a study on the marketing mix strategy of lotteria in vietnam period 2004 2017

Contents Figures I ABSTRACT The marketing mix is a foundation model in marketing, it has become the dominant framework for marketing management decisions of any enterprises Our research paper concentrate on how Lotteria has applied the concept of marketing mix 4Ps from 2004 to now, and the role of this strategy in the achievement of business in Vietnam fast food market Compared to previous works, our thesis is mainly based on the business practices, rather than the theoretical analysis However, we still use some fundamental theories as the basis for our research The literature is collected from varieties of economics online web pages concerning the contents of the marketing mix 4Ps: product, price, place, promotion and the secondary data of this study are mainly aggregated from online newspaper articles, as well as the website of Lotteria The combinations of practical information and theoretical contents demonstrated that thanks to putting the marketing mix 4Ps into use appropriately, Lotteria has acquired much success in Vietnam Nowadays, with an international stature, Lotteria is leading the fast-food industry in Vietnam with over 210 restaurants in approximately 30 cities/provinces throughout the country and these numbers are increasing incessantly Besides, Lotteria has covered the entire market by diversifying its products, including chicken, burger, drink, rice, and dessert In addition, the prices of Lotteria products are set at suitable levels, helping the company improve its competitiveness in the context of Vietnamese consumers are always price sensitive Moreover, the promotion strategy of Lotteria is also outstanding because it has taken advantage of the boom of Korea culture in Vietnam II INTRODUCTION The franchising model is popular and well-suited to a developing economy like Vietnam The culture of entrepreneurship is ideally suited to franchising as it provides investors with a relatively rapid avenue of entering business with controlled levels of investment and at a reduced risk In 2016, franchise deals rose 15 to 20 percent compared to 2015 At present, most franchised businesses in Vietnam are focused on fast food and retail Many factors lead to the success of franchising in Vietnam, prominent among them is marketing Marketing is one of the most long-life and important parts of business world A proper marketing strategy holds a crucial position in the success of any companies Marketing means the identification of what people and society need If a product is sold but not meet demand of customer, it will not have profit Within many marketing strategies for the companies to choose, marketing mix 4Ps is a well-known marketing strategy that is applied widely by many firms Of the leading food franchise brands in Vietnam, Lotteria is the most common name Since Lotteria penetrated Vietnam, it has gain many significant achievements The aim of this research is to present the information and knowledge, which our group has obtained and conducted about the marketing mix 4Ps of Lotteria and also, its effects to the success of company The main research question is: “How has Lotteria applied the marketing mix 4Ps?” In order to support and supplement the answer for the main research question, the research is divided into three parts:  The first one is to generalize the fast food market in Vietnam and Lotteria company  The second one is to deeply analyse about Lotteria marketing mix strategy  The final one is to demonstrate the success of Loteria thanks to apply 4Ps The research will concentrate on analysing 4Ps: product, price, place, promotion and the business results: marketshare, revenue, earning before income taxes, compare Lotteria with their competitor especially KFC and so on Because of the purpose of this study and our abilities, we choose to use qualitiative and quantitative research method, combining with descriptive and explanatory In addition, the secondary database is used and taken from reliable sources such as website of Lotteria, marketer Vietnam and other online newspapers During the process of making this research paper, we have faced several limitations These obstacles are mainly caused by the reason that the research is written in English, we have limited budget as well time and knowledge Hence, it is not a simple task for us to manage the research strategies in the most efficient way III BACKGROUND Marketing in general In the modern life, marketing plays an integral part in the development of organization More than just selling and advertising, which people usually think of, marketing of today must be understood in the new sense of satisfying customer needs (Kotler and Armstrong, 2014) Marketing is defined by many ways According to the social definition, marketing is societal process by which individuals or groups obtain what they need and want through creating, offering, exchanging products and services of value freely with others However, there are many other definitions of marketing To get into marketing, it is helpful to understand what exactly marketing is So here are some experts’ definitions of marketing: • “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society • at large.” — American Marketing Association “Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.” — Philip Kotler • “Marketing is any contact that your business has with anyone who isn’t a part of your business Marketing is also the truth made fascinating Marketing is the art of getting people to change their minds Marketing is an opportunity for you to earn profits with your business, a chance to cooperate with other businesses in your community or your industry and a process of building lasting relationships.” — Jay Conrad Levinson Marketing strategy and marketing mix A marketing strategy is a plan for reaching people and turning them into customers of the product or service that company provides The marketing strategy of a company covers the company’s value proposition, main marketing messages, information about the target customer, and other factors Marketing mix is a marketing tools that being used to implement marketing strategy of a company It includes which a company can to influence demand for its product It is also a useful tool to help marketing planning and execution Marketing strategy and marketing mix are closely related elements of a complete marketing plan While marketing strategy is concerned with setting the direction of a company or product line, the marketing mix is considered in nature and how to carry out the overall marketing strategy An effective marketing strategy have the 4Ps of the marketing mix It is composed of four variables referred to as the 4Ps of Marketing: product, price, place, and promotion (Rafiq and Ahmed, 1995) Figure 1.The Four Ps of the Marketing Mix (Kotler and Arsmtrong, 2014, p.76) Product A product is goods or service that a business owner brings out for sale to his target market It means developing a product, including the design, quality, packaging, features, after-sales service, and customer service should be considered Price The price is the amount of money that customers have to pay to purchase products or avail of services There are several factors that you have to consider when it comes to price These include discounting, price setting, credit collection, and cash and credit purchases Place This regards to location, distribution, and ways of delivering the product to the customer The place may include the location of your business, distributors, stores, possible use of the Internet, and transports Promotion Promotion is all about the act of communicating the values and benefits of your products to your customers It involves the use of different methods, such as direct marketing, sales promotion, advertising, and personal selling to persuade customers to your business IV TECHNICAL SECTIONS Overview of the fast food industry and Lotteria restaurant chains a Overview of the fast food industry in Vietnam Fast food is a name for food that is made and presented to costumers in short time It is usually made with preheated or precooked ingredients, prepared in bulk and sold in packages for takeaway As a term, “fast food” appeared for the first time in Merriam–Webster dictionary in 1951 but its roots are much, much older The fast-food industry is considered as a nascent industry in Vietnam in the 1990s Today, the industry is beginning to thrive in Vietnam's two major cities, Hanoi and TP Ho Chi Minh At present, fast food market in Vietnam is experiencing harsh competition KFC, Lotteria, Jollibee, and Gloria Jean's Coffees continuously opened stores in beautiful locations in Ho Chi Minh City and Hanoi Ministry of Industry and Trade showed that total sales of Vietnam fast food sector in 2011 was estimated at VND870 billion, up 30% y / y According to research by AC Nielsen, Vietnam is a primary fast-food market when about 8% of consumers use fast food from 1-3 times a month and about 90% of Vietnamese consumers are not familiar with fast food This figure is too low compared to neighboring countries such as Thailand, Malaysia, China, India has more than 70% of consumers eat fast food at least once a month Although the number is relatively modest (less than 10% of Vietnam's population) have a habit of using fast food, but with the pace of economic development and increased demand in modern life, the demand for food Vietnam fast food is growing For the majority of the population under 25, Vietnam is also an attractive market for food and drink This young generation is considered to be more accepting of foreign products and products International brands such as McDonald's, Haagen Dazs, Burger King will take care and see young people as their main customers Social media plays a significant role in bring fast food brands to the youth However, according to Mr.Truong Vo Ham Liem - Lotteria Marketing Director (Lotteria chain, Lotte Group, South Korea), in the past two years, the fast food market has been stalled and is being threatened by many competitors, including F & B (food & beverage) brands, local restaurants, Japanese and Korean restaurants, coffee chains and convenience stores (both fast and local) Its revenue is dropping because of many factors, but the most important one is that the market has more competitors Many fast food chains have changed their strategy, even ready to "wipe out" ineffective stores b Lotteria Lotteria is a chain of fast-food restaurants in East Asia that grew out of its first shop in Tokyo, Japan in September 1972 Taking its name from its parent company, Lotte, it currently has franchises in many Asian coutries It is under the Lotte Group - one of the five largest conglomerates in Korea For seven years, it was the No.1 "Brand Power," which was awarded the "Korea Management Association," and was named No.1 Brand Competitive Brand Branding value brand value  In 1972, company first appeared in Japan and is named after the parent company ( lotte)  October 1979 The first restaurant was in Korea with the launch of kimchi sandwich  By 1990, the 100th outlet was opened in Taehakro - Seoul  Two years later, revenue reached billion won  By March 2003, reaching the milestone of 900 stores in Korea  In January 2004, Lotteria officially entered Vietnam Lotte entered Vietnam market with their forte – food and beverage In Vietnam, with KFC, Lotteria is the main player in fast-food franchising business (Tuoi Tre 2012) Lotte’s mission is to create high – quality services and products contributing to an abundant life for their customers through creativity exploration and challenge confrontation Entering Vietnam market, as the similarity in dining culture as well as Asian taste, Loterria Vietnam quickly attracts the taste of Vietnamese by the outstanding flavour of modern Korean fast-food With the stable development and market share in Vietnam, Lotteria aims to become the 1st choice brand in the near future (Lotteria 2012) With strong growth of economy, consumers now prefer the convenient and affordable food as their first option in their hectic daily lifestyle Realizing this rising demand, many fast-food franchises have entered the young Vietnamese market with the hope to offer consumers with more alternatives to their dining options They provide products for consumers with suitable prizes and high availability The two biggest fast-food franchises in Vietnam today are KFC and Lotteria, with the total of more than 250 stores across the country (Tuoi Tre News 2012) If KFC locates in its customers' minds with its signature fried chicken, main focus of Lotteria when entering Vietnam is still hamburger, the forte of the franchise Figure Menu of Lotteria Vietnam (Lotteria.vn) SWOT analysis Strength - - - Weakness Lotteria’ menu contain similar flavor to the taste of Vietnamese customers, which cause the easy adaptability of customers to the food Stores are available in almost every center of urban areas across the country, which helps Lotteria maintains the top position in market share Reasonable cost, cheaper than other competitors, Lotteria attracts the variety of target segments and owns high market share Lotteria keep its high food hygiene and safety, which create a good image in customer’s mind as an environment-friendly service and product 10 Although Lotteria is fast-food restaurant but sometime, the customer have to wait a longtime for their orders Therefore, Lotteria should improve its service more fast and convenient Although hamburgers are main menu which make Lotteria stand-out; there is few promotion for this products Hence, Lotteria should develop continual long-term promotion for burger product category the name LOTTERIA It also makes people easy to think of Hamburger yellow color - typical product of Lotteria This is also the exclusive logo of this brand Package & Design Lotteria chains toward modern, convenient and cozy, hence they use red as the dominant color in their restaurants Others colors like white, orange, yellow are also used to make people hungry and attract attention to customers Lotteria’s products Figure Logo of are boxed by recycled materials because their campaign is to reduce the negative influence of disposable packaging to the environment For delivered products, they are wrapped in two layers of packaging: • The first layer is foil paper that keeps the • temperature and quality better and longer The second layer is recycled paper and recycled PE with the logo on it Lotteria also minimizes the use of plastic packaging to protect the environment Most food and beverages in the restaurant are in glassware and reusable plastic containers Trash can be classified by material such as paper cups, plastic and straws, rigid packaging, napkins Ice is put into a separate container This helps Lotteria create an environmentally friendly image and increase the reputation Figure Packaging of Lotteria products (Foody.vn) of products in consumers Size Products of Lotteria include in many sizes: big, medium and small therefore they are in accordance with ration and income of everyone Services Lotteria has speedy service Customers don’t take a long time to get their food There is nothing that is better than having a considerate meal for busy life now Furthermore, when customers come to any Lotteria stores, the staffs always have cheerful smiles and give them a welcome message: “welcome to Lotteria” In addition, customer can use the internet freely in any stores of 13 Lotteria, which makes customers enjoy the meal and read online news or chat with their friends at the same time Strategies of developing brand Figure Brand Development Strategies (The Marketing Study Guide) Lotteria is using line extension at present, where they can keep developing new products to adjoin into their categories The latest products which Lotteria supply to customers are Dak Gang Jeong, Tang Su Yuk and Lemonade, catching up with the trend In addition, to make products be in accordance with Vietnamese customers, Lotteria expanded their menu with Rice and Soup that use with the chicken Besides, Rice burger is now adjoined into the menu together with Rice bulgogi and Rice chicken value Lastly, ingredients of Humbuger, double cheese and double bulgogi are changed to fulfill the demand of customer 14 b Price Price is an important factor in attracting customers to the company’s products and services Therefore, proposing suitable pricing strategies is not a simple task, but they are significant to determine an effective business strategy In order to compete in such constantly changing and aggressive marketplace, Lotteria has been using some specific pricing strategies to differentiate itself from its competitors Factors affecting pricing decisions Internal factors − Product positioning The price of Lotteria is not very expensive, it is suitable for customers’ needs and trends, and can compete with other competitors in the market − Marketing strategy Lotteria provides high quality products, ensure food safety The marketing oriented objectives is to take a lead in quality as well as to extend the market share It will set its product price higher than roadside diner one and competitive price comparing to KFC’s instead of high −    − price Costs Fixed costs: costs are made by signed long term contracts Variable costs: costs increase when increasing output in the product development period Costs of consumption: essential cost for discount’s payment External factors Type of market Due to only KFC is truly competitor in the area of fast foods, it is kind of selling market competition Therefore, Lotteria needs to check the change of KFC price regularly to timely deal with it − Cost - based pricing and competition - based pricing  Hambuger of Lotteria must compete with many business rivals in the market However, there is high degree of similarity between Hambuger of Lotteria and KFC’s  Setting the price below the market and take a loss if the customers believe that the Lotteria’s products are in the lower position comparing to KFC’s  Setting the price above the market and have difficulty in product consumption Company’s pricing strategies List price Since its first entrance, realizing Vietnamese consumers are highly price sensitive, Lotteria uses market penetration pricing by setting its products at a relatively low price compared with its competitors, in order to penetrate the market quickly by attracting a large number of buyers.With 15 various products, ranging from main dish, side dish to deserts and snacks, the current price for Lotteria is only from 5,000 vnd up to 260,000 vnd, depending on different products Figure Ice-cream - The lowest price product Figure The highest price product Discounts Quantity discount: Lotteria uses the discount price for the consumer based on the number of chicken pieces they would like to buy The price will be adjusted on each chicken combo For example: if they want to have piece cheese chicken, they would have to pay 36 000VND But if they buy pieces, they would have to pay 215 000 VND This can help the customers save up to money Also, it helps to encourage the customers to buy more Product mix pricing strategies − Product bundle pricing This strategy offers combination of products or services, usually some complimentary products to encourage the purchase amongst potential consumers The price of combination of a main dish (chicken, rice, or burger), a side dish and a beverage is at the reduced price compared to the sum of separate purchase prices By this way, not only can the customer save up money, minimize their confusion and maintain satisfaction, but also Lotteria gains more benefits by getting more revenue from each customer 16 − Product line pricing It sets price steps between various items in a product line based on:  Costs differences between products  Customer’s evaluations of different features  Competitors’ prices Lotteria offers many product lines for its customers The main product lines of Lotteria are beverage, chicken, rice and burger Nevertheless, Lotteria also provides various snacks and icecreams Within each product line, the prices of products are also varied This strategy aims to offer customers the variety of choices For instance: For beverage, Lotteria’s products are from 15,000VND to 22,000VND For chicken fried, the prices vary from 29,000VND to 260,000VND Price adjustment strategies − Timing pricing strategy They offers customers discounts on a certain day It is called Daily Buzz or Happy Menu For example, providing discount for only students from 5PM to 8PM on Wednesdays or at the peak time for office staffs By this way, they can attract many customers in this segmentation Moreover, they provide several economy combos with customers in time frame 11am – 2pm from Monday to Friday This helps to bring a convenient, nutrient and comfortable lunch for busy people 17 Figure Lotteria happy lunch poster (Lotteria.vn) − Location pricing Lotteria develops the system of online order for customers who cannot buy directly Addtionally, it provides discount of 10% for online order sometiomes Both help Lotteria to get more customers in this segmented customers Market penetration strategy To penetrate in Vietnam market, Lotteria sells new products at low price at the beginning so that anyone could buy their products By doing this way, Lotteria becomes familiar brand with many people and get a large share of sustantial market For example, in the first months, Lotteria will apply the strategy as follows: Cusomers buy the new products and get one cup of drink or buy one get one for free so as to introduce this new kind of product This may make the production cost increases but it appeals the customers’ trial c Place Figure Price strategy for new product of Place represents the locations where a product can Lotteria - Cheese sauce chicken (Facebook be purchased It should be called to the Lotteria) distribution channels It can be understood that any stores in the real life or anys shop on the Internet Delivering the product to where and at what time the customer requests is one of the most important aspects of any marketing plans 18 In order to fill the market, Lotteria has established a nationwide distribution network Only in Ho Chi Minh City, Lotteria now has 84 stores throughout the districts (Lotteria.vn) This is big advantage because Vietnamese often hesitant to go out to eat goods, enjoy the convenience Although many competitors such as KFC, McDonalds, Pizza Hut, BurgerKing have a large number of stores worldwide, in Vietnam, their stores are still very modest in comparision to Lotteria It can be seen that Lotteria is very determined in the market in Vietnam Channels Lotteria Vietnam is an official franchise of Lotteria® However, it is not controlled and managed by the parent company Lotteria Vietnam only follows the core ingredients and recipes that provide by Lotteria® in order to remain the same production According to Kotler et al (2009), Lotteria Vietnam is applying the service firm-sponsored retailer franchise system where it has to pay for the use of Lotteria® brand name while remains some regulations of the mother company Lotteria has been applying direct marketing channel by having products directly distributed from stores to customers This method helps control the consistency of messages, so build a clearer brand image towards customers However, this can cost a lot more than having many intermediaries to help distributing the products Based on its business objectives, Lotteria's choice in the form of franchise distribution is the best choice of fast food chains in the world To now, Lotteria have appeared throughout the country Most of them are big cities, urban centers In addition, Lotteria also hired additional stores on the street to open its own store The reason is that Lotteria can serve customers after shopping at supermarkets, working in offices, so they can rest and enjoy the company's fast food At the moment, Lotteria has already had a number of business relationships with some big shopping malls and supermarkets for example Co-op Mart, Maximart, Parkson, Vincom, etc Through this system, the company and its partners plan to achieve their objectives faster with the combination of resources from both sides Coverage Lotteria opened the first store in Vietnam in 1998 After many years of expansion, Lotteria has many stores covered 64 cities in Viet Nam The chain of restaurant are more and more developing and occupy the fast food market The major cities such as Ha Noi, Ho Chi Minh City 19 concentrates many stores, there are 35 and 84 stores, respectively These stores is located in the area which has many inhabitants as well as young people so today, Lotteria becomes familiar to people in Viet Nam Assortments Lotteria reviewed and adjusted the assortment in light of competition, culture, and changes in preferences of the target market Lotteria is a Korean brand, so its cuisine cultures is quite same as Viet Nam culture Therefore, Lotteria’s product are easily to be accepted and interested by Viet Nam youth who enjoys finding various foreign cultures Locations The restaurants of Lotteria built in the center of city, in shopping center, also near office, school, huge road which make customers find it eassy to notice and park Moreover, these places possess beautiful and attractive decoration including colorful walls and furniture that catch customers’ eyes Transport In Vietnam, when you want to order Lotteria, you can use Delivery Service and call number 18008099 to order every product on Lotte’s menu that you want (you can see directly this menu in the Lotteria’s website or telesales will introduce it for you) This is a free number and Lotteria will deliver at home for you With the convienient, you will no have paid any fees for delivering at your home Besides, telesales will give you all the promotion’s information (if have) of Lotteria restaurant 20 Delivery staffs are specialized in their delivery job, they help deliver customer’s order to the right place in the shortest time Specially, they must assume their customer will receive the right set that customer ordered with the same quality as in the store d Promotion Promotion is very important for Lotteria to build and maintain relationship with customers as well as to promote their monthly updating products and special discounts Currently, Lotteria use a lot of promotion tools: Advertising, Sales promotion, Publicity, Direct selling Personal selling Advertising Advertising is a method of stimulating the demand for a product and creating loyalty to the brand Advertising is one of the major forms of competition that distinguish one product from another and is used to inform prospective buyers about a particular product to convince them that the brand this surpasses competing brands TVC – VIDEO: Lotteria has built many successful ads In addition to the success of TVC with its hauntingly vocal voice singing opera "lotteria", the company also succeeded in offering humorous videos introducing service, service space, new product programs or attach the image of the company with the famous stars like "Snuper in Lotteria", Bigbang,… Undoubtedly, everyone knows how Korean culture is expanding all over the world In Vietnam, the Halyu (Korean culture) labyrinth is even stronger and overwhelmingly dominates the American Dream Taking advantage of that, Lotteria has branding in Korea The Lotteria branding is associated with other sectors of the Lotte Group such as entertainment, travel and film, contributing to the brand value of Lotteria The Lotte Group also invited influential figures in the entertainment industry as brand ambassadors, among them the most popular group Kpop Big Bang Official Website: The main website of Lotteria (www.lotteria.vn) is used to provide the menu of Lotteria and also give the addresses of any Lotteria branch in Vietnam However, the official website is not developed consistently, which create the disruption in connection with our target customers, who usually look for menu and may look for online ordering This is a weakness of Lotteria compared to KFC when they promote a lot in delivery service as a part of fast-food service In-store display: Banners and posters in store are used to promote new product, promotions and monthly discounts with the images of products that look delicious and colourful This not only provides information to customers about Lotteria products but also help encourage customers to 21 come in store to buy products Lotteria constantly design innovative poster and banners attractive, humor catch up the trend to attract young people Lotteria also spends a lot of time sharing or writing content that is humorous, attractive and meaningful for its products: Newspapers/Magazines: Articles about monthly product promotions or discount on popular magazines and newspaper such as Tiep Thi Gia Dinh, Tuoi Tre, The Gioi Van Hoa It can attract multiple readers and it is a reputable way to advertise and promote a specific image through print media Sale Promotion Coupons: Lotteria constantly offers coupons to customers and attractive combo packages, taking advantage of every special occasion to attract customers Patronage rewards: When a customer regularly purchases Lotteria’s products, they are given a VIP card that allows them to save 10% of every bill at Lotteria later on Sweepstakes & Games: On Facebook page, Lotteria constantly holds contests to encourage interactions among target customers This attracts a lot of participants as well as encourages store visits and consequently purchasing 22 Public Relations Facebook page: approximately 1,2M people like fanpage Lotteria Facebook uses to broadcast any new promotion campaign and menu of Lotteria frequenlty This is a good way to spread information on social network because Facebook is a good medium to interact with customers Lotteria has been using Facebook to create events that helps increase visibility to the target customers This channel also helps create more interaction with customers compared to the website, especially easily reach and communicate with our target customers who are savvies of social media Customers can raise their voice to express their opinions and feedback about Lotteria products and services Sponsorships and Charity Besides focusing on the advertising strategies, Lotteria also perceives the importance of actions that bring sustainable values to the society and the community For that reason, many meaningful social activities have been proceeded, the most typical ones are: “Lotteria Challenge cup”, “The Charity trip for Lotteria Facebook fans”, “Hamburger castle”, “Charity canteen” Personal Selling Lotteria applies Territorial sales forces structure, which each sales team is assigned to selected geographic areas and sell all the products of Lotteria Lotteria stores are located everywhere in Vietnam, encompassing from different cities (Hanoi, Hai Phong, Da Nang, HCMC, Binh Duong, etc.) to separated districts in each city Since our target segments are living randomly in those urban areas, territorial sale force structure help Lotteria reach as many target segments as possible Also, for each particular area, Lotteria can develop the different promotion plan in order to fulfill the life-styles and taste of atmosphere and dining music background of customers For example, Lotteria in Phu My Hung and District 7, which a lot of foreigners and high-class customers living, Lotteria stores usually open the foreign music, which in other districts they open Vietnamese music Direct Marketing Online marketing: Business to consumer (B2C) online marketing is used by Lotteria at the moment Lotteria established an official website and official Facebook fanpage which has menu 23 available on a separate page for customers This helps customers to order Lotteria’s products via telephone for free delivery 24 Lotteria – success by applying the marketing mix 4Ps After 13 years in Vietnam market, Lotteria has step-by-step grown and developed In the market share of Vietnam’s fast food, Lotteria has recently become the leader, overcome its biggest rival KFC, ocuppied more than half of total market share Figure 10 Fastfood total demand and market share 2010-2014 (Vinaresearch) Lotteria’s product packages are innovated and being evaluated as good designs by many consumers Moreover, even though being in the leading position, Lotteria still set its product prices competitively instead of high price Its prices are also accepted as suitable by majority of Vietnamese consumers Besides it, Lotteria owns the largest restaurants network in Vietnamese fast food market, also among franchise brands Last but not least, Lotteria always pays attention to build the good images for the company by accompanying with many organizations in the social activities that attaching to community Briefly, applying the marketing mix 4Ps in proper ways has played an important role in making Lotteria becomes the leading fast food chains in Vietnam, as well as gained many desired achievements that could not be done easily by any company V CONCLUSION The concepts of marketing mix 4Ps have been applied widely into many organizations since they were introduced From the original 4Ps, there have been more “Ps” being researched and utilizing Nevertheless, the efficiencies that the original marketing mix 4Ps brings to corporations are undeniable Based on the data collected from different sources, the 25 achievements, which Lotteria has gained by applying the marketing mix 4Ps, were presented Although the fast food industry in Vietnam is considered not as attractive as before, the growth of the industry has still been quite large in recent years The growth and development of Lotteria especially in Vietnamese market have become the ideal example for any following company in this field Through this research, we have presented all elements of the marketing mix strategy, clarified their roles in Lotteria’s success However, there are still existences of obstacles, which the company has to solve and overcome Due to the limitation of capability and time, we could not study some difficulties that Lotteria has had to face, as well as the solution for it Therefore, we highly recommend an in-depth interview method for future work in a similar topic The aim is to approach the issues from Lotteria’s insights so that the problems can be totally considered 26 VI REFERENCES Admin (2014) Lotteria bành trướng thị trường thức ăn nhanh Việt sao? 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How 10 experts define it From: http://www.skylinetradeshowtips.com/what-is-marketing-how-10-experts-define-it/ 10 Rafiq, M and Ahmed, P K (1995) Using the 7Ps as a generic marketing mix: an exploratory survey of UK and European marketing academics Marketing Intelligence & Planning 11 The History of Fast Food From: www.historyoffastfood.com 12 Unknown (2017) Lotteria’s Marketing Intelligence From: https://studymoose.com/lotterias-marketing-intelligence-essay 13 Vinaresearch From: https://vinaresearch.net 27 ... industry and a process of building lasting relationships.” — Jay Conrad Levinson Marketing strategy and marketing mix A marketing strategy is a plan for reaching people and turning them into customers... direction of a company or product line, the marketing mix is considered in nature and how to carry out the overall marketing strategy An effective marketing strategy have the 4Ps of the marketing mix. .. newspaper articles, as well as the website of Lotteria The combinations of practical information and theoretical contents demonstrated that thanks to putting the marketing mix 4Ps into use appropriately,