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Marketing plan for Trung Nguyen coffee company.

Extracts from this document...

Introduction

Marketing plan for Trung Nguyen coffee company. Executive Summary Trung Nguyen is the premier brand of coffee in Viet Nam- the second largest exporting coffee country in the world after Brazil and the world's biggest producer of Robusta coffee beans. Our strategy is to spread the reputation of our coffee label well beyond Vietnam's borders. Hence, having taken the domestic market by storm with over 400 outlets, Trung Nguyen is looking to go global. In the present, our company has dipped the toe in more than 40 nations in America, Europe, Asia, Oceania; accounting for 20% of output such as United States, Germany, Australia and Canada, Taiwan, Russia, Hong Kong, China, Japan, Thailand. In part company's strategy to become a competitive brand in the world coffee market, we are on the brink of launching our products into a lucrative market in a dynamic economy- South Korea. The current trend towards an increase in the number of entrepreneurs and competition amongst existing companies presents an opportunity for Trung Nguyen to penetrate the market. Our Trung Nguyen's goal is to become the leading brand of coffee by selling the finest quality coffee and by providing each customer a unique "Vietnam Experience". Primary target markets will be students, yuppies, professionals and retail stores. Coffee chain Trung Nguyen's products will be positioned at the high end of the market in terms of both quality and price. Our marketing strategy will be based mainly on Trung Nguyen's most special coffee formula: Good material, modern technology, Oriental secret and new concept of coffee. Hence we intend to implement a market penetration strategy that will ensure that we are well known and respected in our respective industry in Korea. The marketing effort will convey the sense of quality and satisfaction in every picture, every promotion, and every publication. Trung Nguyen is primarily targeting a market share of 15% in our initial year. ...read more.

Middle

1.3 COMPANY ANALYSIS 1.3.1 Mission Statement "Creating the leading brand is carried out by bringing to everyone dirking coffee a source of creative inspiration and pride of Trung Nguyen's style being rich in Vietnamese culture" 1.3.2 Company objectives 1. Market Share Objectives: To gain 15% of the market share by August 2010. 2. Profitability Objectives: To achieve a 10% return on capital employed within first 3 years. 3. Promotional Objectives: To increase customer awareness of different available coffee products on the market. 4. Objectives for Survival: To survive the current market war between competitors. 5. Product quality leadership with consistent quality and good taste, beautiful aroma- perfume. 6. Open 7 outlets over Korea during the first year, strive to give more franchises. 1.3.3 Product description: premium and differentiated coffee products served with Vietnam style. 1.3.4 Strengths 1. Employees are committed and talented with strong national spirit. Mr. Dang Le Nguyen Vu- the CEO of the company won ASEAN Youth Award 2004 - Theme "Youth and Entrepreneurship" 2. Trung Nguyen is a coffee manufacturer receiving certificate of EUREPGAP- the world's most widely implemented farm certification scheme. 3. Best brand of Coffee and biggest exporter of processed coffee in Vietnam - the world leading country of exporting Robusta coffee beans and the second largest coffee exporter in the world after Brazil. 4. High production capacity: Trung Nguyen coffee company owns 1 processing plant reconstructed on October, 2003 with capacity 10,000 tons per year and1 instant plant began to operate on October 18, 2005 with capacity of 3,000 tons per year in Vietnam. 1.3.5 Weakness: marketing budgets are tiny compared with established players. Lack of brand awareness: Our brand and image have not yet established in Korea. 1.4 IMPLICATION OF SITUATION ANALYSIS 1.4.1 Key success factor: offers customer a cozy, comfortable aesthetic ambience to sit and socialize, high quality coffee and Vietnam coffee culture. We believe playing up their Vietnamese origins sets us apart. ...read more.

Conclusion

> We also conduct promotion by print advertising such as magazine, newspaper. > In addition, Trung Nguyen will create a sophisticated website by Korean language to improve communication capabilities, and provide information about Trung Nguyen. Our website also allows the customer a place to post and share idea about Trung Nguyen. 4.0 BUDGET 4.1 Forecast Sales:( 1$= 1285.44 KRW on 10/7/2009) Sales Year 1 Year 2 Year3 Coffee beverages 225,132,500 KRW 247,645,000 KRW 27,241,000 KRW G7 coffee instant 56,278,000 KRW 61,900,000 KRW 6,102,500 KRW Food, etc 93,805,000 KRW 103,185,500 KRW 138,504,050 KRW Total Sales 375,215,500 KRW 412,730,500 KRW 454,016,550 KRW Direct cost of sales Year 1 Year 2 Year 3 Coffee beverages 56,283,000 KRW 61,911,300 KRW 68,102,500 KRW G7 Coffee Instant 28,141,500 KRW 30,955,650 KRW 34,051,215 KRW Food, etc 46,902,500 KRW 51,592,750 KRW 56,752,025 KRW Subtotal Direct cost of sales 131,327,000 KRW 144,459,700 KRW 158,905,920 KRW Sale Forecast:(KRW) Direct Cost of sales forecast:(KRW) 4.2 Forecast Profitability: 20,110,250 KRW per month. 5.0 IMPLEMENTATION AND CONTROL 5.0 Action Program: To meet local tastes or preferences, Trung Nguyen can act local, for example, by introducing alcoholic beverage for special happy hour set. Traditionally Korea is huge alcohol consuming culture as well as coffee. High margin of beer, wine or cocktail may help Trung Nguyen match local tastes and preferences, most importantly, can boost our revenue. Besides, we align with local company to distribute product and increase franchise. Employees will be trained to understand our products and consult customers about kinds of coffee. 5.1 Control: We are planning special control activities to monitor quality and customer service satisfaction. This will enable us to react very quickly in correcting any problems that may occur. We are also monitoring customer service communications to detect any signs of customer concern or confusion. Other early warning signals that will be monitored for signs of deviation from the plan include monthly sales (by segment and channel) and monthly expense. In addition, we are tightly controlling marketing schedules to assure timely implementation of planed program. ...read more.

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