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VP of Sales for Goldsun in Vietnam, Quan H. Pham, knows the challenges of staying ahead of market trends. There are three core areas that Pham uses to meet the challenges of an ever-evolving marketplace. They include regular research and client communication, attending trade shows, and engaging with industry news. He shares his insights on using those three areas to keep ahead of the game.
Pham’s approach to market research encompasses a few things. He remains in direct and close contact with clients, staying attuned to their needs and feedback. By keeping an open dialogue, he gets an insight into which products and services are in demand, where improvements can be made, and how the company can serve clients better. Building rapport with clients beyond that of a transactional nature is something Pham learned while working in a footwear store in the central business district of Sydney, Australia. “In sales, we have to remember that clients are people. It is essential to build a relationship with each client so we can truly meet their individual needs.” The multicultural nature of a sales job, even a part-time position, gave Pham a chance to absorb knowledge and learn about people. He actively listens to his clients, working to understand underlying needs and pain points.
Pham’s market research is more than keeping communications open. Conducting regular meetings with his team where he can share his research gives the entire team a chance to adapt and take action. Proactive adaptation ensures that the sales strategies are responsive to current trends and predict future market shifts.
Next, Pham goes out in the field. Attending trade shows and visiting suppliers is a hands-on approach to learning about challenges. These business trips give him a chance to see firsthand all of the latest innovations, products, and industry trends. It all comes back to building relationships with suppliers, industry peers, and experts. Pham earned his Master’s degree in Logistics, Materials, and Supply Chain Management from the University of Sydney. He is well-versed in his industry, and fostering partnerships keeps him at the forefront of the industry.
Since his time abroad, Pham has always viewed the world and other cultures as fascinating and knowledgeable. As a project manager, Pham was able to work with a key US client, learning everything he could about the ins and outs of the company and its needs. Because he had spent time in shoe sales in college, Pham understood Western company culture. He was able to share his knowledge with his team and better meet the needs of clients. His forward thinking took him from project manager to VP of sales in nine months.
Even now, Pham takes an active role in engaging with the industry. By following industry news, such as industry publications and webinars and absorbing market reports, Pham keeps current with the market. One of the largest considerations for Pham now is the geopolitical climate. Sales leaders cannot view market trends in isolation. Recognizing factors that affect sales, from global politics to environmental concerns, Pham can incorporate the global market into his strategic planning.
These core methods have ensured that Pham’s team keeps up with emerging trends while facing challenges. His comprehensive approach to current and future market trends has driven growth and led him to great success in his career.
