Formulating branding development strategy strategy for developing a new brand sunfly trendy for fashion company minh huong p n d

Program:Master of Marketing and Prospective Cohort 2016 – 2018 PROJECT:FORMULATING BRANDING DEVELOPMENT STRATEGY Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D Student: Nguyen Thi Tu Anh Advisor: Dr Do Thi Binh Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D Program:Master of Marketing and Prospective Cohort 2016 – 2018 TABLE OF INDEX APPENDIX OF TABLE TABLE OF FIGURE SUMMARY ACKNOWLEDGEMENT PROJECT ‘S TARGET AUDIENCES: CHAPTER 1: PROJECT INTRODUTION: 1.1 OVERVIEW ABOUT VIETNAM HOME-WEAR MARKET 1.2 INTRODUTION OF MINH HUONG P.N.D AND SUNFLY BRAND 10 1.3 PROBLEMS STATEMENT: 12 1.4 OBJECTIVES OF PROJECT: 13 CHAPTER 2: RESEARCH METHODOLOGY 14 2.1 DATA GATHERING METHODS 14 2.2 DATA ANALYSIS METHODS 15 2.2.1 PEST MODEL ANALYSIS: 15 2.2.2.EFE MATRIX: 16 2.2.3 STRATEGIC GROUP ANALYSIS 17 2.2.4 VALUE CHAIN ANALYSIS: 17 2.2.5 IFE MATRIX 18 2.2.6 BOSTON MATRIX 19 2.2.7 STRATEGIC ANALYSIS MATCHING STAGE 21 2.3 PROCESS OF MAKING STRATEGY 23 CHAPTER 3: PROJECT ANALYSIS RESULTS AND SUGGESTIONS 24 3.1 EXTERNAL ENVIRONMENT ANALYSIS 24 3.1.1 PEST Analysis: 24 3.1.2 EFE MATRIX 27 3.1.3 CONCLUSIONS: 31 3.2 SUNFLY POSITIONING ANALYSIS 32 3.2.1 STRATEGIC ANALYSIS: 32 3.2.2 Conclusions: 35 3.3 INTERNAL ENVIRONMENT ANALYSIS 36 3.3.1 BOSTON MATRIX: 36 3.3.2 VALUE CHAIN ANALYSIS: 42 Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D Program:Master of Marketing and Prospective Cohort 2016 – 2018 3.3.3 IFE MATRIX 43 3.3.4 Conclusions: 47 3.4 CHOOSING STRATEGY AND MAKING IMPLEMENTATION PLAN 47 3.4.1 STRATEGIC MATCHING ANALYSIS: 48 3.4.2 IMPEMENTATION PLAN: 49 3.4.2.1 TARGETED CUSTOMER: 49 3.4.2.2 MARKETING MIX: 50 REFERENCE 59 ANNEX: 60 ONLINE QUESTIONAIRE ABOUT CUSTOMER‟S OPINION OF SUNFLY PRODUCT: 60 QUESTIONARE ABOUT INTERNAL AND EXTERNAL‟S FACTORS IMPORTANCE TO MINH HUONG P.N.D AND SUNFLY BRAND 60 APPENDIX OF TABLE Table 1:PEST analysis for Minh Huong P.N.D 25 Table 2: EFE Matrix of Minh Huong P.N.D 27 Table 3: Mainly home-wear fashion brands in Viẹtnam 32 Table 4: Characteristic of Vietnam domestic home-wear brands 33 Table 5: Minh Huong’s brands list 36 Table 6: 2017 Minh Huong’s performance 37 Table 7: 2014 – 2017 Minh Huong brands’ growth 39 Table 8: Minh Huong Value chain analysis 42 Table 9: Table 9: Minh Huong IFE Matrix 43 Table 10:Average Price by product catergory in 2017 51 TABLE OF FIGURE Figure 1: Revenue of Apparels in Vietnam fashion market up to 2022 Figure 2: Revenue growth of Vietnam fashion market up to 2022 _ Figure 3: Vietnamese customer’s opinion about domestic fashion brands Figure Steps to conduct PEST analysis 15 Figure Steps to conduct the strategic group analysis 17 Figure value chain model 18 Figure Boston Matrix _ 20 Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D Program:Master of Marketing and Prospective Cohort 2016 – 2018 Figure Strategic Matching Matrix Figure 9: Vietnam consumer confidence index in Q1/2018 _ Figure 10 Spending habit of vietnamese consumers Figure 11 Strategic group map by market share _ Figure 12 Minh Huong product category in 2017 _ Figure 13 Minh Huong revenue by product in 2017 Figure 14 Boston matrix of product category of Minh Huong _ Figure 15 Relationship between Product Life Cycle and Boston Matrix Figure 16 Sunfly Trendy Strategic matching matrix 22 26 27 35 38 38 40 41 48 Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D Program:Master of Marketing and Prospective Cohort 2016 – 2018 SUMMARY According to the performance result in 2017, Sunfly's customer ages are getting older and older: the most of them are from 45 – 54 years old This is a bad signal for the company because this customer demand has shaped, difficult to stimulate change leads to low demand for goods On the other hand, through a quick survey of customers shopping at Sunfly showrooms on Sunfly's image, the results show that customers see Sunfly as a low-cost brand This is contrary to the vision of the company on the development direction is to become a highend brand with dynamic designs, catch up the most trend Therefore, the biggest problem of Minh Huong P.N.D is the need to have a new brand – Sunfly Trendy - with the purpose of rejuvenating the image, and exploring the source of younger customers This project has studied the internal and external environment of Minh Huong Company as a premise for the new Sunfly Trendy brand As a result of the research, Minh Huong's external response rate and Sunfly Trendy's brand score is 2.6: in average position, and could use the opportunity to overcome the challenges Minh Huong's Competitive Advantage and Health Indicator score is 3.11: the company has good organization and resources that are capable of further developing its Sunfly Trendy brand Through the study of clothing market in Vietnam has also positioned Minh Huong's position on the market is in the top and have direct competitors is the Jubbies brand Afterconsidering the internal and external factors, the strategy chosen for developing the Sunfly Trendy brand is Building and Growth Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D Program:Master of Marketing and Prospective Cohort 2016 – 2018 ACKNOWLEDGEMENT For the project to be completed, I sincerely thank the support of resources and market information, internal information from Marketing and Sales Department of Minh Huong P.N.D At the same time, I would also like to thank the guidance, comments and modifications made by Dr Do Thi Binh for further enhancing the academic credibility of the project objectives I would also like to thank the University of Nantes, France and the International School, Vietnam National University for giving me the opportunity to apply and present the knowledge I have learned in the course into this project PROJECT ‘S TARGET AUDIENCES: This project would be implemented in marketing plan of Minh Huong P.N.D company in months from May 2018 to July 2018 All analysis results about Minh Huong P.N.D would be considered by Board of Directors to choosing a right way development for Sunfly in general and for Sunfly Trendy in detail All analysis and recommendations of this project also would be used to references for other thesis in the same industry or the same branding development making process Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D Program:Master of Marketing and Prospective Cohort 2016 – 2018 CHAPTER 1: PROJECT INTRODUTION: 1.1 OVERVIEW ABOUT VIETNAM HOME-WEAR MARKET The market's largest segment is the segment "Apparel" with a market volume of US$313m in 2018.”1 As shown in the table below, the profit of Apparel in Vietnam fashion market has increased steadily over the years However, in terms of profit growth, the situation is quite contradictory Figure 1: Revenue of Apparels in Vietnam fashion market up to 2022 Source: https://www.statista.com/outlook/244/127/fashion/vietnam#market-global Source: https://www.statista.com/outlook/244/127/fashion/vietnam#market-global Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D Program:Master of Marketing and Prospective Cohort 2016 – 2018 Figure 2: Revenue growth of Vietnam fashion market up to 2022 Source: https://www.statista.com/outlook/244/127/fashion/vietnam#market-global “According to a recent study conducted by Mely Communication, in more than 100 random women: 55% of 25-60 years old are interested in a well-dressed, home-based products; 28% are preferred fashionable clothes but also can be worn at home (such as shorts and t-shirts); 10% are interested in traditional home-wear clothes According to regional analysis, 35% of rural women prefer to wear clothes at home separately from to go out; while in the city only 12% prefer home and streetwear (the reason are streetwear clothes dusty, and not suitable for indoor using), the rest are usually used for both at home or go out Despite this difference, more than 80% of respondents are concerned about home wear because they prefer to look beautiful in the eyes of their relatives and friends Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D Program:Master of Marketing and Prospective Cohort 2016 – 2018 That shows, consumers are very interested in fashion home wear With over 40 million women consumers, the tendency to wear nice in the home is gradually forming and creating a potential market for textile companies Vietnamese women are more and more active; then the designs are young, creative, suitable for the natural conditions, but no less feminine, comfortable to wear will be the preferred choice”2 Vietnamese customers are also high appreciate about domestic brands: Figure 3: Vietnamese customer‟s opinion about domestic fashion brands3 source:https://qandme.net/en/report/popular-vietnam-domestic-fashion-brand.html Home wear fashion in Vietnam divided into 02 segments: domestic products and imported products source:https://doanhnhansaigon.vn/chuyen-lam-an/thoi-trang-mac-nha-phan-khuc-moi-tiem-nang-1047920.html source:https://qandme.net/en/report/popular-vietnam-domestic-fashion-brand.html Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D Program:Master of Marketing and Prospective Cohort 2016 – 2018 Proportion of domestic production: 90% are domestic brands The rest is imported In the domestic segment, brands with reputable brands account for only 10% Tastes of consumers: Divide into main sections: → Ordinary customers: buy home-made products without brand name, most interested in price instead of quality, style → Intermediate customer: buy brand name clothing, still sensitive to price but not much attention to style → Luxury customers: buy branded clothing and have gout / personality combinations; Interested in material more than price.5 1.2 INTRODUTION OF MINH HUONG P.N.D AND SUNFLY BRAND Sunfly fashion brand is born from the desire to rise, the will and trust of the founding members and associates of Minh Huong PND Co., Ltd In the desire to build a fashion brand specifically for Vietnamese women, Sunfly has a diverse and young design, professional service and reasonable price With strong belief, Sunfly always want to affirm the prestige and aspirations of raising the Vietnamese brand, proud to be 100% product which is developed by the hands and mind of the Vietnamese people Founded in 2005, over 10 years of establishment and development; up to now, Sunfly is proud to be the top brand in the field of high fashion home-wear in Vietnam with distribution system over80 showrooms and official agents throughout the North and Middle area of country According to the Sunfly Sale Department market survey from 2017 - 04/2018 According to the Sunfly Marketing Dept customer survey in 2016 Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D 10 Program:Master of Marketing and Prospective Cohort 2016 – 2018 According to information from the market, Vietnam's economy in general and consumer purchasing power will increase in the coming period On the other hand, according to Nielsen, a leading market research firm, the first three months will determine 70 to 80 percent of a brand's success This is quite similar to the characteristics of the fashion industry is changing season With the IFE matrix analysis of 3.11, it is an ideal result of the company's internal capacity to develop Sunfly Trendy's financial budget and order fulfillment time Hence, in response to the chosen strategy of Building and Development, specific directions are: Development premise: from the foundation of Sunfly Casual and Sunfly Modern Major Competitors: Jubbies Development areas: cities and central areas of the northern and central provinces Time to launching: need to develop and bring the product launch for a maximum of 04/2018 to catch up the spring summer season Commodity output: due to be developed on the basis, Sunfly Casual and Sunfly Sport is the main brand will order times of material for the two brands to prepare for Sunfly Trendy Marketing budget: With good internal strength, Sunfly Trendy brand will be invested 1.5 times total budget for Sunfly Casual and Sunfly Modern Distribution channels: Online and retail at the store Development of private showroom to attract young customers Parallel to displaying with other brands at showroom locations is available to take advantage of the Sunfly Modern and Sunfly Casual customers Stage - in the first year: Introduce samples in the Sunfly SR in the central area and high turnover: HN, Hai Phong, Thanh Hoa and Online channel 3.4.2 IMPEMENTATION PLAN: 3.4.2.1.TARGETED CUSTOMER: Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D 49 Program:Master of Marketing and Prospective Cohort 2016 – 2018 As a direct competitor of Sunfly Trendy, Jubbies has a target audience of 20-35 years old, so this is also the target audience for Sunfly Trendy This customer group will have the following characteristics:  Age: 20 to 35 years old  Gender: Female  Geography: Central cities (Hanoi, Quang Ninh, Hai Phong, etc.)  Characteristics:  Some intellectuals (office workers, business people, professional professions such as teachers, designers, lawyers )  Have an average income of 8,000,000 VND / month or more  Interested in gout dress and desire to make a difference in the image for themselves 3.4.2.2 MARKETING MIX: I.Product (P1) According to the above analysis, firstly is compete directly with Jubbies, and secondly is inheriting the characteristics of the Sunfly Modern, Sunfly Sport, Sunfly Casual brands, the design of Sunfly Trendy will have the main characteristics after:  Develop a young, cute style: light color, simple design; Little but prominent highlight for the whole set  Developed with a medium spongy cotton material but will have elastic, wrinklefree (better than 100% cotton or wrinkle, not stretchable)  Develop more casual models instead of just home-wear models II Price (P2) With the analysis of the Value Chain and the internal resources, Sunfly Trendy has the potential to compete in terms of price because business and marketing are costly Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D 50 Program:Master of Marketing and Prospective Cohort 2016 – 2018 On the other hand, the current consumer trend is quite price sensitive as the CPI increases slightly, so using the price as an attractive factor is a reasonable strategy for Sunfly Trendy Table 10:Average Price by product catergory in 2017 Brand Average Price (set) VND Prime 315,000 Modern 229,000 Eco 123,000 Sport 327,000 Kids 116,000 Lingeries 92,000 Casual 237,000 Thus, the selling price of Sunfly Trendy will be from 219,000 - 315,000 VND / set III Place (P3) Stage - in the first year: Introduce Sunfly Trendy in the central and high turnover area: open at least 03 SR at key trade centers such as Vincom Pham Van Dong, Vincom Nguyen Chi Thanh, Vincom Pham Ngoc Thachto increase brand coverage and target the young customer group Stage - Year 2: Introduction to the remaining areas Concept of showroom: using Sensory Marketing to develop ideas: Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D 51 Program:Master of Marketing and Prospective Cohort 2016 – 2018 The idea of displaying the Sunfly Trendy store needs to stick to the orientation and location of the brand is for women in the age of 20-35, pursuing sweet but modern style, personality and sincerity In addition, the concept of shop design is based on the principle: simple, easy to implement, flexible in the change to be re-used many times in accordance with many décor ideas for each program separately  The main color of the shop will be the color of the line: pink and white, gray will be the stepping stone  Display style: simple and modern, creating space, orderly  Specifically in building the Sunfly Trendy store concept as follows: Vision:This is the first sensation a customer uses when exposed to any product or brand and is also the deepest impression left by the customer  Store sign: inprinciple is the most simplestthe more to be easy to remember, the Sunfly Trendy sign will be designed with the same line of the line to emphasize and help customers remember more deeply:  Outside the store use the main white color for the wall with pink trim door to identify and repeat the brand: Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D 52 Program:Master of Marketing and Prospective Cohort 2016 – 2018  Window show: In line with the principle of simplicity but flexible application, each store has a large window just to catch the attention of customer Sunfly Trendy's criteria are for the young, so the store will use a matching (current trending) mannequin in a laid-back space, such as sitting on a sofa reading a book or stand next to the bedroom window (equipped with curtain for windows + shelf cabinets are available) The mannequin décor reduces the space occupancy and, at the same time, creates a sense of closeness Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D 53 Program:Master of Marketing and Prospective Cohort 2016 – 2018  The space in the shop will be divided into parts: Shelf area showing two sides of the wall Shelving system in the center Cashier counter area Window show area  The color of the shop's walls: in alternating white tones: Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D 54 Program:Master of Marketing and Prospective Cohort 2016 – 2018 Tactile: This is the most touching sense of the customer, is a complementary effect for improving the feelings of customers Typically, a customer's touch when entering a certain space typically includes room temperature and surface sensation when exposed  Store temperature should be maintained at 28 degrees in winter and 23 degrees in summer, in combination with fan mode This is the ideal temperature to keep customers comfortable and comfortable Of particular note is that the stores will not open, but must be closed regularly: is to maintain the temperature of the store, is to create a more private space to help female customers feel secure In the same time, more specific / advanced when shopping for furniture  As a clothing store, contact surfaces should create a warm and clean feeling: Store shelves should use electrostatic powder coating or mica gray to create a clean feeling Hanging hooks should use white wooden hangers - pink to give a warm feeling when touched The chair should be soft, rectangular, rectangular or rectangular, light gray, leather for comfort but still clean hygiene Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D 55 Program:Master of Marketing and Prospective Cohort 2016 – 2018 Hearing: This is a factor that helps the customer to improve their emotions, effectively stimulating their emotions For Sunfly Trendy, a store for young female customers, should play light, feminine or trendy tracks Especially preferred songs praise the femininity, the comfort of girls (Recommendation: The song can be taken as a great daughter - My Run to make the main song for the store) Reference Link: https://www.youtube.com/watch?v=8_WZVwXjb0I) But avoid the dance tracks too exciting Volume in the store just right, does not affect the communication with customers Smell: this is a pretty important factor but is often ignored by fashion stores The use of scents has long been known to help create, maintain, even 'fix' human emotions Using the appropriate scent will help enhance the positive emotions, make an impression remember long, remember deep with the customer Sunfly Trendy stores with the criteria for young customers should use the smell of natural essential oils soothing, refreshing, feminine but not too intense and cause less allergic like lavender, lotus smell, jasmine, etc Use a light bulb to achieve this effect IV Promotion (P4) The target audience is young women between the ages of 20 and 35, who work in the office And by the trend now, 60% of consumers in this age buy fashion products online In the other hand, in the Apparel segment, 17% of total market revenue will be generated through online sales by 2022.32 Hence the main form of promotion for the Sunfly Trendy line will focus on the Online form 32 https://www.statista.com/outlook/244/127/fashion/vietnam#market-onlineRevenueShare Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D 56 Program:Master of Marketing and Prospective Cohort 2016 – 2018  Online: 80% of the budget  Offline: 20% of the budget Stage - product awareness: months before delivery  Media channel: Sunfly Fanpage, websites for women like Eva, Afamily, Guu, Webtretho; Sites like 24h, ngoisao, vnexpress, etc  Form of communication: PR article, flat-lay outline sample Leaflets Stage - interest in the product: month before delivery  Media channel: Fanpage Sunfly, websites for women like Eva, Afamily, Guu, Webtretho, YouTube video channel, SEO keyword "fashionable new home style", "Sunfly Trendy", etc Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D 57 Program:Master of Marketing and Prospective Cohort 2016 – 2018  Local priority areas + Office buildings, high-class apartment buildings, shopping centers in Hanoi and other localities  Form of communication: Video demo rollout, customer survey / mini game/ gift voucher purchase Banners, catalog Stage - desire to buy products - soft running: weeks after delivery  Media channel: Fanpage Sunfly, websites for women like Eva, Afamily, Guu, Webtretho, YouTube video channel, et cetera  Local priority areas + Office buildings, high-class apartment buildings, shopping centers in Hanoi and other localities  Form of communication: PR article introduced; BST Product introduction video Banner, catalog, brochures, SMS Decoration Windowshow KOLs Stage - buy: when products covered in the showroom:  Media channel: Fanpage Sunfly, websites for women like Eva, Afamily, Guu, Webtretho, YouTube video channel, SEO keyword "fashionable new home style", "Sunfly Trendy" etc  Local priority areas + Office buildings, high-class apartment buildings, shopping centers in Hanoi and other localities  Form of communication: Event introduction: at least 02 events in Hanoi and Quang Ninh Gift wrapping program Show Windowshow Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D 58 Program:Master of Marketing and Prospective Cohort 2016 – 2018 REFERENCE http://sunfly.com.vn/gioi-thieu.html http://sunfly.com.vn/gioi-thieu/tam-nhin-su-menh-2.html https://www.statista.com/outlook/244/127/fashion/vietnam#market-global https://doanhnhansaigon.vn/chuyen-lam-an/thoi-trang-mac-nha-phan-khuc-moitiem-nang-1047920.html https://qandme.net/en/report/popular-vietnam-domestic-fashionbrand.htmlhttp://www.business-portfolio-analysis.com/bcg-matrix-theory/the-bcgmatrix-and-the-product-life-cycle-plc/ https://blog.oxfordcollegeofmarketing.com/2016/06/30/pestel-analysis/ https://mba-tutorials.com/strategy/76-the-efe-matrix-external-factor-evaluationmatrix.html https://www.strategicmanagementinsight.com/tools/ife-efe-matrix.html https://mba-tutorials.com/strategy/76-the-efe-matrix-external-factor-evaluationmatrix.html 10 http://st.merig.eu/index.php?id=90 11 http://www.nielsen.com/content/dam/nielsenglobal/vn/docs/PR_EN/2018/articlevietnam-cci-q1-2018.pdf 12 https://www.worldbank.org/vi/news/press-release/2018/06/14/vietnams-economicprospect-improves-further-with-gdp-projected-to-expand-by-68-percent-in-2018 13 https://research.vietnambusiness.tv/Cimigo%20Consumer%20Trends%20Vietnam%2020 18.pdf 14 http://enternews.vn/them-chinh-sach-cho-nganh-det-may-131636.html Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D 59 Program:Master of Marketing and Prospective Cohort 2016 – 2018 ANNEX: ONLINE QUESTIONAIRE ABOUT CUSTOMER’S OPINION OF SUNFLY PRODUCT: Q1: Have you ever buy Sunfly products? - Always - Sometime - Never Q2: What you think about Sunfly’s products? - Comfortable - Cheap price - Long – lasting material - Nice design Q3: What kind of factor you like about Sunfly the most? - Good service - Nice design - Competitive price - Easily to access to local store Q4: What are the factors you think Sunfly need to improve? - Design younger and casual style - Customer service quality - Decoration in store - Manners of employees QUESTIONARE ABOUT INTERNAL AND EXTERNAL’S FACTORS IMPORTANCE TO MINH HUONG P.N.D AND SUNFLY BRAND I EXTERNAL FACTORS: Please rate and weight how is affected to Minh Huong by your opinion about these factors as table below: – definitely not affected Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D 60 Program:Master of Marketing and Prospective Cohort 2016 – 2018 – not affected – affected – definitely affected Key external factors Rating Oppotunities 1.The government insists on no change in economic and financial policies in 2018 Real GDP rose by 7.4% in the first quarter of 2018 comparing with 5,1% at the same period last year Total retail sales of consumer goods and services in the first quarter were estimated at 1.048 trillion VND, up 9.9%, include apparel increased by 12.4% comparing at the same period last year Exchange rates remained relatively stable Nearly half of consumers were willing to spend their spare cash to buy new clothes 51% Vietnam consumer confidence index reached the highest score in the quater 1/2018 Population under 30s now at 46% The Internet play a key role in the consumer journey for many product catergories Threaths The government has also signed up to free trade agreements, the latest being the CPTPP and the EVFTA, with a number of conditions on facilities and conditions of commodity origin It takes time for businesses to perfect and deploy 10 In the context of low inflation, monetary policy continued to support growth, Vietnam's consumer price index (CPI) rose slightly at 2.8% (over the same period last year) in April 2018 11 Birth rate falls below 60% (females 15-49) in 2018 and dropping fast 12 Life stages are maturing Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D 61 Program:Master of Marketing and Prospective Cohort 2016 – 2018 13 Cutting, sewing is still the most developed part of the industry; production of materials, designs and distribution systems are less developed, while this is the stage to bring the highest added value II INTERNAL FACTORS: Please rate and weight what is strengths or weakness of Minh Huong compare to Jubbies by your opinion about these factors as table below: – very weak – weak – strong – very strong Key Internal Factors Rating Strengths Raw materials supply is in Ninh Hiep area: very close to the company Warehouses are managed according to ISO 9000 - 2001 standards System of nearly 20 showrooms and 60 retailers in the North and South Online sales service nationwide Strong brand: standing at the 2nd group in the market Regular promotions Big number of customers: over 100,000 people Having main supplier of raw materials Having product quality inspection rooms before ex-warehousing 10 IT system connect to Supply Chain 11 E - commerce Weakness Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D 62 Program:Master of Marketing and Prospective Cohort 2016 – 2018 12 Outsourcing of finished products and packaging 13 Outbound services of Viettel Post for online orders 14 There are no long term strategies and marketing plans 15 Bad bargaining power with suppliers 16 Stages like management, import and export of goods are still handmade 17 Time to devote to the company of employee: average less than months Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P.N.D 63 ... Huong P. N. D to determine the direction of development for Sunfly Trendy -Choosing a strategy and developing an implication strategy for Sunfly Trendy Strategy for developing a new brand – Sunfly. .. nationwide Strong brand: standing at the 2nd group in the market Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P. N. D 43 Program:Master of Marketing and Prospective... industry or the same branding development making process Strategy for developing a new brand – Sunfly Trendy - for fashion company Minh Huong P. N. D Program:Master of Marketing and Prospective Cohort