marketing plan marketing plan for nestwhey isolate milk a new product of nestlé vietnam

Psychographics Prefer milk or delicious drinks, active, like to experience new things, recharge to learn, eat clean, want to lose/ gain weight Search for healthy products, care about nut

MAJOR: MARKETING MANAGEMENT

Le Hoang Thuy Tien

SERIAL NAME STUDENT CODE PERCENT PERFORMANCE

SERIAL ACRONYMS PARAPHRASE

LIST OF TABLES PAGE NUMBER

TABLE OF CONTENT

1 EXECUTIVE SUMMARY 3

1.1 Introduction of Nestle brand 3

1.2 Nestle's goal and mission 3

1.3 Summary of main goals and recommendations 3

1.4 Summary of Marketing plan 4

1 EXECUTIVE SUMMARY

1.1 Introduction of Nestle brand

Figure 1.1: Company brand

Société des Produits Nestlé S.A or Nestle S.A., based in Vevey, Switzerland, and founded in 1866, is the world's biggest food and beverage corporation Nestle has a lengthy history in Vietnam, starting with the establishment of its first office in Ho Chi Minh City in 1912

Nestle now owns over 2000 distinct brands and operates in 191 countries across the world Mineral water, baby food, coffee, and dairy goods are among Nestle's current offerings

Nestle now employs about 2300 people in Vietnam, with six plants Nestle's

investment capital exceeds 600 million USD, demonstrating the company's long-term commitment to development in Vietnam, as well as its desire to improve the quality of life and contribute to a healthier future for the Vietnamese family generation

1.2 Nestle's goal and mission

Nestle is in the lives of billions of people every day Nestle tries to make the world a better and healthier place for individuals, families, communities, and the environment Nestle Vietnam's main aims and missions are to spread good news, promote a healthy lifestyle, conserve water, implement water-saving projects, and safeguard the

environment and environment of humans and animals

1.3 Summary of main goals and recommendations

Total sales in the first nine months of 2021 reached $69 billion, up 2.2 percent from the same period last year, according to Nestle's latest report Recognizing the strong development trend of the digital technology era, Nestle Vietnam claims that digital is a powerful driving force for long-term development, particularly in the context of the pandemic's severe effects in Vietnam Nestle has effectively implemented 4.0 technology in operations and manufacturing to assist businesses in growing and breaking through Product communication strategy is key, especially with the growth

of social networking platforms with an ever-increasing number of users In addition, product development and efficiency of the service will be necessary in the near future

1.4 Summary of Marketing plan

After examining the present market's business environment, competition, and customer wants Nestle's plant protein supplement bottled milk is the subject of our analysis, planning, and development of a marketing strategy This new product is known as Nestwhey Isolate Pricing, product, delivery, promotions, implementation, and control techniques are all part of the strategy We'll also make estimates regarding implementation costs and revenue projections

2 SITUATION ANALYSIS 2.1 Marketing Summary

Stable, from medium to high income and high affordable for

Occupation Mainly student Gymnast, officer, jobs that use a lot of energy,

Psychographics Prefer milk or

delicious drinks, active, like to experience new things, recharge to learn, eat clean, want to lose/ gain weight

Search for healthy products, care about nutrition ingredient, willing to try new things, busy,

exercise/gym/yoga, want to gain muscle, control weight

Search for additional

products, care about health, busy, do exercise regular, want to gain muscle, control weight

Behavioral - Benefits sought: refreshment,

delicious taste, cheap, get fit body,

- Benefits sought: good for health, fit body, convenient, reasonable price

- Benefits sought: good for health, fit body, convenient,

convenient

- Quite ready to buy

- Medium usage rates

- Loyal status: low -Occasion:

sometimes

- Pretty ready to buy

- Medium to high usage rates

- Loyal status: medium or maybe high

- Occasion: often

prioritize

product’s quality - Almost ready to buy

- Medium to high usage rates

- Loyal status: medium to high - Occasion: often

Table 2.1: Market Demographics

2.1.2 Market Needs

Nutritional values: Nestwhey provides consumers with a meal rich in protein and

essential amino acids that the body cannot synthesize on its own With ingredients made from natural nuts, the product is suitable for vegetarians as well as people with lactose intolerance In addition, the product has low fat content that is suitable for dieters or those who just want to find protein products

Variety of flavours and delicious taste: The product is made from a variety of

natural protein-rich nuts to provide consumers with a variety of choices Furthermore,

Nestwhey also has a delicious taste and is easy to drink, which helps to boost

consumer preference as well as raise and sustain frequency of usage

Perfect replacement: Nestwhey is not only set at a reasonable price and suitable for

consumer budgets but also can be substituted for protein supplements on the market that bring convenience and economical

Eye-catching packaging: Products are put on an attractive appearance to attract

attention and stimulate consumer behavior Not only that, the box material is made from environmentally friendly paper, which is able to decompose quickly and emit less toxic gas when burned This is also an advantage to help the product sink deep into the minds of customers

2.1.3 Market Trend

The demand for plant-based milk is increasing when consumers tend to replace cow's milk with nut milk/soy milk According to Global Data, more than 40% of consumers in Asia are transitioning to a plant-based diet, with 11% choosing vegetarian and vegan foods Besides, according to a survey reported by Nielsen, 53% of Vietnamese consumers want to find low fat/fat free products in their diet More importantly, close to 40% of the global population suffers from Lactose Intolerance

In a survey conducted by Kantar in 2019, 91% of Vietnamese responded that they were very worried about their health, 82% revealed that they must exercise regularly to be healthy In addition, 83% of men and 73% of women prefer to go to the gym to work out Followed by health support products and exercise supplements also increased, especially products that provide protein However, protein products on the

essential amino acids, as well as protein powder products, are expensive More importantly, the trend of consuming vegetable protein is of increasing interest because it is not only used by vegetarians but also chosen because it is considered healthy, good for health, and has a little negative impact on the environment Further, plant-based milk is a recommended dairy substitute for people with irritable bowel syndrome and inflammatory bowel disease

2.1.4 Market Growth

According to a recent survey conducted by Innova Market Insights, the global market for plant-based beverages increased to US $ 16.3 billion in 2018, doubling the number of US $ 7.4 billion in 2010 According to Nielsen, it is estimated that the global plant-based milk market will reach US $ 11.9 billion in 2017 and will grow to US $ 34 billion by 2024

In Vietnam, with economic development, people are becoming more aware of food and health People are actively choosing organic products and trying to incorporate plant-based proteins into their lives and the intent of consuming nut milk is increasing sharply Vietnam’s liquid milk market has a compound annual growth rate of 14% in the period of 2014 – 2019 In 2018, the domestic nut milk market accounted for 12% of the liquid milk market structure, with CAGR reaching 18%, the highest among liquid milk lines Besides, the plant-based milk market has grown with a CAGR of 6.0% for 2016-2020 and is expected to grow at a CAGR of 8.8% for 2021-2031

2.2 SWOT Analysis

2.2.1 Strengths

- Brand: Nestle Vietnam is a brand that holds a lot of market share with outstanding products such as NestCafe, Milo, Kitkat and the company image has long been engraved in the mind of consumers, thereby helping Nestwhey easily access to potential customers

- Distribution channel: Across the country, the Nesle brand is present in most supermarkets, markets, grocery stores, in urban and rural areas, this helps Nestwhey to have wide coverage

- Product: A delicate combination between Whey protein powder and plant-based milk, delicious taste and good for health, meeting market trends and demands

of gaining muscle, a toned and balanced body is being particularly interested by young people

Figure 2.1: Healthy eating trends

2.2.4 Threats

- Strong competitors such as Vinamilk, TH true Milk and Vinasoy as well as they also offer plant-based milk products in the market and are well known to many consumers - Whey protein powder can be mixed with other products while this Nestwhey still has many limitations

- After the pandemic, consumers tend to cut spending

2.2.5 Competition

Currently, in the foreign market, it is quite famous for its series of whey Protein powders, which have come to Vietnam and are trusted by many young people According to records, the amount of Whey milk exports of the United States has increased to a record level of over 70%

Figure 2.2: Whey protein powder

For domestic products, Vinamilk and TH True Milk now both have milk made from seeds at very cheap prices from only 6,500 VND – Vinamilk 180 ml, and 12500 VND – TH true Milk 180 ml

Figure 2.3: Competitor's products

In addition, there is Vinasoy associated with cows in the Vietnamese dairy market for nearly 25 years, with low price (VND 5,000 - 200ml), high quality, providing protein, calcium and protein for users

Figure 2.4: Vinasoy’s product 2.3 Product Offering

Nestwhey isolate offers 3 flavors made with protein-rich ingredients: brown rice, pumpkin seeds, and peas In addition, these ingredients also have separate health benefits

- Brown rice: Contains a lot of manganese to help synthesize fats, stabilize blood and is rich in antioxidants

- Pumpkin seeds: rich in antioxidants, magnesium, zinc and heart-healthy fatty acids, lower blood sugar and help sleep

- Peas: stabilize blood pressure, promote heart health and prevent cancer

Figure 2.5: Nestwhey Isolate 2.4 Key to success

- Nestle is still the market leader in the food and beverage category in Vietnam

- Nestle's objective is to launch a product that captures the trend of health concerns for a healthier life

- Gain points in the hearts of consumers with quality, practical health advantages, and convenience

- Nestle has always used efficient communication strategies to convey important ideas and tales Based on those attributes, this new product will readily attract customers with a message that addresses the demands of an important and pressing subject such as health

2.5 Critical Issues

- Targeting the best market segment to focus on that same group's requirements, goals, and aspirations, as well as developing actions to attract those consumers and make the marketing effort successful

- Confirm that payroll expenditures never exceed the income base by pursuing regulated expansion This will help in reducing the risk of recessions

- Monitor client satisfaction on a regular basis, and provide a service that will never damage the company's strategic plan or satisfaction levels

3 MARKETING STRATEGY 3.1 Mission

Nestwhey Isolate aims to motivate, assist, and defend Vietnamese customers' health The product provides health benefits through the usage of everyday items

2 When customers hear the word Nestle, they will immediately think of the brand that produces many of the most popular nutritious dairy products Expand marketing channels, such as TV commercials, e-commerce platforms, and social networking sites,

to enhance the frequency of presence for target customers Organize your point-of-sale marketing

3 Maintain positive growth and market share: Within one year of product introduction, gain 10% market share Increase existing customer sales and re-engage lost customers To reach target customers, use a variety of marketing platforms The penetration of research into the e-commerce sector

This is the age when people have a lot on their plates to meet their basic demands, such as studying, exercising, and working, so they don't have a lot of free time and must rely on rapid energy goods to keep going Furthermore, this is the age at when they begin to become aware of and interested in health-related topics As a result, Nestwhey Isolate supplies a solution that meets their requirements

Nestwhey also offers to people in their forties and fifties They will pay a premium for a product that is both convenient and healthful for themselves and their family

3.5 Positioning

Milk and powdered protein supplements are now imported from outside at high expense into the Vietnamese market Nestwhey's competitors in the vegan protein milk market include Vinamilk, TH TrueMilk, Fami, and others, all of which have lower pricing As a result, Nestwhey is centered on the demands of customers and targets rivals As a result, it is well positioned to differentiate itself and gain a competitive advantage for the company by producing a canned milk product with double the amount of plant-based protein

- Price positioning: the product has a mid-range price that is appropriate for the quality and affordability of Vietnamese consumers

- Positioning based on quality: double protein difference, clear-sourced plant extracts

Figure 3.1: Positioning 3.6 Marketing Mix Strategy

Figure 3.2: Nestwhey Isolate

3.6.1 Product Strategy a) Level

- The core value: high quality and affordable price - Actual product: Vegan milk

- Product type: Nestwhey Isolate Vegan Milk belongs to fast-moving consumer products, in line with current trends

b) Feature

- Type: Condensed milk, liquid

- Ingredients: made from healthy protein-rich seeds such as pumpkin nuts, brown rice nuts and quinoa nuts

- Uses: restore and strengthen muscles, help fight inflammation, reduce inflammation, help treat diabetes, especially help reduce hunger and lose weight, gain weight

c) Branding

- Brand name: Nestwhey Isolate

- Meaning of the brand name: Nest represents Nestle, the leading fast-moving consumer brand in Vietnam, Whey is known as a protein supplement powdered milk product for the body, whey Isolate represents a vegan product made from vegan materials

d) Packaging

- Unique, eye-catching colors with green as the main color, it shows a healthy and vegan lifestyle and a convenient design, packaging provides a list of ingredients and how to use,store

- Besides, Nestwhey also regularly changes packaging to match holiday concepts such as: Tet Holiday, Father's day, Mid Autumn We also implement a depth strategy when generating volumes 110ml ,180ml, 1liter

e) Product support service

Receive exchange, return and compensation if the product is defective, provide a hotline to provide and care for customers

3.6.2 Pricing strategies

Psychological pricing: We set the price at 13.500 and 8.500, to stimulate customers to

buy in even quantities

Penetration price: Cheaper than Whey protein powder but equal and not too high

from plant-based milk on the market

Type 1 bottle 4 bottles 48 bottles

180 ml

13,500 VND

52.000 VND (Save 2.000 VND)

618.000 VND (Save 30 VND)

110

ml 8,500 VND 32.000 VND (Save 2.000 VND) 378.000 VND (Save 30 VND)

Table 3.1: Price of Nestwhey Isolate

Compared to competitors like Vinasoy, Vinamilk, TH true Milk will have a higher price but with the emphasis on double protein

Compared with whey protein powder: Liquid Nestwhey is convenient and cheaper

Price 325.000 VND (48 bottles 180ml)

608.000VND (48 Bottles 180 ml)

About 1.750.000 VND (1 box)

Table 3.2: Price of competitors

3.6.3 Place Strategy

Mass distribution strategy : Distributed nationwide, easily accessible to all

customers, on two main channels, GT (General Trade) and MT (Modern Trade) - General Trade (Wet Market, grocery, street shop, milk shop): Reach customers in both rural and urban areas, increasing product coverage to the maximum Combining display strategy in terms of location, quantity, presentation, , eye-catching, impressing customers

- Modern Trade (Hyper Market, Supermarket, CVS, E-commerce): Easily manage direct access to consumers, cut retail, distribute goods in bulk, and save costs Especially e-commerce platforms are a trend of consumption

- Traditional advertising: Using TVC ads on national TV channels (VTV3, VTV4, HTV) and pop-up ads on popular programs

- Out-of-home advertising: Setting up pano,billboards on main roads and electric screens on shopping malls Cover buses and bus shelters with posters of Nestwhey in 5 big cities

- Digital Marketing: Using SEO (Search Engine Optimization), dynamic product ads on Facebook

- Electronic media: Work with editorial offices to introduce the outstanding features and outstanding uses of the product,

- Social Media:

⚫ KOLs, Influencers: Cooperate with Influencers who are viral and have green lifestyle (such as Tri Phan, Hana Giang Anh, Trinh Pham, Quang Dai, An Phuong, Giang Oi) to create post/ video and upload on Facebook, Youtube, Instagram, Tiktok In addition, Nestwhey also work with comedian such as to create video clips and parody videos with the present of Nestwhey product to attract a wide range of consumers

⚫ Youtube ads: Using combo 3 months non skippable in-stream ads, bumper ads each trimester to be viral and access to potential customers

⚫ Word of mouth Marketing: Create posts on food review groups on Facebook and use a seeding team to influence consumers without losing favor in their eyes ⚫ Launch winning gaming programs, campaigns, gift giving challenges to motivate

customers to come to the brand

Direct Marketing: Send email to notify and take care of customers

Personal Selling: Set up trial counters in supermarkets, shopping malls

nationwide so that customers can feel the taste of the product before buying, as well as approach customers better

Public relations

- Regularly update Nestwhey's activities and programs on Facebook, Instagram and

- Create a blog with topics around green lifestyle and using Nestwhey product - Sponsor, event

3.7 Action Plan CATEGOR

Y

January February March Product Product

launch launch on the market two flavors are walnuts, almonds on 2/1

penetration pricing strategy

With 30.000 bottle 180ml sold in the first month, customers will be able to buy at a price of 11.500 VNĐ

Bundle pricing strategy

- Discount 30.000 VND when buying a box of 48 bottles - Discount 2.000 VND when buying a pack

4.500.700.000

Place General

Trade Distribute and display in to grocery, Milk Shop, Street shop that have cooperated with

X

Support partner

Provide product display shelves for retailers agents and distributors (100)

50.000.00 Modern

Trade Distribute and display in

supermarket, convenience store

Distribute on E-commerce such as Tiki, Shopee, Lazada

Distribute and display in all channel

X

Promotion

987.200.000

OOH Advertisin

g

- Bus shelters, buses, taxis in HCM city - Set up pano, billboards at roundabouts and crossroads

- Digital OOH ads on the routes into the city center, in the elevators of malls in all districts of HCM city

609.000.000

Digital marketing

SEO, Google Adwords, dynamic product ads on Facebook

- 19/1, 23/1:

Kenh14 upload at 11h

None Zing upload on 5/3 with content about new Nestwhey edition is gift for women in women day

74.000.000

Social

media ads Combined with “Đảo đồ ăn” group on Facebook, hire a team seeding post to stimulate consumption

1 Cooperate

with

influencers who have a positive energy lifestyle such as Hana Giang Anh (1/2), An Phương (6/2) They will create a

1 Work with “Giang ơi” to

advertise Nestwhey with content “Mình đã vừa chăm con, vừa giảm cân như thế nào?”

130.000.000