Đang tải... (xem toàn văn)
Principle of Marketing Assignment 1 BTEC Nguyen Huu Phong 2017 tại University of Greenwich Viet Nam, đây là một trong những môn rất quan trọng và cần thiết cho những người muốn theo nghành businness cụ thể là human resource management như mình. Bài assignment này được mình làm tại trường. Các bạn có thể xem và tham khảo nhưng lư
ASSIGNMENT FRONT SHEET Qualification BTEC Level HND Diploma in Business Unit number and title Unit 4: Principles of Marketing Assignment due Assignment submitted Learner’s name Nguyễn Hữu Phong Assessor name Learner declaration: I certify that the work submitted for this assignment is my own and research sources are fully acknowledged Learner signature Date Grading grid P1.1 P1.2 M1 Assignment title M2 M3 D1 D2 D3 The concept and process of marketing In this assignment, you will have opportunities to provide evidence against the following criteria Indicate the page numbers where the evidence can be found Assessment criteria Expected evidence Task no Assessor’s Feedback LO1 Understand the concept and process of marketing 1.1 explain the various elements of the marketing process Explain the marketing process and key elements in the marketing process which should include but not limited by: 1.2 evaluate the benefits and costs of a marketing orientation for a selected organisation Explain marketing orientations Identify which marketing orientation followed by your company and evaluate the benefits and costs of your company’s marketing orientation(s) Assessment criteria Expected Evidence Feedback (note on Merit/Distinction if applicable) Merit descriptor No.1 (M1): Identify and apply strategies to find appropriate solution Merit descriptor No.3 (M3): Select/design and apply appropriate methods/techniques In particular, you must present: - Illustrate the marketing process with suitable examples from your organization - Effectively evaluate whether the currently followed marketing orientation is appropriate to your company Relevant theories concerning marketing process and marketing orientations have been applied - A wide range of resources of information relating to the organization’s marketing process and marketing orientation has been effectively used to support your argument Merit descriptor No.3 (M3): Present and communicate appropriate findings: - Clear assignment structure with appropriate level of academic English writing - A range of methods of presentation have been used effectively - Marketing terminologies are accurately used and explained for nonmarketing background audience - The assignment is written with coherence and consistence Distinction descriptor No.1 (D1): Use critical reflection to evaluate own work and justify valid conclusion: - Propose recommendations for your organization to improve its marketing process - Provide appropriate solutions for the organization regarding to the costs and benefits of its marketing orientation Distinction descriptor No.2 (D2): Take responsibility for managing and organizing activities - An appropriate range of research on the organization marketing process and marketing orientation has been taken place and supported your ideas - Sources of information are correctly cited Distinction descriptor No.3 (D3): Demonstrate - Generate your own ideas on marketing process and convergent/lateral/creative thinking marketing orientation through the assignment -Effectively self-evaluate your own arguments when analyzing and proposing your recommendations on the organization’s marketing process and marketing orientation - Innovative and creative thinking have been applied to present your ideas and appropriate recommendations for the organization’s marketing process and marketing orientation Summative feedback Assessor’s Signature IV Grading Check: Date Comments if any: Agree Disagree IV Signature Modify grade to Date Contents Introduction ……………………………………………………………………………… Part 1: The Marketing Process ……………………………………………………………11 Step 1: Understand Market Place and consumer needs and wants ……………… 11 Step 2: Design a customer – driven marketing strategy ………………………… 13 Step 3: Construct an integrated marketing program that deliver superior value … 15 Step 4: Build profitable relationships and create customer delight ……………… 19 Step 5: Capture value from customers to create profits and customer equity …… 21 Part 2: The Marketing Orientation ……………………………………………………… 22 References ……………………………………………………………………………… 27 The world is growing rapidly every second, every minute In just a short time with the conservative old ways, the whirlwind of growth can kill a business even though it has the big strength Understand that, not just the business world in general but also the business in Vietnam in particular, required to change and choose the correct direction to keep a foothold in the market and expand the scale As a leading enterprise in the production of shoes in Vietnam, in more than 33 years of establishment and development, through numerous ups and downs, Binh Tien limited liability company producing consumer goods, also known by the familiar and trusted name in the hearts of consumers in Vietnam is Biti's Going through a difficult period in the economy, Biti's has changed itself constantly, making new steps to beyond the core areas and achieved a lot of success It is a typical example, if conservatives continue unchanged, not look for new steps, not innovative and beyond the enterprise itself will be pushed backwards in an era of rapidly growing speed Biti’s is a business is considered to be the oldest history of Vietnam in the footwear industry Was established in 1982 with two combinations of production is Van Thanh and Binh Tien, along with 20 workers specializing in simple rubber shoes Under the leadership of Mr Vuon Khai Thanh and Mrs Lai Khiem, Biti's was going in the right direction and become a solid brand in the shoe industry not only in Vietnam but also in the countries in the region, especially in the Chinese market, a market that the majority of enterprises in Vietnam are abandoning the lane Export market of Biti's (2015) – Source: Internet 10 plate of pasta to meet demand every day then that is what he needs because it's necessary for life However, for him, then he would like a big pasta accompanied by eggs, meat and prepared to bring the delicious feeling as well as decorated beautifully, and it is these higher condition that consumers want to be bring a sense of satisfaction and comfort Return to Biti's in a different example, if the Biti's customer previously just a durable pair of shoes to go everyday in life, it is what their customers need and select Biti's However, the era of development as well as the lives of each person improve the customer requires the products of Biti's external quality must also have more variety of designs, trendy designs That's what customers want advanced to Biti's Step 2: Design a customer – driven marketing strategy 2.1 Marketing management According to Philip Kotler, “Marketing management is the analysis, planning, implementation and control of programmes designed to bring about desired exchanges with target markets for the purpose of achieving organisational objectives." Due to the increasing competition should improve and optimize the distribution process to help reduce production costs to increase profits but still keep the price competitive with rivals Marketing management gradually became one of the most important parts of a business and in business To that, a business needs to answer two important questions: "What customers will we serve?" or also out in another way: "What’s our target market?" and "How can we serve these customers best?" 2.2 Selecting customer to serve A company must know what the customer object they will serve Of course, the leaders of companies know that they will not be served up all kinds of customers because they make sure that they cannot serve all people Instead, each company will focus on a certain customer objects to the best To answer that question, people who Marketing management divide their clients into groups called Market Segmentation, we can understand Market Segmentation that divide the market into many parts then select the part that you have the ability to serve and best exploit From that they determined what the company's target market is and what the focus of attraction and how satisfied the customers from that market, bring the best things for the target market that they determine to be in the market segment And we can understand the Target Market is certain customer segment that the business towards, 13 or in other words, the target market is the market consists of all the potential customers of the business Then, they will analysis to find out the appropriate customer objects with their business For example, Zalo established in 2012 and the market segmentation which they shaped right from the beginning was focused on the business objects, the business, the retailer to become a social network for the trade, which is why we see zalo not strong focus on web platforms that focus only on mobile applications, as well as creating the most favorable conditions for those who business to advertise on Zalo That is a segment that Zalo towards Source: Internet That is more easily seen than in Biti's, segmentation of Biti's focus strongly on customers who have intensity high shoes in the gym and go back every day, especially the children, active students To gain market share there, Biti's become the top choice because of durability, factors helped Biti's always stood for 33 years Besides selected market segments right, every business need serving clients in the best way because that is how friable retain customers, create a good relationship with customers These potential customers are not just customers who bought the product but also the ones who will introduce the product to other so to retain and acquire customers like that should have a good customer service Best And Biti's also done it, as evidenced during the last decades Vietnam, people have trusted for not only product quality but also customer service Biti's always supported their customers the most thoughtful before 14 and after purchasing the product I have bought shoes of Biti's, it was a small error by the manufacturer inside the shoes, I wear one week during error detection and I brought Biti's warranty With all devotion, Biti's has made me feel very happy and changed the new shoes One thing is for sure, I will always choose Biti's and they had a potential customer 2.3 Choosing a value proposition A company must choose a value proposition as a commitment to customers, their thoughts when mentioning the company's brand It will differentiate and position itself in the market place Businesses need to create for clients feel that they get "use value" than the cost that they put out Meanwhile, clients will not care much to price and businesses can plan to higher prices for its products Apple is a good example for this concept, the Apple product is not only good but also brings to the luxury, a superficial appreciation when customers use their product and of course the price of Apple products For Biti's, the slogan "cherish feet Vietnam" are people feel over the product, the cared for each product as well as the quality and enduring product, creating peace of mind for customers when using product Step 3: Construct an integrated marketing program that deliver superior value 15 Source: Principles of Marketing (2012) – Kotler and Armstrong Marketing-mix is understood to be the set of these Marketing methods can control such as product, price, place, promotion, that the combined business used to create the response required in the target market to achieve Marketing objectives Product is the combination "products and services" that business devoted to the target markets include: quality, features, variety, brand, packaging, size (size), design, warranty, For instance, Samsung Galaxy S7 is a product that samsung used to toward the senior market, so it come to these advanced features, the groundbreaking designs, top brand, packaged in a classy way, good customer support services and warranty packages Price is the amount that the customers have to spend to get the product Prices must correspond to the value of items, otherwise the buyer will be looking to buy the other manufacturers For milk products from TH True Milk are produced from pure milk farm and spent many purification processes milk helps bring many benefits to health With reasonable prices and quality, the TH True Milk is selected by the customer 16 Place includes various activities of the business to bring products to consumers that businesses want to reach, such as determining the distribution channel, selection of intermediaries, inventory, shipping, storage The types of Biti's footwear distributed through two payment methods is to buy products directly at the store or order online Thereby diversity in the distribution of Biti's products to the customer Besides, Biti's also had to choose the trusted intermediaries to ensure reasonable prices for the products Reserve quantities sufficient supply to customer demand Promotion means the communication activities of the value of products and convince customers of target market to buy products Promotion includes the activities of advertising, direct sale, promotion, public relations Oppo is a smartphone manufacturer in China but when set foot in Vietnam market, Oppo has made reasonable and strongly promotion progress Specifically Oppo brings a strong focus on advertising the selfie possibility that are very popular in the young Besides Oppo also invited the most famous singers in Vietnam to represent the product In addition, the product also comes a lot of incentives and promotions combined with strong communication on popular channels in Vietnam All of that has brought many customers to Oppo 17 Some of Biti’s products – Source: Bitis.com.vn We can see clearly the Marketing-mix of Biti’s First, about the product, the product of Biti’s has always known about the durability and it was confirmed by the customers in Viet Nam Durability accompanied feeling comfortable to help create a top choice for Vietnamese people Besides durability, Biti's is always growing more in design, style, to enrich more than items of Biti’s Second, about the price, Biti's has done very well in the pricing of its products, due to the target market of Biti's in Vietnam, so the application of high prices will be a barrier for most everyone, particularly especially pupils and students On Biti's website, we can easily see the prices of Biti's products agitated under 500,000 VND, an affordable price for Vietnamese people Recently, Biti’s also launched the Hunter sports shoes to compete with the Giants Nike, Adidas, However, the price is only 650,000 VND stopped The quality and reasonable price are reasons why Vietnamese people always choose Biti's, especially customers in the target market of 18 Biti's Next, on the place, as the example above, Biti’s has many modes of distribution of products to the customer in the best way as direct distribution in the store and through the intermediary agent or order online and pay at home With a distribution system consisting of hundreds of stores stretches from North to South, stable source of Biti's always fully meet the needs of customers Finally, about the promotion Biti’s has built customer care service as the promotions, consultants support customers are made to take advantage of the customer; strong product promotion on Facebook, investing in the construction of the distribution center in the direction of more advanced and professional Step 4: Build profitable relationships and create customer delight According to Cotler (2012) stated that: “Customer relationship management is the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.” Biti's has built a sustainable customer relationship throughout 33 years and they have been the trust as well as the top choice of a generation ahead Up to now, the world is growing strongly and the young are reaching up, a dynamic young generation is the future of the country, are the new customers that Biti's needs to focus on building customer relationship Biti's from a veteran brand spectacularly transformed itself to the youth not only domestically but also abroad, typical of the change that is to launch the Hunter product line Hunter is the next step of Biti's to shape the brand in the heart of the young Biti's has invested to improve the design, at the same time rejuvenating activities to youth customer segment The results are from the beginning of the year, on the social network, young people in general and in particular footwear believers constantly stir about Biti's Hunter Biti's has invested million dollars to produce domestic Hunter line This shows the continuous efforts of Biti's in high quality construction and customer relationships, especially the younger generation to the next By organizing several events at major universities in Hanoi and Ho Chi Minh City has attracted the enthusiastic participation of the majority of Vietnamese hot teen, collected information from people to help Biti's is always on track and bring the best products to customers Biti's is close chemistry, brand rejuvenation and leave a good impression with pride in the hearts of Vietnamese 19 Biti’s Hunter – Source: Internet In addition, in this section we have added two more concepts that Kotler (2012) mentions, that are: “Customer satisfaction is the extent to which a product’s perceived performance matches a buyer’s expectations.” and “Customer- perceived value is the difference between total customer value and total customer cost.” A more understandable way, the satisfaction of customers based on what the product brings compared to the expectations of the customer If the customer's expectations are high that what the products not meet expectations, customers will be disappointed And conversely, what the product brings to pass the client's expectations, they will be very happy And customer - perceived value is the difference between the benefits customers receive in comparison to those values that the client spent under rating of customers Once again we return to Biti's, throughout the years, the domestic customers want to buy sports shoes, they always have the choice from Nike, Adidas, Converse, the desire of customers to have a Vietnamese brand producing sports shoes with better appearance, but a reasonable price, and Biti's Hunter was born to meet the customer's expectations, leading to Customer satisfaction of Biti's highly Besides, the customers feel with the value that they dropped out for Biti's Hunter is worthy of what Hunter would bring, so customer-perceived value of Biti's also are rising 20 Step 5: Capture value from customers to create profits and customer equity According to Kotler (2012) stated that: “Customer lifetime value is the value of the entire stream of purchases that the customer would make over a lifetime of patronage.” To understand that we try to a calculation as follows, we default to a client of Biti's buy pairs of shoes a year and in 60 years, that person will buy 120 pairs of shoes, the average per pair of shoes is 500,000 VND then we can calculate the amount of people that used to buy shoes is 500,000 x 120 = 60,000,000 VND So Customer lifetime value for Biti's of one person is of 60 million VND Due to the financial reports of Biti's was not revealed, so we not have the specific figures of Biti's revenue in the last year but with the support of the consumers for Biti's, we can guess customer lifetime value of Biti's is very high “Share of customer is the portion of the customer’s purchasing that a company gets in its product categories.” (Kotler, 2012) Share of Customer can be understood simply as follows, for example, people were awarded large cake, then that cake is divided into five parts, each person will be a part, the part that is the market share of that person in the entire cake When Biti's transformation by focusing on youth with Biti's Hunter, in the sports shoe market Biti's would face so many other giants such as Nike, Adidas, Vans, Because Biti's just landed in this market Biti's Hunter still occupies a very small market share However, with the support of customers and the continual development of Biti's for this product line, Biti's still able to be optimistic about the market share of Biti's Hunter will be extended And finally we came up with the definition of Customer Equity So what is it? In Principles of Marketing (2012), Cotler has referred to: "Customer equity is the total combined customer lifetime values of all of the company's customers." 21 By Biti's business figures in recent years are not widely published, so we consider temporarily through the dataset in 2013, in the client and production operations, business in 2013 According to Mr Duong Hung, Deputy General Director of Biti's in 2013, Biti's continued steady growth, achieving sales of more than 2,000 billion VND Since then, the profits generated are not small and we can see how Biti's has been successful Thereby, customer equity of Biti's is very high over the years Part 2: The marketing orientation Kotler (2012) “Production concept is the idea that consumers will favor products that are available or highly affordable.” (Kotler, 2012) The specific in production concept, we will focus on the products that when customers need and want to buy the products that are available to respond to the client with an affordable price Return to Biti's with Biti's Hunter product line, there have been long time Biti's Hunter became a phenomenon among young people and the youth hunt for all templates.Biti's probably should have known that increase production earlier to the launch, any customers who want to own Biti's Hunter can be bought at the store with reasonable prices Biti's has really done well in securing sources of goods to customers whenever customers need to buy the product However, Biti's should improve technologies to produce products faster and save production costs and reduce product cost 22 Production line of Biti’s – Source: Internet According to Kotler (2012) confirmed that: “Product concept is the idea that consumers will favor products that offer the most quality, performance, and features Organization should therefore devote its energy to making continuous product improvements.” The customer always requires the best products, many features, luxury, breakthrough and advanced Understand that, businesses are always the focus on research and development, continuous product innovation to bring new things to clients Quality of life improve, especially the young customer always requires the product to be designed beautifully and personalities, trendy Biti's also understand that, they know that the durability and comfort of the product is not enough for them to continue to stand firmly in the hearts of customers forever Biti's has invested very heavily in research, product development, constantly to bring the more advanced product line more breakthroughs, to meet the increasing demand of the customers In addition, besides research and product innovation, enterprises also need to listen to customers, improve the product to best suit the customer 23 In the book priciples of marketing, Kotler (2012) made it very clear about Selling concept that: “Selling concept is the idea that consumers will not buy enough of the firm’s products unless it undertakes a large scale selling and promotion effort.” In this concept, this particular problem is the enterprises want to sell their products as much as possible, so the enterprises has progressed efficiently operating introduction, persuading customers to purchase its products by introducing and promoting the product to the customer In this example we will not talk about Biti's that will talk about a few companies specializing in the manufacture of shampoo, they want to sell their products in bulk as possible, so they conducted measures to boost sales as mobilizing employees to each customer's home to introduce their products and donate the products to try This helps clients focus more on the company's products and help the company sell more products “Marketing concept is the idea that achieving organizational goals depends on knowing the needs and wants of the target markets and delivering the desired satisfactions better than competitors do.” (Kotler, 2012) This is a very easy concept to understand that almost all companies use, this concept is specifically talking about the business always like to collect customer information to improve the products and product development tailored to the needs of customers as well as create the difference compared with rivals That is the reason why the enterprise not only in Vietnam but also in the world spend a lot of money for the collection of customer data for the purpose of improving the products and promote the brand, new product to the customers correctly Understanding the customer's tastes, needs, opinions and wishes of the customer and then devise strategies, new steps to build customer relationships That is exactly the goal which this concept towards Biti's also that, they hold many events, the product rollout, exchanging and receiving suggestions from customers to improve the product even more When launching Biti's Hunter, Biti's has organized the event at the university in Ho Chi Minh City and Hanoi with the aim not only advertise products to the target customers but also collect information to the next generation of Biti's Hunter increasingly more complete and satisfying customer expectations 24 Activities discuss about Biti's Hunter on social media - Source: Brandsvietnam “Societal marketing concept is the idea that a company should make good marketing decisions by considering consumers’ wants, the company’s requirements, consumers’ longterm interests, and society’s long-run interests.” (Kotler, 2012) Societal Marketing Concept is understood as the rain repellent long beams, support good experience in the palm of the potential customers for brand, helping them more sympathetic than other traditional Marketing methods such as advertising Through it, they also strengthen the social responsibility of the companies to build the foundations for sustainable development Besides promoting the product, enterprise want to promote its image in the eyes of customers through the operation of social responsibility and the environment Create a trust and a beautiful image of the brand in the heart of the customer Biti's with many social activities and humanities has consolidated more firmly on a Vietnamese brand is widely trusted Typical activities that Biti's offer are: Contributions building stones of Changsha, February 25 House sponsor for the program "to honor the generations of Vietnamese people to preserve Sea Island home town", disaster prevention activities and community responsibility, join child sponsorship remote areas to "relay the children to school" in The South Cat Tien Foundation, or join the support program "Spring Border - Tet sentimental" Through these social activities, Biti's really captured the hearts of Vietnamese customers Scholarship award ceremony: Embrace Vietnamese talent – Source: Biti’s Biti's, a brand that has been with customers in Vietnam for over 33 years, to the present time that brand still accounts for all heart of Vietnam clients With proper steps, change and development as well as expansion Biti's are reaching out to the world and the pride of Vietnamese people To get the results today, Biti's has gone through many difficulties and challenges, but with the understanding of our customers and look forward to always develop Biti's has developed on the powerful way Biti's is the pride of Viet Nam 26 References Biti’s (2016) About Biti’s, Available at: http://bitis.com.vn/about.html (Accessed: 11 November 2016) Giang Son (2015) Biti’s - Constantly reaching far, Available at: http://www.baogiaothong.vn/bitis-khong-ngung-vuon-xa-d118612.html (Accessed: 11 November 2016) Investopedia (2016) Marketing: What is Marketing, Available at: http://www.investopedia.com/terms/m/marketing.asp (Accessed: 11 November 2016) Kotler, P and Armstrong, G (2012) Principles of Marketing 14th edn, New Jersey: Pearson Education Nhung Nguyen (2016) Biti's Hunter - Decoding the heat Vietnamese brand on social media, Available at: http://www.brandsvietnam.com/congdong/topic/2522-Bitis (Accessed: 11 November 2016) Son Tra (2016) Biti's spectacular transformation to approaching Vietnamese youth, Available at: http://news.zing.vn/biti-s-chuyen-minh-ngoan-muc-de-den-gan-gioitre-viet-post648401.html (Accessed: 11 November 2016) The Apple Tree (2016) Zalo Marketing - Reach potential customers, Available at: http://theappletree.vn/zalo-marketing-tiep-can-khach-hang-tiem-nang-24 (Accessed: 11 November 2016) 27