(TIỂU LUẬN) bluetronics strategy to join the cambodian market

ĐẠI HỌC UEH TRƯỜNG KINH DOANH KHOA KINH DOANH QUỐC TẾ - MARKETING Tiểu luận cuối kì Mơn học: Kinh doanh quốc tế II Giảng viên: Dương Ngọc Hồng Mã lớp học phần: 21C1BUS5030581 Sinh viên: Lê Hồng Phúc Khóa – Lớp: K45 – IBC03 MSSV: 31191025878 Nhóm: (ĐIỆN MÁY XANH) Contents Preface I Company profile Brief introduction of Blutronics Financial performance Current international operations II Entry mode Cambodian market environment analysis 1.1 Geography 1.2 Political 1.3 Economic 1.4 Technology 1.5 Consumer behavior 1.6 Competition Analyzing entry modes used by Bluetronics III Global strategy in one function 10 Analyzing the firm standardization 10 Definition 10 a Standardization 10 b Adaptation 10 Global strategy of Bluetronics 10 Bluetronics' 4p Marketing mix strategy 11 IV 3.1 Product 11 3.2 Price 12 3.3 Place 12 3.4 Promotion 14 Issues related to Bluetronics supply chain 16 Description of elements in Bluetronics' supply chain 16 1.1 Material flow: 16 1.2 Information flow 17 1.3 Capital flow 19 Issues faced by the firm and recommendation 19 2.1 Operational issues 19 2.1.1 Supply chain management issues 19 2.1.2 Decrease in inventory value 21 2.2 Human resources issues 21 2.3 Strategic issues 22 2.3.1 Industry saturation issues 22 2.3.2 Competition issues 22 2.3.3 Macroeconomic issues 23 2.4 Legal issues 23 2.5 Issues with the information technology (IT) division's network security 23 Issues that Bluetronics faces in plague context 23 3.1 Customers' prudence 24 3.2 Business supply chain interruption and transportation issues 25 3.3 Ensure employee safety 26 3.4 Respond to the unexpected growth in online shopping demand 26 References 30 Preface The globe has become ever more global Several Asian economies, including Vietnam, have maintained fast economic growth New multinational corporations emerged from developing countries as well as the world's major industrial giants The globalization of the international economy has increasingly impacted various enterprises of all sorts, from the very large to the incredibly tiny Embracing the Vietnamese economy's current globalization trend, Mobile World Group (MWG) seeks to develop local commercial activities and explore and grow into an international playground Cambodia is both a new electronics market and an established Mobile World market When MWG initially entered this market three years ago, it brought the BigPhone model, which is akin to thegioididong.com, in its native country At this time, smallscale mobile and phone stores occupied a considerable market share in Cambodia Importing authentic items and selling them at the quoted rates makes it challenging for the BigPhone business to compete However, they did not abandon trial and error to establish the best model and then repeat it on a big scale Following acclimating to the market, the approach has now shifted Bluetronics is claimed to be a more optimum model since it allows for a more fantastic shopping space and a more comprehensive range of items, ranging from consumer electronics and home appliances to phones and accessories Recognizing the potential for Bluetronics to thrive in Cambodia, I chose the study topic for my essay as "Bluetronics' strategy to join the Cambodian market" to investigate how the firm handles the dynamic international business climate by identifying specific challenges Linked to its marketing and supply chain management while operating in the Cambodian market, and then make recommendations for Bluetronics to enhance their performance I Company profile Brief introduction of Blutronics Bluetronics (owned by Mobile World Group) is an improved version of Bigphone, founded in Cambodia in 2017 Based on the winning formula of Dien May Xanh in Vietnam, this model has been modified to meet Cambodia's local culture and consumer tastes This Cambodian retail network of mobile devices, accessories, and communications services has 18 outlets in Phnom Penh during its first three years Bluetronics operated 37 outlets in eight of Cambodia's 25 provinces by 2020 They specialize in selling genuine mobile devices and consumer goods, providing high-quality aftersales services, and collaborating with consumer financing institutions for installment sales, which customers in this market have not had in conventional mom-and-pop businesses According to the estimate, Mobile World's Bluetronics electronics network in Cambodia would have 50 outlets by the end of February 2021, Financial performance Bluetronics' regular monthly income ranges from 1.2 to 1.5 billion VND/supermarket MWG reported a consolidated net income of VND 30,827 billion in the first three months of 2021, a 5% increase over the same time last year, and an EAT of VND 1,337 billion (up 18 percent over the same period) Consequently, MWG has achieved 25% of its revenue objective and 28% of its full-year NPAT target Revenue reached more than 9,100 billion dongs in March 2021 alone, and EAT received more than 338 billion dongs, up by 3% and 18%, respectively, over the same last year According to the business cycle, March has the lowest revenue of the year (only months of operation with a minimum of 30 days) since it follows the high sales season during the Lunar New Year Revenue often recovers in the second quarter due to the onset of the hot season (peak season for refrigeration) and the return of FMCGs following Tet (for food and consumer goods) The net profit margin for the first quarter of 2021 was 4.3 percent, up 0.4 percent points from 3.9 percent in Q1/2020, owing mainly to an increase in the gross profit margin from 21 percent to around 23 percent Current international operations On January 15, 2021, Bluetronics of Mobile World organized an event in Cambodia to commemorate the official milestone of reaching the 50th store, encompassing 13/25 provinces With this volume, Bluetronics, from "rookie" to "big brother," swiftly became the game's leader in the Cambodian market Bluetronics' retail sales scale is now nearly the largest in Cambodia Despite the epidemic's odd ups and downs, competitors believe Bluetronics has a market share Retailers and brick-and-mortar stores in Cambodia are "afraid" of the chain's rapid development and frequently changing promotions, which cause them to fall behind or be forced to run in terms of "extra lucky money" for clients utilizing KOLs II Entry mode Cambodian market environment analysis 1.1 Geography Cambodia is a market that shares a border with Vietnam, with nine shared border provinces, nine international border gates, nine national border gates, 30 sub-border gates, and several trails that are generally level The canal system is ideal for transport on both sides of the city Only 230 kilometers separate Ho Chi Minh City from Phnom Penh As a result, the two nations have numerous advantageous conditions to encourage collaboration in various industries, including convenient transportation and a high rate of economic growth Cambodia has a population of 15.2 million people as of July 2013, with 47 percent of the population being male and roughly 50 percent being under the age of 22 With its young and rising population, Cambodia will likely become a promising market shortly The average annual population growth rate is 2.89 percent (from 1990 to 2008) The literacy rate was 76.1 percent in 2008, while the urban population rate was 18 percent, rising at around 4.5 percent each year As a result, the fair also aims to contribute to developing partnerships and collaboration between the provinces and towns of Vietnam and Cambodia 1.2 Political Cambodia is a constitutional monarchy, with King Norodom Sihamoni as the head The power structure is divided into legislative, executive, and judicial branches, including the King, the Council of Kings, the Senate, the National Assembly, the Government, the Court, the Constitutional Council, and administrative agencies Cambodia follows a policy of neutrality, permanent non-alignment, non-aggression, and non-interference in other nations' internal affairs Cambodia became the tenth member of ASEAN in April 1999, the 148th official member of the World Trade Organization in September 2003, joined ASEM during the 5th ASEM Summit in Hanoi in October 2004 and is actively planning to join APEC as soon as feasible 1.3 Economic Cambodia is one of Asia's poorest countries Economic growth is difficult owing to corruption, a lack of education, a significant disparity between rich and poor, and infrastructure that is still deficient in some areas Cambodia is an agricultural country that accounts for 20% of agricultural land area and employs around 80% of the people Natural conditions and rare resources such as jewels, rubies, money, and timber are critical Cambodia's economy began to expand in the 1990s, as its political situation progressively stabilized and it adopted a market economy The economic growth rate is high and consistent, averaging 7-8 percent each year and exceeding 10% in some years (in the world financial crisis, GDP growth was low in 2008, only 5.5 percent, in 2009) reached 0.1 percent, and 5.9 percent in 2010) Cambodia's GDP increased by 7.3 percent in 2012, 7.6 percent in 2013, 7% in 2014, and 7.3 percent in 2015 1.4 Technology Cambodia is the only ASEAN country without e-commerce legislation Compared to Cambodia's neighbors, e-commerce is still in its early stages Its development is hampered by insufficient internet infrastructure for a small audience, a complicated distribution mechanism, and low credit card usage Furthermore, practically all transactions are done in cash, which adds to the relationship's security and cost concerns Other challenges include the high cost of power and a scarcity of qualified IT specialists Some local banks have begun to provide credit cards to enable internet transactions An increasing number of online shopping sites appeal primarily to the tiny number of urban consumers who have internet access Facebook and other social media platforms are rapidly utilized for online retail and media spaces The Council of Ministers is now reviewing the proposed e-commerce law, but it has not yet been made public 1.5 Consumer behavior The number of individuals who go shopping in Cambodia has grown dramatically after the transition from closed to open markets, with just a tiny percentage reporting that they never or seldom go shopping Depending on their location and distance, Cambodians shop in the grocery store, wet market, or supermarket once or twice a month There is also a behavioral change in the young class, as they prefer to hang out with their pals at shopping centers and supermarkets rather than coffee shops The majority of customers are price-conscious While American items are frequently thought to be superb quality, many buyers will pick things from China or Thailand since they are less expensive Prices are more outstanding in Phnom Penh, where government and industry are concentrated, and branded items are more frequent There is evidence of a growing middle class sponsored by several international organizations, diplomatic missions, and international organizations Cambodians are becoming more interested in E-Commerce, both as buyers and sellers This industry's substantial untapped market potential is fueled by internet connectivity, intense smartphone usage, and a growing youthful middle class Mobile internet access is affordable, with costs below the global average and around 50% of Cambodians owning a smartphone Smartphone usage is growing at a fast rate In Cambodia, mobile e-commerce has proliferated in recent years Mobile internet connection is inexpensive, with rates falling below the worldwide average and over half of Cambodians having a smartphone Smartphone usage is rapidly increasing 1.6 Competition Campura Triangulum, kfour, and Sunsimexico were the market leaders in Cambodia's consumer electronics and home appliances Thai electric and household appliances held a dominant position in this sector until recently when they were forced to share their market share with subsequent competitors such as Vietnam, Korea, and Malaysia Cambodia's retail electronics market is relatively modest A few retailers also make warranty and after-sales assistance challenging to get The largest electronics retailer in town owns just approximately 20 outlets The total number of other chain shops in this market is fewer than 50 Analyzing entry modes used by Bluetronics Bluetronics is entering the Cambodian market using a Wholly Owned Subsidiary entry route, namely a Green Field Venture, based on the following analysis: + Although Cambodia's electrical and home appliances industry is still in its infancy, MWG is confident enough to enter it with a wholly-owned subsidiary (Bluetronics) and MWG's competitive edge in technical competency and organizational culture This form of entrance also allows Bluetronics to develop anything from the ground up rather than acquiring a pre-existing firm, as most existing domestic competitors in this sector appear to have no potential or minimal joint strategy and vision It also allows Bluetronics to be more flexible in coordinating worldwide plans (using financial power from the parent company to increase competitiveness) + Furthermore, when cost limitations are severe, it may make sense for the organization to construct its value chain to optimize value-added at each level Consequently, Bluetronics may be able to specialize in producing only a fraction of the product line or particular components of the final product, swapping parts and commodities with other subsidiaries in the company's worldwide system Establishing such a global manufacturing system needs a high level of supervision over the actions of each affiliate The various processes must accept centrally determined decisions regarding how much they will produce and how their output will be priced for transmission to the next phase Bluetronics will use the Green Field Venture method to tackle this difficulty to realize location and experience curve economies + Despite reforming its institutions and becoming a more open market, Cambodia's political position and legislation remain uncertain As a result, the sponsoring firm has complete control over the investment and can withdraw at any moment if any political concerns arise 10 III Global strategy in one function Analyzing the firm standardization Definition a Standardization Standardization is a global marketing approach in which companies establish similar features for their goods or services in home and international markets b Adaptation Product adaptation is the process of changing an existing product to meet the needs of multiple consumers or markets Companies that export their products must have an adaptation plan to guarantee that the product fits local cultural and legislative standards Global strategy of Bluetronics First, they standardize their concept by employing the same model that has shown to be quite effective in Vietnam, Dien May Xanh For example, a market coverage approach was used to enter the market by building new electronics stores in provinces and cities around Vietnam Customers will instantly see Dien May Xanh supermarket everywhere, leaving an impact and remembering the brand due to this entry The company then employs flashy advertising graphics, TV commercials, and catchy slogans and catchphrases to generate contentious content Following those TVCs and advertisements, the corporation takes advantage of numerous fan pages on social media with large users who can create trends and use photos of 'blue people' in conjunction with current trends to distribute the material on social networks Second, it is about glocalization (globalization + localization) - a product or service that is created and marketed internationally but is then justified in adapting to the culture and tastes of the buyer in a specific local market Bluetronics, in particular, has implemented the localization of the complete operation, as well as the selective learning of its success formula in Vietnam Human resources are where localization begins; just a few top managers are Vietnamese, while all Cambodians are employees Furthermore, Bluetronics localizes the structure of a purchasing and selling culture, from building layout to promotional and after-sales activities 16 Direct marketing is distinct from other promotional efforts in that it seeks out genuine orders for each item and receives information as promptly as feasible On the other hand, traditional promotional operations are concerned with identifying methods to alter Change attitudes and increase client loyalty by attracting and manipulating consumer emotion Direct marketing encourages clients to submit purchases through direct channels such as mail, phone, and the internet The current state of information technology is hugely beneficial to direct marketing efforts Direct marketing has a website bluetronics.com where clients may acquire things directly by ordering online or phoning the hotline 0977.900.200 for Bluetronics products IV Issues related to Bluetronics supply chain Description of elements in Bluetronics' supply chain 1.1 Material flow: The physical flow begins with suppliers (Samsung, Sony, and LG) and continues to the central warehouse, supermarket warehouse, and ultimately to customers However, additional items will be carried to the central warehouse, and internal trucks will be used to transfer goods to permanent supermarket warehouses on a regular basis A department inside the corporation is in charge of calculating the quantity to be divided, then synthesizing and sending data to the central warehouse about the warehouse's address to be imported 17 In terms of warehousing, the organization is confident in the quality of the supplier's goods (refrigerators) The supplier's product is difficult to replace by the creation of other suppliers for the firm, and the level of cohesiveness between the company and suppliers is quite strong The corporation will estimate the time to import items based on sales for the import timetable (on average, it will be imported once every 3-4 days) Customers who purchase items straight from the supermarket warehouse will be supplied goods from the supermarket warehouse Customers who buy online and require home delivery will have products carried and delivered to their door from the central warehouse or the nearby supermarket warehouse When damaged products must be returned, the supplier's team will visit the customer's home to inspect and exchange the goods Because the firm has a set staff structure to handle the two sides' collaboration and routinely contact and exchange every day, difficulties are resolved swiftly And effectively Furthermore, suppliers and businesses share inventory expenses, making storage more practical The supplier also participates in the firm's warranty and maintenance If there is a problem with technical faults, the provider must resolve the repair and warranty issues outlined in the commitment and agreement 1.2 Information flow a Information exchanged between the suppliers and the corporations: Suppliers (Samsung, Sony, LG) regularly exchange information with the company, mainly about the number of orders, prices, sales volumes, price planning, promotions, consumer demand forecasting, competitors, and market identification Enterprises and businesses exchange information via various channels, including telephone, fax, internal information system, and face-to-face meetings Information is reliably transmitted between suppliers and businesses When there is fresh, consistent, and reliable information regarding the sales volume, production planning, or a change in the pricing of goods, the firm is promptly alerted Furthermore, 18 the supplier and the firm discussed market demand forecasting so that the company proactively stockpiled items in considerable amounts during peak season, extensively studied the reaction Customer input is necessary to ensure that the company's customer service procedures are suitable b information exchanged between the supplier and the central warehouse: Along the supply chain, central warehouses share information on delivery schedules, such as delivery history, the number of items, projected time, mode of transportation, inventory management, and inventory costs Specifically, the supplier and the central warehouse regularly update information on product categorization daily to regulate the number of items produced and delivered on time c information exchanged between suppliers and supermarket warehouses The amount of items from the supermarket warehouse is transferred to the supplier to distribute the goods into the reasonable warehouse When a consumer purchases a faulty product and returns it, the supermarket sends information to the supplier to resolve the client's issue d Information exchanged between the corporation and the central warehouse: Information about the number of items in the warehouse, the storage procedure, inventory expenses, and storage charges e Information exchanged between the corporation and the supermarket warehouse: The organization manages sales data to generate income and client feedback to develop services and infrastructure to fulfill consumer demands f Information exchanged between the central warehouse and the supermarket warehouse: Supermarkets and central warehouses connect inventory and sales of items sold data Product categorization data is updated on a daily basis Assume that the information regarding the number of goods in the supermarket warehouse is either too much or too 19 insufficient In that instance, the central warehouse must depend on the information to appropriately manage the import of products g Information exchanged between supermarket warehouses and customers: Customers may discover a wide range of information on products and services in supermarkets, as well as guidance and sales advertisements to help them locate the correct items and services When clients decide what they want to buy Following the completion of the order, the sales team will contact the client to arrange delivery The customer service department will be in charge of gathering information about customers' thoughts and reporting it back to the firm to evaluate the operation 1.3 Capital flow Customers' money is transferred to supermarket warehouses Following that, money flows will continue to flow straight to the firm and then to suppliers Furthermore, capital will be transferred from central warehouses to supermarket warehouses When the client pays for the requested order, the customer will deposit 3050 percent of the purchase amount When the products arrive, the consumer will spend the remainder Customers may pay for the business in a variety of ways, including cash, transfer, or credit card The funds will then be transferred to the corporation, along with payment obligations to other suppliers Capital moves from the central warehouse to the supermarket distribution centers Customers that order items straight from the central warehouse and pay for the central warehouse will have their money moved back to the supermarket warehouse, restarting the cycle The company's payment to the supplier will be made according to the two parties' commitment contract to preserve a long-term cooperation relationship Issues faced by the firm and recommendation 2.1 Operational issues 2.1.1 Supply chain management issues An extensive inventory facility close to the customer's location improves responsiveness, flexibility, and cost-effectiveness An ample inventory supply will allow you to reply to consumers rapidly, but it will diminish your cost-efficiency 20 Because the supermarket system is too broad and the shop opening pace is quick, the discrepancy between the selling price and the cost is enormous, resulting in high selling and administrative expenditures In contrast, it takes time for new stores to achieve consistent income In comparison to rivals, service expenses are relatively high, and there is a collection fee for receivable orders (while competitors not have this cost) The customer service helpline frequently gets stuck in a network bottleneck or cannot be reached, making it difficult for consumers to resolve critical issues Customer service via the internet is ineffective When customers' input via the website is not adequately and swiftly responded to, technology has not been used efficiently Because of the difficulties of management and the staff's reliance and neglect, the system network is too vast, resulting in worse service quality Delivery is delayed during peak periods due to a resource shortage in regions with high service demand It is simple to observe how a standstill occurs regularly during significant discount events, shopping festivals, and holidays, giving people dissatisfaction Recommendation • Bluetronics should improve the management of the company's operations and staff working procedures to provide good service performance as committed and limit management disputes in the regions • Strengthening the equipment system, particularly the communication system, to serve customers promptly when needed; failing to support consumers swiftly results in customer loss to the rival • Employees must be appropriately trained to make the most use of available resources in terms of facilities and equipment • Regulate input costs tightly (supply chain inputs) to modify unneeded quantities and offer more competitive service prices than rivals • Inspect and analyze the commercial position of branches on a regular basis to understand current problems, propose fast remedies, or eliminate unproductive retail stores • It is highly essential to highlight the importance of supply chain management; management levels must be taught, and their understanding of supply chain 21 management must be improved Bluetronics must focus on controlling supply chain elements aids to enhance corporate business efficiency and lower expenses incurred during operations to increase profits • Suppliers are a critical component; the company should focus more on developing tight connections with their suppliers, have established and long-term suppliers; and restrict the number of suppliers they use Continuous supply harms the reputation and efficiency of the workplace 2.1.2 Decrease in inventory value When a new model is introduced to the market, the manufacturer will cut the previous model's price Bluetronics will not guarantee the selling price of outmoded goods from prior models if firms not manage inventory efficiently Recommendation Bluetronics should develop an effective ERP system to follow the course of each product based on its International Mobile Equipment Identity (IMEI) number to provide stringent first-in, first-out (FIFO) inventory accounting management As a result, producers guarantee the bulk of inventories The FIFO control system will quickly warn you if a product enters the shop first but is not sold first This approach also assists regular or irregular stocktaking in detecting shop losses as soon as feasible When losses occur, an individual or team will be held accountable even if they are at a relatively low rate 2.2 Human resources issues The growing number of employees makes human resource management a more difficult task Among the worries are the loss of commodities owing to employee greed, corruption in supplier selection, the acceptance of bribes for picking leasing premises, and brain drain Recommendation Blutronics should take several steps to improve human resource management, including (i) developing an ethical culture for all employees, (ii) developing appropriate reward mechanisms, (iii) forming an internal control team to support IT with regular checking to prevent irregularities, and (iv) developing concrete legislation with external parties such as goods suppliers, tenants of premises, or buyers 22 It is vital to efficiently allocate resources, particularly human resources, to reduce the scarcity of people, delay or create discomfort to consumers and the company's operation Bluetronics need to focus on human resource training Sales workers should be eager and soft, and delivery staff must be friendly since for "service," servicing customers is not simply any individual's obligation that of everyone in the company Human resource management, control, and effective use must be tightened Human resource management is one of the most critical aspects of an effective system 2.3 Strategic issues 2.3.1 Industry saturation issues The domestic retail phone and consumer electronics industries are weakening, making it difficult for the corporation to continue its growth rate Recommendation To sustain its rapid expansion, the firm should actively raise the number of new goods in the mobile phone and home electronics sectors to provide clients with additional options Furthermore, the organization is continuously seeking new consumers and global markets 2.3.2 Competition issues Cambodia is following the worldwide economic trend of eliminating agreements prohibiting foreign investment As a result, market competition is expanding, as is the advent of substantial international merchants, particularly competitors from developed nations with substantial finances prepared to absorb the loss to gain market share Recommendation Bluetronics should follow the business concept of putting customers first and providing the best service possible to maintain existing customers and attract new ones Furthermore, the company should aim to improve the online sales interface on mobile phones and websites, and applications to improve the consumer experience The sales policy of each product is also flexible to shifting market conditions 23 2.3.3 Macroeconomic issues In the future, customers' discretionary income may be impacted by an unstable exchange rate, natural calamity, or another pandemic These are the hardest to foresee and mitigate dangers for the firm Recommendation Bluetronics can adopt financial measures and contingency plans to reduce the impact of exchange rate changes on company outcomes - the reaction time 2.4 Legal issues Complaints This issue relates to the company's capacity to be sued on behalf of an individual Alternatively, the corporation produces items or services that not meet the initial commitment Recommendation The company takes steps to detect and reduce the risk of litigation, such as assuring product safety and adhering to all applicable laws and regulations 2.5 Issues with the information technology (IT) division's network security The company's fast growth necessitates a considerable quantity of resources from the IT division The company's IT division focuses on rapidly developing and completing procedures to fulfill customer demand Because of the rapid speed, there is little time for analyzing IT operational procedures and cyber security concerns Recommendation The company can implement the following steps to ensure seamless system functioning and security: (i) establishing a security operations center; (ii) improving the inspection of the company's complete server; (iii) cleaning the entire server on a regular basis; and (iv) assessing the process of software development Issues that Bluetronics faces in plague context The Covid pandemic, which began abruptly at the end of 2019 and is still developing in a convoluted manner, has generated an unpredictable shock for all worldwide economies and people's lives The world economic map continues to show negative growth 24 numbers, indicating that the world's most powerful countries are trying to recover from the crisis The retail business is critical because it serves as a link between production and consumption In the context of the COVID-19 outbreak, the retail industry is increasingly significant since it helps to keep the supply chain of products production and consumption from being disrupted Meanwhile, the electronics group, which accounts for a large portion of income, is being severely impacted, and Bluetronics has been experiencing several challenges affecting the company's commercial operations: 3.1 Customers' prudence Most families try to stock up on essentials, eat at home, and minimize outside intake during an outbreak Instant noodles, rice, pasteurized products, personal hygiene items, vegetables and fruits, milk, frozen food, meat-based cuisine, fish, and shrimp are the most often stored products As a result, sales of non-essential items such as clothing, shoes, and cosmetics fell precipitously during this period, which is a direct cause that significantly impacts Bluetronics Because of the Covid-19 epidemic's fear of infection and the execution of the government's social distance policy, the number of consumers shopping at Bluetronics retail sites began to fall until the stores completely shuttered during the countrywide social distancing period After the pandemic, there was still a considerable drop in tourist numbers in major cities like Phnom Penh and Siem Reap Because income does not meet operational costs, several branches were forced to relinquish or temporarily close Recommendation Concentrate on crisis and liquidity management: balance cash flow, eliminate wasteful expenditure, and continuously monitor debt In order to keep a suitable financial reserve, property acquisition plans may consider shelving and opt for alternatives such as leasing Create short-term value by assessing and recommending options that may be applied quickly to boost operational efficiency and cash flow Examine the company's investment portfolio and sell or divest as needed, reallocate investing resources to maximize efficiency, and optimize the company's loans In addition, evaluate the product structure, customer structure, and pricing strategy; 25 evaluate procurement and supply chain expenses, optimize taxes, and optimize working capital Focus on strategic repositioning through redesigning the company model, rethinking the growth model, diversifying the supply chain, and redesigning how it reacts to better and more effectively connect with behavior and consumer demands since this is the essence of the "new normal" epoch 3.2 Business supply chain interruption and transportation issues Localities have used harsh infection protection methods in the past, such as restricting travel, limiting circulation across regions, and mandating obligatory isolation It is worth noting that each municipality has its own laws, which are inconsistent and continually changing in terms of freight transport licenses This problem causes firms to fail to respond in time when labor and raw materials are scarce, and the idea of "essential products" varies from place to place, complicating the transit and circulation of goods As a result, the supply chain is broken, resulting in a scarcity of workers, drivers, and human resources to keep corporate operations running Recommendation • Consider transferring production facilities to another country • Employees' work schedules should be aligned with general policy, and local employment should be promoted • Change the supply plan to account for significant material availability issues • Review and update your inventory plan to verify that it is ready for future emergencies and that it can be scaled up or down as needed • Strengthen the supplier diversity plan to emphasize small, local suppliers to aid community reconstruction • Scale-up with a speedy evaluation of third-party and supply chain partners • Bluetronics must maintain active communication with manufacturers and suppliers, constantly with producers, to get items as soon as feasible Simultaneously, there are various possibilities to have several alternative suppliers available for cases where a specific supplier cannot fulfill or is barred due to a COVID-19 case 26 3.3 Ensure employee safety Faced with the tremendous impact of the pandemic on employee life, employment, and income, Bluetronics has resolved that safeguarding worker health and safety is one of the most critical jobs Recommendation • Vaccinate all personnel in the system against COVID-19 • Provide access to medical support teams • Implement the following policies and measures to guarantee a safe working environment • Create and execute cleaning procedures, as well as a rigid cleaning schedule • Design and execute regulations for the use of protective equipment and the safe separation of workers • Identify and put in place suitable procedures to restrict the number of persons who come to work, such as splitting work shifts and assigning breaks • Implement health evaluations (e.g., temperature checks, workplace exercise) following rules and privacy • Define the guest screening method/process; evaluate backup workforce management methods to ensure that staff is aware of who works in the office and where they have been Make plans to minimize overcrowding in the workplace, such as core staff, staggered shifts/teams, and rotation • Refurbishment of office infrastructure (for example, equipping workstations with mica screens to minimize close contact between employees) • Redesign of personal workplaces to provide distance between personnel • Invest in tools and infrastructure to facilitate secure remote working (for example, online applications, network bandwidth, laptops, Wifi/VPN access, management access and identity management, data assurance, detection, and reaction) 3.4 Respond to the unexpected growth in online shopping demand The outbreak has pushed the transfer of many customers from physical to online buying as a necessary option in social separation and infection avoidance Bluetronics, on the other hand, had several obstacles as a result of the quick shift in channel selection 27 Meanwhile, more and more online shopping also implies that firms must invest more in technology, sales support, supply chain management, and delivery operations to improve the system, process orders, and deliver products to achieve a better understanding of the customers' needs Recommendation To diversify its economy, Cambodia is steadily expanding its investment in technology Ms Meas Sopheary, Chairman of Cambodia Post E-Solutions PLC, stated that Tinh Tinh E-commerce is Cambodia's only certified online shopping platform, offering thousands of high-quality items Here are the e-commerce channel tactics that Bluetronics should employ while joining the Tinh Tinh platform: Offer multiple payment methods • Electronic modes of payment are widely employed, largely displacing the need for cash Card payment, payment via payment gateway, payment via e-wallet, and payment via mobile devices are the four most common types of electronic payment • Providing buyers with multiple payment alternatives may boost conversion rates and encourage client loyalty Adopting an e-commerce company strategy focused on delivering different payment choices has numerous advantages, including: • Customer convenience and expectations • Increase your consumer base • Increasing business trust Appealing refund and return policy Because of a new form of buying experience, e-commerce companies with a return policy tend to attract a more considerable number of consumers and improve customers' purchasing enthusiasm Customers may also return items to the provider if the following requirements are met: the buyer paid but did not get the goods, the consumer did not receive the complete purchased product, or the product obtained is counterfeit Furthermore, when products 28 were damaged during shipment, the product is entirely different from the seller's description supplied in the product description Adaptable shipping solutions The modes of transportation are becoming more diversified and rich as e-commerce develops There are now various shipping firms in Cambodia, including ABL Cambodia, BSK Regional Express Services, and DHL Express Cambodia Limited… Transportation of products is critical in e-commerce because it allows purchasers to obtain things without having to go to the point of sale, which has an impact on the quality of an enterprise's services and goods If the items are sent fast, and of high quality, customer satisfaction rises immediately, and the potential to return grows Not every company that produces e-commerce provides delivery Customers should thus integrate shipping into their own platform in order to monitor orders and delivery status in a single platform Provide a unified channel experience It is critical to provide a consistent experience across all channels, including websites, applications, social media, goods, staff (customer support and sales), and physical locations This contact creates a link between emotions and logic, which helps clients fall in love with your business The more linked the experience of purchasing goods and using services, the more likely customers will have a long-term relationship with the company The market is becoming increasingly competitive, and developing seamless experiences is extremely tough; this may be a unique way for firms to differentiate themselves or gain a competitive edge Leaders in this strategy outperformed their colleagues by a substantial profit margin in terms of major business goals Customers are at the core of every plan and design; in order to provide a seamless experience, organizations must have consensus from the top down 29 Create a user-oriented experience Consumer orientation is the core concern, and it is the key to attaining company objectives Companies and enterprises that recognize the importance of customer orientation can improve their marketing success Consumer satisfaction is used as the performance criterion in consumer orientation To accomplish so, it is vital to define the target market, understand the requirements and desires of customers, provide goods that meet their expectations, and take care of customer proposals Conclusion When a firm enters a market, it takes its own path, a distinct development route, in order to position its brand In terms of Mobile World Group's business strategy philosophy, this brand has an extraordinary "trial and error" attitude MWG has been using the "trial and error" concept for 15 years Previously, Mobile World attempted but failed to build stores in districts, forcing it to shut Vietnam's largest retail chain has closed several projects to pursue this idea MWG performs trial opening and closing when inefficient on a regular and ongoing basis Nguyen Duc Tai, Chairman of the Board of Directors and co-founder of this chain, once stated that during the chain's 15 years of development, the "trial and error" approach was consistently applied to identify the ideal solution for the business Bluetronics established an impression on customers with the preceding Dien May Xanh model in an innovative and easy-to-follow marketing campaign Bluetronics not only invests in and manages marketing but also assures a sophisticated supply chain system, product quality elements, and customer care service implementation, all of which contribute to wonderful shopping experiences for customers Although Cambodia is not a huge market, it plays a vital role in the globalization strategy of MWG The most significant thing is that if MWG's new model success in this market, the company will have more confidence in bringing the winning strategy to larger markets outside of Vietnam, such as Indonesia, Thailand, and the Philippines 30 References Ban Quan hệ Quốc tế-VCCI HỒ SƠ THỊ TRƯỜNG CAMPUCHIA (2018) Bluetronics phát triển “nhanh chớp” Campuchia (n.d.-a) Retrieved December 2, 2021, from https://baodautu.vn/bluetronics-phat-trien-nhanh-nhu-chop-tai-campuchia-d138004.html Bluetronics phát triển “nhanh chớp” Campuchia (n.d.-b) Retrieved December 2, 2021, from https://baodautu.vn/bluetronics-phat-trien-nhanh-nhu-chop-tai-campuchia-d138004.html Campuchia: Thể chế sách kinh tế quan trọng | Vietstock (n.d.) Retrieved December 2, 2021, from https://vietstock.vn/2010/12/campuchiathe-che-va-cac-chinh-sach-kinh-te-quantrong1566-174601.htm Consumer behavior in Cambodia by Nichanan Prempipat - Issuu (n.d.) Retrieved December 3, 2021, from https://issuu.com/nichananprempipat/docs/consumer_behavior_in_cambodia Đầu tư GI (Green-Field Investment) gì? Rủi ro lợi ích đầu tư GI (n.d.) Retrieved December 3, 2021, from https://vietnambiz.vn/dau-tu-gi-green-field-investment-la-gi-rui-ro-va-loi-ich-cuadau-tu-gi-20200306113840093.htm Giới thiệu tổng quan Campuchia - CAMPUCHIA (n.d.) Retrieved December 2, 2021, from http://songoaivu.tiengiang.gov.vn/campuchia/-/asset_publisher/QSpp7P8RukDa/content/gioithieu-tong-quan-ve-campuchia Mở rộng đầu tư vào thị trường Campuchia - Báo Công an Nhân dân điện tử (n.d.) Retrieved December 2, 2021, from https://cand.com.vn/Kinh-te/Mo-rong-dau-tu-vao-thi-truongCampuchia-i93781/ MWG ước lãi tăng 18% quý lên 1.337 tỷ, 52 cửa hàng Bluetronics (n.d.) Retrieved December 2, 2021, from https://vietnamdaily.trithuccuocsong.vn/doanh-nghiep/mwg-uoc-lai-tang-18-trongquy-1-len-1337-ty-dong-113469.html Số lượng shop gấp lần đối thủ lớn “xuất ngoại” thần tốc Điện máy Xanh (n.d.) Retrieved December 3, 2021, from https://tienphong.vn/so-luong-shop-gap-3-lan-doi-thu-lonnhat-o-xuat-ngoai-than-toc-nhu-dien-may-xanh-post1281371.tpo Campuchia mắt kênh mua sắm trực tuyến lớn | Kinh doanh | Vietnam+ (VietnamPlus) (n.d.) Retrieved December 8, 2021, from https://www.vietnamplus.vn/campuchia-ra-mat-kenh-muasam-truc-tuyen-lon-nhat/590862.vnp Chiến lược doanh nghiệp – góc nhìn từ khủng hoảng (n.d.) Retrieved December 8, 2021, from https://www.ey.com/vi_vn/news/2020/eyp-vietnam-insights-into-business-strategy-with-crisisapproach Cơ hội cho ngành bán lẻ đại dịch COVID-19? (n.d.) Retrieved December 7, 2021, from https://ncov.vnanet.vn/tin-tuc/co-hoi-nao-cho-nganh-ban-le-trong-dai-dich-covid-19/f1018ec51682-48b9-bc0b-6596bdb708a1 Đứng số Campuchia, Thế Giới Di Động nhăm nhe thị trường ASEAN - ICTNews (n.d.) Retrieved December 7, 2021, from https://ictnews.vietnamnet.vn/cuoc-song-so/dung-so-1-campuchia-thegioi-di-dong-nham-nhe-thi-truong-asean-280394.html Top Các Chiến Lược Kinh Doanh Thương Mại Điện Tử (Phần 2) (n.d.) Retrieved December 8, 2021, from https://bsscommerce.com/vi/chien-luoc-kinh-doanh-thuong-mai-dien-tu/ Chiến lược kinh doanh thegioididong thị trường bán bẻ (n.d.) Retrieved December 8, 2021, from https://amis.misa.vn/31217/chien-luoc-kinh-doanh-cua-thegioididong/ ... appliances to phones and accessories Recognizing the potential for Bluetronics to thrive in Cambodia, I chose the study topic for my essay as "Bluetronics'' strategy to join the Cambodian market" to investigate... to the supplier to distribute the goods into the reasonable warehouse When a consumer purchases a faulty product and returns it, the supermarket sends information to the supplier to resolve the. .. on their location and distance, Cambodians shop in the grocery store, wet market, or supermarket once or twice a month There is also a behavioral change in the young class, as they prefer to