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研究生:DO XUAN DUONG
研究生(外文):Do Xuan Duong
論文名稱:ESG Brand communication and its impact on brand management : Evidence from Vietnam
論文名稱(外文):ESG Brand communication and its impact on brand management : Evidence from Vietnam
指導教授:張馨化王志宏王志宏引用關係
指導教授(外文):Hsing-Hua Stella ChangChih-Hung Wang
口試委員:張馨化王志宏張敦程翁良杰顏昌華
口試委員(外文):Hsing-Hua Stella ChangChih-Hung WangDun-Cheng ChangLiang-Chieh WengChang-Hua Yen
口試日期:2023-12-15
學位類別:碩士
校院名稱:國立臺中教育大學
系所名稱:國際經營管理碩士學位學程(IMBA)
學門:商業及管理學門
學類:企業管理學類
論文種類:學術論文
論文出版年:2024
畢業學年度:112
語文別:英文
論文頁數:163
中文關鍵詞:ESGBrand CommunicationBrand PerformanceBanking IndustryCase StudyQualitative ResearchVietnam
外文關鍵詞:ESGBrand CommunicationBrand PerformanceBanking IndustryCase StudyQualitative ResearchVietnam
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The practice of Environmental, Social, and Governance (ESG) has become increasingly significant for businesses that aim to achieve sustainable development. In this regard, implementing ESG brand marketing practices is equally important, as it can help spread the positive values of a business to stakeholders. Firms can benefit greatly from adopting ESG brand communication practices, which can enhance a firm's reputation and financial performance. However, to fully leverage the advantages of ESG brand communication, managers must possess a deep understanding of its significance and the pressing need to implement them. Therefore, this study aims to bridge the gap between ESG practices, brand management, and ESG brand communication practices, offering strategic solutions for banks to align their ESG practices with global standards and improve brand performance. This research adopts a qualitative method and using interviews with senior brand experts of VP Bank and NCB Bank, two prominent banks in Vietnam, to analyze the current and future aspects of ESG and ESG brand marketing practices. The study employs appropriate models to identify the key challenges faced by banks in Vietnam when adopting ESG practices and ESG brand marketing practices. The expected finding of this research will identify challenges and help businesses prepare for the upcoming years.
The practice of Environmental, Social, and Governance (ESG) has become increasingly significant for businesses that aim to achieve sustainable development. In this regard, implementing ESG brand marketing practices is equally important, as it can help spread the positive values of a business to stakeholders. Firms can benefit greatly from adopting ESG brand communication practices, which can enhance a firm's reputation and financial performance. However, to fully leverage the advantages of ESG brand communication, managers must possess a deep understanding of its significance and the pressing need to implement them. Therefore, this study aims to bridge the gap between ESG practices, brand management, and ESG brand communication practices, offering strategic solutions for banks to align their ESG practices with global standards and improve brand performance. This research adopts a qualitative method and using interviews with senior brand experts of VP Bank and NCB Bank, two prominent banks in Vietnam, to analyze the current and future aspects of ESG and ESG brand marketing practices. The study employs appropriate models to identify the key challenges faced by banks in Vietnam when adopting ESG practices and ESG brand marketing practices. The expected finding of this research will identify challenges and help businesses prepare for the upcoming years.
ACKNOWLEDGMENTS i
ABSTRACT ii
TABLE OF CONTENTS iv
LIST OF TABLES viii
LIST OF FIGURES ix
CHAPTER 1. INTRODUCTION 1
1.1 Research background and motivation 1
1.1.1. The importance of ESG practices in Vietnam 1
1.1.2. The incorporation of ESG practices into brand management 2
1.1.3. ESG brand marketing practices 2
1.2 Research purpose 3
1.3 Research process 4
CHAPTER 2. LITERATURE REVIEW 6
2.1 ESG – Environmental, Social and Governance 6
2.1.1. The importance of adopting ESG in the business world 7
2.1.2. The implementation of ESG practices in banking sector 8
2.1.3. The benefit of ESG practice with brand management 9
2.2 Brand Management 10
2.2.1. Brand Equit 10
2.2.2. Dynamic branding 12
2.3 Brand Marketing practices 17
2.3.1. Brand strategic positioning 17
2.3.2. Brand Message 19
2.3.3. Brand communication 20
2.4 Brand performance 24
2.4.1. Brand Audit 25
2.4.2. Measuring brand performance 26
2.5 Competitive Forces Model: The Five Forces Analysis Model 28
2.5.1. Risk of Entry by Potential Competitors 28
2.5.2. Rivalry Among Established Companies 29
2.5.3. The bargaining power of Buyers 29
2.5.4. The Bargaining Power of Suppliers 30
2.5.5. Substitute products 30
2.6 SWOT Analysis 30
2.7 The Ansoff model 31
2.8 PEST Analysis 33
CHAPTER 3. RESEARCH DESIGN 35
3.1 Research Method 35
3.1.1. Qualitative method 35
3.1.2. Semi-structured interviews 36
3.2 Case selection 37
3.3 Data collection 38
3.3.1. Secondary data collection and sorting 38
3.3.2. Case interview 39
3.4 Research Framework 40
3.5 Research Question 42
CHAPTER 4. THE INDUSTRY AND THE CASE COMPANIES 44
4.1 An overview of banking sector 44
4.2 ESG practices in the banking sector around the world 44
4.3 Banking industry in Vietnam 46
4.3.1. Banking sector in Vietnam 46
4.3.2. The landscape of ESG practices in the banking sector of Vietnam 46
4.4 VP Bank - Vietnam Prosperity Joint-Stock Commercial Bank 50
4.4.1. VP Bank’s ESG practices 51
4.4.2. VP Bank’s ESG brand marketing communication practices 52
4.5 NCB - National Citizen Commercial Joint Stock Bank 53
4.5.1. NCB Bank’s ESG practices 54
4.5.2. NCB Bank’s ESG brand marketing communication practices 55
CHAPTER 5. STUDY ANALYSIS AND RESULT 56
5.1 The current implementation of ESG and ESG brand communication at VP Bank and NCB Bank. 56
5.1.1. ESG practices at VP Bank and NCB Bank 56
5.1.2. ESG brand marketing communication practices at VP Bank and NCB Bank 60
5.1.3. Discussion of current of ESG and ESG brand marketing communication practices at two banks. 64
5.2 The outcomes of ESG practices on brand management of two banks 66
5.2.1. The outcomes of ESG practices on VP Bank brand management 66
5.2.2. The outcomes of ESG practices on NCB Bank brand management 68
5.2.3. Discussion of outcomes of ESG practices on two bank's management 68
5.3 PEST analysis for VP Bank and NCB Bank. 69
5.4 The 5-Forces Analysis for VP Bank and NCB bank 73
5.4.1. The 5-Forces Analysis for VP Bank 73
5.4.2. The 5-Forces Analysis for NCB Bank. 75
5.4.3. Discussion of the 5-forces analysis for VP Bank and NCB Bank 76
5.5 SWOT analysis for VP Bank and NCB Bank. 77
5.5.1. VP Bank’s SWOT analysis 77
5.5.2. NCB Bank’s SWOT analysis 79
5.5.3. Discussion of SWOT analysis for VP Bank and NCB Bank 81
5.6 Brand propositioning of VP Bank and NCB Bank 85
5.6.1. Brand propositioning of VP Bank 85
5.6.2. Brand propositioning of NCB Bank 87
5.6.3. Discussion of brand positioning strategies of VP Bank and NCB Bank. 89
5.7 Banks' action plan with the incorporation of ESG principles and ESG brand communication 90
5.7.1. VP Bank’s action plan 90
5.7.2. NCB Bank’s action plan 91
5.7.3. Discussion of the banks’ action plan 92
5.8 Study discussion and analysis 93
5.8.1. Discussion of the status quo and future aspects for VP Bank and NCB Bank 93
5.8.2. Discussion of practices regarding ESG brand marketing communication in VP Bank and NCB Bank. 97
5.8.3. Proposed competitive strategy for VP Bank and NCB Bank 99
CHAPTER 6. CONCLUSION AND SUGGESTIONS 111
6.1 Research findings 111
6.2 Research summary 112
6.3 Managerial Implications 114
6.4 Conclusion 115
6.5 Research limitations and future research recommendations 116
6.5.1. Research limitations 116
6.5.2. Future research recommendations 116
REFERENCES 118
APPENDIX 1: INTERVIEW QUESTION 123
APENDIX 2: INTERVIEW DATA 128
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