Final exam assignment service marketing plan for sumo yakiniku bbq in vietnam market

INTRODUCTION Sumo Yakiniku is a BBQ restaurant brand associated with the famous Japanese grilling art, one of the famous restaurant chain brands under the Golden Gate Trading Service Joi

THE MINISTRY OF FINANCE UNIVERSITY OF FINANCE – MARKETING - FINAL EXAM ASSIGNMENT SERVICE MARKETING PLAN FOR SUMO YAKINIKU BBQ IN VIETNAM MARKET Marketing Service Lecture: Nguyễn Thị Minh Ngọc Class Code: 2121702052704 Member: Dương Mỹ Trân 2021006504 Trần Thị Thanh Ngân 2021006527 Nguyễn Thị Quỳnh My 2021001730 Phạm Đức Thành Ngọc Anh 2021006484 Ho Chi Minh, 2022 THE MINISTRY OF FINANCE UNIVERSITY OF FINANCE – MARKETING - FINAL EXAM ASSIGNMENT SERVICE MARKETING PLAN FOR SUMO YAKINIKU BBQ IN VIETNAM MARKET Marketing Service Lecture: Nguyễn Thị Minh Ngọc Class Code: 2121702052704 Member: Dương Mỹ Trân 2021006504 Trần Thị Thanh Ngân 2021006527 Nguyễn Thị Quỳnh My 2021001730 Phạm Đức Thành Ngọc Anh 2021006484 Ho Chi Minh, 2022 TABLE OF CONTENTS I INTRODUCTION II MARKET AND COMPETITION ANALYSIS 2.1 Overview of the Vietnamese market 2.2 Marketing environment analysis 2.2.1 Macro environment 2.2.2 Microenvironment 2.3 Competitors analysis 2.3.1 King BBQ 2.3.2 Hana BBQ III TARGET CUSTOMERS ANALYSIS & POSITIONING STRATEGY 3.1 Target customers 3.2 Positioning IV ANALYZING THE 7Ps MARKETING MIX STRATEGIES OF SUMO YAKINIKU BBQ 4.1 SWOT analysis 4.1.1 Strength .8 4.1.2 Weakness 4.1.3 Opportunity .9 4.1.4 Threat 4.2 Analyzing the 7Ps marketing mix strategies of Sumo yakiniku BBQ 4.2.1 Product strategy 4.2.2 Price strategy 12 4.2.3 Place strategy 12 4.2.4 Promotion strategy 13 4.2.5 People management strategy 14 4.2.6 Process management strategy 14 V CONCLUSION 18 REFERENCES 19 APPENDIX 20 PICTURES LIST Picture 1.1 Logo of Sumo yakiniku BBQ…………………………………………………………1 Picture 2.1 Company position chart……………………………………………………………….4 Picture 2.2 Logo of King BBQ……………………………………………………………………6 Picture 2.3 Logo of Hana BBQ………………………………………………………………… Picture 2.4 Brand positioning map……………………………………………………………… Picture 4.1 People processing of Sumo yakiniku BBQ………………………………………… 15 Picture 4.2 Act – Prologue and Introductory Scenes………………………………………… 15 Picture 4.3 Act – Delivery of Core Product……………………………………………………16 Picture 4.4 Act – The Drama Concludes………………………………………………………17 TABLE LIST Table 4.1 Summary of the Sumo yakiniku BBQ’s menu……………………………………… 10 ASSESSMENT FORM Name Student code The quality of Attitude Group Total (100%) completing the (30%) support (30%) task (40%) Dương Mỹ Trân 2021006504 40% 30% 30% 100% 100% Trần Thị Thanh 2021006527 40% 30% 30% Ngân Nguyễn Thị 2021001730 40% 30% 30% 100% Quỳnh My Phạm Đức Thành 2021006484 40% 30% 30% 100% Ngọc Anh I INTRODUCTION Sumo Yakiniku is a BBQ restaurant brand associated with the famous Japanese grilling art, one of the famous restaurant chain brands under the Golden Gate Trading Service Joint Stock Company This brand was launched in 2010, and now they have 20 restaurants nationwide Restaurant model: customers can enjoy a buffet in the form of Alacarte buffet: that is, Sumo yakiniku BBQ's staff will bring the menu to the table and serve the dishes you want At the same time, the store also launched a new Alacarte menu in 3D format for the first time in Vietnam This model is spread from the high-end to the affordable segment, because of this, it has reached many customers and has become a popular model Rising up and surpassing traditional hot pot restaurants, Sumo yakiniku BBQ buffet holds a large market share The menu at Sumo yakiniku BBQ is diverse with dishes such as Wagyu grilled beef, Yaki Suki, Japanese pancakes, salmon Sashimi, salmon rice rolls, etc are all popular dishes with diners Combined with a space decorated in Japanese style, Sumo yakiniku BBQ is also a favorite check- in point for young people The menu at Sumo yakiniku BBQ is derived from the Japanese culinary style Perhaps because of that, the quality of each dish at Sumo yakiniku BBQ is highly appreciated for its quality Sumo yakiniku BBQ's marketing strategy is built on all aspects, different angles, the important factor is brand building and positioning With Sumo yakiniku BBQ, right now what's worth focusing on is the service Picture 1.1 Logo of Sumo yakiniku BBQ (Source: Sumo BBQ) Document continues below Discover more fMroamrk:eting MARKETING K19 Trường Đại học Tài… 999+ documents Go to course Nội dung thuyết trình Vinasoy 18 100% (25) Giải đề Cam 16 Izone team 193 96% (81) Content Marketing - THE INTERNSHIP… 49 Marketing 100% (8) Ebook Tuyến điểm du lịch Việt Nam Bù… 434 Marketing 100% (2) ESCI Technical Manual nav… 96 Marketing 100% (1) Bài thi International MAR - mì Hảo Hảo 39 II MARKET AND COMPETITION ANALYSIS Marketing 100% (2) 2.1 Overview of the Vietnamese market Dining is becoming an essential part of modern life due to the increasing need to communicate and meet According to a report by Decision Lab, in the second quarter of 2016 alone, the number of Vietnamese people (excluding children) going to restaurants in three main cities (HCMC, Hanoi, and Da Nang) reached 340 million people , equivalent to $1.1 billion in revenue/quarter The F&B market overview report 2020, the amount of money Vietnamese consumers spend on outside food and beverages depends on where they live According to the latest F&B 2021 industry report today, Vietnamese adults consume the most protein (39%) (eg, meat, pate, seafood, eggs), followed by carbohydrates (35%) (eg: rice, noodles, bread, cakes) when eating out Western food accounts for only 6% of consumption, about the same as desserts Along with that, according to the research results of Kantar TSN, the average revenue growth of the online food delivery market in Vietnam will reach 28.5% a year and is forecast to reach the milestone of USD 449 million in 2023 Nowadays, the barbecue restaurant business model is gaining a high market share with the attraction of a large number of customers More and more restaurants selling BBQ meat appear everywhere In order to meet the needs and tastes of diners, BBQ restaurants always have diverse menus and food ingredients 2.2 Marketing environment analysis 2.2.1 Macro environment 2.2.1.1.Political environment Vietnam is considered to be the second country in Asia with a stable political system without many terrorist attacks in the world Laws and policies on investment and the development of economic sectors are always focused, constantly innovating to keep up with the times Moreover, There are not many regulations and policies to support the implementation of projects and startups to promote market development The functional departments check loosely on fire and explosion issues, food safety 2.2.1.2.Economic environment The economic growth rate is quite high, averaging 6.8% per year In 2021, although the economy is heavily affected by the covid epidemic, the economic growth in the fourth quarter of 2021 is at 5.22%, and the whole country is estimated that GDP in 2021 will increase by 2.58%, the consumer price index (CPI) will increase CPI) in January 2022 increased by 0.19% compared to December 2021 On the other hand, the rapid increase in gasoline prices affects the price of food raw materials In addition, the Covid-19 pandemic has drastically changed the business environment; The competitiveness and attractiveness of businesses operating in the model of chain restaurants with barbecue, hot pot, has increased rapidly 2.2.1.3.Social environment Consumer demand for new healthy culinary trends and increased demand for food In particular, people in urban areas (especially young people), prefer comfortable meals, gather with friends and relatives, and pay for meals Accepting many forms of cuisine, the food culture of China, Korea, Japan, However, the Vietnamese mentality is always ready to experience new food services, but it can still get boring quickly To maintain its revenue, businesses must stay flexible in developing products and services 2.2.1.4.Technological environment The speed of development and innovation of technology enterprises in the culinary industry is getting faster and faster As for the grill, the constant change in grills, kitchen tools, smoke systems has made a difference in the stores Along with that will be the world standard meat cooling technology, giving customers fresh, tender and sweet meat 2.2.1.5 Environmental condition The climate and culture in Vietnam are very suitable for the Japanese style of grilling that Sumo yakiniku BBQ brings From January to March, is the time when the number of customers eating hot pot tends to increase because this time has many holidays such as Lunar New Year, Valentine's Day, International Women's Day This day is an opportunity for people to gather together to eat and drink, plus the weather at the beginning of the year is quite cool and suitable However, from April to June, the number of visitors starts to decrease because the weather starts to heat up Even so, the number of customers is still maintained because there are still many grilled dishes suitable to eat in the summer and there are many other occasions to gather In addition, Sumo yakiniku BBQ is always equipped with air-conditioners suitable for the temperature for customers to eat comfortably 2.2.2 Microenvironment 2.2.2.1 Company Sumo yakiniku BBQ organizes the operating apparatus according to the following diagram: Picture 2.1 Company position chart (Source: Sumo yakiniku BBQ) 2.2.2.2 Suppliers Food and beverage suppliers in the provinces where Sumo yakiniku BBQ's restaurants are located to take advantage of cheap, clean local plant ingredients and cut transportation costs The food at Sumo yakiniku BBQ is directly selected by the chef and seasoned with spices, so the food is always guaranteed to be uniform in quality, freshness and taste All materials provided are of the highest quality Beef and pork at Sumo yakiniku BBQ are 100% imported from international standard beef farms in Japan, Australia, Canada 2.2.2.3 Marketing intermediaries • Got it - a Gift solution enterprise surrenders in Vietnam It connects with Sumo yakiniku BBQ to distribute vouchers to their customers and attract the interest of new customers • Golden Gate's G-Delivery is exclusively for Golden Gate's restaurant chains with special offers • E-wallets that support payment and send promotions to customers: MoMo, ShopeePay, ZaloPay • There is no waiting area for customers because at peak hours it is very crowded and customers have to wait • Service quality is different between restaurants: new employees are not properly trained, facilities, etc 4.1.3 Opportunity • The improved epidemic situation is an opportunity for Sumo BBQ to expand branches and strengthen its business to make up for the time of separation • According to baodautu.vn, the F&B industry in Vietnam is considered to be very potential, the total market revenue is about 200 billion USD in 2019 (according to Market Research Company Statista) and this number may double, reaching $408 billion by 2023 • According to cafebiz.vn, the buffet is a "magical" business model, making super-profits by taking advantage of cutting personnel costs, seasonal bulk food, etc This is also the market where Sumo BBQ is operating 4.1.4 Threat • Competition from large corporations and startups in the same industry: Redsun with a chain of restaurants and F&B services competes directly with businesses • Customers have an increasing demand for food service quality, but this does not go hand in hand with increasing prices Customers are increasingly interested in promotions and discounts, so the cost structure to create competitive prices but still ensure quality will be more difficult 4.2 Analyzing the 7Ps marketing mix strategies of Sumo yakiniku BBQ 4.2.1 Product strategy • Core benefit: A chain of grilled hot pot buffet restaurants with bold Japanese flavors with an enthusiastic and friendly service style Summary of the Sumo yakiniku BBQ’s menu Appetizer Otoshi, salad, mixed vegetables, kimchi, namuru, Side dish Main course Sashimi, sushi, cake, rice, soup, noodles, Drinks Kinds of Beef Wagyu beef meat Pork Chilled meat Chicken Premium beef Seafood Iberico pork American pork Hop pot There are bones Boneless Sangria Cordial Fish Salmon, cod, sardines Mocktail Another Fruit tea Shrimp, ocean octopus, French Bulot Juice snail, squid, abalone, Japanese scallop Cocktail Japanese hot pot Chanko hot pot, Miso kimchi hot pot Seafood hot pot Mixed seafood, tiger shrimp, salmon, baby octopus Noodles hot pot Udon noodles, Ramen noodles Meat hot pot Three limbs of beef with hot pot Mixed vegetables and mushrooms hot pot Fruit juice mixed with wine Cordial fruity Fruity Mocktails Tropical teapot, fruit tea Fruit juices of all kinds Fruity cocktail Highball Fruity Highball Tower Beer - Soft Heineken, Tiger, Sapporo, 36 Streets, Strongbow drink Soft drink, soda, mineral water Liquor Wine, sake, apricot wine The restaurant divides into menu types: Buffet and Alacarte: - For Buffet, customers will be able to choose unlimited dishes with types of Buffets including: Soudai Buffet, Classic buffet, Premium Buffet - For Alacarte, customers can choose individually or order combo/full course: Chilled Meat Combo, Wagyu Combo, Hokkaido Course, Sakura Course, Sekiwake Course, Ozeki Course, Yokozuna Course - There are also set lunches, specifically: Teriyaki grilled chicken rice set, Grilled Saba fish rice set with salt, American beef ribs rice set with Obathan sauce, Teriyaki grilled salmon rice set, American beef shoulder rice set with Tare sauce, set of fried seafood Yakisoba noodles, Set of American beef jerky with black pepper sauce, Set of squid ink rice with ginger sauce 10 Sumo yakiniku BBQ offers a variety of beef, pork and chicken However, in terms of seafood, they are somewhat inferior to their direct competitors Sumo yakiniku BBQ needs to offer a variety of seafood choices with different marinades and diversify ingredients such as octopus and snails to bring a more complete experience to customers In addition, the menu of Sumo yakiniku BBQ allows to choose a lot of combos with different characteristics, but the combos are only applicable for 2-3 people Therefore, it is very necessary to produce more combo options for other groups of 4-5 people because most of the customers coming to Sumo yakiniku BBQ are families, groups of friends, colleagues; This will satisfy all groups of customers as they not spend too much time choosing dishes and save more money than ordering odd dishes Sumo yakiniku BBQ should launch types of combos for groups of 4- people including: combo with beef and pork main course; combo with main dish is beef, pork and chicken; combo with all kinds of meat • The flower of service: Core Product: Customer experience - Sumo yakiniku BBQ declares “Where customers trust us in kindness and dedication” Information: Sumo yakiniku BBQ accounted for 31% of the total market share of public discussion in online newspapers and social networks about hot pot buffet restaurant chains during the period from April to September 2016 due to the brand regularly updating activities and programs Offer promotions on Facebook fanpage and restaurant website - Website: https://sumoyakiniku.com.vn/ - Facebook fanpage: https://www.facebook.com/SumoYakiniku.GoldenGateGroup/ Safety: In order for customers to feel secure to enjoy their meal to the fullest, Sumo yakiniku BBQ always has a CCTV system and guards on duty in the customer's parking area Payment: Sumo yakiniku BBQ provides customers with a variety of payment services including: cash, bank cards, e-wallets, vouchers,… Order talking: Sumo yakiniku BBQ receives service through the process of customers ordering at the table, this is suitable for diners who come directly to the restaurant In addition, if customers cannot come in person, they can order food through Foody and Gdeli apps to have it delivered to their door Bill: Bills are presented with full information about the branch, date, year, quantity and price of the dishes that the customer has ordered, the time of the order, The bill will be printed when the customer requests payment Consultation: One of the top criteria of Sumo yakiniku BBQ is the service attitude, the restaurant staff is always happy and enthusiastic to advise customers to choose the desired dish 11 Hospitality: Modern, clean and beautiful space with accompanying services such as fragrance, music Employees need to always show enthusiasm, hospitality and warmth in serving customers Exceptions: When restaurant staff are negligent, serving the wrong dish, customers feel uncomfortable The restaurant will redo the requested dish and give the customer a special discount voucher or serve an extra dessert (not included in the order) to apologize to the customer 4.2.2 Price strategy Premium pricing strategy: Continue to maintain the premium pricing for the brand For Alacarte: from 49,000 VND to 369,000 VND For Buffets: • Soudai buffet with prices from 569,000VND/adult and 170,000VND/child • Classic buffet with prices from 449,000VND/adult and 135,000VND/child • Premium buffet with prices from 499,000VND/adult and 150,000VND/child Occasional pricing strategy: Surcharge on holidays and New Year with surcharge of 10% on total bill Combo pricing strategy: This strategy is commonly used by Sumo yakiniku BBQ, most of the business's menu is combo products In the future, we want to create reduced price packages that match customer needs, specifically combos that include meat and seafood with the price of 1,319,000 VND This combo allows customers to choose the type of meat and seafood that customers want with a certain weight (the more expensive the food, the smaller the amount of food) 4.2.3 Place strategy Sumo yakiniku BBQ uses a direct distribution channel, finished products are produced at the restaurant and sold directly to customers This strategy helps businesses control all activities and problems arising from the beginning to the end of the distribution process Through that, businesses can easily receive the opinions, evaluations and feelings of customers to improve Up to now, the Sumo yakiniku BBQ restaurant chain has all 20 branches in big cities: Hanoi, Ho Chi Minh City, Da Nang and Bien Hoa city Specifically, there are including 10 branches in Ho Chi Minh, Hanoi branches, Da Nang branch and Bien Hoa branch All branches of Sumo yakiniku BBQ are present in well developed food service locations such as large commercial centers (Vincom, BigC), roads that attract diners to visit (Phan Xich Long, Le Van Sy, ) and densely populated places (Royal City Nguyen Trai - Hanoi) Sumo yakiniku BBQ needs to expand in cities with a developed tourism industry such as Da Lat 12 In addition to online distribution on Foody.vn application, Gdeli, Sumo yakiniku BBQ should be distributed on many other applications such as: ShopeeFood, Baemin, 4.2.4 Promotion strategy The following is the promotion plan for Sumo yakiniku BBQ from the third quarter of 2022 to the third quarter of 2023 • Sales Promotion: - Third-quarter of 2022: Combine with TikToker Ciin to create a trending dance using hashtag “#DanceWithSumo” Apply vouchers of 50.000 VND for those who duet Sumo yakiniku BBQ on Tiktok - Fourth-quarter of 2022: Conducting the program “Dạ tiệc Giao Thừa” with a 10% discount for the first 100 customers to check in on New Year's Eve, New Year's Eve 2023, Welcome the new year, welcome New Year's Eve with guests row - First-quarter of 2023: On the occasion of February 14, 2023, with the program "#SumoForLove", giving flowers and a pair of soaps printed with Sumo yakiniku BBQ logo to customers traveling in pairs In addition, giving teddy bears to sit with and chocolates for customers traveling alone, with the meaning of not forgetting lonely people - Second-quarter of 2023: With the message "recycling" on Environment Day, we introduce the program of folding stars from recycled paper while waiting for food and waiting for payment, each star is equivalent to 1.000 VND deducted from the bill • Advertisement: - Make viral clips about the restaurant on Tiktok, and Facebook Reels platforms - Collaborate with Food Bloggers (Ăn Sập Sài Gòn, ) to make review and introduction clips on Tiktok - Share programs, events, and discount vouchers on the dining group as well as the Fanpage of Sumo yakiniku BBQ - Run a short TVC on social media channels: Youtube, Tiktok, Facebook, about each promotion: "#DanceWithSumo", "Dạ tiệc Giao Thừa", "#SumoForLove", "Green Sumo" • Direct marketing: - Social media interaction with customers by responding to customer comments in a funny and trending way - There is a team to answer questions and support timely handling on online communication channels with customers 13 - The application software of Sumo yakiniku BBQ on Golden Spoon is always updated with information, the menu is complete and regular • Public Relations: - In order to build brand image and customer trust, Sumo yakiniku BBQ will collaborate with media partners and major press channels to make the Sumo yakiniku BBQ brand appear more widely and more often - Organized the "Green Sumo" program on World Environment Day on June 5, deducting 50% of daily revenue to donate to support the Vietnam Environmental Protection Fund (VEPF) Determine their role in the community, always actively contribute to the environment and the common development of society 4.2.5 People management strategy • Open skills training courses for staff regularly hold meetings to ensure staff understand restaurant regulations, processes and new promotions In addition, employees have good remuneration, a clear career path and are regularly invited to participate in team building activities with the company, providing a friendly and gentle working environment • Neat and agile staff behavior Each employee is assigned a separate area to serve customers faster and more efficiently • The recruitment policy of some positions (frontline staff) is as follows: Waiters, kitchen assistants, cashiers: Conditions: male and female from 18-35 years old, love the service industry, no experience required Benefits: salary 22000 - 26000/hour, fully participating in health insurance, social insurance, 13th month salary bonus, 20% discount for services at GGG, promotion and promotion process clear salary Manager: Conditions: male and female from 25-35 years old, have years of experience in F&B industry, have a college degree Benefits: including benefits of service staff and additional benefits for employees, participation in soft skills training courses 4.2.6 Process management strategy 14