19 OUTSOURCE MARKETING SERVICE DEVELOPMENT IN MARKETING GOC CO ,LTD

MINISTRY OF FINANCE
ACADEMY OF FINANCE
--------------------

STUDENT: VŨ THỊ THUỲ DƯƠNG

GRADUATION THESIS
TOPIC:
[OUTSOURCE MARKETING SERVICE DEVELOPMENT IN
MARKETING GOC CO.,LTD]

Major

: English for finance and accounting

Student code

: 17522202010139

Supervisor : M.A Phạm Phương Oanh

Hanoi – 2021


MINISTRY OF FINANCE
ACADEMY OF FINANCE
--------------------

STUDENT: VŨ THỊ THUỲ DƯƠNG
GROUP: CQ55/ 51.05

GRADUATION THESIS
TOPIC:
[OUTSOURCE MARKETING SERVICE DEVELOPMENT IN
MARKETING GOC CO.,LTD]

Major

: English for finance and accounting

Student code

: 17522202010139

Supervisor : M.A Phạm Phương Oanh

Hanoi – 2021


Academy of finance

Graduation thesis
DECLARATION

Vu Thi Thuy Duong, hereby declare that this thesis and the study presented in
it are my own and have been generated by me as a result of my own original
research.
Thesis: “Outsource marketing service development in Marketing Goc Co.,
LTD”
Hanoi, May 25th 2021
`

Graduation thesis author
Duong
Vu Thi Thuy Duong

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ABSTRACT
This research involves identifying the outsource marketing service of
Marketing Goc Co.,LTD between 2018 and 2020. The goal is to find out the
achievements and drawbacks in Marketing Goc outsource marketing, and more
importantly, suggesting main methods to improve the efficiency of marketing at the
company. This has been done by analyzing the current performance of outsource
marketing activities in the company and pointing out whether they are effective or
not. Upon the analysis, it becomes clear that Marketing Goc Co.,LTD was getting
better with the decrease in the loss of outcome to achieve the target corporate goal
in the long run. Through showing the financial wealth of Marketing Goc Co.,LTD,
this research highlights the importance of outsource marketing service with careful
strategies in order to survive in the modern economy.

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ACKNOWLEDGEMENT
I would like to express my deep gratitude to all those who have given me the
possibility to complete this graduation thesis. In preparing this graduation thesis, I
have had generous help and advice from my teachers, my colleagues, my family and
my friends. I would like to express my great thanks to all of them.
First of all, I would like to express my deepest gratitude to my supervisor,
Mrs. Pham Phuong Oanh, lecturer of Academy of Finance because of her guidance
and instructions. It is whole-heartedly appreciated that your great advice for my
study proved monumental towards the success of this study.
Secondly, I wish to show my sincere thanks to all my teachers at Academy of
Finance, who have provided me with worthy lessons throughout 4 years of study.
Moreover, I deeply oblige the staffs of Marketing Goc Co., LTD with their
valuable supports during the internship. I am extremely thankful and indebted to
them for sharing expertise, and sincere and valuable guidance and encouragement
extended to me.
Furthermore, I would like to send my loving thanks to my family whose great
love and care in both spirit and health to encourage me to complete the thesis.
Last but not least, I also place on record, my sense of gratitude to one and all,
who directly or indirectly, have lent their hand in this thesis.

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LIST OF FIGURES AND TABLES

List

Page

Figure 2.1 Board of Marketing Goc Company
Table 2.2 Table of financial situation analysis of Marketing Goc Co.,
LTD
Table 2.3: The business performance report of Marketing Goc Co.,
LTD
Table 2.4 List of other products and services

TABLE OF CONTENTS

DECLARATION...............................................................................................1
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ABSTRACT......................................................................................................2
ACKNOWLEDGEMENT................................................................................3
LIST OF FIGURES AND TABLES..................................................................4
TABLE OF CONTENTS..................................................................................5
INTRODUCTION.............................................................................................7
CHAPTER 1: THEORETICAL BACKGROUND OF OUTSOURCE
MARKETING...................................................................................................9
1.1

Overview of Marketing.........................................................................9

1.1.1 Definitions of Marketing....................................................................9
1.1.2 Marketing environment....................................................................10
1.1.3 Marketing Mix- The 4Ps of Marketing............................................10
1.2 Overview of outsource marketing..........................................................13
1.2.1 Definition of outsource marketing...................................................13
1.2.2 Advantages of outsource marketing.................................................14
1.2.3 Marketing Mix in outsource marketing...........................................16
1.2.4 Outsource Marketing Channels........................................................17
1.3 The exploitation of Outsource Marketing in the business......................20
1.3.1 Outsource Marketing service in the medium and small companies.20
1.3.2 Changes in the Marketing................................................................21
CHAPTER 2: CURRENT SITUATION OF OUTSOURCING MARKETING

SERVICE DEVELOPMENT IN MARKETING GOC CO.,LTD..................24
2.1 Overview of Marketing Goc Co.,LTD...................................................24
2.1.1 General information of Marketing Goc Co.,LTD............................24
2.1.2 Organisation of management in Marketing Goc Co.,LTD...............26
2.1.2 The company main business activities.............................................27
2.1.3. Business performance of Marketing Goc Co., LTD from 2018 to
2020...........................................................................................................27
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2.2 Outsource marketing services activities at Maketing Goc Co., LTD....30
2.2.1. Target customers of Marketing Goc Co.,LTD.................................30
2.2.2. Services are provided by Mago Markeing:.....................................32
2.2.3. The main types of outsource marketing services of the company. 33
2.3 Reality of outsource marketing activities of Marketing Goc Co., LTD. 36
2.4 Environmental factors affecting marketing service...............................37
2.4.1. The economic environment.............................................................37
2.4.2 The cultural environment.................................................................38
2.4.3 The technological environment........................................................38
2.5 Assessment outsource marketing service of at Marketing Goc Co.,LTD
......................................................................................................................39
2.5.1 Company’s achivements in carrying out outsource marketing service

...................................................................................................................39
2.5.2 The shortcomings in carrying out outsource marketing service......40
CHAPTER 3: SOME SOLUTIONS TO IMPROVE EFFICIENCY OF
OUTSOURCE

MARKETING

SERVICE

DEVELOPMENT

IN

MARKETING GOC CO.,LTD........................................................................43
3.1 Orientations and Objectives for the future development at Marketing
Goc Co., LTD...............................................................................................43
3.1.1 Prediction of the marketing service in 2021....................................43
3.1.2 Orientations for the future development at Marketing Goc Co.,LTD
...................................................................................................................45
3.1.3 Objectives for the future development at Marketing Goc Co.,LTD 45
3.2 Suggestions to improve efficiency of outsource marketing service at
Marketing Goc Co.,LTD..............................................................................46
3.3 Recommentations to improve efficiency of outsource marketing service
at Marketing Goc Co.,LTD..........................................................................47
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3.3.1 Strengthening the organization of outsource marketing service......47
3.3.2 Implementing a detailed outsource marketing plan for medium and
small companies........................................................................................48
3.3.3 Exploiting untapped outsource service of the enterprise.................49
CONCLUSION...............................................................................................52
REFERENCE..................................................................................................53

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INTRODUCTION

1.Rationale of the study
Along with the development of the economic world, enterprises are
continuously facing with new challenges and fierce competitors, therefore, efficient
marketing service is an important aspect of a firm’s general activities and ability to
business growth.According to a business perspective, marketing refers to activities a
company undertakes to promote the buying or selling of a product or service.

Marketing includes advertising, selling, and delivering products to consumers or
other businesses. Some marketing is done by affiliates on behalf of a
company.Thus, efficient marketing service is an importance issue for every
companies .
In reality, marketing activities are extremely complicated and difficult,
especially for small and medium companies. They are small companies with limited
budget and no marketing department. Marketing is fragmented and lack of market
research. Therefore, these companies need to find the most effective way to improve
their marketing.Among different choices, outsource marketing service is the most
common of the businesses.
Awareness of the importance of marketing service,during training time, I
observed, interviewed, carried out research about outsource marketing service and I
find that the marketing service of the company was useful for the medium and small
companies . Finally, with my knowledge combined with the Mr. Vu Duc Phuong
and the enthusiastic help of staffs in Marketing Goc Co., LTD, the thesis titled:
” Outsource marketing service development in Marketing Goc Co.,LTD” is
carried out
2.Aims of the study:
Marketing Goc Co., LTD specializes in providing marketing services for
small and medium companies, therefore, the aim of the study is to evaluate
outsource marketing service of Marketing Goc Co., LTD and carry out few effective
solutions to improve the service of company.

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3.Scope of the study
Because of the limited time and the scale of the research, this research only
focuses on evaluating outsource marketing service of Marketing Goc Co., LTD
from 2018 to 2020.
4.Methods of the study
Based on knowledge at university, books and self-accumulation and to these
above objectives, several methods of studying the thesis are as follow:
Firstly, I figured collection from websites of Marketing Goc Co., LTD, books,
internet and internal information of the corporation.
Secondly, I analyze the business results report from 2018 to 2020.
Last but not least, I will use method of analyzing, synthesizing, summarising
materials and books from the theoretical background . Moreover, I will create
questions to interview clients about the company's services.
5.Organisation of the study
The study is divided into three chapters:
Chapter 1: Theoretical background of outsource marketing: This chapter
provided a general overview of Marketing, Digital Marketing , Marketing agency
and outsource marketing service.
Chapter 2: Current situation of outsourcing marketing service development in
Marketing Goc Co.,LTD: The main part of the thesis which gives the overview of
Marketing Goc Co., LTD and the current situation of outsource marketing service in
the corporation,
Chapter 3: Some solutions to improve effiency of outsourcing marketing s
ervice development in Marketing Goc Co.,LTD : This chapter gives the orientations
for the future development of Marketing Goc Co., LTD and provides some practical
recommentations and solutions to improve the efficiency of outsource marketing

service in this company.

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CHAPTER 1: THEORETICAL BACKGROUND OF OUTSOURCE
MARKETING
1.1 Overview of Marketing
1.1.1 Definitions of Marketing
In the current economic condition, businesses must operate in an environment
of fierce competition and rapid change in all aspects and declining customer loyalty.
Therefore, marketing, especially modern marketing, is an extremely powerful
"weapon" for brands to maintain their position in the market. However, not
everyone understands the nature of marketing. So what is marketing? Firstly, we
need to understand how marketing profession.
According to American Marketing Association, marketing is the activity and
the set of institutions and processes to create, communicate, deliver and exchange
offers that have value for customers, customers, partners and society in general.
In the words of Cundiff and Still ( 1986) – “Marketing is the term used to
describe collectively those business functions most directly concerned with the
demand stimulating and demand-fulfilling activities of the business enterprise”
The father of modern marketing – Philip Kotler provides one of the most

complete definitions of marketing: “the science and art of exploring, creating, and
delivering value to satisfy the needs of a target market at a profit. Marketing
identifies unfulfilled needs and desires. It defines, measures and quantifies the size
of the identified market and the profit potential. It pinpoints which segments the
company is capable of serving best, and it designs and promotes the appropriate
products and services.” This means that for him, marketing is the science and art of
exploring, creating and contributing value to meet the needs of a specific target and
thus achieve a benefit.
According to original marketing definition, marketing is the process of
researching the market's needs to create products, services and solutions to meet the
needs of the market while finding the optimal approach to show customers the
benefit and needs, which helps users satisfy.( Mr. Mago Vu)

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Among these marketing definitions ,the marketing definition of Mago Vu is
the one which is analyzed in this research because Marketing Goc Co.,LTD has
used the theoryof original to improve outsource marketing service by themselves.
Generally, these definitions have variety of same features and it is clear that
marketing is the act of driving profitable customer action. It spans the full scope of
strategies and tactics organizations use to position products and services in the

marketplace, and motivate target audiences to make a purchase. That is why
marketing management is extremely important in every business.
1.1.2 Marketing environment
The marketing activities of the business are affected by several internal
and external factors.While some of the factors are in the control of the business,
most of these are notand the business hast to adapt itself to avoid being affected by
changes in these factors. These external and internal factors group together to form
a marketing environment in which the business operates. These external and
internal factors group together to form a marketing environment in which the
business operates. The marketing environment can be broadly classified into two
parts: the micro and macro environment. Kotler and Amstrong (2012) presented the
idea of marketing environment as follow.
Macro-environment refers to those factors which are external forces in the
company’s activities and do not concern the immediate environment. Macroenvironment are uncontrollable factors which indirectly affect the concern’s ability
to operate in the market effectively. On the contrary, the microenvironment refers to
internal factors that directly affect the market operating ability of the company and
the factors are controllable. The company can manage these factors to its best
advantage.
Micro environment refers to the forces which are close to the company that
affect its ability to service its customers. The company, suppliers, marketing channel
firms, customer markets, competitors and publics ( Philip Kotler)
1.1.3 Marketing Mix- The 4Ps of Marketing

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1.1.3.1 Definition of Marketing Mix
Marketing Mix is one of the most important marketing strategies used by
companies. The term Marketing Mix was first introduced by Neil H. Borden in his
article - The Concept of Marketing Mix (1964).
According to Philip Kotler, Marketing Mix is the combination of four
elements, called the 4P’s (Product, Price, Promotion and Place), that every company
has the option of adding, subtracting, or modifying in order to create a desired
marketing strategy.
According to Principles of Marketing, the Marketing Mix is the set of tactical
marketing tools--Product, Price, Promotion and Place, that the firm blends to
produce the response it wants in the target market. (Kotler and Armstrong, 2014) It
is simple that a marketing mix is the set of marketing tools that a business uses to
sell products or services to its target customers. It means putting the right product in
the right place, with the right price and at the right time. These 4Ps have been
extensively added to and expanded through additional P’s and even a 4C concept.
But the 4Ps serve as a great place to start planning for the product or even to
evaluate an existing product offering.
1.1.3.2 Elements of Marketing Mix
The product is either a tangible good or an intangible service that is seem to
meet a specific customer need or demand. All products follow a logical product life
cycle and it is vital for marketers to understand and plan for the various stages and
their unique challenges. It is key to understand those problems that the product is
attempting to solve. The benefits offered by the product and all its features need to
be understood and the unique selling proposition of the product need to be studied.
In addition, the potential buyers of the product need to be identified and understood.
Price covers the actual amount the end user is expected to pay for a product.

How a product is priced will directly affect how it sells. This is linked to what the
perceived value of the product is to the customer rather than an objective costing of
the product on offer. If a product is priced higher or lower than its perceived value,

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then it will not sell. This is why it is imperative to understand how a customer sees
what you are selling. If there is a positive customer value, than a product may be
successfully priced higher than its objective monetary value. Conversely, if a
product has little value in the eyes of the consumer, then it may need to be
underpriced to sell. Price may also be affected by distribution plans, value chain
costs and markups and how competitors price a rival product.
The marketing communication strategies and techniques all fall under the
promotion heading. These may include advertising, sales promotions, special offers
and public relations. Whatever the channel used, it is necessary for it to be suitable
for the product, the price and the end user it is being marketed to. It is important to
differentiate

between

marketing

and

promotion.

Promotion

is

just

the

communication aspect of the entire marketing function.
Place has to do with how the product will be provided to the customer.
Distribution is a key element of placement. The placement strategy will help assess
what channel is the most suited to a product. How a product is accessed by the end
user also needs to compliment the rest of the product strategy.
A marketer can use these four to adjust the product offering. Marketing mix
along with other marketing techniques like segmentation, targeting, positioning,
planning, research can lead to a successful marketing proposition.
1.1.4 The SWOT Matrix in marketing analysis
SWOT analysis could be a method to spot Strengths, Weaknesses,
Opportunities and Threats , and it is often employed in project planning and when
formulating a business strategy. The SWOT analysis can help to develop an in depth
decision basis when evaluating a matter, since it covers critical success and fail
factors. The strengths and weaknesses are identified as internal aspects of the matter
analyzed, compared to opportunities and threats which are external factors, e.g.
market trends or politics. (Dyson, 2002)
The primary element of a SWOT analysis is Strengths. Strengths describe

what an corporation excels at and what separates it from the competition: a robust

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brand, loyal customer base, a powerful record, unique technology, and so on. For
example, a hedge fund may have developed a proprietary trading strategy that
returns market-beating results. It must then decide a way to use those results to draw
in new investors. Weaknesses stop a corporation from engaging at its optimum
level. They are areas where the business must to improve to stay competitive: a
weak brand, higher-than-average turnover, high levels of debt, an inadequate supply
chain, or lack of capital. Opportunities check with favorable external factors that
would give an corporation a competitive advantage. For instance, if a country cuts
tariffs, a auto manufacturer can export its cars into a replacement market, increasing
sales and market share. Last but not least, the ultimate element of a SWOT analysis
is Threats that

seek advice from factors that have the potential to harm a

corporation. For example, a drought could be a threat to a wheat-producing
company, because it may destroy or reduce the crop yield. Other common threats
include things like rising costs for materials, increasing competition, tight labor

supply and so on.
SWOT Analysis is taken into account excellent for the corporate to stay a
track on their own activities and to see where the corporate stands within the
market.
1.2 Overview of outsource marketing
1.2.1 Definition of outsource marketing
According to Wikipedia, “outsourcing” is subcontracting a process like
product design or manufacturing to a third-party company. In a content marketing
context, most businesses are structured to offer their products and services but are
not often formed to be content publishers.
Outsourcing the marketing function to a marketing agency has distinct
benefits including: the fact that the focus is on the customer; it is immersed in your
whole business; it allows the maintenance of the right focus; it enhances speed and
efficiency; it allows for integrated disciplines; and it ensures getting the job done
right (Graham, 2007, pp. 16-17). To make an objective assessment of such activities

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we should juxtapose the positives and negatives of outsourcing marketing
communications. The formulation of a general list of advantages and disadvantages
is not easy due to the complexity of the previously described phenomenon. By

creating it, the assumption was made that marketing outsourcing concerns passing
on medium to long-term cooperation with external contractors who take over
responsibility for the implementation of marketing communication within the
environment.
1.2.2 Advantages of outsource marketing
In the beginning, startup companies are always trying to fix everything by
themselves. Their marketing strategies are usually made by self-thought marketing
experts, who also work in some other company sectors. This strategy is timeconsuming and company owners will realize sooner or later that marketing is one of
the key sectors for securing company’s growth. This turning point can lead to two
different scenarios, one is they hire a professional marketing expert and the other is
they decide to fully or partially outsource their marketing sector.
Both of those scenarios can lead to success, and also the outcome mostly
depends on what kind of company we’re talking about. Smaller startup companies
that provide quality products or services should continue what they are doing best.
Additional hiring, and forming a team of marketing experts can drastically lower
their budget, and that’s why outsourcing their marketing strategy and letting agency
experts deal with all the marketing hardships is certainly an honest thing to try and
do. During this article, we’re going to review a number of the benefits that
outsourcing marketing agencies offer to their clients.
1.2.2.1 Professional outsourcing marketing team
Outsourcing marketing teams recently became very common among startup
companies. This practice is especially good for product based businesses, since
forming a marketing team with talents that have the same level of competence as
the ones that work for marketing agencies can cost well over six figures per year,
which is the price that most of the smaller companies are not able to pay.Marketing

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agency costs are much lower, and their rate is usually much smaller than only one
executive salary. For this price startup companies get an experienced team of
marketing experts, which is definitely a bargain. In addition to this, companies also
don’t need to pay for ad and software costs, since these are usually covered by the
agency.
1.2.2.2 The fresh insight
Outsource marketing provides fresh insight. A lot of employees are very
reluctant when it comes to talking about company’s sales, marketing strategies or
anything that has something to do with company’s trends. Who would blame them?
In larger corporate enterprises, sharing an opinion that’s different than the one that
superior has, can lead into all kinds of troubles. Marketing agency experts don’t
have a problem with that, they will always provide an honest and uncensored
opinion about company’s business.
1.2.2.3 Time saving
It takes less time to consume .To see the complete benefit of outsourcing
company’s marketing team, people should consider what proportion time they’ll
need to hire and train talents to own the identical level of competency because the
experts who work for marketing agencies. This can be very time-consuming and it
requires lots of CV reading, tests and interviews for the hiring part and lot of
explaining, practicing and research for the training part during the chosen candidate
has to get accustomed to the company’s products and services and what’s even more
important with habits and behavior of company’s target customer. Since marketing
agency experts usually have a lot of experience with different fields of marketing,

there’s a giant possibility that the agency has an expert who already worked within
the respective industry, and who already knows plenty about the products on the
offer as well as about the target customer that’s curious about buying them.
1.2.2.4 Turnover saving
It eliminates turnover. In addition to requiring a protracted and sometimes
expensive training, entry level marketing personnel usually doesn’t get attached to

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their first position within the corporate. When they gain more experience within the
industry, most of the experts tend to look for another position, often in numberous
companies. It is also important to grasp that currently, with the increase of digital
marketing, there’s a lack of qualified and experienced marketing staff, so marketing
sector employees often get a lot of good offers from other enterprises. High
employee turnover rates can affect company’s business in an exceedingly bad way
since it requires additional time and funds to rent and train new experts.
1.2.3 Marketing Mix in outsource marketing
Because medium and small companies have the limited marketing skills,
outsource marketing become essential to them. The concept of the 4Ps marketing
mix was invented well before the internet became a part of everyday life, but it can
be adapted easily to form the basis for developing a marketing strategy in today’s

marketing world.
Firstly, outsource marketing has created highly specialized products and
services. Products created from outsourced marketing services will reach the needs
of customers. For small and medium companies, because they do not have a
professional marketing team to learn about products sold to users and also the
current market, therefore, their products do not meet the users' needs, it is difficult
to sell.
Secondly,outsource marketing agencies not only supply the best marketing
service to small and medium companies but also have reasonable cost,which helps
companies save costs and makes their marketing activities more efficient.In the
other side, SMEs don’t have basic marketing skills, which costs them too much
money but is ineffective.
Next, place refers to the point of sale. In every industry, catching the eye of the
consumer and making it easy for her to buy it is the main aim of a good distribution
or 'place' strategy. Retailers pay a premium for the right location. In fact, the mantra
of a successful retail business is 'location, location, location'. By hiring marketing
firms, companies will orient their goals in their business and become success.

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Last but not least, promotion refers to all the activities undertaken to make the

product or service known to the user and trade. This can include advertising, word
of mouth, press reports, incentives, commissions and awards to the trade. It can also
include consumer schemes, direct marketing, contests and prizes. Using online and
offline marketing has many advangtages, such as: the ability to target customers
easier, flexibility in advertising costs, and easy measurement of efficiency.
Therefore,Corporations are now promoting their product with methods which are
different from what they would have used 30 years ago.
1.2.4 Outsource Marketing Channels
In the modern technolohy, outsource marketing also use digital marketing
tools to solve their job. The marketing channel (or distribution channel) is “a set of
interdependent organizations that help make a product or service available for use
or consumption by the consumer or business user” (Philip Kotler and Garry
Armstrong, 2012). Marketing has a number of channels and these can be separated
into online marketing channels and offline marketing channels. The main difference
between the two is that online marketing channels are based solely on the Internet
while offline marketing channels have to do with digital devices that are not
necessarily connected to the Internet.
1.2.4.1 Types of online marketing
a. Definition of online marekting
“The recent technology boom has created a digital age. The explosive growth
in computer, communications, information, and other digital technologies has had a
major impact on the ways companies bring value to their customers.” (Kotler &
Armstrong 2012, p. 26). Wide use of the Internet has dramatically affected
consumers and marketers. Moreover, its employment and impact is growing
constantly. (Kotler & Armstrong 2012 p. 508)
Online marketing referred to as online advertising means advertising that
appears on computer screens while consumers are surfing the web, such ads can be
for example banners (Kotler and Armstrong, 2006, p. 571).

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According to Ifeagwu (2019), there are seven types of online marketing that
are available to today’s businesses: Content marketing, Search engine optimization,
Search engine marketing, Social media marketing, Email marketing, Retargeting,
and Influencer marketing.
The first type is Content marketing which is publishing content in different
forms to build brand awareness and nurture relationships with customers. According
to Forbes, content marketing is a marketing technique of creating and distributing
valuable, relevant and consistent content to attract and acquire a clearly defined
audience – with the objective of driving profitable customer action. Examples of
content marketing include blogs, posts on social media, infographics, and video.
Search engine optimization, commonly known as SEO, is the process of
optimizing the content on website to make it more visible to search engines and
attract more traffic from searches.
The next one, Search engine marketing, is also known as pay-per-click or
PPC. With this type of marketing, businesses pay to have a link to their site placed
in a prominent position on search engine result pages.
Social media marketing means using social networks like Facebook,
Instagram, and Twitter to build relationships with existing customers and reach a
wider audience through digital word-of-mouth.
Email marketing is a powerful marketing channel, a form of direct

marketing as well as digital marketing , that uses email to promote your business’s
products or services. It can help make your customers aware of your latest items or
offers by integrating it into your marketing automation efforts. It can also play a
pivotal role in your marketing strategy with lead generation, brand awareness,
building relationships or keeping customers engaged between purchases through
different types of marketing emails.
Retargeting is contacting existing or potential customers after they have
already had an interaction with the brand to get them to come back or convert into a
sale.

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Graduation thesis

Finally, Influencer marketing or KOLs is the method of using individuals with
a high profile and many followers on social network channels to promote a product
or service.
b. The importance of online marketing activities
Online marketing removes all geographical limitations from the practice of
buying and selling. So the internet allows an unlimited global reach (Allen and
Fjermestad, 2001; Teo and Tan, 2002; Sigala, 2008) at an outstandingly lower cost.
Due to the massive cost of traditional media, global reach was once the
exclusionary realm of huge multinational corporations, but the advent of costeffective internet technologies has enabled smaller businesses to enjoy this kind of

reach. Overcoming the geographic barriers, marketers are now able to present
products and services to different groups of customers across the universe with the
simple condition that they have access to the internet (Mohammed, 2010: 2).
It goes without saying that, compared with traditional advertising media
channels, which are very resource consuming, online marketing via internet is
clearly cost-effective and might accomplished its objectives at a fraction of the cost
(Paul, 1996; Hamil, 1997; Godes and Mayzlin, 2004; Sheth and Sharma, 2005;
Buhalis and Law, 2008; Poon and Jevons, 2010).
Another aspect of online marketing is its possibility of tracking. In fact "the
track-ability of Internet Marketing is one of its greatest assets" (2014). The Internet
enables measurement of everything happening on it. So, the amount of clicks that a
specific promotional piece receives and amount of website traffic is well measured.
In this way the marketer is enabled to trace the visitors to her or his website and
understand their behavior.
Personalization which comes with customization is another important aspect
peculiar to marketing online through the internet. So online marketing could be a
personalized marketing which is also called marketing to the Segment of one or
"one-to-one marketing" (Peppers and Rogers,1993). This process end up in offering
customized products to customers. In this way, customers are sent personalized

SV: Vu Thi Thuy Duong

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Lớp: CQ55/51.05


Academy of finance

Graduation thesis

messages which produce much greater impact compared with impersonalized,
generic messages sent indiscriminately to the customer’s mailbox.
1.3 The exploitation of Outsource Marketing in the business
The Industrial Revolution 4.0 resulted in rapid changes in the fields of
technology, communications, customers and business models. In publishing, the
Revolution also affected the publishing process and model. It is not hard to see that
the publishing industry is adapting rapidly to the digital environment. More and
more small and medium enterprises are set up, they are still weak in marketing ,
therefore, they need outsource marketing services to improve their marketing
activities.
1.3.1 Outsource Marketing service in the medium and small companies
Digital Marketing support is an integral part of every business and, in this
highly technical marketing world, it’s all about the data. For large companies, they
have the advantage of a full marketing, advertising and public relations teams with
assistance from outsourced agencies as needed.
But what if you are a small to medium sized business that just can’t keep up
with the marketing work load, all the software and tools required? You are focusing
on the core functions of your business and do not have the time to be blogging,
tweeting and posting! The technical side of marketing is constantly changing and
the list of skills needed continues to grow at rapid speed.
Wouldn't it be easier if you could use an outside company to assist in some
of the more daunting time consuming tasks? Marketing needs tend to shift and you
may only need part time support for most of the year and to ramp up for special
projects at other times. Do you really want to go through the hiring process, or just
pick up the phone and call your outsource marketing company. With our services
you only pay for what you need and can adjust your hours accordingly.
1.3.2 Changes in the Marketing
1.3.2.1 Changes in the world Marketing

SV: Vu Thi Thuy Duong

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Lớp: CQ55/51.05


Academy of finance

Graduation thesis

The world of marketing is literally changing by the minute as marketing isn’t
any longer confined to traditional selling and advertising but also encompasses use
of advanced technologies and Big Data Analytics in a real time manner.
For instance, traditionally, marketers were expected to depend on market
research conducted by specialized agencies likewise as in house teams to assess the
demand and consumer preferences for a specific good or service.
Next, they were expected to coordinate with the R&D (Research and
Development), Production, and Quality Control departments to time the discharge
of the products or services. Further, they were then expected to undertake
advertising and sales promotions that entailed managing the ad campaigns and
provide chain as well as marketing management.
Finally, they were expected to include the feedback from the purpose of sale
outlets as well as from marketing research to asses and determine whether their
strategies have succeeded or have to be fine tuned.
In all the above steps, marketing was essentially demand driven and involved
optimum use of technology and at identical time, was largely on physical
dimensions since all this was worn out the manufacturing supply chains as well as
geographical distribution channels. This meant that marketing was the maximum
amuont about advertising and promotions because it was about reaching intent on

consumers through physical channels.
1.3.2.2 Changes in the Vietnam Markting
In recent years, the growth rate of enterprises and brands is increasing. But
most businesses have not clearly defined how to do marketing. The marketing
nature comes from the market, to meet the market's needs through products and
services.
M.A Do Tien Long (2017) has said that digital marketing has became more
and more popular than traditional marketing tools within the era of the 4.0
technology revolution. With the very fact that individuals are increasingly

SV: Vu Thi Thuy Duong

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Lớp: CQ55/51.05


Academy of finance

Graduation thesis

captivated with the internet for everyday activities, promoting products and brands
online may be a must for any business and organization.
According to WeareSocial and Hootsuite's 2019 Digital Marketing Reports,
Vietnamese users spend an average of 6 hours and 42 minutes each day
participating in Internet-related activities. The report also mentioned that
Vietnamese users spend an average of 2 hours and 32 minutes on social networks, 2
hours and 31 minutes to look at streaming or online videos and 1 hour and 11
minutes to concentrate to music. It also stated that 94 percent of Vietnam users
using the Internet daily and 6% is that the number of individuals who use the

Internet a maximum of once per week. From those statistics, we are able to see that
Internet users in Vietnam are inseparable from Internet-related activities for quite
every week. Moreover, the speed of Internet access still grows per annum.
Specifically, the average speed of internet access on phones was 21.56 MBPS
(which increases 6.1% compared to last year) and on computers was 27.18 MBPS
(which increases 9.7%).
The development of digital technology has changed the business environment.
Marketing isn’t any longer narrow and straightforward as before but being more
intense in competition. Consumers have raised strong awareness about products and
services. Their wishes and requirements are increasingly strict. In addition, the
economic downturn has led to hesitation in consumer’s spending decision, therefor
challenges marketers to settle on a unique marketing method which works and is
also cost-effective. That is why Digital Marketing is the new marketing trend they
need, which is suitable for brand new business environments, new consumers and
modest costs.
In Vietnam, Digital Marketing may be a quite familiar face. Over the past few
years, Vietnamese businesses have been fascinated by using digital channels in
marketing research, customer selection and product promotion. On the other hand,
they have started to use more digital marketing channels to go looking for customer
information, do marketing research and distribute products through various online

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Lớp: CQ55/51.05