(TIỂU LUẬN) TOPIC MARKETING PLAN FOR PS TOOTHPASTE WITH ARECE AND MINT ESSENCE

THE FINANCIAL UNIVERSITY OF FINANCE - MARKETING Class: CLC_20DMA06 TOPIC MARKETING PLAN FOR P/S TOOTHPASTE WITH ARECE AND MINT ESSENCE Major: MARKETING Specialized: MARKETING MANAGEMENT Ho Chi Minh City, 2021 THE FINANCIAL UNIVERSITY OF FINANCE - MARKETING TOPIC MARKETING PLAN FOR P/S TOOTHPASTE WITH ARECE AND MINT ESSENCE Instructors: Ngô Minh Trang Students implementation: Trần Hồng Thy - 2021008564 Bùi Như Quỳnh – 2021008533 Nguyễn Đình Nghĩa - 2021008492 Ho Chi Minh City, 2021 TEACHER’S COMMENTS Student implementation: Trần Hồng Thy - 2021008564 Bùi Như Quỳnh - 2021008533 Nguyễn Đình Nghĩa - 2021008492 Score in number Teacher’s signature Major: MARKETING Ngô Minh Trang EXECUTIVE SUMMARY P/S is preparing to launch a product with areca and mint essence toothpaste We can effectively compete with many other famous brands of toothpaste because our products have a unique combination of areca and mint essences We are targeting specific segments of the consumer market aged 12 and older Nowadays, concern about oral health is increasing, so we launched a toothpaste with superior quality yet an affordable price with benefits in use Marketing target for the first year with sales of 800,000 tubes The main financial goals are to achieve sales revenue in the first year of 3,120,000,000 VND, accept a loss in the first year, and break even in the second year TABLE OF CONTENTS TEACHER’S COMMENTS .1 EXECUTIVE SUMMARY .2 A SITUATION ANALYSIS MARKET SUMMARY UNILEVER COMPANY OVERVIEW SWOT .6 3.1 Strengths 3.2 Weaknesses 3.3 3.4 Opportunities Threat analysis COMPETITOR .7 STP 5.1 Segmentation 5.2 Targeting 5.3 Positioning B MARKETING STRATEGY GOALS WANT TO ACHIEVE MARKETING STRATEGY 10 2.1 Product .10 2.2 2.3 Price 11 Place .11 2.4 Promotion .11 C FINANCIAL PROJECTIONS 12 D IMPLEMENTATION CONTROLS 14 REFERENCES 17 PLAGIARISM REPORT 18 A SITUATION ANALYSIS MARKET SUMMARY Worldwide, the toothpaste market share of Colgate palmolive (Colgate) accounts for 45%, while Unilever accounts for only 9%, P&G accounts for 15%, Figure 1: Toothpaste market share in the world In the Vietnam market, Colgate and Unilever are the two leading companies, accounting for nearly 90% market share of the whole toothpaste industry But there is a complete opposite compared to the worldwide market share, in Vietnam Unilever holds 65% market share, far ahead of Colgate with 25% market share and P&G with Crest brand completely lost in the whipped cream market And it can be said that the toothpaste market in Vietnam is completely in the hands of Unilever and Colgate, so hundreds of domestic and foreign toothpaste brands have to work very hard to share a meager 10% market share Figure 2: Toothpaste market share in Vietnam Although they entered the Vietnamese toothpaste market together at the same time, with their miscalculations and strategies, it seemed that Colgate had to give up almost all of its market share to Unilever With the position of a giant in the toothpaste market in Vietnam, Unilever often launches P/S toothpaste products with new flavors to meet the needs of all consumers In this trend, we plan to launch P/S toothpaste with areca and mint essence In order to bring a new taste to consumers, today with the trend of consuming products of natural origin, we believe that P/S products with areca and mint essences will be welcomed by consumers positively and develop strongly in the future We direct our products P/S areca essence to customers who have preferences and needs to use products of natural origin UNILEVER COMPANY OVERVIEW Unilever is a British and Dutch multinational company The company specializes in the distribution and production of personal care, home care and food products to meet the essential needs of consumers Unilever is currently operating in more than 190 countries and territories around the world In 1995, Unilever officially operated in Vietnam It is estimated that every day, about 35 million Unilever products are used by consumers nationwide with a variety of products: P/S, OMO, Clear, Knorr, Sunsilk, They have long become familiar names to Vietnamese families With the mission that Unilever has set out as: "To add vitality to life", in order to fulfill that mission Unilever wants to make the lives of consumers better and better through bringing its products In Vietnam, Unilever's vision is to make the lives of Vietnamese people better SWOT 3.1 Strengths - The new P/S product has a strong aroma from areca berries, sweetness from areca flowers, creating a comfortable feeling from cool mint - With the support of the global Unilever group, it has a strong financial background - Inheriting modern technologies and techniques of Unilever - Nationwide distribution channel, easy contact with products - Unilever Vietnam's technology research and development is always focused and adequately invested - Current products always have genuine warranty stamps to help customers recognize the real and fake goods to trust consumers 3.2 Weaknesses - New product is the essence of areca fruit that picks up users - There are still many technologies that are not used in Vietnam due to the high cost and expensive import from abroad - As a company originating from Europe, the product strategy in general is not really suitable with Asian culture including Vietnam - Production process has not been advanced, techniques are still limited - Unilever recently had to cut its budget due to the general economic situation of the world 3.3 Opportunities - The technologies are increasingly advanced - Income and quality of life are increasingly improving, consumers pay more attention to choosing good quality products for health - Vietnam has a young population structure, likes novelty, and wants to experience new things - The family model was expanded, the demand for toothpaste products increased - Easily exported to countries around the world because Vietnam has a long coastline and many large ports 3.4 Threat analysis - The product that has just been launched on the market has many shortcomings, there is no deep appreciation from customer experience - The coverage of P/S's new product line is not wide enough to compete with the names already present in the market - Vietnam's economic growth rate is not really high, showing low product consumption ability - There is competition from many well-known brands: Colgate, Sensodyne, growing stronger, diversifying products, improving quality - In the next few decades, the young aging population and the aging population structure will no longer be Unilever's advantages COMPETITOR In the Vietnamese market, the brand that is considered the No competitor of P/S is Colgate According to statistics, Unilever's toothpaste market share leads with more than 65%, while Colgate's is at 25% (Source: List of toothpaste products on the Vietnamese market in 2016) However, we cannot be subjective when Colgate and many other toothpaste brands are constantly upgrading and improving their products Main competitors: * COLGATE is a long-standing brand in the world with a wide range of oral care products such as: Colgate Sensitive, Colgate Maxfresh, Colgate herbal salt, Colgate for children, with outstanding uses: cause tooth sensitivity, prevent tooth decay, clean plaque, protect tooth enamel, and cause tooth irritation * CLOSE-UP is a direct competitor to P/S when both are under Unilever Along with that are the benefits that have been verified by experts: Prevent tooth decay, protect teeth, remove plaque, make teeth whiter, kill bacteria, prevent bad breath, freshen breath when using the products: Close-up for teeth whitening with coconut flavor, Close-up of cool mint, *SENSODYNE with products like Sensodyne Fresh Mint, Sensodyne Cool Gel, etc., is recommended by experts for the following uses: effective prevention of tooth decay; maintaining a protective layer against tooth sensitivity; shiny white teeth; breath always fresh; reducing tooth sensitivity; protecting tooth enamel and gums; controlling tartar STP 5.1 Segmentation - Market segmentation by customer behavior: • • Reasonable prices, diverse products of good quality, suitable for each family member Purchase for personal or family use - Market segmentation by demographics: • • • Age: Customers are 12 years old or older Gender: The product can be used by both men and women Income: Low-income customers can also own the product - Market segmentation by psychology: • • Motivation to buy: customers today are the younger generation The use of images of dental professionals is intended to gain trust from customers The trial price is 19,000 VND for the small-sized tube and 39,000 VND for the large-sized tube, evoking the feeling that customers can use it at a cheap price - Market segmentation by geography: P/S's new areca-flavored product is targeted at customers in all provinces of Vietnam 5.2 Targeting The potential market for P/S is focused on customers with low to high incomes in rural areas, and especially young customers with high consumption demands With P/S's new areca and mint essence products, it promises to bring customers a completely new experience Mint flavor combined with areca essence helps to freshen breath, create more confidence, suitable for customers with frequent work to communicate In addition, the new strong scent from areca will delight customers from 12 years old and above, the cool mint flavor helps to relax the spirit for a great new day 5.3 Positioning Quality Sensodyne P/S Colgate Close-up Price Figure 3: Product positioning P/S Using product differentiation, we position the new product with areca and mint as a product of improved quality that is superior to similar priced products The uses of our products will focus on preventing tooth decay, protecting, making teeth strong, teeth whitening, and fresh breath B MARKETING STRATEGY GOALS WANT TO ACHIEVE The group hopes that the creation of this new P/S product of areca and mint essence will bring high profits to the company Pricing P/S areca and mint essences will be introduced with an estimated retail price of VND 39,000 per tube This pricing reflects the strategy of attracting desired channel partners and capturing market share from established competitors Total products sold in a year (January 1, 2022-December 31, 2022) are estimated to be 800,000 products With P/S toothpaste with areca and mint essence, Unilever Group wishes to bring a new and refreshing experience to consumers And from new customer experiences The products are widely distributed and are present at large supermarkets and convenience stores across the country MARKETING STRATEGY 2.1 Product a The name of the product P/S offers a lot of new products with outstanding improvements and upgrades to meet the needs of consumers Therefore, our team decided to launch P/S products with areca and mint essence With natural ingredients such as areca essence, natural mint, and nutrients b Product characteristics Toothpaste with areca and mint essence brings a fresh, sweet, and cool feeling when used The product will be guaranteed to be functional for users thanks to the professional team from the company, bringing the most significant effect after long-term use It will not only have significant features, but P/S will also launch eye-catching packaging and designs The manufactured products will have additional stamps to ensure genuine goods or anti-counterfeiting logos to ensure the safety of customers c Ingredient With indispensable ingredients in P/S toothpaste: natural areca and mint essence, Arecolin, Water, Sorbitol, Hydrated Silica, Zinc Citrate, Sodium Lauryl Sulfate, PEG-32, Flavour, Cellulose Gum, Sodium Fluoride, Mica, Sodium Saccharin, have been tested by experts, contributing to helping the product be trusted d Uses 10 It helps prevent plaque on teeth, whitens teeth, has bactericidal and antiseptic properties, reduces sensitivity and brings fresh breath It is especially effective in treating tooth decay and making teeth strong 2.2 Price Products for each tube of toothpaste P/S range from 19,000 VND to 45,000 VND because it is an upgraded product with many ingredients and flavors combined Recommended toothpaste with areca and mint essence costs 39,000 VND, suitable for each family and even students Not only that, Unilever realizes that 80% of Vietnamese consumers live in lowincome rural areas, so the company also has discount strategies when launching new products, such as when buying tubes of P/S toothpaste, you will get a small tube of ice cream for children, and when you buy small tubes of ice cream for children, you will get a small car toy for the child P/S had the most popular promotion that bought P/S toothpaste and got a free P/S brush 2.3 Place The retail distribution system stretches from north to south That's why the P/S toothpaste brand is becoming more and more popular and trusted by consumers Currently, the company has more than 350 wholesale agents and about 150,000 wholesale and retail agents across the country, so its products are flooded throughout the market Thanks to the coverage of P/S at all major supermarket systems, Therefore, our new P/S products will be easily distributed at large supermarkets and grocery stores from urban to rural areas, helping people easily access the company's new products Currently, the situation of the COVID-19 epidemic is stressful Consumers are restricting travel Therefore, we also distribute our new products on e-commerce platforms such as Shopee, Tiki, Lazada, etc., for the convenience of consumers buying products 2.4 Promotion According to a survey by Vinaresearch, the survey results show that P/S is the brand with the highest PBI (Popular Brand Index) of 48.2 points In which, the 11 awareness of P/S includes 61.7% of people when asked about the toothpaste brand that mentioned P/S first, and 94.6% of the respondents knew about this brand And P/S is the brand with the widest advertising coverage; about 45 out of 100 respondents said they see P/S ads regularly in the media (44.7%) P/S's marketing strategy for advertising has two main areas: "Above-the-Line" (direct promotion) and "Below-the-Line" (indirect promotion) Some forms of P/S advertising: - Advertising via TVC: in Vietnam, advertising on television is always highly effective P/S can run ads for about 30 seconds with the message of bringing a bright white smile, full of confidence With our new P/S product, the team proposes inviting Miss H'Hen Niê with a fee of 20,000,000 VND The group not only targets people from the city or neighboring provinces, but also wants to target ethnic minorities like H'Hen Niê to become more widely known - Advertising on the Internet: with the development of technology, P/S runs ads in 5–10 seconds in videos on Youtube or Facebook - Sponsoring reality programs: The annual reality program sponsored by P/S is "Protect Vietnamese Smile." Support costs for patients with cleft palates who cannot afford surgery In this way, not only are more people interested in the company and the product, but they can also convey many messages to consumers This is used to help them understand and sympathize with these unfortunate fates - Forms of gifts and promotions: a free toothbrush with the purchase of two tubes of toothpaste, and an extra tube of any toothpaste with the purchase of three tubes C FINANCIAL PROJECTIONS Implementation period: Jan 1, 2022 – Dec 31, 2022 Total budget: 5.000.000.000 VND Work Amount of money Execution time 12 Advertising through TVC The cost of TVC production >50.000.000 VND Invite a dental specialist ~ 20.000.000 VND Invite the face to represent the product ~20.000.000 VND The team designs new product images to publicize on social networks and newspapers ~ 10.000.000 VND 1/1 – 31/3 1/1 – 28/2 Introducing new products, providing information and features from experts invited by the company to film TVCs to advertise products Promoting new product images to consumers Promotions: When purchasing three products (P/S toothpaste + P/S ~1.000.000.000 toothbrush + P/S VND mouthwash), you will receive a 10% discount code Free gift (brush and toothpaste tube) ~150.000.000 VND 13 Quarter 1: 1/1/2022 31/3/2022 Quarter 4: 1/102022 31/12/2022 Quarter 3: 1/7/202230/9/2022 Quarter 1: price reduction when new products are released, in order to bring new products to consumers Quarter 4: End-of-year discount to pay off all items from the previous year before the new one Sweepstakes Support for cleft palate surgery for people in difficult circumstances Quarter When consumers know the product, they organize sweepstakes for customers to create an image of the product that does not fade in the minds of consumers ~3.000.000.000 VND Quarter 1,2,3,4 Every quarter (including the next months) will support surgery for 50 patients ~250.000.000 VND 31/3 – 30/6 ~150.000.000 VND Advertising through banners with slogans "P/S-Protect Vietnamese Smile" spanning 64 provinces and cities Total: 4.650.000.000 VND D IMPLEMENTATION CONTROLS Things don't always go according to plan in marketing strategy Because the marketing environment is constantly changing rapidly, the company needs to periodically re-evaluate the effectiveness of its marketing strategy To achieve the desired effect, the company will periodically check the following business activities: • • Revenue: monthly, yearly Cost: monthly, yearly Check monthly and yearly to make sure the target has been met exactly as set out 14 • • • Customer satisfaction and feedback Profitability test: Measure the actual profitability of your product, customer group, commerce channel and order size, etc Check strategy: Assess whether the company's marketing strategy is still appropriate, affecting the market, customers or not Contingency Planning Criteria Product Risks Solutions - In the process of manufacturing the product and transporting the toothpaste, the enterprise discovered that the product was damaged - Defective toothpaste products reach consumers Financial -Purchase: Enterprises deliver money first, but the supplier does not guarantee the quantity of products or does not deliver toothpaste products to the business - Cancel all orders of defective toothpaste and create a new order to confirm the quality of the company's products - Implement the policy of product return and exchange according to the company's regulations if customers give feedback on defective toothpaste products -It is necessary to set out the terms in the contract and the laws to deal with if there is a risk when buying - It is advisable to calculate and plan accurately based on specific reports to implement -Financial planning: inaccurate a campaign for that cash flow planning, causing loss toothpaste product line to of business money avoid losses later - Find out the causes leading -The product's target is not met to the loss of money of the business to have the most effective remedy 15 Marketing Strategies -Customers not know or are not interested in the company's new P/S toothpaste 16 - Using a different strategy to attract customers, businesses can change segments or change the target market REFERENCES Hương, T (2021, 10 27) Marketing24h Retrieved from https://marketing24h.vn/unilever-la-gi/ Diệu, Đ X (2019, 10 14) Tài xây dựng Retrieved from https://tcxd.vn/giatri-cot-loi-la-gi/ Hạnh, L (2021, 12 6) Marketing Ai Retrieved from https://marketingai.vn/chienluoc-marketing-cua-p-s-da-thanh-cong-nhu-nao-tai-viet-nam/ Unilever (2020) Retrieved from http://www.unilivia1.com/about/who-weare/introduction-to-unilever/?navids=tcm:1309-50591-4 Vinaresearch (2018, 26) Vinaresearch Retrieved from https://vinaresearch.net/public/news/2200Bao_Cao_Nghien_Cuu_Muc_Do_Pho_Bien_Thuong_Hieu_PBI_Kem_Dan h_Rang_02.2018.vnrs 17 PLAGIARISM REPORT 18 MEMBER'S GROUP WORK ASSESSMENT Tên thành viên MSSV Trần Hồng Thy 2021008564 Bùi Như Quỳnh 2021008533 Nguyễn Đình Nghĩa 2021008492 19 Đánh giá tham gia thảo luận 100% 100% 100% ...THE FINANCIAL UNIVERSITY OF FINANCE - MARKETING TOPIC MARKETING PLAN FOR P/S TOOTHPASTE WITH ARECE AND MINT ESSENCE Instructors: Ngô Minh Trang Students implementation:... understand and sympathize with these unfortunate fates - Forms of gifts and promotions: a free toothbrush with the purchase of two tubes of toothpaste, and an extra tube of any toothpaste with. .. improvements and upgrades to meet the needs of consumers Therefore, our team decided to launch P/S products with areca and mint essence With natural ingredients such as areca essence, natural mint, and