Lotteria Marketing Plan
ANALYSIS
INTRODUCTION
SITUATION ANALYSIS
COMPANY DESCRIPTION
Lotte Co. was originally established in June 1948 in Japan with the aim to provide an internationalization and diversification products and services to customers (Lotte Co. Ltd. 2012). In 1967, Lotte Co. Ltd. expanded their market to Korea, established Lotte Group to offer a modernized food industry and a high-standard lifestyle to their customers (Lotte Group 2012). Nowadays, Lotte has grown into a global company with offices in more than 50 countries worldwide, various sectors and approximately 4,700 employees (Lotte Co. Ltd. 2012). Food and Beverage is still the forte of Lotte Group and has a stable development in the global market especially Japan, China, Russia and Vietnam. In 2011, Lotte had earned ¥522.0 billion in total (Lotte Co. Ltd. 2012).
Lotte entered Vietnam market with their forte – food and beverage. However, it is not until December 2008 that Lotte started investing into Vietnamese market, with the establishment of the first Lotte Mart in Ho Chi Minh City. In Vietnam, with KFC, Lotteria is the main player in fast-food franchising business (Tuoi Tre 2012).
Lotte’s mission is to create high – quality services and products contributing to an abundant life for their customers through creativity exploration and challenge confrontation.
PRODUCT DESCRIPTION
According to Lotteria 2012, Lotteria is the leader in the Korean fast-food industry with 550 billion won sales in 2009. Firstly appeared in Vietnam in 1998, yet Lotteria is not popular till the entrance of bulgogi burger in 2004 (Lotteria 2012). According to Tuoi Tre 2012, Lotteria is the owners of more than 120 shops across the country, aiming to open 140 stores by the end of 2012. Entering Vietnam market, as the similarity in dining culture as well as Asian taste, Loterria Vietnam quickly attracts the taste of Vietnamese by the outstanding flavour of modern Korean fast-food. With the stable development and market share in Vietnam,
INTRODUCTION
SITUATION ANALYSIS
COMPANY DESCRIPTION
Lotte Co. was originally established in June 1948 in Japan with the aim to provide an internationalization and diversification products and services to customers (Lotte Co. Ltd. 2012). In 1967, Lotte Co. Ltd. expanded their market to Korea, established Lotte Group to offer a modernized food industry and a high-standard lifestyle to their customers (Lotte Group 2012). Nowadays, Lotte has grown into a global company with offices in more than 50 countries worldwide, various sectors and approximately 4,700 employees (Lotte Co. Ltd. 2012). Food and Beverage is still the forte of Lotte Group and has a stable development in the global market especially Japan, China, Russia and Vietnam. In 2011, Lotte had earned ¥522.0 billion in total (Lotte Co. Ltd. 2012).
Lotte entered Vietnam market with their forte – food and beverage. However, it is not until December 2008 that Lotte started investing into Vietnamese market, with the establishment of the first Lotte Mart in Ho Chi Minh City. In Vietnam, with KFC, Lotteria is the main player in fast-food franchising business (Tuoi Tre 2012).
Lotte’s mission is to create high – quality services and products contributing to an abundant life for their customers through creativity exploration and challenge confrontation.
PRODUCT DESCRIPTION
According to Lotteria 2012, Lotteria is the leader in the Korean fast-food industry with 550 billion won sales in 2009. Firstly appeared in Vietnam in 1998, yet Lotteria is not popular till the entrance of bulgogi burger in 2004 (Lotteria 2012). According to Tuoi Tre 2012, Lotteria is the owners of more than 120 shops across the country, aiming to open 140 stores by the end of 2012. Entering Vietnam market, as the similarity in dining culture as well as Asian taste, Loterria Vietnam quickly attracts the taste of Vietnamese by the outstanding flavour of modern Korean fast-food. With the stable development and market share in Vietnam,
References: General Statistics Office 2010, “Average urban population by province”, viewed 23 November 2012, http://www.gso.gov.vn/default_en.aspx?tabid=467&idmid=3&ItemID=12936 Kotler, P, Armstrong, G, Ang, S, Leong, S & Tan, C 2009, ‘Principles of Marketing: A global perspective’, 12th edn, Prentice Hall, Pearson Education, South Asia. ProGuide 2011, “Nha hang thuc an nhanh Lotteria”, 25 November, viewed 23 November 2012, <http://www.proguide.vn/cua-hang/27-nha-hang-thuc-an-nhanh-lotteria.aspx> Vietnam Investment Review 2012, “Youth swallow up fast food”, 31 October, viewed 23 November 2012, <http://www.vir.com.vn/news/features/youth-swallow-up-fast-food.html>