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GROUP ASSIGNMENT
COVER SHEET
STUDENT DETAILS
Student name: Phan Cao Student ID number: 31211020094 Student name: Bùi Thanh Diệu Hiền Student ID number: 31221023299 Student name: Trần Đỗ Tuấn Khoa Student ID number: 31221021269 Student name: Trần Hiền Ngân Student ID number: 31221025831 Student name: Võ Trúc Thanh Student ID number: 31221021982 UNIT AND TUTORIAL DETAILS
Unit name: International Marketing^ Unit number: IMk_S3_DH48ISB- 3
Tutorial/Lecture: Mr. Tang Thuong Phat Class day and time: Friday Lecturer or Tutor name: Ms. Pham Ngoc Tuong Loan ASSIGNMENT DETAILS Title: Project Presentation Length: 10,011 words Due date: 09/08/2024 Date submitted: 09/08/ DECLARATION I hold a copy of this assignment if the original is lost or damaged. I hereby certify that no part of this assignment or product has been copied from any other student’s work or from any other source except where due acknowledgement is made in the assignment. I hereby certify that no part of this assignment or product has been submitted by me in another (previous or current) assessment, except where appropriately referenced, and with prior permission from the Lecturer / Tutor / Unit Coordinator for this unit. No part of the assignment/product has been written/ produced for me by any other person except where collaboration has been authorised by the Lecturer / Tutor /Unit Coordinator concerned. I am aware that this work may be reproduced and submitted to plagiarism detection software programs for the purpose of detecting possible plagiarism (which may retain a copy on its database for future plagiarism checking). Student’s signature: Phan Cao Student’s signature: Bùi Thanh Diệu Hiền Student’s signature: Trần Đỗ Tuấn Khoa Student’s signature: Trần Hiền Ngân Student’s signature: Võ Trúc Thanh Note: An examiner or lecturer / tutor has the right to not mark this assignment if the above declaration has not been signed.
TABLE OF CONTENT
- Company Introduction and Market Research................................................................................
- 1.1. Company Introduction................................................................................................................
- 1.2. Identifying products with export potential.................................................................................
- 1.3. Determining your company’s export readiness..........................................................................
- 1.3.1. L’angfarm analysis ............................................................................................................
- 1.3.2. Industry analysis
- International Marketing Strategies..................................................................................................
- 2.1. Situation Analysis.......................................................................................................................
- 2.1.1. Business Environment
- 2.1.2. Market Analysis .................................................................................................................
- 2.1.3. Competitors Analysis
- 2.1.4. Organization Assets and Skills ........................................................................................
- 2.2. SWOT Analysis........................................................................................................................
- 2.2.1. Strengths and Weaknesses
- 2.2.2. Opportunities and Threats
- 2.2.3. Implications of SWOT Analysis .......................................................................................
- 2.3. Evaluation of alternative marketing strategies.........................................................................
- 2.3.1. Alternative Market Entry Strategies
- 2.3.2. Suggested Strategies
- International Marketing Mix Strategy And Economic Evaluation.............................................
- 3.1. Objective...................................................................................................................................
- 3.1.1. Organisation Mission and Corporate Strategy ...............................................................
- 3.1.2 Company Product/Market Objectives
- 3.2. Recommended marketing strategy...........................................................................................
- 3.2.1 Target Market and Market Entry Strategy
- 3.2.2. Market Positioning Strategy
- 3.2.3. Marketing Mix Product
- 3.2.4. Marketing Mix Place .......................................................................................................
- 3.2.5. Marketing Mix Price
- 3.2.6. Marketing Mix Promotion ...............................................................................................
- 3.3. Economic Evaluation................................................................................................................
- Recommendation/ Conclusion........................................................................................................
- Reference List...................................................................................................................................
- Group Evaluation Form..................................................................................................................
worldwide have confidence in the company's products. Thirdly, the attractive packaging with distinct Vietnamese cultural elements creates a sense of novelty and appeal that attracts foreign consumers. Last but not least, in 2022, Vietnam was a significant exporter of dried fruits, ranking as the 23rd largest exporter globally with $23.7 million in dried fruit exports. The primary destinations for Vietnam's dried fruit exports were China, Chinese Taipei, the United States, Canada, and Ireland (Dried Fruits in Vietnam, n.d.) so there is a rather high export potential for the Vietnamese dried fruit industry in general, and for L'angfarm in particular. 1.3. Determining your company’s export readiness 1.3.1. L’angfarm analysis L’angfarm is successful due to several reasons. First of all, the L'angfarm retail store system has also expanded to major cities across VietNam and this increases brand awareness and makes it more likely that customers will consider L'angfarm when they're looking for dried fruits. Also, the L'angfarm Buffet service model allows customers to have a hands-on, immersive experience with the company's agricultural products. Customers can visit the in-store buffet area and sample the various L'angfarm offerings (L’angfarm: Mỗi Sản Phẩm Là Một Món Quà, 2023). This allows clients to directly evaluate the goods before opting to buy. Buffet meals are a great marketing technique for L'angfarm since they provide a unique and interesting eating experience that may make the customers come back and increase sales. Customers who like this buffet experience are more likely to return to L'angfarm retail locations or make purchases through their online channels, thus this creative method opens up the potential for upselling and cross-selling. Last in order but not of importance, the company has partnered with celebrities and social media influencers (KOLs) to actively promote its products to consumers.
1.3.2. Industry analysis Vietnam's dried fruit exports are projected to reach USD 240 million in 2026, an increase of 3.7% compared to 2021 (Vietnam Dried Fruit Industry Outlook 2022 - 2026, n.d.). Therefore, the dried fruit industry in Vietnam can grow in the coming years. Although Vietnam has established its position as one of the leading producers and exporters of dried fruit, the industry remains very competitive globally. The Mesopotamian region, which includes parts of Iraq, Kuwait, Syria, and Turkey, has long dominated the dried fruit trade. In particular, Turkey is one of the largest exporters of grapes, while Israel and Tunisia lead the world in exports of other fruits such as dates (Topic: Dried Fruit Market, 2024). The future overall outlook for the international dried fruits market appears positive. The global dry fruits market size is expected to grow from $6.96 billion in 2024 to $10.41 billion by 2032, representing a robust compound annual growth rate of 5.16% during the forecast period. (Dry Fruits Market Size, Share & Growth | Global Report [2028], 2024). This anticipated expansion creates the potential for Vietnam's dried fruits industry to further strengthen its position in overseas markets in the next years.
2. International Marketing Strategies 2.1. Situation Analysis 2.1.1. Business Environment a. Political factors Political stability is crucial for business operations, influencing market entry and growth. Companies, including L'angfarm, must consider political factors when investing. In the US, recent trade policies, regulatory changes, and the broader political climate significantly impact L'angfarm’s marketing activities. For example, tariffs from the Trump era have largely continued under Biden, with new tariffs on $18 billion worth of Chinese goods announced in May 2024, adding $3.6 billion in taxes (York, 2024). Stricter environmental laws, like California's Proposition 65 and the FSMA, require L'angfarm to comply with extensive regulations affecting product labeling, marketing, and packaging. Consumer protection laws, such as the CCPA, impose penalties for noncompliance and influence digital marketing. These factors create a complex environment, demanding L'angfarm to adopt flexible strategies in supply chain management, pricing, and marketing to navigate the U.S. market's challenges. b. Economic factors In 2024, the US economy is resilient with a 2.2% GDP growth driven by high consumer spending and a healthy job market (Gibbard, 2024). However, GDP growth is expected to slow to 0.7% due to earlier monetary tightening and reduced fiscal assistance. US’s interest rates at 5.25%-5.5% could raise L'angfarm's borrowing costs and financial expenses if the company relies on loans. However, potential rate cuts in mid-2024, if inflation eases, could reduce this financial pressure
drones, sensors, and AI-based analytics projected to expand rapidly. These tools enable farmers, including those at L'angfarm, to monitor crop health, optimize irrigation, and manage inputs more efficiently, thereby potentially boosting yields and reducing environmental impact. Moreover, the rise of sustainable agricultural practices driven by technology, such as integrated pest management systems and soil health sensors, aligns well with consumer and regulatory demands for eco-friendly farming methods. These technological advancements not only promise operational efficiencies for L'angfarm but also support their position as a leader in sustainable and innovative agricultural practices in the US market. e. Environmental factors In 2021, US state and municipal governments, excluding federal transfers, invested $218. billion in infrastructure and transportation, representing 56% of total government spending in these areas. This funding supports a broad infrastructure network including ports, railroads, roadways, telecommunications, media, and IT systems. Ports in cities like Los Angeles and New York facilitate global trade, while extensive rail and road networks, such as interstate highways, ensure efficient domestic transport. Advanced telecommunications technologies, like fiber optics and wireless networks, provide crucial connectivity for personal and business communication. Media and technology sectors, led by major firms and startups, drive information dissemination and technological innovation, influencing global trends and enhancing economic competitiveness and societal connectivity in the US. In recent years, US demographic trends have seen significant shifts. The aging population, largely driven by the approaching retirement of the baby boomer generation, is poised to impact social security and healthcare systems. There's also a growing racial and ethnic diversity, with projections suggesting increases in Hispanic
and Asian American populations. These demographic changes are reshaping political landscapes and cultural dynamics. According to Census Bureau estimates, by 2050, non-Hispanic whites will comprise a smaller percentage of the population compared to African Americans, Hispanics, and Asians, who are expected to grow by approximately 30%, 60%, and more, respectively. f. Legal factors L'angfarm may be impacted by several bilateral agreements between the US and Vietnam, mainly in the areas of trade and investment. Significantly lowering tariffs and other trade barriers, the Bilateral Trade Agreement (BTA), agreed in 2001, normalized trade relations between the two nations. Furthermore, to further foster stability and confidence in business interactions, American companies investing in Vietnam are guaranteed protection by the United States-Vietnam Bilateral Investment Treaty (BIT). Because of the possibility for greater market access, lower trade costs, and legal protections, these accords offer L'angfarm a favorable environment that may improve its operations and growth in Vietnam.
segments, social media, and online reviews are some of the elements that impact consumer purchase behavior. Competitive pricing is emphasized in the digital marketplace, and mobile and e-commerce platforms provide convenience catered to a variety of lifestyles, necessitating careful targeting for business success. 2.1.3. Competitors Analysis a. Vietnamese competitors One of the most outstanding points of L’angfarm is that it has a farm for growing fruits, ensuring the quality of the harvested products. Meanwhile, products from other competitors of L’angfarm are unclear in origin. Therefore, L’angfarm has more advantages in terms of category diversity, and safe and exclusive products. Moreover, distinctive packaging sets it apart from the competition, impressing the buyers and increasing its brand recognition.
Although competitors possess many innovative technologies, L'angfarm also invests in production technology lines that meet Japanese standards. As a result, L’angfarm still has the potential to compete and survive in the local and international markets. b. International competitors The product lines come from famous brands from the markets of Thailand, China, and the Philippines. Although competitors export many different products, each market will be characterized by a type of fruit such as Thailand with durian, China with Sori, and the Philippines is famous for mangoes. Competitors in the region have the same products and technology, however, compared to competitors, L’angfarm’s products are considered better than those in the same industry. c. Substitute products Alternative products for L’angfarm dried fruit such as snacks, nuts, and granola bars are currently popular in the Vietnamese market. Moreover, US citizens are more likely to prefer convenience but nutritional products as an alternative to a main meal because of their busy lifestyles. 2.1.4. Organization Assets and Skills a. L’angfarm’s technology The business and production processes are strictly monitored, following food safety and hygiene regulations to ensure the health of consumers as well as the environment. Along with that is the focus on investing in quality equipment and storage to produce the highest quality final products,
uses a production line imported from Japan to ensure the highest product quality and nutrient preservation. ● Eco-friendly Packaging : Investment in eco-friendly packaging with cardboard material enhances the organic and environmentally conscious image of their products. 2.2.2. Opportunities and Threats OPPORTUNITIES THREATS ● Health Trends: Dried fruit products may benefit from the growing US market desire for natural, healthful snacks. ● E-commerce Growth: Easier market entry and reach can be facilitated by growing e-commerce platforms and online grocery buying trends. ● Partnerships and Collaborations: Business can improve the market presence and distribution channels by forming strategic collaborations with regional distributors, retailers, or food brands. ● Ethnic and Specialty Markets: Business can create a niche market presence by focusing on ethnic grocery stores and specialized food marketplaces. ● Intense Competition: Market share can be significantly impacted by intense competition from both domestic brands and other foreign exporters. ● Price Sensitivity: American consumers may have a price sensitivity, particularly when it comes to high-end imported goods, which could have an impact on sales. ● Economic Fluctuations: Changes to the economy, such as tariffs and currency exchange rates, can have an impact on pricing policies and profitability. ● Supply Chain Disruptions : Events like natural disasters or unstable political environments may cause supply chain interruptions that affect how trustworthy exports are. 2.2.3. Implications of SWOT Analysis L'angfarm should develop a pricing strategy that leverages its low-cost advantage to offer competitive prices while keeping good profit sẽ margins. This can involve tiered pricing, promotional offers, or bundle deals to attract new customers. One important thing to do is emphasize the organic or sugar-free nature of products via packaging and advertising to align with the consumption trend of healthy food and snacks as 73% of consumers agree that healthfulness is a key factor when choosing snacks. (Nielsen, 2023 Global Snacking Trends Report)
Prioritizing building a strong distribution network in the US is crucial. Partnering with established distributors or retailers specializing in healthy snacks or imported goods should be considered to shorten the market approaching stage. L’angfarm can search for new suppliers in advance to make financial strategy ahead and avoid being in shortage of ingredients serving a wider group of consumers. Expanding the product line to fit with the rising popularity of healthy eating diets to become more compatible with the US taste, L’angfarm can use its experience in managing e-commerce platforms in Vietnam and apply them to build its online stores and big US e-commerce sites like Amazon. L’angfarm can start their marketing with social media and influencer campaigns with the large Vietnamese community in the US based on their existing reputation domestically with apparently 1.3 million Vietnamese there (Migration Policy Institute, 2022) To overcome the highly competitive environment of the US, L’angfarm needs to differentiate itself by branding based on the unique flavor and high-quality organic base product. To be prepared for supply chain disruption, diversifying their suppliers and increasing the inventory capacity would secure them in case of unfortunate occurrences. Having planned out a thorough pricing analysis to come up with a detailed pricing strategy can keep the price competitive enough and create profits. This can optimize their cost advantage and give them enough financial strength to outlast new competition. 2.3. Evaluation of alternative marketing strategies 2.3.1. Alternative Market Entry Strategies Export Management Companies (EMCs) can help L'angfarm understand the US market better and reduce risk by taking care of logistics and sales, allowing faster entry. However, they come with less control over marketing, potential cost implications due to fees, and can lead to dependency. Export Trading Companies (ETCs) give more options for market access and financial services, with optimized shipments to reduce costs. However, L'angfarm may receive less focus from them compared to their other clients and have little control over marketing and sales. Agents have the highest local knowledge and provide the cheapest service as they operate on commission, providing flexibility to change if required. The downsides include L’angfarm’s limited control and potentially receiving less attention from those agents that have other clients to represent. Distributors have an established network and handle logistics and warehousing, with potential for marketing support. However, this usually comes with lower profit margins due to distributor cuts, competition within the distributor's list of partners, and limited control over pricing and product placement. Direct investment or retail can give L'angfarm full control with higher returns through direct customer contact. However, it's highly risky, needs a lot of resources, and takes the longest time to blossom.
From the positioning map, L’angfarm can be viewed as relatively cheap yet on the higher quality end product type. Such positioning inspired a positioning statement stating: “For health-conscious snack lovers seeking convenient and nutritious options, L'angfarm is the go-to brand for authentic and delicious Vietnamese dried fruits. We offer a wide variety of high-quality products made with the finest ingredients and modern techniques, perfect for on-the-go snacking or showing love and care for your loved ones at the most budget-friendly price.”
3. International Marketing Mix Strategy And Economic Evaluation 3.1. Objective 3.1.1. Organisation Mission and Corporate Strategy L’angfarm, as a specialty brand from Da Lat, is dedicated to diligently crafting products that embody the prestige and high quality synonymous with our region. Our commitment extends to producing goods that are beneficial to health, presented in aesthetically pleasing packaging, and backed by exceptional after-sales service. Our mission is rooted in the aspiration to introduce these exceptional products from our homeland to the US audience, thereby showcasing the unique offerings of Da Lat to the new market. The corporate strategy of L’angfarm in exporting dried fruits to the US market should focus on the following elements:
- Brand Positioning and product development: Strengthen their brand identity as a premium provider of Da Lat specialty products, emphasizing factors such as prestige, quality, health benefits, and environmentally friendly packaging. Moreover, L’angfarm differentiates its products from competitors by leveraging the region's unique agricultural and cultural offerings (fruits are nourished on a standardized farm in Da Lat).
- E-commerce and Digital Presence: Enhance their online presence and e-commerce capabilities to reach a wider audience, including developing a user-friendly website, engaging in digital marketing, and exploring partnerships with e-commerce platforms.
- Customer Engagement: Improve customer satisfaction and loyalty through personalized customer experiences, efficient after-sales service, and gathering feedback to continually improve products and services.
- Partnerships and Collaborations: Form strategic partnerships with other brands, retailers, or distributors, such as supermarkets or e-commerce channels like Amazon to expand their reach and access new markets or distribution channels. 3.1.2. Company Product/Market Objectives To drive L’angfarm's expansion in the US market, we will implement a comprehensive strategy across several key areas. Firstly, we aim to launch a fully functional e-commerce website by January 1, 2025, designed specifically for US consumers. This site will feature at least 50 dried fruit products, integrated payment systems such as PayPal and credit cards, and be optimized for mobile devices. To support this, we will allocate $15,000 for website development and hire a web developer. Secondly, we will seek to partner with 10 major US retailers or supermarket chains, like Whole Foods and Safeway, in the next 6 months when the L'angfarm brand reaches a massive number of US citizens. Engaging with retailers and supermarkets can ensure our products are distributed in at least 500 stores. Thirdly, we will obtain two US-based certifications, such as USDA Organic and Fair Trade, and display these on our packaging by March 31, 2025. Additionally, we will aim to increase online sales by 20% within the first 6 months by offering a 15% discount on first-time US customers’ purchases and launching a targeted digital ad campaign on platforms like Google Ads and Facebook Ads. $10,000 will be allocated for digital ads. This multi-faceted approach will enable L’angfarm to strengthen its presence and drive significant growth in the US market. 3.2. Recommended marketing strategy 3.2.1. Target Market and Market Entry Strategy a. Target Market Our target consumers are aged from 17 to 60 who are interested in health issues. According to Statista Consumer Insights, 50 percent of Americans claim to actively try to eat healthy. Also, the sentiment of pursuing the aim is most prevalent among Baby Boomers, with 58% agreeing, but it is not drastically lower among Generation Z, where 44% said they were also pursuing this goal. They can be students or officers who have busy lifestyles. They often have to work hard and have little time to choose what to eat every day but they still don't want to skip meals as they are concerned about their health. Some of them may have their diet to keep fit. Besides, although many of them are concerned about their health, they still enjoy snacks. As a result, dried fruit is also one of their favorite
meet the high requirements of the Japanese market before exporting to the US. The brand can provide a unique and healthy selection of Vietnamese fruits that offer customers a more genuine taste experience such as lotus root, and purple sweet potato. As for price, L’angfarm offers premium prices compared to foreign rivals, while also having attractive and environmentally friendly packaging products that can serve as healthy gifts for people as well as for the environment. 3.2.3. Marketing Mix Product Quality and Variety As a new product needed, L'angfarm offers high quality, natural sweetness, and preservative-free ingredients products that can adapt to the “health-conscious” trending lifestyle in the US. L'angfarm chose to export a range of dried tropical fruit products which are characteristic of Southeast Asia after learning about and comprehending the preferences of American consumers. These products fall into two main categories: crispy dried fruit and flexible dried fruit. Examples of these products include orange, passion fruit, papaya, banana, honey sweet potato, purple and yellow sweet potato, longan, jackfruit, dragon fruit, plum, apple, and other vegetables. The factory complies with strict food safety and hygiene regulations with clear raw material sources, uses no preservatives, and processes vacuum frying at low temperatures. These techniques enable them to meet ISO 22000 and Japanese standards, an international food hygiene and safety certificate that is recognized and valued worldwide. Packaging and Labeling Currently, L'angfarm strives for products with high sophistication and tight product quality standards to fit the trend of environmental friendliness and user comfort. As a result, L'angfarm selects paper-based kraft bags with a 100g capacity for their primary packaging and bulk choices for single-serving packs. Transparent plastic boxes with metal covers, either with a 120g capacity or 400g mawashi bag, are also available to allow buyers to readily view the product inside and to make international shipping easier. The product's freshness and environmental friendliness are still evident despite the elegant and simple packaging design. According to the U.S. Food & Drug Administration - FDA (2019), food labeling is required for most prepared foods, such as breads, cereals, canned and frozen foods, snacks, desserts, drinks, etc. Therefore, the label must consist of the Country of origin; Name and address of the manufacturer, packer, or distributor (e.g., “manufactured for” or “distributed by”); Product name; Nutrition facts; Net quantity; Ingredient lists; Manufacturing Date and Expiry Date; Business name and location; Food Allergen and Package Recycling; Claims; Mailing code. To guarantee that customers can comprehend and feel secure, this information is shown clearly, publicly, and logically in English on printed product packaging. Branding A local relevance strategy will work well for branding. L'angfarm may therefore support the COO effect by highlighting genuine Vietnamese heritage and the natural product quality that possesses tropical fruit features. US consumers who are concerned about their health may be drawn to
a product's catchy tagline that emphasizes its authenticity and purity. With the tagline: “Enjoy every bite, Always eat right” , this is the first message that L'angfarm will concentrate on delivering regarding the features and nutritional value of its products. "Enjoy every bite" refers to how customers should savor each bite. The promotional theme "Always eat right" will highlight L'angfarm's production process, which rigorously adheres to food and product safety and hygiene regulations, to set it apart from competing brands. Therefore, L’angfarm offers you a fair, amiable, and healthful alternative for your hectic daily schedule from L'angfarm. Warranty L'angfarm's dried fruit products are subject to warranty terms that guarantee freshness and cover product defects. All product-related problems are handled by a committed customer support team in the US, which also handles quality problems and offers assistance with product replacements. Customers can also immediately provide feedback about the product by emailing L'angfarm or via their homepage. Building trust and brand loyalty in a new market requires maintaining high standards of quality and providing effective customer service. 3.2.4. Marketing Mix Place a. Distribution channels L'angfarm's distribution strategy is meticulously crafted to appeal to health-conscious consumers by strategically positioning its products in both physical supermarkets and online platforms. In supermarkets, L'angfarm products are prominently displayed in the health food aisle at eye level, ensuring maximum visibility. This prime location is enhanced with clear signage that highlights key benefits such as "Natural Ingredients" and "Low-Calorie Snacks," catering directly to shoppers who prioritize healthier options and typically start their shopping journey in this section. To further capture the attention of health-focused consumers, L'angfarm also places a small, dedicated display stand near the produce section. This strategic placement introduces L'angfarm as a complementary snack option, aligning with the fresh, wholesome foods that these shoppers seek. Additionally, near checkout counters, L'angfarm leverages small displays or baskets that showcase their products, accompanied by promotional signage emphasizing both convenience and health benefits. This setup effectively targets impulse buyers who are looking for quick, healthy snacks as they finish their shopping. Beyond physical stores, L'angfarm expands its reach by offering products on major online shopping platforms such as Amazon and eBay. This online presence not only broadens the brand's accessibility but also caters to consumers who prefer the convenience of shopping from home, ensuring that L'angfarm's healthy snacks are available to a wider audience. b. Logistic management Effective logistics management is a critical component that plays a significant role in the overall success of the operation. After careful consideration, the team opted for sea shipment as the primary mode of transportation due to its cost-effectiveness, particularly when handling large quantities of supplies. Sea shipment offers a practical and economical solution for transporting
