Lotteria Marketing Plan 2013
Hoang Dieu Hong – s3312620Vu Thi Thanh Thuy - s3311657Tran Nguyen Hoang Anh – s3309970Nguyen Duc Thanh – s3373543Tran Nguyen Van Trang – s3310995Vo Nguye Quynh Giao – S3325093
MAKETING MIX STRATEGIES
SWOT Matrix (Table)
MARKETING MIX STRATEGY
As time goes by, the quality of life in Vietnam is also improved by a number of factors including education, technology, healthcare, transportation, etc. As a result, people are getting busier with their fast-paced daily life, revealing an increasing trend in consuming fast-food. Sensing the opportunities within the local market, a number of fast-food brands has entered the market. In 2004, Lotte Co. officially arrived in the market with its brand of food and beverage – Lotteria. Although Lotteria has been a dominating brand in the fast-food category for the great development that the company had made through 8 years of investment, it is clearly recognizable that there are still a number of disadvantages that Lotteria encounters during the competition. One of the biggest disadvantages is the presence of other popular fast-food brands in Vietnam such as KFC, Jollibee, Carl’s Jr., Burger King, and possibly, McDonald in the near future. Another disadvantage is that fast-food is still considered unhealthy in consumers’ perception and therefore there are quite a lot of people who are not willing to purchase fast-food products. However, there also exist a number of internal and external factors that Lotteria can take advantage of. Firstly, as the economy is developing, peoples’ income is also rising and therefore they are willing to spend or more on food and beverage, especially those which are up to their standard of hygiene and safety. Secondly, young Vietnamese generation are experiencing a strong influence of Korean lifestyle, which reveal an opportunity for Lotteria to be more preferable as it also carries some value of Korean culture. Moreover, Lotteria’ menu contain similar flavor to the taste of Vietnamese customers, which cause the easy adaptability of customers to the food, not to mention a wide range of choices in their menu. In this marketing plan, all of the influential factors as well as different consumer segments are going to be analyzed in order to find the most suitable strategies to utilize the opportunities as well as to overcome the obstacles of Lotteria on its way of achieving the objectives in consumers’ attitudes and behaviors. In addition, 2 new types of buns will be introduced, which are Veggie Rice Bun and Whole Wheat Bun, in order to offer a healthier option for customers. There will be a promotion plan for these new products with different strategies in pricing, placement and sales promotion in order to make it more appealing and widely known. Finally, this plan will propose some strategies in employee training and online ordering service to help Lotteria expand further to the market as well as to maintain relationships with the existing customers. There are also some adjustments to the current marketing plan of Lotteria suggested in order to exploit the opportunities of the company more effectively in the market.
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,...
References: Kinh, 2011, ‘GDP nam 2011 dat 1300USD/nguoi’, Tuoi Tre, 6th Dec, viewed 21st Dec 2012, <http://tuoitre.vn/Kinh-te/468117/GDP-nam-2011-dat-1300-USDnguoi.html>.
Lotte Co. Ltd. 2012, homepage, Lotte, viewed 31 October 2012, <http://www.lotte.co.jp/english/index.html>.
Matthaes, 2009, ‘6 xu huong tieu dung lon o Viet Nam’, VnEconomy, 29th Jan, viewed 21st Dec 2012, <http://vneconomy.vn/20090129095857756P0C19/6-xu-huong-tieu-dung-lon-o-viet-nam.htm>.
a. Lotteria Menu (Reproduced from: ilovelotteria 2012)
Product | Price (VND) |
Please join StudyMode to read the full document