BHO6505 Marketing Management Assignment Answer
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Section A: Mini Case Study
This section is worth 15 marks in total (3 x 5 Marks)
Please answer all questions (Compulsory). Tables and diagrams are encouraged where applicable
On the eastern tip of the Indochina peninsula in southeast Asia, Vietnam is one of the larger and more densely populated countries in the region. Vietnam is a fast-growing expat destination, and one of the more popular places for retirees, expats, and digital nomads living in Southeast Asia. The country offers expats a quality of life that is, in many ways, better than that of neighboring nations. The food is diverse and delicious, the cost of living is low, and there’s a lot to love in the country’s stunning beach towns and cool mountainside cities
Vietnam Area and Population Density
Vietnam has a small surface area, and at 331,210 square kilometers (128,565 square miles), this is only the world’s 65th largest in terms of landmass alone. Those two sets of figures would suggest a densely populated landscape and that is the case to an extent. For every square kilometer of land, there is an average of 291.33 people. That number converts to 112.5 individuals per square mile and overall, this becomes the 46th most densely populated country on earth.
Largest Cities in Vietnam
Vietnam has 5 cities with populations over one million, the largest of which is Ho Chi Minh City with a population of 8,636,899. The city of Ha Noi is a close second with 7,781,631 people residing there. The remaining 3 cities with substantial populations are Hai Phong (602,695), Da Nang (752,493), and Can Tho (259,598).
Based on 2019 Population Pyramid, the age structure and sex ratio could be summarized as follow:
0-14 years: 23.27% (male 11,876,141 /female 10,704,895)
15-24 years: 15.81% (male 7,967,981 /female 7,371,016)
25-54 years: 45.67% (male 22,378,768 /female 21,939,925)
55-64 years: 8.9% (male 4,014,622 /female 4,620,177)
65 years and over: 6.35% (male 2,404,304 /female 3,762,505)
at birth: 1.1 male(s)/female
0-14 years: 1.11 male(s)/female
15-24 years: 1.08 male(s)/female
25-54 years: 1.02 male(s)/female
55-64 years: 0.87 male(s)/female
65 years and over: 0.64 male(s)/female total population: 1.01 male(s)/female
Vietnam Religion, Culture, Economy and Politics
In terms of religious preferences among the population of Vietnam in the World Factbook, we see Buddhists at 7.9%, Catholic 6.6%, Hoa Hao 1.7%, Cao Dai 0.9%, Protestant 0.9%, Muslim 0.1%, no preferred religion 81.8%.
The World Happiness Report shows a ranking of 95, with a rating of 5.1 in terms of overall happiness. Based on Hofstede Insights, Vietnam scores 20% in Individualism dimension.
In 2018, Vietnam’s GDP growth rate hit a 10-year record high of 7.08%, making it one of the top growth performers in the region and the world. The average nominal GDP per capita was nearly US$2,600, equivalent to GDP per capita in PPP terms of US$7,600. Vietnam’s development builds upon socio-political and macro-economic stability, as well as effective inflation control and improvements in the quality of growth. Moreover, the purchasing power of the 95-million strong population has made Vietnam an attractive market to foreign investors.
- An Australian Restaurant and Bar business has asked you to advise them if the Vietnamese demographic and institutional context would match with their intention to enter Using concepts related to ‘segmentation and targeting’, provide specific advice to the Australian business owner. [5 marks]
- Vietnam scores low in individualism dimension. Using concepts related to ‘Place’, provide general advice to the Australian business owner. [5 marks]
- There are many approaches to setting prices. Discuss three of these approaches and which one you would recommend for this company in Vietnam. [5 marks]
Section B: Short essays
This section is worth 12 marks in total (2 x 6 marks).
Please answer both questions (Compulsory).
Question 1: The reading ‘Marketing and Ethics’ discusses a decision the assistant brand manager at Klein’s Food took to cut costs. Using Ethics and Social awareness concepts, was it ethical to change what the customer received even though the product marketing was going to be the same? Is it ethical and socially responsible to engage in ‘Little White Marketing Lies’? [6 Marks]
Question 2: The reading ‘The four approaches’ by Seth & Sisodia (2014) presents the four As as the most relevant customer-centric approach. Discuss the similarities and differences between the four A’s and the traditional four P’s. [6 Marks]
Section C: Short Answers
This section is worth 8 marks in total (2 x 4 marks).
Please answer both questions (Compulsory).
Question 1: Define and discuss core element and value-added services offered by a business. Discuss with examples how marketers can compete or differentiate on value added offerings. [4 Marks]
Question 2: You have learned 14 marketing buzzwords while listening to Pecha-Kucha presentations in-class. Describe two of these marketing buzzwords and provide examples. [4 Marks]