Report Major Basic Marketing Analysis Of Acecook Market Viet Nam.pdf

Introduction Acecook Vietnam, a subsidiary of the famous Japanese instant noodle manufacturer Acecook, was established with a vision and mission of "through the culinary path to contribu

HO CHI MINH CITY UNIVERSITY

OF FOREIGN LANGUAGES - INFORMATION TECHNOLOGY

FACULTY OF BUSINESS ADMINISTRATION

REPORT Major: BASIC MARKETING ANALYSIS OF ACECOOK MARKET VIET NAM

Student’s name:

Pham Ha Bao Uyén — 22DH483670 Phan Nguyễn Ngoc Mai — 22DH481535

Tran Thi Thu An - 22DH480044

Võ Ngọc Nhã Quỳnh — 22DH482635 Nguyễn Hoàng Trọng Tín - 21DH482709 Dang Phan Tu Tu- 22DH483603

Lé Ngoc Hao — 22DH484091

Dang Thi Ngoc Thoa — 22DH482932

Phạm Lê Minh— 22DH484011

Lê Mỹ Bình - 22DH484085 Doan Thi Tra Mi — 22DH481559

Nguyễn Văn Binh — 22DH483972

Class: 233141115304 Course: 2022 — 2026 HCMC, 6/2024

I Introduction

Acecook Vietnam, a subsidiary of the famous Japanese instant noodle manufacturer Acecook, was established with a vision and mission of "through the culinary path to contribute to Vietnamese society", "Providing high-quality products/services that bring HEALTH - SAFETY - PEACE OF MIND to customers", "Becoming a leading food manufacturing enterprise in Vietnam with enough management capacity to adapt to the globalization process” has strengthened its position as a prominent enterprise in the Vietnamese instant noodle market The company's success can largely be attributed to its adept targeting strategies, tailored to consumer requirements and market dynamics This comprehensive examination delves into how Acecook Vietnam perceives and focuses on its key consumer segments, offering valuable insights into the company's strategic approach

I Segmentation — Targeting — Positioning (STP)

1 Segmentation

1.1 Geography

Distribution: Hao Hao Noodles is widely distributed throughout provinces and cities at home and abroad The main market is where the population density and income are high

In particular, the demand for fast food is increasingly popular due to the high quality of work, leading to high profitability

Population size: 89.71 million (2013)

Distribution density: mainly in large cities such as Hanoi and Ho Chi Minh

1.2 Demography

Age: (18-35 years old): This is the largest and most economically active population group and they are also the group that consumes the most instant noodles Acecook targets this group with a variety of products, including Hao Hao, Li Li and Super Mi

Location: Urban areas: The company has a strong distribution network in urban areas and its products are often sold in supermarkets, convenience stores and traditional markets

Income: People with low income: Acecook products have relatively affordable prices, suitable for all families, reaching consumers at all income levels

People with busy lifestyles: Most of Acecook's products are fast-moving consumer products that are very convenient and easy to prepare, making them a popular choice for consumers with busy lifestyles

1.3 Psychology

Lifestyle: Meeting the needs of differe nt lifestyle groups, such as busy individuals who need quick meals, health-conscious consumers looking for low-calorie options, or culinary adventurers seeking unique flavors

Hobbies: Engaging home cooks with DIY noodle kits that allow them to add their own twist and appealing to food experimenters with a variety of customizable flavor options Activities: Providing portable, ready-to-eat meals for hikers and outdoor enthusiasts, and easy-to-eat snacks for gamers who need sustenance during long gaming sessions Opinions: Highlighting sustainable practices with eco-friendly packaging to attract environmentally conscious consumers, and showcasing locally sourced ingredients to appeal to those who prefer to support local businesses

1.4 Behavioral dimensions for segmenting consumer markets

Information required: Acecook can collect information from customers through surveys or feedback from customers to better understand their needs and desires

Needs: Acecook can classify customers based on their specific needs, for example the need for quick and convenient instant noodles, they often buy Hao Hao for their meals to save cooking time grill

Thoughts: Acecook can classify customers based on their thoughts and opinions about brands and products

Rate of Use: Acecook Vietnam maintains its leading position in the instant noodle market, with sales exceeding 30 billion packages, turning Hao Hao into a national noodle brand Purchasing relationship: Acecook can classify customers based on their purchasing relationship, such as loyal customers or new customers

Kind of Shopping: In addition to finding different points of sale to search for Acecook products, Acecook has launched its e-commerce website so that customers can conveniently place orders, such as https://eshop.acecookvietnam.vn/

Brand familiarity: Changing the brand from Vina Acecook to Acecook to match the global development strategy with the new logo and slogan "Happy Cooking”, the Acecook brand wishes to bring customers more product value, not only about quality but also about a feeling of surprise, deliciousness, assurance and a feeling of happiness

In-Depth Targeting Analysis for Acecook Vietnam

2 Targeting

2.1 Primary Target Market Segments

2.1.1 Analyze the macro environment

Acecook's Marketing strategy for Hao noodles is analyzed through the following factors: Political environment: Thanks to political stability, businesses limit instability, avoid war and feel secure in investing in expanding markets

Economic environment: Despite experiencing the extremely fierce COVID - 19 pandemic, the economy in Vietnam still has spectacular growth and remains stable, especially in the food industry

Science and technology environment: Vietnam is making improvements in science and technology, creating great benefits for production and product quality management But the promotion has not been widespread

Socio-cultural environment: Vietnamese people's time for work and life is gradually changing, so customers often tend to use fast food, which is a favorable condition for development Product development

2.1.2 Analyze the micro environment

In addition to macro factors, Acecook's marketing strategy needs to focus on researching micro factors, because these factors will also affect the development of the brand: Competitors: In the Vietnamese market, there are more than 50 businesses producing instant noodles, some big competitors such as: Vifon, Masan, Ba Mien Noodles, with extremely strong growth rates

Distributors: Supermarkets, agents, shopping centers, etc are extremely necessary to distribute products

Customers: Customers are one of the factors that directly affect the brand Acecook offers

a strategy to evaluate the benefits that customers get when using a product

2.2 Targeted customer

For Acecook’s Marketing strategy and especially for Hao noodles, targeting the benefits of target customers is extremely necessary This has been done by Acecook and has helped Hao noodle products be used by many people

Acecook's target customer base for Hao Hao noodles is mainly students, and consumers in rural areas account for a larger proportion than in the city Therefore, to penetrate the potential market and earn large profits, Acecook needs to offer prices suitable to the budget

of target customers

2.2.1 Children

Demographics: This segment encompasses individuals within the age bracket of 6-12 years, predominantly consisting of children in elementary school through middle school These individuals also depend on their families, so they will not look for this product themselves, but parents will do it to provide nutrients for their children

Needs and Preferences: The key factors of this segment are convenience, affordability, safety, and quality They can realize children's nutritional needs for products that are easy

to prepare and present a variety of flavors to avoid monotony in culinary foods, making children feel like eating than normal

Product Offerings: Tailored specifically for this segment, products like cup noodles: Rich Cheese Oyster & Sweet and Sour Seafood flavor, covered with delicious toppings instant noodles: Attractive Cheese Rolled Beef & Unique Fried Garlic Chicken Shrimp

Marketing tactics: Acecook uses vibrant and youthful advertising campaigns such as featuring Doraemon anime designs, and regularly leveraging social media platforms and partnerships to reach target demographics like Facebook, KOL, TikTok, etc Participating

in promotional events and testing products at sales counters will help promote brand loyalty among parents

Quality assurance: By emphasizing quality control measures and strict safety standards, clearly stating the nutritional ingredients that the product can provide to children Acecook assures families of the benefits safety and health benefits of the product This plays a key role in establishing trust among parents who are conscious about their children's dietary choices

2.2.2 Young Adults and University Students

Demographics: This particular segment encompasses individuals within the age bracket of 18-30 years, predominantly consisting of university students and young professionals These individuals typically seek swift, economical, and palatable meal alternatives owing

to their hectic schedules and financial constraints

Needs and Preferences: The pivotal factors for this segment are affordability and convenience, quick-to-prepare instant noodle products with appealing flavors They exhibit

a preference for products that are effortless to prepare and present a diverse range of flavors

to evade culinary monotony

Product Offerings: Tailored specifically for this segment, products like Hao Hao noodles

are budget-friendly, flavorsome, and facile to prepare, effectively meeting the primary requirements of young adults and students

Marketing Tactics: Acecook employs vibrant and youthful advertising campaigns, frequently leveraging social media platforms and partnerships with universities to reach this demographic Engagement in promotional events and product sampling at universities aids in fostering brand loyalty among students

Distribution Channels: Utilizes modern communication channels and social media to reach this consumer group and the company ensures extensive availability of its products in convenience stores, supermarkets, and online platforms, thereby catering to students and young professionals who prefer expedient shopping options

2.3 Middle-income families

Demographics: This segment comprises households with moderate incomes, typically consisting of parents and children They seek out nutritious and secure food options that are also economically viable

Needs and Preferences: Middle-income families gravitate towards products that offer value for money, incorporating nutritional advantages without compromising on taste Additionally, they prioritize food safety and quality

Product Diversification: Acecook presents a diverse array of products, including non-fried noodles and enhanced nutritional options, to cater to the health-conscious inclinations of this segment Brands like Dé Nhat offer premium yet affordable alternatives for family meals

Quality Assurance: By emphasizing rigorous quality control measures and safety standards, Acecook assures families regarding the safety and health benefits of their products This aspect is pivotal in establishing trust among parents who are conscientious about their children's dietary choices

Promotional Campaigns: The company engages in marketing campaigns oriented towards families, emphasizing the nutritional value and safety of their products Advertising on television, family magazines, and in-store promotions are commonly employed channels 2.4 Health-Conscious Consumers

Demographics: This particular cohort consists of individuals representing a spectrum of age categories who prioritize the aspects of health and nutrition when making decisions regarding their dietary selections This group encompasses individuals who are enthusiastic about fitness, those with specific dietary constraints, and individuals who are generally inclined toward enhancing their dietary habits

Needs and Preferences: These individuals exhibit a preference for products that offer health advantages such as reduced fat content, low sodium levels, and the absence of synthetic additives Furthermore, they place importance on the transparency of the sourcing of ingredients and the processes involved in manufacturing

Product Innovation: Acecook has introduced novel product ranges, such as non-fried noodles and instant vermicelli crafted from brown rice, which are tailored to meet the dietary requirements of health-conscious consumers These particular products are marketed emphasizing their nutritional benefits and the utilization of natural components

Transparency and Trust: The organization ensures a transparent approach in its production methods and consistently informs consumers about the health advantages associated with its products This practice fosters trust and loyalty among consumers who prioritize health considerations

Targeted Marketing: Acecook utilizes influencers within the health and wellness domain, social media platforms, and events related to fitness to promote its healthier alternatives Educational campaigns highlighting the advantages of their products are also undertaken

to attract this specific consumer segment

2.5 High-Income Urban Consumers

Demographics: This particular group comprises affluent individuals and families who reside in urban settings and exhibit a willingness to invest in premium food items characterized by high quality and gourmet attributes

Needs and Preferences: These consumers are inclined towards premium offerings that boast distinctive flavors and superior taste profiles Additionally, they express interest in gourmet cuisine and international culinary experiences

Premium Product Lines: Acecook presents a range of upscale products such as Sanuki Udon and Japanese-style ramen that cater to the refined tastes of high-income consumers These products are often marketed as gourmet and exotic choices such as cup noodles and bowl noodles made with high-quality ingredients and sentient production processes Exclusive Marketing: The company employs sophisticated marketing strategies including collaborations with gourmet chefs, premium packaging, and placement in upscale supermarkets and specialty outlets

Brand Positioning: By positioning its premium products as authentic and high-caliber, Acecook appeals to the discerning palates of affluent consumers who place value on exclusivity and luxury in their culinary preferences

3 Positioning

3.1 Points of Parity

Provides a range of tastes for instant noodles, just like other well-known brands

Makes use of comparable marketing and production strategies to rivals

Emphasizes customer affordability and ease

3.2 Points of Difference

Deep understanding of Vietnamese taste preferences: Acecook makes use of its extensive history in Vietnam to create flavors that are especially suited to the tastes of the country Focus on family meals: Acecook markets itself as a company that meets the demands of hectic families by providing bigger serving sizes and packaging that is meant for the whole family

Strong brand recognition and trust: Acecook, a well-known competitor in the Vietnamese market, has a solid reputation for dependability and quality

3.3 Target Market

Primary: Vietnamese family (parents and kids) are the main focus

Secondary: Young individuals, working adults, and customers on a tight budget

3.4 Marketing Mix

Product: An extensive range of flavors for instant noodles, cup noodles, rice vermicelli, and other culinary items Pay attention to creativity and developing new flavors that suit regional tastes

Price: Competitive pricing with a focus on providing good value

Place: Widespread distribution network throughout Vietnam, emphasizing traditional grocery stores, supermarkets, and convenience stores

Promotion: Makes use of a variety of traditional and digital marketing platforms, such as social media marketing, in-store promotions, television ads, and sponsorships of nearby events

3.5 Competitive Advantage

Deep understanding of the Vietnamese market: Acecook has a distinct advantage in understanding local customer preferences due to their extended history in Vietnam Strong brand recognition and trust: Acecook is a well-known brand in Vietnam, linked to reasonably priced and superior cuisine items

Focus on innovation and new product development: Acecook consistently releases new flavors and goods to meet changing consumer demands

3.6 Challenges

Competition from international brands: Acecook encounters competition from well-known global instant noodle conglomerates such as Nestle and Unilever

Rising costs of raw materials: Profitability may be impacted by changes in ingredient pricing

Shifting consumer preferences: Acecook may need to modify its product lineup as a result

of consumers’ growing health consciousness

3.7 Future Opportunities

Expansion into new markets: Acecook can increase its market share in Southeast Asia and other international markets by utilizing its well-known brand and industry knowledge Product diversification: In order to provide a greater selection of quick and reasonably priced food options, Acecook can expand the range of products it offers beyond instant noodles

Sustainability initiatives: Satisfying the expanding market for ecologically friendly and sustainable goods

All things considered, Acecook Vietnam has been successful in establishing itself as the top supplier of economical, premium instant noodles that satisfy the particular preferences

of Vietnamese consumers Acecook is positioned to sustain its market leadership and grow its reach in the future by keeping an emphasis on innovation, brand building, and adjusting

to shifting consumer tastes

Ill Conclusion

Acecook Vietnam's comprehensive targeting strategy effectively meets the diverse requirements of its consumer base Through market segmentation based on demographics, geographic location, behavior and psychographics, along with the application of targeted marketing methods, Acecook expertly meets the needs of the segments diverse consumers This strategic targeting approach ensures reach to as many consumers as possible, long- term relevance and preference for products Through continuous product innovation, high- quality standards, and targeted marketing efforts , Acecook ensures sustained growth and customer satisfaction in the fiercely competitive instant noodle market