Beamin Recommendations in the process of business mânagement PDF

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Recommendations for Vietnam Airlines in the process of business mânagement...

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BAEMIN SPEAKER NOTES 500 THẢO Slide 1: hello everyone, we are group 2 and today we gonna present about the topic consumer behavior and use the case of BAEMIN Vietnam as a example about the benefit of understanding consumer behavior when entering a market . Despite being a "newbie" in a market full of competition and explosive growth, Baemin wisely and "persistently" satisfied his customer group, as well as gradually asserted his role. Leading the way with a distinctive and distinctive approach to the journey of delivering authentic customer experiences. Slide 2: Our presentation has 4 parts, first is the introduction, then we gonna analyse the STP and 4Ps, and conclusion. We also apply some theory with relevant evidences to support our research MINH VŨ Slide 3: so firstly lets take a look about BAEMIN, this is a mobile food delivery application, released in 2010 in South Korea and now being the most popular food delivery app there. And BAEMIN working with the vision is to “exploit the power of information technology to thrive the enhancement of the delivery industry”. Consumer will perceive a brand that have associate with technology is morden, leading and future. Slide 4: So, BAEMIN first entered in the Vietnam market in 2019 and came into operation in Ho Chi Minh City, then expanded in Hanoi a year later. Even though being a late joiner in the food delivery industry in Vietnam, a survey we found show that in 2020, BAEMIN steps up being one of the most favorable food ordering apps in Vietnam after only one and a half year. This result show that BAEMIN’s marketing was really successful in Vietnam. Even though being a "late joiner", Baemin still success by "hitting" the right market segment and know how to persuade them. Slide 5: The first part is about segmentation. It clearly sees that BAEMIN’s demographic are young people, from about 16 to 25 years old, and mainly female. And here is the evidence. First, their concept is made with an animation fat cat as the primary mascot, which looks fun, cute and approachable to young people, especially who like Korean live style. There are are large number of vietnamese girls tend to follow korean style, taking this advantage, Baemin convert fully its concept from Korea to VN market

Secondly, BEAMIN came up with some music video campaigns to deliver commercial messages. And in these music videos, BAEMIN collab with celebrities that popular and be noticed by gen Z like singer Amee, rapper Karik, Justatee and Rhymastic. And all BAEMIN’s music video insights are focused on female. For example, MV “baby” insight was: no matter how strong and independent, a woman still wants to be a baby in her man’s eyes, and that’s why she will choose BAEMIN healthy collection”.

DUSTIN Slide 6: Psychographic: BAMEIN focused on connecting with customers emotionally so that customers can not only "eat well" but also "have fun". And because BAEMIN target market are the young, who usually catch up the trends, therefore BAEMIN gave out tons of funny slogans that match with some trendy stories in Vietnam that will catch their audience’s attention. Slide 7: BAEMIN first focus on Ho Chi Minh, Hanoi and other big cities, where people have high demand for food delivery. In this presentation, we will focus on Hanoi market. Slide 8: The customer, of course usually ordering food online and through mobile app. And since BAEMIN offers tons of vouchers every day, we can say their target is young people who prefer to order food with discounts. Slide 9: from all discussion in previous parts, BAEMIN target customer are from 16-25 years old, mainly female, living in big city such as Hanoi. These people are young, so they often keep up with the trend, and they do enjoy humor content. For behavior, this target group have a habit of ordering food through mobile app, and they will be motivated by discount codes. VAN HA Slide 10: and for positioning, BAEMIN want to be perceive as specialist in food delivery, fast shipping, good restaurant choices and favorable prices as well as a brand that is always keeping up with trends . By stating the brand “Only focus on food delivery” by sharing the entry requirement include tests of company for rider, they commit with buyer to serve the best shipping service, BAEMIN has differentiate themselves from their rivals, as these competitors were started from online shopping or ride-hailing services. If a business introduce themselves that just focus on a specific service, consumer will perceive it as a better one compare to business that serve in complex services

So, BAEMIN applied the key attribute positioning strategy by using many slogans, one of them is: “BAEMIN, HOT AND CRIPSY, COMING!”, which proclaims their speed and the food quality they deliver. Slide 11: Good restaurant choices with favorable prices also can be observed through their website and social media content. Slide 12: So, BAEMIN positioning strategy are build based on the Vietnamese attitude towards the food delivery app in Vietnam, as you can see here. The consumers decided shipping speed and professional services are the most important factor and discounts go after that. MIA Slide 13: And now I will talk about the product element in 4Ps in this case it will be consider as service. There is stated in one study that customer’s attitude towards an object will be witnessed and changed over time. And customers’ positive attitudes and perceptions is created under a satisfied experience with a product. The customers are also said to be open with new brands, and if the trial purchase met their expectations, it will create good impression and build certain attitude of customer toward 1 product. Therefore, BAEMIN focuses on its commitment towards service and quality with a intensive training course with double-entrance examinations for the riders in order to enhance its service and the brand’s perception. Slide 14: About branding, according to a survey with participants from 18-39 years old Vietnamese, 74% of the respondents were interested in Korea and Korean livestyle. And therefore, BAEMIN brought its original country’s identity into Vietnam market with unique mint color as the color representative, funky and adorable characters alongside with unique font type specifically design for Vietnam market, Baemin was clever to bring the korean culture in to vn market but also feature some element that “just for VN market”, which can make vnese customer feeling more special. Baemin has succeeded in capturing the hearts of Vietnamese users with its brand image and extremely "domestic" communication messages, something that not all foreign brands that have just entered the market can do. More over, their representative character also diffrerent from others companies, Baemin didnt use a kol or real image but they choose an animation character which is a fat cat as their mascot and transform it in many interesting ways through each campaign. Slide 15: It is shown in a study that consumers also link personality traits with certain color. For BAEMIN, choosing the mint color help them to associate with freshness and creativity, which suitable with their brand image as a brand for young people. The color also helps BAEMIN to stand out from the crowd in Vietnam and improve the brand identity.

DUSTIN Slide 16: move into price, As we have mentioned earlier, BAEMIN entering the Vietnam market with tons of discounts to persuade people use the app. Beside the discount for main product, which is food, it is also agreed by sixty percent online merchants that “free shipping” is the most effective way to increase sales. Quality promotions: Baemin's promotions are often very deep, normally is 50-60%, and especially are discounted up to 50-80k. Unlike some other apps that offer promotions but only for certain minimum orders and impose limits on maximum discounts And this both type of discount was used by BAEMIN. And we, as the young people who use BAEMIN too, also agreed that when ordering food, we are always looking for shipping fee discount codes. And BAEMIN know how the young in Vietnam think and behave, therefore come up with the price strategy that satisfy customers’ wants. Slide 17: BAEMIN also give special discounts or special offer in Vietnamese festivals and events such as Vietnamese teachers day or Tet. And people always gathering to celebrate it together and tend to ordering food to eat as a part of the celebration. This show that the culture in Vietnam has shaped BAEMIN pricing and promotion strategy. Slide 18: In the payment methods, BAEMIN beside received cash, also provide a full range of primary payment methods and visa or master card, which very convenient for users. Having a wide range of payment methods also help baemin to be perceived as a professional and big company. And in Vietnam, convenient is also an element that motivate people to choose using to purchase for a service. VAN HA Slide 19: For place, BAEMIN app are available on both IOS and Android, so anyone with smartphone can download and use the app. And, when entering the Hanoi market, BAEMIN chose to focus on four districts only, as you can see on the map. And these four districts had a high density, and most offices number in Hanoi were located there, where BAEMIN’S target customers gather around. So, Vietnamese people, especially the officers, usually tend to order food from nearby restaurants to ensure quality and for fast shipping. So, BAEMIN took advantage of their customers’ wants and placed on each district a large pano with messages that BAEMIN shippers only focus on 1 district, therefore the shipping time on that area will be fast. By placing pano on different districts, BAEMIN can attract and influences especially with people who live or work there. THẢO

Slide 20: The promotion activities including event, entertainment marketing and sales promotions are all analyze by our teammates in some previous part which include collab, become parner, sponsor for many music event and music videos of diffrence artists. Baemin took advantages from famous of events and artists to speard its image. Densen occurrence frequency of baemin on online platform and poster, pano, TV ad,.. create a phenomenon that makes customers feel a product is popular and loved when it appears everywhere. It helps to bring the significant colour and the name of baemin into customers mind. For sum up, BAEMIN promotion was build based on the target customer interest and lifestyle. And BAEMIN sales promotion strategy was shaped by the behavior, needs, wants of consumers, as well as motivations. Slide 20.2 : In today's food delivery market, users have too many choices, just open the food ordering application, and their eyes will be met with a series of accompanying dishes, drinks and services covering the entire screen. making operations on the application become cumbersome and confusing. Grasping this insight, Baemin continuously creates food collections, which are also the main promotional subjects in media campaigns with the goal of helping shoppers easily choose dishes according to their needs. This ideal to help brand promote products to the right target customers. Slide 21: For promotion content on social media, BAEMIN based on the lifestyle and interest of the young generation to create content, using fun words play and jokes to drive the audience’s attention. Slide 22: With BAEMIN’s popularity and the number of users in Hanoi now, we would say that this brand service is quite successful, even though they’re the late joiner. BAEMIN did a good job on research and observe what expectations consumers in Hanoi have towards the food delivery services, and also the steps consumers follow in making purchase decision criteria, therefore developing a suitable marketing plan, which includes the STP and 4Ps as we analyzed. To conclude, we all agree this is a great example for us to understand the crucial role of consumer behavior in building an effective marketing strategy. Slide 23 + 24: Here is our references used for today presentation. Slide 25: And this is the end of our presentation, thank you all for your time....