International marketing final report – teteu cake

Business objectives @ Specific : © Increase revenue in the total SOM market share when selling tacos through the Korean market through online and offline marketing plans, campaigns for

UNIVERSITY OF ECONOMICS & FINANCE

® UEF

UNIVERSITY OF ECONOMICS & FINANCE

INTERNATIONAL MARKETING

FINAL REPORT — TETEU CAKE

Lecturer: Ho Huu Luc

Members

Full Full name Student ID Contribution

01 Le Nguyen Hong Nga 200017550 100%

02 Huynh Lai Ngoc Nhung 205044447 100%

03 Nguyen Tuan Vi 215041670 100%

04 Le Thi Minh Trang 205042564 100%

05 Nguyen Hoang Nhi 205040916 100%

Ho Chi Minh, October, 2023

CONTENTS

I CAMPAIGN OBJECTIVE

1.1 Business objectives

1.2 Marketing objectives

Tl MARKETING MIX - 4Ps

2.1 Product

2.2 Price

2.2.1 Pricing methods

2.2.2 Pricing

2.3 Place

2.4 Promotion

Tl CAMPAIGN OVERVIEW

3.1 Insight

3.2 Key message

3.3 Brand Relay

TV MASTER PLAN

V HRPLANS

VI SCHEDUAL PLANS

Vil ACTION PLAN

VIH BUDGET PLANS

IX CONTROL PLANS

X KPIs

XI REFERENCES

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L CAMPAIGN OBJECTIVE

1.1 Business objectives

@ Specific :

© Increase revenue in the total SOM market share when selling tacos through the Korean market through online and offline marketing plans, campaigns for 6 months (10/2/2024 — 10/8/2024)

@ Measurable:

o Achieve 10% revenue in total SOM market share when selling tacos through the Korean market (Equivalent to minimum revenue of approximately 13.683.191.000 VND in revenue) Measure quarterly market share based on sales data, conversion rates, and market research

@ Achievable:

o Market research and demand analysis in South Korea suggest that a 5% market share can be achieved

@ Relevant:

© Gaining significant market share in Korea is in line with the company's expansion strategy and desire to introduce Vietnamese culture through cuisine

@ Time:

o Achieve the target within 6 months (10/2/2024 — 10/8/2024)

1.2 Marketing objectives

@ Specific:Specifie-

© Increase brand awareness oft the total SOM market share through marketing and communication plans in the next 6 months

© 20% increase in brand awareness in total SOM market share after running

communication campaigns Measure through metrics analysis reports after running campaigns

@ Achievable:

© With the analysis and research of customer needs in Korea, the campaigns launched will partly stimulate and match the wishes of customers

@ Relevant:

o After running communication campaigns, it will help increase brand awareness for Teteu cake products Build loyalty for customers, increase conversion rates for businesses Thereby contributing to increasing revenue for businesses

@ Time:

© Achieve the target within 6 months (10/2/2024 — 10/8/2024)

Il MARKETING MIX - 4Ps

IL1 Product

@ Product Features

Meals are not just about enjoying food, but also a way to create family and community bonds Understand the taste, eating habits, and food culture of Koreans Koreans often

prefer dishes with rich flavors and spices such as garlic, onions, peppers, peanuts, black beans, and soybeans

They enjoy a combination of bold flavors, a variety of small dishes, and respect for long-standing traditions Change or tweak the ingredients, taste, size, and shape of tacos to fit the taste and desires of Korean consumers This helps businesses adapt their taco products to suit local preferences

Rice and noodles are basic ingredients in Korean cuisine Rice is usually processed

into rice (called "“bap") and noodles are used in stir-fried noodles (called

"Jajangmyeon") or mixed noodles (called "bibimmyeon") Tet cake products made from glutinous are familiar and traditional ingredients of Vietnam and have potential and wide popularity in the Korean market

Although not all Koreans are vegetarian, vegetarian dishes (called "sanchae") have an important place in Korean cuisine Vegetarian dishes usually contain vegetables, tubers, beans and mushrooms And the nght vegan cake product is an ingredient

choice that contains: Glutinous and beans

Kimchi is an integral part of Korean cuisine It is a tart and spicy spice made from

cabbage (salted cabbage) or cabbage and brewed in spices This is considered a dish that symbolizes Korea It is known around the world as the "Land of kimchi" and Tet cake can be a meal combined with kimchi Creation of a dish that combines two cultures, and traditional beauty of Korea and Vietnam Ensure high quality and meet Korean food safety requirements to create trust and trust from consumers

@ Product differentiation

Factors where Tet cake products can excel, such as unique taste, high-quality

ingredients, or special processing

Koreans are often busy because of work, they often spend little time or use fast food and Tet cakes that bring convenience, can be fast food but ensure nutrition in Korean consumer meals

Use organic, preservative-free, or gluten-free tacos to serve a special group of

customers

@ Select products to export to the Korean market

s* Five-colored tet cake Hai Ly five-color tet cakes have 4-5 colors of sticky rice, including a vanety of fillings in accordance with the long-standing five-color philosophy of Korea, and are

very popular with Vietnamese people

Korea and the Five Colors philosophy, the most important point of the Five Colors

philosophy in Korean cuisine is not only beautiful and delicious but also good for

health

Obangsaek - Five Directions (24!44 | HA) is a color that comes from the philosophy of yin and yang and five elements (S@&OHus | lê IhƒrŸ) and symbolizes the five elements (24) This principle has

great effects on all aspects of Korean culture and life

Obangsaek includes 5 colors: blue, red, yellow, white and black These are the 5

colors that represent the world and fortune in Korean culture

The five colors not only symbolize the directions: east (blue), south (red), center (yellow), white (west) and north (black), they are also said to symbolize the “Five Elements of Life” live” according to traditional concepts The five elements of life are wood (green), fire (red), earth (yellow), metal (white) and water (black) All of these elements — and all of these colors — are considered essential for a healthy,

prosperous and long life

Some mix 'obangsaek' (Korean colors) to create pink and green — also common in traditional Korean art and culture

Black foods often include black beans, black sesame, black rice, seaweed, wood ear mushrooms and black foods have a calming effect on the mind, and are also good for the kidneys and bladder

Red includes foods such as red chili, red pepper, red rice which have the effect of nourishing blood, promoting better blood circulation

Green colors are usually cucumbers, green onions, celery, green vegetables which are very beneficial for the heart and also activate the liver and intestines

includes potatoes, onions, garlic, white radish, bean sprouts which are white foods that are good for the lungs and respiratory organs

Yellow is usually pumpkin, sweet potatoes, soybeans, eggs which help the pancreas and stomach function stably and stimulate appetite

Adhering to “Obangsaek” in Korean cooking was - and is - said to ensure a healthy

meal, both physically and mentally Eating a meal containing all five “Obangsaek” colors (with ‘blue’ often substituted for green) 1s said to nourish all five vital organs of

the body, while maintaining balance in life

The mixture of colors creates unique characteristics for the dish When used, all

ingredients are mixed together This represents the harmony and combination of

Obangsaek philosophy

“¢ Banana Teteu cake

Korea loves fruits, especially bananas, dishes with banana flavor

Delicious taste: Banana tacos have a delicious, rich flavor, made from fresh ingredients, ensuring food safety and hygiene

Nutritious: Banana Teteu cake are a nutritious product, providing many necessary nutrients for the body

Representing Vietnamese culture: Banana tacos are a traditional Vietnamese dish,

reflecting the country's culinary culture

The packaging design and packaging of Banh Tet product "Green color of banana

leaves, five-color cake filling and banana flavor filling" specifically adheres to the

five-color philosophy, the favorite banana flavor, is attractive and suitable for the market Local tastes and standards of Korean and Vietnamese consumers in Korea

Packaging ensures product safety and quality during transportation and storage

H.2 Price

11.2.1 Pricing methods Teteu Cake is a new bakery brand appearing in the Korean market, so it is necessary

to implement a penetration pricing strategy The goal of this strategy is to increase market share and attract potential consumers, so that they have the opportunity to experience and get to know the brand Therefore, we decided to apply the penetration

pricing strategy when exporting Teteu Cake to the Korean market

Penetration pricing strategies help brands compete with existing competitors by

adopting more attractive pricing The hope is that after a while, once the brand has

fixed its position and customers are familiar with the product, it is possible to

gradually increase prices to normal levels and retain already familiar customers This

will help build loyalty on the part of customers and strengthen their share of the Korean market The penetration pricing strategy is also a way to demonstrate and affirm its position in the Korean market, expand its presence and attract the interest of

customers and target markets Here are the advantages of choosing this pricing strategy:

@ High adoption and spread: The penetration pricing strategy helps in rapid adoption in the Korean market Customers are often more likely to notice lower prices and are willing to test new products or services

@ Lead capture: An attractive penetration pricing strategy for potential customers who are not yet familiar with the brand Lower prices can provide an incentive for them to experiment and become loyal customers in the future

@ Economies of scale: Relying on a penetration pricing strategy, a company can generate higher sales numbers by appealing to customers through more attractive prices than competitors

@ Increase customer goodwill: Customers often have more goodwill when they

feel they have found a bargain in the product or service The satisfaction and feeling of receiving benefits from reasonable prices will create momentum for customers to return to the business in the future

In addition, customer satisfaction and a positive experience can lead to a positive word-of-mouth effect, helping the company attract more customers without spending

alot of money on advertising

Using a pricing strategy in two different stages is a smart way to enter the Korean market and optimize profitability Here's a summary of this strategy:

@ Phase 1: Selling combos with kimchi

The main goal at this stage is to attract customers, create brand awareness and

compete with competitors By creating an initial promotion when exporting to Korea

@ Phase 2: Raise product prices

Once a sufficiently large market share and the brand has been built, price increases can be applied to better reflect its position in the market and optimize profitability It

Is necessary to focus on optimizing profits by clearly segmenting the market and applying pricing policies suitable for each customer segment

In a nutshell, this strategy allows leveraging the penetration phase to attract customers,

followed by the profit optimization phase to ensure sustainability and success in the

Korean market

11.2.2 Pricing The selling price of Teteu Cake in Vietnam currently ranges from 60,000 VND — 170,000 VND, for this price in Vietnam will be suitable for the middle segment and above, but when exporting to Korea, because of the exchange rate, the price sold in Korea will be suitable for the low to middle segment However, because we want to turn this tacos into a food that can be eaten every day, we will change the product from lkg to 300gram

The price of direct competitors of tacos is 5,900 won — 10,900 won / 500g

131, 500g

N DAU, 124, 500g SICE> Mj BANH TET NHAN DAU BANH TET NHAN CHUOI

8u CHUOI, 500g, 1A4|=

= =

yoke

Figure | : Price of tacos in Coupang

| After contacting the producer at HaiLy (Tat)?, we learned that 1 300g tat = 30,000 VND converted to won = 1,657 won

= Determine window price : 1,657 won — 6,540 won /300g

= Initial bid: 1,900 won

This is a suitable price so that low-middle-income customers can completely buy daily food products without worrying about the price

After we have set the initial price of the product, next we will set the combo price for tacos + kimchi

= Price Combo Teteu cake + kimchi = 2,390 won

IL3 Place

@ MT:

According to the data analyzed above, the target customer group of Hai Ly Cake in the Korean market is Vietnamese people currently living and working there For that

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reason, the brand should be distributed in big cities in Korea with a large number of

Vietnamese settlers such as Seoul, Incheon, Gyeonggi (Ansan, Ilsan, Suwon)

Supermarkets: Lotte Mart, Emart, Homeplus

Convenience stores: GS25, 7-eleven, CU (MIG)

@ Market place:

Thanks to the development of the Internet (Internet of Things), multi-regional connectivity has become easier Brands can put their products on popular e-commerce

platforms in Korea This not only helps the brand sell products on multiple platforms but also helps increase the brand awareness of "Tra Roll cake" - a specialty of Tra Vinh, Vietnam in Vietnam

E-commerce (website and apps): Coupang, Gmarket, Naver, Wemakeprice

@ Social Media:

Through the analysis of social media usage behavior in Korea, we can see that the majority of Koreans use at least one social networking platform Above all, Vietnamese people living there certainly use not only popular platforms of the Korean

market but also mternational platforms such as Facebook to keep in touch with relatives and friends back home Social media should be used: Instagram, Naver

(search engine), Facebook, Youtube

@ Direct Sales:

In addition to placing products on store shelves at supermarkets, at the initial stage of launch, businesses also need to organize product tasting booths and sell directly there From there, create more excitement and promote the attention of customers with this

tacos

Direct sales counters can be located at either end of the display row or at the bottom of the courtyard, right at the entrance of the supermarket Korean people have a walking

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