marketing assignment -mai thi kim ngan
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MARKETING PLAN 2012 FOR SAIGON RESIDENCE APARTMENT
MAI THI KIM NGAN
OPEN UNIVERSITY MALAYSIA
Author Note
Mai Thi Kim Ngan, MBA Class, Open University Malaysia
Mai Thi Kim Ngan is now at MBA Class, Open University Malaysia
Correspondence concerning this article should be addressed to Mai Thi Kim Ngan, MBA Class,
Open University Malaysia. Contact: [email protected]
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ACKNOWLEDGEMENT
I would like to express my sincere gratitude to Professor Tran Anh Dung for his supervision and
guidance. Also I would to thank colleagues in helping me to broaden my view and knowledge.
And my deepest gratitude to my parents in supporting me.
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TABLE OF CONTENTS
Executive Summary ……………………………………………………………………. Page 4
Current Marketing Situation…………………………………………………………….. Page 5
SWOT Analysis…………………………………………………………………………. Page 8
Marketing Strategies…………………………………………………………………….. Page 11
Action Programs………………………………………………………………………….Page 21
Projected Profit & Loss Statement (2012-2015) …………………………………………Page 26
Control………………………………………… …………………………………………Page 35
References………………………………………… ……………………………………..Page 36
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EXECUTIVE SUMMARY
This paper explores Marketing plan 2012 for Saigon Residence Apartment. It includes the
analysis of current marketing situation of the real estate market, product and competitors.
After that, this paper would analyze SWOT to create great marketing plan. We should set
Objective like a key performance index to see how effectively our marketing plan achieved
and this is a motivation for us to do. And we develop our Marketing strategies to meet the
marketing plan objectives. This step needs the strategic and logical thoughts . Having
Marketing strategies, the next step is Marketing actions, detailed activities in Marketing
strategies, who/when/where/what and how is the questions we should make to Marketing
actions. In Marketing plan, we have to calculate profit and loss , specifically the projected
profit and cost when this plan is implemented. It also involves the survival and development
of business. Finally, we have to evaluate Marketing process to estimate Marketing plan or
adjust when necessary.
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CURRENT MARKET SITUATION
Real estate market is freezing due to lack of the capital of business and the demand of market. Real
estate companies don’t have enough financial budgets to continue construction of the project. They
have to make a loan from a bank but they don’t have any ability to mortgage.
According to Dr Vu Dinh Anh (2011), “Vietnam’s inflation will be increased approximately by 20%
in this year and rank the first country in inflation in the year of 2012. The reason to lead this cause is
high investment (spend 40% GDP in investment) and low ROI. Because of inflation, Vietnamese
people limit in consuming thereby Vietnam economy has to face not only inflation but also deflation.
Banking interest with the inflation thereby real estate companies can’t hope to the decrease of
banking interest”
Asset bubbles are deflated, the projection of real estate market has increased tens of percentage and
not get the bottom. There have the projection of real estate increase by 50%. This is a good signal to
customers, they can buy real estate with the acceptable price.
The high-lass segmentation in apartments is increased. Because young people earn much more
money and they have preference in living high-class apartments. Beside that, foreigners are working
in Vietnam and their income is around 2000 USD above. They have a demand of staying in luxury
apartments. The standard of luxury apartments is in central city, the interior is luxury and expensive,
the condition of environment is pure, the infrastructure is modern.
Moreover, 71st Decree of Housing Law instructs concretely to make real estate market more
transparent and professional. Therefore, those investors who have real potential can develop in the
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future. In the long run, luxury apartments is still a good choice to customers. Because there are more
rich people in Vietnam and they want to live in luxury houses.(Baomoi.com, 2011)
The projection after crisis:
- Real estate investors can’t unite the general working regulation: launching at the same time,
high competitiveness, not be able to sell at the high price, low profit.
- Higher demand of customers and in fact, the quality of product must be good, stable, and
investors sell completely physical product, not a product on the paper.
- Other services include: especially services of apartment increasingly standardized, friendly in
environment, civilization
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Table 1
The strengths and weaknesses of competitors
Saigon Residence Saigon M&C Vincom Plaza Sailing Tow
Strengths Permanent property
Acceptable price
Suitable area => easy to
buy, easy to sell
No complex zone => offer
absolutely quiet
Central location –
beautiful view from
Saigon River
High quality in
construction
Located in Dong
Khoi street
Launched
period tim
real estate
Weaknesses Launched in declining
time of real estate
High price (7.000$)
50 years possession
Complex zone =>
noisy place
Very high price
(9.000$)
50 years
possession
Complex zone =>
noisy place
50 years
possession
In figure above, we can identify more detailed about the strengths and weaknesses of competitors,
Now we can analyze the competitors to know their strengths and our strengths to strengthen
advantages and know their weaknesses and our weaknesses to decrease disadvantages.
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SWOT ANALYSIS
Strengths
- Suitable area apartment
- No complex zone
- Good price
- Permanent Possession
- Good Service Management
- Favorable location
- Luxury, modern design
Weaknesses
- Launch in the violence time of real estate
Strategy to strengthen: Noisily promotion =>
create brand awareness
Strategy to increase weaknesses: this is real
people, real demand, not virtual ones
Opportunities :
- Difficult things happen but real demand
- Rare luxury aparments in district 1
- 0ld apartments in district 1, mostly
leasing, 50 years possession
Threats:
- The most difficult real estate market in
over 10 years
- Changeable real estate policy
- Dreary picture lasts in the next 10 years,
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- Increasingly Foreign investors,
marriage involving foreign factor
- Second-home: successful officials who
have remoted home and they want the
demand of central house
influence buyers, investors, stuck capital
thereby not invest in our project
Strategy to increase opportunities: Identify
proper target customers
Strategy to decease threats: Acceptable price
with quality and the ability of buyer
Reference:
Dr Vu Dinh Anh - Former Deputy Director of the Ministry of Finance (2011, August 1st) Real
Estate Market will hit the bottom in 2012. Retrieved from
http://land.cafef.vn/2011080101001687CA43/thi-truong-bat-dong-san-cham-day-vao-nam-
2012.chn
(2011. Luxury Apartment – Demand is increasing . Retrieved from http://www.baomoi.com/Thi-
truong-chung-cu-cao-cap-Nhu-cau-dang-tang-cao/147/5701681.epi)
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OBJECTIVES
Achieve the target sale: sale out 211 apartments after launching in June 2012
Build Saigon Residence brand awareness as a luxury, high-class apartment in Ho chi minh Citizen’
mind.
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MARKETING STRATEGY
• Market Segment:
According to The Ministry of Construction. 2008, we can divide apartments into 4 segmentations:
1. 1st Rank Apartment (luxury) is the highest quality apartment: Ensuring the requirements of
planning, architecture, infrastructure, social infrastructure, quality after construction,
equipment and the supply condition of service management are perfect.
2. 2nd
Rank Apartment is the high quality apartment: Ensuring the requirements of planning,
architecture, infrastructure, social infrastructure, quality after construction, equipment and
the supply condition of service management are relatively perfect.
3. 3rd Rank Apartment: the quiet high quality apartment: Ensuring the requirements of planning,
architecture, infrastructure, social infrastructure, quality after construction, equipment and
the supply condition of service management are quite.
4. 4th Rank Apartment: the middle high quality apartment: Ensuring the requirements of
planning, architecture, infrastructure, social infrastructure, quality after construction,
equipment and the supply condition of service management are medium.
Those classifications above are objected not detailed in standard, lead to misunderstanding in
customers’ mind, they feel difficult to identify what 1st
rank or 2nd
rank,..is.
However, Saigon Residence believes in our standard of planning, infrastructure, conditions of
environment, nature, geography, interior and exterior design to position it “1st Rank – high-class
and luxury)
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• Target customers:
- The Artist class needs an apartment to go to the show places conveniently.
- General directors who earn 2000 USD/month want to have central houses to go to work
easily
- Marriage involving foreign factors
- Investors who lease and sell to customers
References:
(The Ministry of Construction. 2008. Circular of classification of apartments. Retrieved from
http://www.chinhphu.vn/portal/page?
_pageid=578,33345598&_dad=portal&_schema=PORTAL&docid=67938)
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PRODUCT STRATEGY
Saigon Residence is located in 11D Thi Sach St,
Ben Nghe Ward, District 1, HCM City
- It has 25 floors:
1st to 4th Basement: Vehicle parking
1st to 5th Floor: Trade Center
6th to 24th Floor: Luxury Apartment
25th Floor: Penthouse
Construction Time: January 2012
Completion Time: December 2013
- Transportation:
In this area, customers can go on foot, by motorbike or car. Traffic jam rarely happens because
there are many 1st direction streets.
There is no complication of transportation, no noise and fit to the model of luxury, quiet, central
residence area
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- Faculty:
Intelligent Building Management System (IBMS) is the latest generation. All of air-conditioner,
fire alarm, safety, security is centralized control with IBMS. Those systems are integrated fully
information , communication and automated office.
Swimming Pool: 5 star with 80m2 area, it will bring to building citizen comfortably
Barbecue Restaurant: placed at 13th Floor, with excellent grilled food is cooked by 5 stars chef
Gym: equipped with modern machines, placed at 13th
Floor, where people can practice to be
healthier.
Table 2
Apartment Scheme
25 25-01 25-02
24 24-01 24-02 24-03 24-04 24-05 24-06 24-07 24-08 24-09 24-10
23 23-01 23-02 23-03 23-04 23-05 23-06 23-07 23-08 23-09 23-10
22 22-01 22-02 22-03 22-04 22-05 22-06 22-07 22-08 22-09 22-10
21 21-01 21-02 21-03 21-04 21-05 21-06 21-07 21-08 21-09 21-10
20 20-01 20-02 20-03 20-04 20-05 20-06 20-07 20-08 20-09 20-10
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19 19-01 19-02 19-03 19-04 19-05 19-06 19-07 19-08 19-09 19-10
18 18-01 18-02 18-03 18-04 18-05 18-06 18-07 18-08 18-09 18-10
17 17-01 17-02 17-03 17-04 17-05 17-06 17-07 17-08 17-09 17-10
16 16-01 16-02 16-03 16-04 16-05 16-06 16-07 16-08 16-09 16-10
15 15-01 15-02 15-03 15-04 15-05 15-06 15-07 15-08 15-09 15-10
14 14-01 14-02 14-03 14-04 14-05 14-06 14-07 14-08 14-09 14-10
13 13-01 13-02 13-03 13-04 13-05 13-06 13-07 13-08 13-09 13-10
12 12-01 12-02 12-03 12-04 12-05 12-06 12-07 12-08 12-09 12-10
11 11-01 11-02 11-03 11-04 11-05 11-06 11-07 11-08 11-09 11-10
10 10-01 10-02 10-03 10-04 10-05 10-06 10-07 10-08 10-09 10-10
9 09-01 09-02 09-03 09-04 09-05 09-06 09-07 09-08 09-09 09-10
8 08-01 08-02 08-03 08-04 08-05 08-06 08-07 08-08 08-09 08-10
7 07-01 07-02 07-03 07-04 07-05 07-06 07-07 07-08 07-09 07-10
6 06-01 06-02 06-03 06-04 06-05 06-06 06-07 06-08 06-09 06-10
This is the scheme of Saigon Residence apartment which has 211 apartments at 6th to 25th Floor.
Each floor has 11 apartments. It marks from 01 to 11 together with the ordinal number of floor.
Model Apartment:
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BUILDING BRAND STRATEGY
In above figure, we can see Brand structure. It has Brand Belief which is the reason to believe
that Saigon Residence is a luxury, desirable apartments: no complex zone, permanent
possession with acceptable price and suitable area. Customers feel brand benefit including
Functional benefit and Emotional benefit. A place to live is functional benefit and emotional
benefits consist comfortable feeling and the status of luxury apartment ownership. Brand
Attributes are Logo, Name-card, Brochure and main theme color.
Brand personalization:
Luxury, High-class
Brand Belief
No complex zone
Permanent possession, acceptable
price
Suitable area
Brand Benefit:
***Functional benefits: a place to live
***Emotional benefits:
Comfortable feeling, prove the status of
ownership
Brand Attributes:
Logo
Namecard
Brochure
Color
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PLACE STRATEGY
We have the commission 2% per total revenue to Business Development Department to
encourage them to sell out.
Not sale noisily, only in small drops in the
progress of construction, not support credit
banking
Creating scarcity to push price higher
Use Trading Floor service only making valid
housing documents, Business Development
Department will sale.
TARGET
CONSUMERSInconvenient location, no beautiful view will
sell first, beautiful and convenient location
sell after
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PRICE STRATEGY
Pricing formula:
Total Building Floor Area 2000 m2
Land Cost 2000 USD/m2
Construction Cost 2500 USD/m2
Operation Cost 500 USD/m2
Total Cost 3700 USD/m2
3700 USD/ m2 above is the floor price. But we did research in competitors’ prices, such as:
Vincom (9000 USD/1m2), Saigon MC (7000 USD/m2), Sailing Tower (5000 USD/m2) and the
differentiation of Saigon Residence, compared to competitors is located in district 1, luxury
infrastructure, quiet and good environment. Hence we feel confident to set the price 6000
USD/m2.
Beside that, we calculated the service prices when customers use those services of Saigon
Residence.
Service Price
Car parking 100 USD/ month
Motorbike parking 20 USD/ month
Trade center rental fee 30 USD/ month
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PROMOTION STRATEGY
We don’t need to invest a lot of money in promotion. But at each appearance of Saigon
Apartment, we must make it luxury and outstanding.
We have 4 channels to promoted our product:
1. Event:
Re-launching Saigon Residence Luxury Apartments event
Scale: 150 participants
Location: 11D Thi Sách
Time: June/2012
Objectives:
- Introduce to target customers about Saigon Residence
- Inform to customers that Saigon Residence is re-constructed
- Revenue at event: 10 apartments
Selling event
Scale: 200 participants
Location: Caravelle Hotel
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Time: December/2012
Objectives:
- Introduce to customers about Saigon Residence
- Inform to customers that the project has been finished
2. Word of mouth
Brochure: send 3.000 brochure to target customers
Old customers introduce to their friends, families
3. Newspaper:
Published on High-class newspapers as Heritage, Doanh Nhan Sai Gon
Time: 1 month before re-launching Saigon Residence event
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ACTION PLAN
Project: Saigon Residence
N
oContent
De
c
Ja
n
Fe
bMar
Ap
r
Ma
y Jun Jul BUDGET
I
Build Brand for
Saigon
Residence
50,0
00,0001 LOGO
+ Final Design+ Edit and
feedback+ Approval
2
Brand Identity:
Namecard,
Brochure+ Summit design+ Edition
+ Approval
design+ Choose
materials+ Print test+ Printest
approval & carry
out3 Building Fence
+ Summit design+ Design
Approval+ Choose
constructor
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+ Print test+ Execution
4 Press Release+ Design
+ Approval
II Brochure
5,
000,000
1
Layout &
Picture:+ Summit Design
2 Copywriting+ Summit Content
3
Layout, Picture
& Copywriting
4
Drawings:
(insert)+ Request layout
from Project
Department+ Project
Department gives
layout+ Standardized
Layout in
accordance with
Brand Identity+ Approval layout
5 Printing
+ Choose paper
material+ Printest
6 Delivery
III Website
7,
000,000
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1
Summit layout &
Design
2
Summit
Copywriting
Conten
3
Select
Programming
Organization
4
Approval of
website maker
5
Summit domain,
hosting and
quotation
6
Approval of
domain, hosting
7
Upload website
online
V Event
50,0
00,000Relaunching
Saigon ApartmentDesign : banner,
background,
invitation, main
theme
Human ResourceProductionBuffet Preparation
VI Human ResourceInternal Human
Resource+ Set up Internal
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Human Resource
+ Submit
Organization Chart
(human, scope of
work, salary,
commision)+ Approval of
Human Resource+ Interview and
Recruitment
VII Finance
1
Set up apartment
price policy
2
Submit apartmnet
price policy
3
Set up service fees
for apartment
4
Aproval service
fees5 Sale Forcast
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Projected Profit & Loss Statement ( 2012 –2015)
Unit: USD Year 2011 2012 2013 2014 2015Number of
year 1 2 3 4 5
Total
Revenue of Trade Center
7,7
61,250 2,511,000 2,586,330 2,663,92
Area 6,975 6,975 6,975 6,975
Rental fee 30.0 30.0 30.9 31.8
Revenue of apartment
130,2
00,000 91,140,000 39,060,000 -
Area
2
1,700 15,190 17,360 -
Price
6,
000.0 6,000.0 6,180.0 -
Revenue of Service
7
32,543 237,000 244,110 251,43
Number of Car 50 50 50 50
Rental fee 100.0 100.0 103.0 106.1
Number of Motorbike 1,000 1,000 1,000 1,000
Rental fee 20.0 20.0 20.6 21.2
Total Revenue
138,6
93,793 93,888,000 41,890,440 2,915,35
Project Cost4,3
86,041 - - - - -
- Management Cost
- - - - - -
- Service Cost 4,38 - - -
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6,041 - -
Operation Cost
8,6
10,429 -
5,
600 1,091,855 1,264,605 1,264,60
Land Cost
4,00
0,000 - - - - -
Service Cost of Trade Center
62
0,900 - - - 310,450 310,45Management Cost of Trade
Center
93
1,350 - - 310,450 310,450 310,45
-
Service Cost of Apartment
52
6,326 - - 175,442 175,442 175,44Management Cost of
Apartment
52
6,326 - - 175,442 175,442 175,44
-
-
Manangemnet cost of parking
1,48
7,539 430,521 36,627 36,62
Maintaince Cost
51
2,388 - 256,194 256,19
Marketing Cost 5,600
5,
600
Total Cost
12,9
96,470 -
5,
600 1,091,855 1,264,605 1,264,60
Total Profit
125,6
97,324 -
(5,
600) 92,796,145 40,625,835 1,650,74
FINANCIAL ANALYSISSAIGON RESIDENCE
Unit: USDA. GIẢ ĐỊNH VỀ
XÂY DỰNGTheory of Construction
- Land Area 2,000. m2
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0
- Construction Coefficient 80%
- Number of basement 4 floor
- Number of construction
25 floor
- Total floor construction
area
42,6
99m2
- Total basement area6,3
68m2
- Total floor construction
area
(not including basement)
36,3
31m2
B. GIẢ ĐỊNH VỀ
CHI PHÍTheory of cost
1/ Land Cost4,000,
000USD
3/ Construction CostArea
(m2)
Unit(usd/
m2)Total
51,238,
800USD
42,69
9
1,200
51,238,8
00
4/ Other costs
Ratio % *
Constructio
n Cost
4,386,
041 USD
5/ Prevention Costs 5,562,
484
USD
*Total Cost ( 2 + 3 +
4 + 5 )
61,187,
325
USD
C. GIẢ ĐỊNH VỀ
KINH DOANHTheory of Revenue
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Trade Area CFA tỷ lệ KD NFA
- Trade Service 6,193 65% 4,025 m2
- Apartment21,70
0
82% 17,794 m2
- Rental fee
30
USD/mont
h
-Service cost 4% revenue
- Management Cost 4% revenue
- Apartment Revenue6,0
00USD/m2
-Service cost 4% revenue
- Management Cost 4% revenue
- Number of Car 50 units
- Number of Motorbike 1,000 units
- Rental fees for Car1
00
USD/mont
h.
- Rental fees for motorbike
20
USD/mont
h.
-Management Cost 5% revenue
- Maintainence Cost 0.5% Cc
- Đơn giá cho thuê tăng mỗi năm 3% /year
D. GIẢ ĐỊNH VỀ
VỐNTheory of Capital
Capital5,000,
000USD
Enterprise Cost 25%
Remark
Not including VAT
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SUMMARY OF PROJECT PARAMETER
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No Content Unit Number Remark
1 Land Area m2 2,000.0
2 Total Floor area construction m2 1,592
3 Construction Coefficient % 80%
4 Number of floors floor 25
5 Number of basements floor 4
6 Total Area m2 42,699
6.1 Basement Area m2 6,368
1st Basement m2 1,592 Parking
2nd Basement m2 1,592 Parking
3rd Basement m2 1,592 Parking
4th Basement m2 1,592 Parking
6.2 Trade Center m2 6,193
1st Floor 1,053
2nd Floor 1,285
3rd Floor 1,285
4th Floor 1,285
5th Floor 1,285
6.3 Luxury Apartments m2 21,700
6th Floor
1 1 a p a
r t m e n t / f l o o r
1065
7th Floor 1065
8th Floor 1065
9th Floor 1065
10th Floor 1065
11th Floor 1065
12th Floor 1065
13th Floor 782
14th Floor 1065
15th Floor 1065
16th Floor 1065
17th Floor 1065
18th Floor 1065
19th Floor 1065
20th Floor 1065
21st Floor 1065
22nd Floor 1065
23rd Floor 1065
24th Floor 1065
25th Floor 1748
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MARKETING PLAN 2012 FOR SAIGON RESIDENCE APARTMENT Page 31
CONTROL
• Marketing research
In this step, this called evaluation or marketing control. People usually think that we control
after implementing marketing plan. But actually this process happens before, during and after
marketing plan. Before marketing plan, we have to do marketing research to understand
customers, competitors and market. We have to evaluate how exactly information we collected.
And we draw results from those information, we measure that quality of information after
marketing plan’s execution. In marketing plan, we measure to know whether we have used
human, capital resource efficiently. After execution, we control to know how much budget we
spent to adjust the next plan more suitable.
• Sales analysis.
Revenue and sold apartments, achieve objectives or not
• Budgets.
We have estimated budgets before and after execution how much we have spent on
• Feedback from customers satisfaction surveys.
After purchasing, customers feel satisfied with apartments, service or management or not.
We can do research to understand and solve customers’ comments to make it better
• Customer Relationship Management (CRM) systems.
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MARKETING PLAN 2012 FOR SAIGON RESIDENCE APARTMENT Page 32
In real estate, CRM is very important. To make customer satisfied, we have to set up an
efficient CRM systems including personal information, personal ideas, comments to manage. It
is a core value of enterprise asset.
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MARKETING PLAN 2012 FOR SAIGON RESIDENCE APARTMENT Page 33
REFERENCES
Dr Vu Dinh Anh - Former Deputy Director of the Ministry of Finance (2011, August 1st) Real Estate
Market will hit the bottom in 2012. Retrieved from http://land.cafef.vn/2011080101001687CA43/thi-
truong-bat-dong-san-cham-day-vao-nam-2012.chn
2011. Luxury Apartment – Demand is increasing . Retrieved from http://www.baomoi.com/Thi-
truong-chung-cu-cao-cap-Nhu-cau-dang-tang-cao/147/5701681.epi
The Ministry of Construction. 2008. Circular of classification of apartments. Retrieved from
http://www.chinhphu.vn/portal/page?
_pageid=578,33345598&_dad=portal&_schema=PORTAL&docid=67938