LUẬN VĂN CAO HỌC Hoàn thành chiến lược Marketing cho ngân hàng BIDV chi nhánh Yên Bái THESIS MBA TITLE ACCOMPLISHMENT OF MARKETING STRATEGY FOR THE BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM - YENBAI BRANCH TABLE OF CONTENTS TABLE OF CONTENTS LIST OF FIGURES INTRODUCTION The imperativeness of the topic: Purpose of research: Subjects and scope of research: Methods of research: Contributions of the graduation paper: .9 Struture of graduation paper: CHAPTER I: METHODOLOGY OF MARKETING STRATEGY OF THE COMPANY10 1.1 BUSINESS STRATEGY OF THE COMPANY: 10 1.1.1 Concept and essence of business strategy: 10 1.1.2 The characteristics of business strategy: .12 1.1.3 The role of business strategy: .13 1.1.4 Business strategy system of enterprise: 13 1.1.4.1 Levels of strategy in enterprise: 13 * 14 Note: SBU (Strategic Business Unit) .14 a, Enterprise-level strategy: The strategy to answer the question: What business field will enterprise be located in? Position of enterprise on the environment? Role of each industry in the enterprise? The business-level strategy for any enterprise must be built 14 1.1.4.2 Strategic types in enterprise: .14 1.2 BASIC CONTENTS OF MARKETING STRATEGY: 17 1.2.1 Definition and role of marketing strategy: 17 1.2.2 Steps of building marketing strategy: 17 1.2.2.1 Establishing marketing targets: 17 1.2.2.2 Choosing target market: 18 1.2.2.3 Building strategic orientation: .18 1.2.2.4 Forming marketing strategy: .18 1.2.2.5 Building marketing programs: .18 1.2.2.6 Control result of implementing Marketing strategy: 19 1.2.3 Marketing-Mix: 21 1.2.3.1 Definition of Marketing-Mix: .22 1.2.3.2 Content of Marketing-Mix: 22 1.3 BANK MARKETING STRATEGY 27 1.3.1 Characteristics of bank marketing strategy and its impact on marketing strategy 27 1.3.1.1 Characteristics of bank marketing: 27 1.3.1.2 Characteristics in bank business activities: 30 1.3.2 Mixed marketing strategy in banking: 31 1.3.2.1 Product strategy (P1): 31 1.3.2.2 Price strategy (P2): 34 1.2.2.3 Place strategy (P3): 35 1.2.2.3 Promotion strategy (P4): .36 1.4 MODELS USED IN ANALYSIS: 38 1.4.1 P.E.S.T analysis model: .38 1.4.2 Model of Michael Porter's five pressures: .39 1.4.3 S.W.O.T analysis model: .40 CHAPTER II: ANALYZING AND EVALUATING CURRENT BUSINESS AND MARKETING STRATEGY OF THE BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM – YENBAI BRANCH 42 2.1 OVERVIEW ON BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM YEN BAI BRANCH 42 2.1.1 Formation and development: .42 2.1.2 Functions and Responsibilities .44 2.1.3 Management organizational structure and operation of branch 45 2.1.4 Operation result of BIDV Yen Bai .49 2.2 ANALYZING FACTORS IMPACTING ON THE MARKETING STRATEGY OF THE BANK FOR INVESTMENT AND DEVELOPMENT – YENBAI BRANCH: 52 2.2.1 Analyze P.E.S.T: 52 2.2.1.1 Law and political environment (P): .52 2.2.1.2 Economic environment (E): 53 2.2.1.3 Social culture environment (S): 55 2.2.1.4 Scientific and technological environment (T): 55 2.2.2 Analysis under Model of pressures of Michael Porter: .56 2.2.2.1 Current competitors: 56 2.2.2.2 Potential Competitor: 58 2.2.2.3 Capacity of buyers (Capacity of customers) .59 2.2.2.4 Capacity of supplier .60 2.2.2.5 Replacing products 61 2.3 ANALYZING AND EVALUATING THE CURRENT MARKETING STRATEGY OF BIDV YEN BAI: 62 2.3.1 Market segment, target market selection, product and service position: 62 2.3.1.1 Analysis of market share and market: 62 2.3.1.2 Current customer group and market approach orientation: 64 Based on current customers and forecasted customers, in the next years, BIDV Yen Bai should have a policy of customer management and care for each business field and each customer group to maintain and develop the customer base stably and sustainably 66 2.3.1.3 Target market: .66 2.3.1.4 Positioning products and service: 66 2.3.2 Current marketing strategy of BIDV Yen Bai: 67 2.3.2.1 Product strategy (P1): 67 2.3.2.2 Price strategy (P2): 69 2.3.2.3 Place strategy (P3): 71 2.3.2.4 Promotion strategy (P4): .72 2.3.3 Evaluating current marketing strategy of Yen Bai BIDV: 73 2.3.3.1 Evaluating through S.W.O.T analysis: 73 2.3.3.2 Analyzing weak points of current marketing strategy and the reasons: .76 * Reasons: 78 CHAPTER III: SOME SOLUTIONS TO ACCOMPLISHMENT OF MARKETING STRATEGY OF BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM YEN BAI BRANCH 81 3.1 BUSINESS STRATEGY OF YEN BAI BIDV IN THE PERIOD OF 2010-2015: .81 3.1.1 Target and mission of BIDV: .81 3.1.2 Targets, missions in business strategy of Yen Bai BIDV: 82 3.1.3 Specific strategy targets by 2015: 83 3.1.3.1 The period of 2010-2012: 83 3.1.3.2 The period of 2013-2015 .84 3.1.4 Some group and functional strategies proposed: 84 3.2 SOLUTIONS TO IMPROVE MARKETING STRATEGY, CONTRIBUTING TO OVERALL BUSINESS STRATEGY OF YEN BAI BIDV: 87 3.2.1 General solutions: .87 3.2.2 Specific solutions in each period 90 3.2.2.1 Capital mobilization activity: 90 3.2.2.2 Credit activity: .92 3.2.2.3 Service activity: 93 3.2.3 Other solutions under mixed marketing strategy model: .94 3.2.3.1 Measurements in person (P5-Personal): 94 3.2.3.2 Solution on process (P6-Process): .97 3.2.3.3 Condition measure on material environment (P7-Physical Evidence): 97 CONCLUSION 98 * Recommendations: 101 REFERENCES: 103 LIST OF FIGURES Figure 1.1 Characteristics of business strategy .12 Figure 1.2- Levels of strategy in enterprise: 13 Figure 1.4- Model of Michael Porter's five pressures 39 Figure 1.5 SWOT-matrix model .40 Figure 2.1- Organizational Diagram of BIDV Yen Bai 46 Figure 2.2- Result of business activity from 2005 to 2009 of BIDV Yen Bai .50 Figure 2.3 Map of Bank network and Bank operation situation in Yen Bai Province in the period 2005-2009 .56 Figure 2.3b: Competitive Image Matrix of banks in Yen Bai 58 Figure 2.4- Market Share of capital mobilization of the branch during 2005-2009: 62 63 Figure 2.5- Credit market share of the branch during 2005 and 2009 63 INTRODUCTION The imperativeness of the topic: Vietnam is a developing country in the process of active and intensive integration into the regional and international economy In order to meet demands of integration, domestic commercial banks are speeding up its structural rearrangement, financial reinforcement, network development, and preparing for equalization, strategic planning for an active integration, etc in order to enhancing completive capacity These are basic preparations because banking is one of crucial point in the economic integration Together with equalization for extensive integration in order for a modern bank which operates according to normal banking practices with enough strength and competitive capacity for sustainable existence and development, and at the same time, states its position, brand and real image in the long term, Bank for Investment and Development of Vietnam (BIDV) needs to renovate in thinking, business operation, management and makes through-breakings for its development In addition to mapping out business strategy of the unit, marketing activities play a very important role in the bank’s success In the current market economy of fierce competition, it is difficult and complicated to map out a successful marketing strategy It is even more difficult to gain pre-eminence of products With the purpose of putting theory into strategic management and marketing, the bank applies this into the situation of its subsidiary - Bank for Investment and Development of Vietnam - Yen Bai Branch (BIDV Yen Bai ) Moreover, with the desire to partially contribute to completing Marketing strategy of Yen Bai BIDV in order to fully meet all customers’ demands, carry out business given targets and strategies well, we, the 10 group have chosen the subject of “Improvement of Marketing strategy for Yen Bai Branch - Bank for Investment and Development of Vietnam” Purpose of research: - To apply theory in strategic management and bank marketing to propose measurement system to fulfill marketing strategy of - BIDV Yen Bai - Research (make clearly) the nature of marketing in banking activities and methods of choosing suitable tools for marking to set suitable solutions in marketing strategy - Make clear and apply theory of strategic management and marketing in business operation of BIDV - Yen Bai Subjects and scope of research: Subjects of research: Current business and marketing strategy of BIDV - Yen Bai Scope of research: to study and analyze business and marketing strategies of banking products and services currently carried out at BIDV - Yen Bai Methods of research: The used method is quantitative, specific as followed: - Specialist method; - Annalistic and comparative method; - Statistic and economic analytic method; To collect information from reports, media means, socio-economic development plans at local, sectoral and national scale The researching method of using annalistic models such as SWOT, marketing-mix, etc in marketing service, analysing internal and external environment, marketing segmenting as well as identifying targeted markets Data: To use collective method through customer sastifaction questionares, synthetize opinions from Customer Association through reports of the current functional sections (especially feedback opinions from customers, report on handling of functional sections, ect ) Tools of handling: analysis, comparison and synthesis Contributions of the graduation paper: - To systematize fundamental issueses on theory of strategic manegement and banking marketing - To propose some solutions for accomplishing marketing strategy of commercial banks in general and BIDV Yen Bai in particular - To prove the effiencency of banking marketing theory in pratice Struture of graduation paper: Beside INTRONDUCTION and CONCLUSION parts, the report is devided into chapters, including: Chapter I: Methodology of marketing strategy of the company Chapter 2: Analyze and assess current business and marketing strategy of BIDV Yen Bai Chapter 3: Some solutions to accomplishment of marketing strategy of BIDV Yen Bai CHAPTER I: METHODOLOGY OF MARKETING STRATEGY OF THE COMPANY 1.1 BUSINESS STRATEGY OF THE COMPANY: 1.1.1 Concept and essence of business strategy: Strategic concept was from ancient Greece, the term which derives from the profound military To around 330 BC, that is ancient Greek times, the strategy refers to the management skills to exploit these forces to crush the enemy and to develop a system of overall administration In human history there are many theories of the military as Sun Tzu, Napoleon, Alexander mentioned and wrote about strategic on many different points of view " Basic views of the strategy is a adversary party can crush opponent even it is more powerful opponent, if they can lead the battle and put opponent on the battlefield advantage for the implementation of their abilities " In today's business world, business strategies are particularly interested and considered the strategic construction as platform for the activities of enterprises (in the United States if in 1947 only 20% of enterprises had business strategy come to 1970 had 10 or human resource strategies need to extract a suitable proportion in order that marketing strategies have necessary and sufficient human resources ro exist and develop flowingly Tenth: Strengthen and promote activities in supervising, controlling process and results of marketing strategies: Controlling, supervising must be taken comprehensively in all aspects, achieving goals, products’ adaptation and control the strategies comprehensively Goals should be more specific to fit each term, period and implementation program Assessment of implementation results should also update For products, marketing program which not achieve given goals, not satisfy customers’ demand, they should have their mistakes shown out clearly for correction or deleted, if required Controlling, assessing Marketing strategies should be taken comprehensively in such major content: Are goal system given satisfied or not? Is policy system effective or not? And how is strategies’ comprehensive effectiveness? 3.2.2 Specific solutions in each period 3.2.2.1 Capital mobilization activity: A, Strategy target: - Focus on promoting local capital mobilization - Ensure capital safety (count liquidity and actual term balance) - Peg and expand market share – market, raise capital in provincial area, create stable and unshakable fund sources; - Apply and deploy products of new fund raising of BIDV in accordance with customers in provincial area b, Special targets by 2015: - Fund raising resources in localities make up more than 62% of total business resources of branch; - Average speed of growth of fund raising during the year: 22%; - Long-term share resources make up 50% of total capital resources; 90 - Organizational deposit mobilization structure/population deposit mobilization: 25%/75%; - Fund mobilization market share until 2015 makes up more than 35% of total mobilization fund resources in provincial area c, Specific resolutions in marketing: c1, Solution group with product, price: -Yen Bai BIDV must carry out to market segment in accordance with target, define more clearly and accurately with target market, subject/demand/taste of customers to build product development orientation, mobilize suitable funds Base on that develop demand research work as well as demand change trend of target customers to complete products suitable with customers’ demand and expectation in Yen Bai area - Research and develop high loose products to base on new deposit product which BIDV deploy - Use exact and legal valuation instruments, give long-term interest level in accordance with customers, protect rights for customers who send money, especially long-term deposit - Have specific interest policy with major customers, traditional customers, favor transfer service charge with individual customers, economic organization who has big credit deposit in order to maintain and ensure established fund resources in business activities c2, Solution group in distribution, development, communication: -Consolidate the quality of traditional distribution channel, especially the quality of transaction officers, transactors at savings bank, transaction place where contact directly with customers - Build and deploy development project of branch network upgrade (2010-2015) to absorb savings deposits in population, contribute to promote mobilization fund resources 91 - Use and take advantage of resources from fund mobilization channels through resources of foreign banks which BIDV is Head of wholesale such as JBIC, AFD to meet demand long-term and medium-term loan of small and medium-sized businesses in Yen Bai area 3.2.2.2 Credit activity: Credit is major earnings activity of YEN BAI BIDV Income from credit activities make up 80-85% of total income of branch a, Strategy targets: - Credit growth and safety- efficiency are associated; - Build unshakable customer resources, choose business customers effectively, meet enough fund demand for business activities of customers; - Deploy and carry out effectively assessment work of internal credit classification in order to have policies in accordance with customers; - Enhance credit activity effect, ensure interest rate differential between inputoriented budgeting in credit activities make up more than 2%/year b, Specific targets by 2015: + Average speed of account outstanding growth of the period 2010-2015: 20%; + Credit account outstanding density in total assets until 2015 over 95% + Credit market share until 2015 makes up more than 33% c, Specific solutions in marketing: - Diversify types of credit products, priority market orientation of individual customer block; bind credit growth with bank services development; - Use sale methods according to product packet, meet diversified and specific demands of customers Such as deploy credit products attached with insurance services… 92 - Must calculate carefully factors which affect price such as interest, difference in price, price policy of competitor … with the purpose of giving suitable price level for credit products which are being supported in order to ensure the right of customers - must carry out price discrimination with each customer; carry out preferential policy with major customers, traditional customers Should have loan interest rate policy with each career or more detailed with each terms, shouldn’t apply inflexibly according to types of loan (short-term, medium-term, long-term), with purpose of being more suitable with trading mechanism of current funds of head office 3.2.2.3 Service activity: a, Strategy targets: - Being the Bank has the best service quality in area; - To meet the best service demands of finance-banking in provincial area make up over 50% - Develop new services such as: electronic banking service (internet/phone banking, ATM, POS/EDC, customer consultancy service, fund management) b, Specific targets by 2015: - Banking service supply market share in provincial area make up over 50% - Density of receiving flow service/ before-tax profit makes up 35% c, Specific solutions in marketing: c1, Solution group with product, price: Concentrate on developing products, new services, services are associated with modernization project deploy: send and receive message, online bank (BIDVDirectbanking, BIDV-VNTopup… ) Create new service products by associating with partners to base on rising facilities of available products Such as: payment of electricity bill, water bill, post office bill… (partners VNPT, Viettel, electricity…….) 93 Apply flexibly price discrimination policies in accordance with customers and supply products according to package Enhance technology modernization, run down management apparatus and labor in order to reduce expenses, cost price of service products c2, Solution group in distribution, development, communication Continue to consolidate communication distribution channels; Maintain and develop modern distribution channels (ATM, POS, phone banking, internet Banking,….) in order to diversify distribution channels Promote effects of information channels in order to carry out propaganda and develop mark Carry out information work well in internal bank It is general information on products, services, development orientation to whole staff and employee (CBNV) Must promote sales promotion activities such as award for staff that has excellent achievement, give gift for customers when they transact with large quantity or traditional customers, use competition method and game in order to create customer’s attention Standardize information supply for customers through information supply and transmission in a few words on products, services, messages from bank to customers From there, may go the shortest way from study to consumption behavior of customers with those products 3.2.3 Other solutions under mixed marketing strategy model: A successful marketing strategy depends on project choice which may bring profit in the future To enhance capacity, revenues and cost cutting, forward to maximization profit, Yen Bai BIDV must associate with four factors: product, price, promotion, place as above analyzed Furthermore, must focus on other important factors: personal, process, physical evidence, concretely: 3.2.3.1 Measurements in person (P5-Personal): 94 Based on analyzing current situations in person of BIDV Yen Bai, the branch should implement some measurements in person in marketing activities well as follows: First: Be quick to set up and implement strategy in developing human resource strongly; Apply process in employing, dividing plan and management of officials; Apply standard system of officials to each authorization level, position, competence specifically under the guideline of Bank for Investment and Development of Viet Nam, in connection with combined to detailed programs in responsibility, tasks, and rights of each official This will set the basis to give comfortable and suitable policies in treating, awarding and punishing Second: Each official of BIDV Yen Bai must play a key role in the bank Mostly, customers will feel bank’s policies, manners and activities through the behavior of transaction employees, who communicate to them directly Because officials and employees are those who are direct in making transactions and communicating to customers – This is an effective the channel for transmitting massage from the bank to customers through employees’ relationship when communicating to customers Moreover, full understanding of products, services as well as development tasks of their units will help personnel acknowledge their sense of responsibility in the work Simultaneously, to gain the highest effectiveness of consulting and introducing products This will set the motivation for personnel to act as a marketing point to introduce and supply good information to customers Third: Empower choosing, training, compensating and creating motivation for personnel Create sale culture: Take advantage of projects by Bank for Agriculture and Rural Development of Viet Nam in training, technical support completely to improve capacity of officials; especially in fields relating to law, finance and professional sale skills and sale administration 95 In order to win the competition, BIDV Yen Bai must attract customers to go to make their transactions, acknowledge demand of each customer and can satisfy that demand at the branch and employees at this time play a vital role Can a staff of enthusiastic, capable employees just serve to the best and keep customers back to the branch It can be said that employees are the face of branch and the most important role for branch’s success Thus, reforming operation model must be combined to that in personnel It is necessary to further train and re-train employees to make them have necessary knowledge and experience required by the work; Train further to increase profession in knowledge of products when new products are born; At the present employees at the branch lack of soft skills to guide customers Just a few of employees understand their bank’s products and services completely Other minor numbers of employees are flexible, quick in listening, interviewing, understanding fact and solving problem This is very necessary to realize demands that have not been satisfied and to combine demands into banking products and services Forth: BIDV Yen Bai needs to renew the recuitment standard It should add the staffs who are men in order to have a suitable gender structure; need have more standard on form and the height in term of direct staffs trading to customers Fifth: BIDV Yen Bai should choose and train leading staff having apititude on technical thinking and can take on mangy different works It should have professional staffs specializing on guiding customers to suitable service areas Training staff having good expression to guide customers to use the services By taking the training on technology and knowledge into a part of conference program which trains the professional in order to promote the efficiency of the branch BIDV Yen Bai need uphold maximum the scientific research activity, making the motive power for staffs to learn and apply the achievements of modern and advanced technologies Apply the program of managing labors, assessing the capacity and efficiency of 96 work through the remark of customers on the level of satisfaction 3.2.3.2 Solution on process (P6-Process): First: Continue remaining and carrying out trading ‘’ one door’’well With the priority of a leading bank in the area implementing the one door trading mechanism, BIDV Yen Bai need define that this is a strong point need be promoted and remained Second: Need enhance and improve, minimize the waiting time, trading time of customers Especially remaining the capacity of cooperation of two divisions well : direct supply division (front office) and supply support division(back office) Therefore, when customers trade, they only wait the treatment of direct supply division, the trading time will be shortened Third: Remain and apply the professional processes under international standard ISO efficiently in order standardize the process and increase the efficiency ; innovate, shorten the process in order to make customers more convenient such as order process, money collection process, money receiving process of deposit customers and loan customers Fourth: invest equipment, new technology, equipment dismissing, old and backward technology Must invest quickly in modern management technology innovation including software application of customer relationship management (CRM-Customer Relationship Management) Presently, BIDV has been urgently deployed With effective help of a CRM program, branch can analyze thoroughly customer both potential form and close form From that set up real value that customer can bring for bank In other aspect, CRM also support efficiently for branch when building marketing strategy owing to a transparent information system on customer record to help simplify the process of marketing and selling 3.2.3.3 Condition measure on material environment (P7-Physical Evidence): 97 First, establish effective working atmosphere and arouse 50 years tradition and BIDV culture in staff of branch A good working atmosphere, leader who is very harmonious and assigns tasks specifically, clearly, has many methods for encouraging workers to work enthusiastically, close relationship and cooperation…This is an important factor to ensure that everyone completes well its task and bank’s target will be definitely implemented Second, improve incessantly material and spirit life of labor This factor creates foundation for reproducing capacity of production and connection closely of labor for BIDV Yen Bai Application of new structure system of BIDV according to principle named work much enjoy much, person who has higher responsibility will be enjoyed higher income will create healthily competitive motive power for labors Ensure proper rights and benefits of employment, working condition, promotion, treatment regimes…for staff, find measures to help officials increase additionally income that helps them feel secure and be closer to BIDC Third, arrange properly transaction division and back office in distribution channel Infrastructure such as head office, transaction office, customer service, service destination…Create customer-surrounding environment in order to maintain current customer and attract potential customer Try to improve quality or innovate network of incomprehensive, old and backward transaction places CONCLUSION Global integration has become an urgent and indispensable requirement for each country in terms of globalizing all commercial activities and services It is a big question for businesses in general and Viet Nam commercial banks in particular about how to 98 survive and develop in a competition environment which has become more critical with potential and experienced competitor One quite simple answer but not easy for all businesses, Viet Nam commercial banks whether state-owned commercial banks or joint stock commercial banks, or business units to be implemented is that they must increase the competition capacity, strengthen cooperation to integrate successfully There are many different methods to improve competitive power Ultimately aim at profit, commercial banks must recognize that marketing is a business tool which is regarded as a indispensable modern banking technology if you want to survive and grow In reality, it can be seen more clearly in the contents below: - Marketing is a tool to connect the activities of commercial banks to the market: Market-orientation has become a prerequisite in the activities of commercial banks today The nature of marketing is the process of identifying bank’s potential capacity and finding out market requirement, thereby establishing and implementing specific marketing solutions - Marketing is a powerful tool to attract customers: Characteristics of banking services are very easy and legal to imitate, so it is very hard to keep the copyright In order to attract and keep the customers, the bank must build a reasonable marketing strategy, which is programmed from learning about the customer’s needs to delivering the products and services to the customers, and satisfying maximum their demand Only by this method, the bank can provide to customers the best and fastest services with lower price so as to make the customers feel most comfortable and convenient in transaction - Marketing is a tool to enhance competitiveness: Market mechanism is a competition mechanism Moreover, with the ongoing development of the international and local economy, the competitors are not just banks, national Non-bank financial organizations but also strong competitors in the 99 international market Thus, commercial banks must have marketing strategies in order to make differences in their services to attract customers However, the fact that effort of satisfying the needs of customers and controlling the market are only effective when competitors not have the same actions or have lower satisfaction level Therefore, marketing is not only a research on customers but also an analysis research on competitors Based on understanding the competitor’s potentials, marketing managers will have prediction about reactions as well as strategies that competitor tends to conduct, so these people should have solutions Thus, thank to conducting the marketing activities according to strategic thinking on the basis of previous consideration about the potentials of competitor, so that commercial banks are always active without falling into the embarrassing situation when the competitor attacks or has higher success - Marketing is a tool to minimize risk: Bank is a risky business Therefore, to succeed in this sector, banks managers must accept risks There is no risk, there will be no business; nevertheless, if risk exceeds the allowed level, it will lead to bankruptcy The issue here is how to know how a risk level is acceptable So accepting the risks here is not desperate regardless of everything but must be based on market analysis and forecasts Marketing is an effective tool for bank management in this case Therefore, marketing is an indispensable activity in all businesses of the bank: Bank Marketing is a profit-oriented thinking state To get expected profit, it is necessary to have specific measures and policies in all activities of the bank; marketing is a tool for banks to raise awareness of products and banking services for potential customers, thereby increasing the number of customers To gradually integrate and orient to a modern bank operating as usual- standard, strong enough – competitive enough to survive and develop sustainably; to build real and long-term position, brand, image, BIDV need to change the mind, innovative 100 activities, innovative in business administration management - executive management; to break through for development In addition to building a business strategy for the unit, building and improving the marketing strategy play a very important role in the success of the bank In the fiercely competitive market economy like today, building a successful marketing strategy is very difficult and complex Achieving the advantages of preeminent features of products has become increasingly difficult It is hoped to implement well the bank-marketing task to satisfy the maximum demands of customers, and everything as possible to keep the old customers and attract new customers, successfully implement the business objectives * Limitations of the capstone project report and the next methodology: - Because the research results are drawn from the actual situation of BIDV Yen Bai, it will need more research to apply these solutions and conclusions in other banks - Despite great efforts in studying materials and theories, time for finishing the thesis of group is also influenced because we must spend time on both studying and working Although the member has given out the topic and worked for BIDV Yen Bai for nearly years, understanding about the activities of the whole BIDV system is also limited because there are many difficulties in operating of a mountainous branch Our group will try to continue researching and developing the thesis much more deeply in both theory and actual operation of BIDV with the hope of contributing our small part in the success and sustainable development of BIDV in the coming competitive and integrated environment * Recommendations: Some recommendations to the Bank for Investment and Development of Vietnam: Order to improve the efficiency of the overall marketing strategy of whole system, BIDV should focus on solving five major problems, as follows: 101 First: Early establish the marketing office at head office and give out models and methods to implement marketing activities at branch Select skilled staff for this department, and there is a clear coordinating mechanism between the head office and branches in implementing marketing strategy Second: Develop the process of providing information and promoting the marketing activities in the whole system Third: Expand and improve the bank marketing training tasks for branches, especially sales skills and management Enhance the training courses about the marketing bank; Increase the number of scientific research projects on marketing, especially the experienced lessons about marketing products to expand in the whole system Fourth: Continue innovating strongly the financial mechanisms, increase the autonomy in costs of marketing activities for branches, have regulations and controlled mechanism to avoid the repetition in advertising and marketing activities leading to less efficiency in the whole system Fifth: Need to quickly invest in modern management technology including Customer Relationship Management software (CRM-Customer Relationship Management) * Recommend to the central and governmental bank: The state should soon issue the synchronized monetary and financial policy mechanism to create legal framework, so commercial bank system can gradually integrate strongly In short: Through the analysis of factors affecting business, the inside and outside environments impacting on banks, the thesis has presented the most basic issues about the actual situations of marketing strategy of BIDV Yen Bai Therefore, draw out the general and specific solutions to improve the strategy Our group hopes that the 102 research will help BIDV Yen Bai in promoting the marketing strategy more effectively in the coming time REFERENCES: Kolter, Philip (1998) “What is Marketing”, Management Press Kolter, Philip (1995) “Fundamental Marketing ” Statistics Publisher Porter, Michael (1997) “Marketing Management” Statistics Publisher Kolter, Philip (2005) “Marketing Management” Statistics Publisher 103 Al Riels & Jack Trout (2006) “22 unchanged rules in Marketing” Youth Publisher William James (2006) “Simple Marketing & Deep Marketing” Labor and Social Publisher Dr Nguyen Thi Mui “Commercial Bank Management.” Financial publisher Dr.Nguyen Thi Minh Hien (2004) “Bank Marketing Coursebook” Statistics Publisher Dr Le The Gioi, Dr Le Thanh Liem, Master Tran Huu Hai (2009) “Strategic Management” Statistics Publisher 10 Porter, Michael (1996) “Competitive Strategy” Hanoi Science and Technology publishing house 11 Smith G D (1997) “Business strategy and tactic” Statistics Publisher, Hanoi 12 Document of conferences of branches in the Northern mountainous area in August, 2008 of BIDV 13 Report on general planning of Yen Bai socio-economic development in the 20062020 period 14 Report of five-year plan 2005-2009 and directions as well as missions in the 2010-2015 period of Agribank branches in Yen Bai 15 Report of 2005-2009 five-year plan and business plan in the 2010-2015 period of BIDV Yen Bai 16 Website www.bidv.com.vn – Bank for Investment and Development of Vietnam 17 Website - www.nghiencuumarketing.com 18 Website www.marketingneu.com 19 Website www.saga.vn 104 ... of implementing Marketing strategy: 19 1.2.3 Marketing- Mix: 21 1.2.3.1 Definition of Marketing- Mix: .22 1.2.3.2 Content of Marketing- Mix: 22 1.3 BANK MARKETING STRATEGY... and bank marketing to propose measurement system to fulfill marketing strategy of - BIDV Yen Bai - Research (make clearly) the nature of marketing in banking activities and methods of choosing... of marketing strategy of the company Chapter 2: Analyze and assess current business and marketing strategy of BIDV Yen Bai Chapter 3: Some solutions to accomplishment of marketing strategy of BIDV