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Viet Tien Essay

2442 words - 10 pages

Introduction:Viet Tien has done well so far in establishing a strong presence in the Viet Nam's men shirt market. Strong competitor have been catching up and it is necessary for Viet Tien to re-evaluate its current strategies and plans on how to keep ahead in the race.1) SWOT Analysis of Viet Tien Company:
Strengths
High skills and productivity: Viet Tien has a contingent workforce who had been trained and worked for a long time.
Broad network of agents: more then 400 agents and shops and supermarket chains
Low labour cost.
Viet Tien had received much support from the corporation. Because Viet Tien is is a company within the state-owned Vietnam National Textile And Apparel Group
Larger size: Viet Tien has flexbile size for different type people from size 32 to 48.

Weaknesses
Marketing policies poor: lack of marketing strategies and supporting activities.
Inflexible price polices: there is not much promotion in product's price.
Materials of garment were imported so that make price of products higher.
Product and pattern are not designable. Very less design style.

Opportunities
Viet Nam is a developing economy so that easily to expand the business.
High possibility to increase sales and boost profit margins as Viet Tien's shirt is a high margin product
More local suppliers of fabrics and accessories.
Viet Tien shirt - increasing demand for beautiful clothes-a young category should apply.
High GDP growth correlate with higher income and spending power

Threats
Competitors' aggressive growth strategies.In garment market, Viet tien's shirt is growing very fast and holding market share
Vietnam economic likely to affect local economy & growth potential. More economical brands trying to cater for lower market segments. The price of men shirt may low down.
Potential competitors - local manufacturers and new players entering Vietnam post WTO - China, or other Asians import to Viet Nam and sell low price.

2) Marketing ObjectivesBased on the SWOT analysis for Viet Tien, the plan outline would envisage to establish Viet Tien to be a stronger player in the men shirt market. The objective would be to:Maintain 70% market share for Viet Tien brand in the men shirt market for 2009 and to defend against competitor's campaign.To develop and emphasize on the high school's, university and officer's men shirt uniform and to grow the sales by 20% both in HCMC & Hanoi by end 2009 so as to maintain market share for Viet Tien brand in Vietnam.To also grow the business in other major cities besides HCMC & Hanoi by improving and open more agent's shop.3) Segmentation & TargetingBased on Viet Tien present segmentation and target markets, their market should extend to the following segments besides those presently targetedMen officer in Vietnam from age 24 - 55 years oldOther industry cities besides HCMC & Hanoi eg. Binh Duong, Da Nang, Quang Ngai,etc.student market segment between age 14 & above can be Viet Tien's future loyal customers.4)...

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