topic proposal new products for real businesses and proposal plan to launch this new product

In this section, we will introduce Vifon''''s self-boiling noodles and propose a product launch plan to ensure success in the market of food businesses, including your business''''s products..

FPT UNIVERSITY- CAMPUS CAN THO

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Group Assignment [MKT101]

TOPIC: PROPOSAL NEW PRODUCTS FOR REAL

BUSINESSES AND PROPOSAL PLAN TO LAUNCH THIS NEW PRODUCT

Name of group member Contribution (%)

Cần Thơ, … /2023

TABLE OF CONTENTS

TOPIC: PROPOSE A NEW PRODUCT TO A REAL BUSINESS AND PROPOSE A PLAN TO LAUNCH THIS NEW PRODUCT

Content structure Guideline :

I INTRODUCTION

1 Product analysis

2 Assess position in the market

3 Evaluate product quality

4 Value added analysis

5 Consult consumers

6 Decision making

III ANALYSIS RESULTS

A Analyze the current product status

B Target market and customers

1 Target market for Vifon's self-boiling noodle products:

2 Characteristics of target customers

3 Analyze market demand

4 How Vifon's self-boiling noodle product can effectively solve this need

C Analyze competitors

1 Masan Consumer

D Recommended new products

E New product launch plan

1 Objectives of the marketing plan

2 Target audience

3 Message and communication content

4 Advertising and promotional activities

A.Product strategy

B Price strategy

C Distribution strategy

D Designing communication messages

E Communication at point of sale

F Communication via the Internet and the press

G Community PR programs

5 Total estimated budget for Marketing plan

Đánh giá

IV CONCLUSION

V REFERENCES

− Books

− Websites

I Introduction

1 In this section, we will introduce Vifon's self-boiling noodles and propose a product launch plan to ensure success in the market of food businesses, including your business's products 1 Introduction of Vifon's self-boiling noodles: Vifon's self-boiling noodles are a perfect combination of convenience and delicious taste, designed to meet the needs of both individual consumers and the food and service market This product helps you enjoy delicious noodles and saves time in meal preparation With a wide variety of flavors and a commitment to quality, Vifon's self-boiling has attracted a large number of customers worldwide

2 Successful product launch plan:

a Market research:

To ensure a successful product launch plan, it's important to understand your target market well Learn about the food businesses, restaurants, hotels, and quick food outlets youwant to reach Identify their needs, interests and forms of activity

b Create a marketing strategy:

Based on information from market research, develop a marketing strategy specifically for food businesses Self-boiling noodle products can be advertised as a time-saving option and a variety of locations to serve customers

c Building a reliable supply system:

Make sure you have an efficient supply system to meet the needs of your food businesses This includes establishing a reliable distribution system and maintaining good

relationships with supplier partners

d Create custom product bundles:

Consider creating customized product packages for different businesses Offering a choice of flavors, sizes, and quantities to fit each business's specific needs

e Promotions and discounts:

Consider creating special promotions and discounts for food businesses during the launch phase to attract them

f Monitor and evaluate:

Continuously monitor the performance of your product launch plan and be ready to make changes and adjustments if necessary based on feedback from customers and partner businesses

We believe that this plan will help you successfully bring Vifon's self-boiling noodle product into the market of food businesses and meet their needs

II Exploitation methods and framework.

1 Product analysis:

-Ingredient quality: Evaluate the quality of main ingredients of self-boiling noodles, including noodles, spices, fish sauce, and other ingredients

-Production process: Understand the production process of Vifon self-boiling noodles to ensure quality and food safety

-Storage and expiration date: Check information on storage and expiration date to ensure the product is not damaged and is safe for health

2 Assess position in the market:

-Market research: Review the self-boiling noodle market situation, analyze competitors and position Vifon products in the industry

-Product classification: Identify the strengths and weaknesses of the product compared to competitors, as well as the target audience

3 Evaluate product quality:

-Food quality: Check the delicious taste, attractive smell, and quality of noodles and spices

-Nutrition and food safety: Ensure products meet nutrition and food safety standards

4 Value added analysis:

-Spices and flavors: Evaluate the overall flavor and richness of spices.

Convenience: Consider the convenience of cooking Vifon self-boiling noodles and the time required

-Packaging and branding: Analyze packaging design and branding to ensure the product

is eye-catching and easily identifiable

5 Consult consumers:

-Consumer survey: Conduct a survey or focus group to collect consumer opinions about the product

-Consumer feedback: Listen to feedback and reviews from consumers on online and offline platforms

6 Decision making:

- Based on analysis and evaluation from previous steps, make decisions about product improvements, price adjustments, or other marketing strategies

-Identify specific improvements and implementation plans

Monitor product performance after decisions are applied :

What is the main decision about the goal

of a product marketing campaign? The main goal of a product marketingcampaign is to increase product

awareness, generate customer interest, and increase sales

What marketing channels does Vifon

Self-Boiling Noodles use to reach customers? Vifon Self-Boiling Noodles uses manymarketing channels, including television,

online advertising on websites and social networks, along with creating online sales points to reach customers

Which target group does Vifon Self

Boiling Noodles focus on in their

marketing campaign?

Vifon Self-Boiling Noodles focuses on the target group of consumers with busy lifestyles, especially those who want quick and convenient meals

hat promotional campaigns has Vifon

implemented to create interest from

customers?

Vifon Self Boiling Noodles has implemented a promotional campaign including special discounts and product gifts to encourage customers to test the product

Self Boiling Noodles create excitement

and motivation for consumers? campaign creates excitement by focusing on convenience and attractive flavors,

motivating consumers to buy the product

to solve their need for quick meals What is the shelf life of Vifon Self Boiling

Noodles?

On the packaging there will be specific instructions on how to preserve the product and its shelf life Because this information may vary according to each product batch and manufacturer's regulations and has a relatively long shelf life

What is the packaging type of Vifon

Self-Boiling Noodles? Do I need to add water

or any special temperature to cook the

noodles??

The noodles will be placed in a separate box or packaging, and the noodles will

be pre-treated so that they can cook quickly when exposed to water There is no need to add hot water or anything special to cook Vifon self-boiling noodles

III Analysis results

A Analyze the current product status

Vifon is known as a famous and popular brand in the field of instant noodle production in Vietnam With more than 35 years of experience, Vifon has become a reliable partner in the food industry Today, Vifon continues to shape and develop its image by providing consumers with high quality and diverse products One of the outstanding elements of Vifon today is innovation and creativity This brand not only creates traditional products but also constantly researches and produces new products to meet the diverse needs of the market

One of Vifon's key products is Nam Vang noodle soup flavor Hu Tieu is a traditional Vietnamese noodle dish and Vifon has successfully captured its essence in the form of instant noodles This flavor is characterized by the combination of broth made from pork, vermicelli and a variety of side dishes such as dried shrimp, fried onions and coriander Nam Vang noodle soup has been widely recognized for its authentic flavor and

convenience, becoming the top choice of many Vietnamese consumers

Another notable product is beef pho flavored instant noodles Pho is arguably one of the most famous Vietnamese dishes globally, and Vifon has managed to recreate its rich and flavorful broth in an instant noodle version Beef instant noodles offer a convenient way

to enjoy the signature taste of pho, with tender beef slices and fragrant spices This

product is not only popular with domestic consumers but also international tourists who want to experience Vietnamese flavors

For example, instant noodles with shrimp and meat flavor, combining the flavors of shrimp and meat, and instant noodles with My Tho noodle flavor, combining the unique flavors of My Tho city cuisine These products demonstrate Vifon's commitment to providing more flavor options, allowing consumers to explore different regional flavors conveniently with just one instant noodle

However, Vifon will also have to face some other famous instant noodle companies, especially Acecook and Hao hao These companies are all long-standing brands and have

a solid base in the Vietnamese instant noodle market Acecook Company is Vifon's main competitor Ranked in the TOP 500 largest enterprises in Vietnam, Acecook has more than 40 years of experience in the food field and has built a wide distribution system throughout the country This company also launches many diverse instant noodle product lines, meeting the needs of the majority of consumers

Price:

Vifon understands the importance of serving consumers of many different economic levels Therefore, they have priced instant noodles at an affordable price range, the price

of Thai shrimp hot pot noodles ranges from only 8000, suitable for working people as well as households This affordability factor allows a large segment of the population to enjoy the convenience and taste offered by Instant Noodles Furthermore, Vifon guarantees that the lower price will not affect the quality of their products This balance between price and quality is testament to Vifon's commitment to delivering value for money and creating a loyal consumer base

Aecook instant noodles prices vary depending on flavor, packaging size and purchase location In general, a standard-sized package of Aecook noodles can be purchased for about 1 to 2 USD This makes noodles a logical choice for college students, who often look to instant noodles as a quick and economical meal option Compared to other brands, Aecook instant noodles have competitive prices Some luxury brands may charge

a higher price for their products, especially if they emphasize unique flavors or use high-quality ingredients

Quality

In terms of quality, Vifon prides itself on using high-quality raw materials and applying strict production processes Vifon's instant noodles are famous for their chewy noodles, which retain their texture even after cooking The broth of Vifon instant noodles is also often praised for its smoothness and ability to complement the noodles perfectly Aecook noodles are known for their perfect texture, creating a balance between softness and hardness The noodles are cooked to the ideal consistency, neither too soft nor too

hard This ensures a pleasant chewing experience while maintaining the integrity of the noodles The texture of Aecook noodles has always been of high quality across their product lines, making them popular among noodle lovers In addition to taste and texture, the quality of ingredients used in Aecook noodles is also worth mentioning Aecook prides itself on using high-quality ingredients to create its noodle products The noodles are made from premium wheat flour, providing superior flavor and texture The spices and seasonings used in the broth are carefully selected to enhance the flavor of each specific variety Aecook noodles do not contain any preservatives or artificial additives, ensuring a more natural and healthier choice for consumers

Market share

In terms of market share, Vifon achieved the highest market share in quantity with 44.3% market share (*) According to retail data from Nielsen IQ in 2022, the VIFON brand achieved the highest market share in quantity with 44.3% market share in Category: Soups, Segment: Soups in Poland (Instant noodle foods), in the cumulative period w1

2022 - w52 2022

In terms of market share, Acecook and Masan are leading the instant noodle market, accounting for a total of 33% Mr Kajiwara Junichi, Chairman of the Board of Directors

of Acecook Vietnam Company, said that in 2022, the company will sell 3.3 billion packages of noodles to the Vietnamese market

Customer Feedback

And finally in terms of customer feedback based on many consumer reviews and taste tests, Vifon's instant noodles are said to have an authentic and rich flavor Vifon's instant noodles are often praised for their rich broth and distinct spices, providing a satisfying and delicious experience for the taste buds Vifon instant noodles' broth is also often praised for its smoothness and nutritious properties complements the noodles perfectly Customers often praise this brand for its rich flavors and variety of options Many people appreciate the brand's attention to detail in terms of seasoning and noodle quality Customer reviews often highlight the convenience and affordability of Vifon products However, some customers expressed concerns about the high sodium content and said the product lacked nutritional value These responses show that although Vifon has a loyal customer base, it must target the health-conscious market segment to maintain its popularity

On the other hand, Aecook, a relatively new company in the instant noodle market, has been recognized for its unique flavors and healthier options Customers often mention flavor and quality of ingredients as the distinguishing factors for Aecook noodles Many people appreciate the brand's focus on using natural ingredients and reducing artificial additives Customer feedback also shows satisfaction with the food portions and value for money that Aecook provides However, some customers reported inconsistencies in cooking instructions and had difficulty finding Aecook products in certain areas These

responses show that although Aecook has many attractive products, Aecook needs to improve availability and address any issues with cooking instructions to enhance the overall customer experience

Both Vifon and Aecook received mixed feedback from customers, which identified strengths and areas for improvement for each brand Overall, customer feedback plays an important role in shaping the strategies of these companies By actively listening to customers and addressing their concerns, Vifon and Aecook can continue to adapt and innovate, ensuring success in the competitive instant noodle market Overall, the diversity

of customer feedback received by both Vifon and Aecook highlights the importance of responding to customer preferences and continuously improving product offerings and customer service

From the evaluation criteria, our team found that Vifon has the following advantages and disadvantages:

One of Vifon's main strengths is its diverse flavors and reasonable prices Vifon offers a variety of ready-to-eat flavors, meeting different export locations and preferences Whether it's traditional beef or chicken flavors or more solid poisons like kimchi or seafood, Vifon has something for everyone This allows the jade brand to reach diverse consumer groups and attract a larger customer base Another strength of Vifon is its ability to recognize signals Being in the market for several years, Vifon has created a strong brand image and enjoyed consumer trust In Vietnam, Vifon is synonymous with instant noodles and is considered by many consumers to be a trustworthy and reliable brand This gives Vifon a competitive advantage over its competitors and helps maintain customer loyalty

However, Vifon also has some areas that need improvement One of the brand's main weaknesses is its packaging design While Vifon comes in many different flavors, the packaging is usually quite similar, with only slight variations in color and graphics This can make it difficult for consumers to distinguish between different locations and can lead to confusion or dissatisfaction Improving packaging design and making it more visually appealing and informative can enhance the overall product experience for consumers Another area where Vifon can improve is product quality Although Vifon has achieved a strong reputation, there are still cases where consumers express concerns about the taste and quality of certain flavors It is important for Vifon to ensure the highest quality products on all of its products and solve all problems Conducting regular quality checks and implementing control fat control measures can help improve customer satisfaction and maintain brand reputation

Areas and ways that Vifon needs to improve

However, there are also areas that need improvement, including packaging design and product quality By addressing these weaknesses, Vifon can continue to grow strongly in

a competitive market and meet customer expectations

For packaging, an important factor is to attract consumers Vifon's packaging should be designed to attract and impress at first sight It must be clear, intuitive and at the same time demonstrate the value and product of the product One way to do this is to use attractive colors and images, along with complete information about the product and ingredients In addition, using environmentally friendly packaging materials is also an important factor so that Vifon can implement the spirit of environmental protection and attract consumers to care about environmental protection To improve product quality, Vifon needs to strengthen quality management from the raw material stage to production and packaging Quality control of raw materials and products must ensure that in the end only quality raw materials are used and products meet the established quality standards

At the same time, production and packaging processes also need to be strictly controlled, ensuring product consistency and uniformity In addition, Vifon can also improve product quality by enhancing research and development New research and development investment will help Vifon improve production technology and create new products Carrying out tests to ensure effectiveness product safety and efficiency are also important factors in quality improvement work In the discussion, to improve packaging as well as product quality, Vifon needs to strengthen quality management, research and

development, along with innovation in packaging design Implementing these

improvements will help Vifon create better products, attract consumers and bring success

in today's competitive market

B Target market and customers

The target market and customers for Vifon's self-boiling noodles are an important part of the product proposal and marketing plan Here is a specific analysis:

1 Target market for Vifon's self-boiling noodle products:

Target markets may include both individual consumers and food service markets such as restaurants, hotels, and quick food stores

2 Characteristics of target customers:

- Individual customers: Identify characteristics such as age, gender, income, culinary preferences, and geographical location For example, a self-boiling noodle product may target young customers who lead active lives and have little time to cook

- Food service market: Evaluate restaurants, hotels, and food stores that quickly need to use Vifon's self-boiling noodle products to provide to their customers

3 Analyze market demand: