Acecook vietnam group assignment company swot analysis productservice swot analysis

Group 3 MKT1709 Group Assignment
Marketing Principles (MKT101)


ACECOOK VIETNAM
____Group assignment - MKT101____

Group 3: 1. Lê Việt Hà - HS163422
2.
Nguyễn Thị Ánh Nguyệt - HS163364
3.
Nguyễn Hoàng Yến - HS163372
4.
Phạm Thị Ngọc - HS160842
5.
Triệu Thị Thanh Xuân - HS163503
6.
Đinh Minh Chiến - HE140704

Lecturer: Trịnh Trọng Hùng

1


Table of contents

1. Table of contents

2

2. Executive summary

3

3. Company description, mission, vision, focus

3

4. Situation analysis
a. Company SWOT analysis

5

b. Product/service SWOT analysis

5

c. Competitive analysis

7

d. Customer analysis

11

5. Marketing analysis
a. Market and target customer

10

b. Differential/competitive advantage

12

c. Marketing objectives

13

d. Overall marketing strategy (the sales plan)

13

i Product strategy and Description

13

ii. Pricing strategy

13

iii. Promotion strategy

14

iv. Place/distribution strategy

14

6. Recommendation

15

2


2. Executive summary
Analysis report on Acecook Vietnam.
The opening is the description, mission, focus, structure of Acecook Vietnam
company; The company was established in 1993, As a long-standing enterprise,
Acecook Vietnam has created a strong name and position for its products in the
market, instant noodle products have become familiar to customers with
Vietnamese consumers.
The second part includes the company's SWOT analysis and SWOT analysis
of products/services, competitive analysis and company customer analysis.
The third part is the analysis of the company's marketing, it includes the market
and target customer, the company's competitive advantage over the competition,
and its marketing objectives. And finally, the overall marketing strategy or sales
plan. It includes product description strategies, pricing strategies, advertising
strategies, and location/distribution strategies.

3. Company description, mission, vision, focus
❖

Introduction

Acecook Vietnam Joint Stock Company was founded on December 15, 1993, and has been
operative since 1995. Over the years, the manufacturer has developed to become a significant
general company. Leading with a powerful market position in Vietnam, specializing in highquality, nutrient-dense quick foods.

- Acecook Vietnam has built a world of culinary culture with convenient foods,
delicious quality, food safety, and hygiene, and brought rich experiences to consumers

in Vietnam and around the world since its inception, with the spirit of regularly creating
and challenging new things to make products that bring joy to customers on the basis of
"Japanese technology, Vietnamese taste."
- With the goal of becoming a number one food corporation not only in Vietnam but
also reaching bent on the entire world, Acecook Vietnam is committed within the future
to continue researching and bringing to the market diverse products with, higher quality,
more delicious, creating a culinary culture to satisfy the increasing culinary needs of
shoppers and contribute to the event of the food industry in Vietnam.
The head office is located at Lot II-3, Road 11, Tan Binh Industrial Park, Tay Thanh Ward,
Tan Phu District, Ho Chi Minh City. Acecook Vietnam now, after 20 years of establishment, has
owned 06 production factories, 700 agents spread across the country, accounting for 60% of the
domestic instant noodles market share.

3


❖

History of formation and development process

• In 1993, Vifon Acecook Joint Venture was established – the predecessor of Acecook
company.
• In 1995, the company announced and distributed the first product in Ho Chi Minh
City. The first product is high-class instant noodles and pho, produced to serve the
southern market.
• In 1996, Acecook Vietnam Corporation entered the US export market and
established a new branch in Can Tho, responsible for sales to all provinces in the
Mekong Delta.
• By 1999, Acecook Vietnam achieved the title of high quality Vietnamese goods. At
the same time, won gold, silver and bronze medals in the Vietnam industrial goods fair.

• In 2000, Hao Hao noodle product was introduced to the market and quickly achieved
a breakthrough.
• In 2003, Acecook Vietnam group completed the system stretching from North to
South, providing more value to the community.
• In 2004, the company officially changed its name to Acecook Vietnam Co., Ltd. and
moved the factory to Tan Binh Industrial Park.
• In 2008, it officially changed its name to Acecook Vietnam Joint Stock Company. At
the same time, officially became a member of the world MAL association.
• By 2010, the company was honored to receive the First Class Labor Medal.
• Since then, Acecook Vietnam has constantly developed and provided many quality
and safe products for all consumers.

❖

Vision
To become a leading manufacturer of foodstuffs in Vietnam whose
management capacity is commensurate with globalization.

❖
●
●
●

Mission
Satisfy consumers' demands
Bring happy life and sustainable growth to employees
Attain a strong position and supports in over the world.
Based on this mission, Acecook Vietnam always puts the top priority on product
quality, while supporting the communication of correct and scientific information
about instant noodle products to create safety and peace of mind for customer. In

recent years, Acecook Vietnam has focused on products for health, both to meet
the new needs of consumers and to increase the value of instant noodles.

❖

Focus

4


Bringing happiness to everyone through deliciousness, peace of mind and
satisfaction is our mission. This is the guiding guideline for the whole process
of creating products at Acecook: selecting the freshest ingredients, keeping
strict quality control standards and constantly researching to create unique
flavors – novelty - full of Vietnamese taste.

4. Situational analysis

a. SWOT analysis of the company
Strengths:
●
Diversify products, have differences between products, have a
combination of tradition and modernity.
●
Modern technology, advanced production line.
●
Having strong financial potential and being invested by foreign
companies, the company has strong competitiveness in the market, creating a wellknown brand name for a long time.
●
Product flavor is suitable for Vietnamese cuisine

●
Have a good relationship with the media.
Weakness:
●
The product has no difference from the general market.
●
The advertising strategy is not really attractive and has not yet made a
special mark in the subconscious of consumers.
●
Haven't made a stand out in the high-end market share.
Opportunities:
●
The market for instant noodles is growing well.
●
Great market potential.
●
Has a wide distribution channel.
●
Consumers are increasingly concerned about the quality of products
and above all, their own health.
●
The sophistication of customers' needs is increasing, they need
something new, strange, and aesthetic.
Threats:
●
The economy is still in crisis.
●
Many strong competitors.
●
The price of input materials increased sharply.

b. SWOT analysis of Hao Hao Noodles:
Strengths:
●
Has wide coverage, is well known and popular for many years.
●
Is a convenient product, international quality (manufactured according to
Japanese technology)
●
In particular, the flavor of Hao Hao noodles with sour and spicy shrimp is
suitable for Vietnamese taste and is loved so the consumption of noodles is very large.
●

There are attractive promotions, prices suitable for everyone's income.

5


●
●

High foreign investment capital, strong operation.
Bank credit rating is quite high.

Weakness:
●
In general, there is no obvious innovation in the product compared to
other similar product lines currently available on the instant noodle market.
●
If aiming for low-priced instant noodles, Hao Hao noodles are still

considered to have higher prices.
●
But compared to instant noodles in the high-priced segment, Hao Hao in
general has a design that is not really eye-catching, and there is little change in
packaging over the years in the market.
●
Hao Hao's advertising has not been invested heavily.
●
The nutritional value of the product is not high
-

Opportunities:

●
Hao Hao chooses very wide distribution channels (distributed in the form
of groceries everywhere, easy to reach consumers, or distributed to large and small
supermarkets in residential areas or urban / city). great.
●
The Vietnamese market in the instant noodle industry has grown year by
year very well, the consumption volume and consumer demand are increasing day by
day.
●
Potential market attracts companies to enter the market.
●
Consumers are increasingly concerned about product quality and above
all, their own health.
Threats:
●
Vietnam joins the world economic organizations, this means that the tax
rate will be reduced, consumer tastes will be affected by imported instant noodles.

●
Competitors regularly launch new ads that catch up with trends and hit
the target customers with the same segment.
●
The competition is fiercer than ever because there are so many rival
companies appearing in the market
●
Faced with counterfeit products that affect the product's brand image.

-

c. Competitive analysis

Domestic market :
Compare products with other competitors:

6


❖
Strengths of brands
●
Acecook :
+
Acecook has a diverse and rich set of products, meeting the current
consumption needs of consumers.
+
Short, easy-to-remember trademarks "Good", impressing consumers.
+
Japanese standard instant noodle products, international standard control process.

Each product is tested according to international standard food safety and hygiene procedures
before being packaged to consumers.

+
The taste of Hao Hao noodles with sour and spicy shrimp is suitable for the
taste of Vietnamese people, and is loved, so the consumption of noodles is very large.
● Omachi noodles (Massan company)
+
High price group (5000-6000vnd) high-priced instant noodle products are gradually
occupying an important position in the entire instant noodle market.

+
Omachi is a strong brand in the instant noodle market in Vietnam. With new
Japanese technology (processing noodles from potatoes), especially has left an
impression in the hearts of Vietnamese consumers with the message "delicious without
fear of heat". On the other hand, Omachi invests a lot in advertising. , beautiful
packaging, diverse products, dense distribution channels in stores, supermarkets...
+
So even though Omachi's price is higher than the price of Hao Hao noodles,
when the product was first launched on the market, Omachi already had a large number
of customers.
+
Extensive distribution and agent system: Currently, Omachi products are
distributed together with Chinsu products' system.

● 3 Mien noodles (Product of UNIBEN company)
+
The company has a product strategy with 3 goals of diversifying products,
providing high quality products to serve consumers with reasonable prices with the
income of Vietnamese consumers.

+
Each type of product has an eye-catching and easy-to-recognize label and
packaging, and a variety of products.
+
The packaging design and brand are bold with tradition and familiar taste.
+
“3 Mien Noodles” is recognized by many users as having brought the taste of
Vietnamese cuisine into them to create values that are loved by many users love it and
want to stick with it for a long time.
+
Dense distribution channels in stores and supermarkets

❖

Weakness :
● Acecook :
- In general, there is no obvious innovation in the product compared to other
similar product lines currently available on the instant noodle market.
- Compared to instant noodles in the high-priced segment, Hao Hao generally
7


has an eye-catching design, and there is little change in packaging over the
years in the market, in addition, Hao Hao's advertising has not been
invested heavily.
● Omachi Noodles:
Causing some skepticism among consumers when it announced that omachi
noodles were made from potato fibers, but the company itself did not disclose the
percentage of potatoes in 1 cup of noodles. This can be called an act of quizzing
customers

Omachi noodles are more expensive than Hao Hao, the market is not as open
as Hao Hao noodles (rural areas and students are not the target customers of Omachi)
Omachi's promotion strategy "not afraid of heat" is almost only initially trusted
by customers because many customers commented that eating omachi noodles is still
hot, and do not believe in using Omachi anymore. Right after Omachi's message, Hao
Hao gave birth to Hao Hao green beans with added green bean essence, nutritious and
not afraid of heat.

● 3 Mien noodles :
The company's new products priced at the same price as Massan's Omachi
are considered by consumers as superior products compared to other types of noodles,
while UNIBEN's noodles are viewed by people as an average product that has a high
level of quality, expensive.
The popularity of the product is high but the market share is still insignificant
compared to other players in the instant noodle market.
❖

Company potential :
Strength : ● Acecook :

- Large consumer market.
- Good quality inspection system, product promotion and product distribution
- Professional sales team
- Acecook Vietnam continues to be listed in the top 1 "The most chosen instant
noodle manufacturer" in Vietnam.
- Acecook Vietnam currently has nearly 6,000 employees, working in two office
groups and office manufacturing. The company has 06 branches and 11
factories all over Vietnam. Every year, the company serves nearly 3 billion
instant noodle products and exports Vietnamese-flavored products such as
noodles, vermicelli, pho, instant noodles to more than 35 countries

worldwide, contributing to the development of the country's culinary culture
● Omachi Noodles:
Strong and reputable brand in the market, holding a high market share across
the country. Having clear goals and orientations, owning 3 leading food brands in
Vietnam.
8


-

Diversifying product categories

Net the company's distribution network is very strong, including: 5 distribution
centers around the country, with 162 exclusive distributors and 1,628 professional sales
staff at 164,000 points of sale nationwide.
The management team is trained, highly qualified, experienced with the
executive board who have worked in multinational companies.

● 3 Mien noodles:
Thanks to comprehensive investment to improve the quality and quality of
products, Uniben's brands always "keep their style" when pioneering 3 Mien noodles
with a rich juice package; added meat is one of the brands. been chosen by Vietnamese
consumers to buy a lot continuously from 2015 to now with a market share of over
27.5%.
Has clear goals and orientations, ranks in the top of fast-moving consumer
goods.
With 28 years of experience in the noodle industry For more than 10 years in
the condiments and beverage industry, the goal of becoming an enterprise leading the
trend of products that are beneficial to consumers' health has been and is being
supported by Uniben - a well-trained and qualified management team. High level of

expertise, experience with the management board who have worked in multinational
companies.
Owns a cooperative distribution system of over 250 agents, 1,000
supermarkets and 150,000 stores nationwide

❖
-

Weakness :
● Acecook :
Inventory control activities are not tight
Personnel are not highly qualified. Difficulty in debt recovery
Market segmentation of dealers is unclear.
Unstable distribution system, channel members still contradictory
The policies for members in the distribution channel are not attractive

● Omachi Noodles:
The source of input materials is unstable, depending on a number of domestic
and foreign raw material suppliers.
Business is on the rise, so Massan does not fully focus on instant noodles
products
Difficult to compete brand name with instant noodles products at established
companies Information about product quality from world advertising Public presentation
goes against the actual quality, causing loss of consumer confidence

● 3 Mien Noodles:

9

-

d.

Company finance is limited, leading to limited investment in marketing strategy.
High cost of sales activities make the company have modest profit

Customer analysis

- Usage habits:
+
Consumers are interested in many factors such as convenience, nutritional
value of the product, design, packaging... Besides, depending on the region, there will
be different tastes. For example, people in the North tend to use noodles with a frugal
taste, harmonious in spices, and people in the South prefer a more sour taste.
-Target group, age:
+
Using instant noodles has become an indispensable habit of Vietnamese
people with the consumption of 1-3 packs/person/week.
+
Mainly students, students, consumers in rural areas account for a larger
proportion than in cities
- Personal factors:
+
Younger customers love eye-catching color products and like to experiment
with new things, while older customers do not like to be fussy about colors. On the
contrary, they prefer simplicity and are less persuaded to buy by promotions. Therefore,
the product packaging color design, as well as product taste will be affected by different
ages.
+

The different income levels depending on the occupational group will affect the
choice of the price of the product. High-income customer groups often do not care much
about price. They put the top priority on product quality, nutrition and convenience. While
for customers with lower income, price is a particularly important factor

5. Marketing analysis
a. Market and target customer
Target customers: Marketing strategy of Hao Hao noodles to achieve success
definitely needs to come up with a specific campaign towards target customers.
Because this is the key to making Hao Hao Noodles used by many people.
Students are the biggest target customers of Hao Hao noodles, in addition to
children, housewives and office workers, consumers in rural areas account for a
larger proportion than in cities. Therefore, in order to penetrate the potential market
and earn great profits, Hao Hao noodles need to offer a price that is suitable for
the pocket of the target customer.

10


Market
Hao Hao noodles are competing with many competitors to gain market share in
the market. Competitors of Hao Hao Noodles can be classified into the following
3 groups: low-end, mid-level and high-end. Some typical competitors of Hao Hao
noodles are: Omachi noodles, Tien Vua noodles, Cung Dinh noodles, ..
Noodles in the low price category
Along with the mid- and high-priced brands, low-priced instant noodles are still
being sold well, especially in the rural market. Vifon is an example. Although
Vifon noodle products are gradually being forgotten in the market, it is still a
fierce competitor for Hao Hao noodles.
Mid-price segment

Tien Vua Noodles do not use oil to fry over and over again with the message
"Protecting the health of the whole family" plus a dense product distribution
system, heavily advertised and at a price comparable to the price of Hao Hao
noodles. Although the product is not as diverse as Hao Hao noodles, but Tien
Vua noodles are gradually dominating the noodle market and it is really a strong
competitor to Hao Hao noodles.

Competitors with high price segment
Omachi invests a lot in advertising, beautiful packaging, diverse products, dense
distribution channels in stores, supermarkets... So although Omachi's price is
higher than Hao Hao's, when the product is first launched on the market, Omachi
already has a large number of customers. However, because Omachi noodles are
more expensive than Hao Hao noodles, the market is not as wide open as Hao
Hao noodles
Market share:
Hao Hao Noodles: Holding 35.4% market share in volume and 36% in revenue.
Omachi noodles: Holding 27.9% market share
Vifon noodles: Vifon currently holds about 5.4% market share of instant
noodles. However, with the segment of instant rice-based products, Vifon's
market share accounts for 50%.
Tien Vua Noodles: Holding 26.5% market share

b. Differential/competitive advantage
- Quality:
11


+
Formed in 1993, after more than 20 years of development, Acecook Vietnam has built a
solid success on the basis of modern Japanese technology production with automatic and closed

production process. and meet the management standards of ISO 9001: 2008, ISO 14001:2004,
HACCP, IFS, BRC. Entering a new stage of development, Hao Hao Noodles is always
committed to bringing quality meals to consumers, safety for employees and sharing community
values with society.

+ Hao Hao Noodles is the first type of instant noodles in Vietnam that meets food
standards international products.
- Price:
For the main product, Hao Hao instant noodles cost from 3,500 VND to 5,000
VND, so it is the first choice of customers.
- Innovation:
+ Hao Hao Noodles is always at the forefront of research and boldly investing in
technology new to production. To improve product quality, Hao Hao noodles have
advanced equipment and production lines from Japan with a closed production line,
using modern and automatic equipment and technology. All input materials to finished
products are controlled 24/24 according to international standards of food hygiene and
safety. As the instant noodles near the end of the line, the squeegee has been formed
and transferred into the packing system. Here, raw materials and finished products will
undergo a quantitative weighing system, metal detection system, X-ray machine. This
system will automatically push out the products from the conveyor belt that do not meet
the weight specifications for the most perfect product.

- Customer response:
Hao Hao Noodles pays great attention to satisfying the taste of customers in order
to have the most satisfying products for the Vietnamese people. The culinary
background of Vietnam capital already very rich and sophisticated, people in every
region have a taste to enjoy different. Therefore, if it does not diversify products,
meet demand. It is difficult for each customer group to survive in the long term.
Because of that, almost every year Hao Hao noodles come out with new product
lines. Since then, the name Hao Hao noodles, has been the favorite product of all

families and all walks of life from workers, students to office workers, all
generations of Vietnamese people.

c. Marketing objectives
Continue to expand market share and improve the company's reputation in the
market. Maximize the target audience, quickly promote the decision to
12


buy and use Acecook's Hao Hao instant noodles
Satisfy needs, receive positive feedback, limit negative feedback from
customers about Hao Hao instant noodles products

d.

Overall marketing strategy (sales plan)
Acecook Vietnam is the leading food brand in Vietnam, with a solid
leading position in the market. To achieve this success, Acecook has
implemented effective 4P Marketing strategies.

i. Strategy and product description
●
The product list is diverse and rich. And Acecook Vietnam's core product is
Hao Hao noodles. Since its debut until now, Hao Hao has quickly become popular and become a
familiar symbol for all kinds of instant noodles in Vietnam. The reason for this huge popularity is
because the product is cheap and has a wide variety of flavors.
●
Along with the current pace of life, people also become busy, in a hurry and
have to move often. Grasping this, Acecook immediately launched products that are cup noodles
and bowl noodles, now consumers can enjoy instant noodles anytime, anywhere, meeting all

conditions.
●
Acecook's products all undergo an international standard quality control
process. Before packing to reach consumers, each product is tested according to international
standards of food safety and hygiene.

ii.

Pricing Strategy

●
There are many competing brands in the instant noodle market. To be
able to compete with competitors as well as maintain its No. 01 market share, Acecook
Vietnam has applied a market penetration pricing strategy.
●
The goal of this pricing strategy of Acecook Vietnam is to entice
customers to try new products, increase market share and have a large number of loyal
customers.
●
And this strategy of Acecook Vietnam is absolutely correct because the
target audience is mostly people with normal or low living standards, students, students
or rural areas.

13


●
However, recently Acecook Vietnam has begun to target the higher-end
segment, they have launched high-priced product models packaged in luxury packaging.

iii.

Advertising strategy

●
This brand has advertised its products on TV channels such as HTV7,
HTV9 or radio advertising, etc.
●
Besides, Acecook also advertises products through advertising posters
on busy streets or on websites.
●
One of Acecook Vietnam's most successful marketing campaigns is the
"From Vietnam to the world" campaign in conjunction with the Vietnam U23 team in
2018.
●
Promotions. For example, the program to give away Gift Vouchers for
any trip, Suzuki GSX - R150 motorbike, Phone scratch card,..
●

Social activities:

Acecook also promotes social activities aimed at poor workers such as
the program "Tet reunion" every Tet holiday.

Coordinating and organizing the program of Tet holiday together.
In order to support 2,500 free bus tickets to bring students and people with difficult
circumstances from Ho Chi Minh City to their hometown to celebrate Tet.
Acecook has organized many annual scholarship programs for
the young generation. As of 2020, there have been 5 seasons of scholarships awarded
by Acecook Vietnam to 560 students with difficult circumstances and remarkable

academic achievements across the country.

iv. Location/distribution strategy
●
Acecook currently has more than 11 factories across the country,
operating under a closed and automatic chain system.
●
These Acecook products are marketed and distributed nationwide from
small to large dealers and spread throughout the provinces/cities in Vietnam, each major
city/region has a branch office. such as Hanoi, Ho Chi Minh City, Da Nang, etc.
●
Acecook has created a nationwide marketing and distribution system with more
than 700 tier-one agents spread throughout the country.

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●
With the desire to expand distribution points to provide customers with the best,
Acecook occupies over 95% of retail points nationwide.
●
In addition, Acecook Vietnam Company also promotes consumption and
exports to more than 46 countries and territories around the world.

6.

Recommendation
When building Acecook's Marketing strategy to bring high efficiency, it is
necessary to give some recommendations to overcome the disadvantages of the
Marketing strategy:

-

Strengthening market research:
An important factor to connect consumers with products is potential market research.
Expand the market, reduce costs, increase sales, improve product quality reputation.

-

Brand’s image and slogan
After the 2015 revision, Acecook's image and slogan used here haven't really left
a deep impression or stood out compared to other products on the market.
Maybe consider changing the slogan to make a deep impression on customers

-

Product:
Invest heavily in research to launch new products: building survey forms;
conduct consumer surveys, thereby evaluating, researching and coming up with
new products that are suitable for consumers' tastes.
With the changing needs of customers, it is necessary to continuously bring to
the market new products rich in taste, product quality, increase product volume
and healthy products to satisfy demand of customers.

-

Developing customer care service
Customer service plays a huge role in the success of a product. Therefore, in
order to create a long-term foothold in the hearts of consumers, it is necessary to
develop maximum customer care services to retain customers to use the product

for the longest time.

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