Problem Identification
As an Asia's leading provider of total business space solutions with more than
With 30 years of expertise, Ascendas excels in master planning, developing, managing, and marketing various types of business spaces, including IT parks, industrial and logistics parks, and office and retail environments Drawing on its extensive experience, Ascendas has pioneered innovative concepts like integrated communities that blend high-quality business, lifestyle, retail, and hospitality spaces, fostering human-centric work-live-play-learn environments.
Ascendas has solidified its regional presence by establishing Ascendas Vietnam Co., Ltd and partnering with the Vietnamese state-owned company Protrade to develop the Ascendas-Protrade Singapore Tech Park (APSTP) in Southern Vietnam Spanning 500 hectares and divided into six phases, the project includes fully completed infrastructure in phases 1 and 2, which cover 150 hectares and are now on the market APSTP is designed as a vibrant work-live-play-learn industrial hub, offering high-quality business spaces and reliable solutions, fostering a conducive business lifestyle It caters to a diverse range of industries, including electronics, precision engineering, IT, pharmaceuticals, food and beverage, and general industries.
There are plenty of competitors running their businesses in this industry inVietnam Some of them are successful and assessed as mature industrial parks such as
VSIP, Amata, Long Duc, Nhon Trach, and Kizuna are notable industrial parks, yet several older parks struggle to maintain their market relevance A significant issue many face is a low growth rate, exemplified by APSTP, which serves as a compelling case study for understanding such failures.
Sales reports and financial statements from 2007 to 2016 reveal that despite significant investments in marketing campaigns aimed at branding and attracting prospects, the company failed to reach the break-even point While the project initially generated profits in the first five years, it ultimately struggled over the nine-year period, leading to the decision to sell the development to another company.
In 2016, the occupancy rate for the initial two phases of the project was approximately 36% Despite the team's skill and dedication, they faced challenges in promoting land sales.
After interviewing financial controller, sales manager and staff, parameters were given as follows:
Table 1: Sales Target and Sales Actual from 2014 to 2016 of the project
The actual sale compare with the plan is a big gap In 2014, project target sale is
56.7 ha while actual sale is 12.5, equivalent to 22% of expected goal The sales volume
Despite the team's efforts, the contract value remains low, below 3 hectares, and the project struggles to attract key industries to develop a supply chain Major customers often learn about APSTP only at the last minute before making decisions Typically, overseas investors discover Vietnam's industrial parks through consultants or agent websites, relying on them for analysis before proceeding Ascendas-Protrade has yet to establish strong relationships with these agents and consultants or effectively promote the project on their platforms.
Besides, working with marketing department (Head of Marketing Department, Marketing Manager and Marketers) to get more information, a collection of data was given hereunder:
Table 2: A&P Budget FY2016 (Provided by Marketing Department)
The marketing department invests USD 200,000 annually in campaigns aimed at promoting investment activities and hosting events, yet the results are disappointing, with a lack of qualified leads Despite the team's dedication and efforts across various channels, they only attract around 14 prospects monthly, with very few converting into actual buyers To enhance lead generation, the Head of Marketing has engaged international property companies like CBRE, Savills, and Colliers, but this approach has proven ineffective The limited prospects largely stem from existing relationships with associations, and there is a significant lack of awareness about the project The company aims to attract 175 prospects annually, but despite substantial investments in hosting investor groups, they only secure 2-3 contracts each year, resulting in minimal land sales.
In comparison to competitors like VSIP and Long Hau, APSTP experiences significantly lower and slower sales volumes, with no local investors present in the park Despite having a budget allocated for marketing activities, APSTP struggles to achieve substantial sales and brand awareness Prospects introduced to APSTP by consultants or partners often recognize names like Amata and VSIP, but remain unaware of this project Each year, APSTP attempts to diversify its outreach channels to attract more prospects, yet continues to find itself trapped in a cycle of limited visibility and engagement.
In late 2007, Ascendas-Protrade entered the Vietnamese market, only to confront the challenges of an economic recession a year later As a young company lacking established relationships with key partners, agents, and government entities, Ascendas-Protrade faced significant hurdles in developing effective marketing strategies for the Singapore Tech Park.
To effectively build marketing strategies for Ascendas-Protrade Singapore Tech Park, it's essential to identify and attract their first customers Additionally, understanding the local culture and market dynamics is crucial for competing with established industry players.
Despite having a budget allocated for marketing activities, the company has diverted funds intended for visual branding and advertising towards events and exhibitions, resulting in a lack of awareness about APSTP and its offerings This misallocation has serious consequences, as effective marketing is crucial for driving sales As highlighted by Paswan, Blankson, & Guzman (2011), the primary marketing objective should be to address the needs and aspirations of potential customers, emphasizing the importance of implementing appropriate strategies to enhance both product and organizational value.
The company organizes six to ten investment promotions annually in high-investment countries, but the outcomes are disappointing, yielding only one or two prospects despite significant spending This leads to wasted resources and team frustration Additionally, the company fails to leverage digital marketing and social media, which are crucial for modern communication (Patino, Pitta & Quinones, 2012) Their outdated website lacks essential information, indicating the absence of a solid marketing plan and the inability to create consumer awareness (Rios & Riquelme, 2010) Effective management of marketing channels is vital for the successful execution of marketing strategies, ensuring the smooth flow of goods, information, and revenue (Paswan et al., 2011).
Solutions To Build Effective Marketing Strategies For Ascendas-Protrade Singapore Tech Park
Effective market penetration is crucial for understanding and analyzing market dynamics, as it reveals long-term potential and identifies key market risks (Malizia & Howarth, 1995) Marketers must thoroughly comprehend market trends before formulating strategies However, Ascendas-Protrade has neglected this essential activity, relying on only two annual market reports from headquarters, which fail to provide an accurate picture of the current market landscape This oversight can hinder their ability to develop effective sales and marketing strategies to enhance their brand and product promotion.
This study identifies a significant issue in the current marketing plan, which fails to target the appropriate channels for attracting desired prospects Through comprehensive interviews and data collection, we aim to offer actionable solutions that will enable marketers to implement a more effective and feasible marketing strategy, ultimately enhancing land sales.
Verifying The Existence of The Problem
The central issue identified is an inadequate marketing plan, confirmed through interviews and a questionnaire comprising 11 questions aimed at gauging audience perceptions of marketing activities, information updates, and project events (refer to transcript 3 and questionnaire 1 in chapter 4) Data collected from associations, partners, and agents reveal that 37.6% of participants rated the marketing activities as poor, 33.8% found them lacking in creativity, and 28.6% considered them average, as detailed in Table 5 of chapter 4.
Solutions To Build Effective Marketing Strategies For Ascendas-Protrade Singapore Tech Park
12 | P a g e high appraisal for the professional of the team, 42.3% agrees that the team is professionalSolutions To Build Effective Marketing Strategies For Ascendas-Protrade Singapore Tech Park
Alternative Solutions
To identify the root causes of issues faced by Ascendas-Protrade, it is essential to analyze potential causes derived from literature, such as market misunderstanding, inadequate technology application, and ineffective market segmentation and communication A quantitative evaluation method, specifically a survey consisting of eight questions, was administered to 15 sales staff to gather relevant data for this analysis.
The company's Marketing Department conducted a survey using a Likert scale questionnaire, rated from 1 to 5, comprising eight questions aimed at identifying the root causes of issues in the marketing plan This survey was adapted from Wu's 2011 research A total of 15 completed questionnaires were collected, achieving an impressive response rate of nearly 100 percent.
Market research appears to be a significant issue, with an average score of 3.64 and a high percentage indicating a lack of market understanding (refer to Table 3 and Figure 1 for details) While this suggests that inadequate market research contributes to the problem, its precise impact remains unclear Additionally, regarding technology and social media, 66.67% of respondents agree that customers engage with the company through its website and social media platforms, indicating that this is not a primary cause of the issue.
The findings indicate that the third potential cause does not significantly impact the company, with only 33.33% of staff agreeing that customer acquisition from exhibitions and events is effective In contrast, 53.33% support using customer surveys for market segmentation With an average score of 3.03, this factor is deemed insufficient to be the primary cause of the issue.
Effective communication with the right intermediaries is crucial, as evidenced by survey results (see Table 3 and Figure 1) The data indicates that 60% of sales and marketing staff strongly agree, and 26.67% agree, that a lack of strong relationships with partners and associations significantly impacts the project Additionally, 20% and 53.33% of respondents strongly agree and agree, respectively, that they do not receive adequate support from intermediaries, while only 26.67% disagree With an average mean score of 4.17, this highlights that establishing and nurturing relationships with the appropriate intermediaries is a fundamental issue affecting the project's success.
Please select one choice for each item
Strong disagree Disagree Neutral Agree Strong
1 There is a lack of understand of market 6.67% 20.00% 6.67% 66.67% 0.00% 3.33
2 There is a lack of competitors overview 6.67% 20.00% 0.00% 46.66% 26.67% 3.67
3 You don’t have much information and activities of competitors 6.67% 6.67% 0.00% 60.00% 26.67% 3.93
4 Not many customers contact you via website and other social media 0.00% 26.67% 6.67% 66.67% 0.00% 3.40
5 Events, seminars were organized regularly but didn’t brought real 20.00% 26.67% 6.67% 33.33% 13.33% 2.93 customers to your project
6 You don’t periodically make customers survey for project awareness
7 You don’t have good supports from the partners and associations 0.00% 26.67% 0.00% 53.33% 20.00% 3.67
8 There is a lack of strong relationship with partners and associations
Table 3: Result of identifying root cause of Ascendas-Protrade
Figure 1: Results of identifying root causes of the problem
Ascendas-Protrade Singapore Tech Park aims to create an ideal business environment by promoting a work-live-play-learn concept, which sets it apart from competitors and drives its goal of achieving a 100% occupancy rate To address current challenges, thorough research has identified three key solutions: deepening market penetration, leveraging technology in business operations, and fostering strategic partnerships to enhance customer relationships.
Establish relationship with strategic partners and retain customers’ relationship
A solution provider changes business-to-business marketing is to shift strongly to a more relationship-based marketing According to Gebauer, Wang, Bernold, & Krempl
Since 2007, relationship marketing has emphasized the importance of cultivating long-term connections not only with customers but also with partners, consultants, agents, and associations By fostering strong relationships, Ascendas-Protrade can access timely information and valuable insights, creating new business opportunities and facilitating priority introductions from partners Regular engagement with partners and associations enhances Ascendas-Protrade's ability to reach potential customers, while maintaining positive relationships with current tenants can lead to increased referrals and attract new tenants through word-of-mouth marketing.
Technology plays a crucial role in enhancing sales volume by transforming how individuals work, communicate, and access information With advancements in technology, businesses can effectively promote their products and showcase images, ultimately driving customer engagement and increasing sales.
Customer Service department can fulfill to design a slide which shown all products from Ascendas-Protrade’s tenants to project on the screen whenever sales apartment host a
Creating a modern environment at the park can significantly impress visitors inspecting the project In today's digital age, having a well-designed website is crucial, serving as an effective channel to attract more clients According to Bond, Seiler, Seiler & Blake, a strong online presence enhances engagement and interest in the project.
In 2000, websites became essential tools for customers to research products and services, including in the real estate industry Ascendas-Protrade must enhance their website to ensure comprehensive information about their offerings and relevant procedures is readily available to prospects A proper redesign and regular updates are crucial, necessitating the assignment of a knowledgeable individual skilled in SEO and forum seeding to manage these tasks Additionally, the website should feature more interactive elements to facilitate communication between prospects and the company for inquiries.
To enhance its social marketing strategy, Ascendas-Protrade should establish a presence on platforms such as Facebook, Twitter, and LinkedIn By creating a Facebook account and a dedicated fan page, the company can effectively connect with potential prospects and keep its audience informed This approach will also help increase brand visibility and engagement with target customers, ensuring a consistent and impactful online presence.
The marketing mix model plays a crucial role in social marketing by enabling businesses to effectively choose and focus on the right channels, such as advertising, public relations, personal selling, and sales promotions, to engage target customers and enhance brand positioning By exploring alternative marketing models that emphasize product, packaging, branding, pricing, and service delivery, companies can significantly improve their marketing strategies, particularly in the context of social marketing This approach is essential for developing effective marketing strategies for Ascendas-Protrade Singapore Tech Park.
Solutions To Build Effective Marketing Strategies For Ascendas-Protrade Singapore Tech Park
Ascendas-Protrade should enhance its advertising strategy by focusing on digital channels such as social media, real estate forums, and investment websites Additionally, they must strategically select traditional newspapers to regularly feature articles about their park and industry news, creating engaging columns that encourage reader loyalty To keep partners, agents, consultants, and associations informed, the company should also publish a quarterly newsletter that provides updated information about the park, enabling swift communication of new developments to potential clients.
To achieve maximum sales acceleration, organizations must first penetrate the market to gain a thorough understanding of the business environment and competitors This insight allows teams to adjust their customer approach effectively Competitors often create hassle-free working environments and integrated solutions that attract more prospects By offering customized products and services, firms can differentiate themselves and enhance their competitive edge.
Ascendas-Protrade aims to deliver comprehensive customer solutions that include essential features such as industrial clusters, supporting industries, transportation services, and human resource services, effectively streamlining the business startup process for investors.
Solutions To Build Effective Marketing Strategies For Ascendas-Protrade Singapore Tech Park
Creating an industrial park with industrial clusters can create a community in the park which firms in the area can affect competitors in positive ways by increasing the
Solutions To Build Effective Marketing Strategies For Ascendas-Protrade Singapore Tech Park
Selected Solutions and Implementation Plan
The company must select the most effective and cost-efficient solution from the alternatives presented A SWOT analysis was conducted to identify the best option for APSTP, revealing that while market penetration and relationship establishment require more time to implement, the latter offers superior long-term benefits Consequently, relationship establishment is prioritized To enhance networking, Ascendas-Protrade should concentrate on fostering and sustaining strong connections with partners, agents, consultants, embassies, and associations Additionally, regularly featuring the APSPTP logo on association websites, booklets, and directories will help attract more investors from key markets.
Organizing events and seminars, both locally and internationally, is crucial for attracting investors to the project Hosting factory tours for partners, international property companies, and associations allows prospects to gain a deeper understanding of the products and services offered This strategy effectively promotes the park and enhances its appeal to potential investors.
A plan is deemed successfully implemented when development patterns align with its policies and meet its objectives (Laurian et al., 2004) This establishes a direct connection between the plan's goals and its outcomes According to Aken, Berends, and Bij (2012), an effective implementation plan should encompass five essential steps: objectives, actions, people, change organization, and communication plan The specifics of this implementation plan are thoroughly outlined in Table 9 of the Supporting Information chapter.
The primary goals of establishing relationships include fostering connections with local associations, agents, partners, sub-brokers, and international property companies Additionally, it aims to cultivate strong ties with government entities and closely collaborate with international associations, banks, and embassies These relationships are essential for facilitating support, introducing investors, and ensuring timely access to critical information for the team.
To effectively foster relationships in the industry, staff should engage with international and local associations, banks, agents, sub-brokers, international property companies, authorities, and embassies, often through meetings or phone calls to exchange vital information These interactions provide opportunities to discuss market trends, project updates, and occupancy rates, which are essential for maintaining strong connections and mutual support To further strengthen these relationships, the sales and marketing team should actively participate in associations by becoming members and attending events and networking opportunities Additionally, allocating a budget for Tet gifts to these connections can enhance goodwill and collaboration.
To maintain strong connections and keep stakeholders informed about the project, it is essential to send quarterly newsletters Additionally, organizing factory tours or special events can engage local and international association members, further promoting the project To enhance value for prospects and tenants, collaborating with banks to facilitate loan support is crucial Each marketer or salesperson should develop relationships tailored to their respective markets—such as Thailand, Japan, Korea, China, and Taiwan—by connecting with relevant associations, agents, and consultants It is important to plan events and activities well in advance, establishing a specific budget and timeline for the year or semi-annually, while closely monitoring expenditures to ensure effective and efficient use of resources.
To successfully implement this action, key participants include the Head of Sales and Marketing, the Sales and Marketing Manager, the team leader, project manager, and all team employees Additionally, the managing director must review the plan.
The upcoming changes are set to boost sales performance by generating new leads, increasing site visits, and improving deal closures and turnover These initiatives will foster greater employee engagement and motivation, energizing staff to actively pursue their career goals.
In the communication plan phase, it's essential to inform the heads of the sales and marketing departments about the change plan and arrange a meeting to evaluate its feasibility Feedback and comments will be collected to refine the plan, after which the finalized plan and cost estimates will be submitted to the managing director for approval This process is crucial for developing effective marketing strategies for Ascendas-Protrade Singapore Tech Park.
To develop effective marketing strategies for the Ascendas-Protrade Singapore Tech Park collaboration, a comprehensive plan will be implemented upon final approval The team will establish quarterly, monthly, and weekly plans, along with regular meetings to ensure smooth execution and monitoring Monthly evaluations will be conducted to assess outcomes and identify areas for improvement, ensuring continuous enhancement of the marketing approach.
Solutions To Build Effective Marketing Strategies For Ascendas-Protrade Singapore Tech Park
Supporting Information
This chapter presents various pieces of evidence, including figures, data, and information, to strengthen the thesis and enhance its persuasiveness It will detail the methodologies used for data collection, such as questionnaires and interviews, along with descriptions of tables and the processes for synthesizing and analyzing the gathered information.
This study utilizes both primary and secondary data to analyze the core problems faced by Ascendas-Protrade Co., Ltd Primary data was gathered through direct observation and interviews with the Head of Departments and staff, employing qualitative methods for in-depth insights (Rabianski, 2003) Secondary data, sourced from published materials, supports the analysis and enhances understanding The research incorporates sales and marketing data, alongside additional industry information obtained from agents, to provide a comprehensive appraisal of the firm's challenges.
Interview with Sales and Marketing Manager to get the symptoms of the problem
Writer Ms Thuy – Sales and Marketing Manager
Hello Ms Thuy Thank you for your time being with me today and discuss company’s situation.
Never mind I think it’s a good opportunity to discuss this issue as it may help improve the company situation.
Please briefly share with me the current Well, it seems everything ok as we have the company operation mother company from Singapore to support
However, in the long term, I’m not sure it can go smoothly as there are some problems. May I know the current emerged issue of your company?
Truthfully, low sale is the emerged issue of the company.
Can you please state clearer for me to catch up?
Launched in 2007, our project encompasses 1,350 hectares, with 500 hectares designated for an industrial zone and the remainder for residential development Initially, we focused on the 500 hectares, dividing it into six phases for sale The first two phases, totaling 150 hectares, were developed and put on the market, but after nearly nine years, the occupancy rate for these phases remains at a low 36%, significantly lagging behind competitors in the industry.
From the date of operation which year the company make profit?
Not yet We make loss and the head quarter intends to sell the project to another developer.
What is the most concern from the customers when they contact company?
How many customers to come to your About 14 prospects each month on average. project for site visit each month?
Each year how much money you spend for project on marketing activities?
Annually, we have a budget of approximately of USD 200,000 for marketing activities such as, visual branding, advertising, seminar, exhibitions, etc.
Did you utilize the budget and use it as planned? Was it enough for your marketing activities and which account did you spend the most of money?
At the start of each fiscal year, we prepare an estimated marketing budget and seek approval from headquarters While we are committed to utilizing this budget, we often reallocate funds, such as reducing the visual branding expenses for exhibition items, as long as we stay within the overall budget In our industry, seminars and roadshows/exhibitions play a crucial role, which is why we allocate a significant portion of our budget to these activities.
Through which main channels do your customers connect with you?
Well, prospects mainly come to us through agents, consultants like international property consultants (CBRE, Savills, Colliers, etc.) How do experts in the same industry appraise your park?
They rank us average level in the industry.
How’s your team? Are they skillful to fulfill their tasks?
Our team is experienced and qualified
The employees are dedicated and passionate about their work, often putting in extra hours without complaint The company enhances their skills through training courses, fostering a supportive and friendly work environment that drives better business results.
Thank you very much for your kind support It’s fine for today I would like to interview your staff and will come back to you then for more information.
You’re welcome My pleasure to support you in the near future Let me introduce you with my team.
Interview sales and marketing staff to find obstacles they face up in their sale and
How do you feel about your working environment and your work?
Well, it’s good, very friendly The work is very interesting and challenging We’re always overloaded but we love the job.
Any obstacles you encountered and how to tackle (if any)?
Every industry faces challenges, and ours is no exception, often encountering unique difficulties due to its specific characteristics The demands of this industry require significant financial investment and manpower, necessitating a patient and enthusiastic approach to nurturing potential prospects, which can take two to three years to convert into closed deals To stay competitive, we engage in short training courses to expand our knowledge and enhance our skills, with the added benefit of strong support from our company.
Could you please share with us about your obstacles more specifically?
In our industry, the greatest challenge is obtaining timely information and approaching prospects effectively Without access to timely data, securing deals becomes increasingly difficult.
We regularly host seminars both domestically and internationally to attract investors to our park; however, despite the significant time, money, and effort invested in these events, the outcomes have fallen short of our expectations, with few manufacturers leasing our land This situation has led to feelings of frustration and disappointment, prompting us to consider whether our marketing strategies may need improvement.
We are currently facing a manpower shortage and require staff fluent in Mandarin and Korean to effectively engage with key markets Taiwan, Korea, and Japan represent the highest rates of foreign direct investment in Vietnam today, highlighting significant potential that we are missing due to language barriers.
How did you handle this situation? We outsource staff for specific case but the cost is fair high We have raised this with our supervisor already.
For marketing campaign, any special promotion or creation for your customers that you have done before?
In our initial three years of operation, we implemented a low-price campaign to attract more prospects and increase visits Currently, we regularly host speakers from law firms and industry experts to engage with our target audience, providing free updates on land laws and essential real estate information.
Every year, we aim to introduce at least two new initiatives in integrated customer solutions to enhance the working environment for our tenants, aligning with our key performance indicators (KPIs).
Are you happy with marketing activities in supporting sales?
Our team is currently facing challenges in keeping up with the fast-paced market, which has affected our overall satisfaction and performance To enhance our sales and improve our results, we need to engage in deeper analysis and strategic thinking.
Thank you very much for taking time to participate this conversation.
We appreciate the opportunity for this interview, as it allows us to reflect on our past achievements and consider the important tasks that lie ahead.
Interview Mr Han – General Director and Ms Eriko – Head of Sales and Marketing
Writer Mr Han and Ms Eriko
Good morning, Mr Han and Ms Eriko.
I’m very happy to have a chance to meet up with you How are you today?
Hi Thuy I’m good Thanks How can I help you?
Thank you for your time Honestly, I would like to learn about your company
Yes, it is essential to analyze your current situation and propose effective solutions for improvement Identifying any issues within the firm and suggesting viable strategies can enhance your business operations Recently, I spoke with Ms Thuy, your sales and marketing manager, and learned that your sales volume is not meeting expectations Your team is eager to increase sales and close more deals, correct?
For our operation, we run our business nearly
Over the past decade, our factories and land have been gradually sold, not due to the performance of our sales team or the quality of our products and services We pride ourselves on having a strong team that embodies the spirit of "one team, one dream," and our products consistently meet international standards while offering hassle-free services for our customers.
I see, Ms Thuy told me about this
May I know which channels are you currently using to widen your network to approach more customers?
We join the network in the evening organized by International Property Companies (IPC), agents, brokers Rarely, we join event from associations, embassy, and government.
How about the effectiveness of these channels? Do you develop and exploit those channels at the maximum level?
In our industry, we highly value these channels, which has led us to actively engage with numerous agents, brokers, and IPCs While this effort has successfully increased our pipelines, the number of actual prospects remains disappointingly low.
How many percent did you share to agents/sub-brokers if a deal is finalized?
For land leases, agents who guide prospects from the initial contact to the closing of the deal will receive a commission of 2% of the contract value However, if the agent merely provides information and we manage the follow-up process, a fixed payment of USD 1,000 will be awarded for each successful case.
For factory lease, the commission is 1 month rental.
Is it the same rate with other competitors?
As I know, it’s the same with some industrial parks, but some developers pay higher for land lease, they share 2.5 – 3 percent for each deal closed.
Normally, how often do you meet IPC and associations? Do you advertise your project on press or use digital marketing or social media?
While we maintain relationships with our contacts, they are not strong enough to prompt them to reach out to us when they have potential leads Additionally, our advertising, digital marketing, and social media efforts have not been consistent It may be beneficial for us to reevaluate and enhance these strategies.
You mean currently you didn’t use
SEO, facebook or twitter accounts?
Uhm… yes We ran SEO before but just 6 months for testing and then due to workload we temporarily stopped it We have facebook and twitter account managed by corporation.
Ah, how about your website? Is it a useful tools support you in sale? Can the visitor interact with your team?
Our website is currently outdated, resulting in minimal visitor interaction We are actively working on updating and innovating the site to enhance user experience Customers can access project information whenever they need it, ensuring they stay informed and engaged.
BDIZA website or contact us directly via phone or email.
Oh, you know, nowadays, digital marketing and website is vital for business People prefer surf internet for more information and save their time
Do you have staff doing market research?
As a corporation, we must adhere to headquarters procedures and obtain necessary approvals, which can be a time-consuming process Currently, our marketing research relies on manual data collection from the internet and press releases Additionally, our headquarters engages IPC (Jones Lang LaSalle) to conduct research twice a year; however, the information provided is often quite general.
While we largely adhered to our marketing plan, certain aspects, particularly traditional advertising and visual branding, have not been actively implemented recently Moving forward, we aim to prioritize exhibitions and events to enhance our marketing strategy.
Do you have criteria to appraise your work? And what are they? (If any)
Yes All departments in company use balance- score-card to monitor and appraise our work and result.
Do you have any special activities, events to attract the prospects and build relationship with existing tenants? And what are they?
For existing tenants, we organized year-end party to say thank as they trust us and locate in our park.
For prospects, we often organize road trips, exhibitions to promote investment Besides, we host group of investors to visit the park and present information to them.
What is the main way you find your prospects or the prospects come to you?
We link with association and other channels as mentioned above For the prospects, they usually come to consultant companies whenever they intend to invest to another country.
What is your measurement to assess risk of business?
How long do you plan to sell out land of project?
Our strategy aims to sell out the land in phases 1 and 2 within five years Successfully completing these sales will facilitate the overall project completion However, we acknowledge the challenges posed by a competitive market.
How are your price and location as well as amenities?
In the initial phase of our project, we provide land at a competitive price that is slightly lower than the market average Our pricing remains attractive compared to similar offerings from competitors Additionally, our project boasts high-quality infrastructure and adheres to international management standards, featuring facilities such as a dormitory and canteen for workers and senior officers Future developments will include a soccer field and tennis court, creating an excellent environment that enhances our competitive pricing.
Normally is your contract big or small?
And mostly from which countries?
We are currently facing challenges in retaining significant prospects due to competition To enhance our appeal and attract more companies, we are focusing on bringing in key players to our project Our tenant base primarily consists of international companies, particularly from Korea, Japan, Singapore, and Taiwan, with only one local factory and one French tenant in our industrial park While both the European and local markets present substantial opportunities, we have yet to capitalize on them Therefore, it is essential to revise our marketing strategies to better engage these markets.
What are your main competitors? VSIPI, VSIP II, Long Duc, Nhon Trach
For your existing customers, did any of them move to another park after operating in your project?
No, never But there was a case that the customer signed the In-principle Agreement of
Our unique selling point lies in our strategic location, offering premium business spaces and high-quality infrastructure We foster industry clusters that provide integrated customer solutions, creating a dynamic work-live-play-learn environment for all stakeholders.
Does your project ensure of those unique selling points you have told me? Any item still not available?
We are committed to creating and enhancing our park with the goal of providing our tenants with a convenient and comfortable working environment We have successfully developed most of our unique selling points; however, we are still working on establishing the industry cluster due to current low occupancy levels.
What are integrated solutions in your park?
We are committed to supporting our tenants by offering comprehensive human resources assistance, hassle-free business startup services, a one-stop solution for their needs, and online customs clearance.
Do you build a good relationship with the authorities? Why don’t you set up customs clearance at site but online?
To effectively attract Foreign Direct Investment (FDI), it is essential to maintain a strong relationship with government authorities, and we have established a solid partnership with officials in Binh Duong to support our tenants as needed In terms of customs clearance, we have streamlined the process significantly; tenants can now complete their paperwork online and submit it to the port, eliminating the need for physical clearance at the port This improvement saves valuable time for our tenants,
What is your current marketing plan?
What did you do to promote your products and services to your target audiences?
Curently, our staffs go out for network, get more information to find new leads We also organize roadshows, seminars in Japan, Korea, Thai and Taiwan to promote investors
We make corporate gifts to present our prospects in such events to promote our brand name.
Thank you very much That’s very kind of you for spending time to have a talk with me I appreciate that Thanks again and see you.
Survey to confirm the central problem
After identifying the issue with the company's marketing strategy, a survey was conducted among agents, partners, associations, existing tenants, and consultants to confirm this problem The survey aims to assess the significance of the marketing plan for Ascendas-Protrade.
This questionnaire aims to gather data on your company's awareness for a mini research project Your honest responses are crucial for this evaluation, and we assure you that all information will be kept confidential Thank you for participating in this survey.
1 Which best describes your impression of marketing activities of Ascendas- Protrade Singapore Tech Park?
2 How do you feel about information of our upcoming event?
3 How well do you know the company?
4 Compared with a year ago, how would you rate your knowledge of the company, its strategies, goals and ongoing accomplishments?
5 Overall, how satisfied are you with our marketing campaign?
Very satisfied Satisfied Neutral Dissatisfied Very dissatisfied
6 How satisfied are you with our products and services?
Very satisfied Satisfied Neutral Dissatisfied Very dissatisfied
7 How much do you know about our updated information?
8 How do you know us?
Solutions To Build Effective Marketing Strategies For Ascendas-Protrade Singapore Tech Park Nothing
9 Will you introduce us with your friends/partners/customers?
10 How do you feel about our sales and marketing team?
Very Professional Professional Neutral Unprofessional Very Unprofessioanal
11 How would you rate our park?
Excellent Very good Good Fair Poor
Solutions To Build Effective Marketing Strategies For Ascendas-Protrade Singapore Tech ParkOur website/Press Release
Which best describes your impression of marketing activities of Ascendas-Protrade
Very creative Creative Normal Lack of creative Poor
How do you feel about information of our upcoming event? 0.00% 0.00%
Very impressive Impressive Normal Not impressive Boring
How well do you know the company? 3.00% 7.00%
Compared with a year ago, how would you rate your knowledge of the company, its strategies, goals and ongoing accomplishments?
Solutions To Build Effective Marketing Strategies For Ascendas-Protrade Singapore Tech Park
Table 5: Result from the partners’ survey
Overall, how satisfied are you with our marketing campaign? 0.00% 1.30%
How satisfied are you with our products and services? 2.00% 7.20%
How much do you know about our updated information? 1.00% 0.00%
How do you know us?
Our website/Press Release Agents’ website
Solutions To Build Effective Marketing Strategies For Ascendas-Protrade Singapore Tech Park
Will you introduce us with your 2.00%
How do you feel about our sales and marketing team? 0.00% 0.00% Very
Very Unprofessioanal How would you rate our park?
Excellent Very goodGoodFair Poor
Survey to confirm the root cause
To define the root cause of the problem, a survey has been made to all staff in Sales and Marketing Departments.
This questionnaire is designed to gather data on your company's awareness, which is essential for our mini research We appreciate your honest responses, as your input is invaluable Rest assured that all information will be kept confidential Thank you for participating in this survey.
Please select one choice for each item Strong disagree Disagree Neutral Agree Strong
1 There is a lack of understand of market (1) (2) (3) (4) (5)
2 There is a lack of competitors overview (1) (2) (3) (4) (5)
3 You don’t have much information and activities of competitors (1) (2) (3) (4) (5)
4 Not many customers contact you via website and other social media (1) (2) (3) (4) (5)
5 Events, seminars were organized regularly but didn’t brought real customers to your project
6 You don’t periodically make customers survey for project awareness
7 You don’t have good supports from the partners and associations (1) (2) (3) (4) (5)
8 There is a lack of strong relationship with partners and associations
Tenants Feedback
We appreciate your business and thank you for allowing us to serve you To ensure we meet your expectations, please take a few minutes to share your feedback on the service you have received so far Your input is invaluable to us.
Please choose one number for each item Strongly
1 I’m satisfied with my decision to locate in APSTP 1 2 3 4 5
2 If I could do it again, I’ll locate in another park 1 2 3 4 5
4 I’m satisfied with the company sales & marketing team 1 2 3 4 5
5 The company events are creative and interesting 1 2 3 4 5
6 I’m satisfied with the project management and customer services at APSTP 1 2 3 4 5
7 I’m satisfied with overall quality of APSTP 1 2 3 4 5
8 I’m happy with amenities and integrated customer solutions of
9 I’m satisfied with company procedures and supports 1 2 3 4 5
10 Base on your awareness of APSTP, it’s better than other brands of industrial park? 1 2 3 4 5
Table 6: Results from tenants’ survey (25 tenants in the park)
I’m satisfied with my decision to locate in APSTP
If I could do it again, I’ll locate in another park
I’m satisfied with the company sales & marketing team
The company events are creative and interesting
I’m satisfied with the project management and customer services at APSTP
I’m satisfied with overall quality of
I’m happy with amenities and 8% 52% 8% 32% 0% 2.64 integrated customer solutions of
I’m satisfied with company procedures and supports
Figure 2: Results from tenants’ survey
Researching scholarly literature revealed the underlying causes of the issues faced by Ascendas-Protrade Singapore Tech Park, highlighting the key factors that influence its marketing strategy.
Table 7: Literature Review – Factors influencing marketing plan
1 Borders (2006) UK - Integrated solutions (synergy), incentives, company culture, channel of communication, target customers
2 Walsh & Lipinski (2009) US - target customers, choice of strategic partners, integrated solutions, customer satisfaction
3 Homburg, Workman, & Krohmer US, - choice of strategic partners, integrated
(1999) Germany solutions, market research, market analysis
4 Capik (2007) Europe - promotion, PR activities, business relationship, networks
5 Campbell (1997) US - Business relationship, partnership
6 Xie (2012) UK - Local market knowledge
7 Kirmani & Campbell (2004) US - Agent relationship
8 Tse, Sin, Yau, Lee & Chow (2004) China - integrated marketing organization, enhance relationship with customers, marketing channels relationship
10 Tay (2001) UK - Customer retention, marketing differentiation (communication, brand image…), market research
11 Fuchs & Diamantopoulos (2010) Europe - Brand perception , brand position, target customers, marketing communication
12 Ranjbar, Shirazi & Blooki (2014) UK - Communication, culture, commitment
13 Li & Davies (2001) UK - Information system, communication
14 Roth (1995) US - Brand image, advertising, market research
15 Yeh, Lee & Pai (2012) Taiwan - Information technology
16 Li, Kinman, Duan & Edwards (2000) UK - Communication of information
17 Chittenden & Rettie (2003) UK - digital communication (direct mail), customer retention
18 Shaw (2012) UK - Market segmentation, market penetration
19 Jocumsen (2004) Australia - taxation, industrial relations policies and legislation, exchange rates, political instability (domestic and overseas)
20 Tu (2011) China - market research, industry clusters, dissemination of information
Table 8: Evaluate and Compare The Alternative Solutions Result
Solutions Strength Weakness Opportunity Threat
Market research and provide integrated product and services
The company can deliver service excellence by taking full advantage of its ability to create effective solutions for customers.
Need to give initiatives and creation in work regularly.
To bring benefits for company and customers as well
It can shape an organization to become future- proofed for further evolution as service standards continue to develop, adapt and grow.
Outdated, old-style thinking need to be omitted.
Build strong relationship with associations and partners
Information sharing, supporting, connecting from many partners in in time and save time.
The chance to approach new customers is much higher so the opportunity to get new leads is higher, too.
Information trust need to be checked to save time and cost.
Technology significantly reduces production costs, enabling businesses to expand their market reach through targeted advertising on websites and social media platforms This approach not only enhances visibility but also serves as a valuable support channel for sales representatives.
It may confuse the buyer. communication tool in business between seller and buyer so sale can be increased. wrong end- consumers.
Build strong relationship with associations, agents and partners Objectives Set up relationship with local associations
Set up strong and good relationship with Government Set up closely relationship with International Associations, Banks and Embassy
Set up relationship with agents, partners, sub-brokers and international property companies.
Actions Set schedule to meet up with international associations, local associations, banks, agents, sub-brokers, international property companies on route.
Maintain these relationships by hangout, catchup regularly Besides, exchange information to each other on market, projects, occupancy rate.
Meet up with authorities and embassy to update information and retain relationship.
Set budget of Tet gift for those connections.
Engaging in associations to become their member to take part in event, network.
Celebrate factory tour/event to invite members of local associations to join to promote project.
Send quarterly newsletter to those connection to keep them updated of the project.
Head of Sales and Marketing Department Sales and Marketing Manager
Sales and Marketing staff Change Organization Increase new leads
Increase site visit Increase deal closed and company turn over Staff motivation enhancement
The communication plan involves informing the head of the sales and marketing department about the new activities and creations A meeting will be scheduled to discuss and evaluate the feasibility of the proposed plan.
- Department meeting to get feedback, comments for a complete plan.
- Sending the final plan and cost estimating to director for approval.
- After approval signed, implement the plan The whole team will have quarterly, monthly, weekly plan to be easy to carry on and follow up.
- Team need to prepare quarterly, monthly, weekly report for their activities accordingly.
- Look back after every month to retrieve the actual result and improve the situation.
Every organization has its unique marketing strategy and plan aimed at maximizing profits and achieving optimal results For growing businesses, a well-defined marketing action plan is crucial to guide relevant marketing activities (Butler, 1996) Ascendas-Protrade, for instance, should intensify its marketing efforts, particularly in networking, to enhance sales volume and differentiate itself in the market, thereby generating and sustaining a competitive advantage The Ascendas-Protrade Singapore Tech Park exemplifies a modern industrial park that promotes a professional work environment based on the work-live-play-learn concept With the implementation of a robust marketing plan, this park can experience rapid development and growth, becoming an attractive hub filled with creativity and entertainment for investors.
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Solutions To Build Effective Marketing Strategies For Ascendas-Protrade Singapore Tech Park