An analysis of marketing strategy to attracts custuomers in growth period in talkin english

ACKNOWLEDGEMENT Firstly, I would like to express my deepest thankfulness to Talkin English Online Learning JSC, for accepting me as an apprentice in the company and creating all conditio

uutvenst ty THANG LONG UNIVERSITY

Supervisor: Ngo Thi Minh Trang, M.A Student’s name: Nguyen Thao Nhi Student’s code: A34695

Major: English language

Hanoi, February 2023

ACKNOWLEDGEMENT

Firstly, I would like to express my deepest thankfulness to Talkin English Online Learning JSC, for accepting me as an apprentice in the company and creating all conditions to help me fulfill all of my tasks during the research about the topic “An

analysis of Marketing strategy to attract customers in growth period in Talkin English”

Besides, I would like to send my special thanks to Ms Tram Nguyen, along with all other employees in Marketing Department, for enthusiastically helping me a lot in providing images and data related to the company

I would like to express my great gratitude to my honorable teacher, Ms Ngo Thi Minh Trang, who supported me by proper guidance, sincere comments and advice, and led me the right way to conduct my graduation paper I am extremely grateful to her for directly supporting and guiding me in this graduation paper

I am grateful to Thang Long University and my respected teachers in English Department for giving me an intensive learning environment that helps me so much in completing this graduation paper

I would like to thank my family and my friends, who have always encouraged and supported me

At last, I want to thank myself for not giving up and for trying my best

Sincerely,

Nguyen Thao Nhi

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STATEMENT FROM CANDIDATE The topic “An analysis of Marketing strategy to attract customers in growth period

in Talkin English” was developed under the guidance of supervisor Ms Ngo Thi Minh Trang at Thang Long University This graduation paper contains no material which has been submitted for examination in any other course or accepted for any other degree or diploma in any University To the best of my knowledge and belief, it contains no material previously published or written by another person, except where due reference is made in the text I hereby declare that this is my independent research work during the course of the graduation paper

(ky và ghi r6,ho tén) (ý và ghi rõ họ tên)

ABSTRACT

The notion of marketing strategy is at the core of the study of strategic marketing and

is essential to the practice of marketing Thanks to the marketing strategies, the brand image

is deeply engraved in the customer's mind, providing accurate and clear information about the services that the unit provides From there, opening up a wider customer reach,

attracting a large number of new potential customers for businesses

This research measure and evaluate the marketing strategies to attract customers to Talkin English Online Learning Joint Stock Company, which is an online education company established in 2020 To answer the question of the study, I collect and analyze the data from fanpage Talkin English Online Learning System of the company, and then decide whether the strategies of the Marketing Department can help the company reach the target customers and raise its profile Generally, the research shows that the marketing plan and marketing activities bring positive impacts which help the company gain profit

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TABLE OF CONTENT LIST OF FIGURES AND TABLES

LIST OF ABBREVIATIONS

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REFERENCES

APPENDICES

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LIST OF FIGURES AND TABLES Table 2.1: Demographic characteristics of target customer of Talkin English Table 2.2: Courses in Talkin English .- -< << «<< << <<

LIST OF ABBREVIATIONS

Association

Positioning

SWOT Strength, Weakness,

Opportunity and Thread

English Language Teaching and Research

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PART 1: INTRODUCTION

1 Rationale of the study

Nowadays, the significant growth of advertising campaigns has spurred changes

in the market Businesses are paying more and more attention to their marketing strategy which plays an important role in their development No matter how big or small enterprises are, they have the same desire to promote their brand and products quickly and effectively Obviously, Marketing can make the customers aware of the products or services and encourages them to make the buying decision Furthermore, a marketing plan, a part of the business plan helps in creating and maintaining demand, relevance, reputation, and competition Without an effective marketing strategy, even if the products and services are of a high standard, it is not effective in attracting customers and is easily overtaken by competitors

In the background of the digital period and covid 19 pandemic, online learning is gaining popularity among learners at all levels In recent years, however, the competition among the English centers is more intense than that used to be because during the last decades, there are so many companies crowded into this area In Hanoi, one of the companies with a high market share is Talkin English During 3 years of operation, Talkin English has more than 1500 students from 15 countries and territories In order

to attract more customers, Talkin English has followed the inbound marketing strategy and the marketing mix (7P) In addition, after 3 months working as a member of the Marketing Department at Talkin English JSC, I have been directly involved in planning and practising the marketing activities, so I realize and understand the benefits they bring to the company Moreover, I would like to propose some solutions to some problems for future marketing activities in order to bring positive impacts to the enterprise Therefore, I chose the topic “An analysis of Marketing strategy to attract customers in growth period in Talkin English” as a topic for the graduation paper.

2 Objectives of the study

The study is expected to provide information about the efficiency of marketing strategy for Talkin English Online Learning Joint Stock Company to attract more customers in order to raise the revenue of the enterprise Hopefully, the findings from this study will then provide insight into the importance of developing a marketing strategy to attract more customers for the company

More specifically, this research is designed to seek answers to the following questions:

- Does the marketing strategy is suitable for the company?

- Does the marketing strategy help promote the product of the company and compete with other competitors in the same field?

The researcher really hopes that this study can truly help the company to realize the strength and weaknesses, to have the right direction and perspective in making

decisions for planning future marketing strategies

3 Scope of the study

The study is about evaluating the marketing strategy to attract more customers in the growth period at Talkin English Because of the limitations of time and knowledge, and the lack of reference material, this study cannot cover the whole groups of target customers as well as measure the effects of all the fanpages and groups of the company across the social network space It is confined to the data of the fanpage named “Talkin English Online Learning System”

4 Methods of the study

4.1 Method

Qualitative was applied to carry out this study It concentrates on smaller but focused samples rather than large random samples The data, figures and pictures were collected from the Meta Business Suite of fanpage “Talkin English Online Learning System” By analyzing these data, the research will provide an in-depth and detailed description of the effectiveness of marketing strategy

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BRTY ERSTTY 4.2 Introduction of Talkin

Under the desire to bring a lot of value to the education industry in particular and society in general, Talkin English Online Learning Joint Stock Company was officially established in May 2020 Founded by Ms Tram Nguyen, who was honor awarded certificates of merit by the US Embassy and the Ministry of Education for her positive contributions to the development of cooperation in the field of English teaching between Vietnam and the United States, the company is a worldwide online learning system for

adults and children

Talkin English Online Learning Joint Stock Company clearly defines their mission

in the statement of the company: “Talkin English provides quality English learning programs that bring long-term effectiveness to adults and children”

With a team of young, dynamic and full of enthusiasm and high-quality staff, the enterprise has researched and developed advanced and useful solutions for businesses

in particular and developed the education industry in general, creating breakthroughs and new trends in modern education Besides, following the mission which is bringing quality learning programs with lasting effects for adults and children and helping Vietnamese confidently communicate in English, Talkin English always puts the quality

of lectures and the satisfaction of the customer first

After nearly 3 years of operation, the enterprise has a strong foothold in the English language teaching market, with a number of students living and working in more than

20 countries and territories In addition, the company also cooperated in teaching and training English for employees of large corporations such as Viettel, ITS and LAS Trading

5 Structure of the study

The study is divided into three chapters The first chapter aims to introduce the statement of the research problem and the research questions in general The second chapter reviews the theoretical framework related to information on the enterprise and theories about marketing, marketing strategy and inbound marketing This chapter also provides the data analysis and describes the implementation and the result of the marketing strategy The third chapter summarizes the themes arisen from the findings.

The chapter ends with a highlight of the limitations of the study and suggestions for

further research

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of the identified market and the profit potential (Kotler, 2012) [9] In 2017, American Marketing Association (AMA) recommended that marketing is the process of

“generating, communicating, delivering, and exchanging services that provide value to customers, clients, partners, and society at large” (AMA, 2017) Later on, Neil A Morgan stated that marketing strategy is “‘a construct that lies at the conceptual heart of the field of strategic marketing and is central to the practice of marketing” (Morgan, 2018) [11]

As can be seen, Marketing strategy refers to the various frameworks, models, and concepts used to develop and implement effective marketing strategies The main goal

of marketing strategy theory is to help companies understand their target market, create value for their customers, and achieve their business objectives [14] Despite the difficulty in establishing definitions of Marketing strategy, there are some the key marketing strategy theories including:

- Segmentation, Targeting and Positioning (STP): This framework helps companies segment their market, identify target customer segments, and position their products and services effectively (Levitt T, 1960s)

- SWOT Analysis: It was developed by Harvard Business School Professor, Humphrey A (1960s-1970s) [5] This tool was used to identify an organization's Strengths, Weaknesses, Opportunities, and Threats in order to develop a comprehensive marketing strategy

- 7Ps of Marketing Mix: This model includes Product, Price, Place (distribution), Promotion, People, Process and Physical evidence, which are the seven key elements of

a marketing mix that must be aligned to achieve marketing objectives

- Outbound Marketing: As known as a traditional marketing or push marketing, it

is characterized by the use of mass-marketing techniques such as advertising, direct mail, telemarketing, and sales promotions to generate leads and promote products or

Services

- Inbound Marketing: This marketing strategy focuses on attracting customers to a company's website, blog, and other online assets through tactics such as content creation, search engine optimization (SEO), social media marketing, and email

marketing

In this study, 7Ps of Marketing Mix and Inbound Marketing were followed and

applied as a spine of marketing activities at Talkin English

1.2 7Ps of Marketing Mix

In 2018, Kim and Park emphasized the importance of branding and brand image

in attracting customers in the language industry They found that companies with strong

brands are more likely to attract customers and generate higher levels of customer

loyalty Additionally, a study by Kim and Lee (2019) found that social media marketing

is an effective tool for attracting customers and building brand awareness

Another research by Helmod M (2022) found that a company's marketing mix is

closely related to elements of a complete marketing plan [7] The 7P Marketing Mix

includes the four traditional elements of the marketing mix: Product, Price, Place and Promotion (McCarthy, 1960), plus three additional elements: People, Process and

Physical Evidence (Boom & Bitner, 1981)

- Product: refers to the goods and services that a business offers to its customers The product should meet the needs and wants of the target market

- Price: is the amount a customer must pay to obtain the product It should be set

to meet the needs of both the business and the customer

- Place: refers to the distribution channels used to get the product to the customer

It includes the physical and online locations where the product is sold

- Promotion: involves the various marketing and communication activities used to create awareness and interest in the product among the target market

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- People: includes the employees and stakeholders involved in the production and delivery of the product The right people can help to create a positive customer experience

- Process: refers to the steps involved in the production, delivery and after-sales support of the product The process should be efficient and effective to meet the needs of the customer

- Physical Evidence: relates to the tangible elements of the product and its packaging, as well as the environment in which it is sold These elements should reflect the brand image and reinforce the customer's experience

1.3 Inbound Marketing

The concept of inbound marketing and outbound marketing were first introduced

by Brian Halligan and Dharmesh Shah in 2005, and it has since evolved into a widely adopted marketing strategy for businesses of all sizes [6]

Outbound marketing, also known as traditional marketing or push marketing, is a marketing strategy that involves actively reaching out to potential customers Outbound marketing is characterized by the use of mass-marketing techniques such as advertising, direct mail, telemarketing, and sales promotions to generate leads and promote products

or services The concept of outbound marketing is not associated with a specific individual or organization, but rather it is a widely recognized marketing approach that has been used for many years The focus of outbound marketing is on promoting a product or service through various channels to as many people as possible, with the hope

of generating leads and sales Outbound marketing can be effective, but it also has some disadvantages such as high costs, low response rates, and the potential to be seen as intrusive by customers

On the other hand, inbound marketing is a customer-centric marketing approach that focuses on attracting, engaging, and delighting customers through relevant and valuable content and experiences The key components of inbound marketing include content creation, search engine optimization (SEO), social media marketing, lead generation, lead nurturing, and analytics

Bezovski (2015) also emphasized that the major meaning behind Inbound Marketing is to attract visitors to a website by creating and distributing useful content, converting those visitors into leads, earning their trust and then turning them into loyal customers [3] Moreover, according to Nguyen Do (2020), Inbound Marketing can also help grow 10 times in the following aspects: The website traffic, the converting of traffic into leads, sales growth, increasing of brand affinity and loyalty

In addition, inbound marketing is often more cost-effective than traditional outbound marketing methods, such as advertising, direct mail, and telemarketing By creating and sharing valuable content, businesses can attract and engage potential customers without having to spend a significant amount of money on advertising or other forms of promotion

1.4 Market Analysis

Before planning and implementing a marketing strategy which is suitable for the enterprise, the Marketing Department need to analyse the market in that they aim to compete Market analysis is an important tool for businesses to understand their market, identify opportunities, monitor the competition, inform decision-making, and support

planning and budgeting This is the process of gathering and evaluating information

about a market for several reasons:

- To understand the market: Market analysis helps businesses understand the size, structure, and competition of the market they operate in This information is crucial

in making informed decisions about product development, pricing, and

distribution

- To identify new opportunities: Market analysis helps businesses identify new

opportunities for growth and expansion This can include identifying untapped

customer segments, new geographic markets, or complementary products and

Services

- To monitor competitors: It helps businesses monitor their competition and understand their strengths and weaknesses This information is valuable in developing strategies to differentiate the business and stay ahead of the competition

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- To inform decision-making: Market analysis provides valuable data and insights that can inform decision-making across all areas of the business, from product development to marketing to financial planning

- To support planning and budgeting: Market analysis helps businesses develop realistic and informed business plans and budgets by providing a clear understanding of market trends and opportunities

The information above is used to inform business decisions, such as product development, pricing, marketing, and distribution strategies The process of analysing the market may involve several steps:

- Defining the market: The first step is to define the market that the business operates in, including the products or services being offered, the geographic area, and the target customer segment

- Collecting and analyzing data: This involves gathering data about the market, including data on market size, growth, trends, and competition This data can be obtained through various sources, such as government reports, industry publications, and market research firms

- Assessing market potential: Based on the collected data, the market potential can

be assessed, including the size of the market and its growth potential

- Identifying trends and opportunities: Market analysis also helps to identify current and emerging trends within the market, as well as new opportunities for growth and expansion

- Understanding the competition: Market analysis provides a comprehensive understanding of the competition within the market, including the strengths and weaknesses of competitors, and the opportunities for differentiation

The goal of market analysis is to provide business leaders with the information they need to make informed decisions about their products, services, and overall strategy, in order to increase their chances of success in a competitive market

Market analysis is a crucial process for any business, as it helps to identify and evaluate the potential market for a product or service The main goal of market analysis

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is to determine the feasibility of a business idea by studying the market trends, competition, consumer behavior, and demand for the product or service The analysis provides valuable insights into the strengths, weaknesses, opportunities, and threats (SWOT) of a business, which can be used to develop effective marketing strategies Market analysis includes several components such as market size, market

segmentation, market trends, customer behavior, competition, and SWOT analysis The

market size refers to the total addressable market for a product or service, which is determined by analyzing the demographic, geographic, and psychographic characteristics of the target market Market segmentation involves dividing the market into smaller groups based on specific criteria such as age, gender, income, and lifestyle

1.5 Competitors of Business

Competitors are other businesses that offer similar products or services and compete for the same customers Enterprises need to determine their competitors in the

market for several reasons:

- To understand the market: By analyzing competitors, enterprises can understand

the market structure and consumer preferences

- To benchmark performance: Enterprises can use competitor analysis to measure their own performance against the competition and identify areas for improvement

- To identify opportunities: By analyzing competitors, enterprises can identify opportunities for growth and expansion

- To develop strategies: Enterprises can use competitor analysis to inform their

marketing and business strategies, helping them to remain competitive and achieve

their goals

- To monitor changes: Competitor analysis allows enterprises to monitor changes

in the market, including new entrants and changes in consumer preferences, which

can help them respond quickly and effectively

Determining competitors is essential for enterprises to understand their position in the market and to develop effective strategies for growth and success There are some

of the most types of competitors in business:

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- Traditional Competitors: Traditional competitors are businesses that offer the same or similar products or services in the same market as the focal company They are the most direct competitors and compete on factors such as price, quality, and marketing

- Substitute Competitors: They offer products or services that can substitute for the focal company's offerings For example, a company that produces desktop computers may compete with laptops and tablets as substitute products

- Complementary Competitors: They offer products or services that complement the focal company's offerings For example, a company that produces software for project management may partner with a company that produces hardware such as laptops or tablets

- New Entrants: They are companies that are new to the market and have the potential to disrupt the industry They may offer innovative products or services or use new business models that challenge existing competitors

- Suppliers: Suppliers can be considered competitors when they offer products or services that the focal company also offers This can create a conflict of interest and affect the profitability of both businesses

- Customers: They can also be considered competitors in some cases For example,

if a customer decides to produce a product or service themselves rather than purchasing from the focal company, they become a competitor

According to HubSpot (2022), all businesses have competition, and this is key for innovating products, services, and marketing strategies [8, 11] Three types of competitors in business often highlight the importance of conducting a thorough competitor analysis

- Direct Competitors: These are the companies that offer similar products or services to the same target market as the business They are the main competitors, and the business must be aware of their pricing, marketing, and product strategies

- Indirect Competitors: These are the companies that offer products or services that could be used as a substitute for the business's offering For example, a restaurant

1]

offering healthy food may have indirect competition from a grocery store that sells similar products

- Potential Competitors: These are companies that have the potential to enter the market and become direct competitors in the future It is important for a business

to monitor potential competitors to be prepared for any changes in the market

Chapter Two: Data Analysis and Findings

2.1 Market Analysis

Market analysis explores the various approaches, techniques, and theories used in the study of market trends and consumer behavior Market analysis is a critical component of any business strategy, as it provides valuable insights into the needs and preferences of target customers, as well as the competition, the market environment, and the overall industry trends The enterprise needs to conduct market analysis in order to

understand the market (the size, the structure and the competitor), identify new

opportunities for growth and expansion, and support planning and budgeting

In this study, there are three criteria which need to be focused and determined They are the target customers, the competitors and the market trends

Customer portrait analysis involves understanding the needs, preferences, and

buying habits of customers This information is based on identifying the demographic

of the target audience

Competition analysis involves analyzing the strengths and weaknesses of

competitors, identifying their marketing strategies, and assessing their market share This information is crucial for developing a unique value proposition that differentiates

a business from its competitors

Market trends refer to the changes in the market over time, such as the emergence

of new technologies, consumer preferences, and economic factors Understanding market trends is crucial for developing effective marketing strategies that can adapt to the changing market conditions

2.1.1 Identify the target customers

As an education company in the field of online teaching English, in which Talkin English mainly focuses on teaching communicative English to adults and children

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| THANG LONG

Therefore, right from the beginning of entering the market, the company has clearly defined its customer profile

The target customer of Talkin English is likely to be individuals who are interested

in improving their English language skills This could include people who want to learn English for personal or professional reasons, such as to travel, communicate with native English speakers, or advance their careers

The target customer could also include non-native English-speaking students who are looking to improve their English language proficiency for academic purposes Additionally, Talkin English may also target corporations and organizations that provide English language training for their employees

In terms of demographic characteristics, the target customer of Talkin English JSC has the following characteristics:

Table 2.1: Demographic characteristics of target customer of Talkin English

Other information:

- Spending most of the time at work, so these people often do not have time to

attend intensive classes

- Having smart electronic devices (smartphones, laptops), and having stable network connection

In addition, the demands of customers who looking to the company's services include:

- Group 1: Customers who need to learn to communicate They make up the majority of the customer file because they are adults, have stable jobs and need English

to communicate and serve work

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- Group 2: Customers who register services for others It means that they are married, have children and want to expose their kids to English from an early age with the desire to help children form communication reflexes, as well as confidently use English

- Group 3: Customers who need exam preparation: This object is not much, only about 10-15% of the customer file They have the demand for studying and preparing for exams like TOEIC, IELTS, etc Most of them require exam preparation in a short period and they are willing to pay a higher fee than the common ground for 1-on-1

lessons with teachers

- Group 4: Customers who are corporators

The marketing strategy that was designed by the Marketing Department of Talkin

English is aimed to attract the “Group 1” and “Group 2” that was mentioned above

These two groups will be the main objects that bring about 50-60% of the revenue for

the business

2.1.2 Identify the competitors

The business has to understand the competitors in the market, in order to understand the market structure and consumer preferences, benchmark performance, identify opportunities, develop strategies and monitor changes Therefore, Marketing Department of Talkin English JSC has researched and observed centers in the online English teaching market in Vietnam, thereby identifying three types of competitors of

the company:

- Direct competitors: They have the same services (teaching online courses for communicating demand), the same customer portrait and the same segmentation in the

market For example: Topica Native

- Indirect competitors: They also have the same services with the enterprise

However, the target customer and segmentation are different For example: Wall Street

English and Lapo English

- Potential competitors: They are many companies that only provide offline

teaching services such as Langmaster and Pasal, but they might turn their business type

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