Failure of advertising activities of honey drop product in queenfood company

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UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Nguyen Ngoc Thanh Truc FAILURE OF ADVERTISING ACTIVITIES OF HONEY DROP PRODUCT IN QUEENFOOD COMPANY MASTER OF BUSINESS ADMINISTRATION SUPERVISOR: Dr Nguyen Thi Mai Trang Ho Chi Minh City – Year 2021 EXECUTIVE SUMMARY Queen Food Company is a company specializing in premium, healthy products Since 2013, Queen Food has launched Honey Drop Candy This is a product made from natural ingredients, good for health Although, has been in the market for nearly ten years, however, product advertising activities have not been focused, leading to a decrease in sales and customers Through extensive research efforts, two potential problems causing undesirable results have been identified as (1) Failure advertising activities and (2) Low benefit for the Wholeseller customers After the validation process, the first element "Failure advertising activities" was identified as the main issue Since then, further analysis was conducted to identify three potential causes of the problem, namely (1) Ineffective media channel, (2) Unimpressive advertising appeals and (3) Insufficient human resources Each of the aforementioned causes generates two sub-causes Finally, the Ineffective media channel was identified as the core cause Three options have been presented to address this issue Alternative Solution was ultimately chosen to design a thorough implementation strategy ACKNOWLEAGEMENT My first and big appreciation goes to my supervisor, Dr Nguyen Thi Mai Trang, for her marvelous supervision, guidance, and encouragement Sincere gratitude is extended to her generous participation in guiding, constructive feedback, kind support, and advice during my thesis Thank you very much, Ms Trang Also, I greatly appreciate all of the members of our group in ISB MBA 10 for their kind support I extend my thanks to all the BOD and staff of Queen Food Company for their continuous encouragement, support, and willingness to help, as well as they spend their time for advice and moral support Last, but not least, my warm and heartfelt thanks go to my family for their tremendous support and hope they had given to me Without that hope, this thesis would not have been possible Thank you all for the strength you gave me I love you all! Contents COMPANY INTRODUCTION 1.1 Company Overview 1.2 Organization structure 1.3 Sales Department 1.4 Product 1.5 Wholesale market segment: 10 SYMTOMS 11 2.1 The number of customers who stop cooperating increases 11 2.2 Revenue decrease 12 PROBLEMS IDENTIFICATION 12 3.1 Potential problems 12 3.1.1 Potential Problem 1: Failure advertising activities 13 3.1.2 Potential Problem 2: Low benefit for the Wholeseller customers 15 3.2 Cause-and-effect tree 16 3.3 Problem Validation: 16 CAUSE IDENTIFICATION 18 4.1 Potential Causes: 18 4.2 Potential cause 1: Ineffective media channel 18 4.2.1 Unrealistic target audience 18 4.2.2 Improper Use of passive Media 19 4.3 Potential cause 2: Unimpressive advertising appeals 20 4.3.1 Lack of effective content creative 21 4.3.2 Lack of professional designer 21 4.4 Potential cause 3: Insufficient human resources 22 4.4.1 Understaffed issue 23 4.4.2 Inexperienced staff 23 4.5 ALTERNATIVE SOLUTIONS 28 5.1 Cause validation: 25 Components for facebook advertising post 29 5.1.1 Caption 29 5.1.2 Photos/videos 29 5.2 The goal of advertising on facebook 29 5.3 Process of managing facebook channel 30 5.4 Altinative Solutions: 30 5.5 Justification of alternative solutions 31 SUPPORTING INFORMATION 34 6.1 METHODOLOGY 34 6.2 TRANSCRIPT 34 Interview transcript: Ms Winnie - Director of Queen Food 34 Interview transcript: Mr Phuong – Sale Manager of Queen Food Company 37 Interview transcript: Ms Diep – Marketing Manager of Queen Food Company 38 Interview transcript: Ms Winnie, Mr Phuong and Ms Diep 40 REFERENCES 42 FIGURE QUEENFOOD ORGANIZATION CHART FIGURE SALE DEPARTMENT CHART FIGURE THE CHART COMPARING THE RATES OF GROUPS OF CUSTOMERS 11 FIGURE CAUSE-AND-EFFECT TREE 16 FIGURE THE SECONDARY CAUSE-EFFECTS MAP FOR PROBLEM SOLVING 25 FIGURE MOST- USED SOCIAL MEDIA PLATFORMS IN VIETNAM COUNT TO JAN, 2021 ( IMAGE SOURCE: HOOTSUITE & WEARESOCIAL) 28 LIST OF TABLES TABLE TABLE OF THE NUMBER OF AGENTS OF THE BRAND HONEY DROP 11 TABLE SALES STATISTICS OF HONEY DROP FROM 2018 - 2020 12 TABLE WHOLESALE SALES VOLUME BY QUARTER FROM 2018 TO 2020 12 TABLE MEDIA, MARKETING & ADVERTISING INVESTMENT 14 TABLE TABLE COMPARING SALES OF HONEY DROP 14 TABLE DISCOUNT RATE BASED ON VALUE OF ORDERS (SOURCE: QF SALE DEPARTMENT) 15 TABLE SCORE OF POTENTIAL CAUSES GIVEN BY QF'BOD 26 TABLE CORRESPONDING CONTENT FOR FACEBOOK 30 TABLE APPENDIX A IN-DEPT INTERVIEW WITH MS WINNIE 35 TABLE 10 APPENDIX B IN-DEPT INTERVIEW WITH MR PHUONG 37 TABLE 11 APPENDIX C IN-DEPT INTERVIEW WITH MS DIEP 38 TABLE 12 APPENDIX D EVALUATION SURVEY OF ADVERTISING ACTIVITIES OF CUSTOMERS WHO REGULARLY BUY HONEY DROP PRODUCTS ERROR! BOOKMARK NOT DEFINED TABLE 13 APPENDIX E: TRANSCRIPT OF OPEN-END QUESTION 40 TABLE 14 APPENDIX F: JOINT INTERVIEW ABOUT THE SOLUTION 41 COMPANY INTRODUCTION 1.1 Company Overview Established in 2008, Queen Food is a company specializing in the export, import and distribution of high quality and healthy foods Since its establishment up to now, Queen Food has become the exclusive distributor of a number of premium food brands from many countries around the world such as Australia, USA, Canada and Spain … From the desire to create Vietnamese branded products with good quality to consumers and avoid the risks of problems from imported product lines, from 2013, Queen Food has researched to create a new product - Honey Drop candy Queen Food aims and focuses on building Honey Drop to become the company's main development product line in the future, not only for the Vietnamese market but also to reach out and export to other countries 1.2 Organization structure The company has a simple organizational structure The Head of organization is the Chief Executive Officer (CEO) who has the responsibility and authority to direct and give direction to the company Queenfood Company organization chart includes around 30 headcounts, which divided to accounting department (01), administrative department (05), sales department (07), Export & Import Department (04) and warehouse and delivery department (10) to reporting directly to CEO Director Sale & Marketing Department Administration Department Accounting Department Export & Import Department Warehouse & Delivery Department Figure Queenfood Organization Chart (Sources: A Food Company organization chart) Queenfood Company is as family scale company, so organization chart is traditional Administration Department provides administrative and technical support in the areas of administration works, payroll and legal but not performing compensation and benefit, also budgeting role Sales Department takes care both Sales and Marketing functions 1.3 Sales Department Sales and Marketing department of Queenfood has headcounts including Sales Manager, Assistant Sales Manager and Sales Staffs In addition, this department is responsible for not only sales but also marketing activities to promote products In fact, Sale Manager is mainly concerned with sale, while Sale Assisstant kum Marketing Manager will be responsible for sales information support and product marketing activities Sale representatives includes people, divided into parts: Online with people and Whole Saler and Retailers with people Each of them will take on the responsibility of not only sale task but also marketing as required by their superiors, which are obliged to report directly to Assistant Sales Manager Sale Manager Sale Assistant Whole Saler Commercial Marketing Retailers Online Figure Sale Department Chart (Sources: Queen Food Company organization chart) 1.4 Product Honey Drop is a herbal candy product - a combination of imported Australia honey and natural herbal essential oils (lemon, lemongrass,…) The product is not only a common candy, but also has an antiseptic effect and aids of lozenge in some cases such as cough, sore throat, alertness, etc Due to the background of importing high quality honey from Australia, the raw materials of this confection are guaranteed of natural origin and highest quality Not only investing in formulas and quality raw materials, Queen Food also invests a lot in the packaging of the products to suit the target group of customers who are high-end class with income from medium to high Honey Drop Candy has a compact, luxurious and eye-catching design aimed at directing customers to use it as a gift to customers and relatives Honey drop's target audience is highend customers, business people, office workers and housewives with stable incomes Subjects interested in product lines that are good for health and natural origin 1.5 Wholesale market segment: According to Queen Food's statistics in years of selling Honey Drop, customers are classified and divided into main groups: wholesale, retail, online and other In particular, the main sales of Queen Food currently come from the wholesale channel The customers of the wholesale group are usually supermarkets, food chains, and high-end stores Representatives include supermarket chains Annam Gourmet, Nam An, Coop Finelife,… Each orders of this customer group are usually large quantity and high value Mr Phuong [APPENDIX B p.35] - Sales Manager pointed out that: “The source of wholesale customers is the most important source of customers not only for the Honey Drop brand but also for many other products of the company The reason is that the wholesale customers are usually retailers Not only bring in sales every time they order, but they also help us to promote products to consumers closer” According to Ms Diep [APPENDIX C p.36] - Sale Assistant - in charge of marketing management said: “The Honey Drop product is a new product reaching the market, with a modest capital source for promotional activities, the best way for the product to reach the target audience soon is to try to expand in more market as possible" 10 Table Corresponding content for Facebook Purpose of post Type of content Banding : Branding story/Brand Positioning Interaction: Interact with trends/holidays/special days Sales : Product introduction / Promotions / Feedback from customers Provide Share knowledge and related information information: around products 5.3 Process of managing facebook channel Advertising on facebook is not simply creating content, but to be effective, it must also include the following management activities: (1) Create posts for the channel: based on the goals of the brand and the company from time to time, the manager will create appropriate content Usually, sales facebook pages will create content weekly in advance to prepare content and design (2) Schedule periodic reports: Determine when to report, what form of report and what KPIs need to be reported (3) Interact with customers: Answer fans' questions about the product, and will provide more information and interact with customers when necessary 5.4 Altinative Solutions: With a better understanding of the Components of a facebook ad post, the goal of a facebook ad, and the facebook channel management process, we see that the main tasks that need to be done for creating a facebook channel include including: content creation, image/video design, customer interaction, post management, statistics reporting and evaluation After listing all the tasks, now the discussion moves to the solution development phase The goal of this phase is to develop an advertising channel on the social network Facebook to solve the problem of ineffective media channels To so, we will use a hybrid in-house outsourced approach This means that the techniques in-house employees will use for some 30 tasks related to their expertise, and a dedicated third party will take care of the rest Applying this technique to the three core components of the site, this thesis proposes three mutually exclusive alternatives presented in Table 13 below Alternative Solution (AS) Outsource – Insource choice - Outsource 100%: content creation, image/video design, customer #1 interaction, post management, statistics reporting and evaluation - Outsource: content creation, image/video design #2 In house: customer interaction, post management, statistics reporting and evaluation - In house 100%: content creation, image/video design, customer #3 interaction, post management, statistics reporting and evaluation 5.5 Justification of alternative solutions Often, when we need to determine the most suitable solution for an organization, costbenefit analysis is often used for the job However, because the benefits that these three alternatives bring are quite similar, that is to solve the ineffective media channel However, as mentioned above, because human resources and expertise are limited, we will combine cost analysis - the professionalism of the solutions As mentioned before, professional ability to build online channel in Queen Food is very low Therefore, to perform the analysis, we combined three information sources First, we used desk research to get secondary data from the internet Secondly, through Ms Hoa, the business manager of V Media Company, connect with Ms Diep, the marketing manager of the company, to discuss the analysis in detail Third, a joint discussion session with Ms Winnie and Mr Phuong was held to evaluate the alternatives and make a final decision With Alternative #1, Queenfood will incur the highest financial outlay More specifically, according to Era content, the cost of outsourcing the entire Facebook Channel management including design and content creation ranges from VND 10,000,000 to VND 15,000,000 per month Both Ms Winnie and Mr Phuong acknowledged this expenditure as "quite high" and "needs to be considered" [Appendix F page 40] However, a professional unit that has experience in running ads on Facebook channel and is committed to consulting, achieving 31 results by agreement will support this solution package However, upon checking with Mrs Winnie still consider this cost and service provider's ability to respond Based on that confirmation, Alternative #1 will be omitted from our review team With Alternative #3, Queen Food will have to bear the lowest financial expenditure made by human resources who are employees in the company However, Ms Winnie is also quite concerned because the capacity of the staff is limited and they have their own duties in the work Therefore, she is afraid that they will take a long time to adapt and not meet expectations Based on that confirmation, Alternative #3 will be omitted from our review team In Ms Diep's view, Alternative #2 offers the perfect balance between outsourcing and outsourcing core components This solution requires an average level of technical expertise at an average cost These results are achieved by third-party platforms that provide custom design and content, and company personnel may also be involved in the management of the Facebook Ads Channel Alternative has proven itself, as Ms Winnie and Mr Phuong have confirmed, is an ideal and attractive solution for Queen Food to create an effective social media advertising channel At the same time, the company's employees will also have the opportunity to contribute to the development of this channel 32 IMPLEMENTATION PLAN Tasks Search information about service providers Alternative comparison Decision making Create a short and long term communication plan for facebook channel Proposing promotions & communication for each month Create Facebook promotional posts Content updating Description Person in Charge Utilizing desk research to determine available Executives of Sales providers and Marketing Team Crafting a list of criteria for comparison Deciding the most suitable service Ms Diep + Mr provider and package Phuong as well as making purchase decision Proposing a plan based on special demand of Ms Diep + Ms customers in each time Phuong + Sales and period of the year Marketing (special days, Department holidays, Tet) Based on the longterm plan, propose Sales and Marketing programs, images and Department + media content for the Outsource month to match the designers/copywriters plan Concretize the plan to Sales and Marketing create the content Department + posted on the facebook Outsource channel on a weekly designers/copywriters basis Based on the content Executives of Sales of articles published and Marketing Team Report to Time (starting Mar, 2021) Mr Phuong Ms Winnie days Ms Winnie Ms Winnie Quarterly Ms Diep Monthly Ms Diep Weekly Mr Diep Weekly + 33 on facebook, create appropriate images and content that catch Photo/Video Outsource up with trends to design designers/copywriters create excitement and attract customers' attention Estimated cost (monthly) Estimated cost (annually) Expected outcomes: o Achieving better brand awareness o Generating 50% - 75% more sales leads Mr Phuong Weekly 500,000 VND* 3,500,000 VND* SUPPORTING INFORMATION 6.1 METHODOLOGY Because of time and cost limitation for the problem solving project, this study will figure out the main problem and main cause with lead to the inaccuracy in accounting reports and suggest proper solutions for Queen Food Company Types of data sources include: - Secondary data: Queen Food organization structure, sale report, literatures in journals and researches, - Primary data: qualitative research and quantitative research Type of research tools to collect primary data: - Quanlitative research: in-depth interview and focus group 6.2 TRANSCRIPT Interview transcript: Ms Winnie - Director of Queen Food Location: Head Office of Queen Food Company Time: 22/03/2021 Duration: 30 minutes 34 Table APPENDIX A In-dept Interview with Ms Winnie Question Answer Good Morning It is very pleasure for me to see you today Good morning Could you please introduce something about your company? You know, I have established and built Queenfood Company since 2008 We specialize in importing food from all over the world and distributing in Vietnam In it there is a special brand of honey, which is rich in nutrients and antibacterial This is a very special honey brand from Tasmania, Australia With the available raw material is honey imported from Australia, in 2013, the company researched and developed How about the Honey Honey Drop candy This is my pride because this is the first Drop candy? Could you product invested and produced by Queen Food itself talk a little bit about this Therefore, in the future, Honey Drop is oriented to be the product? company's main product line in the Vietnamese market and further into the international market Could you please descript the product more clearly? Honey drop product is a kind of candy which is a combination of honey imported from Australia and natural essential oils such as lemongrass, lemon With raw materials ensuring origin and quality, we are committed to products with the best quality and competitive enough in the market Who are the target audience of Honey Drop products? Our end users want to target the number of high-end customers with medium to high income They really have a health concern and a need to find healthy foods In addition, we invest heavily in product packaging Because the target customers are high-class customers, we want the product image of packaging to reach customers who will also have a luxurious and classy appearance Honestly, since the first years of product research, we have not paid attention to the media because we wanted to focus a Do you have any plan to lot on research and create a high-quality product At that advertising this time, I want everything to be ready and if the quality of the product? product is up to the best standards, then we will push the communication and launch the product to the market 35 When did you start to invest in advertising the product to the market? In the early years of product development (from 2015 to 2018), we only focused on product research, for Honey Drop to be perfect and achieve the best quality, especially in terms of packaging form, but not really focus on advertising The target audience of Honey Drop products wants to reach high-end customers with medium to high income These people are often concerned about their health and in need of finding a good health care product Therefore, we pay a lot of attention to the packaging design of the product What are your wishes for the product? As a sales person and a business owner, profit is the first thing I have to consider when investing However, I also have the desire that my product will be known and used by many people because it is good for everyone's health Thank you so much for your sharing Thank you See you soon 36 Interview transcript: Mr Phuong – Sale Manager of Queen Food Company Location: Head Office of Queen Food Company Time: 22/03/2021 Duration: 30 minutes Table 10 APPENDIX B In-dept Interview with Mr Phuong Question Good morning Nice to meet you today How long have you been managing sales of this Honey Drop product? What is the target audience of Honey Drop Products? Which customer group is the most popular that is focused on the most? Have you encountered any obstacles in your product business recently? What are the causes of those obstacles? Answer Hi Hi there Please get straight to the point I have been working here for more than 10 years As for the Honey Drop candy product, I've been with you for nearly years Honey Drop products target are customers with incomes from good to high They can be office workers, business people or housewives To categorize customers and make tracking easier, we divide customers into four main groups: retail customers, wholesale customers, online customers and others Wholesale customers are the most important source of customers not only for the Honey Drop brand but also for many other products of the company The reason is that wholesale customers are sales representatives for the company and they sell products to retailers Not only bring financial benefits every time they place an order, but wholesale customers also act as a bridge to help us promote our products closer to consumers Recently, as reported by the sales department, I have seen some "strange" numbers Sales decreased slightly and the number of old customers gradually decreased This made me a little sad and a little surprised Because recently, we have started to invest in product promotion activities with the expectation of sales growth, but it does not seem to bring high results I surveys from regular customers and often talk about the fact that we are implementing product promotion activities However, my client does not seem to receive any promotional content Perhaps, my guess is that we have implemented ineffective advertising and not have a way to reach the right and potential customers 37 Do you have any suggestions? Now I not have any comments because my data is still incomplete However, I think something should be improved from the promotional activities to make it easier for my sales team to sell I think it's enough information for me today Thank you for your time Thank you Interview transcript: Ms Diep – Marketing Manager of Queen Food Company Location: Head Office of Queen Food Company Time: 22/03/2021 Duration: 30 minutes Table 11 APPENDIX C In-dept Interview with Ms Diep Question Could you please share with me about the promotional activities of Honey Drop products recently? How to approach customers and sell in? Have your company made any investments in advertising for the product? How can you allocate work for your team? Answer The Honey Drop product is a new product reaching the market, with a modest capital source for promotional activities, the best way for the product to reach the target audience soon is to try to expand in more market as possible Before 2018, most Honey Drop candy products were introduced and sold to familiar customers by the relationships However, most of them large orders of other imported products, Honey drop is just the additional product for them to trial sell Since 2018, we have started to invest in communication activities Every year, the company spends most of its marketing expenses on these Honey Drop products instead of other products However, the sales rate has not met expectations Sometimes, the marketing programs from time to time assign and assign tasks to different employees Due to the different times, events often arise that cannot be predicted Therefore, I also really want to develop a specific and detailed plan, but it still cannot be done up to now 38 Who will be in charge of product advertising? What are the forms and communication channels that Queen Food has implemented in the past? Ok Thank you for your valuable information See you soon The employees in the sales and marketing departments are the ones in charge of the main responsibilities When there is a task, I will be the one to receive and redeploy to the staff Usually, the work here is quite a lot because the employees have multiple roles at the same time Someone is consulting customers and then back to designing images and writing content, Previously, Queen Food focused on advertising products in the offline form mainly, the popular media used by Queen Food included publications, magazines, and Catalogs In addition, Queen Food has also invested in making promotional videos, but the content has not yet met the expectations of product orientation, so it is not widely spread Social media channels have also been created, but have not been properly cared for, so the articles are less attractive, the content is boring Thank you 39 Interview transcript: Ms Winnie, Mr Phuong and Ms Diep Table 12 APPENDIX E: Transcript of open-end question CV2: Why you give [POTENTIAL CAUSE WITH THE HIGHEST SCORE] the highest score? Ineffective Media Channel has the highest score because I see the serious impact it has on our advertising activities Before making the assessments, I also compared the potential causes with each other and I found that, Communication channel inefficiencies are an independent cause because once we Ms Winnie improve two potential factors otherwise it still has a serious impact That is when we have impressive appeals and recruit talented staff, it will be meaningless if the communication channel is not effective Because then, we cannot reach customers and deliver our message to them From a salesperson's perspective, I regularly receive customer feedback not only on the product but also on accompanying information such as sales support designs Customers often think that product appeals are not attractive to them, so I really want to change this Therefore, I give "Unimpressive Mr Phuong advertising appeal" the highest score However, I am also consider about "Ineffective Media Channel" Because Media channels support our sales team a lot when reaching out to customers If using and exploiting effective communication channels, I believe that the company's sales will increase significantly When I looked at the reviews, I gave "Ineffective Media Channel" the highest score because I felt that it needed to be improved About the staff, I think it will not affect too much because they are young and very active in learning to develop Ms Diep All they need is their time and adaptation In the future, they will better and give higher results At that time, the appeals put on the market will also be more impressive and attractive to customers 40 APPENDIX F: Table 13 Joint interview about the Solution Question Answer Thank you so much for joining with me today for the Please go ahead final interview Ms Winnie: I don't feel very secure because our personnel are not qualified and professional enough to be able to complete Alternative Solution #3 this task quickly and efficiently Our facebook channel has This is the solution that has been around for a while, but there are still no really effective the lowest financial cost out and impressive activities, because they are still struggling with of the solutions I came up it I did not choose this solution not because I not trust my with The company will employees but because I want them to have enough time to hardly have to pay any extra complete their main work at the company costs because this solution is a way to utilize the Mr Phuong: I agree with Ms Winnie that if our staff manages company's human resources the channel, they won't have time for their other jobs to implement? What's your Especially for sales staff, it takes a lot of time to travel and opinion? meet customers every day, in addition to having to see contracts and agreements to work with customers smoothly also requires a long time How about Alternative Solution #1 Ms Winnie: I looked it over and it was the "most expensive" option, right? We are still willing to spend money on units if the results are good; otherwise, I really regret my choice I am still a bit skeptical about this third party's capabilities and how to manage their work without my staff doing the same Therefore, I feel this choice is not very satisfactory Okay Then let us move to Alternative Solution #2 Ms Winnie: I highly appreciate this solution and I believe it is the most practical and optimal solution for our company, based on your analysis Mr Phuong: I totally agree with Mr Son and your analysis Therefore, I believe we can go with this option So, I would like to confirm that we all agree that Alternative Solution #2 is the chosen one? Ms Winnie: I totally Agree! 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