Vietnam is a Pepsi dominated market with Pepsi having 55% of the market and coca cola products garnering only 39% of the market.
Coca-cola has the required brand awareness but needs to improve brand acceptability in Vietnam. Therefore its market strategy i.e. advertisement plan, pricing plan and marketing logistics should be based on improving the brand acceptability to command a high order of brand loyalty. Pepsi has the first mover advantage in Vietnam and a good advertisement campaign because of which it was able to entrench itself into the tradition of Vietnam thus building its brand loyalty.
The target population of coca cola is the young crowd who believe in success, independence and living in harmony and their entire lifestyle is based on traditionalist values. They also believe in foreign brands but look for a unique selling proposition (southerners) and novelty (northerners). Therefore for the advertisement campaign Coca Cola should use a successful Vietnamese teen icon, with whom the young crowd can relate to, as its brand ambassador.
The advertisement should have a traditional punch line, an American setting like a hip hop club, shopping malls etc. and a clear message that coca cola is the preferred drink of the successful leaders or groups. For further share of voice coca cola should also have an advertisement campaign for the Tet Nguyen Dan where its emphasis should be on how coca cola can act as a magnet to attract the entire family and they can all together enjoy the festival with coca cola.
Reinforcement advertising can be done through sponsorship of village festivals because the major Vietnamese population who could be the target market is in these villages and this exposure will help in increasing coke's share of mind. The vendors should also be provided with eye-catching banners as they would...