Analyzing the marketing mix strategy of milk product in hancofood company (2002 2006)

HCMC UNIVERSITY OF FOREIGN LANGUAGE AND INFORMA TION TECHNOLOGY DEPARTMENT OF INTERNATIONAL BUSINESS ADMINISTRA nON ******* GRADUATION PAPER TOPIC: ANALYZING THE MARKETING MIX STRATEGY OF MILK PRODUCT IN HANCOFOOD COMPANY (2002 - 2006) STUDENT: LE THl KIM NGAN CLASS: KD0201 ADVISOR: NGUYEN DUC HoAI ANH ~/.-')i'i N(.i , / ~.\.::"-,-_- "" -t-~;/ -: ~d / I a •• ;>} .J.~t, 'v ,c ,- •.•• " : HUfL\ ~./"" • ~~. _ a_ ~ ,,' - ,_ • ,4 r •• ~, / ( :'',.1 - ~11 JULY 2006 ACKNOWLEGMENTS ***** First of all, I have some words about the nice studying (Hochiminh city technology) as well Administration knowledge Showing university as in the During the from lecturers advise, foreign languages Department period, and information of International I have learnt much Business professional and professors my deep gratitude who always of period at Huflit and regards help and support to my parents and my friends me in both study and life Much thanks to them And specially that helps department years thank to Dr Nguy~n me to finish the thesis with kind professors as well as given Due Hoai Also, Anh for her great guidance I would who have taken me a chance like to thank to my care of me for four to my graduation paper and presentation Thank to all staffs in HANCOFOOD's helpful information and bringing marketing department convenience to my for offering information collection Finally, smile with and thank to all my classmates our together studying in nice university years of KD-0201 for four ABSTRACT ***** Nowadays, because of high economy the number of companies companies among companies in a same industry rapidly and significantly to the quick advantages for the changes fierce marketing become essential Learning the companies important major marketing theory Especially, strategy market role of a planning, competitions necessary changes In competitive the situation, market an operation, However, it is not in which marketing of understanding as well implementing as business and appraising for small-medium practice marketing sized companies company, marketing although mix strategy mix having Hancofood strategy awareness is of the has still been in the way to set up an own relevant marketing regarding to its marketing chooses the topic in which product is analyzed combining the company's Hancofood mix strategy through marketing mix strategy marketing marketing SWOT analysis has met many difficulties That is a reason why the writer Hancofood's basic its market success, And in the process, and mix is basic where there are fierce effective However, marketing business business' mix strategy information strategy in milk industry for Hancofood Hancofood have strategy sized and newly established Therefore, between also in combination seem to be more difficult face to many challenges market and must not only alert competitions marketing and mastering mastering, but marketing marketing requires As a small-medium relation flexib~y try to set up effective content companies countries tool for companies an easy duty An effective a from different Furthermore, So, for survival, market and globalization, in the world is bigger and bigger That causes very fierce competitions among development mix strategy theories The writer of milk and secondary wants to analysis to have a better understanding of ii marketing mix implement show strength suggestion and weakness conclusion and marketing theory; three main parts: petition concepts, and marketing marketing theory mix strategy Besides, and marketing secondary marketing collection describes about combing Hancofood That is helpful data for the analysis method and own knowledge the company's marketing some and basic marketing Kotler's marketing The overview of are in chapter II knowledge mix of basic activities mix strategy of in chapter III By SWOT and idea, the writer analyzes from year 2002 to 2006 before writing the marketing selling mix strategy the suggestion I is about and selling concept and marketing marketing, analysis writer the three chapters mix of 4Ps are noted carefully information with some based mainly on Philip distinguishing HAN CO FOOD and its current Through in and to and threats chapter focus company; for informing Introduction, In details, especially sized in the strategy the company about opportunities This study includes concept in a small-medium of milk products about some factors with since influencing mix strategy 111 CONTENTS ***** ACKNOWLEDGEM ENT i ABSTRACT ii CONTE NTS iv LIST OF FIGURES AND TABLES vii INTRODUCTiON CHAPTER I: SOME BASIC THEORIES I An overview OF MARKETING of marketing What is Marketing Definition of Marketing Marketing's Marketing role and activities mix concept II Marketing-mix Product in an organization strategy strategy 1.1 What is a product 1.2 Product 10 life cycle (PLC) Price strategy 2.1 Major considerations 2.2 General 12 in setting pricing approaches price 12 13 Place strategy 14 C han neI Be hav i r 15 3.2 Channel 16 organization Promotion mix strategy 17 4.1 Personal Selling 18 4.2 Advertisi ng 19 4.3 S aIes Pro mot ion 19 4.4 Public Relation 20 iv CHAPTER II: THE OVERVIEW OF THE MILK PRODUCTION I The establishment of Hancofood's business Organization structure MIX STRATEGY AT HANCOFOOD and development General information The general OF THE MARKETING guideline process of Hancofood 22 establishment 22 of Hancofood and the role of Marketing 23 Department Hancofood in 24 Some words about Development 4.1 The internal process 25 assessment 4.2 The external Introduction 25 assessment 25 to the milk product of Hancofood II Marketing mix strategy of milk product in Hancofood 26 29 Product strategy 29 1.1 Quality 29 1.2 Packaging and brand name 1.3 New milk product development 30 for variety 1.4 Product life cycle of Hancofood's current of demand milk products 31 32 Price strategy 33 2.1 Pricing 33 2.2 Price list 35 2.3 Discounts 35 Place strategy 36 3.1 Inventory 36 and transport 3.2 Distribution channel 36 Promotion strategy 40 4.1 Personal Selling 40 4.2 Advertisi ng 41 4.3 Sales promotion 41 4.4 Public Relation 42 v CHAPTER III: MARKETING ANALYZING MIX STRATEGY I Overview WITH SOME SUGGESTIONS OF MILK PRODUCT FOR AT HANCOFOOD of milk market II Some external factors 43 affect Hancofood's marketing mix strategy of milk product Political 44 or legal and economic Suppliers, III SWOT THE competitors analysis with environment 44 and technology suggestion 46 on marketing mix strategy of mil k prod ucts 49 Product strategy 49 1.1 Strength and Opportunity 49 1.2 Weakness and Challenge 50 1.3 Suggestion 52 Price strategy 52 2.1 SWOT analysis 52 2.2 Suggestion 53 Place strategy 54 3.1 Strength and Opportunity 54 and Challenge 56 3.2 Weakness 3.3 Suggestion Promotion 57 mix strategy 58 4.1 SWOT analysis 58 4.2 Suggestion 61 CON CLUS ION AN D PETITION 62 VI LIST OF FIRGURES AND TABLES ***** FIGURES: Figure : The Selling and Marketing Figure : Core Marketing Figure : Factors influencing Figure : The four P's of the Marketing Figure : Three level of Product Figure : Sales and Profit over the product's Figure : Major Consideration Figure : Comparison Vertical Figure contrasted Concept Company Marketing Strategy Mix life in pricing of Conventional Marketing : Company's Concepts Distribution Channel with System structure Figure 10 : Density of milk product kinds in sales Figure 11 : Contribution of each areas on total sales of Hancofood TABLES: Table : Promotion mix' content Table : Yearly sales from 2003 to 2006 Table : Comparison of Vinamilk's and Hancofood's market place vii INTRODUCTION ***** In recent years when Vietnamese by year the people's of consumption instance food" becomes standard profitable fierce so common and popular competition but also for high the word phrase" life attracts among many these healthy And milk product kind of healthy food Reasonably market For that it can be considered in a high quality as a typical milk year better and better needs taste etc Specifically or measure appreciated life quality is improved is not only for physiological demand of health dramatically higher and higher income can meet their demand Clearly food economy develops entrepreneurs companies in as a is high the big and that creates satisfying a their customers A milk consumer may buy a milk product competitive And he may choose his look price or advertisement sold on his way of the product because of one of marketing and promotion_ or some Or simply mix elements_ of them it is concluded company has, the higher percentage customer it because that the better plays an influences is getting important in the buys the product all of them price, place Therefore mix strategy the at which the person becomes the And widely we can see what will be if the person in a fierce competitive competitors interested he is marketing stands for a large number of milk consumers Moreover, well in product itself even name or it is placed It means the customer logically, company's due to its brand milk market where the quantity more and supply role in or milk consumer business exceeds demand, operation on sales As a main tool of marketing, of the marketing Marketing marketing market much mix helps Student: LE THl KIM NGAN Department: INTERNATIONAL BUSINESS ADMINISTRATION Class: KD020 INTRODUCTION ***** companies to competition directly shape A good their advantages marketing strategy and the competitors Understanding failures the important in such brings tough market a company success indirectly of marketing mix, Hancofood the hard milk market, tries to build or set up an effective strategy In the process of the application, results as well as difficulties besides great significant main brand strategy why I choose of milk paper includes And there such to are information analyzing basic hopefully, from the marketing understanding, and development company the marketing part Specifically, described its marketing mix strategy in chapter mix for III, chapter Finally, of Hancofood I would effectiveness document for This and Conclusion are Hancofood's mix (2002-2006)" Development following is a That is the marketing the reference gets some good of mix activities of marketing it is useful and in "Analyzing in mix Lady and Vinamilk in Development theories mentioned collected suggestions at Hancofood Hancofood marketing a young and new entrant the topic: chapters The survival as Dutch three parts: Introduction, I, some product product are three Introduction limited names success to Hancofood, reason chapter or failures Hancofood Company, via in Next, of milk secondary through SWOT Company, in my like to present some and efficiency people who And concern about marketing Student: LE THl KIM NGAN Department: INTERNATIONAL BUSINESS ADMINISTRATION Class: KD020 I CHAPTER III: ANALYSING WITH SOME SUGGESTIONS FOR THE MARKETING MIX STRATEGY OF MILK PRODUCT AT HANCOFOOD COMPANY In additional, product Hancofood development has a good product in satisfying advanced for older and Sportmilk The company market variety or is alert to market development as of well as changes, the by controlling And service sets a website customers well as is another answers for www.hancofood.com.vn problems stage That can be combined with the else strength can search helpful information and development in a stage of Maturity or also seen as strength of the company and meeting for of maturity company Oldlac so it has projects at end of Growth stage and beginning milk product demand of its survival product life cycle Most of its current products company's for new milk for sport players are great examples is aware of the combination demand product the strategy of Hancofood where consumers of the company' questions products regarding The or as to these products and health With the strength, penetration share Hancofood and development have been satisfying have been attracted has it will high quality Furthermore, milk because products consumers company's in the current of high quality milk market, of competitors that the market in its current market of packing, having valued as well as branding a market penetration market with current in products at the same level to top company is said for of the company by results from strategy exploit opportunity Milk consumers That is a good chance for Hancofood which an can expect to to be an opportunity attract of the market development 1.2 Weakness and Challenge: The weakness of product strategy in Hancofood is related to branding, 50 Student: LE THI KIM NGAN Department : INTERNATIONAL BUSINESS ADMINISTRATION Class : KD020 I CHAPTER III: ANALYSING WITH SOME SUGGESTIONS FOR THE MARKETING MIX STRATEGY OF MILK PRODUCT AT HANCOFOOD COMPANY specifically typically strategy individual color In other will increase Furthermore, company's as branding name and the confusion damaged Dutch Dutch Lady, Milk consumers Hancofood's consumer coloring Lady perception for the Surely brand name products brand of of replying the company' such the products brings a short-term on more famous s long-term have a light perception the it increases to the company's and the vagueness because the brand of its milk products company's individual is rather same to other big milk companies for Hancofood and and brand mark, cost for each individual and for milk consumers' Vinamilk Hancofood's the marketing of Vinamilk Maybe, although benefits words, branding products confusion brand name of each products benefit brand of will be and acceptance to It is able to easily erase the loyal of the to its products as well as cause for swallowing market share by these giants, Vinamilk and Dutch Lady ( ~~ Dielac' ~ ••• • -O 51 Student: LE THI KIM NGAN Department: INTERNATIONAL BUSINESS ADMINISTRATION Class: KD0201 CHAPTER III: ANALYSING WITH SOME SUGGESTIONS FOR THE MARKETING MIX STRATEGY OF MILK PRODUCT AT HANCOFOOD COMPANY r 1.3 Suggestion: • Hancofood products should maintain combining the company's improved after-sale needs to have a better product strategy position its products' consumers consumer company research It helps of on famous and big competitors' classification should characteristic improve and distinct of high quality Also, the company in which it is very important to in the minds of its target for Hancofood company should set product strategy Hancofood service clearer own distinctness And it is very important more obvious orientation to make regular to up-date the market The based on its own search instead In addition, and diversification its product strategy of its milk products Hancofood should have of its products In brief, for reinforcing in occupying strong minds of target consumers Price strategy: 2.1 Swot analysis: In a fierce approach to its brings it Hancofood competitors company's pricing competition, seems competition-based the same competitive However, marketing the in practice, manager thinks advantage milk industry, with the advantage a price war; then Hancofood as the The major consideration It is very disadvantageous Vinamilk in price it is not as good is the price level and policy of competitors and Nutifood pricing can't follow identified to Hancofood of finance in its Vinamilk As a giant in easily breaks out the game If it tries to take part in the game, soon it will be the loser Besides, with many kinds of milk product weaker ranges, competitors moment Although the giant can be more flexible such as Hancofood Hancofood in pricing than with only milk powder at the think its price is not less competitive 52 Student: LE THI KIM NGAN Department: INTERNATIONAL BUSINESS ADMINISTRATION Class: KD020 I CHAPTER III: ANALYSING WITH SOME SUGGESTIONS FOR THE MARKETING MIX STRATEGY OF MILK PRODUCT AT HANCOFOOD COMPANY than the giant, its price in current kinds of Vinamilk's products sold at VND 48,000 For example, per 400-gam 400-gam can of Hancofood's In other aspect, very good in decreases market is little higher than similar Mammalac can whereas it is VND 49,000 negatives and the company share a common price through Vietnam of prices caused by its distributors can control consumers in whole doesn't target factors Vietnamese consumers' Hancofood's of Vietnam change geographical price to target Also, the average price strategy While discount sales members Hancofood channels highest distribution best as improvement, well level as of price pricing to attract as strength pricing, is discount a stimulate for distributors on in and agents in highest level will not try contributive idea for the company's for their efforts and interested ones at higher and its business development in who are In the same mind, lower distributors will give Hancofood to weakness their well performance strategy end and suitable distributors because there is no special discount in becoming to on sales applied for end- channel And it doesn't have in widening its policy for all levels in its distribution enough Distributors The transportation of Hancofood's distribution is not good sales improvement their its uses a same discount That orientation or agencies; market to is That consumers income is considered is able to be strength in because according consumers for per price strategy common price policy is also able to support Hancofood market is Mamalac about price list for end consumers, applying of Vinamilk level opportunities In general, for widening are not good price market share and vice versa 53 Student: LE THI KIM NGAN Department: INTERNATIONAL BUSINESS ADMINISTRATION Class: KD020 I CHAPTER III: ANALYSING WITH SOME SUGGESTIONS FOR THE MARKETING MIX STRATEGY OF MILK PRODUCT AT HANCOFOOD COMPANY 2.2 Suggestion: Hancofood's pricing pricing That combination should means its of Cost-Based and Competition-Based competitive the initial combine offering consumer-income prices pricing, pricing in consumers' three Then, its pricing orientation channel agents, then Besides, distribution although Hancofood should example, regarding Hancofood whereas orders Hancofood order At the price for company present, such as Hancofood for regular for for end should be only new hospitals well and agents factors prices For applied for end- customers with big price lists for each market who and consumers, for relevant set up a special or improved and geographical or organization milk supplying in offering price is for its distributors widening schools policies level has own prices and customers policy and and it is correct for Hancofood common to traffic should flexibly customers need alertness of also classify the common consumers channel of pricing which will push distributors have price support who have difficulties In addition, targets a result in price and discount Each distribution app~ying a of of the company for its distribution with different be is more flexible mind and competitions; should have a variety policies should approaches Demand or customer-Based And the company discount common sign of organization contracts with in a period of time, the company prices for these contracts Place strategy 3.1 Strength and Opportunities First of all, we can see the strength of inventory and transport of 54 Student: LE THI KIM NGAN Department: INTERNATIONAL BUSINESS ADMINISTRATION Class: KD020 I CHAPTER III: ANALYSING WITH SOME SUGGESTIONS FOR THE MARKETING MIX STRATEGY OF MILK PRODUCT AT HANCOFOOD COMPANY Hancofood itself and its distribution a warehouse from to warehouse renting each member as in its distribution has many advantages transport and inventory for and inventories combined difficulty of transport Second, Hancofood has a rather or distributors spreads classification from Each level channel conflicts to support distributors opportunity for opportunity Hanacofood improving company has very good supporting and developing new channel eliminating including And there channel their 73 is a The clear efficiently and vertical its current and operation conflicts And in distribution market its distribution and encouraging members channels transport market and efficiency cover for members in distribution for reasonably, sources in transport in using specialized The effectiveness Besides, supporting out-side in to work at places of the channel and looking for new market of has flexibility North to South satisfactorily policies and relevant of both horizontal of to customers has its own area to carryon has sales staffs appointed an and transport These advantages in distribute for the of three levels in its distribution strength transport by Hancofood, quickly big distribution it has expense current and potential Hancofood is required Hancofood- and satisfying creates effectively avoiding bring no warehouse is using with flexibility companies is And Hancofood service services That reduces there in supplying That in transport clear classification as channel expenses long transport which specializes agents well Besides, with available company policies Right at its factory, which is big enough for outputs factory warehouse channel and channel, policies encouraging are very effective share fully the These loyal It can be said that 55 Student: LE THI KIM NGAN Department: INTERNATIONAL BUSINESS ADMINISTRATION Class : KD020 I CHAPTER III: ANALYSING WITH SOME SUGGESTIONS FOR THE MARKETING MIX STRATEGY OF MILK PRODUCT AT HANCOFOOD COMPANY these policies distributors will help Hancofood and attracting in maintaining new and competitors' the distributors current who have consumer lists It is a great chance for market enlargement Finally, the other strength Vertical marketing channel organization of Hancofood's system (VMS) The benefits as the most modern and effective such as controlling channel achieving economies duplicated services strategy is from Hancofood applies for from VMS mentioned channel organization managing I at the moment conflict and power or eliminating of distribution can have a chance which its in chapter channel size and barging are advantages Hancofood channel which behavior, through distribution in Hancofood' place is alert to changes in current milk market and in near future market after Vietnam becomes a member of WTO 3.2 Weakness and Challenge: Although Hancofood there deformation is companies to depends in control their application Hancofood likely brings controls its marketing agents In the behavior, money buying process The of VMS all them nature levels deformation and sales channel which Hancofood creates in channel authorities executives ignoring considers who are accepting or interest during the period helps in distribution weakness the company dividend products plan of distribution distribution, all distribution investors of 5% as safe yearly its whereas through agents as finance to organize and mange better and effectively, in the on VMS behavior at its channels distributors and its distributors and the yearly commission earned on the total sum of of a year All decision belongs to area managers and employed and appointed 56 Student: LE THI KIM NGAN Department: INTERNATIONAL BUSINESS ADMINISTRATION Class: KD020 I CHAPTER III: ANALYSING WITH SOME SUGGESTIONS FOR THE MARKETING MIX STRATEGY OF MILK PRODUCT AT HANCOFOOD COMPANY at each place of distributors distributors and agents acts as finance intervention of benefit positive of Hancofood between The company's easily that Besides, working distributors distributors In practice, Therefore, operation the deep makes a loose It really breaks the system from VMS A lack of the benefit tie competitors and will be a challenge can embroil make distributors investors and the company and company directly by Hancofood in its distributors' goal of a unified between and agents distributors Hancofood's agents for image of Hancofood not for distribution only their less concern Moreover, conditions distributors limit its plan of enlarging is required not only available channel interested As a result, and agents and agents more distribution are distributors there improvement contracts between in acting because from the distribution and of not Hancofood company channel space for warehouse weak is no effort from but also lack of encourage in for Hancofood and Distributor but also transport means 3.3 Suggestion: Hancofood should distribution Briefly, raising process it needs creations concerned let its distributors in its training and distributive It is very necessary programs, and marketing control the deformation and management of VMS idea of its distributors for Hancofood should staffs the close relation Chance for is should be to have regular training for sales and marketing the company the same way, training company's standardized to eliminate of both sale and marketing have chance to take part in the executives focus on showing In the both sales between sale and marketing has to be helpful for sales staffs mastering At the all current products 57 Student: LE THI KIM NGAN Department: INTERNATIONAL BUSINESS ADMINISTRA nON Class: KD020 I CHAPTER III: ANALYSING WITH SOME SUGGESTIONS FOR THE MARKETING MIX STRATEGY OF MILK PRODUCT AT HANCOFOOD COMPANY For encouragement policies of distributors or agents, Hancofood of commend and reward to best performance clear classification members in contracts and performance distribution channel should be more flexible Furthermore, division Hancofood obviously vertical and channel conflicts Promotion Also, of distributors A is needed for motivating conditions for distribution in distribution channel enlargement has to set up a policy in which the market levels and distributors at the same level is of each distributor mention appraisal should particularly That will avoid of occupying customers horizontal and mix strategy 4.1 SWOT analysis: The strength board of promotion directors Unlike mix of Hancofood small-medium size rather much focus on using the marketing is the concern companies, tools, budget of 20% on total sales creates convenient its Marketing marketing rather mix strategy big number Hancofood's attention marketing-mix strategy economy Department to develop Hancofood so its promotion finance condition the role of promotion of staffs and to promotion development that potentially However, in practice, for increasing for mix in the attractive strategy Sales Promotions is an opportunity brings Hancofood the company considers big benefits mix modern if the full much about promotion sales and likely attach little importance imagine and brand Few irregular for its It will have a full marketing needed in the present milk market and in the current mix is good mix The budget finances for personal selling with a strategy marketing of the mix to promoting its seminars of milk among Hancofood 58 Student: LE THI KIM NGAN Department: INTERNATIONAL BUSINESS ADMINISTRATION Class : KD020 I CHAPTER III: ANALYSING WITH SOME SUGGESTIONS FOR THE MARKETING MIX STRATEGY OF MILK PRODUCT AT HANCOFOOD COMPANY and its target customers not satisfactory with press or charity enough for an effective mainly use sales promotion increase Specially, Sales promotion for most of promotion-mix act as supporting programs that after" department strategy is The and projects a great word company to hasn't manager short-term goals reflect launches which relation activities not and remarkable Hochiminh milk market, competitor at the same ability Nutifood They brand chooses are successful products with Vietnamese , Nutifood to and brand name their of its marketing promotion to sales in competing mix projects increase for and and public relation strategy Even, advertising These mind Nutifood's activities For are example, in advertising than strategy and media for their advertising HTV channels is against Also, program whereas At the moment, image Anlene milk in milk industry is much more famous and favorite newspaper in building to brand said to be Hancofood's in their Public Relation brand in government same promotion-mix in consumers' newspaper adults is rather are not effective thanks relevant hasn't succeeded very while That Saigon it can be said Advertising pand public only Usually they are plan for lean role in promotion-mix in promotion Besides, mind long-term sales as a key element projects which don't play important Hancofood for short-term Other elements expect to profit from the sales increase regular selling there are copies of competitors Its marketing temporary and for sales rise only promotion Frankly, "Running That is why they heavily ones for sales promotion sales companies are is considered activities of few months these activities and personnel sponsor considered as to osteomalacia program of Vietnamese' Hancofood Nutifood is Nutifood's a fellow of or Nutifood stature improvement 59 Student: LE THI KIM NGAN Department: INTERNATIONAL BUSINESS ADMINISTRATION Class: KD0201 CHAPTER III: ANALYSING WITH SOME SUGGESTIONS FOR THE MARKETING MIX STRATEGY OF MILK PRODUCT AT HANCOFOOD COMPANY • Hancofood's advertising achievement Besides, promotion mix will among them, to its although supports each and there Promotion This mission in is combination mix strategy goals as well as show any target consumers hasn't done such wants the four elements others its brand or identifying target strategy Hancofood they fail to reach that show long-term positioning and public relation doesn't of the company for or slogan or any message is weakness for its promotion-mix strategy And because of major according to marketing manager, competitive especially market selling with new concept changes earning market, in of Hancofood's strong through promotion challenge their of perception companies and reports according to promotion-mix modern performance near and of less future and for higher are who think current above Surely, there changes don't alert Finally, like is very weak in valuing marketing Phillip At the if its managers of promotion-mix quality that cause weakness mentioned Hancofood modern development, and satisfaction market of having companies unsuitable As usual, marketing challenge in higher survival concept, the performance a volume directors of high economy for Hancofood performance sales of competitors require becomes marketing with the selling promotion-mix and mix strategy will be a potential board faces foreign customers' concept the from WTO Then, there is a very fierce because quick profit competitioll In the situation, profit the selling of soon entering Besides, very on a fierce after Vietnam's goods or services that concept Hancofood advantage competition marketing the consideration manager appraisals by sales volume Kotler, it is not But, exact appraisal 60 Student: LE THI KIM NGAN Department: INTERNATIONAL BUSINESS ADMINISTRATION Class: KD020 I CHAPTER III: ANALYSING WITH SOME SUGGESTIONS FOR THE MARKETING MIX STRATEGY OF MILK PRODUCT AT HANCOFOOD COMPANY 4.2 Suggestion: Haconfood's regarding perception to modern of promotion marketing mix's function of Phillip Kotler strategy should be built based on the marketing through customers' satisfaction balance and combination is that Hancofood measures for activities Then, the company not sales only investment market planning, have but (ROI) share, budgeting also as well level of sales promotion-mix values for as market advertising market segments marketing its promotion-mix such and consumers satisfaction, target, Specifically, as through return index branding Hancofood strategy on such as position of also should use to target consumers needs to be planed and set Hancofood relation activities more effective Finally, management and efficiently financial target goals of sales rises, branding and image and public brand via choosing exactly performance ratios for its brand and image promotion company Great note mind increase up based on long-term the more promotion profitable In other words, its promotion-mix of mix elements and mix And it needs to have and appraising of consumers' products in consumers' Besides better Its promotion concept in which profit is emphasized among promotion should should be changed to for promote have a better its image and and relevant media channel for each high software needs information should in their promotion-mix technology be applied such as more effectively activities 61 Student: LE THI KIM NGAN Department: INTERNATIONAL BUSINESS ADMINISTRATION Class: KD020 CONCLUSION AND PETITION **** Marketing All plays an important Vietnamese marketing companies role in a company's should in their business; be familiar especially future when Vietnam is in international in WTO (World domestic Trade companies globalization and can alert survival with integration to market in market of period and near process; entrance operation the influence in the current Organization) easily business specifically Marketing changes will help regarding the merchandise and modern ignore marketing It is common economy Usually small-medium that planning sized companies and setting marketing strategy in becomes waste of time and money in their bosses' small-medium sized companies recognize modern economy such as Hancofood The companies • government equate marketing or give them marketing Although Hancofood strategy, hasn't strategy based Hancofood especially should about such as internet which company's on had an The company the modern have public in marketing promises plan of entering of marketing concept Therefore, these companies expecting should trainings branding activities business effective and managers marketing regular relation, role in the about consultancy at least its board of directors of the role marketing market have old perception to the selling companies mind And a few of the marketing should have programs for teaching marketing the has perception readjust their concept soon for and marketing marketing Besides, marketing applying Milk market opportunities milk liquid is very possible • staffs, technology is an emerging Therefore, the and potentially 62 Student: LE THI KIM NGAN Department: INTERNATIONAL BUSINESS ADMINISTRATION Class: KD020 CONCLUSION AND PETITION **** • profitable But it should suppliers Also, for material neighbor countries becomes a marketing strategy support has many projects should such member can't domestic as international milk of should protect plan to for milk-cow export as Cambodia Word Trade it will breeding be and for most of milk powder in imported from abroad its and milk Laos Organization, products once An into Vietnam exporting be planed now At the same way, although domestic milk industry countries through by tariff trade promotion barriers, activities it can such trade fairs • , from domestic companies, market is made of material Hancofood government domestic source of milk powder In statistics, the current Vietnam Finally, of the materials supporting good if government producing think 63 Student: LE THI KIM NGAN Department: INTERNATIONAL BUSINESS ADMINISTRATION Class: KD020 I REFERENCES ***** • Reference books P.Kotler &G.Armstrong Marketing Essential Textbook P.Kotler Ten serious marketing mistakes Youth publishing houses Wesley Balderson Small business management IRWIN Homewood Other sources Hancofood's Newspaper: Youth newspaper on 21st June, 2006 Websites: • • • htlp://www.hancofood.com.vn/ • htlp://www.vinamilk.com.vn/ • http://www.nutifood.com.vn/ • htlp:l/www.marketingteacher.com/Lessons • http://www.businessbureau.co.uk/sales-marketing/marketingmix.htm