Marketing Intelligence About Children's Toy in Vietnam

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I. Introduction:...................................................................................................................2 II. Detail:.............................................................................................................................2 Task 1: assess current and potential market size and demand

1a) Identify market size growth and trends within a given market......................................2 1b) plan and carry out a competitor analysis for a given organization................................4 1c) Evaluate an organization’s opportunities and threats for a given product or service....7 Task 2: Discuss the importance of customer satisfaction and feedback 2a) Identify and evaluate techniques of assessing customer response.................................9 2b) Design and complete a customer satisfaction survey....................................................6 III. Conclusion:..................................................................................................................8 IV. Reference list:...............................................................................................................9 Word account:

I. Introduction:
Children’s toys have been sold quite well in recent years in Vietnam. However, this fat land of hundreds of million dollar worth has been underexploited by the domestic producers. The fact is that 90% of toy on sales are originated from China and made in various types of materials such as plastic, metal, wood, cotton, and so on. Shops in some toy-selling streets show 500-1,000 items, including superman, moon sailors, dolls and battery-cars. Besides a few toy with educational features, a vast availability is for violent and anti-education toy products. According to Vietnamese standard, there are 26 indicators applied for children’s toys. However, none of the product currently available in the market meets these requirements of material safety, design and function. For this reason, experts said that Vietnamese companies should follow the specific way which helps them to take full advantage as think of product reach requirements which can not be provided by Chinese ones. II. Detail:

Task 1: assess current and potential market size and demand
1a) Identify market size growth and trends within a given market Market Size is measured by the total volume and or value of all sales in the market. Sales volume is measured in terms of the number of units of goods purchased, whilst sales value measures the total amount spent by customers on the volume of goods sold. The number of toy importers increase sharply in Vietnam. In this case, domestic toy take only 5% of the market share. To identify and estimate the market size, the marketer needs to base on three indicators such as number of buyers in the market, quantity purchased by an average buyer per year, and price of an average unit. As the marketer knows, the price of wooden intellectual toy is 20,000 – 180,000 VND/set, so the average price per unit is 100,000 VND. Vietnam is developing country. For this reason, the number of parent who have low or average income may not care much about this kind of educational toys. The customers of this product range will be urban people or high income households. The number of people living in main cities such as Ho Chi minh, Hanoi, Hai Phong, Da Nang, Hue, Nam Dinh, and Qui Nhon are 7,985,000 people (2005) . However, educational toys just are considered as potential, they are marked as “blank” on Vietnamese toy’s map. Therefore, the number of buyers in the Vietnam market is supposed about 3,000,000 customers. As the marketer knows, children usually receive gifts in special days as birthdays, children days and ‘Trung Thu’ days. Finally, the quantity purchased by an average buyer per year can be calculated: 100,000 VND*3,000,000 people*3 days=900,000,000,000 VND....
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