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Pho 24

In: Other Topics

Submitted By hoangzoro89
Words 2787
Pages 12
GROUP 1
MARKETING PLAN
VU THI AI VAN M987Z256

Nguyen Pham Nhut Thien (Tina) M987Z240 NADIA NILA SARI M987Z250

I. Executive Summary. II. Situation analysis in Taiwan.
A. General chain restaurants in Taiwan B. Cuisine of lifestyle

III. SWOT Analysis IV. Marketing strategy
A. B. C. D. Marketing goal Marketing objectives Primary target market Strategy ( 7p )

V. Financial Project. VI. Conclusion & Reference.

I. COMPANY PROFILE
• PHO24 is a Vietnamese noodle restaurant chain belonging to Nam An Group, the biggest F&B Corporation in the Vietnam. • Apart from PHO24, Nam Group owns and operates many other different F&B brands including An Vien, Maxim’s Nam An , Thanh Nien, An , Goody , Goody‐ Plus , Bamizon , Ibox Café , etc. • The first PHO24 outlet was opened in June 2003. • PHO24 has opened 73 outlets in : Ho Chi Minh City, Ha Noi, Da Nang, Vung Tau, Nha Trang, Binh Duong, Jakarta (Indonesia), Manila (Philippines), Seoul (Korea), Phnom Penh (Cambodia) and Hong Kong . • In 2004, 2005, 2006 & 2007, PHO24 has been consecutively the winner of The Guide Awards voted by readers of Vietnam Economics Times, Thoi Bao Kinh Te Viet Nam and Tu Van Tieu Dung magazine. • In 2010, PHO24 is one of the top 10 "Ho Chi Minh City – One Hundred Excitements" which voted by travelers

History the name
The number 24 is meaningful for Pho 24 1. Pho 24 locations open 24 hours. 2. Pho 24 also uses a total of 24 ingredients and spices in its pho broth 3. Diligently stewed for 24 hours before it is served. 4. The 24 ingredients plus the thorough preparation process ensures that the pho broth at Pho 24 has a rich and sumptuous flavor, according to the company. 5. The broth recipe is the same in all Pho 24 locations, as is expected for any food franchise. So wherever Pho 24 takes its pho dishes, you should get the same rich flavor and taste of its pho. This is key to a successful franchise and it’s why the pho experience offered by Pho 24 is fast picking up in worldwide popularity.

BUSSINESS PHILOSOPHY & CONCEPT
• Business Philosophy Everything we do, is based on quality, customer service and integrity. We believe that repeat customers are the lifeblood of our business. We also trust that new customers are valuable energy for our business development. Therefore, we invite our guests to come to any PHO24 outlets with great expectations and to leave with full satisfaction. We only select franchisees that can share and convey our high standards to our customers. • Ideas and Business Concept PHO has been the most famous dish of Vietnam but it was only known as street food for many decades. Therefore, the founders of PHO24 saw this is an excellent opportunity to create a new business concept that meets the high standards but still preserving the traditional value. After nearly two years of market research – especially the customer’s taste – PHO24 has invented a unique flavor for PHO’s broth derived from 24 top‐quality ingredients and spices.

The Milestone of the Company
2012 : target to reach 200 outlets total 2010 : target began to open shops in China and Japan. 12/2009 : Franchise stores open at No. 2 South Korea and Hong Kong, bringing its total stores to 73rd (more than 57 stores in the city. HCMC), with 16 stores in foreign countries (Indonesia, Cambodia, Korea, Philippines, and Hong Kong). 8 / 2009 : New franchise agreements in Hong Kong and Macau. Will open its first store in Hong Kong and Macau in October 10/2009 3 / 2009 : Total number of noodle shops in Vietnam and 24 foreign countries has reached number 70 after six years in operation 9 / 2006 : Pho 24 and VinaCapital - the leading financial companies in Vietnam - officially signed a cooperation and investment. 7 / 2005 :Open the first franchise in foreign countries (Jakarta, Indonesia). We have 6 noodle shop in Jakarta on 24 November 2008. 1 / 2005 :Open the first franchise store in Ho Chi Minh district, followed by a few other shops in the major cities of Vietnam like Danang, Nha Trang, Vung Tau, Binh Duong ... 12/2004 :Opens first store in Hanoi, the capital of Vietnam and also the "capital of pho" 6 / 2003 :Opens first store at No. 5 Nguyen cards, district 1, Ho Chi Minh City. Shop quickly became popular destinations for tourists and residents.

INTERNATIONAL BRANCH

Doing Franchise Pho24
Initial Fee: One time payment fee to be made once the franchise contract is signed. This fee might be different from country to country depending on the size and the potential business of that particular territory (city, country or region) can generate. Royalty Fee: Similar to the royalty fee for domestic market. Capital requirement to open a PHO24 outlet in overseas. It depends on what country or city but in general it will be more expensive to open an outlet in overseas compared to the one in Vietnam. The fee is paid monthly on a percentage of sales is.

SUPPORT FOR FRANCHISE
FRANCHISOR WILL SUPPORT: •

• •

• • • •

Assisting with site evaluation, selection and build‐out Advising on the design of the store; equipment and furniture purchase; suppliers arrangement, etc. Providing class‐room and on‐the‐job training for key staff: PHO24 offers its franchisees training programs for not only the start‐up but also the on going stage. The training programs cover all important aspects of the business such as cooking procedures, quality control, store management, etc Providing lists of equipment, suppliers and all other essential items needed for the business. Lending to franchisees the operations manuals Researching and developing new products, equipment and services to increase sales and competitiveness Sharing marketing and promotion materials and other activities

5 IDEAL QUALITIES OF PHO24 FRANCHISEES 1. Have a strong passion about PHO24’s brand, business concept and its products 2. Have an impressive track record of business and management 3. Have sufficient finance and understanding of the F&B business 4. Have excellent local knowledge and ability to find good locations 5. Have strong commitment in developing PHO24 brand all the way to a success story AVAILABLE DEVELOPMENT AREA Asia: Japan, Taiwan, Malaysia, Thailand, Laos, Myama; Europe: France, United Kingdom, Italy, Germany, Belgium, Netherlands, Spain, Russia; North America: United Stated, Canada, Mexico; Oceania: Australia, New Zealand; Middle East: United Arab Emirates

II. Situation Analysis in Taiwan
A. General chain restaurants in Taiwan
The lifestyle of modern people has been changed with the industrial revolution. ”Eat out” is becoming dominant for the masses. Therefore, food service industry is growing prosperously. Business idea, manufacturing process, marketing strategy…etc. are also renovated with the vitality of this industry. Managers of restaurants focused on innovation in order to position themselves in customer’s mind.

Chain restaurants are categorized into 4 categories based on their operating type. There are banquet restaurant, Chinese food restaurant, fast food restaurant, and theme restaurant. Chain restaurants are featured by chain stores and restaurant. Their competitive advantages of chain restaurant are described below : 1. Low cost; 2. Unique product line; 3. Highly standardized product; 4. High quality service; 5. Economies of scale; 6. Faultless logistics; 7. Competitive advantages obtained from vertical integration; 8. Complete operating concept and management strategy; 9. Differentiated operating method; 10. High customer satisfaction; 11. Focus on specific market segment; 12. High brand recognition; 13. Computerized operating process; 14. Perfect personnel system & sufficient human resources; 15. Low initial capital investment, low risk.

There are 358 Fast food restaurants in Taiwan; all of them are regular chains except 20 franchise chains B. Cuisines of lifestyle The Taiwanese have shown their inventiveness in their selection of spices. Taiwanese cuisine relies on an abundant array of seasonings for flavor : soy sauce, rice wine, sesame oil, fermented black beans, pickled daikon, pickled mustard greens, peanuts , chili peppers, cilantro, and a local variety of basil. The resulting dishes thus combine and form interesting tastes which make Taiwanese cuisine simple in format yet complex in experience.

The following is a list of ingredients found in Japanese cuisine: Rice, Beans, Eggs, Flour, Fruits, Fu (wheat gluten) , Meats, Mushrooms, Noodles, Soy products, Vegetables. Many types of Seafood are part of Japanese cuisine. Only the most common are in the list below. Includes freshwater varieties: Seafood , Finned fish, Sea mammals, Shellfish, Crab , Roe, Processed seafood, Seaweed

Thai cuisine is the national cuisine Thailand. Thai cuisine places emphasis on lightly‐prepare of dishes with strong aromatic components. Thai cuisine is known for being spicy. Balance, detail and variety are important to Thai cooking. Thai food is known for its balance of the five fundamental taste senses in each dish or the overall meal: hot (spicy), sour, sweet, salty, and (optional) bitter

Strengthens
Have famous trademark > demonstrate Achieves a lot of success abroad (exist 17 outlets in foreign countries ) easily adapt new environments Having experiences of franchising Hygiene and safety, nutrition of the dish Decoration is clean, beautiful, luxury … The broth recipe is the same in any location of pho24. so customers still enjoy the rich flavor and taste of its pho. This is key to a successful franchise and it’s why the pho experience offered by Pho 24 is fast picking up in worldwide popularity

Weakness
Risky is from the franchisee Several spices should import from Vietnam

Threats
Having many Vietnamese food stores in Taiwan

– Vietnamese food is quite similar Taiwanese food ‐‐‐‐‐>>> easily adapt Taiwan market – Taiwanese like to enjoy culinary from all over the world and have a eagerness to taste culinary from other Asian country besides Taiwan culinary, especially Vietnam culinary – A lot of Taiwanese know about Vietnamese food and like it, especially Taiwanese had lived and worked in Vietnam – A lot of Vietnamese people are living, working and studying in Taiwan

A. MARKETING GOAL
• To be one of most known Vietnamese restaurant in Taiwan that offer delicious pho, health with luxury environment. • Having increase in revenue year by year • Open several branches in different location

B. MARKETING OBJECTIVE
• Achieve revenue of approximately NT$ 158.79 million (per year in year forth) • Open a second restaurant in 2012 and to other location • Received Return On Investment within year four.

TARGET MARKET

Average Disposable Income by Age of Households
Age of Household Heads 65 Disposable income (NTD) 975,266 1,156,922 1,175,298 1,188,807 1,259,509 1,226,475 564,446 Number of Household 473,953 673,735 861,934 1,011,234 2,147,255 1,202,765 1,173,752

Source : The Survey of Family Income and Expenditure, 2008

Population In Taiwan 2009
• 0‐14 years: 16.7% (male 1,996,905/female 1,844,611) • 15‐64 years: 72.6% (male 8,416,300/female 8,267,675) • 65 years and over: 10.7% (male 1,183,382/female 1,265,474)
Source: www.indexmundi.com/Taiwan/Demographics_profile.html

• Enjoy culinary from all over the world and have a eagerness to taste culinary from other Asian country besides Taiwan culinary, especially Vietnam culinary. • They could be Vietnamese who live or stay in Taiwan. • Also other foreigner who study or working in Taipei or tourist who visit Taipei.

PRODUCT
Menu of Pho24 is the same as menu Pho24 in Vietnam. The taste of the noodle will stay the same for all countries because we believe the authentic taste is always the winner. We believe the taste for Taiwanese people is not too tasty, as we saw in some Vietnamese restaurant still have Taiwanese as their customer. Since Pho24 has to have standard taste for all countries, we going to import the spices from Vietnam. But for the process of making the broth for pho will be done in Taiwan kitchen because Pho broth will be careful blends of spices and flavorful ingredients to keep the freshness and good taste that need to be diligently stewed for 24 hours before it is served. Pho 24 also uses a total of 24 ingredients and spices in its pho broth. Pho 24 also focuses on the nutritional aspect of the meal, making sure that a pho dish from Pho 24 has all the important qualities to make a well‐balanced noodle dish. Pho is served deliciously at Pho 24, with the soup carefully blended with the choicest ingredients and the most enticing mix of spices.

MENU Pho24

Nutrition facts

Hamburger (Mc Donald's) 100 250 80 9 25 31 6 12

Pizza (Pizza Hut)

Pho Noodle Soup (Pho 24) 100 51

Serving size (g) Calories Calories From Fat Total Fat (g) Cholesterol (mg) Carbohydrates (g) Sugars (g) Protein (g)

119 300 140 15 30 28 3 12

2.4

14.7 2.3 0.9 4.1

PRICE
For the price here, we will adjust into NT$ ( Taiwan Dollar ) currency. The standard price for a bowl of noodle in Pho 24 is around NT$ 50 – NT$ 200 ( exp. Addition menu : hotpot ). Our price will be moderate. Pho noodles Menu Side Dishes Menu Desserts Menu Fresh Fruit Juice Menu Blended Juice Menu Refreshment Menu Coffee & Tea Menu : NT$ 100 – NT$ 200 : NT$ 12 – NT$ 400 : NT$ 20 – NT$ 50 : NT$ 30 – NT$ 50 : NT$30 – NT$ 60 : NT$ 40 – NT$ 60 : NT$ 50 – NT$ 80

PROMOTION
• • • • Distributing printed flyers with details of menu Give discount 10 % ‐ 20 % ( on holiday ) Join local community events with open counter Pho 24 member card ( Green Card – Gold Card )

PLACE
Pho 24 will rent a place nearly university in Taipei, Section 1, Heping East Rd, Da‐an district Pho24 not only sell delicious noodle but also pay attention on dining environment. We going to rent one place in Taipei and maintains small, clean, and cozy stores with great decorations in an East Asian theme and an appetizing ambience. Pho 24’s customer can enjoy pho in air‐conditioned, comfortable, clean and safe dining rooms with good service; amenities that many people in Vietnam and other Asian countries consider a luxury. Pho 24 also provide Delivery Service.

PLACE

PACKAGING
• Pho24 product will be package as it standard in Vietnam restaurant, the food will be serve as interesting as it can, for example the process of serving a bowl of pho normally starts with pho cake placed in the bowl, then topped with different types of meats being ordered (flank, well‐done steak, brisket, rare steak, tendon, tripe, etc.), and finally, with a large ladle, the steaming broth is poured over both. Once served at the table, the diner adds garnishes such as Thai basil, lime, chili peppers, white and green onions, bean sprouts, and culinary based on personal preference. For a little added kick in flavors, condiments such as hoisin, fish sauce or chili sauces can also be added. Also for the waiters and the worker for Pho24 will be dressed in green uniform as it is reflect the color of Pho24, environment decoration ( as is all the Pho 24 franchise restaurant all over the world ) and the brochure also reflect the color of green as the color of Pho24 which reflect healthiness. If the customer would like to bring the food home, the packaging of he box will interesting. The soup and the noodle will be separate to keep the soup warm.





PEOPLE
For the staff of Pho24, the Franchisor will provide class‐room and on‐the‐job training for key staff: PHO24 offers its franchisees training programs for not only the start‐up but also the on going stage. The training programs cover all important aspects of the business such as cooking procedures, quality control, store management, etc.

POSITIONING
• Provide unique Vietnamese Pho culinary with luxury environment • Pho 24 open 24 hours. • Pho 24 also uses a total of 24 ingredients and spices in its pho broth • Pho24 ingredient diligently stewed for 24 hours before it is served.

V. Financial Projection

Currency: $NT

SET‐UP COST

REVENUE
POTENTIAL CUSTOMER :16,683,975people TARGET MARKET : 5% of the potential customer : 5% x 16,683,975 = 834,198.75 : NTD (100‐120 NT) : NTD 119,301,053 (1st year)

PRICE TOTAL SALES

We predict that the sales will get increased 10% per year.

PROJECTED INCOME STATEMENT

BREAK EVEN ANALYSIS
We use payback period to know how long the period of time that required for the return on an investment to "repay" the sum of the original investment. INITIAL INVESTMENT (SET‐UP COST) • • • • : NTD 30,490,000

NET INCOME 1ST YEAR : NTD 8,967,682.63 NET INCOME 2ND YEAR : NTD 11,133,638.72 NET INCOME 3RD YEAR : NTD 12,991,190.15 NET INCOME 4 TH YEAR :NTD 16,429,496.17

The initial investment will fully paid in 4 years

Reference
• www.pizzahut.com/nutrition.aspx • www.mcdonalds.com/usa/eat/nutrition_info. html Directorate for standards and quality – quality assurance & testing centre 3 • www.pho24.com • http://investtaiwan.nat.gov.tw/matter/show_ eng.jsp…...

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...Case 2 Store 24 Maastricht University, School of Business and Economics Course: Management Control EBC 4154 Introduction Most of the executives of Store24, a New England based convenience store, were gathered for an important meeting to discuss a way to increase store level employees retention. Some of the suggestions were to increase wages and bonuses, training enhancements or career development programs. However, top management lacked sufficient information available that would explained the relationship between manager and crew tenure on store level financial performance. Hence, the purpose of this paper is to shed light on the “employee tenure-store level performance” relationship as well as to discover how managerial skill, service quality and profit are related. 1. The Relationship between Employee Tenure and Operating Performance Before exploring the relationship between store level financial performance and other relevant site factors, it is essential to establish a measure for store level performance. Internal analysis collected sales and profit data for 75 stores. Based on Appendix A, one can conclude that these variables are highly correlated and significant (i.e. r = 0,924, p-value = 0,000) Ultimately, profit is used as a proxy for store level performance, since it takes into account both, the costs as well as the revenues of making the sales. Despite the lack of objective evidence on the importance of employee tenure, Store24 has awarded managers...

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Unit 24

...BTEC Level 3 Extended Diploma in Public Services (Uniformed)Assessment Brief | | Unit Number & Title | Unit 24 – Current and Media Affairs in Public Services | Assessment Title | Magazine review | Assessment No. | 2 | Deadline Date | 15/01/16 | Date Issued | | *Resubmission Date | | Unit Assessor/Tutor | Andy Phillips | Learning Aims/Outcomes covered in this assessment | Learning Outcome 3: Understand how the public services are portrayed in the media Learning Outcome 4: Be able to review current affairs affecting public services | | Scenario / Context of Assessment | As a member of the Public Services the publics perceptions of your conduct is determined by how they are reported in the media which may affect your morale and operational effectiveness. However as a member of the public services you should be aware of how the media can be used as a positive resource | TASK 1- Magazine article (P5, M3 & D2) | Your Task is to create a magazine article that will:Explain how positive and negative images affect public perceptions of the public services. (P5)Analyse how positive and negative images affect public perceptions of the public services. (M3)Evaluate how positive and negative images affect public perceptions of the public services. (D2) You are to explain by using current pictures and newspaper articles,TV shows how each of the public services have been......

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Store 24

... Inference: The R square value of 0.41 signifies a better explanatory power than Ctenure. The p-value 0.0025 lies within a high significance level of 0.05 so the null hypothesis holds and the regression result is significant. So the tenure of a manager is one of the key drivers of store profitability. (D) REGRESSION OF PROFITABILITY WITH LOCATION PARAMETERS Inference: The R square value of 0.95 is very high and signifies that strong fit of points on the regression line. The p-values of all the parameters namely the population within a half mile radius, competitors per 10000 people within that radius, visibility of the store front, pedestrian traffic volume and indicators for 24 hours open or not and location do not lie within significance level of 0.05 so the alternative hypothesis holds and the regression result is insignificant. Hence, on a multivariate basis the factors are not found to be as effective a manager’s tenure. Moreover, multi-co linearity exists which shows the dependence of the factors on one another. For instance, population and pedestrian count are dependent. Also, the visibility of a store front may depend upon its location. Conclusion We can infer from the analysis above that the most relevant factor for the profitability of a store is the tenure of a manager. The tenure of crew member was not found to be a significant factor. The location parameters were also found to be less relevant. ...

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Ch 23 & 24

...500. $550,000 × .01 = $5,500 Ross Corporation makes all sales on account. The June 30th balance sheet balance in its accounts receivable is $400,000, of which $240,000 pertain to sales that were made during June. Budgeted sales for July are $1,250,000. Ross collects 70% of sales in the month of sale; 20% in the following month; and the final 10% in the second month after the sale. Refer to the information above. What is the budgeted balance of Ross's accounts receivable as of July 31? .3($1,250,000) + 1/3($240,000) = $455,000 If the volume of output of a factory for the month of June is 50,000 units, while the budgeted output was 40,000 units: * Actual fixed costs per unit may be expected to exceed budgeted levels. Chapter 24 A total cost variance for materials can be caused by differences in the quantity used or in the price paid but not by both. * False The use of excessive quantities of material in manufacturing a product causes an unfavorable materials quantity variance. * True A variance is said to be unfavorable when actual costs exceed standard costs. * True It is possible for the overhead volume variance to be favorable and the overhead spending variance to be unfavorable. * True Standard costs are established only for direct labor and direct materials. * False The presence of fixed costs in manufacturing overhead causes the actual amount of manufacturing overhead per unit of output to vary depending on the actual production......

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