LQT Talk #05: Mutual Marketing between 3 services F&B, AirBnB & Travel in 1 ecosystem

On January 26, the LQT Talk #05 event with the theme of Marketing was honored to welcome and chat with Founder of The Joi Factory – Mr. Thu Nguyen in a cozy space at The Joi Factory restaurant.

Owning an ecosystem providing services for 3 activities for foreign tourists: Accommodation – Cuisine – Tourism, Mr. Thu Nguyen focuses on building consistent marketing activities, creating a positive and special image of all three services in the eyes of customers.

THE FORMATION AND DEVELOPMENT PROCESS OF THE JOI FACTORY

Mr. Thu Nguyen started his business with the AirBNB model, at that time, he rented out short-term or long-term serviced apartments to international guests. Realizing that when tourists came here, in addition to the need to find accommodation, they also wanted to explore Vietnamese cuisine and culture, he also worked as a tour guide. Then, to optimize the available customer base from the above two services, The Joi Factory restaurant was established.

The Joi Factory restaurant not only provides food and drinks, below is a full list of services that the restaurant provides:

• Food and drinks
• Workplace
• Music
• Community events

All the most common needs of tourists coming to Vietnam can be met in the ecosystem that Mr. Thu Nguyen has built. The JOI Factory Restaurant is no exception, for the customer base of foreign tourists who want to explore vegan cuisine in Vietnam, they can easily access and try it at the restaurant.

However, it was not until the Covid-19 pandemic that the image of The Joi Factory brand became popular in the eyes of the surrounding people (including those who are not customers).

THE PRINCIPLE OF “MARKET BASED ON THE REAL VALUE OF THE BUSINESS”

At the peak of the COVID-19 pandemic, when social restrictions occurred, providing food to the homeless became a concern of many charities. The restaurant’s “Must Do” campaign gathered sponsors, produced and delivered food to people in difficult circumstances and homeless people on the streets. The “Must Do” campaign emerged as a phenomenon, unintentionally enhancing the brand reputation and brand recognition for The JOI restaurant chain.

Regarding marketing strategy, Mr. Thu Nguyen did not use too many paid media to attract target customers. For the first restaurant, he attracted nearby office workers with posters of vegetarian food images and the slogan “The Joi Factory produces delicious dishes from Vietnamese plants, helping you increase happiness”.

In the next restaurant opening in District 7, due to the difference in geographical location, he targeted many different audiences such as families and businessmen, choosing JOI Factory to discuss business, from which to come up with appropriate marketing activities.

Mr. Thu Nguyen shared that once you have chosen a path to take, go all out and always keep a positive attitude moving forward.

LQT Talk #05 concluded with countless useful lessons for students by connecting businesses in the ecosystem and benefiting each other. With the knowledge and practical sharing from Mr. Thu Nguyen, students of the LQT Bachelor of Business program have more perspectives in the role of a startup entrepreneur, creating marketing strategies based on the heart and values ​​that the business truly aims for.

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