Plan for launching biti’s hunter x individual assignment ThachVN SE04094 MKT101 IB1203 final

MARKETING RESEARCH Plan for launching Biti’s Hunter X Vũ Ngọc Thạch thachvnse04094@fpt.edu.vn REFERENCES Introduction Definitions and Background Information BINH TIEN IMEX CORP., PTE., LTD (BITI'S) Sơn Tùng M-TP Key Opinion Leader (KOL) Marketing Strategy 4P Analysis Milestones of Biti’s Situational Analysis Objectives Strategies The Impact of KOL on Biti’s Hunter launching plan 10 Conclusion and Suggestion 12 References 13 Introduction BINH TIEN IMEX CORP., PTE., LTD (Biti's) campaign "Tay Son spirit speed" took place in 2002 has brought back the successful and create a great impression in the mind of customers After 15 years, by the country's expanding integration, Biti's is dying day by day in the old trail, until the launch of Biti's Hunter sports shoes in December 2015 It is a depth investment in design and competitive pricing, Biti's truly transformed itself and came back strongly Definitions and Background Information BINH TIEN IMEX CORP., PTE., LTD (BITI'S) Binh Tien Imex Corp., Pte., Ltd, the brand name – Biti’s, were established in Ho Chi Minh City from 1982; former two production units called Binh Tien and Van Thanh with 20 employees, and specialized in producing rubber sandals In 1986, the two units has merged into Binh Tien Rubber Cooperative which started producing high-quality footwear for the domestic market and exporting to Eastern and Western Europe It then changed to BINH TIEN IMEX CORP., PTE., LTD Company At present, Biti’s is the leading footwear manufacturer in Vietnam With the strong growth, Biti’s have also penetrated to real estate investment field They built trade centers and many apartments in the North, in the Middle and in the South of Vietnam in order to meet the requirement of Vietnamese people in doing business and requirement of houses to live in the situation of integrating to the world market Biti’s has become a group of 02 companies: Binh Tien Imex Corp., Pte., Ltd (Biti’s) and Binh Tien Dong Nai Imex Corp., Pte., Ltd (Dona Biti’s) Sơn Tùng M-TP Nguyễn Thanh Tùng (born July 5, 1994), known professionally as Sơn Tùng M-TP, is a Vietnamese singer-songwriter and actor Most of his songs, such as "Cơn mưa ngang qua", "Em ngày hơm qua", "Chắc về", "Chúng ta không thuộc nhau",… became big hits and earned the top ranking in Vietnamese music charts His debut leading role, Đình Phong, in the movie Dandelion won Golden Kite Awards for Best New Actor and received overwhelming positive feedbacks from the media, movie reviewers and public audiences In 2015, he won the MTV EMA Milan 2015 for Best Southeast Asian Act In the early of 2017, Sơn Tùng M-TP became Biti’s Brand Ambassador His influence, especial in the young Vietnamese people, has made a big help in Plan for launching Biti’s Hunter X by wearing a pattern of Hunter Feast on his MV “Lạc trôi” Key Opinion Leader (KOL) KOL, better known as Key Opinion Leaders, are what consumers are gravitating towards in hopes to filter the clutter that digital advertising has created They are seen as having more importance and relevance than mass media because they are able to connect and relate to their audience in a way that’s intimate and authentic Key Opinion Leaders work double-duty: they not only connect with their audience, but in most cases, they also have a specific target demographic This allows brands to effectively allocate their marketing budget because of the targeted, niche audience the influencer has access to In this research, we will take the point on Sơn Tùng M-TP as a KOL in Biti’s Hunter Launching plan Marketing Strategy 4P Marketing is simplistically defined as “putting the right product in the right place, at the right price, at the right time” Though this sounds like an easy enough proposition, a lot of hard work and research needs to go into setting this simple definition up And if even one element is off the mark, a promising product or service can fail completely and end up costing the company substantially The use of a marketing mix is an excellent way to help ensure that “putting the right product in the right place, at the right time” will happen The marketing mix is a crucial tool to help understand what the product or service can offer and how to plan for a successful product offering The marketing mix is most commonly executed through the 4P’s of marketing: Price, Product, Promotion, and Place These have been extensively added to and expanded through additional P’s and even a 4C concept But the 4Ps serve as a great place to start planning for the product or even to evaluate an existing product offering Analysis Milestones of Biti’s 1982 Established 1982 Openness 1990 Renovate Tech 2001 ISO 9001:2000 2016 Leading footwear company in Vietnam The process of formation and development: • • • • • • • • • • • • • • • In 1982, Biti’s has established in Ho Chi Minh City, former of two units called Binh Tien and Van Thanh with 20 employees, focusing on simple sandal production In 1986, two units had joined into “Hợp Tác Xã cao su Bình Tiên”, production force to domestic consumption, and exports to Eastern Europe and Western Europe In 1989, “Hợp Tác Xã cao su Bình Tiên” has become the first Vietnam Non-state units of which has grant the right to imports and export directly In 1990, “Hợp Tác Xã cao su Bình Tiên” has renovate production technology (EVA) In 1991, Sơn Quán joint-venture company has established This is the first Vietnam’s joint-venture company between a Vietnamese private sector and a foreign company (for 18 years) In 1992, “Hợp Tác Xã cao su Bình Tiên” has transformed into Consumer Goods Manufacturing Company Bình Tiên (Biti’), producing foam slippers, sandals, shoes… for consume inside and abroad In 1995, Bình Tiên Đồng Nai Co., Ltd (Dona Biti’s) has established In 2000, Representative office in Yunnan, China has established In 2001, Biti's has been certified ISO 9001: 2000 by BVQI and QUACERT In 2002, Biti's Tây Nguyên Trade Center has established In 2005, Biti's Northern Trade Center has established In 2006, Biti's Lao Cai Trade Center has established In 2008, Biti's West Branch has established In 2009, Biti's South Branch has established; Launch of Hanoi - Lao Cai - Hanoi Sapaly railway In 2013, Launches the first 4-star hotel in Lao Cai: Sapaly Hotel Lao Cai Achievements and Evaluation: • • • Top 40 The most valuable corporate brand in Vietnam 2016, 2017 Become Vietnam National Brand Value twice(2008 and 2010) Received "Top Brand in Vietnam High Quality Brand" in 2007 • Won the Top Ten Gold Cup of Vietnamese prestige brand by the Union of Science and Technology Associations of Vietnam years in a row (2005, 2006 and 2007) Situational Analysis The growing of economy standard goes along with higher competencies In the years of 2000-2014, Vietnam’s Ministry of Industry and Trade has increase in actions of foreign trade Which mean, any Domestic Corporation like Biti’s has to face with a problem of to be in competition with others Foreign Enterprises As a long-standing Domestic Corporation, Biti’s has their unique advantages, in specifically is Biti’s Hunter Internal Analysis: Competitive advantages: • • • • • Deep-rooted in Vietnam Market Distribution system Vietnam high quality goods Brand awareness Lower cost, to be compared with Nike, Adidas Brand equities: • • • • • Leader in the footwear for youth in Vietnam Good quality, lower price Energetic, Comfortable design Gender-specific The youth loyal to Hunter External Analysis: Demography: • • • Vietnam has more than 90 million people About 18% Vietnam population in the age of 16 - 25 About 33.6% of total population are Urban citizen Economy: • • • • In 2007, Vietnam has joined WTO – more competitive, export-driven industries Vietnam was one of 12 nations that concluded the Trans-Pacific Partnership free trade agreement negotiation in 2015 During 2015, Vietnam’s managed currency, the dong has depreciated about 5% GDP growth with the rate of 6.7% Footwear Industry: • • Majority of the companies are owned by Vietnam government and private sectors 119 enterprises (72 private enterprises and 44 FDIs) that produce raw materials and machinery for the footwear manufacturers Total footwear suppliers: 23% are FDIs that share 77% of the country’s total export sales Nearly a half of them are from Taiwan and South Korea Exports of Vietnams’ footwear in 2015 is $12 billion Fashion styles preference (Teenagers): • Vietnamese teenagers choose fashion styles that are on trend, but they must reveal theirs characteristic at the same time  Want to be different and live true to their personality, while still being acceptable and trendy Fashion styles preference (20-29): • Although the need to show their personality via fashion is less than the teenagers, the Vietnamese Young still prefer characterized, but trendy clothing Behavior trends: • Social media allows people to express themselves  Vietnamese youth begin to realize the need to be heard, to stand among the crowd and to build a favorable personal image among the community • Backpacking is popular among young people • Vietnamese young people show an interest in daring and adventurous entertainment activities • Quick and easy-going relationship is a norm  Vietnamese young people like to take risks in their lifestyle and behavior They adopt trends that are daring and adventurous very fast, as long as it is not too dangerous Technology: • • • Media and Communications: The international communications system and internet infrastructure are very popular in Vietnam About 52% population use Internet in Vietnam In 2015, mobile broadband Internet have 36.28 million subscribers, with the rate of 40.1 subscribers per 100 inhabitants Ecology: • Rapid development combined with deforestation, few or nonexistent vehicle emission standards, polluting gasolines motorbikes, and poor urban planning have caused poor air quality in major cities Competitor Analysis: • • Direct competitors as international sport shoes brands: Nike, Adidas, Reebok, Puma, Vans… Other direct competitors: Vina Giày, Hồng Thạnh, Converse… Positioning map-sport shoes: SWOT Analysis: Objectives Missions: • • • Create the high quality and fine design sport shoes with affordable price especially for Vietnamese About 50% target audience is aware of campaign Gain 10% market share in the first year Vision: • • • Gain 30% market share in 2020 Become the international brand Main gaining sale brand for the company • • Spread to the Europe and America market Become the leader in Vietnam medium segment sport shoes market Strategies Marketing Objectives: • • • • • • • About 30% target customer is aware of Biti’s Hunter About 5% of them buy the product 15 times engagement on social media, digital platform in the first year About 10 million reach, million engagement (like, share, comment) for online content on fan page About 150 articles on online newspapers (80% is earned media) PR Clips appeared on Youtube Trend Dashboards Number topic about sport shoes which have most discussion and comment on social media in Vietnam.| Financial Objectives: • • • 500 million lost at most for the first months Earn revenue after the first months Reach break-even point in year Marketing Strategies: Plan for launching Biti’s Hunter X focus on aspects: - Price Adjustment Product Improvement Increasing Promotion Price Adjustment: • • Lowering product price with the aim of increasing sales, getting the number of customers After getting a stable number of loyal customers, the price of the product will increase to gain revenue, improve the product Product Improvement: • • Improve quality, develop more designs by recruiting new young design team Upgrade the product, expand to many product lines, such as sport shoes for football, basketball… Increasing Promotion: • Target customer: Young people who aged from 16 to 25 • Target cities: big ones (Ho Chi Minh, Ha Noi, Hai Phong, Can Tho, Hue, Da Nang)  Invest to digital marketing to reach them easier Digital platforms include social media, viral clip, online articles, pay per click, mobile engagement  Invest to event sponsorship, choose the right KOL (Sơn Tùng M-TP for this case) Diversity Activity Plan: • • • • • • Uber Move: A co-operate campaign between Biti’s and Uber on 01 Apr 2017, that every Uber customers on this day has a chance to receive a pair of Biti;s Hunter Giveaway: This is an activity on fan page, where follower need to capture their favorite colors of Biti’s Hunter in a graphic interchange image, like and public share for the chance win to a pair of Biti;s Hunter VR Hunter Experience and University Tour: Experiment activities in commercial center and university, where participant can join to win a pair of Hunter in black – a limited version of Biti’s Hunter shoes Team Hunter T-shirt Giveaway: Giveaway T-shirt of Biti’s Hunter Team on fanpage Hunt Hunter Shoes Online: Giveaway sale off code on popular website like Dantri.com, Kenh14.vn, Soha.vn … “Happiness to me is…” Campaign: It’s became a trend during International Day of Happiness - 20 March 2017, where people share what is the happiness to them The Impact of KOL on Biti’s Hunter launching plan The successful KOL strategy has bring Biti’s a great result for Biti’s Hunter launching plan In 2017, as the release of Lạc Trôi, Biti’s Hunter became one of top 10 Business Strategy has mentioned the most on social media in January 2017 The mini games, competition and the news has updated usually updated on fan page which is influence on Vietnamese youth community (Kenh14.vn, YAN, Yeah1…) also help brand getting closed to their customers 10 Sơn Tùng M-TP has released a powerful new video for his song: “Lạc Trôi”, he became the most mentioned singer in social media, he also became the famous who has the most reach and like from the news, picture and video about this song In the first months of 2017, Biti’s had made a good interact on social media (more than 500 discussions) Almost of these come from Facebook because of fan page It’s not a huge number of discussion on months, but the effectiveness is need to be count Nearly million views, 20.000 comments, 4.5 million likes, 2.000 share are really good number to show the success on approaching target consumer 11 Biti’s spent billion Vietnam Dong on the launching of Biti’s Hunter to win confide of middle and low consumer segment Only one week after the release of MV “Lạc Trôi”, Biti’s Hunter goes on a fire sale in the whole country; 300% is the number of quantity sales that Biti’s received, to be compared with quantitative sales target Even more, Biti’s has the contract with Walt Disney for Vietnam’s Fairy Tale image on production Conclusion and Suggestion Plan for launching Biti’s Hunter X, to be compared with other brands, this is not a truly a recognizable campaign It’s a Vietnamese brand is focused on social media for the first time and has the right invested in the campaign Biti's Hunter has the advantage of price, design and love for domestic brands, but in terms of emotional benefits - a very important element in the sport production, Biti's has many disadvantageous compared to competitors The market of sports shoes in Vietnam with the fierce competition between the major brands such as Nike, Adidas, Puma now has the name Biti's However, the question of whether the Vietnamese brand is upstream or not still a big mystery and needs a lot of time to answer 12 References Biti’s Homepage [online] Available at: https://www.bitis.com.vn/pages/buoc-tienphat-trien RunRepeat.com ranking of shoes [online] Available at: http://runrepeat.com/ranking/rankings-of-overall-running-shoes Social Listening Buzzmetrics Social media rankings in January 2017 [online] Available at: http://buzzmetrics.com/topbuzz-bang-xep-hang-social-media-thang-012017 and Decode Vietnamese brand name on social media [online] Available at: http://buzzmetrics.com/bitis-hunter-giai-ma-suc-nong-thuong-hieu-viet-tren-socialmedia Đứ c Tài, August 2017 Biti’s After “The Jump” Hunter [online] Available at: http://nhipcaudautu.vn/doanh-nghiep/phan-tich/bitis-sau-cu-nhay-hunter-3319980 FTA Research & Consultant Explore Teenage Behavior and Lifestyle (10-19) Available at: https://www.slideshare.net/hiepnguyen215/khm-ph-hnh-vi-v-li-sng-tuiteen-1019-tui-market-research, page 9/40 and Explore Young People’s Behavior and Lifestyle (20-29) Available at: https://www.slideshare.net/ISCads/hnh-vi-v-li-sng-ca-ngi-tiu-dng-tr-tui-2029, page 10/38 13 ... Impact of KOL on Biti’s Hunter launching plan The successful KOL strategy has bring Biti’s a great result for Biti’s Hunter launching plan In 2017, as the release of Lạc Trôi, Biti’s Hunter became... Tùng M-TP became Biti’s Brand Ambassador His influence, especial in the young Vietnamese people, has made a big help in Plan for launching Biti’s Hunter X by wearing a pattern of Hunter Feast on... favorite colors of Biti’s Hunter in a graphic interchange image, like and public share for the chance win to a pair of Biti;s Hunter VR Hunter Experience and University Tour: Experiment activities