• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

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.

Extracts from this document...

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.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our University Degree Marketing section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related University Degree Marketing essays

  1. Toyota Brand management

    Favourable brand associations are formed by creating a high level of trust with consumers. Consumers should be convinced that the brand can satisfy their requirements with its features and benefits, which in turn forms positive brand judgements. Toyota has been observed as a brand with reliable products and this

  2. LVMH: Strategic Integration and Expanding Brand Dominance in Asia. We will suggest our recommendations ...

    It is an important part of the vertical integration. Thanks to this LVMH created an environment in which the image and status of luxury brands were enhanced. It controls where its products are sold and who is selling them. Nevertheless LVMH has to pay attention to keep the scarcity of its products.

  1. Dairy Milks current marketing strategy

    The sales curve may follow an unusual or irregular pattern, while external changes in the economic may distort its progress. * Constant market research is needed for the firm to monitor change and to use the product life cycle effectively * Firms may be tempted into self-fulfilling prophecies, for example

  2. For this PEST analysis I will be analyzing the ice cream and frozen dessert ...

    Ben and Jerry's customer service is supported by their website where anyone can attain company information, frequently asked questions, and even suggest new innovative flavors. You can find where the nearest Ben and Jerry's product is being sold to you through its store locater, nutritional information, and even go to

  1. Tesco's Strategic management

    Growing internationally has forced Tesco to become serious about hypermarkets and this has had seriously positive implications for growth in the UK. Tesco has formed a strategic relationship with US supermarket, Safeway Inc, to take the tesco.com home shopping model to the US.

  2. Chapter Notes on Marketing Management by Philip Kotler 10th Edition

    That is, you position the product in the mind of the prospect. A competitor has three strategic alternatives: The first is to strengthen its own current position in the consumer's mind. Avis acknowledged its second position in the rental cars business and claimed: "We're number two.

  1. The Body Shop and the successes and failures of their strategy - Executive summary

    Campaign Achievements Through a number of campaigns, The Body Shop has reached their goals set for positively changing and improving human & civil rights, environmental protection and animal rights. This shows that the company strategy must be successful in meeting its own criteria: to promote profits with principles.

  2. Marketing a new snack in Vietnam.

    However, Poca potato snack is still currently receiving a great many positive supports from consumers. Furthermore, this direction of Poca in pricing is going to be followed by other advantages: 1.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work