marketing management midterm exam assignment

SITUATION ANALYSIS 2.1 Market summary 2.1.1 TargetMarket Geographics- MarketsegmentationbygeographyofBinhMinhPlasticCompany:1... Market segmentation by region:- TheSouth:Key

THE MINISTRY OF FINANCE

UNIVERSITY OF FINANCE – MARKETING

TrươngCôngQuốcAnh–2121012933

1 EXECUTIVE SUMMARY

- BìnhMinhPlasticCompanyisaleadingmanufactureranddistributorofplasticproductsbasedinVietnam.Withastrongpresenceinthelocalmarketandanexpandinginternationalfootprint,thecompanyhasestablisheditselfasatrustednameintheplasticindustry

- Company Overview:

BìnhMinhPlasticCompanywasfoundedin1990withtheaimofproducinghigh-qualityplasticproductsforvariousindustries.Overtheyears, the company has grown significantly  and now operatesmultiple  manufacturing  facilities  equipped  with  state-of-the-arttechnology.Thecompany'sproductportfolioincludesawiderangeofplastic  items  such  as  packaging  materials,  household  products,industrialcomponents,andagriculturalsupplies

- Market Position:

BìnhMinhPlasticCompanyholdsaprominentmarketpositioninVietnam's plastic  industry  The company's  commitment  to quality,competitivepricing,andcustomersatisfactionhasenabledittobuildastrong  customer  base  across  different  sectors  Bình  Minh  PlasticCompanyhasalsoexpandeditsoperationstointernationalmarkets,leveraging  its  expertise  and  reputation  to  capture  new  businessopportunities

- Key Strengths:

 Diverse  Product  Range:  Bình  Minh  Plastic  Company  offers  acomprehensiverangeofplasticproducts,cateringtotheneedsofvarious  industries  This  diversity  provides  the  company  with  acompetitiveadvantageandallowsittotapintomultiplemarketsegments

 ManufacturingExcellence:Thecompany'smodernmanufacturingfacilities  and  advanced  technology  ensure  efficient  productionprocesses  and  consistent  product  quality  Bình  Minh  PlasticCompanyadherestostringentqualitycontrolmeasures,complyingwithinternationalstandardsandregulations

 Strong  Distribution  Network:  Bình  Minh  Plastic  Company  hasestablished  a  robust  distribution  network,  enabling  it  to  reachcustomers across  Vietnam and  beyond The  company  has builtstrongrelationshipswith distributors,wholesalers, and retailers,ensuringwidespreadavailabilityofitsproducts

 Commitment  to  Sustainability:  Bình  Minh  Plastic  Companyrecognizestheimportanceofenvironmentalsustainabilityandhas

implementedinitiativestominimizeitsecologicalfootprint.Thecompany  actively  promotes  the  use  of  recycled  materials  andinvests  in  research  and  development  to  develop  eco-friendlyproducts.

 Customer  Focus:  Bình  Minh  Plastic  Company  places  greatemphasison understandingandmeetingcustomerrequirements.The  company  engages  in  regular  market  research,  collaboratesclosely  with  clients,  and  provides  excellent  customer  service,resultinginlong-termpartnershipsandcustomerloyalty

- Future Outlook:

BìnhMinhPlasticCompanyiswell-positionedforcontinuedgrowthandsuccess.Thecompanyaimstofurtherexpanditsinternationalpresence,exploringnewmarketsandforgingstrategicpartnerships.Bình  Minh Plastic  Company  also  plans  to invest  in  research  anddevelopmenttoinnovateandintroducenewproductsthatalignwithevolvingcustomerpreferencesandsustainabilitygoals

Inconclusion,BìnhMinhPlasticCompanyisaleadingplasticmanufacturerinVietnam,knownforitsdiverseproductrange,manufacturingexcellence,strongdistributionnetwork,commitmenttosustainability,andcustomerfocus.Withasolidmarketpositionandacleargrowthstrategy,thecompanyispoisedforaprosperousfutureintheplasticindustry

1 Domestic market:

- KeyMarket:Over80%Revenue

 BinhMinhPlastic'skeymarketisasignificantcontributortoitsrevenue,accountingforover80%

 This  market  segment  plays  a  crucial  role  in  the  company'sfinancialsuccess

- WideDistributionNetwork:

 NationwidePresence:BinhMinhPlastichasestablishedawidedistributionnetworkacrossthecountry

 More  than  1,200  Stores:  The  company  operates  over  1,200storesnationwide,ensuringbroadmarketcoverage

 ExtensiveReach:ThisextensivedistributionnetworkenablesBinh  Minh  Plastic  to  reach  customers  efficiently  andeffectively.

- PotentialMarketGrowth:

 Increasing  Demand:  The  market  for  plastic  products  isexperiencingarisingdemandtrend

 OpportunityforExpansion:BinhMinhPlasticcancapitalizeonthisopportunitytoexpanditsmarketshare

 Potential  for  Revenue  Growth:  The  growing  market  demandprovidesafavorableoutlookforBinhMinhPlastic'srevenuegrowth

- GlobalExportReach:

 Exportedto40+Countries:BinhMinhPlasticshassuccessfullyexpandeditsoperationsbeyonddomesticboundaries

 Global  Market  Penetration:  The  company's  products  areavailableinvariouscountriesandterritoriesworldwide

 Diversified  Customer  Base:  Exporting  to  multiple  marketsallows  Binh  Minh  Plastics  to  reach  a  diverse  range  ofcustomers

3 Market segmentation by region:

- TheSouth:KeyMarketwithOver50%MarketShare

 Dominant  Market  Position:  Binh  Minh  Plastic  holds  asignificant  market  share  of  more  than 50%  in  the  southernregion.

 Established  Customer  Base:  The  company  has  built  strongrelationshipswithcustomersanddistributorsinthismarket

 StableRevenueStream:ThesouthernregionprovidesastableandlucrativerevenuesourceforBinhMinhPlastic

- CentralRegion:PotentialMarketwithGrowingDemand

 EmergingMarket:ThecentralregionshowspromisinggrowthpotentialforBinhMinhPlastic

 Increasing  Demand:  There  is  a  growing  demand  for  plasticproductsinthisregion,drivenbyindustrialandinfrastructuredevelopment

 Market  Expansion  Opportunity:  Binh  Minh  Plastic  cancapitalize  on  this  demand  by  expanding  its  presence  anddistributionnetworkinthecentralregion

- TheNorth:ChallengingMarketwithHighCompetition

 CompetitiveLandscape:Thenorthernmarketposeschallengesduetointensecompetitionfromlocalandinternationalplasticproductmanufacturers

 MarketPenetrationEfforts:BinhMinhPlasticfacesthetaskofincreasing  its  market  share  in  the  northern  region  throughtargetedmarketingstrategiesandproductdifferentiation

 Long-Term  Potential:  Despite  the  challenges,  the  northernmarketholdslong-termgrowthpotentialforBinhMinhPlastic,givenitspopulationandeconomicsignificance

- Customergroupsinterestedinprice:

 Choosecheapproducts,suitableforbasicneeds

 BinhMinhPlasticsprovidesBinhMinhStandardplasticpipesandBinhMinhPVCsheets

- Customergroupsinterestedinquality:

 Choose  high-quality  products  that  are  durable  and  safe  forhealth

 BinhMinhPlasticsprovidesBinhMinhGoldplasticpipesandSuperPVCsheets

2 Values and beliefs:

- Customergroupsthatvalueconvenience:

 Choose  products  that  are  easy  to  use  and  suitable  for  manypurposes

 BinhMinhPlasticsprovidesBinhMinhEasyplasticpipesandPVCNanopanels

- Customergroupsthatvaluethebrand:

 Chooseproductsfromreputablebrandswithguaranteedquality

 BinhMinhPlasticistheleadingplasticbrandinVietnamwithmorethan50yearsofexperience

- Customergroupsthatvalueaesthetics:

 Chooseproductswithbeautifuldesignsanddiversecolors

 Binh  Minh  Plastics  provides  wood  grain  PVC  panels  andimitationstonePVCpanels

3 Target customer group:

 Households:  Demand  for  plastic  pipe  products  and  plasticsheetsforconstructionandhomerepair

 Enterprises:Demandforusingplasticpipesandplasticsheetsforproductionandbusiness

 Construction  projects:  Demand  for  using  plastic  pipes  andplasticsheetsforconstructionprojects

 Behaviorfactors

Inthismarketsegment,customerscanbedividedintodifferentgroupsbasedontheirlevelofknowledge,attitude,usageandreactiontothecompany'sproducts.Thisisoneoftheimportantmarketsegments ofBinhMinh PlasticCompany.And fromhere,  the  company  continues  to  segment  customers  aftermanagingtheirbuyingbehaviorsuchas:

- Level of use:

 Groupofcustomerswhodonotbuy:arenotcustomersofBinhMinh  plastic,  do  not  like  products  of  Binh  Minh  plasticcompanyorarecustomersofcertainfurniturebrands,

 Customergroupwhobuyslittle:isthegroupofcustomerswhobuy  products  to  replace  old  products  or  cannot  find  classicproducts,

 Medium  customer  group:  these  are  families  who  use  sarnproductsforalongtime

 Group of customers who  buy a lot:  are consumption  agents,construction  companies,  civil  furniture  companies,  largecompaniesorforeignorganizations,

- Level of loyalty to the company's products:

unconditionalloyalty,relativeloyalty,fixedloyalty,noloyalty

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 MarketTrends

- MarkettrendsthatBinhMinhPlasticCompanyhasidentified:

1 Greening trend:

 Thedemandforusingenvironmentallyfriendlyplasticproductsisincreasing

 Demandforfastandconvenientdeliveryservice

2.1.4 MarketGrowth

- Market  growth  that  Binh  Minh  Plastic  Companydetermines:

1 Plastic pipe market:

 Demand  for  housing  and  infrastructure  construction  isincreasing

 Trendofreplacingmetalpipeswithplasticpipes

 Vietnam'splasticpipemarketisexpectedtogrow8-10%/yearintheperiod2022-2025

2 Corrugated board market:

 Demand  for  use  in  large  industries  such  as  construction,advertising,andfurniture

 Demandforenvironmentallyfriendlyproducts

 Vietnam'splasticsheetmarketisexpectedtogrow10-12%/yearintheperiod2022-2025

3 Plastic packaging market:

 Extensive  distribution  system:  BMP  has  an  extensivedistribution system  throughout  the  country,  helping to bringproductsclosertoconsumers

 Diverse  products:  BMP  provides  a  variety  of  plastic  pipeproducts,accessories,watertanks, tomeetthediverseneedsofthemarket.

 Good  product  quality:  BMP  pays  attention  to  investing  intechnology  and  quality  control,  ensuring  products  of  goodqualityandhighdurability

 Experienced  staff:  BMP  has  a  team  of  experienced  andenthusiastic  staff  in  the  field  of  manufacturing  and  tradingplasticproducts

 Lackofhighqualityhumanresources:BMPneedstofocusontraininganddevelopinghighqualityhumanresourcestomeetthecompany'sdevelopmentneeds

- Opportunities

 Marketdemandgrowth:DemandforplasticpipeproductsandaccessoriesinVietnam isincreasingthedevelopment oftheconstructionandinfrastructureindustries

 Trend  of  using  environmentally  friendly  products:  BMP  cantakeadvantageofthistrendtodevelopplasticpipeproductsfromrecycledorenvironmentallyfriendlymaterials

 Expandingexportmarkets:BMPcanexpandexportmarketstocountriesintheregionandaroundtheworld

- Threats

 Same-sex  competition:  The  plastic  industry  is  an  industrywheremanybusinessesparticipateandcompetetogether

 Rawmaterialpricechanges:PVCrawmaterialpricechangescanaffectBMP'sprofits

 Environmental  policy:  Increasingly  strict  environmentalprotection  regulations  may  force  BMP  to  invest  in  newtechnologyandequipmenttoreduceenvironmentalpollution

A- IFE MATRIX

Key Internal Factors Weight Average

competitiveness,companiesneedtofocus onpromotingstrengths, overcomingweaknesses,monitoringandupdatingtheenvironmenttopromptlyadapt

Weighted Score Opportunities

Raw material price changes 0.1 3.4 0.34

Environmental policy 0.2 2.8 0.32

TheEFEscoreof2.81showsthatBinhMinhPlasticCompanyisoperatingwell  in  the  current  business  environment  However,  the company  needs  to

consideropportunitiesandchallengestomaintaindevelopmentandimproveitscompetitiveness  The  company  also  needs  to  improve  competitiveness  byinnovatingproductsandservices,improvingproductquality,buildingstrongbrandsandeffectivemarketingstrategies.

2.3 Competitions

- TIEN PHONG Plastic (NTP):

 Is  BMP's  direct  and  largest  competitor,  accounting  for  thelargestmarketshareinVietnam'splasticpipeindustry

 Has  advantages  in  production  scale,  distribution  system  andbrand

 Compete  directly  with  BMP  in  the  high-end  and  mid-rangemarketsegments

- HOA SEN Plastic (HSG):

 Is  a  large  corporation  with  many  business  fields,  includingplasticpipeproduction

 Hasadvantagesinfinancialresourcesandbrand

 Competedirectly withBMP inthe mid-rangeand affordablemarketsegments

- DAI THANH Plastic (DTC):

 An  enterprise  with  extensive  experience  in  the  plastic  pipemanufacturingindustry

- Here'sabreakdownoftheirproductofferings:

 PVC-U  Pipes  and  Fittings:  These  pipes  are  made  frompolyvinylchloride(PVC)andareknownfortheirdurability,affordability,andchemicalresistance.Theyarecommonlyused

in  cold  water  plumbing,  drainage  systems,  and  electricalconduitapplications.

 HDPEPipesandFittings:High-densitypolyethylene(HDPE)pipesareknownfortheirstrength,flexibility,andresistancetoUVrays.Theyareidealforpotablewatersupply,sewerlines,andindustrialapplications

 PP-R  Pipes  and  Fittings:  Polypropylene  random  copolymer(PP-R)  pipes  are  known  for  their  high  heat  tolerance  andresistancetochemicals.Theyarecommonlyusedinhotandcold  water  plumbing  systems,  heating  applications,  andindustrialpiping.

 HDPEDoubleWallStructuredPipesandFittings:Thesepipeshavearibbedouterwallandasmoothinnerwall,makingthemidealfordrainageapplicationswherehighstrengthandcrushresistancearerequired

 LDPE  Pipes:  Low-density  polyethylene  (LDPE)  pipes  areflexibleandlightweight,makingthemsuitablefornon-pressureapplicationssuchasirrigationandelectricalconduit

 OtherProducts:BìnhMinhPlasticalsooffersavarietyofotherproducts,includingsealants,rubberrings,andvalves

2.5 Key to Success

- Modern production system:

 Applying  advanced  technology  and  high  automation,  theproductensuresstablequalityandhighproductivity

 Using  high  quality  materials,  safe  for  health  andenvironmentallyfriendly

 Quality  management  system  ISO  9001:2015  and  ISO14001:2015

- Distribute network everywhere:

 Morethan2,000agentsanddistributorsnationwide

 Effectiveonlinesalessystem.

 Professionalcustomerservice

- Product diversification:

 Providingmorethan1,000plasticproductsservingmanyfields:construction,industry,agriculture,householdappliances,

 ResearchAlwaysresearchanddevelopnewproductstomeetmarketneeds

 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

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2.6 Critical issuses

- HerearesomeofthecriticalissuesfacedbyBinhMinhPlasticcompany(BMP):