contact lenses businesses in vietnam: an entire perspective
DESCRIPTION
Produced by Mr Bao Tran, Chief Marketing Officer, Cao Thang Eye Hospital, Vietnam. Email: [email protected]TRANSCRIPT
Date: April 3rd, 2013
ContactLenses market in VietnamA window of opportunity
Contact Lenses is LifestyleBelief #1
Belief #2
+It’s where DAVID meets DONALD
Belief #3
Win Customers’ heart,not their mind
Online Survey of 2156 contactlenses consumers by TIMBACSY.COM
the leading healthcare online resource in Vietnam
VIETNAMESE CONTACTLENSE market
Population: 90MUS$15M marketMarket penetration: 10%Growth: 22% per annum, 3 recent years
TARGETYoung, Educated & Urban
18 - 36 yrsIncome above US$500 per monthPresence in 5 major cities (60% in HCMC)Age profile is reducing over years
Insights
Two thirdsThe percentage who buy CL
from the advice of FRIENDS or FAMILY
78%The number of clients who buy CL from an
OPTICAL STORE
3 in 5the number of people who prefer the MONTHLY USE contact lenses
18 to 34The major age group of CL buyers, 87%
15%The percentage of CL clients who use B&L and would recommend to a friend
90%female
Strengths - Weaknesses - Opportunities - Threads
S W O T
APPEARANCE
CONVENIENCE
PATIENT Cost Care Pa2ent Educa2on Brand Preference
PRACTITIONER Less incen2ve
LIFESTYLE Young & Affluent Class JPop & KPop Social Network
ALTERNATIVES Spectacles Refrac2ve surgery
Obstacles
Spectacles Contact Lenses
ConsumersAffordability
No brand preference
Less risk
long run Cost
SPECIAL Care
Associated eye risks
Seller / Distributor 100% + 30%
SummaryContact Lenses Manufacturing
High-fixed cost
Low margin
Unless sellers enjoy a substantial pro!t margin on lenses sold, it is likely that they have lessincentive to pursue increment sales than do manufacturers.
ContactLenses cannot take off in Vietnam in the current status
Moving OnlineEstablish a strong message STAYCOOL
Emphasize on the focus of appearance
Embrace the power of Social Network
Enable a customized client database
Advantages Low start-‐up cost
Reachability over physical distance
Flexibility for clients
Consumer behavior tracking
Target audience (18-‐34 yrs)
Online model
Patient Education Product advice Care instruction
Online catalogue Product list User instruction
ORDER Prescription Info
COLLECTIVE MECHANISM By Delivery Pick & Pay By post
Customer Relationship Management
Personalized Service Loyalty Program Social Network
electronic eye record
Monitor refractive progression Recommend next purchase Advise next eye screening
Point redemption Special rate for next purchase Other eye care products Advanced Eye Screening
it is Transferable Valid in the entire channel
Facebook Word-Of-Mouth Testimonials CL Advocacy forum
ONLINE VS BRICK-AND-MORTAR
ONLINE BRICK-AND-MORTAR
Client Type Existing New
Product Experience Yes No
Brand Preference Yes No
Fitting Service No Yes
Competencies PriceLoyalty program
Expert ‘s AdviceHuman Touch
PRICING 15% LESS
CONCLUSIONCOMPLEMENTARY CHANNEL
OUR COMMITMENT (3 YRS) 30% MARKET SHARE of HCMC
THE LEADING PREFERRED CL BRAND
THANKYOU