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The business strategy of Vinh Hao Mineral Water Joint Stock Company TABLE OF CONTENT TABLE OF CONTENT INTRODUCTION RESEARCH OF CONTENT Overview of Vinh Hao Mineral Water Joint Stock Company 1.1 Overview of the Company 1.2 Aspects of Vinh Hao Mineral Water 1.3 The formation and development of the company Overview of the mineral water market 2.1 Characteristics of mineral water market 2.1.1 The needs and tastes of customers 2.1.2 The competitive company in the industry 2.2 Environmental factors affecting mineral water market 2.2.1 Legislation environment .7 2.2.2 Economic environment 2.2.3 The natural environment 2.3 Strategic Analysis S - T - P of companies in the period 2012- 2014 2.3.1 Market Segmentation 2.3.2 Select the target market 2.3.3 Product positioning 10 Analysis of strategies of Vinh Hao Mineral Water Joint Stock Company .11 3.1 Dimensions product aggregation 11 3.2 Product Branded 13 3.3 Decision concerning product characteristics .13 3.3.1 Product line carbonated mineral water .13 3.3.2 Product line mineral water not gas 15 3.3.3 Field of fresh mineral water products .16 Designing packaging product 17 INTRODUCTION RESEARCH OF CONTENT Overview of Vinh Hao Mineral Water Joint Stock Company 1.1 Overview of the Company - Name: Joint Stock Company Vinh Hao Mineral Water - Brand: Vinh Hao - Logo: - Headquarters: No 346 Hai Thuong Lan Ong street, Block 2, Phu Tai Ward, Phan Thiet City, Binh Thuan Province - Telephone: 031 3739106 - 031 3739107; Fax: 031 3739108 - Website: www.vinhhao.com - Capital: 81 billion VND (eighty one billion) Certificate of business registration: No 3400178402 The first registration on March 9, 1995, registered revision seven on May 21, 2008 The units attached to the on December 31, 2010 include: + Mineral water factory in Vinh Hao commune, Tuy Phong District, Binh Thuan Province + Manufactory bottled water at 678/72/32 Nguyen Van Linh street, Le Chan District, Hai Phong City + Branch Ho Chi Minh City at No L12 Dong Den street, Ward 14, Tan Binh District, Ho Chi Minh City + Representative Office in Ho Chi Minh City is located at 5F Floor, Tower Master, 41-43 Tran Cao Van Street, Ward 6, District 3, Ho Chi Minh City + The distribution station in Phan Thiet, Phan Rang to Da Lat The main business line of the company: production of mineral water, purified bottled water,etc, 1.2 Aspects of Vinh Hao Mineral Water In 1928 French scientists have discovered the excellent quality of Vinh Hao mineral resources in the area Tuy Phong District - Binh Thuan province Since then, the Vichy mineral water - Vinh Hao was born and occupy the largest market share in Vietnam market at that time Not stopping there, Vinh Hao Mineral Water also exported to markets like the US, Australia, Canada, Taiwan,etc, and soon assert his International However, not everyone knows the Vinh Hao Mineral Water is the only kind in Vietnam by the French expert research and evaluation of mineral resources is comparable to the famous Vichy mineral water worldwide Differences create the personalities of Vinh Hao Mineral Water is containing high levels of bicarbonate (HCO3-) - antacids (antacid), reduces the acidity of the stomach, reducing gastric stock mercy and flatulence Thanks to this unique characteristic that Vinh Hao Mineral water is considered good quality products compared to similar products on the market Therefore, Vinh Hao Mineral Water soon became close friends of each family, not only refreshing pure value, but also because of the special benefits of the health giving With the new development orientation, and all the leaders Officials Employees of Vinh Hao Mineral Water Joint Stock Company are ongoing effort to reaffirm the position of the brand pioneered Vietnamese consumers inherently trust cherish for over 80 years 1.3 The formation and development of the company From ancient times, hot spring water is considered as water EAMU St and is used only in the spiritual sacrifices and treatment By the early fourteenth century, legend, Princess Huyen Tran was father Tran Nhan Tong married to the king of Champa - Che Man, in a rambling trip aqua paint hills, incidentally stopped next to the hot springs are erupting, limpid calm, and she herself was named Vinh Hao stream with wants relations between Vietnam - Chiem lasting and eternal good The later kings of the Nguyen Dynasty has also built the house in the source area for rest and convalescence In August 1909: a merchant name Bui Huy Tin, accidentally discovered the source of the Vinh Hao mineral hot springs On January 28, 1928: assessment by the quality of this mineral spring equal to the world-famous Vichy France, Vinh Hao D'Etudes Societe Civile des Eaux De company started Minerals exploitation and commercialization In October 1930: Vinh Hao Mineral Water was officially launched with a capacity of 3000 liters/hour This is the first time Vietnam has products named Vichy mineral water - Vinh Hao, have occupied the largest share market in Vietnam at that time Not stopping there, Vinh Hao to continue reaching out to the Indochinese countries and exports to markets like the US, Australia, Canada and Taiwan,etc, assert its International Since the early 20th century: Vinh Hao mineral water brands are renowned worldwide In 1995: Vinh Hao mineral water factory is a joint venture established joint stock company Vinh Hao Mineral Water, by the People's Committee of Binh Thuan province licensing 000965GP/TLDN-03 on January 14, 1995, with two main shareholders in Binh Thuan province, Saigon Finance Joint Stock Company (now the Viet Asia Bank) From there, Vinh Hao has marked his moves and new developments In 2008: Celebrating 80 years of the founding of Vinh Hao company The growth in recent years: No Indicator Production (1,000 liters) Growth rate Revenue (million) Growth rate 2012 2013 2014 48.603 73.129 99.407 31% 50% 36% 106.094 195.865 342.605 28% 85% 75% Source: Vinh Hao Mineral Water Joint Stock Company Overview of the mineral water market 2.1 Characteristics of mineral water market 2.1.1 The needs and tastes of customers Water is the essential needs of man Clean water is even more precious International organizations say demand clean water is increasing, amid the supply of safe drinking water and sanitation facilities are still lacking in most of the developing world So bottled water products tend to get more people to use because of its convenience Consumers can take with you a bottle water product at anytime, anywhere, ensuring their physiological needs Currently, most customers not understand the use of the bottled water market, including pure water and mineral water That leads to erroneous perceptions as well as the demand for these products, making it difficult for businesses in the bottled water market in general and in particular mineral water Mineral water is water containing minerals The first type of this mineral with appropriate amounts can bring health benefits But if used too much, it will not be beneficial because the body absorbs too much and cause excessive mineral mining Therefore, considering the data on mineral content in the product is the company very focused and rigorous management, to ensure the health of consumers and maintain their products on the market Mineral water products are used extensively in all ages Older people generally prefer a high quality product, with health benefits, not fussy frills so often consume these products with large capacity, so at home Meanwhile, young people love and care about style elements, dynamic personality, closer to daily life than the quality factor Thus, many mineral water product line was created to meet the needs of all ages 2.1.2 The competitive company in the industry * The direct competitors: - Lavie - Vital - Some other mineral water brands such as: SANNA, Khanh Hoa, Kim Boi, * The indirect competitors (Business purified water) - Aquafina - Sapuwa - Joy 2.2 Environmental factors affecting mineral water market 2.2.1 Legislation environment * Regulation of bottled mineral water production - Organizations and individuals can only exploit natural mineral water after the Ministry of Natural Resources and Environment granted the mining license (mineral water) as stipulated by the legislation on mineral resources - Organizations and individuals can only produce bottled mineral water after the Ministry of Health (Department of Food Hygiene and Safety) certificate of eligibility base food safety - Organizations and individuals producing bottled natural mineral water must publish quality standards food safety with the Ministry of Health in collaboration with the Department of Food Hygiene and Safety under the provisions of prior legislation products circulating in the market - Organizations and individuals producing bottled natural mineral water may only processed and bottled natural mineral water at source * Regulation of bottled mineral water exports - Organizations and individuals importing bottled natural mineral water must fully implement the content and procedure for state inspection of quality prescribed by the Ministry of Health regulations - Organizations and individuals importing bottled natural mineral water must publish quality food safety standards food safety with the Ministry of Health in collaboration with the Department of Food Hygiene and Safety under the provisions of prior legislation products circulating in the market 2.2.2 Economic environment The economic crisis, high inflation makes the consumption of these items decreased In the beverage market in general and in particular mineral water, purchasing power has increased with every year enabling companies can develop the brand as well as profit But customers are also more interested in factors such as quality of product, price, utility,etc, Just so that higher competition also requires appropriate strategies from companies in the industry In addition, our country is a country with a market economy, has joined the WTO So are the products of foreign origin are imported into Vietnam more They are mostly of high quality products which are potential competitors of the company are very strong presence in the market 2.2.3 The natural environment Nature has bestowed many valuable people are, the resources almost endless, including water resources In Vietnam, there are sources of mineral water everywhere from north to south, each mineral resources are typical components for specific use, bringing a diversity of mineral water products In the north there is mineral iron (Northern Plains) From Quang Binh to Binh Thuan in the mineral silica and from Binh Thuan to Dong Nai, Ba Ria - Vung Tau with carbonic mineral But the natural environment is increasingly polluted and being severely exploited affect the quality of mineral water products So to keep the quality of mineral water is always guaranteed, the company offers strategic planning and build infrastructure to protect mineral resources from the effects of environmental pollution On the other hand, increasingly hot climate makes drainage occurs quickly, people need to consume more water than normal items mineral water should become more concerned 2.3 Strategic Analysis S - T - P of companies in the period 2012- 2014 2.3.1 Market Segmentation To facilitate your business with a more detailed view on the market, selecting target markets accurately and efficiently, Vinh Hao market segment based on segments such as geographic characteristics psychology, consumer behavior Criteria segmentation by geographic area, Vinh Hao divided into three segments: - North: Hanoi, Hai Phong,etc, - Central: Da Nang, Hue,etc, - South: Ho Chi Minh City, Binh Thuan, Dong Nai, Vung Tau,etc, Criteria segment psychological characteristics: Based on the differences in personality (ostentatious, like to express themselves, powerful, vibrant), Vinh Hao put the product line fresh mineral water with reasonable prices to attract customers Criteria segmentation consumer behavior: The company focuses on segments primarily on the use of the product benefits Company whacked segments such as schools, hospitals, offices with Non-carbonated mineral water, bring drinking water to ensure consumers' health In addition, Vinh Hao also introduced the carbonated mineral water and fresh mineral water, provides essential minerals to the body after work, study, and prevent a number of heart disease and osteoporosis circuit 2.3.2 Select the target market From the market segment where the company has research, Vinh Hao determine your the target market segment focused on primary, secondary and psychological characteristics Vinh Hao identify target customers as follows: Branded Noncarbonated mineral water Carbonated mineral water Characteristic The average mineral content, water offices, families,etc, high quality, good for Lavie health Vital average content, distinctive Intermediate:Families middle Customers children (pupils, mineral students, high-quality, in Target customers Primary:Schools, hospitals, quality, have health benefits High mineral content, The Fresh mineral good Competitors young entrepreneurs, each .) have personalities, like the new, product category unique 2.3.3 Product positioning The difference of Vinh Hao compared to competitors in the market of mineral water are: High quality, have health benefits and relative price equal to or lower than the direct competitors are in majority Lavie and Vital items The difference was due Vinh Hao Mineral Water a precious source, apply a quality management system ISO 9001: 2000 and has improved the system of food safety management standard ISO 22000: 2005 in the first year 2008 Besides, investment in Vinh Hao system modern machinery, research and strict management production processes, enhance competitiveness and provide safe products in terms of quality and service to consumers in order to increase the brand's reputation in the high price market Vinh Hao Lavie Vital Gi á cao Health benefits to low Vinh Hao L avie Health benefits to high V ital Vĩn h Hảo Lợi ích cho sức khoẻ thấp Lợi ích cho sức khoẻ cao 10 Analysis of strategies of Vinh Hao Mineral Water Joint Stock Company 3.1 Dimensions product aggregation Since its inception in 1928, Vinh Hao Mineral Water from a well-known products have developed more new products such as pure water Vinawa, energy drinks Olympia,etc, and preparations as spirulina platensis, mineral mud But the staples of the company is still mineral water, has built up the brand Vinh Hao So this focus on mineral products, including: Product line carbonated mineral water and carbonated water space Vinh Hao: Through the measurements of length, width and depth aggregation of products will be the following table: Product Line Branded Material of the bottle Filesize Product features Due to the high mineral content, Plastic bottle Carbonated Vinh Hao natural Mineral mineral Water water Carbonated PET 500ml with Sodium Bicarbonate very good for the digestive system, helps with painful stomach and bloating At the same time, provide the essential trace mineral for the body such as Glass bottle 450ml sodium, potassium, magnesium and calcium, minerals offset lost output Non- Vinh Hao Plastic bottle carbonated Mineral PET Water 350ml during work and advocacy Every day the human body needs from 1.5 to liters of water to balance and offset the loss of water 11 during operation Moreover, the 500ml body also needs additional minerals that the body can not synthesize Mineral water with a slight amount mineral Non- water carbonated 1,5L of gas as Vinh Hao Mineral Water no one solution is just to drink just to avoid the shortage of minerals in 5L the body, helps to maintain healthy, refreshed, contribute to beautify 20L skin and health every day Besides Glass bottle 450ml the refreshing, helps support Lemona easily digestible thanks to contain natural gas At the Lemon Plastic bottle mineral PET same time, the minerals sodium, 500ml calcium, Vinh Hao Mineral Water utilities Plastic bottle PET 1,5L also very good for the nervous system, helps prevent osteoporosis and cardiovascular disease Cola K+ medium containing healthy mineral water magnesium, silicate, which is rich in resources Lemona Fresh potassium, Cola mineral water K + Plastic bottle PET minerals, has a special flavor, 500ml attracting a client department wanted a new product With the sweetness of oranges, Orange Glass bottle 450ml mineral Camina offers typical mineral taste sweet oranges, water Plastic bottle Camina PET improve health, replenish essential minerals for the 500ml body, good for the digestive system and nervous 3.2 Product Branded 12 The success of a product is also partly determined by the name of a product A catchy name or special will print on top will be the consumers and customers remember the first name when speaking of a kind product Therefore, the product name is also a relatively important work The brands of mineral water carbonated and non-carbonated of Vinh Hao is named after the company, there are all kinds of mineral water sweet as Lemona, Camina, Cola K +, the names relatively catchy, rhyming, both directions international, has maintained Vietnamese identity In carbonated mineral water and no gas, the company name is set for the products in this product line Vinh Hao means sustainable forever and nice Companies want to offer our customers products with good quality and growing, ensuring health for all Besides, Vinh Hao also want relations between the company and clients is always sustainable, to develop a brand Vietnam In the sweet spring product line, each brand has meaning: - Lemona: stands for Lemonade, lemonade means, raises the characteristics of the product Branded product internationalization attention of a dynamic youth department, make this product more favored countries - Camina: name speaks somewhat product characteristics, with orange flavor characteristics help cooling - Cola K +: Until now there are many brands of cola succeed as Pepsi, CocaCola,etc, , but Vinh Hao has boldly created a product Cola are contained minerals, brings a new choice Cola product 3.3 Decision concerning product characteristics The company has three main product lines are mineral water carbonated mineral water, non-carbonated mineral water and light mineral water 3.3.1 Product line carbonated mineral water Decision quality: To exploit and bottled at source, healthy environment for neighborhoods away, pumped up from a depth of over 30 meters with a closed production lines high technology imported from Europe (Belgium) without going through any stage of processing with chemicals, therefore Vinh Hao mineral Water carbonated remains intact mineral content and maintain the natural The product is pasteurized by UV offers the highest purity 13 Characteristics of the product: Concentration of bicarbonate (HCO3-) highest in the product line, with sodium, potassium, magnesium and calcium in appropriate proportion Carbonated brings different from other products on the market mineral water Be blessed, Vinh Hao Mineral Water Carbonated contain high levels of essential minerals such as sodium, magnesium, calcium, silicon, potassium, bicarbonate,etc, help strengthen the function of skin cells, prevent wrinkles by stimulating activity of vitamin E, improves motor functions of the nervous system, digestion, help agencies operate more efficiently One of the uses of carbonated mineral water is recommended doctors together to support the treatment of gout In addition, the product also works to support liver detoxification supplement important minerals needed by the body while working, exercising, or when tired,etc, , bringing health and full consolidation live each day The name Bicarbonate TDS Sodium Silicate Potassium Calcium Magnesium Fluoride Total Iron Nitrate Iodine pH Abbreviation Concentrations HCO3 2500 1900 + NA 912 SiO3 K+ 84 ++ Ca 43 ++ Mg 11 F 1,5 Fe2+, 3+ 0,0 NO3 0,0 I0,0 7,2 Branded and Packaging: Vinh Hao bottle designs of gas not different from the other competitors, increase brand awareness In PET bottle 500ml products, with green bottle, packaging background green bottle bottle placed between known and unique logo with white and blue, with a small star on the cover charge packaging and one big star at the bottom, Vinh Hao confirmed the difference compared with the same industry, bringing consumers closer to nature with the white of the sky, blue is the blue of trees and water Also in the 450ml glass bottle, Vinh Hao whacked middle customer segment, by the elegance of glass products with the assurance of quality preservation in glass bottles Combining white and blue, Vinh Hao also bring the freshness of mineral water to customers 14 3.3.2 Product line mineral water not gas Decision quality products: which are also produced from Vinh Hao Mineral resources in Binh Thuan, quality of Vinh Hao mineral water nor gas are not inferior to the other mineral water product line This product has been rated as good quality product than the same products in the market Therefore, it soon became a close friend of a family, not just by pure refreshment value, but also because of the special benefits of the health giving Product Features: Lower levels of bicarbonate soda Vinh Hao products, this product also brings freshness, refreshment medium has added essential minerals to the body Here are common products, suitable for daily use, because ash light, easy to drink and sweet aftertaste bar Bicarbonate reduces stomach acidity, thereby reducing stock mercy stomach and bloating; Water-soluble silicate has a good effect on the digestive, nervous; Calcium prevents osteoporosis; Magnesium helps strengthen immunity, help the heart work properly and regulate arterial blood pressure,etc, The name Bicarbonate TDS Sodium Silicate Potassium Calcium Magnesium Fluoride Total Iron Nitrate Iodine pH Abbreviatio n HCO3 NA+ SiO3 K+ Ca++ Mg++ F Fe2+, 3+ NO3 I- Concentrations 439 375 155 20 0,6 6,4 0,2 0,0 0,0 0,0 7,2 Branded and Packaging: The new logo and packaging was changed from 2009, Vinh Hao brings a breath of fresh air for its mineral water products In the noncarbonated mineral water, with types of plastics PET with different capacity, Vinh Hao gives customers the freshness of spring with blue and white 3.3.3 Field of fresh mineral water products Decision quality: Manufactured on the Vinh Hao mineral water, mineral water, fresh products and ensuring quality and mineral content to complement the body The 15 quality is also reflected through the stage of the middle bar with UV as the other products of Vinh Hao Mineral Water, to ensure the health of consumers Product Features: On the Vinh Hao mineral water (mineral content was slightly decreased), sweet products of Vinh Hao Mineral Water is the beverage taste very characteristic and different because it contains natural minerals Enjoy a fresh bottle of Vinh Hao Mineral Water just giving you the feeling was thirsty and an unmistakable taste is compared to similar products on the market, which can meet the needs of the mineral supplement can This is why the sweet mineral products consumers increasingly loved and favored Besides the refreshing, sweet mineral water also helps support digestible thanks to contain natural gas At the same time, the minerals sodium, potassium, magnesium, calcium, silicate, which is rich in resources,etc, Vinh Hao Mineral Water utilities also very good for the nervous system, helps prevent osteoporosis and cardiovascular disease Ingredients: - Natural Vinh Hao mineral water saturated with CO2 - Natural characteristic flavor (Lemon, Orange, Cola) - Sugar Sucrose - Citric Acid (330) - Malic Acid (296) - The preservative sodium benzoate (211) Branded and Packaging: In mineral fresh product line, color, packaging, labels have pointed to the characteristics of the product In Lemona lemon mineral products, even in the name it has been found to be characteristic of the product Besides, with the green of lemon, a unique bottle design, Lemona attract the attention of customers with personality, the new favorite Vinh Hao Lemona is the most popular and is on the rise In Orange mineral products - Camina, product characteristics also present through its characteristic orange color in the packaging and bottle caps Finally Cola K+ product with characteristic dark red Minerals sweet is bitter rival of the famous soft drink thirst and gradually won the hearts in customer Designing packaging product 16 In April, 2010 the company launched the system of new brand identity, including logo and packaging in order to rebuild a youthful image and stronger for its products in the market of bottled water in Vietnam About logo, Vinh Hao boldly innovate and to create new models, successors and promoted on the basis of previous designs Logo shape is inspired by the shape of the principle of "golden ratio" in physics from ancient Greece, symbolizing the harmony and perfection With water droplets icon design alternative, and the contours reminiscent of the curves of the mountain, new logo reminds consumers about a healthy beverage products gay chain is closed at the famous mineral water in Vietnam Type the word "Vinh Hao" is stylized teardrop shape of the pure, gleaming against deep blue - the color symbolizing the purity of water and earth Pink star pictures featured on the green as an accent helped more harmonious whole, in addition, is also the star stars symbol of its commitment to quality - which Vinh Hao always prioritized improvements to bring water with minerals dissolved helpful nature as a gift of nature to serve human beings 17 ... the market 2.2.3 The natural environment Nature has bestowed many valuable people are, the resources almost endless, including water resources In Vietnam, there are sources of mineral water everywhere... improves motor functions of the nervous system, digestion, help agencies operate more efficiently One of the uses of carbonated mineral water is recommended doctors together to support the treatment... quality, have health benefits and relative price equal to or lower than the direct competitors are in majority Lavie and Vital items The difference was due Vinh Hao Mineral Water a precious source,