(LUẬN văn THẠC sĩ) enhancing consumer perceived quality a case of vinamilk infant formula milk powder

UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business NGUYEN THUY VAN ENHANCING CONSUMER PERCEIVED QUALITY: A CASE OF VINAMILK INFANT FORMULA MILK POWDER MASTER OF BUSINESS ADMINISTRATION STER OF BUSINESS (HONOURS) Ho Chi Minh City – Year 2019 TIEU LUAN MOI download : skknchat@gmail.com UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business NGUYEN THUY VAN ENHANCING CONSUMER PERCEIVED QUALITY: A CASE OF VINAMILK INFANT FORMULA MILK POWDER MASTER OF BUSINESS ADMINISTRATION SUPERVISOR: Assoc Prof Dr NGUYEN THI MAI TRANG STER OF BUSINESS (HONOURS) Ho Chi Minh City – Year 2019 TIEU LUAN MOI download : skknchat@gmail.com ACKNOWLEDGEMENT First of all, I would like to express my grateful thanks to my supervisor, Dr Nguyen Thi Mai Trang, for supporting me During the whole time of doing thesis, her advice helps me to get through all mistakes in my work Moreover, she also teachs me much more than just finishing this thesis Again, I want to say “Thank You Very Much” to my advisor for all he has done for me Secondly, I would like to use this chance to give deep gratitude to all lecturers of International School of Business (ISB) – UEH for their helping me in during my academic years at ISB I have been assisted very much in the completing of this thesis by the knowledge and skills that I have learned Furthermore, I would like to appreciate the contribution of people who help me complete the in-depth interview to share their valuable time and support me with useful information for completing this thesis Last but not least, I would like to express my special thanks to my family who always support and encourage me both physically and mentally during the time I this research TIEU LUAN MOI download : skknchat@gmail.com EXECUTIVE SUMMARY When global infant formula milk powder market gets a remarkable growth with CARG at 3.0%, especially targeting key emerging country With the fastest growth rate since 2011, Vietnam’s economy reach 7.08% of GDP in 2018 Then, Vietnam would be a competitive market for infant formula milk powder category with strong competition from domestic and foreign manufacturers Nowadays, behavior of Vietnamese consumers are changing rapidly due to development of technology and globalization Vietnam’s IFMP industry has experienced an update trends and changes as the rise of premiumizations and shifting from powder milk to drinking powder milk Then it is crucial for manufacturers to change in order to meet their target consumer’s need and want Recent year, sales revenue of powder milk has decreased with CAGR of -2% compare to 2013, while sales revenue of drinking milk powder has gradually increased Besides, volume share of Vinamilk’s IFMP also has changed among price segmentation According to the result of in-depth interviews and previous study, this study aims to figure out what the main problem is, validate the main problem, the importance of main problem This research will explore the cause of the main problem The findings of research implements that the low level of consumer’s perceived in quality leading to change in sales revenue and volume share Then the alternative solutions would be suggested to improving the low level of consumer perceived in quality TIEU LUAN MOI download : skknchat@gmail.com Contents ACKNOWLEDGEMENT EXECUTIVE SUMMARY LIST OF ABBREATIONS LIST OF TABLES LIST OF FIGURES INTRODUCTION 1.1 Company’s background 1.2 Vinamilk’s powdered milk category 10 1.2.1 PROBLEM CONTEXT 12 2.1 Global infant formula milk powder market 12 2.2 Vietnam FMCG landscape and infant formula milk powder market 13 2.3 Vinamilk’s infant formula milk powder situation in Vietnam 16 2.3.1 Sales revenue gradually shifts from powder milk to drinking powder milk (UHT) 16 2.3.2 Change in Volume Share of Vinamilk’s IFMP category 17 PROBLEM IDENTIFICATION 19 3.1 Potential problems 21 3.1.1 Inadequate product’s recognition 21 3.1.2 The low level of consumer’s perceived in quality 23 3.1.3 Market condition 24 3.2 Infant formula milk powder (IFMP) 11 Problems validation 26 3.2.1 Eliminating inadequate product’s recognition and market condition as main problem 26 3.2.2 Illuminating low level of consumer’s perceived in quality as the main problem 27 3.3 Justify the importance of low level of consumer’s perceived in quality 30 3.4 Potential causes 33 3.4.1 Less reliable source of information 33 3.4.2 Less visibility in high-end segmentation 34 3.5 Cause validation 37 3.6 Cause – and – effect tree 38 ALTERNATIVE SOLUTIONS 39 4.1 The first alternative solution: building strong positive traditional word of mouth 40 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder 4.2 The second alternative solution: building the strong positive electronic Word – of – Mouth through social media 43 4.3 Solution justification 47 ACTION PLAN IN ORGANIZATION 48 CONCLUSION 51 SUPPORTING INFORMATION 52 REFERENCES 70 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder LIST OF ABBREATIONS CAGR eWOM FGD FMCG HMO IFMP IHV KOL MAT MFGM SKU TY UHT WOM YA YTD Compound annual growth rate Electronic word of mouth Focus group discussion Fast moving consumer good Human Milk Oligosaccharide Infant formula milk powder In home visit Key opinion leader Moving annual total Milk Fat Globule Membrane Stock keeping unit This year Utra high temparature Word – of - Mouth Year ago Year to date TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder Van: What are your opinions about the effectiveness of above solutions? Could you share any alternative you think should be taken to solve this problem? Luc Nguyen: Sharing from pediatric doctors and nutrtion expert would have significant impact on decision of parents In order to expertise can be able to trust in our product and refer to their patients, we have to interact and share detail about ingredients, nutrient in our products to them When they understand about our quality, they would be confident to recommend to their passion Then, these expertise would become our brand ambassador In-depth interview 6: Interviewer: Nguyen Thuy Van Interviewee: Mr Ngan Nguyen Title: Medical field force executive Age: 30 Working experience: More than years of experience in Vinamilk Status: current working for Vinamilk as medical field force manager N.T.Van: Morning Could you introduce something about yourself and the position you are working in this company? Ngan Nguyen: Hi My name is Ngan Nguyen I have joined Vinamilk since 2017 as a Medical field force executive Van: What you think about Vinamilk’s IFMP position in Vietnam market? Ngan Nguyen: Vinamilk has established medical field force team since 2014 Compare to our competitors like Abbott, MeadJohnson and Nestle, …, we just on the way to build trust in medical aspect Our competitors have long term cooperation with health care professors Van: Can you share your opinions about business result of Vinamilk’s IFMP? 65 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder Ngan Nguyen: Recently, we have to face a huge challenge from our competitors Abbott, MeadJohnson and Nestle, … recently become more and more active by launching products with adding supplement like HMO, MFGM, Van: Could you share the reason why it changed? Ngan Nguyen: I think it would be a change in consumer They are looking for more and more premium products then manufacturers have to quickly adapt and meet their needs and wants Van: In your point of view, what is the most important problem that leads to change in sale revenue and volume share? Ngan Nguyen: In my opinion, the most important problem may be inadequate product’s recognition Doctors from big maternity hospital in Ho Chi Minh such as Tu Du, Mekong, … often recommend mother to totally feed their babies under 6th month with breast milk if enough condition Medical staffs often organize prenatal clubs to train pregnancies about nutrition for pregnancy period, preparing to give birth, feeding babies with breast milk, problems often happening for babies under years old Besides, recently, I often received questions from medical staff about ingredient of Optimum Gold such as “It is similar to breast milk, is not it?”, “Does Vinamilk have plan to adding HMOs or MFGM into Optimum Gold’s formulation like Abbott, MeadJohnson and Nestle?” Van: What are the cause of the problem? And which is the most important cause among them? Ngan Nguyen: As I mentioned before established in 2014, in medical aspect we can not compete directly to our competitors who have more experience and strong relationship with HCPs than Vinamilk 66 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder Van: What are solutions that company should to improve sales revenue and share volume? Ngan Nguyen: We should contact and build a strong connection with more and more HCPs to transfer them as our product’s representative Van: What are your opinions about the effectiveness of above solutions? Could you share any alternative you think should be taken to solve this problem? Ngan Nguyen: HCP’s recommendation has significant impact on decision of parents Then, we should establish good relationship to these people In-depth interview 7: Interviewer: Nguyen Thuy Van Interviewee: Ms Linh Pham Title: Mom of 8th month boy Age: 28 N.T.Van: Could you introduce about yourself? Linh Pham: Hi, My name is Linh I am a staff officer and a mom of a little boy 8th months Van: What you think about Vinamilk’s infant formula products? Linh Pham: In my opinion, the quality of Vietnam product can not compare to product produced in foreign countries like Euro or America After review functions of several types of milk powder, I believe in products that produces in European and American would have higher quality Besides, as reviewed from several website, the taste of Optimum Gold is slightly sweet and it is easy to cause constipation Van: Could you share the season why you refuse to buy Vinamilk’s product? Linh Pham: After giving birth, 6th months later I have to back to work and can not feed my babies with breast milk The first time being mother, I did not know how to choose an IFMP for my kid 67 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder After referring to information from forums and information channels, some people suggest that I buy Japanese milk products like Meiji, Morianna, Wakodo, etc for babies at home to use Meanwhile, some others advise me to use the line of Nan milk produced in cool Russia does not cause constipation, similar to most breast milk, so the baby does not quit breastfeeding After scanning information from several websites, I recognized that IFMP product with higher would be better for development of babies I decide to feed my baby with Nan OptiPro at price of about 200,000 VND for tin 400gr a little higher than Optimum Gold (price about 180,000 VND) but with higher quality In-depth interview 8: Interviewer: Nguyen Thuy Van Interviewee: Ms Tram Nguyen Title: Mom of 11th month girl Age: 26 N.T.Van: Could you introduce about yourself? Tram Nguyen: Hello My name is Tram Now I am a mother of 11th month girl Van: What you think about Vinamilk’s infant formula products? Tram Nguyen: Price of Vinamilk’s product is suitable to my budget for purchasing a good quality products Van: Could you share the season why you refuse or decide to buy Vinamilk’s product? Tram Nguyen: From pregnancy period, doctors always recommend me to feed my baby with breast milk if enough condition I understand the benefit of breast milk to development of babies, especially babies under 6th months; however, I can not provide enough milk for my babies Hence, I want to provide my baby a product with similar function to breast milk 68 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder However, after months I have to back to work then I have to find quality product at suitable price for my baby My friends recommend me to buy Vinamilk’s product After reviewing price and getting advice from several people, I decide to buy Dielac Alpha Gold for my kid 69 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder REFERENCES (1) Vinamilk Sustainable development report 2018 Available from: https://www.vinamilk.com.vn/ [Accessed 10th March, 2019] (2) Codex Alimentarius Commission Standard for Infant Formula and Formulas for Special Medical Purposes Intended for Infants CODEX STAN 72–108 [Formerly CAC/RS 72–1972 Adopted as a world-wide Standard 1981 Amended 1983, 1985, 1987 Revision 2007.] Available at: http://www.codexalimentarius.net/download/st andards/288/CXS_072e.pdf (3) Available from: https://www.nielsen.com/ [Accessed 10th March, 2019] (4) Market Reseach report Global infant formula milk powder forecast 2023 Available from: https://www.marketresearch.com/ [Accessed 10th March, 2019] (5) Available from: https://www.euromonitor.com/ [Accessed 10th March, 2019] (6) Available from: https://www.gso.gov.vn [Accessed 10th March, 2019] (7) Available from: http://kantarworldpanel.com/ [Accessed 10th March, 2019] (8) Karuna N Breastfeeding still best for infants and mothers Available from: https://www.unicef.org/ [Accessed 10th March, 2019] (9) Available from: https://abbottnutrition.com/ [Accessed 10th March, 2019] (10) Available from: https://www.nestle.com/ [Accessed 10th March, 2019] (11) Available from: https://www.frieslandcampina.com/en/ [Accessed 10th March, 2019] (12) MeadJohnson Nutrition What is MFGM? Available from: https://www.meadjohnson.com/ [Accessed 15th March 2019] (13) Alhaddad A Perceived Quality, Brand Image and Brand Trust as Determinants of Brand Loyalty Journal of Research in Business and Management 2015; 1-8 (14) Veale R., Quester P Do consumer expectations match experience? Predicting the influence of price and country of origin on perceptions of product quality International Business Review 2019, 18 134-144 (15) Armstrong and Kotler Principle of Marketing Prentice Hall, 2010 70 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder (16) Nielsen Moving on up: Premium product are in high demand around the world Available from https://www.nielsen.com [Accessed 30th March, 2019) (17) Kantar Worldpanel Report on growing shopping channel in Vietnam [presentation] Kantar Worldpanel Vietnam April, 2019 (18) Nielsen Modern format stores capturing Vietnamese shopper trips Available from: https://www.nielsen.com [Accessed 30th March, 2019) (19) Nielsen Syndicated nielsen affluent study helps to court your affluent consumers Available from: https://www.nielsen.com [Accessed 30th March, 2019) (20) Nielsen MT store number update [presentation] The Nielsen Company Sept, 2018 (21) Daugherty T, Hoffman E eWOM and the importance of capturing consumer attention within social media Journal of Marketing Communications 2014; 20 (12): 82–102 (22) Armelini G The Effect of Word of Mouth in customer equity and brand equity Chinese Business Review 2011; 10(3): 2015-216 (23) Susilowati C., Sugandini D Perceived value, eWord-of-Mouth, Traditional Wordof-Mouth, and Perceived quality to destination image of vacation tourists Review of Integrative Business and Economic Research 2018; (1): 312-320 (24) Park C., Wang Y., Yao Y., Kang Y Factors influencing eWOM effects: Using experience, credibility and susceptibility International Journal of Social Science and Humanity 2011; 74 – 78 (25) Henning-Thurau T., Gwinner K., Walsh G., Gremler D Electronic word-of-mouth via consumer-opinion platform: What motivates consumers to articulate themselves on the Internet? Journal of Interactive Marketing 2004; 18 (1): 38 – 52 (26) Kaplan, A M, Haenlein, M Users of the world ,unite! The challenges and opportunities of social media Business horizons 2010; 53(1): 59-68 (27) BrandNow.Asia Key Opinion Leaders: Who Are They and Why Do Brands Need Them? Available from: http://www.brandnow.asia/ [Accessed 1st June 2019] 71 TIEU LUAN MOI download : skknchat@gmail.com (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder (LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder(LUAN.van.THAC.si).enhancing.consumer.perceived.quality.a.case.of.vinamilk.infant.formula.milk.powder