TABLE OF CONTENT

I. INTRODUCTION.........................................................................................................................2
II. DISCUSSION................................................................................................................................2
A. Definitions..................................................................................................................................2
1. Market Segmentation...............................................................................................................2
2. Target Market...........................................................................................................................3
3. Consumer Profile......................................................................................................................3
B. Overview of Công ty cổ phần bê tông và xây lắp điện...........................................................3
C. Market Segmentation:..............................................................................................................4
1. Demographic:............................................................................................................................4
2. Geographics:.............................................................................................................................5
3. Psychographics:........................................................................................................................5
4. Behavioral:................................................................................................................................6
D. Segments:...................................................................................................................................6
1. Segment 1: Young, high-income, environmentally conscious customers living in
urban areas with a history of purchasing from the business..........................................................6
2. Segment 2: Middle-aged, middle-income customers living in rural areas with a
need for residential and agricultural projects.................................................................................6
3. Segment 3: Commercial project owners with a need for restaurant, hotel, and mall
projects................................................................................................................................................7
4. Segment 4: Government project owners with a need for infrastructure and public
works projects.....................................................................................................................................7
E. KEY Market Segments:............................................................................................................8
F. Consumer Profile.......................................................................................................................9
1. Consumer profile 1...................................................................................................................9
2. Consumer profile 2.................................................................................................................10
III. CONCLUSION...........................................................................................................................10
IV. REFERENCES............................................................................................................................11

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I. INTRODUCTION
Market segmentation is the process of dividing a market into groups of customers with
similar needs, characteristics, and behavior. Target market selection is the process of
selecting one or more market segments that a business will focus its resources to serve.
Key customer identification is the process of selecting a specific group of customers
within the target market that a business will focus its marketing efforts on.

The process of market segmentation, target market selection, and key customer
identification is an important process that helps businesses understand the market,
identify the right target customer, and focus resources to serve effectively.

For the Concrete and Electric Construction Joint Stock Company (CEC JSC), effectively
segmenting the market, selecting the right target customers, and identifying key buyers is
crucial for understanding their needs, differentiating themselves from competitors, and
driving successful marketing campaigns, ultimately leading to increased revenue and
profit.

In reality, CEC JSC currently faces limitations in its market segmentation, target market
selection, and key customer identification. They haven't implemented a systematic and
scientific approach to segmentation, chosen a target market that aligns with their
capabilities, or pinpointed the most valuable customers within it.

These limitations lead to the company not understanding the market well, not focusing
resources on serving the right target customers, thereby reducing marketing effectiveness
and revenue.

To address these challenges, this article analyzes the current situation and proposes
solutions to improve market segmentation, target market selection, and key customer
identification at CEC JSC.

II. DISCUSSION
A. Definitions
1. Market Segmentation
Market segmentation is the process of dividing a broad target market into smaller,
well-defined groups of customers with similar characteristics, needs, and behaviors.
This allows businesses to tailor their marketing, sales, and product offerings to

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 specific segments, making them more relevant and effective. There are many different
ways to segment a market, but the most common criteria include: Demographics,
Geographics, Psychographics, Behavorial.
2. Target Market
The target market is the specific segment of the overall market that a business
chooses to focus on with its marketing, sales, and product offerings.
3. Consumer Profile
A consumer profile is a detailed description of a typical customer within a specific
target market. It includes information about the customer's demographic, geographics
psychographic, behavioral, and lifestyle characteristics. Consumer profiles help
businesses understand their customers better, which can lead to more effective
marketing and sales strategies, then develop products and services that meet the needs
and wants of their customers.
B. Overview of Concrete and Construction Electric Joint Stock Company

Overview
Concrete and Construction Electric Joint Stock Company was established in
March 2007 in Pleiku City, Gia Lai Province. The company specializes in the
following areas:

N0. Industry Name Industry Code

1 Wholesale of building materials and other installation equipment 4663
2 Mechanical processing; metal treatment and coating 2592
3 Road freight transport 4933
4 Wholesale of metals and metal ores 4662
5 Other civil engineering works 4299 (main)
6 Water supply and drainage works 4222
7 Concrete production and products from concrete, cement, and gypsum 2395
8 Road construction 4212
9 Housing construction 4101
10 Non-residential building construction 4102
11 Electricity production 3511
12 Transmission and distribution of electricity 3512
13 Electrical construction. 4221
14 Public infrastructure construction 4229

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 History and Development
In 2007, Mr. Le Van Loc, Chairman of the Board of Directors and Director,
officially launched the company. With over 20 years of experience in the
construction industry, the company has achieved many significant achievements.
In 2021, the company was awarded the Certificate of Conformity to National
Standards and the TQC Global Certificate. In 2022, the company's revenue
reached 65 billion dong, with an investment of 39 billion dong.

Potential for Development

With a team of experienced staff, modern equipment, and professional production
and construction processes, the company has long-term development potential.
The company is expanding its market to neighboring provinces and cities, while
also researching and developing new products and services to meet the ever-
growing needs of customers.

Some Representative Projects

Supplying poles to Gia Lai Power Company with a contract value of over 7.5
billion dong.
Construction of the Gia Lai Water Treatment Plant project with a total investment
of 100 billion dong.
Construction of a new urban residential area in Pleiku City with a total investment
of 200 billion dong.

Conclusion
Concrete and Construction Electric Joint Stock Company is a reputable enterprise
in the construction industry. With a long history and development potential, the
company promises to continue to contribute positively to the development of Gia
Lai Province in particular and the country in general.

C. Market Segmentation:
1. Demographic:
Young customers tend to be interested in housing and renovation projects, while older
customers are interested in infrastructure and commercial projects.

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Customers with higher incomes tend to be interested in higher quality and
performance concrete. They may be willing to pay more for premium concrete
options, such as decorative concrete or high-strength concrete. Customers with lower
incomes are generally more concerned with affordability. They may choose regular
concrete or more affordable concrete options.
Customers with higher levels of education tend to be interested in technical
information and environmentally friendly concrete options. They may want to know
about the ingredients of concrete, how it works, and its environmental impact.
2. Geographics:
In urban areas, there is a high concentration of people and businesses. This leads to a
high demand for concrete for buildings, roads, bridges, and other infrastructure. On
the other hand, there is a lower population density in rural areas. However, there is
still a need for concrete for homes, farms, and other rural infrastructure.
Climate: Regions with extreme climates, such as polar or tropical regions, require
special types of concrete, such as heat-resistant or cold-resistant concrete. In extreme
climates, concrete must be able to withstand the harsh conditions. For example, heat-
resistant concrete is used in polar regions to prevent it from melting. Cold-resistant
concrete is used in tropical regions to prevent it from cracking.
3. Psychographics:
Lifestyle: Customers with a DIY lifestyle may be interested in self-mixing concrete
products or turnkey concrete installation services. They may be interested in self-
mixing concrete products because they are less expensive than hiring a professional.
They may also be interested in turnkey concrete installation services because they
provide all the materials and labor needed to complete a project.
Hobbies: Customers with an interest in interior or exterior decorating may be
interested in decorative concrete products.
Decorative concrete is a type of concrete that is used to create beautiful and unique
surfaces. It can be used in a variety of applications, such as floors, walls, and
countertops. Customers who have an interest in interior or exterior decorating may be
interested in decorative concrete because it can add a touch of personality to their
home or business.
Values: Customers who are concerned about the environment may be interested in
environmentally friendly concrete products.
Environmentally friendly concrete is made with recycled materials or additives that
reduce its environmental impact. Customers who are concerned about the

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 environment may be interested in environmentally friendly concrete because they
want to make a difference in the world.
4. Behavioral:
Purchase history: Customers with a purchase history from your business may be more
likely to repurchase from you in the future. This is because they have already had a
positive experience with your products or services. They are more likely to trust you
and feel comfortable doing business with you again.
Online behavior: Customers who frequently visit your website or social media pages
may be interested in your products or services because they are actively looking for
information about your business. They may be considering making a purchase or
simply learning more about what you offer.
D. Segments:

Based on the 4 criteria of demographics, geographics, psychographics, and behavioral,

we can segment the concrete market into the following 4 segments.
1. Segment 1: Young, high-income, environmentally conscious customers
living in urban areas with a history of purchasing from the business

This segment comprises young, affluent urbanites aged 25-45 with a track record of
patronage. Characterized by college degrees or higher education, they boast annual
incomes exceeding 100 million VND. Sustainability-conscious, they readily embrace
environmentally friendly products and services. Their demand for premium concrete
offerings, including decorative and high-strength options, reflects their appreciation for
quality and durability. This tech-savvy segment frequently engages with the business's
online presence through website visits and social media interactions. Beyond their
professional pursuits, these individuals cultivate interests in interior and exterior design,
often intertwined with a concern for environmental issues. Novelty and uniqueness
resonate with them, driving their choices in both life and their preferences for premium
concrete solutions.

2. Segment 2: Middle-aged, middle-income customers living in rural areas

with a need for residential and agricultural projects

This segment encompasses middle-aged families dwelling in rural areas (45-65 years
old), characterized by annual incomes ranging from 50 to 100 million VND and typically
possessing secondary or tertiary education. Their primary need lies in acquiring cost-

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effective concrete products and services for both residential construction and agricultural
projects. Premium or environmentally-friendly options hold less appeal for this segment,
prioritizing affordability and practicality. Leisure interests often revolve around home
improvement endeavors and agricultural advancement. Stability and sustainable solutions
hold significant value for these families, alongside an evident focus on cost optimization.

3. Segment 3: Commercial project owners with a need for restaurant, hotel,

and mall projects

This segment comprises distinguished professionals, aged 35-55, boasting annual

incomes exceeding 1 billion VND and possessing college degrees or higher.
Characterized by a discerning approach, they demand technically flawless concrete
solutions that adhere to stringent standards. Aesthetic appeal holds equal importance, as
they seek products and services that complement their projects' visual elements.
Furthermore, meticulous adherence to construction schedules is non-negotiable. Beyond
their professional pursuits, these individuals exhibit a keen interest in business and
investment activities. Their core values encompass unwavering professionalism and
credibility. A strong commitment to quality and durability permeates their choices,
ensuring long-lasting results. For this segment, reputation reigns supreme, making them
prioritize partners who share their dedication to impeccable standards.

4. Segment 4: Government project owners with a need for infrastructure and

public works projects

This segment comprises established professionals, aged 35-65, with annual incomes
exceeding 500 million VND and college degrees or higher. Technical competency, safety
compliance, and environmental considerations are paramount in their concrete product
and service choices. They prioritize solutions that adhere to strict construction schedules
and budgets, often within the context of competitive bidding processes or public service
projects. Transparency and accountability are highly valued, with robust communication
and ethical practices playing a key role in their decision-making. Beyond their
professional endeavors, these individuals often exhibit a strong interest in public service
and political engagement. Their core values revolve around accuracy, transparency, and
efficiency. They demand reliable solutions delivered seamlessly, with minimal ambiguity
or delay. Building trust and fostering long-term partnerships with companies that share
their commitment to ethical practices is essential for this segment.

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 E. KEY Market Segments:

Segment 3, characterized by commercial project owners with restaurant, hotel, and mall
projects, stands out as a key target market for several reasons. First, it boasts a large and
vibrant size, fueled by the substantial demand for high-quality concrete products and
services within the burgeoning commercial construction sector. Second, it holds high
revenue potential: owners in this segment typically possess significant financial resources
and are willing to invest in premium concrete solutions, offering lucrative opportunities
for suppliers. Third, competition is currently limited, presenting a strategic advantage for
new entrants aiming to fill this market gap. Furthermore, Segment 3 aligns well with the
values and strengths offered by concrete providers:
Quality Focus: Commercial projects prioritize top-tier concrete products and services,
mirroring the aspirations of suppliers striving to deliver premium offerings.
Aesthetic Appeal: Exceptional aesthetics are often a key element in commercial projects,
perfectly complementing the objectives of suppliers who offer concrete solutions with
artistic merit.
Timely Execution: Tight project schedules are commonplace in the commercial sector,
aligning with the goals of suppliers seeking to provide concrete solutions that meet
expedited construction timelines.
In conclusion, Segment 3 emerges as a highly promising and lucrative target market for
concrete suppliers seeking to capitalize on the booming commercial construction sector.

Segment 1 Segment 2 Segment 3 Segment 4

Age 25-45 45-65 35-55 35-65
Anual Over 100 million 50 to 100 million Over 1 billion VND Over 500 million
Income VND VND VND
Education College or higher Secondary or College or higher College or higher
tertiary education
Behavior Environmentally Affordable High-quality concrete High-quality concrete
friendly products concrete products products and services products and services
and services and services that meet technical that meet technical,
Premium concrete Less interested in standards, aesthetic safety, environmental
products and premium or requirements, standards,
services environmentally construction schedule construction schedule
Frequently visit the friendly concrete requirements and budget
business's website or products and requirements,
social media pages services transparency and
competition

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 requirements
Hobbies Interested in Interested in home Interested in business Interested in public
decorating, improvement, and investment service and politics
environmental agricultural
issues development
Values Enjoy novelty and Value stability and Value professionalism Value accuracy,
uniqueness sustainability and credibility transparency, and
Value quality and Value cost savings Value quality and efficiency
durability durability
F. Consumer Profile
1. Consumer Profile 1
A seasoned leader in the construction industry, Mr. Hậu helms Gia Lai Electricity
Company with over 10 years of experience under his belt. He seeks high-quality concrete
solutions that prioritize technical expertise, aesthetic appeal, and adherence to project
timelines. Staying informed through industry conferences keeps him open to
collaborating with reliable concrete suppliers.
Gia Lai Power Company is a state-owned enterprise operating in the field of electricity
production and distribution. The company has an annual turnover of around 10,000
billion dong.
To operate and maintain power plants, Gia Lai Power Company needs to use a large
amount of concrete. Each year, the company consumes about 1 million cubic meters of
concrete for construction, repair, and maintenance projects.
With its large annual turnover, Gia Lai Power Company can purchase concrete in large
quantities that why it is a potential customer for high-quality concrete suppliers that meet
technical, aesthetic, and construction schedule requirements.
2. Consumer Profile 2
Mr. Nguyen Dinh Thuan, CEO of An Thuan Joint Stock Company, is a potential customer
for high-end concrete suppliers. Mr. Thuan has been working in the civil engineering
construction industry for over 15 years, with a long-term vision and a commitment to
creating prestigious, signature projects.
An Thuan Joint Stock Company is a reputable construction company with many years of
experience in the civil engineering construction industry. In recent years, the company
has implemented many large projects of national scale, which have been highly praised
for their quality and aesthetics.
In 2022, An Thuan Gia Lai Company reached a turnover of 5,000 billion dong, up 10%
from 2021. The pre-tax profit reached 1,000 billion dong, up 15% from 2021. These

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 impressive achievements and revenue figures demonstrate that An Thuan Gia Lai
Company is a reputable company with strong financial potential.
With the need to use high-quality concrete for the company's projects, Mr. Thuan is a
potential customer for concrete suppliers. Suppliers can reach Mr. Thuan through industry
events, personalized communication, or providing free consultations/product/services.
Both consumer profiles have a high demand for high-quality concrete products and
services that meet technical, aesthetic, and construction schedule requirements. They are
potential customers for concrete suppliers that want to focus on the commercial market.

III. CONCLUSION

Vietnam is increasingly integrating into the international community, so there will be

more and more concrete and electric construction companies on the market to meet the
increasing demand, which will make competition more intense than ever. Therefore,
businesses must invest heavily in all aspects, from input quality to output quality to have
the opportunity to expand scale and reach more potential customers.

Through this essay, we can clearly see the importance of identifying the target market and
a reasonable customer segment for a concrete and electric production company in
particular and other businesses in general. Choosing the correct segment for the company
to focus on is extremely important because it helps the center hit the right psychology,
right customer needs, help customers achieve satisfaction with the product when they
cooperate, sign contracts, and then it will also help the company develop day by day,
expand scale and reputation effectively, avoid unnecessary consequences.

Here is the conclusion of my essay, thank you to the teacher and everyone for your
patience to read this far. In the process of researching, interviewing, and completing the
essay, although I have tried my best, there may still be some mistakes and limitations.
Therefore, I hope that the instructor can give comments and opinions to help me
accumulate experience and improve better projects in the future. Thank you very much.

IV. REFERENCES

1. (Công ty Cổ phần Bê tông và Xây lắp Điện Gia Lai, 2023). Báo cáo doanh thu. Công
ty Cổ phần Bê tông và Xây lắp Điện Gia Lai.
2. (EVN, 2023). Công ty Điện lực Gia Lai đạt nhiều kết quả tốt trong năm 2022. EVN.
[https://www.evn.com.vn/d6/news/Cong-ty-Dien-luc-Gia-Lai-dat-nhieu-ket-qua-tot-
trong-nam-2022-0-14-119139.aspx]

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3. (Công ty Cổ phần Thuận An Gia Lai, 2022, trang 11). Doanh thu thuần từ hoạt động
kinh doanh bất động sản đạt 1.447,6 tỷ đồng. [https://www.tah.com.vn/bao-cao-tai-
chinh-hop-nhat/]
4. American Marketing Association. (2023). Definition of marketing.
[https://www.ama.org/AboutAMA/Pages/Definition-of-Marketing.aspx]
5. (American Marketing Association, 2023). Segmentation.
[https://www.ama.org/AboutAMA/Pages/Definition-of-Marketing.aspx].
6. Hiệp hội Bê tông Việt Nam, 2023). Danh sách các cá nhân được Hiệp hội các nhà
thầu xây dựng Việt Nam cấp chứng chỉ hành nghề xây dựng theo quyết định số
48/2023/QĐ-VCC ngày 15 tháng 12 năm 2023. [https://vacc.vn/danh-sach-cac-ca-
nhan-duoc-hiep-hoi-cac-nha-thau-xay-dung-viet-nam-cap-chung-chi-hanh-nghe-xay-
dung-theo-quyet-dinh-so-48-2023-qd-vacc-ngay-15-thang-12-nam-2023/].

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