Untitled Group 3 MKT1709 Group Assignment Marketing Principles (MKT101) 0 0 ACECOOK VIETNAM Group assignment MKT101 Group 3 1 Lê Việt Hà HS163422 Lecturer Trịnh Trọng Hùng 2 Nguyễn Thị Ánh Nguyệt HS16[.]
Group MKT1709 Group Assignment Marketing Principles (MKT101) 0 ACECOOK VIETNAM Group assignment - MKT101 Group 3: Lê Việt Hà - HS163422 Nguyễn Thị Ánh Nguyệt - HS163364 Nguyễn Hoàng Yến - HS163372 Phạm Thị Ngọc - HS160842 Triệu Thị Thanh Xuân - HS163503 Đinh Minh Chiến - HE140704 Lecturer: Trịnh Trọng Hùng 0 Table of contents Table of contents 2 Executive summary 3 Company description, mission, vision, focus Situation analysis a Company SWOT analysis b Product/service SWOT analysis c Competitive analysis d Customer analysis 11 Marketing analysis a Market and target customer 10 b Differential/competitive advantage 12 c Marketing objectives 13 d Overall marketing strategy (the sales plan) 13 i Product strategy and Description 13 ii Pricing strategy 13 iii Promotion strategy 14 iv Place/distribution strategy 14 Recommendation 15 0 Executive summary Analysis report on Acecook Vietnam The opening is the description, mission, focus, structure of Acecook Vietnam company; The company was established in 1993, As a long-standing enterprise, Acecook Vietnam has created a strong name and position for its products in the market, instant noodle products have become familiar to customers with Vietnamese consumers The second part includes the company's SWOT analysis and SWOT analysis of products/services, competitive analysis and company customer analysis The third part is the analysis of the company's marketing, it includes the market and target customer, the company's competitive advantage over the competition, and its marketing objectives And finally, the overall marketing strategy or sales plan It includes product description strategies, pricing strategies, advertising strategies, and location/distribution strategies Company description, mission, vision, focus ❖ Introduction - Acecook Vietnam Joint Stock Company was founded on December 15, 1993, and has been operative since 1995 Over the years, the manufacturer has developed to become a significant general company Leading with a powerful market position in Vietnam, specializing in high-quality, nutrient-dense quick foods - Acecook Vietnam has built a world of culinary culture with convenient foods, delicious quality, food safety, and hygiene, and brought rich experiences to consumers in Vietnam and around the world since its inception, with the spirit of regularly creating and challenging new things to make products that bring joy to customers on the basis of "Japanese technology, Vietnamese taste." - With the goal of becoming a number one food corporation not only in Vietnam but also reaching bent on the entire world, Acecook Vietnam is committed within the future to continue researching and bringing to the market diverse products with, higher quality, more delicious, creating a culinary culture to satisfy the increasing culinary needs of shoppers and contribute to the event of the food industry in Vietnam - The head office is located at Lot II-3, Road 11, Tan Binh Industrial Park, Tay Thanh Ward, Tan Phu District, Ho Chi Minh City Acecook Vietnam now, after 20 years of establishment, has owned 06 production factories, 700 agents spread across the country, accounting for 60% of the domestic instant noodles market share 0 ❖ History of formation and development process • In 1993, Vifon Acecook Joint Venture was established – the predecessor of Acecook company • In 1995, the company announced and distributed the first product in Ho Chi Minh City The first product is high-class instant noodles and pho, produced to serve the southern market • In 1996, Acecook Vietnam Corporation entered the US export market and established a new branch in Can Tho, responsible for sales to all provinces in the Mekong Delta • By 1999, Acecook Vietnam achieved the title of high quality Vietnamese goods At the same time, won gold, silver and bronze medals in the Vietnam industrial goods fair • In 2000, Hao Hao noodle product was introduced to the market and quickly achieved a breakthrough • In 2003, Acecook Vietnam group completed the system stretching from North to South, providing more value to the community • In 2004, the company officially changed its name to Acecook Vietnam Co., Ltd and moved the factory to Tan Binh Industrial Park • In 2008, it officially changed its name to Acecook Vietnam Joint Stock Company At the same time, officially became a member of the world MAL association • By 2010, the company was honored to receive the First Class Labor Medal • Since then, Acecook Vietnam has constantly developed and provided many quality and safe products for all consumers ❖ Vision To become a leading manufacturer of foodstuffs in Vietnam whose management capacity is commensurate with globalization ❖ Mission ● Satisfy consumers' demands ● Bring happy life and sustainable growth to employees ● Attain a strong position and supports in over the world Based on this mission, Acecook Vietnam always puts the top priority on product quality, while supporting the communication of correct and scientific information about instant noodle products to create safety and peace of mind for customer In recent years, Acecook Vietnam has focused on products for health, both to meet the new needs of consumers and to increase the value of instant noodles ❖ Focus 0 Bringing happiness to everyone through deliciousness, peace of mind and satisfaction is our mission This is the guiding guideline for the whole process of creating products at Acecook: selecting the freshest ingredients, keeping strict quality control standards and constantly researching to create unique flavors – novelty - full of Vietnamese taste Situational analysis a SWOT analysis of the company - Strengths: ● Diversify products, have differences between products, have a combination of tradition and modernity ● Modern technology, advanced production line ● Having strong financial potential and being invested by foreign companies, the company has strong competitiveness in the market, creating a well-known brand name for a long time ● Product flavor is suitable for Vietnamese cuisine ● Have a good relationship with the media - Weakness: ● The product has no difference from the general market ● The advertising strategy is not really attractive and has not yet made a special mark in the subconscious of consumers ● Haven't made a stand out in the high-end market share - Opportunities: ● The market for instant noodles is growing well ● Great market potential ● Has a wide distribution channel ● Consumers are increasingly concerned about the quality of products and above all, their own health ● The sophistication of customers' needs is increasing, they need something new, strange, and aesthetic - Threats: ● The economy is still in crisis ● Many strong competitors ● The price of input materials increased sharply b SWOT analysis of Hao Hao Noodles: - Strengths: ● Has wide coverage, is well known and popular for many years ● Is a convenient product, international quality (manufactured according to Japanese technology) ● In particular, the flavor of Hao Hao noodles with sour and spicy shrimp is suitable for Vietnamese taste and is loved so the consumption of noodles is very large ● There are attractive promotions, prices suitable for everyone's income 0 ● High foreign investment capital, strong operation ● Bank credit rating is quite high - Weakness: ● In general, there is no obvious innovation in the product compared to other similar product lines currently available on the instant noodle market ● If aiming for low-priced instant noodles, Hao Hao noodles are still considered to have higher prices ● But compared to instant noodles in the high-priced segment, Hao Hao in general has a design that is not really eye-catching, and there is little change in packaging over the years in the market ● Hao Hao's advertising has not been invested heavily ● The nutritional value of the product is not high - Opportunities: ● Hao Hao chooses very wide distribution channels (distributed in the form of groceries everywhere, easy to reach consumers, or distributed to large and small supermarkets in residential areas or urban / city) great ● The Vietnamese market in the instant noodle industry has grown year by year very well, the consumption volume and consumer demand are increasing day by day ● Potential market attracts companies to enter the market ● Consumers are increasingly concerned about product quality and above all, their own health - Threats: ● Vietnam joins the world economic organizations, this means that the tax rate will be reduced, consumer tastes will be affected by imported instant noodles ● Competitors regularly launch new ads that catch up with trends and hit the target customers with the same segment ● The competition is fiercer than ever because there are so many rival companies appearing in the market ● Faced with counterfeit products that affect the product's brand image c Competitive analysis - Domestic market : Compare products with other competitors: 0 ● + + + + ❖ Strengths of brands Acecook : Acecook has a diverse and rich set of products, meeting the current consumption needs of consumers Short, easy-to-remember trademarks "Good", impressing consumers Japanese standard instant noodle products, international standard control process Each product is tested according to international standard food safety and hygiene procedures before being packaged to consumers The taste of Hao Hao noodles with sour and spicy shrimp is suitable for the taste of Vietnamese people, and is loved, so the consumption of noodles is very large ● Omachi noodles (Massan company) + High price group (5000-6000vnd) high-priced instant noodle products are gradually occupying an important position in the entire instant noodle market + Omachi is a strong brand in the instant noodle market in Vietnam With new Japanese technology (processing noodles from potatoes), especially has left an impression in the hearts of Vietnamese consumers with the message "delicious without fear of heat" On the other hand, Omachi invests a lot in advertising , beautiful packaging, diverse products, dense distribution channels in stores, supermarkets + So even though Omachi's price is higher than the price of Hao Hao noodles, when the product was first launched on the market, Omachi already had a large number of customers + Extensive distribution and agent system: Currently, Omachi products are distributed together with Chinsu products' system ● Mien noodles (Product of UNIBEN company) + The company has a product strategy with goals of diversifying products, providing high quality products to serve consumers with reasonable prices with the income of Vietnamese consumers + Each type of product has an eye-catching and easy-to-recognize label and packaging, and a variety of products + The packaging design and brand are bold with tradition and familiar taste + “3 Mien Noodles” is recognized by many users as having brought the taste of Vietnamese cuisine into them to create values that are loved by many users love it and want to stick with it for a long time + Dense distribution channels in stores and supermarkets ❖ Weakness : ● Acecook : - In general, there is no obvious innovation in the product compared to other similar product lines currently available on the instant noodle market - Compared to instant noodles in the high-priced segment, Hao Hao generally 0 has an eye-catching design, and there is little change in packaging over the years in the market, in addition, Hao Hao's advertising has not been invested heavily ● Omachi Noodles: - Causing some skepticism among consumers when it announced that omachi noodles were made from potato fibers, but the company itself did not disclose the percentage of potatoes in cup of noodles This can be called an act of quizzing customers - Omachi noodles are more expensive than Hao Hao, the market is not as open as Hao Hao noodles (rural areas and students are not the target customers of Omachi) - Omachi's promotion strategy "not afraid of heat" is almost only initially trusted by customers because many customers commented that eating omachi noodles is still hot, and not believe in using Omachi anymore Right after Omachi's message, Hao Hao gave birth to Hao Hao green beans with added green bean essence, nutritious and not afraid of heat ● Mien noodles : - The company's new products priced at the same price as Massan's Omachi are considered by consumers as superior products compared to other types of noodles, while UNIBEN's noodles are viewed by people as an average product that has a high level of quality, expensive - The popularity of the product is high but the market share is still insignificant compared to other players in the instant noodle market - Company potential : ❖ Strength : ● Acecook : - Large consumer market - Good quality inspection system, product promotion and product distribution - Professional sales team - Acecook Vietnam continues to be listed in the top "The most chosen instant noodle manufacturer" in Vietnam - Acecook Vietnam currently has nearly 6,000 employees, working in two office groups and office manufacturing The company has 06 branches and 11 factories all over Vietnam Every year, the company serves nearly billion instant noodle products and exports Vietnamese-flavored products such as noodles, vermicelli, pho, instant noodles to more than 35 countries worldwide, contributing to the development of the country's culinary culture ● Omachi Noodles: - Strong and reputable brand in the market, holding a high market share across the country Having clear goals and orientations, owning leading food brands in Vietnam 0 - - Diversifying product categories Net the company's distribution network is very strong, including: distribution centers around the country, with 162 exclusive distributors and 1,628 professional sales staff at 164,000 points of sale nationwide The management team is trained, highly qualified, experienced with the executive board who have worked in multinational companies ● Mien noodles: - Thanks to comprehensive investment to improve the quality and quality of products, Uniben's brands always "keep their style" when pioneering Mien noodles with a rich juice package; added meat is one of the brands been chosen by Vietnamese consumers to buy a lot continuously from 2015 to now with a market share of over 27.5% - Has clear goals and orientations, ranks in the top of fast-moving consumer goods - With 28 years of experience in the noodle industry For more than 10 years in the condiments and beverage industry, the goal of becoming an enterprise leading the trend of products that are beneficial to consumers' health has been and is being supported by Uniben - a well-trained and qualified management team High level of expertise, experience with the management board who have worked in multinational companies - Owns a cooperative distribution system of over 250 agents, 1,000 supermarkets and 150,000 stores nationwide ❖ Weakness : ● - Acecook : Inventory control activities are not tight Personnel are not highly qualified Difficulty in debt recovery Market segmentation of dealers is unclear Unstable distribution system, channel members still contradictory The policies for members in the distribution channel are not attractive ● Omachi Noodles: - The source of input materials is unstable, depending on a number of domestic and foreign raw material suppliers - Business is on the rise, so Massan does not fully focus on instant noodles products - Difficult to compete brand name with instant noodles products at established companies Information about product quality from world advertising Public presentation goes against the actual quality, causing loss of consumer confidence ● Mien Noodles: 0 - Company finance is limited, leading to limited investment in marketing strategy High cost of sales activities make the company have modest profit d Customer analysis - Usage habits: + Consumers are interested in many factors such as convenience, nutritional value of the product, design, packaging Besides, depending on the region, there will be different tastes For example, people in the North tend to use noodles with a frugal taste, harmonious in spices, and people in the South prefer a more sour taste -Target group, age: + Using instant noodles has become an indispensable habit of Vietnamese people with the consumption of 1-3 packs/person/week + Mainly students, students, consumers in rural areas account for a larger proportion than in cities - Personal factors: + Younger customers love eye-catching color products and like to experiment with new things, while older customers not like to be fussy about colors On the contrary, they prefer simplicity and are less persuaded to buy by promotions Therefore, the product packaging color design, as well as product taste will be affected by different ages + The different income levels depending on the occupational group will affect the choice of the price of the product High-income customer groups often not care much about price They put the top priority on product quality, nutrition and convenience While for customers with lower income, price is a particularly important factor Marketing analysis a Market and target customer Target customers: Marketing strategy of Hao Hao noodles to achieve success definitely needs to come up with a specific campaign towards target customers Because this is the key to making Hao Hao Noodles used by many people Students are the biggest target customers of Hao Hao noodles, in addition to children, housewives and office workers, consumers in rural areas account for a larger proportion than in cities Therefore, in order to penetrate the potential market and earn great profits, Hao Hao noodles need to offer a price that is suitable for the pocket of the target customer 10 0 Market Hao Hao noodles are competing with many competitors to gain market share in the market Competitors of Hao Hao Noodles can be classified into the following groups: low-end, mid-level and high-end Some typical competitors of Hao Hao noodles are: Omachi noodles, Tien Vua noodles, Cung Dinh noodles, Noodles in the low price category Along with the mid- and high-priced brands, low-priced instant noodles are still being sold well, especially in the rural market Vifon is an example Although Vifon noodle products are gradually being forgotten in the market, it is still a fierce competitor for Hao Hao noodles Mid-price segment Tien Vua Noodles not use oil to fry over and over again with the message "Protecting the health of the whole family" plus a dense product distribution system, heavily advertised and at a price comparable to the price of Hao Hao noodles Although the product is not as diverse as Hao Hao noodles, but Tien Vua noodles are gradually dominating the noodle market and it is really a strong competitor to Hao Hao noodles Competitors with high price segment Omachi invests a lot in advertising, beautiful packaging, diverse products, dense distribution channels in stores, supermarkets So although Omachi's price is higher than Hao Hao's, when the product is first launched on the market, Omachi already has a large number of customers However, because Omachi noodles are more expensive than Hao Hao noodles, the market is not as wide open as Hao Hao noodles Market share: Hao Hao Noodles: Holding 35.4% market share in volume and 36% in revenue Omachi noodles: Holding 27.9% market share Vifon noodles: Vifon currently holds about 5.4% market share of instant noodles However, with the segment of instant rice-based products, Vifon's market share accounts for 50% Tien Vua Noodles: Holding 26.5% market share b Differential/competitive advantage - Quality: 11 0 + Formed in 1993, after more than 20 years of development, Acecook Vietnam has built a solid success on the basis of modern Japanese technology production with automatic and closed production process and meet the management standards of ISO 9001: 2008, ISO 14001:2004, HACCP, IFS, BRC Entering a new stage of development, Hao Hao Noodles is always committed to bringing quality meals to consumers, safety for employees and sharing community values with society + Hao Hao Noodles is the first type of instant noodles in Vietnam that meets food standards international products - Price: For the main product, Hao Hao instant noodles cost from 3,500 VND to 5,000 VND, so it is the first choice of customers - Innovation: + Hao Hao Noodles is always at the forefront of research and boldly investing in technology new to production To improve product quality, Hao Hao noodles have advanced equipment and production lines from Japan with a closed production line, using modern and automatic equipment and technology All input materials to finished products are controlled 24/24 according to international standards of food hygiene and safety As the instant noodles near the end of the line, the squeegee has been formed and transferred into the packing system Here, raw materials and finished products will undergo a quantitative weighing system, metal detection system, X-ray machine This system will automatically push out the products from the conveyor belt that not meet the weight specifications for the most perfect product - Customer response: Hao Hao Noodles pays great attention to satisfying the taste of customers in order to have the most satisfying products for the Vietnamese people The culinary background of Vietnam capital already very rich and sophisticated, people in every region have a taste to enjoy different Therefore, if it does not diversify products, meet demand It is difficult for each customer group to survive in the long term Because of that, almost every year Hao Hao noodles come out with new product lines Since then, the name Hao Hao noodles, has been the favorite product of all families and all walks of life from workers, students to office workers, all generations of Vietnamese people c Marketing objectives - Continue to expand market share and improve the company's reputation in the market Maximize the target audience, quickly promote the decision to 12 0 buy and use Acecook's Hao Hao instant noodles - Satisfy needs, receive positive feedback, limit negative feedback from customers about Hao Hao instant noodles products d Overall marketing strategy (sales plan) Acecook Vietnam is the leading food brand in Vietnam, with a solid leading position in the market To achieve this success, Acecook has implemented effective 4P Marketing strategies i Strategy and product description ● The product list is diverse and rich And Acecook Vietnam's core product is Hao Hao noodles Since its debut until now, Hao Hao has quickly become popular and become a familiar symbol for all kinds of instant noodles in Vietnam The reason for this huge popularity is because the product is cheap and has a wide variety of flavors ● Along with the current pace of life, people also become busy, in a hurry and have to move often Grasping this, Acecook immediately launched products that are cup noodles and bowl noodles, now consumers can enjoy instant noodles anytime, anywhere, meeting all conditions ● Acecook's products all undergo an international standard quality control process Before packing to reach consumers, each product is tested according to international standards of food safety and hygiene ii Pricing Strategy ● There are many competing brands in the instant noodle market To be able to compete with competitors as well as maintain its No 01 market share, Acecook Vietnam has applied a market penetration pricing strategy ● The goal of this pricing strategy of Acecook Vietnam is to entice customers to try new products, increase market share and have a large number of loyal customers ● And this strategy of Acecook Vietnam is absolutely correct because the target audience is mostly people with normal or low living standards, students, students or rural areas 13 0 ● However, recently Acecook Vietnam has begun to target the higher-end segment, they have launched high-priced product models packaged in luxury packaging iii Advertising strategy ● This brand has advertised its products on TV channels such as HTV7, HTV9 or radio advertising, etc ● Besides, Acecook also advertises products through advertising posters on busy streets or on websites ● One of Acecook Vietnam's most successful marketing campaigns is the "From Vietnam to the world" campaign in conjunction with the Vietnam U23 team in 2018 ● Promotions For example, the program to give away Gift Vouchers for any trip, Suzuki GSX - R150 motorbike, Phone scratch card, ● Social activities: - Acecook also promotes social activities aimed at poor workers such as the program "Tet reunion" every Tet holiday - Coordinating and organizing the program of Tet holiday together In order to support 2,500 free bus tickets to bring students and people with difficult circumstances from Ho Chi Minh City to their hometown to celebrate Tet - Acecook has organized many annual scholarship programs for the young generation As of 2020, there have been seasons of scholarships awarded by Acecook Vietnam to 560 students with difficult circumstances and remarkable academic achievements across the country iv Location/distribution strategy ● Acecook currently has more than 11 factories across the country, operating under a closed and automatic chain system ● These Acecook products are marketed and distributed nationwide from small to large dealers and spread throughout the provinces/cities in Vietnam, each major city/region has a branch office such as Hanoi, Ho Chi Minh City, Da Nang, etc ● Acecook has created a nationwide marketing and distribution system with more than 700 tier-one agents spread throughout the country 14 0 ● With the desire to expand distribution points to provide customers with the best, Acecook occupies over 95% of retail points nationwide ● In addition, Acecook Vietnam Company also promotes consumption and exports to more than 46 countries and territories around the world Recommendation When building Acecook's Marketing strategy to bring high efficiency, it is necessary to give some recommendations to overcome the disadvantages of the Marketing strategy: - Strengthening market research: An important factor to connect consumers with products is potential market research Expand the market, reduce costs, increase sales, improve product quality reputation - Brand’s image and slogan After the 2015 revision, Acecook's image and slogan used here haven't really left a deep impression or stood out compared to other products on the market Maybe consider changing the slogan to make a deep impression on customers - Product: Invest heavily in research to launch new products: building survey forms; conduct consumer surveys, thereby evaluating, researching and coming up with new products that are suitable for consumers' tastes With the changing needs of customers, it is necessary to continuously bring to the market new products rich in taste, product quality, increase product volume and healthy products to satisfy demand of customers - Developing customer care service Customer service plays a huge role in the success of a product Therefore, in order to create a long-term foothold in the hearts of consumers, it is necessary to develop maximum customer care services to retain customers to use the product for the longest time https://acecookvietnam.vn/ https://rubicmarketing.com/chien-luoc-marketing-cua-acecook.html https://amis.misa.vn/29261/chien-luoc-marketing-cua-mi-hao-hao/ 15 0 ... summary 3 Company description, mission, vision, focus Situation analysis a Company SWOT analysis b Product/service SWOT analysis c Competitive analysis d Customer analysis 11 Marketing analysis. .. second part includes the company'' s SWOT analysis and SWOT analysis of products/services, competitive analysis and company customer analysis The third part is the analysis of the company'' s marketing,... summary Analysis report on Acecook Vietnam The opening is the description, mission, focus, structure of Acecook Vietnam company; The company was established in 1993, As a long-standing enterprise, Acecook