BÀI TIẾNG ANH

THE FINANCIAL
UNIVERSITY OF FINANCE – MARKETING
FINAL REPORT
ESSAY ON INTERNATIONAL MARKETING
INTERNATIONAL MARKETING PLAN PROJECT FOR

CHOLIMEX NAMNUENG OF CHOLIMEX FOOD
JOINT STOCK COMPANY (CHOLIMEX FOOD
JSC) IN THAILAND MARKET
HCMC, Month 08/ 2021

THE FINANCIAL
UNIVERSITY OF FINANCE – MARKETING
FINAL REPORT
ESSAY ON INTERNATIONAL MARKETING
INTERNATIONAL MARKETING PLAN PROJECT FOR

CHOLIMEX NAMNUENG OF CHOLIMEX FOOD
JOINT STOCK COMPANY (CHOLIMEX FOOD
JSC) IN THAILAND MARKET
Implementation group:
- Bui Thi My Diep - 1921005389
- Lam My Duyen - 1921005403
- Nguyen Thu Trang - 1921005730
- Nguyen Cat Tuong Vy - 1921005790
Class: CLC_19DMA04
Code: 2031702031204
Faculty: Marketing
Specialized: Marketing Management
HCMC, Month 08/2021

TABLE OF CONTENTS
LIST OF FIGURES ....................................................................................................................... iii
LIST OF TABLES ..........................................................................................................................iv
1. EXECUTIVE SUMMARY ...................................................................................................... 1
Brief overview of the company .............................................................................................. 1
Company’s main product ....................................................................................................... 1
Target country: Thailand ........................................................................................................ 1
2. SITUATION ANALYSIS ......................................................................................................... 2
Company Analysis ................................................................................................................. 2
Organization Assets and Skills .............................................................................................. 2
3. MARKET ANALYSIS ............................................................................................................. 3
Analysis of the Internal Environment .................................................................................... 3
3.1.1 Human Resources ................................................................................................................ 3
3.1.2 Material Resources .............................................................................................................. 3
3.1.3 Financial Resources ............................................................................................................. 3
Analysis of the External Environment ................................................................................... 4
3.2.1 Macro environment.............................................................................................................. 4
3.2.2 Microenvironment ............................................................................................................... 9
Nature of Demand ................................................................................................................ 11
Size and Extent of demand................................................................................................... 11
Product category Stage of product life cycle ....................................................................... 13
Structure of the industry ....................................................................................................... 13
Competitor Analysis ............................................................................................................ 15
4. SWOT ANALYSIS ................................................................................................................. 16
5. TARGET MARKET DESCRIPTION.................................................................................. 17
Market Segments.................................................................................................................. 17
Target Marketing Identification and Segmentation Strategy ............................................... 18
Marketing positioning .......................................................................................................... 19
Market Entry Strategy .......................................................................................................... 19
6. INTERNATIONAL MARKETING GOALS AND OBJECTIVES................................... 19
International Objectives ....................................................................................................... 19
Market Objectives ................................................................................................................ 19
7. MARKETING PROGRAM ................................................................................................... 20
Product ................................................................................................................................. 20
7.1.1 Product Positioning............................................................................................................ 20
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7.1.2 Type of product ................................................................................................................. 21
7.1.3 Product Dimensions........................................................................................................... 21
7.1.4 Branding approach: Product line extension ....................................................................... 22
7.1.5 Develop new products: ...................................................................................................... 22
Price ..................................................................................................................................... 23
Place ..................................................................................................................................... 24
7.3.1 Define distribution goals ................................................................................................... 24
7.3.2 Channel and marketing decisions: ..................................................................................... 24
7.3.3 Distribution channels ......................................................................................................... 24
Promotion ............................................................................................................................. 25
7.4.1 Advertising ........................................................................................................................ 25
7.4.2 Sale Promotion .................................................................................................................. 27
7.4.3 PR ...................................................................................................................................... 27
7.4.4 Direct Marketing................................................................................................................ 28
7.4.5 Promotional budget............................................................................................................ 28
8. PLANNING BUDGET ........................................................................................................... 28
Planning Assumptions.......................................................................................................... 28
Budget .................................................................................................................................. 29
8.2.1 Product ............................................................................................................................... 29
8.2.2 Place .................................................................................................................................. 29
8.2.3 Promotion .......................................................................................................................... 30
9. EVALUATION, MEASUREMENT, AND CONTROL ..................................................... 30
Product ................................................................................................................................. 30
Price ..................................................................................................................................... 31
Place ..................................................................................................................................... 31
Promotion ............................................................................................................................. 32
REFERENCES ............................................................................................................................... 33
APPENDIX 1 .................................................................................................................................... a
APPENDIX 2 .................................................................................................................................... e
APPENDIX 3 .................................................................................................................................... f
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LIST OF FIGURES
Figure 3.1. The Gross Domestic Product per capita in Thailand ...................................................... 7
Figure 3.2. Current competitors in Thailand ...................................................................................... 10
Figure 7.1. Positioning map between Cholimex Namnueng and the opponent ................................. 20
Figure 7.2. Packaging design of Cholimex Namnueng ..................................................................... 21
Figure 7.3. Consumer structure .......................................................................................................... 24
Figure 7.4. Business to Business Channels ........................................................................................ 25
APPENDIX 2
Figure 1. Product packaging design image .......................................................................................... e
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LIST OF TABLES
Table 3.1 Cost statistics used in a year .............................................................................................. 13
Table 3.2. Competitor Analysis ......................................................................................................... 15
Table 4.1. Swot Analysis of Cholimex Namnueng ............................................................................ 16
Table 5.1. Market Segmentation of Cholimex Namnueng ................................................................ 17
Table 7.1. Ingredients information of the product ............................................................................. 22
Table 7.2. Competitor's Grilled Pork Sausage Price .......................................................................... 23
Table 7.3. Cost of means of transportation of of goods from Vietnam to Thailand .......................... 25
Table 7.4. Advertising channels ......................................................................................................... 26
Table 7.5. Promotional budget of Cholimex Namnueng ................................................................... 28
Table 8.1. Expenses of product .......................................................................................................... 29
Table 8.2. Expenses of place .............................................................................................................. 29
Table 8.3. Promotional budget of Cholimex Namnueng ................................................................... 30
APPENDIX 1
Table 1. Cost statistics used in a year .................................................................................................. a
Table 2. Expected sales table in the first year of Cholimex Namnueng .............................................. b
Table 3. Expenses of product ............................................................................................................... c
Table 4. Expenses of place .................................................................................................................. c
Table 5. Promotional budget of Cholimex Namnueng ........................................................................ d
APPENDIX 3
Table 1. Member’s group work assessment ......................................................................................... f
iv
1. EXECUTIVE SUMMARY
Brief overview of the company
Cholimex Food Joint Stock Company is one of the leading companies in the industry of spices,
frozen seafood in the domestic and international market, which has been established for a long time
(1981). Cholimex is well known for its products such as chili sauce, ketchup, instant fish sauce, spring
rolls, dumplings, seafood hotpot and so on.
Cholimex Food considers comprehensive quality and sustainable development as the main
goals for the company's activities. Continuous improvement and constant development in turning
ideas into effective solutions in the business. Moreover, the company is constantly developing and
nurturing the trust of society in the company's brand.
Currently, Cholimex Food branded products are present in more than 30 countries in Asia,
Europe, and America with processed products with added value and penetrated into leading
supermarket systems in the world.
Cholimex has become one of the reputable brands in the domestic and international market
with quality products, ensuring food safety and hygiene.
Company’s main product

Currently, the company has three main product lines: sauce - condiments, sauce - dipping
sauce, and frozen food.
Sauce - Condiments: chili sauce, ketchup, sweet and sour chili sauce, instant fish sauce,
shrimp satay, seafood sour hot pot, fish sauce marinated, seasoning with pepper, various kinds of
soup powder, etc.
Sauce - Dipping sauce: Huong Viet soy sauce, Huong Viet fish sauce, ready-made fish sauce,
etc.
Frozen food, including 2 groups:
The first group - Frozen seafood: frozen shrimp, frozen crab, frozen fish, frozen squid, frozen
crab, Amaebi shrimp.
The second group - Value-added refined foods: spring rolls, grilled shrimp on sugarcane,
dumplings, wontons, little bare cakes, breaded shrimp, fish sauce hot pot, seafood hot pot, squash
stuffed with meat, shumai, banh khot, banh nam, fish cakes, shrimp cakes.
Target country: Thailand

According to the ITPC, Thailand is currently Vietnam's largest trading partner in ASEAN.
Vietnam's goods export turnover to Thailand always accounts for about 1/5 of the total export
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turnover to ASEAN. Thailand has always maintained its position as the number 1 export market of
Vietnam in ASEAN. (Nhan Dan newspaper, 2020) The tastes of Vietnamese and Thai people have
some similarities (due to their proximity to each other and similar soil). Most of the restaurants in
Thailand are praised for their dishes with lots of fresh vegetables such as spring rolls, mixed salads,
grilled pork sausage, etc. (Kenh14.vn, 2019). Therefore, grilled pork sausage that Thai people call
"namnueng1" is one of the favorite dishes from Vietnam that has become a familiar and very popular
dish in this country. Therefore, Thailand is the ideal country for Cholimex to export grilled pork
sausage (Vien Dong Daily News, 2019).
2. SITUATION ANALYSIS
Company Analysis
Cholimex Food also modernizes the production process, builds a closed supply chain from
raw materials to processing, provides high-quality food, ensures monitoring and traceability.
Enterprises invest in automatic machinery and equipment at stages to increase labor

productivity and save labor such as shrink wrapping machines, automatic cartoning machines, and
freezing machines. Sauce - condiment factory has a production capacity of 500 million bottles per
year, frozen food factory has a production capacity of 5,000 tons per year. At the same time, applying
DMS technology to product distribution management systems.
The company is also equipped with a freezing system and modern machinery to replace
manual processes, both ensuring quality and bringing high economic value to products, gradually
improving the brand competitiveness on the global market.
Core activities: Producing, processing and trading food products, industrial meals, frozen
foods, seafood of all kinds for domestic market and export.
With the goal of prestige and quality, the company force all processes to be strictly controlled
to ensure quality and delivery on time.
Organization Assets and Skills

- The enterprise is certified to meet the quality management standard ISO 9001:2000.
- Products meet food hygiene and safety standards such as BRC, ASC.
- Received a certificate of food safety for export to the European Union (EU).
- The company develops HALAL standards for Muslim countries and Kosher for Jews to
diversify export markets.
1
Namnueng: This dish is "Grilled pork sausage". In the Vietnamese sense it means "Nem Nuong".
2
- Cholimex's products do not use synthetic colorants or additives outside the permitted list of
the Ministry of Health, meeting the strict demands on food safety and hygiene of the
international market and so on.
3. MARKET ANALYSIS
Analysis of the Internal Environment
3.1.1 Human Resources

Cholimex has attracted, created jobs and stable income for more than 1,500 employees. Re-
training existing and experienced staff. In additon, the company always focusing on improving
professional knowledge and skills for managers and professional staff.
The company focuses on training to improve skills for employees through promotion exams
and knowledge tests on food safety. Therefore, Cholimex has a team of young, qualified, and skilled
workers combined with a team of experienced technicians with a high sense of responsibility.
Cholimex has labor policies such as ensuring the health, safety, and welfare of employees. In
addition, the company also has reasonable rewards, support policies and creates a friendly working
environment to attract employees to stick with the company.
3.1.2 Material Resources

Constantly investing in new machinery and equipment in parallel with improving existing
ones to increase labor productivity and product quality. Many savings programs have been applied to
reduce the amount of labor used and the norm of packaging materials, contributing much to the
increase in profits.
With an area of 3.7 hectares, the Company has built 5 production workshops with a capacity
of 400 million bottles of sauces, spices, and 5,000 tons of frozen food per year.
3.1.3 Financial Resources
Figures from 2020:
Net revenue from sales: 2,263,329,000,000 (VND)

Charter capital: 81,000,000,000 (VND)
Equity: 543,868,000,000 (VND)
Profit after tax: 178,626,329,079 (VND)
Net profit/sales ratio: 7.9%
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Analysis of the External Environment
3.2.1 Macro environment

❖ Political and Legal Environments
Thailand is a constitutional monarchy combined with direct democracy. The current political
situation in Thailand is unstable, which makes it difficult for investors to do business in this country.
The Foreign Investment Law in Thailand stipulates limited business activities for foreigners
(unless obtaining an operating license from the relevant ministries). Companies incorporated in
Thailand are also governed by this act if they have foreigners or foreign legal entities owning half or
more than 50% of the shares are also governed by this act. Foreign investors cannot buy property or
real estate in Thailand. According to current law, there is no specific charter capital, but at least 3
shareholders are required to establish a company. Foreign investors can still set up a company with
100% foreign ownership, but the procedure will be very difficult and the outcome is uncertain.
However, under the current new preferential policy package, foreign businesses investing in Thailand
will receive an additional 50% reduction in corporate income tax for 5 years, doubling the discount
for expenses for foreign investors for training, and corporate tax exemption for 5 years upon
establishment of skills development facilities.
❖ Regulatory Environments
Harmonized Tariff Schedule of Thailand
Thai Customs Tariff Decree B.E. 2530 states that “goods imported or brought into, exported,
or taken out of the Kingdom shall be chargeable with and liable to duty”. For dutiable goods, payment
can be made at the Customs Department of the port of entry or via the e-Payment section of the e-
Customs system.
The Tariff Schedule of Thailand can be searched both by HS Code and by Thailand
agreements with other countries.
Prior notice of imported foods
The laws and regulations governing the Thai food industry are confined to the scope of the
Food Act B.E. 2522. The Food Act authorizes the Ministry of Public Health’s Food and Drug
Administration (FDA) to implement and administer the Food Act.
Under the Act, all establishments producing food for sale or importing food for sale must be
licensed by the Food Bureau of the FDA. The application and granting of licenses must be complied
with the principles, procedures, or conditions prescribed in the Ministerial Regulations, which are
periodically elaborated, modified, and issued by the FDA’s Food Bureau.
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Imported frozen products must be certified to one of the following standards to be sold
in Thailand
Attention should be paid to regulations on packaging, labeling, import certificates, and import
permits. For products imported into Thailand, the Thai government has very strict regulations.
As a rule, the packaging of products should be made of safe materials and are resistant to heat
and moisture. Exporters should also pay attention to the possibility that the goods will be stored in
open warehouses, so the packaging should use waterproof materials. The use of hay and straw should
be avoided for packaging.
Import certificates and import permits are also necessary conditions for Vietnamese goods to
be circulated on the Thai market. Import certificates include certificates of origin and special
certificates. These types of documents must be issued from competent authorities. For certificates of
origin, in some cases, if two countries have signed a Free Trade Agreement, goods with a certificate
of origin will enjoy a preferential tax rate.
Frozen foods must be registered with the Food and Drug Administration, Ministry of Health
before being imported. When carrying out the registration procedure, the importer must submit 2
samples for each type of goods, accurate information on the composition in percentages, along with
six product labels.
Supporting policies
ASEAN Trade in Goods Agreement (ATIGA)
Countries in ASEAN including Thailand signed the ASEAN Trade in Goods Agreement
(ATIGA). In addition to tariff commitments, ATIGA also includes many other commitments such as
elimination of non-tariff barriers, rules of origin, trade facilitation, customs, standards and
conformity, sanitary measures. Most of the products in the tariff schedule will be eliminated or
reduced by countries to less than 5%, except for some sensitive products such as unprocessed
agricultural products, sensitive products such as firearms and ammunition, explosives, garbage, etc.
❖ Economic Environments
GDP growth rate: The BoT's Monetary Policy Committee (MPC) decided to cut the GDP
growth forecast for 2021 to 0.7% from 1.8% last month. In addition, the Thai economy for 2022 was
projected to expand 3.7%, a decline from its previous forecast of 3.9%. (Bangkok Post, 2021)
Inflation rate: The annual inflation rate in Thailand fell to 0.45 percent in July 2021 from
1.25 percent a month earlier and compared with the market consensus of 0.97 percent. This was the
lowest reading in four months, amid coronavirus-related restrictions, with food prices falling for the
first time in four months (-0.47 percent vs 0.29 percent). (Trading Economics, 2021)
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Currency: Thai Baht is the currency in circulation in Thailand (symbol THB - read as Baht).
Thailand circulates both banknotes and coins. Banknotes in Thailand have the following
denominations: 20฿, 50฿, 100฿, 500฿, and 1000฿. Coins with denominations of 10฿ or less. Besides,
compared to Vietnamese Dong, the conversion rate between the two currencies of the two countries
is 1 Thai Baht (THB) = 684.62 VND. (The Bank, 2021)
Economic relations between Vietnam and Thailand: According to a reporter of TTXVN

newspaper in Bangkok, Deputy Prime Minister and Minister of Commerce of Thailand Jurin Laksana
Wisit on June 7 affirmed that the cooperation in the field of the economy - trade - investment between
Thailand and Vietnam is getting better. Bilateral trade turnover in the first 4 months of 2021 increased
by 20% over the same period last year. The two countries have signed agreements and arrangements
such as the Agreement on Avoiding Double Taxation between Vietnam and Thailand, the Agreement
between Vietnam and Thailand on the Promotion and Protection of Mutual Investment, etc. (TTXVN
newspaper, 2021)
❖ Social and Cultural Environments

➢ LANGUAGE
The primary language spoken in Thailand is Thai or “Phasa Thai” meaning “language of the
free”. Over 80% of Thailand’s population speaks Thai as their primary language and almost everyone
else speaks it as a second language. But Thai is not the only language spoken in Thailand where at
least 62 local languages from 5 language families exist. (Autolingual, 2020)
The Thai language is a language from the Kra-Dai family of languages and the Tai subbranch.
It’s spoken by close to 35 million people as a first language and more than 45 million as a second
language. (Autolingual, 2020)
English is the most common second language, and many Thais have studied some level of
English either at school or through practice with foreign friends. In Bangkok, where the major
business and commercial transactions are held, English is widely spoken, written, and understood.
Further, in most hotels, shops, and restaurants of major tourist destinations, English and some
European Languages are spoken, written, and understood.
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❖ Demographic Environments
Population: (Worldometer, 2021)
- The current population of Thailand is 69,993,027 as in 2021, based on Worldometer

elaboration of the latest United Nations data.
- Thailand's population is equivalent to 0.9% of the total world population.
- Thailand ranks number 20 in the list of countries (and dependencies) by population.
- The population density in Thailand is 137 per Km2 (354 people per mi2).
- The total land area is 510,890 Km2 (197,256 sq. miles)
- 51.1 % of the population is urban (35,698,325 people in 2020)
Age: The median age in Thailand is 40.1 years. (Worldometer, 2021)
Per capita income: The Gross Domestic Product per capita in Thailand was last recorded at
6094.43 US dollars in 2020. The GDP per Capita in Thailand is equivalent to 48 percent of the world's
average. (Trading Economics, 2021)
Figure 3.1. The Gross Domestic Product per capita in Thailand

(Source: Tradingeconomics.com/ World Bank)
Urbanization: In 2020, 51.43 percent of Thailand's total population lived in urban areas and
cities. Between 2010 and 2020, the country has shifted from 36 percent urban to almost 50 percent
urban, which means that half of the population now lives in cities and urban areas. While Thailand's
urbanization rates are still low compared to other developed nations - which can reach levels of 80-
90 percent, this transformation in Thailand is still significant, especially as most of this growth occurs
which is expected to occur in the Krung Thep area, better known as Bangkok, capital and largest city
in Thailand. (Statista, 2021)
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❖ Technological Environments
Thailand has spent billions of dollars on building infrastructure, upgrading transport as well
as Internet and telecommunications networks to meet the needs of technology development:
Traffic infrastructure: Thailand is widely acknowledged as having the most extensive road
transportation network in all of Southeast Asia with more than 390,026 kilometers, of which 384,176,
or 98.5%, is concrete or asphalt paved, and 66,266 km forming a national highway network
connecting each region of the country. (Thailand Board of Investment, 2019)
Internet system: Among the more than 69 million people in Thailand, the internet access rate
is very high, up to 75%. From there, it can be seen that people here have easy access to the Internet,
creating favorable conditions for consumers to access new information as well as update information.
(Asia1ac, 2020)
Thailand ranks fifth in e-commerce in the world with 80% of internet users goods online
through any device. This shows that online shopping is very developed in Thailand.
International Telecommunication Union (ITU) and the National Broadcasting and

Telecommunications Commission (NBTC) of Thailand have established more than 20 rural internet
hubs across the country. The centers, located in 16 provinces across the country, strengthen
information and communication technology (ICT) skills that are helping to drive economic and social
development in some of the country's most remote regions.
❖ Natural Environments
As a country with a long coastline of 3,219 km, it is convenient for sea transportation.
Thailand's territorial waters in the southeast border with Vietnam's territorial waters in the Gulf of
Thailand, which has a geographically close position and is convenient for trade and commerce.
However, Thailand's dramatic economic growth has caused many environmental problems.
The average temperature of Thailand's weather is higher than that of Vietnam, usually from 32
degrees Celsius in December and up to 35 degrees Celsius. The rainy season usually takes place from
June to October, of which August, September, and October often occur with storms and floods. This
will cause changes and delay in delivery schedule, cause accidents for shipping vessels, damage to
ships easily leading to capital loss. These factors can pose a major threat to the shipping process as
well as the quality of products being stored in some areas.
Thereby, it can see the temperature in Thailand is often very high, so the company needs to
invest in equipment such as trucks and containers for transporting frozen goods to better preserve
products. Regarding the rainy and stormy seasons, to avoid damage to shipments, the company should
8
export before Thailand's rainy season, or carefully study the weather condition to deal with bad cases
to minimize the damage. loss for the company's products.
❖ Physical Environments
Traffic system: Transport in Thailand is varied. For long-distance travel, bus transport
dominates. Low-speed rail travel has long been a rural long-distance transport mechanism, though
plans are underway to expand services with high-speed rail lines extending to several major regions
of Thailand. Road transportation is the primary form of freight transport across the country.
Transportation system:
Thailand's transportation system is quite diverse and convenient.
Road system - transport of goods and travel by road through various connections. The Thai
government is investing to improve transport infrastructure across the country with the development
of economic corridors and highways.
Air transport - Currently, Thailand has about 5 busiest cargo airports: Suvarnabhumi
International Airport, Don Mueang International Airport, Phuket International Airport, Chiang Mai
International Airport, Koh Samui International Airport.
Sea transport - still a very popular mode of freight transport in Thailand. The main Thai
seaports for importing goods are Bangkok Port, Laem Chabang Port, and Songkhla Port.
3.2.2 Microenvironment
❖ Customers
Cholimex's customers include:
Customers are Thai people with needs and preferences for Vietnamese culinary dishes,
especially grilled pork sausage. Thai people especially love grilled pork sausage with rich flavor and
especially love the dipping sauces and fresh vegetables served with them. Thai people want
reasonable food prices and guaranteed food quality.
Distribution intermediaries in Thailand: convenience store system 7-Eleven, Makro Sathorn

supermarket, Big C Go supermarket. In addition, there are other retail outlets in the local area to cater
to neighboring households.
❖ Suppliers
Finding the source of raw materials and checking the quality of imported raw materials are
carried out by the Company under a very strict process. First, the Company must determine the
farming area and survey of the production process of these material areas, check with equipment to
ensure the production process is safe, and ensure the right quality as required. The Company then
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signs a long-term contract and regularly inspects their production process, checks the input materials
of the suppliers, and determines the origin of the breeding stock. Therefore, the Company's source of
raw materials is always stable, ensuring to meet the required quality and ensure the traceability of
products.
The Company's raw materials are mainly aquatic products, agricultural products, and meat.
The company mainly imports from aquaculture areas in Ho Chi Minh City, Bac Lieu, Ca Mau, Soc
Trang provinces.
The agricultural products the company imports from the northern provinces, the central
provinces are mainly chili, garlic, especially the provinces: Hai Duong, Hung Yen, Thai Binh, Quang
Binh, Quang Tri, Thua Thien Hue, Lam Dong, and the southwestern provinces.
● List of main raw material suppliers:

Packaging: Ngoc Nghia Plastic Joint Stock Company; Malaysia Glass Company Limited.
Agricultural products: Phuoc Thanh Da Lat Cooperative (Da Lat Coop)
Accessories: Brenntag Vietnam Co., Ltd; Thanh Thanh Cong Tay Ninh Sugar Company
Limited; Tuong An Vegetable Oil Joint Stock Company
❖ Substitutes
Products that can replace grilled pork sausage such as spring rolls, grilled chopped fish, surimi,
etc., these products can pose a threat to businesses.
❖ Current competitors
- Current competitors in Thailand are brands specializing in selling grilled pork sausage such
as Daeng Namnuang and VT Namnueng, ตรา สุทธิลก
ั ษณ์ (Suthiluck).
Figure 3.2. Current competitors in Thailand
- Grilled pork sausage is sold at traditional Thai markets.
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❖ Potential competitors
Frozen food manufacturers in Thailand may launch grilled pork sausage to compete with such
ั นายฮั่ง อินเตอร ์ฟู้ ดส ์ (Mr. Hang Interfoods Co., Ltd.), เจริญโภคภัณฑ ์อาหาร (Charoen
products as บริษท
Pokphand Foods Public Company Limited) and so on.
Large frozen food company in Vietnam such as Vissan, CP, Cau Tre, etc., which have a lot of
experience in production as well as a large capital, can easily enter the market and become potential
competitors with business.
Nature of Demand
Cholimex Namnueng is one of the frozen foods loved and accepted by Thai and Vietnamese.
According to the latest report by market research agency Technavio, the global frozen food market
size is forecasted to grow at a record CAGR (Compound Annual Growth Rate) of around 11% in the
period 2020-2024. In addition, according to a report from Mordor Intelligence, the market is primarily
driven by rising disposable income, the introduction of longer shelf-life products, increasing impulse
purchasing, and huge demand for frozen food products, due to the lack of time. (Mordor Intelligence,
2020)
Size and Extent of demand

Thais spend 25% of their total spending on food and beverages, and about 38 million middle-
and upper-income consumers are eager to buy imported food products. (Food Export, 2020).
Opportunities in Thailand's food processing sector continue to grow as domestic processed

food sales increase due to a major shift in consumption patterns towards convenience foods. With the
increasing demand for processed foods, Thai food processors have to import a large amount of food
ingredients that are not available domestically.
The Thai frozen food market is expected to reach a CAGR of 5.9% during the forecast period
2017-2022 (Cision PR Newswire, 2018). The market is expected to continue to be driven by the
increasing use of canned food and online retail in Thailand. As a result, it has boosted demand for
Thai frozen products globally and will continue to do so in the long term.
● Influence Factor:
The capacity of grilled pork sausage in the current market: Currently, large stores are
specializing in producing and selling famous grilled pork sausage in Thailand, which proves that the
large market capacity will attract many competitors and it is difficult to attract the attention of
customers.
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Price fluctuation: Like other items, grilled pork sausage is also affected by supply and
demand factors. Moreover, the price of a grilled pork sausage product is a composite price from many
costs such as transportation costs, packaging, purchasing raw materials, etc., so just one of the above
changes will lead to a change in the product cost.
Import and export policies: Management mechanisms, economic policies and external
partnerships directly affect the export of grilled pork sausage. Especially in Thailand, there are many
strict regulations in the selection of goods to import such as regulations on quality, packaging, labels,
import certificates and import permits.
Exchange rate: Encouraging imports opens up export opportunities for Vietnam. Although
Thailand's exchange rate fluctuated significantly in recent years, it tended to increase during 1971-
2020 (Knoema, 2020). Therefore, the appreciation of Thailand's domestic currency makes domestic
goods more expensive relative to foreign goods, which will encourage the import of foreign goods
and limit the export of domestic goods. This country leads to a decrease in net exports. Based on these
conditions, export opportunities for Cholimex Namnueng products are opened.
Quality: Grilled pork sausage quality is one of the determinants of competition in the market
and also improves export efficiency. Moreover, Thai do not like products containing preservatives.
● Consumer Trend
Global Frozen Food Market is valued approximately USD 214.03 billion in 2019 and is
anticipated to grow with a healthy growth rate of more than 5.3 % over the forecast period 2020-
2027. (Icrowdnewswire, 2021)
Furthermore, according to research by real estate firm Coldwell Banker Richard Ellis
(CBRE) and Forrester, e-commerce demand for cold foods currently outpaces nearly every other
product for home delivery in terms of growth. In addition, higher consumer demand for cold foods,
combined with growing e-commerce options (Refrigerated & Frozen Foods, 2021). As for
Thailand, the results of the EDTA survey in March 2020 show that nearly 35% of Thai consumers
surveyed are increasingly ordering food online. (Marketingoops, 2020)
Besides, the improving living of standard of Thai people and their preferences towards the
convenience foods and easy to cook as it take less time and effort to cook the food indirectly drives
the demand of frozen food in the market (Icrowdnewswire, 2021). Thai people are starting to know
and accept frozen food widely. In addition, the diverse menu of flavors of frozen food, the nutritional
value, cleanliness and safety standards of the production process are also things that consumers care
about.
12
Thereby, it can be clearly seen that the trend of consuming frozen food, especially fast food,
among global people in general and Thai people in particular is growing. Therefore, this is an
opportunity for Cholimex to export Cholimex Namnueng products to this market.
Product category Stage of product life cycle

Because this is a new product introduced to foreign markets, it is still in the introduction stage.
At this stage, very few consumers know about the product's presence, so Cholimex Food needs to
introduce this new product to target customers. That job is to create a marketing strategy for the
product during the implementation phase, including investing in advertising and marketing
campaigns focused on creating awareness for users about the product and its benefits.
Structure of the industry

❖ The cost structure of the industry
Table 3.1 Cost statistics used in a year
Cost
Name
(Unit: VND)
Raw Material 5.765.321.300
Factory 3.678.420.000
Machine and equipment 2.893.308.876
Electric and water power 1.295.010.000
Office 345.048.000
Labor 2.818.565.000
Warehousing 108.000.000
Transport 1.067.582.950
Packaging 353.556.352
Total 18.324.812.478
❖ Competitive structure of the industry

The threat of new entrants: In Thailand, there are currently two famous Vietnamese
restaurant brands, Daeng Namnuang and VT Namnueng. For VT Namnueng, there are more than 30
stores. At the same time, it owns 4 main production bases located in Udon Thani and Chiang Mai
with a capacity of 50 tons of grilled pork sausage per day. For Daeng Namnuang developed into a
restaurant chain with 3 locations in Nongkhai, Udon and Chiang Mai. Her chain of grilled pork
sausage restaurants was honored by the Thai press as the most successful restaurant of Vietnamese
13
people in Thailand. This restaurant serves thousands of guests to enjoy grilled pork sausage. The
number of restaurant staff is more than 400 people to be able to meet the needs of customers.
The threat of substitute products: Thai people often have the habit of eating at home, so
they can choose traditional local dishes, or more popular frozen foods such as fish cakes, surimi,
sausages as substitutes rather than choosing grilled pork sausage.
Bargaining power of suppliers: Cholimex is more likely to negotiate with suppliers. Because
there are many safe pig slaughterhouses, food hygiene and safety are higher. This shows that the
process of slaughterhouses has been focused on, so the quantity and quality are stable, increasing the
possibility of negotiating with production companies. Moreover, the company often signs a long-term
contract and regularly inspects their production process, checks the input materials of the suppliers,
and determines the origin of the breeding stock. Therefore, the company's supply of raw materials is
always stable, ensuring that the required quality is met and the product traceability is guaranteed.
Bargaining power of buyers: Thai consumers are very strict in choosing reputable brands,
clear labels and origins, and products must meet food safety and hygiene standards. Therefore, the
company needs to focus on the production and processing stages to demand the needs of customers.
Besides, Thai people have average or higher incomes, they are price sensitive, so when there is a
competitor with a lower price, consumers will easily switch to another brand for consumption.
Competitive Rivalry: Cholimex will likely be under a lot of pressure from big competitors
when exportting Cholimex Namnueng to Thailand. These competitors have been in the market for a
long time and have earned the trust of customers. Moreover, competitors from Thailand pay a great
attention to product packaging. Products of these competitors are securely packaged and the
packaging is printed in Thai with easy-to-remember branding. Besides packaging and label design,
product quality standards are always set very strictly. The products of Thai competitors are highly
appreciated for their quality and taste, always meeting the evaluation criteria of Thailand.
14
Competitor Analysis
Table 3.2. Competitor Analysis
Competitors Strengths Weaknesses
- The Daeng Namnuang restaurant chain was honored - The delivery system is still slow, and
as one of the most successful Vietnamese restaurants lack of products for customers.
in Thailand. - The price is still high compared to
- Daeng Namnuang is appreciated by Thai people as a other brands of grilled pork sausage.
Daeng delicious, attractive dish that does not contain
Namnuang preservatives and additives that affect consumers'
health, so it is highly appreciated by Thai people.
- Moreover, with the addition of vegetables, the spice
recipe is praised by the locals as being suitable for
taste.
- 30 stores under the VT Namnueng brand are - The packaging of VT Namnueng is

widespread and develop the most successful delivery considered by many to be not eye-
system in Thailand catching compared to the price as well
- The restaurant is strict in the process of selecting as other grilled pork sausage brands.
ingredients, from meat that must be sourced from - Vegetables that come with grilled pork
famous large companies to set up a team specializing sausage are often judged as not fresh
in growing clean vegetables. during transportation.
VT - VT Namnueng is loved by Thai people because of the
Namnueng delicious taste combined with the dipping sauce of
(1992) this dish, contributing to creating more attraction for
diners.
- The restaurant was established a long time ago (1992),
so it has a lot of experience in production and is loved
by many Thai people.
- Community mall of VT Namnueng has a modern
restaurant system serving grilled pork sausage to 1000
seats with more than 1,200 employees.
- The taste of grilled pork sausage is delicious, suitable - The delivery system is still slow
for the taste of Thai people. - Suthiluck Namnueng is a brand
- In particular, each of Suthiluck's Namnueng has established by Thai people, so it still
greater net weight compared to other brands' grilled faces a lot of competition compared to
pork sausage. Vietnamese Namnueng.
Suthiluck
- Dishes are carefully packaged, and when received,
diners can use them immediately without complicated
processing.
- The restaurant has discount promotions for grilled
pork sausage.
15
4. SWOT ANALYSIS
Table 4.1. Swot Analysis of Cholimex Namnueng
STRENGTH WEAKNESS
- Input materials are available, regularly checked to - The company has no experience in producing grilled
ensure that they demand the required quality and pork sausage.
ensure product traceability. - The shelf life of the product is short.
- The workforce is highly skilled and regularly trained - There is no reputation for grilled pork sausage in
to adapt to the changing environment Thailand.
- Products with guaranteed quality and reasonable - The product is difficult to store at normal temperature
prices come from a brand that has a long-standing because it is a frozen product.
reputation in the Vietnamese market. - The product is not too different from the competitors.
- The company has experience in making dipping
sauces suitable for Thai people's preference for
grilled pork sausage with dipping sauce and
vegetables. Delicious dipping sauces can give a
company a competitive advantage.
OPPORTUNITIES THREATS
- The trend of consuming convenient frozen food is - The company has to compete with famous brands of
increasing, because it helps to save time, is grilled pork sausage in Thailand.
convenient and quick to use by Thai people. - Thai consumers are price sensitive, so they often
- According to Cision PR Newswire, Thailand's frozen compare prices with other brands.
foods market is expected to register a positive CAGR - There are many substitute products for Thai
of 5.9% during the forecast period to 2022. consumers to choose from.
- Grilled pork sausage is a favorite dish which is - There are two seasons in Thailand: the dry season, and
chosen by many Thai families and people. the rainy season, with frequent storms and floods,
- Grilled pork sausage originates from Vietnam and which can pose challenges for transportation and
has been present in Thailand, so this is an opportunity storage.
when Cholimex exports Vietnamese products to - This is the first time Cholimex has exported to
Thailand. Thailand, so understanding the culture here is also a
- The taste of Thai people is quite similar to that of challenge.
Vietnamese people. - The market has many cases of making low quality
- Vietnam has been participating in the ASEAN which grilled pork sausage, counterfeiting products will
has opened up a lot of opportunities for businesses in cause loss of trust for consumers when using new
the food industry to develop and increase export products.
opportunities. - Ensuring supply is difficult if there is a case of African
swine fever or other diseases.
16
5. TARGET MARKET DESCRIPTION
Market Segments
Table 5.1. Market Segmentation of Cholimex Namnueng
SEGMENT 1 SEGMENT 2 SEGMENT 3 SEGMENT 4
DEMOGRAPHIC
Age 6-15 15-24 25-55 >55
No income/ depend on Low or no come Flexible/ unstable/ Stable (accumulate)

parents (<9000 Baht/month)/ stable (15.000 Baht - (>26000 Baht/
Income depend on parents 25.000 Baht/ month) month)/Low or no
income (depend on
pension)
Single/Married/
Status Single Single/Married Grandchild
Married with kids
Depending on family/ Depending on family/ Depending on family/

Working/Middle/
Social Class Working/ Middle/ Working/ Middle/ Working/ Middle/
Upper Class
Upper Class Upper Class Upper class
Anywhere in Anywhere in Anywhere in Anywhere in

Thailand, but a lot Thailand, but a lot Thailand, but a lot Thailand, but a lot
GEOGRAPHIC
more people in urban more people in urban more people in urban more people in urban
areas and large cities. areas and large cities. areas and large cities. areas and large cities.
PSYCHOGRAPHIC
Actives, Participate Energetic, willing to Normal, simple, busy Spend more time with
and express their try out new things, with work, family, price-sensitive
Lifestyle opinion, like to play price-sensitive convenient, spend
with friend more time with
family, price-sensitive
Like catching-eye Like catching-eye Mature, pay a lot of Need respect, grumpy/
appearance, cartoon appearance, following attention to the price pay attention to health
Personality character, color, self- trends, self- and taste of the
assertion, sensitive confidence, like to product and work
explore. hard.
Prioritize delicious, Prioritize delicious, Prioritize delicious, Prioritize good

eye-catching convenience, fast, and convenience, fast, quality, healthy,
Perception
appearance cheap ensure food safety, ensure food safety
and cheap.
Suitable for their Suitable for their Suitable for appetite, Suitable for appetite,
interest, colorful, interest, new product, family, and children family, and children
Motivation
complimentary gift, famous product
imitating their friends
17
BEHAVIORAL
Convenience store, Convenience store, Supermarkets, Supermarket, grocery

supermarket, near supermarket, near groceries, convenience store, market
Buying place school, grocery store school, grocery store, stores, market,
e-commerce, market e-commerce,
near office
Light (1-2 Light (1-2 Medium (3-5 times/ Light (1-2 times/
Usage Rate
times/week) times/week) week) week)
Aromatic, no spicy Highly-seasoned, Highly-seasoned, Aromatic, stinging,

Taste
aromatic, stinging aromatic, stinging less grease
Delicious, fast food, Convenience, Convenience, quality, Quality, healthy

Benefit
eye-catching delicious, delicious, eye-
Expectation
eye-catching catching
Friend, family, media, Friends, family, Friends, colleagues, Family, friends,

Preference group influencer, idol media, influencers, family, relatives, word relatives, word of
(celebrities) idols (celebrities) of mouth, media mouth
Target Marketing Identification and Segmentation Strategy

Target Customer: Segment 3
• Demographics:
- Income: 15.000 Baht - 25.000 Baht
- Age: 25 - 55
- Status: Single, married, married with one or two kids
- Social class: Working class, middle class, upper class
• Geographics: Anywhere in Thailand, but a lot more people in urban areas and large cities are
willing to buy the product.
• Psychologics:
- Personality: Mature, pay a lot of attention to the price and taste of the product and work
hard.
- Perception: Prioritize delicious, convenience, fast, ensure food safety, and cheap.
- Lifestyle: Normal, simple, busy with work, convenient, spend more time with family, price-
sensitive
- Motivation: Suitable for appetite, family, and children
18
• Behavior:
- Buying places: Supermarkets, groceries, convenience stores, market, e-commerce, near
office
- Usage rate: Medium (3-5 times/ week)
- Taste: Highly-seasoned, aromatic, stinging
- Benefit Expectation: Convenience, quality, delicious, eye-catching
- Information sources: personal sources (friends, colleagues, family, relatives, word of mouth),
commercial sources (sellers, advertising, internet and so on), and public sources (radio
stations, television stations, newspapers, electronic newspapers, and websites/web portals,
social networks).
Marketing positioning: Convenient, fast, cheap

Market Entry Strategy: Exporting
Cholimex Namnueng will apply both ways of exporting including
- Direct sales (business or customers can buy the product directly and have it shipped to their
locations)
- Use of an intermediary (Cholimex Namnueng will distribute the product to some wholesalers
and retailers)
6. INTERNATIONAL MARKETING GOALS AND OBJECTIVES
International Objectives
- Improve profit margin by 20% compared to previous years
- Diversifying the company's products: Cheese tofu, shumai, etc.
Market Objectives
❖ Short-term (1-3 years)
● Monthly: the official price for Cholimex Namnueng will be 250 baht for 5 sticks. We set out
the goal that every month the total revenue for store selling would be 1,364 billion VND for
2000kg. And for online selling, the total income for a month will be 342 million Vietnam
dong for 500kg.
● Yearly: the money earned from the store selling will be 16,379 billion Vietnam dong and for
online shopping will be 4,047 billion Vietnam dong. In total, the estimated revenue from the
first year would be 20,426 billion Vietnam Dong.
- 2nd year: 24,860 billion VND
- 3rd year: 26,517 billion VND
- We’ll reach the break-even point after 3 years
19
● Increase the brand awareness by 5%
❖ Long-term: (4-5 years)

- Revenue of 4th year: 28,026 billion VND
- Revenue of 5th year: 30,015 billion VND
● Occupying 20% of the export market of grilled pork sausage in Thailand
● Become the leading exporter of grilled pork sausage in Vietnam market
● Raise the brand awareness up to 25%
7. MARKETING PROGRAM
Product
7.1.1 Product Positioning
Positioning map
High Price
Low Price
Low Quality High Quality
Figure 7.1. Positioning map between Cholimex Namnueng and the opponent
The company will implement the benefit positioning for positioning the product. The
company will continuously add new features as well as more nutritious elements in the product to
improve it.
20
7.1.2 Type of product
Convenient food: Cholimex Namnueng (Cholimex แหนมเนื อง) is an inexpensive, frequently
purchased, time-saving and effortlessly purchased products which can be found and bought
everywhere such as markets, supermarkets, grocery stores, convenience stores.
7.1.3 Product Dimensions

➢ Core Product: Products demand the needs of customers for food, convenience, and fast.
➢ Generic product:
• Brand names: The new product has been launched under the brand name Cholimex
Namnueng (Cholimex แหนมเนื อง) registered for a protection license at the Department of
Intellectual Property Thailand (DIP).
• Packaging:
Our target customers prefer simple, convenient packaging. The packaging will be made from
hard plastic for better preservation, avoiding damage during long distance transportation. When
shipped to Thailand, the product will be packed in a foam box to ensure a low temperature for the
product, to prevent rancid and unqualified grilled pork sausage during transportation.
Since this is a new product on the market, nutritional information as well as an introduction
will be added to the back of the product for more information easily found.
There will be 2 pack sizes: 250g (17.2x 11.1 x 2.5cm) and 500g (17.2x 11.1 x 5.5cm)
Figure 7.2. Packaging design of Cholimex Namnueng

• Trademark: The slogan “Cholimex Namnueng - 100% real pork” written in Thai will be the
message that helps the company to affirm that the product has quality ingredients. This will
create a trust for customers and help Cholimex distinguish it from other brands in the market.
21
• Ingredients panel design
Table 7.1. Ingredients information of the product
No. Ingredient
1 Pork
2 Garlic
3 Sugar
4 Fish sauce
5 Pepper
6 Salt
7 Water
8 Glutinous-rice wine
9 Flavor enhancer (E621)
10 Food stabilizer (E407)
➢ Auxiliary Dimensions
Company contact information: Free consultation, receive comments via hotline
Purchase packaging (bulk transactions)
Instructions: Information on storage temperature (-18 degrees Celsius or in the freezer),

instructions for use (baking at 180 degrees Celsius for 5-6 minutes or frying at 160-170 degrees
Celsius, no need to defrost), instructions on how to make the dish more delicious (with sauce and raw
vegetables, better when eaten hot) are printed on the package to help customers know and preserve
the product properly to avoid damage.
7.1.4 Branding approach: Product line extension

New products are introduced that they are in a related product category which is frozen
products. These types of products all serve the “convenient product” need of the market.
7.1.5 Develop new products:
New products and new flavors will be added later on when entering the market.
• Frozen food: Cheese tofu, shumai, etc.
• Sauce: Grilled pork sausage marinade, grilled pork sausage sauce, etc.
22
Price
Cholimex Namnueng will sell for 250 baht for 5 sticks and 350 baht for 10 sticks. As a
new product, the price objective of Cholimex Namnueng is to gain market share quickly, because the
company just began selling products there. The product price will be determined according to
competition–based price.
Table 7.2. Competitor's Grilled Pork Sausage Price
Brand Price
VT Namnueng 260 Baht (5 sticks), 380 Baht (10 sticks)
Daeng Namnuang 260 Baht (5 sticks), 380 Baht (10 sticks)
Suthiluck 180 Baht (5 sticks without vegetable), 260 Baht (5 sticks with vegetable)
• To meet this objective, the company chooses the penetration pricing strategy that charges the
lowest price the company can afford.
• This method discourages entry by competitors. It also helps the company quickly build sales
figures and establish a larger market share and provides time for consumers to develop a
brand, product, and company loyalty.
• Each year the firm will increase its price by 5% while price elasticity remains low.
• Term of sale
The company can buy insurance for in order to prevent risks that can happen at any time.
Causes can be objective from natural conditions e.g. storms, floods, or can also be subjective causes
due to human carelessness such as fires, explosions, collisions.
The company's delivery condition is CIP (Carriage, Insurance paid to). Specifically, we will
contract with Service Export Insurance to ensure that if something goes wrong during transportation,
the insurance company will have to deal with the customer.
CIP can be used for any mode of transport, including sea and multimodal transport such as
road, air, water.
• Terms of payment
Businesses and customers can pay in many different forms such as cash, credit cards, etc.
• Businesses:
- For businesses buying in large quantities (over 1 ton): 50% payment in 7 days before receiving
goods, payment of the remaining 50% in 3 days after receipt of goods.
- For businesses buying in small quantities (500kg to under 1 ton): 30% payment in 7 days
before receiving goods, payment of the remaining 70% in 3 days after receipt of goods.
- Customer: Direct payment by cash or credit card upon purchase for wholesaler and retailer
23
Place
7.3.1 Define distribution goals
Target:
Building relationships and goods into many supermarket chains and convenience stores such
as Big C Go, 7-Eleven in Bangkok.
Expanding distribution channels to provinces and cities in the North, Northeast, Central, East
and South of Thailand (Pattaya, Phuket, Chiang Mai, Nonthaburi, Hat Yai, Khon Kaen, etc) and
retailers, market.
7.3.2 Channel and marketing decisions:

Channel Decisions: Using the intensive distribution strategy in which products are distributed
through as many wholesalers and retailers as possible. This doesn't only allow consumers to purchase
the products everywhere, easily search and choose while not spending too much effort to buy but it
also has longer international marketing.
Channel Strategies: The company opts for a push strategy. We’ll aim at wholesalers and
retailers such as supermarkets and convenience stores in Bangkok first, then those intermediaries will
promote the product to the end-consumer.
7.3.3 Distribution channels

Cholimex Company will distribute through 2 channels: Consumer Channels and Business-to-
Business Channels.
• Consumer Channels:
Firstly, the company will distribute the product to wholesalers and retailers. Cholimex
Namnueng will be displayed in more than 1,374 Big C Go supermarkets, 130 Makro supermarkets,
and 12,000 7-Eleven stores all over Thailand. There, the customers will then come to pick up the
product in those stores.
Second, Cholimex Namnueng will be distributed in the retail form to grocery stores or
traditional markets and then the product will be delivered to the end-consumer.
Wholesale Retail
End-user
Agent Agent
Cholimex Retail
Company Agent
Figure 7.3. Consumer structure 24

• Business to Business Channels:
For customers who prefer only online shopping, Cholimex company collaborates with
Shopee, Lazada, etc., will act as an independent agent or broker helping businesses, non-profit
organizations and the community to expand through e-commerce to foreign countries. Shopee,
Lazada will operate as an online retailer working on a commission basis and facilitating international
sales. They will not own the product, but only help connect foreign customers with Cholimex
company.
Cholimex Industrial
End-user
company Agent
Figure 7.4. Business to Business Channels

• Transportation:
Table 7.3. Cost of means of transportation of
goods from Vietnam to Thailand
Mode Ship Van
Reliability High High
60.000 VND/kg
Cost 913.300 VND/20’DC
(from VN to Thailand)
Speed about 3 days about 4-5 days
Capacity Larger quantity Smaller quantities
Note: Container Size:

Container 20'DC: 6m long, 2.4m wide, 2.6m high.
Promotion
Communication message: “Cholimex Namnueng - 100% real pork”. This message is
consistent with the excellent product quality that the brand will bring to Thai consumers.
7.4.1 Advertising
❖ Advertising Objectives
- Create brand and product awareness by 15%
- 10% increase in popularity in 3 months
- 5% increase in purchase intent and experience in 3 months
25
❖ Select advertising channel
Table 7.4. Advertising channels
Offline Advertisement: Supermarket, convenience

store, (Big C Go, 7-Eleven at Bangkok)
The stage of creating
Online Advertisement:
awareness and influencing
• Facebook, Instagram ads
considerations
• TrueView in-stream ads/ Overlay+remarketing
• Display Youtube ads
Offline Advertisement: Supermarket, convenience store, (Big

C Go, 7-Eleven, Makro Sathorn supermarkets), grocery store
in Thailand
Online Adverstisment:
Stage of push action and
• Facebook, Instagram ads
commercial loyalty
• TrueView in-stream ads/ Overlay+remarketing
• Display Youtube ads
• Website of company
• E-commerce
• Advertising at Convenience Stores - Supermarkets: hang billboards around the store,

decorate with the dominant earthy orange tone, sponsoring banners, hanging boards on high
positions for consumers to easily spot, models of inflatable Cholimex Namnueng, people
wearing Cholimex Namnueng costumes standing in front of the booth to greet customers, etc.
• Online advertising:
- Media Channel: Bangkok Post, Thai Rath (ไทยรัฐ), Daily News (เดลินิวส ์).
- Social network: Fanpage Facebook, Instagram, Youtube (Cholimex แหนมเนื อ).
- Content Facebook: 10s giphy design shows an image of Cholimex Namnueng rolling on the
grill, there is an oil brush for Cholimex Namnueng to look more delicious. And the name
Cholimex แหนมเนื อง appeared with the slogan: Cholimex Namnueng - 100% real pork.
- Youtube: using TrueView in stream ads and Overlay + remarketing
+ Advertising agent: A family is having a picnic and enjoying delicious Cholimex Namnueng.
In the ad, the father is grilling Cholimex Namnueng, while the mother and child are preparing
a meal (raw vegetables, dipping sauce).
+ Message: Cholimex Namnueng provides your family with a delicious meal to energize for a
good day.
+ Clip length: 20s
• Support media: People use subways (MRT), and buses as one of their most frequent means
of transportation, so posters will be put in the many crowded subway tunnels and on the bus
body.
26
7.4.2 Sale Promotion
➢ Goal: Reach a brand awareness level of 45% among people who use grilled pork sausage. In
addition, the Cholimex Namnueng product preference level is 30% and the Cholimex
Namnueng product experience and purchase level is 20% out of 45% of the brand awareness
people.
➢ Promotion activities
• Premiums
There will be 2 premiums in 2 years:
Year 1: For offline - Customers who buy Cholimex Nannueng products will receive a small
bottle of Cholimex brand chili sauce. This program will last throughout the first year. For online -
When customers buy an invoice of Cholimex Nannueng over 350 baht, they will receive a 10%
discount voucher on the invoice value when buying on e-commerce platforms Shopee, Lazada. This
program will last throughout the first year.
Year 2: For offline - First, customers will be given a bottle of Cholimex's small barbecue
sauce when purchasing Cholimex Namnueng products. This applies to the first 6 months in year 2.
Second, get a free ceramic plate when customers buy 1 pack of Cholimex Nannueng. This applies to
the next 6 months in year 2. For online - For wholesale customers, when buying over 100 bags,
customers will get 15 extra bags (bought on the company's website) which will take place in the 2nd
and 4th quarters of year 2.
• Sampling:
One of the best ways for customers to recognize grilled pork sausage 's quality is to let them
experience by themselves. Booths will be set up at the supermarket, where Cholimex staffs to
distribute at the booth for customers to try right away and other staffs are standing at the stall to
consult customers.
7.4.3 PR
There will be 2 main methods to execute this strategy:
Firstly, the company held a contest at 2 Big C Go supermarkets and 2 Makro Sathorn
supermarkets in Bangkok. The contest consists of 2 rounds of answering questions and making the
most eye-catching Cholimex Namnueng. There is also a performance in the competition to attract
people to attend. The program will take place in the first 6 months of the first year.
Secondly, The Cholimex company considers giving back is a very important to do. In the first
year, the company will organize a charity event for the province with the poorest people in Thailand,
Mae Hong Son. At this event, Cholimex will give the poor here a gift including food and drink and a
27
pack of Cholimex Namnueng. It will take place in the fourth quarter of year 1 and the third quarter of
year 2.
7.4.4 Direct Marketing

Online marketing on media such as replying to messages directly via messenger, email,
website, replying comments, etc., displaying ads in online search results.
Sales face to face through brand staff at supermarkets.

7.4.5 Promotional budget
Table 7.5. Promotional budget of Cholimex Namnueng
1st year 2nd year

Promotional Expenditures
1st 2nd 3rd 4th 1st 2nd 3rd 4th
quarter quarter quarter quarter quarter quarter quarter quarter
Youtube Trueview ads - 20s (300.000 baht) Overlay + remarketing (180.000 baht)
Internet Facebook 110.000 baht 90.000 baht 110.000 baht
Instagram 99.000 baht 80.000 baht 90.000 baht
Thai Rath (90.000 baht/ 1.000.000 prints)

Advertising Media channel Daily News (126.000 baht/ 850.000 prints)
BangKok Post (73.200 baht/ 72.000 prints )
In the convenience
400.000 baht (banner, poster, etc)
store, supermarket
Others (Poster, Poster on buses Subway tunnels

Subway tunnels, etc) (107.500 baht/ 5 buses) ( 324.000 baht)
21.900 baht/ 3000 26.000 baht/

Offline 35.000 baht/ 6000 Chili sauce
sauce bottle 3000 porcelain plate
Premium
Sale 90.000 baht/ 1500 voucher 208.000 baht/ 208.000 baht/
Online
Promotion (Shopee, Lazada) 1040 packs 1040 packs
300.000
Sampling
baht
175.000 175.000
Sponsors
baht baht
Public
Relations
220.000 200.000
Charity
baht baht
Total 2.502.200 baht (1.707.688.769 VND) 1.493.900 baht (1.019.549.298 VND)
8. PLANNING BUDGET
Planning Assumptions
The demand for frozen food is increasing and plays an important role. Long-standing
prejudice about frozen food among young shoppers are finally decreased and they're starting to
28
become more health-conscious. In addition, frozen processed foods are constantly developing with a
growth rate of 3-5% per year.
Raw materials for frozen food processing must meet different health needs. Food suitable for
needs means food that meets different health lifestyles such as dieters, exercise groups, elderly
groups, etc.
To correspond to the behavior of today's consumer groupings, who turn to late-night eating,
also known as the 4th meal (popular dishes such as fried chicken, chicken nuggets, frozen gyoza, hot
dogs, instant noodles, etc). 4th meal users tend to attach importance to choosing foods with high
nutritional value, good for health, even if the price is high. Food manufacturers need to adapt their
production of processed foods to the needs of modern consumers. Building the body's immune system
in a variety of low-fat, low-calorie forms that can be eaten even late at night or on a 4th meal, this
will be an opportunity for brands.
Previously, in order to keep up with consumer trends, especially in the food manufacturing
industry, Cholimex had to focus on safety standards in the production process from importing raw
materials to producing finished products. In the future, Cholimex needs to accelerate to improve
production quality and productivity to ensure the best product delivery to consumers by switching to
technology in the food industry, such as AI, automation or robotics.
Budget
8.2.1 Product
Table 8.1. Expenses of product
Name of expenses Spending (1st year) Spending (2nd year)
Packaging 130.631 Baht 143.871 Baht
Documents (exclusive trademark

192.000 Baht
registration, FDA license, etc)
Printing 22.448 Baht 25.612 Baht
8.2.2 Place
Table 8.2. Expenses of place
Shipping cost 87.915 Baht/ton 80.000 Baht/ton
Discount for distributors 1.600.750 Baht 1.650.000 Baht
Insurance cost 500.000 Baht 500.000 Baht
29
8.2.3 Promotion
Table 8.3. Promotional budget of Cholimex Namnueng
1st year 2nd year

In the convenience
store, supermarket

21.900 baht/ 3000 26.000 baht/

Premium
Online
300.000
Sampling
baht
175.000 175.000
Sponsors
baht baht
Public
Relations
220.000 200.000
Charity
baht baht
9. EVALUATION, MEASUREMENT, AND CONTROL
Product
Strengths:
Cholimex Namnueng product meet the taste and current trends of the target customer group
and market.
Packaging using both English and Thai helps to reach the most customers.
Weaknesses: Packaging design entirely from plastic is an environmentally unfriendly product

and current green consumer trend.
Solution: Improve packaging to become recyclable or degradable materials that protect the
environment.
30
Price
Strengths:
Low price strategy can help the company to sell the maximum number of products.
This strategy also helps the company prevent new competitors from entering the same market,
while increasing the competitiveness of existing brands, promoting the strong development of the
company.
Consistent with AFTA provisions, Thailand grants preferential tariff treatment to ASEAN
Member States, which eliminate all tariffs and quotas on virtually all goods imported into Thailand,
as thus reducing product costs.
Weaknesses:
Because the company chooses to enter at a low price that the company can afford. Because of
this, the first time the company enters a new market, the company may experience initial losses.
Low pricing will attract many customers, but if not careful, the company will be undervalued
and difficult to raise prices. Discount-hunting customers may withdraw when the company starts
raising prices
Solution: To maintain low pricing and then raise prices without fear of losing potential
customers. The company should raise prices slowly with customer incentive strategies to build loyalty
or increase the price of substitutes.
Place
Strengths: Cholimex's distribution strategies are diverse, this distribution strategy combines
both direct and indirect distribution channels flexibly.
Weaknesses: It is difficult to strictly control the situation where retailers may dump prices.
Solution:
A strategy is needed to incentivize channel members.
Regularly evaluate the members of the distribution channel to make timely adjustments.
It is necessary to actively pursue lawsuits if there is a situation of dumping by retailers. In

addition, perfecting the system of accounting books and documents in accordance with the provisions
of the law, keeping full records of the business situation in order to prepare evidence and arguments
to prove the lack of information, dumping of enterprises, organization of personnel, budget estimates,
development of plans to protect the interests of enterprises.
31
Promotion
Strengths: Cholimex is a large company and has implemented many successful marketing
strategies for export products, so continuing to plan to promote Cholimex Namnueng products can
still reach many customers.
Weaknesses: When entering the Thai market, Cholimex encountered competitors with long-
standing and prestigious brands. Therefore, Cholimex must make efforts to invest in promotion to be
able to create an image in the hearts of customers. This makes the company spend a lot of money on
promotion.
Solution: Diversify promotional activities. Choose a cheaper form of advertising when
customers are already aware of the brand image.
32
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36
APPENDIX 1
Table 1. Cost statistics used in a year
Cost
Name
(Unit: VND)
Raw Material 5.765.321.300
Factory 3.678.420.000
Machine and equipment 2.893.308.876
Electric and water power 1.295.010.000
Office 345.048.000
Labor 2.818.565.000
Warehousing 108.000.000
Transport 1.067.582.950
Packaging 353.556.352
Total 18.324.812.000
a
Table 2. Expected sales table in the first year of Cholimex Namnueng
Expected revenue
Amount Revenue
Quarter Month
(pack) (unit: Baht)
January 7,000 1,750,000
Quarter 1 February 8,500 2,125,000
March 9,500 2,375,000
April 10,000 2,500,000
Quarter 2 May 11,000 2,750,000

Cholimex
Namnueng June 11,200 2,800,000
July 11,800 2,950,000
Quarter 3 August 12,000 3,000,000
September 12,500 3,125,000
October 12,700 3,175,000
Quarter 4 November 12,800 3,200,000
December 13,000 3,250,000
33,000,000
Total 132,000
(22,596,374,889 VND)
b
Table 3. Expenses of product
Packaging 130.631 Baht 143.871 Baht
Documents (exclusive trademark

192.000 Baht
registration, FDA license, etc)
Printing 22.448 Baht 25.612 Baht
Table 4. Expenses of place
Shipping cost 87.915 Baht/ton 80.000 Baht/ton
Discount for distributors 1.600.750 Baht 1.650.000 Baht
Insurance cost 500.000 Baht 500.000 Baht
c
Table 5. Promotional budget of Cholimex Namnueng
1st year 2nd year

In the convenience
store, supermarket

21.900 baht/ 3000 26.000 baht/

Premium
Online
300.000
Sampling
baht
175.000 175.000
Sponsors
baht baht
Public
Relations
220.000 200.000
Charity
baht baht
d
APPENDIX 2
PRODUCT DESIGN IMAGES
Figure 1. Product packaging design image
e
APPENDIX 3
MEMBER’S GROUP WORK ASSESSMENT
Evaluation Criteria – The members all support each other to perform, so the evaluation
of completed work will divided as follows:
M: Main grip
c: complete with the main holder
Table 1. Member’s group work assessment
My Diep My Duyen Thu Trang Tuong Vy
No. Name/Work
(100%) (100%) (100%) (100%)
1 EXECUTIVE SUMMARY
1.1 Brief overview of the company M c M c
1.2 Company’s main product c M c M
1.3 Target country M c M c
2 SITUATION ANALYSIS
2.1 Company Analysis c M c M
2.2 Organization Assets and Skills M c M c
3 MARKET ANALYSIS
3.1 Analysis of the Internal Environment
3.1.1 Human Resources c M c M
3.1.2 Material Resources M c M c
3.1.3 Financial Resources c M c M
3.2 Analysis of the External Environment
3.2.1 Macroenvironment M M M M
3.2.2 Microenvironment M M M M
3.3 Nature of Demand c c M c
3.4 Size and Extent of Demand M c c M
3.5 Product category Stage of product life cycle c M c c
3.6 Structure of the industry M c c M
3.7 Competitor Analysis c M M c
4 SWOT ANALYSIS M M M M
5 TARGET MARKET DESCRIPTION
5.1 Market Segments M M M M
5.2 Target Marketing Identification and Segmentation Strategy M M M M
5.3 Marketing positioning M M M M
5.4 Market Entry Strategy M M M M

f
6 INTERNATIONAL MARKETING GOALS AND OBJECTIVES
6.1 International Objecticves M M M M
6.2 Market Objectives M M M M
7 MARKETING PROGRAM
7.1 Product M M M M
7.1.1 Product Positioning M M M M
7.1.2 Type of product M M M M
7.1.3 Product Dimensions M M M M
7.1.4 Branding approach M M M M
7.1.5 Develop new products M M M M
7.2 Price M M M M
7.3 Place M M M M
7.3.1 Define distribution goals M M M M
7.3.2 Channel and marketing decisions M M M M
7.3.3 Distribution channels M M M M
7.4 Promotion M M M M
7.4.1 Advetisting M M M M
7.4.2 Sale Promotion M M M M
7.4.3 PR M M M M
7.4.4 Direct Marketing M M M M
7.4.5 Promotional budget M M M M
8 PLANNING BUDGET
8.1 Planning Assumption M M M M
8.2 Budget M M M M
8.2.1 Product M M M M
8.2.2 Place M M M M
8.2.3 Promotion M M M M
9 EVALUATION, MEASUREMENT, AND CONTROL
9.1 Product M M M M
9.2 Price M M M M
9.3 Place M M M M
9.4 Promotion M M M M

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THE FINANCIAL

UNIVERSITY OF FINANCE – MARKETING

INTERNATIONAL MARKETING PLAN PROJECT FOR

HCMC, Month 08/ 2021

INTERNATIONAL MARKETING PLAN PROJECT FOR

HCMC, Month 08/2021

Company’s main product

Target country: Thailand

Enterprises invest in automatic machinery and equipment at stages to increase labor

Organization Assets and Skills

3.1.1 Human Resources

3.1.2 Material Resources

Net revenue from sales: 2,263,329,000,000 (VND)

3.2.1 Macro environment

Harmonized Tariff Schedule of Thailand

Prior notice of imported foods

Economic relations between Vietnam and Thailand: According to a reporter of TTXVN

❖ Social and Cultural Environments

Population: (Worldometer, 2021)

- The current population of Thailand is 69,993,027 as in 2021, based on Worldometer

Age: The median age in Thailand is 40.1 years. (Worldometer, 2021)

Figure 3.1. The Gross Domestic Product per capita in Thailand

International Telecommunication Union (ITU) and the National Broadcasting and

Thailand's transportation system is quite diverse and convenient.

Distribution intermediaries in Thailand: convenience store system 7-Eleven, Makro Sathorn

● List of main raw material suppliers:

Agricultural products: Phuoc Thanh Da Lat Cooperative (Da Lat Coop)

Figure 3.2. Current competitors in Thailand

- Grilled pork sausage is sold at traditional Thai markets.

Size and Extent of demand

Opportunities in Thailand's food processing sector continue to grow as domestic processed

Product category Stage of product life cycle

Structure of the industry

Raw Material 5.765.321.300

Machine and equipment 2.893.308.876

Electric and water power 1.295.010.000

❖ Competitive structure of the industry

Competitors Strengths Weaknesses

- 30 stores under the VT Namnueng brand are - The packaging of VT Namnueng is

SEGMENT 1 SEGMENT 2 SEGMENT 3 SEGMENT 4

Age 6-15 15-24 25-55 >55

No income/ depend on Low or no come Flexible/ unstable/ Stable (accumulate)

Depending on family/ Depending on family/ Depending on family/

Anywhere in Anywhere in Anywhere in Anywhere in

Prioritize delicious, Prioritize delicious, Prioritize delicious, Prioritize good

Convenience store, Convenience store, Supermarkets, Supermarket, grocery

Aromatic, no spicy Highly-seasoned, Highly-seasoned, Aromatic, stinging,

Delicious, fast food, Convenience, Convenience, quality, Quality, healthy

Friend, family, media, Friends, family, Friends, colleagues, Family, friends,

Target Marketing Identification and Segmentation Strategy

Marketing positioning: Convenient, fast, cheap

6. INTERNATIONAL MARKETING GOALS AND OBJECTIVES

❖ Long-term: (4-5 years)

7.1.1 Product Positioning

Low Quality High Quality

7.1.3 Product Dimensions

Figure 7.2. Packaging design of Cholimex Namnueng

9 Flavor enhancer (E621)

10 Food stabilizer (E407)

Purchase packaging (bulk transactions)

Instructions: Information on storage temperature (-18 degrees Celsius or in the freezer),

7.1.4 Branding approach: Product line extension

VT Namnueng 260 Baht (5 sticks), 380 Baht (10 sticks)