Bài report về Haidilao | Principle of Marketing | Đại học Ngoại thương
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Môn: Principle of Marketing (MAR211)
Trường: Đại học Ngoại Thương
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FOREIGN TRADE UNIVERSITY HO CHI MINH CAMPUS
------oOo------
PRESENTATION
Select a listed company and analyseitsmanagement
environment. Recommendsuitableand feasible strategy
for that company.
Group: 4
Subject: Business Management
Class: K60CLC7
Thành phố Hồ Chí Minh, tháng 09 năm 2022
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A/ INTRODUCTION 9
1. BRAND STORY 9
2. BRAND VISION 9
3. BRAND PHILOSOPHY 9
4. FEATURE SERVICES 9
5. IMPRESSIVE NUMBERS 9
B/ EXTERNAL ENVIRONMENT 10
I/ MACRO ENVIRONMENT (PESTEL) 10
1. POLITICAL10
1.1. Government stability 10
1.2. Tax policies 10
1.3. Competition regulations 10
1.4. Trade blocs 10
2. ECONOMIC 11
2.1. GDP trends and rate of economic growth 11
2.2. Inflation Rate 11
2.3. Government Spending 11
2.4. Demand Shifts from Goods Economy to Service Economy 11
2.5. Interest rate 11
2.6. Unemployment rate 11
3. SOCIAL 11
3.1. Demographics 11
3.2. Education level 12
3.3. Attitude 12
4. TECHNOLOGICAL 12
4.1. Technological infrastructure 12
4.2. Internet penetration 12
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4.3. Investment in R&D 12
5. ENVIRONMENTAL 12
5.1. Environmental regulations 12
5.2. Waste management 12
5.3. Customers’ awareness 13
5.4. Renewable technologies 13
6. LEGAL 13
6.1. Business Laws 13
6.2. Transparency in Judiciary System & Processes + Time Taken for Court Proceedings 13
6.3. Consumer Protection Laws 13
6.4. Employment Protection Laws 13
6.5. Intellectual Property Rights Protection 14
6.6. Health & Safety Laws 14
II/ MICRO ENVIRONMENT (PORTER’S 5 FORCES) 14
1. RIVALRY AMONG COMPETING SELLERS 14
2. SUPPLIERS 15
3. BUYERS 17
4. SUBSTITUTES 19
5. NEW ENTRANTS 19
C/ INTERNAL ENVIRONMENT 20
I/ ORGANIZATIONAL CULTURE 20
1. BRAND IMAGE 20
1.1. Name “Haidilao” 20
1.2. Logo 20
1.3. Slogan 20
2. BRAND MISSION 21
2.1. Philosophy 21
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2.2. Vision 21
3. CORPORATE SOCIAL RESPONSIBILITY 21
3.1. Devotion to communities21
3.2. Bingwen library 21
3.3. “Beauty in Kindness” 22
3.4. Jianyang Tongcai Experimental School 22
II/ RESOURCES 22
1. TANGIBLE RESOURCES 22
1.1. Finance 23
1.2. Physical assets 23
2. INTANGIBLE RESOURCES 23
2.1. Technology 23
2.2. The brand 24
2.3. Customer relationship 24
3. HUMAN RESOURCES 24
3.1. Training and development 24
3.2. Employee well-being 25
III/ CAPABILITIES 25
1. VALUE CHAIN & VALUE SYSTEM 25
2. PRIMARY ACTIVITIES 25
2.1. Inbound Logistics 26
2.2. Operations 27
2.3. Outbound Logistics 27
2.4. Marketing and Sales 28
2.5. Services 28
3. SUPPORTING ACTIVITIES 29
3.1. Firm Infrastructure 29
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3.2. Human Resources Management 30
3.3. Technology Development 31
3.4. Procurement Activities at Haidilao 32
D/ SWOT ANALYSIS 32
I/ SWOT 32
1. STRENGTHS 32
2. WEAKNESSES 34
3. OPPORTUNITIES 36
4. THREATS 38
II/ SWOT STRATEGIES 40
1. SO STRATEGY 40
2. WO STRATEGY 40
3. ST STRATEGY 40
4. WT STRATEGY 41
E/ REFERENCES 41
HAIDILAO
A/ INTRODUCTION
1. BRAND STORY
The brand Haidilao was founded in 1994. With over 20 years of development, Haidilao
International Holding Ltd. has become a world-renowned catering enterprise. (20)
2. BRAND VISION
Communication is a must in establishing trust among people and Chinese hot pot is a perfect
choice for enhancing social networking at table. Haidilao is committed to encouraging more
people to chat with each other and enjoy their food at table, and creating a kind of table culture
favored by young people around the world. (20)
3. BRAND PHILOSOPHY
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We are always committed to the mission of creating happy hot pot time and spreading healthy
hot pot culture to foodies all over the world through selected products and innovative services.
As a large restaurant chain with global outreach, following the business principle of integrity,
Haidilao seeks to provide consumers with more thoughtful services and healthier, safer and
better food with more nutrition, while enhancing the stability and safety of food quality. (20)
4. FEATURE SERVICES
Taking customer experience as our top priority, we always provide innovative and pleasant
services to our customers. All the personalized services offered by our restaurants are derived
from the innovative ideas of our staff. These warm and personalized services turn every meal
into a happy experience. (20)
5. IMPRESSIVE NUMBERS
In 2021: 1,443 restaurants in total in China, Hongkong, Macao, Taiwan and other 11 countries
with more than 378 million customers. (6)
B/ EXTERNAL ENVIRONMENT
I/ MACRO ENVIRONMENT (PESTEL)
1. POLITICAL
1.1. Government stability
- No imminent threats from terrorists and military issues in existing markets. (1)
- Political stability in existing markets: China, HongKong, Malaysia, Singapore, VietNam,
South Korea, Japan, The USA, Australia… → support business’s growth expansion. (2) -
China has good records of consistently adhering to international treaties, specifically WTO’s
regulations on Restaurant Industry. (3)
- Enhance trade relations with other countries + attract FDI → equity for business to upgrade
infrastructure + brand image. (4)
1.2. Tax policies
High domestic tax rate : “It is understood that Singapore has to pay a very low tax, no matter
whether it is personal income tax or corporate income tax, it will not exceed 20% ,
but it is different in China. It needs to pay 50% of the tax.” (5)
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1.3. Competition regulations
China’s comprehensive system of competition law (came into effect on 1 August 2008) with
key rules against monopoly -> ensure fair play among competitors, monitor and regulate
import and protect rights and benefits of stakeholders. (6)
1.4. Trade blocs
China maintains 17 Free Trade Agreements (FTAs) and is implementing additional 8 FTAs
→ Business can lower resource costs, increase supply of talented labor, and benefit from
gaining advanced technology and knowledge from foreign experts. (7)
2. ECONOMIC
2.1. GDP trends and rate of economic growth
- GDP growth rate increases signals growth in demand -> Business leverages this trend by
expanding its product range and targeting new customers (by identifying changes in
consumption patterns -> emerging value proposition).
- The Gross Domestic Product (GDP) in China was worth 17734.06 billion US dollars in
2021. GDP in China is expected to reach 16700.00 USD Billion by the end of 2022.
2.2. Inflation Rate
Impose impact on the demand of products → High inflation can cause an increase in prices
(→ lose brand loyalty and constant endeavors to manage costs.) and decrease in disposable
income (→ lower purchasing power).
2.3. Government Spending
The government of the country is running deficit budgets → Business may expose currency
depreciation risks in the medium term.
2.4. Demand Shifts from Goods Economy to Service Economy
2.5. Interest rate
Moderate interest rate helps businesses take loans for development and expansion.
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2.6. Unemployment rate
Will affect purchasing power as well as cost of production. (Unemployment rate high → lower
disposable income, unqualified labor force → high cost of production → high price , work
productivity is high → employ skilled workers at competitive price).
3. SOCIAL
3.1. Demographics
Gender roles, power structure in society, portion of youngsters, birth rates…
3.2. Education level
Indicator of quality of labor force, consumption decisions and preferences.
3.3. Attitude
Towards authority, savings, health, leisure experience…
4. TECHNOLOGICAL
4.1. Technological infrastructure
Evaluation of technology infrastructure is imperative before entering a new market to assess
how technology affects the firm’s value chain → deciding efficient production process and
effective approaching strategies.
4.2. Internet penetration
Leverage social media and e-commerce to increase direct retail to consumers and sales;
leverage Internet’s trends to expand awareness among customers, increase customers’ loyalty.
4.3. Investment in R&D
Technological innovation can boost technological upgradation in business’s policies in
management, cost-effective marketing, and upgrade production procedure. potentials of 5G →
Invest more in R&D to improve customers’ experience with increased delivery speed and
available access.
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5. ENVIRONMENTAL
5.1. Environmental regulations
Have a great impact on business performance, national budget’s allocation and cost advantage
in the Restaurant Industry: Need to adhere to all environmental regulations, norms, especially
in countries with strict environmental law systems.
5.2. Waste management
Many countries have strict norms of waste management and sustainability → Associate to the
waste management authorities and institutions to be able to follow regulations on hygiene and
disposal and avoid any future environmental scandals.
5.3. Customers’ awareness
How customers evaluate green lifestyles and eco-friendly products directly impact business’s
performance → altering product innovation priorities, develop sustainable products → cater
traditional value proposition.
5.4. Renewable technologies
Some countries offer subsidies to stimulate investment in renewable technologies → Business
can leverage opportunities to invest in renewable technologies to ensure long-term
sustainability → enhance brand image → increase stakeholder satisfaction and expand the
customer base.
6. LEGAL
6.1. Business Laws
Before entering into a new market: Business needs to assess what the business laws are and
how they are different from the home market.
6.2. Transparency in Judiciary System & Processes + Time Taken for Court
Proceedings
Knowing these laws is essential for fair and consistent decision making + protect business’s
rights.
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6.3. Consumer Protection Laws
Be aware of what are the consumer laws in the country, what is the rate of enforcement, what
is the attitude of authorities towards consumer protection laws → Align its policies and
protection for customers’ private information.
6.4. Employment Protection Laws
Know clearly what employment laws and discrimination laws are in the country and are they
consistent with the business model → Providing a secure, fair, equal work environment for the
workforce → increase productivity and attracting talented labor.
6.5. Intellectual Property Rights Protection
Haidilao should assess the level of protection that intellectual property rights get under the
legal system of the country → protect business’s innovations and patents.
6.6. Health & Safety Laws
Different countries have different attitudes towards health and safety → business conducts
thorough research and needs to comply with the health and safety laws in the country, provide
training, guidelines for physical and emotional safety for employees.
II/ MICRO ENVIRONMENT (PORTER’S 5 FORCES)
1. RIVALRY AMONG COMPETING SELLERS
Competitive Landscape China
- Chinese Cuisine Market - Haidilao Leading in a Highly Fragmented Market
● The Chinese cuisine market in the PRC is highly fragmented, with the five largest
players holding only 0.8% of the total market share in 2017.
● Haidilao ranked first in the Chinese cuisine market in the PRC in 2015, 2016 and 2017
in terms of revenue.
● Haidilao also had the highest annual guest traffic at approximately 103.2 million guests
in 2017.
● In 2017, Haidilao was one of the fastest growing restaurant groups among major
Chinese restaurant groups.
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● Haidilao ranked first among major Chinese cuisine brands in terms of certain key
performance indices, including but not limited to table turnover rate, annual sales per
restaurant and annual guest traffic.
● Gross revenue of Haidilao is more than 2 times higher than the 2nd company.
- Hot Pot Restaurant Market — Haidilao the Clear Leader
● Players in the hot pot restaurant market are intensely competitive with respect to food
quality and consistency, the value of money, ambiance, service, location, supply chain,
and availability of trained employees.
● The five largest players in the hot pot restaurant market in the PRC only held an
aggregate market share of 5.5% in terms of 2017 revenue. Haidilao ranked first in the
hot pot restaurant market in the PRC in 2015, 2016 and 2017, with a 2.2% market share
in terms of 2017 revenue.
Global Chinese Cuisine Market - Haidilao the Clear Leader in Overseas Expansion.
- In order to take advantage of the growth of the global Chinese cuisine market, a number of
China-based restaurant groups have expanded overseas in the past few years.
- The five largest players only held a 0.6% share of the global market in terms of 2017
revenue. Haidilao was the largest Chinese cuisine company globally in 2015, 2016, and 2017
in terms of revenue.
2. SUPPLIERS
We primarily procure:
- Soup base for our hot pot Yihai Group has been our primary supplier of soup base- Food
ingredients, including meat, seafood and vegetables.
- Decoration materials and renovation services, decoration project management
services,equipment and consumables used in our restaurants.
- We procure food ingredients that do not require processing from third-party suppliers
andProcessed Ingredients from Shuhai Group.
We procured warehousing and storage services and logistic services and food ingredients from
Shuhai Group.
- Decoration materials, renovation services and decoration project management services
fromShuyun Dongfang.
- Soup base and instant hot pot products from Yihai Group.
- Lamb products from Jarud Qi Haidilao.
- Human resources management and consulting services from Weihai Consulting.
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We have entered into long-term framework agreements with these parties to secure a stable
supply of goods and services.
Our purchase amount from our five largest suppliers amounted to RMB 1,948.1 million, RMB
2,530.5 million, RMB 4,928.6 million and RMB 2,288.7 million in 2015, 2016 and 2017 and
the six months ended June 30, 2018, representing 63.3%, 68.2%, 81.7% and 51.7% of our total
purchases in the respective periods.
(Haidilao Global Offering, page 5)
We generally have more than two qualified suppliers for each type of major food
ingredient to reduce reliance on a single supplier. Through our years of operations, we have
identified and established stable business relationships with high quality suppliers for our
major food ingredients → Suppliers are not too concentrated.
Have “Qualified Supplier List”. Since 2017, Our Group has been identifying alternative
suppliers for the Haidilao Customized Products in case the supply from the Yihai Group
cannot meet its requirements and demand, and has entered into an agreement with an
independent third-party supplier to procure a specific type of soup base product which the
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Yihai Group is currently unable to manufacture → Substitute of ingredient products are
available.
We rely on certain connected persons for supplies and services and any shortage or
interruption in supply could slow our growth and reduce our profitability.
Difficulty in finding reliable suppliers of food ingredients meeting our quality standards at
acceptable prices and quantities → Switching cost is high.
(Haidilao Global Offering, page 212)
→ Have strong relationships with suppliers.
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3. BUYERS
- Brand recognition. Haidilao had the strongest brand recognition and was the most popular
dine-out option among Chinese cuisine brands.
- Dining experience. Haidilao ranked first in terms of dining experience among Chinese
cuisine restaurant brands. Approximately 99.3% of participants who have dined at Haidilao
left satisfied, among which over 50% of participants were very satisfied with the dining
experience.
- Service. Haidilao was considered to have the best service attitude among major Chinese
cuisine brands.
- Differentiating factors. Participants considered Haidilao’s enthusiastic and intimate service,
tasty dishes, hygiene and healthiness of the food and menu variety to be the key factors when
choosing Haidilao. In particular, participants considered enthusiastic and intimate service to
be the most differentiating factor in Haidilao’s dining experience.
- Repeat guests. 68.3% of the participants who have dined at Haidilao visit at least once every
month and 98.2% of the participants who have dined at Haidilao would visit again.
- Hot pot is the most popular dine-out option in the PRC within the Chinese cuisine
segment. Hot pot is popular because of the diverse food ingredients available, the ability to
personalize taste preferences, the fresh and healthy cooking method and the social element of
the cuisine.
- Sichuan style hot pot accounted for approximately 64.2% of the PRC hot pot restaurant
market in terms of revenue in 2017 and is the most popular hot pot style in the PRC,
according to the F&S Survey.
- The popularity of Chinese cuisine in overseas markets is increased → Buyer demand is high.
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(Source: National Bureau of Statistics, Frost & Sullivan Analysis)
- Buyer cost of switching to competing products is low.
- After Covid-19, buyers’ income is lower → more price-sensitive.
4. SUBSTITUTES
- Haidilao’s substitutes are:
+ Other restaurants: BBQ, noodles, steamed hot pot...
+ Self-cooking.
- There are too many substitutes → increase competitive pressure.
- Haidilao targets the high-end customer segment. After Covid-19, customers are more likely
to be concerned about their health and diet. → increase the possibility that they cook their
own meal at home.
- Overall, the threat of substitutes is strong for the following reasons:
+ High availability of substitute products.
+ Low switching cost.
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5. NEW ENTRANTS
- Entry barriers and challenges: Although there may not be significant entry barriers in
operating and managing a single restaurant, there are significant entry barriers in becoming a
large-scale chain restaurant group with multiple restaurant locations.
- Ability to manage growth. A large-scale chain restaurant generally has a large number
of restaurant staff. Despite comprehensive internal policies, due to the labor-intensive nature
of the restaurant business, it is more difficult to ensure that all of the staff comply with laws
and regulations of multiple jurisdictions, especially the detailed and stringent regulations in
relation to food safety.
- Supply chain management. The quality and the taste of hot pot depend significantly
on the freshness and quality of food ingredients. For a large-scale chain restaurant group, it is
crucial to have the ability to procure fresh and high quality food ingredients at favorable prices
from reliable suppliers and manage the inventory and logistics for food ingredients across all
of its restaurants. It is also important to ensure high quality food ingredients are available at
restaurants located in different regions and countries. New entrants with less supply chain
management experience may not be able to manage their supply chain effectively, which may
result in higher costs as well as have an adverse effect on the guest’s dining experience.
- Initial set-up capital expenditure. Operating a large-scale chain restaurant group
requires a large amount of initial investment for rental costs, decoration costs, equipment costs
and staff costs, among others. For new entrants with less capital and less bargaining power,
the initial set-up capital expenditure required for large-scale operations may be too significant
and insufficient revenue generated from newly operating restaurants may create cash flow
problems.
- Increasing labor costs and high employee attrition. Employee attrition is a pain point
of the catering industry at large. Like other restaurants, hot pot restaurants require a large
number of service personnel. Low attrition rates allow restaurants to maintain their service
quality and continued growth. As a result, restaurants may need to offer higher salaries in
order to retain experienced personnel.
C/ INTERNAL ENVIRONMENT
I/ ORGANIZATIONAL CULTURE
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1. BRAND IMAGE
1.1. Name “Haidilao”
The name "Haidilao" originally came from Sichuan mahjong, which is a term used in mahjong
where the player wins the game with the last tile drawn by himself. When Haidilao was
founded, the founder did not have extra money to advertise, so to achieve a better publicity
effect, the only way to start is with the name, one is to remember, and the other is to have a
good meaning. It goes without saying that Sichuan people like to play mahjong, so "Haidilao"
is not only memorable, but also can be evoked at any time in life scenes. As for the good
meaning, besides the good luck of winning the game, the name is also associated with the
action of "fishing for food" from the pot, which is a vivid image. Therefore, the founders
decided on the name "Haidilao".
1.2. Logo
In 2019, based on the mid-to-high-end brand positioning and international market
development strategy, Haidilao adjusted its corporate image logo, one is to change the
Chinese pinyin "HaiDiLao" to English "Hi", in line with Haidilao's strategy of simultaneous
high-speed expansion at home and abroad. "Hi" not only harmonizes with the first word "Hai"
of "HaiDiLao", but also serves as a global symbol, which can refer to a mutual greeting of "
Hi", can also be interpreted as "High" for having a good meal, which can make foreign friends
easy to read and remember at the same time and better understand China's unique hot pot
social culture; The second is to simplify and merge the Haidilao's pattern and characters,
deleting the original wing-like pattern and simplifying the long series of pinyin characters, and
merging them together into a concise combination of the circle "Hi" and the Chinese
characters "Haidilao", which gives people a simple, high-end, international feeling. The "i" is
designed in the shape of a chili pepper, representing the identity of Haidilao, which is known
for its spicy Sichuan-style hot pot.
1.3. Slogan
“KHÁCH HÀNG HÀI LÒNG – NHÂN VIÊN TẬN TÂM”
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2. BRAND MISSION
2.1. Philosophy
We are always committed to the mission of creating happy hot pot time and spreading healthy
hot pot culture to foodies all over the world through selected products and innovative services.
As a large restaurant chain with global outreach, following the business principle of integrity,
Haidilao seeks to provide consumers with more thoughtful services and healthier, safer and
better food with more nutrition, while enhancing the stability and safety of food quality.
2.2. Vision
Communication is a must in establishing trust among people and Chinese hot pot is a perfect
choice for enhancing social networking at table. Haidilao is committed to encouraging more
people to chat with each other and enjoy their food at table, and creating a kind of table culture
favored by young people around the world.
3. CORPORATE SOCIAL RESPONSIBILITY
3.1. Devotion to communities
While ensuring steady operation, we genuinely appreciate everyone who has supported us and
never forgot our original aspiration. We actively fulfil our corporate social responsibilities,
encourage our employees to participate in charity and volunteer work, contributing to local
communities.
3.2. Bingwen library
The name “Bingwen” is taken from the grandfather of Mr. Zhang Yong, Chairman of Haidilao
in honor of the old gentleman and as a way of giving back to society. Our motto is “Think and
aspire, read and learn”. The public library project was initiated to boost cultivation of the
mind, encourage people to read more and better and build a place for permanent learning.
Located on the third floor of Xuhai Times Square, the library fosters a dynamic modern space
across an area of 1,080 square meters, which are divided into several sections by an entire
GRG decorative material and book shelves. It employs the Chinese Library Classification
(CLC) or Classification for Chinese Libraries (CCL) scheme to classify over 30,000 books
into 26 categories. Visitors can read e-books, borrow printed books, and enjoy interactive
reading sessions and public lectures.
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3.3. “Beauty in Kindness”
Through the cooperation with the 5A-level foundation, Ai You Foundation, we have collected
and auctioned children’s paintings at our restaurants nationwide. And the money we raise will
be used to improve the living conditions and healthcare services of children struggling in
poverty. We aim to provide long-term assistance to the welfare and healthcare projects of
children aged 0-14.
3.4. Jianyang Tongcai Experimental School
Jianyang Tongcai Experimental School is a private boarding school established in June 2001
by Sichuan Haidilao Catering Co., Ltd. Provided with the funds from Haidilao, the School is
growing rapidly due to the hard work of all faculty and students, under the support of the
municipal Party committee and people’s government of Jianyang City and competent
education administrations at different levels.
The name of Tongcai School was inspired by “Tongcai Academy”, the predecessor of
Jianyang Middle School. The term “Tongcai”, literally versatile talents in Chinese, represents
the mission and goals of the school that seeks to train every student to be successful with
widely developed skills.
II/ RESOURCES
1. TANGIBLE RESOURCES
1.1. Finance
- Profit before tax of Chinese restaurant chain Haidilao Group from 2015 to 2021(in billion
yuan) (7)
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