marketing plan for cococafe – betrimex company

to achieve those goals, Betrimex continues to launch new products with coconut ingredients, and this time, coconut milk coffee.. Company overview Betrimex Introduction Ben Tre Import-E

THE FINANCIAL THE FINANCIAL MARKETING UNIVERSITY

MARKETING PLAN FOR COCOCAFE –

BETRIMEX COMPANY

MEMBERS Nguyễn Dương Huân – 1921005439 Phan Thùy Ngọc Thảo – 1921005667

Lê Nguyễn Minh Tân – 1921005652 Class: CLC_19DMA04

Majors: MARKETING Specialization: MARKETING MANAGEMENT

Instructors: ThS Dang Huynh Phuong

Ho Chi Minh, 2021

Instructors: ThS Dang Huynh Phuong

MEMBERS Nguyễn Dương Huân – 1921005439 Phan Thùy Ngọc Thảo – 1921005667

Lê Nguyễn Minh Tân – 1921005652 Class: CLC_19DMA04

Ho Chi Minh, 2021

PLEDGE

The authors commit that the topic "MARKETING PLAN FOR COCOCAFE- BETRIMEX COMPANY" is conducted based on the efforts and efforts of each member The data and research results contained in this report are true and are not intended to

be reproduced or used by any similar research subject If detecting duplicating research results of other topics, the authors will be entirely responsible

All information cited in the report has been clearly traced and permitted to be published

HCM, 2021

ACKNOWLEDGMENT

After studying and doing research to complete this thesis, we would like to express our gratitude to Mr Dang Huynh Phuong He dedicatedly instructs, guided and helped us throughout the teaching process so that we have the knowledge and complete this research The knowledge that we have learned from you is the expensive lessons and the foundation for us in the future Moreover, the research helps us to get real experience when standing from the perspective of being a business to apply the knowledge learned in school into practice Once again, we would like to thank you very much Due to the limited knowledge and time, the research still has many shortcomings We look forward to your comments to improve the research further

TABLE OF CONTENTS

Chapter 1 Market Overview 1

1.1 Executive summary 1

1.2 Company overview Betrimex 1

Introduction 1

History establishment 1

Business activities 2

Vision - Mission - Core Values & Strategic objectives 2

1.3 MACRO MARKET ANALYSIS 2

The political and legal environment .2

Economic environment 3

Socio-cultural environment 3

Technology environment 3

Natural environment 3

Population environment 3

1.4 PORTER'S FIVE FORCES 4

Buyer power 4

Supplier power 4

Competition 4

Table 1-1 Identify the main competitors 4

New Entrants 4

Threat of substitutes 5

1.5 SWOT OF NEW PRODUCTS 5

1.6 S-T-P 5

Segmentation 5

Targeting 6

Positioning 6

1.7 Market Research 7

Overview of the coffee market in Vietnam 7

Market demand and trends 7

Chapter 2 PRODUCT STRATEGY 8

2.1 Objective 8

Marketing Objectives 8

Financial Objective 8

2.2 Product 8

Product Levels 8

Product Classifications 8

Product Differentiation 8

2.3 Price 9

Pricing target 9

Valuation method 9

Estimate cost 9

Expected cost 10

Select final price 10

2.4 PLACE 11

The main purpose and channel structure 11

Distribution channel strategy 11

2.5 Promotion 12

Advertising 12

Promotion 13

PR 13

2.6 Timeline 14

Chapter 3 CONCLUTION 15

LIST OF TABLE

Table 1-1 Identify the main competitors 4

Table 1-2 SWOT analysis of new products (O and T) 5

Table 3-1 Estimate cost 8

Table 3-2 Expected cost 9

Table 3-3 The stages of distribution trategies 10

Table 3-4 Public relations strategy 10

LIST OF IMAGE Image 1 Company logo 1

Image 2 Design and product features 7

LIST OF IMAGE ADDENDUM

Image 1 Cocoxim Coconut Water a Image 2 Coconut milk Cocoxim b Image 3 NESCAFE b Image 4 BOSS Coffee b Image 5 Highlands Coffee b

to achieve those goals, Betrimex continues to launch new products with coconut ingredients, and this time, coconut milk coffee With a plan for 1 year since its launch, Betrimex aims to reach many sets of customers, expand the market with many marketing plans throughout 1 year From Teasing to engaging and amplify

1.2 Company overview Betrimex

Introduction

Ben Tre Import-Export Joint Stock Company, formerly known as Ben Tre Import - Export Company, was established in 1976 and officially equitized in 2006 with the trading name Betrimex - brand in the field of processing and exporting coconut products

- Main website: https://www.betrimex.com.vn/vi

- Head office: Lot K, Phong Nam Industrial Cluster - Cottage Industry, Phong Nam Commune, Giong Trom District, Ben Tre Province, Vietnam

- Company name: Ben Tre Import and Export Joint Stock Corporation (Betrimex)

Business activities

- Producing, processing and trading in coconut products, processed agricultural products for export (bottled coconut water, bottled fresh milk, Isotonic drink )

- Export of agricultural products (coconut fruit, coco peat, virgin coconut oil)

- Producing charcoal from desiccated coconut (activated carbon, live charcoal)

Vision - Mission - Core Values & Strategic objectives

1.2.4.2 Core Values

Core value:

- Integrity: Fairly, and clearly in accordance with the nature of truth

- Responsibility: Working with sincerity, pursuit to the end result

- Efficiency: Committed to delivering results with optimization, accuracy

- Team: Coordinate, and seek consensus to achieve common goals

- Innovation: Encourage challenges, promote innovation

1.2.4.3 Strategic objectives

- Build on passion:

Becoming the top employer on our industry We invite everyone to use their talent, passion and help each other to make great teams This is how we build an working culture

- Grow our business and more:

"Business is a mission not a right", Betrimex's vision is to become the best internal force and standing company in coconut industry of Vietnam Concurrency, bring added value to farmers, partners, customers, employees, bring useful values to the social community

1.3 MACRO MARKET ANALYSIS

The political and legal environment

The political: The government has enacted a variety of measures to safeguard consumers from unfair trading practices They promulgated the Law on the Protection of

Consumer Interests, which has 50 articles, in accordance with National Assembly Resolution No 51/2001/ QH10

The legal: A stable political environment provides an opportunity to enhance the market's scope, volume, and export potential Vietnam's political system is relatively stable

It is not only a positive indicator for coffee output, but it also attracts coffee dealers as a reliable supplier of commodities

Economic environment

The drop in global coffee demand stemmed from the economic downturn coupled with a sharp drop in FMCG due to social distancing to contain the COVID-19 outbreak In February 2021, domestic coffee prices increased sharply in line with global coffee prices and limited supply

Socio-cultural environment

In today's Vietnamese coffee culture, there is a shift in how coffee is consumed in terms of both taste and visuals For example: Cans of coffee must be packaged in a handy and appealing manner

Technology environment

Science and technology advancements are also visible in the canned coffee industry: When roasting coffee, you can have more precise control over the flavor Using Tetra Pak Group's world-leading production line (Sweden) and direct UHT sterilization technology This is the latest technology, ensuring safety for consumers' health and can retain the most natural taste of coconut, meeting certifications such as FSSC 22000, BRC, FDA, HALAL, KOSHER,

Natural environment

The favorable climatic, geographical and soil conditions for the development of coffee have made coffee a unique flavor: The South has a hot and humid tropical climate, suitable for Robusta coffee

At Betrimex, the coconut material area is developed right in Ben Tre & only 11-12 months old coconuts reach the harvest quality

Population environment

Currently, Vietnam is a country with a large population, over 90 million people, a thriving economy, and increased income Therefore, the number of new households will constantly increase, leading to a rapid increase in the demand for coffee

1.4 PORTER'S FIVE FORCES

Buyer power

Customers will buy this type of product in small quantities and are not price sensitive However, the growth rate of consumer demand for canned instant coffee is increasing Therefore, the customer strength of COCOCAFE is quite high

Supplier power

The power provided in this case is very weak Because COCOCAFE can easily switch from one supplier to another Currently, Betrimex is operating in the field of coconut production and trading Therefore, this is considered an advantage of COCOCAFE because

it is not dependent on external sources In addition, the cost of switching COCOCAFE suppliers is not too high

Competition

Highlands and COCOCAFE have nearly the same audience and they have similar products and strategies However, the degree of difference between the two brands is high Highlands is already famous in the coffee market, so it becomes a direct competitor of COCOCAFE

Positioning: Highlands Coffee

is still the most familiar name

with the nearly 20-year history

of accompanying Vietnamese

coffee culture, so the

appearance of convenient

canned coffee has become

popular, keeping the taste of

Vietnam

Positioning: As one of Japan's No 1 best-selling canned coffee brands, with more than 26 years of experience, BOSS Coffee distilled ingredients from 100% pure coffee beans, giving you a sober spirit

Positioning: NESCAFÉ

instant coffee is one of Nestlé's most popular products in Vietnam NESCAFÉ is one of the top 5 instant coffee brands with the highest level of awareness, leading with 35%

Price: 12.000VND /235ml

can

Price: 10.500VND /180ml can

consumers for a long time, cheap prices and familiar flavors Therefore, potential barriers

to entry are quite high

Table 1-2 SWOT analysis of new products (O and T)

1.6 S-T-P

Segmentation

Demographic

Geographic

S

• Strong reputation, well-built brand

• Modern technology

• There is a chain of prestigious coconut

products, production experience

W

• According to the changing consumer trend and market share

ever-• No experience in the scale

of production of instant coffecans

O

• Global instant coffee market is forecast

to grow 4.7% / year until 2023 This is a

great opportunity for COCOCAFE in the

future

• Vietnam has a long history of growing

and processing coffee

T

• Variety of substitute products

• Initially entering the market, market competition took place very fierce for big brands

Country Viet Nam

Psychographic

Lifestyle Active, try out

new thing, influenced by celebrities

Active, try out new thing, influenced by celebrities

Busy, work with goals and ambitions

Spend time with family, focus on work or enjoy the life

deadline and relaxing

Complete deadline and relaxing

Discussing about their jobs, doing assigned work and relaxing

Discussing about their jobs, enjoying coffee and relaxing

Personality Follow trends Easy to adapt,

Near office, mall, home

Near office, home

Benefit

Expectation

Convenience, catchy looking

Convenience, catchy looking, good service

Quality, convenience, good service

Quality, healthy, good serviced

Targeting

Target market of COCOCAFFE: Segment B and segment C because

- Accounting for over 60% of Vietnam’s population, like to try new things

- Need caffeine for consciously working, heavy usage rate

Market targeting strategy: Differentiated marketing

• Better meet the diverse needs of each target customer group

• Potential to generate more revenue

• Increase brand awareness, higher market share

Positioning

- The first canned coconut coffee in Vietnam

- Direct UHT sterilization technology helps to keep the pure taste of coconut

- A coffee that is both nutritious and increases alertness

1.7 Market Research

Overview of the coffee market in Vietnam

The market for canned and bottled coffee has exploded in Vietnam in recent years with the presence of names like Birdy of Ajinomoto, My Coffee of PepsiCo, to bigger names like Nescafe of Nestle or the presence of world "giants" such as Starbucks, Georgia Coffee Max of Cocacola All of the top names have enjoyed strong growth, showing the appeal and stature of the beverage industry, even as they face stiff competition

Market demand and trends

In recent years, the demand for coffee has been constantly increasing, and world coffee consumption has grown by about 17% Moreover, with the busy pace of life and more and more work, consumers want convenient, fast and effective coffee products, experience different kinds of coffee drinks with different flavors and blends In addition, the demand for the global high-quality instant coffee segment is also on an upward trend due to the significant increase in the need to work from home since the outbreak of COVID-

19

Chapter 2 PRODUCT STRATEGY 2.1 Objective

Marketing Objectives

- Capture at least 2.5% market share of canned instant coffee in Vietnam

- Raised Betrimex brand awareness by 20%, COCOCAFE products by 5-6% within 1 year of launch

- Quality: Robusta coffee from Tay Nguyen, coconut from Ben Tre

- Characteristics: Rich taste of Arabica coffee with the fatness of coconut milk

• Expected Product: Coconut coffee - A blend of two traditional flavors

• Augmented Product: Combination of the generic product and the expected product

to produce a drink that is both nutritious and balanced with the amount of caffeine in the drink

• Potential Product: There is a QR Code for detailed product information

Product Classifications

• Durability and Tangibility: Non-durable goods

• Consumer Goods Classification: Convenience goods

Product Differentiation

Image 2 Design and product features

2.3 Price

Pricing target

When we choose to trade in canned coconut coffee, our team proposes a price based

on the marketing goal of building a top image in terms of quality, maximizing profits and achieving market size as large as they want

Valuation method

Regarding the pricing method, we decided to use penetration pricing strategy to gain market share because canned coconut coffee is a consumer product with relatively low prices right from the start Low pricing to prevent competitors from entering the market; setting selling prices on par with competitors to stabilize the market; low prices to attract customers when offering new products; preferential pricing to seek the support and cooperation of intermediaries