Research And Recommendations About Marketing Comunication Of Securities Companies In Vietnam.pdf

vietnam national university, HANOI school of business Nguyen Xuan Quynh RESEARCH AND RECOMMENDATIONS ABOUT MARKETING COMUNICATION OF SECURITIES COMPANIES IN VIET NAM master of business administration[.]

vietnam national university, HANOI school of business Nguyen Xuan Quynh RESEARCH AND RECOMMENDATIONS ABOUT MARKETING COMUNICATION OF SECURITIES COMPANIES IN VIET NAM master of business administration thesis Hanoi - 2007 vietnam national university, HANOI school of business Nguyen Xuan Quynh RESEARCH AND RECOMMENDATIONS ABOUT MARKETING COMUNICATION OF SECURITIES COMPANIES IN VIET NAM Major: Business Administration Code: 60 34 05 Master of business administration thesis Supervisor: DR Chu Thanh Hanoi - 2007 Nguyen Xuan Quynh ~ Remba Business Hanoi School of TABLE OF CONTENT ACKNOWLEDGEMENTS i ABSTRACT ii TÓM TẮT iv LIST OF FIGURES INTRODUCTION CHAPTER THEORY FOUNDATION ABOUT MARKETING COMMUNICATIONS 11 1.1 General about Marketing Communications 11 1.2 Setting Marketing Communication Strategy for Service Firms 12 1.2.1 Define the Target Audience and Objectives 13 1.2.2 Divide the Communications Objectives and Target Audiences among the Channels 15 1.2.3 Define Communications Messages 16 1.2.4 Put the Communications Mix Together 18 1.3 Marketing Communication Tools 19 1.3.1 Advertising 19 1.3.2 Public Relations 27 1.3.3 Personal Selling 29 1.3.4 Sales Promotion 32 1.3.5 Direct Marketing 34 1.3.6 E-marketing 35 CHAPTER RESEARCH ON MARKETING COMMUNICATIONS OF SECURITIES COMPANIES 39 2.1 Summary about Vietnam securities market and securities companies 39 2.2 Research on communication tools used by securities companies 42 2.1.1 Public relations 43 2.1.2 Advertising 48 2.1.3 Personal Selling 49 MBA Graduation Thesis 2007 Page of 82 Hanoi, Dec Nguyen Xuan Quynh ~ Remba Business Hanoi School of 2.1.4 Sales Promotion 50 2.1.5 Direct Marketing 52 2.1.6 E-Marketing 52 2.3 Survey on efficiency of marketing communication from securities companies and customers behaviour 53 2.3.1 Aims of survey 53 2.3.2 Scope of survey and some limitations 53 2.2.3 Findings 54 CHAPTER RECOMMENDATIONS 66 3.1 Define the target audience and objectives of communication 66 3.1.1 Define the target audience of communication strategy 66 3.1.2 Define the communication objectives 68 3.2 Divide the target audience and objectives of communication among the channels 69 3.3 Define communication messages 70 3.4 Put communication mix together 72 3.4.1 General recommendations 72 3.4.2 Recommendations for particular communication tool 73 CONCLUSION 78 REFERENCES 79 APPENDIX: Questionnaires for Thang Long Securities JSC 80 MBA Graduation Thesis 2007 Page of 82 Hanoi, Dec Nguyen Xuan Quynh ~ Remba Business Hanoi School of LIST OF FIGURES Figure 1-1: The Communication Process 11 Figure 1-2: The tools of the marketing communication mix 12 Figure 1-3: Marketing Communication Strategy for Service Firms 12 Figure 2-1: Percentage of Accounts Opened at Securities Companies 40 Figure 2-2: One article about SSI when it first listed on HASTC 44 Figure 2-3: SSI with the event of being listed on HOSE 44 Figure 2-4: Announcement about the establishment of STB Securities 45 Figure 2-5: VNDirect launches new service 45 Figure 2-6: Bien Viet Securities with CBV-Index 45 Figure 2-7: SSI and its CEO Tran Duy Hung 46 Figure 2-8: CEO of Vndirect – Mrs Pham Minh Huong 46 Figure 2-9: „Chung khoan cuoi tuan” on VTV1 47 Figure 2-10: INFOTV 47 Figure 2-11: Viet Dragon Securities Corp holds training course for customers 48 Figure 2-12: Advertising of Ocean Securities on InfoTV 49 Figure 2-13: Advertising of Thang Long Securities on Investment Review 49 Figure 2-14: Image of brokers 50 Figure 2-15: Promotion of Viet Tin Securities Company 51 Figure 2-16: http://www.bsc.com.vn 52 MBA Graduation Thesis 2007 Page of 82 Hanoi, Dec Nguyen Xuan Quynh ~ Remba Business Hanoi School of INTRODUCTION The Problem Recently, after the booming from the end of 2006 and beginning of 2007, Vietnam stock market has had downward adjustment The investors don‟t rush to the trading floors like they did before Securities companies, especially new-born companies are facing a lot of trouble in attracting customers They really need effective marketing communication tools to communicate more with customers, understand and find the way to attract and maintain them Therefore, this research was conducted to give out recommendations about market communication for securities companies to help them communicate more effectively with customers Objectives and aims Objectives: - Study about marketing communication - Know how securities companies are communicating with customers and the effectiveness of these activities - Know how customers get communication messages from securities companies - Know media tools and other communication tools which are being used by customers to search information about stock market - Give recommendations about marketing communication for securities companies Aims: Help securities companies build up comprehensive marketing strategies Research Questions - Which communication tools are use by securities companies in Vietnam - How effective are these tools? - How customers aware of the communication of securities companies - By which way customers find information about stock market? - Which media platform customers prefer and use most? Scope of work MBA Graduation Thesis 2007 Page of 82 Hanoi, Dec Nguyen Xuan Quynh ~ Remba Business Hanoi School of – Research on the communication with individual customers only, not including institutional investors – Security market in Vietnam in 2005 – 2007 – Survey mainly in Hanoi Data source & Processing – Primary data: questionnaires – Secondary data: newspapers, websites – Processing: to use MS Excel Methods – Empirical – Survey using questionnaires Significance – Theory: understand about marketing communication – Practice: recommendation for securities companies to communicate more effectively with customers Limitation: - Time 2005 – 2007 - Survey mainly in Hanoi - Survey only with individual investors MBA Graduation Thesis 2007 Page 10 of 82 Hanoi, Dec Nguyen Xuan Quynh ~ Remba Business Hanoi School of CHAPTER THEORY FOUNDATION ABOUT MARKETING COMMUNICATIONS 1.1 General about Marketing Communications Communications is the process of conveying a message to others and require six elements: a source, a message, a channel of communication, a receiver and the processes of encoding and decoding The source may be a company or person who has information to convey The information sent by a source, such as a description of a new service, forms the message The message is conveyed by means of a channel of communication such as a sales person, advertising media, or public relations tools Clients who read, hear, or see the message are the receivers Figure 1-1: The Communication Process Source: Managing Service Marketing, John E.G Baterson, K.Douglas Hoffman Marketing communications are all the communications between the organization and all other parties, especially with customers Part of the wider academic research area of marketing, it encompasses all the traditional forms of promotion including advertising, sales promotion, personal selling, publicity, public relations, direct marketing and e-marketing But it aims to be broader than this It includes all points of contact between the organization and other parties The Marketing Communications Mix is the specific mix of advertising, personal selling, sales promotion, public relations, and direct marketing a company uses to pursue its marketing objectives MBA Graduation Thesis 2007 Page 11 of 82 Hanoi, Dec Nguyen Xuan Quynh ~ Remba Business Hanoi School of Figure 1-2: The tools of the marketing communication mix Advertising EMarketing Public Relations Marketing Communication Mix Direct Marketing Sales Promotion Personal Selling 1.2 Setting Marketing Communication Strategy for Service Firms The setting of a communications strategy follows a common pattern in irresponsive of whether the firm is producing a goods or services The first is to define a target audience and clear objectives for the complete communication mix The main elements of the communication mix include advertising, public relations, personal selling, sales promotion and direct marketing Only personal selling is normally a two-way process The remainders are one-way communication, from the marketer to the customer only With services, however, the service providers at the point of communication can also have an important two-way communication role Figure 1-3: Marketing Communication Strategy for Service Firms MBA Graduation Thesis 2007 Page 12 of 82 Hanoi, Dec Nguyen Xuan Quynh ~ Remba Business Hanoi School of ``` Consumer Behavior Marketing Strategy Communication strategy    Target Group(s) Communications objectives Budget E-marketing   Communication strategy Advertising    Objectives Target Group Budget Personal Selling PR    Objectives Target Group Budget    Objectives Target Group Budget  Direct Marketing    Objectives Target Group Budget Sales Promotion    Objectives Target Group Budget Source: Managing Service Marketing, John E.G Baterson, K.Douglas Hoffman 1.2.1 Define the Target Audience and Objectives Defining the target audience MBA Graduation Thesis 2007 Page 13 of 82 Objectives Target Group Budget Hanoi, Dec ... school of business Nguyen Xuan Quynh RESEARCH AND RECOMMENDATIONS ABOUT MARKETING COMUNICATION OF SECURITIES COMPANIES IN VIET NAM Major: Business Administration Code: 60 34 05 Master of business... Business Hanoi School of – Research on the communication with individual customers only, not including institutional investors – Security market in Vietnam in 2005 – 2007 – Survey mainly in Hanoi... Quynh ~ Remba Business Hanoi School of Figure 1-2: The tools of the marketing communication mix Advertising EMarketing Public Relations Marketing Communication Mix Direct Marketing Sales Promotion