MINISTER OF FINANCE UNIVERSITY OF FINANCE —- MARKETING TÀI CHÍNH - MARKETING MARKETING MANAGEMENT FINAL EXAMINATION REPORT MARKETING MIX PLAN FOR TH TRUEMILK COFFEE BEAN MAJOR : MARKETING
SUBJECT: MARKETING MANAGEMENT
Professor : NGO MINH TRANG
Trang 2MINISTER OF FINANCE UNIVERSITY OF FINANCE —- MARKETING TÀI CHÍNH - MARKETING MARKETING MANAGEMENT FINAL EXAMINATION REPORT MARKETING MIX PLAN FOR TH TRUEMILK COFFEE BEAN MAJOR : MARKETING
SUBJECT: MARKETING MANAGEMENT
Professor : NGO MINH TRANG
Captain : BUI THI BICH NGOC Phonenumber : 0979.557.653
Email : ngocbtb.hem@gmail.com
Trang 3TABLE OF CONTENTS
1.0 Executive SuTmTNAFV ch TH HH HH HH HH HT TH HH HH nhe 1 2.0 Situation AnaÏys1§ nh nh Hà Hà HH HH HH HH HT HH HH 1
2.1, Market Summary 64AŒỐ|đ 1
Trang 4TABLE OF FIGURES
Figures 3.5; Action Plan Table 13 Figures 4 Í; SaÏ€ FOTGCASE HH HH HT HT ng nh cư nen re 15 lJ 8.92/0, 1n nnnn nen ee 16 Figures 4.3: Expense Forecast Milestomes :c:ccsccsssecsssseosesscessessersesereeseesessenserssensecasenes 17
Trang 51.0 Executive Summary
Briefing on marketing plan the following tasks and tasks must be established by the company : Establish company objectives from 2021 to 2022 Examine internal and external environmental factors to determine the company's opportunities, challenges, strengths, and weaknesses The company's 2022 marketing objectives The business's marketing strategy Planned and carried out Assess marketing outcomes The competitive situation
The purpose and structure of the assignment: Making use of farm-grown natural materials Using cutting-edge processing and packaging technology Using a secure and rigorous distribution procedure to ensure product quality reaches consumers Launching a new range of milk produced from fresh milk in a variety of flavors Diversifying its product ranges, with the most common point being that they are made entirely of fresh milk and natural additives Vision: - To become the leading manufacturer in Vietnam in the field of clean goods of natural origin - Determined to become a high-class brand trusted by everyone Mission: - With a spirit of closeness to nature, TH Group strives to nourish Vietnam's body and soul by providing natural products that are clean, safe, fresh, and nutritious - Objectives for the first year
- Make impressive TVCs or product related Tiktok trends so that more people know the TH Truemilk Coffee Bean
- Emphasize milk nut products made entirely from milk and natural ingredient, good for consumers’ health
- Offer many attractive promotions with accompanying gifts
Trang 62.0 Situation Analysis 2.1 Market Summary
- Overview of customers’ needs and tastes for liquid milk in Vietnam
Despite the fact that many other businesses were hit by the global economic crisis and recession, Vietnam's dairy processing industry continued to grow at a rapid pace Vietnam's milk export turnover reached 302.7 million USD in 2020, up 10.5 percent from the previous year, according to the Ministry of Industry and Trade According to the Vietnam Dairy Association, fresh milk output is expected to reach 1,702,4 million liters in 2020, up 1% from the previous year Production of milk powder is predicted to be 131.6 thousand tons, up 9.1% over the previous year Although consumption is increasing, it is still at a low rate, with growth ranging from 2.1 to 3.9 percent over the previous year Dairy products are a fast-moving consumer good (FMCG) (accounting for 13 percent of total FMCG consumption)
With substantial commercial investment, Vietnam's milk export turnover is expected to reach $300 million by 2020, primarily in the form of yogurt and liquid milk to the Middle East, Philippines
- Companies competing in the liquid dairy industry in Vietnam
Trang 72.2.SWOT of TH True Milk 2.2.1 Strengths
- Advantage of starting point
The dairy market is one of the most competitive markets in Vietnam with many famous domestic and imported brands such as Vinamilk, Nestle, Dutch Lady, Despite participating in such a competitive market, TH True Milk still won certain successes The 30% market share figure is proof of TH True Milk's efforts In addition, this brand successfully rose to the representative position thanks to the company's well-invested platform, including:
LO) Stable capital from Bac A Commercial Jomt Stock Bank [] The largest and most advanced factory and farm in Southeast Asia - Friendly company culture
TH True Milk has a very environmentally and socially friendly organizational culture This strength contributes to improving the development within the company as well as the brand image in front of the public
- TH True Milk has set of principles and visions in business such as: O) Protecting public health through clean milk
O) All-natural ingredients 2.2.2 Weakness
- Price
Since entering the dairy market, TH True Milk has been a brand with a higher price tag compared to other dairy brands This puts TH at a huge disadvantage in the competitive domestic dairy market, especially compared to Vinamilk, the largest dairy producer in Vietnam Especially, the high cost is also an obstacle for TH True Milk when it comes to accessing the middle and low income class, the class that makes up the majority of the total population in Vietnam
2.2.3.Opportunities
- Paying attention to consumers’ health
Trang 8Organic milk is expected to grow 200% in global sales by 2025 And in Vietnam, the majority of organic dairy products are still imported from overseas branch organic farms So, there is a potential demand for organic milk market in Vietnam and TH True Mulk is pushing strategically into this emerging market and has made many important strides
2.2.4 Threats
- Non-stop competition
As mentioned above, the competition in Vietnam's dairy market is one of the challenging factors in the future of TH True Milk In particular, any brand's product or idea can be imitated and sold at a cheaper price For example, TH True Milk has long been known as the leading organic milk producer in Vietnam since its inception However, the company faced competition from Vinamilk, a huge dairy brand in the Vietnamese market, when it also launched organic dairy products
2.3 Competition + DUTCH LADY
Dutch lady was brought to Vietnam in 1924 Vietnam has a wide market throughout the country, and Dutch Lady split it by age, including all ages: children, teenagers, and adults Pasteurized milk, condensed milk, and other dairy products are included in market segmentation by dairy product
Because Dutch Lady caters to a wide range of demographics, they position "ready for a vitality" for their liquid milk line and "with babies grow up" for their baby food line, asserting their product diversity for all ages and separating themselves from the IQ message Many milk brands have chosen it
Li Strengths and Weaknesses of the Dutch Lady - Strengths:
LO High technical level
() Accounting for around 35% of the Vietnamese dairy sector « Constantly improving products, competitive prices « Wide distribution network, strong brand position
Trang 9[Ì Customers to target: Female: 15-35 years old, with a concentration between 25 and 35 years old; they live in cities, have a lot of businesses or retailers, and are compassionate women Family care is important
+ VINAMILK
"Top 10 Vietnamese high-quality commodities," Vinamilk has reasserted its quality and position in the Vietnamese and international dairy markets after more than 40 years of construction and development
With a market share of 37 percent, it is Vietnam's largest dairy company, with 45 percent of the liquid milk market, 85 percent of the condensed milk market, and 85 percent of the yogurt industry As a result, Vinamilk has the ability to decide the domestic selling price From 1995 to 2009, consumers voted Vinamilk as one of the "Top 10 High Quality Vietnamese Goods."
O) Vinamilk's strength and Weaknesses Strength:
(1) Product quality: A wide range of products, including many of Vietnam's most popular dairy products: Ong Tho condensed milk, Sao, Dielac, Yogurt Vinamilk High-quality items at cheaper prices than imported products of the same sort, and it has the biggest market share in Vietnam among suppliers of similar products With prices that are appropriate for each area of the market The condensed milk product line "Ong Tho and the Star," in particular, is a low-cost option that meets the needs and preferences of the majority of Vietnamese people today
Vast distribution network: Vinamilk now has a statewide distribution network that spans 64 provinces and includes more than 250 distributors and 135,000 points of sale This extensive network enables Vinamilk to reach a huge number of customers while also ensuring the introduction of new products and efficient marketing techniques throughout the country
Trang 10LO With a large corporation like Vinamilk, advertising, public relations, and marketing programs are very methodical and professional, as well as highly humane, touching the hearts of users, such as the School milk program, the Vietnam Tall Milk Fund, and the campaign "One million green trees in Vietnam." - Weakness:
With increased customer expectations and competition from international milk brands imported from the United Kingdom, the United States, and the Netherlands, Vinamilk milk no longer has a monopolistic position in the dairy market According to a survey, imported milk accounted for 65 percent of the Vietnamese market, Vinamilk for 16 percent, and Dutch Lady for 20 percent
3.0 STP strategy 3.1 Market segmentation - Geographic segmentation: Up to now, TH Group has 297 stores in Vietnam market Mainly focus on distribution in 2 big cities, Ho Chi Minh City with 77 stores and Hanoi with 73 stores In other provinces, the number of distributions is quite different, only ranging from 2 to 3 stores Due to the increasingly serious Covid situation, 2021 is also a difficult and challenging year for this brand But after the Covid-19 pandemic, TH will focus on developing branches in provinces and cities more to meet the needs of customers - Demographic segmentation: L) Ages: includes all ages (children, youth, middle-aged, seniors) Li Income: low income and middle income L) Occupation: children, students, office workers, etc - Psychographic segmentation:
L) Lifestyle: casual, fitness, healthy, etc
L) Interest: sweets, experiences, natural products, etc () Personality: sociable, cheerful, peaceful, etc - Behavioral segmentation :
Trang 11LÌ Usage status: little use
3.2 Market targeting ( Concentrated marketing )
The domestic market is the distributors, wholesalers, retail stores, supermarkets (Vinmart, COOP mart, Tmart, ) who want and are willing to distribute the company's products This is a group that has requirements for sales bonus discounts, orders on schedule
TH True milk not only expands the Vietnamese market but also expands its production scale and aims to reach customers around the world
3.3 Market positioning - Identify competitors:
TH True Milk's competitors include: Vinamilk, BV Milk, Love Farm- Vietnamese farm fresh milk, Nestle
- Determining the advantages of TH true Milk:
(1 Products are processed cleanly and pure from TH farm 1 Delicious milk flavor, sweet and natural
Li Simple, easy-to-see packaging design, bringing a feeling of freshness to consumers
LO) Diversity of products
O Using modern machinery and technology 3.4 Strategies
3.4.1 Product
O Product attributes:
Milk nut is one of the most popular snacks for all ages, so right from the beginning of the research and development of TH Truemilk Been, our leading nutrition and food experts TH has set the most important standard “Milk must be delicious” The deliciousness of the product is made up of ingredients Most of the products on the market are used as main ingredients from fresh milk powder and other ingredients
Trang 12have a characteristic aroma and very smooth taste, bringing full taste and pleasant experience.In addition, TH Truemilk Been also says "No" completely with synthetic additives or preservatives - chemicals that are harmful to health but very common
Each TH Truemilk Coffee Been product delivered to customers is a whole production process on a closed modern line imported from Europe, strictly from the selection of raw materials, to the process of pasteurization and assimilation, creaming, cooling, extracting, freezing and packing, always stored at the standard temperature, to ensure the most complete consistency in shape, taste, and quality
L) Value proposed:
The core value is still to ensure the health and safety of customers when using the product One of the customers that TH targets are children, because the immune system is still weak, TH is always committed to fresh, pure, natural products that are good for health
(1) Branding:
The birth and spectacular development of fresh milk brand TH True Milk from the end of 2010 until now has created a phenomenon in the dairy industry in Vietnam The secret of this brand is "TH's True Story" It is a source of completely fresh and clean dairy materials from TH Dairy Farm in Nghia Dan, Nghe An, applying the world's most modern technology in breeding and production; create real, high-quality products with a methodical investment strategy Thanks to these factors, the identity of TH True Milk has gone deep into the minds of Vietnamese consumers Not stopping there, TH also continues to produce other products made from pure fresh milk, including the TH Truemilk Coffee Been product line, which is loved by many customers and has good reviews for product quality TH wants to prove to consumers that not only fresh milk made from pure, but other product lines TH still ensures the conditions "completely from nature" Since then, the brand has formed in the minds of customers as a brand with the cleanest fresh milk source in Vietnam and a brand with many product lines made from pure fresh milk