Chuyên đề thực tập bachelor of business administration in english (e bba) thesis

NATIONAL ECONOMICS UNIVERSITY BUSINESS SCHOOL FACTORS AFFECTING THE BRAND EQUITY OF HAI HA CONFECTIONERY JOINT STOCK COMPANY Bachelor of Business Administration in English (E-BBA) Thesis Student Class Supervisor : Vu Thi Hoang Ha : E-BBA 8B : PhD Dao Thi Thanh Lam     Hanoi, 2019 ACKNOWLEDGEMENTS First of all, I would like to express my deep gratitude to my supervisor Dr Dao Thi Thanh Lam, who has directly guided and encouraged me from the beginning to the final level of this study Thanks to that, I was able to complete my graduation thesis and gained a lot of valuable knowledge and skills Secondly, I would like to express my sincere thanks to all the lecturers and professors for giving me great inspiration, which made me realize the interesting nature and the imperative of business administration and me, as well as other students of the National Economics University, are extremely grateful for those lessons In addition, I am grately indebted to the School of Business of National Economics University as well as the E-BBA Program for providing me with the best learning environment, where I not only have the knowledge and experience to broaden my horizens, but also have many opportunities to participate in extracurricular activities that improve my life skills Besides, I would like to send my greetings to my beloved E-BBA friends, who have accompanied me for nearly years, always encourage and support me academically and spiritually Finally, I am grateful to my loving parents for supporting me and creating favorable conditions for me during my time at National Economics University and now being here, to complete this thesis Without them, I would not be able to go this far and become who I am today Author, Vu Thi Hoang Ha i TABLE OF CONTENTS ACKNOWLEDGEMENTS i TABLE OF CONTENTS ii ABBREVIATIONS .v LIST OF TABLES .vi LIST OF FIGURES vii EXECUTIVE SUMMARY CHAPTER INTRODUCTION .3 1.1 RESEARCH RATIONALE .3 1.2 RESEARCH OBJECTIVES 1.3 RESEARCH QUESTIONS 1.4 RESEARCH SCOPE 1.5 RESEARCH STRUCTURE .5 CHAPTER THEORETICAL FRAMEWORK OF FACTORS AFFECTING THE BRAND EQUITY OF HAI HA CONFECTIONERY JOINT STOCK COMPANY .6 2.1 OVERVIEW OF BRAND AND BRAND EQUITY .6 2.1.1 Definition of brand .6 2.1.2 Function of brand 2.1.3 Role of brand 2.1.4 Brand equity 2.2 MEASURING FACTORS AFFECTING THE BRAND EQUITY OF HAI HA CONFECTIONERY JOINT STOCK COMPANY 12 2.2.1 Foreign research: 12 2.2.2 Domestic research: .14 2.3 PROPOSED RESEARCH MODEL 16 2.3.1 Brand awareness 18 2.3.2 Brand association .19 2.3.3 Perceived quality 19 2.3.4 Brand loyalty 19 2.4 DIMENSIONS AND CONSTRUCTS TO MEASURE BRAND EQUITY OF HAI HA 20 CHAPTER RESEARCH METHODOLOGY 22 3.1 RESEARCH PROCESS 22 3.2 DATA COLLECTION 22 ii 3.2.1 The secondary data .22 3.2.2 The primary data 23 3.3 DATA ANALYSIS 26 CHAPTER FACTORS AFFECTING THE BRAND EQUITY OF HAI HA CONFECTIONERY JOINT STOCK COMPANY 27 4.1 OVERVIEW OF HAI HA CONFECTIONERY JOINT STOCK COMPANY 27 4.1.1 Development history of the company 27 4.1.2 The organizational structure of the company .28 4.1.3 Vision – mission and the core values of the company .30 4.1.4 Operating areas of the company 31 4.1.5 Strengths and weaknesses of the company 32 4.2 RESPONDENTS PROFILES 34 4.2.1 Gender 34 4.2.2 Age group 35 4.2.3 Income levels 36 4.3 RELIABILITY TESTING AND EXPLANATORY FACTOR ANALYSIS 37 4.3.1 Descriptive analysis for all factors .37 4.3.2 Reliability testing on examined dimensions .39 4.3.3 Explanatory Factor Analysis 44 4.4 ANALYSIS ON FACTORS AFFECTING THE BRAND EQUITY OF HAI HA CONFECTIONERY JOINT STOCK COMPANY 46 4.4.1 Correlation 46 4.4.2 Results of Regression Analysis of influence off independent variables on customer satisfaction 48 4.4.3 Summary of findings 50 4.4.4 Analyze the effects of qualitative definitions in assessment of brand equity 51 4.5 DISCUSS THE RESULTS .55 CHAPTER SOLUTIONS FOR ENHANCING BRAND EQUITY OF HAI HA CONFECTIONERY JOINT STOCK COMPANY 56 5.1 DEVELOPMENT ORIENTATION OF HAI HA CONFECTIONERY JOINT STOCK COMPANY 56 5.1.1 The main objectives of the Company 56 5.1.2 Medium-term and long-term development strategy 57 iii 5.1.3 Objectives for the Company's environment, society and community .57 5.2 SOLUTIONS AND RECOMMENDATIONS FOR HAI HA CONFECTIONERY JOINT STOCK COMPANY TO ENHANCE BRAND EQUITY .57 5.2.1 Establishing a marketing department 57 5.2.2 Refurbishing the company's production headquarters, developing the chain of product displaying shops .58 5.2.3 Promote advertising activities to spread the brand equity for HAIHACO 59 5.2.4 Invest in designing and innovating packaging 60 CONCLUSION 61 REFERENCES 62 APPENDIX IN-DEPTH INTERVIEW QUESTIONS .64 APPENDIX SURVEY QUESTIONS 65 APPENDIX STATISTICS 68 iv ABBREVIATIONS HAIHACO Hai Ha Confectionery Joint Stock Company BE Brand Equity BA Brand Awareness AA Brand Associations PQ Perceived Quality BL Brand Loyalty VND Vietnamese Dong v LIST OF TABLES Table Factors affecting the brand equity in previous researches .16 Table Factors affecting the brand equity in previous researches .20 Table Measurement 25 Table Business situation of Hai Ha Company over a period of years 31 Table Sample distributions by gender .34 Table Sample distributions by gender .35 Table Sample distributions by gender .36 Table Descriptive analysis for all factors 37 Table Reliability Testing statistics 39 Table 10 Cronbach’s Alpha of Brand Awareness variable 40 Table 11 Cronbach’s Alpha of Brand Associations variable 41 Table 12 Cronbach’s Alpha of Perceived Quality variable 42 Table 13 Cronbach’s Alpha of Brand Loyalty variable 43 Table 14 Cronbach’s Alpha of Brand Equity variable .44 Table 15 KMO and Bartlett's Test after EFA .45 Table 16 Rotated Component Matrix 45 Table 17 Total Varience Explained 46 Table 18 Pearson correlation coefficients 47 Table 19 Model Summary 48 Table 20 ANOVA .48 Table 21 Regression coefficient 49 Table 22 Summary of hypothesis testing result 50 Table 23 Test the difference in the assessment of brand equity in gender 52 Table 24 Test the difference in the assessment of brand equity among .53 Table 25 Test the difference in the assessment of brand equity among income levels 54 vi LIST OF FIGURES Figure Brand equity model of Aaker .12 Figure Brand equity model of Keller .13 Figure Brand equity model of Eda Atilgan, Safak Aksoy and Serkan Akinci .14 Figure Brand equity model of Vietnam’s consumer goods market 15 Figure Brand equity model of beverage industry 16 Figure Model of factors affecting the brand equity of Hai Ha Confectionery Joint Stock Company 18 Figure Research process 22 Figure Sample distributions by gender 34 Figure Sample distributions age group 35 Figure 10 Sample distributions by income levels .36 vii EXECUTIVE SUMMARY Today, globalization and integration are becoming the fundamental and indispensable trend that dominate the economic situation of each country Globalization is opening up opportunities and challenges to every country, especially developing countries like Vietnam In order to build a brand that can stand up to such fierce competition, Vietnamese businesses must have a long-term strategy of building, developing, promoting and protecting brands from now on However, branding is still a relatively new problem to most Vietnamese businesses, many of them only focus on producing products without exploiting, even wasting their inherent assets, that is the brand Established in 1960, Hai Ha Confectionery Joint Stock Company (HAIHACO) is one of the leading confectionery manufacturers in Vietnam with more than 1,300 employees and total revenue reached 100,8 billion VND at the end of year 2018 Besides, the company has set clear development goals and orientations One of those goals is to promote branding activities and enhance products’ brand to maintain the position of business in the confectionery market Consequently, this research aims to identify factors affecting the brand equity of HAIHACO through aspects: brand awareness, brand association, perceived quality and brand loyalty By measuring the aforementioned variables, the study will help company devise a long-term strategy to build and develop the brand - this is an effective tool to enhance the competitiveness of Hai Ha Confectionery Joint Stock Company The author collected secondary data via internet and primary data through some in-depth interviews and survey questionnaire The study applied linear regression which is analyzed by SPSS 20 software based on independent variables and from that will find out their influence on the brand equity of Hai Ha Confectionery Joint Stock Company For this purpose, responses were collected from customers directly at the counter of Hai Ha with sample size of 128 individuals, in which survey questions created by the author are the input to analyze the factors affecting the brand equity of Hai Ha Confectionery Joint Stock Company The results revealed that brand awareness is the most influential factor affecting brand equity, followed by perceived quality, brand associations and brand loyalty, respectively However, it does not mean that the company just need to focusing on improving the elements of brand associations and brand loyalty, besides, promoting and maintaining well brand awareness and perceived quality for customers to have a good impression of the brand Finally, the author has proposed some solutions to develop and enhance the brand equity of Hai Ha Confectionery Joint Stock Company such as establishing a marketing department, renewing the production headquarters and the displaying shops of the company, promoting advertising activities to promote the value of HAIHACO brand, improve the packaging