Marketing Research in Vietnam

Vietnam has attracted a large amount of foreign investment in recent years, and even more foreign products are imported. Foreign companies operating in this rapidly developing market have a huge need for reliable marketing information, and the marketing research industry has taken off since 1992. There are only a few full-service type research suppliers, all foreign, but there are over 30 suppliers of various specialized services. Many suppliers are local, with some of their own clients, but also subcontracting with foreign research suppliers for local fieldwork.To local companies, marketing research usually means simply calling up connections and asking them for their opinion, or talking to one's distributors. They use such information for background knowledge, not for decisions about marketing. Foreign companies are leading the development of demand for modern marketing research. They conduct or commission modern marketing research projects, and they use the results to help them decide how to structure their marketing activities.On both the supply and demand side then, the rapid growth of the marketing research industry is currently being driven by foreign companies. However, some local companies are learning fast, and certainly all of the local employees in foreign and joint venture companies have absorbed the concepts of using and doing modern marketing research. The industry looks set to continue its rapid growth and broaden its base in the years immediately ahead