Political Environment and Prospects for International Marketing : A Case Study of Monsanto in Vietnam
Pham, Thach Thao (2018)
Pham, Thach Thao
Laurea-ammattikorkeakoulu
2018
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2018112217776
https://urn.fi/URN:NBN:fi:amk-2018112217776
Tiivistelmä
Monsanto is a biochemical and bioengineering company that suffers from many controversies surrounding its product category. In Vietnam, Monsanto has a history of involvement in a war that could warrant resentment and distrust towards the brand. The political environment of Vietnam for a long time has been in a rather conservatively collective state which is slow to change, with the government controlling many aspects of business conducts and all regulations in support of its development policy realization. Developing a biochemical business in Vietnam is a not only an international management quest, but also an entrepreneurship in a potentially unfriendly market. This thesis develops as a research project, investigating Monsanto‟s internal and external environment. The subject includes topics of brand equity, marketing communications, and social responsibility. The immediate goal of the thesis is reviewing the cause for Monsanto‟s Vietnam market resistance in long-term viability and recommending solutions for resolving the risks involving its reputation in the position of a stigmatised brand.
The research found that the market environment for Monsanto in Vietnam is changing under a multitude of effects including both constructive innovative forces and many problems of controversial nature. Both theoretical prediction of the Monsanto brand performance and consumer feedbacks at retail level of Vietnam‟s agrochemical market showed that the brand remains limited at lower stages of brand resonance. Other details in the primary research findings suggested that despite the social stigma and political pressure on controversial matters, the economic benefits offered by the Monsanto brand and still-limited product range enjoyed at least average performance compared to available agrochemical products in the retail market. Based on such findings, the thesis recommended a marketing mix that primarily focuses on developing brand equity with higher degrees of brand resonance based on competitive products, while maintaining CSR practices as complementary measures to overcome political and social controversies.
The research found that the market environment for Monsanto in Vietnam is changing under a multitude of effects including both constructive innovative forces and many problems of controversial nature. Both theoretical prediction of the Monsanto brand performance and consumer feedbacks at retail level of Vietnam‟s agrochemical market showed that the brand remains limited at lower stages of brand resonance. Other details in the primary research findings suggested that despite the social stigma and political pressure on controversial matters, the economic benefits offered by the Monsanto brand and still-limited product range enjoyed at least average performance compared to available agrochemical products in the retail market. Based on such findings, the thesis recommended a marketing mix that primarily focuses on developing brand equity with higher degrees of brand resonance based on competitive products, while maintaining CSR practices as complementary measures to overcome political and social controversies.