Building brand for gatsby hair styling wax of mandom corporation in vietnam

TRƯỜNG ĐẠI HỌC MỞ TP HCM UNIVERSITÉ LIBRE DE BRUXELLES HO CHI MINH CITY OPEN UNIVERSITY SOLVAY BRUSSELS SCHOOL MBMM5 VÕ XUÂN MINH KHA BUILDING BRAND FOR GATSBY – HAIR STYLING WAX OF MANDOM CORPORATION IN VIETNAM MASTER PROJECT MASTER IN BUSINESS & MARKETING MANAGEMENT Ho Chi Minh City (2012) COMMITMENT This is the project I have created myself base on the knowledge I gained from many interesting subjects during the Master In Business & Marketing Management course year 2010 - 2012 of Solvay Brussels School and the Ho Chi Minh City Open University I commit that this project is completed with my high honesty I’ll fully take responsibility for any mistakes or incorrect information given in this project ACKNOWLEDGEMENTS Firstly, I would like to send my great thanks to all professors of Solvay Brussels School and the Ho Chi Minh City Open University for the useful marketing knowledge in the Master In Business & Marketing Management course year 2010 – 2012 Secondly, I would like to send many thanks to my tutor – Professor Bui Thanh Trang who has provided me a lot in giving guidance, advices and comments on how to build up an effective brand building plan I also want to say thanks to colleagues to support me for clearly understanding about the male grooming market, market research and even share the time in working during my studying Last but not least, I would like to send my special gratefulness to my family and my friends who have heartily supported me to successfully complete this project TURTOR'S COMMENTS This project is met the requirement for final project of MBMM program The authour has tried the best to study and analyze the market of Hair styling wax to build brand for GATSBY of MANDOM Corporation (Japanese company) in Vietnam The thesis follows a good structure, from the approach of problem to solutions with reliable statistic from reputation sources Capability of applying suggested building brand for GATSBY in practice business is high Therefore, I hereby propose this thesis to be presented to the jury’s board Dr Bui Thanh Trang ABBRIVEATIONS ATL Above The Line BTL Below The Line BOD Board Of Directors BUMO Brand Used Most Often users CEO Chief Executive Officer Co Corporation FGD Focus Group Discussion F2F Face to Face HCMC Ho Chi Minh City HS Hair Styling IMC Integrated Marketing Communication POP Point of Purchase POSM Point of Sales Materials PR Public Relations P1Y Past Year users P3M Past Months users REF Reference SWOT Strength/ Weakness/ Opportunity/ Threat TOM Top of Mind T2B Top Box TV Television WTO World Trade Organization THE TABLE OF FIGURES Figure 2.1: How brands create value Figure 2.2: Brand Management Model Figure 3.1: Population of Vietnam 11 Figure 3.2: GDP growth of Vietnam 12 Figure 3.3: Vietnamese GDP per capital 12 Figure 3.4: Hair styling brand positioning chart 16 Figure 4.1: Research framework 18 Figure 4.2: The hair styling category 20 Figure 4.3: Starting age of hair styling wax using 21 Figure 4.4: Sources of styling wax awareness 22 Figure 4.5: Triggers to try styling wax 22 Figure 4.6: Occasion to use styling wax 23 Figure 4.7: Styling Wax Brand Awareness 24 Figure 4.8: Styling Wax Brand Awareness by Group 25 Figure 4.9: Styling Wax Brands Sources of Awareness 26 Figure 4.10: Brand Funnel 27 Figure 4.11: Brand satisfaction 28 Figure 4.12: Brand Preference 28 Figure 4.13: Key purchasing factors - Mean score 29 Figure 4.14: Brand Associations 30 Figure 4.15: Brand Imagery 31 THE TABLE OF CONTENTS EXECUTIVE SUMMARY CHAPTER I: INTRODUCTION 1.1Rational of the project 1.2 Project objective 1.3 Scope and limitation of project 1.4 Research methodology .4 1.5 Project structure CHAPTER II: LITERATURE REVIEW 2.1 What is a brand? 2.2 How brands create value 2.3 Brand building process .6 2.4 What is Branding? .8 CHAPTER III: MARKET ANALYSIS 3.1 Internal environment 3.1.1 MANDOM Corporation 3.1.2 About GATSBY brand 3.2 External environment 10 3.2.1 PESTEL Analysis 10 3.2.1.1 Political factors 10 3.2.1.2 Economic factors 10 3.2.1.3 Social factors 13 3.2.1.4 Technology factors 13 3.2.1.5 Environment factors 13 3.2.1.6 Legal factors 13 3.2.2 Competition 14 3.3 Consumer environment 16 CHAPTER IV: MARKET RESEARCH AND FINDINGS 18 4.1 Research objectives 18 4.2 Research framework 18 4.3 Research methodology .19 4.4 Sample size 19 4.5 Data collection 19 4.5.1 Exploratory stage 19 4.5.2 Descriptive stage 20 4.3 Research results and findings 20 4.3.1 Main findings in Hair styling category and position of wax 20 4.3.2 Snapshots about styling wax market 21 4.3.3 Styling wax brand awareness and usage 24 4.3.4Styling wax purchase habit 29 4.3.5 Styling wax brand imageries 29 4.4 SWOT Analysis 32 4.4.1 Strength 32 4.4.2 Weakness 32 4.4.3 Opportunities 33 4.4.4 Threats 33 CHAPTER V: CONCLUSION AND RECOMMENDATIONS 35 5.1 Conclusion 35 5.2 Recommendations 35 5.2.1 Marketing goals and objective 35 5.2.2 Brand strategy 35 5.2.2.1 Target consumers 36 5.2.2.2 Brand positioning 37 5.2.2.3 Product strategy 37 5.2.2.4 Distribution strategy 37 5.2.2.5 Pricing strategy 38 5.3 Brand management 38 5.4 Integrated marketing communication strategy in 2012 39 5.4.1 Communication target 39 5.4.2 Communication objective 39 5.4.3 Communication message 40 5.4.4 Communication activities 40 5.5 Recommendation for implementation and monitoring marketing activities 41 5.5.1 Marketing schedules 41 5.5.2 Marketing budget 42 5.5.3 Post check 42 REFERRENCES 43 APPENDIX 1: FOCUS GROUP DISCUSSION GUIDELINE 44 APPENDIX 2: QUESTIONNAIRES FOR STYLING WAX PROJECT 48 APPENDIX 3: SHOWCARD PHOTOS OF STYLING WAX BRAND 67 APPENDIX 4: STYLING WAX PRICE LIST IN VIETNAM MARKET 69 EXECUTIVE SUMMARY Hair styling wax is quite new in Vietnam market even though other hair styling products such as foam, gel, cream…) are popular and high potential to expand in future amongst male target With the young & growing population, Vietnam has potential for investors in the personal care industry Especially with the growing male grooming market, it is attractive for many players including Global Groups such as: Unilever (Clear Men, Rexona, Vaseline, Axe…), Unza (Romano), Rohto (Oxy), BDF Bieersdorf (Nivea)…as well as Local Corporations e.g.: ICP (X-men), VietCos (Ramus) In hair styling category, the most popular form is hair gel, following cream and foam while wax has small share still as current The products are mostly imported brands: L’Oreal, GATSBY, Double Rich, etc, except: X-men & Ramus with hair gel type With the product’s advantages of wax, the growing of Vietnamese male grooming market and the explosion of communication media channels, it is expected the growth of styling wax share speedily To capture this opportunity, MANDOM Co.,in Thailand decides to push up the communication for wax styling products of GATSBY brand at the st step to set up the Brand Identity for fully entering Vietnam market with the whole male grooming category later on The research has been carried out examine the current brand health of GATSBY amongst young male target, identify the SWOT of GATSBY and find out the consumer’ insight That would help GATSBY to penetrate and exploit its market share with the well marketing strategies The findings for GATSBY are quite favorable as it is perceived as No.1 brand in styling wax currently however the penetration is low still Hence, GATSBY needs to improve the brand awareness, providing products understanding in the 1st stage as 55 Q9 SHOWCARD – ASK FOR BUMO IN Q7d [SA] You’ve said to use [BRAND & TYPE IN Q7d] the most often So, considering all aspects, please tell me to what extent you feel satisfied with that brand? 1-Not satisfied at all Q10 4-So so 7-Extremely satisfied ASK FOR BUMO IN Q7d Now thinking about the time you’ve used _ [BRAND & TYPE IN Q7d], please tell me anything that makes you dissatisfied about it Anything else? What else? ASK Q11~12 FOR AWARED BRANDS IN Q3~5 Q11 SHOWCARD & DROPCARD OF AWARED BRANDS [SA per awared brand] ROTATE BRANDS – ASK VERTICALLY Which of the following statements best describes the possibility that you would purchase [AWARED BRAND IN Q3~5] in your next purchase of hair styling wax? Q12 DROPCARD [SA] If price is not a matter and all the brands shown are available to you, which one would you be most likely to purchase? (Choose main brands to ask) Q11 SA per brand It would be my first choice [R1] It’s a brand I’d seriously consider Q12 [SA] It’s a brand I might consider It’s a brand I’d not consider Don’t know (NOT in showcard) Most likely purchase 56 [R2] [R3] [R4] [R5] [R6] [R7] II PURCHASE HABIT P1 SHOWCARD [SA] How often you purchase _ [BUMO IN Q7d] for your own usage? Once a month or more often than that Once every 2-3 months Once every 4-6 months Once a year Less often than that Not defined/ don’t know P2 SHOWCARD – ASK FOR BUMO IN Q7d [SA] Where you normally buy [BUMO IN Q7d] that you’ve used the most often? Cosmetics shops inside supermarket Cosmetics shelves in supermarket Convenient stores (Medicare, Shop & Go) Cosmetics shops in shopping mall (Diamond Plaza, Parkson,…) Cosmetics shops in wet market Direct sales Buy online Grocery Pharmacy 57 Hair salon Barber shop Bookstore Other (specify _) P3a SHOWCARD – SA Normally how many units of _ [BUMO IN Q7d] you buy? or more P3b SHOWCARD – SA And per occasion to buy _[BUMO IN Q7D], how much you normally spend? < 20.000 d 20.000 – 30.000 d 30.000 – 40.000 d 40.000 – 50.000 d 50.000 – 60.000 d 60.000 – 70.000 d 70.000 – 80.000 d 90.000 – 100.000 d > 100.000 d P4 SHOWCARD – SA Now thinking back to the last time you purchased _ [BUMO IN Q7d] that you’ve used the most often, what was the main reason for you to buy it? 58 I bought it by habit I have been satisfied with the product in previous usage I saw it advertised on other means (print ad, POSM, leaflets, etc.) It was recommended by family/ friend I saw its merchandising at POP My intended product was not available It was at affordable price It was recommended by sale person/ PG I saw eye-catching product display It was recommended by store owner/ sales staff Other (specify ) Don’t know/ Don’t remember P5 SHOWCARD – SA Just imagine next time when you come to [PLACE IN P2] to buy [BRAND & TYPE IN Q7d], there is no product available or the product runs out of stock What would you most likely then? I would go back to that place later to buy it I would try other places to look for it I would ask for the same brand in other type I would ask for other brand in same wax type I would ask for other brand in other type I would try or more places to look for it; if still not finding it out, I would ask for same brand in other type I would try or more places to look for it; if still not finding it out, I would ask for other brand in same wax type I would try or more places to look for it; if still not finding it out, I would ask for other brand in other type Other (specify _) 59 Don’t know/ Don’t remember SHOWCARD P I am now going to read out some factors that people say to influence their hair styling wax brand choice for their own usage When I read out a statement, please let me know how important it is to you to select a styling brand by using 5-point scale where “5” means “Very important” down to “1” means “Not important at all” 10 11 12 13 14 Suppress the shine of hair Come in a big volume Do not hold the hair too steady Control curly/ wavy hair Avoid shelved/ frizz Can control amoutn dispensed Leave a non-shiny/ non-glossy finish Fingers pass through the hair well after styling Dry the beautiful black hair finish Give the beautiful black hair finish Fix the bed-head Have treatment effect Have good packaging design Repair hair damage 5 5 5 5 5 5 5 in showcard) Don’t know (not shown Very important Not important at all There is no right or wrong answer; your own idea is critical to us 60 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 Prevent hair from falling Hair being smooth and flowing Suppress the dandruff Do not make hair too shiny Give shine/ gloss to the hair Portable/ Easy to carry around Moisturize the hair Can make scatter hair/ create waves in hair Can be take off easily with shampoo Do not make the hands sticky Do not make the hands dirty Brand Can re-style the hair after applying Can make hair flow/ Manage hair Do not make hair sticky Hold the hair very steady Can make hair stand up Can be used easily Smell good Keep hair style for a long time Create the desired hair style 5 5 5 5 5 5 5 5 5 5 61 III BRAND IMAGERY I1 ONLY ASK FOR AWARED BRANDS (Q3~5) SHOWCARD Read out some important factors to select hair styling wax brands When I read out a statement, please let me know which brand/s are suitable for that factor You can select 1, more than 1, or no brands if you think no brand is suitable for it None of them There is no right or wrong answer; your own idea is critical to us 10 11 12 13 14 15 16 17 Suppress the shine of hair Come in a big volume Do not hold the hair too steady Control curly/ wavy hair Avoid shelved/ frizz Can control amoutn dispensed Leave a non-shiny/ non-glossy finish Fingers pass through the hair well after styling Dry the beautiful black hair finish Give the beautiful black hair finish Fix the bed-head Have treatment effect Have good packaging design Repair hair damage Prevent hair from falling Hair being smooth and flowing Suppress the dandruff 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 62 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 Do not make hair too shiny Give shine/ gloss to the hair Portable/ Easy to carry around Moisturize the hair Can make scatter hair/ create waves in hair Can be take off easily with shampoo Do not make the hands sticky Do not make the hands dirty Brand Can re-style the hair after applying Can make hair flow/ Manage hair Do not make hair sticky Hold the hair very steady Can make hair stand up Can be used easily Smell good Keep hair style for a long time Create the desired hair style Overall this brand is appealing to me 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 63 I2 SHOWCARD - ONLY ASK FOR AWARED BRANDS (Q3~5) I’m going to read out some descriptive words that others normally use to describe hair styling wax brands When I read out a word, please let me know which brands you think are suitable for it Again, you can select brand, more than brand, or no brand for any word None of them It does not matter if you have not tried all the brands nor is there right or wrong answer It’s just your opinion that we are interested in Sporty 10 Simple 10 Natural 10 Masculine 10 Fashionable 10 Outdated/ Out of fashion 10 Flashy/ frivolous 10 10 10 10 10 10 10 10 10 10 10 10 10 11 12 13 14 15 16 17 18 Clean image Urban Composed/ Matured Youthful/ Active Unique/ Individualistic Friendly/ Gentle Calm Gaudy/ Showy Cool Professional For matured/ older man 64 19 Grown-up 20 Childish/ not matured 21 Made for my generation 22 Popular 23 Cheap looking 24 High class/ Luxurious 25 Good quality 26 New/ Modern 27 Normal 28 Trustworthy 29 Approachable 10 10 10 10 10 10 10 10 10 10 10 LIFESTYLE L SHOWCARD Which of the following statements best describes yourself? [SA] I enjoy learning new things, so I always long for owning or trying newest things Generally I enjoy new things but I not feel it necessary to own or try them immediately I know what I want or like, so I not pay much attention to latest things SHOWCARD L a As a student, apart from studying, which kinds of activities you normally spend time on? [MA] b Which activity you normally spend most time on? [SA] a [MA] Playing sports Playing billards b [SA] 65 Going karaoke Drinking (nhậu) Gaming Coffeeing Dancing Going to bar/ bub Going to music shows (xem ca nhạc) Going to cinema (xem phim) Going to theatre (xem kịch) Going around with girlfriend/ sweetheart Joining school activities (ie Youth Union’s/ Associations’ activities, etc.) Taking part-time job Taking soft-skill training course Watching TV Reading (books, newspaper, etc.) Listening to music Surfing internet Blogging/ connecting to social networks (Facebook, Twitter, etc.) Playing video games Playing online games Online chatting Other (specify _) None 66 SHOWCARD L a Please can you tell me what are the ways students like you normally learn new things and get updated information? What else? Any other ways? [MA] b What are the ways you yourself normally learn new things and get updated information? [MA] c And what is the most frequent way that you yourself normally learn new things and get updated information? [SA] a [MA] TV Radio Printed newspaper/ magazines Online newspaper/ magazines Forums on internet Internet (in general) Family/ Relatives Friends Supermarket Shopping mall Other places of purchase (apart from supermarket/ shopping mall) Other (specify _) b [MA] c [SA] 67 APPENDIX 3: SHOWCARD PHOTOS OF STYLING WAX BRAND BRAND LOGOS 68 PRODUCTS 69 APPENDIX 4: STYLING WAX PRICE LIST IN VIETNAM MARKET ORIGIN BRAND CORPORATION (for products in Vietnam) GATSBY MANDOM Indonesia L’Oreal L’Oreal Thailand Taft Schwarkorf, Henkel Ubermen POPULAR PACKAGE AVERAGE PRICE (VND) 75gr 55,000 100ml 120,000 China 85ml 70,000 Tohtonku Malaysia 80gr 85,000 Good Look Sams Cosmetic India 70gr 48,000 New Force Kensuko Japan 55gr 50,000 VO5 Alberto VO5 Japan 75ml 90,000 ... For developing the business plan in Vietnam of MANDOM Corporation, the company is planning to penetrate widen and depth into Vietnam hair styling market with the product GATSBY hair styling wax. .. Research results and findings 20 4.3.1 Main findings in Hair styling category and position of wax 20 4.3.2 Snapshots about styling wax market 21 4.3.3 Styling wax brand awareness... leading men’s cosmetics brand in Japan and Asia In Hair Styling category, GASTBY is No Hair styling brand in Japan, Indonesia, Hongkong and Singapore & No brand in Malaysia, Thailand & Korea In Vietnam,