tiểu luận CTCP sữa việt nam (vinamilk) VINAMILK YOGURT MARKETING PLAN 2019

VINAMILK YOGURT REPORT 2019 CTCP Sữa Việt Nam (Vinamilk) Email: vinamilk@vinamilk.com.vn Website: vinamilk.com.vn download by : skknchat@gmail.com VINAMILK YOGURT MARKETING PLAN 2019 Prepared by: Hoang Khanh Huyen Nguyen Thi Thu Van Nguyen Hoang Truong Ngo Duy Hieu Class: INS3042 download by : skknchat@gmail.com TABLE OF CONTENTS EXECUTIVE SUMMARY _ INTRODUCTION Vinamilk Overview Product and Distribution Vision Statement _ Mission Statement 5 Core Value _ 6 Revenue SITUATION ANALYSIS _ Vietnam yogurt market overview _ Products Competitive analysis Macro-environment: _ CURRENT MARKETING STRATEGY & MARKETING MIX 12 Marketing Strategy: _ 12 Marketing mix (4Ps) 12 Projected marketing budget: _ 15 Controlling: _ 17 SWOT ANALYSIS 19 Strength: _ 19 Weakness: _ 19 Opportunities: _ 19 Threats: _ 19 OBJECTIVES _ 20 CONCLUSION _ 21 REFERENCE 22 WORKING DISTRIBUTION TABLE 23 Auditor’s Report _ 23 EVALUATION OF TEACHER _ 24 download by : skknchat@gmail.com EXECUTIVE SUMMARY This marketing plan will analyze several parts of Vinamilk Yogurt, which is the most popular and successful yogurt brand in the Vietnam market The investigation focuses on analyzing the yogurt market, including the overview, product, competitors and the macro -environment Besides, the research figures out the current marketing strategy, marketing mix and SWOT analysis as well From the information researched, an official and specific marketing plan for Vinamilk Yogurt during 2019 will be developed download by : skknchat@gmail.com INTRODUCTION Vinamilk Overview • The Viet Nam Dairy Products Joint Stock Company (Vinamilk) is the country's largest private enterprise in Vietnam The company was founded in 1976 For more than 40 years of development, Vinamilk has been contributing to the development of the Vietnam economy and dairy industry as well Product and Distribution • Vinamilk has more than 20 brands and 200 products including liquid milk, yogurt, infant cereal, powdered milk, condensed milk, ice cream, beverages, cheese and soymilk So far, Vinamilk has 251.000 retail outlets, more than 200 distributors across the country Besides, it is exported to 53 countries in the world (2019’s report) • Vinamilk yogurt is a dairy product produced by bacterial fermentation of milk Recently, it has yogurt brands with nearly 30 kinds of yogurt and different flavors Vision Statement “To become a world grade brand in food and beverage industry, where people put all their trust in nutrient and health products” Mission Statement “To deliver the valuable nutrition to community with our respect, love and responsibility” download by : skknchat@gmail.com Core Value Vinamilk focuses on values: • Integrity: Integrity and transparency in actions and transactions • Respect: To have self-respect, to respect colleagues Respect the Company and partners • Ethics: Respect established ethical standards and act accordingly • Fairness: To be fair with employees, customers, suppliers and other parties • Compliance: To comply with legal regulation, the Company Code of Conduct, and the Company’s procedures and policies Revenue • At the end of 2019, Vinamilk’s revenue reached VND 56.400 billion Profit before tax was VND 12.796 billion Profit after tax was VND 10.554 billion download by : skknchat@gmail.com SITUATION ANALYSIS Vietnam yogurt market overview a Demand of growth potential According to Euromonitor International, sales of yogurt in 2009 the total market in Vietnam increased by 11% compared with 2008, reaching 2.000 billion However, until 2010, yogurt products sales reached 3,300 billion VND, 2012 was 5,737 billion VND and this figure is estimated at 12 465 billion VND in 2013 Accordingly, the rate of annual compound growth (CAGR) in sales is over 31%, 14% own production According to the VP Bank Securities Company, yogurt is quite a potential item, with strong growth of 30% compared to other milk products The rate of using yogurt is higher than milk in some countries recently In France, it is 80:20; Singapore and Thailand are 70:30 to 50:50, Vietnam is about 50:50 b Yogurt market structure In general, yogurt is very diverse and has many kinds In 2009, the analysis report showed that sales of Vinamilk yogurt scale 60% industry wide sales to 105.3 million This growth is not small Nowadays, Vinamilk holds 84% of the domestic market for yogurt, 16% held by other brands such as TH true milk, Ba Vi, Moc Chau, etc Products Vinamilk Yogurt has diverse kinds of yogurt with many flavors Firstly, the original yogurt of vinamilk such as Vinamilk Yogurt (Sweetened, Low sugar or no sugar), Vinamilk 100% Fresh Milk yogurt The drinking yogurt Vinamilk Probi (Sweetened, less sugar), Vinamilk Probi Melon Favor, Strawberry Flavor, eating yogurt Vinamilk Probi mixed fruit flavor, strawberry flavor Vinamilk aloe vera yogurt, Vinamilk pomegranate yogurt Vinamilk Probeauty Competitive analysis Vietnam yogurt market is the potential market, so there are many new yogurt enterprises willing to enter this dynamic market This is also an important factor that can impact on market share as well as competitiveness of Vinamilk yogurt Currently, Viet Nam yogurt market has many different kinds of products and a lot of yogurt companies such as: TH True Milk, Moc Chau, Dalat Milk, Love In Farm, etc., in which Vinamilk ‘s the strongest competitor having main market share is TH True Milk a Strategies of TH True Milk: download by : skknchat@gmail.com 16 ❖ Television: • YEAH1 TV, VTVcab 1, VTVcab 7: Time 10s 15s 20s 11h - 11h30’: 12.000.000 VND; 25.000.000 VND; 28.000.000 VND 18 - 20h: 20.000.000 VND; 27.000.000 VND; 35.000.000 VND 20h – 22h: 25.000.000 VND; 32.000.000 VND; 40.000.000 VND • VTV1, VTV3, VTV7: Time 10s 15s 20s 18h59’: 20.000.000 VND 25.000.000 VND 32.500.000 VND 20h30’: 22.500.000 VND 28.000.000 VND 36.250.000 VND 21h – 21h30': 25.000.000 VND 31.000.000 VND 40.000.000 VND Estimating of advertising in media in gold hours is about 168.000.000 VND ❖ Internet (top banner): Size (mm) Price 24h.com.vn: 360*110 15.000 VND/click Webtretho.com: 468*90 20.000 VND/click Facebook.com: 360*90 200.000.000 VND/month Kenh14.com: 980*90 100.000.000 VND/month Estimating advertising in social networks is about 320.000.000 VND ❖ Magazine: Size (page) Price: Tuoi Tre: Whole page 20 million VND/time Lao Dong: Whole page 15 million VND/time Estimating advertising in magazines is about 35.000.000 VND c Budget for improvement: Redesign the packaging 30 million VND Improve product line billion VND Total cost for improvement is about 2.030.000.000 VND So, the total cost for all the marketing actions in 2019 is estimated about 32.553.000.000 VND download by : skknchat@gmail.com 17 Action program for 2019: Activities Advertising Television Internet Magazines Promotion Improvement Total = 32.553.000.000 VND Controlling: In order to achieve the target of the marketing plan for 2019, each department must supervise how they work From there, they need to make the reports about their activities that they are doing Research & Development: • Provide information about the market including competitors monthly download by : skknchat@gmail.com 18 • Update the trends of customer habit in the market during each quarter Sales Department • Report the sale activities from the distributors • Promoting to reach the new target during each month Marketing Department: • Manage the promotion strategies via media channels • Expand and introduce products on social networks such as Facebook Finance & Accounting Department: • Report on the budget that the companies have to pay for each event • Calculating how much we gain from the events download by : skknchat@gmail.com 19 SWOT ANALYSIS Strength: o One of the products’ lines of Vinamilk company (strong brand, big market share) o Wide distribution network throughout Vietnam and abroad with both traditional and modern channel o Competitive price o Marketing team and product research have highly experienced o One of the most modern and advanced production lines Weakness: o Marketing activities is not uniform in all locations o Products mainly focused on the domestic market Opportunities: o Quantities of potential customers- young population o Perspective "Vietnamese people use Vietnamese goods" is responding of Expanding market share because supply of raw materials are actively construction and investments o More easily in exports through incentives trade agreementsVietnam has joined o Income tends to increase per year Threats: o Trade agreements bring more competitors o Export markets face many risks o Psychological prefer foreign goods by domestic customers download by : skknchat@gmail.com 20 OBJECTIVES • Contributing to the whole company to achieve sales levels and become one of the 50 largest milk companies in the world, with the goal in the period from 2014 to 2019 reaching sales of billion dollars • Boost revenue from 8-10% • Customer satisfaction for quality of yogurt products with reasonable prices and leading distribution system in Vietnam • Marketing objective: • Launching for new product and new product packaging • Attracting more extra potential customers (about 12% new customers) download by : skknchat@gmail.com 21 CONCLUSION Based on the information in this report, it can be concluded that Vinamilk Yogurt is having many chances to develop and get more profit in the Vietnam market Since the day this product launched the market, it has become the most leading yogurt product in the Vietnammarket and it tends to expand to foreign markets However, the development of global integration has been bringing many competitive products into the Vietnam market Therefore, Vinamilk yogurt has to build a specific strategy to make the products better and attract more customers This report includes a marketing strategy that is designed as a plan for Vinamilk to continue improving and growing strongly in the future Creating new products with more flavors and improving product quality is the main strategy for product strategy Price strategy is also important, Vinamilk has to keep the price stable so that they can compete with the other competitors and remain their customers Besides, Vinamilk needs to expand the distribution across Vietnam and some new markets as well Finally, they have to promote their sale through promotion activities download by : skknchat@gmail.com 22 REFERENCE Báo cáo thường niên Vinamilk 2019: https://www.vinamilk.com.vn/static/uploads/bc_thuong_nien/15852915967f525505f3621558355a60c10f6862cbb3b9c9863921a9b06587f7b42a0f973 3.pdf?fbcli d=IwAR2SsOktbzkW0DMTusLjoZEEoXOm13pGE7RF5tLknVYuNftgC9RTtl7cbc Vinamilk.com.vn Giấ c mơ sữa Việt - Vinamilk eShop: Giacmosuaviet.com.vn Statista.com Data.worldbank.org download by : skknchat@gmail.com 23 WORKING DISTRIBUTION TABLE Auditor’s Report Member Hoang Khanh Huyen Nguyen Thi Thu Van Nguyen Hoang Truong Ngo Duy Hieu download by : skknchat@gmail.com 24 EVALUATION OF TEACHER Grade: Hoang Khanh Huyen Nguyen Thi Thu Van Nguyen Hoang Truong Ngo Duy Hieu Judgment: download by : skknchat@gmail.com ... original yogurt of vinamilk such as Vinamilk Yogurt (Sweetened, Low sugar or no sugar), Vinamilk 100% Fresh Milk yogurt The drinking yogurt Vinamilk Probi (Sweetened, less sugar), Vinamilk Probi... Flavor, eating yogurt Vinamilk Probi mixed fruit flavor, strawberry flavor Vinamilk aloe vera yogurt, Vinamilk pomegranate yogurt Vinamilk Probeauty Competitive analysis Vietnam yogurt market... Probi Yogurt VND 28,000 jars ▪ Vinamilk Probi Drinking Yogurt VND 17,000 65 ml x jars ▪ Vinamilk Aloe Vera Yogurt VND 24,000 jars ▪ Vinamilk Strawberry Drinking Yogurt VND 24,300 180ml x boxes ▪ Vinamilk