Marketing plan for the entry of new product Burger King – Fast food into Vietnamese market Length: words
This report present the marketing plan for the entry of Burger King a new type of fast food into Vietnamese market. • First of all is the introduction about new product.
• The following is marketing environment analysis.
• Stage of identify target customers and targeting marketing strategy is the next parts. • Then the choice of product position is mentioned.
• Last of the report is the plan to develop 4P’ program.
II. Marketing plan
1. Marketing environment analysis
2. Target customers
2.1 Target customers in consumer market
2.2 Target customers in business market
3. Identifying the target marketing strategy
4. Determining the positioning for the product
5. Developing 4P’s program
IV. Reference list
The purpose of this report is to state the marketing plan to introduce a new product in Viet Nam. This product is Burger King – a kind of fast food. The BURGER KING (BK) franchise was founded by James McLamore and David Edgerton in 1953 in United State. Flame-Broiled beef begins fulfilling its destiny. its menu predominantly consisted of hamburgers, french fries, soft drinks, milkshakes, and desserts.
After being acquired by its Miami, Florida franchisees and renamed in 1954, BK began expanding its menu by adding the Whopper sandwich in 1957, and has since added non-beef items such as chicken, fish, and vegetarian offerings, including salads and meatless sandwiches. As the company expanded both inside and outside the United States, it introduced localized versions of its products that conform to regional tastes and cultural or religious beliefs. Today, BURGER KING appears in many countries in the world like Canada, Mexico, Argentina, Brazil, Italy …. But not yet in Viet Nam market. Therefore, my group is building a marketing plan for the entry of this product into Vietnamese market.
II. Marketing Plan
1. Marketing environment analysis
1. Competitors Forces
There are already many types of fast food in Vietnamese market and the big market shares are now in the hands to KFC, Lotteria, the fast food brands, which are very familiar to Vietnamese customers … Those companies take the advantages about early appearance in Vietnamese market, also their menus are delicious and loved by the young people. KFC primarily sells chicken pieces, wraps, salads and sandwiches, Lotteria's menu includes typical fast food items such as burgers, fried chicken, chicken wings, chicken fingers, iced coffee, baked potatoes, yogurt, salads, cheese sticks.
They have operated in Vietnamese market for a long time, that’s why when entering this market, BK faces a lot of difficulity . BK’s products must be different from products of its competitors, show its charateristics and creat a difficult competition with rivalries and new entries.
1.2 Economic forces
Vietnam is a developing country with a highly economic growth rate. Income and living standard are much higher in recent years. Vietnamese customers now put more attention on how to enjoy life than just satisfy the minimum demands, especially in urban areas. Customers, mostly the young people are now ready to pay for a delicious and convenience meal which does not only take them a lot of time but also make them feel comfortable to have room to chat with friends and even for personal or team work. These criteria are appropriate to what BK are doing over the world, thus this is an is opportunity for BURGER KING to entry.
The policy of the ministries of Vietnam is to unity together to build Vietnamese economy with orientation of industrialization and...