Practice report: Marketing activities of TNG Fashion Company

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Practice report: Marketing activities of TNG Fashion Company aim expanding the marketing activities of company to attract customers, bring revenue and profit for the company, search market, brand and brand positioning; marketing activities to sustain business development, make a difference for the brand, optimize profits, maintain and improve customer relations.

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Nội dung Text: Practice report: Marketing activities of TNG Fashion Company

Practice report Supervisor: Ngo Thi Thai ACKNOWLEDGEMENT I am using this opportunity to express my gratitude to M.A NGO THI THAI who supported me throughout the process of writing report. Although I do not have many experiences and my knowledge is limited, but during the work Mrs. Thai gave me a lot of thoughtful recommendations, advice which helped me to complete the report in the best way. I am really grateful to her. Secondly, I would like to thank all my teachers in Ha Noi College of Commerce and Tourism who taught me during three years with a lot of basic and professional knowledge. Thanks to this knowledge I can apply to the practice and I carry out the report. At last, I sincerely thank TNG Fashion Company. I had a great chance to intent at the company. Here, I had a chance to meet some people who guided me in the internship period. They helped me a lot and provided information about the company which helped me to make a report. Especially, I also thank Mr. Manh who have direct guidance, advises me about what is best to do. Once again, I really thank you everyone at the company STUDENT: HOANG THI DUYEN Class: CĐAV4A i
Practice report Supervisor: Ngo Thi Thai TABLE OF CONTENTS STUDENT: HOANG THI DUYEN Class: CĐAV4A ii
Practice report Supervisor: Ngo Thi Thai LIST OF TABLES LIST OF ABBREVIATIONS STUDENT: HOANG THI DUYEN Class: CĐAV4A iii
Practice report Supervisor: Ngo Thi Thai PART I: INTRODUCTION 1. Rationales Today, Vietnam’s economy is expanding, so there are many great opportunities for businesses to develop, compete with the global economy. Marketing activities are aimed to satisfy customer needs and their desires through the exchange process. Marketing is one of the most important strategies for a fashion company. Marketing decisions coordinate the connection between business production activities and market of company. It ensures the operation of the enterprise market oriented. In addition, marketing is the activity, set of institutions, and processes for creating, communicating, delivering, exchanging offerings that have value for customers, clients, partners, society at large. While practicing at TNG Fashion Company, I learned about overview of business and knew the activities of enterprise which help me understand more about the company, have more experiences. What I learned from the internship was that the importance of marketing and how to become the best marketing manager. I will try to use my abilities to complete the job. 2. Aims of study Expanding the marketing activities of company to attract customers, bring revenue and profit for the company, search market, brand and brand positioning Marketing activities to sustain business development, make a difference for the brand, optimize profits, maintain and improve customer relations 3. Scope of the study The study covered marketing activities of TNG Fashion Company. I will work and research in this company from January to March 2015. At this STUDENT: HOANG THI DUYEN Class: CĐAV4A 1
Practice report Supervisor: Ngo Thi Thai time, I will follow all activities of company and gather them into my report. After my internship, I can understand more about marketing and its activities. 4. Method of the study I used synthesis method to gather information in my different media such as: book, internet, magazine… Besides, I also used analysis method to consider all documents when I received enthusiastic guidance from the sister in the company. It helps me get much important information to support my report. STUDENT: HOANG THI DUYEN Class: CĐAV4A 2
Practice report Supervisor: Ngo Thi Thai PART II: CONTENT Chapter 1: Theoretical Background of Marketing 1.1. Overview of marketing 1.1.1. Definition of marketing Marketing is the communicating the value of a product or service to customers, for the purpose of selling that product or service Marketing is a social activity of people to satisfy demand through exchange. Marketing is to identify what the human and social needs. If a product is created that no one needs to buy, it will not be sold. And business would not be profitable. Marketing is the process of working with the market to make the exchange to the needs and wants of people (Philip Kotler, 1980) According to E.J MC Cathy (1962): Marketing is the process of implementation of activities to achieve the objectives of an organization through anticipating the needs of customers to control the flow of goods and services to satisfy the demand from producers to customers or consumers American Marketing Association (AMA, 2008) said that:” Marketing is a task in the organization structure and a set of processes to create, exchange, transmission of values to customers to manage customer relationships in different ways, bring about benefits to the organization and the members of the board”. through market analysis and market segmentation, as well as understanding consumer behavior and advertising a product’s value to the customer. From a societal point of view, marketing is the link between a society’s material requirements and its economic patterns of response. Marketing satisfies these needs and wants through exchange processes and building longterm relationships. Marketing blends art and applied science and make use of information technology. STUDENT: HOANG THI DUYEN Class: CĐAV4A 3
Practice report Supervisor: Ngo Thi Thai 1.1.2. The role of marketing Marketing strategy and marketing mix is a very important activity in the business activities of enterprises, especially is commercial enterprises. Marketing strategies to help business looking for useful information about market conditions and increased market expansion of business scale. Marketing tools help enterprises dominate the market, accelerate the speed of competitiveness and satisfying customer needs. Thanks to the marketing strategy, the business activities are carried out in a uniform, business will approach potential markets, conquest and entice customers. Managing the marketing strategy will help business understand the purpose and direction, namely is the construction of the marketing mix. It bind all individuals, all parts of the organization together contribute to achieving common goals. Marketing strategy to help business grasp opportunities, risks, understand the strengths and weaknesses of their which to ability to cope with the volatility of the market and get the appropriate strategy. The most important role of marketing is to help them sell their goods for profit in order to survive and develop Marketing guide, direct and coordinate the activities of production and business of enterprises, whereby the decisions outlined in the manufacturing business have scientific basis. Thanks to research market demand, marketing ensures plan for the development of national economy. It helps the state orientate development direction of the industry and the national economy effectively. Marketing is a tool to help businesses plan their production and business strategy. Marketing research to find ways to satisfy the needs of customers, increased ability to compete ( tailieu.vn ) STUDENT: HOANG THI DUYEN Class: CĐAV4A 4
Practice report Supervisor: Ngo Thi Thai In addition, marketing also role to attract customers by activities such as: advertising, trade fairs, promotion, direct sales, public relations….. 1.1.3. The functions of marketing Products adapted to the needs of customers: Through market research and customer information, factors affect buying behavior or purchasing decisions of customers. Business manufactures have created products and goods to satisfy customers even the most demanding. Needs of today’s consumers changed with the previous. Carry out their activities marketing chain can acquire and coordinate the activities of the department technology, product standards, production, market research aim is to increase the attractiveness of the product on the market, satisfying the needs of customers. Distribution function: Distribution function includes all activities to organize the movement of goods optimal product since it ended production process until it is delivered to the retail store. In addition, it also guide clients about procedures related to the process of purchasing, warehousing system storage of goods preservation Goods consumption function: This function consists of two major activities: Control sales and sales operations, sales art. Support activities: Through support to customers, Marketing helps businesses better satisfy the needs of customers and the tools to compete effectively when optimizing costs can lead to difficult to compete on price. Support activities such as: advertising, promotion, participation in fairs, exhibitions and customer service activities other. Function satisfies the best needs of society. This is the most function of all marketing activities. Function enhanced adaptability and competitiveness backwardness, stagnation in business. STUDENT: HOANG THI DUYEN Class: CĐAV4A 5
Practice report Supervisor: Ngo Thi Thai Function increase efficiency of production and business activities is the relationship between the interests of society, the interests of business and the interests of the market. Marketing activities aimed at satisfying the needs of society and the market to satisfy the needs of business 1.2. Marketing process 1.2.1. Marketing research Marketing research is the collection and analysis purposes with the information system relevant to the determination or offer solutions related to the field of marketing Marketing activities in order to developed, expand knowledge, application, resolve a problem Marketing research including: exploratory research is the research aimed to identify targets and make research identified problems, descriptive research is to describe the research issues identified and causal research aimed to detect causal relationships between variables in a research problem Marketing research has a very important role in the marketing activities of the enterprise. Marketing research helps marketing managers assess the needs of the information and provide useful information about the client group. Marketing research is the applications specific market research, product research, distribution research, price research and advertising sales operations, competitive research, trend forecasting research change and development. Marketing research involves conducting research to support marketing activities, and the statistical interpretation of data into information. This information is then used by managers to plan marketing activities, gauge the nature of a firm’s marketing environment and attain information from suppliers. Marketing researchers use statistical methods such as quantitative research, qualitative research, hypothesis tests, chisquared tests, linear regression, STUDENT: HOANG THI DUYEN Class: CĐAV4A 6
Practice report Supervisor: Ngo Thi Thai correlations, frequency distributions, binomial distribution, etc… to interpret their finding and convert data into information. The marketing research process spans a number of stages, including the definition of a problem, development of a research plan, collection and interpretation of data and disseminating information formally in the form of a report. The task of marketing research is to provide management with relevant, accurate, reliable, valid, and current information. Market research, as a subset aspect of marketing activities, can be divided into the following parts: Primary research (also known as field research), which involves the conduction and compilation of research for a specific purpose. Secondary research (also referred to as desk research), initially conducted for one purpose, but often used to support another purpose of end goal. 1.2.2. Classification Exploratory Studies: Its goal is to determine or identify existing problems in marketing. This type of research is used in the first stage of the marketing research process to help determine the issues to be studied. Descriptive Studies: Its help researchers determine the scope of the study should be conducted, imagine comprehensive “environment” of the problem, and thus in some cases, the researchers were able to estimate the trends and dimensions development of problem. Causal Studies: Causal studies to detect causal relationships in the research problem, and so this is the kind of research aimed at finding a solution to solve the problem. To perform the casual studies, the researchers can use the analytical model assumptions, but more often and more suitable for the study is the use of experimental models 1.2.3. Factors affecting marketing 1.2.3.1. Product STUDENT: HOANG THI DUYEN Class: CĐAV4A 7
Practice report Supervisor: Ngo Thi Thai Products are all things, factors can be satisfied need or desire to be launched on the market with the purpose to attract the attention of consumers. For an enterprise wants to make good the consumption of their products should have policies and strategies on products such as: Product development: Products need to be expanded in the target market that enterprise identified Improved quality, characteristics, application: Customers who want to satisfy their needs best. To meet the changing needs of the product, businesses need to take measures to improve products Products of enterprise need to have separate models to be able to distinguish with the models of other enterprises and reputation in the business through product Products of enterprise to be sold in the market which is now defined target market to increase its sale. Product brings separate brands to help customers know the business name. 1.2.3.2. Price Enterprise needs to clear their pricing policy. The right price policy allows enterprises pricing and effective management of business. Policies often used include: Policy of price flexibility, price policies according to the life cycle of products, price policy “introduced”. Policy of flexibility: Enterprise have to choose between price policy and flexible price policy. Price policy is being given a price for all customers buying in the same basic condition. Flexible price policy is offering different prices in the same basic condition. Price policies according to the life cycle of products: given to the choice of prices for new products. Specific prices can greatly affect the time needed and the ability to sell in the next period by contrast level of distribution competitiveness and attractiveness of alternative products. STUDENT: HOANG THI DUYEN Class: CĐAV4A 8
Practice report Supervisor: Ngo Thi Thai Price policy “introduced”: offer low prices by cutting temporary to attract the attention of customers. This price applies for a short time when the company introduced products. 1.2.3.3. Distribution Distribution policy is an integral part of the complex synchronization marketing strategy. Distribution policy is extremely important role in marketing. A reasonable policy will make the process safe business, strengthen business links, reduce competition makes the process of circulation of goods quickly and efficiently. Distribution policy depends on pricing policy and producing policy Policies widely distributed unlimited, exclusive distribution policy, distribution policy choices. STUDENT: HOANG THI DUYEN Class: CĐAV4A 9
Practice report Supervisor: Ngo Thi Thai CHAPTER 2: Practical Background 2.1. Introduction about TNG Fashion Company 2.1.1. The history of formation and development 2.1.1.1. The formation TNG Investment and Trading joint stock Company was founded November 22, 1979 of the People’s Committee of Thai Nguyen province with initial capital of 654.7 VND. The company went into operation January 2, 1980. January 1, 2003, the company was privatized charter capital is 100% of the shareholders. November 22, 2007, the company’s shares are listed on the Ha Noi Stock Exchange with the amount is 5.430 million shares. The company’s headquarters at 160 Minh Cau, Thai Nguyen city. After 30 years of growth, together with the strong development of the textile industry Vietnam. The company has continuously invested to expand production, innovation technology machinery, diversifying items, training to improve the quality of human resources. Slogan business philosophy of the company: “ customer who are paid for us”. 2.1.1.2. The development The formation and development of the company is divided into five stages: The first period (1979 1983): the company was founded November 22, 1979 with initial capital of 654.7 VND. The company went into operation January 2, 1980. The main tasks of the enterprise at this stage is to produce workwear shirt under provincial targets. This is the period laid the foundation for the construction and development of the company. Production business activities during this period under the centrally planned subsidy, products manufactured according to the needs of the state. STUDENT: HOANG THI DUYEN Class: CĐAV4A 10
Practice report Supervisor: Ngo Thi Thai The second period (19841986): Here is the stable production phase. Production and business activities of this period under the centrally planned subsidy. The third period (1986 1993): This is the stage switching mechanism from a centrally planned to a market economy. In this period, economic situation of the country is extremely difficult, so the business of the enterprise becomes extremely difficult. Therefore, it inevitable spiral of recession. There are more businesses almost closed because not find a market for the product, workers lose jobs. The fourth period (19932002): Here is the transfer phase generation of leader. Production and business activities according to market mechanisms. Production and trading company with many flourishes, linkage with other units and abroad to invest in new equipment and technology and scale of production, attraction and solve more jobs for workers. The fifth period (from 2003 to present): The company started to operate in the model of joint stock company 100% owned by shareholders. Production and business activities according to market mechanisms, competitive domestic and international is becoming increasingly fierce. Maintaining market share product consumption should be based on brand. + At the 2006, the company increased its charter capital to over 18 billion. + March 18, 2007: the company increased its charter capital to over 54.3 billion. + May 17, 2007: company registered public company with the State Securities Commission. + August 28, 2007: general meeting of shareholders decided to rename was the company shares and trade investments TNG. 2.1.2. Function and tasks of production and business of the company STUDENT: HOANG THI DUYEN Class: CĐAV4A 11
Practice report Supervisor: Ngo Thi Thai 2.1.2.1. Function Production and sale of garments mainly office clothes . To do a good job of selling products on the domestic market, as well as to compete with other firms producing the same kind of business products, the company constantly invests in machinery, equipment and new production technologies. Exploitation of material and human resources of the country promote exports increased foreign exchange earnings contribute to the cause of national construction and economic development. At the same time, the Company regularly offers courses and professional training to improve skills further for workers to meet the rigorous requirements of customers. 2.1.2.2. Tasks For each business enterprise manufacturing company in general and TNG Fashion Company in particular, the production and business activities bring good results. Perform business activities on the basis of the initiative and adhere strictly to the provisions of law. Studying the possibility of production, market demand, recommendations and proposals for industrial Ha Noi solve problems in production and business activities. Company look for ways to improve product quality, increase productivity in order to maximize profits. Maximum exploitation of foreign markets. Job security, better living conditions for workers, environmental protection, fully comply with their obligations to the state and localities where it operates. 2.1.3. Organization structure 2.1.3.1. Management of the company TNG Investment and Trading joint stock Company includes three levels of management: senior management, middle management, STUDENT: HOANG THI DUYEN Class: CĐAV4A 12
Practice report Supervisor: Ngo Thi Thai facility management. Senior management of the company is general meeting of shareholders the highest authorities of the company. Board is the governing body with powers to decide all matters relating to the interests of the company. General management of the company appointed by the board to administer the business operations of the company. Middle managements who guide the daily activities of the company. Formed and incorporated the senior management decisions into specific jobs. In TNG Fashion Company, managers intermediate are director of branch and department assisting them. Facility management who monitor the activities of employees directly engaged in production of goods and services to ensure successful implementation of tasks. Based on the actual situation of human resources and field operations, during nearly 28 years of development, leaders and board of directors selection and organization management as following: Board General Manager Technical Business Director of Human director Manager Resource Technical Warehouse Research and Business HR Administrative Department development department Department department STUDENT: HOANG THI DUYEN Class: CĐAV4A prevention 13
Practice report Supervisor: Ngo Thi Thai Advantages: Manager directly and closely, work is clearly assigned to each department, no duplication of work, not duplicate human resources. Disadvantages: This layout requires multiple departments and multiple location manager. This is a disadvantage of small and medium companies. 2.1.3.2. Function Board: Are responsible for organizing, monitoring and directing the activities of the company, oriented development strategy, monitoring the use and development fund. Decide on the organizational structure, the regulations for the operation of the Company. Appoint, dismiss and supervise the activities of the Director General. Propose amendments and additions to the charter of the Company General Manager: Direct operating activities of the company under the authorization of the board. Organizations implementing the decisions of the Board, a business plan. Sign documents, contracts and documents as assigned by the charter company. Perform powers and duties as prescribed by law and the Company. Technical director: Fully responsible for the technical areas of the company as machinery and equipment, installation, warranty, maintenance, repair…. Business manager: Fully responsible for the company’s business. Director of Human Resources: Fully responsible for the array of administrative and personnel of the company. STUDENT: HOANG THI DUYEN Class: CĐAV4A 14
Practice report Supervisor: Ngo Thi Thai Human Resources department: Advise and assist the Board of Directors in the activities of recruitment, training, development of personnel policies for employees. Administrative department: Implementation of administrative, clerical, external affairs of the company Business department: planning and management of all business activities from which construction policies and market sales. The search for textiles and embroidery company. To develop the domestic market based on the company's strategy. Planning business of textile products, dyeing, sewing, embroidery of the company from orders received. Research and development prevention: Implementation of business research programs, research and development system, product development. Warehouse: Manage the amount of goods in the warehouse and in the transaction, is responsible for the import of goods under actual everyday Technical department: Responsible for the installation, transportation, maintenance, warranty for customers. 2.1.4. Human resources The human factor is the decisive factor in the production of business, so the company has determined: The human factor is the decisive factor in the production of business, so the company has identified: Labor is the leading factor of production and business processes. If the guaranteed quantity and quality of labor will bring high efficiency, because it directly affects the productivity of labor, employers coefficient, efficient machinery. So over the years the company has constantly focused on developing human resources in both quantity and quality. The company shares and trade investments in 6000 TNG existing employees are classified by gender and level. * Sort by gender: Women have 4756 people, accounting for ~ 92% Men are 414 people, accounting for ~ 8% STUDENT: HOANG THI DUYEN Class: CĐAV4A 15
Practice report Supervisor: Ngo Thi Thai Because of the characteristics of the garment industry, need ingenuity so the labor force in the company mainly women. * Classification by level: University degree: 148 people, representing 2.863% Master’s Level: 4 people, accounting for 0.077% College Level: 55 people, accounting for 1.06% Intermediate Level: 199 people accounted for 3.85% Workers: 4764, accounting for 92.15%. Due to the company operates in the field of textiles to the average age of employees in the company is relatively young, this is a favorable condition for the company because youth are active and innovative, creating steps breakthrough. Despite constantly improving qualifications of employees in the company, but now the amount of highly qualified staff is still limited. This requires companies to take measures to attract, recruit qualified staff with the company more. * The process of training: Step 1: Identify training needs. Pursuant to improve oriented investment from developing depth to produce annual business, the Board of Directors of the Company determines strategic human resource training in the trades. The unit, department, building departments annual training plan for their department. Step 2: Approval Chamber of financial institutions based on the orientation training company overall planning of the training program. If the training plan of the unit, department, departments do not fit the reality is not acceptable. Step 3: Implement new training + For direct production workers: STUDENT: HOANG THI DUYEN Class: CĐAV4A 16
Practice report Supervisor: Ngo Thi Thai For the skilled labor garment exam company conducted tests workmanship, subject and examiner checked by skilled administrative Organization conducted. Considering the scores to conduct worker wage increase for workers. For those who are not skilled workers, the company transferred the case to the training center of the company opened. At the heart of the trainees as required, check that the certificate. After the test, if satisfactory, then was transferred to work for the company 2.2. Reality marketing activities of TNG Fashion Company 2.2.1. Prices and methods of valuation of the company For the export processing contracts: Companies based on outsourcing contracts with customers that agreement processing price. For this kind, clients will deliver raw materials for the Company to produce finished products. Customers will order processing for a certain price, the Company conduct a study recorded a profit or not and then signed with customers For the domestic market: Based on the cost of production, based on each specific product, based on the timing of the market, given the rate of return on the purchase price formation. Valuation according to production costs. When pricing the product this way, the company should study carefully the costs that constitute its product, the cost per unit of product will be greater if the company also produced a small amount. The company producing large quantities of products, the cost per unit product costs due to the small allocation for a small unit of the product and the large amount of products. The company may accumulate experience management , workers accumulated production experience to facilitate enhanced production efficiency. So companies need to STUDENT: HOANG THI DUYEN Class: CĐAV4A 17