SGS.Marketing Principles Asm 3 - Brand used was Yomost PDF

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Don't remember the total but got DI. Marketing Principles Asm 3 . Very detailed assignment. Lecturer was hard yet grade is ok...

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Table of Contents I.

Introduction:............................................................................................................3

II.

SWOT analysis: ......................................................................................................3

III.

Target customer: ................................................................................................4

IV.

Differentiation and Positioning: .......................................................................5

a.

Differentiation (109 words) ...........................................................................................5

b.

Positioning: .....................................................................................................................5

c.

Value proposition:..........................................................................................................5

V.

Current 4P performance:.......................................................................................6 5.1.

Product: .......................................................................................................................6

5.2.

Price: ............................................................................................................................7

5.3.

Place:............................................................................................................................8

5.4.

Promotion:...................................................................................................................8

5.5.

Intergration:.................................................................................................................9

VI.

Marketing Objective: ..........................................................................................9

VII.

Marketing Recommendations (2Ps).................................................................9

VIII.

References: ...........................................................................................................11

IX.

Appendix: .............................................................................................................13



Word count: 2189 words

I. Introduction: Royal FrieslandCampina cooperative was founded by dairy farmers in 1871 with the mission “Nourishing by nature” (FrieslandCampina 2021). Joining the Vietnamese market in 1994 under the direction of CEO - Berend van Wel, they provide many trusted brands and products such as Yomost yogurt drink naturally fermented orange flavor - known as its appetizing aroma with healthy ingredients to make people full of energy. It has existed since 2001 and now Yomost stood at the second position with a 14.1% brand share in the market (Figure 1, Eutomonitor International 2020). The ingredients include yogurt 41%, vitamins, fruit juice 5% (YoMost 2017). Moreover, Yomost had gained 100% brand awareness from almost all Vietnamese especially the young generation, proved by campaigns in Valentine 2014, according to Phuong Vi & Nghi Nghi (2014). However, it becomes more difficult as more and more competitors enter the race, so Yomost should put more effort into its marketing strategies to lead the healthy drink category in Vietnam.

Figure 1: Brand Shares of Yoghurt and Sour Milk Products in Vietnam (Eutomonitor International 2020)

II.

SWOT analysis:

STRENGTHS  Company: YoMost has a well-known parent company FrieslandCampina presented in 36 countries with more than 24 000 employees.  Marketing intermediaries: Partnership with Leo Burnett (Marketing Agency) was successful with the “Thích là phải nhích” campaign (LYNCHY 2014). Partnership with a large number of resellers such as Shop&Go, Supermarkets including Big C, Bach Hoa Xanh or Co-op Mart, etc. (Staff Reporters 2017).

WEAKNESSES  Competitors: Several competitors that YoMost need to consider such as Vinamilk (dominance the market 52.4%), TH True yogurt (5.2%) (Euromonitor International 2020, figure 1).

 Technological: YoMost also effectively using technology in their marketing campaigns such as:  YoLove app: YoMost has created a ‘YoLove’ app for customers to confess their love through a digital platform in 2014 (LYNCHY 2014).  “Thích là phải nhích”: To encourage the youth to express their thoughts and interests, Yomost used a social media platform with the slogan to spread the message (Staff Reporters 2017).

OPPORTUNITIES Cultural: In Vietnam, 94% of the adult population spent about 6.5 hours using the Internet (Statista 2019). It is useful as Yomost’s strength of technology. 

The young population in Vietnam has shown a positive interest in healthy foods, especially in yogurt (growth rate of 12% over 2012-2016) (Mintel, cited in Hoang Anh Company News 2019).

THREATS Cultural: Generation Z showed they have a shorter attention span and a different media consumption pattern than previous generations. It is challenging for the current team to update the customer’s tastes (Le n.d)  Demographic: According to WHO, Vietnam is one of the fastest aging countries in Asia ( Help Age International n.d). It can affect YoMost as their target audience is the young population. 

Political: Vietnam has legal acts for advertising and consumption on online platforms that YoMost needs to considered carefully and updated (Appendix 21, THPL 2019). 

III. Target customer: Following the differentiated marketing strategy, based on the Valentine context, they aim to approach the young generation (from 14 to 24 years) who choose a unique, healthy, and beauty care lifestyle, desire to express their love from the middle and upper class, in both urban and rural. According to Mintel (cited in Hoang Anh Company News 2019), the Vietnamese youngs are getting serious about healthy living and tend to pay more for prducts with new technologies, natural flavors, and ingredients. Hence, it has become a lively market for YoMost during these years, especially in 2020 while people are going through the Covid19 pandemic situation. Furthermore, the brand has captured the Digital market early with many advertising on social platforms since their target customer is Generation Z whose lives now revolve around technology (Le 2017). YoMost was known as a famous brand for inspiring

young people with the digital campaign ‘YoLove’ app and ‘First Moment’ music video in Valentines 2014 to encourage the youth “say hello to your secret crush”. As a result, this campaign succeeded in attracting their target audiences stunningly and also increased their sales (with 10,492,320 products sold) and market share (0.2%) (Brands Vietnam n.d). IV. Differentiation and Positioning: 4.1. Differentiation  Product: The design looks quite simple and only has two different sizes: 170 ml and 1000ml. However, this product provides carton paper packaging which is able to recycle despite not changing plastic straws (YoMost 2017).  Image: Through almost contents they have advertised in nearly 20 years YoMost has given Vietnamese people a profound insight about living actively and differently with the unique and well-known slogan “Một cảm giác rất Yomost”.  Distribution: Their products are sold in many channels through 64 provinces in Vietnam in both traditional and modern grocery, and e-commerce stores. Positioning: 4.2. Based on the five significant criteria purchasing drinks in Appendix 1 and all factors are explained in Appendix 2, it could say that price and fat content will affect customer’s buying decisions. 4.2.1. Positioning map: Price and Fat Content

The map above shows that all of the products have affordable prices but YoMost is cheaper than others (Appendix 3-5). The amount of fat content for YoMost is much less than Vinamilk and TH True yogurt, regarding 100ml (Appendix 6-8). Therefore, it is clarified YoMost yogurt drink plays a leading position as providing more beneficial and healthier quality, compared to its competitors in the market based on the convinced factors aforementioned. 4.3. Value proposition:

YoMost’s positioning strategy is ‘more for less’ since the firm provides their customers with the higher benefits for less price compared to its competitors. V. Current 4P performance: 5.1. Product: a. Levels of product:  Core customer values: Those who have an intense awareness of health benefits including improved intestinal health and immune system will seek to dairy products (Chandan, Gandhi & Shah 2017).  Actual product: YoMost has built a strong brand name as recognized easily and are sharing the second position in the sour milk and yoghurt market in Vietnam. Moreover, they provide customers with nutritious ingredients (Appendix 7). YoMost Orange has been purchased in the market with two different sizes.  Augmented product: The packaging of every product always has information from the customer service department with free-to-calls hotline and website in both Vietnamese and English (Appendix 9). b. Product classifications: It is able for consumers to purchase frequently and immediately without comparison (low price) carefully and buying efforts, so it is a convenience product. c. Brand development strategy: Brand extension as having an existing brand name (YoMost) and adding a new product category which is ‘YoMost sour drink with milk iced’. d. Product Life Cycle: YoMost now no longer holding its top one position in the market by the reduction of revenue in recent years (Tran 2019) due to fierce competition from domestic and foreign businesses. Although it is still standing in the top three brand shares, YoMost is reaching the Maturity stage now.  There are some strengths and weaknesses will be evaluated in Appendix 10.

Figure 2: YoMost product’s life cycle (Twest 2019).

5.2. Price: a. Major pricing strategy: YoMost has utilized the competitor based pricing strategy as setting their price similar to its competitors’ pricing strategies (Appendix 3-5). b. Product-mix pricing strategy:  Product line: Setting the price for its products according to flavors: Orange, Strawberry, Mint and Blueberry, Yogurt, Pomegranate. Pomegranate flavor has the highest price as it is the newest and special flavor.

Figure 3: Product line pricing (Lazada 2021) c. Price adjustments strategies:  Discount: YoMost has offered customer many discount based on the quantity product purchased (More discount for larger volume).

Figure 4: YoMost price based on Quanity purchase (Tiki 2021). 

Segmented pricing: There are different prices offered for different product forms.

Figure 5: YoMost price based on product forms (Lazada 2021).



Promotional pricing: Using special events promotional pricing strategy as giving discounts for Tet, Children Day, etc. (Appendix 11, Figure 6).

Figure 6: YoMost discount on Tet season (Lazada 2021). 

There are some strengths and weaknesses will be evaluated in Appendix 12.

5.3. Place: As purchasing in many physical (grocery, Big C, Co-op mart etc.) and e-commerce (Tiki, Shopee etc.) stores, YoMost has applied the Multi-channel distribution system with only indirect marketing channels. Furthermore, YoMost has followed the Administered VMN because they have a few dominant channel participants without common ownership. Due to defining it as a convenience product, an intensive distribution strategy is suitable for the brand. Moreover, there are some strengths and weaknesses will be evaluated in Appendix 13. 5.4.

Promotion: a. Promotion Mix strategies: Applying the Pull strategy, the firm has motivated their customers to seek out their brand by Advertising, Sales promotion, and Public Relations tools. b. Promotion Mix Tools:  Advertising: In terms of traditional advertising, YoMost has displayed many billboards in the streets, bus stations (Appendix 14). They also developed their marketing strategy using digital media such as websites, Facebook, and Youtube. Through all content created on these digital platforms, they spread out the messages to be confident to express their love for all genders.



Public Relations (PR):

Many programs on sustainable milk sector development, green growth, community nutrition, "Den dom dom dom" (Firefly Lantern) study promotion has been actively implemented by the company (Appendix 15, 16) which are known as Corporate social responsibility (CSR). Regarding Buzz marketing, the brand has partnered with famous influencers, KOLs: Suboi, An Nguy for conveying their messages and brand awareness to their audiences.  Sales promotion: On special events, YoMost has offered discounts up to 50% (Figure 3), coupons, free gifts (Appendix 17), and also advertising specialties (limited edition) (Appendix 18) to encourage the purchase. In 2018, this brand provided a promotion under a summer contest concept as giving consumers a code per milk batch to have a chance to receive premium gifts (Appendix 19).  There are some strengths and weaknesses will be evaluated in Appendix 20 5.5. Intergration: Regarding the target audiene is Young generation from midlle and upper-class who will seek for convenience products with health features in affordable prices and also offer widely in different distribution channel, especially E-commerce. Morever, partnering with KOLs may be advantageous for the brand as this customer segment is those who is easily influenced.

VI. Marketing Objective: In 2014, YoMost was remarkably successful with the ‘YoLove’ campaign as their objective was to increase brand awareness as an iconic brand for Valentine with a simple but effective campaign for couples to share their loves. Although they still have run some campaign in recent years, it is not viral as expected. Thus, Yomost should set the new communication objective to enhance the brand awareness to be the top mentioned brand in Valentine by more than 700,000 interactions among young people on Facebook during all the campaign from 30 January to the end of March 2021. VII. Marketing Recommendations (2Ps) For Valentine 2021, Yomost can consider this marketing campaign called “Mượn Yo tỏ tình”. The slogan of this campaign is inspired by the trendy song “Mượn rượu tỏ tình'' of the popular singer-rapper couple - Emily and Big Daddy. Although this song was published at the end of 2018, this song is chosen as the main idea of this campaign due to the influence of Big Daddy and Emily after being judges of King of Rap (KOR) and The Voice Kid (Hai Long 2020). This song became viral (top Youtube trending) in late 2020 after the performance of HIEUTHUHAI (one of the most popular young rappers) in KOR (Thanh Phuc 2020).  Product (4 flavours): Orange for couples, Mint and Blueberry for singles who love themself and not ready for love, Pomegranate for singles who want to find love, and Chocolate (limited edition 2021) for ones who want to confess their love. The slogan for each flavor was carefully chosen from the range of trendy slogans of the year 2020 which shown in Figure 7 (Phuong Phung 2020). Packaging: All white color to hide the color of the surprising present. One pack of products contains a QR code that has one of the four slogans depending on the flavor of the product. The customer (the giver) would know the flavor that they purchase.  Promotion: Collaboration with Big Daddy and Emily. Big Daddy will give Emily a product that contains the QR code, Emily will scan the code to find out what is the

flavor of the product. One virtual design will appear with the color of the original product and slogan. For example, if they purchase a chocolate flavor to confess their love when the receiver scans the QR code will appear with a brown bottle of Yomost and the slogan “Bật luôn công gật đầu” (Figure 7). For attraction, they can create the special choreography for it with the song “Mượn rượu tỏ tình”. This technology is required to be used on Tiktok. This was a trend as few options run on and the special will be the final option. The interesting part of this campaign is it shows the reaction of the receiver and they can share it on social media (including tagging the giver to confess the love). This campaign is suitable for the student, the young generation because it is easy to follow this trend.

Figure 7: Product Reccomendation (Developed for this assignment).

VI.

References:

Bach Hoa Xanh 2021, 'Lốc 4 hộp sữa chua uống hương cam TH True Yogurt 180ml', image, Bach Hoa Xanh, viewed 15 January 2021, . Brands Vietnam 2014, 'YoMost "YoLove"', Brands Vietnam, January, viewed 15 January 2021, . Chandan, CR, Gandhi, A & Shah, PN 2017, Yogurt in Health and Disease Prevention , Elsevier Inc., viewed 12 January 2021,

.

Eutomonitor International 2020, Yoghurt and Sour Milk Products in Vietnam, country report, Euromonitor International, view 8 January 2021, Passport database. FrieslandCampina 2021, About FrieslandCampina, homepage, FrieslandCampina, Netherlands, viewed 8 January 2021, . H.N 2020, 'Từ học bổng đèn Đom đóm, đến hành trình vì một Việt Nam vươn cao vượt trội', image, Mega Story, viewed 17 January 2021, . Hai Long 2020, ''Cặp đôi trăm triệu view' BigDaddy - Emily và Giọng hát Việt nhí New Generation 2021: Màu sắc trending', saostar, 23 December, viewed 14 January 2021, . Hoang Anh Company News 2019, 'Vietnam’s trends in yogurt: healthy interestingly', Hoang Anh Company News, 18 July, viewed 10 January 2021, . kam.vn 2021, 'YoMost', image, kam.vn, viewed 17 January 2021, . Khoi Nguyen 2018, 'FrieslandCampina steps up charity', image, Vietnam Investment Review - VIR, viewed 17 January 2021, . Lazada 2021, '[Siêu thị VinMart] - Lốc 4 hộp sữa chua uống vị cam YoMost hộp x 170ml', image, Lazada, viewed 14 January 2021, . Le, HT n.d, 'Real-time campaign optimization: A case with FrieslandCampina', Decision Lab, viewed 12 January 2021, .

Linh Lee 2019, 'YOMOST 2019 - LETS DO WEIRD', image, Linh Lee, viewed 17 January 2021, . LYNCHY 2014, 'LEO BURNETT WINS BEST IN SHOW FOR SAMSUNG AT VIETNAM’S FIRST SMARTIES MOBILE MARKETING AWARDS', Campaign Brief Asia, viewed 5 November 2021, . Phuong Ha 2011, 'Ngày 1/6: Vui chơi, nhận khuyến mãi "khủng" ở đâu?', Giáo dục Việt Nam, 30 May, viewed 16 January 2021, . Phuong Phung 2020, 'Những status hot trend 2021', Quantrimang, blog post, 19 December, viewed 15 January 2021, . Phuong Vi & Nghi Nghi 2014, 'YOUNG MARKETERS ELITE 2013 - ASSIGNMENT 10.1 PHUONG VI_NGHI NGHI', United States Documents, viewed 9 January 2021, . Ryan, J.M, White, C.H, Gough, R.H & Burns, A.C 1984, 'Consumer Acceptance of FruitFlavored Yogurt Drinks', Journal of Dairy Science , July, vol. 67, no. 7, pp. 1369-1375, viewed 8 January 2021, ScienceDirect database. Shopee 2021, 'Lốc 4 Hộp Sữa Chua Lên Men Tự Nhiên Yomost Vị Cam (170ml/Hộp)', image, Shopee, viewed 15 January 2021, . Shopee 2021, 'Lốc 4 hộp sữa chua uống Yomilk Vinamilk vị dâu/cam 180ml', image, Shopee, viewed 15 January 2021, . Shopee 2021, 'Sữa chua uống tiệt trùng TH True Yogurt - Lốc 4 hộp 180ml', image, Shopê, viewed 15 January 2021, . Staff Reporters 2017, 'How FrieslandCampina got 32,000 selfies and 230% ROI ', campaign, 17 October, viewed 10 January 2021, . Statista 2019, 'Ownership of devices among internet users in Vietnam as of 3rd quarter 2019, by device', chart, Statista, viewed 10 January 2021, . Thanh Phuc 2020, 'Sân khấu 'Mượn rượu tỏ tình' của bộ ba HIEUTHUHAI - Emily - RIGHT 'băng băng' trending Youtube với lượt view 'khủng'', saostar, 17 October, viewed 14 January 2021, .

thienbachminh n.d, 'Đường Nguyễn Tri Phương, Công viên 23/9', image, thienbachminh.vn, viewed 17 January 2021, . THPL 2019, 'Nhiều vi phạm trong sản xuất, kinh doanh tại Côn...