(Tiểu luận) the influence of the socio cultural andtechnological environment on vsmarts marketingactivities

Trang 1 INSTITUTE OF INTERNATIONAL TRAININGDISCUSSIONCOURSE: PRINCIPLES OF MARKETINGTITLE: “THE INFLUENCE OF THE SOCIO-CULTURAL ANDTECHNOLOGICAL ENVIRONMENT ON VSMART'S MARKETINGACTIVITI

INSTITUTE OF INTERNATIONAL TRAINING

DISCUSSION COURSE: PRINCIPLES OF MARKETING

TITLE:

“THE INFLUENCE OF THE SOCIO-CULTURAL AND TECHNOLOGICAL ENVIRONMENT ON VSMART'S MARKETING

ACTIVITIES”

Teacher : Bui Lan Phuong

Group’s name : Group 2

Code module : BMKT1517E

Semester : 1st

(2023-2024)

Hanoi, Vietnam November, 2023

1 Ha Thao Linh

(Group leader)

- Set team's objectives

- Divide work among team members

- Learn and research about overview of Vinsmart and Vinsmart products

- Synthesize information and edit information

- Combine information into a complete essay

- Participate in contributing to members' ideas

9/10 - Divide work clearly, appropriately, with specific deadlines, and fairly with each member

- Creative and feasible ideas

- The content is clear but still needs editing

- Organize and attend meetings

on time

- Complete work on time

2 Ngo Tung Lam - Learn and research the

current state of Vinsmart's Social and Cultural environment

- Participate in contributing to members' ideas

- Participate in making PowerPoint

8.5/10 - Rich and useful content

- The content is clear but still needs editing

- Complete work on time

- Attend meetings fully and on time

3 Dao Khanh Linh - Join support to develop a

set of survey questions, collect information, and analyze data

- Participate in synthesizing content and creating a complete version

7.5/10 - Rich and useful content

- Developed many questions, but they were not very close

to the

contributing ideas

- Complete work on time

- Attend meetings fully and on time

4 Nguyen Phuong Mai - Point out the problems

that the business is facing and offer solutions to those problems

- Adding external solutions for businesses

- Participate in contributing ideas

8.5/10 - Rich and useful content

- The content is clear but still needs editing

- Complete work on time

- Attend meetings fully and on time

5 Nguyen Tra My - Point out the problems

that the business is facing and offer solutions to those problems

- Adding external solutions for businesses

- Participate in contributing ideas

8.5/10 - Rich and useful content

- The content is clear but still needs editing

- Complete work on time

- Attend meetings fully and on time

6 Phan Hai Nam - Learn and research the

current technology status

of Vinsmart

- Participate in contributing and editing ideas

8.5/10 - Rich and useful content

- The content is clear but still needs editing

- Complete work on time

- Attend meetings fully

7 Nguyen Phi Nhat - Learn and research the

current technology status

of Vinsmart

- Participate in contributing and editing ideas

7.5/10 - Rich and useful content

- The content is clear but still needs editing

- Complete work on time

- Did not fully participate in the meeting

8 Nguyen Thao Nhi - Develop a set of survey

questions, collect information, and analyze data

- Participate in contributing ideas

7/10 - Rich and useful content

- Developed many questions, but they were not very close

to the requirements

- Complete work on time

- Incomplete meeting attendance

9 Van Phuong Nhung - Participate in supporting

the study and research of Vinsmart's technology status

- Synthesize and edit information

- Make PowerPoint

- Participate in contributing to members' ideas

9/10 - Rich and useful content

- Complete work on time

- Attend meetings fully and on time

Table of contents

INTRODUCTION 7

1 OVERVIEW OF VINSMART 8

1.1 Introduction Overview of Vinsmart 8

1.2 Mission 9

1.3 Vision 9

1.4 Core values 9

1.5 Business situation 9

2 OVERVIEW OF VSMART PRODUCTS 9

2.1 About design 10

2.2 About configuration and outstanding features: 10

3 INTRODUCING THE TARGET MARKET OF VSMART 10

4 INTRODUCE TARGET CUSTOMERS 11

Vsmart is divided into 2 groups: individual consumers and organizational customers 11

5 COMPETITORS 11

6 CURRENT SITUATION 11

6.1 Current situation of socio-cultural environment 11

6.1.1 Cultural environment 11

6.1.2 Population or number of people existing in the market Through this criterion, businesses can determine the scale of demand and the diversity of demand 12

6.1.3 Social Development Trends and percentage of Internet Users 13

6.1.4 Divide customers' income sources This factor is related to the satisfaction of needs according to financial capacity 14

6.2 Current State of Technology 14

6.2.1 Technology in production activities 14

6.2.2 Technology in the marketing application 15

7 SOLUTION 16

7.1 Solution for the socio-cultural environment 16

7.2 Solution for the technology 16

The role of technology and social culture in business is huge and necessary for every business

The business market in the world in general and in Vietnam in particular has been undergoing huge and profound changes In particular, in the context of a developing economy, sometimes there are complicated developments, competition to win market opportunities and business opportunities is increasingly fierce, and cultural factors are clearly shown in Enterprise business increasingly proving its extremely important role Understanding the culture of partner businesses or competitors will directly affect the success of a transaction or negotiation - which is the first step in determining whether a business or sales contract is obtained established or not

Technological factors also play a huge role in business It helps businesses see what their customers' needs are so they can produce and develop their products Additionally, technology also helps companies gain and create a competitive advantage in the market

by increasing efficiency and reducing costs

Discover more

from:

BMKT0111

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1 OVERVIEW OF VINSMART

1.1 Introduction Overview of Vinsmart

VinSmart Research and Production Joint Stock Company is a company that manufactures and distributes telecommunications equipment under Vingroup Corporation founded by Pham Nhat Vuong on June 12, 2018 VinSmart uses intellectual property rights from BQ, a communications equipment manufacturing company founded in 2010

in Spain This is an excellent Vietnamese phone brand and is well-received by consumers

On June 12, 2018, Mr Pham Nhat Vuong issued an official dispatch announcing the establishment of VinSmart research and production joint stock company with an initial charter capital of 3 trillion VND, of which VinGroup contributed 80%, headquartered in Ho Chi Minh City 7 Bang Lang 1 Street, Vinhomes Riverside, Long Bien, Hanoi

On December 14, 2018, the company announced the launch of the first 4 phone product lines at Landmark 81, including 2 low-range products: VSmart Joy 1 & VSmart Joy 1+ and 2 mid-range products middle: VSmart Active 1 & VSmart Active 1+ run VOS 1.0 operating system

On March 20, 2019, VinSmart started selling Vsmart in Spain through the Media Mark system

On April 30, 2019, VinSmart bought 60% of Archos shares, a French consumer electronics company founded in 1988

On May 29, 2019, VinSmart launched sales of VSmart in Myanmar through Strong Source

On June 28, 2019, VinSmart announced an agreement with Fujitsu Connection Technology Company (part of Fujitsu Group) and Qualcomm to develop 5G smartphones

On October 3, 2019, VinSmart entered the Russian market with 4 lines Vsmart Live, Vsmart Joy 2+, Vsmart Star and Vsmart Bee On the 12th of the same month, VinSmart announced the price list for repair and replacement services for Vsmart phones

On July 2, 2020, VinSmart launched the next operating system version called VOS 3.0 (based on Android 10) VOS 3.0 can be considered an "operating system" compared to its predecessors (previous versions had no or little customization) The new operating system has achieved Play Protect certification licensed by Google

On July 6, 2020, VinSmart announced the launch of the first 5G phone called Vsmart Aris 5G On August 10 and 31, 2020, VinSmart announced the Vsmart Aris 5G Pro phone with a camera hidden under the screen

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for an American carrier, under the brand names AT&T Maestro Plus (V350U), AT&T Motivate (V341U) and AT&T Fusion Z (V340U)

1.2 Mission

VinSmart Research and Production Company was established in June 2018, with the mission of becoming a global technology company, creating quality electronic products and smart technology, and applying intelligent artificial AI and connecting to devices on the IoT platform

1.3 Vision

VinSmart Company is committed to continuous creativity and innovation in building a complete technology ecosystem, bringing a better, modern life to the people of Vietnam and the World

1.4 Core values

Vsmart is a Vietnamese technology and intellectual brand, carrying the spirit of a new and modern Vietnam, a convergence platform for intellectual connection, and a representative of Vingroup in the globalization roadmap, reaching out to the world

1.5 Business situation

March 2020, according to GfK - one of the most trusted market research companies in the world, after only 7 consecutive weeks, the Vsmart phone of VinSmart Company has officially reached 16.7% market share, entering the group of three brands with market share over 15% Vsmart's smartphones are recognized by GfK as dominating the popular phone segment, with prices ranging from 1 - 3 million VND Vsmart has received many reviews for its quality and features in its price range, modern design, sharp camera, battery capacity, fast charging outstanding in the segment According to Deputy General Director of VinSmart Joint Stock Company and Research

Mr Tran Minh Trung, with high market share growth, Vinsmart is on the right track when after only 15 months it has reached 16.7% market share The company's goal

is to continue to optimize products so that the quality is increasingly improved so that Vietnamese phones can not only develop domestically but also reach out to the world Up

to now, VinSmart has launched 5 TV models and 20 smartphone models to the market Although the company has announced to stop producing Vsmart TVs and smartphones, these items are still sold at retail establishments and maintain the same policies and customer support services

2 OVERVIEW OF VSMART PRODUCTS

2.1 About design

Most models are equipped with beveled tempered glass and a sturdy, high-quality frame, creating a luxurious feel when held in the hand Rabbit ear design and large screen size follow the trend of the times for a more vivid and impressive experience than ever

On the back of the product is the Vsmart logo including three flames The first two flames are “V” shaped The letter "V" is the symbol of Vingroup corporation, VinSmart company and Vsmart smartphone brand The third flame is shaped like the letter “S”, it represents the word “Smart” The fire is a symbol of the enthusiasm and desire of Vsmart members, wanting to create good quality products that meet the needs of domestic and international users Not only that, if you look closely you can see that Vsmart's logo resembles a lotus bud Lotus is the national flower of Vietnam, it symbolizes the Vietnamese soul and Vietnamese intelligence

2.2 About configuration and outstanding features:

Vinsmart models use Snapdragon and Mediatek™ chips Vsmart configuration is quite high, with good performance in its price range and stable operation with most daily tasks You can comfortably watch movies, listen to music, surf the web, and social networks, or play some games with heavy graphics One of the recently highly rated, well-configured phone models is Vsmart Active 3

Along with that is the exclusive VOS interface based on the Android platform with many interesting features You can choose gesture navigation, better security, screen with an impressive launcher, update some new applications, (Android launchers are applications that help change the phone interface or it will act as a personal virtual assistant on your smartphone)

One of the advantages that helps Vsmart stand firmly in the market and differentiate itself from competitors in the same price range is internal memory with huge capacity From 16Gb - 64Gb, supports external memory cards up to 256Gb You can freely download games, store data, download applications, and record many beautiful moments in life,

3 INTRODUCING THE TARGET MARKET OF VSMART

Vinsmart focuses mainly on the Vietnamese consumer market, with a tendency to expand

into international markets and intermediate markets (retail chains, electronics supermarkets):

Consumer market and international market: Vinsmart has launched many Vsmart product lines with affordable prices, high quality and good after-sales service, winning the trust of many Vietnamese customers in particular and the world in general

policies, and discounts for its agents because they can influence customers' buying behavior through consulting and product introduction

4 INTRODUCE TARGET CUSTOMERS

Vsmart is divided into 2 groups: individual consumers and organizational customers Organizational customers: Vinsmart has strategies, commission policies, and discounts suitable for its agents (electronics supermarkets, mobile retail stores, ) Individual consumer customers: for this group of customers, Vinsmart will rely on the customer's income level and ability to pay Specifically, Vinsmart has divided target customers into 2 groups:

Affordable customers: people with low incomes such as students, workers, etc In Vietnam, there are many different types of workers, and the number of unskilled workers is very large growing while mobile phones are gradually becoming an essential product That's why Vinsmart has launched Vsmart phones that combine the basic features of a smartphone with a unique and beautiful design at an affordable price for customers Suggest some Vsmart products that this group of customers can buy and experience: Vsmart Bee, Vsmart Bee Lite,

Mid-range customers: aimed at people with more stable incomes With the rapid

development of technology today, the demand for smartphones is also gradually increasing Consumers demand more outstanding features and new and more unique designs To meet the "delicious - nutritious - cheap" needs of Vietnamese consumers, Vinsmart constantly innovates and launches products that satisfy customer needs Serving this customer group can be Vsmart Aris, Vsmart Live, etc

5 COMPETITORS

Even though it is a "late-born" phone brand, Vsmart shows its superiority is not inferior to other competitors such as Apple, Samsung or brands from China such as Oppo, and Vivo when occupying the 4th "place" in smartphone market share after only

1 year of operation With such success, it seems that Vsmart is still a fairly new name to Vietnamese consumers, does not have much breakthrough potential and is subject to a lot

of fierce competition from companies Therefore, the Vsmart brand gradually disappeared from the market

6 CURRENT SITUATION

6.1 Current situation of socio-cultural environment

6.1.1 Cultural environment