Group Assignment-- Fresh Garden Strategy 4Ps Analysis Report.pdf

1.1 Description of service packages and development Fresh Garden is known as a bakery and cafe brand originating in 2011 by CEO NguyenThu Ha.. Fresh Garden is the brand that produces and

GROUP FRESH GARDEN STRATEGY 4PS ANALYSIS REPORT

ASSIGNMENT Lecturer: BÙI THỊ HẠNH THẢO

3 Nguyễn Hoàng Lan

4 Quách Thị Thu Hương

5 Trần Thị Thuý Hường

6 Lê Linh Chi

7 Nguyễn Quỳnh Anh

1 INTRODUCTION

About this assignment

The 4Ps of marketing is a model for enhancing the components of your "marketing mix"– the way in which you take a new product or service to market It helps you to defineyour marketing options in terms of price, product, promotion, and place so that youroffering meets a specific customer need or demand The marketing mix is a good place

to start when you are thinking through your plans for a product or service, and it helpsyou to avoid these kinds of mistakes (MindTools, n.d) The current 4Ps marketingstrategy for Fresh Garden will be covered in this article The second is the demographicsurvey conducted, which will bring out specific metrics to help find the pros or cons ofFresh Garden's marketing strategy Finally this article gives recommendations for FreshGarden to change or add to your marketing strategy The current 4Ps marketing strategyfor Fresh Garden will be covered in this article The second is the demographic surveyconducted, which will bring out specific metrics to help find the pros or cons of FreshGarden's marketing strategy Finally, recommendations for Fresh Garden to change oradd to the company's marketing strategy are given in this article

1.1 Description of service packages and development

Fresh Garden is known as a bakery and cafe brand originating in 2011 by CEO NguyenThu Ha Fresh Garden is the brand that produces and trades all kinds of cakes with theslogan "Fresh every day" in order to provide customers with quality and convenientproducts (Garden, 2021) On December 1, 2010, the first Fresh Garden bakery wasopened at 50 Nguyen Chi Thanh, Hanoi In the early years, the main products of FreshGarden were cream cakes and fresh bread, with perfect ingredients and fresh care everyday, ensuring nutrition and beautiful designs, good prices only After 1 year, FreshGarden owns 5 stores By 2015, they had 30 Fresh Garden stores in Hanoi Fresh Gardenproducts are manufactured on modern lines, with raw materials imported directly fromcountries with a long tradition of baking in the world Their delicious and delicious FreshGarden cakes have won the trust and support of customers Not stopping at the Hanoimarket, Fresh Garden continues its journey to conquer the Ho Chi Minh City market By

2018, Fresh Garden is reaching more and more when it reaches 60 stores in Hanoi, HoChi Minh City and 1 first store in Hải Phòng (Garden, 2021).

In the coming years, Fresh Garden wants to develop more special products for dieters,diabetes, organic products In addition to trading and manufacturing cakes, from 2021Fresh Garden will be held regularly once a month on weekends of "Baking class".Because of the form of the cake, each type of cake will follow the holidays, according tothe weather of the year, so each month they will teach 1 cake suitable for each season.The success and development of the Fresh Garden brand not only has quality cakes andbeverages but also the space at the store is also an attractive point to attractcustomers, creating a mark (Garden, 2021) Also make a mark on customers thanks tothe luxurious European-style space of the restaurant, the green trees have brought to thestore a green space but still no less modern and youthful Give customers a quiet andmodern getaway after the noisy and bustle of life and work You can go to the store toorder a cake or order drinks and enjoy or work, it can be an ideal and convenientworking space Besides high quality products and space to attract customers of FreshGarden The success of Fresh Garden must be mentioned there must be a professionalstyle of customer care, dedicated to the return policy, home delivery and loyalty card.Continuously give promotions and gratitude to customers during holidays (Garden,2021)

1.2 Target customer and target market

Target customer

As we all know, any brand clearly states the product's goal, the brand is identified right

on the brand slogan, Fresh Garden is no exception, with the slogan "Everyone's FreshCake" It can be seen that the segment customers of this market are the people.Because the cake is still fresh, it can be said that it is a convenient and familiar dish ofmany people (Garden, 2021)

Target market:

It can be said that Fresh Garden is one of the first bakery brands pioneering in the field

of "take away" cakes If we talk about Vietnamese words, we can think of banh chung,banh mi, and leaf cake, etc So Fresh Garden has used the name in English so that

customers can clearly imagine the style Fresh cakes from European countries (Garden,2021).

(Garden, 2021)Because it is a take-away line, which makes it easy for customers to use

it, the market for this brand is very diverse No matter the office worker or students,students, those who want breakfast, snack or lunch can use Fresh Garden Cake Notonly the usual pastries, when it comes to Fresh Garden, we all know that savory cakesare the highlight of this brand Sandwich with full veggies and meat, or hot dogs,sandwiches, pancakes These are all delicious savory cakes that are loved bycustomers Now, Fresh Garden also develops a line of beverages suitable for cakes Thecoffee filter of this brand is also a favorite dish of office people and offices

2 ANALYZE THE RESULTS OF THE MARKET RESEARCH

Strengths:

1 Creating novelty in the Vietnamese bakery market at launch

2 Beautifully decorated chain stores create brand identity

3 Using imported ingredients and their recipe

4 The message is clear

5 Cooperation with the school system

6 Launch of new products

Weakness:

1 Business organization design is not comprehensive

2 Weakness in internal personnel

Opportunities:

1 Spending on the food and drink industry in Vietnam has increased

2 The income level of Vietnamese people increases

3 Benefits of free trade agreements (FTA)

4 The trend of using products of natural origin

Threats:

1 Appearing with many competitors

2 Methods of preserving raw materials.

Strengths:

10 years ago, Fresh Garden appeared as a "new wind" in the pastry business market inVietnam Besides brands such as Hai Ha, Thu Huong, Nguyen Son, Fresh Garden atthat time impressed by the decoration with a bit of European direction, particularlycakes & coffee on the streets in Paris (Thucte.vn, 2020)

Fresh Garden focuses on investing in building stores The stores are all designed withthe typical style of the brand to bring the impression and brand recognition tocustomers (Tri thức trẻ, n.d)

In production, Fresh Garden does not use materials of unknown origin, additives in thelist of prohibited use The ingredients being used all come from reputable brands such

as Anchor, Vivo, Meiji, Komplet Some Italian sauces such as pizza sauce, mayonnaiseare imported directly from Italy Fresh Garden has replaced sweeping eggs on thesurface of the cake before baking with a synthetic water that is mainly made fromsoybeans imported from Germany, which is also the difference in the recipe (Tri thứctrẻ, n.d)

One of the strengths of Fresh Garden is its connection with the school The FreshGarden brand in cooperation with the Vinschool school system in Hanoi has now built 4stores in 4 Vinschool schools (Fresh Garden, 2019)

Weakness:

The owner of Fresh Garden is not a baker, not a businessman This brand was founded

by 2 husband and wife After a period of operation, the Fresh Garden executives realizedthat in order to develop a sustainable system, it was necessary to have an orderly andstandardized procedure for all departments in the company Currently, Fresh Garden isgradually implementing a change The company uses two ways: to build the process byitself and invite a consultant to help standardize the process Mrs Nguyen Thu Ha, CEO

of Fresh Garden once shared: “The system is operated by people, if you want to train

and operate it must be based on the process, so you always maintain this link todevelop" (Tri thức trẻ, n.d)

Fresh Garden has weak internal staffing Its main baker is Taiwanese who cannot speakVietnamese, and the CEO is Nguyen Thu Ha who speaks English with the baker Thenshe passed it onto the staff This process will cause interruptions in work exchange,affecting time and efficiency of work (Thucte.vn, 2020)

Opportunities:

According to UNFPA data, the total population of Vietnam in 2020 is 97.3 million,ranking first in the Mekong region (OpendevelopmentVietnam, 2021) According toresearch results of Business Monitor International (BMI), the consumption ofconfectionery per capita in Vietnam in 2016 was just over 2kg / person / year, still lowcompared to 3kg / person per year of the world, and 65% of the rural population has amodest consumption of confectionery compared with the potential Therefore, theconsumption potential of the domestic market is still very large, is forecasted to reachabout 40,000 billion VND by 2018, which is the reason why pastry traders quickly mapout investment directions strategic According to statistics, in 2015, Vietnam's bakeryand pastry market grew at 6% in volume and 14% in revenue, making it one of the mostdynamic markets in Asia in this sector ( OD Click, 2018) With the characteristics of ayoung population, concentrated in urban areas, the Vietnamese pastry industry hasgreat potential for development In particular, coffee models combined with pastries areincreasingly popular

Besides, most people often spend 35% of their income to spend on buying food andbeverages (Tuoitreonline, 2018) The proportion of young people is increasingly high,estimated at over 50% of the population of Vietnam under 30 years old, the income levelhas improved and the habit of purchasing processed food is increasingly popular, theabundance along with the abundance of agricultural products are advantages forbusinesses in the industry to diversify their product categories According to Nielsen,food and beverages were two of the 10 most traded products on the internet in 2017.Today, in the era of globalization, international integration has become a common trend

of all countries for development Goods, services, currencies and investment capital of

countries can all circulate and circulate on a global scale; production assignment andcooperation can also take place in many countries on a global scale; A country'sbusinesses can participate in the global value chain… As of August 1, 2020, the EVFTAAgreement has officially entered into force after it has been ratified (Bộ công thươngViệt Nam , 2021).It can be said that EVFTA is one of the new generation Free TradeAgreements that Vietnam has joined, with many deep and wide economiccommitments Therefore, enterprises importing raw materials from abroad will getmany benefits such as tax reduction and time reduction Besides, the CPTPP Agreementofficially took effect for Vietnam from January 14, 2019 The CPTPP Agreement willhelp strengthen mutually beneficial links between member economies and promotetrade, investment and economic growth in the Asia-Pacific region (Bộ công thương ViệtNam , 2021).

Consumer F&B spending changes after the arrival of Covid-19

(Thời báo ngân hàng, 2020)

Today, the trend of using quality, nutritious, natural and organic foods is increasing.Especially, after the covid-19 epidemic this situation has been increasinglystrengthened This is an opportunity to help businesses develop new productsoriginating from nature Fresh Garden is researching and developing these products "Inthe long term, I want to develop specific products for dieters, diabetes, organicproducts", CEO of Fresh Garden once shared (Tien Phong, 2021)

Threats:

The first challenge you face when you want to open a bakery business is the level ofcompetition in the industry is extremely fierce Competitors always have certainbusiness strategies that are hard to foresee And if you do not have much experience inbusiness, it will lead to the situation of not being able to sell products, thereby causinglosses.There is a group of consumers who are very fond of cakes Therefore, to meetthe needs of customers, many businesses and companies also established and tradedthis service So Fresh Garden will have competitors such as Pris Gateaux, ArtemisPastry & Coffee Shop, C'est Si Bon, etc

The second difficulty that you must find a way to solve is the problem of cakepreservation If you do not know how to preserve it or the conditions of preservation arenot good, it will affect the quality of the cake, causing the cake to spoil and affect thestore's sales In the case of selling poor quality cakes, it will discredit your brand(Salekit, 2020)

Primary research

Demographic analysis, the statistical description of human populations, is a tool used

by government agencies, political parties, and manufacturers of consumer goods Pollsconducted on every topic imaginable, from age to toothpaste preference, give thegovernment and corporations an idea of who the public is and what it needs and wants.The government's census, which is conducted every ten years, is the largestdemographic survey of all Today demographic is also being used as a noun; so, forexample, TV advertisers are constantly worrying about how to appeal to "the18-to-24-year-old demographic"(Merriam-webster, 2020) Demographic segmentationisn’t just a one-time task Different kinds of segmentation may be useful for different

brands and products, and you may find yourself segmenting your audience in differentways at different times (Qualtrics.com, n.d).

From the above information, you have a simple understanding of the concept ofdemographics, demographic size Survey about the brand Fresh Garden wasparticipated by 148 people at FPT University Hanoi

78,4% of participants are between the ages of 19-25 The target market segment is thisaudience This is a young, income group that likes new experiences This target groupuses many bakery products, using a variety of products with different prices and quality

The week of serving cakes on special occasions such as holidays, birthdays, and eventsaccounts for 40.5% 16.9% of respondents use cakes every day The rest have thefrequency of eating pastries by week or month from 1-4 times / month or 1-4 times /week.

➔ The number of people using these cakes on the special is huge Besides,cakes also serve the daily needs of everyone Therefore, pastry productsare very diverse for everyone's needs: Products for daily service, productsfor special day use (festivals, birthdays, events)

Both products, short-term fresh and long-preserved canned cakes, are of interest topeople, accounting for over 48.6% In addition, the number of people who only use freshand short-term preservation is 41.9% 9.5% is the number of people who only usecanned bread for a long time.

➔ The vast majority of people use both of these products Fresh Gardenshould sell both types of products to serve the diverse needs ofcustomers

49% of participants know the brand of Fresh Garden through the street stores 49% ofparticipants know the brand of Fresh Garden through the media 34.5% of participantsknow about the brand through a relative introduction In addition, 11.5% of theparticipants did not know this brand.

➔ About 90% of respondents know the brand of Fresh Garden

➔ Opportunities for Fresh Garden to develop products and receive customerfeedback on its products and services

➔ Customers who know Fresh Garden the most through two sources are:shop observations on the street and media sites So, the Fresh Gardenstores create good customer recognition Customers identify the FreshGarden brand through its own stores

Most of the survey respondents used to use Fresh Garden products Whipped creamcake was the most used product with 48%, followed by cake with 45.3% In addition,other products are also selected by customers with no difference in quantity Allproducts are used by 20% - 40% of customers 18.9% of people have never used FreshGarden products.

➔ Customers often use a variety of products instead of choosing to buy onlyone product

➔ The quantity of products of Fresh Garden does not differ too much Onecustomer used a variety of Fresh Garden products

➔ Cake and cream cakes are two of the most popular of the company FreshGarden should promote the development of these two products