Discusssion board:
1. Discuss the marketing plan insights P & G has gained through its Vietnamese Marketing Studies.
P&G is keen to hook customers when they are young, a no brainer in a country where 45 percent of the population is under 25 (Coleman, 2012 para 5). By exposing consumers when they are young it is grinded into their memory and have expanding range of many products as they get older.
How influential are those discoveries in the development of P&G strategy's to enter Vietnamese market?
By exposing the young market to these products the future will create an abundance of consumers geared towards their product.
In developing a marketing plan identify the characteristics of the marketing plan that p & g should implement to boost performance.
One is to realize that Vietnam is a young culture. According to Henretta (2012) "Vietnam is a young culture very interested in trying new things, so you don't have to be the 100 year incumbent to be able to win". Vietnam and other Asian countries, including potential markets such as Myanmar, are" the growth engines for the company" (Coleman, 2012, para 8). This is important to focus on the growing market in Asia. There are many countries that are potential for the rise in the market of P&G, and allowing to see the full marketing potential with the constant growing culture.
Coleman, L. (2012). P&G play kindergarten catch-up with unilever in Vietnam
Retrieved from www.bloomberg.com
2. Proctor & Gamble began their marketing plan by targeting the young and using many of their products to introduce to their targeted audience. By using such a strategy this could give them insight on if the products were satisfying to the customer.
By doing research the company discovered that people in Vietnam had the use for helmets because most of them owned motorbikes for transportation. Once the company determined what Febreze could be used they were able to gain more customers.
When a marketing plan is set into place there are many areas that have to be observed such as communication, financial outlook, and not to mention research on the product that will be marketed. In order for Proctor and Gamble to succeed in Vietnam they must keep focus on such areas and focus on what draws their customers to their products.
Reference:
Coleman-Lochner, L. (2012, January 1). P&G Plays Kindergarten Catch-Up With Unilever in Vietnam. . Retrieved, from https://www.bloomberg.com/news/2012-07-04/p-g-plays-kindergarten-catch-up-with-unilever-in-vietnam.html
3. Proctor & Gamble (P&G) is making a huge impact in Vietnam and they are leaving no prisoners. It is almost impossible for an individual to not experience P&G products throughout special events and just everyday life. This is where their marketing planning is set at a high and the reaction from the Vietnamese market is proving positive. P&G focuses mainly on the younger generation by sponsoring and becoming a major part of a kindergarten community and beginning the unconscious marketing at a young age. So if the older generation provides most of the recent income, why is the focus aimed towards those younger in age? Coleman-Lochner explains that once in the P&G fold, customers can be introduced to an expanding range of products as they grow older, and more prosperous (Coleman-Lochner, 2012). This method helps P&G to guarantee a longer success period and helps them to stay prosperous and relevant. They master this understanding by remaining strongly visible to the Vietnamese's younger generation and just enough visual for the older generation and this is what locks P&G in successful position in Vietnam. I believe that Proctor & Gamble have done an excellent job in following the market plan by targeting the younger generation, performing extreme advertising methods, and appealing to the more privileged customers and also the under privileged. P&G has set their mark in Vietnam to have a strong advantage against any present competition or any competition that may arise in the future.
Reference:
Coleman-Lochner, L. (2012). P&G plays kindergarten catch-up with Unilever in Vietnam. Bloomberg. Retrieved from https://www.bloomberg.com/news/2012-07-04/p-g-plays-kindergarten-catch-up-with-unilever-in-vietnam.html