A systematic investigation of key factors to enhance the ability to reach customers at maxpeed company in da nang city

DUY TAN UNIVERSITY FACULTY OF ECONOMICS - FINANCE MAJOR: LOGISTICS & SUPPLY CHAIN MANAGEMENT  - GRADUATION THESIS A Systematic Investigation of Key Factors to Enhance the Ability to Reach Customers at Maxpeed Company in Da Nang City INSTRUCTION : Dr REGINA PUMA-AT : MA NGUYỄN CAO THỤC UYÊN STUDENT : NGUYỄN HOÀNG LONG CODE : 25213316232 CLASS : K25 – HP QLC1 Da Nang, May 2023 GRADUATION THESIS ADVISOR: DR Regina Puma -at ACKNOWLEDGEMENT During the learning and research process at the Faculty of Finance and Business Duy Tan University, I have received direct teaching and valuable knowledge and experience from the professors, which has been very useful for my research and practical work In particular, I would like to express my deep gratitude to Ms Thai Thi Que Linh - Director of Maxpeed Vietnam Limited Liability Company - Danang Branch, who has created conditions to assist me during my internship at the company At the same time, I would like to thank Mr Le Truong Hung - Head of the site department, who has provided guidance and feedback during my internship at the company, as well as helping me complete this thesis Although I have tried my best during the research process, due to the limitations of time and experience, the issues presented in this thesis may have some errors I hope to receive contributions from the professors to improve the research topic Da Nang, May 2023 Student Nguyễn Hoàng Long GRADUATION THESIS ADVISOR: DR Regina Puma -at CERTIFICATE With the topic " A systematic investigation of key factors to enhance the ability to reach customers at Maxpeed company in Da Nang City ", I hereby declare that this is a topic made by me and under the guidance of MA NGUYEN CAO THUC UYEN AND DR REGINA PUMA-AT The research content and results in this topic are truthful The data in the tables for analysis, comments and evaluation are clearly stated in the reference section If there is any problem, I will be responsible for the content of my graduation thesis  Da Nang, May 2023 Student Nguyễn Hoàng Long GRADUATION THESIS ADVISOR: DR Regina Puma -at TABLE OF CONTENT ACKNOWLEDGEMENT CERTIFICATE LIST OF TABLES LIST OF FIGURES CHAPTER – INTRODUCTION 1 Rationale Reasearch objectives .3 Overview about Maxpeed Co., LTD – Da Nang Branch: 3.1 The company profiles .4 3.2 Company’s background 3.3 Function 3.4 Responsibilities .7 3.5 Organizational Structure .9 Business situation of the company .15 Statement of the problem 28 Scope and Limitations 28 CHAPTER - REVIEW OF RELATED STUDIES AND LITERATURE 29 Introduction 29 Methods Used in Finding and Reaching Customers 31 Problems Encountered in Finding and Reaching Customers 32 Factors Enhancing the Ability of Finding and Reaching Customers .33 CHAPTER - RESEARCH METHODOLOGY .35 Research Design 35 Research Methodology: 35 GRADUATION THESIS ADVISOR: DR Regina Puma -at Data gathering tool 36 Data Gathering Procedure 37 Sampling .37 Statistical tool .38 Questionnaire .39 CHAPTER - PRESENTATION, ANALYSIS, AND INTERPRETATION OF DATA 41 Methods Used in Finding and Reaching Customers 41 Problem Encountered in Finding and Reaching Customers 43 Factor Enhancing the Ability of Finding and Reaching Customers 44 CHAPTER - CONCLUSION AND RECOMMENDATION .46 Conclusion 46 Recommendations .46 REFERENCES 50 GRADUATION THESIS ADVISOR: DR Regina Puma -at LIST OF TABLES Table 1.1: Revenue of Maxpeed DN Co., Ltd from 2020-2022 16 Table 1.2: Result of import and export freight forwarding activities of the company .20 Table 1.3: Business results of Maxpeed DN from 2020-2022 22 Table 1.4: Revenue from freight forwarding 23 Table 4.1 - Methods Finding and Reaching Customers 41 Table 4.2 - Problem encountered in finding and approach customer 43 Table 4.3 - Factors Enhancing the Ability of Finding and Reaching Customers 44 LIST OF FIGURES Figure 1.1 Logo of Maxpeed – Da Nang .4 Figure 1.2 Organizational Structure of Maxpeed Ha Noi – Da Nang Bracnh Figure 1.3: Revenue source of MaxpeedVN Co., Ltd from 2020-2022 17 Figure 1.4: Revenue from transportation activities 23 Figure 1.5 The process of finding customers of Maxpeed 24 GRADUATION THESIS ADVISOR: DR Regina Puma -at CHAPTER – INTRODUCTION Rationale Currently, the globalization progress and international economic integration are going strong in the world, having a significant impact on the world's countries' trade relations This powerful impact has created a tidal wave of intense competition on the global market The establishment of organizations, regional connection, and trade agreements like the EU, WTO, ASEAN, FTA, TPP, and others helps to strong ties between countries To promote these relationships, effective logistics activities are considered as one of the strategies to help countries improve their competitive advantages and assert themselves in the international market Vietnam has a developing - economy, thus the government has established numerous programs to enhance the logistics sector so that it may more readily import and export commodities to the global market That is the reason that Vietnam officially integrated deeply with Southeast Asia and the world after the 1990s with the signing of a series of free trade agreements FTAs-Free Trade Agreements, and became Official member of the World Trade Organization (WTO) on 11/1/2007 According to the data of Tuoi Tre newspaper (2023), currently, Vietnam has had diplomatic relations with 191/193 United Nations (UN) member states, exported goods to about 230 markets and many bilateral trade agreements and about 12 multilateral trade agreements contribute to creating favorable conditions for the country's economy to develop and the transport and import-export industry in particular According to report No 94/BC-BCT of the Ministry of Industry and Trade, there are more than 4,000 businesses involved in freight forwarder and logistics, on any type of transportation: railway, airway, seaway, roadway, inland waterway, and multimodal transportation This shows that the supply may exceed the demand in the coming years, and the competition in the shipping industry among the forwarder company is increasingly fierce (HNK Giao,2020) Therefore, with the current Student name: Nguyễn Hoàng Long GRADUATION THESIS ADVISOR: DR Regina Puma -at difficult situation and fierce competition, it is necessary to have specific, reasonable and effective solutions to approach customers who have the need to use the service Associated with the development of international trade relationships is the birth and strong development of companies providing foreign trade freight forwarding services This led to the creation of Maxpeed Da Nang, a global logistics firm with a base in Korea under the name Maxpeed Korea Maxpeed Vietnam is an international logistics company, since 2005 Maxpeed vietnam is fully licensed by government for service of sea freight, air freight and total logistics Maxpeed Vietnam is a member of Maxpeed Korea, the company was established in 1990 and is holding the No position in logistics services in Korea After 17 years of operation (since 2005), Maxpeed Vietnam has expanded to branches across the country with 150 employees, including 18 tractors, 15 trucks and warehouses The company's network of activities is as follows: The head office of Maxpeed Vietnam is located in Hanoi and in turn branches are spread from South to North Up to now, the company has 18 years of operation in Vietnam market to provide many services to customers (Maxpeed, 2019) Although Maxpeed Da Nang has just entered the industry, the company is gradually improving and consolidating its business activities, professionalism and service quality Maxpeed company currently comprises of departments, namely the sales department, field department, import-export department, and accounting department In order to effectively approach and serve customers, the company will focus on the sales department And the basic process of the company with a salesperson is: finding customer information, bidding, and selling the company's products through: Gmail, calling, B2B e-commerce site, fairs and exhibitions at home and abroad After that, the forwarder is contacted to ask for freight rates Communicate with customers through applications: Skype, Zalo, Viber, Whatsapp, Line, Tango, Wechat,v.v to be able to provide customers with the best service as well as advice on all that customers need and questions Through the above process, the company's search for customers still has little investment in the budget to be Student name: Nguyễn Hoàng Long GRADUATION THESIS ADVISOR: DR Regina Puma -at able to develop the facilities to help sales staff have more advantages in finding customers and new customers The method helps customers to be more proactive in contacting the company when there is a need The application of information technology to search for customers is quite small, there has not been much investment and exploitation Therefore, it is necessary to promote marketing strategies on social networking sites, groups in the field of Logistics, build a website with full functions to look up information and prices of that type of goods In logistics, approaching and managing customers plays an extremely important role However, there are still not many effective methods for approaching customers at Maxpeed This leads to difficulties in attracting and retaining customers, as well as providing solutions and services that meet the needs of customers Therefore, researching and developing new methods of approaching customers is essential to ensure the sustainable development of Maxpeed compared to its competing rivals Therefore, this topic will focus on the issue and provide some solutions to better approach customers So, this research is conducted to enhance the ability to reach customers at Maxpeed company in Da Nang City, VietNam Reasearch objectives In this research, I focus on developing Maxpeed Logistics's ability to reach customers through newer, more timely ways such as using the support of information technology, network utilities, social, website Overview about Maxpeed Co., LTD – Da Nang Branch: 3.1 The company profiles Student name: Nguyễn Hoàng Long GRADUATION THESIS ADVISOR: DR Regina Puma -at Figure 1.1 Logo of Maxpeed – Da Nang Source: From Maxpeed Website on the internet Maxpeed HaNoi Co., Ltd - Da Nang representative office is a subsidiary of Maxpeed Vietnam, one of the leading forwarding companies established in 2005 The office is located at Room 5.7, 5th Floor, Danabook Building, 76-78 Bach Dang Street, Hai Chau I Ward, Hai Chau District, Da Nang The company was founded on May 27, 2016, and is legally represented by Mr Vu Quang Hung Maxpeed HaNoi Co., Ltd - Da Nang representative office provides professional transportation and logistics services in the Central and South-central regions of Vietnam The company places customer satisfaction at the center of its operations and is committed to providing the best quality services at competitive prices The logo of the company reflects its vision and values of reliability, speed, and efficiency 3.2 Company’s background Maxpeed Vietnam is one of the leading freight forwarding companies, established in 2005 Maxpeed Vietnam has been licensed by the Government to operate in the overall logistics, sea and air transportation services Maxpeed Vietnam is a member of Maxpeed Korea, a company established in 1990 and currently holding the No.1 position in logistics services in Korea After 17 years of operation (since 2005), Maxpeed Vietnam has expanded to branches across the country with 150 employees, including 18 prime movers, 15 trucks, and warehouses (Maxpeed, 2019) The company's operating network is as follows: Maxpeed Vietnam's head office is located in Hanoi and its branches are spread from North to South Initially, Maxpeed was just a small company with limited staff and transportation vehicles However, with a vision and sustainable development strategy, Maxpeed gradually expanded its operation scale, invested in additional Student name: Nguyễn Hoàng Long