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FOREIGN TRADE UNIVERSITYFACULTY OF BUSINESS ENGLISH-------***-------BUILDING AND DEVELOPING THE BRAND OF HDA ART & EDUCATIONJOINT STOCK COMPANY - REALITY AND SOLUTIONSName : Dang Thi Thu UyenClass : Anh 3 - K56 - FBEStudent ID : 1717710195Instructor : M Le Thi Bich ThuyHanoi, August 2020TABL...

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FOREIGN TRADE UNIVERSITY FACULTY OF BUSINESS ENGLISH -------***-------

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

:

Dang Thi Thu Uyen

Class

:

Anh 3 - K56 - FBE

Student ID Instructor

:

:

1717710195 M.A Le Thi Bich Thuy

Hanoi, August 2020

TABLE OF CONTENTS INTRODUCTION 1.

Reasons for choosing the topic.

2.

3. Structure of the report

3.

Research methodology.

CHAPTER 1: AN OVERVIEW OF HDA ART & EDUCATION JOINT STOCK COMPANY AND BASIC CONCEPTS 1.1.

Company overview. 1.1.1.The process of establishment and development. 1.1.3.Organizational structure.

1.2.

Internship activities.

1.3.

Theoretical basis of building and developing enterprise’s branding.

CHAPTER 2: CURRENT SITUATION OF BUILDING AND DEVELOPING THE BRAND OF HDA ART & EDUCATION JOINT STOCK COMPANY 2.1.

Current situation of building and developing the brand of HDA 2.1.1.

The brand's identity.

2.1.2.

Current situation of investment in brand development.

2.1.3.

Marketing strategies in building and developing the brand.

2.2. SWOT analysis

2.3.

Achievements and limitations in building and developing the brand. 2.2.1. Achievements. 2.2.2. Limitations.

CHAPTER 3: RECOMMENDATIONS FOR BUILDING AND DEVELOPING THE BRAND OF HDA ART & EDUCATION JOINT STOCK COMPANY 3.1.

Orientation of building and developing the brand of the company

in the future. 3.2.

Recommendations.

CONCLUSION 1.

Restating reasons for choosing the topic.

2.

Overview solutions to the issue.

3.

Implications and limitations of the report.

REFERENCES

INTRODUCTION

1. Reasons for choosing the topic Branding is one of the most effective ways for companies to popularize and reach their target customers. However, branding is not a priority for small businesses nowadays. It is viewed as a reductive concept involving only the logo, the product, the service or the technology they sell (Inskip, 2004). In many companies, they pay less or no attention to brand management in their daily tasks. A brand is defined as a "name, term, sign symbol (or a combination of these) that identifies the maker or seller of the product". (Principles of Marketing (Philip Kotler/Gary Amstrong). All businesses need to successfully sell their products and services to customers in order to achieve business success and competitive advantage, and small businesses are no exception to this rule (Pelham & Clayson, 1998). Whilst marketing success is imperative for the operational and financial success and growth of small and entrepreneurial firms, such organisations face numerous complex and difficult challenges in the pursuit of such objectives (Pelham & Clayson, 1998). Much of the success of the owners of small enterprises stems from their ability to recognise and overcome such challenges and formulate appropriate and effective branding plans and strategies for their products and services (Pelham & Clayson, 1998).

The art training and education industry also has many limitations: New businesses only focus on enrollment and training, do not pay much attention to market research, product design, distribution systems and development of their brands, not really mastering the large domestic market.

2. Objectives of the report Having the opportunity to accompany HDA Art & Education Joint Stock Company as a marketing intern, I can have a general overview of what a marketing executive at a company does, how this position supports others in the whole company system. In addition, through the whole working time, I recognize some problems still existing that prevent HDA from utilizing maximum benefits of branding in the market at present. Therefore, for the purpose of analyzing thoroughly the current situation and then figuring out some best solutions to fix it and help the company make the most out of its image, I come to write this report. 3. Research methodology With the proposed research objectives, all analyses are executed using ratios, comparison methods in order to draw conclusions from the data collected. The data used throughout the report comprises secondary data gathered from annual reports of the company, as well as other sources of information such as textbooks, websites, journals, articles from the Internet. Tables, diagrams and industry benchmarks are used interchangeably to interpret and analyze the abovementioned data.

4. Research structure Except for table of contents, acknowledgements, introduction, conclusion and references, this report covers three chapters: Chapter I: An overview of HDA Art & Education Joint Stock Company Chapter I1: Current situation of building and developing the brand of HDA Art & Education Joint Stock Company

Chapter III: Recommendations for building and developing the brand of HDA Art & Education Joint Stock Company Chapter 1 aims at introducing the HDA Art & Education Joint Stock Company, the internship activities of the author as well as the theoretical basis. Chapter II provides an actual situation of building and developing the brand in HDA Art & Education Joint Stock Company. Chapter III points out recommendations that I conclude from analyzing the current situation of the company.

CHAPTER 1: AN OVERVIEW OF HDA ART & EDUCATION JOINT STOCK COMPANY 1.1.

Company overview

1.1.1. General introduction HDA is an art and education company specializing in training dancers from 6-18 years old in Hanoi with a team of professional teachers who have many years of teaching experience. The main skill taught in HDA is dance class for both kids and adults. Based in Hanoi and, with the representative is CEO Nguyen Anh Tuan. Established as a start-up in 2019 with 4 founders, the company had spent a whole year seeking its customers. Their hard work paid off when they got 25 classes in 6 locations the first year. With their creativity, HDA soon expanded their business to many dynamic provinces in Ha Noi. Since 2019, the company has officially diversified their services, which includes kids class and adult class. From 2019 till now, the company concentrated on business expansion and brand positioning.

1.1.2. Vision and mission. HDA’s vision is to become a top-notch, trustworthy, and recognized business in training dancing skill; from there, become a valuable factor in contributing to the development of the young generation. HDA’s mission is to provide professional dance instruction and instill an appreciation for the art of dance in a safe, high-quality studio environment. They also provide high quality dance classes to children and adults in a non competitive, socially aware environment. At HDA, their work provides our dancers with all the necessary resources to be their personal best and encourage students to test their skills by participating in highly selective competitions around the country. Knowing the key role of core values which form the foundation on which companies perform work and conduct themselves, in HDA, there are three core values: Integrity and Diversity, Creativity and Passion, and Connections and Collaboration. The first value focuses on Integrity and Diversity. Tuan Anh Nguyen, the Director of HDA, stated that they say what they mean and mean what they say. If we make a promise, we will do everything in our power to keep it. We will never lie or twist the truth to serve our own ends. We aim to be trusted and know that this can only be accomplished by being totally trustworthy. In HDA, they are a supportive community committed to individual and artistic integrity and inclusion. They promote and respect self-expression, a wide range of ideas, and diversity in all its forms. The second core value at HDA is education. It is not an exaggeration to say Creativity and Passion is the key factor in any kind of art. That’s why all of HDA’s programs are designed to boost the creativity of children in our program participants. HDA aims to develop creativity and passion that best prepare children for developing their soul. The creativity and passion benefits are derived from numerous activities in our classes,

ranging from working in groups, creating new things. With a focus on excellence, we inspire, challenge and support the unconventional thinkers, dreamers and doers who are passionate about using their creative works to impact society. It is how HDA makes their dancing classes different. The third core value is Connections and Collaboration. In HDA, children come to classes to connect with others. We connect design and the performing, visual, communication and liberal arts in the classroom and the community, expanding artistic possibilities, outcomes and lives through creative collaboration.

1.1.3. Organizational structure. Here, the organizational structure of the company is organized according to the online functional model. Management tasks are divided into specialized functions, which form departments. These departments are in charge of specialized areas that they directly manage but do not directly order. Instead, they will report to the executive director. Once approved by the board of directors and shareholders, the executive director will be the direct decision maker.

The organizational structure is detailed in the diagram below:

Figure 1.1: Organizational structure of HDA (Source: HDA ART & EDUCATION JOINT STOCK COMPANY) The founder and director is in charge of making important decisions in the business operation with the assistance of the Executive Director and Professional Director. Under her leadership, the company is divided into 5 main departments: sales department, marketing department, human resources department, accounting department and professional teacher department. Each department has a manager and from 3 to 5 staff.

The Sales Department is responsible for seeking partners and students who desire to study with HDA. The partners include domestic and foreign ones. The sales team is in charge of establishing partnerships with companies, universities, and organizations in Hanoi. The task of the Marketing Department is to conduct business planning, market researching, as well as promoting products and finding customers, responsible for enrollment plans. The Accounting department is in charge of financial planning for the company, accounting for the revenues and expenditures of customers and organizing business activities, as well as performing tasks assigned by the Directors through human resources recruiting, allocating employees and organizing training for new employees, improving professional skills for former employees. The Professional Teacher department, including HDA’s teachers, is

responsible for

teaching levels according to qualifications.

1.2. Internship activities During my internship, I had the chance to work at HDA Art & Education Joint Stock Company for 2 months (from July 1st to August 31st) in the Marketing Department under the supervision of Mr. Le Anh Tuan – Manager of Marketing Department. As an intern, my job was to assist in planning and implementing the content marketing campaign and schedule including preparing relevant topics for blog posts and writing blog posts weekly; to assist in improving previous posts on HDA’s social media flats. In short, my duty is to revise the old contents and produce new blog posts and content on the website. 1.3. Theoretical basis 1.3.1. Theoretical basis of branding According to De Chernatony (2001), a brand can essentially be described as “an identifiable product, service, person or place, and it can be increased when the buyer or user perceives relevant, unique, sustainable added values which match their needs most closely and more satisfyingly”. Keller (2003) introduced the concept of brand

knowledge, and referred to a consumer’s cognitive brand representation, which includes information about a brand that the consumer has acquired over time. He indicated that a brand should include the attributes, images, feelings, awareness, benefits and experiences (Keller, 2003). A company’s brand management is integrated into the daily operation of the company. Furthermore, a brand strategy and brand management implementation is not a one-time effort, but a regular marketing strategy, and it should follow the development of the enterprise (Keller, 1998). 1.3.2. Theoretical basis of building and developing enterprise’s branding (Source: Easy Simple Plan for Entrepreneurs to Create a Marketing Plan for a Small Business.

[online]

Entrepreneur

Asia

Pacific.

Available

at:

) There are 5 steps of how to set up effective and successful marketing strategies for a company's branding. ⮚ Step 1: Take a snapshot of the company’s current situation This first section defines the company and its products or services then shows how the benefits it provides set it apart from competition. It's called a “situation analysis”. Positioning its product or service competitively requires an understanding of its niche market. Not only does the company needs to be able to describe what it markets, but it must also have a clear understanding of what its competitors are offering and be able to show how its product or service provides a better value. The company should make its situation analysis a succinct overview of strengths, weaknesses, opportunities and threats. Finally, describe any external opportunities the company can capitalize on. ⮚ Step 2: Define who the target audience is The company should develop a simple, one-paragraph profile of its prospective customers. It can consider prospects in terms of demographics -- age, sex, family composition, earnings and geographic location -- as well as lifestyle.

⮚ Step 3: Make a list of marketing goals The company is recommended to write down a short list of goals -- and make them measurable so that it will know when it has achieved them. The company should consider important factors for its goals including specificity, optimism, realism and short/long term. ⮚ Step 4: Research marketing tactics This section is the heart and soul of the marketing plan, detailing the tactics the company will use to accomplish its goals. To complete its tactics section, it should outline primary marketing strategies, then include a variety of tactics it will use to reach prospects at any point in its sales cycle. To identify its ideal marketing mix, the company must find out which media its target audience turns to for information on the type of product or service it sells. ⮚ Step 5: Set marketing budget The company will need to devote a percentage of projected gross sales to its annual marketing budget. With so many different kinds of tactics available for reaching out to every conceivable audience niche, there’s a mix to fit even the tightest budget. If having found the costs for marketing tactics exceed the budget, the company should simply go back and adjust its tactics until it has a mix that’s affordable.

CHAPTER 2: CURRENT SITUATION OF BUILDING AND DEVELOPING THE BRAND OF HDA ART & EDUCATION JOINT STOCK COMPANY 2.1.

Current situation of building and developing the brand of HDA Art & Education Joint Stock Company 2.1.1. Indicating the brand’s identity

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

● Symbol (logo):

The logo of the company is delicately designed, with a deeply symbolic image that uses bright colors and suits for their main customers, children aged 6-18 years old.

The logo is the combination of 3 main colors with 3 distinct meanings: turquoise represents freshness, purple represents mischief and yellow stands for youthful and cheerful. These are all typical children's adjectives. The three-bar pattern from high to low is also the training direction of the center with the lesson plan going from basic to advanced, helping the children develop their talents with the right level and efficiency. ● Slogan: HDA understands the role of healthy movement in our childrens’ development. Moreover, HDA understands that early incubation and training of artistic talents for children from a young age can have a great impact on a positive and active attitude. With slogan "Don't walk, just dance", HDA wants children to be confident and happy, consider dancing as a habit and passion and always enjoy this passion. 2.1.2. Current situation of investment in brand development ⦁

In terms of facilities

Every year, the company spends financial resources for brand development activities through communication channels because it becomes one of the important trends of the digital technology era today. However, because they are small business, the level of affordable financial resources for this activity is not enough. As reported, every year, the company spends 300-400 million VND for marketing and organizing related events. ⦁

In terms of human resources

The company has a marketing department, but they do not organized a specialized marketing department to develop brands yet. That’s why the task assignment for employees in carrying out online marketing activities is not clear enough. Some tools like email or sms are done by the customer service department. Therefore, the evaluation of specific tasks assigned to individuals

in the implementation of marketing and brand development of the company is not really high. The evaluation of marketing staff developing the company's brand is generally not clear. The company has hardly arranged specifically staff to undertake marketing activities to develop the brand, they just implement branding stuff when they have to. Therefore the number of employees undertaking brand development marketing activities in general has not met the requirements of quantity as well as quality. 2.1.3. Marketing strategies in building and developing the brand of HDA Art & Education Joint Stock Company ⦁

Indicating target market

The company has conducted research on potential customers (as assumed by the executives in the company) - who in the future will be interested in and buy art and education products of HDA. The company conducts on assessing various market segments, then selects the target markets by market specialization. Accordingly, the company focuses on serving the needs of a specific group of customers, who are middle-income people or above, who concentrate to develop their soft skills through art, dancing, etc to develop their soul. The company is also interested in the group of customers who are organizations as potential customers because of the need to hire their services to teach at other schools and centers. ⦁

Advertisements

First, HDA runs advertisements on website. The company has its own website with the address at https://www.no6dance.com/ with a rich content. Not only does the company's website introduce information about products, but there are also many news and articles related to the art field.

Second, advertisements on social networks are also a crucial tool bringing about lots of benefits. These are also marketing channels with low costs but relatively high efficiency so they are used by many businesses in the market. The company selects social networking sites such as Facebook, Google, Instagram etc. or forums which are becoming more and more popular not only domestically but also internationally. ⦁

Facebook

The company uses m...