MARKETING MIX 7PS OMACHI VS hảo hảo INSTANT NOODLES ACHIEVING OVERALL BUSINESS OBJECTIVE BY MARKETING STRATEGY

Table of Contents INTRODUCTION MARKETING MIX 7PS OMACHI VS HẢO HẢO INSTANT NOODLES ACHIEVING OVERALL BUSINESS OBJECTIVE BY MARKETING STRATEGY COMPANY OVERVIEW .9 CURRENT MARKETING SITUATION 11 MARKETING OBJECTIVES .13 SEGMENTATION, TARGETING AND POSITIONING (STP) 13 TACTICS AND ACTION 16 ALLOCATION OF RESOURCES .17 EVALUATING AND MONITORING MARKETING PLANS 17 CONCLUSION 18 REFERENCE LIST .18 INTRODUCTION MARKETING MIX 7PS OMACHI VS HẢO HẢO INSTANT NOODLES Competitor of Omachi Instant Noodles are Hảo Hảo Instant Noodles – belong to Vina Acecook Company which currently is number one Instant Noodles Company in Vietnam holding 51.5% of Instant Noodles market share in Vietnam (VNlogic, 2017) 7Ps Omachi Hảo Hảo Product Omachi is well-known to be the first Hảo Hảo is well-known to be the instant noodle product providing not number one Instant Noodle Brand in only convenience but also nutritions Vietnam (ref) Noodles of Hảo Hảo and is good for health Omachi are tough and chewy – preferable produces kind done-to-a-turn potato of noodles for Vietnamese noodles (not burned, not oxygenated people’s taste – cause of diabetes, cardiovascular The brand name “Hảo Hảo’’ is catchy problems and easy to remember (ref) and cancer), which handles consumers’ worries about Hảo eating instant noodles before With different basic flavours (chicken, beef, Omachi, secure spicy and sour shrimp,…) so that the about message “Delicious and Not customers have a wide range of Afraid of Heat” – an extremely choices customers successful strategy feel of Masan Consumer The word “Omachi” in bright red gives “undeniable attractiveness” – slogan of Omachi Instant Noodles Letters “o”, “a”, “c” and “I” with white circles potatoes inside that stand are for chosen fresh for Hảo Instant Noodles have Omachi At the top right corner, stars show first-class and stand for spreading over continents Omachi creates various models with different flavours so that its customers have a wide range of choices Omachi also achieved success with the new a huge product “Omachi Special Bò Hầm Sốt Vang” that provide 96 million of Vietnamese with Price a complete meal full of nutritions Price is an important P of Marketing As long as Hảo Hảo’s target market is Mix It must be appropriate with the low-end (for students, farmers and values that customers receive As the one who live in big cities but have long as Omachi’s target market is low income), Vina Acecook company premium and provides a high-end, Omachi sets an economical price for Hảo Hảo high-quality product Instant Noodles of 3600VND/pack which is good for health and sets not and /box/30 packs a cheap price In 2018, giá bán lẻ, Vina Acecook has applied market bán luôn… penetration pricing strategy (5 years For high-qualities series like Omachi ago, price was 1500VND/pack, next Special, company uses Premium years the price was 2500/pack and Pricing currently – a higher price than it is 3500/pack) competitor’s one This pricing is for As Hảo Hảo is a popular brand the that created for low-end market, it might consumers receive For company, be company’s best decision of all quality of product this affirms that it has a unique, one time when setting a remarkably low and only product (Potato Noodles) price at the beginning It made Hảo For customers, this guarantees that Hảo noodles became noticeable for Omachi is a highly qualified product people with low income After a On the other hand, is is also a certain amount of time, Hảo Hảo got challenge for the company when it a place in the heart of customers as has goes well as its brand become famous together with the values it provides among them It is the main reason for consumers Company must take why Hảo Hảo is still number one a good care of product taste and Instant Noodle brand to make sure price packaging to maintain customer’s trust For common series like Omachi Chua Cay, company applies pricing for market penetration This definitely attracts customers when a pack of Hảo Hảo Noodles costs 3600VND, while Omachi costs only 3500VND In addition, Masan uses Bundle Pricing: a box of 30 packs cost cheaper than a pack This makes a huge difference when Place buying Omachi instead of Hảo Hảo Main distribution channels are Main supermarkets supermarkets (modern trade), glocery (modern trade), distribution at local channels markets are glocery stores at local markets and stores and convenient stores (general trade) convenient stores (general trade) Currently, Potato Noodles of Omachi Currently, Hảo Hảo Instant Noodles are distributed to over 60000 outlets are distributed to over 600 distribution and 100 distribution agents (owned agents by its company) throughout Vietnam throughout Vietnam and each region and each region has its Business has its Business Office (in Hanoi, Da Office (in Hanoi, Da Nang, Can Tho Nang, Can Tho and Ho Chi Minh and Ho Chi Minh City) City) Moreover, Masan Food took a really Moreover, Vina Acecook also took a good care of their noodles when really good care of their noodles placing them in supermarkets and when placing them in supermarkets department stores Omachi Instant and department stores Hảo Hảo Noodles are placed at the entrance, Instant Noodles are often placed at promotion zone They are also the promotion zone They are also positioned at the top spot - eye level positioned at the top spot - eye level on instant noodle shelves on instant noodle shelves It is understandable that Instant It is understandable that Instant Noodles have various distribution Noodles have various distribution channels as they are the product of channels as they are the product of different different types of customers It (owned by types of its company) customers It ensures the characteristic of Instant ensures the characteristic of Instant noodles – convenience As anybody noodles – convenience As anybody can easily buy Instant Noodles in can easily buy Instant Noodles in every single corner of the country, it every single corner of the country, it is is considered as the most common considered as the most common quick-and-cheap meal in Vietnam quick-and-cheap meal in Vietnam Once again, this asserts widespread Once again, this asserts widespread popularity of the product popularity of the product, especially when Hảo Hảo is the most popular brand among all others Promotion • • Advertising Advertising On television: various TV stations: On television: various TV stations: VTV, HTV, HN, VTC,… VTV, HTV, HN, VTC,… On radio programmes, newspapers, On radio programmes, newspapers, magazines and supermarket flyers magazines and supermarket flyers Big celebrities starring in Ads: diva Recently, celebrities (artist Hoài singer Mỹ Linh, supermodel Ngọc Linh, singer Tóc Tiên) have been Trinh, supermodel Phạm Hương, invited to take part in commercial singer Bích Phương, MC Phan Anh, Outdoor advertising: billboards, taxis, … buses and bus stations Outdoor advertising: billboards • • Sales promotions: contests (scratching cards to win the jackpot Sales promotions: Special packs: buy get 10 (buy box and get 10 packs free), buy 10 get (buy 10 packs and get a bowl) Usually, the prize is a motorbike or an electrical device) • Direct marketing: contact customers to introduce new products, Price packs: buy 10 packs and get a new promotions discount, buy a box of 30 packs and • get a discount Online marketing: online shopping and supermarket websites, • Direct customers marketing: to introduce contact new products, new promotions • Online marketing: on company’s website, on social media (Facebook), on video channels (Youtube, movie websites) online • Public relations: charity events shopping and supermarket websites, in rural areas on company’s website, on social Vina Acecook also does not have a media creative and unique marketing (Facebook), on movie channels (Youtube, movie websites) strategy but the way that it combines different strategies at the same time • Public relations: charity helps its grow much faster with less events in rural areas, Omachi Instant effort and save time Nevertheless, Noodles as a present for U23 jackpot is a concentrated effort to Vietnam Team participating in SEA draw low-end market’s attention Games Nobody would refuse to pay Masan does not have a creative 3600VND a get a chance to win a unique marketing strategy but the motorbike for free way that it combines different strategies at the same time is very intensive, helps its grow much faster with less effort and save time What is more, it is very smart of the company to use big celebrities starring in the commercials – attracts high-end market which cares and updates about showbiz frequently People Masan Vina Acecook applies usual way of Young Entrepreneur Contest for the recruiting HR department announces wanna-be This contest consists of recruitment on company’s website rounds: recruitment, aptitude test, and initial interview, group discussion departments of Masan Consumer use and final interview If employee does this way to recruit, so this is not only not participate in the contest, he still appropriate for Marketing Department has but also for all other Masan a Consumer chance Management runs to become Trainee a All departments of Masan Consumer on online job boards All use this way to recruit, so this is not only appropriate for Marketing Department but also for all others (Sales, Finance, HR, Legal, R&D, Supply Chain and Manufacturing) Marketing employees particularly are required to have good communication and English skills Having such a close and detailed way of recruiting maximises especially and staff when training, performance, it comes to contacting customers – a mission of Marketing department Masan was in top 100 best working environment in Vietnam in 2016 (Alphabe, Nielsen) Company esteems entrepreneurship, flexibility and Physical initiative of the staff On all packaging of Instant Noodles, All packaging of Hảo Hảo Instant evidence above the word “Omachi” is “Potato Noodles have bright colour (yellow, Noodles” (“Mì khoai tây”) – simply red, green, blue, violet, pink) shows outstanding Majority of packaging is a huge bowl point in contrast to other instant of Insant Noodles full of topping noodles drawn on it, which makes consumers Shiny bright packaging of Omachi feel the deliciousness of Hảo Hảo Instant noodles right away off Omachi’s Noodles is designed in completely luxurious style, which makes consumers immediately feel the deliciousness of the Omachi’s style of cuisine On the packaging of Omachi Special Bò Hầm Sốt Vang, the pack of beef is drawn in a large size with “100% Real Meat” written on it to attract Process customers and get their trust Masan Food establish a distributor Vina Acecook establish a distributor system of over 100 distribution system agents (owned by Masan company) agents (owned by Masan company) throughout Vietnam, each region has throughout Vietnam, each region has a Business Office in Hanoi, Da a Business Office in Hanoi, Da Nang, Nang, Can Tho and Ho Chi Minh Can Tho and Ho Chi Minh City) Hảo City) Omachi has various types of Hảo Instant Noodles have various processing, however, types wholesalers of of over 600 processing, distribution however, are majority Omachi approaches wholesalers are majority Hảo Hảo many wholesalers, then the mission approaches many wholesalers, then of wholesalers is selling to the the mission of wholesalers is selling retailers such as convenient stores, to the retailers such as convenient glocery supermarkets stores, glocery stores, supermarkets Finally, retail stores deliver product Finally, retail stores deliver product to to the customers the customers stores, Producer Wholesaler Retailer Consumer Producer Wholesaler Retailer Consumer ACHIEVING OVERALL BUSINESS OBJECTIVE BY MARKETING STRATEGY In the long run, goal of Omachi Instant Noodles is providing Vietnamese people with a convenient but tasty, fully nutritious and highly enjoyable meal With the success of Omachi Instant Noodles, Masan has established its position in the Vietnamese instant noodles market Market share of Omachi has been increasing dramatically Thanks to the creative Marketing Mix strategy, Masan Consumer has brought Omachi to a new level - appearing increasingly in the lives of consumers from urban to rural "Simply Different", for the first time in Vietnam, instant noodles are made with ingredients from the potato being merchandised With the message "Delicious and Not Afraid of Heat", Omachi has gradually eliminated the anxiety in the psychology of consumers when eating instant noodles Moreover, the company has launched new models, especially Omachi Special Bò Hầm Sốt Vang - to meet the increasingly diverse needs of consumers and gradually reach the ambition to bring products to five continents Masan Consumer has succeeded in directing and deciding to market the Omachi Instant Noodles made of potato as company’s lasting competitive tool At a price that is not low but perfectly suited to the characteristics, product quality, as well as the target customers, pricing strategy helped the company enter revenue generating market, make customers become consumers who not hesitate about buying a product Masan makes sure Omachi is provided for the consumption timely Products are available mostly in supermarkets, glocery stores and convenient stores at local markets Promotional strategies bring most of the product information to consumers and have achieved media goals COMPANY OVERVIEW I Instant Noodle market Before creating Omachi Vifon is one of Vietnam's first instant noodle factories before 1975 After 1975, the leading brands in the field of instant noodles include Vifon, Miliket, Colusa, which are factories Stateowned instant noodles and so familiar to consumers from urban to rural areas during the food and subsidy years of the subsidy period The market has begun to boom and a strong product development trend in the field of visual marketing has emerged as a joint venture between Vifon and a Japanese business in 1993, Vifon Acecook and develop in Vietnam market After creating Omachi In 2007, the three main brands are Hao Hao, Hao 100 and Red Bear, with more than 50% of the sector's media budget and dense market coverage plus a myriad of unregistered products It is unwise for any new player to join II History of Establishment and Development • In 2003, Masan Trading Joint Stock Company was established on the basis of the merger of Viet Tien Industry Technology - Trading Joint Stock Company and Minh Viet Tien Import - Export Industry Joint Stock Company • November 2004 Established Masan Marine Joint Stock Company (MSC) with initial chartered capital of VND 3,200,000,000 • Masan Group registered the procedure of a public company and officially became a public company on October 16, 2009 Identify and evaluate business and investment opportunities in areas benefiting from consumer and domestic distribution Increase capital to finance current business and new investments Operate subsidiaries and associates, and advise on strategic development plans • Since March 10, 2011, Masan Food has changed its name in Vietnam: Company Name in Vietnamese: Masan Consumer Corporation (Masan) Company name written in English: Masan Consumer Corporation Abbreviated company name: Masan Consumer Corp “Together, we gather the aspirations and talents of Vietnam to create a powerful business power Together, we will build a happy future for everyone.” (Chairman of Masan Group) III Vision & Mission Vision: Recognized as Asia's leading, most successful consumer goods company by 2020 It is measured by two factors: - The most effective competition - Speed of development, innovation, creativity Mission: - Constantly creating breakthrough value and as every day we improve the material and spiritual life of consumers - Convert each line item The mission is based on elements  Focus on consumers  Constant innovation  Nothing is impossible  Spirit of victory CURRENT MARKETING SITUATION The SWOT analysis model is a very useful tool for capturing and decision making in any situation for any business organization Short for the four words Strengths, Weaknesses, Opportunities and Threats, SWOT provides a strategic analysis, review and positioning tool of a company or of a business project SWOT is suitable for work and group analysis, used in business planning, strategy building, competitor assessment, marketing, product development and services - The S-O strategy pursues opportunities consistent with company strengths, - The W-O strategy seeks to overcome weaknesses to pursue and seize opportunities, The S-T strategy identifies ways in which the company can use its strengths to reduce the risk of external damage, - The W-T strategy is to form a defensive plan to prevent the company's own vulnerabilities from becoming vulnerable to external threats STRENGTH - Omachi brand is a strong brand in the WEAKNESS - Ingredients of potatoes in a packet of 75g market of Vietnamese instant noodles with noodles new consumers to trust the slogan "very good technology of Japan (processing is not enough to persuade noodles from potato), especially has left the without fear of heat" mark - Many types of noodles, but only some are in consumers the with hearts of Vietnamese the message " delicious without fear of heat " very delicious and cause confusion and difficulty selection - Large distribution and distribution system: - High cost due to unreasonable costs of Currently, Omachi products are distributed advertising with the Chinsu system Currently, Omachi products account for about 15.1% (end 2010) of the national market share The distribution network of Omachi products has strong sales points covering 64/64 provinces and cities - Masan Company has a diversified charter capital of over VND 1,300,000,000,000 (one thousand three hundred billion dongs) OPPORTUNITIES The market for noodles is growing: It is THREATS At present, the exchange rate between forecasted that in the future, the demand for VND and other currencies tends to increase instant noodles will increase due to market along with inflation leading to high price of expansion and customers by producing raw materials This is a big risk for the more low-end instant noodles at cheaper company prices while maintaining quality Makes Currently, the Vietnam noodles market is Omachi become a brand of instant noodles facing fierce competition among large and suitable for everyone, all levels standard of long-established companies such as Vina living Acecook, Asia Food, Vifon, Uni-President, - Masan Corporation is a reputable joint Masan, Miliket are occupying more than stock company that has the ability to 80% of market share with Hundreds of mobilize more capital in the financial different brands That is not to say, dozens market of foreign brands are present everywhere, - Vietnam has joined the WTO so the ability creating abundant market packaging in both to develop Omachi to the world is now packaging, design and price much more convenient than before - Masan Joint - Currently, the government has a policy of multinational company, so it will work in Stock Company is a limiting imports to keep foreign currencies, many areas so the financial allocation to the thus reducing the competition of foreign company may face many problems when products one sector of the company is difficult And this can also affect the competitiveness of MARKETING OBJECTIVES the product "Converging and nurturing our aspirations & talents to find breakthroughs to enhance the benefits of our products and services to our customers, therefore, customers will reward us with sales, head and sustainable growth.” - Producing more noodles that are more affordable, suitable for all customers - Minimize the cost of advertising is not necessary as nowadays Omachi has a certain place in the industry of instant noodles SEGMENTATION, TARGETING AND POSITIONING (STP) I Segmentation The segmentation step is a brainstorming activity that analyzes and lists all the potential market segments that a company can target in its marketing campaign Typically, each company will target only one segment of the market, while the other will focus on different segments of the market In Viet Nam, the market for instant noodles is extensive and highly competitive Normally, instant noodles target low-end and mid-range segments The objects of the suppliers are pupils, students, office workers, etc (especially at the hot-pot restaurants) with huge number of consumers For the same products as instant noodles, people tend to choose lower priced products For food shop operators, they often enter the same quality but lower prices to increase their profits For ordinary consumers, especially low-income people and students (2018, the number of students and students in Vietnam is up to 23.5 million [Thanh Xuân,Đdc Trung (2018)]) - those who consume a lot of instant noodles, they will often be interested in low-cost products to save money At present, with the development of Vietnam economy, consumers are more interested in high-end products with high prices (such as instant noodles imported from Korea) However, low-priced instant noodles are still a big market segment, which suppliers in Viet Nam still aim at first and developing sustainably before they entering the market of high-end instant noodles In summary, the price of products is what Vietnamese consumers will pay attention to first in the market of instant noodles II Targeting As the next step, after identifying the resources of the business and segmentation, the enterprise will select the target market segment Targeting the segment will have to go through the steps of assessing the potential of the market and selecting one or more market segments to participate in Businesses need to choose the appropriate segmentation to come up with appropriate marketing strategies In the old marketing strategy, Omachi is targeting the mid-range and high-end instant noodles segment with prices ranging from 6,500 VND to 13,000 VND In this new strategy, in order to have more customers, Omachi needs to join the low-cost instant noodle market, and develop more sustainably and extensively the middle and high end instant noodles For the cheap instant noodles market, Omachi needs to invest in more products Unlike Hao Hao, Omachi has only one product in this segment (Omachi chua cay) and is not being developed by the manufacturer Omachi needs to invest in many products in this segment to target low income people, pupils and students, food shop, etc Not only that, the cheap segment will make the Omachi brand wider and closer to everyone (just like Hao Hao has popularized their brand) Along with low-cost penetration, Omachi still needs to develop and expand its market for middle and high-end instant noodles Currently, this is a segment of the market that Omachi thrives In the new marketing campaign, in order to expand customers for this segment, Omachi can be divided into two directions First of all, Omachi needs to bring its midrange products closer to consumers in the low-price instant noodles segment With the variety of noodles flavors, marketing measures such as lowering prices, creating promotion (eg buying Omachi noodles to win prizes) – which Omachi almost never did, Omachi can attract a large number of consumers from the low-price segment In addition, high-end instant noodles should also be developed by Omachi As the income of Vietnamese people grows, they will be more interested in higher-end products Currently, the market of instant noodles Vietnam has appeared high quality products imported from Korea and Japan with prices from 18,000 VND to nearly 40,000VND Omachi needs to create high quality products along with reasonable prices to compete with competitors from abroad and attract customers in this segment III Positioning Once enterprise has chosen the market segment and decided to enter it, they need to use unique marketing strategies, introduce a different way of branding your business in the minds of customers It calls “Positioning” in Marketing In Vietnam, Omachi is the second noodle brand, behind Hao Hao Due to the lack of rich promotional strategies such as Hao Hao (eg charity for disadvantaged people) or promotion campaigns for consumers Not only that, Omachi's ads have not approached the consumer yet and have difficulty in becoming the number one brand of consumers But with foreign brands, Omachi has the advantage of being close to the consumer and has a price advantage Omachi has certain advantages and disadvantages in terms of its popularity And to develop its brand, Omachi needs unique marketing steps to develop its strengths while also covering its weaknesses TACTICS AND ACTION I Issue For Omachi noodles, the company has done very well in promoting the image and product to the market and left in the minds of consumers about their products Obviously, strategic planning and detailed calculations helped Omachi choose the right target Omachi has a synchronized and synchronized deployment plan, from time-to-market options, enterpriseclass synchronization, and timely and consistent delivery of voice and communication channels well suited The marketing message of the product reaches consumer expectations and is expressed in a clear, simple language The company's brand is an advantage when it comes to exploiting it appropriately However, the promotion has many issues that need to be addressed and addressed Omachi's unique product is aimed at high- and middle-income consumers, but Omachi forgot that much of the Vietnamese income is low, sometimes below 70% on average They should expand the market and should have incentives as well as introduce their products to other customers High income can not make the company grow fast In addition, the company hired advertisers to spend a lot of money Hiring celebrities will not necessarily make their products sell well Too much money on investing to hire celebrities II Solution The point is that they should expand their business as well as invite celebrities to save costs and show Vietnamese consumers the attraction and taste of Omachi Reducing the price of the item will increase the user's attention with the Omachi product and the discounting of the product will increase the merchant's likelihood Additionally, cutting budgets for advertising will compensate for the Product discounts Price changes will inevitably affect buyers, competitors, distributors and may also make the authorities concerned For buyers, depending on the perception of each person have different reactions as buying more to avoid price increases or switch to buy other products More importantly, advertising has to be cost-effective, so there are promotional products and promotions that focus on students, students, and workers ALLOCATION OF RESOURCES Tên Chi phí Diễn viên Thành viên nhóm => 0đ Camera man 200K Bối cảnh Nhà thành viên nhóm =>0đ Mì omachi gói => 21k Thịt lạng => 30k Vật dụng khác Dùng nhà => 0đ EVALUATING AND MONITORING MARKETING PLANS To evaluate the success of a marketing plan, there are many ways and means to express that To be sure, we can a few small surveys to get information from our customers, watch them feedback and study more about the whole plan In addition, information from customers is very important, customers are direct users of the product as well as the profitability and viability of the product We can use some simple methods such as using social networks to create small surveys, using Survey Monkey website or more specifically, open some meetings in some crowded neighbourhood to see how they feel and feel about their products As for the small survey, we can insert ads into the ads on Youtube and some hot sites today Our goal now is to target students, so we should go to schools to collect surveys on paper or online with reputable websites so that we can easily get customers’ information CONCLUSION REFERENCE LIST ...INTRODUCTION MARKETING MIX 7PS OMACHI VS HẢO HẢO INSTANT NOODLES Competitor of Omachi Instant Noodles are Hảo Hảo Instant Noodles – belong to Vina Acecook Company which currently is number one Instant Noodles. .. Vietnam holding 51.5% of Instant Noodles market share in Vietnam (VNlogic, 2017) 7Ps Omachi Hảo Hảo Product Omachi is well-known to be the first Hảo Hảo is well-known to be the instant noodle product... Consumer Producer Wholesaler Retailer Consumer ACHIEVING OVERALL BUSINESS OBJECTIVE BY MARKETING STRATEGY In the long run, goal of Omachi Instant Noodles is providing Vietnamese people with a