14 CHAPTER TWO: CURRENT SITUATION OF MARKETING ACTIVITIES AT TOPONE TRADING AND TRANSLATION COMPANY LIMITED .... In this research report, I would give some analysis on the current situat
Rationale of the report
The marketing mix is one of the most popular theoretical frameworks in marketing and has been used by enterprises to make marketing decisions and other decisions more effectively According to the strategy adopted by the senior management to achieve long-term goals and objectives, the enterprise regards each element of the marketing mix as the source of competitive advantage
The potential contribution of marketing to gaining competitive advantages has been recognized by the management of many successful enterprises, so more attention has been paid to this specific business area than ever before (Egan, 2007) Therefore, nowadays, most marketing-related concepts, such as marketing mix, product life cycle, PEST, and SWOT analysis, Porter's five forces, value chain analysis, etc., have received more attention than ever before These marketing concepts are being found in more and more enterprises and their practical application is being found
Mixed marketing or 4Ps can be marked as one of the basic concepts of marketing and focus on four aspects of business activities: products, prices, promotions, and locations (Klein, 2007) The actual application of enterprise marketing mix varies with a series of factors such as scale, selected management strategy, geographical location, competitive advantage, etc
Kumar (2010) pointed out that mixed marketing is a term used to describe the combination of methods used by an enterprise to achieve its goals by effectively pushing its products and services to specific audience groups
Bootwala et al (2009) cited Philip Kotler's definition of a marketing mix, according to which "a marketing mix is a set of controllable variables used by a company to influence the target market and their extent" (Bootwala et al., 2009, p 3.1)
In the current marketing economy, if businesses want to survive and develop, the application of Marketing policy is very important In this research report, I would give some analysis on the current situation of marketing activities, thereby propose some solutions to promote marketing activities of Topone Trading and Translation Company Limited This will show a part of how I perceive myself with research issues
After doing an internship at Topone Trading and Translation Company Limited, I learned and analyzed the current situation of marketing activities that the company has been implementing, I have a more realistic view of business activities in general, marketing policies in particular Understanding the importance of marketing activities,
I chose the internship topic “THE PRACTICE OF MARKETING ACTIVITIES ATTOPONE TRADING AND TRANSLATION COMPANY LIMITED” as my internship report.
Report objectives
The purpose of this internship is to use the knowledge and skills learned in class to successfully complete the tasks assigned by Topone Trading and Translation Company Limited On the other hand, my internship experience has helped me improve my soft skills, such as communication skills, problem-solving skills, information search, and integration skills And more importantly, the internship helped me observe and learn about the marketing activities of an enterprise, in reality, to know how the knowledge I learned in school was applied in practice by enterprises
Therefore, my main purpose is to analyze the Marketing activities of Topone Trading and Translation Company Limited Thus, the strengths and weaknesses of the company's marketing policies, and propose some disarmament measures to improve the effectiveness of the company's marketing activities through this report.
Scope of the report
• Spacial scope Topone : Trading and Translation Company Limited
• Temporal scope: Business situation of Topone Trading and Translation Company Limited form 2017 to 2019
Methodology
In order to complete the report, several research methods were used:
First, the descriptive method is used to describe some of the basic marketing definitions The second is that this report uses data synthesis and analysis methods I have collected primary data such as the company's financial statements in the last three years from the finance and accounting department, the marketing performance report of the marketing department, After collecting the data, this paper reviews the company's operating performance and marketing performance in the past three years and finds out the achievements and limitations The research methods have been used flexibly in the report.
Report structure
Company introduction
Founded on May 17, 2019, Topone Trading and Translation Company Limited has been in operation for more than 1 year, has become a company providing it translation services, interpreters, voice-over, and human resource solutions The clients of the company include Government organizations, multinational corporations, strong domestic and international brands such as Intel, IBM, ABB, Quintiles, Viettel, Vietnam Airlines, Vinamilk, FPT, Mobiphone, Ford Vietnam, Yamaha, Honda, Toyota, Brainworks, Panasonic, Vietnam General Department of Customs, Ministry of Finance, Ministry of National Defense, Ministry of Public Security, Department of Labor Safety, Department of Trade Promotion, BIDV Bank, MB Bank; Maybank; North Asia Bank; Ace Life, Sofitel Plaza, Sheraton Hotel, CMC Technology Group and the customer is a testament to the success and a measure of the quality of service that the company provides
In the past year, the company has implemented multidisciplinary projects such as economics, engineering, banking and finance, business administration, etc with 170 different languages The projects implemented by Topone are highly appreciated and gained the trust of customers It is the result of the dedication and constant efforts of experienced translators
Topone Translation always focuses on optimizing staff, management processes, management technology, and customer service, thereby creating the best products and services to bring added value and the best economic efficiency for every customer With enthusiasm and reputation, Topone Translation Company has provided customers with the highest satisfaction on service quality With enthusiasm and reputation, Topone Translation Company has provided customers with the highest satisfaction on service quality
Topone Translation Company is proud to have a team of highly trained, professional, experienced translators and many years of experience in interpreting, together with more than 10,000 collaborators who are professors, PhDs, lecturers at universities and collaborators working at embassies, Ministry of Foreign Affairs, Research Institutes and foreign experts who are competent, professional, enthusiastic and always perform the work with the highest quality and efficiency
Figure 1.1 The organizational chart of Topone Trading And Translation Company
(Source: Charter of Topone Trading And Translation Company Limited, 2019) The company's director, Ms Le Thi Uyen, is responsible for leading the company, managing and supervising all business activities, and coordinating project personnel
Regarding the role and functions of each department in the company:
Translation - Proofreading Department receives translations, translates them accurately and quickly, and experts check the quality of translators and collaborators before submitting the translation results to the Project Management Department
Project Manage ment Depart ment
Project Management Department determines the objectives, work, and estimated resource requirements for project implementation; allocating resources including money, labor, equipment, coordination, and time management; monitoring and checking project progress, analyzing the implementation situation, summarizing, evaluating, reporting implementation results, and proposing solutions to solve difficulties during project implementation
All business activities are managed by the Sales Department, which includes developing business plans, inquiring and analysing the market, developing customer incentive policies, searching for the market, and deploying sales activities to potential customers
Financial Accounting Department advises the company leaders on the financial management and accounting of the company, puts forward the direction, measures, and regulations of financial management, executing financial decisions of the Director and organize the accounting work so that it is effective, economical, and avoid wastefulness, strictly comply with the regulations and regimes according to current regulations
Human Resources Department ensures that the company's human resources are managed and used effectively, advising and assisting the Director in organizational and personnel work, labor, wages, emulation, commendation, and inspection defense and security inspection and legislation
Marketing Department in charge of product marketing, widely promoting the company's image, guiding and answering all customer questions
Topone Trading And Translation Company Limited have a team of translators committed to making accurate translations from over 170 languages worldwide, including notarial translation, professional technical document translation, banking and financial documents translation, marketing documents translation, bidding documents and project translation, website translation, insurance and securities documents translation
Topone Trading And Translation Company Limited is a quality translation company in Vietnam The company specializes in providing multilingual translation services and professional translation services for institutions, enterprises, and individuals, with quality assurance, high speed, and optimal cost.
To ensure the accuracy of customers' documents and texts, Topone only uses a team of translators and editors with at least 3 years of experience, in addition, the personnel in the company must have background knowledge and rich experience in the field of translation
With such top quality, customer care process, and professional attitude, Topone Translation has successfully implemented many projects and become a reliable and high-quality translation service provider for domestic and foreign institutions and enterprises
As a professional interpretation - translation company in Vietnam, Topone
Trading And Translation Company Limited has built a team of interpreters who are competent, experienced, and responsible to serve customers with accompanying translation needs, conference interpreting, cabin interpretation of all kinds
Facing comprehensive economic, social and political reconciliation in the world today, Topone interpreters are indispensable people with many organizations and individuals from ministerial agencies to private enterprises Topone's interpreter or
Introduction to the internship in Topone Trading and Translation Company Limited 11 1 Weekly schedule
During my 8 week internship at the Company, my weekly schedule is as follows:
Week 1: from 22 November 2021 to 27 November 2021 My job duties include: learning about the internship department; getting to know the senior colleague in the s department; organizing documents; finding out receipts, payment slips, warehouse receipts, delivery notes
Week 2: from 29 November 2021 to 04 December 2021 My job duties include: sending quotations to partners; entering profile data; learning how to write invoices and how to adjust them
Week 3: from 06 December 2021 to 11 December 2021 My job duties include: making statistics of online marketing products and categories; arranging invoices and documents; sending email reminders to customers
Week 4: from 13 December 2021 to 20 December 2021 My job duties include arranging invoices and documents; preparing goods according to samples and sizes for delivery; product advertising on e-commerce channels
Week 5: from 22 December 2021 to 25 December 2021 My job duties include: translating instruction manuals and sending request forms to the relevant department; learning about the bilingual (Vietnamese - English) contract form of the company; participate in drafting a commercial contract that provides services to individual customers
Week 6: from 27 December 2021 to 31 December 2021 My job duties include: finding details of international agents that supply equipment and services the company sells; writing articles promoting services in English on the website; performing the search for suppliers of services required by the project; making a summary report that includes (price, payment method, delivery time, warranty ) of at least 3 suppliers and presents the supplier approval document for the project to the inspection instructor
Week 7: from 03 January 2022 to 08 January 2022 My job duties include gathering visa applications for office staff to go on business in foreign; sorting, classifying customer records
Week 8: from 10 January 2021 to 15 January 2022 My job duties include: handling the outstanding work and handing over the next finalized work to the instructor; asking for the confirmation of internship in the Marketing Department; greetings and goodbye to the employees in the company
1.2.2 Organizing media meeting s and attendance for marketing purposes
Participating in regular meetings between partners, the customer is an essential job in the process of implementing a project During the meeting, the parties will come together to agree on the things in the cooperation as well as the things that are not well understood about the project Organizing meetings will help the project run smoothly and consensus from both sides
Before the meeting begins, I will be informed by the manager and supervisor of the meeting two to three days in advance The first thing is that I will arrange to book the place where the meeting takes place The second thing is preparing equipment as well as ordering coffee Sometimes there will be long meetings and a light tea party is needed So if the meeting time is long, I need to organize a tea party with tea, coffee, and some light confectionery for partners
My responsibility has always been to keep the Meeting room in ready status for Project Meetings and issue Minute of Meeting (MOM) for reporting to the Project Manager regularly
After a meeting, I have to hand in the Minute of the meeting to the Manager This is one of the most important missions that I was forced to complete A standard format
13 of the MOM shall be used to record meeting minutes and required actions Minutes shall be prepared after the meeting issued for review and thereafter incorporate comments Draft minutes to be prepared within two business days of the meeting and find form available with one business day of receiving comments after execution by all parties the minutes shall be distributed to all attendees and others as Draft minutes to be prepared within two business days of the meeting and find form available with one business day of receiving comments after executes by all parties the minutes shall be distributed to all attendees and others as determined by the Project Manager
In order to complete this task, I have to learn a lot of skills Firstly, communication skill is one of the necessary skills I should apply
Thanks to the teachers at the university who created conditions for me to participate in extracurricular activities and teamwork activities, my communication skills have a good foundation In the meeting, there were many people including the staff in the department, the staff from the partner’s company, and the customer That's why I need to behave well, be polite and get along with others In addition, I need to learn the styles of people around me and get advice from my supervisor
To catch up on the content of the meetings, I needed to apply the knowledge from Listening (1,2,3,4) I has learned at university because usually, they all spoke English in the meeting I apply Listening skills to grasp the main ideas whenever a major presenter spoke Besides, Public Speaking & Negotiation was another necessary skill, which helped me to share my ideas everywhen have a chance
During the meeting, I am responsible for taking note of the contents of the meeting and after that, I will edit the minutes completely This mission requires me to be quick to adapt to the atmosphere of the meeting I must always concentrate on being able to promptly record the information in the meeting Writing and memorizing skills are very important to meet this task well
At first, I had a lot of difficulties in listening to the partners during the meeting because the majority of foreigners came from countries like Malaysia or India so their voices were difficult to keep up While studying at school and through self-study, I often hear conversations with an accent coming from America or England So listening to voices from countries where English is not a mother language is extremely difficult for me But my colleagues always help me if I have any problems The content I have recorded I will edit it and send to my supervisor to consider whether I miss any content or make any mistakes In addition, they will comment on the content for me The next thing I did is to amend the notes that I has written in complete form according to the form I received before Finally, I sent it back to the supervisor
The manager will judge whether I did well through the content I have recorded and assess whether I am focused on the meeting or not Besides, my manager also asked some questions about the meeting and asked how I felt after the meeting In my opinion, the manager will give me more suitable advice to help me improve my skills better
The important thing is to ensure that the assigned papers are always neat and orderly I used to be responsible for sorting out project documents
The supervisor gave me a list of names of employees who needed to be issued a VISA to prepare for their overseas trip and paperwork but were very messy I’s job was to arrange them by name on the assigned list and check whether the staff has enough papers and who has papers but isn’t on the list that I need to add them right the way After the arrangement is completed, I will write down any staff who are not enough or have no clear documents and return them to I’s supervisor.
Sometimes the supervisor gave me documents to scan I was assigned a supervisor's bill and my job was to arrange the bills in the order of the months of the year and separate the bills and scan each sheet then sent to the supervisor's computer system each own folder
The document control work requires me to be quick, careful, and know-how to arrange the task to quickly complete the task
Sometimes the paperwork is so much that I can't avoid making a mistake Sometimes I forgot some of an employee's papers or scanned the documents At such times, the supervisor will check and message me the items I have left behind so that I can add more After that, I noted those mistakes on a small Notebook and read it again
Theoretical background
Marketing is an abstract concept that has been defined in many different ways by people due to different perceptions It is defined in Dictionary.com as “the action or business of promoting and selling products or services, including market research and advertising”
According to Philip Kotler, “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others” Marketing is also defined by the American
Marketing Association as “the activity, set of institutions and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” The term developed from the original meaning which referred literally to going to market with goods for sale Marketing is the action or business activity that includes market research and advertising, which involves presenting, promoting, finding out what customers want, using that information to design products and services, and then selling them effectively or in the best possible way From a sales process engineering perspective, marketing is “a set of processes that are interconnected and interdependent with other functions of a business aimed at achieving customer interest and satisfaction” Marketing also refers to activities a company undertakes to promote the buying or selling of its products or services which include advertising, selling, and delivering products to consumers or other businesses Some marketing is done by affiliates on behalf of a company Besides, marketing is the process of getting potential clients or customers interested in your products and/or services The keyword in this definition is process; marketing involves researching, a promoting, selling, and distributing your products or services On the other hand, marketing is the process of teaching consumers why they should choose your products
17 or services over those of your competitors, therefore, it truly is a form of persuasive communication
The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market The 4Ps make up a typical marketing mix – Product, Price, Promotion, and Place
When developing a product or service it's impossible for some reason that no one wants to buy, but many businesses decide to offer something first and then hope to find a market for that product later The Chartered Institute of Marketing (2009) shows that the perfect product must provide value to the customer, meaning the company has to give customers what they want, not what they think their customers are want The first element of the marketing mix is the third being sold by the company Ivy (2008) points out that it's not just a simple set of tangible features; it is a complex package of benefits aimed at satisfying customers' needs Suherly, Affif, Arief, and Guterres (2016) also say that products are merchandise supplied to end users by manufacturers Products can be classified according to two types tangible products and intangible products (services).
As defined by Suherly, Affif, Arief, and Guterres (2016), price is an intermediary used by a customer to pay for products or services provided by a company In general, the price of the service includes considerations related to fixed costs (overhead) and variable costs (including labor and material costs), which include the determination of Price discounts, channel co-channel commission determination, and credit (terms of sale of products and services) The Chartered Institute of Marketing (2009) shows that a product only deserves what the customer is willing to pay for it Pricing also needs to be competitive, but this doesn't necessarily mean that the cheapest, a small business can compete with larger competitors by adding additional services or details that will give customers better value for money
The price policy is an overall principle, method, and solution that businesses impact on prices to achieve a defined strategic goal
In each strategic period, enterprises need to have specific policies for each item including the main contents related to issues such as the price set (high, medium, or low), how to set prices (based on (in terms of cost, competitive status or product life cycle), discounts and discounts, payment terms such as term, payment method, price discrimination policy, etc Specific pricing policies must be linked to the situation and forecast of supply-demand, competition, the whole market as well as in each partial market Therefore, it is not excluded when the price policy in different markets is different
According to Gituma (2017), promotion is all activities carried out to communicate and promote products or services to the target market The Chartered Institute of Marketing (2009) shows that promotion is the way a company communicates to its customers what it does and what it can provide It includes activities such as brand, advertising, public relations, corporate identity, sales management, special offers, and exhibitions Promotions must be focused, appealing, telling a consistent 5 messages, and most importantly giving customers a reason to choose your product, not someone else's
The promotion policy is a comprehensive set of basic principles, methods, and solutions associated with product consumption activities to limit or eliminate all obstacles in the consumer market, ensuring the implementation of strategic objectives comb defined
Promotion policies include other specific policies such as advertising and promotion policies: Advertising policies of a strategic business period pertain to the
19 product life cycle, market situation, forecast, business location, specific advertising goals, etc
In general, the advertising policy of an era involves choosing a form of advertising such as product or business advertising; focused or unfocused advertising; standalone or general advertising; advertise cable directly or indirectly; choose the form of advertising such as television, tablets, newspapers or status shows, movies, customer conferences; As well as choosing the means of advertising, funds for advertising, Orientation solutions for selecting specific decisions in different markets may not be the same
Promotional policies in the strategy phase often refer to self-made forms of promotion such as contest vouchers, gift-giving, discounts or sales, time and time, customer service organization In addition, businesses can also build advocacy policies by specific market markets
In the above series of policies, it is necessary to identify which promotion solutions are leading and suitable for the general marketing strategy
The location or place of distribution is another very important marketing element, it is defined as the process and method by which the product or service reaches the customer According to Išoraitė (2016), distribution is the factor that helps customers and users find and continue to buy those products from those manufacturers/suppliers at the moment of need Distribution can thus become a complex operating system, where independent producers, brokers, traders, and consumer interests are fully interoperable in a given environment and a certain time Goods manufactured for sale to customers; they must be made available to the customer in an appropriate location so that they can easily make transactions Therefore, it is important for the product to be ready at the markets in the city Thabit & Raewf (2018) also reports that this includes a series of individuals and organizations such as distributors, wholesalers, and retailers who shape the organization's distribution network (distribution channel) The organization must choose to sell it directly to individuals or through distributors, possibly even planning to sell it directly to customers
In each specific strategic period, developing distribution policies is an important content of marketing policy Does the distribution policy usually cover things like identifying direct or indirect distribution channels? What is the main distribution channel? System of points of sale? Criteria for geographical selection, commercial representation, sellers? Warehouse and shipping conditions
Product launches to market In particular, the sales network is a collection of channels with the participation of different entities with different strengths and prestige to successfully bring goods from manufacturing enterprises to customers The design and management of enterprises' new commodity sale channels must ensure the following requirements: Consistent with the nature of the product, creating the most favorable conditions for customers to access and find products easily, considering the distribution channel of competitors
Privileged distribution has the following characteristics: To limit the number of intermediaries, intermediaries not selling goods of competitors Businesses hope customers have enough knowledge and dynamism to buy products Enhance the impression of the product and have a high profit Choose a location to sell products Selective distribution: is a method in which the number of manufacturing businesses is greater than the number of distributors and manufacturing firms costing less to control sales locations
Widely distributed: Businesses will find many sales locations to facilitate customers to find products but will lose control of the system
Current situation of marketing activities at Topone Company
2.2.1 Marketing strategy of the company
Diversification of products focusing on the market that needs Translation, the Company's product portfolio now focuses on two main groups: First, Group of corporate customers With the fact that the whole world is promoting connectivity among businesses around the world today, this is the type that is occupying a large market share in the market; Second, Individual customer group: Those who need Translation for personal purposes such as studying abroad, labor export,
Product quality is always an important factor to build the reputation of the brand in the minds of customers With the motto "Quality is top" - the key to success, the Company constantly improves the quality of products and services, added value The translators collaborating with the Company are all highly qualified, senior in the field of Translation, so the translation products to customers always ensure accuracy and accuracy customer satisfaction, creating trust in the Company's brand
Executive service is an indispensable part After translation products are delivered to customers The Company is always accompanied by a commitment to guarantee a lifetime translation In order to once again affirm that the translation quality of the Company is very good, if there are errors, the Company will be responsible for correcting and committing to refund the customer if the error is over 10%
Product quality is always the top concern of the Company, in order to provide the best product to meet customer requirements and to constantly improve its management system to meet the needs increasingly customers
Product quality of the Company is reflected in the quality of each product delivered to customers, quality human resources, working processes, construction according to international standards
In order to coordinate the interests of enterprises and customers, the company's business and marketing strategy from 2021 to 2025 is based on the following factors: Factors inside the business, the first, costs, selling expenses, and related costs: It reflects all expenses that the Company has to spend on complete Translation and delivery to customers and management costs The second, characteristic of the product: comes from the target customer group These are factors that businesses can influence and adjust, it depends on the vision and strategy in each period of the Company
Factors outside the business, the development of the economy: in the context of the current integrated economy, Translation is a fertile land, leading to an increase in translation companies, increasing competition in the market Provisions of law on taxes and fees when notarizing translations of documents
These are factors that businesses cannot influence or change However, based on the policies of each period, the Company has made flexible adjustments to take advantage of opportunities and limit risks that the Company may encounter
Regarding mixed promotion strategy, the first is Advertisement, recognizing the important role of advertising activities in promoting sales and promoting the brand image of the Company The Company has made advertising mainly through relatives, friends, or Banner boards in front of the Company, digital marketing, internet, social networking sites However, this advertising activity is still simple, and the tradition is only to introduce information to customers about the Company's products without creating special impressions so that customers can remember the brand image Company's trademark Each time a project is implemented, it will add experience capacity to the company competency profile This is an effective way to introduce and affirm the Company's brand to customers
The second is Public Relations, the Company often organizes an online seminar on the role of translators and interpreters in current social activities with the participation of been interpreters, senior interpreters to share experiences during Translation Online seminars attracted a lot of attention the online community This in activity is to encourage the working spirit of the employees in the Company, as well as to promote the Company's communication activities and shorten the distance between
In particular, the Company also pays great attention to customer care activities For customers who are interested, in need, or are using products of the Company, the Company is always ready to advise customers when customers have questions about products, services, processes of receiving, and handling profile and can send technical staff to take place to support, advice for customers On holidays, the Company sends greeting cards and presents a souvenir calendar of the Company
2.2.2 Marketing policies of the company
Recognizing the role and importance of products in the branding and branding strategy of the Company, the Company always tries to best serve the needs of customers The Company provides translation services in over 50 languages in the world, and 200 different specialties, translation services, video translation, and subtitles
- Clip, To ensure to meet all customer needs The Company's views on product policy are expressed in two aspects: product diversification and product quality improvement
It can be said that for any enterprise, price is always a sensitive issue, which directly affects and affects customers' consumption psychology Sellers always want to buy the highest quality product at the lowest cost while the reseller always wants to sell at the highest price Price plays a decisive role in buying one item or another for consumers For companies, the price is a competitive factor in the market Product pricing is important for businesses because it directly affects sales and profits The Company's product distribution is mainly done through direct transactions, the projects are conducted mainly through bidding
The Company's products are targeted at two main customer groups: corporate customers and individual customers With a simple distribution form, customers can directly access the Enterprise, ensure accurate information sources, minimize costs and shorten the contract performance process
On the other hand, the distribution channel through bidding for translation projects for businesses, or organizations also accounts for a significant part of the Company's annual revenue This is a distribution channel that needs extremely strict brand value
Therefore, the Company has focused on promoting product distribution through this channel
Promotion is an activity that creates special attention and attention of customers, especially to Vietnamese consumers Grasping this mentality, Topone Translation Company has implemented some forms of promotions to increase the number and leave a good impression on the hearts of customers such as Direct discount for customers who pay all Translation fees right after signing the contract, giving souvenirs when the value of the order is large, the gifts are labeled with the company logo on the gift products, this is also a way for the Company to widely promote their brands to customers About the company's marketing performance from 2019 to 2022, Topone always puts customers the most important position in the company's development strategy in The company's customers are businesses that want to use its services Customers are the most important factors that determine the success of a company, and they are the people who pay the costs and bring profits to the enterprise The company has a vast market, so customers are also divided into two market segments at home and abroad Foreign customers account for 30% of the total number of corporate customers The advantage of these customers is the payment time and the loading and unloading process is very fast However, the disadvantage is that the customer provides very strict conditions in the contract, and it is difficult to sign the contract due to language differences The number of domestic customers accounts for 70% of the total number of corporate customers The advantage of these customers is that they offer looser contract terms At the same time, it is easier to travel the same country However, the disadvantage oto f these customers is the time of loading and unloading goods and the time of payment or delay, which affects the payback period of the company's investment In order to have a larger customer base and maintain a good relationship with traditional customers, advertising and promotion are extremely important to attract more customers
Assessments
Based on the company's business performance report and customer list, Topone's marketing performance can be evaluated as follows:
Operating in the field of Translation, the Company has positioned the brand image in the minds of customers through building and communicating the Company's brand identity to customers (Name, logo, slogan…)
The Company has applied quite effectively the mixed marketing strategy for its branding and development strategy At the same time, the Company is constantly improving the quality of its products with the use of media that has helped the Company deliver its message to customers
The Company's products have gained a foothold in the market, creating a very good impression on customers The Company's reputation is increasingly known thanks to the continuous improvement of product quality, making a difference in quality, providing services, flexible pricing policies, a smooth distribution channel system to people consumption
The Company is very aware of the quality of human resources, especially young staff Currently, young employees under 35 account for more than 57% of the total company personnel In addition to the salary set at a competitive level with other large units in the industry, the Company also has many regimes and policies to stick with the talented staff: reward according to the Company's business results, hot rewards for but outstanding and outstanding contribution achievements, bonuses These policies will create conditions for people to attach their responsibilities to their rights in the long term
The image of Topone in the Company's logo expresses a strong desire to constantly learn and strive to bring customers the best products and services to customers Besides, through the logo, customers and partners can feel the Company's activities are not only limited to a small scope but it will reach out to thrive and expand beyond a small scope to reach a wider market all over the world
The Company has invested in building brand identity elements such as name, logo, slogan, but there are still many brand identification elements that have not been paid attention to by the company, such as facilities elements and employee uniforms, etc The appearance and meaning of the current logo cannot be interpreted and saved as corporate governance documents in the Company The Company's brand identity system has not been paid attention to and is unified, reducing the image of professional businesses
In addition, Topone still has obvious shortcomings, such as the company's failure to diversify and improve product quality; In bidding, attention should be paid to reasonable prices and customer contracts with the company The company did not focus on establishing new distribution channels for the company, mainly traditional channels and familiar relationships It is ineffective to establish and develop the brand in the direction of mixed promotion: the investment cost of establishing and developing a brand is not high, especially when the company is in the stage of confirming the brand in the market The company also doesn't pay attention to the working spirit and life of its employees The quality of human resources is still limited
CHAPTER THREE: RECOMMENDATIONS FOR TOPONE TRADING
Future goals and development orientation
Topone Trading And Translation Company Limited are committed to making every effort to invest in all material and spiritual resources to provide the best quality translation products, meeting the needs of customers
The Company's mission is to maximize customers' benefits to create added value for the Company and society From the vision, the mission we can see that the Company has defined the long-term goal of achieving maximum benefits stemming from increasing benefits to consumers and harmonizing with the interests of society The Company sets goals to be implemented in the period of 2022 - 2025:
Speeding up the investment in projects, implementing on schedule to ensure progress with the best efficiency, by the general development orientation of the Company
Aligning the Company's brand image with quality and reputation, increasing credibility with customers
Protection and protection of trademark rights “Topone Translation” and promote the image, enhance reputation, position, dominate market share and expand the Company's market across the country.
Solutions to improving marketing efficiency
3.2.1 Diversify ing and improv ing the quality of the Company's products
❖ The basis of the solution
For consumers, product quality is considered to be of utmost importance Therefore, the evaluation of products should be done, in detail, and in full In order to have a good product, firstly, there must be sources of translators, interpreters with high professional qualifications, seniority of experience, by requirements, minimize the incidents that may occur At the same time, the Company also needs to ensure that the progress of handing over the Translation - correcting the Translation means that the Company has committed to not make customers angry because the delivery time is late Besides, the Company needs to develop and diversify products in width, length, and depth
❖ Conditions for implementing the solution
Team of translators, interpreters with high professional qualifications and seniority of experience to bring customers the best quality products Regularly survey customers through the questionnaire of product quality, safety for users to evaluate the best product quality At the same time, the Company needs to pay attention to researching to build a suitable product list, hitting exactly the needs and tastes of consumers
❖ Expected results achieved from the solution
A team of translators and interpreters with high professional qualifications and experience in creating the best products for customers Frequent customer surveys aim to improve the quality of our products, at the same time create a close relationship and build customer trust in the Company, the Company offers the right products suitable for each segment, each area to best serve customers, then the brand is confirmed to be more popular and more popular
3.2.2 Establishing reasonable and flexible rates
Price, though not a competitive factor in oil products, is still considered an important factor in attracting customers, especially in low and middle-income markets
In developing new products, the Company must have appropriate pricing policies to create a firm foothold in the market Building and managing prices is a condition for businesses to penetrate the market and business operations with high efficiency But the price is influenced by many factors and complexity, so it requires solving many best and most comprehensive issues
❖ Conditions for implementing the solution
The company needs to monitor, analyze and predict the fluctuations of macro factors such as inflation, exchange rates, interest rates Since then, there is an action plan in adjusting the product reserve level to take the initiative and avoid sudden increases in costs The company needs to develop a flexible pricing policy suitable for each customer group and depending on the period Especially, in the difficult time of the economy, customers need to be treated well and have more choices Form of payment with different price discounts
The company should clearly understand the price of competitors to have a reasonable bid policy for customers as well as the company by setting a reasonable price (discounted by the payment method) payments, or for regular customers ) or lower prices than competitors when they want to reach the market, gain market share.
Create a relationship between the Company and customers when there is a reasonable price For example, for public works, the customer has an average income, so the Company applies the support forms such as only need to pay 70% upon delivery, the rest can be paid within 3 (three) months after delivery, payment by installment payment Attracting customers, creating an image of the Company is not only a supplier of products but also a companion and help customers overcome difficult times
Currently, the form of distribution plays an important role for businesses, it not only plays a role in finding customers and reaching many target customers, but the use of good distribution channels will also bring about effective High results for the Company Therefore, the Company needs to consider and propose strategic measures to supplement the forms of product distribution to the Company
❖ Conditions for implementing the solution
The company can choose many different forms: The company makes use of well- known websites such as muasam.com, rongbay.com when interested customers can find out information about prices, answer questions or about the company's best-selling products , material products thereby advising customers to sign contracts
Employees in the Company must master the professional knowledge, knowledge of quality, operating procedures, communication skills, listening skills, handling situations, thereby persuading customers to buy products
The use of websites as a form of distribution at low prices because they do not have to spend on rental costs, equipment is quite flexible and convenient for customers when they need to buy equipment kitchen as well as the prestigious company in the market, at the same time through which the Company will meet directly with customers to consult carefully about how the products, price-quality to customers better understand
3.2.4 Promot ing promotion activities in building and developing the Company's brand name
Mixed promotion is an important activity in the Company's branding and development When the Company has good products, flexible and attractive prices, giving customers favorable conditions, but if not doing communication, the above factors will not be known to customers or the customer process Access will take more time The media contributes to creating a good brand image of the Company, creating and depicting in the minds of consumers what the company wants them to think about when contracting the Company's products Therefore, promote the effectiveness of to this tool, the Company may apply the following measures to better complete the mixed promotion policy
■ Use the means of advertising on television, newspapers, social networks to position the Company's brand
Take advantage of modern technology to promote the company's brand According to statistics of ComScore (the world's leading online statistics company), as of March 2019, the number of Internet users in Vietnam is 16 million, Vietnam is the country with a growth rate of 14 % / year, the highest in Southeast Asia (General Statistics Office, 2019) At the same time, the proportion of Vietnamese people using social networks is very high For every 100 Internet users in Vietnam, 88 people have visited websites, of which Facebook is used the most, on average every 3 seconds, only
1 new Vietnamese user (General Statistics Office, 2019) Simultaneously television, newspapers are the media that have a large number of users The cost of advertising through these media is large but allows communication to customers with large scale and volume
Advertising is aimed at a large number of people, they may not pay attention to the Company's brand, but when using the catalog, it has a great effect on potential customers, loyal customers, or customers in need of translation.
Customers know the Company mainly through relatives and friends, so trying to create a style, an impressive image, a unique reputation for the Company in the current context of many difficulties Therefore, the Company can use a variety of PR options
❖ Conditions for implementing the solution