Marketing Plan for Magnum in Vietnam
I. Elements in marketing process:
1. Definition:
Marketing play an important roles in business. It not only helps company identify the demand of customers, but also orientate the development of product to help company work more effectively.
Marketing can be defined as “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” (American Marketing Association Board of Director) Base on this definition, Marketing is the set of activities and processes with the purpose that: satisfy the customers, clients, partners and society.
In general, it can be said that marketing is the process that combine all company activities to satisfy the customers and, in the end, get profit from customer’s satisfaction.
2. Element in marketing process:
Marketing process includes five elements: analysis situation, marketing strategy, marketing mix decision and implementation and control.
Analysis situation is first step in marketing process. In this step, company has to collect information, data and figure to understand internal and external environment. Based on the result of the analysis, company can predict the trend of market and compute that whether its ability can adapt with the market or not. In order to carry out this step, the company can do three analyses below:
PESTEL analysis: Political, Economic, Social, Technology, Ecological and Legal are five macro-economic factors. They are very important for company to evaluate the market and decide whether it can develop strongly in this market or not.
SWOT analysis: This method helps company identify its strong and weakness, also the opportunity and thread. Understand these things can make company developing more stable and limit the risk. It can use the strong to limit the thread and the opportunity to improve the Strong and remove weakness. The meaning of the SWOT analysis can be
1. Definition:
Marketing play an important roles in business. It not only helps company identify the demand of customers, but also orientate the development of product to help company work more effectively.
Marketing can be defined as “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” (American Marketing Association Board of Director) Base on this definition, Marketing is the set of activities and processes with the purpose that: satisfy the customers, clients, partners and society.
In general, it can be said that marketing is the process that combine all company activities to satisfy the customers and, in the end, get profit from customer’s satisfaction.
2. Element in marketing process:
Marketing process includes five elements: analysis situation, marketing strategy, marketing mix decision and implementation and control.
Analysis situation is first step in marketing process. In this step, company has to collect information, data and figure to understand internal and external environment. Based on the result of the analysis, company can predict the trend of market and compute that whether its ability can adapt with the market or not. In order to carry out this step, the company can do three analyses below:
PESTEL analysis: Political, Economic, Social, Technology, Ecological and Legal are five macro-economic factors. They are very important for company to evaluate the market and decide whether it can develop strongly in this market or not.
SWOT analysis: This method helps company identify its strong and weakness, also the opportunity and thread. Understand these things can make company developing more stable and limit the risk. It can use the strong to limit the thread and the opportunity to improve the Strong and remove weakness. The meaning of the SWOT analysis can be