LUẬN văn THẠC sĩ marketing plan for s a n t a l JSC ( 2018 – 2020 ) kế hoạch marketing công ty cổ phần s a n t a l giai đoạn 2018 – 2020

THEORETICAL BASIS FOR MARKETING PLAN IN THE ENTERPRICES

Basic definition

There are many marketing definitions, below are some basic marketing definitions that the author can list:

Marketing is a form of human activity in order to satisfy their needs and desires through communication Marketing is working with the market to conduct exchanges with the purpose of satisfying needs and wants of humans (Philip Koller, 2005)

Marketing is a deliberate activity, whereby a flow of goods and services is transferred from producers to consumers or users Marketing is an activity to ensure that all necessary goods and services are available at the right time, right price

Marketing is a social management process, whereby individuals and collectives get what they need and want through creating, offering and exchanging valuable products with others (Nguyen Dinh Tho and Nguyen Thi Mai Trang, 2004)

Marketing is a planning and management process to conduct valuation, promotion, and distribution of the ideas, goods, and services aimed for creating transactions to meet personal, organizational and social goals

From the given concept of marketing, it can be seen that the above concepts have similarities that marketing activity is derived from certain objectives of the business to satisfy customers' needs, through which businesses can achieve the goals they have set

A marketing plan is a text document derived from an analysis of the market and the environment in which an administrator sets out big strategies along with short-term and medium-term goals for either a company or a specific product category; Then it is necessary to identify the means needed to achieve the above objectives and actions to be taken; Finally, people calculate the revenues and expenditures to set up the budget shown in a tracking table attached to the plan, allowing regular checking of the implementation of the plan Business marketing plan will show what the company hopes to achieve, the ways they implementand when can they achieve the objectives (Vo Thi Kim Tuyen, 2006)

The marketing plan of the business is considered as the marketing plan of the operational unit It is specified from the planningdesk of the specialist levelor the regional level with one or more specific products, a specific market and specific competitors Although the construction steps of the two levels, including senior and executive levels are the same, the details and scale of the steps of these two levelsare deployed in different scales, using different tools (Nguyen Quang Thu, 2007)

Develop a marketing plan that includes systematic activities to help businesses form specific action-based programs to enforce commong marketing strategies of the business.

Objectives, mission and roles of marketing plans

1.2.1 Objective of the marketing plan

According to Tran Thi Bich Lien (2008), marketing plans are designed to aim at three main objectives:

- Satisfying customers: Satisfying customers is an important issue for the businesses Marketing plans of the businesses aim at meeting customers' needs, making customers more satisfied and loyal to the business

- Enhancing competitive capacity: Marketing plans aim to help businesses respond well to challenges in a competitive environment, ensuring the competitive position of businesses in the market

- Ensuring long-term profitability for the businesses: The marketing plan of the business is built to create the necessary profit level to help businesses accumulate and develop

1.2.2 Mission of the marketing plan

According to Vo Ngoc Toan (2004), the task of marketing plans is to make enterprises definitely aware of business results and directions This is an important method for the coordinating activities in enterprises

The marketing plan forms the framework for the activities of employees in different parts of the organization so that they can worktogether in a coordinated manner to well accomplish the goals of businesses

Marketing plan is the basis of every plan in the business: Just like market demand Business demand is a constant called a demand function of the enterprises

This function depends on all factors affecting market demand and industry demand

Business demand corresponds to sales achieved for different commercial efforts

Therefore, businesses need to make a forecast of sales In other words, they need to setup marketing plans to perform forecasting tasks and build certain marketing programs appropriate to market conditions

Mixed Marketing and Marketing Plan are very important activities in business operations of the enterprises, especially commercial and service enterprises (Huynh Phu Thinh, 2008) Marketing plans help businesses find useful information about the market, conditions to expand markets and increase business scale The implementation of marketing plans helps businesses dominate the market to increase market share, accelerate the consumption rate by improving competitiveness and satisfying customer needs Thanks to the marketing plans, the activities of the business are implemented in a synchronous way, the enterprise will reach the potential market, conquer and entice customers and it can be said that the marketing plan is a bridge to help businesses closer to the market (Ly Xuan Hong, 2006)

Developing a marketing plan will help the businesses understand the purpose and direction of the business aimed at the target market This is the very factor that unites all individuals as well as parts of the organization to work together to achieve common goals Planning a marketing plan helps businesses to grasp opportunities, risks, understand strengths and weaknesses on that basis and be able to cope with market fluctuations and obtain appropriate strategies (Ly Xuan Hong, 2006)

Marketing Plan will demonstrate the enterprise's efforts to achieve a desired position in terms of its competitive position and fluctuations in the business environment Only when setting up a marketing plan can the organization implement synchronously marketing activities starting from understanding and identifying external environmental factors, assessing other internal conditions of the Company Since then, there are policies on products, prices, distribution and promotion in order to achieve the set goals (Pham Thi Thuy Nga, 2007).

Marketing mix tools

Marketing mix is a collection of marketing tools used by the businesses to achieve a marketing focus in the target market In 1960, E Jerome McCarthy, suggested sorting marketing mix through 4P and it has become the most widely used classification in the world so far Marketing tools include: Product, Price, Distribution, Promotion

Source: Pham Thi Thuy Nga (2007)

Product policy is the foundation of mixed marketing policy, determined based on a larger-scale business plan for new products and overall marketing strategy for all existing products of the business When considering product policies, enterprises need to consider the following issues: Product quality, product design, product features, brand and product brand, packaging, service with products

Mission of the distribution channel is to bring the product to the right place, at the right time and in the right quantity The basic content of the distribution policy is to design and manage the sales network when the product is sold to the market

The sales network is a collection of channels with the participation of different entities with different strengths and reputations to successfully bring goods from manufacturing enterprises to customers Managing new sales channels of the enterprises must meet the following basic requirements:

- Consistent with the nature of the product

- Creating the most favorable conditions for customers to access and find products easily

- Review the distribution channel of competitors

- Distribution channels need to ensure increasing sales of the company and establish sustainable relationships with intermediaries

Price is always one of the leading competitive factors, especially in markets where population income is still low Along with product programs, enterprises must have appropriate price policies to create a firm foothold in the market

In the price policy for new products, businesses can pursue basic objectives such as: to survive (higher cost prices), to maximize immediate profits; to increase market share, to recover fast capital or some other competitive goals

These marketing activities include advertising, catalogs, public relations and retail, specifically advertising on television, radio, newspapers, tables announcing, bringing products into movies, talents support for television programs and massively watched radio channels, sponsorship for loyalty programs, telemarketing, direct mail sales, product introduction At home, sending catalogs to customers, public relations and especially now businesses often use paid advertising services on Google and Facebook These forms help brand and reputation as well as products / services spread farther and more widely known.

Process of developing marketing plan

The process of developing a marketing plan is also the research model of the dissertation topic as follows:

Picture 1.2: Process of developing marketing plan

Source: Vu Thi Phi Nga (2007)

The goal is the destination of the planning and strategic processis the way to get there Marketing goals represent the requirements needed to be met during the organization's operations in a specific time of the marketing plans and other short- term plans These are growth objectives, competitive goals and safety goals

- Profit, expressed in the percentage of sales or an absolute amount that the business expects to achieve after a period of time implementing the marketing plan

- Sales, expressed in the market share that the business intends to achieve or absolute sales

Budget estimation, evaluation of the effectiveness of the plan

- The number of commercial intermediaries involved in product consumption

- Recognization of the consumers and image reputation of the products and businesses in the market

Depending on each stage in the business process, marketing activities focus on specific important goals

When building a marketing plan, it is necessary to identify competitors of the business Every enterprise wants to achieve a certain growth, development and strength in the market after a while This is shown in following factors:

- Products gradually dominate the market

- Role and position of the business to the competitors

Business always contains risk Because the businesses have to spend a huge amount of capital and only after a while can it be recovered Therefore, business plans must anticipate the safety of business plans

In addition to the above objectives, marketing plans should support the goals of ensuring stable jobs for employees and giving them a stable income from which improving social life and helping society grow Besides, the issue of environmental protection is one of the compulsory requirements that the State requires enterprises to implement

PESTEL is a method of analyzing the elements of the macro environment affecting businesses It is an essential tool for administrators to regulate the company and understand what is happening around their business Each letter in PESTEL represents a factor of the business environment

Creating a healthy or unhealthy business environment depends entirely on legal factors and state management of the economy The promulgation of a quality legal system is the first condition to ensure an equal business environment for the businesses so that they have to do business in a true and responsible manner

However, if the legal system is incomplete, it will have a significant impact on the business environment, causing difficulties in production and business activities of enterprises

This is a very important factor that attracts the attention of all managers The impact of the economic environment factors is more direct and dynamic than those of some other factors in general environment The evolution of the economic environment always contains different opportunities and threats for each business in different industries and has a potential impact on the strategies of the business

There are many factors of the macro environment but it can be said that the following factors have a great influence on the business operations of enterprises

They are economic growth rate; Interest rates and the trend of interest rates in the economy; Monetary policy and exchange rate

Socio-cultural environment includes standards and values accepted and respected by a particular society or culture The change of social cultural factors is partly a consequence of castle influence of other macro factors so it often happens more slowly than other factors One of the characteristics that managers need to pay attention to is that the impact of social and cultural factors is often longer and more subtle than other factors, sometimes it is even difficult to identify The aspects of social and cultural environment formation have a strong influence on business activities such as: Concepts of morality, aesthetics, lifestyle, occupation; Customs, practices, traditions; Social concerns and priorities; General level of awareness and education of society

Besides, population or demographic environment is also a very important factor affecting other elements of the macro environment, especially social factors and economic factors Changes in the population environment will directly affect the change of the economic and social environment as well as the business strategy of the business The information of the population environment provides important data for managers in product strategy planning, market strategy, marketing strategy, distribution and advertising The areas of concern for the population environment include: Total population of society, population growth rate; Structure and trends of population changes in age, gender, ethnicity, and income distribution; Life expectancy and natural birth rate; Trends in population movement among the regions, etc

This is one of many opportunities and threats that affect the marketing plans of businesses Pressure and threats from the technology environment can be:

- The advent of new technology appears and enhances the competitive advantage of alternative products, threatening the traditional products of the existing industry

- The explosion of new technology makes existing technology obsolete and creates pressures that require businesses to innovate technology to enhance competitiveness

- The explosion of new technology makes the technology life cycle tended to shorten, from which increasing the pressure to shorten the depreciation period

In addition to these threats, opportunities that may come from the technology environment for businesses include:

- New technology can facilitate the production of cheaper products with higher quality, making products more competitive Normally, enterprises coming later have many chances to take advantage of this point rather than existing businesses in the industry

- The advent of new technology can make the product more functional and thereby create new markets for the company's products and services

The micro environment consists of internal sector factors and acts as external factors to the business, determining the nature and extent of competition in the business industry According to M.Poter, there are five basic factors, including competitors, customers, suppliers, potential new competitors and alternative products These factors are interrelated and interacted, affecting the business operations of the business In order to set a successful marketing strategy, key factors must be given into analysis Understanding these factors helps the business realize its strengths and weaknesses in relation to the opportunities and risks of the business

Emergence of new businesses directly reduces the size of competition due to increased production capacity and production volume in the industry The emergence of new competitors is likely to cause strong shocks to existing businesses because normally the latter ones often have many bases in decision making and their moves are often unpredictable

To beat potential competitors, businesses often implement product differentiation strategies, improve quality, add new features of products, constantly improve products to make their products different or outstanding in the market, or strive to reduce production and consumption costs

As a supplier of inputs to the production process, supplier power is expressed through material price pressures Some of the following characteristics of suppliers have a great influence on the competition in the industry:

- Number of suppliers:Demonstrate high or low supply levels of raw materials and suppliers Many suppliers create competition in the raw material market, which has the effect of reducing input costs for manufacturers

- Monopoly of suppliers:Creating them the conditions to keep the price as they want, causing difficulties in competing with prices

Content of the marketing plan

Typically, a marketing plan of an enterprise includes the following information:

Overview: Presenting the market context, introducing the context of the marketing plan, evaluating the business situation in previous years, determining the marketing objectives of enterprises

Analysis: Macro and micro analysis, focusing on emphasizing unusual trends and developments in needs, rivals, identifying challenges that may have an impact on business operations of enterprises

Identify target market: Identify target market segments in order of priority, identify segments that are not competitive to exploit the market

Positioning: In this content, enterprises perform positioning of brands / products / services in each segment corresponding to positioning analysis of competitors

Strategy and value proposition: Identify key strategic directions, develop value proposition (DVP) for each segment, and specify marketing mix (4Ps) of each segment

Implementation plan: Concretize the contents of marketing mix into specific action that can be implemented, associated with the allocation of resources (human resources, time, and budget implementation)

Financial forecast: Forecast of financial targets and plans which are associated with the marketing plan of the enterprise.

SWOT matrix

The swot matrix is a method and tool for strategic management awareness.Four relevant points to identify the company's status and opportunities include:

- Strengths: What is the company's advantage? What work does the company do best? What resources can be used? What is the advantage that others see in the company? Consider the problem from the perspective of the company itself and the people around Reality is required in stead of the modest The advantages are often formed when comparing to competitors For example, if all competitors provide high-quality products, such a quality production process is not an advantage but a must-have to exist in the market

- Weakness: What can be improved? Which company does the worst job? What should be avoided? The issue must be considered on an internal and external basis

Others may see weaknesses that the company itself cannot see Why can competitors do better? At this time, you must make a real judgment and face the truth

- Opportunity: Where are good opportunities? What interesting trends are known? Opportunities may stem from changes in technology and markets in both international and narrow range.From changes in state policies related to the field of company operations, from changes in social patterns, population structures or fashion structures, from places of event taking in the region The most useful searching method is to review your advantages and ask yourself whether these advantages can open up new opportunities or not You can also do the opposite, review your weaknesses and ask yourself if there are any opportunities arising if they are removed

- Challenge: Obstacles are encountered? What are the competitors doing?

Are there specific changes in job requirements, product or service requirements?

What is the risk of technology change for the company? Is there a problem with overdue debt or cash flow? Is there any weakness that threaten the company? These analysis often help find things to do and turn weaknesses into prospects

Purpose of Swot analysis is to identify feasible strategies as a premise for strategic planning, the Chapter takes appropriate action; Based on the analysis of external and internal factors affecting business operations

Swot analysis model often gives 4 basic strategies:

Table1.1: Diagram of Swot matrix

Opportunities S-O strategy:based on the company's advantages, taking advantage of market opportunities

W-O strategy:overcome the weaknesses of the company by maximizing its strengths

Threats S-T strategy:based on the company's superiority to avoid market risks

S-T strategy: develop defensive plans to combat risks, avoid the harms of weaknesses

CURRENT SITUATION OF BUILDING MARKETING PLAN OF

General information about Santal Joint Stock Company

2.1.1 Overview of formation and development

Santal Joint Stock Company SANTAL was established in 2008 under the business license number 0102699355 The company is located at 11th Floor, Hilton Garden Inn Hotel, No 20 Phan Chu Trinh, Phan Chu Trinh Ward, Hoan Kiem District, Ha Cabinet

The company operates in the field of spa, health care and beauty Santal stands out with its luxurious and sophisticated design, with traditional Vietnamese features, evoking a sense of peace The open space of Santal Spa, as well as the treatment area, has different stylesbut they all aim to bring an absolute satisfaction to customers

Currently, SANTAL JSC operates with the following steps: Continuously updating advanced Spa and beauty technologies in the world through training with foreign experts for thestaff, therapists Customers come to the company, depending on the needs of customers combined with the advice of counselors, will be taken care of with appropriate and advanced processes, ensuring the highest satisfaction of customers Customers can reserve in advance, choose the type of care service, choose the type of drug, cosmetic on the basis of the advice of the care staff, receive the service and pay for those services With professional operation process, SANTAL JSC always receives good reviews from customers and businesses operating in the same field

2.1.2 The main business areas of the company

The company operates in 3 main areas including: Spa services; Beauty services and high-tech therapy services

+ For Spa services, the Company provides services including: Swedish massge services; dry, wet service; aromatic leaf bath service; love bath service;

Santal Beautiful Bliss service; The City Indulgence service; Silky Paradise service;

+ For cosmetic services, the Company provides services including: facial care, exfoliation; Nail care and hair removal

+ For high-tech therapy services: acne treatment, tattoo removal, melaleuca removal, hair removal, pore reduction, acne treatment

Currently, the company is developing quite a lot of spa with a team of experienced spa technicians and modern equipment to bring the best service quality to each customer High-tech therapy and aesthetics are still on the rise

Picture 2.1:Internal organizational structure of SANTAL JSC

(Source: Human Resources Administration Department)

Director:directly manage and make business decisions of enterprises and take legal responsibility before the law

HR & GA Department: Be in charge of activities related to management, recruitment, training, personnel in the company

+ Human Resources: in charge of jobs such as car keeping, security

+ Accouting: undertake accounting, financial affairs management, tax reporting, annual business reports

Service room: specialize in service businesses

+ High-tech therapy: Includes specialists, medical doctors and staffs in the field of high-tech therapy for customers such as melasma treatment, mole removal, permanent hair removal, etc

+ Surgery: Including specialists, medical doctors and staff for beauty surgery such as breast augmentation surgery, abdominal liposuction, eyelid surgery, etc

+ Spa: Includes a team of medical doctors and staff with experience in massage such as facial massage, foot massage, etc

Marketing department: specializes in research, development and deployment of marketing, sales promotion for businesses, directly build and implement advertising plans for businesses

Customer service department: Be in charge of customer service

+ Reception: Welcome and instruct the customers

+ Consultant: Answercustomer inquiries and consulton business services for customers

2.1.4 Some outstanding services of SANTAL JSC

1 Care for oily skin with acne bran Time: 95 minutes

Helps to cleanse the skin and pores, reduce sebum secretion, prevent the development of acne, make skin become smooth and clean

2 Skin care for normal to dry skin Time: 95 minutes

Helps strengthen blood circulation for skin, provides nutrients with rich vitamins to give customers soft and moist skin like mist

3 Care for mixed skin Time: 95 minutes

Balance the cycle of cell regeneration, clean the skin and creates a bright, glowing skin

4 Aging skin care Time: 70 minutes The company uses ingredients rich in fatty acids, lecithin and vitamins, a mixture of egg yolks, honey and yogurt to do the skin carefor the aging skin of the customers

5 Special care for pigmentation, freckle skin Time: 120 minutes

Balance the cell turnover cycle, treating melasma and darkening areas by using specialized products to remove dead skin cells, allergens and giving the customers a bright, healthy white skin strong

1 Thai body massage Time: 95 minutes Thai massage is a treatment based on the impact on the main energy circuits (also called Sen vessels) that run throughout the body to help regulate imbalance, from which circulatory and respiratory problems, fatigue, allergy problems are all improved

2 Shiatsu body massage Time: 95 minutes

With Shiatsu Massage method - Japanese traditional Shiatsu reflexology massage technique is a therapy to preserve the customers’ beauty in an extremely effectively way

3 Herb Body Massage Time: 95 minutes

A relaxing massage method using warmed herbs applied to the body This method helps to release the body, enhance circulation, create relaxation thanks to the delicate combination of touch and natural scent

4 Relaxing foot massage Time: 60 minutes

1 Couple service Time: 150 minutes VIP rooms with private and romantic space and modern sauna equipment to help the guests relax The services include foot exfoliation, body massage and facials

2 Santal Beautiful Bliss Time: 170 minutes Special Santal Massage includes: 1 self-selected exfoliation; 1 elective facial care; Body skin care with Phyris product

3 The City Indulgence Time: 150 minutes Relaxing facials with Phyris products; Asian-style foot massage; Exfoliating green tea

1 Leave steam Time: 30 minutes Steam leaves is an unique traditional method of Vietnam, often applied in the prevention and treatment of diseases flu, headache, runny nose, sore throat, bronchitis, aches, detoxify the body, reducing stress

2 Spa services for "pregnant mother"

Relaxing body massage with essential oils or herbs Special foot massage for pregnant women

Anti-stretching massage (waist, thigh, chest) for pregnant women Health recovery and postpartum care package

Analysis of operating environment of SANTAL JSC

2.2.1 External environment 2.2.1.1 Macro environment a, Economic environment

After the rough difficulties in 2012, our economy is on a steady growth trend and always higher than the average growth in the period of 2011 - 2017

Diagram 2.1: Vietnam's GDP growth rate from 2013 to 2017

In 2007, economic growth reached 6.81%, exceeding the target of 6.7% set by the National Assembly and reaching the highest growth rate in the past 10 years, according to new figures published by the General Statistics Office In particular, the economy in the last two quarters recorded a growth rate of over 7% For the first time in many years, Vietnam has achieved and exceeded all 13 socio-economic targets in the year Thus, the economy has beenin a stable period, this creates opportunities for businesses in general and SANTAL Joint Stock Company to expand and develop business due to the factors of the business environment are not volatile

Vietnam economy has a stable growth prospect in the next period with the context of variables reflecting improved economic stability, specifically:

Firstly, about inflation rate,in recent years, the inflation rate tends to decrease remarkablely, expected to be lower than 5% in 2018 (lower than the average inflation rate in the period of 2011-2017 of 6 , 5%)

Secondly, about public debt / GDP ratio From 63.6% in 2016, the public debt / GDP ratio in 2017 fell to 62% In addition, in the period of 2011-2015, the average public debt growth reached 18.4%, until 2016, it increased by 15% and in

2017 it was 9%, expected to increase by 11% in 2018 At the same time, budget overspending is declining, recurrent expenditure on budget spending has fallen to 64.9% this year and is expected to be 64% by 2018

Thirdly, about gross domestic product In recent years, GDP rate of our country has continuously increased rapidly In 2013, GDP growth rate was 5.42%; until 2014, itincreased to 5.98% and in 2015, this rate was 6.68%; in 2016, itwas 6.21% and in 2017, it was 6.81%

Fourthly, trade balance improved from trade deficit in 2015 (US $ 3.2 billion), 2016 trade surplus was 2.68 billion USD and it is expected to reach surplus trade balance until 2018

Thus, economic growth is accelerating on a stronger macroeconomic foundation This reflects that many macroeconomic policies are going on the right direction to create a stable environment for businesses to expand business development, including SANTAL Joint Stock Company

Growth to improve investment efficiency

Besides the positive movements of economic indicators such as budget overspending, public debt, trade balance, inflation rate, ertc.The economy has improved in investment efficiency and competition capacity ICOR coefficient in

2017 reached 4.93, lower than the year of 2016 of 5.15 Although the fluctuation situation might be up and down due to many factors, it is clear that the ICOR trend line tends to drop This reflects that the investment efficiency of the economy is gradually improving

Diagram 2.2: ICOR of Vietnam economy in the period of 2011 - 2017

In addition, according to the Global Competitiveness Report of the World Economic Forum (WEF), Vietnam's competitiveness index increased from 4.31 in

2016 to 4.4 in 2017 The competitiveness level of Vietnam's economy increased by

5 grades compared to 2016 and increased by 20 steps compared to 5 years ago

Thus, it can be said that Vietnam's economy in the upcoming time will have good prospects GDP growth rate will tend to increase, stimulating the domestic economy to develop, creating many prospects for business activities of enterprises, promoting SANTAL joint stock company to develop, expand business environment, expand service supply b,Legal - political environment

The system of legal documents related to enterprises is gradually being improved in a positive direction for businesses

The legal system of Vietnam has become more and more complete, there are many progressive laws promulgated and amended, partly creating favorable conditions and open environment for the investors and enterprises to develop

Related authorities has consulted to build legal documents, creating favorable legal corridors, removing unnecessary procedures for businesses

Enterprise Law is a law having special significance for the development of the social economy In 1999, the Law on Enterprises was established and the Law on Enterprise in 2015 was a breakthrough in creating a unified and equal legal corridor, promoting domestic investment as well as attracting foreign investment, creating a different appearance and stature than the previous period However, during the implementation, over the past 10 years, besides the achievements, the old Enterprise Law also revealed many shortcomings which were unable to keep up with the domestic economic development situation as well as the global trend Due to that situation, in November 26 th 2014, the National Assembly passed a new Enterprise Law with 10 Chapters, 213 things, bringing many new positive points, which can be considered a new breakthrough, overcoming many weaknesses during more than 10 years of implementing the Law on Enterprises and the old investment law before,creating an orientation basis for the enterprises to establish and developing, helping businesses in general and SANTAL Joint Stock Company in particular feel secure to expand business in a well-ventilated operating environment

The legal system also has many overlaps

Although in the past few years, the Government of Vietnam has formed a working group to review all legal documents, eliminate conflicts, the overlapsamong the legal policy systems However, when giving general assessment about the legal environment of Vietnam, many experts and businesses think that it isstill insufficient, weak and confusing, unpredictable Some administrative procedures are still complicated and time-consuming for the enterprises Information technology application in administrative reform has not been promoted Administrative reforms in localities are uneven This makes it difficult for the businesses with many branches to implement large-scale programs in many provinces As a result, investment activities to expand business, establish more branches of enterprises in general and SANTAL Joint Stock Company in particular has been facing many challenges due to difficulties in investment policies of the State

Besides, administrative procedures on tax and customs are still limited The level of improvement of administrative procedures on taxes and customs is not good, the attitude and sense of responsibility and capacity of public officials State officials and employees in the implementation of legal regulations, policies and administrative procedures are still not high and slow to change This affects the business performance of enterprises with import activities, including SALTAN Joint Stock Company in importing products for customer needs c,Cultural-social environment

According to the survey results, Vietnam is in the period of "golden population structure", the period that the working age groups is twice as high as the population in the dependent age group Compared to 2009, the proportion of the population under 15 years old decreased from 33% to 25% in 2017 Meanwhile, the proportion of the population aged from 15 - 59 increased from 58% to 66% in 2017

Population group from 60 increased from 8% to 9% In addition, on average each year, the population of our country has increased by nearly 1 million people The average annual population growth rate is 1.2% per year

Swot matrix analysis

2.3.1 Summary of strengths, weaknesses, opportunities and challenges of SANTAL Joint Stock Company

The staff, medical doctors and specialists at SANTAL JSC are experienced in working, enthusiastic in their work and arranged suitable with each individual's expertise and expectations

After the establishment, SANTAL Joint Stock Company has come into stable operation with prestige in the market, the Company's financial situation is healthy and trusted by many customers and partners The company has the ability to repay loans

Modern facilities and advanced equipment are invested in synchronous, technology software is transferred from developed countries with the latest generation of technology to ensure the services provided to customers are of high quality

The company pays special attention to activities of training and fostering human resources Every year, the company cites funding sources used for training activities suitable to the size of the Company

The financial potential of SANTAL JSC is weak, business performance is decreasing The company invests to develop synchronously on all 3 services but in fact, it has just developed in the field of Spa About high-tech surgery and technology, the company does not have many customers knowing about

The staff of SANTAL Joint Stock Company still lacks in quantity, most of the officials are of low-level and only have a practicing certificate without being advanced trained The number of untrained employees still exists

Research and development activities of the company are still weak, the company does not have a specialized department to implement research and development activities, making the company's production and business activities passive, mainly dependent on other companies in the same field

The level of application technology in the field of business of the Company is still limited As a result, the implemented services are not really diversified Non- surgical beauty products and services have not been provided

Policies for employees at SANTAL JSC are still limite with low salary and bonus, training activities have not been effective

The political and legal environment is getting better and better, the laws governing the operation of enterprises are issued in detail to create a basis for the orientation of enterprises' activities

The economic growth rate has increased, the prospects of economic development are stable and sustainable, people's incomes are increasingly improved, life has gradually improved => many people can afford to pay for salon

In the coming time, not only women need to go to beauty but also men are gradually thinking more about beauty and they also pay more attention to themselves For men, in the near future, the Compant can develop services such as hair removal, abdominal liposuction, rhinoplasty, melasma treatment, freckle treatment, etc

Technology in the field of beauty is growing, contributing to bring high efficiency in the aesthetic industry

In the coming time, there will be many businesses want to join the industry because this aesthetic industry brings high profits

The competitiveness of enterprises in the industry is increasingly fierce

The legal and policy environment in our country is both lacking, weak and confusing.Complicated and troublesome administrative procedures make it difficult for the enterprises to operate

That the technology changes constantly requires businesses to increase technology investment capital This poses a challenge to the financial potential of businesses in the beauty sector

Based on the analysis of strengths, weaknesses, opportunities and challenges in the production and business activities of SANTAL JSC mentioned above, the author synthesizes the SWOT matrix of the Company as follows:

O1:Beauty needs increase in the future O2The ability to pay for beauty services is increasing

O3:Increasing the number of male customers

O4:Technology in the field of aesthetics and beauty is more and more modern

O5: Policy environment is getting better and better

T1: Many businesses want to join the industry

T2: The competitiveness of enterprises in the industry is high T3: Technology changes quickly T4: Many policies overlap, administrative procedures are complicated

S1: The financial situation is healthy, the company has reputable for customers and partners

S2:Experienced human resources S3:Modern and advanced facilities S4: Training activities are focused

S1S2S3S4+ O1O2O3: Develop beauty services to meet the growing needs of customers.Plan to diversify products

S1S2+O3O1: Promote brand promotion activities to attract male customers in the future

S2S3S4+ O4 Importing modern aesthetic technologies to bring high efficiency in treatment.Product development plan

S1+T1T2T3: Take advantage of the prestige and brand to expand distribution channels of products and services to improve competitiveness with businesses in the industry and potential competitors.Plan to expand distribution and market development

S2S3+T1T2: Promote discount policies to compete with rivals

W1Products and services are not diversified Not yet developed the

W1+O1O2O3Take advantage of the increasing beauty needs of customers to thrive in surgical and therapeutic technology.New

W1+ T1T2 Development of cosmetic surgery and high-tech therapy to compete with other businesses Product development aesthetic and high- tech surgery segment

W4Policies for workers are limited

W5: Poor research and development activities product development plan

W2+O1O3:Training and recruiting more human resources to expand the distribution channels to develop the market.Expanded distribution plan plan

Marketing planning development

Based on the synthesis results, SWOT matrix analysis in the above section, the author proposed marketing plan options as follows:

The plan for product diversification and development is the way that enterprises invest in expanding products, markets or investing in developing new products Currently, SANTAL JSC has focused on developing the Spa field, the field of cosmetic surgery and high-tech therapy has not been developed Therefore, in the coming time, the Company needs to develop development plans, diversify products of high-tech therapy and cosmetic surgery fields, specifically as follows:

- Field of high-tech therapy: treating melasma, freckles treatment, acne treatment, tattoo removal, melaleuca removal, permanent hair removal, pore reduction, acne treatment, skin rejuvenation,

- The field of cosmetic surgery: breast augmentation, rhinoplasty, liposuction, eyelid removal, eyebrow lifting, chin implant, dimple, cheekbones, hair transplant, armpit treatment, etc

In addition, the company should consider improving the quality of services provided to customers through training and retraining of human resources, especially medical staffs, doctors and nurses

When delivering products to customers, the company needs to clearly identify customer needs and build their trust Tell customers what benefits they will receive from spa products or services

- Guiding customers for self-service spa care at home if required

- On the website there is a part for customers to comment on products and services of the Company A good customer comment on the SANTAL product website can convince potential customers to use the company's products

In the coming period, along with improving and strengthening management, the improvement of price policy is also an important factor to promote businesses to operate more efficiently Recently, SANTAL Joint Stock Company has applied a competitive pricing policy to each customers, especially incentives for familiar and long-time customers of the business to motivate them have greater loyalty to the beauty services of the business However, discount programs have not been implemented yet Therefore, the Company needs to develop price plans as follows:

- Discount for customers with large value bills

- Discount by service package, by voucher with gifts included

In addition, the company will change prices according to input materials costs and competitors to create the most reasonable price for customers but still ensure high price competitiveness compared to Spa centers, large beauty centers in the same area

The pricing of SANTAL products should be based on the following criteria:

- To cover other expenses in the company such as staff salaries, utilities, telephone

To create a reputable, reliable beauty care site, a reasonable price in a new time to attract customers is a technique that the company is applying Since then the company decided to use price strategy according to the real value of the product

After nearly 10 years of development, SANTAL JSC has only 1 office at 11th Floor, Hilton Garden Hotel, No 20 Phan Chu Trinh, Phan Chu Trinh Ward, Hoan Kiem District, Hanoi With current prestige and quality of the Company's beauty products and services, SANTAL can research to open 1 to 2 more businesses in the inner districts such as Cau Giay, Dong Da and My Dinh areas where people's living standards are very high, creating convenient in appoaching customers or the company can use an additional distribution channel on Sendo and Shopee systems

With the vision to become a beauty company with branches in all provinces in the country, the plan to expand distribution channels is a plan in line with SANTAL's development goals in the future This is a plan to increase market coverage with products and services that have been implemented and do not require significant additional cost However, this plan entails a relatively large financial need to build and expand the distribution network across new regions or market segments This poses for the Company new requirements in capital mobilization

The goal of the company is to increase service sales, promote brand name and create favorable conditions for customers to access products and services The goal of the company is to increase service sales, promote branding and create favorable conditions for customers to access products and services Therefore in marketing strategy

Advertising is a good means of selling With the advancement of science and technology, the production of goods increasingly rich, the needs of consumers increasingly diverse, the advertising increasingly plays a huge role on the production and business aspects Thanks to advertising that products sell more, faster Through advertising the company will understand the needs and reactions of the market, advertising is a positive means to support competition

SANTAL should focus on using letter headers, envelopes, labels, bills for advertising purposes Advertise on the website of VSAPS and SANTAL JSC;

Advertise in beauty magazines, women's magazines;

Besides, the company also needs to implement additional promotional programs and services on the main products and services such as giving dental floss for dental services; Giving face mask with skin care service

Implement sales in the direction of direct marketing: conducting product introduction through the network, the company will draft the contents of the Company's beauty products and send to potential customers such as: office workers; customers in fashion stores, etc.

SOLUTIONS FOR IMPLEMENTING THE MARKETING PLAN OF

Mission, perspective, marketing objectives of SANTAL Joint Stock

- Meeting the beauty needs of domestic customers in general and in Hanoi in particular, making customers feel satisfied with the services of the Company

- Build, develop and honor the SANTAL brand into a strong and prestigious brand throughout the country

- Constantly building a professional working environment, rich in humanity, showing typical characteristics of whole Company; creating opportunities for professional development and career development to all members

- Participating actively in community-oriented social activities, demonstrating the spirit of mutual support and civic responsibility for the country

- Quality prestige and efficiency: Prioritize quality, always keep prestigious in all commitments with customers and partners; take work efficiency as the measurement

- Providing value chain of beautiful and high quality beauty services, bringing perfect beauty to customers

- Be active, dynamism and creative: Always be active in all jobs, reacflexibly, dynamically and always be creative in every situation, every challenge, difficulty to achieve the final committed goals

- Be responsible - friendly - sustainable: Keeping the responsibility to the end, always creating friendly and human culture relations, building sustainable relationships on the basis of mutual benefits

- Revenue and profit increased steadily about 11% to 15%

- The number of familiar and loyal customers increased

- Recruit and successfully train employees in the field of cosmetic surgery, spa, high-tech therapy, marketing

- Expanding from 1 to 2 establishments in Hanoi area, proceeding to expand more branches nationwide, all major provinces and cities have

- Negotiate with all suppliers to get a variety of products with the cheapest prices, the best service

- Good competition and dominate the market share of competitors Market share increased by 5% - 8% / year

- Profit from plastic surgery services increases by 1.5% - 2% / year

- Profit from high-tech therapy services increased by 0.7% - 1.3% / year

- Profits from spa services increase by 6% - 7% / year

- Advertisements on television 2-3 times a year

- Promotions, discounts to attract customers 5-10 times

- Number of leaflets per year is 4500-5000 sheets

- The number of participating customers using the company's services increases by 5% - 10%

- Recruit and train about 3-5 marketing staffs, 2 surgeons, 3-4 nursing nurses

- Main customers of SANTAL include many different objects with different demands from 20-40 years and older with skin care needs

- Target customers are business people, office staffs Occupation: Working in companies, offices or owners of shops like restaurants

- Living in the districts in Hanoi city

- Income: from 8 million / month or more

- Psychology of customers about beauty: always want to be nice when going out, like to have a really beautiful skin, smooth screen, no wrinkles and slim body

- Their standards set out for Spas per their needs for skin care are: seeing the effectiveness immediately after the care week such as smooth skin with reduction of darkening, melasma After taking care many times, the skin must be beautiful and smooth.

Marketing mix programs

Source: Pham Thi Thuy Nga (2007)

Product policy is the foundation of mixed marketing policy, determined based on a larger-scale business plan for new products and overall marketing strategy for all existing products of the business When considering product policies, enterprises need to consider the following issues: Product quality, product design, product features, brand and product brand, packaging, service with products

Mission of the distribution channel is to bring the product to the right place, at the right time and in the right quantity The basic content of the distribution policy is to design and manage the sales network when the product is sold to the market

The sales network is a collection of channels with the participation of different entities with different strengths and reputations to successfully bring goods from manufacturing enterprises to customers Managing new sales channels of the enterprises must meet the following basic requirements:

- Consistent with the nature of the product

- Creating the most favorable conditions for customers to access and find products easily

- Review the distribution channel of competitors

- Distribution channels need to ensure increasing sales of the company and establish sustainable relationships with intermediaries

Price is always one of the leading competitive factors, especially in markets where population income is still low Along with product programs, enterprises must have appropriate price policies to create a firm foothold in the market

In the price policy for new products, businesses can pursue basic objectives such as: to survive (higher cost prices), to maximize immediate profits; to increase market share, to recover fast capital or some other competitive goals

These marketing activities include advertising, catalogs, public relations and retail, specifically advertising on television, radio, newspapers, tables announcing, bringing products into movies, talents support for television programs and massively watched radio channels, sponsorship for loyalty programs, telemarketing, direct mail sales, product introduction At home, sending catalogs to customers, public relations and especially now businesses often use paid advertising services on Google and Facebook These forms help brand and reputation as well as products / services spread farther and more widely known

1.4 Process of developing marketing plan