THE FINANCIAL UNIVERSITY OF FINANCE – MARKETING ------oOo------ THE 7Ps MARKETING MIX OF VIETJET AIR Branch of learning: Marketing Class: CLC_19DMA12 Course code: 2021702052712 Student’s name: Nguyễn Duy Tân – 1921002948 Trương Minh Mẫn – 1921000917 Phan Gia Cát Tường – 1921003892 Nguyễn Nhựt Hải Long – 1921004477 Nguyễn Thành Được - 1921005399 Hồ Chí Minh City, 15 July, 2021 TABLE OF CONTENT LIST OF TABLES. 5 LIST OF PICTURES. Reasons for choosing the topic. Objectives of the study.6 Structure of topic.
OVERVIEW OF VIETJET AIRLINES JOINT STOCK COMPANY .2 Vision and mission .3 Goals and Core values. 4 CHAPTER 2: MARKET ANALYSIS OF AVIATION INDUSTRY AND COMPETITORS:. 5 Overview of the world Aviation Industry and the Domestic Aviation market: .3 Political - legal environment .4 Socio-cultural environment. 13 CHAPTER 3: TARGET CUSTOMERS AND POSITIONING STRATEGIES .1 TARGET CUSTOMERS AND POSITIONING STRATEGIES.
Customers' perception of using Vietjet Air's services:. Customers searching for information about Vietjet Air's services:. Customer reviews of other options or alternatives:. Customers' experiences when using Vietjet Air's services:.
Feedback from customers after using Vietjet Air's services: .2 POSITIONING STRATEGY OF VIETJET AIR: .1 Positioning distinguishes a brand from its competitors: .2 Developing an effective positioning strategy: .2 Internal corporate analysis: .3 Using positioning maps to plot competitive strategy: .1 Marketing Strategy Evaluation:. 22 2 CHAPTER 4: MARKETING MIX STRATEGIES. What is product strategy?. Product strategy analysis.
Evaluate VJA's product strategy. Solution to complete the company's product strategy. Definiton of price. VJA’s Pricing Strategies.
Cost-Based Pricing. Value-Based Pricing. Competition-Based Pricing. The solution to complete the company's pricing strategy.
VJA’s Distribution of Supplementary and Core Services. VJA’s Distribution Strategies. VJA’s Place Decisions of Service Delivery. VJA’s Delivering Services in Cyberspace.
Đánh giá Distribution strategy của VJA (Ưu, nhược điểm). Giải pháp hoàn thiện Distribution strategy của công ty .1 What is a Promotion Strategy? .2 Actual situation of promotion strategy activities of VJA .3 Evaluate VJA's promotion activities. Complete solution for promotion activities .2 Flowcharting customer processes:.2 Processes in Vietjet: .1 Vietjet’s booking and payment process: .2 Vietjet’s air ticket refund process: .3 Vietjet's complaint and compensation process: .4 Vietjet’s maintenance process: .2 Propose solutions for Vietjet:.6 PHYSICAL EVIDENCE MANAGEMENT .1 Definition of evidence .3 Physical evidence assessment of Vietjet Air .4 Solutions and proposals for Vietjet Air company .1 Service employees are crucially important .2 Service employees as a source of Customer Loyalty and Competitive Advantage. Problems and suggestions for future .5 Pros and Cons of People’s Strategy.
Solutions and proposals for Vietjet Air company. 63 LIST OF TABLES Table 1: Structure of the company's shareholders as of January 4th, 2021 .9 Table 2: List of Board of Directors .12 Table 3: The service of each levels of price .28 Table 4: table of ticket prices of VietJet Air compared to Vietnam Airlines, Pacific Airlines from Ho Chi Minh city to some provinces .30 5 LIST OF PICTURES Picture 1: Life of cycle cost analysis .19 Picture 2: Scale and the level flight route coverage .20 Picture 3: Staff and aircraft of VJA .21 Picture 4: Positioning map 1 .21 Picture 5: Positioning map 2 .22 Picture 6: “Hunting 0-VND tickets to fly around VietNam Campaign” .31 Picture 7: 77% discount program forr passengers .32 Picture 8: Minh Tu and Celine Farach in VJA’s calenndar in 2018 .41 Picture 9: VJA’s promotion on VietNam Teacher’s day .42 Picture 10: VJA for bikini model to welcome U23 VietNam caused a lot of controversy. Reasons for choosing the topic The aviation market is now more interested than ever. Because life is more and more modern, people's needs are increasing.
From old bicycles, to motorbikes, to cars. People's means of transportation are getting more modern over the years. Moving between faraway places is no longer something that makes us think twice. No need to say much or discuss deeply, there is one thing that everyone must admit that traveling by air will be much more convenient than other types of means.
Although the cost is much higher, flying gives us commensurate benefits. First of all, the issue of time, traveling by "birds of flight" helps us save a lot of time. And thanks to that, our time will be longer, longer, and we can do more of our plans. Besides, health issues are also very important, instead of having to sit for hours on end tired in cars and trains, we can sit comfortably on airplanes in a much shorter time.
Along with the growth rate of the economy, the aviation market also develops in a proportional manner. According to IATA data, Vietnam's aviation market has the third fastest growth rate in the world with an average rate of 16.6% per year in the period 2001-2014. IATA also forecasts that Vietnam will be the fifth fastest growing aviation market in the world, reaching 150 million passengers by 2035. Vietnam's aviation industry is also the fastest growing industry in Southeast Asia.
It can be said that the success of the aviation market that Vietnam has cannot fail to mention the names Vietjet Air, Vietnam Airlines, Bamboo, etc. Among them, Vietjet is the name that is making waves when it was born. but both growth and revenue are outstanding. According to the announcement of the 2020 financial report, Vietjet announced a profit of 70 billion dong, while Vietnam Airlines lost more than 11,000 billion dong.
Realize the resounding success of VJA and the importance that the Marketing Mix strategy contributes to that success. We decided to choose the topic: "Marketing Mix Strategy of Vietjet Aviation Joint Stock Company" as our research topic. Objectives of the study - Learn about Marketing Mix activities of Vietjet Aviation Joint Stock Company - Analyzing the current situation of VJA's Marketing Mix - Analyze the business environment of VJA to see strengths, weaknesses, opportunities and threats. And from there, propose measures to improve VJA's Marketing Mix strategy.
Research subjects Marketing Mix Strategy of Vietjet Aviation Joint Stock Company 1. Research scope - Time range: 2017 – 2021 - Scope of space: in Vietnam 1. Research Methods - Collect secondary data and business results of VJA in recent years. - Collect data and information from newspapers, TV, Internet,.
- Using analytical methods, comparing data between years to come up with VJA's performance results.6 Structure of topic CHAPTER 1: INTRODUCTION CHAPTER 2: MARKET ANALYSIS OF AVIATION INDUSTRY AND COMPETITORS: CHAPTER 3: TARGET CUSTOMERS AND POSITIONING STRATEGIES CHAPTER 4: MARKETING MIX STRATEGIES CHAPTER 5: SUMMARY 1. OVERVIEW OF VIETJET AIRLINES JOINT STOCK COMPANY 1.1 About VJA VietJet's full name is VietJet Aviation Joint Stock Company. 2 This is Vietnam's first private airline. Not only air transportation, Vietjet also provides consumer demand for goods and services through e-commerce technology applications.
Currently, Vietjet Air is an official member of the International Air Transport Association (IATA) with the Operational Safety Certificate (IOSA). Currently, Vietjet is operating 80 A320 and A321 aircraft, carrying out more than 385 flights per day, transporting more than 65 million passengers. This airline currently has 105 routes covering destinations in Vietnam and a number of international routes such as Japan, Hong Kong, Singapore, Korea, Taiwan, etc. In the future, Vietjet Air will open more routes.
flies throughout the Asia-Pacific region. Vietjet's headquarters in Hanoi, address: Van Phuc Diplomatic Corps, Ngoc Khanh ward, Ba Dinh district. In Ho Chi Minh City, the head office is at 260 Ung Van Khiem, Binh Thanh District. In addition, the company's hotline number is 1900.2 Vision and mission Vision: To become a multinational airline corporation, with a wide network of flights throughout the region and the world, developing not only aviation services but also providing consumer goods on an e-commerce platform, a brand that is loved by customers.
love and trust. Mission: - Exploiting and strongly developing domestic, regional and international routes - Bringing a breakthrough in aviation services - Make air service a popular means of transportation in Vietnam and internationally - Bringing joy and satisfaction to customers with outstanding, luxurious service and friendly smiles.3 Goals and Core values Goals: Creating a new historical milestone for the aviation industry, making Vietjet a "made in Vietnam" global airline. 3 Core Values: Safe – Fun – Cheap – On time 1.4 Operational scale VJA operates more than 385 flights per day and has carried more than 65 million passengers, with 105 routes covering destinations in Vietnam and international routes to Japan, Hong Kong, Singapore, Korea, Taiwan, China, Thailand, Myanmar, Malaysia, Cambodia, etc. Vietjet plans to develop a wide flight network throughout the Asia-Pacific region, is studying to continue expanding routes in the region and has signed contracts to purchase new and modern aircraft with major aircraft manufacturers in the world.
4 CHAPTER 2: MARKET ANALYSIS OF AVIATION INDUSTRY AND COMPETITORS: Overview of the world Aviation Industry and the Domestic Aviation market: Currently, airlines are still struggling to maintain operations, partly thanks to the resources of businesses, partly thanks to financial support from the government. However, according to the assessment of organizations, with strong vaccine programs in countries and gradually loosening policies to open up internationally, it is expected that aviation activities will gradually become bustling and recover from the beginning of 2022. The number of passengers transported dropped sharply due to flight restrictions and social distancing, causing international and domestic routes to be suspended. The airline market also faces difficulties when tourism demand is low, leading to a decline in passenger arrivals.
After recording a sharp decline of 86.7% in April and May respectively due to the outbreak of the disease, the market recorded a gradual recovery in the following months thanks to the stimulus policies. during the tourist season, which mainly serves domestic tourists. For the whole year 2020, the number of passengers transported reached 34.8 million passengers, down 61%; in which international visitors reached more than 3 million visitors, down 79% and domestic tourists reached 31.7 million visitors, down 25%, a decrease much less than the world average. In Vietnam, with the best anti-epidemic record in the region and a country with the advantage of 22 airports, it is expected that Vietnamese airlines will gradually recover, and are expected to open international routes in the fourth quarter of 2021 and start to recover gradually in 2022.1 Economic environment Vietnam's economy in recent years has made great progress, with an annual growth rate of 7% to 8.6%, per capita income has increased significantly.
Vietnam's economy is changing its face, infrastructure is being upgraded, investment is increasing. With the rapid development 5 of the economy, human needs also increase, including the need for travel. People with high incomes have an increasing need for air travel. Vietnam's economy has achieved quite high growth.
Besides, GDP per capita also increased by more than 40%, from 1,532 USD/person in 2017 to 2,171 USD/person in 2020. Socio-economic situation Our society has made positive changes in the right direction, and the macro-economy has become more and more stable. These issues will create favorable conditions for the development of aviation transport. In the coming years, it is forecast that the world economy will continue to grow at an average rate of 3.5% in the period 2015-2020; The world tourism market will increase by an average of 3.
In 2015, there are nearly 1.18 billion foreign tourists, up 4.4% over the previous year. This is a very important premise for international and regional aviation to have strong growth and development conditions, including the aviation market.2 Technology environment The change in technology has had the most direct and strongest impact on the business of the aviation industry. It not only ensures safe flights, but also involves many other activities in the air transport business. The first is aircraft manufacturing technology.
This is the most important factor in the success of airlines.