(Tiểu luận) project 2 develop aninternational marketing planfor an actual company

NATIONAL ECONOMICS UNIVERSITY CENTER FOR ADVANCED EDUCATIONAL PROGRAMS -� - INTERNATIONAL MARKETING h PROJECT 2: DEVELOP AN INTERNATIONAL MARKETING PLAN FOR AN ACTUAL COMPANY TEAM Nguyễn Doanh Tùng - ID: 11208329 Đào Thu An - ID: 11200002 Nguyễn Quỳnh Châu - ID: 11200558 Tạ Quỳnh Phương - ID: 11203221 Trần Khánh Linh - ID: 11205893 Lê Đình Hiếu - ID: 11205288 Hanoi, 2022 TABLE OF CONTENTS BUSINESS INTRODUCTION PROMISING MARKETS FOR CRAFT BEER EXPORT .2 Market attractiveness evaluation .6 Conclusion .8 MARKET ANALYSIS PESTEL analysis External factors: 12 Internal factors 18 MARKET ENTRY MODE .21 PLANNING MARKETING STRATEGY .22 STP analysis 22 Marketing Mix strategy (4P) .23 CONTROL AND EVALUATION .30 REFERENCES 31 h BUSINESS INTRODUCTION iBiero craft beer was born at the end of 2016 with the founder - Founder Do Giang Vinh - A genuine Vietnamese with five sharp passions for craft beer with the desire to ignite a brand: BEST CRAFTS CHOOSE VIETNAM, owned by Vietnamese people, bringing with them the quintessence, taste, and style During a trip with a foreign author when talking about the culture of enjoying beer, they said that Vietnamese people not know how to enjoy and cannot produce delicious beers like in their country even though the amount of beer consumed every year is very high Beer consumption in Vietnam is always at the top of countries that consume the most beer in the world At that moment, Vinh automatically told people that he must make a craft beer that is "the best for Vietnamese people" And so "iBiero - The best craft beer in Vietnam" was born iBiero craft beer products are produced with original beer ingredients such as dried malt and 100% fresh hops imported from Belgium and Australia, as well as exclusive beer recipes from well-known and long-standing craft brewers of Czech Republic, Belgium The brewing process of draft beer is carried out through pasteurization and fermentation to create natural CO2, without the use of preservatives, making iBiero beers safe for health with rich and appealing tastes typical of the tropics h PROMISING MARKETS FOR CRAFT BEER EXPORT According to Statista, in 2021, the craft beer market size of China and the USA were 10.84 billion USD and 26.8 billion USD respectively Craft beer consumption in the USA is 1.150 billion liters, about 15% higher than just one billion liters in China At the same time, beer consumption in Brazil was 10.46 billion liters The craft beer market share of Brazil's overall beer industry is 9% in 2022, and it can be inferred that about 941.4 million liters of craft beer were consumed From the data above, China, the US, and Brazil are the most prominent and potential craft beer markets The table below shows an overview comparison of countries markets: China, the USA, and Brazil China The USA Market Size China craft beer market The market Brazil size, The market makes about marked 10.84 billion USD measured by revenue, $2.42 billion in 2022 in revenue in 2022 of the Craft Beer Production industry is $26.8 billion in 2022 h Conclusion: With a long history and huge community, the USA is still the biggest market for craft breweries, followed by China with the rapid growth in demand for craft beer In Brazil, craft beers are still considered high-end goods, making consumers quite reserved for this product despite Brazil's massive demand for alcoholic drinks Market A couple of years ago, craft The Growth beer made up only 0.3 industry has marked Brazilian craft breweries percent of total craft beer Growth in sales of beer an increase of 5.6% is 40% in 2022 consumption It has since in 2022 risen to about percent in 2022, making 30% growth in craft beer market revenue year-on-year Conclusion: Both Brazil and China show brilliant market growth rates These are both new and promising markets for craft beer Prices - From 25 CNY to 60 CNY - The average price - Approximately BRL for a bottle of 330ml beer of craft beer around for a bottle of 330 ml (around $10.5 - $25.2 per the country is $8 per (around $5.1 per liter) liter) Most craft beers in six-pack, China are imported from about which 2.13 is liters USA and EU countries, so (around $3.75 per prices are higher than the liter) This under- average global craft beer average is due to the price massive quantity of craft breweries in the USA Conclusion: Compared to current Ibiero’s prices, which are about $6.7 per liter, it’s nearly impossible to compete with other craft beer brewers in the USA and Brazil However, compared to Chinese craft beer's average prices, Ibiero can take h a great advantage Buying - China has the biggest craft - According Power beer consumption volume to a - According to in survey of over 2,000 justbeerapp, consumers in Americans conducted Brazil are willing to - Based on a survey on the by C + R Research, spend 36 BRL monthly frequency of craft beer the average American on craft beers (About consumption as of May 2019 between the age of 21 $6.77 per month) by asiabeernetwork, it shows and 70 is spending Brazilians still prefer that 30,15% of consumers $59 per month on industrial beer with occasionally buy craft beers craft brews For men, cheaper prices and more 23,45% responded to drink the average monthly diverse choices craft beers frequently 6,77% cost was $66, while of the surveyees always women spent $50 choose craft beers when it comes to drinks The rest rarely or never buy craft beers - As of May 2019, 57.45% of Chinese consumers polled said that they are willing to pay 25% more than the regular price and 16.8% are willing to pay 50% more Conclusion: Craft beer seems to be a new trend among Chinese beer consumers Many people are willing to spend more money to pay for craft beer which results in the increase in craft beer prices The USA with a long history of craft beers has built a huge community of craft beer lovers with huge purchasing power Competitive Intensity Vancouver-based writer - There are over - There are 30 regional Rick Green's How to Drink 9,000 craft breweries breweries Beer in 400 craft and lists in the US – but big than h around Mandarin beer beer dominates more 1200 microbreweries in producers in China, most of Brazil, which are mainly them are regional brewpubs concentrated in the seven that don't sell their products states of the South and commercially South-East region Conclusion: With the domination of big craft beer brands, the craft beer market in the US is highly competitive Along with that is a rapid rise in the number of craft brewers in Brazil On the contrary, the craft beer market in China is on the way to booming, with many niche markets undiscovered Market - Access advantage when compared different cultures and distance, different culture Ibiero has a price - to the market price of craft the Long distance, - inferiority Long geographical of - It is a federal excise tax Document continues below Discover more from: International Marketing Đại học Kinh tế Quốc dân 70 documents Go to course De cuong on tap hoc ki lop global success nam hoc 2022 18 International Marketing 100% (5) [123doc] - bo-cau-hoi-trac-nghiem-marketing-co-dap-an 15 International Marketing 68 h UK Pestle Analysis 100% (5) International Marketing 100% (2) MKT asm - Individual assignment for Fentimans case 11 International Marketing 100% (2) Discuss the market segmentation of Samsung 18 International Marketing 100% (2) 123doc xay dung chien luoc tham nhap thi truong eu cho 120 cong ty hai san 404 pdf International Marketing 100% (2) beers in China The close product quality make that applies to practically geographical distance and it difficult for IBiero all sales and transfers of similar culture were also to enter this market products made or beneficial for the exporting - The United States imported in Brazil The process - Besides, levies a federal excise IPI the government does not levy an with VAT VAT can range and (5% to 15% on average) excise tax on beer, there is consumption only rate Chinese tax on beer, along between 0% and 300% (17%) consumption tax tax Basic foods are the least and (varying from $0.11 taxed, while alcohol and to $0.58 per gallon cigarettes are the most depending on taxed production, region, and amount) Conclusion: With Ibiero's potential, the Chinese market has the most favorable factors for brands to have access to the market Political / - Political Stability Index: - - Political Stability - Political Stability Index: Economic 0.48 Risks Index: - 0.49 - The Chinese government - Downward trend in - According h has strongly encouraged and beer market share has 9,294/1996, to Law advertising guided the development of been reflected in the alcoholic beverages on the alcohol industry, online ordering and radio or television must resulting in a steady increase alcohol in alcohol production delivery be restricted and only platform Drizly Over aired between pm and the past 12 months, am beer has accounted for a 14% share, a two-percentage point drop from the previous 12 months Conclusion: Although considered to have a low PSI index, the supportive policies of the Chinese government create great advantages for imported beer brewers in China In contrast, the US and Brazilian markets faced economic and policy problems, hindering the beer market and alcoholic beverages in general Market attractiveness evaluation - Newly developed craft beer markets which have fast growth rates and great buying power give great advantages for new brewers, compared to an already saturated market Consumers in these markets are eager to try new brands' products So market growth rate and buying power are important criteria for evaluation - Besides, the larger the market size, the larger the quantity of consumers Prices in each market also show the cost that consumers are willing to pay for a product - Other external factors such as market access, competitive intensity, and Political/Economic risks are also important criteria that need to be evaluated to assess the attractiveness of the market Table China craft beer market attractiveness evaluation Market Attractiveness Poor Very Weight Result (grading x h Very Good Factor weight) 0.15 0.6 Poor Medium Good Market Size Market Growth 0.2 Prices 0.15 0.75 0.2 0.1 0.8 0.4 0.1 0.3 0.1 0.4 4.1 Weight Result (grading x Buying Power Market Access 4 Competitive Intensity Political / Economic Risks Total Table The USA craft beer market attractiveness evaluation Market Attractiveness Very Poor Very Poor Medium Good Market Size Market Growth Factor weight) 0.15 0.2 0.75 0.6 0.1 0.2 0.2 0.1 0.3 0.15 0.15 0.1 0.4 3.4 Very Weight Result (grading x Good Factor weight) 0.15 0.45 Prices Buying Power Market Access Competitive Intensity Good Political / Economic Risks Total Table Brazil craft beer market attractiveness evaluation Very Market Attractiveness Poor Poor Medium Good Market Size Market Growth Prices Buying Power h Market Access Competitive Intensity 0.2 0.1 0.2 0.3 0.2 0.1 0.3 0.15 0.75 0.1 0.4 3.4 Political / Economic Risks Total Conclusion According to the market attractiveness evaluation, by calculating the market with the highest score, China (4.1) will be selected as the target market that Ibiero targets Imported beer is becoming more popular in China, as the Chinese have developed to get access to international Chinese consumers are seeking new products all around the world New flavors are especially appealing to craft brewers and beer enthusiasts - The number of intermediaries available in the China market is various for iBiero to choose However, the rules of each channel are different so the company needs to be careful in choosing which one will be the most suitable Threats: - China is a large industry which leads to a very huge and potential market This market has been attracting a lot of global and domestic firms or corporations Vietnam is just one of many other countries that have to compete with many big beer brands from other big countries like Germany and Belgium The opportunity for having a small piece of cake is not too big iBiero also needs to face the problem of making benefits for both brand’s profits and for the Chinese economy’s growth The company can not immediately compete with other domestic brands and needs to take time - The types of tariffs on alcohol in China are various and they are all different It will be difficult for the company to take care of the tariffs and control the changes of the tariffs’ rate - As the policy in China is not stable, iBiero has to face the effect of the government on taxes for drinks, especially for alcohol EFE matrix: Rating: - No External factors h Weight: 0,0 - 1,0 Weight Rating Weighted scores Opportunities Sociocultural distance between Vietnam 0.05 0.15 and China Population 0.05 0.15 Market trend 0.1 0.4 GDP 0.05 0.15 Consumer’s demands 0.15 0.6 The number of intermediaries available 0.1 0.4 17