Vietnam's Market Potential
Assess the market opportunities in Vietnam for both consumer-products companies and industrial-products companies. How well will goods "Made in Vietnam" fare in the United States?
Determine which nation currently leads in foreign direct investment in Vietnam. What is the explanation for the ranking?
Some critics have argued that Cuba is more deserving of diplomatic and trade relations with the United States than is Vietnam. What are some of the factors behind this argument?© BrainMass Inc. brainmass.com October 16, 2018, 8:25 pm ad1c9bdddf
The response addresses the queries posted in 947 words with references.
//Before lettering about the market opportunities in Vietnam for both consumer-products Companies and industrial-products Companies, it is necessary to have knowledge about the background of Vietnam. One should know about the economic condition of Vietnam for analyzing the Market opportunities successfully.//
Market opportunities in Vietnam for consumer and industrial product companies:
Vietnam a densely populated and developing country, achieved a substantial progress from the year 1986 to 1997. The Asian financial crises in 1997 created problems in the Vietnamese economy and for the time being allowed the challengers of the reform to slow the growth and development toward a market-oriented economy. This period ranges from 1997 to 2004 and economic growth slowed down from 9 % to 6.8 %. In the year 2005, the growth rate hits 8% and 7.8% in 2006. Moreover, it is a member of ASEAN Free Trade Agreement (AFTA) and WTO. This ensured boost to the economy and continuation of liberalizing reforms. It also entered into the force of US-Vietnam Bilateral Trade Agreement in December 2001.
Poverty rate has declined significantly and is less than that of China, India Philippines. Monetary and fiscal policies have been tightened by Vietnamese authorities to stem high inflation. The targeted economic growth for the next five years is 7.5%-8%. Labor force over there is growing by more than one million people every year and the economy is trying to create more jobs to meet this challenge. Food processing, shoes, garments, machine building, coal mining, steel, chemical ...
820 words, APA
Develop a Strategic Marketing Plan
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.