Asian marketing management marketing management for vinamilk

VIETNAM GENERAL CONFEDERATION OF LABOUR TON DUC THANG UNIVERSITY FACULTY OF BUSINESS ADMINISTRATION - Asian Marketing Management Marketing Management for Vinamilk Lecturer: Mr Hoang Kim Chuong Group members Nguyen Pham Bang Bang 719V0147 Tran Phuong Uyen 719V0135 Vo Tan Lac Thien 719K0137 Nguyen Van Tuan 719K0142 Le Thi Van Truc 719V0145 Huynh Bao Ngoc 719V0130 Group 05 Shift 02 Saturday Class: 19K70401 Ho Chi Minh City, December 2021 0 Individual task No Student ID Name Tasks 719V0130 Huynh Bao Ngoc 719V0135 Tran Phuong Uyen 719V0145 Le Thi Van Truc 719V0147 Nguyen Pham Bang Bang 719K0137 Vo Tan Lac Thien - 4.1 Budget proposal & approval 100% 719K0142 Nguyen Van Tuan - Edit and synthesis the Final Report - 4.2 Details action plan 100% - Chapter Define Objective - 2.1 Market potential evaluation - 2.2 SWOT analysis - 2.3 Marketing hypothesis - 3.1 Strategic objectives and plan - 3.1 Strategic objectives and plan - 3.2 Revenue projection and tactical plan - 3.3 Contingency plan 0 Contribution 100% 100% 100% 100% Asian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilk Asian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilk Contents Chapter Define Objective 1.1 Company’s mission 1.2 Company’s objective Chapter Marketing Analysis .4 2.1 Market potential evaluation .4 2.2 SWOT analysis 2.2.1 Strengths 2.2.2 Weaknesses 2.2.3 Opportunities 2.2.4 Threats 2.3 Marketing hypothesis 10 Chapter Developing Marketing Strategy And Plan 11 3.1 Strategic objectives and plan 11 3.2 Revenue projection and tactical plan .11 3.3 Contingency plan .11 3.3.1 Many competitors enter the market 11 3.3.2 The source of input materials is not stable 12 3.3.3 Vietnamese customers tend to prefer foreign milk 13 Chapter Resource Management Strategy Monitoring 14 4.1 Budget proposal & approval 14 4.2 Details action plan 17 Reference 18 0 Asian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilk Asian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilk Chapter Define Objective 1.1 Company’s mission The mission statement of Vinamilk reads, “To deliver the valuable nutrition to the community with respect, love and responsibility.” The vision statement of Vinamilk reads, “To become a world grade brand in the food and beverage industry, where people put all their trust in nutrient and health products.”Vinamilk focuses all resources to build the dairy and food company with health benefits By building strategic product lines with a long-term competitive advantage, Vinamilk has become the company's rapid growth and most sustainable Vinamilk is constantly diversifying product lines, expanding the distribution territory in order to maintain the leading position on the domestic market Vinamilk concentrates all resources to become a dairy and food company with healthy and rapid growth, Vietnam's most sustainable building strategies by-product lines have competitive advantages long term Vinamilk would like to become the most favorite product of all regions, territories So, Vinamilk minds that quality, creativity is a companion of the company and see customer-centric and committed to meeting the needs of customers 1.2 Company’s objective 0 Asian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilk Asian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilk Vinamilk constantly develops production activities, trade and services in the area's business activity in order to maximize profits that can get the company to shareholders, enhance the value of the company and not constantly improve and raise the living standards, working conditions and incomes for workers, and fulfill their obligations to the State budget Besides, the company mounted a processing industry with raw materials in order to increase the independence of the materials in the present and future In addition, Vinamilk has many customer gratitude programs, so it attracts large customers to consume products To become a business with a working environment in which employees can bring out their full potential, contribute to common achievements, and become one of the top businesses that employees consider ideal to work for Building a long-term and sustainable development goal for major domestic and foreign suppliers is Vinamilk's main goal to ensure a stable supply of raw materials not only in high quality but also at low prices The prices are very competitive The milk obtained from the farms always meets the quality standards Building the best quality because customers are the final destination of the company The company's goal is to diversify products and develop into a strong corporation in Vietnam through building a system of stylish products 0 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Asian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilk Chapter Marketing Analysis 2.1 Market potential evaluation Constantly affirming its position globally, Vietnam Dairy Products Joint Stock Company (Vinamilk) is the only representative of Southeast Asia to participate in global rankings, according to Brand Finance's annual report on the most valuable and most vital brands in the food and beverage industry in 2021 (Kim Anh, 2021) Specifically, Vinamilk is the only representative of Southeast Asia in the top 10 most valuable dairy brands globally in 2021 with 8/10 Vinamilk's brand value is valued at nearly 2.4 billion USD, up to 12% compared to 2020 In addition, Vinamilk is also one of the three most potential brands of the dairy industry globally, with the second-highest score This is a significant result when it shows the development potential of Vinamilk in the challenges posed by the pandemic to businesses and the dairy industry globally (Kim Anh, 2021) Not only achieving high rankings in the dairy industry, but according to this report, in the food industry, Vinamilk has also conquered two rankings as the top strongest food brands in the world and the top 30 of the 100 most valuable food brands globally with 27th position, increase sharply to places compared to 2020 Before that, Vinamilk has also appeared in many prestigious world rankings with high rankings Most recently, Vinamilk was ranked 36th in the top 50 dairy companies globally in terms of revenue and the only representative of Southeast Asia (Kim Anh, 2021) In 2020, export revenue reached more than 5,500 billion VND, up to 7.5% compared to 2019 In the first six months of 2021, Vinamilk's export activities recorded double-digit revenue growth, reaching nearly 2,800 billion VND, a rise of 13.1% compared to 2020 (Kim Anh, 2021) It can be said that behind the success of international business contracts worth millions of dollars is a combination of seizing growth opportunities and affirming business reputation These two factors show Vinamilk's business bravery during 25 years of international "war" and especially the "fire test" period lasting nearly two years when the Covid-19 incident occurred With the motto of taking quality - price - 0 Asian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilk world, Vinamilk constantly invests in expanding its scale both at home and abroad Vinamilk currently has subsidiaries and affiliates in the US, New Zealand, Cambodia, Laos and most recently a joint venture in the Philippines with partner Del-Monte, a leading food and beverage company In order to effectively expand market share, Vinamilk should invest 30% of total costs in activities such as conducting market research on the behavior and consumption habits of target customers in Southeast Asia Then, we need to analyze the data and make a decision as to how the consumer needs of the target customers are at different levels From there, unify marketing activities for products in the region to effectively raise brand awareness Vietnam's dairy market is increasingly diversified in product categories, however, liquid milk and powdered milk are still the two largest products today In particular, it can be said that Vinamilk is an enterprise with comprehensive development in both these major product lines and has been leading the market for many consecutive years In its portfolio, Vinamilk currently has nearly 250 products of all kinds, the liquid milk industry alone owns nearly 50 types of products, meeting almost all the nutritional needs of consumers who are becoming increasingly diversified According to Mr Phan Minh Tien - Marketing Executive Director of Vinamilk, “liquid milk is a key product that Vinamilk focuses on investing in” In addition to ensuring the quality and high nutritional value of products, Vinamilk will focus on diversifying liquid milk product lines to suit customers of all ages, segments and development selectively high-end product lines (Vinamilk, 2021) The strategy of diversifying product lines is also a necessary factor because the consumer needs of customers are increasingly diverse and complex, so if handled well, this will definitely help increase revenue in a maximum way best However, in order to fight against the bad effects of the COVID-19 pandemic, we recommend Vinamilk spend 20% on research and produce a nutritious drink to help strengthen the immune system and support infected people’s quick recovery This is very practical at the moment, so if Vinamilk can it, it will leave a glorious mark in the hearts of consumers, and at the same time have a profound meaning for the community 0 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Asian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilk According to Thien Duc (2021), the Covid-19 epidemic with recent outbreaks has affected all subjects in society, including children Currently, according to incomplete statistics from provinces, cities and the whole country, there are nearly 2,500 unfortunate children orphaned due to Covid-19 Tens of thousands of children have fallen into difficult circumstances because of the direct impacts of the pandemic In addition, the pandemic has left many long-term effects on children such as psychological effects, educational conditions, and interruption of care Contributing to the "green area of hope" for a healthy Vietnam implemented during the outbreak of the 4th wave of Covid-19, the campaign "Healthy Friends, Healthy Vietnam" has received a response and spread by meaningful messages and many practical community activities, aimed at taking care and protecting children such as vaccines for children, support for orphans because of the pandemic, nutritional care for children in difficult circumstances Vinamilk is an enterprise that actively implements programs aimed at children During the years of the outbreak, Vinamilk has promoted child care activities such as the Vietnam Tall Tall Milk Fund (with 3.4 million glasses of milk equivalent to 25 billion VND in 2020 and 2021); supporting hundreds of thousands of milk cartons for children in concentrated isolation places; financial support for many cases of children having heart and eye surgery in difficult circumstances As we can see, Vinamilk has carried out its activities during the year very well and effectively, our team recommends that they continue to maintain activities for the community at a cost of 10% The final 5% cost that we suggest Vinamilk should prepare for is the additional costs incurred while operating the business We always have to be well prepared for worst-case scenarios so that they don't happen The activities can be mentioned as the contingency plans that we mentioned earlier, problems in the system that need to be repaired, compensation for damage to customers if there are any errors in the product or shipping process Everything needs to be done optimally to make sure that Vinamilk is operating and using the investment costs of operations effectively 0 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Asian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilk 4.2 Details action plan After completing business activities in 2021, we suggest Vinamilk allocate business development expenses for the next quarters in 2022 according to the following priority ratios: Producing fresh milk with modern equipment and advanced technology Vinamilk Dairy Factory is equipped with pasteurized fresh milk production line with modern equipment and leading advanced production technology today The factory operates on an automatic from input material to product output Fresh milk, after being checked for quality and through measuring and filtering equipment, will be entered into the cold storage system (150 m3/tank) From the cold storage tank, raw milk will go through the processing stages: centrifugation, homogenization, pasteurization, cooling down to oC and transfer to the tank ready for UHT sterilization processing UHT Sterilization: The advanced pasteurization system heats the milk up to 140 oC, then the milk is rapidly cooled down to 25 oC, preserving the natural flavor and nutritional components, vitamins & minerals of the product Milk is transferred to a sterilized tank waiting for aseptic filling into sterilized packaging Thanks to the combination of factors: advanced processing technology, UHT sterilization technology and aseptic filling technology, the product can keep its fresh taste for months without preservatives Vinamilk has The top smart warehouse in Vietnam, with an area of 6000 m2 with 20 entry and exit gates, 105 meters long, 35 meters high, including 17 floors with a capacity of 27168 lots Import and export goods automatically with 15 RGV (Rail guided vehicle) transporting finished goods to the warehouse and 08 Robot Crane (Stacker Crane) arranging goods into the shelf system The management of import and export goods is done based on Wamas software The operating system is based on the automation solution Tetra Plant Master, allowing to connect and integrate the entire plant from input materials to finished products As a result, the factory can control all activities taking place in the factory, monitor and control the quality continuously The Tetra Plant Master system also 0 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Asian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilk provides all the necessary data to enable the plant to continuously improve production and maintenance operations Expanding market share in Southeast Asia With a new market, local consumption habits and brand recognition are two most important factors Therefore, Vinamilk needs to make more efforts to understand the characteristics of consumption in the local market, research and launch suitable products to promote development in new markets Vinamilk is looking for opportunities to expand sales in Southeast Asia markets such as Myanmar and Indonesia through the establishment of Joint ventures with local companies Besides the traditional products of condensed milk and powdered milk, yogurt is a product line that Vinamilk focuses on promoting in the international market The yogurt industry will lead the growth in Southeast Asia in the coming years This is because consumers are more and more concerned about their own health, switching to using products with high nutritions The population structure in Indonesia and Myanmar is quite similar to that of Vietnam as both are potential markets for dairy producers, meeting the needs for the development of the dairy industry In addition to the large population, the population growth rate in Myanmar is 0.87%/year, in Indonesia is 1.12%/year Milk consumption per capita in these two countries is almost the lowest compared to other countries in Southeast Asia, only about 10-11 liters/person/year compared to the consumption of 22 liters/person/year in the Philippines or Singapore with 45 liters/person/year The challenge for Vinamilk in these markets is to raise people's awareness about consuming dairy products, especially industrial dairy products that have been certified for high quality instead of using handmade traditional dairy products with low quality At the same time, promote brand promotion and take advantage of the existing distribution system from partners to introduce their products to consumers Vinamilk Diversification Strategy 0 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Asian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilk Chapter Developing Marketing Strategy And Plan 3.1 Strategic objectives and plan 3.2 Revenue projection and tactical plan 3.3 Contingency plan Every business is able to occur in situations that adversely affect operations If the response to the problem is poor, it can have a big impact on the future of the business, such as loss of customers, loss of data, or even loss of business (Lam Anh, 0 2019) Besides opportunities, Vinamilk also needs to face some challenges The main challenges in the SWOT analysis and how we recommend the contingency plan can be Asian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilk challenges in the SWOT analysis and how we recommend the contingency plan can be Asian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilkAsian.marketing.management.marketing.management.for.vinamilk listed as follows: 3.3.1 Many competitors enter the market According to Misa (2021), the increasing demand for milk products leads to the emergence of new competitors With a long-standing brand like Vinamilk, this is both an opportunity and a big challenge Currently, Vietnamese consumers are facing many choices of dairy products Especially foreign brands are landing in Vietnam, leading to Vinamilk's position in the market gradually "shaken" Some of Vinamilk's main competitors can be mentioned such as TH True Milk and Dutch Lady The increase in the number of competing companies causes many potential risks for Vinamilk such as reducing the variety of dairy products, difficulty in maintaining loyal customers, loss of market shares Because of these reasons, we recommend Vinamilk should conduct more campaigns and marketing strategies to increase brand awareness and also brand loyalty Social media will definitely be an important part of the strategy, as this is the best place to directly interact and engage with customers We can find out where our target customers usually talk and we listen to what they share That's the most natural way to reach out and share with them what we can help with Posting photos, investing in content creation and growing Vinamilk hashtags We need to show up at the right time and interact appropriately with the customers – they will sense our sincerity Besides that, awareness also means being at the top of search rankings People tend to use Google for all sorts of purposes and of course, that also includes searching for 0 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We recommend Vinamilk need to check the keywords that our target customers often use to find information Then we can add in headers, tags as well as all the online content It is also an effective way to enhance brand awareness (Kate Vu, 2016) 3.3.2 The source of input materials is not stable Another challenge that Vinamilk faces is the unstable source of input materials Despite owning international standard dairy farms, Vinamilk's raw materials still depend on imports In addition, because the profit from livestock production is not high, farmers tend to switch jobs This has created great pressure on Vinamilk, requiring the brand to focus on developing domestic raw materials, avoiding dependence on imported materials from abroad (Truc Mai, 2021) To meet the needs of domestic consumption and export, Vinamilk's material area development projects are still being implemented on schedule Typically, the successful reception of 2,100 purebred HF dairy cows imported from the US to Vinamilk's new farm in Quang Ngai This is a new farm with a scale of 4,000 children, an area of over 100 hectares with a total initial investment of up to 700 billion VND located in the "Green Farm" ecological farm system that Vinamilk is investing and developing According to the 0 plan, the company will also import more than 5,000 high-yielding dairy cows to i th t t l h d f f j t I 2021 Vi ilk h f d i ti i 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