Introduction
This study is about Procter and Gamble (P&G) based in Vietnam. It’s about the marketing plan that P&G through its Vietnamese marketing studies and at the same time, to discuss how influential those discoveries are for the company’s development strategy and how these strategies made the organization to enter the Vietnamese market. This research will be written in a manner of identifying the characteristic P&G’s marketing plan that they should exercise to improve the organization’s performance. Last part of this research will show how effective their strategies are, why they hit the market’s attention.
Procter and Gamble’s Marketing Plan Insights
Lauren Coleman-Lochner (2012), asserts that customer professionals say Vietnamese are more aspirational than customers with similar earnings in other emerging nations (Lochner, 2012). This shows that P&G sees that the Vietnamese lifestyle and culture fit the products that the company has been selling in some Asian countries. As Lochner (2012 added), P&G is gambling on the appetite for quality brands in Vietnam and it’s also generating lower-cost products that can be purchased by customers with moderate earnings who can do business on a later time (Lochner, 2012). These insights can be influential in the development of the company’s strategy because they already have the foundation of what the Vietnamese consumers may patronize I terms of introducing new premium products for a lower price.
Procter and Gamble’s Marketing Plan Characteristics
Based on the chapter 7 of the Customer-Driven Marketing Strategy (190), one of the P&G’s marketing plans is by giving out lots of their baby product to couples who are parent-to-be. It will be drawn as a raffle which will capture a share even for future users and consumers.
This can be characterized as User Status strategy (190). P&G should consider using the new form of media like their website or social media to boost up their marketing plan. In this case more and more people will be aware of their promotion and attracts more potential consumers.
Graul, Henricks, Olp, and Strohecker (2006) wrote another business and marketing plan that P&G has. They said that one of them if focusing on a large-scale operation along with product innovation and strong branding (Graul, Henricks, Olp, & Strohecker, 2006). The company should include stronger social responsibility while promoting their business on a wide-scale basis. In this case, people in the countries that their products are available will appreciate the effort that they additionally exerted to have a better public appeal as well.
Creating a Marketing Plan
- Product Overview – Product is tissue paper. This kind of product is needed and in fact available around the globe. With more use and essential features that most of the people from all walks of life use.
- Reason for Choosing the Product – It is one of the most common commodity that can easily promoted which does not cost much for potential consumers.
- Difficult Element of the Plan- It is the part which the product must be promoted globally in a way that all people would realize the benefits of the product.
- Additional Info Needed for Decision Making for the Future Implementation – One of the most important information would be the strategy on how to establish trades mark that would make it incomparable among other competitors.
Conclusion
No doubt that Procter and Gamble is one of the toughest in the industry. The marketing plan that the company has in Vietnam is a good example of being focused on what your consumer really needs in daily lives based on the people’s lifestyle and culture, and this is one of the good discoveries that P&G had. And through continuous effective plans, the company will stay to be more competitive and more sustained than their local and international competitors.
References
Customer-Driven Marketing Strategy. (n.d.). Retrieved from http://www.prenhall.com/behindthebook/0132390027/pdf/Kotler_CH07.pdf
Graul, L., Henricks, S., Olp, S., & Strohecker, C. (2006, February 19). Procter and Gamble, Unilever, and the Personal Products Industry. Retrieved from http://info.umuc.edu/mba/ep/Presentation/EP_Olp/data/GSA.pdf
Lochner, L. C. (2012, July 5). P&G Plays Kindergarten Catch-Up With Unilever in Vietnam - Bloomberg. Retrieved from http://www.bloomberg.com/news/2012-07-04/p-g-plays-kindergarten-catch-up-with-unilever-in-vietnam.html
