Multinational Companies’ Marketing in Vietnam

Expansion Opportunity

Entering the Vietnam market was a rather controversial decision due to the presence of the factors such as corruption and bureaucracy. However, the opportunities that an educated workforce and comparatively low production costs opened for MNC in the economic setting of the Vietnam market made the specified endeavor worthwhile (Arnold and Quelch 1-2). With a well-developed resource management strategy and a proper understanding of the political, cultural, socioeconomic, and technological forces that defined its success in Vietnam, MNC had a standing chance to expand into the specified market (Arnold and Quelch 2-3).

We will write a
custom essay
specifically for you

for only $16.05 $11/page
308 certified writers online
Learn More

MNC Entering Vietnam

For each MNC, the conditions of entering the Vietnam market are different. As a rule, several modes of entry are considered, including exporting, franchising, licensing, joint venture, and direct investment (Mehta et al. 638). Exporting implies the need to maintain communication between a range of stakeholders, which makes it suitable for sports-related businesses. Licensing requires a comparatively small number of investments (Arnold and Quelch 6). Therefore, the specified type of expansion also seems legitimate for sports. Franchising suggests branching out to semi-independent businesses, thus giving them more independence in decision-making. Consequently, franchising can be used as a tool for expanding the children-related business. As for the chemical business, direct investment, which allows for higher control over key processes, is advised (Arnold and Quelch 7).

MNC’s Success Factors in Vietnam

The success of MNC in Vietnam is determined by several factors. Political circumstances will define whether the organization will be allowed to implement essential business-related transactions (Robbins and Judge 71; Levitt 98). For example, the issue of bureaucracy will need to be addressed for the corporation to function in the identified setting (Arnold and Quelch 1) Socioeconomic issues will provide an insight into the lives of the target population and help to create an appealing brand image. Technological aspects of the firm’s functioning will give MNC a chance to make its products and services recognizable and well-known. Finally, an analysis of financial factors will make MNC design a comprehensive risk management strategy (Arnold and Quelch 5).

Works Cited

Arnold, David J., and John A. Quelch. “Vietnam: Market Entry Decisions.” Harvard Business Review, 1996, pp. 2-14.

Levitt, Theodore. “Globalization of Markets.” Harvard Business Review, 1983, pp. 92-102.

Mehta, Rajiv, et al. “Leadership and Cooperation in Marketing Channels: A Comparative Empirical Analysis of the U.S., Finland, and Poland.” International Marketing Review, vol. 18, no. 6, 2001, pp. 633-666.

Robbins, Stephen P., and Timothy A. Judge. Organizational Behavior. 16th ed. Pearson Higher Education AU, 2014. VitalSource Bookshelf E-book, Web.

Get your
100% original paper
on any topic

done in as little as
3 hours
Learn More
Print Сite this

Cite this paper

Select style

Reference

StudyCorgi. (2021, June 30). Multinational Companies' Marketing in Vietnam. Retrieved from https://studycorgi.com/multinational-companies-marketing-in-vietnam/

Work Cited

"Multinational Companies' Marketing in Vietnam." StudyCorgi, 30 June 2021, studycorgi.com/multinational-companies-marketing-in-vietnam/.

1. StudyCorgi. "Multinational Companies' Marketing in Vietnam." June 30, 2021. https://studycorgi.com/multinational-companies-marketing-in-vietnam/.


Bibliography


StudyCorgi. "Multinational Companies' Marketing in Vietnam." June 30, 2021. https://studycorgi.com/multinational-companies-marketing-in-vietnam/.

References

StudyCorgi. 2021. "Multinational Companies' Marketing in Vietnam." June 30, 2021. https://studycorgi.com/multinational-companies-marketing-in-vietnam/.

References

StudyCorgi. (2021) 'Multinational Companies' Marketing in Vietnam'. 30 June.

Copy to clipboard

This paper was written and submitted to our database by a student to assist your with your own studies. You are free to use it to write your own assignment, however you must reference it properly.

If you are the original creator of this paper and no longer wish to have it published on StudyCorgi, request the removal.

Psst... Stuck with your
assignment? 😱
Susan
Online
Psst... Stuck with your assignment? 😱
Do you need an essay to be done?
Yes
What type of assignment 📝 do you need?
Yes
How many pages (words) do you need? Let's see if we can help you!
Yes