ASSIGNMENT 1 FRONT SHEET Qualification BTEC Level 4 HND Diploma in Business Unit number and title Unit 2 Marketing Planning and Processes Submission date Date Received 1st submission Re submission Dat.
ASSIGNMENT FRONT SHEET Qualification BTEC Level HND Diploma in Business Unit number and title Unit Marketing Planning and Processes Submission date Date Received 1st submission Re-submission Date Date Received 2nd submission Student Name Nguyễn Hoàng Chánh Student ID GBS210671 Class GBS1003B Assessor name Nguyễn Kim Hảo Student declaration I certify that the assignment submission is entirely my work and I fully understand the consequences of plagiarism I understand that making a false declaration is a form of malpractice Student’s signature Grading grid P1 P2 M1 M2 D1 Summative Feedback: Grade: Resubmission Feedback: Assessor Signature: Internal Verifier’s Comments: Signature & Date: Date: Contents INTRODUCTION Part 1: The Marketing Process: Step 1: Understand Market Place and consumer needs and wants: Step 2: Design a customer-driven marketing strategy: Step 3: Construct an integrated marketing program that delivers superior value Step 4: Build profitable relationships and create customer delight 10 Step 5: Capture value from customers to create profits and customer equity: 11 Part 2: How Marketing Influence & interested with other functional departments in Bitis: 11 Part 3: Vision, Mission, and Strategic objectives 13 1) Vision: 13 2) Mission: 13 3) Strategic Objectives: 13 Part 4: the internal and external environment, their influence on the marketing process of Bitis: 13 a) External Environment: 13 b) Internal Environment: 14 CONCLUSION 14 REFERENCE LIST: 15 INTRODUCTION Every second, every minute, the world expands at a breakneck speed Even if a company has great strength, the whirlwind of growth can kill it in a short period if it is run conservatively Understand that, to maintain a foothold in the market and expand the scale, not only the business world in general but also the business world in Vietnam in particular, must change and choose the correct direction Binh Tien limited liability company producing consumer goods, also known by the familiar and trusted name Biti's in the hearts of Vietnamese consumers, has been a leading enterprise in the production of shoes in Vietnam for more than 33 years, through numerous ups and downs Despite the general economic downturn, Biti's has continued to evolve, making new strides outside of its core field and achieving numerous successes It is a prime example of how businesses will be pushed back in an age of rapid growth if conservatives remain unchanged, not seek new steps, not innovate, and not go beyond themselves Biti's is a company with a long and illustrious history in the footwear industry in Vietnam Was founded in 1982 with two manufacturing lines, Van Thanh and Binh Tien, and 20 employees who specialized in simple rubber-soled shoes Biti's was heading in the right direction under the leadership of Mr Vuon Khai Thanh and Mrs Lai Khiem and had developed itself as a solid brand in the shoe industry not only in Vietnam but also in the region, particularly in the Chinese market, which the majority of Vietnamese businesses are abandoning Biti's product distribution system, which includes 07 branch offices, 156 marketing stores, and over 1,500 retail and distribution intermediaries, stretches from south to north, supplying stable jobs for over 9,000 employees Biti's and Dona Biti's Company produces over 20 million pairs of shoes per year and offers a diverse range of products in a variety of styles and models, including high-end sports shoes, fashionable women's shoes, leather shoes, and canvas shoes, EVA foam slippers, and slippers Biti's has exported to over 40 nations worldwide, including Italy, France, the United Kingdom, the United States, Russia, Japan, South America, Mexico, Cambodia, and others Biti's is also trusted by worldwide customers with wellknown brands such as Decathlon, Clarks, Speedo, Skechers, Lotto, and others to process many largevalue transactions Part 1: The Marketing Process: What Is Marketing: According to Twin (2021), As a discipline, marketing encompasses all of a company's efforts to attract customers and sustain connections with them Writing thank-you notes, playing golf with prospective clients, promptly responding to calls and emails, and meeting with clients for coffee or a meal are all examples of networking with future or past clients Marketing, at its most basic level, aims to match a company's products and services with people who desire to use them Profitability is ensured by matching products to clients Step 1: Understand Market Place and consumer needs and wants: A marketplace is a venue where sellers can come together to sell their wares or services to a select group of customers A marketplace owner's vision is to put together the proper vendors and customers to generate sales through an outstanding multi-vendor platform - suppliers have a location to gain awareness and sell their items, while the marketplace owner earns a commission on each sale The addition of a Market Place implies that clients will have access to a variety of stores where they may be exposed to products and purchase them directly That is why Biti's has 157 outlets and over 1,500 marketing intermediates for retail distribution Just only in Viet Nam It's also a part of Biti's ability to reach most customers According to Cotler (2012) stated that: “Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want." A product must be delivered to a customer's hands together with a range of elements such as product information, aftersale service such as a guarantee, paid ongoing support, quality commitment all while transporting people in the most convenient method possible Giving customers a great product is not enough, bringing satisfaction to customers, is the goal every business should aspire to be happy Consumer’s want and need are two notions that are on two separate levels that are easily defined for everyone to comprehend, yet it appears that people new to this industry are misunderstood Consumers need the fundamentals, which include clothing, nutrition, and other necessities for life and survival Besides, consumers want more interested in items in good shape than in items that they require Customers want goods that aren't necessary for survival but provide them with a sense of comfort and happiness I have an example for everyone like this when a man is thirsty, he must almost definitely need to buy a bottle of water to quench his thirst, but he wants something sweeter, so he picks a can of coke Returning to Biti's, if a Biti's customer previously only needed a durable pair of shoes to go about their daily lives, this is what they require and choose Biti's However, as the era of development progress and lifestyles improve, Biti's exterior quality products must also have a greater diversity of designs, including trendy designs Customers have advanced to Biti's because of this Step 2: Design a customer-driven marketing strategy: Marketing manager: "Marketing management is the analysis, planning, implementation, and control of programs meant to bring about desirable exchanges with target markets to achieve organizational objectives", says Philip Kotler Due to increased competition, the distribution process should be improved and optimized to assist cut production costs, enhance revenues, and keep prices competitive with competitors Marketing management has evolved into one of the most significant aspects of a company and its operations Selecting customers to serve: How can we serve these customers best? A business must understand the type of consumer object it will service Of course, business executives are aware that they will not be serviced all types of clients since they ensure that they will not be able to serve everyone Instead, each organization will concentrate on a single customer object to provide the best service To answer that question, marketing managers divide their clients into groups known as Market Segmentation We may interpret Market Segmentation as dividing the market into several pieces and then selecting the part that you can best serve and exploit That is more plainly evident than in Biti's, where segmentation focuses heavily on customers who wear high-intensity high-heeled shoes to the gym and return every day, particularly children and busy students Biti's became the best choice for gaining market share due to its endurance, which has helped Biti's stand for 33 years Apart from correctly selecting market categories, any business must provide excellent client service because this is the only method to keep customers and build a positive relationship with them These potential consumers include not just those who have purchased the goods but also those who will recommend them to others So, to keep and gain consumers like that, you must provide excellent customer service And Biti has done it as well, as proven by the fact that over the past three decades, people in Vietnam have trusted Biti for not only product quality but also customer service With all devotion, Biti's has made me feel very happy and changed the new shoes One thing is for sure, I will always choose Biti’s, and they had a potential customer Choosing a value proposition: A corporation must choose a value proposition as a commitment to customers, as well as their thoughts when the company's brand is mentioned It will set itself apart and take a distinct position in the market Businesses must make clients feel as if they are getting more "use value" for their money Meanwhile, clients will be unconcerned about pricing, and enterprises can aim to raise product prices Apple is a fantastic example of this principle; Apple products are not only good, but they also add to the luxury, a surface appreciation when customers use them, and, of course, the price of Apple items Biti's motto "cherish feet Vietnam" refers to how people feel about the product, how well it is cared for, and how long it lasts, giving customers peace of mind when they use it Step 3: Construct an integrated marketing program that delivers superior value The marketing mix is defined as the collection of marketing strategies that the combined firm can control, such as product, pricing, location, promotion, and so on, to generate the response required in the target market to meet marketing objectives The products are including quality, features, variety, brand, packaging, size (size), design, warranty, and other factors that businesses devote to target customers For instance, The Hunter design, the first child of Biti's Hunt's high-end sneaker segment, made waves in the Vietnamese shoe world at the beginning of last year Still a fashion runner, but this item "catches up" with the modern Cage design more TPU is used in the Cage section to help shape the form and provide strength to the design The price is the amount that customers must pay to obtain the product Prices must reflect the value of the items; otherwise, the buyer will look for products from other manufacturers For milk products from TH True Milk, which are produced from pure milk farms and undergo numerous purification processes, milk aids in the provision of numerous health benefits The customer chooses TH True Milk because of its reasonable prices and high quality Promotion refers to activities that communicate the value of products and persuade customers in a target market to purchase them Advertising, direct sales, promotion, and public relations are all examples of promotional activities Oppo is one of the phone companies with the most aggressive promotions when it comes to entering the Vietnamese market Oppo, in particular, places a strong emphasis on publicizing the selfie feature, which is very popular among the young Oppo also enlisted the help of some of Vietnam's most well-known singers to promote the product Furthermore, the product includes numerous incentives and combined promotions, as well as strong communication through popular channels in Vietnam All of this has attracted a large number of customers to Oppo Biti's marketing mix is visible To begin with, the product, Biti's has always been known for its durability, which has been confirmed by customers in Vietnam To help create a top choice for Vietnamese people, durability was combined with a sense of comfort Apart from durability, Biti's is constantly evolving in terms of design, style, and so on, to enrich more than Biti's products Second, in terms of price, Bitis has done an excellent job of pricing its products; however, because Biti's target market is Vietnam, high prices will be a barrier for most people, particularly students and pupils Recently, Biti’s also launched the Hunter sports shoes to compete with the Giants Nike, Adidas, However, the price is only 650,000 VND stopped The quality and reasonable price are reasons why Vietnamese people always choose Biti's, especially customers in the target market of Bitis Next, the place, as the example above, Biti’s has many modes of distribution of products to the customer in the best way as to direct distribution in the store and through the intermediary agent or order online and pay at home Step 4: Build profitable relationships and create customer delight According to Cotler (2012) stated that: “Customer relationship management is the overall process of building and maintaining beneficial customer relationships by delivering outstanding value and customer satisfaction.” Biti's has built strong relationships with customers for 33 years and they are the belief and first choice of an entire generation Up to the present time, the world is developing strongly, and the youth is rising, a dynamic young generation is the future of the country, are the new customers that Biti's needs to focus on building a relationship The results show that since the beginning of the year, young people in general, and particularly footwear enthusiasts, have been talking about Biti's Hunter on social media Biti's has put $5 million into developing a domestic Hunter line This demonstrates Biti's ongoing commitment to high-quality construction and customer relationships, particularly from one generation to the next Once again, we return to Biti's Over the years, domestic customers have wanted to buy sports shoes, and they have always had the choice of Nike, Adidas, Converse, the desire of customers to have a Vietnamese brand producing sports shoes with a better appearance but at a reasonable price, and Biti's Hunter was born to meet the customer's expectations, leading to Biti's high customer satisfaction Furthermore, customers believe that the value they paid for Biti's Hunter is worthy of what Hunter will bring, so Biti's customer-perceived value is also increasing Step 5: Capture value from customers to create profits and customer equity: To grasp this, assume a Biti client buys two pairs of shoes per year and in 60 years, that person will buy 120 pairs of shoes If the average price per pair of shoes is 500,000 VND, we can calculate the number of people who used to buy shoes as 500,000 x 120 = 60,000,000 VND So, for one person, Biti's customer lifetime value is 60 million VND Because Biti's financial reports have not been released, we not have specific figures for Biti's revenue in the previous year However, given the consumer support for Biti's, we can assume that the customer lifetime value of Biti's is very high And finally, we came up with the definition of Customer Equity So what is it? In Principles of Marketing (2012), Cotler has referred to: "Customer equity is the total combined customer lifetime values of all of the company's customers." Part 2: How Marketing Influence & interested with other functional departments in Bitis: The specific in production concept, we will focus on the products that are available to respond to the client at an affordable price when customers need and want to buy the products that are available to respond to the client Back to Biti's Hunter has been a phenomenon among young people for a long time, and the youth hunt for all templates with Biti's Hunter product line Biti's should have known to increase production before the launch, and any customers who want to own a Biti's Hunter can so at a reasonable price at the store Biti's has done an excellent job of securing sources of goods for customers whenever they need to purchase a product Biti's, on the other hand, should improve technology to introduce products faster, save money on production, and lower product costs In the book principles of marketing, Kotler (2012) made it very clear about the Selling concept: “Selling concept is the idea that consumers will not buy enough of the firm’s products unless it undertakes a large scale selling and promotion effort.” In this concept, the problem is that businesses want to sell as many of their products as possible, so they've improved their operating introduction, persuading customers to buy their products by introducing and promoting the product to them We will not discuss Biti's in this example; instead, we will discuss a few companies that specialize in the manufacture of shampoo They want to sell their products in bulk as much as possible, so they took steps to increase sales such as sending employees to each customer's home to introduce their products and donate samples to try This allows clients to concentrate more on the company's products, allowing the company to sell more “Marketing concept is the idea that achieving organizational goals depends on knowing the needs and wants of the target markets and delivering the desired satisfactions better than competitors do.” (Kotler, 2012) That is why businesses spend a lot of money collecting customer data to improve products and properly promote brands and new products to customers, not just in Vietnam but around the world Understanding the customer's preferences, needs, opinions, and desires, and then developing strategies and new steps to strengthen customer relationships That is precisely what this concept aspires to Biti's does the same thing; they host numerous events, including product rollouts, as well as exchanging and receiving customer feedback to improve the product even further Biti's Hunter was launched at a university in Ho Chi Minh City and Hanoi, with the goal of not only advertising products to target customers, but also collecting information for the next generation of Biti's Hunter to be more complete and satisfy customer expectations “Societal marketing concept is the idea that a company should make good marketing decisions by considering consumers’ wants, the company’s requirements, consumers’ long-term interests, and society’s long-run interests.” (Kotler, 2012) AIDA is an acronym for words: The thing of mind (Attention), the thing of interest (Attention), the desire (Want) and the action (Action) AIDA model is a well-known and widely used language in Campaign Marketing, Bitis to describe the stages that appear from the moment a customer becomes aware of the product/service or brand of the business until they try the product/service and make a purchase decision Part 3: Vision, Mission, and Strategic objectives 1) Vision: • Core Values: Becoming the most preferred and trusted footwear brand by users • Core objectives: Improve product quality… improve efficiency, increase the competitiveness of export products, and shift strongly from outsourcing to self-manufacturing 2) Mission: • We exist to serve customers (Biti’s - Cherish Vietnamese feet) 3) Strategic Objectives: • Continue to develop and shape the Biti's brand image - caring, understanding, and customerfriendly • Promote, develop, and expand international product export activities Part 4: the internal and external environment, their influence on the marketing process of Bitis: a) External Environment: a Technology: With today's scientific advancements, Bitis's biggest challenge is always keeping up with the latest shoe manufacturing technologies while also ensuring quality, because Bitis's target market is the EU, where the quality of the goods always comes first b Sociocultural: Vietnam is currently at the top of the list of countries with an ageing population, putting Bitis, a shoe company that caters to young people, at risk of seeing sales decline year after year c Political: The state announced a policy to reduce the tax on domestic footwear products exported to 0%, paving the way for Bitis to expand into new markets such as the EU and the US b) Internal Environment: a Supplier: More than 60% of the materials in a factory-made shoe are imported, resulting in high costs, difficulty maintaining appropriate price criteria, and difficulty diversifying products due to a lack of sufficient sources of goods b Competitor: Children's shoes: KICO (Nguyen Hoang Manufacturing and Export Service Company) is the biggest competitor, with a wide range of designs, beautiful and appealing colours, and a global distribution system province There's also the Royal Baby (Ban Mai Xanh Trading Joint Stock Company) Shoes for sports: One Member State Thuong Dinh Shoe Co., Ltd c Employees: Biti's Company currently has a staff of over 7,500 people Biti’s always attached great importance to people as the precious capital of the business and to effectively promote this precious capital, Biti's has built a strategy of training, education, training, improving professional skills, boldly investing invested to establish Biti's Training Institute with a team of lecturers who are enthusiastic about sharing and transferring experiences and have many years of working experience at the Company d Natural Environment: (BTS “Cịn Gì Dùng Đó”) In the production process of each pair of shoes, there is always a certain number of raw materials left over that cannot continue to be used With the mindset of “use whatever you have left to use", we strive to collect forgotten pieces of supplies and bring a new mission to them in a more complete form Biti's is proud to present its first "reuse" collection - "WHAT-USED", shoes created from random pieces that have a reuse rate of up to 60% and the same The sole has used a formula that recycles rubber waste from Biti's CONCLUSION Biti's, a brand that has been with customers in Vietnam for over 33 years, still accounts for all heart of Vietnam clients at the present time Change, development, and expansion are all possible with the right steps Biti's are reaching out to the rest of the world and are a source of pride for the Vietnamese people Biti's has faced many difficulties and challenges in order to achieve the results it has today, but with the support of our customers, we are confident in our ability to continue to grow Biti's has grown in a significant way Biti's is Vietnam's pride and joy REFERENCE LIST: Investopedia (2016) Marketing: What is Marketing, Available at: https://www.investopedia.com/terms/m/marketing.asp (Accessed: 11 November 2016) Biti’s (2016) About Biti’s, Available at: http://bitis.com.vn/about.html (Accessed: 11 November 2016) Kotler, P and Armstrong, G (2012) Principles of Marketing 14th edn, New Jersey: Pearson Education The Apple Tree (2016) Zalo Marketing - Reach potential customers, Available at: http://theappletree.vn/zalo-marketing-tiep-can-khach-hang-tiem-nang-24 (Accessed: 11 November 2016) Vidal, F., 2019 What Is A Marketplace? Our understanding of multi-seller businesses [online] Shopery.com Available at: [Accessed 15 April 2022] MISA AMIS 2021 Phân tích chiến lược Marketing Biti’s chi tiết [online] Available at: [Accessed 15 April 2022] ... http://bitis.com.vn/about.html (Accessed: 11 November 2 016 ) Kotler, P and Armstrong, G (2 012 ) Principles of Marketing 14 th edn, New Jersey: Pearson Education The Apple Tree (2 016 ) Zalo Marketing - Reach potential... and Strategic objectives 13 1) Vision: 13 2) Mission: 13 3) Strategic Objectives: 13 Part 4: the internal and external environment,... process of Bitis: 13 a) External Environment: 13 b) Internal Environment: 14 CONCLUSION 14 REFERENCE LIST: 15 INTRODUCTION