THE MINISTRY OF FINANCE

UNIVERSITY OF FINANCE – MARKETING

FINAL EXAM
MARKETING MANAGEMENT
MARKETING PLAN PROJECT OF CANDLE
BY QUANG MINH CANDLE

GROUP

LY THU KY – 1921000880

TRUONG MINH MAN – 1921000917

PHAN GIA CAT TUONG – 1921003892

CLC-19DMA12

HO CHI MINH CITY, 2021

 TABLE OF CONTENTS
PART 1: COMPANY INTRODUCTION ..........................................................1
1.1. About Quang Minh Candle .........................................................................1
1.2. Vision and Mission .......................................................................................1
1.2.1. Vision.....................................................................................................1
1.2.2. Mission ..................................................................................................1
1.3. Line of business and products.....................................................................1
1.3.1. Making candle .......................................................................................1
1.3.2. Types of candles ....................................................................................2
1.4 About scented candles ....................................................................................2
PART 2: MARKET RESEARCHING ...............................................................3
2.1. Competitive situation ...................................................................................3
2.1.1. Domestic competition ............................................................................3
2.1.2. Competition from abroad.......................................................................4
2.1.3. Competition from substitute products (Indirect competitors) ...............4
2.2. Market segmentation and target market selection ...................................5
2.2.1. Market Segmentation .............................................................................5
2.2.2. Target market selection .........................................................................5
2.2.3. Target market quantification .................................................................5
2.3. SWOT analysis .............................................................................................7
2.3.1. Strengths ................................................................................................7
2.3.2. Weaknesses ............................................................................................8
2.3.3. Opportunities .........................................................................................8
2.3.4. Threats ...................................................................................................8
PART 3: MARKETING STRATEGY ...............................................................8
3.1. Marketing Strategy Goals ...........................................................................9
3.2. Define Marketing Strategy ..........................................................................9
3.3. Marketing strategy.......................................................................................9
3.3.1. Product strategy .....................................................................................9
3.3.2. Product analysis ...................................................................................11
3.3.3. Pricing strategy ....................................................................................12
3.3.4. Distribution strategy ............................................................................14
3.3.5. Marketing communication strategy .....................................................14
3.3.5.1. Purpose ........................................................................................14
3.3.5.2. Strategy .......................................................................................15
PART 4: ACTION PLAN AND CONCLUSION ............................................17
4.1. Action plan for the first year.....................................................................17
4.2. Concluding ..................................................................................................18
4.2.1. Marketing plan summary .....................................................................18
4.2.2. Further control and growth plan ..........................................................19
DOCUMENTATION .........................................................................................21
APENDIX ............................................................................................................22

i
1. Forecasting Expenses .....................................................................................22
2. Sale Forecast ...................................................................................................23
3. Profit Forecast ................................................................................................23

ii
 LIST OF TABLE

Table 1: Table of production cost breakdown of four typical of candles ...........12

Table 2: Action Plan ............................................................................................17

Table 3: Control Plan...........................................................................................19

Table 4: Forecasting Expense ..............................................................................22

Table 5: Sale Forecast .........................................................................................23

Table 6: Profit Forecast .......................................................................................23

Table 7: Member’s group work assesment..........................................................25

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 LIST OF PICTURE

Picture 1: Quang Minh’s Tealights Candle ..................................................10

Picture 2: Quang Minh’s Tapper Candle ......................................................10
Picture 3: Quang Minh’s Candlestick ...........................................................10
Picture 4: Quang Minh’s Candle in a box ....................................................11
Picture 5: Marketing Communication Strategy ............................................15
Picture 6: Growth Plan for the next five years .............................................19

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 PART 1: COMPANY INTRODUCTION
1.1. About Quang Minh Candle

Since its establishment in 1999, Quang Minh Candle has successfully built a good
reputation for premium quality in Vietnam market. Since 2002, the company has
exported its products to many countries including the United States, European
nations, Japan, Australia, etc. Since its very first days, Quang Minh Candle is
proud of being the pioneer in creating inspiration for the candle users and being a
leading company in the market. During nearly 20 years of development, Quang
Minh Candle has constantly improved its product quality. As our main goal is
customer satisfaction, we are always committed to health and safety standards and
continually striving for international quality by using materials imported from
Malaysia, China, Germany, France, etc. And advanced manufacturing technology.

1.2. Vision and Mission

1.2.1. Vision
Quang Minh Candle wishes to affirm its reputation in terms of art – aesthetics,
feng shui and many spiritual meanings. Become a favorite and close to consumers.
Become the leading candle brand in Vietnam and reach out to the world.
1.2.2. Mission
BEAUTY FOR LIFE – bringing top quality products with our own respect, love
and responsibility to the community, enhancing the value of spiritual life for users.
1.3. Line of business and products
1.3.1. Making candle

Candles have been widely used for thousands of years and are considered a very
convenient and inexpensive source of light. Today, at the beginning of the twenty-
first century, the habit of using candles as a source of light is no longer there, due
to the presence of many modern lighting means such as electric lamps, etc. But
today, the use of candles becomes more diverse. Candles not only bring light but
are also used in festivals, beliefs and religions. Therefore, candles are also used
1
when we wish, wedding, dating, Valentine’s Day or birthday and stretch candles
are used in spas, family bedrooms. Candle making has been around for a long time
but only exists with the traditional craft form. Today, with the increasing and
diversified use demand, candle manufacturing companies appear on a large scale
with modern and professional production lines.

1.3.2. Types of candles

There are many different types of candles. They vary in shape, size and color. And
the uses are also different for each type, but in general they still retain the main
uses. Candles can absorb moisture and deodorize very well, so many families have
the habit of using candles to decorate their homes, meals or bedrooms... while
dehumidifying, deodorizing and bringing a cozy and romantic space.
Scented Candle – one of the high-end scented candle product lines of Quang Minh
Candle. Some outstanding products: Tealight candles, religious candles, insect
prevention candles, LED candles – Electronic candles.

1.4. About scented candles

Scented candles have the ability to emit fragrance when burned. Usually scented
candles are made from vegetable waxes such as butter wax, palm wax, soy wax...
plus aromatic oils. Scented candles are used by many people on birthdays,
Christmas parties, or simply burning in the room to create scent. In addition to the
purpose of diffusing aroma effectively, scented candles have a number of other
beneficial effects on physical and mental health. Some great effects of scented
candles: stimulating the ability to concentrate, helping to sleep well, helping to
create a pleasant, romantic atmosphere, deodorizing, repelling mosquitoes and
insects.

2
 PART 2: MARKET RESEARCHING

2.1. Competitive situation

2.1.1. Domestic competition
• CIDC Company

Is a pioneer in the field of manufacturing and exporting scented candles in

Vietnam. Director – artist Vu Dinh. The company’s factory is located on Au Co
street, Tay Ho district. Also focusing on export activities, the company’s main
export markets are the US, Western Europe and Japan.

• AIDI Vietnam Company

Currently being invested and built in Cai Lan industrial park, Quang Ninh
province with a capital of 3.5 million USD.

• Viet Dung Candle Company

As a company established in March 2006. After nearly 2 years of trading in candle

products, the company has researched and invested in producing Art Scented
Candles for daily use in families and festivals. In temples and churches.

• Some other small wholesale stores

Wholesale stores in Vietnam are not many and lack professionalism, do not have
a long-term development strategy.

Retail stores are small and not centralized. Candles are just one of their items for
sale.

→ General characteristics of domestic competitors:

The product is manufactured based on the traditional hand molding method, if

technology is applied, it does not possess modern technology and a large factory
like Quang Minh Candle. Companies that target only a specific market area (e.g.,
Northern Vietnam). The source of investment is not large, not meeting the quality
standards for export.

3
2.1.2. Competition from abroad
• China

Is the country with the largest candle manufacturing industry in the world today.
Various models, low and competitive prices.

• The U.S

The US has many strong companies in the candle manufacturing business such as
Yankee, Candle Lite…

• Other Southeast Asian countries

In Southeast Asia, the countries participating in the scented candle export market
must include Thailand and Malaysia with the advantage of having oil refineries.

2.1.3. Competition from substitute products (Indirect competitors)

In terms of decorative items, there are many. However, products that can replace
scented candles all have weaknesses that help the company exploit and devise a
competitive strategy.

The main use of scented candles is to light, decorate and deodorize. Currently the
first use (lighting) is no longer important, because the customers who need scented
candles often live in areas with adequate electricity supply. Only on rare occasions
of power outages, candles are used. On the market, we can come across many
lamps with beautiful, cheap designs and use energy from sources such as batteries
or batteries. In modern offices, in addition to the lighting system, there is always
an explosive machine in the basement, ensuring that all activities can take place
as usual in the event of a power failure.

As for decoration, there are many products with this function. However, if you
include the deodorizing function, there is not much. To deodorize, often people
will use room spray perfumes or incense. Frankincense is expensive. Meanwhile,
perfumes have potential health risks, such as allergies.
4
2.2. Market segmentation and target market selection:
2.2.1. Market Segmentation

By geographical location

• Inside Vietnam: Focus on urban areas, developed rural areas

- In rural areas that are still backward and underdeveloped, consumers do not care
about the brand or the health safety features in candle products, so Quang Minh
has no potential for product development. In these areas. Instead, Quang Minh will
focus on urban areas and rich, developed rural areas.

• Export products to foreign countries

Vietnam is a country with many Free Trade Agreements (FTAs): a total of 15

FTAs are in effect and 2 FTAs are under negotiation. This is a great opportunity
for Vietnam to expand its trade market, help Quang Minh Candle products reach
markets and reduce tariff barriers.

Quang Minh Candle with production experience and technical level has the
opportunity to export scented candles to foreign markets. Specifically: Japan,
USA, Australia...

• According to usage situation

Use candles to light: candles are lit but still ensure health safety
Using candles in religion: pagodas, churches, …
Use candles to decorate: restaurants, bookstores, hotels, …
Use candles as gifts: personal or business gifts
Use insect repellent candles: contain essential oils to repel insects
2.2.2. Target market selection

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Decide to choose: From the above segments, we have decided that the target
market is urban areas, rich and developed rural areas. And foreign markets:
America, Europe, Japan, etc.

3. Target market quantification

• In Viet Nam
Currently in Vietnam, people still have the habit of using candles. The
company determined that the Vietnamese market is very positive, the
demand is very large.
Urban population is 33,122,548 people, accounting for 34.4% of the total
population of the country. The average population growth rate of five urban
areas in the period 2009 – 2019 is 2.64%/year. Based on this ratio, by 2021,
Vietnam has about 33,122,548*(1+2.64%)2=34,894,504 people living in
urban areas. According to the General Statistics Office, the average income
per person per month in 2020 in urban areas is VND 5,538,000, the average
household expenditure nationwide is VND 2,890,000/person/month. Thus,
in 1 year, each Vietnamese citizen living in urban areas will spend:
2,890,000*12 = 34,680,000 (VND)
Let’s assume that 50% of Vietnamese people in urban areas have a need to
buy candles, and about 50% of these people have a buying action. With the
price of Quang Minh Candle products in the range of VND 30,000 to VND
1,540,000, suppose that each purchaser has a buying action to buy one or
more products with an average value of about VND 500,000. Thus, the
volume of Vietnam’s urban market is:

33,122,548*50%*50%*500,000 = 4,140,318,500.000 (VND)

Given that Quang Minh Candle has encountered competitors and the Covid-
19 epidemic situation, if only holding 10% of the market share, the annual
revenue will reach:
4,140,318,500.000*10% = 414,031,850,000 (VND)

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 Compared to the charter capital of 580,000,000VND of Quang Minh
Candle, this is an impressive revenue.
• In a foreign country
Compared to the Vietnamese market, Quang Minh Candle products face
more difficulties when exporting to foreign countries. Expected revenue of
Quang Minh Candle in 1 year in foreign markets will reach 30% of
domestic market revenue:

414,031,850,000*30%=124,209.555,000 (VND)

• In conclusion, just by properly implementing Marketing strategies, Quang

Minh Candle will achieve a total revenue of 1 year:

414,031,850,000+124,209.555,000=538,241,405,000 VND
(more than 500 billion VND)

2.3. SWOT analysis:

2.3.1 Strengths
(1) A product with a huge domestic market, with 300 supermarkets and retail
stores, as well as exports to Japan, Malaysia, the United States, and other nations.
(2) Quang Minh Candle has been one of the top choices of Vietnamese consumers
for candle goods ranging from popular to high-end for over 20 years. The
enterprise has won the title of “Most Favorite Vietnamese Brand” through the
years 2019, 2020 in the categories “Top Candle Business Brand” and “Most
Favorite Fine Art Brand” by Saigon Giai Phong newspaper, organization,
certification of high-quality Vietnamese goods voted by consumers…
(3) Raw materials and flavors are guaranteed to be pure and non-toxic to the
environment, bringing high safety to users. There are international certificates of
product safety. Not only meeting export standards to many countries requiring
high quality such as Japan, USA, Australia… the brand also meets aesthetic needs
with exquisite product design, imbued with cultural values of Vietnam.

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(4) Having a method of investigating, researching and creating new flavors that
are more and more suitable and attractive to consumers, bearing the company’s
characteristics.
2.3.2. Weaknesses
(1) Products lack industrial design protection, making them easier to imitate and
counterfeit.
(2) Potential export markets are spread out over a large area, necessitating hefty
transportation expenses.
(3) Transport and storage necessitate a tremendous deal of care and consideration.
2.3.3. Opportunities
(1) Big market, lots of potential.
(2) Domestic competitors are limited and weak, and the majority lack a clear
growth strategy.
(3) Fragrance market in general and scented candles have experienced rapid and
steady growth in recent years.
(4) Anti-dumping taxes on scented candles have been imposed on Chinese
competitors in both the EU and the United States.
2.3.4. Threats
(1) Products are easily imitated and counterfeited, necessitating the company’s
protection of its products.
(2) Climatic circumstances can have a significant impact on product quality.
(3) Imports continue to be the primary source of raw materials. This is because
petroleum is still the most common raw ingredient used to make scented candles
today. There is still no oil refinery in Vietnam. Because beeswax is both expensive
and scarce, the number of goods that use it is limited.

8
 PART 3: MARKETING STRATEGY

3.1. Marketing Strategy Goals

Make Quang Minh Candle’s scented candle products familiar to the people,
proceed to acquire the Vietnamese market and expand to the world market.
Capture a target market share in the world candle market.
Successfully positioning products and building Quang Minh Candle brand
in the target countries’ markets.
3.2. Define Marketing Strategy

With the characteristics of scented candles as an art item for occasional

consumption, and with the characteristics of selected market segmentation as well
as competitor analysis. Quang Minh Candle has decided to choose the strategy of
“Preempting the market”, with the use of the “Skim price” policy. This strategy is
chosen for two reasons:

Scented candle products are rich, unique in scent, diverse in design.

Contains many “handmade” properties to help the product have its own
unique and individual features.
3.3. Marketing strategy
3.3.1. Product strategy
• Product portfolio
Tealights – one of the high-end scented candle product lines of Quang Minh
Candle. With a dwarf candle design, mini candles are compact and simple, packed
in different quantities (box of 5, box of 10, box of 50, …) Suitable for use: Candles
for interior decoration, garden, wedding parties, .. Or as gift candles for customers,
relatives, friends, etc. Safe for health, non-irritating, non-stinging, non-cancerous.

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 Picture 1: Quang Minh’s Tealight Candle
Tapper Candle – one of the high-end scented candle product lines of Nguyen
Quang Minh. With a compact cylindrical candle design, vivid and diverse colors.
Specialized in interior decoration candles, restaurants-wedding parties, churches,
pagodas … Candles have natural essential oil ingredients, safe for health, non-
irritating.

Picture 2: Quang Minh’s Tapper Candle

Candlestick – one of the high-end scented candle product lines of Quang Minh
Candle. Candles with sophisticated and delicate design are used in interior
decoration, restaurants – wedding parties, spas, ... Featured products: Scented
candles, NQM candles, white candles, decorative candles, round candles,…
Candles contain natural essential oils that are safe for health, non-irritating.

Picture 3: Quang Minh’s Candle in a box

Candles in a box – Is one of the high-class scented candles of Quang Minh Candle.
Candles are specialized in interior decoration, garden, wedding party, spa, coffee
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shop,... Some outstanding products: glass candle, decorative candle, night light
candle, scented candle... In addition to decorative uses, candles are also used as
meaningful gift candles for customers, family, friends, etc.

Picture 4: Quang Minh’s Candle in a box

3.3.2. Product analysis
• Core benefits
A beautiful, shimmering fire light shines, a light fragrance brings a lot of joy and
creates a warm space. The room will become quieter, more romantic…
• Expected products
Quang Minh Candle tries to further satisfy the needs of customers by:
Constantly improving the quality, diversifying designs, colors and fragrances of
candle products.
Besides the main uses such as lighting and decoration, Quang Minh Candle always
researches and develops more features for scented candles such as deodorizing,
preventing mold.
• Completed complementary products
For regular customers, buying in bulk, high value, Quang Minh Candle will give
away candle bowls, candlesticks, candlesticks with a variety of designs and
models: bowls, flowerpots, cups, plates candle holder is usually made of materials
such as ceramic, crockery, porcelain, glass, stainless steel, suitable for placing in
a small corner of the living room or bedroom. Quang Minh Candle will give free
advice on how to use candles to create maximum effect, give free cards to
customers who buy candles on special occasions.
• Potential products

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Quang Minh Candle accepts orders to make candle samples according to customer
requirements, in addition, also sends staff to support to achieve greater efficiency
in the use and layout of products if customers have demand.
3.3.3. Pricing strategy
• Objectives of pricing strategy
Helped scented candle products to successfully penetrate the market,
gradually dominate the market and become a favorite brand.
Increasing market share to ensure sales target.
Strive to earn reasonable profits.
• Basis of price determination
The price must be set according to the product demand of the public.
The price should be the price that brings maximum revenue for the
company.
The price must not be too low or too high compared to the price that
competitors are charging. Otherwise, their customers won’t buy your
product.
The price should match the point of view of your target market.
The pricing strategy Quang Minh Candle uses is cost-plus pricing –
calculating costs and adding a mark-up. However, this pricing campaign
can be flexible. So, Quang Minh Candle also use Value-based pricing
strategy – setting a price based on how much the customer believes what
you’re selling is worth.
No. 1 2 3 4
Tealight
Box of OPIA Artichoke Glass
Candle
Product name Scented Flower Candle
NQM 2165
Candle Candle W9H13
box 50 pcs
Size (cm) 19x19x5.5 13,5×13,5×5,5 8x8x12 7x6,3x12
Weight (kg) 0.6 0.28 0.15 0.17
Paraffin Unit (kg) 1.1*90=99(%) 0.5940 0.2770 0.1490 0.1680

12
 Unit Price
50,000 29,700 13,850 7,450 8,400
(VND)

Unit (kg) 1.1*10=11(%) 0.0660 0.0308 0.0165 0.0187

Stearin
Unit Price
15,000 990 462 248 281
(VND)
Unit (kg) 1.1/900 0.0007 0.0003 0.0001 0.0002
Color
Unit Price
Powder 3,000,000 2,100 900 300 600
(VND)
Unit (kg) 1.1*2=2.2(%) 0.0132 0.0062 0.0033 0.0037
Flavor Unit Price
800,000 10,560 4,928 2,640 2,992
(VND)
Unit (kg) 0.020 0.210 0.140 0.150
Rushlight Unit Price
1,000 20 210 140 150
(VND)
Other Ingredients 50 50 50 50
Packaging Unit Price
10 10 20 20
(Shrink film) (VND)
Carton packaging Unit Price
600 300 600 500
(Box, cover) (VND)
Unit Price
Stamp 250 250 250 250
(VND)
Gross Raw Materials Cost 44,280 20,960 11,698 13,243
Ratio of Raw Material Cost per Production
63.17 52.57 32.74 41.00
Value (%)
Candle Molds (VND) 350 350 350 350
Finish (VND) 2,214 2,214 3,496 3,496
Labor
Gross Labors Cost (VND) 2,564 2,564 3,846 3,846
Cost
Ratio of Labor Cost per
4 6 11 12
Production Value (%)
Container (VND) 22,500 16,000 20,000 15,000
General Production Cost (1.250VND/kg) 750 350 188 213
Production cost Ratio (%) 1 1 1 1
Production cost 70,094 39,874 35,732 32,302
Ratio of Production Value per Total Value (%) 59 62 69 65
Administrative Cost (1.900VND/kg) 1,140 532 285 323
Selling Cost (300VND/kg) 180 84 45 51
Interest (600VND/kg) 360 168 90 102

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 Gross Indirect Costs 1,680 784 420 476
Ratio of Indirect Cost per Total Costs (%) 1.42 1.22 0.81 0.95
Total Costs 118,618 64,182 51,695 49,866
Price 150,000 425,000 166,000 244,000
Commission for Salesman (5%) 7,500 21,250 8,300 12,200
Commission for Store (15%) 22,500 63,750 24,900 36,600
Reward/Loss 1,382 275,818 81,105 145,334
Reward/Loss Ratio (%) 0.92 64.90 48.86 59.56
Taxable Price of Value Added Tax 165,000 467,500 182,600 268,400
Table 1: Table of production cost breakdown of four typical of candles

3.3.4. Distribution strategy

The company’s distribution strategy is a selective distribution strategy that

develops relationships with selected intermediaries and expects better-than-
average sales efforts. Selective distribution allows Quang Minh Candle to capture
a large market share with greater control and lower costs than centralized
distribution.
The distribution intermediaries will be mainly stores and agents in major
commercial centers in Japan such as Ginza Mitsukoshi, Daimaru Tokyo, etc. The
distribution system for Quang Minh Candle will include a distribution system. Mix
of Vietnamese and indigenous people.
Besides the Showrooms with the purpose of promoting sales and consulting
directly to customers, Quang Minh Candle also uses another information channel,
the Internet. Register to own and design websites with domains:
www.quangminhcandle.com
www.quangminhcandle.vn
aimed at:
Provide the most up-to-date, detailed information on models, usage…
Facilitation of online orders.
Promote company brand.
3.3.5. Marketing communication strategy

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 3.3.5.1. Purpose
Save, promote sales, gradually create a habit of using scented candles more
often.
Create a competitive advantage for the company: create a comfortable
mood of buyers for the product.
Amplify the brand, convey the most complete information to consumers.
Successfully positioning the product in the mind of the customer.
3.3.5.2. Strategy
Quang Minh Candle decided to use a pull strategy to influence each target
customer group. Using tools of business promotion and support policies to directly
influence consumers to make consumers have an impression and confidence in
scented candle products and find the intermediary components of the distribution
channel to buy products that satisfy their needs.

Producer Business man Retailer Consumers

Picture 5: Marketing Communication Strategy

• Advertising media
On Internet (Video on Facebook fan page, Instagram):
Today, people are almost dependent on social networks. And they are willing to
spend many hours on social networks. Therefore, Quang Minh's marketing is
carried out by making sparkling, attractive candle advertising videos and posting
them on the internet - where the number of viewers is increasing.
• Internet advertising
At the company's homepage with the domains:
www.quangminhcandle.com
www.quangminhcandle.vn
Register at search websites, especially those related to interior decoration.

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 • Promote sales and marketing
Commercial marketing
Quang Minh Candle targets distributors and retailers of products to create a
distribution channel, with the goal of:
Persuading retailers to accept Quang Minh Candle’s products
Encourage retailers to give Quang Minh Candle's products more favorable
positions on the counter or to be more interested in selling products.
Marketing to consumers
For mini-size scented candles, the policy of buying in combos of 10 pieces
is 10% off or buy 10 get 2 free. For products valued at over 300,000 VND
when buying, customers are given a candle holder, candle holder and a gift
box. postcard number, manual.
In addition, to create the most convenience for consumers, Quang Minh
Candle accepts all types of credit cards currently circulating in the world:
Visa Card, Master Card, Credit Card, JBC, ...
Public Relations
Participate in charity donation programs at home and abroad, ethnic cultural
events.
Through customer conferences, Quang Minh Candle encourages customers
to talk about the advantages and disadvantages of products, problems in
buying and selling, product requirements, ... and through this event the
public The company also publishes its projects and policies.

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 PART 4: ACTION PLAN AND CONCLUSION
4.1. Action plan for the first year:

Budget
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec KPI
(VNĐ)
Digital
Marketing
The
number of
users who
interest at
Facebook Ads 150000000
least 10%
base on
users
reached
The
number of
users who
interest at
Instagram Ads 128000000
least 10%
base on
users
reached
Customers
from
google
Google AdWords 50000000
search
increased
20%
Purchase
rate
SEO 150000000
increased
20%
Reaching at
Video production least
600000000
agency 1.000.000
people
Direct
Marketing
Ratio of
orders at
Email Marketing 40000000 least 10%
number of
reached
Ratio of
orders at
Telemarketing 50000000 least 10%
number of
reached
Content
Create familiarity
of brand identity
and image of

17
Quang Minh
Candle in
customers' mind
Create coverage
on social
networks.
Increase customer
engagement.
Create dynamism
for the fan page
with some video
content to
introduce
products more
intuitively.
Introducing
Quang Minh
Candle's scented
candles
Video to
introduce
products more
intuitively:
instructions on
how to preserve
Quang Minh
Candle's
products, talk
about the story of
finding materials.
Videos and
articles about the
story of building
a brand
Videos and
articles about the
spiritual and
health value that
scented candles
bring.
Introducing
offline events
Notification of
offline events.
Promotion
announcement
Totals 1168000000
Table 2: Action Plan

4.2. Concluding
4.2.1 Marketing plan summary

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Quang Minh Candle products choose to approach consumers in the gentlest and
most profound way. The concept is the light floating smoke, flickering under the
soft light of the candles, carrying a faint scent that makes people remember long
enough. The content told in each story will stimulate the senses gently but deeply.
A mysterious art of smoke. Around that smoke concept are health messages, brand
stories, spiritual values, etc. that Quang Minh candle wants to convey to
consumers.

4.2.2. Further control and growth plan

Control Plan

Control Plan Number: 001-MP Key Contact/Phone Date (Orig.) 1/1/2021 Date (Rev.) 12/25/21

Part Number/Latest Charge Level Core Team: Minh Man, Thu Ky, Cat Tuong Customer Engineering Approval/Date N/A

Part Name/Description: Aministration team, Media team, Production

Organization/Plan Approval/Data: Nguyen Quang Anh Customer Quality Approval/Date N/A
team

Organization/Plant: all Organization Code: N/A Other Approval/Date: January 2021 Other Approval/Date N/A

MACHINE, METHODS
PART/ PROCESS NAME/ CHARACTERISTICS SPECIAL
DEVICE, PRODUCT/PROCESS EVALUATION/ SAMPLE CONTROL
PROCESS OPERATION CHAR, REACTION PLAN
JIGS, TOOLS SPECIFICATION/ MEASREMENT METHODS
NUMBER DESCRIPTION NO. PRODUCT PROCESS CLASS SIZE FREQ.
FOR MFG. TOLERANCE TECHNIQUE
The component Ingredients are precisely Re-inspect all product since
Control the quality Standard Checked, components
1 1D Candle wax ratio meets RAL- P dosed according to the 400 tons Daily Error proofed last inspection and rework if
of wax check Lab must not be wrong
GZ041 standard available recipe needed
Develop a tool for A.I platform Access
3 2D Processing M N/A Daily 100% monitoring None required
control page access on website control
Must not let customer wait
Answer customer's Social media Speed up response too long for respond, at least
4 3D N/A N/A M Check 3 times a day N/A Hourly
message or email platform time 5 mins since customer sent
messages

Table 3: Control Plan

Picture 5: Growth Plan for the next five years

19
 DOCUMENTATION
Thanh Phuong. (January 2021). Vietnam actively participates in the signing of
FTAs, opening up many opportunities for socio-economic development. Thai
Binh portal. https://thaibinh.gov.vn/chuyen-trang-chuyen-muc/asean/viet-nam-
tich-cuc-tham-gia-ky-ket-cac-hiep-dinh-fta-mo-ra-nh. html
General Statistics Office. (April 2021). Preliminary results of the 2020 population
living standard survey, https://www.gso.gov.vn/wp-content/uploads/2021/05/Ke
t-qua-so-bo-KSMS2020.pdf
Dat, Tam, Ha & Trang. (September 2018). Description of the supply chain of
Nguyen Quang Minh Candle Co., Ltd. University of Economics - University of
Da Nang. p. 3

20
 APPENDIX

1. Forecasting Expenses

In the context of the epidemic and travel restrictions, we tend to use social
networks more, especially in urban areas. To seize this opportunity, we need to
promote advertising on social networking platforms, namely Facebook,
Instagram, Tiktok.

Plan for the fist year

Milestones Start End Budget Manager Department
Marketing plan Man, Ky,
- January 20.000.000₫ Marketing
completion Tuong

Social media
January May 50.400.000₫ Thu Ky Marketing
advertising

Social media
January December 12.000.000₫ Man Marketing
management

Design & create

contents on social January December 20.000.000₫ Tuong Marketing
media

Totals 102.400.000₫
Table 3: Forecasting Expenses
2. Sale Forecast
With the goal of selling 400,000 candle products in the first year, if the
average consumer pays VND 206,250 each time they buy candles, that is,
a revenue of at least VND 82,500,000,000 must be achieved.
Since the sales department is invested in advertising budgets to reach users
in the January-May period, the revenue must be 1.25% higher than the
months without advertising budget support.
The last two months of the year are the time of festivals and tourism, the
revenue of these two months must be equal to the first five months of the
year.

21
 Miss Candle is Quang Minh Candle's main product line, so the proportion
of sales of this product line must remain at 40%, while other candle lines
can be at 20%.

Lucky Prayer Miss Candle R.I.D Viet Candle Total

Jan 1.500.000.000đ 3.000.000.000đ 1.500.000.000đ 1.500.000.000đ 7.500.000.000đ
Feb 1.500.000.000đ 3.000.000.000đ 1.500.000.000đ 1.500.000.000đ 7.500.000.000đ
Mar 1.500.000.000đ 3.000.000.000đ 1.500.000.000đ 1.500.000.000đ 7.500.000.000đ
Apr 1.500.000.000đ 3.000.000.000đ 1.500.000.000đ 1.500.000.000đ 7.500.000.000đ
May 1.500.000.000đ 3.000.000.000đ 1.500.000.000đ 1.500.000.000đ 7.500.000.000đ
Jun 1.200.000.000đ 2.400.000.000đ 1.200.000.000đ 1.200.000.000đ 6.000.000.000đ
Jul 1.200.000.000đ 2.400.000.000đ 1.200.000.000đ 1.200.000.000đ 6.000.000.000đ
Aug 1.200.000.000đ 2.400.000.000đ 1.200.000.000đ 1.200.000.000đ 6.000.000.000đ
Sep 1.200.000.000đ 2.400.000.000đ 1.200.000.000đ 1.200.000.000đ 6.000.000.000đ
Oct 1.200.000.000đ 2.400.000.000đ 1.200.000.000đ 1.200.000.000đ 6.000.000.000đ
Nov 1.500.000.000đ 3.000.000.000đ 1.500.000.000đ 1.500.000.000đ 7.500.000.000đ
Dec 1.500.000.000đ 3.000.000.000đ 1.500.000.000đ 1.500.000.000đ 7.500.000.000đ
82.500.000.000đ
Table 4: Sale Forecast
3. Profit Forecast

Profit Forecast
Revenue unit: 1.000.000VND
Miss Candle 33.000
Lucky Prayer 16.500
All products
Viet Candle 16.500
R.I.D 16.500
Gross revenue 82.500
Cost of goods sold
Parafin 58.200
Stearin 20
Raw Materials Color Dye 15.000
Flavor 120
Rushlight 500
Labor cost 3.000
Cost
Production cost 800

22
 Indirect cost 2.000
Gross Cost of goods sold 63.500
Gross Profit 19.000
Operating expenses 1.700
Selling expenses 1.800
General & administration expenses 2.400
Interest expense 1.700
Profit before taxes 11.400
Income taxes (20%) 2.280
Profit after taxes 9.120
Deduct funds 840
Remaining profit 8.280

Table 5: Profit Forecast

23
 MEMBER'S GROUP WORK ASSESMENT

NO. NAME CODE WORK PROGRESS

PART 1: COMPANY INTRODUCTION
PART 3: MARKETING STRATEGY (Marketing strategy
Phan Gia
1 1921003892 goals, Define Marketing Strategy, Pricing strategy, Product 100%
Cát Tường strategy)
PART 4: ACTION PLAN AND CONCLUSION (Action
plan for the first year)
PART 2: MARKET RESEARCHING
PART 3: MARKETING STRATEGY (Pricing strategy,
2 Lý Thư Kỳ 1921000880 100%
Distribution strategy, Marketing communication strategy)
Synthesis and format
PART 3: MARKETING STRATEGY (Pricing Strategy)
PART 4: ACTION PLAN AND CONCLUSION
Trương (Concluding, Marketing plan summary, Further control and
3 1921000917 growth plan) 100%
Minh Mẫn
APPENDIX
DOCUMENTATION

24
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