THANG LONG PETRO CONSTRUCTION INVESTMENT JSC

VIETNAM COMMERCE UNIVERSITY Licence professionnelle Commerce spécialisation Métiers de la Vente Academic Year 2019–2020 TUTORED PROJECT TABLE OF CONTENTS TABLE OF CHART ACKNOWLEDGEMENT Having the decision to carry out the group internship, we have finally completed this report on real estate marketing strategy after three months working under the Thang Long Petro Contrustion Investment JSC First of all, we would like to express our sincere gratitude to the teachers of Vietnam Commerce University and Jean Moulin Lyon for all their support and guidance to able to finish this graduate report In particular, we have received a lot of attention and help from Professor Corrine Montoya and Ms Nguyen Hien Anh Without their help and encouragement, we would never be able to anything in the right direction and get this result as well Finally, we would like to show our deepest apprication to Thang Long Petro Construction Investment JSC and the staff members here for giving us the opportunity and resources to complete this project CHAPTER 1: REASON FOR CHOOSING THE PROJECT AND A BRIEF INTRODUCTION ABOUT THANG LONG PETROLEUM CONSTRUCTION INVESTMENT JOINT STOCK COMPANY 1.1 Reason for choosing the project The real estate market has become extremely exciting since Vietnam’s transition to a market economy mechanism, along with amending the land law, housing ownership laws, demographic and household laws, etc., This creates opportunities and challenges for the Company as well as other real estate businesses, especially within Thai Binh city, one of the real estate markets with fast growth Therefore, the Company needs to create a competitive advantage and differentiation for its products to attract people with real housing needs as well as investors One of those measures is to improve the effectiveness of marketing communications This is the question for business managers related to the way to recognize and evaluate marketing activities and marketing communication activities properly and scientifically to promote its role in operations in manufacturing business How executives make marketing communications plans? What tools should be used for business communication? Within the scope of the topic, our team would like to present the actual marketing communication of the Company At the same time, we offer some solutions of communication activities, in order to contribute to improving the efficiency of business operations, contributing to maintain the position and enhance the position of the Company 1.2 Introduction about the Company Company name: THANG LONG PETRO CONSTRUCTION INVESTMENT JSC Address: Cienco Tower 1, Hoang Dao Thuy street, Nhan Chinh, Thanh Xuan district, Hanoi Tel: (+84)46 285.9778 Website: daukhithanglong.com Business : contruction and real estate Vision and Mission: • Become one of the leading companies in finance investment, real estate, services provider in domestic and oversea areas Always be the number one choice for all customers and partners • Guaranteed to offer the best products to customers • Improve the architectural aesthetics, living and working environment for the community and society Core value: • Community benefit is our first priority Our products are driven to put nation and community benefit on the first place The main purpose of our bussiness activity is to create more values for the country • The trust of customers is the main center of our bussiness • We work with all of our hearts and minds to create such precious products Representative: Nguyen Manh Khang Instructor: Luong The Quynh Position: Head of Planning and Contract Department Organization chart of the company: CHAIRMAN OF THE BOARD CONTROL BOARD CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER CHIEF CONSTRUCTION OFFICERCHIEF SALES OFFICER ACCOUNTING DEPARTMENT ADMINISTRATION DEPARTMENT REAL ESTATE EXCHANGE SALES DEPARTMENTPLANNING DEPARTMENT BRANCH OFFICE IN THAI BI REAL ESTATE BUSSINESS AND BASIC PRODUCTION PLANNING DEPARTMENT BUILDING DEPARTMENT ACCOUNTING & ADMINISTRATION DEPARTMENT PURCHASING DEPARTMEN MOTORBIKE TEAM STRUCTURAL TEAMCIVIL ENGINEERS WATER & ELECTRICITY ENGINEER MECHANICAL TEAM Figure 1: Organizational chart Thang Long petro contruction investment join stock Company 1.3 Business results of the company and comments: No Item Unit 2017 2018 Revenue Billion dong 135.8 122.5 Owner’s equity Billion dong 32 38 Average income Person / month 5.5 million 4.2 million Profit before tax Billion dong 10.24 11.02 Profit before tax ratio (on equity) % 32% 29% Table 1: Business results of the company In the past year 2018, the company encountered some difficulties in its organizational structure as well as personnel, causing the company's revenue to decline On the other hand, the profit before tax also increased steadily over the years but the growth rate of profit before tax was low, much lower than the growth rate of equity, making the Profit before tax on equity of the Company decrease significantly Therefore, the Company needs to have a business plan and strategy suitable to the Company’s operating situation in order to achieve higher business efficiency, 1.3 Project planning Time Tasks Oct 1st 2019 – Oct -Learn about the 14th 2019 company and the project - Marketing training and sales activities for the project Objectives Understand project and company knowledge Understand how the project works works phẩm chuyên Person in charge All members Oct 15th 2019 – Analysis of the new Nov 4th 2019 product Conducting surveys on the market Identify target customers Market demand analysis Understand the market and customers Nov 5th 2019 – Nov Designing the 10th 2019 marketing strategy for the product Setting up a All members marketing strategy to fulfill the requirements of the company Sử dụng công cụ All members digital google , facebook and seo Nov 12nd 2019 – Implementing the Dec 30th 2019 digital mareting Implementing the offline marketing activities Implementing the sales activities and taking care of consumers after sales Making some contacts and implementing advertisements media publications Building contents for meseges, banners… Participating in promotional programs Making good impression with customers with the desire to cooperate in other projects of the company All members Hoang Duc Thuan Le Thi Hong Anh Ngo Thi hai Yen All members All members Table 2: Marketing project planning Learn about Riverside New Town project in Vu Quy - Vu Trung communes, Kien Xuong district, Thai Binh province 2.1 Project location The project is located in two communes Vu Trung - Vu Quy which are two communes with relatively synchronous technical infrastructure, especially Vu Quy commune with 39B route along with synchronous and economic technical infrastructure for social development The project is adjacent to the existing residential area, creating a premise to develop and fill the population in a short time The area adjacent to agricultural land creates favorable conditions for the Investor to plan infrastructure synchronously, quickly and smoothly - Viet Quy petrol station: near the project - Vu Quy Medical station: close to the project - Preschool: close to the project - Van Trung Thang River: middle of the project - Adjacent to 39B route - Near the commune ‘s biggest Soc market - Near the Industrial Park - Distance away from Thai Binh City: 7.1Km 2.2 Competitive project location - Currently, the project has only one competitor, the land waiting to be auctioned behind the gas station of Vu Ninh Commune: The project is currently deploying the infrastructure with a 3grade aggregate which has formed and is relatively convenient, closer to the city than Vu Quy - Vu Trung Riverside project (The starting price is 4,300,000 / m2) - In addition, the surrounding areas are mainly residential areas on both sides of road 39B or low-end residential areas without integrated planning and stratification - Currently, the project area has no apartments, commercial townhouses in synchronized architecture Residential areas on both sides of the river have no synchronized landscape architecture 2.3 Basic information about the project 10 CHAPTER 5: SOLUTIONS FOR THANG LONG COMPANY TO IMPROVE THE SITUATION AND EXPAND THE PRODUCT CONSUMPTION MARKET 5.1 General solution From the above analysis results, it can be seen that the biggest problem of the company in the marketing policy is the optimization of the effective allocation of budget resources along with building a roadmap combining marketing and sale We met together with consultation from the company’s marketing manager to build solutions for the company as well as the implementation roadmap in the near future to improve advertising efficiency Here are the marketing channels that can be used by the company in the future: - Selecting channels to approach customers (agreed with the Investor in each phase) - Thai Binh Television Advertising / VTV Television (The program needs cooperation between Thang Long and the investor) - Advertising in the Provincial newspaper - Outdoor Advertising / Banner / Poster (This is the part that needs to be agreed on the strategy and plan of the investor on the plan as well as the plan that can be fully developed then - Events before, during and after the sale With the current budget for marketing, it can be said that allocating that budget appropriately and optimally will also contribute to optimize the business performance of the company In fact, the advertising and communication for products in the provinces will be completely different from in the big cities because of the interaction behavior, habits, and different cultures To solve this, traditional marketing tools will not be as effective as modern marketing tools We will present a communication solution through the social network Facebook that we have collaborated with the company to build - Digital marketing: 5.2 Optimize and apply digital marketing to product communications This analysis is based on Google and Facebook statistics showing that the market has a lot of potential with Digital Marketing channels .The number of keyword searches for projects is a security company metric, so we won’t provide it However, from the following data, it can be seen that the potential from the Banner market to display ads on newspaper pages is also quite good, the number of online users reading news at vnexpress.net, tin247.com, xaluan com, etc., relatively high Analytical data from Facebook Audience Insights (customers living in Kien Xuong District and the vicinity of Thai Binh and Nam Dinh, aged 30-55) showed that there were about 100 Thousand logins / month 26 27 Figure 5: Facebook Audience Insights analyse 5.3 Roadmap for implementing marketing plans and sales deployment plans At the time before the official launch plan, the company held a meeting to plan marketing and sales in phases We sent research information and data to the company through Figure 6: Facebook Audience Insights analyse a manager After that, we made the company feel atisfied with what we had done during the internship and decided to give us a very valuable practical opportunity to help the company develop a marketing plan for the product, necessary roadmaps to search for service providers and make cost estimates Besides, we did work with the sales department to convey the content between the two parties, thereby building a unified roadmap between the marketing department and the sales department 5.3.1 28 Marketing roadmap IMPLEMENTATION No CONTENT EXECUTION TIME PREPARATION OF MEDIA MARKETING INFRASTRUCTUR E Objective: Professional publications, consistent message and design Estimated time: month Design brochure, flyers, paper bags, standee, banners, posters (sales documents) Print Leaflets Print Brochure Print Paper Bags Print Clip file Project standee Print Large billboard Hang large poster board (5 months) Design Project website Website admin TOTAL MARKETING FOR SALES PHASE BEFORE UNIT DISTRIBUTION ANNOUNCEMENT WORKSHOP 29 Completed weeks before the distribution workshop Completed weeks before the distribution workshop Completed weeks before the distribution workshop Completed weeks before the distribution workshop Completed weeks before the distribution workshop Immediately after completing the Design Objectives: pioneer A super complex project of Thai Binh province Estimated time: weeks Immediately after signing Project seeding the project distribution contract Immediately after signing Post on 150 leading reputable the project distribution classifieds sites in Vietnam, contract and the investor refresh every day decided the project Promote on facebook environment Distribute 10,000 leaflets Run SMS SPAM to the customer databases PR articles on newspaper workshop organization plan Immediately after signing the project distribution contract Lasts weeks to the day the project and the distribution unit announcement workshop Immediately after signing the project distribution contract week before the distribution unit announcement workshop - Specialized real estate page of Investment Newspaper Thai Binh newspaper week before the project PR articles on online newspaper and distribution unit announcement workshop 30 Specialized real estate page of Electronic Investment Newspaper CafeF, VnEconomy, Dantri, Vn Express… Broadcast in TVC + Invitation week before the letter to the Distribution unit distribution unit announcement workshop & announcement workshop Lucky Draw Program (VTVCAP Thai Binh in Golden Hour Frame) Printing + hanging banners on roads in Thai Binh city, ward, industrial zone and workshop venue Organize the the project and 10 distribution unit announcement workshop Rent the hall Festivities Teabreak Art MC Other Communication after the 11 conference Broadcast in TVC + Announce - winning customers + Acknowledgments - Report on the newspaper - News on the Internet Immediately after the workshop Immediately after the workshop Immediately after the workshop TOTAL MARKETING - SALES PERIOD AFTER THE WORKSHOP OFFER 50% OF TOTAL PRODUCT COMMISSION Objectives: Affirming the commitment of the investor,ư, Estimated time: month 31 Telesales with potential Immediately after the customers after the workshop Sales event on the weekend workshop From the week immediately after the Digital marketing mix: facebook, youtube, adwords … Advertise in the provincial workshop Immediately after the workshop newspaper on commitments on progress (Project Poster format Online newspaper advertising (CafeF, VnEconomy, Dantri, Vn Express ) Local radio congratulates customers on receiving promotional gifts Printing + hanging banners on roads belonging to districts in Thai Binh Distribute Leaflets in districts of Thai Binh Reportage was broadcast on local television about the speed of the Immediately after the sale event at the weekend Week after the seminar Week after the seminar weeks after the workshop project TOTAL MARKETING - SALES IN PHASE - OFFER 30% PRODUCTS FUND Objectives of communication: Emphasis opening Estimated on route time: months 32 Review meeting on sales in phase Organize direct sales to businesses in Thai Binh area with a large number of officers Distributing leaflets focused on officials of enterprises Campaign to sell products sold in month after the workshop Week after the workshop lasting month Along with direct sales phase with new prices higher Organize the ceremony of the main routes of the project and start the urban infrastructure News about the completion of project infrastructure (Thai Binh VTVCAP in Golden Hour Frame) Online reporting (CafeF, VnEconomy, Dantri, Vn Express ) Advertising in provincial newspapers updates the new progress (Project Poster format) In the middle of phase Right after the route clearing ceremony Right after the route clearing ceremony Right after the route clearing ceremony From the week Sales event on the weekend 10 Digital marketing TOTAL immediately after the ceremony SALES MARKETING IN PHASE - OFFER 20% REMAININGFUND Sales communication objective: Affirming the investor’s schedule commitment actual by project; Increase profits for investors Estimated time: 3.5 months TV advertisement of the last sale (VTVCAP Thai Binh in Golden hour frame) Advertising in provincial newspaper on final sale (Project Poster format) Online newspaper advertising 33 weeks after the second phase review meeting weeks after the second phase review meeting weeks after the second (CafeF, VnEconomy, Dantri, Vn Express ) Organize customer care event + phase review meeting month after the route last sales session Organize a community event for clearing ceremony After closing the payment future residents of Damsan Phu of the second phase’s Xuan Digital marketing guests Table 5: Marketing roadmap planning The marketing roadmap will consist of basic phases, spread from the time before the sale starts until the fund for sales is less than 20% The marketing plan will be implemented long but according to the results from the meeting, for this product, the company will spend up to 70% of budget on digital marketing to optimize advertising effectiveness The company will prepare personnel plans for the related campaigns, expected to recruit 3-5 staff to the position of Digital Marketing 5.3.2 Sales deployment plan From the survey and evaluation of internal project, customer tastes, market segments and competitive projects, we built an overview of the sales plan with Reverside Vu Quy-Vu Trung Ly Bon project of Investor of Petroleum Construction and Investment Joint Stock Company as follows: Deployment phases: (commencing deployment on September 18, 2019) - months before the official opening ceremony - Phase - Before the official opening ceremony month to weeks - Phase - Official opening ceremony after months of opening - Phase - After sale period of months onwards - Phase - The phases of sales deployment of Thai Binh Land must closely follow the progress of technical infrastructure construction of the Investor Estimated ability to sell at phases a) Phase 1: Deploy customer consultancy with “Capital Contribution Contract" divided into phases: - Phase 1: deposit VND 50,000,000 (Fifty million dong) (Customer has a deposit agreement - sign with distributor) - Phase (after 7-10 days from the date of signing the deposit agreement): The customer submits 30% of value of the land lot including VND 50,000,000 paid in the phase The customer sign “Loan agreement” with the investor, receive a 30% receipt from the 10-15 days of waiting to pay the contract" 34 - Phase (after months from phase 2): The customer pays 40% of the plot value (The customer receives a receipt of 40% from the investor) - Phase (The Investor completes infrastructure): The customer submits the money transferred to the sale contract and submits the certificate of land use right In this phase, depending on the subdivision, the investor implementing the project will deploy sales at the recommended price and the way the investor offers b) Phase 2: Sell more and start deploying communication to promote sales of up to 40% of sales list c) Phase 3: Deploying Marketing and Sales activities before the opening ceremony target of 65 - 72% of sales list d) Phase 4: Maintain the remaining stock in the shortest possible time to incorporate a long-term marketing program - but still maintain a good effect Sales plan at each phase: A Phase 1: months before opening sale a) Direct sale: - By area: Exploiting the market of investors - By business line The target is business households and business market development, owners of small and medium enterprises - directed at the areas with advantages of business development - Tools for exploiting and finding potential customers: Data Customer investment; Data block of enterprises in the district and province classified by the business line (all data systems have been operating well) b) Communication: Directly targeting customers who are familiar investors of the company No broad communication on mass media is required B Phase 2: month - weeks before opening sale - Urgently collect information of interested customers to prepare for the opening ceremony - Prepare for the event that the amount of customers ready to cash down at the project opening ceremony - Carry out intensive training on the project for human resources - Working with the Investor to develop the Q&A (Questions and Answers) on all project-related issues - Training for sales team - Working with the Investor to complete media publications to prepare for the opening ceremony - Complete the Sales kit for the Sales Team - Check and test the sales team before the opening ceremony Approved the opening sale program with the Investor, summarize the customer list to prepare gifts for the opening ceremony C Phase 3: Sales until months after opening 35 - Develop total force communication regularly, continuously with high costs, promote sales after the opening of sales - Open the point of sale at the foot of the project to consult customers directly through the project - Collaborate with the investor to promote the opening of media through online tools, television, radio - Promote Telesales, SMS to convey project information, namely the amount of remaining products, transactions, promotions for customers after opening - Deploy exploitation activities to customers in communes and neighboring districts in case of stock availability but exhausted regional communication lines D Phase 4: months after opening sale - Focus on rotating the number of customers who have ever been interested in the project for different Salesmen to avoid the case of losing the opportunity to know more project details - Take care of customers who have entered the Board to have a new sale development introduction - Maintain a moderate but regular communication to develop more images - Give directions for implementing new sale promotion programs - to catch the final wave of the project depending on the market situation and competing projects Evaluation of results of the project and internship period at the company 6.1 Evaluation of results of the project By looking at information related to the current business situation along with information gained from surveys, we found the company's limitations in implementing marketing plans and budget allocation Thereby, we researched and made appropriate recommendations for each issue to help the company improve limitations that affect the sale of the company's products Besides, we dived into researching the real situation to develop specific solutions that the company can consider implementing in the near future, to expand communication methods for pine products through digital marketing tools We have sent the report back to the company about the issues as well as suggestions and received compliments from the company 6.2 Difficulties and experiences gained After finishing the internship plan, we have applied the skills learned in the job and have a lot of practical knowledge that we have not learned at school We have a better understanding of how the company operates and the functions and tasks of each department, the current business environment in Vietnam, as well as the business of construction materials In addition, each member has improved their skills such as processing, synthesizing information, market research, planning, reporting and using applications for work 36 In order to achieve the project results and experience, we have experienced many difficulties, typically limited in terms of project time, integration with the working environment, conflicts during teamwork, difficulty in researching specialized materials, etc However, we have found a way to overcome these difficulties, stemming from the efforts and consensus of everyone to achieve good results for the selected project Conclusion The completed project will mark a new development step of the Company Along with other well-implemented projects, the company has built a strong position in the market, creating trust and support from partners, customers and the public Achieving this result has a significant contribution of marketing activities The board of directors is aware of the role of marketing communications activities and therefore has proper attention to this activity Building a complete marketing communication system that is appropriate for the company's business situation, market trends, and target customers is not an easy task but a result of the effort efforts, timely market awareness of officials and employees throughout the Company Thereby it is possible to maintain the efficiency of business operations, gradually expand the market, seek more partners, continue to achieve high and stable profit growth Particularly for the project, the company may apply many different forms of marketing communications and the initial results were quite positive Up to now, there have been 15% of contracts deposited The project is getting more and more attention of real estate business as well as public opinion Hopefully, in the near future, the company will grow strongly and achieve new successes to become one of the leading real estate businesses in Vietnam! 37 QUESTION TABLE: A PERSONAL INFORMATION: Name: …………………………………… Gender: ………………………………… Year of birth: ………………………………………………………………………… Address: …………………………………………………………………………… Tel: ……………………………………………………………………………… Email: ……………………………………………………………………………………… Occupation: ……………………………………………………………………………… B NEEDS OF REAL ESTATE: What is your purpose of purchasing a real estate property? o Accommodation o Investment / Business o Mixed both accommodation and business purpose Which size of the house faỗade you want? 4m - 4,5m  4,5m - 5m  5m - 5,5m  5,5m - 6m How much are you in need of a commercial townhouse? o Below 60m2 o From 60m2 to 80m2 o From 80m2 to 100m2 o From 100m2 and above How many floors you want for your shophouse? o floors o 2,5-3 floors o 3,5 - floors o – floors What is your preferred type of commercial townhouse?  Get your own construction ground  Get raw delivery  Get forwarded rough home delivery  Get raw deliveries with design recommendations What is the ideal price point for a shophouse that could run a good business in the area (Wide road, high connectivity )? o million - million o million - 8,5 million o 8,5 million - 10 million o 10 million - 12 million What price point that you think is reasonable for a meter square of a real estate 38 property in branch road (brand road from 5-7m, pavement 2m above) in this area? o million - million o million - million o million - million  million - million  million - million If a real estate property in Vu Quy – Vu Trung commune costs from 800 million to billion, would you consider a loan from bank to afford?  Yes  No What ultilities you expect from a new real estate project? o Stadium o Park o Kindergarten o Supermarket o Other ultilities 10 If there is a real estate project that could combine both living and business purposes in Vu Quy – Vu Trung communes, are you willing to invest in? o No o Yes 11 Which channel you usually keep up with the real estate information? o Get information directly from People’s Committee office o Newspaper, magazines o Updates from fanpages on social media o Ask a real estate agent then look up information online C Others opinion: Thanks for your support and consideration 39 EVALUATE MEMBER Name Le Thi Hong Anh Hoang Duc Thuan Cao Khanh Linh Ngo Thi Hai Yen 40 Attending percentage 100% 100% 100% 100% Appraisal Position A+ A B+ A Leader Member Member Member ... Company name: THANG LONG PETRO CONSTRUCTION INVESTMENT JSC Address: Cienco Tower 1, Hoang Dao Thuy street, Nhan Chinh, Thanh Xuan district, Hanoi Tel: (+84)46 285.9778 Website: daukhithanglong.com... this result as well Finally, we would like to show our deepest apprication to Thang Long Petro Construction Investment JSC and the staff members here for giving us the opportunity and resources... project CHAPTER 1: REASON FOR CHOOSING THE PROJECT AND A BRIEF INTRODUCTION ABOUT THANG LONG PETROLEUM CONSTRUCTION INVESTMENT JOINT STOCK COMPANY 1.1 Reason for choosing the project The real estate