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TRƯỜNG ĐẠI HỌC NGOẠI THƯƠNG KHOA KINH TẾ QUỐC TẾ _ TIỂU LUẬN Phân tích tình hình cung, cầu thị trường mì Hảo Hảo Việt Nam tình hình dịch bệnh COVID 19 GIÁO VIÊN HƯỚNG DẪN : NGUYỄN THỊ TƯỜNG ANH LỚP : ANH CLC KTQT NGƯỜI THỰC HIỆN: BÙI HÀ MY NGUYỄN THU TRANG Hà Nội, 2021 PART INTRODUCTION I The necessity of the topic: Within the context of the thriving of fatal epidemic COVID-19 in the last years, VietNam’s economy has marked milestones in the dramatic changes of citizens’ daily behaviors in consuming instant food This shows a big potential of producing instant food especially Hao Hao noodle which is the most favorable noodle among people Being a country exporting rice, VietNam also pays lots of attention to developing food from cereal Because of that, there is a range of domestic brands competing with Hao Hao in producing instant food Dealing with a great deal of demand and cheap price, the Hao Hao producers must-have solutions in order to maintain the continuous manufacture, ensure the quality of the products, take care of their workers and keep the price constant in this difficult period From mentioned problems, the topic of this essay is to “ Analysing the demand and supply of Hao Hao market in VietNam during the epidemic COVID-19” II Purpose, method, and object of the study Purpose: analyze and provide the information about the Hao Hao market together with the changes in demand of consumers and supply of producers depending on the theoretical basis The survey also gives information about the solutions which Acecook has applied for coping with current issues Object: the situation of the Hao Hao market in the period of COVID-19 Method: applied theoretical basis of Demand and Supply Statistical and synthetic methods are used in order to illustrate the problems that Hao Hao producers are facing and how they can address all of the difficult issues Main points this essay is focusing to analyze: - Chapter 1: Theoretical basis 1) Demand of goods and services 2) Supply of goods and services 3) Demand and supply together - Chapter 2: Analyze the situations of Demand and Supply of Hao Hao Vietnam market in the context of epidemic Covid-19: 1) Overview of instant noodle market in VietNam 2) What is COVID-19? How does it affect the consuming market of instant noodles internationally and in Vietnam? 3) Demand of Hao noodlesodle in Vietnam market in the period of COVID-19 4) Supply of Hao Hao noodle in Vietnam market 5) Solutions of producers in supplying increasing demand of customers PART CONTENT Chapter 1: Theoretical basis 1) Demand of goods and services a) Definition i) Demand: is the ability and the willingness to buy a particular commodity at a given point of time, other things equal (ceteris parabus) Price of Ice-Cream Cone Quantity of Cones demanded $0.00 12 0.50 10 1.00 1.50 2.00 2.50 3.00 ii) Quantity demanded: is the amount of a good that buyers are willing and able to purchase iii) Law of demand: states that, other things equal, the quantity demanded of a good falls when the price of the good rises iv) Individual Demand: curves are summed horizontally to obtain the market demand curve v) Market demand: refers to the sum of all individual demands for a particular good or service b) Demonstrating demand i) Demand curve - The demand curve is a graph of the relationship between the price of a good and the quantity demanded - The demand curve shows how price affects the quantity demanded, other things being kept constant - When one of these factors changes, the demand curve shifts ii) Demand functions Qx = f ( Px, Py, I, T, E, N) Px: Price of the good itself Py: Price of the related goods I: Income of consumer T: Taste of consumer E: Expectation of consumer N: Number of consumers iii) Determinants in demand functions (endogenous/exogenous) Endogenous variable (cause the movement of the supply curve) Price of related goods (Py) Substitues goods Complementary goods Exogenous variables (cause the shift of the supply curve) - Change in Income (I) + Normal goods + Inferior goods: - Taste of consumer (T) - Expectation of consumer (E) - Number of consumers (N) 2) a) Supply of goods and services Definition i) Supply: is the ability and the willingness to sell a particular commodity at a given point of time, other things equal ii) Quantity supplied: The quantity supplied of any goods and services is the amount that sellers are willing and able to sell iii) Law of supply: the claim that the quantity supplied of a good rise when the price of the good rises,other things are equal b) Demonstrating supply i) Supply curve: is the graph of the relationship between the price of a good and the quantity supplied ii) Supply functions P= a.Qs+b Qs= cP+d Qs =f (P) = f (Px, Pi, T, G, E, N), iii) Determinants in Supply functions (endogenous/exogenous) Exogenous variables Endogenous variable (cause the movement of the supply curve) (cause the shift of the supply curve) - Price of the good itself (Px) • • • • • Pi: price of inputs Te: technologies G: government policies (tax, subsidy policies) E: sellers’ expectation N: number of sellers 3) Demand and supply together - Equilibrium: refers to a situation in which the price has reached the level where quantity supplied equals quantity demanded (Qs = Qd) + Equilibrium price: The price that balances quantity supplied and quantity demanded + Equilibrium quantity: The quantity supplied and the quantity demanded at the equilibrium price - Surplus + Shortage : SURPLUS SHORTAGE Surplus happens when quantity supplied is greater than quantity demanded Shortage happens quantity demanded is greater than quantity supplied The government will step in and impose a price floor – setting a minimum price at which goods must be sold The price applied will be higher than the consumer intends to pay, thus benefiting businesses The government impose a price ceiling– setting a maximum price at which goods must be sold in the market.This policy protects for the sake of buyers What ? Government’s policy Chapter 2: Analyze the situations of Demand and Supply of Hao Hao Vietnam market in the context of epidemic Covid-19: Overview of instant noodle market in VietNam 1.1 Development history of instant noodles - The first noodle package was born in Japan in 1958 and officially appeared in Saigon since the 60s - In the years after 1975, instant noodles were officially renamed "instant noodles" In those difficult times, a packet of instant noodles was often crushed to make soup, and packets of seasoning powder at that time also became precious - More than 30 years later, Vietnam has entered the ranks of instant noodle superpowers, consuming 5.1 billion packages of instant noodles per year - By 2020, Vietnamese consumption for this convenient product will increase by billion VND and promises to continue to grow along with the growth momentum of the country - According to the World Instant Noodles Association (WINA), Vietnam's instant noodle demand is ranked third in the world with consumption in 2020 increasing by 29.47% compared to 2019 https://instantnoodles.org/en/noodles/demand/table/ https://www.24h.com.vn/kinh-doanh/ban-hang-ty-goi-mi-hao-hao-acecook-viet-nam-kinh-doanh-rasao-c161a1283876.html 1.2 General introduction about Hao Hao noodles - Hao Hao noodles have entered the Vietnamese market for more than 19 years since their appearance in 2000 As the spearhead product of Acecook Vietnam Group, Hao Hao noodles are not only particularly popular because of their sour taste spicy, delicious, but also because of the quality produced by Japanese technology and international processes, fully meeting strict standards of food such as VSATTP(2007), ISO(2008), HACCP(2008), BRC(2013, 2014), IFS food(2012), https://acecookvietnam.vn/danh-hieu-giai-thuong/ - Hao Hao noodles are produced with a strict 14-step process and have been sold on the market since 2000 By 2018, Hao Hao noodles also set a record of "the most consumed instant noodles in 18 years" with more than 20 billion packages of noodles delivered to Vietnamese consumers in the period 2000-2018 https://www.24h.com.vn/kinh-doanh/ban-hang-ty-goi-mi-hao-hao-acecook-vietnam-kinh-doanh-ra-sao-c161a1283876.html - The Hao Hao noodles today have so many flavors such as Hao Hao Sour and Spicy Shrimp Flavored Noodle, Hao Hao Satay and Sallot Flavored Noodle, Hao Hao Pork Rib and Fried Garlic Flavored Noodle, with prices ranging around 3,500 VND In addition, there are now Hao Hao products designed with a very convenient shape which is “ Hao Hao handy cup noodle” and retail seasoning pack “ Muối chấm Hao Hao” Hao Hao Sour and Spicy Shrimp Flavored Noodle Hao Hao Satay and Sallot Flavored Noodle Hao Hao Pork Rib and Fried Garlic Flavored Noodle Hao Hao stir-fried instant noodles with green onion and shrimp flavor Hao Hao noodles with sweet and sour stir-fried shrimp flavor Hao Hao Vegetable and Mushroom Flavored Vegan Noodle Hao Hao Golden chicken flavored noodle Sản phẩm mì hảo hảo: Hao Hao handy: https://acecookvietnam.vn/en/product/hao-hao-handy/ Hao Hao noodles https://acecookvietnam.vn/en/product/hao-hao-noodle/ Muối chấm hảo hảo: https://acecookvietnam.vn/san-pham/muoi-cham-hao-hao/ HAO HAO HANDY CUP HAO HAO HANDY CUP NOODLE - SOUR AND NOODLE STEWED SPICY SHRIMP CHICKEN WITH LOTUS SEEDS HAO HAO HANDY CUP NOODLE MIXED MUSHROOM HOTPOT FLAVORED VEGETARIAN - In addition, Acecook Vietnam's Hao Hao salted product was honored by Buzzmetrics as the “New Contributor of the BSI Awards 2020” in taking advantage of Digital Transformation to connect and dialogue with users https://acecookvietnam.vn/acecook-viet-nam-vinh-du-da-dat-nhieu-giai-thuong-lon-trongnam-2020/ What is COVID-19? How does it affect the consuming market of instant noodles internationally and in Vietnam? - The COVID-19 pandemic has had a great impact on the economy of the whole world as well as Vietnam It is a negative demand shock that leads quantity demand to decrease However, in the noodles market, it is a perfect time to push noodles’ demand higher and higher a) In the world + The increased global demand for instant noodles with the outbreak of the Covid19 pandemic has led to border closures and social distancing measures by countries around the world => Most consumers turn to homemade meals and store dry food for long periods of time + According to the World Instant Noodles Association, the global demand for instant noodles in 2019 increased by 3.45% compared to the previous year, but in 2020 it increased by 14.79% compared to 2019 due to the demand of consumers Consumption has increased sharply under the impact of the Covid-19 epidemic b) In Viet Nam +According to the latest survey about consumer behavior, the consumption rate of instant noodles in the context of the epidemic increased by 67% + Particularly, when the epidemic situation in many countries was complicated, a Vietnamese company's noodle exports increased by 300% Currently, instant noodles and instant noodles are currently exported by Vietnam to more than 40 countries around the world https://tuoitre.vn/thay-gi-tu-thi-truong-mi-an-lien-giua-dich-covid-19-20200416113043767.htm https://moit.gov.vn/tin-tuc/phat-trien-cong-nghiep/mi-an-lien-trong-the-chien-dai-dich-covid-192.html Demand of Hao Hao noodle in Vietnam market in the period of COVID-19 The significant changes in the market and the behaviour of consumers has shifted the demand curve to the right These following determinants have caused the shift of the demand curve in the Hao Hao market - Income: According to the data of the General Statistics Office (GSO) just announced, the average income (TNBQ) per person per month of Vietnam in 2020 at current prices will reach about 4.2 million VND, a decrease of about 1% compared to the previous year 2019 Workers with higher degrees and qualifications have less income reduction Moreover, employees lost their jobs, had to take rest/rotational leave, reduced working hours, reduced income, etc due to the COVID-19 epidemic Income is a determining factor in the purchasing power of consumers As income changes, purchasing power changes, causing the demand for goods and services to change With the current situation of COVID-19 epidemic, consumers' incomes are reduced, to save money, we choose Hao Hao noodles because the price is less than 4000 VND for a meal => Hao Hao noodles are secondary goods = > demand for Hao Hao noodles also increased - Price of related goods (Py) https://www.vietdata.vn/thi-truong-mi-an-lien-nhung-huyen-thoai-lau-doi-mat-danvi-the-truoc-cuoc-chien-cua-nhung-ke-den-sau-143417937 According to the law of demand and noodles as substitutes, taking advantage of this, business manufacturers have launched products similar to Hao Hao at affordable prices According to the latest survey by market research company Nielsen Vietnam, the consumption rate of instant noodles in the context of the epidemic increased by 67% Statistics show that there are about 50 companies producing instant noodles in Vietnam Businesses are in a "war" to find a place on Vietnamese kitchen shelves This makes consumers especially during the covid-19 epidemic have many choices instead of just being loyal to Hao Hao, making the demand for this item even more plummeted Hãng Sản phẩm Giá Acecook Mì Hảo Hảo 3.500 Colusa Mì Miliket 2.500 Massan Mì Omachi 5.500-6.000 Massan Mì kokomi 2.500-3.000 Acecook Mì Đệ Nhất 5.500 - Taste of consumer The noodle market is expanding, consumers are becoming more and more gourmet, and imported noodles are more and more (such as Korean noodles, Italian noodles, ) although the price is many times higher than Hao Hao noodles, but consumers are still want to "try to tell" causes consumer tastes to change and a part of tastes also changes However, to catch up with that trend, Hao Hao noodles have added new types including Hao Hao water noodles, fried Hao Hao noodles, and vegetarian noodles Or change shape with Hao Hao handy product for user convenience Or separate retail Hao Hao salt – a special recipe is a delicious seasoning that is easy to combine with other dishes - Expectation of consumer: In the context of the COVID19 pandemic, everyone faces difficulties Therefore, consumers expect Hao Hao noodle products to keep the same price, as well as taste -> Acecook has continuously introduced new seasoned Hao Hao noodle products to consumers, including many breakthrough products such as Hao Hao Satay and Sallot Flavored Noodle, Hao Hao Pork Rib, and Fried Garlic Flavored Noodle, Hao Hao Golden chicken flavored noodle, … Continuously bringing new, quality products at low prices meet consumer needs -> Buyer confidence -> Increased demand - Number of consumer: This is probably the strong point of Hao Hao noodles Our country's population is quite large and most of them belong to the middle class and ordinary people, so the price of Hao Hao noodles is a strong point to attract consumers Hao Hao was born nearly 20 years ago (since 2000) so this brand is quite popular all over the country => Factor of maintaining product demand Supply of Hao Hao noodle in Vietnam market The supply curve still remains the same, but the situation of the market, the suppliers must have policies to shift supply curve to the right so as to ensure the equilibrium point of the market and reduce the shortage of products.These following determinants will cause the shift of the supply curve in the Hao Hao market a Quantity supplied: -Hảo Hảo is called a “King of instant noodle” with the quantity supplied annually almost billion packs and Acecook’s revenue is more than 9800 billion dongs by selling noodles for Vietnamese (https://vietnammoi.vn/doanh-nghiep-thu-ve-hon9800-ti-dong-nho-ban-mi-goi-cho-nguoi-viet-20201030120117742.htm) -That number has dramatically increased because of Covid-19 According to the statistics of WINA 2020 (worldwide instant noodle association), Vietnam is the third biggest country consuming noodles in all over the world only behind China and Indonesia Consequently, it causes the shortage of commodities because people now have a tendency to consume home-cooked meals and stocked up on dry food for a long time (https://moit.gov.vn/tin-tuc/phat-trien-cong-nghiep/mi-an-lientrong-the- chien-dai-dich-covid-19-2.html) b) Inputs: -The disease has negative effects on the transportation which causes the lack of inputs delivered Mrs Kajiwara Junichi- Director of Vietnam Acecook company said that the business partners appear to have many new infections so the delivery of ingredients to distributors has been slowed down Therefore, it also aggravates the shortage of quantity supplied (https://vneconomy.vn/doanh-nghiep-san-xuat-my-goi-do-kho-gap-kho-vi-thieunguyen-lieu.htm) -Currently, many enterprises have to downsize their production because of lack of producing materials To deal with that issue, producers are finding temporary substitute sources of supply to ensure the continuity and productivity of the process c)Technology: + Acecook has strongly invested in manufacturing facilities and the advanced production line from Japan which totally responds to any technical standards accompanying safety and food hygiene + The production process is closed and uses Japanese automatic equipment and technology The workers just only need to monitor and solve problems if necessary + Acecook has nationwide branches, every branch has invested with full and modern technology Ho Chi Minh factory is one of the largest and most up-todate instant noodle factory in Southeast Asia, (https://chatluongvacuocsong.vn/quy-trinh-san-xuat-mi-an-lien-voi-cong-nghenhat-ban-d1095.html) d) Expectation of the future: the potential for the development of domestic and international markets is worth looking forward to + Domestics market: according to the latest survey of Nielsen Vietnam,the consumption rate of instant noodles has increased by 67% in the period of COVID 19 Many international brands gradually participate in the Vietnam market and that will make Vietnam’s market become more various Consumers possess lots of choices with a diversity of types,prices and tastes + Exporting potential: instant noodle manufacturing plays an important role in coping with preventing disease emergencies Hence, the producers should have a policy to push the production significantly (https://moit.gov.vn/tin-tuc/phat-trien-cong-nghiep/mi-an-lien-trong-the-chien-daidich-covid-19-2.html) e) Number of supplier : Acecook Vietnam currently has branches and 11 factories with a high Japanese standard of investing scope which cost 50 million USD/factory The percentage of automation is more than 80% with almost 5000 workers (https://acecookvietnam.vn/vina-acecook-voi-chang-duong-20-nam/) Solutions of producers in supplying increasing demand of customers a) Sustain the process of ongoing production - Vietnam’s society has experienced lots of quarantine periods, factories of Acecook Vietnam in regions all apply the manufacturing model “3 chỗ” (eat, stay and work on-site) going with implementing prevented epidemic solutions adequately - Early, Acecook carries out measures in order to examine and estimate the potential of disease infection They strictly manage the implementation of 5K in their staff, customers, and business partners when they come to companies and factories - In terms of keeping the sufficient supply, the company has issued lots of solutions for bad conditions in transportation That will guarantee the quantity supplied for consumers even in Covid-19 - Acecook is trying hard to produce in their maximum capacity and focusing on main products so they can satisfy their customers' demand b) Caring about workers health - Although the company has applied the manufacture model “3 chỗ” with a view to making sure that workers are in conditioning, there is still only 50% of total workers registering for that campaign Consequently, there will be an absolute lack of labour and the process will be delayed - The enterprise always pays attention to health’s condition Acecook facilitates advanced systems so as to ensure the stable temperature among their workers and periodic tests c) Stable price - Despite meeting lots of harsh situations, Vietnam Acecook strongly emphasized the constant price even fluctuated market They predict the price of each pack of instant noodles will still stand at 3000 VND, 8600 VND for a cup of noodles, - Moreover, the company commits to supply equilibrium nutrition and no harmful chemicals (https://www.vietnamplus.vn/acecook-viet-nam-no-luc-cung-cap-san-pham-antoan-trong-mua-dich/744164.vnp PART CONCLUSION The purpose of this essay is to analyze the changes in demand and supply of Hao Hao instant noodles market in Vietnam in the context of COVID-19 As can be said, the Acecook’s effort of providing adequate product servicing for customers cannot address issues completely Nevertheless, its campaign is gradually improving the deficient supply, maintaining the income of workers and supplying food in quarantine time REFERENCE: Sản phẩm mì hảo hảo: Hao Hao handy: https://acecookvietnam.vn/en/product/hao-hao-handy/ Hao Hao noodles https://acecookvietnam.vn/en/product/hao-hao-noodle/ Muối chấm hảo hảo: https://acecookvietnam.vn/san-pham/muoi-cham-hao-hao/ Chiến dịch quảng cáo: https://acecookvietnam.vn/category/tvc/ Danh hiệu: https://acecookvietnam.vn/nha-san-xuat-mi-an-lien-duoc-chon-mua-nhieu-nhatthuoc-ve-acecook-viet-nam/ https://acecookvietnam.vn/hao-hao-va-hanh-trinh-20-nam-chia-se-huong-vi-yeu-thuong/ Số liệu: Bài viết có liên quan: https://instantnoodles.org/en/ ... phẩm mì hảo hảo: Hao Hao handy: https://acecookvietnam.vn/en/product/hao-hao-handy/ Hao Hao noodles https://acecookvietnam.vn/en/product/hao-hao-noodle/ Muối chấm hảo hảo: https://acecookvietnam.vn/san-pham/muoi-cham-hao-hao/... phẩm mì hảo hảo: Hao Hao handy: https://acecookvietnam.vn/en/product/hao-hao-handy/ Hao Hao noodles https://acecookvietnam.vn/en/product/hao-hao-noodle/ Muối chấm hảo hảo: https://acecookvietnam.vn/san-pham/muoi-cham-hao-hao/... even more plummeted Hãng Sản phẩm Giá Acecook Mì Hảo Hảo 3.500 Colusa Mì Miliket 2.500 Massan Mì Omachi 5.500-6.000 Massan Mì kokomi 2.500-3.000 Acecook Mì Đệ Nhất 5.500 - Taste of consumer The noodle
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