Market Research Proposal

Baby draw powder is growing powerfully and rising as a necessary nutrition item for scotch at the beginning of development state of life in Vietnam. concord to Baby legislation price rise hits poor families (2013), In new-fangled years, many p atomic number 18nts who very cargon al well-nigh their childrens development, usually choose milk which is imported from US or New Zealand because it may be to a greater extent nutritious than domestic products although the price is higher than. Also, according to Euromonitor International (n. ), Vietnam is estimated as activeness and strongly develop economy, people are living ith the febrile lifestyles, shorter maternity leave and longer working hours lead woman hap less measure for nursing their children. Therefore, they tend to nurse babies by child regulation which offers better nutrition and necessary vitamin for children. In this research, the research police squad aims to find the relevant information about babe formula s ecurities industry in Vietnam in coiffure to help Oz dairy Foods enter this securities industry.By applying the soft research method actings, especially in- depth interview, the research team wants to identify what Vietnamese parents expect and their perception toward foreign babe formula product. Through that, Oz Dairy Foods may affirm a suitable marting schema to light upon their goal. Secondary research a. Vietnam economy and population research According to world Bank, Vietnam is a lower middle income country which has Gross National Income (GNI) at 1,400 dollars in 2012. The GNI of Vietnam is still lower than average lower middle income level and the growth is Just parallel together.Comparing to other developing countries in eastside Asia Pacific, GNI of Vietnam is much lower and the gap leave alone probably larger in the future. (Appendix Figure 1) Moreover, according to the General Statistics Office of Vietnam, Vietnams birth rate thinly grows to 16. 9 births/1000 people in 2012 which defines the increase in inquire for baby formula. (Appendix Figure 2) b. Market overview Vietnam is highly competitive market for infant formula industry and dominated mainly by international companies including Abbott, Friesland Campina and Mead Johnson and i domestic familiarity, Vinamilk (Euromonitor, 2013).Dielac is the market leader of brand shares in 2012 and follows by Gain, Dutch Lady, PediaSure and Enfagrow (Appendix Figure 3). Consequently, this bequeath create many challenges in gaining and remaining market snares especially tor new entries. In familiar, powder ilks prices range from 1 50,000 to 800,000 VND/ smoke that NET weight varies from 400gto 900g/ can. Help growth and immune system is the general message of current brands apply to attract consumers. It tends to succeed in communicating outstanding quality of additional nutrition and vitamins to consumers.Besides many opportunities that Vietnam market brings to infant formula providers, they have to face with barriers from the government and consumers chance. According to Communist party of Vietnam online newspaper, Vietnam government applies tariff for imported brands at 10% that is highest in region. Moreover, the dispersion system is fragmented and unorganized. The study of Euromonitor in March 2013 about infant formulas in Vietnam points out that Vietnamese parents are increasingly worried about nutrition in infant formula due to the negative make of a series of scandals through media channels.The study excessively clarifies the challenge from Vietnamese government when on that point is a policy for restricted advertising on infant formula for children younger than two years old in effort to encourage breastfeeding. c. Forecast Despite the difficulty in scotch growth, sale volume of infant formula is foreseen to each 53,402 tons in 2017 (Appendix Figure 4). Consequently, the statistics proves that Vietnam is the potential market for infant formula. inqu iry problem a.Research objectives nominate Vietnamese customers perception and expectations toward foreign infant formula product locate key factors that affect infant product market mix b. Research questions Which constitutes that influence customers decision in buying infant formula products? What is customers expectation towards price over value of infant formula product? What is the almost stamp down distribution and SCM for infant formula roduct to reach the majority of customers? What kinds of furtherance strategies and tools that could be successful in Vietnam infant formula product market? c.Research purpose The purpose of this research is to determine Vietnamese customers expectations toward foreign infant formula products in order to construct appropriate marketing strategy that reaches the majority of customers. Without market research, the follow might apply inappropriate marketing strategy which might lead to failing in Vietnam infant formula market. Method ology a. Research method Basically, to exploring the customers perception and expectations toward infant ormula product, in-depth interviewing method forget be applied as the most appropriate method for the company to chosen.Clearly, this is a type of qualitative research which could probably help the company to have a deep agreement about the infant formula market which focus company interview and quantitative methods cannot do. Moreover, two crucially important factors for doing in-depth interview are having more explanation and receiving better results when the answerer is not influenced by other answerers opinions as well as there is more time and a comfort environment for the interview and respondent to discuss about he subjects. . Instrument development and fieldwork In order to make the in-depth interview more completed, an interview guide which including prepared questions duplicate with the identified research problem and the researchs needs pull up s adjourns be creat ed. Moreover, we will find around 10 appropriate respondents to do interview with them in their preferred places. Furthermore, the chosen interviewer (from the group) needs to be trained and well-prepared before access to the rendezvous to do the interview.For instance, the interviewer need to have a deep understanding about the research, the topics or questions need to be overed in the interview and also the respondents background information to ensure that they can be able to hold and lead the interview well. Additionally, when doing the in-depth interview, one member will take the parting of an interviewer and the others member will take notes and record the interview. Namely, each in-depth interview in the midst of 1. 5 hours to 2 hours will be recorded on attach for the following analysis and completing the final report.At the end of the day, the whole group will collect all answers and analyze the data by using the data analysis methods mentioned below. c. Sampling Target population Demographic infant formula product buyers (mother/father), married couples tend to have baby geographical Ho Chi Minh City Gender Male and Female get along with Above 20 years old Sampling methods Basically, there are two sampling methods including non-probability sampling and probability sampling. Probability sampling requires to have information from lists of available respondents whereas, non-probability does not require them (Zikmund, 2010, pp. 37-338). Although results provided from probability sampling look more accurate and credible, non-probability sampling is less expensive and save more ime to conduct. Thus, in the research of infant formula product, non-probability sampling method will be utilise. Specifically, convenience sampling which obtaining available information and respondents conveniently will be applied here. Sampling unit and size Due to the limitations of time and resources, it is hard to do research on the whole HCMCs population so we Just can do interviews with around 10 respondents.Research Method expect Sample Size Research Procedures In-depth Interview 10 HCMCS citizens footstep 1 Prepare an interview guide Prepare around 4 topics or 10 questions Step 2 Contact with the chosen respondents for permission Step 3 1. 5 to 2 hours Discussion and interaction Record and take note Step 4 Choose around 5 most relevant respondents to analyze Time frame Data analysis method Firstly, field editing will be applied on the aforementioned(prenominal) day as the interview occurred to ensure that our group will gained appropriate information.To illustrate, the interviews will be double check by the whole team at the end of the day to avoid as much as possible problems. Clearly, the interviewer will go over his notes to find out inconsistence answers that are not correlated with the interviewees answers. Secondly, coding open-ended questions will be used to categorize the interviewees answers into different particular grou ps by sorting the key nomenclature from their provided answers.