Tài liệu đọc của môn Tiếng Anh B1/ Đại học nội vụ Hà Nội

lOMoARcPSD| 39099223 Abstract
This study helps to analyze the necessary strategies for Momo's influence today. Using a
qualitative method, it helps the study to use available data and clearly analyze the strategies
of Momo E-wallet. From there, the study clearly analyzes the matrices and the factors
affecting the presence of Momo. Strategies show that Momo is currently developing but
still has limitations, Momo as well as other businesses in the same industry need to improve
to bring efficiency to the product.
2.2. EXTERNAL ASSESSMENT
2.2.1. External Factors Economic
Economic benefits include lowering costs and boosting benefits when using Fintech to
perform financial operations. When compared to traditional transactional mediums,
Fintech transactions might be less expensive for the user (Mackenzie, 2015). Economic
value has a good influence on the notion of using electronic payment systems, according
to (Ryu, 2018) and (Lee & Teo, 2015)
Money transfer and receiving services are presently available through the MoMo wallet,
and all other services are entirely free. Customers also get a number of discounts when they
use MoMo's services, such as recharging their phones, ordering food, and so on. Using e-
wallets would save a lot of unneeded money for students who do not have a steady income,
especially in an era when everything is becoming more and more gorgeous. Social Influence
Customers' social impact may be defined as the level to which those close to them in society
(such as family, friends, and coworkers) trust them when they use the services. Customers
are more likely to utilize fintech services if they see others in society doing so(Koksal, lOMoARcPSD| 39099223
2016) As a result, social influence may be a powerful motivator for customers to use
services (Abrahão et al., 2016; Isaac et al., 2019; Kissi et al., 2017) . Technological
Technology has made a huge impact on momo through the effectiveness of momo wallet
bringing in a huge number of customers . MoMo e-wallet is a financial application for
smartphones that is accessible on both iOS and Android operating systems, according to
M Service . It allows for rapid money transfers, is simple to use, and is completely secure
. MoMo ewallet promotes the cashless economy as a mobile payment platform. It offers
customers a one-touch payment experience with over hundreds of utilities to help them pay
for all of their needs, including top-up money for all mobile service providers, utility bill
payment, internet, consumer loans, movie tickets, airline tickets, and hundreds of other
services, all of which are available anytime, anywhere, and for free.
2.2.2. Competitive Profile Matrix – 5-forces model Threats From Newcomers
New entrants in the Internet Software & Services market provide innovation and new
ways of doing things, putting pressure on Momo Inc. to decrease prices, cut expenses,
and offer new value propositions to customers. To maintain its competitive advantage,
Momo Inc. must handle all of these problems and erect effective barriers.
Suppliers' Bargaining Power
Almost every company in the Internet Software & Services market gets its raw materials
from a variety of sources. Suppliers with a strong position in the market might reduce
Momo Inc.'s market margins. Suppliers with clout in the technology industry use their
clout to extort higher costs from companies in the Internet Software & Services business. lOMoARcPSD| 39099223
Higher supplier negotiating power has the overall effect of decreasing Internet Software & Services profitability.
Buyers' Bargaining Power
Buyers may be a demanding bunch. They aim to get the greatest deal possible by
spending the least amount of money feasible. In the long run, this puts a strain on Momo
Inc.'s profitability. The smaller and more powerful Momo Inc.'s customer base is, the
greater the customers' bargaining power and ability to seek increasing discounts and offers.
Substitute Products Or Services Threats
Industry profitability decreases when a new product or service satisfies comparable client
wants in different ways. Services like Dropbox and Google Drive, for example, can be
used to replace storage hardware devices. If a replacement product or service delivers a
value proposition that is significantly different from the industry's current offerings, it poses a significant threat.
The Rivalry Between Current Competitors
If there is fierce competition among current participants in a sector, prices will fall and
the industry's overall profitability will suffer. Momo Inc. competes in a crowded Internet
Software & Services market. This rivalry harms the organization's overall long-term profitability.
2.3. STRATEGY GENERATION lOMoARcPSD| 39099223 SWOT Matrix Strengths
• More than 400 transaction sites in 45 provinces, connecting 25 banks and directly connecting with 11 banks.
• A user-friendly interface allows you quick access to transactions with only a few touches. • Use Momo with caution.
• Accumulate a large number of presents in conjunction with appealing advertising.
• Recharge your phone, buy movie tickets on the aircraft, and so forth.
• Pay your bills fast, efficiently, and instantly. Weaknesses
• Momo only allows withdrawals at its transaction points or needs funds to be sent back to a bank account.
• You must pay a money transfer fee when depositing funds into a bank account that is not linked to Momo.
• If a customer already has an Internet banking account, they seldom use Mono unless
they want to take advantage of Momo's promotions.
• The program requires an internet connection. Opportunities
Today, there is a growing need for electronic money payments in Vietnam. However,
there aren't many e-wallets, and there aren't many different kinds. As a result of the
diversified Momo system and connections with several banks, it will be ideal for
everyone, regardless of whether or not they have a bank account. Threats
• People are accustomed to paying in cash. lOMoARcPSD| 39099223
• In each payment circumstance, a different payment instrument will be utilized.
• Because the e-wallet is a financial product, brand reputation is critical.
• Banks there are now online transactions to settle consumer costs. SPACE MATRIX
Financial Position (FP) Working Capital •
MoMo, Vietnam's No. 1 Super App, has completed its fourth round of fundraising
(Series D) with the world's best investors, including new investors Goodwater
Capital, Kora Management, and Macquarie Capital, as well as current investors
Warburg Pincus, Affirma Capital, and Tybourne Capital Management. This round
of funding is headed by Goodwater, a Silicon Valley (USA) financial investment fund, and Warburg Pincus. •
The newly raised capital will be used to build a new Super App platform, upgrade
MoMo's ecosystem to serve tens of millions of users and business partners in
Vietnam, and launch "MoMo Innovation Ventures." (MoMo Innovation Ventures)
aims to help innovative startups grow and find markets by connecting with the
MoMo ecosystem's large user base. Leverage
• According to Nikkei Asia, Mizuho Bank of Japan will purchase a 7.5 percent
share in Mobile Online Services Joint Stock Company (M-Service), the owner of
ewallets in Vietnam, by the end of this year. The bank intends to contribute 20
billion yen (equal to 170 million USD) to generate financial leverage for the
Vietnamese company's retail operation.
• In addition to Mizuho, WF Investments, a Hong Kong-registered fund, has
become a new investor in M-Service. The Vietnamese business received roughly lOMoARcPSD| 39099223
$200 million in total for this fundraising round. Goodwater Funds and Kora
Management, both existing investors, also donated capital.
• The new investment raises the worth of the application's owner, MoMo, to almost
$1.5 billion. According to sources, M-Service chose JPMorgan to manage the financing process. FB: +4
Stability Position (SP) Competitive pressure
The current stage is the time to debut the market, and e-wallets are concentrating on
recruiting and forming customer habits. As a result, the rivalry from cash in the
payment business puts MoMo and other e-wallets under pressure.
Barriers to entry into market
• The first challenge is winning clients' confidence and convincing them to
utilize the wallet. This is a significant difficulty for businesses because when
customers trust them, firms may install services and "sell" their utilities.
• The second challenge is that many individuals in tough and distant places do
not have a bank account. Because of this, e-wallets have only been widely
implemented in three major cities: Ho Chi Minh City, Hanoi, and Da Nang. SP: -2
Competitive Position (CP) Market Share
According to the survey results, 77 percent of users reported that when asked
about the brand that comes to mind first (Top of mind service), they think of
the MoMo Wallet payment application, 97 percent of users' awareness, and
account for 68 percent of the market share of mobile payments in Vietnam. lOMoARcPSD| 39099223 Product Quality
MoMo e-wallet was just named one of the "Top 10 Brands with the Best
Customer Experience 2020" by KPMG. There are some well-known names on
this list, such as Vietcombank, Prudential, Vietnam Airlines, and Tiki... The
poll is being done for the first time in Vietnam, and MoMo is the only e-wallet mentioned. CP: -1 Industry Position (IP) Growth Potential
MoMo's business results have exceeded expectations due to the rapid expansion
of mobile payment methods in Vietnam, with the majority of the youthful
people embracing technology and choosing wireless payment methods. Cash
is accepted for both online and point-of-sale purchases. Profit Potential
• Carriers always offer a very tempting discount for agents, especially payment
gateways with significant transaction volumes, when it comes to feature phone
money. E-wallets will be prepared to "share" between 4% and 5% of the
commission with the consumer while still keeping a large differential.
• Similarly to the preceding, cryptocurrency, water bills, services, and so on are
always discounted for e-wallets. While this money is not big per transaction, it
will become much more significant when the number of transactions per day increases.
• But that does not have to be the most appealing "commission" account, ewallet
to "giants" of E-commerce. E-commerce floor has always had a highvalue
Affiliate Marketing scheme since its inception (up to 7 percent on each successful payment product). lOMoARcPSD| 39099223 IP: +4 BCG Matrix
Momo is leading and incredibly successful, with 68 percent of students using the school
e-wallet, and MoMo, the No. 1 Super App in Vietnam, has completed the fourth round of
investment (Series D) from developers. Momo is featured among the world's leading
investors, including new investors Goodwater Capital, Kora Management, and Macquarie
Capital, as well as longstanding shareholders of Warburg Pincus, Affirma Capital, and lOMoARcPSD| 39099223
Tybourne Capital Management. A BCG matrix star with tremendous development potential. IE Matrix Total 3 Score Space 2 EFE 1 3 2 1 Total Score Space IFE
We can see from the IE matrix that momo is incredibly powerful when it is very
successful and popular in the Vietnamese market, but it still has to continually think of
new methods to deal with the forthcoming challenges. to be able to keep the number one spot at all times.
All of the following data from the matrices is sufficient to present an overview of momo.
A massive company with an incredible growth rate and even without a competent lOMoARcPSD| 39099223
competition, but at a hefty expense. The ability to hold the No. 1 position does not come
cheap, but it will provide tremendous benefits to this developing organization.
2.4 STRATEGY IMPLEMENTATION
2.4.1 Market segmentation Geographics Contry Vietnam City
the whole territory of vietnam Languages English, Vietnamese Area Southeast Asia (SEA) Population 97.34 million people Demographics Age 16+ Gender Male, Female Income
Low,middle and high income market segments Life stage Single, couple, family Psychographics AIO: Activity,
People who like to pay fast but don’t have to use cast,love Interest, Opinion technology Attitudes Negative, neutral, positive Behavioral Benefit sought
Shipping money - get instant, money phone recharge - up to 4%
discount travel - easy travel, find everything in 1 touch multiple
security, international standards lOMoARcPSD| 39099223
2.4.2 Product Positioning
• MoMo is a market leader in Vietnam for mobile e-wallet services, professional
services at the point of transaction (OTC), and payment platforms (payment platform).
• More than 4,000 MOMO outlets have opened in 45 provinces/cities around the
country, allowing more than 1.5 million clients in distant locations, where banking
services and cellphones are still unavailable, to access the main website service.
• With over 6 million users, the MoMo Wallet application is now accessible on two
popular operating systems: iOS and Android. MoMo, a mobile payment network
that promotes a cashless economy, provides hundreds of payment and retail options with a single tap.
• MoMo now has 15 foreign bank partners. MoMo customers may pay for all
everyday necessities such as electricity/water/internet/cable TV; purchase air
tickets, auto tickets, rail tickets; purchase all rap movie tickets; order maid service;
purchase fresh flowers...: Install installment loans from all major financial firms.
MoMo's goal is to reach 50 million app users by 2020.
• MoMo has won several important domestic and international honors.
• MoMo was honored to be named the No. 1 E-Wallet in Vietnam on April 17,
2018. This is the outcome of the first-ever "Vietnam Typical E-Wallet Voting
Program" held by Nhip Cau Dau Tu Magazine. Chap 3: RECOMMENDATION
3.1. There are significant withdrawal costs
This is one of the most significant downsides of Momo e-wallets, as well as many other
e-wallets. Withdrawing cash from a bank account costs approximately 1000, but
withdrawing cash from Momo e-wallet can cost up to 35,000, thus Momo should
evaluate this price to be more ideal for clients utilizing the service.
3.2. Load and withdrawal points are not used much these days. lOMoARcPSD| 39099223
If you want to withdraw cash you have to go to the deposit / withdrawal points of the
Momo wallet, but these withdrawal points are not as popular as ATMs so you have to
find them through the Momo. ewallet, so Momo should consider this issue in order to
make customers feel comfortable and to make the service easier to use.
3.3. A discount on the purchase of a low-cost phone card
According to the post 2 ways to make money with your simplest Momo wallet, while
purchasing a phone with Momo wallet, you will receive a 2 percent -5 percent discount.
This discount is rather modest when compared to other e-wallets like Zalopay (3.2
percent -6.8 percent), VTC Pay (4.4 percent -9 percent), and so on. Momo should
examine this issue in order to continue growing and developing the Vietnamese market into a successful business. CONCLUSION
In the 4.0 era, it brings convenience to people today. Through the above research, it
shows that the current Momo e-wallet has really clear strategies. Momo e-wallet has been
well analyzed, the major influences affecting the development of Momo. Momo's
strategies are thoroughly investigated and fully informed of them, internal factors
analysis, external factor analysis, strategy generation, strategy implementation and
recommendations for remaining limitations. at momo's. From the above analysis, the
number of people who know about Momo wallet, the huge number of people who trust
and use it, have the answer. The convenience, safety and prepared strategies of Momo
have reached the market in a good way. lOMoARcPSD| 39099223 REFERENCES :
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