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    Develop a Strategic Marketing Plan

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    Choose a product that is currently available in the USA, and you want to market in another country. Using all available resources, you will need to develop a portion of the strategic marketing plan that includes the following:

    1. Briefly explain the country in which you have chosen to market the product and why you selected that country.
    2. A marketing mix and a competitive advantage for the product.
    3. A pricing strategy, a price, and a rationale explaining the price of each of your products. Remember to consider turnover, competition, and elasticity of demand in your strategy.
    4. A media strategy for marketing the product including an image and position to be developed, types of promotion to be used, and media to be used. Remember to specify the advantages of the chosen media, frequency, and continuity to be used.
    For questions 2, 3 and 4, explain how these will be similar or different from the current strategies that are being used in the USA and why there are similarities or differences.

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    Solution Preview

    1: Briefly explain the country in which you have chosen to market the product and why you selected that country.
    Restaurant in Vietnam, with the main product line being that of chicken dishes - I choose Vietnam because my research suggests there is a need for more accessible restaurant services, especially those that serve the Vietnamese chicken. As chicken remains Vietnam's most popular protein, it's not surprising that competition in the chicken product segment of the quick-service restaurant sector is ripe. My company would stay ahead of the competition through regular surveys to determine exactly what the customers want. I would double up on KFCs advertising campaigns, as the customers have told KFC is that they want to see KFC in more locations so that they have easier access to their product.

    2: A marketing mix and a competitive advantage for the product.
    The Competition
    There are other restaurants in the Vietnam that sell food at similar prices. Although this presents an obvious challenge in terms of market share, it also indicates the presence of a large, strong potential. The newest competitors have made their successful entry based on an innovative concept or novelty. This company will offer an innovative product in a familiar style at a competitive price. Our plans of take-out and delivery will also give us an advantage to create a good market share before the competition can adjust or similar concepts appear.

    To target the customers in Vietnam, the restaurant will employ local workers, much in the same way both KFC Vietnam and Pizza Hut operations. I'd optimize on the marketing strategy already employed by other companies. For example, chicken products points to deeper economic benefits through the backward linkages to Vietnam's agricultural and agri-processing sector. For example, I would estimate that the restaurant would increase the demand for chicken and other farm products like cabbage, tomatoes, lettuce and carrots by 10-15%. The expansion of some agricultural products, additional acreage will have to be planted, but provides opportunities for farmers of some produce to gain access to the ready market the company would be creating. This expansion being undertaken would ensure the availability of the meals. It is also a way of meeting the growing competition in the fast-quick food market. Thus, chicken products are in demand, and this customer want will probably continue into the future. This is leverage for the company as it rises above the fleeting societal trends, and targets the societal fiber of the people.

    Competitive Strategy
    There are three ways in ...

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