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9664 NguyenDucTruong 11015
9664 NguyenDucTruong 11015
GROUP ASSIGNMENT
MODULE: ASIAN ENTREPRENEURSHIP AND INNOVATION
DECEMBER 7, 2023
1. Organization amd format …/0.5
2. Delivery …/1
3. Content …/1
4. Development - Critical Thinking …/1
5. Grammar, Mechanics, Style …/0.5
TOTAL …/10
2
Percentage of Final
Student Contribution marks
Student ID Signature of team members
Name
100%
Phạm Hoài
2121013812
Lực
100%
Chử Văn
2121009644
Phụng
100%
Nguyễn Đức
2121009664
Trường
TABLE OF CONTENT
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TABLE OF FIGURE..................................................................................................................6
ABSTRACT...............................................................................................................................7
PART 1: ASSIGNMENT............................................................................................................7
I) EXECUTIVE SUMMARY.............................................................................................7
II) INDUSTRY ANALYSIS.............................................................................................7
III) COMPANY DESCRIPTION.....................................................................................10
IV) MARKET ANALYSIS..............................................................................................11
1. MARKET OVERVIEW............................................................................................11
2. MARKET SEGMENTATION AND TARGET MARKET SELECTION.................11
3. BUYER BEHAVIOR.................................................................................................11
4. COMPETITOR ANALYSIS......................................................................................11
5. ESTIMATES OF ANNUAL SALES AND MARKET SHARE...............................12
V) THE ECONOMIC OF THE BUSINESS..................................................................12
1. REVENUE DRIVERS AND PROFIT MARGINS...................................................12
2. FIXED AND VARIABLE COSTS............................................................................12
3. OPERATING LEVERAGE AND ITS APPLICATION............................................12
4. START-UP COSTS....................................................................................................13
5. BREAK-EVEN CHART AND CALCULATION.....................................................13
VI) MARKETING PLAN................................................................................................13
VII) DESIGN AND DEVELOPMENT PLAN.................................................................14
VIII) OPERATIONS.......................................................................................................14
IX) MANAGEMENT TEAM AND COMPANY STRUCTURE....................................15
1. MANAGEMENT TEAM (INCLUDING A SKILLS PROFILE).............................15
2. BOARD OF DIRECTORS........................................................................................16
3. BOARD OF ADVISORS..........................................................................................16
4. COMPANY STRUCTURE.......................................................................................16
X) OVERALL SCHEDULE...........................................................................................16
1. RESEARCH AND DEVELOPMENT(R&D) PHASE.............................................16
2. ESTABLISHING A BUSINESS...............................................................................16
3. RENT AND PREPARE INSTALLATIONS..............................................................17
4. ATTRACTING INVESTMENT AND FINANCE....................................................17
5. PRODUCT STARTS.................................................................................................17
6. MARKETING AND DEALS....................................................................................17
7. FEEDBACK AND ADVANCEMENTS...................................................................17
PART 2: PRESENTING...........................................................................................................17
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REFERENCES:........................................................................................................................18
TABLE OF FIGURE
Figure 1: Growth rate of Vietnam's dairy industry.....................................................................8
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Figure 2: Curent exchange rates and reflect market impacs of Rusia-Ukraine war...................8
Figure 3:Survey questions 1.......................................................................................................9
Figure 4: Survey questions 2......................................................................................................9
Figure 5: Survey questions 3....................................................................................................10
Figure 6: Survey questions 4....................................................................................................10
Figure 7: Cost of startup chart..................................................................................................13
Figure 8: Break-Even Analysis chart.......................................................................................13
Figure 9: Company Structure...................................................................................................16
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ABSTRACT
Yogurt, a time-recognized chief, has been deified for its rich nutritive profile and
versatility. As a fermented food, yogurt is celebrated for its probiotics, and salutary bacteria
that support digestive health and enhance the vulnerable system. The protein content in
yogurt contributes to muscle conservation and form, while its calcium fortifies bones and
teeth. Acording to (Kroger, 1976), (Kok & Hutkins, 2018), the presence of essential vitamins
and minerals in yogurt underscores its part in a balanced diet. The global demand for yogurt
is driven not only by these health benefits but also by its rigidity to colorful diets and culinary
practices. VitaYogu enters this dynamic request with an innovative vegan volition, aiming to
satisfy the health-conscious consumer with a product that delivers the traditional benefits of
yogurt while aligning with ethical and environmental norms.
PART 1: ASSIGNMENT
I) EXECUTIVE SUMMARY
Currently, people are gradationally paying further attention to their own health, people
are gradationally paying attention to a healthy and sustainable life, especially after the
COVID-19 epidemic, they're indeed more concerned. We're a group of scholars from the
University of Finance and Marketing. Full of enthusiasm and passion for developing unique,
sustainable products that are salutary to society. Our design- “VitaYogu – Natural Energy”-,
meets the trend of clean and vegan food. Our platoon realized that at the request moment,
there was a lack of yogurt products for insectivores and people antipathetic to cow's milk.
Our main product is vegan yogurt, made from natural nut milk, lactose-free, non-
GMO. Our products are especially seductive to the request thanks to their different and rich
flavors with a range of flavors from traditional to ultramodern, serving all types of guests
from insectivores, and swillers to those with limited favors. people looking for healthy food
options. Understand that the trend of vegan and organic eating is growing explosively, and
our products meet this need impeccably. VitaYogu uses constituents supplied from estimable
companies that ensure food safety and hygiene norms. VitaYogu provides high nutritive
value, rich in vegetable protein and essential micronutrients, suitable for both insectivores
and consumers concerned about health or antipathetic to cow's milk.
Our vegan yogurt product isn't only a seductive idea but also a timely, sustainable
business occasion with real value for consumers and society. We believe in the growth
eventuality of this product and look forward to seeing it come part of the healthy food
revolution of the future.
II) INDUSTRY ANALYSIS
The dairy market in Vietnam has witnessed increased attention following the end of
the COVID-19 pandemic due to a heightened awareness of nutrition and health, especially
among the predominantly young population. Notably, SSI Research indicates that dairy
products accounted for 11.9% of FMCG consumption in Vietnam in 2020. Additionally,
Euromonitor estimates a significant growth of 135 trillion VND in the dairy market in 2020,
an 8.3% increase attributed to the rapid expansion of yogurt and milk categories, with yogurt
growing by 12%, and milk by 10% (M.Chung, 2021)
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According to Euromonitor's forecast, the
consumption volume of milk and dairy products
in Vietnam is anticipated to grow at a rate of
9.3% per annum during the period 2020-2024,
reaching an estimated total consumption of 3.05
million tons of products by the year 2024.
Among these, the yogurt sector is expected to
exhibit the highest growth rate, with an annual
increase of 12%. (Lê Th Kim Huê, 2022)
Moreover, the revenue from dairy
products in Vietnam reached 64.4 trillion VND,
demonstrating a 10.3% growth in 2020.
Projections indicate a continued growth of 7-8%
by 2025, with yogurt expected to have the
Figure 1: Growth rate of Vietnam's dairy industry highest growth rate, boasting a CAGR of
12%. According to Statista (March 2023), the
dairy product segments in Vietnam are estimated to reach 7.77 billion USD in 2023, a 7.7%
increase from 2022, with an anticipated annual growth rate of approximately 8.03% from
2023 to 2027 (V ng Chung, 2023)
Figure 2: Curent exchange rates and reflect market impacs of Rusia-Ukraine war
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never tried it. Much of the student population, constituting 73%, agrees that plant-based
yogurt, especially in diets such as vegetarianism or weight management, is a favorable
solution. During the survey, participants expressed consensus on several key points:
Affordability Concerns: A significant 66% of respondents highlighted the importance of
reasonable pricing, as most plant-based yogurts in the market are perceived to be three times
more expensive thanregular options.
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Figure 5: Survey questions 3
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IV) MARKET ANALYSIS
1. MARKET OVERVIEW
According to (LAODONGDONGNAI.VN, 2020) , the Vietnamese yogurt market is
growing very strongly, the appearance of vegan yogurt from seeds is a notable innovation,
becoming a trend since early 2020, after the Covid-19 pandemic. Data from 2019 shows
impressive growth of the yogurt industry, with output reaching 390 thousand tons, an increase
of 17.65% compared to the previous year. This opens great opportunities for vegan yogurt
products, especially in the context of consumers increasingly prioritizing health and
environmental protection.
2. MARKET SEGMENTATION AND TARGET MARKET SELECTION
The nut-based vegan yogurt market can be divided into several segments based on
age, lifestyle, and health perspectives. The main audience includes young people, people who
follow a healthy diet, vegetarians and people interested in environmentally friendly products.
People allergic to lactose and animal milk products. This is a group with a high ability to
accept and pay for quality vegan yogurt products (Barringer & Ireland, 2019).
Market segmentation: Key segments include health-conscious consumers,
vegetarians, and those with lactose intolerance.
Target market: Focus on young people, people working in office environments and
families who are conscious about health and the environment. Older people and the elderly
have nutritional and health needs.
3. BUYER BEHAVIOR
Modern consumers are increasingly concerned about health and the environment,
which is evident in their shopping behavior. Consumers in this segment often look for
products of natural origin, non-GMO and free of preservatives. They are willing to pay more
for high quality, sustainable and clearly sourced products. In addition, they also like to
participate in community activities and care about environmental issues. The popularity of
plant-based milks such as soy milk and barley milk are evidence of this trend. Nut-based
vegan yogurt can meet this need by providing a healthy and environmentally friendly option.
4. COMPETITOR ANALYSIS
The Vietnamese yogurt market witnessed fierce competition between major brands,
with VNM leading (accounting for 75% of the export price difference), followed by
competitors such as TH True Milk...Each brand has its own strategy to dominate the market
and attract customers.
Vinamilk: As the leading brand in the Vietnamese yogurt market, VNM not only
diversifies its products but also expands its distribution system widely. They offer a variety of
yogurts from traditional yogurts to plant-based yogurts, targeting all types of customers.
TH True Milk: A strong competitor of VNM, TH True Milk focuses on the high-
quality fresh milk and yogurt segment. They also focus on promoting the natural and healthy
origin of their products.
Dutch Lady: Another famous brand, Dutch Lady, competes directly with VNM in
many product segments, including yogurt.
However, to be able to compete with these big brands, VitaYogu has a unique
customer attraction strategy. VitaYogu is a Home-Made product and always ensures food
safety and hygiene. With the slogan "Natural Energy".
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5. ESTIMATES OF ANNUAL SALES AND MARKET SHARE
According to Mordor Intelligence, the vegan yogurt market in the Asia-Pacific region
is experiencing very strong growth. Demand for dairy alternatives, including vegan yogurt, is
growing due to consumer concerns about health and the environment.
The global vegan yogurt market size reached US$2.1 billion in 2021 and is expected
to grow to US$5.7 billion in the future.
Vegan yogurt products such as coconut yogurt have appeared on the market since
2018 and are increasingly popular. Interest in vegetarian and plant-based foods is driving the
growth of this market.
5.2. Conclude
The nut-based vegan yogurt market is on a strong growth trajectory, with the global
market size expected to increase significantly in the coming years. Growing consumer
concern for health and the environment, along with the widespread acceptance of traditional
yogurt alternatives, are key factors driving this growth. Startups in this field can look forward
to a promising future with vast market opportunities and continuous innovation.
(Modor Intelligence, 2023a) , (Modor Intelligence, 2023b) (BO ANH, 2023)
COST OF START-UP
69%
VI)
MARKETING PLAN
Marketing plan for "VitaYogu" - Yogurt made from nuts.
Positioning and identifying the “VitaYogu” brand:
"VitaYogu" is a nut-based yogurt focused on health and a vegan lifestyle. Besides
brand positioning, we need to create a strong brand image, focusing on the naturalness of
yogurt and the quality of yogurt.
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Logo and slogan express the spirit of "VitaYogu" - Health from nature. Advertising
and marketing campaigns are also important. Use social networks like Instagram and
Facebook to share attractive product images, stories about the origin of nuts, product types
and health benefits.
Create blogs and videos about the benefits of "VitaYogu" yogurt, creative recipes and
the story behind the brand to develop content marketing, conveying meaningful stories.
Cooperation and strategic partnership
Partner with influencers and health experts to increase brand credibility and
recognition. These people will help “VitaYogu” get a good look from potential customers. In
addition, "VitaYogu" also cooperates with health food stores and supermarkets to expand
distribution channels through health food stores and supermarkets.
Promotions and offers.
Organize product testing events "VitaYogu" at stores and shopping centers. Offer special
offers to first-time customers to encourage product testing.
VII) DESIGN AND DEVELOPMENT PLAN
Research and develop new flavors for “VitaYogu” such as walnut, almond and cashew.
“VitaYogu” ensures product quality that is not only delicious but also nutritious, suitable for
the health needs of consumers.
Also use attractive, recognizable, and environmentally friendly packaging for
"VitaYogu". "VitaYogu" Provides clear information about ingredients, health benefits and
usage instructions on the packaging.
Conduct testing to ensure "VitaYogu" is safe and meets quality standards. And
achieve certifications related to quality, food safety and hygiene.
"VitaYogu" Identify and develop effective distribution channels, including online and
direct sales. As for direct sales, you can explore the possibility of selling directly to
consumers through your website or e-commerce platform.
VIII) OPERATIONS
General Approach to Operations:
Our strategy for managing operations in the production of vegan yogurt focuses on
optimizing efficiency, promoting sustainability, and maintaining high quality standards. We
strive to create a smooth and environmentally friendly production chain by streamlining
processes, from sourcing ingredients to the ultimate delivery of the final product.
Business Location:
The selection of a business location is a crucial step, and we have chosen a strategic
location. Placing ourselves in proximity to the primary source of raw materials in major cities
and regions with high demand for our plant-based yogurt product. This decision allows us to
optimize the transportation process, minimize costs, and ensure a steady and high-quality
supply.
Facilities and Equipment:
Our production facilities will utilize modern machinery to produce high-quality plant-
based yogurt. Automated blending and advanced mixing systems ensure uniformity and
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smooth texture. State-of-the-art refrigeration and freezing systems aid in product
preservation, and the automated packaging machine is environmentally friendly, minimizing
waste. We implement automated quality control devices to uphold high standards. The
sterilization system and storage equipment guarantee the safety and freshness of the product.
Our commitment is to employ cutting-edge technology to create premium plant-based yogurt,
meeting quality standards while prioritizing environmental conservation.
Skills Profile:
o Human Resources Strategy
o Efficient Recruitment
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o Training and Development Management
o Human Resources Information Management
2. BOARD OF DIRECTORS
The Board of Directors plays a crucial role in overseeing the strategic direction and major
decisions of the company, ensuring alignment with the interests of shareholders, and
providing valuable insights for long-term success.
Key Skills
o Strategic Vision
o Financial Acumen
o Industry Expertise
3. BOARD OF ADVISORS
The Board of Advisors serves as a group of external experts providing non-binding advice to
the company. For a plant-based yogurt product, advisors may offer insights into market
trends, nutritional aspects, and sustainable practices.
Key Skills:
o Market Research
o Nutritional Expertise:
o Sustainability Knowledge
4. COMPANY STRUCTURE
X) OVERALL SCHEDULE
1. RESEARCH AND DEVELOPMENT(R&D) PHASE
January- March 2022 request exploration, and determine suitable nut milk (e.g., almond,
coconut).
April- June 2022 Develop yogurt formula, and test variations.
July 2023 Complete the final product model.
2. ESTABLISHING A BUSINESS
August 2022 Complete business enrollment and establish organizational structure.
September 2022 Develop business plan and development strategy.
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3. RENT AND PREPARE INSTALLATIONS.
October 2022 Hunt and rent a product position.
November- December 2022 Equipping installations, copping ministry.
4. ATTRACTING INVESTMENT AND FINANCE
January- February 2023 Prepare and present design documents to investors.
March 2023 Close the first round of backing.
5. PRODUCT STARTS
April 2023 Launch product line, original testing.
May 2023 Mass product begins.
6. MARKETING AND DEALS
June 2023 Develop and apply marketing strategy.
July 2023 Product launch, deals conditioning begins.
7. FEEDBACK AND ADVANCEMENTS
August onwards Collect and dissect client feedback.
September onwards Acclimate and ease the product grounded on feedback.
Crux:
Quality operation icing product quality from R&D to product stages.
threat operation Identify and minimize pitfalls at each stage.
Finance Control budget and cash inflow rigorously.
mortal coffers Recruit and train high-quality brigades.
client relations figure and maintain good connections with guests and mates.
PART 2: PRESENTING
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REFERENCES:
BẢO ANH. (2023). Sữa hạt sẽ trở thành xu thế toàn cầu vì lợi ích sức khỏe.
Barringer, B. R., & Ireland, R. D. (2019). Entrepreneurship: successfully launching new ventures.
Kok, C. R., & Hutkins, R. (2018). Yogurt and other fermented foods as sources of health-
promoting bacteria. Nutrition Reviews, 76, 4–15. https://doi.org/10.1093/nutrit/nuy056
Kroger, M. (1976). Quality of Yogurt. Journal of Dairy Science, 59(2), 344–350.
https://doi.org/10.3168/jds.S0022-0302(76)84208-7
LAODONGDONGNAI.VN. (2020). BÁO CÁO NGHIÊN CỨU THỊ TRƯỜNG SỮA CHUA
VIỆT NAM, BÁO CÁO NGHIÊN CỨU THỊ TRƯỜNG.
Lê Thị Kim Huê. (2022). VNM_190922_CSI.
M.Chung. (2021). Ngành sữa năm 2021 sẽ tăng trưởng theo kịch bản nào_ - Nhịp sống kinh tế
Việt Nam & Thế giới.
Modor Intelligence. (2023a). Phân tích quy mô thị trường và thị phần sữa chua Châu Á - Thái
Bình Dương - Xu hướng & Dự báo Tăng trưởng. Phân tích quy mô thị trường và thị phần sữa
chua Châu Á - Thái Bình Dương - Xu hướng & Dự báo Tăng trưởng Source:
https://www.mordorintelligence.com/vi/industry-reports/asia-pacific-yogurt-market
Modor Intelligence. (2023b). Phân tích thị phần & quy mô thị trường sữa chua trái cây - Xu hướng
& dự báo tăng trưởng (2023 - 2028).
Vũ Đăng Chung. (2023). Báo Cáo Ngành Thực Phẩm Việt Nam 2023 & Xu Hướng đến 2027 _
Ychoc.com.
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GIẢNG VIÊN RA ĐỀ
(Kí và ghi rõ họ tên)
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