(TIỂU LUẬN) MARKETING PLANNING FOR PRODUCTS FAMI JELLY OF VINASOY

THE FINANCIAL UNIVERSITY OF FINANCE AND MARKETING FINAL REPORT MARKETING MANAGEMENT MARKETING PLANNING FOR PRODUCTS FAMI JELLY OF VINASOY Teacher advisor: Mr... Vinasoy's product line

THE FINANCIAL UNIVERSITY OF FINANCE AND MARKETING

FINAL REPORT MARKETING MANAGEMENT

MARKETING PLANNING FOR PRODUCTS

FAMI JELLY OF VINASOY

Teacher advisor: Mr Dang Huynh Phuong

Team: ALL STARS

Thành ph H Chí Minh - 2021ố ồ

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TABLE OF CONTENTS

1.0 EXCUTIVE SUMMARY 2

2.0 SITUATION ANALYSIS 3

2.1 Market Summary 3

2.1.1 Market Demographics 3

2.1.2 Market Needs 4

2.1.3 Market Trend 5

2.1.4 Market Growth 5

2.2 SWOT Analysis 6

2.2.1 Strengths 6

2.2.2 Weaknesses 6

2.2.3 Opportunities 6

2.2.4 Threats 7

2.3 Competition 7

2.4 Product Offering 7

2.5 Keys to Success 8

3.0 MARKETING STRATEGY 8

3.1 Mission 9

3.2 Marketing Objectives 9

3.3 Financial Objectives 9

3.4 Target Markets 9

3.5 Positioning 10

3.6 Strategies 11

3.7 Marketing Program 12

3.8 Marketing Reaserch 19

4.0 FINANCIALS 19

4.1 Break-Even Analysis 20

4.2 Expense Forecast 20

5.0 CONTROLS 20

5.1 Implementation 21

5.2 Marketing Organization 21

5.3 Contingency Planning 21

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FAMI JELLY

1.0 EXCUTIVE SUMMARY

Joint Stock Company, established in 1997 and specializes in soy nutritional products Vinasoy which has developed for 20 years, is currently the leading company in the paper packaging soy milk industry nationwide with more than 84% market share Vinasoy's product lines focus on dairy products which are called: Fami, Fami Go, Vinasoy To suffie many consumer tastes of a nutritious snack by developing a variety of product lines for all ages, Vinasoy launches a new product called "Fami Jelly" - a soy milk which is softness, pure smoothness, is frozen enough Vinasoy have advantage of equipment which called Vinasoy Bac Ninh Soy Milk Factory, is the most modern and largest soy milk factory in Southeast Asia (area over 61,000m2; equipped with technology of Tetra Pak Group (Sweden)) This

is the only system of synchronized soy milk production in Vietnam Vinasoy will initially update the product information about the new product on the company's website The direct method of communication is to use mass advertising such as television, newspapers, social media (content video, KOL-Community Group) Thanks to those tools of advertising, Vinasoy not only could reach every household which is from city and countryside but also attract young consumers As a result, Vinasoy could achieve higher profits and maintain a close relationship with customers Vinasoy will distribute firstly new products at large supermarkets such

as Coopmark, BigC, sales chains and small stores In additon, Vinasoy sells its merchandise at convenience stores such as Mini Stop, Circle K, GS25, ect to reach

2.1 Market Summary

In the context of the Covid-19 pandemic, Vietnam is one of the few countries

in the world with positive economic growth (+2,91%) According to AC Nielsen

Vietnamese consume more than 1,7 million litters of soymilk everyday, of which more than 32% are canned products

+ The per capita income of Vietnamese people is about 3,000 USD/person/year

Fami Jelly target consumer who have interest in healthy lifestyle and seek to

+ Healthy product: Consumer want a product which contain low-sugar, organic and provide them nutrients such as Omega-s, Vitamins,…

and can buy easily due to their busy life

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+ New healthy dessert: With the taste of cool, smooth, Fami Beancurd could

be a good dessert for tropical country like Viet Nam

2.1.3 Market Trend

According to market research reports in recent years, consumers are tending

to choose healthy and plant-based products They are also interested in limiting the amount of sugar in the product as well as adding essential nutrients

Fami Jelly is beancurd which the product that can meet those new trends With ingredients from organic soybeans, non-GMO with high nutrient content (omega, vitamins, minerals, ) At the same time, Fami Jelly is also interested in the amount

of sugar in the product In particular, Fami Jelly also has more options to combine with nuts such as walnuts, almonds, chia, to increase the nutritional content

Not only that, this is also the first canned beancurd product in Vietnam, which can be easily used and widely distributed throughout the retail locations across the country

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2.2 SWOT Analysis

2.2.1 Strengths

- Strong branding and setup experience In the years 1997 - 2002 Vinasoy had

to compete with many other big companies in Vietnam (Vinamilk, Dutch Lady, )

- Vinasoy has proven to be a major impact in the domestic market It is the foundation and springboard for international market entry

- Technology: Modern technology, with the first Vietnam soymilk factory in the top 5 largest soy milk factories in the world and Vinasoy Soybean Research & Application Center is the first and only center most in Vietnam

- The Vinasoy brand name has captured the hearts of Vietnamese people We were able to start distributing our products through Vietnamese people living in China

- Vinasoy has an enthusiastic human resource as well as the courage to learn and change

2.2.2 Weaknesses

- Vinasoy has never created beancurd to compete with other pre-produced manufacturers, especially Soya, and customers are still familiar with pre-existing Beancurd types in the market

- Beancurd is a food that is difficult to preserve in the long term

2.2.3 Opportunities

- Compete with Soya Garden which is already a well-known brand with delicious beancurd

- The number of customers who have demand for beancurd is increasing day

by day So if Vinasoy can create a canned beancurd product that can be preserved for a long time with good quality, then this will be a good opportunity

2.3 Competition

Vinasoy is one of the most well-known enterprises in Viet Nam for their Soybean product and all of them is milk With the new Canned beancurd product, they will join the dessert market which there is a lot of competitors one of them is Yogurt, Flan which is very popular nowadays But Vinasoy will be the first one to mass production canned beancurd which no one has ever done before that will be a big advantage that vinasoy had in this dessert market But other big companies that mass production Yogurts like Vinamilk and TH True Milk and Anh Hong's Flan have been in this market for a long time so customers are more familiar with them and that is one of the advantages they have

2.4 Product Offering

✓ THE SCENE OF NATURE

Maybe you do not know, Beancurd is a famous dessert from the island nation

of Singapore and there is a legend that "anyone who comes to Singapore but has not

hundreds of shops specializing in bean milk

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✓ EASY TO FIND INGREDIENTS

Still a familiar main ingredient from 100% organic soybeans, fragrant soy milk blends with some natural flavors like pineapple leaves or Japanese green tea, and then "molded" with extracts 100% frozen is known as the essence of the sea - Carrageenan algae, and so on, every mold of pure white beancurd was born

✓ TASTE

The sweet and refreshing taste of organic soy milk, the pure aroma of the pineapple leaves, a little smoothness of the tongue, the cool

2.5 Keys to Success

The key is to make the most delightful, delicious and healthiest beancurd that

no one have ever made in Viet Nam Ensure the customer satisfaction with the flavors of the beancurd when they have the first taste of the beancurd that was made

by Vinasoy

3.0 MARKETING STRATEGY

Vinasoy will definitely not be missed in terms of creativity and breakthrough

It is considered as a "gold" brand and put its name on the list of companies operating effectively, sustainable development and daring business strategies in the market If

20 years ago, when large enterprises raced to produce cow's milk, Vinasoy chose a separate niche with a strategy focused only on soy milk production Then with the advantage of going ahead, Vinasoy focused on exploiting the potential of the soy milk market and now, when the trend of nutritious plant-based beverages is rising worldwide, Vietnamese people also start to pay attention to this folk but nutritious drink, Vinasoy has almost completely dominated the carton of soymilk segment with

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more than 80% market share of a trillion-dollar industry_ a desirable ideal figure of

any business in the FMCG industry

3.1 Mission

Vinasoy’s mission is to offer the highest quality nutritional products to their customers in all markets where they operate “We resolve to continuously research and refine production of nutritional soy-based foods and drinks to provide the best quality for a discerning consumer group This will enable not only ourselves and our partners but also the community at large to enjoy a higher quality of life, with meaning and prosperity”

▪ Aim to produce other products derived from soybeans

▪ Increase promotion and distribution activities in the country and the world

3.3 Financial Objectives

▪ Maintain growth of at least 20% per year

▪ Maintain marketing and promotion expense about 7-8% of total costs, the average level of FMCG industry

▪ Focus on highly profitable activities and suspend unsatisfactory channels

3.4 Target Markets

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With the trend of consuming organic food, healthy eating and plant-based nutrients, Vinasoy is constantly researching and innovating to diversify products to meet the increasingly demanding needs of consumers Currently, people's eating

– healthy" products is gradually becoming a trend and can create a revolution in the field of food and beverages around the world According to Nielsen's research

naturally sourced products for daily meals because they are safe, rich in nutrients

consumer trend of the market, how to match the nutritional needs and tastes of users Although, Vinasoy is leading the soymilk market, about 50% of rural households

Vinasoy determines that the focus of its market share expansion strategy is to conquer this new group of potential customers Especially in the South, consumers prefer new, sensitive and rapidly changing manufacturers

3.5 Positioning

Vinasoy will position itself as a leader in the domestic soybean production and processing industry This positioning will be achieved by leverage Vinasoy’s competitive edge: the first and only enterprise in Vietnam specializing in soybean only

Vinasoy's commitment is always bring customers the best health as well as the best taste of natural soybean Unlike competitors who have made flavored soy bean products, Vinasoy only focuses on making natural soy bean or if there is an additional flavor, it still uses the traditional cereal flavor

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3.6 Strategies

The goal objective is to position Vinasoy as the premier producing and

soybeans and a methodical and scientific branding approach A good product is the core of a business During nearly 20 years of working with only soubeans, Vinasoy has gathered the secrets to creating the best quality products for consumers The message that Vinasoy seeks to communicate is that it provides the best quality and most nutritious soy products This message is transmited through a variety of methods The first is the Vinasoy Corp web site, which provides a reliable source

of Vinasoy and offers a rich source of product information For instance, Vinasoy's products are well received by consumers because of the manufacturer's

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understanding when creating products suitable for each customer segment: products for families, children, women and recently Soymen - the first soy milk for men in Vietnam It can be said that Vinasoy's command and foundation for all business activities revolves around the philosophy of "An và Lành"

The second medthod of communication is that constantly hold international scientific conferences on "healthy nutrition" – soy milk These are valuable industry workshops, rare in Vietnam to update the latest knowledge about soybeans in the world to help people better understand this precious food At the same time, Vinasoy

Vinasoy's brands have built their own place in the hearts of consumers through clearly portraying and impressive identity of each specific brand: Vinasoy's parent brand is a source of healthy nutrition, Fami is a family-friendly product, Vinasoy is the product representing nutrition with beauty

The last marketing method is using mass media such as television, newspapers, and Internet media to reach each household from city to countryside and reach young customers who use the Internet more than watch tivi

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with current products Since then, launched new features for products such as

attractive marketing programs to attract customers' attention

- Currently, Vinasoy products in general and Fami line in particular are showing their orientation, they always have a breakthrough in products, focus on increasing value and benefits for customers All product messages are aimed at the right target customers

a ceiling price or possibly a floating price depending on the market area

- According to the distributor model, distributors will purchase goods directly from the Company at the price offered by the Company with a deduction of a part

of the discount Distributors while redistributing the wholesale and retail intermediaries to make the discount at the rate required by the Company Consumers will purchase at a price sold in retail outlets

Place: FamiJelly products are distributed through 2 channels: direct channel and indirect channel Promotion: The campaign will be carried out in a variety

of ways

- Vinasoy’s direct distribution channels include the Company's sales staff, the product introduction store placed in front of the Company's portal

- Distribution model: Besides using traditional distribution channels, the

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- We use some available advertising tools such as product packaging, product introduction documentary which will inform on our company website and pages on Facebook

- At the point of sale: Posters, banners, product displays, and on the street: Panel, banner, steam gate,

- We also conduct 2 campaigns to introduce new product and attract customers’ attention

Those campaigns are described in master plan

• Sales promotion: We will implement both consumer promotions and point-of-sale promotions

- Promotion for customers: We will organize programs such as "Lucky draw" with attractive rewards to create attention for customers and stimulate them to buy products

- Promotion for retail outlets: By purchasing base promotional vouchers (applied in peak months when consumption is large), for example: if they buy 03 boxes of FamiJelly, we will give them 1 box of other diary milk products

Annually, we organize sales conferences and participate in fairs and exhibitions, sell over the phone

VinaSoy organizes talks and seminars about company’s nutritional products

We also sponsor game shows on television such as Fast like lightning (Nhanh như