Marketing Plan Nhóm Carrot.pdf

5.1 Implementation5.2 Contingency planning Chapter 1: Executive Summary 1.1 Introduction of Vinamilk brand Vinamilk is the leading enterprise of the dairy processing industry in Vietnam

UNIVERSITY OF FINANCE AND MARKETING

SUBJECT: MARKETING PLAN

VINAMILK’S BUTTERFLY PEA FRESH MILK

MARKETING PLAN

Hồ Chí Minh City,november, 2021

UNIVERSITY OF FINANCE AND MARKETING

VINAMILK’S BUTTERFLY PEA FRESH MILK

MARKETING PLAN

Group member:

Cai Thị Diễm QuỳnhNguyễn Vân AnhNguyễn Ngọc Thiên KimLâm Hồng ThắngTrần Lê Minh Anh

TP Hồ Chí Minh, november, 2021

INSTRUCTOR’S COMMENTS

(This part is for teachers to directly comment on the group's marketing plan.)

Score in numbers Instructor's signature

(Score in words) (Instructor's name)

Due to the limited implementation time and limited professional knowledge, it is difficult to avoid errors in the research process We are looking forward to receiving many comments from you so that I can improve myself more and more perfect and expand my knowledge for future work.

Finally, we would like to wish all teachers and teachers good health, always have a lot of positive energy so that they can continue to pass onuseful knowledge to the next generations

sincerely thank!

TABLE OF CONTENT

1.0 Executive summary

Introduction of Vinamilk brand

1.2 Product Summary

2.0 Situation Analysis

2.1 Market Summary

2.2 Analysis of strengths, weaknesses, opportunities and threatsm……

2.3 Competitors………

2.4 Product Offering

2.5 Keys to Success

2.6 Critical Issues

3.0 Marketing Strategy

3.1 Objectives

3.2 Target Markets

3.3 Positioning

3.4 Strategies

3.5 Marketing Mix

3.6 Marketing Research

4.0 Financial

4.1 Sales Forecast

4.2 Expense Forecash

o 4.2.1 Marketing expense

4.3 Total

5.0 Controls

5.1 Implementation

5.2 Contingency planning

Chapter 1: Executive Summary

1.1 Introduction of Vinamilk brand

Vinamilk is the leading enterprise of the dairy processing industry in Vietnam, in addition to strong domestic distribution with a network of more than 220,000 sales points covering 63 provinces and cities, Vinamilk products are also exported to 43 countries in the world such as the US, France, Canada, Poland, Germany, Japan in the MiddleEast, Southeast Asia To continue to maintain the No 1 position in Vietnam market and move towards the goal of becoming one In the Top 30 largest dairy companies in the world in terms of revenue, Vinamilk determined a development strategy with 3 main pillars being implemented, including: leading in innovation with high applicability, consolidate the leading position in the dairy industry in Vietnam, to be the most value-creating dairy company in Southeast Asia

Vinamilk always aims at the goal of "Becoming the leading symbol of trust in Vietnam about nutrition and health products for human life", also for that reason, they always carry a noble mission

“Vinamilk is committed to providing the community with top quality and high-quality nutrition with its own respect, love and high

responsibility for human life and society.”

themselves different and stand out With its eye-catching colorful drink, Vinamilk has launched the product line "Butterfly flower fresh milk" which is a harmonious combination of fresh milk and butterfly pea flower For health, in butterfly pea flower contains glycosides -

nutrients that have been shown to increase the production of collagenand elastin in the skin structure As a result, supplementing with butterfly pea flower is the skin that increases collagen content and quality, awakens firm and tight skin, increases suppleness and elasticity, prevents and fades wrinkles, according to monitor crow's feet, reduce sagging and burn In butterfly pea flower, there are two valuable compounds, anthocyanin and flavonoid, and at the same time has very good value for health and beauty In particular, flavonoids are considered a "panacea" for cells, helping to repair damage in cells, reverse aging, prevent cancer and prolong youth for users.

Chapter 2: Situation Analysis

Vinamilk:

- As a leading nutrition corporation in Vietnam;

- Topping the Forbes ranking with 50 best listed companies, 1 in 10 biggest tax paying companies in Vietnam;

- There are more than 10 brands and 18 million products serving the nutritional needs of Vietnamese people every day

Because there have been certain successes in the dairy industry in Vietnam, Vinamilk has decided to launch a new line of fresh milk, which is butterfly pea flower fresh milk The dairy industry has great potential when consumption demand is forecasted to grow by 9%/year, reaching 27-28 liters of milk/person/year in 2020, an increase of nearly one and a half times compared to the present Currently, milk consumption per capita in Vietnam is still low

compared to other countries in the region and the world

The use of butterfly pea flower is very good for everyone's health, so using butterfly pea flower every day will help us such as: healthy weight loss if you are in the process of weight loss, pain relief, fever reduction, sugar control blood, protect eyes, reduce stress, improve cardiovascular health for those who are suffering, prevent cancer verywell, Especially, the tea made from pea flowers also helps people Middle age and older prevent aging to help healthy and beautiful naturally

2.1 Market Summary

Our main target customers for butterfly pea flower milk are people 16years and older, office workers, women, the elderly because butterfly pea flower is very good for health (reduces stress, improves health)

eyesight, prevent depression, reduce fatigue, useful for diabetes, anti-aging, prevent and support cancer ) Our target audience is almost everyone, however, for children under 16 years old, when using it, it must be supervised by an adult Although this segment accounts for a large number, our company has launched many products for children before, so it will still retain that number of potential customers.

Targets

and parts

Customer's need Features and respective

benefitsChildren

from

10-16 years

old

Supports brain development, height adds energy for children's outdoor activities

Contains vitamins A, E, B1 to support bright eyes,

supplement children's bones and joints development, harden bones, and meet children's energy needs.Adults

from 18 to

30 years

old

Supplement the nutrients needed for a healthy body

Protect and maximize healthybones and joints, increase eyesight, lose weight

Adults

from 30 to

60 years

old

Health care support Prevent cancer, control blood

sugar, reduce stress, improve cardiovascular health for those who are suffering from it

2.2 Analysis of strengths, weaknesses, opportunities and threats

materials to serve production services to meet the needs of domestic and export markets Milk materials imported by Vinamilk to produce powdered milk have 100% origin/origin from the US, Australia, New Zealand, EU and Japan.

Dairy products have good reputation for butterfly pea flowerHealthy weight loss if you are in the process of weight loss, pain relief, fever reduction, blood sugar control, eye protection, stress relief, improved cardiovascular health for those who are suffering, prevention very good anti-cancer… That makes the product have a good impression on users

Butterfly pea flower production facilities are expanding day by day

2.2.2 Weaknesses

Unable to control the source of raw materials

- Due to the increasing demand for fresh milk of users, domestic raw materials only meet about 30% of production needs, and 70% are imported from New Zealand, the US, the EU and Japan Therefore, input costs increase and product prices also increase However, Vinamilk is also promoting the development of raw material areas to serve the increasing needs of the domestic people

The market share of powdered milk is not high

- With increasingly stricter demands from users along with

competition from foreign milk brands, imported from UK, USA, Netherlands making Vinamilk milk no longer hold a monopoly position in the dairy market According to a report, in the Vietnamese market, imported milk accounted for 65%, Vinamilk accounted for 16% and Dutch Lady accounted for 20%

2.2.3 Opportunity

The supply of raw materials is being supported by the government, imported materials have a reduced tax rate

Currently, the Government has introduced many preferential policies

to reduce the burden on Vietnamese dairy enterprises in order to promote the development of the domestic dairy market Strengthen price competition with imported goods Import tax on dairy materials

in Vietnam is lower than commitments with WTO This is a good opportunity to help businesses reduce production costs Because at

present, the source of imported milk powder materials accounts for 75% of raw milk in Vietnam.

The number of potential customers is high and there is a great demand

The demand for dairy products of Vietnamese people is very large Onaverage, per year, milk consumption per person is 14 liters/year This

is considered a great opportunity and potential for Vinamilk to reach out in the dairy industry In addition, Vietnam is in the period of golden population, so the demand for milk is very large Vinamilk is currently the No 1 fresh milk brand in Vietnam, so there will be many opportunities to grow and expand market share

Competitors are gradually weakening and Vietnamese people's thinking about using milk is gradually changing

The Vietnamese dairy market has witnessed the participation of manybusinesses, with many Vietnamese dairy brands producing fresh milk

to the market, creating product diversity and competition But that is also why there have been many incidents of food safety, poor quality products causing distrust among consumers, causing them to return

to using imported brands of portable milk or fresh milk brands domestic names such as Vinamilk

The campaigns "Vietnamese people use Vietnamese goods"

contribute to promoting the competition of domestic brands, includingVinamilk This is a good opportunity for Vinamilk to accelerate its breakthrough and affirm the number 1 brand of fresh milk in Vietnam

2.2.4 Challenge

Market entry of many strong competitors

The first challenge to mention is the increasingly fierce competition with domestic and international dairy brands Vietnamese consumers have more and more choices about dairy products when big brands such as Nestle, Dutch Lady, Abbott… "landed" in Vietnam

Vietnam has many "open door" policies, cutting taxes on many products, including dairy products Reduced tax on powdered milk from 20% to 18%, condensed milk from 30% to 25% This is a great opportunity for foreign businesses to penetrate the Vietnamese market, opening up many choices for consumers

The source of input materials is not stable

Despite investing in many dairy farms according to international

standards, the company's main source of raw materials still has to be imported from abroad Not to mention, dairy farmers are no longer interested in their current work due to low profits, being forced by buyers of raw dairy cows, causing a significant decrease in the domestic milk material source This forces Vinamilk to compete with many other companies that purchase intermediate dairy ingredients.Customers: the export market has many risks, customers prefer to use foreign milk

90% of Vinamilk's export profit comes from exporting to the Iraqi market However, this is one of the most unstable regions in the world, so its export profit to this market is not as much as expected

On the other hand, Vinamilk's main business product is fresh milk: food has a direct impact on consumers' health, so the quality and nutritional content of the product is always what users care most about The "foreigner" mentality of Vietnamese consumers, preferring

to use portable foreign products over domestic products is also one ofthe challenges of Vinamilk in particular as well as the domestic dairy industry in general

Butterfly pea flower is a product with great uses, but few people know

it, so people are still afraid to use it

2.3 Competitors

Product

Currently, no brand has registered to produce butterfly pea flower milk, so the competition between brands has not really happened.Competitive pressure on customers

The end customer, has the potential to put a lot of pressure on companies about the quality of their products The brands of dairy products are diverse and interchangeable, the price factor is no longer so important to consumers when choosing dairy products Companies compete with each other by quality, product variety, brand strength, etc., then price For dairy products, when the price of raw materials is high, the dairy company can raise the price of the product that customers still have to accept Therefore, the bargaining power of buyers is low

As for resellers, nutrition centers, the company will give discounts andcommissions Distribution points such as nutrition centers, hospitals, pharmacies, etc can gain significant power over dairy companies, as they can influence the retail customers' decisions about which dairy

products to buy/ finally through consulting, product introductionThreat of substitute products

In fact, dairy products always have a strong position in the market with very few other substitutes due to the characteristics of milk as

an essential nutritional supplement For liquid milk, the substitutes that are likely to reduce the company's market share are nut milk, soymilk, cereal drinks or soft drinks with milk, etc can be assessed The dairy industry is less vulnerable to substitute products

Vinamilk's 5 competitive forces model – the threat of substitute products (Source: Internet)

Barriers to entry into the industry

In general, the barriers to entry of the dairy industry are quite high given the costs of entry, product characterization and the

establishment of appropriate distribution channels:

– The cost of entering the industry, in general, is not high but must belarge enough for advertising, research / development needs

However, for liquid milk and yogurt products, it is quite high

– Product characterization: The Vietnamese dairy market has so far present most of the major dairy companies in the world, in which the big milk firms have owned a certain market share and have not changed in recent years Therefore, new competitors who want to enter must have a strong investment to entice and change the market's loyalty to existing milk companies

-Distribution channels: The current product distribution channels of the dairy industry have been fully utilized by existing businesses Therefore, new entrants must convince these distribution channels byaccepting high commission share Therefore, it can be concluded that the pressure from new entrants is not significant, but competition will mainly take place within the existing industry

Bargaining power of suppliers

Vinamilk in particular and dairy enterprises in general have quite highbargaining power with suppliers In terms of the size of the dairy industry, 95% of dairy cows are raised in households, only 5% are raised in specialized farms with a scale of 100-200 heads or more (VEN, 2009) This shows that people raise cows spontaneously, not paying attention to the process, so the quantity and quality are not stable, reducing the ability to negotiate with production companies The lack of management experience, the small farm size, the high

rate of reproductive disorders and diseases in dairy cows make dairy farmers very disadvantageous Therefore, domestic dairy companies take the initiative in negotiating the purchase price of input milk.

Vinamilk's 5 competitive forces model – The bargaining power of suppliers (Source: Internet)

Competition among competitors in the industry

Vinamilk is currently facing relatively high competition from domestic and foreign brands such as: TH True Milk, Nestle, Abbott, Mead Jonson In the future, the dairy market will continue to expand and expand competition increases

of 38% and accounted for 79% of the market share

•Fresh milk: In 2007, fresh milk grew at 18%, accounting for about 26% of the company's total revenue and had the second highest contribution to revenue compared to all the company's product lines Vinamilk fresh milk accounts for 35% of the market share This is a highly diversified product line with many brands However, Vinamilk had to cede the leading position in this market segment to Dutch Lady because this company has stronger public relations and better marketing strategy

• Instant milk powder and cereals: accounted for 24% of Vinamilk's

2007 sales Vinamilk (together with Abbott and Dutch Lady) is one of the three leading companies in the Vietnamese market in terms of powdered milk sales, in which Vinamilk accounts for 14% market share

•Yoghurt (accounting for 10% of revenue): Vinamilk drinking yogurt accounts for 26% market share and edible yogurt accounts for 96% market share

2.5 Keys to Success

For a nutritional product, quality is always put on the top as the key to

Vinamilk's success In addition, the brand identity is easy to

remember, vivid advertising images, catchy sound also easy are attracting the attention of customers, in addition to that, customer relationship factors, implementing customer retention strategies and measuring customer relationships are also important All of the above, it is certain that Vinamilk is always at the top of the dairy market, profitable and sustainable

2.6Critical Issues

Vinamilk is continuously the market leader in the liquid milk industry,

in order to maintain its No 1 position, the issues that Vinamilk must always aim for are:

Consumers:

• Provide safe and top-quality products

• Diversify products and create new values for products to improve & enhance human health

• Products are made at the right price

Shareholders: Ensure shareholders a safe, profitable investment in a sustainable way

State: Comply with the policies and state regulations of all countries Vinamilk operates

Employees: Bring satisfaction and satisfaction to employees about a safe working environment, personal development and competitive income

Partners: Cooperation for development on the basis of mutual

benefits, transparency and social responsibility

Community: Be responsible, share values and join hands to develop the community

Chapter 3: Marketing Strategy

Second-Year Objectives: Our second-year goal is to break even on