SITUATION ANALYSIS 2.1 Market summary 2.1.1 TargetMarket Geographics- MarketsegmentationbygeographyofBinhMinhPlasticCompany:1... Market segmentation by region:- TheSouth:Key
Trang 1THE MINISTRY OF FINANCE
UNIVERSITY OF FINANCE – MARKETING
MARKETING MANAGEMENTMIDTERM EXAM ASSIGNMENT
Lecturer:TeacherBaoTrung GROUP8:HuỳnhGiaHân–2121013151ÔnQuốcHùng-2121013046NguyễnĐứcMạnh-2121013188TrươngCôngQuốcAnh–2121012933
Trang 21 EXECUTIVE SUMMARY
- BìnhMinhPlasticCompanyisaleadingmanufactureranddistributorofplasticproductsbasedinVietnam.Withastrongpresenceinthelocalmarketandanexpandinginternationalfootprint,thecompanyhasestablisheditselfasatrustednameintheplasticindustry.
-Company Overview:
BìnhMinhPlasticCompanywasfoundedin1990withtheaimofproducinghigh-qualityplasticproductsforvariousindustries.Overtheyears, the company has grown significantly and now operatesmultiple manufacturing facilities equipped with state-of-the-arttechnology.Thecompany'sproductportfolioincludesawiderangeofplastic items such as packaging materials, household products,industrialcomponents,andagriculturalsupplies.
-Market Position:
BìnhMinhPlasticCompanyholdsaprominentmarketpositioninVietnam's plastic industry The company's commitment to quality,competitivepricing,andcustomersatisfactionhasenabledittobuildastrong customer base across different sectors Bình Minh PlasticCompanyhasalsoexpandeditsoperationstointernationalmarkets,leveraging its expertise and reputation to capture new businessopportunities.
-Key Strengths:
Diverse Product Range: Bình Minh Plastic Company offers acomprehensiverangeofplasticproducts,cateringtotheneedsofvarious industries This diversity provides the company with acompetitiveadvantageandallowsittotapintomultiplemarketsegments.
ManufacturingExcellence:Thecompany'smodernmanufacturingfacilities and advanced technology ensure efficient productionprocesses and consistent product quality Bình Minh PlasticCompanyadherestostringentqualitycontrolmeasures,complyingwithinternationalstandardsandregulations.
Strong Distribution Network: Bình Minh Plastic Company hasestablished a robust distribution network, enabling it to reachcustomers across Vietnam and beyond The company has builtstrongrelationshipswith distributors,wholesalers, and retailers,ensuringwidespreadavailabilityofitsproducts.
Commitment to Sustainability: Bình Minh Plastic Companyrecognizestheimportanceofenvironmentalsustainabilityandhas
Trang 3implementedinitiativestominimizeitsecologicalfootprint.Thecompany actively promotes the use of recycled materials andinvests in research and development to develop eco-friendlyproducts.
Customer Focus: Bình Minh Plastic Company places greatemphasison understandingandmeetingcustomerrequirements.The company engages in regular market research, collaboratesclosely with clients, and provides excellent customer service,resultinginlong-termpartnershipsandcustomerloyalty.
-Future Outlook:
BìnhMinhPlasticCompanyiswell-positionedforcontinuedgrowthandsuccess.Thecompanyaimstofurtherexpanditsinternationalpresence,exploringnewmarketsandforgingstrategicpartnerships.Bình Minh Plastic Company also plans to invest in research anddevelopmenttoinnovateandintroducenewproductsthatalignwithevolvingcustomerpreferencesandsustainabilitygoals.
2 SITUATION ANALYSIS 2.1 Market summary
2.1.1 TargetMarket
Geographics
- MarketsegmentationbygeographyofBinhMinhPlasticCompany:
1 Domestic market:
- KeyMarket:Over80%Revenue
BinhMinhPlastic'skeymarketisasignificantcontributortoitsrevenue,accountingforover80%.
This market segment plays a crucial role in the company'sfinancialsuccess.
- WideDistributionNetwork:
NationwidePresence:BinhMinhPlastichasestablishedawidedistributionnetworkacrossthecountry.
More than 1,200 Stores: The company operates over 1,200storesnationwide,ensuringbroadmarketcoverage.
Trang 4 ExtensiveReach:ThisextensivedistributionnetworkenablesBinh Minh Plastic to reach customers efficiently andeffectively.
- PotentialMarketGrowth:
Increasing Demand: The market for plastic products isexperiencingarisingdemandtrend.
OpportunityforExpansion:BinhMinhPlasticcancapitalizeonthisopportunitytoexpanditsmarketshare.
Potential for Revenue Growth: The growing market demandprovidesafavorableoutlookforBinhMinhPlastic'srevenuegrowth.
- GlobalExportReach:
Exportedto40+Countries:BinhMinhPlasticshassuccessfullyexpandeditsoperationsbeyonddomesticboundaries.
Global Market Penetration: The company's products areavailableinvariouscountriesandterritoriesworldwide. Diversified Customer Base: Exporting to multiple markets
allows Binh Minh Plastics to reach a diverse range ofcustomers.
- PotentialinHigh-QualityandCompetitiveMarket Demand for Quality Plastic Products: There is a growing
3 Market segmentation by region:
- TheSouth:KeyMarketwithOver50%MarketShare
Trang 5 Dominant Market Position: Binh Minh Plastic holds asignificant market share of more than 50% in the southernregion.
Established Customer Base: The company has built strongrelationshipswithcustomersanddistributorsinthismarket. StableRevenueStream:Thesouthernregionprovidesastable
- CentralRegion:PotentialMarketwithGrowingDemand EmergingMarket:Thecentralregionshowspromisinggrowth
Increasing Demand: There is a growing demand for plasticproductsinthisregion,drivenbyindustrialandinfrastructuredevelopment.
Market Expansion Opportunity: Binh Minh Plastic cancapitalize on this demand by expanding its presence anddistributionnetworkinthecentralregion.
- TheNorth:ChallengingMarketwithHighCompetition CompetitiveLandscape:Thenorthernmarketposeschallenges
MarketPenetrationEfforts:BinhMinhPlasticfacesthetaskofincreasing its market share in the northern region throughtargetedmarketingstrategiesandproductdifferentiation. Long-Term Potential: Despite the challenges, the northern
Demographics
1 Lifestyle:
- Customergroupsconcernedabouttheenvironment: Chooserecycled,environmentallyfriendlyplasticproducts BinhMinhPlasticsprovidesrecycledHDPEplasticpipesand
- Customergroupsinterestedinprice: Choosecheapproducts,suitableforbasicneeds
BinhMinhPlasticsprovidesBinhMinhStandardplasticpipesandBinhMinhPVCsheets
- Customergroupsinterestedinquality:
Trang 6 Choose high-quality products that are durable and safe forhealth
BinhMinhPlasticsprovidesBinhMinhGoldplasticpipesandSuperPVCsheets
2 Values and beliefs:
- Customergroupsthatvalueconvenience:
Choose products that are easy to use and suitable for manypurposes
BinhMinhPlasticsprovidesBinhMinhEasyplasticpipesandPVCNanopanels
- Customergroupsthatvaluethebrand:
Chooseproductsfromreputablebrandswithguaranteedquality BinhMinhPlasticistheleadingplasticbrandinVietnamwith
- Customergroupsthatvalueaesthetics:
Chooseproductswithbeautifuldesignsanddiversecolors Binh Minh Plastics provides wood grain PVC panels and
3 Target customer group:
Households: Demand for plastic pipe products and plasticsheetsforconstructionandhomerepair
Enterprises:Demandforusingplasticpipesandplasticsheetsforproductionandbusiness
Construction projects: Demand for using plastic pipes andplasticsheetsforconstructionprojects
Behaviorfactors
Inthismarketsegment,customerscanbedividedintodifferentgroupsbasedontheirlevelofknowledge,attitude,usageandreactiontothecompany'sproducts.Thisisoneoftheimportantmarketsegments ofBinhMinh PlasticCompany.And fromhere, the company continues to segment customers aftermanagingtheirbuyingbehaviorsuchas:
-Level of use:
Groupofcustomerswhodonotbuy:arenotcustomersofBinhMinh plastic, do not like products of Binh Minh plasticcompanyorarecustomersofcertainfurniturebrands,
Trang 7 Customergroupwhobuyslittle:isthegroupofcustomerswhobuy products to replace old products or cannot find classicproducts,
Medium customer group: these are families who use sarnproductsforalongtime
Group of customers who buy a lot: are consumption agents,construction companies, civil furniture companies, largecompaniesorforeignorganizations,
- Level of loyalty to the company's products:
Demandforconvenientandsafepackagingproducts
2 Demand for high quality products:
Demandforproductswithhighdurabilityandlongservicelife: Savecostsforcustomers
Enhancesignalstrength
Demand for products that are safe for health andenvironmentallyfriendly:
Theneedtoprotectconsumerhealth Theneedtoprotecttheenvironment
3 The need for good customer service:
Demandforconsulting,designandconstructionservices: Helpcustomerschoosesuitableproducts
Savetimeandcostsforcustomers
Trang 8 Demandformaintenanceandafter-salesservices: Createawarenessforcustomers
Enhancesignalstrength
4 Demand for competitive prices:
Customerdemandforhighqualityproductsatreasonableprices Competinglikedemandinschool
SOURCES: https://www.binhminhplastic.com.vn/res/project/download/AR%202021_BMP_280322-3h20_150422_đôi%203.45pm%20150422-sign.pdfhttps://www.binhminhplastic.com.vn/
2.1.3 MarketTrends
- MarkettrendsthatBinhMinhPlasticCompanyhasidentified:
1 Greening trend:
Thedemandforusingenvironmentallyfriendlyplasticproductsisincreasing
Environmentalprotectionregulationsareincreasinglystrict
2 Innovation trends:
Demandforplasticproductswithnewfeaturesandapplications Theneedforcomprehensivesolutionsforindustries
5 E-commerce development trends:
Thedemandforbuyingandsellingplasticproductsonlineisincreasing
Demandforfastandconvenientdeliveryservice
Trang 92.1.4 MarketGrowth
- Market growth that Binh Minh Plastic Companydetermines:
1 Plastic pipe market:
Demand for housing and infrastructure construction isincreasing
Trendofreplacingmetalpipeswithplasticpipes
Vietnam'splasticpipemarketisexpectedtogrow8-10%/yearintheperiod2022-2025
2 Corrugated board market:
Demand for use in large industries such as construction,advertising,andfurniture
Demandforenvironmentallyfriendlyproducts
Vietnam'splasticsheetmarketisexpectedtogrow10-12%/yearintheperiod2022-2025
3 Plastic packaging market:
Demandforhighqualityplasticproductsatcompetitiveprices Binh Minh Plastic export market is expected to grow
Extensive distribution system: BMP has an extensivedistribution system throughout the country, helping to bringproductsclosertoconsumers.
Trang 10 Diverse products: BMP provides a variety of plastic pipeproducts,accessories,watertanks, tomeetthediverseneedsofthemarket.
Good product quality: BMP pays attention to investing intechnology and quality control, ensuring products of goodqualityandhighdurability.
Experienced staff: BMP has a team of experienced andenthusiastic staff in the field of manufacturing and tradingplasticproducts.
Lackofhighqualityhumanresources:BMPneedstofocusontraininganddevelopinghighqualityhumanresourcestomeetthecompany'sdevelopmentneeds.
-Opportunities
Marketdemandgrowth:DemandforplasticpipeproductsandaccessoriesinVietnam isincreasingthedevelopment oftheconstructionandinfrastructureindustries.
Trend of using environmentally friendly products: BMP cantakeadvantageofthistrendtodevelopplasticpipeproductsfromrecycledorenvironmentallyfriendlymaterials.
Expandingexportmarkets:BMPcanexpandexportmarketstocountriesintheregionandaroundtheworld.
Same-sex competition: The plastic industry is an industrywheremanybusinessesparticipateandcompetetogether. Rawmaterialpricechanges:PVCrawmaterialpricechanges
Environmental policy: Increasingly strict environmentalprotection regulations may force BMP to invest in newtechnologyandequipmenttoreduceenvironmentalpollution.
A- IFE MATRIX
Trang 11Key Internal FactorsWeightAverage
Extensive distributionsystem
Trang 12competitiveness,companiesneedtofocus onpromotingstrengths, overcomingweaknesses,monitoringandupdatingtheenvironmenttopromptlyadapt
Trend of usingenvironmentally friendly
Trang 13consideropportunitiesandchallengestomaintaindevelopmentandimproveitscompetitiveness The company also needs to improve competitiveness byinnovatingproductsandservices,improvingproductquality,buildingstrongbrandsandeffectivemarketingstrategies.
2.3 Competitions
-TIEN PHONG Plastic (NTP):
Is BMP's direct and largest competitor, accounting for thelargestmarketshareinVietnam'splasticpipeindustry. Has advantages in production scale, distribution system and
Compete directly with BMP in the high-end and mid-rangemarketsegments.
-HOA SEN Plastic (HSG):
Is a large corporation with many business fields, includingplasticpipeproduction.
Hasadvantagesinfinancialresourcesandbrand.
Competedirectly withBMP inthe mid-rangeand affordablemarketsegments.
-DAI THANH Plastic (DTC):
An enterprise with extensive experience in the plastic pipemanufacturingindustry.
PVC-U Pipes and Fittings: These pipes are made frompolyvinylchloride(PVC)andareknownfortheirdurability,affordability,andchemicalresistance.Theyarecommonlyused
Trang 14in cold water plumbing, drainage systems, and electricalconduitapplications.
HDPEPipesandFittings:High-densitypolyethylene(HDPE)pipesareknownfortheirstrength,flexibility,andresistancetoUVrays.Theyareidealforpotablewatersupply,sewerlines,andindustrialapplications.
Trang 15 PP-R Pipes and Fittings: Polypropylene random copolymer(PP-R) pipes are known for their high heat tolerance andresistancetochemicals.Theyarecommonlyusedinhotandcold water plumbing systems, heating applications, andindustrialpiping.
HDPEDoubleWallStructuredPipesandFittings:Thesepipeshavearibbedouterwallandasmoothinnerwall,makingthemidealfordrainageapplicationswherehighstrengthandcrushresistancearerequired.
LDPE Pipes: Low-density polyethylene (LDPE) pipes areflexibleandlightweight,makingthemsuitablefornon-pressureapplicationssuchasirrigationandelectricalconduit.
OtherProducts:BìnhMinhPlasticalsooffersavarietyofotherproducts,includingsealants,rubberrings,andvalves.
2.5 Key to Success
-Modern production system:
Applying advanced technology and high automation, theproductensuresstablequalityandhighproductivity.
Using high quality materials, safe for health andenvironmentallyfriendly.
Quality management system ISO 9001:2015 and ISO14001:2015.
- Distribute network everywhere:
Morethan2,000agentsanddistributorsnationwide.
Trang 16 Effectiveonlinesalessystem. Professionalcustomerservice.
- Product diversification:
Providingmorethan1,000plasticproductsservingmanyfields:construction,industry,agriculture,householdappliances, ResearchAlwaysresearchanddevelopnewproductstomeet
-Professional staff:
Ateamofskilledandexperiencedengineersandworkers. Dynamicandcreativemanagementteam.
Focusontrainingandhumanresourcedevelopment.
-Competitive price:
Reasonablepricingstrategy,suitableformanycustomers. Thereareoftenpromotionsandincentives.
- Reputation signals:
BinhMinhPlasticbrandhasbeenestablishedinthemarketformorethan40years.
Received many prestigious awards: Top 500 LargestEnterprises in Vietnam, Top 50 Best Listed Companies inVietnam,
-Sustainable development strategy:
Committed to protecting the environment and using energyefficiently.
Participateinsocialandcommunityactivities.
-In addition, a number of other factors contribute to thesuccess of Binh Minh Plastics:
Corporatecultureofsolidarityandattachment. Talentedleadership,strategicvision. Effectivemarketingstrategy.
https://www.binhminhplastic.com.vn/
https://cafef.vn/nhua-binh-minh-bmp-bao-lai-quy-4-cao-ky-luc- trong-lich-su-gui-ngan-hang-gan-1000-ty-dong-
2.6 Critical issuses
- HerearesomeofthecriticalissuesfacedbyBinhMinhPlasticcompany(BMP):