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Untitled 1 MINISTER OF FINANCE UNIVERSITY OF FINANCE AND MARKETING FACULTY MARKETING TOPIC PEPSI MARKETING STRATEGY IN VIETNAM Students Phạm Giáng Quỳnh Như 2021001710 Mai Thị Thu Hà 2021001672 Nguyễn.
MINISTER OF FINANCE UNIVERSITY OF FINANCE AND MARKETING FACULTY MARKETING TOPIC: PEPSI MARKETING STRATEGY IN VIETNAM Students: Phạm Giáng Quỳnh Như - 2021001710 Mai Thị Thu Hà - 2021001672 Nguyễn Chí Hiếu - 2021001524 HO CHI MINH CITY, JUNE 2021 INTRODUCTION Today's economy is developing more and more consumer demand, so businesses are constantly producing a series of products and services that surpass competitors, meet customer needs and dominate markets But for that, businesses must have the right marketing strategies As a result, businesses can bring their products closer to customers and fully convey the message or story to consumers Suntory PEPSICO Co., Ltd is the clearest evidence alone In the Vietnam market, PEPSICO has shown professional and accurate marketing activities so that most consumers can recognize PEPSICO branded products in the market The focus is on Pepsi products To affirm its position, dominating the market, PEPSICO has surpassed many major competitors to maintain its leading position in this field So why is PEPSICO successful? To answer this question, the essay "Analysis of the marketing strategy of PEPSICO Vietnam enterprises" was conducted to find out the successful marketing strategies of enterprises, besides making suggestions to help companies improve the effectiveness of marketing activities for products INDEX PART 1: BRIEFLY OF SUNTORY PEPSICO VIETNAM BEVERAGE CO.,LTD The process of formation and general development The process of formation and development in Vietnam Pepsico's goals and resources PART 2: PEPSI’S MARKETING ENVIRONMENT Macro factor Micro factors: 11 PART 3: MARKETING STP STRATEGY OF PEPSI 14 Segmentation 14 Targeting 15 Positioning 16 PART 4: MARKETING MIX STRATEGY OF PEPSI 18 Product 18 Price 20 Place 21 Promotion 22 PART 5: OFFER 30 PART 1: BRIEFLY OF SUNTORY PEPSICO VIETNAM BEVERAGE CO.,LTD The process of formation and general development -In 1886, Bradham - a pharmacist born in 1867 in Chinquapin, Duplin County, North Carolina - prepared an easy-to-digest drink from carbonated water, sugar, vanilla, and a little cooking oil It is sold in the area under the name "Brad's Drink" -By 1893, Bradham changed to a new name "Pepsi-Cola", a music player, computer, more powerful and widely available for sale -1898 Pepsi Corporation was established, headquartered in Purchase city, New York State, USA -1902 - Pepsi-Cola trademark is registered The company went bankrupt twice in World War I and 1931 during the world economic war from 1929 to 1933 After that, Charles Guth, president of Loft Industries - a chain of candy and soft drinks stores, took bought Pepsi's main business and put it up for sale in his store -1934 - PepsiCola's sales skyrocket in the US -1941 - European penetration -1947 - Expands into the Philippines and the Middle East -1964 - Diet Pepsi - the first diet beverage on the market -1965 - Pepsi acquires Frito-Lay Corporation -1998 - PepsiCo completes the acquisition of Tropicana for $3.3 billion In 1998, Pepsi celebrated its 100th anniversary and launched released a new logo for the new millennium - the required image with colors blue, white, red on a cold blue background, the most important point in the worldwide system of Pepsi logos Now PepsiCo is: • The world's leading food and beverage company • The company operates in nearly 200 countries with more than 185,000 employees globally • The company has annual sales of $39 Billion • The world's fastest-growing food and beverage company PepsiCo provides products that meet users' diverse needs and preferences, from products that bring fun and dynamism to products that are beneficial to health and healthy living The company includes PepsiCo Americas Beverage -PAB, North and South American Food Pepsi, Pepsi Europe, Pepsi Asia Middle East, and Africa Main products: Besides the billion-dollar Pepsi brand, this group also owns many prominent recreational water brands such as Mirinda, Up, Mountain Dew, or Aquafina filtered water The process of formation and development in Vietnam -December 24, 1991 - International Beverage Company (IBC) was established as a joint venture between SP Co and Marcondray - Singapore with a capital contribution ratio of 50% - 50% -1992 - Construction and inauguration of Hoc Mon factory -1994 - PepsiCo officially entered the Vietnamese market when it entered into a joint venture with IBC International Beverage Company with the launch of the first two products, Pepsi and Up from the first date when My Skinceutation with Vietnam Nam 1994 -1998 - 1999 - This time is also at the structure about the capital changes with owner 100% on PepsiCo -2003 - The company was renamed PepsiCo Vietnam International Beverage Company Many beverage products are not released such as Sting, Twister, Lipton Ice Tea, Aquafina -2004 - through the merger and acquisition of the Dien Ban factory, the company expands production and business in Quang Nam -2005 - Officially become one of the largest beverage companies in Vietnam -2006 - the company expands production and sales of food with Poca snack products that are used by consumers and young people -2007 - Developing more soy milk industry -2008-2009, after inaugurating a food factory in Binh Duong, (later separated into Pepsico Vietnam Food Company), the company expanded the material area in Lam Dong Many new products in the beverage segment were also launched such as 7Up Revive, Lipton Green Tea; Twister -2010 - marked an important milestone for PepsiCo Vietnam as PepsiCo announced its continued investment in Vietnam of $250 million for the next three years 2/2010, the new host at Can Tho officially came into operation -2012 - This year the San Miguel factory in Dong Nai in March 2012 and the largest PepsiCo factory in Southeast Asia was inaugurated in Bac Ninh in October 2012 -April 2013 - The strategic beverage alliance Suntory PepsiCo Vietnam was established between Suntory Holdings Limited and PepsiCo, Inc in which Suntory accounted for 51% and PepsiCo used 49% with the launch of new products Oolong Tea + Plus and Mountain Dew The head office of the company is located at: • 5th Floor, Sheraton Building, Saigon, 88 Dong Khoi, District 1, Ho Chi Minh City • Tel: 08488219437 Fax: 08488219436.Hotline: Website:www.pepsiworld.com.vn • Email: webmaster@pepsiworld.com.vn Branches: (08)9100623 • Ho Chi Minh City: A77 Bach Dang, Ward 2, Binh Thanh District • Hanoi: 233B Nguyen Trai, Thanh Xuan District, Hanoi • Da Nang: National Highway 1A Dien Thang, Dien Ban, Quang Nam • Can Tho: Lot Main Street, Tra Noc Industrial Park, Can Tho • Products of PepsiCo Vietnam: Pepsi, Mirinda, Aquafina, Twister, H2OH, Sting, Seven Up & SevenUp Revive, Body Naturals, Lipton, premium Snacks source :(https://www.suntorypepsico.vn/page/lich-su-cong-ty) Pepsico's goals and resources a) Target: Pepsico mission: “ become a leading consumer goods company, focusing mainly on convenience food and beverage We are constantly looking for and creating healthy financial returns for our investors, creating growth opportunities, and bringing economic benefits to our employees, business partners, and the communities in which we live, work We always strive to operate based on honesty, fairness, and integrity in all our activities” Source: (https://www.suntorypepsico.vn/page/gioi-thieu-pepsico) b) Resources: • Pepsico is the second largest soft drink producer in the world with strong financial resources The 2018 financial statements had a net profit of more than VND 1,639 billion, up 15% over the same period last year At the end of 2018, Pepsico Vietnam recorded a cumulative profit of more than 3,200 billion dong • Pepsico has the largest share in the beverage sector, with large production plants and modern production lines • Pepsi always has new initiatives to create new products to meet the increasingly diverse needs of consumers • Pepsi owns a team of capable and efficient employees Distribution and sales system nationwide • Today Pepsi is becoming more popular than ever According to the survey, out of every carbonated beverage products sold in the world is Pepsi In total, Pepsi sells more than 200 million products a day and this number continues to increase PART 2: PEPSI’S MARKETING ENVIRONMENT Macro factor: a) Demographic factors: The current average population of Vietnam is 98,135,792 people Vietnam's population currently accounts for 1.25% of the world's population and 37.34% of the population lives in urban areas In 2021, Vietnam's population is expected to increase by 830,246 people and reach 98,564,407 people by early 2022 (according to data from the United Nations) In the population structure of Vietnam, the age group 15-24 accounts for the majority compared to other age groups The population pyramid in 2020 is not much different from 2010, but the number of people aged 20-34 has begun to increase significantly PepsiCo Company tends to mainly target young teenagers and especially in the age group of 15-30, so in the Vietnamese market, it is a market full of potential customers Thanks to the design image of the logo, then the famous slogan "choice of the new generation", eye-catching products, attractive advertising campaigns These strategies have helped Pepsi become one of the most influential beverage companies in the Vietnamese market b) -Economical factors: According to Vietnam's economic statistics in 2020: • GDP growth: 2.91% • GDP per capita: 3,500 USD • Inflation rate in 2020 increased by 2.31% compared to the average in 2019 Vietnam's economy is developing, so consumer demand for food and drinking water is also increasing On average, each person needs about liters of water per day, so the need for drinking water is essential in human life Around the beginning of the 90s, when Vietnam began to open up the market, there was hardly a brand of soft drink in the country besides the brand "xa xi" dating from before 1975 and later with the brand name Tribeco are mostly handmade brands At that time, Pepsi started to penetrate the Vietnamese market, and immediately dominated the Vietnamese market from the South to the North All small soft drink companies in Vietnam immediately went bankrupt with a simple trick of Pepsi, which is "big discount promotion" With low prices, plus the reputation of "world-leading" quality, Pepsi surpassed all Vietnamese competitors in a short time After that, Pepsi proceeded to establish a nationwide distribution system In addition to the agents, Pepsi has access to most of the cafes, which promote and consume a large amount of Pepsi soft drinks Source:(https://vef.vn/the-gioi/2011-12-24-coca-pepsi-cuoc-thu-hung-tai-thi-truongviet-nam/19766/) However, now things are not as easy as before Now, domestic manufacturers are also developing strongly, plus the fierce competition of Coca Cola, so Pepsi also has difficulty in consuming In addition, the economic situation is also affected by the current Covid epidemic, which has made it difficult for Pepsi managers to have effective marketing strategies c) Political and legal factors: In Vietnam: By accumulating and supplementing international laws: Anti-monopoly law, intellectual property rights, patents, etc., Vietnamese law is gradually improving to create a healthy competition between domestic and foreign companies country The State's investment support and encouragement policies create opportunities and challenges for PepsiCo and businesses in the Vietnamese market: Opportunities: Expanding production scale nationwide thanks to borrowing capital from state banks In addition, through services and advertising channels to bring their products close to the public Challenges: Fierce competition from other corporations In addition, it is necessary to ensure the demand for food safety from consumers, and to advertise honestly and with culture in the context of an enhanced consumer status d) Sociocultural factors: Vietnamese consumers have the following characteristics: + Focus on health: Vietnamese people's eating habits are changing more and more in a more positive direction In addition to eating well, eating well, Vietnamese consumers are also interested in eating to stay healthy Therefore, Pepsi had to introduce policies that guarantee product safety and quality and put more emphasis on health issues + Vietnamese tastes are different from Westerners Vietnamese consumers prefer carbonated soft drinks with rich sweetness, strong carbonate concentration creating a feeling of refreshment, while Westerners prefer a lighter taste Pepsi has grasped that and immediately met the taste habits of Vietnamese people + Vietnamese people love football and always follow domestic and foreign football matches, especially football matches of the national team Pepsi has captured this culture and launched appropriate advertising shows The most obvious is when launching the slogan "Drinking Pepsi is to support the Vietnamese national team to reach the international arena", Pepsi's sales immediately skyrocketed + Young people today are increasingly interested in entertainment with video games and often follow e-sports tournaments This is an opportunity for Pepsi to attract and receive the attention of young people if it captures this need In fact, not only Pepsi but heavy competitor Coca Cola, or even in the field of food McDonald's has also entered the Marketing war, seeking to put its products in advertising in games electronic 10 bottles are produced from biological materials such as corn husks, grass, etc., through many conversion steps Pepsi also uses waste products from its food production process such as potato peels, orange peels and oat husks to produce Green-Pet bottles This type of bottle has the same use and appearance as those produced from Petroleum The ingredients of the product are from water, flavor, sugar, CO2, mixed with works of art Besides, the work of standardizing the production process, product quality and local distribution system is also arranged in a complete way to ensure that using a bottle/can of Pepsi at home also makes people happy feel comfortable using cool, refreshing, enjoyable like drinking right after buying Price Pepsi pricing strategy to penetrate the market: Unlike the low price strategy to filter the market, Pepsi chose a relatively low price strategy for new products to penetrate the market, in the hope that it will attract a large number of customers large number of customers and gain a large market share Discount pricing: Pepsi will adjust its prices to reward customers who pay ahead of time, buy in bulk, payment discount is a discount for customers who buy and pay 20 ) ... Carbonated drinks like Pepsi or Coca-Cola are gradually disappearing in the choice of Vietnamese consumers This is a challenge not only for soft drink brands in Vietnam including Pepsi The purchasing... participate in the activities of Pepsico''s system… In 2012, the PepsiCo factory with the largest scale in Southeast Asia was inaugurated in Bac Ninh This demonstrated Pepsi'' s ability to develop in the Vietnam. .. are changing more and more in a more positive direction In addition to eating well, eating well, Vietnamese consumers are also interested in eating to stay healthy Therefore, Pepsi had to introduce