(TIỂU LUẬN) according to (haymoda n d), masans kokomi is ranked 2nd in the viet nam instant noodle market share

KOKOMI SITUATION ANALYSIS Group ID: HN_G4_ Team Memebers of Kokomi Team: Trinh Thao Linh - s389178 Dinh Nguyen Vu Dang – s3819269 Dao Dieu Hoang Ha - s3878361 Nguyen Gia Huy - s3908767 Do Minh Anh - s3766202 Le Duc Minh s3878477 WORD COUNT: 5000 words TABLE OF CONTENTS 1.INTRODUCTION 1.1 Company description 1.2 Product description MARKETING ENVIRONMENT 2.1 Microenvironment .2 2.1.1 Suppliers: 2.1.2 Intermediaries: .2 2.1.3 Customers .2 2.1.4 Publics 2.1.5 Company 2.1.6 Competitors 2.2 MACROENVIRONMENT 2.2.1 Demographic environment .4 2.2.2 Economic environment 2.2.3 Natural Environnement 2.2.4 Political Environment 2.2.5 Cultural Environment 2.2.6 Technological Environment .7 2.3 S.W.O.T .8 3 STDP 3.1 Segmentation .9 3.2 Targeting 3.2.1 Main customer .9 3.2.2 Targeting strategies 10 3.3 Differentiation 11 3.3.1 Product: 11 3.3.2 Service: 11 3.3.3 People: 11 3.4 Positioning .12 3.4.1 Value proposition: 14 V CONCLUSION: 15 VI REFERENCES 16 APPENDIX 1: 19 APPENDIX 2: 20 1.INTRODUCTION Company description In 1990, Masan Group was just a local instant noodles factory in Russia and found by Mr Nguyen Dang Quang; not until 2001 was Masan officially introduced to the Viet Nam market Masan Group, in other words, is known as the Masan Group Joint Stock Company (Hai 2012) They are one of the leading business groups in the Vietnam economy Masan Group focuses on consumer goods and resources of Vietnam, intending to become the number one business group in Vietnam; Masan has continuously grown in recent years Masan Group owned several subsidiaries in which are Masan resources, and especially Masan Consumer Corporation The company's main area of expertise is the production and distribution of food and beverage products Their products have started to export to markets such as the United States, Canada, France, Russia, Poland, Japan, China (Truc 2018) In 2016, Masan consumer was ranked 7th in the list of Top 50 most valuable FMCG (fastmoving consumer goods) brands of Vietnam (Thanh Nien, 2016) However, in this report, we will focus on Kokomi instant noodles of Masan Consumers Product description In recent decades, it is irrefutable that instant noodles have played an integral part in everybody's daily life since it provides them enough nutrition, energy with tasty flavor (TCVN 2004) Thus, to respond to the market demands for noodles, Masan has presented Kokomi to the market in 2011 (Masan Group 2012) In recent years, it becomes one of the consumers' prominent instant noodles in Viet Nam, which uses unique seasoning methods that top-up shrimp soup sauce to the overall toughness and chewy texture of the noodles Kokomi instant noodles have a specific recognizable red color along with reasonable price and high-quality packaging According to (Haymoda n.d), Masan's Kokomi is ranked 2nd in the Viet Nam instant noodle market share MARKETING ENVIRONMENT Microenvironment 3.1.1 Suppliers: Behind the success of Masan Group is one of their leading suppliers, Tien Hung company, which provides a massive amount of flour for Masan This organization is the first domestic company to apply new production technology and the most advanced transfer of its flour products, with decent quality, not inferior to foreign competitors Strength: By signing annual contracts with the suppliers, it ensures a stable source of goods in their production chain At the same time, it also helps to assure the quality and uniformity of Masan's products 3.1.2 Intermediaries: Masan consumer has one of the gigantic network distributions in Vietnam With about 3000 shop stewards, 180.000 food retailers, and 160.000 beverages retailers (Masan Consumer 2018), their products also appear in many supermarkets like Lotte Mart (Lotte Mart 2019) In 2019, Masan completed its billion-dollar deal by buying VinMart, VinMart +, and VinEco into its system and directly managing it (Viet Nam News 2019) Moreover, most of Masan’s products are available on the digital shopping channels (Bach Hoa Xanh, Shopee, Tiki) (Appendix 1) but not available widely on the company’s website (Masan Consumer 2021) Strength: Masan products are dense, and they cover one of Vietnam's biggest retailers, Vinmart and Vinmart +, because of Masan's acquisition It is one of the best advantages of Masan since every region of Vietnam has a Vinmart or Vinmart + store Furthermore, collaboration with supermarkets and major distribution networks such as Big C, Coop Mart will benefit Masan in boosting sales as they have a large and reliable consumer base Masan also supports online sales through well-known shopping sites such as Tiki and Shopee, making Kokomi items more accessible to people who not have time to go shopping, and they could gather as many customers as possible Weakness: Lack of product information on Masan’s website, problematic for consumers to buy its products through Masan’s online selling platform 3.1.3 Customers A research of Nguyen (2020) stated that the Vietnamese consumption for instant noodles ranked top globally, with 5.43 billion servings, up 4.4 percent year-on-year; proof of the considerable consumption quantity of Vietnamese people in terms of this product It is said by the CEO (Chief Executive Officer) of the company, Nguyen Van Thang, that the goal of Masan's instant noodles is to be a decent meal, healthy meal, not only a "Ready-to-eat" product This method helps increase the revenue of instant noodles to 38% in 2019 and even higher in 2020 (Thuong Truong 2021) According to Masan, their target audience are all personal However, at the beginning of 2021, the Vietnamese Government has increased 40 working hours per week, and most of the instant noodle companies target audiences ages from 18s to 30s Thus, we can conclude that Masan has the same target consumers ages for their products (Audience insight 2020) Opportunity: Based on the above information, it becomes one of Kokomi's most important opportunities as the young generation becomes busier Many people will choose instant noodles because of their quick and neat features when they want to save time and effort to concentrate on their jobs Furthermore, the fact that Vietnam's instant noodle industry ranks fifth in the world implies the high demand for instant noodle As a result, it creates a chance for the company to sell their products because Kokomi could meet their needs 3.1.4 Publics Masan's contributions to the communities are also considerable In 2019, Masan donated 40 million Vietnam Dong for the V-league in years to encourage sportsmanship in the nation (Tuoi Tre online 2019) The company sponsored 280 million VND and accompanied by the program "Save lives of little hearts" of the Sponsoring Association Disability According to the Masan Consumer report, the company donated 500 instant noodles boxes to the typhoon's casualty in the middle of Vietnam (Masan Consumer 2021) These actions promote Masan's image and their sustainability with the community in the present to the future Strength: Kokomi has developed a positive reputation for its brand by doing charity work and contributing a lot of money and its goods, which has helped Kokomi's brand image become closer to the public Opportunity: Furthermore, it might help Kokomi brand increase its coverage 3.1.5 Company Masan Group is one of the most extensive business systems in Vietnam The firm has several different companies set up domestically and internationally, Masan Meet life, Masan High — Tech Materials, Masan consumer Thai Lan Recently, Masan built a sustainable relationship with Techcombank, which is one of Vietnamese's largest banks Techcombank knows Massan's market features due to its strategic and robust connection with Masan Group As a result, the bank has launched the product "Financing Masan distributors" with many outstanding benefits On the Techcombank website, they said an incredible credit policy: "Loan to value ratio up to 90% for real estate used as collateral; collateral being Masan products are accepted with the loan to value of up to 95%; Goods self-managed by the Customer and 105% loan outstanding to be secured by goods." (Techcombank 2021) Since Masan Consumer has one of the largest systems, it creates jobs for 4,600 employees; its General Director is always looking forward to diversifying goods, customers' potential domestically and internationally Moreover, the working condition is also a crucial factor for the GD: the employees constantly upgrade modern labor protection equipment The company's goal is to create an engaging and fair working environment that their employees feel comfortable working in In their annual report in 2018, Masan is proud to be among the best places to work in Vietnam With varieties of supports from Masan, the company goal is to seek new talents and helps the employees to archive their goals Strength: One of the strengths and distinguishes of Kokomi compared to other brands is the parent company of Kokomi — Masan group With its extensive experience through Omachi products, Masan could prevent many mistakes in developing the Kokomi products Besides, Masan is a large corporation with many companies, departments providing an efficient and professional working environment In addition, Masan has started to approach overseas markets by opening a subsidiary in Thailand (Masan Consumer Thailand) This makes it easier for Masan to access overseas markets as they have already begun to build foundations in markets other than Vietnam and have started to export their products (Hang 2020) On the other hand, the cooperation between Techcombank brings economic benefits to both parties Based on the above statement from the Techcombank website, Masan enjoys a lot of financial supports from them, such as large and stable debts 3.1.6 Competitors There are varieties of competitors targeting the same audience as Masan, and some of the most significant rivals are Miliket, Asian Food, Vina Acecook However, the most influential company in this long run is Vina Acecook that has the most significant market shares (Tuoi Tre Online 2020) This company has the most popular instant noodle in Vietnam with more than 20 brands, including Hao Hao, SiuKay, Quang Noodle Quen of Danang, Udon Suki Suki, Yummi, De Nhat, and non-fried noodle blocks Acecook proudly said on their website that during the two consecutive years of 2018 and 2019, they are also recognized as "the most selected instant noodle manufacturer," the "spearhead" brand of the company For the most popular product, Hao Hao Noodle is also honored as "The Most Selected Food Brand" in Vietnam (as of July 2019) in urban areas (Acecook 2019) Besides local instant noodles brands, many international brands are also looking forward to joining the Vietnam market Nongshim Vietnam reported, "$2.53 million in sales and around $135,000 net income in the first six months of this year." (Vnexpress 2019) Moreover, on the market, sour and spicy spices are the most popular for instant noodles Due to the information of Chao Hanoi News (2020), the top instant noodles have similar tastes which are sour & spicy Threat: One of the challenges to Kokomi in the Vietnamese noodle market is its late launch compared to other noodle brands such as Hao Hao, Miliket, and others Since Acecook and Miliket have established their brands for a long time and captured vast market shares Furthermore, big brands such as Acecook and Miliket have loyal and consistent customers, limiting the number of Kokomi target customers Moreover, in the Vietnamese market, as instant noodle has become one of the dishes that Vietnamese people are familiar with due to its speed and convenience, several brands have introduced new noodle lines to meet the needs of customers Weakness: Based on the above information, the instant noodle market is currently highly competitive, as increased brands emerge with the same sour and spicy flavors based on Vietnamese people's typical tastes Therefore, in terms of taste, Masan has no breakthroughs or unique characteristics MACROENVIRONMENT 3.1.7 Demographic environment From 2010 to 2020, Vietnam has increased its population by 10 million, reaching over 97 million people in 2020 (Pyramid Population 2010-2020) Opportunity: the rising in population would boost the demand for food in long-term However, the young people population (18 – 30 years old) decreased from 29% to 22.5% compare to 2010 (Pyramid Population 2010-2020) Threat: This would negatively affect the sales of Kokomi instant noodle since 18 – 30 years old population are the target customers 3.1.8 Economic environment Despite the impact of the COVID 19 pandemic, the Vietnamese economy still receives a growth in GDP (Gross Domestic Product), specifically 2.9% in 2020 (The World Bank 2021) However, 45% of households inform that their household incomes have been reduced in January 2021 compared to January 2020 (Tran et al 2020) Opportunity: During the Covid pandemic, many families feared the disease, so they rushed to buy storage items to avoid moving and contacting in crowded places Therefore, the most chosen food products are suitable products with a long shelf life and challenging to go rancid, such as canned food, instant noodles With such a mindset of storing food to avoid diseases in the future, the number of instant noodles consumed is rising, assisting instant noodle manufacturers in increasing sales Opportunity: The pandemic negatively affects Vietnamese customers’ purchasing power Nonetheless, this does not affect Masan consumers since their products are not targeted toward high-income households but the mediumto-low-income ones Due to the income reduction among households, consumers tend to buy products from Masan Group, which are affordable and ready-to-use Threat: Moreover, this poses a challenge to Masan in general and Kokomi in specific The outbreak of Covid 19 in Vietnam has also led to social distancing It means that Masan might have to stop producing to comply with the government's request, which led to the interruption of Masan's production process Besides, many Kokomi materials for production also have a specific expiry date; stop production may cause those materials to expire and cannot be used The making of the noodle packages will be affected Moreover, the social stretch would make it difficult for people to buy things, which could reduce Kokomi's sales 3.1.9 Natural Environnement These days, many developing countries choose to invest in the economy in exchange for their environment This problem leads to environmental problems such as climate change and air pollution Vietnam, as a developing country, is no exception Thus, going environmentally friendly is a big concern for Vietnamese consumers and firms Customers tend to consume products from firms that are actively protecting the environment Knowing this, Masan Consumer undertakes waste treatment and sustainable energy management to minimize the negative impact that their products may negatively effect on the environment (Masan Annual Report 2019) Masan Consumer is trying its best to control wastewater Using advanced water monitoring systems, they preserve and keep track of their water usage efficiently Masan Consumer Holding has invested in Dutchdesigned wastewater treatment plants in production factories in Binh Duong, Hai Duong, and Nghe An to minimize their wastewater and re-circulated up to 7% of them for watering plants and cleaning workshops (Masan Annual Report 2019) However, in 2020, there were many complaints about how Masan is causing pollution to the nearby areas The locals informed that the polluted air is making them sick Moreover, the close by areas which used to be crowded now only has a few people due to the unbearable smell from Masan factories Others also reported that Masan factories keep discharging wastewater without any covering, which makes awful smell reaches local areas (Dang D 2020) This is not the first time that Masan Consumer has been reported for polluting the environment despite their attempts to protect the environment and control wastewater Masan must pay close attention to this issue because scandals like this will negatively affect their sales and Masan’s overall image Threat & Weakness: Environmental issues are one of Masan's threats Today, environmental issues are being noticed, and Masan harms the environment is widely condemned Even when Masan takes steps to protect the environment and try to mitigate the negative consequences it caused; the results are still unsatisfactory The low ability to solve environmental problems is also a weakness of Massan 3.1.10 Political Environment In Vietnam, the food and beverage industry are controlled by three departments: Ministry of Industry and Trade, Ministry of Health (MOH), and Ministry of Agriculture and Rural Development The MOH has supreme power in terms of decisions (Ngoc Thu 2015) “Ministry of Industry and Trade focuses on press activities, which specializing in research on science, economics, business and technology in the industrial and commercial sector” (Ngoc Thu 2015) Ministry of Agriculture and Rural Development is a governance agency management system in the fields such as agriculture, salt production, water services, and rural development nationwide (Ministry of Agriculture and Rural Development 2021) The Ministry of Health is responsible for improving health, wellbeing and creating long-term health policy programs Masan Consumer must pay close attention to this ministry because it influences most of the decisions Regarding the health policies, Masan Consumer is very proficient in the quality of their products and the health of their consumers Opportunity: The government's food safety and hygiene targets would make Masan more careful in production It helps to minimize food safety risks as well as customer complaints about quality and hygiene 3.1.11 Cultural Environment As mentioned in 2.1.3, Vietnam holds fifth place in the instant noodle market with 5.43 billion servings, up to 4.4% year-over-year However, Vietnam has the highest rank regarding the average serving population, with 56 servings per person a year (Dat Nguyen 2020) Vietnam’s instant noodle consumption had risen from 4.8 billion servings in 2015 to 5.43 billion servings in 2019, and it is still increasing (Dat Nguyen 2020) Overall, it is inferred that instant noodle has become a part of Vietnamese’s people everyday life It is considered a must-have item in every household due to its low price and ready-to-eat characteristic Moreover, instant noodle provides a reasonable amount of nutrients, and it is easy to eat Even though the Vietnamese instant noodle market is desirable with such high consumption volumes, it is not easy for instant noodle manufacturers to succeed regarding many competitors However, Masan Consumer’s instant noodles such as Omachi, Kokomi, and Tien Vua are very profitable and welcomed in the Vietnamese market According to Vietnam Investment Review, Masan Consumer made about trillion VND ($220 million) from instant noodles per year Refer to “Opportunities” part of section 2.1.3 3.1.12 Technological Environment Masan Consumer uses biogas technology from betel and sawdust to generate energy for all the factories Biogas is the natural gas created from the breakdown of organic bacteria and is often used in energy production (Masan Consumer Annual Report 2019) “Biogas is primarily composed of methane gas, carbon dioxide, and trace amounts of nitrogen, hydrogen, and carbon monoxide It occurs naturally in compost heaps, as swamp gas, and because of enteric fermentation in cattle and other ruminants” (Badurek 2020) Using biogas gas, Masan Consumer can protect the environment while simultaneously having to spend less regarding energy and create jobs for the locals According to Masan Consumer Annual Report 2018, they have spent 225 thousand tons of gas and 54.300 kW of electricity Moreover, about 27% of Masan’s packaging is made of renewable materials using advanced technology The company informs it that the cost of imported raw materials has been reduced to 70% of the total raw cost of materials used over the years To ensure that the raw materials are high-quality, Masan Consumer requires import license, analysis, inspection raw materials delivered from non-GMO plants, and food safety licenses There is a need for a quality control system for food safety and hygiene and quarantine animals and farming methods The qualified suppliers will be rated as “home offers approved” and will be committed to cooperating under an annual contract Strength: By owning high technology system, Masan effectively controls the quality of its products Specifically, the non-GMO system's invention has successfully created safety products for customers with guarantee quality Because of this new technology, Masan has given customers confidence in product quality At the same time, Masan not only save enormous energy but also shrinkage the damage that deal to the environment because of the Biogas 2.3 S.W.O.T Strength  Big mother company  Mansan, Techcombank & Vinmart have strong relationship  Has subsidiary in Thailand (Masan Consumer Thailand Limited)  Guarantee quality and safe products because of the non-GMO technique  Strong finance support from Techcombank  Trustable product resources  Brand image increases because of their charity work Weakness  Lack of information in Masan website Hard for people to buy Masan products in their website  No breakthroughs or special characteristics  The ability to solve evironment problem is weak Opportunity Threat  Already approached the international market  Many people stockpile canned foods and instant noodles to prevent the prolonged Covid 19  Late entry into the market  The goverment provision helps Masan to minimize the risks in their production process  Environment problem  The social distancing because of the Covid 19  The group of people from 18-30 years old is decreasing  Many competitors in the market STDP 3.1 Segmentation Segments Segmentation Demographic Gender Occupatio n Income (Base on quintile) Psychographi c Behavioral Geographic People under 18 years old People from 18 to 30 years old All genders Mostly students, White and blue collars and Unemployed About 988.000vnđ – 4.954.000vn đ Mostly None Pupils None Pocket money (General Statistics Office 2020) (General Statistics Office 2020) Lower lowers upper lowers working class middle class Social class Lower lower supper lowers working class middle class Lifestyle Parent's dependenc e High study load Attitudes Lazy Do not know how to cook Striver Survivors Intense study and workload Money savers Work addicted Lazy/busy to cook People from 31 to 59 years old People from 60 and above Mostly white and blue collars unemployed Mostly retired, and unemployed About 988.000vnđ – 3.330.000vn đ (General Statistics Office 2020) Lower lowers upper lowers working class About 988.000vnđ – 3.330.000vn đ (General Statistics Office 2020) Lower lowers upper lowers Striver survivors Survivors Empty nesters Money savers Money savers Benefit Convenience/Speed/Economy Area All over Viet Nam 3.2 Targeting 4.1.1 Main customer With indepth understanding of customers' needs, Kokomi has chosen “People from 18 to 30 years old”, which mostly consist of college/university students and workers to be the main targeting segment Deshpande, Basil & Basil (2009) shown that at the age of 18 people often being independence for the first-time and have complete control of their food choice, they often rate “healthy” as the least influencing factors While ease of preparation, convenience and price are the top consideration (Deshpande, Basil & Basil 2009) The same data was found in a research on determinant affects food decision among workers (Clohessy, Walasek & Meyer 2019) The authors also pointed that this food choice trend could be due to the high-work load and stress that workers bear Furthermore, 18- 30 years old also noted to be the busiest age group (Q&Me Vietnam Market Research 2017) and top customer target for Facebook ads audience of instance noodle companies in Vietnam (Audienceinsight 2020) (refer to Appendix 2) Thus, Kokomi, a low-price instance noodle would be the satisfying solution for theirs demand of convenience, economy, and ease of preparation 4.1.2 Targeting strategies Via a range of different Kokomi’s advertisement, it could be identified that differentiated marketing has been used for Kokomi’s targeting strategy The company’s target customer is changing over time, and they were being shown clear through each ads The following table will give examples of this finding Year Advertisement 2011 Comments On the early year when it first entered the market, Kokomi created advertisement related to family lives to attract and target this group of customers Reproduced from Masan Consumer (2011) 2016 Later, they focus on an additional segment which is people and family in rural area This customer group had been depicted clearly via simple dressing and the rural area-based settings/concepts in Kokomi 2016 advertisement Reproduced from Mì Kokomi (2016) 2019 After that, they release the ads targeting pupils and school by portray a lunch time in a primary school Reproduced from Kokomi Mì 90 (2019) 10 2020 Last year, Kokomi has used office-based settings to advertise its newest productline Kokomi 90 to its customers In the video, the company had shown their target customers by having actors plays as office workers Reproduced from Kokomi Mì 90 (2020) From the table above, we could see that Kokomi has applied differentiated marketing to target different customers group such as families, rural area people, pupils, and officer, over periods Differentiation 4.1.3 Product: Kokomi's first difference compared to other instant noodle brands in the market is the quality of the noodles The quality of Kokomi's noodles is more supple and brittle, helping users always feel the toughness (Toplist 2019, VNtoplist 2020) The second difference is the weight of the package Compared with the volume of instant noodles on the Vietnamese market at present, Kokomi 90 has the largest volume (90g) Despite its large weight, Kokomi 90 noodles are still cheap compared to other types of instant noodles To be more specific, the larger weight of instant noodles but still low priced is one of the right strategies that Kokomi uses to attract low and middle-income customers to choose their products 4.1.4 Service: First, Kokomi owns a fanpage on the Facebook social platform to provide information, promote products and interact with consumers Kokomi guarantees quick replies on Facebook Specifically, customers can leave questions or feedback messages and after that Kokomi's admin will ensure feedback and support within 24 hours Furthermore, the admins are also highly active because they spend time interacting with customers in the comments section of their posts Furthermore, Kokomi also has a Youtube channel to provide information and promote its products Finally, Kokomi also affirmed that they care about consumers when they are not only bringing delicious, convenient and affordable meals but also deliver spiritual joy One of Kokomi's campaigns is to present lanterns in each carton of noodles to light up the excitement of children on the MidAutumn night (VTC News 2016) Besides, Kokomi has a promotion that gives animal-shaped children's watches for each carton of noodles (Kokomi Mi 90 2017) as well as a lucky scratch-card promotion with the chance to win gold (VTC News 2016) 4.1.5 People: The quality of a company's workforce is critical to its success, especially in competitive marketing Knowing that, Masan Consumer in general and Kokomi in specific have made continuous efforts in investing and developing human resources in recruitment activities or retain qualified staff relevant to their key management positions (Khang 2014) Therefore, for those positions, Masan Consumer has recruited many senior leaders including Vietnamese and foreigners with many years of experience working in multinational corporations such as P&G, Unilever, Nestle (Khang 2014) Besides, Masan Consumer also runs a "Masan Young Entrepreneur" program to aid in the recruitment of highly qualified employees (Trang 2020) Finally, the working environment at Masan Consumer is also ranked 17th in the top 100 best working environments in Vietnam 2020 (VNexpress 2020) Positioning 11 Positioning map: Figure: Positioning map for price and package volume The map shows the prominent position of the Kokomi brand in the Vietnamese instant market in terms of factors: price and volume per pack This position is basing on Kokomi 90, which has more volume per pack but still a low price The table below demonstrates how Kokomi 90 could acquire the competitive advantage mentioned above 12 Brand name Gram (g) % difference Price in mass (VNĐ) compared with KOKOMI 90 % difference in price compared with KOKOMI 90 KOKOMI 90 90 None 3600đ None 2.50% OMACHI 80 11.1% 7500đ 208% 1.07% Đ ỆNHẤẤT 8.9% 6000đ 167% 1.37% The mass of Omachi noodles is less than Kokomi 90 noodles 11,1%, but the price is 208% higher than Kokomi The mass of Đ ệNhấất noodles is less than Kokomi 90 noodles 8,9%, but the price is 167% higher than Kokomi HẢO HẢO 75 16.7% 3600đ 100% 2.08% The mass of Hảo Hảo noodles is less than Kokomi 90 noodles 16,7%, but the price is 100% higher than Kokomi CUNG ĐÌNH 80 11.1% 6500đ 181% 1.23% The mass of Cung Đình noodles is less than Kokomi 90 noodles 11,1%, but the price is 181% higher than Kokomi MIỀỀN MILIKET 13 82 Ratio of Comment mass to price 75 75 16.7% 16.7% 3500đ 3400đ 97% 94% 2.14% 2.21% The mass of Miềền noodles is less than Kokomi 90 noodles 16,7%, but the price is only 3% lower than Kokomi The mass of Miliket noodles is less than Kokomi 90 noodles 16,7%, but the price is only 6% lower than Kokomi In the affordable noodle segment, there are four significant products that competing intensely which are Kokomi 90, Hao Hao, Mien, and Miliket However, Kokomi is still standing out due to its greater mass-toprice ratio To be more specific, the mass of Hao Hao noodles is less than Kokomi 90 noodles, 16.7%, but the price is 100% higher than Kokomi Furthermore,the mass of Mien noodles is less than Kokomi 90 noodles, 16.7%, but the price is only 3% lower than Kokomi Finally, the mass of Miliket noodles is less than Kokomi 90 noodles, 16.7%, but the price is only 6% lower than Kokomi 4.1.6 Value proposition: From the instant noodle market positioning map in terms of price and volume per pack, Kokomi in general and Kokomi 90 has more volume per pack and lower price Therefore, Kokomi applied "More for less" for their marketing strategy, meaning lower price than competitors but more volume per pack By utilizing this method, Kokomi has attracted the majority of low to medium-income customers to choose their products 14 V CONCLUSION: [What is working well: Kokomi's instant noodles product has received many positive feedbacks and responses from customers not only all over the Vietnamese market but also overseas Additionally, Kokomi has a diversity of sizes and the toughness of noodles However, it remains the same regarding the competitive price of the product, which is such a bargain for customers Using high-quality and non-GMO raw material, Kokomi ensures that their products are safe and hygienic Also, Kokomi's coverage is tremendous since they are available in supermarkets such as Vinmart and Big C [What is not working well: Despite Masan consumers are financially applying modern wastewater recycle and water treatment to minimize the impact on the environment, the negative influence that Masan's factory has caused on the environment is remained (Dang 2020) Furthermore, Masan Consumer's website display lacks enhancement, which is not attractive and gives customers a dissatisfying experience [Core values: Although Kokomi has late participated in the Vietnamese instant noodles market, it has gradually overcome all the difficulties and managed to be one of the unique brands in the market: Kokomi spends a big budget on the automatic production system with four checkups to ensure the highest quality Kokomi is continuously innovative because, in a brief period, they can produce a series of Kokomi instant noodles with different variations of sizes and flavors Kokomi focuses on the customer experience as they carefully research the customer's insights to figure out their demands Kokomi also develops a wide range of promotions and minigames to attract different types of customers Kokomi has successfully owned the client's loyalty in just a short period and is constantly growing to reach a higher rank in the Vietnamese instant noodles market 15 VI REFERENCES Acecook 2020, Acecook 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Vietnamese During the National Social Distancing’, Frontiers in psychology, (lat xoa link) Trang, N 2020, ‘Masan Young Entrepreneurs 2020 với nhiềều điểm mới’, Thanh Niền, 24 Jul, viewed 14 April 2021, < https://thanhnien.vn/gioi-tre/masan-young-entrepreneurs-2020-voi-nhieu-diem-moi-1255461.html> Trang, T 2021, Masan thay đổi chiềấn lược mì gói, Thươ ng Trường, viewed 15 April 2021, Truc, LTK 2018, Giới thiệu cơng ty Masan, Bách Hố Xanh, viewed 18 Aril 2021, < https://www.bachhoaxanh.com/kinh-nghiem-hay/gioi-thieu-cong-ty-masan-995018> Van Ban Phap Luan 2017, Tiều chuẩn Việ t Nam TCVN 5777:2004 vềề mì ắn liềền Bộ Khoa học Công nghệ ban hành, < https://vanbanphapluat.co/tcvn-5777-2004mi-an-lien> Vietnam Investment Review 2017, ‘Vietnam’s instant noodle giant’, Vietnam Investment Review, 22 Dec, viewed 03 April 2021, < https://www.vir.com.vn/vietnams-instant-noodle-giants-54058.html> VnExpress 2020, ‘Top 100 nơi làm việc tôất nhấất Việt Nam nắm 2020’, VnExpress, 20 Oct, viewed 14 April 2021, VnToplist 2020, Top 10 Th ương hiệu mì ằn liềền ưa chu ộng nhấất Việt Nam, VnToplist, viewed 14 April 2021, Xuan, K 2019, ‘Masan tài trợ trền 40 tỉ đôềng cho V-League 2019’, Tuoi Tre News, 20 Feb, viewed 17 Aril 2021, 18 APPENDIX 1: Names Visual Link https://www.bachhoaxanh.com/mi/mi -3-mien-gold-tom-chua-cay-goi-75gr Bach Hoa Xanh Reproduced from Bach Hoa Xanh (2018) Shopee https://shopee.vn/search? keyword=kokmi Reproduced from Shopee (2021 Tiki https://tiki.vn/big-c-thung-30-mi-tomchua-cay-kokomi-90g-60891p82774601.html?src=ss-organic Reproduced from Tiki (2016) 19 APPENDIX 2: From Audience Insights (2021) 20 ... canned food, instant noodles With such a mindset of storing food to avoid diseases in the future, the number of instant noodles consumed is rising, assisting instant noodle manufacturers in increasing... (Dat Nguyen 2020) Vietnam’s instant noodle consumption had risen from 4.8 billion servings in 2015 to 5.43 billion servings in 2019, and it is still increasing (Dat Nguyen 2020) Overall, it is inferred... Kokomi instant noodles have a specific recognizable red color along with reasonable price and high-quality packaging According to (Haymoda n. d), Masan''s Kokomi is ranked 2nd in the Viet Nam instant