Innovation in Private Labels- The Case Study of Marks and Spencer and the challenge when applying to private labels’ market in Vietnam.
Essay
Innovation in Private Labels- A case study of Marks and Spencer- British retailer and the challenge when applying to private labels’ market in Vietnam.
Name: NGUYEN ANH PHUONG
List of Abbreviation:
List of Figures
List of Tables:
I.
Introduction:………………………………………………………………..4
II.
Literature review …………………………………………………………..5
1. Overview of private labels………………………………………………….5
A. Definition of Private Labels…………………………………………………………………................5
B. Global Private label trends……………………………………………………………………………..6
C. Private labels vs National brand……………………………………………………………………..8
D. Incentives for Retailers to Create a Strong Private Label Program:……………..........9
E. Buying behaviors of private labels……………………………………………………………........9
2. Concept of Innovation:……………………………………………………14
A. Definition of Innovation………………………………………………………………………………….14
B. Business concept innovation…………………………………………………………………………..16
C. Types of innovation……………………………………………………………………………………….17
III.
Innovation in Private labels:……………………………………………..18
1. The motivation of doing innovation in private labels:……………...18
A. From the consumers’ point of view:……………………………………………....18
Page 2
B. From the retailers’ point of views…………………………………………………19
2. How private labels innovate:………………………………………….20
3. The impact of innovation’s private labels in general………………..25
IV.
Case study of Marks and Spencer in innovation of their private labels:26
1. Background of Marks and Spencer:……………………………………………………...26
2. Innovation in food private labels:………………………………………………………...27
V.
The challenge when applying innovation model in private label in
Vietnam:………………………………………………………………….30
1. Private label industry in Vietnam………………………………………………………..30
2. The challenge of innovation ‘s private labels in Vietnam……………………………….30
VI.
Conclusion and recommendation:………………………………………32
Referecences:………………………………………………………………32
Page 3
List of Abbreviation:
GM: Genetic
Innovation in Private Labels- A case study of Marks and Spencer- British retailer and the challenge when applying to private labels’ market in Vietnam.
Name: NGUYEN ANH PHUONG
List of Abbreviation:
List of Figures
List of Tables:
I.
Introduction:………………………………………………………………..4
II.
Literature review …………………………………………………………..5
1. Overview of private labels………………………………………………….5
A. Definition of Private Labels…………………………………………………………………................5
B. Global Private label trends……………………………………………………………………………..6
C. Private labels vs National brand……………………………………………………………………..8
D. Incentives for Retailers to Create a Strong Private Label Program:……………..........9
E. Buying behaviors of private labels……………………………………………………………........9
2. Concept of Innovation:……………………………………………………14
A. Definition of Innovation………………………………………………………………………………….14
B. Business concept innovation…………………………………………………………………………..16
C. Types of innovation……………………………………………………………………………………….17
III.
Innovation in Private labels:……………………………………………..18
1. The motivation of doing innovation in private labels:……………...18
A. From the consumers’ point of view:……………………………………………....18
Page 2
B. From the retailers’ point of views…………………………………………………19
2. How private labels innovate:………………………………………….20
3. The impact of innovation’s private labels in general………………..25
IV.
Case study of Marks and Spencer in innovation of their private labels:26
1. Background of Marks and Spencer:……………………………………………………...26
2. Innovation in food private labels:………………………………………………………...27
V.
The challenge when applying innovation model in private label in
Vietnam:………………………………………………………………….30
1. Private label industry in Vietnam………………………………………………………..30
2. The challenge of innovation ‘s private labels in Vietnam……………………………….30
VI.
Conclusion and recommendation:………………………………………32
Referecences:………………………………………………………………32
Page 3
List of Abbreviation:
GM: Genetic
References: Drucker, PF (1985). Innovation and Entrepreneurship. New York: Harper and Row. Scotchmer, S (2006). Innovation and Incentives. Cambridge, MA: MIT Press. Sohlenius, G (2008). The Nature of the Industrial Innovation Process. UK: Coxmoor Publishing Company. Utterback, J (1996). Mastering the Dynamics of Innovation. Cambridge, MA: Harvard Business School Press. Gassmann, O. and Enkel, E. 2006, Towards a Theory of Open Innovation: Three Core Process Archetypes, pp Rosenberg, N (2004). Innovation and Economic Growth. OECD, 2004. Welfens, PJJ, JT Addison, DB Audretsch, T Gries and H Grupp (2008). Globalization, Economic Growth, Innovation Dynamics Barsky, M, M. Bergen, S. Dutta, and D. Levy (2001) What can the Price Gap between Branded and Private Label Products Tell Us about Markups? NBER Working Paper No O’Bornick. M.. 2003. The future of private label food and Drink. Growth Strategies for retailers and manufacturers” Page 32 Traill, W.B., Meulemberg, M.,(2002), “Innovation in the Food Industry”, Agribusiness, Vol Gassmann, O. and Wecht, C.H. 2005, Early Customer Integration into the Innovation ProcessTowards a Conceptual Managerial Model, Proceedings of the 12th International Product Development Management Conference; Copenhagen, available at http://www.bgwsg. com/doc/chw2.pdf, (18/04/2008). Mills. D.E.. 1995.Why retailers sell private labels. Journal of Economics & Management Strategy O’Bornick. M.. 2003. The future of private label food and Drink. Growth Strategies for retailers and manufacturers” Quelch. J.A.. and D. Harding. 1996. Brands versus private labels: Fighting to win. Harvard Business Review CONFIDENTIAL & ©RetailNet Group, www.retailnetgroup.com Page, 2010, Marks & Spencer’s Private Label Shows its Colors Ha Huy Dung, 2012,” The private label trend in Vietnam and its challenge”, MA Page 33