CREATING a MARKETING PLAN FOR HNK’S NEW PRODUCT – CHELSEA BOOT IN THE PERIOD 122021 – 122022

THE FINANCIAL UNIVERSITY OF FINANCE - MARKETING Class: CLC_20DMA09 CREATING A MARKETING PLAN FOR HNK’S NEW PRODUCT – CHELSEA BOOT IN THE PERIOD 12/2021 – 12/2022 Majors: MARKETING Specialized: MARKETING MANAGEMENT Ho Chi Minh city, 2021 TIEU LUAN MOI download : skknchat123@gmail.com THE FINANCIAL UNIVERSITY OF FINANCE - MARKETING Class: CLC_20DMA09 CREATING A MARKETING PLAN FOR HNK’S NEW PRODUCT – CHELSEA BOOT IN THE PERIOD 12/2021 – 12/2022 Majors: MARKETING Specialized: MARKETING MANAGEMENT Instructors: Master Đặng Huỳnh Phương Student Implementation: Name Trương Quốc King Nguyễn Hoài Nam Trần Hữu Huy Huỳnh Trọng Nghĩa Nguyễn Phúc Bảo Khang Ho Chi Minh city, 2021 TIEU LUAN MOI download : skknchat123@gmail.com TEACHER’S COMMENTS Student Implementation: Name Trương Quốc King Nguyễn Hoài Nam Trần Hữu Huy Huỳnh Trọng Nghĩa Nguyễn Phúc Bảo Khang (This part is for teachers to directly guide and comment on students) Score in numbers Teacher signature (Score in numbers) (Teacher signature) MAJORS MARKETING MASTER ĐẶNG HUỲNH PHƯƠNG TIEU LUAN MOI download : skknchat123@gmail.com EXECUTIVE SUMMARY CHAPTER 1: HNK COMPANY OVER VIEW 1.1 INTRODUCTION Vision Core values Mission Business philosophy 1.1.1 1.1.2 1.1.3 1.1.4 1.2 STRATEGIC OBJECTIVES 1.2.1 Marketing Objectives 1.2.2 Brand Objectives 1.2.3 Financial Objectives CHAPTER 2: SWOT & MACRO – ENVIROMENT ANALYSIS 2.1 SWOT OF COMPANY 2.2 THE SITUATION OF LEATHER SHOES MARKET IN VIETNAM 2.2.1 Size and growth rate of Vietnam's leather shoes market 2.2.2 Trends of Vietnam's leather shoes market 2.2.3 Competition in the Vietnamese leather shoes market 2.3 SWOT OF PRODUCT 2.4 COMPETITORS 10 Direct competitors 10 Indirect competitors 10 2.4.1 2.4.2 CHAPTER 3: STP STRATERGY 11 3.1 SEGMENTATION 11 3.2 TARGETING 12 3.3 POSITIONING 12 CHAPTER 4: MARKETING MIX STRATEGIES 14 4.1 PRODUCT STRATERGY 14 4.1.1 Product mix 14 4.1.2 Product Value 15 4.1.3 Packaging 15 4.1.4 Style and Design 15 4.1.5 Product support service 16 4.2 PRICE STRATEGY 16 4.2.1 Valuation target 16 4.2.2 Pricing strategy 17 4.3 DISTRIBUTION STRATEGY 18 4.3.1 Distribution chanel 18 4.3.2 Distribution channel management 19 4.4 MARKETING COMMUNICATION STRATEGY 19 4.4.1 Advertising: Online advertising only 19 4.4.2 Public relation (PR) 20 4.4.3 Promotion 20 CHAPTER 5: ACTION PLAN 21 CHAPTER 6: FINANCE .22 TIEU LUAN MOI download : skknchat123@gmail.com CONCLUSION 24 TIEU LUAN MOI download : skknchat123@gmail.com EXECUTIVE SUMMARY HNK is a start-up company from 2021 specializing in the production of European-style leather shoes with the leading product of chelsea booths and its variations Our brand name is HNK which is inspired by our shareholders in order to partly appreciate the enthusiastic contribution from the company's shareholders (K: Khang, King – H: Huy – N: Nam, Nghia) Today, there are really few communities for Vietnamese men to express their individuality With the current trend of globalization, when cultures are imported from abroad, "beauty" is no longer only for women, men also have needs in this regard Understanding that, HNK was established to bring classic European-style thick leather shoes, creating a playground for Vietnamese men who are passionate about classic style Therefore, the topic “Creating a marketing plan for HNK's new product, Chelsea boot for the period 12/21 - 12/2022" will be discussed The structure of the thesis consists of main chapters: Chapter 1: HNK Company Overview Chapter 2: SWOT & Macro Analysis - Environment Analysis Chapter 3: STP Strategy Chapter 4: Marketing - mix Strategies Chapter 5: Action plan Chapter 6: Financial TIEU LUAN MOI download : skknchat123@gmail.com CHAPTER 1: HNK COMPANY OVER VIEW 1.1 INTRODUCTION In the era of global open trend, elegant, stylish and luxurious dress styles are increasingly popular Therefore, with the desire to bring Vietnamese people to stand shoulder to shoulder with other countries in the world, we are constantly trying to create leather boots with the best design and quality to accompany "Children of the fairy and dragon" in every way That’s the reason why HNK was established 1.1.1 Vision Towards the goal of sustainable development and becomes a leading shoe manufacturing and distribution company in the Vietnamese market Enhancing the influence of the brand with the number goal in Vietnam Not only developing strongly in the country but also promoting international integration, stepping into potential markets in Asia 1.1.2 Core values Providing quality finished leather shoes with outstanding design and elegance in classic style for Vietnamese men so they can shape their own style 1.1.3 Mission HNK always upholds the bravery of men, does not hesitate or falter in the face of difficulties and challenges HNK takes two core factors to develop products and brands: • Customers are all our friends: We not consider customers as gods, but here they are close friends We understand them, ready to share all thoughts and feelings with each other And as a friend, we will strive to bring out the best for our friend • Innovate and creative: Always ready to accept and lead change, seek to learn and not be afraid of failure, always improve, be creative in everything and create breakthroughs for the benefit of customers 1.1.4 Business philosophy Let us make you happy Get “Quality, Prestige, Service” to bring the feeling of being worth the money spent by customers We put the quality of each product first, machining and finishing to near perfection to provide the best user experience Reputation is one of the deciding factors for the brand and service that will help customers to solve any problems In addition, there are three factors that form the foundation of the corporate culture “Đổi - Nhiệt - Đồn” • “Đổi” means always innovating not only the product but also the working style, must change to adapt to the changing environment • “Nhiệt” means Enthusiasm, blood is always hot, burning wholeheartedly with everything, enhancing the youthful spirit of the whole company 40 TIEU LUAN MOI download : skknchat123@gmail.com • “Đồn” means unite There is an old saying in Vietnam that "one tree can't be young, three trees together make a high mountain" The solidarity of all members of the company is the decisive factor for its success 1.2 STRATEGIC OBJECTIVES 1.2.1 Marketing Objectives With the current capital and expertise, HNK will increase the number of target customers knowing about the product with the number of people accessing the media channels looking for information about the product reaching 20000 visits in months to enhance brand value in the mind of consumers 1.2.2 Brand Objectives Enhancing brand value for customers so that when it comes to stylish, personalized, quality and affordable leather shoes, HNK will appear in the minds of consumers Aiming to build HNK to become one of the leading leather shoe manufacturers in Vietnam within years 1.2.3 Financial Objectives • Reaching a total revenue of about 50000 USD ~ 1.1 billion VND in the first year • Maintain growth of at least 10% a year Maintaining marketing and promotion costs about 10-15% of the total cost of the business • • Increasing product purchases boosts sales and helps businesses thrive 40 TIEU LUAN MOI download : skknchat123@gmail.com To reach breakeven point at the price of million VND per pair, 375 products need to be sold Break-even volume = fixed cost / (price - variable cost) = 300,000,000/ (1,000,000 - 200,000) = 375 products Specifically, the prices of some products that HNK will aim to produce Shoes Price (VND) In the product line of HNK, although Jodhpur Shoes have the highest price, it is only 1,300,000 VND, a price that anyone can easily own Besides, the two shoe products, Chelsea Commando and Zip, priced at 1,000,000 VND There are also two popular products, Chelsea boots and Broguing Shoes, with relatively low prices for Vietnamese men to easily access and own possess 4.2.2 Pricing strategy As a new brand, HNK needs to define a pricing strategy that is to penetrate a large customer market, so that people know the brand more Although the price is relatively low 17 40 TIEU LUAN MOI download : skknchat123@gmail.com compared to the common ground, the quality of the product always ensures satisfaction of the needs of consumers With only an average price of about million VND, you can own a beautiful pair of boots with great quality In order for consumers to pay more attention to the quality of the products we provide without worrying about the price, we have proposed the following methods: • The associated organization buys used shoes to make use of usable materials and then transfers them to leather shoe factories that can be recycled in order to minimize the cost of buying new materials and protect the environment • Greater emphasis on service: Relationships between friends are built on trust A good customer care policy will make HNK more connected with its friends HNK provides shoe cleaning, shoe repair, shoe polishing, etc., depending on the type of customer care service, there will be different limits 4.3 DISTRIBUTION STRATEGY 4.3.1 Distribution chanel Using direct distribution channels: • Distribution channel structure • Distribution Channel Length: Zero Level • Type of intermediaries joining the channel: None • Distribution channel width: Modern distribution channels and traditional distribution channels Traditional distribution channel Because the business is new to the market, the problem that HNK faces is how to make the product reach customers in the easiest way The use of traditional distribution channels helps customers experience the most authentic products through resellers So HNK will build a small store, decorated with classic style for consumers to come try their own shoes Modern distribution channel With the strong development of the internet, the demand for using social networks is increasing, so it is not possible to maintain the old distribution direction forever, but it is necessary to innovate to adapt to specific markets such as selling online on the Internet e-commerce sites, social networks, websites HNK will focus on developing distribution channels in major e-commerce products such as TIki, shopee, lazada, Create a separate website for the company with outstanding, easy-to-see and easy-to-use features Images posted on e-commerce platforms need to be clear, true to reality, and have regulations on product size and size to bring products closer to consumers 18 40 TIEU LUAN MOI download : skknchat123@gmail.com 4.3.2 Distribution channel management For an enterprise, the consumption of goods is always an important issue, deciding the existence and development of the business In order to manage the distribution channels of enterprises effectively, HNK must be knowledgeable about products, target markets as well as distribution channels and grasp market changes Here are some ways to manage distribution channels for HNK: According to the traditional distribution channel • Evaluating business activities: HNK needs to regularly evaluate employees and make detailed reports to be able to understand the development and development of the business • Careful in recruiting and using people: HNK will focus on getting to know its employees and from there find out the company's strengths and weaknesses to put in the search for employees for HNK According to the modern distribution channel • Applying technology to distribution channel management: The application of software can help HNK overall manage all business activities of the company, from employee monitoring, customer’s oreder management • Process orders carefully and quickly for customers buying online: Customers today tend to make purchasing decisions quite quickly Therefore, HNK will always try to process quickly: confirm with the customer, package, send to the shipping unit These should be completed within 24 hours of receiving a new order 4.4 MARKETING COMMUNICATION STRATEGY 4.4.1 Advertising: Online advertising only Use ads on Facebook and Instagram • Use ads on facebook and instagram to let users know the brand name more • Use facebook and instagram as a conversion channel: increase clickthrough rate on fanpage and website 19 TIEU LUAN MOI download : skknchat123@gmail.com Using Tik Tok ads: Using TVC on products to increase brand awareness Time (month) Quanity Unit Note 1 Video Reach at least 50,000 views 4.4.2 Public relation (PR) Influencer • Contact two Influencers who pursue the classic style to collaborate on reviewing and promoting products • Use facebook and instagram as a conversion channel: increase click through rate on fanpage and website Create a Youtube chanel • Create videos to introduce products • Educating consumers on how to coordinate and preserve products Create a Facebook group • Create a community where vintage people can socialize • Support, interact with consumers about their feelings in the process of using the product 4.4.3 Promotion During the period: 5/2022-7/2022 • Promotion form: Every week Give away for the luckiest customers, when participating in the following steps: Subscribe to youtube channel and comment on Youtube After customers receive the gift about months, invite them to share their experiences when using the product • Purpose: To increase the consumer experience on HNK shoes Increase brand awareness • Quanity: 15 product During the period 7/2022-9/2022 • Promotion form: Organize a contest about matching on shoes of HNK HNK will be partnering with two influencers who have an understanding of the classic style and are following the trend • Purpose: Create a playground for consumers, so that they know HNK as a community rather than a relationship between a seller and a buyer • Quanity: o First prize: 10 million cash pair of shoes of HNK year shoe cleaning service o Second prize: pair of shoes from HNK year shoe cleaning service o Third prize: year shoe cleaning service 20 40 TIEU LUAN MOI download : skknchat123@gmail.com CHAPTER 5: ACTION PLAN Category Time Create Fanpage Facebook, Instagram & Website Post in Facebook, Instagram & Website Run Ads in Facebook & Instagram Cooperate with Influencers Create TVC Create Tik Tok chanel Run Ads Tik Tok about TVC Run Ads Facebook & Instagram about TVC Create Youtube Chanel Create Facebook Group and Invite every one to join Run Give away Promotion Competition announcement Run Competition Awards 1/12/2021 1/12/2021 1/12/2021 18-25/01/2022 and 21-28/11/2022 1/1/2022 1/2/2022 1/2/2022 First week in months 1/3/2022 1/4 1/5/2022 1/7/2022 1/8/2022 1/9/2022 21 TIEU LUAN MOI download : skknchat123@gmail.com CHAPTER 6: FINANCE Break-even analysis • • Number of products sold by quarter to break even: 94 products Quarterly breakeven revenue: 93,750,000 (VND) Assumptions: • • • Average revenue per product: 997,000 (VND) ~ 1,000,000 (VND) Average variable cost per unit: 200,000 (VND) Estimated quarterly fixed costs: 75,000,000 (VND) Sale Forecast Dự báo doanh số bán hàng Time Sales (products) Revenue (VND) Cost (VND) As expected, sales from December 2021 to December 2022 are 500 products with total expected revenue of 500,000,000 (VND) and total cost is expected to be 400,000,000 (VND), so the expected profit in year is: 500,000,000 - 400,000,000 = 100,000,000 (VND) Cost Forecast Format TVC Website MEDIA TIEU LUAN MOI download : skknchat123@gmail.com reach customer on Facebook First week in every quarter First week in every quarter Tik Tok Promotion Young people and often review leather shoes PR Total fee 23 TIEU LUAN MOI download : skknchat123@gmail.com CONCLUSION The above pricing strategies, product strategies, distribution strategies as well as communication plans are analyzed based on the company's strengths, weaknesses, and challenges as well as that of the product With the desire to build for Vietnamese men a place to exchange and learn about classic style, HNK builds an image in consumers' minds as a friend who brings the best to consumers "Thousands of beginnings are difficult", so the start of HNK will face many difficulties in the initial steps of building its business It is extremely important to closely monitor communication and promotion activities and train dynamic staff to easily reach consumers In the following years, HNK will continue to deploy many other communication activities as well as invest more in production activities “A good marketing strategy must first have a good product” - Donald Trump, so HNK will try to invest in the production of products in the future In order to launch a new product effectively and accepted by consumers, it is required that HNK understand the market and be agile in recognizing and catching market trends If the above criteria are well implemented, perhaps HNK will achieve its vision in the future to become the number one leather shoe brand in Vietnam, as well as not only develop strongly in the country but also strengthen the association international import 24 40 TIEU LUAN MOI download : skknchat123@gmail.com REFERENCES Chapter 2: • Bộ Cơng Thương Việt Nam (2021) Sản phẩm giày dép Việt Nam tăng sức cạnh tranh nhờ ứng dụng công nghệ 4.0 Truy cập ngày 31/10/2021 tại: https://moit.gov.vn/tin-tuc/phat-trien-cong-nghiep/san-phamgiay-dep-cua-viet-nam-tang-suc-canh-tranh-nho-ung-d.html 25 40 TIEU LUAN MOI download : skknchat123@gmail.com JOB DESCRIPTION & CONTRIBUTION NO FULL NAME Trương Quốc King (Leader) JOB DISCRIPTION • Excusive Sumary • Chapter 2: SWOT of Product • Chapter 4: Pricing Strategy + Distribution + Marketing Comunication • Conclusion • • • Nguyễn Hồi Nam • • Chapter 1: Introduction Chapter 2: SWOT of Product Chapter 3: STP Stratergy Chapter 4: Pricing Strategy + Distribution + Marketing Comunication Chapter 6: Financial • Nguyền Phúc Bảo Khang Chapter 2: SWOT of Company + Market Situation • Chapter 4: Product Strategy + Distribution + Marketing Comunication • Chapter 5: Action Plan • • Huỳnh Trọng Nghĩa • • • Trần Hữu Huy • Chapter 1: Strategic Objective Chapter 3: STP Stratergy Chapter 4: Distribution + Marketing Comunication Chapter 6: Financial Chapter 2: SWOT of Company + Market Situation Chapter 4: Product Strategy + Distribution + Marketing Comunication • Chapter 5: Action Plan TOTAL 26 TIEU LUAN MOI download : skknchat123@gmail.com .. .THE FINANCIAL UNIVERSITY OF FINANCE - MARKETING Class: CLC_20DMA09 CREATING A MARKETING PLAN FOR HNK’S NEW PRODUCT – CHELSEA BOOT IN THE PERIOD 12/2021 – 12/2022 Majors: MARKETING Specialized:... thick leather shoes, creating a playground for Vietnamese men who are passionate about classic style Therefore, the topic ? ?Creating a marketing plan for HNK's new product, Chelsea boot for the period. .. in the footwear industry from abroad, which can be named as: Dr Martens; H&M; Zara; Vindi …All of them have a long-standing name, and have great purchasing power in the international market and