TH TRUE MILKs STP STRATEGY ANALYSIS TH TRUE MILKS MARKETING MIX STRATEGY

THE MINISTRY OF FINANCE UNIVERSITY OF FINANCE AND MARKETING ******* CLASS: CLC_20DMA10 Instructor: Master Đặng Huỳnh Phương Nguyễn Trần Như Quỳnh (Leader) Phan Ngân Hà Nguyễn Thu Hiền Nguyễn Tâm Như Trần Phi Yến HO CHI MINH CITY, JULY 2021 0 SUMMARY I INTRODUCTION ABOUT TRUE MILK .4 1.1 Overview of the dairy market 1.2 Introduce TH True Milk 1.2.1 Formation 1.2.2 Vision 1.2.3 Mission 1.2.4 Core values 1.2.5 Development Goals 1.2.6 Organizational structure II TH True Milk’s marketing environment 2.1 Internal marketing environment .8 2.1.1 Finance 2.1.2 Human resources 2.1.3 Marketing 2.2 External marketing environment 2.2.1 Macro environment 2.2.2 Microenvironment 11 III TH TRUE MILK's STP STRATEGY ANALYSIS 13 3.1 Market Segment 13 3.1.1 Market segmentation by geographical location .13 3.1.2 Market segmentation based on demographics 13 3.1.3 Market segmentation by consumer behavior 14 3.2 Define target market .14 3.3 Target market positioning 15 IV TH TRUE MILK'S MARKETING MIX STRATEGY 16 4.1 TH TRUE MILK'S PRODUCTS STRATEGY 16 4.1.1 Core benefits .16 4.1.2 Product portfolio 16 4.1.3 Brand 17 4.1.4 Packaging design 17 4.1.5 Product quality 18 4.1.6 Effectiveness of product strategy 20 0 4.2 TH TRUE MILK'S PRICE STRATEGY .20 4.2.1 Valuation 21 4.2.2 Market penetration strategy 22 4.2.3 Price adjustment strategy 23 4.3 DISTRIBUTION STRATEGY OF TH TRUE MILK 23 4.3.1 Distribution channels .24 4.3.2 Choosing members of the distribution system .26 4.3.3 Managing and motivating members of distribution system 27 4.3.4 Marketing channel membership rating: 27 4.3.5 TH True Milk's supply chain 28 4.4 TH TRUE MILK'S PROMOTION STRATEGY .30 4.4.1 Advertising 31 4.4.2 Direct Marketing .31 4.4.3 Sales promotion 32 4.4.4 Personal selling 33 4.4.5 Public relations 34 V OFFER 35 0 I INTRODUCTION ABOUT TRUE MILK 1.1 Overview of the dairy market Vietnam is a fertile market for domestic and foreign dairy companies Increasing population along with changes in nutrition has increased the demand for milk Besides the big names in the country, many foreign milk brands have also entered, creating quite strong competition The COVID-19 epidemic has had a great impact on the production and business activities of enterprises However, dairy businesses seem to be less affected by this "storm" Closing 2020, the dairy industry increased by 19.1% in market capitalization, better than the VNIndex (14.9% in 2020) From the bottom on March 24, 2020, the dairy industry increased sharply by 60% but still lower than the recovery of the whole market of 67.5%, recorded in the report of SSI Research According to SSI Research, domestic demand for dairy products was less affected by Covid-19, only down -6.1% in value compared to a decrease of -7.5% for consumption of consumer goods (FMCG) in the first months of 2020 and the country's nominal retail sales growth is 4.98% (GSO, 2020) • Potential Vietnam is considered as a potential dairy market Because Vietnam is a country which has population growth, young population structure with a high population growth rate of about 1.2%/year, GDP growth rate of 6-8%/year, per capita income increasing by 14.2%/year These factors combined with the trend of improving the health and stature of the Vietnamese people make the demand for dairy products always keep a high growth rate, forecasted to reach 9%/year in the coming years next According to Phu Hung Securities Joint Stock Company (PHS), contrary to the negative impact of COVID-19 on the global economy as well as in Vietnam, the consumption value of milk and dairy products in Vietnam is still high, strong growth, even stronger than before the epidemic in 2020 Specifically, milk consumption in urban areas grew by 10% while in rural areas it grew by 15% 0 Forecast for 2021, SSI Research estimates single-digit revenue growth in 2021, based on the assumption: The Covid-19 epidemic will be under control by mid-2021: There will be no more social distancing around the world The country and overall dairy consumption should recover from its 2020 low of 7% • Competitive reality The fact that many milk brands appear together has created considerable competition To sell products, businesses are constantly coming up with new strategies It is estimated that by the end of 2020, Vinamilk still holds the highest market share in the dairy industry with 43.3% If including Moc Chau Milk, these two businesses account for more than 45% of the market Moc Chau are said to have a makeover after returning to Vinamilk, Moc Chau milk's net profit in the first months of 2020 increased by 68%, while IDP reached VND 151 billion in net profit in the first half of last year, compared with VND 113 billion in 2019 Nutifood is also targeting the liquid milk segment with bold plans, including the cooperation with Hoang Anh Gia Lai (HAGL) to build a raw milk area with nearly 120,000 dairy cows, capable of supplying ,2 million liters of milk/day However, until now, the above cooperation program has not been as expected, so the amount of fresh milk sold by Nutifood is quite limited, because the company's cow farming area has only reached a few thousand cows, low compared to other companies Currently, Nutifood accounts for 7.2% of the dairy market Right from its inception, TH True Milk has set a goal of capturing 50% of the fresh milk market by 2020 The Group withdrew $1.2 billion from its “wallet” as well as many human resources to build a cow farm project Asia's largest dairy factory and the largest dairy factory in Southeast Asia Focusing on new product lines has helped TH True Milk to develop Only years after the launch of the first product, by 2015, TH true Milk is the enterprise that owns the largest dairy herd in Vietnam with a herd size of up to 45,000 heads, on a farm area of 8,100 hectares, concentrated in Nghe An As of 2020, TH True Milk accounts for 6.1% of the milk market share in the country 0 Competition in the dairy industry tends to become increasingly fierce when large companies expand their scale through M&A and more competitors enter the market Masan has just launched new products, while Vitadairy seems to be growing fast in the powdered milk segment Dairy Market In 2020 – Source: Euromonitor, SSI 1.2 Introduce TH True Milk 1.2.1 Formation TH True Milk Company, whose full name is TH Milk Food Joint Stock Company, belongs to TH Group - 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 Although it has only been born for 12 years (according to 2020 data), 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 1.2.2 Vision TH Group aspires to become “Vietnam's leading manufacturer” in the clean food industry of natural origin With serious and long-term investment combined with the 0 world's most modern technology, TH decided focused on becoming a world-class food brand trusted by everyone, loved by everyone and proud of the nation 1.2.3 Mission With the spirit of being close to nature, TH Group always tries its best to nourish Vietnamese body and soul by providing food products derived from nature - clean, safe, fresh and delicious nutritious The aspiration is called Vietnamese stature, wishing to improve the physical and intellectual capacity of the Vietnamese people and for the future of the generation of Vietnamese children to have a clean, safe and nutritious source of nutritious milk from nature 1.2.4 Core values With the slogan “True Happiness” - True Happiness, “Let's make the best milkshake with a mother's heart and heart” and always stick to the core values that have brought consumers closer to TH • For true happiness • For public health • Completely from nature • Environmentally friendly – Out-of-the-box thinking • Harmonize interests In the context of the domestic dairy industry being confused with the concepts of “remixed powdered milk” and “fresh milk” for profit, the clean fresh milk TH True Milk has opened a breakthrough path, laying the first bricks, the foundation foundation for the clean fresh milk production and processing industry in Vietnam “With TH True Milk, the strength of a brand is the core value that we are striving for “For the health of the community”” 1.2.5 Development Goals Carrying out the project of raising dairy cows in concentrated barns and processing milk with a scale of billion 200 million USD with 137000 dairy cows on 37000 hectares of 0 land Meet 50% of the demand for dairy products of the domestic market, become the leading supplier of clean milk and pasteurized fresh milk in Vietnam Launched TH True Milk pasteurized fresh milk, at the same time expanding the production of products made from fresh milk Launched a retail chain of TH true mart specializing in providing fresh and clean products from TH farms such as pasteurized fresh milk, TH True Milk yogurt, beef, seafood, fresh vegetables and fruits,etc TH true mart strives to become a chain of convenience goods providing clean, safe and high-class food to consumers On September 18,2020, in Kon Tum province, TH Group held the Groundbreaking Ceremony of a concentrated dairy farming project with a high-tech industrial scale in Mo Rai border commune, Sa Thay district The project is the next step in the roadmap to build a map of TH True Milk milk that is spread across the country with farms in Nghe An, Ha Giang, Phu Yen, Thanh Hoa and soon An Giang and Cao Bang, with the goal of by 2025, the total number of concentrated dairy cows in cooperation with farmers will reach 400,000 heads to expand the TH true mart store chain nationwide to meet people's needs 1.2.6 Organizational structure TH Food Chain Joint Stock Company (distribution) TH Dairy Food Joint Stock Company (farm) TH Milk Joint Stock Company (factory) II TH True Milk’s marketing environment 2.1 Internal marketing environment 2.1.1 Finance TH received capital resources from shareholders, loans form BIDV and Vietnam Bank (VDB), Nghe An branch and Maritime Bank TH True Milk also received investment advice from Bac A Bank where Ms Thai Huong is the executive manager This bank used to be a shareholder, holding 7% of TH True Milk’s shares according to a report 2014 In addition, TH Group is also supported by the Israel Government with an investment package which worth 100 million USD and the charter capital of TH is 3.800 billion VND 0 2.1.2 Human resources TH knows that people are a valuable asset and also a decisive factor for the sustainable development of the business Therefore, TH always focuses on investing in people The working environment is always professionalized by an international - class team and the exchange between many foreign experts TH also focuses on training talents to the work in the best way Thanks to the intensive courses, always updating knowledge, equipping with modern technology to help employees follow the trend of the times 2.1.3 Marketing Through many forms such as advertising on TV, newspaper, posters at agents, distribution centers, company website or products launch programs or community charity programs, Th all promote their image and information about the element “clean milk” which is safe for people’s health 2.2 External marketing environment 2.2.1 Macro environment • Legal and political Vietnam is under the socialist regime, has a stable political environment and the legal system is increasingly improved to create conditions for businesses including TH True Milk According to Decree 38/2019/2019/ND-CP, the general minimum salary is 1.490.000 VND/month, so a rise in the salary of employees will increase the purchasing power of the whole country However, it also makes TH True Milk have to increase costs because of increased salary fund • Economic environment Globalization and international economic integration are deepening, especially when Vietnam’s accession to the WTO brings many opportunities for many businesses to cooperate with foreign partners including the dairy industry The price of dairy products in the world tends to increase which creates competitive conditions on prices for Vietnamese dairy enterprises and moves towards expanding overseas market At the same time, 0 domestic repair businesses have the opportunity to interact with new, more advanced technologies to perfect themselves in a competitive environment One of the positive indicators of the dairy industry in the past year was the increased profit margin Overall, the COVID-19 pandemic has impacted milk global demand, keeping the price of dairy raw materials low in 2020, especially the price of Anhdryous (-23% over the same period) In addition, low oil process help reduce packaging and transportation costs These factors support the gross profit margin of dairy companies WB forecasts Vietnam's GDP growth is expected to reach 6.6% in 2021, although the WB is 0.2% lower than the forecast of 6.8% made at the end of 2020 due to the effects of the COVID-19 outbreak, but the WB still confirmed that this is the highest growth rate forecasted for countries in the ASEAN region, the average income of people is stable, leading to an increase in consumption demand for food products, including milk This is an advantage for TH True Milk to develop day by day in the COVID situation Despite the ability to compete on price, Vietnamese dairy enterprises face difficulties in product quality with foreign enterprises Many Vietnamese consumers accept a set price of more than 200% to use imported milk • Technological environment Modern machinery systems, modern farming equipment inside the largest concentration of high-tech dairy farms in Asia in Nghe An The cows in TH farm are completely imported from famous countries with clear pedigree, ensuring the best milk flow, not only that, the cows here are fitted with chips to monitor health and growth, barn system with wind and air conditioning to ensure the best living conditions In order to keep the closed process in cow raising and milk production, TH Group invests in building TH clean fresh milk processing factory This factory has the largest scale in Southeast Asia with the most modern equipment and machinery in the world • Socio-cultural environment The level of culture is increasingly improved, the speed of development, consumers gradually become more aware of the importance of health, pay more attention to nutrition, and drinking milk becomes a habit and becomes a habit very popular The demand for milk 10 0 succeeded in reaching customers, building trust and good image in the market customer mind 4.3.5 TH True Milk's supply chain • Supplier: TH builds a closed system of livestock farms to serve for own milk processing factory • Manufacture: Fresh cow’s milk is transported by a cold pipe system to the general tank at the farm and then transferred to the cold tank truck to the factory, the temperature is always maintained at 2°C - 4°C Currently, TH True Milk pasteurized fresh milk products are packaged in 6-layer sterilized paper packaging in a completely sterile environment, in which each layer will have a different function of Tetra Pak (Sweden) and SIG Combibloc (Germany), both types of packaging are produced on the most modern and advanced technological lines in the world TH fresh milk factory has modern technology and leading scale in Asia, equipped with modern equipment imported from G7 countries and Europe The entire operating system is implemented according to ISO 9001 he factory's products are manufactured and managed completely according to ISO standards 22000 to meet strict food safety and hygiene standards • Distributor: TH milk joint stock company, TH milk transportation company Addition local low-level distributors such as TNT Thinh Phat Joint Stock Company • Retailers: with the utmost desire to bring intact values from nature However, to consumers, TH Group has invested and developed sales channels international standard products to introduce products, it is a chain of stores TH true mart in all three regions North-Central-South is present in more than 60 provinces (with more than 200 stores) specializes in providing and distributing fresh and clean products high technology such as pasteurized, pasteurized fresh milk, purified water, yogurt, ice cream, Butter, cheese, FVF clean vegetables… This is an important highlight in the “from” production chain green meadow to a clean glass of milk" of TH Group At the store, the products of TH is stored in top-notch safety conditions Especially, Delivery Service Home is the result of constant concern and efforts to shorten and 28 0 eliminate Eliminate intermediate steps in the process of transporting, distributing, bringing to people Consume products that keep the essence of nature, fresh and pure quickly and with maximum convenience • Customers: are TH True Milk's important assets, so they need to be captured demand and product distribution according to customer groups From April 15, 2021, Bac A Bank – TH true mart co-brand cardholders will receive many incentives with the same opportunity opportunity to experience diverse and classy products at the TH true mart chain of stores Cooperating with TH true mart, Bac A Bank brings many co-branded cardholders attractive offers • TH True Milk's raw material supply: Cows are imported from New Zealand, USA, Australia, Canada with clear pedigree, ensuring top quality milk TH is completely autonomous in terms of feed ingredients to ensure top nutrition for dairy cows TH Farm applies advanced technologies in the world with modern agricultural machines to serve optimally in growing and harvesting all kinds of ingredients for year-round feed for cows: corn, American sorghum, Mombasa grass, Mulato grass… The formula for each cow group and the blending process is done by an advanced software system In addition to food, the cows also drink clean water that is treated with the latest Amiad water purification technology to ensure safe and clean water for the cows The farm applies the world's advanced livestock barn standards and specifications TH applies Afifarm herd management technology of Afimilk (Israel) - A leading modern dairy farm management system in the world Cows are tagged and fitted with an Afitag electronic chip in their legs to monitor health status, nutrition and milk production All the information of each individual cow is analyzed and used by the farm managers to make decisions about the management of the entire livestock cycle on the farm The cows are free to move in shelters with roofs, cool fans, and listen to music and cool baths every day to stimulate the cow's natural milk production The Center for Veterinary Medicine and International Standard Laboratory enables rapid diagnosis, prevention research and treatment for cattle The fully automatic milking system is controlled under strict procedures to ensure top hygiene and safety conditions 29 0 TH has made its mark on an agricultural project full of humanity and is loved and accepted by consumers, becoming a proud national brand The success in the dairy product supply chain of TH True Milk is becoming more and more obvious when in December 2020, TH's dairy farm set a world record “Cluster of farms focusing on applying high technology with high-tech processes the world's largest closed-loop production” Obviously, TH's success is undeniable and we can learn many lessons from this success: • Always identify the supply chain as one of the competitive advantages of enterprises Karma • Invest and build a new information system to support the supply chain • Enhance collaboration with supply chain partners • Develop a “business continuity” program to manage Risk management from “outsourced” activities • Implement good product preservation management to enhance brand image and social responsibility 4.4 TH TRUE MILK'S PROMOTION STRATEGY TH True Milk communicates with its consumers through a variety of ways From designing novel logos, concise slogans to executing unique advertisements, TH has constantly strived and quickly built a brand image with its own imprint in the eyes of consumers Right from the moment it was launched in the market, TH True Milk has made a very right decision to affirm its “clean milk” brand through the “TH True Milk - Truly natural” model with the legendary song “TH True Milk Song” (composed by: Thai Huong) TH True Milk has cleverly conquered the Preemptive Claim strategy, also known as The Laws of Mind It is very common to declare TH as a “clean milk” brand, it is so normal that no one thinks about declaring them because it is a prerequisite standard to ensure of each milk company This move caused a “storm of public opinion” and brought a great resonance to TH even without spending any money The success in applying the strategy of “perceived quality” has brought benefits to brand recognition and proves that TH is on the right track in leading the fresh milk segment Whenever it comes to “clean milk”, the first thing that pops up in the mind of customers is TH True Milk fresh milk (Camnest, 2019) 30 0 4.4.1 Advertising Obviously, TH's communication activities in general and advertising in particular try to convey the message “The essence of nature is preserved in every drop of clean fresh milk” With a transparent message of quintessential, modern and “clean” process, TH uses a variety of means to make an impression on consumers According to Camnest (2019), the main advertising activities of TH True Milk must be mentioned: • Broadcast TVC through TV channels VTV1, VTV3, VTV6, HTV7, SCTV2, about the modern clean milk production process If national television channels VTV were too familiar with the lives of people in the North, channel HTV7 hit the familiarity with people in the South That shows, TH now not only stops at customers with relative income but also expands to the segment of middle-income customers Helping to open the way to solve TH's market share problem in the market when facing constant pressure from big players in the same industry • Newspaper pages: Women, Youth, Entrepreneurs Saigon, New Hanoi, etc TH targets women and entrepreneurs, these will be newspapers that can attract them by the appropriate and scientific • In addition, TH also uses outdoor billboards, banners, buses, etc to create familiarity and preserve brand image to its consumers 4.4.2 Direct Marketing TH shows its dedication to consumers when becoming the first brand in the dairy industry to open a chain of TH truemart Showrooms Up to now, there have been 297 TH Truemart stores nationwide to distribute products and create an experience space for its customers Along with the desire to provide the best quality and natural products for consumers on the market, TH is also one of the pioneers in building a synchronous, advanced customer care system, specializing in Modern and professional with multi-channel interaction for customers such as email, hotline, social network, etc 31 0 • Hotline: 1800 54 54 40 • Email: chamsockhachhang@thmilk.vn • FAQ system • Website: www.thmilk.vn • Chain of stores TH truemart Customers can contact directly to exchange, reflect, complain or simply ask questions that need to be answered TH's staff will enthusiastically answer and strive to bring maximum satisfaction to consumers With respect, all requests or problems of consumers when received by the customer support center will be handled as soon as possible All customer care activities of the company always strictly comply with the ISO 9001:2015 standard of Bureau Veritas Therefore, TH easily obtains intermediate feedback from customers and maintains a long-term relationship with its target consumers TH's success in direct marketing is increasingly evident through consecutive awards: Bronze award in the category of "Excellent Customer Service of the Year" in 2018, Silver trophy honors "Excellent Customer Care Department of the Year" at the International Business Awards 2019 (IBA Stevie Awards) (Huy Hoang, 2019) 4.4.3 Sales promotion The dairy industry is one of the fiercest races in sales promotion because it stimulates the sales force and stimulates demand in customers by reducing product prices very effectively In theory, but sales promotion of businesses today is not really effective as it is Because of the racing nature, leading to the lack of synchronization and lack of planning in actions, which wastes the budget, sales promotion automatically becomes a weakness of the business Despite bringing many downsides, it is easy to see that brands are all caught up in the cycle of promotion Engaged in this race, TH True Milk constantly launches promotional programs such as trial at points of sale, gift hunting, buying combos to get more products of the same type, etc • Recently, TH has continuously maintained a promotion of buy get free Specifically, from April 1, 2021 to the end of May 31, 2021, customers buy 08 32 0 products of 100g Eating Yogurt, Live Yeast Yogurt 100g, 60g TOPKID Eating Yogurt, 100ml Live Yeast Drinking Yogurt, 90ml TOPKID Cheese Drink Yogurt, 180ml Pasteurized Drinking Yogurt will receive 01 product of the same type Or buy 12 get free when buying any 12 boxes of TH True Milk 180ml Sterilized Fresh Milk, get 01 product of the same type immediately • TH applies a free trial program with a new product TOPKID formula milk for children in big cities: Ho Chi Minh, Hanoi, Da Nang, Can Tho Along with that is a gift program for children “Collecting TOPKID Cards, Happy Learning Children”, TH TOPKID 3D wooden picture gift sets, 3D jigsaw sets, etc • With a “clean” brand positioning, TH implements a program to exchange TH True Milk Organic boxes to receive canvas bags According to TH True Milk, this gift program has a great meaning for the environment and society Wishing to accompany Vietnamese people in implementing a green lifestyle, limiting the use of plastic bags and especially each box will be recycled into other useful products useful for the environment 4.4.4 Personal selling Understanding the importance of personal selling for its business, TH has pioneered the dairy industry in opening a chain of TH true mart Showroom stores nationwide, and at the same time setting up its own home delivery team to ensure quality to consumers Each employee of TH has undergone a thorough and professional training process according to modern standards Through actual sales activities, TH's employees will be the ones to directly collect and synthesize necessary information from customers Based on TH's commercial database, the staff selects potential customers or sales prospects Through meeting and approaching at TH's direct selling points, employees can grasp the right needs of consumers so that the business can create the right products and satisfy them, and finally convince customers buy your product TH's sales staff, especially sales staff at TH truemart showrooms, will take on the role of promoting sales to maximize revenue and maintain relationships with potential customers With a dynamic, enthusiastic business team and a diversified product portfolio, TH is always proud to be one of the leading 33 0 enterprises in the country's dairy industry, always meeting and reasonably satisfying the needs of customers, consumer demand in the market Besides, TH True Milk also regularly implements many attractive promotions and offers for customers Especially the benefits for priority customers: from April 15, 2021, Bac A Bank - TH true mart co-branded cardholders will be refunded 20,000 VND with orders from 100,000 to 200,000 VND, 10% refund (maximum no more than 50,000 VND) for orders over 200,000 VND 4.4.5 Public relations With industry characteristics associated with the health and life of consumers, TH always implements PR activities closely associated with social benefits, community development, encouraging the development of children and the height of children Vietnamese people aim to become a brand that sticks with the public, also known as a national brand • In the “school milk” program, TH launched TH school MILK, the first product that was confirmed by the Ministry of Health to be effective in research to improve the nutritional and micronutrient status of children • TH was the founder and main sponsor of the Vietnam Foundation for Excellence (VSF) to carry out many practical programs such as the Young Talent Incubation Program, the Health Care Program for Pregnant Women, the program “Books for children”, charity activities, restoration of ancient temples, building schools, and scholarship programs, etc to fulfill the mission of improving the physical and mental health of Vietnamese children, for a mighty Vietnam • Right from 3/2020, TH has implemented a program to give million cups of TH true MILK milk to the front lines against epidemics in localities across the country Moreover, TH has spent billion VND to finance the purchase of medical equipment, masks for hospitals, billion VND to sponsor ventilators, etc Before the complicated developments of the fourth Covid-19 epidemic, on the afternoon of May 6, TH Group donated 96,529 products to Ha Nam province and 48,480 products to Vinh Phuc province, with an estimated total value of nearly billion VND 34 0 • Recently, June 5, 2021, TH Group, along with the Vietnam stature Fund and Bac A Commercial Joint Stock Bank, donated 46 billion to the Covid-19 Vaccine Fund The total value of the donation of medical products and equipment and the support of the Vaccine fund of units is 76 billion VND Through the implementation of its meaningful activities, TH True Milk has made consumers have a better view, feel the brand's interest in consumers' health and life, delete blurring the boundaries of “luxury” in the minds of customers With good implementation of the affirmation – “premium does not mean leaving and separating from the community”, TH has been getting closer and closer to the minds and lives of consumers However, TH's “spending” has made a significant contribution to the journey with big brother Vinamilk to become the two famous giants in the liquid milk market, and at the same time, it shows this junior's ambition to become the market leader V OFFER Competition in the dairy industry is getting fiercer and fiercer, especially when there are more foreign brands entering With the Vietnamese mentality of being a foreigner, it is difficult in rising to the top and maintaining the competitive advantage of TH has increased even more Solution The current common solution for businesses is to conduct research and increase diversity of types and models to satisfy the needs and tastes of customers For TH True Milk, product diversification is mainly done in the direction of increasing product category This is the most effective economic solution, no need to invest more money in new technology lines but still mainly rely on existing technology At the same time, product diversification must go hand in hand with product quality improvement Here are some issues that TH Group needs to pay attention to, such as: • Research and add dairy products and dairy products with new flavors so that customers have more choices • Design packaging and straws with many unique shapes, eye-catching colors For children's milk, it is advisable to regularly change the design and print attractive 35 0 images to suit their preferences from time to time This will help attract consumers, especially children • Diversify product designs, reduce weight so that the price is suitable for consumers’ income and increase the scale of consumption With the strength of its product quality, TH needs to maintain and strictly follow the product quality inspection according to standards, absolutely comply with food hygiene and safety Maintain and repair machinery and equipment on time, with adequate replacement materials for stability and operational productivity Overcoming weaknesses in production processes when there is a new change in raw materials, technology and products Completing operation, handling in the processes of “standard for checking and handling mold products”, “process for handling when products are contaminated with strange objects”, etc Monitor and correct inappropriate points through periodic evaluation of the system ISO and set out preventive measures TH needs to strengthen sales promotion activities, continue to promote its advantages through effective use of tools in its promotion strategy such as PR, advertising, etc At the same time, promote advertising on other media Ads should have simple, memorable content with the goal of creating awareness and keeping the product image in the mind of the customers This will help expand coverage brand and attract the attention of consumers For the diversity in channels’ distribution, TH should focus on strengthening control over its channels to unify a common goal by establishing a reciprocal relationship strategic cooperation, mutual development between the company and agencies At the same time, there should be more solutions to reach customers more effectively to be able to collect information and needs of customers From there, make the most suitable construction and development policies for the distribution network • The TH true mart chain of stores is a bright spot that need to be exploited by TH Group • Customers can have complete confidence when buying products directly from this channel 36 0 • Therefore, TH needs to open more genuine distribution stores so that customers all over the country can easily access its products • Providing products to distributors is a very effective form of business However, this form is difficult to manage and strictly control Agents, supermarkets, grocery stores, etc can dump or even sell fake and expired milk, which can be replaced with a new date to continue selling to consumers Therefore, TH needs to confirm and only sign contracts to supply products to trusted distributors Strictly control the sources of goods when delivered to distributors In addition, products must be preserved according to standards to avoid damage Besides, it is necessary to thoroughly handle the places that supply fake and poorquality goods for profiteering and affect negativelys the reputation and brand image of TH 37 0 Reference source: Anh Vu (2013) Xu huong dung sua chua co nguon goc thien nhien Vietnamnet News Retrieved from https://vietnamnet.vn/vn/kinh-doanh/thi-truong/xu-huong-dung-sua-chua-co-nguon-gocthien-nhien-148853.html Bao Lan (2020) Vi tap doan TH mat dong san pham TH true MILK HILO? Tai chinh doanh nghiep Magazine Retrieved from https://taichinhdoanhnghiep.net.vn/vi-sao-tap-doan-th-ra-mat-dong-san-pham-th-truemilk-hilo-d17554.html Chu the dong thuong hieu Bac A Bank – TH truemart nhan nhieu tien ich (2021, April 23) TH true MILK Retrieved from https://www.thmilk.vn/chu-the-dong-thuong-hieu-bac-a-bank-th-truemart-nhan-nhieutien-ich/ Danh sach Ho so san pham TH true MILK Retrieved from https://www.thmilk.vn/cong-bo-san-pham/ Diem Huyen (2020) “TH true MILK chat luong khong thua gi sua Au, My” Khoa hoc va doi song Newspaper Retrieved from https://khoahocdoisong.vn/th-true-milk-chat-luong-khong-thua-gi-sua-au-my134971.html Diem Huyen (2021) Phia sau nhung canh dong co cong nghe cao lon nhat the gioi o Viet Nam Tuoi tre Thu Newspaper Retrieved from https://phapluat.tuoitrethudo.com.vn/phia-sau-nhung-canh-dong-co-cong-nghe-cao-lonnhat-the-gioi-o-viet-nam-59209.html Khanh Khiem (2021) Chien luoc Marketing cua TH True Milk vuot mat ke thong tri Retrieved from https://tackexinh.com/chien-luoc-marketing-cua-th-true-milk/ 38 0 Le Son (2020) Pho thu tuong Thuong truc dang huong tai Khu di tich Kim Lien tham Tap doan TH Chinh Phu News Retrieved from http://baochinhphu.vn/Utilities/PrintView.aspx?distributionid=402550 Minh Anh (2021) Ai dang dung dau thi phan nganh sua Nhip cau dau tu Newspaper Retrieved from https://m.nhipcaudautu.vn/kinh-doanh/ai-dang-dung-dau-thi-phan-nganh-sua-3339241/ M.Chung (2021) Nganh sua nam 2021 se tang truong theo kich ban nao VnEconomy Magazine Retrieved from https://vneconomy.vn/nganh-sua-nam-2021-se-tang-truong-theo-kich-ban-nao.htm Ngoc Han (2017) TH true MILK khang dinh vi the sua sach chat luong vang Viet Nam Giao duc Newspaper Retrieved from https://giaoduc.net.vn/suc-khoe-hoc-duong/th-true-milk-khang-dinh-vi-the-sua-sach-chatluong-vang-viet-nam-post182601.gd Phan Thao (2019) Thi truong sua Viet Nam canh tranh cang lon Nguoi chan nuoi Newspaper Retrieved from http://nguoichannuoi.vn/thi-truong-sua-viet-nam-canh-tranh-ngay-cang-lon-nd5196.html Phong Le (2016) TH true MILK- chia se niem hanh phuc lam ly sua tot nhat Vietnamnet News Retrieved from https://m.infonet.vietnamnet.vn/khoe-dep/suc-khoe/th-true-milk-chia-se-niem-hanh-phuclam-ly-sua-tot-nhat-170692.html Phong Nguyen (2021) Tich cuc tin hieu ve muc tang truong tin hieu tren 6,5% GDP nam 2021 Lao dong Newspaper Retrieved from https://laodong.vn/kinh-te/tin-hieu-tich-cuc-ve-kha-nang-dat-muc-tang-truong-tren-65gdp-nam-2021-920079.ldo 39 0 Tap doan TH dat giai "Cham soc khach hang xuat sac cua nam” tai Giai thuong Kinh doanh Quoc te 2018 (2018, August 23) Lao dong Newspaper Retrieved from https://laodong.vn/kinh-te/tap-doan-th-dat-giai-cham-soc-khach-hang-xuat-sac-cua-namtai-giai-thuong-kinh-doanh-quoc-te-2018-626998.ldo Tap doan TH True Milk: Hanh trinh hon 10 nam ve lai “Ban sua” Viet Nam (2020, November 30) Doanh nhan Viet Nam Retrieved from https://doanhnhanvn.vn/gioi-thieu-ve-tap-doan-th-chu-tich-tap-doan-th24326.html#:~:text=C%C3%B4ng%20ty%20TH%20True%20Milk%20c%C3%B3%20t %C3%AAn%20%C4%91%E1%BA%A7y%20%C4%91%E1%BB%A7%20l%C3%A0, m%E1%BA%A1i%20c%E1%BB%95%20ph%E1%BA%A7n%20B%E1%BA%AFc%20 %C3%81 Thien Huong (2020) Kon Tum: Khoi cong du an nuoi bo sua cong nghe cao 2.544 ti dong, lon nhat Tay Nguyen Dan Viet Newspaper Retrieved from https://danviet.vn/kon-tum-khoi-cong-du-an-nuoi-bo-sua-cong-nghe-cao-quy-mo-lonnhat-tay-nguyen-20200918182925967.htm Thu tuong Nguyen Tan Dung, Thu tuong Lao Thoong-xinh Tham-ma-vong du Le khanh Nha may sua tuoi lon nhat Dong - Nam A tai Nghe An (2013, July 9) Nhan dan Newspaper Retrieved from https://nhandan.vn/tin-tuc-su-kien/thu-tuong-nguyen-tan-dung-thu-tuong-lao-thoongxinh-tham-ma-vong-du-le-khanh-thanh-nha-may-sua-tuoi-lon-nhat-ong-nam-a-tai-nghean-179650/ TH true MILK- thuong hieu sua tuoi sach hang dau (2020, April 17) Communist Party of Vietnam Retrieved from https://dangcongsan.vn/thong-tin-kinh-te/th-true-milk-thuong-hieu-sua-tuoi-sach-hangdau-563460.html 40 0 WORK DESCRIPTIONS AND ASSESSMENT OF MEMBERS’ CONTRIBUTIONS STT Full name Work Contribution (%) Nguyễn Tâm Như Marketing Mix -Price 12.5% Offer Trần Phi Yến Offer Phan Ngân Hà Analysis of STP 8.75% 30% Marketing mix – Product Nguyễn Trần Như Marketing Enviroment 18.75% Marketing Mix – Price 30% Quỳnh Nguyễn Thu Hiền Marketing Mix – Place Marketing Mix – Promotion Offer 41 0 PLAGIARISM ANALYSIS REPORT 42 0 ... Vietnamese market IV TH TRUE MILK'S MARKETING MIX STRATEGY 4.1 TH TRUE MILK'S PRODUCTS STRATEGY 4.1.1 Core benefits With the motto: “Clean fresh milk is the only way” TH Group has conveyed the best from... familiarize themselves with the product Parallel to it is the TH true mart showroom system - a place for direct dialogue and connection of TH' s products with customers; Thanks to this system, TH True. .. familiar with the lives of people in the North, channel HTV7 hit the familiarity with people in the South That shows, TH now not only stops at customers with relative income but also expands to the