The difference between omachi and hao hao in using elements of the marketing mix (7ps) to achieve overall business objectives

The difference between Omachi and Hao Hao in using elements of the marketing mix 7Ps to achieve overall business objectives.... Among all the products, Omachi instant noodle launched in2

TABLE OF CONTENTS

I INTRODUCTION 1

II MAJOR FINDINGS 2

1 The difference between Omachi and Hao Hao in using elements of the marketing mix (7Ps) to achieve overall business objectives 2

1.1 Marketing mix of Omachi compared with Hao Hao 2

1.2 Using marketing mix strategy to achieve overall business objective 16

2 Developing an essential marketing plan 18

2.1 The overview of Omachi 18

2.2 SWOT analysis 18

2.3 Objective 20

2.4 STP 21

2.5 Tactics and Actions 23

2.6 Allocation of resources (Budget and people allocation) 23

2.7 Evaluating and Monitoring marketing plans 24

III CONCLUSION 25

IV APPENDIX 25

V LIST OF REFERENCES 26

I INTRODUCTION

Established in 1996, Masan Group is known as one of the distinguished privatecompany companies in Vietnam regarding market capitalization Its subsidiaries work inmanifold fields such as consumer staples (Masan Food), financial services (Techcombank)and mining (Masan Resources) Masan Food, also called Masan Consumer, istremendously prominent and has been operating since 2000 It was ranked 7th in the top

50 prestigious brands in Vietnam in 2016 and 2th in Consumer Goods (PV, 2016) Thecompany produces and distributes various food products and beverage encompassing fishsauce, soy sauce, chili sauce, instant noodles, instant cereal, instant coffee and bottledbeverage It also exports its products to foreign countries such as Canada, the USA,German, China, Laos, etc Among all the products, Omachi instant noodle (launched in2007) can be considered as the most well-received product of Masan Consumer

(Masan Consumer, 2018)The aim of this report is to have a better understanding of the company’s marketingstrategy compared with its competitor, Acecook (whose number one product is Hao Haoinstant noodle) The report aims to accomplish 2 tasks:

Task 1: Compare ways in which organization use elements of the marketing mix (7Ps) to achieve overall business objectives

Task 2: Develop and evaluate a basic marketing plan for the company

II MAJOR FINDINGS

1 The difference between Omachi and Hao Hao in using elements of the

marketing mix (7Ps) to achieve overall business objectives.

1.1 Marketing mix of Omachi compared with Hao Hao

According to Philip and Gary (2011), marketing mix is the set of tactical marketingtools that the firm blends to produce the response it wants in the target market In the past,organizations usually followed Marketing 4Ps which includes Product, Price, Place andPromotion Recently, there is Marketing 7Ps which is the modified version of the 4Ps It isadded 3 more elements: People, Process and Physical Environment In the case of Omachiinstant noodle, the Marketing 7Ps will be applied to analyze the marketing strategy morespecific

a) Product:

Omachi:

Masan Food is one of the most successful companies in terms of doing campaign

In respect to Omachi instant noodle, it is claimed that it is the latest instant noodle inVietnam made from the high-quality potato which contains none of the causes of heartdisease, cancer or diabetes The process in which Omachi is produced also contributes toits phenomenal success: “Japanese technology”, AVE-ITALIA's closed and highlyautomated production line, European HACCP food safety standard are harmoniouslyimplemented, assessed by the Quality Management System ISO 9001: 2000 Omachiinstant noodle has various flavor, encompassing Omachi Spaghetti, Omachi spicy and sourhotpot, Omachi stewed pork rob with fruits, Omachi stewed beef sauce Despite its lateentrance into the market compared to its equivalances, Omachi is still considered atriumph thanks to the company’s apprehension of consumers’ needs for food safety.Through Omachi, the company aspires to promote the merit of its products which is thelack of growth in internal heat, achieved by substituting regular ingredients for the noodle

with potato The key point of this message is the focus on user health, which is well suited

to brand positioning in Omachi's high-end segment

(Masan Consumer, 2018)The name “Omachi” is an element that helps the brand became popular Not onlydoes it sound catchy but it also meaningful Omachi in Japanese means “wait a little bit”.The prominent “Omachi” written in red, infuse in the customers, as the company states,

“an irresistible temptation” The circles as seen in the letters O, A, C and I in the logorepresent the company’s punctilious selection in ingredients The 5 stars symbolize theproduct’s outstanding quality and the company’s ambition to enhance Omachi’s sales to

an international level Masan Food also emphasized that the noodle, unlike itsconventional counterparts, is made from potato on the product’s package Not only that, amore convenient product being cup noodle is also available for consumers

(Centre Mall, 2018)

Hao Hao:

Launched in 2000, the name of the product “Hao Hao” means goodness and perfection.Acecook produces this instant noodle with the aim for a wide accessibility, especially for

but impressive image for the consumers Moreover, Hao Hao is manufactured inaccordance with Japanese standards and technology, under incessant supervision andsupport of experts, guaranteeing the high quality of their products Therefore, Hao Haomaintains the go-to choice for consumers regarding safety and quality ever since itsentrance into the market back in 2000.

(Acecookvietnam, 2018)

To sum up, comparing the two instant noodle products Omachi and Hao Hao, it can

be seen that two products are perceived differently by consumers While Omachimanifests a high-end and attractive image, Hao Hao, in contrast, is more appealing tomiddle and lower classes Hao Hao also has more flavors compared to Omachi, and its cupnoodle is also well received by consumers In addition, despite the message the lack ofgrowth in internal heat, some consumers agrued that they still felt the same as other instantnoodles, resulting in their neglect toward the product After the Omachi’s message, HaoHao also launches the Hao Hao Vegetable, claiming to be healthier

b) Price Omachi

From the perspective of consumers, most of them value noodles throughconvenience, but are also afraid to assume that instant noodles can cause heat in the body.This is also a key point for the consumer segment with a good level A challenge for brandpositioning in the high-middle segment is that customers are increasingly

concerned about healthy food In order to reach this segment, Omachi chose solutionproducing noodle from the potato to remove the consumer's fear of heat.

With the strong economic growth, the high middle segment is gradually occupying

an important position in the market But it is also unwise to go into the high-end segment(at a rate of VND 3,000 / product or more) as Vietnam still has many good alternatives forhigh end noodles Benefit from extensive sales network such as pho, noodle soup,porridge, sticky rice, rice cake, etc (Nguyen, 2017)

Price is equally important in marketing mix including wholesale price, retail price,discount Price must be commensurate with the value received by the customer and becompetitive In 2018, Omachi Potato Noodle has a retail price of 6,000 VND / package,170,000 VND / box (30 packages) is now available in almost all cities, townships andtowns in Vietnam

Instead of pricing as high as its other products, Masan's Omachi pricing is lower than HaoHao's: Omachi 3,500 per package compared to 3,600 to 4,000 per package.

(BachhoaXANH.com, n.d.)

Hao Hao

Get to know 80% of Vietnamese consumers living in rural areas with low income,and Hao Hao's main customers are students Therefore, Hao Hao has offered a reasonableprice: 3,600 VND / package Hao Hao has used the market penetration strategy The nextyear Hao Chau offers many products with the characteristic flavor at 2,500 VND/package.(BachhoaXANH.com, n.d.)

In addition, Acecook has used low cost strategies Previously, materials forproduction of Vina Acecook almost imported 100%, in recent years the company hasstudied over 95% replacement materials in the country

One of the highlights of Vina Acecook Instant Noodles is the use of modern, tech equipment, so it is possible to utilize all of the features of the material to produce alarge number of products at the same time, high quality products at low cost

high-Laboratories with modern facilities, applying quality management standards ISO9001: 2000; ISO 14004: HACCP that create many new products, ensure quality, safety,low cost and food hygiene.

(Acecookvietnam.vn, n.d.)

c) Place Omachi

The distribution channel of Omachi is from manufacturer to retailer and thenconsumer Masan is also focused on consuming Omachi noodles Due to the general trend

of Vietnamese consumers today, they are getting closer to modern distribution channelssuch as supermarkets As a result, Masan's strategy has been to distribute its productsthrough retail channels The product is delivered to consumers only through a retailer.Specifically, Omachi is sold at retail supermarkets such as Big C, VinMart, supermarketschain Coop Mart, Maximax system These supermarkets directly distribute products toend consumers, by giving consumers Choose your own product line and preferred Thisdistribution channel is aimed at the end consumer, consuming in small but regularquantities

In addition, the main distribution channels are supermarkets, markets and grocerystores Currently Omachi potato noodles are being distributed directly to more than 300distributors and over 190,000 retailers Thus, the distribution strategy of Omachi noodles

is to expand the market and the dealer, increase the number and quality of distributionchannels

(Masan Consumer, 2018)The extensive distribution network and dealerships, Masan has been very skillful incombining the distribution of Omachi products with Chinsu products, which have wonhearts and consumers' choice for a long time The strong distribution network of Chinsuproducts at over 64 provinces has contributed to the widespread distribution of Omachi

Hao Hao has chosen many different types of distribution channels to bring products

to consumers but mainly distributed by agents The business selects many agents (tier one)and the task of the agents is to distribute them to the wholesalers and then to the retailers.When customers are in need, retailers will report to wholesalers and the company willdeliver the product in a semi-disposable form

Similar to Omachi, the other distribution is from manufacturer to retailer and thenconsumer The company is also important to consume Hao Hao Due to the general trend

of Vietnamese consumers today, they are getting closer to modern distribution channelssuch as supermarkets Therefore, Hao Hao has implemented a strategy of distributing itsproducts through these retail channels The product is delivered to consumers only through

comes program and therefore the channel recognized to be occupied with, following forcomes for the consumer, deals, telephone, deals through the message, merchant, sendindex for shoppers, framework, etc.

Omachi:

Choices concerning publicizing:

Omachi chose such well-known actors as model Thuy Hanh, Bảo Anh or Bich Phuong singer This advertising has created a clear communication effect to customers About advertising noodles to cool face model Thuy Hanh, Omachi mentioned that the price of noodles market is constantly increasing That's why Omachi noodles with spicy shrimp paste is a smart choice for consumers

Recently, Omachi offers new products with real meat This advertise with singerBich Phuong has attracted a large number of customers to receive and love the product

In short, though, Omachi is on the market later than other noodle vendors, but thanks to the unique product launch Omachi is now among the top two favorite noodles in the Vietnamese market today

Approaching coordinate advertisement:

Advertising on informal communication locales: Facebook, Twitter.

Customer bolster through system channels, hotline, etc

http://vnlogic.blogspot.com/2017/03/chien-luoc-marketting-san-pham-mi.html

Hao Hao:

With the name of Vietnamese monetary unit Vina Joint Stock Company, VinaAcecook has embraced the procedure of "Eat Vietnamese monetary unit hit the auto".From Oct 15 to Dec 30, Vina Acecook propelled the largest advancement program of theyear, "Eat Vietnamese monetary unit hit the automobile." Not simply that, Vietnamesemonetary unit can have the prospect to say extraordinary compared to alternative esteemInnova G 2009 models, fifty Honda Wave autos, an outsized range of items goldSacombank and an excellent several packs of Vietnamese monetary unit noodles OnGregorian calendar month fifteen, 2010, "Hao" is an unprecedented advancement program

of Acecook to grind devoted purchasers World Health Organization trust and utilizeVietnamese monetary unit moment noodles amid the diversion This advancementincorporates three uncommon prizes, each price up to one billion, a hundred prizes for ahundred Honda Not only that, but also Hao Hao has collaborated with u23 Vietnam.This attracted a very large number of customers by the widespread popularity of people foru23 It is a good marketing strategy of Acecook in general and Hao Hao in particular

Otherwise, advertise on TV channels that have high viewership like HTV7, HTV9,etc Promote on radio, through publications out and about or on the net offered on rackssold in enormous, medium and little appropriation frameworks Presents for poor families,poor people, people with genuine maladies, especially kids Not exclusively that,Vietnamese financial unit Vietnamese fiscal unit conjointly sorted out sustenance gift forthe surge space.

e) People Omachi:

The company always wants to give its employees the most effective workingenvironment Their staffs need to constantly learn and develop themselves For example,

in 2018, Masan University has developed training and development training for staff inevery position, such as management or staff Especially, this training course is thecustomer service excellence course Moreover, Morning Coffee is a series of activities forMasaners to learn new skills and knowledge Morning Coffee is home to a variety oftopics On March 30, Park Hye Ryong has led everyone to a new and exciting topic

"Noodles in Korean Cuisine" The new topic has received a lot of positive feedback andcomments to improve the training programs In short, the company is constantly trainingand developing staff in the most perfect way They not only want to give employees agood working environment but they also have to work very hard Therefore, everyemployee in the company always strives to develop and learn new things.

https://masanjobs.com/hoat-dong-noi-bo/gap-go-chia-se/masan-consumer-holdings-hoat-dong-dao-tao-va-phat-trien-quy-1-nam-2018.35a5328f/vi

cac-masaners.35a52bef/vi

https://masanjobs.com/gioi-thieu/van-hoa-masan/masan-town-ngoi-nha-thu-2-cua-Hao https://masanjobs.com/gioi-thieu/van-hoa-masan/masan-town-ngoi-nha-thu-2-cua-Hao

At Acecook, learning is an essential part of every employee Employees in everyposition including management must constantly and continuously improve theirknowledge and ability Therefore, learning is a necessity to help employees better Andthat is the first condition when applying to enter the company First, the training is appliedright at the time of learning in each assignment Then, coaching and coaching is theresponsibility of the management The company offers training courses to developemployee skills into the annual program framework Training is not just a reward but aresponsibility In Acecook, employees are also more likely to share their knowledge,especially leaders, professionals, and other people They will share the skills andknowledge they have accumulated for the co-op Other teams at the group meetings, jointhe project team,

Cook Happiness With 3 Happy words:

+ Happy Employees: The company has always focused on building a solid humanresource by consistently creating opportunities for those who are willing to try and keeplearning In addition, creating a good working environment also helps the staff to devote alltheir time and effort

+ Happy customers: Acecook always try their best to bring satisfaction and joy toconsumers so that they feel secure The company has been using convenient products withdelicious quality and safety on the basis of Japanese technology but still keep the Vietnameseflavor so that consumers feel "happy".

+ Happy Society: Masan always commits to customers that compliance with thelaws and food safety standards is guaranteed above all Not only that, but also friendly withthe environment to improve the quality of life, bring joy to everyone, social development

Omachi:

In the annual report 2017, Omachi indicated their marketing strategy is to boostcoverage and the presence of the product nationwide through sales system Therefore, theyhave built a distribution system having symbolic power in Vietnam Specifically, theypush strategy “do less but greater”, to focus on a number of investment opportunities tohelp in improving the lives of many people and preserve resources for long-terminvestment strategy

Besides, for real experience, Omachi also communicates their brand on a lot ofmedia, mainly TV and Youtube With each product is marketed, Omachi poured a lot ofmoney into advertising Most recently, with the mashed potatoes, Omachi invited BaoAnh as the face, an influential singer given to youth at the present time

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