The perceived value of estore EATDELI towards online purchasing: The case of UboFood Vietnam Joint Stock Company

The perceived value of estore EATDELI towards online purchasing: The case of UboFood Vietnam Joint Stock Company THUONG MAI UNIVERSIY INTERNATIONAL TRAINING INSTITUTE ~~~~~o0o~~~~~ INTERNSHIP REPORT TOPIC The perceived value of e store EATDELI towards online purchasing The case of UboFood Vietnam Joint Stock Com.

THUONG MAI UNIVERSIY INTERNATIONAL TRAINING INSTITUTE ~~~~~o0o~~~~~ INTERNSHIP REPORT TOPIC: The perceived value of e-store EATDELI towards online purchasing: The case of UboFood Vietnam Joint Stock Company MAJORS: E-COMMERCE AND DIGITAL MARKETING Supervisor :Dr LE Xuan Cu Full name :NGO Thi Hai Yen Student Code :19K610127 Class :CN16-ECO2 Hanoi, 2022 ABSTRACT The Vietnamese-commerce market has been developing quickly, especially since 2013 This development benefits businesses and creates fierce competition to retain old customers As people's lives are increasingly upgraded, their desired benefits also change Perceived benefit aspects are increasingly concerned and valued by customers about their behavior The relationship between internal motivations such as spiritual benefits, trust, perceived recreational value anxiety, and loyalty behavior of customers, especially for emerging markets like Vietnam This study aims to better understand the perceived benefits of customers and the manifestations of loyalty in the context of online shopping in Vietnam and, at the same time, study the influence of anxiety on customer relationships Relationship between perceived mental benefits, online trust, recreational value, and online loyalty Qualitative research is used to develop the scale and adjust the scale and Quantitative analysis is aimed at testing the scale and testing the research hypothesis At the same time, this study also makes practical contributions to e-commerce businesses in the Vietnam market through suggestions to help companies to improve customer loyalty “Improve customer perceived value” has a strong relationship with loyalty and repurchase behavior about a product or service Customers with good perceived value, satisfaction with the product, and the ability to use it will be high However, online stores as a potential category in Vietnam customers were down in 2015, which means customers also have more choices Therefore, businesses need to provide many benefits to customers to attract new customers and retain old customers The study aims to provide a solution to improve the perceived value of the EatDeli online store for online food shopping behavior i ACKNOWLEDGMENTS Through my internship at UboFood Joint Stock Company, Hanoi, working in a good environment, I have learned a lot from practical experience and specialized terms I chose the e-store EatDeli project - a new project under development as my internship site and gained valuable experience after my internship at the company Although the time was not long, it was enough for me to contact and apply the knowledge I heard and was taught from the school in real life, helping me have a broader and more objective view of the food industry And thereby help me clearly define myself, my goals, and my path in the future During my internship at the EatDeli project, I received much help from my colleagues to have the best internship conditions Also, during my internship here, I faced many difficulties because the theory at school and the reality of work were quite different However, thanks to the support of my colleagues, I overcame those difficulties and strengthened my skills, self Theoretical knowledge learned in school I find it essential to understand customers and give them new experiences as a marketer So, I had new ideas to handle these issues and consulted with management to develop more appropriate and practical solutions to bring customers unique experiences and experimental values to continue to support the project we are developing I want to thank the teachers of the University of Commerce for directly teaching and imparting helpful knowledge - the basic foundation, which is the first step for me to step into my future career firmly Especialy, I would like to thank my supervisor Le Xuan Cu - who enthusiastically guided, edited, and commented on my report from drafting to completion Thanks to that, we were able to complete this graduation thesis Furthermore, I want to thank the Board of Directors of UboFood for giving me a valuable opportunity to practice here and for providing information to complete this research Finally, I would like to thank everyone in the marketing department who enthusiastically helped me during my internship at the company After almost three months of internship, I think it is a precious time for me to accumulate knowledge I hope the solutions I gave during the internship will be applied in practice and benefit the EatDeli project ii TABLE OF CONTENTS ABSTRACT i ACKNOWLEDGMENTS ii TABLE OF CONTENTS iii LIST OF FIGURE vi LIST OF ACRONYMS vii CHAPTER I: INTRODUCTION 1.1 CONTEXT AND JUSTIFICATION OF THE RESEARCH 1.2 RESEARCH OBJECTIVE .1 1.3 SCOPE OF THE RESEARCH 1.4 METHODOLOGY 1.4.1 Data collection methods 1.4.2 Data processing method CHAPTER II: LITERATURE REVIEW 2.1 THE BASICS OF PERCEIVED VALUE 2.1.1 Definition of perceived value 2.1.2 The role of perceived value 2.1.3 Measuring customer perceived value 2.1.4 Elements of customer perceived value 2.2 HYPOTHESES DEVELOPMENT 10 2.2.1 Relationship between perceived value and customer satisfaction 10 2.2.2 Relationship between Customer Perception of Service Quality and Customer Perceived Value 11 2.2.3 Relationship between Customer Satisfaction and Repurchase Intention .12 2.3 PROPOSING A RESEARCH MODEL 13 CHAPTER III: UBOFOOD VIETNAM JOINT STOCK COMPANY: RESEARCH OF THE FIELD VALUE OF EATDELI ELECTRONICS STORE 14 3.1 OVERVIEW OF UBOFOOD JOINT STOCK COMPANY 14 3.1.1 History of formation and development 14 3.1.2 Organizational structure 15 iii 3.2 BUSINESS PERFORMANCE .18 3.3 MARKET AND CUSTOMERS .19 3.3.1 Market of Ubofood company 19 3.3.2 Customer Of Ubofood Company 20 3.4 DESCRIPTION OF THE COMPANY’S PRODUCTS AND MARKETS 20 3.4.1 Products and services .20 3.5 OVERVIEW OF THE EATDELI PROJECT OF UBOFOOD COMPANY 21 3.6 MAIN ANALYSIS MEASUREMENT ASSESSMENT 22 3.6.1 About the company’s website 22 3.6.2 Mobile Application 23 3.7 EVALUATION OF THE PERCEIVED VALUE OF THE E-STORE EAT DELI 24 3.7.1 Current status of functional factors 24 3.7.2 Current status of Epistemic Value factor .25 3.7.3 Current status of the emotional value factor 26 3.7.4 Current status of the social value factor 27 CHAPTER IV: CONCLUSIONS AND SOME SOLUTIONS TO ENHANCE THE FEELING VALUE FOR E-STORE EAT DELI 32 4.1 CONCLUSIONS .32 4.1.1 Successes have been achieved .32 4.1.2 Unresolved problems 32 4.1.3 Cause of existence 32 4.2 SOLUTIONS TO ENHANCE THE PERCEIVED VALUE OF THE ESTORE EAT DELI 33 4.2.1 Solution about function value factor .33 4.2.2 Solution about Epistemic Value factor 35 4.2.3 Solution about emotional value factor 35 4.2.4 The solution to the social value factor 36 4.3 DISCUSSION 38 REFERENCES APPENDIX iv v LIST OF TABLES Table 3.1 The organizational structure of Ubo Food Vietnam Joint Stock Company 17 Table 3.2 The company’s revenue table from 2019-to 2021 .18 Table 3.3 First capital table at Ubo Food from 2019-2021 (unit: VND) 19 vi LIST OF FIGURE Figure 2.1 The formula for measuring perceived value Figure 2.2 Proposed research model 13 Figure 3.1 The organizational structure of Ubo Food Vietnam Joint Stock Company 15 Figure 3.2 EatDeli e-store homepage 22 Figure 3.3 List of “Prepared foods.” 23 Figure 3.4 The interface on the mobile application 23 Figure 3.5 Ordering form used by the customer .25 Figure 3.6 When customers choose to order .26 Figure.3.7 Satisfaction level of customer service staff 26 Figure 3.8 Difficulties encountered when buying goods 27 Figure 3.9 The interface of fanpage on social network Facebook of e-store Eat Deli 28 Figure 3.10 Summary of Eat Deli Fanpage from April 27 to May 24 .29 Figure 3.11 OA interface on Zalo social network of e-store Eat Deli .30 vii LIST OF ACRONYMS Numbers Acronyms Meaningful CPV Customer Perceived Value R&D Dept: Research and Development OA Office Account P.R Public Relations viii CHAPTER I: INTRODUCTION 1.1 CONTEXT AND JUSTIFICATION OF THE RESEARCH Due to the increasing influence of the Covid-19 epidemic and the growing popularity of social networks and mobile internet access, social media marketing is becoming an important channel through which businesses trade Will boost investment in e-commerce in the coming years In Vietnam, 77% of survey respondents said that they regularly learn more about different product groups while surfing the web and using social networks 79% said they would try new brands when shopping for food and fashion items The multi-channel shopping experience is significant to Vietnamese users, especially in the context of the current epidemic 82% of online shoppers say they research what they want to buy online Even while in-store, 39% of shoppers will turn to a review on social media Online shopping services increasingly occupy an essential position and are considered the focus of e-commerce activities According to economists, the online retail sector brings high revenue, solid development, and low risk Along with the potential of a young population, extensive use of social networks, and a large population, the current demand for clean food sources in Hanoi and across the country is vast; almost everyone has a need Consumers’ shopping habits and behaviors will change in the rapidly changing consumption trend, and where will they choose to shop between the traditional market and the online store? The following research provides solutions to improve customers’ perceived value of the EatDeli e-store According to AhmadRezaAsadollahi et al (2012), “Analysis of factors affecting consumers’ intention to shop online can be one of the most critical e-commerce and marketing field issues.” The study uses a model that examines the influence of perceived risk, facility, and returns policy on attitudes towards online shopping behavior and subjective norms, perceived self-esteem Ownership in behavior, specific creative domains, and attitudes about online shopping behavior 1.2 RESEARCH OBJECTIVE The study was carried out to achieve the following objectives: Firstly: Determining the components of customers’ perceived value of service quality at EatDeli Like Facebook, Eat Deli’s Zalo is also used to post articles about new products; discount codes are currently being applied However, when using Zalo to reach customers, it will not be as effective as fanpage Therefore, eat Deli chose to set up a chat group and added all of our ordered phone numbers and notices This is the best approach because customers will always remember the Eat Deli brand and easily update the exclusive offers for loyal customers 31 CHAPTER IV: CONCLUSIONS AND SOME SOLUTIONS TO ENHANCE THE FEELING VALUE FOR E-STORE EAT DELI 4.1 CONCLUSIONS 4.1.1 Successes have been achieved Through research on activities to improve the perceived value of the EatDeli online store, the company has found the following results: The company has built a marketing department and has continually innovated marketing campaigns in terms of visual content Typically, many existing customers have always trusted and supported the project since its inception Besides, the number of new customers because of the attractive promotion program should order, and new customers are introduced from the customer file of Eat Deli The company has built a solid technology operation system and a stable network system to ensure that its technology system always works smoothly, avoiding congestion when customers access it 4.1.2 Unresolved problems Online marketing activities through the social network Facebook have not been focused on investment; the content team has not posted regularly and has not gone into depth Because, in social networks, we can also reach a vast customer file Without understanding the target customer market, it will not be straightforward for the company to decide on a marketing strategy, which is easiest to reach target customers, and how to apply marketing tools best We are not taking full advantage of advertising tools The rate of access to the fan page/website is still low; the content of the advertisements has not created a highlight and image for the company and has not yet created an attraction for customers The approach to targeting customers through online advertising is not practical and has not fully brought the company's inherent potential 4.1.3 Cause of existence Objective reasons The legal environment and policies on online marketing activities in our country have not been completed In recent years, online marketing and advertising activities have constantly been developing and changing However, the relevant regulations and documents are still quite sketchy; there are still irrationalities, creating difficulties for developing online marketing activities through social networking sites in the country and businesses in particular 32 The dense appearance of ads on the social network Facebook gradually creates discomfort for consumers A Facebook representative said that because this social network was built to connect people and build relationships, Facebook has updated how news is ranked so that users have more opportunities to connect with posts with content Meaning from users, their friends, and family in the news feeds rather than promotional posts The Covid-19 pandemic has seriously affected the business activities of enterprises As a result, supply is scarce, and human resources are also reduced due to the increasing number of people infected with Covid Subjective reasons The company has not built an effective online marketing strategy Therefore, the company’s goal and direction of online marketing development are still very general and unclear Therefore, it has made it difficult to control and evaluate the effectiveness of reaching target customers Although a dedicated customer care department has been built, there is still no clear strategy to improve all the factors that affect customers’ perceived value In addition, most of them have just received basic training, not yet specialized, so employees still work in the way of doing and learning in business activities There has not been close coordination between the company’s departments in analyzing and capturing the behavioral needs and habits of the customer base This leads to not paying attention to the customer's feelings more deeply However, the company's budget still does not have much to implement long-term plans right away 4.2 SOLUTIONS TO ENHANCE THE PERCEIVED VALUE OF THE ESTORE EAT DELI 4.2.1 Solution about function value factor The first factor that strongly affects customer satisfaction is the functional value factor that contributes to customer trust and the reputation of an e-store Specific solutions to the limitation of this factor are as follows: Invest in stamps and product labels An online store must invest in product labels, giving customers peace of mind when using products This also helps consumers identify EatDeli’s brand The stamp has complete information such as the packaging date, expiry date, and product name This is possible because customers will not buy products that not provide complete information about the production date, expiry date, or other information they need to know In addition, providing labels on each product is an opportunity for 33 customers to recognize the EatDeli brand, and customers will feel more comfortable using the product We are constantly investing in technology A reasonably important factor is the level of technology, which must constantly modernize the store’s technology Selling online means being supported by technology because the volume of individual customers increases with the number of customer accounts using hundreds of thousands of social media accounts It is the only tool and means to work EatDeli continues to apply modern technology, upgrade its eyecatching website interface, connect on-net, ensure no network congestion or network errors when transacting, and update more promotions to improve competitiveness This helps EatDeli enhance service quality and win the hearts of customers In addition, apps like Grab, Go-Jek, and Baemin have millions of users So when selling on these applications, EatDeli will have the opportunity to reach millions of users without running expensive marketing and advertising campaigns These applications also have a “Mart” section for food stores; when doing business on these applications, you can save the cost of hiring a delivery team because they already have their delivery team In addition, these applications are often accompanied by promotions and discounts; Marketing promotions to attract users also save many advertising costs to attract customers to EatDeli This solution is entirely doable Investing in technology helps shorten access time, improve work quality, manage customer information well, and serve quickly and accurately 34 4.2.2 Solution about Epistemic Value factor With the use-value to promote attractiveness from the user’s point of view, it is the most important driving force to make the store attractive, thereby enhancing the customer’s commercial performance for the retailer furthermore intention to purchase at the online store Furthermore, bring benefits to users by activating customers' curiosity and creativity Open the program “Accumulate coins to redeem gifts.” Apply to every order will accumulate Coins corresponding to 3% of the order value; these coins will be deducted from the next order if the customer needs them This will stimulate customers to place many orders to receive a refund to their wallet on the application In addition to placing orders to accumulate coins, customers will accumulate 30K into the coin account when they refer friends and relatives using the application This will impress existing customers and stimulate new customers to apply because they will feel that they will benefit from buying at EatDeli With the following order, the customer can only deduct up to 50% of the existing Coins; not 100% of the existing Coins should be deducted Program to give away Organic Vegetables or buy Organic Vegetables for 1K for orders from 200K The specialty of the EatDeli e-store is food, so Organic Vegetables are always an item of interest to many female customers So this program is very affordable and does not cost too much When customers buy an invoice of 300K or more during the promotion period, they will be given 1Kg of organic vegetables, ensuring food hygiene and safety and passing strict inspection 4.2.3 Solution about emotional value factor The important goal of this solution is to create comfort, and friendlineand ss, make customers feel secure and confident when choosing to shop online at EatDeli stores If customers feel happy and comfortable when transacting online, they will order more and will recommend to friends and relatives about the EatDeli e-store Enhance after-sales care Regularly exchange and contact customers to inform customers about customer gratitude programs and active promotions After the customer successfully places an order, the customer service staff should regularly visit and ask about the product’s status, whether it has been damaged during 35 the transportation process or was delivered without the product, to take measures to deal with the problem quickly Appropriate management when there is a risk and, at the same time, creates a feeling of care for customers Classify customers according to specific groups to assign staff to take care of and manage; there are many preferential policies suitable for each group, ensuring application to all customers In particular, there must be regular incentive programs for long-time customers and loyal customers The above solutions are entirely doable However, it should not only focus on finding new customers without paying attention to after-sales care; this is a huge omission in the product sales process, making customers feel as uninterested as they were at first As a result, service and many customers have not returned 4.2.4 The solution to the social value factor According to Maslow’s hierarchy of needs, customers will focus on higher-level needs such as esteem, demonstrated, and social needs when lower-level conditions are satisfied Social values should be taken into account to meet these customer needs Stores must be convenient, eye-catching, and make customers feel respected when searching for customers EatDeli needs to coordinate and unify promotional strategies and branding to build a distinctive brand image Building a good image and constantly reinforcing its idea in customers’ hearts has a very positive impact on the evaluation of service quality of customers Make a good impression, and customers will trust and stick with EatDeli more efficiently; it is easier to evaluate service quality, maintain a strong relationship, and create many good opportunities for the store to continue growing and developing Reach new potential customers Therefore, EatDeli needs to strengthen communication activities and promote EatDeli’s products and images through strongly invested, long-term P.R and marketing strategies, bringing the EatDeli brand closer to customers More personal goods This solution is not entirely feasible, as the cost of advertising depends on the profit and financial capacity of the company Encourage existing customers, and refer new customers Due to the characteristics of an online store, it must be served so that customers feel EatDeli is reliable, reputable, and quality, from which they will have word of mouth to their relatives and friends around, improving social value for the store In addition, it is also possible to implement a program to accumulate points or have gifts 36 for existing customers when referring new customers This solution is workable The store's existing customers are many, so it is recommended that they introduce their relatives and friends to use the online food shopping service One person referring to several people will quickly increase the number of new customers This is one way to promote the store’s image and reduce costs effectively Strengthen communication, promotion, and marketing of food products online, focusing on evaluating the effectiveness of communication channels In addition, EatDeli needs to establish a department specializing in customer and competitor analysis to obtain information about competitors to make timely decisions, focusing on performance evaluation Communication channels The marketing team must be professionally selected and trained with sufficient skills in Mobile commerce is gradually becoming a popular form of shopping for Vietnamese customers Qualitative research through the phenomenological research method by group discussion confirmed the perceived benefit structures in mobile commerce in Vietnam and adjusted the scales in the study Research has shown that the perceived benefits of mobile commerce include the following factors: functional value, emotional value, intellectual value and social value, choice, shopping entertainment, and easy access The proposed solutions involve customers shopping at the point of sale application, guiding the shopping process, and creating entertainment value in shopping for customers As with other studies, despite efforts to limit the shortcomings, the study still has some limitations However, this is an opportunity to open the door for further research First, the sample size (577 observations) and the sampling method (nonprobability - evaluation) also need improvement The probabilistic sampling method and larger sample size will create higher reliability for future studies The expansion of research factors such as loyalty and purchase intention is also a direction of more profound and broader research on perceived benefits in the context of mobile commerce marketing The above solutions are feasible, promoting the image to bring EatDeli closer to customers Currently, the Marketing department needs to develop a product marketing policy and evaluate the selection of the best promotional results 37 4.3 DISCUSSION Research has shown that customer-perceived benefits include Social value, Epistemic Value, Emotional value, and Conditional value The proposed solutions are system investment, sales application, shopping process guide, and creating entertainment value in shopping for customers Online shopping has become an essential part of life today Due to the wide-ranging availability of the Internet and its widespread use, consumers are inclined to shop online Along with the rapid development of the Internet and information technology, online marketing activities develop rapidly and become more and more popular Businesses constantly look for innovative ways to implement the best strategies to drive consumers' online purchases In addition, the emotional value was also revealed to be one of the predictors of online purchases Emotions are a very diverse human state Therefore, it is necessary to take reasonable precautions to deal with this problem successfully Managers of businesses must ensure that consumers have authentic enjoyment when they shop online Therefore, managers should develop a web interface and platform that gives consumers a greater sense of interest and curiosity to continue buying online For UboFood Joint Stock Company and the EatDeli project to be able to penetrate the market, the company has determined that online marketing on mobile applications, websites, and Facebook Fanpage plays an essential role in attracting customers They are affirming its position and brand in the Vietnamese market However, many campaigns implemented still have limitations, such as unsecured human resources, Fanpage, and the website has not been invested much in advertising Hence, interaction with customers on the fan page is still low For online marketing activities to be implemented more effectively and realistically, Eat Deli needs to review and evaluate online marketing activities on social networks through existing customers and users of products and services Then, it makes more efforts, offers many development strategies, and changes every day to match the trend Hopefully, the issues analyzed in this topic: “The perceived value of e-store Eat Deli towards online purchasing: The case of UboFood Vietnam Joint Stock Company,” partly bring a new, more realistic perspective on effectively enhancing perceived value customers On that basis, the company can refer to it to choose, edit accordingly, apply the most 38 appropriate solutions for themselves, and promote the application of solutions to achieve more success As a result, they contribute to the company growing and reaching further, contributing to the joint development of the country 39 REFERENCES Davis, F D (1989) “Perceived usefulness, perceived ease of use, and user acceptance of information technology” MIS quarterly, 319-340 “How Consumption Values Influence Online Purchase Intention among…” Customer Perceived Value: “Understanding What Appeals to the Consumer” Perceived Value - Explained - The Business Professor, LLC Customer Perceived Value - Slide Team - slideteam.net Chen, Z (2003) “Consumers’ Value Perception of An e-Store and Its Impact on eStore Loyalty Intention.” Unpublished Ph.D dissertation Purdue University, West Lafayette, The Influences of Perceived Value on Consumer Purchase Intention Customer Perceived Value (CPV) Meaning, Importance & Example The Impact of Perceived Risk on Perceived Value and Purchase Intention in E-commerce 10 eatdeli.vn 11 Luận văn thạc sĩ “Nghiên cứu yếu tố tạo giá trị cảm nhận khách hàng phấn trang điểm thị trường TP.HCM” 12 Luận văn tốt nghiệp “Lợi ích cảm nhận thương mại di động với khách hàng TP.Hồ Chí Minh: Tiếp cận với khái niệm đa chiều” APPENDIX PHIẾU KHẢO SÁT Ý KIẾN KHÁCH HÀNG CỦA CỬA HÀNG TRỰC TUYẾN EATDELI/ CUSTOMER SURVEY OF E-STORE Xin chào! Tôi sinh viên đại học Thương Mại Hiện làm dự án "Nâng cao giá trị cảm nhận khách hàng cửa hàng trực tuyến EatDeli" Xin quý khách hàng vui lòng dành chút thời gian để điền vào phiếu khảo sát để giúp tơi hồn thành dự án Mọi ý kiến khách hàng mang đến ý nghĩa vô lớn công ty dự án Tất thông tin quý khách bảo mật dành cho mục đích nghiên cứu Welcome! I am a student of ThuongMai university Currently, I am working on a project, “Enhancing the perceived value of e-store EatDeli customers.” Please take a moment to fill out this survey to help me complete this project All opinions from customers mean a lot to my company and this project All your information is kept confidential and is for research purposes only ... context of online food shopping services 13 CHAPTER III: UBOFOOD VIETNAM JOINT STOCK COMPANY: RESEARCH OF THE FIELD VALUE OF EATDELI ELECTRONICS STORE 3.1 OVERVIEW OF UBOFOOD JOINT STOCK COMPANY. .. 3.3.1 Market of Ubofood company UBOFOOD is one of the first Online to Offline (O2O) models, “foreign” in Vietnam in the field of food UboFood overcomes the limitations of the standard Online model... Department of Ubo Food Vietnam Joint Stock Company The report on the production and business results of UboFood Vietnam Joint Stock Company from 2019 to 2021 makes it easy to see the company? ??s