Because the price segmentof Tuong An is suitable for all audiences.German consumers are very interested in product quality, how products are made.Therefore, businesses need to pay more a
THE FINANCIAL UNIVERSITY OF FINANCIAL – MARKETING THE MARKETING DEPARTMENT - - FINAL EXAM ASSIGNMENT TƯỜNG AN OIL JOIN THE GERMAN MARKET Course Name: International Marketing Course’s code: 2321702031207 Lecturer: Đặng Huỳnh Phương Team’s members names and IDs: Tạ Phương Thanh Từ Thanh Tài Lê Nguyễn Diệu Vy Mai Thị Thuý Kiều Team’s Class: CLC_21DMC02 Ho Chi Minh City - 2023 MEMBER'S GROUP WORK ASSESSMENT: Member ID Group work assessment Từ Thanh Tài 2121000500 Tạ Phương Thanh 2121000350 100% Lê Nguyễn Diệu Vy 2121000460 100% Mai Thị Thuý Kiều 2121000384 100% 100% i TABLE OF CONTENT MEMBER'S GROUP WORK ASSESSMENT: i TABLE OF CONTENT .ii TABLE OF IMAGES vi TABLE OF BOARD vii EXECUTIVE SUMMARY COUNTRY SELECTED 2.1 Brief discussion of Germany’s historical developments 2.2 The National Business Environment 2.2.1 People 2.2.1.1 Languages .2 2.2.1.2 Cultures 2.2.1.3 Religion 2.2.1.4 Population .3 2.2.1.5 Age structure 2.2.2 Government 2.2.2.1 Head of state 2.2.2.2 Government bureaucracy 2.2.2.3 Direct Investment (FDI) 2.2.2.4 Monetary Policy 2.2.2.5 Social heathcare .5 2.2.2.6 Social security .5 2.2.3 Geography 2.2.3.1 Type of surface areas .5 2.2.3.2 Major cities ii 2.2.3.3 Climate 2.3 Market and Size Potential 2.3.1 Economy 2.3.2 Infrastructure 2.3.3 Media & Technology 2.3.4 Competitive Environment ENTRY MODE SELECTION .11 3.1 Favorable: 11 3.2 Hard: 12 3.3 Opportunity: .13 3.4 Challenge: 14 4.TARGET MARKET 15 4.1 Target market 15 4.2 Market Segment: 16 4.2.1 By demographics: 16 4.2.2 By age: .16 4.2.3 By income level: 16 4.2.4 According to lifestyle, values and buying behavior: 17 MARKETING OBJECTIVES .18 5.1 Marketing Objective in the year 18 5.1.1 Increase potential customers in 12 months 18 5.1.2 Increase brand awareness in 12 months .18 5.1.3 Reduced downtime in months 18 5.1.4 Increase website traffic in months 19 STRATEGIES 20 6.1 Product strategies 20 6.1.1 The product is innovative 20 iii 6.1.2 Product adaptations 21 6.1.3 Compare Tường An Oil to competitors’ products .21 6.2.1 The goal of the pricing strategy 22 6.2.2 Price selection facility .22 6.2.2.1 Domestic production and shipping costs 22 a Investment in technology, production lines 22 b Cost of input materials 23 c Transportation costs 23 6.2.3 Provisions in tariff barriers 23 6.2.4 Competitor's price 23 6.2.5 Price list of VAT 19% TND 20% .24 Tuong An Extra Virgin Olive Oil 500ml 24 6.3 Promotion Strategies 24 6.3.1 Detailed activities of year 1: 25 6.3.1.1 State (last months) 25 a Main activity 25 b Execution plan 25 6.3.1.2 Phase (Last months) 26 a Main activity 26 b Execution plan 26 6.3.1.3 Stage (lasts months) 26 a Main activity 26 b Execution plan 27 6.3.2 Detailed activities of Year 2: 27 6.3.2.1 State (last months) 27 a Main activity 27 b Execution plan 27 iv 6.3.2.2 Phase (last months) .27 a Main activity 27 b Execution plan 28 6.3.2.3 Stage (last months) 28 a Main activity 28 b Execution plan 28 6.3.3 Year 3: 29 6.3.3.1 State (last months) 29 a Main activity 29 b Execution plan 29 6.3.3.2 Phase (lasts months, during the food festival season) 29 a Main activity 29 b Execution plan 29 6.3.3.3 Stage 3(lengthen) 30 a Main activity 30 b Execution plan 30 7.FINAL RECOMMENDATION: .31 7.1 Recommendations 31 7.2 Evaluate 31 7.3 Measure 31 7.4 Control 31 APPENDICES ix REFERENCES .x v Document continues below Discover more fMroamrk:eting CLC18DMA02 Trường Đại học Tài… 277 documents Go to course The Cocoon Original Vietnam Marketing… 38 99% (171) TIỂU LUẬN CHIẾN LƯỢC SẢN PHẨM M… 51 97% (211) CASE-6- Uniqlo - Marketing quốc tế-… Marketing None Quốc Tế INTERNATIONAL MARKETING PLAN… 35 Marketing 100% (10) Nguyên Lý Marketing - CHIẾN LƯỢC… 33 Marketing 93% (40) THE 7Ps MARKETING MIX OF VIETJET AIR 70 Marketing 100% (4) TABLE OF IMAGES Image 2.1 Population growth for Germany Image 2.2 Percentage of population .4 Image 2.3 GDP of Germany (Source: World Bank, 2021) Image 2.4 AutoBahn Unlimited Speedway Route .8 Image 6.1 Logo and message of Tường An .25 Image 6.2 Poster of Tường An 26 Image 6.3 Promotion buy get of Tường An 28 Image 6.4 Cooking Contest of Tường An 28 vi TABLE OF BOARD Board 6.1 Board compare Tường An Oil with competitor 21 Board 6.2 Price list of Tường An .24 vii EXECUTIVE SUMMARY Regarding products, Tuong An needs to improve packaging and product materials to suit the needs of German consumers In addition, prioritizes healthy products as well as diversifying models and sizes to attract diverse customer segments In terms of price, businesses need to promote this strength Because the price segment of Tuong An is suitable for all audiences German consumers are very interested in product quality, how products are made Therefore, businesses need to pay more attention to the production stages by using modern, environmentally friendly technologies, Launched marketing strategies to increase brand awareness in the German market by increasing website engagement, social media strategies, etc Tuong An needs to promote its strengths in distribution through indirect and direct sales channels Increase brand competition with domestic and foreign competitors