In this essay, I have been transformed into the position of “marketing executive” in the context of Masan Consumer company to analyze and research an overview of the marketing process, the roles and responsibilities of the marketing department, the influence of marketing. to other departments, the importance of its effectiveness, the macro and micro environment of the business. In the process of transforming into a marketing officer of the company, I have successfully completed the assigned tasks, but due to my limited qualifications, I initially applied theory to practice, so this report is inevitable. shortcomings and limitations in the writing process. I look forward to receiving your valuable contribution to perfect and realize the shortcomings that I have made.
ENTERPRISE OVERVIEW
Introduction of the business
Company name: Masan Consumer Corporation (Masan Consumer)
International transaction name: Masan group corporation
Meaning of the name Masan: The word Ma means strong, and san means product The letter S in the middle also means the shape of the country of Vietnam
Email address: danielle@msn.masangroup.com
Website: https://www.masangroup.com
Head office: Room 802, 8th floor, building Centra Plaza, No 17 Le Duan, Ben Nghe Ward, District 1,
Masan's logo features a vibrant blue and orange color scheme, showcasing two interlocking birds in flight This design symbolizes the group's ambition to soar to new heights and deliver the highest quality products to consumers.
Brand equity refers to the perceived value that customers associate with a company's products and services, influencing their feelings, evaluations, comparisons, and reactions in the marketplace.
In Vietnam, Brand Asset is recognized as an intangible fixed asset that depreciates over time, leading to a gradual reduction in its value, which is then quantified and reported on the enterprise's balance sheet.
This item, though not widely recognized, appears in the consolidated financial statements of major companies like The Gioi Di Dong, Vinamilk, and particularly Masan.
Masan's 2022 consolidated financial statements reveal a significant increase in the group's brand equity, which rose by VND 1,284 billion over the past year, resulting in a total brand equity balance of VND 2,707 billion by the end of 2022 (DNSE, 2023).
Masan appears to hold the highest brand equity value in Vietnam's financial landscape, attributed to its successful mergers and acquisitions and a diverse portfolio of renowned brands, including WinMart, WinMart+, Phuc Long, Vinacafe Bien Hoa, Vinh Hao mineral water, and NET laundry detergent (DNSE, 2023).
FIGURE 1.1: Residual value of brand equity on Masan Consumer's consolidated financial statements (VND million)
Source: Statistics of audited financial statements of enterprises over the years
In 2020, Masan's consolidated brand value approached 3,000 billion dong, reflecting a significant increase of 1,604 billion dong in brand assets due to business combinations.
The corporation's mission is to provide superior products and services to nearly 100 million Vietnamese people, so that they pay less for their daily basic needs
Masan began its journey 25 years ago with a commitment to "Serving consumers," aspiring to become a leading corporation in the market The company aims to be a key growth partner and a preferred employer in Vietnam.
1.2 History of formation and development
- January 4, 1996: Masan established a company in Russia to import and trade food products in the Eastern European market
- 2001: Masan Food brand was brought to Vietnam market, marking the appearance of this brand in the domestic consumer goods market
In 2002, the Company shifted its focus from export business to the domestic market by introducing the brand name "Chinsu," aiming to tap into the potential of the local market.
- August 1, 2003: Renamed Ma San Industry - Trade Joint Stock Company In this year, this trade center has launched Chin-su premium fish sauce production to the market
- In November 2004 the company was established under the name Ma San Maritime Joint Stock Company with a charter capital of 3.2 billion dong
- 2008: Masan Industry - Trade Joint Stock Company changed its name to Masan Food Joint Stock Company (Masan Food)
In August 2009, the company rebranded as Masan Group Joint Stock Company It was successfully listed on the Ho Chi Minh City Stock Exchange on May 11, 2009 In July 2015, the company officially adopted the name Masan Group Joint Stock Company, which remains in use today.
In 2011, Masan Food Joint Stock Company rebranded as Masan Consumer Goods Joint Stock Company (MasanConsumer) That year, the company successfully completed a private placement of 10% of its shares, raising $159 million from investor Kohlberg Kravis Roberts & Co., which valued MasanConsumer at $1.6 billion.
In late 2011, Masan Consumer invested over 50 million USD to acquire a significant stake in Vinacafé Bien Hoa Joint Stock Company, signaling the company's strategic expansion beyond the food industry.
In 2022, Masan experienced a significant growth in its commercial assets, which rose by VND 1,284 billion over the year As a result, the company's brand equity reached a total of VND 2,707 billion by the end of 2022 (DNSE, 2023).
Marketing Concepts
Marketing definition
Today, marketing is defined in a wide variety of ways In the early decades of the 20th century, the term
The term "marketing" originated in the United States and made its way to our country in the 1980s after gaining traction in Europe and Asia It derives from the English word "market," which means "market." Often, marketing is confused with the act of selling, as the suffix "ing" suggests a method or approach.
Marketing is a multifaceted process that involves the creation and exchange of products and values, enabling individuals and groups to fulfill their wants and needs It is defined as a managerial activity focused on identifying, anticipating, and profitably satisfying customer requirements According to the Chartered Institute of Marketing, it encompasses the planning and execution of ideas, pricing, promotion, and distribution of goods and services to create exchanges that meet the objectives of both individuals and organizations Effective marketing facilitates mutually advantageous value exchanges, where value is the reward each party provides, such as money, assistance, or goodwill Unlike sales, which are often one-time transactions, marketing fosters long-term relationships through ongoing exchanges As Philip Kotler states, marketing is the process through which individuals and groups achieve their needs and wants by creating and exchanging products and values.
An overview of the marketing process to reflect the key roles of marketing
Understanding customers and market dynamics is essential for business development at Masan Consumer By analyzing customer preferences, needs, and behaviors, the company can tailor its products and strategies to effectively meet the demands of its target audience.
Masan Consumer prioritizes market research to collect and analyze data on market trends, consumer behavior, and competitors This strategic approach enables the company to understand customer preferences, uncover emerging market opportunities, and identify potential growth areas.
Masan Consumer utilizes surveys, focus groups, and interviews to gather valuable insights into consumer preferences and buying behaviors This understanding enables them to create products and marketing strategies that effectively align with the needs and desires of their target audience.
Masan Consumer leverages data analytics tools to examine extensive datasets, including sales figures, customer feedback, and market trends This approach allows the company to gain critical insights into consumer segmentation, purchasing behaviors, and product performance, facilitating informed, data-driven decision-making.
Masan Consumer actively monitors its competitors to gain insights into their strategies, product offerings, and market positioning This analysis enables Masan Consumer to identify competitive advantages and formulate differentiation strategies, ensuring they remain a leader in the market.
Masan Consumer prioritizes customer feedback by utilizing surveys, reviews, and social media to assess satisfaction and pinpoint improvement areas This proactive approach enables the company to swiftly address issues while fostering strong relationships and loyalty through diverse engagement channels.
Masan Consumer's commitment to understanding its customers and markets enables the company to adapt its business strategies, innovate products, and provide value This customer-focused approach keeps Masan Consumer competitive and responsive to changing market trends and consumer preferences.
2.2.2 Create a customer-driven marketing strategy
Developing a customer-centric marketing strategy is crucial for Masan Consumer to effectively connect with its target audience By prioritizing customer needs, Masan Consumer can enhance message relevance, foster strong brand loyalty, and improve overall engagement Key elements of a successful customer-driven marketing approach include understanding customer preferences and delivering tailored communications.
Masan Consumer effectively segments its customer base by analyzing demographic, psychographic, and behavioral characteristics This strategic approach enables the company to pinpoint specific customer groups with unique needs and preferences By gaining insights into these segments, Masan Consumer can customize its marketing strategies to reach the appropriate audience with tailored messaging.
Masan Consumer establishes a strong value proposition that effectively conveys the unique benefits and advantages of its products, setting them apart from competitors and emphasizing the specific value provided to customers.
Masan Consumer utilizes customer journey mapping to analyze the entire process from initial awareness to post-purchase interactions This approach allows the brand to identify key touchpoints and enhance the overall customer experience By understanding these interactions, Masan Consumer can deliver personalized messaging and tailored offers at every stage of the customer journey.
Masan Consumer enhances its product development by integrating customer feedback and market insights, ensuring that products meet customer needs and preferences This approach allows Masan Consumer to create solutions that align with customer expectations and effectively address their pain points.
Masan Consumer implements a comprehensive integrated marketing communications strategy that effectively engages its target audience through multiple channels, including traditional advertising, digital marketing, social media, and public relations The messaging is carefully designed to align with customer needs while showcasing the distinct value of Masan Consumer's products.
Masan Consumer prioritizes long-term customer relationships by emphasizing continuous engagement and personalized interactions Their strategies include loyalty programs, effective customer feedback systems, and responsive service, all aimed at nurturing customer connections This approach not only fosters loyalty but also encourages advocacy among their customer base.
Masan Consumer consistently monitors and evaluates key marketing performance metrics, including customer acquisition, retention, and satisfaction This ongoing analysis enables the company to gauge the success of its marketing initiatives and implement data-driven modifications to enhance its strategies.
ANALYSIS OF THE MARKETING ENVIRONMENT OF THE BUSINESS 13
Functions and tasks of Marketing in the organization
Brand building and development are crucial components of Masan Consumer's business strategy A strong and distinctive brand fosters a positive company perception, sets its products and services apart from competitors, and cultivates enduring customer relationships To effectively build and develop a brand, the marketing department must undertake a series of essential tasks.
Building and managing a professional customer care system ∙ Designing after-sales and product warranty programs for businesses ∙
- Actively participate in sponsoring social activities to promote brand image∙ Register to participate in programs related to quality products such as: High-quality Vietnamese goods, ISO
Masan Consumer has effectively established its flagship brand "Chinsu" as a trusted name in the market, offering a diverse selection of high-quality food products, including fish sauce, soy sauce, and chili sauce The company's marketing department has focused on positioning Chinsu to reflect authentic Vietnamese taste and exceptional quality Through strategic marketing, advertising, and product promotion campaigns, Masan Consumer has successfully transformed Chinsu into a renowned and prestigious brand.
Masan Consumer is dedicated to establishing a unique and powerful brand by deeply understanding consumer needs, developing effective brand strategies, ensuring high product quality and innovation, and actively engaging with customers while responding to market trends These initiatives enable Masan Consumer to create a brand that connects with customers, differentiates its products, and fosters long-term loyalty.
3.1.2 Market research and customer analysis
Masan Consumer recognizes the critical role of market research and customer analysis in shaping its business strategy These practices offer numerous advantages, as demonstrated by real-life examples that highlight their impact on the company's success.
To effectively identify and expand into target markets, businesses must gather comprehensive market information This involves defining the market scope and segmentation The marketing department plays a crucial role by establishing a system to collect and analyze data on pricing, products, and competitors, facilitating informed research, product development, and market expansion efforts.
Analyze and evaluate information collected, thereby making decisions to improve existing products or develop completely new products
Proposing ideas for new products, product design orientation, branding, product packaging Developing a market expansion strategy in line with business development goals
Example: To illustrate market research and customer analysis, consider an example where Masan
Masan Consumer is set to launch a new line of healthy snacks aimed at health-conscious consumers The marketing department has conducted thorough research to assess market size, consumer trends, and competitor dynamics By analyzing data from customer surveys, market reports, and competitor insights, they have identified opportunities to create products that align with customer preferences This research revealed a demand for nutritious and convenient snacks, prompting the development of a product line that successfully penetrates the market and enhances customer satisfaction.
Market research and customer analysis provide substantial advantages for companies such as Masan Consumer These strategies facilitate informed decision-making, enhance targeted marketing, drive product innovation, and create a competitive edge Additionally, they help in minimizing risks, boosting customer satisfaction, and fostering business growth By gaining insights into the market landscape and customer preferences, companies can customize their strategies and communications to effectively address customer needs and secure long-term success.
Marketing and advertising strategies play an important role in Masan Consumer's overall business success
It involves developing a comprehensive plan to effectively promote its products or services, build brand awareness, and drive customer engagement Here are the key elements of a marketing and advertising strategy:
To effectively reach its marketing objectives, Masan Consumer must define clear marketing goals and identify specific customer segments This involves understanding the target audiences that the company aims to engage with its marketing messages Additionally, it is crucial to develop a distinct positioning strategy that sets Masan Consumer's products or services apart from competitors, ensuring that the messaging resonates with the intended audience.
To effectively convey the unique value proposition and benefits of Masan Consumer products, it is essential to develop 15 compelling marketing messages tailored to the target audience Utilizing diverse marketing channels and tactics, alongside a robust content strategy, will enhance visibility Implementing targeted advertising campaigns will further engage potential customers Measurement and analytics will provide insights into performance, while effective customer relationship management will foster loyalty Continuous improvement in these areas will ensure sustained success and relevance in the market.
Example: Masan Consumer runs a television advertising campaign to promote the beverage brand "Tiger
The marketing team at Masan Consumer creates eye-catching advertisements that emphasize the refreshing taste and high quality of Tiger Crystal They utilize online advertising, including social media and targeted digital campaigns, to expand their reach Additionally, the company sponsors sports and entertainment events to boost brand visibility and foster positive connections with their audience.
A well-executed marketing and advertising strategy is essential for the success of Masan Consumer, as it builds brand awareness, attracts customers, and differentiates products from competitors By understanding the target audience and effectively communicating the brand's value proposition through various marketing channels, Masan Consumer can drive business growth and achieve marketing goals Continuous analysis and adjustment of strategies ensure that the company's products resonate with consumers, leading to sustained success in the marketplace.
The Marketing Department enhances the company's image and manages information through strategic corporate relations activities This includes organizing events, engaging in community initiatives, and fostering strong relationships with supportive media outlets.
Interactive marketing enhances customer experience by fostering strong relationships through engaging campaigns By organizing events, promotions, and experiential activities, companies can create positive interactions that build customer trust and loyalty.
To effectively enhance the company's public image, the marketing department must focus on fostering strong relationships with the media and press Collaborating with the media serves as a powerful strategy for brand building and provides essential support for managing unforeseen crises.
Building strong media relationships is essential in a marketing career, as they can impact your professional journey It's crucial to maintain clear communication with the media to avoid misunderstandings In the event of a conflict, staying calm and addressing the issue sincerely is key to resolving it effectively.
Characteristics of the business's internal environment
Masan Consumer fosters a robust organizational culture centered on professionalism, creativity, and collaboration The company prioritizes employee training and cultivates a comfortable, motivating work environment that promotes personal growth and innovation.
Masan Consumer boasts a well-defined and adaptable organizational structure, featuring distinct functional departments including marketing, sales, research, and product development This clear division of labor promotes efficiency and enhances coordination across various departments.
Masan Consumer leverages advanced resources and state-of-the-art technology to enhance its operations By investing in innovative technology, the company streamlines manufacturing processes, enhances data management, and improves customer interactions This strategic approach boosts productivity, optimizes management practices, and elevates the overall customer experience.
The company has a staff of highly qualified and skilled professionals Masan always sets the criteria
"People are valuable assets and competitive resources, driving pioneering exploration and fostering cooperation for mutual development This collaboration aims to harmonize benefits for all partners while embodying a strong national spirit However, to support a large production system, the company requires a significant workforce, necessitating effective management of this labor."
Masan faces significant challenges due to its numerous management layers and uneven staff qualifications To address these issues, the company is prioritizing employee training to optimize its human resources Additionally, Masan has developed a skilled sales and marketing team adept at analyzing consumer preferences and trends, which supports direct sales staff who maintain regular contact with customers across various points of sale.
Strengths: High quality, abundant and stable human resources
Weaknesses: Staff qualifications are not evenly distributed
Masan Consumer's commitment to quality personnel and training significantly enhances marketing efforts by ensuring high service quality, understanding customer needs and trends, and fostering customer loyalty This active collaboration with customers not only strengthens brand identity but also boosts competitive advantage in the market.
In 2018, Masan emerged as one of the top three companies for effective advertising, significantly investing in media coverage across television and social networks This strategy has made Masan's products, particularly Chinsu fish sauce, well-known among Vietnamese consumers The Advertising and Marketing team at Masan excelled in implementing innovative ideas that highlighted the unique advantages of Chinsu, allowing it to stand out against competitors like Knorr Phu Quoc Through well-crafted TV commercials and a strong media presence, Masan effectively communicated the message of clean and safe food to its audience.
Strengths: Good brand positioning campaign
Weaknesses: Exaggerated advertising, not true ingredients as advertised
Masan Consumer has achieved significant success and industry leadership by leveraging a robust product development strategy, effective marketing and advertising tactics, and the economic stability of Vietnam These elements have collectively strengthened the company's marketing resources.
Research and development of technology
• In the past time, Masan has made great efforts to improve technology, upgrade modern machinery, help improve productivity and quality, to meet the increasingly demanding needs of customers
AVE_ITALIA utilizes advanced, synchronous machinery and highly automated production technology to ensure strict food safety standards By leveraging local raw materials, the company not only reduces costs but also maintains the freshness of its products.
The company has successfully transitioned its Health and Safety Management System from the ISO 18000 standard to the updated ISO 45001 version, while also upholding ISO 14001 environmental standards to enhance management efficiency.
Strengths: Product development capability ensures good quality
Weaknesses: There are still concerns about product quality that are not as advertised
Masan Consumer prioritizes technology research and development, implementing modern machinery and high health and safety standards to enhance product quality and management efficiency These efforts significantly contribute to the company's success and reliability within the industry.
Since its establishment, Masan has always wanted to accompany Vietnamese customers to develop and build an image
Masan identifies product quality and consumer safety as the company's mission in every product
With a strategy of three no "seasoning seeds without MSG, fish sauce without residue, " to meet the needs of consumers
Masan Consumer is recognized as a reliable company, offering a diverse array of products while prioritizing quality and safety Its commitment to community contributions enhances its reputation, fostering trust among customers and partners alike.
Masan fosters a fair and equitable workplace, cultivating a company culture that drives success and positions itself as one of Vietnam's top employers Committed to enhancing the material and spiritual well-being of the Vietnamese people, Masan offers an appealing work environment, generates job opportunities, and contributes to the overall advancement of social security both locally and nationally.
Strengths: Fair, professional working environment, attracting talents
Weaknesses: Acquiring multiple subsidiaries will cause cultural conflicts between subsidiaries Accouting financial
Masan Consumer boasts robust financial resources, enabling the company to effectively raise capital for expanding production, diversifying its product offerings, and enhancing product quality This strong financial foundation allows Masan to penetrate new markets and cater to various customer segments As a result, the company's growth rate has seen significant improvement over the years.
On 22nd March, Masan Consumer Joint Stock Company (Masan Consumer - MSC) conducted its 2013 Annual General Meeting As a subsidiary of Ma San Group (Masan Group - MSN), MSC is recognized as one of the fastest-growing consumer companies in Vietnam The company currently leads the market in fish sauce, soy sauce, chili sauce, and instant coffee, while holding the second position in the instant noodles sector.
Weakness: high loan interest rate
AN ANALYSIS OF HOW MARKETING INFLUENCES AND INTERRELATES
Marketing influence and relationships with other functional departments
Group 1: R&D department (Research and Development)
Marketing plays a crucial role in delivering insights and feedback to the R&D department, highlighting customer preferences, market trends, and the competitive landscape This information is essential for guiding the development of new products and enhancing existing ones.
R&D collaborates with Marketing to understand customer needs and preferences, helping to develop innovative and market-driven solutions.
Conflicting priorities can arise in project prioritization, as different departments have varying focuses For instance, the marketing team often emphasizes products with significant market potential and immediate customer demand, whereas the research and development team tends to prioritize long-term innovations that necessitate greater time and resources.
Time constraints often lead to conflicts between marketing and R&D teams Marketing typically pushes for quicker product development and shorter lead times, while R&D emphasizes the need for adequate time to conduct comprehensive research and development.
Conflicts may arise when the R&D department proposes ideas or features that are technically feasible but may not align with the market demand or fit the marketing strategy.
Marketing may feel frustrated if the R&D department fails to deliver products or solutions that meet customer expectations or align with the marketing positioning.
Group 2: Purchasing and Production department.
Marketing collaborates with Purchasing and Production to ensure an adequate supply of materials and resources to meet customer demand.
Marketing provides sales forecasts and market insights that help the Purchasing and Production departments plan production schedules and manage inventory levels effectively.
Conflicts may arise if the Purchasing and Production departments face challenges in meeting the demand forecasted by Marketing, leading to product shortages or delays.
Marketing may request changes or improvements in the production process or product quality, which may increase costs or disrupt existing production workflows.
Marketing works closely with the Finance department to develop budgets, allocate resources, and track marketing expenses.
Finance provides financial analysis and data that assist Marketing in evaluating the profitability and return on investment (ROI) of marketing campaigns and initiatives.
Conflicts may arise if Marketing requests an additional budget or resources that exceed the allocated budget or are deemed financially unfeasible by the Finance department.
Marketing often faces challenges in resource allocation, balancing investments in marketing activities with the need for cost-saving measures This can result in conflicts with the Finance department over budget priorities.
Marketing and Sales collaborate closely to develop sales strategies, promotional campaigns, and customer acquisition and retention plans.
Marketing generates leads and creates marketing materials that support the Sales department's efforts in converting prospects into customers.
Conflicts may arise if there is a lack of effective communication or alignment between Marketing and Sales regarding target markets, customer personas, or sales goals.
Sales may feel that the leads generated by Marketing are of low quality or not sufficiently qualified, leading to inefficiencies and disagreements on lead generation strategies.
Marketing and HR collaborate to develop employer branding strategies to attract and retain top marketing talent.
HR supports Marketing in recruiting and hiring skilled marketers who can execute marketing strategies effectively.
Conflicts may arise if there are disagreements over staffing needs, skill requirements, or compensation packages for marketing roles.
Marketing may feel frustrated if HR fails to attract and retain the desired talent pool or provide adequate training and development opportunities for marketing professionals.
The Marketing department can benefit from collaboration with other departments, but conflicts may occur due to differing priorities, resource allocation issues, communication gaps, or conflicting objectives To reduce these conflicts and promote a successful cross-functional environment, it is essential to enhance communication, foster collaboration, and ensure a shared understanding of organizational goals.
The importance of effective relationships between Marketing and other functional departments in
Group 1: R&D department (Research and Development)
The collaboration between the Marketing and Research and Development (R&D) departments at Masan Consumer is crucial for business success This effective relationship fosters innovation, enhances product development, and ensures that market needs are met efficiently By aligning marketing strategies with R&D insights, the company can create products that resonate with consumers, ultimately driving growth and competitiveness in the market.
Understand market needs: Marketing department is the bridge connecting the company and customers
The Marketing department gathers insights on market needs, preferences, and trends, which are then shared with the R&D department This collaboration enables R&D to gain a deeper understanding of market demands and to create products and services that align with consumer expectations.
The collaboration between the Marketing and R&D departments is crucial for developing products and services that align with customer needs By supplying comprehensive insights into customer requirements, market feedback, and consumer trends, the Marketing Department enables the R&D team to design innovative and appealing offerings.
Speed up the development process: An effective relationship between the Marketing department and the
The R&D department accelerates the development of new products and services by fostering collaboration and information sharing with other departments, leading to a streamlined and efficient development process.
The marketing department plays a crucial role in shaping product strategy by supplying the R&D department with valuable insights about the market, competitors, and customer needs This collaboration enables R&D to develop highly differentiated products that deliver significant value to customers.
A synchronized marketing strategy is crucial for aligning the efforts of the Marketing and R&D departments By leveraging insights from R&D, the Marketing Department can craft strategies that resonate with the product's features and values, ensuring that marketing campaigns effectively reflect the innovations developed by R&D This collaboration fosters a cohesive approach that enhances both marketing effectiveness and product success.
The collaboration between the Marketing and R&D departments at Masan Consumer is crucial for grasping market demands, facilitating product and service development, and accelerating the development process This synergy shapes product strategy and aligns marketing efforts, ultimately driving the company's growth and success.
Group 2: Purchasing and Production department
The effective relationship between Marketing and Procurement and Production in the corporate context of Masan Consumer is of considerable importance Here are the key roles of this relationship:
Understanding customer needs is crucial for businesses, as the marketing department serves as a vital source of information regarding customer requirements A strong collaboration between marketing, procurement, and production ensures that these departments are aligned, enabling them to effectively meet customer demands during the procurement of raw materials and the production process.
The marketing department supplies essential insights on market demand, consumption trends, and customer needs to the Procurement and Production departments This collaboration enables these departments to effectively optimize the production process, including the planning of raw materials, purchasing strategies, manufacturing operations, and cost management.
Effective supplier interactions are essential, as Marketing, Procurement, and Manufacturing work together in selecting and managing suppliers The Marketing Department shares critical information regarding quality standards, delivery timelines, and product value, which aids Procurement and Manufacturing in establishing strong partnerships with suppliers This collaboration ensures a stable supply chain and maintains high product quality.
Cost and Profit Management: An effective relationship between Marketing and Procurement and
Production helps to ensure that procurement and production processes are conducted efficiently, minimizing waste and unnecessary costs necessary This contributes to the company's profit optimization
Synchronize marketing and production strategies: An effective relationship between Marketing and
Procurement and Production play a crucial role in aligning marketing and production strategies The Marketing Department shares insights on market demands and trends with the Procurement and Manufacturing teams, while these departments relay information about production capabilities and resources to support the Marketing Department in developing effective marketing strategies.
The collaboration between the Marketing, Procurement, and Production departments at Masan Consumer is crucial for understanding customer needs, optimizing production processes, managing supplier interactions, and controlling costs.
34 and profits, and synchronize marketing and production strategies The close cooperation and interaction between these two departments contributes to the success and development of the company
The effective relationship between the Marketing department and the Finance & Accounting Department in the Masan Consumer enterprise is of considerable importance Here are the key roles of this relationship:
Effective financial resource management is crucial for a company's success, with the Finance & Accounting Department overseeing the allocation and operation of financial resources A strong collaboration between the Marketing and Finance & Accounting Departments ensures that marketing initiatives are adequately funded while remaining within budgetary limits and aligning with overall profit objectives.
The Marketing Department plays a crucial role in shaping marketing strategy by delivering insights on market needs, customer preferences, and competitive dynamics A strong collaboration between the Marketing and Finance & Accounting Departments ensures that marketing strategies align with the company's financial capabilities The Finance & Accounting Department evaluates the financial viability, feasibility, and risks associated with proposed marketing initiatives, enabling informed decisions about resource allocation.
Measuring marketing effectiveness is crucial, and the Finance & Accounting Department plays a key role in this process A strong collaboration between the Marketing and Finance departments ensures accurate monitoring and evaluation of financial metrics, such as marketing return on investment (ROI) This partnership enables the company to make informed decisions, optimize financial resources, and maximize the value and profitability of its marketing activities.
Financial risk management: The effective relationship between the Marketing department and the Finance