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QTSP
QTSP
Question 2:
Multi vitamin family Provita
1. Executive summary
Today, consumers are increasingly paying attention to products that are good for
health and increase resistance, especially after the covid-19 pandemic. And in
particular, functional foods are currently very popular with consumers, specifically
multivitamin tablets. According to statistics from the Vietnam Association of
Functional Foods (VAFF), the number of functional food consumers accounts for 1/5
of the population. Vietnam has more than 3.000 establishments producing and trading
functional foods.
Among them, Minh Hanh Pharmaceutical Trading Company Limited was
established on February 27, 2012, and is an enterprise that distributes medicinal
products, functional foods, and cosmetics domestically and internationally. After more
than 10 years of development, Minh Hanh Pharmaceutical distributes more than 50
community health care products. Especially outstanding is the product Multi Vitamin
Family PROVITA + Fucoidal Jelly tablets. The product is a superior formula of 24
active ingredients, combining precious herbs with essential vitamins and minerals.
Thereby helping to increase resistance, support digestion, nourish blood, reduce
cerebral anemia,....
With the mission of bringing quality products to meet the health care needs of
more customers, the research team decided to propose and create a product strategy
and supporting marketing programs for Multi Vitamin Family PROVITA + Fucoidal
Jelly in Vietnam market for next year- 2024.
2. Situation analysis
2.4.1. Political
Food safety regulations: may reduce or enhance product functionality. This
includes product regulations that meet GMP standards with strict requirements on
equipment, technology, people, and the environment.
Tax policies and regulations on drugs and functional foods: can affect the price of
the product.
2.4.2. Economic
The average monthly income of workers increased by 6.8% over the same period
last year. This increases the ability to pay for other items such as health promotion in
addition to essentials. Price sensitivity will also decrease.
Fluctuations in production costs (raw materials, fuel,...) can affect business profits
and product prices.
2.4.3. Social
After Covid-19, consumers care more about health care and healthy lifestyles.
Increased health consciousness may create opportunities for functional foods, but it
also poses challenges in confronting attention to quality and transparency. Besides
health, female consumers are also interested in products that help enhance beauty
from within the body.
2.4.4. Technological
Applying technology in product research and development can create opportunities
to launch new products or enhance the functionality or quality of existing products.
The influence of online shopping and online commerce channels, when today's
consumers tend to use social networks and e-commerce platforms, can affect the
marketing strategies of businesses.
Children under 10 Children over 10 Người lớn và trung Người cao tuổi
years old years old, teenagers niên
Who Demograph Income: Depends on Income: Partly Income: Financial Income: financial
ic parents dependent on family independence, high independence
or financial income
independence, stable
income
Psychogra Followding to family Like the convenience. Pay much attention to Paying special
phic instructions. Pay attention to their the health of yourself attention to health,
own health. and your family. this is the age
group that needs to
use functional
foods.
What What Multivitamin Look for products that Prioritize products Contains rare
customers functional food support adequate containing many medicinal
buy products are good for vitamin minerals to support ingredients,
the digestive system supplementation to health, increase providing benefits
and immune system, increase energy and resistance, prevent such as improving
reducing malnutrition calcium to grow taller. aging of bones and blood circulation,
and picky eating. Besides, there are joints and maintaining
types that help cardiovascular cardiovascular
In addition, fruit beautify the skin, diseases. health, enhancing
flavors can be added containing vitamin A metabolism,
and the product is in to support vision in For pregnant women, strengthening
the form of easy-to- learning and brain iron supplementation bones and
use gummies and development. helps improve the strengthening teeth.
effervescent tablets. quality of red blood
cells,... helping the
pregnancy develop
safely.
How they Use once a day or Adult supplements Can be used 2 - 3 times per day or more.
use it less because can be used but less However, according to each type of product,
functional foods for frequently. take the appropriate dosage.
children do not have
too many effects, so
consider using them.
However, the level of use depends on a number of factors such as age, gender, weight,
health status and depending on the special ingredients of each product and the frequency of
use required.
Where customers In pharmacies, cosmetic and health care retail stores, large
buy supermarket chains and online shopping on e-commerce platforms,
websites or from foreign intermediaries.
When customers buy Purchase products monthly for home and personal use.
On special occasions such as holidays, you can buy products as
gifts.
During big promotions.
How they choose - Through the recommendation of friends, family, and pharmacists at
the pharmacy
- Through learning about product information on social networking
sites.
- Through the evaluation of customers who have previously
purchased.
- Some types have prices suitable for your finances.
Why they prefer a Likes products in - Prioritize functional foods with a combination of nutrients to bring
product the form of candy, comprehensive health and feel like you spend less money.
- Prioritize energy products in tablet and capsule form for easy and
functional foods quick use
with many flavors, - Prioritize products that can be used by the whole family to feel more
stimulating convenient.
children's taste
buds.
How they respond to View advertising Watch advertisements for functional foods.
marketing programs programs for Through analyzing the number of purchases and customer reviews
functional products. through online platforms
Will they buy again Loyalty level: High
3. Objectives
Sell: The company plans to sell 700.000 products in 2024.
Revenue: With the number of products sold as above, the company is expected to
achieve revenue of about 57.000.000.000 VND.
Market share: Increase market share up to 7% in the multivitamin market in
Vietnam 2024.
Demograp Income: depends on family or Income: medium and high, Income: average over 10 million
hic has income but is still low. from 7 million VND or more. VND or retired.
Behavior Start knowing and learning Research and learn carefully, Prioritize their own use
about functional foods. regularly buy for themselves
Use as directed by family and their family
Benefits Look for products that Functional food products The product contains rare medicinal
sought support adequate vitamin contain many minerals to ingredients, providing benefits such
supplementation such as support health, increase as improving blood circulation,
multivitamin tablets to resistance, cardiovascular maintaining cardiovascular health,
increase energy and brain diseases, and avoid physical and avoiding poor diet.
development. weakness.
Reputable brand, product in box/jar
Reasonable prices, eye- Reputable brand, product in for easy carrying.
catching products box/jar for easy carrying.
Prioritize products that can be used
Prioritize products in tablet Prioritize products that can be by the whole family
form for easy swallowing used by the whole family
4.3.1. Packaging
Size and shape: Compact rectangular box, inside contains 2 blisters x 15 tablets
Material: Paper is safe and convenient, environmentally friendly
Brand logo/ Name: Multi Vitamin Family PROVITA + Fucoidal Jelly
Color and theme: White box with image of melted honey, bright and eye-catching
main color yellow.
4.3.2. Ingredient
The product comes in soft capsule form, with color is dark brown, about 2cm long
- and is a superior formula containing 24 active ingredients.
4.3.3. Function
Characteristic Benefits
Cordyceps extract combined with Panax Enhance immunity, increase resistance, increase blood
vietnamensis and Fucoidan circulation to tissues and organs, increase absorption of
nutrients.
Royal Jelly, Red Ginseng Extract, Ginkgo Nourishes blood, increases circulation and increases oxygen
Biloba Extract
supply to organs in the body, especially the brain, preventing
cerebral anemia and dementia.
Supplement antioxidants, comprehensively Protects organs from oxidizing agents, enhances resistance,
providing essential minerals and vitamins especially during convalescence and brain development.
The product is soft capsules Convenient, easy for customers to use, easy to drink
Compact paper box Customers are easy to carry, easy to store and also contribute
Full information about ingredients, uses, to protecting the environment
intended users, how to use, place of Besides feeling safe, it is easy to understand the product when
production, anti-counterfeit stamps... buying and using it
Diverse uses for target audience Makes customers feel convenient, without having to consider too
much when buying and using the product.
4.4.1. Differentiation
Provita contains up to 9 types of vitamins and rare Vietnamese herbs, combining a
variety of minerals and benign nutrients, the product has a high level of safety and is
compatible for a wide variety of people. Usage:
- Children from 10 years old
- Adolescents in the period of strengthening, weak and malnourished people
- Adults are tired, have weak health, lack of clarity, dizziness, nausea,... high
blood pressure
- Even for the elderly or pregnant and postpartum women.
At the same time, it also does not contain selenium in high concentrations, so there is
no need to worry about overdosing (more than 1 pill/day) leading to health risks and is
not restricted to children. The product can be used up to 4 tablets/day or
- For children 10-15 years old: take 1-2 tablets/day
- Children over 15 years old and adults: take 2-3 tablets/day
In particular, the product also contains nutritional extracts from many rare natural
herbs such as cordyceps, panax vietnamensis, royal jelly, red ginseng extract,...
→ The product is positioned in the customer's mind as a highly safe product, suitable for all family
members, together strengthening resistance. In addition to not only being a multivitamin tablet that
includes vitamin and mineral compounds like other brands, it also contains extracts from rare and
natural herbs to provide more comprehensive health benefits for consumers.
5.1. Price
Currently the product is priced at pharmacies: 90,000 VND/box of 30 tablets. In 2024, it is
recommended that the company with the following pricing strategy and price adjustment
strategy to increase customer incentives to purchase larger quantities and promote more
frequent purchases:
Incentives:
Price Retail price for 1 For 10 boxes For 30 boxes For 50 boxes
box
The changing seasons of 2024 (January, April, August, October) are the time when people
are most susceptible to getting sick, which is also the time when customers will look for more
functional foods and multivitamin pills to help. enhance resistance. Therefore, it is possible to
introduce a reward policy based on the import sales of each month above.
- Get 10 additional products if you import more than 100 products/month (Jan, Apr, Aug, Oct)
- Get an additional 15 products if you import more than 150 products/month (Jan, Apr, Aug,
Oc)
- Get an additional 20 products if you import more than 200 products/month (Jan, Apr, Aug,
Oc)
→ Implementing discount programs for distribution intermediaries will promote more product
consumption and improve efficiency in sales activities.
5.2. Place
Currently, the company is implementing a selective distribution strategy for Multi vitamin
family Provita products. The product is being sold at Long Chau, An Khang,... and small
retail pharmacies nationwide. In 2024, it is proposed that the company expand its distribution
channel system to bring products to more customers, thereby bringing high sales to the
company.
The end of 2023 The start of 2024 Middle of 2024 The end of 2024
Inform and agree on Maintain and expand cooperation with Put products on e- Perform an
the latest product large private pharmacy systems and commerce platforms overall inspection
information. small private pharmacies after building a strong of all activities
product image in the related to the
Plan to expand the Expanding health and beauty retail minds of customers. distribution
entire distribution chains channel system,
channel, get opinions In order to serve this sales, inventory
from old distribution → Continuously evaluate customer distribution channel, quantity,...
intermediaries to reactions, the business situation of these the company also
amend and adapt to distribution units and can send staff to needs to invest in a
avoid future conflicts. provide additional professional training for professional delivery
salespeople. At the same time, update team, ensuring quick
information about new points of sale on the and accurate delivery.
website to support members in the Đưa sản phẩm lên các
distribution channel. sàn thương mại điện
tử sau khi đã xây dựng
được hình ảnh sản
phẩm mạnh mẽ trong
tâm trí khách hàng.
5.3. Promotion
Objective - Make a strong impression - Increase direct interaction with -Increase product usage.
in the minds of customers brands through channels such as -Increase product love through
social networks, email, online spreading a message
- Make customers interested chat, and support hotline. - Stronger stimulation of consumer
in the product to create purchases, maintaining existing
initial demand. - Provide valuable content, customers, attracting more new
develop and share educational customers, contributing to increase
- Encourage initial and valuable content to the company's sales
interaction from customers strengthen connections with
target audiences.
Advertising Advertise TVC on TV Quảng cáo chuỗi Talkshow theo Advertise landing pages and
channels and social từng tập campaign articles
networks
Direct Marketing Send Marketing Emails about Send Marketing Emails about the
Talkshow to interested customers program to old customers who
and register to attend. have used the product for more
than 3 months
PR Post articles about Articles about Talkshow and the Articles about Vietnamese
Provita products and value that the product brings to consumers' experiences after
related topics users, and how to maintain health. using Provita products and
comparisons with competitors
Sales Discounts for each talkshow and For each share, consumers will
Promotion gift promotions for consumers. receive a voucher for their next
purchase
Personal Selling Display booths right at the Encourage the sales team at
talkshow to support consumers distribution partners to share about
the program with customers
Support Media Support product promotion banners at distribution points of some pharmacy systems, health
care and beauty retail stores