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Executive Summary

Coca-Cola, a global beverage giant, introduces a multifaceted Tet campaign for 2024 in
Vietnam, blending tradition and innovation. Strategically targeting the 25-34 age group, the
campaign employs a 'Pull,' 'Push,' and 'Profile' strategy, incorporating cultural symbolism,
influential KOLs, and interactive events. The media mix includes TVC, social media, and
billboards, ensuring widespread reach. The three-week campaign celebrates Tet, fosters brand
loyalty, and contributes to societal well-being. Coca-Cola's adaptability, brand strength, and
commitment to community engagement position it as a dynamic and enduring force in the
Vietnamese market.

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Table of contents

Executive Summary 1
Table of contents 2
1. Introduction 3
2. Context analysis 4
2.1. Customer context 4
2.2. Business context 5
2.2.1. Internal context 5
a. Coca Cola’s position in Vietnam market 5
b. Previous marketing campaign analysis 6
c. Competitors’s analysis 10
2.2.2. External context 11
a. Political/ Legal factors 11
b. Economic factors 12
c. Social factors 12
3. Communication objectives and positioning 13
3.1. Communication objectives 13
3.2. Positioning 13
4. Audience communication strategy (3Ps) 13
4.1. Pull 13
4.2. Push 14
4.3. Profile 14
5. Advertising Media 15
5.1. Television Advertisement 15
5.2. Social Media 16
5.3. Billboards and Transit Advertising 16
6. Implementation, Control and Evaluation 16
6.1. Implementation 16
6.2. Control 17
6.3. Evaluation 18
7. Conclusion 18
APPENDIX 19
Reference 22

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1. Introduction

The Coca Cola Co., a global beverage giant, stands as an iconic symbol in the carbonated soft
drink industry. As a key player in the non-alcoholic beverage sector, Coca-Cola has solidified its
presence with a diverse portfolio, offering a range of sparkling beverages, juices, teas, and
energy drinks. The company's unparalleled commitment to refreshment and quality has
positioned it as a household name, enjoyed by millions worldwide.

Renowned for its distinctive red label and effervescent taste, Coca-Cola's unique selling
proposition (USP) lies in its time-tested formula and enduring appeal. With a legacy dating back
to the late 19th century, Coca-Cola has seamlessly adapted to evolving consumer preferences
while retaining the essence of its original recipe.

Operating on a global scale, Coca-Cola's reach spans over 200 countries, solidifying its status as
a truly international brand. The company's strategic partnerships, innovative marketing
campaigns, and unwavering dedication to community initiatives have contributed to its
unparalleled success.

In the competitive landscape, Coca-Cola's primary rival is PepsiCo, constituting one of the most
enduring corporate rivalries in the business world. The ongoing battle for market share and
consumer loyalty between these beverage giants continues to drive innovation and shape the
industry's trajectory. This introduction encapsulates Coca-Cola's dominance, global footprint,
and the dynamic competition that characterizes the beverage industry, positioning it as a dynamic
and enduring force in the market.

According to Statista, in 2024, Vietnam's Carbonated Soft Drinks market showcased robust
performance, amassing US$1.9 billion, and anticipated a promising 4.60% annual growth
trajectory through 2027. The average volume per person in 2024 is 19.15 liters, reflecting a
notable consumption pattern. This surge in demand within Vietnam's carbonated soft drink
market is notably attributed to its youthful population and ascending disposable incomes,
signaling a dynamic landscape of evolving consumer preferences and market trends.

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2. Context analysis

2.1. Customer context

According to Statista's Soft Drink in Vietnam market report, the consumer demographic skews
towards the 25-34 age group, constituting 34%. Key insights into preferred consumption
occasions, like socializing and celebrating, inform effective product positioning and targeted
marketing. Consumer preferences emphasize taste, brand reputation, and product ingredients.

Government General Statistics Office (GSO) data from 2022 reveals substantial household
expenditure on living standards, representing 95.5% of total spending. Monthly spending on
Food and Beverage (F&B) per person is around 1.3 million VND, equivalent to 50% of monthly
income.

Given the diverse demographic profile, taste, brand, and ingredient preferences, coupled with
significant standard living spending, Coca Cola's target audience in Vietnam should concentrate
on the 25-34 age group. Marketing strategies aligning with socializing and celebratory occasions
capitalize on these preferences.

Furthermore, the Vietnamese beverage market remains stable during the 2024 Tet season, with a
balance in product availability and consumer preferences. Projections anticipate robust growth in
consumer purchasing power, exceeding 10% compared to 2022 levels (VIRAC, 2023). This
positive trend during Tet presents opportunities for successful marketing campaigns, fostering
potential growth in the beverage sector.

In summary, Vietnam's soft drink landscape, shaped by demographic diversity, consumer


preferences, and significant living standards expenditure, offers a comprehensive understanding
for strategic market positioning. The Tet season provides a favorable backdrop for marketing
endeavors, aligning with optimistic projections for consumer spending.

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2.2. Business context

2.2.1. Internal context

a. Coca Cola’s position in Vietnam market

Coca-Cola maintains a strong presence with a 6% share in the general soft drinks market and an
impressive 28% in the specific carbonated soft drinks category, showcasing its market influence
in the Vietnam market. Despite economic challenges, the food and beverage industry, led by
Coca-Cola, demonstrated resilience with only a 3% decline compared to a 20% drop in other top
global brands. (Statistia, 2023).

Coca-Cola's brand value soared to $98 billion, marking a notable 9% increase from 2022 and an
$18 billion surge since 2021. This underscores Coca-Cola's exceptional performance and
adaptability in a competitive market.

2020 2021 2022

Revenue growth rate -11.41% 17.09% 11.25%

Cost growth rate -8.11% 14.31% 17.23%

Gross Profit growth rate -13.54% 18.98% 7.32%

Table 1: Coca Cola’s Growth rate table in 3 years 2020-2022


(Source: Macrotrends, 2023; Table A1 in the Appendix)

Table 1 illustrates Coca Cola’s revenue, cost, and gross profit performance from 2020 to 2022.
While revenue growth rates displayed a positive trajectory, especially in 2022 with an 11.25%
increase, heightened costs in the same period impacted the gross profit growth rate, indicating
areas for operational refinement.

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In summary, Coca-Cola's dominance in the Vietnam market, along with its remarkable brand
value and financial performance, positions it as a resilient and adaptable player in the global soft
drinks and food and beverage industry.

b. Previous marketing campaign analysis

Coca-Cola Vietnam's Tet 2023 campaign, revolving around the theme of cherishing familial
bonds through festive meals, introduced innovative elements with the message 'Tet may change,
but magic remains.' With over 1,065,000 engagements and the involvement of more than 100
key opinion leaders (KOLs) across various platforms, the campaign made a significant impact
(Brands Vietnam, 20223).

Initiated in November 2022, the Tet-themed Coca-Cola showcased three golden swallows
representing the North, Central, and South regions of Vietnam, each embodying Warmth, Trust,
and Sincerity. The Coca-Cola Tet 2023 design was embraced by over 960,000 retail points,
supermarkets, and display areas.

Image 1: The 2023 Packaging of Coca-Cola, appearing from left to right as


Warmth, Trust, and Sincerity.

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(Source: Bách Hóa Xanh, 2023)

In a digital initiative, Coca-Cola premiered the advertisement film "Tet may change, but magic
remains" on YouTube, amassing 1,355,105 views. Additionally, the brand introduced the
captivating "Timeless magical dining table" activity on the campaign's website, running from
December 10, 2022, to January 1, 2023. For every created greeting card, customers received a
VND 20,000 voucher. Successful logins and participation further contributed VND 15,000 each
to the Vietnamese Red Cross Society's Tet Charity Fund.

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Picture 2: The 2023 Coca Cola’s Advertisement Film on Youtube (Link)

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Picture 3: Coca Cola’s 2023 Tet Charity Fund
(Source: doanhnghiepkinhtexanh.vn)
Moreover, the campaign included charitable activities, such as Coca-Cola's collaboration with
the Vietnamese Red Cross Society to provide financial support to 3,000 households nationwide
through the "Free Tet Market." The program distributed over 4,000 traditional Tet cakes to
various groups, including students, homeless individuals, and freelance workers in Hanoi and Ho

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Chi Minh City. Additionally, 2,400 Tet gift packages were donated to individuals and families
facing difficulties in 13 provinces.

A noteworthy achievement occurred on January 8, 2023, when Coca-Cola set a world record
with the "World's longest timeless dining table" event at Hoa Lu Stadium in Ho Chi Minh City.
The event featured traditional activities, games, and gifts, underscoring Coca-Cola's commitment
to community engagement.

Picture 4: Coca Cola’s World Longest Timeless Dining Table


(Source: dantri.com.vn)

c. Competitors’s analysis

During the Lunar New Year campaign, Coca-Cola faces significant competition from rivals
Pepsi and Heineken.

Coca-Cola and PepsiCo are industry counterparts, sharing similarities in their sector, target
consumers, and primary products, both holding global leadership positions in beverages

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(Investopedia, 2023). Macrotrends reveals PepsiCo's 2022 annual revenue at $86.392 billion, an
8.7% increase from the previous year, surpassing Coca Cola's $43.004 billion. While Coca Cola
focuses on beverages, Pepsi diversifies into snacks (Lays, Doritos), and cereal (Cap’n Crunch).
In 2023, Pepsi's "Mang Tết về nhà" (Bring Tet Home) sponsored travel for students and those
facing financial challenges, promoting family reunions during Tet (Investopedia, 2023).

In contrast, Heineken, with a revenue of $25.9 billion USD, emerged as a key competitor,
leveraging event marketing in 2023. The Tiger Remix 2023 event in Ho Chi Minh City, featuring
singer CL from 2NE1 and other renowned artists, generated substantial attention on Tiger Beer's
fanpage (Buzzmetrics, 2023). During the challenging Tet season of 2022, beer claimed the
highest Real Purchase value share, around 1.5% in urban and 2.8% in rural areas (Kantar, 2023).

While Pepsi tailors marketing for local traditions, Heineken focuses on event marketing,
exemplified by the successful Tiger Remix 2023 event. Both Pepsi and Heineken engage in
intense competition with Coca Cola during festive holidays, adapting strategies to harmonize
with cultural customs.

2.2.2. External context

a. Political/ Legal factors

In 2021, Russia experienced a remarkable 21% growth in Coca Cola's unit case, contributing
significantly to the surge in beverage sales volume (Coca Cola, 2021). Despite this positive
trend, in response to Russia's invasion of Ukraine, Coca Cola and other brands are closing their
establishments in the country. Notably, Coca-Cola is taking a significant step by suspending
operations, as reported by CNN in 2023. This move highlights the company's stance on the
conflict and emphasizes its commitment to responsible business practices amid geopolitical
challenges. However, it raises concerns about potential negative impacts on global economies.

In 2023, Vietnam's Ministry of Finance is contemplating the inclusion of soft drinks in the list
subject to Special Consumption Tax (SCT) to align with global standards and address escalating
concerns about the nation's public health. This proposal encompasses industrially produced

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carbonated and non-carbonated soft drinks, energy drinks, sports drinks, ready-to-drink tea, and
coffee. However, exemptions are granted to natural fruit juices, 100% natural vegetable juices,
milk, and milk products. The potential implementation of such regulations could significantly
impact beverage giants like Coca-Cola, as it may alter the competitive landscape and consumer
preferences, compelling the industry to adapt to evolving market dynamics shaped by these
taxation measures.

b. Economic factors

In December 2023, Vietnam experienced a modest 0.12% rise in the Consumer Price Index
(CPI), aligning with the National Assembly's 3.25% annual inflation target. Concurrently, gold
prices surged by 3.98%, possibly influenced by global economic uncertainties affecting mining
and trading sectors. Conversely, the US Dollar Price Index decreased by 0.56%, impacting
international trade dynamics (GSO, 2023). These economic changes may impact consumer
purchasing power, posing challenges or opportunities for businesses in consumer goods, gold,
and international trade. The stable CPI reflects effective inflation control, while the rise in gold
prices indicates a hedge-seeking behavior in uncertain financial climates.

Simultaneously, escalating prices have heightened concerns about job and income stability due
to widespread layoffs since Q4 2022. This has led consumers to become more cautious in
spending, opting to tighten their belts in response to these economic challenges (Kantar, 2023).

c. Social factors

Coca Cola's widespread consumption is accompanied by persistent health concerns, leading to


ongoing research. Soft drinks, whether carbonated or not, raise issues due to phosphoric acid
weakening teeth and caffeine in colas being linked to osteoporosis. The sugar content is
associated with various health conditions, as noted by the National Journal of Health Sciences
(2019). Kantar's findings reveal that the pandemic has driven consumers to prioritize nutritional
benefits and healthier alternatives in food and beverages, showing a preference for reduced fat or
sugar-free options. A significant 87% read labels to avoid unhealthy foods and are willing to pay
more for healthier choices, with over 70% favoring products rich in beneficial nutrients.

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3. Communication objectives and positioning

3.1. Communication objectives

Coca-Cola's communication objectives are strategically designed to align with its core values and
respond to the dynamic Vietnamese beverage landscape. By prioritizing quality, community
engagement, and adaptability, Coca-Cola aims to enhance customer familiarity and establish
brand distinctiveness. The communication goal specifically targets emotional appeal, seeking
more than 4,000 engagements on Facebook and TikTok. Simultaneously, it addresses broader
social concerns by raising awareness about soft drink and alcoholic beverage consumption
during Tet, showcasing Coca-Cola's commitment to health consciousness. This integrated
approach reinforces the brand's values while fostering a deeper connection with consumers,
transcending mere product promotion.

3.2. Positioning

Examining the customer context reveals the potential profitability of focusing on the 25-34 age
group in Vietnam, emphasizing socializing, celebratory occasions, and aligning with diverse
preferences and significant lifestyle spending. This analysis aligns with Coca-Cola's business
context, highlighting the brand's strong emphasis on fostering emotional connections in
marketing campaigns with its customers.

4. Audience communication strategy (3Ps)

4.1. Pull

In an adept implementation of a 'Pull' strategy, Coca-Cola's upcoming Tet campaign envisions a


captivating metamorphosis of its packaging, symbolizing fortune and prosperity. By skillfully
amalgamating swallows to form a dragon, the brand leverages cultural symbolism associated
with the Lunar New Year. This visually arresting and culturally meaningful packaging aims to
attract consumers by eliciting positive emotions linked to the festive season. The symbolic
dragon, embodying growth and happiness, acts as a potent visual element, aligning Coca-Cola
with the celebratory essence of Tet. This inventive packaging not only distinguishes the brand

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but also sparks consumer curiosity, creating a 'Pull' effect as customers are organically drawn to
the product during the festive period.

4.2. Push

Coca-Cola can adopt a philanthropic 'Push' strategy, targeting rural mountainous areas instead of
urban centers. The initiative expands its scope to include ethnic minorities, fostering a more
inclusive community approach. To amplify its impact, renowned local influencers such as Do
Mixi, a popular streamer from the mountainous Cao Bang region, and rapper Den Vau are
involved, adding authenticity to the initiative. Accomplished singer Hoa Minzy contributes to the
campaign's theme song and music video, infusing cultural connection and uplifting rural
communities during the Tet season through this comprehensive 'Push' strategy.

Picture 5: Coca Cola's Recommended Key Opinion Leaders (KOLs) for 2023.
(from left to right is Do Mixi, Den Vau and Hoa Minzy)
(Source: Vietnamnet)

4.3. Profile

In a strategic move aligning with a 'Profile' approach, Coca-Cola introduces a captivating


limited-time event for the upcoming Tet campaign. Enabling consumers to express their wishes
and names on a campaign website reflects the brand's commitment to customer engagement.
Participants receive a 20,000 VND coupon and a QR code, transforming their digital messages

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into tangible keepsakes. The innovative touch comes with laser scanner printers strategically
placed in prominent pedestrian areas of Hanoi, Ho Chi Minh City, and Da Nang. By scanning
their QR codes, participants witness their personalized messages etched or painted onto Coca-
Cola cans. Leveraging social media platforms, the company ties donations to posts, pledging
15,000 VND to the Red Cross Organization for every shared picture with the campaign hashtag.
This 'Profile' initiative not only fosters individual connections but also reinforces Coca-Cola's
social responsibility and community involvement.

5. Advertising Media

5.1. Television Advertisement

The cost of airing a TV commercial is based on seconds, requiring careful calibration to convey
content effectively and manage expenses. The optimal duration for a TVC typically ranges from
15 to 30 seconds, with the standard being 30 seconds. Initial viewer engagement is high for the
first 30 seconds, but significantly drops beyond 60 seconds, emphasizing the importance of a
captivating opening.

In this vibrant Tet-themed TVC, Coca-Cola unveils a captivating narrative of cultural fusion and
celebration. The TVC commences with a bustling Tet market scene, where families embrace
traditions. Coca-Cola's exclusive Tet packaging takes center stage, featuring dynamic designs
symbolizing the Year of the Dragon. The scenes transition to lively family gatherings, where
Coca-Cola becomes an integral part of the festive feasts and joyous reunions. The TVC
introduces local influencers Do Mixi and Den Vau, embodying the spirit of Tet with genuine
enthusiasm. Hoa Minzy's melodic voice enriches the TVC with a specially crafted Tet anthem,
amplifying the festive atmosphere. As the narrative unfolds, Coca-Cola continues its
commitment to community, partnering with Red Cross for charitable initiatives during Tet. The
TVC concludes with families raising Coca-Cola cans in a festive toast, capturing the essence of
togetherness and celebration. Coca-Cola, a companion in every Tet moment, inviting all to share
the joy and traditions of the Lunar New Year.

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5.2. Social Media

Embarking on a vibrant Tet campaign, Coca-Cola not only unveils sophisticated packaging but
also crafts unforgettable memories. The video begins with a joyful Tet gathering, transitioning to
Coca-Cola's distinctive package adorned with a dragon symbol. Lively music complements the
shared enjoyment of Coca-Cola, creating a cheerful atmosphere. The challenge "Like, Share, and
Make this Tet unforgettable!" encourages active participation. Hashtags #CocaColaTet and
#TetParty accompanied the video, spreading Tet joy across social media.

5.3. Billboards and Transit Advertising

Key attention should be given to design elements and the central message. The billboard will
employ vivid colors and captivating visuals showcasing Coca-Cola's Tet-themed packaging with
a dragon, symbolizing luck and prosperity for the Lunar New Year. Encouraging viewers to
partake in the festive spirit with Coca-Cola, it will feature hashtags #CocaColaTet and #TetParty
for sharing and a chance to win prizes. The billboard aims to pique curiosity, initiating social
media engagement and generating a positive impact across the online community.

6. Implementation, Control and Evaluation

6.1. Implementation

Commencing on February 1, 2024, the Tet campaign unfolds over three weeks, embodying
Coca-Cola's strategic marketing for Tet 2024. The Gantt Chart below illustrates the anticipated
milestones and strategies underpinning Coca-Cola's Tet campaign.

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In a condensed three-week Tet campaign, Coca-Cola strategically orchestrates a multi-channel
media schedule. Kicking off with TVC premieres in week one, the culturally rich and vibrant ads
take center stage during prime slots. Simultaneously, daily social media activations, featuring
engaging TikTok videos and interactive posts, aim for a robust 4,000 interactions. The campaign
escalates in week two, with the strategic placement of billboards across key locations,
showcasing Tet-themed imagery to capture the attention of passersby. Week three marks the
zenith, aligning TVC reruns with intensified social media engagement, creating a grand finale
that invites audiences to immerse themselves in Tet's festive spirit and reinforce the brand's
connection with the community.

6.2. Control

To ensure optimal control of the Tet campaign, a dedicated project management team will
oversee daily operations, monitor media scheduling, and analyze social media interactions.
Regular progress meetings will be conducted to address emerging issues promptly, guaranteeing
that the campaign aligns with predetermined goals and timelines. Continuous feedback loops and
real-time data tracking will enable agile adjustments to enhance effectiveness.

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6.3. Evaluation

For evaluation, comprehensive metrics, including social media engagement, TVC viewership,
and billboard reach, will be analyzed. Post-campaign surveys measuring brand recall and
sentiment will provide qualitative insights. The evaluation process will culminate in a detailed
report assessing the campaign's impact on brand perception, audience reach, and achievement of
predetermined objectives.

7. Conclusion

Coca-Cola's Tet 2024 campaign combines tradition, innovation, and social responsibility to
resonate with Vietnam's diverse and dynamic market. Positioned as a market leader, Coca-Cola
leverages its brand strength and adaptability to navigate both internal and external challenges.
The campaign strategically targets the 25-34 age group, aligning with consumer preferences and
lifestyles. Through a 'Pull,' 'Push,' and 'Profile' strategy, Coca-Cola integrates cultural
symbolism, influential KOLs, and interactive events, fostering emotional connections and
community engagement. The media mix of TVC, social media, and billboards ensures a
comprehensive reach, culminating in a three-week campaign that celebrates Tet, fosters brand
loyalty, and contributes to societal well-being.

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APPENDIX

This appendix serves as a supplementary section providing in-depth information, additional data,
and supporting materials to the main report.

Figure A1: Soft Drinks Consumption By Age

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(Source: Statista, 2022)

Figure A2: Preferred occasions for consuming energy and carbonated drinks in Vietnam as
of January 2023
(Source: Statista, 2023)

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Figure A3: Leading reasons to purchasing carbonated soda brands in Vietnam as of
January 2023
(Source: Statista, 2023)

2019 2020 2021 2022

Revenue 37,266 33,014 38,655 43,004

Cost 14,619 13,433 15,357 18,000

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Profit 22,647 19,581 23,298 25,004

Table A1: Coca Cola’s total Performance in three consecutive years


(Measured in million USD)
(Source: Macrotrends, 2023)

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vietnam

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CocaCola Revenue 2010-2023 | KO. (n.d.). MacroTrends.


https://www.macrotrends.net/stocks/charts/KO/cocacola/revenue

Gorton, D. (2023, August 29). Coca-Cola vs. Pepsi Business Models: What's the
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Coca-Cola Reports Second Quarter 2021 Results | Press Release. (n.d.). https://www.coca-
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Bổ sung nước ngọt vào đối tượng chịu thuế tiêu thụ đặc biệt. (2023). National Institute for
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Thời lượng quy chuẩn cho Video quảng cáo TVC là bao lâu? (n.d.). Thời Lượng Quy Chuẩn Cho
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video-qu-ng-cao-tvc-la-bao-lau#:~:text=Do%20v%E1%BA%ADy%2C%20th%E1%BB%9Di
%20l%C6%B0%E1%BB%A3ng%20ph%C3%B9,k%E1%BB%83%20v%C3%A0o%20gi
%C3%A2y%20th%E1%BB%A9%2060.

5 key factors influencing Vietnam’s FMCG market in 2023. (n.d.).


https://www.kantar.com/inspiration/fmcg/5-key-factors-influencing-vietnams-fmcg-market-in-
2023

Tet 2023: Three festive shopping insights unveiled. (n.d.). turtl.co. https://kantar.turtl.co/story/tet-
2023-fmcg-insights-e/page/3?
utm_source=Organic&utm_medium=Website&utm_campaign=Tet_2023_fmcg_insights

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