Professional Documents
Culture Documents
mqwertyuiopasdfghjklzxcv
bnmqwertyuiopasdfghjklzx
cvbnmqwertyuiopasdfghjkl
Assignment 2
zxcvbnmqwertyuiopasdfghj
Research Project
klzxcvbnmqwertyuiopasdfg
hjklzxcvbnmqwertyuiopasd
fghjklzxcvbnmqwertyuiopa
sdfghjklzxcvbnmqwertyuio
pasdfghjklzxcvbnmqwertyu
iopasdfghjklzxcvbnmqwert
yuiopasdfghjklzxcvbnmqwe
rtyuiopasdfghjklzxcvbnmq
wertyuiopasdfghjklzxcvbn
mqwertyuiopasdfghjklzxcv
bnmqwertyuiopasdfghjklzx
H Hng Minh
Contents
Literature Review.............................................................................................1
Concept........................................................................................................1
Model............................................................................................................1
Price...........................................................................................................1
Place..........................................................................................................1
Promotion..................................................................................................2
Product:.....................................................................................................2
Methodology....................................................................................................2
Research Question........................................................................................2
Survey Question:..........................................................................................3
Descriptive Survey........................................................................................4
Survey form..................................................................................................4
Summary respond......................................................................................12
Solution..........................................................................................................12
Product:......................................................................................................12
Price:...........................................................................................................13
Place:..........................................................................................................13
Promotion:..................................................................................................13
Bibliography...................................................................................................13
Literature Review
Concept
In general, marketing is what you say and how you say it when you want to
explain how awesome your product is and why people should buy it. For
business people, it simply is selling at a larger scale. In the reality, is that
marketing sits at the intersection of the business and the customer the
great arbiter of the self-interests of the business and the needs of the buyer.
As the global economy settles into a new normal of consistent doubt,
Marketing has an identity problem, a brand perception gap, maybe even a
crisis of confidence. (Forbes, 2012)
Market expansion is the process of offering a product or service to a wider
section of an existing market or into a new demographic, psychographic and
geographic market. Marketing is communicating the value of a product,
service or brand to customers, for the purpose of promoting or selling that
product, service, or brand. "Marketing mix" is a general phrase used to
describe the different kinds of choices organizations have to make in the
whole process of bringing a product or service to market. The 4Ps are:
product (or Service), place, price, promotion. (Forbes, 2012)
Model
To increased sale, the company evaluated according 4P model:
Price: Of all the aspects of the marketing mix, price is the one, which
creates sales revenue - all the others are costs. The price of an item is clearly
an important determinant of the value of sales made. In theory, price is
really determined by the discovery of what customers perceive is the value
of the item on sale. Researching consumers' opinions about pricing is
important as it indicates how they value what they are looking for as well as
what they want to pay. An organisation's pricing policy will vary according to
time and circumstances. Crudely speaking, the value of water in the Lake
District will be considerably different from the value of water in the desert
(Forbes, 2012)
Place: 'Place' is concerned with various methods of transporting and storing
goods, and then making them available for the customer. Getting the right
product to the right place at the right time involves the distribution system.
The choice of distribution method will depend on a variety of circumstances.
It will be more convenient for some manufacturers to sell to wholesalers who
then sell to retailers, while others will prefer to sell directly to retailers or
customers. (Business case study, 2013)
Promotion: Promotion is the business of communicating with customers. It
will provide information that will assist them in making a decision to
purchase a product or service. The cost associated with promotion or
advertising goods and services often represents a sizeable proportion of the
overall cost of producing an item. However, successful promotion increases
sales so that advertising and other costs are spread over a larger output.
Though increased promotional activity is often a sign of a response to a
problem such as competitive activity, it enables an organization to develop
and build up a succession of messages and can be extremely cost-effective
(Business case study, 2013)
Product: are the goods and services that your business provides for sale to
your target market. When developing a product you should consider quality,
design, features, money dollars covering costs expenses packaging,
customer service and any subsequent after-sales service. (Business case
study, 2013)
Methodology
Research Question
There are 3 questions:
How to use Marketing Mix for market expansion?
What are problems that Banh Mee faces?
Survey Question:
1, Where are you from? (only one
answer)
2, How old are you? (only one
answer)
1.
2.
1.
2.
3.
4.
5.
1.
2.
3.
4.
5.
1.
2.
3.
4.
1.
2.
Vietnam (Hanoi)
Foreign country
6-12
13-19
19-35
36-50
Over 50
Student
Employees
Business
Visitor
Other
Never
Used
Using
Will be use
Poster
Facebook
3.
4.
1.
2.
3.
4.
5.
1.
2.
3.
4.
5.
1.
2.
3.
4.
1.
2.
3.
4.
5.
1.
2.
3.
4.
5.
1.
2.
3.
4.
Descriptive Survey
A survey was conducted to obtain opinion Banh-mee consumers. The
questionnaire in the survey was design with the marketing mix literature
regarding 4P. The questionnaires include 11 question totals, this survey is
intended for consumers are living and working in Hanoi. Survey was sent to
1000 people (to get more than 700 responds) by email, message on
Facebook and face to face. The responses were collected 7 days, from March
17, 2015 to March 23, 2015.
After survey, I have collected 700 respond.
Survey form
Question 1: Where are you from?
42%
Vietnamese
58%
Foreign Country
In this survey, survivors come from many countries to create fairness. There
are 58% Vietnamese survivors and 42% visitors travel to Hanoi.
Question 2: How old are you?
7%
4% 6%
Age
Under 12
35%
13-19
20-35
48%
36-50
Over 50
Based on pie chart in question 2, we can see major customers who are in the
age of 13-19 and 20-35 come to Banh-mee.
2%
18%
Student
Employees
17%
43%
Business
Visitor
Other
20%
We can see the main customers of Banh-mee are Student (43%) and
Employees (20%). Visitor is very important to decide the development of
Banh-mee because they can tell their friend and their family after they come
back to their country. So Banh-mee is the first choice of visitor when they
come to Hanoi
Stringing question 2 and question 3 we can conclude that main customers
are Student in the age 12-19. Potential customers are employer and visitor in
the age 20-35. Customers of Banh-mee are young teen and foreign guests
always want to learn about culinary Vietnam.
Question 4: You have used the product of Banh-mee yet
18%
12%
Never
Used
26%
Using
Will be use
44%
10% 2%
Poster
8%
34%
Facebook
App about food
Referrals from friends,
relatives
46%
Travelling book
6% 1% 8%
Too Cheap
Cheap
34%
Reasonable
Expensive
51%
Too Expensive
Collected Data
Rate
Survivors
700
Too
Cheap
cheap
7/700
56/700
Reasona
Expens
Too
ble
ive
Expens
238/70
ive
42/700
357/700
0
51% survivors answer the price of Banh-mee is reasonable. However, up to
34% of people think that the price of Banh-mee is expensive. Compared with
the bakery sidewalk, price of Banh-mee is more expensive. But price
depending on many factors (service, location, quality and sanitary).
Customers who answer that the price is cheap (8%) maybe they are foreign
customers come from developed country because monetary difference
between Vietnam and their country is huge.
Question 7: What do you think about the product of Banh-mee?
7%
10%
18%
Very impressive
Impressive
Normal
23%
Not impressed
Very not impressed
42%
Collected Data
Rate
Survivors
700
Very
Impress Normal
Not
Very
impress ive
impres
not
ive
sed
impres
70/700
sed
49/700
126/70
161/70
SUMMARY OUTPUT
Regression Statistics
0.648
Multiple R
459
0.420
R Square
499
Adjusted R
0.130
Square
749
Standard
1.203
Error
641
Observatio
ns
4
294/700
Almost customers feel impressed with the product of Banh-mee. But one
thing worth mentioning here is 17% of customers feel not impressed about
product of Banh-mee. In anticipation of this, I gave an extra question
(question 8) of why customers still not impressed.
Question 8
5%
23%
Quality of crust
32%
Quality of foods
Lack of choice
Other
40%
There are 3 main problem that make customer do not feel impressed with
product of Banh-mee. First of all is Quality of foods. Secondly, quality of
crust is unsatisfactory. Thirdly, lack of choice.
7%
10%
18%
Very impressive
Impressive
Normal
23%
Not impressed
Very not impressed
42%
Rate
Survivors
700
Very
Impress Normal
Not
Very
impress ive
impres
not
ive
sed
impres
70/700
sed
49/700
126/70
161/70
SUMMARY OUTPUT
Regression Statistics
0.648
Multiple R
459
0.420
R Square
499
Adjusted R
0.130
Square
749
Standard
1.203
Error
641
Observatio
ns
4
294/700
Almost customers feel impress about location and design of Banh-mee (42%
of survivors feel normal, 23% of survivors feel impressive and 18% of
survivors feel very impressive)
This question have R Square is 0,4 (0<0,4<1)
Question 10: What do you think about the promotion of Banh-mee?
18%
2% 5%
Very impressive
32%
Impressive
Normal
Not impressed
44%
SUMMARY OUTPUT
Regression Statistics
0.899
Multiple R
34
0.520
R Square
48
Adjusted R
0.271
Square
93
Standard
1.455
Error
981
Observatio
ns
4
Customers feel the promotion of Banh-mee is not good enough, there are a
lot of comments are not satisfied (47% of survivors feel not impressive and
19% of survivors feel very not impressive)
Rate
Very
Survivors
700
Not
Very
impress ive
impres
not
ive
sed
impres
329/70
sed
133/70
14/700
Impress Normal
35/700
238/700
Question 11
13%
2%
Voucher
Discount
23%
62%
Happy hours
Other
Summary respond
According to the study, the majority of customers of Banh-mee are younger
customers. They feel quite satisfied with the quality of products and
locations. But there are still some disadvantages in terms of price and
promotion makes Banh-mee not really make an impression with the
customer.
Based on the regression statistics, I have R square of question 10 is
highest (0, 52). So Banh-mee needs to focus on promotion. They need to
have more and more promotions to make the customer feel satisfy.
Solution
Product:
Due to the quality of the product is not satisfactory, I have a number of
solutions to help customers feel satisfied and impressed with the product.
Management needs to improve product quality by improving the quality of
the crust. In addition, employees must be heated food before baking. Hot
food will help customers feel more delicious. Currently, the menu of Banhmee is not abundant; I think the store need to create more new dishes. For
example, company should create more vegetarian food with bread.
Price:
The price of the store is quite high; however, this is not inevitable. Because,
the company must pay taxes and rent employees; they also buy clean food.
The only way is to improve the quality of service to deserve with the price.
Place:
Banh-mee has a good location that is 18 Au Trieu Street (city center), where
many tourists pass through. The design of the store is very nice and easy to
attract the attention of customers. Banh-mee has only one downside is
relatively little shop, they can only serve a maximum of 70 clients over a
period of time. In my opinion, they need to open more branches in the
neighborhood that have many foreigners as Ta Hien Street.
Promotion:
Currently, the promotion of Banh-mee pretty poor (R square of question 10
is highest). They almost do not have regular promotions. The advertising
information will not be updated regularly on the social networking site. There
are my solutions. Firstly, I think Banh-mee should focus more on the potential
customers on Facebook. According to my opinion, homepage of Banh-mee on
Facebook still quite monotonous and they do not update the information
regularly. I think they should have some activities or games to win prizes on
Facebook to attract the attention of customers. Along with that, they need to
constantly update information on the combo and preferences. Banh-mee
should discount on primetime (happy hours) or give customer voucher in
holidays. Second, in order to attract more customers, Ball-mee to make use
of social networking sites like Kenh14, Foody, Lozi. They should hide Kenh14
write an article to PR for Banh-mee.
Bibliography
Forbes. (2012, 4 13). Retrieved 4 8, 2015, from
http://www.forbes.com/sites/sap/2012/08/09/what-is-marketing/
Forbes. (2012, 6 12). Retrieved 4 8, 2015, from
http://www.forbes.com/sites/sap/2012/08/09/what-is-marketing/
Business case study. (2013, 3 4). Retrieved 4 8, 2015, from
http://businesscasestudies.co.uk/business-theory/marketing/marketingmix-price-place-promotion-product.html#axzz3WroDRfej