final assignment this assignment is submitted as a requirement for the final exam

Tran Ngoc Thai Son, Tiki''''s Founder and Chairman of the Board of Directors, beganhis business experience in March 2010 by selling books online with just ten people.With several years of e

INE3060 E – COMMERCE

FINAL ASSIGNMENT

This assignment is submitted as a requirement for the final exam

Ha Noi, January 2022

EXECUTIVE SUMMARY

The purpose of this study is to learn about and assess Tiki e-commerce, as well as todevise a strategy for promoting products on it utilizing past knowledge, articles, pressreleases, and web material I will provide an overview of Tiki's broad background inthe Vietnamese e-commerce market At the same time, I will examine the businessstrategy and be assigned specific practical duties to promote the product on theplatform.

COMPANY BACKGROUND

Tiki was named from the acronyms “Tìm kiếm” and “Tiết kiệm”, with the initialpurpose of assisting consumers in finding better items more easily and at lower rates Tran Ngoc Thai Son, Tiki's Founder and Chairman of the Board of Directors, beganhis business experience in March 2010 by selling books online with just ten people.With several years of experience working with E-commerce organizations andstartups, Mr Thai Son recognized the potential of the Vietnamese E-commerce sectoras well as its limitations in terms of goods and services

In March 2012, Soichi Tajima, President and CEO of a Japanese-based venture capitalfirm CyberAgent Ventures, Inc., a subsidiary of CyberAgent, Inc., announced adecision to invest in Tiki Corporation after its purchase of a 20% share in the localcompany Son's aim would be to strengthen customer relationship management andenterprise resource planning systems, as well as extend delivery and warehousingsystems and start people recruiting and training initiatives (Nghia, 2012) As a result,Mr Son has gradually transformed Tiki from a solely online book selling website tothe most dependable E-commerce platform with diverse categories serving millions ofcustomers throughout Vietnam.

Tiki is currently the top two e-commerce sites in Vietnam, number six in SoutheastAsia, and the number one best place to work in Vietnam in the Internet/E-commercecompany in 2018 (as chosen by Anphabe), as well as the number fifty best place towork in Asia in 2019 (as determined by HR Asia).

Tiki is an all-in-one trade ecosystem composed of member firms such as TikiNOWSmart Logistics, which provides end-to-end logistics services; Ticketbox provides thetop event ticket service, movie viewing; retailer Tiki Trading and Exchange offers 10million items from 26 categories to millions of clients nationally.

Mission statement: Tiki's operational slogan is "All for Consumers," and the

company is continually striving to enhance the quality of its services and goods inorder to provide a comprehensive shopping experience to Vietnamese customers Tikiis devoted to offering the highest quality products and services Genuine with a 111percent refund policy if counterfeit items are discovered Tiki strives to be efficient,assisting customers in purchasing high-quality items at reasonable pricing.

Vision statement: Tiki's current vision is "Vietnam's most trusted e-commerce site,"

and its objective is "Providing consumers with the greatest online buying experience."

BUSINESS MODEL ANALYSIS

Tiki, like other e-commerce sites, is a B2C website (Business to Customer) Tikishifted their business strategy from B2C to Marketplace in early 2017 Marketplace isessentially the entire progression of the B2C model Therefore, Tiki distinguishesitself by connecting companies and consumers in order to provide them with comfortand simplicity while purchasing online As a result, many people, enterprises,corporations, or brands will be selling on Tiki.vn Tiki even sells things that they haveimported (Tiki Trading booth) To that purpose, the organization functioned as amiddleman between the value chains of various suppliers (books, kindles, presents,and souvenirs) and buyers Customers may search for items using the precise searchengine or explore products by category and brand Tiki rigorously examines thequality of the seller's items, so you may be more confident than on other e-commerceplatforms.

1 Value proposition

Tiki emphasizes devotion, honesty, and customer accountability, and is devotedto putting customers first, constantly providing exciting, pleasant, andtrustworthy experiences.

2 Revenue model

Tiki's main source of revenue is sales profit It may be accomplished via sales,advertising on websites and applications, affiliate marketing, registration, aswell as banking linkages in online payments.

3 Marketspace

Customer demand for online purchasing is expanding on a daily basis.Customers like respectable, reputable establishments, various items withexcellent customer service, warranties, and promotions.

Tiki's core business is operated on two platforms: an app and a website Tiki'swebsite has nearly 20 million monthly visits (iPrice, 2021) In 2019, the totalrevenue of the company was 119B VNĐ (Vietnam Finance, 2021)

(Source: iPrice)4 Main competitors

Tiki's primary rivals are large-scale enterprises including LAZADA, Shopee, and other bookshop, electronic, and mobile platforms such as sieumua.vn,123mua.vn, chotot.com, and so on

Books, for example, have been Tiki.vn's most well-known commodity from itsinception Tiki.vn's main rivals in this industry include vinabook.com,fahasa.com and others.

Fahasa.com is a major competitor; they not only have an e-commerce website,but also a bookshop chain with 75 locations around Vietnam Fahasa.com sellshundreds of titles as well as associated things such as movies, software, andtoys.

5 Target audience

Tiki.vn's target clients are those between the ages of 17 and 32, of bothgenders, who use the Internet on a daily basis through smart devices andengage in online shopping Tiki also reaches clients through YouTube sinceTiki often blends advertisements with musicians and singers.

Tiki.vn's target clients in the book section are those who like reading books forstudy or relaxation.

Tiki also has a dedicated and qualified client base, with the majority of thembeing women over the age of 24 The group of visitors with a medium to highincome makes up the majority According to system data, Tiki said that thegroup's devoted consumers are located in major cities around the nation,including Hanoi, Ho Chi Minh City, and Da Nang… (VnExpress, n.d.)

6 Competitive advantages

- Tiki has been expanding for more than ten years with a vast system and a broadadvertising campaign Tiki has achieved a significant footing in the hearts ofcustomers due to its unique promotion system and team Staff that is motivatedand professional, as well as a variety of additional policies.

- Tiki sells a wide range of products, including pens, notebooks, and soy saucebottles, as well as TVs, refrigerators, washing machines, phones, and evenmotorcycles

- The product's quality is rigorously vetted Commit to no fake items, transparentprovenance of goods, and a clear return and refund policy for clients - “Rẻ hơn hoàn tiền” is a service that provides people with authentic items at the

lowest possible costs on the market If you locate a product on any e-commercesite for a cheaper price than when you purchased it on Tiki, they will reimburseyou Tiki Coin for the difference in price The program refreshes the list of newitems on a daily basis, has no time restriction, and always includes TikiNowdelivery service between 2-3 hours From there, you don't have to wait for thecrazy sale hours or look for discount coupons to get the things at low costs andincredibly rapid shipping (Long, n.d.)

- Staff pick up products at their homes, making it simple to return and exchangeitems

- If the product requires warranty, you may visit the firm or mail it to Tiki - There are several specials available at reasonable pricing Prices for books, in

particular, are usually lower than those found at bookshops

- Tiki Now provides super rapid delivery in only 2-3 hours, allowing customersto save time

- There are several payment options available, as well as the ability to see thingsbefore purchasing (Anon, n.d.).

7 Market strategy

- Abundant goods, constantly updating new items, always having appealingmarketing forms, broadly promoting to customers may access the most up-to-date information about products, as well as warranty policies for the advantageof consumers.

- Marketing strategy “Tiki đi cùng sao Việt”:

Tiki paid around 10 billion VND to sponsor 100 MVs of Vietnamese singers inorder for the Tiki emblem to appear Analysts consider this a successful effortin many aspects, including distributing the brand to target consumers,establishing brand love, boosting the growth of the arts, and providing

possibilities for musical talents Tiki has taken a more hopeful move, "burningmoney" to fund MVs is regarded as a tactic to "spread" the brand to Tiki'sprospective clients - young people who are savvy about technology andpurchase and sell online This is also a dilemma in which Tiki must endurelosses in order to maintain a "better" position in the ever-growing andcompetitive e-commerce sector (Lương, 2021).

- The human aspect is vital in the operation and development of Tiki Tiki has ateam of passionate, energetic, clever, and strategic market leaders Tikiempowers workers further Every month, Tiki's leadership conducts TikiSharing During such discussions, the company's executives constantly listenand support their employees They share their successes and failures to inspireone another (says, 2020).

SWOT ANALYSIS

1 Strengths

● It has a lengthy history

Tiki is an e-commerce company that was founded in 2010 With alengthy history of commercial operations, Tiki has earned theconfidence of consumers and is one of the top trading platforms (Anon,n.d.).

● Excellent brand recognition

Tiki.vn began by primarily selling online books, but after ten years ofbusiness, it has evolved into a multi-industry online shop, with booksbeing a solid "identifying" commodity for the brand corporate identity

● Capture a large portion of the e-commerce sector

Tiki is one of Southeast Asia's most popular e-commerce platforms.Tiki is one of the top five e-commerce platforms in Vietnam

Tiki is a popular website with a significant number of visitors Tikireinforces its position and position in the e-commerce business by beingresponsive to the demands of clients and the market.

● Having a vast and robust financial source that is constantlypouring funds

In 2018, Vietnamese e-commerce enterprises got large sums of moneyfrom foreign investment funds on a consistent basis

Tiki acquired further funding from JD Group at the start of 2018, inaddition to the 44 million USD investment obtained in 2017 BySeptember 2018, the firm had received an additional 122 billion VNDfrom VNG

● Products that are convenient and near to the client

In terms of trust, 85 percent of Tiki consumers are happy with thecompany's quality and service With 400,000 customers visiting Tikieach month, the exchange rate is merely 0.95 percent

● There is a policy of returning items in accordance withlegislation, which creates beneficial circumstances for purchasersas well as a wide and rapid delivery network Tiki now has 8warehouses in key cities around Vietnam Tiki also provides arapid delivery service TikiNow in major cities that takes 2 hours(hotro.tiki.vn, n.d.).

Keeping up with trends and client demands, as well as continuallyadapting in order to communicate effectively with customers

Tiki is always launching campaigns and unique messaging to raiseawareness of diversity, particularly in home items and technology.

● Tiki's delivery prices are often cheaper than those of e-commercesites.

(Source: Tiki.vn)2 Weaknesses

(Source: VietNam Finance)

● Heavy losses, losses that have been rising during the years of operation

During the 2016-2019 fiscal year, the company's net revenue was 62.3 billiondong, 92 billion dong, 240 billion dong, and 119 billion dong, respectively.Tiki, on the other hand, recorded a fast growing yearly loss after tax, with 178billion dong, 282 billion dong, 756 billion dong, and 324 billion dong Tiki has accrued a loss of approximately 1,800 billion dong by the end of 2019.The company has a negative equity of almost 354 billion dong(VietnamFinance, 2021)

● Tiki does not have as many things as Lazada or Shopee Tiki, unlikeother trading platforms, does not provide numerous promos andincentives.

● Some marketing methods remain unrealistic, such as the musiccommercial in which Tiki picked Chi Pu as the spokesman(MarketingAI, 2017).

● There are several constraints in shipping and ordering: Tiki has a hugenetwork infrastructure, multiple warehouses, and an excellent deliverystrategy, however the number of commodities in each warehouse varies.A lot of Tiki goods are only available for delivery in Ho Chi Minh City,generating considerable hassles for clients

● It takes a long time to evaluate and send products

Tiki has its own review criteria, which is why review times might rangefrom 24 to 48 hours Because of the lengthy vetting process, goodsproviders sometimes take longer to update items on their shops thanother commerce platforms such as Shopee or Lazada

● Implement a virtual pricing scheme

Tiki sometimes implements the policy "Sale shock price 20%, 40% ",however when compared to the real price, the price after the promotion

is not much cheaper This has elicited varied responses from certainconsumers, negatively impacting Tiki's image.

● Tiki does not currently have any programs or policies in place to reduceits environmental effect, despite the fact that public awareness of theproblem is growing.

3 Opportunities

● The marketplace has a lot of potential

Businesses are permitted by policy to promote their products andservices on Tiki.vn, but quality is still governed by the supplysystem - Tiki's supply chain has aided Tiki in understanding theinput quality of commodities It also enables firms to be moreactive in promoting and selling items

● The popularity of online shopping has skyrocketed, and thenumber of Internet users in Vietnam is enormous

Vietnamese citizens often utilize the internet every day.Additionally, the rising tendency of online purchasing during theCovid-19 epidemic has been a fantastic chance for Tiki and othere-commerce platforms to thrive, adding to increased sales(BAODANSINH, n.d.).

● Google's credibility and Facebook's resonance

Tiki works with Google and Facebook to complete large projects.Cooperation with major IT firms throughout the globe enablesTiki to acquire more knowledge and strengthen its position in thee-commerce sector (tế, n.d.).