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Marketing Strategies for products of Education Equipment Joint-Stock Company1 TABLE OF CONTENTS Introduction about Educational Equipment Joint Stock Company * Company’s history and company’s functions * Company structure * Introduction about Company’s products Business environment analysis .5 2.1 External environment * Macro environment Geography and population Politic Economic * Industry environment Demand analysis Analysis on competition in the market of teaching equipment for kindergarten to high schools 2.2 Internal environment Proposal of Marketing strategy for the company’s products 10 Introduction of Educational Equipment Joint Stock Company Company history and the company’s functions Educational Equipment Joint Stock Company (EECo1 JSC) is a company under the Ministry of Education & Training The company was established on the basis of transformation (Privatization) Government Company, which was Educational Equipment Company (under Ministry of Education and Training), following the Decision No.2690/QD-BGDDT dated 25/5/2007 of the Ministry of Education and Training Currently, the government is holding controlling share of EECo1.JSC, which is 51% The representative of the government managing this share is Vietnam Education Publisher Educational Equipment Joint Stock Company is located at: No.18/30 Tạ Quang Bửu street, Hai Bà Trưng district, Hà Nội city Tel: ++84.4 38693285 Fax: ++84.4 36863236 The factory is located at: - Factory 1: No 62 Phan Đình Giót street, Thanh Xn district, Hà Nội city - Factory 2: Bần Yên Nhân town, Mỹ Hào district, Hưng Yên province Educational Equipment Joint Stock Company 1was established with the objectives to produce and provide educational equipment for schools of all level ranging from kindergarten school to universities Educational Equipment Joint Stock Company is the biggest one in its industry with the total number of regular employees is 300 The company has had experiences in this field since 1962 Individual submission – Marketing Management Company Structure General Director Departments ♦ Planning and Financial department ♦ Administration and HRM department ♦ Project department ♦ Equipment & Technology transfer department ♦ Technical and Quality control department ♦ Representative office in Ho Chi Minh city Centers and Factories ♦ Kindergarten equipment center ♦ Educational equipment factory Company Structure: Individual submission – Marketing Management Chart 1: Company Structure of Educational Equipment Joint Stock Company 1– Source: Educational Equipment Joint Stock Company Products and Services Main products: - Teaching equipment for all school levels - Teaching equipment and toys for kindergarten - Chairs, tables, chalks and school interior furniture Other products and services - Provide and install IT equipment, computers and computer network - Provide and install equipment for foreign-language studying classroom Individual submission – Marketing Management - Provide and install technical and scientific equipment - Provide and install vocational equipment - Authorized distributor of equipment for some foreign manufacturers Business environment analysis 2.1External environment • Macro environment Geography and Population Vietnam occupies about 331,212 km², in which the land area is 327,840 km² and internal water area is 4,200 km² Vietnam terrain is quite varied with hilly, mountainous & forestry in North East, North West & Central Highlands, low & flat areas accounting for 20% of total Vietnam area According to research from Vietnam General Statistics Office, Vietnam’s population as of 01st Apr 2009 is 85.846.997 people Red River Delta is the most densely populated area, with 19.5 million people The next is Coastline Southern Middle with 18,8 million people and the third is Cuu Long River Delta with 17,7 million ones There are three (3) administrative subdivisions: provincial & equivalent, townships & equivalent, counties & equivalent Vietnam is divided into 58 provinces and city municipalities Hanoi is the capital with 63 cities and provincial municipalities Politic: Stable politic Vietnam is currently a republic socialist country Political system is run and led by one party which is Communist Party of Vietnam The Party’s principle is: the Party leads, The Government Individual submission – Marketing Management manages and the People own The Communist Party of Vietnam is formally directed by National Congress The budget for purchasing teaching and educational equipment in Vietnam is mainly from government fund (Except for private schools or semi-private schools) by way of purchasing tender The investors for big and major contracts are mainly at the central and provincial level To be successful in this market, those companies in this industry need to be highly aware of this factor Economic environment Sustaining high economic growth rate in a long time, Vietnam officially became the 150th member of World Trade Organization on 11th Jan 2007 Regarding economical geography, Vietnam government divides the country into economical-societal regions and key economical regions in the North, the Middle and the South However, corruption has always been ranked among the high level in the world Plus, difficulties in capital, human resource training, land, administrative transformation including thousands of administrative procedures which have been lasting for 20 years now, have become obstacles for economic development, especially calling for foreign direct investment (FDI) Vietnam is currently being lagged far behind by other countries in the region According to Vietnam Development Report 2009 by World Bank, in terms of economic, it will take Vietnam a long time to catch up: 51 years with Indonesia, 95 with Thailand and 158 with Singapore Year GDP (billion USD) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 31 Individual submission – Marketing Management 32 35 39 45 52 60 70 89 91 101 GDP/per head ( USD) 402 416 441 492 561 642 730 843 1052 1064 GDP growth (compared to previous years) 6.8 6.9 7.1 7.3 7.8 8.4 8.2 8.5 6.2 1168 5.3 6.7 Chart 2: GDP data of the last 10 years (2000-2010) - Source: The Year book 20002010 – Vietnam General Statistic Office • Industry environment: Demand evaluation: This assignment focuses on analyzing, evaluating and proposing a Marketing strategy for the company’s main product i.e teaching equipment for kindergarten, elementary, primary and high school The observation for data from Ministry of Education & Training published on website http://www.moet.gov.vn/?page=11.11&view=3544 is as the following Chart 3: The number of schools and students 2008-2009 Pre Education Primary Primary Education Number of schools Number of students Number of schools Number of students 2009-2010 2010-2011 28.114 28.413 28.593 3.305.391 15.051 3.409.823 15.172 3.599.663 15.242 15.212.028 15.022.759 14.851.820 Chart 4: Government spending on Education & Training Total Central Local 2008 74.017 18.912 55.105 2009 94.635 23.834 70.801 (Billion VND) 2010 104.775 27.216 77.559 Capital expenditure 12.500 16.160 20.275 5.900 6.600 8.416 11.859 84.500 Of which Central Local Recurrent expenditure Of which Central 61.517 7.450 8.710 78.475 13.012 16.384 18.800 Local 48.505 62.091 65.700 Individual submission – Marketing Management Therefore, the market has always been on a growth trend because of the fact that the number of schools is increasing Government spending on education (including spending on teaching equipment) keeps increasing The growth rate is 27,8% from the year 2008 to year 2009, 10,7% from the year 2009 to year 2010 Non-government schools are also required to purchase teaching equipment pursuant to the policy on the list of minimum teaching equipment for each school level regulated by Ministry of Education & Training Moreover, non-public schools tend to have sound investment on teaching equipment Thus this market segment is quite huge The budget Vietnam government spending on education accounts for 20% of GDP, which implies that Vietnam takes education among the country’s priority Due to the current not-highly developed economic situation, Vietnam can only afford teaching equipment at the basic level and at the standard price Therefore, the equipment are mainly manufactured locally or imported from China In my opinion, there would be a dramatical change in the purchasing trend Teaching equipment at higher quality and better meeting the requirement for teaching equipment of the new set of text book implemented in 2015 would be the trend Teaching equipment aim to catch up with the middle and average level of those Asian countries which have developed education system e.g Japan, Korea The market shall have significant growth rate from 2015 (purchasing equipment according to the new set of textbook) This period of high demand will last for around years and then the market will saturate (the percentage of GDP spending on education) Individual submission – Marketing Management Analysis on competition in the market of teaching equipment for kindergarten to high schools Objective Product Educational The lead in the Teaching Equipment market equipment Joint Stock following the Company requirement for the list of minimum teaching requirement for each school levels regulated by Ministry of Education & Training Hong Anh Educational Equipment Joint Stock Company (HCM city) Lô B8 Hiệp Phước Industrial zone, Nhà Bè district, HCM city Mountainous Area Restructuring Support and Commerce Co., Ltd The lead in the As above market The lead in the As above market 47 – 49 Hàng Buồm, Hoàn Kiếm, HN Segment Those organizations purchasing by government fund or foreign sponsored fund: - Ministry of Education & Training - Provincial department of Education & Training Private schools As above As above Actual market share - Transformation on teaching equipment 2003 – 2008: approximately 30% - From 2009 now: 25% Transformation on teaching equipment 2003 – 2008: approximately 25% - From 2009 now: 15% Transformation on teaching equipment 2003 – 2008: approximately 25% - From 2009 now: 15% (These data are summarized and analyzed based on the total government spending on teaching equipment and these companies’ revenues) The period before educational transformation (2002-2008), there were around 10 countries in this industry However, there are only companies as listed above which are adequately competent in terms of factory infrastructure and human resource Educational Equipment Joint Individual submission – Marketing Management Stock Company was the leading company in this period Due to the dramatical increase in market demand, many new companies have been established since 2008 These companies have managed to make major development steps, which made this market more competitive Consequently, Educational Equipment Joint Stock Company are now only among the leading group This raises a threat for the company, of which the change to a pertinent business strategy is crucial to the company’s success and reaming the leading position in the market 2.2Internal environment The company has good factory, qualified and experienced human resource who graduated from both local and abroad universities The company is also cooperating with partners who specialized in manufacturing and providing teaching equipment from those countries with advanced education system and developed countries e.g Japan, Korea to manufacture high quality equipments complying with Vietnam market However, the company structure is still big and not effective The recruitment and lay-off are still difficult since the company is still operating with the mechanism of a government company Proposal of Marketing strategy for the company’s products ♦ Differentiation: Utilizing the advantage of being a company under Ministry of Education & Training, the leading company of Vietnam in this industry, the company shall collect information and take the job of designing sample teaching equipment for the program of changing textbook in 2015 The company will consequently create competitive advantage The company shall also cooperate with Japan and Korean Individual submission – Marketing Management 10 partners to offer differentiated designs, beautiful outlook, easy-to-use, good quality which is equivalent to those in Japan and Korea, yet the price is reasonable ♦ Product quality: equivalent to the quality of Japanese and Korean products (currently, the quality of teaching equipment in Vietnam is low and the trend for an improvement in quality is vital) ♦ Product features: highly pedagogical, beautiful package, easy-to-use, good quality, anti-rust, durable, highly meet requirement and regulations on teaching equipment of Ministry of Education & Training ♦ Branding & Trademark: need to register brand name and trademark, intellectual property rights all over the country ♦ Packaging: beautiful and safe for transportation ♦ Services: improve after sales services i.e warranty, spare part stock ♦ Warranty, Maintenance: at least 12 months and provide spare parts upon request within years within years after the warranty period ends References - Documents of Educational Equipment Joint Stock Company - Website: http://www.moet.gov.vn/?page=11.11&view=3544 - Website: http://vi.wikipedia.org/wiki/Vi%E1%BB%87t_Nam -End - Individual submission – Marketing Management 11 ... would be a dramatical change in the purchasing trend Teaching equipment at higher quality and better meeting the requirement for teaching equipment of the new set of text book implemented in 2 015 ... analyzed based on the total government spending on teaching equipment and these companies’ revenues) The period before educational transformation (2002-2008), there were around 10 countries in... would be the trend Teaching equipment aim to catch up with the middle and average level of those Asian countries which have developed education system e. g Japan, Korea The market shall have significant
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