Final report topic new product for pizza 4p’s

ABSTRACT The following report provides an overview of the collaborative process and team discussions regarding the planning and development of Pizza 4P's new pasta product line.. Percep

ĐẠI HỌC

VẦ HOA SEN

NEW PRODUCT FOR PIZZA 4P’S

BO GIAO DUC VA DAO TAO TRUONG DAI HOC HOA SEN

2 Tran Thao Anh

3 Lai Thuy Mai Vy

TABLE OF CONTENT

1402 FOCUS Lene ene eee Hà HH Hà Hà Hà Hà Hà HÀ HH Hà Hà HH HH H1ệc 8

ABSTRACT

The following report provides an overview of the collaborative process

and team discussions regarding the planning and development of Pizza 4P's new

pasta product line After considering the current state of the product and its future

direction, our team made the decision to focus on developing the concept named Purple dragon fruit pasta as a new product in the Product Management course This choice was made after carefully considering both subjective and objective

factors, taking into account customer preferences and behaviors

ACKNOWLEDGEMENT

We would like to sincerely thank and deeply appreciate the HOA SEN University instructors for setting up the necessary conditions for us to have a valuable subject We also have a great deal of knowledge with the research and product development process after taking this course

We also like to express our gratitude to Lecturer Tran Thi Thu Hien for her enthusiastic leadership and guidance during the course of our education Errors may inevitably occur during the test and report-writing processes and I sincerely hope that you will pardon them Simultaneously, the study has limitations owing to its restricted theoretical background and_ practical

experience As such, we welcome your feedback and recommendations to expand

our knowledge base in anticipation of report

TABLE OF TABLES

Table 1 Perceptual Map for new Pizza 4P’s product ideas cece certestenees 11 Table 2 VRIN Model aw 16 Table 3 Product eoncept c1 1 2111 19111101 111101101111 01101111101 1 H1 nh re 20 Table 4 Table of Imrtial reaction techn1qU€ c2 2211 1121111115111 1811811 1e re, 24 Table 5 Seoring ModelL c2 1 1111 1121111021111 101 111 0110111110111 11 011011117 1 ray 30 Table 6 Produet ArchIf€CELT€ - à S 2L S221 12111121111111111111112111111111 1101 11 1 HH Hit 32 Table 7 Strategie Launch PÏanning + c1: 211121311 3213111 1181111111111 111 1115011811 xer 35 7/5991//2/2/./ 0u 00nnẺ 6 ốốốố.ốố.e 36

TABLE OF IMAGES

Image 1 Perceptual mapping -.- ¿2c +: 21121211 11011911 1101111121115 01111 HH ra

Image 2 Product design

TEAM MEMBERS EVALUATION

Nguyên Trân Thảo |Lại Thụy | Trân Thi ;

Như Y -| Anh - | Mai Vy - Thanh Đào „

PHASE 1: OPPORTUNITY IDENTIFICATION 1.1 Micro environment

1.1.1 Customers:

Pizza 4P's targets consumers 18 years and older who live and work in big

cities such as Ho Chi Minh City, Hanoi, Da Nang, and Hai Phong In addition, eating out 1s also becoming an essential part of modern life due to the increasing demand for making friends, meeting business partners, most of whom are

students or people with stable income Outside careers increase depending on

where they live For that reason, Pizza 4P's also aims to be stimulated by the

simplicity and appeal of the food, the quality of the need to contact and meet, and

the standards of Vietnamese consumers about delicious foods Customers who love food, want to gather to eat, enjoy food outside, skip the common parties, or maybe couples, or families The family wants to have a sunset dinner together at

a restaurant.cheese will create favorable and loving consumers, which will make

them willing to pay for its product food 12 of life, immerse yourself in the meals

and joys of life offered by Pizza 4P's Because the price of products at Pizza 4P's

ranges from 250,000 - 500,000VND/serving With the integration of many

cultures, the love for cheese is one of the top reasons why Pizza 4P's wants to reach customers with a fairly average income - over 7 million VND a month

Promoting foreign dishes such as Pizza 4P's - which produces 8 types of cheese

with different flavors Pizza 4P's also regularly launches pizzas with unique and new flavors, making it one of the groups of modern people , likes to try new things and is also someone who enjoys life It is a fake flavor Different businesses have helped businesses strongly enter the Vietnamese market Pizza

4P's guides consumers 18 years and older to live and work in big cities like Cho

City Pizza 4P's hits VNM of Vietnamese people who love cheese for its

customers

1.1.4.1

1.1.4.2

1.1.2 Solid supply source:

Pizza 4P's owns many sustainable local sources of supply, ensuring the

deliciousness of the ingredients This contributes to the high quality of the dish

Global scale: Pizza Hut has an extensive global network, which can provide

marketing and promotional strategies globally

Strong brand: Pizza Hut is a famous brand that can take advantage of the benefits

of brand recognition to attract customers

Pizza 4P's (Platform personal pizza for pizza) is currently one of the most

successful pizza brands in Vietnam with a scale of 25 establishments, famous for its homemade cheese founded by Sanae and Yosuke Masuko Achieving success like today, the Pizza 4P's brand has gone through a long path of development

1.2.1 Demographics

Our country's current population is more than 98 million people (March

13, 2022) The trend of Vietnamese people switching from street food to fast food is increasingly favored because of convenience and more professional and attentive service

Vietnam has a largely young population and international students, foreigners which are the group that accounts for the majority of the demand for fast food

=> With the above advantages, investing in food is extremely reasonable Pizza 4P's has grasped this trend and has been growing strongly in the present

1.2.2 Economy

Pizza 4PS's equity as of June 30, 2023 reached 218.2 billion VND, an increase of 55% compared to the previous period; The debt/equity ratios decreased from 1.58 to 1.03 times; Outstanding bond debt/equity is 0.064 times From 2022, Pizza 4PS's business results have improved with profit after tax of 83.6 billion VND while the previous 2 years lost nearly 38 billion VND and 21 billion VND respectively

In 2022, Pizza 4PS paid 7.1 billion VND of bond principal and about 2.1 billion VND of interest, thereby reducing the bond principal balance as of December 31, 2022 to 13.9 billion VND

In 2022, Pizza 4PS served more than 3.5 million customers at the store, double the number of 1.7 million customers in 2021

1.2.3 Natural

Vietnamese people have a tradition of eating bread, and pizza also has

main ingredients quite similar to Vietnamese bread, so Pizza 4P's in particular

and other Pizzas in general are easily accepted and loved by Vietnamese people Consider pizza as a familiar dish Pizza is very suitable for every meal, has high nutritional content, has wheat flour to help you feel fuller and ensure all activities

of the day Vietnamese people love to eat hot food, like in a tray of rice we can easily eat It's easy to see that the dishes and rice are hot Pizza 4P's is served with a hot cake taken from the earthenware oven and uses firewood to burn Currently, Pizza 4P's is present in the frozen Pizza market to serve customers far away from branches Pizza 4P's provides detailed instructions to customers on how to bake and reheat the cake to ensure preservation Original taste of cake

1.2.3 Technology:

Behind Pizza 4P's high-end service is the "support" of an entire technology system built and operated by the company's staff Taking on the position of Director of Innovation Technology at this brand is Kelly Tran Previously, the IT team's work here was as simple as ensuring the camera

systems, point of sale equipment or wifi, worked normally However, when Covid-19 hit, Pizza 4P's had to find new sources of revenue in the context of restaurants having to close due to social distancing orders This brand has abandoned its "principle" of only serving at restaurants for 9 years Last year to deploy online sales channels and home delivery However, instead of switching

to applications like Grab, Goyek or Now, Pizza 4P's built a sales channel through Its own website and even developed a battery in the thermos box to keep the food

in perfect condition Not only taking orders and delivering orders, but all other processes at Pizza 4P's 25 stores are managed by 100% "home-made" technology such as electronic invoices and building customer feedback systems customers,

partners, and employees After only 8 months of developing the ordering system

on the website and home delivery, this sales channel has helped Pizza 4P's earn

30 billion VND, deliver more than 60,000 orders and grow monthly At the same time, this brand's website is also in the top 10 e-commerce in Vietnam, next to big names such as Tiki, Lazada, Shopee,

1.2.5 Political and social environment

1.2.5.1 Pizza 4P's focuses on employee satisfaction

Employees can directly visit and practice at the restaurant's production farms Through this, employees will better understand the production process as well as the difficulties in producing clean vegetables, from which they will appreciate food more, avoid food waste, and can also explain to diners about the

ingredients in the dish

1.2.5.2 Contribution activities and connection with the community

In recent years, this brand's social activities have appeared increasingly dense The most prominent of these is the charity project "Table For Two" with the extraction of 1% of the company's profits to bring meals full of smiles to children in Van Ho district, Son La province

1.2.5.3 Research and develop a menu that includes many healthy dishes:

If you pay attention, you will see that about 25% of 4P's appetizer menu is vegetable dishes and the restaurant also has many options for vegetarians This is also one of the moves to encourage people to eat a more balanced and healthier diet

1.2.5.4 Environmental protection:

Pizza 4P's is currently implementing many unique and creative measures such as taking advantage of Whey water in the cheese production process to reuse in dishes and drinks, or using earthworms to Transform organic waste from leftover food into useful products In addition, besides stopping the use of plastic straws and changing the material of take-out boxes, furniture such as tables and chairs at the restaurant are also made from recycled materials In addition, 4P's also aims to radically reduce food waste in all branches, use clean electricity from the sun as well as contribute more to social activities

1.3 Opportunities

1.3.1 Opportunity 1: Online Ordering and Delivery Optimization

With the growing trend of online food delivery, Pizza 4P's can optimize its online ordering platform and delivery services This includes investing tn user- friendly mobile apps, website mterfaces, and efficient delivery systems to

enhance customer convenience and satisfaction

1.3.2 Opportunity 2: Menu Innovation and Specialized Offerings

Introducing mnovative and unique pizza flavors or offering specialized options for different dietary preferences (e.g., gluten-free, vegan) can attract a wider range of customers Keeping the menu fresh and exciting can generate buzz and keep customers coming back for new experiences

1.3.3 Opportunity 3: “From farm to table”:

Adopt sustainable practices, such as sourcing local and organic

ingredients This is a health assurance process associated with Pizza 4P's The

staff here regularly go into the field, looking for households that grow vegetables and many other products using organic methods, without using chemicals to buy

directly from farmers Or reducing packaging waste and implementing energy-

saving, measures, which can appeal to consumers who are environmentally conscious and interested in a healthy lifestyle Not only is this in line with social responsibility, but it can also appeal to a growing market segment

1.3.4 Opportunity 4: Tech Integration for Customer Engagement

Opportunity: Leveraging technology for customer engagement, loyalty

programs, and personalized promotions can enhance the overall customer experience Implementing a customer relationship management (CRM) system

and utilizing data analytics can help Pizza 4P's understand customer preferences

and tailor marketing strategies accordingly

1.3.5 Opportunity 5: Expansion and Collaborations

Exploring opportunities for expansion into new locations or collaborating

with other businesses can help Pizza 4P's tap into different markets

Collaborations with local breweries, wineries, or cultural events can create

unique dining experiences and attract diverse customer demographics

With the 5 opportunities listed above, our team has analyzed the conditions and potential of Pizza 4P’s to select the most potential opportunity to develop a new product idea which was opportunity 3 Based on the healthy lifestyle trend of the majority of people Pizza 4P's should focus on researching

how to use ingredients to reduce calories but still have enough nutrients and

attract customers So that customers can enjoy dishes that are full of nutrients and vitamins and especially avoid obesity

1.4 Product Innovation Charter (PIC)

1.4.1 Background

Pizza 4P's is a popular pizza brand in Vietnam with an interesting origin

and background The brand was founded by Japanese couple Yosuke Masuko

and Sanae Takasugi tn 2011 in Ho Chi Minh City

The name "4P's" represents four key elements in the brand's philosophy: People, Product, Place, and Purpose 4P's aims to build a friendly environment,

create high-quality pizza products from fresh ingredients, create a place where

people can enjoy intimate and cozy meals, and promote social goals such as traming and supporting the local community

By successfully combining the flavors of Western pizza with fresh

Vietnamese ingredients, Pizza 4P’s quickly attracted attention and made a

difference in the food industry in Vietnam The brand has expanded its network

of stores throughout Vietnam and even expanded abroad, creating a community

of quality and creative food lovers

With its efforts, 4P’s has become one of the leading pizza brands in

Vietnam The brand has attracted a large number of customers, from young people to families with young children

1.4.3 Goals and Objectives

Measure the impact of new products and bring benefits to the brand

Short-term:

Gauge the impact of new products

Understand customer psychology when using new products

Long-term:

Offer more choices for customers

Guide customers to healthy and nutritious products

1.4.4 Degree of innovativeness

In order to be successful in the food industry, especially m the pizza segment, brands need to quickly be the first to market with new products This gives them a competitive advantage and helps them to gain brand recognition and

awareness

1.4.5, Quality

Pizza 4P's has been able to maintain its reputation for quality and service These two factors are essential for the brand to continue to be successful New

products must also be of high quality in order to maintain the brand's values and

meet the needs of customers

PHASE 2: CONCEPT GENERATION

2.1 Forming Ideas

In the previous stage, we selected an opportunity for Pizza 4ps to focus on development: bringing a sustainably sourced high-quality organically grown produce for a group of customers And to develop this opportunity into a concrete idea for a new product, we will choose the Perceptual map method to generate the right and appropriate ideas for the new product when it comes to market

Perceptual map is a graphic technique that helps marketers get a visual

display of customer or potential customer perception The position of a displayed product or brand relative to our competitors Cognitive maps are often used to help organizations categorize positioning strategies

Perception maps are useful for figuring out the strengths and weaknesses

of a company's other products In addition, it helps to realize a competitive advantage for the product

Below, our team will create a perceptual map for new Pizza 4ps product

ideas based on analysis of other produce brands including: L'Antica Pizza, Pizza

AU, Italiani's Pizza, Carpaccio, Basta Hiro, Pizza Pendolasco, The Long@Times

Square Pizza, Pizza 4P's

In that map, we shall partition four quadrants to assess conceptions and shall be predicated upon two pivotal characteristics: Price and product quality of brand other pizza

The reason we chose these two attributes to evaluate and locate new ideas

is that when customers choose or use organically grown products, they will

always consider cost, effectiveness, and efficiency As a result of the product, we will sketch a map to see the gaps in price and product quality to launch a suitable new product We then researched the prices and read all the customer reviews for the quality of the products so that we were able to accurately score each brand

Table 1 Perceptual Map for new Pizza 4P's product ideas

PRODUCT NAME PRICE PRODUCT QUALITY L'Antica Pizza 500,000 = 10 8

And from this scoreboard, we'll outline it on the map with the scale for

each attribute from 0-10 points After sketching the Perceptual map, we will

analyze Pizza 4P's innovation opportunities as follows:

@ Italiani's Pizza Pizza 4U

» Pizza 4P's

LOW PRODUCT

Image 1 Perceptual mapping

As we can see on the map, all firms have certain segmentation positions for

themselves As L'Antica Pizzato claims to be the leader in terms of product quality and price, they believe that price goes hand in hand with quantity Next is

the mid-high segment including brands: Carpaccio, The Long @ Times Square

Pizza, Pizza Pendolasco, Basta Hiro And finally, the middle segment includes

brands such as: Italiani’s pizza, Pizza 4U, Pizza 4ps However, looking at this average area, one can see that Pizza 4ps is lagging behind Italianni’s pizza or

Pizza 4u Therefore, in order for Pizza 4ps to compete with those firms, Pizza 4ps

needs to be in the red circle area that we have zoned on the map Because only when Pizza 4ps is in this red circle can Pizza 4ps compete on price and gain market share and customers of these firms And to do that, this time Pizza 4ps

will have to launch new products with improved quality but still have to keep the same price or maybe change the price up a bit With the goal of positioning new

products in such a new area, our team discussed and had unique ideas for Pizza

4ps new products as follows:

Customizable Pizza Builder

2 Pizza with chocolate sauce

3 Miniature Size of Pizza for kids

Purple Dragon Fruit Pasta

Premium Cut of Steak

Mac ‘n’ Cheese Madness Pizza

Taco Tuesday Pizza

BBQ Chicken pizza

10 Curry Coconut Chicken Pasta

Customizable Pizza Builder:

Pizza 4P could develop a customizable pizza builder that allows customers

to personalize their pizzas based on their preferences and dietary needs This digital platform offers a wide range of options for customers to customize every

aspect of their pizza, starting from the crust type to the sauce, cheese, and

toppings The pizza builder takes into account dietary restrictions and preferences, highlighting vegetarian, vegan, and gluten-free options, as well as providing alerts for potential allergens Once the customization is complete, expert chefs at Pizza 4P bring the personalized pizza to life according to the

customer's specifications

Pizza with Chocolate Sauce

A Chocolate Sauce Pizza has a pizza crust with chocolate sauce, toppings like chocolate chips, fruits, and powdered sugar It's baked until crispy It's a special and delicious dessert for people who love sweets The ovens cook the

crust evenly and crispy Commercial kitchens use special equipment to melt and keep the chocolate sauce consistent

Miniature Size of Pizza

Pizza 4P offers mini pizzas for children, designed to cater to their tastes and preferences These smaller, fun-filled pizzas are easy for kids to handle and

enjoy The presentation is creative, featuring fun designs like smiley faces or animals Pizza 4P also provides nutritious options with high-quality dough, fresh

vegetables, and lean meats, ensuring children can enjoy their favorite food while

gaining essential nutrients

Purple Dragon Fruit Pasta

Pizza 4P can create a visually striking purple dragon fruit pasta dish using

a dough made from purple dragon fruit puree and all-purpose flour The dish can

be paired with fresh herbs, colorful vegetables, or white cheeses The mild, slightly sweet flavor of purple dragon fruit can be complemented with light ingredients like cherry tomatoes, basil, lemon zest, garlic, olive oil, and chili flakes

Premium Cut of Steak

Pizza 4P could offer high-quality steaks like ribeye and filet mignon,

cooked to perfection using their grilling techniques They also can offer various doneness levels and enhance the steak's flavor with their signature blend of herbs, Spices, and marinades, such as garlic, rosemary, thyme, or balsamic glaze

Sushi- Inspired Pizza

Pizza 4p originated as a Japanese brand, combining Italian pizza with

Japanese sushi, creating a unique and visually appealing dish The pizza uses rice

crust for texture and combines the round shape of pizza with the aesthetic appeal

of sushi The preparation involves techniques from both Italian and Japanese traditions, including precision in rice cooking and knife skills for slicing fish This sushi-inspired pizza caters to diverse tastes and textures

Mac ‘n’ Cheese Pizza

Pizza 4p offers a Mac 'n' Cheese Madness pizza, a combination of macaroni and melted cheese, offering a greasy yet delicious experience The crust is a blend of pizza and comfort food, with a crispy crust and bacon bits for a

delightful tactile experience The cheese condiment on top showcases culinary expertise in condiment concoction This modern twist on comfort food combines

the familiarity of macaroni and cheese with pizza, providing a satisfying yet exhilarating meal

Taco Tuesday Pizza

Taco Tuesday Pizza is a pizza that combines the taste of tacos with pizza

It features a base made of nacho cheese sauce, with toppings like refried beans, seasoned ground beef, diced tomatoes, shredded lettuce, and sour cream This

unique twist on taco Tuesday Pizza offers a visually appealing and delicious interpretation of classic tacos

BBQ Chicken Pizza

BBQ Chicken Pizza has a round crust with barbecue sauce, chicken, cheese, onions, and optional ingredients like peppers or cilantro The sauce is savory and slightly sweet, complemented by the smoky chicken It's a balanced meal with protein You can customize it to your liking with different toppings and sauces Some places use wood-fired ovens for smoky crust

Curry Coconut Chicken Pasta

Coconut Curry Chicken Pasta is a dish that combines curry, pan-fried chicken, and pasta The dish uses macaroni as the base, combining curry- marinated chicken, vegetables, and a fragrant coconut sauce The sauce is made

by combining coconut milk with sautéed onions, garlic, and ginger, and slicing

vegetables at specific intervals The dish provides lean protein, a nutritious yet

indulgent choice

2.2 VRIN Model

After our team has formed 10 ideas for new products In the next step, we will develop these ideas according to the VRIN (Valuable; Rare; In-imitable; Non-substitutable) model, bringing the ideas into this model to assess whether these ideas have potential function and bring value to Pizza 4ps or not

Table 2 VRIN Model

Premium Cut of Steak YES NO NO NO | Competitive

Disadvantage

YES YES YES NO | Unused

Competitive Advantage

NO YES NO VES | Temporary Mac ‘n’ Cheese Madness Competitive