MARKETING PLAN TRESEMMÉ - GRAPEFRUIT DRY SHAMPOO MARKETING MANAGEMENT

Word Count: 5954 words UNIVERSITY OF FINANCE - MARKETING FALCUTY MARKETING - - MARKETING PLAN TRESEMMÉ - GRAPEFRUIT DRY SHAMPOO MARKETING MANAGEMENT Le Tran Duy Tai ID Student: 2021001484 Nguyen Thi Hoang Nhi ID Student: 2021001716 Nguyen Ngoc Tram Anh ID Student: 2021001814 INSTRUCTOR: Dang Huynh Phuong CLASS: CLC_20DMA03 Ho Chi Minh city, 2021 CONTENTS A EXECUTIVE SUMMARY B SITUATION ANALYSIS 1 OVERVIEW OF THE SHAMPOO MARKET IN VIETNAM INTRODUCING UNILEVER 2.1 VISION 2.2 MISSION INTRODUCING TRESEMMÉ BRAND MARKET ANALYSIS 4.1 SWOT ANALYSIS 4.2 MACRO-ENVIRONMENT 4.2.1 Political - legal 4.2.2 Economic 4.2.3 Cultural - social 4.2.4 Demographic 4.2.5 Technological 4.2.6 Natural 4.3 ANALYSIS OF COMPETITORS 5 TRESEMMÉ STP STRATEGY ANALYSIS 5.1 SEGMENTATION 5.2 TARGET MARKET 5.3 POSITIONING MARKETING MIX STRATEGIES 6.1 PRODUCT 6.1.1 Product brand 6.1.2 Product packaging design 6.1.3 Decisions related to product characteristics 6.1.4 Product support service 6.1.5 New product development 6.1.6 Value propositions 6.2 PRICE 6.2.1 Pricing strategy for the new product of TRESemmé grapefruit shampoo 6.2.2 Price adjustment strategy 6.3 PLACE 6.3.1 Distribution strategy 6.4 PROMOTION 6.4.1 Advertising 6.4.2 PR 6.4.3 Sales promotion 6.4.4 Direct marketing 7 ACTION PLAN CONCLUSION LIST OF REFERENCES & ORIGINALITY 14 10 APPENDIX 17 LIST OF PICTURES AND TABLES Figure Vietnam political index in 2018 Figure Positioning map Figure Percentage of consumers purchasing products at specific distribution locations Figure Control 14 Table SWOT Table Analysis of competitors Table Segmentation Table Prices of competitors Table Timeline Table Activities within a year for new products Table 10 Estimated material cost 17 Table 10 Estimated variable cost 18 Table 10 Estimated average fixed 18 Table 10 Sales projection 19 Table 10 Assessing the performance of work 19 MARKETING PLAN TRESEMMÉ - GRAPEFRUIT DRY SHAMPOO A EXECUTIVE SUMMARY As society develops, the demand for beauty is constantly increasing Women currently are very concerned about themselves, their external beauty, especially their hair But beauty often takes a lot of time, and today's women often choose the most time-saving services or hair care products but still bring standard hair like a salon Therefore, dry shampoo is an essential item for the daily life of women in Vietnam Seizing that opportunity, Unilever has launched a new product, TRESEMMÉ - Grapefruit Dry Shampoo However, the shampoo market is a potential and attractive market, with more and more companies large and small, from domestic to foreign participating in this market competition To maintain our position in the market and how to create a shampoo product that is a top choice for everyone, our team decided to plan a 1-year marketing plan for a new product line, which is Tresemmé - Grapefruit Dry Shampoo by Unilever B SITUATION ANALYSIS OVERVIEW OF THE SHAMPOO MARKET IN VIETNAM The Vietnamese shampoo market is currently one of the potential markets with many different competitors Shampoo products are products that belong to the group of cosmetic goods, for consumers this is an essential product for daily living needs Currently, hair care products in Vietnam have a large market size, stretching from North to South, diverse in many different age groups, genders, and incomes Therefore, the number of customers buying and using shampoo is increasing According to many experts, women are often busy with jobs such as housework, family care, personal work, etc., so they not often use shampoo Statistics show that men use shampoo every day, and women about 2-4 times a week With the line of shampoos for women, there are some prominent names such as: Dove, Clear, Sunsilk, TRESemmé (Unilever), Pantene, According to the results of the 2019 Population and Housing Census, the total number of Vietnamese people Male population is 96,208,984 people, in which female population accounts for 50.2% or 48,327,923 people Given the large population and the proportion of the female population more than half of the total population, the number of female shampoo consumers will be larger Therefore, the potential for developing the hair care market in Vietnam is enormous, especially for brands that ensure quality, ingredients, and are environmentally friendly Customers are more and more interested in personal care and hygiene and are willing to spend more on good quality products As a result, the women's shampoo market in Vietnam is expected to thrive in both quantity and quality (TRESemmé Homepage, n.d.) INTRODUCING UNILEVER Unilever is a multinational enterprise, established by the UK and the Netherlands, specializing in the production of consumer goods such as cosmetics, cleaning chemicals, toothpaste, shampoo, food leading in the world gender Established in 1930 from the merger of two businesses, Lever Brothers (a soap manufacturing company in the UK) and Margarine Unie (a margarine manufacturing business in the Netherlands), the current headquarters of Unilever business are in places, London, and Rotterdam (Brands Vietnam) 2.1 VISION Unilever Vietnam's vision is to bring sustainable living to millions of Vietnamese people, contributing to the realization of the United Nations' global goals on sustainable development Through the company's products, Unilever Vietnam wishes to help Vietnamese people have a good life in all aspects, from health and spirit, to help them enjoy life and good service quality, to inspire everyone to join hands to build a better society 2.2 MISSION Right at the time when Unilever Vietnam was established, the company set out the mission as "To add vitality to life" This mission means the desire to bring a better life to everyone through the company's products INTRODUCING TRESEMMÉ BRAND Inspired by the belief that “Every woman deserves to be beautiful without spending a lot of money”, TRESemmé was founded and named after renowned hairdresser Edna Emma in 1948 At Godfroy, Edna launched TRESemmé – named after Edna, which in French means "much loved" The brand specializes in providing high quality everyday products at home To put it another way, TRESemmé products can give salon-quality hair care at home, just like they at the salon It was originally an American hair care brand, but in 2010, Unilever purchased the trademark from Alberto-Culver, who had purchased it in 1968 (Bittar, Christine, 2004) The goal of TRESemmé is to deliver salon-style elegance to ladies at home The brand wants to empower women to take care of themselves, to go above and beyond, and to not be afraid to express themselves with this vision in mind TRESemmé debuted in several nations throughout the world with the goal of providing every woman with the tools she needs to take care of her hair In 2014, this brand made its debut in Vietnam TRESemmé sponsored "Vietnam's Next Top Model," one of the country's most popular and well-known model game programs, to raise awareness among Vietnamese people TRESemmé has outstanding hair care products such as: • Keratin Smooth Shampoo • Platinum Strength Conditioner • Platinum Strength Shampoo • Salon Detox Conditioner • Salon Detox Shampoo • Keratin Smooth Cream And the new product about to launch on the market is TRESemmé's grapefruit dry shampoo MARKET ANALYSIS 4.1 SWOT ANALYSIS Table SWOT 4.2 MACRO-ENVIRONMENT 4.2.1 Political - legal The policy of building an industrialized and modernized Vietnamese economy is a great opportunity for foreign companies, Unilever to promote investment and develop products in the Vietnamese market More specifically, the Law on Investment (National Assembly) (2005) 59/2005 / QH11 2019 was passed in November 2005 to ensure the legitimate rights and interests of investors, investment incentives when investing in Vietnam and investment from Vietnam abroad (chinhphu.vn 2019) In addition, Vietnam's political stability index has been quite stable recently, at 0.2 in 2018 (Euromonitor International 2019) Figure Vietnam political index in 2018 This is a great opportunity for TRESemmé because it makes it easier for TRESemmé to attract domestic and foreign investment From there, it is possible to expand its share in the market 4.2.2 Economic Vietnam has experienced significant economic progress since 2002, according to the Worldbank The GDP expanded by 2.7 times (to 2,700 USD in 2019), the poverty rate fell from 70% to less than 6%, and the unemployment rate among the 15-24 age group was extremely low, at only 1.98 percent in 2019 Vietnam's economy continues to exhibit solid fundamentals in 2019, with growth of 3.8 percent in the first quarter of the year, driven by strong domestic demand and export output In 2020, macroeconomic and fiscal stability to GDP with growth of 3.8 percent in the first quarter of the year (World Bank nd) This report demonstrates that Vietnam's economy is fast increasing, as are people's living standards People are increasingly using hair care products to achieve beautiful hair as their money rises According to Statista, hair care product sales totaled $212.6 million in 2019 (up 3.4 percent from 2018), with revenue per person at $2.20 (Higher than in 2018) 2.3 percent higher than in 2018) (Statista 2020) According to a Vinaresearch survey, the number of women who never or seldom visit the salon is significantly larger than the number of women who visit the salon frequently (Vinaresearch 2013) Furthermore, because having a job implies less time for hair care at the salon, consumers frequently opt to care for their hair at home with hair products customer's demand This might generate a lot of potential for hair care products, but it could also lead to a lot of competition between brands Apart from TRESemmé, other leading hair care brands include Nexxus (USA), L'Oréal (Spain), Pantene (Switzerland), and others (My 2017) 4.2.3 Cultural - social Over the past two decades, the Vietnamese government has begun to modify from a centralized design towards a “socialist market economy under the guidance of the state” People have the freedom to own property and conduct commerce, but it is governed by 27 governments TRESemmé must grasp the government policy in Vietnam before entering the market since this is the only way for them to adapt to the Vietnamese people and make more money Vietnam has joined the World Trade Organization (WTO) and is a member of several international organizations, including free trade agreements with partners both within and outside the area TRESemmé sees the new move as an opportunity because it makes doing business easier for the company 4.2.4 Demographic According to the General Statistics Office of Vietnam, in 2019, the number of Vietnamese women was more than 48 million In Vietnam, diverse hair care practices have been observed among this population According to a survey performed by Q&Me in 2016, women between the ages of 35 and 44 are more likely to purchase cosmetic items and are aware of the need of maintaining their health The report specifically highlighted different age groups and the amount of money people spend on personal care Women between the ages of 18 and 25 spend just approximately $20 to $35 per item per month, whereas those between the ages of 25 and 30 spend $35 to 50% per item on more premium and high-quality care goods As people get older, these costs rise, and women aged 30 to 60 spend up to $100 on anti-aging products (Q&Me 2016) The beauty industry is one of the fastest expanding sectors in Vietnam, thanks to rising consumer demand and higher disposable income, with sales of personal care products increasing at an annual pace of 8.6% from 2018 to 2020 (Statista 2020) In terms of hair care habits, according to a Q&Me poll from 2016, 71 percent of respondents wash their hair less than once a day, and half wash it every three days People are becoming more conscious about their appearance, particularly in terms of hair maintenance ⚫ Short interview with a hair care expert for about 45 seconds to talk about TRESemmé grapefruit dry shampoo From there, it is possible to increase the confidence of women with the quality of the product ⚫ Besides, to promote the convenience and quality that TRESemmé grapefruit dry shampoo brings, TRESemmé decided to make a viral video with the theme "The secret to creating smooth hair with TRESemmé" in which pop up the topic "Quickly clean your hair" - the issue that TRESemmé's potential customers are interested in * Social media ⚫ Posting articles, short-interviews, viral videos on Facebook, Instagram, Tiktok, Youtube channels These activities mainly focus on the target customer group which is women aged 23-40 years old ⚫ Run ads for platforms Facebook, Youtube, Website With Facebook mainly focusing on main articles, TVC about shampoo, viral video In Youtube, it is similar, the website also runs ads to attract more readers ⚫ Developing and optimizing TRESemmé's website, performing SEO for articles about TRESemmé's shampoo products not only on the website but also all articles on electronic newspapers ⚫ Poster printing: new product posters are placed in some showrooms, trade centers, cosmetic stores, and beauty care services 6.4.2 PR ⚫ KOLs, influencers: Use KOLs, influencers who are hair experts or have high public trust From the reviews of this new TRESemmé - grapefruit dry shampoo from Influencers, KOLs, customers will also know more about the product and increase their credibility And for many years, TRESemmé has also cooperated and been very successful with supermodel Minh Tu So, this time, TRESemmé will still invite Minh Tu to be the brand ambassador for its new product, grapefruit-flavored dry shampoo ⚫ Sponsorship: Sponsoring celebrity music videos and hair reality TV show "The Next Face Vietnam" In addition, the exclusive sponsorship for programs, gameshows, some major events in the field of hair care with contests about hair, beauty pageants, fashion currently or officially created and streamed This new product will be an effective support product for the event sponsored by TRESemmé ⚫ Event: TRESemmé "Trial Day" event - Grapefruit dry shampoo through the sampling counter will be brought into a large shopping center to attract a lot of people's attention 6.4.3 Sales promotion ⚫ Promotion sale in combo, when buying bottles of grapefruit dry shampoo, you will get bottle of hand sanitizer When you buy or more products, you will receive an additional 5% discount ⚫ Direct promotions for intermediary distribution channels such as supermarkets, retail stores when they pay early 6.4.4 Direct marketing Contact famous shopping centers and beauty salons to hang banners This work has a very good impact, hitting directly on the target customer group because this is a place of high trust from the customer group, and thereby increasing TRESemmé brand recognition Using distribution channels, the company's Salons/Spas hire hair experts to introduce customers to try this new product line Provide customers with outstanding product features And TRESemmé grapefruit dry shampoo will be a gift for customers doing services at salon or spa to experience this new product line, creating an impression of product image in the eyes of consumers ACTION PLAN Table Timeline CONCLUSION The marketing plan of the TREsemmé grapefruit dry shampoo that we chose was a proven strategy in the cosmetic industry and the basis for the introduction of a new and innovative TREsemmé product To the best of our knowledge, we've worked hard to come up with the best strategies to help the product grow from the outside in TRESemmé Grapefruit Dry Shampoo will be marketed as a unique and convenient product for customers who want to gently clean their hair without spending much time Following on from the success of the TREsemmé brand, we hope that these strategies will help TREsemmé grapefruit dry shampoo achieve its sales target and reach 70% of Vietnamese consumers Besides, give them awareness about dry shampoo products that not many people know about before As a global hair care brand, we are known and trusted by many, we will strive to uphold those values or maybe even better and surprise our customers Not only with TRESemmé grapefruit dry shampoo, but we are also able to meet the different needs of our customers in terms of hair care and most importantly, introduce new and improved features into our products We think we've found the right formula to keep making progress, we just need to more of what we're doing Our target in the next year, specifically in 2022, sales of TREsemmé Grapefruit Dry Shampoo will increase by 55% in Vietnam In terms of brand awareness, we will boost this to 70% in the eyes of Vietnamese consumers of dry shampoo and this number will continue to increase gradually in the coming years And finally, our goal is to be able to capture 19% market share of hair care cosmetics in Vietnam Table Activities within a year for new products Category Target Detail Time Quantity unit Unit price (VND) 1st Quarter Total (VND) 30.000.000 - Forecasting future customer trends and competitor actions Market - Provide many research databases to implement STP and reasonable 4P - Research market trends, consumer needs, Jan/2022 Feb/2022 30.000.000 30.000.000 0 competitors strategy Product ideas planning - Consistent with - The name, the results of story, and core marketing research values of the Jan/2022 - - Content easily product line Mar/2022 reaches target - Choose customers material - The number of products; the name of each product - Choose the model, color for the product - Planning 4Ps - Design Conduct the marketing strategy - Contributing to an posters effective and - Select suitable strategy for concept, TVC the product to prepare for - Develop an action product launch plan - Design a Mar/2022 0 multimedia campaign 2nd Quarter 857.800.000 Goal: Sell 150,000 products - Invite a hair Short care expert to Interview -Attract the attention of target TVC customers, increase brand recognition Viral video Apr/2022 16 Clip 2.000.000 32.000.000 Apr/2022 Video 300.000.000 300.000.000 talk about of dry shampoo TRESemmé grapefruit dry shampoo - Post a viral video with the topic "The secret to creating smooth hair 10 with TRESemmé" to knock out the topic "Quickly clean your hair" - Post articles Upload about new articles/vi deos to fanpages (FB, IG, - Reach as many products, viral customers as videos on possible existing Apr/2022Jun/2022 0 fanpages of TikTok) brands Facebook - Run ads for Ads platforms Poster 2.760.000 13.800.000 Month 9.000.000 27.000.000 300.000 CPC 150 45.000.000 Event 30.000.000 90.000.000 Facebook, Instagra Advertisi m customers as ng possible (Social media) - Reach as many -Advertise products Youtube widely to consumers ads Youtube, Website Facebook mainly focuses on main Apr/2022 Jun/2022 articles, TVC about shampoo, viral videos - Attract customers' Event “Trial attention, increase Day” the level of trust for new products - Let customers try dry Apr/2022 shampoo products to 11 gain more confidence and feel the smoothness of the product Website Apr/2022- SEO Month 20.000.000 60.000.000 Apr/2022 500 Poster 80.000 40.000.000 Apr/2022 500 100.000 50.000.000 200.000.000 200.000.000 Jun/2022 In poster Banner Offline Sampl e - Buy products get Promotion when - Increase customer buying combo attraction and sales free bottle of hand sanitizer - Buy get Apr/2022Jun/2022 extra 5% off total bill 3rd Quarter 1.975.800.000 Goal: sell 90,000 products Facebook Ads Advertisi ng Instagra (Social m media) Youtube Poster 2.760.000 13.800.000 Month 9.000.000 27.000.000 300.000 CPC 150 45.000.000 person 120.000.000 120.000.000 - Post articles - Maintain product about products, image in customer's on existing mind fanpages of Jul/2022 Sep/ 2022 brands ads KOLs/Inf Hồ Ngọc - Post photos luencer Hà with products 12 Minh Tú - Create customers' on social confidence in the networking newly launched sites Posting Châu Bùi product line Reach posts a month person 150.000.000 150.000.000 person 60.000.000 60.000.000 more consumers Sponsori ng the program Sponsors hips “The Next Face - Sponsor - Increase brand products for awareness through the program affiliate program during the 1.500.000.000 1.500.000.000 Aug/2022 broadcast Vietnam” - Increase consumer confidence and help consumers better Hire consultants Jul/2022 - - Open a seminar to talk about understand the understanding features and Jul/2022 person 20.000.000 and features of benefits of the new products product 4th Quarter 603.800.000 Goal: sell 60,000 products Facebook Ads Advertisi ng Instagra (Social m media) - Maintain product about products, Poster 2.760.000 13.800.000 Month 9.000.000 45.000.000 300.000 CPC 150 45.000.000 500.000.000 500.000.000 Oct/2022 image in customer's on existing - mind fanpages of Dec/2022 brands ads buying combo - Post articles Youtube Promotion when 60.000.000 - Increase sales to - Promotion Nov/2022 reach the target of when buying - selling 300,000 products, you Dec/2022 13 units in the first will get year bottle of hand sanitizer for free - Buy get extra 10% off total bill TOTAL 3.467.100.000 Control Figure Control 14 LIST OF REFERENCES & ORIGINALITY Thông cáo báo chí Kết sơ Tổng điều tra Dân số Nhà năm 2019 (2020, October 8) Tổng cục Thống kê Retrieved December 7, 2021, from Am hiểu cơng ty, tự tin vấn: Tập đồn Unilever Việt Nam | Nguyễn Hoàng Vũ (2014, September 18) Brands Vietnam Retrieved December 7, 2021, from Trang chủ TRESemmé (n.d.) Tresemme Retrieved December 7, 2021, from Bhasin, H (2018, December 10) SWOT analysis of Tresemme - Tresemme SWOT analysis Marketing91 Retrieved December 7, 2021, from Situation Analysis Report | TRESemmé® - Marketing Principles - (n.d.) StuDocu Retrieved December 7, 2021, from Euromonitor International 2019, Economy, Finance and Trade: Vietnam, country report, Passport, Passport database Luật Đầu tư (Quốc hội) (2005) 59/2005 / QH11 2019, Lấy từ: 15 Tổng Quan Việt Nam (n.d.) World Bank Group Retrieved December 7, 2021, from https://www.worldbank.org/vi/country/vietnam/overview Vina Research 2013, Haircare routine of woman, industry report, Vinaresearch Retrieved from Statista 2020, 'Revenue of Hair Care in Vietnam', Statista Retrieved from My, M 2017, 'Top 15 most famous hair care brand worldwide.', Miss Kick, viewed August 2020, Q&Me (2016), “Nghiên cứu hành vi sử dụng mạng xã hội người Việt năm 2016” Retrieved from: Euromonitor International 2020, Beauty and Personal Care in Vietnam, country report, Euromonitor Retrieved from: Dầu gội khô tươi mát Fresh & Clean (n.d.) TRESemme Retrieved December 7, 2021, from Báo cáo nghiên cứu thị trường - Thị trường dầu gội Việt Nam (2014, August 11) Vinaresearch Retrieved December 7, 2021, from Bittar, Christine; Positioning: Tresemme Hair Line Goes Back To Its Roots; Brandweek; [200406-28]; retrieved on 2007-12-24 Bhasin, H (2018, December 10) SWOT analysis of Tresemme - Tresemme SWOT analysis Marketing91 Retrieved December 13, 2021, from https://www.marketing91.com/swot-analysis-of-tresemme/ 16 10 APPENDIX This section will provide an overview of TRESemmé's finances in relation to communication activities TRESemmé will deal with issues related to break-even analysis, sales revenue, cost projections, and give how it works in relation to the company's communication strategy Total quantity: 300,000 products ESTIMATED MATERIAL COST Table 10 Estimated material cost => Material cost per unit is 20.250 VND 17 ESTIMATED VARIABLE COST Table 10 Estimated variable cost => Variable cost per unit = 24.550 VND ESTIMATED AVERAGE FIXED Table 10 Estimated average fixed => The fixed cost per product is 15.867 VND 18 SALES PROJECTION: 300.000 units Table 10 Sales projection Break - Even Point ~ 124.000 units ASSESSING THE PERFORMANCE OF WORK Table 10 Assessing the performance of work No Member ID Student Completion level Le Tran Duy Tai 2021001484 100% Nguyen Thi Hoang Nhi 2021001716 100% Nguyen Ngoc Tram Anh 2021001814 100% 19 PLAGIARISM CHECKED BY TURNITIN 20 ... December 7, 2021, from Am hiểu cơng ty, tự tin vấn: Tập đồn Unilever... 2021, from Trang chủ TRESemmé (n.d.) Tresemme Retrieved December 7, 2021, from ... Việt năm 2016” Retrieved from: Euromonitor International 2020, Beauty and Personal Care