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Marketing Management. Viettien which is a famous brand in Vietnamese textile industry was chosen for this. Specifically, the paper will analyze how Viettien has oriented its target market.

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Introduction

CHARLES STURT UNIVERSITY Market orientation for Viettien Company MKT 501 : Assignment 1 Lecturer: A. Bull Student Name: TRUONG LUAN NGUYEN Student ID: 11464575 May 1 2011 EXECUTIVE SUMMARY There are several aims in this report. The paper will attempt to answer the question what is a market orientation? Base on a wide range of literature. In addition, it must also point out important level or market orientation. To have a specific description, analyzing market orientation of a company is inevitable. In so doing, Viettien which is a famous brand in Vietnamese textile industry was chosen for this. Specifically, the paper will analyze how Viettien has oriented its target market. In this report, only several main ideas have been mentioned which due to limited space. Providing recommendations which can help Viettien become more market oriented is also another aim of this report. In research for this report, some information about current strategic development of Viettien and survey has been used. There are some findings of this report: * During the past decade, in marketing and management, one of the most attractive research topics has been market orientation. Market orientation is how to facilitate ability of company to capitalize, react to, and anticipate on changes of environment which is result in a superior performance. * Market orientation is very important for a company because it is very helpful in process of creating a sustainable competitive advantage through. * Viettien has built a good market orientation for its own which has been prove by success in business and a result with overall score fluctuate from 5.6 to 5.9. Viettien absolutely get numerous benefits on its market orientation. However, some weak point is still containing inside which can be improve with recommendation that to increase customer satisfactory, Viettien should pay more attention and money to customer services is a effective solution to prevent the competition and ensure customer loyalty, further, it also increase company profit, decrease marketing cost and help to differentiate product (Bov�e & Thill ,1992). ...read more.

Middle

On performance outcome, there is a significant and positive link between organizational performance and the marketing concept which is stated by Lusch and Laczniak (1987). In the face of intensifying competition, market orientation is a thing which can provide a winning philosophy to organization. It will increase the probability of an organization's survival. Furthermore, when innovation becomes a decisive element to the survival of company, market orientation also has a significant contribution to this fact. Reasons for this, the commercialization of new products can be increased by customer orientation; competitor orientation create a good strategy for companies when they want to launch new product lines or extensions to product; and inter-functional co-ordination increases the commercialization of extensions to product lines. According to recent study of Lado and Maydeu-Olivares (2001), market orientation has significant influence on innovation that has been proven that a greater innovative flair comes from companies with more market-oriented. Therefore, it is easy to understand that organizations with higher degrees of market orientation will significantly achieve higher level of innovation. The impacts of market orientation on the profit margins of new products have been deeply analyzed by Atuahene-Gima (1995). The development and profitability of new products can get some positive influences through enhancing market orientation. In a later study, Atuahene-Gima (1996) had indicated that a decisive impact on the profitability of service and product innovations have been significant impacted by market orientation. 3. Viettien and market orientation 3.1. Overview Viettien World economic integration, Vietnam's economy will have many changes will create many opportunities and challenges for businesses in Vietnam. So only dynamic and flexible enterprises which are able to quickly access and development will stand firm, and vice versa would quickly go bankrupt. Viettien established in 1976, is a small factory with the old name is "Pacific Technology Company," old-fashioned device, at first just over 100 employees, mainly outsourcing for export. After 30 years of construction and development, under the continuous efforts of all staff, and right market orientation, so far VietTien ...read more.

Conclusion

Besides , to obtain more market share and protect itself from the fierce competition of competition, in about 5 years, Viettien has spent around $ 200,000 to buy suit technology of the U.S. and Japan, Germany jackets, khaki pants from Japan ... Recently, Viettien has released research quality product line, which is distinctive from the competition high and increasing human emotion, friendly environment. These have proven that Viettien built a good competitor orientation for itself. 4. Recommendations According to Lucie .K (2010), customer services play an important role in market orientation, because customer satisfaction with the product using can be increased through customer services. Beside quality, customer service is a effective solution to prevent the competition and ensure customer loyalty, further, it also increase company profit, decrease marketing cost and help to differentiate product (Bov�e & Thill ,1992). However, in Viettien, this stage still gets some troubles. The ability of employees to solve problem of customer is stay at low level. Recently, some complains of consumer about customer service of Viettien appeared on newspapers and internet. This trouble is also confirm in survey when level for top managers visit their current and prospective customers and the attention to after-sales service is stay four correspond with a moderate extent. Therefore, a high recommendation will focus on this stage of Viettien which is extremely useful in process of market orientation. Best solution is to send employee to a training course which can increase their experience in solving problem of customers. 5. Conclusion This paper aims to have a close look to market orientation which is one of the most attractive research topics in marketing and management during the past decade. An important role of market orientation to the success of a organization has been defined through the findings of this report. The successes in strategy of Viettien mainly come from a good market orientation which includes consumer orientation, competitor orientation, and orientation inter-functional coordination. All of these contributed to create sustainable competitive advantage for Viettien. However, Viettien also need to reconsider its customer service and consider recommendation which can help it improve market orientation. ...read more.

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