(TIỂU LUẬN) assignment 3 individual final marketing project

Product overview: In 2004, Uniben launched the 3 Mien instant noodle brand, distinguished by its distinctive taste reminiscent of traditional Vietnamese cuisine with reasonable prices fo

Assignment 3 Individual Final Marketing

Project

Lecturer: Nguyen Hoang Thuan

Student Name : Le Quang Lan

Student number: S3891787

Word count: 2114

I Instruction: 3

1 Company overview: 3

2 Product overview: 3

II SWOT Analysis: 3

1 Marketing Environment: 3

Competitor: 3

Marketing Intermediaries: 3

Economic: 4

1 SWOT Table: 4

2 SO Strategy: 5

III Target customer: 5

IV Differentiation: 6

1 Product differentiation: 6

2 Image differentiation: 6

V Positioning: 6

1 Positioning map: 6

2 value proposition 7

VI Current Marketing Mix performance 7

1 Product: 7

1.1 Product Classification: 7

1.2 Three Levels of Product: 8

1.3 Product Decisions: 8

1.4 Product line decisions: 8

1.5 Product life cycle: 8

1.6 Branding Strategy: 8

1.7 Evaluation: 8

2 Promotion: 9

2.1 Advertising: 9

2.2 Sales Promotion: 9

2.3 Public Relations: 9

2.4 Evaluation: 9

VII Marketing Plan Objective 10

VIII Marketing Recommendations 10

1 Product: 10

2 Promotion: 10

IX Conclusion: 10

X Reference: 11

XI Appendices: 14

I Instruction:

1 Company overview:

Mr Vu Tien Dung started Uniben Company in 1992, specializing in the

manufacture and marketing of instant noodles for both domestic and

international markets Uniben has supplied Vietnamese customers with delicious, economical, and convenient meals that fulfill high safety and health requirements since entering the Vietnamese instant noodle

(Appendix 2) In reality, Uniben is having a great opportunity to raise

revenue and market share since the increasingly high demand for food security during the unpredictable Covid-19 outbreak in Vietnam (Appendix3)

2 Product overview:

In 2004, Uniben launched the 3 Mien instant noodle brand, distinguished

by its distinctive taste reminiscent of traditional Vietnamese cuisine with reasonable prices for rural consumers Since 2016, the 3 Mien brand has captured a 26.5% market share in the Vietnamese instant noodle industry,becoming the most popular instant noodle brand in rural areas (Minh M 2016) According to Uniben (2018), the 3 Mien brand has become a

leading instant food with diversification and traditional taste in line with the preferences of Vietnamese consumers

II SWOT Analysis:

1 Marketing Environment:

Competitor:

3 Mien confronted with many strong domestic and foreign competitors (Appendix 2).

Marketing Intermediaries:

Reseller: Uniben cooperated with more than 500 supermarkets, 100,000 stores, and 1000 sellers (Uniben 2021)

Physical distribution 150 distributors, including Lotte and Family Mart, :

distribute 3 Mien noodles throughout Vietnam Besides, Uniben has

exported these instant noodles to other international markets (Uniben 2020)

Economic:

Due to the Covid-19 pandemic, consumers tend to hoard essential foods, including instant noodles, which has significantly increased Uniben's total sales (Euromonitor 2021)

Uniben Company was officially co-operated

with FPT Software to operate a Distribution

Management System (DMS) project including 5

applications as eMobiz Map, eMobiz

Merchandising, eMobiz Insight, and eMobiz

Sales to have advantages in the industrial

revolution 4.0 Mr Nguyen The Anh Deputy

General Director of Uniben stated that this vital

project of the company to expand market share

and increase accessibility to potential

customers in many countries (FPT 2016)

The 3 Mien noodles are selling thanks to the prohibitively lower prices than other low-priced instant noodle brands Hence,

increasing the price for 3 Mien noodles is considered a

challenge when the market value

increases

Uniben aims to produce healthy foods with

European standard production technology

Therefore, Uniben has invested more than

2,000 billion VND in building 2 more modern

factories designed according to European

standards with a self-contained production line,

fully automated, imported from the US,

Germany, and Japan with an environmentally

friendly wastewater treatment system As a

result, the 3 Mien brand is one of the instant

noodle brands that trusty Vietnamese

consumers choose to purchase continuously

from 2015 to now, with a market share of over

27.5% (Uniben 2015)

In addition, Uniben's marketing channels are not diversified, and marketing campaigns are not really effective in catching up with new trends and attracting the majority of the public

Uniben not only distributes its products

throughout Vietnam, especially in rural, but

also concentrates on exporting to many

markets including Russia, Eastern, Ethiopia,

China, Cambodia, and the EU, (Uniben n.d.), led

to the opportunity for 3 Mien to develop their

brands and expand their market share

worldwide

According to Research and Market (2021),

owing to the hectic pace of life, consumers

prefer quick meals at affordable costs that need

less cooking Additionally, due to the Covid-19

pandemic, demand for local consuming instant

noodles has increased by 67% in only 6 days

compared to the previous year (Dat Nguyen

2020) (Appendix 4) Therefore, 3 Mien noodles

stand a good chance of maintaining their

Since the Covid-19 pandemic, many exported food products in Vietnam have been interrupted (Huong T & Manh P 2021) Consequently, this situation is

unfavorable for 3 Miennoodles when the company is focusing

on export activities

Vietnamese instant noodle market dominance.

2 SO Strategy:

Uniben can effectively satisfy customers' online shopping demands by using technology strengths in the distribution system when collaborating with FPT Software and fulfilling the market supply of instant noodles

during the epidemic time Especially when Vietnam has applied for social distancing, the demand for stockpiling essentials and online shopping will increase in the coming time, leading to a huge chance for Uniben to gain more profit

III Target customer:

In the instant noodle sector, rural regions accounted for almost 80% of consumption (Nguyen G 2016) Recognizing this potential market and a vast demand for instant noodles, Uniben created the 3 Mien noodles with affordable prices to dominate in the rural market for consecutive years from 2015 (Uniben 2018)

Housewives belong to an important segment of Uniben's targeted marketing strategy that has the most influence on their family's

purchasing behavior Since family seems to be the main factor directly influencing the purchasing decisions of housewives, they place higher demands on nutrition, hygiene, and taste (Obeidat et al 2018, p.110).However, by applying modern technology with European standards, 3 Mien noodle packages offer the highest quality food safety and hygiene Additionally, spice packs are produced according to a strict process from raw materials to packaging (Duc T 2021) Hence,3 Mien noodles can

successfully fulfill all of the customer's requirements

IV Differentiation:

1. Product differentiation:

Since instant noodles are considered a convenience goods category,purchasers would make decisions based on prior experiences (the taste inthis case) with the product (G Feichtinger, A Luhmer and G Sorger).Uniben's noodle is distinguished by its own unique broth sauce, made up

of a high synthesis of numerous local zests and spices, giving it a distinct

flavor that only 3 Mien possesses (Ky T 2020) In addition, B vitamins areadded to 3 Mien noodles, becoming the pioneer instant noodle product inVietnam that provides nutrition to customers (Khanh D 2015).

way for brands like 3 Mien with affordable prices and vast nutrition that appeal directly to Vietnamese consumers

As instant noodles are typically purchased in large quantities, pricing is a major factor in selecting between brands With the current trend of

healthy living, consumers not only pay attention to the price but also focus on the nutritional value of each noodle package

Uniben's "3 Mien" brand has surpassed competitors such as “Omachi”,

“Gau Do”, and “Hao Hao” in the low- to middle-income market segment when constantly supplementing nutrients for consumers with nutrients in the form of vitamins whilst maintaining low prices

2. value proposition

As previously stated in the product differentiation, Uniben emphasizes placing product quality and customer health first while the Vietnamese market is saturated with unbranded and unknown origin instant noodles products; Uniben is the pioneer Vietnamese instant noodle brand to

delivers higher quality noodles (incorporates essential nutrients into its noodles) at the same price as noted in the product distinction above Thus, the 3 Mien brand would attract more attention and favor among health-conscious clients, particularly among the targeted housewives

VI Current Marketing Mix performance

1 Product:

I.1. Product Classification:

Mien instant noodles as tangible products are rapidly prepared by boiling

or adding hot water in a few minutes, categorized as convenience goods

I.2. Three Levels of Product:

Augmented Products:

The hotline number for customer service and customer consulting is

printed on the packaging (Appendix 6)

Core Customer Value:

Mien satisfies a quick meal easy-cook with high nutrition yet affordable price

I.3. Product Decisions:

Product Attribute:

Quality: nutritious and tasty noodle (Uniben 2015)

Features: Including dried noodle block, dried vegetable package, soup package, oil package and paprika package (Appendix 7)

I.4. Product line decisions:

Line Filling: 3 Mien expands its product line by adding various flavors at the same price (Appendix 8)

E.g.: According to Bach Hoa Xanh (2021), 3 Mien Gold Noodles line

products are sold at 3.500 VND

I.5. Product life cycle:

The 3 Mien noodles are in the growth stage of the product life cycle since considering to top instant food selection of Vietnamese customers;

nevertheless, growth has slowed significantly in recent years (Appendix 9)

I.6. Branding Strategy:

Brand name selection:

The word "3 Mien" is easy to pronounce and remember, helping customersrecognize products with traditional Vietnamese taste immediately

Disadvantages:

Uniben, like other instant noodle producers, all of their noodle instant products have been packed in a plastic bag that might contaminate the environment Since Uniben concentrates primarily on innovating new flavors, 3 Mien noodles packaging remains simple and unappealing

compared to other goods such as Hao Hao or Omachi

Internet: Including Facebook and YouTube (Appendix 11)

Billboard: Advertisement at Retail store boards (Appendix 12)

2.2 Sales Promotion:

3 Mien offers short-term incentives to encourage the purchase or sale of their product

Discount: Applying bundle discount (Appendix 13)

Coupons: Entering the code to get free shipping or a discount (Appendix 14)

2.3 Public Relations :

3 Mien organized many Public service activities:

Public service activities: In 2020, Uniben carried out volunteer

activities that has named “Tiệm tạp hóa Ngược - Xuôi” in the Mu Cang Chai region (Trang L 2021)

Sponsor: In2021, 3 Mien Noodles awarded more than 800 million to honor the Vietnamese Super Intelligence (Duong A 2021)

2.4 Evaluation:

Advantages:

3 Mien has developed a positive brand image, increased brand

recognition, and attracted potential consumers by effectively committing

to social responsibility through social and charity activities as mentioned above

Disadvantages:

When it comes to advertising, customers tend to feel monotonous and unappealing due to repetitive content in advertising videos Updating and keeping up with marketing trends on new media platforms is a

shortcoming that 3 Mien needs to improve Specifically, there is no

advertising on Instagram or Tik Tok, even though most Vietnamese,

particularly Vietnamese young generation use these applications

frequently

VII Marketing Plan Objective

By utilizing the advantage of technological strengths in production as mentioned in the strengths section in the SWOT and capturing market share in rural areas as mentioned in the opportunities section in SWOT, 3 Mien could increase market share by approximately 1% through an

increase in sales volume of 5 - 8% by covering extensively 3 Mien's

products advertising campaigns in the media, particularly on platforms such as Tik Tok and Instagram, which 3 Mien currently lacks as mentioned

in the evaluation section in Promotion

VIII. Marketing Recommendations

1 Product:

Firstly, Uniben may use more eye-catching decorations on the packaging

of 3 Mien noodles to make them stand out in the supermarket's noodles department and attract more attention from customers

Secondly, utilizing plastic packets would take a long time to decompose, negatively impacting the environment Hence, the corporation should

invest in researching new packaging with environmentally friendly

materials

2 Promotion:

In addition to implementing product advertising campaigns as mentioned

in the marketing objective sector, 3 Mien may consider re-launching the successful previous campaign, which donated 150,000 nutritious meals to frontline medics combating the Covid-19 pandemic

By doing this campaign, 3 Mien can ensure the company's social

responsibility commitments, increase brand awareness, and most

importantly, cultivate a good image of the company in the minds of

Vietnamese people

IX Conclusion:

The biggest unique feature of 3 Mien noodles is that noodle production mainly focuses on consumer health and implementing social activities Uniben is on track to surpass Acecook as the market leader soon, thanks

to the company's steady growth in creating new tastes, caring for

consumers' health, and commitments to social responsibility

3 Bach Hoa Xanh 2021,’Siêu thị Bách hoá XANH - Mua bán thực phẩm,

sản phẩm gia đình’, www.bachhoaxanh.com, viewed 29 May

2021,<cay-goi-75gr>

https://www.bachhoaxanh.com/mi/mi-3-mien-gold-tom-chua-4 Bộ Y tế 2021,’Trang tin về dịch bệnh viêm đường hô hấp cấp

19’, Bộ Y tế - Trang tin về dịch bệnh viêm đường hô hấp cấp

COVID-19, viewed 30 May 2021,<https://ncov.moh.gov.vn/>

5 Chi D 2020,’Mì 3 Miền tôm chua cay đặc biệt - thêm lựa chọn cho những bữa ăn Việt’,vnexpress,viewed 29 May

2021,<them-lua-chon-cho-nhung-bua-an-viet-4104854.html>

https://vnexpress.net/mi-3-mien-tom-chua-cay-dac-biet-6 Dat Nguyen 2020,’Instant noodle demand boils over as coronavirus

stirs fear’,VnExpress International – Latest news, business, travel

and analysis from Vietnam, viewed 22 May

2021,<noodle-demand-boils-over-as-coronavirus-stirs-fear-4064688.html>

https://e.vnexpress.net/news/business/data-speaks/instant-7 Duc T 2021,’Thay áo mới cho mì ăn liền: Giá trị dinh dưỡng được

UNIBEN đặt lên hàng đầu’,Báo Công an Thành Phố Hồ Chí Minh,

viewed 22 May 2021,<lien-gia-tri-dinh-duong-la-yeu-to-duoc-uniben-dat-len-hang-

http://congan.com.vn/thi-truong/cho-mi-an-dau_108959.html>

8 Dương D 2021,’Hơn 800 triệu được Mì 3 Miền trao tặng để vinh danhBiệt đội Siêu trí tuệ Việt Nam’,Cafef, viewed 30 May

2021,<tue-viet-3-mien-tri-gia-300-trieu-dong-20210202171216243.chn>

https://cafef.vn/3-thi-sinh-sieu-tri-tue-xuat-sac-gianh-giai-tri-9 Euromonitor International 2021, Rice, Pasta and Noodles in Vietnam,

Euromonitor International, viewed 29 May 2021, RMIT Passport

database

10 Feichtinger, G, Luhmer, A & Sorger, G 1988, 'Optimal Price andAdvertising Policy for a Convenience Goods Retailer', Marketing

science (Providence, R.I.), vol 7, no 2, pp 187-201

11 FPT 2016, ‘FPT Software kicks off DMS project for Uniben’, FPT,

viewed 22 May 2021,<software-kicks-off-dms-project-for-uniben>

https://www.fpt.com.vn/en/ir/news/fpt-12 Huong T & Manh P 2021,’Đánh giá tác động của đại dịch Covid-19

đến các doanh nghiệp Việt Nam’, TapChiTaiChinh, viewed 22 May

2021,<