COMPANY AND PRODUCT
Reason for choosing indoor furniture
U.S MARKET ANALYSIS
FURNITURE AND WOOD INDUSTRY
PRELIMINARY STRATEGY FOR MAINTENANCE AND EXPANSION
Product life cycle
Branding and packaging
Distribution channel in U.S
Choose suitable distribution chain
Promotion goals: “Create awareness of product’s benefits compared to competitors”
Business environment affects promotion decisions
Factors affecting pricing strategy:
Proposing a price strategy.
The trend of economic integration today has created an expanding environment for Vietnamese enterprises and opened not only potential opportunities but also competitive challenges. From now on, Vietnamese enterprises have to create global brand names impressed in both domestic market and in foreign market via suitable business strategies. Founded in 1993, Truong Thanh Corporation (TTF) is the largest exporting wood company in Viet Nam. TTF’s vision is always to position as a leader in the wood processing industry and forestation in Vietnam and ASEAN region. Quality and designs of Truong Thanh products has been recognized in global market. The U.S. market with extensive features, large potential customers is a niche market for Truong Thanh to promote their brand name. With the knowledge we have learned from International Business, we would like to present the topic “MAINTENANCE AND EXPANSION STRATEGY FOR INDOOR FURNITURE TO THE U.S. MARKET ”. Through this topic, we want to clarify the advantages and disadvantages as well as propose some business strategies for Truong Thanh Corporation to become the leading position in indoor furniture of Vietnam and Asean, but still be responsible with community and society, help the Vietnamese wood industry develop sustainably.
I. COMPANY AND PRODUCT
1. Company introduction
Truong Thanh Furniture Corp (TTF) originated from a rough processing workshop in the highland of Dak Lak in 1993 with about 30 workers, primitive infrastructure and machinery. With more than 17 years of operation in the wood processing industry, under the leadership of the Group Chairman, Mr. Vo Truong Thanh, together with the commitments of professional and skilled staff, the Company has developed into the holding company of Truong Thanh Group including 07 subsidiary companies with more than 6,500 employees and modern infrastructure, machinery and equipment in accordance with European standards, and become one of the leading wood processing corporations and exporters in Vietnam. With more than 17 years of operation, TTF has expanded markets to more than 30 countries and achieved many awards. Company has produced 4 product ranges, consist of:
* Indoor furniture: tables, chairs, beds, shelves... made of Teak, Cherry, Mahogany, Pine wood * Outdoor furniture: tables, chairs, benches, lounges, wine trolley... * Wooden floorings
* Other: sawn timber, wooden components...
2. Reason for choosing indoor furniture
When beginning to launch into market, indoor furniture of TTF always have many modern and fashionable designs with high quality. In 2010, indoor furniture products account for more than 60 percent turnover of company. Besides, the U.S. is extending list of...
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