Marketing plan of strongbow peach ciders

THE FINANCIAL UNIVERSITY OF FINANCE – MARKETING MARKETING MANAGER TOPIC MARKETING PLAN FOR STRONGBOW PEACH CIDERS IN VIET NAM Members: 1.Tăng Thị Kiều Linh 2021008469 - Leader 2.Tạ Thị Phương Thanh 2021008545 3.Đào Trang Diễm Hương 2021008450 Majors: MARKETING Specialization: MARKETING MANAGEMENT Instructors: ThS Dang Huynh Phuong TP Hồ Chí Minh, 2021 THE FINANCIAL UNIVERSITY OF FINANCE – MARKETING MARKETING MANAGER TOPIC MARKETING PLAN FOR STRONGBOW PEACH CIDERS IN VIET NAM Majors: MARKETING Specialization: MARKETING MANAGEMENT Instructors: ThS Dang Huynh Phuong Members: 1.Tăng Thị Kiều Linh 2021008469 - Leader 2.Tạ Thị Phương Thanh 2021008545 3.Đào Trang Diễm Hương 2021008450 TP Hồ Chí Minh, 201 INSTRUCTOR'S COMMENT PROJECT SCORING RESULTS Score Signature PLEDGE I'd like to commit to the full extent that the marketing Plan results are the results of our own team - the results and the data in the subject are honest and entirely objective I take full responsibility for my pledge Ho Chi Minh, 2021 THANK YOU! First of all, I'd like to thank you very much to the Marketing Graduate school of Finance for bringing Marketing management into its curriculum Particularly, I offer my deepest thanks to the teacher, Deng Phuong, for teaching and imparting valuable knowledge to me during my recent studies During his time in the class, he added to himself good knowledge, effective, and serious learning These are certainly precious knowledge, and provisions to keep you safe Management of Marketing is an interesting, highly instructive and practical subject Ensure adequate knowledge supply, linked to practical needs of students However, knowledge is very limited and practical access is rather confusing Even if you your best, it may be difficult for the marketing plan to avoid the inadequacies and gaps, but if teachers look into it and help improve my marketing plan Thank you very much indeed! MEETING MINUTES TO EVALUATE THE WORK Date: December 15th, 2021 Form: Direct Members present: Full presence Member face/ reason: No members are absent The results are agreed upon and summarized as follows: N o Full name Student code Đào Trang Diễm Hương 2021008450 100% Tăng Thị Kiều Linh 2021008469 100% Tạ Thị Phương Thanh 2021008545 100% Present participation TABLE OF CONTENT CHAPTER 1: SUMMARY CHAPTER 2: SITUATION ANALYSIS .2 2.1 Overview of Vietnam beer market 2.2 Macro-environment analysis 2.2.1 Economic environment .2 2.2.2 Socio-cultural environment .3 2.2.3 Political and legal environment 2.2.4 Demographic environment 2.2.5 Natural environment 2.2.6 Scientific and technical environment 2.3 Micro-environmental analysis 2.3.1 Supplie 2.3.2 Customers 2.3.3 Competitors .4 2.3.4 Mediators 2.3.5 Substitute Products 2.4 SWOT analysis CHAPTER 3: S-T-P STRATEGY .6 3.1 Market Segmentation .6 3.2 Target Market 3.3 Locating CHAPTER GOALS AND STRATEGY 4Ps STRONGBOW PEACH CIDER PRODUCTS .8 4.1 Target .8 4.1.1 SMART-model goals .8 4.1.2 Business objectives 4.1.3 Media objectives 4.2 PRODUCTS 4.2.1 Nature .9 4.2.2 Logo 10 4.2.3 Packaging .10 4.2.4 Quality 11 4.2.5 Product Support Services .11 4.3 Price Strategy 11 4.3.1 Pricing Target 11 4.3.2 Pricing Method 11 4.3.3 Estimate Cost 12 4.3.4 Choose the final price .12 4.4 DISTRIBUTION 13 4.4.1 Distribution Channel 13 4.5 Promotion Strategy 13 4.5.1 Adverising .13 4.5.2 Promotion 14 4.5.3 PR 15 CHAPTER 5: TABLE OF EXPENDITIES AND TIMELINES .16 5.1 Project Budget 16 5.2 Timeline 16 CHAPTER 6: CONTROL AND CONCLUSIONS 18 6.1 Contingency plan 18 6.2 Conclusion 18 The source: a APPENDIX CHAPTER 3: S-T-P STRATEGY 3.1 Market Segmentation Table 3.1: Segmentation Segmentatio n Age A B 18 - 24 C 25 - 29 Gender D 30 – 34 35 – 40 Male and female Income Low/No Low/Medium Low/Medium/High Low/Medium/High Lifestyle Easy to change habits, like to try and discover new things, like to gather with friends and colleagues In working age Easy to change habits, like to try and discover new things, like to gather with friends and colleagues I want to assert myself Character I like a I like a new I like to assert I like to assert new experience myself myself experience Time Free time, day off Free time, Evening holidays day off Evening Proportion use Many Many Just Benefit search Enjoy with friends and family, cool taste Enjoy with Enjoy with friends friends and and family, cool family, cool taste, bring taste formality Enjoy with friends and family, cool taste, bring formality Loyalty level Tall Tall Tall Just Town Just Tall Tall Tall Short Average Average Average Rural Population In working age I want to assert myself Knowledge as well as many social relationships I like to hang out with friends and colleagues Many In working age I Psycholog want to assert y myself Knowledge as well as many social relationships I like to hang out with friends and colleagues Behavior day off Geography (by urban rural) 3.2 Target Market Target market: All segments of major cities Why: These groups of subjects have a great need for consumption, experience, relaxation, and enjoyment with friends and relatives They are usually college students who have incomes because they tend to entertain and prioritize drinking as a social The product also does not discriminate against any specific gender as it is usable for both men and women 3.3 Locating Strongbow is the world's No cider brand The original dried cider has been one of UK’s favorites for 50 years and has now been combined with a range of flavors to suit every taste Strongbow Apple Cider (fermented apple juice) started to enter the Vietnamese market in 2016 Commercial operations a great job, bringing impressive sales Strongbow is the perfect drink in the evening to liven up your time with friends and turn them into memorable moments CHAPTER GOALS AND STRATEGY 4Ps STRONGBOW PEACH CIDER PRODUCTS 4.1 Target 4.1.1 SMART-model goals S (Specific) - specific, clear The new product is widely received in the target market and sells 300,000 bottles per month and 280,000 bottles per month in pubs, beer clubs, restaurants, train and airport cafeterias, supermarket chains, convenience stores and groceries in the first year M (Measurable) - measurable enough internal force Use effective strategies to reach VND 5,400,000,000/month (bottled products) and VND 5,600,000,000/month (canned products) A (Achievable) - achievable enough According to the report "The demand for alcohol of the Vietnamese people" (conducted by RUNSYSTEM GMO-Z.com Joint Stock Company and INFOQ unit), Vietnam is considered the fastest growing beer market in the world A report by Euromonitor International shows that the development of the middle class and young people have caused beer consumption in Vietnam to nearly triple between 2004 and 2018 In 2019, Vietnam was the third largest beer consumer in Asia in terms of output, although the total population ranked only 15th in the world with 96.2 million people The average consumption of beer in Vietnam increased by 30% in the period of 20132018, reaching 43 liters per household According to the 2020 residential living standards survey published by the General Statistics Office, alcohol consumption increased in 2020, from 0.9 liters per person per month in 2018 to 1.3 liters per person per month in 2020 It can be seen that although during the pandemic, the alcohol market is still growing slowly With its soothing, crisp and elegant fruit flavors, the Strongbow product line is a must for everyone, regardless of their preferences Thanks to the constantly increasing demand of the market, Strongbow's products are not available at distribution points R (Realistic) – practical The competitive market for alcohol in Vietnam is quite fierce, so when businesses launch new products with cider flavor combined with the mild sweet aroma of peaches in Vietnam, the product can face some major challenges However, with the reputation of the world's No cider brand and the help of its parent company Heineken, the product will quickly attract attention as well as reception from target customers T (Timed) - has a time limit To achieve its revenue target, Heineken will implement its one-year strategy 4.1.2 Business objectives - Annual revenue of more than VND12 billion, revenue after each year increased by 6% After years, revenue reached 14 billion VND / year - Sales in bars, pubs and restaurants in prestigious hotel chains are at least 10% of the regular drink sales - Increase the brand's revenue - Achieve significant and consistent growth in sales 4.1.3 Media objectives - - Increase Strongbow's brand awareness for young millennials, encouraging them to interact with the brand more in the media to strengthen brand consideration and increase conversion rates Reach at least 50% of the segment by the end of December - Build social media to build and maintain an online presence The number of visits and likes will be used to measure the effectiveness of the target - Increased customer retention and customer satisfaction can be measured by taking timely responses and surveys from them - Increase the likelihood of a company/product brand recall It will be measured by conducting surveys We aim for a brand recall survey response rate of at least 60% 4.2 PRODUCTS 4.2.1 Nature Ingredients: Water, Apple juice (from concentrate), sugar, juice (of which Peach accounts for 1%), acids: malic acid, antioxidants: potassium metabi sunfit, natural flavorings Gluten-free energy per 100 ml: kJ/100ml - 231 | kcal / 100ml – 55 Value per 100 ml: Carbohydrates (7.3 g), sugar (7.2 g) One bottle of Sin the bottle is about 100 calories This calorie content is not too high to make the user fat, gain weight However, the fact that the alcohol in this drink will also make the body crave more food, eat more When alcohol enters the body also stops the process of burning calories, creating favorable conditions for fat to accumulate and causing us to gain weight Therefore, you should only drink 1-2 bottles per day, while minimizing the amount of food loaded into the body With the main ingredient from apples, provide large amounts of vitamin C and antioxidants to the body The amount of sugar in this drink is rated as low compared to other fermented juices In addition, Oregon state university experiments have studied the daily use of glass of fermented apple juice for women and for men can lose weight, protect the heart and reduce the risk of diabetes and asthma, against certain types of cancer and degenerative diseases of the heart muscle If taken in the right dose, strongbow is not harmful to your health On the contrary, it provides a relative numbers of compounds that are extremely beneficial to the body 4.2.2 Logo Image 4.1: Strongbow Apple Ciders Logo Strongbow Peach Ciders has an eclip-shaped layout with the central inscription Strongbow and the smaller bottom text is the taste of the product Above is also an image of the apple representing Strongbow's fermented cider product When the logo is printed on the product, the components of the logo will be shown transparent or white on a black eclip background 4.2.3 Packaging Glass bottle The 330ml transparent glass bottle is printed with a circular logo with an apple in the center and the product name "STRONGBOW PEACH CIDERS" is embelliated on the front and back of the bottle The bottle neck under the lid is labeled with peach prints and flavor names From the bottle neck to the body of the bottle is designed to bend slightly to help the user more comfortable and forehand The middle of the bottle body has a logo sticker combined with a light pink font representing the peach flavor on the front and product information on the back And the bottom of the bottle is designed to be slightly concave to help the bottle stand more firmly The date of manufacture and shelf life are also printed at the bottom of the bottle Stripe Strongbow Peach Ciders cans with a capacity of 330ml printed with the product name logo "STRONGBOW PEACH CIDERS" are printed on the front of the can Under the logo is the inscription of the taste name Cans take the dominant color of the pink of the background and the black of the components The back of the can is printed with information about the product The bottom of the can is designed to be slightly 10 concave to help the can stand more stable The date of manufacture and shelf life are also printed under the can With these two types of packaging, customers will have the choice to suit their interests as well as their purpose 4.2.4 Quality The apples we use to produce your Strongbow are specially grown to create crunchy and refreshing cider But Strongbow's mastery of extracting natural flavors from these apples has made your favorite Strongbow cider special After harvesting at maturity, the apples arrive at the plant, where they are washed and crushed This pulp is pressed for pure juice extraction, which is then condensed and stored, with the natural sugar of the apple acting as a preservative The condensed apple juice is then fermented and left to maturity, allowing for smoother taste development The result is what you love about Strongbow A pleasant, refreshing texture with a balance between acidity and sourness, followed by sweetness and a very long finish With a wide range of innovative recipes and delicious taste experiences, Strongbow delivers the refresher of nature wherever you live! 4.2.5 Product Support Services Support and respond to customer requirements quickly when they have questions, nutrition advice or complaints about product quality Customers after experiencing the product can submit reviews, or questions, to Strongbow's main customer care website 4.3 Price Strategy 4.3.1 Pricing Target The Vietnamese beer market is very well-consumed, with beer ranking 3rd in the Asian region in terms of output (2019) The Vietnam Brewery Company Heineken aims to produce a new Strongbow product with a sales price to ensure offset the cost of production, personnel, marketing, sales, and profit Product pricing is intended to give consumers a reasonable price, maximise profits, and expand market share The Heinken company uses biomass to cook beer to protect the environment and to save business costs The company has six factories in three northern, central and Southern Vietnam in Vietnam that help reduce the cost of distribution and the cost of transporting and using goods 4.3.2 Pricing Method The valuation method for this new product is infiltration pricing This method helps Strongbow keep a product price slightly below that of rival brands to encourage consumers to test the product Reasonable and low price policies can create competitive 11 advantages in the market and offer pricing in order to seek the cooperation of intermediaries, and increase revenue and market share 4.3.3 Estimate Cost The rate of the new products Name of the fee Bottled products (330ml) Direct cost 4.400 (24.4%) 4.550 (22.75%) Indirect cost 2.200 (12.2%) 2.800 (14%) Logistics 1.400 (7.8%) 1.650 (8.25%) Marketing activites 1.400 (7.8%) 3.500 (17.5%) Operate at point of sale 1.600 (8.9%) 1.600 (8%) Others costs 1.100 (6.1%) 1.100 (5.5%) Total 12.100 (67.2%) 15.200 (76%) Profits 3.800 (32.8%) 4.800 (24%) Can products (330ml) The Heinken company will remain stable for the new Strongbow product, with slight but insignificant difference The price of a product may change with the introduction of rebate policies, promotions on ceremonial occasions, major events, and programs promoting the product of the company Direct costs include the costs of equipment, raw materials, labor and the production of materials Indirect costs include administrative costs, depreciation, personnel, insurance, and taxes Table 4.1 Number of products sold BOTTLE CAN Number of products sold in year 3.600.000 3.360.000 Number of products sold in month 300.000 280.000 Table 4.2 Estimate Cost 4.3.4 Choose the final price Table 4.3: The final price THE PRICE LIST OF STRONGBOW PEACH CIDER Packing capacity type and BOTTLE (330ML) CAN (330ML) Product Retail price bottle 18.000 VNĐ vortex/ bottle 70.000 VNĐ carton/ 24 bottle 432.000 VNĐ can 20.000 VNĐ 12 vortex/ can 80.000 VNĐ carton/ 24 can 480.000 VNĐ 4.4 DISTRIBUTION 4.4.1 Distribution Channel Strongbow's distribution system consists of two main channels: The first channel is: MT (Modern Trade): Modern trade such as supermarket chains, hypermarkets The second channel is: HORECA (Hotel - Restaurant - Catering / Café):includes nightclubs, bars, hotels, cafes, cinemas, karaoke 4.5 Promotion Strategy 4.5.1 Adverising 4.5.1.1 Purpose - Help customers know about the new flavor of Strongbow beer - Establish a positive relationship between the product and the consumer - Drive intention to purchase and experience new products - Maintain and increase revenue and profit 4.5.1.2 Select advertising channel • Online Advertising - Online newspapers, social channels (Facebook, TikTok, youtube, ), e-commerce advertising (vCPM) - Build and produce a video, combined with a music mv - Editing promotional videos with the participation of Duy Manh • Offline advertising - In addition to advertising new products using traditional online channels, STRONGBOW CIDER also advertise offline by taking samples at supermarkets and restaurants for consumers to experience the first product - Organize outdoor events to let consumers try and buy products - Placing billboards in bars and restaurants • Message conveyed: Slogan "Chill is not difficult, Strongbow takes care" 13 Today, people are always immersed in their work, pressured by everything around them They need to relieve themselves, stress Therefore, they look to their friends and family to have lively and fun parties And Strongbow Cider is a perfect choice when combined with party dishes, with a light alcohol content and a fermented mussel drink that helps them feel more relaxed and delicious, dispelling the usual stressful days Straight from the hustle and bustle of life 4.5.2 Promotion 4.5.2.1 Purpose To increase brand awareness of STRONGBOW CIDER and stimulate purchases 4.5.2.2 Promotion activities • Semester in 2022 (1/1/ 2022 – 1/4/2022) - Increase brand and product awareness through running ads on Facebook, youtube, - E-commerce promotions (20% off) on applications such as: Shoppe, Lazada, Tiki - Winning activities for Tet holiday: If you win, you will exchange can / bottle of Strongbow Cider • Semester in 2022 ( 1/4/2022-1/7/2022) -Increase brand awareness: continue advertising activities on Facebook, google search optimization (Search Engine Optimization); - E-commerce promotions (20% off) on Shopee, Lazada, Tiki - 3rd party cooperation: Bars, restaurants try products • Semester in 2022 ( 1/7/2022-1/10/2022) - E-commerce promotions (20% discount) such as: Tiki, Shopee, Lazada - 3rd party cooperation: cooperation with bars, restaurants, food service • Semester in2022 ( 1/10/2022-1/1/2023) - E-commerce promotions (20% discount) such as: Tiki, Shopee, Lazada - 3rd party cooperation: cooperation with bars, restaurants, food service - Buy box of products will get more products for free 4.5.3 PR -Purpose: Maintain a positive brand reputation and create strategic relationships with the public and potential customers through strategies to make products easily accepted by customers and receive sympathy and companionship from customers 14 Table 4.4: PR activity ACTIVITY Organize a press conference to launch new products Collaboration with famous KOLs STRATEGY Implement advertising and PR activities new product, product with new features and suitable for the public, offering new products to influential partners and guests with the company TVC with football player Duy Manh Tiktoker Linh Ngoc Dam with Followers is 5.7M The company will build a short scripting video to appear the product in the video, introduce and convey product features to the public in the most concise way Participating in many social impact programs -Sponsorship for football sports activities of the country -Support for children from poor circumstances who not have access to a phone to study online during the pandemic - Sponsor football activities 15 CHAPTER 5: TABLE OF EXPENDITIES AND TIMELINES 5.1 Project Budget BREAK-EVEN ANALYSIS BOTTLE (330ML) CAN (330ML) Monthly unit break-even 160.976 138.947 Monthly sale break-even 2.897.560.976 2.778.947.368 ASSUMPTION Average per unit revenue 18.000 20.000 Average per unit variable cost 18.264 21.159 Estimted monthly fixed cost 8.200 9.500 ASSUMPTION OF PROJECT BOTTLE (33OML) Month Cost 4.260.000.000 CAN (330ML) Year Month Year 51.120.000.000 4.260.000.000 51.120.000.00 Inco 5.400.000.000 me 64.800.000.000 5.600.000.000 Prof 1.140.000.000 it 13.680.000.000 1.340.000.000 Prof 912.000.000 it after tax (20%) 67.200.000.00 10.944.000.000 268.000.000 Table 5.1: Break-even analysis Unit: VND Table 5.2: Assumption of project 5.2 Timeline 16 16.080.000.000 3.216.000.000 17 Table 5.3 Timeline CHAPTER 6: CONTROL AND CONCLUSIONS 6.1 Contingency plan When the product is put on the market, the risks can occur such as the market not responding strongly, promotions occur errors, offline selling points are affected by the pandemic, the faces are scandalous, there are mistakes in the production process of the product, There is a mistake in the production process of the product Some remedies such as having contingency expenses are reserved for unexpected risks The business remains in close contact with customers, and the point of sale aims to adjust its operating strategy in a flexible and adaptable way to handle possible risks Especially in the context of the current unpredictable Covid pandemic, businesses and distribution points need to carefully consider and adapt to changes in state operating policies 6.2 Conclusion With the leading advantage in the international market and having its parent company Heineken behind it, Strongbow has been and will develop rapidly and sustainably in Vietnam in the near future Heineken's Strongbow Peach Ciders alcoholic drinks will provide the perfect drink for the evening to refresh your friends' time and turn them into memorable moments Thanks to the presence of new flavors, customers have more choices 18 The source: [1] https://cpanel.infoq.vn/common/reports/files/khao-sat-nhu-cau-tieu-thu-ruoubia.pdf [2] https://www.theheinekencompany.com/our-brands/flavoured-brands/ciders [3] https://www.slideshare.net/hadangkhoi/apple-pen-group-strongbow? [4] [5] [6] [7] next_slideshow=1 https://www.strongbow.com/global https://blablawriting.net/advertising-campaign-for-strongbow-essay https://phdessay.com/marketing-analysis-of-fosters-group-ltd/ https://www.brandsvietnam.com/campaign/626-Strongbow-Taste-The-Chill-Ciderndash-Cu-chill-thoi#objective ...THE FINANCIAL UNIVERSITY OF FINANCE – MARKETING MARKETING MANAGER TOPIC MARKETING PLAN FOR STRONGBOW PEACH CIDERS IN VIET NAM Majors: MARKETING Specialization: MARKETING MANAGEMENT Instructors:... date of manufacture and shelf life are also printed at the bottom of the bottle Stripe Strongbow Peach Ciders cans with a capacity of 330ml printed with the product name logo "STRONGBOW PEACH CIDERS" ... Logo Image 4.1: Strongbow Apple Ciders Logo Strongbow Peach Ciders has an eclip-shaped layout with the central inscription Strongbow and the smaller bottom text is the taste of the product Above