Viettire’s Dilemma: the expansion

strategy in Myanmar
Sang Kim Tran and Le Ngoc Hoang Yen

1. Introduction Sang Kim Tran is based

at Phi Long Enterprise,
As for a market mechanism, what produces, how and for whom, is not the business’s Viet Nam and Center for
demand but the consumer’s demand. The business sells only what the market needs, not Predoctoral Training, Viet
what it has. In the period of increasingly competitive conditions, stabilizing and expanding Nam National University,
markets are a prerequisite for survival. If stability is seen as a “defensive” way, expansion Ho Chi Minh, Viet Nam
is a “defensive attack” like trying to hold on the “pie” that the market gives to itself. This Le Ngoc Hoang Yen is
strategic action is to strengthen regular, close relationships with existing customers and based at Takashimaya,
establish new customers. As a result, the potential market is transformed into a target Viet Nam.
market. Hence, decision-making of which market, which method is the issue that a leader
has to think the choice to avoid risks. At Viettire, the dilemma was raised since Mr Hung,
xo-owner suggested Myanmar should be taken into account as a company’s new entry,
exploring this potential market to increase company’s growth and profitability. In the
progress, Viettire’s marketing team had been doing a thorough tire market investigation in
Myanmar. It was concluded that this emerging country, especially Yangon City, was the
most suitable for those who were willing to embark on an overseas investment expansion.
They believe this was a good opportunity to gain the market share compared with other
entrants and competitive rivals; if Viettire hesitated to invest, others definitely had jumped
in with a first-mover advantage. We and Viettire, therefore, sat together and discussed to
address the situations for decision.
Accordingly, Mr Hoang has the ambition to develop Viettire to an upper level, expand the
business to neighboring countries, as it possesses the competitive advantage of having the
brand trademark license which can operate in these countries. And the information about
Myanmar openness has pushed him to take it into consideration. He said: “⬎It’s like a kid
look at a favorite toy in the supermarket, intent and wishful. I really want to jump directly to
Myanmar to get used to this good opportunity. Nonetheless, we have to find the way for
entering so that we won’t let this chance pass out and regret later on”. The Planning
manager said: “This is a great chance for us when we have now enough sources to expand
into a new market. It is really reasonable for us to be there”. In fact, reaching Myanmar is
next step in company globalization vision. Having opposed the idea, Mr Cuu, Financial
Manager raised: “This will take a big cost. This is so risky”. He thought the company needs
to measure the efficiency of the project. Mr Hoang kept calm and listened to others’ ideas. Disclaimer. (for all EEMCS
case studies): This case is
Ms Trang, Marketing Manager added: “He assigned my team to research this country to written solely for educational
find out the local custom and habit. We think that this will be a great potential market for us purposes and is not intended
to represent successful or
from now”. Mr Hoang was still considering and brainstorming to find a suitable path. unsuccessful managerial
decision making. The author/s
Another meeting was held a few days later so that Mr Hoang could meet the board of may have disguised names;
financial and other
directors to discuss this matter. “Today is an important day for our company. As you guys recognizable information to
already know about our goals in next year plan, I hope that we can develop our business protect confidentiality.

DOI 10.1108/EEMCS-05-2017-0092 VOL. 8 NO. 3 2018, pp. 1-29, © Emerald Publishing Limited, ISSN 2045-0621 EMERALD EMERGING MARKETS CASE STUDIES PAGE 1
 outside Vietnam. And I think Myanmar will be a good match for our extension. As I have
mentioned in the invited email, I hope that this meeting can bring us outstanding strategies
for the company’s development”. Mr Huy, Planning Manager said: “At this stage, due to the
very little knowledge about Myanmar market so I think that starting at the first basic step is
understand the market demand and customer responses”. “What do you think about
exporting strategy?” The meeting becomes exalted with this idea. While the Marketing
Manager stands up with her idea: “Agree about the issue of big cost, insufficient local
information, and risk we are considering about Myanmar market, but we should take a risk
and make a commitment. I think we should find out the trustable and potential trade so that
we can offer them to become our oversea dealer by licensing strategy. With this strategy,
later on, we still can open the representative office in Myanmar and develop it for the
long-term”. Mr Hoang and another manager again discuss this idea and they all feel very
excited about the expansion of many imagined picture in their mind. After a couple of
minutes, Mr Hung, Co-owner said: “Why don’t we directly open a store there. We can still
manage by ourselves and keep the opportunity with us”. They all start to raise the evidence
to protect their idea and develop it. The meeting was a great brainstorming session, but it
created headaches for Mr Hoang, as he was still reluctant on choosing a strategy for
entering Myanmar.
Myanmar is a big pie for investors and businessmen to open and develop their business
ideas. The market is very potential but risky when there are too many outsiders looking to
enter it. Expansion in this market will help Viettire reach a new level. However, the following
questions are raised: “Should Viettire enter the Myanmar market or not? and How?” In the
following sections, this paper shall clarify this issue with three options:

1. Option 1: Exporting, find local distributors and sell products directly to them.
2. Option 2: Licensing, look for a strong dealer who can satisfy Viettire’s standard and in
regards, both parties have same benefits.
3. Option 3: Wholly owned subsidiary, open a new business there.
If he applies one in three, then, how will he allocate resources to implement it. The rest parts
of this paper will analyze three possible options for this dilemma.

2. Company background
2.1 Company overview
Established in 1987 with the original name “THAI HUNG TIRE TRADING LTD. Co.”, Thai
Hung specialized in distributing domestic tire and other types of automotive spare parts at
that time. With longtime experience and reputation in the tire industry, on January 6, 2008,
the company name was officially changed to Viettire Joint Stock Company and called
“Viettire” under the management of ten members of a family, and is developing till now (see
Exhibits 1 and 2). With strong collaboration between these founders, at the moment, Viettire
has seven branches such as Toan An, Phu Loi, An Phu, Thai Hung, Thai An, Nhu Ngoc and
Song Toan located in Ho Chi Minh City and other provinces, 300 dealers around the
country, mostly in the south. The total staff is around 200 people. The headquarters is
located at 18 Ha Noi Highway, Binh Thang Commune, Di An District, Binh Duong, and the
main office is at 190 Bach Dang Street, Ward 24, Binh Thanh District, Ho Chi Minh City,
Vietnam.
Initially, Viettire clearly defined its vision and mission in accordance with the needs of its
stakeholders. In Viettire, there are seven main stakeholders; each has some certain
expectations from Viettire (Table I):
 Vision: “to be a top distributor for tires in Vietnam”. Not only provide high-quality
products, Viettire also wants to bring customers convenience from value-added
services that should be found in the Viettire distribution network. This prompted Viettire

PAGE 2 EMERALD EMERGING MARKETS CASE STUDIES VOL. 8 NO. 3 2018

Table I Main concerns of seven stakeholders
Stakeholders Type of stakeholder Major concerns

Board of management Internal Strengthening company position in the tire market

Creating high revenue and profitability
Expanding business to global
Employees Internal Good salaries & benefits
Promotion, career path
Dealers External Brand recognition
High quality of product
Good partnership policies
High turnover and commission
Customers, end users External Seeking for high quality of products and after sales services
Paying in affordable price
Suppliers External Cooperating with reliable distributors
Dealers meet its stringent criteria and standard
Dealers possess a strong financial commitment
Good understanding Vietnam market
Implement marketing programs in networks stores
Getting quality feedbacks from end users
Creditors External Prompt payment
Government External Abiding by law regulation
Paying taxes on time

to keep raising its chain store establishment, giving more strength and confidence to
reach the setting vision.
 Mission: “Let’s us save your cost”. Viettire understands how important saving cost is to
customers, especially in today’s fast-changing global environment. Viettire is proud of
its best after-sales services align with the best machines and equipment.
 Core value: Bring the best comfort value, satisfaction and trust to stakeholders. With
customers, Viettire commits to deliver high-quality products at a reasonable price.
Products in Viettire are top brand names having an obvious origin chosen carefully and
given a thorough warranty. The price of goods offered is fixed. With business partners,
in the spirit “with a tire, we are in one”, Viettire defines that Viettire and manufacturers
have the same benefits, same customers; thus, when cooperating with Viettire,
business partners will gain absolute satisfaction. With employees, Viettire tries to create
a good working environment for people to grow, give them opportunities for
demonstrating their capabilities to get promoted. With society, Viettire commits to
follow the legal regulation, meet society’s demand and fulfill its responsibilities.

2.2 Major goals

 create sustainable value for the brand;
 retain potential customers;
 explore new markets in Asian countries;
 develop relations of strategic cooperation with suppliers, and invest for the long-term
common interest under the motto “cooperation for development”;
 strive to find ways to accomplish and fulfill the plan in terms of revenue and profits;
 strengthen the company’s image; and
 maintain and enhance reputation.

2.3 General director in early days

During the sophomore years at Economic University of Ho Chi Minh City in 1995, Mr Hoang
started to help his father, Mr Son, run their family business (Thai Hung). At first, he worked

VOL. 8 NO. 3 2018 EMERALD EMERGING MARKETS CASE STUDIES PAGE 3

 part time as a salesperson in one of the company stores located at Ly Thai To Street, which
he was in charge of receiving and answering customer inquiries, taking customer orders
[. . .]. His actions showed his capabilities and skills in managing and problem-solving. He
did a great job by fulfilling his assigned tasks. Luckily, his father was realizing these traits.
He was very happy and satisfied with his son. During that period, Mr Hoang learned and
accumulated experiences from his father, other brothers, sisters and employees gradually,
which acted as a prerequisite for his future career. After graduation, with an excellent
bachelor’s degree with major in business administration, Mr Hoang officially worked full
time in the company as an assistant for the General Director (his father). Taking on the new
role, he seemed to be his father’s right hand working towards the aim of developing the
company. He worked with enthusiasm, commitment and applied what he had learned so far
in managing and making a strategy for the company to grow. In 2007, his father passed
away due to a serious illness. Then he took up the role of General Director. One year later,
Thai Hung name was changed to Viettire. Today, Viettire has gained a solid position in the
Vietnam tire market and prepared sufficient human as well as financial capital to spread
into a global market.

2.4 Organizational chart

At present, Viettire has five main departments under the monitor of the board of director.
They include Accounting & Finance, Technical & Logistic, Sales, Project and Marketing and
Administration Department. The Accounting & Finance Department, is responsible for
organizing financial and accounting affairs within the company including all branches. The
Technical & Logistic Department is involved with planning, managing and controlling the
flow of goods and services, from the point of origin to the point of destination. The main
trading business of the company is executed by the Sales Department that consists of
wholesale and retail chain stores department which obviously generate a good turnover for
the company. The Project and Marketing Department concentrates on conducting
marketing campaigns and market research. Lastly, the Administration Department is
considered the backbone of Viettire. It is the link between various departments and it
ensures the smooth flow of information across departments. Therefore, without the
Administration Department, Viettire would not run professionally and smoothly. Overall, this
organizational structure is simply reflecting the nature of Viettire core business.

2.5 Current business model

Developing with the catchy slogan “Let’s us save your cost” and with over 20-year
experience in tire distribution, Viettire understands the characteristic of each type of tire,
which is available on the market. Viettire now is an exclusive distributor for Maxxis brand in
the southeast area from Da Nang to Ca Mau. It provides a wide variety of products ranging
from passenger car tires, light truck and heavy truck tires, solid and pneumatic tires,
industrial and agriculture tires, OTR tires, all categories of tube and flaps, wheels for cars,
trucks, batteries, machines, equipment and tools used in tire industry [. . .], in which truck
tire holds nearly 70 per cent of the total sales. Company revenue reached more than
US$50m in 2014.
Besides tire products, Viettire also offers customer services in wheeling alignment, wheel
balance, car polish and nitrogen inflation. Especially, there are some service packages
which only Viettire has such as cost package help company save more money in
maintenance, causing reacquiring, a 24/24 tire salvage hotline via a number (⫹84) 08 22
06 06 06. In addition, Viettire is always willing to support dealers in opening a new stores
(Viettire, 2016).
Viettire’s distribution channel ranges from wholesale to retail which consists of customers
including original equipment manufacturers (Thaco, Mercedes-Benz [. . .]), wholesales
dealers in Level 1, Level 2 [. . .] and end users. Besides, there are numerous huge

PAGE 4 EMERALD EMERGING MARKETS CASE STUDIES VOL. 8 NO. 3 2018

consumers in transportation, cement and urban environmental companies. It is proven that
Viettire offers products in a wide variety of network that serve all customer demands
(Figures 1 and 2).

2.6 Viettire–Maxxis business partnership

Maxxis is now the biggest tire manufacturer with the widest range of products in the Far
East and ranks the ninth among the world’s largest tire companies. It obtained ISO
certification in 1993. It implemented a comprehensive knowledge tire technology with high
quality and a reasonable price. With their motto “quality is our standard, we have
continuously convincing relationships with our customers through our quality, price and a
great selection of products based on their trusts in our traditions and development”
(Maxxis, 2014). Maxxis is in highly using accepted by passenger manufacturers in Vietnam
such as Toyota, Mazda, Kia, Honda, Ford, Audi, BMW, Mercedes Benz and truck firms like
Thaco, Hyundai, Hino, Dong Feng, Foton, Isuzu, Freightliner and Mitsubishi motors [. . .].
There are not many manufacturers worldwide who boast of such a broad range of products.
Maxxis supplies at the moment only dealers, and Viettire belongs to one of its distribution.
Before being a Maxxis dealer, Viettire was a distributor of more than ten brands. The
turnover was around US$15-17m When distributing truck tires of Maxxis, Viettire phased
other brands out and only focused on Maxxis tires. Now, the Viettire’s total revenue
increased 2.5 times compared with before in the same number of stores and employees.
Maxxis’ competitors are Bridgestone, Michelin, DRC, Casumina and over 100 Chinese
brands in which TBR of the Chinese brands occupied 50 per cent, Bridgestone 18 per cent,
Maxxis 18 per cent, Michelin 4 per cent, DRC 3.1 per cent and others 6.9 per cent of the
total market share. In 2012, Bridgestone occupied a market share of 27 per cent. However,
Chinese tire brands and Maxxis increased their market shares rapidly in 2013. Viettire
wanted to gain the market share from multinational companies like Bridgestone, Michelin

Figure 1 Viettire’s distributor

Figure 2 Viettire’s distributor

VOL. 8 NO. 3 2018 EMERALD EMERGING MARKETS CASE STUDIES PAGE 5

 and Chinese brands, keeping the market position against local competitors such as DRC,
Casumina, etc. Collaborating with Maxxis from 2011, Viettire now had a predominant lead
in the tire market, especially in truck tire segmentation and had a desire of expanding its
channel distribution not only in the area of Vietnam but also through other neighbor
countries, and Myanmar is the first global venture (Viettire, 2016).

2.7 Tire industry history

2.7.1 In Vietnam. With a population of around 91 million in 2014, Vietnam is one of the
developing economies in Asia-Pacific and has emerged as a major market for automotive
tires over the past five years. After joining WTO and AFTA on January 2007 and TPP
recently, the government has removed some regulatory barriers to attracting foreign
investment. Additionally, the GDP per capita and motorization rate have been rising,
helping the country’s vehicle to expand tremendously (the GDP is US$176bn and GDP per
capita is US$1,960 in 2013). Considering the growing demand for vehicles and vast rubber
resources, many domestic and global players started establishing manufacturing plants in
Vietnam. All these factors have been fueling automotive tire markets in Vietnam. According
to a global market research company, the Vietnamese tire market will top US$2.7bn in
revenue by 2020 on account of these favorable conditions.
The tire consumptions by the truck and bus sector in Vietnam are also increasing every
year. Specifically, TBR was about 560,000 pcs and TBB was 840,000 pcs per annum
(statistic in 2014). Vietnam mostly imports automobile tires from countries such as Thailand,
Indonesia, China and Japan. These countries cumulatively accounted for around 72 per
cent of the total tire imports in Vietnam. Meanwhile, tires produced in Vietnam are shipped
to countries like the USA, Malaysia, Saudi Arabia, Brazil, among others. At present, a few
of the foreign giant tire makers are operating in Vietnam are Yokohama, Bridgestone,
Kumho, Maxxis, Pirelli and Michelin, and the local companies are DRC, Casumina [. . .], in
which Southern Vietnam comprising prominent urban centers like Ho Chi Minh City, Can
Tho and Bien Hoa contribute toward more than 40 per cent of the total tire sales in the
country.
Although the business environment has been more open to individuals and enterprises to
do business, the most profitable and critical industries are still on the government radar, as
it is a source of potential large tax and revenue from exporting. With the low-standard road
surface condition in Vietnam, with most of the vehicles being overloaded around 2-3 times
of its loading standard. From April 1, 2014, the government began to control the
overloading. It means vehicles are not allowed to overload. This has seriously affected tire
businesses in Vietnam, resulting in reducing monthly sales revenue and Viettire is not an
exception.
2.7.2 In Myanmar. Myanmar is an emerging country with a population of 53.3 million in
2013, in which 43 per cent of the population is between the ages of 25 and 54, creating a
labor force of 23 million people. Yangon is the most densely populated urban area. This is
a new untapped market that presented a huge potential to foreign investors. It has attracted
many FDI inflows in recent years, so duty-free and quota-free market access has been
applied. Following the ease of cars imports in 2012, Myanmar’s automotive aftermarket is
undergoing an impressive growth phase, and the number of vehicles grew sharply,
registering a 58 per cent growth rate between 2012 and 2013. This sector is expected to
grow at 7.8 per cent through 2019, driven by an emerging economy, expanding
infrastructure and rising income levels (Lazarova, 2015). The majority of passenger and
commercial cars are second-hand, creating higher demand for spare parts and after-sales
services. However, Myanmar end-users remain price-sensitive and often choose cheaper
Chinese spare parts. Price is the number-one criteria for purchase. In addition, as the road
conditions in Myanmar are poor (21 per cent paved and 79 per cent unpaved in 2013)
which wear out tires faster, car owners usually replace tires every three years instead of the

PAGE 6 EMERALD EMERGING MARKETS CASE STUDIES VOL. 8 NO. 3 2018

recommended replacement of every five to six years. Another indicator of the health of the
tire market is the fact that vehicle ownership levels are growing rapidly, having transitioned
from two-wheeler vehicles – which currently make up 80 per cent of the market – and
second-hand passenger cars – which constitute 95 per cent of the segment – to brand new
four-wheel automobiles – showing that there is still room for the tire industry in the short and
long runs. Economic reforms bring an impressive economic performance with greatly rising
commodity exports, growing tourism and rapid credit growth. The economy is projected to
grow at an average 7.8 per cent in the coming years. On the contrary, this country still has
so many drawbacks. Specifically, its political situation is unstable; its democratic process
is on-going and the Constitution remains to be amended. Myanmar is an extremely corrupt
state, ranked 180 out of 183 countries and has a shortage of transparency in administration.
With the regulatory uncertainty and weak legal make investors cautious about investing in
Myanmar and protect their investment (Falzon, 2016). The limited human capital and tech
expertise restrict Myanmar’s capabilities to manufacture cars and tires in large scales.
Regulatory Japanese tires currently make up the largest proportion (27 per cent) of the
passenger and commercial vehicles market. Yokohama at 14 per cent and Bridgestone at
13 per cent have established one or several tire factories in Thailand. Thus, tires imported
from Thailand (36.5 per cent) dominated the Myanmar market. In addition, Thailand is the
preferred import partner owing to geographical proximity. Tire imports from China make up
14.5 per cent of the market owing to low prices and channel access. Myanmar’s vehicle
market consists mainly of a used car, the demand for automotive spare parts and
after-sales service will surely continue to increase (Investinmyanmar, 2009; Commission,
1990).
In recent years, the trade relations between Vietnam and Myanmar have grown at a
relatively high rate, especially in 2013 and 2014 with 54.7 per cent and 36.7 per cent,
respectively. However, since 2015, trade between two countries has declined significantly,
going down to 58.3 per cent compared with 2014. However, Myanmar is still considered a
potential market in the future since the Asian Economic Community forms (expected by the
end of 2015). Vu Cuong, Deputy Head of Northeast Asia, Asia-Pacific Market Department
(Ministry of Industry and Trade), said that in the first nine months of 2016, Vietnam had 13
export products to Myanmar, the largest turnover is transported means and spare parts,
followed by machinery, equipment, tools and spare parts, products from iron and steel
[. . .].
Another advantage is that trading promotion activities have been organized regularly by the
Ministry of Industry and Commerce. Vietnam is one of the countries organizing the earliest
these activities in Myanmar. With the advantage of taking the lead in approaching Myanmar
businesses and consumers earlier, the maintenance and expansion of trading promotion
activities in this market will continue to help businesses penetrate and expand their
markets, Cuong said. However, difficulties in exporting to this market are not less.
According to Cuong’s analysis, with large production scale, investment in market research
and strong trading promotion activities, the rivals have great advantages to dominate the
market. In addition, the disadvantage is with regard to long transit times and high
transportation costs. Currently, the average time of shipping by sea from Vietnam to
Myanmar takes about two weeks. Along with high transportation costs, Myanmar’s customs
and quarantine procedures are slow. Thereon, finding a niche market, focusing on
Myanmar’s strengths, is advisable for businesses who want to expand their market.
According to the Asia-Pacific Market Department, nine groups of enterprises can invest in
the coming time, including: motorcycles, bicycles; small truck; machinery, equipment, tools
and spare parts; iron and steel and steel products; chemical products; candy and cereal
products; clinker and cement; plastic and plastic products; and textiles. For these reasons,
Viettire believes that Myanmar is a right market for their developing plan (Yen, 2015; Anh,
2016).

VOL. 8 NO. 3 2018 EMERALD EMERGING MARKETS CASE STUDIES PAGE 7

 3. Methodology
3.1 Synopsis
It is believed that Viettire is one of the top tire distributors in the Vietnam market (Maxxisana,
2014). Over 20 years, Viettire has been building its reputation. With experience and
prestige in the tire market and beyond professional staff in skill and working style, now the
company is ready for global expansion. Nevertheless, the CEO in charge of
strategy-making is facing a dilemma on how to enter this new market. Based on the current
situation of the company, the case will give three strategic options seem to be the most
suitable ways for Viettire:

1. Option 1: Exporting, find local distributors and sell products directly to them.
2. Option 2: Licensing, look for a strong dealer who can satisfy Viettire’s standard and in
regards, both parties have same benefits.
3. Option 3: Wholly owned subsidiary, open a new business there.
If he applies one in three, then, how will he allocate resources to implement? The rest of this
paper will analyze and discuss three possible options for this dilemma. The
recommendation will provide a solid framework for the decision-makers of the company to
follow in order to get success.

3.2. Methodology
To address the aims, a case study was undertaken based on a dilemma of Viettire. Since
then, we have used various types of models such as Porter’s five forces, S.W.O.T analysis
competitive advantage to analyze the primary data to find and propose a suitable strategic
decision-making for this emerging market. We worked closely with the Finance Department
to collect primary data. To exploit maximum information for the study, some other methods
and techniques have been used as follows.
Interviews: We conducted an interview with Mr Hoang, CEO, to understand the company’s
situation and to clarify the dilemma with Mr Cuu, CFO, and Mr Mori Yang, Director of Maxxis
representative office in Vietnam, to get their opinions on choosing criteria for each option.
Observation: One of the team members of our group is now working for this organization.
She is responsible for marketing development and has a chance to go to Myanmar for
researching information on this project. Therefore, she knows the progress well (Trading,
2004; Caillaud, 2016).
We collected and searched information from various sources such as Viettire company
profile, Viettire website, the internet, textbooks and its chapters in Essential Strategic
Management (Hill and Jones, 2012).
We used online Skype chat, email and Viber to discuss with the CEO, Chairman, etc. (as
it is really necessary) and relevant staffs during our consultant. We constructed a mind map
to brainstorm our next course for this consulting to minimize the effect.

4. Results
4.1 Porter’s five forces analysis
Porter’s five forces Model is another tool used to analyze the external factors affecting the
tire industry (Hill and Jones, 2012). First, the intensity of rivalry among established firms is
low because car spare parts are mostly small distributors and retail shops. There is only
one Japan Tire Services Company Limited that provides sales support for Bridgestone tires
in Myanmar, and no leading automobile manufacturer except Suzuki, Toyota and Mitsubishi
has set up or appointed authorized agents to provide service centers and supply original
spare parts directly. Second, bargaining power of suppliers is low, as suppliers are

PAGE 8 EMERALD EMERGING MARKETS CASE STUDIES VOL. 8 NO. 3 2018

manufacturers that have a massive production of a variety of tires so they really want a
distributor like Viettire to buy large quantities in every order. In addition, with a strong
finance capital and a solid position, suppliers want to collaborate with Viettire in a long run.
Third, the bargaining power of buyers is medium because the supplier is strong and
provides high-quality and affordable goods while a majority of end users in Myanmar are
knowledgeable about the price. Fourth, the risk of entry by potential competitors is medium
as they enter this industry; they need a huge financial support and large-scale integration
because a tire is an international product which aggressively competes in price. Finally, the
threat of substitutes is low bargaining power of buyers is medium because a supplier is
strong and provides high-quality and affordable goods while a majority of end users in
Myanmar are knowledgeable about the price. It is hard to substitute for the tire and there
is still some products but the cost is really high and the normal buyer cannot afford. (see
Table II for a summary).

4.2 Competitive advantages

Based on the resources we have summarized and researched from the case, we figure out
that Viettire has four main competitive advantages compared with other competitors (Hill
and Jones, 2012) (see Table III):

1. Efficiency: Viettire has been a Maxxis’ strategic partnership for a long time and is an
exclusive distributor in Vietnam of this 9th largest tire manufacturing company, from
2011. This generates many core advantages for Viettire. It has full control of
consumption and delivery of Maxxis tire for the whole country except in the north. More
specially, Maxxis has offered a chance to Viettire to become their exclusive distributor
in Myanmar which other rivals hardly gain. The annually increasing revenue is a good
evidence of the customer loyalty, with a turnover of more than US$50m in the previous
year. It is proved how Viettire operates effectively.
2. Quality: Maxxis is already well-known and highly regarded by the public. Providing a
larger variety of products and always monitoring the quality of the products and
services. Viettire has been known by many Vietnamese customers with a high
reputation chain store as a result of this consequence. In every aspect of a business,

Table II Viettire’s five forces analysis result

Five forces Analysis

Intensity of rivalry among established firms (⫺) Low. Most current distributors for car spare parts were very small retail shops
Bargaining power of suppliers (⫺) Low. Suppliers wanted to collaborate with Viettire since they could meet their
criteria
Bargaining power of buyers (⫺) Medium. The supplier was strong at high quality and affordable price while
customers were price sensitive
Risk of entry by potential competitors (⫹) Medium. New entrants needed strong financial capital and large-scale integration
Threat of substitutes (⫺) Low. It was very hard to substitute for tire products

Table III Viettire’s competitive advantage analysis result

Competitive advantage Analysis

Efficiency in operation and long-term strategy The exclusive distributor for Maxxis in Vietnam
Having trademarks license for entering Myanmar market
Turnover keeps increasing (see Appendix 3)
Innovation in serving customer need Vary and unique service
High quality Premium quality and suitable products
Align with customer demand
Global brand name recognition
Customer responsiveness Loyal customer
Trustworthy brand name

VOL. 8 NO. 3 2018 EMERALD EMERGING MARKETS CASE STUDIES PAGE 9

 both Maxxis and Viettire set a goal of “only the best is acceptable”. Delivering quality
products and service is the responsibility of every Maxxis and Viettire employee.
3. Innovation: Viettire provides the best service to bring customers satisfaction such as
providing services in wheeling alignment, wheel balance, car polish and nitrogen
inflation, cost maintenance package, casing reacquiring, and being available at the
24/24 tire salvage hotline. Viettire knows that the best can always be better. Hence,
they encourage creativity among employees. They are always open to ideas and new
solutions with the aim of bringing continuous improvement to customers.
4. Customer responsiveness: Maxxis is known by those who buy its products, as well as
the fans that have come to know the Maxxis trademarks through the many riders and
events sponsored by Maxxis in a variety of motorsports. They trust in Maxxis products
because of satisfaction.
5. After conducting a macroeconomic analysis, Viettire came up with each strategic option:

4.3 Option 1 analysis: Exporting (Table IV)

 What? With this option, we plan to focus on selling product to the detailed seller or
direct customer with a suitable quantity.
 When? Right away! Whenever we receive the contract, we can directly transfer goods
to the customer address with a legal document and tax duty.
 Where? From Viettire’s warehouse in Vietnam to Myanmar customer.
 Whom? We will sell to the retail sellers and customers in Myanmar who have a demand
to use the Maxxis tire.
 How? By renting an advertising agency to do a marketing campaign for Viettire
distributor from Vietnam. When customers have a demand, they can send us the
request by emailing, calling, etc. We will analyze the contract and give suitable
feedback. If it is agreed by both side, we make a contract, send the goods to them and
receive the money.
From the above analysis, the pros for exporting strategy are avoiding the costs of
establishing manufacturing operations in the host country. In addition, Viettire may be able
to realize substantial scale economies from its global sales volume and increase sales
profits. However, the company will lose in monitoring quality control of product and
services. Taking time to the start-up procedures and decisions involved in exporting.

4.4 Option 2 analysis: Licensing (Table V)

 What: With this option, we plan to look for the right tire company in Myanmar with whom
to enter into license agreements for the further commercialization under Viettire name.
To be considered, the company must meet certain criteria and standards with respect

Table IV Viettire’s S.W.O.T analysis result (Option 1)

Strengths
Low operation cost (8/10)
Pioneering in tire export to new market (6/10)
Favorable access to distribution networks (8/10)
Realized economy of scale based on sales volume (6/10)
Opportunities
Increasing sales and profits (8/10)
Lower the target for Viettire in Vietnam (7/10)
Weaknesses
Poor reputation among customers (3/10)
Lacking quality control (2/10)
Threats
Differences in language, currency, and business practice (4/10)
Taking time in securing payment from customers (4/10)
Issues arising when dealing with regulators, banks, insurers and
carriers and registering (3/10)
Easily kick out the intensive market (1/10)

PAGE 10 EMERALD EMERGING MARKETS CASE STUDIES VOL. 8 NO. 3 2018

Table V Viettire’s S.W.O.T analysis result (Option 2)
Strengths Weaknesses
Good branding in international recognized (9/10) Take time to find partner and establish relationship (4/10)
High control in product quality and service (8/10) Lower profit than exporting (3/10)
Realized economy of scale based on sales volume (7)
Opportunities Threats
Exploring new customers in new market (8/10) Misunderstanding (3/10)
Potential for long-term (8/10) Stay aware of legal law of cooperation (4/10)

to the quality of its products, its ability to market those products and the fit of its
products with Viettire. The company must also be able and willing to make a financial
commitment that includes an advance payment of an annual minimum guaranteed
royalty and periodic royalty payments based on a percentage of sales. The company
must also carry general liability and other appropriate insurance with respect to its
business operations and activities.
 Where: Maxxis products will be delivered from Viettire’s warehouse in Binh Duong,
Vietnam.
 When: After the agreement between Viettire and the other Myanmar side is signed.
 Whom: We will sell in bulk directly to the dealer.
 How: Do a market research to understand the market and find a suitable dealer.
The advantage of this option is exploring new customers and giving the brand to the new
market and make customer recognize this brand name gradually. Viettire can monitor the
quality of products and services that are delivered to the end users. In this way, Viettire can
get customers’ feedback in order to improve its offering. In addition, it can help Viettire
realize the economy of scale based on sales volume. The most important factor is that this
is potential for company long-term strategy if setting up a new company here in the future.
Taking time to find a partner, establishing a relationship and lowering of profits are its
disadvantages.

4.5 Option 3 analysis: Wholly owned subsidiary (Table VI)

 What? Open a new business with 100 per cent investment from the parent company.
 When? After we build a company in Myanmar.
 Where? Viettire’s subsidiary and warehouse in Myanmar.
 Whom? To all type of customers: wholesalers, dealers, end-user customers.
 How? We import products from Vietnam and store in Myanmar to supply customers’
needs. And we have to build all distribution channel systems in Myanmar same as in
Vietnam.

Table VI Viettire’s S.W.O.T analysis result (Option 3)

Strengths
Control quality directly serving customers (9/10)
Receive directly customers’ feedbacks (8/10)
Expand to new customers (8/10)
Opportunities
Increase image brand among customers (9/10)
Increasing sales and profits (8/10)
Small distributors and retail shops to supply original
spare parts (tire) directly. (8/10)
Weaknesses
Infrastructure building cost.(3/10)
Expensive operation fee.(2/10)
Take time for building (3/10)
Threat
Compete with strong dealers (3/10)

VOL. 8 NO. 3 2018 EMERALD EMERGING MARKETS CASE STUDIES PAGE 11

 The pros of this option are being able to control quality from customers’ responsiveness, to
improve quality to meet their demand and increase brand name recognition. However, it
takes lots of cost and time in building a company as well as operating activities and
competing with other competitors also.
To identify the suitable criteria for comparing, we gave interviews among Viettire’s
stakeholder to find out the subject we have to focus on. With the same question “What
should be considered when Viettire tries to expand business in Myanmar?” We have
received various answers from interviewees.
We started a small talk with Mr Hoang, CEO of Viettire. He was very pleased to share with
us in findings of these criteria. He said: “In my point of view, the expansion should be based
on the vision we have planned for the expansion. In this case, we think it’s the branding
development. We aim to increase the brand recognition in Myanmar customer’s mind so
that when they think about a tire, they will remember Viettire store is one of the best places
can satisfy their requirements. The next element is the cost. We mean both time and money.
In this case, money is not our worry but the time. According to the analysis, we have
prepared enough finance capital for expanding until now. But what we need to concern
now is the time. We have to push the process as short as we can because the opportunity
will not come twice and we do not want this chance to be missed out. The next part, we
should analyze the customer satisfaction, which means how quickly we can respond to
customer requests. This element is a major point in the project because a successful
business is the one who based on customer needs and satisfies them at a high level. And
once we lose it, the business has to face depression and collapse. The last one is how risk
the solution is, can we maintain this solution for long term or just for increasing the sales
result. When all the things combined together, I think of a suitable requirement table for
decision making”. The order ideas have been summarized, as below:
 branding;
 time consumption;
 customer satisfaction;
 risk; and
 expense.
Also to this question, we asked Mr Cuu, Financial Manager and get different answers and
priority order:
 Cash flow: He wanted to lower cost but to a more efficient investment amount so that
the parent company will not suffer from a cash shortage.
 Branding: He wanted an option that matches company vision.
 Risk: As usual, lower the risk is, more safety the business will be.
 Time: Time in both applying the project and how long they can return the investment.
 Management: How well they can control the overseas business.
Mr Mori Yang, Director of Maxxis representative office in Vietnam, has responded to our
questions as follows:
 Branding: Both Viettire and Maxxis branding because he wanted distributor’s image to
grow in parallel with Maxxis products and to compete with other rivals like Michelin and
Bridgestone.
 Quantity: Number of product sold for short and long terms. It really is a lot of trouble
when you build a nice store but cannot sell products.
 Time: How they can apply the strategy as well as return the investment?

PAGE 12 EMERALD EMERGING MARKETS CASE STUDIES VOL. 8 NO. 3 2018

 Expense: How much will they cost you? It should be an acceptable and planned
amount for a new business like in Myanmar.
 Risk: They should consider the external environment and unexpected issues.
After gathering the information as well as the result, we have made the final choice based
on the answer from stakeholders. The first one is Branding – How well Viettire brand name
can be advertised and developed in Myanmar market. This is very important due to the
vision Viettire has defined for the Myanmar market: “Develop Viettire brand in order to
satisfy customer’s need in Myanmar with the premium quality of product and service”. The
premium quality will be important in differentiating between the Viettire Company and a
local store. The strategy which has advantages in this field will have a bigger chance to
choose because this element is chosen by most of the stakeholder at the top part
contributed to the success of the expansion. The second major subject is the expense of
the expanding. It has to be a good supportive source for the company’s long-term
development plan. The cost will be divided into two parts: expense and time consumption.
Time is a critical reason to decide which strategy to apply for the company because if you
spend too much time to build your plan, the opportunity can pass out of your hand. The next
one is customer satisfaction. This is how well Vietire can satisfy a customer’s needs. With
good customer relationship, Viettire can easily create a suitable campaign based on the
real market need. The following factor is the controllable/management, which focuses on
how well Viettire can manage the store and control in the future. The last one is the risk of
a new type of business. We have to consider the legal law and regulation of Myanmar and
the risk of being kicked out the industry if Viettire chooses a wrong strategy. With this
evaluation method, three options are summarized in Figures 3 to 5.

5. Conclusion
Basing on the charts we have drawn above and the criteria collected from the stakeholder,
we analyzed the following:
In the Branding factor: From the criteria asked from the stakeholder, this one is the most
important in the expansion campaign because developing the Viettire brand is the vision of
the CEO of the company for Myanmar market individually. He wants as many customers as
possible to know and acquaint themselves with Maxxis, the exclusive distributor. In this
field, we can recognize that the best results are Option 2 (Licensing) and Option 3 (Wholly
owning) when they can bring Viettire brand directly to the Myanmar market and customer.
Exporting is the smallest one and this is its weakness because it just plays a supplier role
in this field which supplies Maxxis product for detail seller in Myanmar.

Figure 3 Exporting statistic

VOL. 8 NO. 3 2018 EMERALD EMERGING MARKETS CASE STUDIES PAGE 13

 Figure 4 Licensing statistic

Figure 5 Wholly owning

About the Expense: We can see that Exporting will have the smallest cost because it does
not need a big operation cost. It just requires an amount of advertising fee, while the other
two required the investment of more revenue for training (Licensing) and an even larger
operation costs (Wholly owning). In this field, Option 1 (Exporting) will grant the biggest
advantages for choosing.
In the Customer Satisfaction factor: Similar to the Branding factor, in this field, Licensing
and Wholly owning will have a big advantage because they can decorate and design their
store to match with customer need and import as well as control directly the operation
process. Exporting is the worst because they just export from the parent company without
any management of the goods flow in Myanmar.
In the Controllable/Management factor: We have to agree that if we want to develop the
brand, store and future plan, we have to have the right to manage and control how it should
be. Therefore, this is a critical reason to decide which option we should choose. Exporting
takes the lowest score owing to its lack of brand management. Licensing is very good in
this field when they achieve 8/10 points. However, the best one belongs to Wholly owning
when they get 9 points for their brand management.
In Low Risk: It means that when you run a business, is there any risk from the government
or industry or local company to harm you and your company. With a stable balance and use
of partner knowledge about the market and law, Licensing takes the first prize in this case.
Next is the Wholly owning and the last is Exporting. Although Exporting is less documentary

PAGE 14 EMERALD EMERGING MARKETS CASE STUDIES VOL. 8 NO. 3 2018

requirement but it is not stable, which is easy to be kicked out when there is a supplier
which offer a lower price than you.
The last one, Quick: How quick they can apply or run their business. Of course, the
Exporting is the best in this case when it can be immediately used by Viettire to export the
tire to a seller. Need more time but also keep the quick in their business plan is the
Licensing. And the last one is Wholly Owning because of their building and long plan
preparing.
Therefore, exporting has 29 points, licensing has 44 points and wholly owning has 36
points. The most suitable strategy, in this case, is Option 2 (Licensing). Furthermore, we
can see that this strategy has a high score in the important field which matches with the
vision and mission the company has planned for this expansion such as branding,
customer satisfaction, time, etc. The results indicated that Myanmar’s business
environment is highly risky for foreign investors owing to uncertain political, economic,
social reforms in the process. In addition, internal analysis of Viettire indicated the strengths
and weakness faced in the new market. In comparison with vision, mission and main
stakeholders’ needs, the company decided to choose Option 2 – Licensing, which satisfied
all five criteria of stakeholders’ needs. They are branding, expense and time, customer
satisfaction, controllable/management and low-risk factor. With potential growth and more
market share, Licensing strategy is strongly recommended to implement for expansion to
Myanmar. However, the company had to take into considerations further action plans that
were the critical factors and decide success or failure in other markets (Table VII). It was
necessary to take the test in the whole market demand for company’s products and
services. After that, the company could choose the adequate system to adapt market trend
and attain sustainable growth.

6. Recommendations
As the recommendation on company’s entering strategy is option 2 (licensing), and the new
emerging economy with political, economic and social reform on the process, that makes
doing business in Myanmar so uncertainty and unpredictable circumstances so the
emergent strategy which implies that an organization is learning what works in practice, is
suitable approach (Hill and Jones, 2012; Kotabe and Helsen, 2010; Luthans and Doh,
2009). In addition, at Viettire, there are various ideas among leaders and senior staffs.
Hence, Viettire should take into account human resource management. In so far, there were
many mixed opinions relevant to the theme of “one person government official, all their

Table VII Viettire’s action plan suggestion

Plan Action

Step 1: Find a suitable partner Establish a research team combined company’s staffs and consultants from Myanmar who are
knowledgeable in this industry to search for a potential partner who satisfies all requirements and
is willing to cooperate with the company in mutual benefit and equally share risk. Then the
contract between both sides will be signed
Step 2: Transfer technology and After that, this partner will follow strictly the process and design from Viettire. That means Viettire
design assigns an expert to teach this partner all the technology and design exactly from the parent
company to build the initial image’s identity on customers
Step 3: Testing This is due to the fact that Myanmar market is new for our company, a quality team from Vietnam
should be appointed testing the customers’ responsiveness for 6 months for our products and
services which is useful to make a change or enhance our system to match customers’ need
Step 4: Improve quality Based on the results of testing, Viettire will deliberate with a partner what action to take to tackle
the drawbacks and improve what we are good at. To implement this step, Viettire will send the
experts which are full-trained skills and many experiences to make a better improvement with
regard to market’s demand and competing to rivals
Step 5: Expand After all above steps have been done, Viettire will ensure the adequate system to apply in
Myanmar market. That makes Viettire easily access new market and gain market share later on. If
the appropriate system is applied, potential growth of the company is so huge

VOL. 8 NO. 3 2018 EMERALD EMERGING MARKETS CASE STUDIES PAGE 15


Keywords:
Competitive strategy,
B2B marketing,
Distribution management,
Business development,
Boards of directors/senior
management
PAGE 16 EMERALD EMERGING MARKETS CASE STUDIES
relative are concerned”. Many questions were posed, whether the same family or with
relatives to be worked at the state administrative agency or not? According to
baophapluat.vn, it was not be ban and enough standard candidates may apply to recruit,
appoint, and transfer following the process. Enterprise was the same situation.
In our opinion, the company mentioned above must consider some factors and make a
change. Firstly, it needs looking back the General Director’s power given. Before making a
major strategic decision, the General Director should share, listen and get feedback. Of
course, it has been mentioned in Chapter 1, page 17, of Essential Strategic Management
(Hill and Jones, 2012), that “one important way in which top leaders can make better use
of their knowledge and information is to understand and manage their emotions during the
course of decision making” to help them avoid rejection. Secondly, recruiting procedure
and its standards must go with quality. Emotional intelligent testing may help the company
find talented candidates. Besides, the company should use KPIs (Key Performance
Indicators) or BSC (Balanced Scorecard) by Robert S. Kaplan and David Norton,
respectively, to refine the best one. Human resource is one of the best property of the
company, and hence, if the company has more talent, it can maintain its competitive
advantages (Kaplan and Norton, 1996).
Looking back at Viettire’s dilemmas in decision-making, which option should be used and
the different viewpoints through the case, we would recommend Viettire focuses on
creating a high-performance organization based on the B.C.G theory and on marketing
research to overcome these troubles and help the Management board reduce stresses
they were in making a decision. According to McKinsey Global Survey results (Guthridge
et al., 2008), the company gets lots of advice as to how to make good decisions. Which
decision-making disciplines really make a difference?” Therefore, we think Viettire should
apply this theory to the system:
 Pay particular attention to the risks of the project, examined through a detailed financial
model and sensitivity analysis, and the relationship of those risks with the risks of other
projects in the firm’s portfolio. Learning from past comparable situations also is
beneficial.
 Ensure that participants in the discussion about any decision are included on the basis
of skills and experience, that decision criterion is transparent and that the decision is
discussed in relation to the organization’s other strategic decisions.
 Put organizational goals ahead of business unit goals, and encourage efforts to build
consensus across business units.
B.C.G (Boston Consulting Group) (Hill and Jones, 2012; Bhalla et al., 2011) proved that HR
is a strategic partner and an enabler of business. In leading organizations, people strategy
is as prominent as a business strategy. The HR function has successfully translated
business strategy into people objectives and enabled business priorities through people
initiative. To perform these varied roles and become a strategic partner, Viettire’s HR
Department may need to adjust the capabilities of their HR function to be able to provide
line managers with analytics and advice. For examples: P&G, Unilever, Samsung Vina,
SCG and eSilicon Vietnam are famous high-performance organizations which made a
differentiation. Besides, to reach the goal, Viettire must consider enterprise marketing
which is related to market orientation, in the sense of meeting customers’ demand. The
American Marketing Association defines enterprise marketing as an “organizational
function and a set of processes for creating, communicating and delivering value to
customers and for managing customer relationships in ways that benefit the organization
and its stakeholders” (Kotler and Keller, 2006). Viettire should refer to the interactions and
actions of a firm pursuing new market opportunities in order to add value to customer that
may satisfy its needs and achieve company goals.
VOL. 8 NO. 3 2018
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 Exhibit 1

PAGE 18 EMERALD EMERGING MARKETS CASE STUDIES VOL. 8 NO. 3 2018

Exhibit 2

VOL. 8 NO. 3 2018 EMERALD EMERGING MARKETS CASE STUDIES PAGE 19

PAGE 20 EMERALD EMERGING MARKETS CASE STUDIES VOL. 8 NO. 3 2018
About the authors
Sang Tran Kim starting job as a customer service clerk in 2006, She was quickly promoted
to Executive Assistant, Manager, Vice President of Bolt Institute; concurrently, acting as
CEO for Cao Viet. Currently, she is a CEO, running her family business. Her background
includes MSc in Leadership from Northeastern University, Boston; BSc in Veterinary
Science and BA in English, Vietnam. Sang Tran Kim is the corresponding author and can
be contacted at: kimsang.msl@gmail.com
Thanks to the working experience with so many talented leaders, Yen, Le got lots of
experience in Business Management. She loves to share her ideas and dilemma she
encountered in her daily life to everyone, given that “sharing is caring. Her background
includes MSc in Leadership from Northeastern University, Boston, and BA in English,
Vietnam.

VOL. 8 NO. 3 2018 EMERALD EMERGING MARKETS CASE STUDIES PAGE 21