TRƯỜNG ĐẠI HỌC THƯƠNG MẠI BÀI THẢO LUẬN HỌC PHẦN TIẾNG ANH CHUYÊN NGÀNH 1 Đề tài Researching a well known company (Vinamilk) GVHD Vũ Thị Thanh Hoa Lớp HP 2310ENTI1011 Nhóm thực hiện Nhóm 6 Hà Nội, thá.
TRƯỜNG ĐẠI HỌC THƯƠNG MẠI BÀI THẢO LUẬN HỌC PHẦN TIẾNG ANH CHUYÊN NGÀNH Đề tài: Researching a well - known company (Vinamilk) GVHD: Vũ Thị Thanh Hoa Lớp HP: 2310ENTI1011 Nhóm thực hiện: Nhóm Hà Nội, tháng năm 2023 MỤC LỤC I INTRODUCTION II BODY Background of Vinamilk 2 1.1 Journey of formation 1.2 Development of Vinamilk 2 Vinamilk’s productions Vinamilk’s achievements Development strategy of Vinamilk 4.1 Trategic development goal of Vinamilk 4.2 Development strategy of Vinamilk III 4.2.1 Vinamilk’s price strategy 4.2.2 Vinamilk’s product strategy 4.2.3 Vinamilk’s place strategy 4.2.4 Vinamilk's mixed promotion strategy CONCLUTION I INTRODUCTION Vinamilk is the leading dairy producer in Vietnam Established in 1976, Vietnam Dairy Products Company (VINAMILK) has grown and become the leading enterprise of the dairy processing industry, currently accounting for 75% of the dairy market share in Vietnam Most of the company's products are supplied to the market under the brand name Vinamilk This brand is voted as a famous brand and in the top 100 strongest brands voted by the Ministry of Industry and Trade Vinamilk's product portfolio includes the main products of liquid milk and powdered milk, value-added products with condensed milk, yogurt, ice cream and cheese Vinamilk provides the market with a portfolio of flavor and packaging products for customers to choose Vinamilk with the vision of becoming a world-class brand in the food and beverage industry, where people put all their trust in nutrient and health products.To deliver the valuable nutrition to the community with our respect, love and responsibility 2 II BODY Background of Vinamilk 1.1 Journey of formation Vinamilk was established in 1976 as the Southern Coffee-Dairy Company on the basis of three dairy factories from the old regime: (Thong Nhat Dairy Factory, Truong Tho Dairy Factory, Dielac Powdered Milk Factory) Then the company was renamed to United Enterprises of Milk Coffee Cookies and Candies in 1978 By meeting local demand, Vinamilk products ranked first in the top ten highquality Vietnamese products in customer polls by Sai Gon Tiep Thi between 1993 and 2001 In 2003, following its IPO to the Ho Chi Minh Stock Exchange, the company legally changed its name to Vietnam Dairy Products Joint Stock Company (VINAMILK). The principal activities of Vinamilk are manufacturing and distributing products derived from milk such as fresh-milk, condensed milk, powdered milk, yogurts, icecream, cheese and other drinks such as fruit juice and soya milk.· 1.2 Development of Vinamilk In 1995, Vinamilk officially inaugurated the first dairy factory in Hanoi Since 2001, Vinamilk has continuously expanded production with 16 factories (including factories in the US, Nealand and Cambodia) and 14 dairy farms Vinamilk applied new technology, installed advanced equipment and modern machines to all of its factories. Celebrating 45 years of establishment in 2021, Vinamilk affirms its position on the world dairy industry map, the company climbed to top 40 world dairy producers with the highest turnovers Up to 2023, Vinamilk not only becomes the leading dairy company in Vietnam but asserts its brand position on the international map. Vinamilk’s productions Currently, Vinamilk has more than 200 products distributed to more than 30 countries and reaches 18,000,000 products consumed every day Vinamilk has won the hearts of today's consumers with delicious, nutritious and healthy typical products: For Vinamilk fresh milk and nutritional milk, with the name "health gift from nature", the company's liquid milk products are always guaranteed of absolute quality for the health of consumers, using fresh and healthy milk raw materials meet consumer needs Vinamilk's fresh milk and nutritional milk are available in sweetened, low-sugar and unsweetened varieties depending on the purpose and needs of consumers For Vinamilk milk powder, with the goal of creating quality nutritional products, taking good care of the mother's health during pregnancy and supporting the development of the baby in the future right from the time of birth, Vinamilk has constantly researched to produce premium dairy products with a unique formula optimized to supplement essential nutrients for maternal health during pregnancy and comprehensive nourishment for the development of the fetus from the womb For Vinamilk yogurt, Vinamilk yogurt products are produced using high-quality ingredients and excellent know-how that are often present in the drawers of Vietnamese families From modern natural fermentation technology and formula supplementing with beneficial micronutrients for the body, Vinamilk yogurt has become a familiar food closely associated with the daily life of Vietnamese consumers, especially children and young girls Vinamilk yogurt products are White Vinamilk yogurt, Vinamilk yogurt with aloe vera Vinamilk’s achievements Established in 1976, it can be said that Vinamilk is the enterprise that laid the first bricks of the dairy processing industry and dairy farming in the direction of modernity and international standards After 46 years of development, Vinamilk is currently in the Top 40 largest dairy enterprises in the world in terms of revenue and Top 10 global dairy brands with value With a revenue of more than VND 61,000 billion, Vinamilk currently owns and manages more than 40 member units including a system of factories, farms, branches both domestically and internationally Besides, Vinamilk has also achieved countless outstanding domestic and international titles, such as: Domestic achievements: third-class independence medal in 2005 and 2016, second-class independence medal in 2010 Third-class labor medal in 1985, secondclass labor medal in 1991, and first-class labor medal in 1996 Award for Top 50 Most Valuable Brands in Vietnam from 2016 to 2020, national brand from 2012 to 2020, Top 10 high quality Vietnamese goods from 1995 to present, … International achievements: Top 10 global value milk brands, top most potential milk brands of the world milk industry, top powerful food brands global, top 30 of the 100 most valuable food brands global (According to the Annual Report of Brand Finance (UK)) Up levels, to top 40 biggest dairy companies in revenue (Ranking by market research company Plimsoll (UK)), … Development strategy of Vinamilk 4.1 Trategic development goal of Vinamilk In recent years, Vinamilk has built a sustainable development strategy and at the last General Meeting of Shareholders, it was agreed to further promote sustainable development goals in the next years In the long term, Vinamilk's development strategy will focus on four spearheads: - Firstly, develop superior products and experiences for consumers, further cementing its market leadership position. - Secondly, promote the application of technology and sustainable development, thereby improving the transparency and efficiency of exploitation and biodiversity of different types of cultivation, husbandry and exploitation. - Third, create new business opportunities through M&A, joint ventures, investment in start-up projects , Accelerating the Sustainable Development Goals Vinamilk continues to pursue sustainable values and identifies that as a strategic goal with key aspects: safety - product quality; ensure working conditions; local economic development; reduce greenhouse gas emissions; waste management and animal welfare; commitment towards sustainable development goals and social responsibility 4.2 Development strategy of Vinamilk 4.2.1 Vinamilk’s price strategy Selling price is considered an important competitive factor in attracting customers of every business Therefore, the appropriate product pricing is of particular importance, helping Vinamilk own a competitive advantage and deploy effective marketing campaigns The “low cost” strategy Vinamilk's products are international standards, the price is much lower than that of imported milk lines For example, Vinamilk's infant formula is only one third of the price of other milk lines on the market Moreover, they cut possible costs, restructuring the brand, and controlling the retail locations so that sales not depend on the wholesale points, the company has saved a lot of promotional costs. Besides, thanks to the promotional price advantages, the phenomena of holding goods, discharging goods, and competing on price and geography of big agents have been solved This strategy not only increases operational efficiency for the company but also stabilizes prices and brings practical benefits to consumers Product pricing strategy focused on differentiation Careful study of customers, geographical factors, and product properties is an opportunity to help Vinamilk launch different products for each segment Focusing on product packaging, upgrading product quality, diversifying products, making full use of the power of communication Vinamilk reduces the source of imported raw materials from abroad if the domestic raw material source is always abundant and quality is guaranteed. Taking advantage of domestic materials will help Vinamilk price products more suitable to customers as well as deploy sales discount programs more often to attract customers 4.2.2 Vinamilk’s product strategy Vinamilk's product lines provide a full range of necessary vitamins and minerals for the health and development of the whole family They are completely natural, full of nutrients which wonders for your health Consolidating, constructing and developing a system of strong brands that best meet the needs and consumer psychology of Vietnamese people Developing the Vinamilk brand into the most prestigious and reliable nutrition brand for Vietnamese people through the strategic application of scientific researches on the specific nutritional needs of Vietnamese people to develop the most optimal product lines Investing in expanding production and business through the healthy beverage market with the main brand name ‘VFresh’ in order to meet the rapidly increasing consumption trend for beverage products with natural origin and beneficial to human health Developing material sources to ensure a steady supply of high quality fresh milk at competitive and reliable prices 6 Comprehensively developing a portfolio of milk and dairy products aimed at a wide range of consumers Besides, Vinamilk expands into value-added products to improve overall profit margin for the whole company 4.2.3 Vinamilk’s place strategy During the past few years, the distribution network of Vinamilk has proceeded to be consolidated and emphatically grown in both domestic and worldwide markets Supply chains and the value delivery network - Structure diagram in distribution Vinamilk has a mass distribution network which is presented in 63 provinces of Vietnam The company’s place strategy is an intensive 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 220000 (up to 240000) points of sale nationwide - Direct channel VNM’s direct channel is divided into smaller channels; online and office For online channels, in October 2016, Vinamilk 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 channels, Vinamilk directly distributes to their business partners who use Vinamilk’s products to make theirs such as restaurants, schools, hotels, 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 the online channel, the company cooperated with companies that manage selling websites to bring Vinamilk’s goods available on Shopee, Lazada, Sendo,… For offline channels, it is divided into two types: modern distribution channel and traditional distribution channel Modern distribution channel: Vinamilk has 7800 modern channels They are supermarket, hypermarket, minimarts, which are directly ordered from representatives of Vinamilk branch This distribution channel is easier to approach consumers but its obstacle is the weak ability to access rural customers 7 Traditional distribution channel: The majority of Vinamilk’s total revenue comes from selling through traditional channels 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 channels 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 4.2.4 Vinamilk's promotion strategy Vinamilk's multimedia marketing strategy focuses on the message "100% pure fresh milk", which both conveys the competitive advantage of the product and increases its credibility to consumers To best convey its message, Vinamilk has used many different forms of communication Advertisement Vinamilk focuses on promoting and creating constantly by using TVC, video, pano – billboard and online marketing The company fully meets the strict requirements that an advertising message needs to achieve, which is a short advertisement with a combination of images of funny and lovely dairy cows with movement and funny sounds to help the company achieve its goals Vinamilk's messages create an impression, ingrained in customers' subconscious Moreover, the company always changes the content to make its ads new, not boring and attract customers Public relations Vinamilk succeeded in building brand awareness with aggressive marketing and advertising campaigns such as the campaign named “Vinamilk 40 years - Rising to Vietnam” in 2016, the “6 million cups of milk for poor children” campaign, the campaign "1 million trees for Vietnam" All these campaigns have great influence and receive the support of the media as well as the people of the country Vinamilk's consecutive activities have profound welfare benefits and have been received with great enthusiasm One of Vinamilk's most recent campaigns is the campaign “You are healthy, Vietnam is healthy” in 2021 Vinamilk contributed 10 billion VND to buy vaccines for children 12 - 18 years old, supported to take care of children affected by the epidemic and contributed million glasses of milk to children in difficulty due to the pandemic With many community-oriented activities, Vinamilk has become a beautiful brand in the eyes of consumers 9 III CONCLUTION In conclusion, we research Vinamilk with the aim of finding out about its history, productions, achievements, and development strategy. Along with the long development achievement, Vinamilk has been becoming a household name for Vietnamese people Also, thanks to the diligent develop a variety of products and a sustainable strategy, it maintains the No.1 position in Vietnam market and aims to reach the Top 30 of the World’s Largest Dairy Companies in terms of revenue Besides, it makes a great contribution to the development of economic Vietnam and brings the Vietnamese dairy brand to other countries In 2021, Vinamilk has completed important goals such as: increasing revenue from more than 50 trillion dong to more than 60 trillion dong; gaining an overwhelming market share in condensed milk, yogurt and liquid milk products, expanding the international market; building many large-scale dairy farms with international standards to help bring the volume of fresh milk purchased to exceed million liters/day; Vinamilk is also the unit implementing the National School Milk program in 26 provinces and cities; is the representative of Southeast Asia in the major rankings of the world dairy industry in terms of revenue and brand, etc ... Background of Vinamilk 2 1.1 Journey of formation 1.2 Development of Vinamilk 2 Vinamilk? ??s productions Vinamilk? ??s achievements Development strategy of Vinamilk 4.1 Trategic development goal of Vinamilk. .. strategy of Vinamilk III 4.2.1 Vinamilk? ??s price strategy 4.2.2 Vinamilk? ??s product strategy 4.2.3 Vinamilk? ??s place strategy 4.2.4 Vinamilk'' s mixed promotion strategy CONCLUTION I INTRODUCTION Vinamilk. .. juice and soya milk.· 1.2 Development of Vinamilk? ? In 1995, Vinamilk officially inaugurated the first dairy factory in Hanoi Since 2001, Vinamilk has continuously expanded production with