INTRODUCTION
Background and Motivation
In today's rapidly evolving printing technology landscape, the number of enterprises in the market is increasing significantly, leading to larger-scale operations and a variety of business models This growth has intensified competition among companies, driving innovation and advancements in the industry.
In order to exist and develop, each enterprise must establish a firm position in the market, which requires suitable business strategies, especially the marketing ones
Marketing is a crucial activity for businesses, influencing every stage from sourcing materials to production and consumption It not only drives consumer demand but also enhances the overall value of the enterprise.
X Newspaper Printing Joint Stock Company is a reputable enterprise in X province, gaining recognition across the country The company's trademark has successfully attracted customers both locally and nationally due to effective management practices To achieve sustainable, long-term growth and establish a strong nationwide brand, it is essential to develop a comprehensive marketing strategy focused on enhancing the company's value and upgrading its trademark.
For such reasons, I chose the topic: “How to improve effectiveness of marketing strategy in X Newspaper Printing Joint Stock Company” for my thesis.
Research Objectives
- To systematize theoretical bases and actual situation of marketing strategy in X Newspaper Printing JSC
- To analyze factors affecting Marketing strategy of the Company recently
- To poll the opinion of customers basing on survey result, to evaluate features and trends of the market in near future
- To propose solutions for enhancing effect of Marketing strategy in the Company
Specific targets of the research:
To identify issues and underlying causes of the current marketing strategies within the company, it is essential to analyze the effectiveness of product, pricing, distribution, and promotional tactics This evaluation should be grounded in established marketing strategy theories and reflect the actual performance of these strategies in practice.
The article discusses key factors influencing a company's marketing strategy, as identified through expert interviews with directors of printing companies and leaders in the Printing Association A questionnaire was developed to assess the significance of various factors, ultimately highlighting five critical independent variables: product quality, pricing, company trademark, employee customer orientation, and trading accessibility.
+ To form a questionnaire for customer survey then evaluate actual situation of marketing strategy in the Company through 5 independent variables.
Research Subject and Scope
Subject of this research is the actual situation of Marketing strategy in XNewspaper Printing JSC in 5 recent years
Research Methods
This article discusses the data collection methods employed by X Newspaper Printing Joint Stock Company, utilizing both primary and secondary data Primary data was gathered through questionnaires during an actual investigation, while secondary data was sourced from provincial departments, the General Department of Statistics, the X Department of Statistics, as well as books, newspapers, magazines, and online resources The collected information was analyzed by integrating theoretical frameworks with practical insights, and the survey results were processed using SPSS software version 16.0.
The author utilizes SPSS software's descriptive statistical tools to analyze and evaluate the factors influencing the marketing strategy of X Newspaper Printing JSC, identifying key causes and proposing solutions to enhance the effectiveness of its marketing mix strategy.
Scientific and practical meanings of the topic
To improve the capacity on scientific research, to supplement theoretical and practical knowledge for the author of this research.
Result of research topic will be the basis for X Newspaper Printing JSC to consult and apply during improvement of effect and completion ofMarketing strategy.
Research Limitations
- There may be some certain errors during primary data analysis due to limited number of questionnaires and law of large number.
- Because marketing activities of X Newspaper Printing Joint Stock Company are chosen as the sample for this research, all solutions given here can be applied for the Company only.
This thesis examines the current situation and proposes solutions grounded in marketing theory, acknowledging that it may present a one-sided and limited perspective Despite this, the author has incorporated insights from various theories related to corporate finance and human resource management to enrich the analysis.
Structure of the thesis
This thesis consists of 5 chapters:
Chapter IV: Result of research and discussionChapter V: Conclusion and Solution
LITERATURE REVIEW
Definition and importance of Marketing strategy
The term "Marketing" originated in the early 20th century in the United States and was officially included in English dictionaries in 1944 Structurally, "marketing" is derived from the word "market," combined with a suffix.
“ing” which means the movement and ongoing process of the market.
So how should Marketing be understood?
- According to definition of I Ansoff – a professional marketing researcher of the United Nation:
Marketing is the science of operating all business activities from phases of production to consumption basing on variable demand of the market or, in other words, market-oriented.
- According to America Marketing Association (AMA) in 1960:
Marketing means all the business activities directing flows of goods and services provided by suppliers to the consumers and users.
- According to UK Marketing Institute:
Marketing involves the systematic organization and management of business activities, focusing on understanding consumer purchasing power and transforming it into actual demand for specific products This process encompasses everything from manufacturing to delivering products to end-users, ultimately ensuring that the company achieves its desired profit margins.
- According to Malaysia Management Academy:
Marketing is the art of combining, utilizing essential resources to discover, create, satisfy and raise the demand of customers then generate profit.
- According to John H.Crighton (Australia):
Marketing is the processing supplying accurate products, channel or flow of goods in accurate time and at accurate position.
Marketing encompasses a comprehensive system of business activities focused on planning, pricing, expanding, and distributing goods and services to meet the needs and desires of both current and potential customers.
- According to Peter Drucker (US):
Marketing means all business works in the viewpoint of consumers.
Marketing is a business activity that satisfies demand and desire of customers by exchanging method.
Marketing is a strategic process that enables organizations and individuals to fulfill their needs and desires by creating and exchanging products and values with others, facilitating economic and social management.
Marketing is a familiar, open-minded smile of entrepreneurs to their customers or consumers.
Marketing is finding the demands and satisfying them in the best way, all business activities must base on the market.
- Marketing is an activity aimed to better satisfy the demands of consumers.
Marketing is an ongoing process that begins with market research and identifying customer demand, ultimately leading to the development of products that meet those needs This cyclical approach emphasizes the importance of continually analyzing market trends and customer preferences to enhance satisfaction and improve offerings over time.
Marketing encompasses a range of methods and solutions throughout the business process, beginning with market research and extending to production planning, product assessment, distribution channel establishment, and promotional activities These elements work together to meet the demands identified during market research, ultimately supporting business activities.
A marketing strategy encompasses a comprehensive set of policies and methods designed to guide production and business activities towards achieving key objectives, such as brand recognition and market share To ensure success, businesses must prioritize marketing efforts that adapt to market dynamics and the needs of potential customers.
As market competition intensifies, businesses must not only respond to market dynamics but also strategically plan their marketing efforts based on experience, intelligence, and the expertise of their teams.
A marketing strategy outlines both the immediate and long-term direction of a business, enabling administrators to make informed decisions on policy implementation and marketing techniques It highlights significant opportunities and potential challenges within the market, allowing businesses to forecast effectively and create conditions that capitalize on these opportunities while mitigating challenges.
A well-defined marketing strategy enables administrators to boost revenue and reduce expenses, leading to optimal business outcomes It also provides a framework for enhancing market presence, fostering partnerships with other businesses, and mitigating competitive threats.
Targets in Marketing strategy of the enterprise
Businesses investing and trading in the market aim to maximize profits by establishing clear targets that facilitate strategic planning and execution The primary goals of a marketing strategy include profit generation, enhancing market position and power, ensuring business safety, providing income for employees, and protecting the ecological environment.
Profit serves as a crucial objective for production and business operations, representing the ultimate goal for numerous enterprises It enables companies to reinvest, scale their operations, and fulfill their corporate income tax obligations along with other state payments.
To reach their objectives, businesses need to implement adaptive strategies and continuously innovate in technology and techniques, while also enhancing the management of their production and operations to align with their capabilities and market demands.
2.2.2 Target on generating position and power in business
To enhance market share and increase profitability, businesses must focus on selling more products, reaching diverse market segments, and meeting growing consumer demand This strategy enables companies to accumulate and concentrate capital more efficiently, ultimately fostering the development of new positions and power within the market.
Safety is paramount for enterprises, as it directly correlates with success Despite thorough planning and strategic calculations, risks in a market economy are inevitable Therefore, implementing effective measures to prevent and mitigate potential risks is essential for sustainable business growth.
Administrator must ensure safety for the enterprise, and take risks as well.
To be successful in leading work, he must know how to take the chance, be courageous and sensitive to all issues.
2.2.4 Ensuring work and income for the labours
As a leader in the enterprise, an administrator prioritizes the interests of all members, ensuring fair compensation aligned with their contributions Additionally, it is essential for the administrator to support, motivate, and promote employees while fostering a friendly and collaborative work environment.
In today's world, environmental pollution has become a critical issue, primarily caused by hazardous waste from industrial plants, along with noise, dust, and smoke These pollutants pose significant threats to both the environment and human health It is essential for businesses to actively manage and mitigate pollution to safeguard the environment, which in turn protects their own interests and sustainability.
Factors of business environment that affect Marketing strategy
The business environment encompasses various factors that can positively or negatively impact an enterprise's production and activities Any changes within this environment directly influence business operations, making it crucial for administrators to thoroughly understand these factors By accurately analyzing both the external (macro and sectorial) and internal environments, businesses can develop effective strategies and tactics tailored to their capabilities.
[Figure 2-1] Factors of business environment that affect Marketing strategy
Công nghệ Môi tr Quốc tế
The macro-environment encompasses six key factors that influence businesses: the economic factor, which includes gross national income, GDP, bank loan interest rates, and inflation; the technological factor, focusing on advancements in science and technology; the cultural social factor, reflecting societal values, aesthetics, lifestyles, customs, and education levels; the natural and demographic factor, addressing climate change, ecological conditions, natural resources, and population dynamics; the political and legal factor, which involves laws and state policies; and the international environment factor, covering the legal, economic, social, cultural, and political aspects of countries where businesses aim to operate.
In developing a competitive strategy, it is crucial to evaluate the enterprise's position within its operational environment The strategy planner's mission involves analyzing competitive forces in the sector to identify potential opportunities and risks M Porter’s sectorial competition model identifies five key forces that influence competition: existing competitors, potential entrants, suppliers, alternative products and services, and buyer pressure.
[Figure 2-1] Model of 5 competitive forces by M.Porter
To effectively assess the internal environment of a business, it is essential to evaluate key factors such as finance and accounting, technical expertise, staffing, organizational structure, and management systems These elements play a crucial role in determining the strengths and weaknesses of the enterprise, providing insights into its operational efficiency and overall performance.
Contents of marketing strategy
Pressure of supplier Enterprise and current competitors
A product encompasses anything that can be introduced to the market to capture interest, drive purchases, facilitate use, or fulfill a demand or desire This broad definition includes objects, services, individuals, locations, organizations, and even concepts.
A product represents a compilation of interests sought by consumers, encompassing essential demands and prioritized desires that must be fulfilled These demands and desires serve as critical criteria for buyers when making purchasing decisions.
Products can be defined in three interconnected tiers: normal product, expected product, and outstanding product The normal product represents the basic concept, while the expected product addresses consumers' desires regarding its functionality and usefulness Ultimately, an outstanding product goes beyond these expectations, aiming to deliver exceptional value and satisfaction to customers.
A well-defined product strategy is essential for any enterprise, serving as the cornerstone of its overall business strategy It acts as a competitive advantage in the marketplace, enabling companies to effectively direct their investments in research and product design By aligning with a strong product strategy, businesses can successfully execute their marketing objectives and achieve their overarching goals.
A robust product strategy is essential for aligning new product development with the overarching business plan and marketing strategy for existing products Key factors to consider in formulating this strategy include market trends, customer needs, competitive analysis, and resource allocation By addressing these elements, businesses can effectively position their products for success in the marketplace.
Effective marketing research goes beyond understanding customer needs in terms of quantity and payment capabilities; it also involves identifying the quality levels that will best satisfy customers Since customer quality requirements are limitless, companies must analyze the quality of competing products to establish appropriate quality benchmarks This research is essential for guiding design decisions and implementing quality management throughout the manufacturing process.
+ According to Walte.A Shewart – an American manager: Product quality in industrial production is a collection of features of the product which reflect its use value.
Producers define product quality as the adherence to established economic and technical standards They create these standards, manufacture products accordingly, and utilize statistical tools to identify unsuitable criteria However, product quality often lags behind customer demand, which is constantly evolving This dynamic necessitates that managers stay attuned to shifts in the market to ensure that product quality aligns with customer expectations.
+ Definition of quality originated from consumers: quality is the suitability with requirements and purposes of consumers.
+ According to Croby: Quality if the suitability with certain requirements or features.
Quality encompasses the technical, technological, and operational attributes of a product, ensuring it meets consumer demands while aligning with their purchasing power.
For example: For book and newspaper printing company: quality is well presented and diverse model, good quality of ink, clear, sharp colours of the product…
- Brand and package of product:
Brand selection for product is very important to ensure success of product development Brand selection must satisfy following minimal requirements: + Containing the intention on interest of the product
+ Containing the intention on location
+ Containing the intention on quality
+ Brand name must be easy to pronounce and remember
+ Must not be coincident or similar to other enterprises’ brands
+ Suitable for manners and customs of target market.
Product package must perform 4 functions simultaneously: maintaining and selling the product, presenting information about the product, ensuring aesthetic properties, attraction of the product to customers and commercial function.
Suggesting something about features of the product (interest, use value…). + Easy to pronounce, spell and remember.
+ Easy to discriminate against other brands.
+ Adapting product in order to be added to existing products of the enterprise
+ Complying legal regulations in order to be registered with competent agencies (Fundamentals of Marketing - McGraw-Hills)
- Which factors should marketers take into account while considering decisions on product package?
Packaging plays a crucial role in protecting products, enhancing convenience, supporting sales, and ensuring cost-effectiveness The selection of packaging is essential for defining, describing, and promoting a product effectively Therefore, these elements should be integrated into the product strategy to meet the demands of target customers.
Most companies offer multiple products rather than a single item, as indicated by the product lifecycle model, which highlights the trend of brand expansion and product line extension during growth phases Consequently, companies typically maintain several product lines and a robust brand presence Effective management of these product lines is crucial for the sustainability and growth of the business, and various strategies can be employed to achieve this goal.
- Full product line in comparison to limited one:
A full product line strategy involves offering a wide range of products that vary in quantity and quality, while a limited product line strategy focuses on a curated selection of specific products.
A full product line strategy offers greater flexibility in responding to market demands, but it comes with limitations; extending too many product lines may result in diminished attention for each individual offering.
A product filling strategy focuses on identifying and developing offerings that target untapped market segments, which competitors may overlook or consumers may not yet recognize By integrating these new products with existing ones, businesses can enhance sales and achieve a satisfactory return on investment.
- Product and brand expansion strategy
Product expansion means creating new differences from initial products, different dimension or new innovation… Product expansion strategy represents saturation stage rather than product growth stage.
Brand expansion means using brand of a product for another one Brand expansion is most effective when new products have close relationship with old ones in consumers’ mind.
Brand or product expansion offers two significant advantages: lower costs for product introduction, as consumer education is minimized, and more effective advertising due to heightened brand recognition Additionally, the risks associated with launching a new product are mitigated when the brand image is already well-established.
A product stretching strategy is essential for businesses operating in segmented markets, where consumer preferences are often divided by price and quality To attract a broader customer base, companies frequently implement stretching techniques to cater to both high and low-quality segments This approach enables businesses to effectively expand their reach and enhance market presence.
Brand of the company
Brand is the collection of customers’ feeling about a company with all aspects: brand identities, brand values, brand attributes, (brand personality). Brand shows trust and safety.
Brand is established over time through following interactions:
- Experience on product, service: experience of customers is what they feel after buying a product to use, or after using a service.
- Interaction, contact with employees: Feeling of customers about a brand is also established from remaining after contacting with employee, representative of the brand
- Marketing activities are communications: marketing activities are actively performed by the brand in order to impact, or create the feeling of customers, positive feelings about it.
In evaluating the marketing strategy of X Newspaper Printing JSC, I have identified five key factors: product quality, company brand, employee customer orientation, and accessibility in trading These independent variables were selected after consulting with experts in the field.
RESEARCH METHODOLOGY
Research process
To develop an effective research process for the topic, the author must first examine relevant documents related to marketing activities in the printing industry This initial step lays the groundwork for constructing a comprehensive research strategy.
- Defining motivation of the research
- Defining target of the research
- Briefly describing the documents relating to research topic
- Designing questionnaire (Total number of questionnaire:N > m*5).
Research process may be presented in following figure:
Defining motivation of the research
Concluding and proposing solutions Advice fromexpert –questionnaire onimportance answered by
To create effective research questions and accurate summary documents, it is essential to survey customers, gather opinions from relevant stakeholders, and obtain feedback on the research topics.
Research Hypotheses and Model
Hypothesis 1: Product quality directly affects the performance marketing strategy of X Newspapers Printing Joint Stock Company.
Hypothesis 2: Price directly affects the performance marketing strategy of
X Newspapers Printing Joint Stock Company
Hypothesis 3 : Company brand directly affects the performance marketing strategy of X Newspapers Printing Joint Stock Company.
Hypothesis 4 : Customer orientation of employees directly affects the performance marketing strategy of X Newspapers Printing Joint Stock Company
Hypothesis 5: Accessibility trading directly affects the performance marketing strategy of X Newspapers Printing Joint Stock Company.
Survey Methods
The thesis investigates the customers of X Newspaper Printing JSC, focusing on the marketing strategies employed to enhance their capabilities Chapter 2 presents a research database, with a questionnaire specifically designed to align with the core research objectives of the study (see Appendix 1).
- First content: studying and selecting object of the investigation
- Second content: author uses questions with measurement scale of 5 of Rensis Likert to study the ability of performing marketing strategy of the company.
Since May 8, 2013, the Company distributed 270 questionnaires to customers, achieving a collection rate of 95.18% with 257 responses received after 15 days Out of these, 7 questionnaires were deemed invalid due to unanswered questions, resulting in a total of 250 valid questionnaires available for analysis.
Questionnaire Development
Data collection employs a 5-point measurement scale for questions, which will subsequently be refined through expert interviews These experts will assess the questions for accuracy, structure, and overall format.
After collecting opinions from the experts, questions will be adjusted, supplemented and hen primary questions are formed They are used for primary investigation on customers of the Company.
This article investigates the factors influencing the marketing strategy of X Newspaper Printing JSC by examining customer perceptions of product quality and employee interactions Through this research, insights into customer opinions and employee attitudes will be gathered to enhance the overall marketing approach.
To assess respondents' viewpoints, researchers often utilize closed questions, providing answer choices that reflect attitudes such as "totally agree" to "totally disagree." The questionnaire was divided into two sections: Part I featured seven demographic questions, while Part II comprised 28 survey questions Responses were measured using a 5-point Likert scale, ranging from '1' (Strongly disagree) to '5' (Strongly agree) The study examined five independent variables—Product Quality, Product Price, Company Brand, Employee Customer Orientation, and Accessibility Trading—and one dependent variable, Marketing Strategy Performance.
Overall, the marketing of X printing is successful
Overall, the marketing of X printing is effective
Overall, the marketing of X printing is well-organized
1 Product models of the Company are beautiful.
2 Product models of the Company are diversified.
3 Product colors of the Company are sharp and clear
4 Products of the Company are packed beautifully and fastened.
5 Product quality of the Company is very stable.
6 Product quality of the Company is the best compared to one of other companies in X.
7 Product price of the Company is reasonable compared to the same kind of products of competitors.
8 Product price of the Company is suitable to product quality.
9 Product price of the Company is reasonable in the market
10 Product price of the Company is high
12 When I want to print, I will order in the Company.
13 The Company has system of the best machines and equipment in X.
14 The Company is prestigious in the market
15 The Company is in front of the competition in X market.
16 Staff attitude in the Company to customers is friendly and warm.
17 Staff in the Company has good profession skills.
18 Staff in the Company catch customers’ ideas very quickly.
19 During transactions, staff in the Company deal with customers’ problems quickly.
20 During transactions, staff in the Company deal with customers’ problems exactly.
21 Team of salespeople in the Company create prestige with customers.
22 The company has convenient location for signing contracts.
23 The company has appropriate location for delivering and receiving goods.
24 I can easily find out the company’s trading location.
25 I am satisfied with the company’s trading location.
Research Methods
The research employed a quantitative methodology that combined direct and mail surveys with existing data from previous studies and customer feedback Surveys were distributed to the company's customers, while secondary data were gathered from relevant academic sources, including articles, journals, and books This approach is common in both natural and social sciences, facilitating the exploration of various educational aspects In business research, quantitative methods are primarily utilized to assess consumer behaviors, knowledge, opinions, and attitudes The key research techniques applied in this study included descriptive statistics, correlation, and multiple regression analysis.
DATA ANALYSIS AND FINDINGS .- 43 - 4.1 The status of marketing strategy in X Newspaper Printing Joint Stock
Introduction
- Company name: Cong ty Co phan In bao X
- International Name: X Newspaper Printing Joint Stock Company
+ Printing all kinds of books, newspapers, magazines, labels, posters and other cultural products.
+ Other services related to printing
+ Import and export printing materials, paper and paper package.
X Newspaper Printing JSC originated from X Newspaper Printing House, established by a decision from the Chairman of the People’s Committee of X Province on June It was officially transformed into X Newspaper Printing JSC through Decision No ./QD-UBND dated October by the Chairman of the People's Committee of X Province.
After 25 years of formation and development, starting from a small printing workshop, X Newspaper Printing JSC now has thrived with modern
AFTER PRINTING WORKSHOP DESIGN – PUBLISH PRINTING WORKSHOP FINISHING WORKSHOP MECHANICAL WORKSHOP
The Accounting and Finance division of NH Technique is supported by advanced technology and skilled workers, ensuring efficient operations The company's market reach extends beyond provincial boundaries, contributing to the growing brand recognition of X Newspaper Printing.
The diagram of organizational structure of the Company
[Figure 4-1] The model of organization of X Newspaper Printing Joint Stock
Business results of the Company over the last 5 years
[Table 4-1] The business results of the Company for the last 5 years
Target Unit 2008 2009 2010 2011 2012 First 6 months of 2013
From 2008 to 2012, the Company experienced significant growth in production and business results However, since 2012, both revenue and profit have shown a declining trend, with the first six months of recent data indicating unsatisfactory performance This decline mirrors the challenges faced by enterprises across the country amid the ongoing international economic downturn.
The status of the marketing strategy in X Newspaper Printing
X Newspaper Printing JSC recognizes the critical role of product quality in its marketing strategy, emphasizing the need to meet customer demands The company has achieved the globally recognized ISO 9001-2008 certification for its quality management system Aiming to be the leader in quality within the X market and the North Central region, X Newspaper Printing continuously invests in modern machinery Additionally, its Design division employees participate in advanced training to enhance design quality, while technicians receive ongoing training to operate the latest technology effectively.
The price of products by X Newspaper Printing JSC is currently regulated on the basis of:
- The level of competition in the market
- The target of increasing market share.
Depending on time and customers, the Company applies different price policies.
+ For the customs requiring the hi-tech, highly artistic products with good design and specific component materials, the Company applies the policy of
“scum removal” price because currently no company can meet this demand (the machine and technology are limited).
+ For customers requiring normal products, the Company will apply the policy of penetration price to compete with other companies.
The company employs a direct distribution policy and prioritizes business marketing as a key factor in its development strategy, focusing on human investment and cost management With a team of experienced sales professionals, the company has established an effective and sustainable working environment through strategic organization and layout, enabling it to meet customer demands efficiently.
To establish itself as the leading brand in the X market and North Central region, the company prioritizes brand awareness and marketing efforts It actively engages in advertising through various channels, including press, websites, radio, local television, and participation in trade fairs and exhibitions Additionally, the company enhances its visibility by producing brochures and catalogs, while its logo and name are prominently displayed on product packaging and the transport fleet.
- The activity of sales promotion:
Each year, the Company hosts Customer meetings to engage with clients and the public, gaining insights into their needs while also gathering information about participation in trade fairs and exhibitions.
The company prioritizes enhancing its image and credibility through active engagement in propaganda efforts, participating in poverty alleviation and children's sponsorship initiatives in X province Additionally, it values employee welfare; however, there are concerns regarding the performance of marketing staff, who have not fully grasped or executed the essential aspects of their marketing responsibilities.
* A general assessment of the current marketing policies of the company
X Newspaper Printing JSC currently employs traditional marketing strategies, with decisions primarily driven by production and business philosophy Product samples are selected based on the manufacturer's subjective perceptions, while pricing decisions focus on immediate advantages and costs without considering long-term pricing strategies Distribution is conducted directly to customers, and the company's business strategy is formulated around its equipment capacity, technology, and cost advantages.
Vietnam's accession to the World Trade Organization marks a significant step in its globalization journey, necessitating a shift in traditional marketing management approaches to enhance competitive advantage Companies must reevaluate their business strategies, placing a strong emphasis on marketing that aligns with their unique strengths and weaknesses while capitalizing on opportunities presented by global economic integration Additionally, it is crucial to address potential risks in this evolving landscape A customer-centric marketing policy should prioritize understanding consumer demands before product development, ensuring that all company functions are aligned to meet those needs effectively.
Before conducting the analysis, the author entries data from Excel File intoSPSS and checks, filters and labels the observed items.
The Descriptive analysis of customer by gender
[Table 4-2] The customer classification by gender
[Figure 4-2] The chart of customer classification by gender
Through survey data, the percentage of male customers accounts for 64.4% while female customer accounts for 35.6% Therefore, the marketing strategy needs to focus on the exploitation of male behavior.
Descriptive analysis of customers by age
[Table 4-3] The customer classification by age
[Figure 4-3] The chart of customer classification by age
The analysis shows that the customers aged (31-40) accounts for the highest percentage (44.4%), followed by the group (21-20) 25.2% and the group (41-50) 20.8%, the group under 20 (5.6%) and finally the group (51-
The company tailors its products to meet the expectations of its customers, who typically hold senior positions and possess significant experience This approach ensures that the offerings align with high standards of fine art and resonate with the values and ideas of the clientele.
Descriptive analysis of customers by qualifications
[Table 4-4] Customer classification by qualifications
Valid below high school 5 2.0 2.0 2.0 graduate high school 59 23.6 23.6 25.6 graduate university 166 66.4 66.4 92.0 over university 20 8.0 8.0 100.0
[Figure 4-4] The chart of customer classification by qualifications
Data analysis reveals that university graduates constitute the majority of customers at 64.4%, while high school graduates represent only 2% This trend is expected, as the Company primarily engages with businesses, agencies, departments, and media organizations, whose representatives typically possess higher qualifications.
Descriptive analysis of customers by income
[Table 4-5] Customer classification by income
[Figure 4-5] The chart of customer classification by income
Analysis reveals that customers earning between 6 to 8.9 million account for the largest share at 48%, followed by those earning 9 to 12 million at 18%, 3 to 5.9 million at 16%, under 3 million at 10%, and over 12 million at 8% This data indicates that individuals aged 31 to 40 with university degrees typically have incomes ranging from 6 to 9 million.
Descriptive analysis of customers by workplace
[Table 4-6] The customer classification by workplace
The analysis of customer demographics reveals that 62.8% of the company's clients are located in X province, followed by 22.8% in the northern market, 6.8% in Hanoi, and 7.6% in other regions This distribution highlights the dominance of X province, where customers benefit from convenient travel and transaction processes Additionally, the presence of advanced printing facilities in major cities like Hanoi and Ho Chi Minh City poses competitive challenges in those markets.
Descriptive analysis of customers by transaction number
[Table 4-7] The customer classification by transaction number
The customer classification chart indicates that 67.2% of customers have made more than five transactions, reflecting a strong base of loyal, traditional customers In contrast, only 2.8% of customers have made a single transaction, while those with two to three transactions account for 9.6%, and customers with four to five transactions make up 20.4% This data highlights the company's ability to maintain a dedicated customer base.
The descriptive statistical analysis of customers by forms of
[Table 4-8] The customer classification by forms of information access
[Figure 4-8] The chart of customer classification by forms of information access
The data reveals that 44% of customers are referred to the company by friends and colleagues, making this the most significant source of new clients Following this, mass media contributes 20.4%, while self-understanding accounts for 20.8%, and other methods represent 14.8% This suggests that the company should prioritize its marketing efforts on enhancing communication strategies to leverage these referral channels effectively.
Overall descriptive statistical analysis of assessment of the
[Table 4-9] The overall descriptive statistics of the company’s business strategy
N Minimum Maximum Mean Std Deviation marketing strategy in the company is successful 250 1 5 3.76 761 marketing strategy in the company is effective 250 1 5 3.72 794 marketing strategy in the company is well organized 250 1 5 3.31 939
Through the analysis, customers agree that the business strategy of theCompany is successful and effective with a mean average of 3.76 and 3.72 respectively Organizational methods also achieve above average level(3.31).
Descriptive statistical analysis of the product quality criteria
[Table 4-10] The descriptive statistics of the product quality criteria
N Minimum Maximum Mean Std Deviation
3 Product colors are sharp and clear 250 1 5 2.93 946
4 Products are packed beautifully and fastened 250 1 5 2.75 980
5 Product quality is very stable 250 1 5 3.19 847
6 Product quality is the best in X 250 1 5 3.65 882
Analysis reveals that customers perceive the company's products as having superior quality (mean = 3.65) and appealing design (mean = 3.7) within the X market However, there is a notable concern regarding the lack of product diversification (mean = 2.69) and unattractive packaging (mean = 2.75) This feedback aligns with the descriptive statistics indicating a significant percentage of customer agreement in X.
The descriptive analysis of the Company’s price criteria
[Table 4-11] The descriptive statistics of the Company’s price criteria
N Minimum Maximum Mean Std Deviation
7 Product price is reasonable compared to the same kind of products of competitors.
8 Product price is suitable to product quality 250 1 5 3.48 992
Company is reasonable in the market
In 5 scale reflects customer criteria are agreed, the average mean values ranged from 3.49 to 3.87 However, the situation has not reached levels high, so in its business strategy, the company also needs to have many solutions to enhance your brand more.
Descriptive statistical analysis of the brand name criteria
[Table 4-12] The descriptive statistics of the brand name criteria
12 When I want to print, I will order in the Company 250 1 5 3.53 799
13 The Company has system of the best machines and equipment in X
14 The Company is prestigious in the market 250 1 5 3.64 736
15.The Company is in front of the competition in X market
In this five criteria scale, all of customers agree, the average valu is from 3,
49 to 3,87 However, the level of agreement is not high, thus the business strategy of the company must have solutions to improve its brand name.
Descriptive statistical analysis of customer orientations of the Company’s employees
[Table 4-13] Descriptive statistics of the employee’s customer orientation
N Minimum Maximum Mean Std Deviation
16 Staff attitude in the Company to customers is friendly and warm 250 1 5 4.25 670
17 Staff in the Company has good profession skills 250 1 5 3.76 920
18 Staff in the Company catch customers’ ideas very quickly 250 1 5 3.44 791
19 Staff in the Company deal with customers’ problems quickly 250 1 5 3.48 814
20 Staff in the Company deal with customers’ problems exactly 250 1 5 3.42 848
21 Team of salespeople in the
Company create prestige with customers
X Newspaper Printing JSC boasts a well-trained and customer-oriented workforce, with employee transaction skills and experience receiving high praise from clients, reflected in mean scores ranging from 3.76 to 4.35 The company's friendly and enthusiastic approach is rated highly at a mean of 4.25, while the reputation of its sales team stands out with a mean of 4.35 This strong emphasis on customer service differentiates X Newspaper Printing JSC from competitors in the market and aligns perfectly with the company’s current strategy focused on personnel training and professional development.
Descriptive statistical analysis of convenience criteria
[Table 4-14] The descriptive analysis of convenience criteria
N Minimum Maximum Mean Std Deviation
22 convenient location for signing contracts 250 1 5 4.36 726
23 appropriate location for delivering and receiving goods 250 1 5 3.49 743
24 easily find out the company’s trading location 250 1 5 3.67 764
25 satisfied with the company’s trading location 250 1 5 3.70 784
In general, customers agree with the convenience scale with mean from 3.49 to 4.36; the location to sign contract is agreed at the highest level (mean
= 4,36), this is suitable with the fact because the company’ headquarter is at the city center which is convenient for accessing.
The scale analysis
4.3.1 Assessing the scale reliability through the Cronbach’s Alpha coefficient
Cronbach's Alpha is utilized to assess the reliability of scales, aiding in the removal of unsatisfactory observed items Items with an item-total correlation below 0.3 are excluded, and a Cronbach's Alpha of 0.6 or higher is required, with a target of exceeding 0.7 for optimal reliability (Nunnally & Bernstein, 1994, Psychometric Theory, 3rd edition, New York, McGraw Hill).
4.3.1.1 The Cronbach's Alpha coefficient reliability for the dependent items implementing the company marketing strategies
[Table 4-15] The Cronbach's alpha coefficient of the company marketing strategy scale
Cronbach's Alpha Based on Standardized Items N of Items
Based on table 4.15, we see that Cronbach’s Alpha of dependent items of marketing strategy is 0.848 >0.7 demonstrating the high reliability
[Table 4-16] Cronbach’s Alpha of the marketing strategies
Scale Mean if Item Deleted
Scale Variance if Item Deleted
Cronbach's Alpha if Item Deleted marketing strategy in the company is successful
7.03 2.405 775 682 742 marketing strategy in the company is effective
7.07 2.305 779 687 732 marketing strategy in the company is well organized
The marketing strategy demonstrates a strong reliability with a Cronbach’s Alpha coefficient of 0.848 Additionally, the Cronbach's Alpha if Item Deleted values are lower than 0.848, indicating that no individual item significantly enhances the overall reliability Furthermore, the Item-Total Correlation for all items is below 0.3, confirming that no items need to be removed from the analysis.
4.3.1.2 The Cronbach’s Alpha reliability for the product quality.
[Table 4-17] The Cronbach’s Alpha of the product quality scale
Cronbach's Alpha Based on Standardized Items N of Items
The table 4.17 shows that Cronbach’s Alpha coefficient of the product quality factor is: 0.835> 0.7; it is reliable.
[Table 4-18] The Cronbach’s Alpha coefficient of the product quality
Scale Mean if Item Deleted
Scale Variance if Item Deleted
Cronbach's Alpha if Item Deleted
3 Product colors are sharp and clear 15.08 12.294 698 580 789
4 Products are packed beautifully and fastened 15.26 11.976 625 517 805
5 Product quality is very stable 14.82 13.947 498 372 828
6 Product quality is the best in X 14.86 13.748 504 384 827
The Cronbach’s Alpha for product quality is 0.835, indicating good internal consistency Additionally, the coefficients for the Cronbach's Alpha if item deleted are all lower than 0.835, and the Item-Total Correlation coefficients for all items exceed 0.3, confirming that no items need to be removed from the analysis.
4.3.1.3 The Cronbach’s Alpha coefficient for the product price
[Table 4-19] The Cronbach’s Alpha coefficient of the product price scale
Cronbach’s Alpha coefficient of the product: 0.762> 0.7 it is reliable
[Table 4-20] Cronbach’s Alpha of the product price
Scale Mean if Item Deleted
Scale Variance if Item Deleted
Cronbach's Alpha if Item Deleted
7 Product price is reasonable compared to the same kind of products of competitors.
8 Product price is suitable to product quality.
Company is reasonable in the market
The Cronbach’s Alpha coefficient for product price is 0.762, indicating good internal consistency Additionally, the Cronbach's Alpha if Item Deleted values are all lower than 0.762, and the Item-Total Correlation coefficients for all items exceed 0.3, confirming that no items need to be removed.
4.3.1.4 The Cronbach’s Alpha coefficient for the company brand name
Cronbach's Alpha Based on Standardized Items N of Items
[Table 4-21] Cronbach’s Alpha of the company brand name scale
Cronbach's Alpha Based on Standardized
The table 4-21 shows that Cronbach’s Alpha coefficient of the company’s brand name scale is: 0.759> 0.7; it is highly reliable.
[Table 4-22] Cronbach’s Alpha of the company’s brand name scale
Scale Mean if Item Deleted
Scale Variance if Item Deleted
Cronbach's Alpha if Item Deleted
13 The Company has system of the best machines and equipment in X
14 The Company is prestigious in the market 12.93 4.653 662 446 667
15.The Company is in front of the competition in X market
The Cronbach’s Alpha coefficient of the company’s brand name is: 0.759.
The Cronbach's Alpha if Item Deleted coefficient are smaller than 0.759 The Item-Total Correlation coefficient of all items is greater than 0.3, thus no item is eliminated.
4.3.1.5 The Cronbach’s Alpha coefficient for the customer orientations.
[Table 4-23] Cronbach’s Alpha of the customer orientation scale
The table 4-23 shows that Cronbach’s Alpha coefficient of the customer orientation factor is: 0.837> 0.7; it shows high reliability.
[Table 4-24] Cronbach’s Alpha of the customer orientation scale
Cronbach's Alpha Based on Standardized Items N of Items
Scale Mean if Item Deleted
Scale Variance if Item Deleted
Cronbach's Alpha if Item Deleted
Company to customers is friendly and warm
Company has good profession skills
Company catch customers’ ideas very quickly
Company deal with customers’ problems quickly
Company deal with customers’ problems exactly
21 Team of salespeople in the
Company create prestige with customers
The Cronbach’s Alpha coefficient of the customer orientation is: 0,837 The
Cronbach's Alpha if Item Deleted coefficient are smaller than 0.837 The
Item-Total Correlation coefficient of all items is greater than 0.3, thus no item is eliminated.
4.2.1.6 The Cronbach’s Alpha reliability coefficient for the Accessibility
[Table 4-25] Cronbach’s Alpha of accessibility scale
The table 4.25 shows that the Cronbach’s Alpha coefficient of the accessibility is: 0.823> 0.7; it shows the high reliability.
Table 4-26 Cronbach’s Alpha of the Accessibility scale
Scale Mean if Item Deleted
Scale Variance if Item Deleted
Cronbach's Alpha if Item Deleted
22 convenient location for signing contracts
23 appropriate location for delivering and receiving goods
24 easily find out the company’s trading location
25 satisfied with the company’s trading location
The Cronbach’s Alpha coefficient of the accessibility is: 0.823 The
Cronbach's Alpha if Item Deleted coefficient are smaller than 0.832 The
Item-Total Correlation coefficient of all items is greater than 0.3, thus no item is eliminated.
Cronbach's Alpha Based on Standardized Items N of Items
Factor analysis is a statistical method used to analyze and summarize data, helping to identify groups of related items known as factors These factors are interconnected and represent underlying dimensions within the data Each observed item is assigned a value called Factor Loading, which indicates the degree to which each measurement corresponds to a specific factor.
*The coefficient KMO (Kaiser-Meyer-Olkin) must reach the value above 0.5 (0.5 = 1 the extracted factor has best significance of information summary.
[Table 4-27] KMO and Bartlett’s test
Kaiser-Meyer-Olkin Measure of Sampling Adequacy .856 Bartlett's Test of Sphericity Approx Chi-Square 3.325E3
Extraction Sums of Squared Loadings Rotation Sums of Squared Loadings
Extraction Method: Principal Component Analysis.
4 Products are packed beautifully and fastened 804
3 Product colors are sharp and clear 803
6 Product quality is the best in X 584
5 Product quality is very stable 573
17 Staff in the Company has good profession skills
22 convenient location for signing contracts 801
23 appropriate location for delivering and receiving goods 754
24 easily find out the company’s trading location 698
25 satisfied with the company’s trading location 675
20 Staff in the Company deal with customers’ problems exactly 816
19 Staff in the Company deal with customers’ problems quickly 791
21 Team of salespeople in the
Company create prestige with customers
18 Staff in the Company catch customers’ ideas very quickly 656
12 When I want to print, I will order in the Company 736
15.The Company is in front of the competition in X market 735
4 Products are packed beautifully and fastened 804
3 Product colors are sharp and clear 803
6 Product quality is the best in X 584
5 Product quality is very stable 573
17 Staff in the Company has good profession skills
22 convenient location for signing contracts 801
23 appropriate location for delivering and receiving goods 754
24 easily find out the company’s trading location 698
25 satisfied with the company’s trading location 675
20 Staff in the Company deal with customers’ problems exactly 816
19 Staff in the Company deal with customers’ problems quickly 791
21 Team of salespeople in the
Company create prestige with customers
18 Staff in the Company catch customers’ ideas very quickly 656
12 When I want to print, I will order in the Company 736
15.The Company is in front of the competition in X market 735
- Looking at the table above we can see the value of KMO = 0.856. Therefore, the data is suitable for factor analysis.
- The significance of Bartlett’s test sig = 0.000 50% showing that five factor groups explain 63.299% of data variance; so the scale is acceptable.
+ Stop point when extracting factors at the 5 th factor with eigenvalue 1.218> 1.
The factor analysis identified 25 items, revealing three key factors: the professionalism of company staff, characterized by strong skills; the friendly and warm attitude of staff towards customers; and the perception that product prices are high.
22 remaining observed items are grouped into 5 groups
The analysis conducted in Chapter 3 has identified key items that influence the company's marketing strategy These items will be redefined and evaluated based on their average values.
The performance Marketing Strategy = MEAN (marketing strategy is successful in the company, in the company marketing strategy is effective, marketing strategy is well organized in the company)
Use the command Transform -> Compute Item to enter new items inSPSS for the next analysis.
The regression analysis
According to the EFA, there are 5 factors that affect the business strategy of the company:
- The customer orientation of employees
These five factors will be used as independent items in the model and the dependent item will be the implementation of business strategies.
We will conduct a regression analysis to identify the factors that affect customer satisfaction and assess the significance of each factor The values for both independent and dependent variables used in this analysis are derived from standardized data obtained during the factor analysis process The analysis will follow FIN standards, utilizing an entry significance level of 0.05 and an output standard of Fout at 0.1.
With the initial assumption for the theoretical model, we have a linear regression equation with the result as follows:
+ B3 * Employee Customer Orientation + B4 * Company’s Brand + B5 * Product price
Std Error of the Estimate Durbin-Watson
1 768 a 647 630 56912 2.033 a Predictors: (Constant), Price_mean, Quanlity_mean, Employee_mean, Brand_mean, Accesibility_mean b Dependent Variable: Marketing_mean
The linear regression analysis results indicate that the model has an R² value of 0.647 and an adjusted R² of 0.630, demonstrating a model suitability of 64.47% This means that five factors account for approximately 64.47% of the variance in the data set.
The Durbin-Watson statistic of 2.033 indicates no correlation among the residuals, while each variable exhibited a tolerance greater than 0.10 and a variance inflation factor (VIF) below ten These results confirm that the model does not suffer from significant multicollinearity issues Consequently, it can be concluded that the multiple regression model used in this study satisfies the necessary assumptions for ensuring the validity of its significance tests.
We see the sig value for Product quality (0.000), Accessibility trading
(0.031), Employee Customer Orientation (0.003), Company’s Brand (0.026),
Product price (0.006) were> 0.05, so these factors are statistically significant.
From the regression analysis, we find the relationship between the dependent items and the implementation of business strategies and 5
Marketing_mean independent items are presented in the standardized regression equation (Standardized Coefficients):
The performance Marketing Strategy = 0,463 * Product quality + 0,394 * Accessibility trading + 0,397* Employee Customer Orientation + 0,604 * Company’s Brand + 0,513* Product price
The regression analysis indicates a significant linear relationship between the implementation of business strategies and various customer-oriented factors, with standardized Beta coefficients of 0.604 for company brand, 0.513 for product price, 0.463 for product quality, 0.397 for employee customer-orientation factors, and 0.394 for accessibility in trading.
Standardized Beta coefficients greater than 0 indicate that independent variables positively influence the execution of business strategies Therefore, it is essential for companies to incorporate these factors into their strategic development to improve their overall business performance.