MARKETING PRINCIPLES

INDIVIDUAL ASSIGNMENT
Analyzing marketing environment of

Full name: Hà Mai Phương

Class: HM1602

Student ID: HS153009

Lecturer: Bùi Thị Hạnh Thảo

Course: MKT101 – Marketing principles

Date: Spring2021

1
TABLE CONTENT 2

INTRODUCTION 3

ABOUT VINAMILK COMPANY

3
VISION AND MISSION OF VINAMILK
3
TARGET CUSTOMERS 4
PRODUCT 4
MICROENVIRONMENT 5
THE COMPANY 5
SUPPLIERS 7
MARKETING INTERMEDIARIES
8
COMPETITORS 8
PUBLICS 10
CUSTOMERS 10
MACROENVIRONMENT 11
DERMOGRAPHIC 11
ECONOMICS 12
NATURAL 13
TECHNOLOGICAL 14
POLITICAL AND SOCIAL
16

2
 CULTURAL
17

HOW VINAMILK CAN REACT TO THE MARKETING ENVIRONMENT 18

REFERENCE 19

INTRODUCTION
ABOUT VINAMILK COMPANY
Vietnam Dairy Products JSC (Vinamilk) is a Vietnam-based food
manufacturer. The Company is mainly engaged in manufacturing,
marketing, and distribution of dairy products, especially milk of various
forms and other derived products, as well as nutrition food and non-
alcoholic beverages. It also provides packaging and logistics services,
offers other technical supports to cultivation and breeding processes to
farmers, and operates a healthcare polyclinic. (Vietnam Dairy Products
Joint Stock Company, 2021) [1]
Vinamilk was established on August 20, 1976 on the basis of three dairy
factories from the old regime: Thong Nhat Dairy Factory (formerly
known as Foremost factory), Truong Tho Dairy Factory (formerly known
as Cosuvina factory), Dielac Powdered Milk Factory (formerly known as
Nestlé factory (Swiss). (Development history Vinamilk, 2021)[2]

VISION AND MISSION OF VINAMILK

Vinamilk said their vision was “to become a world grade brand in food
and beverage industry, where people put all their trust in nutrient and
health products.” (About us - Vinamilk, 2021)[3]
Vinamilk’s mission is “to deliver the valuable nutrition to community
with our respect, love and responsibility.” (About us - Vinamilk, 2021)
[3]
Mrs Mai Kieu Lien, Chief executive officer of Vinamilk said: “To
manufacture one of the leading products in the market, we must be
always innovative. Innovation is a vital element.”(About us - Vinamilk,
2021)[3]

3
TARGET CUSTOMERS
Although Vinamilk offers a wide product range, from for children to the
elder generation, the group of under 14-year-old is considered as the
target market for the company. At this moment, Vinamilk has a strong
position and distribution channels in all the big cities and urban areas.
However, the brand awareness in the rural areas is relatively weak,
therefore, this is one of the target groups for Vinamilk in the future.
(Vinamilk, 2016)[4]
PRODUCT

Vinamilk have more than 200

products, distributed to 30
countries and 18.000.000
products consume everyday.
Vinamilk's brands include:
Vinamilk organic nutrient,
Vinamilk liquid milk, Products
for youth, Vinamilk yogurt,
Powdered milk, Infant cereals
ridielac, Special nutrition
products for adults, Condensed
milk, Beverages, Ice cream,
Cheese, Roasted rice milk,
Soymilk, Ready to drink coffee.
(Vinamilk, 2021)[5]

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 This assignment will talk about three parts: Microenvironment,
Macroenvironment and discuss how companies can react to the
marketing environment.

MICROENVIRONMENT
Microenvironment consists of the actors close to the company that affect its
ability to serve its customers-the company, suppliers, marketing intermediaries,
customer markets, competitors, and public. (Philip Kotler & Gary Armstrong,
2012)[6]
THE COMPANY
is a Vietnam-based food manufacturer. (Vietnam Dairy Products Joint
Stock Company, 2021) [7]
Address at No. 10, Tan Trao street, Tan Phu ward, District 7, Ho Chi
Minh city. (Vinamilk Contact, 2021)[8]

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 Vietnam Dairy Products
JSC (Vinamilk) has 13
factories and 12 dairy farm
in the North, Central, and
South, 1 factory in
Cambodia, 1 factory in
USA. (VINAMILK JSC
Corporate Presentation,
2021)[11]

The leaders of Vietnam Dairy Products JSC (Vinamilk) are Mrs. Mai
Kieu Lien (Chief Executive Officer), Mr. Trinh Quoc Dung (Executive
Director – Dairy Development), Mrs. Nguyen Thi Thanh Hoa (Executive
Director – Supply Chain), Mrs. Bui Thi Huong (Executive Director -
Human Resources Administration & PR), Mr. Nguyen Quoc Khanh
(Executive Director – Research and Development), Mr. Le Thanh Liem
(Executive Director – Finance Cum Chief Accountant), Mr. Phan Minh
Tien (Executive Director – Marketing), Mr. Tran Minh Van (Executive
Director – Production), Mr. Mai Hoai Anh (Executive Director
International Sales cum. Managing Domestic Sales Department). (Our
leadership Vinamilk, 2021) [9]
Vinamilk has become one of the leading enterprises in Vietnam in all
aspects, greatly contributing to the development of the country and
people of Vietnam. With these outstanding achievements , the Company
has honorably received the noble titles. (Outstanding achievements
Vinamilk, 2021)[10]

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 (Outstandingachievements Vinamilk, 2021)[10]

In 2019, Vinamilk generated a total revenue of approximately 56.4 trillion

Vietnamese dong. Vietnam Dairy Products JSC is the largest dairy company in
Vietnam and is among the 10 most valuable brands in Vietnam. (Statista
Research Department, 2020)[12]

SUPPLIERS

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Currently, Vinamilk has contracted more than 8,000 farmers with 95,000
cows. This dairy processor collects the major share of milk produced in
Vietnam and is also a main importer of powdered milk. The supply chain
of Vinamilk consists of five activities, namely: input ingredients, raw
milk production, processing, distribution and consumption ( Figure 2)
(Luu Thi Thu Huong, 2016) [13]

The source of raw material is one of the important issues of the dairy
company but this activity is still the weakest one in the company’s supply
chain as it is now facing many difficulties. Vinamilk collects raw milk
from dairy farms, both from small farmers and from its in-house
industrial farms. (Luu Thi Thu Huong, 2016) [13]
By the end of March 2016, Vinamilk was operating 7 cow farms with a
combined herd of 15,000 cattle. Vinamilk’s cow herd, including the
owned farms and that of contracted farmers, now totals over 110,000
head and has the ability to supply nearly 600 tons of raw milk each day.
With the plan to develop new farms, the company intends to raise the
number of cows in their herd as well as from farmers to about 140,000
cows by 2017 and 180,000- 200,000 by 2020. This means that the

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planned volume of raw milk in 2020 will be doubled, equivalent to 1,000-
1,200 tons per day. (Luu Thi Thu Huong, 2016) [13]

MARKETING INTERMEDIARIES

Vinamilk has a strong and nationwide distribution network. The

traditional channel of Vinamilk totals 243 exclusive distributors, that
cover over 212,000 outlets in all cities and rural areas, which generated
about 80% of domestic revenue in 2015. The rest was from the modern
trade through direct deals with 1,609 small and big supermarkets, as well
as with 575 convenience stores across the country. The strong channel
development is partly attributable to its information technology tool ERP
which has helped switch the firm from wholesaler to retailer, manage its
inventory more precisely and improve its sales teams’ efficiency. The
firm is now trying to expand its channel to acquire more market share,
especially in rural areas and small urban areas. (Luu Thi Thu Huong,
2016) [13]

COMPETITORS

Vinamilk is at the forefront of the powdered milk segment with a market

share of 40.6% but has faced many difficulties as smaller competitors
such as Nutifood, Dutch Lady and TH true Milk, VitaDairy launched new
products. Specifically, despite following Vinamilk in the powdered milk
segment, thanks to its unique products, combined with the average price
10 - 15% lower than its competitors, NutiFood and VitaDairy are
gradually gaining good market share. powdered milk market. In addition,
international dairy firms such as Abbott, Friesland Campina, Mead
Johnson, Nestle and many other smaller dairy firms have good
competencies in marketing and product research and development.
Therefore, these enterprises are always a risk to compete with Vinamilk.
(Thị trường sữa Việt cạnh tranh ngày càng khốc liệt, 2020)[14]
In the last 4 years, net revenue of FrieslandCampina Ha Nam has always
reached over 3,000 billion dong, net profit is also around 200 billion dong
per year. In 2019, the net revenue of FrieslandCampina Ha Nam reached

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3,141 billion VND, net profit was 111 billion VND, down 4% and 35%
respectively compared to 2018. (Viet Times, 2020) [18]
Currently, Nestlé owns 6 factories in Vietnam, providing a range of
products mainly in the FMCG industry. In addition to Milo or NAN dairy
brands, Nestlé also provides other items such as confectionery, coffee, ice
cream, bottled water, ... By the end of 2019, the total assets of Nestlé
Vietnam reached 8,281 VND billion, down 6% compared to the
beginning of the year; equity increased 12% to 3,106 billion dong.
Updated on October 14, 2020, Nestlé Vietnam has a charter capital of
more than 1,260 billion VND.(Viet Times, 2020) [18]
After more than 8 years of product launch, TH Group has introduced to
the market more than 70 types of products on the basis of fresh milk. TH
Group had a spectacular breakthrough in growth. According to Nielsen's
urban retail market measurement data, in the first 11 months of 2018, TH
true MILK grew by nearly 22% in volume and 30% in revenue, in the
context of the whole industry. like no increase. In 2018, TH Group has
reached the milestone of more than 7,000 billion VND in revenue.
(TheLEADER VN, 2019) [19]

(YouNet Media, 2020)[43]

PUBLICS

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 Vinamilk created a strategy that would increase engagement and help
drive brand awareness among Vietnamese women, especially moms. The
brand decided to develop compelling, family-oriented video content using
the “hero, hub, and help” strategy, a new approach for Vietnamese
brands. To better engage Vietnamese women online, Vinamilk prioritized
investing and creating timely videos that captured trending pop culture
moments. To ensure initial lift and visibility, the content piece was
accompanied by a heavy media push using YouTube mastheads and
TrueView video ads. To keep audiences coming back for more, Vinamilk
developed recurring series such as its kids music video series and organic
farm series to help retain mom and child interest. Vinamilk also produced
content that provided parenting tips and tutorials — for example, a
cooking tutorial series — to ensure Vinamilk was present when
consumers needed information. (How tuning in to audience insights
helped Vietnam’s Vinamilk earn awareness and engagement, 2018)[15]

CUSTOMERS

By breaking up its market based on analysing demographic and

geographic variables, it can be seen that Vinamilk’s goal is to satisfy all
customers from kids to elder in any occupation. Especially, the group of
kids under 14-years-old is considered the target market that Vinamilk
wants to come forwards. In the present time, Vinamilk’s segment in rural
areas and small towns has been weak, thus, this segment will also become
the target market which Vinamilk want to focus more in the early future.
(Vinamilk Marketing Analysis, 2017) [16]

MACROENVIRONMENT

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The macroenvironment consists of the larger societal forces that affect the
microenvironment-demographic, economic, natural, technological, political,
and cultural forces (Philip Kotler & Gary Armstrong, 2012)[17]

DEMOGRAPHIC
Based on Worldometer elaboration of the latest United Nations data,The
current population of Vietnam (or Viet Nam) is 97,891,614 as of
Thursday, February 18, 2021. Vietnam's population is equivalent to
1.25% of the total world population. Vietnam ranks number 15 in the list
of countries (and dependencies) by population. (Vietnam Population
Worldometer, 2021) [20]. According to the census results in 2019, the
urban population is 33,122,548 people, accounting for 34.4% of the total
population of the country; rural population is 63,086,436 people,
accounting for 65.6%. (Quy mô dân số Việt Nam những phát hiện chính,
2020) [21]. At this moment, Vinamilk has a strong position and
distribution channels in all the big cities and urban areas. However, the
brand awareness in the rural areas is relatively weak, therefore, this is one
of the target groups for Vinamilk in the future. (Vinamilk, 2016)[22]. As
a populous country with a high population growth rate of 1.2% per year,
the dairy market in Vietnam has always been considered to have great
potential. Including the period 2010 - 2015, on average, each Vietnamese
consumes about 15 liters of milk / year. In the coming years, the dairy
industry still has great potential as demand is forecast to grow 9% / year,
reaching 27-28 liters of milk / person / year by 2020, nearly a half times
higher than the current level. (Invest Viet Nam, 2021) [23].

ECONOMIC

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 The development of Vietnam over the past 30 years is remarkable.
Political and economic reforms since 1986 have promoted economic
development, rapidly turning Vietnam from one of the poorest countries
in the world into a low-middle-
income country. From 2002 to
2018, GDP per capita increased
2.7 times, reaching over $ 2,700
in 2019, with more than 45
million people out of poverty.
The poverty rate fell sharply from
over 70% to below 6% (3.2
USD/day at purchasing power
parity). (The World Bank, 2020)
[24]. In just six years from 2008
to 2014, a Vietnamese person's monthly (Lao động VN,
expenditure more than doubled from VND
792,000 to nearly VND 1.9 million. Remarkably, out of spending,
Vietnamese people are spending more and more money for food, milk is
one of them. Of the nearly 1.9 million VND, each Vietnamese can spend
up to half on food and drink, a proportion that has improved significantly
compared to 2007. (Invest Viet Nam, 2021) [25].

NATURAL

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Vietnam is vulnerable to CC. It ranks the fifth in climate risk in the
Global Climate Risk Index for 2018 and eighth in the Long-Term Climate
Risk Index (David, Vera and Laura, 2017)[27] Recent manifestations of
CC in Vietnam include extreme weather events that are increasing in
number and unusually difficult to forecast. Peak monthly rainfall
increased from 270 mm in the period 1901-1930 to 281 mm (1991-2015)
while the highest average monthly temperature increased from 27.1°C
(1901-1930) to 27.5°C (1991-2015). (University of East Anglia, 2015)
[28] Having 3,260 km of coast line11, rising sea levels definitely create a
big impact on Vietnam. According to the Intergovernmental Panel on CC
(IPCC), if sea levels rise by 100cm, the potential land loss for Vietnam
would be 40,000 km2, account for 12.1% total area and 17.1 million
people will be exposed, accounting for 23.1% of population at the time
of report. (Vietnam's Government Portal, 2021)[29]

From 2018 to 2019, the PM2.5 dust concentration tends to increase more
than the period from 2010 to 2017. In the period from September to
December 2019, the Northern region had a number of episodes. air
pollution peak. Air quality indexes in some cities such as Hanoi and Ho
Chi Minh City have many times of bad with AQI index from 150 to 200,
sometimes exceeding 200, equivalent to a very bad level. (Ministry of
Natural Resources and Environment, 2020)[30]

In a joint effort to combat climate change and environmental pollution,

over the past nine years, the 1 million trees fund program for Vietnam
and Vinamilk have persistently planted hundreds of thousands of trees in
many localities across the country. In 2020, the 1 million green trees fund
for Vietnam will mark a 9-year milestone that the 1 million green trees
fund for Vietnam has gone and brought greenness throughout the country.
During the 9-year journey, the Fund went through 41 locations in 18
provinces and cities nationwide. Up to now, the Fund of 1 million trees
for Vietnam has planted 851,000 trees of all kinds with a total value of
about 11 billion VND. Green shields are formed and are contributing to
overcoming and limiting saline intrusion, drought, desertification ... due
to climate change, to protect the environment and people's lives. (Báo Tài
nguyên & Môi trường, 2020)[31]

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 (Báo Tài nguyên & Môi trường, 2020)[31]

TECHNOLOGICAL

The Vietnam Dairy Factory is equipped with modern fresh milk

production lines applied state-of-the-art production technology, operated
with completely closed process from raw material input to finished
product output.After tested for quality, raw milk will be weighed, filtered
and entered into a cold storage silo tank system ( 150 m3/ tank) After
cold storage, raw milk will be processed, i.e. centrifuged, homogenized,
pasteurized, cooled to 4 oC then transferred to tanks and ready for UHT
sterilization. Centrifugal separator helps to eliminate almost pathogens
and spores. State-of-the-art UHT sterilization systems can heat the milk
up to 140 oC and cold down to 25 oC quickly, helping to keep the natural
flavor, nutrients, vitamins and minerals of the product. Milk is pumped to
aseptic tanks before aseptic filling. The combination of advanced
processing technology, UHT Sterilization and aseptic filling helps the
product remain fresh taste during 6 months without any preservative.
LGV automatic robots move pallets of finished products to the smart
warehouse. Furthermore, LGV robots also transport packaging materials
to filling machines. They can recharge themselves without human
intervention. The warehouse is the leading smart warehouse in Vietnam

15
which has an area of 6000 m2 with 20 entrances and exits, width of 105
m, height of 35 m. It is designed with 17 stores, containing up to 27168
lots. Automatic import and export with 15 Rail guided vehicles (RGV)
transport pallets of finished product to the warehouse and then 8 stacker
cranes align them to the shelf system. ( Vinamilk, 2021)[32]
The activities related to studying ingredients composition, improvement
and standardization of testing methods are regularly implemented by the
Research and Development Center, Food Safety Assurance Department
and Production Department. Moreover, Vinamilk also coordinates with
the National Institute of Nutrition and testing centers to develop and
complete processes and methods for testing and controlling food safety
and hygiene. Vinamilk's laboratories meet the requirements of ISO / IEC
17025: 2005. In addition to the quality standards, Vinamilk also applies
other advanced management systems in the field of energy and
environment. (Vinamilk, 2021)[33]

POLITICAL AND SOCIAL

Vietnam has a stable political system, rarely occurs violence, territorial
disputes and human security indicators are improving day by day. (Việt
Nam an toàn vì chính trị ổn định, 2019)[34] Political stability is one of

16
the indispensable factors, contributing to Vietnam's ability to persevere in
economic development policies. Political stability gives Vietnam peace
and prosperity. (VOV VN, 2010)[35]. The Ministry of Health promulgates
the National Technical Regulation QCVN 5-1: 2017 / BYT for liquid
milk products. This Circular comes into force from March 1, 2018. This
Regulation specifies safety limits and regulatory requirements for liquid
milk products, including fresh milk (milk pasteurized / pasteurized whole
fresh, pasteurized / pasteurized whole fresh milk, pasteurized /
pasteurized fresh milk, pasteurized / pasteurized skim fresh milk),
pasteurized / pasteurized reconstituted milk, milk pasteurized /
pasteurized mixtures, condensed milk and sweetened condensed milk
(condensed milk, sweetened condensed milk, vegetable fat fortified skim
milk, condensed sugary condensed milk fortified with real fat object).
(Luật Việt Nam, 2017)[36] Notably, the government has also supported
Vinamilk directly. Politicians have approved Vinamilk’s Dairy
Processing Plant construction project in Cambodia (Astley, Dairy
Reporter, 2014)[37]. The School Milk Program to improve nutritional
status contributes to improving the stature of preschool and primary
school children approved by the Prime Minister in Decision No. 1340 /
QD-TTg dated July 8, 2016 (Ministry of Health, 2019)[38] Vinamilk has
pioneered and accompanied a number of provinces to implement the
School Milk program from the 2007-2008 school year with Ba Ria Vung
Tau province, followed by localities such as Bac Ninh, Ha. Male…
Thanks to good coordination in the organization, the participation rate of
many localities is at a high level, such as Hanoi implemented by
Vinamilk, has had more than 1 million kindergartners and primary school
students participating, reaching the rate of more than 91%, Binh Dinh
reaching 97% with 46,000 preschool children drinking milk. 100% of Ba
Ria - Vung Tau and 99.3% of Bac Ninh.(An ninh Thủ đô, 2020)[39]

CULTURAL
Vietnam is not a country with a tradition in milk. (Vietnam Union of
Science and Technology Associations, 2010)[40] But in just six years

17
 from 2008 to 2014, a Vietnamese person's monthly spending more than
doubled from VND 792,000 to nearly VND 1.9 million. Remarkably, out
of spending, Vietnamese people are spending more and more money for
food, milk is one of them. Of the nearly 1.9 million VND, each
Vietnamese can spend up to half on food and drink, a proportion that has
improved markedly compared to 2007. GDP growth rate is 6% -8%/ year,
per capita income increases 14.2%/ year, combined with the trend of
improving the health and stature of the Vietnamese people makes the
demand for Dairy products always keep a high growth rate. The average
milk consumption per capita of Vietnam in 2015 was about 23 liters/
person/ year, while in 2010 it reached 12 liters/ person/ year. (Invest
Vietnam, 2021)[41]. Vietnam's dairy industry in 2019 has relatively good
growth, especially liquid milk, yogurt and condensed milk. According to
statistics from the General Statistics Office, liquid milk production in
2019 will reach more than 1 million liters, an increase of 8.32%
compared to 2018. (Vietnam Industry Research and Consultancy, 2020)
[42]. The trend of dairy consumption of Vietnamese people is changing
significantly when choosing vegetable milk such as soy milk and barley
milk to replace cow's milk. (Báo Sài Gòn Giải Phóng, 2020)[44].
Launched trio of soy milk products combined with walnuts, almonds and
red beans have also received the attention of consumers because of their
delicious taste, easy to drink but also rich in nutrients. (Vietnam Industry
Research and Consultancy, 2020)[45] In addition to plant-based milk, the
market has also seen an increase in premium dairy products catering to
high-income earners. As a result, domestic firms have turned to meet the
growing demand for high-end products. Vinamilk launched a number of
high-end products such as organic fresh milk, organic formula milk, A2
milk and hired powdered milk production in Japan, then imported back to
Vietnam.(Báo Sài Gòn Giải Phóng, 2020)[44].

HOW VINAMILK CAN REACT TO THE

MARKETING ENVIRONMENT

“There are three kinds of companies: those who make things happen, those who
watch things happen, and those who wonder what’s happened.” (Philip Kotler

18
& Gary Armstrong, 2012)[46]. The way that Vinamilk reacts to the marketing
environment is reactive. 2019 was a year of constant fluctuations involving
political volatility, economic volatility and climate change that created
increasingly intense impacts on not only the economy and businesses but also
the life of each individual. As the future unfolds, the interactive cohesion
between businesses and the community becomes clearer, and the linkage
between a company’s management of risks and opportunities and its business
goals and operations gets closer. In line with that trend, throughout 2019,
Vinamilk’s risk management activities have been changed in many ways to
bring more of the cohesion and especially the initial integration of risk
management and sustainable development governance. Timely identify and
analyze changes in the context and market to respond appropriately by
developing and executing programs and projects to maintain and enhance
competitive advantages and market share. Key risks were all addressed by
implementing control measures to ensure the achievement of the Company’s
financial and operational goals in 2019. In terms of operations, Vinamilk also
established a risk portfolio under the Sustainable Development Program, from
which specific goals and indicators were included. (Vinamilk, 2019)[47]

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