OVERVIEW ABOUT TO MARKETING STRATEFY TO EXPAND
Research urgency of the project
Understanding consumer markets is crucial for any business, as it directly impacts sales, service delivery, and profitability Given the ever-changing economic landscape, market stability is elusive, requiring businesses to be agile and resourceful To thrive and establish a strong market presence, companies must continuously adapt to changes and develop effective strategies to capture and maintain market share.
Vietnam, home to nearly 90 million people with a predominantly young demographic and rising income levels, presents a promising landscape for the garment industry The increasing diversity in consumer demand and the growing popularity of high-quality Vietnamese apparel have created significant opportunities for local businesses However, competition is intensifying as companies like Zenco establish their brands, alongside well-known entities such as Gấu Uniform and Zumi.com Despite these advancements, Zenco faces challenges due to the strong preference among Vietnamese consumers for established foreign brands like Zara, Mango, and H&M, which are both popular and affordable.
To address the market challenges and intense competition faced by Zenco Ltd, it is essential to explore effective marketing solutions that will facilitate the expansion of its product offerings in the garment industry.
Research objectives
- Systematizing the basic theories, market expansion modalities, and mixed marketing tools to market the company's business.
- Analyze the situation of marketing solutions to expand the market of garments of Zenco Co., Ltd in Hanoi, thereby multiplying the advantages, limitations and causes.
To enhance Zenco Co., Ltd.'s competitiveness and expand its market share, it is essential to implement targeted solutions that address existing marketing constraints Recommendations include leveraging digital marketing strategies, optimizing customer engagement through personalized communication, and investing in market research to better understand consumer needs Additionally, fostering partnerships and collaborations can help broaden the company's reach and enhance brand visibility By adopting these strategies, Zenco can strengthen its market position and drive sustainable growth.
Research scope
The scope of the study includes: research subjects, research scope, research products and study period.
+ Content of the research: marketing solutions to expand the company's garment market, focusing on variables: products, pricing, distribution and promotion.
+ Customers: mainly institutional customers and schools.
- Scope of market research: the research activity is limited at Zenco Co., Ltd in the area of Hanoi.
- Research products: the company's 3D uniform.
- Research time: research on the data from 2015 to 2017 Then introduce mixed marketing solutions to develop the market in 3 years 2018-2020.
Research Methods
+ History and development of the company.
+ List of products, policy of discount.
+ The list of customers of the company.
+ Marketing concepts and theories. b, Source:
To gather insights on the company's product offerings and pricing, data was collected from the Zenco.vn website Additionally, reports detailing the business performance from the marketing department and financial statements covering the years 2015 to 2017 were obtained.
+ Source outside the company: Basic Marketing Curriculum – Assoc Prof Tran Minh Dao, Marketing Manager - Philip Kotler,
+ The market and target customers of the company.
+ Objectives and strategies of the company.
+ The current marketing solutions that the company is using.
+ The urgent issue that the company sets.
+ Interest and preferences of customers about the company's products.
+ Assessment and evaluation of quality, price, product design.
+ Advantages and disadvantages when buying goods.
The company's product improvement efforts are significantly enhanced by valuable contributions gathered through direct observations, investigations, and interviews with team members regarding business and marketing strategies aimed at expanding the garment market Additionally, insights from customer interviews, focusing on their wants, preferences, reviews, and opinions about the products, play a crucial role in shaping these enhancements.
Subjects: interviews with 8 managers of the company, including one director and one vice director, three sales managers and three sale staffs.
+ Number of questions: 17 questions revolve around the company's market development policies.
+ Subjects: randomly Conducted questionnaire for 50 consumers in Hanoi.
The article outlines a comprehensive survey consisting of 16 questions directed at customers who have used the company's clothing and 12 questions aimed at consumers who have never utilized the brand This survey seeks to assess product demand and gather valuable reviews regarding the company's offerings and policies.
The comparison method is essential for analyzing sales data and financial performance by evaluating it against previous years This approach helps identify trends in sales effectiveness, enabling the formulation of appropriate strategies for future periods.
+ Ratio method: Usually used with comparison method to show the change of statistics through years,
+ Synthesis method: Summary of questionnaires, interviews to analyze the data collected; synthesize and select information logically, in accordance with the content of the topic.
+ Statistics method: Statistics results in the coupon template, emulation From that,extracting percentage of percentage, judge the current problems accurately
+ Comparison method: Comparing among ideas and suggestion to figure out the core problems.
BRIEF SUMMARY OF BASIC ISSUES IN MARKETING MIX
Market concept
The term "market" is intricately linked to the concept of "manufactured commodities," serving as the environment for business transactions across companies As product manufacturing evolves, the meaning of "market" continues to grow in popularity and complexity, leading to various interpretations of the term.
Philip Kotler emphasizes that the core marketing responsibility of an organization is to identify the needs, wants, and interests of its target markets By doing so, businesses can achieve their objectives more effectively and efficiently than their competitors, while also prioritizing the well-being of consumers and society as a whole.
According to marketing perspective, the term marketing is judged in two aspects:
The market can be defined as a dynamic and intricate environment where business interactions occur, characterized by the exchange of appealing goods in an open space that facilitates the exchange and interaction between various entities.
- In microscopic aspect: Market is understood as a set of customers who have the same demand for the product of the companies and its rivals
2.1.1 The concept of market expansion
Market expansion, also known as market development, refers to the strategic approach of addressing unmet needs to create new business opportunities This process involves enhancing a company's capacity to tap into existing markets while also exploring new ones, ultimately aimed at achieving business objectives and strengthening the company's market position over a defined timeframe.
2.1.2 The role of market expansion for business
Market expansion is essential for business survival in today's competitive global economy As advancements in science and technology reshape the manufacturing landscape, companies must not only secure market share but also strive to lead in their respective markets To achieve success, it is crucial for businesses to continually expand their reach and establish a strong presence in the industry.
Expanding the market helps businesses speed up the consumption of products, exploit all potential of the market thoroughly.
Expanding the market shortens product life cycle in the process of circulation, accelerates the cycle of expanded reproduction, increases the turnover of capital, and increases profitability.
To achieve stable development and enhance market share, businesses must focus on expanding their market presence A greater market share not only strengthens a company's competitive edge but also facilitates easier entry into new markets, both domestically and internationally.
The basic content of the marketing mix solution to expand the market
2.2.1 Research and target market of the company
Market research is a crucial first step in any marketing strategy, essential for business penetration and expansion It provides businesses with vital insights into the market and its influencing factors, enabling managers to make informed marketing decisions Effective market research focuses on the purchasing behavior and types of products offered, as well as the overall structure of the commodity market Businesses must assess their market share in relation to competitors to develop targeted marketing solutions Key questions addressed by market research include: Who are the customers? What are their characteristics? How much do they purchase? What types of goods are involved? Where do they buy? What motivates their purchases? And who are the competitors?
Market research plays a crucial role in market penetration and expansion by analyzing consumer attitudes, habits, and characteristics This research enables businesses to adapt and influence various factors impacting their market strategy Essentially, it involves studying potential customers in terms of scale, financial status, affordability, behavior, and buying motivation, ensuring that businesses can effectively meet customer needs.
2.2.1.2 Customer set and characteristics of customer sets
To effectively penetrate and expand into new markets, businesses must focus on attracting both new customers and current customers in existing markets New customers, often unfamiliar with the company's products and potentially loyal to competitors, require strategies that enhance the business's credibility and market position By fostering trust and satisfaction in their offerings, businesses can entice these customers to try their products Meanwhile, current customers, who already have some level of trust, may still be tempted to switch to competitors for better benefits Therefore, it is crucial for companies to conduct thorough research to understand their customers' needs and preferences, ensuring they maintain loyalty and encourage repeat purchases.
Overview of the business of Zenco Ltd
Company Name: Zenco Co Ltd.,
Head office: 55/5 - Huynh Thuc Khang - Dong Da - Hanoi
Zenco Co Ltd., is a state-owned enterprise operating under the Business License No.
0106115850 dated 06/03/20012 issued by the Department of Planning and Investment of Hanoi City.
The company has been named Zenco since its inception and has continued existing for six years.
In its early years, the company offered a limited selection of uniforms featuring simple monochromatic designs However, as aesthetic demands grew, the company expanded its offerings by researching and developing a variety of models and styles, culminating in the launch of innovative 3D clothing in mid-November 2017.
Currently, the company has a business capital of VND 6 billion and 150 employees are assigned tasks in accordance with the professional level of each person.
The organizational structure of the company
The organizational structure of the company
Vice director – in charge of production
Vice director – in charge of technique
Main business fields of the company
The organizational structure of the company
- Producing and processing textile and garment products for export and domestic consumption.
The company primarily focuses on processing, where it transforms customers' raw materials, designs, models, and technical documents into finished products tailored to their specifications This customized manufacturing process constitutes the majority of the company's annual revenue and is integral to its export operations.
The company is steadily enhancing its business operations with a focus on long-term growth, aiming to market its branded products both domestically and in key international markets such as the USA, EU, and Japan.
3.1.2 The business situation of the company
Table 3.1: Business results of the company in the past 3 years (2015 - 2017)
(Source: Financial Department) Based on the results of the company's business results can be seen:
In 2016, the company experienced a slight revenue increase of 732 million, or 1.16% over 2015; however, rising business costs led to a significant profit decline of 27.94% This downturn can be attributed to the company’s strategic shift towards manufacturing new Zenco products, which required substantial investments in manpower, materials, and finances Additionally, the opening of a new branch in Hanoi for displaying and selling Zenco garments further impacted profitability, making the profit reduction in 2016 an expected outcome.
In 2017, the company experienced a significant revenue increase of over $2 billion, representing a growth of 3.28%, alongside a remarkable 20% rise in profit compared to 2016 This positive trend underscores the success of the company's strategic shift towards garment self-production, providing strong motivation for both the management team and employees across the organization.
Analyzing the influence of environmental factors on marketing mix solutions to
to expand the market for products of Zenco limitted liability Company.
Vietnam, with a population of approximately 90 million, features a youthful demographic and rising incomes, driving a growing demand for fashion and garments Hanoi, home to Zenco's sole branch in Dong Da District, benefits from its strategic location near three rapidly urbanizing districts—Hai Ba Trung, Hoang Mai, and Hoan Kiem—making it an ideal choice for the company's first establishment This thoughtful decision positions Zenco to capitalize on the burgeoning garment industry in a densely populated area.
In recent years, the Vietnamese economy has faced many difficulties, especially after the economic crisis in 2016 This has a great impact on garment enterprises in general and Zenco in particular.
In recent years, high inflation rates, with 6.81% in 2016 and 6.04% in 2017, have significantly impacted businesses Rising input and labor costs, coupled with a decline in output prices, have created challenges for companies striving to maintain a balance between revenue, expenses, and profitability.
The growth rate directly affects the financial status and affordability of consumers By
Between 2015 and 2017, the GDP growth rates were 5.89%, 5.03%, and 5.4%, respectively, resulting in an average economic growth rate of only 5.6% per year, the lowest in five years and significantly below the targeted 6.5% to 7% This economic downturn has led to a sluggish domestic garment market, characterized by slow consumption and rising inventory levels as consumers have tightened their spending, causing many businesses to incur losses.
The political environment significantly impacts decision-making in the garment industry, which has been recognized as a key sector by the Vietnamese government To support its growth, various policies and regulations have been established, including Decision No 320/QD-TTg issued by the Ministry of Industry and Trade, which outlines the development plan for the textile and apparel industry through 2015 and sets goals for 2020 This plan aims to position the textile and garment sector as a leading export industry while enhancing competitiveness and fostering integration into the regional and global economy, thereby creating increasing business opportunities for companies in this field.
Besides, Vietnam is also considered to have political stability and security That is the opportunity and conditions for foreign investors to invest in Vietnam.
Modern technology significantly impacts the commercial landscape, particularly in Vietnam's garment industry, where companies recognize its crucial role in production By importing advanced machinery to replace outdated equipment, businesses have transitioned from traditional foot pedal machines to automated sewing lines This shift has led to enhanced labor productivity, improved product quality, and reduced prices, ultimately boosting competitiveness in the market.
Hanoi is experiencing rapid economic growth, attracting a significant number of affluent customers with stable incomes As living standards rise, these consumers are increasingly willing to invest in clothing that reflects their social status and personal style Consequently, they demand higher quality, superior design, and reputable brands To effectively meet these evolving customer expectations and enhance service offerings, Zenco must focus on developing its business strategies.
In the highly competitive and increasingly saturated garment market, Zenco, a company specializing in fashion and production, must navigate numerous rivals to uphold its successful track record and expand its market presence.
Vietnamese consumers are increasingly favoring domestic textile and garment enterprises over cheap Chinese imports due to improved designs, competitive pricing, and high-quality materials with fewer toxic concerns Notable brands like Gấu Uniform, known for its diverse and stylish uniforms, and ZUmi, recognized for its strong marketing and quality offerings, are leading this shift by providing a wide variety of products that cater to consumer preferences.
Foreign fashion brands, particularly popular ones like F5, Cava, and Anima from Malaysia, have significantly influenced the Vietnamese market with their modern colors, trendy designs, and affordable pricing F5, in particular, boasts a large fan base due to its low prices and rapid updates in fashion trends To effectively compete, Zenco must analyze the strengths of these brands in product design and swiftly enhance its brand visibility while leveraging competitive pricing as a key strategy.
Suppliers play a crucial role in providing essential inputs to the textile industry, with fabric being the primary material and a wide variety of designs and types available Additionally, garment accessories such as needles, straps, buttons, laces, and chemicals are vital for production Any disruption in the supply of these inputs can significantly impact business operations, especially in a competitive market To mitigate risks, Zenco is committed to establishing strong relationships with both fabric suppliers and accessory providers, while also implementing alternative strategies to ensure a stable supply chain.
Intermediaries play a crucial role in shaping a company's business landscape, with notable partnerships established with banks like Techcombank and Agribank since 2012 To enhance its understanding of customer needs, the company should consider engaging additional market research intermediaries Furthermore, to effectively promote the Zenco brand in the Hanoi market, it is essential to collaborate with local marketing agencies, including radio and television stations, to reach consumers quickly and leave a lasting impression.
Current situation of marketing mix solution to expand Hanoi market for 3D
3.3.1 Determine the target market of the company
3.3.1.1 Current market of the company
Zenco primarily targets the Hanoi and Hung Yen markets, with a significant presence in Hai Ba Trung district and surrounding areas Despite being a late entrant in this new market, Zenco's products account for 70% of the company's total consumption in Hanoi, thanks to thorough market research and evaluation prior to launching the Hanoi branch However, the company faces challenges due to economic downturns and a saturated demand for uniformed clothing, resulting in lower consumption rates compared to competitors To address this, Zenco is actively developing and refining strategies to attract customers and enhance its market share.
3.3.1.2 Customer and customer set characteristics
Our primary customer targets include close-knit groups of friends ranging from primary school to university students, as well as tourism companies These young and dynamic customers exhibit a strong demand for stylish and comfortable uniforms.
3.3.2 Current situation of marketing mix solution to expand Hanoi market for products of the company.
Zenco products are favored by consumers for their high quality, appealing design, trendy style, and reasonable pricing However, the company's limited product range has been noted, as many customers express interest in additional items like skirts, leggings, and T-shirts To effectively penetrate and expand the market, it is crucial for Zenco to diversify its product offerings and enhance its services.
Table 3.2 Category list and product structure (product line) of the company
Zenco's product diversification strategy focuses on various types and designs, resulting in a strong appreciation for its stylish offerings and vibrant colors among consumers A recent survey revealed that 80% of customers found the company's product models and images to be beautiful, while 12% rated them as average and only 8% expressed dissatisfaction This positive feedback underscores Zenco's solid position in the market.
The Hanoi branch of the company serves as a key location for showcasing products and providing both wholesale and retail services Enthusiastic sales staff are dedicated to assisting customers in selecting clothing that complements their body shape and offers styling advice Additionally, customers benefit from a flexible return policy, allowing them to exchange or return purchased items within five days.
For bulk buyers, shipping costs are typically low to medium due to the absence of a professional delivery team and the proximity of customers to the branch To support these customers, the branch offers to cover 50% of freight charges Zenco's branch encourages direct payments, while also accepting a 50% deposit on the order value, with the remaining balance due immediately after delivery for patrons who have engaged in three or more transactions with the branch.
A cost-based pricing strategy involves determining the product price by summing the costs of materials, manufacturing per unit, and desired profit per unit This method simplifies pricing calculations by considering the product's cost per square meter.
Price formula: P = CxS + cost of production
S: the size of fabric to create a product
This is a simple, easy-to-calculate pricing method that ensures that the company is profitable when it comes to selling
Zenco always determines the price lower than the main competitors such as F5, Zumi, to attract customers The competitor’s product price is higher than Zenco’s one one- and-a-half times.
A recent survey revealed that approximately 70% of customers expressed satisfaction with the company's pricing, while 8% considered it low and 22% deemed it relatively high To enhance customer satisfaction, the company should conduct further research and adjust its product pricing strategy accordingly.
The company has also studied and implemented some preferential payment policies in order to have a stable relationship with customers.
Table 3.3 Preferential mode in payment
Customer made payment before required time 0,7% discount
Customer made payment immediately 0.5% discount
Customer made payment late than 14 days 0.4% discount
Customers with purchase bill more than 20 million
Customers with purchase bill more than 30 million
The company frequently offers promotional discounts during holidays and Tet, with rates varying based on the quantity of goods purchased, payment method, and timing Wholesale buyers can enjoy discounts between 7% and 10%, while retail customers typically receive discounts of 3% to 6% Additionally, during holiday periods, discounts for all customers range from 15% to 20%.
Thai Binh Garment Export Joint Stock Company has chosen for its distribution channel system including 3 distribution channels: direct sales distribution channel and distribution channel through retailers and wholesalers
Channel 2: Company wholesaler retailer consumer
Channel 0 distribution (direct channel): This is a direct sales distribution channel through the product launch shop, the company's branch, no marketing intermediaries The
The company utilizes its level 0 channel to effectively promote and showcase its products and services, which are crucial for understanding market demand and competitor insights Currently, the company operates two locations: one store in Hung Yen and another in Hanoi.
Channel 1 distribution: This distribution channel aims to overcome the limit of zero- level distribution channel by the marketing intermediary With this type of channel, the company's products will be distributed through retail stores and then delivered to customers. This type of distribution helps the company expand distribution channels, improves the ability to consume goods However, with this channel, the manager must pay attention to many of the management activities of the company Channel 1 channels bring in up to 25% revenue. Currently, in Hanoi, the company signs a contract with five retailers.
Channel 2 distribution: This channel has two marketing intermediates - wholesalers and retailers, aims to overcome the limitations of the two distribution channels and expand the consumer market With this channel, the company's products will be delivered to wholesalers, and from wholesalers to retailers and final consumers Revenue of this channel is 35%, this is the main distribution channel of the company At present, the company has 20 wholesalers importing goods from factories in Hanoi and Hung Yen
Zenco operates a single store in the Hanoi market, catering to both wholesalers and retailers, which restricts customer interaction To enhance its market presence in Hanoi, the company must implement proactive strategies to increase its market share.
Zenco's promotional strategies, while limited due to a small customer base, are both reasonable and effective, focusing on retaining existing customers and attracting new ones The company employs key promotional tools such as advertising, sales promotions, and direct marketing to enhance brand awareness, encourage increased purchases, and boost sales in both current and new markets The success of these initiatives is evident, as reflected in customer orders exceeding 15 million in value.
Table 3.4 The budget allocation for the promotion tools of the company
Budget allocation Advertisement Direct marketing Sale promotion Expendic ture
Advertising serves as a vital tool for conveying information to customers while showcasing product advantages In 2013, prior to launching Zenco-brand clothing, the company's advertising budget was nearly nonexistent, focusing primarily on attracting foreign clients seeking outsourcing Their promotional efforts were limited to their website, www.Zenco.vn, which featured sparse content and difficult-to-navigate information.
CONCLUSION AND RECOMMENDATIONS FOR MARKETING MIX
Conclusions and findings from the study
Over the past three years from 2015 to 2017, the company has accomplished the goals set out in its development policy Those are:
- The company has secured a profitable business Its business is maintained and increased, ensuring regular employment and income for more than 150 staffs and employees throughout the company.
- The company has a clear investment plan in the design and manufacture of Zenco- brand products The company's products are widely known and successful initially
- Quality, design and cost of products meet the needs of the target customers - office workers.
- The company has built and expanded relationships with many customers and suppliers The products are consumed effectively and exchange activities with partners are executed smoothly.
The company has significantly enhanced its distribution channels, enabling access to a more targeted customer base and improved management of these channels Strong performance in key markets like Hung Yen and Hanoi demonstrates the company's commitment to brand development and growth.
- Promotion policies also bring positive business results and attract the attention of consumers.
The company's revenue and profit growth rates have steadily risen over the years, successfully meeting established targets, which serves as a significant motivation for both management and staff.
To foster a positive workplace, company leaders not only establish a fair compensation policy but also ensure that employees work in a supportive environment Regular training and skill enhancement opportunities are provided to help employees improve their capabilities and overall performance.
Fashion items experience rapid changes, with each design having a brief life cycle However, the company has been producing new garments since 2013, indicating a struggle to keep pace with evolving product designs.
- The company's products are narrow It is a drawback because the demand of consumer is increasing rapidly.
- The company encounters difficulties in equipping more production machinery and contacting suppliers of materials.
- Price policy is not flexible.
The company utilizes a short distribution channel, which limits its market coverage and effectiveness Additionally, the incentives offered to channel members are not compelling, further hindering the overall performance of the distribution strategy.
- Socio-economic development has led to increasing people's living standards, they are more knowledgeable and also demand higher products.
- The area where the company is located is also a potential market that many businesses want to invest in business, competitors also increase accordingly.
- The financial potential of the company is still limited so investment in marketing activities as well as business expansion is difficult and requires careful consideration.
The company, as a processing enterprise, relies heavily on raw materials supplied by partners, which limits its proactive control over production inputs Additionally, many of its machines are specifically designed for export production and are larger than the typical Vietnamese standards, potentially resulting in slow conversion rates.
- Market research, capturing and evaluating competitors are sketchy and not focused.
Targets and directions to expand the garment market of Zenco Co., Ltd
4.2.1 The goal of expanding the market and expanding the market of garments of Zenco Co., Ltd.
4.2.1.1 Target to expand the market
Although Zenco has just launched its garment manufacturing and trading business since
In 2012, the company's achievements are promising, demonstrating its ability to strengthen its brand presence in the domestic garment market The company has effectively defined its market development objectives.
Over the next decade, the company aims to solidify its presence in the Hanoi market and throughout Northern Vietnam, targeting a 10% market share in the fashion sector Additionally, plans are in place to expand by opening 2 to 4 new branches in neighboring provinces, including Hai Duong, Hai Phong, and Nam Dinh.
- To ensure stable annual revenue growth, the company strives to increase the profit from garment business to 10% annually.
4.2.2.2 Direction to expand the market
Zenco Co., Ltd should continue to implement the following strategies:
To boost sales in the Hanoi market, the company must focus on intensive market penetration strategies This involves attracting new customers who have yet to try the product, drawing in customers from competitors, and encouraging existing customers to continue their purchases.
The company has successfully broadened its market reach by extending its operations into neighboring regions, including Hai Duong, Nam Dinh, and Hai Phong This expansion is driven by strategic initiatives aimed at attracting new customers and enhancing overall consumption in these areas.
Proposals and recommendations on marketing mix solutions to expand the Hanoi
4.3.1 Proposal in market research activities
Market research is crucial for every business as it enables companies to identify evolving consumer needs and perceptions about themselves and their competitors To remain competitive, this research should be conducted consistently and regularly.
In order to develop the Hanoi market, the company needs to have a proper and effective market research method,
The company should divide its customers into two groups:
To effectively cater to bulk customers, including wholesalers and retailers, companies must comprehend their expectations regarding product quality, pricing, discounts, promotions, payment, and delivery terms for orders exceeding 15 million For customers placing smaller orders, typically under 15 million, it is crucial to investigate the underlying reasons for their limited purchases, which may stem from a lack of trust in the product, unmet requirements, or unfavorable conditions Understanding these factors can help businesses enhance customer satisfaction and increase order values.
To effectively analyze consumer behavior, the company can segment its study by districts, allowing for a comparison of regional differences This approach enables the examination of key demographic factors such as demand, occupation, income, habits, and interests, ultimately helping to identify distinct customer characteristics By understanding these traits, the company can develop targeted marketing strategies that resonate with specific consumer groups.
4.3.2 Proposal marketing mix solution to expand Hanoi market for products of Zenco Ltd
4.3.2.1 Perfecting products to expand the Hanoi market for Zenco products
In the fashion industry, style and trendy designs are essential to appeal to consumers, particularly office workers who prioritize aesthetics in their wardrobe To meet the high expectations of this demographic, companies must focus on creating visually appealing and fashionable products Offering a variety of designs in different styles is crucial for attracting more customers and enhancing sales.
In the future, the company should:
- Expanding the product portfolio, adding new products (such as uniforms that keep pace with today's trend of youth ) for ladies and gentlemen The products are also diverse in color.
- Positively design the product in sets to help customers easily shape their style and support them in the way they combine and coordinate.
The significance of product quality is paramount, as customers seek flawless items that instill confidence when worn To fulfill this expectation, companies must prioritize delivering exceptional products.
- Have regular contact with suppliers to ensure their products are always up to standard.
- Looking for new suppliers with reputable brands in the market.
4.3.2.2 Price to expand the Hanoi market for products of Zenco Co., Ltd.
Zenco's pricing is lower than its competitors With good design, good quality and competitive price, the company can attract more and more customers.
In addition, the company can apply price adjustment measures to entice more new customers, old customers as well.
- For familiar customers who have long time cooperation, good relationship with the company, the company can extend the payment time.
The company offers a discount policy for wholesale customers based on the value of their orders, which can foster long-term relationships Customers can receive a 25% discount on total orders exceeding 100 million VND per quarter, and a 28% discount for annual purchases over 500 million VND This tiered discount structure encourages bulk purchasing and loyalty among wholesalers.
To encourage early payments from customers who have either rarely or recently cooperated, implementing a discount policy can be effective This strategy not only helps avoid capital backlog but also minimizes financial risks for the company Additionally, it fosters ongoing collaboration with customers, promoting a stronger business relationship.
To effectively engage consumers, companies should prioritize offering attached gifts and discounts directly on products Implementing these price adjustments is essential for capturing customer attention and should be prominently promoted by the company.
4.3.2.3 Complete distribution to expand Hanoi market for products of Zenco Co., Ltd. Recruiting channel members: The company is a brand new in the market so the more channel it has, the better it be But the selection of channel members cannot be ignored. Distribution channel of the company is including indirect channels, so to select the best channel members, the company must ensure strict implementation of the rules in terms of scale, capacity, ability, selling, management ability, of the channel members to impact the brand positioning in the minds of customers.
To foster strong relationships with channel members, companies can establish mutually beneficial agreements that incentivize performance By negotiating attractive discount rates for channel members who prominently display the company's products and maintain competitive pricing, companies can enhance visibility and drive sales This collaborative approach not only strengthens engagement but also aligns the interests of both parties for long-term success.
Effective management of channel members is crucial for companies with streamlined distribution systems Managers should focus on closely monitoring channel activities, providing necessary support, and ensuring pricing consistency with company standards By prioritizing the interests of channel members, companies can enhance their motivation to sell and contribute to brand development.
Channel member rating: Companies must regularly evaluate their channel members to make rewards, fines, maintain or use new marketing intermediaries to effectively distribute their business.
In addition, the company may have other policies to improve its distribution channels such as:
- Addition of means of transport, support channel members in the transportation of goods.
- Always ensure the inventory is full and continuous, especially during the holidays (the time of consuming more goods), helping business activities without interruption.
The company must actively seek new channel members in potential locations, as it currently lacks relationships with local supermarkets This absence represents a significant disadvantage that needs to be addressed promptly to enhance market presence and drive growth.
- Find out the needs and obstacles of channel members and provide appropriate help. 4.3.2.4 Complete the promotion to expand the Hanoi market for the products of Zenco Co., Ltd.
Determine the promotion target and promotion object
- The company must plan to study attitudes and needs of target customers to have suitable promotion plan for each object.
When establishing promotion goals, it's essential to align them with the company's business objectives, ensuring they are available, feasible, challenging, measurable, and time-bound Depending on the current business landscape, companies may aim to increase average sales by 10% annually, expand sales locations throughout Hanoi, or open five additional intermediaries each year.
A promotion budget refers to the strategy a company employs to allocate funds for marketing activities Currently, the company uses the ability-depend method, which is appropriate for new domestic garment businesses with limited budgets However, to optimize promotional effectiveness, it is advisable to adopt the percentage-of-sales method This approach helps prevent excessive spending on ineffective promotions, ultimately safeguarding the company's financial health.
Effective coordination among promotional tools is essential for maximizing their benefits The company should prioritize direct marketing and sales promotions as primary strategies in its promotional efforts.
- Direct marketing: The company should select the most appropriate direct marketing through the means: catalog, telephone, mail, fax,
THE ACTUAL PRACTICE SITUATION AT ZENCO
Admin
5.1.1 Essential skills of a website administrator
1 Computer Proficiency: This is the minimum requirement of a webmaster because it will make your work smoother and bring more work efficiency when manipulating content on company’s website
2 Ability in Graphic Design: The requirement for a graphic design ability is a requirement that may seem a high requirement for an enterprise webmaster But it is also an indispensable requirement if you want your business to have a beautiful Website interface, attract viewers, have beautiful and professional banners, images or slides
3 Understand SEO website: This is also a requirement that may seem a high requirement for an enterprise webmaster But it is extremely important in the management of the website In order to both bring values to the articles or content of the website with readers and friendly with Google’s search engine, then the administrator is having mission to do all that work Website administrators must know how to write standard SEO articles, how to post Google-friendly images, how to increase the number of visitors to the website, as well as backlinks and create valuable backlinks.
Should write articles every day
To enhance your Google ranking, we recommend a minimum of two posts per week, but increasing your writing frequency can significantly boost your visibility Regularly updating and refreshing your content daily will further improve your standing in search results.
Some pages which I need to do SEO quickly, surely I write articles every day, the more
I write, the more opportunities to Top than others!
Constantly create high quality content
To enhance your SEO effectiveness, focus on creating unique and vibrant content rather than imitating others High-quality, original articles are essential, as they avoid potential issues with DMCA copyright infringement and perform better in search rankings.
If you own quality content, the keyword itself will pick up, do not need too many articles and SEO also much louder.
Many people seek numerous backlinks in forums, but not all backlinks are beneficial for SEO Our experience shows that only high-quality backlinks can effectively boost your keywords to higher rankings.
Owning a backlink from Vnexpress can significantly boost your keyword rankings, as this site is known for its high PageRank (PR) and strong credibility The quality of backlinks from such a reputable source is exceptional, akin to having valuable content that enhances your website's authority.
An effective SEO strategy requires a well-researched list of keywords and related terms Begin by targeting easy-to-rank keywords, then progress to longer phrases, and finally tackle more competitive short keywords This approach not only maximizes efficiency but also saves valuable time in your SEO efforts.
Take care of the website as your child
Treat your website like a child, nurturing it diligently to ensure its daily growth With dedicated effort and passion, you will achieve exceptional results.
Market
In 2 months of internship, the company has made it very easy for me to go to the market to collect data for assessing the region with the most potential customers in the Hanoi area As mentioned above, the company through the evaluation, thorough analysis, through the objective data provided by the market survey, has identified the key areas to develop new products "uniforms 3D '' in the districts: Thanh Xuan, Hai Ba Trung, Dong Da, Hoan Kiem,
Tu Liem These districts have specific characteristics that help the company expand its