Executive Summary In order to penetrate and develop Vietnamese fashion, we have built a marketing plan for Ananas shoe brand in the Korean market To do this, we conduct research on Ananas, gathering i[.]
Executive Summary - In order to penetrate and develop Vietnamese fashion, we have built a marketing plan for Ananas shoe brand in the Korean market To this, we conduct research on Ananas, gathering information about the product lines that we select and think are eligible to participate in the Korean market Analyze the volatility and development of the shoe industry in the Korean market before launching products into new markets To be successful, we must care about our competitors as well as the environment and other influencing factors From there, evaluate and find out the potential of the market To get customers to choose their products instead of competitors We use the 4Ps marketing mix strategy The strategies of each PP are based on analysis and evaluation, synthesis, and linkage with each other to achieve the most optimal effect Section 1: Introduce Referring to domestic footwear brands, most people will immediately think of Biti's brand In fact, in addition to Biti's, in the Vietnamese market, there are still many other footwear brands, one of which is Ananas 1.1 Ananas market overview Ananas belongs to Hazza Joint Stock Company (Hazza Joint Stock Company), was established in 2010 and has a registered address at 118/28 Nguyen Van Huong Street, Thao Dien Ward, District City, Ho Chi Minh This is a 100% retail shoe brand made in Vietnam Logo ANANAS From the early days of establishment, Ananas has encountered many difficulties in the footwear manufacturing and trading industry, along with fierce competition in this field However, with the experience of more than 20 years as a shoe factory that has cooperated with many famous brands such as Puma, Reebok, Keds, Burberry, etc., Ananas has continued to go step by step and did not let us down And 2017 is the year marking the transformation of Ananas into a local brand, marking the beginning of a local brand in the field of footwear The brand has succeeded in repositioning the brand, affirming its position on the Vietnamese shoe map After five years of establishment and development, Ananas now has a total of 10 branches in Ho Chi Minh City with many sales forms such as standard, outlet, pop-up, flagship Ananas has demonstrated the strength and popularity of the brand by continuously expanding and developing chain stores around the world and throughout Vietnam so that a large number of consumers know about the brand's products Main icon Belonging to Hazza Joint Stock Company (Hazza Joint Stock Company) Tel: 096 342 97 49 (Monday - Saturday, 9am - 5pm) Cooperation email: info@ananas.vn Email for comments: cs@ananas.vn Address: 118/28 Nguyen Van Huong Street, Thao Dien Ward, District 2, City Ho Chi Minh Store branches open all week from 9am to 10pm · Vision Ananas hopes to succeed in the Saigon market, and then, if possible, will expand throughout Vietnam, the region, and the world · Mission Provide consumers with footwear products of good quality at a reasonable price · Desire Ananas wants to bring customers a product with a value that is much higher than the selling price Ananas does not define competition by a cheap price but rather invests in human effort to create product value · Message Young people today often fall into a state of emptiness, confusion, and not knowing what they are doing, what they want, and dreaming about Therefore, with the message DiscoverYOU, Ananas wants to remind everyone that "Whatever you do, you need to understand yourself and know what you want." The more you know yourself, the easier and more decisive life will be Ananas Brand Website: https://ananas.vn/ 1.2 Ananas Products 1.2.2 Basas Ananas (Basic Ananas) It’s a product line of Ananas named by the combination of the prefix "bas" in the word "basic" and the suffix "as" in the word "Ananas" Born with the desire to bring the spirit of simplicity, designs and colors that last over time, and are always simple to apply in a variety of activities and costumes Some outstanding products: - Basas Bumper Gum NE – Mule - Basas Simple Life NE – Mule - Basas Hook N'loop NE – Mule 1.2.3.Vintas Ananas (Vintage Ananas) Named from the prefix "Vint" in the word "Vintage" and the suffix "as" in the word "Ananas", Vintas conveys the classic color gamut by blending leather on each product to create its own character Along with that, Vintas is the successor to the spirit and beauty of the past but still brings the innovation and breath of the present to not only suit all those who love the old features but also be a great highlight is a mark of maturity Some outstanding products: Vintas Flannel Vintas Temperate 1.2.4.Urbas Ananas (Urban Ananas) As the third child of Ananas, different from the "Regular" of the Basas line or the "Italic" of Vintas, Urbas not only represents the "Bold" substance when bringing in its own vivid accents with catchy colors The rhythm of the trend but also the soul and bold personality of modern young people: free, full of positive life energy and always wanting to express their personality Some outstanding products: Urbas Pineapple or Ananas Pack Urbas Retrospective Urbas Ruler - Low Top Urbas Unsettling Urbas Corluray One of the products that make up ANANAS's Urbas line's highlight 1.2.5.Track Inspired by Retro Sneakers and 1970s music, the Ananas Track was born as the first Cold Cement model from Ananas, a Vulcanized shoe brand The new design is a trip back to the 70s, back to The Beatles' last album, "Let It Be" Some outstanding products: Track Utility Gum Sole - Low Top Track Triple White - Low Top Track Suede Moonphase - Low Top Besides, Ananas also has a line of collab shoes with cartoon characters, limited to Pattas Some products outside the footwear segment are Graphic Tee, Hoodie Sweatshirt, Basic Backpack, Socks, Hat, Basic Tee, Shoelaces Section 2: Situation, Market & Competitors Analysis 2.1 Overview of shoes market in Korea The footwear market comprises the total revenue generated from the sale of all types of men's, women's and children's shoes It includes all categories of footwear for men, women, boys, and girls, but does not include sports-specific footwear All market data and forecasts are presented in nominal terms (i.e without adjustment for inflation) and all currency conversions used in the creation of this report have been calculated using a flat annual average exchange rate in 2020 The Korean footwear market has a total revenue of $5.9 billion in 2020, corresponding to a compound annual change rate (CARC) of -4.5% during 2016-2020 The women's footwear segment is the most valuable segment of the market in 2020, with total sales of $3.1 billion, or 52.1% of the overall market value The COVID-19 pandemic has had serious social and economic consequences in 2020, causing consumers to spend less on consumer goods, including footwear Hình: Thị trường giày Hàn Quốc 2.2 Situation Analysis 2.2.1 PESTEL 2.2.1.1 Political South Korea is one of the most volatile and protracted conflict zones ever However, in the current integration period, Korea is also one of the countries actively participating in international organizations and agreements, expanding trade with countries all over the world despite political instability In addition, the Korean government has taken strong steps to strengthen the political and economic situation that has been heavily affected by the COVID-19 pandemic through expanding government spending, including two budget replenishments and providing relief money to people in need At the same time, the strong support of the Korean government is one of the key factors that makes the fashion industry strong, especially the footwear industry in this country It can be seen that Korea has an open economy The law also creates favorable conditions for foreign businesses In particular, Vietnam and Korea have signed the Vietnam-Korea Free Trade Agreement, so this country has certain legal preferences for goods imported into Vietnam 2.2.1.2 Economic The Korean economy is the 4th largest in Asia and the 10th largest in the world South Korea has had many major transformations in its economy Despite its geographical limitations and natural resources, Korea has focused on technological development and reforms to spur growth, going from being a predominantly rural country to an urban industrial one Up to now, the Korean economy has grown amazingly, and living standards are increasing day by day In Korea, young people are very interested in entertainment, accessories, fashion, etc because they have enough money to meet their daily needs and spend a lot of money on their appearance Today, the market for clothing, shoes, and accessories is rapidly expanding, and total goods are increasing on a daily basis This creates opportunities for all businesses and brands, both at home and abroad Specifically, according to BoK data released on July 26, Korea's Gross Domestic Product (GDP) increased from 0.6% in the first quarter of 2022 to 0.7% in the second quarter of 2022 Thus, Korea has recorded a series of consecutive quarters of growth since the third quarter of 2020 With a fairly high growth rate, it will create conditions for the development of enterprises In particular, shoes are one of the industries that account for a large market share of the Korean economy 2.2.1.3 Social - Ananas's potential customers in Korea are 72.9% of the population aged between 15 and 64 years old (2022, 51.78 million people) - The style of the Korean youth follows trends, especially in fashion, favoring simple but unique designs 2.2.1.4 Technology - Inheriting Vulcanized shoe manufacturing technology, Ananas has produced products that are meticulously executed from design to production, communication distribution to customer care Putting quality as the top criterion to bring the majority of young people's high-quality products above the price Besides being the leading technology platform in Korea, they provide greater access to information not only for supply chain partners but also for broader industry partners and customers 2.2.1.5 Natural Environment Korea has a temperate climate with four distinct seasons Winters are usually long, cold, and dry with lots of snow Meanwhile, summers are short, hot, and humid Spring and autumn are pleasant but short The average temperature in Korea is between C and 16 C Summer temperatures range from 19°C to 27°C Winter temperatures range from -8 to degrees Celsius In general, the Korean climate is very cold and rainy and often rains a lot, so the people here are very fond of shoes with good grip, high quality, and especially the shoe material must retain good heat This is one piece of good news because Ananas can solve the bad environmental problem in Korea 2.2.1.6 Legal Korea has been building a developed market economy, so policies and laws create the best possible conditions for foreign businesses to develop To be able to be licensed to business in this kimchi country, Ananas needs to understand the regulations and laws as well as the benefits to be able to develop long-term and sustainably To be able to open a business in Korea, Ananas must comply with the compliance procedures for the economic law and the social enterprise law in Korea 2.2.3 SWOT (LINH)