A/ ASSIGNMENT RECAP

●     Choose a brand

●     SWOT Analysis and TOWS Matrix: Conduct a SWOT analysis based on 4-6 chosen Micro and Macro factors from your marketing environment scanning. Then, summarize this into your SWOT analysis, ensuring relevance to the marketing context.

●     Choose one strategy (SO/ST/WO/WT) from the TOWS matrix that aligns with your marketing objectives and recommendations.

●     Differentiation and Positioning: Analyze the current differentiation and positioning strategies of your company, supported by strong research.

●     Current Marketing Mix Performance

●     Marketing Objective: Set one SMART marketing objective based on your TOWS analysis and the evaluation of the two elements of the marketing mix. This objective should be relevant to the marketing context.

●     Marketing Recommendations (2Ps): Provide recommendations to achieve your marketing objective using the two selected elements of the marketing mix. Ensure these recommendations are contextually relevant and supported by visuals and case studies where applicable.

●     Provide recommendations for the brand

-        Marketing Context: Tet 2024 in Vietnam

-        Duration of the marketing plan: 2 – 4 months

Here is the suggested structure:

1)    Introduction

2)    Marketing Environment and SWOT analysis

3)    Target Customer

4)    Differentiation and Positioning

5)    Current Marketing Mix performance

6)    Marketing objectives

7)    Recommendation

B/ KEY TERM DEFINITION

SWOT analysis: A strategic planning tool used by individuals or organizations to identify and evaluate their Strengths, Weaknesses, Opportunities, and Threats. Here's a breakdown of each component:

●     Strengths: These are internal positive attributes or resources within an individual or organization that provide an advantage, such as skilled personnel, strong brand recognition, unique products, or efficient processes.

●     Weaknesses: Internal factors that are disadvantageous or need improvement fall under weaknesses.

●     Opportunities: External factors that could be advantageous if capitalized upon fall under opportunities, such as emerging trends, market changes, new technologies, or any situation that presents a chance for growth or improvement.

●     Threats: External factors that could potentially cause trouble or harm to an individual or organization. Threats might come from competitors, market fluctuations, regulatory changes, or any other factors that could hinder progress or success.

There are 6 micro-environment factors: 

●     The company (The relationship between the marketing department and other departments of the company)

●     Suppliers (provide needed resources to produce goods. For example, to produce snacks, suppliers of potatoes are involved in)

●     Marketing Intermediaries (Marketing intermediaries help the company to promote, sell, and distribute its products to final buyers. There are 4 types of intermediaries: Resellers, Physical Distribution Firms, Marketing services agencies and financial intermediaries)

●     Competitors (There are 2 types: direct & indirect competitors. Direct: similar products; indirect: different products but same function)

●     Publics (any group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives such as media, Government, citizens...)

●     Customers. 

There are 6 macro-environment factors:

●     Demographic (location, age, gender, family structure, educational characteristics, and population diversity)

●     Economic (Income, Consumer spending pattern)

●     Natural (Involves the natural resources that are needed as inputs)

●     Technological (Latest trend, technology they used to produce goods)

●     Politics (Laws, government agencies, decree...)

●     Cultural (Cultural environment consists of institutions and other forces that affect a society’s basic values, perceptions, and behaviors)

Marketing Mix: 4Ps model

●     Product: This refers to the goods or services offered by a company. It involves not only the physical product but also its design, features, quality, branding, packaging, and any associated services that accompany it.

●     Price: This includes the amount of money customers are willing to pay for a product. Setting the right price is crucial as it influences perceptions of value, affects sales volume, and ultimately impacts revenue

●     Place (Distribution): This aspect involves getting the product to the customer.

●     Promotion: Promotion includes the various methods used to communicate and persuade the target audience about the product, such as advertising, sales promotions, public relations, personal selling, and other promotional activities

SMART Objective:

●     Specific: Objectives should be clear and precise, avoiding ambiguity. They answer the questions of "who, what, where, when, why, and how." Specific objectives outline exactly what is to be accomplished.

●     Measurable: Goals need to be quantifiable or have some form of measurement to track progress and determine when they have been achieved. Measurable objectives help in assessing success and evaluating progress.

●     Achievable: Objectives should be realistic and attainable given the resources, time, and capacity available. While they can be challenging, they should not be so ambitious that they're unattainable.

●     Relevant: Objectives must be relevant and aligned with the broader goals of an individual, team, or organization. They should contribute to the overall strategy and mission.

Time-bound: Goals need to have a defined time frame or deadline. This creates a sense of urgency and helps in managing time and resources effectively.

C/ Detailed guideline

1.    Introduction (150 words)

Briefly introduce the company and the chosen product.

Tips for choosing the company and product:

●     For company: (Criteria to choose are ranked from Highly Important to Least Important)

○     Information and data of that company are easy to find on the Internet (It may not need to be too famous, but not too small or start-up)

○     The company is of the industry that you are familiar with/interested in, which is easier to write more in-depth and insightful

Example:

Fanta is owned by The Coca-Cola Company, a multinational beverage corporation headquartered in Atlanta, Georgia. Established in 1892, Coca-Cola is renowned for its flagship product Coca-Cola, and it has since expanded its portfolio to include a wide range of soft drinks, waters, and other beverages. The company has a significant global presence, operating in more than 200 countries and offering a diverse array of drink choices to cater to varying consumer tastes and preferences. Fanta, as one of its popular brands, exemplifies Coca-Cola's commitment to innovation and adaptability in the beverage industry. (The CocaCola Company, 2023)

●     For product:

○     Choose a product, not a service

○     Not too “lowkey” product, data and information of the product is not difficult to find

○     The product should have a clear message to the target customers. For example, “CLEAR Men 3X Sức Mạnh đánh bay Gàu Ngứa” (The message should point out the customer pain point that they are going to address)