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Assignment Marketing-segmentation,position,etc...
 

Assignment Marketing-segmentation,position,etc...

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All about my first assignment, I up it for anyone who want to read and check the private answer for yourself. Gook luck :). In My assignment, if there is something wrong, please tell me know :3 to ...

All about my first assignment, I up it for anyone who want to read and check the private answer for yourself. Gook luck :). In My assignment, if there is something wrong, please tell me know :3 to help together to improve ^0^

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    Assignment Marketing-segmentation,position,etc... Assignment Marketing-segmentation,position,etc... Document Transcript

    • NATIONALECONOMICS UNIVERSITY BTEC HNDIN BUSINESS&MANAGEMENT ASSIGNMENT COVERSHEET NAME OFSTUDENT Nguyễn Hùng Chiến IBD REG.NO: 101201115 UNIT TITLE MARKETINGPRINCIPLES UNIT/UNIT CODE Unit4:F/601/0556 ASSIGNMENT TYPE 1of 2(IndividualReport) NAME OF LECTURER/TUTOR Mr.JEFFERYLIM /Ms.Nguyen KhanhVan SUBMISSIONDEADLINE October1st Tuesday,2013(Ms.Lam’sOff.12hr00) NumberofWordsCount: 3105 words not include cover sheet, content, appendix and refences I, herebyconfirmthatthisassignmentismyownworkandnot copiedorplagiarizedfromanysource.Ihavereferencedthesourcesfromwhichinformationis obtainedbymeforthisassignment. Signature Date FOR OFFICIAL USE ASSIGNMENTGRAD1
    • Outcome Evidencefort he criteria Feedback Assessor’s decision Internal Verification Understand theconcept processof marketing (LO1) Explainthe various elements ofthe marketing process 1.1 Evaluatethe benefits and costsofa marketing orientation fora selected organisation 1.2 Beabletouse theconceptsof segmentation, targetingand positioning (LO2) Showmacro andmicro environmental factorswhich influence marketing decisions 2.1 Propose segmentation criteriato be usedfor products in differentmarkets 2.2 Choosea targeting strategyfor a selected product/service 2.3 Demonstrate howbuyer behavioraffects marketing activitiesin differentbuying situations 2.4 Propose new positioningfor a selected product/service 2.5 Merit gradesawarded M1 M2 M3 Distinctiongradesawarded D1 D2 D3 2
    • Outcome Evidencefort he criteria Feedback Assessor’s decision Internal Verification Assignment ( ) Well-structured; Referenceisdoneproperly/should bedone(if any) Overall,you’ve Areas forimprovement: ASSESSORSIGNATURE: DATE / / NAME:.................................................................................................... (Oralfeedbackwasalsoprovided) STUDENTSIGNATURE : DATE / / NAME :.......................................................................................... FORINTERNALUSEONLY VERIFIED YES NO DATE : ........................................................................................ VERIFIEDBY:........................................................................................ NAME :....................................................................................... 3
    • 4 Case Scenario Introduction RocketSkatesInc. RocketSkatesInc.(RS)amanufacturer ofroller-skateswasincorporatedinThailand,2001. Empoweredbyhighlyqualifiedandknowledgeableteamof personnel,RSisworldwide recognisedastheleadingmanufacturer,supplieranddistributorof worldclassskates products. Since thefoundationoforganisation in 2001,RS havebeenservingalargenumber ofreputedcustomers throughouttheworldcapturing fifteen percent(15%)ofthemarket shares. InnovativeProducts:RScomprehensiverangeof productsconsistsofSkates,RollerSkates andSpeedSkates.All typesofskatesaremadeofgenuinegradeof rawmaterial that conforms totheinternationalstandards.RSteamofindustryprofessionalsdesignand developeachproductwithadditionalattentiontowards the qualitysoastopresentthe flawlessproductstocustomers.AlltheproductssoldbyRSarehundredpercentdurable andsustainforalongerperiodoftimethat makeRSskateswidely preferredover competitors. Pro-SeriesSkates Fun-SeriesSkates
    • 5 RS Pricing Strategy:RSmanufactures twokeyproducts–theProSeries andFunSeries.The ProSeriesaretargetedatprofessionalsandseriousskateenthusiasts;andtheFunSeries arespeciallydesignedandtargetedforchildrenandthe teenagers.The premiumpricing strategyisadoptedforalltheProSerieslineofproducts.FortheFunSerieslineofproducts -acompetitivetypeof pricingstrategyisadoptedtocompetewithcompetitors.Both types of pricing strategy - premium and competitive pricing are in line with the company’s businessobjectivestomaketheirskatesproducts reachableforall. RS RetailsChain:AlllinesofRSproductsareonlysoldthroughauthoriseddealers’sports shopsavailableinmajor cities.Theretailsshopsarespeciallydesignedbasedona‘onestop concept’whereconvenience,comfortandprofessionaladvicesareavailableforallrange of customers.Inaddition, RShavegreatreputationasthemostreliableafter-salesservice providerforallitsrangeofproducts.RSproductscomewithatwelvemonthswarranty againstdefectivepartsandfreeservicesforthe 1st –timeproductsservicing. RSPromotion:Whilemostoftheavailable promotional-mixisused, thekeyfocus forRS productsareadvertised throughsportschannels,sportsillustratedmagazines,andskating events sponsorship. The company also sponsored a sports TV programme where professionalandamateurskatersalikeareinterviewedandgivenanopportunity to demonstrate their skills and talents in skating. The programme has received positive respondandinterests towardskatingasasportorsimplyforfun. RS FutureExpansion:Withthesuccessfulmarket growthandacceptance ofRS brandinthe internationalmarkets,thecompany plantoinvestandsellsits products,andfurtherspread and promotethe interestinskatingasasportsinVietnam.Thecompanyintendedtolaunch theironestopconceptretailsshopinHanoicity,DaNangcityandHoChiMinhcityby March,2014. *Theabovecasescenarioandcontentarecreatedsolelyfor academiclearningandassessment purposesonly.Studentsareencouragedtolookforadditionalinformationandcompar isonwith othersimilartype ofcompany. AssignmentBrief: Youare towriteareport whichrecommendsan overallbestpracticeof marketingapproach forRS RocketSkatesInc.Thestructureofyourreportmusthaveanintroduction,relevant contentsanda properconclusionwhichclearlyindicateyourunderstandingandability to applyyourknowledge ofthebasicmarketingconcepts,processandimplementationof marketingdecisions. Thefollowing tasks tobeanswer: LO1(1.1) Explain eachoftheelementsof themarketingprocessneeded to be considered by RS Rocket SkatesInc.inordertosuccessfully penetrateintoVietnam? LO1(1.2) Evaluatethe benefits and costsof amarketingorientation approachforRS RocketSkatesInc.? LO2(2.1) Showwithdetailsmacroandmicro factorsthat caninfluencemarketing
    • 6 decisionsof RS RocketSkatesInc.? LO2(2.2) ProposesegmentationcriteriatobeusedforRSRocket SkatesInc.in difference markets? LO2(2.3) Chooseatargetingstrategysuitable forRS RocketSkatesInc.? LO2(2.4) Demonstratehow buyerbehavioraffects marketingactivitiesindifferent buying situationsforRS products? LO2(2.5) Proposeanew positioning strategy suitableforRS Rocket SkatesInc.? GRADING Pass is achieved by meeting all the requirements defined in the assessment criteria. Merit Identify andapply strategies tofindappropriatesolutions (M1) Characteristics / Possible Evidence – using effective approach to study conceptandmarketing processes,andthebenefitsandcostsofamarketing orientation. Select and applyappropriatemethods/techniques (M2) Characteristics/Possible Evidence–arangeofmethodsandtechniques have beenappliedtomacroandmicro-environmentalscanning, segmentation criteria, targeting strategyandbuyer behavior,andnewpositioning appropriate. Presentand communicateappropriate findings (M3) Characteristics / Possible Evidence– Anappropriate structure and approach has been used to write a professional marketing reportanda range of methodsof presentationlikecharts, diagrams, graphs areused. Distinction Usecriticalreflectiontoevaluateown work andjustify validconclusions (D1) Characteristics/PossibleEvidence–creationhasbeenusedtogenerateand justifyvalidcommentsandalsoevaluationhastakenplaceusingdefined criteria onmarketingviabilityforRSRocketSkates Inc. Takeresponsibilityformanagingandorganizingactivities (D2) Characteristics/PossibleEvidence–substantialinvestigations havebeen planned,managedandorganizedin theprocessofmarketing,environmental scanning,segmentation, targetingandpositioningoftheproductsin the desiredmarkets. PRESENTATIONFORMAT 1.Theassignmentshould haveacoverpagethatincludes theassignment title, assignmentnumber,coursetitle, module title, Lecturer/Tutor nameandstudent’s name.Attachallthepagesofassignmentbrief/coversheetwithyourreportand leavethemblank forofficial use. 2. Ensure that authenticitydeclarationhasbeensigned. 3. Thisisanindividualassignment. 4. Contentsheetwithalist ofallheadingsandpagenumbers. 5. Afullytypedupprofessionallypresentedreportdocument.Use12pointArialor Times New Romanscript.
    • 7 6. Yourassignmentshould beword-processedandstrictlyNOTexceeding3,000words excludingreferences.Thenumberofwords countMUST be indicatedatthe assignmentcoverpage. 7. Use theHarvard referencingsystem. 8. Exhibits/appendicesareoutsidethislimit. 9. Theassignmentshouldbenotcontainabibliography–butshouldcontainalistof any references usedin theassignment. NOTESTOSTUDENTS FOR SUMMISSION Checkcarefullythesubmissiondateandtheinstructionsgivenwiththeassignment. Lateassignmentswillnotbeaccepted. Ensurethatyougiveyourselfenoughtimetocompletetheassignmentbythedue date. Donotleavethingssuchasprintingtothelastminute–excusesofthisnaturewillnot beacceptedforfailure to hand-in thework ontime. Youmusttakeresponsibility formanagingyourowntimeeffectively. Ifyouareunabletohandinyourassignmentontimeandhavevalidreasonssuchas illness,youmayapply (in writing)foranextension. FailuretoachieveaPASSgrade willresults inaREFERRALgradebeinggiven. Takegreatcarethatifyouuseotherpeople’sworkorideasinyourassignment,you properlyreferencetheminyour textandanybibliography. NOTE:Ifyouarecaughtplagiarizing,youcouldhaveyourgradereducedtozero,orat worst,youcouldbe excludedfrom the course.
    • 8 Contents I. Introduction .....................................................................................................9 II. Relevant contents .........................................................................................10 LO1 (1.1): Explain each of the elements of the marketing process needed to be considered by RS Rocket Skates Inc. in order to successfully penetrate into Vietnam?..................................................................................................10 LO1 (1.2): Evaluate the benefits and costs of a marketing orientation approach for RS Rocket Skates Inc.?..............................................................13 LO2.1: Show with details macro and micro factors that can influence marketing decisions of RS Rocket Skates Inc.? .............................................14 LO2 (2.2): Propose segmentation criteria to be used for RS Rocket Skates Inc. in difference markets?..............................................................................16 LO2 (2.3): Choose a targeting strategy suitable for RS Rocket Skates Inc.?.17 LO2 (2.4): Demonstrate how buyer behavior affects marketing activities in different buying situations for RS products?..................................................18 LO2 (2.5): Propose a new positioning strategy suitable for RS Rocket Skates Inc.?.................................................................................................................21 III. Conclusion:.................................................................................................22 IV. Appendix....................................................................................................23 V. References...................................................................................................25
    • 9 Assignment I. Introduction Rocket skate Inc. (RS) is a manufacture about skate in Thailand, RS company has established since 2001, and now this are 12 years, from the small company, recently, they are a big company in Thailand, has 15 percent of the market shares.. Furthermore, they are leading manufactures, supplier of the world about skate. Orter lattgrert] the cpanaty company, t become a big arroudnd. All types of skates are made by professional between design and develop the product quantity. - RS Pricing Strategy: RS company have two main keys of product, that are Fun-series and Pro-series. The Fun series are suitable for young people who lack or start playing skate. Besides, The Pro-series are suitable for luxury customer who want to have specially designs, and values in products. The process of marketing the company's RS is highly professional, so the product should borrow strategies may be higher. the marketing of the company created the convenience, comfort million investment and the development of the outlets of the company. In the near future, the company plans to invest in a completely new market and Vietnam's potential, and projected RS brand will appear through three retail stores in Hanoi, Ho Chi Minh City, Da Nang in 2014.
    • 10 II. Relevant contents LO1 (1.1): Explain each of the elements of the marketing process needed to be considered by RS Rocket Skates Inc. in order to successfully penetrate into Vietnam? RS Company is a large company with a long tradition in Thailand and until this point has been 12 years. But Vietnam is a new market, a mix-market, a whole new market for sport Skates. So having an excellent marketing process is the most important thing for the company RS to get the success in introducing products to consumers in Vietnam market. 1. Analyze: Vietnam and Thailand are two completely different markets. So the market analysis here is completely different. Going into detail, in Vietnam, rocket skate a new sport, risky and suitable for young people who are passionate about the challenge. To be able to get big traffic to the company's shop, RS need to open a pilot store in Ho Chi Minh city or Ha Noi city before. Why is Ho Chi Minh and Ha Noi City before, because there are simply densely populated in the country, the play spaces for young many and varied. Besides, at the present time, the two companies have also invested skates into Vietnam markets as Flying Eagle and Bamskateshop. These are two of the Chinese and UK manufacturers specializing in skateboard. -Bamskateshop: there are only 4 branches shop in Ho Chi Minh city. In terms of pricing, stores have many products with different prices, variety series, design quality is pretty good assessment. The only minus point is its only store in Ho Chi Minh City
    • 11 (http:patin.vn) Price: 2.000.000VND -Flying Eagle: with the same minus point, Flying Eagle have just only store in Ho Chi Minh city. Flying Eagle Skate only services for the customer who want to be a professional with luxury skate, so price of UK’s brand is not cheap Looking standpoint customer needs, and market trends, young people are missing the skateboarding products in Hanoi. This will probably be an advantage for the RS company to invest in market is fertile. One of the first store in the center of Hanoi, with good quality, gives users two distinct product lines: Fun series and Pro series will make sure to attract a large number of customers. 2. Strategy: Strategy customer: Entering into a completely new market, every company interested in their customers, what target customers of the company's RS is? That is customer loyalty, RS company need to have the specific strategy to bring its many loyal customers. Because they are the most profitable investment, they will buy more of their products, besides maybe they will also introduce their friends to the product. So that customer loyalty must be the top strategy of the RS company Strategy Price: To be successful in a new market, RS company should have a clear strategy and clear aim to create long-term competitive advantage to rivals. With the two key products series are Fun and Pro the manufacture want to follow the different customer. Firstly Fun-series are targeted children and the teenagers who the first playing Skate. Secondly Pro-series are specially designed for professional who has more experience in this game. Furthermore Price is other key strategy of RS company.
    • 12 They want all of their customer must have ensure the absolute safety and have more choices in price. Consequently, the premium pricing strategy is adopted for all the Pro Series products and Fun Series have competitive price. Strategy in Future: RS company wanted to increase stability, gain confidence in the customer's mind in Vietnam, wants people to accept them as an international brand. The company expects to invest and sell their own products, thus spreading and promoting the interest of the customers in Vietnam to skate as a sport art. 3. Plan and Execute: These questions will be the goal of building RS company’s marketing plan. A successful RS company’s marketing plan to fully answer 7 questions Question 1: What is your marketing purpose? Question 2: What is your target market? Question 3: What are your strengths? Question 4: The benefits and competitive advantage is what? Question 5: What is your business features ? Question 6: You will use these tactics, strategies and tools to implement marketing activities? Question 7: You will spend how much money on marketing activities; budget for your marketing is how much? Plan of RS • Understanding the market and competitors: new market with 2 compertitors • Customer insights: youth and skate enthusiasts have influence on company RS • Choose the one appropriate segment: urban like Rocket skate than rural • Develop a marketing message: "one stop concept" • Way of maketing RS company choose: advertising,internet,FB • Set sales goals and marketing • Marketing budget Prepare Excute • RS company should do the Maketing in small scale with one store, combining advertising in TV or in Internet. • If the first store brings high performance, RS comapany should open more branch in Hanoi and other cities in Vietnam
    • 13 LO1 (1.2): Evaluate the benefits and costs of a marketing orientation approach for RS Rocket Skates Inc.? With a Marketing approach is marketing concept, customer-company RS is the most important factor, the product should be based on customer demand. Company RS Vietnam market access by the assertion of the brand and quality of company products. As a leading manufacturer of Rocket Skate, supplier and distributor of products world class skis, RS confident will bring the best service to customers in Vietnam. With its two product lines is Pro-series and Fun-series(All types of skates are made of genuine grade of raw material that conforms to the international standards), RS company service enough for the needs of different players, from amateur to professional with competitive price. And a special company that RS is the way they distribute their products, All lines of RS products are only sold through authorized dealers’ sports shops available in major cities. From the overview, RS company may be have two marketing orientation approach like as Marketing concept and Product concept. However Product concept in RS company is not fulfill. Because product concept enhances the quality, performance (What the customer needs) and innovation efforts. In case study, RS company’s information shows that they took care about quality and performance. In more detail, they have two series of their product are Fun-series and Pro-series for two kind of people. It’s quality and performance. But case study does not mention to the innovation of RS company. Thus marketing orientation approach of RS company is Marketing concept. Benefit RS Company Product benefits RS company provide the satisfaction the customer from their quality productsthereby increase sales of the company, bringing in profits for RS Service benefits Increase the supplier-customer relationship to be wider and promote the transaction process. Image benefits Having a good marketing and good product quality is an important step towards the development of the RS company's image in Vietnam and next step is the other national’s image, and reach to the new market in the world Relational benefits RS company finding its own loyal customers in Vietnam and connecting customer with organization Cost of RS company Money, time and energy cost: “The firm obtains revenue and incurs costs by providing benefits” (Marketing principle-page 67). to have successful, profitable, the first thing that companies should do not spend money, time and effort. RS company needs to find out what their customers like, want anything in the company's
    • 14 products. That is the cost and time to do customer research. Besides, the company also takes time and money to recruit trained staff. Customer research and manpower recruitment are two important factors that RS company need to have Psychological cost: is the reduction of cost When the change in purchasing decisions of customers by companies providing a full range of information related to products, prices and detailed composition, production, etc. for goods LO2.1: Show with details macro and micro factors that can influence marketing decisions of RS Rocket Skates Inc.? 1. Micro Factor Marketing: Strengths Weaknesses -A new company with the professional in Thailand and in the world -Variable product and competitive price, different designs -All products are original and are made by raw materials that conform to the international standard. -Lack of experience whenthe first invested in Vietnam -Have no loyal customers Opportunities Threats -Vietnam is one of the developing economies in Southeast Asia, has an open door policy, so the company will enter the market RS Vietnam easier -In Vietnam, people tend to use high- quality products, eye-catching and beautiful. in Vietnam, having many Supermarkets of Thailand, it's easy to introduce RS products -Different competitor companies, specialism from China’s products and UK’s products -RS The company's products are professional products, but in Vietnam the lack of places to play sport, young people often have to slide on the road quite dangerous. Few investors are willing to invest a playground for the young professional - The Vietnam’s weather is not good
    • 15 2. Marco Factor Marketing: Political analysis: Thailand is a country with the political instability, frequent disputes between political parties. In contrast to that, Vietnam is a perfect market for investors like RS company because the mechanism is a party leaders. The people here love peace, country does not have war. If RS company invests in Vietnam, they will have a stable future, don’t need worry about distribution product. Economic analysis: -In Vietnam, income per capita annual growth, income per capita annual growth demonstrates the living standard of the people of Vietnam annual growth, for avoid prevent product from musty.
    • 16 to many people in the middle class and richer, poorer less. Thus people in Vietnam will interest in playing skate. In addition, the CPI in 2012 increased compared to the previous year, indicating the purchasing power of the people is rising by annual - The marketing scale:Vietnam is a country with a population increase, reaching a total of nearly 90 million people, the population structure of Young labor. And that is the strong point for the RS company may develop in Vietnam because Rocket is a sport skate fit youth. - The number of workers in Vietnam so much more, this is the basis for future GDP growth. When access to the Vietnam market, company RS can easily find the qualified employees. In addition, the number of women workers is relatively large, this is the object that RS marketing company need most to marketing, because they are the people who willing pay money to but rocket skate Technological analysis: - RS company should have a system to save the people who have bought their products. This will cornerstone to review Loyalty Customer. - RS company should focus on paying by bank card because in Vietnam, people like to pay their money by card. Environmental and Social analysis: have less impact analysis to the RS company should or should not invest in Vietnam Legal analysis: -Vietnam’s legislature confirms they will reduce the corporate income tax rate in 2013. The tax will cut from 22 to 25 percent to encourage the investment of foreign company. -Prime fashioned review identified nine types of goods and services sold to companies in the EPZs, such as insurance, banking, postal, telecommunications ... VAT tax rate of 0% instead of 5% as Decree 158/2003. LO2 (2.2): Propose segmentation criteria to be used for RS Rocket Skates Inc. in difference markets? Market segmentation must focus on the marketing mix (4P’s), RS company may divide its market based on three types of customers, customer groups, customer groups based on needs, target customer. Criteria of marketing segmentation for RS company are geographical, demography, psychographic, behaviorism. Firstly, geographical, RS company will take the store in three big city ( Da nang city, Ha noi city, Ho Chi Minh city ). This is good for RS company for distributing products easily. Secondly, demography, RS company should focus on younger customers. Because they are willing to pay money to get RS company's products, because they are interested in the design and quality of the skate. Thirdly, psychological, If RS company want to sell more and more and products in Vietnam, they need to create crowd effect. Because all people in Vietnam have psychological curiosity when they see a crow. Lastly, Behaviorism is the same life style, trends of customers who are followed by RS company.Based on the actual situation, with a potential market like Vietnam, RS company should combine geographical and demographical so there may be a market segmentation strategy in Vietnam. This combination for the RS company a new vision, a customer orientation and age appropriate for the company's products
    • 17 LO2 (2.3): Choose a targeting strategy suitable for RS Rocket Skates Inc.? From the manager Marketing’s view of RS company, a targeting strategy suitable must be accessed by the point of marketing mix coordinate with differentiated. And the most important thing is creating more loyal customers to RS company. Place: the manager should retail the office or store near playing place. Price + Product: From general and best view RS company should choose the differentiated strategy. Recently, In the world, Apple is a big company, their strategy is differentiated. They just focus on the product, quality of their service, product. They want their product to become the best in the world, they add more value into their product, if the customer love that, price of product will not be a problem,
    • 18 Apple will be price maker. Apply for RS company, they should take care more and more about their product, if the customer in VN love RS product, they will pay any money to buy that. To more detail product of RS company, they have two kind of products are Pro-series and Fun-series. If the choose their strategy is differentiated they should focus on Pro-series. RS company add more and more value in Pro-series to make attract by young customer, they will buy it even Pro-series are too expensive. Promotion: Advertising is the best way to introduce RS’s product to customer. People: RS company should use entrepreneurial structures, all power around the owner manager for easy to control employees. Process: In the first time, RS company use the products that were bring directly from Thailand. After getting achievement in Vietnam, they should take a factory in here, company will discount the price to travel product from Thailand to Vietnam Physical Environment: Facilities of store, company that manager should take care. From designing view of store with air conditional, etc. RS company target is equip facilities for customer to be satisfaction. LO2 (2.4): Demonstrate how buyer behavior affects marketing activities in different buying situations for RS products? A. B2C (Business to Customer) Choosing Pro-series are the main products to develop the RS company in Vietnam. Above model is SPR (SOR) model-customer to show how buyer behavior affects marketing activities of RS company. Stimulus Process Response Culture Social influence Reference group Marketing mix Psychological factors Physiological factors Perceptions and feelings Attitudes and beliefs Buying behaviors Buying practices
    • 19 1. Stimulus: Factors affecting stimulating of consumers to buy such RS products must tell culture, social influence, reference group and marketing mix. Perhaps influenced by factors that are most important are social influence and marketing mix with the below details. 2. Process: Regarding Maslow’s Hierarchy of Needs 3. Response:After having particular analysis about the marketing, customer will having response with market. This is called is B2C of marketing. This is time that customers choose the product or company is at the company's marketing process give the results. Based on all these factors, firm-level information about the product, it is time the customer has decided to spend the money to buy the pro-series products of companies or not. Psycholog ical factors Motivation Learning Attitudes Perceptio n Need recognition Information search Evaluation of alternatives Purchase decision Post- purchase evaluation
    • 20 B. B2B (Business to business) When marketing to business, the logic of the product by focusing more on functional characteristics. Emotional factors in the decision process usually does not play an important role. Therefore, with B2B, there are factors influence organizational buying behavior with RS’s product - Environment forces: Economic outlook: domestic and global of RS company - Organization Forces: Goal, objectives and strategies of RS company It is from the above factors, a business customer can evaluate and purchase decisions of the company RS OrganizationBuyingbehavior Environment Forces Organizational Forces Individual Forces Group Forces Problem Recognition General Need Description Product Specification Value Analysis Supplier Search Proposal Solicitation Supplier Selection Order-routine specification
    • 21 LO2 (2.5): Propose a new positioning strategy suitable for RS Rocket Skates Inc.? Current position strategy of the company RS is so simple, so look on the aspect as a marketing people, company need to change their strategy confirm position in the market in Vietnam Product and Price Positioning Strategy: “High Price” “Low Price” With two major product lines, RS company can assert its position in the market through product, price and quality of the product. Products of RS company are in both the mid-range segment and luxury segment. Luxury goods, the quality and the price is also high. With mid-range segment, the product will have cost less than luxury but the quality will not high. However the provision of adequate information and the quality of the product, combined with the suitable marketing strategy, RS company can fully assert its position on the Vietnam market.This approach can make a difference in the brand for the company's products, the advantages of this approach in the long term and short term will help the company gain trust from customers. That is the best positioning strategy for the RS company. “Low Quality” Pro series “High quality” Fun series
    • 22 III. Conclusion: In sum up, this assignments provide the most objective assessment of the marketing problem when a new company invest in Vietnam's market, specially companies RS company, a company with professional in skate. Looking perspective to marketing professionals, RS company has full weaknesses, strengths and opportunities and threat for development in Vietnam with customer segment diversity. Vietnam is a new market potential, development in Vietnam will also help the RS company can trade with different markets and expanding business in the ASEAN region.
    • 23 IV. Appendix LO2.4: 1. Stimulus: With a product line of the company Pro RS , stimulating young people to buy products not difficult . That depends on the Cultural Factors . First to mention is that personal preferences of the young when they want to own a luxury branded product RS . Besides, not to mention the crowd effect . If in a group with the same interests , the same view , play together and someone purchase a RS products, make sure the other members will also buy products company Pro -series . It is not too unusual in Vietnam, while the appearance and Facebook community page will have more young people known for RS skate brand if a member who has more followers of that community to share information like " I bought the Pro -series products , and it is best skate I have ever love" (Reference groups plus secondary groups). In other case of social factors, primary groups, in a family have two kid or twin kid, one child buy RS product, the other still buy it. 2. Process: Regarding Maslow’s Hierarchy of Needs 1) Self-Actualization: a consumer's self-development and realization 2) Esteem: a consumer's sense of self-esteem, self-recognition, and social/economic status in the world 3) Social: a consumer's sense of belonging and feeling loved in their environment 4) Satisfaction: a consumer's sense of security and level of protection in their environment 5) Physiological: a consumer's basic need for food, water and shelter The level of demand increases from 1 to 5. RS company need to remember that motivated people are ready to buy. This is a hierarchy of satisfaction of customer. RS marketer should find their information about customer where they are to have a suitable process. Because, Skate is a sport, with the customer, when they satisfaction general needs like food, water, love, family, etc. they will think about playing sport. Next to the perception, “How a consumer determines what they will buy is heavily influenced by their perception of the situation they are in at that moment in time” http://marketmedialife.blogspot.com/2012/11/marketing-101-pyschological-factors- of.html . One of the most massive forms of environmental stimuli is advertising. RS company should create a special ads and a slogan. Slogan and ads is very important, because it helps customer to remember this product. For example, Sony’s Slogan “Make. Believe”, Apple’s slogan “Think different”. 3. Response: After having particular analysis about the marketing, customer will having response with market. This is called is B2C of marketing.This is time that customers choose the product or company is at the company's marketing process give the results. Based on all these factors, firm-level information about the product, it is time the customer has decided to spend the money to buy the pro-series products of companies or not. A. B2B (Business to business) When marketing to business, the logic of the product by focusing more on functional characteristics. Emotional factors in the decision process usually does not play
    • 24 an important role. Therefore, with B2B, there are factors influence organizational buying behavior with RS’s product - Environment forces: RS company choose Pro-series is the main product, a promising product line while developing in Vietnam. In Thailand, the RS has a certain image in the eyes of consumers, now expanded to a customer is business, frankly, not only in Vietnam, Pro-series has many prospects development in the world - Organization Forces: RS company want to start with premium product like Pro-series to begin the scale become a big company about skate in Vietnam. Besides RS company want people think skate as the sport, a new sport. - It is from the above factors, a business customer can evaluate and purchase decisions of the company RS LO2.3: • Place: the manager should retail the office or store near playing place. For example, as the RS company’s plan, they will take place at three big cities in Vietnam are Ha Noi, Da Nang, Ho Chi Minh. But the question is Where is the store in that cities. Like a manager’s marketing of company, RS company should take their place near Mi Dinh stadium, Thong nhat park or somewhere are same. Because when the customer buy their product, they can have a good views and good place to try immediately. • Price + Product: From general and best view RS company should choose the differentiated strategy. Recently, In the world, Apple is a big company, their strategy is differentiated. They just focus on the product, quality of their service, product. They want their product to become the best in the world, they add more value into their product, if the customer love that, price of product will not be a problem, Apple will be price maker. Apply for RS company, they should take care more and more about their product, if the customer in VN love RS product, they will pay any money to buy that. To more detail product of RS company, they have two kind of products are Pro-series and Fun-series. If the choose their strategy is differentiated they should focus on Pro-series. RS company add more and more value in Pro-series to make attract by young customer, they will buy it even Pro-series are too expensive. • Promotion: Advertising is the best way to introduce RS’s product to customer. Manager of company should use hi-tech or social network to introduce their product because the main customer is young people. Besides, when they open the shop, they should have sale promotional per month to attract the customer. One side, RS company may focus on the main customer is Royal customer than other customer to encourage the customer to be royal customer. • People: RS company should use entrepreneurial structures, all power around the owner manager. Because RS company is the new company in Vietnam, begin growing, this structure is really good. Besides, when interviews employees, they must notice with attitude of employees when they service customer.
    • 25 V. References. References Anon., 2012. [Online] Available at: http://www.mof.gov.vn/portal/page/portal/mof_vn/ttsk/3312584?pers_id=21770 92&item_id=80619834&p_details=1 [Accessed 29 september 2013]. Anonymous, 2013. [Online] Available at: http://www.empowernetwork.com/bimbim/blog/5-secrets-to- build-your-customer-loyalty/ [Accessed 29 September 2013]. Ngọc, M., 2013. [Online] Available at: http://baodientu.chinhphu.vn/Gop-y-Hien-ke/GDP-binh-quan-dau- nguoi-dang-tien-toi-moc-1900-USD/178582.vgp [Accessed 29 september 2013]. Ltd, B. H., 2013. [Online] Available at: http://www.boldhorizon.co.nz/market-positioning.php [Accessed 25 September 2013]. A.I.O.U.PAKISTAN, 2010. [Online] Available at: http://www.slideshare.net/waseembhatti/the-marketing-concept [Accessed 28 september 2013]. Dave Samuels, D. M., 2013. [Online] Available at: http://smallbusiness.chron.com/examples-positioning-strategy- marketing-10166.html [Accessed 27 september 2013].