lOMoARcPSD|39474592 THE FINANCIAL UNIVERSITY OF FINANCE – MARKETING FINAL EXAM ASSIGNMENT: INTERNATIONAL MARKETING PLAN FOR COCOXIM COCONUT WATER PRODUCTS TO AUSTRALIA MARKET Subject: INTERNATIONAL MARKETING Subject Class Code: 2031702031202 Member’s Name : Nguyễn Hoài Bảo Trâm – 1921005712 Đặng Bảo Trâm – 1921005710 Nguyễn Thị Bích Huyền – 1921005080 Class: CLC_19DMA02 TP.Hồ Chí Minh – 2021 Downloaded by nhim nhim (nhimbien3@gmail.com) lOMoARcPSD|39474592 TABLE OF CONTENTS TABLE OF CONTENTS. a LIST OF ABBREVIATIONS. e LIST OF TABLES .f LIST OF PICTURES. ABOUT BEN TRE IMPORT-EXPORT COMPANY (BETRIMEX).
FIELD OF ACTIVITY. ABOUT THE PRODUCT. 4 CHAPTER 2: SITUATION ANALYSIS. MARKET ANALYSIS IN VIETNAM AND THE WORLD.
The Situation Of Coconut Water Production In Vietnam. Overview Of The World Market And Export Prospects. REASONS FOR CHOOSING TO PENETRATE THE AUSTRALIAN MARKET. Market The Company Has Not Penetrated But Has The Ability To Export.
Potential Markets And Main Areas Of Activity Of The Company. MARKET ANALYSIS IN AUSTRALIA. 12 CHAPTER 3: ANALYSIS OF INTERNAL ENVIRONMENT. 15 a Downloaded by nhim nhim (nhimbien3@gmail.
17 CHAPTER 4: ANALYSIS OF MARKETING ENVIRONMENT. FIVE - FORCES MODEL. Enterprises Preparing To Enter The Market. Five-Forces Model.
BARRIERS TO ENTRY. Barriers From The Legal Environment. Features of national law. 29 b Downloaded by nhim nhim (nhimbien3@gmail.
Barriers From The Covid 19 Pandemic. Real household disposable income. Consumer sentiment index. 31 CHAPTER 5: MARKETING STRATEGY.
Applying theory to market segmentation for Betrimex. Applying the theory to Betrimex's target market in Australia. Applying the theory to Betrimex's positioning in Australia. MARKET PENETRATION METHOD.
MARKETING MIX STRATEGY. Applying theory to Betrimex's product strategy. Applying the theory to Betrimex's pricing strategy. 47 c Downloaded by nhim nhim (nhimbien3@gmail.
Applying theory to Betrimex's distribution channel strategy. Applying the theory to Betrimex's promotion strategy. EVALUATE, MEASURE AND CONTROL. Applying the theory.
Anticipate Post-Penetration Risk. Exchange rate risk. Logistic and production risks. Estimated Cost For The First Year.
Break-Even Analysis - Even. Sales Forecast For 5 Years. Forecast Costs And Profits For 5 Years. iv APPENDIX 2: REFERENCES.
v APPENDIX 3: ASSIGNMENT SHEET. vi d Downloaded by nhim nhim (nhimbien3@gmail.com) lOMoARcPSD|39474592 LIST OF ABBREVIATIONS Abbreviations Stands for CPTPP Comprehensive and Progressive Agreement for Trans-Pacific Partnership TTC Thanh Thanh Cong UHT Ultra-high temperature HACCP Hazard Analysis and Critical Control Points GMP Good Manufacturing Practices SSOP Sanitation Standard Operating Procedures BSCI Business Social Compliance Initiative EU European Union NOP National Organic Program USDA United States Department of Agriculture JAS Japanese Agricultural Standards System ICS Integrated Cargo System CPI Consumer Price Index VCCI Vietnam Chamber of Commerce and Industry UK United Kingdom QSRs Quick-service restaurants LDCs Less developed countries GMO Genetically modified food PR Public relations APCC Asia-Pacific Coconut Association CAGR Compounded Annual Growth rate ADS Advertising e Downloaded by nhim nhim (nhimbien3@gmail.com) lOMoARcPSD|39474592 LIST OF TABLES Table 1. Potential market analysis. Spending structure of Australian households before the COVID-19 pandemic.
Cross SWOT model of Betrimex company when exporting to Australia. Analysis of the Australian Hofstede model in 2018. Some products of Cocoxim and potential competitors. Criteria in market segment.
Prices Of Competitor's Products. Control Method Table. Estimated Cost For The First Year. i f Downloaded by nhim nhim (nhimbien3@gmail.com) lOMoARcPSD|39474592 LIST OF PICTURES Figure 1.
Betrimex brand logo. Vietnam's drinking and bottled water export potential to Australia .Global Packaged Coconut Water Market. Organization structure of Betrimex. Warehouse of Betrimex.
Elements of the Hofstede model. Australia's Hofstede Model 2018 .Betrimex's 5 Forces model scale for exports of Cocoxim. Key External Drivers 2013 - 2026. Illustration of the positioning chart.
The positioning chart of Betrimex. Original Coconut Water. Organic Coconut Water. Coconut Water With Lotus Seed.
Young Pineapple Coconut Water. Organic Coconut Water With Pineapple Juice. Coconut Water With Citrus Juice. Isotonic drink from fresh coconut water Acai Berry flavor.
Isotonic drink from fresh coconut water. Market share of Supermarket and Grocery Stores in Australia. Template For Running Ads. 58 g Downloaded by nhim nhim (nhimbien3@gmail.com) lOMoARcPSD|39474592 ABSTRACT Among Betrimex products, the main export products are coconut water, coconut milk and virgin coconut milk.
Although exporting to many countries with high and stable export volume compared to other Vietnamese beverage exporters, Betrimex's products have not yet created a foothold, reputation and brand in the hearts of consumers abroad. Therefore, in order to successfully penetrate the international market, it is necessary to have a plan to carry out overseas communication for Betrimex, to help focus on building the brand and towards development in new markets when there is no recognition to promote strongly exploit the market. International marketing strategy involves formulating marketing strategy across a new country. Realizing that the Australian market is a potential market, our team proposed "International marketing plan for Cocoxim coconut water product to the Australian market".
A number of different approaches have been taken in studying international marketing strategy, including situational analysis, analysis of the internal environment, analysis of the external environment, target market description, international marketing goals and objectives, marketing program, evaluation, measurement and control. h Downloaded by nhim nhim (nhimbien3@gmail.com) lOMoARcPSD|39474592 PREAMBLE In the globalized business environment, it is becoming more and more common for businesses to reach out to foreign markets. To succeed in the foreign market requires the business itself to have thorough research and analysis to come up with an effective communication plan to penetrate and expand into the international market. Currently, coconut water is a beverage trend of many countries in the world and Vietnam because consumers choose products of natural origin, without preservatives.
It is estimated that the total revenue from canned coconut water in the world reaches more than 1 billion USD. Grasping demand and trends, Betrimex has launched Cocoxim canned coconut water market with full certifications of quality and variety of flavors. This opens up opportunities for Betrimex, especially in the context of building the Ben Tre coconut brand from Vietnam. With the growth of the world's coconut products industry is forecasted to be up to 25%/year, our team strongly believes in the proposed international market penetration strategy for Betrimex, specifically Australia.
A specific marketing plan will play a decisive role in the smart market penetration of Cocoxim coconut water, rapidly increasing the brand awareness of Ben Tre products - bold Vietnamese homeland in foreign markets. For that reason, our group decided to conduct research on the topic: “International Marketing Plan For Cocoxim Coconut Water Product To The Australian Market.” The content of the plan consists of 6 chapters: - Chapter 1: Introduction - Chapter 2: Situation Analysis - Chapter 3: Analysis of internal environment - Chapter 4: Analysis of marketing environment - Chapter 5: Marketing Strategy - Chapter 6: Conclusion 1 Downloaded by nhim nhim (nhimbien3@gmail.com) lOMoARcPSD|39474592 CHAPTER 1: INTRODUCTION 1. ABOUT BEN TRE IMPORT-EXPORT COMPANY (BETRIMEX) Ben Tre Import-Export Joint Stock Company, formerly known as Ben Tre Import-Export Company, was established in 1976 and officially equitized in 2006 with the trading name Betrimex. The company's head office and system of factories are located in Ben Tre province, which has the largest coconut area in the country with over 70,000 hectares, annually harvesting over 450 million coconuts.
In addition, Ben Tre is also known for its variety of specialty fruits and is especially close to the important rice export center of the Mekong Delta region. Currently, Betrimex has 04 branches, factories and 05 member companies, with a total of 950 employees; total assets is 512 billion VND, total charter capital is 99 billion VND; export turnover reached 48 million USD/year; total export volume of products processed from coconut over 20,000 tons. Betrimex is currently an official member of Vietnam Chamber of Commerce and Industry (VCCI), Vietnam Fruit and Vegetable Association (Vinafruit) and Ben Tre Coconut Association (BTCA). Betrimex brand logo 1.
FIELD OF ACTIVITY - Producing, processing and trading in coconut products, processed agricultural products for export. - Export of agricultural products. - Producing charcoal from dried coconut shells. - Main export markets: Asia, Europe, America & Africa.
2 Downloaded by nhim nhim (nhimbien3@gmail. ACHIEVEMENT After 40 years of construction and development, Ben Tre Import-Export Joint Stock Company (Betrimex) has quickly affirmed its brand name in the field of processing and exporting coconut products. There have been ups and downs, but there have also been outstanding achievements that have contributed to enhancing the value chain of the Vietnamese coconut tree. Creating good quality products for consumers, sharing hands with coconut farmers, and accompanying socio-economic development are always considered the top priorities of Betrimex.
With many activities implemented, Betrimex is honored to achieve outstanding achievements and is now a member of prestigious domestic and international organizations. Domestic achievements have been achieved: HIGH-QUALITY VIETNAM GOODS voted by consumers in 2019, HIGH- QUALITY VIETNAM GOODS with integration standards. TOP 10 TYPICAL BRANDES IN Asia Pacific, SUSTAINABLE ENTERPRISES 2017 Success Factory. International achievements: ORGANIC, HALAL, KOSHER, FSSC 22000, FDA, ISO 14001, OHSAS 18001, ORGANIC JAS.
ABOUT THE PRODUCT Cocoxim is a brand of canned coconut water Betrimex, Ben Tre Import-Export Joint Stock Company (Betrimex). Determined to invest to increase the value of Ben Tre coconut trees, Betrimex invests in a production plant with the world's leading modern technological process of Tetra Pak Group combined with a source of raw materials to ensure good quality. Coconuts are grown and cared for in Ben Tre. Currently, Betrimex is manufacturing and distributing two main product lines: Organic (product made from 100% pure Ben Tre coconut, using Organic ingredients and certified Organic by the US, Europe, Australia, Japan and Korea) including Organic Coconut Water, Organic Fresh Coconut Milk, Organic Virgin Coconut Oil; and Non-Organic (the product is made from 100% pure Ben Tre coconut by advanced technology to help keep the full taste of Ben Tre coconut Green Siamese pineapple juice) including: - Original Coconut water: organic coconut water, original coconut water - Coconut Water With Tropical Juices: coconut water with lotus seed, coconut water with pineapple juice, coconut water with citrus juice, organic coconut water with pineapple juice.
- Coconut milk drink: coconut milk with dark chocolate, original coconut milk, coconut milk with coffee, original coconut milk drink, unsweetened coconut milk drink. - Isotonic drink from fresh coconut water and isotonic drink from fresh coconut water acai berry flavor 3 Downloaded by nhim nhim (nhimbien3@gmail. VISION Determining "Business is a mission not a right", Betrimex's vision is to become the best internal force and standing company in the coconut industry of Vietnam. Concurrency, bring added value to farmers, partners, customers, employees, bring useful values to the social community.
MISSION ➢ For environment Betrimex is committed to adopting new farming methods and modern, friendly, natural production systems to improve the ecosystem. ➢ For partners Betrimex always strives to build trust, co-operate for common development, work hard to maintain that reputation and cooperation. ➢ For farmers Betrimex always sees farmers as companions. Therefore, Betrimex is committed to implementing many policies to ensure the benefits of coconut farmers to jointly explore the potential and increase the value for the people.
➢ For customers Betrimex always pays attention to and aims to bring consumers quality and healthy products. ORIENTED DEVELOPMENT As the first and leading producer of coconut products in Vietnam, Betrimex is making every effort to meet the needs of the domestic market, perform well in overseas distribution and affirm its position in the international arena. In addition to the business goals, Betrimex is aiming for sustainable development, committed to applying new farming methods, modern production, and environmental friendliness to improve the ecosystem: using recycled packaging and an Efficient wastewater treatment system. 4 Downloaded by nhim nhim (nhimbien3@gmail.com) lOMoARcPSD|39474592 CHAPTER 2: SITUATION ANALYSIS 2.
MARKET ANALYSIS IN VIETNAM AND THE WORLD 2.