(Tiểu luận) marketing mix strategyof global entrepreneur productat aiesec vietnam company limited

Trang 1 FOREIGN TRADE UNIVERSITYHO CHI MINH CITY CAMPUS---***---INTERNSHIP REPORTMajor: International Business EconomicsMARKETING MIX STRATEGYOF GLOBAL ENTREPRENEUR PRODUCTAT AIESEC VIET

FOREIGN TRADE UNIVERSITY

HO CHI MINH CITY CAMPUS

-*** -INTERNSHIP REPORT

Major: International Business Economics

MARKETING MIX STRATEGY

OF GLOBAL ENTREPRENEUR PRODUCT

AT AIESEC VIETNAM COMPANY LIMITED

Student : Đinh Nho Lam TuyÁn

Ho Chi Minh City, July2022

FOREIGN TRADE UNIVERSITY

HO CHI MINH CITY CAMPUS

-*** -INTERNSHIP REPORT

Major: Business Administration

MARKETING MIX STRATEGY

OF GLOBAL ENTREPRENEUR PRODUCT

AT AIESEC VIETNAM COMPANY LIMITED

Student : Đinh Nho Lam TuyÁn

Ho Chi Minh City, July 2022

FOREIGN TRADE

UNIVERSITY

HO CHI MINH CITY CAMPUS

SOCIALIST REPUBLIC OF VIETNAMIndependence - Freedom - Happiness

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STATEMENT OF AUTHORSHIPExcept where reference is made in the text of the thesis, this thesis contains nomaterial published elsewhere or extracted in whole or in part from a thesis by which Ihave qualified for or been awarded another degree or diploma.

No other person’s work has been used without due acknowledgements in thethesis

This thesis has not been submitted for the award of any degree or diploma inany other tertiary institution

Ho Chi Minh City, August 2021

Đinh Nho Lam Tuyền

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TABLE OF CONTENTSSTATEMENT OF AUTHORSHIP

CHAPTER 2: MARKETING MIX STRATEGY FOR PRODUCT GLOBAL

2.1 Analysis of Marketing Mix Strategy for product Global Entrepreneur 62.1.1 Analysis of product factor in Marketing Mix of Global Entrepreneur 62.1.2 Analysis of Place factor in Marketing Mix strategy for product Global

CHAPTER 3: REVIEW OF INTERNSHIP PROGRAM AT AIESEC VIETNAM

3.1 The personal experience acquired through the internship 143.2 Recommendation for future marketing mix strategy of Global Entrepreneur product15

ABBREVIATIONSAIESEC Vietnam Company Limited : AIESEC Vietnam Co., Ltd.

LIST OF FIGURESFigures:

Chart 1.1 Organizational structure of AIESEC Vietnam Co., Ltd Error! Bookmarknot defined

PREFACESHow undergraduates and postgraduates may improve their employability whenartificial intelligence replaces them is a major concern as the world enters the FourthIndustrial Revolution In addition, as the globe continues to flatter, there is tremendousinternational rivalry among young people to choose a long-term professional path thatwill be respectable The young people in Vietnam need to discover new possibilities togrow and equip themselves as high skill workers, as education there is stillacademic-focused and slowly updated.

AIESEC Vietnam Firm Limited has introduced a product called GlobalEntrepreneur that enables young people aged 18 to 30 to travel overseas for aninternship working at a startup company in response to this enormous demand Theauthor believes that Global Entrepreneur is highly relevant to and aligned with thepresent societal environment both as an intern and as an undergraduate As a result, theauthor ultimately decided to pursue study on this subject <Marketing Mix Strategyfor product Global Entrepreneur at AIESEC Vietnam Company Limited= forinternship report The layout of the internship report consists of three main chapters:Chapter 1: Introduction about AIESEC Vietnam Co., Ltd

Chapter 2: Marketing Mix Strategy for product Global EntrepreneurChapter 3: Review of internship program at AIESEC Vietnam Co., Ltd.During the internship and the completion of the report, the author has received alot of support, enthusiastic guidance and dedication from all employees at AIESECVietnam Co., Ltd and instructors at Foreign Trade University Ho Chi Minh CityCampus However, due to limited personal knowledge and limited time, the report maynot reflect all aspects of the topic and still has certain limitations The author is lookingforward to receiving comments from supervisors and instructors so that the report can

be more completed

Ho Chi Minh City, July 2022

Đinh Nho Lam Tuyền

1 CHAPTER 1: INTRODUCTION ABOUT AIESEC VIETNAM COMPANY

LIMITED1.1 Background information

1.1.1 Establishment History

After the Second World War, seven young men from seven different nationscame together to form AIESEC with the goal of fostering intercultural understandingand leadership development via volunteerism and internship exchange Initiallysituated in Rotterdam, Netherlands, AIESEC's headquarters moved to Canada in 2018AIESEC will have more than 44,000 members and be active in 126 countriesand territories by the end of February 2020 The headquarters of AIESEC are inMontreal, Canada

Two AIESEC members from Japan traveled to Vietnam in 2005 with the aim offounding AIESEC there They made the decision to finance the initial three years ofinvestment AIESEC was founded in Vietnam in 2006, with the first branch located in

Ho Chi Minh City AIESEC operated under the sponsorship of Youth Vision TalentSolutions Company Limited in compliance with Vietnamese law

AIESEC Vietnam Social Company Limited was able to alter its name in 2019after receiving official certification as a social enterprise

1.1.2 Basic information

Name of organization: AIESEC VIETNAM SOCIAL COMPANY LIMITEDShort name: AIESEC VIETNAM SOCIAL CO., LTD

Website: https://aiesec.org/

Head office: No.16, Dang Tat Street, Tan Dinh Ward, District 1, Ho

Chi Minh CityRegistered categories: 7810: Activities of centers, consulting agencies,

introduction and brokerage for labor and employment7830: Supply and management of labor resources 8560:Educational support services

1.1.3 Organizational structure

The organizational structure of AIESEC Vietnam Social Company Limited issimple with main control held by Board of Directors The management body ofbranches has Branch Managers and Branch Deputy Managers According to thecompany’s routine, Deputy Directors have regular brand visit schedule when they go tobranches to supervise operation and provide feedback for Brand Managers and BranchDeputy Managers on how to ameliorate operational efficiency Board of Directors andBranch Management Body also have quarterly meetings in the headquarters in Ho ChiMinh city or Hanoi to review company situation and strategy for timely and suitableadjustment

Chart 1.1 Organizational structure of AIESEC Vietnam Co., Ltd

(Source: Human Resource Department)

Global Volunteer, Global Entrepreneur, and Global Talent are the three companyproducts that the Product Department is in charge of managing and ensuring the quality

of In order to create and tweak business plans that satisfy client expectations, theProduct Department closely collaborates with the Sales Department To determinepricing and keep an eye on sales, expenses, and profits, the Product Departmentcollaborates closely with the Accounting Department

1.1.4 Business line

AIESEC Vietnam Social Company Limited specializes in human resource andeducational services All products of the company aim for youth leadershipdevelopment and positive impact on not only the economy but also the society of anation

1.1.5 Business outcome

The financial year in AIESEC Vietnam is taken from August of the previousyear and lasts until the end of July of this year For example, the value 2022 iscalculated from August 1, 2021 to July 31, 2022

Table 1.1 Revenue, cost and profit situation of AIESEC Vietnam Co., Ltd from

Revenue dropped by 3% and profit fell by 20% from 2017 and 2018 Thisdecline is the result of the company having to cease operations in the final two months

of 2017 owing to issues with the business license

In the period of 2018 - 2019, the revenue and profit of the company increasedsignificantly This is because of the company's change in structure to have deputydirectors to focus on different markets for startup companies and small mediumcompanies and invest more talents in each department

In 2020 and the first six months of 2021, the company’s revenue and profitseriously decreased due to the border closure to avoid possible spread of COVID-19

In 2021, we have some strategies to improve the context

1.2 Description of internship duties

Week 1: After passing the interview and getting hired by AIESEC Vietnam Co.,Ltd to work as an office intern in the product department, I was required to go through

an onboarding plan from the human resources department On the first day of work,

Ms Diep Hong Vy from the human resources division made a presentation at the mainoffice on the background of the business, its structure, and other jobs Then, Mr PhamQuang Vinh, Global Entrepreneur's product manager and my direct boss, arranged aquick meeting to go over the nature of the company, our products, and the policies andrequirements of the establishment I wanted to start working for this company because

of their generous welcome and astounding amount of support

Week 2 & 3: I was tasked with organizing the logistics and meeting materialsfor our weekly department meetings In addition, Mr Quang Vinh requested me toaccept client calls and provide product feature advice while I was on the phone I hadthe opportunity to learn more about value propositions and client personas duringdowntime thanks to the company's learning hub

Week 4: Mr Quang Vinh asked me to build up a survey asking customers howsatisfied they are with the product and how they feel about the personnel in order to getdata for our product I kept working as a telemarketer and developed the skillsnecessary to complete the service contract and provide it to the deputy director This

week I've learned more about consumer insight and have a better understanding of howthe product department works and how it interacts with other corporate areas.Week 5: In light of the fact that this is my last week of employment with thecompany, Mr Quang Vinh set up a meeting to discuss my performance and get hisfeedback I also request the data I require to complete the report The deputy director,Nguyen Thi Thanh Thao, looked over my report, made some suggestions, and thenapproved it.

2 CHAPTER 2: MARKETING MIX STRATEGY FOR PRODUCT GLOBALENTREPRENEUR AT AIESEC VIETNAM COMPANY LIMITED2.1 Analysis of Marketing Mix Strategy for product Global Entrepreneur

2.1.1 Analysis of product factor in Marketing Mix of Global Entrepreneur

2.1.1.1 The unique value of product Global Entrepreneur

Product Global Entrepreneur came into being as a solution to accommodate theburning needs of human resource as a result of the strong startups movement in theworld As the entrepreneurship spirit rises higher and higher, startups are looking fortalent from abroad as a method to increase their competitiveness

Based on an internal market analysis in 2017, AIESEC Vietnam SocialCompany Limited recognized the potential of product Global Entrepreneur inproviding an effective solution to the needs of the current market

Global opportunity: Global Entrepreneur allows participants to take theirprofessional and life experiences to the next level by exposing themselves to a wholenew culture and challenging environment, as they live their internship in a completelyforeign society Such an experience forces young people to learn how to adapt in amulticultural environment and stand out

Experience entrepreneur world: Learn from entrepreneurs how to grow thebusiness and operations The intern gets a chance to gain valuable knowledge to openyour venture or be a part of a startup

Build and grow the network: The opportunity to do an internship abroadenables participants to take advantage of the numerous chances to expand theirprofessional networks, which will aid them in their own future business pursuits It iswithout a doubt the ideal chance for young people to meet with professionals andspecialists from many fields who will help them in the future

Develop yourself: Participants can achieve personal growth and development

by going through practical experiences and learning-by-doing An intensecross-cultural environment allows them to increase their self-awareness and solution

orientation, improve communication skills and develop a global mindset As a result,they are eventually able to become the best version of themselves.

2.1.1.2 Service of product Global Entrepreneur

AIESEC Vietnam started by emphasizing the benefit of the solution the product offersbefore examining the market's rivals It is difficult to make a product stand out and bevaluable to consumers at its core as more and more goods and services are developed

to meet the demands of learning and development of young Vietnamese AIESECVietnam undertook a market research in the middle of 2017 in order to break into themarket

Table 2.1Analysis of existing competitors in Vietnam market

Service/ Product

(with feature)

Advantage DisadvantageInternship

− Offer salary: depending

on the feature ofcompanies/startups,ranging from 1-5 millionVND

− Lack of international

element: in terms ofcommunication,working cultureInternship

connection via third

party

− Diversity in terms ofsector

− Limited access becausethese opportunities arewidely reached

− No third party to ensurethe quality of internshipFrom the above result, AIESEC Vietnam Social Company Limited hasinnovated the product to customize suitably with the Vietnam market

CV scanning: Interns who have interest in the product will have their CVsscanned, feedbacked and consulted by AIESEC Vietnam This step aims to helpparticipants find the most fitted position or country to their career orientation andexperience desire

Clear and unified customer flow: This is done to make sure that no matterwhatever AIESEC brand a client interacts with, they will receive the same level ofcustomer care In order to provide our customers with the maximum convenience,AIESEC Vietnam adapts the customer flow to our typical cultural practices

Exchange standards: When an intern is "authorized," it indicates they havebeen given the go-ahead to work for a foreign start-up From this point forward,AIESEC Vietnam will supply "standards," which can be interpreted as sub-services, tosupport and ensure a secure and easy experience These might include a lecture toinform attendees about the culture of the nation they will visit or visa assistance Fromthe time interns are "authorized" until they return to Vietnam after completing theirinternship, the "standards" are supplied

Image 2.1 AIESEC Exchange Standards to ensure quality of internship

experience