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CONTENT I. Executive summary .3 II. Description of the problem 3 III. Research methodology 5 a. Secondary data 5 b. Primary data 5 c. Total cost of the research 6 IV. Research study results 6 i. Business law and tourism industry 6 ii. Wedding anniversary demand on the Internet 7 “Need Advice on How the Celebrate 2Nd Wedding Anniversary with Low Budget 7 “This upcoming April will be the 25th wedding anniversary of my parents, and I wish to plan a classy surprise party for the both of them. I need some ideas on themes that will be fun, but still remain fairly sophisticated. I am 1 planning on inviting many of their friends, for I feel that it would make the occasion more meaningful to them. Anyone have any ideas on where I should start!? I want to plan a surprise party for my parents’ 30th wedding anniversary. I need help with everything .Any ideas?” – said, Transon.english.ftu from www.ttvnol.com 8 iii. Target market and their demand on our services 8 iv. Ha Long – a great destination for couples .11 v. Competitors .12 Monotonous tour programs .14 V. The implications of the results 16 1. Business environment .16 2. The demand on our services .17 3. Primary and secondary market .17 a. Primary market .17 b. Potential market .18 4. Our core services 18 5. Competitors 20 6. Promotional ideas .21 2 I. Executive summary The key findings from the market research Information about 5 aspects: - Business law and tourism industry - Wedding anniversary demand - Target market - Services - Competitors The findings above would be really necessary for us to know whether our idea is feasible or not. II. Description of the problem KEY QUESTIONS Aspect Necessary information Why it is necessary Research methods Tourism industry - Business law - Population of Viet Nam - Population of Ha Noi - Rates of households in Ha Noi - GDP per capita of Ha Noi - Tourism industry + The growth rates + Favorite destinations + Number of Ha Noi’s foreign tourists - Number and size of the company in this industry - What are the current opportunities and theats in this industry? - Setting up a company is legal or not. - Identify the size and purchasing power of the market segment and target market. - Foresee threats and chances in the industry - Internet - Book Wedding anniversary demand Quotations from several forums Identify the urge of wedding anniversary services Internet 3 Target market Profile - How old are they? - Where do they live? - What do they do? - How much do they earn? - What are their genders? To build a target market profile and adjust our services to satisfy them. Using survey sheet Perception towards company - Rate of customers’ perception + a wedding anniversary party + a wedding anniversary tour - How much are they willing to spend on our services? - When do they buy? - What do they expect for + A wedding anniversary party + A wedding anniversary tour Effective advertising method - Which sources do they use to find information about these services? To have effective promotional method to attract customers Characteristics of target customer To understand some psychological factors and buying behavior Observation and websites Product - Describe the services our Conduct a suitable Survey sheet 4 business will provide. market Competitor - Who would be competitors in the short term and long term? - Attitudes of competitors’ users - Measure customer satisfaction and dissatisfaction of competitors - Strengths and weaknesses of competitors To do better than competitors and survive in this competitive environment Interview directly III. Research methodology a. Secondary data Two members of our group were responsible for searching information on several credible websites and newspapers as well. b. Primary data a. Using the survey sheet • When did the survey be given? After Hung King’s festival day (15 th April, 2011) • Where did the survey be given? Offices at which our parents and relatives is working. These are: i. Viet Nam bank for agriculture and rural development ii. Viet Nam maritime commercial joint stock bank iii. Electricity of Viet Nam (EVN) iv. Military Bank v. Newspaper of Family and Society • Who did we survey People who were surveyed: Have high income (more than VND 7 million/ month) • Number of people were surveyed: 280 people • Survey sheet (can be seen on the final page) b. Interview directly • Contact methods: i. Yahoo messenger ii. Face book iii. Telephone iv. Face to face • The number of interviewees: 25 people. 5 c. Total cost of the research Method Cost (VND) Internet Email 0 Face book 0 Yahoo Messenger 0 Websites Phone call ( about 2 hours) 18,000 Print questionnaire sheet ( 300 sheets) 70,000 TOTAL 88,000 IV. Research study results i. Business law and tourism industry a. Business law According to “Business law” adapted from July 2006, government encouraged every citizen to run business to enrich themselves and society. b. Macro information Collected data Sources Population of Viet Nam 87.000.000 ( March, 2011) http://www.vietnamonline.com/ Population of Ha Noi 6.913.161 (in 2010) http://www.anninhthudo.vn Number of households in Ha Noi 1.702.552 (in 2010) http://www.anninhthudo.vn GDP per capita of Ha Noi USD 1,950 DanTri news (7 th December, 2010) The growth rate of tourism industry 11% (in 2010) Baomoi.com Number of Ha Noi’ foreign tourists 1.2 million (in 2010) http://www.vietnamtourism.gov.vn Some favorite destinations Ha Long, Phu Quoc, Nha Trang, Phan Thiet, … http://www.vietnamtourism.gov.vn 6 ii. Wedding anniversary demand on the Internet Comments on the Internet present the fact that there is a high demand on organizing a wedding anniversary. Lots of people want to organize a wedding anniversary for themselves, even sons and daughters want to celebrate this special day for their parents. Here are quotations from several forums “ I want to celebrate my 45th birthday and our 20th wedding anniversary, both of which are this October. What would you recommend?? What travel agency should I choose? Do they have this kind of tour?” – said, CuongeSc from www.webtretho.com “We started dating in the fall of 1999, so a year from now we will have been together for ten years. I can’t wait until our tenth anniversary, though. What a happy life is with this man! We want to plan ahead and make reservations at a good resort or location. Our current guidelines: • Family Friendly • Reasonably priced, or even Cheap! (Some ability to make meals a plus.) • No more than maybe 3 hours from home? Some flexibility here, since the cheaper the location, the more worthwhile the drive/time committed.” – said, Dakuwashinzen from www.ttvnol.com “Need Advice on How the Celebrate 2Nd Wedding Anniversary with Low Budget this year will be our 2nd wedding anniversary and we both were working new jobs on our first anniversary not to mention I was also happily prego last year & couldn’t pop the champagne. Our ideal anniversary would be an enjoyable not to mention memorable anniversary but for a reasonable rate, so we need help on deciding what to do besides sleeping it in and out” – said, dothihuyentrang from www.naungon.com “I need help. My husband and I will celebrate our 20th wedding anniversary in Dec. and want to take our family on a memorable trip. We have 3 grown children. We thought of a trip to the beach but have a 5 years old daughter with severe diabetes who has motion sickness so no long air trips. We are also concerned about a cruise as she gets seasick also. Any suggestions? We prefer something far away from Ha Noi. Many thanks” – said, Violetmoon_157 from www.tcan.com “I want to do something special….do I do a party for a 10 year anniversary? Where do I have 7 it, at home or at a hall? It is in September….where do I begin??? I’m little bit confused! Should I introduce my friend and family? Is there any company specialize in organize this kind of event?? I need some help!!!!!!!!!!!” – said, Goddess of love from www.webtretho.com “Wedding anniversary help. . .Its our 8th wedding anniversary on the 29th and we'd love to do something but have limited money. . ., no babysitter , no experience and I really don’t want to cook my anniversary too and I cook every day. Has anybody has some experiences? What should I do??” – said, Echipk1 from www.ttvnonl.com “I need anniversary ideas!!. . .My hubby and I are celebrating our 3 year anniversary at the end of the month (June) .I know 3. . . years isn't a "large" anniversary, but each year to me is BIG . especially at this day in age . What . . . are some ways you celebrated anniversaries?? I need ideas! I need help??” - said, Linhpham_elegent from www.ttvnonl.com “I am going to celebrate our 1st anniversary. . .My husband and I are approaching our first anniversary, we want to do something to celebrate. . . was hoping some of you would share some of the things you've done for anniversaries, so we can get ideas and support : ). Thanks a lot!” – said, Johnydeep_mylove from www.zing.vn “A little wedding anniversary help!. . I'VE ALWAYS DREAMED OF HAVING A WEDDING ANNIVERSARY! But I don’t know how. How to organize this event? How many people should I invite? How would I decorate?? I need some help!!!” – said, Haianhpham from www.amthucvietnam.com “This upcoming April will be the 25th wedding anniversary of my parents, and I wish to plan a classy surprise party for the both of them. I need some ideas on themes that will be fun, but still remain fairly sophisticated. I am planning on inviting many of their friends, for I feel that it would make the occasion more meaningful to them. Anyone have any ideas on where I should start!? I want to plan a surprise party for my parents’ 30th wedding anniversary. I need help with everything .Any ideas?” – said, Transon.english.ftu from www.ttvnol.com iii. Target market and their demand on our services Question Answer Percentage Comment 8 (%) 1 A 74,29 - Large number of short- term customer - A certain number of long-term customer B 25,71 2 A 76,14 - Most of customers show that they are willing to accept and support our service, which makes our idea become more practical, suitable for the market demand and attract great attention once it is launched. - 18, 14% is still considering, which implies that our company need to improve our advertising strategy to reinforce and increase the belief, the loyalty of customers. Besides, we should also provide more information about our service to the market. - 5, 72% want to ignore this service. This means that 5, 72% here is not out potential customer. However, in fact, with a reasonable and attractive marketing strategy, our company still can change their attitude to this service and make them use the service. B 18,14 C 5,72 3 A 62,86 - The majority wants to spend their anniversary B 27,14 with their partner only According to this data and our own ability C 10 4 A 14,29 This emphasizes that the idea of organizing a wedding anniversary including a trip and a dinner is greatly suitable for the market demand. We also prepare some small gifts for our customers, and give them on that special day to make them happy and satisfy with our service B 37,14 C 48,57 5 A 17,14 People chose both mostly but our company only offers services in restaurants. This means they are B 62,86 C 82,15 D 0 8 There are 2 different answers: - People chose “a party” => Most of them are willing to spend from VND 5 million to VND 10 million (44.76%) - People chose “ a trip” => They are willing to spend from VND 10 The price of our services needs to be adjusted. 9 million to VND 20 million mostly (55.24%) 9 A 53.33 Many people support our idea and want to try our service (40%). However, most of people are not willing to try this service. The reason may be because our service still too new. Our company need to push up our marketing strategy B 42.76 C 3.91 10 A 17,14 The most suitable and effective advertising methods are the Internet and mouth-to-mouth, because most B 2,86 C 48,57 D 51,43 • Question 6 Here is the result (just the highest percentages of each factor) • Price: quite important (45,27%) • Decoration: important (37,48%) • Unique: very important (67,23%) The company should focus on making unique tours and parties for each couples. To do this objective, we need to be very creative. • Question 7 There were various chosen destinations, these are: - Hue - Nha Trang - Lang Son - Sa Pa - Cat Ba - Mui Ne - Da Nang - Ha Long - Tam Dao - Hoa Binh - Phan Thiet - Phu Quoc - Bai Chay • Psychological factors and buying behavior of the officials - People don’t like activities 10 . CONTENT I. Executive summary.........................3 II. Description of the