market in vietnam final report

Not only providing fresh fruit teas and softpanna cotta cakes, but also maintaining and developing traditional dishes such as: Fish CakeRolled with Laksa Leaves, Squid Riem, Fish Riem to

FPT UNIVERSITY- CAMPUS QUY NHON

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FINAL REPORT

Đặng Quốc Đạt Lưu Tường Vy Nguyễn Thị Tấm Nguyễn Lê Phương Thùy Huỳnh Thanh Tân Trương Đỗ An Nguyên

1.Introduction 2

2.Background 2

2.1About Us 2

2.2Overview 2

3.Market Analysis 2

4.Implementation 4

4.1Idea of the project: 4

4.2 Timeline: 4

4.3 Implementation: 4

5.Results and Evaluation: 5

5.1Revenue results 5

5.2 Evaluate social media results 9

5.3 Mistakes made while working on projects and how to fix them 11

6.Conclusion 12

7.Reference 12

1 Introduction

Tiem Ty - Fruit Tea Shop creates drinks with many health benefits by using ingredients such

as fresh fruit The main task of fruit tea is to supplement vitamins and provide antioxidants This drink is not only delicious but also has many health benefits such as helping to lose weight, strengthen the digestive system, improve skin tone, and increase energy This helps the body function healthily and become more youthful

In the context of raising awareness about health and nutrition, the Fruit Tea - Tiem Ty Snacks business project is guaranteed to bring the essence of safe, preservative-free and suitable beverage choices Suitable for many people, including those who love sugar and lead a healthy lifestyle Fruit tea not only brings delicious taste but also contains many health benefits and has become a popular trend in the world today, with many people wanting to improve their health and relax after work tiring work

2 Background

2.1 About Us

Tiem Ty was born with the desire to bring customers healthy drinks The restaurant focuses on choosing fresh, natural ingredients Not only providing fresh fruit teas and soft panna cotta cakes, but also maintaining and developing traditional dishes such as: Fish Cake Rolled with Laksa Leaves, Squid Riem, Fish Riem to show appreciation, honoring heritage -Quy Nhon culinary products

Tiem Ty is designed with a cool summer space, giving diners a convenient stop to enjoy unique dishes and fresh fruit tea

2.2 Overview

With a rich product portfolio, Tiem Ty offers customers a diverse choice Fruit tea is the main highlight of the shop, with cups of tea made from fresh fruits, providing a fresh and nutritious flavor Customers can enjoy cups of rich and delicious fruit tea, bringing refreshment and relaxation

In addition to fruit tea, Tiem Ty also offers a variety of attractive snacks From savory dishes like cake mixes to dessert cakes like Panna Cotta, from light snacks to creative dishes, customers will discover many delicious and exciting options

3 Market Analysis

Market in Vietnam.

The fruit tea and snack business model market in Vietnam is becoming an important part of the culinary service industry With the change in consumer eating habits, the demand for healthy, delicious and unique drinks and snacks has increased significantly

In addition, the fruit tea and snack market also benefits from the trend of increasing health awareness and healthy diet in the community Consumers are increasingly interested in

consuming products that are natural, preservative-free and free of artificial ingredients Fruit tea and snacks in this model often use fresh ingredients, no preservatives and have high nutritional benefits, meeting customer needs

Market in Quy Nhon.

Quy Nhon has the potential to develop the fruit tea and snack market due to many factors This city is located on the coast with beautiful natural landscapes and a mild climate, creating favorable conditions for growing and producing fresh fruit Quy Nhon is also known for specialty fruits such as green-skinned grapefruit, specialty jackfruit, Cat Truong mango and Binh Dinh dragon fruit, creating a source of fresh and diverse ingredients for fruit tea business models

With the tourism advantage and the development of the tourism industry in Quy Nhon, the demand of tourists and locals for fruit tea and snacks has increased Tourists often look for unique experiences and special flavors in tea shops, cafes and snack bars This creates opportunities for fruit tea and snack business models to serve and meet customer needs

3.1 Competitive Analysis

Competitors:

Fruit tea shops, milk tea shops, coffee shops, and beverage groups around FPT University in particular and Quy Nhon in general

Coffee shops: Coffee shops can also be competitors, especially if they offer similar drinks and have strengths in space, style or service quality

Online cafes: In today's technology era, online cafes are also a competitor worth watching These are online platforms that allow customers to order and have products delivered to their doorstep They can take advantage of the convenience and diversity of the online business model to attract customers

TIEM TY competitive element:

- Pricing: Prices for teas and snacks can be an important competitive factor The ability to

provide quality products at competitive prices can attract many customers Pricing strategy is the way the restaurant prices its products and services Pricing strategies such as price can be applied fixed, time-varying prices, discounts, promotions or discounts for bulk purchases A suitable pricing strategy can help the cafe attract customers and compete effectively At Tiem

Ty, water prices range from 15,000-25,000, the average price for drinks and snacks ranges from 15,000 VND -35,000

- Product quality: Product quality in a Tiem Ty process plays an important role in attracting

and maintaining customers Quality ingredients: Using high quality ingredients is an important factor in creating delicious and safe drinking water Ensure ingredients such as purified water, fresh fruit, sugar and other ingredients are carefully selected and meet quality standards

- Customer service: Provide excellent customer service, such as fast and friendly service

times There is free delivery service for customers in Quy Nhon City area

- Customer Feedback: Evaluating feedback and opinions from customers can help Tiem Ty

adjust its products and services to compete better Positive feedback from customers can help build credibility and drive business growth

- Marketing and advertising strategy: Creative and effective marketing and advertising

and Tiktok to promote products in the closest way to customers.

4 Implementation

4.1 Idea of the project:

- Tiem Ty wants to bring customers the experience of cheap snacks and fruit tea drinks Create

a variety of snacks suitable for all customers With a clean supply of ingredients, it ensures the health of customers and brings a good experience Tiem Ty also creates promotions such

as discounts when customers order in large quantities Promotion for used and returning customers Tiem Ty also focuses on bringing products to customers through Facebook and Tiktok channels to attract customers Tiem Ty wants to achieve revenue and profit after 8 weeks of operation

4.2 Timeline:

- Phase 1: January 9, 2024 to January 17, 2024, first Tiem Ty will focus on bringing products

to customers

- Phase 2: January 20, 2024 to February 5, 2024 Tiem Ty will promote sales and bring new drinks to customers and post on Facebook and TikTok

- Phase 3: February 6, 2024 to February 15, 2024 Tiem Ty maintains sales and offers promotions to customers to keep customers coming back

- Phase 4: February 17, 2024 to March 8, 2024 Tiem Ty creates promotions to thank customers and wants to achieve and exceed the sales volume Tiem Ty has set

4.3 Implementation:

- Phase 1: The group will offer fruit drinks and snacks to customers through posting on 2 platforms Facebook and TikTok to attract customers' interest and awareness of Tiem Ty products Tiem Ty will only post 3 articles/week and new products

- Phase 2: The team will promote sales and promote the health benefits of drinking fruit tea Tiem Ty will post 3 articles/week and have videos about the product making process to bring trust to customers

- Phase 3: The team will maintain sales and create promotions to retain customers Post 3 articles/week about promotions and new products

- Phase 4: The team creates customer appreciation programs for using the product and promotions to increase product sales Post 3 articles/week

5 Results and Evaluation:

5.1 Revenue results.

Time period from January 9, 2024 - January 13, 2024:

- Actual revenue and profit did not meet expectations

- Cause: During the first week of operation, the group encountered difficulties in marketing strategy as well as unstable product sources And the first week the group still had no experience with delivery So the first week the group stepped up advertising for Tiem Ty

Time period January 14, 2024 - January 17, 2024:

- Actual revenue and profit exceeded expectations

- Effective marketing strategy, the team has created interest and preference among customers, leading to significant growth in sales and profits and products that customers like and love the most in the market At this stage, the dew starlings have seeds

Time period January 20, 2024 - January 27, 2024:

- Actual revenue achieved was higher than expected

- The group still maintains marketing strategies for newly launched products

Time period January 30, 2024 - February 5, 2024:

- Actual revenue and profit are higher than the group's previously set target

- During this period, the group always updates the "hot trend" items of today's youth, thereby creating increased sales and profits

Time period February 6, 2024 - February 10, 2024:

value and led to significant growth in revenue and profits.

Time period February 12, 2024 - February 15, 2024:

- Actual revenue and profit did not meet expectations

- The number of products sold is less than last week

Time period February 17, 2024 - February 24, 2024:

- Actual revenue and profit remain stable and meet expectations

- The success of the digital marketing campaign has increased reach to target customers and created a significant growth in revenue and profits

Time period February 26, 2024 - March 15, 2024:

- Actual revenue is still much higher than expected And highest in this period

- In this final phase, the group is always actively running stronger marketing Therefore, many customers know and support more During this period, the group is running a promotion program on March 8 with a 5% discount for customers, and is better known and served well Customer care in the most complete way

https://docs.google.com/spreadsheets/d/1HJSNPLd-ZBXojY6n825wIIKww0qlp9IxkNWsii4CLkc/edit?usp=sharing

State 1:

Number of interactions: 534

Interaction rate: 17.1%

In the first week, the article achieved a large number of reaches, reaching 3,124 Users have a fairly high level of interaction, with 534 interactions, an interaction rate of 17.1% This shows that the article has attracted attention and positive interaction from users

Phase 2:

Reach: 2,526

Number of interactions: 338

Interaction rate: 13.4%

In the second week, the post's reach dropped to 2,526 The number of interactions also decreased significantly to 338, an interaction rate of 13.4% Even though reach has decreased, the post still received a significant amount of interaction from users

Stage 3:

Reach: 2,538

Number of interactions: 421

Interaction rate: 16.6%

On the third week, the reach did not change much compared to the previous week, remaining at 2,538 However, the number of interactions increased to 421, the interaction rate reached 16.6% This shows that the article has attracted interest and positive interaction from a number of users

Stage 4:

Reach: 1,938

Number of interactions: 365

Interaction rate: 18.8%

However, interactions still maintain a remarkable level with 365, an interaction rate of 18.8% This shows that although reach has decreased, the article still attracts positive interactions from users

Stage 5:

Reach: 2,835

Number of interactions: 397

Interaction rate: 14.0%

In the fifth week, reach increased to 2,835, reaching the highest level since week 1 However, engagement decreased to 397, an engagement rate of 14.0% This shows a decrease in interest from users, even though the number of people accessing the article increased

Stage 6: There were 3,271 visits to the article and 293 interactions The ratio of interactions to visits

is 293/3,271 ≈ 0.090 (about 9%)

Stage 7: There were 1,720 visits to the article and 208 interactions The ratio of interactions to visits

is 208/1,720 ≈ 0.121 (about 12.1%)

Week 8: There were 587 visits to the article and 120 interactions The interaction ratio on visits is

120/587 ≈ 0.204 (about 20.4%)

the target of 69.3% because

- Marketing is not good, but most of the shops are opened offline, so many loyal customers support the shop regularly

- Short time: 8 weeks may not be enough to build and develop brand awareness and create familiarity with the shop's products for online customers

5.2 Evaluate social media results

- Our team completed our initial goal of 29 Facebook posts and gained 424 followers (less than our goal of 170 followers)

- The number of people reached in the past 28 days (from March 15, 2024 to March 13, 2024) has a total of 1212 people reaching (the most reach is more than 200 people) posts, the number of natural viewers is 1187, followers is 417

times, (from March 15, 2024 to March 13, 2024).

- Women use 43.1%, men use 56.9% Looking at the chart, we can see that the number of people aged 18-24 is the most users, both men and women have made 20% progress, much higher than other age groups

5.3 Mistakes made while working on projects and how to fix them.

- The group failed to maximize revenue by not deducting a portion of revenue for marketing and SEO costs to promote the brand and products

- The Tiktok channel is performing poorly and has fewer videos and fewer interactions than the Facebook channel

- Human resources: Lack of staff (only 1-2 people making juice and delivering), too many people focusing on communication

- Ingredients: Do not invest in a good juicer, the cost of fruit ingredients is too high (because it

is fruit juice, it is difficult to preserve, so it cannot be imported wholesale)

- The team did not focus on a specific customer or market segment, demographic factors were ignored by the team

*How to fix:

- The team should focus more on business goals and marketing goals, must clearly determine whether to focus on maximizing profits or increasing brand awareness

- The group needs to spend more money on SEO and Facebook Ads, Google Ads combined with technology in monitoring and analyzing business data to get the right development direction