Brand Management Final Project For Vinamilk PDF

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UNIVERSITY OF ECONOMICS AND FINANCEFINAL PROJECTIMC Plan for New BrandVINAMILK HEALTHY MILK TEACourse: Brand ManagementLecturer: Dang Truong Thuy AnhClass: A06EGroup 3Le Kim Ngan – 185040599Tran Anh Thu – 185120033Phan Phuc Hai – 195041706Nguyen Thi Thao – 185050114Tran Thi Kim Ngan – 195041990Pham ...

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UNIVERSITY OF ECONOMICS AND FINANCE

FINAL PROJECT

IMC Plan for New Brand VINAMILK HEALTHY MILK TEA Course: Brand Management Lecturer: Dang Truong Thuy Anh Class: A06E

Group 3 Le Kim Ngan – 185040599 Tran Anh Thu – 185120033 Phan Phuc Hai – 195041706 Nguyen Thi Thao – 185050114 Tran Thi Kim Ngan – 195041990 Pham Nguyen Quynh Nhu – 185120210

November, 2021

BRAND MANAGEMENT – GROUP 3

ACKNOWLEDGMENT

Firstly, we would like to thank the University of Economics and Finance for creating good conditions for our group to complete this project. Secondly, we would like to send our sincere thanks to Ms. Dang Truong Thuy Anh (Teacher of Class A06E). The teacher enthusiastically guided us to complete the final project this time. We would like to express our deep thanks to all the teachers who have taught and equipped us with valuable knowledge during the past years - University of Economics and Finance. Sincerely thanks!

Ho Chi Minh City, November 2021

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TABLE OF CONTENTS 1. Introduction .............................................................................................................................. 5 2. Current Situation Analysis ........................................................................................................ 8 2.1 Market Analysis ................................................................................................................... 8 2.2 Background Rearch & Analysis .......................................................................................... 8 2.2.1 Internal analysis ............................................................................................................. 8 2.2.2 External Analysis ......................................................................................................... 14 2.3 SWOT Analysis ................................................................................................................. 21 2.4 Key Marketing Problem or Opportunity ............................................................................ 22 3. Key Strategic Decisions include any support material (assumptions, data analysis) ............. 23 3.1 Marketing Objectives ......................................................................................................... 23 3.2 Communication Objectives................................................................................................ 24 3.3 Customer Segmentation ..................................................................................................... 24 3.4 Targeting ............................................................................................................................ 25 3.5 Positioning ......................................................................................................................... 25 3.6 Brand Personality/ Character ............................................................................................. 27 4. Integrated Communication (Creative) Brief ........................................................................... 27 5. Marketing Mix Strategy .......................................................................................................... 31 5.1 4P Strategy ......................................................................................................................... 31 5.2 IMC Master Plan ................................................................................................................ 33 5.3 Detailed IMC Plan Across Media ...................................................................................... 34 5.3.1 Advertising .................................................................................................................. 34 5.3.2 Sale Promotion ............................................................................................................ 35 5.3.3 PR ................................................................................................................................ 36 5.3.4 Digital Marketing ........................................................................................................ 37 6. Timeline................................................................................................................................... 42 7. Campaign Budget .................................................................................................................... 43 8. References ............................................................................................................................... 44

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TABLE OF FIGURES Figure 1. Achievements of Vinamilk. ........................................................................................... 5 Figure 2. Values of Vinamilk. ....................................................................................................... 6 Figure 3. Vinamilk product. .......................................................................................................... 6 Figure 4. Vinamilk product (2) ..................................................................................................... 7 Figure 5. Vinamilk product (3) ..................................................................................................... 7 Figure 6. Vinamilk factory. ......................................................................................................... 11 Figure 7. Vinamilk factory (2) .................................................................................................... 11 Figure 8. Vinamilk factory (3) .................................................................................................... 12 Figure 9. Vinamilk factory (4) .................................................................................................... 12 Figure 10. Management system of Vinamilk. ............................................................................. 13 Figure 11. Nestle – Nestea packaged milk tea. ........................................................................... 17 Figure 12. Hillway Bubble Milk Tea. ......................................................................................... 17 Figure 13. Ajinomoto - Birdy 3in1 Instant Milk Tea. ................................................................. 18 Figure 14. Royal Myanmar Teamix. ........................................................................................... 18 Figure 15. Aik Cheong Classic Milk Tea The Terik Classic 3in1. ............................................. 19 Figure 16. Positioning Map Vinamilk. ........................................................................................ 26 Figure 17. Creative Brief For Vinamilk. ..................................................................................... 30 Figure 18. Place Vinamilk Healthy Milk Tea. ............................................................................ 32 Figure 19. IMC Master Plan ........................................................................................................ 33 Figure 20. Packaging Vinamilk Healthy Milk Tea. .................................................................... 36 Figure 21. SEO Google Vinamilk Healthy Milk Tea. ................................................................ 37 Figure 22. SEO Google Vinamilk Healthy Milk Tea (2) ............................................................ 37 Figure 23. SEO Google Vinamilk Healthy Milk Tea (3) ............................................................ 37 Figure 24. Facebook Ads Vinamilk Healthy Milk Tea. .............................................................. 38 Figure 25. Tiktok Ads Vinamilk Healthy Milk Tea. ................................................................... 39 Figure 26. Tiktok Ads Vinamilk Healthy Milk Tea (2) .............................................................. 39 Figure 27. Youtube Ads Vinamilk Healthy Milk Tea. ................................................................ 40 Figure 28. Youtube Ads Vinamilk Healthy Milk Tea (2) ........................................................... 41

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TABLE OF TABLES

Table 1. SWOT Analysis. (Khiem, 2020) ................................................................................... 22 Table 2. Sales Forecast. ............................................................................................................... 23 Table 3. Price For Vinamilk Healthy Milk Tea. ......................................................................... 31 Table 4. Timeline Table. ............................................................................................................. 42 Table 5. Timeline Table (2)........................................................................................................ 42 Table 6. Budget Vinamilk's Campaign. ...................................................................................... 44

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1. Introduction Vinamilk is a leading nutrition group in Vietnam and has been reaching more than 50 countries, generating over USD 2,5 billion per year in revenue.

Figure 1. Achievements of Vinamilk.

- Vision: "Becoming the number 1 belief symbol in Vietnam about nutrition and health products serving human life." - Mission: "Vinamilk is committed to providing the community with the best and most quality nutrition with its own respect, love and high responsibility to people and society." - Core values: 5

BRAND MANAGEMENT – GROUP 3

"Becoming the leading symbol of trust in Vietnam about nutrition and health products serving human life."

Figure 2. Values of Vinamilk.

- Product: Vinamilk commits to bring customers the nutrition solution with international standards, meeting the needs of consumers with delicious and nutritious products and leading favorite brands in market such as: Vinamilk liquid milk, Vinamilk yoghurt, Longevity sweetened condensed milk, Southern Star Sweetened Condensed Creamer, Dielac powdered milk, Vfresh Fruit Juice, etc.

Figure 3. Vinamilk product. 6

BRAND MANAGEMENT – GROUP 3

Figure 4. Vinamilk product (2)

Figure 5. Vinamilk product (3)

- Outstanding achievements: Internal Achievements: + Top 10 Vietnamese high quality product by Association of Vietnamese high quality products from 1995 to 2020. + Vietnam’s 50 top valuable brands by Forces Vietnam since 2016. + Ms Mai Kieu Lien - Vinamilk’s Chairwoman and CEO was honored with the following noble award: Top 50 most influential women in Viet Nam 2019, Prize “Lifetime achievement” in 2018 International Achievements: +Top 200 ASIA’s best over a billion by Forbes Magazine in 2019. 7

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+ Top 300 most dynamic ASIAN companies since 2016. (VINAMILK, ANNUAL REPORTS, 2020) 2. Current Situation Analysis 2.1 Market Analysis - Market growth: The Vietnamese milk tea market is now growing at a rate of around 20% per year. More than 1,500 milk tea stores and roughly 100 brands compete aggressively in the country. Because of the impact of the covid 19 epidemic, Vietnam's milk tea market is predicted to slow down in the near future, with a natural growth rate of only 5.7 percent per year. That is, the growth rate is only a quarter of what it was during the peak years of 2017 and 2018, when it reached 200 percent. - Market trend: According to market research on milk tea, users and awareness of the product are quite high, as is the frequency of use; 50% of respondents drink milk tea at least once a week. Furthermore, because this is a drink that appeals to Vietnamese tastes and is a rapid, compact, and quick drink, it is easy to transport and handy for those who consume it. - Market need: The current market demand for milk tea is very high when customers drink 1-2 cups/week on average. - Market size: Milk tea is a favorite beverage of young people, students, and office workers aged from 18 to 35, mainly in big cities such as Ho Chi Minh and Hanoi. , Da Nang and mostly focused on female subjects (53%) and young people aged 15-22 (35%). - Market share: With 36% of users, the grindstones are the most popular. Cappuccino and Latte were ranked fourth and fifth, respectively, with 4% and 1% of respondents preferring to use them. Surprisingly, Milk Tea is the second most preferred beverage, with 23% of the vote. This is a strong indicator that this is a high-potential market that attracts a large number of people, causing products with a much longer "older" lifespan to be phased out. 2.2 Background Rearch & Analysis 2.2.1 Internal analysis • 5M - Internal analysis - Money: 8

BRAND MANAGEMENT – GROUP 3

In 1Q2021, consolidated net revenue of Vinamilk reached VND 13,190 billion, completed 21.3% of the annual guidance, of which: Domestic business recorded net revenue of VND 11,178 billion. This result reflects a reduction in the purchasing power of consumers for FMCG products due to the long-term effects of the Covid-19 pandemic. Specifically, according to AC Nielsen, the total value of the FMCG sector contracted by 7% in 2M202. However, the Company has actively strengthened distribution channels, expanded farm network and developed new products in order to catch up with domestic consumption which is expected to gradually recover after the impact of the Covid-19 eases. For Moc Chau Dairy Joint Stock Company (“MCM”), net revenue reached VND 621 billion. Solutions to restructure distribution channels are being actively implemented to increase coverage in both traditional and modern channels. Vinamilk continued to have a successful quarter with export activities when export net revenue reached VND 1,166 billion, up 7.9% YoY thanks to Vinamilk’s persistent companion with and additional incentive programs for export partners in difficult circumstances. Following the success of 1Q2021, export sales in April 2021 are estimated to grow above 30% YoY. In addition, net revenue of foreign subsidiaries was VND 846 billion, in which Angkor Milk1 continued to record double-digit growth. In 1Q2021, according to Plimsoll2 , Vinamilk has been promoted by 6 consecutive ranks on the Top 50 leading dairy companies in the world, reached 36th and is close to the goal of entering the Top 30 dairy companies top of the world. Vinamilk is also the only representative of Southeast Asia on this list. - Material: Vinamilk Fresh milk 100% with immune system support is produced from farm fresh milk mainly sourced from our dairy farms, strictly selected and controlled to ensure food hygiene and safety. Imported raw materials are sourced from the prestigious suppliers of America, Australia, New Zealand, France, etc. Vinamilk has highly paid attention to product quality control and management. The company has therefore applied advanced management systems such as BRC and ISO 17025 to strictly and thoroughly manage all manufacturing stages including pre, mid and post production in order to ensure the quality and safety of Vinamilk's products. In addition, a product tracking system has also been applied to the product recall and the disposal process of faulty products in order to minimize the possible negative impacts on consumers and society. At the end of March 2021, Vinamilk imported 2,100 HF dairy cows from the US to Vinamilk’s new farm in Quang Ngai, raising the average total herd to nearly 33,000 cows. This new farm has the capacity of 4,000 cows on the size of over 100 hectares with the total initial investment of VND 700 billion, being a part of the eco-friendly farm network “Green Farm” that Vinamilk 9

BRAND MANAGEMENT – GROUP 3

has been investing in and developing since the beginning of 2021. As planned, the company will import more than 5,000 highyielding dairy cows to increase the total herd for domestic farm projects this year. In addition, Laos-Jagro dairy farm is expected to start producing milk in 1H2022. - Method: The company's overall goal: + Positioning the brand as a pride of Vietnamese people. + Build new emotional value of Vinamilk brand_ embodiment of life. + Maintain the No. 1 position in Vietnamese market and become one of the 30 largest dairy companies in the world in terms of revenue. Company strategy + Leading in innovation with high applicability. Focusing on the dairy industry and milk-related products, which is the core business that creates the Vinamilk brand. Continuing to research and develop many new products with the aim of innovating, expanding and diversifying the product portfolio on the basis of suiting the tastes and needs of consumers; at the same time bring consumers a rich and convenient experience. + Consolidate the leading position in the dairy industry. Expand penetration and coverage in rural areas with popular product lines, where growth potential is still great. Promote focus on high-end product segments with many added values, especially in urban areas. Continue to build a large and strong domestic distribution system, increase market share and maintain the leading position. + The dairy company that creates the most value in Southeast Asia. Ready for merged and acquisitions (M&A) activities and expand strong cooperative relationships with partners in all three directions of horizontal integration, vertical integration and hybridization. Prioritize looking for M&A opportunities with dairy companies in other countries with the aim of expanding markets and increasing sales. Continue to penetrate new export markets with the strategy of transforming the traditional commodity export model into forms of deep cooperation with distribution partners in new key markets. - Machine: Vinamilk’s research and product development staff always keeps up to date the latest knowledge on technology, as well as surveys the domestic and international market to find opportunities and ideas for product development.

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Figure 6. Vinamilk factory.

The Vietnam Dairy Factory is equipped with modern fresh milk production lines applied stateof-the-art production technology, operated with a completely closed process from raw material input to finished product output.

Figure 7. Vinamilk factory (2)

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Figure 8. Vinamilk factory (3)

After tested for quality, raw milk will be weighed, filtered and entered into a cold storage silo tank system (150 m3/ tank). The warehouse is the leading smart warehouse in Vietnam which has an area of 6000 m2 with 20 entrances and exits, width of 105 m, height of 35 m. It is designed with 17 stores, containing up to 27168 lots. Automatic import and export with 15 Rail guided vehicles (RGV) transport pallets of finished product to the warehouse and then 8 stacker cranes align them to the shelf system. The management of import and export goods is controlled by Wamas software.

Figure 9. Vinamilk factory (4)

The operating system is based on the Tetra Plant Master Automation solution, which is the integration, enables it to connect the entire plant from raw materials to finished products. According to that, people can control every activity in the factory, monitor and control the quality continuously. The Tetra Plant Master system also provides all the necessary data that helps to continuously improve its production and maintain operations. 12

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In addition, Wamas Warehouse Management System integrated ERP management system and Tetra Plant Master Automation solution provides integrated operation of the plant from production planning, material input to the finished product output. - Man power:

Figure 10. Management system of Vinamilk.

Working Motto: + Praise Integrity Honesty in behaviors and in all transactions. + Promote Respect Respect yourself / Respect your colleagues / Respec...