SEO Case Study: How I Increased SEO Traffic & Ranking by 50-60% in 6 Months
Global marketing - Exporting Delifrance RTE meals to Vietnam market
1. SINGAPORE POLYTECHNIC
SP BUSINESS SCHOOL
AY 2014/15
SEMESTER 2
GLOBAL MARKETING STRATEGY
BA 5121
ASSIGNMENT REPORT
A GLOBAL MARKETING PLAN
FOR
Délifrance Singapore Pte Ltd – DELICIOUS Beef Bolognaise Pasta
SUBMITTED BY:
Name: Catherine Ann Pan
Admin No: 7183948
2. Table of Contents
Company Background................................................................................................................1
Vietnam as target country..........................................................................................................1
General Information...............................................................................................................1
PEST Analysis - Political...........................................................................................................2
PEST Analysis – Economical ....................................................................................................2
PEST Analysis – Social .............................................................................................................4
PEST Analysis – Technological ................................................................................................4
PRODUCT.................................................................................................................................5
Core Component ....................................................................................................................5
Packaging Component............................................................................................................6
Support Services Component.................................................................................................7
PRICE ........................................................................................................................................7
PLACE.......................................................................................................................................8
PROMOTION..........................................................................................................................10
ANNEX A – PHYSICAL PRODUCT ....................................................................................12
ANNEX B - PRODUCT PACKAGING .................................................................................13
ANNEX C – PROBABLE PRICING IN CURRENT COG....................................................14
ANNEX D – PROPOSED PRICING SCHEME .....................................................................15
ANNEX E – SAMPLE FRIEGHT FORWARDER QUOTATION........................................17
ANNEX F – DISTRIBUTION FLOWCHART ......................................................................18
ANNEX G – SAMPLE PROMOTIONAL IDEAS .................................................................19
ANNEX H – CONTACT DETAILS .......................................................................................20
References................................................................................................................................21
3. 1
Company Background
Délifrance Singapore Pte Ltd is a manufacturer and trading company of bakery products for
wholesale customers. Their centralized bakery and kitchen facility specializes in artisan breads, French
pastries, desserts and ready-to-eat meals using the sous vide cooking process on a commercial scale. Their
main products are cakes and business range includes noodles and pasta. It began its operations in
Singapore in 1983 and had opened their first Délifrance Café at Clifford Centre in 1985. Now, they have
expanded the chain from a wholesale business to a national icon for more than 140 outlets spanning
Singapore, Hong Kong, Malaysia and Brunei. They have more than 40 branches in Singapore alone and
have been in partnership with other convenient stores like Cheers to sell their line of “Delicious” ready-
to-eat meals. The food retailing business has been 100% acquired by Auric Pacific Group Limited
(APGL), an investment holding company with diverse business interests ranging from distribution of fast
moving consumer food, food manufacturing and retailing, management of restaurant and food court
operations to other strategic investments including fund investment in December 2007. Refer to Annex H
for related website and company branches.
Vietnam as target country
General Information
Official Name: The Socialist Republic of Vietnam Capital name: Hanoi
Major cities: Hanoi, Ho Chi Minh City (Saigon), Time zone: UTC + 7 hours
Haiphong, Da Nang Area: 331,210 sq. Km
Principal industries: Food processing, garments, shoes, machine-building; mining, coal, steel; cement,
chemical fertilizer, glass, tires, oil, mobile phones
Demographics
Vietnam’s fast-growing market with population of about 90 million is expected to reach 100
million by 2020. 60% comprises the younger population where 42% are below 25 years of age providing
perfect opportunity to attract younger generations to our product.
4. 2
The rapid rise of the middle class, urbanization and rising income levels has resulted to modern
lifestyles increasing consumer demand for products which can provide more convenience to save time.
Vietnam also has a large female working population (49%), making the female consumer ever more
important.
PEST Analysis - Political
Strengths
Foreign investors are coming back and have regained confidence to the country’s political stability. It is
now in fact one of the leading investment destinations in ASEAN according to Vietnam Finance and
Business 2014 report.
Weaknesses
Lack of transparency, uniformity and consistency in government trade policies and decisions on
commercial projects, “tied” official development assistance and rampant corruption.
Opportunities
For further reduce tariff in importing processed foods in line with accession to WTO in January 2007.
Foreign trading services existing in Vietnam permitted to engage in import, trading and distribution
services provide better opportunity for related foreign investing company.
Threats
Strict regulations on food imports especially involving meat and processed foods.
PEST Analysis – Economical
Strengths
Vietnam's annual GDP growth remained higher than 5% from 6.4% (2010), 6.2% (2011), 5.3% (2012),
and 5.4% (2013) to 5.5% (2014). Inflation rate has been getting lower according to World Bank from
12.1% (2010), 21.3% (2011), 10.9% (2012), 4.8% (2013) and 1.84% (2014).
5. 3
Multinational presence gained from increased integration with the global economy caused by foreign
brands proliferating all over Vietnam so people are aware of foreign brands.
There’s a rising growth of supermarkets, hypermarkets, grocery retailers and convenience stores showing
increasing acceptance of modern retailing.
Weaknesses
Private firms may prefer not to disclose assets and funding sources (let alone liabilities) so there’s a lack
of financial transparency and poor corporate disclosure standards.
Some agencies or enterprises are not properly authorized to enter into a specific transaction.
Opportunities
Modern retail is currently focused on the major urban centres with quick evolving commercial
environment. It had contributed to high growth in retail sales in the packaged food market.
There has been an increasing spends on Ready Meals from 2006 to 2014:
Figure 1 – Packaged Food Spending in Vietnam
Threats
Retail food market is still largely dominated by traditional wet markets and small independent stores ideal
for small-quantity/high-frequency food purchases.
Business customs similar to those of China, Japan and Korea prolonging business deals includes long re-
negotiations, consensus building and the zero-sum game assumption.
6. 4
PEST Analysis – Social
Strengths
There’s a general hierarchy of perceived quality on food based on country of origin. People have high
regard for foreign food’s quality and are willing to pay for its premium price.
Weaknesses
Consumers are highly price sensitive in buying decisions.
Advertising is heavily regulated by government causing most delays in promoting the product.
Opportunities
Consumers have little brand loyalty and are more open to trying out new products.
Growing number of tourists visiting the country contributes as market for foreign processed foods.
Threats
Outbreak of diseases such as bird flu, SARS, blue-ear disease among others on animals for consumption,
recent product recalls and high-profile safety issues from manufacturers in Asia heightened consumer
awareness.
PEST Analysis – Technological
Strengths
The modern food processing and preserving sector is still a young industry in Vietnam, but constitutes a
market with great potential for foreign companies.
Weaknesses
IPR climate is unstable. Wide variety of consumer products bearing false or misleading labels (counterfeit
labels) are readily available in the market. There’s a need to secure IPR in the target country.
7. 5
Opportunities
Internet retailing recorded rampant due to rising popularity of independent consumer-to-consumer stores
and business-to-consumer increasing potential of internet retailing in Vietnam and probably bypassing
other distribution channels for more revenues.
Threats
Each time, authorities responsible in food safety of import products conduct research if there are any
lapses from approved food guidelines. This can be a threat if the current innovation of the product will not
meet the standard requirement should there be any changes.
PRODUCT
“Delicious” ready-to-eat meals come in varieties ranging from pasta, meat, soup, rice and mashed
potatoes. We’ll be focusing on “Delicious” Beef Bolognaise Pasta for this project.
Core Component
Physical product – frozen cooked Beef Bolognaise Pasta.
Ingredients: Spaghetti (durum wheat semolina), tomato puree (tomatoes, tomatoes juice, citric acid),
minced beef, mushroom, onion, parmesan cheese [milk, starter culture, salt, enzyme (Rennet)], garlic,
olive oil, salt, pepper, aromat [salt, monosadium glutamate, lactose, corn starch, yeast extract, palm
fat, onion, anti-caking agent (E551), spices].
Benefit:
o High class food in affordable price
o Easy to cook restaurant-like meal
Refer to Annex A for the actual before and after cook product pictures.
Design
The dish is served in a microwavable black oval container, frozen and covered with plastic on top
that’s needed to be peeled off before heating in the oven. Plastic spoon and fork is provided as well. After
8. 6
heating will show a red pasta dish, taste is French inspired, a bit sour, and less greasy. The tomato juices
really stand out and you can taste the actual beef and mushrooms from the dish.
Features
The product is Halal certified and is applied with High Pressure Processing (HPP), a non thermal food
process technology that allows ready-to-eat (RTE) meals made with meat, seafood, fish, vegetables or
carbohydrates to obtain longer a safer shelf-life while preserving the homemade taste and avoiding
overcooking. The technology helps maintain the product’s taste and juiciness and destroys microorganism
without any changes in taste or flavor comparing to the original product.
Packaging Component
Annex B shows the current product packaging. Vietnam is very strict when it comes to product
labeling so we need to apply changes on the packaging. Imported goods require user’s instructions in
Vietnamese either in the labels or in the documents attached to each product unit except for contents that
are presented in their Latin origin such as the brand and dish name, and other basic particulars such as
manufacturer/distributor information. In Vietnam, the dish is considered as irradiated food because of the
process used to expose food to ionizing that kills bacteria (but not viruses), extends shelf life, and kills
pests like fruit flies. Food preserved by irradiation methods and circulating within the territory of Vietnam
must be labelled "food preserved by irradiation methods" in the Vietnamese language or be labelled with
an international symbol. They also require using expiry date of food to be represented on the labels,
depending on category of products, in this case, with phrase "thực phẩm đã qua chiếu xạ" [irradiated
food], phrase "hạn sử dụng" [use expiry date], "sử dụng đến ngày" [using until date] or "sử dụng tốt nhất
trước ngày" [best used before date]. Ingredients must be listed in descending order of volume or content
(volume percentage), and must include their international code (if any). For further reference, check out
the Food Law in Vietnam cited in the reference section.
We suggest applying for trademark in Vietnam particularly for this product as the IPR climate there is
unstable. The quality of the product is almost comparable to CP (Charoen Pokphand) ready-to-eat meals.
9. 7
Support Services Component
Cooking instructions are already provided in the packaging. In case of damaged product,
consumers can always go back to the convenient store for replacement. We ensure to deliver high quality
products and as soon as the products are imported from the customs, it’s up to the distributors and
retailers who have greater control over the product in keeping it at its best for human consumption. We
also propose to have Facebook account and website indicated in the packaging to gather feedbacks and
suggestions online.
Legalities required by Vietnam to import:
1. Get Certificate of Standards of Goods issued by the MOH;
2. Certificate of Satisfaction of Food Hygiene and Safety Requirements by MOH; As of the date that
food materials and food additives are imported, the expiration date must be over two-thirds of the
total useful life as inscribed on the label;
3. Unprocessed food that has any animal or plant origin must receive phyto-sanitary certificates
granted by competent Vietnamese state agencies. (Not required for our product)
PRICE
Competitor pricing has been considered for the RSP as listed below:
Product Price range of competitors Currency
Rice burgers 30,000 - 50, 000 VND
Friedchicken 25,000 VND
Pastasin restaurants 100,000 - 495,000 VND
Fast foodmeals 60,000 VND
Figure 2 – Competitor pricing
Our product is a ready-to-eat high class meal and therefore, we would like to position our possible
retail pricing from 80,000VND – 95,000VND.
The probable cost of goods (COG) has been determined to check if current prices will match our
target RSP. It turns out that the COG, shipping and import duty of the product from Singapore will only
10. 8
make our products cost higher than our expected target RSP in exporting to Vietnam, considering that the
import duty is 35% while the sales tax is 10%. For that, we suggest that we cut the resources be it the raw
materials or operations costs so as to meet the pricing which can result to our target RSP.
Below is a sample profit distribution we’re looking at in order to meet our target RSP:
Channels Investment Gross Profit
Profit
Margin
If investment is
depositedin the bank
Manufacturer SGD2,500.00 SGD2,650.00 50% SGD18.75
Export ManagementCompany SGD5,350.00 SGD1,222.00 17% SGD40.13
ForeignDistributor 439,758,029.40VND 105,541,927.06VND 18% 31,926,432.93VND
Retailers 580,480,598.81VND 621,114,240.72VND 64% 42,142,891.47VND
Figure 3 – Proposed profit distribution and investment
The table shows the amount of investment of each channel and the profit they’ll possibly get if
they invest with us versus the amount of interest they’re going to if they invest in bank.
For a detailed computation and explanation on how were able to obtain the target RSP, refer to
Annex C and D. We can forecast our product pricing on product life cycle stages as:
Product life cycle stages Price
Introduction Stage
initial stage where productiscominginfromSingapore 95,779.30VND
Growth stage
producthas beensuccessful andafactory hasbeenestablishedinVietnam 70,000VND
Maturity Stage
competitorhasout-runourproduct 40,000VND
Decline Stage 20,000VND
Figure 4 – Probable pricing in product life cycle stages
We will use variable cost-plus pricing where we will establish the selling price by adding a
markup to total variable costs with expectations that the markup can meet all or part of fixed costs and to
generate some level of profit. This is applicable to the “buy and sell” arrangement we’re planning towards
our chose export management company to handle and distribute our product to Vietnam.
PLACE
Our company has a manufacturing, distribution and marketing department which makes us
capable to supply directly to our chosen channels in Singapore. We plan to have a buy-and-sell
arrangement to our chosen export management company that acts as a distributor where they will buy the
11. 9
product from us at a set price and resells to foreign customers at prices they want to establish. We may
not have control over the export price but we would like to insist on working closely with the principals
on both pricing and customer relations. This will help us know of any adjustments needed to be done on
the product.
Annex F shows the flowchart of the proposed global distribution plan of the product. We will use
an export management company (EMC) that acts as distributor to enter the international market with a
minimum amount of effort. Since this will be the company’s first product in Vietnam, we need experts in
foreign trade, someone who can recognize the strongest market for our product, best sales strategy to
utilize in the market and well-established networks of foreign distributors already in place. To avoid risks
of losing control over foreign sales, we expect to find an EMC who can meet the company’s needs and
maintain communication. Capability to acquire regular reports on the efforts employed to sell our product
and ability to set provisions which require approval before certain activities will be carried out are some
of the important issues we would like to negotiate with the EMC before contracting the agreement. We
aim to market the product as a middle-class lifestyle choice. It will say more about Vietnam’s status as a
“middle income nation” which points out to economy than the culture. We also cater to provide for young
and busy consumers to obtain high class food in a most convenient and affordable way, therefore,
convenient stores are the most preferable end-retailers for our product as these are mostly the stores our
target consumers go to. It is very important that distributors involved in the channel have networks with
most convenient stores in Vietnam.
We see internet retailing as an opportunity but not at this time. Since we are just new in the
market, we prefer to cater only to EMC as they know how to place our product in the market. Internet
retailing can be considered during the growth stage of the product where costs will be further lessened.
In the event that the product will be successful, thoughts of opening a factory in Vietnam is
possible where we can save from the import tax, skip some level of distribution channels and make use of
the opportunity that the country has its own agriculture which we can get our resources from instead of
importing from other countries as what we currently do here in Singapore.
12. 10
PROMOTION
Target Demographics:
- Young and middle aged population -
- ages 18 – 25 years old
- Working with middle income household
- - Busy and tired most of the time
Below are possible promotional activities based from the PEST conducted in researching for this project:
1. Over 90% of Vietnam’s urban population own televisions and nation-wide penetration is
approximately 87% so TV advertisements is a perfect way to create consumer awareness on the
product.
2. Vietnam’s high literacy rate supports print media’s growing popularity as an effective channel for
advertising. We can make use of newspapers, magazines, flyers and even billboards. In-store posters
are highly suggested as well to be placed in front of convenient stores. Promotions such as discount
for a combo meal or contests can gather more purchases of the product.
3. Vietnam has a lot of traditional festivals every year. This is a good opportunity for marketing
activities.
4. Numerous trade fairs covering broad range sectors which generally becoming a more attractive and
sophisticated method for product promotion and industry networking
5. Generate demand for the product through campaign software or social media.
Vietnamese consumers were scared by recent food scandals and therefore value safe and toxin free
foods from trusted brands. Strong imagery of success and achievement can also be best associated with
the brand. It is very important to capture the trend in planning promotions and build this proposition into
the product. Refer to Annex G for a few promotional ideas.
13. 11
Legalities
Application for permit and business registration certificate for advertiser
Certifications acquired during import
Truthful, accurate and correct content of advertisement in pertaining to product details and quality
Require Vietnamese language if advertisements are delivered in public area.
Previously, foreign businesses must have representative offices or branches in Vietnam to directly
advertise their products, or else they must hire an advertising agency established in Vietnam to do
the job. Now, this has changed and foreign businesses can advertise for their product directly.
Marketing materials including labels and catalogues must be in Vietnamese. Foreign languages
(except trademarks) can also be used but the font size must be smaller than that of Vietnamese
language.
14. 12
ANNEX A – PHYSICAL PRODUCT
Before and after cook images of the product
16. 14
ANNEX C – PROBABLE PRICING IN CURRENT COG
The Cost of Goods (COG) as purchased by Cheers from the manufacturer has been determined by
separating the margin profit from the RSP without GST. Based from the RSP of Delicious Beef
Bolognaise meal from Cheers, it could be anywhere between $3.07 - $3.08:
The process to get the markup was based from the Convenience Store Markup Percentage
memorandum by United States Department Interior. From the COG determined, we came up with
probable MSRP which we also used to determine how much our product will likely sell if we use the
same COG for the exports:
Minimum Order: 10, 000 pieces
Discounts: 40%-50% expected discount channels want to get
Variable cost (4%) Promotion (4%)
Shipping + Insurance fee: 10,455 (Refer to Annex E for quotation we received from freight forwarder)
Manufacturer:
EMC:
Foreign Distributor
Retailers:
RSP = 265,213.42 VND (too high for our expected RSP)
17. 15
ANNEX D – PROPOSED PRICING SCHEME
Below is a sample price scheme towards all channels to obtain target RSP:
Manufacturer:
For our market entry, we are willing to make 10,000 pieces per bulk order where we can give 50%
discount to our chosen EMC. Since our raw material costs 0.25/piece if we make 10,000 pieces, we can
mark it up to 400%. Our Variable and Promotional costs are set to 4% each (this is a standard percentage
we gathered based from our interview with managers). The gross profit obtained is SGD2, 650.00 which
is around 50% profit margin. This is a good investment compared to the interest rate you’ll get if you
would deposit SGD2, 500 into the bank which can only give you SGD18.75 annually at 0.76% interest
rate.
Export Management Company:
The variable and promotional costs are applied the same as from the manufacturer. From the EMC, they
can sell the goods for SGD7,000 to gain gross profit of SGD1, 222.00 which is around 17% profit margin.
This is higher compared to if they deposit SGD5, 350 into the bank which can only give them SGD40.13
annually at 0.76% interest rate.
Foreign Distributors:
Import fee has to be considered by the foreign distributors into their costs. For 10,000 items they’ll get at
SGD7000, the total value of the product will be at SGD25,920.368 or 439,758,029.40VND. The shipping
rate and insurance fee were based from the sample quotation we have from a freight forwarding company.
Current currency conversion: 1SGD = 16965.53VND
18. 16
Total import duty: Import Duty + Sales Tax
Import duty: 35% of Total Invoice (Cost of goods + Shipping Fee and Insurance)
Sales Tax: 10% (Total Invoice + Import duty)
Foreign distributor can mark up the price for as high as 200% so that they can still provide at least 40%
discount to their retailers. The gross profit obtained is 105,541,927.06VND which is around 18% profit
margin. This is higher compared to if they deposit 439,758,029.40VND into the bank which can only give
them 31,926,432.93VND annually at 7.26% interest rate. Again, the variable and promotional costs are
set at standard percentage to 4% each.
Retailers:
The usual mark-up pricing from the retailers is at 50%. VAT is applied at 10%. Same variable and
promotional costs set at a standard percentage to 4% each. The gross profit obtained is at
621,114,240.72VND which is around 64% profit margin. This gross profit is still higher compared to if
they deposit 580,480,598.81VND into the bank which can only give them 42,142,891.47VND annually at
7.26% interest rate. The RSP is 95,779.30VND.
The pricing should be adjusted in case the variable and promotional costs exceed 8%. Currently, there are
about 309 convenient stores in Vietnam by which, if one distributor caters to them all, each store should
have about 32 items. We expect our EMC to have different distributors catering to all if possible or most
of convenient stores in Vietnam. This way, they will have more options as to where to distribute the
products in case one store won’t order or doesn’t order as much.
23. 21
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dvertisements+in+vietnamese+language?&source=bl&ots=20FW-
tkWYE&sig=0_SgCKlmTinO0kxU9RJIjtiX1D0&hl=en&sa=X&ei=GyXTVMiVLszxaqDXgMAG&ved=0CCsQ6A
EwAg#v=onepage&q=does%20vietnam%20require%20the%20advertisements%20in%20vietnamese%20language%3
F&f=false on February 5, 2015