Marketing Assignment of Lovely Lace
Table of contents
INTRODUCTION 2
CONTENT I. Basic concept of marketing 1. Definition of marketing 3-5 1.1 Compare alternative definitions 3-4 1.2 Importance of being a contemporary marketer 4-5 2. Main characteristics of a market orientated organization for today’s modern business 6-8 3. The elements of marketing concept 9-10 4. Benefits and cost of a marketing approach for Lovely Lace 10-12 II. Contents 1. Micro and macro environmental factors, which influence marketing decision affecting Lovely Lace 13-17 1.1 Macro-environment 13-14 1.2 Micro-environment 14-17 2. Propose segmentation for Lovely Lace in two different markets 18-19 2.1 B2B market 18-19 2.2 B2C market 19 3. The factors influence the choice of targeting strategy for Lovely Lace 20 4. Effect of buyer behavior on marketing activities for Lovely Lace 20-23 ( Individual customers 22 ( Business customers 22-23
CONCLUSION 24
INTRODUCTION
Recent years, Vietnam has been considered as a bright market, which is Asia’s second fastest growing economy, only after China. According to a forecast in December 2005 by Goldman-Sachs, “Vietnamese economy will become the 17th largest economy in the world with nominal GDP of $ 436 billion and nominal GDP per capita of 4,357 USD by 2025”[1]. In addition, according to a forecast by the PricewaterhouseCoopers in 2008, “Vietnam may be the fastest growing of emerging economies by 2025, with a potential growth rate of almost 10% per annum in real dollar terms that could push it up to around 70% of the size of the UK economy by 2050”[2]. Therefore, there are more and more foreign companies want to try in this new market, including Lovely Lace, a gift company from Malaysia. Lovely Lace is a quite new brand for Vietnamese customers, but in fact
INTRODUCTION 2
CONTENT I. Basic concept of marketing 1. Definition of marketing 3-5 1.1 Compare alternative definitions 3-4 1.2 Importance of being a contemporary marketer 4-5 2. Main characteristics of a market orientated organization for today’s modern business 6-8 3. The elements of marketing concept 9-10 4. Benefits and cost of a marketing approach for Lovely Lace 10-12 II. Contents 1. Micro and macro environmental factors, which influence marketing decision affecting Lovely Lace 13-17 1.1 Macro-environment 13-14 1.2 Micro-environment 14-17 2. Propose segmentation for Lovely Lace in two different markets 18-19 2.1 B2B market 18-19 2.2 B2C market 19 3. The factors influence the choice of targeting strategy for Lovely Lace 20 4. Effect of buyer behavior on marketing activities for Lovely Lace 20-23 ( Individual customers 22 ( Business customers 22-23
CONCLUSION 24
INTRODUCTION
Recent years, Vietnam has been considered as a bright market, which is Asia’s second fastest growing economy, only after China. According to a forecast in December 2005 by Goldman-Sachs, “Vietnamese economy will become the 17th largest economy in the world with nominal GDP of $ 436 billion and nominal GDP per capita of 4,357 USD by 2025”[1]. In addition, according to a forecast by the PricewaterhouseCoopers in 2008, “Vietnam may be the fastest growing of emerging economies by 2025, with a potential growth rate of almost 10% per annum in real dollar terms that could push it up to around 70% of the size of the UK economy by 2050”[2]. Therefore, there are more and more foreign companies want to try in this new market, including Lovely Lace, a gift company from Malaysia. Lovely Lace is a quite new brand for Vietnamese customers, but in fact