Group Assignment [Mkt101] Topic Vinamilk- Cereal Yogurt.pdf

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FPT UNIVERSITY- CAMPUS CAN THO

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Group Assignment [MKT101]

TOPIC: Vinamilk- Cereal yogurt

Name of group member Contribution (%)

1. Hồ Thị Như Ý 2. Châu Thị Hoàng Anh 3. Phạm Bảo Ngọc 4. Nguyễn Mạnh Tường 5. Võ Quốc Kiệt 6. Phạm Quốc Tiến

Cần Thơ, 1/11/2022

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TABLE OF CONTENTS

I. INTRODUCTION: ………..

II. METHOD AND CONCEPTUAL FRAMEWORK:………...

III. ANALYSIS RESULTS: ………...

1. Overview about the Company:………...

a. Mission:………..

b. Vision:………

c. Business philosophy:………..

2. Analyze the current status of the company's products in the market:………...

3. Target market and customers of Vinamilk:………..

a. Target customers of Vinamilk:………..

b. Target market of Vinamilk:………...

4. Suggest new products, value of benefits. The brand positioning, brand value and the positioning statement of the new product:………..

5. Description the competitors of the company:………

6. Marketing Mix Strategy:……….

7. Shaping the Overall Promotion Mix:……….

a. Advertising:………

b.Personal salling: ……….

c. Sales Promotion: ………...

d. Public Relations: ………...

e. Direct and Digital Marketing: ………...

8. Propose a plan to launch this new product: ……….

a. Objective of marketing plan: ……….

b.Target audience: ……….

c. The communication message and content: ………...

d. Total budget of the plan: ………...

e. How to get feedback result: ………..

IV. CONCLUSION:………

V. REFERENCES:………..

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I. INTRODUCTION.

As you all know, when it comes to Vietnam's dairy market, we can't help but mention the long-standing brands that have been attached to and made the famous Vietnamese dairy brand everywhere such as Vinamilk, TH true milk, Nutifood,…. And today we will talk more about Vinamilk's dairy products as well as introduce new products that Vinamilk needs in today's competitive market.

II. METHOD AND CONCEPTUAL FRAMEWORK.

Here, our group had some actual surveys about the level of consumer demand for an innovative product from Vinamilk, we interviewed a number of customers about the use of cereals. In daily eating, up to 90% of customers are very fond of cereal-related foods because cereals are a food with many nutrients and are quite easy to eat, all ages can eat. And our team based on these theories of real-life user experiences to analyze:

1. Based on the need for product innovation, Vinamilk's yogurt product is a product that

needs to be replaced with a new layer of clothing to stimulate and meet the needs of consumers.

2. Based on nutritional factors, yogurt and cereals are two extremely good foods for

health, increasing beneficial bacteria, increasing resistance and so our group came up with a new product category that is cereal yogurt.

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III. ANALYSIS RESULTS. 1. Overview about the Company.

- Vinamilk is the largest dairy company in Vietnam. According to the report Top 200 largest enterprises in Vietnam by UNDP 2007, this is also the 15th largest company in Vietnam. Mai Kieu Lien is the Managing Director.

- In addition to strong domestic distribution with a network of more than 220,000 sales points covering 63 provinces and cities, Vinamilk products are also exported to 43 countries around the world such as the US, France, Canada, Poland, Germany, Japanand Middle East, Southeast Asia.

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- All feed for dairy cows is mixed according to the TMR (Total Alternating Mix) method. Mixed rations include: fresh or fermented grass, molasses, bean residue, ... to ensure rich nutrition, high milk production and high quality. In addition, the dairy cows will be bathed daily, playing in the meadow and especially they will listen to relaxing music every day.

a. Mission: "Vinamilk is committed to providing the community with high quality and top-quality nutrition with its own respect, love and high responsibility for human life and society".

-b. Vision: “Become the leading symbol of trust in Vietnam on nutrition and health

products for human life”.

c. Business philosophy: Vinamilk wishes to become a popular product in all regions and

territory. Therefore, we always keep in mind that quality and creativity are Vinamilk's companions. Vinamilk considers customers as the center and commits to meet all needs of customers.

2. Analyze the current status of the company's products in the market.

- Vinamilk is currently the leading enterprise of the dairy processing industry, accounting for more than 54.5% market share of liquid milk, 40.6% market share of powdered milk, 33.9% market share of drinking yogurt, 84.5% market share. share of yogurt and 79.7% market share of condensed milk nationwide.

- Vinamilk Milk Company has provided more than 250 different types of products.

+ Fresh milk with brands: ADM GOLD, Flex, Super SuSu,… + Yogurt with brands: SuSu, Probi,…

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+ Infant and adult milk powder: Dielac, Alpha, Grow Plus, Optimum Gold, Mama Gold,…

+ Condensed milk: Phuong Nam star, Ong Tho.

+ Cream and Cheese: Subo Yogurt Ice Cream, Delight Ice Cream, Twin Cows, Ice Cream Kid, Oze Cream Kid, Bow-Weared Cow Cheese.

+ Soy milk – beverage: Vfresh juice, Icy bottled water, GoldSoy soy milk.

3. Target market and customers of Vinamilk.

a. Target customers of Vinamilk: Vinamilk's product lines are focused on developing for

children in the teenage years because this age group has a high demand for milk and the consumption of dairy products is the largest.

b. Target market of Vinamilk.

- Market segmentation by age:

+ From 0-4 years old: this is a small age and needs to be provided with a lot of nutrition,

DHA for the total growth of the baby. However, because the digestive system of this age is not fully developed, there will be specialized milks such as powdered milk, not regular instant milk.

+ From 5-14 years old: the age of entering the courageous and strong growth process,

the frame will need a lot of nutrients to deliver for learning and training active muscles.

needs, so the product model needs to be compatible with the dynamic and fresh features of this age.

+ Over 25 years old: the frame gradually turns into an aging state, so dairy products need

to supplement calcium just enough for the frame.

- Market segmentation by income region: All product models have their different

prices to match the income of each person. From there, spread to Vinamilk's consumer network as much as possible. However, Vinamilk's products will still be nutritious

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enough for users whether it is cheap or expensive products. So the market segment in terms of income range in establishing Vinamilk's target market includes: low, medium and high.

4. Suggest new products, value of benefits? The brand positioning, brand value and the positioning statement of the new product.

- New product value of benefits:

As everyone knows, yogurt and cereals are very healthy foods. Today, consumers tend to use foods of natural origin instead of drugs and cosmetics to serve their health needs. That causes many bad consequences with long-term use. Understanding that, Vinamilk launched a product line that combines both yogurt and cereal, in addition to enhancing the benefits that this product brings such as effective weight loss, skin beauty, good for the digestive system, stabilize blood pressure,... we also consider the issue of product safety as well as consider a reasonable price. With the hope that all users have access to the product.

- The brand position:

Vinamilk is currently the leading enterprise of the dairy processing industry, accounting for more than 54.5% market share of liquid milk, 40.6% market share of powdered milk, 33.9% market share of drinking yogurt, 84.5% market share. share of yogurt and 79.7% market share of condensed milk nationwide. In addition to strong domestic distribution with a network of more than 220,000 sales points covering 63 provinces and cities, Vinamilk products are also exported to 43 countries around the world such as the US, France, Canada, Poland, Germany, and Japan. Middle East, Southeast Asia. In 2018, Vinamilk was one of the top 200 companies with revenue over 1 billion USD in Asia Pacific.

- The brand value:

According to the published results, Vinamilk is valued at $2.814 billion, an impressive increase of 18% compared to 2021, continuing to be the most valuable food brand in Vietnam according to this ranking. At the announcement ceremony this year, Vinamilk was also honored to receive the title of "The 6th largest dairy brand in the world".

- The positioning statement of new product:

Understanding the needs and trends of consumers, we believe that with the values of the product, it will help create attraction for potential customers, increase competition for businesses as well as create sustainable development and product diversity.

5. Description the competitors of the company.

- The demand for milk and dairy products is increasing day by day. In addition, the profit it brings is very high. That pushes other businesses to enter this market and create competition in this same segment. TH true MILK and Vinamilk are creating a war on Vietnamese milk.

- The strength of TH true MILK is that they can be self-sufficient in raw materials with a cow farm of up to 150000 cows, moreover, in addition to the usual distribution through supermarkets and retail stores, they also succeed. established more than 250 mini stores nationwide.

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- However, a weakness in terms of price, TH True Milk fresh milk is priced higher than Vinamilk fresh milk. A batch of TH True Milk fresh milk is currently priced at 26,500 VND while a block of Vinamilk fresh milk costs only 22,500 VND. In addition, this is a brand new to consumers, so it takes time to approach and position the brand in the minds of consumers.

6. Marketing Mix Strategy.

The company uses the Marketing Mix strategy in this phase, with the goal of increasing purchasing power, promoting customer loyalty, as well as the organizational process of transforming business goals and strategies.

- Product:

+ Vinamilk's products aim to provide a full range of vitamins and minerals necessary for the health and development of all consumers from adults to children. Vinamilk always ensures the purity of nature in its products so that good things come to consumers every day simply and easily.

+ In the 4P Marketing strategy, Vinamilk expands its investment in production and business with many new products such as cereal yoghurt. The main ingredients of this product include plain yogurt and cereal.

- Place: Right after the cereal yogurt product was born. After that, the enterprise will

quickly supply to retailers, distributors, supermarkets, and trade centers across the country.

- Promotion: Businesses will focus on promoting this cereal yogurt product on media

such as TikTok, Facebook, Youtube, TVCs advertising on TV,...

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7. Shaping the Overall Promotion Mix.

- Promotion mix is a form of promotion that combines many sales promotion tools to create demand for products/services, and at the same time maintain and make that demand increased.

- In the promotion mix includes 5 tools: advertising, personal selling, sales promotion, public relations, and direct marketing. The combination of tools results in higher promotion efficiency, a more comprehensive level of deployment.

a. Advertising.

- Television advertising can reach the wrong audience. Furthermore, the reach of a popular TV ad can be extended through social media and online. Beyond reach, large-scale advertising says something positive about the size, popularity, and success of the promoter.

- The ad is also very expressive. On the one hand, advertising can be used to build a lasting image of a product (such as a Coca-Cola advertisement). In addition, advertising can be very expensive. While some unrestricted forms of advertising such as newspaper, radio or online advertising can be done with a smaller budget, other, limited forms such as network television advertising, ask for very large budgets great.

b.Personal salling.

- Personal selling is the most effective tool at certain stages of the buying process, especially in building buyer preferences, beliefs, and actions. It involves personal interaction between two or more people, so each can observe the other's needs and characteristics and make quick adjustments.

- An effective salesperson always focuses on the customer's interests to build long-term relationships by solving customer problems. Finally, in personal selling, buyers often feel the need to listen and respond more, even if the answer is "No, thanks."

- However, these unique qualities come at a cost. The sales force requires a longer-term commitment than advertising advertising can grow or fall, but the size of the sales force

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is harder to change. Companies can spend three times more on personal selling than they spend on advertising.

c. Sales Promotion.

Sales promotion includes a wide assortment of tools coupons, contests, discounts, premiums, and others all of which have many unique qualities. They attract consumer attention, engage consumers, offer strong incentives to engage, and can be used to dramatize product offers and boost sagging sales. Sales promotions invite and reward quick response. Whereas advertising says, “Buy our product,” sales promotion says, “Buy it now.” Sales promotion effects can be short lived, however, and often are not as effective as advertising or personal selling in building long-run brand preference and customer relationships.

d. Public Relations.

- Public relations (PR) is very believable news stories, features, sponsorships, and events seem more real and believable to readers than ads do. PR can also reach many prospects who avoid salespeople and advertisements the message gets to buyers as “news and events” rather than as a sales-directed communication.

- And, as with advertising, public relations can dramatize a company or product. Marketers tend to underuse public relations or use it as an afterthought. Yet a well-thought-out public relations campaign used with other promotion mix elements can be very effective and economical

e. Direct and Digital Marketing.

The many forms of direct and digital marketing from traditional direct mail, catalogs, and telephone marketing to newer online, mobile, and social media all share some distinctive characteristics. Direct marketing is more targeted: It’s usually directed to a specific customer or customer community. Direct marketing is immediate and personalized: Content can be prepared quickly even in real time and tailored to appeal to individual consumers or brand groups. Finally, direct marketing is interactive: It allows a dialogue between the marketing team and the consumer, and messages can be altered depending on the consumer’s response. Thus, direct and digital marketing are well suited to highly targeted marketing efforts, creating customer engagement, and building one-to-one customer relationships.

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8. Propose a plan to launch this new product.

a. Objective of marketing plan.

- At the end of 2021, Vinamilk's total consolidated revenue exceeded VND 60,000 billion for the first time. Notably, the fourth quarter of 2021's consolidated revenue grew by approximately 10%, the fastest quarterly growth in nearly 5 years. This revenue record is contributed from all 3 segments: domestic, export, and foreign branches.

- It is expected that in 2022 Vinamilk will launch a new product, which is yogurt mixed with different cereals. It is predicted that revenue in 2022 will have many fluctuations as follows:

+ From the first 1 to 2 months: After the product is launched, the revenue will increase

slightly from 0.5% to 1% because this is When consumers receive and recognize the product, they do not really believe in the product, so there will not be many products sold. At this stage, Vinamilk will spend a lot of money on advertising and PR to bring the product closer to consumers, so the revenue may be lower than the previous estimate or it may be a slight loss.

+ From the next 3 to 6 months: Revenue may increase sharply by 5% because, at this

time, consumers have specific views about cereal yogurt products, and now they have certain beliefs. taste and quality of the product. During this time Vinamilk will not spend a lot of money on advertising and PR because at this time consumers already know the product and they start using the product more.

b.Target audience.

- Vinamilk's target market share is the users of dairy products in our country, especially important in the mid-range price segment. Even Vinamilk's organic product samples are cheaper than other brands and do not have too many unique flavors, still serving the needs of users.

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