Untitled HOCHIMINH CITY UNIVERSITY OF FOREIGN LANGUAGES AND INFORMATION TECHNOLOGY DEPARTMENT OF INTERNATIONAL BUSINESS ADMINISTRATION *** FINAL REPORT MARKETING Student’s name 1 Vũ Thị An ID 22DH1200[.]
HOCHIMINH CITY UNIVERSITY OF FOREIGN LANGUAGES AND INFORMATION TECHNOLOGY DEPARTMENT OF INTERNATIONAL BUSINESS ADMINISTRATION -*** FINAL REPORT MARKETING Student’s name : Vũ Thị An ID: 22DH120035 Student’s name : Ngô Thị Gia An ID: 22DH120013 Student’s name : Lê Huỳnh Dân An ID : 22DH120009 Class: KQ2207 Course:221141012214 Instructor: Ngơ Văn Bình 0 Tieu luan HCMC, 12th / 2022 CONTENTS Chapter 1: ABSTRACT……………………………………………… Chapter 2: INTRODUCTION…………………………………………3 2.1 Marketing Overview…………………………………………………3 Chapter 3: LITERATURE REVIEW…………………………………4 3.1 History of Training & Development…………………………………4 3.2 How to Create a Successful Marketing Strategy (Marketing Concept) ……………………………………………………………………………6 3.3 Determine the rationale for the organization's marketing strategy… 3.4 Building blocks for a marketing strategy…………………………… 3.4.1 Intended market…………………………… ……….…… 3.4.2 Operational targets ………………………………………….7 3.4.3 Localize………………………………….……….………….7 3.4.4 Programs………………….….….………………………… 3.5 What is the difference between undifferentiated marketing and differentiated marketing? 3.5.1 What does a differentiated marketing strategy mean? 3.5.1.1 Advantages………………….…….….….…………8 3.5.1.2 Defect………………………………………………9 3.5.2 What is a marketing strategy without distinction? 3.5.2.1 Advantages…………………………………………9 3.5.2.2 Limit……………………………………………… 3.6 Content marketing and digital marketing solutions to help companies take leadership…………………………………………………………………10 3.7 4PS marketing mix……………………………………………………11 Chapter 4: RESEARCH Chapter 5: FINDINGS………………………………………………… 12 Chapter 6: CONCLUSION………………………………………… …13 0 Tieu luan REFERENCES………………………………………………………… 14 CHAPTER 1: ABSTRACT Wherever we go, we see many kinds of marketing that appeal to the curiosity of users, which is also why our team chose marketing Marketing brings a lot of excitement to everybody, it's easy to see the form of street marketing, luxury, and classy stores Marketing connects people through consumerfocused corporate advertising is the process of creating values and close relationships and the process of obtaining value and profit for the company The following is a more detailed discussion of marketing Marketing plays a key and important role in determining the level of brand recognition, success and growth of the enterprise 0 Tieu luan CHAPTER 2: INTRODUCTION 2.1 general introduction to marketing Up to now, our lives cannot be without products and services Every day, thousands of millions of new products and services are introduced to the market every day To have a product is to have marketing related to these two things, It goes hand in hand Therefore, every business needs a professional Marketing team to bring their products to customers without being left behind Marketing is the process of optimizing and understanding and understanding the needs, requirements, and desires of customers is a marketing activity to identify customers and products, and the price of the product Marking is a vast field that includes many categories such as marketing, communications strategy, brand development, design, pricing, market research, customer psychology, customer positioning, and measurement effectiveness Although it has many types and covers, its main element is to understand the interests and desires of customers to convince customers to buy products or services Is a premise for long-term development in the future Marketing is to appear anywhere and appear in all stages, from product formation and development to distribution, to sales, to product promotion Modern marketing was formed in the 1950s when people used more media channels to reach customers Diversified changes along with the constantly increasing development of businesses in both quantity and encroachment The form of operation requires the enterprise to position itself in the business market segment Therefore, every business needs a marketing team to promote its brand widely, reach customers, and compete directly with competitors in the market, which is also the reason that marketing is always ranked first and the top industries that attract the most human resources today 0 Tieu luan CHAPTER 3: LITERATURE REVIEW 3.1 History of formation and development The exchange was created and evolved at the same time as commodity production Consumption of all products is crucial for all businesses because the goal of commodity creation is profit There are numerous paradoxical relationships in the exchange process, including two fundamental conflicts: - Disagreement between buyers and sellers: In order to make more money, sellers constantly seek to sell a large volume of items at high prices; in contrast, buyers seek to purchase at low costs in order to so in large quantities - The rivalry between sellers: Each seller seeks to acquire clients' support, triumph, and occupy lucrative marketplaces These two disagreements are real and connected to consumption The effects of these two conflicts make it challenging to consume commodities Businesses offer a variety of ways to increase sales in order to survive and grow, including: - Letting customers swap goods if they are unsatisfied; Respecting customers; Finding out the wants and needs of customers - Include a random item in the package to pique clients' interests Keep track of and record how many things are being sold Conflicts between the seller and the buyer and the seller and the seller are settled by the aforementioned solutions That is the endeavor we now refer to as marketing The term "marketing" was first used in English in 1902 at Michigan General University in the US Development of Marketing Traditional Marketing - before 1945, starting at the turn of the 20th century Due to the market's significance to the business process, businesses must now discover ways to sell their products rapidly by concentrating first on production and 0 Tieu luan then lowering expenses series That serves as both the scientific foundation and the origin of marketing actions These days, marketing is referred to as passive marketing or traditional marketing Market characteristics during this time period: - The market is dominated by the seller, the production is not developed, the market's scope is limited, and there are few providers - According to the marketer, if a product is both nice and affordable, people will choose it - The sole purpose of marketing activities is to identify a market for consumers of the available goods or services - Selling what the manufacturer intends to make the seller as much money as possible is the sales philosophy With the intention of selling already-on-hand items, traditional marketing was created Therefore, firms concentrate on selling, or "selling what we have," by using sophisticated sales techniques in order to sell a lot of products and make the most money possible maximum financial gain for the seller Modern marketing - From 1945 to the present After World War II, the economies of the nations quickly recovered and flourished as a result of the application of cutting-edge and contemporary scientific and technological advancements in production, which resulted in a continuous rise in the labor productivity of society Market characteristics following the Second World War: - High economic growth and strong competition Modern production equipment, an increase in new enterprises, and fluctuating product prices are all signs of the ongoing crisis - Rapid advancements in science and technology have led to several new discoveries and the use of cutting-edge production methods - The role of the consumer is growing, and the consumer starts making decisions about items quickly because human wants are becoming more varied and complex.The aforementioned effects have led organizations to develop new strategies for acting responsibly and quickly in response to the market As a result, modern marketing was created 0 Tieu luan Compared to "Traditional Marketing," "Modern Marketing" has been enlarged and made more inclusive The wants of consumers are the focus of production in modern marketing, which places a high value on the market where consumers have a deciding influence 3.2 Effective marketing strategy A marketing strategy is a comprehensive marketing plan that aids businesses in reaching more people and converting them into customers who use the products and services of the company Step 1: Customer research, opponent and review the status of communication Step 2: Select the objectives, communication strategies, and audience Step 3: Create ideas Step 4: Create a detailed plan Step 5: Stick to the strategy Step 6: Effectively measure, monitor, and adjust 3.3 Purpose of Marketing Strategy Provide clients with information Customers can now get closer to the company's goods and services thanks to marketing They will be aware of the product's details, applications, and advantages They can weigh this information and swiftly decide what to buy Considering both competitive advantages The most affordable modern marketing strategies are email, social networking sites, etc As a result, small and medium-sized businesses can make significant financial savings, giving them a competitive advantage over larger companies in the market Help maintain relationships with customers One of the most crucial functions of marketing is establishing and sustaining relationships with clients Because of marketing, the brand has a greater hold on consumers' hearts, earning their loyalty and trust while maintaining enduring ties with current clients Continue engaging with customers Engage with customers in ways other than just grinning, chatting with them in stores, and pitching products Businesses can increase the range of connections anytime, anyplace thanks to marketing, and from there, develop relationships with customers 0 Tieu luan Even if clients not directly locate you, you can nevertheless send information and product offers Help sell, make profits The main goal of marketing is to influence consumer purchasing decisions so that firms can turn a profit Making clients aware of your existence will encourage them to consider and accept your offers to purchase your goods Promote business expansion Businesses are investing more money than ever in marketing because keeping relationships with existing consumers while bringing in new customer groups enables commercial business activities to expand 3.4 Composition of a marketing strategy 3.4.1 Target market A customer group to which firms direct their marketing efforts and products is known as the target market Clearly, the target market determines the success of a marketing campaign The success of a product or service on the market is mostly determined by four key factors: products, prices, marketing, and distribution 3.4.2 Business goals Business goals are objectives that the company sets for itself and that it can forecast how it will perform over time To ensure a steady profit for the firm, these objectives can be defined for all enterprises as well as for each department, employee, or client * Steps to establish business goals: Looking back at the earlier objectives you ever set Research of emerging business trends Choose your new objectives Creating and growing the relationships that are required in line with your objectives Generalize 3.4.3 Marketing positioning Positioning entails choosing a position in thought, being aware of the targets that the product (or service, company, team, that person or individual) is aiming at, and attempting to place it in that position as soon as possible It is believed that 0 Tieu luan everything is placed on the steps in the most orderly, second order in human thoughts and perceptions Positioning strategy: Strategy 1: Defend your stance on consumer ideology Strategy 2: In search of a place in the perception of clients who have not occupied and owned it Strategy 3: Positioning or dismissing rivals Strategy 4: Specialized Club 3.4.4 Marketing programs Lucky draw program Discounts up to products in the store Buy get free Promotional price promotion Discount orders by percentage Discount according to the amount Retail price 3.5 How is undifferentiated marketing different from differentiated marketing? 3.5.1 What is a separate marketing strategy? A differentiated marketing strategy is a focused marketing approach Specifically, marketing activities target a wide range of different market segments In each segment, marketing professionals will develop a separate marketing strategy This strategy is aimed at businesses that view their products and services as potentially beneficial to several target markets Differentiated marketing strategies are often applied when companies want to specialize in products and markets, concentrating solely on a specific niche Example of a fashion brand that uses for distinguishing marketing to attract more than one set of customers None of the arrows made contact with several targets This brand has registered and identified groups of customers who care and shop for their products, including: clerical employees, students and children, and launched unique offers for them Each customer group below *Advantages 0 Tieu luan With the development of many types of products, a differentiated marketing strategy helps businesses develop more diverse products From there, meet the needs of customers In addition, helping businesses can penetrate deeper into different market segments All wrapped up in the following bullet points: Best meet the needs of customers Reach more potential customers Increase revenue Improve competitive advantage in the market Businesses easily adapt to unexpected changes *Defect The main disadvantage of a differentiated marketing strategy is the higher cost of producing different products or marketing with different messages for each segment Western publishers point out that larger companies are more equipped to use differentiation because they are more likely to have enough volume per market to cover costs On the other hand, smaller companies often not have the budget to successfully use differentiated marketing strategies and must instead rely on undifferentiated marketing strategies 3.5.2 What is a marketing strategy without distinction? A strategy that organizations use when segmentation marketing is no longer helpful The strategy here is to concentrate on special characteristics rather than differentiators, companies often use Marketing Mix to attract the largest group of buyers possible The example "Marketing", by William M Pride and OC Ferrell, gives elements that indicate sugar and salt as examples of products that can be marketed efficiently through an undifferentiated strategy, as many consumers in the general market have similar needs for the product *Advantages The greatest benefit of undifferentiated marketing is the reduction of costs by exploiting the benefits of scale and distribution of a limited and homogeneous product range *Limit 10 0 Tieu luan Companies will have difficulty managing risks in times of change In parallel, the market with many companies applying the same style of undifferentiated marketing will make the competition more fierce Companies will have difficulty managing risks in times of change 3.6 Content marketing and digital marketing solutions to help businesses lead the industry Content marketing Before that content marketing was not popular and many people really understood it Content is a lever to promote the development of businesses in business activities especially helping customers and businesses understand each other better, the relationship becomes close In addition, the content helps businesses capture the needs and goals that the customer group is interested in specifically It also attracts attention, and the attraction promotes products to spread more customers know more, and love the products and services of the business more Making customers remember longer is always the first priority when needed Content marketing through various forms of content such as (videos, photos, blogs, and advertisements) using multiple social media channels where customers can seek information and knowledge before planning to buy a product Content marketing evokes customers' curiosity, interest, meaning, product value, and what the product can for them * Leading content marketing solution.Content marketing in many forms: + Content marketing video: Video content marketing: This seems to be the type of content marketing that makes it easiest for customers to understand and access, and also the most successful It seems to be the actual commitment from the business to the customer It is also the best and most interesting type that leads to whether or not the customer should buy the product + Image content marketing: This type is popular and has been around for a long time, but its effectiveness is still great Image content marketing is easier to attract and lead to purchase action than video 11 0 Tieu luan + Content writer, content marketing: content marketers use creative and unique language to write about products This is also a new form of content that attracts the attention of a large number of consumers + Content marketing communication: the creation of quality types of image or video content goes viral, and this form begins to spread rapidly Impressive content, and catchy highlights that are easy to remember to lead to easy advertising and marketing This form is like a domino effect Digital marketing In general, it promotes and exchanges information, brands, businesses, and customers via electronic platforms Helping businesses proactively and flexibly approach each customer, track each indicator, report, and thoroughly understand customer needs Build transparency, viral goals, and clear product effects for businesses Digital marketing is the strength of many businesses, it gives businesses and customers many outstanding advantages The benefit of digital marketing is the convenience it attaches to corporate customers, operating businesses, and customers looking for products without regard to time and space Second, the cost is lower than that of customers, traditional The third is that it helps businesses approach a broader, broader, and deeper approach more quickly Next is building relationships with customers, building relationships with customers helps businesses absorb and collect more customer feedback Digital Marketing is defined as using a variety of digital tactics and channels to connect with customers where they spend a lot of time: online From the main website to a business's online brand equity, digital advertising, email marketing, online brochures, and more there are many tactics that fall under the “affiliate” category of “digital marketing” There are many types of digital marketing such as SEO, Content Marketing, Social Media Marketing, Pay Per Click (PPC), Affiliate Marketing, Native Advertising, Marketing Automation, Email Marketing, Online PR, and Inbound Marketing The key to an effective digital marketing campaign is setting goals for each campaign Because having set goals, businesses are motivated to try, perform and know how they have achieved Next, businesses must choose which platform is suitable, With the right platform digital marketing 12 0 Tieu luan campaign, you need to understand the needs and preferences of your potential customers Each platform will be suitable for different customers 3.7 4PS marketing mix A product or service that a company offers to its customers, especially when it meets an existing consumer need Either the product or service is so compelling that consumers believe they need it, or rather the product creates a new need Price is the cost consumers pay for a certain product or service In it, marketers need to link price to the actual and perceived value of the product based on production costs, supply market share, discounts, and competitive prices Place is determining which location is the most suitable and convenient place to supply products to the market is extremely important The goal of the business now is to bring its products to the consumers most likely to buy them Promotion the final component of the 4Ps in Marketing includes advertising, public relations, and promotional strategy The goal of promotion is to reveal to consumers why they need it and why they should pay for it CHAPTER 5: FINDING Chart Title 1200000 1000000 800000 600000 400000 200000 Coca-Cola Avon Walmart DisneySamsung mobile Intel Bud light Visa Series To attract customers and increase brand awareness, Coca-Cola has developed powerful marketing strategies and advertising campaigns To attract customers and raise brand awareness, Coca-Cola developed marketing strategies and implemented highly effective 13 0 Tieu luan advertising campaigns One of the successful campaigns of Coca-Cola in the world as well as in Vietnam is the "Share a Coke" campaign The Share a Coke campaign personalized each client, giving them ownership and creativity to give them the impression of being the true owner of the product Coca-Cola targets youth, connects and unleashes their full potential through social media The main tagline of the campaign: “Share a Coke”, is a clear call-to-action phrase It encourages customers to buy and share a bottle of Coca with their loved ones, and share their stories about the product on social media Coca-Cola's marketing strategy still deserves to be learned, analysed and learned With a bit of luck, with this article, you can better understand Coca-Cola's marketing strategy and refer to it for application to your company's marketing strategies CHAPTER 6: CONCLUSION The essence of corporate marketing is to emphasize identity and satisfaction customer needs through the exchange process Identify [ CITATION htt \l 1033 ][ CITATION Etz \l 1033 ] customer requirements, build as well Develop and execute marketing strategies and programs to meet these needs Marketing managers need a lot of information about customers, competitors and other information other on the market Every business needs to further develop its marketing strategy in today's ferociously competitive market A company wants to be successful in business, it needs to rely on many factors, and an effective marketing strategy is one of the company's essential factors Each company needs to further develop its marketing strategy in today's fiercely competitive marketplace 14 0 Tieu luan REFERENCES Etzel, Michael J., Bruce J Walker, and William J Stanton Marketing McGraw-Hill/Irwin, 2001 pp Tran, Gina A., Atefeh Yazdanparast, and David Strutton "Investigating the marketing impact of consumers’ connectedness to celebrity endorsers." Psychology & Marketing 36.10 (2019): 923-935 Tran, G A., Yazdanparast, A., & Strutton, D (2019) Investigating the marketing impact of consumers’ connectedness to celebrity endorsers Psychology & Marketing, 36(10), 923935 Irshad, M., & Ahmad, M S (2019) Impact of Consumers' Online Motivations on the Online Purchase Intentions: Mediating Role of Consumers' Attitudes towards Social Media Marketing Business and Economic Review, 11(3), 89-111 Bukhari, S S (2011) Green Marketing and its impact on consumer behavior European Journal of Business and Management, 3(4), 375-383 Chiang, I., & Hsieh, C H (2011) Exploring the impacts of blog marketing on consumers Social Behavior and Personality: an international journal, 39(9), 1245-1250 (2022, 09 07) https://glints.com/vn/blog/chien-luoc-marketing-phan-biet-differentiatedmarketing-la-gi/#.Y5f8XnbP2Uk https://trangkienthuc.net/10-bai-hoc-dat-gia-ma-toi-rut-ra-duoc-tu-cuon-marketing-gioiphai-kiem-duoc-tien/ 15 0 Tieu luan Etzel, Michael J., Bruce J Walker, and William J Stanton Marketing McGraw-Hill/Irwin, 2001 https://nhanh.vn/7-chuong-trinh-khuyen-mai-hay-nhat-trong-marketing-n84012.html? https://vndoc.com/lich-su-hinh-thanh-va-phat-trien-cua-marketing-230046?fbclid https://www.dankinhte.vn/dinh-vi-la-gi-cac-chien-luoc-dinh-vi-trong-marketing/? https://hapodigital.com/digital-marketing-la-gi/ https://skillking.fpt.edu.vn/tin-tuc/digital-marketing/ (https://fiexmarketing.com/marketing/marketing-la-gi/ 16 0 Tieu luan ... That is the endeavor we now refer to as marketing The term "marketing" was first used in English in 1902 at Michigan General University in the US Development of Marketing Traditional Marketing. .. deciding influence 3.2 Effective marketing strategy A marketing strategy is a comprehensive marketing plan that aids businesses in reaching more people and converting them into customers who use the. .. marketing such as SEO, Content Marketing, Social Media Marketing, Pay Per Click (PPC), Affiliate Marketing, Native Advertising, Marketing Automation, Email Marketing, Online PR, and Inbound Marketing