NATIONAL ECONOMICS UNIVERSITY FACULTY OF FOREIGN LANGUAGES ENGLISH FOR BUSINESS DEPARTMENT NGUYEN THI LAM NGOC Ha Noi, June 2020 NATIONAL ECONOMICS UNIVERSITY FACULTY OF FOREIGN LANGUAGES ENGLISH FOR BUSINESS DEPARTMENT NGUYEN THI LAM NGOC A STUDY ON THE DEVELOPMENT OF A LONG-TERM STRATEGY TO ONLINE MARKETING IN YOLA INSTITUTE Ha Noi, June 2020 ACKNOWLEDGMENT First of all, I would like to express my sincere appreciation to the lecturers at National Economics University, especially the lecturers at the Business English Department for teaching me academic knowledge, encouraging me with their enthusiasm, and assisting me whenever I encounter problems during the completion of this study. Secondly, I would like to give special thanks to my advisor, Mrs. Le Ngoc Diep, for her professional support and orientation throughout this project. She not only gave me helpful guidance with her invaluable source of knowledge but also inspired me with her passion for marketing.
Thirdly, I am profoundly grateful to all my colleagues in YOLA Institute and particularly my leader Mrs. Nguyen Hai Yen who always shared with me any difficulty during my internship and supported me with your skills and experience. Thank you for caring and providing me with the best condition to acquire significant information sources serving the completion of my research. Last but not least, the thesis would have been able to complete without help from YOLA’s customers who agreed to participate in the research survey.
Resorting to their active and devoted participation, the thesis was able to be conducted successfully. Once again, I am truly grateful to all these people’s support and encouragement that enormously contribute to the success of my study. Nguyễn Thị Lam Ngọc — 11163657 — Business English 58A EXECUTIVE SUMMARY In this paper, the writer was going to research the issues of the online marketing strategy of YOLA Institute. The main objective of the research was to systematize some new basic theories of online marketing models and analyze operations of the marketing department in YOLA in terms of online activities so as to propose plans to improve designing marketing campaigns in the future.
This research aims to answer two following questions: 1. How is the status of online marketing strategy in YOLA Institute? 2. What solutions can be taken to improve the long-term online marketing strategy in YOLA Institute? Some methods will be applied to this research, including quantitative and qualitative methods. The research used statistic and comparative methods to analyze figures provided by the YOLA marketing department to acquire accurate conclusions about the effectiveness of the online marketing strategy in the institute.
The research also utilizes the survey method with a questionnaire designed for current and potential customers of YOLA to figure out their behavior and feedback on YOLA's online marketing quality. After that, the data would be collected, processed, and analyzed to demonstrate the results in the format of diagrams. The findings indicate that YOLA's current online marketing strategy has some positive effects on branding and managing customer relationships in particular. However, they encounter some serious challenges in combining different online platforms and therefore cannot design the most effective marketing mix.
They need to develop this strategy to reach target audiences and raise the brand awareness as well as customer satisfaction. Regardless of these difficulties, some possible and practical suggestions applying new marketing models are offered to remove such obstacles and enhance the quality online marketing strategy of YOLA in the long-term. Nguyễn Thị Lam Ngọc — 11163657 — Business English 58A LIST OF TABLES AND FIGURES Table 2. Customer decision making process Figure 3.
Customers’ awareness of different online marketing platforms of YOLA Figure 3. Customer review on the YOLA website Figure 3. Summarized information of people following the YOLA Fanpage on Facebook from 2019 to 2020. Customers’ awareness of YOLA’s Youtube channel Figure 3.
Customers’ feedback on the effectiveness of email marketing strategy in YOLA li Nguyễn Thị Lam Ngọc — 11163657 — Business English 58A LIST OF ABBREVIATIONS Abbreviation Meaning AIDA Awareness — Interest — Desire — Action SEO Search Engine Optimization CMS Content Management System PR Public Relation B2B Business to business ELF English for adult 11 Nguyễn Thị Lam Ngọc — 11163657 — Business English 58A TABLES OF CONTENT ACKNOWLEDGMENT.- - - -- HH HH ng HH nh ngàn 1 LIST OF TABLES AND FIGURES. Q nSS se, ii LIST OF ABBREVIATIONS. Introduction of the research topic. -- -- c5 225 3+2 ssevseeereserress 1 PN co.
Purposes of the research. 3 CHAPTER 1: INTRODUCTION OF YOLA INSTITUTE. Overview of YOLA Insfitufe. The foundation and development.
Main products and Services. Some issues in the online marketing system at YOLA. 5 CHAPTER 2: THEORETICAL FRAMEWORK. Overview of online marketing.
Definition and some basic content of online marketing. Role of online marketing for businesses in modern condition. New theory in online marketing. Engagement HéOđlGÏ,.
SH HH nhu 9 2. AdverfiSiHE AS A S€TVỈC©. SG ng key 11 2. Applying new marketing models to online marketing strategy.
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Strengths and weaknesses of current online marketing strategy in 20). 24 CHAPTER 4: RECOMMENDA TIONS. Long-term orientation for online marketing activities in YOLA Institute 8. Direction to improve online marketing strategy in YOLA Institute 26 4.
Applying new marketing models in designing the online marketing strategy 26 4. Developing current online marketing pÏafƒorms. Nguyễn Thị Lam Ngọc — 11163657 — Business English 58A INTRODUCTION 1. Introduction of the research topic The research topic is "A study on the development of a long-term strategy for Online Marketing in YOLA Institute".
The researcher expects to analyze the current online marketing strategy in YOLA with the effectiveness of different popular platforms. Based on the advantages and disadvantages of these campaigns, there would be some recommendations for YOLA to address current problems and develop their marketing strategy in the long-term to expand the brand image and maintain close relationships with customers on the Internet. Rationales Marketing has long been considered as the method that helps connect the business and customers. It ensures the business activities towards the suitable target market.
Resorting to marketing activities, enterprises probably understand their target customers more deeply and therefore can classify specific information about them. In addition, marketing researches are important in knowing the market and deciding whether the current business environment had a positive or negative effect on the flourish of companies. In fact, many enterprises utilize marketing as a means to recognize the strength and weaknesses of their products as well as the competitor's approach to the market. Based on this information, they can design a developing marketing-mix strategy to promote products and lead the market with competitive advantages.
Referring to the development of marketing, it is undeniable to mention a new but very popular form based on Internet platforms, marketing online. Online marketing is currently the fastest-growing form of direct marketing due to the widespread development of the Internet. By one estimate, the Internet now influences a staggering 60 percent of total retail sales. This tendency has influenced significantly traditional marketing and allowed marketers to take advantage of digital technologies in branding and attracting their customers.
It helps to promote products and services and build relationships with customers based on the Internet. As any other traditional education institutes in Vietnam, YOLA mainly marketing themselves through popular promotion tools such as advertising, sales promotion, and personal selling. However, currently, they need to promote direct marketing and specifically online marketing to keep up with digital era progression and gain competitive advantage. For the awareness of the necessity of this modification in 1 Nguyễn Thị Lam Ngọc — 11163657 — Business English 58A YOLA's online marketing strategy, the researchers decided to choose the topic "A study on the development of a long-term strategy to Online Marketing in YOLA Institute" to identify current problems in online marketing activities of YOLA and suggest more effective marketing mix approaches in long-term for this institute.
Purposes of the research The purpose of this study is to research the marketing system of YOLA through collected data from 2017 to 2019 and give recommendations to develop a long- term strategy for online marketing in YOLA Institute. The study will analyze and evaluate the effectiveness of different kinds of online marketing in acquiring, maintaining, and developing customer relationships in YOLA. Such variables as groups of customers, the content, promotion, frequency of marketing activities, and costs will also be considered. Research questions The objectives of the study are to focus on the following questions: - How is the status of online marketing strategy in YOLA Institute? - What solutions can be taken to improve the long-term online marketing strategy in YOLA Institute? 5.
Scope of the research The study will research online marketing activities of YOLA Institute in the last two years on several Internet platforms such as social media (mainly on Facebook), website yola.vn, and email marketing. The appliance of online marketing techniques and their effectiveness will also be analyzed to figure out the most suitable developing approach for YOLA to reach their target customers and become one of the market leaders. Methodology A combination of various methods will be used in order to gain research’s aims and objectives. Data collection and document analysis method will be applied to collect secondary data relating to marketing activities in the company and other documents including previous research about online marketing.
The data and figures of YOLA marketing activities on online platforms such as Facebook will be provided by marketing apartment to figure out the characteristics and expectation of customers. Nguyễn Thị Lam Ngọc — 11163657 — Business English 58A This research also uses a deductive approach, which means that the research starts by general knowledge then narrows to smaller details of the topic. In addition, observation method will give the research the detailed description and explanation to compare and contrast the efficiency of online marketing strategy in YOLA. The method of collecting data by questionnaire will also be utilized to survey on current and potential customers of YOLA Institute.
The questionnaire will be designed to analyze the effectiveness of YOLA’s online marketing strategy and give some recommendations to improve marketing plans in the future. The link to this online survey is attached to every post on YOLA’s Fanpage on Facebook within a week from April 15" to April 22" to inform and convince customers to take participate in. The data will be analyzed and discussed through 200 sample of customers’ answers. Design of the study The research includes four main chapters: Chapter 1: Introduction: YOLA Institute and main issues in online marketing system.
Chapter 2: Theoretical framework: Overview of online marketing theory Chapter 3: Analysis and findings: Real situation of online marketing strategy in YOLA Institute Chapter 4: Recommendations: Some solutions to address current issues an develop online marketing strategy in YOLA Institute Nguyễn Thị Lam Ngọc — 11163657 — Business English 58A CHAPTER 1: INTRODUCTION OF YOLA INSTITUTE In this chapter, a brief overview of YOLA Institute and current issues in online marketing strategy will be provided to help the readers understand the main products and orientation of YOLA. Besides, current marketing channels that are utilized in YOLA and their problems will also be introduced. Overview of YOLA Institute 1. The foundation and development YOLA Institute (YOLA Education Joint Stock Company) was established in 2009 with the head office located in Ho Chi Minh City.
The vital mission of YOLA is to "optimize and unlock the full potential of its students through a solid foundation of education”.