Tài liệu Marketing plan for go choco biscuit

ii ACKNOWLEDGMENTS First of all, I would like to express my sincere thanks to Dr. Nguyen Minh Ha – my Project Tutor, for his useful, practical guidance and thorough directions that help me accomplish my final project. I am also grateful to Mr. Mulyono Nurlimo – Board of Director, Mayora at Indonesia who gave me a chance to try Go Choco biscuit and share useful information about the product as well as company direction. Secondly, I would like to say thanks to all Professors of MBMM5 program for their knowledge, experience and enthusiasm during two past years. The knowledge in this MBMM course make me confident, promoted in my career path. And finally, last but not least, I want to say thank you for my team at MC advertising – Ms. Ngoc Yen and Mr. Ngoc Khanh have support me in my current job while I was taking the sabbatical leave to do this project. And I also owe my closed friends and beloved family for their support in market research as well as invaluable encouragement. iii TUTOR’S COMMENTS iv TABLE OF CONTENTS DECLARATION………..…………………………………………………………………..i ACKNOWLEDGEMENT………………………………………………………………….ii TUTOR'S COMMENTS..………………………………………………………………….iii TABLE OF CONTENTS..…………………………………………………………………iv ABBREVIATIONS……………………………………………………………………… vii LIST OF FIGURES AND TABLE……………………………………………………… viii EXECUTIVE SUMMARY………………………………………………………………...ix CHAPTER I: INTRODUCTION …………………………………………………………..1 1.1 Problem Statement ....................................................................................................... 1 1.2 Objectives of the Project .............................................................................................. 1 1.3 Scope and limitation of the Project .................................................................................. 2 1.4 Research Method ............................................................................................................. 2 a. Research Design ......................................................................................................... 2 b. Sample Size ................................................................................................................ 2 c. Data Collection ........................................................................................................... 3 1.5 The structure of the Project .......................................................................................... 3 CHAPTER II: LITERATURE REVIEW .............................................................................. 5 2.1 Marketing Plan. ................................................................................................................ 5 2.1.1 Situation Analysis .................................................................................................. 7 a. The situational Environment ................................................................................... 7 b. The competitive Analysis ....................................................................................... 7 c. The internal company environment ........................................................................ 7 2.1.2 Marketing Plan ...................................................................................................... 7 a. Objectives................................................................................................................ 7 v b. STP Process ............................................................................................................ 8 c. Marketing Mix 5Ps tool .......................................................................................... 8 2.1.3 Implementation and Control .................................................................................. 9 2.2 Digital Marketing ........................................................................................................... 10 2.3 Trade Sales Promotion. .................................................................................................. 10 2.4 Customer behavior ......................................................................................................... 11 CHAPTER III: INTRODUCTION OF THE COMPANY .................................................. 12 3.1 Mayora Company and “Go Choco” biscuit brand ASIA overview .......................... 12 3.1.1 Mayora company in ASIA ............................................................................. 12 a. Mayora company at a glance ................................................................................ 12 b. Mission and Vision in ASIA ................................................................................. 13 c. Products of Mayora Company .............................................................................. 13 3.1.2 Go Choco biscuit in ASIA ............................................................................. 13 3.2 Mayora company and “Go Choco” biscuit in Viet Nam ............................................... 14 3.2.1 Mayora Company in Viet Nam ...................................................................... 14 3.2.2 Go Choco biscuit in Viet Nam ....................................................................... 14 CHAPTER IV: SITUATION ANALYSIS .......................................................................... 16 4.1 Environment ............................................................................................................... 16 4.1.1 Macro economic environmen .............................................................................. 16 a. Social and cultural environment ........................................................................... 16 b. Economic .............................................................................................................. 18 c. Political and Legal background............................................................................. 20 4.1.2 Micro economic environment ............................................................................. 21 a. Market size .......................................................................................................... 21 b. Consumer Insight and Trend 2011 and 2012 ...................................................... 24 4.2 Competitive Analysis ................................................................................................. 27 4.3 Internal Analysis ............................................................................................................ 37 vi 4.4. SWOT analysis……………………………………………………………………….39 CHAPTER V: MARKETING PLAN .................................................................................. 41 5.1 Marketing Strategy ..................................................................................................... 41 5.1.1 Segmentation, Target and Positioning Go Choco ……………………..……….41 a. Segmentation:........................................................................................................ 41 b.Target Audience. .................................................................................................... 41 c. Positioning in Viet Nam’s market ......................................................................... 41 5.1.2 Marketing Mix 5 Ps tool ...................................................................................... 42 5.2 Objectives of the Marketing Plan .................................................................................. 48 5.3 Budget and Detail of Marketing Plan: IMC Plan .......................................................... 48 5.3.1 Budget.................................................................................................................. 48 5.3.2 Detail of Marketing Plan: IMC Plan ................................................................... 49 a. Trade Sales Promotion .......................................................................................... 50 b. Digital Marketing .................................................................................................. 53 c. Sampling or Selling Activation ............................................................................. 55 d. Event and Sponsorship.......................................................................................... 58 e. CRM ...................................................................................................................... 59 5.4 Timeline table ............................................................................................................. 62 CHAPTER VI: CONCLUSION AND SUGGESTION ...................................................... 63 6.1 Conclusion ..................................................................................................................... 63 6.2 Suggestion ...................................................................................................................... 63 REFERENCES .................................................................................................................... 64 APPENDIX .......................................................................................................................... 68 a. Sampling and survey questionnaire ................................................................................. 68 b. Estimation of sales amount and cost for trade sales promotion campaign ...................... 72 vii ABBREVIATIONS BMI Business Monitor International CRM Customer Relationship Management Est. Estimated FMCG Fast Moving Consumer Goods Forex Foreign Exchange GT General Trade IBA (GHM) Internationale Bauaustellung (Fair, Berlin, Germany) IMC Integrated Marketing Communication MSG Monosodium Glutamate MT Modern Trade OOH Out of home advertising, like billboard P/E rate Relationship between Market Price (P) and Earning per Share (EPS) in stocks market. P/E= P/EPS POP Point of Purchase PR Public Relationship R&D Research and Development STP Segmentation, Targeting and Positioning TAs Target Audiences VND Viet Nam Dong Vs. Versus viii LIST OF FIGURES AND TABLE Figure 2.1: Model of Consumer Behavior…………………………………………………11 Figure 4.1: Confectionary market share in Viet Nam’s market, 2010……………………22 Figure 4.2: Turnover and profit before tax of Bibica YTD 2010…………….……………31 Figure 5.1: Huong Thuy sales and distribution model……………………………...……..47 Figure 5.2: Overview of Go Choco biscuit distribution channel……………………...…..47 Figure 5.3: The IMC plan for Go Choco biscuit………………………………………..…50 Figure 5.4: Buying Go Choco biscuit process when do selling and sampling at GT channel..……………………………………………………………………………………56 Figure 5.5: Module of Collaboration CRM………………………………………………..60 Table 4.1: Vietnamese population by age 2012 ...………………………………….…….17 Table 4.2: Viet Nam Confectionery Sales 2008 to 2015……………………………….…21 Table 4.3: The source of confectionery and cereal for Viet Nam’s market for the first nine months in 2011…………………………………………………………………………….24 Table 4.4: Criteria of consumers expect from Nelsen research 2011……………………26 Table 4.5: List of top Viet Nam brands 2009……………………….……………….….…35 Table 5.1: Ingredients of Go Choco biscuit……………………………………….………44 Table 5.2: Margin scheme proposal for Go Choco distributors……..…………………….51 Table 5.3: Trade sales promotion expense for Go Choco biscuit 2012…….……………..53 ix EXECUTIVE SUMMARY Since Vietnam has joined APEC and abided by the rules of international trade in the region, many business opportunities and investment come among the members of the organization. According to the Ministry of Foreign Affairs of Vietnam, within 10 years from the date of accession, (1998-2008), the members of APEC account for 75 % FDI, 50 % of development aid (ODA), 73 % of exports and 79 % of Vietnam's imports. The import and export taxes of confectionery industry reduced significantly by stages, from 50 to 20 % and just 5 % from 01.01.2012. In addition, Vietnam's market is evaluated as one of the safe place and has the most potential for investment in the region. Huge population creates a large market size. The Vietnamese always welcome new products from countries as long as quality assurance and great taste. Moreover, cheap labor and intellectual staff is hardworking and fast-learning new knowledge. Company Mayora clearly realize the opportunities for business expansion. April 2011, a new product, Go Choco biscuit, was launched in India and Thailand. The product is the enthusiasm of R&D of Mayora and Inbisco, the arm of company in India. Go Choco is the perfect combination between the components to create the difference compared to other product lines, for average income segment. Product has succeeded and gained impressive sales. Following this success, Mayora strongly continues to grow in doing business in Vietnam’s market. The project aims to research, evaluate and analyze the Viet Nam’s confectionery industry. This study has identified where Go Choco brand is in Viet Nam’s market, taken advantage of all opportunities and strengths and simultaneously found out Mayora and brand’s threats and weaknesses. All these results were the valuable data and were considered the most important part to understand thoroughly for the further recommendations on the marketing plan. There are many marketing activities to bring Go Choco biscuit to consumers. Which ways is right direction and shortest to achieve sales target and brand awareness. With SWOT analysis, this study proposes the most power tools and activities which provide practical x and effective in accordance with Go Choco’s positioning and Mayora's budget for the first year entering Viet Nam's market. Most of them are below the line and directly interaction to consumers and low cost. If marketing plan and its activities are properly implemented, Go Choco will be bound to win Vietnamese wholesalers and consumers’ trust and love. From this first stable stage, Mayora continues to set up a marketing strategy for company and product in Viet Nam for the long term. 1 CHAPTER I: INTRODUCTION 1.1 Problem Statement Viet Nam has joined the APEC and must comply with the conditions in FTA. The import tax for confectionery industry, as well as those to other commodities, has significantly decreased. Meanwhile, the Viet Nam confectionery market promise a high profit with near 90 million populations, and so high potential. Mayora’s mission and vision are continuously build strong brands and distribution channels in all fields, being socially and environmentally responsible and to expand their products to ASIA and become a quality manufacturer of food and beverage products that is trusted by the consumers both domestic and international market. In about April 2011, one of Mayora branch in India launched a new product, has named Go Choco sandwich biscuit and this biscuit has succeeded and continuously develop and increase the market share to Thailand and some neighboring countries. And Viet Nam is not outside of Mayora’s destination. Vietnamese consumers have rights to enjoy the taste of confectionery from different countries, have rights to choose the best one. This is also an opportunity for Viet Nam employees to approach, learn, share and work with a leading confectionery Group of Indonesia. The above mentioned reasons were the basis for the project with theme “Marketing Plan for Go Choco biscuit” in Viet Nam’s market to take shape. Through the Project, following questions will be answered:  What are the major internal and external factors that may effect to Mayora Company and Go Choco biscuit?  How big market size and what does Go Choco biscuit has to face?  From the Marketing Strategy of Mayora, how to build a marketing plan for Go Choco biscuit to reach the sales target and to build and win the consumer trust at the first year entering into Viet Nam’s market? 1.2 Objectives of the Project There are 2 key objectives the Project to research and solve as below: 2 - To research information of Viet Nam biscuit market and analyze the external and internal factors that affect to Mayora Company and new brand. And based on these factors, find out the opportunities and threats for brand. After all, re-positioning Go Choco biscuit in Viet Nam’s market. - With the above database, through analysis, building marketing plan to get the sales target in the first year company enter into Viet Nam’s market. 1.3 Scope and limitation of the Project Scope of the Project: This study only focuses on the Marketing Plan for the first year Go Choco biscuit entering into Viet Nam’s market. And the primary data about consumer comments for Go Choco biscuit were done and surveyed for 90 people in HCMC and 30 consumers in Ha Noi only. Limitation: Through a short meeting with the board of directors of Mayora in Vietnam, there are some advantages in order to do the project such as having a product sample, a company direction, an opportunity to learn about the Viet Nam confectionery industry. At the same time, there are certain limits. Specifically, detailed information about the company Mayora is just secondary data and stuffed on the internet. 1.4 Research Method This is exploratory research and writer uses both primary and secondary data. a. Research Design The research will employ a survey kind of research design to collect primary data from the consumers. b. Sample Size The total 120 samples and questionnaires were directly given to consumers whose ages range from 12 to 60 years old, class B and C. There are 90 people in HCMC and 30 people in HN. After trying the Go Choco biscuit, the interviewee gave answers in the answer sheet. Respond rate is 100%, and the valid rate was 95 % (5 % has given insufficient information). The respondents were chosen as mentioned because Go Choco biscuit is for all consumers, but in marketing plan we just focus on the primary TAs: teenagers and young with age from 13 to 23 years old and moms having kids from 6 to 12 years old, class B and C. 3 c. Data Collection: Both Primary and Secondary data Primary data has been collected from doing the sampling and get consumer feedbacks and in-depth interview 4 shop owners at wet market: 1 at old market (Cho Cu, district 1) and 3 retailers at Ban Co wet market in district 3 in HCMC. The questionnaires consult about the consumer insight, which factors influence on their selling, some competitors information. Secondary data includes information related to Mayora Company, Go Choco biscuit, confectionery industry in Viet Nam’s market, and all information about competitors of Go Choco. 1.5 The structure of the Project The Project has been organized including 5 chapters: Chapter I: Introduction. This chapter gives an overview about the problem statement, project objectives, and research method. Chapter II: Literature Review: provide theories related to Marketing Plan. It includes definition, structure of Marketing Plan, some kind of promotions and digital marketing, consumer behaviors. Chapter III: Introduction about Mayora Company and Go Choco biscuit in ASIA and Viet Nam. This chapter also gives an overview about the Mayora’s history, vision, mission, product category. The detail information of Mayora Company and Go Choco biscuit in ASIA and their business status in the Viet Nam’s market Chapter IV: Situation Analysis: Chapter III includes analysis of the external and internal factors influence to Mayora and its product from macro to micro environments as well as consumer’s insight in confectionery industry. It also indentifies the Go Choco biscuit’s strengths, opportunities as well as weaknesses and threats in Viet Nam’s market. Besides, this chapter also researches competitors’ information to know Go Choco is facing which rivals and which strengths, weaknesses they are. 4 Chapter V: Marketing Plan: From the relevant literature and analysis, this chapter proposes the Marketing Strategy and Marketing Plan for Go Choco biscuit. And chapter IV gives an action plan with detailed activities, timeline and budget for each suggestion to execute the proposed marketing plan. Chapter VI: Conclusion and Suggestion: After researching the subject, the writer gives some conclusions, along with solutions and recommendations proposed about the brand and confectionery industry in Viet Nam. 5 CHAPTER II: LITERATURE REVIEW The literature review serves as the fundamental for the Marketing Plan in the following chapters. 2.1 Marketing Plan. A simple and meaningful definition of Susan Ward (2011) about Marketing “Marketing is all about letting people know about the product or service we offer, and persuading them to buy or use it. And for effective marketing we have to let people know about our product or service repeatedly”. To do this, we're going to have to come up with both a marketing strategy and a marketing plan. So what's the difference between a marketing strategy and a marketing plan? Laura Lake (2011) quoted the marketing strategy is shaped by overall business goals. It includes a definition of our business, a description of our products or services, a profile of our target users or clients, and defines our company's role in relationship to the competition. The marketing strategy is essentially a document that we use to judge the appropriateness and effectiveness of our specific marketing plan. To put it another way, marketing strategy is a summary of company's products and position in relation to the competition; our sales and marketing plan are the specific actions we're going to undertake to achieve the goals of the marketing strategy. The marketing plan, then, can be thought of as the practical application of the marketing strategy. The marketing plan includes details about our business' unique selling proposition, pricing strategy, the sales and distribution plan and our plans for advertising and promotions. So in effect, we can't have a marketing plan without a marketing strategy. But a marketing plan without a marketing strategy is a waste of time. The marketing strategy provides the goals for marketing plans. It tells you where you want to go from here. The marketing plan is the specific roadmap that's going to get you there. 6 A successful formula that can be used to further explain the importance on marketing strategy and marketing planning looks like this: Marketing Strategy ---> Marketing Plan ---> Implementation = Success The marketing strategy consists of the "what" has to be done. It informs consumers about the product or service being offered, inform consumers of differentiation factors. The marketing plan consists of the "how" to do it. Construct marketing campaigns and promotions that will achieve the "what" in our strategy. Olivier Kupferman (2011), in the course “Business and Marketing Plan” cited that Marketing planning is not filling in a to-do list and a calendar. Marketing planning is not financial budgeting. Marketing planning is the process of defining the marketing objectives and strategy, defining the underlying actions to reach the objective and translating it into a common communication tool. And when do you do the Marketing Plan? There are 3 marketing planning moments: new business, innovation and recurrent planning. In this Project, we do the marketing plan for new business. It is as a part of a business plan, the marketing plan translates business strategy into marketing strategy (eg. branding, customer targeting) and into plan (eg. promotion). And the mission is developing the marketing plan to put the marketing strategy into action. Source: Olivier Kupferman (2011) According to William A. Cohen (2001), the Content of Marketing Plan are including: 7 2.1.1 Situation Analysis The Situation Analysis focused on market definition and the current capability of the company to serve the market. a. The situational Environment This includes macro and micro environment which affect to company and product. The macro environments are social and cultural environment, economic and technological level, political and legal background. Micro environments are market size, consumer insight and market trend. How, when, where, what and why do consumers buy product? b. The competitive Analysis Describe company’s main competitors, their products, plans, experience, know-how, financial, human, and capital resources, suppliers, and their strategy. What marketing channel do the competitors apply? What are their strengths and weaknesses? c. The internal company environment This section evaluates company’s product, experience, know-how, financial, human, and capital resources, suppliers. What are company’s strengths and weaknesses? Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis Market trends must be considered as the company develops its marketing strategies. Strengths are internal capabilities that can help the company reach its objectives Weaknesses are internal elements that may interfere with the company’s ability to achieve its objectives. Opportunities are areas of buyer need or potential interest in which the company might perform profitably. Threats are challenges posed by an unfavorable trend or development that could lead to lower sales and profits. 2.1.2 Marketing Plan a. Objectives The Marketing and financial objectives should be defined in specific terms so management can measure progress and take corrective action to stay on track. 8 b. STP Process Sara Higley (2011) quoted STP marketing, also called strategic marketing, involves finding a correct segment in which to market your product, identifying the proper target market and positioning the product to create maximum profits. The most important part of STP marketing is determining exactly what benefits your product offers and who will benefit most from using it. Segmentation Markets can be broken down into separated segments, each made up of customers with similar wants, needs and buying habits. It's important for marketing managers to identify which segment their products will fit best in. Segments can also be broken down into geographic locations. Once the segment is identified, a marketing plan should be created to meet its needs. Targeting Once a segment is identified, the next step in the STP process is to target the market. You need to identify the consumers you want to market your product to and determine the growth potential of the product in the market you choose to target. Once this is determined you need to use your marketing plan to grab a major part of the market share. Positioning When positioning a product, it's important to understand and identify the four p's of the marketing mix: product, price, place and promotion. You need to make sure you're putting the right product in the correct place, pricing it competitively, and promoting it to the right segment. Remember that place can involve both geographic locations and finding the right placement on store shelves. c. Marketing Mix 5Ps tool The marketing mix describes the way you use the primary marketing tools to achieve your company's objectives. Dave Dolak (2011) cited that marketing plan should address the 5 P's of Marketing: People, Price, Product, Promotion, and Place. If we do not start by keeping people foremost in mind we are bound to fail. After all, when we talk about markets we are really talking about people and when we create marketing plans we are 9 designing ways to effectively communicate with people. For FMCG industry, the 5 P's are in an intentional, tactical way to meet the needs of consumers. 1. Product: The product is the actual goods or services offered by the company and how it meets the end-user's needs and wants 2. People: How do people affect the perceived value of the product? People that influence that value can include employees, management, and consumers. 3. Pricing: This includes policies, action program to set initial price and discount price for wholesalers, retailers and end consumers 4. Place (distribution): the channel by which product is sold (e.g. online, direct mail, retail); which segment: kids, teenagers, moms… 5. Promotion: This includes advertising, trade sales promotion, publicity, and personal selling Communications Strategy Thus far your plan has talked about what you need to do. Now your plan must discuss how you will do it. This section will also discuss how you plan to reach and communicate with each of your market segments and how you will treat each differently. Discuss how you will position your company based upon your Unique Selling Proposition. Your Unique Selling Proposition is what you do that is different than anyone else and the single most important reason you are different than any other company. Your Unique Selling Proposition is how you will differentiate yourself from your competition. These above mentioned programs should be specific and measurable with a name, a responsible person and checked period, and a budget. The marketing plan should be coordinated with the company’s resources and activities of other divisions that contribute to the creation, delivery and communication of the product. 2.1.3 Implementation and Control Taking action to achieve items identified in marketing strategy and marketing plan. 10 Marketing budget and sales forecast to plan for expenditures, scheduling, result for each activities will be calculated. This control helps management to measure results and identify problems to adapt and have the better performances. 2.2 Digital Marketing Digital marketing is the use of digital sources based on electronic signal like Internet, digital display advertising and other digital media such as television, radio, and mobile phones in the promotion of brands and products to consumers. Digital marketing may cover the more traditional marketing areas such as direct marketing by providing the same method of communicating with an audience but in a digital fashion. Two different forms of digital marketing exist. Pull digital marketing in which the consumer must actively seek the marketing content, often via web searches, and push digital marketing where the marketer sends the content to the consumer, as in email. Websites, blogs and streaming media (audio and video) are examples of pull digital marketing. These users have to link to the website to view the content. 2.3 Trade Sales Promotion. According to Dave Dolak (2011), Sales promotions are short-term incentives to encourage the purchase or sale of a product. Media and non-media marketing communication are employed for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability. Examples include contests, coupons, freebies, loss leaders, point of purchase displays, premiums, prizes, product samples, and rebates. Sales promotions can be directed at either customer, sales staff, or distribution channel members (such as retailers). Sales promotions targeted at the consumer are called consumer sales promotions. Sales promotions targeted at retailers and wholesale are called trade sales promotions. Sales promotion includes several communications activities that attempt to provide added value or incentives to consumers, wholesalers, retailers, or other organizational customers 11 to stimulate immediate sales. These efforts can attempt to stimulate product interest, trial, or purchase. Examples of devices used in sales promotion include coupons, samples, premiums, point-of-purchase (POP) displays, contests, rebates, and sweepstakes, trade allowances, dealer loader, trade contest, point of purchase displays, training program. 2.4 Customer behavior Customer behavior is the study of how individuals, groups select, buy, use and dispose of goods to satisfy their needs and wants. Besides the marketing and other stimulus, consumers’ psychology and characteristics are the key elements for consumers make decision whether buying the product or not. Studying this provides clues for improving or introducing products and services, setting prices, devising channels, communication messages, and developing other marketing activities. Figure 2.1: Model of Consumer Behavior Source: Philip Kotler (2006) Research into all these factors can provide marketers with clues to reach and serve consumer more effectively. crafting