Prepare basic financial statements for unincorporated and small business organisations in accordance with accounting principles, conventions and standards. Interpret financial statements. Interpret financial statements
Table of Contents
I. The marketing plan................................................................................................................... 2
I. The marketing plan.
1. Executive summary.
Lotte Mart - a division of the South Korean multinational conglomerate corporation Lotte Group,
is a big supermarket chain which sells variety of goods such as toys, groceries, clothing… Its
first appearance to the public was in Korea in 1998. Ever since Lotte Mart opened its first
branch in Vietnam in 2008, the company has expanded with 13 supermarkets in different areas
and achieved many prestigious awards in business. Lotte Mart Vietnam is a familiar and
favourite shopping place to local consumers. The business now attempts to explore
environmentally friendly food section and spread meaningful social values with the new healthy,
organic, homegrown mushroom food line to Vietnamese customers. In order to be successful in
this market, the company has come up with a detailed and strategic marketing plan, which
targets youngsters and adults from 15 to 40 years old, utilizes digital marketing methods and
closely commits with the promised values. The mushroom line will gain public recognition with
superior taste and values: eco-friendly, healthy and natural, supporting Vietnamese farmers,
reasonable price, which are what not many businesses can offer currently. Launching this new
food line will help Lotte Mart Vietnam attract and analyse new types of customers, become the
leader in the domestic niche food market, explore more potentials of business growth and
develop sustainably.
2. Marketing situation.
Lotte Mart Vietnam aspires to be one of the biggest companies in the retail industry, with the
mission “one destination, various choices” and long-term development orientation (Thu Ngan
2017).
, Hereby is the PEST analysis, an effective tool for enterprises to detect the important elements in
the macroenvironment (Tran 2020), for the retail industry in Vietnam:
Politics: Vietnam is a politically stable country (Tran 2020). With the COVID-19 pandemic, Viet
Nam introduced measures and incentives to lessen the impact on businesses, such as reducing
corporate income (World Trade Organization 2021).
Economic: Vietnam has maintained inflation rate under control this 2021, but the inflationary
pressure is forecasted to be huge for 2022 (Hai Yen 2021). The number of supermarkets,
shopping centres, convenience stores is rapidly rising (World Trade Organization 2021).
Social: Consumers in Vietnam are prioritizing healthy food, including goods made with natural
and quality ingredients, along with safe producing process (Nam Anh 2020). Vietnam would
face many changes in consumers, noticeably seniors account for more spending, bigger
consumption by Generation Z and millennials – who born 1980 - 2012 and are tech-savvy,
preference for local brands and increasing attention to conscious lifestyle (Delteil et al. 2021).
Technology: Vietnamese’s digital adoption and use is increasing (Delteil et al. 2021).
Technological innovations like Big Data, AI, Machine Learning allow businesses to have
valuable and unique approaches to customer (Vietnam Plus).
Therefore, it is clear to see that retailers can operate business smoothly in the stable political
scene, pay more attention to develop healthy food and supplement products, quickly adapt with
the new demographic shifts and make the most use of technological advancements, prepare
strategic plans for the changing and competitive economic.
The retail sector of Vietnam is the quickest growing in Southeast Asia and is ready for
modernization (Breu et al. 2019). The food retail has been increasing consistently with the rising
trend of shopping at modern channels like supermarkets despite traditional outlets still makes
up the most of grocery retail sales (Nguyen 2021). Other market’s movements are higher
purchasing in packaged/ready-made/dry food products and higher demand in online grocery
shopping (Nguyen 2021).
Lotte Mart Vietnam’s key competitors are Vinmart, Saigon Co.op, especially Big C with 57,6%
market share (Deloitte Vietnam 2020), not to mention other indirect opponents such as
traditional grocery stores or small merchants. The big players in food retail have their brand
awareness at high level with various types of food that are trusted by consumers and are quickly
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