final report of marketing management subject name marketing plan activities of cooker box products

Core Values Safe for health and ensures the quality of life, affirms that this is a perfect product for the health of consumers and environmental protection.. Case analysis: Bagasse food

THE FINANCIAL UNIVERSITY OF FINANCE - MARKETING

CLASS : CLC_19DMA12

Ho Chi Minh City, 2021

THE FINANCIAL UNIVERSITY OF FINANCE - MARKETING

TRƯỜNG ĐẠI HỌC

‘TAL CHINH - MARKETING

FINAL REPORT OF MARKETING MANAGEMENT

SUBJECT NAME:

MARKETING PLAN ACTIVITIES OF COOKER BOX

PRODUCTS

NGANH : MARKETING CHUYEN NGANH: QUAN TRI MARKETING

LOP : CLC_19DMA12

TEAM MEMBERS: Nguyén Ngoc Bao Tram

Truong Thuy Truc Lam

Nguyễn Thị Mỹ Hương

Bui Kim Ngân

Duong Quốc Việt

Ho Chi Minh City, 2021

TABLE OF CONTENTS

1 Basic introduction about the COMpaMy cccccccccccecsesseeseessescescesecseesecsecsessessesseeseesseeseeens 5

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1 Basic introduction about the company

1.1 Vision

OC Build a brand for the company

C1 Make more consumers know about the products and trust the company's products

1.2 Objective

() Bringing bagasse-based food containers to all markets in Vietnam C1 Customer confidence when using the product

LC Develop more new products for the company

C1 Become a source for many places

Analyze more carefully through the SWOT matrix

2.1 Market summary:

Our country is a country where people live mainly on agricultural development The cultivation of sugarcane for food production also contributes to the development of our country Realizing that the sugar companies have pressed sugarcane to get water and the remaining waste is bagasse Our company LNHTV takes advantage of those by-products to produce bagasse cans LNHTV Company understands the needs of the market and has good information about consumer tastes, understands what they need, and has methods to bring products to consumers

‘Target market: The product will be available in all provinces of Vietnam

2.1.1 Market demographics

Geography: Bagasse box products will be available in all parts of the country, from North to South By approaching high-end restaurants or branded eateries and places that care about protecting the environment Age: Clean products from nature suitable for all ages

Behavioral factors:

C1 Many movements to protect the environment have emerged, the use of plastic is becoming more and more popular Therefore, consumers tend to change products to use environmentally friendly products

C-Health is an issue that most people care about Choosing healthy products also makes consumers pay attention When buying food from a restaurant, they prioritize choosing places that have healthy containers such as bagasse, or bring glass boxes

2.1.2 Market need

Our company offers the following benefits:

Product quality: This is a completely natural product, clean materials, safe for health, does not cause cancer, and especially protects the environment Distribution: Since this is food safety and hygiene product, it will be distributed throughout the country so that consumers can easily find and use it

2.1.3 Market trend

Nowadays, environmental pollution is a serious problem The hard-to-destroy plastic waste has contributed to serious environmental pollution Many articles have pointed out the harm caused by plastic to the environment Foam boxes, plastic boxes take a lot of time to decompose, and those boxes when encountering hot foods will easily release toxins that are harmful to the body Because of that, many people are trying to implement the green living movement and green consumption Moreover, the demand for products that can replace plastic products is a problem Our company LNHTV has improved the product "bagasse box", a product that is both good for health and friendly with the environment More specifically, it can be substituted for plastic boxes and foam boxes

2.1.4 Market growth

With competition from competitors, the company experienced lower sales but still managed to retain its own market The company is trying to improve its products to give consumers more benefits Try to reduce your expenses so that you can lower the price of the product

SWOT increasingly popular T2: It is necessary to clean the

O02: People are raw materials to ensure health increasingly concerned safety

with health issues T3: It is necessary to O03: Make use of bagasse effectively preserve the

finished product T4: Product competition

among companies in the industry is increasing

many models and types

53: Health safety than

foam box, plastic box

S4: Good heat resistance,

great weight, water

resistance, good oil

resistance

S5: The first company

produced bagasse box

SO

$1, $3, O1, 02: Branding

with green, environment- friendly and safe products

ST

34, S5, T2, T3, 14: Being the

first company to produce bagasse boxes, so have a lot of experience in handling raw materials and focus on health and safety

W (WEAKNESSES)

W1: Not absolutely safe

and hygienic

W2.: Difficult to store for a

long time because it 1s easy

to produce mold

W3: There are many

limitations compared to the

paper box WO

W1, W2, W3, O1, O02, O03: Business restructuring strategy WT

W1, W2, W3, T1, T2, T3: Quality improvement strategy

in the manufacturing process

3.2 Competition

Competitor analysis is the process of identifying firms in the market that offer products or services similar to their own and evaluating those competitors based on a predefined set of business criteria

Because bagasse box is a new product entering the Vietnamese market, it will

be difficult to compete with competitors in the same industry such as Queenpack or Biogreen Because competitors are currently being favored by many customers, hygiene, food safety, and environmental protection are the top priority But also, there are other competitors in the industry such as plastic food containers of RVC, Biozone, or foam boxes that are currently used very popularly and frequently in Vietnam today It meets the needs of food storage and saves time, the disposable foam box has become an essential item but it will harm the health of the user

The following are competitors in the same industry:

Queen Pack's main products: paper box for food with many designs: rice box, sushi, salad, paper food tray, noodle cup, paper cup/porridge/pho, pizza box, fried chicken, food snacks, paper bags, spoon, napkins

Queen Pack has a serious focus on manufacturing standards and quality: 100% raw materials; modern factory, ISO standard; 100% certified food safety and hygiene, 100% ensuring consumer health

RVC Co., Ltd specializes in providing transparent plastic boxes, plastic fruit boxes, plastic fruit boxes, plastic lunch boxes, 4-compartment lunch boxes, 5- compartment lunch boxes,

RVC strives to improve management methods, train human resources and apply advanced technology to bring customers the best quality products

Product Offering

Currently, due to the nature of each person's work, today and time and health

is a very important issue for them Eating is essential for everyone Therefore,

it is very important to have products that have high food safety to protect the health of the community, so our company decided to produce products made from natural and biodegradable materials to protect the health of the community protect our communities as our environment Our company's products are guaranteed to be waterproof and oil-proof Create firmness and rigidity

- First, the 1-compartment bagasse bag with lid is for customers to use at breakfast and it's for dry food It's convenient and tidy

- The next product is the 2-compartment Bagasse Bag with Lids for guests with a higher need for food storage, it's a little bigger

- The third item is the 3-compartment bagasse bag with a lid for customers with dry and liquid foods This product is more special and convenient

- Final product is Bagasse Bowl with lid, it mainly contains food such as pho, soup,

Figure 3.3.1 Compartment Bagasse Bag with lid (Source: Internet)

3.5 Critical Issues

Ensuring food hygiene and safety for customers when using it

Gives good mechanical strength, can withstand water and high temperatures,

to hold food

Create peace of mind and trust for customers and encourage them to use products that protect their own health and the environment in their communities

Offer appropriate pricing strategies for the domestic market

Ensure not to cause cancer and other diseases when using the product

O Increase consumption: Encouraging consumers to use more products means consumption increases There are two main ways to increase your consumption including increasing your consumption per serving and increasing your frequency of use

Increasing market penetration: this is a strategy to attract new consumers

to the product, usually through programs such as trade marketing: trial gifts, deep discounts

Increase use value: Increasing usage is encouraging consumers to pay higher prices for products that add new functionality or are positioned in a higher upscale position

Increase loyalty: Increase consumer loyalty to the brand by convincing them of the irreplaceable strengths of the product and programs and offers exclusively for loyal customers

Reduce production costs by 1% year over year

4.4, S-T-P

STP analysis is an indispensable job in the process of building strategies and organizing the implementation of Marketing programs For a completely new case yet to be released, it is of particular importance Any business that wants to sell products or services is required to select target fields for their business With a new product on the market such as one made from a link, it is necessary to clearly analyze the S-T-P strategy to come up with suitable Marketing activities for the less-known product

The fact that there are so many target markets makes it impossible for a product to fulfill the requirements of those markets We should focus on one market as the target market Or S-T-P helps businesses discover and take advantage of market segments that are still open and needs not yet discovered Help increase the competitiveness of businesses through the creation of differentiated innovative products

That is what S-T-P strategy analyzes so that the business can successfully execute the Marketing process

The S-T-P strategy includes the phases:

4.4.1 Target Markets

LC Market segmentation is the process of dividing a market into segments based on different characteristics in terms of product needs, consumer characteristics or behavior

1} Market segment is a collection of customers who have similar characteristics in response to marketing impacts from businesses

1 The benefits of a business segmenting the market: It saves you time and money, builds better relationships with your customers, helps you identify strengths, weaknesses and muscles for its brand

LI There are 4 types of market segments:

1 Segmentation by geographical area

2 Segmentation by demographic - sociological factors

3 Segmentation by psychological characteristics

4, Segmentation by consumer behavior

For environmental protection products, but rice boxes are made of bagasse, you can segment the market according to psychological characteristics With the mindset of using products that protect the environment of everyone like today Healthy lifestyle followers who are interested in society will be segmented into a market

We can rely on segmentation criteria according to consumer behavior to segment the market for lunch boxes made from bagasse Based on the consumer scenario and the benefits that the customer is looking for in the product The benefits here that customers look for in the product can be the convenience and high environmental protection, it minimizes the amount of waste, discharged into the environment

After market segmentation, we continue to evaluate the market segments of the business For this market segment, the competition facing businesses is not high

4.4.2 Positioning

With focus on one product, businesses choose Marketing to focus Businesses will have to focus on a certain market segment, but the disadvantages of Focusing Marketing are sometimes limited, if there is a change, it will immediately affect the business

Based on business capabilities and objectives, product uniformity, market uniformity, competitor's Marketing strategy and company's competitiveness to choose the right strategy

4.5 Market Research

4.5.1 Research Problems

With the fast pace of life in Vietnam, convenience is becoming more and more popular, so more and more convenient products are born, but besides the convenience are harmful substances affecting health and destroying the environment living

The number of people interested in green and eco-friendly products is increasing, many brands abusing indigestible products are condemned, boycotted, people are more and more aware of protection by reducing hard-to-degrade plastic waste and replacing green products that are environmentally friendly

Therefore, the research on demand for bagasse canned products has been mistakenly evaluated by the group of people to evaluate the feasibility of the product and the level of market acceptance

Research Objectives

Turkey Targets

- Determine that the bagasse box is exactly the product the customer is looking for

- The level of consumer reaction if there is a product on the market

- Brand awareness and brand knowledge of customers

- The level of market acceptance of the product

Description Goals

- Determine tastes of models, types,

- Number of products to meet customers’ needs

- The price the customer will pay for the product

Test Target

- Customer response to varying degrees of thickness and size changes

- Will the price change affect customer behavior?

The survey is done in order

- Quality testing for consumer needs

- Test the level of satisfaction with new products of consumers who are in the segment that Biogreen targets

- Research on bagasse cans consumption related to the dynamics of Marketing tools

- Research consumer brand awareness of the Biogreen brand