how to get nguyen kim back to leaderin technical consumer goodsmarket in 2016 2018

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1 HO CHI MINH CITY OPEN UNIVERSITY UNIVERSITÉ LIBRE DE BRUXELLES SOLVAY BRUSSELS SCHOOL OF ECONOMICS & MANAGEMENT MMCoM9 NGUYEN THI NGOC LAN PHAM HUU LOC HOW TO GET NGUYEN KIM BACK TO LEADER IN TECHNICAL CONSUMER GOODS MARKET IN 2016-2018 MASTER FINAL PROJECT MASTER IN MARKETING AND COMMUNICATION MANAGEMENT Ho Chi Minh City (2016) COMMITMENTS The authors – Nguyen Thi Ngoc Lan and Pham Huu Loc - produced this project together with materials retrieved from either public sources or Nguyen Kim’s The paper was made exclusively for the completion of Master in Marketing and Business Management, Solvay Brussels School No substance was used or would be for any other purpose ACKNOWLEDGEMENTS I would like to express my appreciation to Assoc Prof Hoang Thi Phuong Thao, Ph D and Mr Nguyen Le Thai Hoa, MMA for their supports and supervision of this final project LETTER OF RECOMMENDATION We are writing to confirm that the project entitled: HOW TO GET NGUYEN KIM BACK TO LEADER IN TECHNICAL CONSUMER GOODS MARKET IN 2016-2018 Which was prepared by Ms Nguyen Thi Ngoc Lan and Mr Pham Huu Loc has satisfied requirements for a Master project in Marketing and Communication Management They are now qualified to present it to the Jury Yours sincerely, Academic Tutor, Assoc Prof Hoang Thi Phuong Thao (Ph D) Practical Tutor, Nguyen Le Thai Hoa (MMA) TABLE OF CONTENT COMMITMENTS ACKNOWLEDGEMENTS CHAPTER 1: INTRODUCTION 11 1.1 Vietnam Retail Market Overview: 11 1.2 Vietnam Consumer Electronics Market: 13 1.3 Nguyen Kim introduction: 15 1.3.1 History: 15 1.3.2 Nguyen Kim’s Vision - Mission – Objectives: 16 1.3.3 Nguyen Kim’s Marketing Activities 16 1.4 Problem statement and Rationales: 17 1.5 Project objectives: 18 1.6 Scope and limitation of the project: 18 1.7 Methodology: 19 1.8 Structure of the project: 19 CHAPTER 2: LITERATURE REVIEW 21 2.1 Introduction: 21 2.2 Brand nature and scope 21 2.2.1 Brand definition 21 2.2.2 Scope of the brand: 22 2.3 Retailer format: 22 2.4 Store image: 22 2.4.1 Some definitions: 22 2.4.2 Store image dimension: 23 2.5 2.4.2.1 Commercial/marketing image of store: 23 2.4.2.2 Social image of the store 24 2.4.2.3 Strategic image of the store 25 2.4.2.4 Store personality 25 Store Satisfaction 25 2.6 Store loyalty 25 2.7 The relationship between store image, store satisfaction, and store loyalty 26 2.8 SWOT analysis: 27 2.9 Marketing strategy: 27 2.10 Chapter summary 27 CHAPTER 3: CRITICAL ANALYSIS 29 3.1 General analysis: 29 3.1.1 Macro environmental Analysis (SLEPT) 29 3.1.2 Micro environment: 31 3.1.2.1 Competitors: .31 3.1.2.2 Customer segmentation: 33 3.1.2.3 Supplier analysis: 34 3.1.2.3.1 Power of suppliers: 34 3.1.2.3.2 Power of Nguyen Kim: 34 3.2 Evaluation of Nguyen Kim’s Marketing Activities: 35 3.3 SWOT analysis: 37 3.3.1 Strengths: 37 3.3.2 Weaknesses: 37 3.3.3 Threats: 38 3.3.4 Opportunities: 38 CHAPTER 4: RECOMMENDATIONS AND ACTION PLAN 39 4.1 Nguyen Kim’s business goals in the next years: 39 4.2 Marketing objectives: 39 4.3 Recommendations to improve Nguyen Kim customers’ satisfaction and loyalty 39 4.3.1 Recommendations for improving Nguyen Kim’s commercial image according to marketing mix (4Ps): 40 4.3.2 Nguyen Kim Social image: A good citizen for community 40 4.3.3 New strategy for approaching customers (strategic image): 41 4.3.4 Building Nguyen Kim personality: The Protector 42 4.3.5 Moving from traditional to digital in Marketing: 43 4.4 Integrated marketing and communication plan with timelines: 43 4.5 Marketing Budget allocation in 2016-2018: 46 4.6 Conclusions: 46 REFERENCES APPENDIX APPENDIX A: APPENDIX B: APPENDIX C: APPENDIX D: APPENDIX E: LIST OF ABBREVIATIONS CBRE: Commercial Real Estate Services TCG: Technical Consumer Goods CE: Consumer Electronic MDA: Major Domestic Appliance SDA: Small Domestic Appliance PH: Photography IT: Information Technology OE: Office Equipment and Consumables GDP: Gross Domestic Product M&A: Mergers and Acquisitions CSR: Corporate Social Responsibility BMI: Business Monitor International CCI: Consumer Confidence Index VCCI: Vietnam chamber of commerce and industry WTO: World Trade Organization HCMC: Ho Chi Minh City 10 ABSTRACT Established since 1996, Nguyen Kim is very successful in Ho Chi Minh City (Vietnam) as a market leader in Technical Consumer Goods (TCG), especially in Consumer Electronic (CE), Major Domestic Appliance (MDA) and Small Domestic Appliance (SDA) sector Nguyen Kim is the first and the only store selling genuine products with the clear price listed, applying “free delivery and installation at home” service policy, the pioneer in service and bringing more benefits to customers For years, Nguyen Kim has had 21 shopping centers in big cities throughout the country and became the leader in market share, service and revenue in Vietnam TCG retail market In 2015, Central Group (Thailand) acquired 49% stakes owned by Nguyen Kim However, during from 2011 to 2013, TCG retail market witnessed significant decrease in sales due to economic downturn Vietnam Consumer Confidence Index fell gradually There was a sign of market saturation in the urban of Vietnam While some sectors that Nguyen Kim was evaluated as its strengths including CE, MDA, SDA that maintained low growth rate, telecommunication sector rose dramatically average 35% per year This created an opportunity for The Gioi Di Dong (Mobile World Investment Corporation-MWG), to develop since telecommunication was its major business Moreover, there was an aggressive penetration of internal and external competitors in Vietnam TCG market during recent years In terms of pricing competition, most major retailers are trying to offer the most competitive discounts to attract customers and increase sales Nguyen Kim had many difficulties to maintain and increase its sales, market share and even brand awareness In 2015, Nguyen Kim officially lost its leading position for The Gioi Di Dong, the biggest competitor in sales and market share The purpose of this paper, therefore, is to study the opportunity for Nguyen Kim getting back to the leader in TCG retail market In order to that, it is essential for undertaking many researches to know what factors are most important for customers purchasing decision, how to attract them effectively and how to maintain their loyalty Relevant desk researches and secondary researches have been used for the analysis to evaluate Nguyen Kim integrated marketing and communication activities in the last three years A qualitative method was also done with two focus group discussion to identify some factors contributing store image leading to store loyalty Results revealed that store image influenced positively on purchasing decision Beyond conventional marketing image of a store, corporate social responsibility gradually became more important in determining purchasing decisions The findings will help retail management and Nguyen Kim in particular to understand customers’ insight, to segment effectively, and to reposition their store image accordingly 11 CHAPTER 1: INTRODUCTION The purpose of chapter is to provide understanding for Vietnam’s retail market overview, especially in Technical Consumer Goods market, how it is potential for international and internal investors, and Nguyen Kim’s introduction in this context 1.1 Vietnam Retail Market Overview: Vietnam is one of the most potential retail markets in the world In 2014, Vietnam was ranked 28th in Top 30 thpotential markets in the world However, Vietnam retail market maintained the highest growth rate by 23% comparing to India (18,8%) and China (13%) Furthermore, the market scale reached to USD110 billion in 2014 and had high average growth rate by 15% every year from 2004 On the other hand, Vietnam has approximately 100 million people, two-third of Vietnam population is young and in the working age Vietnam’s population increased about million people per year that lead to the rising of Vietnam retail market scale Young population is core shopper in the market so that push Vietnam retailing development in the future According to CBRE’s report “The Liveliness of Retail Markets in Asia – Pacific 2014”, Vietnam is one of potential and highly-evaluated markets in the region Modern trade included supermarket, hypermarket, shopping mall, convenience store, online shopping and TV shopping are dominant It took by 25% in the market which is projected increase by 45% in 2020 In VCCI research, 37,4% people said that usually shopping in supermarket and shopping mall instead traditional market Asia is getting richer and Vietnam is part of this story In Nielsen’s 2015 report “Are you ready for the future”, Asia will be home of billion middle class and Vietnam middle class set to almost triple by 2020 from 12 million to 33 million (2014 to 2020) By 2020, Vietnam’s average per capita income will rise from $1,400 to $3,400 a year Vietnam’s GDP accounted percent in the fourth quarter of 2015 over the same quarter of the previous year Bloomberg’s analysis on the growth prospects of 93 economies in the world forecasted that Vietnam will rank second worldwide for growth rate in 2016, with 6,6 percent, just behind India with 7,4 percent Top big cities of population in Vietnam are Ho Chi Minh City 7,955 million, Hanoi 7,067 million and Thanh Hoa 3,491 million The Vietnam’s urbanization accounted for 3,3% per year with 33, 1% of population living in big cities Therefore, foreign retailers as well as local retailers make their efforts to expand their coverage in Vietnam There were various forms of expansion such as open new stores and merge and acquisition For example, in February 2016, Thai Charoen Corporation (TCC Group-Thailand) has acquired Big C Thailand with the price of 3, billion USD and many have said that TCC will acquire Big C Vietnam with the price of 900 million USD Before, 40 4.3.1 Recommendations for improving Nguyen Kim’s commercial image according to marketing mix (4Ps): Product and Service: - - - - Diversifying in product categories Always have the newest products/technology Increasing new categories relevant to Technical Consumer Goods to make completely one-stop-shopping experience for customers Sale teams graduated from technical school who have good knowledge to explain to customers about technical problem or give advice/recommendations in need Technical teams have good skill in installation and repairing to give manuals for customers, improving customers standard living by introduce/upgrade more high-tech product for customer house Flexible in payment: pay by cash or credit card at stores or home, installment payment with many banks who have partnership with Nguyen Kim Price: - Competitive price comparing to competitors Promotion: - Maintain promotion campaigns which were strength of Nguyen Kim such as Golden Week, Big Bang More creative and innovation in promotion campaigns to make differentiate from competitors and attract customer’s awareness Place: - Making fun of store atmosphere Customer will enjoy shopping by experiencing products and joining in store’s activities Building Nguyen Kim store image of professional, young, modern and hightechnology 4.3.2 Nguyen Kim Social image: A good citizen for community Idea: Building Nguyen Kim social image as a good citizen with corporate social responsibility (CSR) activities Key message: Nguyen Kim is a corporate citizen which creates value for communities through the company's expertise 41 Sponsor for schools: - To build up a high tech lab room/library in each province - Likely donations include projectors, notebooks, and so on for poor schools Sponsor for houses: To donate TVs, cookers, electronic fan, irons, lamps… for poor households Actions: In 2015, Nguyen Kim is successful in their charity program named “Pure water for children”, donated clean water filtration system for elementary school and household in remote areas Through this program, Nguyen Kim has not been only establishing its leading brand name in business but also joining into meaningful social activities In 2016-2018, because of Nguyen Kim DNA is service and after sale service so Nguyen Kim CSR Program must relevant and consistent with their DNA There are Nguyen Kim’s “Fix and Upgrade Bus” will spend a year touring many provinces over the nationwide and offer free maintenance service for local customers Nguyen Kim will also provide a full "electrical renovation" to two needy households in each province, supplying them with essential daily items Provide one IT class room equipped with hi-tech products from Nguyen Kim in each province The program highlights three key virtues of Nguyen Kim: strong links with its customers, care for communities, leveraging key expertise for younger generation Destinations of Nguyen Kim’s “Fix and Upgrade Bus” will be located in provinces Nguyen Kim had or already have had plan to open new stores 4.3.3 New strategy for approaching customers (strategic image): With the speed of competitor’s expansion, how Nguyen Kim to reach to customer with a limit coverage? Thank to emerging of technology, Nguyen Kim can take these advantages to approach to customer in a new way by a multi-channel and push sale volume in their main market as big cities Consumer is on the move today so they need a fast and convenient service for their busy lives Millennial (age 21-34) are the core shoppers with 49-59% of customers will browse online when they have demand and 52-64% decide to buy online Meanwhile, Ho Chi Minh and Hanoi are biggest cities of population in Vietnam There were approximately 500 office buildings, apartments and shopping malls As they urbanize, consumers are willing to spend, want better not more and seek new experiences and offerings How does Nguyen Kim increase sales without increasing the number of stores? Idea: Bring the store to customers 42 Recommended actions: Nguyen Kim could create their virtual stores in these public places where can reach most of Nguyen Kim customers Installing poster frame in these office buildings and premium apartments to attract customer who living and working there Although virtual, the displays were exactly the same as actual stores Customers download Nguyen Kim App into their smartphone Then they can use their smartphone to scan the QR codes of the products they want to browse or purchase The scanned products are stored in the customer’s online shopping basket Customers schedule a time for home delivery They can choose pay online or by cash/credit card through Nguyen Kim MPOS (mobile point of sale) at home Nguyen Kim delivery and install at home Strategic goals: - - These virtual stores are not only increase sale but also awareness of customers It will develop Nguyen Kim coverage without open new real stores or shopping center Nguyen Kim set the target of online sale increase by 100%, the number of new registered members rose by 150% in the first year launch 4.3.4 Building Nguyen Kim personality: The Protector Nguyen Kim is characterized by their emotionally dedicated customer service and commitments to protect customer rights They have practiced their company culture “All for customers Customers will give back all” in a thorough and consistent manner This cultural uniqueness is demonstrated in every service step with the philosophy and guarantee “Nguyen Kim is willing to suffer a loss to make customers satisfied” So, their brand personality is: Compassionate, Responsible and Creative - - Compassionate: Nguyen Kim deeply understand customers as well as their demands, Nguyen Kim always tries hard to improve service quality to increase customers’ satisfaction Responsible: reflects the brand spirits in bringing the best for customers as Nguyen Kim promised Creative: Nguyen Kim continuously innovate their service quality and finds new ideas to satisfy customer’s demand 43 These personalities must be express clearly and consistently through Nguyen Kim customer service and marketing promotion campaigns 4.3.5 Moving from traditional to digital in Marketing: Idea: Changing the way in customer touch-points Actions: Because Nguyen Kim has wide coverage in both big cities and many provinces Nguyen Kim marketing activities must be integrated traditional and digital to effectively reach to target customers Beside traditional channels such as Print Ad, Outdoor, Television and Radio, Nguyen Kim must to enhance digital advertising and communication such as Online Ad, Viral Email, Digital Billboard, Google Search, Website and social network Maintaining traditional channels in rural areas while switching marketing budget from traditional to digital in big cities Depending on each marketing campaign, Nguyen Kim choose suitable marketing tools to deliver messages For example, launching Big Bang – Nguyen Kim Promotion Campaign Pre-event, 4.4 Integrated marketing and communication plan with timelines: So, all we need is launching Nguyen Kim new image in the new period Through marketing activities and corporate social responsibilities, Nguyen Kim has built good relationship with customers and maintained customer loyalty with the brand Table 4.2 – “Nguyen Kim is back” launching planning process Marketing Promotion Campaign Place Product Price Re-decorating Nguyen Kim store image Build virtual stores at buildings, apartments Training courses for all positions, especially salemen, technicians, store managers, officers Working with suppliers to expand categories Working with bank, finance partners for payment policy supports Analyzing the competitive price Milestones 2016 2017 2018 July- Jan- Jul- Jan- JulyDec Jun Dec Jun Dec Department Project Management Board HR & Administration Merchandise 44 Updating on Nguyen Kim Facebook Fan Page for launching schedule Introducing Nguyen Kim's new image and virtual stores Leaflet (deliver at Nguyen Kim shopping Promotion centers) (communication POSM at Nguyen Kim & official shopping center launch) Direct mail to Nguyen Kim's customers Print Ad on Newspaper nationwide Vietnam Banner on top website in Vietnam PR (articles and news) on online newspapers CSR Programs Nguyen Kim branded bus to be developed Leaflets and vouchers will be handed over to customers to raise Program awareness activities Customers register in advance to join the service Service will last for one month per province Press conference announcing Nguyen Kim’s sponsorship Program kick- campaign held at HCMC Video recording of the off whole campaign will be viral on Facebook of Nguyen Kim Broadcasting on local TV, local media at province, Launching city MKT team After sale service Department & Store Managers MKT Team 45 Table 4.3 – “Nguyen Kim is back” s KPIs In order to evaluate the Nguyen Kim integrated marketing and communication activities in the next years, there are some KPIs that will be applied as follow detailed: Priority Title Place Product/ Brand Image Price Key priority (Y/N) Priority description Timing Measurement Choose 10 buildings in Ho Chi Minh city and 10 in Yes Hanoi to build virtual stores JulyDec,2016 Number of virtual stores is developed in big cities Design and re-decorate Nguyen Kim new store Yes image JulyDec,2016 Strictly on time and meet safety/standard construction expectation Improving Nguyen Kim website easy and friendly to Yes use JulyDec,2016 Friendly website, easy to browse and purchase Diversified categories Yes JulyDec,2016 Feedback from customer survey at store and website Build strong skills in sale Yes team and technician team JulyDec,2016 Report/Take the exam after training courses Increasing awareness campaign Jan June, 2018 in product's customer's after CSR Yes - 98% of customer rate excellent in Nguyen Kim service Analyzing and offering competitive price Yes comparing to competitors JulyDec,2016 Effectiveness of discount/ promotion campaigns Effectiveness stores Jan June, 2017 Increasing in sale online volume of virtual Yes - Promotion Customer awareness and Yes customer loyalty July – Dec 2017 Measure the number of customer who back to Nguyen Kim after a long time and the number of new customers for the second time 46 4.5 Marketing Budget allocation in 2016-2018: Along with some recommendations and the changing method in marketing strategy, the project proposed to reallocate marketing budget as follows: Marketing Activities Budget (USD Mil) % Percentage Trade marketing Digital marketing OOH Ads Print Ads Promotions CSRs 10 15 10 20 10% 15% 2% 10% 20% 8% New customers approaching Events/personality Others 15 15 15% 15% 5% Total 100 Others 5% Marketing Budget Events/perso nality 17% New customers approaching 17% Digital marketing 17% OOH Ads 2% Print Ads 11% CSRs 9% Promotions 22% 4.6 Conclusions: Based on Nguyen Kim business goals and marketing objectives, the project has proposed recommendations including improving Nguyen Kim’s commercial image by Marketing Mix, building Nguyen Kim social image as a good citizen, finding new strategy to approach target customers, building Nguyen Kim brand personality to maintain customer loyalty and moving from traditional to digital in Marketing These recommendations will help Nguyen Kim management to adjust their integrated marketing and communication plan, relocate marketing budget in order to get Nguyen Kim back to the leader in the TCG market in 2018 47 REFERENCES Aaker D.A (1991) Managing brand equity: Capitalizing on the value of brand name New York: Free Press Bloomer J., & De Ruyter K (1998) On The Relationship Between Store Image, Store Satisfaction and Store Loyalty European Journal of Marketing Vol 32(5/6), 499513 Dick A.S., & Basu K (1994) Customer loyalty : Toward and integrated conceptual framework Journal of Academy of marketing science, Vol.22 No.2 pp.99-113 Martineau, P (1958) The Personality of The Retail Store Harvard Business Review, Vol 36, pp.47-55 Oliver R.L (1999) Whence consumer loyalty? Journal of Marketing, 63(Special Issue), pp.33-44 Osman M.Z (1993) A Conceptual Model of Retail Image Influences On Loyalty Patronage Behaviour The International Review of Retail, Distribution and Consumer Research, Vol.3 No.2, pp.133-148 Jose Juan Beristain and Pillar Zorrilla (2011) The relationship between store image and store brand equity: A conceptual framework and evidence from hypermarkets Journal of retailing and consumer services 18, pp.562-574 Nguyen Kim internal research in 2010, 2012, 2014 GFK report 12/2015 Philip Kotler & Keller, K (2013) Marketing Management (Vol 14th Edition) Person Education South Asia Pte Ltd Nielsen report 12/2015 Turban, D.B., Greening, D.W (1996) Corporate social performance and organization attractiveness to prospective employees Academy of management journal, 40(3), 658-672 www.privatelabelmag.com www.nguyenkim.com 48 APPENDIXES APPENDIX A: Questions for Focus Group Discussion (DÀN BÀI THẢO LUẬN NHÓM) Part I: Discovering loyalty factors when customer shop at electronics stores Phần I: Khám phá yếu tố lòng trung thành khách hàng mua sắm siêu thị điện máy Where you usually shop at electronics stores? Why you choose that electronic supermarket to shop regularly? Anh/chị thường mua sắm siêu thị điện máy ? Vì anh/chị lựa chọn STĐM để mua sắm thường xuyên? Why you go shopping at electronics supermarket without buying in electric outlet or fair? Tại anh/chị mua sắm siêu thị điện máy mà không mua cửa hàng điện máy chợ? Please indicate advantages and disadvantages of electronic supermaket comparing with the market? With electrical outlets? Hãy cho biết ưu nhược điểm siêu thị điện máy so với chợ ? Với cửa hàng điện máy? When shopping you often purchase at electronic supermarket or change to other electronic supermarket? Why? Khi mua sắm, anh chị thường mua siêu thị điện máy hay có thay đổisiêu thị điện máy khác? Vì sao? Please indicate advantages and disadvantages of the electronic supermarket: Nguyen Kim? Cho Lon? Thien Hoa? Hãy cho biết ưu nhược điểm siêu thị điện máy: Nguyễn Kim? Chợ Lớn? Thiên Hòa? According to you, a good electronics supermarket (where you are loyal when shopping) should have what elements? After customers answer (eg factor A, B, C), question more about the details: please said more specific about factors are like? How to evaluate it? Theo anh/chị, siêu thị điện máy tốt (nơi làm anh/ chị trung thành mua sắm)cần phải có yếu tố nào? Sau khách hàng trả lời (ví dụ yếu 49 tố A,B,C), Hỏithêm chi tiết: Chị cho biết cụ thể thêm yếu tố nào? Làm nàođể đánh giá nó? In the following remaining factors, you see them affecting the satisfaction when shopping at electronics supermarket (using factors not mentioned in the store image properties of Lindquist (1974-75), the social image of the store (Garcia de los Salmons et al, 2005) and strategy image of the store (Aaker, 1996) Do the same as in step when asked about the details of each element Trong yếu tố lại sau đây, anh/chị thấy chúng có ảnh hưởng đến hài lòng mua sắm siêu thị điện máy (sử dụng yếu tố chưa đề cập đến thuộc tính hình tượng cửa hiệu thương mại Lindquist (1974-75), hình tượng xã hội cửa hiệu (Garcia de los Salmons et al, 2005)Và hình tượng chiến lược ( Aaker ,1996) Thực tương tự bước hỏi chi tiết yếu tố Part II: Reaffirmation of factors that make customer loyalty when shop at electronics supermarket Phần II: Khẳng định lại yếu tố tạo nên lòng trung thành khách hàng mua sắm siêu thị điện máy Now, you consider these factors and sort them according to their importance: critical, 2: less important Why? Bây giờ, anh/chị xem xét yếu tố xếp thứ tự theo tầm quan trọng củachúng: quan trọng, 2: quan trọng hơn…Vì sao? Part III: Assess the marketing and integrated communication of Nguyen Kim in recent times: - Promotions Sponsorship program Activities for the community (CSR) Trade marketing Phần III: Đánh giá hoạt động marketing va truyền thông tích hợp Nguyễn Kim thời gian vừa qua: - Chương trình khuyến Chương trình tài trợ Hoạt động cộng đồng (CSR) Trade marketing … Sincere thanks to your collaboration Chân thành cám ơn hợp tác anh/chị 50 APPENDIX B: PHILIP KOTLER & KELLER, 2013 Retailers with stores: The department store is a best known type The retail format through various stores will have the motivation to compete and prices vary Such as discount stores compete fiercely with each other far more than other types Retailers also meet consumer tastes very different to the level of service and specific services Namely, they are positioning themselves as suppliers of the four levels of service: Self-service, buffet, limited service and full service Based on data from online sources www.privatelabelmag.com, we can classify the major retail stores as follows: Specialized shops: a narrow product line, for example: The Face Shop, The Body Shop Department Store: multiple product lines Supermarket: The large stores, low cost, low margin, high volume business, catering for the overall needs of the food and household goods Convenience Stores: Small store in a residential area, which is open 24/7, limited product lines including consumer products fast and convenient takeaway Example: B's Mart, FoodCo-op, Satra Food, Circle K Pharmacy store: prescription and non-prescription, products that support the health, beauty, personal care, consumer short time, the odd dish For example, the pharmacy system Bao Chau Discount shops: the commodity standard or special; stores with low prices, low profit margin, large volume business For example, Walmart, Kmart Discount supermarkets: combining a more limited merchandise stores cheap, but the prices are lower Example: ALDI, Dollar General, Family Dollar Large Stores: store huge area, sales of common food items and household items, plus services (laundry, shoe repairs, dry cleaning, checks, cash exchange) The large specialized stores (the product of an intensive group) such as Nguyen Kim Shopping Centre, home appliance Cho Lon Retailer without store: rich set of high-value goods surplus, strong sales and brand are sold at discounted prices as catalog Customers to receive goods here, not through retail stores: including four major categories: 51 Direct Sales: also known as multi-level sales and marketing network For example, Avon, Amway Direct Marketing: mail and catalogs; phone; TV shopping (HTVCoop, SJC life on, Lotte DAT Vietnam ) and electronic procurement (lazada.com, c-discount, hotdeal.vn ) Vending Machine + for non-alcoholic beverages, coffee, confectionery, newspapers, magazines and other products such as knitwear, cosmetics, hot food and paperback Retailers and franchising 52 APPENDIX C: NIELSEN TREND AND BEHAVIOR IN 2016 REPORT 53 APPENDIX D: 2015 RETAIL ASIA PACIFIC TOP 500 ANZ – ROY MORGAN VIETNAM CONSUMER CONFIDENCE 2015 54 APPENDIX E: NGUYEN KIM CSR PROGRAM & MARKETING CAMPAIGN IN 2015 CSR: “PURE WATER FOR CHILDREN” PROMOTION CAMPAIGN: [...]... leading brand and with FPT shop, took over 50% market share of Vietnam retail market 1.3 Nguyen Kim introduction: 1.3.1 History: Establishing in 1996, Nguyen Kim Trading Joint Stock Company launched its first store in Ho Chi Minh City offered complementary “door -to- door” delivery and installation service Nguyen Kim established the first modern consumer electronic shopping center (modern trade format) in. .. plan - To continue developing Nguyen Kim as the leading Vietnamese brand in electronic and digital retailers and achieve the average growth rate of 50% To reach50 Nguyen Kim shopping centers across 32 big cities and provinces To continue follow the commitment of providing superior services and aftersales, introducing new and innovative policies to upgrade the consumers benefits to be equal to those in. .. Nguyen Kim has technical team to check and expertise products before selling in store It is sure that products meet quality standard and safe for customers Nguyen Kim has good health in finance and clear payment schedule, that’s why suppliers very happy to work with Nguyen Kim Nguyen Kim deployed their new 35 ERP system from 2014 which help Nguyen Kim easy to control in- out system and reduce inventory... Therefore, this project aimed to find out specific reasons behind for this problem and worked out some solutions to help Nguyen Kim to take back the leading position 1.5 Project objectives: - - To analyze Nguyen Kim s Business Activities included Marketing, Market Share and its situation where Nguyen Kim are in from both macro and micro perspectives To understand changing in customer behavior and habits... surpassed Nguyen Kim in Retail AsiaPacific Top 500 ranking with USD721 million revenue comparing to USD603 million of Nguyen Kim In 2015, The Gioi Di Dong announced its revenue is USD1,1 billion comparing to Nguyen Kim USD727 million (predicted) The Gioi Di Dong officially becomes leader in TCG market while Nguyen Kim is backward to the second position Nguyen Kim lost its market share and customer loyalty... awareness, according to Nielsen research in 2011, 98% customers evaluated Nguyen Kim is number one retailer in consumer electronic market - Furthermore, being strategic partner with many electronic corporation, financial and banks… Nguyen Kim had many supports from its partner to give many special benefits for customers - Nguyen Kim build one-stop-shop business model, customers visit Nguyen Kim shopping center... Groups of 10 consumers in order to understand the consumer insight and expected attributes of electronics supermarkets in general and Nguyen Kim in particular One group includes consumers who have bought technical consumer goods from electronics supermarkets within one month in Ho Chi Minh City and another group in Hanoi (refer to table 2-1) The authors acted as a moderator/facilitator in group discussions... reputation in consumer electronic Limited in the retail market, pioneer coverage in the market, shopping mall (Source: Authors synthesized) 33 3.1.2.2 Customer segmentation: It can’t be deny that online shopping is a new trend in Asia, especially in Vietnam According to 2014 Online Shopping Study of MasterCard in Vietnam, the main reasons for accessing the internet include reading news, browsing for work... leading global electronic corporations For years, Nguyen Kim became the leading in consumer electronic market in Ho Chi Minh City, South of Vietnam In 2007, Nguyen Kim set the foot print in North market with Trang Thi Shopping Center (Hanoi) From 2012, Nguyen Kim expanded coverage over the nationwide with opening consumer electronic shopping centers in Central of VN, Southeast of VN and Mekong Delta, increasing... opportunities for Nguyen Kim in the new period To identify Nguyen Kim problems by SWOT analysis so to recommend strategic for Nguyen Kim to increase consumer perception, loyalty and attraction through Marketing Promotion campaigns 1.6 Scope and limitation of the project: There were many factors affecting Nguyen Kim s business performance such as personnel management, supply chain, finance and so on, within the
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