The Marketing Strategy of Ha Anh INCOSE Co.,Ltd.doc

The Marketing Strategy of Ha Anh INCOSE Co.,Ltd.

The Marketing Strategy of Ha Anh INCOSE Co.,Ltd Field Study Report ‘‘The Marketing Strategy of Ha Anh INCOSE Co.,Ltd’’ Student: Vi Nhat Anh Class: TATM CN6 A1 1 Vi Nhat Anh TATM CN6 A1 The Marketing Strategy of Ha Anh INCOSE Co.,Ltd Hanoi, November 2009 Field Study Report ‘‘The Marketing Strategy of Ha Anh INCOSE Co.,Ltd’’ Student: Vi Nhat Anh Class: TATM CN6 A1 Supervisor: Bui Nguyet Anh M.A Hanoi, November 2009 2 Vi Nhat Anh TATM CN6 A1 The Marketing Strategy of Ha Anh INCOSE Co.,Ltd Acknowledgements In the process of writing this report, I have gained a great deal in terms of project planning, research methodology and information acquisition But I could never have done this work without the help and advice of many whose ability far exceeds my own With gratitude, I acknowledge a specific debt to my supervisor, Ms Bui Nguyet Anh, for her invaluable advice and personal guidance from the planning stage to the completion of this report My thanks also go to all my teachers at the Foreign Trade University for their devoted teaching and for introducing me to the world of knowledge during my four and a half years at the University Their influence will remain with me for my entire life I would like to thank Ha Anh INCOSE Co.,Ltd for providing the information, data, materials that enabled me to complete my report Finally, I wish to express my deepest appreciation to all people in my family for their love, understanding and encouragement 3 Vi Nhat Anh TATM CN6 A1 The Marketing Strategy of Ha Anh INCOSE Co.,Ltd TABLE OF CONTENTS INTRODUCTION 4 Chapter 1 .5 Theoretical Framework 5 1.1 The concept of marketing 5 1.1.1 The definition of marketing 5 1.1.2 The goals of marketing 7 1.2 Competitive Analysis .7 1.3 Global Marketing Strategy 8 1.3.1 Product 8 1.3.2 Promotion 9 1.3.3 Price 10 1.3.4 Place (distribution channels) .12 1.4 The marketing mix strategies 12 Chapter 2 14 The Marketing Strategy of Ha Anh INCOSE Co.,Ltd .14 2.1 An Introduction to Ha Anh INCOSE Co.,Ltd 14 2.1.1 Company development .14 2.1.2 Company’s products 14 2.1.3 Company’s Organization 15 2.1.4 Board of Directors .15 2.1.5 The departments .16 2.1.6 Company trading results 17 2.2 The marketing strategy of Ha Anh INCOSE Co.,Ltd .17 2.2.1 SWOT analysis of Ha Anh INCOSE Co.,Ltd 17 2.2.2 Strengths 18 2.2.3 Weaknesses .19 2.2.4 Opportunities 21 2.3 Ha Anh INCOSE Co.,Ltd -marketing mix 21 2.3.1 Product 21 2.3.2 Price 21 2.3.3 Place 22 4 Vi Nhat Anh TATM CN6 A1 The Marketing Strategy of Ha Anh INCOSE Co.,Ltd 2.3.4 Promotion 22 Chapter 3:Some Recommendationsto Improve Ha Anh INCOSE Co.,Ltd’s Marketing Strategy 24 3.1 Some recommendations to the Government and relevant authorities 24 3.2 Recommendations to Ha Anh INCOSE Co.,Ltd 24 3.2.1 Improving the company’s marketing mix 24 3.2.2 Building the company’s image 25 Conclusion 27 INTRODUCTION 1 Chapter 1: .2 Theoretical Framework 2 1.1 The concept of marketing 2 1.1.1 The definition of marketing .2 1.1.2 The goals of marketing 4 1.2 Competitive Analysis 4 1.3 Global Marketing Strategy 5 1.3.1 Product .5 1.3.2 Promotion 6 1.3.3 Price 7 1.3.4 Place(Distribution channels) .9 1.4 The marketing mix strategies 9 Chapter 2 11 The Marketing Strategy of Ha Anh INCOSE Co.,Ltd .11 2.1 An InTroduction to Ha Anh INCOSE Co.,Ltd 11 2.1.1 Company development 11 2.1.2 Company’s products 11 2.1.3 Company’s Organization 12 2.1.4 Board of Directors 13 2.1.5 The departments 13 2.1.6 Company trading results 14 2.2 The marketing strategy of Ha Anh INCOSE Co.,Ltd .14 2.2.1 SWOT analysis of Ha Anh INCOSE Co.,Ltd 14 2.2.2 Strengths 15 2.2.3 Weaknesses .17 2.2.4 Opportunities 18 5 Vi Nhat Anh TATM CN6 A1 The Marketing Strategy of Ha Anh INCOSE Co.,Ltd 2.2.5 Threats 19 2.3 Ha Anh INCOSE Co.,Ltd -marketing mix .19 2.3.1 Product .19 2.3.2 Price 20 2.3.3 Place 20 2.3.4 Promotion 21 Chapter 3: 23 Some Recommendations to Improve Ha Anh INCOSE Co.,Ltd’s Marketing Strategy 23 3.1 Some recommendations to the Government and relevant authorities 23 3.2 Recommendations to Ha Anh INCOSE Co.,Ltd 23 3.2.1 Improving the company’s marketing mix .23 3.2.2 Building the company’s image .24 Conclusion 26 References 28 6 Vi Nhat Anh TATM CN6 A1 The Marketing Strategy of Ha Anh INCOSE Co.,Ltd 7 Vi Nhat Anh TATM CN6 A1 The Marketing Strategy of Ha Anh INCOSE Co.,Ltd INTRODUCTION Nowadays, marketing is obviously more and more vital in the success of every enterprise However, not many of the companies in Vietnam have paid adequate attention to marketing activities, especially when both domestic and global competition is getting fiercer and fiercer Being one of the companies specializing in Production line and equipment for foodstuff industry, mechanical engineering, construction machinery in Vietnam, Ha Anh International Commercial Services Company Limited (HA ANH INCOSE CO.,Ltd) has achieved certain successes in this field Its sales of line and equipment for foodstuff industry have increased over the years since its establishment After taking a close look at HA ANH INCOSE CO.,Ltd’ s performance, I decided to choose “Marketing strategies of Ha Anh International Commercial Services Company Limited” as the topic for my field study report with a view to examining Ha Anh International Commercial Services Company Limited’s marketing strategy and making some recommendations to improve it Ha Anh International Commercial Services Company Limited has a lot of business activities, but because of limited time, this report focuses only on the company’s marketing activities for one line of its business, that is line and equipment for foodstuff industry, on the market in Vietnam Apart from the introduction and conclusion, the report is divided into 3 chapters as follows: Chapter 1: Theoretical Framework Chapter 2: Marketing strategies of Ha Anh INCOSE Co.,Ltd Chapter 3: Some Recommendations to Improve Ha Anh International Commercial Services Company Limited’s Marketing Strategy 8 Vi Nhat Anh TATM CN6 A1 The Marketing Strategy of Ha Anh INCOSE Co.,Ltd Chapter 1 Theoretical Framework 1.1 The concept of marketing 1.1.1 The definition of marketing Today’s then central problem facing businesses is not a shortage of goods but a shortage of customers Most of the world’s industries can produce far more goods than the world’s consumers can buy Overcapacity is resulted from individual competitors projecting a greater market share growth than is possible If each company projects a 10 percent growth in its sales and the total market is growing by only 3 percent, the result is excess capacity This in turn leads to hyper competition Competitors, desperate to attract customers, lower their prices and add give away These strategies ultimately mean lower margins, lower profits, more failing companies, and more mergers and acquisitions Marketing is the answer to how to compete on bases other than price Because of over capacity, marketing has become more important than over If forced to define marketing, most people, including some business managers, say that marketing means “selling” or “advertising” It’s true that these are parts of marketing But marketing is much more than selling and advertising Today, marketing must be understood not in the old sense of marketing a sale-“telling and selling”-but in the new sense of satisfying customer needs Selling occurs only after a product is produced In contrast, marketing starts long before a company has a product “Marketing is the homework that managers undertake to assess needs, measure their extent and intensity and determine whether a profitable opportunity exists Marketing continues throughout the product’s life, trying to find new customers and keep current customers by improving product appearance and performance, learning from product sales results and managing performance”1 So what does the term “marketing” mean? Actually, there is no single and universally agreed definition of marketing The American Marketing Association defined marketing “is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual 9 Vi Nhat Anh TATM CN6 A1 The Marketing Strategy of Ha Anh INCOSE Co.,Ltd and organizational goals”2 The writer of the book “The Silk Road to International Marketing” had another definition as follow: “Marketing is the process by which decisions are made in a totally interrelated changing business environment on all the activities that facilitate exchange in order that the targeted group of customers is satisfied and the defined objectives accomplished ”3.Though there are many definitions, a central part of any definitions of marketing is the exchange process – the process of giving something of value in return for something of value Or in other words, it’s the process of transferring between two or more parties of tangible or intangible items of value(see figure 1.1) Cash, debt, time, votes, behavior, etc MMarakrekteetrer Customers GGoooodds,s,SSerevrviciecse,s, Wants and needs ideas, ideas, People and Places People and Places Health, safety, comfort, transportation, beauty, productivity, etc Figure 1.1: the exchange process Source: Courtland L Bovee, Jonh V Thill , “Marketing”, 2nd edition, p.6 For marketing to occur, at least four factors are required: (1) two or more parties with unmet needs, (2) a desire and ability to satisfy them, (3) communication between the _ 1 Amber, T.and Styles, C.(2000), The Silk Road to International Marketing, Harlow: FT Prentice Hall 2 Arch G Woodside(1990), Outdoor advertising as experiments, Journal of the Academy of Marketing science 3 Berkkowitz, Kerin, Hartley, Rudelius, (1990), Marketing, 2nd edition, Irwin McGrawHill 10 Vi Nhat Anh TATM CN6 A1 ... 17 Vi Nhat Anh TATM CN6 A1 The Marketing Strategy of Ha Anh INCOSE Co.,Ltd Chapter The Marketing Strategy of Ha Anh INCOSE Co.,Ltd 2.1 An Introduction to Ha Anh INCOSE Co.,Ltd... Vi Nhat Anh TATM CN6 A1 The Marketing Strategy of Ha Anh INCOSE Co.,Ltd Vi Nhat Anh TATM CN6 A1 The Marketing Strategy of Ha Anh INCOSE Co.,Ltd .. .The Marketing Strategy of Ha Anh INCOSE Co.,Ltd Hanoi, November 2009 Field Study Report ‘? ?The Marketing Strategy of Ha Anh INCOSE Co.,Ltd’’ Student: Vi Nhat Anh