Some solutions to complete mixed promotion policy for GEM TVT products of thai van tuong electromechanical construction joint stock company

ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH - LÊ DUY TUẤN SOME SOLUTIONS TO COMPLETE MIXED PROMOTION POLICY FOR GEM-TVT PRODUCTS OF THAI VAN TUONG ELECTROMECHANICAL CONSTRUCTION JOINT STOCK COMPANY MỘT SỐ GIẢI PHÁP NHẰM HỒN THIỆN CHÍNH SÁCH XÚC TIẾN HỖN HỢP CHO SẢN PHẨM GEM-TVT CỦA CÔNG TY CÔ PHẦN CHẾ TẠO XÂY LẮP CƠ ĐIỆN THÁI VẠN TƯỜNG LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH HÀ NỘI - 2019 ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH - LÊ DUY TUẤN SOME SOLUTIONS TO COMPLETE MIXED PROMOTION POLICY FOR GEM-TVT PRODUCTS OF THAI VAN TUONG ELECTROMECHANICAL CONSTRUCTION JOINT STOCK COMPANY MỘT SỐ GIẢI PHÁP NHẰM HOÀN THIỆN CHÍNH SÁCH XÚC TIẾN HỖN HỢP CHO SẢN PHẨM GEM-TVT CỦA CÔNG TY CÔ PHẦN CHẾ TẠO XÂY LẮP CƠ ĐIỆN THÁI VẠN TƯỜNG Chuyên ngành: Quản trị kinh doanh Mã số: 60 34 01 02 LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH NGƯỜI HƯỚNG DẪN KHOA HỌC: TS PHẠM VĂN HỒNG HÀ NỘI - 2019 DECLARATION I commit that my thesis is completed on the basis of my understanding and the process of my research, effort and performance under the guidance of Dr.Pham Van Hong My research study does not copy from any individual or organization The data and results stated in the Thesis are honest And the information cited in the Thesis is clarified its origin Hanoi, February 20, 2019 Student Le Duy Tuan ACKNOWLEDGEMENT I would like to send my sincere thanks to the Hanoi School of Business and Management for facilitating me all favorable conditions to complete my Master's degree in Business and Management I would like to send my deep thanks to Dr.Pham Van Hong for his enthusiastic and devoted instructions that help me well complete this thesis I would also like to express my gratitude to my organization, teachers, colleagues, family and friends for their support, encouragement and share during my study and completion of the thesis Despite my effort, the thesis does certainly not avoid errors, so it is expected to receive special attention and contribution of the management, colleagues and the people who are interested in my thesis for my completion Yours sincerely, Hanoi, February 20, 2019 Student Le Duy Tuan TABLE OF CONTENTS LIST OF FIGURES LIST OF TABLES INTRODUCTION Rationale…….……… ………………………………………………………….9 Study review.…… …………………………………………………………….10 Study objectives… …………………………………………………………….10 Objects and scope of the study… ………………………………………………11 Methodology…………………………………………………………………….11 New contributions of the thesis…………………………………………………12 Thesis structure………………………………………………………………….12 CHAPTER 1: GENERAL THEORY ON MIXED PROMOTION POLICY 13 1.1 Some definitions of mixed promotion, promotion policies and policy development 13 1.1.1 Definition, nature, role and model of mixed promotion 13 1.1.2 Definition of mixed promotion policies 16 1.1.3 Definition of mixed promotion policy development 17 1.2 Theoretical bases on mixed promotion policies 18 1.3 Content classification of mixed promotion policies 20 1.3.1 Determination of message recipients 20 1.3.2 Determination of promotion objectives 20 1.3.3 Determination of mixed promotion fund 21 1.3.4 Selection of message and media channels 22 1.3.5 Determination of mixed promotion……… 23 CHAPTER 2: CURRENT SITUATION OF MIXED PROMOTION FOR GEMTVT PRODUCTS OF THAI VAN TUONG ELECTROMECHANICAL JOINTSTOCK COMPANY 28 2.1 General introduction of Thai Van Tuong Electromechanical Construction Jointstock Company and GEM-TVT products 28 2.1.1 Thai Van Tuong Company Introduction 28 2.1.2 Introduction of GEM-TVT products 37 2.2 Current Situation of Mixed promotion policy in Thai Van Tuong Company 45 2.2.1 Personal sales policy 45 2.2.2 Marketing policy 47 2.3 Assessment 47 CHAPTER 3: SOME SOLUTIONS TO COMPLETE MIXED PROMOTION POLICY FOR GEM-TVT PRODUCTS OF THAI VAN TUONG ELECTROMECHANICAL JOINT-STOCK COMPANY 52 3.1 Market development objectives of Thai Van Tuong in the next years 20192024 …………………………………………………………………………… 52 3.2 Some solutions to complete the mixed promotion policy 55 3.2.1 Application of social networking tools Facebook 56 3.2.2 Application of e-commerce channels 59 3.2.3 Some other support solutions 61 CONCLUSION, LIMITATION AND IMPLICATION 64 REFERENCES 66 APPENDIX 68 LIST OF FIGURES FIGURE 2.1: The organization chart of Thai Van Tuong Company…… 32 FIGURE 2.2: Revenue of grounding products during 2016 - 2018 ……… 37 FIGURE 2.3: Marketing organization chart of Thai Van Tuong Company…39 FIGURE 2.4: The challenges that GEM-TVT must face with ……… 44 FIGURE 2.5: Indirect distribution system of Thai Van Tuong …………… 49 LIST OF TABLES TABLE 2.1: Business results at the period of 2016 - 2018………………….36 TABLE 2.2: Revenue of the key product in grounding area of Thai Van Tuong Company during 2016 - 2018…………………………………… 38 TABLE 2.3: Price list of GEM - TVT lines of Thai Van Tuong Company………… 42 TABLE 3.1: Result of days try-on Facebook advertisement……………… 61 INTRODUCTION Rationale Lightning protection is a matter of concern for many contractors, investors and households as well A good lightning protection system must be able to transfer the lightning into the ground in the fastest way, to minimize the possibility of lightning spread into the system, causing equipment damage The grounding system is an integral part of any lightning protection system It ensures the conduction of lightning impulse currents from lightning protection devices to the ground and dissipates the energy of these pulses The grounding plays an important role in lightning protection If the lightning protection device is not well grounded (ground resistance is too high), lightning strikes can cause great consequences To obtain the desired ground resistance, in developed countries, Ground Enhancement Material (GEM) is widely used And the existing GEM products in Vietnam are imported from the US, Korea, Thailand, Spain, China with high cost, in each product at different prices that GEM products are also classified in quality, effective duration of products GEM is the most advanced product of its kind in the traditional grounding method with properties for medium construction works or more But in the age of constant technological development, together with continuous competition among brands and increasingly high demands of the construction works, GEM is more attractive than the rest of grounding products in all aspects Therefore, it can be said that GEM will be the "hottest" products in the world of lightning protection devices, and the new trend of Vietnamese grounding market in near future On awareness of this, Thai Van Tuong Electromechanical Construction Joint Stock Company also studied and launched a new product range called GEM-TVT which has been decided to be strategic with the company, gradually replacing the traditional grounding products However, because GEM-TVT has just been at the beginning of its life cycle, the GEM market in Vietnam has only been at the period of prosperity, so in order to enter this potential market, it is needed to have an overall look on marketing environment for the company's GEM-TVT products, thereby making solutions to perfect marketing strategies, helping improve the business performance of this strategic product range That is why I decided to make this thesis: “Some solution to complete mixed promotion policy for GEM-TVT Products of Thai Van Tuong Electromechanical Construction joint stock Company" Study review - Currently, studies on mixed promotion policy for products (In 4P Marketing policy) has not been available, especially there is no research on Mixed promotion policy applying for GEM products in particular - During my reference, there have been some study theses on products such as “Making Marketing mix strategies for timber products in domestic market at Tan Phuoc Company Limited” - Nguyen Tan Su, University of Da Nang - 2012 This topic focused on the business marketing environment, from which applying 4P marketing for timber products In addition, the topic "Making Marketing mix strategies for powder coffee of Dak Ha coffee import and export company"-Truong Thi Ngoc Anh, University of Da Nang - 2011 carried out research and analysis of marketing efficiency, then applying marketing mix for product market development From the overview of the above research situation, I have found that there is no study topic on Mixed Promotion policy for GEM-TVT products of Thai Van Tuong Electromechanical Construction Joint Stock Company Therefore, my thesis will analyze in depth and provide marketing solutions in this area Study objectives - Research the theory of marketing concept, mixed promotion strategy and how to formulate a marketing strategy for a product - Learn about grounding products in general and chemicals to reduce soil resistance in particular, the market of reducing electricity resistance in Vietnam - Analysis of the status and assessment of Marketing strategy of GEM-TVT products in Thai Van Tuong Electromechanical Construction Joint Stock Company 10 impacts on the environment of the use of energy and resources, strictly comply with the provisions of the law Current law on environmental protection Timely deal with external impacts In response to the external subjective impacts of the environment, the Company must closely monitor the market situation, capture customers' thoughts and concerns as well as unfair competition from partners Competition in the same field, thereby reducing risks as well as maintaining the brand that has been built up 65 CONCLUSION, LIMITATION AND IMPLICATION Conclusion With increasing momentum in many areas of the economy, and in the current period, our country is expanding economic relations with countries around the world Therefore, marketing activities have been playing an important role in the field of business This role requires marketing to constantly develop, improve and become a vital issue of each company Through the process of understanding and analyzing, marketing activities at Thai Van Tuong Company in recent years have had certain successes However, in order to complete and unify marketing activities in accordance with the model, implement standards only according to the policy and strategies proposed and applied by the company, Thai Van Tuong still needs more time and many initials reasonable investment, much effort from the entire executive board as well as the staff Limitation Chapter of the dissertation clarifies the content of product marketing and the content of mixed promotion policy for products Based on the theoretical issues that have become clear in Chapter 1, Chapter of the thesis evaluated the status of mixed promotion activities for GEM-TVT products of Thai Van Tuong Company The dissertation explores, analyzes and evaluates the contents of each policy in the seven policy sections of mixed promotion Thereby, the thesis has pointed out which content has been implemented, and which content has not been implemented in practice The analysis results of Chapter are the basis for proposing solutions to complete mixed promotion activities for GEM-TVT products of Thai Van Tuong Company The dissertation analyzes the current status of mixed promotion activities for GEM-TVT products, clarifies the positive and limited aspects, thereby giving some general solutions in management and specific solutions to improve at Chapter Implication 66 In order to implement the proposed solutions effectively, the company needs a large investment in capital and human resources to help marketing activities achieve the goal At the same time, it is necessary to have a smooth and flexible combination between Advertising policy, public relations policy, promotion policy, personal sales policy, digital marketing promotion policy, etc With solutions above and available resources, together with the unanimous determination of the Board of Management, all staff, certainly will soon be improved and perfected in all aspects, contributing to increase the satisfaction of customers in using products, ensuring the company's survival and sustainable development in a competitive environment 67 REFERENCES Published reference Ngo Xuan Binh (2005), Basic Marketing, Statistical Publishing House, Hanoi Ngo Xuan Binh (2003), Marketing Management - Understanding and Application, Social Science Publishing House, Hanoi Truong Dinh Chien and Nguyen Van Thuong (1996), Marketing channel management, Statistical Publishing House, Hanoi Nguyen Thi Lien Diep (1993), Marketing Management, Ho Chi Minh University of Economics Publishing House Ho Chi Minh City Nguyen Duong and Anh Tuan (2005), The Art of Management - Marketing Modern Sales, Statistical Publishing House, Hanoi Tran Minh Dao (2006), Basic Marketing, National Economics University Publishing House, Hanoi Duong Huu Hanh (2007), Marketing Principles in global competition, Social Labor Publishing House, Hanoi Van Ky, Minh Duc, Mạnh Linh (2005), Winning Secrets in Marketing, Information and Culture Publishing House, Hanoi Pham Thi Thuy Linh (2008), Marketing Mix of KPMG Auditing Company, Master Degree of Commerce, University of Foreign Trade 10 Luu Van Nghiem (2001), Marketing in Service Business, Statistical Publishing House, Hanoi 11 Luu Van Nghiem (2008), Marketing Service, National Economics University Publishing House 12 Thu Thuy (2005), Effective Marketing Strategies, Social Labor Publishing House, Hanoi 68 13 Thai Van Tuong Electromechanical Construction Joint Stock Company (2010), The Prospectus of Thai Van Tuong Electromechanical Construction Joint Stock Company, Hanoi 14 Thai Van Tuong Electromechanical Construction Joint Stock Company, Annual Report, Hanoi, 2014 15 Chaston Ian (2000), Marketing - Customer Orientation, translated and edited by Vu Trong Hung and Phan Dinh Quyen, Dong Nai Publishing House, Ho Chi Minh City 16 William James (2006), Simple Marketing, Social Labor Publishing House, Hanoi 17 McCarthy, Jerome E (1964) Basic Marketing A Managerial Approach Homewood, IL: Irwin 18 Philip Kotler and Gary Armstrong (1995), Research instructions on Marketing Principles, translated and compiled by Bui Van Dong, Statistical Publishing House, Hanoi 19 Philip Kotler (1997), Marketing Management, translated and compiled by Vu Trong Hung, Statistical Publishing House, Hanoi 20 Philip Kotler (2011), Marketing 3.0, translated and compiled by Lam Dang Cam Thao, Ho Chi Minh General Publishing House 24.Philip Kotler & Gary Armstrong (2012), Principles of Marketing, Lai Hong Van translator and editor, Social Labor Publishing House Website 21 Website of Lazada http://www.lazada.vn 22 Website of Sendo http://www.sendo.vn 23 Website of Shopee http://www.shopee.vn 24 Website of Facebook: http://www.Facebook.com.vn 69 70 APPENDIX QUESTIONAIRES TO STUDY “SOME SOLUTIONS TO COMPLETE MIXED MIXED PROMOTION POLICY FOR GEM-TVT PRODUCTS OF THAI VAN TUONG ELECTROMECHANICAL CONSTRUCTION JOINT STOCK COMPANY” Dear Valued Customers, I am Le Duy Tuan Faculty: Hanoi School of Business and Management - Hanoi National University Currently I am studying the topic "Some solutions to improve the mixed mixed promotion policy for GEM-TVT products of Thai Van Tuong ElectroMechanical Construction Joint Stock Company" for the purpose of improving Mixed mixed promotion activities of Thai Van Tuong Electro-Mechanical Construction Joint Stock Company, not for business objective Please take your time to answer some questions below I commit that your reply information will be used for research purposes only and will be completely confidential Please provide some personal information Full name:……………………………………………… Position:…………………………………………… Company:…………………………………………… … Company Address:…………………………………… … Question 1: How often you access and find out information about GEMTVT products? Television and radio Newspapers and magazines Internet Catalog Expo 71 Question 2: Which communication channel you know about Thai Van Tuong Electro-Mechanical Construction Joint Stock Company? Television and radio Newspapers, magazines and catalogs PR programs, events, exhibition fairs Internet Direct offers from the company Question 3: Do you often pay attention to mixed promotion activities with GEM-TVT products of Thai Van Tuong Electro-Mechanical Construction Joint Stock Company? Yes Normal No Question 4: How you evaluate the advertisement programs for GEM-TVT products of Thai Van Tuong Electro-Mechanical Construction Joint Stock Company? Very attractive Attractive Normal Boring Very boring Question 5: Do you know any PR program of Thai Van Tuong ElectroMechanical Construction Joint Stock Company? Yes No Question 6: In your opinion, in the next time, which type of mixed mixed promotion our Company should focus on? Advertisement PR 72 Promotions Personal sales Digital Marketing Question 7: Please tell us your assessment on service quality from our current sales team Very effective Effective Normal Weak Very weak Question 8: Are you satisfied with the mixed mixed promotion programs of the Company? Very satisfied Satisfied Normal Not satisfied Very dissatisfied Question 9: Please make your contribution and ideas on mixed promotion programs for GEM-TVT products so that the Company can serve customers better? Sincerely thank! 73 Image 3.1.Facebook social networking site Image 3.2.Facebook Fanpage of GEMTVT Image 3.3: Detailed description depending on the region and the target audience of Facebook Advertisement 74 Image 3.4: Detailed description of Budget customization and the scope of Facebook Advertisement access Image 3.5: Detailed description of the budget and time to reach Facebook Advertisement 75 Image 3.6.Test results of Facebook Advertising campaign for Gem-TVT products in one day Image 3.7: Test results of Facebook Advertising campaign for Gem-TVT product in days 76 Image 3.8: Lazada e-commerce site Image 3.9: Shopee e-commerce site 77 Image 3.10: Sendo e-commerce site 78 Image 3.11: E-commerce website Tiki.vn Image 3.12: Advertisement tool Google Ads 79 ... situation of mixed promotion policy for GEM- TVT products of Thai Van Tuong Electromechanical Joint- stock Company - Chapter 3: Some solutions to complete mixed promotion policy for GEM- TVT products of. .. CHAPTER 3: SOME SOLUTIONS TO COMPLETE MIXED PROMOTION POLICY FOR GEM- TVT PRODUCTS OF THAI VAN TUONG ELECTROMECHANICAL JOINT- STOCK COMPANY 52 3.1 Market development objectives of Thai Van Tuong. .. DOANH - LÊ DUY TUẤN SOME SOLUTIONS TO COMPLETE MIXED PROMOTION POLICY FOR GEM- TVT PRODUCTS OF THAI VAN TUONG ELECTROMECHANICAL CONSTRUCTION JOINT STOCK COMPANY MỘT SỐ GIẢI PHÁP NHẰM