1. Why is it important for companies to innovate their products?

I think innovating the products of companies is extremely important. Because the companies
have their private and different products and each product also has its life cycle. These
products just exist in a certain period of time. After that, they maybe become outdated and
uncommon. So the companies need to have the innovation campaign for them to make the
consumers continue buying and using those products and for the stable revenue source of the
companies.
2. What is innovation? Why is innovation important to companies?
- Innovation is a wide range of activities including innovating product quality, innovating
product feature, innovating model to meet the requirement of the market, thereby extending
the product’s life cycle, extending stable revenue for the business.
- Same Number 1
3. What difficulties do innovators and inventors often face along the way of
innovation?
When the products of the companies become outdated or uncommon. There will be a lot of
difficulties in business process if those companies don’t implement the innovation for their
products. But to implement this process, they also encounter many difficulties. Firstly,
nowadays when the technology and science are being developed quickly and if any
companies don’t update and upgrade the products so that suitable for the requirement of the
market, so it will be difficult for existing in the market. Secondly, for innovation, The
companies will need a lot of investment charge and for certain companies that don’t have
enough the capital, it will be difficult to implement this process.
4. What makes a good presentation?
To have a good presentation, I think anyone who are presentor need to prepare carefully and
clearly about the presentation at home before talking in front of the crowed. The first thing
we need to priortize that is our equipment during our presentation. We need to ensure that all
equipments operate smoothily. The second we should know what main purpose of our
presentation to the audience, we should focus on important issues and avoiding unneccessary
issues. And the last one, I think we should practice our voice before talking in order to attract
and inspire to the audience, making them not bored when listening.
5. How can people raise capital to invest in a new business?
Anyone wants to run their own new business but they are people who have just graduated
from University and They don’t have or not enough the capital. So what do they need to do
to raise their capital for their business. I think there are 3 ways to do that. The first I think
they should raise their capital by borrowing money from their family. Certainly, their family
always willing to help them about this. The second that is investing money together with
their friends or partners, when they start their business, they maybe meet people who have
the same purpose of business so they can easily cooperate and invest the capital together.
And the last one is borrowing money from the Bank, this is the easiest and safest way for
anyone who want to start their business.
6. Analyze the benefits and problems of using your family members’ savings for
investment in your business.
When we want to start our business, but we don’t have enough the capital for it. So I think
anything we have to do that is borrowing the money. And the best source is from our Family
members. Because Borrowing money from our family is easy and convenient. They always
willing lend us whenever we need for our purpose. Borrowing money from them, Both We
and them don’t have to worry about the unexpected problem such as: overdue and additional
payment.
7. What are the advantages and disadvantages of borrowing from the bank? What
should loan applicants do to persuade the banks to lend them money?
When I want to invest in my business but I don’t have enough money and maybe my family
or friend capital also is not enough for me. Until then, The thing that I think to that is
borrowing money from the bank. Borrowing money from the bank has a lot of advantages. I
can borrow amount of money that I need in a short period of time, with the development of
technology I can borrow money from the bank at home with just my cell phone without
getting there. Loan precedure easy to make without any fuss. But in addition the advantages,
it also exists disadvantages such as: easily generate the bad debt, easily sued if unable to pay
in full. The loan applicants should do the following to persuade the banks to lend them
money such as: proving they are Vietname Citizen, they are enough age at least 20 years old
and they have enough stable income.
8. What is market research? How can companies do market research?
Market research is the activity of collecting information about the target market and
analyzing the data collected to provide answers to problems arising in the business. Market
research helps reduce risk and supports founder's decision making.
Companies need to seek buyers 'information as well as their desired needs and responses to
improve the goods and services to maximize buyers' satisfaction.
9. Describe some common methods of market research.
To research the market, Businesses need implement more than one method to achieve high
efficiency. And I will list some popuplar methods that are being applied in Viet Nam:
Firstly, Online survey: this is a simple research market method without costly, but it often
doesn’t bring high efficiency.
Secondly, that is telephone survey. This method is not high effective, because calling directly
to customer when they are busy or inconvenient. It often cant get the high results and maybe
make the customer feel frustrated.
And the last one that is Mail survey. This method can be said is the cheapest method in 2
above methods. But the response proportion just from 3-15%. Although the response
proportion is low but this method always is the best selection for small and new business.
10. What is market research? Why is it necessary for companies to do market research?
Market research is the activity of collecting information about the target market and
analyzing the data collected to provide answers to problems arising in the business. Market
research helps reduce risk and supports founder's decision making.
Market research helps companies understand clearer and capture customer psychology that
what they want and their shopping habit in their area. Since then, helping to increase revenue
and profit for the companies.
11. Why do people sometimes lie when they answer questions in the market research?
What questions do people often lie to?
When I see certain companise implement the market research campaign, they often send their
staffs out to fullfil surveys. And the most popular way that I usually see that is direct survey.
The Staffs will approach to the customer and start their questions. And I think this will make
the customer feel frustrated and bothered because they feel time comsuming. So they usually
answer quickly or lie the staffs to get their obligation done.
Some questions that the staffs often ask the customers such as: Can you spend some minutes
for me?, Have you ever used this product before?, or Today we have just release the new
product so do u want to try it? … and so on.
12. What is advertising? Why do companies need to advertise their products or
services?
As I understand Advertising is a method that Businesses or companies often use to introduce
their product to the consumer or the customer by the ways such as: Media, Internet, Banner
or marketing. To increase the profit and revenue, Companies should implement advertising
their products to the consumer and customer. Because of advertiseing makes them know to
the company product. And if the business people know to advertise well their products, this
will make the cosumer trust in their products and then they will spread their brand to other
people. Since then, the owners easier to do their business.
13. How do companies benefit from advertising?
In business, Advertising is the important factor to help businesses increase their revenue and
profit. For businesses, advertising has a lot of benefits such as:
- Introduce a new product in the market
- Expand the market
- Increase the efficiency of Sale
- Anti Competitive
- Enhance the interaction with customer
- Eliminate intermediaries
14. How do consumers benefit from advertising?
When the consumer shopping, regardless of online or direct shopping. With the support from
Advetising, they will have a lot of selection for their shopping. They will know more
information about the product that they intend to buy and easily give decision. They easily
approach to the newest products that have been just released. They are notified about the
innovative products, new product functions or special offers.
15. What are the most common modes of advertising? Choose one of them and talk
about its advantages and disadvantages.
In Vietnam, I see there are several most common modes of advertising that companies use
such as: advertising via social internet, media, banner, marketing, direct advertising and so
on… . And among them I like the Online advertising most. Because it’s very convenient,
easy to implement and suitable for this time. Along with Online advertising, I can do it
anywhere even staying at home with my cell phone or laptop. I just need create a post about
the product that I intend to advertise and then I post it on social networks such as Facebook,
Insta, Zalo and others. But there is a disadvantage of it that is the images or posts could be
stolen by others businesses for their own purpose.
16. Talk about some special offers that companies often use to promote their products
and services.
Each company want the consumer, customer know and use more about their product so they
have to make special offers related to that product. They can implement discount programs in
special events such as: Black Friday, Valentine, or Sale Off in last month. This will make the
customer notice to that product easily and quickly. In addition, the companies can create
additionally new features and introduce them via popular advertising methods to the
customer.

17. What makes a good investment?

18. If you had $5000, what would you do? Would you use that amount of money for
investment?
Now I have a lot of intentations to do but I don’t have enough money for them. So if I have
5000$ I will save bout 2500 for my parent. The remaining 2500 I will buy my personal items
and invest in my Knowledge and experience about my career. I will spent a small amout of it
to particapate several workshops to get additionally the experience. That amount I will buy
my own apartment and its furniture, buy personal items such as: Motor, watch, clothes and so
on.
19. What business sectors or industries are highly profitable in Vietnam?
20. Why do people buy insurance? What benefits will they have when they take out
insurance?
Insurance is a way of managing risks. When you buy insurance, you transfer the cost of
a potential loss to the insurance company in exchange for a fee, known as the premium.
Insurance companies invest the funds securely, so it can grow, and pay out when
there’s a claim.
Insurance helps you:

 Own a home, because mortgage lenders need to know your home is protected.

It covers you for repairs and replacement of any damage that’s covered in your
policy. It provides protection against theft, damage from perils like fire and water,
and financial responsibility that could result from a visitor or guest being
accidentally injured on your property.
 Drive vehicles, because few people could afford the repairs, health care costs
and legal expenses associated with collisions and injuries without coverage. Auto
insurance is also a legal requirement.
 Maintain your current standard of living if you become disabled or have
a critical illness. It covers your day-to-day costs and larger expenses like your
mortgage while you focus on your health and recovery.
 Cover health care costs like prescription drugs, dental care, vision care and
other health-related items.
 Provide for your family in the event of a death. There are life insurance options
for short and long-term needs that protect your family’s home, mortgage, lifestyle
and the cost of post-secondary education for children.
 Run a small business or family farm by managing the risks of ownership. Get
owner, business and employee coverage, and provide group benefits and
retirement plans for employees.
 Take vacations without worrying about flight cancellations or emergency medical
expenses abroad.

21. How do companies benefit from competition?

In business, having competitions or competitors is very great. There are so many benefit from
this. For companies, when they have the competition it make them to have higher movitation
to reach their purpose compete with other competitors. Competition environment will help
companies know what their strength and weakness, thereby they know to change their
business methods to suit the market. In addtion, competitions also help companies focus on
keeping their potential customer from other competitors, maintaining their profit and
revenue.
22. How do consumers benefit from the competition between companies?
When companies compete each other, the consumer will get a lot of benefits from it. When
competing, the companies will give so many products in the market so the consumer will
have many choice to select the products that they really want and feel them suitable. When
competing, In the market will appear a lot of price for the same product, so the consumer can
be buy the product with the best and reasonable price. In addition, to prove and attract the
consumer to trust in their product, the companies also constantly upgrade and inovate their
product. This will make the consumer more assured about the product quality.
23. What difficulties does heavy competition bring to companies?
24. What should companies do to stay ahead of the competition?
In business, Any companies also want to surpass and prevail more than their competitors.
Therefore, They always find the ways to be more successful. The first that they must
understand clearly about their competitors, knowing about the strength and weakness of
them. To do this, they have to collect necessary imformation about the competitors such as:
new products, new feature for each products thereby drawing experience to develop theirs.
The companies also need to research about the new trends and technologies to apply into
their operation as quickly as possible.
25. What may happen to companies when their products become obsolete?
Each product also has its life cycle, from the time of Releasing to the end. Therefore, when
the product become obsolete, the companies need to research new solutions to improve that
product quality. If not, this outdated product will make inconvenient for the company. Its will
cause the company to lose revenue and profit about that product. If the product is not
upgraded, this will make the oppurtunity for the competitor create and release their new
product to the consumer. Gradually, the company is subject to lost the large number of
potential consumer.
26. How commercially successful could the following product be? If you had $1 million,
would you invest in this product: A portable mini-fridge which is battery powered?
27. How commercially successful could the following product be? If you had $1 million,
would you invest in this product: A personal helicopter which has four engines and
a parachute?
28. How commercially successful could the following product be? If you had $1 million,
would you invest in this product: A kind of hearing aid which automatically
translates from English into your language?
29. What challenges may innovators face on the way of making their products
commercially viable?
When innovators want to make their products commercially viable. I think there are 2
challenges that they have to face on are the time and new technology application. They have
to prove and make their products accepted in the market. Doing survey campaign is very
important to collect demand information of the consumer what they need thereby planning to
develop their product accordingly. The innovators also need to research about new
technologies to apply into their operation. Currently, there are still a lot of innovators who
still apply traditional methods into their operation, this will cause their operation is delayed
and will be disadvantaged against competitors.
30. Describe the typical features of 2 marketing research methods: blind testing and
dustbin survey?
31. Describe the typical features of 2 marketing research methods: blind testing and
focus group?
32. Advertising often costs companies a huge sum of money. Is the money well-spent?
What benefits do companies have from advertising?
33. Why is it said that advertising is an art of persuasion? What do advertisers
persuade customers about?
34. How do companies advertise their products? List the most common modes of
advertising and talk about one of them in details.
35. In what way can market research be unreliable?
36. Why do companies launch special offers? What special offers do companies often
use to promote their sales?
37. What would you invest in if you had a big sum of money?
38. What are some most common kinds of insurance?
39. In your opinion, what business sectors or industries are the most profitable in
Vietnam?
40. What benefits do people have when they take out insurance?