But there is also a need to understand the market more closely prior to entry. We know that Vietnam has a large population of 95 million, that 2/3 of the people live in rural areas, that the country has a low, but growing GDP per capita (CIA World Factbook, 2016). These figures are not bad, but neither do they make a case for Vietnam as the best choice of investment.
Vietnam's business environment is generally poor. The country is run by a Communist government, which exerts strong control over business. This is particular true in the education sector, where in 2012 Decree 73 was passed, placing strict rules for foreign educational institutions operating in Vietnam. The minimum investment is set at $15million USD, and there is a minimum cost per student of $7,500 USD. This places a cap on the size of the market. Furthermore, the venture has to include content developed by Vietnamese educational institutions, which is sort of counter to the point of getting an EMBA from a western school, and therefore lowers the attractiveness of the product There are stipulations with respect to teacher-student ratio as well (ICEF, 2012)
While entrepreneurism is high in Vietnam, bureaucracy is also high. Corruption is a major issue, and Vietnam ranks 112th out of 168 countries on the corruption perceptions index (Transparency International, 2016). The government has, however, made significant investments in its education system in recent years, leading to decent scores on international evaluations (The Economist, 2013), though there remains concern about the high dropout rate. This investment in education provides a decent baseline level of knowledge, which makes Vietnamese students who enter EMBA programs in their 20s and 30s better-equipped to succeed, having already established literacy and numeracy.
There is also the issue of gender in terms of the market. In general, EMBA programs are valuable for women, who perform well in these programs in terms of expected outcomes of broadened perspectives and cognitive flexibility (Hilgert, 1998). Female entrepreneurship is viewed as a pathway to economic growth, unlocking the abilities of 50% of the population that in many cultures ends up shut off from economic opportunity (Kobeissi, 2010). Female entrepreneurs have been identified as important to economic growth in Vietnam specifically (Gerrard, Schoch & Cunningham, 2007). There is definitely a market for female participation in the EMBA program, though in a country where female entrepreneurs are still expected to play traditional roles in the home, it is worth studying what accommodations need to be made in order to effectively target this market.
In marketing, consideration needs to be paid to psychographics. Swierczek and Thai (2003) conducted a study of Vietnamese SME owners and found that they were primarily motivated by achievement and challenge, rather than by the necessity for a career or by economic security. Tapping into these motivations is going to be critical to successfully marketing this program to Vietnamese entrepreneurs and managers.
As for reaching the market, it is worth noting that in the two major cities that drive Vietnam's economy -- the capital Hanoi and the largest city Saigon -- Vietnam is an educated, wired place. Some 40% of all Vietnamese access the Internet on a daily basis, smartphone ownership is rising rapidly and as a young country where 40% of people are under 25, there is potential for further growth by targeting this upwardly mobile, connected young entrepreneur class (Davis, 2016).
Essay Prompt: Develop and present an outline marketing plan with justifications Purpose of the assessment The aim of the assignment is to demonstrate your understanding of how a global corporation strategically manages its marketing operations across global markets and cultures. Context: You work in a marketing consultancy. It is your job to prepare a report to the Dean of the Business School on your outline plan for entry into Vietnam with programmes of study. Your