ESSAY PRINCIPLES OF MARKETING ANALYSIS OF BRAND MARKETING STRATEGY VINAMILK AND RECOMMENTDATION

UNIVERSITY OF FINANCE - MARKETING MARKETING FACULTY - - ESSAY PRINCIPLES OF MARKETING ANALYSIS OF BRAND MARKETING STRATEGY VINAMILK AND RECOMMENTDATION Teacher: Nguyễn Thị Minh Ngọc Students: Lê Ngọc Như _ 2021008512 Phạm Lê Khánh Chi _ 2021008415 Nguyễn Thị Diệu Linh _ 2021008465 Nguyễn Ngọc Xuân An _ 2021008399 Class: CLC_20DMA08 Course code: 2021702032613 Ho Chi Minh City - 2021 TABLE OF CONTENTS TIEU LUAN MOI download : skknchat123@gmail.com INTRODUCTION CONTENT I INTRODUCTION 1.Summary 2.History .6 3.Awards and Achievement Message of Vinamilk II.THE MARKETING ENVIRONMENT 1.The macro environment .8 1.1 Demographic environment .8 1.2 Economic environment 1.3 Cultural environment 10 1.4 Political environment 10 1.5 Technological environment develop of technology 11 1.6 Natural environment .12 The micro environment 13 2.1.The company 13 2.2 Suppliers .13 2.3 Marketing intermediaries .13 2.4 Competitors 15 2.5 Customers .15 2.6 Publics 16 III.STP STRATEGY 16 Market segmentation and targeting 16 1.1 Geographic segmentation .16 1.2 Demographic segmentation 17 1.3 Behavioral segmentation .19 Positioning 20 IV MARKETING MIX STRATEGY 21 1.Product .21 1.1 Product mix 21 1.2 Product quality .23 1.3 Branding 23 1.4 Packaging 23 1.5 Product support services .24 1.6 Product life-cycle 24 Price 24 2.1.Pricing method .24 2.2 Price strategy 25 2.3 Price-adjustment strategy .26 Place .27 Promotion .28 4.1 Promotion strategy 28 4.2 Promotion mix .29 V RECOMMENTDATION .30 Product 30 Price 31 Promotion .31 Place .32 TIEU LUAN MOI download : skknchat123@gmail.com REFERENCES 32 MEMBERS LIST .33 TIEU LUAN MOI download : skknchat123@gmail.com INTRODUCTION Reason for choosing this topic Why Vinamilk? Over 40 years of establishment and development, Vinamilk has been leading the dairy industry in Vietnam for many years and predicted to continuously keeping its firm position in the future The question is how does Vinamilk have campaigns and strategies to approach the market and consumers in the wisest way? That is the reason why my group chooses the topic " MARKETING STRATEGY OF VINAMILK ENTERPRISES" as the final thesis of their Marketing Principles course Purpose of the study Analyze the marketing strategy and propose recommendations to promote the growth of Vinamilk in general and Vinamilk's dairy products in particular Subjects and scope 3.1 Subjects of the study Our subjects of the study are the marketing strategy of Vinamilk 3.2 Scope of the study Scope of the study on Vinamilk dairy business in Vietnam market The fact that there are personal points of view and orientation recommendations cannot immediately put into practice 4.Research method In the study process, a group discussion method was implemented to identify the marketing strategy of the company Our group also applies methods from the knowledge that learned from: Management, Marketing principes, etc In addition, the study also get support from reference documents of Vinamilk TIEU LUAN MOI download : skknchat123@gmail.com CONTENT I INTRODUCTION VINAMILK is a leading nutrition group in Vietnam reaching more than 31 countries and generating over USD 1,5 billion/year in revenue The firm has been in operation and development for over 40 years, with continual changes Although being present in the Vietnamese market for a long time, Vinamilk's position in our country's dairy sector has not been defeated Their products range from core dairy products such as liquid and powdered milk, to value- added dairy products such as condensed milk, drinking and spoon yoghurt, ice cream, cheese and healthful beverages Despite being hit by the COVID-19 outbreak in 2020, VINAMILK strongly demonstrates the need for sustainable growth for society, especially businesses In the face of a pandemic, trade war, global supply chain slowdown, and other challenges, Vinamilk has updated its business strategy and continues to provide innovative and high-quality products to consumers In 2020, Vinamilk's consolidated net sales and profit after tax were VND 59,723 billion and VND 11,236 billion, respectively, increasing 6% and 6.5 percent from 2019 1.Summary Vietnam Dairy Products Joint Stock Company was established on the Decision No 155/ 2003 QD- BCN dated October 10, 2003 of the Ministry of Industry on transforming the State-owned enterprise Vietnam Dairy Products Company into Vietnam Dairy Products Joint Stock Company Company business registration certificate No 4103001932 issued by the Department of Planning and Investment of Ho Chi Minh City on November 20, 2003 Before December 1, 2003, the Company was a State-owned enterprise under the Ministry of Industry  Full name: Vietnam Dairy Products Joint Stock Company  Name: VINAMILK TIEU LUAN MOI download : skknchat123@gmail.com  Logo:  Slogan: “ Vuon cao Viet Nam”  Authorized capital: 20,899,554 million dong  Head office: 10 Tan Trao, p Tan Phu District 7, HO CHI MINH  Phone: (848) 54 155 555 / Fax: (848) 54 161 226  Website: https://www.vinamilk.com.vn/  Email: vinamilk@vinamilk.com.vn 2.History  1976, Vietnam Dairy Products Company, originally known as the Southern Coffee and Milk Company, was founded on the premise of three dairy facilities abandoned by the previous regime: Thong Nhat (belonging to a group of dairy companies in Vietnam) Chinese company, Truong Tho (under Friesland), and Dielac (under Nestle)  1978: The Company was transferred to the Ministry of Food Industry and was renamed United Enterprise of Milk Coffee Cookies and Candies I  1992: The United Enterprise of Milk Coffee Cookies and Candies I was formally renamed Vietnam Dairy Company  2003: The Company was formally transformed into a joint stock company in November, and renamed as Vietnam Dairy Products Joint Stock Company (Vinamilk), to reflect its change in legal status (Vinamilk, 2014)  2010, Expanded to New Zealand and more than 20 other countries  2016, With USDA United States- standard Vinamilk Organic Fresh Milk, we are paving the path for the high-end organic food market in Vietnam Angkormilk Dairy Factory in Cambodia is the first dairy factory in a foreign country  2017, The first European-standard 100 percent Organic Fresh Milk produced in Vietnam was launched TIEU LUAN MOI download : skknchat123@gmail.com  2018, Vinamilk was the first company in Vietnam to introduce 100 percent A2 Fresh Milk  2019, Inaugurated Vinamilk Tay Ninh dairy cow “Resort”, and officially confirmed to own the Global G.A.P Standard Farm System Asia's largest in terms of number of farms 3.Awards and Achievement  1985 - 1996, Medal labor gain from class III to class I  2005 - 2016, Medal independent gain from class III to class I  1995 - 2020, Top 10 high quality VIETNAM goods (Association of high quality Vietnamese goods)  2012 - 2020, National brand (Ministry of Industry and Trade)  2013 - 2010, 50 Best listed businesses in VIETNAM (Forbes magazine) and Top 500 biggest private enterprises in VIETNAM (Joint Stock Company Assessment Report VN)  2016 - 2020, 50 most valuable brands in Vietnam (Forbes magazine) and Top 10 sustainable businesses in 2016 (VCCI) Message of Vinamilk 4.1 Vision “Becoming Vietnam's top symbol of faith in nutrition and health products that benefit human life.” 4.2 Mission “Vinamilk is committed to providing the community with top quality and high-quality nutrition with its own respect, love, and responsibility for human life and society.” TIEU LUAN MOI download : skknchat123@gmail.com 4.3 Core values  Integrity: Integrity, honesty in conduct and in all transactions  Respectability: Respect yourself, respect colleagues, respect the company, respect partners, respect cooperation  Equity: Employees, customers, suppliers, and other stakeholders must all be treated fairly  Morality: Respect established moral norms and act morally  Retainer: Comply with the law, the Code of conduct and the company's regulations, policies and regulations 4.4 Business philosophy Vinamilk aspires to be a popular product in all regions and countries Therefore, we keep in mind that Vinamilk's companions are quality and inventiveness Customers are at the heart of Vinamilk's business, and the company is dedicated to serving all of their demands II.THE MARKETING ENVIRONMENT 1.The macro environment 1.1 Demographic environment 1.1.1 Population - The results of the 5th Census in Vietnam show that on April 1, 2019, the total population of Vietnam reached 96,208,984 people According to the portal of the Ministry of Labor, the population of urban areas in 2019 in Vietnam is 33,059,735 people, accounting for 34.4%; in rural areas is 63,149,249 people, accounting for 65.6% → This is an essenttial factor for the development of the dairy industry in our country and the fact shows that this great potential has a great influence on the annual increase in milk consumption by up to 30%, which is strongly concentrated TIEU LUAN MOI download : skknchat123@gmail.com in urban areas At the same time, living standards are increasingly improved, this also creates opportunities for dairy businesses in the market with great potential and developing like Vietnam 1.1.2 Age structure Picture 1: Chart of population composition by age (Source: Asian Demographics www.asiandemographics.com) Population data by age (estimate): - 23,942,527 adolescents under 15 years old (12,536,210 boys / 11,406,317 girls) - 65,823,656 people aged 15 to 64 years (32,850,534 men / 32,974,072 women) - 5,262,699 people over 64 years old (2,016,513 men / 3,245,236 women) → Large population, high birth rate, gradually improving income, increasing material life, health issues are increasingly concerned The campaigns to drink and distribute free milk of dairy companies all contribute to promoting, expanding brand awareness and creating a potential market for the Vietnamese dairy industry in general and for Vinamilk in particular 1.2 Economic environment According to the forecast of the National Center for Socio-economic Information and Forecast (NCIF), the Ministry of Planning and Investment, on the basis of assessing Vietnam's economic background after the 2016-2020 period, considering the Domestic and foreign factors are likely to affect Vietnam's economy in the coming period, NCIF forecasts that in the period of 2021 - 2025, Vietnam's GDP growth rate will reach about 7%/year economy is basically stable, inflation is at 3.5 - 4.5%/year Labor productivity improved with an increase of about TIEU LUAN MOI download : skknchat123@gmail.com 6.3%/year With this growth result, by 2025, Vietnam's GDP per capita will reach about 4,688 USD, bringing Vietnam into the group of high-middle-income countries → In general, people's living standards have been relatively improved and increased The upward trend in average income will not only create a higher purchasing power in the market but also lead to different needs and wants from consumers They may demand more or are willing to increase their spending for factors such as quality, variety, convenience, aesthetics, etc In addition, another trend is the distribution of income Many divisions among the population is also an issue that the company needs to pay attention to 1.3 Cultural environment The 4.0 era brings easy access to information through newspapers, social networks, the internet contributing to increasing human demand, Vinamilk took advantage of this opportunity to offer advertisements that target customers' psychology, habits of using sweet products as well as canned products or milkrelated products This makes marketing and advertising activities and product distribution to customers more convenient At the same time, one of the psychological habits of Vietnamese people is that they tend to be less likely to change their choices when they trust a certain brand, so it's easier for Vinamilk to increase sales and have more loyal customers If quality, brand image, high reputation In addition, Vinamilk's advertisements always emphasize the formation of a healthy lifestyle, comprehensive development of the body and mind of Vietnamese people as a strength 1.4 Political environment The stable political situation of Vietnam is decisive in economic development, creating jobs, increasing incomes for workers, and increasing consumption demand of the society This also has a positive impact on the creation 10 TIEU LUAN MOI download : skknchat123@gmail.com More than five million people have diabetes and 300.000 children under years old are obese in Viet Nam In this group of diseases for the need for milk, they prioritize milk without sugar, skimmed and calcium-rich milks  Group 2: People with malnutrition, rickets Viet Nam has 1.8 million malnourished children under years old Children from poor households carry the risk of malnutrition three times as much as children from better-off households The Central Highlands and the Northern Mountains where have many ethnic minorities are the highest proportions Among these ethnic minority groups, the Mong had the highest rate (65%) (UNICEF VIETNAM) People with malnutrition and rickets always need to add more nutrients to the body, milk is an indispensable part of the menu However, most children in rural and mountainous areas with malnutrition not have the conditions to drink milk TARGETING: Because milk or dairy products are indispensable in the menu of malnourished people, most Vinamilk’s products are for malnourished people and rickets SUMMARY: Vinamilk is using differentiated marketing They choose to sell many segments They are increasingly diversifying their products to suit a variety of customer segments Vinamilk develops their milk and dairy products in order to reach a large number of customers, while also expanding to other products (soft drinks, ice cream) Positioning To make a difference from other brands' dairy products, Vinamilk always focuses on product quality, sells products at reasonable prices and customer is center For Vinamilk, only good quality products help a brand retain customers To achieve the goal of "low-priced, high-quality products", Vinamilk has built certain competitive advantages as:  First of all, Vinamilk has a very strong financial potential 19 TIEU LUAN MOI download : skknchat123@gmail.com  Product differentiation: Skill in producing high quality products Vinamilk has many processing factories with large capacity Along with that, building a clean raw material area, meeting technical standards, the company has mastered the quality of products to compete with other manufacturers in the market  Differentiation distribution: Vinamilk's distribution system covers the entire Vietnamese market with 505 "Vietnamese Dream Milk" stores to nearly 251,000 retail points and supermarkets and convenience stores across the country Thanks to many retail points, direct shipping to the retail store will shorten the time and cost of transportation so that the product will reach the consumer at the lowest price but with the highest quality  Image differentiation: The next difference comes from images that are extremely familiar to Vietnamese people Those are dairy cows raised with modern technology, in a clean environment The image of a happy dairy cow on a green meadow with children has been deeply imprinted in the minds of Vietnamese consumers, especially children  People differentiation: Vinamilk meets the legitimate needs of consumers who need the advice of nutritionists to get the most suitable diet, brings health and happiness to the family, contributes to improve quality of life In order to be competitive, Vinamilk determines the market segment that it will enter From there, Vinamilk use competitive advantages to bring value to those segments Especially diversifying products to meet the needs of target customers and expanding its segments IV MARKETING MIX STRATEGY Vinamilk has been well-known in producing a variety of goods and their products meet the needs of the majority Vietnamese people The dairy market in Viet Nam contains great potential and Vinamilk has been leading the dairy industry in Vietnam for many years and predicted to continuously keep its firm position in the future This thesis centers on what Vinamilk has done 20 TIEU LUAN MOI download : skknchat123@gmail.com and accomplished by applying the concept of marketing mix 4Ps to become the greatest milk enterprise in Vietnamese dairy advertise at present 1.Product Recently, Vinamilk has put much effort into expanding the Company’s brand to meet the needs of clients from newborn children, children, youths, grown-ups, additionally individuals with special needs Besides the products with main brand title as “Vinamilk”, the Company also claims the brand title “Dielac” for its powdered milk item line, and “Vfresh” for the products of beverage line 1.1 Product mix Vinamilk owns a product portfolio with a large number of product lines The product lines of Vinamilk focus on dairy products, the core lines of Vinamilk are liquid milk, yoghurt, powdered milk, and condensed milk Table 5: Product length Product Liquid milk Yogurt width Powdered Baby milk cereal Bevera-ges Adult’s nutrition products Product Green farm length Vinamilk100% Love Organic RiDieala yogurt gold c gold prevent Probi Yoko Gold Optimum Bottled Sure gold water Diecerma Organic Vfresh VNM organic Fruit juice Sure 100% fresh milk Vinamilk Dielac -imported fruit Alpha Gold Gold Artichoke Dinh yogurt IQ Tea duong Vinamilk Dielac Dielac Salty Canxi Pro Grow lemonade Dielac Aloe from Europe Fresh milk with bird's nest organic 100% fresh milk A2 VNM 100% fresh Susu, Hero Fresh Alpha vera 21 TIEU LUAN MOI download : skknchat123@gmail.com milk Vinamilk sour milk Mama gold Vinamilk Optimum “Ngon Mama khoe Gold ADM IQ Gold drink “yogurt Yomilk Optimum gold Product dept: Vinamilk has a variety versions in each product, these are versions of some out standing products Table 6: Product dept VNM Green ADM IQ Gold Vinamilk Probi farm Organic gold powdered milk Sweetened /Less Sweetened/Less Sweetened/Less sugar sugar sugar 100ml/180ml Flavour: Chocolate Flavour: Banana Cabassa melon Strawberry Strawberry Capacity: 350g 850g per tin can Steps for each age group: step 1-2-34 Blueberry Pineapple 110ml/180ml Probi Gold 65ml/130ml/400ml/700ml 1.2 Product quality Vinamilk has applied the world’s most modern technology and equipment with the aim of producing the products that meet the international quality standards All production lines were built Vinamilk Development and application of HACCP framework for nourishment cleanliness and security, the production line has been the universal organizations such as SGS, BVQI evaluation, and certification frameworks meet HACCP standard RVA of the Netherlands 22 TIEU LUAN MOI download : skknchat123@gmail.com 1.3 Branding Choosing a brand name and image for the company has an important meaning for the success of Vinamilk.More than 30 years of developing, some goods such as Ong Tho condensed milk, Dielac, Vinamilk yogurt are prevalent brand “Vina” in the word Vinamilk means Viet Nam-country of origin This name creates a sense of friendliness and is easy to remember Besides, Vinamilk’s images are associated with green grasslands ,sunny fields and funny cows 1.4 Packaging Packaging contributes to buying decisions so the company has focused on designing the catchy package with necessary information on the labels (ingredients, instructions, expiration date) Besides, the capacity of each product’s type is also diversified to easily meet different using purposes of consumers In the environmental perspective, Vinamilk has developed packages that are environmentally friendly by using paper boxes, supplied by Tetra Pak, for entire liquid dairy products and beverages The systems for packaging pasteurized dairy products ensure the three main objectives of the packaging process as: guaranteeing product quality, eliminating wastage, and lowering distribution costs 1.5 Product support services Vinamilk provides an official website to interact with customers Customers have handy access to get the information such as the amount of nutrients in each product Recently, its distribution network entitled “Vietnamese Dairy Dream” reached the threshold of 500 stores in all 63 provinces and cities The retail website www.giacmosuaviet.com.vn is also proving to be effective, especially during the social distancing period 23 TIEU LUAN MOI download : skknchat123@gmail.com 1.6 Product life-cycle From 1976 - the year of being founded, Vinamilk has spent many landmarks from the beginning for maturation and development like today Recently, it can be seen that Vinamilk is in the maturity stage According to Vinamilk’s financial report, growth remains stable in the first quarter of 2021 In the last quarter of 2020 and the first quarter of 2021, Vinamilk’s revenue respectively was more than 2,6 thousand billions vnd and about 3,15 thousand billions vnd Price Because of the difficulties of economy in recent years, Vinamilk has to face many challenges to adjust its pricing strategies properly 2.1.Pricing method Nowadays there are many businesses in the same market segments so competitive prices affect a lot on selling product of Vinamilk Therefore, Vinamilk has taken competitive-based pricing methods Vinamilk focuses on producing high quality goods but still sets its products at competitive prices In that sense, the pricing strategies of Vinamilk are not only ensuring the profit, but also maintaining the purchasing ability of consumers The company owns dairy factories with large capacity, advanced technology, fully automatic can which make costs reduce significantly and ensure the product quality Besides, the company’s long experience in the industry contributes to cheap material costs and leads to competitive prices of the product These are prices of some products: Table 7: Prices of some products Product: 100% fresh Sure Prevent Vinamilk Fruit Optimum Gold milk Gold (powdered Yogurt (powerdered milk for (liquid milk for elder) baby) 24 TIEU LUAN MOI download : skknchat123@gmail.com milk) VND Price: 30.000 for a loc of boxes VND 244.000 for 400gram/tin can VND 28.000 for VND 213.000 for a loc of boxes 400gram/tin can Besides product lines of yoghurt and condensed milk, which overwhelm the market, the others face the drastic competition with other domestic dairy producers In that circumstance, pricing is one of the crucial strengths of Vinamilk to compete with its rivals Compared to its competitors’, there is no huge difference, especially in the liquid milk sector For example, Vinamilk’s price of a 1-liter fresh milk box is about 30 500 VND, while the same product type of other companies (TH True Milk, Lothamilk, or Dutch Lady) range from 27 600 - 34 000 VND 2.2 Price strategy 2.2.1 New product pricing strategy When publishing new products to the market, Vinamilk chooses marketpenetration pricing In order to make sure new products adapt to customers quickly and deeply, Vinamilk set a low initial price VNM Green farm is the newest liquid milk product and its price is 32,340 VND for a lot of boxes With this affordable price,Green farm has quickly consumed and become family’s favourable product 2.2.2 Product mix pricing strategy  Product line pricing: Vinamilk focuses on developing their product lines and sets the price steps between some various products in a line This helps customers make suitable choices that fit their demands In the powdered milk line, Vinamilk offered Dielac Grow Plus and an upgraded version of it- Grow Plus with Bird’s nest and we can see a price step between them  Product bundle pricing: Vinamilk combines some products with other products and offers this bundle at a reduced price to encourage purchases of consumers Vinamilk sells combo of for Ridielac cereal with different flavors 25 TIEU LUAN MOI download : skknchat123@gmail.com 2.3 Price-adjustment strategy  Psychological pricing: Vinamilk is using the “The more you spend, the more you get” strategy The company usually upgrades their goods which contain more nutritious than the original one and specialized for some specific target consumers When existing products have a high value to be positioned in the minds of consumers, the new version of them will completely succeed For example: Dielac Grow Plus with Bird’s nest is an upgraded version of Dielac Grow Plus With more nutrients from bird nests, customers would not hesitate to spend a little bit more to get the better product  Maintaining stable price: Vinamilk had participated in the commitment of stabilizing prices for some products (liquid milk, powdered milk for children, elders, and patients) from April 2012 Due to the increase of world’s materials, many dairy firms set their prices 7-15% higher Nevertheless, after one year maintaining stable prices in trials, Vinamilk was forced to increase the sales prices of some product groups  Promotional pricing: With the aim of increasing short-run sales, Vinamilk temporarily set their price lower than before to promote customer’s purchases On e-commerce website, many products are usually discounted from 5% Place During the past few years, the distribution network of Vinamilk has proceeded to be consolidated and emphatically grown in both domestic and worldwide markets 3.1 Supply chains and the value delivery network  Structure diagram in distribution 26 TIEU LUAN MOI download : skknchat123@gmail.com Picture 4: Vinamilk’s structure diagram in distribution Vinamilk has a mass distribution network which is present in 63 provinces of VietNam.The company’s distribution strategy is an intensive distribution strategy, with their multichannel distribution system,they want their products to be distributed all over South-east Asia The distribution system of Vinamilk follows this model with over 250 exclusive distributors and more than 220 000 points of sale nationwide  Direct channel: VNM’s direct channel is divided into smaller channels: online and offline - For online channel, in October 2016, Vinamilk has officially published an online selling website named Giacmosuaviet.vn.This website literally marked the first time a business in the FMCG industry has developed an ecommerce business channel - For offline channel, Vinamilk directly distributes to their business partners who use Vinamilk’s products to make theirs Condensed milk,liquid milk are usually distributed in this way Some partners of Vinamilk can be mentioned are Viva star coffee, Gem center,Callary,etc  Indirect channel: VNM’s indirect channel also includes online and offline channels - For online channel, the company cooperated with companies that manage selling websites to bring Vinamilk’s goods available on Shopee, Lazada, Sendo, - For offline channel, it is divided into two types: modern distribution channel and traditional distribution channel  Traditional distribution channel: The majority of Vinamilk’s total revenue comes from selling through traditional channel In this way, distributors get the products from factories and share out with resellers The biggest advantage of it is the number of members in the system and the cheaper price compared with modern distribution channel 27 TIEU LUAN MOI download : skknchat123@gmail.com  Modern distribution channel: Vinamilk has 7.800 modern channels they are supermarket, hypermarket, minimarts, which directly order from representatives of Vinamilk branch This distribution channel is easier to approach consumers but its obstacle is the weak ability to access rural customers 3.2 Distribution channel management  System management: Using ERP (Enterprise Resource Planning) system which is a tool used to support agencies and allow them to connect to Vinamilk distribution network By that, Vinamilk can collect and manage agencies' business information Implementing Oracle Business Suit which includes applications related to finance, distribution network and product producing management of the system It helps the company to reinforce its transparency  Policy for agents: Vinamilk always gives preferential treatment and applies discount rates for agencies based on the quantity of imported goods and agents’ monthly revenue Promotion 4.1 Promotion strategy Vinamilk uses push - pull strategy In push marketing, VNM’s goal is to bring the brand and products to customers Firstly, they offer discounts to resellers in many ways to encourage sales Secondly, VNM has qualified and trained sale-staffs that are trouble-free to reach and sell products to consumers In pull strategy, VNM promotes brand recognition with customer engagement and visibility and the customers themselves find and purchase the product 4.2 Promotion mix  Advertising: Although Vinamilk has appeared in the market since 1976 and is known by the majority of people, the company does not hesitate to spend nearly billion VND a day for advertising In the first three quarters of 2017,for every billion VND spent on advertising and research every day,Vinamilk earns 128 billion VND in revenue 28 TIEU LUAN MOI download : skknchat123@gmail.com Picture 5: Chart of advertising cost and company's revenue By multichannel marketing, Vinamilk can communicate with a large number of people concurrently Vinamilk’s images are pervasive on mass media such as television, web pages, posters, etc Specially, their advertisements are renewed and developed regularly so they can bring new messages and satisfy the audience Vinamilk decided to develop attractive, family-oriented video content using 3H strategy – “Hero, Hub, Help” – a new approach Hero: directing consumers attention by capturing trendy content Vinamilk prioritizes investment and creates videos that capture music trends with appearances of actors Huynh Lap and Thu Trang, Lam Vy Da,etc Hub: Branding based on basic content to increase consumer interest Vinamilk has developed video series such as video series of children’s songs and the “Clean Farm” series It created funny ads that attract kids and those ads gradually present during the meal and entertainment time of Vietnamese children Help: Educational content, help with related knowledge Vinamilk also develops on making content that present tips for adults For instance,VNM made an instruction video of making avocado ice cream and through that video,the company concurrently popularize Ong Tho condensed milk - one of ingredients to make avocado ice cream  Sale promotions: Vinamilk has also applied many promotions with different forms such as: discounts, incentives for customers who are members of Vinamilk, gift exchange when collecting many gift stamps, giving 15% of the volume but the price remains the same In aditional, Vinamilk offers weekly flash sale for online purchases on their e-commerce website 29 TIEU LUAN MOI download : skknchat123@gmail.com  Personal selling: In order to increase sales and build customer relationships, Vinamilk has chosen staff who have good communication skills and understand customer’s psychology  Public relation: Vinamilk always builds good relations and obtains favorable publicity, building up a good corporate image V RECOMMENTDATION Product - Product diversification: Vinamilk offers over 200 goods in many categories, such as condensed milk, powdered milk, nutritious powder, fresh milk, ice cream, yogurt, cheese, beverage, sugar, and soymilk Therefore, Vinamilk should discontinue unpopular goods, focus on quality products, and improve product quality, such as fresh milk, yogurt, condensed milk, and powdered milk - Preservation: With the exception of expired items, transportation, preservation, weather, temperature, sunlight, and so on are all elements that have a significant influence on the product Therefore, it is important to overcome this disadvantage by sterilized packaging produced from food-safe materials in conjunction with sterilization technologies, carefully managing the transportation process while traveling long distances, etc - Product packaging and display: Currently, Vinamilk has a very large distribution network, making it very easy for consumers to find products, but they themselves wish to reach a higher degree of eye-catching display, packaging variances amongst dairy products - New product: Producing high-end quality products that specialized for some features of people For example, powdered milk for obese kids, high-quality nutritional products for osteoporosis elderly The difference in these products is their prices are not following competitive-based pricing but value-based pricing The aim is to compete with high-end dairy products of foreign brands Proposed to 30 TIEU LUAN MOI download : skknchat123@gmail.com change from plastic straws to rice or paper straws with fast decomposition time, bringing innovation in line with a green lifestyle, protecting the environment Price Vinamilk should focus all of its resources to developing products with longterm competitive advantages in efforts to realise its aim of accepting as low a price as feasible in order to reach a huge market size Boost the number of dairy farms, support cow raising to increase domestic raw materials, and minimize reliance on imported raw materials, from that pricing to be adjusted in line with consumer earnings A price support strategy may be helpful in the short term, but it will have a long-term impact on finance Promotion Promote marketing campaigns even further or come up with fresh creative ideas to sell items and leave a lasting impact on customers With the complex condition of the COVID-19 epidemic, for example, "buying online" has become a popular trend As a result, Vinamilk needs to push the campaign for consumers to buy milk online, emphasizing on health concerns, the danger of disease transmission, and time savings, particularly social distance Implementing preferential policies such as purchasing big quantities of items, purchasing goods with presents, using promotion codes, etc Place - Urban: Residents have convenient, time-saving habits and require a high level of safety, so distribution on credible supermarkets and distribution channels, especially genuine online websites (for With the current situation of the COVID-19 epidemic, this place will consume very high products) - Rural: According to surveys, the majority of individuals in this area prefer to buy through traditional methods As a result, to successfully reach the rural market, a 31 TIEU LUAN MOI download : skknchat123@gmail.com distribution system at wholesale marketplaces or agents in important residential regions is required REFERENCES Vietnam population portal https://danso.org/ Website of Vinamilk https://www.vinamilk.com.vn/vi Analyze the impact of the micro and macro environment on the business activities of the company https://123docz.net/document/2561845-phan-tich-su-tac-dong-cua-moi-truong-vimo-vi-mo-den-hoat-dong-kinh-doanh-cua-cong-ty-co-phan-sua-viet-namvinamilk.htm Some solutions to promote Vinamilk’s liquid milk market Vinamilk truong hoangthuyminh qtkd_2008 (slideshare.net) Analysis of vietnam’s dairy market in recent years https://www.slideshare.net/trongthuy2/luan-van-phan-tich-thi-truong-san-pham-suatai-viet-nam-hay Vinamilk’s competitive strategy http://www.ceo360.vn/hoc-tap-chien-luoc-canh-tranh-cua-vinamilk-de-vuon-tamthe-gioi/ Microsoft Word - Thesis (Final).docx (theseus.fi) Analyze the marketing strategy of Vinamilk dairy company (15) (DOC) b PHÂN TÍCH CHIÊN LƯỢC CHIÊU THỊ CỦA CÔNG TY SỮA VINAMILK | Ngọc Dung - Academia.edu Vietnam economic and financial information channel https://cafef.vn/ 32 TIEU LUAN MOI download : skknchat123@gmail.com 10 Essay on solutions to improve marketing activities for Vinamilk’s dairy products http://luanvan365.com/tieu-luan-giai-phap-hoan-thien-hoat-dong-marketing-chosan-pham-tu-sua-cua-cong-ty-co-phan-sua-viet-nam-vinamilk-53480.html 11 competitive pressures of Vinamilk http://marketingai.admicro.vn/mo-hinh-5-ap-luc-canh-tranh-cua-vinamilk/ MEMBERS LIST Orde r Full name Student Implementation Evaluate code content % Note WORD + The Lê Ngọc Như 2021008512 marketing 100% environment Phạm Lê Khánh Chi 2021008415 Nguyễn Thị Diệu Linh 2021008465 Marketing mix strategy Introduction 105% 95% Recommentdation Nguyễn Ngọc Xuân An 2021008399 STP strategy 100% 33 TIEU LUAN MOI download : skknchat123@gmail.com ... final thesis of their Marketing Principles course Purpose of the study Analyze the marketing strategy and propose recommendations to promote the growth of Vinamilk in general and Vinamilk' s dairy... and territories, Vinamilk is always interested in the stages of media advertising on radio, television, newspapers, Vinamilk brand is recognized Voted as "famous brand" and 100 strongest brands... transferred to the Ministry of Food Industry and was renamed United Enterprise of Milk Coffee Cookies and Candies I  1992: The United Enterprise of Milk Coffee Cookies and Candies I was formally renamed