Alluvia is a vietnamese chocolate brand produced by a closed process from tiengiang cocoa beans, ben tre

NATIONAL ECONOMICS UNIVERSITY SCHOOL OF ADVANCED EDUCATION PROGRAMS Course: International Marketing Class: Marketing Management 63E GROUP NAME STUDENT ID LƯƠNG NGUYỄN MAI KHANH 11219710 NGUYỄN THỊ DIỆU LINH 11219609 NGUYỄN QUỲNH CHI 11211113 NGUYỄN THÀNH LONG 11213546 TRẦN HẢI ĐĂNG 11211240 NGUYỄN LÊ KHÁNH LINH 11213278 Ha Noi, November 2023 TABLE OF CONTENT I Introduction II Home country (Vietnam) situation .4 Political Stability Promotional Activities Export Experience of Alluvia Chocolate Company Alluvia Chocolate’s SWOT Analysis III International Market Selection (IMS) Criterias and Developing Segments Preliminary Screening Fined - grained Screening 10 IV Host country (India) Situation 11 Political Environment 11 1.1 Political System 11 1.2 Import situation of food in India .11 Economic Environment .12 2.1 Exchange rate of Indian rupee (INR) and Vietnam dong (VND) .12 2.2 AIFTA .13 Social Environment 13 3.1 Cultural Features .13 3.2 Cultural Elements 14 3.2.1 Language 14 3.2.2 Manners and Custom 15 3.2.3 Education 15 3.2.4 Attitudes and Value 15 3.2.5 Aesthetics 16 3.3 Hofstede’s Model Analysis .17 3.4 Cultural Dimensions affects Ethical Decision-making .18 Competitors Analysis 19 4.1 Indirect Competitors 19 4.2 Direct Competitors 20 Targeted Customer 21 5.1 Population demographics 21 5.2 Income 22 5.3 Consumer trends 22 V Brand Position 23 VI Marketing Objectives 23 Quantitative Objectives 23 Qualitative Objectives 23 VII Entry Mode 24 Firm size 24 International experience 24 Product characteristic 24 Product differentiation advantage 24 Transaction specific factors .24 Cultural distance 25 Country risk .26 Conclusion 27 VIII Programme Strategy 27 Product 28 1.1 Product Decision .28 1.1.1 Product Portfolio 28 1.1.2 Standardization 28 1.2 Brand Decision 29 Price 30 2.1 Penetration Pricing Strategy 30 2.2 Bundle Pricing Strategy 30 Place 31 3.1 Direct - selling to big retailer 31 3.2 Open Representative Office 32 3.3 E - commerce activities 32 Promotion 32 4.1 One - way Communication .32 4.1.1 Online Newspaper 32 4.1.2 Sales promotions 32 4.2 Two - way Communication 33 4.2.1 Internet Marketing 33 4.2.2 Personal Selling 34 IX Control Marketing Programme 34 Budget 34 1.1 Budget assumptions .34 1.2 Budget Allocation 35 Control Activities 38 CONCLUSION 40 EVALUATE MEMBER’S CONTRIBUTION 41 REFERENCES 42 I Introduction ALLUVIA is a Vietnamese chocolate brand produced by a closed process from Tien Giang cocoa beans, Ben Tre, one of the most delicious nut regions in Vietnam and the world Xuan Ron Cho Gao Cocoa Co., Ltd (Alluvia Chocolate) is the parent company of the ALLUVIA brand, established in 2014, headquartered at No 5, Hoang Dieu Street, Ward 13, District 4, Ho Chi Minh City The company has also carried out many brand promotion activities overseas, such as participating in the chocolate exhibition in Paris, exporting chocolate to Japan, and being a chocolate supplier for Jetstar airline Vision Alluvia’s vision is to promote Mekong Delta chocolate and cocoa, with local natural origins, designed with respect for the environment and fair trade Mission Alluvia's mission is to introduce Vietnamese and gourmets around the world to artisanal chocolates on the banks of the Mekong River Cocoa trees are grown & maintained by local farmers according to international processes and certified by UTZ Product Alluvia's products include bean chocolates, bars, pellets and ice cream, in a variety of flavors such as 70% cocoa, 80% cocoa, cashews, almonds, coconut, coffee, chili peppers and more II Home country (Vietnam) situation Political Stability The political landscape of Vietnam presents an intriguing context for Small and Medium-sized Enterprises (SMEs) seeking to engage in international export activities Characterized by a stable political regime, Vietnam's government exerts substantial control, providing a predictable environment for businesses, including SMEs, to formulate long-term strategies and invest in market expansion Furthermore, Vietnam's active participation in various international trade agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the ASEAN - India Free Trade Agreement (AIFTA), has bestowed significant opportunities upon SMEs for exporting goods and services to global markets Nonetheless, concerns regarding human rights, including freedom of speech and religion, have been expressed by international organizations, potentially affecting the nation's reputation and raising concerns for some enterprises This necessitates a meticulous consideration by companies before entering the international arena In addition, potential alterations to regulations and policies by the Vietnamese government underscore the importance of continuous monitoring of pertinent information and close engagement with governmental bodies to ensure compliance and capitalize on emerging prospects In summary, Vietnam's political situation appears conducive for SMEs venturing into foreign exports, contingent upon a thorough appraisal of the specific business environment and an understanding of the prevailing political and legal challenges and opportunities It is imperative to approach the Vietnamese market with informed deliberation and a proactive stance toward evolving dynamics Promotional Activities In recent years, the Vietnamese government has carried out a series of activities and events to promote the export of agricultural processing products in general, creating opportunities to promote the export sector in general to quickly recover and develop after the COVID pandemic ● To support export businesses in finding outlets in the context of export difficulties, helping Vietnamese businesses participate more deeply in the international supply chain of goods, on August 11, 2023, the Ministry of Industry and Trade organized a Seminar, interview between export businesses in the textile, agricultural and processed food industries, domestic and international experts with international distribution and procurement channels ● The Ministry of Industry and Trade of Vietnam provides market information, trade policies, and export incentives to Vietnamese enterprises that want to enter the Indian market ● The Vietnam Trade Promotion Agency (VIETRADE) facilitates trade promotion activities such as trade missions, trade shows, and online platforms for Vietnamese exporters and Indian importers Export Experience of Alluvia Chocolate Company Alluvia Chocolate, as an experienced SME, has successfully ventured into the Japanese market and actively participated in food exhibitions in France This demonstrates their capability to navigate international markets Therefore, it is prudent for Alluvia to strategically expand its export efforts to additional countries beyond Japan and France Their established track record and expertise can be leveraged to tap into new markets, fostering growth and global recognition for their premium chocolate products Alluvia Chocolate’s SWOT Analysis STRENGTHS WEAKNESSES Standard and Safe Ingredients for Health: Alluvia is known as a chocolate brand using 100% pure cocoa from the fertile Mekong Delta region, cultivated according to international standards and UTZ certified Additionally, Alluvia openly shares its ingredient processing procedures on its official website and emphasizes meticulous handmade processing at each stage This ensures the product's quality and safety Varied Chocolate Flavors May Not Suit Everyone's Taste: While Alluvia is praised for its delicious chocolate flavors, some of its products, such as chili or ginger-flavored chocolates, may be off-putting to certain consumers due to their unconventional ingredients Therefore, these product lines could pose a challenge for consumers who prefer traditional chocolate flavors Unique and Diverse Product Lines In addition to products like Single-Origin Chocolate, filled chocolates, and fruit-covered chocolates, Alluvia also produces a variety of products such as cocoa powder, cocoa beans, chocolate gift boxes, and unique chocolates like ginger or chili-flavored chocolates Customers can easily find chocolates that suit their preferences due to the wide range of options, from mildly sweet to intensely bitter, and various sizes Relatively Young Brand: Alluvia is considered a latecomer in the Vietnamese chocolate market, having been introduced in 2014 It faces intense competition and the possibility of being overshadowed by more established brands with a longer history, such as Legendary Chocolatier Affordable Pricing Another strength of Alluvia is its affordable pricing Despite offering high-quality and delicious products made from pure ingredients, the brand is known for its relatively reasonable prices, ranging from 80,000 to 100,000 VND per product Limited Recognition: Despite opportunities for collaboration with major partners, the Alluvia brand has not yet gained significant recognition in the chocolate market, both domestically and internationally This poses a challenge for a brand with aspirations for international expansion Document continues below Discover more from: International Marketing Đại học Kinh tế Quốc dân 70 documents Go to course 18 De cuong on tap hoc ki lop global success nam hoc 2022 International Marketing 100% (5) [123doc] - bo-cau-hoi-trac-nghiem-marketing-co-dap-an 15 International Marketing 100% (5) UK Pestle Analysis 68 International Marketing 100% (2) MKT asm - Individual assignment for Fentimans case 11 International Marketing 100% (2) Discuss the market segmentation of Samsung 18 120 International Marketing 100% (2) 123doc xay dung chien luoc tham nhap thi truong eu cho cong ty hai san 404 pdf International Marketing 100% (2) OPPORTUNITIES THREATS International Expansion: Entering new markets offers the potential for significant growth, especially in regions with a growing appetite for chocolate products Competitive Landscape: Established competitors in the target markets may pose a challenge in terms of market share and customer loyalty Global Trend Towards Premium Chocolate: The worldwide shift towards premium and artisanal chocolates presents an opportunity for the company to showcase its quality products Regulatory Hurdles: Complying with different international regulations, including import/export requirements and food safety standards, can be cumbersome E-commerce: The growth of online shopping provides a platform for reaching international customers without the need for physical stores in every market Currency Fluctuations: Exchange rate fluctuations can impact pricing and profitability Based on the SWOT analysis, the company needs to undertake several strategic actions to leverage its strengths, address its weaknesses, capitalize on opportunities, and mitigate threats when exporting its chocolate products to other countries: QualityAssuranceandCompliance: Ensure stringent quality control and compliance with international regulations and food safety standards This includes maintaining certifications and adapting product labeling and packaging as required by each market Cultural Adaptation: Customize marketing and branding strategies to resonate with the local culture and values This may involve adapting advertising campaigns and product messaging Economic Monitoring: Keep a close eye on economic conditions in target markets and be prepared to adjust pricing and marketing strategies accordingly during economic downturns or upturns Marketing and Promotion: Create a strong international marketing strategy that focuses on the company's brand, quality, and uniqueness in the premium chocolate market Utilize digital marketing and social media to reach a global audience TradeShowsandExhibitions: Continue participation in international exhibitions and trade shows to showcase products, build brand awareness, and connect with potential partners and distributors E-commerce Expansion: Embrace e-commerce as a platform for international sales, ensuring a user-friendly online shopping experience, secure payment options, and efficient logistics Overall, the company should adopt a flexible and market-specific approach, recognizing that each target market may require unique strategies Successful international expansion will depend on a combination of adaptation, quality assurance, and strategic partnerships while effectively navigating potential challenges III International Market Selection (IMS) Based on the criteria outlined in Svend Hollensen's Global Marketing textbook, the key factors used to segment international markets are divided into the following groups: market potential and market competition Criterias and Developing Segments In the process of market research, our research team conducted an investigation into information from market research companies regarding countries in the Asia-Pacific region with the highest growth potential for the chocolate market According to Mordor Intelligence, a reputable market research company based in India, there are six markets in the Asia-Pacific region that show the most promising growth potential for the chocolate product category These markets include Australia, Japan, Indonesia, India, China, and South Korea Knock - out criteria With the aim of entering a new market, Alluvia, as a small business, will focus on finding a niche and limiting intense competition and confrontation Therefore, countries that are already involved in cocoa cultivation and chocolate exports will be excluded from consideration In this case, Japan will be removed from the list due to prior presence in the market, and Indonesia will also be eliminated for its involvement in cocoa cultivation and chocolate exports Screening Criteria In general, the factors within the market potential group will be primarily used for market segmentation These factors include economic factors, political factors, and language Specific criteria will be developed based on Svend Hollensen's Global Marketing textbook Preliminary Screening In this section, the group uses political, economic, and linguistic factors to evaluate four countries: India, China, Australia, and South Korea A rating scale from to is used for the assessment The total weight is 1, and the maximum score is The table below illustrates how the scoring is calculated for each factor Preliminary Screening Score Weight Source Political stability 0.3 - 2.5