ESSAY MARKETING PRINCIPLE ANALYZE TH TRUE MILK MARKETING STRATEGY IN VIETNAM MARKET AND PROPOSE
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UNIVERSITY OF FINANCIAL – MARKETING
MARKETING MAJOR
----------
ESSAY
MARKETING PRINCIPLE
ANALYZE TH TRUE MILK MARKETING STRATEGY IN
VIETNAM MARKET AND PROPOSE
Teacher: Diệp Long Phú
Member: Nguyễn Đông Bảo Châu
Trần Xuân Thống
Cao Mỹ Nhi
Nguyễn Văn Lắm
Class:
CLC_20DMA03
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TABLE OF CONTEN
PART 1: THE THEORETICAL BASIS OF “TH TRUE MILK MARKETING
STRATEGY IN THE VIETNAMESE MARKET” FROM 2010 TO 2020...............2
I.
The marketing environment............................................................................2
II.
The STP strategy............................................................................................5
III. Marketing mix (4P)........................................................................................5
4.
Promotion:...................................................................................................... 6
IV. Recommendation............................................................................................7
PART 2: STATUS OF THE MARKETING STRATEGY OF TH TRUE MILK
BRAND IN VIETNAM MARKET 2010-2020.........................................................8
I.
INTRODUCTION..........................................................................................8
TH True Milk Company.....................................................................................8
Mision and vision statement:..............................................................................9
Production Process:...........................................................................................10
Business activities:............................................................................................10
The founder:...................................................................................................... 11
Products:........................................................................................................... 12
II.
MARKETING ENVIRORNMENT:.............................................................13
MICRO MARKEITNG ENVIRONMENT:......................................................13
a)
Climate:...............................................................................................13
b)
Customer:............................................................................................ 13
c)
Collaborator:........................................................................................ 13
d)
Competitor:.......................................................................................... 17
e)
Company:............................................................................................19
MARCO MARKETING ENVIRONMENT:....................................................21
a)
Political:..............................................................................................21
b)
Economic:............................................................................................22
c)
Sociocultural (social):..........................................................................22
d)
Technological:.....................................................................................22
III. STP MARKETING:.....................................................................................23
SEGMENTATION:...........................................................................................23
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a)
Demographic:......................................................................................23
b)
Psychographic:....................................................................................23
c)
Behavioral:..........................................................................................24
TARGETING:...................................................................................................24
POSITIONING:................................................................................................25
IV. MARKETING MIX (4P):.............................................................................26
The "real" story hits the consumer's mind.........................................................26
PRODUCTS:.................................................................................................... 27
a)
Core benefits:......................................................................................27
b)
Basic product:......................................................................................27
c)
Expected product:................................................................................28
d)
Potential products:...............................................................................29
PRICE:.............................................................................................................. 29
a)
Pricing:................................................................................................29
b)
Pricing strategy:...................................................................................30
PLACE:............................................................................................................ 30
PROMOTION:................................................................................................. 32
V.
a)
Message:.............................................................................................. 32
b)
Measurement: Preemptive Claim (The Laws of Mind):......................32
c)
PR:....................................................................................................... 33
d)
Sale promotion:...................................................................................34
RECOMMENDATION:...............................................................................35
VI. REFERENCE............................................................................................... 36
VII. CƠNG VIỆC VÀ ĐĨNG GĨP CỦA TỪNG THÀNH VIÊN TRONG
NHĨM................................................................................................................. 38
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ESSAY.MARKETING.PRINCIPLE.ANALYZE.TH.TRUE.MILK.MARKETING.STRATEGY.IN.VIETNAM.MARKET.AND.PROPOSEESSAY.MARKETING.PRINCIPLE.ANALYZE.TH.TRUE.MILK.MARKETING.STRATEGY.IN.VIETNAM.MARKET.AND.PROPOSEESSAY.MARKETING.PRINCIPLE.ANALYZE.TH.TRUE.MILK.MARKETING.STRATEGY.IN.VIETNAM.MARKET.AND.PROPOSEESSAY.MARKETING.PRINCIPLE.ANALYZE.TH.TRUE.MILK.MARKETING.STRATEGY.IN.VIETNAM.MARKET.AND.PROPOSEESSAY.MARKETING.PRINCIPLE.ANALYZE.TH.TRUE.MILK.MARKETING.STRATEGY.IN.VIETNAM.MARKET.AND.PROPOSEESSAY.MARKETING.PRINCIPLE.ANALYZE.TH.TRUE.MILK.MARKETING.STRATEGY.IN.VIETNAM.MARKET.AND.PROPOSEESSAY.MARKETING.PRINCIPLE.ANALYZE.TH.TRUE.MILK.MARKETING.STRATEGY.IN.VIETNAM.MARKET.AND.PROPOSEESSAY.MARKETING.PRINCIPLE.ANALYZE.TH.TRUE.MILK.MARKETING.STRATEGY.IN.VIETNAM.MARKET.AND.PROPOSE
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PART 1: THE THEORETICAL BASIS OF “TH TRUE MILK
MARKETING STRATEGY IN THE VIETNAMESE
MARKET” FROM 2010 TO 2020
I.
The marketing environment
1. Macro Marketing Environment
The macro-environment includes the broad features that affect the market
and marketing activities as well as the factors of the microenvironment.
Affecting directly or indirectly the business operations of the enterprise as
well as the customers purchasing behaviors.
Affecting big businesses.
a) Environmental:
-
Consist of: climate, terrain, natural resources and other factors
-
Natural factors affect businesses’ marketing activities
-
Prioritized the human habitat problems
b) Sociocultural (social):
-
Consist of: traditions, culture, customs, practices, religion, etc. These factors
have big impact on the customers buying behaviours.
-
Businesses need to find solutions in order to adapt to these national identities
c) Population:
-
Population size, population structure (age, sex, population growth rate and
population distribution, ...)
-
These population size and structure will be used directly in the business
markeitng strategy
-
With the development of urbanization, business should always renew their
methods, technologies and marketing plans
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d) Economic:
-
Economic growth, inflation, unenployment, interest rate, etc.
-
Economic organizations influence on the market
-
Provision problems and demarketing
e) Technological:
-
Technology science develops consistently, it affects the marketing mix (4P)
-
Businesses should always observe and renew technology so that efficiency
and maximum quality can be achieved to compete with other businesses in
the market
f) Political:
-
Political stability, political structure, adminstration, laga; regulation
2. Micro Marketing Environment
-
The micro marketing environment are the factors that affect directly the
company and its ability to meet customer needs
-
These factors are divided into 2 groups: external and internal
a) Internal factors
Normally companies are organized with a functional paradigm:
-
Finance – Accounting
-
Labour management
-
Production mangement
-
Research and development
-
Marketing
The marketing department is responsible for drafting marketing plans
and programs
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Departments have different goals to pursue, that’s why each
department's goal is never the same as the others
In order to reach a consensus with a high rate, the marketing
department needs to make marketing decisions on condition that thay
are subjected to the company’s substraints such as motto, goals,
strategies, etc.
b) External factors
-
Company, organization
-
Business environment
-
Competitor
-
Collaborator
-
Customer
II.
The STP strategy
1. S: Segmentation
-
Divide larger market into groups of people with similar demands and
respond similarly to marketing stimuli
-
Seek within-group sameness (homogeneity) and between-group difference
heterogeneity)
-
Following 4 categories:
Gepgraphic
Demographic
Psychographic
Behavioral
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2. T: Targeting
-
The process of selecting the segment to serve
-
The firm’s goals and strengths must fit with the needs of the segment
3. P: Positioning
Create clear, distinctive, and desirable place relative to competing products
in mind of target customer
III. Marketing mix (4P)
1. Product:
-
Core benefits: The fundamental need or want that consumers satisfy by
consuming the product or service
-
Basic product: A version of the product containing only those attributes or
characteristics absolutely necessary for it to function
-
Expected product: The set of attributes or characteristics that buyers
normally expect and agree to when they purchase a product
-
Augmented product: The inclusion of additional features, benefits,
attributes or related services that serve to differentiate the product from its
competitors
-
Potential product: This includes all the augmentations and transformations
a product might undergo in the future. To ensure future customer loyalty, a
business must aim to surprise and delight customers in the future by continuing
to augment products.
2. Price:
- Pricing: As the term is used in economics and finance, this is the act of
establishing a value for a product or service. In other words, pricing occurs
when a business decides how much a customer must pay for a product or
service.
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-
Pricing strategy: A pricing strategy takes into account segments, ability to
pay, market conditions, competitor actions, trade margins and input costs,
amongst others. It is targeted at the defined customers and against
competitors.
3. Place:
The process of moving products from the producer to the intended user is
called place. In other words, it is how your product is bought and where it is
bought. This movement could be through a combination of intermediaries
such as distributors, wholesalers and retailers.
4. Promotion:
Includes all activities that involve communicating with the customer about
the product and its benefits and features. This includes raising awareness
through different mediums to increase sales, as well as to create and foster
brand loyalty.
- Message
- Measurement
- PR
- Sale promotion
IV. Recommendation
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PART 2: STATUS OF THE MARKETING STRATEGY OF
TH TRUE MILK BRAND IN VIETNAM MARKET 20102020
I.
INTRODUCTION
TH True Milk Company
- Although TH True Milk’s dairy products have just been lauched on
December 26, 2012, so far they have gained many admirable achievements,
received lots of high praises for their milk quality by using foreign
technological technique and becoming a worthy competitor against other
long-standing dairy brand. What helps this dairy company achieve so many
rapid successes in the Vietnamese dairy market?
-
TH True Milk Company, all so known as TH Milk Food Joint Stock
Company, belongs to TH Group. The enterprise was established under the
financial advice of Bac A Commercial Joint Stock Bank. Entering the
Vietnamese market since 2010, the company always aims to produce the
most authentic "fresh milk" products.
-
For only 12 years, TH True Milk has achieved many proud achievements. In
2013, the company inaugurated a clean fresh milk factory with a capacity of
500,000 tons/year. Dairy cows are raised according to high technology
standards, with more than 45,000 cows carefully selected from New Zealand,
Australia, Canada, etc.
-
During following years, TH won the love and trust from consumers and local
governments at different levels. TH Group was rewarded with many prizes:
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“Viet Nam’s High-Quality Product” prize for three consecutive years of
2012, 2013 and 2014
“Reliable Supplier in Viet Nam 2011”
“Prestige Brand”
“Agriculture Enterprise applying High-tech”
“National Golden Quality Prize 2013”
“Trusted Brand” by National Quality Assurance Agency
Mision and vision statement:
a) Mission:
-
With the spirit of being close to nature, TH Group has put all its effort to
nutrify Vietnamese people body and soul by providing food products derived
from nature which are clean, safe, fresh, delicious and nutritious.
b) Vision:
-
The TH Group aims to become Vietnam’s leading manufacturer of farm
product. Nowadays TH cluster is that the second-ranked farm manufacturer,
behind Vinamilk JSC, in Vietnam. The core of the strategy of the cluster is
anchored within the conception of “True Milk” or “True natural Milk” (thật
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sự thiên nhiên), i.e. it doesn't use powder milk for process. The corporate is
pleased with the actual fact that: All product area unit made up of “fresh
clean pure milk” created within the TH industrial farm (Hoàn toàn tư sữa
tươi nguyên chất của trang trại TH) For this reason, all the product area unit
oversubscribed below the complete “TH True Milk”.
Production Process:
-
Desire to bring fresh, clean, delicious and nutritious dairy products to
vietnamese consumers. TH recognizes the quality of milk as an important
factor in production and development. By applying the world's end-to-end
technologies into the entire closed production process TH’s products always
ensure the criteria of freshness, keep the essence of nature intact and meet
international material standards.
Bu
sin
ess
activities:
-
The company has introduced to the market more than 70 products on the
basis of fresh milk. The company is always aiming for the path of clean fresh
milk products, clean food, and clean drinks.
-
According to retail measurement data of the whole market in November
2018, TH True Milk milk grew by nearly 22% in volume and 30% in
revenue. Up to now, TH True Milk's market share in the fresh milk segment
in urban retail channels has reached 40%.
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ESSAY.MARKETING.PRINCIPLE.ANALYZE.TH.TRUE.MILK.MARKETING.STRATEGY.IN.VIETNAM.MARKET.AND.PROPOSEESSAY.MARKETING.PRINCIPLE.ANALYZE.TH.TRUE.MILK.MARKETING.STRATEGY.IN.VIETNAM.MARKET.AND.PROPOSEESSAY.MARKETING.PRINCIPLE.ANALYZE.TH.TRUE.MILK.MARKETING.STRATEGY.IN.VIETNAM.MARKET.AND.PROPOSEESSAY.MARKETING.PRINCIPLE.ANALYZE.TH.TRUE.MILK.MARKETING.STRATEGY.IN.VIETNAM.MARKET.AND.PROPOSEESSAY.MARKETING.PRINCIPLE.ANALYZE.TH.TRUE.MILK.MARKETING.STRATEGY.IN.VIETNAM.MARKET.AND.PROPOSEESSAY.MARKETING.PRINCIPLE.ANALYZE.TH.TRUE.MILK.MARKETING.STRATEGY.IN.VIETNAM.MARKET.AND.PROPOSEESSAY.MARKETING.PRINCIPLE.ANALYZE.TH.TRUE.MILK.MARKETING.STRATEGY.IN.VIETNAM.MARKET.AND.PROPOSEESSAY.MARKETING.PRINCIPLE.ANALYZE.TH.TRUE.MILK.MARKETING.STRATEGY.IN.VIETNAM.MARKET.AND.PROPOSE
-
Since 2017, TH True Milk Company has made leaps and bounds in business.
Net profit in 2017 was 319 billion VND, in 2018 it was 450 billion dong.
Within 5 years from 2014 to 2018, TH's net profit increased 15 times.
-
In 2018, TH Company reached the revenue milestone of more than 7,000
billion VND, faster than the roadmap set by the leadership. This achievement
was achieved thanks to the outstanding growth of fresh milk products. After
only 10 years, the amount of milk in the country increased significantly,
helping to reduce the number of imported powdered milk to be reconstituted
from 92% in 2008 to more than 60% at the present time.
-
On January 31, 2018, TH True Milk Company inaugurated the first highyielding dairy farm in Moscow, Russia. This is a project within the
framework of the complex of dairy farming, high-tech milk processing and a
number of food projects with a total investment capital of up to 2.7 billion
USD of the company in the Russian Federation.
The founder:
-
The founder and Chairman of the Board of Directors of TH Dairy Foods
Joint Stock Company is Ms. Thai Huong - Top 50 most powerful
businesswomen in Asia. Ms. Huong is the leader and driver of TH Milk Food
Joint Stock Company to achieve the success it is today.
-
However, she decided to step back behind the scenes to work as a consultant
for the enterprise's business activities after more than 10 years of working.
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Products:
-
Milk products: UHT fresh milk, pasteurized milk, formula fresh milk Th
Topkid, TH True yogurt, TH True nut
-
TH True Butter, TH True Cheese
-
Beverage: TH True Rice, TH True juice, TH True juice milk
-
TH True Water
-
Food: Japonica FVF rice, NASU sugar
-
Ice cream
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II.
MARKETING ENVIRORNMENT:
MICRO MARKEITNG ENVIRONMENT:
a) Climate:
- Distributor: TH Dairy Joint Stock Company and TH Transport Joint Stock
Company
- Retailer: We can easily find TH's products at stores, agents, big retail systems
such as Co.opmart, Big C, Maximart, etc. There are also separate retail
systems called TH True Mart. This system promotes the user about the
quality of the item as well as their own style. There is also a hand-delivery
service to consumers at TH True Mart.
b) Customer:
-
TH's customers are families with young children with moderate or higher
income. In addition, it is also aimed at young people who like natural
products, aged from 15 to 25.
-
TH is under a lot of pressure from customers:
Price pressure: customers always want to buy cheap but good quality
products
Quality pressure: customers want quality products, especially pasteurized
products such as milk
c) Collaborator:
Collaboration with HAGL: Why HAGL brand?
-
Becoming a leader in agriculture filed as farm sugar cane, rubber.
-
70% cost of cow farm is food for cows, HAGL able to use sub-productions
through sugar-cane farm and corn
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