Tam Vi Restaurant's entry into the Singapore market | Môn Marketing quốc tế - Đại học Kinh Tế Quốc Dân

lOMoAR cPSD| 59691467 _____ _____
FINAL REPORT
SUBJECT: INTERNATIONAL MARKETING
Topic: Tam Vi Restaurant's entry into the Singapore market
Class: Marketing Management 63F
Implementation team: Group 7
Teacher: Mr. Tran Viet An Group Member No. Student ID Full Name 1 11216055 Vu Minh Tu 2 11215571 Le Minh Thu 3 11210996 Le Minh Chau 4 11213728 Vu Thi Quynh Mai 5 11216391 Phung Thi Tra My 6 Nguyen Thanh Duy H a Noi, 2023 lOMoAR cPSD| 59691467 TABLE OF CONTENTS lOMoAR cPSD| 59691467 1. INTRODUCTION
In the project, my group chose Tam Vi - a traditional Vietnam cuisine restaurant for the
Singapore market. Through research, our team has looked into internal and external
factors of Tam Vi in order to find out Tam Vi’s insight, food and service as well as the
business’s potential to penetrate Singapore.
Regarding opportunities, Tam Vi is a high-end restaurant in Vietnam with a growing
food market. With international integration, Vietnam also has chances to invest in
Vietnamese food abroad which has increased rapidly over the past few years. Not only
that, there is a huge number of Vietnamese communities all over the world and
Singapore, leading to effective cultural diffusion. Regarding the Singapore market, the
environmental, economic, legal, and policy factors are very good, creating many
favorable conditions for foreign businesses, which is also one of the great opportunities
for Tam Vi. Besides opportunities, Tam Vi also has to face many challenges. When
entering an international country, cultural barriers are always one of the challenges for
brands. Singapore is a country with diverse cultures and this makes it even more
difficult for Tam Vi to understand this market. Not only cultural challenges, but
Singapore also has strict laws and policies on the environment, food safety, and foreign
workers. The challenge from competitors who already have a high market share and a
great brand reputation in the market is also a challenge for Tam Vi. This is the reason
why exporting Tam Vi to Singapore should focus on differentiation strategy and
positioning in Singapore as a high-end traditional Vietnamese food restaurant.
Through above brand positioning when exporting, the project proposed some objectives
in the first year. Tam Vi in Singapore will target to capture 5% market share in the
Vietnamese food market and increase brand image with 90% Vietnamese people living
in Singapore, 3% Singaporean. Our target customer group consists of two main groups:
Families and Vietnamese people with over 2,000 SGD/month (from Intermediate
middle class). Our marketing strategy is based on the marketing mix, which includes
the product, price, place, promotion, people, process and physical evidence. We will
differentiate products with outstanding traditional Vietnamese meals and the
combination between Vietnamese and Singaporean meals with valuebased pricing
methods. We are planning to do our promotion by implementing advertising, direct
marketing, price discount, and communication.
2. INTERNAL ANALYSIS & EXTERNAL ANALYSIS 2.1. INTERNAL ANALYSIS
• About Tam Vi
“Tam Vi” means completeness, no excess, no shortage in flavor. Just enough fresh
ingredients from the early market, just enough of the thoughtfulness of the hand of the person blowing the rice.
Tam Vi opened in 2019 by Ms. Mai Anh. The restaurant specializes in traditional
Vietnamese cuisine, prepared with fresh ingredients and traditional methods. In 2023, lOMoAR cPSD| 59691467
Tam Vi was awarded one Michelin star, becoming one of the first Vietnamese
restaurants to be recognized for the excellence of Vietnamese cuisine.
o Vision: Everyone has a different definition of home-cooked meals - not only
because the flavors vary from region to region, but also because of the cook,
the setting, and the feelings and emotions attached to their own memories.
o Mission: With Tam Vi, we want to share with you our own memories of home-cooked meals.
o Product Portfolio (In Vietnam) Meals Trung Bac meal Huu Thanh meal Nam Phong meal 739.000 VND 700.000 VND 998.000 VND Additional dishes Appetizers Main dishes Desserts - Fried pork fat with - Ginger/Jasmine Soup fishsauce - Braised Chinese - Coconut Lotus Water - Shrimp and Meat Meat Flute Roll - Tofu with Onions - Banana Flower - Roasted Shrimp ChickenSalad and - Banana Flower Pig Pork Belly Ear - Eggs with Meat Salad - Charred Roasted - Grapefruit Shrimp Meat- Sweet and Sour Salad Stirfried Ribs - Braised - Pork Ribs in Tomato Carp Sauce (with raw - Boiled Pork Belly vegetables) (dipped in shrimp sauce) - Dried Mango - Lolot Grilled Pork Shrimp lOMoAR cPSD| 59691467 Salad - Stir-fried Bamboo - Water Morning Glory Shoots with Beef Salad with Beef - Tofu with Meat andMushroom - Stir-fried Luffa Sproutswith Chicken Hearts - Fried Chicken Wings with Fish Sauce - Fried Eggs - Crispy Fried Perch- Stir-fried gizzard with pineapple - Stir-fried Goose Garlicwith Beef (seasonal) - Stir-fried Noodles with Pickles - Hoa Thien Ly Stir- fried Beef (seasonal)
Price from 78,000 VND to Price from 55,000 VND Price from 40,000 VND to 189,000 VND. to 192,000 VND. 45,000 VND.
• Tam Vi's Resources o Financial: Tam Vi is a privately held company, so its
financial information is not publicly available. However, the company has been
growing rapidly in recent years, and it has secured significant funding from both investors and lenders.
o Supply chain: Tam Vi owns 100% of processing technology, transporting and
distribution to consumers. Such 100% autonomy in the supply chain is a good
opportunity when Tam Vi can be proactive in its business.
o Manufacturing: Tam Vi's food is equipped with many modern equipment and
machines, has HACCP certification - a process that ensures food safety and
hygiene standards, with the goal of ensuring the safety of food. Ensuring the
supply of quality products, serving the domestic market and meeting export demand. o Marketing: -
The quintessence of traditional Northern culinary of Vietnam. The menu
changes according to the season, with the outstanding meals: Trung Bac
meal, Huu Thanh meal, Nam Phong meal. It also includes main dishes,
appetizers, desserts, extra dishes, soup and drinks. The combination of
flavors of each region in Vietnam which is classified into Traditional dishes,
Regional specialty, Creative dishes to reserve and honor elegance and high-
quality of Vietnamese cuisine. lOMoAR cPSD| 59691467 -
The dishes on the menu at Tam Vi Restaurant are priced higher than the
average Vietnamese eatery, with an average price of 100,000 to 300,000
VND per dish, or about 350,000 to 400,000 VND/ person per meal. The
prices at Tam Vi are slightly higher than other Vietnamese restaurants.
However, many customers have commented that the quality is well worth
the price. Every dish on the menu is fresh, flavorful, and balanced between
salty and sweet, appealing to not only Vietnamese palates but also international diners. -
Tam Vi Restaurant is located in the heart of Hanoi - the capital city in
Vietnam: Yen The street, Ba Dinh district, Hanoi. This ensures that the
restaurant is accessible to a wide range of customers, including both locals
and tourists, international diners. Tam Vi Restaurant has a modern and
stylish ambience. The restaurant's décor is inspired by Vietnamese culture,
and it features a variety of seating options, including indoor and outdoor
seating. This creates a welcoming and inviting atmosphere for customers. -
Tam Vi Restaurant has a strong presence on social media, including
Facebook and Instagram. The restaurant uses these platforms to share
photos and videos of its food, ambience and cuisine's stories. o Degree of
internationalization and oversea experience: Tam Vi has never exported to
the international market. However, with available resources, Tam Vi is
building an export plan to gradually increase, with the goal of expanding
markets and increasing revenue. o Type of industry: F&B o Internationalization goals -
Tam Vi aspires to be a restaurant specialized in export of high quality
Vietnamese cuisine, with the ambition to continually grow the market sustainable development. -
Tam Vi aspires to build a Vietnamese brand with class and quality reflected
in every product, progressively establishing itself in the worldwide market.
Since then, Vietnamese cuisine and brands have grown in popularity.
→ Conclusion: Tam Vi is a Vietnamese restaurant with a strong presence in the
domestic market. The company has a number of resources that can support its
internationalization goals, including a strong financial position, a vertically integrated
supply chain, and a modern manufacturing facility. Tam Vi's food is also high quality
and reasonably priced. The company's marketing strategy is focused on promoting the
quintessence of traditional Northern Vietnamese cuisine. Tam Vi's restaurant is located
in a convenient location and has a modern and stylish ambience. The company also has
a strong presence on social media. Tam Vi has never exported to the international
market, but it is building an export plan. The company's internationalization goals are
to become a restaurant specialized in the export of highquality Vietnamese cuisine and
to build a Vietnamese brand with class and quality reflected in every product. Overall,
Tam Vi is a well-positioned company with a number of resources that can support its
internationalization goals. The company's focus on high-quality food and its strong
brand reputation are key assets that can help it to succeed in the international market. lOMoAR cPSD| 59691467
 Tam Vi's Customer Group o Age: The majority of Tam Vi's customers are between the ages of 25 and 45.
o Gender: Tam Vi has a diverse customer base.
o Income level: Tam Vi's customers are typically middle-class or uppermiddle- class.
o Occupation: Tam Vi's customers come from a variety of occupations,
including professionals, business people, and students.
o Education level: Tam Vi's customers are typically college-educated or higher.
o Interests: Tam Vi's customers are interested in Vietnamese culture and food. o Additional insights:
- Many of Tam Vi's customers are repeat customers who appreciate the
quality of the food and the service.
- Tam Vi is a popular destination for families and groups of friends.
- Tam Vi also attracts a number of international tourists, who are drawn
to the restaurant's authentic Vietnamese cuisine.
→ Conclusion: Overall, Tam Vi restaurant attracts a diverse customer base that is
interested in authentic Vietnamese cuisine and a warm and inviting atmosphere.
2.2. EXTERNAL ANALYSIS (HOME COUNTRY: VIETNAM) •
Political/Legal Factors o Vietnam is a country with a stable political system and a market-oriented economy.
o The Vietnamese government is committed to improving the investment and
business environment to attract foreign direct investment (FDI).
o Vietnam is a member of many free trade agreements (FTAs), which create
opportunities for businesses to export. •
Economic Factors o Vietnam is a developing economy with a stable GDP
growth rate over the past years.
o The income of Vietnamese people is increasing, leading to a growing demand
for food consumption. o Vietnam's economy is diversified, creating
conditions for F&B businesses to develop.
o Economic integration: Economic integration has helped to expand the export
market for Vietnamese F&B businesses. •
Cultural Factors o Vietnam has a rich and diverse culture with many unique
traditional dishes. o Vietnamese people have a high habit of eating out. o The
consumption of healthy and environmentally friendly food is becoming increasingly popular. lOMoAR cPSD| 59691467 •
Government Policies o Tax incentives: The Vietnamese government has issued
many tax incentives for businesses operating in the export sector, such as reduced
import duties on raw materials, tax exemptions for corporate income tax, etc.
These policies help export businesses reduce production and business costs,
increasing their competitiveness.
o Trade promotion support: The Vietnamese government has implemented
many programs to support export businesses to participate in trade fairs,
exhibitions, organize business delegations to survey the market, etc. These
programs help export businesses reach the market, find potential customers.
o Financial support: The Vietnamese government has provided preferential
loan sources for export businesses, such as loans from the Social Policy Bank,
the Vietnam Development Bank, etc. These sources of capital help export
businesses have financial resources to invest, expand production, and business.
o Human resource development support: The Vietnamese government has
implemented many training and development programs for human resources
for export businesses, such as training on import and export procedures,
foreign languages, etc. These programs help export businesses improve the
capacity and level of the staff.
o Market information support: The Vietnamese government has provided
market information for export businesses, such as information about the
consumer market, prices, consumption trends, etc. This information helps
export businesses make the right business decisions.
→ Conclusion: Vietnam has provided favorable conditions for F&B businesses to
expand both nationally and internationally, with a growing economy, a rich culture, and
supportive government policies. 2.3. SWOT ANALYSIS Strengths Weaknesses - Rated 1 Michelin star
- The price is high: Compared to the - High quality food
common ground of Vietnamese rice
- Diverse menu up to 100 dishes restaurants.
- Luxurious, unique, ancient space - Location limit: There is only
onerestaurant facility located in Hanoi. - Conflicting opinions about
therestaurant’s quality, especially about the quality of service. lOMoAR cPSD| 59691467 Opportunities Threats -
Growing Vietnamese food market. -
Unstable operating and material - Interestment in Vietnamese
costs.- Difficulty in controlling and
foodabroad has increased rapidly over
managing the quality of raw food the past few years. materials. - Huge number of -
Wide range of F&B competitors
Vietnamesecommunities all over the in themarket. world. -
Changing customers’ preferences. - Taking advantage of new food
trendsand the development of tourism.
→ Unique selling point: Differentiation.
The differentiation about quality of Vietnamese cuisine with the purpose of providing
high-quality service and solving the people’s need. Besides, based on the opportunity
about the unique culinary Vietnamese culture as well as the challenge about the
difficulty in controlling and managing the quality of raw food materials, exporting Tam
Vi to Singapore should focus on differentiation strategy.
3. INTERNATIONAL MARKET SELECTION (IMS) 3.1. IMS
• The strength of the Vietnamese food range
Tam Vi has the unique selling point of the local traditional cuisine. The restaurant
has a number of strengths that would make it attractive to international customers, including:
o Authentic Vietnamese cuisine: Tam Vi serves authentic Vietnamese cuisine
from all three regions of Vietnam. This is a major selling point, as Vietnamese
cuisine is becoming increasingly popular around the world.
o High-quality food: High-quality ingredients and traditional cooking methods
to prepare the food. This is evident in the restaurant's Michelin Guide rating.
o Warm and inviting atmosphere: Tam Vi serves a warm and inviting
atmosphere that is perfect for families and friends. The restaurant's traditional
Vietnamese décor creates a unique and authentic dining experience.
• Factors considering
o Market size and growth potential: Focus on markets with a large and growing
population, as this will provide the restaurant with a larger customer base. o
Market attractiveness: Target markets where there is a strong demand for
Vietnamese cuisine and where there is limited competition from other
Vietnamese restaurants. o Market similarity: Markets that are similar to
Vietnam in terms of culture and consumer preferences. This will make it lOMoAR cPSD| 59691467
easier for the restaurant to adapt its menu and marketing strategy to the local market.
o Company resources and capabilities: Consider its own resources and
capabilities when selecting international markets. The restaurant should start
with a small number of markets and gradually expand as it gains more experience and resources.
• Specific international markets
When researching the potential market for Tam Vi, go through the SWOT analysis of
Tam Vi’s Brand and focusing on some specific international markets that Tam Vi could consider: o America -
United States: The United States has a large and growing Vietnamese
population, as well as a strong interest in Vietnamese cuisine. There are a
number of major cities in the US with large Vietnamese communities,
such as Los Angeles, San Francisco, and Houston. -
Canada: Canada also has a large Vietnamese population, as well as a
growing interest in Vietnamese cuisine. Some major Canadian cities with
large Vietnamese communities include Toronto, Vancouver, and Montreal. o Oceania -
Australia: Australia has a large and growing Asian population, including
a significant Vietnamese population. There is also a strong interest in
Vietnamese cuisine in Australia. Some major Australian cities with large
Vietnamese communities include Sydney, Melbourne, and Brisbane. o Asian -
Singapore: Singapore is a melting pot of cultures, and Vietnamese cuisine
is very popular in the country. Singapore is also a major financial and
business center, which would make it a good market for Tam Vi to expand into. -
Thailand: Thai's culture is quite similar to Vietnam. Thailand is another
country with a large and growing Vietnamese population. There is also a
strong interest in Vietnamese cuisine in Thailand. Some major Thai cities
with large Vietnamese communities such as Bangkok and Chiang Mai.
• Reason to choose
o Taste of Food: The main tastes of Tam Vi's food are salty, sweet, sour, and
chilly which are suitable with Asian tastes. Therefore, we can consider some
Asian countries to export: Singapore and ThaiLand.
o Price: In more detail, Tam Vi is positioned as a high-end traditional food
brand with high prices. Therefore, a country with high income like Singapore will be more suitable. lOMoAR cPSD| 59691467
o Quality of Product: Tam Vi has focused on high quality clean products and
achieved 1 Michelin star so it will be suitable with the country that especially
pays attention to cleanliness and sustainable development. Therefore,
Singapore is the best choice for Tam Vi to be exported because Singapore is
considered as one of the cleanest countries in the world and they really care about their health.
o Singapore: Most of Singapore's residents are Asian. The number of
Vietnamese living in Singapore currently is about 10.000. It will reduce the
risk of this company when first exporting because there are quite a large
Vietnamese who will be their target customers living there.
3.2. SUMMARY COMPARISON
Tam Vi’s products and Singapore market share some similar features: •
Tam Vi: Traditional Northern-Vietnamese daily family dishes o
Taste: Salty, sweety, sour, chilly which are suitable with Asian taste. o
Target customers: Families, high-income people who love and miss the
taste of traditional home foods but they are too busy to prepare a meal having
full types of dishes. o Price: Quite high compared with other traditional
restaurant in Vietnam o Positioning: High-quality product o
Decoration: Traditional, luxurious, vintage, antique vibe •
Singapore market: Southeast Asian country o
Most of Singapore's residents are Asian. The number of Vietnamese living
in Singapore currently is about 10.000. o Standard of Living: High standard of
living, high average income o Singaporean’s taste of food is similar to Vietnamese’s.
4. ENVIRONMENTAL ANALYSIS(HOST COUNTRY: SINGAPORE)
• Political/ legal factors
o The country enjoys the lowest political risk in the continent (The Political
And Economic Risk Consultancy (PERC) affirms) o The value of free
speech for the parties is limited that political comments don't lead to costly
defamation suits or imprisonment
o E-commerce program was launched in 1996, aim to develop the ecommerce
services and create initiatives lOMoAR cPSD| 59691467
• Socio-cultural factors
o Singapore’s food and beverage (F&B) industry is a diverse and dynamic
sector that encompasses a wide range of cuisines and food concepts.
• Economic factors
o The annual nominal GDP (gross domestic product) of Singapore was $644
billion, and it’s the 22nd highest in the world. The country’s per-capita
income is the highest in ASEAN.
o A vibrant free-market economy, is developing at a very fast pace o The
government has invested in diversifying the economy. One of the main
reasons behind the success is ít strategic geographic location.
o Cheaper labor costs from neighboring countries helps Singapore save a lot of costs.
• Government Policies
o Tax incentives: Singapore’s tax system is viewed as “simple and investor
friendly”. The highest corporate tax rate on taxable income is 17%. The tax
on capital gains and dividend income is 0%. No withholding tax is levied on
post-tax dividends paid from Singapore. Equally important, all
foreignsourced income is tax exempt as long as the income has been
subjected to tax in a country with a headline tax rate of at least 15%.
o Trade promotion support: Singapore allows free import of food supplies and
products but as a country reputed for food safety and hygiene, it has strict
regulatory regimes to ensure the safety of food and food supplies that are
being imported into the country. o Financial support:
- On 15 March 2023, the Government of Singapore raised the minimum
investment required for foreign investors who seek permanent resident (PR) status.
- Investment (Foreign Direct Investment - FDI) Singapore considers taking
advantage of foreign investment capital for economic development as a
national policy, so Singapore is one of the countries with an investment
legal framework that is considered to be the most open in the world.
→ Conclusion: Overall, Singapore is a promising market for the Tam Vi to export to.
There are a lot of similarities between Tam Vi and the Singapore F&B market mentioned
above. Not only that, Political/legal, economic, and cultural factors are all creating
favorable conditions for the foreign company. lOMoAR cPSD| 59691467 5. COMPETITOR ANALYSIS
• Segmentation Cuisine Singapore’s Vietnamese’s Other traditional traditional cuisine traditional cuisine cuisine Restaurant Odette Burnt Little Viet Long Thevar Hashida Ends Nam Phụng Price High High Low Low Medium High Detailed ~ $300 ~$200 ~$50 ~$80 ~$170 ~$230 Price Service Excellent Good Good Good Good Good Space Luxurious Cosy Cosy Cosy Cosy Cosy
Location ChinaTown QueensTow Katong Katong Near Near n ChinaTown ChinaTown Rating 4.5 4.5 3.5 4.0 4.5 4.5 Target People People People People People People Customer who like who like who like who like who like who like
Singaporea Singaporea Vietname Vietname Tamil Japanese n cuisine n cuisine se cuisine se cuisine cuisine cuisine • Competitor
o Direct competitors (traditional Vietnamese cuisine restaurants): In general,
Vietnamese cuisine restaurants in Singapore are rated at 3.5-4.0/5.0
(according to Trapadvisor) and have an accessible price compared to other food cultures in Singapore.
o Indirect competitors: These restaurants have higher prices than Vietnamese
cuisine restaurants but at the same time their ratings are also better and
uniform at 4.5 (according to Trapadvisor)
• Positioning Map (Rating + Price) lOMoAR cPSD| 59691467
→ Conclusion: Positioning in Singapore is a high-end traditional Vietnamese food restaurant.
6. MARKETING OBJECTIVES IN SINGAPORE (In the first year) •
Business objective o Cooperate and successfully open 1 flagship store in
Singapore - capital of Singapore. o
Maintain initial revenue at break even. o Capture 5%
market share in the Vietnamese food market. •
Marketing objective o 90% Vietnamese people living in Singapore know Tam
Vi, about 150.000 Singaporean (about 3%) know Tam Vi. o Almost everyone
knows Tam Vi as a traditional Vietnamese food restaurant with high quality. o Increase brand presence •
Communication objective o Motivating 90% Vietnamese living in Singapore
and Singaporeans to try Tam Vi. o
Spreading the Vietnamese brand of quality and delicious
food. o Create interest in target customers. 7. MARKET ENTRY PLAN
7.1. ENTRY MODE STRATEGY
• Direct export lOMoAR cPSD| 59691467
Singapore has long been a preeminent destination for setting up a regional headquarters
and other foreign company structures to pursue business opportunities across ASEAN
and Asia. The country’s status as a preferred investment destination in Asia can be
attributed to its legal and tax regimes – one of the most business and investor-friendly
in the world – as well as its financial system, which is highly integrated with
international financial markets.
This business landscape has enabled international investors to take advantage of
Singapore’s access to some of the largest combined free trade areas through ASEAN,
which include ASEAN-China, ASEAN-Hong Kong, and the ASEAN-India free trade agreements (FTAs).
o Robust Economy: With a strong and stable economy, Singapore offers a
favorable investment climate. It boasts consistent GDP growth, a competitive
business environment, and a well-developed financial sector.
o Ease of Doing Business: Consistently ranks among the top countries in ease
of doing business indices. Its efficient regulatory framework, transparent
legal system, and supportive government policies make it an attractive
destination for investors. o Political Stability: Enjoys political stability, with
a reliable and transparent government that promotes business-friendly
policies, upholds the rule of law, and provides a secure environment for investment.
• Partnership o Ingredients/ Food: -
Imported directly from Vietnam -
Buy from local suppliers: Vietnam Food, Foodasia, Fairprice
Group,… o Delivery companies: Having partners as a logistics company will
make it easier for Tam Vi to transport raw materials, equipment and products
to Singapore.There are a few of the many Logistic companies in Singapore:
DB Schenker, Singapore Post, DHL, UPS Shipping, FedEx, DTDC
ECommerce, Yusen, Aramex Third Party, Uparcel, Blue Dart,...
o Food delivery apps: Popular food delivery apps in Singapore include
Deliveroo, Grabfood, FoodPanda, Pickupp,…
• Target Customer o Families and
Vietnamese people o Age range: 25 - 59 years old
o Income: Intermediate middle class, Upper middle class, Upper class (over
2,000 SGD/month) o Geography: Near
ChinaTown area, Singapore o Psychology:
- Missing traditional Vietnamese cuisine.
- Demand to eat traditional dishes with sophisticated and high quality.
- Looking forward to connecting with Vietnamese culture and community.
- People who enjoy rich and salty flavors. o Behavior:
- Searching for Vietnamese food places.
- Eating at restaurants with quality food, ensuring food hygiene and safety. lOMoAR cPSD| 59691467
7.2. DEVELOPING THE INTERNATIONAL MARKETING MIX (7Ps)
Regarding the current international market, decision-making concerning the
international marketing mix has become essential, especially when this arrangement has
a high influence on its international performance. Thus, Singapore is much different
from Vietnam in political, legal, economic, and environmental aspects. Therefore,
marketing strategies are really important for Tam Vi to succeed in Singapore.
Considering all the factors, Tam Vi should focus on adaptation. Adaptation involves
modifying a product and its strategy from home country to host country to meet the
local requirements. Some specific types of modification are suggested such as: •
Promotional adaptation: This involves changing methods of advertising and
media choice. For example, young people mostly use Instagram, Tiktok and
Telegram while Vietnamese use Facebook, Instagram and Tiktok. Therefore, it
will drive in different channels from Vietnam. •
Price adaptation: This involves changing the price of Tam Vi as the currency in
Singapore is different from Vietnam, not to mention the cost of manufacturing, taxes, …
In short, it is crucial to carefully consider all the factors that will affect the adaptation
of Tam Vi into the Singaporean market because it will help to minimize the risk and
make suitable plans for a successful expansion into a new market. • Product
Tam Vi will approach the Singapore market by keeping the traditional Vietnamese flavors
and focusing on the main product is rice trays meal. o Vietnamese traditional food -
Focus on the outstanding meals: Trung Bac meal, Huu Thanh meal, Nam
Phong meal. It also includes main dishes, appetizers, desserts, extra dishes, soup and drinks. -
All dishes retain the traditional flavors of Vietnamese cuisine so that
customers can enjoy the closest experience to a Vietnamese meal.
o Vietnameses x Singaporean meal and additional Singporean dishes -
Vietnamese x Singaporean meal: Vietnamese green papaya salad with
shrimp and pork, Vietnamese-style nasi lemak, Laksa Singapore,
Vietnamese green bean soup, Tea,... -
Additional Singaporean dishes: Using Singaporean ingredients and
traditional spices such as sea foods, curry,... -
The dishes still follow the traditional "home-cooked" orientation. • Place
With the Singapore market, Tam Vi will focus on two main distributions:
o Restaurant: Near ChinaTown area, Singapore
o Website: Consumption via online channels is especially high in Singapore. In
general, more than 50% of the world’s smartphones are located in the Asia
Pacific region, which opens a way of introducing new and innovative
marketing channels; and this is certainly the case in Singapore. 4/5th of the
population (all age groups) is connected to the internet. Taking advantage of lOMoAR cPSD| 59691467
this, Tam Vi also needs to promote the distribution channel on the website's
online platform to promote customer buying behavior and build a convenient
and satisfying shopping experience for customers.
o Food delivery apps: As mentioned above, consumption through online
channels in Singapore is very high. Therefore, this is also one of the potential
channels Tam Vi can exploit to compete with other competitors. Popular food
delivery apps in Singapore include Deliveroo, Grabfood, FoodPanda, Pickupp, etc. • Price o Price objectives -
Penetrating the Singaporean market quickly and effectively and capturing the market share. -
Being affordable for mid-income to high-income level people. -
Competing with existing competitors such as Odette, Burnt Ends, Little Viet Nam, Long Phụng,... -
Minimize the risks to survive in this new market o Cost estimation Registration
The cost of registering a business is about $5, while the
registration fee is around $300 – $1,200 for foreigners and $50 – $600 for locals.
Location/Rental The rental rates in Singapore constantly increase. Licenses
Tam Vi is listed under the Food and Beverage industry, with a
few licensing requirements and a fee of around $200. Renovation
a ndThe lighting, decorations, furniture, and flooring can incur Aesthetics
high costs, estimated to be around $40,000 for a 1,000 sq ft cafe. Staff High labor cost.
o Competitors analyzing: Some direct competitors existing in the market such
as Odette, Burnt Ends, Little Viet Nam, Long Phụng,... have a range from low to high price o Pricing method -
Tam Vi could use a Value-based pricing method. This would involve setting
prices based on the value that Tam Vi's food and service provides to customers. -
Start with a competitive price: When Tam Vi first enters the Singapore
market, they should start with a competitive price. This will help them to
attract customers and build brand awareness. -
Offer discounts and promotions: Tam Vi can offer discounts and
promotions to attract new customers and encourage repeat business. lOMoAR cPSD| 59691467 -
Use dynamic pricing: Tam Vi can use dynamic pricing to adjust their prices
based on demand. For example, they can charge higher prices during peak
hours or during special events. -
Bundle products: Tam Vi can bundle products together to offer customers a
better value. For example, they can offer a meal deal that includes a main
course, a side dish, and a drink.
o Final pricing: Suitable for middle to high income level. The price will range
from 150 - 180 SGD/pax (1 SGD ~ 18.000 VND). • Promotion
Dual adaptation will be used. Besides products being adapted for local needs, this strategy
allows for the adaptation of the promotional effort both to target new customer segments
and to appeal to the particular tastes of Singapore. o Advertising -
The posters are placed strategically, near offices, universities, gas
stations,... meaning where your target audience is most likely to be, then
this form of advertising can offer a nice return on investment. -
In February 2022, 92% of the total population used the Internet in
Singapore. Therefore, posting ads on the various social media platforms
such as Facebook, Twitter, Instagram, on the website and food delivery
apps will help increase sales as well as drive more traffic to the website. o Social media -
Create official accounts on social networks to easily carry out branding
activities, build credibility and attract customers. While Facebook focuses
on the elderly, Instagram and Tiktok accounts are for mainly the younger. -
Utilize the popularity of TikTok platforms to reach more new customers. o Events -
Tam Vi with a show on Tet holiday: This will be held to introduce traditional
Vietnamese music and Vietnamese culture. Coming to the restaurant,
customers both enjoy Vietnamese cuisine and are presented with something as souvenirs. -
Launch a campaign with the title “Tam Vi - family gathering”. In this event,
Tam Vi will offer a discount program for customers. This event not only
conveys Tam Vi's message about family reunion, but also aims to attract
people to participate to increase their interest and desire for food. o Public relations -
Booking KOLs, KOCs for reviewing food and sharing about campaign
“Tam Vi family gathering” experiences. -
PR articles: Introduce Vietnamese culture, cuisine and promote the flavor
with warm space and transmit the message about the connection to targeted customers. lOMoAR cPSD| 59691467
o Sales promotion - Price discount -
The price will be discounted on special occasions in a year, on customers’
birthday,... or when customers buy some products at the same time. Besides,
on Vietnamese traditional holidays, Vietnamese exchange students and
Vietnamese people living and working in Singapore will receive special discounts. -
Coupons and gifts: Giving coupons and gifts to loyal customers or to
customers reaching a certain order value. For those who buy online through
apps and websites, they will get e-vouchers. -
Giveaway: Giving Vietnamese souvenirs (Keychains, Stamps,...)
• People o Employees: Tam Vi will need to hire employees who are qualified and
experienced in Vietnamese cuisine and customer service. It is also important to
hire employees who are fluent in English and Chinese, as these are the two main
languages spoken in Singapore. - Hire qualified and experienced employees
- Provide training and development opportunities -
Create a positive work environment
o Customers: Tam Vi's target market in Singapore will likely be people who are
interested in Vietnamese cuisine. This could include people of Vietnamese
descent, as well as people from other cultures who are interested in trying new foods.
- Understand the needs and wants of customers -
Build relationships with customers
o Partners: Tam Vi may also want to partner with other businesses in Singapore,
such as food delivery services and catering companies. This can help Tam Vi
to reach a wider audience and grow its business. • Process
The food delivery process is strictly censored, starting from processing and cooking to
packaging with environmental protection packaging and delivering to a reputable carrier
through delivery partners. Payment system is also used for QR code, Cards and Cash for
banking and paying food in Tam Vi.
• Physical Evidence
o Material facilities: The space is airy and designed in a traditional style. The
interior is made from natural wood, combined with rustic and casual decoration
materials, creating a cozy and close feeling.
o The main color: Brown is the color of natural wood, which is used mainly in
the interior design of restaurants. The brown color offers a cozy, close and
friendly feel, in line with the traditional style of the restaurant. In addition to
brown, Tam Vi restaurant also uses other colors such as yellow, red, and green
to create accents. o Eating utensils: -
Bowls and plates are made of high-quality ceramics, with elegant colors, simple textures. lOMoAR cPSD| 59691467 -
Edible chopsticks are made from bamboo or ebony wood, ensuring
durability and safety for health. -
Singapore is a country that attaches great importance to environmental
protection. Therefore, to be able to score points in the eyes of users, Tam Vi
will increase the use of paper materials for the products. Besides, Tam Vi
will also change its packaging according to special days in Singapore such as Lunar New Year,...
7.3. IMC PLAN (3 months)
• Customer Insight
“I have trouble balancing my time with my family. Most of my time is used for
self-development purposes (work, relaxation,...). But family plays an important
role in everyone's life and I always want to have meaningful moments with my
loved ones. Build up family love from the simplest things - a family meal.”
• Tam Vi’s Role
Providing meals with a family imprint - ' just like home ' from fresh ingredients,
in a warm, gathering atmosphere. • Big Idea Strengthen Family Bonds.
• Deployment Plan Customer Awareness Consideration Decision Advocacy Journey Desired Acknowledge Arouse the Choose Tam Satisfied - become Response Tam Vi curiousnes Vi loyal - recommend s Tam Vi Tam Vi Phase Introduce Engage Amplify Time 5 weeks 3 weeks 4 weeks
Objectives Raise the target Maximize customer Convert customers
audience's awareness interaction and and reinforce their about Tam Vi and increase customers’ positive attitude attract potential interest towards Tam Vi customers