Marketing management research topic baemin

MINISTRY OF EDUCATION & TRAINING HO CHI MINH CITY UNIVERSITY OF ECONOMICS AND FINANCE MARKETING MANAGEMENT RESEARCH TOPIC: BAEMIN Mentor: Nguyễn Đức Công Participants: Huỳnh Lâm Anh Thư Âu Thị Yến Linh Đỗ Tú Quỳnh Phạm Ngọc Đan Thanh Tăng Ý Ngọc Contents I About BAEMIN: 1.1 History - Overview 1.2 Mission 1.3 Vision 1.4 Core value II Five Forces: 2.1 Competitive 2.2 Suppliers 10 2.3 Substitute 11 2.4 Potential entrants 11 2.5 Customers 12 III Five M’s: 12 3.1 Money 12 3.2 Manpower 13 3.3 Material 14 3.4 Machine 14 3.5 Methods 15 IV Macro: 18 4.1 Pestel 18 4.2 Swot 19 V Market analysis: 23 5.1 Market size 23 5.2 Market growth 24 5.3 Market share 26 5.4 Market brand 27 5.5 Market need 30 5.6 Market demand 30 VI Customer analysis: 32 6.1 Surveys 32 6.2 Customer portrait 35 VII Marketing objectives: .36 7.1 Market coverage 36 7.2 Sales growth 36 7.3 Market share 37 7.4 SMART 38 VIII Segmentation: 39 8.1 Geographics 39 8.2 Demographics 40 8.3 Psychographic 41 8.4 Behavioral 41 IX Targeting: .41 9.1 Variables: 41 9.2 Segment size and growth 42 9.3 Structural Attractiveness 43 X Positioning: 43 10.1 Competitive advantages 43 10.2 Positioning map 45 XI 7P’s Marketing mix for BAEMIN: 46 11.1 Product 46 11.2 Price 48 11.3 Place 49 11.4 People 49 11.5 Process 50 11.6 Physical Evidence 51 11.7 Promotion 54 XII Potential sales: 66 XIII SOURCE: 66 I About BAEMIN: 1.1 History - Overview - BAEMIN (short for Baedal Minjeok) is an application operating in the field of Delivery Food operated by Woowa Brothers Corp Korea BAEMIN officially entered the Vietnamese market in June 2019 after acquiring the food ordering app Vietnammm.com BAEMIN quickly covered Ho Chi Minh City and now has expanded its operations in Hanoi, Hai Phong, - Currently, the General Director of Woowa Brothers Vietnam is Mr Kiwan Ihn, BAEMIN Vietnam Operations Director is Mr Nguyen Loyal Below are the departments, customer support and Driver partner, and restaurant -Worth mentioning, BAEMIN's official appearance in Vietnam now takes place right after the delivery of Hero - Woowa Brothers This has shown that, maybe Delivery Hero is still there, waiting for the opportunity to restart the campaign in the Vietnamese market 1.2 Misson BAEMIN's mission to Vietnam is to "Help people eat well anytime, anywhere" - Mr Kiwan Ihn, Managing Director of Woowa Brothers Vietnam - said “Monetizing Merchant Partners, Customers, as well as Shippers'' and the trust of the community, has always been our number one strategy.” He also emphasized that BAEMIN's mission is "to help people eat well anytime, anywhere" As can be understood from the mission statement, customer experience is the main focus of the company's direction BAEMIN is striving every day to elevate the customer experience to the next level by appreciating their feelings This food tech unicorn believes that with its extraordinary track record in delivering superior customer experiences in Korea, they can succeed again in Vietnam 1.3 Vision In 2010, Woowa Brothers launched the application "Bae-dal-e-min-jok" (abbreviated as BAEMIN) in Korea with the vision "Using the power of Information Technology to develop the transportation industry" restaurant." The birth of this application has created an online food delivery experience with two-way interaction, bringing innovation to the Food Delivery industry After that, BAEMIN continued to develop with a larger vision, which is "Enjoy delicious food where you want." This is the premise for BAEMIN to expand into new areas such as "BAEMIN riders", "BAEMIN kitchen" , "BAEMIN Store", and gradually conquering the position of the favorite "national delivery app" in the Korean market, and entered the name Woowa Brothers into the world's unicorn startup group Since their launch until now, this technology company has constantly evolved its vision Mr Jinwoo Song, Managing Director of BAEMIN Vietnam, once said at the press conference that “In the future, our ambition is to position BAEMIN as an empathetic friend who can help customers have a different style better and more convenient way of life” Has been developed, it stays true to the core purpose of the brand They both provide exceptional palatability for everyone while improving driver and partner satisfaction Therefore, together with the BAEMIN app, the brand has expanded its product lines with 'BAEMIN Riders', 'BAEMIN Kitchen' and 'BAEMIN Store' 1.4 Core value With the mission of "Helping people eat well anytime, anywhere", BAEMIN promises to bring Vietnamese customers the best culinary experiences with just a few simple steps such as: + Choose food: Original quality, taste, clean and tidy product packaging + Special menu: Diverse dishes, excellent dishes, vivid images + Service quality and customer satisfaction: - Make daily menus and constantly update available/out-of-stock dishes on the app to minimize information risk - Fast service speed, careful packaging - Customers are willing to rate the service experience positively, or give feedback + Your favorite dishes are delivered quickly at a very reasonable price + Select the nearest store and place an order II Five Forces: 2.1 Competitive - Ranked 3rd in the online food delivery market, BAEMIN's two biggest competitors are GrabFood and ShopeeFood, respectively The Covid 19 epidemic has increased consumer interest in this form of eating According to the Delivery Service Market Report Vietnam online food 2020 of Reputa- Social Listening Platform, GrabFood is the market leader with 33.38% market share of discussion on social networks, followed by Now with 23.16%, third is now BAEMIN with 21.95% Loship and GoFood accounted for 15.14% and 6.37%, respectively Delivery Service Market Report Vietnam online food 2020 of Reputa- Social Listening Platform BAEMIN's direct and indirect competitors Directly: - GrabFood, ShopeeFood, GoFood, Loship a) Advantages and disadvantages of ShopeeFood: - With the predecessor of Delivery Now, ShopeeFood is the first online food delivery application in Vietnam - Customers can consult restaurant information through comments and reviews of each dish - Number of restaurants Large with more than 62 thousand locations in Ho Chi Minh City and present in 16 different provinces - There are many different payment methods (ATM card, ShopeePay) - Support group booking - There are many promotions Big deal, preferential payment from ShopeePya wallet (Coin refund, free shipping, discount, ) and flash sale of dishes in each time frame - Operates 24/7 - Charges 5,000 VND with orders less than 50,000 VND - The minimum delivery price is 15,000 even though it is 1-3km, although there are many freeship codes, many drivers still prioritize close orders, resulting in a longer order confirmation time - Facing accusations of a policy of pairing orders (Receiving orders from different customers at the same time, the driver will pick up the food at point A, then pick it up at point B about 2-3km away, affecting affecting the quality of the food and increasing the customer's waiting time, the driver discount will not only increase but also decrease.If the driver refuses to pair the order, the driver will be "deducted", reducing the money affecting their benefits The incident has caused customers to have a bad view of ShopeeFood b) Advantages and disadvantages of GrabFood - Simple interface, classified by category (drinks, rice, fried chicken, ) to create convenience for users - Fast delivery speed - There are different forms of payment such as Moca wallet, cash - There are many promotions when paying with Moca wallet, programs associated with many different banks (Sacombank, HDBank, VIB, ) - Good and fast customer care when problems arise with 24/7 support center for customers and drivers - Successful orders can accumulate points to redeem gifts or discount codes applied to other Grab services such as GrabCar, GrabBike - 24/7 operation - Because drivers have the flexibility to choose between "carrying passengers" and "serving food", many drivers will not be equipped with a cooler - Drivers communicate with customers via Grab app instead of direct phone calls, making communication between the two parties sometimes difficult due to unstable call quality through the app, causing inconvenience to customers - GrabFood still displays discount codes even though the order is unsatisfactory, making customers feel disappointed when applying, but it displays the message "Not eligible" and details of the conditions to apply c) Advantages and disadvantages of GoFood - The number of restaurants is rich, many choices for customers - There are many promotions, especially promotions when paying in advance via bank cards - Flexible search engine, just enter the dish name, the application will suggest the right dish you are looking for - Only appear in Hanoi and Ho Chi Minh City - Food pictures are not realistic d) Advantages and disadvantages of Loship - Diverse payment methods, from cash to ATM cards, e-wallets: Momo, Zalopay - A variety of snacks suitable for students and office workers - After confirming the order, the driver will call to confirm and announce that the delivery will be soon very friendly - The number of restaurants is not much - The number of drivers is limited, leading to a long order confirmation time Indirect competitors a) Advantages and disadvantages of eat in restaurant - Many people will not like to stay at home but prefer new and beautiful spaces, so they will go out to eat at restaurants The restaurant will have richer and more detailed menus Especially when done, you will enjoy it while it's still hot - It costs more, sometimes even tax when eating at a restaurant - The staff at the restaurant will serve you wholeheartedly b) Advantages and disadvantages of Home cooking - Cooking at home is very convenient, you will taste it according to your own taste - You will know the origin, quality, the food is really clean or not - Making a delicious meal for your loved one will make you happier - After cooking, it will be very messy, causing lazy to clean up 2.2 Suppliers - Customers: are individuals and organizations wishing to use the food delivery service, use BAEMIN to post notices about the need to use the service - Delivery partner: is a food delivery service provider that uses BAEMIN to connect with customers and restaurants 10 - Human resources management: BAEMIN always cares about developing team structures and skills Every aspect of BAEMIN is clearly motivated to grow to its full potential Because BAEMIN is a fast-growing company, team members will have many opportunities to accelerate While each person is hired for a specific task, their abilities and interests will play a big role in their learning, development,and transfer to other departments BAEMIN also has a youtube channel “BAEMIN Academy '' for training drivers skills BAEMIN provided drivers with intensive training in basic English as well as first-aid instruction.These programs are available on the Youtube platform for drivers to access and learn at any time and from any location, making them extremely accessible and full of essential information and knowledge Besides, BAEMIN’s care and reception of customer comments is also very enthusiastic and thoughtful They are always in a state of readiness to absorb and correct the comments that customers contribute to them to help the brand grow more and more 11.7 Promotion Advertising: BAEMIN is also very talented in designing and making videos introducing the typical dishes of each district and each region and carrying out aggressive promotional activities on both social and OOH (outdoor advertising) Outdoor advertising: BAEMIN's outdoor advertisements attract passersby with witty, short, concise, and emotional invitations The image of the shipper with the familiar mint green tone, BAEMIN directly called the name of the district on the billboard, accompanied by a separate message, for example, "Tan Binh is your house, order it by delivery", "I live in the district" 3, I just walked out and I delivered it", "Go Vap, I know it by heart, I agree with you to deliver" or "Hoan Kiem I know well, it's still delivered in the alley" With the slogan catch the trend, close to the signs In outdoor advertising, BAEMIN has understood the tastes of its target customers, which are young people, and effectively attracts them BAEMIN's message line is loved by many people because of its rhyme and something cute like the way young people today call it "dropping hearing" The naming of each district on the billboard has helped BAEMIN "score" big points for consumers Using advertising messages that are optimized according to the context and each area is one of the outdoor advertising tactics deployed by many brands and achieved high communication efficiency When the trend of 54 personalization is promoted, consumers like to see advertising content that is "relevant" to them, it can be their name, the area they live in, or the content that can be viewed on the Internet change in real time BAEMIN has captured this trend very well and turned it into action through advertising campaigns at the right time and with the right people And when they see large billboards of relevant content, consumers easily share on social networks as a personal pride This is something that brands always want to aim for, because the spread of messages, discussion and sharing is one of the important factors to evaluate the success of a communication campaign In fact, this outdoor advertising campaign of BAEMIN is part of the "localization" strategy that this food delivery application has implemented since entering Vietnam Not long ago, BAEMIN also launched a collection of "Delicious restaurants in our district", which aggregates the best dining addresses by district so that users can easily choose whether to eat in person or order food map via app 55 Sales promotion BAEMIN's way of working is not too different from other food delivery apps like Now, GrabFood You just need to install the BAEMIN app on your device, choose the food, choose the nearest store and then place an order Food can be delivered quickly and the price is also extremely reasonable with BAEMIN promotions happening every day BAEMIN is very sensitive in thinking of special discount programs to enable users to know more about the application and use their services, Especially in the past May and June, BAEMIN has launched Launching a super discount program called "MultiLevel Promotion”: Users when placing any order will receive a maximum of 56 discount codes applied at the same time, making the order cheaper and greatly assist customers in ordering food These discount codes will be promotions from restaurants, payment partners, BAEMIN and finally, special discount codes for special occasions So sometimes customers' orders will be reduced up to 50% compared to the original price Not only that, BAEMIN is also very pleased with customers by allowing the use of many different payment methods, each payment partner with them will support a discount code, helping customers feel more comfortable in the payment process Select payment metho without worrying about the price of the order 57 PR (include Music Marketing) Combine with influencers/kol Combining with influencers/kol combined with Musc Marketing is also BAEMIN's marketing strategy Right from the first campaign "Quan Ngon My District", BAEMIN chose artist Tran Thanh, not anyone else, in the image of a man wearing a black suit, walking around and constantly speaking about the topic of Safe Love or Interesting Love with the video "Should women love safe or love interesting?".Tran Thanh's charming leadership and interesting philosophies intertwined between love and food are what make viewers extremely excited in this combination Tran Thanh x BAEMIN has come up with a unique approach when comparing choosing a lover to choosing a restaurant: safe love is when you are faithful to the restaurant near your home, while interesting love is like the adventure of discovering new places delicious food far away In the role of "love mentor", Tran Thanh persuaded the "sister association" to 58 choose a person who is both safe and interesting, as well as choosing BAEMIN to eat delicious and close food In the campaign "Try a little healthy", BAEMIN again selected KOLs such as Chau Bui, Helly Tong, Emmi Hoang and Hana Giang Anh and also received many positive responses Because these are all famous people with a green lifestyle, care about health, environment, sustainability and standard of the keywords "clean living, eatclean, gym" that BAEMIN wants to aim for The main source of discussion for the campaign came from the "Baby" MV starring Karik and AMEE In addition, articles/videos sharing about healthy foods on KOLs' personal Facebook pages: Chau Bui, Helly Tong, Emmi Hoang and Hana Giang Anh also received many positive responses Notably, BAEMIN grocery also launched a new collection for this campaign Active promotion on social networks has helped BAEMIN's "Try a little healthy" campaign to achieve a fairly high Virality Score of 0.82 59 BAEMIN was a resounding success after three campaigns BAEMIN has reduced uncertainty and perceived risk by providing useful information and advice Customers Psychology and trends have always been well understood by the brand, which has been represented through music and storytelling Campaign 1: “Thử chút healthy” - MV “Em bé” - Amee, Karik After only two weeks, the video had 11 million views and was the top trending YouTubevideo after only three days With the "Baby" campaign, understanding the trend of healthy eating and caring for women's health, BAEMIN realized that, no matter how strong and independent women are, they still want to be "babies" "In the eyes of the person you love 60 Therefore, the brand encourages women to take care of themselves and pursue a healthy lifestyle in accordance with BAEMIN's communication theme The MV makes an impression thanks to the selection of KOLs that match the character's personality: Amee's lover with a cute and gentle personality makes the "in love" Karik want to pamper, love and treat her like a "baby" " Eye-catching images; catchy lyrics; as well as the right insight message of the "sister association" helped "Baby" reach the top of YouTube Trending after only 72 hours of launch Campaign 2: “Ngọt” - JustaTee x Rhymastic x BAEMIN After only two days, the video had achieved million views and was ranked #10 on YouTube's trending list The name of the MV also speaks to the message that BAEMIN wants to convey: "Let every day be a sweet day", BAEMIN wants to express the feelings of women, that no amount of sweetness is enough So, loving words and gestures not need to wait for the big occasion, like cakes, you can eat anytime you like, collaborated with two judges in the Vietnamese Rap village, JustaTee and Rhymastic The highlight of the MV is also in the sweet and yellow color tone that plays a key role throughout the video, creating cheerful and happy nuances and close-up shoots that awaken the viewers' taste buds, making them sink Immerse yourself in a happy space so that "every day is a sweet day" 61 Events - BAEMIN used a “360o Media Hijack “campaign to celebrate its birthday: Everywhere you look, the brand is thanking its three-year-old employees From billboards along the way, LCD screens for elevators, to online newspapers, Facebook or all music applications, etc., there are regular lines of gratitude to BAEMIN to users All as a "total attack" on the face image, the message is taken as the focus of the target 62 63 Thanks to the consistent implementation, all BAEMIN's communication products are sending respect to each user Customers are thanked for every small action, from watching ads while waiting for a red light, opening an app to listening to BAEMIN's music or even skipad habits, etc BAEMIN's 360o Media Hijack campaign is not monotonous, using only one sentence "Thank you for being with BAEMIN for the past 64 years" BAEMIN's marketing team has a unique and subtle variation in each word sent to customers However, the words “thank you” and “last years” are always repeated in each message, showing the consistency and central purpose of the campaign Campaign “Ăn Ở Nhà Cũng Ngon” During the days of COVID-19 pandemic raging, we talk a lot about ways to show our love to the Fatherland without realizing that eating at home is the simplest but most practical action to fulfill our civic duty, co-operation Time to protect the health of yourself and other family members! In addition to limiting contact in accordance with social distancing requirements, eating at home also ensures maximum safety when we are allowed to use personal dishes, spoons and chopsticks Understanding this, BAEMIN - "food delivery specialist" has launched a campaign called "Eating at home is also delicious" to bring diverse culinary experiences to customers, and at the same time join hands to support customers restaurant partners during the Covid-19 season This campaign with the hashtag #anonhacungngon has received a great response from the community Dozens of influential food-bloggers such as Nofoodphobia, Trang Nhim Round, Eat Sap Saigon, Ba Chua Sidewalk, Tebefood, Eatwithmynoreo, Iamfoodtester and hundreds of restaurants and big F&B brands such as Runam Bistro, Phuc Long, Mr .Steak, Maison Marou, Al Fresco's… have joined BAEMIN in bringing this message to millions of customers "Eating at home is also delicious" has made a miracle by reaching the top of the most watchable YouTube ads in recent years, comparable to famous gameshows and movies that are sought after by many audiences It can be said that the message BAEMIN brings has created a positive effect for the community Not only a call during the period of social distancing, BAEMIN also hopes that young people and their families will limit gathering in the street even after the isolation period has ended to ensure the safety of their families each person while the COVID19 epidemic is still raging 65 66 XII Potential sales: XIII REFERENCE: https://techbike.vn/threads/cong-ty-me-cua-BAEMIN-tai-ha-quoc-da-ban-minh-voigia-4-ty-usd-cho-delivery-hero.7736/ https://www.reputa.vn/blog-detail/download-bao-cao-thi-truong-dich-vu-giao-thuc-antruc-tuyen-viet-nam-2020 https://babuki.vn/thi-truong-giao-do-an-truc-tuyen-tai-viet-nam/ https://vir.com.vn/social-distancing-orders-take-toll-on-economic-prospects86505.html https://www.mordorintelligence.com/industry-reports/vietnam-food-service-market 67 https://vietnamcredit.com.vn/news/fb-industry-in-vietnam-2021_14486 https://qandme.net/en/report/vietnam-food-delivery-trend-2020.html https://vietnamnet.vn/en/foreign-businesses-share-vietnams-us40-million-online-foodmarket-815323.html https://igenz.net/chien-luoc-marketing-cua-BAEMIN-tai-viet-nam/? fbclid=IwAR1fQMZoZYfkl42-FtgJayoYFKDWfep77vKIUWLB28iPjiwLT7cs0ZFge4 https://www.studocu.com/vn/document/dai-hoc-quoc-gia-thanh-pho-ho-chiminh/business-administration/marketing-strategies/13559280? fbclid=IwAR1t7fIYWtanbzcIoFm_vT4DWwx0pC8ABoxSq3CjprWnUR8pxRx9FNo 75ZE https://advertisingvietnam.com/BAEMIN-chieu-chuong-nhu-cau-an-uong-cua-khachhang-bang-cam-xuc-l16571 http://m.hanoitimes.vn/would-BAEMIN-overtake-GrabFood-in-vietnam-fooddelivery-app-market-315444.html https://dautuvietnam.com.vn/doanh-nghiep/BAEMIN-va-nhung-tham-vong-tai-thitruong-viet-nam-a11047.html https://www.younetgroup.com/BAEMIN-con-sot-xanh-mint-bat-tai-bat-mat-nhung-cobat-dung-mach-gioi-tre-viet-2/ 68