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Pick me girl Group Assignment IMC Plan of Fulbright University Viet Nam Lecturer: Dư Tiểu Dương Group: Pick me girl Nguyễn Thị Cẩm Yến Nguyễn Thị Thu Hồng Đoàn Quốc Nhật Chung Anh Hào IMC Plan of Fulbright University Viet Nam download by : skknchat@gmail.com Pick me girl Table of Contents Executive Summary General Introduction Situation Analysis Market Analysis Market Environment (PEST Analysis) Consumer Analysis Competitor Analysis SWOT Analysis Strengths Weaknesses Opportunities Integrated Marketing Communications Plan Marketing Strategies Target Audience 10 Overall Communication Objectives 11 Overall Creative Strategy 13 Media Strategies 14 Creative Executions 17 Activity Schedule 19 Proposed Budget 20 Cost of digital content production 20 Digital advertising costs 21 Cost of inviting KOLs 21 “Speak yourslef” Fund 21 Expectations and key results after IMC plan execution 22 Exhibits 22 Reference 28 IMC Plan of Fulbright University Viet Nam download by : skknchat@gmail.com 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group.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.nam Pick me girl Executive Summary Right before Vietnam and the US normalized relations in 1995, since 1994 with the cooperation between the University of Economics Ho Chi Minh City and Harvard Kennedy School (Havard University) Fulbright Economics Teaching Program (FETP, now the Fulbright School of Public Policy and Management) of the Vietnam Program at Harvard University After 20 years of existence, Fulbright School was upgraded to Fulbright University, which was seen as a testament to the extensive development of the Vietnam-US relationship For the first time, the concept of Fulbright University Vietnam was mentioned in the Joint Statement of Vietnamese President Truong Tan Sang and US President Barack Obama on July 25, 2013 In June 2014, the established policy of Fulbright University Vietnam was approved by the Government of Vietnam In July 2015, during the visit of General Secretary Nguyen Phu Trong to the US, Fulbright University received an investment certificate from Ho Chi Minh City to be built on 15 hectares of land in the high-tech park of Ho Chi Minh City On May 16, 2016, the school establishment license was officially signed General Introduction Right before Vietnam and the US normalized relations in 1995, since 1994 with the cooperation between the University of Economics Ho Chi Minh City and Harvard Kennedy School (Havard University) Fulbright Economics Teaching Program (FETP, now the Fulbright School of Public Policy and Management) of the Vietnam Program at Harvard University After 20 years of existence, Fulbright School was upgraded to Fulbright University, which was seen as a testament to the extensive development of the Vietnam-US relationship For the first time, the concept of Fulbright University Vietnam was mentioned in the Joint Statement of Vietnamese President Truong Tan Sang and US President Barack Obama on July 25, 2013 In June 2014, the established policy of Fulbright University Vietnam was approved by the Government of Vietnam In July 2015, during the visit of General Secretary Nguyen Phu Trong to the US, Fulbright University received an investment certificate from Ho Chi Minh City to be built on 15 hectares of land in the high-tech park of Ho Chi Minh City On May 16, 2016, the school establishment license was officially signed Situation Analysis Market Analysis The private education market for Vietnamese students has a compound growth rate of 11% in 2016-2020 and is forecasted to continue to multiply in the coming period Notably, in 2020, the private education market in Ho Chi Minh City is estimated to reach about VND 15,200 billion (Thảo Anh, 2021) As an independent university with 100% foreign investment under the sponsorship of the US Government and operating not for profit, Fulbright University aims at liberal arts IMC Plan of Fulbright University Viet Nam download by : skknchat@gmail.com 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diverse, with a mixed structure of ethnicities, professions, socio-economic backgrounds, and genders The FUV goal is to become the first choice of students in Vietnam On the other hand, if students have the ability, but their family circumstances not allow them to study at FUV, they can still attend Fulbright with the wall's financial aid program Carrying out the mission of "Redefining the University" Fulbright does not specialize in training in one field but orients education under the multidisciplinary lens of the liberal education model This model is suitable for students who are unsure which field they are interested in and want to spend time at university discovering themselves, building a comprehensive knowledge base in many fields, and practicing their skills to self-study Otherwise, those who already know what they are interested in studying can also learn about that field under a multidisciplinary lens in projects Market Environment (PEST Analysis) Political With the current political stability as well as the backing of both the Vietnamese and US governments, Fulbright will have no problems in policy and legal issues Economics • The domestic private education market has a compound growth rate of 11% in 2016-2020 and is forecasted to continue to grow rapidly in the coming period • Fulbright University Vietnam is an independent university with 100% foreign investment under the sponsorship of the US Government, operating not for profit • The total investment of Fulbright University is expected to be about 70 million USD (Thanh Tuấn, 2015) In the first phase, the school's operating budget was mainly based on US$ 17 million in aid's US government Social • The institutional novelty and the liberal education model itself in Asia is also an obstacle related to sustainability However, within Asia, liberal arts institutions are increasing dramatically, leading to inter-regional cooperation • Unlike the West, we Asians are still obsessed with graduate employability and the constant discussion about the practicality of degrees (Fulbright, 2019) Technological • Fulbright University was built on an area of 15 hectares in Saigon Hi-Tech Park with a system of modern imported equipment (Fulbright, 2018) • Educational technology places a great deal of emphasis on investing in Vietnamese teaching staff and curricula During the first 15 years, these two school centers have received support and transfer of experience from Harvard University with the most rigorous academic standards From this foundation, FSPPM is IMC Plan of Fulbright University Viet Nam download by : skknchat@gmail.com 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gaining international accreditation, standing among the top public policy schools in the region Consumer Analysis • Fulbright University's customers are Asian families with innovative, nontraditional thinking characteristics FUV does not require a high income because there is a financial support policy • Fulbright University students aged 16-28 are often unsure what field they are interested in and want to spend their time in college discovering themselves to build a foundation of knowledge For example, comprehensive expertise in many fields, practice skills to self-study and change jobs in the future, or students already know which field they like to study and want to learn about that field under a multidisciplinary lens according to their needs form of projects In addition, students who have finished their undergraduate programs and want to experience the international environment can still study Fulbright under the graduate system Competitor Analysis In Vietnam, only two universities, Fulbright University and Vietnam Japan University (VJU) under the Vietnam National University, Hanoi, have declared to uphold the liberal spirit and apply the model liberal higher education It can be seen that the competition of this model in the Vietnam market and Asia is not high However, it seems that the future of the liberal arts higher education model has not been clearly defined, and there are still many difficulties in its implementation and facing the overwhelming competition of the traditional education model SWOT Analysis Strengths • Be one of the few universities in Vietnam that teaches liberal arts, providing knowledge and life skills to help students prepare for the future • There are many financial support policies for many students with different conditions Weaknesses • Tuition fees are pretty high compared to other universities in Vietnam Meanwhile, the living standards and economic conditions in Vietnam are not so outstanding Therefore, tuition fees will be one of the problematic conditions hindering the opportunity for many students who want to access education from Fulbright • The educational method is still strange, and the brand awareness of Fulbright is still not high in the Vietnamese education market Opportunities • • More and more people are interested in liberal arts education Many people like to study in an international environment in Vietnam IMC Plan of Fulbright University Viet Nam download by : skknchat@gmail.com 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group.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.nam Pick me girl • Liberal education environment is being widely developed in Asia, creating many conditions for Fulbright to develop and have opportunities for cooperation between countries Threats • Liberal education has not been popularized in Vietnam, so Fulbright will face many difficulties implementing and developing this model • Distinct individualism • The cost of hiring teachers in Vietnam is expensive, and professional, highly qualified teachers are scarce • There are some competitors that also have a student-friendly international education environment and apply liberal arts Integrated Marketing Communications Plan Marketing Objectives For Fulbright VN to successfully compete in the higher education industry, we need to strengthen our marketing communications to demonstrate our competitive advantages, build and nurture credibility among our customers, and simultaneously increase interaction and communication between the target audience and the brand Unlike the existing marketing communications plan, this IMC plan proposes various methods to enhance communication This plan follows the Information Processing Model to address the problems Fulbright is currently facing The big picture for this IMC plan is to penetrate the Vietnamese market and position the brand and promote the brand in the higher education industry in Vietnam To this end, our goals must focus on gaining a larger market share and increasing consumer loyalty among potential and current Fulbright customers The main objective that must be achieved to accomplish these goals is to establish a brand image for the students and the reputation of Fulbright The perceived primacy of the Fulbright brand in liberal arts is a competitive advantage that can be leveraged through market penetration efforts IMC Plan of Fulbright University Viet Nam download by : skknchat@gmail.com 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• • • • The campaign reaches over million people TVC views on Youtube are over 500,000 views TVC views on Facebook over million views Rating Point on news reports reached 8-9 point Campaign participation reached billion donations Enrollment rates are up 80% from last year Exhibits IMC Plan of Fulbright University Viet Nam download by : skknchat@gmail.com 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skknchat@gmail.com group.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.nam group.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.nam Pick me girl Reference Anh, T (2021, August 16) Ngành Giáo Dục tư thục: Thị Trường hấp dẫn Trị Giá Hàng tỷ USD, Tăng Trưởng Bất Chấp covid-19 VỚI CAGR lên đến 11%/NĂM Retrieved October 28, 2021, from https://cafef.vn/nganh-giao-duc-tu-thuc-thi-truong-hap-dan-tri-gia-hang-ty-usd-tangtruong-bat-chap-covid-19-voi-cagr-len-den-11-nam-20210815103103827.chn H?, L (n.d.) Giáo Dục - đại Học Retrieved October 28, 2021, from https://www.vanlanguni.edu.vn/giao-duc-dai-hoc-2/1021-giao-duc-khai-phong-xu-huongdao-tao-dai-hoc-moi-cho-vietnam#:~:text=Th%E1%BB%9Di%20%C4%91i%E1%BB%83m%20n%C3%A0y%2C%20t%E1%BA %A1i%20Vi%E1%BB%87t,%C4%91%E1%BA%A1i%20h%E1%BB%8Dc%20%C4%91i%20ti%C3 %AAn%20phong Khuôn Viên đại Học Fulbright Việt Nam quận (2019, October 04) Retrieved October 28, 2021, from https://fulbright.edu.vn/vi/khuon-vien-dai-hoc-fulbright-viet-nam-tai-quan7/ IMC Plan of Fulbright University Viet Nam download by : skknchat@gmail.com group.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.nam group.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.namgroup.assignment.imc.plan.of.fulbright.university.viet.nam