Marketing Assignment Example Essay Example

The strategic placement of outlets in busy locations like shopping centers and malls contributes to their overall success. Additionally, TSR's kiosks feature modern and attractive concepts that further enhance their appeal. Moreover, TSR not only has a physical presence but also an impressive website that serves as an advertising platform showcasing diverse food options and location information. The visually appealing website captivates visitors through its color scheme, music selection, and presentation style. To ensure success in the Vietnamese market, understanding locals' eating habits - including preferred dining locations and favored cuisines - is crucial for TSR. Armed with this knowledge, they can strategically establish restaurants or kiosks in central areas of crowded cities like Hanoi, Da Nang, and Ho Chi Minh City. Furthermore,Metro and Big C supermarkets present potential locations for TSR outlets as wellSecondly, they should also cater to the dietary restrictions of foreign tourists, particularly Muslim tourists. This approach not only ensures long-term profitability for TSR but also helps them establish their brand and better understand the needs and preferences of Vietnamese customers.

With Vietnam becoming a popular destination for overseas visitors, CRS recognizes the benefits of catering to foreign tourists in addition to Vietnamese people. As Vietnam joined the World Trade Organization in 2006 and experienced an increase in disposable income, it has become an attractive market for foreign companies. Vietnamese consumers now have a preference for foreign brands over domestic products.

To successfully enter and expand their business in Vietnam, CRS needs comprehensive plans and strategies that align with a market-oriented organization's characteristics. These characteristics include product orientation, sales orientation, and marketing orientation.

In order to increase their customer base, TSR must manufacture good

products at reasonable prices that cater to both Vietnamese tastes and the dietary restrictions of foreign tourists such as Muslims. By doing so, they can ensure high quality while meeting the diverse needs of their target audience.The text emphasizes the importance of offering a diverse range of food options, such as Haines Curry Chicken, Spicy Mixed Vegetables, and Hong Kong Beef Stew. Each food item should have its own distinct brand identity and meet nutrition and safety standards. TSR should continuously innovate by creating new food options and updating their menu regularly.

It is crucial to price these products appropriately for Vietnamese consumers, taking into account the relatively low raw material costs in Vietnam. Lower prices can be offered in Malaysia and Singapore. Additionally, TSR must focus on meeting customer requirements through sales orientation to maintain a loyal customer base.

To ensure success, TSR needs to retain Vietnamese customers and encourage repeat purchases. Market demand analysis is necessary to avoid producing unnecessary goods. The marketing orientation process helps determine the business mission by understanding market requirements and deciding on value. Collecting and updating information about customer needs is essential for effective market access.

To remain competitive, TSR must pay closer attention to their customers' needs to prevent lost sales to rivals. Research and Development (R&D) involves conducting surveys to ensure food suitability for Vietnamese customers and making necessary production changes accordingly.Understanding the macro and micro environmental factors that influence marketing decisions is crucial for TSR, as well as any other company. Macro factors, which include Political, Economic, Social-cultural, and Technological (PEST), and micro factors, denoted by Strengths, Weaknesses, Opportunities, and Threats (SWOT), impact an organization's decision-making process and

performance. When considering opening a branch in Vietnam, various economic, demographic, legal, political social conditions need to be taken into account along with technological changes and natural forces. These factors are typically analyzed using the PEST formula (Politics,
Economics,
Society,
and Technology). In terms of politics,
TSR must consider tax policies,
employment laws,
administrative procedures
and intellectual property protection when establishing a presence in Vietnam.Compared to other Southeast Asian countries,
Vietnam has higher tax rates.
Therefore,
TSR needs to carefully calculate this sector and optimize their interests for maximum profitability.Employers in Vietnam have the right to determine wages based on working hours worked
and can offer higher salaries for overtime work.Additionally,
employers in Vietnam are required to contribute 15% of employee insurance payments along with other types of insurance coverage.Opening a new business in the Vietnamese market has faced challenges due to biases in administrative procedures;However, these issues have been addressed through new government policies aimed at reducing barriers and encouraging foreign investment opportunities. TSR can benefit from the membership of both Malaysia and Vietnam in SEAN or WTFO, organizations promoting business activity. However, protecting intellectual property in Vietnam is complicated with strict regulations in some areas and loose regulations in others. Therefore, it is important for TSR to maintain its brand and research other brands in the same sector. Due to bureaucracy, foreign companies may face difficulties and punishment if they don't comply with Vietnamese intellectual property laws.

While TSR can easily enter the Vietnamese market, surviving here will present various challenges. In terms of economics, several factors should be considered. The GDP growth index in Vietnam over the past three years reflects rapid and stable development, improving living standards and changing needs of Vietnamese people.

TSR has

an opportunity to expand by offering unique fast food options that not only satisfy hunger but also provide delicious meals and a good-view restaurant ambiance. Despite facing challenges such as high interest rates and inflation, which can impact the price of goods and cash flow, TSR also has to deal with the high exchange rate between MYRA (Malaysian Ringgit) and VEND (Vietnamese Dong). This can lead to increased food prices if TSR imports materials or machines from Malaysia or Singapore.TSR faces challenges in competing with well-known brands in Vietnam due to its plentiful labor force, which has lower costs but potentially lower quality compared to other Southeast Asian countries. However, the government is investing in employee training to improve the quality of the labor force in the short term. The quality of infrastructure and location of shops or kiosks play a crucial role in facilitating sales for TSR, as seen with well-known brands establishing shops in high traffic areas like Vinson centre. Despite current infrastructure limitations, the Vietnamese government is working towards improvement to attract more foreign investment. Technological advancements are significant for TSR as they enable better-quality products and cost savings. Accessing the internet through Backbone or specific websites allows effective marketing activities for TSR. Moreover, Vietnam has a large population of over 80 million people that is steadily growing, though it will age in the near future. Therefore, catering goods and services to this demographic becomes crucial for TSR. Additionally, TSR will benefit from Vietnam's abundant human resources, making recruitment easier.The recent growth in the popularity of fast food in Vietnam has led to a preference for dining at fast food restaurants instead

of cooking at home, driven by social trends. However, TSR, being a Muslim-style assistant, needs to prioritize the taste of their food as Vietnamese customers prefer family-flavored gourmet. Unlike Malaysia, where the majority are Muslims, Vietnamese people mainly follow Buddhism or Christianity. This may present difficulties for TSR in meeting customer preferences. Therefore, it is crucial for TSR to create or modify dishes that better suit their Vietnamese customers' tastes.

To analyze the micro environment of TSR, a SWOT form is used which includes strengths, weaknesses, opportunities, and threats. Internally, TSR boasts several strengths such as being a well-known brand with 62 outlets and having many years of experience since its establishment in 2000. Additionally,TsR offers a diverse range of products suitable for various age groups and provides good quality food. Moreover,TsR has a friendly product image and offers unique products (fast food with rice)and style(family style).

However,Tsr does have weaknesses especially in terms of public relations and understanding the Vietnamese market.The price of TSR's products may also be considered insensitive when compared to the Vietnamese currency.On a positive note there are several external opportunities available for TsrVietnam has a promising potential market due to the improving income of Vietnamese people over time. TSR's products are in high demand among officers and benefit from convenient business locations, access to cheap raw materials, and an inexpensive labor force. However, there are threats to TSR's success, including competition from other restaurants like Mann Hooch Chicken and Walking Chicken that challenge their market share. Illegal suppliers from China also pose a threat.

TSR is a chicken rice fast-food restaurant and assistant chain based in Malaysia. It is operated by TSR

Restaurants Sad Bad, incorporated in Malaysia in June 2000. They offer both "grandmother's traditional Haines secret recipe chicken rice" and local Malaysian dishes. The company has experienced successful growth domestically and plans to expand into Indonesia, Australia, Singapore, the Philippines, Taiwan, and other Asian countries.

TSR offers a wide range of products such as 45 types of chicken items, 10 types of rice and noodles, 5 types of vegetables, various beverage options, and 8 different combos suitable for customers of all ages. Their friendly slogans in Malay ("Began Sadder NASA Maya") and English ("Chicken Rice and More") contribute to their popularity. Additionally, their high-quality products have received awards in Malaysia.TSR has built a cozy environment for customers through their family-style dining experience, but they are still relatively new in the Vietnamese market where the brand is unfamiliar to consumers. Although rice is a staple dish in Vietnamese cuisine, it is not commonly associated with fast food. TSR also lacks necessary public relations efforts, unlike well-known fast food brands like KFC, Burger King, and McDonald's that often come to mind when thinking about fast food. To gather information about the market, TSR can use Tact's Bessie or Backbone systems or certain well-known websites. However, their activities in the Vietnamese market are limited.

The average price for a TSR combo is around 100,000 VND which may be considered expensive by some customers. On the other hand, Vietnam encourages foreign companies to expand their market presence through implemented policies and this has greatly benefited enterprises and allowed them to generate quick profits. Despite having lower income compared to neighboring countries, Vietnam experiences a growing income rate. Additionally, with a predominantly

young population, Vietnamese consumers readily embrace new food options.

While business locations in Vietnam can be costly for foreign investments requiring substantial capital, they are still favorable due to the country's encouraging policies. Moreover,the labor force in Vietnam may not have high-quality skills overall but for positions like waitresses or chefs at TSR this is not a major concern.
In addition, labor costs in Vietnam are comparatively lower than other Southeast Asian countries. Additionally, the quality and prices of raw materials such as rice, chicken, and vegetables in Vietnam are superior to those in other nations. Moreover, TSR may encounter competition from well-known brands like KEF, Lotteries, and BBC in the fast food industry within the Vietnamese market. Furthermore, traditional taste-oriented restaurants like Mann Hooch Chicken and Walking Chicken have gained popularity among the Vietnamese population. There is also a challenge posed by illegal suppliers who engage in smuggling and tax evasion which TSR must handle carefully. When segmenting the Vietnam market, TSR can consider various approaches including geographic, demographic,cryptographic,and behavioral segmentation. However, as a food company primarily focused on geographic and demographic segmentation will be crucial for TSR's success. In terms of geographic segmentation specifically focusing on population size and location is important for TSR's strategy. Vietnam has a large but unevenly distributed population with significant concentrations in major cities such as Hanoi and Ho Chi Minh City. By operating in these markets,T SR can maximize their customer base. Moreover,Vietnam can be categorized into Northern,Southern,and mid-Vietnam markets based on location.In Northern cities like Ha Nonand Southern cities like Ho Chi Minh City,the infrastructure is modern particularly in new high-rise buildings or central mallsIn addition, these cities

are home to numerous entertainment centers and cultural hubs. Despite the challenges of finding rental spaces, investing aggressively in these cities presents a promising market for TSR.

Furthermore, TSR can target Ad Nag city in central Vietnam as a potential market in the near future. This developing city holds potential for growth and expansion.

Demographic segmentation divides customers into three age groups: children (under 12), teenagers (under 20), and adults. Each group has unique needs and desires.

Children and teenagers are easily attracted to product appearance or brand name alone. They represent potential customers who do not require significant investment in attraction or advertising. However, they have limited funds and rely on adults.

TSR can utilize this information to develop products with specific colors, flavors, shapes, and even create a new mascot that appeals to this segment.

The adult group (over 20) has independent control over their finances, providing an opportunity for TSR to satisfy this customer base.

On the other hand, the elderly are cautious and strict when it comes to embracing new things like TSR or fast food. Regardless of gender, TSR should tailor their strategy to accommodate this group's preferences.

It is a known fact that women consume less fast food than men due to their desire to maintain fitness. Nevertheless, TSR can still profit from women by creating and developing low-fat food options specifically designed for them.With the help of modern science and technology, achieving this goal is certainly possible. However, TSR may encounter obstacles related to income and occupation. In comparison to competitors like KEF and BBC, the price of a TSR combo is higher, making it unaffordable for students and individuals with low incomes. Moreover, TSR

has yet to establish widespread recognition among Vietnamese people. To tackle this issue, the market can be divided into high-income and low-income groups. Initially focusing on the high-income segment will allow TSR to gain popularity before eventually lowering prices to cater to the low-income group.

Psychological segmentation involves categorizing consumers based on their lifestyles, attitudes, interests, and opinions. In Vietnam's market specifically, it can be split into two segments: Southern and Northern regions. People in the South tend to have a more liberal lifestyle compared to those in the North. To effectively target customers in these regions, TSR needs to adopt different approaches.

It's important to note that customer preferences vary when dining alone versus with their family. In Malaysia, TSR has successfully positioned itself as a family-friendly fast food restaurant; leveraging this reputation could attract customers in Vietnam as well.

To target couples specifically and create a romantic atmosphere for them, TSR can enhance its brand by developing an appealing logo and mascot that reflect its unique characteristics.Socio-cultural segmentation groups consumers based on culture, sub-culture, cross-culture, religion, and social class. In reality, individuals are classified into three social classes - upper class, middle class, and lower class - according to their incomes. The products from Tact should cater to all classes; however, initially TSR may focus on a specific class (preferably the middle class), followed by the upper and lower classes. As TSR is a Chinese-style restaurant, its flavors would likely appeal to Vietnamese customers. The menu at TSR offers various dishes that resemble those found in Vietnamese restaurants but with slight variations in presentation and spice usage. This diverse range of familiar meal choices makes it

convenient for customers to choose TSR as their preferred dining destination.