role of research injury in choosing the right methodology. In addition, it presents the investigation questions, method, and style that can be used by researcher to analyze the research issue and carry on with his research study. The third portion of the daily news identifies two major attributes of group leaders that contribute to successful leadership and explains approaches that firm leaders can easily implement to produce these two qualities in their staff leaders to be able to achieve optimum performance. The paper as well explains some advantages and disadvantages of those leadership abilities or attributes.
Vietnam – The Economy, Promoting Landscape, and Brand Belief of Consumers
Marketplace and Macro-Economic Environment of Vietnam as well as Response to Globalization:
After the recent financial crisis hit the world markets, Vietnamese economy revived itself and became a market-oriented economic climate (Vietnam Hub for Economic and Policy Research, 2010). All its manufacturing, commercial, and transact sectors have experienced tremendous expansion during the last couple of years (CIA Truth Book, 2013). The Government used huge amount in global operate in order to attract investors from all the corners of the world (Heritage, 2013). Anticipating potential opportunities inside the Vietnamese markets, a large number of foreign brands coming from all types of sectors entered the and established their strong presence. These kinds of international brands are now supplying hard competition to the neighborhood Vietnamese brands and have become market market leaders in different groups; like foods, fashion, technology, etc .
The speed of inflation is quite substantial (18. 7%) in Vietnam which is adding hurdles in the form of local brands to be competitive profitably while using global brands which are fiscally well-off (Heritage, 2013). Due to this high rate of pumpiing, the local brands have to get smaller their profit margins in order to entice consumers through competitive pricing strategies and promotional offers. At the same time, these kinds of local brands have to focus on the quality and features of many in a perspective to compete with the global brands which are scientifically and operationally much better and advanced. These efforts from the local brands significantly increase their costs of operations which in turn further make the competitive environment stringent on their behalf.
The Vietnamese economy has become showing positive growth rate during the last few years. It has observed significant improvements in the true GDP development rate, commercial contribution to GDP, export products earnings, supplies of foreign exchange and rare metal (CIA Reality Book, 2013). However , the interest rate of lack of employment has increased when compared with the previous season which is not a good sign to get the economy (Vietnam Centre for Economic and Policy Analysis, 2010). As far as industrial expansion is concerned, the Vietnamese govt is strongly focusing on economical modernization in the country. Vietnam became the member of Universe Trade Organization in 3 years ago which caused it to be more attractive pertaining to the foreign direct investors to invest in this growing economy (Heritage, 2013).
Politically, Vietnam is known as a Communist express. The overall habit of the local government is quite confident towards foreign investors. The economic conditions are submiting favor of producing corporations. Nevertheless , the competitive environment is starting to become stiffer and even more challenging for people local producers due to the entrance of a large range of foreign brands in all types of industrial sectors. The social, cultural, and demographical patterns in the country range from area to area. There are high income groups in large towns of the nation whereas countryside areas will be more popular intended for agricultural contribution to the economic climate (CIA Truth Book, 2013).
c. Advertising Landscape:
The Vietnamese economy – comprising an fifth 89. 3 mil population has become a potential market for global brands. The GDP expansion rate from the country can be 5. 9% which is also a good sign intended for the foreign direct investors. Consequently , they use comprehensive advertising and promotional promotions to attract consumers to buy many and prefer all of them over all their local brands. These brands are making just about every effort to snatch the biggest portion of market share from the local Vietnamese brands and become even more competitive in operational and financial conditions.
The global brands are becoming a growing number of powerful with regards to financial performance, operational effectiveness, manufacturing functions, and global business network. Therefore , it is easier to allow them to establish their presence in different new target country as compared with local small-scale brands. In Vietnamese market, the functional strength and a well-established brand image of the global brands largely make them in getting quality-seeking consumers. On the other hand, community brands are less competitive with regards to operational efficiency and making capabilities which will become major hurdles whenever they intend to focus on the same group of customers.
All the local and international brands make an comprehensive use of distinct advertising and promotional mediums to create consciousness about their new products and encourage the existing items with various low cost offers (Atchariyachanvanich Okada, 2007). In addition to the price comparison, these brands emphasize on the quality and features of goods in order to convince customers to prefer their very own brands overall other brands. The main marketing means used by Japanese and global firms consist of electronic media (television and radio), produce media (newspapers, magazines, business publications, etc . ), in-store displays, social media networking sites, and the firms’ own websites. The most expensive mediums are television and magazines due to their extensive reach into a large target population in the country.
d. Manufacturer Perception of Local and Foreign Brands:
The “Theory of Buyer Behavior” offered by Howard Sheth (1969) states that brand belief is based on several factors which in turn ultimately impacts the customer’s buying patterns towards that brand. These kinds of factors contain quality, selling price, features, and convenient availability of that manufacturer. Rook Fisher (1995) think that brand belief by the consumers is largely dominated by a lot of psychological elements; such as company loyalty, needs, environment, etc . The customers prefer only individuals brands that may satisfy these psychological requirements. In case of competition between local and global brands in Vietnamese market, the research examine by Li, Kuo, Rusell (1999) can be applied. Consider that buyer behavior and brand awareness are mainly affected by the social, demographical, and ethnic factors.
The foreign brands that enter Japanese market highly emphasize about creating consciousness about their goods among supply chain members and clients. They use trade shows, advertising, promotional events, merchandise seminars, and point-of-sale promotions to attract buyers. These initiatives require heavy portion from the marketing spending budget which cannot be borne by small neighborhood manufacturers in Vietnam (Vietnam Centre for Economic and Policy Analysis, 2010). Therefore , they cannot work these types of campaigns to mold the brand belief and client behavior of the target market in support of their products (Shoham Brencic, 2003).
Part A: Qualitative and Quantitative Analysis
1 . Qualitative Research
a. Advantages:
The most important advantage of qualitative research is it gives a broader picture from the area being studied. When a researcher is usually confused or unsure regarding the area which in turn he must focus during his exploration, he can think in many sizes and reach a specific place using qualitative research strategies (Ghauri Gronhaug, 2005). Therefore , the specialist does not need to formulate a particular research style in order to begin his study (Cooper Schindler, 2013).
Qualitative research also allows the researcher to get huge data in the form of drafted material, discussions, photographs, audios, videos, etc . (Sandelowski Barroso, 2007). This kind of comprehensive number of data is advantageous when the specialist has to examine the judgment and considering patterns of individuals (Saunders, Lewis, Thornhill, 2009). In this way, qualitative research gives more effective brings about social and management savoir. Moreover, a researcher, pemandu, or interviewer gets more detailed responses via his participants in the qualitative research as a result of unstructured and open-ended queries (Rubin Babbie, 2011).
n. Challenges:
One of the main challenges in qualitative studies find out the grounded theory on which the researcher needs to base his overall research study. The research methodology and design is more difficult to develop in a qualitative analysis as compared to quantitative research (Rubin Babbie, 2011). The researcher-participant relationship likewise impacts the final results of a qualitative research study due to the possibility of dangerous of biasness in responses. In some cases, respondents hesitate expressing their opinions due to confidentiality and personal secureness reasons (Sandelowski Barroso, 2007). Moreover, a qualitative research is more confronted with procedural issues due to the researcher’s excessive use of subjective analysis instead of numerical data. Although a qualitative research is less expensive; but it is far more labor-intensive and time-consuming compared to a quantitative research (Saunders, Lewis, Thornhill, 2009).
2 . Quantitative Research
a. Advantages:
Unlike qualitative exploration, the quantitative research gives more accurate and reliable info to the investigator. In this type of research, the researcher can easily summarize, classify, and assess the accumulated data within a well-organized and systematic approach. For example , they can use distinct data analytical, mathematical, and statistical equipment and make use of tables and graphs to provide his data in a more to the point fashion (Ghauri Gronhaug, 2005). The data within a
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