COURSES MARKETING MANAGEMENT TOPIC PLAN MARKETING MIX FOR PNJ IN 2022

UNIVERSITY OF TECHNOLOGY AND EDUCATION FACULTY FOR HIGH QUALITY TRAINING  COURSES: MARKETING MANAGEMENT TOPIC: PLAN MARKETING MIX FOR PNJ IN 2022 LECTURERS: TRẦN KHÁNH HOÀNG STUDENTS STUDENT ID HÀ THỊ NGỌC ANH : 19124002 KIỀU LƯƠNG TUẤN ANH : 19124044 PHẠM THỊ NGỌC GIÀU : 19124067 TRẦN THỊ NGỌC TRÀ : 19124004 NGUYỄN THỊ TÚ VY : 19124003 HO CHI MINH 2021 UNIVERSITY OF TECHNOLOGY AND EDUCATION FACULTY FOR HIGH QUALITY TRAINING  -JOB BOOKING SCHEDULE Major: Industrial Management Course: 2019 School year 2021 – 2022 Group: Class: 19124CLA NO NAME STUDENT’S COMPLETION ID RATE HÀ THỊ NGỌC ANH 19124002 100% KIỀU LƯƠNG TUẤN ANH 19124044 100% PHẠM THỊ NGỌC GIÀU 19124067 100% TRẦN THỊ NGỌC TRÀ 19124004 100% NGUYỄN THỊ TÚ VY 19124003 100% TABLE OF CONTENTS TABLE OF CONTENTS PREAMBLE CHAPTER OVERVIEW OF PNJ 1.1 About Phu Nhuan Jewelry Joint Stock Company .7 1.2 The process of formation and development 1.3 Business philosophy 10 1.3.1 Vision: 10 1.3.2 Mission 10 1.3.3 Core values 10 1.3.4 Sustainable development philosophy 10 1.4 Company position 10 1.5 SWOT Matrix: 10 CHAPTER STP: SEGMENTATION, TARGET, POSITIONING .13 2.1 S - Segmentation: .13 2.1.1 Segmentation by region/geographic region 13 2.1.2 Demographic Segmentation: 13 2.1.3 Segmentation by relationship status: .15 2.2 T – Targeting: 15 2.3 P – Positioning: 16 CHAPTER 4PS 17 3.1 Product: 17 3.2 Price: 18 3.3 Place: 19 3.4 Promotion: 20 CHAPTER BUDGET AND TIMELINE .23 4.2 Budget: 24 CONCLUSION 26 REFERENCES 27 PREAMBLE Before the threshold of integration, businesses that want to survive and develop must have the right business strategies, development strategies, market strategies, competitive strategies, and marketing strategies for the product line Creativity is suitable for the ability of the business and suitable for the actual situation of the market However, to improve the efficiency of business activities, marketing strategy is an important part of the business strategy of the business Therefore, in order to survive and develop long-term, enterprises need to carry out production and business in the direction of the market, according to customers and apply marketing to business practices Because when making business and or management decisions, people cannot lack knowledge about the market - customers and their needs, as well as how to approach customers and satisfy those needs Among the current businesses in the market, PNJ is known as one of the leading gold, silver and gemstone trading enterprises in Vietnam PNJ pursues the goal of becoming the leading jewelry manufacturing and retailing company in Asia, the number one position in the middle and high-end jewelry market segments in Vietnam When the economy integrates, people's living standards are improved, accompanied by an everchanging trend, consumers have increasingly high requirements for products in terms of quality, design and must keep up with current trends Grand Grasping that need, PNJ must find a suitable direction to affirm its position in the market Realizing the importance of PNJ's marketing research analysis, the authors are interested in learning And the authors came to the decision to plan the analysis and launch a new product line for PNJ gold, silver and gems joint stock company in 2022 The content presented by the author group in the presentation is:  Overview of PNJ  Market segmentation analysis, target market selection and product positioning (STP)  4Ps (Strategy planning and analysis)  Budget and Timeline for the company in 2022  CHAPTER OVERVIEW OF PNJ 1.1 About Phu Nhuan Jewelry Joint Stock Company Company's name:  Vietnamese name: PHU NHUAN GOLD SILVER JOINT STOCK COMPANY  English name: Phu Nhuan Jewelry Joint Stock Company  Short name: PNJ., JSC Company logo: PNJ logo – the number jewelry brand in Vietnam (Source: PNJ) - Head office: 170E Phan Dang Luu, Ward 3, Phu Nhuan District, City Ho Chi Minh, Vietnam − Telephone: (84-28) 3995 1703 − Fax: (84-28) 3995 1702 − Email: pnj@pnj.com.vn − Website: www.pnj.com.vn - Main lines of business:  Producing and trading in gold, silver, precious stones, fashion accessories, and souvenirs  Trading in watches and buying and selling gold bars  Diamond, gemstone, and precious metal inspection services  Real estate business – Stock code: PNJ 1.2 The process of formation and development On April 28, 1988, Phu Nhuan Jewelry Store was born In 1994 and 1998, PNJ established branches in two key economic centers, Hanoi and Da Nang In 1999, opening a branch in Can Tho, PNJ completed the presence of major economic centers In 2001, the brand PNJSilver was born, and in 2005 it re-launched a new image In 2004, PNJ became Phu Nhuan Jewelry Joint Stock Company PNJ won the title of Top 500 Leading Retail Enterprises in Asia - Pacific, received the First Class Labor Medal In 2005, the high-end jewelry brand CAO Fine Jewelry was born In 2008, PNJ was the jeweler and crown sponsor of the Miss Universe pageant, held in Vietnam In 2008 - 20 years of establishment, PNJ announced a new logo change PNJ became one of the 200 largest enterprises in Vietnam as announced by UNDP and was honored to receive the Third Class Independence Medal In 2009, PNJ stock was officially listed on HOSE, PNJ is the first and only jeweler listed on the stock exchange so far In August 2009, CAO Fashion One Member Limited Liability Company was established In 2012, PNJ inaugurated - one of the leading jewelry manufacturing factories in Asia Inaugurated the largest jewelry, diamond, and watch center in the whole system at 52A-52B Nguyen Van Troi, Phu Nhuan, HCMC In 2013 - 25 years of establishment, the PNJSilver brand was repositioned PNJ gold jewelry brand announced a new message "Honor true value" In 2016, PNJ launched the "I love Vietnam" collection with national spirit at Vietnam Fashion Week 2017 - PNJ is honored to accompany the APEC 2017 high-level week, promoting Vietnam's image through the APEC VIETNAM 2017 badges; PNJ won “ASIA’S BEST REPORT ON THE SDGS”, Outstanding Enterprise of the Year – ASEAN and Top Asian Retailers voted by JNA, … In 2018, PNJ marked the 30-year milestone with the largest jewelry fashion show in Vietnam, set up a set of Gold Trust medals for the U23 Vietnam team, entered the Top 50 most effective business companies in Vietnam, received the award JNA for the 4th time, times in a row, reached the Top 10 in the 100 Sustainable Development Enterprises, becoming a billion-dollar enterprise In 2019: Become the Best Retailer in the Asian jewelry industry - JNA, Top 50 Leading Brands, Top 10 Sustainable Development Enterprises, shaking hands with Walt Disney - expanding international cooperation, affirming brand reputation globally In 2020 - PNJ becomes the best enterprise in the jewelry industry in Asia - Pacific The PNJ brand is constantly increasing in value and is valued at $93.1 million by Forbes Vietnam, an increase of 18% compared to the 2019 evaluation period Timely and effective actions in the F5-fresh process of PNJ have also helped was highly appreciated and honored by Talentnet for its excellent Covid-improving HR policy 2020 also marked the birth of the new brand Style by PNJ 1.3 Business philosophy 1.3.1 Vision: As the leading jewelry manufacturing and retailing company in Asia, holding the No position in the mid-and high-end segments in Vietnam Slogan: FAITH AND STYLE 1.3.2 Mission PNJ brings pride to customers with exquisite jewelry products of outstanding quality 1.3.3 Core values Integrity - Responsibility - Quality Innovation - Engagement 1.3.4 Sustainable development philosophy Putting customer interests and social benefits in the interests of the business 1.4 Company position PNJ currently manages and operates PNJ Jewelry Factory with a total investment of 120 billion VND and a production capacity of over million products/year By the end of 2019, PNJ has developed a distribution system with 346 retail stores, e-commerce channels, and indirectly through more than 3,000 wholesale customers nationwide PNJ's products have been exported to 13 countries and regions PNJ is ranked 16th by Plimsoll World, a leading global organization specializing in providing industry reports 1.5 SWOT Matrix: Strengths (S) High technology and technique in jewelry making Experience more than 20 years in the jewelry industry Strong brand, trusted by consumers 10 PNJ decided to focus on the young and creative jewelry segments for office workers or those with a mid-range income or higher who are willing to want to own that piece of jewelry Focus on elegance, fashion, youth, and enthusiasm In recent years, PNJ has focused on women aged from 30-45 years old, providing luxury jewelry brands with unique and delicate designs However, nowadays, young people are more and more modern and want to refresh themselves with jewelry collections, this trend is most expressed on the body of office workers, radiant in the office parties at the organization, or other young people shine in festivals, weddings, weddings of women, or more narrowly, students who want to be more confident with their lives friends, lovers PNJ offers a new collection that is unique but still retains its sophistication, modernity, elegance, lightness, and freshness In addition, jewelry and fashion accessories are richly designed, with new colors, and made with different materials so that young women can confidently wear jewelry the best Customer segmentation by age and income is as follows:  Customers who are between 18 and 25 years old, have relatively low income, and not have much to spare, will mainly shop at PNJ Silver stores Customers of this group often pay a lot of attention to appearance, especially about fashion accessories, and tend to like to assert themselves, so they will be interested in the jewelry of big and famous brands  The customer group is aged from 25 to 30 years old, has a stable job, and has a good income and expenditure level The customers of this group take particular care of themselves and their appearance, interested in high-quality products Especially the jewelry accessories show the value and luxury as the jewelry lines at PNJ Gold stores  Customers aged from 30 to 45 years old, with high-income levels, or overseas Vietnamese or foreign tourists will tend to Cao fine Jewelry stores the most because they like expensive jewelry money They are followers of high-end 14 luxury jewelry lines designed specifically to show their social status and expensive expenditures to be able to own high-class jewelry save 2.1.3 Segmentation by relationship status: In the current market of wedding jewelry and couple jewelry, there are many competitors because the potential customers for this jewelry market are never limited, but it is always a fertile market where jewelry brands are on the target market PNJ continues to assert itself in this market segment with the leading position of couples' jewelry lines as well as collections for couples, still bearing the traditional features of the oriental people faithful, but the product material still features wedding jewelry from the PNJ brand with unique designs and the results of skilled artisans Besides, there are sophisticated stylized designs expressing eternal love Accompanying the wedding jewelry are the modern product lines following the trend of modern love with strong bonds designed by artisans for couples in love PNJ couple jewelry is designed to be the same or nearly the same, thereby expressing love, cohesion, and fidelity Besides, to have a harmonious combination of men and women, men's designs are often less detailed, more research, and stronger Meanwhile, designs for women are often soft, gentle, and have more details 2.2 T – Targeting: Based on the above segments as well as considering the characteristics of the products, in order to increase sales and stand firmly in the jewelry market, PNJ chooses for itself a demographic segment, specifically by age and income, especially PNJ focuses mainly on female customers aged from 25 to 30 years old, have stable jobs, and income and spending levels are above average Cause: Currently, the female population in Vietnam aged 25-30 accounts for about 4.2 million people, they are mature girls, have stable incomes, need care and beauty for yourself People who want to buy jewelry with trendy and unique designs, exuding a youthful and dynamic look, but equally solemn and elegant It can be said that the period 15 of 25 to 30 years old is the peak period of life, at that stage they always want to take care of their beautiful appearance They have many social relationships, the need to wear jewelry to confidently participate in important meetings or solemn parties is increasing In a diplomatic party or a meeting with important people, at this age they need to assert their status Elegance will be exalted not only by delicate clothing but also by jewelry In addition, the selection and coordination of jewelry items also help them show themselves as a smarter, more sophisticated person in the eyes of others Thereby, it can be seen that elegant and sophisticated jewelry is always the right choice to highlight the brilliant, splendid and mature beauty of the ladies 2.3 P – Positioning: With more than 30 years of operation in the market, PNJ has left a strong mark in the jewelry industry with impressive revenue growth Along with that, the brand value is growing stronger and gradually conquering customers throughout the three regions of the North - Central - South Just talking about jewelry, customers will immediately think of the PNJ brand and vice versa Now PNJ has built a strong foothold in the jewelry industry in Vietnam as well as in Asia Currently, PNJ's designs always have modern fashion colors, leading the trend with high-class designs, exalting the class as well as the style of the owner, not only that, PNJ always uses materials of high quality Top-quality makes women completely convinced and want to own it In the middle of the market, there is too much competition between different brands such as Doji, SJC, Bao Tin Minh Chau , although other brands always position themselves to use quality materials and suitable prices However, the design of those product lines is no longer attractive enough for young people like before Knowing that PNJ not only stops at providing quality products that meet 100% of strict international standards, the leading jewelry retail brand in Vietnam chooses to sell customers the assurance of quality products Quality assurance comes with modern designs, much more advanced designs 16 17 CHAPTER 4PS 3.1 Product: With the mission of always creating, continuously, and pioneering innovation to serve the needs of customers, affirming the unique self, the different self, the product line of the PNJ brand affirms the experiences brought It will be constantly changing, constantly changing PNJ's designs are all completely new creations, applying modern and advanced production technology Each collection is always blown into it with a contemporary breath, reflecting the diverse lifestyles and styles of many customer groups Therefore, we think that everyone can have their own “Style” Initially and basically, PNJ provided main products of gold and silver, high-class gemstones for business people, people with a high standard of living in society, and had financial expenses for jewelry lines expensive However, PNJ realizes that now a large number of female customers aged from 25 to 30 are increasing, especially girls with middle income and above, they want to own luxury jewelry, elegant, gentle, and unique, aimed at dynamic young people full of dreams and ambitions, but there are not any collections that express these meanings Therefore, PNJ decided to plan to develop a new product line to attract and meet the needs of this potential customer group PNJ named the new set of products “Shine”, this collection is meant to recreate the multi-dimensional beauty of women through delicate, light, energetic designs that always shine in every look This is also a new design trend and is becoming a fashion phenomenon favored by many stars The products of the newly developed collection are very diverse for customers including rings, necklaces, bracelets, earrings, brooches, pendants, etc., ensuring to meet the diverse needs of customers fashionistas In addition to the product lines that have attracted the attention of consumers, PNJ also constantly updates new models in accordance with modern fashion elements and today's fashion trends, especially “Shine” will be released in 2022 18 The collection “Shine” with 10k white gold material is cleverly designed to convey the beauty of youth, full of dreams, ambition, dynamism, and enthusiasm in life The delicate combination of artisan's hands with trendy design is unique for girls from 25 to 30 years old, but equally gentle, graceful, and elegant The collection includes bracelets, rings, necklaces, and earrings, very diverse designs for women to choose from So, what does PNJ's new product have the customers must love and want to own? Over the years of establishment, PNJ has done something that few other brands can do, that is, when people think of high-quality high-end jewelry, the first brand that can be said is PNJ PNJ has long built consumers' trust in the quality of the products that the company offers, which is always the best Moreover, this design is built on the elements that enhance the mature beauty of 25 to 30-year-old girls who want to assert themselves, express themselves more confident and dynamic In the pages of this “Shine” collection, besides making the highlight and attracting the target customer group of PNJ is also the message that the “Shine” collection brings 3.2 Price: It is easy to see that PNJ's new collection “Shine” was born targeting the beauty needs of the majority of women aged 25-30 with a stable income and looking for unique designs, Sophisticated but equally elegant and noble So, what is the price offered for the products of this “Shine” collection to be able to meet the needs of this age group market segment? Although PNJ initially focused on the goal of matching the income of consumers, quality is still what customers care about and want to own the best quality product, carefully selected and designed and crafted by rigorous processes and a team of highly skilled artisans And this becomes easy when PNJ always produces products that are not only beautiful and sophisticated but also have an indisputable quality Low pricing strategy has never been a strategy pursued by PNJ, so the price of this new product line of PNJ will not be cheaper than previous product lines, especially PNJ's main competitor is Doji Currently, there is a product line aimed at our target customers, which is the 19 collection "Lucky star Youth Jewelry", with prices ranging from million to million for each piece of jewelry Therefore, with this new collection in 2022, we recommend a price ranging from million to million for each piece of jewelry in the “Shine” collection (gold price may change depending on domestic and international gold prices) That is the price that is suitable with the financial ability of the target customers who are girls from 25 to 30 years old with relatively stable incomes With this price, it can be said that PNJ has used the brand-based pricing strategy and hit the customer's psychology, although the price of these new products is relatively higher than that of the competition, it is still at a high level suitable level for women who can afford this product line and it is the quality of PNJ's products that has won the trust of customers, thereby motivating customers to always be ready to buy the series' products collect “Shine” no matter how high the price And now, PNJ is completely confident that it is able to compete with competitors in terms of the quality of new products because of the brand-based pricing strategy and hit the customer's mentality “The higher the price, the better the product.” 3.3 Place: Place in the marketing mix refers to the fact that the product will be distributed in locations where customers can use the company's products According to statistics, by 2021 PNJ has developed a distribution system from north to south with 341 stores nationwide So, what has PNJ planned for its product distribution strategy in 2022? First, PNJ needs to carefully research the target market and make a decision on the location of the stores, such as customer characteristics of the target market, including age, occupation, education level intellectual, income In addition, it is necessary to study the population density, the convenience of shopping as well as ensure the display and sales so that it is easy to reach potential customers Repair and upgrade the infrastructure of existing stores to be spacious, clean, and beautiful, arrange reasonable and eye-catching signs, highlighting the company's image 20 When choosing to open a new store, it is necessary to pay attention and consider the location where they will arrange the store, the ability to compete with other brands In 2022, PNJ will continue to expand the distribution of products, focusing on large cities or areas with high education levels and developed economies, especially where many trade centers and supermarkets are located, vincom or high-end stores Those are favorable environments that can help PNJ develop its market, especially easily approach and attract more customers to know about PNJ's new products Large shopping malls are the gathering places for most potential customers at home and abroad, they often go there on weekends or holidays to buy necessary items for themselves and they will have to hesitate When seeing pictures promoting PNJ's products, you can even go directly to the store to try this new product Therefore, PNJ needs to link up with as many shopping centers as possible and this is an extremely correct distribution strategy that can bring products closer to customers that PNJ needs to promote in the coming year In the digital age, besides promoting products by building stores in potential locations, PNJ needs to expand its product distribution channels on major e-commerce channels such as Shopee, Tiki, Lazada, Sendo to be able to convey the company's new images and products to customers as quickly as possible Currently, the trend of online shopping is increasingly popular, especially among young people, who have their own jobs and busy schedules that make them not have time to go to the store to see the products in person Besides, the distribution channel management system is also established from the websites of PNJ, Facebook, Instagram, Twitter, etc Therefore, PNJ needs to continue to promote the distribution of new products on e-commerce channels above to be able to attract the most potential customers 3.4 Promotion: In the 4Ps of marketing strategy, communication is considered as a strategic policy aimed at gaining or maintaining a competitive advantage in the market One of the strengths in PNJ's marketing strategy is when it focuses on big campaigns to hit customer insights in the market It can be said that PNJ's communication campaigns always know 21 how to delve into the psychology of customers As in each collection, PNJ always conveys a deep and close-to-reality message Currently, PNJ applies many methods in communicating and promoting products such as Media advertising (TV, Magazines, Newspapers, ); Direct Response Advertising (Online advertising ); Place Advertising (Billboards and bulletins, Posters, Transit ads, Cinema ads, ); Trade and ConsumerOriented Promotions (Display and advertising allowances, Trade shows, Sample, Coupons ) One of the most popular communication methods today is media advertising, and PNJ is currently applying this advertising strategy very well PNJ is currently collaborating with many famous artists to create many media products such as photo sets, TVC advertisements published on TV, magazines, newspapers, social networking, Most recently, PNJ cooperates with artist Chau Bui in the MV "You are a jewel" which has brought the brand "Style by PNJ" closer to customers Following that success, with the "Shine" collection, PNJ will continue to cooperate with famous artists, influencers, KOLs to create communication products and reach customers Besides, PNJ also applies direct response advertising to its marketing strategy Building product introduction websites, where customers can interact directly with sales staff, helping PNJ receive customer comments, improve products and service quality Use direct mail and telephone solicitation to introduce new collections to the brand's loyal customers This is a very subtle strategy that PNJ will apply to introduce the “Shine” collection to customers while taking care of customers and introducing new products In addition, place advertising is also a strategy being widely applied by PNJ Currently, we can easily see posters introducing PNJ's products on major streets, billboards and bulletins, bus stops, cinemas, or cars with large posters of PNJ running everywhere This will be a way to bring “Shine” closer to customers, no matter who they are, they can easily know the collection Trade and Consumer-Oriented Promotions is a method that is no longer strange to marketers PNJ is no exception, PNJ once organized the campaign "Priceless gift", With a 22 lot of comments expressing consensus from viewers and discussions about the story in the clip, we continue to attract people use Facebook to the microsite Here, users will have a chance to receive a discount voucher if they follow these simple steps Participants must post a word or sentence explaining why “You are a priceless gift” The microsite reached a total of 221,595 participants with only 30% of the media budget The video became an instant hit online with a total of 2,596,525 views, 18,533 shares, and over 33,000 interactions, and 1.5 million views on the PNJ fan page alone Social media is a tool for the company to attack customers, the young age group is the customer market that PNJ's marketing strategy is aimed at “Shine” was introduced to the market at a time when society returned to a new normal after a long time of social distancing, and the demand for shopping increased PNJ will organize promotions to increase customer attraction, 50% Big sales for different types of jewelry during holidays, and 10% discount promotion for loyal customers necessary, installment with 0% interest for all jewelry items Many sweepstakes programs when buying jewelry at PNJ 23 CHAPTER BUDGET AND TIMELINE 4.1 Timeline: - New product communication strategy for 2022: • First phase (4 months): Design posters, banners, post on media sites to create curious effects for customers: create design and print posters and banners vaguely about the new collection such as some images, collection name and product launch date Then put these posters and banners at all stores nationwide to attract customers' attention At the same time, write content to post on social networking sites such as Facebook, Instagram, Twitter about the information of the collection as well as the release date to more widely disseminate to everyone about the new collection • Second phase (1 month): Direct marketing: Planning the organization for the product launch such as choosing a venue in major cities, preparing images and videos to introduce products, preparing art performances Running ads, pr for the ceremony on social networking sites such as Facebook, Instagram, Twitter, TikTok, and Youtube to create media effects Invite famous artists to be brand ambassadors to represent new product lines such as Miss Thuy Tien or Miss Do Thi Ha who have just participated in the biggest beauty contests on the planet as brand ambassadors for the new collection will create effects for the product, invite celebrities to create effects to attract attention, invite journalists to take photos and write articles Finally, they will give gifts to the guests to promote the product After the ceremony, photos of celebrities taken with the collection and product images will be promoted on PNJ's social networking site • Stage three (6 months): After product launches, promote the publication of images of the collection and create meaningful promotional videos for the new product line Run ads for products on social 24 networking sites, TikTok, Youtube, and connect with TV channels to advertise at golden hours of the day Contact major newspapers to write articles about products, write about the meaning of advertising videos to attract views on youtube Hire KOLs to make product review videos to create curiosity as well as customer confidence about the quality of the product At the same time, promoting great incentives and promotions for new product lines, widely promoting this promotion, hanging promotional posters at stores, and marketing staff directly to customers when they come to PNJ stores 4.2 Budget: Strategy marketing Activities Total Costs  Design posters, banner  Take photos and print for new Creating media publications 100.000.000 products  Create content demo VNĐ  Hire event organization services (package service)  Invite brand ambassadors  Invite celebrities, journalists  Design and print publications are New product launch events needed in the launching ceremony  Run advertising, PR before the event  Construction, design, and review before the program  Give gifts to guests 25 2.000.000.000 VNĐ  Hire KOL  Hire a Crew to shoot ads  Hire actor/singer to make a short video for Youtube  Run ads on social networking Ads through social networking sites platforms, Youtube, Facebook  Advertising contracts with TV 1.500.000.000 VNĐ channels  Hire a newspaper to write articles about the product  Discount voucher for customers  Creating media publications: 100.000.000 VNĐ  New product launch events: 2.000.000.000 VNĐ  Ads through social networking sites: 1.500.000.000 VNĐ  Costs incurred (10%): 360.000.000 VNĐ 26 3.960.000.000 VNĐ CONCLUSION To come to a final conclusion, the team went to learn about the factors that affect the development strategy that the jewelry company in Phu Nhuan district has deployed in the past time Thereby, the group found that PNJ is a big company in the field of gold, silver and gems business, it has created a strong, reputable and famous brand in the Vietnamese market as well as abroad competitive with other businesses in the same industry In order to that, the strategies PNJ chose to develop are very suitable and right for the market economy of our country today It cannot be denied that the company has made the rest of the competitors follow, with the advantages of being ahead of PNJ's marketing strategy, which is very successful in gaining achievements and advantages over competitors in the same industry Thereby, the group made a new strategic plan for PNJ with a new product line PNJ's goal in the future may be to reach further in the international market Planning for a new product line also helps to enhance the company's position to reach further in the coming time Store expansion and launch of new brands targeting specific customer segments are the aforementioned plans Producing and crafting jewelry based on the unique style of each specific customer segment is a long-term strategy of this business Therefore, Shine By PNJ will be the pioneer for this strategy, after Shine By PNJ, PNJ will continue to launch other similar brands 27 REFERENCES DOJI (n.d.) Retrieved from DOJI: https://doji.vn/ News PNJ (n.d.) Retrieved from News PNJ: https://www.pnj.com.vn/tin-tucpnj.html PNJ (n.d.) Retrieved from PNJ: https://www.pnj.com.vn/ SJC (n.d.) Retrieved from SJC: https://www.sjc.com.vn/ 28 ... In the 4Ps of marketing strategy, communication is considered as a strategic policy aimed at gaining or maintaining a competitive advantage in the market One of the strengths in PNJ' s marketing. .. Direct marketing: Planning the organization for the product launch such as choosing a venue in major cities, preparing images and videos to introduce products, preparing art performances Running... being ahead of PNJ' s marketing strategy, which is very successful in gaining achievements and advantages over competitors in the same industry Thereby, the group made a new strategic plan for PNJ