Final report digital branding mm

Figure 1.1: Chocolate brands of Mars Incorporated... Figure 1.3: M&M's colorful chocolate candies... Brand Attributes: Famous for its rich milk chocolate flavor combined with colorful ca

MINISTRY OF EDUCATION AND TRAINING UNIVERSITY OF ECONOMIC AND FINANCE FACULTY OF MARKETING

ĐẠI HỌC KINH TẾ TÀI CHÍNH

FINAL REPORT DIGITAL BRANDING

Lecturer: Do Huynh Lam Thinh Member: Hoang Manh Han

Le Vu Ngoc Han

Le Ngo Quynh Thi

HCMC, 04/2024

Acknowledgement

“First, we would like to send our sincere thanks to the University of Economics and Finance

for including the subject Digital Branding in the curriculum In particular, we would like to express our deep gratitude to the subject lecturer - MR Lam Thinh for imparting useful knowledge to us during the past study period During the time participating in his Digital Branding class, we gained a lot of practical knowledge and the spirit of effective and serious learning This will certainly be valuable knowledge and a basis for us to be able to move forward firmly in the future

Digital Branding is an interesting, extremely useful and highly practical subject Ensure to provide enough knowledge, linked to the practical needs of students However, because knowledge is still limited and the ability to absorb reality is still confusing Although we have tried our best, it is certainly difficult for the essay to avoid shortcomings and many inaccuracies We hope you will review and give us suggestions to make our essay more complete.”

We sincerely thank you!”

Contents

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1 INTRODUCTION:

Year1941, Forrest Mars Sr., son of the founder of Mars, Inc., was inspired by Smarties - British sugar-

coated candy - to create M&M.M&M's (named after Mr Forrest Mars, Sr., & Bruce Murrie's Hershey

Company) is a type of "multicolored candy" Year 1945, M&M launched in the US market with the name "M&M Plain Chocolate Candies" M&M's is the flagship product of the Mars Wrigley Confectionery division of Mars, Incorporated They are produced in a variety of colors, some of which have changed over the years

Figure 1.1: Chocolate brands of Mars Incorporated

Figure 1.2:M&M milk chocolate was introduced in 1941

Figure 1.3: M&M's colorful chocolate candies

Figure 1.4: Pictures of fun candies

a Brand Awareness:

@e M&M brand awareness is high globally

e The M&M logo is easily recognizable with its colorful M&M characters

b._ Brand Recall:

e@ When it comes to chocolate, M&M is one of the first brands that consumers think of

e M&M products have unique, memorable flavors and shapes

ce Brand Image:

e M&M is positioned as a fun, dynamic and colorful chocolate brand

e M&M brand image is associated with happy moments, shared with friends and family

@ M&M is considered a suitable brand for all ages

d Brand Attributes:

Famous for its rich milk chocolate flavor combined with colorful candies

Diversity in product flavors, shapes and sizes

High product quality and ensuring food safety and hygiene

Brand Benefit:

Bringing a fun and exciting dining experience to consumers

A suitable gift for all occasions

Provides energy and nutrients to the body

e Famous brand: M&M is a globally famous chocolate brand with more than 75 years of history

Diverse products: M&M has many different flavors, colors and shapes, meeting the needs of

Lack of diversity in distribution channels: M&M mainly distributes products through traditional retail channels such as supermarkets and grocery stores The lack of diversity in distribution

High price: M&M has a higher price than some other chocolate brands

c Opportunity:

The chocolate market is growing: The Vietnamese chocolate market is growing and is expected

to continue to grow in the coming years

Demand for premium chocolate: Demand for premium, high-quality chocolate is increasing M&M can develop premium chocolate products with higher quality ingredients, handmade production processes and unique flavors to meet this demand

Online chocolate market:The online chocolate market is growing strongly M&M can develop online sales channels to reach more potential customers

Healthy snacking trends: M&M can develop chocolate products that suit healthy snacking trends, such as low-sugar chocolate, organic chocolate, and vegan chocolate

Chocolate Market

Market Size in USD Billion

CAGR 3.53%

USD 137.88 B USD 115.92B

Figure 2.1: Chocolate Market Share (2019-2029)

e@ Research Period: 2019-2029

@ Market Size (2024): USD 115.92 billion

@ Market Size (2029): USD 137.88 billion

e@ Market Concentration: Low

e Fastest Growing Market: Asia Pacific

e CAGR(2024 - 2029): 3.53 %

The Chocolate Market size is estimated to reach USD 115.92 billion by 2024 and is expected to reach

USD 137.88 billion by 2029, growing at a CAGR of 3.53% during the forecast period (2024 -2029)

Chocolate continues to be voted the most favorite flavor in the American confectionery category The

US chocolate consumption market is ranked 8th in the world, and the UK is the largest consumer

market for this category In a recent survey, 52% of Americans (both men and women) voted Chocolate

as their favorite candy among candies and desserts In this group, 65% chose Milk Chocolate and 27%

chose Bitter Chocolate The = remaining 8% have no choice at all

Chocolate Market: Market Size (%), Global, 2021

Source: Mordor Inteligence Mi

Figure 2.2: MarketChocolate Globally

The Vietnamese Chocolate market is experiencing impressive growth.Currently, the chocolate market

in Vietnam is worth about 250 million USD, which is only 10% of the potential value considering the population size and middle class Meanwhile, the world chocolate market is estimated to reach about

57 billion USD If Vietnam fully develops its market potential, it can account for 2.4% of the world

market, estimated at 1.36 billion USD

11

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@ The Hershey Company

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Figure 2.3: Mars, Incorporated leads the Chocolate market

Today, the M&M brand is sold in more than 70 countries and has become the largest and most famous

brand in the world In North America, M&M was voted the No 1 brand and is 50% larger than the No

2 brand Over 20 years, the business index increased by more than 1000%, promoting the brand to earn

2 billion USD in retail business, while the ratio of product categories doubled and nearly doubled with the development of retail sales overall development in 1995 M&M is a favorite Chocolate brand in Vietnam with a market share of 15% (2020) Ranked 2nd after KitKat.Currently, the chocolate market

in Vietnam is worth about 250 million USD, which is only 10% of the potential value considering the population size and middle class Meanwhile, the world chocolate market is estimated to reach about

57 billion USD If Vietnam fully develops its market potential, it can account for 2.4% of the world market, estimated at 1.36 billion USD Furthermore, M&M still maintains its leading position in this candy category because of its commitment to developing chocolate candy that is fun, bright and suitable for millions of loyal customers as well as new customers their The appearance of M&M Chocolate candy is not only global, suitable for all ages, genders and countries, it also brings fun colorful chocolates to everyone when relaxing

2 COMPETITORS:

Mars Incorporated Unreal Brands The Hershey Company

Famous product Snickers, Mars Bar, M&M's Unreal M&M's, Unreal Peanut

Chocolate

Hershey's Kisses, Reese's

Hershey's Chocolate Bars

Targeted customer Children, family Consumers care about health | All ages

Price Reasonable Higher than M&M and | Reasonable

Hershey's

Brand Positioning -Focus on the chocolate |-Focus on being a healthy | -Focus on the position ofa

brand's position as fun, | chocolate brand, using natural | traditional, long-standing

youthful and diverse ingredients and transparency | and reliable chocolate

colorful images and brings | smart consumers who care|-Associated with the

joy to customers

-Providing products with diverse flavors

to suit all tastes

chocolate about health

-Provide chocolate products

with diverse flavors, good for

family values

-Providing high quality chocolate products at reasonable prices

Table 1.1: M&M's competitors

- M&M's key differentiators from its competitors include its unique candy coating, which allows for a variety of colors and flavors, and its brand personality, which is fun, quirky and engaging

- Additionally, M&M's strong brand recognition and extensive marketing efforts have helped M&M establish a loyal customer base and remain a leader in the candy industry M&M's

marketing campaigns have always focused on the fun aspect of the brand, with the famous slogan "Melts in the mouth, not in the hand" being a prime example This message reinforces the playful and fun nature of the brand

- In recent years, M&M's has also positioned itself as a snack that can be enjoyed on the go, focusing on convenience and portability

Positioning Map:

UNREAL

PRICE|

Figure 5.1: Positioning Map

M&M's was rated as the chocolate brand with the highest perceived flavor in this survey, beating two

famous competitors, Unreal and Hershey's Chocolate Unreal Gems, a health-conscious chocolate

brand, makes it difficult to leverage flavor as a strength Because Unreal cares more about healthy food than delicious taste Hershey's is slightly more expensive than M&M, but in terms of deliciousness, M&M is leading M&M's is considered a cheap choice for consumers Although M&M does not have

much of a price difference compared to the other two brands, data shows that it is the market leader in

terms of perceived taste

3 TARGET AUDIENCE:

SOCIAL LISTENING:

Instagram:

M&M's Instagram account (@mmschocolate) has more than 1.2 million followers and features a mix

of product photography, user-generated content and creative marketing campaigns M&M's engagement rate is 0.15%, with an average number of likes/posts of 1.8k and comments/posts of 43 The brand regularly uses bright, eye-catching images and Playful captions to engage your audience One of the key strengths of M&M's Instagram presence is its focus on user-generated content The brand regularly reposts photos and videos of fans enjoying M&Ms, which helps build community and encourage engagement M&M's also uses Instagram Stories and Reels to showcase new product launches and creative marketing campaigns, adding a fun and interactive element to the brand's social media presence M&M’s sticks to its fun and unique brand image by using relevant and friendly content The aesthetics of M&M's brand assets are completely consistent with the brand image/personality Overall, M&M's Instagram presence is well-managed and engaging, focused on building a strong community of fans and followers

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TikTok:

M&M's TikTok account (@mmschocolate) has more than 185,000 followers and features a mix of product-focused content and creative marketing campaigns The brand's TikTok presence is relatively new, and it seems like it's still finding its footing on the platform One of the strengths of M&M's TikTok presence is its use of humor and creativity to engage its audience The brand has created several viral TikTok videos featuring M&Ms in fun and unexpected ways, helping to create buzz and build brand awareness However, one area where M&M's TikTok presence could be improved is its consistency The brand's TikTok account appears to be updated less frequently than its Instagram account, which could lead to a loss of motivation and engagement

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Official TikTok for colorful fun

Group 8 Digital Branding

Instagram and TikTok Consumer Feedback from Comments:

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Twitter:

M&M's Twitter account (@mmschocolate) has 217,700 followers and runs campaigns that include partnerships with other brands Recent collaborators include the New Jersey Devils, TSA, Barbie (film) and the Oscars Twitter accounts of other often unrelated brands interact with M&M's posts by commenting or retweeting content Similar to its presence on other platforms, the brand's Twitter activity presents a positive, bright and cheerful image As of early 2023, M&M's most famous Tweet has been announcing that they are retiring their iconic Spokes Candies and replacing them with actress and comedian Maya Rudolph The original tweet recetved more than 69,000 likes and 22,000 comments Many of the comments on the post were political, with many accusing the brand of giving

in to conservative critics Overall, M&M's has a strong presence on Twitter, where it effectively interacts with other brands and creates ongoing and consistent conversation around the product

One for all & all for fun! Making chocolate for all funkind since 1941 Trends for you

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focuses on children and teenagers because this is the target group that tends to consume more chocolate products

> Gender: regardless of gender

> Income: low to high

GEOGRAPHIC

Concentrated in large, densely populated city areas such as Ho Chi Minh, Hanoi, Da Nang,

BEHAVIORAL

- Use asa gift

- Use to make food and drinks

- Meets preferences and habits of eating sweets

¢ PSYCHOLOGY

- Likes to eat sweets and chocolate

- Pay attention to your health and have a healthy lifestyle

- Pay attention to appearance and body shape

- Give gifts to relatives, friends, children, etc