A.

CULTURE AND ITS IMPACT

1) Identity

COLLECTIVISM INDIVIDUALISM

- You’re responsible for society. - You’re responsible for yourself only.

- Society is more important. - You are more important.

- US - ME

- Face-saving/ Harmony - Clear, direct communication.

- Indirect type of expression (I think, - Responsibility

maybe) - Teamwork
- Hiring: Nepotism
- Respect for privacy
- Building skills
- Challenges, rewards for hard work
- Work for intrinsic rewards

- Vietnam, Korea, China - Canada, US, UK

2) Truth

HIGH UNCERTAINTY AVOIDANCE LOW UNCERTAINTY AVOIDANCE

- Formal business with rules, - Informal business

policies/Innovate - Take risks, go with the flow (If rules
- Minimize risks (I’m afraid of can’t be respected, they should be
uncertainties) changed)

- Rules, regulations, stress,

accountability…

- Europe, Rome, Japan - Singapore, Denmark, Hongkong

3) Hierarchy

HIGH POWER DISTANCE LOW POWER DISTANCE

- Centralized organizations - Flatter organizations

- Strong hierarchies (depend on boss) - Superiors and employees considered

- Large gap in compensation, authority, equals (limited dependence on boss;

respect readily approach and contradict bosses)

- China, Japan - Canada, US

4) Achievement

MASCULINITY FEMININITY

- Social gender roles: clear - Social gender roles: overlap

- Competitive - Cooperative

- Success - Quality of life

- Need to be the best (A+) - Enjoy work (C)

- US, Italy, Switzerland, Germany, Mexico - Nordic countries

5) Virtue

LONG-TERM ORIENTATION SHORT-TERM ORIENTATION

- Future rewards - Spend money

- Save money (“Don’t spend more than - Immediate gain/Temporary

necessary”)

- Stability/Durability

- China, Hongkong, Japan, Britain - Canada, Philippines, Vietnam

 6) Way of life

INDULGENCE RESTRAINT

- Free to enjoy life and have fun - Self-restrained and work

- Instant gratification - Curb gratification

- Lose social norms - Strict social norms

- Release desires - Control desires

- US, Canada - China, Japan

corporate culture organizational climate or set of values that guides or colors the
atmosphere within a company

corporate identity the manner in which a corporation, firm or business enterprise

presents itself to the public

multinational team a team that includes members from different nations

multinational culture multinational corporations operate in environments where they

deal with different cultures. multinationals serve customers from
various cultures and their workforce is also culturally diverse.

multinational company a company that has fully functional branches in more than 2
countries

cultural differences what behavior is common and accepted professionally in one

location compared to another

cultural similarities

cultural policy includes all company principles, values, & attitudes. It sets
 expectations for how employees should behave.

individual culture

parent company/holding a company that owns another company (công ty mẹ). This company
company
does not always have 100% of another company but only has the

rights of intervention.

relocation package money that is paid by a company to its employees in order to help
them with the costs of moving to a different place to work

repatriation package educational guidance to families repatriating back to their home

country from an overseas assignment

B. MOTIVATION
Pay and working conditions

salary a fixed amount of money that an employee receives.

career opportunities a number of chances to improve your position in the company.

glass ceiling a barrier that stops certain groups of people getting promoted to
the next level.

fringe benefits extras to the money that an employee receives, e.g. a company car,
free health care

work-life balance this tries to make sure that people spend the right amount of time
at work and don't work too much

open-plan office a working space where everybody has a desk, but nobody has their
own individual office.

effort-reward balance where the company tries to make sure that employees receive the
 correct amount of money for the amount of work they do

commission payment to somebody who sells goods, the more they sell, the
more of this they receive

appraisal system a way of measuring how successful an employee has been.

tip an extra amount of money you may pay to a waiter or taxi driver to
say thank you

bonus extra money somebody receives for a good performance.

severance package pay and benefits that somebody receives when they leave a job.

mentoring system a system where a new employee learns from a more experienced
employee at work

flexitime a system of working where people work a set amount of hours in a

period of time, but choose when they start and finish.

Performance reviews

constructive feedback useful advice that is sometimes critical

set goals and objectives decide a future plan

achievements things a person has done well

to review go over or look at something and analyze it

assessment judgment or evaluation

realistic expectations things you hope for and which are possible in the future

supervise check another person’s work

take responsibility (for) be the person whose job it is to do something

C. BRANDING
1) Definition
BRANDING is about getting your prospects to see you as the only solution to their problem.
Therefore, brands are not about you. Brands are about them.

BRAND LOVEMARK

- Leave a mark in the customer’s mind - Leave a mark in the customer’s heart

2) Brand spirit/essence
a. Core activity/core business/core profession: The business activity that is the main
source of a company's profits and success, usually the activity that the company was
originally set up to carry out.

- Coca-Cola: American way of life

- Pepsi: Open lifestyles

- L’Oreal: Dream of beauty

- Mercedes-Benz: Impression of high standing

b. Human Soul/Eponymy brand effect: An eponymous brand is created when an individual

uses their own name to develop the business.

- Nestlé: Henri Nestlé (1866);

- Rémy Martin (1724);

- Maggi – Julius Maggi

- HP: Hewlett-Packard (1937)

- Phở Thìn
 c. Subsoil’s soul/roots’ feeling (Certificate of origin): The unique natural and environmental
factors that contribute to the character and quality of a product. (search ko ra nên xài AI)

- Nước mắm Phú Quốc

- Cà phê Ban Mê

d. Country’s soul (Country brand name): how a country’s unique and distinctive essence is
harnessed to create a powerful and authentic brand identity. (AI)

- Korean kimchi

- Milan Fashion Week

3) Brand’s partnership
- Brand loyalty: the tendency of some consumers to continue buying the same brand of goods
rather than competing brands.

- Brand awareness: the extent to which consumers recognize a brand based on its image,

features, and characteristics. Ex: The “Share a Coke” campaign by Coca-Cola (chiến dịch mà

mí lon coca có tên riêng) encouraged customers to buy physical bottles with their names and

share virtual Coke bottles on social media, leading to increased brand awareness

- Brand Stretching: the practice of using a well-known brand name to promote new products
or services in unrelated fields. Ex: Michelin’s Guide was created by the Michelin tire
company as a way to promote their tires by encouraging people to travel and explore.

- Brand image: how audiences perceive your brand and how customers feel about their
experience with you. Ex: Coca-Cola is best used at the time of happiness, joy, and good
experience. It is the ‘original cola’ and has a ‘unique taste’.

- Own label products: product that is made for a store and has the store's name on it. Ex:
Coopmart's own label products

- Me-tooism/Lookalike products: the practice of making a product, offering a service, etc.,

that attempts to duplicate one that is established

4) Vision
- The vision is a statement — an intention — about where the company is going.
 - A brand’s vision is a short phrase describing the future your brand is ultimately working
towards.

5) Mission
- A brand mission statement clearly communicates a brand's purpose, objectives and how it
plans to serve its audience.

6) Core value
- Your core brand values are the beliefs that you, as a company, stand for. They serve as the
compass that guides your brand story, actions, behaviors, and decision-making process.

7) Tagline
- Tells people who you are and what you stand for in a few succinct words.

- Is one or two phrases that provide clarity, entertainment, or emphasis to help highlight a
brand's mission, purpose, or culture. Taglines help consumers feel more connected to
brands.

8) Logo
- Logos are images, texts, shapes, or a combination of the three that depict the name and
purpose of a business

9) Storytelling
- Brand storytelling is using a narrative to connect your brand to customers, with a focus on
linking what you stand for to the values you share with your customers.

D. HUMAN RESOURCE MANAGEMENT

1) HR Tasks
- Recruiting new staff

- Salaries

- Pensions
 - Working with departments to help bring about change

- Advertising for new staff

- Developing staff abilities

- Informing employees about developments

- Supporting heads of department in getting the best work out of their staff

2) Vocabulary of skills, motivation and training

stakeholder somebody who is involved in an organization or company and has

an interest in its success

prospects the possibility of having future success at work

orientation training or preparation for a new job

proficient highly skilled and experienced

groom somebody to prepare somebody for a special job

competencies skills that are needed to do a job well

acumen skills in making the correct decisions

passion a strong interest and wish to do something

inadequate not good enough

360-degree feedback performance data from superiors and subordinates

3) The process of human resource management

- Human resource planning

+ Forecasting

_ Estimate demands for worker

_ Estimate the supply of worker

- Job analysis
 + Recruiting and selecting new employees

+ Testing

- Training and development

- Appraising employee performance

personnel management administrative (hành chính) activities related to acquiring workers,

preparing them for work, overseeing their performance, and providing
compensation

human resource expansion of personnel management to include strategic planning

management

job analysis process by which jobs are studied to determine the tasks and
dynamics (động lực) involved in performing them

job description (jd) statement of the tasks involved in a given job and the conditions under
which the holder of the job will work

job specification statement describing the kind of person who would be best for a given
job, including the skills, education, and previous experience the job
requires

recruiters members of the human resource staff who are responsible for
obtaining new job candidates

résumé summary of education, experience, interests, and other personal data

compiled by the applicant for a job

orientation session or procedure for acclimating (thích nghi) a new employee to

the organization - include company background, policies, benefits,
duties

performance appraisal evaluation of an employee's work according to specific criteria

→ đánh giá hiệu suất làm việc của nhân viên

termination act of getting rid of a worker

→ chấm dứt hợp đồng

seniority longevity in a position or company, frequently used as a basic for

making human resource decisions (compensation, termination, and
so on)

outplacement job-hunting and other assistance that a company provides to laid-off

workers

employment at will at-will employment means employers can terminate employees for no
reason. Likewise, employees can leave a job without a reason.

mandatory retirement required dismissal of an employee who reaches a certain age

worker buyout distribution of financial incentives (hoa hồng) to workers who voluntarily

depart (= voluntarily leave their job), usually undertaken in order to

shrink the payroll

on-the-job training training focuses on specific skills and tasks for a particular role

4) Compensation
- Compensation: payment of employees for their work

a) Wages and salary administration

wages cash placement based on the calculation of the number of hours the
employee has worked or the number of units he or she has produced

salaries weekly, monthly, or yearly cash compensation for work

incentives cash payments to workers who produce at a desired level or whose unit
(often the company as a whole) produces at a desired level

bonus cash payment in addition to the regular wage or salary, which serves as
 a reward for achievement

commissions payments to workers who achieve a certain level of sales

profit sharing system for distributing a portion of the company's profit to employees

production sharing plan for rewarding employees not on the basic of overall profits but in
relation to cost savings resulting from increased output

dividend profit gained by owning shares from a company

→ cổ tức

b) Employee benefits and services

fringe benefits compensations other than wages, salaries, and incentive programs

on-site nurseries where employees can visit their children during breaks during in the

work day, are fringe benefits that only a few companies ofer, despite

the increasing number of working women with pre schooling-age

children - nhà trẻ cho con của nhân viên

perks special class of fringe benefits made available to a company's most

valuable employees

unemployment government-sponsored program for assisting workers who are laid of

insurance
and, to a lesser extent, those who quit their jobs - bảo hiểm thất

nghiệp

pension plans company-sponsored programs for providing retirees with income

employee stock program enabling employees to become owners or part owners of a

ownership plan company.

“cafeteria” benefits allow employees to pick their benefits - up to a certain amount of

 money- to meet their particular needs

others paid holidays, sick pay, premium pay, paid vacation, health and safety
programs

E. ORGANIZING FOR BUSINESS

Defining organization

internal organization structural plan of an enterprise

The formal organization

formal organization official structure of an enterprise

organization chart diagram that shows how work is divided and where authority lies

a) Authority, responsibility and accountability

authority power granted by the organization and acknowledged by the

employees

chain of command pathway for the flow of authorities from one level of an organization's
employees to the next. the chain of command makes it clear who
reports to whom

delegation assignment of authority and responsibility to lower-level employees

b) Specialization and departmentation

Division of labor

division of labor specialization in or responsibility for some portion of an organization's

overall task

- dividing by task Each individual worker needs only certain specific skills. When the
workers repeatedly perform the same task, their skills will be perfected
 and they are able to perform the task more quickly. Furthermore, less
preparation or setup time is also necessary because the workers do not
need to shift from task to task.

- dividing by Workers know not only what to do or when to do but also know who is
authority looking over their shoulders to make sure they are doing it right. So,
when planners work out the division of labor, they have to be sure to
grant a certain amount of authority to those who will need it to do their
job.

Forms of departmentation

department groups or sections of people within an organization who are working

together in a specific area

departmentation by grouping of workers according to their responsibilities

function

department by territory grouping of an organization's personnel by physical location

departmentation by grouping of workers and activities in an organization according to

product product lines

departmentation by grouping of organization's personnel according to the types of

customer/ client outside businesses or individuals they deal with

departmentation by grouping of an organization's personnel according to the type of

process work activities they engage in

c) Span of management

span of management number of people a manager directly supervises

span of control breadth of a manager's authority

tall organization highly centralized operation, with many levels of workers and most
of the authority and responsibility concentrated at the top

flat organization one that is quite decentralized, characterized by wider spans of

management and greater delegation of authority to people in middle
-management positions

d) Organizational structures

line organization one that establishes a clear line of authority flowing from the top
downward through every subordinate position

functional one in which specialists are given direct authority in their particular area
organization of expertise

line and staff one that has a clear chain of command from the top downward but that
organization also includes various auxiliary groups of people who come under the
heading of staff

- staff those who supplement the line organization by providing advice and
specialized services

project management a form of organization in which employees from various functional areas
are brought together temporarily to work together on a project

matrix organization one in which employees are part of both line organization and of
permanent teams combining representatives from several functional
areas

e) Types of organizational structure (Business advantage)

1. Divisional Cơ cấu phòng ban, nơi các phòng ban có quyền bán tự trị, các phòng ban
structure đều có 1 hệ thống điều hành riêng của mình và vận hành dưới 1 trụ sở tổng
công ty.
 Vd: tổng công ty General Motors có thể các phòng ban kinh doanh các loại
(mảng) xe khác nhau và sản phẩm khác nhau, ví dụ như xe tải, xe van, xe hơi,
và các sản phẩm như phụ tùng, máy móc và các thiết bị điện tử. Từng phòng
ban này đều có các bộ phận kinh doanh, bảo dưỡng, quan hệ khách hàng, tài
chính, nhân sự, hành chính, v.v riêng. Tất cả đều dưới quyền 1 tổ chức lớn
nhất là tổng công ty General Motors. Cơ cầu này chủ yếu dùng cho các công
ty/ tập đoàn đa quốc gia có quy mô tổ chức lớn.

2. Matrix structure Cơ cấu tổ chức dạng ma trận là một cơ cấu tổ chức lai ghép trong đó cơ cấu
quản lí theo chiều ngang của dự án được lồng ghép vào cơ cấu tổ chức theo
chiều dọc của công ty.

Trong cơ cấu tổ chức dạng ma trận thường có hai hệ thống chỉ huy, một hệ
thống chỉ huy theo kênh chức năng và một hệ thống theo kênh dự án.
Thay vì phân bổ từng phần công việc dự án cho các bộ phận chức năng để tạo
ra các nhóm tự quản, các thành viên tham gia dự án báo cáo kết quả công
việc đồng thời cho trưởng phòng ban chức năng và nhà quản lí dự án.

Cơ cấu này phù hợp cho các công ty chủ yếu hoạt động theo dự án, các
agency và các công ty quảng cáo, xây dựng do đặc trưng hoạt động theo dự
án, các thành viên trong dự án sẽ báo cáo cho cả quản lý dự án và trưởng
phòng ban chức năng của mình
3. Functional Mô hình chức năng là một mô hình tổ chức chuyên môn hoá. Các phòng ban
structure/Line được phân theo chức năng cụ thể và phục vụ chỉ 1 chức năng đã phân. Vd:
structure công ty có 1 phòng ban tài chính quản lý toàn bộ vấn đề tài chính, kế toán.
kiểm toán của công ty. Tương tự, 1 phòng marketing sẽ quản lý toàn bộ vấn
đề marketing của công ty. Mô hình này phù hợp cho các công ty vừa và nhỏ.

The changing organization

intrapreneur entrepreneurial managers, drawn from within the organization, who

are given the opportunity to pursue new lines of business

The informal organization

informal organization organizational characteristics and relationships that are not part of
 the formal structure but that influence how the organization

accomplishes its goals - tổ chức phi chính thức

→ networks in informal organizations are often formed without regard for

hierarchy or department

grapevines unofficial lines of communication in an organization, which bypass (bỏ

qua) the formal chain of command

office politics the ruthless manipulation of other people in an attempt to gain power
with the informal and formal organization

network working seeking to broaden one's effectiveness in an organization or industry

by forming relationships with others in the same or related fields -

network trong công việc

mentor experienced member of an organization who serves a guide and

protector to a younger, lower-level employee

corporate culture organizational climate or set of values that guides or colors the
atmosphere within a company

→ văn hóa doanh nghiệp

- macho/ tough-guy rewards aggressiveness and demands immediately results; found most
culture commonly in unpredictable industries, such as entertainment

- work-hard/play-hard rallies around promotions, contests and the image of the super
culture salesperson; common in sales-oriented firms, such as retailers

- bet-your-company relies on painstacking decisions making, based on solid information

culture and input from experts; found in high-stakes, slow feedback
industries with large but infrequent payoffs, such as oil and aerospace

- process culture focuses on technical perfection and procedures rather than reasons;
 favored in low risk, slow-feedback organizations, such as government
or financial services

Vocabulary about organizations and their structures

line manager

regional division

delegation of
responsibility

conflict of interest xung đột lợi ích

to implement to put a plan or system in operation

to accommodate to have or make room for

deployment the movement of people to other places or departments, usually for a

short time

to handle to deal with

to disperse to spread people across a large area

F. SUPPLY CHAIN MANAGEMENT - DISTRIBUTION

1) People involved in the supply chain

manufacturers the producers of the finished products

wholesalers companies which sell the finished product to different shops

suppliers companies offering the raw material or partly finished goods to other
companies

retailers shops which sell the finished product

 e-tailers organizations who sell the finished product via the internet

end users/ consumers people who buy the finished product

2) Functions of a supply chain

- receiving and filling customer requests

- new product development

- marketing

- production operation

- distribution

- finance

- customer services

Each stage in the supply chain is connected through the flows of materials, the products,
information and funds. These flows often occur in both directions.

3) Decision-making phases of SCM

1. Supply-chain strategy/ design decision

- long term and very expensive

- decisions about:

+ how to structure the supply chain

+ how to configure the supply chain

+ how resources will be allocated

+ what process each stage will involve

2. Supply-chain planning

- time frame 3 months to a year

- goal of planning: to maximize the supply-chain surplus

As a result of the plan, companies define a set of operating policies that short-term
operations follow
 3. Supply-chain operations

- time frame is weekly or daily

- during this phase decisions are made about an individual customer’s order

- goals of supply-chain operations

+ to deal with incoming orders

+ to allocate production resources to meet individual orders

+ to set a date when an order is to be filled

+ to decide the mode and schedule of delivery

4) The distribution mix

- Definition: Combination of middlemen and channels that a producer uses to get a product
to end users.

a) Middlemen

middlemen business-people who channel goods and services from producers to end
users

1. Merchants (such as wholesalers and retailers) buy and re-sell their goods. They take
ownership of inventory (hàng hoá) and bear the expense of storing and
distributing the product -

2. Agents (brokers-người môi giới or real estate agents) specialize in negotiations

involved in transactions (giao dịch). They do not take ownership of what they

are selling. Instead, they make money by charging a commission or a fee for
facilitating a transaction

- Functions of Middlemen

● Providing a sales force

● Providing market information

● Providing promotional support

● Sorting, standardizing, and dividing

 ● Carrying stock

● Delivering the product

● Assuming risks

● Providing financing

● Buying

b) Channels

Channel alternatives:

1. Channels for consumer goods:

- Producer to consumer

- Producer to retailer to consumer

- Producer to wholesaler to consumer

- Producer to agent/broker to wholesaler to retailer to consumer

2. Channels for industrial goods:

- Producer to industrial user (direct distribution)

- Producer to wholesaler to industrial user

- Producer to agent/broker to industrial user

- Producer to agent/broker to wholesaler to industrial user

3. Channels for services:

- Producer to agent/broker to consumer or industrial user

- Producer to consumer or industrial user

Channel selection:

1. Product-related factors

2. Buyer-related factors

3. Company-related factors

Channel of distribution: Route that products follow on their way from the producer to the end
user

Intensive distribution an approach to distribution that involves placing the product in nearly
 every available outlet

→ Phân phối rộng rãi

Selective distribution an approach to distribution that relies on a limited

number of outlets → Phân phối chọn lọc

Exclusive distribution approach to distribution in which middlemen are given the exclusive
right to sell a product within a given geographic area

→ Phân phối độc quyền

5) Types of middlemen
a) Wholesalers

Wholesaler: firms that sell products to other firms that buy them for resale or industrial use

1. Merchant independent wholesalers that take legal title (lấy danh nghĩa) to
wholesalers products

- Rack jobbers: merchant wholesalers that are responsible for

setting up and maintaining display in a particular store area

2. Agents and brokers - Agents: wholesalers that do not take title to products but that
receive a commission for selling products

- Brokers: agents that specialize in a particular commodity

(=product)

3. Producer-owned - Branch office: wholesale operation (hoạt động bán buôn) owned
wholesalers by the producer, that carries stock and sells products

- Sales office: wholesale operation, owned by the producer, that

doesn't carry stock but takes orders

b) Retailers

retailers: firms that sell directly to the public

 1. department store large retail stores that carry a wide variety of high-quality
merchandise (=product)

scrambled merchandising policy of carrying merchandise that is ordinarily sold in different

type of outlet (cửa hàng tồn kho)

2. bargain stores

discount stores retailers that sell variety of goods below the market price by keeping
their overhead (costs) low

off- price stores retailers that offer bargain prices by maintaining low overhead and
acquiring merchandise at below wholesale costs

trans-shipping (chuyển tải): purposely ordering far more of a given

product than is needed in order to obtain the producer's volume

discount and pass along the excess to a gray marketer)

gray market outlet retail establishment that obtains product at a steep, unauthorized
discount and then resells them at the bargain price

warehouse clubs low-priced stores that sell memberships to small retailers and
members of employee groups

wheel of retailing evolutionary process by which stores that feature low prices are
gradually upgraded until they forfeit their appeal to price-sensitive
shoppers and are replaced by competitors

→ quy trình bán lẻ

3. specialty stores stores that carry only particular types of goods

catalog showrooms retail stores in which customers browse through catalogs and then
receive the items they select from an on-premises warehouse
 4. variety stores stores that sell a wide selection of low-priced items

5. supermarkets large departmentalized food store

6. convenience stores food stores that offer convenient locations and hours but stock a
limited selection of goods

7. non-store retailers

mail order firms companies that sell products through catalogs and shift them
directly to customers by mail

vending machines

Door-to-door retailers

6) Physical distribution

Physical distribution: all the activities required to move finished products from the producer to
the consumer

1. In-house operations

a) Order functions involved in receiving and handling an order

processing → xử lý đơn hàng

b) Warehouse facility for storing backup stocks of supplies and finished products

→ nhà kho

Distribution center Warehouse facilities that specialize in collecting and shipping merchandise

(trung tâm phân phối)

Containerization use of large, standard-sized sealed containers for shipping merchandise

2. Transportation
 - Ground transport

- Air transport

- Other types of transport

G. MARKETING STRATEGY - MARKETING AND CONSUMER BEHAVIOR

1) Definition of marketing
- Marketing: the process of planning and executing the conception, price, promotion, and
distribution of ideas, goods, and services to create exchanges that satisfy individual and
organizational objectives

a) Changes in marketing (4 stages)

- Product-oriented marketing

- Sales-oriented marketing

- Total marketing

- Competitive marketing

marketing concept belief that a business must determine and satisfy customer needs
in order to make a profit

marketing strategists the one who take into account the needs and preferences of an
enormous variety of consumers

competitive advantage quality that makes a product more desirable than those offered by
the competition.

(the conditions that make a business more successful than the

businesses it is competing with, or a particular thing that makes it
more successful)

product differentiation features that distinguish ones company's product from another
company's
 b) The utility of marketing

Utility power of a good or service to satisfy a human need

Form utility consumer value created by transforming inputs into products

Place utility consumer value added by making a product available in a convenient

location

Time Utility consumer value added by making a product available in a convenient time

Possession utility consumer value created when someone takes ownership of a product

Marketing strategy overall plan for marketing a product

2) Marketing strategy
a) Types of market

- Market may be classified into two broad categories:

+ the consumer market: individuals or households that purchase goods and services for
personal use

+ the industrial/ organizational market: enterprises that buy goods and services for
resale to the consumer market or for their own operations

Market people who need or want a product and who have the money and
authority to buy it

Industrial/Organizational customers who buy goods or services for resale or for use in
market conducting business

→ Thị trường công nghiệp

Consumer market population of individuals who buy goods and services for their
personal or household use

→ Thị trường tiêu dùng

Target market specific groups of customers to whom a company wants to sell a

 particular idea, good, or service

→ Thị trường mục tiêu

Market segments groups of individuals or organizations within a market that share

certain common characteristics

→ Thị trường phân khúc

b) The marketing mix ( also known as the 4Ps)

Product How to decide on a product that will attract customers. These include

- Product design

- Product quality

- Product features

- Branding

Price How to price company’s product, pricing is the only one of the 4Ps that
generates a turnover for the organization

Pricing should take into account the following factors

- costs of producing the product

- prices competitors charge

- company objectives

- target group

- willingness to pay

Promotion How the company should inform prospective (=potential) customers/

target market about the benefits of its products

- advertising

- public relations

- personal selling

- sponsorship
 - …

Place (Distribution) How products get to customers

2 channels of distributions

- Indirect distributions: the use of a “middleman”, for

example, a manufacturer → wholesaler → retailer

- Direct distribution: direct from a manufacturer to the consumer

3) The marketing process

Marketing research process of gathering information about marketing problems and

opportunities

4) Consumer behavior
a) Analyzing buying motives

- Consumer buying behavior

- Industrial organizational buying behavior

rational motive logical reason for doing something (Costly, dependability (độ bền),
usefulness)

emotional motive personal reason for doing something which satisfies underlying feelings
(Sensory satisfaction, fear, pride, emulation)
 b) Segmenting the market

market segmentation division of a market into subgroups

Include

- geographic segmentation

- demographic segmentation

- behavioristic segmentation

- psychographic segmentation

behavioristic categorization of customers according to their relationship with

segmentation products or response to product characteristics

demographics study of the numerical characteristics of a population

disposable personal money that a family has to spend after paying taxes
income

discretionary income money that can be spent on non-essentials (after they have paid tax
and paid for all the things they need such as living costs and food)

psychographics classification of customers on the basis of their psychological makeup

Some pricing strategies

premium pricing strategy a strategy of high prices

penetration pricing the organization sets a low price to increase sales and market
share

skimming pricing the organization sets an initial high price and then slowly lowers
the price to make the product available to a wider market. The
objective is to skim profits off the market layer by layer

competition pricing setting a price in comparison with competitors

 Marketing types

1. Outbound marketing email, SMS, telesales,…

2. Inbound marketing build content/hub

3. Content marketing hashtag

4. Viral marketing pass messages to other sites/users

5. Experience/ market consumption experience than products

experiential
marketing

6. Social media Facebook, Instagram, TikTok,...

marketing

7. Social marketing promote consumer’s and society’s well-being

8. Societal marketing meet its needs and the needs of the society while considering the
(sustainable long-term period of the society
marketing)

9. Cause-related spend percentage of sales/revenue to charity or public cause

marketing

10.Guerrilla marketing grow brand awareness

11. Digital marketing any marketing effort that leverages digital channels to reach and
engage consumers

12. Word of mouth/web customers’ recommendation of a brand

marketing

13.Mobile marketing reaching your target audience on their smartphones and tablets

14. Omnichannel integrating multiple channels to create consistent customer

 marketing experience

15. Showrooming/ showrooming is a trend in shopping behavior where consumers visit

Webrooming stores to touch and feel the products but opt to purchase them online

→ webrooming is the opposite

16.Influencer marketing a collaboration between popular social-media users and brands to

promote brands’ products or services

Vocabulary for marketing

marketing mix blend of marketing elements that satisfies the demands of a

chosen market segment

a USP (Unique Selling an exclusive feature of the product that no other competitor
Point) product has

a niche market refers to specialist markets or products which cater for a small
number of customers. It is often a segment of a larger market

a mass market the market for goods that are produced in large quantities

a commodity product refers to a product that is very similar to other competitor

products

a lifestyle product refers to a product that is the opposite of a commodity product.

Consumers are mainly influenced by its “feel good factor”

turnover refers to the total value of a company’s sales. This is calculated by

multiplying the number of units sold by the price of each unit

price sensitive usually refers to customers or products who are highly sensitive to
price changes, so if there is a small increase in price, there will be a
large drop in demand
 profit margin refers to the difference between the cost of producing a unit and
the price of selling that unit. It is expressed as a percentage, e.g. a
10% margin

Note a niche market → low turnover/ high margin

a mass market → high turnover/ low margin

Primary sector

Secondary sector