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2.1. Business Idea
2.1. Business Idea
Introduction
2. Business Description
2.1. Business Idea
At this time, all activities are being carried out online with the goal of reducing
individual interaction induced by the Covid outbreak. Everybody is also informed that
health protection is extremely important and immediate. We have indeed decided to
create a nutritious food brand to help individuals have a healthy lifestyle and a sedentary
living. And our key type of organisation is online sales, which is competitive but
successful and easy to develop for both small and beginner companies. In addition, this
also lets enterprises or business households save on energy and machinery expenses.
We will prioritize the use of biodegradable packaging, one of the solutions to help
create a newer type of plastic packaging that can meet the decomposition
requirements in natural environments to realize environmental protection campaign.
Previously, only 2% of non-biodegradable packages were recycled, and the cost of
recycling was too expensive.
2.3. Vision and Mission statement
2.3.1. Vision
Go Healthy has become the leading brand of clean and trusted meals in Vietnam
with green, clean and delicious quality products.
2.3.2. Mission
Go Healthy is based on the foundation, brand name that brings quality meals, green,
clean and clear origin for Vietnamese people. Besides, Go Healthy is also a brand
that always creates value and difference, operating under the motto of customer
first.
2.4. Opportunity
Our incentive is to create a variety of organic foods to preserve buyers' health, resist
using old food because there are many circumstances for revenue and high turnover,
some business owners do not hesitate using unsafe food, food of uncertain origin to
make more sales which affects consumer's health. Ho Chi Minh City is a congested place
with many young people so there will be many different dietary needs because of this.
But at the present time, due to the raging epidemic, the living environment is becoming
increasingly contaminated, and people consider switching to eat more organic food than
before. In addition, everyone is conscious that the protection of health is incredibly
necessary and essential, besides keeping fit, the exercise to have an attractive and toned
body is also the dream of many teenagers. Vietnamese people in particular and other
countries in general are very fond of vegetarian diets or consume vegetables and fruit.
As you can see, parents also feed their children vegetables at a young age so that they
can consume vitamins from plants such as pumpkin, carrots, and broccoli, preventing the
future that they would not want to eat vegetables, but rather meat and treats that are not
good for their health. Our items would be the perfect option for those who want to lose
weight, stay fit, vegetarians as well as those who are practicing healthy eating.
3. Industry Analysis
3.1. General Industry Analysis
3.1.1. Industry History
For a long time in the world, from the Middle Age, the inns and café, pubs have
been indispensable in any town. But the concept of F&B really took off in the early
19th century when Nicholas Appert invented canned food and Louis Pasteur
invented the "Pasteurization" (pasteurization technique). Since this time, food can
be preserved, stored and used for a long time, the F&B industry really thrives.
3.1.2. Overview Industry
By the end of 2016, the country had about 540,000 restaurants, including 430,000
small stores, more than 7,000 fast-food restaurants, 22,000 coffee and bar-
restaurants, and more than 80,000 well-developed restaurants. The F&B industry is
considered to have a very strong growth potential in Vietnam with great prospects.
In 2017, the industry achieved a compound annual growth rate of about 12% and is
forecast to grow 18% / year on average soon. According to research data from a
market research company, the food industry is one of the three fastest-growing
commodity groups in 2017.
The well-controlled Covid-19 epidemic helps the activities of the accommodation
and catering services industries to be promoted in the direction of increasing
diversity and diversity, improving the quality for recovery and development.
Revenue from accommodation and catering services in November 2020 reached
VND 47.4 trillion, up 3.2% over the previous month and down 6.5% over the same
period last year. In which, accommodation service revenue accounted for 9.2%, up
6.7% over the previous month and down 19.4% over the same period last year; food
service revenue accounted for 90.8%, up 3.0% and down 5.0%.
3.1.3. Go Healthy in the F&B industry
The project “Go Healthy - Eat Fresh Live Green” relates to the service industry,
more specifically the Food & Beverage (F&B) industry. Structure of service
industry: Generally in the first 11 months of 2020, total retail sales of consumer
goods and services reached 4,590.7 trillion VND, up 2% over the same period last
year, if excluding the price factor. down 2% (up 9.1% in the same period in 2019)
(Ha, 2020). The network of commerce and services expands with many economic
sectors participating, ensuring the balance of supply and demand for essential goods
to meet the production and consumption needs of the people. Commercial
infrastructure is interested in investing, the system of trade centers and supermarkets
was formed and developed, contributing significantly to increasing retail sales of
food, food, garment, and household appliances and appliances.
3.2. Detail Industry Analysis
3.2.1. Threat of Substitutes
There are some rivals in the healthy food industry in Vietnam that compare with us,
along with some brands such as Fit and Tasty, Fitfoodvn, Xanh Low Carb house,
Eat more salad. Those opponents already have a huge dedicated audience, this will
give our organization some disadvantages. Besides, customers can turn easily to
other companies that are cheaper than us. In contrast, clients have a large range of
brands to choose from and in order to maintain them, our items have to meet the
needs of the target clients, to attract potential customers as much as possible, we
also need to try new ones in the food menu.
3.2.2. Bargaining power of suppliers
There are some rivals in the healthy food industry in Vietnam that compare with us,
along with some brands such as Fit and Tasty, Fitfoodvn, Xanh Low Carb house,
Eat more salad. Those opponents already have a huge dedicated audience, this will
give our organization some disadvantages. Besides, customers can turn easily to
other companies that are cheaper than us. In contrast, clients have a large range of
brands to choose from and in order to maintain them, our items have to meet the
needs of the target clients, to attract potential customers as much as possible, we
also need to try new ones in the food menu.
3.2.3. Industry rivalry
Recently, the majority of enterprises in the healthy food service industry has risen.
New brands are launched each year with an array of genres that have led to intense
competition among business rivals. The brands' foods and services are often the
same. Moreover, when clients are demanding high and cheap prices, they often
search for tasty food brands, specialties to ensure food hygiene and safety at decent
cost, and have many holiday sales for them. These are the major factors why intense
competition between brands is becoming increasingly prevalent, particularly as
consumers have begun to care more about their health and prefer to eat healthier
food. Although there are many successful corporations in this domain, many
companies still fail to shut down their businesses, which means they lost billions of
dollars, so brands always find a way to continue the business to meet investment,
even sell food at a reduced price, but still have to guarantee the food quality.
4. Macroeconomic Analysis
The economic environment includes all the macro factors that affect people's purchasing
power. It is the national economic growth, inflation, unemployment, and bank interest rates.
These economic factors directly affect the purchasing power of the people, the government,
and enterprises, and therefore also directly affect the Marketing activities of enterprises. So,
before starting the project "Go Healthy", a macroeconomic analysis in Vietnam is a very
important thing to do:
4.1. Gross Domestic Product (GDP)
GDP in 2020 increased by 2.91% (in the first quarter increased by 3.68%; in the second
quarter by 0.39%; in the third quarter by 2.69%; in the fourth quarter by 4.48%) in the
context of the Covid-19 epidemic. Complicated, negatively affecting all socio-economic
fields is the great success of Vietnam. This shows the correctness in the direction and
administration of economic recovery, disease prevention, and the determination and
consensus of the entire political system, the Government, the Prime Minister, efforts,
and efforts. efforts of the people and the business community to effectively realize the
goal of "both preventing epidemics and developing socio-economic". In the general
growth rate of the whole economy, the agriculture, forestry, and fishery sector increased
by 2.68%, contributed 13.5% to the growth rate of the total added value of the whole
economy; industry and construction increased 3.98%, contributed 53%; the service
sector increased 2.34%, contributing 33.5%.
Regarding the use of GDP in 2020, final consumption will increase by 1.06% compared
to 2019; asset accumulation increased 4.12%; exports of goods and services rose 4.97%;
imports of goods and services rose 3.33%.
4.2. Inflation
In October 2020, a number of localities across the country implemented an increase in
tuition fees for the new school year 2020-2021 according to the roadmap, making the
price index of the educational services group increase by 1.52% over the previous
month, leading to the overall CPI. 0.08% increase. Floods in the central provinces have
caused serious damage to people and property, and the loss of crops has made the price
of fresh vegetables in the whole country in October 2020 increase by 1.86% compared to
the previous month, affecting CPI overall increased 0.04%. However, the consumer
price index in October 2020 compared to the previous month and compared to December
last year only increased by 0.09%, both the lowest level in the 2016-2020 period.
Generally, the average CPI in 10 months of 2020 increased by 3.71% over the same
period last year. Average CPI growth rate in months tended to decrease, which is a
positive sign that the average CPI in 2020 reaching the target set by the National
Assembly below 4% is feasible thanks to price management and inflation control well.
4.3. Unemployment
The country's average population in 2020 was estimated at 97.58 million, up 1,098.7
thousand people, equivalent to an increase of 1.14% compared to 2019, of which urban
population was 35.93 million people, accounting for 36,8%; rural population 61.65
million people, accounting for 63.2%; the male population is 48.59 million, accounting
for 49.8%; 48.99 million female population, accounting for 50.2%.
The labor force aged 15 and over by 2020 will be 54.6 million people, a decrease of 1.2
million people from the previous year; the labor force in the working age is 48.3 million
people, down 849.5 thousand people over the previous year; 53.4 million workers aged
15 and over are working.
The overall national unemployment rate in 2020 is estimated at 2.26%, of which the
unemployment rate in urban areas is 3.61%; in rural areas, it is 1.59%.
The underemployment rate of laborers in the age group 2020 will be 2.51%, of which the
underemployment rate in urban areas is 1.68%; the Underemployment rate in rural areas
is 2.93%.
5. Target Market
5.1. Geographic
Go Healthy will initially focus mainly on office workers, particularly those who need to
lose weight working and living in Ho Chi Minh City, particularly in areas with many
corporations and industries. Ho Chi Minh City is a key economic region with more than
100 firms, making it one of the cities with the biggest proportion of office workers in the
country, making it easy for Go Healthy to concentrate more on its targeted audience. Our
goal when choosing to focus on the city is for the company to convince customers to use
the service in a variety of ways, as well as to serve customers the best experience
possible to accommodate their requirements.
5.2. Demographic
For the target client, the age at which the organization selected is office workers that is
22 to 40 years. This is the average age for most office employees, who need to manage
their weight, but most of them do not have time to prepare for their own cooking, so they
would need nutritious items and ready-made meals to save their time. According to the
age mentioned, the majority of people with incomes ranging from 8 million to 15 million
VND will earn the appropriate income from customers that Go Healthy seeks to allow
buyers to pay for their requirements while choosing and purchasing goods.
5.3. Psychology
Most of Go Healthy's customers are those whose lifestyles are concerned with health,
physique and weight. They want to figure the right solution to their business through
healthful, efficient and fresh organic food. In addition, Go Healthy also offers customers
with information on food packages that are appropriate for their expenditure and needs,
or gives them effective weight-management, health-care workouts. For clients with such
balanced lifestyles, their attitudes would be compassionate because they prefer to
appreciate and care about their body and health. They want to be innovative with their
meals, think about their nutritional needs and take the initiative to take care of
themselves.
- The brand that Go Healthy offers is both convenient and nutritious, not only
does managing your weight and giving you a good appearance, but it is a critical
factor in your actual status. They can also have a healthy meal quickly instead of
trying to prepare in the kitchen when the time is too limited due to work and
other activities. The main clients of Go Healthy are business employees and
gymnasts, with salaries of more than 8-9 million VNĐ and belonging to a young
population, a group of people with a fairly average income in society.
- They frequently tend to join groups that share food-clean cooking experiences,
or sites with DAS, KETO. Or they generally spend their money buying non-fat
snacks. They also often spend a certain amount of money purchasing oats from
supermarkets or grocery stores. They will compare and consider the cost while
shopping, measure in detail whether or not such a meal will be reasonable,
calculate how much money they will save if they cook on their own. And they
also think about choosing between various healthy diets before they make a final
decision. These consumers are typically attracted by this form of marketing with
bundled goods.
- Promotional items can include low-fat cookies, weight loss snacks, protein bars.
Thanks to that, the business has been influenced by the consumers mindset and
purchasing demand, which makes the business gain a large number of existing
clients as well as new clients.
5.4. Differentation
o Strengths:
A varied menu, rich, full of dishes from Europe to Asia. Hit
mostly traditional Vietnamese dishes but is seasoned to minimize
spices, to reduce bad starch and to decrease the use of meat.
In addition to packages from Monday to Friday or Saturday, the
store will continue to offer signature menu items on Sundays.
Daily and monthly food packages are diversified to meet the
needs of consumers. Beside, there are always available items in
the menu featured so that consumers can change the items in the
package they want or in case they are allergic to the ingredients.
Always accept orders from buyers and deliver them in the
morning (before breakfast) or at the time requested by the buyer.
Delivered in the form of frozen food, but still warm to customers
when delivered in the morning (if requested).
Linking with units such as Grab, Now so that retail consumers can
order meals on a particular menu and extend the image of the
store.
Raw materials are supplied from reputable quality-testing units.
Eco-friendly boxes and bags are used, such as bags made of
bagasse and fast-decomposing plastic bags.
o Weaknesses:
The price of our brand is quite average, about 45.000 to 50.000
VND/meal, probably will not attract the majority of students.
There is no store for clients to sit back and use right there.
o Opportunities:
To reach the main audience are the office staff, the gymnast and
who need to lose weight.
Opening hours and serving meals during the week, including
Sundays, should be open to individuals who want to eat on
Sundays that other businesses do not open.
The diverse menu of food, which focuses on Vietnamese dishes,
will draw customers who are Vietnamese food lovers and elderly
people in need.
o Threats:
It is not possible to meet the majority of people in need because it
is a young unit that lacks credibility in the eyes of its clients.
Typical side dishes may fall in the backlog due to a lack of orders.
Ignoring the amount of clients who want to eat at the store.
6. Marketing Plan
Since Go Healthy is mainly based on online form, it will focus more on marketing customers.
Develop marketing strategies to activate GO HEALTHY brand, attract customers, create
competitive advantage and devise Marketing strategies:
Implementation
of marketing
plans, managing
pages, social
networks
Discount 15% of total bill The first opening Build awareness of the
Opening day (facebook,
value week branding of consumers.
Instagram) and
planning
marketing
communication
programs
Staff checks
Loyal Get a 10% discount when giving Raise 1,000 followers per
Daily
customers voucher for the next order vouchers and month on Facebook and
when customers Instagram from the start of a
8. Conclusion
The key goal of the business report is to provide a summary of a business concept. The initial
intention was that anything so unique today would be built into a comprehensive strategy of
rationale, a publicity plan, and a long-term action plan. Go Healthy have the chance to
succeed on the market but it is just a prediction. Many unforeseen factors will decide on a
venture's success or failure. "Send business people: if you want to do something, do it now."
-Catherine Cook - Co-founder of MyYearbook Social Network (now MeetMe)