Building and developing brand at phu nhuan trading joint stock company (pnco)

MEIHO UNIVERSITY Graduate Institute of Business and Management MASTERS THESIS Building and Developing Brand at Phu Nhuan Trading Joint Stock Company (PNCo) In partial fulfillment of the requirements for the degree of Masters of Business Administration Advisor: Dr Ching-Wen Mo Co Advisor: Dr Pham Xuan Giang Graduate Student: Nhu Dinh Tuyen December, 2010 AKNOWLEDGEMENTS First of all, allow me to thank to University Board of the Ho Chi Minh City University of Industrial and Meiho University, Taiwan I would like to thank Dr Ching - Wen Mo, professor of Meiho University, Taiwan (MU Taiwan) Thanks to professors, teachers has participated in teaching and management, has helped me facilitate the completion of this training program I would like to thank Dr Pham Xuan Giang, Assistant Professor of the Ho Chi Minh City University of Industrial, has enthusiastically taught me the very valuable experience Thanks to teachers, lecturers in postgraduate training; the lecturers teachers of Faculty of Business Administration, and the EMBA2 classmates at the Ho Chi Minh City University of Industry Please also send sincere thanks to Professor, officers and administrative staff; Taiwan’s graduate students of EMBA course at Meiho University, Taiwan I Building and Developing Brand at Phu Nhuan Trading Joint Stock Company (PNCo) ABSTRACT Brands play an important role for businesses, for consumers and for the economy Brands are intangible assets, but have great value of the business There are many famous companies in the world not only by the scale of investment, technological innovation, which is due to the brand Such as coca-cola brand value in 2010 was 70.4 billion dollars; IBM brand is worth 64.7 billion dollars (Interbrand 2010) - Brands contributed significantly increase in turnover and profit - Brands to help businesses easily perform the contract, maintain traditional customers while attracting new customers, potential customers In fact, consumers are often drawn, conquered by goods brands, popular and stable For example, when it comes to beer consumers think of Heineken beer brand, Saigon etc These businesses have long known brands will create and reinforce the loyalty of large traditional customers, attracting more potential customers, even customers of rival firms’ competition Strong brands, sustainable help businesses to create its image, reduce costs for trade promotion activities, marketing activities; support businesses implement policy to penetrate and expand markets and distribution process favorable product distribution efficiency Brands delivers competitive advantage for businesses, helping business has conditions and defense against other competitors Brands create a brand consumers trust for quality, good prices Consumers know the origin of products and help consumers reduce costs, time to learn the product Brands help protect the interests of consumers State trademark protection situation will prevent counterfeit, fake consumer fraud Famous brand encourage consumer psychology, consumers are not only willing to pay for the product value but also pay for their satisfaction when buying products with famous brand In economies market, opening up and integration of the brand is a symbol of strength and national pride Comes to electronic goods that people are talking about Japan or wine is said to be thinking of France A country with many famous brands and with long tradition is a manifestation of the survival and development Thus, we can say that the brand is a great valuable asset of a business, because it can affect attitudes and behavior of consumers II The relationship between brands and customers can see as the conclusion Customer trust and loyalty in the brand and understand that the brand will benefit themselves through the use of products and services with reasonable prices, marketing programs, promotions and other support services Besides, brands also assumed an important role for the enterprise, which is to bring all staff aware and proud to work for companies with famous brands Keywords: Brand, Brand Consumers Trust, State Trademark Protection III Building and Developing Brand at Phu Nhuan Trading Joint Stock Company (PNCo) Contents AKNOWLEDGEMENTS I ABSTRACT II Contents IV Tables VII Figures VIII Chapter1 Introduction 1.1 Background and Motivation 1.1.1 Company profile PNCo 1.1.2 Status and development prospect of the Company compared to other enterprises in the same industry 1.1.3 Assessing the suitability of the Company’s development orientation toward the industry orientation, the State policies and general trends in the world .3 1.1.4 Technological level 1.1.5 The situation of research and development of new products 1.1.6 The situation of product quality inspection 1.1.7 Marketing activities .4 1.1.8 Company name, logo, trademark 1.1.9 Labor structure, regulations and policies related to employees 1.2 Research Objectives and Research Questions 1.2.1 Research objectives 1.2.2 Research questions 1.3 Research Scope and Limitations 1.3.1 Research scope 1.3.2 Limitations Chapter Theoretical Basis of Brand Building 2.1 The Concept of Branding 2.1.1 The definitions of branding .1 2.1.2 Distinguishing the brand and trademark 2.2 Process of Building and Developing Brand .2 IV 2.2.1 Develop overall strategy 2.2.2 Identify the brand elements .7 2.2.3 Brand protection 11 2.2.4 Building media strategy .11 2.2.5 Measurement and correction branding 13 2.3 Strategic Branding 14 2.3.1 Competitive strategy 14 2.3.2 Quality in competitive trends and brand building 16 Chapter Research Methods .20 3.1 Research Process 20 3.2 Research Methods 22 3.2.1 Research on qualitative 22 3.2.2 Research on quantitative 23 3.3 Questionnaire Design .23 3.4 The Accuracy of Data 24 3.5 The Reliability of Data 24 Chapter Analysis and the Results 26 4.1 General Information Objects Through a Questionnaire Survey 26 4.1.1 Results of the gender .26 4.1.2 Results of the age .26 4.1.3 Results of the education level 27 4.1.4 Results of the career 28 4.1.5 Results of the working time .28 4.2 Opinion Results about the Determinant Groups of Building and Developing Brand Strategy of PNCo Company 29 4.2.1 Results of evaluation of vision and mission 29 4.2.2 Results of Assessment of Brand Positioning 30 4.2.3 Results of the assessment of elements of brand 31 4.2.4 Results of assessment of character and essence of the brand 32 4.2.5 Results of the assessment of communication strategy .33 4.2.6 Results of the assessment of synchronization strategy building and developing brand of PNCo 34 Chapter Conclusions and solutions .35 5.1 Conclusions 35 V 5.1.1 The advantages 35 5.1.2 The limitations need to change 36 5.2 Solutions 37 Reference 39 APPENDIX A - English Questionnaire .42 APPENDIX B – Vietnamese Questionnaire 46 VI Tables Table 1-1 Labor Classifications Table 2-1 Can See the Difference between the Two Terms Through the Following Chart Table 2-2 Comparison of Brand Model Table 2-3 Criteria for Measuring Brand Strength by Interbrand 14 Table 3-1 Reliability of Survey Data 24 Table 4-1 Results of the Gender 26 Table 4-2 Results of the Age .26 Table 4-3 Results of the Education Level 27 Table 4-4 Results of the Career .28 Table 4-5 Results of the Working Time 28 Table 4-6 Results of Vision and Mission 29 Table 4-7 Results of Assessment of Brand Positioning 30 Table 4-8 Results of the Assessment of Elements of Brand .31 Table 4-9 Results of the Evaluation of Character and Essence of Brand 32 Table 4-10 Results of the Assessment on Communication Strategy .33 Table 4-11 Results of the Assessment of Synchronization Strategy Building and Developing Brand of PNCo 34 VII Chapter Conclusions and solutions 5.1 Conclusions Through the analysis in Chapter shows PNCo had a process of building and developing brands relatively well in all the group elements Through analysis, PNCo has developed a strategy for long-term development that builds brand strategy relevant in the process of building and developing business However, in the context of the current competition, PNCo still must constantly build and develop our brands to be able to compete with the current market From the research results, PNCo shows some strengths and weaknesses as follows: 5.1.1 The advantages PNCo have a long term view in planning business strategy in the period 2010-2015 A specific segment of services, import and export, investment is growing at a rate of revenue growth and services in the period 2010-2015 from 10% to 15% Besides, PNCo have built for us a name easy to remember, easy to pronounce and make the customer remember the products and services of PNCo immediately once using the company's products Company logo also shows that it’s strong and reliable Along with those strengths, PNCo also build for us a competitive team of human resources through recruitment, training and ongoing training to staff of the company's human resources to meet rapid development of the company PNCo has also constantly building our image by improving the company's Website To enhance its image advertising with promotional activities, advertising truthfully our image with customers, create trust with customers when customers use the service and products of company In two years, the company has taken a number of new products and services to consumers On basic, products of PNCo made customer satisfaction and confidence to use the service and the product of PNCo 35 5.1.2 The limitations need to change Besides the strategies that PNCo is having good move as analyzed above, PNCo also have the problem need to continue building and developing our brands Due to the rapid development and expand market in the services sector, PNCo also continues to complete the construction and development of our brand new elements in achieving above average such as brand positioning group, character and essence of the brand group and communication strategy group Brand positioning group: through surveys, this group just only achieve average rate, but the market is very aggressive competitive so requiring PNCo must analysis the reason to find out the problem of inadequacies in the management to improve quality products, constantly train the employees to improve professionalism, and product cost reduction to customer satisfaction In addition, building sales service good will make customer loyalty to product and service of brands of PNCo Brand elements group: apart from the elements of PNCo have strengths, in this group, the packaging products of company are weak cause PNCo not interested in research, design and manufacture of packaging products to suit the customer so producs and services of PNCo will reduce in competitiveness Brand character and essence group: this group, PNCo also not yet outstanding but still have to build our own personality by creating products and services of us with differences, improved quality and create confidence for customers when using products and services of PNCo then customer will be satisfaction Communication strategy group: this group of PNCo still weak so enhance internal communication activities such as building cultural open training courses in internal branding for the company staff, sponsors sport even, charity work, disaster relief etc Then PNCo also promoting and advertising our brands in newspapers and television etc especially building websites for accessibility and rich content cause this media very effective in the following point: closing the gap, global marketing, cost and efficiency increases so the brand image of PNCo widely known 36 5.2 Solutions To become a company with strong brands, sustainability and having different products, highly competitive to serve customers, PNCo need: - Having a plan to build a general brand strategy and long-term - Building human resources have highly competitive - The products must be diverse and different - Manage quality systems of products and services well - Communication strategy must be strong and effective (1) PNCo brand strategy to unify the goals at all levels throughout the company, creating consistency in leadership, employee motivation, orientation for use of resources, building measure for the brand development, facilitate development goals and unite targets When we have a clear vision brand, company will focus all our resources and a long-term orientation, from the recruitment and training of human resources to build a combination of strategies consistent with the general building and developing brands (2) Human resources are the core of the company; the factors make a difference and bring a competitive advantage for company On the other side, human resource activities are also needed to combine forces to create capacity to ensure the success of organizational goals Therefore, human resource of PNCo frequently are recruited, trained to become human resources team have high professional so meet the demands of development and improve capacity competition of PNCo (3) Now, PNCo have many segment of business activities Many companies have developed this strategy However, PNCo also need to study the development strategy of products and services so that the product or service has unique characteristics, customer appreciation and respect than the product of competitors Value added by the uniqueness of the product allows PNCo set higher prices without fear of being ostracized customers (4) Quality management according to international standards referring to promoting the role of leadership, strategic planning, resource management, mobilizing the participation of all members, management processes, measurement and analysis continuous improvement The goal of management is to achieve quality growth of the organization base on the performance - quality - efficiency 37 (5) Building communication strategies: communication strategy of PNCo is weak PNCo so enhance internal communication activities such as cultural construction, open training courses in internal branding for the company staff, support sporting events, charity, disaster relief etc the PNCo also promoting and advertising our brands in newspapers and television etc especially building websites for accessibility and rich content cause this media is very effective show in the point: closing the gap, global marketing, cost and efficiency increased so the brand image of PNCo widely known 38 Reference I English Aaker, D (1991), “Managing Brand Equity: Capitalizing on the value of a Brand name“, New York: Free Press Aaker, D, (1996), “Building Strong Brands“, New York: Free Press Al, R and Jack, T (1982), “Positioning: the Battle for your mind”, Warner Books Ambler, T S., (1996), “Brand Developments“, New Product Development: Toward a Process Model of Extension Cronbach, L J (1951), “Coefficient alpha and the internal structure of tests”, Psychometrika, 16, 297-334 F J., Babin, B., Money, A.H., & Samuel, P (2003) “Essentials of Business Research Methods”, John Wiley and Sons, Leyh Publishing, LLC, USA Golafshani, N (2003), “Understanding Reliability and Validity in Qualitative Hair”, The Qualitative Report, 8, 4, 597-607 J G Hutton (1999),” The definition, dimensions, and domain of public relations”, Public Relations Review, 25, 2, 199-214 L De Chernatony, (2001), “A Model for Strategically Building Brands”, The Journal of Brand Management, 9, 1, 32-44 Turco, D M (1993),” Event sponsorship: effects on consumer brand loyalty and consumption”, Sport Marketing Quarterly, 3, 3, 35-37 II Vietnamese Do luong va hieu chinh thuong hieu [Measurement and correction brand] Retrieved November 15, 2010, from http://weblink.vn/th/article_d/c159-352/do-luong-nhanhieu -bay-yeu-to-cua-mot-nhan-hieu-manh Doan,Van - Kim Ngoc Dat compiler (2010) Quan tri chien luoc [Strategic Management] Nha Xuat Ban Thong Ke Published Doan Gia Dung Ban ve su tich hop chien luoc nguon nhan luc voi chien luoc cong ty 39 [Discusses the integrated human resource strategy with company strategy] Retrieved November 5, 2010, from http://opac.lrc.ctu.edu.vn/pdoc/23/26tichhop.pdf Duong, Huu Hanh.(2005) Quan tri tai san thuong hieu [Administrative Brand Equity] Nha Xuat Ban Thong Ke Published Hoang Xuan Thanh (2003) Cac to thuong hieu [The brand elements] Retrieved November 5, 2010, from http://www.ageless.com.vn/Buoc%201.htm Jack Trout and Steve Rivkin (2000) Khac biet hay la chet [Differences or Die], Pham Thao Nguyen - Duong Bao Long compiler Nha Xuat Ban Tre Published James R Gregory.(2004) Xay dung thuong hieu manh va cong [Building strong brands and successful] Nha Xuat Ban Thong Ke Published Michael, E Forter (1980) Chien luoc canh tranh [Competitive strategy] Duong ,Dung compiler Competitive strategy theory of Michael, E Forter Nha Xuat Ban Tong Hop Thanh Pho Ho Chi Minh Published Ngo Van Thanh (2009) Thuong hieu va Logo [Trademarks and Logos] Nha Xuat Ban Lao Dong Published Ngoc Quang (2005) Tam nhin thuong hieu [Brand Vision] Retrieved November 10, 2010, from http://www.lantabrand.com/cat2news548.html Ngoc Quang (2005) Su mang thuong hieu [Brand Mission] Retrieved November 10, 2010, from http://www.lantabrand.com/cat2news548.html Ngoc Quang (2005) Chien luoc thuong hieu [Brand Strategy] Retrieved November 15, 2010, from: http://www.lantabrand.com/catnews2555.html Nguyen Quoc Thinh, Nguyen Thanh Trung (2009) Thuong hieu voi nha quan ly [Brand with Managers] Nha Xuat Ban Lao Dong – Xa Hoi Published Nguyen Thanh Tung (2010) Quan ly du an danh cho lanh dao [Project Management for Leaders] Retrieved January 15, 2011, from http://benthanhgroup.com/zone/75/news/464-tai-lieu-quan-ly-du-an-danh-cholanh-dao-tong-cong-ty-ben-thanh.aspx Nguyen Trong Tan (2004) Nam buoc co ban xay dung thuong hieu [Five basic steps to build a brand] Retrieved November 20, 2010, from http://www.lantabrand.com/cat2news90.html 40 Nguyen Van Dung (2009) Xay dung thuong hieu manh [Building strong brands] Nha Xuat Ban Giao Thong Van Tai Published Patricia F Nicolino (2001) Quan tri thuong hieu [Brand management] Nha Xuat Ban Lao Dong - Xa Hoi Published Paul Temporal.(2007) Quan tri thuong hieu cao cap [Senior brand manager] Nha Xuat Ban Tre Published Pham, Luat Su khac giua thuong hieu va nhan hieu [Difference between brand and trademark] Retrieved November 5, 2010, from http://www.luatgiapham.com/tainguyen/s-hu-tri-tu/317-phan-bit-s-khac-nhau-gia-thng-hiu-va-nhan-hiu-.html Philip Kotler.(2009) Thau hieu tiep thi tu A-Z [Marketing insights from A-Z] Nha Xuat Ban Tre Published Phu Nhuan Trading Joint Stock Company (2010) Ban cao bach [Statement] PNCo Published Tran Nha (2004) Dinh vi thuong hieu [Brand Positioning] Retrieved November 5, 2010, from http://www.lantabrand.com/cat5news2546.html Tran Quoc Tuan Quan ly chat luong - Cot loi cua su phat trien ben vung [Quality management - the core of sustainable development] Retrieved November 5, 2010, from http://portal.tcvn.vn/default.asp?action=article&ID=2751 10 Thuong hieu hang dau [Top 10 brands] Retrieved November 25, 2010, from http://www.interbrand.com/en/best-global-brands/Best-Global-Brands-2010.aspx 41 APPENDIX A - English Questionnaire MEIHO INSTITUTE OF TECHNOLOGY GRADUATE INSTITUTE OF BUSINESS AND MANAGEMENT 23, Pingkuang Road, Neipu, Pingtung 912, Taiwan R.O.C Building and developing brand at Phu Nhuan Trading Joint Stock Company (PNCo) QUESTIONNAIRES We're doing the research strategy “building and developing brand of Phu Nhuan Trading Joint Stock Company (PNCo).” To study the accuracy, achieve better results; please tell us your opinions by marking (X) on the questions below Part 1: Personal Information Gender: Male F Female F From 18 to 25 years old F From 25 to 35 years old F From 35 to 45 years old F Over 45 years old F Not yet graduated F Graduated F Intermediate F College – University F Post graduate F Age: Education: 42 Current job: Management F Support F Staff directly (business, manufacturing, service, and accounting) F Senior work: Under years old F From to years old F From to 10 years old F From 10 to 15 years old F Over 15 years old F Part 2: would you please tell us the answer on the comments below, with corresponding levels agree as follows: “1” = Totally disagree “2” = Disagree “3” = No Idea “4” = Agree “5” = Totally agree Number CONTENT      PNCo company will become the leading multi-sector      I Vision, mission of the company PNCo will have strong brands in the future 5 according to international standards      PNCo continuous research and development to be      PNCo is the number one choice of customers better one Coming to PNCo will all win together 43      II Positioning Prices of goods and services of PNCo is highly      competitive      Products and services of PNCo diverse, rich and      Team of employees in PNCo is very professional attractive Products abounds in PNCo to satisfy customers      10 Services abounds in PNCo to satisfy customers      11 Sales service of PNCo satisfy customer needs      III Brand elements The name of PNCo easy to remember, easy to      12 13 pronounce Company logo shown sustainability, stability,      impressive 14 Strong culture of humanism PNCo      15 Employees of PNco are elegant, friendly      Packaging products and services of PNCo demonstrate      16 innovative, rich and attractive IV Character and essence of the brand 17 PNCo has created typical character 18      Customer satisfaction when using products or services      from PNCo 19 PNCo has created trust with customers V Communication Strategy 20 Website of PNCo is easy to access and rich content 44           21 22 The content of the advertising of PNCo is honest and      attractive Position and reputation of PNCo is very high when      sponsor sports events, cultural, charity, contest etc Trademarks PNCo customers love and remember when 23 implementing social responsibility as: philanthropy,      charity, disaster relief, environmental protection etc 24 VI 25 26 27 28 29           Media of PNCo: honest, attractive for customers to      PNCo staff is young, flexible, confident, cautious Synchronization strategy building and developing brand of PNCo Develop human resources to enhance competitiveness confidence Products and services of PNCo always towards the      customer PNCo research new product line to match customer      needs Create benefits for customers when using products or  services of PNCo Thank you for your help! 45     APPENDIX B – Vietnamese Questionnaire ĐẠI HỌC MỸ HÒA VIỆN NGHIÊN CỨU QUẢN LÝ VÀ KINH DOANH #23 Đường Bình Quang, Nội Phố, Bình Đơng 912, Đài Loan Xây dựng phát triển thương hiệu Công ty Cổ phần Thương mại Phú Nhuận (PNCo) CÔNG TY CỔ PHẦN THƯƠNG MẠI PHÚ NHUẬN BẢNG CÂU HỎI KHẢO SÁT Chúng thực việc nghiên cứu chiến lược “xây dựng phát triển thương hiệu Công ty Cổ phần Thương mại Phú nhuận ( PNCo )” Để việc nghiên cứu đạt kết tốt, xin Anh/Chị vui lòng cho biết ý kiến việc đánh dấu (X) vào câu hỏi Phần I: Thông tin cá nhân Giới tính: □ Nữ □ Từ 18 đến 25 tuổi □ Từ 25 đến 35 □ Từ 35 đến 45 tuổi □ Từ 45 tưổi trở lên □ Chưa tốt nghiệp PTTH □ Đã tốt nghiệp PTTH □ Trung cấp □ Cao đẳng- Đại học □ Trên đại học □ Nam Độ tuổi: Trình độ học vấn: 46 Công việc □ Quản lý □ Phụ trợ □ Nhân viên trực tiếp (kinh doanh, sản xuất, kế toán, phục vụ dịch vụ) Thâm niên công tác Dưới năm □ Từ năm đến năm □ Trên năm đến 10 năm □ Trên 10 năm đến 15 năm □ Trên 15 năm □ Phần II: Anh/ chị vui lòng cho biết câu trả lời ý kiến đây, với mức độ đồng ý tương ứng sau: “1”= Hoàn tồn khơng đồng ý “2”= Khơng đồng ý “3”= Khơng có ý kiến “4”= Đồng ý “5”= Hồn tồn đồng ý TT Nội dung câu hỏi I Tầm nhìn, sứ mạng Cơng ty PNCo có thương hiệu mạnh tương lai PNCo trở thành Công ty hàng đầu hoạt động đa ngành theo tiêu chuẩn quốc tế PNCo lựa chọn số khách hàng PNCo không ngừng sáng tạo, vươn lên Đến với PNCo tất thắng II Định vị Giá hàng hóa, dịch vụ PNCo có tính cạnh tranh cao Đội ngũ người lao động PNCo chuyên nghiệp Sản phẩm dịch vụ PNCo đa dạng, phong phú hấp 47 dẫn PNCo có nhiều sản phẩm khác biệt làm hài lòng khách hàng 10 PNCo có nhiều dịch vụ khác biệt làm thỏa mãn khách hàng 11 Dịch vụ hậu PNCo thỏa mãn nhu cầu khách hàng III Các yếu tố thương hiệu 12 Tên gọi PNCo dễ nhớ, dễ phát âm 13 Logo Cơng ty thể tính bền vững, ổn định, ấn tượng 14 Văn hóa PNCo đậm tính nhân văn 15 Nhân viên PNco lịch Lãm, dễ mến 16 Bao bì sản phẩm, dịch vụ PNCo thể sáng tạo, tinh tế, hấp dẫn IV Tính cách tinh chất thương hiệu 17 PNCo tạo tính cách riêng 18 Khách hàng thỏa mãn sử sản phẩm, dịch vụ từ PNCo 19 PNCo tạo niềm tin khách hàng V Chiến lược truyền thông 20 Website PNCo dễ truy cập có nội dung phong phú 21 Nội dung quảng cáo PNCo trung thực, hấp dẫn 22 Vị uy tín PNCo cao tài trợ kiện thể thao, văn hóa, hội thi etc 23 Thương hiệu PNCo khách hàng yêu mến nhớ đến thực trách nhiệm xã hội nhự: làm từ thiện, cứu trợ thiên tai, bảo vệ môi trường etc 24 Nhân viên PNCo trẻ trung, động , tự tin, cẩn trọng 48 VI Chiến lược xây dựng phát triển thương hiệu PNCo 25 Xây dựng nguồn nhân lực nâng cao tính cạnh tranh 26 Truyền thơng PNCo: trung thực, hấp dẫn tạo niềm tin cho khách hàng 27 Sản phẩm, dịch vụ PNCo hướng khách hàng 28 PNCo tạo sản phẩm khác biệt phù hợp với khách hàng 29 Tạo nhiều lợi ích cho khách hàng sử dụng sản phẩm, dịch vụ PNCo Xin chân thành cám ơn quí Anh, Chị 49 ... basis of theory building and developing brand as a mission vision, brand positioning, brand elements, nature and characteristic of the brand, brand communication and brand building strategies simultaneously... officers and administrative staff; Taiwan’s graduate students of EMBA course at Meiho University, Taiwan I Building and Developing Brand at Phu Nhuan Trading Joint Stock Company (PNCo) ABSTRACT Brands... with famous brands Keywords: Brand, Brand Consumers Trust, State Trademark Protection III Building and Developing Brand at Phu Nhuan Trading Joint Stock Company (PNCo) Contents AKNOWLEDGEMENTS