(Tiểu luận) topic sales planning for tra phong form 10 2023 to 03 2024

NATIONAL ECONOMICS UNIVERSITY ADVANCED ENGLISH PROGRAM *** GROUP ASSIGNMENT Subject: Sales Management Topic: Sales planning for Tra Phong form 10/2023 to 03/2024 Group Nguyễn Thị Bằng An – 11219633 Nguyễn Thị Lan Anh – 11219655 Nguyễn Thị Nguyệt Ánh – 11210871 Trần Minh Anh – 11210770 Nguyễn Thu Ngân – 11214223 Nguyễn Thùy Dương – 11211611 Teacher: Mrs Đinh Vân Oanh Hà Nội – 2023 TABLE OF CONTENTS LIST OF FIGURES LIST OF TABLES A SALE PLANNING PROCESS I Review historical performance Industry environment a Industry scale b Market conditions c Competitor Tra Phong overview a Business model b Products c Market trends (sale volumes, sale values, market share) d Sales Strategies e Distribution and techniques f Customer II State key assumptions Market size Market dynamics Customer Spend and Price Competitor activity Organization changes III Clarify goals and objectives IV Plan strategies Account targeting strategy Relationship strategy Selling strategy Sales channel strategy V Prepare forecasts and budget 4 4 6 10 12 12 13 13 14 15 16 17 19 19 20 20 21 22 23 25 Prepare forecasts Budget VI Develop specific tactics 25 26 26 Objectives Product Price Promotion Place VII Monitor performance 26 27 28 28 32 33 Analyses of market share Monitoring profitability of sales activity Monitoring salesperson performance Analyses of the sales plan in relation to market and competitive environment VIII Corrective action adjustment 33 33 34 34 35 LIST OF FIGURES No Name Content Page Figure IPOS Vietnam report on culinary business market in Vietnam in 2022 Figure Statista Report: Revenue of Tea distribution Figure Spending levels of young people (iPOS.vn survey) Figure Tra Phong’s logo Figure Tra Phong’s Products Figure Top 10 best-selling goods in August at Nguyen Hong facility Figure August sales statistics by day at Nguyen Hong facility Figure Sales statistical report from January 2023 - August 2023 at Nguyen Hong facility 9 Figure Tra Phong’s sales promotions 11 10 Figure 10 Tra Phong’s sales promotions 11 11 Figure 11 Tra Phong's current distribution channel 12 12 Figure 12 Map of Ba Dinh District 13 13 Figure 13 Thanh Cong dormitory and Nguyen Hong dormitory 14 14 Figure 14 New packaging for Tra Phong 28 15 Figure 15 Current look of Tra Phong’s drinks 29 16 Figure 16 New look of Tra Phong’s drinks 29 17 Figure 17 Combo buy get of Tra Phong 29 18 Figure 18 Tiktoker’s account specializing in reviewing eating places 30 19 Figure 19 Tea making workshop by Tra Phong 31 20 Figure 20 New drink on Christmas Eve 32 LIST OF TABLES No Name Content Page Table Customer segment of Tra Phong Table Goals and objectives of Tra Phong from 10/2023 03/2024 Table Account targeting strategy of Tra Phong 20-21 Table Relationship strategy of Tra Phong 21-22 Table Selling strategy of Tra Phong 22-23 Table Sale channel strategy of Tra Phong 23-25 Table Estimated budget Table Corrective action adjustment of Tra Phong 15-16 20 26 35-36 A SALE PLANNING PROCESS I Review historical performance Industry environment a Industry scale Vietnam's F&B industry market is experiencing a significant recovery after Covid-19 Specifically, Vietnam had about 338,600 restaurants in 2022, with an annual growth rate of about 2% in the period 2016 - 2022, with the scale of F&B industry revenue increasing by an impressive 39% compared to 2021, up to nearly 610 trillion, exceeding the pre-epidemic level and forecast to reach million billion VND by 2026 Figure 1: IPOS Vietnam report on culinary business market in Vietnam in 2022 Figure 2: Statista Report: Revenue of Tea distribution According to a Statista report, revenue in the Tea segment amounts to USD 3.10 billion by 2022 The market is expected to grow annually by 5.77% (CAGR 2022-2025) By 2025, 52% of spending and 7% of consumption volume in the Tea segment will be due to out-of-home consumption (e.g at bars and restaurants) Tea in Vietnam is considered to have a lot of development potential thanks to the sustainable and stable source of green tea leaves ⇒ The business of drinks made from high quality tea is increasingly expanding with many big brands such as Highland, Phela, Phuc Long, b Market conditions iPOS.vn's survey shows that despite economic difficulties, young people tend to spend more Among them, people aged 23-25 years old are the ones with the highest rate of spending increase Figure 3: Spending levels of young people (iPOS.vn survey) 44.5% of customers are willing to spend from 41,000-70,000 VND for each drink (spending level for mid-range beverage brands such as Highlands Coffee, Phuc Long Coffee & Tea, Katinat Saigon Kafe ) The first half of 2023 also saw the expansion of the popular beverage model According to a survey of 200 diners, up to 39.5% of customers are willing to spend from 21,000-40,000 VND for each drink - this is the spending level for popular beverage brands such as Mixue, ToCoToCo The number of people who frequent coffee 1-2 times per week accounts for the highest proportion at 35% Accordingly, women are more likely to go to cafes 1-2 times a week with 37.4% while this figure for men is 27.5% Document continues below Discover more from: Marketing Mar03 Đại học Kinh tế… 359 documents Go to course BT1 Premium Lsvhvn Thời kỳ 24 65 Bắc thuộc chống… Marketing 100% (2) Cơ Premium hội 2fewfwefwefefwe Marketing 100% (1) Premium Nhóm - Cocoon don/t Marketing 100% (1) Premium Nextrans Startup Industry Report 2022 Marketing 100% (1) Thư mời Tự hào Việt Nam Trường Đại họ… Besides, the dense presence of popular milk tea brands hasMarketing made the flavor of milk None tea no longer unique Therefore, young people today tend to favor specialty cănVietnamese products that are unique and rich in tea flavor In addition to going to cafes to chat and chat with friends, young people today Giải pháp marketing prioritize cafes with quiet spaces to study and work c Competitor 35 dịch vụ logistics tại… Marketing Regarding competitors, Tra Phong faces fierce competition from brands that have None established a foothold in the market, such as The Coffee House, Highlands, bảnPhuc Long, and Trung Nguyen These are big, extensive store networks, providing a variety of beverage options and spacious and comfortable spaces; they have higher recognition than Tra Phong, but the price is still quite high compared to students Mixue: "National milk tea brand" is the nickname that young people give to Mixue a hot destination today with a diverse menu, low prices, and many attractive promotions In particular, there is an extremely large and popular number of Mixue stores, with up to stores within a 1km radius around the Nguyen Hong facility In addition, street and sidewalk lemon tea shops are also popular choices for young people with cheap prices, and friendly to students' budgets However, because the business area is small, the shop's space is limited Tra Phong overview a Business model Tra Phong is a startup project of young intellectuals who are struggling to find a place for tea in an increasingly bustling society The foundation of Tra Phong is the profound knowledge of Vietnamese tea accumulated after many years of working with tea by key personnel Figure 4: Trà Phong’s logo Tra Phong is currently doing business as a small-scale joint stock company with key shareholders specializing in providing packaged tea products and on-site beverage services to customers Currently, Tra Phong is directly involved in the process of producing dry tea, packaging finished products and delivering them to customers Drinks at Tra Phong are also made from self-produced teas After 12 years of operation, Tra Phong has also gained a large number of loyal customers and its own market for its products - Vision: In a market where tea culture is returning, Tra Phong will become a tea brand with its own unique personality and leading reputation - Mission: Tra Phong helps users feel secure when coming to tea by promoting transparency of information about tea in the Vietnamese market and providing products - Core values + Transparency: Products carry clear information + Knowledge: Products developed based on accumulated knowledge about tea and users + Closeness: Friendly corporate culture and easy-to-use products + Original: The product has unique features that can be identified and named + Traditionalization: Focusing on production based on native tea ingredients + Modernalization: Applying scientific knowledge and new methods in tea production and processing b Products Currently, Tra Phong is doing business in two areas: packaged tea products and on-site beverage services However, Tra Phong's core products and services are still the business of tea and coffee drinks at its store system Figure 5:Tra Phong’s Products Tra Phong's tea beverage products are relatively diverse with many types of tea from original, fruit, milk tea to traditional tea Coffee products have recently been developed by Tra Phong to serve more customer needs, so they are not yet diverse Tra Phong's founding team always prioritizes bringing quality tea and coffee products, made from natural and pure ingredients, with rich flavors for customers who are "connoisseurs" of tea and coffee Tra Phong's drinks (except traditional tea) are also reasonably priced compared to the quality of the drinks, the average price ranges from 20,000 - 55,000 (VND) c Market trends (sale volumes, sale values, market share) ❖ Sales volumes and sales values ● Nguyen Hong facility Figure 6: Top 10 best-selling goods in August at Nguyen Hong facility The best-selling product group at offline store is usually products priced from 15,000 VND - 35,000 VND, the shop's most basic products which are lotus and jasmine iced teas and lemon tea are often more popular because of their high availability and taste This product group also has the highest profit margin when the cost of raw materials for a finished cup of drinks only ranges from 3,500 - 7,500 (VND) and the selling price is 15,000 - 20,000 (VND)