25 MARKETING SOLUTIONS FOR NEW PRODUCT AT GATTNER VIETNAM

MINISTRY OF FINANCE ACADEMY OF FINANCE Student : Cao Thanh Thư Group : CQ55/ 51.01 GRADUATION THESIS TOPIC: MARKETING SOLUTIONS FOR NEW PRODUCT AT GATTNER VIETNAM Major : English for Finance and Accounting Student code : 17522202010025 Supervisor : M.A Tran Huong Giang Hanoi – 2021 Academy Of Finance Graduatinon Thesis DECLARATION I, Cao Thanh Thư, hereby declare that this thesis and the study presented in it are my own and have been generated by me as a result of my own original research Thesis: “Marketing solotions for new product at Gattner Vietnam” Hanoi, May 24th 2020 Student Cao Thanh Thư Cao Thanh Thu CQ55/51.01 Academy Of Finance Graduatinon Thesis ABSTRACT This study look at the methods of improving Marketing for new product at Gattner Vietnam company The paper aims at finding out the achievements and drawbacks in Gattner Vietnam‘s marketing activities, and more importantly, suggesting main methods to improve the efficiency of marketing at the company In order to achieve these aims, the graduation paper surveys the current performance of marketing activities in the company and point out whether it is effective or not From received results, the study argues the most practical implications at Gattner Vietnam to improve the efficiency of marketing at the company in the future years Cao Thanh Thu CQ55/51.01 Academy Of Finance Graduatinon Thesis ACKNOWLEDGMENTS I would like to express my deep gratitude to all those who have given me the possibility to complete this graduation thesis In preparing this graduation thesis, I have had generous help and advice from my teachers, my colleagues, my family and my friends I would like to express my great thanks to all of them First of all, I would like to express my deepest gratitude to my supervisor, M.A Tran Huong Giang, lecturer of Academy of Finance, for her guidance and instructions It is whole-heartedly appreciated that your great advice for my study proved monumental towards the success of this study Second, I wish to show my sincere thanks to all my teachers at Academy of Finance, who have provided me with worthy lessons throughout years of study Moreover, I am indebted to the staffs of Gattner Vietnam Company for their valuable supports during the internship I am extremely thankful and indebted to them for sharing expertise, and sincere and valuable guidance and encouragement extended to me Furthermore, I would like to send my loving thanks to my family whose great love and care in both spirit and health to encourage me to complete the thesis Last but not least, I also place on record, my sense of gratitude to one and all, who directly or indirectly, have lent their hand in this thesis Cao Thanh Thu CQ55/51.01 Academy Of Finance Graduatinon Thesis TABLE OF CONTENTS DECLARATION i ABSTRACT ii ACKNOWLEDGMENTS iii TABLE OF CONTENTS .iv LIST OF TABLES vii INTRODUCTION Aim of the study .2 Methods of the study Scope of the study Organization of the study CHAPTER 1: LITERATURE REVIEW OF MARKETING 1.1 OVERVIEW OF MARKETING 1.1.1 Definition of Marketing 1.1.2 Basic concepts of Marketing 1.1.3 Marketing Classification 1.1.4 Marketing Mix 1.2 METHOD AND CRITERIAL ASSESSING OF EFFECTIVE MARKETING IN THE COMPANY 10 1.2.1 Based on Revenue 10 Cao Thanh Thu CQ55/51.01 Academy Of Finance Graduatinon Thesis 1.2.2 Based on Customer reviews 11 1.2.3 Based on Social network indicators 11 1.2.4 Coverage of the business 13 1.3 FACTORS AFFECTING MARKETING ACTIVITIES OF COMPANY 14 1.3.1 Macro environment in marketing 14 1.3.2 Micro environment in Marketing 15 CONCLUSION CHAPTER .17 CHAPTER : MARKETING ACTIVITIES AT GATTNER VIETNAM .18 2.1 OVERVIEW OF GATTNER VIETNAM 18 2.1.1 General information of Gattner Vietnam .18 2.1.2 History of development 18 2.1.3 Organization structure 20 2.1.4 Human resource situation at the company 21 2.1.5 Product 22 2.1.6 Production .22 2.2 PRACTICAL SITUATION OF MARKETING ACTIVITIES AT GATTNER VIETNAM 23 2.2.1 Analysis of the business environment 23 2.2.2 Marketing strategies in Gattner Vietnam .25 2.2.3 Business performance of Gattner Vietnam from 2014 to 2017 .33 2.2.4 Customer reviews on new product of Gattner Vietnam 34 Cao Thanh Thu CQ55/51.01 Academy Of Finance 2.2.5 2.3 Graduatinon Thesis Market coverage of Gattner Vietnam 35 ACHIVEMENT AND LIMITATION OF MARKETING ACTIVITIES WHEN LAUCHING NEW PRODUCT AT GATTNER VIETNAM .37 2.3.1 Company’s achievements when lauching new product 37 2.3.2 The shortcomings in marketing campaign when launching a new product of Gattner Vietnam .39 2.3.3 Price restriction .39 2.3.4 Distribution restriction 39 CHAPTER 3: SOME SOLUTIONS TO IMPROVE EFFICIENCY OF MARKETING AT GATTNER VIETNAM 41 3.1 ORIENTATIONS AND OBJECTIVE FOR THE FUTURE DEVELOPMENT AT GATTNER VIETNAM .41 3.1.1 Orientation for the future development at Gattner Vietnam 41 3.1.2 Objectives for the future development at Gattner Vietnam 41 3.2 RECOMMENDATION TO IMPROVE EFFICIENCY OF MARKETING AT GATTNER VIETNAM 42 3.2.1 Solution to the production restriction 42 3.2.2 Solution to the pricing restriction 43 3.2.3 Solutions to the distribution restriction 45 3.2.4 Solutions to the promotion restriction 47 GENERAL CONCLUSION 51 REFERNCES 52 Cao Thanh Thu CQ55/51.01 Academy Of Finance Cao Thanh Thu Graduatinon Thesis CQ55/51.01 Academy Of Finance Graduatinon Thesis LIST OF DIAGRAM Diagram 3.1 Organizational structure of marketing department 50 LIST OF TABLES Table 2.1 : The business performance of Gattner Vietnam from 2014 to 2017 .33 Table 2.2: Statistics table of stores that import and sell products of Gattner Vietnam and Eurowindow 35 Table 2.3: Sales statistics at Gattner Vietnam and Eurowindow stores 36 Cao Thanh Thu CQ55/51.01 Academy Of Finance Graduatinon Thesis INTRODUCTION 1.Rationable of the study In the world economy, marketing is considered as an important tool to archive the highest profit for the business manufacturers, especially in the developed economic conditions, the producers’s fate is closely tied with the destiny of product and goods they put on the market That is why the company knows to choose the main product the use of effective tools for development is decided survival of the company Marketing in Vietnam has become very important and being taken care of over the past decade New technologies, new approaches, new ideas and channels of marketing and promotion The advent of the Internet and the development of technology broke the marketing stance into two opposing lines (traditional and digital) Thank to it, the “mission” of the marketing is expanded , broader and more comprehensive, more interactive , beyond the scope and goals of simple marketing and business .Currently, many foreign enterprises entering the Vietnamese market have failed because of their marketing strategies such as Uber,Gloria Jean’s Coffees or AirAsia When entering the Asian market five years ago, Uber was successful It has been a great success in the US market and many major cities in Europe Uber quickly entered the Southeast Asian market and in 2014 it officially entered Vietnam Uber has adopted its model of success in the US, but that does not mean its success in Vietnam and the main cause of failure is the lack of understanding of Vietnamese culture Therefore, it is extremely important to choose the right marketing strategy when launching a new product to consumers Gattner Vietnam Co.,Ltd is a 100% foreign invested company The company uses the lastest and most modern technologies of the world, has the advantage of a long experience and long-term partnerships with two traditional supplies : INOUTIC va WINKHAUS Howerer, the company entered the Vietnamese market later than competitors such as Eurowindows,EBM This is one of disadvantages and Cao Thanh Thu CQ55/51.01 Academy Of Finance Graduatinon Thesis The production of aluminum doors and glass walls is very cumbersome, how to create products with many separate parts that can be assembled together It is thanks to detachable products that transportation will be easier and customers will be able to feel more secure when they buy products without having to worry too much about the narrow stairs and corners This is important for customers to decide whether to buy or not because it is suitable for their home or not Therefore, creating products that can be easily disassembled and moved is necessary for a new customer market There are some solutions for Gattner Vietnam company to create unique and highly differentiated products: The company needs to build a team of highly skilled workers The design and creation of products must be concentrated and established a group of highly qualified professionals to both craft and create new patterns Strengthen the research of customer and market information carefully and professionally to be able to grasp the needs and information of the goods Thereby, the company will easily create suitable products to meet the needs of customers New product development work needs to be coordinated between the market research department, sales department and technical department Only then can new products meet the needs of the market, thereby meeting the needs of customers Advanced engineering and modern technology are the most powerful and primary means by which a company seeks profit Because it is the basic condition to create products with beautiful appearance and high quality, reduce production costs and improve the competitiveness of products in the market 3.2.2 Solution to the pricing restriction To create high efficiency in business , improve competitiveness and find new customers requires the company to offer the most reasonable price measures The company should adopt a flexible pricing policy, for example, the same bed product will have different prices depending on the quality of the wood and the style it is worth This helps customers get products that fit their needs and are Cao Thanh Thu CQ55/51.01 Academy Of Finance Graduatinon Thesis affordable The introduction of flexible pricing policies will help the Company attract and serve a wide range of customers In addition , the company defines a price target as profit maximization such as: the company can adopt a differentiated pricing strategy, which means that the company can divide into different geographical regions and determine the appropriate price for each area For example , to penetrate the market in low - income districts and communes , the product price will remain the same ( to avoid price conflicts with other agents and consumers ) but the Company will offer a discount voucher of 20 % for next purchase or direct gift of accompanying products: buy sliding windows and get negative latches, buy opening windows and get free handles In addition , the Company may use this discriminatory pricing policy to differentiate its customers For regular customers, maybe customers, the company will reduce the total price of the invoice by 5% For occasional customers, they will pay the full price on the invoice without any deduction Currently , the enterprise 's price is higher than that of its competitors , which is typically a competitor from China Therefore , the company needs to consider applying some solutions to reduce product costs as follows : Well organize the source of raw materials to be proactive in purchasing , without causing price pressure Associate with other companies to create a stable source of goods Have a reasonable and satisfactory regime for long-term business For example , linking with raw material suppliers , in order to achieve a stable price of input materials Avoid the situation of unstable sources of goods purchased and sold by direct agreement Improve and constantly strive to lower the consumption norm of raw materials The more perfect the norm system requires regular organization to amend the norms according to the new requirements of the production of each unit, that is, when the production conditions change, the norms must be revised accordingly Cao Thanh Thu CQ55/51.01 Academy Of Finance Graduatinon Thesis Paying attention to the organization of raw material planning to each production department team Improving the skill level of workers Educating workers on saving consciousness There is a reasonable punishment regime to encourage workers to use thriftily (rewards for saving materials, often due to improving quality and reducing the rate of waste) 3.2.3 Solutions to the distribution restriction Its distribution determines whether or not the produced product is effectively consumed.This is a very important step for sales and receiving feedback from customers as well as competitors 3.2.3.1 Choice of Distribution Channel Regarding the choice of distribution channel, Gattner Vietnam is a company whose size and financial potential is not large, choosing the most suitable distribution channel is still the completion of direct distribution to customers consumers However, the measure to well in this distribution stage requires businesses to create for themselves a highly professional direct sales team Not only is the company good at professional qualifications, but the company needs to train through sales knowledge and communication with customers Only then will the company create a good image with customers Professional sales methods , dedicated attitude and attentive service before , during and after complete installation for customers will increase the prestige of the company Besides providing the best for customers with comfortable services, direct selling also helps the company quickly catch opportunities from outside such as customers, competitors to improve further the distribution and image building of the company 3.2.3.2 Support policies In order to encourage agents to operate more effectively , the Company needs to strengthen support policies The important issue of members when participating in the business is the level of profit achieved from the sale of products, so incentives must focus on this factor first Therefore, the company should create conditions for Cao Thanh Thu CQ55/51.01 Academy Of Finance Graduatinon Thesis members to sell a lot of goods and business smoothly with the following supportive policies: Policy to reduce sales when reaching sales: Members are entitled to this regime every quarter of the year if the sales volume in the quarter is greater than or equal to the planned output that the company assigns in that quarter Specifically as follows: If: Actual volume consumed in the quarter > = Planned output of the quarter, agents will enjoy a discount rate of: 5% unit price of each product Sales volume of the company apply to members based on : consumption profile of the market in the place where the agent is located and the agent 's actual consumption at the same time of the previous year Support to train sales staff at agents The company regularly sends sales staff to survey and at the same time help dealers to add knowledge about products and provide more information about the market market , to help the staff at the dealer promptly capture the information to help them easily introduce products to customers For window and door products, customers often need advice from salespeople when buying, so fostering product knowledge and sales skills is essential for salesperson at dealers The product knowledge and service attitude of the sales force are very important factors to create trust, prestige and attraction of customers However, at present, the recruitment, training and coaching of sales staff has only been implemented by the company in the company's stores, and agents are still in charge of themselves, so sometimes the sales staff Just the delivery and collection Therefore, to help agents improve sales efficiency, the company should support agents to train and train the sales team by: regularly opening training classes, supplementing skills sales invite the dealer's sales staff to attend Every year , the company organizes good salesman contests among dealers to create sales competition and has rewards to encourage morale Through the contest, it will help local employees to ask each other's experiences, better Cao Thanh Thu CQ55/51.01 Academy Of Finance Graduatinon Thesis understand the company and products, and improve their consulting ability and ability to deal with customers In addition to material incentives, the company also needs to create other incentives in the spirit of creating more sustainable relationships between the company and agents such as: Organizing sales competitions between agents; organize special programs for agents such as: giving gifts on the agent's birthday The agent's birthday is the date on which the agency contract between the two parties is established 3.2.4 Solutions to the promotion restriction In addition to having good products , attractive and reasonable prices , appropriate distribution systems , product information issues , quality customer service and promotional mix strategies also play an important role in achieving the ultimate goal of business is profit maximization In order to better serve the demand for UPVC window products, aluminum doors the company can implement mixed promotion measures to promote product consumption The implementation of mixed promotion measures should be organized and implemented by Gattner Vietnam company as follows: 3.2.4.1 Sale promotion The company can conduct promotional programs as follows: When customers buy product at stores, the Company's agents with invoices over 10 million will be eligible to participate in the lucky draw program, the reward will be a voucher worth 500 thousand VND; million VND to use for future purchases The company can donate small items and utensils : toothpick holder , pen holder , paper bar with logo , name , company address and then give them to customers to buy goods Promotional activities when implemented need to be closely combined with advertising to get high efficiency During promotions, the Company should post full promotional information on the Company's website and fanpage (requiring participants to share the post on their personal facebook), post introductions on the Cao Thanh Thu CQ55/51.01 Academy Of Finance Graduatinon Thesis newspaper or Newspapers like Women Marketing and Family , dantri.com.vn In addition , advertising posters about promotional programs can also be outside the Company 's stores or agents to attract passersby 3.2.4.2 Direct Marketing In fact, at present, Gattner Vietnam has not paid much attention to direct marketing for its products, and has not fully exploited its capabilities, leading to low business efficiency The company needs to improve its working processes and direct marketing tools it already has As regular periodic , must change the new model of the catalog , update many new product models out Making the most of this medium is to distribute catalogs to agents, show rooms, partners and special customers quickly, efficiently, and without waste Get customer information from the sales department , the company collects from participating in trade fairs and exhibitions and some other means to call , send email , open letter to inquire , search , consult products products , introduce their products to customers The company can also assign sales department staff to agencies , organizations , schools , houses in the process of construction to introduce them to the interior products that the company is providing 3.2.4.3 Direct sale Company need to organize well the implementation of direct sales of the company With the advantage of direct distribution to consumers, this activity needs to be paid attention and planned to combine with sales distribution into advertising, building a beautiful image of the company company to customers With the advantage of having a team of qualified employees, it is very necessary and important to train more in direct sales and diplomacy, and to build the company's image while selling If you can this work, you will be able to affirm the position of the company in the minds of customers, retain customers, and create more new relationships in the future from traditional customers Actively participate in seminars and exhibitions This is an important activity not only to introduce the company's products but also to sell goods at the place of Cao Thanh Thu CQ55/51.01 Academy Of Finance Graduatinon Thesis the exhibition This activity is both highly practical Customers can see firsthand the products and services that the company provides This is the activity that creates an important first impression on the customer by seeing the quality product firsthand Participating in the fair also increases the company's ability to sell its products to many different new markets Affirming the quality and position in consumers when the black goods are real, the quality is out for customers to visit and learn more about the company The company can proceed to recruit more direct sales staff, so that these employees can go to find customers in potential areas such as urban areas,customers who are preparing to build houses , repair houses , other construction projects that have a need to use the company's products The task of this staff is to find freelance new customers and take care of old customers , combined with other departments such as the reception room , especially the design department , to give the most satisfied customer care advice The working process is to find customers, customer information to advise and introduce the company's products The customers who find this employee will advise on the company's products and work processes, bring the design staff to meet the customer for the design staff to consult, agree on the working plan and measure the status quo Then the marketing staff will quote the price, and lead to the signing of a contract with the customer and be responsible for taking care of that customer until the contract is terminated These employees will be under the management of the sales department , coordinated and paid by the sales department 3.2.4.4 Suggest other marketing solutions Proposal to establish a marketing department : Currently, the company still has a big problem that it does not have a marketing department This greatly affects the company's business results because it is not handled by a specialized department, making the efficiency low and unsatisfactory Therefore, right now the company should set up a marketing department and recruit qualified, well-trained employees The marketing department is expected to have Cao Thanh Thu CQ55/51.01 Academy Of Finance Graduatinon Thesis employees, including: manager and communications staff The marketing department has the function of planning, collecting information from the market, offering solutions and implementing marketing-related activities of Gattner Vietnam Diagram 3.1 Organizational structure of marketing department Markting Manager Market research staf Market research staf Customer service staf Republic relations staf Functions of each position in the marketing department: Marketing manager is responsible for planning and giving marketing strategies to help the company business more effectively Market research staff is responsible for receiving, collecting information, direct feedback from the market Then make a detailed report and send it to the head of the department for the most effective solution Customer service staff is responsible for operating the hotline, monitoring comments, and online information streams related to the company In addition, keep detailed customer information to have special preferential policies for longterm customers PR staff is responsible for coming up with ideas for activities to promote the company's products In addition, PR staff directly work and contact stakeholders to organize events for the company Cao Thanh Thu CQ55/51.01 Academy Of Finance Graduatinon Thesis GENERAL CONCLUSION Building a marketing strategy at businesses in the current trend is a very important and urgent issue, helping consumers know about your products quickly, greatly contributing to the success of the enterprise On the basis of theoretical foundation and practical approach to marketing activities of Gattner Vietnam in addition to the successes achieved by the current marketing policy, this work still reveals many shortcomings The company has just stopped at building and implementing marketing policies sporadically, but has not yet built for itself an effective and reasonable marketing strategy It can be said that marketing in general and marketing mix in particular is a strong bridge between businesses and their customers Enterprises want to improve profits, market share or competitiveness, it is indispensable to implement marketing mix measures And in order for marketing mix measures to be highly effective, businesses need to take appropriate measures appropriate to each time and competitive situation I hope that the implementation of the above solutions will partly help the Gattner Vietnam company improve the quality of marketing in the coming time Cao Thanh Thu CQ55/51.01 Academy Of Finance Graduatinon Thesis REFERNCES 1.Gattner Vietnam Company , Financial Statement ( 2015, 2016, 2017) M.A Ngo Minh Cach, D.r Dao Thi Minh Thanh - Ha Noi, Marketing textbook Philip Kotler - Marketing Management (fifteenth edition ) Jay Conrad Levinson, Al Lautenslager - Guerrila Marketing in 30 days Philip Kotler - Principle of Marketing ( 1980) Website: https://dictionary.cambridge.org/ Website : https://eracontent.marketing/6-yeu-to-de-danh-gia-hieu-quamarketing-cua-doanh-nghiep/ 8.Website: https://marketingmix.co.uk/ Cao Thanh Thu CQ55/51.01 SUPERVISOR’S JUDGEMENT Supervisor: MA Trần Hương Giang Student: Cao Thanh Thư Group: 51.01 Intake: CQ 55 Topic: “Marketing solutions for new product at Gattner Vietnam ” Mark: - In number: - In word: Supervisor CRITIC’S JUDGEMENT Critic: Student:Cao Thanh Thư Group: 51.01 Intake: CQ55 Topic: Marketing solutions for new product at Gattner Vietnam ……………………………………………………………………………………… ……………………………………………………………………………………… Mark: D - In number: D - In word: Critic ... future development at Gattner Vietnam 41 3.1.2 Objectives for the future development at Gattner Vietnam 41 3.2 RECOMMENDATION TO IMPROVE EFFICIENCY OF MARKETING AT GATTNER VIETNAM ... strategies Cao Thanh Thu CQ55/51.01 Academy Of Finance Graduatinon Thesis CHAPTER : MARKETING ACTIVITIES AT GATTNER VIETNAM 2.1 OVERVIEW OF GATTNER VIETNAM 2.1.1 General information of Gattner Vietnam. .. new product at Gattner Vietnam Co.,Ltd and therefore, to suggest strategies and solutions to improve and strengthen the efficiency of Marketing activities for new product at Gattner Vietnam Co.,Ltd