Life Coaching Industry in Vietnam

Life Coaching Industry in Vietnam Marketing study case : Better Living

Developed by Adela Yadallee

8th august 2013

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Better living: the company overview

Estabished in April 2012, BetterLiving is a Vietnamese company specialize in life & business coaching.

Business services offered: Coaching :

Coaching individuals

Coaching team

Coaching packages: + Career for you + Life Check-up

Training: Life (12 classes)

Successful Living

Live enjoy

BetterLiving operates in Vietnam

2 Developed by Adela Yadallee

Better living: the company overview

Vision

• Be the leader in the process of helping people to live happy, successful lives and enjoy each precious day.

Value

• Highly experienced team

• Continuous improvement

• Customer well-being

Mission

• A tailored services to each client in order to help them to build the best ago for a better life


Market Analysis


Macro Analysis : PEST Analysis

• Threats • Less autonomy control for any

organization.

• Influence of cultural and information Ministry

• Opportunities • Fast growing market

• Political stability

Political

• Threats • Economic downturn

• Corruption

• Lower-middle disposal income, weak currency exchange rates & high inflation rates

• Opportunities • Booming of the services sector. Life coaching

services is new and nearly inexistent

• Expected GDP growth rate to 2011 - 2020

period, averaging 7-8 % per annum

Economic

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Sources: KPMG Vietnam Market entry report

The World Bank


Macro Analysis : PEST Analysis

• Threats • New industry

• Estimating demand for life coaching services is difficult

• Opportunities • Young, educated and motivated population

(57% of the population is above 30 years old)

• Perception of the Face saving in society

• Increase in consumer demands for goods, services and travel.

Socio-cultural

• Threats • Move towards more automation vs.

personalization in service

• Internet: Price Transparency

• Opportunities • Social Media Marketing

• Vietnam is ranked as the 7th country in Asia with high proportional internet users.

Technological

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Sources: Cimigo Vietnam

Market Publisher


Life coaching: Industry Analysis

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Since 2007, there is more than 30 000 coaches working worldwide.

The coaching market continues to grow. The number of executive coaches has tended to double

The rapidly growing number of working coaches can be explain by the fact that there's not a lot of turnover

in the industry. A full 85% of coaches indicate that they intend to stay in this field for at least a decade

Most coaches indicate that it takes time to build up a client list large and reliable enough to generate a solid

income.

Coaching is a business with a lot of niche areas. Some of the fastest growing niches in coaching at the

moment include

executive coaching, which has seen a 19% increase since last year,

leadership coaching with an 18% increase

life vision and enhancement coaches with a 16% increase.

The coaching industry is tending towards clients who want help managing not just their businesses, but

their overall lifestyles.


Life coaching market: Segmentation

Demographic Psychographic

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Age : from 12 and more

Gender: Men & Women and

company (BtoB)

Income: CSP+, executive, HNWI,

UHNWI

Life cycle-stage: Family with two

children

Living: Urban population living in

biggest cities & capital

Lifestyle: looking and feeling happy

life & a better quality of life

Social Status: middle to upper

middle class individual

Values: Is seeking to provide their

children with assistance; for

advanced career counseling

advice.


Industry Analysis: Competitors Analysis

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TGM Value: belief that "every person born in her good values and great potential,“

aspiration "to make a difference for the Vietnamese and the country”

ambition "because 1 million people Vietnam more happiness and success ",

TGM strives to bring social development of training itself was a breakthrough and differentiation, as well as personal development titles phenomenal and meaning.

Strength:

Easy navigation on the website,

many products

Weakness:

more focus on children and teenager

http://www.tgm.vn/ Developed by Adela Yadallee

http://www.tgm.vn/


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Hon Viet Value: To understand yourself and help increase inner strength, for “creating the soul of

your business”

Give an effective solutions to the human resources, minimize brain drain in the trend of economic integration knowledge.

Training programs with trained psychological professional

Strength: focus on individual in their private life and professional life

Good brand portfolio

English section

Weakness: not attractive website

Weak image

http://www.honviet.com.vn/ Developed by Adela Yadallee

http://www.honviet.com.vn/


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Leader mindset value: provide a global vision system, with a clear mandate, a "first" match including conscious and

unconscious.

Teaching "Practical training - according to consultant companion International standard "design program based on the model MTC - Result ® with a completely new approach based on NLP & Hypnosis techniques (Neuron Linguistic Programming - Programming languages thinking) combined toolkit Coaching standards of the world Association of Coaching (ICF)

Strength: Good brand portfolio

Member of Group Training & Consulting Deployment PION TOP (TOP PION Group)

More qualified and experienced

Weakness: Put an english section that is not working on the website

http://www.leadermindset.vn/ Developed by Adela Yadallee

http://www.leadermindset.vn/

Industry Analysis: Mapping

13 Experienced

Qual

ity

High

High Low

based on the online content and website


Industry Analysis: Key success factor

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What do customers want?

• Superior Customer Service

• Value Proposition

• Reliability

• Delivering of Promise

• Experience

How does the firm survive competition?

• Brand Visibility

• Location

• Unique product offer and dedicated experiment team

KEY SUCCESS FACTORS

• Strong Culture & Management

• Unique Niche Service

• Location

• Servce Innovation

• Operational Efficiency


SWOT Analysis

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•Lower-middle disposal income, weak currency exchange rates & high inflation rates

•Competitive market

• Influence of cultural and information Ministry

•Fast growing market and industry

•Young, educated and motivated

•Perception of the Face saving in society

•Increase in consumer demands for goods, services and travel.

•New in the Industry (1 years activity)

• Not enough staff

• Weak communication strategy

•Niches industry

•Professional dedicated team

• A psychological practionner

• Variety of product

•Online presence

Strenght Weakness

Threats Opportunities


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Marketing solutions

For more information, please do not hesitate to

contact me: [email protected]


Life Coaching Industry in Vietnam

Health & Medicine

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