(Luận văn học viện tài chính) some marketing solutions to improve the competitiveness of confectionery products of hoang mai trading and production company limited

Graduation thesis Academy of Finance LIST OF ABBREVIATIONS Hoang Mai Trading and Production Company Limited: Hoang Mai P&T Co.,LTD Student: Phung Thi Hai Yen Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance LIST OF TABLES AND CHARTS Diagram 1: The management system of Hoang Mai Trading andProduction Company Limited……………………………………25 Table 1: The income statement of Hoang Mai Trading and Production Company Limited 2013-2015 …………………………………… 30 Table 2: The rotatory of products of Hoang Mai P&T Co.,LDT…… 32 Table : Financial situation of Hoang Mai P&T Co.,LDT………… 34 Table 4: Product structure of Hoang Mai P&T Co., LTD…………….37 Table 5: Compare the price of competitor’s confectionery items…….41 Diagram 2: The distribution channel of Hoang Mai Trading and Production Company Limited………………………………… 43 Table 6: Budget allocation of promotion tool of Hoang Mai Trading and Production Company Limited…………………………………………44 Student: Phung Thi Hai Yen Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance INTRODUCTION Rationale of the study After many years of economic reforms, Vietnam has strongly changed and mobilized to market mechanism under the management of the Government With the open economy, enterprises can self-control their business It is a good opportunity for businessmen to control and develop their enterprises Fair trade enables vendors and manufacturers to offer the best products to a broader array of customers and consumers At the same time, it brings about competition among business It is, therefore, vital for companies to improve their competitiveness in the race to earn their position in this open market In order to obtain the highest efficiency, companies need to consider their product’s quality, the reputation of business, and trade condition And companies have to find ways to organize marketing activities effectively as well as improve competiveness of enterprises If they not marketing well, they will have a lot of difficulties in their business activities, especially in the fierce competition environment at present In this situation, Hoang Mai Trading and Production Company Limited has found that marketing is a good solution to associate and create competitiveness for its company Marketing activities not only attract customers but also help company consume products better to improve the efficiency of company From this view, I have studied about marketing and I would like to raise the topic : “ Some marketing solutions to improve the competitiveness of confectionery products of Hoang Mai Trading and Production Company Limited” Student: Phung Thi Hai Yen Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance Aims of the study The study aims at: Basing on situation of marketing activities of Hoang Mai trading and production company limited, suggesting solutions to improve competitiveness of the company Scope of the study As mentioned above, the thesis concentrates on the marketing solutions to improve the competitiveness of the company It focuses on collecting and analyzing the figures from accounting department of the firm within three years, from 2013 to 2015 Methodology To achieve research objectives, I use the desk review method to research and analyze Organization of the study The thesis includes the following contents: Chapter 1: LITERATURE REVIEW Chapter 2: THE STUDY Chapter 3: R ECOMMENDATIONS OUTLINE DECLARATION ABSTRACT ACKNOWLEDGMENTS LIST OF ABBREVIATIONS LIST OF FIGURES AND TABLES TABLE OF CONTENTS Student: Phung Thi Hai Yen Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance INTRODUCTION Rationale of the study Aims of the study Scope of the study Methodology Organization of the study CHAPTER 1: LITERATURE REVIEW 1.1 The basic definition and characteristics of marketing 1.2 The major content of marketing activities in company 1.3 Competition and the rationale of competition of the market economy CHAPTER 2: THE STUDY 2.1 The development of company 2.2 The operating outcome of company in recent years 2.3 The real situation of marketing activities of company CHAPTER 3: RECOMMENDATIONS 3.1 The developing direction of company 3.2 Solutions to improve competitiveness of company 3.3 The supporting solutions Student: Phung Thi Hai Yen Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance DETAILED OUTLINE Chapter 1: LITERATURE REVIEW 1.1 The basic definition and characteristics of marketing 1.1.1 Definition From different viewpoints:  Philip Kotler  American Marketing Association (AMA)  Heidi Cohen 1.1.2 The characteristics of Marketing concept 1.1.3 The functions of Marketing 1.1.4 Researching and determining market needs 1.2 The major content of marketing activities in company 1.2.1 Choose target market and locate market 1.2.2 Market segment 1.2.3 Choose target market  Definition  Market segment valuation  Choose target market  Marketing strategies  The base of choosing marketing strategies  Marketing implementation and examination 1.3 Competition and the rationale of competition in the market economy 1.3.1 Definition and the characteristics of competition Student: Phung Thi Hai Yen Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance 1.3.2 The roles of competition in the market economy  The roles of competition in service business  The roles of competition to consumers  The roles of competition in society economy Chapter 2: THE STUDY 2.1 The development of company 2.1.1 The formation history and development of company 2.1.2 Human resources and human resources training 2.1.3 The occupations of business registration and Field of business 2.2 The operating outcome of company in recent years 2.2.1 The operating outcome 2.2.2 The situation of organising business products 2.2.3 The product circulation of company 2.2.4 Financial statement of company 2.3 The real situation of marketing activities of company 2.3.1 Marketing strategy of company 2.3.2 Marketing solutions of company 2.3.2.1 Product policy 2.3.2.2 Price policy Student: Phung Thi Hai Yen Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance 2.3.2.3 Distribution policy 2.3.2.4 Mixed Promotion policy 2.3.3 Market researching activity of company Chapter 3: RECOMMENDATIONS 3.1 The developing direction of company 3.1.1 Target market and marketing objectives 3.1.2 Competitive position of company in the market 3.2 Marketing solutions 3.2.1 Competitive strategy of company 3.2.2 Product strategy for target market 3.2.3 Price policy 3.2.4 Distribution strategy 3.2.5 Mixed promotion strategy 3.3 The supporting solutions 3.3.1 Marketing organisation 3.3.2 The solutions of researching Marketing Student: Phung Thi Hai Yen Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance CHAPTER 1: THE RATIONALE OF MARKETING IN BUSINESS ACTIVITY 1.1 The basic definition and characteristics of marketing 1.1.1 Definition What does the term “marketing” mean? Marketing is often equated as selling and advertising, and no wonder, we are bombarded with television commercials, newspaper ads, direct mail campaigns, Internet pitches and sales calls everyday Although they are important, they are only two of many marketing functions and are often not the most important ones According to American Marketing Association (AMA): “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” Dr Philip Kotler defines marketing as “The science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit Marketing identifies unfulfilled needs and desires It defines, measures and quantifies the size of the identified market and the profit potential It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services” Another view from Heidi Cohen-President, Riverside Marketing Strategies, he defines: “Marketing is the process of getting a product or service from a company to its end customers from product development through to the final sale and post purchase support” In general, Marketing should be understood not in the old sense of making a sale, but in the new sense of satisfying customer needs Marketing is a process of Student: Phung Thi Hai Yen Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance working with market to implement exchanges on the aim of satisfying customer needs and demands 1.1.2 The characteristics of Marketing concept 1.1.2.1 Customer-orientation All business activities should be directed to create and satisfy the customer Emphasis on the needs and wants of consumers keeps the business on the right track All marketing decisions should be made on the basis of their impact on the customer Consumer becomes the guide of business 1.1.2.2 Marketing Research Under the marketing concept; knowledge and understanding of customer’s needs, wants and desires are very vital Therefore, a regular and systematic marketing research programme is required to keep abreast of the market In addition, innovation and creativity are necessary to match the products of requirements of customers Up-to-date and adequate knowledge must be available to answer the following questions: (1)What business are we really in?, (2)Who are our customers?, (3)What the customers want?, (4)How should we distribute our products?, (5)How can we communicate most effectively with our customers? 1.1.2.3 Marketing Planning The marketing concept calls for a goal-oriented approach to marketing The overall objectives of the firm should be the earning of profits through satisfaction of customers On the basis of this goal, the objectives and policies of marketing and other departments should be defined precisely Marketing planning helps to inject the philosophy of consumer-orientation into the total business systems and serves as a guide to the organisation’s efforts Student: Phung Thi Hai Yen 10 Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance Candy Tamarind, Assorted Tea,… Asya chocolate Elise Daily Chocolate, Elise Octagona Chocolate, Elise Richy Chocolate, … Tresor Dore Royal Castle, Tresor Dore, … Witors-Italia Witor’s Chocolate, Witors Chocolate Italia,… Apolo Apollo Checker Red, Apollo Checker Black, Apollo Bubbles, Apolo Crush, Apollo Eroll, Apollo Roka, … ( Source: The sales department of Hoang Mai P&T Company LTD) In 2002, the company only had 15 imported confectionery products but after only years, the number has increased new products And the number of products has reached 60 up to now It shows the strong development of the company in the diversification of products in order to expand the market In the recent years, to meet the increasing demands of customers, the company has constantly produced goods and imported various confectionery items from different companies from other countries Companies increasingly offer a variety of diversified products to meet customer needs From the stage of reaching customers, delivering on time and place, ensuring food safety With the high value of product orders of customers who are long-term distributors, the company provides a lot of preferential services as discount, support transport expense The richness and diversity in types of confectionary products is a competitive advantage for Hoang Mai Trading and Production Company Limited It can compete against other competitors such as Hai Ha, Trang An, Huu Nghi, Hai Chau, Kinh Do Student: Phung Thi Hai Yen 34 Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance 2.3.2.2 Price policy At present, the competition of price is also as important as product quality’s competition Confectionery companies continuously apply measures to attract consumers and heighten competitiveness in the market such as reducing price, offering reasonable price strategies Facing this real situation, Hoang Mai Trading and Production Company Limited has its own policies of price The basis of price valuation and the method of determining product price of company: Basing on the business field, Hoang Mai Trading and Production Company Limited chooses two main ways of price determination The first method is costplus pricing This valuation creates fairness for both buyers and sellers, the company will have a reasonable profit margin The second method is competition-based pricing With this method, no firm can afford to disregard cost and demand factors in pricing which gives major attetion to position its prices just relative to the prices of its competitors In general, the confectionery industry, especially imported confectioneries industry, is on the growth The market has become dynamic and the company has more competitors Therefore, the company's pricing valuation is based on the price of their competitors which were allowed to offer the most reasonable pricing Hoang Mai Trading and Production Company Limited also applies different pricing policies, depending on the confectioneries profitable period of year For loyal customers who buy in bulk, the company will have its own discount policy Student: Phung Thi Hai Yen 35 Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance Table 5: Compare the price of competitor’s confectionery items Unit: dong Name of products Price of Hoang Mai Competitors P&T Cor.,LTD Name of Price competitor Rice cake 20.000 One-one 19.000 Butters 26.800 Huu Nghi 29.500 Chocolate cookies 248.000 Hai Ha 85.000 Cracker 20.500 Hai Ha 23.500 Stiff candy(mint) 20.500 Mellan 51.000 Korea Stiff candy(migita) 20.500 Bibica 12.000 Sponge cake 42.000 Bibica 32.500 Fondant 68.000 Bibica 55.000 The price of the products which company produces itself is lower than the price of other companies’s products The company knows how to save expense, for example managing efficiently input materials, reducing unnecessary indirect expense and innovating automated technology Thanks to price cutting, the company still makes profit although the price of products is very low However, the thought “ the lower product’s price is, the worse its quality is” affects consumer’s psychology Moreover, the price of imported products are higher than the other items The high price is one of the elements that reduces the sale productivity Student: Phung Thi Hai Yen 36 Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance 2.3.2.3 Distribution policy The diversity of distribution channels brings advantages, but also poses obstacles to select appropriate distribution channels for the product consumption The company has used a mixture distribution channels (direct distribution and indirect distribution) in their business Diagram 1: The distribution channel of Hoang Mai Trading and Production Company Limited Company Customer Product showrooms Wholesale Retail (Source: Sales department of Hoang Mai P&T Co.,LTD) Firstly, for the direct distribution , goods go directly from company to customers Customers can go directly to the transaction office or call to purchase, order products, whereby the company accelerates the speed of circulation of goods, improve the autonomy and gain higher returns At the same time, customers can be assured to buy the product with high quality Secodly, the indirect distribution: For this channel, the company's products are delivered to consumers through commercial intermediaries It is the product showrooms, distributors, dealers, retailers, supermarkets This will help the company enter the market more easily Currently the company has gradually expanded its distribution network nationwide Student: Phung Thi Hai Yen 37 Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance Currently, the main distribution channel of the company remains the indirect distribution channel with 75% of revenue This channel has brought efficiency to the company and established a wide distribution network across the country Product distribution system of Hoang Mai Trading and Production Company Limited is available in all provinces and cities nationwide Hoang Mai company has established distribution system to resellers, retailers across the country at areas North - Central - South Customers can buy the company's products in multiple locations The company's products are distributed through a nationwide network of distributors, supermarkets (Metro, Big C, Saigon Corp., Intimex, Fivimart, Harpro) and the system of direct selling staff of the company In order to access the distribution and management of orders efficiently, the company has its own channel managing system Channel managing system includes sales department which takes responsibility for operating distributing system It helps company delivery products easily and conveniently, manage and ensure the orders rapidly, accurately and effectively 2.3.2.4 Mixed promotion policy Table 6: Budget allocation of promotion tool of Hoang Mai Trading and Production Company Limited (Unit: billion dong) 2013 2014 2015 Total Budget 8,8 10,9 12,7 Advertisement 1,4 1,7 Public relations 4,2 5,4 6,5 Promotion 1,4 1,5 1,7 Personal selling 1,8 2,1 2,5 (Source: Marketing Department of Hoang Mai P&T Co.,LTD) Student: Phung Thi Hai Yen 38 Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance Hoang Mai promotion strategy is consistent with its overall business strategy of cost advantages Marketing objectives of Hoang Mai include profit maximization in short-term and long-term perspectives and increasing the value of brand image, developing and expanding market share, looking for new customers, boosting product consumption, enhancing the position of the company This objective is achieved through advertisement, public relations, promotion and personal selling All of these communication tools are referred to as promotional mix Promotion : The company launched sales promotion programs for consumers, through promotions on the occasion such as festival, exhibition, celebrating On these occasions, customers buy confectionery products of the company will be discounted or gotten bonus promotion programs Employees of the company directly contact with customers to deliver products and services to customers Currently the company has its own department to join directly in personal selling Sales teams are dynamic, enthusiastic and they bring higher revenues for business Advertisment: The company has invested a lot of promotional activities on television with multiple time slots (11:00, 19:00h, ) on different channels which have many followers (VTV1, YAN, Yeah1 TV, ) In addition, the company also advertises through magazines, internet, publications, catalogs, banners, Along with the promotion activities, personal selling, advertising, the company has also carried out public relations, direct marketing, However, the share of these activities are not high Company has increasingly stepped up promotion activities to reband Hoang Mai in the minds of customers 2.3.3 Market analyzing activity of company Currently, there are many confectionary products in the market Thus, the company needs to base on multiple subjective elements and objective elements Student: Phung Thi Hai Yen 39 Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance to take business measures which can best satisfy customer needs and wants The company has different activities, including: analyzing the demand of using confectionary items nationwide, analyzing the availability of the source, analyzing market price, and studying the competition of product in the market The main objective of the company is wholesale buyers and the company can define who purchase its products, the company also can define the legal financial ability, organizational forms, business forms, as well as retailing network and reputation with customers Basing on analyzing quarter and annual figures, the company determines the amount and structure of sold items as well as the rotating speed of each item Simultaneously, the company can forecast the buying capability of purchasing units next time In addition, the company assigns staff directly to the customer units and retail units to study the needs, or by phone, fax offers, thereby identifying the needs of customers In addition, the company assigns staff directly to customer units and retailing units or call customers, fax to offer goods for sale on the aim of studying customer needs From that study, the company knows which are items of taste, what items sell fast, where needs products, the quantity of products, what products bring more profit, and then it can know the ability of selling products in the market and the company knows which market or economic sectors is the most potential one to company's confectionery products In short, through the analysis of marketing situation of Hoang Mai Trading and Production Company Limited, we can make some remarks as follow: The company has already known how to apply marketing principles on business that the business activity of the company comes from the needs of customers The company has taken the initiative in fluctuant market mechanism and also has found ways to maximize resources and business potential Hoang Mai Trading and Production Company Limited has already known to promote its brand through multiple forms of PR on the media, the press, participation in trade fairs The company has several strategies of product price The process of buying and selling is set closely and seriously from departments to each sector Student: Phung Thi Hai Yen 40 Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance Beside the strengths above, limitations still exist in business in general and marketing in particular The market research activity is relatively low The selection of target market has had no specific and regular programs The product strategy is still simple and the strategy of price is carried out inefficiently Poor promotion programs and staff qualifications in the field of marketing is limited, mainly relying on the leadership of their superiors Student: Phung Thi Hai Yen 41 Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance CHAPTER 3: SOME MARKETING SOLUTIONS TO IMPROVE COMPETITIVENESS OF CONFECTIONERY PRODUCTS OF HOANG MAI TRADING AND PRODUCTION COMPANY LIMITED 3.1 The developing direction of company 3.1.1 Target market and marketing objectives The company can not guarantee to satisfy the needs of all consumers So a company will choose a market where company can meet the needs and business effectively Hoang Mai Trading and Production Company Limited sells confectionery products and serves the needs of customers Depending on the quality and popularity of various goods that each customer consumes various goods The company aims at providing consumers whose income are from average to high And target firms are organizations, businesses, distributors, supermarkets, large wholesalers who activate in the provinces and cities nationwide Company needs to train qualified staff to ensure the company's goods meet the requirements of the units and build up the company's reputation to penetrate this huge market It is necessary that company puts out marketing activities to achieve business efficiency on the target market The company should establish distribution network nationwide and create sales team and combining high and effective advertising within the company and outside the company to increase the prestige of the company to each customer The company also needs to establish and reinforce frequently close relationships with customers, maintain prestige on business and organize customer conferences, increase understanding of products and make distribution channel stalely, supplying goods on time and on right place 3.1.2 Competitive position of company in the market Although confectionery does not require high technology, the revenue it brings is not small Confectionery market has currently grown much stronger, it has become a popular and fiercely competitive item in our country Because this Student: Phung Thi Hai Yen 42 Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance is an industry with many potential competitors, there will be stronger competition in the future Currently in the market there are many companies producing or importing confectioneries There are more than 30 well-known enterprises joining in Vietnam confectionery market with fierce competition They compete with each other from the price, services, discounts, promotions They are all big companies and they have large capital, experienced staff and a variety different advantages This is a major challenge for the company to maintain and grow Thus, with its developed history, Hoang Mai Trading and Production Company Limited needs to come back with an important role in the market Being aware of limitations of itself as well as competitors, company needs to develop a marketing strategy to achieve objectives and create competitive position for the company in the market 3.2 Marketing solutions 3.2.1 Competitive strategy of company To create a position in the market, the company needs to develop specific competitive strategies in each market segment with each different type of product In each market segment, the company affords to protect its market share by various policies such as public relations with customers to create long-term business relationship In common with marketing-mix, the activities of the aftersales are also implemented , the company can provide services to meet customer needs The company not only has to retain existing customers but also has to continue seeking new customers, to find out if they want to use what type of product, and then set out policies to induce those customers Basing on market assessment, the company has to understand the needs to choose the appropriate investing products in many forms on the aim of creating competitiveness and dominating the market Student: Phung Thi Hai Yen 43 Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance 3.2.2 Product strategy for target market The measures to carry out: Diversifying kinds of product: This is the process of improving and innovating products which are being manufactured, maintaining the current market and penetrating potential markets through the diversification of styles, models to satisfy the tastes and the solvency of the consumers The company needs to invest more in the production as well as imports of products which are characterized by regional, seasonal, or suitable for different age groups Company needs to diversify products and import goods with different weight to be consistent with the solvency of the consumer Packaging and labeling policies: The company's products are often branded by the manufacturer, but the company needs to pay attention to choose reputable manufacturer brands in the market, especially foreign market since the company imported foreign products This will help the company to ensure the quality of goods to consumers and only reputable products bring high efficiency Developing new items: Consumer demand is increasing, the request for new items with new features also increases The launch of new products to market with new features will attract customers It helps company to sell more and beat the same kind of competition, increase market share Company should strengthen market research and then discover the needs of consumers and get orders to manufacturers from the form, design and quality For items produced by company, basing on the old products, company can change some characteristics of the product, change flavors and additives to suit the market Service policies: To develop new products, the company needs to pay more attention to the service policy of the companyand organize warehouse in order to meet unexpected requirements of the market with appropriate supportive policies after sales such as discount, discounts for bulk buyers The company must create difference in its service to competitors: Delivering products regularly and definitely, delivering on time, managing inventory well, examining strictly Student: Phung Thi Hai Yen 44 Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance product quality, handling orders well, highly specializing in supplement and consumption 3.2.3 Price policy Product price is a effectively competition tool, this is realized through the price policy in the market Reasonable pricing policy will help the company to achieve economic goals and decide profit, contribute to ensure social benefits Currently, the price of some products of the company is higher than similar products in other company such as Bibica, Hai Ha, Kinh Do This affects the ability of consumption as well as competition in the market So, the research to set out reasonable pricing policies is definitely essential in the near future in order to improve the competitiveness of the company The measures to perform: Pricing adjustment: To increase the ability of selling in large number, besides pricing, the company needs to pay attention to the pricing adjustment strategy Pricing adjustment will meet the requirements of customers and the business environment factors Basing on characteristics of confectionery products, the company can adjust price according to market fluctuation, season or product price of competitors Discount pricing: To stimulate an increase in sales volume, the company should apply the discount forms such as discount through purchasing volume, discount in the form of payment, 3.2.4 Distribution strategy Completing product distribution policy with the aim of organizing the movement of products from the manufacturer, the supplier to the consumer in the most effective way To ensure the distribution effectively, the company needs to create a distribution channel in target market reasonably and actively bring products to consumers, The company needs to take measures to manage the distribution system as organizing items, exchanging material distribution Student: Phung Thi Hai Yen 45 Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance information , promoting and paying Company should establish consuming distribution networks nationwide, hold agent center to deliver the goods Besides, the company should open some product showrooms, expanding market in southern and central, strengthening distribution channel management systems 3.2.5 Mixed promotion strategy Direct selling: To match the movement of goods, the company needs to use the wholesale method via wholesale trade representatives because it suits the conditions of market economy The company also should reward staffs who find a lot of customers and sell products effectively With retail units, the company facilitates them to purchase goods on credit The company depends on the characteristic, location and the importance of each kind of product, bases on the relationship and reliability between the company and clients in the marketing strategy of the company to conduct appropriate wholesale methods In the future, the company needs to complete the wholesale methods which are using and continue finding other methods With each method, it takes time to monitor and find out advantages and disadvantages to supplement timely Advertising: The company has many competitors, thus the company needs to increase advertising because advertising creates communication channels between the company's products and customers, and it influences and persuades customers to buy products However, if the company headlines over the mass media, the cost of advertising is so high that sales may not offset So it is very essential when doing research, reviewing or organizing advertisement It requires company to properly evaluate the effectiveness of this activity on the aim of organizing its selling process The company needs to intensify promotional activities through the mass media such as radio, TV, catalogs or embarking trade expo, Public relations: The company builds public relations in harmony with other elements of the expansion strategy The company should invest a sum of money for media agencies to advertise commercial information about the Student: Phung Thi Hai Yen 46 Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance company, as well as extend widespread propaganda to stimulate the consumption of products in the domestic market 3.3 The supporting solutions 3.3.1 Marketing organisation The company established marketing department, but it has not been divided into divisions clearly To achieve maximum efficiency, the marketing department should be split into two divisions, each division undertakes different mission The functional division takes responsibility for researching and planning activities and marketing programs Direct marketing department will organize and conduct the sale of goods, carry out a number of promotion and expansion programs The activities of the divisions are managed by the marketing department The director of the company bases on this room for strategic decision-making So that, the company must have the staff with good marketing knowledge, market savvy and acumen in market movements 3.3.2 The solutions of studying Marketing Marketing research plays an important role in the marketing activities in particular and on business in general It helps company reduce business risk, detect new market segments, and find solutions to the problems that caused the weakness In order to get effectiveness in marketing research activities, the company should spend a budget of company's revenue for marketing research From that study, the company will know which are taste items, which items selling fast, where needs product, the quantity of product,, the ability of selling products in the market , which markets, and which economic sectors with the prospects for their goods From the study of the needs, the company has the appropriate policies to promote the goods sold Student: Phung Thi Hai Yen 47 Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com Graduation thesis Academy of Finance Some requests to Government: The State should create the equality for businesses Currently, the transitional nature of the economy is not only reflected in economic activities but also are the main points in the economic law development system of the State Facing to this situation, except pricing floor price for products, the State needs to launch anti-dumping laws so that businesses can self-adjust, avoid uncontrolled dumping that makes competition in the market unhealthy The State should promulgate exclusive right in order to encourage competition and protect consumers The State should take measures to prevent smuggled goods, tax evasion in Vietnam The State also should have an effective usage of tax and the interest rates of bank to stimulate the production of confectionery in domestic and foreign market, to increase competitiveness among businesses It is necessary to have policies to encourage and facilitate for export and import of goods and early promulgate competition legislation and other relevant laws to ensure fair competition and promote the development of the company Student: Phung Thi Hai Yen 48 Class: CQ50/51.02 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com ... studied about marketing and I would like to raise the topic : “ Some marketing solutions to improve the competitiveness of confectionery products of Hoang Mai Trading and Production Company Limited? ??... ANALYZING THE MARKETING ACTIVITIES OF HOANG MAI TRADING AND PRODUCTION COMPANY LIMITED 2.1 The development of company 2.1.1 The formation history and development of company Hoang Mai Trading and Production. .. suggesting solutions to improve competitiveness of the company Scope of the study As mentioned above, the thesis concentrates on the marketing solutions to improve the competitiveness of the company