unit 2 marketing processes and planning orientation of plans and goals of masan group

According to the AMA, "marketing is a set of activities and processes for creating, communicating, delivering and exchanging services of value to customers, partners, and society at larg

ASSIGNMENT 1 FRONT SHEET

Unit number and

submission 26/06/2023

Re-submission Date Date Recei ed v 2nd

submission

 Summative Feedback:   Resubmission Feedback:

Grade: Assessor Signature: Date: Internal Verifier’s Comments:

3

Signature & Date:

Table of contents

I INTRODUCTION 6

II AN OVER VIEW OF THE MARKETING PROCESS TO REFLECT THE KEY ROLES OF MARKETING 6

2.1 Definition of Marketing 6

2.2 Market and customer needs 6

2.3 Customer value-oriented marketing strategy 7

2.3.1.Select target customers 7

2.3.2 Choice of value proposition 8

2.3.3 Marketing management orientation 8

2.4 Comprehensive marketing strategy 10

2.4.1 Products 10

2.4.2.Price 12

2.4.3.Place 13

2.4.4 Promotion 13

2.5 Nurturing profitable connections and delighting customers 16

2.5.1.Identify customer needs 16

2.5.2.Survey of customer satisfaction 16

2.5.3.Marketing strategy for customer groups 16

2.6 Capture value from customers to generate profits and customer equity 17

2.6.1 Review customer experience 17

2.6.2.Don't just focus on price 17

4

2.6.3.Collect customer data 17

2.6.4.Focus on loyal customers 18

2.6.5.Segmentation of customer base 18

III ANALYSIS OF THE CORPORATION'S STRATEGIC PLANNING PROCESS 18

3.1 Orientation of plans and goals of Masan Group 18

3.1.1 Brief introduction of Masan Corporation 18

3.1.2 Organizational structure of Masan Corporation 19

3.2 Introduction to the functions and duties of the marketing department 21

3.2.1 Research, product development and market expansion 21

3.2.2 Build and develop brand image 22

3.2.3 Establish a relationship with the media 22

3.2.4 Promote company products to customers 22

3.2.5 Plan and execute Marketing strategies 23

3.3 Marketing influence and relationships with other functions 23

3.3.1 Relationship with the human resources department 23

3.3.2 Relationship with the finance and accounting department 23

3.3.3 Relationship with the operational decision-making department 24

3.3.4 Relationship with the supply capacity development department 25

3.3.5 Relationship with the organizational capacity development department 25

3.4 Business environment analysis 26

3.4.1 Some factors in the Macro environment 26

3.4.2 Some factors of the Microenvironment 28

3.4.3 Analysis and construction of matrix SWOT 30

IV CONCLUSION 34

5

I INTRODUCTION

The consumer goods industry in Vietnam in general has been growing rapidly in recent years People consume more and more consumables in life because their income is getting higher and higher thanks to economic growth However, their consumption and shopping habits have changed significantly

in the past year because of the impact of the 4th outbreak Most notably, the shift from direct to online purchasing behavior line

In that context, the consumer industry in general has also made certain changes In the first quarter

of this year, prices of some essential commodities also changed erratically This has more or less affected shoppers and the market in general The retail value of consumer goods and services in the first quarter of “

2022 is estimated to total VND 1,318 trillion Compared to the same period in 2021, this number increased by 4.4% innovativehub, 2022) [3] Thus, we see that the consumer goods industry in Vietnam ”(

is playing an important role in helping businesses operate and achieve revenue efficiency Within the framework of the report, the definition of marketing will be clarified In addition, the FMCG industry in Masa Group will also be mentioned, including information such as: Functions of the marketing department, each relationship of other departments with the marketing department

MARKETING

2.1 Definition of Marketing

Marketing has many different definitions and interpretations According to Philip Kotler,

“marketing is a form of human activity aimed at satisfying their needs and wants through exchange” (Philip Kotl , 2018 er )

According to the AMA, "marketing is a set of activities and processes for creating, communicating, delivering and exchanging services of value to customers, partners, and society at large" (AMA, 2023) [1] According to Tran Minh Dao (2014): “Marketing is the process of working with markets to conduct exchanges to satisfy human needs and wants It can also be understood, Marketing is a form of human activity (including an organization) aimed at satisfying needs and wants through exchange.( Tran Minh Dao, 2014) [6]

6

)

In summary, marketing is a form, a bridge between suppliers and customers with needs

2.2 Market and customer needs

Customer needs are the wants, requirements, and expectations that consumers have when they consider purchasing a product or service These needs can be classified into different categories, such as functional needs, emotional needs, and social needs Functional needs are basic requirements that customers have for a product or service, such as the ability to perform a particular function or solve a particular problem Affective needs are desires that customers have for a product or service that go beyond its functional requirements These needs may be related to the customer's self-esteem, sense of security, or desire for convenience or entertainment Social needs are desires that customers have to belong to a particular group or community or to be perceived by others in a certain way Currently, in the consumer

goods market, price is the basic factor in shaping the buying mindset of customers In fact, 60% of customers consider price the first priority in product selection, and 81% of shoppers consider price comparisons between brands extremely important

Information:

A product with complete and attractive information about it will easily impress and attract customers Take advantage of a variety of media channels to satisfy customers with essential information needs Service:

This is also one of the great needs of customers According to a survey, 51% of customers say they will never interact with a business again if they have a bad experience with customer service

Image and status:

Customers will always prefer a product that already has an image as well as shows its individuality and position in society

2.3 Customer value-oriented marketing strategy

After the company has fully understood the market and consumers, marketing management moves

7

on to design a marketing strategy that focuses on customer value

The marketing manager's goal is to engage, retain, and expand the target audience by creating, delivering, and communicating superior customer value

2.3.1.Select target customers

The company must first decide who it will serve, by dividing the market into customer segments (market segments) and choosing which segments to pursue (marketing objectives)

Some see marketing management as finding as many customers as possible and increasing the demand for the product or service But marketing managers know that they can't satisfy all types of customers

Trying to serve all customers can lead to not serving anyone well Instead, the company just wanted to pick out customers it could serve well and profitably

2.3.2 Choice of value proposition

Businesses must also decide how to serve their target customers how to differentiate the brand –and position itself in the market A brand's value proposition is a set of values and benefits benefits that it promises to bring to consumers to satisfy their needs

2.3.3 Marketing management orientation

Which philosophy will guide these marketing strategies There are 5 distinct concepts that organizations rely on to design and execute their marketing strategies, which are 5 concepts of: production, product, sale sales, marketing and marketing for the benefit of the Society

a) Production-oriented concept

The production-oriented concept assumes that customers prefer products that are always available and affordable Therefore, marketing management should focus on improving production and distribution lines more effectively this is a concept as old as the Earth This concept is still useful in some cases For example, Lenovo dominates the Chinese market, which is fiercely competitive and very price-sensitive thanks to cheap labor, highly efficient production lines, and widespread distribution systems However, this orientation is easy to lead to marketing myopia

b) Product-oriented concept

This oriented concept assumes that customers prefer products with the best quality and performance, along with many innovative functions According to this concept, marketing strategy will focus on continuous product improvement Product quality and innovation play an important role in most marketing strategies However, just focusing on the product can lead to myopia marketing

c) Sales-oriented concept

Sales concepts Many companies follow the sales concept, which assumes that consumers will not buy enough of the company's products unless the company commits to selling on a large scale and has a

8

growth effort Selling ideas are often applied to goods that cannot be purchased or that the buyer does not think they will buy, such as life insurance or blood donations These professions must follow up on leads and sell based on its benefits However, such aggressive selling carries high risks It focuses on generating sales conversions rather than building long-term and profitable relationships The intent will often be to sell what the company makes instead of what the market wants It assumes that customers will be enticed

to buy products they like Or if they don't like it, chances are they'll forget about the disappointment and buy again later These are often poor assumptions

d) Marketing-oriented concept

Marketing concepts hold that achieving the goals of an organization depends on understanding what the market needs and wants and provides more satisfaction than other competitors According to

marketing concepts, a focus on customer value is the path to sales and profits Instead of a philosophy that focuses on selling and creating products, marketing concepts are a philosophy of customer perception and feedback at the heart These jobs don't find the right customers for their products but the right products for their customers

( figure: Principles of Marketing Philip Kotler 2018 ) –The concept of selling has an inside-out perspective It starts with the manufacturing plant, focusing on the company's existing products, calling for sales and distribution to generate revenue It focuses on persuading customers getting short-term sales and not caring who buys and why they buy –Contrary to that, marketing concepts take an outside-in perspective As Herb Kelleher, the colorful founder of Southwest Airlines, once said, “We don't have a marketing department; We have a customer department “The concepts of marketing begin with a well-defined market, focus on customer needs, and integrate all marketing activities affecting customers In turn, it makes profits by creating relationships with the right customers based on customer value and satisfaction

Implementing the concept of marketing is often more than simply meeting the clear wants and needs of customers Companies tend to do in-depth research on customers to learn about their wants, gather ideas about new products and testing product demonstrations Such customer-driven marketing usually does well when the need is clearly defined and when the customer knows what they want However, in many cases the customer doesn't know what they want or might know As Henry Ford once

9

remarked, “If I asked people what they wanted, they would say faster horses.”

e) Concept Marketing serving Society

The social marketing concept questions whether pure marketing ignores possible conflicts between the short-term desires and long-term welfare of consumers The marketing concept serves society posits that strategy Marketing must deliver value to customers in a way that maintains or improves the welfare of consumers and the welfare of society It is called sustainable marketing, marketing that is socially and environmentally responsible, meeting the current needs of consumers and businesses while preserving or enhancing the ability of future generations to meet their needs Even more broadly, many leading business owners and marketing thinkers are now preaching the concept of shared value, acknowledging that social needs are more than just economic, market-defining needs The concept of value sharing focuses on how

to create economic value as well as create social value A growing number of companies known for their tough approaches to business — such as GE, Dow, Google, IBM, Intel, Johnson & Johnson, Nestlé, Unilever, and Walmart — are rethinking interaction between society and company performance They are not only interested in short-term economic benefits, but also in the interests of customers, the depletion of natural resources that are important to their business , the viability of key suppliers and the economic well-being of the communities in which they operate

A famous marketer calls this Marketing 3.0 “Marketing 3.0 organizations are value driven,” he said “I'm not talking about value driving I'm talking about having multiple values, where the value I care about is the state of the world." Another marketer calls it purposeful marketing “The future of profit is the goal,” he said

( figure : Principles of Marketing Philip Kotler 2018 ) –

2.4 Comprehensive marketing strategy

A company's marketing strategy will dictate what customers it needs to serve and how it creates value for customers Then, marketers build an integrated marketing program that actually delivers the intended value to the customer This marketing program builds customer relationships by turning strategy into action It includes the marketing mix, a set of marketing tools that a company uses to execute its strategy The main tools in the marketing mix are divided into four broad groups called the 4Ps: product,

10

price, place, and promotion To deliver its value proposition, a company must create market offerings (products) that satisfy customer needs The company must then decide how much to charge for that product or service (price) and where users can access that offering (place) Ultimately, the company must engage with target consumers, communicate about the offering, and convince users of its value (promotion) The company must “mix” each individual marketing mix into its marketing program comprehensive mix to communicate and deliver the intended value to selected customers

2.4.1 Products

First of all, keep in mind that a product development strategy is not a list of features about a company's new or existing product