BUILDING AND DEVELOPING THE BRAND OF HDA ART EDUCATION JOINT STOCK COMPANY REALITY AND SOLUTIONS

FOREIGN TRADE UNIVERSITYFACULTY OF BUSINESS ENGLISH ---***---BUILDING AND DEVELOPING THE BRAND OF HDA ART & EDUCATION JOINT STOCK COMPANY - REALITY AND SOLUTIONS Hanoi, August 2020... CH

FOREIGN TRADE UNIVERSITYFACULTY OF BUSINESS ENGLISH

-*** -BUILDING AND DEVELOPING THE BRAND OF HDA ART & EDUCATION

JOINT STOCK COMPANY - REALITY AND SOLUTIONS

Hanoi, August 2020

TABLE OF CONTENTS

INTRODUCTION

1 Reasons for choosing the topic.

2. 3 Structure of the report

3 Research methodology.

CHAPTER 1: AN OVERVIEW OF HDA ART & EDUCATION JOINT STOCK

COMPANY AND BASIC CONCEPTS

1.1 Company overview.

1.1.1.The process of establishment and development

1.1.3.Organizational structure

1.2 Internship activities.

1.3 Theoretical basis of building and developing enterprise’s branding.

CHAPTER 2: CURRENT SITUATION OF BUILDING AND DEVELOPING THE

BRAND OF HDA ART & EDUCATION JOINT STOCK COMPANY

2.1 Current situation of building and developing the brand of HDA

2.1.1 The brand's identity

2.1.2 Current situation of investment in brand development

2.1.3 Marketing strategies in building and developing the brand

2.2 SWOT analysis

2.3 Achievements and limitations in building and developing the brand.

2.2.1 Achievements

2.2.2 Limitations

CHAPTER 3: RECOMMENDATIONS FOR BUILDING AND DEVELOPING THE

BRAND OF HDA ART & EDUCATION JOINT STOCK COMPANY

3.1 Orientation of building and developing the brand of the company in the

future.

3.2 Recommendations.

CONCLUSION

1 Restating reasons for choosing the topic

2 Overview solutions to the issue

3 Implications and limitations of the report

REFERENCES

1 Reasons for choosing the topic

Branding is one of the most effective ways for companies to popularize and

reach their target customers However, branding is not a priority for small

businesses nowadays It is viewed as a reductive concept involving only the

logo, the product, the service or the technology they sell (Inskip, 2004) In many

companies, they pay less or no attention to brand management in their daily

tasks A brand is defined as a "name, term, sign symbol (or a combination of

these) that identifies the maker or seller of the product" (Principles of Marketing

(Philip Kotler/Gary Amstrong) All businesses need to successfully sell their

products and services to customers in order to achieve business success and

competitive advantage, and small businesses are no exception to this rule

(Pelham & Clayson, 1998) Whilst marketing success is imperative for the

operational and financial success and growth of small and entrepreneurial firms,

such organisations face numerous complex and difficult challenges in the pursuit

of such objectives (Pelham & Clayson, 1998) Much of the success of the

owners of small enterprises stems from their ability to recognise and overcome

such challenges and formulate appropriate and effective branding plans and

strategies for their products and services (Pelham & Clayson, 1998)

The art training and education industry also has many limitations: New

businesses only focus on enrollment and training, do not pay much attention to

market research, product design, distribution systems and development of their

brands, not really mastering the large domestic market

2 Objectives of the report

Having the opportunity to accompany HDA Art & Education Joint Stock

Company as a marketing intern, I can have a general overview of what a

marketing executive at a company does, how this position supports others in the

whole company system In addition, through the whole working time, I

recognize some problems still existing that prevent HDA from utilizing

maximum benefits of branding in the market at present Therefore, for the

purpose of analyzing thoroughly the current situation and then figuring out some

best solutions to fix it and help the company make the most out of its image, I

come to write this report

3 Research methodology

With the proposed research objectives, all analyses are executed using ratios,

comparison methods in order to draw conclusions from the data collected The

data used throughout the report comprises secondary data gathered from annual

reports of the company, as well as other sources of information such as textbooks,

websites, journals, articles from the Internet Tables, diagrams and industry

benchmarks are used interchangeably to interpret and analyze the

above-mentioned data

4 Research structure

Except for table of contents, acknowledgements, introduction, conclusion and

references, this report covers three chapters:

Chapter I: An overview of HDA Art & Education Joint Stock Company

Chapter I1: Current situation of building and developing the brand of HDA Art &

Education Joint Stock Company

Education Joint Stock Company

Chapter 1 aims at introducing the HDA Art & Education Joint Stock Company, the

internship activities of the author as well as the theoretical basis Chapter II provides an

actual situation of building and developing the brand in HDA Art & Education Joint

Stock Company Chapter III points out recommendations that I conclude from

analyzing the current situation of the company

CHAPTER 1: AN OVERVIEW OF HDA ART & EDUCATION JOINT STOCK

Established as a start-up in 2019 with 4 founders, the company had spent

a whole year seeking its customers Their hard work paid off when theygot 25 classes in 6 locations the first year With their creativity, HDAsoon expanded their business to many dynamic provinces in Ha Noi

Since 2019, the company has officially diversified their services, whichincludes kids class and adult class From 2019 till now, the companyconcentrated on business expansion and brand positioning

1.1.2 Vision and mission.

HDA’s vision is to become a top-notch, trustworthy, and recognized

business in training dancing skill; from there, become a valuable factor in

contributing to the development of the young generation

HDA’s mission is to provide professional dance instruction and instill an

appreciation for the art of dance in a safe, high-quality studio

environment They also provide high quality dance classes to children and

adults in a non competitive, socially aware environment At HDA, their

work provides our dancers with all the necessary resources to be their

personal best and encourage students to test their skills by participating in

highly selective competitions around the country

Knowing the key role of core values which form the foundation on which

companies perform work and conduct themselves, in HDA, there are three

core values: Integrity and Diversity, Creativity and Passion, and

Connections and Collaboration The first value focuses on Integrity and

Diversity Tuan Anh Nguyen, the Director of HDA, stated that they say

what they mean and mean what they say If we make a promise, we will

do everything in our power to keep it We will never lie or twist the truth

to serve our own ends We aim to be trusted and know that this can only

be accomplished by being totally trustworthy In HDA, they are a

supportive community committed to individual and artistic integrity and

inclusion They promote and respect self-expression, a wide range of

ideas, and diversity in all its forms

The second core value at HDA is education It is not an exaggeration to

say Creativity and Passion is the key factor in any kind of art That’s why

all of HDA’s programs are designed to boost the creativity of children in

our program participants HDA aims to develop creativity and passion

that best prepare children for developing their soul The creativity and

passion benefits are derived from numerous activities in our classes,

excellence, we inspire, challenge and support the unconventional thinkers,

dreamers and doers who are passionate about using their creative works to

impact society It is how HDA makes their dancing classes different

The third core value is Connections and Collaboration In HDA, children

come to classes to connect with others We connect design and the

performing, visual, communication and liberal arts in the classroom and

the community, expanding artistic possibilities, outcomes and lives

through creative collaboration

1.1.3 Organizational structure

Here, the organizational structure of the company is organized according

to the online functional model Management tasks are divided into

specialized functions, which form departments These departments are in

charge of specialized areas that they directly manage but do not directly

order Instead, they will report to the executive director Once approved

by the board of directors and shareholders, the executive director will be

the direct decision maker

The organizational structure is detailed in the diagram below:

Figure 1.1: Organizational structure of HDA

(Source: HDA ART & EDUCATION JOINT STOCK COMPANY)

The founder and director is in charge of making important decisions in the business

operation with the assistance of the Executive Director and Professional Director

Under her leadership, the company is divided into 5 main departments: sales

department, marketing department, human resources department, accounting

department and professional teacher department Each department has a manager and

from 3 to 5 staff

study with HDA The partners include domestic and foreign ones The sales team is in

charge of establishing partnerships with companies, universities, and organizations in

Hanoi The task of the Marketing Department is to conduct business planning, market

researching, as well as promoting products and finding customers, responsible for

enrollment plans The Accounting department is in charge of financial planning for

the company, accounting for the revenues and expenditures of customers and

organizing business activities, as well as performing tasks assigned by the Directors

through human resources recruiting, allocating employees and organizing training for

new employees, improving professional skills for former employees The Professional

Teacher department, including HDA’s teachers, is responsible for teaching levels

according to qualifications

1.2 Internship activities

During my internship, I had the chance to work at HDA Art & Education Joint Stock

Company for 2 months (from July 1st to August 31st) in the Marketing Department

under the supervision of Mr Le Anh Tuan – Manager of Marketing Department As an

intern, my job was to assist in planning and implementing the content marketing

campaign and schedule including preparing relevant topics for blog posts and writing

blog posts weekly; to assist in improving previous posts on HDA’s social media flats In

short, my duty is to revise the old contents and produce new blog posts and content on

the website

1.3 Theoretical basis

1.3.1 Theoretical basis of branding

According to De Chernatony (2001), a brand can essentially be described as “an

identifiable product, service, person or place, and it can be increased when the buyer

or user perceives relevant, unique, sustainable added values which match their needs

most closely and more satisfyingly” Keller (2003) introduced the concept of brand

knowledge, and referred to a consumer’s cognitive brand representation, which

includes information about a brand that the consumer has acquired over time He

indicated that a brand should include the attributes, images, feelings, awareness,

benefits and experiences (Keller, 2003)

A company’s brand management is integrated into the daily operation of the company

Furthermore, a brand strategy and brand management implementation is not a

one-time effort, but a regular marketing strategy, and it should follow the development of

the enterprise (Keller, 1998)

1.3.2 Theoretical basis of building and developing enterprise’s branding

(Source: Easy Simple Plan for Entrepreneurs to Create a Marketing Plan for a Small

Business. [online] Entrepreneur Asia Pacific Available at:

<https://www.entrepreneur.com/slideshow/299487#1>)

There are 5 steps of how to set up effective and successful marketing strategies for a

company's branding

Step 1: Take a snapshot of the company’s current situation

This first section defines the company and its products or services then shows how the

benefits it provides set it apart from competition It's called a “situation analysis”

Positioning its product or service competitively requires an understanding of its niche

market Not only does the company needs to be able to describe what it markets, but it

must also have a clear understanding of what its competitors are offering and be able to

show how its product or service provides a better value The company should make its

situation analysis a succinct overview of strengths, weaknesses, opportunities and

threats Finally, describe any external opportunities the company can capitalize on

Step 2: Define who the target audience is

The company should develop a simple, one-paragraph profile of its prospective

customers It can consider prospects in terms of demographics age, sex, family

composition, earnings and geographic location as well as lifestyle

The company is recommended to write down a short list of goals and make them

measurable so that it will know when it has achieved them The company should

consider important factors for its goals including specificity, optimism, realism and

short/long term

Step 4: Research marketing tactics

This section is the heart and soul of the marketing plan, detailing the tactics the

company will use to accomplish its goals To complete its tactics section, it should

outline primary marketing strategies, then include a variety of tactics it will use to reach

prospects at any point in its sales cycle To identify its ideal marketing mix, the

company must find out which media its target audience turns to for information on the

type of product or service it sells

Step 5: Set marketing budget

The company will need to devote a percentage of projected gross sales to its annual

marketing budget With so many different kinds of tactics available for reaching out to

every conceivable audience niche, there’s a mix to fit even the tightest budget If having

found the costs for marketing tactics exceed the budget, the company should simply go

back and adjust its tactics until it has a mix that’s affordable

CHAPTER 2: CURRENT SITUATION OF BUILDING AND DEVELOPING

THE BRAND OF HDA ART & EDUCATION JOINT STOCK COMPANY

2.1. Current situation of building and developing the brand of HDA Art &

Education Joint Stock Company

2.1.1 Indicating the brand’s identity

● Brand: HDA, short for Hanoi Dance Academy, is an art and education companyspecializing in training dancers from 6-18 years old in Hanoi, their transaction name HDA Art &Education Joint Stock Company

The logo of the company is delicately designed, with a deeply symbolic image that

uses bright colors and suits for their main customers, children aged 6-18 years old