VIETNAM NATIONAL UNIVERSITY HO CHI MINH CITY

UNIVERSITY OF ECONOMICS AND LAW

VIETINBANK'S SERVICE QUALITY

EVALUATION AND PROPOSED MARKETING
STRATEGY TO INCREASE REVENUE BY 30% IN 2021

Subject: Service Marketing

Lecturer: Nguyen Tran Cam Linh

Members:
Phung Thi My Duyen K184101322
Dinh Kim Duong K184101325
Ho Mai Linh K184101332
Le Thuy Trang K194101489
Le Thi Thanh Truc K194101493

Ho Chi Minh city – 2021

 Contents
RATIONALE ........................................................................................................................... 3

CHAPTER 1: INTRODUCTION ........................................................................................... 3

1. History, vision and mission ........................................................................................................... 3

2. Logo and slogan ............................................................................................................................. 3

3. Business activities .......................................................................................................................... 4

4. Domestic competitors .................................................................................................................... 5

CHAPTER 2: FLOWER OF VIETINBANK’S SERVICE ................................................ 8

1. Facilitating services ....................................................................................................................... 8

1.1. Information............................................................................................................................................. 9
1.2. Order - taking....................................................................................................................................... 10
1.2.1. Application .................................................................................................................................. 10
1.2.2. Order entry.................................................................................................................................. 10
1.2.3. Check-in ....................................................................................................................................... 10
1.3. Payment ................................................................................................................................................ 10
1.3.1. Self - service ................................................................................................................................. 10
1.3.2. Automatic Deduction from Financial Deposits ........................................................................ 11
1.4. Billing .................................................................................................................................................... 11

2. Enhancing elements ..................................................................................................................... 11

2.1. Consultation ......................................................................................................................................... 11
2.2. Hospitality............................................................................................................................................. 11
2.3. Safekeeping ........................................................................................................................................... 12
2.4. Exceptions ............................................................................................................................................. 12

CHAPTER 3: DIMENSIONS AND GAPS OF VIETINBANK QUALITY ANALYSIS 12

1. Dimensions of Vietinbank Quality analysis .............................................................................. 12

1.1. Tangible ................................................................................................................................................ 12
1.2. Reliability .............................................................................................................................................. 13
1.3. Responsiveness ..................................................................................................................................... 14
1.4. Assurance .............................................................................................................................................. 16
1.5. Empathy ................................................................................................................................................ 17

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 2. GAPs of Vietinbank Quality analysis ........................................................................................ 17
2.1. GAP 1: The Knowledge Gap............................................................................................................... 17
2.2. GAP 2: The Policy Gap ....................................................................................................................... 19
2.3. Gap 3: Delivery Gap ............................................................................................................................ 20
2.4. Gap 4: The Communication Gap ....................................................................................................... 21
2.5. GAP 5: The Perception Gap ............................................................................................................... 22
2.6. GAP 6: The Service Gap ..................................................................................................................... 22

CHAPTER 4: MEASURES OF VIETINBANK QUALITY ............................................. 23

1. Hard measure............................................................................................................................... 23

2. Soft measure ................................................................................................................................. 24

CHAPTER 5: MARKETING STRATEGIES FOR VIETINBANK (7Ps) ....................... 24

1. Product ......................................................................................................................................... 24

2. Price .............................................................................................................................................. 26

3. Place .............................................................................................................................................. 27

4. People ............................................................................................................................................ 29

5. Process .......................................................................................................................................... 30
5.1. Deposit service ...................................................................................................................................... 31
5.2. Life insurance service .......................................................................................................................... 33

6. Physical ......................................................................................................................................... 34

7. Promotion ..................................................................................................................................... 35
7.1. Overview plan, Channel, Budget ........................................................................................................ 36
7.2. Object .................................................................................................................................................... 37
7.3. Target Customer .................................................................................................................................. 37
7.4. CONCEPT ............................................................................................................................................ 38
7.4.1. Background ................................................................................................................................. 38
7.4.2. Insight .......................................................................................................................................... 38
7.4.3. Big Idea ........................................................................................................................................ 39

CONCLUSION ...................................................................................................................... 45

REFERENCES ....................................................................................................................... 46

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RATIONALE

In the context of industrial revolution 4.0, promoting payment for public services
via banks is an inevitable trend and consistent with the Government's policy. The via-bank
payment process for public services not only brings benefits to customers, banks, and
public service providers but also has a positive meaning to the social community.
Specifically, we will limit a large amount of cash in circulation, increase the cash flow to
support the economy, and promote the creation of innovative companies, startups in the
payment field

CHAPTER 1: INTRODUCTION

1. History, vision and mission

After being separated from the State Bank of VietNam in 1988, Vietinbank was
established and became a state-owned bank. Vietinbank was aimed to be a modern,
effective and multipurpose bank in Vietnam and to be one of the top 20 strongest banks in
the Asia-Pacific region by 2030. Its ultimate goal is to be a pioneer in the development of
the country in the banking industry based on resulting in the best value for customers,
shareholders, and wage earners. Vietinbank is not only concerned about efficiency, security
and sustainability but it also focuses on loyalty, innovation discipline and prosperity of
customers, which is assumed as the most crucial success of it.

2. Logo and slogan

The word “Vietinbank” is highlighted by a simple font and modern color. Blue
means freshness, stableness and absolute faith towards development of the bank in the
future.

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 The logo image is stylized from a historical cash coin of Vietnam and is viewed as
the combination of tradition and modernity in the banking and finance sector. The color
red and blue symbolizes the harmony of yin and yang. Two thirds of the above coin painted
blue represents the sky, while the rest colored blue represents firmness of the soil.
The meaning of the slogan “Improving the values of life” refers to a positive
attitude of enhancing material and mental wellbeing as well as prosperity and
accomplishment of its customers.

3. Business activities
There are three main services and products dedicated to individual customers:
• Deposits: including many different types such as term and demand deposits,
accumulated savings, online savings, term savings with super floating rates.
• Loans: containing consumption loans (for purchase of houses, cars, study abroad)
and business loans (for normal production, retail stores, farm owners).
• Cards: Prepaid card, Interior and International Debit (MasterCard Debit, Visa
Debit) card, Interior and International Credit (MasterCard credit, Visa Credit) card.
And other services such as oreign currency trading, digital banking, insurance, etc.

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4. Domestic competitors
Vietinbank, Vietcombank and BIDV have grabbed the market share and been
known as top 3 biggest state-owned commercial banks in Vietnam. Vietcombank was
established in 1963 from the Foreign Exchange Bureau (of the State Bank of Vietnam) and
it has been chosen as “The Best Banking in Vietnam” by prestigious organizations in the
world for years (2) and ranked among 500 strongest banks in the Asia- Pacific in 2019.
Meanwhile, BIDV was founded in 1957 under the initial name of Bank for Construction
of Vietnam and it is the biggest bank of Vietnam for property scale in Vietnam in 2019.

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 The table below describes strengths and weaknesses of both these 3 banks:

Vietinbank Vietcombank BIDV

• Brand and reputation • Be a powerful • Has a large

have been and prestigious network with
continuously affirmed bank with high nearly 190
with prestigious reliability. branches and
awards recognized by • Recieves special bank agencies in
prestigious support and Vietnam.
organizations in the priorities from • Has plentiful and
domestic and State Bank in stable amount of
international financial Government capital providing
markets projects such as enough demand
• Experienced power system of credit to clients
leadership of the and and efficiency of
executive board helps transportation capital use.
planning suitable and infrastructure. • Supplies a
innovative policy into • Card products variable product
enormous are extremely system with 9
development from now diversified that main product
to future. are able to satisfy lines and 3
• Cares about risk most of the proprietary
management mission. requirements of trading product
Strengths
• Has firm and great customers, lines (currency,
capital itselves. especially foreign currency,
• Polices, interests and Vietcombank is bond)
benefits satisfy needs the only bank in • Most of the firm's
of customers. Vietnam business activities
accepting have been

6
 payment of 7 computerized by
common oversea the SIBS system,
cards such as allowing
Visa, UniPay, implementing
JCB, etc. online
• Has over 43.000 transactions and
departments for developing new
card acceptance distribution
and over 2.400 channels such as
ATM points Homebanking,
nationwide as ATM, POS, etc.
well as large
agent
relationships
with nearly 2.000
banks and
financial
institutions
worldwide.

• Product lines have • Account safety • Organizational

some similarities with and security structure is still
the others, although problems still not suitable
services are exist that may according to
diversified but affect personal modern
Weaknesses
monotonous and information and commercial bank
uninteresting. property of custom yet.
• Human resources: customers. • Has an indistinct
Lack of well- • Cumbersome business culture,
apparatus of the thus it lacks

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 trained/ professional firm does not encouragement
employees bring into of
• Customer strategies, optimal activities • innovative
business strategies and outcome; and the thought and
marketing strategies connection outlook.
are not outstanding between • Limitations in
enough to enhance the branches and risk management
image of the brand agencies are not • Shortage of
and market share. consistent. effective
• Services are not marketing
interesting campaigns and
enough to attract activities.
a majority of
customers.

CHAPTER 2: FLOWER OF VIETINBANK’S SERVICE

1. Facilitating services

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1.1. Information

Each counter/transaction desk has a signboard that is properly named for its
function. For example, if a customer wants to deposit money into his or her bank account,
the customer will go to the counter named “Quầy thu - chi tiền mặt”. Thanks to this,
customers can go to the right counter and do not waste their time.

Because there is a lot of information about cards and service prices, loan and
insurance packages, banks cannot put a price list of all services in the sign. Instead, this
information will be provided directly by the employees. In addition, securities information
is provided through the electronic board to ensure timely updates

At the transaction desk, the bank always puts up banners about the bank's new
programs. For instance, some programs such as "Gói vay 0đ", "Tích lũy dài lâu, giá trị bền
sâu", "Vay ưu đãi, lãi tri ân",...

For customers to arrive on time for the bank's operation, the bank places its banner
of working hours in front of the bank gate and the transaction room.
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1.2. Order - taking

1.2.1. Application

Before lending, banks ask their customers to provide some information so that the
bank can screen them. Customers who do not meet the bank's criteria (like a bad credit
record or serious health problems) will be refused loans.

Depending on customers and their purposes, Vietinbank will require different

documents. Take student college as an example, when they want to get a loan they have to
show the bank their admission certificate.

1.2.2. Order entry

On site order fulfillment means that individuals who want to work out with
Vietinbank can transact right on Vietinbank’s transaction room

App banking order means that customers can directly transact with Vietinbank
through Vietinbank Ipay (an online application). They are unnecessary to go to the
transaction place.

1.2.3. Check-in

The transaction room always has enough seats for customers. These chairs are
upholstered with soft cushions. At the Counter Area, the distance between the customer's
chair and the teller is not too far

1.3. Payment

1.3.1. Self - service

Customers can transfer money by themselves, withdraw money and deposit money
to their bank account through R-ATM (a new model ATM). Besides, they are able to open
a bank account online thanks to eKYC solution (Vietinbank’s latest technology solution).
To sum up, they do transactions with Vietinbank by themselves via ATM or mobile
banking system without going to the transaction office. It not only helps customers save
time and costs but also ensures their health safety during the pandemic Covid 19.

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1.3.2. Automatic Deduction from Financial Deposits

When the customer wants to open the card, the card issuance fee will be collected
by toll collectors at the transaction counter.

Transaction fee (inter-bank online money transfer) or card maintenance fee will be
automatically deducted from the customer's account without going through tellers
(Automated systems).

Cash withdrawal fee at ATM or mobile banking is automatically deducted

(Automatic Deduction from Financial Deposits)

1.4. Billing

All customers' transactions on the Vietinbank Ipay are always stored. Customers
can follow easily and check at any time.

When customers make transactions at Vietinbank, customers will receive an

invoice after the transaction is completed. When transacting on Vietinbank Ipay (online
transaction), they will receive an electronic invoice. Thus, they will feel more secure when
using its service

2. Enhancing elements

2.1. Consultation

Consultation is an enhancing supplementary service. It enhances service delivery

by adding value and making it more appealing to clients. Advisory activities Vietinbank is
personal consultation to use the service at a transaction at a branch of Vietinbank and a
personal consultation taking place on online platforms such as website, facebook, or via
telephone exchange.

2.2. Hospitality

Hospitality is one of the factors that retain customers and create loyal customers for
the service. The hospitality of the Vietinbank service is primarily made up of warm-hearted
staff, convey service information clearly, coherently, and are easy to hear and understand.

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2.3. Safekeeping

As a banking service, Vietinbank always focuses on the utmost customer

information security policy, helping customers feel safe and comfortable using the service
without worrying too much about information theft and money

2.4. Exceptions

For customer complaints and handling issues, Vietinbank uses online complaints
via its website or can be contacted via an online switchboard.

CHAPTER 3: DIMENSIONS AND GAPS OF VIETINBANK QUALITY

ANALYSIS

1. Dimensions of Vietinbank Quality analysis

1.1. Tangible

According to Parasuraman, Zeithaml, & Berry (1985), tangible things appear by

those things you can see through your eyes, such as the appearance of physical facilities,
equipment, the attire of service staff and communication materials, etc.

The tangible value of Vietinbank’s service quality is shown by these following

things:

Firstly, customers can easily identify Vietinbank's ATMs and its transaction rooms
throughout its banners and staff’s uniform. To be specific, this bank uses two main colours
of its logo which are blue and red as well the words “Vietinbank” in banners. Also, these
banners are put clearly on the front of ATMs or the transaction rooms. Besides, telles' attire
are synchronized with blue t-shirts. Thus, users do not waste much time recognizing this
bank.

Secondly, it is convenient to transact with Vietinbank whenever customers are in

need. According to Vietnam Biz's statistics, Vietinbank was in the top 10 banks with the
most transaction points in Vietnam (2020). In addition, it owns a transaction network of
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over 1,000 points, about 155 branches and 958 transaction offices nationwide [1]. Thanks
to being located in every province, individuals who exchange with it can handle their
requests quickly.

Thirdly, Vietinbank owns enlarged transaction space and is equipped with much
new technology equipment. More specifically, its space is divided into three parts including
the teller area, digital banking area, and priority area for customers so that they can choose
which area meets their needs and is not necessary to wait. However, if they need to wait,
there will be a row of waiting seats and televisions. As a consequence, there will be a
decline in customers’ wait. In terms of technology equipment, three areas which are
mentioned above are equipped with modern technology. In particular, the teller area is
luxuriously designed, colours are synchronized according to the brand standards of
VietinBank, creating a professional and friendly feeling for customers to transact; digital
banking area has touch screen devices, iPad system, and Kiosk Banking to serve young
customers and employees doing online transactions right at transaction branches and the
last area - Priority areas for customers with luxurious design is used for serving its
customers [2].

Although Vietinbank satisfies almost all tangible facilities, some improvements

need to be taken care of. There are many transaction offices of Vietinbank, still small and
narrow. These branches located in the far-flung province are not divided into three specific
areas as mentioned above and are not equipped with the latest technology facilities.
Besides, garbage in the trash at ATMs is not routinely removed. Consequently, it will
reduce customer satisfaction.

1.2. Reliability

Reliability is stated that the probability of performing properly to customers. In

particular, staff are expected to complete their duties according to the job description. If
individuals who experience the service do not get the correct resolution as they want, they
will lose faith in the service. Seriously, they will not use the service again.

There are many signals which show how Vietinbank gets the trust from their users.

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 As regards the bank, like another banking service Vietinbank is expected to meet
the basic needs of a bank. Partially, Vietinbank fulfils the basic requirements of customers
for a bank such as mobilizing and receiving short, medium and long term deposits from
organizations and individuals, making short, medium and long-term loans to organizations
and individuals, allowing payments between organizations and individuals, performing
foreign currency transactions and discounting commercial paper, bonds, and other valuable
papers [3].

A bank requires many employees with different tasks in order to operate effectively.
Also, each of Vietinbank’s staff has varied job requirements. However, there are a small
number of employees who have direct contact with customers. To serve them in the best
way, Vietinbak not only ensures the professional knowledge of the staff through the
entrance exams [4] but also trains and makes requests when dealing with customers [5].
According to the information posted on the website of Vietinbank, its employees are
expected to “listen instead of giving commands'', “let’s communicate” and “Refrain from
saying "No". Thanks to the Concerning ATM Vietinbank, it always ensures the full supply
of cash for people. Take the Tet holidays in 2017 as an example, the demand for money
increases. To meet the needs of organizations, individuals and to prevent the shortage of
money at ATMs, Vietinbank took the initiative in preparing a large amount of cash to
supply to the market in the previous days’ Tet. Besides, it gave specific instructions to its
branches. These instructions clearly stated that these branches must strengthen cash
regulation, increase the amount of cash balance at the end of the day of the whole system
[6].

1.3. Responsiveness

Responsiveness is the act of proactively and promptly handling customers'

questions and problems. There are some signals that show Vietinbank’s responsiveness.

First of all, ATMs are always built nearby transaction rooms to quickly address
unexpected problems. People who own a Vietinbank’s bank card, when having problems
related to lost card, wrong money transfer, and forgotten pin code can promptly address it
by walking right into the transaction offices which are not far away.

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 Second, Vietinbank can support its customers in time through the "24/7 customer
service center". This contact center is stated to provide service 24 hours a day or seven
days a week including Saturday, Sunday and even Holiday, Tet holiday for all domestic
and international customers in three languages: English, Vietnamese and Japanese [7]. The
phone number is easily found in its facebook and website.
Third, R-ATM (a new Vietinbank’s model) allows customers to deposit money into
a bank account. In other words, in addition to the function of cash withdrawal, savings
deposit, transfer, bill payment, etc like conventional ATMs, R-ATM has a deposit function.
Hence, users can transact promptly because of being able to trade 24/24h without having
to depend on transaction hours/counters of the bank and not waiting in line [8].

Finally, Vietinbank launched some latest solutions related to technology in order to

improve service experience. The eKYC solution (Electronic Know Your Customer)
provides online account opening to customers. This means that they do not have to go to
the transaction counter to carry out registration procedures, verify information and can sit
anywhere to open an account right on the VietinBank iPay Mobile app. As a result,
Customers save time and make transactions more conveniently [9].

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 The Face-pay solution is also a new Vietinbank technology. It is a solution to
authenticate transactions by facial recognition. Customers can set up face authentication
for 100% of financial transactions on the app. Thanks to this, users do not waste much time
trading. It is not only convenient, modern but also prompt [10].
To sum up, to increase service experience Vietinbank provided many solutions that
are advantageous. There is success in responding to the needs of its customers.

1.4. Assurance

According to Christine Ennew, Nigel Waite & Roisin Waite (2013) in the banking
sector, assurance is related to the security that a customer feels when conducting his
banking transactions. Assurance of Vietinbank is shown in detail through the following:

With the aim of wanting customers to differentiate Vietinbank from other

competitors, Vietinbank has done it by showing its prestige and professionalism through
its appearance. A bank has demonstrated its expertise by displaying bank certifications on
signs or employee's badges. In addition, the bank also put certifications on leaflets, emails,
etc. This gives customers a safer feeling about the transaction process.
Vietinbank - VBI Insurance is trusted by many customers with the motto "An tam
tan huong cuoc song". Customers are consulted wholeheartedly at all times through the
online call center and a team of highly qualified staff. Customers receive enthusiastic
attention, support in solving consequences, as well as support in paperwork to complete
the profile.
Most of the employees of Vietinbank are capable of answering customers' questions
professionally. As a result, they understand customers' problems and process transactions
quickly and accurately.
VietinBank's privacy policy for personal transaction information helps customers
feel secure when using services and transactions. In addition, they can interact directly with
the bank through a secure mailbox.
However, the service fee at Vietinbank is also assessed to be higher than other
banks and the deposit interest rate is low. This can become a hindrance for Vietinbank

16
Bank to compete with other competitors while having the same style and frequency of
service.

1.5. Empathy

Parasuraman (1998) argued that understanding customer expectations better than

competitors and the provision of care and customized attention to customers strongly
influences the level of customer satisfaction. In other words, employees help their
customers based on their sympathy. This support is not included in their job description.

Take the case of Vietinbank located in Dong Xoai city (Binh Phuoc province) as
an example. In 2019, my mom took me to Vietinbank to get my atm card pin back. I saw a
baby with his mother sitting in the waiting row, crying very loudly. The baby's mother
comforted the baby but the baby refused to listen. At this point, the staff took the TV remote
to switch the program to Tom & Jerry. Seeing the animation, the baby focused on watching
and stopped crying. The TV volume is not too loud, so it doesn't affect other customers.

Although in the job description of employees at Vietinbank, there is no requirement

that employees coax babies to accompany adults. However, employees are also human and
also have feelings. So they know how to sympathize with customers when they come to
transact. Thanks to the skillful and delicate handling of the above staff, Vietinbank's image
in customers' minds is better.

2. GAPs of Vietinbank Quality analysis

2.1. Gap 1: The Knowledge Gap

The knowledge gap means the dissimilarity between the discernment of service
management and actual expectation of consumers. This gap comes up when service
providers do not correctly become conscious of the insights of their customers, what they
want or need.
Distance 1 results from the difference between what the customers expect and what
the board of directors of Vietinbank notice. The basis of this difference is that the managers
do not fully understand the characteristics that make up the quality of services as well as
how to deliver them to customers to satisfy their needs. In accordance with customer
17
requirements, if it is only considered from the perspective of service providers, it will lose
the objective of customer assessment of service qualities.
Example 1: When arriving at a bank agency, customers want bank clerks to
welcome them with a friendly smile, hospitable greetings and ask what they need about
services. However, the managers think that it is not essential because they have already
placed instruction boards, signboards and bank’s map right after entering the door. There
is no denial that they completely underestimate the relationship between the bank and
customers.
Example 2: Bank traders play an important role in communicating with their
customers and fulfill their needs. Conversely, some employees who might not be well-
trained show an awful attitude toward clients such as giving them a lukewarm reception,
and use inappropriate words when telling them, which leads to the dissatisfaction between
both sides. Customers feel that they are not respected and they should not use any services
at this bank anymore.
Example 3: Any customer coming and using service in the bank wants the
transaction to proceed quickly and take as little time as possible. In fact, in some situations,
the frontline staff do not absolutely concentrate on executing the requirements of
customers. Instead, they process them with a long-winded time since they feel tired or they
do not get used to the work details. Moreover, if their colleague needs help, they are on the
point of leaving the ongoing transaction and then moving to assist their coworker. Time is
money and customers totally spend their time on such a wasting thing that is waiting for a
long time to finish their matter.
The reason for this gap is the lack of orientation for Vietinbank to market the quality
of services; lack of information about customer expectations for the service. The bank does
not have research concentrated on improving the quality of services required by customers;
or it can be due to too much decentralization from the management position to the
executives, resulting in erroneous information transmission.
Therefore, to reduce this gap, Vietinbank needs to manage customers’ records well
to understand their demands and tastes. It is suggested that the bank should conduct a
sample survey to find out what the customers expect about the services today before
proceeding.
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2.2. Gap 2: The Policy Gap

The Policy Gap is the disparity between the understanding about consumer
demands of the firm and the transmission into value designs and service processes to satisfy
these requirements. This misunderstanding emerges from a lot of reasons such as the
shortage of time, budget, material and human resources of the organization parties; or they
only want to concentrate on what they think is right, which leads to the imperfect
expectations of customers.
This gap arises when Vietinbank has difficulty translating business perception
about customer expectation into quality characteristics of the service. Although knowing
the expectation of customers, due to a number of subjective and objective reasons such as
service providers’ professional competence, fluctuation in demand for services have
increased sharply over a period of time that led to Vietinbank giving the wrong service
quality standards, not in line with customer’s expectations. Therefore, Vietinbank must
understand all the needs of customers to create specific items to ensure the services
provided will meet their expectations.
Example 1: Management found that customers not knowing clearly about services
they intended to use wanted to be interpreted evidently when arriving at the bank agency.
In order to perform well in customer service, it should take from 02 to 03 counselors.
However, to save labour, the management department only let 01 to 02 employees to be in
charge of this job position.
Example 2: Customers want to be responded immediately when they send queries
or feedback through the hotline. However, the process of telecommunications may
encounter some difficulties and obstacles such as low line speed due to a high number of
people getting access simultaneously that the delivery taking more time than expected. In
addition, there is a shortage of customer service representatives being present at some
certain periods of time as well as a lack of professional knowledge of these employees in
solving service problems that make the customers feel unsatisfied. An account commented
“I had to wait continuously over 10 minutes long to be able to get a call with the agent.
After expressing my wonder, she suggested that I should leave my information and the
bank will contact me later but I did not get any phone call for 3 days then.”

19
 These problems happen because Vietinbank does not fulfill the service quality as
committed and lacks awareness of the feasibility of the service in practice. Therefore, to
fix them, Vietinbank service managers need to determine the level of service before
implementing, setting service standards according to the service beneficiary classification.
Well-trained professional skills for frontline staff is considerable as well. There is a
flexibility in adjusting the criteria of the service to be able to meet customer requirements.

2.3. Gap 3: Delivery Gap

The Delivery Gap is the gap between the established service quality standards of
the business and the actual service quality provided.
Example 1: In case people want to register a credit card at Vietinbank. Before going
to the transaction counter at a district branch near their home, customers can call the bank's
hotline and ask if they can apply for a credit card in their case. After listening and
researching for a while, the staff will answer that the application can be done, please go to
the nearest transaction counter to register and proceed with the procedures. However, after
going to the bank, the staff said that the file was invalid, showed discomfort and had a bad
attitude towards customers.
After a while of arguing, the staff agreed to make a profile for the customer but had
an unfriendly attitude, handling complicated and confusing processes, causing customers
to wait for a long time without a reasonable explanation.
Example 2: In order to limit the attacks of bad guys such as stealing customer
information or taking advantage of ATMs to rob money, Vietinbank has repeatedly locked
ATM withdrawal systems at a number of branches across the country. When customers
make withdrawals on ATMs, the system will report an error with the words "the system is
under maintenance, please come back later". This makes customers quite annoyed, they
need money urgently, so they have to withdraw money, but the machine gives an error that
makes customers unhappy with this service. This repeated many times, creating a big hole
in Vietinbank's banking services.

20
 Vietinbank should upgrade the system and infrastructure for its services. The
information and data security system needs to be enhanced and improved more in the
coming time.

2.4. Gap 4: The Communication Gap

Advertising media and information also impact on customer expectations about

quality service. Promises in advertising programs and promotions can increase customer
expectations. But when customers feel the experience of the service is not what the
company has promised in the media, that's when this gap 4 appears.
VietinBank iPay Mobile officially "launches" a new version with "thousands of
features, hundreds of utilities" and an extremely rich and diverse ecosystem. With the
slogan "non-stop connection, anytime, anywhere. The application allows customers to use
many services wherever they are, quickly and conveniently.
Customers no longer worry about being cut off from electricity, water, and Internet
because there is a service to remind them to pay bills and set up recurring payment of bills
right on iPay Mobile. In addition, the application allows setting up periodic transfers inside
and outside the bank, repaying loans early, making it easy for customers to transact with
partners and customers without worrying about forgetting or waiting for the payment date.
In addition to convenient financial transactions, VietinBank iPay Mobile
increasingly completes a diverse ecosystem of additional payment utilities such as train
ticket booking, air ticket check in, hotel booking or online shopping. . This is the first
banking application that supports customers to conveniently check in online for air tickets
right on the application. Customers only need to book tickets, pay for tickets, check-in
online right on the application, pick up their suitcases and go.
However, there are many cases where customers complain that the application
loads too slowly when making payment transactions, causing customers to spend a long
time waiting, wasting time, and not making transactions as fast as Vietinbank has
transmitted. pine. In addition, the screen interface often crashes, does not display clearly,
loses text, loses images, making users feel uncomfortable, they have to reload many times.

21
2.5. Gap 5: The Perception Gap

This is considered cognitive distance, which occurs when the intent that the
enterprise's service intends to convey the information assessment is misperception by the
customer. The assessment of information is affected by communication because the
different forms of communication will lead to deep misunderstanding by customers and
businesses.
Perceived distance is assessed from two main perspectives: businesses and
customers. The distance occurs from the customer when the customer does not have
enough knowledge, knowledge, skills and experience, the experience from previous
services leads to a very poor assessment of service value. In addition, business errors occur
when their businesses provide services that are not as good as perceptions of customers,
causing them to feel dissatisfied with the values that the services bring. From there,
customers will underestimate the service.
Example 1: Vietinbank’s service is quick to send money. However, when the group
reads customers' comments on Vietinbank's deposit service, the group realizes one thing is
when the staff advises customers on the deposit service, for long-term and professional
employees, they work very quickly and attentively when customers come to their services
that make customers deeply impressed and want to come back next time because of their
professionalism and conscientiousness. However, the next time they may meet a new
employee, the operation is slow. This gap 5 is inflexible due to the failure to convey the
right quality to the customer.
Example 2: Vietinbank customer care service is 24/7. However, when customers
have an error, they cannot transfer money, make transactions, ... customers can call the
hours of 24h-3g in the morning. During this time, only the online switchboard or the
chatbots are active. The gap 5 happens when the customer's perception is wrong, they
realize that there will be 24/7 service staff, not an online switchboard or online chatbots.
And for businesses, they convey an unclear message that easily causes misunderstanding
from customers.

2.6. GAP 6: The Service Gap

22
 This is considered a service gap, which occurs when there is a discrepancy or
discrepancy between the customer's expectation, the customer's expectation and the
customer's perception of the service. Customer expectations are what customers expect on
available resources and are influenced by culture, family, ... Customer perception is
completely subjective and based on experience. about their service.
The service distance is judged from the individual customer. Customer distance is
the most important distance because understanding customer needs and knowing their
expectations is the best way for a service business to move closer to service success.
Example 1: After experiencing the money transfer service, fast deposit service of
the TP banks, customers are quite satisfied with the fast money transfer policy at all times
including Saturday, Sunday and no need to go to the bank, then after When changing to
using Vietinbank's services, customers expect higher because this is a state-invested bank.
However, when using the service, customers do not receive such utilities. They cannot
trade on Saturdays and Sundays and on weekdays want to trade, they have to go to the bank
to check in very time consuming.
Example 2: As Vietinbank is a foreign invested bank, customers have high
expectations about the prestige and safety when depositing money here. However, there
are a number of cases that happened when the employees of Vietinbank, they intercepted
customers 'money as well as fraudulently appropriated customers' assets. This sixth gap
occurs when the customer's expectation of the safety of the bank is not the same as their
perception.

CHAPTER 4: MEASURES OF VIETINBANK QUALITY

1. Hard measure
Hard measure, or hard standard involves operating activities and process, and their
results and consequences that can be counted. These measurements must be associated with
standards giving in functional steps of services.
Commonly, the firm measures in terms of time and quantity such as service
response level. The general standard of the Call center industry is 80/20, which means 80

23
percent of phone calls will be responded to in the first 20 seconds. In fact, Vietinbank
usually receives feedback that customers have to wait continuously over 10 minutes long
to be able to get a call with the agent, and this low index shows that they have already had
an awful experience and the firm has minimal performance.
Time of completing the transaction process is also seen as a key point to measure
hard standards in service quality. In reality, it is really hard to standardize it. For an example
based on a real experience, there is an individual customer arriving at the bank agency to
make a deposit at noon. There may be some reasons such as the bank teller is tired due to
high amount of task in the morning or her unprofessional and unskillful knowledge that
leads to her slow and unwilling attitude towards executing the transaction even though it
is not really crowded, which makes that customer feel uncomfortable and unsatisfied.
Efforts of the customer service department will be judged as successful or not
depending on how contentment the customers are when they use products and experience
services of Vietinbank. Therefore, the firm should consider these measurement methods
because customer experience measurement is also considered as a useful tool to evaluate
and plan reasonably to develop its services in the right way.

2. Soft measure
Vietinbank is known as a state-invested enterprise. Although prestige and service
quality are important factors that make up this brand's name. However, they still realize
that customer care and service quality also contribute a significant part to Vietinbank's
success. To protect and nurture their image in the market. Vietnam has trained their staff
from the beginning to handle emergency situations with their customers, as well as how to
speak, walk,... And all their employees including When a security guard meets a customer,
he must have a smile on his face.
Although such training sessions are very expensive, the results make all Vietinbank
customers very satisfied with their services.

CHAPTER 5: MARKETING STRATEGIES FOR VIETINBANK (7Ps)

1. Product
24
 One of the most important activities in service marketing is to create trust for
customers by increasing the visibility of products and services.
After understanding the market context and selecting the target customers who are
generation z for a unique card opening campaign, Vietinbank's product strategy will
include:
First, Core product is new card registration service for Gen Z
• Vietinbank will design two card styles including: IStyle and ICreate for both debit
cards (domestic cards and international cards) with a trendy, youthfully designed
surface, creating sparkling accents at the border. around the card.
• With the IStyle card, customers will be able to choose simple templates available
to print on the card such as (flowers, animals, stars, etc) when registering to open
the card).
• For the ICreate card, the customer will send his/her picture to the bank to request a
cartoon-style portrait, then the requested portrait will be printed on their card to
create a personal imprint.
Second, Supplementary services will include services such as: when coming to
register for a card, customers will be provided with price information by staff, providing
Gen Z incentives such as card usage and free card management within a year. There are
enthusiastic staff to advise on how to open the card so customers do not need to worry
about this problem. After the customer makes a decision, the staff immediately conducts
registration, data entry and invoice statement for the customer.
It can be seen that Gen Z is very interested in waiting time to register to use a certain
service. Therefore, to meet this demand of customers, Vietinbank needs a professional
staff, quick and flexible information processing. In addition, Vietinbank needs to improve
capacity and modernize the process of handling tasks in a systematic and streamlined
manner.
In addition, the process of providing services and customer care when using card
services should be improved as follows:
Before providing the service: Creating a database of customers from which to
introduce customers to the services that Vietinbank provides in a dedicated and detailed

25
manner, making customers interested and understand. better understand the services by
emphasizing the benefits and differences of such services.
While providing services: Transactors guide customers to carry out procedures
quickly and conveniently with a kind and gracious attitude, a professional style and with
the utmost support through modern facilities.
After providing the service: Supplementing and updating and categorizing
customer data to support later service offers and providing information to provide after-
sales services and surveys, customer reviews. Classification of customers to take care of
and serve to meet customers' requirements quickly and securely. Help customers have
confidence when using Vietinbank’s services. At the same time, there is a database to
increasingly improve the quality of services and meet the expectations and increasing
demands of customers.

2. Price
Banking service price is the amount of money that the customer has to pay to have
the right to use an amount for a certain period of time or to use the services provided by
the bank.
When starting to launch a new line of debit cards, Vietinbank should choose a
market penetration pricing strategy, because when it is first launched, customers will be
hesitant to approach new products and services, they are not sure that this new type of debit
card has more conveniences than the old cards they used. Therefore, Vietinbank must
create incentives and encourage customers to open cards with a low price strategy in the
first phase.
In addition, Gen Z is the early adopter of digital technology, they are sensitive to
social networks and the internet. Therefore, the pricing strategy will be divided into two
segments: offline and online. This will facilitate transactions, and customers have more
choices when using Vietinbank's services.
To effectively implement this pricing strategy, Vietinbank needs:
For domestic debit card making fee, Vietinbank offers a fee of 50,000 VND for
each card at branches nationwide. Besides, customers also have to pay an additional fee to
maintain their account of 50,000 VND when they register for the first time to open a
26
domestic debit card. If customers choose to register online through Vietinbank's website,
the service fee will be 30,000 VND for each account and the account maintenance fee is
also 50,000 VND.
For international debit cards, Vietinbank offers a fee of 70,000 VND for each card
opening at branches nationwide. In addition, customers also have to pay an additional fee
to maintain their account of 50,000 VND when they register for the first time to open an
international debit card. If customers choose to register online through Vietinbank's
website, the service fee will be 50,000 VND for each account and the account maintenance
fee is also 50,000 VND.
For the cost of printing a picture on a debit card. If the customer chooses an
available image, the service fee will be 100,000 VND for each account. If customers choose
to print cartoon portraits, the service fee will be 200,000 VND for each account.

3. Place

4 Utilities Online Offline

Place Website Transactional branches

A place for people to access online Increase customer experience
card registration if it is not (with parking lots, air
inconvenient to move. conditioners, close to the city
center, confectionery, drinking
App water, ...)
After being provided with a card,
customers use the app to use University
available services There is a staff of Vietinbank to
introduce and advise students on
card opening services

27
 Give students the opportunity to
experiment with card design and
award prizes to the person who
gets the most votes.

Time Website and app are always active, Transactional branches serve
customers only need to submit customers during office hours
registration information and the from Monday to Friday (8am -
Banking department will receive it 16h30).
during office hours (8am - 16h30).
The Bank's staff and
collaborators will evenly
distribute the time each month,
specifically, opening a direct
consultation desk at the
University once every 2 months.

Form There are banners displayed on the Each waiting table is equipped
homepage of the website about with a magazine that is updated
instructions to apply for a card. every month about the Bank so
that customers do not have to
There is a separate link that leads wait for a long time.
customers to the design section. It
will show some demos for customer Display on the small screen at the
reference. Bank information about card
openings and available
Pop-ups appear when customers campaigns.
open the website and encourage
them to fill in their email to help
them update the latest information

28
 about the bank as well as the services
available.

Information There is a call center to support all The customer care department
questions about card opening. has well-trained staff, usually
two people on weekdays, peak
Respond within an hour when there hours or holidays with 3-5
is a customer feedback or complaint people.

A minimum of 10 online consultants

is required

4. People
People play a vital role in the success of Vietinbank since it is not only about the
matter of human resources but also about the contribution of bank development. Mentioned
to labourers, Vietinbank ought to create motivation, advocate friendly and open working
business culture to connect and encourage employees to be creative and devoted to their
work, maximize their capacity to increase work efficiency, thus attracting and satisfying
customers. Assigned from the management team, there are people who are responsible for
making the products and it is essential to standardize the recruitment process. The firm
should hire candidates who meet the required qualities such as having the competence and
expertise in banking industry. Having these people represented will allow Vietinbank to
come up with the best services and give a positive image to the consumers.

People who talk to customers as known as bank tellers must be able to grasp the
psychology of customers as well as have the right kind of manning and open-minded
attitude because the clients always want to talk to people who are willing and able to help
them in case they face problems or concerns about services. In order to accomplish these
tasks absolutely, employees should be trained professionally and knowledgeable about the
specifications of their newest products in detail to offer exceptional customer service.
29
 There are some ways that help Vietinbank find out and advance their personnel
qualities. Firstly, in order to save time and ensure a long-term supply of human resources
for the bank, the firm can collaborate with universities and training centers or organize
challenging and recruiting talent programmes to seek potential candidates and good experts
to complete jobs of bank more efficiently and on demand. What next is to develop internal
training programmes, especially communication and sales skills, fostering business
knowledge for the board of managers, as well as hold periodice staff competency
assessment. The board of execution has to guarantee the commission welfare policy and
reward for any employees who complete their tasks outstandingly and the quality of work
must be linked to the salary and bonus. They can encourage employees by arranging skilled
workers’ contests or promote such excellent individuals to boost their motivation and
productivity.

It would be remiss not to include the role of customers. They accept to buy and use
services not only because of internal factors such as qualities or knowledge of products but
also because of after-sales and psychological factors. Vietinbank needs to understand
insights and needs of their customers so as to plan and execute specific methods and
policies to improve and enhance latest products in the future. Patronage and loyal
customers are always the firm’s favorite, so what they have to do is giving the best
experience in using their services is the key to keep more of existing customers and maybe
gain more new customers.

There is no doubt that the stable maintenance and development of the firm depend
a lot on the People factor because they are determinantes of the final success or loss of the
company.

5. Process

30
5.1. Deposit service

For individual customers, they are provided with services such as payment deposits
and savings deposits. If customers have needs, they will be provided with the service of
collecting / paying savings deposits at home. In addition, there is also a registration service
to receive advice at home if customers cannot go directly to the transaction office.
VietinBank offers a wide range of deposit products and account management
services, allowing customers to manage cash flow accurately and efficiently. Some deposit
services for businesses such as demand deposit, multi-purpose investment deposit, margin
deposit, regular term deposit, automatic term deposit investment.
In addition, Vietinbank also has the form of online savings. This is a form of savings
deposit, but the sender does not have to go to Vietinbank's transaction counter. Vietinbank's
monthly savings deposit service is performed on electronic devices with network
connection.
To make the process of saving Vietinbank go smoothly, with high security.
Customers need to take the time to learn and understand savings packages as well as
savings interest rates at Vietinbank. Then the final decision is made.
The process of implementation between the customer and the Bank in the specific
deposit service is as follows:
• Customers will learn about Vietinbank deposit interest rates
To make the process of saving Vietinbank go smoothly, with high security.
Customers need to take the time to learn and understand savings packages as well as
savings interest rates at Vietinbank. Customers can find out about savings interest rates at

31
the bank on the main website, at their home advice center before going to the bank, or they
can also go to the teller bank to advise directly, offering many options. select and necessary
information. After being consulted, they weigh their options based on their interests, goals
and personal plans, then decide to seize the best option.
• The customer chooses the deposit term and completes the procedure (then the
customer and the bank agree on a certain interest rate)
Depending on the financial ability and wishes of the customer, they will make a
decision, then read the deposit service registration form issued by Vietinbank, the customer
needs to fill in personal information (last name and name, date of birth, ID number, address,
phone number, ...) and finally sign to confirm that you agree to the terms.
At this time, the teller will verify and register the deposit service for the agreed
customer, signed by the trader and signed by his superior. Next, back up another copy for
the customer to keep as proof.
* The customer returns the file to the bank teller and proceeds to put money in and
pay some registration fees.
• After about 5-10 minutes, the teller opens the deposit book and issues the
passbook to the customer.
Customer information is entered into Vietinbank's bank database under strong
security, avoiding account disclosure.
The deposit transaction is considered successful from the date VietinBank
completes the accounting of the deposit transaction according to the agreed contents in the
Deposit Contract.
• The deposit period comes into effect and the customer will receive benefits
depending on the services they have previously selected.
• Finally, the customer will receive interest periodically

32
5.2. Life insurance service

• Learning about life insurance (LI) packages for customers.

There are several Vietinbank’s LI like “Bảo hiểm sức khỏe - VBI care”, “Bảo hiểm
tai nạn mở rộng VBI safe”, “Bảo hiểm bệnh ung thư”, “Bảo hiểm du lịch”, “bảo hiểm người
vay vốn”,...Each type of insurance is presented specifically on the website of Vietinbank
or customers can go directly to the branches of Vietinbank for advice. At this step,
customers will know more basic information about insurance packages such as liability
level, premium, applicable subjects, etc.

• Select the payment term and complete the procedure.

After being consulted about insurance packages, customers will choose the
insurance packages with the payment rates that are suitable for their financial situation.
Then, they provide personal information to complete the process.

=> Two steps mentioned above are the process where customers and users interact
directly with each other. However, these two steps happened thanks to a backstage step.
This step is rarely seen by the customer which is “The customer and the bank agree to the
liability level and the contractual terms.

• Insurance payment

In this step, the customers pay the guaranteed money according to the deadline and
the committed amount.

=> At backstage, staff entered data of individuals who agreed insurance packages
into the data set of Vietinbank.

33
 • Term is calculated.

This step is a core service of the Vietinbank insurance process since the agreement
of the two sides comes into effect.

• When the insured event occurs, people buying insurance have to prepare
documents to claim insurance coverage

=> At backstage, Vietinbank receives documents. Checking the customers'

documents whether the customer's case matches the insurance terms that the customer
bought or not.

• Vietinbank pays the insurance money or indemnifies according to the term as

agreed in the insurance contract.

=> To sum up, this process is considered as an information process. Buying

insurance is an intangible process. Customers cannot see, touch, or hold directly to what
they have paid for (cash and health guarantees).

6. Physical
Facilities are an important factor to make customers feel comfortable when they
arrive at the bank agency. They will be easily disappointed if a prestigious place does not
deliver the quality service they had expected. Therefore, it is necessary for the bank to pay
attention to update and upgrade the physical environment, the equipment to ensure the
efficiency of employees, and avoid technical problems that directly affect the image of
Vietinbank as well as the first impression of the customers.

Firstly, the bank must guarantee that the parking lot is large enough to avoid the
fact that customers come to other buildings to place their means of transport; and sun-shield
enough not to affect their vehicles. Moreover, the seating and transaction area need to be
as clean and bright as possible because customers notice and experience these zones first.
It is suggested that walking paths should not have obstacles like equipment and
unorganized chairs since they look less spacious. Customers often use toilet blocks and
demand a highly hygienic status there. Therefore, the bank must keep them dirt-free and
the unpleasant scent is obligated.
34
 Secondly, as there are a lot of holidays around the year, it will be more attractive if
Vietinbank prepare and decorate their appearance into different themes and concepts
suitable for special events. For example, in Tet holiday, the bank can beautify their look by
changing mainly red color, placing a giant and stunning apricot blossom flowerpot in the
middle of the hall; employees wear new uniforms related to the mentioned subject. The
process is similar when Christmas or Valentine take place. This helps to attract not only
customers who come to make transactions but also bystanders who come to take photos,
which enhances the image of Vietinbank effectively.

Lastly, it is essential for Vietinbank to supply utilities such as hydrogen water

generators or self-serve bars and vending machines in mainly major branches, so customers
can have a variety of beverage options. Especially in the wake of COVID-19 pandemic,
the bank should provide hand sanitizers and medical equipment to prevent the spread of
the virus.

In such a specific campaign we have already mentioned, it is essential to focus on

some details that help to attract customers. All the walls (or small zones) should be painted
with elements used to design custom cards in order that customers can identify easily and
look more familiar. In some cases, it is obvious when they recognize immediately which
shapes are problematic or not suitable to contribute their ideas and suggest to change to
new ones. These elements are guaranteed to to be fit with the iconic palette of the bank
(blue and white) to make consistency.

Sound, smell and music also play an important role in helping customers to
experience the service consciously and subconsciously. Particularity of the bank requires
comfort and relaxation for both customers and employees, so Vietinbank should consider
playing instrumental music with not only tiny volume and harmonious and pleasant melody
but also modern freshness to show the right vibe of the campaign. Furniture in both
transaction points and offline booths should be set up well-suited with banners and other
artifacts, as well as finish cards should be packed in envelopes that are designed
synchronically before handing to customers.

7. Promotion

35
7.1. Overview plan

Trigger Experience Amplify

Time 1/1-28/2/2021 (2 From 1/3-30/9/2021 (7 From 1/10-31/12/2021 (3

months) months) moths)

Object Make Gen Z express • Introducing Vietinbank, Building the image of

himself, step out of emphasize it as the state Vietinbank in customers'
his comfort zone. bank. mind, creating demand
• Launched to issue a for Vietinbank's services
number of new card free
of charge.

Key Viral Clip • Officially launched a new • Preferential programs

hood Program sponsors card ULC collection when using atm
'gap nhau cuoi nam' • Sponsor the national high Vietinbank cards
school exam. • Sponsor program 'Rap
• Series consulting services Viet'
to open ATM cards • TVC
Vietinbank
• TVC

Support KOLs, PR, seeding, Activation & Sampling, FB ads, google ads, SEO,
Tatics Youtube, Tiktok, FB TVC, PR, seeding, FB Ads, TVC, Kenh 14,...
ads... Packaging, SEO, Kenh 14,
Kols, sale people, Tiktok...

36
7.2. Object

7.3. Target Customer

• Age
From 18 to 25 years old. They are students preparing to graduate from high school
and college students are going to work.
They are target customers because they are the group of people with the largest
demand for ATM cards. In other words, those students who prepare for university life need
a new bank card to receive living expenses from their family and pay tuition fees; while
people who will be employees in the future use bank cards to receive salary or living
expenses.
• Religion
Provinces and cities in Vietnam
37
 • Gender
Both male and female

7.4. CONCEPT

7.4.1. Background

Until now, Vietinbank has mainly focused on customers who are Millennials.
However, soon, this generation will make way for Generation Z in most shopping and
transaction activities.
According to research from BAI, an independent nonprofit organization that
provides financial services industry behaviors and trends. The highlights they studied about
Gen Z include:
• Nearly half of respondents said they were willing to pay for additional services.
• They interact more with their financial services institutions than other generations.
• Gen Z currently uses the same financial services organization as their parents, but
more than two-thirds are willing to switch if they find a more innovative one.
Realizing that importance, Vietinbank took advantage of this opportunity to move
closer to Gen Z customers.

7.4.2. Insight

• The target audience:

The target audience of the campaign is Gen Z (born from 1995 to 2003). These
subjects have become the primary labor force, so the demand for banking services is
increasing.
• Consumer Insight:
Gen Z likes products and services that look expensive (but are not). They are
attracted to things that look trendy and love being noticed by people. However, the topics
surrounding banks are somewhat tedious for them. So to reach them, banks not only focus
on quality but also have to invest in the image. Although Gen Z is more demanding for
products and services, they are more than willing to try new experiences even if the brand
is unfamiliar to them.
38
 • Media Insights:
The target group is familiar with technology, social platforms, and is willing to test
new ideas. They are happy to share and comment if an interesting topic comes up.

7.4.3. Big Idea

To achieve the above goal, Vietinbank must first attract the attention of this
dynamic generation by stimulating their creativity.
Vietinbank will deploy the Personalized Card Plan aimed at Gen Z. The idea is to
allow all customers to freely design the appearance of the card when registering to open a
card at the bank. This campaign will arouse them as it is rare in other competitors. To use
the feature, customers have to pay a fee, but the price will depend on their needs.
Vietinbank includes two forms of customization for customers to choose from: one is that
they will design their cards from available simple templates (such as flowers, animals,
stars, etc.). Second, they will send their picture to the bank to request a cartoon portrait
Key message:
“Mở thẻ mới - Phong cách mới”

7.5. Channel

Channels Strength Weakness

Costly, takes great
Offline Create credibility resources

Easy to squeeze
Reaches almost everyone interaction
Target customers can be classified There are many
Target customers can be tracked virtual accounts
Vietinbank's fangpage currently has 108,111 that are difficult to
Online Facebook followers control

39
 Vietinbank's Youtube currently has 4.24 N
subscribers The cost is quite
Youtube Diversify customer files. high.

There is only one

fixed group of
Instagram The user is young and dynamic customers

Young user
In Vietnam, with its rapid growth, TikTok has up
to 12 million users. Our target audience is young
people, between the ages of 15 and 25, and this is Limited
Tiktok our target audience advertising time

Low cost source

Reaches most people
Kenh14.vn is one of the online news sites for
young people with a huge amount of "huge"
traffic from readers. Most of the content of
Channel 14 belongs to entertainment and social Fake information,
topics, targeting young readers such as teenagers, it's hard to
Kenh 14 students and students. distinguish

The majority of
customers are loyal
ones to that
Blog Sharing is well received by many people blogger

Optimal security information Reaching

Customer data is real data customers is quite
Zalo You can find customers through Zalo ads. difficult

Reach all customers Cost, it is not

Google Can optimize search engine SEO. possible to identify

40
 the customer to be
focused

7.6. Implementation plan

Objectives Main task Timeline

1 2 3 4 5 1 2 3 4 5 6 7 8 9 10 11 12

x x Gap nhau cuoi nam

x Viral video

x x x Officially launching the ULC collection

x x Sponsor the national high school exam

x x x x Advisory series for card opening

x x x x TVC

x x Rap Viet

Preferential programs when using atm

x x x x Vietinbank cards

x x x Social media

Object:
• 30% increase in sales.
• Increase brand share
• Build complete CRM system correction
• Increase brand awareness
• Increase social engagement

Viral Clip

41
 Building the image of Gen Z, They are always protected by their parents, that's why
they have a dependency and it is difficult for them to get out of their comfort zone and
express themselves. They are very eager to break through themselves, break the inherent
shell, but they are afraid of failure. There is always a fire in them that is ignited to burn at
any moment. Therefore, Vietinbank will be the one to make their fire burn strongly by
encouraging Gen Z by expressing their creativity and individuality.
TVC
Building an image in the minds of target customers of Vietinbank as a stylish-
creative bank.
Advisory series for card opening
1/1-31/12. However, the focus will be on 1/4-1/10/2021. The counseling campaign
will focus on high schools, universities and colleges,...and will take place nationwide.
Social media
• Using the media Fb ads, Google ads,..to spread the heat of 2 types of style-
create cards of Vietinbank.
• Hire KOLs, Bloggers to promote Vietinbank.
• Besides: Select singer Den Vau as the brand representative.
Preferential programs when using Vietinbank atm cards
• Offer for all iStyle-iCreate cards: 1 year free of charge for messaging
service and account inquiry, ..
• Every time a customer makes a deposit transaction >500,000 VND. Within
1 month, you will have the opportunity to own a prize of up to 1,000,000
VND. The program is valid from September 1 to December 1, 2021
Officially launching the ULC collection
(Unique-Limited-Creative)
• In which there are 2 main lines of cards are iStyle and iCreate.
• iStyle Card: Allows individuals to use their images as animated 3D images
to make cards.
• iCreate:Vietinbank card will create a free and copyright-free image data
source, all individuals who want to make this card can go to the Website to

42
 create a card that decorates to their liking and then send the picture to the
nearest Vietinbank to make a card.
• Card issuance period is limited to only 6 months: From April 1 to October
1, 2021
• The card's features are the same as normal Napas, Visa, and Master debit
cards.
• However, 100 special Gold cards will be issued to the 100 luckiest people
during the card making period.

7.7. Budget

Stage Activate Cost KPI Total

- Viral Clip
- Program sponsors 'gap 1 billion - Viral Clip
nhau cuoi nam' 2 billion reached 10 million
- KOLs và PR 1.5 billion views
- Seeding 700 million - The show met at
- Fb ads 700 million the end of the year
- Youtube 500 million reached top 1 6.9
Trigger - Tiktok 500 million trending youtube billion

- Officially launched a 15 billion

new card ULC collection. 5 billion - TVC approached
- Sponsor the national high 3 billion 10 million views
school exam. 5 billion on youtube,
- Series consulting 1 billion reached 5 million
services to open ATM 500 million hits on FB, Tiktok
cards Vietinbank 2 billion - Issue 3 million
- TVC 2 billion ATM cards.
- Activation & Sampling 700 million - Top 1 search on 42.2
Experience - Seeding 2 billion google. billion

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 - FB Ads 5 billion
- SEO 1 billion
- Kênh 14
- Kols
- Sale people
- Tiktok

- Preferential programs
when using atm
Vietinbank cards
- Sponsor program 'Rap 20 billion
Viet' 2 billion
-TVC 5 billion
- FB ads 700 million
- Google ads 500 million -TVC approaches
-SEO 500 million 30 million views.
-Kênh 14 300 million - Revenue 34
Amplify -Promotion 5 billion increased by 30% billion

83.1
billion

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CONCLUSION
Globalization, it is a trend of regional and global economic integration is taking
place strongly. The monopoly factors in the banking industry are no longer there, but
instead there is strong competition of banks. row. Besides, the banking industry is also
under a lot of pressure such as the strong pressure of expectations, the increasing desire of
customers for services, and the most important factor in this race is science and technology.
However, science and technology is like a double-edged sword for the banking industry.
In addition, alternative products of payment and money transfer services of banks
appear and are gradually monopolizing the market. These service providers are constantly
participating in the market and diversifying products. Their products and services, fierce
competition is an inevitable thing to gain market share. We can mention Momo, ZaloPay,
ViettelPay,...
Faced with that situation, in order to maintain its role as a leader and pioneer in the
banking industry. Vietinbank needs to make more efforts to improve service quality to
better meet the needs of customers. In particular, there must be a breakthrough in the larger
technology field to be able to consolidate the top 1 position in the banking industry in
Vietnam.
With the current development momentum, Vietinbank's services have made great
progress, but there are still limitations that need to be overcome. Accordingly, this report
has studied the overview of Vietinbank's services, researched and analyzed 5 quality
components, gaps in service quality, thereby proposing a marketing strategy to increase 30
% of revenue compared to 2020 of Vietinbank. Through the analysis, we can see that, in
order to ensure long-term success in the volatile service industry, especially the banking
industry, which is constantly changing and meeting the increasing demands of customers,
Vietinbank need to catch up with market trends, and everything that their target customers
want, from which to build a marketing strategy based on market development trends.

45
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