OVERVIEW ABOUT TO MARKETING STRATEFY TO EXPAND
Research urgency of the project
Understanding consumer market dynamics is crucial for any business, as it directly influences sales and profitability The ever-changing economic landscape necessitates that businesses remain agile and adaptable to market fluctuations To thrive and establish a strong market presence, companies must effectively utilize their resources and continually develop strategies aimed at capturing market share.
Vietnam, home to nearly 90 million people, boasts a young demographic and a rising income level, leading to a diverse demand for garments The country's apparel industry has gained popularity due to its variety and quality, presenting significant opportunities for domestic enterprises As businesses like Zenco strive to establish their own brands in this promising market, competition intensifies Established companies such as Gấu uniform and Zumi.com have already made their mark, while Zenco faces challenges from foreign brands like Zara, Mango, and H&M, which are favored by Vietnamese consumers for their reputation and affordability.
To effectively navigate the challenges posed by market issues and intense competition, it is crucial for Zenco Ltd to conduct thorough research on marketing solutions that can facilitate the expansion of its market share in the garment industry.
Research objectives
- Systematizing the basic theories, market expansion modalities, and mixed marketing tools to market the company's business.
- Analyze the situation of marketing solutions to expand the market of garments of Zenco Co., Ltd in Hanoi, thereby multiplying the advantages, limitations and causes.
To enhance Zenco Co., Ltd.'s competitiveness and market share, it is essential to implement targeted solutions and recommendations that address the existing constraints in its marketing strategy By refining marketing approaches and leveraging innovative tactics, the company can strengthen its market position and foster sustainable growth.
Research scope
The scope of the study includes: research subjects, research scope, research products and study period.
+ Content of the research: marketing solutions to expand the company's garment market, focusing on variables: products, pricing, distribution and promotion.
+ Customers: mainly institutional customers and schools.
- Scope of market research: the research activity is limited at Zenco Co., Ltd in the area of Hanoi.
- Research products: the company's 3D uniform.
- Research time: research on the data from 2015 to 2017 Then introduce mixed marketing solutions to develop the market in 3 years 2018-2020.
Research Methods
1.3.1.1 Secondary data a, Collected data + History and development of the company.
+ List of products, policy of discount.
+ The list of customers of the company.
+ Marketing concepts and theories. b, Source:
To gather comprehensive insights into the company's offerings, data was collected from the Zenco.vn website, detailing the product list and pricing Additionally, reports on business performance from the marketing department and financial statements spanning the years 2015 to 2017 were obtained for a thorough analysis of the company's results.
+ Source outside the company: Basic Marketing Curriculum – Assoc Prof Tran Minh Dao, Marketing Manager - Philip Kotler,
1.3.1.2 Primary data a, Collected data For administrators:
+ The market and target customers of the company.
+ Objectives and strategies of the company.
+ The current marketing solutions that the company is using.
+ The urgent issue that the company sets.
+ Interest and preferences of customers about the company's products.
+ Assessment and evaluation of quality, price, product design.
+ Advantages and disadvantages when buying goods.
Accessing information is crucial for enhancing product offerings to customers This article synthesizes insights gathered from direct observations, investigations, and interviews with company members regarding business and marketing strategies aimed at expanding the garment market Additionally, customer feedback was collected through targeted interview questions to understand their wants, preferences, and opinions on the company's products.
Subjects: interviews with 8 managers of the company, including one director and one vice director, three sales managers and three sale staffs.
+ Time: 1 week + Number of questions: 17 questions revolve around the company's market development policies.
+ Subjects: randomly Conducted questionnaire for 50 consumers in Hanoi.
The survey consists of 16 questions aimed at customers who have previously used the company's clothing and 12 questions for consumers who have never used the brand This comprehensive approach is designed to gather insights on product demand and collect valuable reviews regarding the company's offerings and policies.
1.3.2.1 Secondary data + Comparison method: It is used in analyzing the selling data and financial situation by comparing with previous years Consequently, realize the trend in selling effectiveness to suggest the suitable solutions for the next period.
+ Ratio method: Usually used with comparison method to show the change of statistics through years,
1.3.2.2 Elementary data + Synthesis method: Summary of questionnaires, interviews to analyze the data collected; synthesize and select information logically, in accordance with the content of the topic.
+ Statistics method: Statistics results in the coupon template, emulation From that, extracting percentage of percentage, judge the current problems accurately
+ Comparison method: Comparing among ideas and suggestion to figure out the core problems.
BRIEF SUMMARY OF BASIC ISSUES IN MARKETING MIX
Market concept
The term "market" is fundamentally linked to the concept of "manufactured commodities," serving as the environment for business transactions across all companies As product manufacturing evolves, the meaning of "market" has become increasingly dynamic and multifaceted Various interpretations of the term "market" continue to emerge, reflecting its growing significance in the business landscape.
Philip Kotler emphasizes that an organization's marketing role is to identify and understand the needs, wants, and interests of its target markets This involves delivering desired outcomes more effectively and efficiently than competitors while ensuring the well-being of consumers and society as a whole.
According to marketing perspective, the term marketing is judged in two aspects:
The market can be defined as a dynamic and intricate system of business interactions, characterized by the exchange of attractive goods within an open environment It encompasses the ongoing relationships between various entities involved in the provision of products and services.
- In microscopic aspect: Market is understood as a set of customers who have the same demand for the product of the companies and its rivals
2.1.1 The concept of market expansion
Market expansion, also known as market development, refers to the strategic approach of addressing unmet needs to generate new business opportunities This process involves enhancing a company's capability to tap into existing markets while also exploring new ones, ultimately aimed at achieving business objectives and strengthening the company's market position within a defined timeframe.
2.1.2 The role of market expansion for business
Market expansion is essential for business survival in today's competitive global economy As advancements in science and technology continue to evolve, companies must strive not only to capture market share but also to dominate their respective markets To achieve this level of success, it is crucial for businesses to consistently expand their reach and establish a strong presence in new markets.
Expanding the market helps businesses speed up the consumption of products, exploit all potential of the market thoroughly.
Expanding the market shortens product life cycle in the process of circulation,accelerates the cycle of expanded reproduction, increases the turnover of capital, and increases profitability.
To achieve stable development and enhance market share, businesses must focus on expanding their market presence A larger market share not only strengthens competitiveness but also facilitates easier entry into new markets, both domestically and internationally.
The basic content of the marketing mix solution to expand the market
2.2.1.1 Company market research Market research is the first and most important step of every marketing strategy to penetrate and expand your business A well-executed market research will provide businesses with accurate information about the market and factors that influence the market of the business From there, it creates the conditions for the manager to make appropriate and effective marketing decisions Market research will focus on the matter subject of the purchase and the type of merchandise that the business is producing, and the structure of the commodity market as well The enterprise must determine its market share In comparison with competitors' market share, there are specific marketing solutions Market research must answer the question: Who are the customers? What characteristics do they have? How much they buy? Structure type of goods? Where do they buy it? What is the purpose of the purchase? Who is competitors?
Market research plays a crucial role in market penetration and expansion by analyzing consumer attitudes, habits, and characteristics This research enables businesses to adapt to and influence various factors affecting potential customers By examining aspects such as scale, financial status, affordability, behavior, and purchasing motivation, companies can effectively meet customer needs and enhance their market strategies.
2.2.1.2 Customer set and characteristics of customer sets With the strategy of penetrating and expanding the market, the target customers of the business are new customers and current customers in the new market and the current market.
To attract new customers who may currently trust competitors, businesses must enhance their credibility and establish a strong market position This involves creating a positive perception and satisfaction around their products For existing customers, while they have confidence in the brand, their purchasing behavior can vary based on needs and market conditions, making them susceptible to switching to competitors offering better benefits Therefore, companies should conduct thorough research to understand and define their customer base effectively.
ANALYSIS OF RESULTS OF MARKET RESEARCH IN MIX
Overview of the business of Zenco Ltd
Company Name: Zenco Co Ltd., Head office: 55/5 - Huynh Thuc Khang - Dong Da - Hanoi Chartered capital: VND 6,171,000,000
Zenco Co Ltd., is a state-owned enterprise operating under the Business License No.
0106115850 dated 06/03/20012 issued by the Department of Planning and Investment of Hanoi City.
The company has been named Zenco since its inception and has continued existing for six years.
In its early years, the company offered a limited selection of uniforms in simple monochromatic colors However, as the demand for aesthetic appeal grew, the company expanded its offerings, researching and developing a variety of models Notably, in mid-November 2017, they launched an innovative line of 3D clothing, marking a significant advancement in their product range.
Currently, the company has a business capital of VND 6 billion and 150 employees are assigned tasks in accordance with the professional level of each person.
The organizational structure of the company
Company director Vice director – in charge of production Vice director – in charge of technique Organization and administration department Financial department
Profession and major department Marketing department
Technology and electricity department Main business fields of the company
- Producing and processing textile and garment products for export and domestic consumption.
The company primarily focuses on processing, where it transforms customers' raw materials, designs, models, and technical documents into finished products tailored to their specifications, which are then exported This processing activity constitutes the majority of the company's annual revenue.
The company is steadily enhancing its business operations with a focus on long-term growth, aiming to promote its branded products both in the domestic market and for export to key markets such as the USA, EU, and Japan.
3.1.2 The business situation of the company
Table 3.1: Business results of the company in the past 3 years (2015 - 2017)
(Source: Financial Department) Based on the results of the company's business results can be seen:
- Revenue from 2015-2016 increased slightly (revenue in 2016 increased 732 million, equivalent to 1.16% over 2015), but the cost of business activities increased sharply resulting significantly reduced profit (profit in 2016 decreased 27.94% compared to 2015).
In 2016, the company transitioned to manufacturing the new Zenco product line, requiring significant investments in manpower, materials, and financial resources Additionally, the opening of a new branch in Hanoi for displaying and selling Zenco garments contributed to the inevitable reduction in profits that year.
Between 2016 and 2017, the company experienced a significant revenue increase of over $2 billion, or 3.28%, alongside a remarkable 20% rise in profit This positive trend reflects the successful transition to in-house garment production, serving as a strong motivator for both the management team and employees across the organization.
Analyzing the influence of environmental factors on marketing mix solutions to
to expand the market for products of Zenco limitted liability Company.
Vietnam, home to approximately 90 million people, boasts a youthful population with rising incomes, driving a growing demand for fashion and garments Hanoi, with its significant population, is strategically served by Zenco’s sole branch located in Dong Da District, one of the city's four most densely populated areas This branch is ideally positioned near three rapidly urbanizing districts—Hai Ba Trung, Hoang Mai, and Hoan Kiem—highlighting the company's astute decision to establish its first location in Dong Da.
In recent years, the Vietnamese economy has faced many difficulties, especially after the economic crisis in 2016 This has a great impact on garment enterprises in general and Zenco in particular.
In recent years, the inflation rate has risen significantly, with figures reaching 6.81% in 2016 and 6.04% in 2017 This has led to a continuous increase in input and labor costs, while output prices are on the decline As a result, companies are struggling to maintain a balance between revenue, costs, and profitability.
The growth rate directly affects the financial status and affordability of consumers By
Between 2015 and 2017, the GDP growth rates were recorded at 5.89% in 2015, 5.03% in 2016, and 5.4% in 2017, resulting in an average economic growth rate of just 5.6% per year, the lowest in five years and significantly below the targeted growth of 6.5% to 7% This decline has led to a sluggish domestic garment market, characterized by slow consumption and rising inventory levels as consumers have become more cautious with their spending, resulting in many businesses facing financial losses.
The political environment significantly impacts the garment industry, with recent years seeing the sector recognized as a priority by the government Numerous policies and legal frameworks have been established to support its growth Notably, the Prime Minister approved Decision No 320/QD-TTg on February 8, 2013, which outlines the development plan for Vietnam's textile and apparel industry through 2015, with a vision extending to 2020 The key objectives include positioning the textile and garment sector as a leading industry for exports and enhancing its competitiveness to ensure integration into both regional and global markets.
Therefore, the business opportunities for businesses in the field of textile and garment industry are growing.
Besides, Vietnam is also considered to have political stability and security That is the opportunity and conditions for foreign investors to invest in Vietnam.
3.2.1.5 Technological - technical environment Today, the technology is modern and has a great influence on the commercial business of the business Modern technology supports enterprises from manufacturing, managing quality and consulting sales-payment- transportation The garment enterprises in Vietnam in recent years are well aware of the importance of technology in production Companies continually import machinery and equipment of foreign countries to replace peanut equipment for example, the manufacturing system has changed from foot pedal machines to modern automatic sewing lines Thanks to modern technology, Vietnamese enterprises have improved their labor productivity and product quality and lowered product prices to increase their competitiveness.
3.2.2.1 Customer Hanoi is a city with rapid economic development of in country, which is concentrated large number of customers have high living standards and stable income With the increase in living standards, they are willing to spend more on clothing - most of which show social status and personal style They are increasingly demanding in shopping and require the higher level of quality, design and brand reputation Developing business to meet the maximum customer demand and completing the services is the necessary act that Zenco have to achieve.
3.2.2.2 Competitors Having a business is sure to have competitors, especially in the garment market which is trending to be saturated As a company engaged in both fashion and production, Zenco needs to face a lot of competitors in order to maintain its track record and develop its market.
Vietnamese consumers are increasingly choosing domestic textile and garment products over cheap Chinese imports due to several key factors: improved designs, more competitive pricing, high-quality materials, and reduced concerns about toxicity.
Among the leading brands are Gấu Uniform, known for its diverse and stylish uniforms, and ZUmi, which boasts a strong marketing team and high-quality products available in a wide range of types and prices.
Foreign fashion brands, particularly F5, Cava, and Anima from Malaysia, have gained immense popularity in Vietnam due to their modern colors, trendy designs, and affordable prices F5, in particular, boasts a large fan base thanks to its low-cost offerings and rapid updates To effectively compete in this market, Zenco should analyze the strengths of these brands in product design and leverage competitive pricing to enhance its brand presence.
3.2.2.3 Supplier Suppliers are parties that provide inputs to the business The main material of the textile industry is fabric The fabric is very diverse in design and type There are also garment accessories such as: needles, straps, buttons, laces, chemicals If the supply of these inputs fails, it will greatly affect the business process of the enterprise, especially in the context of competition As such, Zenco is now building a strong relationship with the fabric supplier as well as garment accessories, and there are always alternative policies that avoid the risks at the highest level.
3.2.2.4 Marketing intermediaries Intermediaries have a great influence on the business of the company Intermediaries such as Techcombank, Agribank, Agribank, are available The intermediaries and the company are in a good term so the company has cooperated with two banks Techcombank and Agribank from 2012 However, the company should also hire more research market intermediaries to have a better understand about customer’s need For the Hanoi market, the company needs to try to contact more marketing agencies such as radio and television stations in Hanoi to bring Zenco brand to consumers in a fastest and most memorable way.
Current situation of marketing mix solution to expand Hanoi market for 3D
3.3.1 Determine the target market of the company
3.3.1.1 Current market of the company The main consumption market of the company is mainly in Hanoi and Hung Yen In Hanoi, Zenco's products are sold mainly in Hai Ba Trung district and some big surrounding districts Although the market is new and deployed quite late, but the consumption of products in Hanoi accounts for 70% of the total product consumption of the company Thanks to the initial steps before launching the Hanoi branch of the company such as market research, market evaluation, the company’s product has achieved encouraging results Due to the negative impact of the economy and the demand for uniformed clothes in Hanoi is gradually becoming saturated, Zenco's product consumption rate is still much lower than that of its competitors At present, the company is trying very hard to create and perfect appropriate policies to make difference to attract customers and increase market share.
3.3.1.2 Customer and customer set characteristics The main customer targets are the groups of close friends aged from primary to high school, even university and the tourism company They are the customers who are young and energetic and they have a high demand for uniforms
3.3.2 Current situation of marketing mix solution to expand Hanoi market for products of the company.
3.3.2.1 Product solutions Through investigation and exploration, Zenco products are popular with consumers because of good quality, nice design, trendy, reasonable price But the products of the company are too narrow-range Positive signs are many customers want to buy more products which are not available such as skirts, leg skirts, T-shirts, Therefore, one of the important measures to help companies penetrate and expand the market is the diversification of product types and models combined with enhanced services
Table 3.2 Category list and product structure (product line) of the company
Zenco's product diversification policy emphasizes a variety of types and designs, which has garnered consumer appreciation since its inception The brand's commitment to stylish aesthetics and vibrant colors has made its products highly favored among customers.
A recent survey revealed that 80% of customers found the company's product model and image to be beautiful, while 12% rated it as average and 8% expressed dissatisfaction These results indicate that the company has established a strong presence in the market.
The Hanoi branch of the company serves as a key location for showcasing products and providing comprehensive services for both wholesale and retail customers Enthusiastic sales staff are dedicated to assisting buyers in selecting clothing that flatters their body shape and coordinating outfits stylishly Additionally, customers have the flexibility to exchange or return purchased items within a 5-day period, enhancing their shopping experience.
Bulk buyers typically experience low to medium shipping costs, as most are located near the branch and there is no need for a professional delivery team.
Zenco's branch offers a policy that supports 50% of freight charges for eligible customers To streamline transactions, the branch encourages direct payments, while also providing the option to pay a 50% deposit of the order value, with the remaining balance due immediately upon delivery for customers who engage in three or more transactions with the branch.
3.3.2.2 Price solution With a cost-based pricing approach, the company calculates the price of the product by adding up the cost of purchasing the materials and the cost of manufacturing the product per unit of output plus profit per unit of product that the company wishes To simplify the calculation of the price of a product by the number m ^ 2 create a product.
Price formula: P = CxS + cost of production C: price of 1m 2 fabric
S: the size of fabric to create a product This is a simple, easy-to-calculate pricing method that ensures that the company is profitable when it comes to selling
Zenco always determines the price lower than the main competitors such as F5, Zumi, to attract customers The competitor’s product price is higher than Zenco’s one one- and-a-half times.
A recent survey revealed that approximately 70% of customers expressed satisfaction with the company's pricing, while 8% considered it low and 22% perceived it as relatively high To enhance customer satisfaction further, the company should conduct additional research and make necessary adjustments to its product pricing.
The company has also studied and implemented some preferential payment policies in order to have a stable relationship with customers.
Table 3.3 Preferential mode in payment
Customer made payment before required time 0,7% discount Customer made payment immediately 0.5% discount Customer made payment late than 14 days 0.4% discount Customers with purchase bill more than 20 million
Customers with purchase bill more than 30 million
The company frequently offers promotional discounts during holidays and Tet, with rates varying based on the quantity of goods purchased, payment method, and timing of payment Wholesale buyers can enjoy discounts ranging from 7% to 10%, while retail customers typically receive discounts of 3% to 6% Additionally, during holiday periods, all customers benefit from enhanced discounts of 15% to 20%.
3.3.2.3 Distribution solution Thai Binh Garment Export Joint Stock Company has chosen for its distribution channel system including 3 distribution channels: direct sales distribution channel and distribution channel through retailers and wholesalers
Channel 0: Company Consumer Channel 1: Company retailer consumer Channel 2: Company wholesaler retailer consumer Channel 0 distribution (direct channel): This is a direct sales distribution channel through the product launch shop, the company's branch, no marketing intermediaries The main buyers of this channel are individual consumers, earning 40% from this channel.
The company utilizes its level 0 channel to effectively promote and showcase its products and services, which are crucial for understanding market demand and competitor insights Currently, the company operates two stores, located in Hung Yen and Hanoi.
Channel 1 distribution: This distribution channel aims to overcome the limit of zero- level distribution channel by the marketing intermediary With this type of channel, the company's products will be distributed through retail stores and then delivered to customers.
Conclusions and findings from the study
Over the past three years from 2015 to 2017, the company has accomplished the goals set out in its development policy Those are:
- The company has secured a profitable business Its business is maintained and increased, ensuring regular employment and income for more than 150 staffs and employees throughout the company.
- The company has a clear investment plan in the design and manufacture of Zenco- brand products The company's products are widely known and successful initially
- Quality, design and cost of products meet the needs of the target customers - office workers.
- The company has built and expanded relationships with many customers and suppliers The products are consumed effectively and exchange activities with partners are executed smoothly.
The company has significantly enhanced its distribution channels, gaining access to more targeted customers and effectively managing these channels With strong performance in key markets such as Hung Yen and Hanoi, the company is making steady progress in establishing its brand.
- Promotion policies also bring positive business results and attract the attention of consumers.
The company has consistently achieved its revenue and profit growth targets over the years, providing motivation and encouragement for both management and staff.
To foster a positive workplace culture, company leaders not only establish a fair compensation policy but also ensure that employees work in a supportive environment Regular training and skill enhancement opportunities are provided to help employees improve their capabilities and advance their professional development.
- Fashion items always change very quickly Each design has a short life cycle.
Nevertheless, the company will produce new garments from 2013, so it has not caught up with the design of the product.
- The company's products are narrow It is a drawback because the demand of consumer is increasing rapidly.
- The company encounters difficulties in equipping more production machinery and contacting suppliers of materials.
- Price policy is not flexible.
The company's distribution channel is a short and limited type, resulting in inadequate market coverage Additionally, the incentives offered to channel members lack appeal, further hindering the effectiveness of the distribution strategy.
- Socio-economic development has led to increasing people's living standards, they are more knowledgeable and also demand higher products.
- The area where the company is located is also a potential market that many businesses want to invest in business, competitors also increase accordingly.
- The financial potential of the company is still limited so investment in marketing activities as well as business expansion is difficult and requires careful consideration.
The company, functioning as a processing enterprise, relies heavily on raw materials supplied by partners, which limits its proactive capabilities Additionally, the majority of its machinery is designed exclusively for export production, often accommodating sizes larger than the average Vietnamese specifications This situation may result in a slow conversion process, impacting overall efficiency.
- Market research, capturing and evaluating competitors are sketchy and not focused.
Targets and directions to expand the garment market of Zenco Co., Ltd
4.2.1.1 Target to expand the market Although Zenco has just launched its garment manufacturing and trading business since
In 2012, the company's achievements in the domestic garment market are promising, demonstrating its strong capability to establish and affirm its brand presence The company has effectively outlined its market development objectives.
Over the next decade, the company aims to strengthen its market presence in Hanoi and northern Vietnam, targeting a 10% market share in the fashion industry Additionally, plans include the expansion of 2 to 4 branches in neighboring provinces such as Hai Duong, Hai Phong, and Nam Dinh.
- To ensure stable annual revenue growth, the company strives to increase the profit from garment business to 10% annually.
4.2.2.2 Direction to expand the marketZenco Co., Ltd should continue to implement the following strategies:
To boost sales volume in the Hanoi market, the company should focus on intensive market penetration strategies This includes attracting new customers who have yet to experience the product, enticing competitors' customers to switch, and encouraging existing customers to continue their purchases.
The company has successfully broadened its market reach by extending its operations into neighboring regions, including Hai Duong, Nam Dinh, and Hai Phong This expansion is driven by strategic initiatives aimed at attracting new customers and increasing overall consumption.
Proposals and recommendations on marketing mix solutions to expand the Hanoi
4.3.1 Proposal in market research activities
Market research is a crucial initial step for any business, as it enables companies to understand evolving consumer needs and perceptions of both their own brand and competitors To remain competitive, this research should be conducted regularly and consistently.
In order to develop the Hanoi market, the company needs to have a proper and effective market research method,
The company should divide its customers into two groups:
To effectively cater to bulk customers, such as wholesalers and retailers, a company must comprehend their needs regarding high-quality products, anticipated pricing, discounts, promotions, payment terms, and delivery conditions for orders exceeding 15 million Additionally, for customers placing orders below this threshold, it is essential to investigate the reasons behind their preference for smaller quantities.
The reason maybe because they do not trust the product, the product does not meet the requirements or the other conditions
To enhance marketing strategies, companies should analyze consumer groups by dividing research into specific districts, allowing for comparison of regional differences This approach enables the examination of various population characteristics, including demand, occupation, income, habits, and interests, ultimately leading to a deeper understanding of customer profiles.
4.3.2 Proposal marketing mix solution to expand Hanoi market for products of Zenco Ltd
4.3.2.1 Perfecting products to expand the Hanoi market for Zenco products With fashion products, the biggest requirement is the style, the beautiful design, catch up the trend and show the style of the wearer The target customers for the company's products are office workers, they communicate widely and therefore have high demands on costumes Want to attract them to buy more products of the company, there is only solution is to improve the design to be beautiful and trendy One product must have many designs in different styles.
In the future, the company should:
- Expanding the product portfolio, adding new products (such as uniforms that keep pace with today's trend of youth ) for ladies and gentlemen The products are also diverse in color.
- Positively design the product in sets to help customers easily shape their style and support them in the way they combine and coordinate.
The significance of product quality is paramount, as customers seek flawless items that instill confidence when worn To fulfill this expectation, companies must prioritize delivering exceptional quality in their offerings.
- Have regular contact with suppliers to ensure their products are always up to standard.
- Looking for new suppliers with reputable brands in the market.
4.3.2.2 Price to expand the Hanoi market for products of Zenco Co., Ltd.
Zenco's pricing is lower than its competitors With good design, good quality and competitive price, the company can attract more and more customers.
In addition, the company can apply price adjustment measures to entice more new customers, old customers as well.
- For familiar customers who have long time cooperation, good relationship with the company, the company can extend the payment time.
The company offers a discount policy for wholesale customers based on the value of their orders, which includes a quarterly discount for qualifying wholesalers For instance, customers can receive a 25% discount on total orders exceeding 100 million VND per quarter, and a 28% discount for annual purchases over 500 million VND This discount strategy fosters stable and lasting relationships with wholesalers.
To foster early payments and strengthen relationships with infrequent or recent customers, implementing a discount policy for early payments can be effective This strategy not only helps prevent capital backlogs but also minimizes financial risks for the company, encouraging ongoing collaboration with clients.
To effectively attract consumers, companies should prioritize offering direct gifts and discounts on products as part of their policy Implementing these price adjustments can significantly capture customer attention, particularly when promoted strategically by the company.
4.3.2.3 Complete distribution to expand Hanoi market for products of Zenco Co., Ltd.
To maximize market presence, a new company should focus on expanding its recruiting channels, as a broader network can significantly enhance its reach However, it is crucial to carefully select channel members to ensure alignment with the brand's values and objectives.
To effectively position its brand in the minds of customers, the company must carefully select its indirect distribution channel members by enforcing strict criteria related to scale, capacity, sales proficiency, and management skills.
To foster strong relationships with channel members, companies can establish mutually beneficial agreements that incentivize compliance with specific requirements For instance, by offering attractive discount rates, companies encourage channel members to prominently display their products in easily visible locations, ensuring that the retail prices remain closely aligned with the company's pricing strategy This collaborative approach not only enhances product visibility but also drives sales through strategic partnerships.
Effective management of channel members is crucial for companies with streamlined distribution systems featuring minimal intermediaries Currently, managers should prioritize closely monitoring the activities of channel members, providing necessary support, and ensuring that product pricing remains consistent with the company's established rates This proactive approach not only enhances channel performance but also strengthens relationships with intermediaries.
Companies need to ensure the best possible benefits for channel members so that they can make an effort in selling and helping the company build the brand.
Channel member rating: Companies must regularly evaluate their channel members to make rewards, fines, maintain or use new marketing intermediaries to effectively distribute their business.
In addition, the company may have other policies to improve its distribution channels such as:
- Addition of means of transport, support channel members in the transportation of goods.
- Always ensure the inventory is full and continuous, especially during the holidays (the time of consuming more goods), helping business activities without interruption.
To enhance the company's market presence, it is essential to actively seek new channel members in strategic locations Currently, the lack of relationships with local supermarkets poses a significant disadvantage that must be addressed promptly to foster growth and improve distribution.
- Find out the needs and obstacles of channel members and provide appropriate help.
4.3.2.4 Complete the promotion to expand the Hanoi market for the products of Zenco Co., Ltd.
Determine the promotion target and promotion object
- The company must plan to study attitudes and needs of target customers to have suitable promotion plan for each object.
When establishing promotional goals, it is essential to align them with the company's overarching business objectives These goals should be available, feasible, challenging, measurable, and time-bound Based on the current business landscape, a company might aim to increase average sales by 10% annually, expand sales locations throughout Hanoi, or open five additional intermediaries each year.
A promotion budget is defined as the process of establishing a company's financial allocation for marketing efforts For new domestic garment companies with limited resources, the ability-depend method is often used However, to optimize promotional effectiveness and avoid excessive spending that could harm profitability, it is advisable for companies to adopt the percentage-of-sales method This approach ensures a balanced investment in promotion, aligning marketing expenses with actual sales performance.
THE ACTUAL PRACTICE SITUATION AT ZENCO
Admin
1 Computer Proficiency: This is the minimum requirement of a webmaster because it will make your work smoother and bring more work efficiency when manipulating content on company’s website
2 Ability in Graphic Design: The requirement for a graphic design ability is a requirement that may seem a high requirement for an enterprise webmaster But it is also an indispensable requirement if you want your business to have a beautiful Website interface, attract viewers, have beautiful and professional banners, images or slides
3 Understand SEO website: This is also a requirement that may seem a high requirement for an enterprise webmaster But it is extremely important in the management of the website In order to both bring values to the articles or content of the website with readers and friendly with Google’s search engine, then the administrator is having mission to do all that work Website administrators must know how to write standard SEO articles, how to post Google-friendly images, how to increase the number of visitors to the website, as well as backlinks and create valuable backlinks.
Writing articles daily can significantly boost your website's visibility, as Google tends to favor sites that frequently update their content While we recommend a minimum of two posts per week, increasing your writing frequency can enhance your ranking in search results, especially if the content is relevant and refreshed consistently.
Some pages which I need to do SEO quickly, surely I write articles every day, the more
I write, the more opportunities to Top than others!
Constantly create high quality content
To achieve effective SEO, focus on creating exclusive and vibrant content rather than imitating others, as high-quality articles are essential for better search engine rankings Copying can lead to challenges with SEO and potential issues with DMCA copyright infringement.
If you own quality content, the keyword itself will pick up, do not need too many articles and SEO also much louder.
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Owning a backlink from Vnexpress can significantly boost your keyword rankings, as this site possesses exceptional quality and high PageRank (PR) Its reputable content acts as a powerful asset for enhancing your website's authority and visibility.
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Treat your website with the same care and attention you would give to a child; nurture it like a growing tree to ensure its daily progress By dedicating yourself wholeheartedly to its development, you will achieve the best possible results.