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Acecook Vietnam Joint Stock Company with nearly 30 years of establishment and development, Acecook brand is constantly growing to become a leading general food company, always standing f
lOMoARcPSD|39459588 UNIVERSITY OF ECONOMICS AND FINANCE HO CHI MINH CITY FINAL TERM REPORT SUBJECT: MARKETING CHANNEL MANAGEMENT LECTURER: NGUYEN DANG HUY VU GROUP 8 Ho Chi Minh, December 30th, 2022 Downloaded by NHIM NHIM (nhimbien2@gmail.com) lOMoARcPSD|39459588 GROUP WORK PEER EVALUATION FORM Course 1B Group 8 KPI Team Role Full Contribution NO & Attitude name Cooperation with Others Focus & Commitments Team role fullfillment Ability to communicate Accuracy Total Score Vuong 1 Van Part 4/Slide 3 3 4 4 4 4 22 Hieu Tran 2 Khanh Part 2 3 3 4 4 4 4 22 Linh Hoang 3 Slide/Presentation 3 3 4 4 4 4 22 Long Nguyen 4 Thi Kieu Part 3 3 3 4 4 4 4 22 My Doan Part 1/Final 5 Viet 3 3 4 4 4 4 22 Report Tung Downloaded by NHIM NHIM (nhimbien2@gmail.com) lOMoARcPSD|39459588 Acknowledgments We would like to express our deep gratitude to the University of Economics and Finance in Ho Chi Minh City HCM, especially the Faculty of Marketing has included Distribution Channel Management in the curriculum and training The department has given the group a lot of useful knowledge and is the foundation for the group to continue learning and practicing the next set of modules in the school's training program And above all, the group would like to thank the lecturer of the subject – Mr Nguyen Dang Huy Vu, who directly teaches, imparts useful experience and knowledge to the group He facilitated and assisted the team in completing this end-of-term report Thank you very much for your enthusiasm Thank you for the companionship of the team members – students of Ho Chi Minh City University of Economics and Finance HCM Distribution Channel Management is a very good subject, highly useful, ensuring knowledge and meeting practical needs for students This is also a great baggage for the group to be more stable on the path of each team member However, there is no denying the difficulty of the subject, but the group's understanding is still limited, so this report will inevitably be flawed, I hope you will consider and comment to make the group's report more complete Thank you! I wish you a lot of health and a more brilliant teaching career in the future Downloaded by NHIM NHIM (nhimbien2@gmail.com) lOMoARcPSD|39459588 1 Introduction 1.1 About Acecook 1.1.1 Acecook Overview Established on 15/12/1993 and officially put into operation since 1995 Acecook Vietnam Joint Stock Company with nearly 30 years of establishment and development, Acecook brand is constantly growing to become a leading general food company, always standing firm in the Vietnamese market Currently, there are more than 50 instant noodle manufacturers in Vietnam with 70% market share belonging to Acecook Vietnam, Masan and Asia Food In particular, Acecook Vietnam has always led the market share with about 50% in urban areas and 43% across the country Acecook's products are now available at supermarkets, retail stores, grocery stores across 63 provinces and cities across the country and exported to about 40 countries around the world, including countries famous for strict and strict food safety such as America, Japan, Australia, Canada, Germany, France, Korea 1.1.2 History and development 1993: Established Vifon Acecook joint venture company (12/15/1993) 1995: Officially sold the first product is High-class brand in Ho Chi Minh City 1996: Entered the US export market and established Can Tho branch 28/02/1996 1999: Achieved the title of High Quality Vietnamese Goods for the first time 2000: Hao Hao flavored sour and spicy shrimp was born A new breakthrough created the company's leap into the market 2003: Completed the factory system from North to South Downloaded by NHIM NHIM (nhimbien2@gmail.com) lOMoARcPSD|39459588 2004: Officially changed its name to Acecook Vietnam Co., Ltd Relocate the factory to Tan Binh industrial park 2005: Entered the ready-to-eat rice market Built a factory in Vinh Long, launched Pho Xua & Nay 2008: Renamed to Acecook Vietnam Joint Stock Company (18/01/2008) Official member of the World MAL Association 2012: Inauguration of Ho Chi Minh 2 factory in Southeast Asia 2015: Acecook Vietnam Joint Stock Company Change the new brand identity 2018: Hao Hao is confirmed as a Guinness Vietnam Record as a product with the most sales volume in Vietnam in 18 years (2000 – 2018) 2020: Acecook has 7 branches with more than 300 agents nationwide and exports to more than 40 countries 1.1.3 Vision and Mission Acecook Vietnam's business philosophy is "Through the culinary path to contribute to Vietnamese society" With this philosophy, Acecook has contributed to improving and developing Vietnam's food industry by producing and trading high-quality ready-to-eat foods In addition, they also actively export products that bring Vietnamese culture to the world during the 27 years since their establishment to be able to transform themselves to the world, maintaining their position in the hearts of consumers The mission of "Providing high quality products/services brings Health – Safety – Peace of Mind to customers" along with the vision of "Becoming the leading food manufacturer in Vietnam, with enough management capacity to adapt to the globalization process" Downloaded by NHIM NHIM (nhimbien2@gmail.com) lOMoARcPSD|39459588 1.1.4 Cook Happiness – Core Values Happy Customers: Acecook Vietnam will always strive to make customers and users of Acecook products feel happy Happy Employees: Acecook Vietnam always strives to make Acecook employees and their families feel happy Happy Society: Acecook Vietnam always strives to make the whole society feel happy 1.2 About Hao Hao Noodles 1.2.1 History In September 2000, Hao Hao Noodles was officially launched with the first two flavors, chicken and mushroom By July 2002, the sour and spicy shrimp flavor of the noodles was released and became popular 1.2.2 Development process First appeared on the market in 2000 by Acecook Vietnam, after 20 years of continuous efforts to improve quality, Hao Hao has successfully maintained the leading position in "The most chosen instant noodle brand" (2012 – 2019) In addition, Hao Hao also created more flavors, many new models to meet the expectations and needs of consumers So far, Hao Hao has produced many different flavors such as pork chops, sweet and sour fried shrimp with a price of only 3,500 VND, very suitable for the budget but still ensures minimal nutrition for consumers Downloaded by NHIM NHIM (nhimbien2@gmail.com) lOMoARcPSD|39459588 1.2.3 Core Values "Japanese quality for delicious meals" – The slogan is taken by Hao Hao as the motto of the brand in particular and Acecook in general At the heart of all activities As a core value in the production and trading of safe and high-tech products and foods that meet the needs of consumers Downloaded by NHIM NHIM (nhimbien2@gmail.com) lOMoARcPSD|39459588 2 Marketing Channel Analysis 2.1 What are the available segments for your chosen product/service? Segment 1: Student Segment 2: Rural/city consumers (usually families) 2.2 What is the structure of channel your chosen product or service currently using? Acecook's supply chain is built in a closed system, optimized in overall management from raw material import operations, finished product production, semi-finished products to distribution and retail The company cooperates with many shipping service providers to build warehouse management systems, order management, distributors, human resources Acecook has created a nationwide marketing and distribution system with more than 700 tier 1 agents through 7 main business branches, spread throughout the country Each area has a representative office/branch in big cities such as Hanoi, Ho Chi Minh, Can Tho For its product distribution strategy through retail channels, Acecook has sold Hao Hao Noodles products at supermarkets and retail stores to distribute directly to consumers Downloaded by NHIM NHIM (nhimbien2@gmail.com) lOMoARcPSD|39459588 Figure 2.1 Acecook's Hao Hao Noodle distribution model 2.2.1 Distribution model of “Hao Hao Noodle” Hao Hao Noodles has chosen many different forms of distribution channels to bring products to consumers, but mainly still distributes according to the dealer system (wholesale), the business selects many wholesalers (Level 1 agents) and the task of these wholesalers is to distribute to subordinate wholesalers and then cover retail stores When customers have a need, the above stores will notify wholesalers, and this business will provide products in the form of sell-offs The advantage of this model is that the investment capital is not high, suitable for strong brands favored by the market However, if there are any problems with the product (such as product quality problems), then surely the manufacturer's ability to push the goods down to the distribution levels will be affected On the other hand, due to distribution according to demand, products reaching consumers will be fast and slow at times Downloaded by NHIM NHIM (nhimbien2@gmail.com) lOMoARcPSD|39459588 In addition, the distribution channel "Manufacturer → Retailer → Consumer" is also focused by Acecook company to consume Hao Hao Noodles 2.2.2 Member selection Due to today's general consumption trend of Vietnamese people is getting closer and closer to modern distribution channels such as supermarket, buffet shop Therefore, Hao Hao has implemented a strategy of distributing its products through these retail channels Products are delivered to consumers through just one retailer Specifically, Hao Hao is sold at retail supermarkets such as Big C, supermarket chain Co-op Mart, Maximax system These supermarkets distribute products directly to the end user, by allowing consumers to choose their favorite and suitable items and product lines This distribution channel is focused on the end consumer, consumed in small but frequent quantities Thus, the distribution strategy of Hao Hao Noodles is to expand the market, expand agents, gradually increase the quantity and quality of distribution channels Downloaded by NHIM NHIM (nhimbien2@gmail.com) lOMoARcPSD|39459588 2.3 Does the firm operate through a multi-channel strategy? How the firms allocate channel functions? 2.3.1 Advertisement: Online Advertisements In order to bring the product to the most visible consumers, Acecook has put its products advertised on TV channels such as HTV7, HTV9 and radio In addition, businesses also invest heavily in advertising in posters on the street or website Typical promotions such as "Eat Hao Hao, crazy rich", "Billionaire Hao Hao", have received positive feedback from consumers Acecook regularly organizes social activities such as "Tet reunion", activities to support people in the Central region affected by floods, 2.3.2 Supermarkets, retail outlets, traditional markets Specifically, Hao Hao will be sold at supermarkets and retail stores to distribute products directly to consumers Here customers can freely choose the items and product lines that they love and are most suitable 2.4 How well does this channel system could to meet target customer segments' demands for channel benefits? This analysis is based on the two customer groups we mentioned above: 2.4.1 Student Demand: Bulk breaking → High Spatial convenience → High Waiting time → High Downloaded by NHIM NHIM (nhimbien2@gmail.com) lOMoARcPSD|39459588 The channels that serve this customer base are local retailers (grocery stores, convenience stores, ) Acecook's distribution system has high coverage nationwide, meeting the needs of this group of customers quickly and conveniently 2.4.2 Rural/city consumers (Usually families) Demand: Bulk breaking → Medium Spatial convenience → Medium Waiting time → Medium Customer service → Medium This group of customers usually buys 1 carton at a time and buys monthly This group often buys goods at supermarkets, groceries with the desire for a good price Acecook's distribution system has low-end agents, supermarkets and groceries across the country that can ensure the needs of this group of customers Downloaded by NHIM NHIM (nhimbien2@gmail.com) lOMoARcPSD|39459588 3 Suggested Improvements 3.1 Advantages The company's current distribution channel system is generally quite reasonable, taking into account the market's size, the nature of the product, and the company's financial resources Sales have risen steadily as a result of the active and efficient activities of channels like promotions and lucky draws held on special occasions The main market share has also been developed, and the target market has been secured Mining pepper commands the majority of the market At the moment, the business is working to increase the depth and breadth of its distribution channel system ng The business enjoys a positive rapport with both you and your friends who are channel members 3.2 Disadvantages After several decades of operation, the company has seen remarkable success, and its products are available in the majority of provinces and cities, but there is still a problem with its distribution strategy that needs to be resolved Conflicts between channel participants are a common problem in the distribution of goods The company must deal with new members entering the lung distribution network Such an occurrence lowers the effectiveness of distribution activities, which harms the company's reputation Conflicts over prices and business locations are the most frequent Additionally, some agents continue to have poor management capabilities and operations, which makes it difficult to distribute products made of chalk Downloaded by NHIM NHIM (nhimbien2@gmail.com) lOMoARcPSD|39459588 3.3 Solution The distribution system management team must be an experienced team that handles situations skillfully in many cases There are many flexible discount policies for each member with different characteristics Expanding distribution channels but not rampant → carefully filtering points of sale based on the following criteria: Population level; Naperture; Consumer microaggressions Encourage channel members to operate productively with the support of many benefits from the manufacturer Downloaded by NHIM NHIM (nhimbien2@gmail.com) lOMoARcPSD|39459588 4 Conclusion In the course of business activities, Acecook Vietnam Joint Stock Company has made many contributions to the Vietnamese economy The products Acecook provides to consumers are of high quality at a low price Facing today's integrated and developed economy has opened up many opportunities for the company, besides still full of difficulties that Acecook needs to face, need to come up with appropriate strategies to survive and develop One of the best ways to do that requires improving the quality of the distribution channel system Through the analysis, it can be seen that the company's distribution channel system in the present has many advantages, but also reveals the limitations encountered Therefore, the issue of completing the company's distribution channel system in this period is necessary, in accordance with the current economic situation The stage of completing the company's distribution channel system to meet the needs of the market in the coming period is very difficult, long-term and costs a lot, requiring a lot of effort of all members of the company and members of the channel Therefore, Acecook needs to have plans and preparations to do this well to improve the consumption of its products, contributing to helping the company stand firm in the market and grow stronger Downloaded by NHIM NHIM (nhimbien2@gmail.com) lOMoARcPSD|39459588 Bibliography Acecookvietnam [Online] https://acecookvietnam.vn/ Wiki [Online] Hao Hao Noodles https://vi.wikipedia.org/wiki/Hảo_Hảo Downloaded by NHIM NHIM (nhimbien2@gmail.com)