(Tiểu luận) subject communication skillsvp bank the reliable companion of the younggeneration of vietnam

Target Audience:...6III.Campaign Implementation:...7 Trang 4 I.Introduction:VP BANKSlogan: VP Bank - The Reliable Companion of the Young Generation of Vietnam1.. However, along with its

THUONG MAI UNIVERSITY

INSTITUTE OF INTERNATIONAL TRAINING

VP Bank - The Reliable Companion of the Young

Do Thi Hong HanhNguyen An KhanhCan Ngoc My

Le Hong OanhBui Phuong ThaoNguyen Phuong Uyen

Class:

CN18-TNA

3 Nguyễn Hoàng Anh - Nhóm trưởng

- Phân công nhiệm vụ cho các thành viên trong nhóm

4 Nguyễn Minh Anh III Campaign Implementation:

2 Public Relations:

6 Trần Thị Trâm Anh IV Conclusion:

Tổng hợp và chỉnh sửa bản word

15 Trần Thu Hà III Campaign Implementation:

4 Risks and solution:

a Risk:

17 Đỗ Thị Hồng Hạnh II.Regarding the campaign:

1 Communication ObjectivesLàm PowerPoint

24 Nguyễn An Khanh II Regarding the campaign:

2 Target Audience:

31 Cấn Ngọc My III Campaign Implementation:

4 Risks and solution:

b Solution

34 Lê Hồng Oanh III Campaign Implementation:

1 Marketing Communication Tools:

41 Bùi Phương Thảo III Campaign Implementation:

3 Financial Resources:

49 Nguyễn Phương Uyên I Introduction

I Introduction: 4

1 Current Commercial Image: 4

2 New Commercial Image: 4

3 Background: 5

II Regarding the campaign: 5

1 Communication Objectives: 5

2 Target Audience: 6

III Campaign Implementation: 7

1 Marketing Communication Tools: 7

2 Public Relations: 11

3 Financial Resources: 17

4 Risks and solution: 18

a Risk: 18

b Solution: 19

IV Conclusion: 20

I Introduction:

VP BANK Slogan: VP Bank - The Reliable Companion of the Young Generation of Vietnam

1 Current Commercial Image:

With the mission of 'For a Prosperous Vietnam,' VPBank has been accompanying every journey to the prosperity of each customer, shareholder, employee, and the entire community Prosperity with VPBank will be manifested in four aspects: Financial, Spiritual, Community, and Material

2 New Commercial Image:

The value aimed at prosperous individuals is the DNA that forms the Brand DNA of VPBank At the turn of the century, VPBank embarked on a brand repositioning campaign VPBank started with the GENZ VIETNAM communication campaign to spread and activate the new positioning, bringing the green flame of prosperity to the digital generation

Established from 1993 to the present, VPBank has built a strong resource base along with credibility and high-quality operational services However, along with its longevity in the market, there has been a somewhat outdated perception and image of VPBank in the eyes

Before a completed new positioning, VPBank's biggest challenge at that time was to create a communication campaign to activate, spread, and rejuvenate the brand with the new VPBank colors

1 Communication Objectives:

- Introduce and activate the positioning as 'The Reliable Companion of the Young Generation of Vietnam' and the new, more contemporary, and distinctive brand identity

- Utilize digital technology to reach the younger audience

- Engage the interaction of the young generation of Vietnam on VP Bank's

communication channels

- Use Key Opinion Leaders (KOLs) to spread messages and create activities and challenges that Gen Z wants to participate in, such as fast-paced challenges with larger rewards

- Present a communication image that aligns with the personality traits of the VP Bank brand: harmonious, aspirational, and modern.

=> From the name 'Vietnam Prosperity Joint Stock Commercial Bank' and the mission 'The Reliable Companion of the Young Generation of Vietnam', VP Bank has, is, and willcontinue to accompany every journey of Gen Z

2 Target Audience:

The broad target audience for the campaign tends to be the forward-thinking young generation, including four main groups primarily located in Hanoi and Ho Chi Minh City:Gen Z, recent labor force entrants, office employees, and business professionals.Vietnamese youth belong to the generation born from 1980 to 2000 (also known as Millennials), making up approximately 35% of the population, equivalent to over 33 million people They are entrepreneurs, middle-level managers, or salaried workers with arelatively decent income in society This generation is considered the 'golden' generation and is always of interest to financial brands

VPBank has been serving this customer group for many years In 2020, VPBank collaborated with Nielsen, a leading market research company in Vietnam, and concludedthat this generation prefers smart services paired with fast and convenient online products.It's worth noting that while these young individuals lead dynamic lifestyles, they can still

be passive when it comes to financial management, sometimes facing difficulties in spending, investing, and saving for the future For the youth, the best choice is not always the lowest price but the most convenient one

They are passionate about emerging digital technology trends and seek to connect with the community, especially after the pandemic They are concerned about their quality of life as well as mental and entertainment issues because they are a generation that dares to think, act, and express their personality and values They are striving for success on par with the world's strongest nations alongside Vietnam

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III Campaign Implementation:

1 Marketing Communication Tools:

- Advertising:

+ VP Bank utilizes TV advertising with TVCs (Television Commercials) and videos related to VP Bank being a reliable companion to the Gen Z generation, showcasing a youthful, dynamic, creative, and innovative style

+ Online advertising by VP Bank includes context-based advertising in search engines, web banners, and sponsored content in programs such as 'Big Song Big Deal,' the best music program

- Billboard Advertising: VP Bank will place billboards in densely populated areas and locations with a high concentration of universities to reach the younger audience more effectively This strategy aims to make VP Bank familiar and ingrained in the

subconscious minds of the youth

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This approach helps strengthen customer relationships and highlights VP Bank's excellentcustomer service.

+ Introduction to customers: When customers visit the bank to make deposits or avail any other services, employees can introduce additional services that the bank offers This helps customers gain a better understanding of the bank's products and offerings

- Sales Promotion:

+ Offering promotional packages for new students or those in the school-going age, such as opening accounts with attractive features or running lucky draw campaigns for customers.

+ Offering a 10% discount for payments made using VP Bank accounts, up to a maximum of 5 transactions

+ Providing a 5% cashback when using VP Bank to pay tuition fees

+ Offering discounts on airplane tickets when purchased through VP Bank

- Direct Marketing:

+ Social media marketing: Gen Z heavily uses social media platforms such as Facebook, TikTok, and Twitter Therefore, advertising on these channels can be highly effective Utilizing catchy slogans, new trends, and humorous content can help reach and engage Gen Z effectively

+ Creating challenge activities on TikTok, such as "Dance with VP Bank," with the theme of "Connecting the Future" and using the hashtag #VPbankwithgenz This can effectively communicate the message of a dynamic, passionate, rapidly developing young generation who are in control of their future.

+ Organizing music festivals with a large stage combined with LED screens

One of the ways VPBank reaches out to Gen Z is through popular social media channels like Facebook, Instagram, Twitter, and TikTok VPBank creates engaging content that resonates with the passions and interests of Gen Z, from sponsoring music events, sports competitions, to exploring urban life and youth entrepreneurship

Furthermore, VPBank also develops products and services tailored to the needs of Gen Z For example, VPBank offers a mobile utility app, online banking, and flexible account packages that align with the dynamic and digital lifestyle of Gen Z.

Additionally, VPBank continuously seeks collaborations with influencers and well-knownfigures from Gen Z to build trust and credibility within this community By leveraging its strong media resources, VPBank aims to establish a close and sustainable relationship with Gen Z

VPBank focuses on several key elements in building public relations with the Gen Z generation as follows:

- Online information channels: Gen Z is a highly active group of internet and social media users VPBank should utilize online communication channels such as websites, mobile apps, Facebook, Instagram, and Twitter to reach and convey messages to Gen Z

- Creative and relevant content: To capture the attention of Gen Z, VPBank needs to create unique, creative, and lifestyle-relevant content Stories, video clips, images, or memes can be used for visual and interactive communication.

- Interaction and engagement: Gen Z enjoys interaction and participation in content creation VPBank can organize contests, promotions, or online events for Gen Z to participate in and have the chance to receive rewards or special offers

- Technology and convenience support: VPBank can develop products, services, and technology applications that cater to the needs and preferences of Gen Z This helps them experience easy, convenient, and modern banking services.

- Respect for personal and societal values: Gen Z cares about social and environmental issues VPBank can demonstrate respect for individual and societal values by participating in charitable activities, environmental protection, and community development

- Direct communication: Gen Z prefers direct communication and interaction through social media channels or directly through chatbots or online chats VPBank can provide tools and channels for Gen Z to connect and receive quick support.

The campaign "VPBank x Gen Z - Sparking Creativity" focuses on encouraging and supporting the creativity of Gen Z through activities and competitions.

VPBank organized the "VPBank Hackathon" competition to promote the development of creative mobile applications and digital solutions This competition garnered significant interest from the Gen Z community, with participation from many students, programmers,and tech enthusiasts

Moreover, VPBank collaborates with influencers and prominent figures in the Gen Z community to share success stories and provide knowledge about finance and youth entrepreneurship Through connecting with influencers who have an impact on Gen Z, VPBank aims to convey the message of care and support for the personal development and careers of Gen Z

In summary, VPBank's activities and campaigns targeting Gen Z not only create a positive image for the bank but also demonstrate VPBank's commitment to supporting and encouraging the development of this young generation

- Allocate approximately 5%-10% of the revenue for advertising.

- Advertise on social media platforms such as Facebook: Approximately 60 million VND for 15 days, used to reach customers Given the widespread use of Facebook nowadays, running ads on Facebook needs to be done continuously

- Advertise on television (VTV channel) with a cost of around 60 million VND for a second broadcast during the 7 pm (19:00) time slot and use that ad for 1 month

15 Advertising placement costs on media outlets (such as VN Express) amount to approximately 409 million VND per month and use the advertising for 1-2 months

- Budget for advertising billboards in major cities like Ho Chi Minh City, Hanoi, Da Nangwill range from 1 to 1.7 billion VND for prime locations In other provinces and cities, the advertising cost through this method will range from 500 – 600 million VND With a widespread advertising strategy, banners will be displayed for a limited time, about 1 month

- Additionally, there are costs associated with organizing customer engagement events (including venue rental, KOLs, and artist fees) The cost for each type of KOL will vary and will be assessed based on their level of influence

- For TikTok KOLs, who are usually young influencers, the price for a show typically ranges from 12-20 million VND per show

- For artists, the cost to perform a song in a program is approximately 100 million VND (such as Mono, Hieuthuhai, etc.), and they will perform 2 songs

- The costs for sports events, light shows, and charitable activities will be discussed further based on the scale and location of the event

a Risk:

Repositioning the brand of a bank like VPBank can bring many benefits such as increasing customer awareness of the brand, improving the image and increasing the competitiveness of the bank in the market However, this can also face some risks such as:

- Expensive costs:

Rebranding requires a lot of costs such as advertising, marketing, changing slogans, websites, product packaging, etc Without strict cost management, the bank may lose control of costs and affect its profits

- Confused positioning

If the repositioning exercise is poorly executed or not supported sufficiently over time, then the end result is likely to be quite confused positioning The target market will have been mix of confusing messages and understandings about the product that had been accumulated over time

As a result, there is likely to be difficult transition period the brand and it is likely that is will take several years for the brand to be truly understood in this new proposed competitive position

- Loss of customers:

Some customers may not accept rebranding and switch to a competitor's product or service This can lead to loss of customers and revenue

- Loss of communication:

Repositioning the brand can cause confusion and loss of communication if not done properly Choosing a new brand name or an inappropriate new slogan can make it difficult for customers to remember or not be able to associate with the new brand.

- Competition:

If VPBank's competitors also implement similar rebrand repositioning strategies, the bankmay lose its difference and become more difficult to compete in the market

In short, VPBank's repositioning of the brand can bring many benefits, but there may also

be some risks To minimize risks, VPBank needs to come up with a careful rebranding strategy and meet the needs of customers

b Solution:

To successfully reposition the brand of VPBank while minimizing the associated risks, the bank should follow a well-thought-out strategic plan Here are some steps and solutions to address the potential risks:

- Thorough Market Research: Before initiating the rebranding process, conduct comprehensive market research to understand customer preferences, market trends, and competitors' strategies This will help in identifying the right direction for repositioning

- Clear Brand Strategy: Develop a clear and concise brand strategy that outlines the objectives, target audience, and key messages for the repositioning effort Ensure that all stakeholders within the bank understand and support this strategy

- Cost Management: Create a detailed budget for the rebranding process and allocate resources efficiently Consider the trade-offs between the costs of rebranding and the potential benefits it can bring Implement strict cost controls to prevent overspending

- Gradual Transition: To avoid confusing customers, plan for a gradual transition rather than a sudden overhaul Gradually introduce changes to the brand's visual identity,