Product Analysis of Khind Rice Cooker
1.0 Executive Summary
Operating in today’s business would has become more challenging, especially in international context. As the world never stops changing, the world’s economic trends continue to shift to. The Khind successful stories in Malaysia make Khind have an intention to internalize the business. Khind has foreseen the market potential of Vietnam market and expand its business in Hanoi.
To make the investment more effectively, KHIND did further research and analysis on the host country (Vietnam) in obtaining information before marketing the ANSHIN rice cooker to the country. Furthermore, further studies on the competitors were done to have a better understanding on ways to compete with the competitors.
The inner pot of the rice cooker is made stainless steel which is believe to be new in the market in Vietnam, as most of the inner pot of rice cooker available in Vietnam are not made stainless steel and may cause some health issues. Moreover, the place that KHIND will first market its product will be in Vietnam’s capital city which is Hanoi. The rice cooker will be marketed to the two major hypermarkets in Hanoi. The recommended retail price will be $181.50. Several promotion tools such as advertising and even education programs are conducted to help improve the sales of the rice cooker. There were also a small of commission given to the retailers.
Lastly, several ways of controls are to be implemented in order to measure and monitor the action programs. KHIND has to make sure that the action programs are implemented effectively, so that money is allocated efficiently on to the action programs.
1.1 Corporate Background
Back in 1961, Cheng King Fa started a modest business in Sekinchan trading electrical goods. Driven by his clear vision, the business flourished and in the late seventies, developed to include the manufacture of electrical accessories and lamps. The next decade witnessed KHIND's increasing venture into the increase
Operating in today’s business would has become more challenging, especially in international context. As the world never stops changing, the world’s economic trends continue to shift to. The Khind successful stories in Malaysia make Khind have an intention to internalize the business. Khind has foreseen the market potential of Vietnam market and expand its business in Hanoi.
To make the investment more effectively, KHIND did further research and analysis on the host country (Vietnam) in obtaining information before marketing the ANSHIN rice cooker to the country. Furthermore, further studies on the competitors were done to have a better understanding on ways to compete with the competitors.
The inner pot of the rice cooker is made stainless steel which is believe to be new in the market in Vietnam, as most of the inner pot of rice cooker available in Vietnam are not made stainless steel and may cause some health issues. Moreover, the place that KHIND will first market its product will be in Vietnam’s capital city which is Hanoi. The rice cooker will be marketed to the two major hypermarkets in Hanoi. The recommended retail price will be $181.50. Several promotion tools such as advertising and even education programs are conducted to help improve the sales of the rice cooker. There were also a small of commission given to the retailers.
Lastly, several ways of controls are to be implemented in order to measure and monitor the action programs. KHIND has to make sure that the action programs are implemented effectively, so that money is allocated efficiently on to the action programs.
1.1 Corporate Background
Back in 1961, Cheng King Fa started a modest business in Sekinchan trading electrical goods. Driven by his clear vision, the business flourished and in the late seventies, developed to include the manufacture of electrical accessories and lamps. The next decade witnessed KHIND's increasing venture into the increase