LITERATURE REVIEW
Marketing research
We now will scan for some theories about task and definition of marketing research, marketing information system, and marketing research process
Market research will provide specific market information that will permit the firm to select the target market segment and optimally position the offering within that segment.
Marketing research aims to enhance the accuracy of information used in decision-making By focusing on a systematic and objective approach, it encourages decision-makers to move away from relying solely on intuitive information gathering.
As American marketing association: Marketing research is defined as the systematic and objective process of gathering, recording, and analyzing data for aid in making marketing decisions 2
Marketing research serves as a crucial link between consumers, customers, and marketers by providing essential information that identifies and defines marketing opportunities and challenges It plays a vital role in generating, refining, and evaluating marketing strategies, monitoring performance, and enhancing the overall understanding of the marketing process By specifying the necessary information to tackle these issues and designing effective data collection methods, marketing research ensures informed decision-making in the marketing landscape.
2 American marketing association (1960) Marketing definitions: a Glossary of marketing terms , page 17 information, manages and implements the data collection process, analyzes, and communicates the findings and their implications 3
Effective marketing research is crucial for informed decision-making, yet managers often struggle with both the lack of relevant information and the overwhelming amount of irrelevant data To address these challenges, information must be managed systematically The importance of marketing research became evident in the 1950s and early 1960s, as managers recognized that addressing isolated problems in an unsystematic manner was inefficient This shift in thinking, combined with the rise of computer technology, paved the way for the development of the marketing information system (MIS) concept, which enhances the collection and management of valuable data.
A marketing information system is a dynamic framework that integrates people, technology, and processes to continuously collect, organize, analyze, assess, and disseminate relevant and timely information This system is essential for marketing decision-makers, as it enhances their ability to plan, execute, and control marketing strategies effectively.
In introduction, six phases of research had been listed Now, Figure 3 Follow chart of the research processshows the decisions that researchers must make in each phase
3 American Marketing Association (AMA) - Official Definition of Marketing Research
4 Philip Kotler, Principles of Marketing (1980, page 136)
Figure 3 Follow chart of the research process 5
The process begins with problem discovery Indentifying the problem is the first step toward its solution
Accurately defining the research problem is essential in the marketing research process, as an incorrect definition leads to misguided research objectives This misalignment can result in wasted time and financial resources, highlighting the importance of a clear and precise problem statement.
Exploratory research is often conducted during the initial stage of the research process The preliminary activities undertaken to refine the problem into a
Exploratory research aims to progressively narrow down the research topic and transform identified issues into clearly defined problems with specific research objectives It does not require a formal or precise approach, allowing for flexibility in understanding the complexities of the subject matter.
Researchers have three basic techniques for discovering insights and gaining a clearer idea of the problem: secondary data, experience survey, and pilot studies
After identifying the research problems, it is essential for the researcher to articulate a formal statement of the problem along with the research objectives This statement outlines the specific information that needs to be gathered and establishes a framework that defines the scope of the study.
After defining the research problem, the next step is to develop a research design, which serves as a comprehensive plan outlining the methods and procedures for gathering and analyzing essential data This framework acts as the blueprint for the research action plan.
Choosing the appropriate research method is crucial, with four primary design techniques for descriptive and causal research: surveys, experiments, observations, and secondary data analysis The selection of these techniques is influenced by the availability of data sources, the urgency of the decision-making process, and the costs associated with data collection.
Once the proper design has been determined, the researcher moves on the next phase: sampling
Sampling involves any procedure that uses a small number of items or that uses parts of the population to make a conclusion regarding the whole population
The next sampling issue concerns sample size Sample size means that how big should the sample be?
Gathering or collecting information should be conducted after all above phases
Correlative with research techniques, there are many methods of data gathering such as: secondary methods, observation, mail interview, telephone interview, personal interview, focus group
After completing data collection, the next step is to transform the data into a format that effectively addresses the research question This data processing phase typically starts with editing and coding, where editing focuses on verifying the data collection forms for any omissions, ensuring legibility, and maintaining consistency.
To effectively tabulate data, it is essential to create meaningful categories for grouping responses The guidelines for interpreting, categorizing, recording, and transferring data to storage media are known as codes.
Finally, conclusions and reports are made for managerial decision.
Research methodology theory and implication
This section delves into the research design and methodology, beginning with an exploration of the research purposes It then addresses the appropriate methodological approaches, highlighting various types of research and approaches to selecting a fundamental research method.
When conducting research, it's essential to choose the appropriate type based on the objectives: exploratory research is ideal for gaining insights into unfamiliar topics, descriptive research helps in understanding characteristics of a population, analytical research provides deeper analysis of data, and predictive research forecasts future trends The choice between qualitative and quantitative methods depends on the nature of the research question, with qualitative methods offering rich, detailed insights and quantitative methods providing measurable data Additionally, researchers should consider using survey research for direct feedback from participants or secondary data studies for leveraging existing information, ensuring a comprehensive approach to data collection and analysis.
Marketing research design consists of six key phases, as illustrated in Figure 1 of the introduction To understand the research methodology, these phases will be reinterpreted, as shown in Figure 3 Following the research process chart is essential for effective analysis.
After that, Sample selection, Data collection methods, Data processing analysis will be discussed to help readers know more about how the surveys is conducted
This section will detail the theory of above section – marketing research
Market research involves the systematic collection, recording, and analysis of data related to customers, competitors, and the overall market This essential process aids in developing business plans, launching new products or services, refining existing offerings, and exploring new market opportunities By identifying key demographics such as age, gender, location, and income level, businesses can pinpoint the segment of the population most likely to purchase their products or services Ultimately, market research provides valuable insights into both current and potential customers, helping companies understand the characteristics of their target market.
This research aims to assist companies in enhancing their business decisions regarding the development and marketing of new products, specifically focusing on the Vietmac rice burger after several months of market testing Additionally, it reviews and synthesizes existing knowledge related to marketing research and the fast food market in Vietnam.
This research focuses on the fast food market, emphasizing the importance of information gathering After defining the problem and identifying the research objectives and questions, it is essential to determine and implement appropriate research types, approaches, and methodologies.
Exploratory research is conducted in the absence of prior studies, aiming to identify patterns, hypotheses, or concepts for further investigation Common methodologies include case studies, observational research, and reviews of existing literature and data.
Descriptive research can be used to identify and classify the elements or characteristics of the subject Quantitative techniques are most often used to collect, analyze and summarize data
Descriptive studies aim to address key questions such as who, what, when, where, and how These studies operate under the assumption that management possesses a foundational understanding of the relationships among the variables involved in the issue at hand In this context, a variable refers to a symbol or concept that can take on various values.
A descriptive study in a thesis may encompass the demographic and lifestyle characteristics of customers, along with their habits and satisfaction levels It can also investigate the frequency of fast food consumption and the company of individuals when dining out This type of research is valuable for exploring the competitive landscape and various factors related to the fast food industry.
Analytical research builds upon descriptive research by exploring the reasons behind phenomena and identifying contributing factors This type of research is crucial for understanding the underlying mechanisms of various occurrences.
Predictive research: The aim of this research type is to speculate intelligently on future possibilities, based on close analysis of available evidence of cause and effect
It is quite blur of edge within these above types of research, but as described, the Descriptive method is almost used in this research
This research analyzes the fast food market by synthesizing data from both secondary sources and primary research conducted by the author Employing a mixed-methods approach, the study utilizes qualitative insights alongside quantitative data to explore customer needs, habits, and satisfaction To gather relevant information, the author conducts surveys using questionnaires, focusing on quantitative analysis to measure the findings effectively.
Quantitative approach is on collecting and analyzing numerical data, it concentrates on measuring the scale, range, frequency etc of phenomena
The quantitative approach employs positivistic methodology to generate knowledge, focusing on aspects such as cause and effect and hypothesis testing This type of research involves the analysis of numerical data, and in this instance, a quantitative survey will be conducted Key features of quantitative research include its reliance on measurable data and structured methods for analysis.
- The aim is to classify features, count them, and construct statistical models in an attempt to explain what is observed
- Researcher knows clearly in advance what he/she is looking for
- Recommended during latter phases of research projects
- All aspects of the study are carefully designed before data is collected
- Researcher uses tools, such as questionnaires or equipment to collect numerical data
- Data is in the form of numbers and statistics
- Objective seeks precise measurement & analysis of target concepts, e.g., uses surveys, questionnaires etc
- Quantitative data is more efficient, able to test hypotheses, but may miss contextual detail
- Researcher tends to remain objectively separated from the subject matter
The qualitative approach is inherently more subjective than the quantitative approach, focusing on the exploration of intangible aspects such as values, attitudes, and perceptions This method involves analyzing diverse data forms, including words from interviews, images from videos, and objects like artifacts Key characteristics of qualitative research highlight its emphasis on understanding complex human experiences and interpretations.
- The aim is a complete, detailed description
- Researcher may only know roughly in advance what he/she is looking for
- Recommended during earlier phases of research projects
- The design emerges as the study unfolds
- Researcher is the data gathering instrument
- Data is in the form of words, pictures or objects
- Subjective - individuals interpretation of events is important ,e.g., uses participant observation, in-depth interviews etc
- Qualitative data is more 'rich', time consuming, and less able to be generalized
- Researcher tends to become subjectively immersed in the subject matter
1.2.2.3 Choosing a basic method of research:
The research process involves critical decision-making, as illustrated in Figure 3, which outlines four fundamental design techniques for descriptive and causal research: survey techniques, experiments, observation, and secondary data analysis Considering the study's objectives, available data sources, cost constraints, and time limitations, the optimal approach for this research is to utilize survey techniques alongside secondary data studies.
Survey research entails an interviewer engaging with respondents to collect facts, opinions, and attitudes, utilizing a structured questionnaire to facilitate organized data collection.
Face-to-face interviews may take place in the respondent’s home, a shopping mall, or a place of business
The marketing analysis
In this section, the author discusses about some field of marketing management theories such as marketing mix, segmentation, target market, positioning
Marketing management, as defined by the American Marketing Association, involves planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services This process aims to create exchanges that fulfill both individual and organizational objectives.
We should take an overview of Vietnam fast food marketing application, how players employ their marketing activities?
Franchise business model: Almost fast food brand in Vietnam are doing business as franchising e.g KFC, Lotteria, Jollibee, Pho 24
To attract a growing customer base, fast food brands frequently employ the strategy of rapidly expanding their store chains A prime example of this is KFC, which has significantly increased its locations to enhance accessibility and drive sales.
Since its inception in 2005, KFC Vietnam has experienced significant growth, expanding from 17 stores to 90 by the end of 2010 Currently, KFC operates 100 locations across the country and aims to increase this number to 105 by the end of 2011.
Attractive decoration, cool atmosphere, and comfort are some criterion of fast food stores According to a recent survey by AC Nielsen about trends of fast food
According to a study by Peter D Bennett in the Dictionary of Marketing Terms, over 70% of respondents in Vietnam visit fast food restaurants primarily due to the appealing atmosphere and quality of service provided.
Professionalize staffs Staffs working in fast food industry are almost good looking, trained by the company, so that, they are very professional and standardization
KFC Vietnam's Business Director, Mr Thanh Tam, highlights the importance of flexibility and localization in their menu offerings He notes that while rice was previously absent from fast food menus, it now accounts for 90% of sales among Vietnamese customers, showcasing a significant shift in consumer preferences.
Mr Dennis Flore, Vice Chairman of Jollibee, highlighted that chicken rice is the best-selling item on the Jollibee menu in Vietnam This dish is typically served with soup and has been tailored to suit local tastes through traditional cooking methods As a result, chicken rice accounts for 60% of Jollibee's total sales volume in the Vietnamese market.
Some characteristics of marketing environment influence to Vietnam fast food marketing application are generated as figure 4
Figure 4 Factors influence to Vietnam fast food marketing application
1.3.2 Market segmentation, target market and positioning
Marketers often face the challenge of meeting the diverse preferences of consumers, as not everyone shares the same tastes, price sensitivities, or service expectations To address this, they employ market segmentation, which involves identifying and profiling distinct groups of buyers who may have varying product and marketing mix preferences By analyzing demographic, psychographic, and behavioral differences among consumers, marketers can pinpoint specific market segments that offer the greatest opportunities for targeted marketing efforts.
A target market refers to a specific group of individuals who are likely to need or desire your products and services This group is characterized by various factors such as age, gender, sexual orientation, economic status, religion, ethnicity, and geographical location By segmenting the market socio-economically, businesses can develop detailed profiles of their ideal consumers, enhancing their ability to effectively reach and engage potential buyers.
Positioning For each chosen target market, the firm develops a market offering
The offering is positioned in the minds of the target buyers as delivering some central benefit(s)
The marketing mix refers to the collection of tools a company utilizes to achieve its marketing goals within its target market According to McCarthy, these tools are categorized into four key components known as the four Ps of marketing: product, price, place, and promotion.
7 Philip Kotler, Marketing management, Millennium edition, 2001, page 4
8 E Jerome McCarthy, Basic Marketing: A Managerial Approach, 13th ed (Homewood, IL:
Figure 5 The four Ps components of marketing mix 9
Effective marketing-mix decisions are crucial for impacting both trade channels and final consumers In the short term, companies can adjust pricing, sales-force size, and advertising budgets, while new product development and distribution channel modifications generally occur over the long term Consequently, firms often implement fewer immediate marketing-mix changes than the variety of decision variables might indicate.
9 Philip Kotler, Marketing Management, Millenium Edition, 2001, P.10
Robert Lauterborn suggested that the sellers’ four Ps correspond to the customers’ four Cs 10
Franchising
Franchising is used by most players to expand its stores, so that, to know about franchising is so important
The franchising model is ideal for developing economies like Vietnam, as it enables individuals with limited capital to engage in established businesses Recently, Vietnam's franchising market has seen remarkable growth, averaging 30 percent annually and witnessing the opening of over 600 new franchise shops Despite the market's small size and limited competition, rapid expansion is anticipated Prominent foreign franchisors have successfully broadened their operations, while local businesses increasingly recognize the potential of franchising Many are actively seeking partnerships with renowned foreign brands to launch franchise ventures in Vietnam.
Franchising was legally recognized in Vietnam with the passing of the Commercial Law, which took effect on January 1, 2006 and includes eight articles dealing with franchising activities
10 Robert Lauterborn, “New Marketing Litany: 4Ps Passe; C-Words Take Over,” Advertising
Franchising began to gain traction in Vietnam during the 1990s with the entry of renowned foreign fast food and beverage brands such as Kentucky Fried Chicken, Dilmah, Lotteria, and Jollibee In recent years, franchising has expanded significantly, featuring a mix of local and international products and services Initially, the Vietnamese Government was skeptical about franchising and did not recognize it as a legitimate means of fostering commercial activity and investment However, this viewpoint has evolved as Vietnam observes the growth of franchise sectors in neighboring countries, acknowledging the potential of franchising to create jobs, attract investment, and introduce improved management practices and technology The adoption of the 2006 Commercial Law, along with Decree No 35/2006/ND-CP, marked a pivotal shift in the government's stance, officially legitimizing franchising services and promoting the development of the franchise sector in Vietnam.
Fast food franchises focus on high volume, low cost and fast expansion
CHAPTER 2: VIETNAM FAST FOOD MARKET AND
Vietnam fast food market review
Analyzing the market allows researchers to comprehend its structure, characteristics, and key competitors, while also identifying trends and prospects This process is essential for recognizing the relevant factors that influence the industry.
The fast food market analysis involves a comprehensive examination to uncover emerging trends and forecast the future of this economic sector, often focusing on specific regions or nations for detailed insights Experienced analysts from economics, politics, and the restaurant industry typically conduct this analysis It is frequently commissioned by governments, investors, and industry stakeholders to inform decisions regarding business strategies and policy developments.
The fast food market catering to office lunch hours is a specialized niche; however, while Vietmac initially concentrates on this segment, its management must also gain a comprehensive understanding of the broader fast food industry to ensure long-term success.
The article explores the historical development of the fast food industry, highlighting significant growth rates and pivotal events that have shaped it It examines various factors influencing industry expansion, including government regulations and major players in the market Additionally, the piece estimates the market size, analyzes recent sales trends, and identifies current operational and management practices It also discusses prevalent marketing strategies utilized within the fast food sector.
The article emphasizes the importance of discussing industry developments, news, and innovations while also providing insights into consumer market data Additionally, it highlights the analysis of competitor information to identify key players in the industry, their market share, and target demographics.
Finally, SWOT and Porter Five Force are generated
Vietnam fast food market analysis is generated as figure 6
Fast food, or Quick Service Restaurant (QSR), refers to meals that are prepared and served rapidly, typically using preheated or precooked ingredients This convenient food is often packaged for take-out or take-away, catering to customers seeking quick dining options The term "fast food" was officially recognized by Merriam-Webster in 1951, highlighting its significance in the culinary industry.
11 http://en.wikipedia.org/wiki/Fast_food
Outlets can vary from stands and kiosks without shelter or seating to fast food restaurants, commonly referred to as quick service restaurants Franchise operations within restaurant chains typically receive standardized food products delivered from centralized locations.
Historians generally agree that White Castle, established in 1916 on the west coast of the United States, was the first fast food chain However, the fast food industry truly gained momentum with the rise of McDonald's in the late 1940s and early 1950s This success inspired numerous entrepreneurs to replicate the successful business model, leading to the emergence of several major fast food chains over time.
In Vietnam, popular fast food chains include Pho 24, Wrap&Roll, Bánh xèo, and Kdo's; however, many people primarily associate fast food with Western brands like KFC, Lotteria, and Jollibee.
Major factors that affect to the growth of fast food industry such as fast food product and service, time of consumption, income, life styles, healthy and safety, population, urbanization…
A March 2009 AC Nielsen survey reveals that KFC leads the fast food market in Vietnam, operating 68 outlets across the country, including 20 in Ho Chi Minh City and nine in Hanoi Following KFC, Lotteria ranks second with 56 locations, comprising 15 in Ho Chi Minh City and three in Hanoi, while Jollibee holds third place with eight shops nationwide.
At the end of July, 2011, KFC has 100 stores, Lotteria has 87 stores
2.1.1.2 Some highlights in Vietnam fast food market:
12 John A Jakle, Keith A Sculle (2002) Fast Food: Roadside Restaurants in the Automobile Age
13 Talwar, Jennifer (2003) Fast Food, Fast Track: Immigrants, Big Business, and the American Dream
• Current value sales grow by 13% in 2009 to reach almost VND6.3 trillion Estimated to reach VND 9.2 trillion in 2014
• The number of fast food outlets reaches 7,000 in 2009, a 6% increase over
2008 Estimated to reach 8.3 outlets in 2014
• Through good business strategies, chained fast food’s popularity continues to increase despite the economic crisis
• Chained burger fast food records the fastest current value sales growth of 29% in 2009
In 2009, KFC Vietnam Co Ltd dominated the fragmented fast-food market with an 11% share of value sales By the end of 2011, the company expanded its presence to 105 stores, solidifying its position as the market leader.
• Over the forecast period, fast food sales are expected to grow by an 8% constant value CAGR
2.1.1.3 Vietnam Fast food market trends
In recent years, the fast food industry has undergone significant changes in pricing strategies, with many companies introducing economy menus and launching extensive promotional campaigns, making fast food a more budget-friendly option for consumers Alongside these price adjustments aimed at enhancing market penetration, fast food chains have increasingly focused on local taste preferences, adapting their menus accordingly For instance, Western-style fast food offerings, such as burgers and chicken, have either localized their food options or incorporated popular local dishes, like Vietnamese stewed pork, to better cater to regional tastes.
Fast food companies primarily operate under a chained business model, enabling efficient resource allocation and standardized management, which fosters the creation of effective strategies As a result, the fast food industry has shown resilience, remaining less impacted by economic downturns such as the 2008 crisis and the price surge in 2011 compared to other sectors.
In 2009, chained burger fast food experienced a remarkable 29% growth in current value sales, slightly surpassing chained chicken fast food Brands like Lotteria and Jollibee successfully attracted consumers by incorporating local dishes into their menus, significantly boosting their sales Meanwhile, KFC dominated the chained chicken fast food market, favored by Vietnamese customers due to the widespread use of chicken in many traditional dishes.
In 2009, chained chicken fast food experienced remarkable growth, with a 34% increase in the number of outlets, driven by the rising popularity and acceptance of chicken options among consumers This trend has enabled industry players to rapidly expand their reach, demonstrating that outlet expansion is a successful strategy Leading brands like KFC, which had 100 stores by July 2011, have strategically moved into newly developed cities and less competitive remote areas, capitalizing on opportunities beyond major urban centers.
Vietmac marketing review
Location: Nhan Hoa, Nhan Chinh, Ha Noi
Founder: Mr Ngo Trong Thanh
Major product: Vietmac rice burger (fast food product)
Slogan: Live Fast Eat Fresh
Other products: Dessert, Breakfast, drink, side order
As Mr Ngo Trong Thanh – founder of Vietmac, Combine western – fast food styles with Vietnamese tastes
According to Mr Nguyen Thanh Duong, COO of Vietmac, the Vietmac rice burger is a revolutionary new dish in Vietnam Each serving features two rice burgers filled with options of beef, chicken, or pork, accompanied by salad and soup These rice burgers are made from two bowls of pressed rice, maintaining the traditional form and flexibility of Vietnamese cuisine Initially roasted to enhance its adhesive quality, the Vietmac rice burger ensures a satisfying texture that remains intact while eating, avoiding any crumbliness.
“Vietmac serves at least four kinds of foods daily, menu changed daily to be sure that, foods will not repeat for two weeks” – Mr Duong COO added
Enjoying a Vietmac rice burger offers a unique twist on the classic hamburger, showcasing a distinct flavor that sets it apart from traditional Vietnamese cuisine This delightful fast food option allows you to savor a familiar eating experience while indulging in authentic Vietnamese tastes.
Vietmac desires to develop its chains and combine Vietnamese specialty food from villages
Figure 8 Vietmac Rice burger product
Each portion includes two pieces of compressed rice, beef or pork is clipped in the middle, a cup of salad and soup is added
Vietmac offers a diverse menu with at least four different food options each day, ensuring variety with no repeats within a two-week period To guarantee maximum safety, all meals are packaged using single-use wrapping paper.
VietMac, led by Chairman Mr Ngo Trong Thanh, emphasizes health and freshness with their slogan "Fresh Fast." The company prioritizes the sale of products that are beneficial to health and limits the use of fried items Their logo features a penguin, symbolizing their commitment to health and sustainability, as the South Pole is known for its minimal pollution, making it one of the healthiest places on Earth.
While Fresh Fast, VietMac always serves with Vietnamese cuisine, Vietmac rice burger is worthy to choose for lunch daily
VietMac rice burgers are crafted using only the finest fresh ingredients, with vegetables sourced daily from Xuan Loc farm, the largest fresh vegetable project in Hanoi, owned by Tonkin.
Supermarket fresh meat, certified by the standard authority, is free from additives and preservatives Processed within a single day using modern production lines, this meat ensures optimal freshness Notably, all packaging is uniquely designed for single use, employing environmentally friendly wrap paper These features collectively define the high standards of a fresh product.
Mr Duong, COO of VietMac
And most importantly, each portion is always cared by the hands, hearts and consciences of those skilled, responsible workers
Why, the name of VietMac
We had spent one month for choosing this name, Vietmac Vietmac means ‘Meal is Absolutely Convenient’, but, someone wrote a title ‘Vietmac – McDonald of Vietnam’ It is ok
Why, Rice burger – Cơm kẹp?
Mr Duong explains that the product originally named "rice burger" may not be easily understood by everyone After considering over ten alternative names such as "Cơm kẹp," "cơm ép," and "cơm nắm," they ultimately settled on "Cơm kẹp." This name reflects its similarity to a hamburger, but with rice replacing the traditional bread.
Penguin in South Pole means fresh You wish to live in an absolutely fresh place, let imagine you are this Penguin
A survey of 500 individuals, primarily Vietnamese women, revealed that many perceive fast food as unhealthy In response, Vietmac emphasizes the importance of freshness and healthiness in its offerings, encapsulated in the slogan "Live Fast, Eat Fresh." Vietmac redefines fast food to not only be quick but also fresh, ensuring a healthier dining experience.
Mr Nguyen Thanh Duong, CEO of Vietmac, highlights that the sector is experiencing an impressive annual growth rate of 26% Despite the convenience of fast food, it is often viewed negatively by Vietnamese consumers due to health concerns However, the lunch market in Vietnam presents a significant opportunity, particularly among office workers who seek fast, convenient, and healthy Vietnamese food options that are both clean and flavorful.
The annual fast food market for lunch in Hanoi is estimated to be around $73 million Of this total, $49.3 million (67.5%) is generated from dining out, while $23.7 million (32.5%) comes from delivery services.
Total lunch time market is estimated to reach 582.3 million us dollars
Vietmac's potential market share for lunch fast food in Hanoi is projected to reach $9.4 million annually, representing 12.84% of the total market However, the highest sales volume recorded by Vietmac was $42,400 in September 2011, which accounted for only 0.8% of Hanoi's lunch fast food market.
All detail about forecast is shown and caculated in Table 5 Hanoi fast food market sales forecast - lunch time meal
Table 5 Hanoi fast food market sales forecast - lunch time meal
HANOI FAST FOOD MARKET SALES FORECAST - LUNCH TIME MEAL
Hanoi population 2009 (General statistics office - GSO) a person 6,561,900
Population in working age (GS) b person 3,500,000
Percentage of people have jobs / total population (53% - GSO) c % 53%
Population has jobs (GSO) d person 3,484,369
Total potential customer (70% of working people working in center
Go home for lunch (18% - Survey) e1 person 439,030
Prepare in the morning, and take that portion to office (6% -
Take lunch at office by catering firm (25% - Survey) e3 portion 609,765
Go out for luch at the street-side food stalls (52% - Survey) e4 portion 1,268,310
Monthy average working days f day 22
1 Hanoi total Lunch meal market (both fast food and traditional
Lunch market volume (luch at office by catering and street-side only)[ (e3+e4)*f] 1.1 portion 40,566,416
Hanoi total lunch market Monthy (everage price:
Hanoi total luch market Annually [1.2* 12 months] 1.3 vnd 12,169,924,944,408 Annually luch market revenue (usd) [1.3/20.900] 1.4 usd 582,293,060
2 Hanoi Total fast food market forecast (Lunch time serving)
Customer willing to use fast food (70% lunch out and delivery)
Frequency of using lunch fast food (monthy - by survey) 2.2 times 3.63 Lunch time fast food market volume [2.1 * 2.2] 2.3 portion 4,772,188.16
Hanoi total fast food for lunch market share Monthy [2.3 * 2.4) 2.5 vnd 127,387,825,762 Hanoi total fast food for lunch market share Annually [2.5 * 12 months] 2.6 vnd 1,528,653,909,148
Total Annually Hanoi fast food market volume (in usd) 2.7 usd 73,141,335
Customer willing to use Vietmac or fast food (8% - survey by
Frequency of using lunch fast food (monthy - by survey) 3.2 times 3.63 Lunch time fast food market transactions [3.1 * 3.2] 3.3 trans 545,392.93
Spending each time (supposition) 3.4 vnd 30,000
Vietmac potential market share Monthy [3.3 * 3.4] 3.5 vnd 16,361,787,981 Vietmac potential market share Annually [3.5 * 12 months] 3.6 vnd 196,341,455,770
Annual volume (in usd) 3.7 usd 9,394,328
% of Vietmac potential / Hanoi total fast food for lunch market [3.6
% of Vietmac potential / Hanoi total lunch market [3.6 / 1.3]% 4.3 % 1.61%
% of Vietmac performance / Vietmac portential [4.1 / 3.5]% 4.4 % 6.11%
% of Vietmac performance / Hanoi total fast food for lunch market
Mr Duong expressed optimism about product sales through trials, noting a customer satisfaction index (CSI) ranging from 70% to 85% Based on this data, VietMac plans to introduce a new product line in Vietnam, targeting an acceptance rate of approximately 8% among consumers The company's specific goal is to achieve significant growth by the end of 2011.
40 to 60 franchise stores in Hanoi and expand to Ho Chi Minh city, Da Nang, Hai Phong and open about 5-10 franchisees in each key market
Fast food chains are increasingly targeting teenagers and families with children during dinner time While Western fast food often appeals to a broad audience, in Vietnam, it is viewed as a luxury option with higher expectations Additionally, fast food is typically consumed as snacks rather than for nutritional value However, VietMac aims to transform this perception, as stated by Mr Duong.
Specific objectives of Vietmac are to serve lunch for officers and businessmen
Vietmac has successfully sold and signed leases for six stores in prime locations, including the 15th floor of the FPT Building on Nguyen Phong Sac in Cau Giay, the 3rd floor of Grand Plaza at 117 Tran Duy Hung, the canteen of the Financial Institute, Parkson Trade Center in Chua Boc, Thai Ha, and The Garden Trade Center in My Dinh, Hanoi Additionally, negotiations are underway for six more office buildings.
2.2.2 Comparative advantages and marketing strategies
Create a new rice burger product that suite to almost Vietnamese customers
Customers seek nutritious, fresh, tasty, and convenient lunchtime meals, yet many existing options fall short of these expectations Vietmac's rice burger stands out by offering a unique combination of fresh, non-fried, low-fat rice, perfectly catering to the diverse needs of consumers This innovative product not only fulfills customer demands but also highlights Vietmac's key competitive advantages in the market.
Fresh, Vietnamese cuisine and Hygience
SURVEYS CONDUCTING AND FINDINGS
Surveys conducting
Vietnam fast food market survey
Identifying information necessary for the investigation is the most important tasks of the study Information must ensure useful, complete and accurate
Research into market dynamics encompasses various elements such as competition, consumer needs, habits, and satisfaction, as well as insights into the marketing mix and market structure This comprehensive approach enables researchers to gain a deeper understanding of the factors influencing the market and marketing activities, ultimately leading to more effective strategies.
For accurate information, requires construction methods to gather objective information, the author had made questions clear, non-sensitive, diverse respondents
This study categorizes the required information into nine distinct groups that represent various aspects of the market Detailed inquiries related to these groups will be addressed, with a comprehensive list of the necessary information and corresponding questions for the Vietnam fast food market provided in Appendix 1.
Vietmac has recently introduced its product to the market, resulting in limited awareness among consumers While general insights into the fast food market in Vietnam have been gathered, there is a lack of specific data on customer satisfaction regarding Vietmac's rice burger To address this gap, a targeted questionnaire was developed to assess customer satisfaction levels with Vietmac's offerings.
The author conducted a questionnaire targeting respondents who have previously used Vietmac rice burgers, gathering insights from customers at Vietmac points of sale and acquaintances, including employees from HSB and FPT For detailed information, please refer to Appendix 3, which contains the questionnaire designed to measure customer satisfaction with Vietmac products.
Customer target of Vietmac is officers, who are living and working in Hanoi This is target respondents too
The author utilized email and internet surveys as primary methods for data collection, ensuring a diverse range of respondents However, those who do not reside in Hanoi or hold an official position will be excluded from the final analysis to maintain the integrity of the target demographic.
Print questions were also used to get the responds from customers who had already used Vietmac rice burger
Website survey: Google documents utility was used to design questionnaires for internet surveys It was also used to analyze the data
Email and social network were techniques that the author used to massive promote questionnaires www.facebook.com was the major social network website used to distribute questionnaires
Print paper was used to ask respondents at Vietmac’ P.O.S, who had known and eaten Vietmac rice burger
Responds received: 300 responds matched with target respondent had been received from Vietnam fast food market survey and 100 responds from Vietmac satisfaction measurement survey
Microsoft office excels, SPSS software and Google documents are used to analyze data.
Vietnam fast food market findings
After collecting information, processing and analysing data, research findings will be presented in this session
3.2.1.1 Market players and most wanted brand name:
As survey, KFC is the most wanted with 45% respondent chosen, follow KFC, Lotteria is chosen by 21%, Pho 24 12%, and Jollibee with 4%
Besides five brand names listed by researcher, some other brand name people like are BBQ, Ga 99, Pepperonis, Pho Nam Dinh, Pho Viet Thong Thuong, Pizza Hut, Subway
Chart 1 Most wanted fast food brand name
3.2.1.2 Important factors influence people of choosing fast food brand:
To measure influential by factors, the author listed eight main factors and one customization factor, the factors are listed as Chart 2 Factors measurement
Percentage of brands chosen influences on chosing a brand and Table 7 Factors measurement influences on chosing a brand
Chart 2 Factors measurement influences on chosing a brand
Table 7 Factors measurement influences on chosing a brand
Note: respondents could sellect more than one choose, so that the percentage may exceed 100%
Taste and flavor are the primary factors influencing fast food choices, with 55% of consumers prioritizing these attributes over others Interestingly, while convenience is a key characteristic of fast food, many individuals consider it a given, leading them to focus more on taste Consequently, convenience and brand recognition rank as the second and third most important factors for consumers when selecting a fast food brand.
3.2.2 Customers’ need, habit and satisfaction measurement
According to Chart 3 on brand changing habits, consumers are more likely to switch brands rather than remain loyal Specifically, 28% of individuals report changing brands occasionally, while 12% do so frequently In contrast, 31% express indifference towards brand changes, and 21% change brands infrequently Additionally, 8% of respondents indicated that they rarely change brands.
3.2.2.2 Satisfaction on chosen brand by factors a Brand satisfaction measurement
A significant majority of individuals are pleased with their chosen brand names, with 59% expressing satisfaction and 8% indicating they are very satisfied Only 2% reported being unsatisfied, and none felt only slightly satisfied Overall, brands in the Vietnamese fast food market demonstrate strong customer awareness, particularly regarding nutrition, health, and safety satisfaction.
Chart 5 Nutrition, health and safety satisfaction measurement
Nutrition, health and safety satisfaction measurement
Nutrition, health, and safety alone do not fully satisfy individuals, as 52% of people report feeling average regarding these aspects There is a growing need for a deeper understanding of how taste and flavor satisfaction contribute to overall well-being.
Chart 6 Tasty and flavor satisfaction measurement
People are almost satisfied with tasty and flavor (41%) and 19% is very satisfied d Convenience satisfaction measurement
A recent survey reveals that 52% of respondents are satisfied with the convenience of fast food products, with 15% expressing high satisfaction Only a small fraction, 3%, reported dissatisfaction, and just 1% indicated minimal satisfaction This suggests that the majority of fast food brands effectively meet consumer expectations regarding convenience.
The flexibility of the menu appears to be a significant concern for customers, as only 5% reported feeling very satisfied with this aspect In contrast, 27% expressed satisfaction, while the majority, at 56%, felt neutral about their experience This indicates a need for improvement in menu offerings to enhance overall customer satisfaction.
A recent survey reveals that customer satisfaction regarding pricing is largely negative, with 5% expressing dissatisfaction and 22% feeling only slightly satisfied In contrast, only 6% reported being very satisfied, while 11% indicated general satisfaction The majority, at 56%, stated they feel neutral about pricing, highlighting a significant opportunity for improvement in this area.
Chart 10 Point of sale decoration satisfaction measurement
Almost people are satisfied with P.O.S décor
P.O.S decoration satisfaction h Service and staff behavior satisfaction measurement
Chart 11 Service and staff behaviour satisfaction
Service and staff behavior of fast food chains are good while 47% of satisfaction and 8% of very satisfaction
3.2.2.3 Satisfaction measurement in general within KFC, Jollibee and Vietmac
Chart 12 Satisfaction compare within KFC, Jollibee and Vietmac
Service and staff behaviour satisfaction
KFC, Jollibee, and Vietmac satisfaction (in general)
KFC emerged as the clear winner in terms of customer satisfaction, securing a significant 56% of the overall satisfaction level In comparison, Jollibee trailed behind with 17%, while Vietmac garnered a mere 6% Notably, KFC also led in the very satisfied category, accounting for 9% of the total, followed by Jollibee at 4% and Vietmac at 3%.
3.2.2.4 Time of meal (target market reference)
According to recent data, 65% of respondents reported consuming fast food during lunchtime, while 32% opted for it at dinner, and 13% chose it for breakfast The majority of those who selected fast food for lunch and dinner favored popular chains such as KFC, Lotteries, and Jollibee.
Time of meal Frequency Percentage
Note: respondents could select more than one choice, so that the percentage may exceed 100%
3.2.2.5 Place of meal (distribution reference)
People tend to eat at the P.O.S, 81% would like to eat in the atmosphere of the restaurant 39% would like to be served at office and 28% at home
Place of meal Frequency Percentage 100% convergent
Note: respondents could sellect more than one choose, so that the percentage may exceed 100%
3.2.2.6 Group people (target market reference)
As the result, 77% of interviewees said, they usually go with friends or colleagues for fast food meal, 40% go with family
Note: respondents could select more than one choose, so that the percentage may exceed 100%
3.2.2.7 Willing to use fast food (market opportunities reference)
A survey revealed that 39% of respondents expressed a willingness to choose fast food more often if it meets their needs, while 18% were certain they would increase their fast food consumption.
Table 11 Willing measurement to sellect fast food
3.2.3 Behavior of people about fast food products
While convenience is often associated with fast food, recent research involving 300 participants reveals that taste and flavor are actually the most important factors, accounting for 30% of responses Following closely is the nutrition factor at 29%, with convenience ranking third at 18%.
3.2.4 Behavior of people about price
The price range from 40.000đ – 60.000đ is best suitable, 61% people stated that, this range of price is suitable for a ration of fast food
Chart 14 Behaviour of people about price
Behaviour of people about price
Half of the respondents indicated that they are willing to accept a price increase of between 10,000 VND and 20,000 VND However, if the price rises by more than 20,000 VND, they are likely to seek out substitutes.
3.2.5 Behavior of people about advertising channel
According to recent findings, various advertising channels play a significant role in consumer awareness, with 61% of respondents frequently encountering ads online, 55% seeing them on television, and 51% appreciating word-of-mouth promotions Additionally, 50% of individuals expressed a preference for outdoor advertisements, highlighting the importance of utilizing multiple platforms for effective marketing strategies.
Note: respondents could select more than one choice, so that the percentage may exceed 100%
3.2.6 Behavior of people about distribution channel
Note: respondents could select more than one choice, so that the percentage may exceed 100%
POS Café Delivery as demand
The selected channels have been carefully chosen based on their high performance It is crucial to enhance both aspects; however, the company should prioritize sales at the point of sale (P.O.S) and ensure delivery aligns with customer demand.
A significant 34% of individuals consider fast food as a substitute for their main meals, while 76% view it as a source of relaxation, regardless of their ability to choose healthier options.
Table 12 Treatment of people with fast food
Treatment of people with fast food
Can replace the main meal 102 34%
Just for relax and changing of atmosphere 188 76%
As high and luxury meal 9 3%
For parties and meeting meal 78 26%
Note: respondents could select more than one choose, so that the percentage may exceed 100%
3.2.7.2 Potential of fast food market
As the survey, fast food market is wide open, it is demonstrated by 59% said that fast food market is potential and 14% said that fast food is very potential
Table 13 Fast food potential measurement
3.2.7.3 Frequency of fast food using
Vietmac satisfaction measurement
3.3.1 Satisfaction measurement comperation between Vietmac and KFC
In the scope of work, the author highlights a comparison between the Vietmac rice burger and leading fast-food chains, specifically selecting KFC for this analysis.
According to Chart 21, consumer satisfaction with the KFC brand significantly surpasses that of Vietmac, with 60% of respondents expressing satisfaction with KFC compared to only 36% for Vietmac Notably, 11.9% of participants reported being very satisfied with KFC, while Vietmac received no responses in the very satisfied category.
Chart 21 Brand satisfaction Vietmac V.s KFC
In a comparison of nutritional value, Vietmac outperformed KFC, with 60% of respondents expressing satisfaction with Vietmac's nutrition Additionally, 10% indicated they were very satisfied, while only 28.9% felt satisfied and 6.7% were very satisfied with KFC.
Normal Satisfactory Very satisfactoryBrand, origin, package Vietmac Brand, origin, package FKC
Chart 22 Nutrition satisfaction Vietmac V.s KFC
There are so few differences of tasty and flavor behavior between Vietmac and KFC Customers are both sat and 12% very satisfy with Vietmac rice burger.
Chart 23 Tasty & flavor Vietmac V.s KFC
A little satisfactory Nutrition, health and safety Vietmac
A little satisfactory Tasty and flavor Vietmac
Vietmac and KFC offer similar flavor profiles that satisfy customers, with 40% expressing satisfaction and 12% indicating they are very satisfied with Vietmac's rice burger.
Normal Satisfactory Very satisfactory Nutrition, health and safety Vietmac Nutrition, health and safety FKC
Normal Satisfactory Very satisfactory Tasty and flavor Vietmac Tasty and flavor FKC
There are so few differences of tasty and flavor behavior between Vietmac and isfied with two brands In that, 40% said they satisfy
Convenience is one big satisfaction of Vietmac when 66% said, they satisfy and 16% very satisfy with Vietmac rice burger
Chart 24 Convenience measurement Vietmac V.s KFC
Customer satisfaction with Vietmac's menu appears to be low, with 2% of respondents expressing dissatisfaction, 28% feeling only slightly satisfied, and 52% rating their experience as average Notably, no participants reported being very satisfied, while only 18% indicated they were satisfied In contrast, KFC's menu received a more positive response, with 32.6% of customers expressing satisfaction and 2.2% feeling very satisfied.
Normal Satisfactory Very satisfactory Time consumer and convenienc Vietmac
Time consumer and convenienc FKC
Chart 25 Menu satisfaction Vietmac V.s KFC
Contrary to menu satisfaction, customers are very satisfied with Vietmac while 42% said they satisfy and 28% very satisfy
KFC got a lower satisfaction of price, when 6.7% said they are not satisfied and only 2.2% said they very satisfy
Normal Satisfactory Very satisfactory Menu flexible Vietmac Menu flexible FKC
Normal Satisfactory Very satisfactoryPrice satisfaction Vietmac Price satisfaction FKC
Chart 26 Price satisfaction Vietmac V.s KFC
The décor of Vietmac P.O.S maybe not attractive when 70% said they have no impression with Vietmac décor KFC may have a better place and view when 50.4% said they satisfy
3.3.1.8 Service and staff behavior satisfaction
KFC outperforms Vietmac in service quality and staff behavior, with 46.7% of customers expressing satisfaction compared to only 36% for Vietmac Additionally, KFC boasts an 8.9% rate of very satisfied customers, while Vietmac has no customers reporting high satisfaction.
Normal Satisfactory Very satisfactoryP.O.S décor Vietmac P.O.S décor FKC
Chart 28 Service and staff behaviour Vietmac V.s KFC
Table 18 and Chart 29 illustrate Vietmac's satisfaction levels across various factors, highlighting both strengths and weaknesses Based on this data, the author identifies key strengths that Vietmac should continue to leverage, as well as areas needing improvement This analysis is visually represented in Figure 9, which outlines Vietmac's strengths and weaknesses.
Table 19 Vietmac Satisfaction by factors
Normal Satisfactory Very satisfactoryService and staff behavior Vietmac Service and staff behavior FKC
Factor Menu flexible Price satisfaction P.O.S décor Service and staff behavior
Chart 29 Vietmac satisfaction by factors
Time consumer and convenienc Menu flexible
Figure 9 Vietmac's strengths and weaknesses
Below are tables summary the respondents
Frequency Percent Valid Percent Cumulative
Valid Decide to chose FF 74 74.0 74.0 74.0
Other findings
A recent Nielsen survey on the Vietnamese fast food market revealed that over 70% of participants visit fast food establishments primarily due to their appealing atmosphere and quality service.
The regular customers of the fast food shops are high income earners 27% of those polled said they go to fast food shops once a week at least.
Most customers (61%) use fast food if they need quick meals, while 26% said they consider fast food as a snack between main meals.
84% said they will use fast food services in the next six months.
Research indicates that there is no significant difference in attitudes towards habits, satisfaction, and perceptions of fast food between males and females However, males tend to consume fast food more frequently than females Specifically, 31% of males report using fast food less than three times a month, while 50% use it 3-5 times, and 19% exceed five times monthly In contrast, 62% of females consume fast food under three times a month, 27% use it 3-5 times, and only 11% eat it more than five times monthly.
Over 30 years old (elder) compare with under 30 (younger)
Individuals over 30 prioritize nutrition, health, and safety more than those under 30 Research shows that 24% of older consumers consider nutritional factors when selecting brands, compared to only 19% of younger consumers.
The younger cares about convenience much more than the elder, 57% younger people chooses convenience factor compared with 34% of elder
A significant 79% of older adults typically opt for fast food during lunchtime, while 57% of younger individuals do the same However, younger people are more likely to choose fast food for dinner, with 41% indulging compared to just 16% of older adults.
It is interesting that, there are no difference behaviors of customer about price between customers classified by income.
Answering the research question
In this section all the questions of the ‘Research question’ are answered
• Is there a need for my product or service? A survey conducted by AC
A study by Nelsien revealed that over 70% of respondents enjoy fast food, with 59% perceiving the fast food market as having significant potential and 14% considering it very promising Additionally, 34% of participants believe fast food can serve as a daily main meal, while 76% choose it for relaxation and a change of atmosphere Euromonitor forecasts an impressive 18.9% CAGR in fast food sales volume from 2009 to 2014 Factors such as income, culture, habits, lunchtime availability, and broader economic elements like population growth, urbanization, and traffic further underscore the substantial potential of the fast food market in Vietnam.
• What is my target market? Who are the customers? Customer satisfaction?
Mr Nguyen Thanh Duong, COO of Vietmac, highlights that fast food chains in Vietnam primarily target teenagers and families with children during dinner He emphasizes the significant potential in the lunch time fast food market, aiming to cater to office workers who have an hour for lunch and fall within the mid-to-upper income bracket.
Current customers often seek fast food for relaxation, with Vietmac's Customer Satisfaction Index (CSI) ranging from 70% to 85% However, survey results indicate that only 59% of customers find the fast food market satisfactory, while 8% rate it as very satisfactory Among brands, KFC leads with a satisfaction rate of 56% and 9% of customers expressing very high satisfaction.
Customer satisfaction is influenced by several key factors: convenience ranks highest, with 52% of customers satisfied and 15% very satisfied, followed closely by brand name recognition at 59% satisfied and 8% very satisfied Service and staff behavior also play a role, with 47% satisfied and 8% very satisfied Conversely, customers express dissatisfaction regarding nutrition, health and safety, taste and flavor, and menu flexibility.
• What do customers expect from this type of product or service?
30% of respondents rated tasty and flavor is the most important factor, after that, 29% rated for nutrition and 18% rated for convenience factor
In response to widespread concerns about the nutritional inadequacies and obesity linked to fast food, Mr Duong stated, "We have developed a burger that is clean, hygienic, nutritious, and distinctly Vietnamese."
• What are customers willing to pay for this type of product or service?
According to a recent survey, 39% of respondents expressed their willingness to use fast food, while 18% stated they would definitely choose it if it met their needs Additionally, 34% of participants indicated that they consider fast food a suitable replacement for their main meals, and a significant 76% prefer fast food for relaxation purposes.
• What specific companies are servicing this market? Are they successful? Are there other companies servicing this market with a similar product? What is their market share?
Some brand name that penetrated Vietnam market such as KFC, Lotteria, Jollibee, BBQ, Pho 24, Vietmac… and almost of them are developing very well, market is potential
The main products of fast food market are: chicken fast food, burger fast food, bakery product fast food, Vietnam noodle
And KFC is now market leader with 11% market share in sales volume
• Is the market saturated or wide open? If so, why?
The fast food market presents significant opportunities, with 70% of individuals expressing a preference for fast food Additionally, 59% of consumers recognize its potential, while 14% rate it as highly promising Demographic and macroeconomic factors further highlight the market's potential for growth.
• What is the size of the market? Is it a growing market? Is the industry stable, volatile, growing or trendy?
Market size, and growing rate is shown in forecast sales in fast food by subsector: foodservice value 2011 – 2014 (Source: Euromonitor international, fast food Vietnam report)
Chained fast food 2.007,3 2.373,8 2.778,4 3.233,7 Independent fast food 5.505,8 5.712,5 5.868,7 5.970,8 Asian fast food 2.965,7 3.111,1 3.259,1 3.398,4 Bakery products fast food 227,5 242,3 256,8 271,0
Forecasts indicate that the fast food industry will experience significant growth across various subsectors, with a projected compound annual growth rate (CAGR) of 18.9% for chained fast food, 17.9% for burger fast food, and 19.9% for chicken fast food from 2009 to 2014.
Hanoi fast food market for lunch time is forecasted to reach 73 million us dollars annually (see also in Table 5 Hanoi fast food market sales forecast - lunch time meal)
• How can Vietmac reach the market?
- Flexible its menu, add more salads and soups (product improvement)
- Rapidly expand its chained of restaurants to attractive more customer in more locations (Distribution and Promotion improvement)
- Boosting sales by delivering as demand (Distribution improvement)
- Conducting adsvertisements in internet and outdoor (Promotion)
- As 76 percent like fast food because of relax purpose, so P.O.S décor should be prior to conduct (Brand building)
• How have competitors reached the market
- Almost competitors emloyed joint venture and franchising model to rapidly expand its chains
- Invest more in décor to attract more customers is chosen as one of marketing strategies
- Some players have localized its menu to satisfy customers
- In food industry, brand name is very important, this is competitive advantage of almost foreigner brand names
• What core competencies must the product or service have?
Research indicates that the three key factors influencing fast food product preferences are taste and flavor (30%), nutrition (29%), and convenience (18%) Additionally, brand name and menu flexibility are also important, each accounting for 7% of consumer considerations.
Almost brands have core competencies to fight others such as: brand equity, strong capital, good location, mass store, standardize, and business model
• What is Vietmac competitive advantage? Create a new rice burger product that suite to almost Vietnamese customers, Fresh and Vietnamese cuisine.
