MARKETING PLAN COFFEE SHOP IN HO CHI MINH CITY

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Bài Assignment mẫu: MARKETING PLAN COFFEE SHOP IN HO CHI MINH CITY

Table of Contents

EXECUTIVE SUMMARY 3

1. INTRODUCTION 4

1.1. Business overview 4

1.2. Industry overview 4

2. MARKET ANALYSIS 5

2.1. Environmental factors 5

2.1.1. PESTLE analysis 5

2.1.2. Five Force analysis 6

2.2. Competitors analysis 7

2.3. Target markets 8

3. MARKETING PLAN 11

3.1. Market segmentation 11

3.1.1. Geographic 11

3.1.2. Demographic 11

3.1.3. Psychographic 12

3.1.4. Behavioural 12

3.2. Marketing mix 13

3.2.1. Product 13

3.2.2. Place / distribution 14

3.2.3. Price 14

3.2.4. Promotion 14

4. Operational plan 15

4.1. Operation Business 15

4.2. Sale forecast – Cash flow – Income Statement 16

4.3. Break even point 18

REFERENCES 20

APPENDIX 1: COFFEE CONSUMPTION SURVEY – QUESTIONAIRE 22

APPENDIX 2: COFFEE CONSUMPTION SURVEY – RESULT 24

EXECUTIVE SUMMARY

The Vietnamese have an obsession–and for good reason–with coffee love. Hallowed, roasted beans are special and their flavor is the best in the world. Ho Chi Minh City in particular has a host of cafes in its districts and can get overwhelming with so many to choose from. Saigon is a very pleasant coffee community. Saigon people not only want coffee a snack, but it’s also a sort of beverage.

Over a decade, the coffee market in Vietnam is strong and coffee brands are increasing their national presence. Therefore, this marketing plan aims to deliver a projection to open a coffee shop in Ho Chi Minh City, the largest economic city with an increasing young population. This city promises a competitive but profitable business. The business aim to operation under franchising basis. There is a financial statement embedded prior to forecast the possibility of the plan.

1. INTRODUCTION

1.1. Business overview

Vietnam has been popular with the coffee culture. The coffee consumption in Vietnam has been a remarkable rate comparing any other nations worldwide. Therefore, reflecting the increasing demand for coffee these days, this business plan is to draw up a start-up coffee shop, located in Ho Chi Minh City, one of the largest economic city in Vietnam.

1.2. Industry overview

The Vietnam coffee market is expected to rise by 8.2 percent in volume during the period 2018–223 and by 1.1 kg per capita in 2018 (Comunicaffe International, 2019). Especially, the research stated that the coffee revenue in Vietnam account for over USD 5 million in 2019 (Statista, 2019). In recent years the cafe chain model was one of Vietnam’s most rapidly growing business models with an annual growth rate of 32 percent. Their coffee bean sales to Vietnamese coffee chains have risen to 300 million per annum.

Ho Chi Minh City (HCMC) is the largest economic center in Vietnam and a place of opportunities for many investors and companies. The city is host to a growing number of tea-and-coffee shops that are open every day with higher income and living standards, ranging from international giants, regional chains to local chains, start-ups and small independent stores. They are also the main attractions. Therefore, there is no doubt to assume that this is the potential profitable market to open a coffee shop.

2. MARKET ANALYSIS

2.1. Environmental factors

2.1.1. PESTLE analysis

PESTLE Method is a method for strategic planning that can easily be used in the external risk identification process (Rastogi and Trivedi 2016).

 Political factor: Vietnam has been during the sustainable and peaceful political environment recently. especially, Ho Chi Minh city continues its attractive political sustainability for new business start up as well as foreign investment in trades and service sectors.

 Economic factor: In 2018, Ho Chi Minh City accounted for nearly 22% of national GDP and 29% of its financial capital (Briefing, 2019). The city has been an economic hub for business growth among the nation. This represents the business environment that has produced the incredible start-up scene of the country.

 Social factors: the coffee culture in Ho Chi Minh City is significant with the increasing demand for to-go coffee or high-end coffee chains. Coffee is still one of the essential parts of population in Ho Chi Minh City. furthermore, Ho Chi Minh City has a young population who are the major customers of coffee shops.

 Technological factors: apart from the tradinition coffee, a black drip, the adapting european coffee style with espresso machine is emerging in Ho Chi Minh City. Furthermore, the increasing of online food ordering service via mobile applications also influence the way coffee shops communicate and sales of products.

 Legal factors: Ho Chi Minh City is an open legal environment to starting up a new business. The legal process for registering and running business is quick and convenient.

 Environmental factors: there is a concern on the use of single-use plastic packaging containers. Therefore, it would be a sensitive factor in selecting appropriate containers, such as paper, recycled packaging.

Overall, the external environment of Ho Chi Minh City promotes the establishment of a new coffee shop. The growing demand as well as the significant coffee culture of this City will continue to encourage the success of running a coffee shop.

2.1.2. Five Force analysis

Porter’s Five Forces is a business analysis framework to illustrate why different industries should achieve a variety of productivity rates. Knowing the competitive forces and their triggers exposes the origins of existing success in a market while offering a structure to predict competition and influence it over time (Porter 2008).

 Threats of new entrants: everyday, there are hundreds of new coffee shops open within Ho Chi Minh city, both coffee chains and local coffee shop. This threats is quite high due to the highly competitive industry.

 Threats of substitutes: Ho Chi Minh City population is young. They quickly adapt a new drinks appearing on the market. Meanwhile, apart from coffee, bubble milk tea and fruit juices are emerging in Ho Chi Minh City. therefore, the consumers has the wide range of substitute products on the market which make this threat high.

 Bargaining power of buyers: Buyers bargaining power means that the burden and advantages of consumers must be reduced, performance increased, profitability improved and food products bought better (Omillo-Okumu 2019). Whereas the consumers has the flexibilty in selecting a variety of substitute products and highly competitive coffee industry by multiple players, their bargaining power is high. This factor will shape the way a new coffee shop to adjust the menu, price as well as promotion to catch the customers’ attention.

 Bargaining power of supplier: this factor reflects the possibility of suppliers to drive up cost. In roasted coffee industry, there are a large number of suppliers due to the fact that Vietnam is one of the leading coffee exporters in the world. Therefore, the power of coffee supplier is low.

 Rivalry among existing competitors: the existing competitors on the coffee shop industry are vast. There are a variety of coffee shop options, from international coffee chains (Starbuck), domestic coffee chains (Highland, Phuc Long, Trung Nguyen coffee, Cong cafe, etc) to numbers of local coffee shops.

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