MAKETING MANAGEMENT SUBJECT NAME MARKETING PLAN FOR NEW PRODUCT MAROU LOTUS CHOCOLATE 70%

THE FINANCIAL UNIVERSITY OF FINANCE – MARKETING FACULTY OF MARKETING Student implementation: Ung Thi My Duyen: 2021008423 Hoang Thu Ha: 2021008431 Le Dinh Cat My: 2021008476 Pham Thi Huynh Na: 2021008481 Nguyen Mai Bao Vy: 2021008595 Class: CLC – 20DMA08 MAKETING MANAGEMENT SUBJECT NAME: MARKETING PLAN FOR NEW PRODUCT MAROU LOTUS CHOCOLATE 70% Majors: MARKETING Major: MAKETING MANAGEMENT Ho Chi Minh city, 2021 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat THE FINANCIAL UNIVERSITY OF FINANCE – MARKETING FACULTY OF MARKETING MAKETING MANAGEMENT SUBJECT NAME: MARKETING PLAN FOR NEW PRODUCT MAROU LOTUS CHOCOLATE 70% Majors: MARKETING Major: MAKETING MANAGEMENT Teacher guidelines: M.Sc Dang Huynh Phuong Student implementation: Ung Thi My Duyen: 2021008423 Hoang Thu Ha: 2021008431 Le Dinh Cat My: 2021008476 Pham Thi Huynh Na: 2021008481 Nguyen Mai Bao Vy: 2021008595 Class: CLC – 20DMA08GUIDELINES: Ho Chi Minh city, 2021 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat TEACHER'S COMMENTS TIEU LUAN MOI download : skknchat123@gmail.com moi nhat CỘNG HÒA XÃ HỘI CHỦ NGHĨA VIỆT NAM Độc Lập – Tự Do – Hạnh Phúc BIÊN BẢN HỌP ĐÁNH GIÁ MỨC ĐỘ HỒN THÀNH CƠNG VIỆC NHÓM: Thời gian: 18h ngày tháng 11 năm 2021 Hình thức: Họp online qua Microsoft Teams Thành viên có mặt: Đầy đủ Thành viên vắng mặt/ Lý do: Khơng có thành viên vắng mặt Chủ trì họp: Hồng Thu Hà Thư ký họp: Ung Thị Mỹ Duyên Kết đánh giá thống tổng hợp sau: STT TIEU LUAN MOI download : skknchat123@gmail.com moi nhat TIEU LUAN MOI download : skknchat123@gmail.com moi nhat MAKETING MANAGEMENT LOTUS CHOCOLATE 70% TABLE OF CONTENTS I EXECUTIVE SUMMARY II INTRODUCE COMPANY'S OVERALL MAROU OVERVIEW MISSIONS III SITUATION ANALYSIS 1.MARKET SUMMARY 1.1 MARKET DEMOGRAPHICS 1.2 MARKET NEEDS 1.3 MARKET TRENDS 1.4 MARKET GROWTH SWOT ANALYSIS COMPETITION PRODUCT OFFERING IV MAKETING STRATEGY 1.MARKETING OBJECTIVES FINANCIAL OBJECTIVES TARGET MARKET POSITIONING STRATEGY - 4Ps 5.1 PRODUCT STRATEGY 11 5.2 PRICE STRATEGY 12 5.2.1 PRODUCT PRICING GOALS 12 5.2.2 THE RELATIONSHIP BETWEEN PRICE AND COMPETITOR'S PROSUCT 12 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat MAKETING MANAGEMENT LOTUS CHOCOLATE 70% TABLE OF CONTENTS 5.2.3 MAJOR PRICING STRATEGY 13 5.2.4 PRICE ADJUSTMENT STRATEGY 13 5.3 DISTRIBUTION STRATEGY 14 5.3.1 DISTRIBUTION STRATEGY 14 5.3.2 CHANNEL DESIGN DECISION 15 5.4 PROMOTION STRATEGY 15 5.4.1 ADVERTISING 15 5.4.1.1 GOALS 15 5.4.1.2 ADVERTISING MESSAGE 15 5.4.2 PUBLIC RELATION 16 5.4.2.1 PRESS AND MEDIA 16 5.4.2.2 CHARITABLE DONATION 16 5.4.3 DIRECT MARKETING 16 5.4.3.1 WEBSITE 16 5.4.3.2 E-COMMERCE 16 5.4.4 SALES PROMOTION 16 5.4.4.1 MINIGAME ON SOCIAL MEDIA 16 5.4.4.2 ACTIVATION BOOTH 17 5.4.4.3 CHOCOLATE EXHIBITION 17 V ACTION PLAN 19 VI CONTROLS 20 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat MAKETING MANAGEMENT LOTUS CHOCOLATE 70% I EXECUTIVE SUMMARY Voted the best chocolate in the world by The Newyork Times in 2016, the Marou brand has quickly shaken the international chocolate market However, in the Vietnamese market, the name Marou is still new and strange to consumers Through our research, it seems that the general public does not fully grasp what the organizations stand for/ due to a lack of marketing campaigns Moreover, in the context of the Covid 19 epidemic, the country's economy is being affected and many retail industries suffered a heavy drop in revenue No one feels this more strongly than a small business like Marou The local bean-to-bar industry is at crossroads as the biggest craft chocolate companies encounter hardship, tourism is at a standstill and small businesses struggle with lower demand In this research paper, we are going to launch a new product called Marou Lotus Seed chocolate bar with the aim to maintain the business in the pandemic, increase customer's brand awareness for Marou, and create strong momentum for the brand to bounce back as the economy recovers II INTRODUCE COMPANY'S OVERALL MAROU OVERVIEW Marou Faiseurs de Chocolat is an artisan chocolate manufacturer that produces "bean-to-bar" chocolate in Vietnam, founded by Vincent Mourou and Samuel Maruta in 2011 The current headquarters of Marou Faiseurs de Chocolate is located at 120/4 Street 13, Binh Chieu, Thu Duc District, Ho Chi Minh City Founded in 2010, Marou Faiseurs de chocolat started exporting its first products in 2012 In the years from 2016 to 2020, they have expanded their store size to include locations in TPHCM (District and District 2) and a store in Hanoi Besides chocolate bars, Marou Faiseurs de Chocolat also offers customers chocolate tasting classes hosted by chocolate experts and a wide variety of French-style cakes and drinks whose main ingredient is cacao powder at its café and retail shops-Maison Marou Saigon, Maison Marou Thao Dien, and Maison Marou Hanoi PAGE TIEU LUAN MOI download : skknchat123@gmail.com moi nhat GROUP MITUBACANA MAROU LOTUS CHOCOLATE 70% MISSIONS Marou’s mission is to make world-class chocolate using Vietnamese cacao From the start, they have been committed to strong relationships, quality standards, and sustainability Marou Chocolate sees promoting sustainability as part of its central mission and strategy This takes time and energy, but they believe that leadership in business and sustainability go hand-in-hand In addition, Marou also has a mission to help Vietnamese cocoa farmers have stable jobs and long-term development III SITUATION ANALYSIS 1.MARKET SUMMARY 1.1 MARKET DEMOGRAPHICS Marou's first target customers consist of a limited number of foreigners living in Vietnam According to an interview with Nikkei " Vietnamese like chocolate, but they really see it as a flavoring, like on a cake or a Choco Pie'', stated the cofounder of Marou, therefore, with the goal of changing the perception of Vietnamese people about how to enjoy chocolate, in recent years Marou has expanded its market share in the Vietnamese market Moreover, Mekong Capital invested in the Marou chocolate brand at the end of March 2021 The unknown amount of funding will be used to assist Marou in reaching a new set of users: local customers Geographics According to the latest survey results from market research firm Kantar Worldpanel, chocolate was a commodity with a double growth in consumption volume in the first six months of 2014 in the Vietnam market, compared to the same time in 2013 As a result, the chocolate business has gained 52,000 new customers and boosted average chocolate consumption per family by 24% In rural areas, chocolate-flavored liquids (milk, cereals, etc.) grew by 47 percent, and an additional 675,000 customers chose to buy chocolate products And also that figure has risen in recent years, particularly during the period of social isolation caused by the Covid epidemic Based on above statistics, the suburban and urban areas become one of the geographical sectors in which Marou hopes to increase its market share in the domestic market PAGE TIEU LUAN MOI download : skknchat123@gmail.com moi nhat GROUP MITUBACANA MAROU LOTUS CHOCOLATE 70% Demographics Marou serves chocolate-loving clients aged 18 to 65 Marou's target audiences include people with steady incomes, generation Z, and foreign tourists All of this will be more clearly displayed in the table below DEMOGRAPHICS Nationality Age Gender Income Occupation Education College/University Behavior Factors Benefit sought - Customers who are regular consumers find in Marou’s chocolate some of the following benefits: delicious snack, energy booster, health protection, Some foreign tourists buy Marou products as souvenirs Furthermore, every Marou’s product, from design to packaging, is ideal as a gift for Tet, Christmas, or Valentine's Day - Customers who are companies (restaurants, luxury hotels, cafes, bakeries) consider Marou’s products as a material for the production of a range of sweets or dishes in order to serve their consumers College/University Varies Media habit They usually use Google and social media ( Instagram, Facebook… ) to get information or read e-newspaper on website like VnExpress, Vietcetera, Vietnamnet, GROUP MITUBACANA MAROU LOTUS CHOCOLATE 70% 5.2.3 MAJOR PRICING STRATEGY: VALUED-BASED PRICING When Vietnam opened up to the rest of the globe in the 1990s, the Vietnamese chocolate market was just getting started Vietnamese people's chocolate taste has not yet been set because they have not had the habit of consuming chocolate on a regular basis Most Vietnamese people consider chocolate to be a delightful gift for special occasions such as Christmas, New Year's, Valentine's Day, and so on However, with the advancement of technology, there are now a large number of consumers Consumers are becoming more aware of the health advantages of chocolate and are becoming more interested in this delicious gift Since then, more domestic chocolate brands have risen Therefore, in order to meet the growing demand for chocolate among Vietnamese consumers, we suggest the valued-based pricing The price of the product will be based on the value that the customer perceives through our product We give a price that meets all requirements based on an analysis of the average income of three target clients ( businessmen & business women, generation Z, tourists ), rivals, and the pricing of similar line products OFFICIAL PRICE: 120.000 VND for the 80 gram bar / 60.000 VND for the 24 gram bar Break-Even Analysis Monthly Units Break-Even Monthly Sales Break-Even Assumptions: Average Per-Unit Revenue Average Per-Unit Variable Cost Estimated Monthly Fixed Cost 5.2.4 PRICE ADJUSTMENT STRATEGY Market - Skimming Pricing Strategy At the time the product has just hit the market, we will set a highest price to optimize the profit from the customer willing to spend money for the product (Specifically 120.000 VND) Although the number of sales may be small, the profits are quite large In addition, the initial high pricing does not attract new competitors rapidly As a result, profits are quickly achieved at the previously set level Promotional Pricing Tactics In February 2022, we will set a special price for consumers and businesses that have a partnership agreement to encourage them to promote sales Those who buy chocolate during this particular period will receive a discount if they purchase in big amounts, as well as a membership card and numerous benefits for their next shopping PAGE 13 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat GROUP MITUBACANA MAROU LOTUS CHOCOLATE 70% 5.3 DISTRIBUTION STRATEGY 5.3.1 DISTRIBUTION STRATEGY: SELECTIVE STRATEGY Marou's concept is aimed in the high-end segment, and the price is relatively high in comparison to the common ground, so we can only distribute products at certain points of sale such as F & B service chains, restaurants, hotels, online forums, etc The new distribution partners with whom Marou is collaborating in this campaign are listed below MAIN DISTRIBUTORS Airport Lounge Pizza 4P’s An Nam Gourmet Amanoi PAGE 14 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat GROUP MITUBACANA MAROU LOTUS CHOCOLATE 70% 5.3.2 CHANNEL DESIGN DECISION Using both Traditional channel and Modern channel to distribute Lotus Chocolate 5.4 PROMOTION STRATEGY 5.4.1 ADVERTISING: CLIP ON SOCIAL MEDIA 5.4.1.1 GOALS 5.4.1.2 ADVERTISING MESSAGE Marou's promotion is aimed at customers aged 18 to 35 who have a strong interest and love for chocolate This ads is focused on promoting a new classic flavor Tet is a time when everyone in the family gets - Lotus Chocolate for Tet holiday & Valentine always feel lonely and unloved Marou takes the seasons through the campaign from January to April with the core message: Marou be your Soulmate Our target is to achieve 500k views on YouTube and 5k Facebook reactions role of a soulmate, accompanying them on their together However, there are still some expats who are unable to return to their homes and will special holiday, despite a lack of laughter but happy all the time Moreover, we wish to be by your side through Valentine seasons With Marou’s chocolate, you will never be alone PAGE 15 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat GROUP MITUBACANA MAROU LOTUS CHOCOLATE 70% 5.4.2 PUBLIC RELATION 5.4.2.1 PRESS AND MEDIA 5.4.2.2 CHARITABLE DONATION Creating content about quality, values of bean-tobar chocolate, brand future vision and journey to new product on Vietcetera pages Besides, sharing some Marou chocolate dessert recipes that housewives can try at home with the participation of masterchef Luke Nguyen Deduct 10% of profits to contribute to the Vietnam vaccination fund in the hope of participating on disease prevention 5.4.3 DIRECT MARKETING 5.4.3.1 WEBSITE Use Visual design tool to establish uniformity, specialization, and professional for new products on Maison Marou and Marou Chocolate website 5.4.3.2 E-COMMERCE Many firms now use the e-commerce platform as a potential communication channel We are confident that the promotion plan will be expanded if we acquire assistance and investment collaboration Increasing advertising on e-commerce channels such as Shopee, Lazada, etc 5.4.4 SALES PROMOTION 5.4.4.1 MINIGAME ON SOCIAL MEDIA (FACEBOOK): 03/01/2022 - 11/01/2022 OBJECTIVES Awareness Acceptance Action PAGE 16 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat GROUP MITUBACANA MAROU LOTUS CHOCOLATE 70% Topic: Moment with Marou Hashtag: #MomentwithMarou #Maroubewithyou #LotusChocolate #beantobarchocolate Activities: All participants are required to take photos with their loved ones with Marou's chocolate Then, using the hashtag, share the photo publicly on their personal Facebook profile Marou will send a special gift to the post with the most interactions 5.4.4.2 ACTIVATION BOOTH With the objective to raise brand awareness and better understand customer needs We propose to open many product display booths in large shopping centers such as Vincom Center and Aeon Mall with many activities such as trying new product lines and games to attract both target and potential customers coming to join and experience The plan to launch from March 15, 2022 to June 30, 2022, the activation booths aims to warm up marketing activities for Marou products after previous campaigns This is also the period when the process of deploying, advertising and selling products gradually stabilizes 5.4.4.3 CHOCOLATE EXHIBITION - Time: 12/01/2022 - 18/01/2022 - Location: White Palace [ 108 Pham Van Dong street, Hiep Binh Chanh ward, Thu Duc, Ho Chi Minh city ] - Ambassadors: Tang Thanh Ha & Khoai Lang Thang PAGE 17 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat GROUP MITUBACANA MAROU LOTUS CHOCOLATE 70% Name Tăng Thanh Hà Khoai Lang Thang Content - Tagline: Got Marou, got true chocolate - Message: Increasing consumer awareness of Marou chocolate in Vietnam Honoring the manufacture of handcrafted chocolate, as well as initiatives to extend the market for cocoa trees, so improving farmers' incomes This exhibition provides an opportunity to collaborate with restaurants, hotels, and resorts that share Marou's aim in terms of development Customers will also have the opportunity to sample and completely experience the process of creating the famous Marou chocolate bars, which are known for their high quality and unique flavor - Describe: The exhibition will be divided into two sections: classic and new products The Lotus Chocolate will be displayed in the second section with banners to attract visitor’s attention In addition, visitors can not only try the new chocolate flavor, but also attend the hand-packing of chocolate We believe that with this strategy, Marou will meet its objectives and increase its market share in future PAGE 18 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat GROUP MITUBACANA MAROU LOTUS CHOCOLATE 70% V ACTION PLAN Action & Comments PHASE 1: PREPARE Create a campaign for new product Choose and complete the packaging design and color for new Marou Chocolate product Complete website for product demonstration Announcement of the upcoming launch of a new product of Marou Sending chocolate bars to dynamic KOLs to combine promotion for new product PHASE 2: LAUNCHING Officially launching the new Marou products on Marou official Fanpage Promoting communication on social media with a minigame called “Moment with Marou” Event - Chocolate Exhibition Airing articles talk about products and an interview with the founder of Marou on VnExpress, Vietcetera, Run advertisement Marou be your Soulmate on Youtube and Facebook Launching activation booths in shopping malls (Aeon mall, Vincom center, ) Maintain business operations and maintain sales activities Timeline PAGE 19 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat GROUP MITUBACANA MAROU LOTUS CHOCOLATE 70% V ACTION PLAN Marketing Expense Budget Content Distribution channel (Airport Lounge, Pizza 4P’s, An Nam Gourmet, Amanoi) Website (updating and adding new product based on the available one) Advertisements (clip on social media) KOLs (Luke Nguyen, Tang Thanh Ha, Khoai lang Thang) Organizing minigame Events (chocolate exhibition and activation booths) Cost incurred (crisis handling, support, keeping contact with closed press and media, ) Total VI CONTROLS Implementation We're putting in place strict control procedures to keep a close eye on quality and customer service satisfaction As a result, we will be able to respond rapidly to any problems that may arise Monthly sales (by segment and channel) and monthly expenses are two warning signals that will be watched for indicators of deviation from the plan PAGE 20 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat GROUP MITUBACANA MAROU LOTUS CHOCOLATE 70% Contingency Planning Agents Budget Communication Other risks PAGE 21 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat REFERENCES Gillor, M (2021, October 13) Vietnam’s Craft Chocolate Movement Is At A Crossroads Retrieved from Vietcetera: https://vietcetera.com/en/vietnams-craft-chocolatemovement-is-at-a-crossroads Management, O (2015, September 18) From Bean to Bar: Expatriates in Vietnam Taste Sweet Success Retrieved from Knowlegde Wharton: https://knowledge.wharton.upenn.edu/article/from-bean-to-bar-expatriates-in-vietnamtaste-sweet-success/# NAM, C t (n.d.) SOCOLA THƯƠNG HIỆU VIỆT- TIỀM NĂNG VÀ THÁCH THỨC Retrieved from Chocolate Figo: https://www.chocolatefigo.com/socola-thuong-hieu-viettiem-nang-va-thach-thuc News, V N (2020, November 20) Vietnamese chocolate products have a chance to enter to global market Retrieved from Viet Nam News: https://vietnamnews.vn/economy/809004/vietnamese-chocolate-products-have-chanceto-enter-to-global-market.html Phillip Kotler, K L (2011) Marketing Management 14th Edition New Jersey: Pearson Highered Sam Maruta, V M (n.d.) Marou Faiseurs De Chocolat Retrieved from Marou Chocolate: https://marouchocolate.com/vi/ Vietnam, B (2014, February 25) The Key To Chocolate Confectionery Market In Vietnam Is Cheap Price? Retrieved from B&Company Vietnam: https://b-company.jp/chocolate-en/ Wamucii, S (n.d.) Vietnam Chocolate Market Insights Retrieved from Selina Wamucii: https://www.selinawamucii.com/insights/market/vietnam/chocolate/ TIEU LUAN MOI download : skknchat123@gmail.com moi nhat WORDS COUNT: 5543 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat ... UNIVERSITY OF FINANCE – MARKETING FACULTY OF MARKETING MAKETING MANAGEMENT SUBJECT NAME: MARKETING PLAN FOR NEW PRODUCT MAROU LOTUS CHOCOLATE 70% Majors: MARKETING Major: MAKETING MANAGEMENT Teacher... MITUBACANA MAROU LOTUS CHOCOLATE 70% V ACTION PLAN Action & Comments PHASE 1: PREPARE Create a campaign for new product Choose and complete the packaging design and color for new Marou Chocolate product. .. skknchat123@gmail.com moi nhat GROUP MITUBACANA MAROU LOTUS CHOCOLATE 70% Topic: Moment with Marou Hashtag: #MomentwithMarou #Maroubewithyou #LotusChocolate #beantobarchocolate Activities: All participants