principle of marketing marketing plan bitis

Summary ExecutiveOperating with the slogan “Biti’s takes care of Vietnamese feet'''''''', BINH TIENIMEX CORP., PTE.,LTD BITI''''S company has gained trust from customersand affirmed its position

HANOI UNIVERSITYFACULTY OF MANAGEMENT AND TOURISM

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PRINCIPLE OF MARKETING

MARKETING PLAN – BITI’S

2.Nguyễn Mai Doanh3.Nguyễn Quỳnh Anh4.Phạm Gia Như

2.22040500173.22040500064.2204050058

Lương Văn Lam

1 Summary Executive

Operating with the slogan “Biti’s takes care of Vietnamese feet'', BINH TIENIMEX CORP., PTE.,LTD (BITI'S) company has gained trust from customersand affirmed its position of being one of the leading footwear enterprises inVietnam This report is an analysis of the marketing plan of Biti’s companyfrom 2020 to 2021 The first section of our report provides some basicbackground information about the company’s history Next, there will be somegeneral analysis of Biti’s current market situation through the micro and macroenvironment Also, the current business performance and the Marketing MixStrategy for product which is also called 4P’s In order to assess the campaign'spotential for development, major success, and ability to overcome obstacles, weconduct a SWOT analysis of the company's current state From that, we canidentify the main issues that the company has to face Then we will consider theobjectives and strategies that help the company attain the mentioned objectivesefficiently Lastly, the action program will include information about themonitoring and implementation processes, along with detailed budget, timeline,and events that the company can follow

2 Company Introduction

Binh Tien Imex Corp, Pte., Ltd which is also know as Bitis’s was founded in1982 by Mr Vuu Khai Thanh It all started in the heart of Ho Chi Minh City,Vietnam, a small workshop with just 20 workers gave birth to a footwear brandthat would capture the hearts and soles of a nation Through sheer determination,unwavering willpower, and a humble approach to their growing success, Biti’shas set out to create shoes that weren't just about protecting feet but also aboutembodying the essence of Vietnam itself while managed to navigate through theeconomic challenges of the time to carve out a significant place for itself in themarket

Biti's has been on a continuous voyage of innovation and transformationthroughout the years, generating a vast range of footwear that is as different instyle as it is in shape Biti's has established a strong relationship with theVietnamese community beyond its products through collaborations with localcelebrities and influencers, as well as active participation in social andenvironmental initiatives Biti's commitment to community involvement has

solidified its position as a beloved brand that symbolizes the essence ofVietnam.

At the moment, Biti's products can be found in more than 40 nations, includingsome of the world's most competitive markets: Italy, France, the UK, the US,Russia, Japan, South America, China, and Mexico It illustrates the brand'scommitment to quality and the attraction of its goods on a worldwide scale.“About Biti’s – Bitis” (Biti’s, n.d.)

3 Current Marketing Situation3.1 Internal Environment

3.1.1 Current business performance

Biti's, a well-known Vietnamese shoe business, has done very well by payingspecial attention to what its clients require and desire This client-centricapproach has enabled the organization to create products and services thatpeople want, resulting in enhanced customer happiness, competitive advantage,and profitability

Despite the fact that this market-oriented marketing strategy incurs costs such asmarket research, new product development, and advertising, Biti's has beenprudent in its implementation They've kept expenses down by having a greatbrand reputation, always coming up with new concepts, and having a largenumber of locations where consumers can buy their items

However, Biti's has recently encountered some difficulties Biti's earnings in2021 will be 26.3% lower than in 2020 due to the Covid-19 pandemic—1,235billion VND, to be exact Their profit fell by 89.6% during the same period,earning only 8.7 billion VND (VnFinance, 2023)

Despite these obstacles, Biti's is remaining creative and adjusting to marketchanges In terms of market share, Biti's is currently placed 19th in the Fashion& Apparel category and 124,209th worldwide as of October 2023 (SimilarWeb,n.d.)

3.1.2 4Ps review

a Product:

Biti's has earned widespread acclaim for its diverse product range, catering tothe varying preferences of Vietnamese consumers From simple rubber sandalsto fashionable leather footwear and sports shoes, Biti's products are known fortheir convenience, durability, and aesthetic appeal The introduction of Biti'sHunter in 2016, weighing only 225g, marked a significant milestone inVietnamese footwear quality However, user feedback highlights concerns aboutthe stiffness and lack of elasticity in Biti's shoes, affecting overall comfort.Some products have also been reported to develop an unpleasant odor afterextended use, suggesting a need for material improvement

b Price:

Biti's has successfully positioned itself as a brand offering high-quality productsat stable and reasonable prices With a pricing range typically between 700,000VND to 1,500,000 VND, Biti's remains competitive in the market The pricingstrategy, including elements of price skimming, has contributed to quickinvestment recovery and the establishment of a premium brand image Thisintelligent pricing strategy considers the purchasing power of different customersegments, allowing Biti's to attract a wide range of consumers while maintainingprofitability.

c Place:

Biti's has strategically expanded its distribution channels, incorporating bothtraditional and modern approaches The traditional channels, comprising branchcenters and marketing stores, play a vital role in maintaining close contact withconsumers Additionally, Biti's products have reached over 40 countries andregions worldwide The brand actively promotes online sales channels,including websites, e-commerce platforms, and mobile applications Distributionpartnership programs with major retailers further enhance Biti's marketpresence, illustrating a comprehensive and well-managed distribution network

d Promotion:

Attractive promotional programs

During holidays and special events, fostering strong relationships withcustomers The brand also sponsors various major sports events in Vietnam,such as the V-League football tournament, V-League volleyball tournament, andthe Vietnam Open Badminton Championship This sponsorship helps Biti'sreach a large audience of sports enthusiasts

Notable campaigns

Soobin Hoang Son and Biti’s Hunter in "Đi để trở về" campaign andcollaborations with popular music stars like Sơn Tùng-MTP, have significantlyenhanced brand recognition These campaigns, with engaging music, visuals,and impactful messages, resonate well with the target audience, making Biti's aprominent player in the Vietnamese footwear market

Collaboration with strategic partners

Including major retailers like Thế Giới Di Động, Điện Máy Xanh, and Big C, toexpand its distribution channels and reach more customers The brand alsoworks with other sponsors, such as airlines, banks, and telecommunicationsfirms, to increase brand awareness and reach a larger client base

In conclusion, Biti's has strategically navigated the 4Ps to establish itself as aleading footwear brand in Vietnam Despite some product-related challenges,the brand's commitment to quality, innovative marketing, and a well-manageddistribution network has contributed to its success

3.2 Micro environment3.2.1 Suppliers

Due to Bitis's massive production scale, a huge number of raw materials arerequired to manufacture final products However, these materials are stilllimited Currently, domestic enterprises can only supply 40% due to highrequirements for quality and quantity of raw materials Therefore, 60% of rawmaterials are imported from outside of Vietnam (Taiwan, China, South Korea,…)

3.2.2 Marketing Intermediaries

Currently, Bitis Hunter's footwear products are present in more than 40countries around the world such as: England, Italy, France, USA, Japan, Russia,Mexico, South America, Cambodia, In addition, Biti's also diversifies the formof purchasing its products by combining sales through websites and e-commercesites Biti's products are distributed through online sales channels such asShopee, Lazada, Tiki, Lotte,

In the Vietnamese market, Biti's has built a distribution system stretching fromNorth to South, including 7 regional distribution branches, 200 retail stores, andmore than 1,500 retail distribution agents In 2020 and 2021, Biti's officiallylaunched Bien Hoa and Bao Tien factories in two consecutive years This eventaffirmed Biti's robust development and increasing production capacity to meetthe domestic and export market demand (Biti’s, 2021)

3.2.3 Competitors

Biti's is one of the leading footwear brands in Vietnam, facing competition fromboth strong domestic and international rivals Notable domestic competitorsinclude Thượng Đình, a well-established brand known for traditional, high-quality footwear, and Một Đôi Giày, introduced in early 2018, focusing onconvenient designs and high quality

In addition, Biti's competes with international footwear brands such as Nike,Adidas, Converse, Puma, renowned for their high-quality products, fashionabledesigns, and suitability for various sports activities These international brandshave gained popularity in the Vietnamese market due to their global reputation To compete effectively, Biti's must continue innovating its products, improvingquality, and expanding distribution channels The company should alsoconcentrate on building its brand and fostering customer loyalty in order tonavigate the competitive landscape

3.2.4 Publics

Biti's has carefully established strong partnerships with numerous publics,including financial, media, government, local, and general public, to supportbusiness growth and enhance brand image These communities are vitalresources for the company's growth, and Biti's has effectively developedbeneficial relationships within each

Financial publics: To keep its financial publics informed, Biti's regularly

releases its financial statements and hosts investor meetings

Media Publics: Sent out by Biti's to keep the media updated on company

operations Inquiries from the media are handled by the company's specializedmedia relations team

Government publics: Biti's employs a group of experts in government relations

who are in charge of keeping an eye on laws and advocating on behalf of thebusiness

Citizen-action publics: Biti's interacts with publics that take action by means of

its CSR programs Additionally, the business has a specialized customer supportteam that handles customer concerns

Local publics: Biti's participates in several neighborhood projects Additionally,

the corporation maintains a team dedicated to community relations, which is incharge of cultivating connections with nearby businesses and residents

General publics: Is the target audience for Biti's advertising campaigns The

business uses social media to interact with customers

Internal publics: Biti's has several initiatives in place to inform and involve its

staff Information exchange with employees is handled by a specializedemployee communications team within the organization

3.2.5 Customers (STP)

Segmentation:

 DemographicAge: from children to adults.Gender: male and female.Income: low, middle income or higher.Education: mainly focused on elementary school, high school, college,and university

 Psychographic: Lifestyle: Playful and energetic for children; active, sporty and trendy forthe youth; comfortable and functional for adults

Personality: people who want to try new designs and styles that matchtrends

 BehavioralPurchase FrequencyBrand Loyalty

Targeting

Biti's effectively segments its target market into distinct groups based ondemographics, psychographics, and behavioral factors The company targets abroad age range, with a particular focus on the youth segment (7-25 years old)They are young people who have income level from low to middle or theirmoney comes from parents This group is the ideal customer segment for Bitis,

whose products provide trendy designs at affordable prices The primary marketis in urban areas like Ho Chi Minh City and Hanoi However, it is expanding itsreach to other Southeast Asian countries Biti's targets active and fashion-conscious individuals who value style, comfort, and Vietnamese heritage Thecustomers are interested in sports, fashion, and music, aligning with the brand'soverall image and marketing campaigns Therefore, Biti's Hunter's designs,which are youthful, affordable, appeal to the targeted segments and meet theirneeds.

Positioning:

Brand positioning map:

Biti's positions itself as the footwear brand of choice for active and conscious individuals who value style, comfort, and Vietnamese heritage Aboveall, the slogan "Nâng niu bàn chân Việt" was born at that time and haspositioned the brand in the hearts of consumers through television advertising.They offer shoes made from good quality materials and construction, and theyare designed to withstand everyday wear and tear In addition, Biti's Hunter notonly provides good physical products, it also captures the psychological valuesof a young, sporting lifestyle Other brands such as Nike and Adidas cannot

fashion-connect with Vietnamese consumers’ insight as Biti’s (affordable, Vietnamesebrand).

3.3 Macro environment3.3.1 Political environment

Biti's and other companies in Vietnam enjoy a favorable working environmentdue to the government's focus on economic development and improving thelives of its population However, their business operations may be affected bytaxes, labor laws, intellectual property protection, tariffs, and quotas Thegovernment enforces minimum wage statutes and overtime compensationrequirements, which may increase operating expenses According to Viet Nam’sIntellectual Property Strategy, the government has enacted a variety of rulespertaining to trademark and copyright protection, which have the power to stopbusinesses from duplicating or counterfeiting their designs or goods In general,Biti's Hunter and other businesses can be safeguarded and expanded by politics

3.3.2 Cultural environment

Cultural aspects significantly influence business, impacting marketing, sales,and distribution They also influence an organization's strategy for entering newmarkets Biti's has a chance to grow and improve recognition in Vietnam due tothe campaign promoting Vietnamese products They include knowledge, beliefs,art, rituals, moral norms, customs, and any other capacity or habit acquired byhumans as members of a society and through which values are acquired (Madni,2013)

Additionally, Biti's offers Vietnamese culture-infused shoe production options,complementing the current shift in consumer preferences towards active,comfortable footwear Owing to shifting consumer preferences, this new marketniche has the potential to enter the global shoe industry

3.3.3 Natural environment

Availability of raw materials like rubber, leather, and textiles can have an impacton Bitis Hunter's capacity to meet demand as well as production costs