Report progress mkt328mtocotoco thạch hòa

REPORT PROGRESS MKT328m Lecturer: Tran Vi Anh TOCOTOCO THẠCH HÒA GROUP Team members: Nguyen Quynh Nga - HS163458 Nguyen Cong Manh - HE 164050 Nguyen Thi Ngoc Anh - HS163480 Nguyen Quang Huy - HS163488 Vu Ngoc Huyen - HS163460 TABLE OF CONTENT I Executive Summary II Introduction A Client/Brand Analysis Its business model and strategy for growth Its online presence (website traffic trends, social platforms) Its customers (with numbers, segments, demographics, etc.) Any trends in customer purchasing patterns B Key marketing communication problem(s) to be solved Secondary research Primary research Customer insights and current issues C Customer's Journey D Key strategic campaign decisions Owned media (Social Media) Campaign objectives and KPIs 3 11 17 18 18 18 19 21 22 23 23 24 IV Campaign Analysis A Channel strategy B Budgeting C Evaluation of effectiveness 27 27 27 28 V Recommendations and Conclusions Recommendation Conclusion 29 29 29 VI References 30 I Executive Summary TocoToco Thach Hoa has gradually affirmed its position in the choice of milk tea of FPT Hanoi university students, F School students with its own advantages and reasonable prices Here, they offer milk tea with many interesting flavors, unique pearls but with guaranteed quality and fresh ingredients from seasonal regional specialties The ability to saturate the milk tea market in particular and junk food in general makes it easy to reach or become the top of mind of target customers Besides, with direct competitors such as Highlands Coffee at FPT University's canteen, Mixue, Dodo, TocoToco Thach Hoa chooses its own and solid path when there are special offers on holidays with vouchers up to 30% At the same time, sponsoring many events at FPT University Hanoi to have official booths and convenient locations to reach students Not only that, but with the habit and priority of customers who are students with not too high income but high frequency of drinking milk tea, reasonable price, TocoToco Thach Hoa is an extremely good choice Therefore, we analyzed and collaborated with TocoToco owner Thach Hoa to deploy many plans and articles on the official fanpage to reach more people, attract and sell effectively, spread high and achieve expectations, and set KPIs II Introduction A Client/Brand Analysis Its business model and strategy for growth a About Company ToCoToCo is a franchised milk tea brand belonging to Taco Trading & Service Co., Ltd., established on 11/12/2013 ToCoToCo carries the mission of becoming a pure Vietnamese milk tea brand Since its establishment, ToCoToCo has become a must-try milk tea brand for young people nationwide Up to now, the company has nearly 500 stores, of which there are nearly 400 franchised stores TocoToco Thach Hoa is a franchised branch store in Hanoi, established on August 28, 2022 The shop has an address at: Lane next to the gas station 39 ( Quynh Le boarding-house) - Thach Hoa - Thach That - Hanoi ● Mission: At TocoToco, we are committed to bringing our customers the most delicious and safe milk tea ● Vision: Bringing in the passion and desire to build a pure Vietnamese milk tea brand with a strong hometown flavor Tocotoco is always dedicated to exploiting Vietnamese agricultural products to create fresh, safe, and nutritious drinks Tocotoco uses ingredients from available sources in Vietnam (such as Moc Chau tea, Nghe An tapioca, and Da Lat mulberry jam), which are both clean and quality ● Products: Entering the ToCoToCo milk tea chain, you will be overwhelmed by the super diverse menu, divided into main groups ToCoToCo has a milk tea menu (14 types), a macchiato cream cheese menu (7 types), fruit tea (6 types), and flexible yogurt (3 types) There are also a wide variety of products in different flavors and colors ● - b Two sets of self-identities Self-assessment Who you think you are? Tocotoco Thach Hoa is a milk tea branch of Taco Trading and Service Co., Ltd., established on August 28, 2022 With the slogan "Fresh Is Attitude", TocoToco Thach Hoa always wants to bring customers the best and freshest products and services Therefore, the source of materials from tea, jellies, and pearls are all homemade by the restaurant from natural ingredients and ensure the health of users Tocotoco Thach Hoa has an extremely rich menu, from milk tea to fruit tea, black tea, green tea and even mousse with all kinds of toppings at not small prices A full cup of milk tea only ranges from 35 - 42k, enough for customers to not need to drink and feel secure Who you want to be? Tocotoco aims to be the leading retail brand of milk tea and beverage in Thach Hoa and Thach That TocoToco Thach Hoa will always be one of the addresses chosen by young people in Thach Hoa and Thach That areas Priority choice whenever you want to sip a cup of milk tea, chat with friends, … Determine your relative position in a given market On August 28, 2022, Toco Thach Hoa opened, becoming a new choice for FPT Hanoi university students and FSchool students, for delicious milk tea, reasonable price and direct competition with Mixue Thach Hoa, Do Do milk tea, Milk tea shops on FU-Hoa Lac, Highlands coffee, From 11/10/2022 TocoToco Thach Hoa is the silver sponsor for the Marketing contest of FPT University Hanoi - Biz Case and launched attractive 30% vouchers for students and brought huge revenue… and got their attention high with creative content uploads on Facebook From October 25, 2022, TocoToco Thach Hoa became a diamond sponsor for the Halloween event of FPT University Hanoi with a voucher of 30% and free upsize, instant supply of fresh milk tea at the point of sale and delivery to class for students and currently, on October 27, 2022, has increased the total number of orders/day; week, With the milk tea line that competes directly, Highlands has a store right in the school, but the vouchers often have very little discount compared to its high price, so Toco has been very successful in hitting the mentality of prioritizing cheap but similar quality equivalents of FPT students and F school students How big is the overall market of your products or services? Nowadays, Milk Tea is one of the most popular drinks among young people with a variety of colors and flavors ToCoToCo's business form is to develop a franchised milk tea chain Currently, the brand has built a chain of stores that supply most of the demand for milk tea in many provinces/cities The ToCoToCo milk tea shop system is spread across the country and even in Hanoi For TocoToco Thach Hoa alone, the market that the store targets is the majority of students, students and young people in the area of Thach Hoa, Thach That - Hoa Lac, Hanoi Like traditional beverage stores, TocoToco Thach Hoa still focuses on direct sales, which can be used at the shop and can be purchased in the form of take away In addition, the store's revenue accounts for most of its online sales, through social media posts, store pages and sales websites Who are your competitors? Currently, the three strongest opponents of Tocotoco Thach Hoa are Mixue Thach Hoa, Highland FPT and Do Do Thach Hoa Milk Tea + MIXUE Thach Hoa is a Taiwanese milk tea brand that has been in operation since August 2022 In the past months, this brand has penetrated into Thach Hoa and created a big fever among students addicted to milk tea in Hoa Lac Since the beginning of January 2021, milk tea has landed in Hoa Lac more and more and has caused a fever in the past months There are many milk tea brands in Thach Hoa, but MIXUE still retains its position in the top brands with a large number of fans + Highland coffee FPT University: Highland coffee has long carried the message "Pride of Vietnam" Highland coffee shop with a prime location is at canteen in FPT University This is a location that attracts a large number of visitors from students and lecturers at FPT University Hanoi + Do Do Milk Tea: Do Do Thach Hoa has been in operation since September 2022, although it has only just entered the milk tea world in Thach Hoa, Do Do is still quite popular with young people because of its relatively low price (only from 20 to 20 minutes) 25k/1 cup of milk tea) In addition, Do Do is also famous recently because on TikTok, Facebook or Instagram, many popular food bloggers and young people all show great interest in this long-lasting Mochi milk tea, strangely delicious, especially delicious It's super cheap and most people will come back to buy it What differentiates your products and brands from those offered by your competitors? Tocotoco is proud to be a pure Vietnamese brand with a strong hometown flavor ToCoToCo store believes that enjoying a cup of milk tea made from Moc Chau tea, pearls from Nghe An tapioca or mulberry jam from Da Lat, With milk, TocoToco does not use fresh milk or condensed milk, but milk flour is imported from the world's big dairy farms such as: Netherlands, New Zealand => Good input materials, so the price is slightly higher All input and output materials as well as processing processes must ensure uniform quality and be tested for product quality according to the correct process to produce a delicious cup of milk tea TocoToco promotes brand development but still ensures food hygiene and safety, this business pays great attention to self-inspection, and inspectors discover that establishments and agents not ensure hygiene and safety food as the case: Feeling Tea… so TocoToco Thach Hoa has always asserted its position in its market ● In the eyes of others - Customer + According to customers who have experienced drinks at TocoToco Thach Hoa in particular and Toco in many places in general, there are posts on review forums, on VinID, on Facebook groups about food and drinks, TocoToco Thach Hoa is rated as having the best taste Sweet, creative and delicious pearls with stable quality and more affordable price than many milk tea brands on the market today + With strong natural flavor, moderate sweetness, elegant and cool, fruit tea is the perfect choice for hot summer days And especially there are warm milk tea lines for the winter that make the girls extremely impressed (Delicious Milk Tea Blog VinID, 2020) + Being the first pure Vietnamese milk tea brand in Vietnam with ingredients directly from tea tops, strawberries, fresh milk, sweet mango, in specialty areas across the country, it is highly appreciated That is why Toco Thach Hoa in particular and Toco in general have won many prestigious awards, the first choice of students, office workers and students in many parts of the country (Foodi.com.vn, 2022) + Good prices, and often sales, discounts, gift vouchers for customers or free upsize have made the rating level of TocoToco Thach Hoa loyal customer's satisfaction scale always at 4.56/5 stars (TocoToco Bubble Tea, 2021) - Employees: + Carefully selected raw materials, safe machinery and food safety assurance, all processes are guaranteed to comply with SOP standards Employees regularly clean machinery periodically and the production process of raw materials must have labor protection such as: Gloves, costumes and masks so as not to affect product quality The production stages are strictly monitored and checked regularly The raw materials are carefully selected and then processed by modern machinery + At the beginning of the shift, all store staff must focus on chanting slogans to raise morale and create the best quality working day Spirit: Solidarity enthusiasm - fun, agile style, attentive, dedicated, close, friendly customers, delicious, clean, fresh products + Customers come to the store, staff smile "TocoToco hello" and say goodbye "TocoToco thank you" when customers leave Uniforms, masks, caps and aprons must all be ready for a standard shift of store employees When mixing, the absolute thing that must not be forgotten is "wash your hands" The equipment used in the preparation process must also comply with regulations Towels are sorted by color for each use, rinse the tool with filtered water before use In particular, employees must comply with the time of semi-finished products (jewelry, pudding ) from 3-4 hours to be destroyed to ensure freshness In particular, to keep the characteristic flavor of tea, green tea after brewing is only used within hours to ensure quality - Communities When searching for the keyword "TocoToco Thach Hoa" on Google, there are 54,100 results related to this keyword Meanwhile, there are many articles about TocoToco by milk tea addicts in Hoa Lac area and all students This is a certificate of TocoToco Thach Hoa that is very interesting to young people as a very famous brand in the milk tea world Especially after the video of 2,3 squids - love Toco very much was posted, TocoToco Thach Hoa also received a lot of very positive comments such as catching trends, music books, cute actors - Investors: As a reputable franchise brand in the F&B field, ToCoToCo is also a pioneer in using Vietnamese agricultural products in every glass of drink and is a rare brand that supplies ingredients that meet ISO 22000 standards With remarkable developments in recent years Over the past years with nearly 500 milk tea shops loved by millions of people, ToCoToCo has constantly innovated and made a difference And loads of great prizes Attractive package of investment and benefits, thanks to this reputation, you already have a loyal customer base, and are also guaranteed a stable source of revenue and profit right from the first days of opening the store The brand also supports bartending training, menu training, operation skills and is responsible for training staff for the store The cost of franchising is VND Thanks to the large demand and consumption, and the wide market, the milk tea franchise business model at ToCoToCo still brings stable profits to investors - Governments According to the provisions of Vietnamese law on opening a milk tea shop, business activities can only be conducted when licensed by a competent state agency All citizens and organizations when doing business need to fully register a certificate of tax registration and business registration For the milk tea business model in particular, in addition to the above two certifications, the house/space lease contract, the certificate of food hygiene and safety, etc are also indispensable procedures Toco has done this very well, so the number of transfer shops opened in good geographical locations is quite fast and Toco Thach Hoa is a good example (TocoToco.com, 2021) - Suppliers With the message "Bold taste of nature - Full taste of happiness", ToCoToCo has chosen to "Vietnamese" milk tea ingredients, specifically using the rich source of agricultural products in the country to create new and unique flavors unique and delicious Experiencing the journey to find quality Vietnamese agricultural products, ToCoToCo is confident in the quality and taste of each cup of milk tea that the brand brings to customers In each drink, ToCoToCo takes advantage of all the essence of nature to bring delicious taste ToCoToCo's team of experts is always patient and consistent, diligently searching for raw materials stretching from the tea hills on the Moc Chau plateau, to the Ninh Binh pineapple farm or to the fruit gardens in all parts of the country to Gives the drink a rich, distinctive flavor At the same time, ToCoToCo's raw material processing process is also strictly controlled Clean agricultural products from units with VietGAP standard farming processes and HACCP-certified factories must pass many rounds of rigorous testing according to the ISO 22000 standard system before being put into processing ToCoToCo is also one of the rare brands in the Vietnamese market that supplies ingredients that meet ISO 22000 standards Its online presence (website traffic trends, social platforms) ● Do you have positive media coverage of your product and company? Because TocoToco is a big milk tea brand So the posts get a lot of attention Especially articles about promotions and new products ● What type of content has been posted? On TocoToco Thach Hoa's official fan page with more than 800 likes, FU Hoa Lac group is the place to buy and sell food online for Hoa Lac students At the same time, it also aims at the student community of Hanoi National University (VNU - Hoa Lac!) Most of the content is related to updating voucher offers on special occasions with customers, introducing new drinks on the menu, following youthful trends to attract the attention of GenZ young people, mini-games ( October 20) interesting with attractive gifts At the same time, being a sponsor of programs and events at FPT University Hanoi to compete directly with Highlands FPT Hanoi, which was quite successful with the following high-interactions typical articles: 10 appropriate marketing strategies to attract new customers, but also creating close relationships with customers, retaining old customers The management system allows managers to interact with customers (classified by behavioral indicators) through connection channels such as Facebook at a cost of dong Not only that, the system also allows you to create orders to automatically send preferential E-voucher codes, create promotions, manage loyal customers, make them feel excited and spend more Strength TocoToco is a big milk tea brand that has a name and a foothold in the Vietnamese market, so it has high brand awareness and is known by many people The needs and preferences of the majority of young people today are milk tea The origin of ingredients is also a distinct strength of this brand There are always many discount programs, and attractive events The menu is diverse, and always updated with seasonal changes Weakness There are no measures to strictly manage the storage system to have a uniformity in the processing process, taste, store space, etc There is a fanpage but the content is not attractive and now uploading articles effectively to increase the reach to more students Not much is known and no effective promotion programs to spread the product message Don't know how to make the most of FPT university student groups (post each FU Hoa Lac, ) Opportunity Threats - TocoToco Thach Hoa's campus is - There are many competing brands located close to two major around such as Do Do, Mixue universities, FPT and VNU, with Thach Hoa, a large number of students - This is a newly opened franchised - High brand awareness, and branch in Thach Hoa => Difficult professional staff to reach regional customers and compete with well-known brands such as Mixue, Highlands, Its customers (with numbers, segments, demographics, etc.) Consumer market Demographics The typical age of TocoToco Thach Hoa customers is between 16-25 years old, belonging to Gen Z This is an extremely dynamic and trending age, young people will tend to drink 15 milk tea every week, After stressful school hours or together sipping a cup of milk tea in gatherings of friends Geographic TocoToco Thach Hoa is popular mainly in Thach That area, especially in Thach Hoa village 3, near gas station 39 Psychological Most of TocoToco Thach Hoa's customers come from schoolchildren and students, so customers' psychology mostly likes promotions, discounts, vouchers or accompanying gifts They are customers who are very susceptible to price fluctuations Behavioral According to the survey we interviewed, about 50% of FPT university students drink milk tea every week, about 1-2 cups/week They often tend to order milk tea online at TocoToco Thach Hoa fanpage and drink the most on weekends or when meeting friends Any trends in customer purchasing patterns The most common buying trend of TocoToco Thach Hoa customers is to buy when there is a preferential voucher Every occasion the store launches attractive vouchers such as 20%, 30%, free upsize , the number of orders increases significantly Moreover, on special holidays such as October 20, and Halloween, young people meet and gather more, so accordingly, the buying trend also increases quite a lot 16 B Key marketing communication problem(s) to be solved Secondary research According to https://marketingai.vn/nghien-cuu-thi-truong-tra-sua-viet-nam/ , the TocoToco milk tea market is becoming hotter than ever Most of the subjects surveyed in the milk tea market research fell in the age group of 18-39, this is the age group with the most frequency of using this product Furthermore, the study was also organized in two major provinces, Hanoi and Ho Chi Minh City According to the reviews of customers in the articles on Fanpage TocoToco Thach Hoa, this is a restaurant with a pretty rich menu, delicious drinks and super enthusiastic staff: Primary research Create a survey on google form with the following questions to understand customer habits, preferences and behaviors: 17 18 ● Customer insights and current issues Customer insights: TocoToco Thach Hoa divides customers into main groups: + Group 1: Under 14 years old - Customers in this group are completely dependent on their parents, unable to be financially independent + Group 2: From 16-22 years old - Mainly students This group of customers is still price sensitive, but already has freedom in purchasing consumer goods + Group 3: From 23-30 years old - Including those who have just started working or have been working for a while This group of customers are completely 19 financially independent, free to consume and still have a preference for F&B foods and drinks TocoToco Thach Hoa mainly focuses on target customers in groups and because these target groups belong to potential customers, tend to have preferences in using beverages, food, and catch up with trends ● Problems that TocoToco Thach Hoa is facing: + Limited customers: The shop's customers are mainly students This is a group of customers with price sensitivity Their purchases are dependent on many external factors + The awareness is not high: As a newly opened store, not many people know and care about it Although the past time has focused on promoting the communication process and running the program, helping to increase the popularity of the restaurant, it is still quite limited + The sales distribution channel is still lacking: Currently, in addition to direct sales at the shop, online purchases account for most of the shop's revenue However, TocoToco Thach Hoa still only exploits orders from the Facebook social networking platform, through the sales page and the sale on university groups such as FU Hoa Lac + Sales posts are not attractive, and have not attracted much attention from viewers Reviews from customers are not too positive: Besides the positive reviews and comments about the shop, products, staff, however, there are still many critical comments, not really objective Comments such as poor service quality, slow response time, some shortcomings in the product, inappropriate prices still make up a small part of customer reviews C Customer's Journey The decision-making process is the method marketers use to identify and track decisions about the customer's buying journey This method helps to analyze the consumer decision-making process from start to finish and it is divided into five distinct stages, all of which are thoroughly researched by marketing executives Problem recognition Information searching Evaluation of alternatives Purchase decision Post-Purchase behavior ● Problem recognition This is the stage where consumers become aware of their needs and wants Example: After coming home from school, you feel thirsty and hot You have a need to drink a glass of water to quench your thirst ● Information searching Information search is the process by which consumers look at sources around to find the right information and data to make informed decisions 20