Vietnam Market Competitive Pricing Assignment Example | Topics and Well Written Essays - 10000 words

Vietnam Market Competitive Pricing - Assignment Example The chief executive officer represents the company in making deals with other companies. The chief operating officer is directly below the CEO. Under him, there are production and business managers who oversee the production and business wings. The division operates autonomously. Several departments branch from the production wing such as procurement and production department. The business wing has finance, quality assessment, manufacturing, and sales department. The supply chain management in the company focuses on the need to interact with customers so as to identify the gaps in the market and take the appropriate action. Its marketing strategies recognize the need for SWOT analysis and trade marketing. The company conducts promotions where it gives 10% discounts to wholesalers and also offers a promotion on special days. To keep aloof from the market trends, the company holds at least one fashion fair. Through its process, AK Underwear undergoes several challenges. The main one is lack of enough capital to conduct adequate product development. This affects the success of some products which in turn affects its revenues negatively. There are also failures in products as a result of inadequate market research. The company is not fully established in Europe and the U.S therefore unable to tap into those potential markets. In recent times, there has been a low amount of high-quality raw materials which affects the implantation of the goal to produce high-quality products. At times the raw materials are highly priced due to economic factors such as inflation. There are several recommendations that the company can consider. First, it should prioritize conducting adequate market research so as to guide its production and sales activities. It can interact with the customers to identify their preferences. It should consider raising capital through public offering its shares, approach lenders through a well-drafted business plan, or contact the government for financial help as it is already a reputable business in Vietnam.