xây dựng kế hoạch cho sản phẩm nutifood

1989: The Medicinal Plant Research Station was transformed into the Nutrition Center of Ho Chi Minh City, the Dong Tam Complex became the Dong Tam Food Base, where the research topics of nutritionists were applied to produce products. products to prevent malnutrition in children and feed the sick in the hospital. The typical product of this period is Enalaz the first nasogastric tube feeding food in Vietnam, contributing to the treatment of critically ill patients at hospitals across the country with the cost only 110 of the product. imported products.

MINISTRY OF FINANCE UNIVERSITY OF FINANCE – MARKETING Lê Thị Kim Thoa Võ Phan Cẩm Tú Nguyễn Xuân Quỳnh Nga 1921006832 1921005746 1921000934 MARKETING PLAN FOR PEDIA PLUS PRODUCT OF NUTIFOOD NUTRITION FOOD JOINT STOCK COMPANY TO PENETRATE THE US MARKET IN THE PERIOD OF 2022 - 2023 Speciallzation: MARKETING Majors: MARKETING ADMINISTRATION MINISTRY OF FINANCE Ho Chi Minh City, 2021 UNIVERSITY OF FINANCE – MARKETING MARKETING PLAN FOR PEDIA PLUS PRODUCT OF NUTIFOOD NUTRITION FOOD JOINT STOCK COMPANY TO PENETRATE THE US MARKET IN THE PERIOD OF 2022 - 2023 Speciallzation: MARKETING Majors: MARKETING ADMINISTRATION Students perform: Lê Thị Kim Thoa Võ Phan Cẩm Tú Nguyễn Xuân Quỳnh Nga TABLE OF CONTENTS TABLE LIST PICTURE LIST CHAPTER 1: OVERVIEW OF NUTIFOOD FOOD JOINT STOCK COMPANY AND PEDIA PLUS PRODUCTS 1.1 Overview of Nutifood Nutrition Food Joint Stock Company 1.1.1 Information about Nutifood Nutrition Food Joint Stock Company Company name: CÔNG TY CP THỰC PHẨM DINH DƯỠNG NUTIFOOD International name: NUTI FOOD JSC Tax code: 0301951270 Tax address: 281-283 Hoang Dieu, Ward 06, District 4, Ho Chi Minh City Legal representative: Tran Thi Le Website: www.nutifood.com.vn Date Range: 12/04/2000 Figure 1.1 Logo Nutifood Nguồn: Nutifood 1.1.2 History of formation and development 1989: The Medicinal Plant Research Station was transformed into the Nutrition Center of Ho Chi Minh City, the Dong Tam Complex became the Dong Tam Food Base, where the research topics of nutritionists were applied to produce products products to prevent malnutrition in children and feed the sick in the hospital The typical product of this period is Enalaz - the first nasogastric tube feeding food in Vietnam, contributing to the treatment of critically ill patients at hospitals across the country with the cost only 1/10 of the product imported products March 29, 2000: Derived from the success of the research and clinical applications of the Nutrition Center of Ho Chi Minh City In Ho Chi Minh City, Dong Tam Nutrition Food Joint Stock Company (original name of NutiFood) was established In 2020, the expanded NutiFood Binh Duong Factory (milk powder + liquid milk) was certified to meet food GMP standards, HACCP standards and continuously for the following years In 2008, NutiFood became a public joint stock company and had a successful IPO on the stock market In 2010, signed a cooperation agreement with ABS-QE Organization of the United States to build and monitor the Quality Management System and continuously renew it until now 2015: Started construction of NutiFood Vietnam Factory in Kien Khe Industrial Cluster, Ha Nam with a processing capacity of 200 million liters of fresh milk and 31,000 tons of powdered milk, the largest factory in the North 1.1.3 Organizational structure Administrative Council CEO Vice president Vice president Vice president Vice president Finance HR Marketing Sale Figure 1.2 Organization chart of the operation apparatus of Nutifood Source: Nutifood Nutifood Nutrition Food Joint Stock Company is organized according to the functional online chart The highest is the board of directors, then the director, below the director are the deputy directors in charge of functional departments such as finance, human resources, marketing, and sales 1.1.4 Duties and functions of departments 1.1.4.1 Administrative Council Duties: To be the ones who decide on company management issues Function: - Decide on issues related to share prices and issued bonds - Solutions to develop medium and short-term activities of the company such as: annual development strategy, market expansion, marketing activities, technology innovation - To decide on investment plans and investment projects within its competence - Decide the establishment of subsidiaries, branches or the acquisition of shares of other enterprises 1.1.4.2 CEO Duties: General Director is the manager and supervisor of all business activities, people as well as cooperative activities of the Company Function: - Decide on business activities - Strategic advisor to the president - Building and managing the enterprise structure - Build and maintain collaborative relationships 1.1.4.3 Vice president Finance Duties: Leading the management of financial affairs in the Company Function: - Conduct financial analysis to identify the strengths and weaknesses of the business - Planning the financial strategy of the business - Evaluating the operation programs of the Enterprise in terms of finance - Prepare budget contingency plans in appropriate forms to meet unexpected budget needs - Set up the capital structure of the Enterprise - Maintain the liquidity of the Enterprise and ensure sufficient financial resources for the Enterprise - Develop a reasonable profit sharing policy - Ensure that the assets of the Enterprise are controlled and used in a reasonable and profitable way - Establish and implement the cash management policy of the Enterprise to ensure there is enough cash to meet short-term payment needs - In charge of managing and directing the activities of Chief Accountant, Accounting Department, Finance Department, Import-Export Department and auditors, treasury on the basis of preserving and developing the Company's capital commitment time 1.1.4.4 Vice president HR Duties: Responsible for investor and public relations, coordinating with stakeholders to organize events, directly meeting with customers, partners, the media, building external relationships efficiency, improve the image and scope of business activities, be responsible for human resource management Function: - Coordinate the construction, management and orientation of the company's PR activities, deploy and monitor the brand promotion strategy through communication channels, and promote the company's image - Building relationships with agencies and departments for the purpose of enhancing the image and brand of the business - Develop and manage the company's human resource plans and processes - Planning, organizing and controlling the activities of the Human Resources department - Contribute to the development of HR department goals and systems 1.1.4.5 Vice president marketing Duties: Responsible for all marketing activities of the Company, performing brand management, marketing communication (including advertising, promotion, public relations), market research, management product management, channel management, pricing, and customer service Function: - Lead and supervise marketing activities - Make a Marketing Strategy - Branding - Ecommerce - Promotion - Market and user analysis 1.1.4.6 Vice president Sale Duties: Manage and run the activities of the International Sales Department to implement business strategies and goals Function: - Develop strategic goals for business activities in foreign markets; - Building the human resource structure for the international sales department, in order to achieve the set business goals - Develop policies to promote sales - Organizing the implementation of the sales plan and assigning targets to the staff; - Urging, monitoring and evaluating business activities to provide timely solutions - Care and maintain relationship with old customers Find new customers, expand the market - Negotiating and signing contracts with customers - Manage and track orders, coordinate with relevant departments, promptly solve problems to ensure on-time delivery - Collect and evaluate feedback from customers, competitor information - Resolve customer complaints within the permitted scope 1.1.5 Recent business results Nutifood's latest business results are shown below: Table 1.1 Nutifood's business results in the last years Unit: Billion VND Targets 2018 2019 2020 Net Revenue 7.734 8.944 8.440 Revenues 1.045 894 765 Total assets 5.149 5.408 6.255 Equity 2.067 1.742 1.904 Source: Financial report of Nutifood Nutrition Food Joint Stock Company Figure 1.3 Some financial indicators of Nutifood Source: Financial report of Nutifood Nutrition Food Joint Stock Company From the financial statements of the most recent years, it is shown that, in the period from 2018 to 2020, NutiFood's business results have slightly decreased, but are still very impressive In 2018, NutiFood's net revenue reached VND 7,743 billion, net profit was VND 1,045 billion, equivalent to a profit margin of 13.5% In 2019, NutiFood's net revenue reached VND 8,440 billion, down 5.6% compared to the previous year; net profit at 765 billion dong, while in 2019 profit was 894 billion dong As of December 31, 2020, NutiFood's total assets reached VND 6,255 billion, equity at VND 1,904 billion, up 15.6% and 9% respectively compared to the beginning of the year 1.2 Pedia Plus product overview Pedia Plus is a specially formulated product for FOOD children over year old, with a delicious taste to help stimulate appetite in children Nutritional deficiencies in order for the baby to catch up with the growth momentum Pedia Plus includes: - 110ml box - 180ml box - 237ml bottle Figure 1.4 Pedia Plus products in the US market Source: Nutifood PediaPlus has a special formula to help improve anorexia, support digestive health and resistance for children after weeks of use Clinically tested results on thousands of Vietnamese children and FDA certification for standards, production processes and factory systems not only prove the research and production capacity comparable to advanced countries of Vietnam Vietnamese enterprises, but also shows the enthusiasm of NutiFood experts in accompanying Vietnamese consumers Pedia Plus ready-to-drink milk powder is a premium product line exported to the US And now, Pedia Plus ready-to-drink milk powder is officially available in Vietnam Products to support children's appetite, supplemented with DHA to help develop brains and help enhance eyesight At the same time, Pedia Plus provides essential nutrients, supporting the healthy development of the digestive system 10 from banks with large assets, while small commercial banks focus on small and medium enterprises Third, about barriers from financial relations with State finance: the tax burden of Vietnamese enterprises in the US is still relatively high compared to other countries, which affects the business environment of Vietnam Nutifood, negatively affecting Nutifood's ability to access capital and development 2.2.3.3 Barriers to business practices and practices Americans use milk completely at will, not as stylish as Europeans and not too fussy, comfortable drinking, so the US is the world's largest milk consumer and Americans are also in the top The world's largest milk drinker, many Americans consider milk as a beverage, they can drink several cups of milk at a time Whether at home, school, work or public place and anywhere, anytime, one can smell the characteristic aroma of milk A dairy product that wants to penetrate the US market must first be a product of good quality, leading in innovation American dairy culture is quick, cheap, and convenient without losing its true bitter aroma milk American milk is usually pale, both in color and taste, they usually mix it in a large glass jar that can hold 10 people and are poured into disposable paper cups The popular way to enjoy milk in the US is Iced milk – condensed, hot milk with added sugar poured into an iced glass Americans often have the habit of buying milk at supermarkets or at grocery stores In addition, they like to drink milk at shops, or milk shops, drink milk in the morning or when chatting with friends Not only that, Americans often attach great importance to time, so they often have the habit of drinking milk while reading newspapers, watching the news or at work 2.2.4 Legal and political environment Currently, legal institutions related to export activities, including laws and regulatory documents, have made very positive adjustments These adjustments have created favorable conditions for all economic sectors not only to participate in export activities, but also to create a very flexible and open policy mechanism to help export business enterprises Importers get direct support (such as capital support, staff training, etc.) as well as indirect support (such as support for bank loan interest, tax rates, support for customs procedures, provision of information related to markets and partners, etc.) in order to quickly improve the competitiveness of Vietnamese export enterprises We can see these remarkable results through some adjustments in legal institutions as follows: 16 - Foreign trade business rights have been liberalized many times compared to the period before doi moi Enterprises of all economic sectors are allowed to import and export directly, although there are still some import restrictions for foreign-invested enterprises - Measures to control import and export goods have been relaxed All import and export quotas for goods have been lifted, leaving only one garment and textile product for export using the quota applied by the US market to Vietnam Export licenses have been lifted for many items, only a few items must be licensed by the Ministry of Trade and the Ministry of specialized management Administrative management measures for imported and exported goods have also been adjusted and rationalized more than before Measures to manage import and export by means of tariffs have been systematized and improved The list of goods classification in the Import and Export Tariff has been developed to ensure maximum conformity with regulations in accordance with international practices The structure of the tax rate schedule has also been revised towards clarity and transparency Import and export tax rates have been adjusted several times to keep up with changes in domestic and international production and business situations - The exchange rate policy and foreign currency management have also been renewed in a more relaxed direction Administrative interventions on foreign currencies and exchange rates have been phased out The management of the exchange rate has been carried out on the basis of the participation of market forces The previous administrative and imposing way of forming exchange rates has been abolished Instead, the exchange rate is determined on the basis of supply and demand interactions in the foreign exchange market Currently, the Ministry of Finance and the State Bank are coordinating with relevant ministries and branches to continue researching and perfecting the foreign exchange market, moving towards building a free foreign exchange market in line with international practices 2.2.5 Favorable US attributes for the Pedia Plus product 2.2.5.1 Strain market America is a metallurgical people Due to the ethnic characteristics of this country (according to this theory, over time, all races and peoples living in the United States will blend together to form a new people, like many people) metal that is smelted to liquid form in a "smelting pot" to smelt into an alloy) Indeed, there is practically no race that can be called "American" or a people that can be called "American people" In other words, Americans not have a distinct ethnicity like most other peoples When checking and censusing, the US State officially recognizes racial categories as white, black, Hispanic (immigrants from countries in Latin America), Asian descent and 17 people of Asian descent Indians In which, white Americans are the most numerous, accounting for 74% of the population, followed by black Americans with 13%, Asians with 4% (in 2020, there are 1,642,950 Vietnamese in the US and Indians less than 1%) As a country with too many races, there are huge differences in cultural traditions, customs and languages, so the relationship that binds racial and ethnic components in the US can form a National unity is very fragile Also due to the multiracial characteristics, in the US, there are no strong and mandatory social aesthetic standards and conventions like in other countries Different races still live according to their own culture, language, religion and over time mix and influence each other This has created a diversity in the consumption habits of Americans compared to the consumption habits of consumers in other countries A specific example of color can be taken: Asian-Americans prefer bright and background colors, while European-Americans prefer warm and vibrant colors Color preferences vary from North to South, Northerners prefer warm colors such as red, brown while Southerners prefer cool colors such as blue, white, light brown 2.2.5.2 Consumer market, consumer tastes First of all, it must be seen that America is a people that loves shopping and consuming They have the mentality that the more they shop, the more they stimulate production and service growth, so the economy will grow Goods, whether high or medium quality, can be sold in the US market because the population in this country consumes a lot of goods Unique geographical and historical features have formed the largest and most diverse consumer market in the world Abundant resources, not heavily affected by the two world wars, plus a long-term economic development strategy have given the US a huge economic power and high income for the people With that income, shopping has become an indispensable feature in the modern culture of this country The store is not only a place where Americans come to buy goods, but also a place where they hang out, meet to chat and expand social communication For the same items, the time spent by US consumers may be as little as half that of consumers in other developed countries With such a rapid change, the shopping demand of the American people is very large and stable That's why the price of goods plays a very important role This explains why consumer goods from some developing countries are of lower quality but still have a place in the US market because their prices are really competitive (while this is unlikely in Europe) 18 The large geographical area and diverse landscapes also give Americans a habit of traveling and exploring at home and abroad All consumer goods related to car travel have a huge market Sports related goods are selling well with all segments of the market from very expensive goods for the high-income people to cheap goods for the poor With the current US financial crisis, US consumption has decreased, Americans have switched to consuming cheap and essential products This new US consumption trend can benefit Vietnam “Americans are now more frugal and don't go shopping in expensive stores anymore Americans' demand for cheap goods will have a more positive impact on Vietnam," US Ambassador Michael Michalak told the press on November 13, 2020 in Hanoi Moreover, since President Obama took office, There have been measures to stimulate the economy, so the US economy has gradually stabilized, specifically: according to a report on Monday (March 2) of the US Department of Commerce, consumption has increased by 6% in January 2021, the largest increase since May 2020 With this development, Vietnam has many advantages and needs to promote and take advantage of its advantages in exporting goods to the US 2.2.5.3 The market has a wide and complete distribution system Over time, American consumers have an almost absolute confidence in their retail store system, they have a guarantee of quality, warranty and other safe hygiene conditions This also makes them have a very strong first impression of new items If this impression is bad, the goods will have little chance of coming back Thus, entry by individual exporters rarely threatens the commercial presence of first comers The path that Japanese businesses have taken, which usually takes 10-20 years to gain trust, is now somewhat unsuitable in the US market The reason Americans put their trust in the domestic distribution system is also because this system has proven its superiority in the distribution of goods The operating motto of this system always puts prestige on top, protecting the interests of consumers Besides, American distributors have also built a very complete, sophisticated and extensive distribution network to bring goods to consumers The form of requesting the delivery of goods via the Internet has also been widely applied in the US market for a long time and is increasingly being perfected It is the completion of the distribution system in the US market that is a favorable condition for Vietnamese businesses when exporting to this market (of course, before entering, measures must be taken to learn and master) structure and characteristics of the distribution system) 19 2.2.6 Restrictions on exporting milk to the US market Currently, Vietnamese milk has been exported to nearly 40 countries and territories The main export markets of Vietnam's milk are the US, Germany, Spain, Italy, the UK, France, Japan, Belgium, China, the Netherlands, Poland in which Germany and the US alternate are the two largest milk consuming markets of Vietnam However, Vietnam's milk export price is still low and is completely dependent on the international market The main reason for this situation is because the product quality is lower than other countries and because Vietnamese exporters are still outside the international trading floor One of the reasons why Vietnamese milk has low quality is because Vietnam's primary processing technology is still weak and inconsistent Besides, farmers have a habit of harvesting milk mixed with both ripe and green fruits Therefore, even with good preliminary processing technology, Vietnam's nut milk exports are still inferior to other countries Therefore, experts say that, in addition to improving the quality of exported milk to have a better export price, Vietnam needs to increase the export value of milk through processing, promoting domestic consumption, reduce the dairy industry's dependence on foreign business producers However, at the present time, Vietnam's dairy processing industry has only developed to a certain extent, so its advantages have not been fully promoted Another limitation is that over the past 10 years, Vietnamese businesses have still priced milk by relying on resale information of Reuters news agency, deducting costs, converting into Vietnamese dong at the exchange rate and then offering local selling price While for hundreds of years, world dairy businesses have only traded through large futures markets like NYMEX (New York) Some Vietnamese dairy enterprises are still apprehensive about how to transact in this market Joining the world exchange will help businesses quickly access foreign markets In fact, thanks to market judgment and the use of forward contracts as a tool, it has partly limited risks for businesses In addition, Vietnam's milk exports also face tariff, anti-dumping and trade protection barriers of the US, thus hindering the export as well as the export advantages of this product 2.3 Market potential for Pedia Plus product and first year sales forecast 2.3.1 Market potential When assessing the potential in terms of the size of a market, people often consider the population of that market and, more importantly, the level of disposable income of the people in that market In both these respects, the US appears to be a promising market According to the US Census Bureau, the population of this country reached 303 million 150 thousand people in 20 January 2020, ranking 3rd in the world (after China and India ) With rich and diverse natural resources (oil, gas, coal, uranium ore, hydroelectric power ) the United States has reached the level of an industrially developed country with an average income per capita in 2008 about 45,000 USD/person, ranked among the countries with the highest per capita income in the world According to a study by the Federal Bank, the US has more than million in total 97 million households in the US have net assets of million USD or more With such a high income, the shopping and consumption needs of Americans are very significant, making the US a huge market for goods of other countries Although the US is currently falling into an economic recession and financial crisis, Vietnam still has a great opportunity to export to the US because the US fell into a crisis that made American people used high-end goods, now before the crisis, they will switch to using cheaper products, pure goods These goods Vietnam has production capabilities and has great advantages And important than when Vietnam has joined the WTO, as well as signed multilateral bilateral trade agreements with the US, creating great opportunities for Vietnam when exporting to the US 2.3.2 Sales forecast for the first years The prospect of trade relations between the two countries in the coming time is forecasted to be very positive The development trend of trade relations between Vietnam and the US in the coming years is governed by many factors According to the forecast results of a number of research projects published by the Ministry of Trade, in the period of 2021 - 2025, Vietnam's export turnover to the US will reach an average growth rate of 15-17% per year and in the period of 2021 - 2025 is 13 - 14% per year Meanwhile, Vietnam's import turnover from the US will achieve a higher average growth rate of 18 - 20% and the next period from 2021 to 2025 may decrease to 13% per year In addition, based on the revenue plan in Vietnam in the past time, the Pedia Plus product is expected with the revenue set out according to the marketing plan as follows: Table 2.2 Sales forecast for the first years of Pedia Plus products in the US market Unit: VND Year Expected revenue 1,450,000,000 1,667,500,000 1,667,500,000 1,838,419,000 1,930,340,000 2,026,857,000 Average monthly revenue in Vietnam market 1,310,000,000 1,450,000,000 1,450,000,000 1,598,625,000 1,678,557,000 1,762,484,000 Expected difference when promoting Marketing program 140,000,000 217,500,000 228,375,000 239,794,000 251,783,000 264,373,000 % contribution to increase revenue of Marketing plan 11% 15% 15% 15% 15% 15% Source: Nutifood's forecast 21 In the first year period, the expected contribution to revenue growth is 11% In the following years, after stabilizing in the market, the revenue contributed from the Marketing plan is expected at 15% over the years CHAPTER 3: MARKETING PLAN IMPLEMENTATION OF OPERATIONS IN THE FIRST YEAR OF INTERESTING THE US MARKET 3.1 Define plan goals 3.1.1 Penetrating and developing in the US market - Dominate the nutritional milk market in the US of Fonterra - The goal is to put the company on the international stock exchange and build a "nutrition milk empire" in the future 3.1.2 Revenue target Through marketing campaigns to help drive sales: - Average annual growth rate of 5% - 10% - The average annual revenue is from 2.5 to billion VND - Average annual business capital from to 4.5 billion VND - Average annual profit after tax is from 300 to 400 million VND Table 3.3 Target for sales of Pedia Plus products in the period of 2021 - 2025 Unit: billion VNĐ No Targets Revenue Profit Capital 2021 2,5 0,5 2022 2,7 0,7 4,5 2023 2,9 4,5 2024 2025 3 1,5 1,5 4,5 4,5 Source: Nutifood 3.2 Implementation plans Option 1: Normal export Exporting is the simplest method for domestic enterprises to expand their markets Enterprises only need to produce goods and transfer them to foreign enterprises, the enterprise 22 will make sales in foreign markets At that time, their products will be consumed by foreign markets Option 2: Direct investment Invest in dairy factories, invest in dairy farms, open Nutifood dairy stores right in the US Option 3: Franchise business According to the International Business Franchise Association - the largest association in the United States and the world, the concept is stated as follows: "Francess is a contractual relationship, between the assignor and the franchisee, under which The Transferor proposes or must maintain a constant interest in the Recipient's business in such aspects as: know-how, staff training; The Receiver operates under the trademark, methods or methods of doing business owned or controlled by the Transferor; and the Receiver is, or will be, making a substantial capital investment in the enterprise with its own resources Option 4: Joint venture Nutifood will associate with a company in the US The advantage of this form is that Nutifood can take advantage of the partner's production facilities and experience in the Philippines market to reduce production costs and penetrate the market better However, the risk is also great when it is difficult to control the product quality as required by Nutifood Nutifood is positioning itself as a clean milk production company If there are any problems related to Nutifood's milk quality, it will greatly affect not only Nutifood's reputation in the Philippines but also in the domestic market Option 5: Standardization Canned fresh milk when exported to the US will have the same quality, taste, specifications and appearance as canned fresh milk consumed in the domestic market The production process and quality control are exactly the same for the two types of milk This strategy has the advantage that it can reduce costs due to the advantage of scale, without having to invest in new machinery, equipment and raw materials for production However, the disadvantage is that the taste preferences of Filipino consumers are different from Vietnamese consumers, which will make it difficult to consume products Option 6: Adaptation Canned fresh milk when exported to the US market will be different from fresh milk consumed domestically to suit the tastes and needs of American customers To implement this strategy, enterprises need to invest in new production lines to produce products suitable for the US market, leading to an increase in initial costs 23 3.3 Evaluate and select options To evaluate the options, the group of students conducts the scoring as follows: Table 3.4 Evaluate and select options Criteria Option Option Option Option Option Option Total Weight (%) Score (1-10) 20.51 12.82 17.95 15.38 17.59 15.38 100% 7 Total = Score x Weight 164.08 64.1 125.65 92.28 125.65 92.28 690 Source: Student group made Option 1: Exporting milk to the US market - this is the option with the highest choice with points, accounting for 20.51% Thereby, the availability of Nutifood is most suitable for this option Option 2: Investing in dairy factories – This option is the least chosen, accounting for only 12.82% It can be seen that the potential risks as well as the ability to invest in a factory in the US is the most difficult and expensive thing for Nutifood Option 3: Franchising – Occupying 17.95% is the second highest option after option With the current business situation in the US of Nutifood, this activity is feasible but not really optimal Option 5: Standardization - accounted for 17.95%, equivalent to the second highest choice This is a suitable option in the current context in the US market 3.4 Decide on a plan Nutifood has decided to enter the US market through two ways: Export and Franchise 24 3.4.1 Normal export plan According to the Vietnam Dairy Association in the US market, Vietnamese milk accounts for less than 15% of the volume and 6% of the total value of US milk imports, and 90% of Vietnamese milk is exported to the US in the form of unprocessed ingredients , only 10% canned processing In 2019, Nutifood had a breakthrough, launching Pedia Plus product and gradually bringing this product to markets in many developed countries, including the US - Product quality: Nutifood offers the criterion of "convincing consumers by quality" This is very clearly shown by the fact that Nutifood has created a special formula: Good ingredients + high technology + Oriental know-how + a new perspective on nutritious milk Pedia Plus is produced by Nutifood from raw materials that are pasteurized fresh milk ingredients selected at Gia Lai dairy farm, which is rated as the best in the world by its strong taste, rich in pure milk flavor Product packaging: The boss of Nutifood once said “Packaging is a silent but effective seller” So Pedia Plus products are also carefully invested with luxurious and modern packaging designs Price policy: Nutifood always attaches great importance to reducing production costs, lowering product costs, thereby improving competitiveness with other businesses To reduce product costs, the company has also introduced many practical policies such as: - Invest in technology lines, increase labor productivity and product quality - Improving business methods, management, motivating workers to work, improving the efficiency of using machinery and equipment - Training and fostering to improve business and management skills - There are preferential and discriminatory policies for each customer group For intermediate customers, Nutifood also has reasonable financial terms to create a bond between Nutifood and intermediary customers 3.4.2 Direct investment Nutifood built a dairy factory in the US The advantage of this form is saving transportation costs, complete control of production and business However, its limitation is that the investment capital to build a dairy factory according to the standard process is very large, the labor cost of the US is higher than that of Vietnamese workers, Nutifood has no experience in the market If this happens, it will cause great damage to Nutifood 25 3.4.3 Penetration through franchising After a number of large markets successfully implemented franchising activities such as Japan, Singapore, etc., Nutifood approached the US market, in addition to exporting goods, Nutifood will open a Nutifood restaurant after the franchise agreement of Nutifood in this country This is a business model in which the business owner or franchisor distributes its products and services through affiliated agents or franchisees Franchising usually comes with certain benefits 3.4.4 Standardization of export products To bring nutritional products into the US, not only must the product meet hundreds of strict standards of the US Food and Drug Administration (FDA), but the enterprise's factory must also have certification FDA is assessed by an Accreditation Organization authorized by the US FDA After nearly years of pursuit, NutiFood has successfully conquered the "visa" to the US when it was granted the US FDA certificate in early 2018 months later, the first product Pedia Plus was launched by Delori's partner California supermarket shelves 3.5 Predicting the risk of entering the US market of Pedia Plus products For the US market, consumers pay more attention to quality than price In particular, Americans have a preference and habit of using products with famous brands in the world because they think that using famous branded products will be very secure in terms of quality and safety for users Changes in consumption trends: currently, due to expensive costs, consumers are cutting back on spending, in which the cost of products such as milk will be affordable and for the majority of consumers Like to buy in sales, promotions This shows that the consumption of textiles and garments in the US market will not decrease, but the purchase value will decrease In addition, despite reducing spending, US consumers also not like to use low-cost products that in the production process harm the environment, use child labor, or are made from raw materials exploitation of workers Recent statistics show that 77% of US consumers care about environmental conditions, 72% focus on product-related services and 51% pay attention to quality To satisfy the needs of customers in the US, the company's garment products need to comply with the following standards: Regulations on origin of goods; US standards for quality and environment are very strict, the company can hardly meet all of them; Social responsibility standard SA 8000: only very few Vietnamese enterprises comply with this standard 26 CONCLUDE Succeeded in the domestic market by clean milk products produced by a closed process from the care and management of cows to the system of preservation and distribution to consumers, the Nutifood brand name, in particular, Pedia Plus milk product is completely capable of competing with other dairy products on the world market Based on product knowledge, as well as actual analysis and assessment of potential markets, the US hopes to be the market that lays the first foundation for affirming the voice and position of dairy products Pedia Plus on the world market The first steps in the process of raising the level of Vietnamese milk and bringing the Pedia Plus brand to the world will face many difficulties The market penetration strategies that the team has researched based on the actual analysis of the national market will be the first step on the way to "integration" of Vietnamese dairy products to the world 27 REFERENCES General Statistics Office (2020) Statistics of Vietnam's milk output exported to the US market General Statistics Office; NUTI FOOD JSC (2020) Annual report 2020 HCMC: Annual report World Economic Magazine (2020) Import turnover of the US New York: World Economic Magazine; 28 PLAGIARISM TEST RESULTS 29 BẢNG PHÂN CÔNG CÔNG VIỆC Họ tên sinh viên Lê Thị Kim Thoa Võ Phan Cẩm Tú Nguyễn Xuân Quỳnh Nga Nội dung đóng góp OVERVIEW OF NUTIFOOD FOOD JOINT STOCK COMPANY AND PEDIA PLUS PRODUCTS MARKETING PLAN IMPLEMENTATION OF OPERATIONS IN THE FIRST YEAR OF INTERESTING THE US MARKET ANALYSIS OF THE US MARKET Đánh giá 100% 100% 100% Tp Hồ Chí Minh, ngày 22 tháng năm 2021 Đại diện nhóm sinh viên thực Nguyễn Xuân Quỳnh Nga 30 ... required by Nutifood Nutifood is positioning itself as a clean milk production company If there are any problems related to Nutifood' s milk quality, it will greatly affect not only Nutifood' s... as Japan, Singapore, etc., Nutifood approached the US market, in addition to exporting goods, Nutifood will open a Nutifood restaurant after the franchise agreement of Nutifood in this country... Finance HR Marketing Sale Figure 1.2 Organization chart of the operation apparatus of Nutifood Source: Nutifood Nutifood Nutrition Food Joint Stock Company is organized according to the functional