CHAPTER 2: CURRENT STATUS OF MARKETING STRATEGY OF THE
2.3 ANALASIS OF STRENGTH, WEAKNESS, OPPORTUNITIES, THREATS
2.3.2 Building strategy from SWOT matrix
SO1: Promote consumption in potential markets (S1, S4, O1, O2, O2, O4).
Currently the company is focusing on the North and North Central, Central and South are still open. Therefore, the company's products in these regions are not known much. Based on the distribution system, the company can develop and implement appropriate marketing policies to expand and gain more and more markets.
SO2: Make full use of production capacity to increase production efficiency and expand market. (S3, S5, O2, O4, O5).
With new invested machines and experienced human resources, technically trained, the company can produce high quality products in sufficient quantity to meet domestic demand and export target. Exporting to other countries will require strict requirements on quality and design. However, if has the right orientation, the company will have specific strategies, creating competitive advantage in the market.
SO3: Consolidate and maintain the traditional market (S1, S2, O3, O5).
Although the company has a long tradition in the market, but if it does not consolidate and plan the specific strategy, then the loss of these markets is sooner as people's incomes rise. The choice of good products is inevitable. The taste of consumers will also change. In addition, big corporations are struggling to win back the market, causing big competition.
SO4: Strategies for Export (S3, S5, O5).
Currently the domestic market share of the company is very small. the immediate goal is to focus on market share in the country first. This is the direction for the company
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with long-term goals. To achieve this goal, the company needs to invest in equipment and products that meet stringent quality requirements.
2.3.2.2 WO strategy
WO1: Build, strengthen and develop marketing department (W1, W2, O1, O2).
Currently, the marketing of the company has not been properly focused, so it is facing many difficulties. The financial strength is not strong enough, the information on competitors is limited, the marketing team is weak ... So to develop and expand the market, the company should pay more attention to the marketing team, create everything to make sure that this department develops properly with its function and mission.
WO2: Promote market research and development (W2, W3, O2, O4).
Due to the limited budget, investment in market research is still a difficult problem for the company. The penetration into the urban market and the big city is still open.
Therefore, the company should have the appropriate strategy to solve this problem. At that time, the company will be easy and convenient to implement its penetration strategies
2.3.2.3 ST strategy
ST1: Select key products to develop appropriate marketing strategies (S2, T1, T2, T3, T4).
Big corporations enter Vietnam, their goal is to dominate the domestic market.
Therefore, it is not easy to confront these corporations. Companies must be very careful when launching a certain marketing strategy. In addition, the market for detergents is almost saturated, so the retaking of market share from rivals also needs to have a strategy on key products to build marketing strategies to create competitive advantages in the market, as well as strengthen the current brand.
ST2: Research and development of new products, new models to compete in the domestic market and export (S3, S5, T1, T2, T3).
One of the most important factors of product distribution strategy in marketing is research and development of new products. Market demand is increasingly diversified, consumers' tastes change more and more positively. If the company only keeps the existing products to plan marketing strategy will not keep up with the times. It will lag behind the competitors over time. Therefore, the company needs a diversified product strategy, constantly developing new products to enter market.
2.3.2.4 WT Strategy
Limited production of non-competitive and high cost products (W4, W5, T1).
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Due to limited financial ability and most of the products on the market are own company brand, the company should be careful in producing and trading a product. Putting a product that does not create a competitive advantage in the market will lead not only to the failure of the product, but also to the company's reputation. Loss of competitiveness in the market, which will affect the marketing strategy for other products.
59 BUILDING STRATEGY FROM SWOT MATRIX
SWOT matrix Strengths (S)
1. Wide distribution system 2. long life brand
3. Experienced human resources 4. ISO 9001: 2000 Certification
5. Sources of supplies and capital are stable
Weakness (W)
1. Marketing is not focused
2. The ability to study the market and competitors is not good
3. Competitive position in big cities is not high 4. Risk of discrediting when having a problem with the product
5. Financial strength is not strong Opportunities (O)
1. Brand is more and more known
2. The potential market in the country is much 3. The trend "Vietnamese use Vietnamese goods"
is improving
4. Higher incomes of consumer 5. The Government encourages export.
SO Strategy
1. Promote consumption in potential markets (S1, S4, O1, O2, O2, O4)
2. Make full use of production capacity to increase production efficiency and expand the market. (S3, S5, O2, O4, O5)
3. Consolidate and maintain traditional markets (S1, S2, O3, O5)
4. Strategies for Export (S3, S5, O5)
WO Strategy
1. Build, strengthen and develop marketing department (W1, W2, O1, O2)
2. Promote market research and development (W2, W3, O2, O4)
Threats (T)
1. Large corporations have strong investment in marketing strategies to dominate the market.
2. The market is increasingly harsh as Vietnam joins the WTO and FTA
3. The market is increasingly saturated
4. Counterfeit and imitation brands, causing discredit.
ST strategy
1. Select the key product to develop appropriate marketing strategy (S2, T1, T2, T3, T4)
2. Research to create new products, new models to compete in the domestic market and export (S3, S5, T1, T2, T3)
Strategy WT
1. Limited production of non-competitive and high cost products (W4, W5, T1)
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