wedding dress, office's fashion . Thai Tuan now also provides men's fashion with "Menni's" trademark. Thai Tuan has got 3 big plants in Ho Chi Minh city and applying international management systems like ISO 9001:2000, ISO 14000, SA 8000, 5S. Total production capacity is 10 million meters of fabrics per a year. Growing rate is 15% per a year. Income in 2006 was 25 million USD of which 50% came from domestic market. ...read more.

Middle

They think that foreign products have premium quality, so they ready to pay high price in exchange good products. In reality, their quality is maybe as high as domestic product, but due to the foreign mark, they are more easily accepted by customers. d) Discounts, allowances and promotion: Along with promotion programs held in particulars events, Thai Tuan has regularly offered customers an indirect discount in order to increase the buying purchase of Thai Tuan. To carry out the discount, Thai Tuan has joined with some tailor shops in assisting customers in making clothes. Whenever customers buy a Thai Tuan textile product, they will have a chance to get a cheaper price of making clothes at the associated shops. The discount rate is often about 20-30% (25,000 - 35,000 VND/set). This kind of discount benefits all 3 stakeholders: Thai Tuan increases revenues, tailor shops have more customer and customers gain a discount. The tailor shops that Thai Tuan chooses to associate are famous shop and have many experiences in making clothes. This makes a great contribution to increase Thai Tuan image in customer mind. Some competitors tried to copy this method but they are not as successful as Thai Tuan because Thai Tuan is a strong brand and is very professional in this area. 6. DISTRIBUTION CHANNELS Thai Tuan Co. currently distributed their fabrics in Vietnam and export a certain range of its products to foreign countries. The total sales of the company in 2008 are about 43 million USD in which, export covers 50%. For exporting, the company's major export markets are: some countries in North America, USA, Middle East and Asian. Among these areas, Middle East is considered to be high potential. For instance, some colourful "G�m" fabrics are salable in Saudi Arabia because woman in this country like to wear fabric with strong colour and soft material under the black overcoat. ...read more.

Conclusion

The department, together with distributors, sellers set commercial targets, level of storing products, training demand; decorate shops; plan advertising activities and sales promotion; and so on... * Thai Tuan should take quick actions to develop distribution channels in foreign markets. The income from these markets is increasing while solidity of distribution has not gained. There are plans to penetrate new Venezuelan markets. In the past, Middle East markets played key role to help company survive in tough time. Therefore, Thai Tuan needs to upgrade from normal sales operation to marketing management in foreign markets. This includes updating company strategy, market analysis, choosing target market, positioning products, setting up and implementing marketing-mix systems, and finally setting up monitor and measurement system for marketing operation. * Thai Tuan has very good marketing communication. In those communications, Vietnamese traditional dresses are set off. And this is one of reasons to explain Thai Tuan's success that is when buying Ao Dai, customers choose Thai Tuan. However, the Thai Tuan brand core value is not only Ao Dai. The slogan "Weaving your dreams" aims to other clothes. There have not been strong links between Thai Tuan and office clothes, evening gowns, indoor clothes, wedding clothes. Thai Tuan does have collections of these clothes though. Hence, Thai Tuan needs to implement more marketing communication activities for these collections at least as Thai Tuan does with Ao Dai. * People who buy Ao Dai at traditional community market "cho" are not target consumers of Thai Tuan's collections, that is Rosshi, Thatexco, Happiness. The target customers are rich people, middle class ones. And Thai Tuan needs to develop more special channels to distribute these collections to them. Currently, the number of showrooms is very limited. Thai Tuan needs to have more showrooms while selling clothes of collections in shopping centres, supermarkets. * Thai Tuan needs to have separate marketing-mix programs for collections. Selling prices of clothes of collections cannot be "reasonable". Rich women do not by clothes but luxury. ?? ?? ?? ?? 24/25 | Page ...read more.

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