(Tiểu luận) principals of marketing topic vinamilk

PRINCIPALS OF MARKETING Topic: Vinamilk Group 6: Phạm Quang Anh - 11210701 Nguyễn Bá Gia Bách - 11210899 Phạm Quang Minh - 11213905 Nguyễn Thành Trung – 11215998 Lê Nguyễn Nhật Minh – 11213821 International Business Administration 63B Contents Part 1: Introduction Part 2: Current Marketing Situation Analysis 1.1 External analysis 1.2 Internal analysis SWOT analysis Strength Weaknesses Opportunities Threats Part 2: Marketing innovation plan I Product Rationale: II Nutritional Value of the Product: III Apply STP in New Product: .8  Segmentation .8  Targeting  Positioning IV Marketing Objectives: .9 V Marketing Mix Part 3: Transcript of in depth interview .12 Part 1: Introduction Introduction about Vinamilk Vinamilk latest logo Vinamilk, Vietnam's largest dairy company, has been a household name since its inception in 1976 With a market share exceeding 50%, Vinamilk's success lies in its strong brand recognition, extensive distribution network, and unwavering commitment to quality Vinamilk's innovative approach has led to the development of lactose-free milk, yogurt for children, and fortified milk for adults, catering to diverse consumer needs The company's dedication to sustainability is evident in its efforts to reduce environmental impact through renewable energy use and waste recycling Beyond its dairy products, Vinamilk actively engages with the community through educational and social programs, providing financial assistance to children in need Vinamilk's mission to become a world-class brand in the food and beverage industry aligns with its vision of delivering valuable nutrition with respect, love, and responsibility Introduction of the interviewee Based on the effective interview with Vinamilk Representative– Marketing Chief in the North of Vinamilk, we gathered customer-centric insights successfully to conduct this marketing analysis report on Haidilao to emphasize the restaurant chain's remarkable journey as it strives for global recognition, especially in the Vietnamese market Accompanied with his useful inputs, in this report, we also gather external data to support our perspectives on Haidilao’s marketing environment Practical marketing cases are also indicated in this report to prove our group’s point of view 3 History of Vinamilk Vinamik latest products Emerging from the heart of Vietnam's post-war reconstruction, Vinamilk has blossomed into a dairy industry stalwart, its name synonymous with quality and innovation Established in 1976, the company faced the challenges of a nascent dairy industry, limited infrastructure, and a population unfamiliar with dairy products Yet, Vinamilk embarked on a mission to educate consumers and elevate the role of dairy in a healthier society Through unwavering dedication to quality and innovation, Vinamilk introduced groundbreaking products like condensed milk, powdered milk, and fresh milk, all bearing the iconic Vinamilk name Its commitment to sustainability manifested in stringent production standards and eco-friendly practices Vinamilk's impact extended beyond dairy, actively engaging in community initiatives that empowered individuals and enriched lives Today, Vinamilk stands as a titan of the Vietnamese dairy industry, with a market share exceeding 50% Its unwavering commitment to quality, innovation, sustainability, and community engagement has solidified its position as a trusted partner in the lives of millions of Vietnamese consumers As Vinamilk continues to expand its reach, both domestically and internationally, it is poised to cement its legacy as a visionary force in the global food and beverage industry Part 2: Current Marketing Situation Analysis 1.1 External analysis  PESTLE analysis: Political: Vietnam is a stable political environment, which is favorable for businesses However, there are some regulatory challenges, such as high tariffs on imported dairy products + Economic: Vietnam's economy is growing rapidly, which is creating a growing demand for dairy products However, the country is also facing inflation and rising incomes, which could put a strain on household budgets + Social: Vietnam has a young and growing population, which is a positive for the dairy industry However, there are also some social challenges, such as a lack of awareness of the importance of nutrition and the benefits of dairy products + Technological: Vietnam is a rapidly developing country, and technology is playing an increasingly important role in the dairy industry For example, Vinamilk is using technology to improve its supply chain and to develop new products + Environmental: Vietnam is facing a number of environmental challenges, such as climate change and water pollution These challenges could impact the dairy industry in terms of the availability of raw materials and the cost of production + Legal: The Vietnamese government is supportive of the dairy industry, and there are a number of regulations in place to protect consumers and to ensure the quality of dairy products Competitive analysis: Vinamilk's competitors, the strongest is TH True Milk Dutch Lady is a multinational company, also very strong, but in the Vietnamese market in the past 5-7 years, it has not been paid attention to In terms of brand, Dutch Lady has been showing signs of decline in the past 5-7 years As for TH True Milk, it has developed many products, but to talk about Vinamilk's competitive advantages over TH, there are quite a few Vinamilk has a system of farms, while TH only has a main farm in Nghe An.Vinamilk's system of farms is almost unmatched by any other brand at present This is because investing in farms requires a lot of capital Vinamilk's farms are extremely large, so it can develop pure, premium milk lines Customer analysis: Vinamilk's target customers are Vietnamese consumers of all ages However, the company places a particular focus on children and young adults Vinamilk understands that the importance of nutrition is becoming increasingly important to Vietnamese consumers, and the company +   Document continues below Discover more from: Marketing MKMA1104 Đại học Kinh tế… 999+ documents Go to course Premium Marketing LÝ THUYẾT 56 Marketing 98% (51) Premium Sách hướng dẫn học 188 marketing Marketing 100% (12) Premium Marketingcan ban 112 34 2021 C78910 Marketing 100% (11) TracPremium nghiem MAR1 trắc nghiệm mar Marketing 100% (11) TrắcPremium nghiệm 34 is positioning its products as healthy and nutritious 1.2 Internal analysis Marketing Marketing 100% (10) ẢnhPremium hưởng yếu tố môi trường…     Marketing strategy analysis: Vinamilk's marketing strategy is focused on building strong brands and developing innovative products.Marketing The company has 100% (8) a strong distribution network and invests heavily in advertising and bảnpromotion Product and service analysis: Vinamilk produces a wide range of dairy products, including fresh milk, yogurt, ice cream, and cheese The company's products are known for their high quality and affordable prices Distribution analysis: Vinamilk has a strong distribution network that reaches over 100,000 retail outlets across Vietnam The company also has a number of its own stores and a growing online presence Promotional analysis: Vinamilk invests heavily in advertising and promotion The company's advertising campaigns are typically creative and emotionally appealing Vinamilk also uses a variety of other promotional tools, such as public relations, sales promotions, and sponsorships SWOT analysis Strength       Nationwide distribution channel: Vinamilk has a vast distribution network that reaches over 200,000 retail outlets across Vietnam This gives the company a significant advantage over its competitors Diverse product range: Vinamilk produces a wide range of dairy products, including fresh milk, yogurt, ice cream, and cheese This allows the company to appeal to a wider range of customers and meet their different needs Familiar trademark: Vinamilk is a well-known and trusted brand in Vietnam The company has a strong reputation for producing high-quality products International standard manufacturing equipment and technology: Vinamilk uses the latest manufacturing equipment and technology to produce its products This ensures that its products meet the highest standards of quality and safety Strong marketing: Vinamilk invests heavily in marketing and promotion The company's brands are among the most recognizable in Vietnam Several subsidiaries: Vinamilk has a number of subsidiary companies that produce and distribute a variety of food and beverage products This diversity helps the company reduce its risk and expand into new markets Weaknesses     Reliance on imported raw materials: Vinamilk imports a significant portion of its raw materials, such as milk powder and cheese This makes the company vulnerable to fluctuations in global commodity prices Decline in export business: Vinamilk's export business has declined in recent years due to increased competition from foreign companies and the global economic slowdown Negative press: Vinamilk has been the subject of negative press coverage in recent years, with allegations of food safety violations and price fixing This has damaged the company's reputation and led to a loss of sales Due to the new branding strategy, new products come out, which means the old products have to be sold; therefore, that would also be a difficulty Opportunities     Rapid urbanization: The rising quality of life and improving economy of Vietnam will increase the need for dairy products that Vinamilk can meet Growing cities and towns increase the demand for products and various other dairy products Government policies: The Government of Vietnam has started schemes to support industries that boost the nation’s economy Vinamilk can use the schemes and boost its market Several areas are being loaned out to such companies to boost the falling economy of Vietnam Demand from China: Being neighbors with China is an advantage for Vinamilk The rising demand for milk products in China can be sated by Vinamilk, thus increasing its market size China has the largest market for Vinamilk’s products, and using the right plans and ways to enter this huge market can prove beneficial for Vinamilk This will also accelerate their plan to expand globally Expanding in sports nutrition: With globalization, the sports nutrition industry has seen growth Vinamilk can expand its branches into the sports nutrition industry in Vietnam and see a boom in business Milk plays a big role in the sports nutrition industry and exploiting this market could be favorable for Vinamilk Threats  Price instability: Since Vietnam is an underdeveloped nation, Vinamilk must provide its services at a reasonable cost that can be afforded by the general public at the same time maintaining the quality of its products Also, the cost of products exported must be on par with the global competitors   Alternative for milk: Vegan has seen a rise in the trend, Vinamilk needs to adjust and produce new products supporting this trend to improve its market size Soymilk and Vegan milk can be the new products launched by Vinamilk thus gaining the support of the trend followers not only in Vietnam but also on a global level Rising competition: Sensing Vietnam’s potential as a large market, several global milk-based milk brands have entered Vietnam and threatened Vinamilk out of its home territory Several new companies have emerged due to rapid urbanization and thus prove to be a threat to steal the consumers from Vinamilk To overcome its challenges and seize its opportunities, Vinamilk can focus on the following strategies:   Continue to invest in its nationwide distribution channel and product range: This will help the company to maintain its market leadership and reach a wider range of customers Improve its marketing and branding efforts: Vinamilk needs to continue to invest in marketing and promotion to maintain its brand awareness and reputation The company can also focus on digital marketing Vinamilk USP Vinamilk's USP is its focus on "Building a Vietnamese brand" This USP is based on Vinamilk's long history of operating in Vietnam, its commitment to using Vietnamese milk sources, and its support for Vietnamese dairy farmers Vinamilk also emphasizes the quality and safety of its products, and its commitment to providing nutritious and affordable dairy products to Vietnamese consumers Vinamilk's USP has helped it to become the leading dairy company in Vietnam, with a market share of over 50% Vinamilk is also a well-respected brand in Vietnam, and its products are trusted by millions of Vietnamese consumers Here are some specific examples of how Vinamilk implements its USP: + Vinamilk uses the slogan "Nourishing Vietnam" to emphasize its commitment to providing nutritious and affordable dairy products to Vietnamese consumers + Vinamilk sources its milk from over 13 big dairy farms across Vietnam This helps to support Vietnamese dairy farmers and ensures that Vinamilk products are made with fresh, high-quality Vietnamese milk + Vinamilk invests heavily in research and development to ensure that its products meet the highest standards of quality and safety + Vinamilk offers a wide range of dairy products at different price points to make them accessible to all Vietnamese consumers + Vinamilk is involved in a number of social and environmental initiatives in Vietnam This helps to strengthen Vinamilk's reputation as a responsible and caring Vietnamese brand Part 2: Marketing innovation plan I Product Rationale: In a move that signals its commitment to catering to the discerning tastes and healthconscious choices of modern consumers, Vinamilk, Vietnam's leading dairy company, is set to introduce a line of high-end premium dairy products This innovative range of products is specifically crafted to meet the rising demand for dairy products that not only deliver exceptional taste and texture but also provide superior nutritional value Vinamilk's foray into the premium dairy segment is a strategic response to the growing affluence and health awareness among middle- and high-income consumers in Vietnam These consumers are increasingly seeking dairy products that go beyond basic sustenance, opting for products that are not only delicious but also rich in essential nutrients and contribute to their overall well-being The new premium dairy line will encompass a diverse range of products, including milk, yogurt, and cheese, all meticulously crafted with the finest ingredients and advanced production techniques Each product will be carefully formulated to provide a unique blend of taste, texture, and nutritional value, catering to the specific needs and preferences of discerning consumers In developing this premium line, Vinamilk has drawn upon its extensive expertise in dairy manufacturing and its deep understanding of consumer preferences The company has also collaborated with renowned nutritionists and food scientists to ensure that its products deliver optimal nutritional benefits III Apply STP in New Product:  Segmentation  Vinamilk will segment the market into two main groups: middle-income and highincome consumers Within these segments, further subdivisions can be made based on factors such as age, lifestyle, and dietary preferences  Vinamilk's recent and future direction is geared towards enhancing its product offerings and targeting middle- and high-income consumers, prioritizing higherend market segments Notably, they have introduced premium Japanese-sourced infant formula and are developing high-end soymilk products, with prices ranging from 100,000 to 120,000 VND per can This strategic shift aligns with the growing preference for plant-based milk and Vinamilk's product innovation goals  Targeting The primary target audience will be middle- and high-income consumers who prioritize health and premium quality in their dairy choices Subsegments can include young professionals, families, and health-conscious individuals But also focusing on improving the milk quality for the lower middle and lower classes, the product ranges from cheap tohigh-end products  Positioning The new dairy product will be positioned as a premium, high-nutrition choice for those who seek the best in dairy It will be marketed as a symbol of quality, purity, and excellence in dairy products IV Marketing Objectives:     V Market Share Expansion: Increase market share within the middle- and high-income segments by 10% within the first year of the product launch Brand Awareness: Raise brand awareness among the target audience by achieving a 20% increase in brand recognition in the first six months Sales Growth: Achieve a 15% increase in sales volume in the premium dairy product category within the first year Customer Loyalty: Establish a loyalty program with a goal of retaining 30% of customers for repeat purchases within the first year Marketing Mix Product Objective: Develop a line of premium dairy products that are recognized for their superior nutritional value and quality, catering to the health-conscious and affluent consumers Strategies: Market Research and Consumer Insights: Conduct in-depth market research to identify preferences, unmet needs, and consumption patterns among target consumers in the premium dairy segment Understand their willingness to pay for products with superior nutritional value and unique flavor profiles 10 Nutritionist and Food Scientist Collaboration: Partner with renowned nutritionists and food scientists to develop innovative product formulations that align with the latest dietary trends and nutritional requirements Explore unique flavor combinations and functional ingredients that enhance the product's appeal High-Quality Ingredients and Sustainable Sourcing: Prioritize the use of high-quality, locally sourced ingredients to ensure product freshness, flavor, and nutritional integrity Implement sustainable sourcing practices to minimize environmental impact and enhance brand reputation Rigorous Quality Control: Implement stringent quality control measures throughout the production process, from ingredient sourcing to packaging and distribution Adhere to international food safety standards to ensure product consistency and consumer trust Price Objective: Price premium dairy products at a level that reflects their high quality and nutritional value while maintaining affordability for target consumers Strategies: Price Sensitivity Analysis: Conduct comprehensive price sensitivity analysis to determine the optimal price point for each product Understand the price elasticity of demand and the willingness of target consumers to pay for premium products Value-Added Pricing Options: Consider bundling products together to offer valueadded pricing options Create combinations of complementary products that cater to different consumption occasions and dietary needs Dynamic Pricing Strategy: Implement a dynamic pricing strategy that adapts to market conditions, competitor pricing, and seasonal trends Utilize data analytics to optimize pricing decisions and maximize revenue Promotional Pricing Strategies: Offer promotional pricing during peak seasons, such as holidays or periods of high demand, to attract new customers and boost sales Utilize discounts, coupons, and loyalty program rewards to incentivize purchases Place: Objective: Distribute premium dairy products in channels that align with the target audience of middle- and high-income consumers, ensuring convenient access and brand visibility Strategies: Partnerships with Upscale Retailers: Establish strategic partnerships with upscale supermarkets, health food stores, and gourmet grocery outlets that cater to healthconscious and affluent consumers Leverage their established customer base and brand reputation Urban Market Focus: Prioritize distribution in urban areas with a higher concentration of target consumers Consider population density, income levels, and health consciousness when selecting retail partners 11 Direct-to-Consumer Sales: Explore direct-to-consumer sales through Vinamilk's own e-commerce platform Offer personalized shopping experiences, subscription services, and exclusive online promotions to attract and retain customers Promotion: Objective: Utilize a multi-channel marketing strategy to create awareness, generate interest, and drive sales of premium dairy products, effectively reaching target consumers with relevant messaging Strategies: Comprehensive Digital Marketing Campaign: Develop a multi-faceted digital marketing campaign that includes social media engagement, search engine optimization (SEO), and targeted advertising Utilize social media platforms to connect with health-conscious individuals, share recipes and health tips, and engage in interactive campaigns Influencer Marketing Partnerships: Collaborate with influential individuals in the health and wellness space, including nutritionists, fitness trainers, and lifestyle bloggers Leverage their credibility and reach to promote products, share testimonials, and generate buzz Health and Wellness Events: Host health and wellness events in urban areas with a high concentration of target consumers Provide educational content on nutrition, healthy eating habits, and the benefits of Vinamilk premium dairy products Offer tastings and cooking demonstrations to showcase product quality and versatility Loyalty Program: Implement a robust loyalty program that rewards repeat customers and encourages referrals Offer points for purchases, exclusive discounts, and access to special events to foster customer loyalty and brand advocacy Restaurant and Cafe Collaborations: Collaborate with popular restaurants and cafes to feature Vinamilk premium dairy products on their menus Offer special promotions and menu items that highlight the product's unique qualities and versatility Public Relations Initiatives: Engage in targeted public relations efforts to secure media coverage in health and wellness publications, lifestyle magazines, and online platforms Generate positive brand exposure and establish Vinamilk as a leader in premium dairy products VI CONCLUSION Drawing inspiration from Vinamilk’s representative , this marketing analysis delves into Vinamilk's remarkable journey as a dairy industry pioneer With its unwavering commitment to quality, innovation, and sustainability, Vinamilk has established itself as a household name in Vietnam and beyond, becoming a symbol of excellence in the dairy industry Vinamilk's success can be attributed to its unwavering focus on customer preferences and its ability to adapt to changing market dynamics The company has consistently introduced innovative products that cater to diverse consumer needs Despite its remarkable growth, Vinamilk has not been immune to challenges The COVID-19 pandemic posed significant disruptions to the company's operations, impacting supply chains and consumer behavior 12 However, Vinamilk demonstrated its resilience and adaptability by implementing effective strategies to mitigate the pandemic's impact To secure its position as a leading player in the global dairy industry, Vinamilk must continue to prioritize customer-centric strategies and embrace digital transformation opportunities By understanding the evolving preferences of consumers Vinamilk's dedication to quality and its commitment to enhancing the customer experience have been instrumental in its success The company's rigorous quality control measures ensure that its products consistently meet the highest standards, while its focus on customer satisfaction has cultivated a loyal customer base As Vinamilk continues to innovate and adapt, it is poised for continued success and growth in the competitive world of dairy products Part 3: Transcript of in depth interview Minh: Can you share with me the segmentation of Vinamilk's target audience and the main criteria for segmentation? Vinamilk representative: Vinamilk's direction in the past few years and in the future will always be to upgrade its products and target middle- and high-income consumers Vinamilk will not follow the previous path of becoming a national product but will focus on higher-end segments This is Vinamilk's general direction In recent times, Vinamilk has launched products such as high-end Japanese-sourced infant formula, which is more expensive than foreign milk products Vinamilk is also developing premium soymilk products If Fami currently costs around 40,000 VND per can, Vinamilk's soymilk segment will cost from 100,000 to 120,000 VND per can This is to serve the trend of consuming plant-based milk and the trend of Vinamilk's product development Minh: Yes, sir What are Vinamilk's marketing goals, and how are they measured (through awareness, brand, or sales and profits)? Vinamilk’s representative: In terms of marketing goals, our department currently provides tools to help sales teams achieve marketing goals Vinamilk buys Nelson's data every month to measure these goals There are many metrics, but the most important ones are sales, market coverage, key coverage, and important sales points Vinamilk also buys data from a commercial company to assess customer segments, consumption, customer feedback, and Vinamilk's market penetration This data is purchased from a third party, Nelson As for internal data, I believe Vinamilk has invested heavily in technology, especially in customer data Right now, we can open a computer and see how many sales orders are going out in Hanoi, what products are being sold, and how many units are being sold Vinamilk's technology has been invested in very well In addition to the external data we purchase, we also have internal reports from the accounting department Minh: Yes, sir My next question is, does Vinamilk have any specific marketing goals or targets set for the next year or quarter? 13 Vinamilk’s representative: I think I can't share this information because it is confidential company information Minh: Yes, sir So, can you tell me about Vinamilk's plans for marketing mix innovation, including price, place, and promotion? Can you provide any information about the marketing innovations that Vinamilk plans to implement, and whether they are related to products, prices, or promotions? Vinamilk’s representative: Actually, Vinamilk is changing its marketing methods Vinamilk's previous marketing methods were very traditional, such as buying box and getting free, or buying box of milk and getting a bowl or a pot for free These are traditional marketing methods However, recently, Vinamilk has been changing its marketing methods to retailers and consumers by applying 4.0 technology For example, at retailers, customers can earn points when they purchase products They can then spin to win prizes when they save enough points Vinamilk has placed codes on each carton of milk When customers purchase milk, they can use their smartphones to scan the codes and use the Vinamilk app to spin for prizes They can either spin for a quick win or earn points This is a new marketing method for Vinamilk and is being very well-received by consumers First, for retailers, with promotional programs such as buy box and get free, retailers often deduct the value of the promotion from the price of the product Retailers are always competing For example, they may increase the number of free products from to They then compete by lowering the price, thus eliminating all profits When retailers use a prize wheel or a point-based system, they will not know if they will win a prize, so they will be less likely to deduct the value of the promotion from the price This will help to preserve the retailer's profits Consumers are also receptive to this marketing method because it appeals to their desire for luck With a point-based system, consumers can choose their own prizes For example, 10 points can be redeemed for a pen, and 20 points can be redeemed for a backpack Vinamilk has been investing heavily in technology, both in terms of data and electronic devices, in the past months Minh: Yes, sir Our next question is about competitive analysis According to our research online, Vinamilk's biggest competitors are currently Dutch Lady and TH True Milk What you think about Vinamilk's competitive advantages over these competitors? Vinamilk’s representative: If we compare Vinamilk's competitors, it will also depend on each product, but the strongest is TH Truemilk Dutch Lady is a multinational company, also very strong, but in the Vietnamese market in the past 5-7 years, it has not been paid attention to In terms of brand, Dutch Lady has been showing signs of decline in the past 5-7 years As for TH Truemilk, when TH first launched, it had a classic marketing slogan: "Clean milk" At that time, no company could find a slogan to compete with TH with the two words "clean milk" With the two words "clean milk", TH has developed many products, but to talk about Vinamilk's competitive advantages over TH, there are quite a few Vinamilk has a system of farms, while TH only has a main farm in Nghe An And as far as I know, TH often lacks products around September to December every year TH cannot produce enough, so there will be insufficient production for fresh milk The financial resources of TH are also being affected quite a bit because behind TH is Bac A Bank Recently, Bac A Bank has had many unsecured loans, so the State Bank is now 14 scanning for these loans, which are not yet eligible for disbursement, are not guaranteed, and one of these unsecured loans is from TH Milk Company Vinamilk's system of farms is almost unmatched by any other brand at present This is because investing in farms requires a lot of capital, is very difficult to invest, and requires long-term investment It is necessary to buy land, clean the land, import cows for development, etc., so Vinamilk's farms are extremely large, so it can develop pure, premium milk lines Minh: Yes, sir Our next question is about market trends and customer insights How does Vinamilk keep up with market trends and changes in consumer preferences? Vinamilk’s representative: About this issue, there are sources, is the consumption source The consumption source comes from Vinamilk's current system Vinamilk has a system of Dream Stores across Vietnam This is a system of Vinamilk and partners investing in Vinamilk products From consuming those products, we can grasp the trends, for example, which products are selling well Second, Vinamilk has market research companies like Nelson, or agencies, and Vinamilk asks them to research the trends of consumers this year Vinamilk holds a seminar every quarter to find out from income trends to consumption trends, general consumption behavior, not just dairy products In addition, they also provide forecasts of opportunities, for example, in the past years, the trend of consumers from income, consumption culture, and living conditions has developed, so about years ago, consumers have begun to have a trend of consuming low-sugar or sugar-free dairy products, and it is true that low-sugar products have been developing very well recently Minh: Yes, sir Our next question is about implementation and execution Can you tell me how budget resources and team members are allocated to implement the plans that Vinamilk sets? Vinamilk’s representative: I can't share the budget As for Vinamilk's resources, all are deployed in the head office in Ho Chi Minh City Minh: Yes, sir A transformation campaign will face challenges or potential risks So, according to you, what challenges has Vinamilk faced and how you plan to mitigate those challenges and risks? Vinamilk’s representative: Actually, there are many risks in business For example, about 23 months ago, you may have noticed that Vinamilk changed its branding, which is a very big change These changes will face many difficulties, such as having to deal with inventory and old products From dealing with Vinamilk's inventory to dealing with the inventory of retailers, Vinamilk has a solution Before changing the packaging and branding, the company will have some steps to calculate and forecast when it needs to resolve all old items and release new ones Calculate how many old items are left in the warehouse, how many distributors, and when they will end at retailers That is, we had to predict and prepare in advance so that when the old packaging is gone, the new packaging will be released In addition, when the new packaging is released, it will have to be communicated for the new packaging, which will lead to the situation where somewhere there will be a retailer, consumers like the new packaging, and not buy the old packaging anymore And dealing with the number of old packaging products is a problem that the company is currently dealing with 15 Minh: Yes, sir The last part I want to ask you is about marketing goals We want to learn about Vinamilk's goals for the coming period, such as the scale of market expansion in the domestic and international markets in general Vinamilk’s representative: I mainly work in the domestic market As for exports, there is a separate export department As for the domestic market, as I just said, the goals are usually in the company, which will lead the whole country As for me, in the region, there will be individual goals for each region For example, in the North Central region, I set goals for sales, market share, and coverage in each month, and at the end of the month, there will be a report on that goal Minh: Yes, sir Thank you for taking the time to meet with us! 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