BỘ GIÁO DỤC VÀ ĐẠO TẠO
TRƯỜNG ĐẠI HỌC HOA SEN FINAL REPORT TOPIC:
NEW PRODUCT FOR PIZZA 4P’S Subject: Product Management Class: 0300 Instructor: TRẦN THỊ THU HIỀN Group: 6
1. Đinh Nguyễn Như Ý 22013630 2. Trần Thảo Anh 22107763 3. Lại Thụy Mai Vy 22104782
4. Nguyễn Huỳnh Hoàng Anh 22122852
5. Nguyễn Huỳnh Hoàng Anh 22122852 6. Hoàng Minh Hiếu 22114247
TP. Hồ CHí Minh, tháng 11 năm 2023 TABLE OF CONTENT
TABLE OF TABLES...................................................................................................................v
TABLE OF IMAGES.................................................................................................................vi
PHASE 1: OPPORTUNITY IDENTIFICATION................................................................1
1.1 Micro environment.................................................................................................................. 1
1.1.1. Customers:...................................................................................................................................................... 1
1.1.2. Solid supply source:................................................................................................................................... 2
1.1.3. Dedicated staff:............................................................................................................................................. 2
1.1.4. Pizza 4P’s competitors:............................................................................................................................ 2
1.2 Macro environment................................................................................................................. 3
1.2.1. Demographics............................................................................................................................................... 3
1.2.2. Economy........................................................................................................................................................... 4
1.2.3. Natural.............................................................................................................................................................. 4
1.2.3. Technology:.................................................................................................................................................... 4
1.2.5. Political and social environment........................................................................................................ 5
1.3 Opportunities............................................................................................................................ 6
1.3.1. Opportunity 1: Online Ordering and Delivery Optimization...............................................6
1.3.2. Opportunity 2: Menu Innovation and Specialized Offerings................................................6
1.3.3. Opportunity 3: “From farm to table”:............................................................................................... 7
1.3.4. Opportunity 4: Tech Integration for Customer Engagement...............................................7
1.3.5. Opportunity 5: Expansion and Collaborations............................................................................ 7
1.4 Product Innovation Charter (PIC)....................................................................................... 8
1.4.1 Background..................................................................................................................................................... 8
1.4.2. Focus.................................................................................................................................................................. 8
1.4.3. Goals and Objectives.................................................................................................................................. 9
1.4.4. Degree of innovativeness........................................................................................................................ 9
1.4.5. Quality............................................................................................................................................................... 9
PHASE 2: CONCEPT GENERATION................................................................................10
2.1. Forming Ideas....................................................................................................................... 10
2.2 VRIN Model............................................................................................................................ 15
2.3. Product Concepts.................................................................................................................. 19
PHASE 3: CONCEPT EVALUATION................................................................................24
3.1 Initial reaction........................................................................................................................ 24
3.2 Concept testing survey.......................................................................................................... 25
3.3 Scoring model......................................................................................................................... 29
PHASE 4: PRODUCT DEVELOPMENT...........................................................................32
4.1 Product Design....................................................................................................................... 32
4.2 Product Architecture............................................................................................................ 32
4.3 Prototype................................................................................................................................. 34
PHASE 5: LAUNCHING PRODUCT..................................................................................35
5.1 Market testing........................................................................................................................ 35
5.2 Strategic Launch Planning................................................................................................... 35
5.3 Differentiation........................................................................................................................ 36
Table 8. Differentiation of rivals................................................................................................. 36
5.4 Positioning............................................................................................................................... 36
5.5 Branding.................................................................................................................................. 37
5.6 Price.......................................................................................................................................... 38
5.7 Place......................................................................................................................................... 38
5.8 Promotion................................................................................................................................ 38
5.9 ATAR model........................................................................................................................... 39
CONCLUSION..........................................................................................................................41 ABSTRACT
The following report provides an overview of the collaborative process
and team discussions regarding the planning and development of Pizza 4P's new
pasta product line. After considering the current state of the product and its future
direction, our team made the decision to focus on developing the concept named
Purple dragon fruit pasta as a new product in the Product Management course.
This choice was made after carefully considering both subjective and objective
factors, taking into account customer preferences and behaviors. ACKNOWLEDGEMENT
We would like to sincerely thank and deeply appreciate the HOA SEN
University instructors for setting up the necessary conditions for us to have a
valuable subject. We also have a great deal of knowledge with the research and
product development process after taking this course.
We also like to express our gratitude to Lecturer Tran Thi Thu Hien for
her enthusiastic leadership and guidance during the course of our education.
Errors may inevitably occur during the test and report-writing processes
and I sincerely hope that you will pardon them. Simultaneously, the study has
limitations owing to its restricted theoretical background and practical
experience. As such, we welcome your feedback and recommendations to expand
our knowledge base. in anticipation of report. TABLE OF TABLES
Table 1. Perceptual Map for new Pizza 4P’s product ideas............................................11
Table 2. VRIN Model......................................................................................................16
Table 3. Product concept.................................................................................................20
Table 4. Table of initial reaction technique.....................................................................24
Table 5. Scoring Model...................................................................................................30
Table 6. Product Architecture..........................................................................................32
Table 7. Strategic Launch Planning.................................................................................35
Table 8. Differentiation of rivals.....................................................................................36 TABLE OF IMAGES
Image 1. Perceptual mapping..........................................................................................12
Image 2. Product design..................................................................................................32
Image 3. Logo..................................................................................................................37 TEAM MEMBERS EVALUATION Đinh Nguyễn Hoàng Nguyễn
Trần Thảo Lại Thụy Trần Thị Full name Huỳnh Minh Như Ý - Anh - Mai Vy - Thanh Đào SID Hoàng Anh Hiếu- 22013630 22107763 22104782 - 22122687 - 22122852 22114247 Attending 20 Meeting on 20 20 20 20 20 Time (20 %) Contributing to 20 Discussion 20 20 20 20 20 (20 %) Completing 20 Tasks on Time 15 20 20 20 20 (20 %) Delivering High 20 Quality Tasks 20 20 20 20 20 (20 %) Presentation 20 20 20 20 20 20 (20 %) Overall Score 100 95 100 100 100 100 (100 %)
PHASE 1: OPPORTUNITY IDENTIFICATION 1.1 Micro environment 1.1.1. Customers:
Pizza 4P's targets consumers 18 years and older who live and work in big
cities such as Ho Chi Minh City, Hanoi, Da Nang, and Hai Phong. In addition,
eating out is also becoming an essential part of modern life due to the increasing
demand for making friends, meeting business partners, most of whom are
students or people with stable income. Outside careers increase depending on
where they live. For that reason, Pizza 4P's also aims to be stimulated by the
simplicity and appeal of the food, the quality of the need to contact and meet, and
the standards of Vietnamese consumers about delicious foods. Customers who
love food, want to gather to eat, enjoy food outside, skip the common parties, or
maybe couples, or families. The family wants to have a sunset dinner together at
a restaurant.cheese will create favorable and loving consumers, which will make
them willing to pay for its product food 12 of life, immerse yourself in the meals
and joys of life offered by Pizza 4P's. Because the price of products at Pizza 4P's
ranges from 250,000 - 500,000VND/serving. With the integration of many
cultures, the love for cheese is one of the top reasons why Pizza 4P's wants to
reach customers with a fairly average income - over 7 million VND a month.
Promoting foreign dishes such as Pizza 4P's - which produces 8 types of cheese
with different flavors Pizza 4P's also regularly launches pizzas with unique and
new flavors, making it one of the groups of modern people. , likes to try new
things and is also someone who enjoys life. It is a fake flavor. Different
businesses have helped businesses strongly enter the Vietnamese market. Pizza
4P's guides consumers 18 years and older to live and work in big cities like Cho
City. Pizza 4P's hits VNM of Vietnamese people who love cheese for its customers
1.1.2. Solid supply source:
Pizza 4P's owns many sustainable local sources of supply, ensuring the
deliciousness of the ingredients. This contributes to the high quality of the dish.
1.1.3. Dedicated staff:
The attitude and service provided at Pizza 4P's brings comfort to
customers. Staff are very professional and enthusiastic.
1.1.4. Pizza 4P’s competitors: 1.1.4.1. Pizza Hut Advantage:
- Global scale: Pizza Hut has an extensive global network, which can provide
marketing and promotional strategies globally.
- Strong brand: Pizza Hut is a famous brand that can take advantage of the benefits
of brand recognition to attract customers. Defect:
- Mass production of products: Due to its large scale, Pizza Hut may have to use
mass production of products, reducing product personalization.
- High advertising costs: Global advertising costs can be quite a challenge,
especially for small businesses. 1.1.4.2. Pizza Company Advantage:
- Localization: The Pizza Company can focus on creating products and services
that meet the specific needs of the local market.
- Menu diversity: Offering a variety of pizzas and other conscious dishes to meet the diversity of the market. Defect:
- Global regulatory regime: Compared to Pizza Hut, The Pizza Company's
international regulation may limit its ability to compete globally.
- Brand recognition may be lower: Compared to Pizza Hut, The Pizza Company's
brand may be less strongly recognized. 1.1.4.3. Peperonies Advantage:
- Quality Attributes: Peperonies can focus on providing high quality products and
can use this strategy to attract customers.
- Operational in business: Due to its smaller size, Peperonies can be more active in
laboratory work and respond quickly to the market. Defect:
- Scale regime and long-range influence: Due to its small size, Peperonies may
have difficulty competing with large chains on price and advertising.
- Brand awareness risk: If Peperonies does not have a strong follow-up strategy,
they may have difficulty building brand awareness. 1.2 Macro environment
Pizza 4P's (Platform personal pizza for pizza) is currently one of the most
successful pizza brands in Vietnam with a scale of 25 establishments, famous for
its homemade cheese founded by Sanae and Yosuke Masuko. Achieving success
like today, the Pizza 4P's brand has gone through a long path of development. 1.2.1. Demographics
Our country's current population is more than 98 million people (March
13, 2022). The trend of Vietnamese people switching from street food to fast
food is increasingly favored because of convenience and more professional and attentive service.
Vietnam has a largely young population and international students,
foreigners which are the group that accounts for the majority of the demand for fast food.
=> With the above advantages, investing in food is extremely reasonable.
Pizza 4P's has grasped this trend and has been growing strongly in the present. 1.2.2. Economy
Pizza 4PS's equity as of June 30, 2023 reached 218.2 billion VND, an
increase of 55% compared to the previous period; The debt/equity ratios
decreased from 1.58 to 1.03 times; Outstanding bond debt/equity is 0.064 times.
From 2022, Pizza 4PS's business results have improved with profit after
tax of 83.6 billion VND while the previous 2 years lost nearly 38 billion VND
and 21 billion VND respectively.
In 2022, Pizza 4PS paid 7.1 billion VND of bond principal and about 2.1
billion VND of interest, thereby reducing the bond principal balance as of
December 31, 2022 to 13.9 billion VND.
In 2022, Pizza 4PS served more than 3.5 million customers at the store,
double the number of 1.7 million customers in 2021. 1.2.3. Natural
Vietnamese people have a tradition of eating bread, and pizza also has
main ingredients quite similar to Vietnamese bread, so Pizza 4P's in particular
and other Pizzas in general are easily accepted and loved by Vietnamese people.
Consider pizza as a familiar dish. Pizza is very suitable for every meal, has high
nutritional content, has wheat flour to help you feel fuller and ensure all activities
of the day. Vietnamese people love to eat hot food, like in a tray of rice we can
easily eat. It's easy to see that the dishes and rice are hot. Pizza 4P's is served
with a hot cake taken from the earthenware oven and uses firewood to burn.
Currently, Pizza 4P's is present in the frozen Pizza market to serve customers far
away from branches. Pizza 4P's provides detailed instructions to customers on
how to bake and reheat the cake to ensure preservation. Original taste of cake. 1.2.3. Technology:
Behind Pizza 4P's high-end service is the "support" of an entire
technology system built and operated by the company's staff. Taking on the
position of Director of Innovation Technology at this brand is Kelly Tran.
Previously, the IT team's work here was as simple as ensuring the camera
systems, point of sale equipment or wifi,... worked normally. However, when
Covid-19 hit, Pizza 4P's had to find new sources of revenue in the context of
restaurants having to close due to social distancing orders. This brand has
abandoned its "principle" of only serving at restaurants for 9 years. Last year to
deploy online sales channels and home delivery. However, instead of switching
to applications like Grab, Gojek or Now, Pizza 4P's built a sales channel through
its own website and even developed a battery in the thermos box to keep the food
in perfect condition. Not only taking orders and delivering orders, but all other
processes at Pizza 4P's 25 stores are managed by 100% "home-made" technology
such as electronic invoices and building customer feedback systems. customers,
partners, and employees. After only 8 months of developing the ordering system
on the website and home delivery, this sales channel has helped Pizza 4P's earn
30 billion VND, deliver more than 60,000 orders and grow monthly. At the same
time, this brand's website is also in the top 10 e-commerce in Vietnam, next to
big names such as Tiki, Lazada, Shopee,...
1.2.5. Political and social environment
1.2.5.1. Pizza 4P's focuses on employee satisfaction
Employees can directly visit and practice at the restaurant's production
farms. Through this, employees will better understand the production process as
well as the difficulties in producing clean vegetables, from which they will
appreciate food more, avoid food waste, and can also explain to diners about the ingredients in the dish
1.2.5.2. Contribution activities and connection with the community
In recent years, this brand's social activities have appeared increasingly
dense. The most prominent of these is the charity project "Table For Two" with
the extraction of 1% of the company's profits to bring meals full of smiles to
children in Van Ho district, Son La province.
1.2.5.3. Research and develop a menu that includes many healthy dishes:
If you pay attention, you will see that about 25% of 4P's appetizer menu is
vegetable dishes and the restaurant also has many options for vegetarians. This is
also one of the moves to encourage people to eat a more balanced and healthier diet.
1.2.5.4. Environmental protection:
Pizza 4P's is currently implementing many unique and creative measures
such as taking advantage of Whey water in the cheese production process to
reuse in dishes and drinks, or using earthworms to Transform organic waste from
leftover food into useful products. In addition, besides stopping the use of plastic
straws and changing the material of take-out boxes, furniture such as tables and
chairs at the restaurant are also made from recycled materials. In addition, 4P's
also aims to radically reduce food waste in all branches, use clean electricity
from the sun as well as contribute more to social activities. 1.3 Opportunities
1.3.1. Opportunity 1: Online Ordering and Delivery Optimization
With the growing trend of online food delivery, Pizza 4P's can optimize its
online ordering platform and delivery services. This includes investing in user-
friendly mobile apps, website interfaces, and efficient delivery systems to
enhance customer convenience and satisfaction.
1.3.2. Opportunity 2: Menu Innovation and Specialized Offerings
Introducing innovative and unique pizza flavors or offering specialized
options for different dietary preferences (e.g., gluten-free, vegan) can attract a
wider range of customers. Keeping the menu fresh and exciting can generate
buzz and keep customers coming back for new experiences.
1.3.3. Opportunity 3: “From farm to table”:
Adopt sustainable practices, such as sourcing local and organic
ingredients. This is a health assurance process associated with Pizza 4P's. The
staff here regularly go into the field, looking for households that grow vegetables
and many other products using organic methods, without using chemicals to buy.
directly from farmers. Or reducing packaging waste and implementing energy-
saving measures, which can appeal to consumers who are environmentally
conscious and interested in a healthy lifestyle. Not only is this in line with social
responsibility, but it can also appeal to a growing market segment.
1.3.4. Opportunity 4: Tech Integration for Customer Engagement
Opportunity: Leveraging technology for customer engagement, loyalty
programs, and personalized promotions can enhance the overall customer
experience. Implementing a customer relationship management (CRM) system
and utilizing data analytics can help Pizza 4P's understand customer preferences
and tailor marketing strategies accordingly.
1.3.5. Opportunity 5: Expansion and Collaborations
Exploring opportunities for expansion into new locations or collaborating
with other businesses can help Pizza 4P's tap into different markets.
Collaborations with local breweries, wineries, or cultural events can create
unique dining experiences and attract diverse customer demographics.
With the 5 opportunities listed above, our team has analyzed the
conditions and potential of Pizza 4P’s to select the most potential opportunity to
develop a new product idea which was opportunity 3. Based on the healthy
lifestyle trend of the majority of people. Pizza 4P's should focus on researching
how to use ingredients to reduce calories but still have enough nutrients and
attract customers. So that customers can enjoy dishes that are full of nutrients and
vitamins and especially avoid obesity.
1.4 Product Innovation Charter (PIC) 1.4.1 Background
Pizza 4P's is a popular pizza brand in Vietnam with an interesting origin
and background. The brand was founded by Japanese couple Yosuke Masuko
and Sanae Takasugi in 2011 in Ho Chi Minh City.
The name "4P's" represents four key elements in the brand's philosophy:
People, Product, Place, and Purpose. 4P's aims to build a friendly environment,
create high-quality pizza products from fresh ingredients, create a place where
people can enjoy intimate and cozy meals, and promote social goals such as
training and supporting the local community.
By successfully combining the flavors of Western pizza with fresh
Vietnamese ingredients, Pizza 4P's quickly attracted attention and made a
difference in the food industry in Vietnam. The brand has expanded its network
of stores throughout Vietnam and even expanded abroad, creating a community
of quality and creative food lovers. 1.4.2. Focus
4P's targets customers with an average income or above, aged 25-45, who
love food and are looking for new and quality dining experiences. They are likely
to pay for high-quality products made from fresh ingredients and with unique
flavors. They also care about the atmosphere and dining experience at the restaurant.
With its efforts, 4P's has become one of the leading pizza brands in
Vietnam. The brand has attracted a large number of customers, from young
people to families with young children.
1.4.3. Goals and Objectives
Measure the impact of new products and bring benefits to the brand. Short-term:
- Gauge the impact of new products
- Understand customer psychology when using new products Long-term:
- Offer more choices for customers
- Guide customers to healthy and nutritious products
1.4.4. Degree of innovativeness
In order to be successful in the food industry, especially in the pizza
segment, brands need to quickly be the first to market with new products. This
gives them a competitive advantage and helps them to gain brand recognition and awareness. 1.4.5. Quality
Pizza 4P's has been able to maintain its reputation for quality and service.
These two factors are essential for the brand to continue to be successful. New
products must also be of high quality in order to maintain the brand's values and meet the needs of customers.
PHASE 2: CONCEPT GENERATION 2.1. Forming Ideas
In the previous stage, we selected an opportunity for Pizza 4ps to focus on
development: bringing a sustainably sourced high-quality organically grown
produce for a group of customers. And to develop this opportunity into a
concrete idea for a new product, we will choose the Perceptual map method to
generate the right and appropriate ideas for the new product when it comes to market.
Perceptual map is a graphic technique that helps marketers get a visual
display of customer or potential customer perception. The position of a displayed
product or brand relative to our competitors. Cognitive maps are often used to
help organizations categorize positioning strategies.
Perception maps are useful for figuring out the strengths and weaknesses
of a company's other products. In addition, it helps to realize a competitive advantage for the product.
Below, our team will create a perceptual map for new Pizza 4ps product
ideas based on analysis of other produce brands including: L'Antica Pizza, Pizza
4U, Italiani's Pizza, Carpaccio, Basta Hiro, Pizza Pendolasco, The Long@Times Square Pizza, Pizza 4P's.
In that map, we shall partition four quadrants to assess conceptions and
shall be predicated upon two pivotal characteristics: Price and product quality of brand other pizza.
The reason we chose these two attributes to evaluate and locate new ideas
is that when customers choose or use organically grown products, they will
always consider cost, effectiveness, and efficiency. As a result of the product, we
will sketch a map to see the gaps in price and product quality to launch a suitable
new product. We then researched the prices and read all the customer reviews for
the quality of the products so that we were able to accurately score each brand attribute.
Table 1. Perceptual Map for new Pizza 4P’s product ideas PRODUCT NAME PRICE PRODUCT QUALITY L'Antica Pizza 500,000 = 10 8 Carpaccio 450,000 = 9 7
The Long@Times Square 400,000 = 8 5 Pizza Pizza Pendolasco 350,000 = 7 6 Basta Hiro 300,000 = 6 4 Italiani's Pizza 250,000 = 5 7 Pizza 4U 200,000 = 4 5 Pizza 4P's 150,000 = 3 6
And from this scoreboard, we'll outline it on the map with the scale for
each attribute from 0-10 points. After sketching the Perceptual map, we will
analyze Pizza 4P's innovation opportunities as follows:
Image 1. Perceptual mapping
As we can see on the map, all firms have certain segmentation positions for
themselves. As L'Antica Pizzato claims to be the leader in terms of product
quality and price, they believe that price goes hand in hand with quantity. Next is
the mid-high segment including brands: Carpaccio, The Long @ Times Square
Pizza, Pizza Pendolasco, Basta Hiro. And finally, the middle segment includes
brands such as: Italiani’s pizza, Pizza 4U, Pizza 4ps. However, looking at this
average area, one can see that Pizza 4ps is lagging behind Italianni’s pizza or
Pizza 4u. Therefore, in order for Pizza 4ps to compete with those firms, Pizza 4ps
needs to be in the red circle area that we have zoned on the map. Because only
when Pizza 4ps is in this red circle can Pizza 4ps compete on price and gain
market share and customers of these firms. And to do that, this time Pizza 4ps
will have to launch new products with improved quality but still have to keep the
same price or maybe change the price up a bit. With the goal of positioning new
products in such a new area, our team discussed and had unique ideas for Pizza 4ps new products as follows: 1. Customizable Pizza Builder 2. Pizza with chocolate sauce
3. Miniature Size of Pizza for kids