Tiểu luận khởi nghiệp course start up

Our team members proposed a project to establish a traditional wine shop with 1 ground floor and 1 floor in Ho Chi Minh City called PLATYPUS TRADITIONAL WINESHOP.. At PLATYPUS TRADITIONA

MINISTRY OF EDUCATION AND TRAINING

HO CHI MINH CITY UNIVERSITY OF FOREIGN LANGUAGES -

INFORMATION TECHNOLOGY

FACULTY OF TOURISM AND HOSPITALITY

Semester 2, Academic Year 2024

Examiner’s comment

TABLE OF CONTENTS

EAxioov con na 8

3.3.1 Enterpr1se pTOdU€ES: 1L 220112212 1121112215 2111111511511 111 rệt 14

3.3.3 Scarch for loCaHOT& TS SH HH HH HH HH Hà Hit 14 3.3.4 Outline the project and evaluate feasibiÏity 2c 2c c2 14 3.3.5 Development miÌesfones -c c1 2112212211111 15115118111 se ey 16 3.4 Legal status and ownersHIp -:- -c c1 2211121112111 151 1151121111111 tr 16

4.1 Market Segmentation and target market 2c 222 222211211122 11x rrkey 17 4.1.1 Market Segmentat1OH: 22c 12111222121 112 11155115115 1111118118 reo 18 4.1.2 Target marK€t: 2c 121112211121 2211 1111112111211 1011 1181110111011 Hay 20

GEN 90))02:0000 00010), -16À./91⁄)ƒIẠiđiiiÝỶŸẢŸỶẢẼÝÃẼỶÃỶÃẢÝẢÝẢÝÝỶÝỶÝ 24

GEN No) 0 (0 ï( vi nêŨủỖẦ 24 4.3.2 Ơng Đường wine §(OTe + s11 122111121 11021 11H g Ha rau 25 4.4 Estimated o£annual sales and market shafe - ác nS nen mày 26 44.1 Estimated ofannual §aÏes - ĩ1 12t S2 9v TH nh thay 26 4.4.2 — Market Shafe uc HH HH HH HH Hy 27

V THE ECONOMICS OF THE BUSINESS So nen rep 28 5.1 Revenue drivers and profit ắaTØIN§ - - 22c 22 1121122111211 3 211112 key 28 5.2 One-time expenses, Fixed and variable cosfs - - c2 1222x222 2s 29 5.3 Break event chart and calculation c3 2t 1121511 11111111181 k tren 30

VỊ, MARKET PLUAN cọ HH ng TH Hà TT 00 90.0904 31 6.1 Marketing s(raf€ØV L0 020121221211 11111515 111110115 111k KH cờ 31 Pre@-OPeHing PNASC? SẺ 31 Operinne PVASC? ooo NNHĂaẢ.Ả dt Ca daectdsaetestietenesieees 32 [0022/01/5801 TNYNỚớớG 32

VI DESIGN AND DEVELOPMENTT So HH HH ng ng khu 38 7.1 Concept developmeiI - - - - c1 2 1222112111211 151 1511511115 1111 8111111811111 gx 38 Win na 40 7.3 Design and prototyping/ service bÏuepTInI c s11 cv se 42

7.5 Piot and full-scale launching - c2: 222122112211 1121212111 1111811512 ke 43 VIHL EINANCLAL PRO.JECTIONS c HH ng HH ng H hhgh 45 8.1 Sources and uses of funds statement eee 0c 2n vs v2 HH nên 45 8.2 Rcturn on ITIV€SfINHI 0 202 122 112121111111 111 111111101 11 12111111111 HH hy 45

KT Ha( la cưẻíiÁiÝẢÝÃÝÃÝÃÝ 45

L EXECUTIVE SUMMARY

Recognizing that traditional wine consumption is becoming increasingly popular, particularly during the holidays Our team members proposed a project to establish a traditional wine shop with 1 ground floor and 1 floor in Ho Chi Minh City called PLATYPUS TRADITIONAL WINESHOP The business will specialize in providing traditional wines and dry specialties from Vietnamese provinces and cities, with the aim of meeting customer needs and promoting traditional culinary culture to foreign tourists At PLATYPUS TRADITIONAL WINESHOP, we not only provide diverse and quality products, but we also build a high and flexible service standard according to customer requirements, promising to bring customers the best experience

The business's management team is made up of shareholders of the project who have knowledge of the F&B industry Through the process of understanding, analyzing, and researching the market, our team comes up with SWOT, product promotion, and sales strategies We also designed a financial projection table that includes investment costs, raw material imports, advertising, etc The total investment capital for the project is 2,500,000

VND It is expected that the shop will achieve an after-tax profit of about 1,450,000,000

VND in the first year of operation All costs and prices given are based on references and

research by team members

During the project planning process, our team realized many potential development opportunities; however, there are also a few risks we need to consider, such as market risk, competitive risk, source of goods risk, and management risk To increase perfection with the least risk, our business will plan and conduct more detailed market research to evaluate customer needs and competition in the market Build an effective marketing strategy to attract customers Enhance professional skills training for employees and implement strict financial management to ensure project profitability

With careful and detailed planning by team members, we believe that the project called PLATYPUS TRADITIONAL WINESHOP will be successful and bring customers the best shopping and wine enjoyment experiences

IL INDUSTRY ANALYSIS

H.I Industry size

The beverage production and business industry is currently an economic and technical industry that makes an important contribution to the socio-economic development of Vietnam Currently, the alcoholic beverage industry in general and the wine industry in particular are developing strongly

The products of this industry are used more and more widely as people's income and living standards are increasingly improved Enjoying drinks and rich cuisine is also the desire of foreign tourists when coming to Vietnam The beverage industry therefore plays

a role in ensuring market stability, promoting the development of industries such as tourism, services, and trade Thereby contributing significantly to the State budget, estimated at about 60 tnllion VND/year

The beverage industry in general and the wine industry in particular also create direct and indirect jobs for millions of workers in the production and business chain The process includes supplying raw materials and auxiliary materials for production, packaging, packaging, transportation, storage, distribution, direct consumption services,

etc

- Situation of the spirits industry in the first half of 2023

According to Mr Rodolphe Lameyse, CEO of Vinexposium, with a young population and growing middle class, Vietnamese people are very sensitive to social media trends and willing to try a variety of foods and drinks with new flavors Today's young generation also has a desire to enjoy unique alcoholic drinks that are different from previous generations

This is a global trend you can see in many countries such as Korea, China and even Europe Vietnam is no exception to the trend as young people begin to pay more attention

to cocktails This is also the reason why spirits are becoming an increasingly important field in Vinexposium's events - the world's leading specialized event organizer in the wine and spirits industry

According to VIRAC, Vietnam's strong alcohol production in 6 months decreased by x% (20%) compared to the same period in 2022

According to VIRAC, the causes of the decline in the spirits industry are pointed out that: Prices of key raw materials such as bottles, corks, labels, rice, and logistics costs have cooled compared to 2022, but compared to the period 2015-2019 before the epidemic, they are still at a high level

Vietnam's strong alcohol production decline, in addition to macroeconomic factors and inflation, also comes from the weakness of the largest domestic production enterprise, Vodka yeast, due to internal turmoil leading to decline weak in production and business

- The impact of tax rates on the production and business situation of Vietnam's wine industry

Previously, on April 19, 2023, the Ministry of Health sent official dispatch No 2275

to the Ministry of Finance providing opinions on the proposal to develop a Special Consumption Tax Law project In the official dispatch, for alcohol and beer products, the Ministry of Health requested to update the data affecting the decision to request tax rate adjustment for alcohol and beer products

The Ministry points out that alcohol consumption is currently increasing at an alarming rate and causing many serious consequences for health, economics and society Scientific evidence shows that alcohol is the direct cause of at least 30 diseases and 1njuries At the same time, it is also the indirect cause of more than 200 diseases in the international classification of diseases ICD 10

H.2 Growth rate

Chairman of the Vietnam Beer - Alcohol - Beverage Association (VBA) Nguyen Van Viet said the domestic consumption market has decreased by 20%-30%

"2019 is the peak year of the beverage industry in general and beer in particular From

2019 onwards, on average each year the beer industry grew by 5%-6%/year If we follow

that growth rate, by 2022 the industry will Beer must increase by 20% compared to 2019, but in reality, in 2021 the beer industry will decrease by 10%-15%, in 2022 it will decrease by about 5%-7% compared to 2019 In 2023, the beer industry will not show many signs of improvement "From now until the end of the year, the beer market 1s still very gloomy,” Mr Viet said

Please be reminded that by 2022, Vietnam will rank 2nd in Southeast Asia and 3rd in Asia in terms of average alcohol consumption per person The average alcohol consumption per capita in liters of pure alcohol per year is 8.3 liters, equivalent to one person drinking about 170 liters of beer per year

Therefore, the gloomy data of the beer and alcohol industry in the Vietnamese market is a clear testament to the global trend of reducing alcoholic beverage consumption

H.3 Sales projections

Data from Bao Viet Securities Company (BVSC) has been proven, the total revenue

in 2023 of the group of listed beer and wine businesses will decrease to more than 45,000 billion VND from more than 55,000 billion VND in 2022; Total profit after tax decreased

by 23%, down to nearly 5,100 billion VND

To inhibit the decline, recently, many beer and wine businesses have had to restructure their operations to adapt to market fluctuations In 2023, although revenue decreased, Habeco still sharply increased trade discount expenses to 13%, equivalent to a value of 143 billion VND This is a commission/priority discount for customers who buy

in large quantities At the same time, the Supply business cut costs, spending on advertising and promotions for the whole year was 580 billion VND, a decrease of 17% Sabeco also improved many operations and "tightened its belt” to reduce operating costs, including advertising and promotion costs The 2023 consolidated financial report said that advertising and promotion costs are 2,814 billion VND, down 254 billion VND compared to 2022

Along with weak demand causing people to limit spending, the beer market continues

to witness a shift in customer demand from the near-premium segment to the mass

4

market, this is an opportunity for domestic beer companies with average products narrowing the profit gap with foreign beer businesses or content businesses in higher

segments

According to BVSC, thanks to owning a number of popular products such as Lager, Export, 333, Lac Viet , Sabeco recorded a smaller decline in sales than Heineken, when competitors relied more on the Tiger brand in the near-market segment high cap The shift of business from in-room consumption channel (on-trade) to purchase channel (off-trade) is applied by many companies Limited, Sabeco started offering products on e-commerce platforms (e.g Shopee Mall) in November 2023 Habeco set up beer retail stores on the e-commerce platforms Tiki, Lazada, and Shopper, helping to better serve the needs of buying for home use

Recently, a number of companies provide non-alcoholic beer such as Sagota beer of Saigon Binh Tay Vietnam Beer Group Joint Stock Company (Sabibeco), hoping to bring

a new consumption trend However, the majority of non-alcoholic beer products come from imported sources except Heineken non-alcoholic beer, Suntory All Free beer, Asahi Dry Zero beer

Although the alcohol sales industry in Vietnam has long-term prospects and has a young and active consumer base, consumer behavior cannot immediately switch from alcoholic beverages to alternative products such as non-alcoholic wine, non-alcoholic beer , the difficulties ahead may increase

The management process for all road traffic (including regulations on zero alcohol concentration) is expected to be approved at the 7th National Assembly XV Forum in mid-2024

In addition, if the Special Consumption Tax Law is amended, including changing the method of calculating and adjusting performance tax on wine and beer, it will become even more difficult for businesses in the alcoholic beverage industry According to the proposal of the World Health Organization, special consumption tax education should increase at least 10% on the selling price of beer products, encourage consumption restriction, protect people's health and regulate increase in cash receipts

5

H.4 Key success factors

- Novelty

Regarding the current wine industry, it can be seen that the wine market is dominating

a very large market share, so a traditional Vietnamese wine store will bring a new breeze

to the industry, bringing a new type of experience to tourists, diners will be able to experience the specialties of many regions without having to go far

- Quality and variety:

Stock a selection of high-quality traditional wines such as San Ling, Mau Son, Ba Kich,

About the quality, San Lung is cooked from carefully selected upland sticky rice, combined with traditional forest leaf yeast to create a unique flavor This wine is cooked with a sophisticated manual process, requiring meticulousness and experience cook's experience From selecting ingredients, soaking, brewing to distilling, everything is done carefully Mau Son is cooked from upland sticky rice grown in the mountains; Mau Son

is the main ingredient for making wine Upland sticky rice has large, round, plump grains, contains a lot of starch and high sugar content, helping to create the delicious flavor characteristic of wine There are traditional manual processes, preserved for many generations From selecting rice, soaking, brewing to distilling, everything is done carefully and meticulously; At the shop, customers will be served with a variety of choices from 11 types of wine typical of each region such as Mau Son wine from Lang Son province, San Lung wine from Lao Cai province, And offering regional specialties and catering to different flavor preferences and with this dry product we provide such as dried buffalo meat, dried beef, dried chicken

- Origin and authenticity:

We can highlight the origins and traditional wine production methods of the Regions Collaborate with local producers and emphasize cultural significance The wines sold in the store will be provided by local producers, for example, San Lung wine will be provided by the San Lung wine production and trading cooperative This is the largest

6

San Lung wine production facility in San Lung village The cooperative was established

in 2010 with the participation of more than 30 households The cooperative has a traditional San Lung wine production process, ensuring quality and food hygiene and safety; Mau Son wine will be produced by Tan Truong Loc Joint Stock Company, the most famous Mau Son Dinh wine producer today The company has a modern factory, a closed production process and a team of experienced staff The company's Mau Son wine

is highly appreciated for its quality and flavor;

Of course, to ensure authenticity, each bottle of wine will need to have a genuine stamp to avoid counterfeiting and be transported directly from the production facility to the store

- Staff's knowledge and storytelling

We have to train the staff to be knowledgeable about the wines' origins, brewing processes, and cultural significance Let them tell the stories behind the bottles

- Providing a completely new experience for customers

Create an atmosphere that reflects Vietnamese traditions Offer samples, tastings and food pairings to educate and engage customers

- Marketing and sales:

Use a combination of marketing strategies Target both the Vietnamese community looking for familiar favorites and customers (especially tourists) curious to explore new flavors Consider an online presence, local events, and partnerships with restaurants IL.5 Industry trends

In 2023, customers crave experience above all else That doesn't necessarily mean that price point and quality take a back seat, though Both play a part, to some extent, in the way we experience the process of choosing, purchasing, and enjoying the goods and services we spend our money on

e¢ Rise of wine bars: Wine bars that double as shops are gaining popularity These offer a casual atmosphere to try different wines by the glass before buying a bottle

¢ Competition from supermarkets: Although supermarkets generally offer a wider selection, some traditional liquor stores may be affected.

I COMPANY DESCRIPTION

Company’s name: PLATYPUS TRADITIONAL WINESHOP

Address: 51-53 Hai Ba Trung Street, Ben Nghe ward, District 1, Ho Chi Minh city

Location size: 80m’ (1 ground | floor)

TIL1 Mission statement

“PLATYPUS TRADITIONAL WINESHOP was born with the mission of providing all customers with useful knowledge about traditional wines and regional specialties, with products from the provinces and cities of Vietnam through experiencing the products products and services we provide.”

Traditional wine is one of the popular drinks in Vietnamese households, used in meals and gatherings since ancient times Nowadays, some restaurants, instead of only providing foreign wine, sell some traditional wines to meet the diverse needs of Vietnamese people

Coming to PLATYPUS TRADITIONAL WINESHOP, you will discover the richness of typical wine lines from different provinces and cities Besides, you will receive dedicated advice from the staff and especially you can try a drink for free before deciding to buy The shop is committed to providing quality bottles of wine, each bottle of wine always has a clear origin and is always preserved according to standards Not only that, we also provide food to accompany dry specialties in Vietnamese regions, very suitable when used with traditional wines

3.2 Products and services

3.2.2 Product

a Main Product:

There are 11 types of traditional wines:

No | Product | Incredient | Price/Liter | Origin

1 | San Lung | Nép 270,000 | Lào Cai

Dried Deer: Dried deer is another delectable choice

in Vietnamese cuisine, made from fresh deer meat The

meat is cut into pieces and marinated with spices before §§

being air-dried With the characteristic aroma of deer

meat, dried deer is a tasty and enticing dish

Buffalo Hanging Over the Stove: Buffalo hanging

over the stove is a unique dried dish made from fresh ™

buffalo meat The meat is cut into pieces, marimated with

spices, and then air-dried by hanging over a stove With z =

its tender, savory meat and the distinctive flavor of

buffalo, this dish offers a unique culinary experience

Dried Squid: Dried squid is a popular seafood

choice, crafted from fresh squid The squid is cleaned,

cut into pieces, and air-dried, preserving a salty sea

flavor, light tenderness, and suitability as an ingredient

for various delicious dishes

12

Dried Chicken with Lime Leaves: Dried chicken with

lime leaves is a unique dried dish with the distinctive

flavor of lime leaves Chicken meat is cut into pieces,

marinated with spices, and air-dried under the shade of

lime leaves, creating a slightly spicy and uniquely fragrant

taste

Dried Pork: Dried pork is a common and beloved

dried dish, made from fresh pork The pork is cut into

pieces, marinated with spices, and air-dried, maintaining

the delicious aroma and good tendemess

Dried Shrimp: Dried shrimp is a popular dried

seafood with a salty sea flavor, light tenderness, and

suitability as an ingredient for many traditional dishes

After being cleaned and marinated with spices, the shrimp

are air-dried, preserving their distinctive flavor

All types of drinks and food sold in the store are guaranteed to have clear origins, provided by reputable brands, and accompanied by legal documentation ensuring food safety and hygiene This is to ensure that we deliver to our customers products of the highest quality

3.2.2 Service

Our liquor store encompasses all the elements to provide the best experience for our customers We take pride in offering a diverse range of products, including various specialty wines from different regions, ensuring clear origins and high quality Our staff

13

is extensively trained in the knowledge of wines, ready to advise and assist customers in selecting options that suit their tastes and individual preferences

We guarantee when you buy at the store because we always have a friendly policy for

- Consulting on how to enjoy as well as sharing interesting information about wine:

A team of dedicated, experienced consultants and Website: Platypus.vn will help you feel that traditional wine is more interesting and unique than any other type any other wine

- Affordable prices: Providing products that match the true value of the wine bottle

- 24/24 service, free delivery: Hotline number is always ready to serve you, even during holidays, the delivery team always serves customers fastest, anywhere, anytime

- Support packaging and decoration of products according to customer requests

We are committed to ensuring convenience for our customers through prompt delivery services and an easy-to-use online ordering system The storage of wines in our store adheres to high standards to preserve their original flavors and quality We organize promotional events and activities to enhance the shopping experience, providing membership cards with special benefits and reward points In addition, we also organize workshops and tasting tours on wines for foreign tourists

Creating a comfortable and friendly shopping environment, along with events to elevate customer experience, is our top priority We also place significant emphasis on flexible return policies, aiming to ensure absolute customer satisfaction and trust With these amenities and services, we pledge to deliver excellent shopping experiences and the finest quality liquor products to our customers

14

HH2 Current status

HL2.1 Enterprise products:

The enterprise will sell the main product of wine including the following wines: Bau

Da Wine, San Lung, Ba Kich, Can Wine, Hong Dao, Go Den sole, Minh Mang, Coconut wine, Phu Le banana seeds, ) with take-away form In addition, we also sell additional side dishes such as dried specialties and nuts such as: Dried buffalo, dried beef, dried deer, dried pork, dried chicken, dried snails, dried snakehead fish in the sun , salted roasted cashews, salted roasted chestnuts

HL2.2 Business idea

¢ Determine the wine style: traditional, luxurious, simple color tones

¢ Identify unique points, different from other wine shop in the area: a traditional wine shop, promising to provide customers with quality products and services the best HL2.3 Search for locations

¢ Convenient location, easy to access, free parking

e Area suitable to expected scale

¢ Reasonable rental price in the center of District 1

® Suitable for target customer

HL2.4 Outline the project and evaluate feasibility

e Make detailed plans: investment costs, expected revenue, profits,

e¢ Analyze the market and competitors:

© Demand: The demand for traditional wine consumption is increasing, especially during holidays and meetings with friends; District 1 is an area with many residents, offices, restaurants, hotels, tourists, with high demand for traditional wine

15

o Trend: Consumers are increasingly interested in the quality, origin, and brand of wine; The demand for high-quality, unique traditional wine is increasing

© Competitor: The traditional alcohol market in District 1 has only a few competitors; Competitors have a lot of experience, reputable brands, and diverse product sources

Risk assessment and backup plans:

e Risk of goods source: Difficulty in finding quality goods at reasonable prices; Risk

of wine quality, affecting the reputation of the business

¢ Management risks: Difficulties in managing employees, warehouses, and finances; Risk of information leakage and loss of assets

¢ For source risks: Search and build relationships with reputable suppliers; Check wine quality carefully before importing goods

® For management risks: Recruit competent and reputable employees; Regularly train and improve staff qualifications

CONCLUSION OF FEASIBILITY: Opening a traditional alcohol business in District 1 has potential but is also full of risks A detailed business plan, market analysis, risk assessment, and the preparation of contingency plans are needed to ensure success

16

In addition, we also need to pay attention to the following factors: Price: competitive price, consistent with product and service quality; Customer service: professional, attentive, and friendly service; Marketing and promotion: Promote brands, products, and services to potential customers With careful preparation and detailed planning, we can successfully open a traditional wine business in District 1

HL2.5 Development milestones

Stage 1: Preparation

¢ Apply for a permit

® Search for suppliers of raw materials and equipment

¢ Recruitment

¢ Construction and decoration of the shop

Stage 2; Open and attract customers

¢ Promote the pub through online and offline channels

¢ Organize promotions and incentives

¢ Provide good customer service

Stage 3: Maintain and develop

e Ensuring product and service quality

¢ Update market trends and trends

¢ Organize activities to attract customers (on holidays)

e Expand business scale (if possible)

TIL3 Legal status and ownership

Legal Status:

¢ Construction permit (empty premises are required, existing premises are not required)

e Business registration license (should register low capital to impose lighter taxes)

¢ Food hygiene and safety certificate

¢ License to sell alcohol

¢ Fire prevention license

17

Tax declaration and labor contract

Nhu (shareholder) has experience in the kitchen field, is responsible for importing goods and quality inspection

In addition, Anh Khac (consultant) who has experience studying in the US in the field

of Hospitality will be an advisor to the shareholders and responsible for the store's space design

IV.1 Market Segmentation and target market

In a market with fierce competition like the wine market, market classification is not only for companies to distinguish and divide their influence, but it is vital to production activities The company's business output minimizes the company's risk level against market opportunities

18

IV.1.1 Market Segmentation:

® Businesses: include companies that need to buy wine as gifts in medium and large quantities This is the segment that needs discounts based on sales and the number

of orders on schedule

¢ Individuals: include tourists who want to try traditional Vietnamese wines This segment is very diverse in needs (good product quality, product nutritional value, reasonable price, eye-catching packaging design )

¢ Demographic:

- Based on gender:

The ratio of male and female guests is relatively equal with 42.1% male and 57.9% female This shows that today both men and women have the same needs, interests, and tastes for traveling, and the same desire to experience other cultures For men, today they are less bound by family responsibilities, live more freely and comfortably than before, and due to work stress, they often choose to travel to satisfy their needs is the segment that is most easily interested in our alcohol products because men often "like" drinking wine more than women For women, their living standards are increasingly improving, they also have more leisure time and more comfortable payment levels, so they also have more opportunities to travel than before Therefore, the number of women traveling is increasing Although the female segment does not have a high demand for "wine tasting”, they do have a high demand for buying souvenirs that are both beautiful and traditional,

so our traditional wine packaging also can easily catch their eye

time, so this age group often has a very high need to travel Therefore, this is a potential customer group that our company needs to pay attention to and exploit

Age group from 41-55 years old with a rate of 30.7%: People in this age group often have stable jobs and status in society, so they often need to travel with the company or family on holidays Nowadays, traveling is a way to express yourself, so buying gifts for colleagues or superiors is also a way for them to express themselves

The group over 55 years old accounts for 14.0%, mostly retirees This age group often has free time and nowadays they are also comfortable with money, so people in this age group also have a need to travel Due to limited health, they often only participate in short tours, vacation tours, and cultural tours This group of tour guests may know our business through the travel companies we have cooperated with

- Based on average income includes 3 customer groups as follows:

High-income market segment: People in this market segment are people with strong economic potential, successful people in business, and are willing to spend money to buy luxury products, expensive, high quality to affirm one’s status and satisfy one's needs Market segment of people with average income: These are officials and employees, their income is only enough for living expenses and a little savings Therefore, their consumption behavior is somewhat limited However, the products they buy must also meet certain standards of quality, price and aesthetic factors because people in this group are also greatly influenced by social-cultural factors and personal factors core

Market segment of people with low income: includes people with heavy manual labor and manual workers These people have very low income, not enough to satisfy all their needs, so their consumption decision making is very difficult, depending on many different factors Their product requirements are very simple, they just need good quality and reasonable prices for them to be able to consume them

20

® Psychology:

Based on lifestyle, the market is divided into two segments

Group of people with a healthy, modern lifestyle: This group of people is often knowledgeable about food safety, they pay close attention to what they put into their bodies Naturally fermented fruit wine would be their best choice This is also quite a potential customer group because wine soaked in fruit or made from rice is very good for health However, the consumption power of this group is not high

Group of people who do not have a healthy, traditional lifestyle: This group will often pay attention to the taste of wine, sometimes ignoring medical safety factors This group

of people will have many options depending on their preferences and habits such as: traditional wine, sticky rice wine, soaked wine

Based on pursued interests:

© Good for health: this group may be middle-aged, they use alcohol in small doses to improve their health

o Drinks at parties

© Show alcohol tolerance

o Asa gift for family, friends, relatives

IV.1.2 Target market:

The company's traditional wine marketing strategy is to approach customers in the most friendly, "popular" way possible Although it looks "luxurious but still very familiar" Focus on the 4 main elements of the marketing mix strategy: product, price, place, promotion

21