Marketing operation of techcombank current situation and suggested solutions,graduation thesis

STATE BANK OF VIETNAM BANKING ACADEMY Foreign Languages Faculty -& - GRADUATION THESIS MARKETING OPERATION OF TECHCOMBANK CURRENT SITUATION AND SUGGESTED SOLUTIONS Lecturer Student Class Student code : To Kim Ngoc (Ph.D) : Hoang Le Minh : K16 – ATCC : 16A7510101 May 2017 I LETTER OF DECLARATION I hereby declare that the Graduation Project ‘Marketing Operation of Techcombank – Current situation and suggested solutions’ is the results of my own research and has never been published in any work of others During the implementation process of this project, I have seriously taken research ethics; all findings of this projects are results of my own research and surveys; all references in this project are clearly cited according to regulations I bear full responsibility for the fidelity of the number and data and other contents of my graduation project Hanoi, 03rd May, 2017 Student Hoàng Lê Minh II ACKNOWLEDMENT The completion of this thesis could not have been possible without the participation and assistance of so many people whose names may not all be enumerated I would like to express my deepest gratitude for my personal instructor – Ms To Kim Ngoc for her generous support, coaching and companionship during the process of constructing this paper It is my radiant sentiment to place on records my best regards, deepest sense of gratitude to the lecturers of Foreign Languages faculty – Banking Academy for their careful and precious guidance which were extremely valuable for my study both theoretically and practically in the past four years I have learned a lot throughout my education in the academy, with many challenging yet rewarding projects and assignments Thank you for giving me the chance to explore the vast world of the banking industry and become a better version of myself With my limited knowledge and experience on my research matter, it is inevitable that my writing will encounter shortcomings I truly hope to receive feedbacks and corrections of Ms To Kim Ngoc and my teachers It would be a great opportunity to improve myself Student Hoang Le Minh TABLE OF CONTENT LETTER OF DECLARATION I ACKNOWLEDMENT II ABSTRACT III LIST OF TABLES AND FIGURES IV LIST OF ABBREVIATIONS V INTRODUCTION CHAPTER I: THEORETICAL FRAMEWORK OF BANK MARKETING 1.1 The basics of bank and banking activities 1.1.1 Definitions of banks – commercial banks 1.1.2 Services of commercial bank 1.1.3 Inclinations affecting banking activities 1.2 The nature of Marketing in banking operation 1.3 The role and functions of Marketing for the development of banks 1.3.1 The role of Bank Marketing 1.3.2 The functions of Bank Marketing 1.4 The characteristics of Bank Marketing 1.4.1 Bank Marketing is Financial Services Marketing 1.4.2 Bank Marketing is Content Marketing 1.4.3 Bank Marketing is Relationship Marketing 1.5 The operation of Marketing in the banking sector 1.5.1 Researching on the business environment of the banking industry 1.6 Defining Bank Marketing strategy 1.6.1 Types of Bank Marketing strategy 1.6.2 Basic content of a Bank Marketing strategy 1.6.3 Utilize Mixed Marketing 10 1.6.4 Implementing organizations 11 1.6.5 Performance evaluation of bank Marketing 14 CHAPTER II – CURRENT STATE OF BUSINESS PERFORMANCE AND MARKETING OPERATION OF TECHCOMBANK 15 2.1 Overview of Techcombank 15 2.1.1 Formation and development 15 2.1.2 Vision – Missions – Core values 22 2.1.3 Organizational structure 22 2.2 Business performance of Techcombank during 2012-2016 23 2.2.1 Credit operation 23 2.2.2 Other businesses 24 2.2.3 Business results of Techcombank 25 2.3 Facilities & Technological advancements of Techcombank 27 IV 2.3.1 Facilities 27 2.3.2 Technogical advancements 28 2.4 Current situations of Marketing performance of Techcombank 28 2.4.1 Macro marketing environment 28 2.4.2 Micro marketing environment 30 2.4.3 The organization of the Marketing department in Techcombank 31 2.4.4 The mixed Marketing strategy of Techcombank 33 2.4.3 Achievements of the Marketing Department in 2016 55 2.4.4 Strengths & Weaknesses of Marketing operation in Techcombank 56 CHAPTER III: SUGGESTED SOLUTIONS TO MARKETING OPERATION OF TECHCOMBANK 59 3.1 Operation plan of Techcombank 59 3.1.1 Development orientation in 2017 59 3.2 Solutions to Marketing operation 60 3.2.1 Products & Services – Enhance convenience of products 60 3.2.2 Price – Competitive prices to attract prospects 60 3.2.3 Place – Widen the online distribution network & channels in the South 61 3.2.4 People - Construct an advanced system of human resources 62 3.2.5 PR & Event organization – More engagement with media and construction of innovative events 62 3.2.6 Physical evidences – Invest in infrastructure for Marketing operation 63 3.2.7 Improve Customer Development 63 CONCLUSION 65 REFERENCE 66 IV ABSTRACT During the past decade, banking activities have expanded dramatically both in size and sophistication The competition among banks is becoming tougher than ever Therefore, a proper marketing strategy is critical to surviving in this harsh industry Promotion discount, branding, advertisement plan, mobilization products offering high interest and public propagandas, … are frequently applied to banks, and they have achieved certain impacts This trend has proven the importance of Marketing towards the business performance of commercial banks in Vietnam After researching about Techcombank of Vietnam, I have taken a vast majority of knowledge on the Marketing plan of this bank From day-to-day experience and my personal gains, I have chosen the research topic ‘Marketing Operation of Techcombank – Current situations and Solutions’ There are chapters in the research: Chapter 1: Theoretical framework of Marketing in Banking industry Chapter 2: Current state of business performance and Marketing operation of Techcombank Chapter 3: Suggested solutions to improve Marketing activities of Techcombank IV LIST OF TABLES AND FIGURES List of tables Table 2.1: History of Techcombank 15 Table 2.2: Account package for individual clients 33 Table 2.3 Phat Loc and Phat Loc Online interest rate 43 Table 2.4 Online savings interest rate 44 Table 2.5 Fast savings interest rates 45 Table 2.6 Tai Tam – Tai Hien savings interest rates 45 Table 2.7 Upfront Savings Interest rate 46 Table 2.8 An Loc Savings Interest Rates 47 Table 2.9 SuperKid Savings Interest Rates 47 Table 2.10 Saving Interest Rates for Flexible Principal Withdrawal 48 Table 2.11: Comparison on Deposit Rates of Vietnamese Banks (Ordinary Savings) Table 2.12: Term Deposit Interest Rates for Corporate Clients 49 Table 2.13: Deposit Interest Rates of other products for Corporate Clients 50 Table 2.14: Non-term Deposit rates for Corporate Clients 51 Table 2.15: Base Interest Rate for Individual clients and households 52 Table 2.16: Base Interest Rate for Corporate clients 52 50 List of figures Figure 1.1: The modern services of commercial banks Figure 1.2: Distribution network of the banking industry 11 Figure 1.3: Organizational model of banks without Marketing department 12 Figure 1.4: Organizational model of banks having independent Marketing department 12 IV Figure 1.5: Organizational model of the functional Marketing department 13 Figure 1.6: Organizational model of the product Marketing department 13 Figure 1.7: Organizational model of the geographical Marketing department 14 Figure 2.1: The organizational structure of Techcombank 24 Figure 2.2 The organizational structure of Marketing Department in Techcombank 32 List of charts Chart 2.1: The capital operations of Techcombank during 2013-2016 26 Chart 2.2: Quarterly business results of Techcombank in 2016 26 V LIST OF ABBREVIATIONS ACB Asia Commercial Bank ATM Automatic Telling Machine BIDV Bank for Investment and Development of Vietnam ESOP Employee Stock Ownership Plan HCM Ho Chi Minh city HR Human Resources IPO Initial Public Offering M/A Merger and acquisition MB Military Bank NA Not applicable POS Point of Sales PR Public relation ROA Returns on assets ROE Returns on equity SEO Search Engine Optimization SME Small and Medium Enterprises SWIFT Society for Worldwide Interbank Financial Telecommunication USD US Dollar VIP Very Important Person VND Vietnam Dong VP Vice President INTRODUCTION Current problem statement The development of the banking industry contributes greatly and directly to the overall economic growth The enhancements of banking products and services are a must for Vietnamese commercial banks to survive in the transition phase of the national economy Since Vietnam joined in the WTO and multiple Free Trade Agreements, the industry has become a meeting ground of national brands and giants from all over the world, drawing the attention of global investors Though these events marked a milestone for potential growth, they also posed countless challenges for national banks such as scattered market share and fierce competition National banks now must call for new strategies, and one of which is Marketing Apparently, the Marketing operation is one of the most sophisticated business activities that satisfy the needs and wants of clients At present, Marketing has gradually asserted its importance in the business performance of banks in Vietnam Vietnamese banks in general and Techcombank in particular have their own Marketing strategies to compete and expand their market share Owning to the development of the industry and constantly changing demand of consumers, bank Marketing strategy must be constructed and boosted to a higher level As a result, Techcombank must reclaim its competitive position and complete its Marketing approaches to gain more profit Under the guidance and supervision of thesis advisor, Ph.D To Kim Ngoc, I chose the thesis topic: “Marketing operation of Techcombank – Current state and suggested solutions” in order to comprehend the current situations and propose possible enhancements to enhance the quality of Marketing for the development of Techcombank Objectives and research questions 2.1 Objectives The objectives of this study are to: - Study the fundamental theoretical issues of Marketing and Bank Marketing - Understand the tasks and functions of Marketing department - Analyze the effectiveness of Marketing operation in Techcombank - Suggest solutions to improve the quality of Marketing activities in Techcombank 52 measures to ensure the most reasonable interest rates, the output interest rate has increased but still within the limit v Reference Interest Rates: Individual Clients & Households Techcombank’s individual client reference interest rates for VND loans is: 9.25%/year This reference rate is applicable to
loans disbursed from 16 May 2016 Existing loans are subject to reference interest rates of which the adjustment date is the 15th day of every month v Reference Interest Rates: Corporate clients Techcombank’s corporate client reference interest rate for VND loans with short-term matury (6-12 months) is: 11.6%/year, and with medium/long-term loans is: 12.8%/year This reference rate is applicable to
loans disbursed from 16 May 2016 v Base Interest Rates: Individual Clients & Households Techcombank’s base interest rates for individual clients and households published on May 16th 2016 are as follows: Table 2.15: Base Interest Rate for Individual clients and households Effective date: 16th May 2016 Repricing period Monthly Base Interest Rate (%/year) Short- term (Loan tenor ≤ year) Medium term (1 year < Loan tenor ≤ years) Long-term (Loan tenor > years) 6.90 7.65 8.25 v Base Interest Rates: Corporate clients Table 2.16: Base Interest Rate for Corporate clients Effective date: 16th May 2016 VND (%/year) USD (%/year) 53 Original = Term year year < > year = year year < year > year year Repricing Tenor month 7.3 8.1 8.6 2.4 months 7.4 months 7.7 months 7.7 2.8 months 7.8 3.0 months 8.6 3.2 3.6 5.7 3.6 5.7 2.4 8.5 9.1 2.4 2.4.3.3 The distribution channel strategy Techcombank is constantly looking for convenient and crowded locations to set up branches Techcombank is now showing up at nearly all corners, intersections and urban vicinities In 2016, Techcombank opened 50 more new branches nationwide In total, Techcombank has a wide and diversified network of 315 branches and 1229 ATMs equipped with state-of-the-art technology Moreover, clients of Techcombank are also granted access to more than 11,000 ATMs of Smartlink, Banknet and VNBC all over Vietnam In addition, all branches and transaction points of Techcombank are always located in convenient areas with the unique decoration building up the power of the brand Each transaction point has two areas The first one is auto-banking area, and the second section is the transaction section having bank tellers In which, the auto-banking area operates 24/24 The transaction area only operates in office hours and is conveniently located for trading These counters are friendly designed with no glass between customers and employees, thus creating a sense of closeness and trust Customers now can have access to Fast i-Bank to make online card registration, online personal loan registration, transactions, pay bills and services, etc The services have been 54 proven to be extremely beneficial for households to settle bills remotely and for corporates to substantially cut cost of hiring payment collection employees Techcombank is determined that by 2020, the Bank’s system will be fully automatic with all services available online and streaming 2.4.3.4 The human resources strategy From the very beginning, Techcombank has decided that the sustainable strategy of the firm is based on two major pillars namely high-quality human resources and modern technology Particularly, 2015 and 2016 were the two years chosen by the management team of Techcombank as the period of developing human assets Salary & Benefits have been raised greatly on the basis of human resources development The JobCat campaign is still continuing to classify and develop career paths for employees In Techcombank, the salaries and wages of employees rely on the responsibilities and performances of themselves A few policies that Techcombank has applied successfully are as follows: - Techcombank Care: Providing financial support for employees encountering accident, sickness or child labor - JobCat: Designed to give career advices for employees and drive them to the most suitable and desirable career path - ESOP program providing employees to have rights to buy stocks tailored for Techcombank’s workers - Attractive lending rates for Techcombank’s employees to make loan for houses, cars, etc - Annual tours and weekly sport events Techcombank also organizes professional training courses and soft-skill classes for employees On a case-by-case basis, employees may receive a partial scholarship for a master degree of a high-class institution According to the results announced by AC Nielsen and Anphabe on March 22, 2017 in the survey "Best place to work in Vietnam 2016", Techcombank was elected as the TOP 55 Vietnam's Best place to work in the Banking Industry, and ranked 18th in the Top 100 Best Workplaces of Vietnam, 11 ranks higher over 2015 In short, the human resource strategy of Techcombank is to facilitate the success of employees, giving them what they need in life and work The main measurements mainly are ensuring appropriate salary and benefits, stimulating employees to be contributive, creative and hunger for knowledge 2.4.3 Achievements of the Marketing Department in 2016 2.4.3.1 Industry research and insights In 2016, the Marketing department conducted a number of market research and investigation activities, providing information and forming the basis for Techcombank’s strategies and decision-making This includes investigative programs such as brand recognition survey, product survey, and customer satisfaction survey In addition, research to support rebranding campaign and branding development were also successfully deployed The department also collected information on competitors, economic trends and key indicators Moreover, seminars for business and individual clients were frequently founded Online surveys about bank uniform satisfaction, employees’ behaviors and customer behaviors on using savings and card products have provided a great sum of insights for the management staff 2.4.3.2 PR activities and media management In 2016, PR and branding activities were highly concentrated The information on benefits and competitive rates of products are constantly updated and posted online via official websites, online news, newspaper and broadcasting These means serve as great tools for Techcombank to approach prospects and advertise the images of the bank nationwide The shareholders of Techcombank are able to timely read news on operation of the bank directly through the website and the shareholders’ meeting, thereby aiding them to make correct decisions and performing their rights as well as responsibilities Internal PR was fully exploited to inform workers of recent programs, campaigns and newly-emerging services & products 56 The information on the website is constantly updated and transparent In 2016, over 20 million visitors have surfed the website of Techcombank, prooving that it is an important channel for customers 2.4.3.3 Marketing events and promotional designs 2016 marked the mile stone of customer-relation activities and Marketing campaigns for Techcombank Various events were founded to inform prospects and existing clients of the benefits and discounts when they use Techcombank’s products Moreover, Techcombank also operates Marketing events not only to inform clients but rather to engage them A series of events namely ‘Unique Lifestyle’ directly targeted the high-end clients with luxurious lifestyle Techcombank invited experts on nutrition & health care to these events to give advices for customers, thus creating great sum of value added for customers With the vision to bring well-rounded products and tailored-made financial investment packages for customers, Techcombank Marketing department truly performed great services by bringing desirable added value for customers 2.4.4 Strengths & Weaknesses of Marketing operation in Techcombank 2.4.4.1 Strengths • Techcombank is one of a few prestigious brands, thus reducing the workload of Marketing department to polish the brand • Products and services on credit, foreign exchange and international payment are fairly competitive over other banks, giving the Marketing activities the pillars to work on • The distribution network and market share are relatively good in Hanoi and Da Nang and increasingly widened in the South • Young and energetic employees with solid education ground and high level of English • Rapidly growing chartered capital stimulates the credibility of the Techcombank as well as serves as foundation to expand business and operational scale Thanks to strong financial status, even encountering economic downturns, Techcombank has always been a trusted partner of its clients • Techcombank has remained the no.1 retail bank in Vietnam Retail products of Techcombank are diverse, safe and convenient 57 • Technological development is always effectively tapped Newly-emerging tools such as social networks, vial videos are basically used by Marketing department • Customer service is now paid more attention than before, creating the friendly overall impression for clients 2.4.4.2 Weaknesses • Products & Services: o Services and products are not yet synchronized o Services and products are basically similar to other banks No differentiation o The Marketing budget is significantly diluted to too many products, thus not being able to invest in vital schemes • Place: o The distribution network of Techcombank is less dense than other brands in the South, thus lowering competitive leverage o Customer base is thin and risky • Promotion: o The Marketing budget is significantly diluted to too many products, thus not being able to invest in vital schemes o Marketing events are scarce Only to outstanding events annually Most of them still lacked creativity, innovation and organization • People: o The Marketing expertise of the system is still weak, requiring much more updates and education for the staff o Marketing department has few staffs being unable to handle heavy workload • Process: o The operational and managerial processes are still time-consuming compared to the standard of modern banking industry • Physical evidence: o The infrastructure of the whole system is not strong compared to other banks, especially big competitors such as Vietcombank or Vietinbank 58 o Though the distribution network is dense Evidences show that only few brands paid attention to POS designing and Marketing materials 59 CHAPTER III: SUGGESTED SOLUTIONS TO MARKETING OPERATION OF TECHCOMBANK 3.1 Operation plan of Techcombank 3.1.1 Development orientation in 2017 The annual stakeholders’ meeting in 2016 came to a decision of development orientation in 2017, in which stated that all profit in 2016 will be concentrated and contributed to the sustainable development plan of Techcombank The chartered capital of Techcombank will be raised by IPO during the future phase The main targets of Techcombank until the end of 2017 are as following: • Outstanding loans value will rise to VND 181,067 billion, 16% growth The ratios of credit group and will be lower than 2% if combined • Total mobilization value is going to be VND 227.133 billion, 31% growth • Target for profit before tax is expected to be VND 5,020 billion, 26% growth • Total assets will be VND 279,017 billion, 19% growth • ROA and ROE at the end of 2018 will be 1.65% and 18.22% respectively • The revenue structure still bases on net interest income (approximately 75-77%), with the transition of revenue structure to fee income, from 13% to 19% • Fully comply with the new set of adequacy ratios in banking operation Techcombank set a higher standard with the center statement ‘Customers are the hearts of success’ Techcombank is determined to serve clients with the best and well-rounded financial solutions & products, becoming the leading domestic bank and competing with global brands worldwide In 2017, with the transition of revenue structure to fee income, Techcombank plans to reduce the credit risk of excessive reliance on outstanding credit The highlight of customer segment is SMEs and USMES because Techcombank wants to facilitate the overall economic performance of Vietnam Moreover, Techcombank has already been entitled with great performance in the SMEs segment with the variety and quality of its products 60 3.2 Solutions to Marketing operation 3.2.1 Products & Services – Enhance convenience of products It is without a doubt that Techcombank has demonstrated its effort in developing and transforming products for extensive ranges of clients However, more production line can be introduced into the market that fit the market segment of Techcombank Currently, Techcombank heads for young and successful individuals having demand for banking products and understand the benefits of using financial solutions While three major products namely auto loan, home loan and education loan have been successfully provided, two main line-stream services namely travel loan or marriage loan are now absent from the services offered by Techcombank Putting Vietnamese culture into consideration, there are high demand for these packages as many Vietnamese youngsters now are willing to utilize personal finance packages for marriage and travel purposes for life improvement and security Moreover, these packages perfectly suit the Marketing strategy and segmented market of Techcombank Simultaneously, with the development of societies, more financial solutions and packages have been suggested Payment service via social networks, transfer via cellphone, ATM services without cards and automatic bill settlement are a few of those innovations The main enhancement is to reduce the complexity and time for consumers as well as improve convenience and transparency These products require an extensive connection between the bank and the third parties such as media corporate or electricity suppliers In other words, Techcombank is required to construct a better network and technological base, especially in the field of IT management and technological services 3.2.2 Price – Competitive prices to attract prospects 3.2.2.1 Targets: - Attracting more prospects such as medium-earning households and individual clients, students, large SMEs of different industries - Retaining existing clients by promotions and favorable discounts as well as attractive rates - Saving large amount of fee such as non-charge automatic payment, low-cost interbank cards or free-of-charge services - Earning more profit without hurting the consumer confidence and trust 61 3.2.2.2 Action plans: Designing a more attractive plan for customers especially when now the economy is stable and bank clients are very interest-sensitive This scheme is very effective with households and individual clients With corporate customers, the mobilization coming from this source of channel is abundant, and the rate is comparatively low compared to other mobilization channels Therefore, the Bank should utilize the idle capital for investment and payment The interest rate should be renewed and supervised timely The base interest rate and reference interest rate have not been altered since May 2016, which proves that the strategy is balanced and stabilized, and there has been none dramatic change in the movement of the market For SMEs, they have large demand for loans and financial solution products This is a perfect market for Techcombank to provide incentive loans for prospects under proper supervision The rates of SMEs products are fairly appealing, especially to suppliers and merchants of conglomerates in Vietnam, namely Cotecon, Vinamilk, etc However, the rates applied for underprivileged SMEs are still challenging 3.2.3 Place – Widen the online distribution network & channels in the South The distribution network of Techcombank is still weak in the South area Ho Chi Minh city is also now expanding, with the development of newly-emerging vicinities Therefore, the demand for loans and financial solutions is uprising This is a perfect chance for Techcombank to jump in and take over the market share The TSO serves as the connection points between Techcombank and customers, thus reshaping the view and consumer desire at the appointed territory It is crucial that Techcombank engage with the prospects at those areas before its competitors The development plan in 2017 is to construct at least 200 more connection points in Hanoi, Ho Chi Minh city, Hai Phong, Da Nang and other economic centers in Vietnam Internet Banking is the highlight of this plan The branch network and ATM system are operating through the e-bank system, which is in need of standardization for enhanced operation The online channel is an important channel with over 20 million users of Internet Banking and Home Banking The advantages of online banking are the limitless of time and space, constant access for clients and affordability 62 3.2.4 People - Construct an advanced system of human resources In 2016, Techcombank has done a great job in recruiting talents nationwide with various campaigns such as Management Trainee, Job Fairs, etc The internal system is also stimulated by Job Cat and Techcombank Talent Pool programs In other words, Techcombank has realized the importance of human resources, especially in the banking industry where products can be copied easily, but the employees stay as the unique assets of the firm However, the Marketing department needs more talents The Marketing tools and techniques worldwide are being revolutionized with the emerge of viral videos, social networks, and SEO Therefore, the Marketing optimization requires fresher and more creative talents for Techcombank to fully utilize the potential of the Marketing world The Marketing department should organize courses to train the staff of the new techniques as well as information on the segments of market With the expertise of knowledge over consumer insights and trends of the banking market, the Marketing department of Techcombank can work together to have more innovative action plans to draw more attention of the crowd Parallel to the training of staff, Techcombank should enhance the remuneration policy This encourages employees to dedicate themselves to Techcombank and also aims to harmonize the interests of shareholders, banks and employees Currently, Techcombank's compensation mechanism is relatively satisfying to its employees The salaries are considered competitive in the market, and the bonuses are not fixed and dependent on the performance of each individual The bank also provided funds for training, discounted credit programs, and ESOP entitled for employees However, the remuneration policy should frequently be adjusted to the general satisfactory level of the market to ensure that the hard-earned talents stay with Techcombank 3.2.5 PR & Event organization – More engagement with media and construction of innovative events Existing organizations are dependent on their customers Therefore, in order to survive and thrive, banks are required to understand the needs and wants of customers Techcombank has four types of target customers: residential customers, SMEs, large enterprises, financial institutions For each type, Techcombank has a different strategy 63 One of the most highlighted problems of Techcombank’s campaigns is their popularity The bank should co-operate with PR agencies or online news website to spread the words about upcoming promotions and events A suggested solution is to hire services of high-traffic online websites that are specialized in economic and banking news such as cafef.vn, vnexpress.net, vietstock.vn, thoibaonganhang.vn, vietnamnet.vn, etc These are news sites having over dozens of thousands of visitors daily Thus, if the online PR tool can be tapped correctly, the campaigns of Techcombank can engage with a great deal more of clients The events of Techcombank still lack meaningful impact on the society, and most importantly, the targeted segment For example, if Techcombank is targeting the young and successful, more efforts should be put into building an image of satisfactory and high-class products, which are suitable for those in need of recognition 3.2.6 Physical evidences – Invest in infrastructure for Marketing operation First of all, branches of Techcombank should employ more Marketing activities such as sight advertisement, ATMs with appealing decoration While Vietinbank has done wonderfully in branding and designing the image of the bank Its image is not truly common with the South and Central clients This problem can be easily sorted out by investment on POS materials and designation The staffs must be employed with appropriate technological base and updated firmware and software to serve the customers timely Moreover, Marketing department must have updated tools for Marketing and data mining This requires the Bank to be extremely efficient in facility management and thoughtful in the preparation of Marketing infrastructure for the most promising performance 3.2.7 Improve Customer Development With the advancement of technological base, it is suggested that Techcombank should deploy a full automatic system of customer relation Frequently, customers using hotline and customer services are in trouble of payment disconnection / malfunction, stolen card or dissatisfaction of services Most of those can be dealt with easily without the cost of hiring a system of staff operating days and nights Moreover, in most situations, clients require prompt and correct response from the bank, which is demanding for a system of overlap human resources Another improvement that Techcombank can adopt is to set up annual / monthly meetings for customers and key accounts to socialize and express their desire and questions for 64 the Bank It is not only a perfect chance for Techcombank to connect with the most important clients but also to carry out trust-worthy surveys on the satisfaction of key accounts 65 CONCLUSION Marketing operation has always been regarded a critical aspect for the success of every business, especially in segmented and highly competitive markets Evidently, Vietnamese banks have been paying attention to complete and enhance Marketing activities to better serve the customers and make their brands recognizable In order to gain more profit and gain competitive position, Techcombank should put constant efforts to enhance the quality of Marketing operation, aiming at taking over more market share and understand consumer behavior The past few years have seen a dramatic growth in Techcombank’s business performance and the completion of products offered by the Bank One of the contributors must be Marketing However, there are still drawbacks that the Marketing department has not yet been able to tackle Features and utilities of Marketing operation are not able to fully optimize the competition level Advertising campaigns are not implemented carefully and comprehensively With the hope of contributing to the development of Marketing at Techcombank, the author presented and proposed several measures The author desires to get feedbacks from teachers to better the thesis 66 REFERENCE Techcombank (2012, 2013, 2014, 2015, 2016) The Annual reports Kenneth Andrew (1986) The Bank Marketing hand book Crosby, L A (1990) Relationship Quality in Service Karim newrian, A C (1996) Service Quality Banking: The Experience of Tow British International Journal of Bank Marketing, 15-30.
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