Marketing mix plan for west lakes golf villas project

NATIONAL ECONOMICS UNIVERSITY EXCELLENT EDUCATIONAL PROGRAM BACHELOR THESIS Major: Marketing Management TOPIC: MARKETING MIX PLAN FOR WEST LAKES GOLF & VILLAS PROJECT PHAM NGOC QUYNH Hanoi 2020 NATIONAL ECONOMICS UNIVERSITY EXCELLENT EDUCATIONAL PROGRAM BACHELOR THESIS TOPIC: MARKETING MIX PLAN FOR WEST LAKES GOLF & VILLAS PROJECT Student: Pham Ngoc Quynh Speciality: Marketing Management Class: Marketing Management Intake 58 (Excellent Educational Program) Student’s ID: 11164415 Supervisors: Associate Professor Pham Thi Huyen Hanoi 2020 ACKNOWLEDGEMENTS I would like to send my greatest gratitude and respect to Asc.Prof Pham Thi Huyen for the accomplishment of this research If it hadn’t been for her support and advice, I wouldn’t have found the inspiration to carry out this research I am grateful to Asc.Prof Pham Thi Huyen for her enthusiasm as a teacher and a supervisor I deeply appreciate all the support from BHS Group Real Estate Joint Stock Company, my colleagues, and those participants involved in this research I couldn’t finish this work without their meaningful contributions STATUTORY DECLARATION I affirm that I have written entirely this Bachelor Thesis independently This thesis is an individual work and has no involvement with any other individuals or organization The outside sources are just used to support the theory of this research All of the outside sources and previous research have been cited in the end of this paper There is no copyright infringement in this thesis Hanoi, May 2020 Author TABLE OF CONTENTS ACKNOWLEDGEMENTS STATUTORY DECLARATION TABLE OF CONTENTS LIST OF TABLES EXECUTIVE SUMMARY .1 CHAPTER 1: INTRODUCTION TO THE STUDY .2 1.1 The rationale of the research 1.2 Research.objectives and Research questions 1.2.1 Research objectives 1.2.2 Research questions 1.3 Research methods 1.3.1 Research objects .4 1.3.2 Research issue 1.3.3 Research methodology 1.3.4 Research scopes .4 1.4 The structure of this research CHAPTER INTRODUCTION TO BHS JOINT STOCK COMPANY AND THE WEST LAKES GOLF & VILLAS PROJECT 2.1 Overview of BHS Joint Stock Company (BHS Group) 2.1.1 Preliminary information 2.1.2 Consultant – implementation service package 2.1.2.1 Investment cooperation and project development 2.1.2.2 Packaging product and sales deployment 2.1.2.3 Market research and M&A consultancy 2.1.2.4 Development strategy consulting and marketing implementation 2.1.2.5 Leasing 2.1.3 Target market 2.2 Overview of West Lakes Golf & Villas Project 2.2.1 Preliminary information of the investor C.S.Q Global Investment Joint Stock Company 2.2.2 Principles of C.S.Q Global Investment Joint Stock Company 2.2.2.1 Vision 2.2.2.2 Field of business activities .8 2.2.2.3 Governance model and organizational structure 2.2.2.4 Partner of C.S.Q Global Investment Joint Stock Company 2.2.3 Overview of West Lakes Golf and Villas project 2.2.3.1 Preliminary information 2.2.3.2 Principles information 10 2.2.4 Overview of Ho Chi Minh City’s suburban real estate market .15 CHAPTER 3: CUSTOMER’S NEED RESEARCH NEED AND FACTORS AFFECTING THE WEST LAKES GOLF & VILLAS PROJECT .19 3.1 Customer’s.segmentation 19 3.2 Customer’s need research 19 3.3 Analyze research result .21 3.3.1 Respondents’ information 21 3.3.2 Detail information 21 3.3.3 Factors affecting buying suburban real estate decision measured by points likert scale 22 3.4 Factors affecting the West Lakes Golf & Villas project 26 3.4.1 Macro environment 26 3.4.1.1 Demographic forces .26 3.4.1.2 Economics forces 27 3.4.1.3 Technological forces 27 3.4.1.4 Political.forces .28 3.4.1.5.,Cultural,forces .29 3.4.2 Micro environment .30 3.4.2.1 The Investor 30 3.4.2.2 Development & sales management consulting firm .31 3.4.2.3 Marketing.intermediaries .31 CHAPTER 4: PROPOSING MARKETING MIX PLAN FOR THE WEST LAKES GOLF & VILLAS PROJECT 33 4.1 Case study 33 4.2 Customer persona .35 4.3 Customer’s insight 37 4.4 Unique selling points of the West Lakes Golf & Villas project 38 4.4 SWOT 40 4.5 Product positioning .41 4.6 Proposing marketing mix plan for the West Lakes Golf & Villas project 42 4.6.1 Product 42 4.6.2 Price .44 4.6.2.1 Valuation method 44 4.6.2.2 Paying installments policy .48 4.6.2.3 Sublease policy 49 4.6.3 Place 51 4.6.4 Promotion .51 4.6.4.1 Marketing communication budget 51 4.6.4.2 Marketing timeline implement .52 4.6.4.2 Public Relation 53 4.6.4.3 Digital advertisement .54 LIST OF TABLES Table 2.1: West Lakes Golf & Villas location .10 Table 2.2: Links area .12 Table 2.3: Master plan of West Lakes Golf & Villas 12 Table 4.5: Mini villa design 14 Table 4.6: Isolated villa design 15 Table 4.7: duplex villa design 15 Table 4.1: Industrial zones in the West Lakes Golf & Villas region .34 Table 4.2: The proportion of target customers of 36 the West Lakes Golf & Villas project 36 Table 4.3: Swot analysis 40 Table 4.4: Utility suggestions 43 Table 4.5: Real estate price survey around the area .45 Table 4.6: Real estate price surveys with the golf course concept 45 Table 4.7: Pricing caculation method 47 Table 4.8: Expected price of West Lakes Golf & Villas 48 Table 4.9: Paying installments policy 49 Table 4.10: Marketing timeline implement 52 EXECUTIVE SUMMARY Land disputes, land laws have many changes, the land price framework is raised, the match of condotel commitments are the "hottest" keywords to talk about a turbulent year of Vietnamese real estate We witnessed a series of fluctuations in the past year: many projects in Ho Chi Minh City were "stuck" because of legal issues, land disputes in Thu Thiem and many changes in the Land Law made many owners Difficult investment in project implementation This leads to scarcity of supply, causing housing prices to be pushed up Along with that, the case of Alibaba defrauding customers, or Cocobay Da Nang breaking the commitment of profit are also issues that make investors consider and hesitate when down money According to Dat Lanh real estate company, the scarcity of land in the inner city has caused many businesses and investors to expand to the surrounding areas Meanwhile, the investment in the suburbs will be much easier than in the inner city The problem of depletion of inner city supply and rising housing prices has led many investors to "run out" of Ho Chi Minh City and access to markets with potential price increases such as Dong Nai, Binh Duong, Long An or more distant is Phan Thiet, Binh Dinh If the land plot segment was previously "hot", investors are now paying attention to peri-urban territorial projects with close links with Ho Chi Minh City and infrastructure, society and factors environment, clean landscape become "magnet" attracts many buyers Therefore, it is not difficult to understand why the Long An market has become the focus of real estate investors West Lakes Golf & Villas is the first and only suburban resort villa complex currently located in Duc Hoa District - Long An, only 60 minutes west of Ho Chi Minh City center The suburban villas project developed by BHS Group was identified as a passionate embrace As an intern marketing in BHS Group, the author sees potential in West Lakes Golf & Villas and wants to contribute to the development progress of project Therefore, this research provides a more comprehensive understanding of the West Lakes Golf & Villas and identifies factors affecting to the project The researcher collected data via questionnaries of 50 respondents in Ho Chi Minh City This results indicate that “Product concept”, “Reputation of the Investor”, “Geographic location”, and “Cost” have significant impacts on the West Lakes Golf & Villas project