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Trang 1 FOREIGN TRADE UNIVERSITY MARKETING AND COMMUNICATION DEPARTMENT***REPORTSubject: Marketing Communication in Digital AgeTopic: Marketing Plan – M.O.I Cosmetic Vietnam*** GROUP 5Ng
FOREIGN TRADE UNIVERSITY MARKETING AND COMMUNICATION DEPARTMENT *** REPORT Subject: Marketing Communication in Digital Age Topic: Marketing Plan – M.O.I Cosmetic Vietnam *** GROUP Ngô Thị Thu Huyền 2105000197 Nguyễn Hải Linh 2205003020 Phan Ngọc Minh 2205003013 Nguyễn Kiều Anh 2305001010 Trần Đức Quốc Bảo 2205003013 Hà Nội, ngày 22/12/2023 TABLE OF CONTENTS CHAPTER 1: INTRODUCTION CHAPTER 2: PROJECT SELECTION CHAPTER 3: A STAKEHOLDER ANALYSIS OF THE PROJECT CHAPTER 4: A PROJECT CHARTER FOR THE PROJECT INTRODUCTION AND BACKGROUND PROJECT’S OBJECTIVES PROJECT’S SCOPE PROJECT’S DELIVERABLES PROJECT’S MILESTONES PROJECT’S APPROACH PROJECT’S CONSTRAINTS CHAPTER 5: A WORK BREAKDOWN STRUCTURE FOR THE PROJECT CHAPTER 6: A RESPONSIBILITY MATRIX CHAPTER 7: THE ESTIMATED BUDGET FOR THE PROJECT CHAPTER 8: DEVELOP AN IN-DEPTH SCHEDULE CHAPTER 9: A PRELIMINARY RISK ANALYSIS CHAPTER 1: INTRODUCTION 11 12 12 13 13 14 14 15 15 16 18 20 20 22 TH Dairy Foods Joint Stock Company was established on February 24, 2009, as the first company of the TH Group with an investment project in industrial dairy farms, modern milk processing technology and methodical distribution system TH Group was established with financial advice from Bac A Commercial Joint Stock Bank In addition to providing financial services and social security activities, Bac A Commercial Joint Stock Bank especially focuses on investing in the milk and food processing industry From that starting point, TH Group is gradually developing to become a leading manufacturer in Vietnam providing clean food products originating from nature, including fresh milk, meat, vegetables and fruits clean, seafood of international quality TH Dairy Food Joint Stock Company has invested in a high- end management system and a closed, synchronous production process according to international standards from growing grass, building barns, processing food for cows, and managing food veterinary treatment, processing and packaging, until product distribution to consumers The barn system applies the most advanced livestock technology in the world Cows are imported from countries famous for dairy farming such as New Zealand, Uruguay, Canada to ensure the best source of dairy cows for the best quality milk Head office: 166 Nguyen Thai Hoc, Quang Trung Ward, Vinh City, Nghe An Province Website: https://www.thmilk.vn Email: chamsockhachhang@thmilk.vn Phone number: 1800.545.440 With the criteria of preserving the essence of nature and providing users with the freshest and cleanest products, TH True Milk specializes in providing product lines made from pure cow's milk sources such as fresh milk, nut milk, yogurt, and cheese roof, Since its inception, TH True Milk has received countless awards and certifications both domestically and internationally Some outstanding achievements of TH True Milk include: In 2019, received a certificate of merit from the Prime Minister for outstanding achievements in implementing Resolution Central 7, term X on agriculture, farmers and rural areas Gold New Product of the Year award at the 2019 Stevie Awards Vietnam Digital Technology Award - Outstanding Digital Technology Application in the field of Agriculture at Vietnam Digital Awards 2018 Best Dairy Farm category at VietStock Awards 2018 Regarding its vision, TH Group wishes to become Vietnam's leading manufacturer in the clean food industry originating from nature With serious and long- term investment combined with the world's most modern technology, we are determined to become a world- class food brand that every home trusts, everyone loves and the nation is proud of Regarding mission, with the spirit of being close to nature, TH Group always tries its best to nurture Vietnamese body and soul by providing food products originating from nature - clean and safe, fresh and nutritious TH Group's product portfolio currently includes TH true MILK sterilized fresh milk products: pure sterilized fresh milk made from 100% fresh cow's milk, low- sugar sterilized fresh milk, sterilized fresh milk with sugar, strawberry flavored sterilized fresh milk, chocolate flavored sterilized fresh milk, In addition to the dairy product line, TH still has other types of products: TH true veg, TH true yogurt, TH true ice cream, TH true cheese, TH true butter, When entering the Vietnamese dairy market, TH True Milk took advantage of the abundant natural resources in Vietnam to filter the most quintessential things from nature and bring clean glasses of milk to people Besides, with the brand "Clean Milk", TH True Milk has succeeded in hitting the psychology of young mothers and in modern times when the environment is increasingly polluted, leading to unsafe food Therefore, the issue of food safety is given top priority and TH Milk has tapped into that psychology of consumers CHAPTER 2: PROJECT SELECTION The first project produces Organic Nut Milk - Nutritional drink for the health of the whole family According to experts, to increase resistance and help the body stay healthy against disease, each individual needs to establish a healthy diet rich in vitamins and minerals for the body Organic Nut Milk is one of the healthiest drinks for the whole family, especially during this pandemic season The product is 100% made from organic nuts containing many valuable nutrients such as oats, almonds, rice, wheat Vitamins and minerals found in nuts are good for heart health, reducing heart disease inflammation, strengthen the immune system, prevent oxidation, slow down the aging process, maintain youthful beauty, prevent the growth of cancer cells Organic Nut Milk has the mild aroma and moderate taste of precious nuts, and has been proven to provide healthy unsaturated fats The second project produces Oat Milk It is an energy supplement for everyone, especially children A glass of milk a day provides many nutrients for your baby At the same time, milk helps replenish energy for babies to function all day long Oat Milk is mainly made from oats and sugar, usually done by soaking and mixing oatmeal with water then filtering them through a layer of cloth to separate the milk Oat Milk is currently popular with many people because it is very good for health, especially for children Oat Milk has nutritional value no less than pure oats A glass of Oat Milk can help supplement important and essential nutrients including potassium, calcium, iron and vitamins A, D, etc Oat Milk is special in that it does not contain many allergens such as in common types of milk on the market today Not only that, Oat Milk also contains beta-glucans, a soluble fiber that has a very good support function for our cardiovascular system The third project produces Organic Rice Milk - Distilled essence from high quality ingredients The "plus point" of organic rice milk is that it does not add refined sugar, giving consumers new, better health options The special product is well received by young women, the "powerful chefs" in every family Organic rice milk offers this generation of active women the most complete solution: A drink that is both healthy for the whole family and convenient for taking care of their own health and beauty Organic rice milk is completely natural, does not contain synthetic chemicals, ensures safety and is good for human health Not only that, with outstanding nutrients from high quality organic Italian rice (Vitamin E, B, Manganese, Phosphorus, Calcium, Carbohydrates, antioxidants, fiber, ), rice milk Organic Natumi is a healthy drink that helps strengthen the body's resistance, provides necessary nutrients, replenishes energy, and can be used regularly every day for family members In addition, the product is supplemented with Lithothamnium Calcareum calcium content of plant origin (seaweed) With just one 200ml glass of rice milk, you have met 30% of your body's daily calcium needs Organic rice milk does not contain cholesterol and is very good for the heart and people with cholesterol problems Not only that, this is a product that does not use refined sugar, only has a mild sweet taste due to the natural fermentation process, suitable even for people with blood sugar problems The product is safe and nutritious, without chemicals or dyes, so it can also be used for young children (over year old) and pregnant women The goal of these project is to introduce the new product by 2025 Our team assigns the precise tasks for every stage of the project by breaking it down into four sections In addition, there are five people on the project team It is our wish that the project will begin with the best outcome Firstly, to use this method, we need to introduce some criteria and subcriteria for comparing The criteria and subcriteria are based on those projects’ general information and background Table Hierarchy of Selection Criteria Choices Hierarchy of Selection Criteria Choices First Level Financial benefit Second Level 1.a: Long- term benefit 1.b: Short- termbenefit Document continues below Discover more Marketing quốc from: tế Trường Đại học… 600 documents Go to course 37 36 37 48 37 Nhóm 10 - MKT401 tiểu luận marketing… Marketing quốc tế 96% (24) NHÓM -tiểu luận marketing quốc tế… Marketing quốc tế 100% (10) Nhóm-6 tiểu luận marketing quốc tế… Marketing quốc tế 100% (10) KẾ HOẠCH Marketing CHUỖI PHÚC LONG… Marketing quốc tế 100% (9) Nhóm - tiểu luận marketing quốc tế… Marketing quốc tế 2.a: Time to get the benefit Contribution to TH True Milk’s goals Course book Introduction to Law… 113 2.b: Satisfying the demands of the Board of Directors (BoD) Marketing quốc tế Operating cost 100% (8) 100% (7) 3.a: The scale of human resources evolving 3.b: Initial cost (machines, factories, supply, etc.) requirement Subsequently, we allocate the weight to each criterion and subcriteria according to the existing state of affairs and the goals of TH True Milk Table Hierarchy of Selection Weighted Criteria Hierarchy of Selection Weighted Criteria Goal (1.0) Financial benefit (0.3) Contribution to TH True Milk’s goals (0.5) b Satisfying the demands of the a Longterm benefit b Shortterm benefit (0.4) (0.6) a Time to get the benefit (0.5) BoD (0.5) Operating cost (0.2) a The scale of HR evolving (0.45) b Initial cost requirement (0.55) Finalizing the Analytical Hierarchy Process involves allocating numerical values to each evaluation dimension in both normal and priority scenarios For that reason, we offer the table below Table Assigning Numerical Values to Dimensions Assigning Numerical Values to Dimensions Nominal Priority Very Poor 0 Poor 0.1 0.05 Neutral 0.4 0.2 Good 0.6 0.3 Excellent 0.9 0.45 Total We can go to the last phase, the project rating spreadsheet, after completing the aforementioned tasks The results utilized in the table below are calculated with respect to the subcriteria's weight in relation to the goal Furthermore, findings in typical conditional (nominal) format are included in the table below To make things easier to read, we'll use "A" for the project Produce Organic Nut Milk, "B" for the project Produce Oat Milk, and "C" for the project Produce Organic Rice Milk To assign criteria and subcriteria, such as Tables and 2, we also utilize the notations "1.", "2.", "3.", "a.," and "b." Table The Project Rating Spreadsheet The Project Rating Spreadsheet Projects Total a 0.12 b 0.18 a 0.25 b 0.25 Excellen t Excellen t a 0.09 b 0.11 A 0.804 B 0.226 C 0.575 Good Excellent Excellen t Poor Very Poor Good Good Neutral Good Good Very Poor Ver y Poor Poor Poor Excellen t Good The Produce Organic Nut Milk project receives the highest score in the Analytical Hierarchy Process results, indicating that it is most advantageous and fit for TH True Milk's current circumstances It has a favorable financial result throughout the long and short terms It satisfies the needs of the Board of Directors and can be finished the earliest of the three projects listed In addition, the Produce Oat Milk and Produce Organic Rice Milk projects have lower initial capital and human resource requirements Financial Model (the Net Present Value) When choosing a project, the financial component is a crucial factor to take into account Therefore, we compare the aforementioned three projects using the Net Present Value technique A successful conclusion in this strategy means that the project will increase the firm's worth in addition to generating revenue The required rate of return and the inflation rate are needed to complete this procedure The weighted average cost of capital (WACC) of TH True Milk, which is 9% in 2022, is used in this research to determine the required rate of return Furthermore, Vietnam's inflation rate in 2022 is 3% As a result, in TH True Milk's current circumstances, the Discounted Rate is 12% For the Produce Organic Nut Milk project, the first investment amount is 100,000 dollars; for the Produce Organic Rice Milk project, it is 250,000 dollars; and so on Additionally, the projected net cash flows for the Produce Organic Nut Milk, Produce It is believed that Organic Nut Milk will be TH True Milk's best decision, making it possible for TH True Milk to gain greater market dominance Investigating vendors and buying the necessary equipment is the initial stage of this undertaking Good quality, minimal time-consuming logistics, and a fair pricing are the prerequisites for suppliers Training the workforce is the focus of the second phase They need to know how to operate the new machinery and combine the milk and seeds Employees that receive proper training will perform smoothly and take fewer risks on the job Functional testing of the completed product and work system constitute the third phase In order to fulfill all deadlines, the work system needs to run smoothly All standards for quality, taste, and appearance must be met by the finished product An advertising campaign and the new product's release constitute the last stage One of the most important factors in the project's success is the marketing effort It creates the product's initial impression on consumers Conversely, the intended market for this product is metropolitan regions, where it will mostly be released PROJECT’S OBJECTIVES In a time frame of 25 to 26 months, develop, produce, and distribute the organic nut milk Twenty percent of the budgeted amount, or $70,00, should not be exceeded PROJECT’S SCOPE Project managers are capable of hiring additional staff members as needed in addition to utilizing the current workforce of other departments A quality test of the goods will be conducted by authorized parties The project team is accountable for food hygiene Project managers are entitled to and accountable for assigning tasks Employees working on the project are momentarily not affiliated with any department within the company Project management have calculated the duration of each work, and the project is scheduled to conclude by June 2025 at the latest PROJECT’S DELIVERABLES Reputable suppliers offer premium seeds at competitive prices, with little logistical expenses The right amount of production-ready machinery Task dangers are eliminated when competent personnel operate the product system An appealing, well-designed packaging that is also practical The best finished goods have a nice taste, a nice package, and they pass every quality test A strong marketing initiative that familiarizes and recalls potential buyers of the new product An effective distribution strategy that allows Organic Nut Milk to be seen in all distributors, particularly in cities PROJECT’S MILESTONES The project has been scheduled, approved, and issued for April 2023 In November 2023, a supply deal was signed As of November 2023, all necessary machinery are fully equipped March of 2024 marks the completion of the training program In August of 2024, the first batch of testing products is manufactured September 2024: The new product receives permission after passing all of its tests April 2025 is the debut month for the marketing campaign The new items are available at all distributors as of May 2025 PROJECT’S APPROACH Assess the market's appetite for the novel offering in order to place orders with the external provider for nut seeds Have a thorough understanding of the procedure involved in producing organic nut milk in order to offer staff training as well as a list of necessary equipment To withdraw for required testing, get in touch with the approved third party When distributing products, make sure the distribution system is properly set up Compute the operations (labor, supply, and production) as well as marketing and sales expenses When producing, marketing, and selling, use as much internal labor as you can PROJECT’S CONSTRAINTS Time: Starting in early April 2023 and ending no later than June 2025 is the deadline for this project Cost: The project's total cost cannot be higher than 20% of the allocated $84,000 Developing, manufacturing, and distributing Organic Nut Milk is the exclusive goal of the initiative There are no other objectives CHAPTER 5: A WORK BREAKDOWN STRUCTURE FOR THE PROJECT The outputs listed in section III are consolidated into three broader ones in this Work Breakdown Structure diagram There are activities to aid in the project's completion inside the many work packages they comprise The Work Breakdown Structure and the Organization Breakdown Structure intersection below are used to allocate costs and personnel responsibilities By doing this, the project's task risk and overbudget occurrence rate will decrease Table The Intersection of the WBS and the OBS Supply Chain Management Seek suppliers Purchase Train machines employees Cost Account Cost Account Design package Test the Produce testing product Distribute Marketing Cost Account team Cost Account Design team Human Resource Cost Account team Operation team Marketing team the products Cost Account Cost Account Cost Account CHAPTER 6: A RESPONSIBILITY MATRIX With the use of the Responsibility Assignment Matrix, our project managers may decide how to effectively group employees for optimum productivity For each other's responsibilities, each member offers encouragement, notice, and approval Deliverables Task & Code Prepare for supply chain and machinery Seek Supplier - - Supply Design - - - HR Operatio n Marketing