FUTURE TALENT MEETS THE INDUSTRY
Asia Pacific 2008
Name: Phuc Nguyen
Year of birth: 1983
University: The University of Economics, HCM City
Title of course/programme: Bachelor Degree in Business Administration
1. How do you see the market research industry evolving and how can you contribute to it?
At the present time, the global market research companies occupy a large scale of market share in Vietnam. AC Nielsen covers 70% of market share meanwhile GfK covers 60%.
The global market research firms in Vietnam give out the professtional technologies of research. Moreover, they are the exlucsive partners for the global brand of multinational companies such as Unilever, P&G etc. This brings the rapid growth of market research in Vietnam.
However, AC Nielsen and TNS doesn’t have their flexible changing for the growth of local business. The cost should be flexible with the various existence of Vietnamese local firms. In the way of pricing, the oversea firms always take high cost standing in comparisions with local firms.
This give many chances for Vietnamese local market research companies take advantages of understanding market insights from local labour. They have working force from local population which understand more the market insights. Therefore, the Vietnamese market research firms become more competitive and obtain the leading positions.
Vietnam’s entry into the WTO will create favorable condition for foreign investors. More and more foreign investors have more demand which understanding the Vietnam market. This cause a boom of developing market research industry.
Finally, Vietnam has variety of Funds were born such as VinaCapital, Indochina, IDG Venture…Their activities of business will impulse the market research.
In conclusion, Vietnam is considered as a potential market research environment.
How can I contribute to the market research evolving ?
There’s only one way to contribute is that I try to learn adequate skills of market research such as understanding how to work through the information, mastering the qualitative and quantitative research as well as putting the research into practice. In vietnam, we lack of the full intructions for all the advanced knowledge. None of universities in Vietnam have the standard syllabus for market research subject. The students have to try hard to find out knowledges by working in large company such as AC Nielsen, TNS etc. For that reason, we don’t have the good background of market research industry. Finally, martering the market research industry from basic to advanced background is the only way to contribute to the evolving of it.
2. What are in your opinion the necessary skills for market researchers in the present environment?
Market research in Vietnam is the young, inexperienced industry. In my opinion, the necessary skills is followed by:
_ Patience: market research doesn’t have the equal position in many of Vietnam business companies. We need to carry the patience to persuade their mind, to let them understand the importance of a research in the process of running business and teach them how the market research contribute to business. The role of market research need to be shaped day by day, month by month and year by year.
_ Passion: there’re so many problems and conditions of Vietnam market research to experience. If we lack of passion, we cannot build the strong mind of a long-term market research background.
_ Flexibility: many medium and small Vietnamese business companies are going to come out into the market. This brings about the variety of diversified demands from the low, simple research to the high, professional research projects. And the local market research organization have their flexibility to go with local companies.
3. How do you see your career unfolding and what are your aspirations?
Vietnam is such a potential environment for developing market research industry. With my current career of marketing, growing up the market research skill plays a very important part of developing my future.
My aspiration:
_ Desire to obtain the updated market research skills to grow up career path of marketing.
_ The well-known multinational companies such as AC Nielsen, TNS etc. give so many chances to help Vietnam medium and small businesses understand the need of market research industry.
That’s all I would like to share with you. I hope that you can see my opinions and give me another talk to discuss more about the market research industry. Thank you very much.
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