Product And Service Overview Of Biti's Hunter.pdf

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<b>TABLE OF CONTENT</b>

<b>I. INTRODUCTION...1</b>

<b>II. COMPETITOR AND CUSTOMER ANALYSIS...2</b>

<b>III. MARKETING STRATEGIES ANALYSIS...9</b>

<b>IV. CONCLUSION AND RECOMMENDATION...23</b>

<b>TABLE OF FIGURES</b>Figure : shoes companies revenues in stage 2016-20191 ...3

Figure : number of Nike stores from 2009 to 20182 ...4

Figure : Nike’s small brand organization chart3 ...4

Figure : Biti’s Hunter X4 ...10

Figure : Biti’s Hunter Street5 ...11

Figure : Biti’s channel on Lazada 6 ...13

Figure : Biti’s channel on Tiki7 ...13

Figure : Biti’s channel on Shoppe8 ...13

Figure : Bitis Hunter on Facebook9 ...15

Figure 10 : Bitis Hunter on Instagram...15

Figure 11 : Bitis Hunter official website...16

Figure 12 : KOL post (Phan Y Yen)...18

Figure 13 : KOL post (Hoang Le Giang)...19

Figure 14 : KOL post (Pho)...19

Figure 15 : “Lac troi” music video...19

Figure 16 : “Di de tro ve” music video...20

Figure 17 : Kenh14 article about “Di de tro ve” campaign...20

Figure 18 : Bitis Hunter post about “Di de tro ve” season 2...21

Figure 19 : Bitis Hunter announced about the sharing contest...22

Figure 20 : Media effect statistics table of “di de tro ve” season 1...22

Figure 21 : Top 10 outstanding campaigns on social media in 1/2018...23

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<b>I. INTRODUCTION</b>

One of the famous and most durable shoe brands in Vietnam must definitely call the name Bitis. Inprevious years, with its persistence in quality, Bitis only hit a certain age group, namely the middleage, and was sought after by them. But instead, in recent years, the trend of changing to the middleage to put bitis first has gradually faded, and this has caused Bitis's revenue to gradually decrease. Asa result, in 2016, they began to change; by catching the trend, Bitis took a step back and looked atitself and gave birth to its sub-brand, Bitis Hunter. Innovating beyond the old feature of beingdurable, but also adding unique designs to attract young people, aiming at the particular target ofcustomers, Bitis has gradually reasserted its position in the industry - the top of mind brand in theVietnam market.

<b>MARKET TREND AND OVERVIEW</b>

Known as the first child of a dynamic father, Biti's - A famous shoe brand that has overcome manydifficulties to make their own brand. Biti's Hunter with a new look, keeps your feet soft with coolfabric without fear of hot feet, confidently wins every game. And the main reason that Biti's Hunterreaches customers is the marketing strategy, which is an extremely important tool for not only Biti'sbut also other brands to achieve great success. But importantly, each brand will know how to hit thepsychology and needs of customers. Nowadays, the shoe market in Vietnam is increasing day by day,and the need to "wear well and wear durable" gradually becomes a big thought of many people,especially the number of young people in Vietnam. Not only beautiful but also durable and suitablefor the price. Understanding that need, the shoe market in Vietnam is increasingly improving productquality and constantly competing with each other to be able to produce products that meet the currentneeds of customers. Realizing the importance of shoe quality, famous brands in Vietnam competestrongly with each other. Following that wave, Biti's Hunter has launched product lines that makeshoe hunters stand still.

<b>COMPANY VIEW</b>

Biti's was originally a small establishment with a mere 20 workers. But anyone, any organization hasdifficulties, but it is important that we know how to try and achieve achievements but produce thelatest products as well as the quality that is most pleasing to customers. Therefore, by determination,hard work, with high will and effort, right market analysis strategy, the target customers of biti'sHunter have helped this brand grow stronger and stronger, overcome difficulty, get out of yourcomfort zone to assert yourself. After 40 years of building the brand, the continuous release of aseries of new products is what Biti's has been doing to make the brand more and more developed. Asmentioned above, not only beautiful in design, Biti's focuses on quality as the main reason for theirproducts to lead in today's market. With the leadership of the Vietnamese shoe brand. Today's

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achievements are due to the efforts of all employees and effective leadership strategies. ( Icheck,2022)

<b>PRODUCT AND SERVICE OVERVIEW</b>

Before the launch of Biti's Hunter, this brand was said to only belong to the middle age, not creativeand disruptive because the customers who buy sports shoes in the current market are young people,but young people. is passionate about breaking the way and wants to assert himself. Aware of its ownweaknesses, Biti's has thought and implemented a new strategy to launch product lines that aremainly aimed at young people, but have their own characteristics of Biti's, focusing on segmentation.The "sport inspired" popular shoe segment accounts take up most of the demand. With the mission of"quality goes hand in hand with customer's experience", lightweight shoes like flying will alwaysaccompany young people who are always confident, discover and experience new things. Thisproduct line with a disruptive design, creating a distinctive feature to make up the brand of Biti's,equipped with the most advanced technologies, serves as a strong inspiration for the experience ofbeing yourself. For young people who like individuality and innovation. On the other hand, with ayouthful and dynamic design, it also contributes to young people experiencing inconvenience toexplore and expand their safe zone and assert themselves. ( Biti’s - cherish Vietnamese feet )

<b>I. COMPETITOR AND CUSTOMER ANALYSISCOMPETITOR ANALYSIS</b>

First of all, <b>international well-known brands</b> such as Nike, Adidas, Vans, Converse, etc. are themain competitors of Bitis ( Because it is the top leader in the Vietnam shoes market). They aresummarized with some outstanding traits: high prices, rich diversity in models, trendiness, high-quality and special designs, well-established companies all over the world.

Secondly, domestic labels must be considered as the ability to understand and compete in the same

<b>market with Biti’s, such as Hoang Phuc, Ananas, Vina shoes, Juno,...etc.</b>

Finally, products with little names or fake goods - imitation goods, do not guarantee the designquality. They are considered as the unofficial competitors, especially in Vietnam.

<b>Comparision in market share</b>

According to Lefaso, in 2019, Vietnam exported over 1.2 billion pairs of footwear of all kinds with aturnover of 18 billion USD, but we still have to import over 100 million pairs, worth nearly 1 billionUSD, accounting for nearly 1 billion USD. 60% of domestic demand (Lefaso, 2020)

To compare the market share, looking at the chart, it can seen that Biti's is currently still the marketleader with a steady increase in net revenue from more than 2500 billion VND to nearly 4000 billionVND during the period 2016-2019, with followed by other international and domestic brands such asAdidas, Nike, Juno, Bita's,...

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<b>Analysis of international Bitis’s competitors-NikePrestige Available: GLOBAL famous BRAND</b>

Nike is considered one of the strongest global brands worldwide.A brand that accounts for 62% ofthe global market share, present in 170 countries is valued at approximately $29.6 billion and is themost valuable brand in the consumer goods business sport.(Thuy Trang,2022)

Brands promoted by celebrities and sports professionals Nike's prestige is also reflected in the imageof a series of sports stars using and trusting its products such as: Michael Jordan, Cristiano Aonaldoor big teams that have cooperated such as Liverpool, Barcelona, Chelsea or even national teams.Because of that, the reputation of the brand is increasingly enhanced and has a deep impression onpeople

<b>Global presence and influence</b>

In recent data, the number of Nike retail stores worldwide is more than 1182, thereby blacking thehands of consumers around the world (Bích Ngọc, 2020).

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<b>BITIS: Biti's has been introduced abroad but it is only famous in Vietnam.However, when compared</b>

to Nike, Nike is far superior in terms of prestige and awareness in the market school. Not only in theVietnamese market, the brand's coverage is nationwide demand, and is a brand of real caliber

<b> Product Strategies</b>

<b>Product innovation, variety of models</b>

In a competitive world, innovation is the determining factor of sustainability. And Nike has alwaysbeen successful and is considered as one of the pioneers in introducing different unique products,both to meet customer needs and to help meet product plans:

<b>2014: Launch of the Nike Vapor Untouchable (Bich Ngoc, 2020)</b>

<b>2015: Create a revolution by introducing the Nike FlyEase. (Bich Ngoc, 2020)</b>

<b>2017: Launch of "Space Jam" Air jordan 11 marks the most successful launch in history.</b>

With Golf: Nike Golf

Basketball: Nike Zoom Freak, Nike LeBron, Nike Kyrie,..Run: Nike Running

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Prominent product lines include Nike Golf, Nike Pro, Nike, Air Jordan, Nike Blazers, Air Force 1,Nike Dunk, Air Max, Foamposite, Nike Skateboarding, Nike CR7.. and many other product lines.smaller products that we could probably say "not even a day". (Thuy Trang, 2022)

<b>Product quality</b>

By using many technological factors, it can create a breakthrough and comfort for users .

Nike successfully applies advanced tools to produce the best quality products. As a result, feedbackfrom customers with products is always appreciated, comfortable walking and good durability.

<b>Place StrategiesDistribution system</b>

It can easily be seen that Nike products are sold at Nike stores, authorized stores, but e-commercesites, sellers, and Nike retailers create many forms for sellers to easily shop. In Vietnam, the Nikechain of stores stretches across the province:

In Hanoi, there are 16 Nike stores located in many cities in the commercial center: NikeVincom Ba Trieu, Nike Trang Tien Plaza, Nike Hang Bong, Nike Lotte Center (admin,2022)In Ho Chi Minh city, there are 21 stores present, the number is expected to increase evenmore. In addition, Nike is present throughout the province from North to South, such as: HaiPhong, Binh Duong, Da Nang, Can Tho. , Nha Trang, Ca Mau (kinh doanh thong minh,2022)Nike mostly chooses "prime" places such as in Hai Ba Trung city, willow Giai, famous commercialcenters Vincom, Trang Tien plaza, Landmark 81. Shops with medium size right or large to easilyattract and leave an impression.( admin & kinh doanh thong minh,2022)

In terms of price, Nike fluctuates a lot based on different product lines and other uses. However,compared with other international brands Puma, New Balance, Nike is said to have a higher price. Sowhen compared with Bitis we clearly see the difference.

Although Nike owns many outstanding points, Biti's Hunter has a relatively soft bar price, rangingfrom 400,000 VND to 650,000 VND depending on the style and color. In the category of famousbrand sneakers such as: Adidas, Puma, Converse, .. with prices from millions of dong to Biti's,customers only need to spend about ¼ to own a pair of "standard" sports shoes.

<b>Promotion</b>

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Implements a variety of mixed media advertising strategies with huge amounts of money such asusing celebrity images on product items, advertising in magazines and across social networkssurpassing Google, Instagram or Pinterest. So Nike mixed advertising with a lot of money spent. Andalso sponsorship in world cups or euros.

Biti's is not so because of the limited amount of money, since Nike started in the past, Biti's can onlylearn about using celebrity images to advertise its shoe brand such as using famous singer Son TungMTP to advertise newly launched shoes. Or use social media ads in moderate quantities and havetheir own limits in time.

<b>Analysis of Ananas marketing strategyProduct</b>

Ananas has a lot of advantages in terms of "design", as it chooses to sell products that are mostlyyoung people, so it always attracts customers with young, dynamic devices and fancy color schemes,the material is fabric and multi-style suede is mostly classic items but modern style. But Ananasdoesn't have the rich line of models as Nike or Biti's, most of which are limited, so it's easy to getbored.

In terms of price, Biti's and Ananas are not so different. The product thunderstorms of these twobrands range in price from 300,000 to 900,000 VND depending on the design, style and qualitycommensurate with the price. Biti's costs a little more than it does.

Due to being a "rookie", Ananas' store system and distribution channel are always behind othercompetitors. Currently, Ananas only has a system of goods in Ho Chi Minh City.But in return thestores Ananas owns are concentrated in the city center, which is densely populated.

<b>Promotion </b>

Ananas only advertises on social media as on the store's website when new products are released.

<b>CUSTOMER ANALYSISSegmentations</b>

According to Philip Kotler and Gary Armstrong ‘buyers in any market differ in their wants,resources, locations, buying attitudes, and buying practices’ (Philip Kotler and Gary Armstrong,2021, p205). Segmentation is the method that helps companies divide markets into various segmentsto match their products or services. In the case of Bitis, this element has helped them break the neckof the slowdown stages and move towards the new era which is vibrant and potential.

In detail, identifying market segmentation will bring several benefits to businesses, including:

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<b>Have a competitive advantage</b>

Understanding customers by zoning market segments will help businesses to produce anddevelop better quality products that match customers' needs as well as provide effectivesolutions for their problems. Besides, when what customers want and need is known, thecustomer's demand can be met exactly. This distinct value and message create the connectionbetween the brand and the customer more lasting and stronger.

<b>Build a good relationship with customers</b>

When determining market segments, businesses can send the messages and content ofmarketing campaigns in the most appropriate method to the needs of customers, therebyhelping businesses attract customers more effectively and efficiently, and persuade them tochoose the product/service that the business provides instead of the competitor'sproduct/service. Businesses can differentiate their brand by focusing on the specific needsand characteristics of customers in each specific market segment.

<b>Develop effective marketing strategies</b>

The right market segment is the root of understanding customers, capturing the behavior,psychology as well as buying trends in their purchasing process. Therefore, this suitablechoice can build effective marketing strategies, successfully attract customers and increaserevenue and customer loyalty as well.

Identifying different types of market segments will also help marketing strategies work moreeffectively. When businesses know who they would like to target, they will be able to easilydeploy the best measures to reach them.

In Biti’s case, at the stages that Biti's Hunter has not been released yet, although it wasconsidered to have high brand awareness in the industry, people think that Biti’s wasoutdated, lacking freshness and dynamism. Therefore, it is still labeled as "parent's brand",focusing only on customers over the age of 30, with a middle income, with fairly simpleneeds for footwear (Tomorrow Marketer, 2020). Besides, Biti's customer group approach islimited at major domestic city markets. Overall, the segment that Biti's pursues is quitegeneral, not specific, and challenging to rapidly develop or upsize the market. As a result, theinnovation from subdividing customer segments and creating sub-brands serving each ofthose segments have brought the new flow for their development . And Biti's Hunter is aniconic example of that. The segment they are targeting has been more detailed and specific:they are from 17 to 25 years old, young, dynamic, creative, moving towards sporty designs(not specialized shoes), fashionable, trendy, versatile and high quality (Tomorrow marketer,2020). Although in this segment, there have also been well-established brands such as Adidasand Nike, but the price is still high, it is difficult to popularize among young people, and thisupper market has become a great target of the company. According to many evaluations, thissegment has had a very fast growth rate in Vietnam and accounts for about 70% of thedemand of the popular shoe niche (Tomorrow marketer, 2020).

On the whole, Biti’s Hunter divides market into according to:

<b>Demographic, Psychographic and Behavioral:</b>

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17-25 years old: the most potential, dynamic, would like to move, to try new things, havemoderate to upper income.

26 - 40 years old: more stable, have a favor in comfortable items, have moderate to upperincome.

40 and over: simple designs, suitable for their purpose of use, have moderate to upper income.

<b>Differentiation and positioning strategies</b>

To make a difference with many sports shoes brands already on the market, Biti's Hunter hasbuilt itself as a "go and experience" brand (Bitis, 2022), with many breakthroughs in bothstyle design and quality. By a solid foundation that has been a well-known brand for qualityin the minds of customers for many generations with the slogan ‘craising Vietnamese feet’;Biti's Hunter is the brand following in original footsteps and bringing fresh and energeticflow of young generation.

For Biti's Hunter, design is a distinctive feature that helps the brand stand out. With theappearance of two main lines:

<b>Biti's Hunter X: high-end product line, with trendy, innovative design with its own style and</b>

imprint of youth (Biti's, 2022)

<b>Biti's Hunter Core: the flagship product line, with a youthful and dynamic design, opening</b>

an inspiring story about trips to explore and expand the world (Biti's, 2022)

It can be said that the design of Biti's Hunter is a combination of modernity and endlessinspiration from Vietnamese culture and lifestyle.

Besides, product quality is also an outstanding advantage that Biti's has built for a long time.With a wealth of experience in the shoe industry, Biti's Hunter owns the most advancedtextile technologies and uses raw materials that are carefully selected and classified.From the differentiation in products, Biti's Hunter gradually positions itself in a private placeby smart and unique brand positioning campaigns. Combining with a mid-range pricestrategy and quality (product strategy), Biti's Hunter has built itself as a brand of the new

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generation of Vietnamese, inheriting traditional spiritual values and the dream ofexploring.That's how the slogan "go and experience" was born. In addition, they also realizethe value of digital media, to carry out appropriate and promotional campaigns to reach closerto their target customers. The most iconic example for this positioning strategy that we haveto mention is the endorsement with Soobin Hoang Son in the Music Video “Di de tro ve”(Tomorrow Marketer, 2020), with the valuable message to the young: human life are longtrips to explore, adventure, but behind them are always family and friends.

Based on the above analysis, it is clear that Biti's Hunter has positioned itself as a mid-rangebrand, with quality products and diverse designs but still carries with it special insights: thecombination of traditional spirit and personality of young people-uniqueness, dynamism, witha love of exploring.

<b>II. MARKETING STRATEGIES ANALYSISPRODUCT STRATEGIES</b>

Biti's products have long been famous for their high quality and durability, often used for 3-5 years.The products are also diverse and suitable for the needs of all ages.

For the tastes of customers, fashion, quality and reasonable prices are what customers want to findfrom footwear brands. and this is also what the Bitis Hunter is trying to achieve. Bitis is alwaysinterested in the tastes of customers, recognizing their wants and needs through surveys andexplorations in each area. From there, it brings those ideas to products, improves and launches manynew and trendy products according to the diverse needs of customers.

Biti’s always explores and constantly improves, launching new products to meet the needs ofcustomers. including biti's hunter.

The brand launched biti's hunter product line focusing on the popular "sport inspired" shoe niche,accounting for about 70% of the demand, not specialized sports shoes (only about 20%), the productfocuses on the segment. The age group of 18-24 is the young generation who loves to explore andconstantly conquers new experiences. (the tomorrow marketers, 2020)

Bitis Hunter products launched in 2016 have versatile features such as: light weight of only 225g - isone of the lightest shoe products available today, soft soles, durable and trendy fabrics. (thetomorrow marketers, 2020)

In addition, understanding the psychology of young people who are not afraid to express their ownpersonality, Bitis hunter constantly produces new, stylish and novel shoe models.

Especially, the high-quality Biti's Hunter X shoes, Biti's Hunter Street with simple design, easy tocoordinate.

<b>Design and materialsBiti’s hunter X:</b>

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