Định hướng hoàn thiện hoạch định thị trường chiến lược của doanh nghiệp thương mại nội địa

INTERNATIONAL CONFERENCE FOR YOUNG RESEARCHERS IN ECONOMICS & BUSINESS 2020
ICYREB 2020

DIRECTIONS TO IMPROVE STRATEGIC MARKET PLANNING
OF DOMESTIC TRADE ENTERPRISES

ĐỊNH HƯỚNG HOÀN THIỆN HOẠCH ĐỊNH THỊ TRƯỜNG
CHIẾN LƯỢC CỦA DOANH NGHIỆP THƯƠNG MẠI NỘI ĐỊA

MA, Dao Le Duc
Thuongmai University


Abstract

Strategic market planning is receiving more and more attention from scientists and business
professionals, as the business environment is changing rapidly, more complex and unpredictable.
Strategic market planning is considered to be highly adaptable and flexible, integrating plans of
all levels in the business, thereby achieving market goals, creating and developing a competitive
position. The high growth potential of the domestic market has prompted commercial enterprises
to soon apply strategic market planning, as well as to change technology, improve quality and
diversify products. On the basis of a general assessment of domestic trade, the article focuses on
clarifying the current situation of strategic market planning of domestic commercial enterprises,
thereby considering and proposing some complete solutions this work.
Keywords: Strategic market planning, trade

Tóm tắt

Việc hoạch định thị trường chiến lược ngày càng nhận được nhiều sự quan tâm của các
nhà khoa học và các chuyên gia kinh doanh, khi môi trường kinh doanh ngày càng thay đổi nhanh
chóng, phức tạp và khó lường. Hoạch định thị trường chiến lược được đánh giá là có tính thích

ứng cao và linh hoạt, tích hợp các kế hoạch của các cấp trong doanh nghiệp, từ đó đạt được mục
tiêu thị trường, tạo dựng và phát triển vị thế cạnh tranh. Tiềm năng tăng trưởng cao của thị
trường nội địa đã thúc đẩy các doanh nghiệp thương mại sớm áp dụng hoạch định thị trường
chiến lược, cũng như thay đổi công nghệ, nâng cao chất lượng và đa dạng hóa sản phẩm. Trên
cơ sở đánh giá chung về thương mại trong nước, bài viết tập trung làm rõ thực trạng hoạch định
thị trường chiến lược của các doanh nghiệp thương mại trong nước, từ đó xem xét và đề xuất
một số giải pháp hồn thiện cơng tác này.
Từ khóa: Hoạch định thị trường chiến lược, thương mại

1. Introduction

Research results of many scholars around the world have identified that most successful
businesses have strategies that are effectively planned and implemented (Porter, 2009; Chandler,
1962; Mintzberg et al., 2009). Strategic planning helps to determine the right directions to bring
the company to prosperity. In any business, planning is always a difficult task as thousands of
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variables have to be evaluated and the decisions that lead to success, survival or failure must be
made. For commercial enterprises, the competitors are growing stronger and more fiercely
competitive, the constantly changing needs of consumers and the ability in decreasing input costs
to relatively low that cause planning to become more and more difficult. This poses a problem
for businesses that can plan strategic directions more effectively and more adapt to volatile market
movements (Mintzberg et al., 2009). Accordingly, strategic market planning (SMP) is considered
to be highly adaptable and flexible, integrating the plans of company-level managers (participation
and resource allocation), managers business management (competition, product and market
decisions), and functional administrators (marketing strategies, operations, human resources...

that support market strategy). SMP can be defined as the process by which the firm achieves a
sustainable good fit with its market and broader environment. Therefore, SMP is concerned not
with day-to-day issues but with market issues which are: company wide, high level, long run, irreversible, visionary, infrequent, unique and risky. Many businesses have applied strategic market
planning to varying degrees for more than half a decade as a managerial aid in establishing focus
and direction for an organization, with transformations analytical techniques in implementation.

Over the past years, Vietnam has become one of the most attractive retail markets globally
(ranked 6th in the group of 30 countries with potential and attractive investment in the field.
global retail sector). Total retail sales of consumer goods and services per capita of the whole
country increased by 2.65 times in the past 10 years, from 19.3 million VND / person in 2010 to
51.2 million VND / person in 2019, with the contribution to GDP approximately 8%. In 2020,
despite a decline in purchasing power due to the widespread influence of the Covid-19 epidemic,
the total retail sales of goods in the first 8 months of the year still reached 2,553.6 trillion VND,
an increase of 4% over the same period of year 2019. According to the World Bank, the domestic
market can partially supplement or even counterbalance the foreign market. Up to now, nearly
one-sixth of Vietnam’s population has joined the global middle class (with per capita spending
more than $ 15 per day). At the current rate, each year an additional 1 million Vietnamese will
join this group. This emerging middle class will consume not only more products and services,
but also better quality, requiring domestic firms to improve capacity through efficient use of
resources and innovate and create more. The dynamics of the domestic market have created
opportunities and challenges, thereby prompting commercial enterprises to soon apply strategic
market planning, as well as need to change technology, improve quality, product diversification.
Accordingly, the article focuses on researching and clarifying the current situation of planning
the water safety of domestic commercial enterprises, then considering and proposing some
solutions to complete this work.
2. Theoretical framework

The management planning system started early around 1900 with the content of budgeting
and control (Aaker, 2007). The main focus is on the wrong control of the budget in perceiving
the cyclic external environment in the past. In the 1950s, theory introduced long-term planning,

assuming similar external contexts, and the future could be forecasted based on extrapolating
analysis of economic, technological, cost and business cycle. The primary task of planning is to
prepare the business to grow or shrink revenue based on these trends.
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By the 1960s, scholars assumed that simple trend analyzes based on the extrapolation of
the past are no longer relevant, but need to predict changes in the future market environment.
weak in terms of customers and competitors), to prepare for change. According to Mintzberg &
ctg. (2009), in response to the need for a quicker response planning system to rapidly changing
markets compared to the annual planning cycle, strategic market planning began to go into
business terminology in the 1970s. The foundation of this activity was the continuous review and
analysis of environmental factors, markets, and internal capacities to provide the information
necessary for administrators to identify key strategic problems, as well as operational gaps, and
develop rapid responses to sudden and constant market changes (Reich, 2002). Accordingly,
strategic market planning is a broad or comprehensive approach to corporate school planning
and governance.

In most studies on strategic management, the majority of scholars studying business
planning emphasize the focus of business activities is production and relatively static life cycle.
Therefore, research focuses on product, operations and management of people, equipment,
finance, and the facilities needed to manufacture select products. However, the current trend is
to focus more on the multifunctional integration of the strategic planning process with marketing
and marketing (Peter & Townsend, 1986). With the evidence of a positive relationship between
market strategy and variables such as profitability, performance, the role of market strategy
becomes more prominent, and strategic market planning is received. More critical corporate
assessments (McNamee, 2000). According to Kotler (2003), the focus of business managers

should not only be on providing the best products/services, but on offering the alternatives that
best meets the needs of its chosen market. The transition from quality planning to quality
marketing planning requires senior managers to develop proficient market capabilities or the
active participation of market managers in decision-making (Aaker, 2007).

Strategic market planning is defined as the overall preparation of a long-term strategic plan
with functional supporting strategies, to ensure continuous and interoperability between
enterprises’ objectives and competencies in a competitive environment (Kotler, 2003; Porter,
2009; Reich, 2002). Strategic market planning looks at general decisions about new and existing
products - markets. From a theoretical point of view, these strategic decisions influence a
company’s cash-generating ability and profitability, the long-term success of the business, often
approved by top management, commit to a large amount of physical, financial or human
resources, and affect most areas of the business (Pearce et al., 2018), thereby developing business
markets in a consistent manner, key and long term. Strategic market planning requires decisions
that have a strong, long-term impact on the organization, resulting in later changing or reversing
business strategies that are time-consuming and resources (Aaker, 2007).

An overview from previous studies allows the article to form a model to show strategic
market planning process content (Figure 1). In fact, long-term profits are driven by a series of
short-term profits. However, short-term returns are sometimes maximized at the cost of longterm returns, such as reducing maintenance, training, research and development costs that increase
short-term returns, but possibly reduce long-term profit. This requires that the market managers
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of the business must predict and analyze the trends of the market situation, in order to gain and
exploit the greatest advantage from the market. Without a thorough analysis of internal strengths
and weaknesses, opportunities and threats in the market, it is difficult for businesses to fulfill

their full potential.

Figure 1. The firm’s strategic market planning model

Therefore, analyzing the strategic market situation requires a long duration and degree of
thorough analysis. According to Worrall (1988), strategic situational analysis is the understanding
of an organization’s operating environment and its interaction with it to improve the organization’s
efficiency and performance by enhancing its capacity to intelligently deploy and re-deploy
resources. Strategic situational analysis enables a company to identify and evaluate data related
to strategic planning as well as perceptions of the analyzed external and internal environment.
The research scope of market situation analysis is very wide, requiring enterprises to invest time
and resources thoroughly in collecting and processing information (Nguyen Canh Chat, 2009).
This content includes analyzing and evaluating the overall market: macro environmental factors,
stakeholders, current and potential customers, competitors, as well as factors affecting the market
and business. These information and data are the basis for determining the strategic market of an
enterprise based on the size and growth of the market, its potential sales and profits (Anderson
et al., 2009), and its important role. and the suitability with business goals and conditions (Tran
Thi Hoang Ha, 2012). After identifying and selecting a strategic market, managers need to
establish a TOWS pattern, plan possible strategic options that businesses can implement in
strategic markets, to achieve get a competitive advantage in the market. TOWS model is built on
the overall information that businesses get from analyzing and evaluating existing factors of
opportunities, threats, strengths and weaknesses.
After conducting comprehensive identification and analysis of market and business

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environment issues, enterprises need to plan their objectives and strategies to effectively meet
the strategic market. This requires a long-term vision as well as taking into account the shortterm developments of the market and taking into account the different parameters to plan for
each strategic market (Silverblatt & Korgaonkar, 1987). Strategic market content planning will
often include setting strategic market business goals, identifying viable strategies, selecting and
proposing market supply values, and planning development strategic partnership (Nguyen Canh
Chat, 2009). Here, managers need to establish and build clear, coherent and systematic content
on strategic markets, it is necessary to make appropriate adjustments and differences between
the strategic market segments, to highlight the competitiveness of businesses as well as create
advantages in the strategic market execution phase.

First of all, enterprises need to build a system of strategic market business objectives of
the strategic market based on the current market outlook and business potential. Ensure the
feasibility and challenges of market targets to keep and motivate businesses on the right track in
the strategic market, to achieve higher than expected results (Nguyen Hoang Long & Nguyen
Hoang Viet, 2015). With the defined objectives, based on the possible strategic options from the
TOWS model, the managers will plan the contents of market strategy and competitive strategies
in strategic markets. Marketing and competitive strategy planning is the process of researching
and building a business plan on each market and how to exploit the resources of the enterprise in
the market to succeed, based on deciding a a series of necessary actions (David, 2015). Next,
managers will need to plan the customer supply values in the strategic market, to satisfy the needs
of customers in the strategic market. An important point that businesses need to emphasize is to
provide maximum value to customers, thereby forming loyal customers and a strong competitive
position (Best, 2012). To perform better in providing customer value, businesses need to develop
a strategy to develop partnerships with suppliers and distributors in the market (Anderson & et
al., 2009).
3. Methodology
Overall Design

Inheriting previous studies of Aaker (2007), David (2015), Tran Thi Hoang Ha (2012),
Anderson et al. (2009), Powell (1992) and Kukalis (1991), articles synthesizing and building

questionnaires for strategic market planning of enterprises. To ensure convenience and accuracy
during data collection and analysis, a multi-stage study design was adopted. First, data relating
to the domestic trade in recent years are identified and standardized for collection. Second,
identifying the study sample and sending the questionnaire to the members of the study sample.
Third, gather responses and perform descriptive statistical analysis to clarify the status of strategic
market planning. Fourth, build a number of recommendations to complete this content in
commercial enterprises.
Sample and Data Collection

Data is collected through three forms: emailing, face-to-face personal interviews, and phone
calls with managers who are directly involved in strategic market planning. These forms allow
to collect the status of strategic market planning in commercial enterprises on a large geographical
area in a sufficient time period. The questions developed also ensure that (1) the selected
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administrators who are directly involved in planning, (2) that the administrators fully understand
the purpose of the study and content of the investigation.

The study was surveyed in two cities with the most active commercial activities and the
most freely competitive market, Hanoi and Ho Chi Minh City. The list of commercial enterprises
is searched from General Statistics Office, Statistical Yearbook and Internet Telephone Directory.

The survey was conducted from November 2019 to May 2020, the sampling subjects were
directors or managers who directly participated in strategic market planning at the enterprise.
Before sending the questionnaire, respondents will be contacted first by phone to collect email
addresses, then the survey questionnaire is sent to the sample set in 3 ways; (1) 190 emails were

sent, in which the valid response rate was 49.47%, (2) the questionnaire was distributed directly
to 20 people, the full response rate was 75%, (3) interview by phone with 10 people, the response
rate is 60%. Respondents’ work experience in domestic trade ranges from 3 to 20 years, with an
average of 7.4 years. The businesses surveyed have sizes from 100 to 1500 employees, with an
average of about 630 employees. Thus, with 220 questionnaires sent, 115 administrators
responded, reaching the rate of 52.27%. The response rate is considered acceptable (Zalloco et
al., 1983).
No
1

Table 1. Summary statistics for the sample
Criteria

Quantity

Work Experience
3 – 5 years

17

14,78%

10- 20 years

63

54,78%

6 – 10 years
2

35

Company Size

30,44%

100 - 499

34

29,57%

1000 - 1500

29

25,21%

500 - 999
3

Proportion

52

Total

115

45,22%
100%

Survey questionnaire

Based on previous studies, the survey questionnaire is divided into two main parts about
analyzing the strategic market situation and planning strategic market content. Scale questions
will be designed in a closed format with fixed answer options. To facilitate the research process,
a note explaining the concepts is attached to the email, or explained in person by the author in
personal interview or by phone. The content of the survey questionnaire includes the following
main contents:

a. Analyze the strategic market situation

- Fully identify the environmental variables affecting the business operations of the
business.

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- The collected business environment data and information are up to date and timely.

- Conduct segmentation and strategic market selection to ensure goals and requirements

- To research the market methodically, update information about customers and competitors
in strategic markets
- Practice strategic market analysis and strategic environment analysis

b. Planning goals and strategies to meet the strategic market

- Develop clear and suitable long-term goals and orientations for strategic markets

- Market and customer-oriented strategic market objectives

- There are administrators and / or departments for strategic market planning.

- Market strategies and competitive strategies that are consistent with the strategic market
objectives.
- Suggest suitable and differentiated supply value for strategic markets

- The partnership is maintained and sustainably developed in strategic markets

4. The current situation of strategic market planning of commercial enterprises

4.1. The current context of domestic trade

GDP growth in 2019 achieved impressive results with an increase of 7.02%, of which trade
continued to maintain a high and stable growth rate, with the total retail sales of goods and services reaching 4,940.4 thousand VND billion, up 11.8% compared to 2018, reflecting high domestic demand in recent years (General Statistics Office, 2020). Total retail sales of groups with
high growth were mainly essential goods such as food, food (13.2%), household appliances
(11.3%), and apparel (10.9%), cultural and educational products (14.4%). This leads to very positive comments about the development potential of the domestic commercial market in the coming
years for commercial enterprises in the market.

One of the factors driving domestic trade to rapidly develop is the distribution system and
commercial infrastructure. It can be clearly seen that in recent years, the distribution network
and various types of commercial infrastructures (markets, supermarkets, shopping centers,
convenience stores ...) continue to be invested, upgraded and expanded (Dinh Van Son, 2020).
Along with traditional commercial infrastructure (markets), modern types of commerce such as

supermarkets, shopping malls and convenience stores are playing an increasingly important
position in the consumer choice and shopping of people, even in suburban areas.

The market for essential goods remained stable. Although there are fluctuations in some
products, in general, there have been signs of recovery in 2018 and 2019, meeting the needs of
both the domestic market and for export. The proportion of Vietnamese goods in domestic
supermarkets has always remained at a high level, from 80% to 95%. As for traditional retail
channels, the proportion of Vietnamese goods in convenience stores and markets accounts for
more than 60%. Along with the development of supermarkets, convenience stores, and points of
sale to stabilize the market, Vietnamese products have been brought to consumers more and more.
Favorable policies together with domestic market development campaigns have created a very
positive effect for consumers to prioritize looking for Vietnamese products and services.
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E-commerce in recent years is also developing very quickly with the number and value of
transactions becoming much larger than before, reaching the size of the e-commerce market in
2018 8, USD 06 billion, up 30% compared to 2017 (Department of E-Commerce and Digital
Economy, 2019). With the number of Internet users of about 59.2 million people (accounting for
60% of the population) and 35 million smartphone users, Vietnam’s e-commerce market is giving
many favorable conditions to businesses and individuals with space multiplication to develop
domestic trade. The above analysis shows a great opportunity for businesses to further develop
their business activities in the domestic market in the coming time.

Vietnam’s retail market in recent years has been operating quite actively with the
participation of more and more domestic and foreign enterprises with greater financial potential
and investment. The year 2019 witnessed the strong development of modern retail models such

as convenience stores, supermarkets, and commercial centers instead of traditional models such
as markets and department stores. Some domestic retailers that have grown strongly and
successfully include Vinmart, Saigon Coop Mart, Satra, Vissan, and Hapro. The retail market has
also seen the arrival and departure of many retail names, but brands that are planning and
developing a strong strategy are Aeon, Lotte and the upcoming brands such as CJ. and Emart of
Korea, Central Group of Thailand.

According to Savills (2020), only the two largest markets in Vietnam, Hanoi and Ho Chi
Minh City, the total supply of retail space is more than 3 million m2, an increase of about 1314% compared to in the same period last year. In the last 2 years, the number of shopping centers
has continuously increased to serve the needs of people for shopping and entertainment.
Increasing retail density in CBDs and new urban areas makes businesses aware and change the
structure of products and services and business orientation in the future. According to Savills
(2020), by the end of 2021, the Ho Chi Minh City market will supply about 390,000 m2 more,
and Hanoi will provide about 241,000 m2 of premises. Most of these are located in the non-CBD
area, showing adjustments in firms’ performance.

With the attractions of the domestic retail market, many foreign retailers with great capacity
such as Aeon, Lotte, Big C ... are gradually expanding and developing retail systems, after a long
time of researching and testing the market, gradually grasping the tastes and consumption habits
of the people, thereby making suitable business strategies and expectations, increasing
competition with domestic retailers. This makes the domestic commercial market become more
competitive, and gradually more professional with capable businesses that actually grow. In recent
years, the market has seen many businesses withdrew from the market such as Shop & Go,
Fivimart, Giant, and Auchan, as well as acquisitions and expansion by corporations such as
Masan, Saigon Co op Mart.

With rising incomes, with a rapid adaptation to modern consumption trends, domestic
consumers are increasingly demanding in purchasing and consumption. They aim to experience
more in the selection and shopping with a more diverse demand for quality goods and services
at commercial centers, as well as at regular retail points. Recent studies, like Nielsen Vietnam,

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show that 47% of consumers like to experience new products, and the number of loyal customers
is only 7%. This shows that customers in the current market are not loyal to brands is becoming
commonplace. When buying a product, customers consider a lot, when on average they consider

about 5 brands before deciding to buy the product. Notably, customers consider the value they

get when they spend money to buy the product, not just the price. Then comes the quality, features

and specialties in the current era is the simplicity and convenience because they are very busy.

Besides, consumers are also interested in the brand’s community value. This can be seen as a
fairly new trend and is being endorsed in the Vietnamese market, when a preliminary survey
shows that corporate community and business transparency will help the brand impress users.

Local customers are also spending more on products sold on online channels (online). They

are realizing that this method has many promotions, convenience, saves time, and can shop across

borders, buy in Vietnam or abroad very easily. Accordingly, consumers, especially the young,

use non-cash payment services increasingly, not only through online channels but also in modern

retail channels such as supermarkets, shopping malls, and convenient shops.

4.2. Reality of strategic market planning of trade entrepreneurs

4.2.1. Current situation of analyzing the overall market situation and determining the strategic

market of commercial enterprises

Market situation analysis plays the role of providing necessary data for the strategic market

planning phase, as well as the execution of future strategic market contents. Currently, most
commercial enterprises are increasingly aware of the importance of market information to the

effectiveness of their business in the market. Accordingly, the administrators have guided and
directed more closely in collecting information about the business environment both outside and

inside the enterprise to identify factors of opportunities, challenges, strengths and weaknesses

faced on the strategic market segment expected. The survey results show that, nearly 90% of the

interviewees said that their businesses have fully identified environmental variables such as

economy, politics - law, culture - society, technology, customers, and competition affects business

activities in the market. Administrators also evaluate the data and information about the business

environment collected to be kept up-to-date and timely with the business requirements of the

departments and individuals, and with changes of the market. The analysis and review of external
environmental factors help the company track and evaluate the changing factors of the general

market context. This has greatly assisted in making decisions and implementing work in reality.

Obviously, the business market of any business is always changing, so if you do not conduct

regular market research to update information, it will be difficult for businesses to grasp the
general market situation and strategic market situation to have timely responses.

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Source: Investigation result

Figure 2. Situation analysis of strategic market situation of trade enterprises

* The Likert 5 scale was used, with “1” being the least satisfied, and “5” being the most
satisfied.

Based on the general information and description of the overall market, in general managers
have segmented and selected strategic markets. According to the research sample, strategic markets are segmented and established to ensure the goals and requirements set in the general business, when nearly 80% of respondents rated at the level of agreement. and completely agree. The
survey also shows that the current enterprises have gradually conducted market research methodically, systematically, updated information on customers and competitors. Data about customers
and the influence of different customer groups on sales, distribution channels, and marketing programs are closely watched and directed by businesses to collect and process. Information about
competitors is also identified, localized and investigated by analysts, gathered through reliable
sources such as internal investigative information sources, external expert reports, Industry reports, and data from the General Statistics Office and the Ministry of Industry and Trade. The information obtained from these sources according to the interviews of administrators, the relevant,
accurate and up-to-date level must be at 65-70% of the administrator’s need.

The conduct of market research more and more seriously allows enterprises to practice analyzing strategic market and analyzing the strategic environment carefully, carefully and with
better results. Some businesses have applied analytical tools such as TOWS and BCG in market
research to more accurately assess and evaluate the current strategic market situation. However,

the number of application units is not really large, as up to 75% of enterprises surveyed currently
do not perform TOWS or BCG analysis in their business activities. The survey also shows that
more than 80% of current managers grasp and follow the process of strategic market analysis
and have directions to correct problems that may arise in this activity. However, quite a lot of
businesses today still do not understand the differences in the market segments in order to make
responsive decisions for each strategic market segment in accordance with their characteristics.
Only a handful of managers believe that they fully understand the characteristics of each strategic
market. The main characteristics that businesses clearly grasp are spending levels of customer
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groups, size of purchase, popular locations to buy, etc., and the level of grasp of markets, customers and partners. There are also differences between firms.

4.2.2. The status of planning goals and strategies to meet the strategic market of commercial enterprises

a. The status of strategic market business strategy goal planning

According to the survey results, the business goals are carefully selected, ensuring the feasibility and challenge of fulfillment requirements in each market, and at different levels. This is
demonstrated when nearly 70% of interviewees said that their business has built clear and suitable
long-term orientations and goals for strategic markets.

Source: Investigation result

Figure 3. Current status of building long-term goals for strategic markets

Most businesses are oriented towards building strong competitiveness and sustainable development in the market. In-depth interviews with executives at prominent enterprises such as
Hapro, Vin Mart, Aeon, long-term goals built with customer and market oriented, according to

three key points: (1) reduction supply and production costs are based on close connection with
suppliers, production regions, (2) building a system of convenient distribution points in providing
goods and services to the market, (3) reasonably diversify new product models to add value to
the product. However, it can be seen that the long-term goals that have been built do not really
highlight the important differences between different customer groups, or the changing adaptation
of strategic markets. This is because many management positions do not really have a full understanding of the business environment and market, and understand the capabilities of their business units. Survey results show that more than 69% of managers only cover activities in their
fields, but do not have an overall view of the entire operation of the business, as well as have
good connections with other parts. Therefore, the construction of targets based on an imposing
one-way process has caused many administrators to lack review and discuss the assumptions on
the stock market, so it is not possible to define the individual customer base for each stock exchange, as well as lack of adaptation to market situations.

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b. Situation of market strategy and competitive strategy for strategic market

With the awareness of the importance of strategic market planning, the managers of commercial enterprises have now researched and proposed market strategic directions and competitive
strategies for the above enterprises. strategic market. However, the actual investigation results
show that the level of strictness and normality in this content is not really high and popular. Only
about 30% of businesses have long-term market strategy plans, the rest only stop at annual or
short-term planning in strategic markets (2-3 years), and there are still few units have almost no
directions and market strategy documents. With such limitations, so many businesses do not really
have a clear division of managers and/or specialized departments for strategic market planning
activities. The content of strategic market planning is mostly integrated in the documents of general plans and strategies. The survey results show that only 11% of businesses have managers
who are responsible for and closely follow strategic market planning content, while the number
of businesses with managers and/or ministries part-time and integration of strategic market planning tasks and businesses that do not have this department account for 61%.

Source: Investigation result

Figure 4. Current state of resources for strategic market planning

c. The real situation of customer supply value for the strategic market

Commercial enterprises depend on their size, field of operation, capacity to choose and position certain values to provide customers. Preliminary investigation shows that managers are
based on the wants and needs of customers to choose and provide values for customers. Most of
them have done a list of information customers need to track and predict about current and future
needs and wants. Based on the data obtained from customer analysis lists, strategic market managers made careful assessments of the value and relevance of the proposed customer values, as
well as examining the actual ability of the internal business to plan the value supply to customers
in the strategic market.

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Source: Investigation result

Figure 5. Degree of perceived differences in the value of supply to strategic markets

The survey results show that 100% of enterprises carry out identification, selection and

positioning of supply value in strategic markets. However, the level of difference of customer

values that businesses choose to supply is not much between strategic markets, and there is not

really any homogeneity of customer value analysis and assessment methods. Only 12% of respondents think that the proposed value of supply is appropriate and different for strategic mar-

kets, while this figure is 36% and 52% respectively for the two “suggested supply value, there

are some differences for strategic markets” and “not making differences to strategic markets”.

This is shown through most businesses trying to provide the basic customer values such as “for

people”, “low cost”, “quality”, “reputation”, “brand”, “satisfying customers’ choice”, “conve-

nience”, “freshness”, and “style”. Thus, it can be seen that managers have somewhat basic think-

ing and methods in identifying, analyzing, forecasting and selecting customer values, but applying

it to the practice of the enterprises’ planning on the market are not really scientific, methodical

and professional.

d. Situation of partnership development strategy planning

To operate a smooth flow of goods, access to customers smoothly, and expand markets,

businesses need to build and develop a good relationship with suppliers and distribution inter-

mediaries. At this point, it can be said that this partnership is considered an intangible asset of

the business, holding an important position in all areas of the business, as it directly affects quality

of product/services, supply methods, thereby affecting business results of enterprises. Therefore,

all businesses have been closely involved in cooperating and keeping relationships closer. In re-

cent years, businesses have made judgments, analyzes and assessments to better understand the

strengths, limitations as well as the needs and desires of suppliers and distributors. plan appro-

priate relationship management and communication methods. This helps them plan the basics of

how to work with partners, follow the business operation process, from purchasing to production

and selling in the market.

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Source: Investigation result

Figure 6. Current Status of Partnership Development in Strategic Market

5. Orientation to plan in the future

With the current situation in strategic market planning, in order to complete this content,
commercial enterprises can synchronously deploy a number of solution orientations as follows:

Firstly, in order to effectively plan a strategic market, enterprises need to perform well the
analysis of the strategic market situation, to be able to fully and accurately assess and evaluate
developments, changing the development trend of the market, the competitive environment and
the business landscape of the business. Accordingly, the strategic market managers can allow the

application of a number of strategic environmental analysis tools such as integrated analysis
models of external factor environmental (EFE) and the internal factor environment (IFE), the
SPACE matrix, the BCG matrix, the GS matrix, the TOWS matrix. Based on these tools, along
with regularly collecting and updating information, strategic market managers will have the
amount of data needed to plan and adjust strategic markets.

Second, setting up reasonable long-term strategic market targets is important and necessary
for the deployment of corporate action content in strategic markets. Therefore, executives should
formulate long-term strategic market goals with consultation from the five approaches to which
are senior executives, shareholders, the business itself, competitors and environment. Consultation
from these five groups allows managers to have a more complete view of their current business
performance, as well as future growth prospects. Managers tend to be loyal to previous goals,
shareholders want to outpace existing results such as sudden growth, competitors act as target
parameters, the business itself plays a fundamental role, and the environment reflects what to do.
Therefore, in the process of setting long-term strategic market goals, enterprises need to do this
at all three strategic levels within the enterprise to ensure connectivity, inheritance and
synchronization across markets. strategy.

Third, in market strategy planning and competitive strategy, managers need to quickly
update and apply the knowledge of modern business administration. Since then, there is the right
understanding and application of the process of strategic planning, models and tools for strategic
selection in the context of technology 4.0 and the current broad level of economic integration.
Along with that, the selected strategic plans need to have discussion and evaluation of managers
in the business, from the Board of Directors, the Board of Directors to the administrators at all
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levels. The economic arguments of each strategic plan must show the great economic benefits
that the strategy brings and the feasibility of that plan. The selected strategic plans also need to
create a superiority in the capabilities of the business and differentiate from competitors.

Fourth, when identifying the strategic market, enterprises must choose and supply values
that match the wishes of customers in each strategic market. This requires businesses to clearly
identify customers’ needs, motivations, habits and buying behavior. Accordingly, businesses need
to build a clear step-by-step plan, through each stage, what changes, how will customer values
need to be changed, upgraded, and renewed in the strategic market. Strategic market managers
need to answer the questions “what determines customer value in many different segments”, “how
customer value is measured”, “how information technology can be used to increase customer
value”,”how current trends in customer value affect supply positioning”, “smart pricing strategies
can be used to enhance performance”. Offering an answer to these questions is that the business
has selected for itself distinct values for the strategic market segment, thereby giving the
appropriate positioning quality through its marketing efforts.

Fifth, businesses need to organize their supply chain and manage a cooperative supply
chain. Cooperation in the supply chain will encompass the full commitment of time, information
sharing, risks and bilateral benefits from the relationship. Accordingly, managers can follow a
number of things such as: (1) information on consumer demand is widely shared among all
stakeholders in the supply chain, (2) using media Joint transport to maximize the efficiency of
two-way transport and streamline routes to reduce transportation costs, (3) rural areas will also
have distribution centers with the same role as distribution centers in the city, (4) points of
distribution will be conveniently located to deliver goods to consumers quickly, such as delivery
to residential retail locations, or delivery points of high building…

6. Conclusion

The changing business environment is clearly putting businesses in a adaptive spiral to
compete. Strategic market planning is seen as an effective tool to ensure a successful business’s

long-term market directions. However, this is not a simple piece of content, and the effective
adoption of the real-world planning process will often take weeks or longer (gathering information
is a year-round process). Therefore, businesses need to carry out strategic market planning bit by
bit and more accurately and ensure full awareness of the importance of strategic market planning
at all levels of the organization.

In this article, the author has assessed the current state of strategic market planning of
commercial enterprises. Based on the assessment results, a number of recommendations for
solutions have been raised such as enhancing the effectiveness of strategic market climate analysis
tools, increasing supply chain integration, and multi-stakeholder outreach. in setting long-term
strategic market goals... Besides the above results, this study still has certain limitations: firstly,
the research has not yet established a quantitative scale to consider the the impact of strategic
market planning on the business results of enterprises in the market; Second, the article has not
assessed the factors affecting the effectiveness of strategic market planning. The limitations and
results of this study may suggest some further research directions such as building a scale to
assess the impact of strategic market planning on commercial firms’ business results.
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