If someone is operating a retail store, the geographic location of the business is one of the key considerations (Wang, & Tran, 2014). First, identify the location of potential consumers as Vinamilk deals with milk products, geographic location will remain the main element in segmenting their target markets since more of their clients who are located in urban, town, and city areas. Only a few consumers of the company's products are living in the rural areas. Although they are doing business in most parts of the world, their products are still missing in some areas (Dang, 2014) Potential clients are classified by criteria such as occupation, age, marital status, family size, income level, gender, education level, religion, and race. Vinamilk chooses those features of the demographic target market that connects to the ability, interest, and need of the consumer to buy their commodities.
Vinamilk offers products based on the trusts, emotions, and attitudes of their target market. The want for status, improve appearance and extra money are cases of psychographic variables. They are the elements that impact Vinamilk consumers buying choice. Company consumers or customers are described by psychographic words. Some business regard themselves as high tech or cutting edge, while others view themselves stable, strong and socially responsible. Goods are purchased for a range of purposes. Vinamilk directors should determine what those reasons are, loyalty, brand, how frequently, cost and which period of year clients in a segment consume and use goods.
Over the years, Vinamilk understands well the purchasing behaviors and patterns their consumers. Vinamilk targets youngsters aged 5-14 with average income parents. Here are several reasons for Vinamilk to select this segment. Children between (5-14 years) take a lot of milk more than the others for their physical growth, in Vietnam children population accounts for only 24.1%. Therefore, Vinamilk targeting these children gets a high profit. Currently children in smaller Asian families impacts on the family's businesses. Lastly, Vinamilk chose to focus on average class youngsters since Vietnam is a lower average-income nation. This segment is key potential consumers for Vinamilk.
The competitive advantages of companies are, firstly, the production method of Vinamilk is very successful and hence producing well-processed milk. Secondly, it's the only dairy firm in Vietnam which owns machines and systems that uses the eject-desiccation technology by Niro -Denmark.Thirdly the company maintains and promotes its products for the future.
The marketing mix is also called a tool for decision making in cocern to promotion, price, place and product in the project procedure of a commodity or a brand (Wang, & Tran, 2014). This procedure is built on the principle of 4PS. In the promotion strategy, advertising is known as a strategic plan in the maintenance or the achievement of a competitive advantage in the market. For the company to ensure that all their products get to their target consumers, Vinamilk has applied all the advertising means like newspapers and the broadcast media. Additionally, Vinamilk utilizes public relations such as scholarship fund for Vietnam's young talents. Vinamilk devotes much of its dedication to the program. Vinamilk also applies personal selling strategy. This involves the personal representation by the company's sales team. Such strategy helps in building a stronger customer relationship. Personal selling involves direct selling with the customers or in other cases; it includes the use of emails or phone.
In conclusion, this information provides an image of how significant process organization has added to the victory of Vinamilk in the Vietnam market and in turn making it the leading milk production corporation in Vietnam. Vinamilk knows what is valuable for its consumers and hence provides a wide range of products, reliable delivery, high quality and a stable cost (Thanh, 2012). Also, the method it uses to deliver and produce its commodities is the best for the market. Is also depicted that Vinamilk has successfully positioned itself in its target market and hence getting a lot of customers for its products. These has been achieved through the use of advanced technology, taking advantage of its available opportunities and mitigating its threats and risks.
Dang, T. (2014). The success of applying marketing mix 4Ps in Vietnamese dairy industry: Vinamilk-a typical case.
Giau, B. T. N. (2012). The effects of Vinamilk's advertising and public relation on repurchase intention through brand awareness and consumer's perception (Doctoral dissertation, International University HCMC, Vietnam).
Wang, L. W., & Tran, T. T. (2014). Vietnamese Milk Industry Forecasting: A Grey System Theory Case of Vinamilk. International Journal of Asian Social Science, 4(6), 779-790.
Nguyen, Q. T., Wongsurawat, W., & Beise-Zee, R. (2016). Vertical Brand Extension at Vinamilk, Vietnam. Asian Case Research Journal, 20(02), 331-350
Thanh, N. N. D. (2012). Relationship between brand awareness, perceived quality, trust, value, loyalty and brand equity: a case study. AU-GSB e-JOURNAL, 5(2).
Cite this page
Marketing Essay Example: Geographic Location of the Business and Its Customers. (2022, Oct 04). Retrieved from https://speedypaper.com/essays/marketing-essay-example-geographic-location-of-the-business-and-its-customers
If you are the original author of this essay and no longer wish to have it published on the SpeedyPaper website, please click below to request its removal:
- Domestic Violence in Nurses - Research Paper Example
- Juries Definition Essay Example
- Personal Statement Essay Sample
- Free Essay - Criminal Punishment for Adolescent Cyberbullying
- Essay Sample: Competitive Ability to Acquire Surgical Robot Unit
- Compare Essay Example: Medieval and Modern Werewolf
- Prejudice: Negative Evaluation of Others Based on Group Membership. Essay Example