MARKETING PLAN ANALYSIS THE CASE OF MOMO e WALLET

MARKETING PLAN ANALYSIS: THE CASE OF MOMO E-WALLET MEMBERS: Nguyễn Đức Trần Minh Trí Dũng Bảo Anh Content Introduction I V Marketing Strategy Environmental Analysis Ii VI BI Implementation SWOT Analysis VII IV Marketing Goals Evaluation and Control I INTRODUCTION Established in 2007 M_service is one of the pioneers in the field of providing mobile payment solutions Momo application allow users to access hundreds of different utilities on its application, promoting the trend of "cashless" The position as the 1st e-wallet in Vietnam with the highest market share at 68%, along with awareness of up to 97% Environmental Analysis AI A Marketing environment Natural environment Urban centers have been directing people to cashless purchases Covid-19 has made it difficult for people to access goods/services in the old way A big turning point for the development, causing the rate of this form of payment to increase for e-wallets Resources Resources of MoMo: Trusted and loved by tens of millions of users and business partners Has more than 1,600 employees with its HQ in HCM City, offices in Hanoi and Da Nang Link with 38 domestic and international banks, providing services to more than 90% of people with bank accounts, has more than 10,000 agents, 30,000 business partners, has about 31 million users with more than 140,000 payment points 2020 - Raise capital with a total charter capital of more than 130 billion VND with 66% foreign ownership 2021 - The completion of the 4th round of funding (Series D) and the 5th round of funding (Series E) Competitive Environment MoMo, Moca, and ZaloPay are the top three most popular e-wallets in Vietnam's two major cities Examine the three brands and demonstrate the rivalry in the e-wallet business Competitive Environment MoMo MoMo e-wallet is an application developed by Service Joint Stock Company On June Year Founded 14, 2014, Online Mobile (abbreviated M_ Service) was released as a mobile app Z ZaloPay is an e-wal platform and online payment system cre in 2016 by ZION Join Stock Company Application Main color: Blue Main color: Magenta > Mixture of red and blue It stands for the ability to balance and stabilize, as well as representing loyalty and is a color for apps that want to be different and strongly identify Main color: Blue and Green > Blue indicates financial security and trust While green means growth, maturity, and a promising future > Means protection and financial security, a sense of dependability, and trust Blue is often chosen to convey stability and evoke trust in customers Type of service MoMo offers services such as money transfers between Momo accounts, withdrawals and deposits, bill payment, ecommerce, personal finance, and so forth MOMO is Vietnam's first e-wallet that allows users to withdraw money from their MoMo account ZaloPay allows customers to pay online for internet services, electricity bills, recharge phones for prepaid subscribers, cable TV If friends use ZaloPay, ZaloPay can identify them in their contacts, making money transfers and transactions with pals faster Moca, which has a strategic alliance with Grab, has swiftly become a major player in the e-wallet competition Moca, with its cleverly designed QR code, enables users to pay at authorized spots such as convenience stores, commercial centers, eating establishments, or to hire a car on Grab The app has over 31 million users, 50,000 corporate partners, Users and Partnerships and millions of transactions are processed through MoMo Wallet every day In 2021, this app will have 6.9 million downloads and 8.17 million users It has collaborated with 269 key partners, including Baemin, Tiki, and Sendo Moca has approximately million customers of Moca mobile payment solutions due to its cooperation with Grab Moca currently has direct connections with 25 commercial banks and one digital bank, allowing it to serve about 92% of ATM card users in Vietnam Transaction fee schedule: Note: The first 30 transactions/month will be free Cash withdrawal fee will be deducted directly from customer's MoMo account Fees include VAT Cash transfer service at MoMo point of transaction: Note: The service only charges the sender, not the receiver If there is no recipient within 30 days from the date of sending, MoMo will return the money to the sender Fees include VAT 5.2.2 Price 5.2.2 Price 5.2.3 Place MoMo service covered all essential family and personal payments: Top up phones/Buy card codes of all carriers Payment of postpaid charges Payment for Consumer Loans Buy flight tickets Buy train tickets Moving in the city MoMo covered in places: Convenience stores Supermarkets Food chains 5.2.3 Place Gen Z and young people have formed a habit of paying by e-wallets -> Have difficulty in eating out at local restaurants without having MoMo service MoMo is able to expand its reach to large, medium and small local eateries to maximize habits and frequency of using MoMo by consumers 5.2.4 Promotion - Integrated Marketing Communications Communication target (WHY): Increase brand awareness, promote changing consumer habits - encouraging people to use online payment when shopping Shaping the target audience's perception of quality and utility for online payments Target audience (WHO) The unskilled laborers with relatively low income who are between the ages of 18-45 Be more interested in the products and services of the business than in other customer groups and have regular transactions Urban customers are the main audience to apply communication tools, mainly digital media Choose effective communication channel (WHERE) Most of the information channels about MoMo from sources : “Word of mouth”, “Public relations” or “Advertising on Television” “Word of mouth” is very important When there is a user and experience, that person will summarize all the information in the most concise way to convey to others At this time, listeners will find it easier to understand and stimulate their need to use Advertising - Outdoor advertising TV advertisement (TVCTelevision Commercials) All the first 30 seconds, the viewership reached very high but dropped significantly at 60 seconds Public relations Cooperate with KOLs, influencers, reputable newspapers posted information about the campaign combining the deployment of indepth content to emphasize the real value MoMo brings to the community 2019 - Momo has deployed PR content to spread information about Mega Cashback 01/11 - encourage, spread the media message, create initiative and anticipation with the target audience Well exploit the insight of customers, especially young p e o pl e (li ke to ex p er ie n ce n e w, VI MARKETING PLAN Implementation MoMo has lately focused more on Millennials and Gen Z customers Millennial users: love a brand who has unique, relevant and useful experience; concerned about security issues Gen Z customers: prefer a brand that is able to represent the value of our country’s culture MoMo has already implemented a number of new services targeting these groups: discounts on fast food, playing games in-app, etc All of this while still pursuing its core value: become a super app that can help with every need in life Marketing plan execution table Marketing plan execution table VII Evaluation and Control: The project report will include an evaluation of financial expenditures following the marketing plan MoMo e-wallet must meet the following performance standards and financial controls: Performance Standards and Financial Controls The mission and vision statements should be compiled from various ideas and perspectives from upper management and the board of directors The marketing plan implementation budget will be 40% of the total promotional budget The following percentages of the funding will be allocated to the defined marketing activities: 50% for plan implementation, 20% for marketing plan amendments, and 30% for follow-up analysis The marketing director is in charge of reporting all marketing plan implementation expenses Team members collaborating with the marketing director will be accountable for bringing the director up to date regularly and reporting all personal and non-personal expenses linked to the marketing plan's implementation Financial Control Need to compare its actual performance with planned goals In order to create favorable conditions, monitoring procedures should be developed for various activities necessary to make marketing plans into reality A project management concept will be used to evaluate the implementation of marketing plans by establishing time requirements, human resource needs, financial spending or budget Regular comparison of practical activities and plans will be conducted monthly after the initial implementation period Each project group is responsible for determining which changes must be conducted in the procedures THANK YOU! Do you have any questions for us before we go? ... customers can be completely assured of *Some of the challenges faced by MoMo e- wallet: 1/ Threat from New Entrants Many competitors have not yet entered the e- wallet market or have entered but are... point of transaction: Note: The service only charges the sender, not the receiver If there is no recipient within 30 days from the date of sending, MoMo will return the money to the sender Fees... more Behavior: They are either the income source for their family or are under the care of their family B Target Markets III SWOT Analysis STRENGTHS WEAKNESSES High awareness Provide Limited