Mkt 304 Group Project Tocotoco.pdf

MKT 304

GROUP PROJECT =

MKT1703GROUP 4

Integrated marketingCommunication

T O P I C

Doan Thi Thanh Huong

Nguyễn Thị Thu LinhNguyễn Thị Ánh Hồng

Trần Đăng VinhChu Đức HoaNguyễn Tuấn Anh Nguyễn Trung Thành

Member

Analysis of CommunicationProcess

Evaluate promotional programresults/effectiveness (How/ tools)

Analysis of PromotionalProgram Situation

07

1.1 Company - Taco

1: INTRODUCTION

Taco Vietnam Trading andService Joint Stock Company,formerly known as TacoVietnam Trading Service Co.,Ltd., was established onNovember 12, 2013, is theowner of the leading milk teabrand in Vietnam - TocoTocoMilk Tea On March 16, 2017,Taco Vietnam Trading ServiceCompany Limited wasequitized and renamed TacoVietnam Trading and ServiceJoint Stock Company.International name: TACOVIETNAM TRADING SERVICESJOINT STOCK COMPANYHead office: No 105 Alley 622Minh Khai, Vinh Tuy, Hai BaTrung, Hanoi

1.2 Product

1: INTRODUCTION

In 2013, Tocotoco's first store wentinto operation with the motto"Building a pure Vietnamese milk teabrand with a strong hometownflavor" Up to now, ToCoToCo hasbecome a drink brand favored bymany fans called "national milk tea".With more than 300 stores

operating in many provinces andcities across the country, ToCoToCois a beverage system that bringscustomers love and greatexperiences.

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ToCoToCo is constantly developing, leaving the mark of bold drinks, bringing thequintessence of quality ingredients from Vietnamese agricultural products with pricessuitable for many customers Pioneering in using clean ingredients of the homeland,Toco's raw materials always come from quality agricultural products: Nghe An tapiocaflour, Moc Chau - Son La green tea, Ninh Binh pineapple, Da Lat mulberry …to createtrendy, delicious drinks.

The difference from product quality and origin has helped ToCoToCo quickly develop"speedy", dominating the Vietnamese milk tea market In 2018, ToCoToCo marked themilestone of reaching out to the US market; succeeding in landing in Australia, Korea,and Japan.

1.2 Product

1: INTRODUCTION

TocoToco does not focus on the Take Away business, but focuses on investing in theinterior space, so that this place can become an ideal place for dating, confiding andgathering with friends.

Tocotoco's menu is diverse, full of flavors as well as toppings that can satisfy allcustomers of all ages with many "signature" favorites: royal buffalo foot milk tea ,panda milk tea, tiger sugar pearl fresh milk, Not only that, Tocotoco always keepspace with each transformation, constantly innovating, updating trending products tosuit customer taste while still ensuring the brand's own quality.

1.3 Objectives

1: INTRODUCTION

Developing the brand with theword "heart": Tocotoco developswith the determination of customerquality and safety as the brand'smission, always aiming to ensurethe customer's experience withboth services and products .With the goal of solving the outputof Vietnamese agriculturalproducts, Toco advocates themaximum use of raw materialsprocessed from Vietnameseagricultural products Allingredients are made in Vietnam:green tea, starch, fruit jam,

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Developing a system with a wide store chain: ToCoToCo is proud to be one of the 10 Pacific Typical Brands" in 2021 and the most favorite milk tea brand according to a Nielsensurvey 2020 Currently, Tocotoco has nearly 500 stores spanning 56/63 provinces andcountries in the US, Australia, Japan, Singapore, and is still trying to develop constantly.Balancing the company's interests and the common interests of the community: In additionto brand development, Toco still advocates participating in community programs, activelycontributing to social activities: solving the output of source of Vietnamese agriculturalproducts, participating in charity, solving job problems for students, unemployed people,

"Asia-2.1 Internal analysis

2.1.1 Promotional/ Marketing Department organization

2 ANALYSIS OF

PROMOTIONAL PROGRAMSITUATION

ToCoToCo is a pure Vietnamese milk tea brand and attracts many young people with itsdistinctive delicious flavored drinks ToCoToCo's promotions are often very diverse to givecustomers many opportunities to experience delicious drinks at the most favorable prices.Regular discounts at ToCoToCo:

Buy 1 get 1 free 1: Content and reason: when buying any milk tea product at branchesapplying this program, customers will be given a traditional milk tea product with a choice of

toppings optionally included Thus, it is possible to both hit the customer's psychology andensure the interest rate (because traditional milk tea is the cheapest product).

Time: apply within 1 week from the date of program implementation.Free pearls: Customers will get free pearls with milk tea instead of extra money to buy.However, not all toppings are eligible for this discount, ToCoToCo only applies promotions to

certain toppings.

Discount on total bill: With this form of promotion, customers will get a certain percentage (%)off the total bill.

2.1 INTERNAL ANALYSIS

Gift voucher program when buying any 1 drink:

Content and reason for implementation: when buying at least 1 beverage product atany branch applying for this program, customers will be given 1 voucher immediately.With this voucher, when buying any 2 Xueshan tea, customers will get 1 free fruit teaof any size Thus, two product categories, Xueshan tea, and fruit tea, which areconsumed less than milk tea products, will be promoted at the same time Especially,Xueshan tea has the highest price, so when this program is effective, profits willincrease significantly.

Time: the number of vouchers is limited to 100 vouchers for all establishmentsapplying for the program The program starts 1 week after the end of the buy 1 get 1free program and is done until the voucher is exhausted.

Discount vouchers will usually have a limited number and validity, and are onlyapplied to a few branches instead of the entire system.

In addition, ToCoToCo also has many other attractive discount codes such as: OnWednesdays, the price of milk tea is 28k, and the price is 25k when buying at home Brands need to be promoted through three means of advertising:

print media (newspapers, magazines, leaflets, packaging), electronic media (radio,television,

Internet, telephone), outdoor media (pano, poster).

Marketing programs at some universities: at many major roads, districts in Hanoi, orHo Chi Minh.

Content and reason for implementation: participating students will receive a 50%discount on an invoice when filling out a customer feedback survey at the counter.After leaving, each student will receive a leaflet with information about the store'sbranches, as well as the product menu Thus, both popularizing the brand to a part ofstudents, promoting sales, and at the same time surveying the needs and feedbackof customers for Tocotoco to make appropriate adjustments.

Time: within 1 week from the date of program implementation.

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2.1.1 Promotional/ Marketing Departmentorganization

2.1.2 Firm’s ability to implement promotional program

Take advantage of raw materials from Vietnamese agricultural products

Although launched later than other brands in the same industry, ToCoToCo is increasingly asserting itsposition and strong attraction Because, this brand always strives to bring customers the best quality products,services and experiences And to reach and spread those values to target groups of customers It is impossiblenot to mention the impressive marketing strategies of ToCoToCo.

A special feature is also a strong point to create a beautiful brand image for ToCoToCo That is the use ofavailable materials in Vietnam To make a cup of milk tea, this brand will use Moc Chau tea leaves, pearls fromNghe An tapioca and Da Lat mulberry jam A bold Vietnamese brand, suitable for the taste of the majority ofVietnamese customers Not to mention, ToCoToCo is committed to the production process to ensure food safetyand hygiene At the same time, use modern milk tea making machines to bring the most delicious milk tea cups.

2.1.2 Firm’s ability to implement promotional program

2.1 INTERNAL ANALYSIS

Self-produced and supplied materials

Diverse menu with great taste

The brand also launched many campaigns to widely promote its milk tea cups, typically:

All ingredients in milk tea are self-produced by ToCoToCo For example, tea, pearls, jelly, other toppings Fromthere, you can be proactive in the supply of ingredients At the same time, reducing costs as well as ensuring thehealth of consumers.

When coming to ToCoToCo, you will be overwhelmed with the variety and richness of the menu There are 45drinks with 14 types of topping, divided into 4 main groups Includes: Milk Tea, Fresh Fruit Tea, MacchiatoCream Cheese, Flexible Yogurt In particular, Panda milk tea, Three brothers and Okinawa black diamond milktea are the best sellers of the shop that you cannot help but try It already has a topping in the recipe Therefore,you just need to adjust the amount of ice, sugar, etc to your liking.

-‘’ Bạn hiến máu - Toco tiếp sữa ‘’ , Tocotoco has prepared 400 cups of milk tea for blood donors

-‘’ Lắc tung mùa hè ‘’ The hottest event marks the impressive comeback of the national milk tea brandToCoToCo

-‘’ Học mê say, trà sữa ngất ngây’’ with TocoToco x Marathon education program-‘’ Vị giòn tan , giáng sinh rộn ràng ‘’

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Distribution system marketing purposes

Overview of the efficiency and status of the distribution system

However, this brand still has some limitations that affect the choice of customers consumers about thisbrand: here has not been a high synchronization in the decoration of stores, now every store

Colors and slogans are remembered or known by few people, especially slogans, there are very few

There are not many banner ads that reduce the progress of advertising and introduction

Regulations on attitude and service methods of employees are still limited, such as style, and gestures arenot uniform in different employees.

ToCoToCo's marketing strategies are promoted to gradually dominate the market by expanding selling pointsand increasing coverage Thereby, bringing ToCoToCo's products to most provinces At the same time, it helpsto enhance the recognition and trust of a sustainable brand In addition, it also brings high and stable revenueto ToCoToCo And franchising is a powerful and effective solution applied by this brand.

Currently, ToCoToCo has up to 400 brand-name stores in most provinces and cities across the country Ofwhich, 70% are franchise stores and there is an increasing trend In addition, ToCoToCo was present in thecity of San Jose (USA) The brand has made a big splash when entering one of the difficult markets when itcomes to F&B business It can be seen that ToCoToCo's distribution marketing strategy is very successful andeffective.

The thesis focuses on researching consumer behavior towards products milk tea products of today's youth inHanoi on issues such as information sources, brand awareness, the factors consumers care about whenbuying a product

brand products, “popular products, suggestions for improving quality service quality and best response toconsumers so that the research object

The main topic of the lesson is young people: Students, students, office workers.”.The results of this researchshow that this is a very popular brand It is widely known and widely known but it still has some weaknessesthat not many Banners advertising brands, attitudes, and uniforms of employees are not uniform…”Although doing business in the fiercely competitive milk tea market, Tocotoco is still strongly rising, more andmore perfecting the brand identity system as well as perfecting products and services to provide beverages.The current brand of the company is perfect and well known and appreciated by many consumers That is thegreat success of the Toco Toco milk tea brand An easy-to-remember, easy-to-remember name read, abeautiful logo, conveys a deep message, a slogan expressing the desire to serve

Quality products that ensure consumers' health are what consumers' users can remember about this brand.With a sense of self-improvement, in the future not far away surely the brand will be known by moreconsumers and implemented

The goal is to bring the Vietnamese milk tea brand to the international level.

The goods are arranged in a particular way.

Customers know the slogan of this brand.

brands and products to customers.

Through research and consumer evaluation surveys, brands need to promote more online marketing activities,offer more promotions forever attractive to attract more customers.”

2.1.2 FIRM’S ABILITY TO IMPLEMENTPROMOTIONAL PROGRAM

Agency: '' Bạn hiến máu - Toco tiếp sữa''

Communication goals: Through a media campaign, TocoToco wants to bring its brand closer to thecommunity This campaign expresses the noble meaning of "The leaves protect tattered ones" of theVietnamese pecreate a movement of positive action Identifying user insights during this period, which isthe need for more motivation to revive the spirit of optimism, '' is a creative idea to call every people whoperform a meaningful and appropriate positive action, to spread the wave of positive energy.Insight: The creative idea of '' Bạn hiến máu - Toco tiếp sữa '' was launched by TocoToco to Resultevaluation:

The communication campaigns that TocoToco carry out help them develop their brand not only withconsumers but also help them reach domestic and foreign partners As an example, In 2019, ToCoToCohad remarkable growth steps Annual revenue more than doubled, reaching VND 238 billion in 2019.However, the profit is not significant Although, the gross profit margin with 50%, is at a high level in thebeverage industry Currently, ToCoToCo has about 400 stores, spread in 56/63 provinces and citiesnationwide In which, up to 70% are franchise models ToCoToCo aims to reach 1000 franchised milktea shops by 2024 It is an affirmation of ToCoToCo brand value in the F&B market Not to mention, thisbrand has also received the attention of more than 1000 domestic and foreign partners.

- All medical staff give positive feedback when participating in this event

- This event brings the brand closer to consumers, giving users a positive view of the brand.- Promote the brand - Vietnamese milk tea

2.1.3 AGENCY EVALUATION ANDSELECTION REVIEW OF PREVIOUSPROGRAM RESULTS

2.2.1 CONSUMER BEHAVIORANALYSIS

They use product differentiation to satisfy different customer groups As wellas the geographical segment, the company has franchised stores in variouslocations, where each store reflects the preferences and tastes of the localmarket The stores have similar design and product categories but also manynew products are launched

Demographics will include the age, occupation, and income level of thecompany's target market Meanwhile, psychotropic variables include thetastes and styles of customers to provide authentic products for the diverseneeds of customers Behavioral factors in TocoToco's market segment canaddress consumer loyalty and consumer behavior.

Target marketing

• Make the Tocotoco brand familiar to young people across the country.• Having a chain of branches in big cities in all 3 North, Central and Southregions.

Revenue and profit:

Current revenue (calculated across 12 branches): average 2 billionVND/month.

-> Increase revenue by 10% (equivalent to 600 million) every quarter.-> Achieve a 30% margin on net sales by the end

May 2016.

Market and market share:

Reaching at least 20% of the market share of milk tea brands in VietnamSouth at the end of May 2016.

Brand and brand positioning: create a difference for the brand and become astrong competitor of brands in the same market such as Feeling Tea, Ding Tea,Momo Tea, etc To become a Taiwanese milk tea brand with flavor The mostofficial, trusted by all customers.

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2.2.2 MARKET SEGMENTATION ANDTARGET MARKETING MARKET

POSITIONING.