Economic Crisis and Volkswagen Marketing in Asia - Literature review Example

Download file to see previous pages since the research study takes a case study approach of studying the impact of the economic downturn on Vietnam, the economic and business scenario in Vietnam and its automotive industry and the impact of the economic downturn would also be discussed here. It is important to know the business environment in Vietnam because for companies like Volkswagen which is willing to enter into the automotive industry of the country, it is necessary for them to assess all the environmental impacts that its business might have to face while establishing their business in Vietnam and make it sustainable for the future.

In addition to this, the oil consumption behavior in Vietnam would also be studied which is directly related to the economic development of Vietnam and its automotive industry. The oil consumption behavior and its associated trend can help us to gain insight into how Vietnam’s economy had been performing during the period of global economic meltdown and would also enable us to answer the research question as to whether the economic downturn had an adverse effect on the economic conditions of the country or not. The changing behavior of the consumers in the automotive industry and the existing competition in the market would also be discussed because it would help to gain insight into the changing marketing strategies followed by the organizations. The initial requirement in the formulation of any business strategy or marketing strategy of a company is to assess the consumer behavior in the particular region where the organization is trying to market its products.

Most of the business organizations today are market-oriented. Hence their first priority is to develop products in accordance with the specific needs and requirements of the customers so that it can best satisfy their expectation levels from having the product. Hence reviewing the literature for the changing consumer behavior related to the automotive industry worldwide and in Vietnam would serve as a precursor for assessing the needs and requirements of the automobiles consumers in Vietnam which could be further utilized to formulate an optimum marketing strategy by any companies like Volkswagen.

Some theories related to formulating marketing strategies in case of financial crisis situation have also been discussed which is directly related to the objective of this research study. The existing literature in alignment with the recent trend in marketing strategies followed by the business organizations would be reviewed and analyzed. This would help us to gain an understanding of the set of marketing strategy tools that could be utilized by companies like Volkswagen to formulate and implement an effective marketing strategy to sell its products in Vietnam and generate higher revenues and profits for the company owners and the shareholders. ...Download file to see next pages Read More