Structure of the reS€arCH ó5 11k HT TH HH nrưệt 3
In addition to the introduction, conclusion and list of references, the thesis is divided into 5 chapters including:
Chapter 1: Introduction of the company Chapter 2: Theoritical framework
Chapter 3: Research MethodologyChapter 4: Data analysis and discussionChapter 5: Recommendations
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English
INTRODUCTION OF THE COMPANY
Form of ownership and manag€Ime€f( . - ô+ +++++Ê+++ee++eex+eeereeess 5
BestPrice Travel is a company with legal status, has its own seal at the bank, and operates under the authorization of the company's director, Mr KhucTan Dung The company has legal status from the date of issuance of business registration certificate.
Establishment and development pTOC©SS .- 5-5 <+++*+ssvsseerseeee 5
BestPrice Travel was established on May 26, 2010 with business license number 0104679428 at Hanoi Department of Planning and Investment Up to now, the company has been in operation for nearly 10 years, with a history just a moment, but for the company it is a long way with ups and downs through each stage to assert itself During the business process, the company has always tried to create a strong foothold in the market in the field of providing hotel booking services, booking air tickets, tours, Halong cruises not only for domestic guests but also international visitors BestPrice Travel needs to expand the input market, increase its scale to dominate the domestic and international tourist market across the country.
Therefore, on April 15, 2017, the director of the company, Mr Khuc Tan Dung, decided to establish a branch office in Ho Chi Minh City to meet the development needs of the company Up to now, BestPrice Travel has had its Head Office located in Hanoi and 02 branches located in 02 big cities, Ho Chi Minh City, Hai Phong city, and 03 offices foreign representative offices in Singapore, Japan and Korea Currently, the branch of BestPrice Travel in Hanoi is one of the most productive, efficient and profitable units in the company.
Up to now, through 10 years of establishment, construction and non-stop development, the company has gradually affirmed its brand, product and service quality in the domestic and foreign tourism market During the past time, BestPrice Travel has achieved the titles: "the best growth partner of Vinpearl", "top 10 most popular travel services in 2019", "top 10 famous brands - recognized brands" organized and appraised by the International Intellectual Property Institute in collaboration with the Vietnam Business Science Union’, since 2014 the company
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English has been continuously certified and evaluated by TripAdvisor as an excellent travel company, and many other prizes
Mission and vision of the COMPANY -. 5 S51 s+vEseeesreerereee 6 IS on
BestPrice Travel prides itself on delivering exceptional and dependable travel services at competitive prices To achieve this objective, the company collaborates with reputable airlines, local and international partners to offer a diverse selection of high-quality trips This approach ensures the best value for customers, empowering BestPrice Travel to stand out as the preferred travel agency globally.
According to the internal document on Culture of BestPrice Travel (2017, p.4), “BestPrice Travel’s vision is to become the leading travel agency in Asia. Professional, dedicated staff will have access to a powerful, reliable online system to provide customers with the most perfect and economical trips.”
Main products and Services - G3191 91 9111911 01 1 ng ng rưkt 6
BestPrice Travel provides provides product and services such as tours, air ticket booking, hotel reservation, cruise travel.
Tours: The company offers tailor-made tours not only for domestic customers but also for international customers in the form of solo travelers or groups with a wide range of tours, including including culinary tours, resort tours, conference tours (MICE), at destinations not only in the country but also in foreign countries such as Thailand, Bali, Korea, Russia, the Netherlands, Germany, France, Singapore, For retail customers, the company offers a variety of tour packages or creates a tour program to suit the group of guests according to the wishes of the customer.
Air ticket booking: Provide instant online booking and payment services for air tickets from domestic airlines (Vietnam Airlines, Jetstar Pacific, Bamboo Airways, Vietjet Air) Besides, the company also provides services with international airlines flying from or to Vietnam (Japan Airlines International, China Airlines, British Airways, Cathay Pacific, American Airlines, Korean Air, ) Offering customers the most convenient flight journey with a team of professional and enthusiastic consultants to help customers have the best experience at BestT.
Experience seamless hotel booking with our online service, connecting you to an extensive selection of top-quality accommodations across Vietnam, Thailand, Myanmar, Laos, and Cambodia Our commitment to providing exceptional experiences extends beyond our wide range of options, ensuring that every reservation meets our rigorous standards.
Cruise travel: Provide the best price cruise booking services for short trips to Ha Long Bay (from 1-2 days) to more day cruises with high-class experiences international travel, cross-country travel in Southeast Asian countries running
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English along the Mekong River But most of the time, the company focuses on the yacht segment in Ha Long more than anything.
Visa, train tickets, transfer services: Provide visas, train tickets, tourist cars at the request of customers.
Considerable AchieV€Im€TIES .- so + x21 9 vn nghe 7
Established and put into operation since 2010, BestPrice Travel has had a journey of more than 10 years of development with many important milestones.
2014: the Company was honored to receive the title of Top 10 Brands - Famous Brands 2014.
2015: Continuously received Certificate of Excellence from TripAdvisor so far.
2017: Developing self-guided tours — Being the best growth partner of Vinpearl ever since.
2019: Belonging to Top 10 most popular online travel services and Top most developed agents of domestic airlines.
2020: Top 3 companies with the most online bookings.
2022: Hanoi office moved to 57 Tran Quoc Toan, Tran Hung Dao ward,Hoan Kiem district, Hanoi.
Management structure of BestPrice 'TTaveè .- - -‹-+-s ô+ x+ssessseeseeee 7
The figure below illustrates the management structure of BestPrice Travel
Figure 1: Management structure of BestPrice Travel
(Source: BestPrice Travel Annual Report — 2021)
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English
The position of director of BestPrice Travel currently belongs to Mr Khuc Tan Dung As the individual who holds the position inside the organization with the highest level of power, you are responsible for making the most important choices for BestPrice Travel.
The director is directly responsible for running and managing all of the company's activities There are always plans that need to be coordinated with other departments of the company in order to establish goals and targets for each department This is done to ensure that the common goal of providing high-quality and dependable tourism services to customers is met, which in turn makes BestPrice Travel one of the leading travel companies in Asia In addition to keeping an eye on how the organization is run, he is responsible for making decisions regarding the company's business activities in a timely manner and modifying those plans as necessary.
The main duty is to conduct market research and research activities to build tours for domestic customers and Vietnamese customers traveling abroad The customer segment that the tour room targets is domestic and outbound In addition to building travel programs, BestPrice Travel also provides quality cruise booking, outbound combos (including air tickets and hotel rooms to Japan, Korea, Malaysia, ) for retail and group guests, and develops other travel agents Planning and implementing the work related to the implementation of tourism programs such as accommodation, transportation, ensuring the requirements on time and quality On the other hand, the tour department has to cooperate with marketing department in order to facilitate the selling process to bring revenue to the company.
The main task is to conduct market research and analysis activities through electronic portals and social networks to build tourism programs for international customers to Vietnam The inbound room at the company is receiving more attention with the hope of growing the number of international visitors in the near future.
The primary mission is to conduct market research activities, gather data from those activities, and then provide analysis in order to set up a system of domestic hotel products around popular tourist attractions Customers will find it easier to book hotel rooms through BestPrice Travel's platform thanks to a nationwide booking system that was developed in collaboration between the hotel's IT department and the hotel itself Not content to stop there, the hotel room also consistently updates the hotel's policies and provides the most recent information about locations in the immediate area of the hotel.
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English
Providing advisory services, attending to customers whose business requires them to travel by air, and selling airline tickets for domestic and foreign carriers that have flights to or from Vietnam are all part of what we do At the same time, provide consumers with support and advice on any issues that may arise throughout the process of booking tickets and other procedures related to airline tickets Ensure that the company's predetermined goals and sales are met In addition, this department will work closely with the marketing department of the company to devise strategies for increasing the company's revenue as well as develop new agents and flight tickets for business travelers.
The tourism department is responsible for market research, marketing plan development, and inter-departmental coordination to launch tourism products The department identifies client-centric products and generates innovative ideas for product offerings It also manages communication channels, maintains the official website, and creates promotional events and campaigns to enhance customer reach and brand visibility.
Taking care of the company's books and finances as part of one's duties there Statistics, financial planning for the company, and preparing corporate revenue reports for the corporation on a monthly and annual basis are all functions that fall under this person's purview Maintain a close eye on the utilization of company capital, company assets, asset management, and company capital, and report your findings Pay all required taxes and fees to the state, as well as file tax returns on a quarterly and annual basis, as required by the law.
In charge of recruitment and personnel management of the company such as labor contracts, consider regimes for employees in the company, emulation and reward, facilitate facilities, provide stationery for each employee departments in the organization to perform their duties well In addition, this department is also responsible for managing assets, equipment, stationery of the company, drafting documents related to personnel, and official documents of the Board of Directors The administrative department has a regime for applying and implementing recruitment and dismissal of employees, advising leaders, and transferring personnel from one department to another as appropriate
This is the division of the corporation that handles all of the company's internet technical difficulties Together with the marketing department, the IT
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English department is responsible for establishing, constructing, maintaining, and improving the company's websites in order to promote the brand, assist employees in rapidly updating essential information, and facilitate the sale of online travel programs Some functionalities on the firm's website are built independently by the IT department For instance, the IT department may create a search function for inexpensive plane tickets on the primary website of the company; they may also update the most popular inexpensive combos; and so on.
Overview of the tourism market in Vietnam of BestPrice Travel 10 1.9 Business conditions of BestPrice 'TTaV€ÌL - -.- cv seeeseree 12 CHAPTER 2: THEORETICAL FRAMEWORK .c ceôằ 19
Specifically, the number of international visitors to Vietnam in September
2022 reached 430,000 In the first nine months of 2022, the tourism industry has welcomed 1,650,000 international visitors.
In which, it is estimated that in September 2022, visitors come mainly by air, reaching more than 389,000 arrivals; by road reached more than 42,000 people.
Visitors from the Asian market still account for a large number of visitors to Vietnam with more than 313,000 arrivals in September 2022 In which, there are still mainly Korean visitors (119,636 arrivals), Japan (24,639 arrivals), Malaysia (24,521 arrivals), Cambodia (22,640 arrivals), Thailand (21,812 arrivals)
Following the Asian market, Europe contributed significantly to Vietnam's tourism in September 2022, with over 53,800 visitors Among European countries, England, Germany, and France were the most represented The Americas also had a notable presence, with 44,335 arrivals, primarily from the United States, which accounted for 37,166 visitors.
Demographic segmentation Gender: Male, Female
Age range: Above 22 years old (usually 22 to 55 years old) Income: Customers with medium to high income
Despite serving customers globally, the company primarily caters to local markets in major urban areas like Ha Noi, Hai Phong, and Ho Chi Minh City, where its head office and branches are situated These cities are central to Vietnam's economic activity The bulk of the company's international clientele resides in Asia, predominantly in China, India, and Thailand.
BestPrice Travel is targeting group clients, both outbound and inbound consumers (Laos and Thailand), via online sales channels in order to broaden its customer groups and expand its revenue sources Typically, products sold to this
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English demographic are bundles of services (hotels and air tickets) However, the company's products are not very appealing to this market, and there are few programs to attract customers; hence, they cannot compete with other travel agencies Therefore, the company's outbound and incoming client numbers are low.
BestPrice Travel is directing the company to focus on exploiting these two areas of the customer market by implementing numerous programs to promote advertising, alter products as needed, and open numerous advertising and marketing channels to contact with clients with greater need Additionally, the corporation will build a distinct sales department to its organizational structure in order to acquire these new consumers.
BestPrice Travel, a seasoned travel company with a decade of expertise, employs a strategic approach that leverages its established strengths: a profound understanding of the local market and a deep comprehension of domestic clients' purchasing patterns This strategy is implemented through substantial investments in the caliber of its offerings, ensuring the delivery of premium products and exceptional services to its clientele.
The company has a comprehensive understanding of the Vietnamese market, picks and collaborates with reliable suppliers, continually evaluating items to provide consumers with optimal and stable services BestPrice Travel guarantees refunds if advertised tour quality is not met.
80% of Vietnamese online shoppers are still accustomed to paying with cash BestPrice Travel recognizes this, and employs a number of payment ways to maximize consumer convenience and comfort: bank transfer, online, and cash on delivery (free of charge) of tickets to customers’ houses.
In addition to constructing a tourism ecosystem and a "one-stop shop" approach, the company collaborates with other recognized partners to offer package support to consumers Simply visit the website or go to BestPrice Travel to acquire airline tickets, hotel rooms, tours, and yachts In addition to being a distinctive product of the company, travel vouchers enable customers to enjoy the service Best service at a discount price.
In addition to continuously optimizing the website system and the shopping procedure, BestPrice Travel focuses on the human element at all times.
Vietnam boasts ample human resources, but the key lies in enhancing customer service quality Satisfied customers foster business longevity, with customer service being a crucial "soft power" that distinguishes successful companies By investing in employee training, specifically in counseling and customer service, tourism services in Vietnam can thrive.
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English
Following market research and segmentation, BestPrice Travel selects the target market based on the plan to concentrate on a specific market segment, which is the following client group:
- Age: between 22 and 60 years of age
- Belonging to the continent: Europe is mostly composed of
- Nation: United Kingdom, Norway, Sweden, Finland, etc.
- Profession: professors, retired officials, merchants, and others
- Purpose of tourism: This topic travels to relieve stress, enjoys adventure, has unforgettable experiences, seeks happiness, and also visits and learns about local culture are the standards established by the tourism program.
The company prioritizes acquiring new customers within the demographic that currently constitutes a substantial portion of its client base This target group demands diverse travel programs and services With a flexible approach, the organization welcomes new patrons and tailors its services to meet their specific travel needs By actively seeking out and engaging with clients, the company maintains a strong foundation for growth.
Identifying the target consumer market assists organizations in focusing their efforts in this area BestPrice Travel is progressively constructing a segmentation plan and selecting various market groups in order to produce the most appropriate tactics for each type of market, consequently promoting development and inventing continuously to enhance the product quality of goods and services.
1.9 Business conditions of BestPrice Travel
Human resource (HR) is a vital aspect of a business, particularly in the tourism and travel industry, as it impacts the business's performance Therefore, possessing a human resource that guarantees both quality and quantity is crucial for tourism firms.
Table 1: HR of BestPrice Travel in the period of 2019 - the first 7 months of
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English
(Source: HR Department of BestPrice Travel)
From 2019 to 2021, the company's total number of employees tends to decline (decreased by 17 people) Due to the convoluted evolution of the Covid-
Marketing MIX 018
The marketing mix is a combination of manageable marketing instruments that firms can employ to advertise their products or services to their target consumers Neil Borden proposed the notion in the 1960s, while E Jerome McCarthy popularized it in his 1960 book "Basic Marketing: A Management Perspective." McCarthy asserts that the marketing mix consists of four essential components: Product, Pricing, Location, and Promotion.
The marketing mix has gained significant attention, with researchers analyzing its impact on marketing objectives and its adaptability to diverse business and customer requirements Kotler (1984) emphasized the crucial role of the marketing mix in achieving marketing goals, highlighting the importance of aligning the mix with target customer needs.
Several academics have investigated the influence of each component of the marketing mix on consumer behavior Kotler and Armstrong (2016) argued, for instance, that the Product aspect of the marketing mix is the most influential factor in the purchase decision-making process, while the Price element is the second most influential factor.
2.2.1 The element of the 4Ps marketing mix model
The marketing mix is a set of controllable marketing tools that a company uses to create the desired response from its target market The marketing mix consists of four key elements: product, price, promotion, and place (Kotler & Armstrong, 2016) The place element, also known as distribution, is the process of getting the product to the consumer This includes all aspects of the channel of distribution, such as transportation, warehousing, and retailing The place element is a critical part of the marketing mix because it impacts the availability and accessibility of the product to the target market.
Previous researchers have highlighted the importance of the place element in the marketing mix Borden (1964) developed the concept of the marketing mix and emphasized the need for companies to carefully select their distribution channels to reach their target market The place element helps to ensure that the product is available and accessible to the target market, which is critical for achieving customer satisfaction and providing convenience for consumers (Kotler
& Armstrong, 2016) Effective distribution channels can also help companies gain a competitive advantage in the market.
Kotler and Keller (2016) highlight the different distribution channels available to companies, such as direct marketing, indirect marketing, and multichannel marketing Direct marketing involves selling the product directly to the consumer, while indirect marketing involves selling the product through
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English intermediaries, such as wholesalers, distributors, or retailers Multichannel marketing involves using a combination of direct and indirect marketing channels.
The selection of the appropriate distribution channel is critical for the success of the marketing strategy Companies need to carefully consider several factors when selecting their distribution channels Customer needs and preferences are one important factor that companies need to consider (Kotler & Keller, 2016). The distribution channel should be able to reach the target market effectively and efficiently Competition is another factor that companies need to consider when selecting their distribution channels The distribution channel should be able to provide a competitive advantage to the company Regulatory requirements are another important factor that companies need to consider when selecting their distribution channels (Kotler & Keller, 2016).
Effective channel management is critical to the success of the marketing strategy Stern (1997) provides a detailed analysis of the different channel structures available to companies and the factors that influence the choice of channel Effective channel management involves several activities, such as selecting the appropriate channel, managing the relationships with intermediaries, and evaluating the performance of the channel.
The place element of the marketing mix significantly impacts the overall strategy, facilitating product accessibility for the target market Careful distribution channel selection is essential, and researchers have highlighted factors influencing this decision Successful channel management is crucial for implementing the marketing strategy effectively.
The promotion element of the marketing mix is a critical component of any marketing strategy, which aims to create awareness, interest, desire, and action among the target market Promotion involves the use of various tools and techniques to communicate with customers, generate demand, build brand loyalty, and create a positive image and reputation for the company (Kotler & Armstrong, 2016) The promotion element consists of four sub-elements, namely, advertising, personal selling, sales promotion, and public relations, each of which plays a unique role in achieving the company's marketing objectives.
The promotion element is essential for creating brand awareness, generating demand, and communicating with customers Advertising is an important aspect of promotion that can help create a brand image and build brand loyalty. Advertising allows companies to reach a large number of customers through mass media, such as television, radio, print, and online platforms, and convey a message about the product or service that resonates with the target audience (Belch & Belch, 2020) Personal selling can help companies communicate with customers on a one- to-one basis and provide personalized information and recommendations that address their needs and preferences Personal selling is particularly effective in
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English selling high-end products, such as luxury goods and services, where the salesperson can provide a high-touch experience that builds trust and credibility with the customer Sales promotion can help companies generate short-term demand and increase sales by offering discounts, coupons, rebates, contests, and other incentives that encourage customers to take action (Belch & Belch, 2020). Sales promotion is particularly effective in retail and e-commerce environments where price sensitivity is high, and customers are more likely to switch brands based on short-term benefits Public relations can help companies create a positive image and reputation in the market by leveraging non-paid communication tools, such as press releases, sponsorships, and events, to engage with customers, investors, media, and other stakeholders Public relations is particularly effective in building brand equity, customer loyalty, and social responsibility, which can have long-term benefits for the company's bottom line (Kotler & Armstrong, 2016).
Advertising is one of the most widely used forms of promotion, and it involves the use of mass media to communicate with customers Advertising can help create a brand image, generate demand, and build brand loyalty (Belch & Belch, 2020) Advertising can take many forms, such as television, radio, print, outdoor, online, and mobile, and it can be targeted to different demographics, geographies, psychographics, and behaviors Effective advertising should be designed to capture the attention of the target market and communicate a clear message about the product or service Advertising can be expensive, and companies need to measure its effectiveness by using various metrics, such as reach, frequency, engagement, conversion, and return on investment.
Personal selling involves the use of salespeople to communicate with customers on a one-to-one basis (Kotler & Armstrong, 2016) Personal selling is a highly effective form of promotion because it allows companies to provide personalized information and recommendations to customers Salespeople can also answer questions, address concerns, and build relationships with customers. Effective personal selling requires salespeople to have a thorough understanding of the product or service and the target market Personal selling can take many forms, such as face-to-face, phone, video, and chat, and it can be used at different stages of the buying process, such as prospecting, qualifying, presenting, closing, and follow-up Personal selling can be expensive, and companies need to measure its effectiveness by using various metrics, such as conversion rate.
Sales promotion is a form of promotion that is designed to generate short- term demand and increase sales (Belch & Belch, 2020) Sales promotion can take many forms, such as discounts, coupons, rebates, contests, and other incentives that encourage customers to take action Effective sales promotion should be designed to create a sense of urgency and scarcity, so that customers are more likely to take advantage of the offer Sales promotion can be expensive, and companies need to measure its effectiveness by using various metrics, such as redemption rate, lift in sales, and return on investment.
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English
RESEARCH METHODOLOGY - 2 ca 27
Research Design and Approach eceeceecesseeeseeeceseeeaecceseeeeseeeaeeeeeeseens 27
This study employed a quantitative and qualitative research approach to collect and analyze data on the factors related to marketing mix that influence the booking decisions of international customers at BestPrice Travel The research design used in this study was a cross-sectional survey, which allowed for the collection of data from a sample of participants at a single point in time A survey questionnaire was used to collect data from the participants, with both closed- ended and open-ended questions.
Data Collection Methods ce ceesesseessecsecsseessecsecsseessecaecseesseessecsaeeneens 27
The primary data collection method used in this study was a survey questionnaire The questionnaire was developed based on the research objectives and questions, as well as the literature review The questionnaire included questions related to the marketing mix elements, including product, price, place, and promotion, as well as questions related to the participants’ demographic information and booking behaviors.
The survey questionnaire was distributed online to a sample of 100 international customers of BestPrice Travel Participants were selected using a non-probability convenience sampling technique, as they were easily accessible through the company's customer database The survey questionnaire was pre- tested with a small sample of participants to ensure clarity, accuracy, and validity of the questions.
The study gathered secondary data from various sources, such as academic journals, reports, company documents, and online resources.
The target population for this study was all international customers of BestPrice Travel who had booked travel services from 12/2022 to 3/2023
A total of 100 participants were selected for this study By surveying 100 customers, a sufficiently large sample size can be obtain BestPrice Travel aimed to minimize the risk of any sampling errors or biases With a sample size of 100,
A reasonable level of precision can be obtained BestPrice Travel obtained while still being able to collect and analyze the data in a reasonable amount of time.
The sample consisted of participants from various regions of the world who book with BestPrice Travel, including Europe, Asia, North America, and South America The sample also included participants of different ages, genders, and
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English income levels, to ensure diversity in the sample and representativeness of the target population.
Data was collected through a structured questionnaire The questionnaire consisted of two sections The first section gathers demographic information about the respondents, such as age, gender, education level, and income The second section focuses on the importance of marketing mix elements to international customer, including product, price, promotion, place, and people A five-point Likert scale will be used to measure the respondents' perceptions and opinions on the marketing mix elements, with 1 representing strongly disagree and 5 representing strongly agree The score in a 5-point Likert scale for each factors is measured by the following formula:
X= (ax1+bx2+cx3+dx4+ex5)/n X: Effect measure x1, x2, x3, x4, x5: the quantity of focuses an understudy grants for a variable (going from 1 to 5, individually). a: the quantity of individuals picking 1 b: the quantity of individuals picking 2 c: the quantity of individuals picking 3 d: the quantity of individuals picking 4 e: the quantity of individuals picking 5 n: the total number of respondents
Ethical considerations were taken into account throughout the research process The participants were informed of the purpose of the study, their right to withdraw from the study at any time, and their anonymity and confidentiality The participants’ data were kept secure and used only for research purposes The study was approved by the university's ethical review committee.
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English
CHAPTER 4: DATA ANALYSIS AND DISCUSSION
This chapters presents the results of the data analysis based on the responses of 100 customers of BestPrice Travel The aim of this study is to investigate the influence of each element of the marketing mix of BestPrice Travel and its various factors, as perceived by its customers The marketing mix is a crucial concept in marketing management and comprises the key elements that firms use to influence customer decision-making, namely product, price, promotion, and place The effectiveness of each element of the marketing mix depends on various factors
To make these statistics more understandable, they can be transformed into a 5-point Likert scale Based on the interval, 1.00-1.80 can be categorized as “not important at all”, 1.81-2.60 as “slightly important”, 2.61-3.40 as “moderately important”, 3.41-4.20 as “important”, and 4.21-5.00 as “extremely important”.
Table 4: Evaluation Criteria for Likert Scale Questions
This chapter will address 2 research questions:
(1) What are the marketing mix elements mainly used in BestPrice Travel?
(2) What is the level of importance of the marketing mix elements to international customers’ booking decisions at BestPrice Travel?
Data Analysis Method - ô+ + k9 HH HH ng 28
Data was collected through a structured questionnaire The questionnaire consisted of two sections The first section gathers demographic information about the respondents, such as age, gender, education level, and income The second section focuses on the importance of marketing mix elements to international customer, including product, price, promotion, place, and people A five-point Likert scale will be used to measure the respondents' perceptions and opinions on the marketing mix elements, with 1 representing strongly disagree and 5 representing strongly agree The score in a 5-point Likert scale for each factors is measured by the following formula:
X= (ax1+bx2+cx3+dx4+ex5)/n X: Effect measure x1, x2, x3, x4, x5: the quantity of focuses an understudy grants for a variable (going from 1 to 5, individually). a: the quantity of individuals picking 1 b: the quantity of individuals picking 2 c: the quantity of individuals picking 3 d: the quantity of individuals picking 4 e: the quantity of individuals picking 5 n: the total number of respondents
Ethical Considerations - - ôcv HH TH HH ng tr 28
Ethical considerations were taken into account throughout the research process The participants were informed of the purpose of the study, their right to withdraw from the study at any time, and their anonymity and confidentiality The participants’ data were kept secure and used only for research purposes The study was approved by the university's ethical review committee.
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English
CHAPTER 4: DATA ANALYSIS AND DISCUSSION
This chapters presents the results of the data analysis based on the responses of 100 customers of BestPrice Travel The aim of this study is to investigate the influence of each element of the marketing mix of BestPrice Travel and its various factors, as perceived by its customers The marketing mix is a crucial concept in marketing management and comprises the key elements that firms use to influence customer decision-making, namely product, price, promotion, and place The effectiveness of each element of the marketing mix depends on various factors
To make these statistics more understandable, they can be transformed into a 5-point Likert scale Based on the interval, 1.00-1.80 can be categorized as “not important at all”, 1.81-2.60 as “slightly important”, 2.61-3.40 as “moderately important”, 3.41-4.20 as “important”, and 4.21-5.00 as “extremely important”.
Table 4: Evaluation Criteria for Likert Scale Questions
This chapter will address 2 research questions:
(1) What are the marketing mix elements mainly used in BestPrice Travel?
(2) What is the level of importance of the marketing mix elements to international customers’ booking decisions at BestPrice Travel?
DATA AND DISCUSSION cẶeeehe 29
The importance of the marketing mix elements to international customers’
Understanding the significance of marketing mix elements is crucial for BestPrice Travel in catering to its international clientele The marketing mix elements enable BestPrice Travel to tailor its marketing strategy effectively, addressing the unique needs and expectations of these customers This approach forms the foundation of their success in reaching and engaging with their global audience.
By doing so, the aim is to gain insights into the role of the marketing mix in the context of international marketing and its impact on the success of businesses like BestPrice Travel.
4.1.1 The importance of the product element in the marketing mix to international customers’ booking decision at BestPrice Travel
The statistic presented here shows the level of importance of various features in tour packages to inbound customers The data was collected using a survey that asked customers to rate the importance of each feature on a scale of 1 to 5, with 1 being "not important" and 5 being "extremely important."
The survey found that the most important feature for customers was the quality of accommodations, with 44 customers rating it as extremely important and
40 rating it as important, for a combined score of 4.21 out of 5 This suggests that customers value comfortable and well-maintained accommodations above other factors when choosing a tour package.
The second most important feature was the destination offered, with 27 customers rating it as extremely important and 50 rating it as important, for a combined score of 3.85 out of 5
The variety of activities was rated as less important, with only 16 customers rating it as extremely important and 37 rating it as important, for a combined score of 2.65 out of 5 This may suggest that customers are more interested in the destinations and accommodations offered in a package than in the activities.
Transportation options were also rated as less important, with only 10 customers rating it as extremely important and 40 rating it as important, for a combined score of 2.5 out of 5 This may indicate that customers are willing to be flexible with their transportation options as long as other features, such as accommodations and activities, are satisfactory.
Finally, the duration of the package was rated as moderately important, with
Customer feedback indicates that the duration of a product is a moderate concern, with a combined score of 2.35 out of 5 While 31 customers rated it as extremely important, 16 found it merely important, suggesting that other factors hold greater significance in their decision-making process.
In conclusion, this survey suggests that when marketing tour packages to inbound customers, tour companies should prioritize the quality of accommodations and destination While variety of activities and transportation options are also considerations, they are not as important as these other features. Additionally, duration may be a factor to consider, but it is not as crucial as the other elements in the package.
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English
Figure 2: The importance of various features in product element to international customers’ booking decision at BestPrice Travel m: mm mms M4 me
Quality of Destination offered Variety of activities Transportation options Duration of the package accommodations
4.1.2 The importance of the price element in the marketing mix to international customers’ booking decision at BestPrice Travel
The bar chart determine the importance of the price element of their marketing mix to inbound customers when bookinga tour.
The price of the package compared to other tourism companies is an essential factor for customers when booking a tour Based on the data, 54 customers rated this feature as extremely important, while 27 customers rated it as important Meanwhile, only 1 customer rated it as not important, 10 customers as slightly important, and 7 customers as moderately important The score on likert scale is 4.24 out of 5 This indicates that the majority of the customers believe that the price of the package compared to other tourism companies is a crucial factor when selecting a tour package.
The availability of discounts or promotions is another essential factor that customers consider when booking a tour package The data shows that 42 customers rated it as important, while 37 customers rated it as extremely important.
14 customers rated it as moderately important, and 6 customers rated it as slightly important Interestingly, no customers rated this feature as not important The high number of votes for extremely important and important categories indicates that customers value discounts and promotions when selecting a tour package with the combined score of 4.1 out of 5.
Payment options hold significant importance in enhancing customer satisfaction during tour package bookings Data analysis reveals that 33 customers rated this feature as 'important,' 21 considered it 'slightly important,' and 37 perceived it as 'moderately important,' indicating the majority's moderate to high regard for payment flexibility Notably, 6 customers expressed 'not important,' while only 2 deemed it 'extremely important,' indicating a small but present group that finds payment options less vital for their booking decisions Overall, the feature's combined score of 3.04 out of 5 suggests its moderate value to customers.
Refund and cancellation policies are crucial features for customers as they provide them with flexibility and assurance Based on the data, 36 customers rated this feature as important, while 34 customers rated it as slightly important 21 customers rated it as moderately important, and only 3 customers rated it as
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English extremely important Six customers rated it as not important The results indicate that while the majority of the customers value this feature, a considerable number still consider it less important with the combined score of arpproximately 3.0 out of 5.
When it comes to making a decision about which tour package to purchase, the results of the survey shed light on the significance of the price component of the marketing mix A sizeable portion of customers ranked the availability of discounts or promotions as extremely important, as did the price of the package in comparison to that of other travel companies According to these findings, consumers place a high importance on both price and value for their purchasing decisions Customers can be attracted to and kept as clients of BestPrice Travel by focusing on providing them with prices that are competitive in the industry as well as appealing discounts or special offers.
On the likert scale, payment options and policies regarding refunds and cancellations received lower ratings, which indicates that customers are less concerned about these aspects.
Figure 3: The importance of various features in the price element to international customers’ booking decision at BestPrice Travel
Price of the package Availability of discounts or Payment options Refund/cancellation policies compared to other tourism promotions company
4.1.3 The importance of the promotion element in the marketing mix to international customers’ booking decision at BestPrice Travel
The survey asked customers to rate the level of importance of four features using a 5-point Likert scale, where 1 is "not important" and 5 is "extremely important." The features included promotional offers (e.g., discounts, special packages), the quality of promotional materials, the clarity of promotional offers and the relevance of promotional offers to customers’ needs/interests.
Nguyễn Hoàng Công Sơn - 11196192 - 61A.Business English
Of the four features, promotional offers were considered the most important by the surveyed customers Specifically, 44 customers rated promotional offers as
"extremely important," while 26 customers rated them as "important." Meanwhile, only six customers considered promotional offers as "not important." The combined score for this feature is 3.96 out of 5.