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How to make Thorakao's products more appeal to the consumers?

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Linh Tran Thi My

on 8 October 2014

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Transcript of How to make Thorakao's products more appeal to the consumers?

Project Background
Implementation
Course Name: Industry Project
Course Code: ACCT2118
Lecturer: Jaime Calbeto
Team LUTT

Vu Thi Du Uyen - s3275090
Thai Thi Truc Thanh - s3261800
Tran Tuong Thinh - s3298370
Tran Thi My Linh - s3298807

How to make Thorakao's products more appeal to the customers?
Analysis and diagnosis
Porter 5 whys:
Recommendation
Overview
Industry background
Developed beauty and personal care industry
90% cosmetic products imported
77% consumers prefer foreign brands
More diverse, attractive products
Foreign brands enter the rural segments

Brand Situational Analysis
80% for exporting and 20% for domestic market
Compete with mass-production foreign competitors (Unilever and P&G)
Issue on Thorakao
Lose brand market share
Thesis Statement
Even though Thorakao was the first local cosmetic products developed in Vietnam, its product's inability to appeal to the customers has made Thorakao losing its market share to other rivals
Market Research
Improve Package
on each product line
Phase 1
Phase 2
Phase 3
Phase 4
Phase 5
Define the problem
Develop plan for market analysis and data collection
Conduct qualitative research
Conduct quantitative research
Data collection and Analysis
Phase 6
Presenting data to the top management to assist final decision-making
Shape Impression
Logo Design
Color Design
Market Research
Improve Package
Problem: Product has no appeal to the customers
1. Why can’t Thorakao products appeal to the customers?
2. Why didn’t the products meet with today expectation?
3. Why didn’t Thorakao know specifically the demand of the consumers?
4.Why didn’t Thorakao do this?
5.Why did they think so?
The root cause:
Inefficient strategy
of developing products and product lines.

- Focus group discussion

- In-depth interview
Specifically,
Thorakao has failed to categorize its products into smaller product lines

=> Made Thorakao’s products less attractive to the consumers.
(Ha 2009)
- Get insight of consumers behavior
- Develop questionnaire
Face to face survey
- Based on Thorakao's previous personal selling system
- Data Analysis Software
SPSS
Tran Thi My Linh
Tran Thi My Linh
Tran Thi My Linh
Vu Thi Du Uyen
Vu Thi Du Uyen
Vu Thi Du Uyen
Vu Thi Du Uyen
Vu Thi Du Uyen
Vu Thi Du Uyen
Vu Thi Du Uyen
Vu Thi Du Uyen
Thai Thi Truc Thanh
Thai Thi Truc Thanh
Thai Thi Truc Thanh
Thai Thi Truc Thanh
Thai Thi Truc Thanh
Thai Thi Truc Thanh
Thai Thi Truc Thanh
Thai Thi Truc Thanh
Tran Tuong Thinh
Tran Tuong Thinh
Tran Tuong Thinh
Tran Tuong Thinh
Q & A
Thai Thi Truc Thanh
Thai Thi Truc Thanh
Full transcript