how does the company innovation stack up against the main competitors and within the industry

Substitute competitors operate in another industry but have products that offer the same value, benefits, and uses that can replace your product.. Demand competitors are companies that s

2100011992 Đỗ Hoàng Ka

Trường đại học nguyễn tất thành NTTU - NIIE

Nguyễn Thị Hoàng Quý GROUP 4:

Nguyễn Đắc Hoài Nghiêm Vũ Kim Ngân

HCM city, th October 2022

Ly Dat 2100012076 Lê Trương Sách 2100012291 2100002374 2100005224

ACTIVITY 3

Who are the members in team? Who is the team leader?

Find 3 companies ( est since 2017) which your team have known/liked most, and answer the following questions:

1 Who are their customers ? Who are their competitors ? What has the company innovated since 2020 ? Does the company have an innovation process that is integrated into their business ?

Tax address:6th floor, VTC Online building, 18 Tam Trinh street, Minh Khai ward, Hai Ba Trung district, Hanoi city

Legal representative: Do Xuan Thang Date Range: 11/05/2020

Q1: Who are their customers? Mostly Vietnamese people Q2: Who are their competitors? Online shopping websites such as shoppe, lazada, sen do, are their competitors Q3: What has the company innovated since 2020?

Substitute competitors operate in another industry but have products that offer the same value, benefits, and uses that can replace your product

The enterprise is seriously threatened by indirect competitors under conditions such as: New, advanced and superior technology appears to replace current technology New products appear to replace old products and industries

Competitors have a long-term marketing strategy against substitute products Q4: Does the company have an innovation process that is integrated into their business?

Instead of businesses spending 25-35% on running ads, they spend on sales collaborators, and only have to pay when the collaborators sell goods or the data brought by the collaborators becomes orders through telesale to close the business's orders

CTV can sell goods without importing goods as well as without worrying about packing, delivery, and collecting money Get the bonus right after the order is successful

Businesses set their own rewards for CTV (5 levels) and can set multiple content, photos, landing pages to advertise a product and push notifications to CTV as an advertising campaign on FB CTV can see the sales and delivery status of orders created by themselves or from their advertising links

Launched at the end of 2020, but the sales collaborator platform Cuccu.vn only really emerged thanks to the campaign to accompany Bac Giang litchi during the epidemic season

To earn extra income, people can learn how to sell online, in which livestream is currently the easiest way to sell online However, to sell online, sellers need to have a good source of goods, must be proficient in closing orders, packaging, delivery,

These are the obstacles faced by nursing mothers and office workers in the search for a new source of income That is also the reason that the Cuccu.vn platform was born

A special feature of this model is that sellers do not need to invest in importing goods but can still sell many different products at the same time With each successful order, the collaborator will receive a certain percentage depending on the regulations of each supplier

The goal of Mr Do Xuan Thang and Cuccu.vn is to help each collaborator earn about 10 million income through commissions from sales If this can be done, Cuccu.vn will help Vietnam retain about 1,000 billion per month instead of letting that money flow into the pocket of foreign advertising channels such as Facebook and Google This is also the dream that the CEO of Cuccu.vn is pursuing

Before the very convincing presentation of CEO Do Xuan Thang, Cuccu.vn then received an investment of 3 billion in exchange for a 12% stake in the reality TV show Shark Tank - Billion dollar deal

Q5 : How does the company’ innovation stack up against the main competitors and within the industry?

Classification of competitors in marketing 1.1 Competitive levels

Competitive demand: When customers have a need, they will buy products and services to meet that need Demand competitors are companies that serve the same purpose, attempting to satisfy the needs of a target group of customers with their products or services

For example: In the field of providing transportation services, customers can choose to travel by taxi, bus, train, plane

Competing uses: Companies may not produce or provide the same product or service, but their products and services can be substituted for each other in terms of use This competition can be viewed as competition between different industries There are two common types of utility competition today

One is competition between different industries but satisfying the same needs for customers The second is competition between new products created from technological advances that can replace the uses of products being used by customers today

For example: Manufacturers of hot and cold water plants, super speed kettles are competitors with each other in terms of use

Competition in the industry: Is competition between companies in the same industry or competition in the same category of goods The form of competition between companies in the same industry is often seen such as product improvement, price reduction, promotion, increasing distribution channels, communication

For example: Coca Cola and Pepsi are two giants in the beverage industry that have competed fiercely with each other for many years

Brand competition: A competition between businesses that provide similar products and services to the same customers and use the same marketing strategy Brand competitors share a common target audience, a common solution to meet customer needs, a common product or service They will be the brands customers will consider to choose to meet their needs

For example, Honda, Suzuki, and Yamaha are manufacturers of motorcycles that compete with each other for brands

The competition in marketing among rival companies is quite fierce The competition in marketing among rival companies is quite fierce 1.2 Competitive forces

Direct competitors are companies that provide a similar product or service to a common target audience

Indirect competitors are companies that do not provide the same product or service but can meet and solve the same problem or need for the target customer

Potential competitors are companies that have not entered the market or are new to the market, have not provided products or services but can affect the industry, the market, compete with your company Future What is competition in the industry environment?

An industry is a group of companies offering the same product and providing a service that is interchangeable

When the price of one party's products or services increases, customers will tend to switch to alternative products and services of competitors Competition between such products and services is called competition within a business

For example, in the sports shoe industry, users can choose Nike or Adidas shoes interchangeably These are two products that are interchangeable, aiming at a common customer

Analysis of competitive industry structure To analyze the competitive industry structure, your business needs to consider factors such as: 2.1 The number of businesses providing and the level of product differentiation The number of firms supplying and the degree of product differentiation are factors that shape the types of industry structures that place firms in different competitive positions We can divide the competition structure into 6 types based on the number of suppliers and the degree of product differentiation

Natural Monopoly: There is only one firm doing business in the market The products they supply are not replaceable or only to a certain extent replaceable In this condition, the sole supplier of the product can monopolize the price

High-pricing monopoly: Firms in the industry have the power to set high prices This type of industry structure may be due to government decrees on the basis of awareness of investment capital requirements, protection of domestic production or protection of national safety It is also possible that these enterprises hold patents, have a distinct Exclusively differentiated group: An industry consists of firms that supply products with partial differences such as quality, design, etc Each individual firm has the ability to occupy a leading position in one or several the primary nature they provide to one or several groups of customers They may charge a special price for this group of customers

Monopolistic Competition: Businesses face many competitors Each competitor has the ability to differentiate products, but the scale of customers consuming those differentiated products is often small Firms in monopolistic competition have enough power to influence the market and influence their prices

Perfect Competition: The industry has a very large number of suppliers with highly homogeneous products An individual company has no power over pricing, little interest in marketing and competition

2.2 Barriers to entry into the industry Barriers to entry into the industry are obstacles, barriers when firms outside the industry enter the industry Different industries will have different levels of difficulty or ease of entry

Major barriers to entry include: Investment

Efficiency at scale Regulations on patents and inventions Business license

Raw materials Production location The company's existing reputation Vertical alignment

The higher the barrier to entry in your industry, the less competition you have to compete with The higher the barrier to entry in your industry, the less competition you have to compete with 2.3 Barriers to exit the industry

Businesses will withdraw from the industry when opportunities for profit decrease or even be eliminated When businesses want to exit the industry, they also face barriers such as:

Jury duty Ethical with customers, shareholders Ability to recover assets

Other mental barriers The higher the exit barrier, the fiercer the competition among competitors Enterprises stay in the industry to survive and recover capital, look for opportunities At this time, to recover capital and withdraw from the industry, they can merge companies, reduce production scale, increase increase customer satisfaction It is drastic moves to recover capital at all costs, as quickly as possible that will cause industry competition to be pushed up

The higher the barrier to exit, the fiercer the competition among competitors The higher the barrier to exit, the fiercer the competition among competitors 2.4 Cost structure

The cost structure leads to competitive tendencies in the industry When industries have a high fixed dominance, businesses often tend to link together to create vertical or horizontal unity

This unification will allow businesses to increase their ability to control incremental costs, lower costs, and manipulate prices and supply in different markets They also have the opportunity to profit in markets with the lowest tax rates

In industries with a high degree of integration, the tendency of competitive activity is to compete between systems, not between individual firms

Competitor analysis in the industry environment with the model of 5 competitive forces According to Michael Porter, there are five competitive forces that need to be analyzed to assess the long-term attractiveness of a market Let's find out in part 3 of this article

3.3 Negotiating power of suppliers Suppliers can also put pressure on businesses by threatening to increase prices, reduce product quality, not deliver on time, etc That will affect your business production, reduce profits, affect the fulfillment of customer needs

When the supplier has a larger scale than the enterprise, the cost of switching to another supplier is too high, or the products and selling conditions of other suppliers do not meet, the negotiating power of the suppliers becomes even greater great

3.4, The bargaining power of customers Customers can also put pressure on companies to supply their products when conditions permit They often want to negotiate discounts, demand higher product quality, and offer more free services and offers

Enterprises will face difficulties in doing business in the market in the following cases: Buyers are much larger in size than sellers

The number of customers of the business is small, so each customer has a large buying volume Alternative supplies are readily available

High customer switching costs or low customer supplier switching costs Customers have the ability to link with each other

Question 6: How is the company’s innovation linked to the market? A business model is the plan a company uses to generate revenue and profit Or is a specific direction for a business organization to ensure the generation of income, including the choice of sales method, strategy, infrastructure, structure of the organization, business practices , operating procedures and policies

Or describe the foundation on which the organization creates, delivers, and captures that value The previous models are often short, concise, and concise and allow us to focus on 3 specific areas that support an overall business model: Components of a business model

Value Creation - The right products and services the company offers

Deliver Value - Systems, processes, resources, channels, and brands that can deliver value that customers have at their fingertips

Capturing Value - In accordance with the customer's ability that income and profit are exchanged from the values that the business creates and delivers to customers

Here are 3 examples of the structure of the business model that is common in the world technology industry And even the combination and association of these models is quite common

Procurement solutions: typically associated with the service industry, including consulting and professional services, systems analysis, external technology development, etc Applying the knowledge industry to problems specific problems to analyze and solve thoroughly Service costs are generally limited and too high The core resource of this structure is people, and knowledge is on a low scale

Process - business-oriented - associated with product and service companies whose product solutions are based on model application or periodic application This will be the output of the software application and products industry, where the same solutions are sold over and over again The cost to own and use the product is based on the different margins between the hardware and the software and the goal is to achieve a high volume of sales The key resources and processes of this structure include production and business operations, information technology, production forecasting, and business operations

Connect conveniently - connect buyers and sellers, two sides of the market, or connect personally Businesses facilitate the movement of goods and services, knowledge or communications Examples here are Google, Ebay, Craigslist, Yahoo, and cell phone operators Costs are usually through membership fees, subscriptions, advertising, or transaction fees, and the goal is to get large enough to achieve an efficient networking effect The key resource and processes of this structure are the underlying scale of customers and IT connectivity

The product and business strategies of these businesses focus on a spearhead of the industry they think they can do best or pioneer in that field When choosing a market, they choose to have their product nailed to the customer group that needs them, not to expand to new customer groups Even their service strategy, they choose how their service best serves the unique value in the product that customers expect The best of the examples the book gives is the deep service strategy of a brand that sells dishwashers They chose the hotel and restaurant segment to sell dishwashers specifically for this area Then, they delve into research and development of products and services to add value to customers with water treatment machines, dishwashing liquid for restaurants, hotels and specialized services attached It is these “deep” value chains that give the competitive edge to anonymous champions like Winterhalter Gastronom They are not the leading company selling

dishwashers in the world, but in the field of dishwashers for restaurants and hotels, they are number 1 and the first choice

The stories will open up to young businesses the shape of product structure, business goals, how to choose the right market share and market for them

Another lesson is that in order to specialize, the world's anonymous businesses have chosen product quality as the first factor to retain customers They invest less in marketing and advertising, but more on research, creation, innovation and product development Accompanying this process are process and service innovations The process is continuously improved All is to create specialized products that meet the strict requirements of customers For them, innovation is not just breakthrough creations, it is day-by-day, day-by-day improvement in all work processes And it is in that process of improvement that breakthrough innovations emerge

Q7: Does the company have champions of innovation in the business? Building long-term and close relationships with customers, paying close attention to their problems to find better solutions with them and growing together with customers is also the guideline for activities customer care of anonymous companies

Creating a corporate culture linked to employee loyalty is also one of the secrets to the success of the anonymous champions outlined in the book To achieve this, the transmission of strategic messages and goals throughout the team is valued and invested And this is also how they get the connection between functional departments in the business

Stop for a moment at this angle This is the gap in internal communication in many Vietnamese enterprises It is common for this department to not facilitate or understand the roles and functions of other departments to provide timely support when there is an urgent matter The bigger problem is that the messages of the brand's vision, goals, and core values are often only found on the website, in the agency's communication strategy proposal, stored in the leader's drawer or understood through the media Speaker by Marcom room is off duty These things lead to Vietnamese workers going to work still only for a salary goal without seeing the connection values between the development of an individual and the business they are attached to This is also gradually improving as internal PR today is being more focused But not all businesses are fully aware and fully deployed to get the consensus of employees

Sources

https://docs.cuccu.vn/ https://ictnews vienamnet.vn/startup-viet-nam-voi-tham-vong-hut-mau-nguoc-facebook-google- v747809 html

https://brandingysco riting.com/doc-sach-cac-nha-vo-dich-an-danh-cua-the-

https://dnbvietnam.com/tu-van/phan-tich-doi-thu-canh-tranh-trong-marketing html

https://www.pace.edu.vn/tin-kho-tri-thuc/gia-tri-cua-su-doi-moi-mo-hinh-king-doanh-diem-den-tu-

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