Marketing Processes and Planning

In this essay, I have been transformed into the position of “marketing executive” in the context of Masan Consumer company to analyze and research an overview of the marketing process, the roles and responsibilities of the marketing department, the influence of marketing. to other departments, the importance of its effectiveness, the macro and micro environment of the business. In the process of transforming into a marketing officer of the company, I have successfully completed the assigned tasks, but due to my limited qualifications, I initially applied theory to practice, so this report is inevitable. shortcomings and limitations in the writing process. I look forward to receiving your valuable contribution to perfect and realize the shortcomings that I have made.

ASSIGNMENT FRONT SHEET Qualification BTEC Level HND Diploma in Business Unit number and title Unit Marketing Processes and Planning Submission date Date Received 1st submission Re-submission Date Date Received 2nd submission Student Name Phạm Mạnh Cường Student ID BH00777 Class MA06202 Assessor name Ngo The Nam Student declaration I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism I understand that making a false declaration is a form of malpractice Student’s signature Grading grid P1 P2 M1 M2 D1  Summative Feedback: Grade:  Resubmission Feedback: Assessor Signature: Internal Verifier’s Comments: Signature & Date: Date: TABLE OF CONTENT CHAPTER 1: ENTERPRISE OVERVIEW Introduction of the business 1.1 Business Description: 1.2 History of formation and development CHAPTER 2: Marketing Concepts 2.1 Marketing definition 2.2 An overview of the marketing process to reflect the key roles of marketing 2.2.1 Understanding customers and markets 2.2.2 Create a customer-driven marketing strategy 2.2.3 Create an integrated marketing plan 2.2.4 Nurturing long-term sustainable customer relationships 10 2.2.5 Capture value from customers 11 CHAPTER 3: ANALYSIS OF THE MARKETING ENVIRONMENT OF THE BUSINESS 13 3.1 Functions and tasks of Marketing in the organization 13 3.1.1 Brand creation and development: 13 3.1.2 Market research and customer analysis 13 3.1.3 Marketing and advertising strategy 14 3.1.4 Public Relations 15 3.1.6 Customer Relationship Management 16 3.1.7 Advise the Board of Directors on marketing strategies, products and customers 17 3.2 Characteristics of the business's internal environment 17 3.2.1 Microenvironment 20 3.2.2 Macro environment 25 CHAPTER : AN ANALYSIS OF HOW MARKETING INFLUENCES AND INTERRELATES WITH OTHER FUNCTIONAL DEPARTMENTS 28 4.1 Marketing influence and relationships with other functional departments 29 4.2 The importance of effective relationships between Marketing and other functional departments in the corporate context 31 References 37 CHAPTER 1: ENTERPRISE OVERVIEW Introduction of the business 1.1 Business Description:  Company name: Masan Consumer Corporation (Masan Consumer) International transaction name: Masan group corporation Short name: MSN Meaning of the name Masan: The word Ma means strong, and san means product The letter S in the middle also means the shape of the country of Vietnam  Email address: danielle@msn.masangroup.com Website: https://www.masangroup.com Fax: (+84) 28382741 Phone: (+84) 28625638  Chairman: Nguyen Dang Quang  Head office: Room 802, 8th floor, building Centra Plaza, No 17 Le Duan, Ben Nghe Ward, District 1, Ho Chi Minh City Masan Consumer's logo Masan's logo has two main FIGURE 1.1 MASAN CONSUMER’S LOGO colors, blue and orange, the symbol of two interlocking birds flying together, representing the group's desire to reach out and fly further in the future and bring consumers the best products best quality products Source : Printgo Brand value In the realm of marketing theory, Brand equity is a value-added feature of products and services provided by businesses that customers and consumers perceive, feel, evaluate, compare, and react to In Vietnam, this value is referred to as Brand Asset, which is a type of intangible fixed asset that is depreciated and gradually reduces in value over time and is quantified and reflected on the enterprise's balance sheet This item may not be widely known, but it can be found on the consolidated financial statements of many large enterprises such as The Gioi Di Dong, Vinamilk, and most notably, Masan According to Masan's 2022 consolidated financial statements, the group's brand equity has increased by VND 1,284 billion over the past year, bringing Masan's brand equity balance to VND 2,707 billion by the end of 2022 (DNSE,2023) This data suggests that Masan may have the largest brand equity value in Vietnam's financial statements, which is not surprising given the company's successful M&A deals and ownership of a diverse ecosystem of well-known brands such as WinMart, WinMart+ (formerly VinMart, VinMart+ of VinCommerce), Phuc Long, Vinacafe Bien Hoa, Vinh Hao mineral water, and NET laundry detergent (DNSE,2023) FIGURE 1.1: Residual value of brand equity on Masan Consumer's consolidated financial statements (VND million) Source: Statistics of audited financial statements of enterprises over the years It can be seen that Masan's consolidated brand value has reached nearly 3,000 billion dong in 2020 In this year, the cost of brand assets has increased by 1,604 billion dong from the business combination.x` The corporation's mission is to provide superior products and services to nearly 100 million Vietnamese people, so that they pay less for their daily basic needs Vision: 25 years ago, Masan started its journey with the belief of “Serving consumers” Desire to become a large corporation, leading the market, then becoming a potential growth partner and preferred employer in Vietnam 1.2 History of formation and development - January 4, 1996: Masan established a company in Russia to import and trade food products in the Eastern European market - 2001: Masan Food brand was brought to Vietnam market, marking the appearance of this brand in the domestic consumer goods market - 2002: To penetrate into the potential domestic market, the Company changed its direction from export business to the domestic market by launching the brand name “Chinsu” Open the screen is the corresponding country chinsu - August 1, 2003: Renamed Ma San Industry - Trade Joint Stock Company In this year, this trade center has launched Chin-su premium fish sauce production to the market - In November 2004 the company was established under the name Ma San Maritime Joint Stock Company with a charter capital of 3.2 billion dong - 2008: Masan Industry - Trade Joint Stock Company changed its name to Masan Food Joint Stock Company (Masan Food) - In August 2009, the Company changed its name to Masan Group Joint Stock Company; On May 11, 2009, Masan was successfully listed on the Ho Chi Minh City Stock Exchange; In July 2015, the company officially changed its name to Masan Group Joint Stock Company, which is used to this day - 2011: Masan Food Joint Stock Company changed its name to Masan Consumer Goods Joint Stock Company (MasanConsumer) During this year, Masan Consumer made a private placement of 10% shares for $159 million to investor Kohlberg Kravis Roberts & Co recovered by the United States, thereby valuing the company at $1.6 billion - At the end of 2011: Masan Consumer spent more than 50 million USD to buy back the stock chip part of Vinacafé Bien Hoa Joint Stock Company This is a step that marks the company's expansion beyond the food sector 2021: - The year 2022 of Masan reflects that the group's commercial assets have increased by VND 1,284 billion in the past year Accordingly, Masan's brand equity balance by the end of 2022 is VND 2,707 billion (DNSE,2023) CHAPTER 2: Marketing Concepts 2.1 Marketing definition Today, marketing is defined in a wide variety of ways In the early decades of the 20th century, the term "marketing" was first used in the US In the 1980s, it arrived in our nation after spreading throughout Europe and Asia The word "market" in English, which meaning "market, market," is where the term "marketing" originates Marketing is frequently mistaken for marketing because the suffix "ing" denotes approach (Graeme Drummond, 2005) There are many ways to define marketing: Through the creation and exchange of products and values with others, marketing is a social and managerial activity that enables individuals and groups to achieve what they want wants and needs (Kotler et al., 1999) Marketing is the management process responsible for identifying, anticipating, and satisfying customer requirements profitably Chartered Institute of Marketing (CIM) Marketing is the process of planning and executing the ideas, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy the objectives of the individuals and organizations (American Marketing Association) According to the definitions given above, marketing is a technique used to facilitate value exchange Such exchanges must be mutually advantageous to be sustained Value production is emphasized in all definitions Value is the reward that each party gives to an exchange desire for example (money, assistance, or goodwill) Exchange ties must endure for them to be effective Sales are short-term or one-time transactions, whereas marketing is the continuing development of long-term barter relationships In addition, Marketing according to (Philip Kotler,2012) means: "Marketing is the process by which individuals and groups achieve needs and wants by creating and exchanging products and values between parties" 2.2 An overview of the marketing process to reflect the key roles of marketing 2.2.1 Understanding customers and markets Understanding customers and markets is a crucial aspect of business development for any company, including Masan Consumer By gaining insights into customers' preferences, needs, and behaviors, as well as understanding market dynamics, Masan Consumer can effectively tailor its products and strategies to meet the demands of its target audience Here's how Masan Consumer focuses on understanding customers and markets: Market Research: Masan Consumer invests in market research to gather data and analyze market trends, consumer behavior, and competitors This research helps the company identify customer preferences, emerging market opportunities, and potential areas for growth Consumer Insights: Masan Consumer conducts various surveys, focus groups, and interviews to gain deeper insights into consumer preferences, habits, and buying patterns By understanding their target customers, Masan Consumer can develop products and marketing campaigns that resonate with their needs and desires Data Analytics: The company utilizes data analytics tools and techniques to analyze large sets of data, including sales data, customer feedback, and market trends This helps Masan Consumer uncover valuable insights, such as consumer segmentation, purchasing patterns, and product performance, enabling them to make data-driven decisions Monitoring Competitors: Masan Consumer keeps a close eye on its competitors to understand their strategies, product offerings, and market positioning This information helps Masan Consumer identify competitive advantages and develop differentiation strategies to stay ahead in the market Customer Feedback and Engagement: Masan Consumer actively seeks customer feedback through surveys, reviews, and social media platforms This feedback allows the company to gauge customer satisfaction, identify areas for improvement, and address any issues promptly Moreover, Masan Consumer engages with its customers through various channels, building strong relationships and loyalty By continuously investing in understanding customers and markets, Masan Consumer can adapt its business strategies, develop innovative products, and deliver value to its customers This customer-centric approach ensures that Masan Consumer remains competitive and responsive to evolving market trends and consumer preferences 2.2.2 Create a customer-driven marketing strategy Creating a customer-driven marketing strategy is essential for Masan Consumer to effectively reach and engage its target audience By putting customers at the center of its marketing efforts, Masan Consumer can better understand their needs, communicate relevant messages, and build strong brand loyalty Here are some key components of a customer-driven marketing strategy: Segmentation and Targeting: Masan Consumer segments its customer base based on demographic, psychographic, and behavioral characteristics This allows the company to identify specific customer groups with distinct needs and preferences By understanding these segments, Masan Consumer can tailor its marketing efforts to target the right audience with the right messaging Value Proposition: Masan Consumer develops a clear and compelling value proposition that communicates the unique benefits and value its products offer to customers This helps differentiate Masan Consumer's offerings from competitors and highlights the specific value it delivers to customers Customer Journey Mapping: Masan Consumer maps out the customer journey, from initial awareness to postpurchase, to understand the touchpoints and interactions customers have with the brand This helps identify opportunities to enhance customer experience and provide personalized messaging and offers at each stage of the journey Product Development: Masan Consumer incorporates customer feedback and market insights into its product development process By understanding customer needs and preferences, Masan Consumer can create products that align with customer expectations and provide solutions to their pain points Integrated Marketing Communications: Masan Consumer develops an integrated marketing communications strategy that utilizes various channels to reach its target audience effectively This may include traditional advertising, digital marketing, social media, public relations, and other promotional activities The messaging and content are crafted to resonate with customer needs and highlight the unique value of Masan Consumer's products Customer Engagement and Relationship Building: Masan Consumer focuses on building long-term relationships with its customers through continuous engagement and personalized interactions This includes loyalty programs, customer feedback mechanisms, and responsive customer service By nurturing customer relationships, Masan Consumer can foster loyalty and advocacy among its customer base Measurement and Analysis: Masan Consumer regularly tracks and analyzes marketing performance metrics, such as customer acquisition, retention, and satisfaction This allows the company to assess the effectiveness of its marketing efforts and make data-driven adjustments to optimize its strategies By creating a customer-driven marketing strategy, Masan Consumer can better understand its target audience, deliver relevant messaging, and build strong customer relationships This approach helps drive customer satisfaction, brand loyalty, and ultimately business growth 2.2.3 Create an integrated marketing plan Creating an integrated marketing plan is essential for Masan Consumer to ensure a cohesive and effective approach to reaching its target audience across various channels An integrated marketing plan combines multiple marketing tactics and channels to deliver consistent messaging and maximize the impact of marketing efforts Here are the key steps involved in creating an integrated marketing plan: ensure good management of its relationships with stakeholders and maintain transparency, ethics and social responsibility in its business operations SUPLIER Suppliers are organizations that provide input products, materials, and services for enterprises to ensure the implementation of production and business activities Suppliers provide input materials for enterprises The production process should have a great influence on the business The quality and cost of materials affect the quality and price of the product Masan Consumer's relationship with suppliers is very favorable, the two sides unite and support each other, so the company's business activities are always stable and highly proactive Searching for suppliers in the market to reduce the most optimal cost can compete with other businesses As one of the largest enterprises in Vietnam, Masan has bargaining power with suppliers and achieves cost-effective rates Opportunity: Supply high quality raw materials and products from reliable suppliers Create long-term partnerships and positive interactions with suppliers Leverage supplier innovation and creativity to improve products and business processes Challenge: Ensuring a stable and uninterrupted supply, facing changes in the market and customer needs, requiring flexibility on the part of suppliers, managing risks related to price, quality supplier quality and reliability => In summary, the supplier factor in the macro environment of Masan Consumer has a great impact on the stability of supply, product quality, price and profit of the company Good supplier relationships and effective management are vital to ensuring Masan Consumer's success in a competitive market THE COMPANY The company factor in the microenvironment of Masan Consumer has a great influence on the company's marketing activities Here are some of the key impacts: Marketing strategy: Company factors such as organizational culture, vision and business strategy of Masan Consumer will directly affect the decision on marketing strategy For example, a company with a long-term vision and commitment to innovation will develop a marketing strategy that focuses on research and development of new products Marketing budget: The company needs to determine the financial resources and budget for marketing activities Company factors such as financials, investment decisions and prioritization of other business activities will affect the level of investment and the scope of marketing activities 24 Financial instability: Financial instability or poor financial performance may affect Masan Consumer's ability to invest in product development, marketing campaigns or improving customer service This can hinder its competition and growth potential in the market Opportunity: Effective use of finance to invest in marketing activities and product development Challenge: Managing finances and resources to ensure effective marketing => In summary, the company factor in the microenvironment of Masan Consumer has a significant impact on marketing activities, from strategy, financial resources, organizational structure to the capacity and talent of the marketing team Masan Consumer needs to continuously improve product quality, invest in customer service, drive innovation and growth, accelerate marketing and branding strategies, and maintain financial stability and careful financial management 3.2.2 Macro environment Demographic environment Vietnam has an abundant human resource with many countries in the region and ranks first in the world The country's average population as of December 31, 2020, the estimated population of Vietnam is 97,757,118 people, an increase of 876,475 people compared to the population of 96,903,947 people in 2019 (danso.orgviet-nam) Rapid population growth opens the Masan consumer goods market to expand, creating opportunities for product consumption and revenue growth Of the total population of the country in 2020, the population in urban areas accounted for 36.8%, an increase of 2.4% compared to 2019; population in rural areas accounted for 63.2%, down 2.4% compared to 2019 Favorable for the development of consumer goods and the fact that this huge potential comes with an annual increase of 34 %, concentrated in urban areas The number of people of working age accounts for about 66% of the population structure Maximum help for the company in expanding production scale, their production activities will not be interrupted because of labor shortage Opportunity: The population growth and the increase in the number of consumers create a large potential market for Masan Consumer 25 The change in population structure, such as the increase in the number of small families, the increasing position of women in purchasing decisions, requires Masan Consumer to create suitable products and services with the diverse needs of customers Challenge: Changes in population distribution, such as the growth of urban areas, require Masan Consumer to adjust its distribution and marketing strategies to reach customers in urban areas Changes in demographic characteristics, such as population aging, require Masan Consumer to create products and services that match the needs and preferences of an increasingly older customer group Economic environment According to the General Statistics Office, in 2021, the gross domestic product (GDP) in 2021 is estimated to increase by 2.58% over the same period in 2020 Of which, in the first quarter, it will increase by 4.72%; the second quarter increased by 6.73%; the third quarter decreased by 6.02%; In the first quarter of the fourth quarter, the growth rate increased by 5.22% General Director of the General Statistics Office Nguyen Thi Huong said that in the context of the COVID-19 epidemic, which seriously affected all sectors of the economy, especially in the third quarter of 2021, many sectors Important economic localities I have to implement prolonged social distancing, GDP in 2021 is estimated to increase by 2.58% over the same period in 2020 which is a great success of our country in disease prevention, maintaining production business Inflation is under control, the average consumer price index in 2021 increased by 1.84% over the previous year, the lowest increase since 2016 Core inflation in 2021 increased by 0.81% (GSO,2021) Opportunity: Growing economy->Increasing personal income Challenges: Inflation increases slightly Natural environment Vietnam is located at the southeastern tip of the Indochinese peninsula Vietnam borders with the Gulf of Thailand to the south, the Gulf of Tonkin and the East Sea to the east, China to the north, and Laos and Cambodia to the west The adjacent territory of Vietnam is S-shaped and the distance from North to South is about 1,650 km, the position of the most pier in the East to West direction is 50 km, with a 3,270 km long 26 coastline and adjacent to the islands Thanks to the location With the favorable location of Vietnam, Masan easily trades with countries across the country by road, waterway, and air Opportunity: Fast import and export, shipping Challenges: Climate change, environmental impact management, compliance with environmental protection regulations Legal and political environment Vietnam is one of the most politically stable countries in the world, creating an ideal environment for the government to implement deeper and more active reforms, bringing in foreign investment capital into businesses Helping businesses rely on that capital to develop production and business, expand market share To protect consumers, the government has also passed a consumer protection law, a competition law, and established a department of food safety and hygiene standards for consumers Therefore, before implementing marketing strategies to introduce new products, the company must check product quality extremely closely Currently, MASAN Group is also implementing HACCP, an international standard in food production and processing, and strives to obtain HACCP certificate in April 2006 Opportunity: Provide fair competition and investment support Challenges: Policy volatility, political risk and regulatory risk management Social and cultural environment Traditional Tet in Vietnam is a great opportunity for the consumer goods industry when consumers have the habit of buying cassava during the holiday Habits and culture of daily family activities with family meals with traditional dishes are close images for Chisu to better approach customers The living needs of consumers are now higher than before When choosing food products, consumers pay more attention to food safety and hygiene, including inventory Trademark Information on the use of preservatives or colorants in products With the development of communication technology, this sensitive information, if any, will be transmitted very quickly The habit of watching TV every night with the family during the epidemic season is an opportunity for Chinsu to approach a group of potential customers who are housewives 27 Opportunity: Understand and leverage customer cultural and psychological characteristics, create products and services that match their needs and values Challenge: Facing cultural diversity and values in the market, managing and creating a brand image consistent with the values and beliefs of diverse customers Technological environment Vietnam is a developing country, the level of science and technology is getting higher and higher This is an advantage that Masan has known to take advantage of in his marketing activities Automation technology, automatic production lines are developing strongly in Vietnam The 4.0 era, followed by the strong development of online distribution channels, is an opportunity to expand markets and approach new customers E-commerce has been developed for a long time Recently, due to the highly infectious nature of the Covid-19 virus and the convenience of online ordering and delivery, contactless goods purchase and sale services have increased sharply Opportunities: Using technology to improve manufacturing processes, increase customer engagement through online platforms, and develop innovative products and services Challenges: Facing the rapid change of technology, competing in the application of new technology and ensuring information security 28 CHAPTER 4: ANALYZE MARKETING'S RELATIONSHIP WITH OTHER DEPARTMENTS 4.1 Marketing influence and relationships with other functional departments Group 1: R&D department (Research and Development) Support: Marketing provides valuable insights and feedback to the R&D department regarding customer preferences, market trends, and competitive landscape, which can inform the development of new products or improvements to existing ones R&D collaborates with Marketing to understand customer needs and preferences, helping to develop innovative and market-driven solutions Potential conflicts: Prioritization of Projects: Different perspectives and priorities may lead to conflicts regarding which projects should be pursued Marketing may prioritize products that have high market potential and immediate customer demand, while R&D may focus on long-term innovations that require more time and resources Time Constraints: Conflicts can arise due to time pressures Marketing may desire faster product development and shorter lead times, while R&D may require more time for thorough research and development processes Conflicts may arise when the R&D department proposes ideas or features that are technically feasible but may not align with the market demand or fit the marketing strategy Marketing may feel frustrated if the R&D department fails to deliver products or solutions that meet customer expectations or align with the marketing positioning Group 2: Purchasing and Production department Support: 29 Marketing collaborates with Purchasing and Production to ensure an adequate supply of materials and resources to meet customer demand Marketing provides sales forecasts and market insights that help the Purchasing and Production departments plan production schedules and manage inventory levels effectively Potential conflicts: Conflicts may arise if the Purchasing and Production departments face challenges in meeting the demand forecasted by Marketing, leading to product shortages or delays Marketing may request changes or improvements in the production process or product quality, which may increase costs or disrupt existing production workflows Group 3: Finance & Accounting Department Support: Marketing works closely with the Finance department to develop budgets, allocate resources, and track marketing expenses Finance provides financial analysis and data that assist Marketing in evaluating the profitability and return on investment (ROI) of marketing campaigns and initiatives Potential conflicts: Conflicts may arise if Marketing requests an additional budget or resources that exceed the allocated budget or are deemed financially unfeasible by the Finance department Marketing may have differing priorities when it comes to allocating resources, such as investing in marketing activities versus cost-saving measures, which may lead to disagreements with the Finance department Group 4: Sales Department Support: Marketing and Sales collaborate closely to develop sales strategies, promotional campaigns, and customer acquisition and retention plans 30 Marketing generates leads and creates marketing materials that support the Sales department's efforts in converting prospects into customers Potential conflicts: Conflicts may arise if there is a lack of effective communication or alignment between Marketing and Sales regarding target markets, customer personas, or sales goals Sales may feel that the leads generated by Marketing are of low quality or not sufficiently qualified, leading to inefficiencies and disagreements on lead generation strategies Group 5: HR Department Support: Marketing and HR collaborate to develop employer branding strategies to attract and retain top marketing talent HR supports Marketing in recruiting and hiring skilled marketers who can execute marketing strategies effectively Potential conflicts: Conflicts may arise if there are disagreements over staffing needs, skill requirements, or compensation packages for marketing roles Marketing may feel frustrated if HR fails to attract and retain the desired talent pool or provide adequate training and development opportunities for marketing professionals Overall, while there are potential areas of support and synergy between the Marketing department and other departments, conflicts can arise due to differences in priorities, resource allocation, communication gaps, or conflicting objectives Effective communication, collaboration, and a shared understanding of organizational goals can help mitigate potential conflicts and foster a more integrated and successful cross-functional working environment 4.2 The importance of effective relationships between Marketing and other functional departments in the corporate context Group 1: R&D department (Research and Development) 31 The effective relationship between the Marketing department and the Research and Development (R&D) department in the context of Masan Consumer's business closes is extremely important Here are the importance of this relationship: Understand market needs: Marketing department is the bridge connecting the company and customers They collect information about market needs, preferences and trends Thereby, the Marketing department shares this information with the R&D department to help them better understand market needs and develop suitable products and services Support product and service development: The close relationship between Marketing and R&D department helps to ensure that products and services are developed to meet the needs of customers The Marketing Department provides detailed information on customer requirements, market feedback and consumer trends so that the R&D department can create innovative and attractive products and services Speed up the development process: An effective relationship between the Marketing department and the R&D department helps to shorten the time to develop new products and services Through the constant sharing of information and ideas, these two departments can work together to drive a fast and efficient development process Shaping product strategy: Marketing department provides information about market, competitors and customer requirements to R&D department This helps the R&D department shape product strategy and create products that are highly differentiated and valuable to customers Synchronize Marketing Strategy: An effective relationship between Marketing and R&D department helps to ensure that marketing strategy and product strategy work in sync The Marketing Department can use information from the R&D department to shape marketing strategies, and partner with the R&D department to build a marketing campaign that aligns with the product's features and values In summary, the effective relationship between Marketing department and R&D department in Masan Consumer's business plays an important role in understanding market needs, Supporting the development of products and services, hastened the development process shape product strategy and synchronize marketing strategy The close cooperation and communication between these two departments benefits the growth and success of the company 32 Group 2: Purchasing and Production department The effective relationship between Marketing and Procurement and Production in the corporate context of Masan Consumer is of considerable importance Here are the key roles of this relationship: Understanding customer needs: Marketing department is an important source of information about customer needs and requirements An effective relationship between Marketing and Procurement and Production helps to ensure that Procurement and Production understands these requirements and can fulfill them during the procurement of raw materials and production of the product Optimization of production process: Marketing department provides information on market demand, consumption trends and customer requirements to Procurement and Production department This helps Procurement and Production efficiently shape the production process, from planning raw materials and materials to be purchased to manufacturing processes and managing costs Manage supplier interactions: Marketing and Procurement and Manufacturing collaborate in supplier selection and management The Marketing Department provides information on quality requirements, delivery times, and product value to Procurement and Manufacturing, while Procurement and Manufacturing seeks and builds partnerships with suppliers supply to ensure stable supply and product quality Cost and Profit Management: An effective relationship between Marketing and Procurement and Production helps to ensure that procurement and production processes are conducted efficiently, minimizing waste and unnecessary costs necessary This contributes to the company's profit optimization Synchronize marketing and production strategies: An effective relationship between Marketing and Procurement and Production helps ensure that marketing and production strategies work in sync The Marketing Department provides information on market requirements and changes to the Procurement and Manufacturing department, while the Procurement and Production department provides information on production capabilities and resources to assist the Marketing department in shaping marketing strategy In summary, the effective relationship between the Marketing department and Procurement and Production department in Masan Consumer plays an important role in understanding customer needs, optimizing production process, managing interaction with customers suppliers, manage costs 33 and profits, and synchronize marketing and production strategies The close cooperation and interaction between these two departments contributes to the success and development of the company Group 3: Finance & Accounting Department The effective relationship between the Marketing department and the Finance & Accounting Department in the Masan Consumer enterprise is of considerable importance Here are the key roles of this relationship: Financial resource management: The Finance & Accounting Department is responsible for managing and operating financial resources in the company An effective relationship between the Marketing department and the Finance & Accounting Department helps to ensure that the Marketing department has sufficient financial resources to execute marketing and promotional activities yet adheres to budget constraints and goals company profits Shaping Marketing Strategy: The Marketing Department provides important information about market needs, customers, and competition The effective relationship between the Marketing department and the Finance & Accounting Department helps shape the marketing strategy in line with the company's financial capabilities The Finance & Accounting Department assesses the financial viability, feasibility and risks of proposed marketing activities and makes smart decisions regarding financial resources Measuring marketing effectiveness: The Finance & Accounting Department plays an important role in measuring the effectiveness and benefits of marketing activities An effective relationship between the Marketing department and the Finance & Accounting Department ensures that financial metrics, such as marketing return on investment (ROI), are being monitored and evaluated in an accurate and disciplined manner This helps the company make the necessary decisions to optimize its financial resources and ensure that its marketing activities deliver the highest value and profits Financial risk management: The effective relationship between the Marketing department and the Finance & Accounting Department helps the company manage financial risks related to marketing activities The Finance & Accounting Department assesses and tracks financial risks, such as price fluctuations, advertising costs, and unsatisfactory sales volume At the same time, the Marketing department provides important information for assessing and forecasting marketing risks The collaboration between these two departments helps the company make smart decisions to reduce financial risks in marketing activities 34 In summary, the effective relationship between the Marketing department and the Finance & Accounting Department in Masan Consumer's business is of considerable importance in managing financial resources, shaping marketing strategies, and measuring marketing effectiveness and financial risk management The close cooperation and shared information between these two departments contribute to the success and sustainable development of the company Group 4: Sales Department The effective systematic relationship between Marketing department and Sales department in Masan Consumer enterprise is of great importance Here are the important effects of this relationship: Understanding customer needs: Marketing department captures information about customers' needs, preferences, and consumption behavior An effective relationship with Sales helps convert this information into an effective sales strategy Sales department can provide real feedback from customers, help Marketing department better understand market feedback and adjust marketing strategy to meet customer needs Enhance market access: The Marketing Department and Sales Department work together to develop a goto-market strategy Marketing creates brand and product awareness through advertising and marketing, while the Sales Department takes on the role of reaching customers, building relationships, and persuading customers to buy products The effective relationship between these two departments ensures that Masan Consumer has the ability to reach and facilitate marketing and sales Synchronize Marketing and Sales: An effective relationship between Marketing and Sales ensures that these two activities work in sync and support each other Marketing provides Sales Department with marketing materials, sales support materials and detailed product information to help the sales team their job effectively Sales department provides real feedback from customers, helps Marketing department adjust marketing strategy and provides necessary information to create value and benefits for customers Sales optimization: Effective relationship between Marketing department and Sales department helps to optimize sales Marketing delivers engaging and motivating marketing messages to customers, while Sales Department uses sales skills to convert leads into actual customers The collaboration between these two departments helps to confirm that Masan Consumer has the ability to grow sales and achieve business goals 35 In summary, the effective relationship between Marketing department and Sales department in Masan Consumer's business plays an important role in understanding customer needs, enhancing market access, synchronizing marketing activities and sales, and optimize sales The close cooperation and information sharing between these two departments contribute to the success and sustainable development of Masan Consumer Group 5: HR Department The effective relationship between the Marketing department and the Human Resources (HR) department in Masan Consumer's business is of considerable importance and affects the success of the company Here is an analysis of the importance of this relationship: Recruiting and developing human resources: The Marketing Department needs to have staff with skills and in-depth knowledge of marketing An effective relationship with the HR department helps to ensure that the recruitment process is conducted correctly and efficiently, and that the company has employees who are competent and suitable for the job requirements In addition, the HR department also plays an important role in employee development through training and skills development The collaboration between the Marketing department and the HR department ensures that Masan Consumer has a qualified and qualified workforce to execute the marketing strategy Building company culture and retaining employees: An effective relationship between the Marketing department and the HR department together builds and maintains a positive company culture The Marketing department plays an important role in promoting the company's values and vision to its employees, while the HR department ensures that benefits policies, processes, and programs support the building and maintenance of the company's culture company chemistry A good relationship between these two departments helps to create a positive working environment where employees feel united and enjoy their work This also contributes to retaining talented employees and creating competitive strengths for the company Performance management and employee evaluation: An effective relationship between the Marketing department and the HR department is also important in performance management and employee evaluation The Marketing Department provides information on marketing goals, targets, and results, while the HR department ensures a fair and due process of performance reviews The collaboration between these two 36 departments ensures that the company has a fair performance evaluation mechanism and at the same time creates development and promotion opportunities for employees based on their performance In summary, the effective relationship between Marketing department and HR department in Masan Consumer's business plays an important role in recruiting and developing human resources, building a positive company culture, and retaining employees, as well as performance management and employee evaluation The close cooperation between these two departments contributes to the success and sustainable development of Masan Consumer SELF-COMMENT ABOUT THE ARTICLE In this essay, I have been transformed into the position of “marketing executive” in the context of Masan Consumer company to analyze and research an overview of the marketing process, the roles and responsibilities of the marketing department, the influence of marketing to other departments, the importance of its effectiveness, the macro and micro environment of the business In the process of transforming into a marketing officer of the company, I have successfully completed the assigned tasks, but due to my limited qualifications, I initially applied theory to practice, so this report is inevitable shortcomings and limitations in the writing process I look forward to receiving your valuable contribution to perfect and realize the shortcomings that I have made Finally, I would like to thank Mr Nam for helping me a lot in this thesis References [1] Masan consumer: (no date) :: MASAN CONSUMER :: Available at: https://www.masanconsumer.com/ (Accessed: 17 June 2023) 37 [2] Drummond, G and Ensor, J (2005) Introduction to marketing concepts Amsterdam: Elsevier Butterworth-Heinemann [3] Nụ Cười Của Tỷ Phú Nguyễn đăng Quang: Giá Trị Thương Hiệu Của tập đoàn Masan Tăng Hơn 1.200 tỷ đồng Trong Năm 2022 (2023) Entrade X by DNSE Available at: https://www.dnse.com.vn/senses/tin-tuc/nu-cuoi-cua-ty-phu-nguyen-dang-quang-gia-tri-thuonghieu-cua-tap-doan-masan-tang-hon-1200-ty-dong-trong-nam-2022-33036771?from=NET (Accessed: 13 June 2023) [4] Ngọc, T (2014) Masan consumer Continues to Consolidate Potential, Tin nhanh chứng khoán Available at: https://www.tinnhanhchungkhoan.vn/masan-consumer-tiep-tuc-cung-co-tiem-lucpost16639.html (Accessed: 16 June 2023) [5] (No date) Vietnam Population Latest (2022) - Updated Daily - danso.org Available at: https://danso.org/viet-nam/ (Accessed: 16 June 2023) 38