Marketing in Vietnamese Banks

CONTENT

Abstract

Content

Abbreviation...........................................................................................................1

1 Introduction...........................................................................................................2

2 Introduction about BIDV.....................................................................................2

2.1 Overall Vietnam banking market.....................................................................2

2.2 Introduction about BIDV.................................................................................3

2.3 The marketing activities of BIDV....................................................................4

3 PEST analysis........................................................................................................5

3.1. Political-legal environment..............................................................................5

3.2. Economic environment....................................................................................5

3.3 Socialcultural environment..............................................................................6

3.4. Technological environment.............................................................................7

4 Marketing challenges of BIDV............................................................................7

4.1 How to improve and develop new products....................................................7

4.1.1 How to improve and develop new credit products.....................................7

4.1.2 How to improve and innovate banking services........................................8

4.2 How to increase financial capacity ..................................................................8

4.2.1 How to increase it in line with international standard..............................8

4.2.2 How to increase it in line with the development of BIDV..........................9

5 Marketing strategies of BIDV..............................................................................9

5.1 Marketing strategies to innovate and develop new products..........................10

5.1.1 Strategies to innovate products................................................................10

5.1.2 Strategies to develop new products..........................................................10

5.1.3 Strategies to apply new technologies and modern models.......................11

5.2 Marketing strategies to increase its financial capacity...................................11

5.2.1 Improve asset quality, bad debt solvency.................................................12

5.2.2 Equitize BIDV...........................................................................................12

6 Value these strategies..........................................................................................12

6.1 Evaluate marketing strategies to innovate and develop new product.............12

6.2 Evaluate marketing strategies to increase its financial capacity.....................13

6.3 In Summary............................................................................13

7 SWOT analysis.....................................................................................................14

8 Problems in applying these marketing strategies ............................................14

8.1 Problems rising from managing strategies......................................................15

8.2 Problems rising from skills and changing structure........................................15

8.3 Problems rising from communication.............................................................15

9 Conclusions...........................................................................................................16

References.............................................................................................................17

Appendices............................................................................................................19

Abbreviation

WTO: World Trade Organisation

BIDV: Bank for Investment and Development of Vietnam

SOCBs: State-owned commercial banks

SOEs: State-owned Enterprises

SBV: State Bank of Vietnam

AFTA: Asian Free Trade Area

Is&PEs: Individuals and Private Enterprises

1. Introduction

Vietnam will become a full member of the WTO and fully integrate to the global economy in the coming years. With the effects of many other factors including globalisation, deregulation and the support of technology, all Vietnamese enterprises are facing a number of challenges in marketing. In order to overcome the challenges as well as to take full advantage of opportunities, Vietnamese enterprises have responded by changing the way they conduct marketing in very fundamental ways.

The Bank for Investment and Development