CHIẾN lược KINH DOANH của CÔNG TY cổ PHẦN THỜI TRANG VIỆT NINOMAXX eng

CHIẾN LƯỢC KINH DOANH CỦA CÔNG TY CỔ PHẦN THỜI TRANG VIỆT - NINOMAXX BUSINESS STRATEGY OF THE VIETNAM FASHION JOINT STOCK COMPANY - NINOMAXX TABLE OF CONTENT TABLE OF CONTENT INTRODUCTION RESEARCH OF CONTENT About of Vietnam Fashion Joint Stock Company - NINOMAXX 1.1 New development stage 1.2 Growth Phase 1.3 Mature stage The vision, mission and objectives of the Vietnam Fashion Joint Stock Company -NINOMAXX .6 2.1 The Vision .6 2.2 Business Mission 2.3 Objectives .6 Analysis of PEST model 3.1 Economy .6 3.2 Political law 3.3 Social - Cultural 3.4 Technology Analyze the competitive element 4.1 Competitors 4.2 Bargaining power from customers 10 5.3 Threat from substitutes 10 5.4 Bargaining power from suppliers 10 5.5 The potential rivals 11 To propose business strategies for NINOMAXX 11 6.1 Strategy for increased competition and the policies implemented .11 6.2 Strategy for growth and deployment policies 12 CONCLUSION 15 INTRODUCTION Strategic Management helps businesses achieve greater efficiency than nonadministrators The study shows businesses how to apply strategic management is achieving better results than the results that they achieved earlier and the results of businesses not applying governance strategy That does not mean that businesses use strategic management will not encounter the problem, maybe even bankrupt, but it just means that the application of strategic management will reduce the risks encountered have serious problems and increase the ability of businesses to take advantage of opportunities in the environment as they occur Environmental conditions that businesses encounter is variable The rapid change often create opportunities and unexpected risk The process of strategic management forced administrators analyze and predict the environmental conditions in the near future and the far future Thanks to clearly see the future environmental conditions that administrators have the ability to better grasp the opportunities, make the most of these opportunities and reduce risks related to the business environment conditions and thereby make the proactive decisions That means when forecasting the opportunities likely to appear, the administration prepared plans to seize the situation allows, or at risk, administrators can proactively impact environment in order to reduce the risk or actively avoided On the other hand, the strengths and weaknesses has always existed within the organization so that if no strategic management now easily be content with what is, when the environment changes quickly strengths become weaknesses and threats competitors of being exploited Conversely, if the strategic management, information systems of enterprises are reviewing the strengths and weaknesses to administrators based leverage strengths in order to increase competitiveness, and plans to reduce the weaknesses in order to limit the risks RESEARCH OF CONTENT About of Vietnam Fashion Joint Stock Company - NINOMAXX 1.1 New development stage Before 1998, had said that Vietnam's fashion market as a mass tangled forest Meanwhile garments quite adequate considering the subsidized period, for various kinds, no name has the name also Despite the name, it is difficult to read its name because the origin of the goods bearing "United Nations nationality" as Nguyen Huu Phung - president of Vietnam Fashion company said about the market at the time In 1998, a fashion boutique founded with red signboard quite prominent on Nguyen Dinh Chieu street name was MAXX In addition to the striking colors in this store has a small difference but is a big change then Stores only sell products "Made in Vietnam" The owner it is Vietnam Fashion company, then just a small company with 12 sewing machines and 20 employees The following year, many brands launched as Nino, NMSG, NINOMAXX but NINOMAXX brand is best known 1.2 Growth Phase Fashion is a fast-changing product under the mainstream of society or of great designers in the world Therefore, to survive in the fashion industry is not easy Must constantly innovate and launch new fashion models may exist in this sector In addition, Vietnam's market has not respected the protection of copyright Therefore, to cope with this victim of counterfeit goods The constantly unveiling new fashion is the best method Typically the Vietnamese fashion company had to design each collection for seasonal NINOMAXX as in the North, have spring, summer, autumn and winter; in the South, there are spring-summer and fall-winter collections and are only revealed at the last hour However, this form of advertising because it was new and highly professional yet so the results are not as expected But the opening of NINOMAXX has led to numerous companies jumping into this advertising channel as sanding, Hong Ty, Nguyen Long,etc, In addition, the store's distribution channel also promote the company alongside the function of sending products to consumers However, in recent times, the franchisor of the clothing company Vietnam without a certain standard Plus, the city is not good planning makes many fashion shops inept than the surrounding landscape This will reduce the value of the company brand With the upgrade the distribution system, the image of NINOMAXX also indirectly been raised in a way that the international fashion company often 1.3 Mature stage It can be seen that the direction of branding at the beginning helped NINOMAXX positioned as today Besides, the investment in the design, sales staff training, product display standards,etc, also help NINOMAXX create its own identity for their brand In 2007, NINOMAXX the Vietnam Textile and Apparel Association voted now dominate the domestic market the best and strongest brands with sales reaching hundreds of billion/year (in 2006 the company achieved revenues of 200 billion VND) The combination of two separate brands to cater for customers not too disparate helped mirrored NINOMAXX brand strength of the company The NINOMAXX was brand favored by consumers in Vietnam market, they must bring consumers the convenience and service of brand value better Caste is not synonymous with luxury The NINOMAXX brand is fairly average in price, in addition to give more value added to the product, and will offer more new brands to meet the needs of market segments lower or higher more levels NINOMAXX success since capturing the tastes of our customers to launch products suited to establish a distribution system with large scale with more than 150 stores at home and abroad has really created a breakthrough in Vietnam fashion industry especially in today's era of integration NINOMAXX boldly penetrate new markets in the US, Australia, Cambodia increasingly showing its determination to take forward the brand NINOMAXX Further in the Southeast Asian region as well as internationally N & M was born in late 2008 with fashion style type "Work and Play" alongside brands NINOMAXX N & M brings fashion lovers Vietnam the design most appropriate to wear to work or play, contributing to building elegant style (elegant), young (young) and natural charm (alluring) of wearer N & M regularly launches new products, averaged over 80 samples per month Maxxstyle launched in late 2009, the fashion label's third Vietnam Fashion Company after brands N & M and NINOMAXX Maxx Style really different with brands are on the market by designing only for those who really like children, want to be young, youthful express his thoughts through fashion dress style, single simple, compact design hug, strange colors The vision, mission and objectives of the Vietnam Fashion Joint Stock Company -NINOMAXX 2.1 The Vision In the fashion industry dynamic development, business operations of the company focusing mainly in the retail sector with the goal of becoming the Kingdom of the fashion retail sector in Vietnam through the design team possesses strong , system and unique brand of fashion chain store retailers in Vietnam With a distribution network of 142 retail outlets across the country, is expected to increase the number of 216 in 2011, the company Fashion Vietnam will be the leading company in the fashion retail sector in Vietnam 2.2 Business Mission The company's products are mainly levied on dynamic young people with the most suitable design to go to work and go play, elegant style, youthful, natural allure This is also the age group easily change preferences and style to suit fashionable so companies often give out many new designs and diverse Besides, the company also has many policies to encourage customer consumption of its products, such as promotional activities, loyalty card donation, donate the gift attached With business philosophy has always brought a youthful dynamic, popular and best for customers, the company is constantly endeavor to bring high satisfaction for its customers 2.3 Objectives - Short-term goal: To build popular fashion brands (casual wear) first Vietnam youth Products NINOMAXX young will increasingly be known and move forward on the path of global integration - Long-term goal: NINOMAXX will become the leading fashion brands in Southeast Asia and represents the level of Vietnam's fashion for the world market Analysis of PEST model 3.1 Economy Much of the value of Vietnam's garment industry to operations villa in exchange rates, inflation and the stabilization or deterioration of the US economy may affect exports of the sector Currently, the US market is the largest garment export of Vietnam The recession in the largest economy of this world would make American importers looking to source imported goods cheaper This may be caused Vietnam's exports difficult On the other hand, the deterioration of the US economy caused the dollar lost value against the currencies of other countries The devaluation of the dollar makes exports revenue, the main source of the decline in apparel business Meanwhile, the input element of the garment industry currently has to import the majority and under the influence of oil price fluctuations on the world The prices of the inputs will cause the cost of business increases This also affects the profitability of the business Inflation also affects the performance of the enterprise appliance Inflation makes the prices of goods increased domestic consumption To ensure that the lives of the workers, the garment enterprises will have to make a raise in order to retain staff This action will contribute to increase the cost of doing business and essential to the product cost of business increases However, when the product cost increases, garment enterprises have difficulty in exporting activities The reason is because the competition between countries exporting garments is very fierce If the garments of Vietnam increased the import partners will immediately turn to other countries with lower prices, leading to exports of garments would be reduced 3.2 Political law In decision 36/QD-TTg of on March 14, 2008 to approve the development strategy Textile industry Vietnam until 2015 and orientations to 2020, Vietnam aims to develop textile and garment industry to become one of the key industries and spearhead for export; meet the increasing demand for domestic consumption; create many jobs for the society; enhance competitiveness, strong economic integration and world region Therefore, Vietnam garment industry in the future will be prioritized for development Textile which is a very sensitive sector in the trade relations of the country Vietnam's garments with low price advantages both a competitive factor compared with exports of other countries, but also is a limitation because of vulnerability to imported water investigation and application of countervailing duties dumping 3.3 Social - Cultural Economy grows, life and higher income people more focused on products for consumption, including clothing Additionally, trends and aesthetic tastes of consumers for garments also change constantly Vietnam has more than 90 million people, each year increase of about million people, the highest population density in the city is large, young population structure, the number of people of working age almost all the elements on making Vietnam becomes market has abundant labor resources, as well as cheap labor and goods markets and fertile promising for consumer goods and garments in particular Recognizing this NINOMAXXda devoted special attention, full of favors for the domestic market with the distribution network is quite wide are present in almost all localities 3.4 Technology Production capacity is poor, backward technology is one of the major limitations of Vietnam garment today Activities of the garment industry is now largely done for foreign outsourcing or only produce simple products, but products that require high technology to bring greater added value to not meet Therefore, if the proper investments in technology, the Vietnam Textile industry can promote all the potential and quality of labor Investment in technology is a right way and very needed by the textile industry To achieve the objectives of providing 50-60% domestic materials under accelerated development strategy of textile industry in 2010, is the first of Vietnam enterprises should actively import of equipment and change new technology Situation of the sector in recent years have shown, these businesses have large investments in equipment and technology, the supply of raw materials has been elevated to a fine, at least ensured for internal supply In particular, each exhibition of textile technology, textile enterprises Vietnam a chance to reach new technologies and signed by the raw material supply for strategic service development In 10 years, the textile enterprises have invested and many technological innovations About 50% cotton processing equipment has been activated from the US Spinning grew to nearly million spindles, using the devices originate from Western Europe, including the chain into the most modern in the world today, as 12,000 spindles pull chain stitches Phong Phu Textile Company Assessing the prospects for technological development of the textile industry in Vietnam, Ms Judy Wang, Chairman of the Company Yorkers Trade & Marketing Service (Hong Kong) said that in recent years, the market and technology equipment textiles Vietnam has developed strongly However, Vietnam now focuses mainly on garment technology, so the market for the textile industry is still relatively small However, with the development strategy and proactive in providing raw materials, in the next few years, the technology market and textile equipment will really explode and create favorable conditions for domestic suppliers engage in business activities Meanwhile, Vietnam ‘s enterprises has the opportunity to buy the kind of equipment used for technology innovation process Analyze the competitive element 4.1 Competitors Competitive road is always tough and very bumpy Currently the Vietnamese fashion companies are targeting customers who are primarily income and average consumer tastes Grasp the mentality of the majority of young consumers, domestic manufacturers are stepping up investment, expand the scale of production and business Although the assessment accounts for 60% market share, but the fashion segment level remains the area concentrated unbeatable Fashion apparel industry is facing intense pressure from pretty local firms and foreign, but enterprises, especially private enterprises were active in capturing consumer tastes and "the pulse of the market" In addition to opening new stores, the fashion company was privately entered "war" with the shipment brand fabric "unique" for its brands Moreover, each domestic fashion brands are exclusive sourcing new fabrics, imported directly or bag the whole lot of fabric imported foreign units In the middle market segment, competition is even fiercer when the participation of the brands imported from South Korea, China, Cambodia Although the movement "Korean fashion" arose ago 6-7 years, but so far has not changed So despite being considered a major brand in the fashion industry and dynamic common but NINOMAXX still facing a lot of competition on the same label as target customers: Blue Exchange, Vietnam Thy, FOCI, PT2000, John Henry, Sea Collection,etc, There is also the industry rivals such as Viet Tien, Nha Be, NEM, Nguyen Long, Sifa, Senti, An Phuoc, Oxy,etc, the competitors from abroad such as Korea, China,etc, 4.2 Bargaining power from customers - When people buy weak, companies may raise prices and high profits - Buyers have the most power in the following cases: - Industry including many small companies and buyers are few and large Buyer shall procure large volumes - Industry dependent on the buyer Buyers can switch provides a low cost Shoppers hit the economy when shopping from several companies at once Buyers have vertical integration capabilities Economy grows, life and higher income people more focused on products for consumption, including clothing Additionally, trends and aesthetic tastes of consumers for garments also change constantly If businesses not focus on investment and design will quickly fall behind However, Vietnam sentiment "make even eat durable" should still favoring the products with good quality and cheap To retain customers, the company developed under the direction of "multivalent", creating more choices for customers, and to increase the amount sold, NINOMAXX not discount the product that launched many medium priced product line average 5.3 Threat from substitutes Are products of the industry serving similar needs Limited ability to set high prices limit profitability Especially for the textile industry in Vietnam in general and in particular NINOMAXX the company is currently facing problems Chinese garment appears rampant in the market with low price and various designs, often constantly changing and quite in line with the tastes of Vietnam dominate the apparel market This move shows that the intensity of competition in the apparel industry today is huge 5.4 Bargaining power from suppliers 10 - Threatening as they can push prices up or raise must reduce the quality of input requirements The opportunity to be able to push prices and high quality requirements - The supplier has the most power when: + Product of vendors selling less capable replacement and important for companies The company is not an important customer with the supplier Products of different vendors that can cause costly for companies when converted Threatening downstream integration of client industries and compete directly with the company + For NINOMAXX, raw materials for its production are mainly imported from abroad Therefore, companies may face risks as prices of raw materials in the world have these fluctuations, leading to the rise in prices of input materials 5.5 The potential rivals Potential competitors are enterprises competing in the sector does not yet have the ability to enter the market But the company NINOMAXX distribution systems and very large scale with more than 142 retail stores and a market share for garments industry is huge but also faced many difficulties from rivals To stand in the market, NINOMAXX has created customer loyalty for the brand by continuous advertising, trademark copyright protection, constantly improving products, emphasis on quality improvement and after-sales service Customer loyalty to brands would make it difficult for new people to get involved to dominate the company's market share So despite being considered a major brand in the fashion industry and dynamic common but NINOMAXX still facing very many competitors on the same label as target customers: Blue Exchange, Viet Thy , FOCI, PT2000, John Henry, Sea Collection,etc, There's also the industry rivals such as Viet Tien, Nha Be, NEM, Nguyen Long, Sifa, Senti, An Phuoc, Oxy,etc, The competitors from abroad such as Korea, China,etc, To propose business strategies for NINOMAXX 6.1 Strategy for increased competition and the policies implemented 6.1.1 Strategies cost leader Continued technological innovation and equipment manufacturing Technological innovation has a key significance in improving the productivity, reduce 11 labor costs and production time contributed to lower the cost down compared to competitors And also thanks to new equipment, new technology companies can create products that meet the requirements penetrating new markets, generate foreign currency revenues contribute infrastructure innovation in companies 6.1.2 Differentiation strategy To survive and grow Fashion Vietnam need to find a new strategy, a new path is to find new differences for each different market segment that is strategic centralization based on other speciation The core content of the strategy is to focus on youth with youthful style to create differentiation and attractiveness of products with competitors as models, styles, quality,etc, With this strategy, NINOMAXX should focus on the youthful and dynamic simple designs are not too picky Every item that has size and different sizes, prices also somewhat more expensive rather than strategic choice led low-cost direct fashion as the other but still be customer acceptance and preference 6.1.3 Strategic focus To maintain and develop the domestic market, the need to master before its home market by quality, price and brand, which is the basis for strategic foreign market penetration by its own brand Companies always have to consolidate relations existing customers, expand trading relationships with new customers in different markets 6.2 Strategy for growth and deployment policies 6.2.1 specialization strategy - Long term: Research and development of new customers, new markets New product plan Using capital efficiently, creating maximum profitability Positioning & business development - Medium term: Plan Sales: complete regulatory system for consumer products companies in the whole country Expansion in the local agent (North, Central and Mekong Delta, Central Highlands), enters the premium supermarket in Ho Chi Minh City and ASEAN markets Production planning and budgeting Sort personnel departments to suit the requirements of management Analysis of operational plan: Separate work => Investments technological innovation, equipment => Order, dispatching work => Cooperation with Vietnam 12 Textile and Apparel Association built and maintained website to introduce and promote products => Trademark products, design goods in accordance with the standards and international best practices, introduce products as an exclusive brand of the company on the market 6.2.2 Diversification strategy - Concentric Diversification: NINOMAXX has developed and launched a series of new products, especially the series couture as Ninomaxx - Fashion popular and dynamic (Casual Active), N & M - Fashion popular high-end and luxury (Smart casual & Hi-end casual Clean) and Maxxstyle - Fashion common courtesy (casual Clean) However NINOMAXX should give more specific strategies to identify target customers, and distinction for each brand - Strategic intensity: enterprises dominate the market the best in Vietnam's garment sector but NINOMAXX strives to increase its market share and improve its competitive position in the business environment full of fashion garments competition with numerous companies in the country and abroad - Market penetration: Launched new fashion models designed and named the brand "Made in Vietnam" The exhibited products at each store also follow a standard and unique style Employees own uniforms and always thoughtful, affable with customers (this is the strong point of NINOMAXX) Fashion style is a clear mandate, which is the style to serve youth Investment brand building (advertising, participating in Fashion Week, the fashion show,etc, ) - Market Development: In 2009, due to the impact of the financial crisis, sales in the market are reduced to giving greater attention to the development of new markets, especially enterprises more interested in the domestic market is full the potential that many garment enterprises in Vietnam has been vacant for years - Product development: Improving the quality of products meet international standards of management system according to ISO 9002 & social responsibility SA8000, business ethics standards WRAP Manufacturers themselves have to ask yourself the question: compared to their global with new, modern, competitive to what extent? Must take the most modern products as the foundation from which to develop new forms of marketing, branding,etc, To freeze the product Fashion business can only be confirmed when the brand superiority create consumer trends based on 13 adequate design, attractive enough entice consumers, because of technology, machinery, materials,etc, Nobody can afford But no strategic design can not create its own class 6.2.4 Other Strategies Undertake measures to combat imitation, counterfeiting of the company The specific measures through the powerful agency against counterfeiting and cloning companies The company has improved the piping, buttons, labels, a sophisticated way to prevent forgery, newspapers, printed brochute list of official agent, indicating distinguish counterfeit and genuine goods It was found that the direction brand building at the beginning helped NINOMAXX positioned as today Besides, the investment in the design, sales staff training, product display standards,etc, The NINOMAXX also help create brand identity for his own With the development efforts of its distribution channels, NINOMAXX was, is and will be even more successful in the Vietnam market By all that has done, NINOMAXX giving consumers a belief, believe there will be a day of fashion brands will NINOMAXX par with famous fashion brands in the fashion capital of the world NINOMAXX are seeded and will one day reap the rewards 14 CONCLUSION Brand strategy is one of the important tools to realize business strategy In other words, to build strategic brand differentiation, beyond the vision and philosophy of the brand, business strategy as an "input" indispensable Strategic Management helps businesses clearly oriented strategic vision, mission and its goals Indeed, strategic management want to be effective, organizations must manage environmental information systems business Pursuant to this, managers can predict the trends of the business environment and determine where the enterprises needs to go in the future, what needs to be done to achieve success long Realizing the desired results in the future and aims to help managers and employees to master what to to achieve success and create mutual understanding between managers and employees and the efforts to achieve the desired This will encourage both objects on achieving short-term performance, better to improve longterm interests of the enterprises 15 ... customer loyalty for the brand by continuous advertising, trademark copyright protection, constantly improving products, emphasis on quality improvement and after-sales service Customer loyalty to brands... popular and dynamic (Casual Active), N & M - Fashion popular high-end and luxury (Smart casual & Hi-end casual Clean) and Maxxstyle - Fashion common courtesy (casual Clean) However NINOMAXX should... Objectives - Short-term goal: To build popular fashion brands (casual wear) first Vietnam youth Products NINOMAXX young will increasingly be known and move forward on the path of global integration -