FINAL PROGRESS REPORT GROUP 11 INCREDIBLE SPOONS

NATIONAL ECONOMICS UNIVERSITY PROGRESS REPORT ON THE DEVELOPMENT OF “INCREDIBLE SPOONS” PROFESSOR INSTRUCTIONS NICHOLAS JOHN SHIPLEY TRAN VIET AN GROUP 11 – FINAL PRODUCTS MANAGEMENT 63B SEMESTER 3 uuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu

NATIONAL ECONOMICS UNIVERSITY

PRODUCTS MANAGEMENT 63B

SEMESTER 3 (2021-2022)

HA NOI, 19 JULY 2022TEAM MEMBERS OF GROUP 11

(PRODUCTS MANAGEMENT 63B – INCREDIBLE SPOONS)

EXECUTIVE SUMMARY

The report's goal is to modify edible utensils and make an

of the world’s most serious threats Plastic pollution is not only harming our land but alsoendangering the lives of marine animals In Vietnam, the explosion of reusable straws,bamboo straws has contributed to reducing plastic waste, but customers want a moreinteresting solution

The first Edible Spoon product came from India, after 'Shark Tank' Season 13 Episode 3airs on ABC on October 22, 2021, is on track to earn $300,000 in revenue in 2021 Thisexciting product has already passed Initially successful in foreign countries, in Vietnammarket Edible spoons are still a completely new idea

The report is used to develop a new product line for ECOSTRAWS Vietnam Joint Stock

Company Edible spoons will be a unicorn development product with the following

criteria: edible spoons as a fun, convenient and affordable alternative to save theenvironment The report includes the market research needed to launch the Edible Spoonproduct and a consistent 6-month marketing, promotional and operational plan including

a budget plan to achieve the goals

Table of Contents

General Product Information 5

Mission and Goals of the Firm 6

Analysis of External Environmental Factors 6

Product Category Demand Analysis 6

Opportunities and Threats 8

Analysis of Internal Environmental Factors 9

Forecasting Market Potential 9

Target Market Segments 9

Product Life Cycle and Sales Trend Analysis 10

Competitor Price Analysis 14

Placement Strategies, Action Plans and Assessments14

Placement Task Needs 14

Placement Option Selection and Evaluation 14

Potential Competitor Actions/Reactions 15

Promotion Strategies, Action Plans and Assessments 15

Promotion Campaign Target and Theme 15

Objective-Task Method 15

Annual Schedule of Activities 16

Control and Review Mechanisms 19

I General Product Information

1 SIC Numbers

Industry

Division Industry Class

WHOLESALE TRADE F KITCHEN AND DININGWARE WHOLESALING 3733

2 Product Description

Standard Industrial Classification (SIC) numbers: 3421

Manufacturer/Provider - ECOSTRAWS Vietnam Joint Stock Company

ECOSTRAWS - a company specializing in manufacturing and exporting environmentallyfriendly products such as biodegradable straws, biodegradable drinking cups Thisgroup is especially prominent with many eco-friendly products Environmentally friendly

in the field of eating utensils such as straws, knives, forks, spoons

Wholesaler & Retailer

EcoStraws (website, online, offline…), E-commerce platforms (Shopee, Tiki, Lazada…),Supermarkets and Shopping malls (Aeon, Go, Winmart, Vin…)

Product – Edible Spoons

Insight of customers in this era is that they want a product that brings entertainment value to them The desire to protect the environment must be accompanied by novelty,

fun and convenience in order to attract customers among thousands of environmentally

friendly products such as products from paper, bamboo, etc Understanding these things,

we create a new way to protect the environment

USP: We give you an interesting, nutritious, convenient way to save the environment.

The brand new “Incredible Spoons” - an edible spoon with the main ingredients are

wheat, oat, corn, chickpea, and brown rice All our spoons are dairy-free and non-GMO.Pepper, oregano, and plain flavors are 100% all-natural It’s shelf life is 6 months whenkept at room temperature and low humidity, store in a cool and dry place The spoon islike a hard cookie, it can withstand the hot and cold temperatures and doesn't softeneasily Placing them in the fridge for a few minutes before serving will give them an extracrispy texture

II Mission and Goals of the firm

1 Mission

ECOSTRAWS is an enterprise that puts people's interests first, the business that puts themaximization of the community's interests first and puts the maximization of profits as abusiness condition for the purpose of increasing profits human benefit

With a sense of protection, associated with nature; The company always strives toimprove the material and spiritual life of Vietnamese people by providing edible cutleryproducts of natural origin, clean, safe and nutritious

5 core values:

o For true happiness

o For public health

o Harmonious interests

o Improve people's quality of life

o Environmentally friendly, out-of-the-box thinking

2 Goals

ECOSTRAWS aims to become the leading manufacturer and distributor in theVietnamese market of edible, environmentally friendly cutlery products, namely ediblespoons

ECOSTRAWS intends in the medium and long term to dominate the eco-friendly cutlerymarket in Vietnam and successfully build a widely known Cutlery brand, the first stepbeing in Vietnam and Southeast Asia.

Edible Spoon will be a new product line that is predicted to blow a strong wind into theeco-friendly Cutlery market With a large target market and a large number of targetcustomers, promising together with the company's thoughtful investment in productionand marketing, EcoStraws will become a great cutlery brand trusted by everyone andbecome a boom, trendy

III ANALYSIS OF EXTERNAL ENVIRONMENT FACTORS

1 Competitive Analysis

Our competitors include companies that produce and distribute eco-friendly andsustainable products for customers such as JOY FOOD, Easy Green Co., Ltd., etc.However, there is a difference in usage and the function of the product from ourcompany (Incredible Spoon) creates an advantage that is hard for any competitor to copy

Green and environmentally friendly products from competitors have gained a certainamount of popularity, but there is no product line that is both environmentally friendlyand friendly to the health of consumers when directly nutritional supplements in theirmeals Taking advantage of the company's reputation in the production of green productswill contribute to increasing customer awareness of the product

2 Economic Analysis

When the economy is developing and people's living standards are increasinglyimproved, the demand for good quality and safe products and services is also increasing,especially online service products continue to the daily life of the people A recent survey

by Nielsen Vietnam shows that 80% of Vietnamese consumers are willing to pay morefor products with a commitment to "green & clean", produced from environmentallyfriendly materials This shows that there has been a drastic change in the perception of

In order to compete in the market, the trend of "greening" in branding is becoming moreand more popular, many enterprises have made efforts to invest in production to produceproducts that ensure the "green" factor and "clean", building a green brand associatedwith sustainable development According to the research results of Nielsen VN, brandswith commitment to "green" and "clean" have a relatively high growth rate, about 4% peryear

3 Legal and Political Analysis

In recent years, the Government has continued to improve the business investmentenvironment, especially with the promulgation of the Enterprise Law 2014, whichreflects the spirit of the 2013 Constitution on citizens' right to do business, that is whatthe law does not prohibit, people and businesses are free to invest and do business Law

on Investment, Law on Enterprises, Law on Bankruptcy, Code of Civil Procedure, Law

on Execution of Civil Judgment, Law on Organization of Courts and guidingdocuments to improve the legal and environmental environment Business is continuouslyreviewed and improved to create the best business and investment environment forindividuals and businesses

The production, trading and consumption of environmentally friendly products arestrictly controlled by Vietnamese law, specifically the Law on Environmental Protection2014

4 Social Analysis

Vietnam has a hot and humid monsoon climate that is suitable for growing and harvestingwheat, oats, maize, chickpeas and brown rice - the main ingredients that make up ourproducts Areas where these agricultural products can be grown are spread across thecountry, but are most concentrated in two areas: the Mekong River Delta and the RedRiver Delta - the areas with the highest population density in the country

The Cultural Environment

Environmental issues in Vietnam are now more concerning than ever Problems caused

by climate change, extreme weather, waste overload, especially plastic waste are directlyaffecting people's lives Therefore, this changes the perception of Vietnamese people inparticular and the world in general about environmental issues They want to change theirhabits, take specific actions to contribute to the conservation of the environmentprotection

Vietnamese people have a lifestyle of using a lot of disposable utensils in eating anddrinking due to the convenience it brings However, with the change in perception aboutenvironmental issues, especially among young people, it will lead to an increased demandfor products to replace single-use plastic items but still retain the inherent convenience.Specifically, from daily activities and meals

5 Technological Analysis

Sharing the same spirit with many countries around the world, in Vietnam, greenconsumption has gradually become a new trend and consumers' awareness of greenproduct consumption has also been enhanced

Current technologies for the production of sustainable products are all integrated withPLA (starch-based) biodegradable technology, all derived from natural, renewable

organic materials birth and sustainability In addition, due to the guarantee of theproduction process according to the Law on Food Safety and Hygiene 2014, strictregulations are applied that require manufacturing enterprises to always improvetechnology to meet the strict demands government slot The current green products onthe market have all achieved the leading certifications: BPI, OK Compost Industrial,FDA, DIN Certco, Food Contact, and are eligible for export to the world's mostdemanding markets in terms of standards for international products Environmentallyfriendly products such as Europe, America, Japan…

6 Opportunities and Threats

o Opportunities

- Incredible Spoon will be the first edible product when finish using meal in Vietnam

- In the era of busyness and work, convenience and convenience are a huge plus point ofthe product in the eyes of potential customers So the launch of this product has a lot ofpotential for growth

- Hygiene is also a factor that customers consider when choosing products Because it is

a product for daily use, safety and sustainability with consumers' health are placed onhigh The incredible spoon is derived from nature, so it will completely meet this need Customers will mainly be students, students, office workers, …

- Production costs will be guaranteed to not fluctuate too much, thereby affecting productprices The product is aimed at the popular segment, so the price will be affordable,suitable for daily spending Many people consider price as the deciding factor whenchoosing any product

IV ANALYSIS OF INTERNAL FACTORS

1 Forecasting Market Potential

Currently, consumers are increasingly interested in smart and sustainable consumption, aswell as environmentally friendly products and services right from production toconsumption and use of products Consumption today not only requires intelligenceabout product quality, but also requires a deep understanding of the sociality andhumanity of each product

2 Target Market Segments

The target market of incredible spoon is the middle class, intellectuals (students,

students, office workers, ) who are concerned about the environmental issues that arebeing affected by plastic waste

- In a short time are teenager who like new things

- In the long run, our target customers are everyday consumers who want maximum

comfort and are willing to experience a more enjoyable way of protecting theenvironment

Teenager (18-21 years old) Office workers (24-19 years old)

• Working status: part-time

• Income: 1,000,000-4,000,000

VND

• Behavior: disloyal, always want

to try new things, always ready

• Working status: full time officeworker

• Income: 4,000,000 - 15,000,000 VND

• Behavior: loyal, prefer to use aproduct that suits them, use productsrecommended

- Incredible spoon net weight about 8g

- Products are sold at stores and supermarkets nationwide, focusing on conveniencestores such as Circle K, 7Eleven, etc

V Product Life Cycle and Sales Trend Analysis

Introduction stage

During this period, the company will still have to invest a large amount of money in marketing and brand development, as well as R&D, so Edible Spoon products will not have enough revenue to make up for the marketing investment and original distribution

Mature stage

At this time, it has occupied a firm position in the hearts of customers The price of ECOSTRAW is the lowest at the moment The price of the product is extremely stable and comparable to the price of the Growth stage At this time, the income from this edible

spoon will be at its peak However, compared to the previous period, the revenue growth rate has slowed down The product's competitors have increased in number over time To strengthen its competitive position, ECOSTRAWS needs to differentiate its brand and diversify its attributes or innovate its products.

VI Product.

1 Product Components

The idea of making edible spoons is not new, some technology has already been

developed and proven to be viable in other parts of the world, but Vietnam has yet to seeany advancement in this field The biggest and most successful attempt to date to create abusiness out of edible spoons is ECOSTRAWS Vietnam This Vietnam manufacturercould be said to be the pioneer in this industry; our method is simple and effective:mainly sorghum mixed with rice and wheat, which is later made into a dough, and then,shaped and baked

o According to the technologies and techniques available the best alternative to make edible, but resistant spoons, as of now is to use a mix of millets and cereals.

Our product’ components included a mix of millet, sorghum, oats, rice, and wheat,adding flavors, molded and baked, like regular biscuits These inputs are very easy

to find and obtain across Vietnam

o The ingredients to make our product are complex carbohydrates, and poses though qualities, especially the likes of sorghum; thus, making the product when