ready to drink coconut coffee and new product marketing strategy for trung nguyen legend business

That''''s why our group decided to choose RTDready-to-drink Coconut Coffee product as the "development strategyproduct of Trung Nguyen Legend Group".2.. The customersthat RTD coconut coffee

READY-TO-DRINK COCONUT COFFEE AND NEW PRODUCT MARKETING STRATEGY FOR TRUNG

NGUYEN LEGEND BUSINESS

Full name Studentcode Work is divided ContributeHuỳnh Tuấn Anh CS171237 General informationabout Trung Nguyen

Nguyễn An Khương CS170951

Business environmentanalysis and business

Nguyễn Tiểu Ngọc CS171307 Consumer sentimentanalysis 100%Đặng Thị Bích Ngọc CS170672 Analysis of marketing-mix strategy 100%Nguyễn Hạnh CS170995 Proposing product

advertising strategy 100%

TABLE OF CONTENTS

I GENERAL INTRODUCTION

1 Introduction to the topic

2 Identify target customers

II RESEARCH METHODS AND CONCEPT FRAMEWORK

1 Research methods

2 Theoretical framework

III ANALYSIS RESULTS ONLY

1 OVERVIEW OF TRUNG NGUYEN LEGEND GROUP

1.1 General introduction

1.2 The process of formation and development

1.3 Core values, vision, mission, and goals of the company

2.1.2 Political and legal environment

2.1.3 Cultural and social environment

2.1.4 Demographic environment

2.1.5 Technology environment

2.2 Micro business environment

2.2.1 The business itself

4.4 Product promotion strategy.

5 ADVERTISING, BRAND COMMUNICATION

5.1 Promotion RTD coconut coffee is made from 100% pure coffee withfresh coconut

Vietnam is increasingly integrating deeply into the world economy,facing the wave of globalization that brings many advantages and risks tobusinesses The question is how Vietnamese goods can penetrate into manymarkets and increase profits along with maintaining and developing themarket This requires each business to equip themselves with a strategy that

is most suitable and feasible for the selected target markets Therefore, areasonable marketing strategy that is both scientific and highly practical isreally an urgent requirement for the long-term development of enterprises inproduction and business, especially those that produce products ownbranded products Trung Nguyen Legend Group is a strong operator in thecoffee market in Vietnam and Asian countries such as China or Korea Afterthe development and great success of G7 instant coffee, Trung Nguyen iscurrently showing signs of slowing down, but with big competitors likeNestcafe or Vinacafe, Trung Nguyen desperately needs an innovation inproduct appearance Products That's why our group decided to choose RTD(ready-to-drink) Coconut Coffee product as the "development strategyproduct of Trung Nguyen Legend Group"

2 Identify target customers

There is a similarity with the previous G7 instant coffee in terms of targetcustomers who have little time and need convenience in enjoying coffee Butthis strategic product has a few differences in identifying target customers,who are people aged 20-35 and students and office workers The customersthat RTD coconut coffee targets are usually people with high enthusiasm,creativity, dynamism in work, and above all they do not have too much freetime for drinking coffee and coffee as well is an energy drink that helps themstay awake and work more efficiently

II RESEARCH METHODS AND CONCEPT FRAMEWORK

Clearly define the problem to be analyzed and exploited to come up with

an appropriate marketing strategy

Objectives of the study:

- Assess the business environment factors around Trung Nguyen Legend,based on that, make appropriate marketing strategies and methods

- Understand customer psychology and expectations from consumers

- Provide product overview images

- Based on the above research, make marketing and advertising strategiesfor products

III ANALYSIS RESULTS ONLY

1 Overview of Trung Nguyen Legend Corporation

1.1 General introduction

Full name

Trung Nguyen Coffee Joint StockCompany belongs to Trung NguyenGroup

Abbreviations Trung Nguyen Legend

Logo

Chairman of the Board of

Directors cum General

Director of Trung Nguyen

Group

Dang Le Nguyen Vu (1971)Establish June 16, 1996, in Buon Ma Thuot city

Member company

Trung Nguyen Joint Stock Company,Trung Nguyen Instant Coffee JointStock Company, Trung NguyenCoffee Company Limited, G7 Tradeand Service Joint Stock Company andVietnam Global Gateway JointVenture Company (VGG)

Main occupations

Producing, processing and trading teaand coffee; Modern franchise andservice, distribution, retail

Headquarters No 82-83 Bui Thi Xuan, Ben ThanhWard, District 1, HCMCPhone number Tel: (84.28) 3825 1852

Fax: (84.28) 3925 1848Website http:/trungnguyenlegend.com

Authorized capital 150 billion VND

1.2 The process of formation and development

1996: The establishment of the first coffee shop in Ho Chi Minh Citywas the first step for the formation of Trung Nguyen restaurant system inthe provinces of Vietnam and countries around the world

2001: Successful franchising in Japan, Singapore Announcement of theslogan: "Inspire Creativity" with products distilled from the best coffeebeans, modern technology, unique oriental know-how that cannot becopied, and the extreme passions that have brought China to the world.Nguyen conquered consumers all over the country

2003: G7 instant coffee product was born with the event "G7 InstantCoffee Festival" at Thong Nhat Palace on November 23, 2003 whichattracted thousands of participants and made a mark with a blind test.Directly voted for the most favorite instant coffee product between G7 andthe world's major coffee brand As a result, 89% of people chose G7 astheir favorite product

2010: Trung Nguyen coffee products are exported to more than 60countries around the globe, typically the US, Canada, Russia, UK,Germany, Japan, China

2012: Coffee brand is the most loved by Vietnamese consumers TrungNguyen coffee is the No 1 Brand in Vietnam with the largest number ofcoffee consumers There are 11 million/17 million Vietnamese householdsbuying Trung Nguyen coffee products Launching the Journey of GreatIndependence - Start-up Kien Quoc with the Festival of Creativity forVietnamese aspiration attracting more than 50,000 participants

2013: G7 celebrates its 10th anniversary, marking 3 years of leading themarket share and being the most popular The Journey of Great Will - KienQuoc Startup spread widely with the Creative Future contest and the 2ndVietnam Innovation Day for Aspiration attracting 100,000 participants

2016: Celebrating 20 years of Service Journey, announcing a new Title,Vision, and Mission Launched space Trung Nguyen Legend cafe – TheEnergy Coffee That Changes Life, becoming the largest coffee shop chain inSoutheast Asia Donating 2 million life-changing books in the Great Lap ChiJourney, Kien Quoc Startup for Vietnamese youth.

2017: Trung Nguyen Legend officially opened a representative office inShanghai (China), one of the world's leading commercial and financialcenters Launched E-Coffee model: Special specialty coffee system, Energycoffee, life changing coffee

2018: Inaugurated the World Coffee Museum at "Global Coffee Capital"Buon Ma Thuot Launching the Trung Nguyen Legend and Trung NguyenLegend Capsule energy coffee masterpieces

25 years of establishment is not a long time for a business that startedwith nothing like Trung Nguyen, but the results achieved are remarkable.With 1,000 franchised cafes spread throughout the provinces from North toSouth and many franchised cafes with Trung Nguyen brand name around theworld such as the US, Japan, Singapore, Thailand Built the coffee worldmuseum Becoming a symbol of Vietnam's coffee industry, the Coffee Cityproject was built and developed by leading partners, all with the goal ofmaking Buon Ma Thuot become the "coffee paradise" of the world.1.3 Core values, vision, mission, and goals of the company

1.3.1 Vision

- Great organization by serving the human community

- Becoming a corporation that promotes the rise of the Vietnameseeconomy, maintains the national economic autonomy, and arouses andproves a desire for Dai Viet to discover and conquer

- Becoming the leading weasel coffee brand chain in Vietnam and reachingout to the world

- Create a closed process, from the source to the product to the customer.Take customers as the focus to create the best products/services

- Affirming the position of a domestic dominant corporation - conqueringthe world with a unique - different - unique system of products, models,services, and projects

1.3.2 Mission.

- For businesses: Building a leading brand by giving coffee drinkerscreative inspiration and pride in Trung Nguyen style imbued withVietnamese culture

- To customers: The mission is not only to benefit customers byproviding the best products and services, but also to create enjoyableexperiences and added value for customers Select the best products to send

to customers Building a strong Vietnamese brand in the country and theworld Since then, the country has raised its national status

- With partners: Promote the spirit of cooperation and mutual supportfor mutual success

- With employees: Create a dynamic working environment, maximizethe creative spirit of the staff

- With society: Building a unified human community according to avalue system of an awakened lifestyle, as well as bringing true success andhappiness Harmonizing corporate interests with social benefits, activelycontributing to community-oriented activities, demonstrating the spirit ofcivic responsibility and national pride

1.3.3 Target

- Dominate the domestic market, conquer the world market

- Shift from width to depth

- Create different products but still keep the traditional features

- Holding the position as the coffee company with the largest franchisenetwork in Vietnam and internationally

- Connecting coffee lovers and enthusiasts around the world

- Trung Nguyen will build a world coffee center like the world coffeeparadise in Buon Ma Thuot

- To become the world's largest coffee processing company in 2022

- Taking the lead with the spirit of innovation, steadfastly pursuing adifferent strategy

- Trung Nguyen Coffee Group, the largest coffee processing company

in Vietnam, is planning to invest $80 million to expand its operations in theCentral Highlands

- Build a new processing plant with a capacity of 300 tons per day inBuon Ma Thuot city, Dak Lak province in the next three years

1.3.4 Core values

- Inspiring creativity: Creativity is Trung Nguyen's leading drivingforce in affirming its pioneering ability to provide useful values tocustomers and employees

- Brand development and protection: All members are responsible forbuilding, developing, nurturing and protecting Trung Nguyen's brand

- Consumer-centric: Always take consumer satisfaction as the focusfor all activities

- Building success with partners: Working closely in the spirit of trust,respect and equality because the success of partners is also the prosperity ofTrung Nguyen

- Developing strong human resources: Providing employees withsatisfactory material and spiritual benefits as well as training anddevelopment opportunities along with Trung Nguyen's constant growth andtaking efficiency as the foundation

- Contributing to building the community: Actively contributing tobuilding a good community environment and contributing to thedevelopment of the common cause of the society

2 Environmental analysis and business model

2.1 Macroeconomic environment

2.1.1 Economic environment

Vietnam is on the rise with many new opportunities for cooperation andintegration, which has a great impact on large enterprises in our country,specifically Trung Nguyen

With the current high economic growth rate of our country, creatingmany opportunities for Trung Nguyen to invest in expanding productionand business activities However, at present, Vietnam's economy is quite

unstable, the growth rate is fast, but it is accompanied by rising inflationand a depreciating currency, thus causing many difficulties for TrungNguyen's business activities, especially is the purchase of raw materials.2.1.2 Political and legal environment

Under the EVFTA, the EU will eliminate taxes for all unroasted orroasted coffee products (reduced from 7 to 11% to 0%), and processedcoffees from 9 to 12% to 0% At the same time, coffee is one of 39geographical indications of Vietnam that the EU commits to protect whenthe EVFTA officially comes into operation This is a huge competitiveadvantage for the Vietnamese coffee industry in general and Trung NguyenLegend in particular

Coffee is protected by the state in terms of rights and brands, supportsproduct prices and facilitates exports to foreign countries, besides, the stateestablishes a coffee association to operate and develop coffee for thepurpose of coffee shops thoroughly understand the guidelines and policies

of the Party and the State, protect each other from monopolistic acts,market disputes that infringe upon the interests of enterprises, and protectthe interests of Vietnamese coffee in the market With the accession toWTO, Vietnam's coffee industry has had a new transformation, especiallyTrung Nguyen Legend coffee has been known not only in the country butalso in the foreign market, creating more development orientations.The relevant laws that Trung Nguyen needs to comply with are:Investment Law, Enterprise Law, Labor Law, Antitrust Law, Anti-DumpingLaw Government policies will affect Trung Nguyen, it can create profits orchallenge Trung Nguyen such as trade policies, industry developmentpolicies, economic development, taxes, regulatory policies competition,protect consumers Besides, cumbersome administrative procedures havenot been improved, which is a significant factor hindering investors.Certain limitations for Trung Nguyen such as taxes affect revenue andprofit

2.1.3 Social and cultural environment

Trung Nguyen has an outstanding advantage, that is, it is located right inBuon Ma Thuot, the hometown of coffee Therefore, Trung Nguyen easilycreates cultural similarities with coffee ingredient suppliers as well as

easily creates the characteristics of Vietnamese coffee in each of its coffeeproducts For the US market, they like fast food, so drinks like coffee arevery popular Nam is not only a common drink but also represents cultureand civilization After more than 2 years of accompanying and being a keydistributor in the US, I am very confident to accompany Trung NguyenLegend to spread the value of Vietnamese coffee culture in my country."The US is one of the countries that consume Vietnamese coffee, becauseAmericans use coffee at will, not as connoisseurs as Europe, drinkingcomfortably, not fussy The US is the country that consumes the mostcoffee in the world because they do not grow coffee but have to importother countries, including Vietnam However, the difference in coffee taste

of customers varies from region to region In a region where customershave different coffee tastes, Europeans like light and sour coffee, manyVietnamese like strong, bitter, almond-flavored, earthy coffee The styleand habits of each person when drinking coffee are not the same Somepeople drink coffee simply because they have a habit of drinking coffee tostay awake at work or study, they don't care much about the brand or type

of coffee, as long as there is coffee to drink However, some people drinkcoffee to relax, entertain after hard work or simply like to enjoy the coffeeflavor of a certain brand There are also people who drink coffee because ofits famous brand, they will feel more stylish, more stylish, moreprofessional through drinking coffee of a famous brand Therefore, TrungNguyen needs to study the culture and taste of coffee of each differentregion and clearly define target customers to segment the market, targetcustomer segments

2.1.4 Demographic environment

The current population of Vietnam is 98,354,024 people as of September

25, 2021 according to the latest figures from the United Nations Thepopulation density of Vietnam is 317 people/km2 The number of peopleaged 15 to under 64 years and older accounts for 69.3%, so it is clear thatVietnam has a golden opportunity when using an abundant young laborforce With the current population situation, this is an opportunity for TrungNguyen Legend because this is the age with high coffee consumption forrelaxation, study Trung Nguyen's customers are quite rich, with all kinds

of products objects, from young people, traders, freelancers, to officeworkers, people with high incomes, the elderly The largest amount and

value of coffee consumed falls in the middle-aged (35-50 years old) andold (over 50 years old) age groups, the young (15-35 years old) group tends

to increase strongly coffee consumption strong In terms of industries,people who work a lot on their minds and have professional skills such astechnicians, management leaders, professionals, office workers consumethe most coffee

According to the survey results on population living standards in 2020announced by the General Statistics Office, the average monthly income ofthe whole country in 2020 at current prices will reach about 4.23 millionVND, down about 2% compared to the previous year 2019 The year 2020

is the year people are severely affected by the COVID-19 epidemic, it can

be seen that this year's spending increases more slowly than the previousperiod (average spending in 2018 increased by 18% compared to 2016) .The income of Vietnamese people in general is increasing, but due to theimpact of the Covid epidemic, it has caused many difficulties for theeconomy in general and Trung Nguyen Legend in particular Businessesneed to have a strategy that is appropriate to the current situation and needs

of consumers Urban population is 33,122,548 people, accounting for34.4% of the total population of the country Migration to busy areas isincreasing more than in previous years, especially urban areas because this

is where people choose to come to change their lives, where studentschoose to study has affected the place of product consumption, whichmakes Trung Nguyen Legend have to come up with a suitable strategy ineach residential area

2.1.5 Technological environment

In 2018, Trung Nguyen launched a special Trung Nguyen LegendCapsule (roasted coffee capsule), leading the Vietnamese coffee trend withforeign and Italian brands Designed with high applicability, Trung NguyenLegend Capsule product set can be integrated and used on other coffeemachines currently on the market Meanwhile, the LegendEra series ofmachines designed specifically for Trung Nguyen Legend roasted coffeecapsules has made a difference with high applicability China CorporationNguyen Legend makes it easy for consumers to enjoy Trung NguyenLegend Capsule anywhere, at the office or at home in the style of moderncoffee enjoyment