INTRODUCTION
Rationale of the study
Vietnam is experiencing significant changes in its business environment due to global economic integration, presenting both challenges and opportunities for businesses As competition intensifies in the global market, enterprises must adopt effective competitive strategies to thrive A key approach for businesses is to implement innovative marketing strategies that enhance their product competitiveness, allowing them to establish a distinct advantage over their rivals.
The beverage sector is a crucial part of Vietnam's economy, with the country being a leading consumer of alcohol and soft drinks in Southeast Asia, presenting significant opportunities for companies like Habeco However, competition in the Vietnamese beverage market has intensified, particularly since the implementation of Government Decree 100/2019/ND-CP in January 2020, which led to a substantial decline in business performance In the first quarter of 2020, five listed companies experienced an average revenue drop of 32.4% and a staggering 97.7% decrease in profit compared to 2019 The COVID-19 pandemic further exacerbated these challenges, as Sabeco reported a revenue of VND 4,908.8 billion and a profit of VND 717 billion, nearly halving its figures from the previous year This downturn affected not only sales but also gross and net profit margins, resulting in a record negative cash flow from core business activities.
In the first quarter of 2020, Sabeco reported its largest negative value since 2017, totaling VND 1,097 billion Meanwhile, Habeco faced a record loss of nearly VND 100 billion, a stark contrast to the nearly VND 100 billion profit in the same period the previous year The company's net revenue plummeted to VND 770 billion, over a 50% decline year-on-year, despite significant investment in advertising for new beer products Additionally, the combination of losses and increased inventory led to a negative cash flow exceeding VND 1,000 billion, compared to a negative figure of VND 430 billion in the first quarter of 2019 Consequently, Habeco's cash and cash equivalents decreased from VND 1,300 billion at the start of the year to approximately VND 430 billion by the end of March.
For beverage companies like Habeco, adapting a marketing mix strategy to navigate the evolving business landscape is crucial for their growth and success The significance of developing an effective marketing mix in this new era cannot be overstated, as it plays a pivotal role in the company's overall development and competitiveness.
" Building a Marketing mix strategy at Habeco in the new era" as the MA thesis topic.
Targets of the study
This article focuses on analyzing the development of a marketing strategy for Habeco Company by assessing its current marketing situation Based on this analysis, the article proposes a comprehensive Marketing Mix strategy for Habeco to implement from now until 2025.
Object and scope of the study
- Research objects: Marketing mix Strategy for Habeco in the period 2017 -
+ Scope of space : the thesis is based on research at Habeco Company
This thesis examines Habeco's marketing strategy development from 2018 to 2020, with expert surveys conducted by the author in November 2020 to evaluate the effectiveness of these strategies.
The thesis explores the fundamental 4Ps of the marketing mix for lubricants—product, price, distribution, and promotion—while also incorporating additional elements such as people, product supply processes, and customer service.
In addition to the preface (pledge, acknowledgement, list of figures, tables) and conclusion, the thesis includes 5 chapters:
- Chapter 1: Introduction of the topic
- Chapter 2: Theoretical basis of Marketing - Mix strategy
- Chapter 4: Building the Marketing Mix strategy of Habeco Company
THEORETICAL BASIS OF MARKETING MIX STRATEGY
Overview of Marketing mix Strategy
The marketing mix refers to the strategic arrangement of marketing components tailored to each business's unique situation, enhancing its market position When these components—product, price, distribution, and promotion—are effectively coordinated to align with current market conditions, businesses can operate smoothly, minimize risks, and achieve customer satisfaction, ultimately leading to maximum profit and sustainable growth.
The marketing mix is a set of controllable marketing variables that an enterprise uses to try to elicit the desired response from the target market (P Kotler
Product is the core point in meeting the needs and wishes of consumers If the product is not good, all other marketing efforts will fail
Products are the cornerstone of every business operation Companies strive to differentiate and enhance their offerings to capture the attention of their target market, ultimately encouraging consumers to choose their products and pay premium prices.
Products can vary significantly in their degree or extent, with basic and essential goods like flour, beverages, vegetables, salt, fish sauce, and monosodium glutamate fulfilling daily needs and desires Marketing for these fundamental items presents unique challenges, yet it is crucial not to view them merely as commodities Instead, these products represent opportunities for differentiation and innovation in the market.
The selling price represents the amount customers pay for a supplier's product or service, significantly influencing customer satisfaction Pricing plays a crucial role in competitive strategies for consumer products, particularly essential goods, where price competition is prevalent Consumers tend to be highly sensitive to price changes, especially in markets with lower income levels.
Pricing stands out in the marketing mix as it directly generates revenue, unlike other elements that primarily incur costs Companies strive to maximize prices based on the level of product differentiation, as even slight changes in pricing can significantly impact profitability.
Distribution involves transporting goods from production sites to consumers through intermediate and direct channels, aiming to maximize product consumption and deliver value to customers Strategically locating products enhances customer convenience and saves time, making proximity to the customer a key factor in increasing service usage.
In addition to selecting products and pricing strategies, businesses must carefully consider their distribution channels to effectively bring their products to market A well-defined distribution policy is essential for marketing new products, focusing on the design and management of the sales network during the initial launch phase This sales network comprises various channels and participants, each contributing unique skills and reputations to ensure successful delivery of goods from manufacturers to customers.
Effective distribution channel selection is essential for a successful distribution policy It is crucial to design and manage new distribution channels that align with the product's characteristics, facilitate easy product discovery and purchase, boost sales, and foster strong customer relationships.
To enhance distribution efficiency, businesses must identify the suitable distribution type for each stage, utilizing a mix of direct and indirect channels The primary distribution strategies include exclusive distribution, selective distribution, and centralized distribution, each tailored to optimize the distribution process.
This is a collection of useful informational activities aimed at impressing and stimulating consumers in order to persuade the consumers to buy products and create prestige for businesses
Create a competitive advantage for businesses
Communicating information about the business to consumers
As a competitive weapon in the marketplace
Enterprises utilize two primary strategies, pull and push, to engage various target customer groups A pull strategy focuses on attracting and encouraging customers to purchase a company's products, while a push strategy aims to promote goods through established distribution networks to increase market presence.
To achieve the purpose of the trade promotion policy, businesses need to coordinate and use six tools: Advertising, promotion, public relations, sales force and direct marketing P Kotler (2007), p125
A talented manager is an organizer and operator who coordinates the marketing components in a common strategy to ensure the initiative in all complicated market situations Those elements are:
Marketing - mix is also known as the 4P policy - due to the abbreviation of the first 4 letters of the elements (this is the view of Professor Jerome McCarthy in the 1960s)
2.1.2 Role and duty of buidling a mix-marketing strategy
The marketing mix is a scientific approach that examines business activities involved in transferring goods and services from producers to consumers, aiming to identify effective strategies for market protection, maintenance, and development.
* The role and significance of marketing-mix in business activities of enterprises
The marketing mix is essential for businesses to thrive in the long term, enabling them to adapt to market changes and external factors It emphasizes the importance of delivering products that align with consumer needs, desires, and purchasing power, ensuring that enterprises remain competitive and responsive in a dynamic marketplace.
The marketing mix serves as a vital link between a company's production efforts and the market throughout the entire reproduction process It encompasses activities such as gathering market information, communicating business insights to consumers, researching and developing innovative products, ensuring product consumption, and delivering essential services According to P Kotler (2007), these components are crucial for effective marketing strategies.
For businesses in the consumer goods sector, ensuring product consumption is crucial for survival and growth, especially amid intense competition It is essential for goods to meet standardized quality requirements However, achieving success requires more than just maintaining quality; companies must also effectively implement subsequent strategies to thrive in the market.
Efficient distribution is crucial for enterprises to generate sales revenue necessary to cover production and operational costs Conversely, poor distribution can create business bottlenecks, potentially leading to financial difficulties and even bankruptcy This challenge affects both manufacturing and commercial enterprises involved in the distribution and circulation of goods.
8 not only what to provide to consumers in the market, but how to bring it in as well, which will determine success in the marketplace”
Content of building a marketing mix strategy
The marketing mix system aims to achieve four fundamental goals: maximizing consumption, enhancing purchasing power, ensuring consumer satisfaction, and improving quality of life A prevalent belief is that the primary objective of the marketing mix should be to elevate quality of life, best accomplished by perceiving the marketing mix as a socially influential marketing act.
2.2.1 Evaluating the company's goals and developing a marketing mix strategy
Before selecting a specific strategy, it is essential to clearly define the company's fundamental goals in alignment with its functions and mission This analysis of strategic objectives ensures that the chosen approach effectively supports the overall vision of the organization.
The company's function and mission is "a fixed statement of the company's purpose that distinguishes the enterprises from other companies" Therefore, the function and mission has the role of:
- A focal point for everyone to agree with the company's purpose and direction
- Facilitating the transformation of direction into company goals
- Facilitate the transformation of goals into specific strategies and operational measures
Company goals, derived from its function and mission, are specific objectives that can evolve over time These goals typically fall into two categories: short-term and long-term, reflecting the organization's strategic vision and adaptability.
Long-term goals (from 5 years or more, but depending on the industry or sector) are to determine large direction but do not go into details or fix specific numbers
Short-term goals (from 1 to 3 years but depending on the industry or sector) are to direct and guide specific long-term goals of the company
2.2.2.1 Analysis of the external environment
Changes in the macro environment significantly influence the dynamics of industry forces, affecting their relative strength and the overall attractiveness of a sector The macro environment consists of five key elements: Law and Politics, Nature, Economy, Technology, and Socio-Cultural Demographics.
Regarding this type of environement, several typical relevant factors are comprised of stability, tax policy, relevant laws and other policies
- Stability is often considered in such elements as the political and diplomatic conflicts of the legal institution
- Tax policy, for example, import and export tax policies, consumption taxes, income taxes will affect the revenue and profit of the business
- Related laws often refer to Investment Law, Enterprise Law, Labor Law, Antitrust Law, Anti-Dumping Law
- Policy in general implies government policies which will affect businesses, it can create profits or challenge businesses
The economic environment encompasses the overall macroeconomic conditions, the current state of the economy, government economic policies, and the anticipated future economic outlook of a country.
The macroeconomic environment significantly influences the health and prosperity of the economy, impacting various businesses and sectors It encompasses the characteristics and direction of the economy in which a company functions Key macroeconomic factors include the economic growth rate, interest rates, exchange rates, and inflation rates, all of which play a crucial role in shaping business operations and overall economic stability.
Second, refering to the status of the economy, any economy has a cycle, in each certain stage of the economic cycle, entreprises will make appropriate decisions for themselves T.T Nguyen Thiem (2004), p46
The government's economic policies significantly impact various sectors, with key measures including the Law of Basic Wage, targeted economic development strategies, and preferential policies such as tax reductions and subsidies for specific industries.
Finally, future economic outlook is analyzed by enterprises via data about the national growth rate, GDP growth rate, GDP-to-investment ratio
Every nation or political region possesses unique cultural values and social factors that contribute to its identity and growth These cultural values are fundamental to the fabric of society, promoting its existence and development As a result, cultural elements, particularly those related to spiritual traditions, are often safeguarded and preserved on a significant scale.
Technological advancements significantly influence different aspects of society, primarily through the development of innovative products and processes These changes encompass the creation of new knowledge and its transformation into tangible outputs, including products and materials As the technological landscape evolves, businesses will encounter both opportunities for growth and challenges to navigate.
The natural environment encompasses geographical location, climate, natural landscape, land, sea, mineral resources in the ground, marine forest resources, the purity of the water and air environment
There are five forces that drive competition within an industry or a sector: (1) Threats from potential competitors; (2) The level of competition among existing
12 competitors in the industry or sector; (3) Buyer's bargaining power; (4) The bargaining power of the seller; (5) Threat of substitute products M Porter (1985), p54
Figure 2.1 Model of 5 competitive forces
Potential competitors are entities poised to enter the market in the future, driven by the attractiveness of the sector or industry Their entry can create barriers for existing businesses, leading to a shared market and reduced profits for current players.
Thus, the appearance of new competitors will affect the business strategy of the company
Customers play a crucial role in the competitive landscape of a business, as their evolving demands for enhanced service quality, exceptional customer care, and value-added services continue to rise This increasing expectation positions customers as a significant competitive factor, making customer loyalty a vital asset for any enterprise.
Suppliers pose a potential threat to businesses when they have the power to increase input costs or diminish the quality of their products and services, which can ultimately harm the company's profitability.
Substitute products are distinct in name and composition yet offer consumers similar benefits to a company's offerings The emergence of these alternatives poses a risk of lowering selling prices and diminishing business profits.
The intensity of competition within an industry or sector arises from the fierce rivalry between firms, driven by challenges posed by competitors and the pursuit of opportunities to enhance market positioning.
2.2.2.3 Analysis of the internal environment
According to Fred R David, analyzing the internal environment of an enterprise should focus on the following areas of activity:
Management as disclosed in Fred R David (2006), p39, has five basic functions:
The marketing mix is a strategic process aimed at identifying and fulfilling consumer needs and desires for products or services According to Joel Evans and Barry Berman, it encompasses nine fundamental functions: Customer Analysis, Buying, Selling, Product and Service Development, Pricing, Distribution, Market Research, Opportunity Analysis, and Social Responsibility Analysis.
To develop effective strategies, it is necessary to identify the strengths and weaknesses in the financial section of the enterprise The company's solvency, debt
Tools to build a mix marketing strategy
SWOT, an acronym for Strengths, Weaknesses, Opportunities, and Threats, serves as a valuable tool for analyzing and addressing challenges in organizational management and business decision-making.
The SWOT matrix effectively organizes a business's strengths, weaknesses, opportunities, and threats, allowing analysts to identify strategic relationships among these factors This analysis leads to the development of four fundamental strategy groups tailored to enhance business performance.
S_O: These strategies are built on the strengths of the business to exploit external opportunities
S_T: These strategies are based on the strengths of the business to prevent or limit external threats
W_O : These strategies are to reduce internal weaknesses to take advantage of external opportunities
W_T : These strategies are to reduce internal weaknesses to prevent or limit external threats
The SWOT analysis matrix can be briefly explained as the following diagram:
Promoting strengths to take advantage of opportunities and business orientation
Promoting strengths to limit and avoid threats
Overcome weaknesses to take advantage of opportunities
Overcome weaknesses and get well prepared to overcome threats
Source: Nguyen Minh Tuan (2006) 2.3.2 Matrix of External Factor Evaluation (EFE)
According to Fred R David , 2006 , to build the EFE matrix one has to go through the following five steps:
Step 1: Make a list of key strengths and weaknesses that are critical to the success of your business
Step 2: Assign weights to factors according to how important each factor is to the business success of the business The weights must satisfy the following conditions: The weights have values in the range from 0 (Not important) to 1 (Very important) The sum of the weights is 1
Step 3: Rate the response of the company's current strategies to these factors on a scale of 1 to 4 in which 1: Weak response, 2: Below average response, 3: Moderate response , 4: Good response
Step 4: Multiply the weight of each factor by the corresponding score to determine the score for the importance of each factor
Step 5: Sum up all the scores for the importance of the factors to determine the total scores of weight of the matrix for the business The total score of the matrix does not depend on the number of elements in the matrix, the highest is 4 points, the lowest is 1 point If the total score is 4, it means the company responds
A total score of 2.5 indicates that a company responds to opportunities and threats at an average level, while a score of 1 signifies a weak response to these challenges.
*Application: EFE matrix of big companies like Vinamilk, Vissan will help to get EFE matrix exercises better understood
Figure 2.4 Model of analyzing business environment
* From the model of analyzing the business environment factors of HDPhi 2008
A number of factors outside the company which are drawn: law, economics, technology , social opportunity
External factors Weight Medium score
Promulgated regulations on drinking alcohol are (Law)
The economy facing high inflation (economics)
Increased price of raw material price,
More and more modern beer production technology (technology)
Having a good relationship with customers (Social)
Integration trend of the economy
2.3.3 Matrix of Internal Factor Evaluation (IFE)
According to Ngo Kim Thanh and Le Van Tam 2009, p50, IFE-Internal Factor Evaluation Matrix, is built through the following 5 steps:
Step 1: Make a list of key strengths and weaknesses that are critical to the success of your business
Step 2: Assign weights to factors according to how important each factor is to the business success of the business The weights must satisfy the following conditions: The weights have values in the range from 0 (Not important) to 1 (Very important) The sum of the weights is 1
Step 3: Rate the factors on a scale from 1 to 4 This this scale, 1: When the factor is a very weak point of the enterprise, 2: When the factor is a relatively weak point of the enterprise, 3: When the factor is a relative strong point of the enterprise, 4: When the factor is a very strong point of the enterprise
Step 4: Multiply the weight of each factor by the corresponding score to determine the score for the importance of each factor
Step 5: Sum up all the scores for the importance of the factors to determine the total weight of the matrix for the business The total score of the matrix does not depend on the number of elements in the matrix, the highest is 4 points, the lowest
A score of 24 indicates 1 point If the overall score exceeds 2.5, it signifies that the enterprise possesses strong internal capabilities Conversely, a total score below 2.5 suggests that the enterprise is internally weak.
*From the model of analyzing business environment factors by HDPhi 2015, a number of internal factors of the business can be drawn as follows: products, customers , finance, union
Internal factors Level of importance
A team of young, dynamic sales staff and engineers, closely linked with customers (product)
There is a fairly large system of loyal customer in the field of beverage production and distribution (client)
Having efficient performance of production and business over the years of 2017-2019
Having stable and reasonably structured financial resources for production and business activities (financial)
Having a good reputation and brand in
Products are not diversified (products)
Activities of Marketing department, especially R&D activities, have not been promoted
Mainly concentrated in the northern provinces, the market has not been expanded,
The management is still stagnant, affected by the old management regime (Union)
The competitive image matrix is designed to facilitate comparative assessments of a company against its key competitors within the same industry, focusing on factors that influence competitiveness To create this matrix, five essential steps must be followed.
Step 1: Make a list of about 10 key factors that have an important influence on a company's competitiveness in the sector
Step 2: Rank the importance from 0.0 (Not Important) to 1.0 (Very
Important) for each factor The importance of each factor depends on how much it
26 affects the company's competitiveness in the sector The sum of the importance scores of all factors must be 1.0
Step 3 : Determine a weight from 1 to 4 for each factor, the weight of each factor depends on the company's ability with the factor, where 4 is good, 3 is above average, 2 is average , 1 is weak
Step 4: Multiply the importance of each factor by its weight to determine the scores of the factors
Step 5: Sum up the scores of all factors to determine the total score of the matrix
To evaluate the company's competitiveness, the total score will be compared with that of key competitors in the industry.
The application of CPM matrix has been seen in a number of large corporations, for example, Coca Cola and Vinamilk,
L eve l o f im po rt an ce
The evaluation score of importance is crucial for assessing the significance of various factors It serves as a key metric in determining priorities and guiding decision-making processes Understanding the evaluation score allows for more informed choices and effective resource allocation.
Knowledge and experience of the sector and customer
3 Market share and growth potential
4 Quality of products and services
2.3.5 Matrix Method of Boston Consulting Group (BCG)
The Boston Consulting Group (BCG) matrix, created by the prominent US management consulting firm, aids large companies in evaluating the performance of their strategic business units (SBUs) This tool assists managers in making informed decisions about capital allocation and assessing the company's financial position The matrix is structured as a four-square table, providing a clear visual representation of SBU performance.
The horizontal axis represents the relative market share of the Strategic Business Unit (SBU), calculated by comparing the SBU's sales to those of its leading competitor.
RESEARCH METHODS
Research status related to the topic
Developing a Marketing Mix strategy is crucial for businesses in today's market economy, particularly as Vietnam's economy becomes more integrated with the global landscape This topic has been widely discussed in various seminars, books, newspapers, and magazines, highlighting its importance from multiple perspectives and in diverse contexts.
The marketing mix is essential in guiding marketing activities and shaping the overall strategy for value creation within an enterprise (Kotler & Armstrong, 2012) The composition of the marketing mix varies depending on whether the product offered is a physical good or a service, highlighting the need for tailored approaches in each case.
The marketing mix, often referred to as the 4Ps, encompasses four essential components: product, price, place, and promotion Each element plays a crucial role in the overall strategy for effectively marketing a product.
The marketing mix for services has evolved beyond the traditional 4P framework to include three additional components: people, physical evidence (facilities), and process (procedure) Together, these elements create a comprehensive 7P marketing mix that enhances the service marketing strategy.
Habeco, a beverage production company, employs a marketing mix strategy that includes product, price, place, and promotion However, the company faces significant limitations in its place and promotion strategies, leading to challenges in advertising and market expansion in recent years.
In the study conducted by Wahab et al (2015) titled "Building a Marketing Mix Strategy at Samsung Corporation," the authors employed both qualitative and quantitative research methods to identify four key factors that serve as independent variables in the marketing strategy development.
The marketing mix, encompassing product, price, place, and promotion, plays a crucial role in enhancing customer loyalty, with customer satisfaction serving as an intermediary effect Wahab et al emphasize the importance for businesses to prioritize customer needs and preferences to foster long-term relationships Understanding the elements of the Marketing Mix is essential for attracting customers and influencing their purchasing behavior This study aims to develop a Marketing Mix strategy for Samsung while exploring the connection between the Marketing Mix and customer loyalty, mediated by customer satisfaction Findings indicate that effective Marketing Mix elements can reveal what customers seek, ultimately boosting loyalty and satisfaction Additionally, the author proposes a new Marketing Mix strategy for Samsung, focusing on a smartphone line that utilizes AI to enhance user interaction.
A study conducted by Kanoga in 2016 at Kenyatta University examined the influence of the Marketing Mix dimensions on the performance of shopping malls in Nairobi City County, Kenya The research identified seven key elements of the Marketing Mix—product, distribution, price, promotion, people, physical evidence, and process—that significantly impact customers' purchasing decisions and, consequently, the overall business performance of shopping centers in Nairobi The study aimed to assess how these Marketing Mix elements affect shopping mall performance Utilizing a stratified sampling design to determine the sample size, the research employed simple random sampling to select respondents among shoppers and renters Primary data was gathered through a structured questionnaire, and a descriptive study design was implemented.
The author conducted a study surveying 19 shopping centers in Nairobi County, utilizing multiple regression analysis to analyze the data The findings from the univariate linear regression indicate a significant outcome.
The study established a significant relationship between predictor variables and performance at a 95% confidence level, leading to the conclusion that shopping center managers should integrate Marketing Mix strategies into their corporate plans This approach is essential for attracting and retaining shoppers, enhancing service delivery quality, and ultimately influencing customer purchasing decisions Furthermore, it is crucial for managers to focus on promoting and developing employee quality within malls, as this directly impacts service delivery and overall customer satisfaction.
A study by Yukti Sharma et al (2018) titled "Building a Marketing Mix Strategy for Core Food Items in Delhi's Urban Living Market" investigates how the four elements of the Marketing Mix—product, price, location, and promotion—affect consumer buying behavior in low-income urban areas The research aims to develop a Marketing Mix strategy tailored to core food items and assesses their influence on purchasing decisions Conducted through pre-testing and instrumental surveys among 600 respondents in high-density slums of Delhi, the findings reveal that Marketing Mix factors account for 64% of the variation in consumer spending on core food items, while 36% remains unexplained This study provides valuable insights for scholars, policymakers, and practitioners in the Bottom of the Pyramid (BOP) market, highlighting effective strategies for enterprises in the food industry to engage low-income customers.
Nguyen Van Dung (2016), had an article presenting an overview of building marketing strategies for Vietnamese businesses during the economic crisis, Vietnam
Economic Times, No 116, pp 24-26 From the general theories of marketing
This article examines the Marketing Mix strategy and communication approaches for foreign businesses in Vietnam and globally, focusing on the beverage industry The author analyzes the current Marketing Mix activities of Vietnamese enterprises and proposes solutions to enhance these strategies However, the research is limited as it does not identify specific businesses within the beverage sector or develop a tailored Marketing Mix strategy for any particular company.
In her 2017 doctoral thesis, "Building a Marketing Mix Strategy for Unilever in Vietnam," Nguyen Mai Anh explores fundamental theories of marketing strategy and the Marketing Mix The research delves into specific theoretical aspects related to marketing strategies in the cosmetics sector, including content, methods, characteristics, and influencing factors Additionally, the study provides a comprehensive analysis of Unilever's current marketing situation, identifying underlying causes and proposing solutions to enhance its marketing mix strategy by 2025.
In "Modern Communication Marketing Theory" by Pham Hai Chung, published by the Academy of Journalism and Propaganda in 2017, the author outlines essential theories related to marketing activities and the development of a Marketing Mix strategy The book provides a comprehensive framework for enterprises to establish effective marketing strategies, emphasizing the critical steps involved in this process Additionally, Chung highlights the importance of developing tailored Marketing strategies and Marketing Mix approaches, particularly for businesses in the beverage industry.
In "Strategic Management" by Pham Thi Lan Phuong, published by Financial Publishing House in 2012, the author outlines key strategies for managing Marketing and Marketing Mix specifically tailored for small and medium-sized enterprises The proposed solutions include selecting appropriate communication channels that align with the business's operational model, establishing a dedicated department to initiate and sustain these communication channels, and ensuring effective management practices.
36 enterprises management members directly work with employees to set goals to strive for brand development, (iv) evaluating the results of communication activities independently and objectively
Research gap
Currently, at Habeco, the activity of building a marketing mix strategy has not been systematically implemented with many limitations, especially in the analysis of macro market and industry environment
Current studies on marketing strategy and Marketing Mix often address common issues and propose solutions tailored to specific contexts, aiming to enhance communication efforts in various organizations However, there is a noticeable gap in research focused on developing a Marketing Mix strategy specifically for Habeco in the contemporary landscape The author's chosen topic is unique, offering both theoretical insights and practical implications that can significantly contribute to the growth and development of Habeco's marketing activities.
Habeco operates in a competitive business environment where it faces limitations compared to its rivals The company is well-regarded in the northern market, benefiting from a strong reputation and extensive experience in beverage production Despite these strengths, Habeco encounters challenges in marketing, human resources, management, and financial capabilities To provide a comprehensive evaluation of Habeco's strengths and weaknesses, a detailed SWOT analysis will be conducted in Chapter 2 of this study.
Research Methods
The research thesis is based on descriptive research method with direct interview technique and analysis of data collected at accounting, planning and sales departments in Habeco
The author engages in an insightful dialogue with six company managers, exploring their evaluations of the implemented marketing policies Through open-ended questions, the discussion reveals their assessments of each strategy's effectiveness and impact on the company's overall performance.
38 component of marketing mix activities andthe factors affecting the marketing mix strategy including macro factors and micro factors
The author employs direct interviews with administrators and personnel from sales, marketing, accounting, and finance departments to gather essential information This includes insights into the company's market research activities, historical business operations, and future development strategies.
The planning and sales departments gather essential data from various sources, including accounting and marketing documents, as well as reports from 2018 to 2020 This information is derived from business result reports, marketing activity reports, year-end summaries, and market analysis research conducted by Habeco, utilizing newspapers, magazines, and online resources for comprehensive insights.
Quantitative research involves the systematic collection and analysis of market data to derive conclusions using statistical methods This approach is particularly effective for studying attitudes, opinions, and behaviors of individuals, allowing researchers to generalize findings from a sample group to a broader population Data collection methods in quantitative research are typically structured and include various survey formats, such as online, paper, mobile, and email surveys.
Quantitative research focuses on utilizing theories and inferences to quantify and measure research factors, allowing for the examination of correlations between variables through statistical analysis.
Quantitative data analysis involves the application of statistical techniques to summarize data, identify patterns, and explore relationships between variables This method enables the creation of reports that present clear and actionable insights, facilitating informed decision-making.
Descriptive statistics play a crucial role in enhancing the precision of key decision-making processes This type of statistics encompasses various methods focused on data collection, summarization, presentation, calculation, and description, all aimed at providing a comprehensive overview of the research subject.
Inferential statistics encompasses techniques for estimating and analyzing relationships between various phenomena, allowing researchers to predict outcomes and make informed decisions based on data collected from sample observations.
Quantitative data analysis offers significant advantages, primarily through its scientific objectivity, as it relies on statistical analysis rooted in mathematical principles This makes quantitative research an effective method for testing proposed hypotheses Additionally, the high reliability and representativeness of quantitative research allow for the generalization of results to the broader population Lastly, the rapid analysis facilitated by analytical software enables the quick and accurate processing of large data sets, reducing the potential for human error in data handling.
Quantitative data analysis has notable limitations, particularly in its inability to fully elucidate human behavior Researchers may overlook critical details by concentrating too heavily on testing hypotheses, which can lead to subjective biases Furthermore, discrepancies in understanding questions can arise if respondents interpret them differently than intended, resulting in varied responses Additionally, the structured nature of quantitative research often precludes interviewers from providing clarifications or further explanations, potentially leading to contextual errors that skew results This method assumes that behaviors and attitudes remain constant across different contexts, yet responses can fluctuate significantly based on situational factors Overall, quantitative research employs complex methodologies that may not capture the nuances of human behavior effectively.
Quantitative research typically requires more time for designing the study due to its need for larger sample sizes, which are essential for generalizing findings to a broader population Consequently, the costs associated with conducting quantitative studies are often significantly higher compared to qualitative research.
This article presents a questionnaire featuring 12 questions derived from expert insights, customer feedback, and competitor analysis The survey focuses on key aspects such as product attributes, pricing strategies, quality assessment, customer preferences, and media advertising effectiveness.
The quantitative survey aims to assess customer satisfaction regarding product aspects such as quality, packaging, and price Conducted through a Google form shared via platforms like Facebook, Zalo, Viber, and Messenger, the survey collected responses from 101 participants of diverse ages and genders All data was processed using Google Drive to ensure accurate analysis.
Hereby is the form of the survey:
Consumers of Habeco beer products
1 Which age range are you?
3 Have you ever drunk Habeco beer (Habeco)?
4 How many bottles of Hanoi beer (Habeco) do you drink per week?
5 How have you known about Hanoi beer products (Habeco)?
6 What is your general comment about Hanoi beer?
7 How do you feel about the flavor of Habeco beer?
8 Does the color of beer make you feel the beer taste better?
9 Which factors has impressed you with Habeco beer ?
10 Does the product satisfy your initial needs?
11 How do you think about the current price of Habeco (Hanoi) beer ?
12 If the price of Habeco beer (Hanoi) increases by 10-15% compared to the present, would you continue to buy it?
1.Which range of age are you?
10 Does the product satisfy your need?
11 How do you think about the current price of Habeco beer (Hanoi)?
12 If the price of Habeco beer (Hanoi)increases by 10-15% compared to the present, would you continue to buy it?
Survey data on Hanoi beer users (Habeco)
1 Which age range are you? A.Under 18
2 What is your gender? A.Male
3 Have you ever drunk Hanoi beer
4 How many bottles of Hanoi beer
(Habeco) do you drink per week?
A Less than 1 B.From 1-3 C.From 4-6 D.From 7-9
5 How have you known about Hanoi beer products (Habeco)?
6 What is your general comment about
A.Delicious B.Normal C.Not very good D.Absolutely not delicious
7 How do you feel about the flavor of
A Fragrant B.Normal C.Not very fragrant
8 Does the color of beer make you feel the beer taste better?
9 Which factors has impressed you with
10 Does the product satisfy your intial needs?
11 How do you think about the current A Expensive 8.9
45 price of Habeco (Hanoi) beer ? B.Normal, acceptable
12 If the price of Habeco Hanoi beer increases by 10-15%, compared to the current one, will you continue to buy it?
B Probably still buy C.Will not buy