Untitled TRƯỜNG ĐẠI HỌC FPT //// MKT 101 PRINCIPLES OF MARKETING Group Projects Summer 2022 Topic Analyze the current 4Ps marketing strategy and make some suggestions for one product Class MKT 1710 Le[.]
TRƯỜNG ĐẠI HỌC FPT //// - MKT 101 PRINCIPLES OF MARKETING Group Projects Summer 2022 Topic: Analyze the current 4Ps marketing strategy and make some suggestions for one product Class: MKT 1710 Lecturer: Lê Thị Việt Hà Student name Student ID Vương Thùy Linh HS 170319 Đặng Mai Linh HE163381 Hoàng Quốc Bảo HE 160180 0 TABLE CONTENT I Introduction 1.1 Short profile of MILO milk……………………… …………… 1.2 Target customer and target market………………….…………… 1.3 Aims: make a research and analyze the current marketing strategy and some suggestions……………………………….……………….… II Analysis of the current 4Ps Marketing strategy 2.1 Product………………………………….………………………… 2.2 Price…………………………………….………………………… 2.3 Place………………………………….…………………………… 2.4 Promotion………………………………….……………………… III Suggestions and conclusion 3.1 Suggestions……………………………….……………………… 3.2 Conclusion ……………………………….……………………… IV References 0 I Introduction 1.1 Short profile of MILO milk Milo is a beverage product of Nestle invented by Australian Thomas Mayne in 1934 Milo is popular in many countries in Asia, America, Europe, Africa and Oceania Produced based on the inspiration of the name of a famous Greek athlete with a combination of parts from milk with malt, chocolate This drink is popular in many countries when using hot or cold milk, but it is modified with hot or cold water with the caption "Add milk or sugar if desired" according to the characteristics of some localities in countries such as Vietnam, Malaysia, India, China, Japan, Nestle joined Vietnam early, in 1912 built its first office in Saigon and has been with the Vietnamese family for more than 100 years In 1998, Nestle established the first company in Dong Nai and started to build a factory Up to now, Nestlé is operating factories, production lines and nearly 2300 employees nationwide With a total investment of more than 600 million USD, Nestlé not only shows commitment to the company's long-term development in Vietnam, but also the desire to improve the quality of life and contribute to a healthier future for customers Vietnamese family generation 1.2 Target customer and target market The target market of Milo dairy products is Europe, America and Asia In particular, Vietnam is one of the potential dairy markets in the future Although the growth rate shows signs of slowing down, the constant innovation and creativity in packaging and quality, etc will help Milo capture a large share of the market In addition, Asians often tend to use imported milk, especially milk brands that are affordable, affordable and convenient This is also a factor 0 that helps Milo easily penetrate and expand their share in the market Milo's target customers Milo milk products are mainly targeted at parents with children aged 614, with low to high incomes With identification right from the start, the product is aimed at parents with children aged 6-14 across the country 1.3 Aims: make a research and analyze the current marketing strategy and some suggestions The Milo brand is a good example of a type of high-tech product, patented and distributed directly to consumers by manufacturers In addition to always trying to everything to build trust and love from customers, Milo always strives to lead or follow the consumer trend of the market, constantly researching and learning to create and meet product needs Milo brand, in addition to powdered milk products, also develops many other products such as instant milk, sandwiches, lozenges, all named Milo and taste similar This helps businesses provide customers with more choices, solving many problems that powdered milk products cannot meet such as convenience and speed Success of product development in Milo's marketing strategy is emphasizing the nutritional value of each product provided to consumers A major reason for Milo's standing in the Malaysian market is the company's commitment that the product can provide enough nutrition and energy for children every day Over the years, the nutrition communication content has gradually improved to meet the growing market demand: a newly introduced milk formula containing ACTIGENE (a set of vitamins and minerals good for the body) and PROTOMALT (barley sprouts), contributing to strengthening the belief from customers that this is really a nutritious and essential product for children 0 II Analysis of the current 4Ps Marketing strategy 2.2 Product 2.1.1 Product Collection Picture 2.1: Collection of products of Milo milk Milo always tries to diversify their products to meet the needs of customers For example, Milo cans with added protein and calcium provide a sustainable source of energy for babies or Milo breakfasts made from milk and cereals help supplement essential nutrients, because the main ingredients are mainly from cocoa, the products are all sweets, can be used directly or easily combined with other ingredients to create a new dish such as Milo shaved ice, Milo milk tea, product line of drinks, also known as liquid milk, for growing children, the brand has focused on developing two main products including: Milo packet drink and Milo can 2.1.2 Product Brand Brand: Nestlé 0 Picture 2.2: Milo's logo With Milo milk products, the company name is red and placed in the same gold frame with the word Milo, the entire Milo milk product line is designed with the same brand in design and color Although the design is simple, it still highlights the Milo brand with the company name on a green background 2.1.3 Product Features To be able to create a difference in products, help compete with other brands Milo Milk has always been famous for its natural ingredients and unique chocolate flavor Made with PROTOMALT® 32% (extract from malted barley, tapioca starch), sugar, skimmed milk powder, cocoa powder, vegetable oil, whey powder, minerals (dicalcium phosphate, disodium phosphate, iron pyrophosphate), butter oil (from milk), glucose syrup, vitamins (vitamin C, niacin, vitamins B6, B2, D, B12), , Milo has always committed quality products and rich in nutrients and energy This is also the distinctive feature as well as outstanding advantage of Milo 2.1.4 Packaging Milo's model is featured with green as the main color, and on the packaging, there are pictures of children playing different sports such as basketball, soccer, creating a dynamic feeling On the other hand, the necessary information such as ingredients, instructions for use, is printed fully and clearly to help buyers easily evaluate products, make purchasing decisions 0 Picture 2.3: Milo's diverse packaging design Milo's packaging is designed in a variety of ways, from boxes to packages, helping buyers to choose the right product In addition, Milo also attracted more users when interested in the design of the straws, with the unique idea of "4-way straws" that made many people unable to stop their curiosity but had to experience it right away Moreover, Milo also introduced to consumers a paper straw for the Milo Breakfast product line in 2020, contributing to a reduction of 6.7 tons of plastic waste, which has helped Milo receive many awards support and enthusiastic responses from many consumers Picture 2.4: Straws are made of eco-friendly paper 2.2 Price 0 2.2.1 Factors that affect the price ➢ Production costs: Nestle in Vietnam has stepped up and expanded the $37 million Milo production line instead of importing it as before Officially in 2005, Milo liquid products were manufactured in Vietnam Therefore, the profit of the firm will also increase due to the savings in import costs ➢ Input resouces costs: Nestlé continuously expands their production scale in Vietnam by building a series of factories to manufacture its product This gives Nestle Milo the advantage of scale, exploiting the experience curve effect and cutting costs, when in Vietnam the costs of resources such as cheap Currently, up to 90% of products that consumers use in Vietnam are produced on-site by Nestle factories ➢ The pressure on Nestle to reduce costs is immense Typically, the Milo product in Vietnam, a 180ml box priced at 11,000 VND, has been replaced by 7,000 VND Compare with Ovaltine milk 180ml: 25,000 VND/lot of boxes, the difference is about 2,500 VND 2.2.2 Pricing Strategies Custumer targets of Milo milk product line is parents with children aged 6-14, from low to high income across the country Therefore, the price of the Milo dairy product line is suitable for the average monthly income of households in Vietnam The difference is not much compared to the price of other product Milo liquid milk 180ml paper box: 27,500 VND/lot of boxes, Milo Balance Breakfast 180ml: 25,000 VND/lot of boxes, Milo less sugar 180ml: 27,500 VND/lot of boxes 2.3 Place 2.3.1 Distribution strategy Because Milo has been presented in Vietnam for a long time and Milo products belong to the category of common consumer goods, Nestlé has applied a mass distribution strategy for Milo's products, helping the products to gain popularity Widely distributed all over the country, Milo can be easily found in supermarkets, convenience stores, grocery stores, 0 Supplier: Nestlé Vietnam Company Retailers Wholesaler Custume rs It can be seen that the company always tries to bring products to consumers in the most convenient way In addition, the wide distribution will help increase the awareness of the product to buyers 2.3.2 Distribution channels The two types of distribution channels used by Nestle are wholesalers and retailers Both channels have many advantages of high order frequency, short shipping time and large customer base In addition, Milo also cooperates with e-commerce platforms such as Tiki, Shopee, and Lazada Thanks to the strong development of information technology, Vietnamese consumers' shopping habits and behaviors have also changed significantly 2.4 Promotion 2.4.1 Advertising Nestle has tried to implement the advertising strategy by strongly hitting the outstanding features and benefits of the product, making customers believe that Milo's products can supplement nutrition, help children be more active 0 Picture 2.5: Marketing program "Năng động Việt Nam" Realizing that today, most parents tend to want their children to focus on learning and achieve good academic results, forgetting that sports play an important role in the all-round development of children Therefore, the marketing campaign for programs "Năng động Việt Nam", “Nhà vô địch thật sự”, “Cảm ơn Mẹ”, have been promoted by the brand through mass media such as television, website, press, Thereby encouraging mothers actively let their children participate in more physical activities Nestle also sends their advertising to consumers in many new and innovative ways, such as with interactive video technology in department stores and supermarkets and through projection screens or posters, stands hanging in grocery stores Picture 2.6: 3D projector at supermarket system In addition, the company has also invested in outdoor advertising by placing large billboards on crowded streets 0 Picture 2.7: Billboard, panel of Milo 2.4.2 Promotion Milo has run promotions in many different forms Customers will receive learning kits and toys when purchasing products In addition, in convenience stores or supermarkets, when buying Milo brand products at the specified price, the buyer will receive additional vouchers, or when buying with other products, they will receive a discount Picture 2.8: Gifts when buying Milo milk 2.4.3 Public Relations Nestlé is always mentioned as a brand that always pays attention to the health of children Nestlé's campaigns always aim to help children develop as fully as possible In particular, Milo and youth sports organizations create sports events, which are considered a useful and professional playground with careful investment from the brand There, Milo products are on display and free drinks for all who participate This is an effective way in re-affirming the brand with products associated with sports and fitness activities, creating a favorable look from 10 0 customers Picture 2.9: Program "Milo - Hành trình lượng xanh" Milo organized the walking companion program "Milo - Hành trình lượng xanh", the event attracted about 10,000 people, mainly students, teachers and parents from primary schools in the capital city Hanoi capital In addition, the event also had the famous athletes, artists and experts in child education and nutrition such as MC Thanh Bach, player Cong Vinh, etc The program used all funds donated by Milo brand and from the sale of souvenirs at the event to equip to schools with sports equipment, specifically giving away 100 more exercise standard equipment sports for 20 schools in Hanoi III Suggestions and conclusion 3.1 Suggestions 3.1.1 Product - Milo's flavor is not yet diverse, so create more flavors to avoid boring customers - Should make anti-counterfeiting stamps on the product so that buyers can distinguish, or should guide customers on how to distinguish genuine products - Should have more effective nutrients to help increase height because Milo milk products are now known as nutritional and energy supplements for children 3.1.2 Price 11 0 There should be uniform pricing at all points of sale A line of Milo milk is sold at many different prices in different locations, making buyers feel that the price is not clear and cannot avoid comparing prices and compare with other milk brands 3.1.3 Place Open more stores that display Milo's products fully and have a consultant to introduce products, this helps customers to visit and choose products easily as well as understand more about Milo 3.1.4 Promotion - Invite more KOLs, Influencers with suitable images to represent - Organize more trial sessions at supermarkets, events, to introduce new products or products that are not known to many people 3.2 Conclusion IV References https://demohappylive.1990.agency/milo-xay-thuong-hieu-bang-cac-quang-caongoai-troi/ https://tuoitre.vn/10000-nguoi-tham-gia-chuong-trinh-di-bo-dong-hanh-milohanh-trinh-nang-luong-xanh-2015-746607.htm https://amis.misa.vn/30102/chien-luoc-marketing-4p-cua-milo/ 12 0 13 0 14 0 ... customer and target market………………….…………… 1.3 Aims: make a research and analyze the current marketing strategy and some suggestions? ??…………………………….……………….… II Analysis of the current 4Ps Marketing strategy. .. from the start, the product is aimed at parents with children aged 6-14 across the country 1.3 Aims: make a research and analyze the current marketing strategy and some suggestions The Milo brand... really a nutritious and essential product for children 0 II Analysis of the current 4Ps Marketing strategy 2.2 Product 2.1.1 Product Collection Picture 2.1: Collection of products of Milo milk