Digital marketing vital for brands
Digital marketing has proved to be vital as a bridge bringing Vietnamese brand names to international markets, heard attendants at the Vietnam CEO Summit 2016 held in Hanoi on July 29.
Le Van Hoang, 26, develops his own trademark for a clean coffee product called "Enjoy" in the Central Highlands province of Dak Lak (Photo: VNA)The marketing tool is expected to be strongly developed in Vietnam in the near future as it enables the quick launch of new products and access to niche markets.
In this context, traditional advertisements should be integrated into digital marketing to better develop brand names.
Professor John Quelch from Havard Business School told the summit, entitled Breakthrough Marketing: New Case Studies from Harvard, that a deep understanding of customers could create powerful marketing strategies. This would also affect businesses’ strategies for brand names, products, communication, prices and distribution.
He said that since the markets have become more wide and sophisticated, especially when Vietnam joins a range of trade agreements such as AEC and TPP, marketing strategies should represent customer segments.
Marketers should balance demands from several segments while being flexible in responding to changes of technology, customers and society.
For more than 50 years, the wave of start-ups has been expanding in the US, Japan, China and Southeast Asia. With the advantage of young populations and continuous development of smart phones which have strongly affected consumption habits and business methods, Vietnam has gradually seen changes in start-up development.
Start-ups should search for flexible marketing strategies that are suitable to their scale.
The professor also suggested businesses to frequently renew their products and services, choosing customer segments, managing profitability and setting clear targets.
V u Da ng Vinh, Vietnam Report’s G eneral D irector – the organiser said the event aimed to connect businesses’ leaders, specialists in Vietnam and international partners to exchange experiences to develop the local market and better integrate into the global market.
Vietnam CEO Summit 2016 attracted the participation of more than 350 Vietnamese businesses from Top 500 biggest firms (VNR500), Top 500 fast development firms (FAST 500), Best Prospect 500 and Top 1,000 biggest tax payers.
Under the event, Vietnam Report honoured Top 10 commercial banks in Vietnam and Top 10 prestigious insurance companies 2016.-VNA
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