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This report presents how we apply the knowledge of relevant integrated marketing communications. We decided to choose Dien May Xanh (DMX) the electronic retail system for this assignment. The report includes executive summary with the company’s background, using models like SWOT, PEST to analyses the current situation of this business and the relating environment around it. The IMC will be carried out through out 2021 with strategies, budget, timeline and objectives for each quarter.
NOVEMBER 11, 2020 | PROJECT MIDTERM IINTEGRATED MARKETING COMMUNICATIONS LECTURER: NGUYEN HONG UYEN Group NÓNG QUÁ!! DIEN MAY XANH PROBLEM STATEMENTS: DMX’s television commercial THE PRODUCTS Refrigeration electronics, household appliances, technology products BIGGEST COMPETITORS • Dien may cho lon • Nguyen Kim • Media Mart Accounting for 40% market share with 1226 supermarkets covering 63 provinces TARGET AUDIENCE People who are at the age of 25 – 55 and still in the working age with steady income higher than million per month have attracted millions of views BUSINESS OBJECTIVES from customers and created huge waves for DMX’s communication channel However, some of its communication campaign are Achieve 152 trillion, increase by 5% than last year still not diversified Maintain market share by 40% of household appliances retail industry in Vietnam Therefore, this media campaign will be carried out throughout in 2021 with quarters and different campaigns The main tool used is usually Increase profit by up to 30% Sales promotion with the Increase the consumption by around 5% support of many other tools such as Advertising, Digital Marketing, Social Media and Personal Selling For the MARKETING OBJECTIVES purpose of multi-channel communication, increasing coverage and increasing revenue through this promotion, the above tools will optimize the purchase conversion rate for the business • Consumption: Increases revenue by increasing consumption through Marketing strategy • Penetration: Penetrates deeper into the lowerincome market • Brand loyalty: Increase retention rate in old customers and first step building trust for new customers through the quality of the products and our customer services Created for free by https://foxyutils.com Percentage-of-sales budgeting • In 2021 year's target, increase 5% of sales COMMUNICATION OBJECTIVES compared to 2019 • Brand awareness IMC cost (2019) is 0.035% of revenue 2019 REVENUE (VND) Become top of mind in customers’ awareness in household appliances retail industry in Vietnam • 1st Quarter: ~ 36.000 billion • 2nd Quarter: ~ 33.000 billion consistent and meaningful message during the • 3rd Quarter: ~ 34.000 billion campaign • 4th Quarter: ~ 35.000 billion • Total : 138.000 billion Establish a positive brand image through a Encourage purchase behavior: Launch EXPECTED REVENUE 2021 (VND) attractive discount programs and diversify Increased by 5% → 152.000 products with affordable prices to stimulate billion customers to buy high-involvement products 2019 BUDGET (VND) • 1st Quarter: ~ 20 billion Retention rate: Increase retention rate to • 2nd Quarter: ~ billion 50% • 3rd Quarter: ~ 11 billion • 4th Quarter: ~ 12 billion • Total budget: 69 billion EXPECTED 2021 BUDGET (VND) • 1st • 2nd Quarter: 24 billion • 3rd Quarter: 12 billion • 4th Quarter: 10 billion • Total budget: 61 billion Quarter: 15 billion Key attributes: The TVC campaign will bring consumers the feelings of functional benefits (such as cheap price, high quality, good service) and emotional benefits (such as funny, family love, love for the country and the nation) Created for free by https://foxyutils.com OBJECTIVES MAIN TOOLS T.A SUMMARY CONTENT KEY MESSAGE Q.1 Increase revenue Brand awareness Brand loyalty Sales promotion Age: 30 – 55 Income: > million Launching sales promotion campaign with specific incentives policy Using others tools to support: Digital marketing, Advertising and Direct marketing Xuân an lành, Tết nhẹ gánh Q.2 Brand awareness Increase revenue Brand loyalty Advertising Age: 30 – 55 Income: > million Launching advertising campaign with air conditioning products Using others tools to support: Digital marketing, Sales promotion and Direct marketing Ưu đãi ngập tràn, xua tan nắng nóng Q.3 Increase revenue Brand awareness Brand loyalty Sales promotion Age: 25 – 35 Income: > million Launching sales promotion campaign with specific incentives policy Using others tools to support: Digital marketing, Social Media, Advertising and Personal selling Lễ xa nhà, quà cho ba má Q.4 Increase revenue Brand awareness Brand loyalty Sales promotion Age: 30 – 55 Income: > million Launching sales promotion campaign with specific incentives policy Using others tools to support: Social media, Advertising and Personal selling Mừng giáng sinh, giảm linh đình Created for free by https://foxyutils.com MEMBER OF GROUP Created for free by https://foxyutils.com TABLE OF CONTENT TABLE OF CONTENT ABSTRACT CONTENT EXECUTIVE SUMMARY 1.1 Dien May Xanh background 1.2 Vision, Mission, Core Values 1.3 Current Business Situation (2019) SITUATION AND MARKETING ANALYSIS 2.1 Macro Environment 2.2 Micro Environment 2.3 SWOT IMC STRATEGY AND ACTION PLAN 3.1 Marketing goals and objectives 3.2 IMC Plan 3.2.1 Strategy IMC of 2021 3.2.2 Timeline 3.2.3 Budget 3.2.4 Campaign 11 3.3 Evaluation 19 CONCLUSION 20 REFERENCES 21 Created for free by https://foxyutils.com ABSTRACT This report presents how we apply the knowledge of relevant integrated marketing communications We decided to choose Dien May Xanh (DMX) - the electronic retail system for this assignment The report includes executive summary with the company’s background, using models like SWOT, PEST to analyses the current situation of this business and the relating environment around it The IMC will be carried out through out 2021 with strategies, budget, timeline and objectives for each quarter Created for free by https://foxyutils.com CONTENT EXECUTIVE SUMMARY 1.1 Dien May Xanh background - The biggest electronic products retail brand of MWG, officially established in 2010 - In 06/2016, DMX completed its coverage in 63 cities and provinces nationwide with 1226 supermarkets nationwide and more than 10.000 employees 1.2 Vision, mission, core values ❖ Vision - MWG is the most powerful multidisciplinary retail group with the No.1 position in the e-commerce industry - Main targets in the period 2020-2002: Continue to increase market share, consolidate the No position with 50% of electronics market share (end of 2022) ❖ Mission - Continuously improve for the most enjoyable and satisfying customer experiences based on a customer-centric culture and Integrity - Bring prosperous lives for employees, high returns for long-term investors and contribute to the welfare of the community Created for free by https://foxyutils.com ❖ Core values - Be dedicated to customers - Follow commitments and take responsibility - Love and support your teammates - Be honest about money and relationship - Be enthusiastic at work 1.3 Current business situation (2019) - Total revenue of MWG: 102.174 billion VND - Profit after tax MWG: 3.836 billion VND In terms of revenue structure by chain, DMX accounts for 57% in total company’s revenue MWG continuously increased its market share and widened the gap with other electronics retailers in the market Created for free by https://foxyutils.com SITUATION AND MARKET ANALYSIS 2.1 Macro Environment (PEST Analysis) 2.2 Micro Environment ❖ Company - Business is still positive despite of Covid-19, CEO of DMX expects this "piece of cake" to increase by 45% by the end of 2020, 50% by the end of 2021 and then become market leader by 70% - Some strategies will be implemented, such as: ● Continuously promote "quality" for stores This helps improve sales up to 30%, creates a foundation for displaying more products ● Actively prepare for the launch of the model "DMX super-mini" to capture the rural market with 1,350 stores Created for free by https://foxyutils.com IMC STRATEGY AND ACTION PLAN 3.1 Marketing goals and objectives ❖ Business objective: - In 2021, DMX wants to get 152 trillion, increase by 5% than last year - Maintain market share by 40% of household appliances retail industry in Vietnam - Increase profit by up to 30% ❖ Marketing objectives - Consumption: Increases consumption of electrical products through the quality of products and customer services - Penetration: DMX penetrates deeper into the lower-income market by diversifying products and launch attractive discount programs with affordable prices for different target customers - Brand loyalty: Increased retention rate and preference of customers on DMX ❖ Communication Objectives - Brand awareness Become top of mind in customers’ awareness in household appliances retail industry in Vietnam Establish a positive brand image through a consistent and meaningful message during the campaign - Encourage purchase behavior: Launch attractive discount programs and diversify products with affordable prices to stimulate customers to buy high-involvement products - Retention rate: Increase retention rate to 50% - Key attributes: The TVC campaign will bring consumers the feelings of functional benefits (such as cheap price, high quality, good service) and emotional benefits (such as funny, family love, love for the country and the nation) Created for free by https://foxyutils.com 3.2 IMC Plan 3.2.1 STRATEGY IMC OF 2021 According to analysis from part 2, the overall strategy of 2021 is to use Sale Promotion as the main tool and other tools to serve two purposes - Increase sales Get back your original revenue to appease shareholders - Decrease number of inventories The four chosen campaign will be carried out in four different period that are the biggest holiday occasions of Vietnamese people People tend to have more demand on shopping In order to stimulate their purchasing motivation, DMX will launch mostly Sales promotion campaign with attractive discount prices to sever their demands 3.2.2 TIMELINE 3.2.3 BUDGET By method: Percentage-of-sales budgeting - In 2020 target, increase 5% of sales compared to 2019 => Revenue (2021) = 152 trillion (VND) - IMC cost (2019) is 0.035% of revenue => Therefore, proposing this year (2021), IMC cost is 0.04% of revenue = 61 billion (VND) Created for free by https://foxyutils.com Specifically allocated for each Campaign as follows: 10 Created for free by https://foxyutils.com 3.2.4 CAMPAIGN ❖ Quarter I – Tet Holiday Campaign Content Main tool Tools Other tools Detail ● + Special prices: Discount 20% for all products ● + Attractive gifts accompanying the products Sales promotion ● + 0% Installment plan ● + Free shipping Create a 30s TVC with the main image of blue people representing DMX with attractive discount products in Digital marketing Tet Holiday The aim is informing customers about this discount program to stimulate shopping demands for Tet so that they are motivated to buy more ● Television channel: VTV3 and HTV7 ● Print media: - Magazines and newspapers to inform our discount products in the Tet Holiday period Advertising ▪ Magazines: Tiếp thị & Gia đình ▪ Newspapers: Lao động, Thanh niên - POSM: banners, flyers, standee to decorate discount programs at available stores Direct marketing Send promotional messages to customers via SMS, email Use push strategy ● ● ● ● Increase 81% in total 1st quarter revenue Create 20.000.000 reaches to our target audience Attract 10.000.000 customers to buy the products Increase to 50% conversion rate buying products online and offline ● Increase retention rate of customers in the long term Increase revenue: Increase Strategy 12.000 billion VND Brand awareness: Be the & Objectives top of mind of customers Brand loyalty: Create retention of customers buying products of ĐMX Scope: Nationwide Target They are in the working age, in the middle class with Age: 30 – 55 audience income varying from – 15 million per month Income: > million VND Truth: According to Facebook & YouGov statistics, 70% people believe that Tet is the time to hunt for the best incentive programs So the demand for buying household products, electrical products of Vietnamese people increases significantly in the Tet Holiday With the desire to redecorate their houses with new items, it will bring best Insight wishes to family in the new year and show their financial ability to people around them Tension: People are afraid of spending too much money on Tet Holiday but they still have to buy because of the demand using these products during this period and showing their finance resources to their relatives, friends,… 11 Created for free by https://foxyutils.com Motivation: Looking forward to buying their needed products with an attractive and affordable price Big Idea Dienmayxanh will provide the most attractive and affordable prices for customers on their needed products that contribute a meaningful Tet Holiday to their family without being worried about financial problems Key message XUÂN AN LÀNH, TẾT NHẸ GÁNH Timeline Budget ● ● ● ● ● ● ● ● ● Sales promotion: 13/01/2021 – 10/02/2021 Digital marketing: 13/01/2021 – 05/02/2021 Advertising: 13/01/2021 – 05/02/2021 Direct marketing: 13/01/2021 – 10/02/2021 Digital marketing: 3.500.000.000 Advertising: 3.700.000.000 Sales promotion: 5.500.000.000 Direct marketing: 2.300.000.000 Total budget: 15.000.000.000 Evaluation 12 Created for free by https://foxyutils.com ❖ Quarter II – Summer campaign Content Main tool Tools Advertising Digital Marketing ● Create a 30s TVC advertising air conditioner with the main image of blue people representing DMX bringing an air-conditioner to a standard family (including people) Sales promotion ● + Special prices: Specially apply 10% discount for air conditioning products in 30/4 and 1/5 ● + 0% Installment plan ● + Free shipping Other tools Strategy & Objectives Target audience Insight Detail ● Television channel: VTV3 and HTV7 ● Print media: - Magazines and newspapers to inform our discount products in this period ▪ Magazines: Tiếp thị & Gia đình ▪ Newspapers: Lao động, Thanh niên ● POSM: banners, flyers, standee to decorate discount programs at available stores Direct marketing Send promotional messages to customers via SMS, email Strategy: Use pull strategy with an aim of creating an ongoing ● Create 10.000.000 reaches our target audience relationship with the ĐMX ● Attract 5.000.000 customers to buy the products Brand awareness: Be the ● Increase to 50% conversion rate buying products top of mind of customers on online and offline air conditioner products ● Increase retention rate of customers in the long Brand loyalty: Create term retention of customers ● Increase 75% in total 2nd quarter revenue buying products of ĐMX Increase revenue: Increase 8.000 billion VND Scope: Nationwide They are in the working age who are in the middle class Age: 30 – 55 with income varying from – 15 million per month Income: > million VND Truth: According to the statement in 2017 of Vietnam's Ministry of Industry and Trade, in summer, the demand for electrical products and household appliances, especially air conditioners products had increased significantly Tension: Hard weather makes Vietnamese people more exhausted after the whole day working, especially after the Tet Holiday period Motivation: People want to rest comfortably after a hard-working day under hard weather 13 Created for free by https://foxyutils.com Big Idea DMX will provide customers with the most modern and convenient air conditioning products to provide them with a fresh atmosphere right in their house; help people eliminate fatigue and have a good night's sleep after a whole day working Key message ƯU ĐÃI NGẬP TRÀN – XUA TAN NẮNG NÓNG Timeline Budget ● ● ● ● ● ● ● ● ● Digital marketing: 15/04/2021 – 01/05/2021 Advertising: 15/04/2021 – 01/05/2021 Sales promotion: 30/04/2021 – 01/05/2021 Direct marketing: 25/04/2021 – 01/05/2021 Digital marketing: 3.300.000 Advertising: 10.200.000 Sales promotion: 4.700.000 Direct marketing: 5.800.000 Total budget: 24.000.000.000 Evaluation 14 Created for free by https://foxyutils.com ❖ Quarter III – Independence Day Campaign Content Main tool Sales promotion Digital marketing Tools Other tools Social media Advertising Personal selling Strategy & Objectives Target audience Use push strategy Increase revenue: Increase 10.00 billion VND Brand awareness: Be the top of mind of customers on DMX’s products Brand loyalty: Create retention of customers buying products of ĐMX Scope: Nationwide Age: 25 - 35 Income: > million VND Detail ● + Special prices: Discount 10% for these listed products: TV - Washing machine - Refrigerator Air conditioner ● + Attractive gifts accompanying these products ● + 0% Installment plan ● + Free shipping Create a 30s TVC named “Con bên” with the main image of blue people representing DMX with attractive discount products in the Independence Day 2/9 The aim is informing them about this interesting discount program to stimulate shopping demands for this occasion so that they are motivated to buy more Create a photo contest about sharing people’s meaningful moments with their parents accompanied with a message that they want to share with their family Use facebook and youtube channels ● Television channel: VTV3 and HTV7 ● Print media: - Magazines and newspapers to inform our discount products in this period ▪ Magazines: Tiếp thị & Gia đình ▪ Newspapers: Lao động, Thanh niên - POSM: banners, flyers, standee to decorate discount programs at available stores Sales teams support increasing sales revenue in the sales promotion period ● ● ● ● Increase 78% in total 3rd quarter revenue Attract 2.500.000 customers to buy the products Create 5.000.000 reaches our target audience Increase to 50% conversion rate buying products online and offline ● Increase retention rate of customers in the long term They are in the young working age and in the middle class with income – 15 million per month 15 Created for free by https://foxyutils.com Insight Big Idea Key message Truth: 2.9 is a national holiday in Vietnam, people always want to express their love to their parents in some ways For someone who lives far away from home, they often spend time to call for their parents in the hometown Tension: Limited finance and time Motivation: They live far away from home and want to show their love to parents in subtle ways Because of having limited finance, it’s a big drawback for them to go home But when they spend money to buy tickets to go home, they not have enough finance to buy gifts for their parents And when a son or daughter (have a job and graduated already) go to their hometown without gifts, they feel unconfident with relatives inside It’s still ok for people to not go home but still express your filial piety to parents by giving them a household good as a gift and DMX will help them Near or far is not a problem because DMX will help you to take care of your parents LỄ XA NHÀ - QUÀ GÌ CHO BA MÁ Timeline Budget ● ● ● ● ● Sales promotion: 5.100.000.000 Digital marketing: 1.300.000.000 Advertising: 2.600.000.000 Personal selling: 3.000.000.000 Total budget: 12.000.000.000 Evaluation 16 Created for free by https://foxyutils.com ❖ Quarter IV – Happy Christmas Campaign Content Main tool Tools Other tools Strategy Detail + Special prices: Discount 5% for these listed products: TV - Washing machine - Refrigerator - Air conditioner Sales promotion + Attractive gifts accompanying these products + 0% Installment plan + Free shipping Social media ● Facebook and youtube channels ● Print media: - Magazines and newspapers to inform our discount products in the Tet Holiday period Advertising ▪ Magazines: Tiếp thị & Gia đình ▪ Newspapers: Lao động, Thanh niên - POSM: banners, flyers, standee to decorate discount programs at available stores Sales teams support increasing sales revenue in the sales Personal selling promotion period Use push strategy ● Increase 80% in total 4th quarter revenue 17 Created for free by https://foxyutils.com & Increase revenue: Increase ● Attract 2.000.000 customers to buy the products Objectives 8.000 billion VND ● Create 4.800.000 reaches our target audience Brand awareness: Be the top ● Increase to 41,6% conversion rate buying of mind of customers on products online and offline DMX’s products ● Increase retention rate of customers in the long Brand loyalty: Create term retention of customers buying products of ĐMX Scope: Nationwide Target They are in the young working age who are in the middle Age: 25 - 55 audience class with income varying from – 15 million per month Income: > million VND Truth: According to Tap Chi Khoi Nghiep newspaper in 2019, the shopping trend of users on Christmas holiday increases because of attractive discount programs Besides, Vietnames people tend to spend much money shopping at the end of the year Insight Tension: People are afraid of spending too much money on this period but they still have to buy because of their preparation for the upcoming year Motivation: Looking forward to buying their needed products with an attractive and affordable price In order to serve shopping demands of customers at the end of the year without being worried of unaffordable prices, Dienmayxanh will provide customers incentives and Big Idea promotion programs with the most attractive price Dienmayxanh's products will make you a comfortable, happy, meaningful, and warm Christmas day Key MỪNG GIÁNG SINH - GIẢM LINH ĐÌNH message ● Sales promotion: 20/12/2021 – 25/12/2021 ● Social media: 15/12/2021 – 25/12/2021 Timeline ● Advertising: 15/12/2021 – 25/12/2021 ● Personal selling: 20/12/2021 – 25/12/2021 ● Sales promotion: 4.000.000.000 ● Social media: 2.600.000.000 Budget ● Advertising: 1.500.000.000 ● Personal selling: 1.900.000 ● Total budget: 10.000.000.000 Evaluation 18 Created for free by https://foxyutils.com 3.3 Evaluation - Statistics the revenue achieves in 1226 stores - Finalize the cost of the whole campaign against the Tentative and Budgetary is allowed - Effective achievement based on the percentage of campaign’s KPIs - Constantly measure efficiency through indicators of Impression, Action, Traffic, Conversion - Conduct consumer surveys about campaign ❖ ADVERTISING ❖ DIGITAL MARKETING 19 Created for free by https://foxyutils.com CONCLUSION This report is based on data from specific sources in previous years Besides, this IMC plan is sometimes affected by subjective opinion of the reporters Therefore, this campaign could go wrong with unpredictable forecasts We hope this report can be utilized We will regularly update, correct and supplement the campaign to be successful 20 Created for free by https://foxyutils.com REFERENCE Buzzmetrics (2016) Vi quang cao dien may xanh gay sot mang xa hoi? Retrieved from Buzzmetrics: https://buzzmetrics.com/vi-sao-quang-cao-dien-may-xanh-gaysot-mang-xa-hoi/ Brandon, W (2020, November 3) The Only Facebook Link Ads Guide You Need with Examples Retrieved from Instapage: https://instapage.com/blog/facebook-link-ads Brand Vietnam (2011) Mua sale huyen thoai 11/11 - 12/12 Retrieved from Brand Vietnam: https://www.brandsvietnam.com/campaign/Tiki-Mua-Sale-Huyen-Thoai Brand Vietnam (2011) Sake a Coke Retrieved from Brand Vietnam: https://www.brands vietnam.com/campaign/11-Share-a-Coke Charlie, L (2018, September 5) ways to remarket your website traffic with Facebook ads Retrieved from Charlie Lawranve: https://charlielawrance.com/facebookwebsite-traffic/ Hoang Ha (2020) The creative director behind the viral campaign Dien May Xanh Retrieved from RMIT University: https://www.rmit.edu.vn/news/allnews/2018/mar/the-creative-director-behind-viral-campaign-dien-may-xanh Influence Marketing Hub (2020, July 21) How Much Do YouTube Ads Cost? 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Retrieved from Saga - A Business Community: https://www.saga.vn/phan-tich-pest-la-gi~43068 Schlerf, P (2020, March 20) The surprising UK business culture Retrieved from Expatica: https://www.expatica.com/uk/working/employment-basics/surprising-uk businessculture-103526/ VietnamNet (2020) Home appliance market to be remapped after big deals Retrieved from VietnamNet: https://english.vietnamnet.vn/fms/business/186760/homeappliance-market-to-be-remapped-after-big-deals.html Vietstock (2020) Mobile World (MWG) sees profit rise despite COVID-19 Retrieved from VietStock: https://en.vietstock.vn/113-386041/mobile-world-mwg-sees-profitrise-despite-covid-19.htm WebFx (2020) Online Marketing Prices | How Much Should I Pay for Online Marketing Packages? Retrieved from WebFx: https://www.webfx.com/online-marketing-price 22 Created for free by https://foxyutils.com ... This report presents how we apply the knowledge of relevant integrated marketing communications We decided to choose Dien May Xanh (DMX) - the electronic retail system for this assignment The report... promotion: 13/01/2021 – 10/02/2021 Digital marketing: 13/01/2021 – 05/02/2021 Advertising: 13/01/2021 – 05/02/2021 Direct marketing: 13/01/2021 – 10/02/2021 Digital marketing: 3.500.000.000 Advertising:... ● ● ● Digital marketing: 15/04/2021 – 01/05/2021 Advertising: 15/04/2021 – 01/05/2021 Sales promotion: 30/04/2021 – 01/05/2021 Direct marketing: 25/04/2021 – 01/05/2021 Digital marketing: 3.300.000