The Chicken Rice Shop (TCRS) is a chicken rice fast-food restaurant and a chain of HALAL family restaurants operated by TCRS Restaurants Sdn Bhd, a company incorporated in Malaysia, which was established in June 2000. With grandmother’s traditional secret Hainanese chicken rice recipe brought down from generations and maternal grandmother’s treasured recipe from Penang, the best of both grandmothers’ recipes were perfected and introduced into the menu.
With the successful growth of TCRS in their domestic markets, they plan to spread the culture of the Malaysian way of life into the Indonesia market 2007, followed by Australia, Singapore and other Asian countries.
Their slogan is Bukan Sekadar Nasi Ayam: (Not just Chicken Rice) in Malay and “Chicken Rice and More” in English. With the similarities in traditional culture and taste of food, Vietnam is an actual potential market. As a business in Vietnam market, it is important for TCRS to have a marketing mind-set. Thus, this report aims at recommending an overall marketing approach for this company in a sensitive market – Vietnam.
The various elements of marketing process needed to be considered by The Chicken Rice Shop (TCRS) to penetrate into Viet Nam Marketing concept is the philosophy that companies should analyse what their customers need and want and then make decisions to get more customers’ satisfaction than the competitors. There are three elements of marketing concept that should be incorporated into the marketing process: customer orientation, coordination of market-led activities and profit orientation. Customer orientation is an essential element of marketing concept that businesses have pay attention specially to gain long-term profits from the customers.
In order to gain profit, business must put satisfactory of customers at the height.
More specific, these are the needs and wants of customers. With the trend in now, a business should do more research and analysis market before beginning business that belong to the requirement of customers more than goods (in this case is food, drink, ) and then try to find market to consume for these goods. In case of TCRS, they have to focus on this element as well because Vietnam’s market doesn’t like other market. In Vietnam, chicken dishes are very popular (including family meals, fast food and restaurant) and with the tradition of Vietnamese people, they like to group up and dine together. Thus, a chain of fast food about chicken rice as TCRS is not easy to business.
A symbolic example is KFC, after the time they dominated Vietnam’s market, Vietnamese people now are not prefer KFC food because of bad effect to heath of their food. On one hand, actually they really want to eat TCRS’s foods. On the other hands, they worry about their health because these foods have too much oil. Beside, TCRS should care about the quality of material food such as rice, chicken, others vegetable…etc. So, if TCRS can’t find any solutions to fix this problem, the foods of TCRS can be no longer belong to favourite foods of buyer.
The buyer will find other foods of other companies that are not only more guaranteed about quality but also more popular with them. The second element is coordination of market led activities. This element means that companies or organizations coordinate many ways to promote their products. A company should have some kinds of market led activities to ensure that almost people in market that the company is working know about its products.
In Malaysia, TCRS have done very good this work. They create a good brand about fast food, which is delicious and also healthy (this is different with others fast food which just fast but not good). TCRS is located in usually busy crowded places like shopping centres, malls and some busy streets of the cities. TCRS and kiosks concept of business set-up is modern, creative and attractive. Moreover, they build up a good website to advertise about them, in which, they publish their foods, the locations and have online-customer feedback. When logging in this website, the customer easily to be attracted by colour, music and presenting. The final element is profit orientation. It can be called the destination of a company. In order to exist for a long time, companies and organizations must concentrate on long-term profit.
When expanding market in Vietnam, TCRS has to discover eating behaviours of Vietnamese such as where do Vietnamese want to eat, which kinds of food Vietnamese would like to eat, etc. From this, TCRS can build some restaurants or kiosks in central of crowded cities like Hanoi, Da Nang and Ho Chi Minh City especially in supermarket such as Metro supermarket, Big C supermarket. Not only produce foods for Vietnamese, TCRS can also develop some kinds of food that are suitable for foreign tourism because Vietnam is become a place that attract overseas people. For example, the Muslims tourism always complains about the taste of food not suitable with them (because of some rule of this region), while TCRS is consistent with them.
It seems to the good advantage of TCRS in Vietnam market. If it was real, the long-term profit of TCRS could be guaranteed and the brand of them also would be admitted. In conclusion, if TCRS can take maximum advantages of three elements of marketing concept, their goals and missions can be completed easily. Moreover, TCRS can understand needs and wants of Vietnamese customers more clearly.
Vietnam becomes a potential market for every foreign company to invest in since being a member of World Trade Organisation (WTO) in 2006. Furthermore, people have tendency like foreign brands more than domestic productions because the income of native has been increasing by the time Therefore, TCRS should have detail plans and strategies from beginning approach to Vietnam to operating and developing the business. There are three main characteristics of a market orientated organization for today’s modern businesses that are related to TCRS:
Firstly, product orientation is the process that businesses focus on price and quality of product. Producing good products and publish on market with a reasonable price will help the business increase the number of customer. In order to get this thing, product of TCRS need to satisfy two principles. First are those foods had to be suitable with Vietnamese flavour and guarantee about the quality. However, with many options such as Hainanese Curry Chicken, Spicy Mixed Vegetables, Hong Kong Beef Stew, customer can have many choices and also each food still has an individual brand for itself.
However, these foods need to be guaranteed about quality such as enough nutriment and no poison. In addition, TCRS should create more new food and refreshed menu regularly. Second is the price of products must to be suitable with Vietnamese people. Because raw material prices in Vietnam is quite cheap so TCRS completely can sell their products at lower prices in Malaysia and Singapore.
Secondly, sales orientation is the process that a business satisfies the requirements of customers and then deciding production. Before the sale, TCRS should identify the customer that helps them evaluate the company’s products which are related with the consumption or not. After beginning to consume goods, TCRS should continuously keep in touch with its customers who brought its products by promotion services for the next time. Keeping Vietnamese customers, making them come back and buy more from their shop is the key of success of TCRS. However, TCRS have to analysis carefully the number of products that Vietnam market can consume, avoid the situation of producing too much unnecessary goods.
The final process is marketing orientation which defines the mission of business: decide value, wish for market requirements. In order to access this market, TCRS has to collect and update information about the customers’ needs and wants. Put another way, in order to compete, TCRS also needs to be more sensitive to their customers’ needs otherwise they will lose sales to their rivals. Another important process for TCRS in is R&D (Research and Development). It illustrates that TCRS must make the actual survey that their food is suitable with customers in Vietnam and then maybe changes production to satisfy them.
The macro and micro environment factors which influence marketing decisions affecting Chicken Rice Shop Having a general view in term of macro and micro environmental factors is always important for every company. “The chicken rice shop” is not an exception. The macro factors are presented through the form of PEST which includes Political, Economic, Social-cultural and Technological, while the micro factors contain Strength, Weakness, Opportunity and Threat (SWOT).
Major external and uncontrollable factors that influence an organization’s decision making, and affect its performance and strategies. These factors include the economic, demographics, legal, political, and social conditions, technological changes, and natural forces. Generally, the macro environment factors are analysed under PEST formula (Politics, Economics, Society and Technology).
There are some polities that TCRS have to offer when open a branch in Vietnam. It includes:
Vietnam has the rate of tax quite high in Southeast Asia area. Like every foreign companies which import into Vietnam in order to operating business, TCRS must follow the Vietnamese corporate tax. So if they want to make profit, TCRS need calculating this sector carefully and also try to maximum the interest. Secondly, the employment laws are a part TCRS need to maintenance. According to employment laws in Vietnam, employers have right to require a wage that suitable with amount of working hour.
In specific, it means that employers can suggest a higher salary if they work overtime. Moreover, in insurance policies areas, they will be pay 15% amount of money that pays for employer’s insurance and many other kinds of insurance. Opening a new business in Vietnam market, in the last few years, met many problems because of the bias in administrative producers. However, this problem now has been improved by some new policies of Vietnamese government. According to these policies, some administrative procedures has been cut down and Vietnamese government encourage foreign companies invest on Vietnam market. Besides, TCRS can have many advantages when both Malaysia (mother country) and Vietnam is member of some organization such as ASEAN or WTO, which encourage the business activity between two countries.
Last but not least, protecting intellectual property in Vietnam now is too complicated. It is too strict in some step but too loose in others. Hence, TCRS should keep their brand which they still hold and also research more about other brand in same areas. In my opinion, with the bureaucracy in Vietnam, a foreign company can meet loads of difficult even punishment if they not obey to the Vietnamese protecting intellectual property. To sum up, TCRS can be easy to penetrate in Vietnamese market but they need to face with many problems if they want to survive in here.
There are several aspects about economic factor that we need to mention. The GDP growth index of Vietnam in last 3 years can reflex the real that this country develops quite fast and stable. It means the standard quality in Vietnam is higher than before and the needs and wants of Vietnamese people now are also changing. For example, they are not only eating to fulfil stomach, they also want delicious meals with a good-view restaurant. Therefore, with a unique fast food, TCRS have the opportunity to expand in Vietnam market. However, they need to face with high interest rate and high inflation which can affect to the price of goods and their cash flow.
In work, TCRS can have better products with higher quality, because of useful modern technology, which help TCRS save many time and money and also their staff can work easily. On the other hand, with the familiar of internet, especially access rates of Facebook or some website, TCRS can make use of this useful tool in order to fulfil marketing activities more effectively
The population size is very large with Vietnam over 80 million people and still growing strong. Besides, Vietnam’s population is young but aging society in the near future. So, this is the most important force that TCRS have to focus on in order to sell their goods and services. In addition, with the advantages of being a profuse human resource country, the recruitment will become easier for TCRS.
Vietnamese people prefer to have home cooked meals because they think that this meal is a good way to help family members get together. Within recent some years, fast food is becoming more popular with the people of Vietnam. With the new trend in social, it is not unusual if you prefer to go to fast food restaurants rather than cooking meals at home. However, TCRS need to care more about the taste of food because Vietnamese customers are always like to enjoy the gourmet which has family-flavour.
Different with Malaysia, Vietnamese people are not Muslim. They worshiped in Buddhism and some follow Christian. In fact, while the TCRS is a Muslim style restaurant so that there are a certain number of difficulties in the customer’s taste. Therefore, they should create or revise their dishes to be more suitable with customers in Vietnam.
Fast food restaurant competitors (KFC, Lotteria, BBQ, Pizza Hut, Domino Pizza) Normal restaurant competitors (Manh Hoach Chicken, Walking Chicken) Illegal suppliers (Almost from China)
The Chicken Rice Shop (TCRS) is a chicken rice fast-food restaurant and HALAL family restaurant chain in Malaysia. The chain is operated by TCRS Restaurants Sdn Bhd, a company incorporated in Malaysia, which was established in June 2000. The Chicken Rice Shop serves what it calls “grandmother’s traditional Hainanese secret recipe chicken rice” and local Malaysian dishes. With the successful growth of TCRS in their domestic markets, they plan to spread the culture of the Malaysian way of life into the Indonesia market 2007, followed by Australia, Singapore and other Asian countries such as Philippine, Taiwan.
Besides that, products of TCRS also are much diversified. TCRS had created and developed successfully 45 kinds of chicken and related items, 10 kinds of rice and noodles, 5 kinds of vegetables, lot of kinds of beverages and 8 combos for different kinds of customers. Hence, it can satisfy many customers of many different ages. Their slogan is Bukan Sekadar Nasi Ayam: (Not just Chicken Rice) in Malay and “Chicken Rice and More” in English which relate a friendly characteristic of the firm. The quality of TCRS’s products had been affirmed through a lot of awards in Malaysia. Especially, TCRS is famous about family-style which gives customers a similar feeling as dining at home. b.
Although TCRS had been successes in Malaysia, Indonesia, Australia and Singapore, it still is a new brand in Vietnam market. Vietnamese don’t know anything about TCRS while TCRS had become an international brand. Besides, with the Vietnamese, rice is always a main dish. They do not accustom to use rice as fast food. However, TCRS is still lack of necessary public relation. We can’t deny that when we think about words of “fast food brands”, every idea about fast foods is focused on famous brands like KFC, BBQ or McDonald. All information of TCRS only can find out through TCRS’s website, Facebook or some infamous website. In the opposite direction, TCRS also don’t have more activities to find out Vietnamese market. The price of a normal combo of TCRS is about 100.000 VND which may be quite expensive with some kind of customer.
Vietnam is a developing country, so Vietnamese government had given many policies that encourage foreign companies to expand market in Vietnam. These policies really help enterprises develop and making profit fast .Because of a developing country, Vietnamese’s income is less than many other neighbor countries but it still increase more and more. Moreover, most of Vietnamese people are young population so they accept easily a new kind of food. Moreover, business locations in Vietnam inspire of expensive, but it fits with the foreign investments that have large capital. Although the quality of labor force in Viet Nam is not high, TCRS don’t need to rent a high quality employee for some job like a waitress or chef. Besides, the price of Vietnamese labor force is cheaper than other countries in South East Asia. Finally, the price of raw material such as rice, chicken and vegetable in Viet nam is better than other countries in both quality and price.
There are 2 biggest kinds of brand which are running in the same kinds of business that TCRS will have to compete in Vietnam market. In the fast food areas, they need to face with KFC, Lotteria and BBQ which have become a famous brand in Viet nam. Besides, in Viet nam, there are more restaurant which famous about chicken meal such as Manh Hoach chicken, Walking chicken. They don’t have a secret formula but their traditional taste is fit with Vietnamese people. Another threat is illegal supplier whose goods is smuggled and evades taxes. TCRS should pay attention in this problem.
There are many ways for TCRS to segment Vietnam market. It can be: geographic segmentation, demographic segmentation, psychographic segmentation and behavioural segmentation. However, at the part of being a food company, TCRS should focus on two main factors are: geographic segmentation and demographic segmentation.
The companies should focus mostly on 2 factors: population and location. Population
Viet Nam is one of the biggest citizen country in the world, however, it distributed unequally. Vietnamese tend to gather in big cities such as Hanoi capital or Ho Chi Minh city. Therefore, TCRS will have the maximum a number of customers come in when operating business in Hanoi or Ho Chi Minh market. Location
In case of Vietnam, it can be divided to the Northern, the Southern and the mid Vietnam market. In the Northern and Southern, for example Ha Noi and Ho Chi Minh city, the facilities are quite modern, especially in some new high
building or centre mall. Almost every entertainment & cultural centres also are built in these two cities. Although there are more problems in rending place in here, these two cities are really potential market if TCRS dare to invest aggressively. Besides, in the mid Vietnam such as Da Nang city, it is in the developing stage so TCRS can target in here as a good market in the near future.
We can be divided into 3 groups, which correspond with different needs and wants Children (under 12) and Teenager (under 20) They easily attracted by the appearance of product or sometimes only brand of the company. They seem to a potential customer because TCRS don’t need spend more money to attract or advertise. However, they don’t have more money and they need to depend on the adult. TCRS can use this information to develop their product such as colour, flavour, shape even building-up a new mascot which can help them dominate this area. Adult (over 20)
In this group, customer can independent about their money. Most of them have a job and maybe have family so they don’t want to spend their money ineffective. Thus, the duty of TCRS is getting more satisfation of this group.
Psychographic segmentation divides consumers on the basis of difference in lifestyle, attitude, interest, and opinions. We can divide Vietnam into two main markets according to life style criteria: Southern market and Northern market. Vietnamese who live in the South have a liberal life while Northern people tend to live simply. Thus, customer approach of the two clients will be different.
They should do well this issue to maximize revenue and gain the satisfaction of all customers. Besides, the interest of customer when they go to the restaurant alone and with their family is different. TCRS have done this work very good in Malaysia when building up a good image about fast food restaurant for family. It’s may an advantage for them to attract customers in Vietnam. Moreover, I think they can expand the market for couples. For example, they can they can create the romantic space for couples in love or married couples. They should also build an image which may be eye-catching logo, mascot their characteristic. 4. Social behaviour
Socio-cultural segmentation divides consumers on the basis of culture, sub-culture, cross-culture, religion and social class In real life, we can be divided into three classes: the upper class, middle class, and lower levels which correspond to their income. TCRS’s products need to suitable with all of them, but TCRS can decide to focus in a particular class first (I suggest that middle class first, then upper class and finally lower class) TCRS is a Chinese style restaurant so it can taste quite suitable with customer in Vietnam. In the menu of TCRS, there are many dishes similar to the meal in a restaurant in Vietnam (of course there are differences in presentation and various spices of each country). For this reason, customers are easy access to the restaurant’s meals.
As mentioned above, TCRS style is Muslim so sometimes their food is quite strange and not tastes with normal people. Besides, Vietnamese people, who mostly believe in Buddhism, are not Muslim. So, I think they can try to invest in a quite new aspect that is vegetarian food. Chicken rice not using chicken and instead of vegetarian-chicken (can be made of tofu) can be a strange and special dishes, but quite difficult to eat. However this is only an idea they can grow up because it’s too risky. TCRS should choose one or two factors to focus on segments to specialist and also have a change to dominate the market.
As mentioned above, after the market segmentation, TCRS should focus on limited markets to reduce the waste of resources and more specialized in some specific products. The suggestions below are the points out a potential market which TCRS should focus on. a. Geographic
TCRS should focus on two major cities of Viet Nam which are Hanoi and Ho Chi Minh City first. And then, if the business is effective, they can expand more stores in these two cities, and branding in some big cities such as Da Nang, Hai Phong, Hue, Can Tho in which the population concentrated and more visitors are attracted. b. Demographic
About age, they should focus on customers are children, teenagers and adult ,especially young working class because they easily accept new products and prefer to follow the new trend. More specifically, with children, TCRS can create an icon which closes to us, for example Mickey Mouse of Disney or a McDonald clown image. They could use some familiar images to Vietnamese children today such as fruits robot or Ben 10. But if you can, they can fully develop a completely new cartoon character from their symbol – chickens. With teenagers, they are directed to a store with youthful style as open space, beautiful view and friendly.
Moreover, they like to have promotions or events regularly. Both these customers are easily noticed by the eye-catching product and decoration of the restaurant space. Therefore, TCRS may not need to spend a lot of money but they can still attract a large amount of customer loyalty. In contrast, about occupation, working class, especially office workforces, want a fast food service which are cheap and high quality. They mostly to the restaurant at lunchtime, so what they need are time and quality (meaning that they have full enough to be able to work). Furthermore, it would be reasonable if a restaurant express delivery service (such as KFC is doing in Vietnam) because it saves time and health for working class. c. Psychological and social
With what TCRS has been done in Malaysia and Singapore, they will not be difficult to build a family style restaurant in Viet Nam. Family atmosphere at a fast food can be a feature to attract customers. In addition, TCRS may be interested in a new customer object that is the couple. The couple in love and married couples look for a romantic space and privacy, especially on days of celebration or valentine day. If possible TCRS should think about this new customer market. About product quality, it is clear that the Chinese style dish have more oil and fat. It may not be good for customers, especially vegetarians, children, and some patients. Although this is an inevitable but TCRS absolutely can to improve the dish so that it more friendly to all customers.
Personally, TCRS can offer some unique products such as vegetarian dishes (instead of chicken with chicken sauce) for persons who want to lose weight or want to eat vegetarian. With children who need nutritional or patients after the sick, TCRS can sell chicken rice products with high nutritious. However, however, these are unrealistic ideas and apply only in a short time so TCRS can be used or not. Besides, in religion, TCRS does not need pay too much attention because some religions which exists in Vietnam do not have too many rules about eating (unlike Muslim in Malaysia and of course the monks in Buddhist would not choose TCRS because they do not eat meat). 2. Internal factors
Besides choosing suitable target markets, TCRS should consider the laws in Vietnam as labor law, business law. They should also invest in training a class professional staff; and care about their facilities and machines. The survey on product quality, customer satisfaction will be a good tool to TCRS can fix mistakes and make more competitive advantage to their rivals. They should also pay attention to the supply of raw materials (rice, chicken) because it in Vietnam is cheap and quality. They absolutely can set the right price for the product if their long-term suppliers are reasonable. Finally, they are about to consider financial, cash flow and interest to be able to plough efficiency.
Buying behaviour affects strongly marketing activities of TCRS. If TCRS want to do business in Vietnam market, they need to investigate how customers and their business partners feel about their products and services. There are two kinds of buying behaviour: Consumer buying behaviour and business buying behaviour.
It is begun when customers recognize their need or problem. Therefore, marketers should identify the needs and wants of customers to encourage and satisfy their interest. From this point, it is important for TCRS to gain attention of customers by proceeding marketing activities effectively to stimulate their demand.
After realize their needs, customers tend to search information based on three ways: consult friend’s ideal, search on Internet and find out by themselves in advertisement. Therefore, TCRS should encourage their marketing activities in every mass media. It must be ensured that no matter which ways customer search information, all customers will find out information of TCRS. In fact, the information in current era is regularly chaotic. In order to avoid customers confused by the rubbish information, TCRS do some things that unique and easy to make impressive with customer. For example, they can built-up a new cartoon image for Vietnamese children who is easily to attract by cartoon or colourful advertisement.
Customers tend to evaluate choices from several products that they searched and then choose the brand which maximize the profits. Besides, maybe it is the compare between quality, promotion, location, design, brand, and so on. Normally, customer will be vigilant the products when they hear about TCRS in the first time. In this case, if only to hear from TCRS advertisements, customers will continuously suspect and not believe in the product. TCRS should apply some advertising to confirm the quality of their products. For instance, TCRS can do some promotions such as free samples. Once customer enjoy products of TCRS, they can compare quality of their foods with other products of other companies.
After collecting information and comparing among products, customer will decide to buy the most suitable one. Normally, they tend to buy the most preferred brand. There are two factors which can intervene between the purchase purpose and the purchase decision, namely attitude of others (friends, relatives) and unanticipated situational factors (financial conditions, more urgent).
We can see that the buying behaviour of customer is impacted a lot from the attitude of surrounding people. Promotion programmes or customer care are also can get more attraction of customer. For instance, sale-off 5-10% in national events or buy three gets one (in fact the second way is more effective than first way). About customer care programmers, TCRS should collect feedbacks or suggestions from customer regularly to have right and opportune solution and they must answer these questions with friendly and open-hearted attitude. The key of success here is make customers feel comfortable so TCRS can continue its business.
Last but not least, post purchase evaluation is a very important stage that decides the loyalty of customer for a company. When more customers come back and re-buying or even buying more, which means they satisfied with TCRS products. If TCRS want this always happen, they should have a suitable post purchase campaign, try as much as possible to keep loyal customer. Because TCRS is a fast food company, so they can attract people to buy their products by give buyers a discount card when customer spend 500.000 VND or more on eating TCRS’s foods in every shops and kiosks. And after having made a purchase with a high promotion like that, the customer should be encouraged that they have made a right decision.
Business market differs from consumer market in some aspects. It has smaller customers but much higher sales than consumer markets. There four types of organization markets, producer, reseller, government, and institutional markets.
The process of business to business is similar to the business to customer process. It is began when an organization recognize the problem which is the results of outside or inside stimulus. TCRS has to stimulate selling activities, advertising, etc. to build awareness of other organizations about TCRS products. For example, TCRS can establish some event or exhibitions and invite some represents of some potential companies to introduce about its products. If a company such as Vincom Centre supermarket want to carry on business of TCRS and realize advantages of their products, they would like to sign contract with this company in near future. So, when products of TCRS are available in that centre, it will have a chance to be more popular in Vietnam market.
Businesses identify the specification of the products whether it is satisfy their demand or not to decide which can sort out their needs. In this stage, officers play an important role in helping buyers identify their demand exactly, which have influence on supplier selection. TCRS should select enthusiasm, honest, active people to do this task to make positive impression to client. A staff with a chicken costume can be good idea about a person who description for customer about the product.
TCRS must emphasis on advantages of products, give a competitive price and define benefits when business buyers want to buy products of TCRS. TCRS also should keep the long-term relationship with potential companies by giving some promotion campaigns, buy one get one and so on. By using these strategies, it will be easier for TCRS to be chosen by many big business buyers.
After specifying products, enterprises will search information about the products through advertisement, catalogues, Internet, etc. Suppliers can be chosen is the result of analysing specification of products whether the characteristic of products fit in their demand. A friendly image of TCRS now could guarantee for the success of them. The matter about competitors also is a big problem of TCRS when both KFC and Lotteria jump into this market. So, a fitting plan in order to solve this problem should be considered by TCRS. In some situation, TCRS maybe can choose more than one supplier to ensure the profits.
Business buyers will compare the standard of their requirement and the standard of supplier companies including price, quality of products, brand and so on. Suppliers should be flexible to introduce product. This is the crucial step that decides whether TCRS can be chosen or not. Thus, TCRS’s marketer has to prepare the presentation carefully and demonstrate convincingly about the higher quality between their products and the one of other companies. This result requires TCRS’s marketer have knowledge and necessary skills in order to bring the success to them.
The business buyer will decide which supplier will be the most appropriate for their business through all information that they collected. Some criteria that business buyer base on maybe is quality, design, price, trend and so on. However, in some cases, they choose several suppliers to avoid unexpected situations.
The suppliers have to meet their demand, in terms of price, quality, delivery, quantity, and other requirements. In this stage, TCRS therefore will help the business buyers to draft the certainty contract immediately with the agreements between two parties, etc. which become advantages not only in present but also for the next time.
In this last stage, the buyers evaluate the quality of products, the performance of sellers in terms and so forth. Thus TCRS have to do all its best in order to affirm the quality and keep its prestige. However, there will be several changes when business buyer and supplier work together. Depend on the demand of customer; business buyer can change the number of goods that are provided. After the transaction is completed, suppliers should call, care about the orders for the long term relationship. There are three kinds of buying behaviours:
Straight re-buy After order the first time, business buyers repeat the ordering without modification. This is the advantage for suppliers. They should try their best to keep clients by maintaining and improving quality of products and services. In fact, there are some foods of TCRS is a “hot” choice of customer. So, they should improve more in this meal.
Businesses repeat ordering but require modification to previous purchase, package, quality, quantity, price, or even the suppliers. Therefore, the competitions among suppliers are hard. Each company have to improve and self-actualization in order to keep and gain more customers.
In conclusion, having the general knowledge about buying behaviour of customers and business will help TCRS can make profit in Vietnam market and build up a long-term relationship with many other companies which will help TCRS gain a big interest in the near future.
The main objective of a business (without profit) is the position in the market and in mind set of customer. TCRS is a foreign brand and this is the first time they come into Vietnam. It is important to build-up a link between them and a customer. Customer is often based on some criteria like price, quality and services to evaluate the quality and also the position of a brand. TCRS should set up an appropriate price to customer to sure that everyone can enjoy their products.
The quality of the products needs to raise first and they try to bring to customer the best services and hoping them can be loyal buyer. In fact, Vietnam is a developing country but people lived in cities have a high level of income so they can respond to pay any cost as long as the money which they spend is useful. With the familiar between Chinese food and Vietnamese tastes and also a new style: chicken rice – family style, TCRS has certain advantages in penetrating into the Vietnam market. However, the quality of TCRS’s food has not been verified by Vietnamese customer. Besides, the price of this product is not cheap with some particular customer. So, TCRS should balance the profit and the quality of food and also consider about the satisfaction of customer. They absolutely can do this work with the strong in capital and various experiences from success in Malaysia and Singapore.
TCRS is an international brand and Vietnam market totally is a potential market of them. However, TCRS must identify, analyse and evaluate this market carefully in order to have an appropriate marketing strategy. Because of the differences about culture, history, and people’s buying behaviours, TCRS should be alert to the compatibility of products and customers
With the useful information that I gave in this report, I hope TCRS can understand more about Vietnam market create a suitable marketing plan. Moreover, they can start their business successfully in Vietnam in the late of 2012. I wish in a near day, I can have a chance to enjoy the wonderful taste of TCRS in Vietnam.