mm1345 final project group 8courses marketing management plan marketing mix for pnj in 2022

Among the current businesses in the market, PNJ is known as one of the leading gold, silver and gemstone trading enterprises in Vietnam.. PNJ pursues the goal of becoming the leading jew

UNIVERSITY OF TECHNOLOGY AND EDUCATION

FACULTY FOR HIGH QUALITY TRAINING

UNIVERSITY OF TECHNOLOGY AND EDUCATION

FACULTY FOR HIGH QUALITY TRAINING

JOB BOOKING SCHEDULE Major: Industrial Management Course: 2019 School year 2021 — 2022

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PREAMBLE

Before the threshold of integration, businesses that want to survive and develop must have the right business strategies, development strategies, market strategies, competitive strategies, and marketing strategies for the product line Creativity is suitable for the ability of the business and suitable for the actual situation of the market However,

to improve the efficiency of business activities, marketing strategy is an mmportant part of the business strategy of the business

Therefore, in order to survive and develop long-term, enterprises need to carry out production and business in the direction of the market, according to customers and apply marketing to business practices Because when making business and or management decisions, people cannot lack knowledge about the market - customers and their needs, as well as how to approach customers and satisfy those needs

Among the current businesses in the market, PNJ is known as one of the leading gold, silver and gemstone trading enterprises in Vietnam PNJ pursues the goal of becoming the leading jewelry manufacturing and retailing company in Asia, the number one position in the middle and high-end jewelry market segments in Vietnam When the economy integrates, people's living standards are improved, accompanied by an ever- changing trend, consumers have increasingly high requirements for products mn terms of quality, design and must keep up with current trends Grand Grasping that need, PNJ must find a suitable direction to affirm its position in the market Realizing the importance of PNJ's marketing research analysis, the authors are interested in learning And the authors came to the decision to plan the analysis and launch a new product line for PNJ gold, silver and gems joint stock company 1n 2022

The content presented by the author group in the presentation 1s:

¢ Overview of PNJ

e Market segmentation analysis, target market selection and product positioning (STP)

e 4Ps (Strategy planning and analysis)

¢ Budget and Timeline for the company m 2022

CHAPTER 1 OVERVIEW OF PNJ 1.1 About Phu Nhuan Jewelry Joint Stock Company

PNJ logo — the number I jewelry brand in Vietnam (Source: PNJ)

- Head office: 170E Phan Dang Luu, Ward 3, Phu Nhuan District, City Ho Chi Minh, Vietnam

— Telephone: (84-28) 3995 1703 — Fax: (84-28) 3995 1702

— Email: pnj@pnj.com.vn — Website: www.pnj.com.vn

- Main lines of business:

® Producing and trading in gold, silver, precious stones, fashion accessories, and souvenirs

e Trading in watches and buying and selling gold bars

® Diamond, gemstone, and precious metal inspection services

® Real estate business

— Stock code: PNJ

1.2 The process of formation and development

On April 28, 1988, Phu Nhuan Jewelry Store was born

In 1994 and 1998, PNJ established branches in two key economic centers, Hanoi and Da Nang

In 1999, opening a branch in Can Tho, PNJ completed the presence of 3 major economic centers

In 2001, the brand PNJSilver was born, and in 2005 it re-launched a new image

In 2004, PNJ became Phu Nhuan Jewelry Joint Stock Company PNJ won the title

of Top 500 Leading Retail Enterprises in Asia - Pacific, received the First Class Labor Medal

In 2005, the high-end jewelry brand CAO Fine Jewelry was born

In 2008, PNJ was the jeweler and crown sponsor of the Miss Universe pageant, held in Vietnam

In 2008 - 20 years of establishment, PNJ announced a new logo change PNJ became one of the 200 largest enterprises in Vietnam as announced by UNDP and was honored to receive the Third Class Independence Medal

In 2009, PNJ stock was officially listed on HOSE, PNJ is the first and only jeweler listed on the stock exchange so far

In August 2009, CAO Fashion One Member Limited Liability Company was established

In 2012, PNJ inaugurated - one of the leading jewelry manufacturing factories in Asia Inaugurated the largest jewelry, diamond, and watch center in the whole system at 52A-52B Nguyen Van Troi, Phu Nhuan, HCMC

In 2013 - 25 years of establishment, the PNJSilver brand was repositioned PNJ gold jewelry brand announced a new message "Honor true value”

In 2016, PNJ launched the "I love Vietnam" collection with national spirit at Vietnam Fashion Week 2017 - PNJ is honored to accompany the APEC 2017 high-level week, promoting Vietnam's image through the APEC VIETNAM 2017 badges; PNJ won

“ASIA’S BEST REPORT ON THE SDGS”, Outstanding Enterprise of the Year -ASEAN and Top 3 Asian Retailers voted by JNA,

In 2018, PNJ marked the 30-year milestone with the largest jewelry fashion show

in Vietnam, set up a set of Gold Trust medals for the U23 Vietnam team, entered the Top

50 most effective business companies in Vietnam, received the award JNA for the 4th time, 3 times in a row, reached the Top 10 in the 100 Sustainable Development Enterprises, becoming a billion-dollar enterprise

In 2019: Become the Best Retailer in the Asian jewelry mdustry - JNA, Top 50 Leading Brands, Top 10 Sustainable Development Enterprises, shaking hands with Walt Disney - expanding international cooperation, affirming brand reputation globally

In 2020 - PNJ becomes the best enterprise in the jewelry industry in Asia - Pacific The PNJ brand is constantly increasing in value and is valued at $93.1 million by Forbes Vietnam, an increase of 18% compared to the 2019 evaluation period Timely and effective actions in the F5-fresh process of PNJ have also helped was highly appreciated and honored by Talentnet for its excellent Covid-improving HR policy 2020 also marked the birth of the new brand Style by PNJ

Integrity - Responsibility - Quality Innovation - Engagement

1.3.4 Sustainable development philosophy

Putting customer interests and social benefits in the interests of the business 1.4 Company position

PNJ currently manages and operates PNJ Jewelry Factory with a total investment of 120 billion VND and a production capacity of over 4 million products/year

By the end of 2019, PNJ has developed a distribution system with 346 retail stores, e-commerce channels, and indirectly through more than 3,000 wholesale customers nationwide PNJ's products have been exported to 13 countries and regions

PNJ is ranked 16th by Plimsoll World, a leading global organization specializing in providing industry reports

1.5 SWOT Matrix:

Strengths (S)

1 High technology and technique in jewelry making

2, Experience more than 20 years in the jewelry industry

3 Strong brand, trusted by consumers

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Creative marketing strategy

Stable export market

Stores and agents widely for distribution and product mtroduction

Invest in R&D a lot

Professional and efficient management system

Dong A Bank's incentives in capital financing activities

10 Sustainable relationship with partners

Raw materials are mostly imported from abroad

The price for the product is high

Profit margin from gas and seafood business is not high

Financial activities have not yet brought significant profits, although investment capital accounts for a high proportion of assets

The gold jewelry market is concentrated in the South

Products to serve customers' needs are still concentrated in the domestic market PNJ has a temporary imbalance because a part of PNJ's long-term assets is being financed by short-term capital

10 The indicators of short-term solvency as well as ability to pay interest on loans tend to decrease

wn

The ability to expand and dominate the market is very large

Real estate market recovers, joint venture company is likely to contribute a lot of profit to PNJ in the future

6 The growth potential of the jewelry industry in Vietnam is still very large

7 The number of competitors in the industry is relatively small

Gold price fluctuates in the country and in the world

The world economy is always unstable

Long-term investment capital is quite large, PNJ will face the nsk when this investment is not effective

More competitors appear when Vietnam joins world economic organizations (WTO, TPP, .)

Gold testing in Vietnam is not really effective

Changes in terms of political and legal policies are always possible and when they occur, they also affect the management, production and business activities of PNJ The source of raw materials is relatively small, so the ability to negotiate with the supplier is not high

10 The import of gold materials is subject to strict state control

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CHAPTER 2 STP: SEGMENTATION, TARGET, POSITIONING

2.1 S - Segmentation:

2.1.1 Segmentation by region/geographic region

In recent years, users tend to choose to buy products at famous brands, instead of choosing to buy at retail stores Therefore, the nationwide coverage of PNJ stores is getting bigger and bigger

PNJ's stores are concentrated and distributed mainly in urban areas, where many people live People in these areas often have a good average income or higher, and their purchasing needs are also higher than in other areas

In 2022, PNJ will continue to expand more retail stores across all provinces in Vietnam, especially focusing on big cities where there are many advantages in terms of location, facilities and people people with high economic status Regarding the development situation in the provinces, now the middle class is increasing Therefore, the PNJ team plans to research whether the middle class can afford to open more stores and how many stores should open In terms of geography, PNJ mainly focuses on the South and Southeast regions of Vietnam as the main market, the Northern region, the Central and Western regions account for a small proportion Therefore, PNJ continued to improve the growth of business activities in the Western region compared to the previous year 2.1.2 Demographic Segmentation:

*Age, gender, and income:

In the jewelry market with too many competitors and high competition, PNJ has become one of the most successful gold and silver jewelry manufacturers in Vietnam, famous for its reputation for product quality and price trust In recent years, PNJ has been known as a brand with sophisticated and high-class designs, and when the number

of high-income customers is increasing in the market Besides, the number of middle- income customers in the market is increasing day by day, which means that they have plenty of money, can afford and are willing to pay for the jewelry they love That's why

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PNJ decided to focus on the young and creative jewelry segments for office workers or those with a mid-range income or higher who are willing to want to own that piece of jewelry Focus on elegance, fashion, youth, and enthusiasm In recent years, PNJ has focused on women aged from 30-45 years old, providing luxury jewelry brands with unique and delicate designs However, nowadays, young people are more and more modem and want to refresh themselves with jewelry collections, this trend is most expressed on the body of office workers, radiant in the office parties at the organization,

or other young people shine in festivals, weddings, weddings of women, or more narrowly, students who want to be more confident with their lives friends, lovers PNJ offers a new collection that is unique but still retains its sophistication, modemity, elegance, lightness, and freshness In addition, jewelry and fashion accessories are richly designed, with new colors, and made with different materials so that young women can confidently wear jewelry the best Customer segmentation by age and income is as follows:

¢ Customers who are between 18 and 25 years old, have relatively low income, and

do not have much to spare, will mainly shop at PNJ Silver stores Customers of this group often pay a lot of attention to appearance, especially about fashion accessories, and tend to like to assert themselves, so they will be interested in the jewelry of big and famous brands

e The customer group is aged from 25 to 30 years old, has a stable job, and has a good income and expenditure level The customers of this group take particular care of themselves and their appearance, interested in high-quality products Especially the jewelry accessories show the value and luxury as the jewelry lines

at PNJ Gold stores

¢ Customers aged from 30 to 45 years old, with high-income levels, or overseas Vietnamese or foreign tourists will tend to Cao fine Jewelry stores the most because they like expensive jewelry money They are followers of high-end

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