We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Vietnam Manufacturing Export Processing (Holding) Limited Assignment

(1.a) Marketing was born in background of Pre-modern Economy in order to solve contradiction between needs and wants. Marketing appeared in United States America first, and then it spread other countries. There are many definitions of marketing. However the main purposes of these defections are the mutual satisfaction of both supplier and customer.

“Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others”

Kotler (1999)

The important addition in this definition is needs and wants are satisfied. The major addition is the phrase of value, and as this is an important aspect of marketing.

We will write a custom essay sample on Vietnam Manufacturing Export Processing (Holding) Limited specifically for you
for only $16.38 $13.9/page

Order now

“Marketing is the management process which indentifies, anticipates and supplies customer’s requirements efficiently and profitably.”

Chartered Institute of Marketing (cited in BPP, 2004)

CIM definition emphasizes the wide scope of marketing, ranging, from initial identification of customer needs by means of research, right through to eventual, profitable satisfaction of those needs.

“Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideals, goods and services to create exchanges that satisfy individual and organizational goals.”

American Marketing Association (cited in BPP, 2004)

The definition expands on the previous one and considered what is involved in marketing to satisfy both the customer and company. This definition serve to demonstrate useful distinctions between marketing as a thing that is done and marketing as an approach to how something is achieved.

“Marketing is the process of the determining consumer demand for a product, motivating its sale and distributing it into ultimate consumption at a profit.”

The definition emphasizes at profit which is one of the key objective of most organizations, if not in the short-term then certainly in the longer-term. There are two key aspects:

Make sure that the income from sales exceeds costs so that the product gives a good rate of return and conversely, ensuring that costs including marketing costs are properly controlled.

(1.b) VMEPH Company is oriented good at marketing activities which it focuses on the customers who are at the top of the company chart. It works to understand who its customers are and what the customers want, and every organizational strategy and practice supports a long-term approach to the vendor-customer relationship. Instead of pushing products, the organization tries to identify and provide solutions to meet customers’ needs. Continuous reading and analysis of the marketplace enables them to adapt, promote, and differentiate its products and services.

Resource: (Enterprise Automation group, accessed 2008).

(1.c) The marketing concept is a philosophy. Firstly, it makes customers and tries to understand what they need, want and demand:

Need is state of felt deprivation for basic items such as food and clothing and complex need such as for belonging. (Kotler, 2001, cited in Veeramuthu, 2008).

Want is form that a human needs take as shaped by culture and individual personality. (Kotler, 2001, cited in Veeramuthu, 2008).

Demand is a human wants backed by buying power. (Kotler, 2001, cited in Veeramuthu, 2008)

Then has to supplies and satisfies their needs and wants. Consumer’s needs and wants will be satisfied by Products and Services.

Products are anything which can be offered to a market for attention, acquisition use or consumption and that might satisfy a need or want. (Kotler, 2001, cited in Veeramuthu, 2008).

Services are activities or benefits offered for sale that are essentially intangible and do not result in the ownership of anything. (Kotler, 2001, cited in Veeramuthu, 2008).

From there, it creates customer value and customer satisfaction.

Customer value is benefit that the customer gains from owning and using a product compared to cost of obtaining the product. (Kotler, 2001, cited in Veeramuthu, 2008)

Customer satisfaction which depends on the product’s perceived performance in delivering value relative to a buyer’s expectations. Linked to quality and total quality management (TQM). (Kotler, 2001, cited in Veeramuthu, 2008).

From there, it can create exchanges, relationships and transactions.

Exchanges are activity of obtaining a desired object from someone by offering something in return. (Kotler, 2001, cited in Veeramuthu, 2008)

Transactions are trade of values between parties. Usually involves money and a response. (Kotler, 2001, cited in Veeramuthu, 2008)

Relationships are bulding long-term relationships with consumers, distributors, dealers and suppliers. (Kotler, 2001, cited in Veeramuthu, 2008)

Picture of Core Marketing Concepts (Kotler, 2001, cited in Veeramuthu, 2008)

(1.d) In Vietnamese situation of economy at present, benefit and cost of a marketing approach which it aids company has a knowledge about its competitors and surveys market and business activities in order that the company can satisfy customer’s requirements efficiently and profitably. A marketing system can solve contradiction between market and company well.

In addition, a marketing system can help a company adapt to market changes through by applying policies:

* Product policy: Is all of the ways which companies do to make the right products in the right markets at the most appropriate time.

* Pricing policy: Are rules of product cost which companies set. If the companies have the right rules, their selling activities will make a lot of profits.

* Distributing policy: Are rules which companies set to get goods and services to consumers most rapidly and efficiently.

* Promoting Policy: are methods companies do to appeal to consumers. It will create advantages to sale products more promptly and more easily.

Company also applies Marketing functions:

* Survey potential needs of market and forecast development of market in the future.

* Grasp market changes to control market strategy and product strategy positively.

* Understand adaptability of product when market is changing.

* Improve business efficiency: the efficiency has to be expressed at two aspects:

o Satisfy customer’s requirements

o Make a profit.

Resource: Th�i, N (2007)

With all of the things are written above, the following, we are researching Vietnam Manufacturing Export Processing (Holding) Limited (“VMEPH”), one of the leading manufacturers of scooter and cub motorbike in Vietnam so that we can have an understanding about good its marketing concept and practice.

(2.a) The following, we are identifying and explaining macro and micro environmental factors which might influence VMEPH Company. Firstly, that is macro environmental factors which are known as PEST factors:

Political and legal factors: In order to execute rules as a member of WTO, Vietnam took down discrimination against import levy. Vietnam began to distribute and use motorbikes which have engine from 175cm3 to more. Import levy is reduced 30% within from to 2012, motorbike engines and parts are decreased from 50% to 35% within from to 2010. On 01/01/2009, Vietnam will have to open domestic market so that all foreign firms import and distribute their products. That is the good signal and opportunity for foreign corporations and companies, because Vietnamese Market is always the target market of many organizations. Vietnam will also support companies through by policies:

* Favors tax with branches of engineering and electricity. Therefore, they will indirectly assist motorbike companies because the companies can buy parts with cheaper cost.

* Support to companies borrows funds on stock market by reducing register clauses in order to release stock or post up stock cost.

* Support to motorbike firms design product styles and branches through by opening advertising programs, promoting and expanding export market.

* Favor income tax of companies with applying high-technology and unharmed environment.

* Sponsor activities of developing and studying motorbike.

Besides supporting companies, Vietnam will also conduct to the companies by policies:

* Companies and corporations operating in Vietnam are sure that their products must reach to ISO-9000 quality. (Vietnamese rules of engines and parts technique-quality released).

* Continuing to reinforce market monitoring and against smuggle and cheat in motorbike business.

* All Products have to be verified its quality by Ministry of Technology and Commerce.

Resource: (vietnamnet, accessed 2008)

Economic influences: According to Vietnamese economic analyzers, Vietnamese economy is stable and developing. In 2007, GDP growth of Vietnam reached to 8.44% and ranked third of Asia, behind China (11.3%) and India (9%).

How to cite this assignment
Choose cite format:

Vietnam Manufacturing Export Processing (Holding) Limited. (2017, Dec 29). Retrieved from https://primetimeessay.com/vietnam-manufacturing-export-processing-holding-limited/

We will write a custom essay sample onVietnam Manufacturing Export Processing (Holding) Limitedspecifically for you

for only $16.38 $13.9/page
Order now