Vietnam’s Open Economy Boosts Dairy Industry: HTH True Milk’s Success Story
Vietnam Is gradually open the economy to well-come there of International trade, which create a great Incentive for any Industry, Including dairy Industry, to expand production, enhance competition and better benefit domestic as well as foreign consumers. Dairy products offered in Vietnam market today, for that reason, become various. HTH True milk, the young and potential producer in this industry, has been well-known as a domestic firm providing high-qualified dairy products with acceptable price.
In the band new economy background, HTH True milk also cope with ever competition, but still not only survive but also continuously get further step In dominating the domestic market. Fresh milk Is one of HTH group's strategy, and an outstanding example of HTH true milk's success in term of market share as well. To clarify culprits for HTH true milk's prosper and also work out some suggestion for its further development, our group has managed to make some analysis of overall market, business environment, brand, customers and competitor s as well as SOOT matrix applied for the company Itself.
The marketing plan Is composed of 5 mall parts: Firstly, in the part of current marketing situation , market situation, product review, competitive review, distribution situation would be clarified. Secondly, SOOT analysis indicates strengths, weaknesses, threats and opportunities to help company see through where they are standing in the dairy market and make decision to deal with: capitalizing on strengths, overcoming weaknesses, maximizing opportunities, and eliminating any threats or turning them Into opportunities.
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In the next part, objectives and Issues would be mentioned. _ After that, marketing strategy including signposting, product, pricing and promotion strategy plus distribution strategy will be discussed. And based on the company's strategies, the action program is established II. HTH True milk was established In 2009 with the financial advisor of the Bank of North Salsa commercial Joint stock.
The True milk enters the mature dairy market and face with many veteran competitors. Figure: Vietnamese dairy revenue from 2004-2009(unit: billion VEND) (Source: Hauberk securities' annual report) Vietnam dairy Industry has experienced a significantly growing trend In revenue urine the period 2004-2009 as the sales doubled to VEND 8,503 billion In 2009 as compared to the figure of VEND,084 billion in 2004.
This development attracted a lot of companies to invest in this potential market, forcing HTH true milk to involve in a great competition for survival. There are about 50 dairy companies in Vietnam, mostly small and medium sized companies. The biggest competitors are: Vanilla, Dutch Lady Vietnam, Nestle Vietnam, Nutrition, F & N Vietnam and Hangnails. However, the market Is very concentrated and 65% belong to 2 major manufacturers are Valhalla
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Vietnam’s Open Economy Boosts Dairy Industry: HTH True Milk’s Success Story. (2017, Nov 07). Retrieved from https://phdessay.com/thtruemilk/
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