Business executives at a forum held in HCM City on March 2 discuss the use of technology at their companies (Photo: VNA) HCM City(VNA) - Enterprises must adopt new business models and create value beyond theexpectations of customers to succeed in today’s competitive, fast-changingenvironment, delegates said at a forum held in HCM City recently.
Tran Anh Tuan, CEO of Pathfinder, who specialises in market research, brandstrategy and communication, said the IT boom had transformed many aspects ofdaily life, including the way consumers interact with businesses.
“The world changes every day, especially marketing tools. If we only usetraditional marketing tools, it will be difficult for us to grow,” he said.
The marketing strategies recently focus on an “omni-channel” since customersinteract with businesses via multiple channels, he said.
Previously, customers visited brick-and-mortar shops to buy products. Now,consumers can engage with a company in a physical store, on an online websiteor mobile app, or through social media.
“The problem is how to turn them into loyal customers,” he said.
The term “omni-channel strategy” refers to a significant shift in which marketers enhancethe customer experience, regardless of channel or device.
Though many new Vietnamese businesses have been established, many of them facedifficulties because their branding is weak, according to Tuan.
They have not developed a long-term strategy and their business models have nocompetitive edge.
In addition, distribution systems are a crucial weakness of Vietnameseenterprises due to financial limitations
Businesses are losing customers because they have not caught up with new trendsand have not applied modern management technologies, among other reasons.
An Ha, CEO of AntBuddy, said that businesses had not employed effectivemeasures to retain customers. "The trend today in business is to reachcustomers at any time or any place," Ha said.
Tuan pointed out that businesses were still only focusing on products andservices and not their business model.
Since products and services can be similar among businesses, companies need toclearly differentiate their offerings to attract more customers.
“Traditional enterprises should look at their business models to improve theircompetitiveness,” he said.
Nguyen Phi Van, a global franchise expert, said businesses must strive to bedifferent and not settle for the same experiences that competitors areoffering.
Companies need to use digital technologies with their existing products andservices to create value that extends beyond customer expectations, she said.
“Our internal capacity and management still lag behind foreign firms, buttechnologies can help us have greater advantages in the future,” she said.
Tuan said that while inexpensive digital tools have been created for smallenterprises, the “most important thing is to make the right investment intechnologies, process and people.”
Organised by the Business Association of High-Quality Vietnamese Products, theforum included a talk show on young businesspeople, digital technology used inbusiness management, and a discussion on startups.-VNA
Tran Anh Tuan, CEO of Pathfinder, who specialises in market research, brandstrategy and communication, said the IT boom had transformed many aspects ofdaily life, including the way consumers interact with businesses.
“The world changes every day, especially marketing tools. If we only usetraditional marketing tools, it will be difficult for us to grow,” he said.
The marketing strategies recently focus on an “omni-channel” since customersinteract with businesses via multiple channels, he said.
Previously, customers visited brick-and-mortar shops to buy products. Now,consumers can engage with a company in a physical store, on an online websiteor mobile app, or through social media.
“The problem is how to turn them into loyal customers,” he said.
The term “omni-channel strategy” refers to a significant shift in which marketers enhancethe customer experience, regardless of channel or device.
Though many new Vietnamese businesses have been established, many of them facedifficulties because their branding is weak, according to Tuan.
They have not developed a long-term strategy and their business models have nocompetitive edge.
In addition, distribution systems are a crucial weakness of Vietnameseenterprises due to financial limitations
Businesses are losing customers because they have not caught up with new trendsand have not applied modern management technologies, among other reasons.
An Ha, CEO of AntBuddy, said that businesses had not employed effectivemeasures to retain customers. "The trend today in business is to reachcustomers at any time or any place," Ha said.
Tuan pointed out that businesses were still only focusing on products andservices and not their business model.
Since products and services can be similar among businesses, companies need toclearly differentiate their offerings to attract more customers.
“Traditional enterprises should look at their business models to improve theircompetitiveness,” he said.
Nguyen Phi Van, a global franchise expert, said businesses must strive to bedifferent and not settle for the same experiences that competitors areoffering.
Companies need to use digital technologies with their existing products andservices to create value that extends beyond customer expectations, she said.
“Our internal capacity and management still lag behind foreign firms, buttechnologies can help us have greater advantages in the future,” she said.
Tuan said that while inexpensive digital tools have been created for smallenterprises, the “most important thing is to make the right investment intechnologies, process and people.”
Organised by the Business Association of High-Quality Vietnamese Products, theforum included a talk show on young businesspeople, digital technology used inbusiness management, and a discussion on startups.-VNA
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