experience working at thuyen xua foods enterprise

Overview Established in 2017 by Doan Phuong Ly, Thuyen Xua Food Company Limited specializes in producing and distributing food seasonings, most notably their traditional Fish Sauce produ

Metropolitan University

Experience working at Thuyen Xua Foods

enterprise

Group: 11 Class: BIFA 8E Teacher’s guide: Doan Thuy Duong

Name: Pham Thi Anh Thu - 20255229

Hoang Trang Nhung - 20255218

Nguyễn Thị Quỳnh Mai - 20255215

Contents

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1.1 Political factors ẻốe 3

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1.3 Social - Cultural factors occ ốe 4

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1.6 Legal 5

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I Introductions of Thuyen Xua Food

1 Overview

Established in 2017 by Doan Phuong Ly, Thuyen Xua Food Company Limited specializes in producing and distributing food seasonings, most notably their traditional Fish Sauce product Initially offering variants with 33 and 40 degrees of protein, the brand expanded its line to include products tailored for infants and soy sauce crafted through natural fermentation in Japan but catering to Vietnamese tastes

With six years of dedicated effort in building distribution networks, Thuyen Xua now reaches

60 provinces and cities, partnering with 35 major and minor supermarket chains and boasting 5,000 retail points It has become a staple in millions of Vietnamese kitchens, championing clean and high-quality ingredients for community well-being while upholding cherished culinary traditions

2 Products

Fish sauce 40 degrees protein

Fish sauce

Thien Huong fish sauce type 33 strength

Weaving products

3 Mission and vision

“Inspiration from a happy family with heart-warming meals”

At Boat Xua Foods, we firmly believe that nurturing bonds over delicious, nourishing meals

is key to fostering a joyful family life Our commitment revolves around providing safe and nutritious food options, ensuring the well-being of every family member With our dedicated missions, Thuyen Xua Food emerges as a beacon of culinary innovation, igniting creativity in countless Vietnamese kitchens We strive to deliver clean, top-notch ingredients, promoting public health and safeguarding cherished cultural values

II SWOT analysis

1, External environment

1.1 Political factors

The stable political situation in Vietnam plays an important role in economic development, solving employment problems, and increasing income, increasing consumer demand This positively affects the strategy of Thuyen Xua Foods, a new Vietnamese enterprise State policy, including finance, foreign affairs and currency, also plays an important role in marketing activities The government supports the food industry, reduces foreign trade barriers to attract investment, and encourages the development of food businesses, especially

by supporting industry associations such as VATFI and the Vietnamese Fish Sauce Association (Le Xuan Sinh, 2011)

1.2 Economic

According to NCIF forecasts, Vietnam is expected to achieve a GDP growth rate of 7% in the period 2021-2025, with an increasing trend to 7.5% in 2023 Inflation is stable at 3.5-4, 5%/year, lower than the global level Labor productivity improves by 6.3%/year, average GDP per capita is expected to reach 4,688 USD by 2025 (Duong, 2021) The market has great opportunities, especially in the field of health products, helping Thuyen Xua Foods to develop strong

1.3 Social - Cultural factors

Fish sauce, a symbol of Vietnamese cuisine and culture, is a potential market with nearly 100% of households using it daily The domestic fish sauce market 1s worth up to 500 million USD and grows annually by over 20% With more than 92.6 million people, the average consumption is about 250 million liters of fish sauce each year Traditional fish sauce

accounts for 60 million liters, while industrial sauce accounts for 190 million liters,

accounting for 70% of the domestic market (Nguyen Thi Van Ha, 2009) Concern for health and product quality has motivated consumers to switch from industrial fish sauce to traditional fish sauce, opening up opportunities and challenges for businesses in the industry

1.4 Technology

For the traditional fish sauce production market in particular, research on technology and techniques that have been developed, perfected and applied in production include: Fish sauce

processing technology using Solar energy helps shorten the fish sauce processing time from

13 months to 6 months, the amount of fish sauce core obtained is 30% more than the traditional method, contributing to increasing productivity and product quality Packaging technology helps minimize the use of additives in preservation and stabilize quality Tracing the origin of raw materials is also becoming easier with technologies related to tracking and GPS becoming increasingly cheaper Technology application is a new direction in maintaining and developing traditional products

1.5 Environment

The interaction between business activities and the ecological environment is an important factor in the macro environment Environmental pollution from waste oil from ships and the use of environmentally unfriendly materials harms aquatic resources and causes air pollution Fishing using unsustainable means also creates problems of plastic pollution and biodiversity loss Fish sauce manufacturing businesses face the challenge of complying with environmental regulations, integrating sustainability policies and enhancing social responsibility

1.6 Legal

Thuyen Xua Foods enterprise needs to ensure that production meets the health safety needs of customers with modern systems The entire system also always complies with food safety rules, taking product quality and human health as prerequisites In addition, the application of many different tax rates also causes many difficulties for businesses in product pricing (Thuy Nguyen, 2016)

2 Internal environment

products

BCG Matrix

Relative Market Share

The prominence of Thuyén Xua's Fish Source in the "Star" segment can be explained as

follows:

Market Growth: While Fish Source may not have as high a market share as Masan, it could

be operating in a market segment experiencing significant growth Rapid market development 1s a crucial factor in determining a product as a "Star."

Market Share Segment: Fish Source may hold a considerable market share within the fish sauce segment Although Masan dominates overall, Fish Source might have specific appeal to

a significant portion of the market

Unique characteristics: A fish source may possess unique characteristics, qualities, or

marketing strategies that make it stand out and be appreciated by consumers This may stem

from product quality, highly technical labor force, and the founder of the business with many

years of experience in the field of product distribution both in Vietnam and abroad Effective

marketing strategies such as product packaging and effects from the Sharktank Vietnam

program have brought its business to be present in 60 provinces across the country with 5,000

points of sale at 35 large and small supermarket chains

Weaning Products have a decent market share (18.6), but the market growth rate is low (7%)

Given these factors, Weaning Products could be considered a Cash Cow rather than a

Question Mark While there might not be significant growth potential, it could provide a

stable income and contribute substantially to overall revenue Currently, users tend to use

imported weaning products more than domestic ones Besides, the market is seeing more and

more foreign weaning product brands imported from Europe and Japan, so the domestic

weaning products market share is not high Occupying a market share of 18.6 can be

explained that the business has chosen the right market segment and the product value is high

for customer needs

3 SWOT

Table: SWOT Medel analysis and recommendations for Thuyen Xua Foods

business

fish sauce market and the overall | regulations may pose challenges

Thuyen Xua Foods to expand its | impacting production processes

market share

T2: Intense competition within

03: Continued investment in technology and innovation can provide Thuyen Xua Foods with

a competitive edge, helping to

and

sustainability

O4: Exploring new product lines

or diversifying within the food industry can mitigate risks associated with dependency ona single market

market shares, poses a threat to

Thuyen Xua Foods

growth, economic uncertainties or

consumer spending and overall

market conditions

T4: Stringent health and safety

continuous adherence, impacting production processes and costs

Sl: The company

has an extensive

distribution

network

32: Product quality

similar products in

quality values and innovative

Combining technology to create products with a competitive advantage

market to offer products and

T2,T3:Research

prices appropriate to fluctuating market conditions Continuously update and enhance production processes to ensure compliance

with partners in the supply chain to regulations | Cooperate

the market ensure compliance with

environmental regulations and product input quality

WI: Dependency

Fish

Market makes 1t

vulnerable to any

adverse changes or

challenges in that

specific industry

independent of raw

material sources

share of weaning

products is not

high

market research to identify potential new products Develop and expand product lines into

areas other than fish sauce, such

minimize risks from dependence

on the fish sauce market

W1,W2.T1,T2,T3,T4: Maintain

financial reserves and optimize

fluctuations Seek investment and expansion opportunities in areas with stable growth

III Risk and solution

1 Source of raw materials: Operational risk

Product quality is one of the most crucial elements in preserving the Thuyen Xua brand since

it has a direct impact on the standing, success, and reputation of the company Rated as one of

the biggest risks (up to 25%) and classified as Accepts - low impact, low probability The risk

of product quality issues is estimated to be around 20-25% based on historical data and

industry benchmarks (Anh Do Thi Ngoc, 2018) Fish and salt are the two primary ingredients

on which Thuyen Xua depends Fish and salt account for approximately 60-70% of Thuyen

Xua's total production costs

In the past year, there have been instances where production had to be halted for several days

due to shortages in raw materials, resulting in a 15% decrease in overall production output

and a delay in deliveries to customers

Customer complaints related to inconsistent product quality have increased by 10% over the

last quarter, indicating potential challenges in maintaining consistent quality standards

The ultimate quality of the product may suffer if there is an unstable supply of these key

ingredients Additionally, inconsistent products between batches can result from manual

production using conventional methods However, because it happens outside and in a natural

setting, there's a chance that it could get contaminated by germs, environmental debris, or

other dangerous things

On the other hand, a shortage of raw materials may force businesses to reduce production or

temporarily stop production That could cause disruptions in the supply chain, slowing

production and deliveries This can affect relationships with suppliers and customers

The following suggested actions can be implemented to reduce risks associated with the

sources of raw materials:

2 Market competition - Risk of competition

The market for fish sauce can be highly competitive, particularly concerning large brands and

commercial goods Rival brands, particularly in emerging markets, may employ pricing

tactics to draw clients This will drive down prices and have an immediate impact on Thuyen

Xua's earnings However, client demands and preferences might alter over time Brands risk

losing market share to rivals if they are unable to adjust to these changes This risk is

classified as Avoid - High impact, high probability

It is known that Thuyen Xua's current biggest competitor is Masan Group Corp (established

in 2004) This group owns major fish sauce brands such as Chinsu, Nam Neu, Tam Thai

Tu, After more than 20 years of investment and development, the company currently

accounts for nearly 70% of the fish sauce market share in Vietnam This is a big challenge for

Thuyen Xua when competitors have abundant capital, the ability to invest in research and

development of new products, advanced technology and advertising

Table: Fish Sauce Market Size & Share Analysis - Growth Trends & Forecasts (2024 -

2029)

https://www.mordorintelligence.com/industry-reports/fish-sauce-market

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Market Concentration

Consolidated- Market dominated by 1-5 major

@ Masan Group players

Q Unilever PLC (ee Global Fish Sauce Market

© Thanh Hung Co., Ltd

© Vict Phu Inc (Red Boat Fish Sauce)

Fragmented - Highly competitive market

ee without dominant players

6 Rayong Fish Sauce Industry Co Ltd

source: Mordor Intelligence ean

IV Individuals

1 Hoang Trang Nhung

During my internship in the customer care position at Thuyen Xua fish sauce business, I had

the opportunity to engage with customers and assist them in addressing their inquiries and

concerns I learned the importance of active listening and effective communication in

building positive relationships with customers By providing timely and personalized

solutions to their issues, I was able to contribute to enhancing overall customer satisfaction

Working closely with the customer care team, I gained insights into the company's products

and services, allowing me to better understand and meet the needs of our customers I also

collaborated with other departments to streamline processes and improve the customer

experience Through training sessions and hands-on experience, I honed my problem-solving

skills and developed a deeper appreciation for the value of excellent customer service My

internship at Thuyen Xua fish sauce business was a rewarding experience that equipped me

with practical skills and knowledge that will be valuable in my future career endeavors in the

customer care field

2 Nguyen Thi Quynh Mai

A business's sales and profitability are determined by its sales, which makes sales a crucial

component of an operating system During my internship in Thuyen Xua's online sales

department, I came to the realization that I had acquired the abilities required for a significant

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