Table of content

Marketing plan

1. Executive summary………………………………………………………………………………….1

2. Current marketing situation analysis………………………………………………………………1

2.1 Background information………………………………………………………………………….1

2.2 The macroenviroment…………………………………………………………….………………1

2.3 Market analysis……………………………………………………………………………………4

2.4 Competitors analysis…………………………………………………………………….………..4

2.5 About Homefarm…………………………………………………………………….…………….5

3. SWOT analysis…………………………………………………………………………….…………6

4. Marketing objectives………………………………………………………………………………….7

5. Marketing strategy…………………………………………………………………….………………8

6. Action program……………………………………………………………………………………….10

7. Budget…………………………………………………………………………………………...……11

8. Controls……………………………………………………………………………………………….12

Media plan

1. Objectives…………………………………………………………………………………………….12

2. Target audience……………………………………………………………………………………...12

3. Communication channels…………………………………………………………………………...13

4. Contents…………………………………………………………………………………..…………..13

5. Budget………………………………………………………………………………………………...13

6. Timeline…………………………………………………………………………………….…………14

7. Quantitative, qualitative criteria………………………………………………………………….…14

Reference list

Homefarm International Joint Stock Company

Marketing plan

1. Excutive summary

Homefarm international joint stock company is an imported food retail system with products such as
US - Australian beef, imported fresh salmon, and imported seafood products according to international
standards. The company was established in 2014. Currently the company has more than 200 stores in 3
big cities Ha Noi, Ho Chi Minh, Hai Phong. Homefarm pursues the mission of providing consumers with
food of international standards with healthy farming processes for peace of mind and the best taste
experience. Homefarm's goal is to become the number 1 company in providing international quality
food, with 1000 stores covering all provinces and cities of Vietnam, serving over 5 million customers in
the next 5 years. The company's intention in the future is to provide healthy, environmentally friendly
and healthy products to all Vietnamese consumers. In this marketing plan, the company offers an
organic salmon product line - the company's first environmentally friendly product with the ambition to
dominate the salmon market in Vietnam. This marketing plan is the beginning of a new product line as
well as a stepping stone to create momentum for the company's future development of environmentally
friendly products.

2. Current marketing situation analysis

2.1 Background information

Homefarm International Joint Stock Company is a chain of imported food retail stores with products
including American-Australian beef, imported Norwegian salmon, exported and imported seafood,
frozen food with the priority in the product quality. Homefarm opened its first store in 2014 and it is
headquartered in Hanoi. Homefarm pursues the mission of not only providing consumers with a food
source of international standards with a healthy breeding process for peace of mind and the best taste
experience but also trying to raise consumers's awareness of standard food and healthy food culture.
Homefarm's vision is to become the top one company in providing international quality food, with 1000
stores covering all provinces and cities in Vietnam, serving over 5 million customers and becoming one
of the top 100 companies with the best working environment in the next 5 years. Homefarm also aims
to provide healthy and environmentally friendly products to all Vietnamese consumers (Homefarm,
2021).

2.2 The macroenviroment

The Vietnamese government has successfully signed trade agreements with major developed
countries such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP),
the Free Trade Agreement between Vietnam and the EU. European Union (EVFTA) and the Vietnam - US
Bilateral Trade Agreement (BTA). The countries agreed to eliminate tariffs on Vietnam's imports and
exports through these countries, thereby reducing costs incurred for businesses. Retail businesses have
the opportunity to cooperate with major suppliers in the world as well as find more suitable markets
abroad. In response to the impact of the Covid-19 epidemic, the government issued Directive 11/CT-TTg
to support loans for retail businesses. The State requires banks to promptly meet the business capital
needs of enterprises, consider reducing loan interest and extending the repayment period for retail
businesses in difficulty so that they can operate with peace of mind, avoid having to stop working. The
Gross Domestic Product of Vietnam is forecasted to grow by 6% by the end of 2021. GDP has an
uptrend,

sho
wing that the economy is recovering strongly and this is a good sign for the retail industry. The
consumer price index is well controlled at approximately 3.3%, showing that retail prices of goods have
remained stable and do not fluctuate too much (BSC, n.d). Vietnam's population tends to increase to
100 million people, leading to an increasing demand for goods (Danso, 2021).
Vietnam is a country with a young population with a high proportion of the population under 55 years
old, these people have regular shopping habits, so the retail industry still has room for growth
(Vietnamnet, 2020). With the development of technology, retail businesses apply more efficient and
convenient forms of payment such as payment via e-wallet, fast transfer. Reducing payment on delivery
helps businesses save time, travel costs and attract more customers with attractive incentives via
payment methods. The situation of air pollution, soil pollution and water pollution in Vietnam is getting
more serious, causing businesses to gradually switch to environmentally friendly products and people
also tend to “green consumption”. Policies and laws in the retail sector in particular are still inadequate,
overlapping and have not brought about practical effectiveness (Uyen Huong, 2016).

2.3 Market analysis

 The retail market includes many segments such as food retail, jewelry retail, electronics retail or home
appliance retail. The size of the retail industry increased steadily every year and

reached a value of $180 billion in 2020 and the industry growth rate maintained an increase of not less
than 10% per year (MBS, n.d). Homefarm is a chain of stores operating in the food retail industry.
Homefarm's customers are consumers who love to eat imported beef and seafood of international
standards with high quality at affordable prices. The demand of customers is towards the consumption
of high quality, fresh products, originating in developed continent such as Australia or Europe. The
current shopping trend is online shopping through websites, social networks, e-wallets and e-commerce
platforms. Customers tend to choose prepared food with fast home delivery.

2.4 Competitor analysis

Homefarm's direct competitor is the DalatGap and Sea Wolf food chain . Products of Sea Wolf and
DalatGap include premium seafood, clean meat, dry food, organic vegetables and fruits.The strength of
these companies is the diversity in each product line. Meat is divided into beef, pork, chicken and goat
meat. Seafood is divided into fresh seafood, saltwater fish and freshwater fish. Sea Wolf and DalatGap
have quite large scale, revenue is 86 and 23 billion VND respectively. However, the weakness of these
two businesses is the limited number of
stores (38 stores of Sea Wolf, 3 stores of DalatGap) so there is no coverage and great brand recognition
(BizLIVE, 2019). Homefarm's indirect competitors are large food markets including Dong Xuan Market,
Binh Dien Market and Thu Duc Market. These markets have an area of over 50,000 m 2 with more than
500 stalls (Toplist, 2021). Their products are very diverse, including meat, seafood, and vegetables from
many places and they have the advantage of cheaper prices, a large number of stalls so consumers have
more choices when shopping. Because food sources come from many places, the quality is difficult to
ensure food safety and hygiene. The markets are concentrated in one place so it is not convenient for
customers living far from these areas.

2.5 About Homefarm

Homefarm offers high quality imported food including US - Australian beef, fresh imported salmon,
premium seafood, dairy products, sauces, condiments and dry foods.

Homefarm's BCG Matrix

Star: Question mark:
- Fresh Norwegian salmon:+ Salmon fillet - Convenient combos:+ Golden Sashimi Set
+ Salmon tail + Red Sashimi Set
+ Whole salmon + Green Sashimi Set
- Premium beef:+ Imported beef loin + Convenient Sashimi Set
+ Beef ribs
+ Ground beef
Cash cow: Dog:
 - Premium seafood:+ Imported squid - Imported cheese-buttermilk:+ Pasteurized milk
+ Imported snail + Yoghurt
+ Tiger prawns + Assorted cheese
+ Saba fish

Homefarm's potential products are convenient combos that are expected to save time and meet the
needs of busy consumers who can still enjoy nutritious meals. Their main products are imported salmon
and beef with large orders, accounting for most of the revenue and fully meeting the high demand of
consumers. Although Homefarm’s products are high quality foods, their prices are very affordable,
ranging from 50,000 VND to 900,000 VND depending on the weight. Compared to other stores, this
price is not too high and suitable for many people's budget.

3. SWOT analysis

Homefarm has a different orientation in terms of high-standard products, maximum customer service,
preliminary processing at the point of sale instead of simply selling like supermarkets. The products are
all of clear origin, international quality with affordable price. The company also has the advantage of
scale with more than 200 stores in 3 big cities: Hanoi, Ho Chi Minh and Hai Phong. The stores are located
on the main street, have convenient location and high population density. The company is accelerating
the expansion of 7 stores per month to increase coverage, affirm its leading position and increase brand
awareness as more people know about the store. The weakness of the company is that they do not have
their own application for customers to easily shop, manage spending, and reward points right on their
phones, but customers have to go through other units such as Shopeefood, Grabfood, Baemin. Stores
are small and do not have a spacious and airy space. In addition, the company does not have fresh fruit
and vegetable products to satisfy customers’s need. The events that Vietnam signed many trade
agreements with developed countries and opened the economy created opportunities for Homefarm to
receive abundant investment capital from abroad because macro factors are favorable for the growth of
Homefarm and the imported food retail industry. In the summer of 2021, Homefarm received a million
dollar investment from Alibaba's eWTP Technology and Investment Fund. This investment gives
Homefarm the opportunity to own 1,000 stores in a short period of time (Quynh Nhu, 2021). In the
complicated epidemic period, people's demand for clean, delicious and safe food increase, creating
advantages for Homefarm in expanding its business scale, providing a stable and convenient food
supply, being present everywhere to help customers minimize travel, thereby reducing the risk of
infection. However, the company still faces some threats. The epidemic causes the world's supply chain
to be delayed, the transportation time is prolonged due to the increase in inspection and testing stages
and the increase in freight charges leads to the increase in the cost of businesses. In addition, the
increase in the number of stores quickly in a short period of time can create difficulties in changing and
updating new products for the whole system such as changing processes, goods, product designs, logos
or brand colors. Changes to chain stores require a lot of time and effort to apply and a lot of promotion
programs for customers to get used to it. Owning a large number of stores makes the ability to carefully
manage the stores is limited. The company has taken advantage of large foreign investment capital to
promote store expansion. In early December 2021, the company has reached 200 stores and this
number is constantly increasing every month. When the company opens many stores, it will overcome
the weakness in store area. In each district, customers will be divided evenly through many stores
instead of gathering at one big store, creating a crowd. The epidemic is gradually being controlled, the
goods supply chain is gradually stabilizing, so the company's threat is eliminated.

4. Marketing objectives

Homefarm's long-term objective is to become the number one company in providing international
quality, healthy and environmentally friendly products for all Vietnamese consumers and increase
consumer awareness of healthy food culture. There are two mainsmall objectives Homefarm wants to
achieve with the launch of a new product line. The first goal is to sell the new product line to 40% of
existing customers to drive customers to green consumption habits in January 2022. This goal meets the
criteria of Specific (selling new products to existing customers), Measurable (40% of customers),
Achievable (Salmon products are selling well, with certain satisfaction from customers) , Relevance
(Company aims to provide environmentally friendly products), Time-bound (January 2022). The second
goal is to increase market share by 1% to increase brand awareness by 22% by the end of January 2022.
This goal meets the criteria of Specific (Increase market share), Measurable (22%, 1%), Achievable
(Company is opening more stores), Relevance (Increase brand awareness), Time-bound (End of January
2022).

5 Marketing strategy
 There are four market segments that the company can choose from. With the demographic segment,
customers are young people under the age of 40, with an income of over 10 million VND and they care a
lot about protecting the environment (Vietnamplus, 2021). With geographical segmentation, customers
are people who live in big districts and big cities in Vietnam such as Hanoi, Ho Chi Minh, Hai Phong, Da
Nang. The populations of these cities are highly educated, knowledgeable enough to recognize the
importance of protecting the environment. These large cities have high rates of environmental pollution,
so they will prioritize environmental protection products (IQAir, 2021). With the psychological segment,
customers in this market are people who like to use new products with high practical application,
beautiful design and high quality. They are willing to pay the purchase price if the product meets the
above criteria. With the behavioral segment, customers tend to repurchase products that give them
quality satisfaction (Create loyalty). In addition, when buying these products, they indirectly protect the
environment (Create benefit sought). Therefore, this marketing strategy focuses on the potential market
which are demographic segmentation and geographic segment.

Homefarm has just received capital from a large foreign investment fund and has improved the
company's financial resources. With the above two target markets, the company uses undiffrentiated
marketing strategy. There are three reasons companies choose this marketing strategy. Firstly, the
target audience the company wants to reach is very wide, so the number of customers will increase
rapidly. Secondly, this marketing strategy also helps the Homefarm brand to be widely known and
creates an opportunity to expand the business scale. Thirdly, the cost for this strategy is not too high, if
the strategy is successful, the company will gain high profit because of the low cost, if it is unsuccessful,
the loss cost of the business is low.

The company wants customers to know that the issue of environmental pollution is more concerned
than ever and Homefarm is the first food retail chain to launch a new product line that contributes to
environmental protection but still brings satisfaction. for customers. Organic salmon is raised to strict
standards, so the meat is fresh, delicious and more nutritious than regular salmon. The packaging of
salmon is biodegradable, instead of packing with foam trays, plastic films like rival companies' products.
Moreover, there is no retail chain in the market with similar products to Homefarm, so the company is
confident to be the pioneer in this campaign.
 The marketing mix of Homefarm’s new product line
Product The new product belongs to the organic food category called "Organic Norwegian
Salmon". Organic salmon is a line of salmon that is not likely to have genetic mutations,
they are raised with organic food, a completely clean water environment that meets
the standards of the world's leading organic organizations. Therefore, organic salmon is
firmer, tougher, more crispy and has twice the amount of Omega 3 than regular
salmon. Products are packed in a brown tray made from bagasse and wrapped with
biodegradable food wrap from partner AnEco. The top of the wrapper will be labeled
with a paper with detailed product information. Salmon printed packaging.

Price The products are priced as follows:

+ Whole organic salmon: 399,000 VND/ kg
+ Organic salmon fillet: 599,000 VND/ kg
+ Organic salmon tails: 329,000 VND/ kg
+ Organic salmon breast: 99,000 VND/ tray
+ Organic salmon head: 79,000 VND/ kg
+ Organic salmon bones: 29,000 VND/ kg
The pricing strategy the company uses is economy pricing. Homefarm will sell a gift of
Kikkoman Sashimi soy sauce when customers buy organic salmon product and others
promotion.
Place Organic salmon is available at all Homefarm stores. The company also sells this
product through its own website, Facebook page and online food apps Baemin,
Grabfood and Shopeefood.
Promotion In January 2022, customers who buy Homefarm's organic salmon products with an
invoice value of VND 499,000 or more will receive a free bottle of Kikkoman Sashimi
soy sauce worth VND 85,000. In addition, when paying at the store, customers can
accumulate points according to the mechanism of 1% of the value of each invoice, a
100,000 VND order accumulates 1000 points. Customers receive a 20% discount
voucher when shopping through Baemin, Shopeefood and Grabfood.
People The staff is fully trained and informed about the information of the new product and
ready to invite customers to use this new product. Employees must be able to convey
the message of environmental protection, towards "green consumption" that
 Homefarm sends in this new product to customers.
Process Salmon production and packaging processes are followed international procedures,
periodically checking to ensure the best product standards and providing customers
with a great experience.
Physical The company conducts user experience surveys and encourages customers to leave
evidence product reviews and comments on the company's website and Facebook page.

6. Action program

Activities Timeline Responsibility Implementing Cost (VND)

agencies
Product 1/10/2021 – Research the characteristics, Research and 50,000,000
research and 13/10/2021 advantages, and disadvantages development
development of new products, and make department
changes to suit the needs of
customers.
Product 13/10/2021 Finish new product packaging, Design 100,000,000
packaging – impressive design, in the style of department
design 20/10/2021 environmental protection.
Work, 20/10/2021 Cooperate with partners to Bussiness 600,000,000
negotiate with – offer reasonable promotions. Department
partners 20/11/2021 Complete contract signing.
Marketing 20/11/2021- Complete a highly effective Marketing 100,000,000
strategy 20/12/2021 marketing plan. Department
Training 20/12/2021 Employees get information Human 150,000,000
employees – about new products. resources
26/12/2021 Department
Advertising 1/1/2022 – Phase 1: “Homefarm - a Marketing Phase 1:
activities 31/1/2022 pioneering food chain to protect Department 150,000,000
the environment” Phase 2:
- Long, high quality product 450,000,000
introduction video posted on Total:
 Facebook to to spread the 600,000,000
message of environmental
protection
- KPI: 20,000 views, 3,000
interactions
Phase 2: “Homefarm - Let's join
hands to protect the
environment today”
- Advertised by celebrities to
connect the message to more
customers.
- KPI: + 15% increase in new
customers
+ 45% increase in sale
+ Facebook, website traffic
increased by 80%

Import, 27/12/2021 Import, manage warehouse, Business 1,000,000,000

packaging and – 31/1/2022 ensure enough quantity to Department
distribution distribute products to stores.
Customer 1/1/2022 – Get customer feedback, Customer 10,000,000
feedback 15/2/2022 customer support. service
Department

7. Budget

The total budget for marketing plan in 4.5 months of Homefarm is 2,871,000,000 VND. The cost for
product research, development is 50,000,000 VND. This cost is use in testing the taste and quality of the
product. The cost for product packaging is 100,000,000 VND and it is use in research and design new
packaging . The cost for partners coporation is 600,000,000 VND. This is the cost for advertising directly
in apps, apply discount codes and discounts. The cost for marketing strategy and training employees is
100,000,000 VND and 150,000,000 VND. The cost for advertising activities is 600,000,000 VND including
150,000,000 VND for Phase 1, 450,000,000 VND for Phase 2. The cost for import, packaging, distribution
is 1,000,000,000 VND. This cost is high because the company has to import a large amount of goods to
the warehouse. The cost for customer service is 10,000,000 VND. The remaining 10% (261,000,000 VND)
is the cost incurred during the operation.

8 Controls

In Phase 1, the company must sell 30% of the product. If not, the company increases the frequency of
posting about new products and runs Facebook ads to increase reach to customers. In Phase 2, the
company must sell at least 50% of the remaining product. If not achieved, the company will apply a 10%
discount (the same price as the old product) for organic products to accelerate sales. At the end of
January 2022, the company will evaluate the increase in brand awaress, market share based on the
amount of revenue (must increase by 70% over the same period), web, Facebook traffic (increase 80%)
and evaluates 40% of the number of existing customers who buy new products based on their purchase
history on the company system.

Media plan

1. Objectives

The purpose of the communication plan is to attract 40% of existing customers to use the new product
and increase brand awareness by 22%. Customers know about organic salmon and the Homefarm
brand.

2. Target audience

Target customers are existing customers and new customers They are people under 40 years old, with
income over 10 million VND, active, like to try new products and have a high sense of environmental
protection.

3. Communication channels

With digital owned media, the company uses its Facebook page, its main website, to post product
information. The advantage of this channel is that it is easy to edit information content, free of charge,
but only suitable for existing customers. With new customers, the company uses a paid channel to run
ads on Facebook and Google. Algorithms will help the post about organic salmon spread to many new
customers, they will click to learn, interesting information will stimulate customers' curiosity to
experience the product. This tool is suitable for people under 25 years old, they have a habit of using
social networks every day, have free time. Online channel measured by web traffic and followers.

With offline communications, the company uses the billboard format, this form is aimed at customers
from 25 to 40 years old, they are busy with work, do not often use social networks, or move on the road,
the company will use billboards in stores with the advantage of large stores on every route to reach but
is difficult to measure.

4. Contents

The company attracts attention with the trending words in the content of the article, creates interest
through the message of environmental protection, meets the desire for clean food to make the right
shopping action. In the first 2 weeks, the company released a new product MV. The video content talks
about product characteristics as well as the environmental protection message Homefarm wants to aim
for. At the same time, billboards with salmon Homefarm design are placed in front of each store. In the
next 2 weeks, the company uses the strong influence of celebrities to create trust from customers as
well as spread the product to more customers.

5 Timeline

Phase 1- Draw attention 2- Create trust

Time 1/1/2022-15/1/20222 15/1/2022-31/1/2022
Objective Awareness of the highlights of Create green consumption
organic salmon and its habits of customers.
environmental benefits.
Message Homefarm salmon protects the “Homefarm wants to live
environment. green”.
Hook Viral clip “Salmon- from Promotional articles
impossible to utopian”. “Homefarm- live green with
celebrities”.
Supporting tactics Social media Social media
Celebrities
6. Budget

Phase Cost (VND)

Phase 1 Total: 150,000,000
- Video: Ideate, shoot, edit 70,000,000
- Facebook, Google Ads 50,000,000
- Billboards 30,000,000
Phase 2 Total: 450,000,000
- Celebrities
+Miss Tourism Ngoc Diem 30,000,000 (1 post on personal page)
+Rapper Wowy 100,000,000 (1 post on personal page)
+Shark Nguyen Hoa Binh 200,000,000 (60 minutes livestream on
personal page + 1 post)
+Chu Dieu Linh 20,000,000 (1 post on personal page)
+Tan Pham 15,000,000 (1 video buy product)
+Schannel 35,000,000 (1 video buy product)
+VnExpress 30,000,000 (1 article)
+Suckhoe&Doisong 20,000,000 (1 article)

7. Quantitative, qualitative criteria

Quantitative criteria is based on the number of website visits, interactions, Facebook tracking, number
of orders. Qualitative criteria is based on evaluation quality and customer understanding and feelings
about the product.

Reference list

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cong trong mua dich, CafeF, Available at: https://cafef.vn/ceo-homefarm-ke-ve-co-duyen-voi-quy-
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