THUONGMAI UNIVERSITY

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GROUP PROJECT

MARKETING AND STRATEGY

Topic
Identify target market segments and
Craft brand positioning strategy for Slim&Sweet

Group: 3
Supervisor: MsC. Dang Phuong Linh
Class: 25101MMGT1117E

Ha Noi, 2024

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 THUONGMAI UNIVERSITY

=====–&—=====

GROUP PROJECT
MARKETING AND STRATEGY

Supervisor: MsC. Dang Phuong Linh

Class: 25101MMGT1117E
Group: 3

No. Full name Student’s ID

1 Tạ Minh Anh 22K610010
2 Phạm Hoàng Duy 22K610031
3 Trương Thị Mỹ Linh 21K610115
4 Nguyễn Thị Ngọc Mai 21K610130
5 Trần Tuấn Minh 22K610061
6 Trần Hoàng Nam 22K610064
7 Phạm Thanh Ngân ( leader) 22K610066
8 Trần Bảo Ngọc 22K610069
9 Nguyễn Xuân Phong 22K610074

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 TABLE OF CONTENTS

1. Introduction: .............................................................................................................................. 5
1.1. Company Overview ............................................................................................................ 5
1.2. Product Information: ......................................................................................................... 6
2. Identify your target market segments. .................................................................................... 7
2.1. Target market segment characteristics ............................................................................ 7
2.1.1. Demographic Characteristics......................................................................................... 7
2.1.2. Geographic Characteristics ............................................................................................ 7
2.1.3. Psychographic Characteristics ....................................................................................... 7
2.1.4. Behavioral Characteristics ............................................................................................. 8
2.1.5. Needs and Preferences ................................................................................................... 8
2.2 Bases for target market segments ...................................................................................... 8
2.2.1. Geographic Segmentation ............................................................................................. 8
2.2.2. Demographic Segmentation .......................................................................................... 8
2.2.3. Psychographic Segmentation......................................................................................... 9
2.2.4. Behavioral Segmentation............................................................................................... 9
2.3. Criteria for target market segments ............................................................................... 10
2.3.1 Measurability: ............................................................................................................... 10
2.3.2 Accessibility: ................................................................................................................ 10
2.3.3 Differentiable:............................................................................................................... 11
2.3.4 Actionability: ................................................................................................................ 11
2.3.5 Sustainability: ............................................................................................................... 11
2.4. Evaluating and selecting the market segments .............................................................. 11
2.4.1. Identifying the market segment ................................................................................... 11
2.4.2. Market segmentation analysis ..................................................................................... 12
[Link]. Psychographic Characteristics: ........................................................................... 12
[Link]. Behavioral Characteristics: ................................................................................. 12
2.4.3. Product Development and Differentiation................................................................... 13
2.4.4. Competitive Analysis .................................................................................................. 13
2.4.5. Challenges and Risk Management .............................................................................. 13
3. Craft your brand positioning strategy................................................................................... 14
3.1. Developing a brand positioning ....................................................................................... 14
3.1.1. Market Size .................................................................................................................. 14
3.1.2. Purchase and Consumption Frequency ....................................................................... 14

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 3.1.3. Market Research .......................................................................................................... 15
[Link]. Market Research Objectives ................................................................................. 15
[Link]. Market Research Methods .................................................................................... 15
[Link]. Analysis and Processing of Results ...................................................................... 16
[Link]. Conclusion and Market Strategy .......................................................................... 17
[Link]. Some relevant references ...................................................................................... 17
3.2 Choosing a competitive frame of reference ..................................................................... 22
3.2.1. Identifying Competitors............................................................................................... 22
3.2.2. Analyzing Competitors ................................................................................................ 22
[Link]. Customers, needs, purchasing power ................................................................... 22
[Link]. 4P: Product, Price, Place, Promotion.................................................................. 22
[Link]. Distribution channels: ......................................................................................... 23
[Link]. Positioning competitors ........................................................................................ 24
3.3. Identifying Potential Points-of-difference (POD) and Points-of-Parity (POP)........... 25
3.3.1. Points-of-Difference (POD) ........................................................................................ 25
3.3.2. Points-of-Parity (POP)................................................................................................. 26
3.4. Choosing specific POPs and PODs ................................................................................. 27
3.4.1 About map (a) Hypothetical Beverage Perceptual Map: .............................................. 27
3.4.2 About map (b) Hypothetical Beverage Perceptual Map:.............................................. 28
3.5. Brand Mantras.................................................................................................................. 29
Reference ...................................................................................................................................... 31

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1. Introduction:
1.1. Company Overview

Company Name: Slim&Sweet

Core Product: Black Bean and Almond Butter Brownies

Sales Method: Combination of online and offline sales

• Online: Slim&Sweet utilizes social media platforms such as Facebook and Instagram and
food delivery apps like GrabFood and Shopee Food to reach young, busy customers in
urban areas of Hanoi.
• Offline: At the store located at 79 Ho Tung Mau street, customers can visit directly to
purchase and experience other products from the brand.

Offline Store Address: 79 Ho Tung Mau streets , Hanoi

In-house Production: The brownies are produced internally to ensure quality and control over
the sourcing of ingredients.

Mission: "To create healthy and delicious snacks that help customers maintain a healthy
lifestyle without sacrificing taste satisfaction."

Slim&Sweet’s mission is to provide brownies that are not only delicious but also good for health.
We focus on combining natural and nutritious ingredients to help customers enjoy their favorite
treats while maintaining a healthy diet.

Vision: "To become the leading brand in the healthy food sector in the local area and Hanoi,
standing out with the perfect combination of taste and nutrition."

Slim&Sweet aims to become a symbol in the healthy food industry, not just in the local area but
across all of Hanoi. We aspire to expand our product range and services, offering innovative and
creative food choices, and contributing to the growth of the healthy food market.

Core Values

1. Health: We are committed to using natural ingredients without chemicals or preservatives,

ensuring that each product provides the best health benefits for our customers.
2. Flavor: Although we focus on health, we never compromise on taste. Each product is
crafted to achieve a perfect balance between nutrition and taste satisfaction.
3. Quality: From the production process to raw materials, we rigorously control quality to
ensure that every brownie meets the highest standards.
4. Innovation: We continuously research and develop new recipes and improvements to offer
fresh and exciting products to our customers.
5. Customer Satisfaction: We prioritize customer satisfaction, listen to feedback, and
continuously improve our services and products.

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Slogan: "Healthy Bites, Sweet Life"

This slogan highlights the two core elements of Slim&Sweet: health and enjoyment. The brownies
are not only tasty but also beneficial for health, allowing customers to enjoy sweet flavors without
worrying about negative factors like weight gain or poor nutrition.

1.2. Product Information:

BLACK BEAN AND ALMOND BUTTER BROWNIES
Brownie Size: 8x8x5 cm
Weight: Each brownie weighs approximately 60 grams, suitable for a healthy snack.
Calories: 200 calo/60 gram
Expiration date: 1 week
Pricing:
• Retail Price: 55,000 VND/piece
• Set of 5: 259,000 VND, offering savings for customers purchasing in larger quantities.

Description, Ingredients, and Benefits:

• Brownies: Made from cooked and pureed black beans instead of flour, combined with pure
cocoa powder to create a deep chocolate color and flavor.
• Black Beans: As the main ingredient, black beans are rich in protein, fiber, and
antioxidants. They provide a moist texture and mild flavor that perfectly complements the
bitterness of cocoa.
• Almond Butter: Instead of using traditional butter, almond butter adds richness and
softness to the brownies while also being a source of protein and healthy fats. Almond
butter can be mixed into the batter or spread on top before baking to create a delicious
coating. It also imparts a slightly nutty flavor that pairs beautifully with the cocoa.
• Cocoa Powder: High-quality cocoa powder is used to deliver a deep chocolate flavor
without the need for excessive sugar.
• Natural Sweeteners: Natural sweeteners such as honey, maple syrup, or coconut sugar are
used to minimize refined sugar content while maintaining a sweet taste.
• Additional Flavors: A touch of natural vanilla or sea salt can be added to enhance the
richness of the brownies. For added texture, you can sprinkle chopped almonds or walnuts
on top before baking.

Nutritional Value:

• Rich in Protein and Fiber: Black beans and almond butter are excellent sources of plant-
based protein and fiber, helping you stay full longer and providing sustained energy.
• Gluten-Free: Using black beans instead of flour makes these brownies completely gluten-
free, suitable for those on a gluten-free diet.
• Low Sugar and Nutrient-Dense: Natural sweeteners keep the sugar content low, ensuring
that this treat remains within the "eat clean" framework.
• Vegan-Friendly: Black bean and almond butter brownies are entirely plant-based, making
them suitable for vegetarians and vegans.

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Flavor and Texture:

• Rich and Soft: The combination of black beans and almond butter creates a dense, soft
texture that is incredibly appealing.
• Moderately Sweet: Natural sweeteners provide just the right amount of sweetness without
overpowering, allowing the chocolate flavor to shine.

Feasibility:

• Common Ingredients: Black beans, almond butter, and other natural ingredients are easily
found in supermarkets or health food stores, making the baking process straightforward.
• Wide Market Appeal: Brownies are a popular dessert, and this "eat clean" version with
black beans and almond butter will attract those looking for a healthier snack option.

Serving Suggestions:

• Enjoy them as a dessert or snack without worrying about health.

• They also make a great addition to lunch boxes or a post-workout snack.

2. Identify target market segments.

2.1. Target market segment characteristics

2.1.1. Demographic Characteristics

Age: Primarily adults aged 18-35 who are health-conscious.

Income: Middle to high income, as they may be willing to pay for premium healthy products.
Education: Likely college-educated or above, aware of the importance of nutrition.
Gender: Both men and women, though potentially skewed toward women who often prioritize
healthier food choices.
Family Status: Individuals or families that prefer healthier snacks.

2.1.2. Geographic Characteristics

Urban/Suburban Areas: These areas often have higher demand for healthy, trendy food products.
Regions Focused on Wellness: Regions where there’s a strong focus on fitness, wellness, and
organic foods, such as metropolitan cities or areas with access to health food stores.

2.1.3. Psychographic Characteristics

Lifestyle: Active and health-conscious lifestyles, such as people who exercise regularly or are
interested in fitness.
Values: Sustainability, clean eating, and ingredients transparency.
Dietary Preferences: Interest in plant-based, vegan, or gluten-free products, as well as consumers
who follow low-sugar, low-carb diets.

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2.1.4. Behavioral Characteristics

Purchase Behavior: Health-conscious consumers who are willing to pay a premium for nutritious,
clean-label, and innovative products.
Product Usage: Looking for healthier dessert options, snack replacements, or post-workout treats.
Loyalty: People who are committed to specific dietary choices and are often loyal to brands that
offer consistent quality and health benefits.

2.1.5. Needs and Preferences

Health Benefits: Consumers who seek snacks that provide protein, are low in sugar, or made from
natural ingredients.
Convenience: People who prefer ready-to-eat, portable snacks.
Diet Compatibility: Those looking for alternatives to traditional sweets but with added health
benefits.

2.2 Bases for target market segments

2.2.1. Geographic Segmentation

Scope within Hanoi:

Central Area: Districts such as Hoan Kiem, Ba Dinh, Dong Da, and Hai Ba Trung. These areas
have a high concentration of young people and residents with high incomes who tend to consume
premium, healthy products.
New Development Areas: Districts such as Cau Giay, Thanh Xuan, and Nam Tu Liem – where
many young people live and work. These areas have an increasing demand for convenient yet
healthy products that cater to a busy lifestyle.

2.2.2. Demographic Segmentation

Age: Targeting individuals aged 18-35, especially:

• 18-25 years (Students, young professionals): This group tends to follow new health and
wellness trends and is willing to try new products.
• 26-35 years (Established professionals): This group is more concerned with long-term
health, seeking balanced dietary solutions that combine nutrition with convenience,
suitable for busy work schedules.

Gender: Both men and women: However, women aged 25-35 are more likely to focus on healthy
eating and health care for themselves and their families.

Income: Income above 6 million VND per month – this group has the capacity to spend on higher-
end food products, particularly those that are healthy.

Occupation: Office workers, students, freelancers, and those with busy lifestyles who still
prioritize health and nutrition.

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Generation: Generation Z and Millennials (born between 1980-2005) – These age groups are
more influenced by modern consumption trends and the development of health-friendly products.

2.2.3. Psychographic Segmentation

Lifestyle:

Active and Health-Conscious Lifestyle: Targeting individuals who lead an active lifestyle and
are concerned about health, fitness, and nutrition. They often engage in activities such as gym
workouts, running, and yoga, and tend to choose products that support a healthy lifestyle.

Busy Lifestyle but Health-Focused: Many customers in this group are office workers or have
stable jobs with above-average incomes (above 6 million VND per month). They often lack time
to prepare healthy meals daily, so products like brownies are a convenient choice that provides
energy while maintaining healthiness. They may purchase brownies as a snack to meet the need
for quick eating without causing weight gain.

Values:

Emphasis on Health and Balanced Living: They prioritize choosing products with natural
origins, free from preservatives or refined sugars.

Sustainability: Modern consumers, particularly in Hanoi, are increasingly attentive to sustainable

consumption, opting for environmentally friendly products with recyclable or biodegradable
packaging.

Health-Oriented Personality and Self-Care Awareness: Consumers in this group typically have
a long-term mindset, valuing body care and health. They understand that health comes not only
from exercise but also from maintaining a healthy diet with natural and low-sugar foods. They are
willing to spend more on products that provide clear nutritional benefits.

Nutritional Awareness: These individuals are knowledgeable about nutrition and often check
product ingredients before purchase. Your product has an advantage because it is made from
healthy ingredients like black beans and almond butter, and does not contain refined sugar, fitting
diets like keto or low-carb. A price of 55,000 VND for a brownie would be reasonable to them if
they see clear nutritional value, rather than just a snack.

2.2.4. Behavioral Segmentation

Product Knowledge: Knowledgeable about Nutrition and Healthy Foods: Consumers in this
group typically have a good understanding of diets and healthy eating trends. They are familiar
with foods like black beans (rich in protein and fiber) and almond butter (rich in healthy fats), so
they can easily recognize the value of your product. A price of 55,000 VND for a brownie would
be considered reasonable if the product meets these criteria.

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Attitude Towards the Product:

Willing to Spend More on Health: With stable incomes and a focus on self-care, this group is
ready to spend more on healthy products. A price of 55,000 VND is higher than traditional cakes,
but these consumers are willing to pay a premium for quality, health benefits, and convenience.

Seeking Premium and High-Quality Products: They tend to look for premium products made
from good ingredients with healthy formulas. If your product meets this criterion, they will accept
a higher price because they trust in the quality and benefits of the product.

Product Usage:

Seeking Healthy Snack Solutions: This customer group wants not only tasty food but also healthy
eating options. They often use products like black bean brownies as a snack between meals, before
or after exercise, or during work. A brownie can provide enough energy without the guilt
associated with conventional sweets.

Frequent Shopping Habits: This group can become loyal customers if the product meets their
health and taste needs well. They might purchase the product regularly, such as weekly, or even
subscribe for regular delivery if available.

Response to the Product:

Positive Feedback and Willingness to Share: If the product not only meets nutritional needs but
also tastes good, customers will be willing to share their experiences on social media, helping to
spread the brand. With a price of 55,000 VND, they expect the product to be not only tasty but
also visually appealing with careful packaging and design.

Promotions and Discounts: Although willing to spend, this customer group also appreciates
receiving deals. To encourage more frequent purchases, the business has created product sets at a
reasonable and lower price.

2.3. Criteria for target market segments

2.3.1 Measurability:

The target market segment (individuals interested in health, busy, and seeking healthy food) is
clearly measurable. Criteria such as lifestyle, dietary preferences (keto, gluten-free, vegan), or
shopping habits can be easily identified and gathered through market data and customer surveys.
Additionally, trends related to health and consumer behavior can be assessed through market
research on the consumption of healthy products.

2.3.2 Accessibility:

This customer segment can be easily reached through various channels. Social media, gyms,
nutrition workshops, and health food stores are ideal locations for engaging the target audience.

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Online advertising campaigns can target based on consumer interests and behaviors, enabling
Slim&Sweet to effectively connect with this segment.

2.3.3 Differentiable:

Slim&Sweet's customer group has distinct characteristics that set them apart from other segments.
Notably, this segment has clear, unique needs regarding diet and a healthy lifestyle. They seek
products with high nutritional value, low sugar, low fat, and convenience for their busy lives. This
allows Slim&Sweet to differentiate its products and marketing strategies, such as promoting the
uniqueness of brownies made with black beans and almond butter.

2.3.4 Actionability:

This segment is ready to take immediate action. Slim&Sweet can directly engage and serve them
through targeted advertising campaigns. Customers in this segment are willing to pay a premium
for nutritionally beneficial products that align with their lifestyle, allowing your business to
effectively meet this demand.

2.3.5 Sustainability:

This customer segment is highly sustainable, as the trend towards healthy living and scientific
eating is on the rise globally. More consumers are becoming health-conscious and are willing to
invest in high-quality products that cater to their personalized nutritional needs. However,
Slim&Sweet must carefully monitor and adapt its products to emerging trends in health and
nutrition to ensure long-term sustainability.

In summary, the segment chosen by Slim&Sweet fulfills all criteria for an effective targeting
strategy, offering clear measurability, easy accessibility, high differentiation, actionable potential,
and prospects for sustainable growth. Nonetheless, maintaining flexibility in product offerings and
marketing strategies is essential to keep pace with market changes.

2.4. Evaluating and selecting the market segments

The marketing strategy chosen for the brand is Single-segment concentration. When a brownie
business focuses on the customer segment that want sweets but not fat, want healthy food, busy
people want a quick meal

2.4.1. Identifying the market segment

The target customers are health-conscious individuals who are also short on time. They likely
belong to several overlapping groups, including:

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 • Busy Professionals: People working long hours who seek convenient, healthy snacks.
• Fitness Enthusiasts: Those who are conscious of their macronutrient intake (protein, fats,
and carbs) and want low-sugar snacks with balanced nutrition.
• Diet-conscious Consumers: Individuals following specific diets (e.g., keto, vegan, gluten-
free) looking for healthy alternatives to traditional desserts.
• Young Adults & Parents: Those juggling family responsibilities who need quick but
nutritious snacks for themselves and their kids.

These consumers are typically drawn to products that not only satisfy hunger but also provide
health benefits like energy without the "crash" of sugar-laden snacks. They are willing to pay more
for products that align with their dietary preferences and busy lifestyles.

2.4.2. Market segmentation analysis

[Link]. Psychographic Characteristics:

Psychographics delve deeper into the attitudes, values, and lifestyles of your target customers:

Health-Consciousness and Wellness-Oriented: Your customers prioritize their health and

wellness in daily life. They often follow fitness trends, and some may adhere to specific diets (e.g.,
vegan, paleo, keto, low-carb). They are proactive about maintaining their physical well-being and
are willing to pay a premium for products that align with their health goals.

Busy and Convenience-Seeking: These consumers often have fast-paced lifestyles and seek quick
solutions that don’t compromise on health. They value products that can be easily integrated into
their day, whether at the gym, at work, or between meetings.

Self-Care and Mindfulness: These consumers often associate health-conscious eating with self-
care. They see their food choices as part of a larger holistic approach to life—one that involves
mindfulness, mental well-being, and physical health. By positioning your product as a guilt-free
indulgence, you tap into their desire to treat themselves while still adhering to their health-
conscious lifestyle.

[Link]. Behavioral Characteristics:

Dietary Habits and Trends: The target customers are likely to follow specific eating habits such
as low-sugar, high-protein, gluten-free, or plant-based diets. They will actively seek out snacks
that fit into their dietary needs and reject options that contain processed sugars or artificial
ingredients.

Explorers and Early Adopters: These individuals are often early adopters of new health trends.
They are open to trying new products if those products promise unique health benefits or align
with their dietary preferences. Your product, with its innovative use of black beans and almond
butter, could be particularly appealing to trendsetters in the health food market.

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Brand Loyalty and Emotional Connection: Health-conscious consumers often form strong
brand loyalty once they find a product that meets their needs. They seek emotional connections
with brands that align with their values and lifestyle, such as sustainability, wellness, and
mindfulness.

2.4.3. Product Development and Differentiation

Nutritional Innovation: A product centered around black beans and almond butter is naturally
high in fiber and protein, providing slow-releasing energy. This differentiates the brownies from
conventional desserts that are high in refined sugars and processed ingredients. Offer low-carb,
low-glycemic index options, catering to consumers on weight-management programs. Ensure the
brownies meet the requirements of popular diet trends (gluten-free, vegan, etc.), expanding appeal
within your niche.

Portion Control: By offering pre-portioned brownies or smaller bite-sized servings, you cater to
individuals who are mindful of portion sizes, making it easier for them to integrate your product
into their daily routines without guilt.

2.4.4. Competitive Analysis

Focusing on a single segment allows you to tailor your product, brand, and marketing efforts to
become a leading choice within that space.

Few Direct Competitors: The combination of black beans, almond butter, and a focus on healthy,
sweet snacks limits your direct competition. While other companies might offer healthy snacks or
brownies, few will provide this specific combination of benefits tailored to your audience's needs.

Customer Loyalty: By offering something truly unique, you build brand loyalty. Niche markets
often have dedicated followings if they feel that the product aligns closely with their personal
values and needs.

2.4.5. Challenges and Risk Management

Narrow Market Focus: One of the risks of the Single-segment concentration strategy is the
narrow scope of the market. You must ensure that this segment is large enough to sustain growth.
While the health and wellness market is expanding, keep an eye on emerging trends and ensure
your product evolves with consumer needs.

Dependency on Trends: Health-conscious markets are often subject to trend shifts (e.g., gluten-
free, keto, plant-based diets). Your ability to adapt to these evolving trends without diluting the
core offering will be crucial.

Limited Product Diversification: Focusing on one segment could limit diversification into other
markets, potentially making the business vulnerable to changes in consumer preferences. A
gradual expansion of product lines within the same niche (e.g., high-protein, low-sugar snacks)
can mitigate this risk while staying true to your original brand ethos.

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3. Craft your brand positioning strategy
3.1. Developing a brand positioning

3.1.1. Market Size

Healthy Snack Market: Hanoi, especially the inner-city areas, is witnessing a growing demand
for healthy food. Today's youth are increasingly concerned about health and nutrition, influenced
by trends such as "eat clean" and "plant-based diets."

Hanoi's Youth: With a large population and the rise of convenience services like home delivery,
young people aged 18-35 in Hanoi are particularly drawn to convenient yet healthy products. This
market consists of students, office workers, and young individuals with stable incomes who are
always on the lookout for health-conscious products that retain convenience and appealing taste.

Potential Market: Black bean and almond butter brownies not only provide a healthy option but
also align with the preferences of consumers seeking gluten-free, low-sugar, and nutrient-dense
products. As a result, this product can capture a niche but rapidly growing segment in Hanoi's
healthy snack and light food market. The growth rate of the healthy snack market in Vietnam is
expected to rise by approximately 7-10% annually, especially focusing on organic, low-calorie,
and health-enhancing products.

3.1.2. Purchase and Consumption Frequency

Young people in Hanoi, particularly students and office workers, tend to snack during work or
study hours. Black bean and almond butter brownies, with their high nutritional content, rich in
protein and fiber, become an ideal choice for a midday snack or post-workout treat. Since this is a
healthy snack, customers may return to purchase the product every 1-2 weeks. The purchase
frequency can vary depending on customer needs and the nature of the product.

Several factors affect the purchase frequency, including:

1. Consumption habits: Customers tend to repurchase regularly if they enjoy the product
and consider it part of their daily healthy diet.
2. Product characteristics: Since Slim&Sweet brownies are nutritious and health-beneficial,
customers may view them as a healthier alternative to traditional snacks, increasing the
likelihood of regular purchases.
3. Promotional programs: Discounts for purchasing sets or time-limited offers can
encourage customers to return more quickly.

Market research in Hanoi shows that young customers, particularly office workers and students,
tend to order healthy snacks weekly or whenever they need an energy boost. Here are some typical
customer types for Slim&Sweet’s brownies:

1. Product enthusiasts: Customers who truly love and are satisfied with the product may
return to purchase 1-2 times a week, especially if they use the brownies as a regular snack
or healthy meal replacement.

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 2. Set buyers: For those who buy a set of 5 brownies, they may consume them over 1-2
weeks, depending on their snacking habits. They may return to buy every 2-4 weeks.
3. Busy customers: Those with busy lifestyles may return to purchase 1-2 times a month
when they need a quick, healthy energy boost.
4. Trial customers: Customers who try the product for the first time may return after 4-6
weeks if they find the product suitable for their nutritional needs and taste.

To optimize purchase frequency, Slim&Sweet can consider launching promotions like regular
discounts, membership cards, or incentives for customers who return within a short time. Engaging
with customers through loyalty programs and frequent promotions can encourage repeat
purchases, ensuring that customers feel valued and have reasons to return.

3.1.3. Market Research

[Link]. Market Research Objectives

Understanding customer needs: Capture the preferences, consumption habits, and expectations
of young people in Hanoi towards healthy snacks, especially brownies made with black beans and
almond butter. Survey factors may include taste, portion size, packaging, and acceptable pricing.

Assessing competition: Identify brands currently offering similar products and evaluate their
successes and failures to find a unique selling point for positioning. In Hanoi, there are several
stores and brands offering healthy snacks and sweets, such as cafes focusing on organic and "eat
clean" foods. However, focusing on a unique product like black bean and almond butter brownies
will help the product stand out among common offerings.

Evaluating market penetration potential: Assess the consumption potential among young urban
customers and gauge the market’s acceptance of pricing, flavors, packaging, and convenience.

Product pricing: One of the key factors is the pricing strategy. For the target demographic of
young people in Hanoi, the price needs to be reasonable while still reflecting the value of high-
quality ingredients and product uniqueness.

[Link]. Market Research Methods

a. Online Survey

Purpose: Gather feedback from a large number of young people aged 18-35, including students,
office workers, and those inclined to consume healthy foods.

Method: Utilize platforms like Google Forms, Typeform, or direct surveys on Facebook and
InstagramInterest in healthy food, especially snacks.

• Criteria for choosing snacks (taste, nutrition, price, convenience, packaging).

• Preferences in flavors and eating habits during work or study.
• Willingness to pay for products with premium ingredients (black beans, almond butter).

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Expected Outcome: Collect data on eating habits, preferences, and customers' willingness to pay.
This data will help better understand the target market and adjust the product strategy accordingly.

b. Focus Group

Purpose: Gain deeper feedback on customer perceptions of the new product.

Method: Organize a group of around 50 individuals from the target audience (young people aged
18-35 in Hanoi). Discussion topics may include:

• Awareness of healthy food and snacks.

• Perceptions of the product when tested (if samples are available).
• Evaluation of factors like taste, packaging, portion size, and pricing.

Expected Outcome: Gather direct, in-depth feedback from potential customers, helping to better
understand how the product fits their needs and preferences.

c. Competitor Analysis

Purpose: Gain a clearer understanding of the current competition in the market.

Method:

• Examine similar products on the market, such as healthy sweets, protein snacks, or diet-
friendly brownies. Research products from local brands and popular homemade bakeries
on Instagram.
• Analyze their marketing strategies, pricing, and customer approach.

Expected Outcome: Identify competitors’ strengths and weaknesses to discover ways to

differentiate Slim&Sweet’s product in the market.

[Link]. Analysis and Processing of Results

Market segmentation: Based on survey data, analyze which customer segments have the highest
demand for the product. For instance, students might prioritize affordable prices, while office
workers may value nutrition and convenience.

Product feasibility: From focus group feedback and surveys, assess whether the product meets
expectations regarding taste, price, and packaging. If necessary, adjust the product formula or
pricing strategy to better align with the market.

Competitor analysis: Use competitor analysis to create product differentiation, such as

emphasizing natural ingredients, health messaging, or building a sustainable brand.

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Revenue and purchase frequency forecasts: Based on customer interest and feedback, predict
purchase frequency, helping to develop suitable production and distribution plans.

[Link]. Conclusion and Market Strategy

After completing market research, the company can consolidate the data to make strategic
decisions on:

Brand positioning: Identify product strengths compared to competitors and build a clear,
compelling brand story.

Pricing strategy: Set reasonable prices based on potential customer feedback and the nutritional
value of the product.

Distribution and marketing channels: Focus on promoting through social media, leveraging
influencers, and using fast delivery platforms like GrabFood and Shopee Food to reach young
urban customers in Hanoi.

Comprehensive market research will help you better understand the needs and consumption
behavior of young people in Hanoi, allowing you to adjust your product to be more suitable and
attractive to customers.

[Link]. Some relevant references

This is some information from a survey article “Market survey fast food at the big city” [1] by
vinaresearch

The chart shows the level of snack food consumption in Hanoi

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Level of snack food consumption by age group

The chart shows the level of snack food consumption by age group

In general, the 24 - 29 year old group has a fairly high level of snack food consumption, mainly 1
-2 times/week. Meanwhile, the age group 16 - 23 years old has an even spread from 1-2 times/week
to 2-3 times/month. On the contrary, the age group 30 and older has a somewhat lower level of
snack food consumption, focusing mainly on 2-3 times/month.

Usual time

Eating snacks in the evening after 6 pm is a habit of more than half of the subjects studied. Hanoi
people generally tend to eat fast food at different flexible hours.

Chart showing Usual time for fast food in Hanoi

18
For the age groups surveyed, most often eat fast food in the evening or afternoon (4-6 p.m). In
addition, the age group 24-29 years old often uses it at noon.

The chart shows Usual time for fast food for the age groups

Factor of interest
Price

The chart shows the level of concern about factors related to the price of snacks in Hanoi

Place

The chart shows the level of concern about factors related to the place of snacks in Hanoi

19
Promotion

The chart shows the level of concern about factors related to the promotion of snacks in Hanoi

In addition, according to the Report "Unlocking the fast food industry" [2] provides an overall
perspective on users' opinions and shopping behavior regarding this culinary group because Coc
Coc has researched the database with 29 million users on browsers and search engines, and
conducted a survey on 973 respondents using an online survey on the platform (October 12, 2023)

The Fast Food market in Vietnam has a very large consumption volume when up to 45% of
respondents said they consume fast food daily or weekly. Ages 18-21 have the highest
consumption tendency, especially for men. This number is recorded high in urban areas of large
cities.

Criteria for choosing dishes also recognize differences between generations and genders: When
young people under 18 years old choose delicious dishes, adults prioritize speed and convenience.
Quickness, ease, and convenience in enjoying are the most important factors for customers,
surpassing taste requirements, followed by price/promotion factors. According to survey results,
50,000 - 100,000 VND is the most common spending level for a portion of fast food.

20
Below are some of the results we recorded when asking “What is the most important factor
determining your choice of fast food brand?”

• 65.3% of consumers choose product-related factors (such as flavor, packaging, origin...) as

the top criteria to consider when choosing fast food.
• 45.6% think price is the next important factor. Of these, more than 64% of respondents
said that appropriate selling prices are more important than promotions.
• 20.7% of respondents will choose the brand based on the distribution store location.
Convenient location for travel is the most important factor affecting purchasing decisions,
followed by the factor "Beautiful, clean, airy space".
• 15.9% of respondents admitted they would be influenced by the media through attractive
advertisements or brands appearing in interesting events and festivals.

The Fast Food industry also recognized consumers' openness to new product lines when more than
60% of survey participants said they would be willing to buy and try it if they felt it was suitable.

21
In particular, the young consumer group aged 20 - 24 years old said they are looking forward to
improvements in product flavor in many different ways.

3.2 Choosing a competitive frame of reference

3.2.1. Identifying Competitors

Based on the product and the criteria regarding the value, benefits, product features, and equivalent
pricing, the direct competitors of the black bean and almond butter brownies include:
• Avo Baking: Specializes in fresh, healthy cakes. Avo Baking with whole grain Brownies
products. (85.000 VND)
• Fridum: is known for its sugar-free and keto-friendly cakes, which are suitable for people
on strict diets. Fridum with Gluten-free Cocoa Nuts Brownies product. (65.000 VND)
• Gali Tiramisu- Tiệm bánh healthy: Gali Tiramisu mainly focuses on healthy sweet
cakes. Gali Tiramisu - A healthy bakery with Small Tiramisu product. (75.000 VND)

3.2.2. Analyzing Competitors

[Link]. Customers, needs, purchasing power

Competitor Target customer Demand Affordability

Avo Baking Health-conscious Products high in Middle-income, willing to

consumers, pursuing a diet fiber and low in pay for premium products
or a low-calorie regimen calories

Fridum Consumers who are gluten Gluten-free Middle class, willing to

intolerant prioritize healthy, brownies, suitable pay extra for health
additive-free foods. for those sensitive benefits.
to gluten.

Gali Consumers are interested in Pastries that are It is targeting the mid-
Tiramisu healthy pastries that still adjusted to reduce range market aimed at
retain the delicious sugar and calories. customers with a healthy
traditional flavors. lifestyle.

[Link]. 4P: Product, Price, Place, Promotion

Factor Avo Baking Fridum Gali Tiramisu

Product Whole grain brownies, Gluten-free brownies, Compact, convenient

simple packaging, convenient, clean tiramisu with eco-friendly
emphasizing health packaging packaging.

22
 Price 85.000 VND 65.000 VND 75.000 VND

Place Distribution is mainly Distribution through Mainly through online

through online channels, the website, events platforms (Instagram,
social media, and physical related to health. TikTok, FB) and physical
stores. stores.

Promotion Advertising through social Promotions and Promoting through social

media, giving away discounts during media, combined with
samples special occasions influencer marketing.

[Link]. Distribution channels:

Competitor Direct Indirect Distribution Pricing Analysis of

distribution distribution through framework Promotion
channel channel intermediaries
and mass
channels

Avo Baking Official Not Primarily Higher prices They are

website, distributed online, not due to the use using social
social media through large through of whole media and
(Facebook, retailers intermediaries ingredients, promoting
Instagram), positioning as through
and in-store a premium influencers,
product running
promotional
programs
during
holidays and
festivals.

Fridum Own Stores Distribution Mid-range Promotions

website, selling through health price, suitable through the
direct sales at healthy food stores. for those who website,
events products, are gluten discounts at
retail intolerant, health
partners health-safe. events,
combined
with PR
campaigns.

Gali Selling There are no Mainly through A slightly Leverage

Tiramisu through major small channels, lower price, social media
Instagram, indirect not mass targeting the (Instagram)
distribution healthy and offer free

23
 Facebook, distribution segment and products to
and in-store channels consumers customers.
who want to
enjoy pastries
but in a
healthier way.

[Link]. Positioning competitors

Avo Baking: Positioning the product as a healthy option for consumers who want to reduce
calories but still enjoy sweet treats.
Fridum: Positioned as a safe gluten-free product supporting gut health while maintaining
delicious flavor.
Gali Tiramisu: Positioned as a healthy bakery, offering traditional flavors but improved with
healthier recipes.

a. Avo Baking - Healthy & Low Carb

• Strengths:
o Health-conscious Products: Avo Baking focuses on healthy products that align with
current consumer trends. The brand’s products are committed to being "low carb, sugar-
free," making them suitable for those following a keto diet.
o Brand Associated with a Healthy Lifestyle: With the name "Healthy & Lowcarb" Avo
has clearly positioned itself as a brand associated with safety and health.
o Brand Recognition: It has a stable customer base across social media platforms.
• Weaknesses:.
o No Dedicated Website: The lack of a dedicated website makes it difficult for customers
to find comprehensive information about the brand and its products.
o Limited Product Information: On existing platforms, detailed information about
ingredients and production processes is not fully provided. This may cause customers to
hesitate when deciding to purchase.

b. Fridum
• Strengths:
o Product Quality: Fridum cakes may stand out in terms of quality by using natural
ingredients, without preservatives, or containing health-safe components.
o Approachable Brand: The name Fridum may evoke a sense of freedom and comfort,
aligning with modern trends and creating a positive feeling for consumers.
o Product Variety: If Fridum offers a wide range of products such as cakes, cookies, or
nutritious baked goods, the brand could appeal to a broader customer base

• Weaknesses:
o Brand Recognition: There is not yet strong recognition in the market, and it will require
time and a good marketing strategy to build consumer trust.
o Pricing: The high production costs due to the use of natural ingredients may result in
Fridum's products being priced higher than competitors.

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c. Gali Tiramisu
• Strengths:
o Clear Market Niche: Gali Tiramisu focuses on healthy tiramisu cakes, a product that
appeals to those who love sweets but still want to maintain their figure.
o Attractive Brand Image: Through TikTok videos and images on ShopeeFood, it's evident
that Gali Tiramisu puts great emphasis on creating visually appealing and attractive product
presentations.
o Good Customer Interaction: The quick and enthusiastic responses to comments on
TikTok show that Gali Tiramisu cares about interacting with customers and addressing
their questions.
o Diverse Distribution Channels: By being available on ShopeeFood, Gali Tiramisu has
expanded its distribution channels, reaching a wider customer base.

• Weaknesses:
o Limited Product Information: On existing platforms, detailed information about
ingredients, production processes, and pricing of the cakes has not been fully provided.
This may cause customers to hesitate when deciding to make a purchase.
o No Dedicated Website: The lack of a dedicated website makes it difficult for customers
to find comprehensive information about the brand and its products.

3.3. Identifying Potential Points-of-difference (POD) and Points-of-Parity (POP)

In creating a brand positioning map and selecting the strategy for Black Bean and Almond Butter
Brownies (Healthy), it becomes exigent to identify PODs and POPs. These elements will assist the
company in carving a niche in the market and at the same time guarantee that it provides a product
that will meet the basic demands of the target consumers. The following is a breakdown of the
ways in which our product is unique and how our product compares to similar products in the
market along with supporting examples.

3.3.1. Points-of-Difference (POD)

Taste and Indulgence:

Instead of solely focusing on nutritional aspects, this product stands out by perfectly combining
delicious taste with health benefits. With the black bean and almond butter brownies, customers
experience not only a rich, naturally sweet flavor but also a smooth, enjoyable texture akin to
traditional sweet treats. The refined blend of the light creaminess from almond butter and the gentle
sweetness of black beans offers a complete sensory experience, ensuring that consumers no longer
feel they have to sacrifice taste for health.

What sets this product apart is that while many people believe that "healthy" foods are often bland
and unappetizing, the black bean and almond butter brownies prove otherwise: they are both
delicious and nutritious. This product satisfies not only those who love sweets but also appeals to
health-conscious customers, making it an ideal choice for those who want to indulge in a dessert
without feeling guilty.

Clean Label and Transparency: Today’s consumers have become sensitive to what they eat,
where it comes from and how it was processed. Our black bean and almond butter brownies are

25
enjoyable and healthy products with no added preservatives, colors or flavors. The things which
are used in the mix are basic, easily identifiable and have not been processed. This is important for
the target group of the health-conscious consumers who seek to understand what they are
consuming.

Dietary Flexibility: This indicates that our brownies address the needs that other brownies usually
don’t pay attention to. They are vegan, gluten-free, and low sugar to ensure they’ll appeal to a
wide audience regardless of their health concerns such as lactose intolerance, gluten intolerance or
the plant-based diet enthusiasts. This flexibility will place the product in a very unique niche
market where most of the dessert products are prohibited for anyone with such requirements.

3.3.2. Points-of-Parity (POP)

Nutritional Superiority:

In the market, businesses in the healthy baked goods segment focus on offering products that are
beneficial to health, using natural ingredients rich in fiber, protein, and healthy fats, while
replacing less healthy components such as saturated fats, refined sugars, and chemical additives.
These are the basic elements that consumers in this segment expect.

Similar to its competitors, Slim&Sweet's brownie products not only meet nutritional requirements
but also help customers maintain a balanced, healthy diet. The shared nutritional advantages, such
as providing protein from nuts, fiber from beans, and limiting artificial additives, allow the
business to maintain a competitive edge in this niche market. This proves that the company not
only meets the common nutritional standards offered by all healthy baked goods brands but also
continues to satisfy customers looking for delicious yet nutritious sweet treats.

Availability:
The understanding of successful healthy snack brands in Ha Noi is capable of maintaining high
availability of their products in traditional and e-commerce channels. Some of the competitors
include NutriMart and Green Mart which retail their products through supermarkets such as
WinMart as well as online shops through the online platforms such as Shopee, Lazada. People
want to be able to locate their preferred healthier choices anywhere they go – offline or online.

Similarly, our Black Bean and Almond Butter Brownies will also go into offline stores as well as
online stores. Similar to our competitors, we make the purchase and easy access to the product
convenient so consumers can buy the product easily.

Price Competitiveness:

Currently in Ha Noi, the consumer is becoming more aware of his health and they are willing to
pay a little extra for products which have high nutritional value but at the same time, price cannot
be an issue. The Organik House target their products as healthy snacks that cost slightly more than
the traditional snacks but are affordable by the middle-class population that is health conscious.

26
Our brownies will have identical pricings with the other existing heath snacks in the market, thus,
notwithstanding the high quality ingredients used, we will remain cost competitive. The price will
be adjusted to what is charged in Ha Noi with regards to healthy foods that are healthy but at the
same time within the consumer’s capacity to pay.

Placing emphasis on the taste, availability and price competitiveness of Black Bean and Almond
Butter Brownies will ensure that we fulfill the needs and wants of the Ha Noi consumers and
position us as a competitor to other successful brands while keeping a range of unique identifiers
that will set our brand ahead of others.

3.4. Choosing specific POPs and PODs

3.4.1 About map (a) Hypothetical Beverage Perceptual Map:

Current Perceptions

Map axes
• deflate X (deflate nutritional value)
• deflate Y ( taste flavor)

Product positioning
Healthier Brownies THAN normal : This product would be positioned in the High Nutritional
Value and High Indulgence quadrant due to its nutritional superiority (black beans and almond
butter) and focus on taste.

Competitor analysis :
Traditional Brownies: Positioned in the Low Nutritional Value and High Indulgence quadrant.
These are typical brownies known for their indulgent taste but lack health benefits.
Other Healthy Snacks: Brands like protein bars or low-calorie desserts could be positioned in
the High Nutritional Value but Low Indulgence Quadrant, as they often prioritize health over taste.
Vegan and Gluten-Free Desserts: These may vary in indulgence but often fall into the Medium
Nutritional Value and Medium Indulgence quadrant.

27
Brand positioning :

3.4.2 About map (b) Hypothetical Beverage Perceptual Map:

Possible Repositioning for Brand

Almond Brownies Traditional Brownies

Healthiness High - marketed as a healthier Low - typically high in sugar, fat,

option with better ingredients and calories

Taste High - designed to taste indulgent, High - designed to taste indulgent,

similar to traditional brownies similar to traditional brownies

Availability Widely available in health shops, Generally available in most

supermarkets, and online grocery stores and bakeries

Price Priced competitively with other typically lower priced, but can
Competitiveness healthy desserts vary based on brand

28
Brand positioning :

About map (b):

Hypothetical Beverage Perceptual Map: Possible Repositioning for Brand A
Taste and Indulgence: Rich, naturally sweet, smooth, enjoyable, delicious and nutritious, breaks
healthy food stereotypes.
Clean Label: No artificial ingredients, appealing to health-conscious consumers.
Dietary Flexibility: Suitable for vegan, gluten-free, and low-sugar diets.

3.5. Brand Mantras

Slogan: "Healthy Bites, Sweet Life"
This slogan highlights the two core elements of Slim&Sweet: health and enjoyment. The brownies
are not only tasty but also beneficial for health, allowing customers to enjoy sweet flavors without
worrying about negative factors like weight gain or poor nutrition.

Brand Story

Slim&Sweet – The Journey of Flavor and Health

Slim&Sweet began from a deep passion for healthy food and a desire to provide tasty and nutritious
snack options for the young, dynamic community in Hanoi. Founded by young individuals with
busy lifestyles, Slim&Sweet understands the needs of the modern generation: they want food that
is not only delicious but also healthy, convenient, and does not affect their health or body shape.

Originating from the quick meals at offices or schools, Slim&Sweet decided to create a unique
brownie using natural ingredients like black beans and almond butter. These two components are
rich in nutrients, providing fiber, plant protein, and healthy fats, helping to boost energy without
causing weight gain or health issues.

We believe that each brownie is not just a snack but a sensory experience: sweet, smooth, and
nutritious. Slim&Sweet aims to convey the message that you can enjoy your favorite treats without

29
compromising your health. Our small, perfectly-sized brownies have brought joy to thousands of
young people in Hanoi, making healthy snacking an enjoyable experience.

The Slim&Sweet brand story is a journey to find the perfect balance between health and flavor.
We are committed to bringing you a "sweeter" life where you can freely enjoy delicious foods
while maintaining your health and figure. Slim&Sweet – the journey begins, carrying a mission to
care for health delicately, through each flavorful brownie.

Explanation: The brand story of Slim&Sweet starts from a profound passion for healthy food and
an awareness of the needs of the modern young generation. As life becomes busier and the demand
for healthy eating increases, Slim&Sweet's founders saw an opportunity to create products that
meet both of these needs.

• Quality Ingredients: By using black beans and almond butter as main ingredients, the
product ensures not only a delicious taste but also important nutritional values such as fiber,
protein, and healthy fats.
• Perfect Combination: Slim&Sweet is committed to providing customers with a brownie
experience that does not compromise health. The product is designed to deliver energy and
satisfaction in every bite, helping customers maintain a healthy lifestyle without giving up
their favorite treats.
• Mission and Vision: Slim&Sweet is more than just a brownie brand; it is part of a journey
to care for health and enhance quality of life. With a focus on both taste and nutrition, the
brand aims to make healthy eating easier and more enjoyable than ever.

This brand story not only highlights Slim&Sweet’s mission and values but also connects
emotionally with customers, demonstrating the care and effort put into offering a healthy product
that still ensures taste satisfaction.

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 Reference

[1] vinaresearch, "Khảo sát thị trường thức ăn nhanh tại các thành phố lớn," 25 10 2012.
[Online]. Available:
[Link]
nh_phố_lớn.
[2] C. Coc, "Báo cáo thị trường: Mở khóa ngành đồ ăn nhanh," 12 10 2023. [Online].
Available: [Link]
nhanh.

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 Evaluation table

No. Full name Student’s ID Duties Evaluate

1 Tạ Minh Anh 22K610010 Make the content of section (3.4)
2 Phạm Hoàng Duy 22K610031 • Make the content of section
(3.2.2)
• Present
3 Trương Thị Mỹ 21K610115 • Make the content of section
Linh (3.2.1), ([Link])
• Prepare powerpoint
4 Nguyễn Thị Ngọc 21K610130 • Make the content of section
Mai (3.2.2)
• Prepare powerpoint
5 Trần Tuấn Minh 22K610061 Make the content of section (2.1)
6 Trần Hoàng Nam 22K610064 • Make the content of section
(2.4)
• Present
7 Phạm Thanh Ngân 22K610066 • Make the content of section
(1), (3.1), (3.5)
• Synthesize and create Word
8 Trần Bảo Ngọc 22K610069 • Make the content of section
(2.2)
• Present
9 Nguyễn Xuân 22K610074 Make the content of section (2.3)
Phong

32