Industry analysis of Coca Cola in Viet Nam

Table of Contents Introduction to Coca-Cola Vietnam: Coca cola- business environment in Viet Nam: Figure 1: Contribution and value growth of several groups in the FMCG industry Figure 2: Growth of business environment of Coca-Cola in Vietnam Analysis of competitors of Coca-Cola: A, PepsiCo: .9 B, Big Cola: Business functions of Coca-Cola in Vietnam: 13 Figure 3: Organizational chart of Coca-Cola .14 Conclusion: 17 Executive summary Coca-Cola has ascended to the pinnacle of the drink industry Coca-Cola is expanding its marketplace part in Vietnam and swiftly becoming a popular beverage among both young and old people In order to build an efficient business plan, it is necessary to research about the industry and the company The influence of the macro-environment on the development of the business does not end there; the functioning of the company's departments, referred to as the internal environment, is equally critical The primary section provides an overview of Vietnam's sub-sectors (community, private, and volunteer), as well as the market size and growth of Vietnam's foreign company, with a focus on the Coca-Cola Vietnam sector To establish the brand's position, it must be compared to competitors, most notably Pepsico and Coca-Cola Finally, because the smooth running of a company's internal apparatus influences its performance, an investigation of Coca-Cola Vietnam is necessary to explain how internal departments operate and how interrelationships are formed by the organization's structure Coca-Cola currently operates on a functional basis In this organizational structure, organization operations are organized into functions, and each function will have a particular task A functional structural construction approach benefits Coca-Cola Vietnam, however there are certain limitations 1 Introduction to Coca-Cola Vietnam: Coca-Cola is the most popular soft drink brand in the world Produced by the Coca-Cola Company, it is sold in more than 200 countries and is often referred to simply as Coke Around the world, Coca-Cola operates in regions which are North America, Latin America, Europe, Eurasia & Middle East, Asia, Africa Its flagship product is carbonated beverages, but the company also manufactures non-carbonated beverages such as bottled water, juice, and energy drinks In 1886, pharmacist John Stith Pemberton created a milk syrup and sold it to the largest pharmacy store in Atlanta But, after just years in the syrup business, with only nine goods sold each day, he died in 1888 Coca-Cola was first introduced in Vietnam in 1960 and has been back since 1994 after the US lifted the trade embargo The first joint venture between Coca-Cola Indochina and Vinafimex was established, headquartered in the North Joint ventures in Da Nang and Hanoi also changed to a similar form of ownership Coca-Cola is one of the global firms that has made significant contributions in Vietnam, as evidenced by particular metrics published by PwC for the period 2016–2018 Customers of Coca-Cola in the Vietnam market are young people or households This can be seen in the ads of Coca-Cola; they deliver the right inspirational messages For example, Coca Zero will be suitable for adults in the family because the elderly often doesn’t tend to eat too many sweets, and for the young, on the contrary, they always want to find new and fancy things Each year Coca-Cola Vietnam contributes an average of 3,500 billion VND to the national GDP, equivalent to about 0.11% of the country's GDP The company has created 80,076 jobs on average annually, of which 2,370 occupations are created from direct activities of enterprises, with a payment of 2,400 billion VND in salary, bonus, and welfare for employees, 77,706 indirect jobs made from the source chain (Staff, 2019) From there, we can see that Vietnam is one of the countries with potential markets for Coca-Cola to operate There are four types of legal structures: - Sole Proprietorship: "A sole proprietorship—also referred to as a sole trader or a proprietorship—is an unincorporated business that has just one owner who pays personal income tax on profits earned from the business." (TWIN, 2021) - General partnership: '' is a business arrangement by which two or more individuals share in all assets, profits, and financial and legal liabilities of a jointly-owned business In a general partnership, partners agree to unlimited liability, meaning liability is not capped and can be paid through the seizure of an owner's assets Furthermore, any partner may be sued for the business's debts." (BLOOMENTHAL, 2020) - Limited liability: '' is a type of legal structure for an organization where a corporate loss will not exceed the amount invested in a partnership or limited liability company (LLC) In other words, savers' and owners' private assets are not at risk if the company fails.''(HAYES, 2021) - Corporation: ''is an independent legal entity owned by shareholders, in which the shareholders decide on how the company is run and who manages it.'' (Kunz, 2019) In short, the legal structure of Coca-Cola is a private limited liability company In terms of scale, this is a for-profit organization 2 Coca cola- business environment in Viet Nam: Figure 1: Contribution and value growth of several groups in the FMCG industry Source: Nielsen Vietnam Strong economic growth, rapid urbanization, and a burgeoning middle class are driving the beverage business in Vietnam The Vietnamese market offers opportunities for international players to expand their reach Industry players are banking on both organic and inorganic growth strategies to strengthen their foothold in the market However, the current challenges are mainly related to strong competition from other beverages that are cheaper or more popular than soft drinks or beer due to the prevailing cultural preference for fresh fruit juices Vietnam is a market with high potential for food and beverage consumption In the first nine months of 2018, the consumption index for nourishment dispensation then drink industrial climbed by 8.1 percent and 10.2 percent, respectively, over the same time previous year (according to GSO) In terms of prospective growth, the food and beverage industry presently accounts for around 15% of GDP and is expected to rise in the future Furthermore, with a rising share of the youthful population (it is estimated that more than half of Vietnam's population is under 30 years old), income levels have increased, and the habit of shopping for ready-to-eat food is becoming increasingly popular The abundance of agricultural products - the source of raw materials for food and beverage processing activities benefits businesses in the industry by allowing them to diversify product categories in order to meet the constantly changing needs of consumers, and these favorable conditions contribute to Vietnam becoming a potential food and beverage market in the region The three fastest-growing groups in the FMCG (fast-moving consumer goods) business are beer, non-alcoholic drinks, and food (Ministry of industry and trade, 2018) However, Coca-aim Cola's is to innovate and make a difference in the world Coca-Cola creates brands and beverages that people love and inspires both physically and mentally while developing sustainable brands for a better-shared future In detail, they have 12 brands and main drinks in Vietnam For example: Sprite, Fanta, Dasani, Figure 2: Growth of business environment of Coca-Cola in Vietnam Source: Vietnambiz According to Figure 2, In recent years, Coca-income Cola's has consistently increased by trillions of dollars every year Coca-income Cola's in 2016 was VND 6,872 billion, which climbed by VND 346 billion to VND 7,218 billion in 2017 According to the most recent data, Coca-Cola Vietnam's revenue in 2019 was VND 9,297 billion, a percent increase over the previous year - Macro environment:  Political factors:  Vietnam is building a market economic institution tasked with adopting new laws, regulations, and modifying old legal documents every year This illustrates that the government has put in place measures to encourage businesses to invest in their operations Localities establish their own local attractions to attract investment Through its effect on the corporate environment, the government has legally transitioned from a direct intervention method to an indirect regulation mechanism This improves the macroeconomic climate for Coca-Cola in particular and enterprises in general  Economic factors:  The income of Vietnamese consumers increases very slowly, the purchasing power also increases very slowly, the structure of goods purchased is very weak However, certain high-income consumers have extremely high purchasing power, resulting in income and shopping stratification Besides, the difference in purchasing power between classes of the population, between urban and rural areas, plains, and mountains Since then Coca-Cola knows the consumer market of Vietnam so that it can make reasonable sales and marketing policies  Sociocultural factors:  Many Vietnamese citizens are practicing healthier lifestyles This has affected the non-alcoholic beverage industry in which many people are turning to bottled water and “diet” colas instead of beer and other alcoholic beverages The demand for bottled water and other better and healthy products is very important in daily life  Consumers between the ages of 37 and 55 are also increasingly interested in nutrition There is a large part of the population of the baby boomer’s generation (those born between 1946 - 1964) As more people are reaching old age, they become more concerned with increasing life expectancy This will continue to affect the non-alcoholic beverage industry in a way that increases overall demand and demand for healthier beverages  Technological factors:  The efficiency with which the company's marketing and advertising operations operate New internet and television technology use special effects to advertise through the media These technologies make certain products look appealing, making them easier to consume… The use of tin cans and plastic bottles instead of glass bottles boosted sales for Coca-Cola because these are easier to carry around and you can throw them in the trash after use With advanced technology, new types of machines are continuously born Due to the introduction of these machines, the efficiency of Coca-Cola Vietnam in production has increased a lot compared to a few years ago - Global factors affecting the beverage industry Vietnam: o International competitiveness, customer aversion, and unpredictable market pricing define the global beverage business There are many ways that global factors like these can affect the beverage industry in Vietnam + Consumption with an intent: o New age customers, particularly millennials, are concerned with their health They expect functional advantages from the beverages they drink on a daily basis This habit has resulted in the emergence of a new category of beverages known as "wonder drinks." Infused sparkling water and plant-based milk beverages are two common examples Global influences such as changing lifestyles and growing health consciousness have an impact on the beverage sector in Vietnam + Personalization: o From newly financed start-ups to well-heeled multinational giants, practically all beverage industry participants are working hard to suit the never-ending wants of new-age customers + Economic situation: o The worldwide economic condition has an impact on the global beverage business The economic situation in Vietnam has recently improved, which has contributed to an increase in disposable incomes for the population This means that the population may now be able to spend more on products like soft drinks Analysis of competitors of Coca-Cola: A, PepsiCo: - General introduction: + Pepsi officially entered the Vietnamese market in 1991, and the strategic connection information between Suntory (Japan) and PepsiCo (USA) firms, formally known as Suntory PepsiCo, has been in place for about 22 years Pepsi has grown to become one of the most important brands in the commercial and beverage industries since its inception According to the latest update from the recruiting portal Neuvoo, Suntory PepsiCo now has manufacturing units, sales offices, and 2800 direct workers This is a brand that has been honored 15 times with the title of High-Quality Vietnamese Goods after a lengthy period of struggling, demonstrating the huge appeal of this product Pepsi Vietnam has since expanded its operations into many more product lines, including bottled water, fruit juice, energy drinks, and tea, with product names including Sting, Twister, Lipton Ice Tea, Aquafina, Tea Olong Tea Plus, Mountain Dew, and so on (Wood, 2017) - Organizational structure of Pepsi in Viet Nam: Pepsi has its regional headquarters in Vietnam which manages all of its production and distribution operations in the country The organizational structure of Pepsi Vietnam is based on a three-tier model: The Ho Chi Minh City office is responsible for overseeing the functioning of all factories and warehouses, while regional offices take care of local marketing and sales activities The organizational structure consists of three tiers: - The Ho Chi Minh City office oversees the functioning of all factories and warehouses, - Regional offices take care of local marketing and sales activities, - Trader offices sell to third-party retailers such as supermarkets or specialty stores B, Big Cola: - General introduction: + Big Cola is a brand of AJE Group AJE Group was born in 1988 in Peru Initially, AJE produced soft drinks from processed beer bottles and then sold them to residents around the area through small self-opened shops However, only three years later, AJE has expanded its operations to other cities while remaining focused on rural areas It was not until 1997 that AJE reached Lima, the capital of Peru (Our History - AJE Group) - Organizational structure: + The organizational structure of Big Cola Beverage Company in Viet Nam is divided into functional areas: Sales & Marketing, Finance & Accounting, and Operations  Sales & Marketing is responsible for developing and managing marketing campaigns to establish a competitive edge over other beverage brands, Finance & Accounting maintains accurate records on the finance department maintains accurate records of all transactions, payroll, bank balances, taxes, and other financial aspects of the company so that the accountant can their job properly The finance department also handles any work with government agencies to keep everything on track legally for tax purposes  • The accountant is in charge of everything in the firm's possession, as well as everything that has been received or manufactured They are responsible for compiling financial statements which include balance sheets, income statements, trial balances, budgets, cash flow forecasts, and budgets for future planning purposes Type of product Vision Coca-Cola VietNam Coca-Cola, Coca-Cola Light, Coke Zero, Sprite, Fanta, Minute Maid Nutriboost, Minute Maid Teppy, Schweppes, Dasani and Aquarius PepsiCo Viet Nam Pepsi Cola, Sting, Mountain Dew, Tropicana Twister, 7UP, 7UP revive, O Long Tea Plus, Mirinda, Lipton Tea, Aquafina, Boss Coffee Big Cola Big Cola Create brands and beverages that people will like and that will inspire both the body and the intellect Simultaneously, grow in a sustainable manner and toward a better shared future, bringing beneficial consequences to the lives of individuals, communities, and the whole globe (Coca-Cola Viet Nam) We aspire to be the global leader in convenient meals and beverages through Winning with Purpose "Winning with Meaning" represents our desire to succeed in the marketplace in a sustainable manner and to incorporate purpose into all parts of our business strategy and brands (About the Company) The vision of Big Cola is to be a leading beverage company by focusing on the most innovative products and ideas, setting a new standard for product quality, and delivering outstanding customer service They believe that there is a need for more innovation in soft drinks They aim to target the healthconscious population who are looking for beverages with fewer calories but Objective s + FOR A BETTER FUTURE, in which CocaCola will continue to invest to improve the lives of everyone - from corporate system employees to investors and the entire community; and FOR A BETTER FUTURE, in which CocaCola will continue to invest to improve the lives of everyone - from corporate system employees to investors and the entire community + Win the market, be more consumer-focused, and accelerate investment for top growth + Expand our portfolio to win locally in convenience food and beverages It is mainly engaged in the production and marketing of carbonated soft drinks, fruit drinks, bottled water, concentrates, and syrups for the healthy beverage market Price • 3A Strategy -Affordability: Reasonable price, therefore it is affordable To enter the market, Pepsi used a low-cost new product pricing strategy in the goal of more taste They also hope to attract new customers who are looking for healthier options In order to provide great customer service, they hire staff members who have undergone rigorous training in order to meet their high standards and be able to provide excellent customer service at all times (Our mission, vision and values - AJE Group, n.d.) + In 2008, Big Cola Beverages Company entered the Vietnamese market It has been a major player in the country for a decade and a half year The company has recently created a new marketing campaign to serve as a refreshment for its customers +Big Cola's objective is to increase brand awareness and strengthen brand equity in Vietnam while expanding into other countries in the ASEAN region This will be achieved by using strategies such as product innovation, marketing campaigns, sponsorship of cultural events, and partnerships with local distributors AJE Big Cola’s strategy for its product is to offer different prices for different target to anybody - Availability: If the product is available, it can be purchased at any time - Acceptability: Make sure people like and accept the product, and that they are happy when they buy and drink CocaCola • Strategy - Price to value: Customers may not only buy Coca-Cola, but they can also get CocaCola merchandise - Pervasiveness: Make Coca-Cola products available to customers at all times and in all locations - Preference: Make customers feel like they're a member of the CocaCola family, with CocaCola being the first choice attracting a large number of customers and attaining a significant market share -Discount pricing: Pepsi will lower its prices to reward customers who pay in advance or buy in large quantities A cash discount is given to consumers who buy and pay on time, whereas a quantity discount is given to customers who buy in large quantities -Product Type Discriminant Pricing: Under this pricing model, Pepsi products and items are priced differently, but in proportion to their respective costs customers This strategy has been devised so that they will be able to sell more units of the product each month and at the same time, explore new markets and increase their return on investment (ROI) The AJE group's Big Cola product is one of Coca-competitors Cola's in the Vietnam market AJE inked a contract with Tan Hiep Phat Group, one of Vietnam's leading beverage firms Despite its significant expansion, Tan Hiep Phat is still under pressure from multinational competitors with vast cash resources, notably Coca-Cola Vietnam A big strength of Coca-Cola compared to Tan Hiep Phat is that Coca-Cola has a factory in the Central region, which helps Coca-Cola's distribution network become more widespread and denser This shows that Tan Hiep Phat will face more difficulties in its distribution network expansion campaigns in this potential Central market Thus, it is difficult for Big Cola products to access the market in the central region of Vietnam Coca-Cola and Pepsi offer similar pricing strategies with discount pricing, offering incentives to large customers with large purchases and early payment Both companies price products based on the perceived value of the buyer through the marketing mix activities Coca-Cola also has another advantage in the system of the fast-food chain, which helps it expand its distribution system and limit its expansion Both Coca-Cola and Pepsi have long acquired this effective distribution channel, which both helps Coca-Cola expand its distribution system, increase its coverage, and is also a way for Coca-Cola to limit its expansion Another domestic competitor, especially here is AJE's Big Cola Furthermore, both Coca-Cola and Pepsi utilize the market penetration pricing strategy to price new goods relatively low in order to attract a big number of customers and gain a substantial market share Moreover, both of these beverage firms have suitable price modifications for distributors and customers, in addition to varying pricing for different goods in accordance to manufacturing costs Early payment, bulk purchase, customers who buy and pay right immediately receive a cash discount, while customers who buy in bulk receive a quantity discount Business functions of Coca-Cola in Vietnam: Coca-Cola has created and is perfecting a seamless and highly efficient distribution network Due to the features of the item, which is for modest and common consumption and assures cheap costs, the distribution stage is very significant not only in terms of time and place, but also in terms of low cost and prestige Despite the fact that Coca-distribution Cola's network is vast and sophisticated, credit goes to Coca-Cola The Coca-Cola Company (TCC) and The Coca-Cola Bottler are two distinct enterprises within the Coca-Cola Corporation (TCB) TCC is in charge of the manufacturing and delivery of Coca-Cola essence to the plants, as well as the brand's promotion and administration TCB is in charge of the manufacture, storage, warehousing, distribution, and servicing of Coca-Cola goods That is, TCB is in charge of Place, while TCC is in charge of the remaining 3Ps (production, pricing, and promotion), and this model has been used consistently all over the world, including Vietnam TCC has three representative offices and three bottling operations throughout Vietnam, all of which work under a single system overseen by the main office in Thu Duc HCM It consists of the following Function Rooms: Figure 1: Organizational chart of Coca-Cola Source: Adapted from Coca-Cola Vietnam a, Financial Accounting: - Function: + Financial analysis of the organization + Identifying and forecasting business possibilities + Developing cost-cutting measures + Ensuring financial operations are in conformity with the law and meet state duties Financial activities are mainly carried out in Ho Chi Minh City while other branches mainly perform accounting operations, record books and transfer data to the head office for consolidation b, Operational production room: - Function: + Production planning: Based on the production and consumption plan, this department will set up a plan from the beginning of the initial input of raw materials to the completion of the product with a certain time and cost + Procurement of materials: this department directly works with suppliers of raw materials, equipment and packaging to ensure correct, sufficient and timely supply + Engineering includes the planning, design, installation, operation, and maintenance of the entire machine as well as the production transmission + Warehouse operations and coordination: Receiving orders and processing orders, delivering to delivery points on time, quality, quantity and location + Quality management: ensure the products produced in accordance with international standard formula + Production: responsible for production, come up with architectures to improve production efficiency, ensure product quality c, Marketing room: This department is frequently placed in the sales department at branches, but it still has a separate duty of offering marketing strategies appropriate for each market, such as advertising, promotion, market research, and product promotion Products There are two types of marketing activities: brand management and marketing activity management d, Saleroom: The company's sales system is divided into types: Direct sales and indirect sales, which are transported from the manufacturer through commercial intermediaries, distributors, agents, and organizations outside the company to the hands of the company Using this system helps to overcome the disadvantages of the direct distribution channel when serving small groups of consumers because it saves costs and takes advantage of the available resources of distribution intermediaries The sales system in Vietnam is divided into three regions: north, central, and south, each of which is managed by RSM, the country's highest level of management (Regional Sales Manager) In each region, there is also a training and skills development department headed by the director in charge of all domains (National Development and Capability Manager) who has the function of training staff skills in the sales department e, Human resources department: This room's purpose is as follows: - Responsible for planning, personnel policies, account pay and benefits, tarpaulin, and desert - Employee training, recruitment, and labor relations - Human resource development - Provide a pleasant working atmosphere for staff In addition to the aforementioned primary duties, the corporation routinely conducts training programs to develop skills, professional organizations, contests to promote current capacity and train new resources, and participation in promotions and charity’s, Information technology room: This department manages the information network in the company and links information with other Coca-Cola branches - Cooperation between departments: The company has a very strong system of cooperation among different departments in order to support the company's operation Collaboration across several sections of a firm is critical to improving revenues The manufacturing department and the marketing or sales department perform distinct duties but have a same aim Both divisions strive to improve sales and profits by offering things that clients want or desire Customer preferences can be aligned with the production process with the aid of marketing and sales support in the manufacturing department (Ebrd, 2021) + Marketing will be an essential aspect of every organization in the present advertising era The marketing department's role is to find market opportunities, segment the market, and position the market to have product, pricing, and distribution network plans Properly running policies and plans will be developed based on the results of a marketing department's actions Marketing will have a close relationship with all other departments, especially business: create programs to bring potential customers to Sales, link with Sales to get more market data on the right market goal, product + Accounting is an indispensable part of any business whether it is small or large Any department that works is related to cash flow and accounting is the part that controls the cash flow in the business This part is also a root person that determines the feasibility of the strategies outlined in the company + Human resource management is one of the most influential departments in creating corporate cultural values Good human resource management will contribute to promoting the productivity as well as the labour efficiency of individuals in the human resources department in particular and employees of the whole enterprise in general, creating a close link between departments in the company enterprise (ERP, 2018) Conclusion: In conclusion, Coca-Cola Viet Nam is a multinational corporation that has its base in Vietnam It is involved in the production and distribution of different types of beverages, the company provides a great example of an organization that demonstrates the interrelationship of various functions It is important to note that Coca-Cola Vietnam has a strong product portfolio with broad appeal It offers a broad portfolio of beverages including bottled water, juices, carbonated drinks, and soft drinks, with products for both adults and children The type and size of an organization determine the level of complexity involved with carrying out a function A large multinational company such as Coca-Cola will have greater scope and more complex functions than a smaller local business such as Fanta or Sprite Reference AJE Group n.d Our History - AJE Group [online] Available at: https://www.ajegroup.com/en/our-history/ AJE Group n.d Our mission, vision and values - AJE Group [online] Available at: https://www.ajegroup.com/en/our-mission-vision-and-values/ BLOOMENTHAL, A., 2020 Choose Well: The Risks of Establishing General Partnerships [online] Investopedia Available at: https://www.investopedia.com/terms/g/generalpartnership.asp Cocacolavietnam.com n.d Thương Hiệu [online] Available at: https://www.cocacolavietnam.com/thuong-hieu Ebrd, 2021 Các chức tiếp thị bán hàng phận sản xuất gì? - Thị TrườNg - 2021 [online] Ebrd businesslens Available at: https://vi.ebrdbusinesslens.com/59-info-8091992-functionsmarketing-sales-department-productionl-61635 ERP, S., 2018 Sự liên kết phận công ty | ABSoft ERP [online] Sự liên kết phận công ty | ABSoft ERP Available at: http://absofterp.vn/cam-nang-doanh-nghiep/su-line-ketcac-bo-phan-trong-cong-ty-n183.html Faceworks.vn 2021 Sự liên kết phận doanh nghiệp | Faceworks [online] Available at: https://faceworks.vn/chi-tiet/su-lien-ket-giua-cac-bo-phan-trong-doanh-nghiep/ HAYES, A., 2021 Limited Liability: What You Need to Know [online] Investopedia Available at: https://www.investopedia.com/terms/l/limitedliability.asp Kunz, M., 2019 Major Differences Between a Corporation and a Partnership [online] Small Business - 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Growth of business environment of Coca- Cola in Vietnam Analysis of competitors of Coca- Cola: A, PepsiCo: .9 B, Big Cola: Business functions of Coca- Cola. .. Growth of business environment of Coca- Cola in Vietnam Source: Vietnambiz According to Figure 2, In recent years, Coca- income Cola' s has consistently increased by trillions of dollars every year Coca- income... benefits Coca- Cola Vietnam, however there are certain limitations 1 Introduction to Coca- Cola Vietnam: Coca- Cola is the most popular soft drink brand in the world Produced by the Coca- Cola Company,