Professional Documents
Culture Documents
Bài Kthp Mar Quốc Tế
Bài Kthp Mar Quốc Tế
Bài Kthp Mar Quốc Tế
Branch: Marketing
Major: International Marketing
Group members: Lưu Thị Phương
Mai Thành Lực
Đoàn Trần Phú Khang
Nguyễn Đặng Bạch Linh
Class: CLC_19DMA04
i
5.2 Targeting:.....................................................................................................14
5.3 Positioning....................................................................................................14
6. Market Entry.....................................................................................................15
7. International Marketing Goals and Objectives...............................................15
7.1 Marketing goals...........................................................................................15
7.2 Marketing Objectives..................................................................................15
7.3 Marketing Mix.............................................................................................16
8. Marketing Program...........................................................................................32
9. Evaluation, Measurement, Control..................................................................37
9.1 Evaluation....................................................................................................37
9.2 Measurement................................................................................................38
9.3 Control..........................................................................................................39
9.4 Risk for entrying US market.......................................................................40
List of Reference......................................................................................................a
Appendix.................................................................................................................. b
ii
List of abbreviations
Abbreviation Mean
CSAT Customer Satisfaction Score
CES Customer Effort Score
CAGR Compounded Annual Growth Rate
ISO International Organization for Standardization
ERM Enterprise Resource Planning
NPS Net Promoter Score
ROS Return On Sales
ROA Return on Assets
ROI Return on Investment
iii
List of Tables
List of Figures
Figure 7.2: The relationship between price and demand for coconut water in the
US market ........................................................................................................19
iv
1. Executive Summary
The first five-year plan to penetrate the US market is divided into two main
phases: the first two years and the next three years to target the three states with the
largest number of Asians living in the US, California, Texas, and Florida.
2. Situation Analysis
2.1 Product introduction
Vinamilk is the largest and most prestigious dairy joint-stock company in Vietnam
market. Vinamilk offers many different products: liquid milk, yogurt, soft drinks...
In which CocoFresh is a product in Vinamilk's Vfresh beverage category.
CocoFresh, even though it was just launched in 2019, has gained a certain foothold
in the canned coconut water market in Vietnam, loved by many for its fresh and
nutritious taste that provides many good minerals for the body. In the future, Coco
1
Fresh has a lot of potential to develop in the domestic market as well as expand to
the international market.
Vietnam is the sixth largest coconut grower in the world, with more than 1.3 million
tons of coconuts produced each year. According to the Department of Crop
Production, the area of coconut cultivation in Vietnam is about 175,000 hectares, of
which, Ben Tre is the province that accounts for nearly half of the total coconut area
in the country, with an expected annual coconut harvest of more than 520 million
fruits. according to statistics of the Ben Tre Coconut Association).
Infrastructure resources
Vinamilk has invested more than 6,500 billion VND from its own capital to invest
in building many factories with high automation level on par with the region and the
world. Vinamilk's factory is equipped with modern production lines and leading
advanced production technology today, the factory operates on an automatic, closed
line, from input to output. product.
Export experience
With more than 20 years of bringing Vietnamese dairy products to the world.
Currently, Vinamilk has exported its products to 43 countries around the world.
With products that meet international standards, understanding the market,
consumers and prestige are the factors that bring Vinamilk to success in the
international market.
=> Stable supply, along with modern super factories and experience in the
international market, Vinamilk's CocoFresh products are fully capable of supplying
as well as exporting to the most demanding markets today.
The global packaged coconut water market is valued at $2.68 billion and CAGR is
24.2% during the forecast period 2020-2027. Americas dominates the market at a
2
CAGR of 23.9% during the forecast period. The global coconut water market size
will reach 14.10 billion USD by 2027.
Increasing health and nutrition awareness is increasing the demand for packaged
coconut water over the years. According to Statista's report, global consumption of
coconut water has reached 3.9 billion liters in 2019 and will grow at a rate of 25.4%
until 2020. The US, Canada, and Japan are the markets. largest consumer of canned
coconut water in the world.
The United States is the country with the largest economy in the world with a gross
domestic product of over 14 trillion USD/year, also one of the richest economies in
the world with an average income of over $47,000/person. /year. At the same time,
the US maintains free trade relations with many countries around the world and
trade turnover reaches 5 trillion USD.
With 310 million people and an average household income of more than 50,000
USD/year, the United States is a market that is considered to be the starting place of
consumer trends such as the consumer industry, fashion, technology, etc. In
addition, the US is the world's largest coconut water consumption market with the
consumption of 500 million liters of coconut water in 2020. Therefore, this is a
potential market that CocoFresh will penetrate.
- Vision: To become the leading symbol of belief in Vietnam about nutrition and
health products serving human life.
- Mission: Vinamilk is committed to providing the community with top quality and
high-quality nutrition with its own respect, love, and high responsibility for human
life and society.
- Target:
3
+ Leading in innovation with high applicability.
Financial strength:
Material resources:
+ Danish production lines with advanced technology from Europe, UHT, and
ACP sterilization systems are capable of providing the market with an output of
coconut milk up to more than 10 million liters per year.
4
+ Owning a system of machines using spray drying technology made by Niro
of Denmark
Human
+ The company has a team of enthusiastic and experienced key staff in the
industry.
+ Vinamilk also has a research and development team that always researches,
researches and develops new products to meet market needs.
Vinamilk continues to research and develop many new products with the aim
of improving, expanding, and diversifying the product portfolio on the basis of
5
suiting the tastes and needs of consumers; at the same time brings consumers a rich
and convenient experience.
4.1 Microenvironment
4.1.1 Customers
4.1.2 Supplier
Materials
Vinamilk's raw materials have continuously increased rapidly over the years.
To serve this demand, on the one hand, the company has actively invested in
6
industrial-scale farms, on the other hand, has continuously increased the purchasing
and development of raw materials of coconut and fresh milk from households.
Vinamilk strengthens the localization of raw materials for its products.
Distribution intermediaries
Financial intermediaries
Support intermediaries
The warehouse system has many warehouses with two warehouses: Ho Chi Minh
City Logistics Enterprise and Hanoi Logistics Enterprise. Invest in more than 300
small trucks for distributors. Having a system of refrigerated trucks to transport
coconuts is a competitive advantage compared to competitors.
Production intermediaries
Provide packaging by Perstima VietNam Co., Ltd., Tetra Pak, Asia Company, and
other suppliers of sugar, flavorings, and accessories.
Advertising agencies play a very important role in promoting the company's brand.
When the relationship with these companies is not good, it will be detrimental to
Vinamilk in promoting products to consumers.
4.1.4 Competitors
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Direct competitor
Indirect competitors
Products from coconut water are subject to many threats from substitute
products such as pure pressed fruit, detox water,...
Geographical location
Climate
In general, much of the north and east has a temperate continental climate,
with warm summers and cold winters. Much of the south has a humid subtropical
climate – with mild winters and long, hot, and humid summers.
8
The United States is a country with advanced technology, so it is easy to
check the quality of all products quickly and accurately, so Vietnamese exporters
need to be very careful not to be suspended from importing and not being
"distrustful" to customers.
The United States has the largest economy in the world, is the largest
importer, and is also the second-largest exporter. In the estimate of Gross Domestic
Product (GDP) in the third quarter of 2020, the US Department of Commerce said
that the GDP of the country had a growth rate of 33.4. Consumer spending, which
accounts for more than two-thirds of US economic activity. The United States
accounts for 24.8% of the world's GDP. The average income is high, so spending on
consumer products is high. In addition, the developed economy and advanced
9
scientific and technological applications have created many great opportunities for
the expansion of international business methods in the US with other countries.
10
4.4 SWOT Analysis
Strength Weakness
- Strong brand with a long history - Not active in the source of raw materials
- High product quality and variety - Some customer care services are not
effective
- Wide distribution network (64
provinces) - The product has not enough potential
compared to competitors
- Invest in modern and high-quality
equipment and technology
- Supply of high-quality raw
materials
- Financial strength
- Experience in exporting to many
countries including the US
Opportunity Threat
- The trend of healthy living, the use - High number of competitors
of natural products has increased
- High input cost
- Large Vietnamese community in
- The impact of the world economic crisis
the US
- The mechanisms, policies, and
- Vietnam joins international trade
administrative procedures are
associations leading to an easier
cumbersome and complicated
export market
- The economy is highly open
=> After analyzing internal and external factors, market characteristics show that
Vinamilk has enough resources to export CocoFresh to the US market.
11
5. Target Market Description
5.1 Segmentation
Sex
LGBT LGBT LGBT LGBT LGBT
12
Dynamic, Dynamic, Dynamic, The office,
Modern, full Modern, full Modern, full bustling with
of energy of energy of energy work, often Dedicated to
ready to try ready to try ready to try lives in a work, modern
new things. new things. new things. hurry, work and precise /
Little care Little care Care more duties, and
about the about the about health new Spend more
Psychology
Occasio Mainly buy in Mainly buy Mainly buy in Mainly buy Mainly buy in
ns summer in summer summer in summer summer
B
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group celebrities celebrities celebrities colleagues
Frequen
cy of Light Light Medium Heavy Heavy
buying
5.2 Targeting:
Cocofresh specifically targets people over 19 years old. Because:
Demographics: Have a suitable financial income - medium to high
Psychology: They are health-conscious, preferring to use natural products
than other segments.
Behavior: This segment has high purchasing power. The loyalty is medium -
high. They are people looking for great, fresh and healthy fruit drinks. Price
sensitivity is not high.
Therefore, CoCoFresh has chosen this segment. The purpose of CocoFresh is
reponse those specific needs of these specific customer groups.
5.3 Positioning
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CocoFresh will position itself as a quality but cheap coconut water product
suitable for a large number of consumers. CocoFresh is made from the freshest
ingredients with rich vitamins, minerals, and nutrients. We are committed to
maintaining quality and cost from the beginning to the end of the production
process so that we can provide the freshest coconut water at a cheap price to our
target customers.
6. Market Entry
Vinamilk implements a direct export method. This is a method of market
penetration that is often used by developing countries in the world, to bring their
products to penetrate the world market through direct export.
Developing market share in the US in the first 5 years are 3 states of California,
Texas, and Florida.
The first 2 years: accounted for 2% market share of canned coconut water
consumers. Next 3 years: Increase market share by 4%.
Revenue Objectives:
15
In California: $3,559,200 in revenue
Promotional Objectives
Loyalty Objectives:
Product levels:
16
Generic Various flavors: natural, pineapple coconut, and lotus coconut.
Product
Capacity: 330ml for instant drink consumers; 1L for families,
restaurants, or customers who have a habit of hoarding:
Ingredient:
Carbohydrate: 4.0 g
Protein <0.5 g
Fat <0.5 g
Color: Transparent
Texture: Liquid
Potential Add new coconut water flavors such as orange coconut, collagen
Product coconut,... CocoFresh's creative packaging program.
17
Figure 7.1: Product line and product mix of CocoFresh
Packaging:
Logo: Eye-catching, dynamic with green coconut shape, white and blue
CocoFresh text
Symbol: Coconut
Trademark: CocoFresh
Protect the core product: The product is contained in a paper box packaging,
inside is a specialized PE plastic layer, sealed, ensuring food safety and
hygiene requirements.
Auxiliary:
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Warranties: There is a policy of compensation or product renewal if the
product is defective on the manufacturer.
Pricing Target
Pricing Strategy: The strategy to penetrate the market price is the appropriate
strategy to bring products CoCoFresh joined the new market.
Price adjustment: After achieving a certain market share. The Company may allow
price increases depending on the situation and the elasticity of supply/demand in the
next years.
The demand of customers: The US is the largest market for canned coconut
water in the world with 500 million liters (According to Statista report, 2020).
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Determine demand: A survey of 1,000 Americans surveyed about the price
they are willing to pay for 1 liter of canned coconut water has the following
results:
Figure 7.2: The relationship between price and demand for coconut water in
the US market
Competitor Price: Our company will be priced below the industry average
to increase the competitiveness of products. In the US, canned coconut water is
sold at an average price of 5 USD/liter.
Desired profit: Desired corporate profits 40%
After analyzing the above factors and applying a more psychology-based pricing
strategy.
Pricing Method: Pricing according to competitor's price
From the above analysis, Vinamilk decides the product price as follows:
=> Retail price to end consumer: 330ml is 1.49 USD, 1l is 3.99 USD. If you
compare the price with quality products like CocoFresh, this is the suitable price.
Another case is that the prices of products through the distribution channels and
directly at the stores will remain the same as those at the official CocoFresh stores.
This will increase the competitive advantage and attractiveness of the product to the
target market. Therefore, the company needs to work with distributors to balance
the discount rate for CocoFresh members to ensure profits for partners.
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International Pricing Discount.
Seasonal Discount: In winter (February 12) and autumn (November 9), customers
will get an additional 2% discount.
Quantity Discount: For intermediary distribution channels, the company will have
a policy discount if buying in large quantities. 2%-5% more than the basic discount.
Early Payment Discount: The distribution channels are on time according to the
contract and enjoy a payment discount of 1.5% of the total payment value.
Other Channel Discount: Distributors Level 1: 10%, distributor level 2: 5%
Price changes in International Market: In the future prices may change, increase
or decrease, because of factors such as changes in production costs, changes in tax
regulations, or exchange rates. The company needs to consider methods to avoid
customer dissatisfaction.
Distribution target
Distribution strategy
Use mass distribution strategy because this is a strategy to reduce costs for
the manufacturer, so the manufacturer prioritizes developing as many intermediaries
as possible, especially finding ways to increase the number of retailers to have
reached as many customers as possible.
Combine both Push distribution and Pull strategies for CocoFresh products
depending on each stage of development
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Product distribution in the target markets of Texas, California, and Florida.
Actively create relationships with distribution channels in the US, increase
discounts. Use advertising services, promotions, .. to attract customers.
Channel structure
- Direct marketing
The US direct selling market (USA) is currently the largest direct-selling market in
the world. This leads to many advantages for Vinamilk's CocoFresh products when
entering the US market in many ways such as: selling directly through the
company's website or social media platforms, creating promotional emails.…
22
- Indirect marketing
Selling products through major supermarkets (Trader Joe's, Walmart, Sam's Club,
Costco), convenience stores in the US (Circle K, GS25, FamilyMart, 7-Eleven,
Cheers), stopovers, and Asian markets ASIAN.
Physical distribution
Material handling
Cargo will be from Can Tho international port to Houston, Texas international port.
Inventory location
The warehouse system in Texas is cheaper than in other states because it is located
in a convenient central location for transportation.
Inventory control
Determine the maximum and minimum inventory levels for each material/
commodity.
Order processing
Methods of transportation
From the US to agents: the most popular form of road transport, Vinamilk will
choose to transport goods via road because this is the most optimal form of
transportation in the US.
Advertising purpose:
- Promoting intend to buy and experience Fresh Coco coconut water consumers
(target customers).
Advertising objective:
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- Increase awareness of CocoFresh products by 50% in 5 years.
Brand association:
CocoFresh decided to advertise on 2 channels: online and offline. With the video
view rate of consumers now increasingly high (77%) so Vinamilk decided to launch
promotional clips viral video marketing is found on the ads on TV, online ads, and
TV ads in States.
25
Table 7.1: Stages of Advertising
• Google Adwords
• Advertising Fanpage
Offline advertising:
Television advisement:
26
Channel selection: Based on the number of viewers and the viewer segment,
decided to add channels are the CBS program The Late Late middle with James
Corden Show.
The reason for choosing these universities is because these are the schools
with the most Asian students, especially Vietnamese students.
At Vinamilk stores:
Online advertising:
About the website: the choice of news about websites based on target customers and
marketing goals is Everydayhealth.vn and BBCfood.vn on social networks, choose
2 channels Facebook and Instagram.
Newspaper Online
28
Social network :
Facebook Ads.
Instagram Ads
29
Description Week quantity Unit The amount of
interaction
Sale Promotion
Online: Affiliated with 2 leading retailers in the US Amazon and eBay. Promotion
on major holidays of the year in the US.
30
Amazon Prime Day 21/7-22/7 15% off total bill
Major US holidays:
Table 7.6: The sale offline day
31
For example the 40th anniversary
Like Vietnamese, Chinese and Indian streets: Promotions will be carried out on
their major holidays such as:
o VietNam Tet, Chinese Tet: We will discount 10% off the total bill and give
Red Envelope when they buy 4 products
o Diwali of Indian: Discount 10% off total bill and give a small red tea light
for customers buying 4 products.
Public Relations.
- Scholarship funding.
Sponsor scholarships for universities in California, Texas, and Florida with many
Asian students:
o University of California
o University of Southern
o University of North Texas
- To celebrate the festival.
o Organize a contest to cook Caramelized pork and eggs at Little Saigon on
the Tet holiday.
o Organize a contest to cook crawfish with coconut water in the summer of
Texas.
o Participating in and sponsoring food festivals such as the Florida seafood
festival
- Writing PR articles: For articles about the benefits of drinking coconut water to
cool down in the summer.
- Influencer:
32
o Chloe Ting is a famous Asian Influencer in the US in the field of
health and beauty.
o Cooking for Real của Sunny Anderson.
Action Plan
First 2 years
Months 1 2 3 4 5 6 7 8 9 10 11 12
The First
Year Vinamilk website posted 5/5/2022
new product announcements
Everydayhealthy.vn post
15/6/2022
product news
33
Displaying product
advertisements at retail
outlets (Walmart, Subway, 1/7/2022
Walgreens, ..)
Online Advertisement
(Amazon, Ebay,...) 1/7-22/7
15/3/2023-
30/5/2023;
Advertising on Frame
screens in elevators, waiting
halls, university canteens.
5/9/2023-
23/11/2023
34
Free trial products at
1/6-3/6
universities in California
Grant scholarships to
valedictorian graduates at 1/8/2022
universities
BBCfood.vn post
20 – 23/11/2023
avertisement
Advertisement at CBS
23/11/2023
channel
Advertise products on
Vinamilk's main website,
2022-2023
fanpage (Facebook,
Instagram, Tiktok, ..)
Months 1 2 3 4 5 6 7 8 9 10 11 12
35
Email to customers product 4/1/2024
information
36
Advertiseting on The Late 1/7 -31/7/2025
Late Show
37
canteens.
After each marketing campaign, whether the number of customers buying goods of
the business increases, how much % increase, the number of customers buying
during the campaign period, the number of new customers, ... is what the business
industry needs attention.
Salesperson's feedback
Customer satisfaction
38
Surveys of customers in distribution channels about specific aspects of the
company. Follow up, pay more attention to the needs arising in the buying process
and the psychology of customers. Assess customer satisfaction or loyalty to
businesses through important indicators NSP, CSAT, CES...
Profit
Evaluating the profit-based factor will give us an overall view of the most optimal
orientation for non-profitable plans, have an overall view, and easily compare the
effectiveness of strategies.
9.2 Measurement
Measurement-based on revenue
Sales can be measured in units sold, revenue generated, or the amount of profit.
- Measurement is done through the market survey or at the point of sale with
the support of retail partners.
- Actual sales in the target market are compared with the marketing plan's
projections to see if any changes need to be made.
- The number of customers who buy in a day, a week, a month, and a year
after marketing.
Salesperson's feedback
Calculation: divide the number of satisfied sellers by the total number of surveyed
sellers
Customer satisfaction level
Measuring customer satisfaction is a way for businesses to expand their
markets and increase the number of customers. The following metrics are measured:
- Net Promoter Score (NPS) is one of the indicators to measure customer
loyalty and sympathy for products/services.
- Customer Satisfaction Score (SCAT) is an index of customer satisfaction.
- Customer Effort Score abbreviated CES is the customer effort index.
Profit-based measurement:
39
- Profit after tax on sales (ROS): Indicates how much profit after tax is earned
by a dollar of net sales that a business makes in the period.
- Return on Assets (ROA): This shows how much profit each dollar invested
in an asset generates before interest and taxes.
- Return on Investment (ROI): This shows how much profit a dollar of
investment will generate after-tax.
9.3 Control
Revenue: Summarizing revenue, implementing plans to check and evaluate
business performance regularly; collect information about legal obligations that
affect business operations; internal control, risk assessment; check the correctness
of the period; summarizing and presenting sales transactions with related parties;
Find out the causes affecting the revenue, provide reasonable and timely solutions.
Principles of optimal profit control: Cash flow plan, revenue, and
expenditure balance, return of investment capital (investment expenditure and ROI);
It is clear between the revenue and expenditure of the investment project and the
expenses for regular production and business activities to be able to evaluate the
investment efficiency as well as the profit of the enterprise. To control profits
CocoFresh needs:
- Evaluate the overall performance of the profit center.
- The results of the profit center are related to the revenue and cost centers.
- Detecting positive and negative factors affecting profits.
Customer satisfaction
You need to ask the right people questions. Finding someone to judge
requires a compromise that focuses on one person – making the important decisions.
The customer in the client list will be a candidate selected for an interview.
New product development
The company needs to closely monitor the process of developing new
products through revenue, profit, customer satisfaction, etc. to make appropriate
strategic adjustments.
40
9.4 Risk for entrying US market
41
List of Reference
a
Appendix
Financial papers and Expense Budget
Section Work Number Unit Unit Cost Note
quantity price
TVC 1 TVC 30,000 30,000 Includes:
Offline script,
advertisem actors,
ent equipment,,
technical
support,...
Design web 1 Month 25000 25000
Content 10 Content 100 1000
Banner 100 Banner 45 4500
Everydayhealthy 1 Week 2000 2000
Online .vn
advertisem Youtube ads 1 Click 0,25 3500
ent
Facebook ads 40 Post 20 800
page post
engagement
b
technical
support,...
c
Process 10000 10000
evaluation
TVC 1 TVC 30,000 30,000
Offline Content 10 Content 100 1000
advertisem Banner 100 Banner 45 4500
ent Billboard 4 Months 3000 12,000
Electrical banner 4 Months 1500 4500
Take part in food 3 Day 100 300
feast
The Advertise BC 1 Week 1000 1000
third Online food
year advertisem Maintaining 1 Time 1000 1000
ent Web
Youtube ads 50000 View 0.08 4377.8
9
Facebook ads 40 Post 20 800
page post
engagement
d
Other price Market research 50,000 50000
Process 10000 10000
evaluation
TVC 1 TVC 30,000 30,000
Offline Advertisting The 3 Months 75000 200000
advertisem Late Late Show
ent Content 10 Content 100 1000
Banner 100 Banner 45 4500
Billboard 4 Months 3000 12,000
Electrical on 4 Months 1500 4500
railroad
Join the food 3 Day 200 600
The festival
fourth Advertisting on 1 Week 1000 1000
year Online Appétit
advertisem Maintain Web 1 Time 1000 1000
ent Youtube ads 50000 View 0.08 4377
e
Scholarship 3 5000 15000
Other price Market research 50,000 50000
Process 10000 10000
evaluation
TVC 1 TVC 30,000 30,000
Offline Advertise on 1 Month 300,00 300,00
advertisem CBS 0 0
ent Advertise on 1 2000 2000
Gather Journal
The fifth Content 10 Content 100 1000
Banner 100 Banner 45 4500
year Frame Screen 20 Frame 200 4000
screen
Electrical on the 4 Months 1500 4500
railroad
Food festival 3 Day 200 600
Mataining Web 1 Time 1000 1000
Online Youtube ads 50000 View 0.08 4377.8
advertisem 9
ent Facebook ads 40 Post 20 800
page post
engagement
g
INDIVIDUAL CONTRIBUTION FORM
Module: International Marketing (IM)
Everyone in the group contributes and participates fully in the group's online
meetings, has a positive, cooperative attitude and contributes to the group's final
essay. Complete assigned tasks.
Contribution
Group member’s name Student’s Code
evaluation
Luu Thi Phuong 1921005610 100%
Mai Thanh Luc 1921005514 100%
Doan Tran Phu Khang 1921005458 100%
Nguyen Dang Bach Linh 1921005492 100%