The evaluation results are agreed upon and summarized as follows:NameStudent IDRatio of accomplishtaskPham Tran Xuan Nhi 2121003395 100%Nguyen Ha Thien An 2121003589 100%Huynh Phuong Nhu
OVERALL ANALYSIS
Vietnam is a developing country with an untapped potential market in many aspects In particular, the Vietnamese shoe industry is one of the most promising markets in Southeast Asia According to LEFASO, it is estimated that in 2019, footwear consumption in Vietnam will reach about 190 million pairs (an average of 1.9 pairs per person) and continue to increase due to the rapid increase in per capita income in Vietnam over the past few years Therefore, many enterprises have expanded their production scale, innovated technology and equipment, and strengthened sample design, creating many trendy products that meet the needs of domestic consumers There are also many foreign sports shoe brands investing in the Vietnamese market.
Furthermore, sports footwear continues to be the growth driver of the global footwear market It is forecast that the global footwear market will grow at an average of 3.54% per year in the period 2020–2025 There is a growing demand for fashionable, trendy, yet comfortable footwear among all age groups, which is a key factor driving the global footwear industry.
ADIDAS OVERVIEW
Introduction to Adidas
Adidas is a famous global brand Adidas has been involved in the Vietnamese gymnastics market for a long time In 1993, Adidas was present in the Vietnamese market, but in 2009, Adidas officially established the Adidas Vietnam company.
"To be the best sports brand in the world" Adidas's vision is to become the world's leading sports brand To beat Nike back to the market, Adidas has invested heavily in the development and innovation of products to deliver better experiences for its customers and achieve its strategic goals In the fierce competition with sportswear manufacturers, Adidas has revived and become a formidable competitor in terms of creativity through its marketing strategies Adidas products will also be the best choices for sports fans in the future
The purpose of Adidas is that "through sport, we have the power to change lives", from the way they run the company, the way they work with partners, the way they create products, and the way they interact with consumers It has always strived to push the limits of human possibilities, unite people in sport, and create a more sustainable world.
“All the products that Adidas is providing the best products and the most perfect" With a vision of being the best sports brand in the world, Adidas' mission revolves around providing the best products as well as the best quality to its customers to achieve growth and long-term sustainability through having loyal customers when using the product.
Adidas once stated that "its core values—honesty, motivation, and dedication—are rooted in the spirit of sport" These values can be seen throughout, from the beginning of Adidas to the present day, through close relationships with athletes and sponsorship programs for important sporting events such as the World Cup These events are a place for sports brands to showcase their images and products and are also an opportunity to gain market share.
SWOT
Technology and Digital: More than just one of the world's best sportswear and clothing brands, Adidas has put itself in the position of a fashion company that firmly embraces digital technology They spend up to 90% of their marketing budget on digital and social media campaigns, promoting online sales, aiming to become the first sports brand to use open source code, and inviting athletes and customers to become part of their brand.
Skilled Customer Relationship Building: Adidas has successfully created enthusiasm and interest in sportswear on a personal level by using every touchpoint, such as mobile, social, and retail channels, that consumers can interact with to create highly personalized experiences.
Strong financial position: With 2,400 stores globally accounting for $4.3 billion, the company is in a strong financial position.
Branding by creating a focal point with the community: Celebrity endorsements and sponsorships of major sports organizations such as FIFA, UEFA, the NBA, and the Olympics have increased awareness of Adidas in the market, which also increases its highly targeted customer base.
High prices: High prices due to innovative technology and production methods have made the brand suitable for limited customers, especially in developing countries.
Outsourced manufacturing: Adidas has 93% of its production outsourced to 3rd-party manufacturers (mostly in Asia) to take advantage of low labor costs and easily available resources They are in danger of over-reliance on outsourcing, especially in Asian markets.
Limited product line: Adidas, along with the recently purchased Reebok brands by Adidas, have only two brands in their group, although they already have deep assortments within these brands So there is plenty of scope to expand the product line.
The Vietnamese market is emerging strongly.
Sports footwear continues to be the growth driver of the global footwear market It is forecast that the global footwear market will grow at an average of 3.54% per year in the period 2020–2025 There is a growing demand for fashionable, trendy,
3 yet comfortable footwear among all age groups, which is a key factor driving the global footwear industry.
Market Development: Entering new markets will be the only way to future success, as advanced economies are already highly competitive.
Product Line Expansion: Expanding its product line opens up a host of new opportunities, and it can differentiate itself from its competitors by implementing this strategy.
Fierce competition: Although Adidas is a global brand, it is facing fierce competition from other brands such as Nike, which is the No 1 brand, and Adidas, which is the No 2 brand in the premium segment.
Supplier dominance: Since much of its production is outsourced, the supplier has more bargaining power than the company.
Government regulation: With 35% of products manufactured in China and 93% of production occurring in Asia, import regulations, duties, and tariffs play a key role in the pricing and success of the company.
As for Adidas' marketing strategy for products, this brand has successfully attracted customers and persuaded them to use its products by diversifying products and always focusing on improving product quality by applying advanced and modern technologies.
Marketing strategy to diversify products to target each target customer group Adidas' product portfolio is always diversified with shoes and sportswear products for all three groups of men, women, and children In particular, the product lines are distinguished by the "3S": Sport, Street, and Style In particular, product lines are distinguished from 3S: Sport, Street, and Style are products with separate designs and different styles suitability.
- Adidas Sport: The product line focuses on sports styles such as football, basketball, golf, track and field, outdoor sports, tennis, and a special group of
Adidas by Stella McCartney aimed at customers who are athletes or consumers who are passionate about sports.
- Adidas Street and Originals have street heritage designs with 3-petal and 3-Stripes logos and signature "Adidas" for street style followers.
- Adidas Style is divided into three styles: Porsche Design and Sport focuses on elegance and high class and is divided into 3 customer groups (elegant, high-class, dynamic, and unique creative).
Good product quality and the application of modern technology make a difference compared to competitors Users know that Adidas shoes have a delicate design, are light, durable, comfortable to move without worrying about occlusion or foot pain, and are suitable for all types of customers: men, women, and children This is possible due to the application of the following technologies:
- BOOST technology: good heat resistance, lightweight, durable, and high elasticity.
Figure 1: Sneaker products focus on sports style.
Figure 2: Some Street and Original sneakers
Figure 3: Some sneakers are used Boost technology
- Springblade technology: good bearing capacity, soft, avoids brittle fracture, and is comfortable in long-term use.
- Primeknit technology: high aesthetics and best durability.
With durable, good products that are sure to adapt to all environmental conditions, are imported from good sources in other countries, are easy to clean, and have a good bearing, Adidas has succeeded in attracting customers, giving owners a competitive advantage over competitors. b Price
Adidas develops different products according to consumer psychology. Products must focus on fashion, color, and uniqueness For sports shoe enthusiasts, they must always improve their products, stay ahead of trends, and focus on style while applying advanced technologies.
With its style, design, and way of promoting products, Adidas uses the strategy of skimming and competitive pricing at the same time For casual products, Adidas offers a stable price point, focusing on competing with rivals such as Nike, Reebok, and Puma As for products that have just been launched on the market or have a unique design, Adidas uses a skimming price strategy.
VIETNAM MARKET ANALYSIS
Vietnam market assessment
Vietnam is a very potential market, possessing many resources and development opportunities To be able to come to this conclusion, the team reviewed and compared the information about the Vietnamese market in the context of the development of the world and the region, specifically as follows:
Vietnam is a country known for its stable political situation and many favorable conditions for FDI enterprises We can see that through figures like:
- Our country is one of 10 countries that are completely free of conflicts, especially political conflicts According to the Institute for Economics and Peace (IEP), Vietnam ranks 42/139 (2008) and 48/143 (2009) among countries and territories in the Statistical Table of the Global Peace Index Although Vietnam has dropped six places from 2008 to 2009, it is still highly appreciated for its political stability.
- According to Fitch Solutions, Vietnam is a country in the group with a high rate of risk and possible return In early April 2020, the Ministry of Finance said that Fitch Ratings (Fitch) has affirmed Vietnam's long-term foreign currency issuer default rating (IDR) at 'BB' with a positive outlook Confirmation and Positive Outlook reflect Vietnam's favorable medium-term growth outlook, strong external liquidity, lower government debt than the average for other countries, and revised credit outlook from "positive" to “stable”.
- Vietnam has provided convincing examples of the adaptability of the economy and the degree of political stability amid the escalating epidemic situation. Therefore, Vietnam is also a country that has recovered quickly from the global effects of COVID-19.
Entering 2009, our country's economy continues to face many difficulties and challenges The financial crisis of a number of major economies in 2008 pushed the world economy into a recession, significantly narrowing export markets, capital markets, and labor markets, and negatively affecting many other socio-economic areas of our country In the country, natural disasters and epidemics occurring continuously throughout the country have also had a great impact on production and people's lives. Faced with that situation, the government promptly made appropriate and specific decisions with economic and financial undertakings and policies in order to overcome
8 difficulties, promote advantages, and focus all resources on economic development and social security.
Gross domestic product (GDP) for the whole year increased by 5.2%, exceeding the target set by the National Assembly (5%) Although the economic growth rate is the lowest in the last 10 years (in 2008 it increased by 6.18%, in 2007 it increased by 8.46%, in 2006 it increased by 8.23% ), Vietnam is still recognized by the world as one of the countries with high growth rates in Asia (after China, it increased by 7.8%)
- Agricultural production developed and grew quite well The production value of agriculture, forestry, and fisheries in 2009 is estimated to increase by 4.2% compared to 2008 (in 2008 it increased by 5.6%), of which agriculture increased by 3.5%, forestry by 2.8%, and seafood increased by 4.5%.
- Industrial production started to recover and grew gradually over the quarter The industrial production value of the whole year is estimated at 8%, of which the state-owned enterprise sector increases by 3.7%, the non-state sector by over 10%, and the FDI sector by over 8%.
9Figure 5: Gross domestic product in 2009
- Investment from the state budget capital reached the set plan, of which the central capital exceeded the plan by 5% FDI attraction decreased sharply (70%) compared to 2008, reaching just over USD 22 billion.
- In the market, prices are quite stable, but purchasing power increases slowly. Total retail sales of goods and services in 2009 increased by 18% (if the price factor is excluded, it will increase by 10%).
- Export turnover of goods for the whole year is estimated at 57 billion USD, down 11% compared to 2008, of which the domestic economic sector decreased by 6.7% and the FDI sector decreased by 15.5% (including crude oil) If it didn't include crude oil, the FDI sector would have decreased by only 4%.
- Import turnover for the whole year is estimated at 69 billion USD, down 17% compared to 2008, including the domestic economic sector down 20% and the FDI sector down 13%.
In summary, our economy in 2009 basically recovered and grew reasonably, especially in the last months of the year In the context of the negative impact of the global economic crisis and recession, the results achieved are remarkable International financial institutions such as the IMF, WB, ADB all highly appreciate this result, as the IMF said: In 2009, Vietnam's expected growth rate of 5.2% was considered very positive compared to that of other economies.
Population: According to preliminary results of the 2009 Population and Housing Census, the country's population at 00:00 on April 1, 2009, was 85,789 million people The average population growth rate in the period 1999–2009 was 1.2% Of the total population, the urban population is 25.4 million people, accounting for 29.6% of the total population; the rural population is 60.4 million people, accounting for 70.4%; the male population is 42.5 million, accounting for 49.5% of the total population; and the female population is 43.3 million, accounting for 50.5% The sex ratio of the population in 2009 stood at 98.1 males per 100 females According to the results of the 2009 Population and Housing Census, the country's working-age population is 55 million, of which 45.2 million are in the working-age population, accounting for 82.2% of the total working-age population The number of laborers of working age is 43.9 million, accounting for 51.1% of the total population The proportion of workers with lower secondary education or higher education is 56.7% compared to the total number of employees in the age group, of which the percentage of workers with upper secondary school education or higher is 27.8% The labor force in the age group with a university degree or higher accounted for 5.3%.
Education: In recent years, the construction of schools to meet national standards and the universalization of primary and lower secondary education have been strongly implemented in many localities, so by the end of August 2009, the number of kindergartens and high schools was recognized as meeting the national standards of the whole country, reaching 8672 schools, including 1644 preschools,
5254 primary schools, 1573 junior high schools, and 201 high schools As of December 2009, the whole country had 48/63 localities achieving universalization of primary education at the right age and 56/63 localities achieving universalization of lower secondary education According to reports from localities, at the opening of the 2009-2010 school year, the whole country had 2853.8 thousand children in kindergarten, an increase of 2.9% compared to the beginning of the previous school year; 6907.3 thousand primary school students, up 2.6%; 5230.4 thousand junior high school students, down 4.4%; and 2885.6 thousand high school students, down 1.4%.
Overview of the Vietnamese shoe market
3.2.1 Overview of the shoe industry
At the end of 2009, Vietnam's leather and footwear exports were not high, but according to experts, they were also considered a success The figure of 4.1 billion USD in export turnover for leather and footwear in 2009 proved the outstanding efforts of the whole industry in the context of economic difficulties In 2009, despite the bad effects of the world economic crisis, EU anti-dumping lawsuits and GSP preferential treatment to the EU no longer existed The Vietnam leather and shoe industry still has spectacular development steps.
Statistics show that, in 2009, the leather and footwear industries achieved an export turnover of nearly 4.1 billion USD, down about 13% compared to 2008 This decrease was mainly due to the decrease in exports to the US market in 2009, which only reached about 1.1 billion USD compared to 1.5 billion USD in 2008 With the EU market, in 2008, Vietnam's footwear exports reached 2.2 billion USD, and in 2009, they still reached approximately 2.1 billion USD.
Although the number of enterprises producing leather and footwear is not small, the competitiveness of the industry is still weak, mainly based on sports shoes, women's shoes, canvas shoes, bags, and purses In addition, the production of Vietnam's leather and footwear industry is mainly for export, but in the domestic
12 market, with a consumption of about 100 million pairs per year, it has not yet been focused on exploiting.
Market Growth and Drivers: The footwear market is experiencing an estimated CAGR of 3.62% during the forecast period Key growth drivers include the growing demand for stylish footwear combined with comfort, regardless of age group. Vietnam's sportswear market grew 11% in 2016 and reached VND 6,350 billion in revenue.
During the period from 2000 to 2008, the population of Vietnam increased from about 77.6 million people in 2000 to over 85 million people in 2008 During this period, the number of shoes consumed in the country has tended to increase High. Population growth, coupled with economic development, has created increased consumer demand.
Recently, economic growth in the country has reached a high level, leading to an improvement in people's living standards and an increase in demand for essential products such as footwear With a population of over 80 million, the domestic market has great potential for the footwear industry However, in recent times, this market has not been fully exploited, leading to an open situation Every year, only about 25.0– 30.0 million pairs of footwear are produced to serve domestic consumption, and about 10% of the output of footwear produced for export is left over and consumed in the country Although this number increases, it still cannot meet the consumption demand due to the increasing demand for culture and sports The domestic footwear market mainly depends on manual labor and the production of private enterprises, along with a part of products that are not good enough for export by footwear enterprises. However, the competitive situation has been affected by various factors Footwear products from abroad have diverse designs and are often sold in Vietnam at cheap prices due to smuggling or tax evasion, putting competitive pressure on domestic shoe
13 Figure 6: Output of footwear consumed over the years and annual consumption by population. and leather goods production This has shrunk the domestic footwear and leather goods industry and created a fiercely competitive environment To develop the domestic footwear market, it is necessary to promote investment and development in the industry and to consider measures to improve fair competition between domestic and imported products.
In 2008, when Adidas entered the Vietnamese market, there were several competitors in the sports and footwear industries These are some notable competitors:
- Nike: Nike is one of Adidas' main competitors globally and competes strongly with them in many markets, including Vietnam Nike is known for producing high-quality athletic products and footwear, with an emphasis on both design and manufacturing techniques Besides, Nike offers a wide range of sports and fashion products, from sneakers and clothing to accessories This helps them serve a wide range of customers and needs In addition, Nike focuses on creating a dynamic sports image combined with style and innovation in product design This appeals to a young and dynamic audience.
- New Balance is known for producing quality athletic shoes and footwear with an emphasis on convenience and comfort They focus on providing products that ensure comfort during sports or everyday activities In addition, what is unique about New Balance is the variety of shoe sizes and widths They offer shoe versions in a variety of sizes and widths to accommodate a wide range of consumer foot sizes. Besides, New Balance often focuses on simple and casual design, creating a style that is not too ostentatious This appeals to customers who prefer a minimalist and classy style.
- DC: DC Shoes (or commonly referred to as DC) is a sports shoe and clothing brand specifically geared towards skateboarding and extreme cycling, but when it comes to Vietnam, DC is considered a brand that carries the general youth fashion trend and is no longer as sporty as it was in America DC focuses on the production of athletic shoes and apparel for sports such as skateboarding and extreme cycling Moreover, DC's designs are often personal, liberal, and express the free spirit and creativity of young people.
TARGET MARKET AND ENTRY METHOD
Shopping behavior of Vietnamese people
Entering the 4.0 era, Vietnamese people's shopping habits are gradually changing, especially for young people They are representatives of change and adaptation to the global situation and technology.
- Spend more liberally: It can be seen that young Vietnamese consumers tend to spend more liberally They do not save as much as the previous generation but focus on working and enjoying life The level of spending by young people is one of the conditions that has helped the economy gain momentum in recent years.
- The trend of buying in installments is increasing: A big difference in the consumption behavior of young people is the increase in installment payments Young people can own assets that are beyond their financial means They choose to use credit cards and installment payments instead of borrowing money from family and friends. This helps them spend more comfortably At the same time, these debts also motivate young people to work hard.
- Love secondhand goods: In recent years, secondhand has become a popular fashion trend around the world It is not difficult to find these types of clothing stores on busy streets And there are also many monthly clothing exchange fairs organized by Gen Z that attract a large number of young people to participate It can be seen that secondhand has become a fashion style favored by young people Buying used clothes helps consumers save a considerable amount of money.
- Shopping habits and behaviors gradually change: Unlike the previous generation, young Vietnamese consumers prefer online shopping more than ever The convenience of e-commerce has made it possible for customers to shop anywhere with just a phone Besides, consumers can also refer to the reviews of previous buyers to decide whether to buy that product or not.
4.1.2 Sneaker shopping behavior of Vietnamese people
Vietnamese people are willing to spend millions of dong to buy a pair of branded shoes made in Vietnam, but Vietnamese-brand sneakers are struggling to find a foothold in the market Gradually, people began to spend more selectively, focusing on essential goods and reducing spending on fashion and beauty.
Therefore, the demand for footwear shopping also decreased People pay more attention to the durability of a footwear product However, for some people with a good income and a part of young people, they still consider shoe shopping an
15 indispensable thing to express their values, update trends, and are willing to spend a lot to buy new, rare shoes on the market.
Target customers
Adidas' target customers belong to a dynamic group of men and women with separate product groups, most of whom are between the ages of 14 and 40. Customers are working people, students, or sportspeople The majority of customers have an average income that is quite enough to spend on shopping.
Buying for personal needs: When buying sports shoes, people often pay much attention to the style, color, and style of the product The chosen sneakers must match your personality and highlight your style.
Purchase due to business needs: The selected product requires high specialization, certainty, and maximum safety for users.
Buy due to communication needs: This is a product that not only represents the user but also represents the whole team Users are willing to spend large amounts of money to buy suitable products The product must bring luxury and class to the user.
Especially, consumers in the Millennials and Generation Z age groups have the following outstanding behaviors:
- Shopping activities are mainly conducted through social networking sites.
- Be loyal to the brand, and ask the brand to understand and empathize with them.
- Learn more about the product before you buy.
- Consumption is associated with ethical attitudes.
- "Hard-core loyals": consumers always buy a brand
- “Soft-core loyals": Those who are loyal to two or three brands
- "Switcher": Consumers do not show loyalty to any brand.
Benefits sought: cost-effectiveness and aesthetic
The consumer's preference and use of foreign goods partly comes from the desire to assert their class, besides the very good product quality and the unique- strange factor in the design, which can be noticed in the psychology of consumers when deciding to buy a product.
Entry mode selection
Strong brand: Adidas has used its strong brand to attract consumers in Vietnam They have focused on building advertising and marketing campaigns that focus on product value, design, and quality.
Diverse design capabilities: Adidas has adapted and customized products to suit the culture and fashion style of consumers in Vietnam They offer different models, colors, and designs to meet the diverse preferences and needs of their customers.
Knowledge and experience: Adidas has long-term experience operating in many global markets, from which they have the ability to understand the cultural diversity and markets in Vietnam, from the way people shop to local fashion trends.
Finance: With strong financials, sales revenue is 860,577,000 euros and operating profit is 51,635,000 euros Adidas has the ability to invest heavily in store openings, advertising, and marketing to build its brand and attract the attention of consumers in Vietnam.
Distribution system: Adidas has used its global distribution system to open stores and reach customers in strategic locations in Vietnam They have partnered with local distribution partners to ensure their products are available at key retail locations.
Marketing and advertising campaigns: Adidas has invested in marketing and advertising campaigns to create awareness of their brand and products in Vietnam.
Events, fashion exhibitions, and media activities help create attention and build trust among consumers.
4.3.3 Government policy on foreign investment
Favorable laws and regulations for foreign investment: The Vietnamese government has created a stable business environment and favorable foreign investment management and tax policies, supporting Adidas and other businesses as they expand operations into the Vietnamese market Decision No 109/2007/QD-TTg, dated July 17, 2007 of the Prime Minister, promulgating the Regulation on formulation and implementation of the National Investment Promotion Program in the 2007-2010 period; establishing a support group for large-scale potential projects with great influence on the locality; promulgating the list of national projects calling for FDI in the period 2006-2010.
4.3.4 Adidas's penetration method in Vietnam
Subsidiary with 100% equity from the parent company overseas Adidas has established a subsidiary company with 100% capital from Adidas International B.V (Amsterdam, Netherlands) The decision to establish a subsidiary has been considered since 1993, when Adidas surveyed the Vietnamese market Opening a company with 100% foreign capital makes Adidas fully autonomous in all its activities By having a subsidiary in Vietnam, Adidas is able to optimize its business, including managing the storage, distribution, and marketing of products more efficiently.
MARKETING STRATEGY TO PENETRATE THE VIETNAMESE
Positioning
Sporty, dynamic design, suitable for all customers who want to express their personality Applying advanced technologies with the goal of protecting customers' health Crafted from ADIDAS shoe products have the above differences, uses, and benefits, so we position ADIDAS shoes as "As a health protection product line,durable, defying time and space, helping consumers have the best experience at an affordable and suitable price."
competitor
Adidas' current competitors in the Vietnamese market are mainly the following brands:
-Ananas: Ananas shoes have been on the market since 2010 However, in recent years, Ananas has gradually gained the trust of young people, becoming stronger and stronger to develop a popular local brand up to the present time.
- Biti’s: Over 39 years of production and business, with numerous ups and downs and difficulties Currently, Biti's has expanded and flourished alongside the nation,
19Figure 7: Adidas brand positioning map becoming a prestigious, trustworthy, and well-known brand to customers and the pride of Vietnamese people in a "national brand" in the field of prestigious and high-quality footwear.
- Nike: Nike Inc is an American multinational corporation that designs, develops, manufactures, distributes, and sells clothing, footwear, accessories, and others on a worldwide basis It is one of the biggest manufacturers of sporting goods and the leading provider of athletic footwear and apparel in the world, and it is Adidas' main competitor at present in the international market in general and in the Vietnam market in particular.
- PUMA: PUMA was established in 1948 and has developed to become one of Germany's leading sports shoe manufacturers Puma distributes its shoes in more than
120 countries worldwide, including Vietnam, generating more than $2.5 million in annual sales.
- New Balance (NB): New Balance is an American sports shoe and apparel brand founded in 1906 The brand was originally owned by the New Balance Arch SupportCompany Today, the brand belongs to New Balance Athletics, Inc., an American multinational corporation, and its parent company, New Balance, Inc., a holding company owned by Jim Davis New Balance is one of the world's largest manufacturers of athletic footwear and apparel and maintains a manufacturing presence in the United States.
Marketing Strategy
Increase brand awareness to 90% among potential customers by 2023. Increase potential customers' brand and product understanding by 70%. Increase the customer trial rate to 20% in 2023.
5.3.2 Marketing Plan in 3 years a Product
"Becoming the best sports brand in the world" is the mission that Adidas constantly pursues, and product strategy is a core part of how the brand can achieve its goals Given the strengths of the brand and considering its limitations, here are some suggestions for strategy and points for improvement in Adidas products over the next
Product features and quality: Adidas is one of the largest and oldest sportswear manufacturers in the world Adidas' mission is "becoming the best sports brand in the world", so with every product made, the quality of Adidas products has always been proven throughout the years through quality, design, and quality. sophisticated design, lightweight, durable, comfortable to move, and suitable for all types of customers: men, women, and children Adidas always tries to bring the best products Adidas products are heat-resistant, lightweight, durable, and highly elastic by applying BOOST technology to both mid-range shoes and Springblade technology to help create a thrust to push the shoe back Using polyester material has the advantage of being soft, avoiding brittleness, and providing a comfortable feeling for a long time. Although it is only in the mid-range price range, the quality and durability of the product are not inferior to those in the high-end segment Technologies are always focused on research and development to improve their ability to produce the best shoes.
Packaging Products: Packaging for shoe products includes shoe boxes and bags Both the box and the bag use paper materials for the purpose of environmental protection, in line with the trend of environmentally responsible living.
- Bag: Has a stand-up design and has a handle, matching the design of the shoebox, using a minimalist design with monochromatic tones, highlighting the Adidas logo and product information in the middle With the design, customers can easily identify the brand, which creates more spiritual value for customers when buying products In addition, it is possible to focus on investing in the color and design of the bag according to consumer trends, such as the color scheme according to the color palette of the year or the design of the bag depending on the product line, creating more accents and value for the product The bag is the outer part and also directly speaks to the value of the brand, contributes to creating more value for customers, and is an effective marketing tool, so it should be emphasized in parallel with the product.
- Shoe boxes: In the mid-range segment, Adidas shoe boxes not only protect the product but also create a highlight for the brand and the product inside The box must have a solid design that fits the product, and the color and texture must match the design of the product inside, emphasizing the difference of the product compared to other products and contributing to the trust of customers customers for the product.
- Localization is an indispensable part of entering international markets; creating a trend or a cultural trend in Vietnam will help businesses approach and connect customers with the brand Making use of packaging to let customers see the respect and priority of the brand for themselves makes a difference in the design of culture-based packaging, such as printing some typical Vietnamese cities on the
21 website The reverse bag with the logo is also a way to create sympathy and love for customers.
Product support service: To be able to create trust with customers about the product, Adidas needs to pay attention to product support services.
- It is necessary to build a team with sufficient expertise to be able to advise on information as well as solve problems or answer questions from customers.
- For products that are sold, it is inevitable that customers will make mistakes with the product or that customer needs will change, and it is important for customers to have a good experience with the product and trust in the brand Adidas needs to have a good exchange, return, and refund policy Besides, shipping services also need to be considered for customers buying online It is possible to cooperate with a number of local partners, such as Fast Delivery, Ahamove…to bring products to customers or ship products when customers need to exchange or return them quickly.
New product development: Diversifying product lines helps the brand get closer to the diverse needs of customers and create a competitive advantage over competitors Adidas needs to focus more on launching new products because competitors are always judged to have more diverse products It is possible to consider, research, develop, and produce a number of other product lines, such as:
- Features: basketball shoes, smart shoes with a variety of features such as heart rate measurement, steps, etc., specialized shoes for people with disabilities or problems with bones and joints, etc.
- Fashion: Constantly updating trends and creating trends with modern, disruptive, diverse designs is essential for new products when coupled with product features.
- Fashion trends are like a cycle of the development of old and new trends, so brands can take advantage of designs that have achieved achievements from the launched line and create designs that achieve certain achievements Add new products and improve quality. b Price
Continue to use skimming and bidding strategies Combined with conventional products, Adidas offers a stable price, paying attention to competing with current competitors such as Nike, Reebok, and Puma.
As for products that are about to hit the market in these 3 years or have a unique design, Adidas continues to use a skimming price strategy In addition, Adidas should expand its products across price ranges from high to low.
Expanding Store Network: The company can continue to expand its number of stores directly or through local partners Opening stores in strategic locations and in new markets can increase access to customers For instance, Adidas could consider opening an additional flagship store in a major shopping center in Hanoi, Vietnam This store could not only showcase high-quality Adidas products but also create a unique shopping experience with sports events and interactive activities.
Enhancing Online Presence: With the growing trend of e-commerce, the company can focus on developing its online store, providing convenience for customers, and offering a comprehensive shopping experience Adidas's online store can provide personalized fashion advisory services using artificial intelligence. Customers could interact with a chatbox to receive style suggestions and product recommendations tailored to their preferences.
Collaborating with Distribution Partners: Adidas can maintain its collaborations with local distribution partners to access challenging markets This approach helps broaden the distribution reach and enhance the global presence By extending Adidas's presence to other cities with potential, the company can gather market insights and make informed decisions for long-term market development beyond major cities.
Integrating New Technologies: Leveraging advanced technologies such as artificial intelligence and augmented reality can improve the shopping experience. Adidas could develop an AR-based shoe fitting app, allowing customers to "try on" shoes using their smartphones before making a purchase Additionally, integrating AI- driven foot measurement standards can provide customers with an overview of Adidas's shoe offerings This integration could also allow for convenient online shopping, leveraging AI-driven measurements. d Promotion
Marketing Campaign with insight: "Fashion trends are constantly changing in the age of multicultural fashion, and I feel lost in the trends and my values I admire new things, but I always respect values traditional Therefore, it is difficult for me to determine the fashion style that suits my lifestyle as well as express my personality and preferences in many ways, especially in the confusion between modern shades and colors classic, so that I can confidently assert myself."
Big Idea: “One moment, BUT not one style”
IMPLEMENTATION CONTROLS
Plans for monitoring are being developed to provide an overview of the exploitation, development, and marketing activities of the organization.
We always strive to maintain product quality, ensure product safety, and increase customer happiness and trust when using the product Signs of plan departure, such as monthly revenue (by segment and channel) and monthly expenses, will be noticed and constantly monitored by the company.
Leads the marketing strategy for a wide range of products and markets around the world, with overall responsibility for all marketing operations and the capacity to lead her team in a creative, imaginative, and long-term manner to add value to the brand.
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Chiến dịch IMC của adidas (2019, 6 18) Retrieved from GreenWay: https://greenway.com.vn/chien-dich-imc-cua-adidas/ ĐẦU TƯ TRỰC TIẾP NƯỚC NGOÀI TẠI VIỆT NAM NĂM 2009 VÀ TRIỂN VỌNG NĂM
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Nguyen, B (2020, 08 29) Biên niên sử Sneaker Việt Nam? Sneaker khác giày thể thao như thế nào? Retrieved from SNEAKER DAILY: https://sneakerdaily.vn/bien-nien-su- sneaker-viet-nam/
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