The branding strategy for solvay brussels school in vietnam

TRƯỜNG ĐẠI HỌC MỞ TP.HCM UNIVERSITÉ LIBRE DE BRUXELLES HO CHI MINH CITY OPEN UNIVERSITY SOLVAY BRUSSELS SCHOOL MBMM4 Le Minh Duc The Branding Strategy for Solvay Brussels School in Vietnam MASTER PROJECT MASTER IN BUSINESS & MARKETING MANAGEMENT Tutor’s name: Prof Marianne Claes Ho Chi Minh City (2011) i DECLARATION I declare that this study does not incorporate without acknowledgment any material previously submitted for a degree or diploma in any university; and that to the best of knowledge it does not contain any materials previously published or written by another person except where due reference is made in the text …………………………………………… Le Minh Duc Master of Business and Marketing Management – Intake February 24th, 2010 ii ACKNOWNLEDGEMENT I would like hereby to express my sincere gratitude towards many individuals who have given me encouragement and supports to finish this thesis Firstly, I really appreciate the knowledge that I have got from the program of Master of Business Management and Marketing that Solvay Brussels School Vietnam in coordination with The Open University offer to us This includes the interesting lectures that the professors of the programs have conducted Besides, I found it very useful those additional courses given by Dr Kieu, Dr Tuan for orientation and thesis guiding instructions Many deep thanks for that My special thanks are for Professor Marianne Claes as my tutor, who, despite of here heavy schedule, has guided, given advice, and supported me to go to the finish with this thesis More importantly she has given so much encouragement spiritually upon some difficulties I was confronted at the start of the new job and life incidents I would also like to thank Professor Jean Pierre Baeyens, who has inspired me to this subject I feel that this is not a complete piece of work that can be applicable to the school as his expectation but I hope to continue further with this subject Last but not least, I really thank very much Serge Bywalski, Chi Nguyen Thi Mong Thuy and Ngoc Hien who have given me favorable conditions to implement this thesis I would also name here my classmate Le Quang Vinh for his nice company in the class and group work All the good results of my study and then in work and life, I would like to offer to my Mom for her GREATNESS Thank you very much! iii TUTOR’S COMMENTS iv CONTENT DECLARATION i ACKNOWNLEDGEMENT ii TUTOR’S COMMENTS iii CONTENT iv LIST OF FIGURES v LIST OF TABLES vi I ABSTRACT 1 Background to the topic of thesis Executive summary Objectives of the thesis Scope of the thesis II LITERATURE REVIEW Brand and Branding Brand equity (customer based brand equity) Brand identity and Brand Image Positioning and Value proposition III BRANDING STRATEGY Strategy formulation Information about Solvay Brussels School (SBS) 10 2.1 Solvay Brussels School 10 2.2 Solvay Brussels School in Vietnam (SBS-VN) 11 Market Analysis 13 3.1 Post graduate education 13 3.2 Competitors 14 Research 16 4.1 Research rationale and question 16 4.2 Methodology 17 4.3 Sampling 18 4.4 Data collection 19 4.5 Data presentation and findings 19 Brand Building 26 5.1 Positioning 26 5.2 Value proposition 27 5.3 Brand building block 28 IV CONCLUSION 33 V REFERENCES AND APPENDIXES 34 v LIST OF FIGURES Figure I-1: From Brand assets to Brand equity Figure I-2 - Brand Equity Figure II-1 - CBBE Customer-Based Brand Equity Pyramid/Brand building block 10 Figure II-2 - SWOT analysis on SBS-VN brand 12 Figure II-3 - Research process 17 Figure II-4 - Gender of respondents (alumni) 20 Figure II-5 - Gender of respondents (prospects) .20 Figure II-6 - Age groups of respondents (Alumni) 20 Figure II-7 - Age groups of respondents (prospects) 20 Figure II-8 - Average monthly income in mil dong (alumni) 21 Figure II-9 - Average monthly income in mil dong (prospects) 21 Figure II-10 - Reason to take postgraduate study .21 Figure II-11 - Method of searching for the information about the programs 22 Figure II-12 - Expectation for taking an MBA (or MBA -like) program 23 Figure II-13 - Criteria for program consideration .24 Figure II-14 - Critera for program selection .25 Figure II-15 - Good exsiting features of SBS-VN 26 Figure II-16 - Negative perceived features of SBS-VN 26 vi LIST OF TABLES Table II-1- Competitors summary 15 Table II-2 - Reasearch problem intepretation 18 Table II-3 - Sampling selection 19 Table II-4 – Positioning 27 I ABSTRACT Background to the topic of thesis The development of the economy of Viet Nam since the beginning of the nineties has reshaped the business environment in the country and in turn given impacts on other aspects to the constant progress including education For the past ten years Viet Nam experienced the impressive economical growth creating the increasing demands for the knowledgeable and experienced people to continue and maintain the positive nation economic status From the viewpoint of enterprise, through the crisis period over the recent years has occurred, talented people with deep knowledge of profession and management are always in high need At the mean time, challenges coming up one after the other in the working environment enforce the expectation of expertise level to be higher Expertise can be gained through long experience and by education and training This implies that opportunities are given to any parties who can contribute to build up the quality education Nevertheless, with the open policy to the foreign partners to join the Vietnamese education, the situation has been tough for educators to operate to the proper requirement of the local government Quite many foreign schools entering Vietnam has caused confusion for the learners to select the right and the good schools serving their needs Consequently, it requires the educators to create value differentiations to stand out from the crowd Likely, the school must have a long term and sustainable branding strategy I write this thesis with two reasons Firstly, I have to prove that the knowledge I have learned can be of actual use and applicable to my work Secondly, with the subject of the thesis being “branding strategy for Solvay Brussels School in Vietnam”, I hope to contribute some ideas to the operation of the school At the end of the day when the school is well branded and recognized widely and highly, I and my class fellows and others can enjoy it Executive summary The thesis starts with some literature reviews, covering all the concepts that supports fundamentally for setting the strategy Firstly, some definitions about brands and branding are extracted from various sources Though phrasing in different ways, most of the definition share commonality Brand Equity is another concepts that are mentioned the most when people discuss about brand strategy As it includes four elements, this part also points out different point of views on brand name awareness, brand loyalty, perceived quality, brand associations; the utilization of this review is not reflected as a whole but in different part in the branding process The next part in the review refers to brand identity and brand image because basically, they are the very first items to think about when talking about branding To determine the brand identity and then to turn it into brand image via communication, positioning and value proposition must be set well and this is the part flowed in the literature review Chapter III is for the strategy setting stating with the strategy formulation to give some rationales how the strategy is set and its process flow In particular, any branding or marketing strategy must start with the understanding about internal and then external Chapter II shows firstly the overview about the Solvay Brussels School at home country and then in Vietnam The next analysis is on the market in term of the general situation with post graduate education in Vietnam and the summary of the observation on the competitors who provide the programs in the same category The research on the customers (the learners who have experienced the brand and the prospects who have probable intention to use the brand) is the important part in this chapter to find out the key points for setting the content of the branding which is oriented to the customers In this part, it explains the process, the methodology, the sampling method and then displays the data with finding comments From all the outcome of the analysis and research, it comes to some suggestion on the positioning and translates it into a value proposition that makes Solvay Brussels School in Vietnam and its programs different The key of this part is the brand building block that covers some ideas to build up brand salience, brand performance, brand imagery, brand judgment, brand feelings and brand resonance The appendixes shows the questionnaires for the research and the programs information Objectives of the thesis From the academic point of view, the thesis helps to show the application of the knowledge that the writer both acquired from the courses and collected from the books by brand specialists On the practical side, the thesis is aimed at giving a relative understanding on the perception of previous and current learners of the programs that Solvay Brussels School in Vietnam provides From there, the write suggests a branding strategy (at the fundamentals) that supports the long term operation of the school in Vietnam Scope of the thesis This thesis works on the branding strategy for Solvay Brussels School in Vietnam For the limitation in time and experience, the branding strategy in this paper does not cover communication and the implementation plan but shows some suggestion for the foundation of a the brand strategy, which is some aspects for the base It focuses mainly on the brand knowledge with the shaping up the brand equity based on analysis of customer’s needs and expectations Besides, the brand management is not included in this paper The brand is mentioned as Solvay Brussels School in Vietnam with master programs for executive and not doctorate levels II LITERATURE REVIEW Brand and Branding Previously the definition of a brand was: “the name, associated with one or more items in the product line, which is used to identify the source of character of the item(s)” (Kotler 2000, p 396) The American Marketing Association (AMA) definition of a brand is “a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors” (p 404) Within this view, as Keller (2008, p3) says, “Technically speaking, whenever a marketer creates a new name, logo, or symbol for a new product, he or she has created a brand” As the brand was only part of the product, the communication strategy worked towards exposing the brand and creating brand image, which can be understood as parts of the branding process Aaker and Joachimsthaler (2000) mention that within the traditional branding model the goal was to build brand image; a tactical element that drives short-term results Kapferer (2008) mentioned that “the brand is a sign - therefore external- whose function is to disclose the hidden qualities of the product which are inaccessible to contact” (p 28) The brand served to identify a product and to distinguish it from the competition Kapferer (2008) mentions that before the 1980’s there was a different approach towards brands Some firms wish to buy production capacity and some others want to buy a place in the mind of the consumer” (p 23) This distinction is very important; In other words, the shift in focus towards brands began when it was understood that they were something more than mere identifiers Brands, according to Kapferer (2008) serve eight functions shown in Figure II-1, the first 36 http://www.kinhdoanh.edu.vn/cao-hoc/thac-sy-quan-tri-kinh-doanh-mba/thac-syquan-tri-kinh-doanh-mba.html Some information about the post-graduate in Vietnam http://truongvietnam.net/news/m%E1%BA%ADp-m%E1%BB%9Dch%C6%B0%C6%A1ng-tr%C3%ACnh-th%E1%BA%A1c-s%C4%A9li%C3%AAn-k%E1%BA%BFt-qu%E1%BB%91c-t%E1%BA%BF http://caohockinhte.info/forum/forumdisplay.php?f=354 http://www.thanhnien.com.vn/Pages/20100614/map-mo-chuong-trinh-thac-si-lienket-quoc-te.aspx http://nhabaotre.vn/home/bs/index.php?mod=tintuc&id=1284024545&tab=&page= http://www.saga.vn/Giangduong/Daotao/DaotaoMBA/13648.saga http://www.moet.gov.vn/?page=1.14 37 2/ Appendixes Appendix – Survey form with the alumni Survey We are in a group of learners who are taking the master program in business management and marketing by Solvay Brussels School and The Open University of HCMC We are working on the survey about “Factors that influences the decision to take post graduate study” In this survey, there is no correct viewpoint or answers which are for the purpose of information collection Therefore, we would like to have your sincere supports Please take some time to answer the question as underneath to your best knowledge and experience Some of the people we have interacted have shred a few comments and judgments about taking the executive master programs Please could you share the extent of agreement on the followings based on the scale? 1= totally disagree; = Disagree on some points; = no disagree neither agree; = Agree on some points; = totally agree Have you got master degree yet? Yes Not yet Yes No Do you have intention to take post graduate study The reason you think of taking post graduate study? Follow the set plan – to study further up to doctorate To have additional higher degree in economics part from techniques To supplement the knowledge in various fields For favorite because of favorable conditions to study further To target the management level in the career path How will you select the programs? Personal recommendation (friends) Search on the internet Contact directly Advertising Seminars 5 38 1– Total disagre e 5= Total agree 5 c To get higher social status d To support for promotion in career e To get/change for a better job a The content of the program fits the needs and the career objectives b The name of the program revoke the content of the programs c The lecturer’s profile d The portion between theoretical and practical (lecture methodology) e Joint programs or domestic f Information of the previous learners g General programs or specialized programs a Tuition level b Brand of the program in Vietnam 5 What is your expectation to an MBA program? a High recognition in Vietnam and the world b To provide knowledge for career (to improve profession and management) What criteria will you set to select an executive master program? What factors will you consider to decide joining the program? 39 c Brand of the foreign partners (university) in d Time (part time or full time) e Venues (locations) the world 10 How old are you? 20 – 29 30 – 39 40 – 49 50 – 59 60 or older What is your average monthly income (in VND)? 2,000,000 – 4,499,999 4,500,000 – 7,499,999 7,500,000 – 14,999,999 15,000,000 or more What is your gender? Male Female  Many thanks for your taking time to answer this survey Wish you good health and success 40 Appendix – Survey form with the prospects Survey We are in a group of learners who are taking the master program in business management and marketing by Solvay Brussels School and The Open University of HCMC We are working on the survey about “Factors that influences the decision to take post graduate study” In this survey, there is no correct viewpoint or answers which are for the purpose of information collection Therefore, we would like to have your sincere supports Please take some time to answer the question as underneath to your best knowledge and experience Some of the people we have interacted have shred a few comments and judgments about the executive master programs Please could you share the extent of agreement on the followings based on the scale? 1= totally disagree; = Disagree on some points; = no disagree neither agree; = Agree on some points; = totally agree The reason you take post graduate study? Follow the set plan – to study further up to doctorate To have additional higher degree in economics part from techniques To supplement the knowledge in various fields For favorite because of favorable conditions to study further To target the management level in the career path How you select the programs? Personal recommendation (friends) Search on the internet Contact directly Advertising Seminars 1– Total disagre e What is your expectation to an MBA program? 5= Total agree 41 f High recognition in Vietnam and the world 5 h To get higher social status i To support for promotion in career j To get/change for a better job h The content of the program fits the needs and the career objectives i The name of the program revoke the content of the programs j The lecturer’s profile k The portion between theoretical and practical (lecture methodology) l Joint programs or domestic m Information of the previous learners n General programs or specialized programs f Tuition level g Brand of the program in Vietnam 5 i Time (part time or full time) j Venues (locations) g To provide knowledge for career (to improve profession and management) What criteria did you set to select an executive master program? What factors you consider to decide joining the program? h Brand of the foreign partners (university) in the world 42 What features are you satisfied about after taking the executive master programs by SBS-VN and the OU? a Practical lessons b Reasonable tuition c Good seniority d Generally good curriculums e Course time suitable to working people a Clear initial orientation b Thesis tutors c Lecturers’ English d Pre-course logistics What features are you satisfied about after taking the executive master programs by SBS-VN and the OU? 10 How old are you? 20 – 29 30 – 39 40 – 49 50 – 59 60 or older What is your average monthly income (in VND)? 2,000,000 – 4,499,999 4,500,000 – 7,499,999 7,500,000 – 14,999,999 15,000,000 or more What is your gender? Male Female 2 43 Many thanks for your taking time to answer this survey Wish you good health and success Appendix – Details of the currently running programs MBA (Part time study) This two year program is designed to educate managers in the business sector The courses are organized of non-working hours on weekdays or during weekends All courses use Solvay Brussels School of economics & management - ULB teaching curricula, both in structure and content Design of the program in HCMC (NEW curriculum!) Program The whole program is divided in modules During the first year, students will go through the foundation of a strong MBA program and complete modules: 1) Business Environment (4 courses)     Global economic & geopolitical issues Social regulations & coporate social responsibility Managing the future International business law 2) Management Fundamentals (6 courses)       Strategy and corporate governance Accounting & control systems Corporate finance Marketing management Human resources management Management of business systems At the end of this first year, students will work on a specialized business case (personal assignment) Second year, students will go through another modules 3) Integrative management (5 courses) 44      Business & financial planning Seminar of management and organization Management of innovation Strategic business intelligence Project management This module will be completed by a 10 days trip in Europe (called the Entrepreneurial week); if students are unable to make the trip to Europe, they will work on a consulting project in Vietnam (called the International business field project) 4) Soft skills     People leadership and team empowerment (this will come in the form of a residential week-end seminar at the beginning of the program) Personal communication, business argumentation & negociation Career management and personal branding Final master's presentation (grand oral) Trip to Europe or IFBP Students will have the choice to either go for 11 days in Belgium, at the heart of Europe, or stay in Vietnam to work on an International Business Field Project The “European week”, though being 11 days, will take place on the 2d year of study It will focus on entrepreneurship and the European context (Brussels is the capital of Europe, where all major European institutions have their headquarters) Students will work on a consulting assignment in teams and follow a seminar on entrepreneurship Those choosing this option will have to budget another 4,000$ to cover all expenses Students staying in Vietnam will work in teams on real consulting projects coached, by senior consultants in Vietnam Tuition fee: 10,000$ /program, not including the trip to Europe (optional) -MASTER IN MARKETING & ADVERTISING The Master in Marketing and Advertising (major in Advertising) will consist of a total of 324 hours of evening classes (6:00 till 9:00 p.m.), spread over a 20 months period 45 Program The whole program is split into modules Fundamentals of Marketing courses (144h)  Strategic marketing management – Marianne Claes  Management accounting & control systems - Stéphane Paulus  Business & marketing planning – Olivier Kupferman  Market research, customer behavior & competitive intelligence - Jean Tondeur  Sales & customer relationship management - Fabian Delahaut  Building & managing brands - Christian Bluemelhuber How does communication work? (36h)  Principles of advertising - Alain Van den Eynde  Communication planning & strategic thinking – Neel Guha Integrated communication (54h)  Media management  Digital communication channels - Christophe Cauvy  Press and public relations – Amaury de Saint Martin The creative product (82h)  Creativity & idea generation - Mark Raison  Applied creativity - Véronique Hermans  Advertising judgement - Babak Hosseiny  Getting new business - Lotta Malm Hallqvist Writing an advertising plan (18h)  Briefing on group assignments (briefing/check/questions) + teamwork Philippe Biltiau Tuition fee for the next intake (intake 6, starting in July 2011): 8,900US$ /program - 46 MASTER IN BUSINESS QUALITY AND PERFORMANCE MANAGEMENT The Master in Business Quality and Performance Management (MBQPM) is designed for training present and future managers in industry and services to understand and master organizational processes and improve organizational performance through the use of quality, control and improvement principles and tools Courses take place every evening (starting at 6pm), comprising sessions of hours each The program’s duration is 22 months with a new course each month on average The program is composed of the following modules: Principles and requirements for quality and performance management Quality Management Systems Audit Project Management Process Management Strategy and Total Quality Management, integrated systems, Excellence models Service Quality and performance Human Resource Management, quality and performance Design Quality 10 Environmental Management 11 Sustainable Development 12 Performance evaluation and continuous improvement Final project: At the end of the program students will have to produce a final project monitored by individual coaching Tuition fee (February 2011 – December 2012): 7,300 US$ -EXECUTIVE MASTER IN ENTREPRENEURSHIP in partnership with Fideco and HCMC University of Technology (HUTECH) The Program 47 This 1-year program aims at entrepreneurs who wish to create or develop their new business It answers the needs of any creator to set up a clear strategy for the entreprise, to choose the right management and to write a convincing business plan for raising capital While on average 40% to 50% of new ventures desappear after years of business, 93% of the 333 companies created since 1986 by our students in Belgium are still in business! This unique program, animated by European experts working on the field will be for the first time entirely taught in Vietnam, in high- end rated facilities (19th floor of Fideco Tower in Ham Nghi street, district 1) It is composed of modules and coaching sessions, comprising the essential elements for achieving a successful business: The entrepreneurial process: Starting & growing your business The entrepreneurial strategy The entrepreneurial finance The entrepreneurial behavior Operations & IT Sales & operational marketing During the whole program, students will benefit from face to face coaching sessions, individually and in groups and from a feedback of a panel of investors and expert players in supporting new ventures in Vietnam Content of the program in details Module 1: the entrepreneurial process    Detecting key success factors in creating and growing a business Understanding the process starting from opportunity & leading to business start up Structuring the business plan Module 2: entrepreneurial strategy    Being able to outline the strategic forces influencing the project business environment Understanding the strategic formulation process Formulating the business creation and growth strategy of the project 48 Module 3: entrepreneurial finance    Understanding the key financial dimensions of starting & growing a business Being able to write the financial plan of the project Recommending credible alternatives for financing the project Module 4: entrepreneurial behavior    Understanding the nature of leadership to lead company to success Being aware of its own style and how to adapt it for being a true entrepreneurial leader Acquiring skills to better manage time, stress situation and conflicts Module 5: operation & IT    Understanding the importance of building a business operating system consistent with the strategy Understanding the role of IT as a business booster more than an administrative too Being able to recommend an integrated supply chain model aligned with strategy of project Module 6: sales & operational marketing    Having a plan to get the very first sales Being able to set sales objectives Being able to set up a communication plan with budget Coaching sessions   Individual coaching: to put into practice what you have learned during the lectures, directly on your project Group coaching: organized as workshop to help you present and 'sell' your project The experts at your service All our experts in this program are consultants or experienced managers of businesses, with strong experience in teaching All along the lectures, you will realize that what they teach, they also practice! Olivier Witmeur (the entrepreneurial process)  Ph.D at Solvay Brussels School 49    Chairman of the Brussels Council for Research & Innovation Policy Owner OMCR Ltd Professor at Solvay Brussels School Daniel Spindler (entrepreneurial strategy)    Master in business management, Solvay Brussels School MBA at Columbia University Consultant at Spindler & Associates Marc Dechamps (entrepreneurial finance)      Civil engineer in applied mathematics Bachelor in Law and Economics (Université Catholique de Louvain) Master in management at Stanford University, USA President of Investructure Professor at Solvay Brussels School, HEC Liège and EDHEC (Lille) Fabian Delahaut (entrepreneurial behavior)     Bachelor degree in Philosophy MBA at Solvay Brussels School Lecturer at Solvay Brussels School and HEC Liège Administrator of several companies Philip Barzin (operation and IT)   Master in Electrical Engineering Partner at BSB Management Consulting Claude Boffa (sales and operational marketing)     Master in business management, Solvay Brussels School Partner, Coach Europe Accredited consultant Walloon Region Lecturer at HEC Liège Eric Vandoorne (coach)    Master in business management, Solvay Brussels School Associate founder and managing director Pardimmo s.a and several other ventures 1.1 Who should join this program? 50 A) The new entrepreneur You have an idea of business or you wish to take over an existing activity You have gained competencies you wish to use in the context of a new venture Your project or existing company has a potential for growth B) The recently effective entrepreneur You are managing a newly created company (2 years max) and you wish to grow your business Your project or existing company has a potential for growth Program fee: 12,500 US$ paid in installments ... Vietnam 3 Scope of the thesis This thesis works on the branding strategy for Solvay Brussels School in Vietnam For the limitation in time and experience, the branding strategy in this paper does... with the subject of the thesis being branding strategy for Solvay Brussels School in Vietnam , I hope to contribute some ideas to the operation of the school At the end of the day when the school. .. of the programs that Solvay Brussels School in Vietnam provides From there, the write suggests a branding strategy (at the fundamentals) that supports the long term operation of the school in Vietnam