Marketing for Lovely Lace

Essay by thanh_lan45University, Bachelor'sB+, November 2010

download word file, 28 pages 0.0

Table of contents



I. Basic concept of marketing

1. Definition of marketing 3-5

1.1 Compare alternative definitions 3-4

1.2 Importance of being a contemporary marketer 4-5

2. Main characteristics of a market orientated organization for today's modern business 6-8

3. The elements of marketing concept 9-10

4. Benefits and cost of a marketing approach for Lovely Lace 10-12

II. Contents

1. Micro and macro environmental factors, which influence marketing decision affecting Lovely Lace 13-17

1.1 Macro-environment 13-14

1.2 Micro-environment 14-17

2. Propose segmentation for Lovely Lace in two different markets 18-19

2.1 B2B market 18-19

2.2 B2C market 19

3. The factors influence the choice of targeting strategy for Lovely Lace 20

4. Effect of buyer behavior on marketing activities for Lovely Lace 20-23

( Individual customers 22

( Business customers 22-23




Recent years, Vietnam has been considered as a bright market, which is Asia's second fastest growing economy, only after China.

According to a forecast in December 2005 by Goldman-Sachs, "Vietnamese economy will become the 17th largest economy in the world with nominal GDP of $ 436 billion and nominal GDP per capita of 4,357 USD by 2025"�. In addition, according to a forecast by the PricewaterhouseCoopers in 2008, "Vietnam may be the fastest growing of emerging economies by 2025, with a potential growth rate of almost 10% per annum in real dollar terms that could push it up to around 70% of the size of the UK economy by 2050"�. Therefore, there are more and more foreign companies want to try in this new market, including Lovely Lace, a gift company from Malaysia.

Lovely Lace is a quite new brand for Vietnamese customers, but in fact the Malaysian enterprise was founded in1993 and has become very familiar,