MARKETING PLAN

ANALYSIS:
THE CASE OF
MOMO E-WALLET
MEMBERS:
Nguyễn Đức Trần Minh Đoàn Kiều Nguyễn Phương
Trí Dũng Bảo Anh Gia Khánh Uyên
Content
I Introduction
V Marketing Strategy

Ii Environmental Analysis
VI Implementation

III SWOT Analysis

VII Evaluation and Control

IV Marketing Goals
 I. INTRODUCTION Momo application allow users to
access hundreds of different utilities
on its application, promoting the trend
Established in 2007 of "cashless"

M_service is one of the pioneers in the

field of providing mobile payment The position as the 1st e-wallet in
solutions Vietnam with the highest market
share at 68%, along with awareness
of up to 97%
II. Environmental Analysis
A. Marketing environment
1. Natural environment
Urban centers have been directing people to cashless
purchases.

Covid-19 has made it difficult for people to access

goods/services in the old way.

A big turning point for the development,

causing the rate of this form of payment
to increase for e-wallets.
 2. Resources
Resources of MoMo:
Trusted and loved by tens of millions of users and
business partners.
Has more than 1,600 employees with its HQ in
HCM City, offices in Hanoi and Da Nang.
2020 - Raise capital with a total
charter capital of more than 130
billion VND with 66% foreign
ownership.
2021 - The completion of the 4th
round of funding (Series D) and
the 5th round of funding (Series
E)

Link with 38 domestic and international banks,

providing services to more than 90% of people with
bank accounts, has more than 10,000 agents,
30,000 business partners, has about 31 million
users with more than 140,000 payment points.
3. Competitive Environment

MoMo, Moca, and ZaloPay are the top

three most popular e-wallets in
Vietnam's two major cities.

Examine the three brands and

demonstrate the rivalry in the e-wallet
business.
3. Competitive Environment

MoMo ZaloPay Moca

MoMo e-wallet is an
Moca was launched in
application developed
2013 with a focus on
by Service Joint Stock
 ZaloPay is an e-wallet mobile payment via QR
Company.  On June
platform and online codes. Users open a
Year Founded 14, 2014, Online
payment system created Moca account, which
Mobile (abbreviated
in 2016 by ZION Joint includes an e-wallet that
M_ Service) was
Stock Company.  accepts credit and debit
released as a mobile
cards such as Visa,
app.  MasterCard, and JCB.

Application Main color: Magenta -->
Mixture of red and blue.
It stands for the ability to
balance and stabilize, as
well as representing loyalty
and is a color for apps that
want to be different and
strongly identify.
Main color: Blue and Green
--> Blue indicates financial
security and trust. While
green means growth,
maturity, and a promising
future
Main color: Blue
--> Means protection
and financial security, a
sense of dependability,
and trust. Blue is often
chosen to convey
stability and evoke trust
in customers.
 MoMo offers services ZaloPay allows customers Moca, which has a strategic
such as money transfers to pay online for internet alliance with Grab, has
between Momo services, electricity bills, swiftly become a major
accounts, withdrawals recharge phones for player in the e-wallet
and deposits, bill prepaid subscribers, cable competition.
payment, e-commerce, TV...
Type of
personal finance, and so Moca, with its cleverly
service forth. If friends use ZaloPay, designed QR code, enables
ZaloPay can identify them users to pay at authorized
MOMO is Vietnam's first in their contacts, making spots such as convenience
e-wallet that allows users money transfers and stores, commercial centers,
to withdraw money from transactions with pals eating establishments, or to
their MoMo account. faster.  hire a car on Grab.
 Moca has
approximately 5 million
customers of Moca
The app has over 31 mobile payment
In 2021, this app will have 6.9
million users, 50,000 solutions due to its co-
million downloads and 8.17
corporate partners, operation with Grab.
million users.
Users and and millions of
Partnerships transactions are Moca currently has
It has collaborated with 269
processed through direct connections with
key partners, including Baemin,
MoMo Wallet every 25 commercial banks
Tiki, and Sendo...
day..  and one digital bank,
allowing it to serve
about 92% of ATM card
users in Vietnam.
 National television
Media Website
channels Youtube
Facebook 
March 2018: MoMo was
named one of the top 100
Fintech firms in the world
January 10th, 2019: MoMo is
Important named "The e-wallet of the
Awards year" by The Asian Banker.  rewarded in the category
April 9th 2020: MoMo was
named Best Digital Wallet
Product at The Asian Banker
Vietnam Awards 2020.  Voting Program."
Website Website
Youtube Youtube
Facebook  Facebook 
2020: The International
2019: ZaloPay earned
Data Group (IDG) in
the Vietnam Typical
partnership with the
Electronic Wallet Award
Vietnam Banks
Association recognized
August 27th, 2020,
Moca as the typical
ZaloPay e-wallet was
fintech business.
of "E-wallet with rich
Moca is also the only
ecological system" as a
Fintech in Vietnam to
result of the "Vietnam
receive this honor four
Iconic E-Wallet 2020
years in a row,
 
beginning in 2018.
4. Cultural and Social environment
70% of Vietnamese adults have payment
accounts at credit institutions
64 million Internet users in Vietnam
61.73 million users using mobile devices
583.84 million successful e-wallet
transactions with a total transaction
value of more than 271.36 trillion VND
Vietnam's Internet paymentreached
423.7 million transactions with a value
of 18.5 million billion VND

94% Vietnamese people use the Internet daily

6% use the Internet at least once a week

39.19 million activated e-wallets

5. Economic Environment
5.1 The situation of digital economy development in VietNam
Vietnam's digital economy has made rapid and promising developments compared to the
region and the world.
Vietnam's Internet/platform digital economy has reached 14 billion USD, placing the
country third in ASEAN. (The e-Conomy SEA Report 2020)
The strategic focus of our country in the coming period are set very high, including the digital
economy accounting for 20% of GDP;
Universalization of 4G/5G mobile network services; Vietnam is in the group of 50 leading countries
in the information technology index (IDI) etc
5.2 E-commerce in VietNam
One of Vietnam's digital economy's fastest-growing sectors. In 2021, e-commerce revenue

amounted to approximately 13.7 billion U.S. dollars.

E-commerce in Vietnam is growing at a 35% annual rate, which is 2.5 times faster than in Japan.

(According to VECITA). The number of people participating in online shopping in Vietnam has

steadily increased and now stands at 40 million.

5.3 Digital Payment Trends

COVID-19 pandemic has made digital payment

services, particularly e-wallets, the "new normal"
for many of Vietnam's highly connected
consumers.

2020 - There were approximately 19.2 million

mobile wallet users in the country (expecting to
nearly triple in 2020-2025).

A survey conducted in 2021 has 60% of

respondents across Vietnam use e-wallets.

Early 2021 - 64% of Hanoi people surveyed used

e-wallets, 68% in HCM City, 42% in other
provinces, and 59% across the country.
6. Political and legal environment
provider
Prerequisite to become an e-wallet service
A bank or a non-bank but must be licensed by
the State Bank to operate in the field of
providing intermediary payment services
Have an establishment license or an enterprise
registration certificate provided by a competent
state agency
Has an approved business plan for intermediary
payment services following regulations on
investment competence in the organization's
operating charter
Has a minimum charter capital of VND 50 billion
Meet the conditions of personnel, facilities and
technical infrastructure.
48 non-banking organizations that have
been licensed by the SBV to provide
intermediary payment services (05/2022)
 *Advantages
With a large population, a golden population
structure, a strong digital workforce, and a
large number of Internet and smartphone
users, Vietnam is a large market with a lot of
possibilities for innovative business models.
Covid 19 is a global calamity, but it is also a
century-long push for digital change and
economic prosperity.
Vietnam has an excellent opportunity
to break through and get ahead.
*Disadvantages
The legal and institutional system in Vietnam
has not created favorable conditions for the
development of the digital economy
The insufficient implementation of programs
and policies to develop the digital economy;
digital skills and digital human resources
have not met the requirements of the digital
economy
The opportunities and challenges
as described above pose an
urgent need for a strategy to
guide from the Government.
 These services can now replace traditional
7. Technologycal wallets in different ways
Environment From buying tickets to investing in stocks, technology
allows quicker transfer with fewer steps as well as

Driving factors:
more security.

MORE Convenient Big companies are getting involved

and Useful for Paypal, Venmo provide digital wallets; Apple, Samsung
offer operating systems for such applications; retailers
customers like Alibaba and Walmart have also gotten involved.

Digital wallet providers are rapidly upgrading

and diversifying their services
One of the key factors of using e-wallets is asset types
and methods of payment. They also concern about
storing systems and accessing customers assets.
Nowadays digital wallets allow mobile, web, Internet of
Things (IoT) and crypto access
MoMo offers over 200 7. Technologycal
different features Environment
Ranging from money transfers, saving with
interest, to making donations or taking loans

Ahead of the race

Multiple features, great ease of use, nation-
wide popularity, and world-class security

In the future...
Global access, great user-experience through
high security and diverse customization
options, etc.
B. Target
Markets
Vietnam has become one
of the world’s most rapidly
growing in digital
transactions
Vietnam's growth in digital
transactions: 30.2%/year
70% of Vietnamese adults own bank
accounts, however, there are only 13
million digital wallet accounts
80% of the Vietnamese population
still uses cash for their daily
purchases
59% of the Vietnamese population is
not familiar with digital wallets
77% of people that have already
used an e-wallet are willing to use it
in the future
MoMo picks out the B. Target Markets
segment that best suits
them
People with modest incomes or those who
work away from home are included in this
target category. They don't need a high limit
when it comes to transaction needs
Demographics: Unskilled laborers between the
ages of 18 and 45, work away from home.

Education: Either students or those with a high

school education.

Income: At least 3-5 million VND, preferably

more
Behavior: They are either the income source for
their family or are under the care of their family.
III. SWOT Analysis

STRENGTHS
WEAKNESSES
OPPORTUNITIES
THREATS

High awareness Limited coverage Increasing Fierce

Provide demand for e- competition
convenient service High service fee wallets
Integrate many Risks in e-wallet
services Huge market payment
Effective customer potential
retention strategy
3.4 Important issues
Security weakness.

Vietnam has young users, cheap internet, and a

large number of smartphone users. Criminals
focused mainly on users.

Users have the habit of installing many apps

without careful control, creating a corridor for
hackers to attack the device.

The awareness of using copyright in Vietnam is

also very low.
IV. Marketing Goals
MoMo is intended to implement important future marketing goals like:
✓ Expand and strengthen its services in tier-2 and tier-3
cities as well as in rural areas all across Viet Nam.

✓ Help develop new features of the MoMo e-wallet based

on user needs and feedback.

✓ Building a provider network with tens of thousands of

transaction points nationwide and improve its security
system

✓ Look for and invest in potential, small businesses and

micro enterprises (MSMEs) in Vietnam, continue to
promote investment in Vietnamese companies to expand
the ecosystem.
V. Marketing strategy:
5.1.1 Segmentation - Target markets:

Geographics Demographics

Contry Vietnam Age 18+

the whole territory of

Gender Both male and female
City
vietnam 
Mainly low or middle-

Languages English and Vietnamese Income

income
Area Southeast Asia (SEA)

Life stage Single, couple, family

Population 97.34 million people
 Psychographics

People who like to pay fast but don’t have to use cash ,love technology,
AIO: Activity,Interest,

want to get the best deal possible while spending the least amount of
Opinion
money. 

Attitudes Neutral, positive

Behavioral

- Free and instant money transfer

- Cashback has the highest refund rate
Benefit sought - Easily compare fares, use and pay for all travel services, always
have great deals at the most competitive prices
- Meets the highest secure payment standards
Targeted markets of MoMo e-wallet:
Customer group 1
Occupation: Student
Age: 18-25
Income: 0 - 5 million VND
Monthly allowance: 0 - 5 million VND
Behavior: There is a need to use e-
wallets for shopping and eating
Education level: University education
Lifestyle: An active, practical lifestyle,
wanting to save time, looking for new
services or conveniences in life, having
a diverse eating and shopping
preferences.
Customer group 2
Occupation: Workers, farmers, craftsmen,
self-employed people, etc…
Age: 18 - 45
Income: About 3 - 10 million VND
Behavior: Workers away from home need
to transfer money to their hometown every
month, is the main source of income in the
family
Education level: At the upper secondary
level.
Lifestyle: Love family, like convenience,
desire to find good utility services
5.1.2 Positioning
MoMo’s promise to
MoMo’s brand mantra:
customers:
"TRANSFER MONEY - INSTANT

2016 - "MoMo does not need MOMO"

customers, MoMo needs happy
customers". This is:
Easy to remember, leaving a

This philosophy is fully applied strong impression on customers

by MoMo to all customers and Shows MoMo's ambition to

partners. Products are optimized occupy the Top-of-mind position

in any small details to satisfy in the eyes of consumers

customers' needs, reducing The phrases "Let’s MoMo" is

operations that need to be used increasingly frequently used by

when checking out. Gen Z youth in daily life.

MoMo’s Points of Parity ( POP):
- Meets the needs and provides basic payment
services to customers
- MoMo wallet is licensed and managed by the
State Bank of Vietnam, directly linked with many
banks and when logging into the wallet
- Implement links, expand cooperation with
many different partners in the industry (Gojek,
Bee...)
- Take advantage of the push from the context
of the Covid 19 pandemic
- Raise awareness through promotional
activities and attractive promotions and
cashback programs
MoMo's Points of Difference (POD):
- MoMo wallet provides customers with
One touch payment experience with more
than hundreds of service utilities
-The application is trusted by consumers
thanks to its strict safety standards,
certified with the highest international
security standards (PCI DSS) and is also
the first among the few payment
intermediaries to achieve this certification.
-It is the only e-wallet application in
Vietnam that allows external cash
withdrawal.
*Perceptual Map:
Based on a survey done by DecisionLab, MoMo is ranked first in the fast transaction process (59%)

among the other three wallets ( ShopeePay, ZaloPay, ViettelPay) by 329 respondents. It shows that the

MoMo e-wallet is capable of managing customer payments fast and efficiently.

MoMo E-Wallet is ranked in first place for the strict security system that partners and
customers can be completely assured of.
*Some of the challenges faced by MoMo e-wallet:

1/ Threat from New Entrants

Many competitors have not yet entered the e-wallet
market or have entered but are unpopular in Vietnam.
Specifically:
- E-wallets such as PayPal, Skrill, Payeer, and others are
expanding in foreign markets.
- Competitors such as Bao Kim, Ngan Luong, and online
money transfer services of banks… may participate.
==> Because of the Vietnamese people's habit of using
money, potential rivals put a lot of pressure on MoMo.
 2. Suppliers' Bargaining Power
Many partners accept MoMo e-wallet
cooperation, including supermarkets,
convenience stores, etc...
Service providers for MoMo e-wallets are
industry leaders with a good reputation
and long-standing business companies
in the market, however, they also have a
large number of links to other e-wallets
as well.

==> Suppliers have a moderate impact on the

MoMo e-wallet.
 3. Buyers' Bargaining Power:
In today's diverse e-wallet market, customers

have numerous options for e-wallets ( MoMo,

ZaloPay, ShoppePay...)
Furthermore, they have many ways to learn

about e-wallets, such as: transaction fees,

promotional information, security, service

quality, and customer care... through articles

and reviews on social networks. They want to

get the best deal possible while spending the

least money.
==> Customers put much pressure on the

MoMo e-wallet. As a result, MoMo must

develop a high-quality brand image and better

customer care.
 4. Substitute Products Or Services Threats.
Banks, post offices, and traditional methods are examples of substitute products.
Transfer/multiply money by mail
Transfer/multiply money using a bank.
Trade customers and money the old-fashioned way: ask relatives or send by car

Traditional

Post office Bank
ways

It has an advantage in customer psychology

and service habits in money transfer.
 All localities - Relatively low fee 
Advantages have post - The method of receiving money is quite simple

offices. -A high level of security.

-Get financial protection for the amount that
customers transfer/send.
 - Money must be
transferred at a
transaction office near
the recipient's location.
- Transfer/remit money
- When transferring - Only a small amount of
during office hours.
money to banks outside, money can be sent.
- The time of money
the money will take 24 to - Not safe.
transfer/receipt cannot
Disadvantages be determined.
48 hours to reach the - Receive money
recipient. depending on the
- The money is received
- Work during business distance between
late. The post offices are
hours. places.
almost all far apart.
- Only at the provincial
and municipal levels is
the banking network
concentrated.

--> Alternative products pressure for MoMo e-wallet is not high.

 5/ The Rivalry Between Current Competitors

MoMo e-wallet has to face many direct competitors, and among them, the most prominent and

popular are AirPay, ZaloPay, and ViettelPay

AirPay ZaloPay ViettelPay
➯ Easily link banks, ➯ Capital strength ➯ Strong capital Belongs to a
confirm information, ➯ Amount of user data State corporation.
quickly identify available from ➯ Having its own
➯ Some banks do not companies. telecommunications network.
charge fees when ➯ Attaching to the social ➯ Create Mastercard right on
withdrawing money from →
network brand    the ViettelPay application
Advantages the wallet to the linked creates intimacy for ➯ Can be used immediately
bank. users. on regular phones or without
➯ Easily link banks and an internet connection via
confirm information, command
quickly identify
 ➯ Lack of capital ➯ It costs fee when ➯ It costs fee when withdrawing from
➯ No amount of user withdrawing from wallet to bank card for the 4th time in a
data is available. wallet to bank card month.
➯ Some banks are for the 4th time in a ➯ Few promotions.
Disadvantages subject to a high fee for month.
withdrawing from wallets ➯ Few promotions.
to banks.➯ No
promotions.

==> The competition is putting a lot of pressure on the MoMo e-wallet.

==> In summary, the pressure from competitive forces on the MoMo e-wallet is
incredibly large. Especially from direct competitors, customers, and new
entrants.
To face this pressure, MoMo e-wallets have to come up with effective marketing,
and communication strategies and develop the brand positioning synchronously
and clearly.
5.2 Marketing Mix
5.2.1 Product

CORE CUSTOMER VALUE

MoMo aims to be the national leading e-
wallet service that will promote the
development of the cashless economy
all through providing its customers with
one-touch payment.
ACTUAL PRODUCT
Brand name: MoMo Super App

Quality: Fast, convenient, safe.

"All the world in one tap".
Features: MoMo Money transfer; MoMo Finance;
MoMo Entertainment; MoMo Donation; MoMo Travel
Design:
Theme color: Magenta
Main screen: Main menu with four dominant features:
deposit money, withdraw money, see QR code, scan
codes. Along with other services provided by MoMo.
Various features: numerous features to
meet all the needs of users' life.
Augmented
Simple, easy to use: Friendly interface
Product
and simplifies all operations.

Popular All Over Vietnam: plenty of

payment points and affiliate partners
serve customers anytime, anywhere.
Effective Savings: many attractive
incentive programs associated with
hundreds of partners.
Fast and Convenient: transfer money in
just 1 second, super-fast payment/
recharge…
International Standard Security
MoMo's security technology is globally
certified.
Transaction fee schedule: 5.2.2. Price

Note:
The first 30 transactions/month will be free.
Cash withdrawal fee will be deducted directly from
customer's MoMo account. Fees include VAT.

Cash transfer service at MoMo point of transaction:

Note:
The service only charges the sender, not the receiver.
If there is no recipient within 30 days from the date of
sending, MoMo will return the money to the sender.
Fees include VAT.
5.2.2. Price
 5.2.3. Place
MoMo service covered all essential family
and personal payments:
Top up phones/Buy card codes of all
carriers
Payment of postpaid charges
Payment for Consumer Loans
Buy flight tickets
Buy train tickets
Moving in the city

MoMo covered in places:

Convenience stores
Supermarkets
Food chains
 5.2.3. Place

Gen Z and young people have formed a habit

of paying by e-wallets

-> Have difficulty in eating out at local

restaurants without having MoMo service

MoMo is able to expand its reach to large,

medium and small local eateries to
maximize habits and frequency of using
MoMo by consumers.
5.2.4. Promotion - Integrated Marketing
Communications
Communication target (WHY):
Increase brand awareness, promote changing consumer
habits - encouraging people to use online payment when
shopping.
Shaping the target audience's perception of quality and
utility for online payments.

Target audience (WHO)

The unskilled laborers with relatively low income who are
between the ages of 18-45.
Be more interested in the products and services of the
business than in other customer groups and have regular
transactions.
Urban customers are the main audience to apply
communication tools, mainly digital media.
Choose effective communication channel
(WHERE)

Most of the information channels about MoMo

from sources : “Word of mouth”, “Public
relations” or “Advertising on Television”

“Word of mouth” is very important. When there is

a user and experience, that person will
summarize all the information in the most
concise way to convey to others. At this time,
listeners will find it easier to understand and
stimulate their need to use.
 Advertising - Outdoor TV advertisement (TVC-
advertising Television Commercials)

All the first 30 seconds, the viewership reached

very high but dropped significantly at 60 seconds
 2019 - Momo has deployed PR content to spread
Public relations information about Mega Cashback 01/11 - encourage,
spread the media message, create initiative and
Cooperate with KOLs,
anticipation with the target audience
influencers, reputable
newspapers posted
information about the
campaign combining
the deployment of in-
depth content to
emphasize the real
value MoMo brings to
the community

Well exploit the insight of customers, especially

young people (like to experience new, convenient
and fast payment methods)
VI. MARKETING PLAN
1. Implementation
MoMo has lately focused more on Millennials and Gen Z
customers.
Millennial users: love a brand who has unique, relevant and useful experience;
concerned about security issues.
Gen Z customers: prefer a brand that is able to represent the value of our
country’s culture.

MoMo has already implemented a number of new services targeting these groups:
discounts on fast food, playing games in-app, etc.
All of this while still pursuing its core value: become a super app that can help with
every need in life.
2. Marketing plan execution table
2. Marketing plan execution table
VII.
Evaluation
and Control:
The project report will
include an evaluation of
financial expenditures
following the marketing plan.
MoMo e-wallet must meet
the following performance
standards and financial
controls:
1. Performance Standards and
Financial Controls
1. The mission and vision statements should be compiled from
various ideas and perspectives from upper management and the
board of directors.
2. The marketing plan implementation budget will be 40% of the total
promotional budget.
3. The following percentages of the funding will be allocated to the
defined marketing activities: 50% for plan implementation, 20% for
marketing plan amendments, and 30% for follow-up analysis.
4. The marketing director is in charge of reporting all marketing plan
implementation expenses.
5. Team members collaborating with the marketing director will be
accountable for bringing the director up to date regularly and
reporting all personal and non-personal expenses linked to the
marketing plan's implementation.

2. Financial Control
Need to compare its actual
performance with planned
goals.
In order to create favorable
conditions, monitoring
procedures should be
developed for various
activities necessary to make
marketing plans into reality.
A project management concept will be used to
evaluate the implementation of marketing plans
by establishing time requirements, human
resource needs, financial spending or budget.
Regular comparison of practical activities and
plans will be conducted monthly after the initial
implementation period.
Each project group is responsible for determining
which changes must be conducted in the
procedures.
THANK YOU!
Do you have any questions
for us before we go?