Successful Promotion of Consumer Goods in Vietnam

Diploma Thesis from the year 2008 in the subject Business economics - Marketing Corporate Communication CRM Market Research Social Media grade: 10 Heilbronn University of Applied Sciences 180 entries in the bibliography language: English abstract: Vietnam has gradually opened its market economy towards foreign investors and businesses in recent years climaxing in the accession to the World Trade Organization (WTO) at the beginning of 2007. With limited choice during years of centrally planned economy Vietnamese consumers these days face growing market liberalisation and personal wealth and hence must learn how to successfully navigate the new abundance of products and brands. Having one of the highest economic growth rates in Asia the country is evolving rapidly and in the centre of attraction of foreign producers and retailers all over the world. Confronted with the challenge of gaining foothold as well as increasing and defending market share foreign and indigenous consumer goods companies are beginning to realize the absolute essentiality of doing promotion successfully in this potential market. Meanwhile more and more promotion agencies develop to provide support in an increasingly competitive environment. Thus it is more important than ever to understand the Vietnamese way of thinking and lifestyle and gain deep insights of promotion within the context of Vietnam's culture. This thesis attempts to provide in-depth information about various aspects of promotion in Vietnam. Based on primary data gained in 30 face-to-face interviews with experts of consumer goods companies (Coca-Cola Southeast Asia Nestle Unilever Beiersdorf P&G etc.) and promotion agencies (Ogilvy & Mather BBDO Saatchi & Saatchi JWT etc.) as well as five focus groups with Vietnamese students and observation during a three-month field research in Vietnam it will describe Vietnamese consumers and culture and draw implications for designing a sound mess