FINAL REPORT

TOPIC:

THE SALE PLAN OF VINAMILK

Semester : 2233
Lecturer : Phan Minh Tuan
Group 2:
1. 22011600 – Nguyễn Đức Bình
2. 22003428 – Nguyễn Việt Đức
3. 22010105 – Nguyễn Thị Bích Liên
4. 22012278 – Nguyễn Thị Hải Linh
5. 22001588 – Nguyễn Thị Tuyết Nhi
6. 2194153 – Nguyễn Bá Thuật

TPHCM – 06/2023
 FINAL REPORT

TOPIC:

THE SALE PLAN OF VINAMILK

Semester : 2233
Lecturer : Phan Minh Tuan
Group 2:
1. 22011600 – Nguyễn Đức Bình
2. 22003428 – Nguyễn Việt Đức
3. 22010105 – Nguyễn Thị Bích Liên
4. 22012278 – Nguyễn Thị Hải Linh
5. 22001588 – Nguyễn Thị Tuyết Nhi
6. 2194153 – Nguyễn Bá Thuật

TPHCM – 06/2023

ASSIGNMENT TABLE

Name ID Completion
Nguyễn Đức Bình 22011600 100%
Nguyễn Việt Đức 22003428 100%

1
Nguyễn Thị Bích Liên 22010105 100%
Nguyễn Thị Hải Linh 22012278 100%
Nguyễn Thị Tuyết Nhi 22001588 100%
Nguyễn Bá Thuật 2194153 50%

RECOMMENDATIONS OF LECTURER

2
 ACKNOWLEDGMENTS
Our team would like to thank lecturer Phan Minh Tuan for accompanying the sales
management class in general and our group in particular. He has accompanied us for

3
15 weeks with effective and interesting lectures. Thanks to his interesting teaching
methods, our class has learned a lot of useful and practical knowledge.

In addition, we are also very grateful to Hoa Sen University for building a very
suitable learning path for Marketing students with the necessary background
knowledge for the future.

TABLE OF CONTENT
ASSIGNMENT TABLE........................................................................................................2

RECOMMENDATIONS OF LECTURER...........................................................................3

ACKNOWLEDGMENTS......................................................................................................4

4
LIST OF FIGURES................................................................................................................6

LIST OF TABLES.................................................................................................................7

INTRODUCTION..................................................................................................................8

MAIN CONTENT..................................................................................................................9

1. COMPANY OVERVIEW..............................................................................................9

1.1 General introduction.................................................................................................9

1.2 History of formation and development...................................................................10

1.3 Product of Vinamilk................................................................................................11

1.4 SWOT Analysis......................................................................................................25

2. ANALYSIS OF BUSINESS ENVIRONMENT..........................................................25

2.1 Macro Environment (PEST)...................................................................................25

2.2 Micro Environment.................................................................................................28

3. BUSINESS ACTIVITIES............................................................................................31

3.1 Business strategy.....................................................................................................31

3.2 Supply chain & distribution....................................................................................34

3.3 Revenue...................................................................................................................40

4. BUIDING A SALES PLAN.........................................................................................43

4.1 Build sales goals.....................................................................................................44

4.2 Sales excution:........................................................................................................55

4.3 Supporting marketing activities..............................................................................59

CONCLUSION....................................................................................................................71

REFERENCES.....................................................................................................................72

LIST OF FIGURES
Figure 1: Vinamilk Company.....................................................................................9
Figure 2: History of establishment and development of Vinamilk...........................10

5
Figure 3: Vinamilk's supply chain model..................Error! Bookmark not defined.
Figure 4: Sustainable integrated value chain............................................................36
Figure 5: Vinamilk's factory in Vietnam..................................................................37
Figure 6: Warehouse & Logistics.............................................................................38
Figure 7: Vinamilk's distribution network................................................................39
Figure 8: Milk consumption of Asian countries in 2020..........................................45
Figure 9: Milk consumption growth.........................................................................47
Figure 10: Revenue in the first quarter of 2023........................................................51
Figure 11: Business results in the first quarter of 2022 and 2023.............................52
Figure 12: Total revenue of Vinamilk from 2010 to 2023........................................53
Figure 13: Revenue structure of Vietnam dairy market............................................54
Figure 14: Vinamilk's Gia Mo sua Viet store chain..................................................58
Figure 15: Vinamilk's facebook fan page.................................................................62
Figure 16: Poster of the product................................................................................64

6
 LIST OF TABLES
Table 1: Product of Vinamilk...................................................................................11
Table 2: Swot Analysis.............................................................................................25
Table 3: Swot Analysis of nut milk market...............................................................60
Table 4: Campaign roadmap....................................................................................64
Table 5: Total budget for sales plan.........................................................................68

7
 INTRODUCTION
We all know that sales management is an important and fascinating subject in the
business field. This course provides us with the knowledge, skills and tools needed to
understand and execute the sales process effectively.

In fact, sales management plays an important role in the growth and success of a
business. It is directly related to generating sales, acquiring and retaining customers,
and building lasting relationships with customers.

In this course, we'll explore the fundamental aspects of sales management, including
the sales process, market analysis, formulating a sales strategy, communication and
negotiation skills, management customer relations and many other aspects.

We will learn from experienced instructors in the field who have successfully built
and run successful sales campaigns.

Not only theoretical knowledge, we will also have the opportunity to practice through
exercises and practical cases. This helps us put what we have learned into practice
and develop practical skills in the sales process.

At the end of the course, the groups will do a report on planning a sales strategy for a
business they have chosen and then present the report in weeks 14 and 15.

8
 MAIN CONTENT

1. COMPANY OVERVIEW

1.1 General introduction

Figure 1: Vinamilk Company (vinamilk.com, 2021)

Vietnam Dairy Products Joint Stock Company, also known as Vinamilk for short, is a
company producing and trading dairy products. Is a leading company in the dairy
processing industry and currently holds 75% of the dairy market share in Vietnam.
Strength is in domestic distribution with a network of 183 agents and nearly 94,000
sales points covering 64 provinces and cities, Vinamilk's products and exported to
many countries such as: the United States, France, Canada, Poland, Germany, and
China. East,... United States. Middle East, Southeast Asia... After more than 30 years
of launching to consumers, Vinamilk has built 8 factories, 1 factory and 3 new
9
factories under construction, with a diversified product portfolio, Vinamilk currently
has more than 200 products such as pasteurized milk, pasteurized milk and dairy
products.
Vinamilk is the leading dairy producer in Vietnam in terms of revenue and output. In
2021, Vinamilk marks 45 years of development, becoming the only Southeast Asian
brand to enter many global rankings. This is the result of the strategy and
determination to bring the Vietnamese dairy brand to a higher position on the map of
the world dairy industry. Vinamilk's product portfolio includes: main products are
liquid milk and powdered milk; value-added products such as condensed milk, eating
and drinking yogurt, ice cream and cheese. Vinamilk offers the widest range of
products, flavors and packaging in the market.

1.2 History of formation and development

Figure 2: History of establishment and development of Vinamilk (vinamilk.com, 2021)

In 1976, when newly established, Vietnam Dairy Products Company (Vinamilk) was
named Southern Coffee and Milk Company, under the General Department of Food. In
1982, the name was changed to Dairy-Coffee-Confectionery Enterprise I. In 1992, it

10
officially changed its name to Vietnam Dairy Products Company (Vinamilk). In 1994,
Vietnam Dairy Products Company (Vinamilk) built another dairy factory in Hanoi to
expand the northern market, bringing the total number of factories under its control to
4 factories. The construction of the factory is part of the strategy of expanding,
developing and meeting the needs of the North Vietnamese market. 1996: Established
Binh Dinh Dairy Joint Venture with Quy Nhon Frozen Joint Stock Company.
2003: The company was transformed into Vietnam Dairy Products Joint Stock
Company. Since then, the company has acquired Vietnam Dairy Products Company
and Saigon Dairy Products Joint Stock Company, the registered capital increased to
VND 1.5 trillion.

1.3 Product of Vinamilk

Table 1: Product of Vinamilk

Category Brand name Product name Products image

11
Fresh milk - Vinamilk - Pure natural
and Green fresh milk.
Nutrition Farm The first fresh
milk milk in the
world to
achieve clean
label
certification
from the US.
(with sugar,
very little
sugar.)
- Vinamilk
Organic - The first 100%
Organic
pasteurized
fresh milk in
Vietnam to be
certified with
European
organic
standards.
- Pasteurized
Vinamilk - Vinamilk fresh
fresh milk milk contains
contains bird's nest and
Bird's pure fresh
Nest. milk, a
premium
health gift for
the whole

12
 family.

- Vinamilk - 100%
100% pasteurized
pasteurized fresh milk
fresh milk increases
resistance
(sugar, low
sugar, no
sugar)

- Vinamilk - Vinamilk
ADM ADM
Nutritional nutritional
Milk milk helps
children
develop brain,
height and
increase
resistance.

- Vinamilk - Vinamilk 3

milk bag healthy milk

bag: Healthy
stomach,
healthy eyes,
healthy bones.
Rich in
nutrients, large
capacity and
extremely

13
 reasonable
price.

- Flex - Pasteurized
Pasteurized milk rich in
Milk. calcium, low
in fat to
prevent
osteoporosis
Milk for - Optimum - High-class
pregnant Mama nutritional
mothers Gold products,
and babies helping to
enhance the
health of the
digestive
system &
resistance for
mothers,

- Dielac - Nutritional
Mama milk for
Gold mother and
fetus to help
mother healthy
and smart
baby.

- Provide a full
- Dielac range of
Alpha essential

14
 nutrients to
support brain
development,
help gain
weight, height
and increase
resistance,
comprehensive
development
of the baby.

- All-round
- Dielac development
Alpha and reasonable
Gold price, mother-
child
development
in the long
run.

- Specially
- Dielac designed to
Grow support
children's
height
development.

- Help children
- Dielac gain weight,
Grow Plus grow taller,
(blue grow healthy.

15
 - Strengthen the
- Dielac immune
Grow Plus system, help
Colostrum the baby gain
weight after 3
months.

- For
- Dielac malnourished
Grow Plus and stunted
has Bird's children,
Nest helping
children to
increase
absorption,
increase height
and keep up
growth
momentum.

- Helps to
- Vinamilk balance the
ColosGold intestinal
microflora,
strengthen the
immune
system of
children.

- Helps

16
 - YokoGold strengthen
immunity and
brain
development.

- Support the
- Optimum digestive
Gold system and
resistance,
help gain
healthy
weight,
develop height
and brain

- Nutrients are
- Pedia imported from
Kenji Japan, along
with beneficial
bacteria to
help children
digest healthy,
grow taller,
gain weight
after 3 months.
Products - Sure - Enhance
for the Prevent overall health.
elderly Gold

- Sure - Help control

Diecerna blood sugar

17
 for people
with diabetes.

- Canxi Pro - Helps to keep

joints flexible,
strong bones,
flexible body.

- Vinamilk - Helps provide

Nutrition the energy
needed every
day for the
whole family.

- Kenko - The secret of

Haru healthy living
of the
Japanese.
Helps boost
immune
system health,
improve
nutritional
status and
support health
promotion.
Weaning - Ridielac - Wide variety
food Gold of sweet and
weaning savory flavors.
powder Supplementing
with 1 billion

18
 beneficial
bacteria and
other nutrients
to help your
baby easily
digest, absorb
an abundant
source of
nutrients and
develop
physically
during the
baby's eating
period mile.

- Optimum - With natural

Gold fermentation
Weaning technology
Powder combined with
calcium to
help
strengthen
bones (with
sugar, less
sugar, no
sugar).
Yogurt - Delicious - With natural
and fermentation
healthy technology
yogurt combined with
calcium to

19
 help
strengthen
bones. (with
sugar, less
sugar, no
sugar)

- Premium - Combined
Vinamilk with high-
yogurt quality
ingredients:
crispy pearls,
chewy
nuggets,
fragrant sticky
rice, new
flavors, more
delicious when
enjoying
yogurt.

- Fruit - Yogurt eaten

yogurt and in combination
aloe vera with crunchy
aloe vera jelly,
or delicious
sweet and sour
fruits. Reveal
youthful,
vibrant skin.

20
Drinking - Probi - Supplement
yogurt and Drinking billions of
fruit milk Yogurt beneficial
bacteria,
increase
resistance, do
not worry
about minor
illnesses in
children,
support the
digestive tract.

- The
- SuSu
breakthrough
dringking
formula helps
Yogurt
your baby's
eyes to be
bright,
energetic and
healthy.

- Yomilk - New Yomilk

Pasteurized with fresh fruit

Drinking flavors

Yogurt blended with

naturally
fermented
yogurt brings
new flavors.

21
 - Hero fruit - Rich in
milk nutrients from
milk and juice
with calcium
& vitamin
nutrients to
help build
strong bones,
bright eyes,
full of energy
and refreshing.
Condensed - Ong Tho - With
milk condensed nutritional
milk ingredients
- rich in protein,
rich sweet
taste, golden
consistency.

- Special - This is the

Creamer most chosen
Southern sweetened
Star condensed
- milk and also
the secret to a
good cup of
milk coffee.

- Condensed
- Creamer
creamer with
Tài Lộc
sugar helps

22
 smoothies,
fruit, yogurt, ..
have a sweet,
aromatic
flavor
Plant milk - Milk with - Made from 9
9 nuts types of high-
SuperNut quality nuts
- that are good
for the brain,
body and skin.

- Fresh soy - A unique

milk with combination
nuts of non-GMO
soybeans with
nuts such as
red beans,
walnuts, and
almonds with
twice as much
calcium,
helping to
strengthen
bones, giving
adults more
flexibility and
freshness all
day.

23
Beverage - Vfresh - The choice of
juice reliable
beverage to
help take care
of health every
day in every
meal of the
Vietnamese
family.
Ice-cream - Ice Cream - 6 delicious ice
Kid cream flavors
enjoy the cool
ice cream
taste.

- Vinamilk - 12 flavors of
ice cream Vinamilk ice
box cream are
suitable when
used with
friends and
family,
creating a
lively
atmosphere
when enjoying
together.

- Twin
- Using
Cows
ingredients
Premium
selected from
Ice Cream
24
 leading
suppliers, rich
in fat from
pure fresh
milk gives you
a cool and
passionate
feeling.

Sugar - Vietsugar - New premium

refined sugar,
with 3 no
standards: no
GMOs, no
additives, no
preservatives.

Cheese - Vinamilk - Help your

cheese baby grow
healthy, rich in
calcium and
energy to grow
taller.

1.4 SWOT Analysis

Table 2: Swot Analysis

S (Strength) W (Weakness)
- Famous and long-standing brand - Unable to control the source of
in Vietnam. raw materials
25
 - Effective Marketing Strategy
- Wide distribution network
- High-tech application
O (Opportunity)
- Government support
- Large number of potential
customers.
- The demand for milk of
Vietnamese people is increasing.
- Customers have a need to
consume healthy products.
- The market share of powdered
milk is not high.
T (Threat)
- Many competitors
- The source of raw materials
is not stable
- Vietnamese customers tend
to prefer imported milk

2. ANALYSIS OF BUSINESS ENVIRONMENT

2.1 Macro Environment (PEST)

2.1.1 Political

The stable political and legal situation in Vietnam has led to economic development,
creating jobs, increasing incomes for workers and increasing consumption demand of
the society. It has a positive impact on the formulation and implementation of
strategies of Vietnamese companies in general and dairy companies in particular, and
also has a significant impact on market expansion and foreign investment attraction,
improve income, access to advanced technology, modern production lines, improve
labor productivity... of dairy enterprises. However, it also creates competition
problems with similar products from foreign companies importing into Vietnam.
Currently, Vietnam still has to import more than 70% of raw milk powder for
production because the water supply is not enough to meet demand and the input
import tax is lower than the norm of Vietnam according to the 'WTO'. '.
In the process of economic integration in the region and the world, the National
Assembly has promulgated and continues to improve the law. A stable political
institution and clear rule of law are the basis for businesses to have favorable and
equal opportunities to compete effectively and strongly. In addition, the state's
incentive policy is also very good for the company. The State encourages farmers to

26
raise and process dairy cows and facilitate the supply of raw materials for businesses
in this field. Encourage people to use milk to improve body and mind.

2.1.2 Economy

The market depends on the economic environment. Economic related factors include
economic growth rate, inflation rate, income structure and growth rate, change in the
way people spend, economic infrastructure directly related to the transport system,
postal and other service industries
Vietnam's per capita income in November 2020 is estimated at millions of dong,
equivalent to 2,750 USD. This is an increase of nearly 35.6 USD compared to 2019.
However, it is lower than the increase of about 144 USD in 2019, an increase of nearly
500,000 billion VND compared to 2018. In addition to increasing purchasing power in
the market, the trend Increasing average income in the population also makes
consumers have different needs and wants. Quality, variety and ease of use may be
factors where they demand more or are willing to spend a higher amount.
The country's consumer price index (CPI) in July 2020 increased by 0.4% compared to
June 2020, decreased by 0.17% compared to December 2019 and increased by 3.39%
over the same period last year, according to data published by the General Statistics
Office. Most dairy prices were stable as inflation remained low, allowing customers to
buy more and businesses to ramp up production.
Economic infrastructure affects the purchasing power of the market. If poor
infrastructure increases the cost of production and product consumption, the product
will cost more, reducing its competitiveness in the market. When promotion and
distribution services become slow in the market due to infrastructure impacts, it will be
difficult to access products or slow to access company products.

27
2.1.3 Social

Sweets, canned products and dairy-related products are all consumed in Vietnam.
Increasingly, the demand for health care and physical satisfaction is increasing due to
the increasing ease of access to information, such as through telephones, computers,
radios, newspapers and magazines. television. Vinamilk's advertising emphasizes on
creating a healthy lifestyle, comprehensive physical and intellectual development,
dynamic and creative individuals, an effective role model of course.
One characteristic of Vietnamese people is that they rarely change and often use what
they believe in. Vinamilk Company can attract loyal customers by creating trust in
quality reputation.
With the development of society, the demand for nutrition and high quality according
to human needs is increasingly necessary. Milk is a quick solution but still ensures the
quality of nutrition for working and studying age, especially most children today are
often fed with powdered milk. This is an opportunity to help the dairy industry have
more new products to increase business scale and distribution in the market.

2.1.4 Technological

Although this is a factor that brings many opportunities, it also contains many
challenges that companies need to carefully learn how to build their marketing
strategy. It is one of the inputs to the production process and is an important factor
determining whether the production activities of an enterprise are effective or not. As a
result, it affects marketing efforts and how the dairy industry uses technology to drive
product consumption in the marketplace. The modernization of technology has opened
up many new opportunities for the dairy industry in the production of new products to
build brands. The dairy industry has taken advantage of many new advances in
machinery and equipment to produce products that are superior in both quality and
design.
Currently, milk has a pasteurized fresh milk production line with modern equipment
and advanced production technology, fully meeting international standards. This

28
factory operates under a closed automation line from input materials to product
outputs.
Thanks to the combination of factors: Advanced processing technology, UHT
sterilization technology and aseptic filling technology keep the fresh taste for 6 months
without preservatives.
Example of using robots in production: LGV robot automatically transports finished
pallets to the smart warehouse area. In addition, LGV automatically transports packing
rolls and packing materials to the machine. LGV robot system can automatically
charge without human intervention
Based on the automation solution Tetra Plant Master, this operating system enables the
connection and integration of the entire plant, from input materials to the final product.
This allows the factory to manage all activities taking place within the plant and to
continuously monitor and control quality. The Tetra Plant Master System provides all
the data needed to help plants continuously improve their production and maintenance
processes.

2.2 Micro Environment

2.2.1 Customer

Two markets are Vinamilk's main customers: the consumer market, where people and
households buy goods and services; and agency markets, where supermarkets and
dealers buy goods and services to resell at a profit.
Consumer market: More and more people are interested in health and better aware of
nutritional products. As a result, demand for plant-based milk substitutes (soy, walnut,
almond milk, etc.) and yogurt, premium liquid milk with organic A2 has increased
while demand for whole milk has increased reduce.
Dealer market: Consumer behavior can be influenced by retail outlets, such as
supermarkets, nutrition centers, etc. Domestic dairy companies and exclusive agents of
foreign firms compete for strategic distribution points, mainly through discounts and

29
reseller commissions. This allows them to gain significant power over their
competitors, as they can influence consumers' purchasing decisions.

2.2.2 Top main competitors

Currently there are more than 238 dairy companies in Vietnam, with 85% of the
market share belonging to five companies: Vinamilk, Nestle, Nutifood,
Frieslandcampina and TH True Milk. This causes serious competition in terms of
product categories and advertising strategies.
These companies all have good advertising and research and product development
capabilities, in addition to strong competitors such as Dutch Lady, TH true Milk and
Nutifood. In addition, Vinamilk also has Nestle, Abbott USA, International Dairy
Products Joint Stock Company (IDP), Frieslandcampina and Mead Johnson.
Therefore, competition with Vinamilk is always a threat.
Powdered milk is currently the most competitive product between domestic and
imported products. Currently, Vinamilk leads the market with 40.6% (in 2019),
followed by Abbott with 17% and Frieslandcampina with 12%.
In the past three years, the market share of Abbott and Frieslandcampina has not
changed, but Nutifood is becoming a big threat to Vinamilk in the modern affordable
segment. Domestic companies may find opportunities in the liquid milk market,
although foreign players such as Abbott, Mead Johnson, Nestle and FrieslandCampina
account for the majority of the powdered milk market. The liquid milk industry has
grown at an average compound annual growth rate of 14.6% over the past year, up 3%
in 2018. Other major players in the industry include Frieslandcampina, TH true Milk,
Nestle, IDP and Moc Chau.
In 2017, yogurt contributed about 14% of Vinamilk's revenue and 16% of gross profit.
Even when Vinamilk once dominated the yogurt market, competitive pressure is
increasing. Vinamilk's yogurt market share fell to 84% in 2017, down from 90% in
2012. Frieslandcampina is the second largest player in this segment, accounting for
about 8–9% market share.

30
2.2.3 Suppliers

Vinamilk dairy company uses raw materials from domestic cow farmers, imported
materials and raw materials from domestic cow farms.
About fresh milk: Vinamilk does not depend on raw milk sources from other
countries. All breeding cows are imported from Australia, USA and New Zealand
from ten farms of Vinamilk. Proud to be the first farms in Southeast Asia to achieve
international standards of Good Agricultural Practices (Global G.A.P.) of Vinamilk
nationwide. In March 2017, Dalat organic dairy farm became The first organic dairy
farm in Vietnam to achieve European organic standards certified by Control Union.
The total herd of cows supplying milk to Vinamilk is more than 120,000 cows from
Vinamilk's farms and farmers who have signed contracts to sell milk to the company.
The raw material needed to produce over 3,000,000 glasses of milk per day is about
750 tons of fresh milk.
For powdered milk: Fonterra, the world's leading multinational company in trading
and exporting dairy products, holds one third of the world's volume of dairy products
and supplies powder to Vinamilk. It is the main supplier of high quality milk powder
to many famous companies around the world, such as Vinamilk. Hoogwegt
International is considered as an important partner providing milk powder to producers
and consumers in Europe and around the world, playing an important role in the global
dairy market. With nearly 50 years of experience, Hoogwegt can provide reliable
information on the dairy business sector and current trends in the dairy market. The
quality of Vinamilk's powdered milk is not much inferior to other suppliers of
powdered milk from abroad. Vinamilk can be self-sufficient in fresh milk with only
milk powder. Moreover, Vinamilk pressures suppliers on the quality of raw materials
to ensure high quality products.

31
3. BUSINESS ACTIVITIES

3.1 Business strategy

3.1.1 General strategy

The Board of Directors of Vinamilk has stated that Vinamilk's business plan goal is to
maintain the top spot in the Vietnamese market while working toward the objective of
ranking among the Top 30 largest dairy firms globally in terms of revenue.
Vinamilk highlighted three key pillars that must be put into practice to meet that
objective, including:
The primary goods offered by Vinamilk Milk Company, which currently leads the
Vietnamese market with more than 250 distinct types of products, and which is present
in more than 56 countries and territories, are as follows:
- Brands of liquid milk include ADM GOLD, Flex, and Super SuSu
- SuSu and Probi are brands of yogurt
- Dielac, Alpha, and Pedia are milk powders for infants and adults. Grow Plus,
Optimum Gold, Ridielac nutritional powder, Diecerna for treating diabetes,
Sure Prevent, Calcium Pro, and Mama Gold are some examples of products.
- Ong Tho and Phuong Nam feature in condensed milk
- Ice cream and cheese brands include Subo yogurt, Delight, Twin Cows, Oze,
Ice Cream Kid, and Bow Tie Beef Cheese.
- Vfresh juice, Icy bottled water, and GoldSoy soy milk are all beverages made
from soy.

3.1.2 R&D strategy

To satisfy growing customer demands. With more than 250 distinct product categories,
Vinamilk has established techniques for product diversification, multi-branding,
research, and product development. In addition to value-added items like vinamilk
condensed milk, yogurt (both eating and drinking yogurt), cream cheese, and fruit

32
juice, liquid milk and powdered milk are the key products in this category. These are
all high-quality, nutrient-dense food that are also delightful.
Additionally, Vinamilk is constantly working to enhance, research, and add new
product lines that fairly cover the mid- to high-end segments. These products are
typically "popular" right now, such as 100% fresh milk, organic fresh milk,
pasteurized fresh milk containing bird's nest, or most recently Vinamilk Green Farm
fresh milk.
In addition to the introduction of new goods. Vinamilk also has a strategy to
concentrate on bolstering its powerful "brand" product lines, typically 100% Vinamilk
Fresh Milk, by introducing new product lines, experimenting with packaging, and
expanding flavor options. In order to satisfy client needs, health goods with minimal
sugar and fat content are available.
Additionally, by growing the size of dairy cows concurrently with raising production
and the caliber of raw materials, Vinamilk has demonstrated its capacity as the market
leader to take the initiative in raw milk materials.
Dairy cows managed and exploited by Vinamilk can now produce more than 1 million
liters of milk per day. The system of 13 farms is continuously expanding, invested and
applied 4.0 technologies in animal husbandry and management with international
standards such as Global G.A.P, European Organic. Along with the developing
projects plus the import of dairy cows, it is expected that by 2022-2023, Vinamilk's
total dairy herd can reach about 170,000 heads.
Additionally, Vinamilk's Vinamilk Green Farms in Thanh Hoa and Quang Ngai got
1,550 purebred HF dairy cows that were imported directly from the US at the
beginning of July and added them to the herd. In order to strengthen the herd for the
Green Farm eco-farm system and Vinamilk's Lao-Jagro farm complex in Laos,
Vinamilk has imported a total of over 2,500 cows.
At the 2022 Global Dairy Conference held in France, the Vinamilk Green Farm
ecological farm model and Vinamilk's tale of sustainable development in dairy
farming left a lasting effect. Vinamilk has made significant investments to improve
this system in terms of both herd size and milk output after determining that this will

33
be the region's and the world's general trend, particularly given that the demand for
milk in Vietnam is rising steadily increasing.

3.1.3 Marketing strategy

One of the innovations promoting the significant performance of this brand is the
creative communication approach. In which case, maintaining a competitive advantage
in the market is best achieved through advertising. As a producer and provider of dairy
products, Vinamilk has consistently been successful in coming up with colorful,
humorous, and distinctive images of dairy cows to impress and leave an impression on
the client.
Along with that, the phrase "100% pure fresh milk" is conveyed to customers using
multimedia marketing techniques. This helps consumers comprehend the advantages
of their dairy products since customers are more likely to believe that "fresh, pure, and
comes directly from nature"
Vinamilk copied the banner advertising concept and hung it in all forms of mass media
with the same illustration of frail cows against a gorgeous, vibrant natural backdrop,
along with the slogan "Milk 100% fresh and pure."
Promotions, discounts, and incentives have also been implemented for customers who
join Vinamilk as members. When customers accumulate a lot of gift stamps, they can
exchange a variety of lovely presents, pay 15% less for powdered milk while keeping
the price the same, pay VND 150,000 less when purchasing, and receive 1 box of 200g
carrot pig snacks. Vinamilk milk powder, one carton. The people overwhelmingly
praised the program's success and positive reception.
not only focusing on marketing and advertising tactics. The social programs "6 million
glasses of milk for poor children in Vietnam," "Standing up Vietnam" Milk Fund, and
Vinamilk scholarship "Nurture Vietnamese Young Talents" are only a few examples
of how Vinamilk demonstrates its responsibility to society and uphold its reputation.
Vinamilk Milk Joint Stock Company, particularly on August 5, 2021, helped the
frontline units in the City Police force's Covid-19 pandemic prevention by providing
1,000 cartons of milk and 1,000 barrels of drinking water. City of Ho Chi Minh.
34
Vinamilk uses personal selling as part of their marketing plan. A direct communication
strategy of employees to each client is to approach and care for them. With this
strategy, Vinamilk has concentrated on developing a team of quality sales staff with
strong product knowledge, understanding of customer psychology, and especially
professional working style., good communication skills, enthusiasm in the workplace,
willing to share knowledge, and willingness to answer questions for customers have
also been highlighted. so fostering complete faith in the excellence of goods and
services and significantly encouraging customers' purchasing behavior. And
characteristic of the effectiveness of this approach, in December 2007 Vinamilk Milk
Kid surpassed all other dairy products in sales among children aged 6 to 12.
Finally, Vinamilk constantly shows its concern for each of its clients by collecting and
reviewing their comments on its marketing and merchandise. From there, prompt
corrective action can be implemented.

3.2 Supply chain & distribution

3.2.1 Supply Chain

Procurement of supplies
Vinamilk is the leading dairy brand in Vietnam. The most popular Vinamilk products
include fresh milk, powdered milk, condensed milk, yogurt, ice cream and cheese. Not
only that, Vinamilk also aims to export products to many countries around the world
such as the United States, France, Canada, etc. In order to produce and trade a large
number of products with international quality standards, the model Vinamilk's supply
chain model includes. (accgroup.vn, 2020)

35
 Figure 3: Vinamilk's supply chain model (chc.com, 2023 )

As shown in the diagram above, Vinamilk's supply chain is involved by many

elements, all of which play extremely important fundamental roles. The input of
Vinamilk dairy company will include 2 components:

Sourcing of raw materials from abroad

The source of imported materials selected by Vinamilk comes from countries with
developed agriculture, ensuring safety and hygiene and product quality meeting
international standards. Currently, Vinamilk's main raw material suppliers are Europe,
the United States and New Zealand, typically as follows:
- Fonterra (SEA) Pte Ltd
- Hoogwegt International BV
- Perstima Binh Duong
- Tetra Park Indochina

Domestic raw materials

The fresh milk purchasing centers established by Vinamilk play the role of purchasing
raw milk from farmers and dairy farms. Investing in dairy farms to actively source
fresh milk materials is an important strategic goal and a long-term direction to help
Vinamilk improve product quality while increasing the localization rate for raw

36
materials. Whether. Currently, the total number of cows supplying milk to the
company is approximately 150,000 cows (at Vinamilk's farms and agricultural
households sign contracts to sell milk to Vinamilk), providing more than 1000 tons of
raw fresh milk per day to serve the needs of the company. production service.

Figure 4: Sustainable integrated value chain (bachhoaxanh.com, 2023)

 The input supply chain plays a very important role in producing a quality
product that meets the needs of all consumers. Therefore, building long-
term and sustainable development goals for strategic suppliers at home
and abroad is Vinamilk's main goal to ensure a continuous supply of raw
materials with high quality and very competitive prices painting.

Facilities for production

Vinamilk is the only company in Vietnam that owns a system of spray drying
machinery developed by Niro (Denmark) - the world's leading brand in industrial
drying technology. This company owns milk factories in New Zealand, USA, Poland
and 13 modern dairy factories in Vietnam. The two largest super factories are the
Vietnam Dairy Factory, which specializes in the production of liquid milk with a
capacity of 800 million liters a year. The second is the Vietnam Powdered Milk

37
Factory with a capacity of nearly 54,000 tons/year. The factories all operate on
automatic, closed lines from input materials to product output. Not only that,
Vinamilk's laboratories are all ISO 17025 certified for chemistry and biology. All
factories operating in Vinamilk's production block have an environmental management
system certified to ISO 14001:2004. (sbiz.vn, 2022)

Figure 5: Vinamilk's factory in Vietnam (sbiz.vn, 2022)

Warehouse & Logistics

Automated robots that deliver finished goods to pallet warehouses, with a capacity of
27,168 shipments, are earthquake-resistant. 8 storage systems and loading and
unloading machines with the latest and most advanced technology today. The system
is faster, lighter and more energy efficient than any previous system.
The warehouse system is called smart warehouse. Built by German company Schafer.
Vinamilk is one of the first customers to apply this technology. Directional rail (RGV)
pallet handling and conveying system with 370 meters of rails and 15 dynamic load
trays, each capable of carrying 2 pallets.
The automatic pallet storage system optimizes space, including conveyors that support
workers' loading and unloading activities. Automatic sorting of pallets and any
traceability. At the loading area, the pallet sorting system is automatically divided into
38
16 lanes according to the principle of gravity roller conveyor. The whole system is
controlled and managed by a core software of SSI Schafer. Called Wamas Warehouse
Management System.
The application of automatic machine systems and integration of automation
technology solutions, using robots in production of Tetra Plant Master, and Wamas
warehouse management system have brought Vinamilk dairy factory to remarkable
numbers. . Become the most modern factory in Vietnam and meet a large amount of
market demand. (bangtaihaitan.com, 2020)

Figure 6: Warehouse & Logistics (fasgroup.vn, 2018)

3.2.2 Distribution

Growth of points of sale (POS)

Vinamilk owns a distribution system of "terrible", covering all channels with more
than 250,000 points of sale in both traditional and modern channels, including more

39
than 200 exclusive distributors. By the end of 2021, the online channel has recorded a
3-fold increase in revenue over the same period, partly due to this trend increasing
during the pandemic and also from the foundation invested by Vinamilk for many
years. via. (vinamilk.com, 2021)
The market measure is more clearly reflected in the Kantar Worldpanel report, in 2021
in urban areas, the consumption rate of Vinamilk products will reach 99% of
households, while in rural areas, this number will be approximately 90 %.
Understandably, 9 out of every 10 households in Vietnam use at least one Vinamilk
product. In particular, this rate in urban areas is almost absolute when it reaches 99%,
this is also an area with strong growth in dairy product consumption in recent years.
(vietnamplus.vn, 2022)

Flow of distribution

Figure 7: Vinamilk's distribution network

Vinamilk's distribution network has domestic and foreign headquarters, branches and 3
main operating channels: supermarkets, distributors and key accounts.
Supermarket channels that order directly with Vinamilk's branch representatives
include big supermarkets: Big C, Metro, .. and small supermarkets like Five Mart, Citi
Mart, Intimex, ..
The key account channel includes restaurants, hotels, schools, agencies, etc. These
units also order directly from Vinamilk's branches in large quantities.
The last channel is Vinamilk's distributors, which is a traditional but strategic channel
of Vinamilk. Distributors are located throughout the provinces and cities in the country

40
according to the map outlined by Vinamilk, Vinamilk currently has more than 200
distributors with the task of distributing goods to agents and retailers in the region.
(cafef.vn, 2020)

3.3 Revenue

In 2021
The year 2021 is full of difficulties and challenges in the production and business
activities of enterprises around the world. The Covid-19 epidemic is the main cause of
global supply chain disruptions and disruptions to import and export activities.
However, this challenge creates an opportunity for Vinamilk to demonstrate its
international business position and capability when it successfully completes the plan
with a revenue of VND 6,128 billion, up 10% compared to 2020. Exports are also
good. increased 9.4% to about 45,000 tons.
International business activities during the year opened 2 new markets in the Americas
and Asia, bringing the accumulated export markets to 57 countries and territories, the
total accumulated export turnover exceeding 2.6 billion VND. USD.
In 2021, the total comprehensive income exceeded 60 trillion dong for the first time,
specifically reaching 61,012 billion dong, up 2.2% over the same period and
completing 98.2% of the year's plan.
Domestic net income reached VND 51,202 billion, up 0.7% YoY, net income from
direct export reached VND 6,128 billion, up 10.2% YoY and net income of foreign
branches outside reached 3,589 billion dong, up 11% year on year.
Profit after tax of MCM reached VND 2,926 billion, up 3.6% over the same period last
year and completing 95% of the year's plan.
Profit margin and cost structure analysis:
- In 2021, the total comprehensive income exceeded 60 trillion dong for the first
time, specifically reaching 61,012 billion dong, up 2.2% over the same period
and completing 98.2% of the year's plan. Domestic net income reached VND
51,202 billion, up 0.7% YoY, net income from direct export reached VND
6,128 billion, up 10.2% YoY and net income of foreign branches outside

41
 reached 3,589 billion dong, up 11% year on year. Profit after tax of MCM
reached VND 2,926 billion, up 3.6% over the same period last year and
completing 95% of the year's plan. Vinamilk's consolidated gross profit margin
will reach 43.1% in 2021, down 326 basis points from the same period last
year.
- Consolidated profit after tax reached 10,633 billion dong, fulfilling 94.6% of
the year plan, equivalent to earnings per share of 4,517 dong, net profit margin
of 17.4%. MCM's profit after tax reached 319 billion dong, up 13.7% over the
same period last year, fulfilling 100% of the year's plan, equivalent to earnings
per share of 2,891 dong. MCM's net profit margin came in at 10.9%, up 96
basis points year-on-year. Consolidated selling and general and administrative
expenses will reach 23.8% of net revenue in 2021. Operating expenses have
been greatly optimized compared to 25.8% of last year, in order to adapt to the
current situation. The market situation is affected by the epidemic for a long
time while ensuring revenue growth.)
(vinamilk.com, 2021)

In 2022
By the end of 2022, Vinamilk will continue to maintain a consolidated revenue of
more than 60 trillion dong, equal to the same period last year and complete 94% of the
year's plan. As a result, consolidated pre-tax profit reached VND 10,496 billion,
completing 88% of the year's plan.

 INTERNAL MARKET
Consolidated net sales in the domestic market were VND 50,704 billion, gross profit
was VND 20,556 billion. Despite facing many short-term difficulties due to the macro
situation, Vinamilk is actively implementing sustainable distribution solutions in the
period from the second quarter to the fourth quarter of 2022, creating a foundation for
medium and long-term growth.
Growth highlights for 2022 will come from the GiacmosuaViet store chain, with
revenue growing by more than 20% thanks to the opening of nearly 40 new stores, and

42
special customer channels, with revenue growing by more than 10% thanks to the
recovery. of tourism and service industries.
Revenue from e-commerce channel also continued to record an impressive growth of
more than 30% in the year. As of December 31, 2022, Vinamilk's distribution system
has covered more than 230,000 points across the country, including nearly 650
GiacmosuaViet stores in Vietnam.
Although the plant milk industry is small, it still maintains a double-digit growth rate,
of which the super nut product line, although just launched in 2022, has quickly
become a key product in the industry.
Profit after tax of Moc Chau Dairy Cow Breeding Joint Stock Company reached VND
3,133 billion, up 7.1% over the same period, mainly thanks to:
- Develop effective traditional channels, and
- Expanding the system of self-owned stores, by the end of 2022, the revenue
will increase by over 50%, there are nearly 60 points of sale.

 FOREIGN MARKETS
Net sales in foreign markets reached VND 9,252 billion, of which foreign branches
reached VND 4,424 billion, exports reached VND 4,828 billion. Gross profit in
foreign markets reached VND 3,342 billion.
Foreign branches are the driving force for Vinamilk's international business growth in
2022. For Driftwood, revenue growth in 2022 will exceed 30% thanks to
diversification of distribution channels. In terms of main channels, schools have not
yet returned to pre-epidemic levels - 19 places. In addition, Driftwood continued to
introduce some Vinamilk products to the US market. For Angkormilk, revenue grew
by more than 10% thanks to new product development and increased distribution.
Products such as liquid milk, drinking yogurt, and milk tea launched by the joint
venture all have a high rate of return customers, showing great growth potential.
(vinamilk.com, 2021)

43
4. BUIDING A SALES PLAN

Vietnam Dairy Products Joint Stock Company, another name: Vinamilk, is the leading
nutrition corporation in Vietnam today, owning a system of 17 factories, 15 domestic
and foreign farms. Vinamilk has a rich product portfolio, with more than 250 types of
products in diverse categories such as liquid milk, yogurt, powdered milk and
nutritional powder, condensed milk, ice cream, cheese, nut milk, beverage, line
Organic products… meet all the nutritional needs of Vietnamese consumers.
In addition to affirming its brand position in the domestic market, Vinamilk also has
many strategic steps to build a foothold for the Vietnamese dairy brand in the world
market through trade promotion and integration activities. actively promoting exports
in many countries such as China, Korea, Japan, the United States... Vinamilk is also
the first dairy company in Vietnam licensed to export milk to the countries of the
Asian Economic Union u (EAEU). Currently, Vinamilk is the only representative of
Vietnam and Southeast Asia in the Top 40 largest dairy companies globally in terms of
revenue (according to Plimsoll, UK), with products exported to 57 countries and
territories , with a total cumulative export turnover of more than $2.6 billion.
Vinamilk's brand value reached US$2.814 billion, making it the most valuable food
brand in Vietnam and the sixth largest dairy brand in the world, as announced by
Brand Finance - a brand valuation company. world leading reputation. Not only worth
billions of dollars, with its prestige and quality confirmed, Vinamilk is the milk brand
chosen by Vietnamese consumers the most for the past 10 years in a row according to
Worldpanel's "Brand Footprint" report. belonging to Kantar.
Launched on the market in April 2022, Vinamilk Super Nut 9 nut milk is made up of 9
premium nuts: Walnuts, Almonds and Oats and nuts, fiber-rich beans, Omega-3 and
together. many vitamins. Low sugar product, contains 94% whole nut milk. Super Nut
is being widely sold at Vinamilk's Dream Milk stores, supermarkets, and grocery
stores nationwide.
After the pandemic, consumers around the world tend to believe in health-promoting
foods, of organic and pure plant origin. In addition, with the increasing awareness of
Gen Z - a part of young people who are active, understanding and upholding a green
lifestyle, vegan products are gradually emerging and becoming a consumer habit. new

44
of the future. In that context, Super Nut 9 type milk is a potential product of Vinamilk.
Moreover, in the spirit of constantly refreshing and upgrading traditional product lines,
Super Nut is a more advanced version of the previous lines of soy milk combined with
nuts.

4.1 Build sales goals

4.1.1 Base for building goals

a. Overview market situation

The world
The global milk and dairy products industry is predicted to increase by 2.5% annually
in the report "Report and Outlook of the global dairy market in 2019-2024" by the
market research firm EMR. Despite numerous "headwinds," the dairy processing
industry has a positive view for the near future thanks to the steadily rising consumer
demand.
Milk plays a significant role in the daily food chain that humans use. Milk, which is
widely included in many food products, is seen as a microcosm of the food business
since dietary patterns among dairy consumers heavily influence other food categories.
The global demand for milk is reportedly the key factor keeping the dairy business on
a solid development trajectory. Because so many people have recently changed their
eating habits and adopted "good" habits, the demand for milk and dairy products in
general, such as butter, yogurt, cheese, and so on, tends to "revive" in industrialized
nations.
Due to rising incomes, population expansion, and diets that are becoming more
globally influenced, consumption of dairy products is also anticipated to rise in
developing nations. The growing efficiency and stability of the milk production
process in developing nations also helps to fuel the expansion of the dairy processing
sector in these regions.

45
However, it is anticipated that emerging economies would continue to have
significantly lower per capita milk and dairy product consumption than industrialized
ones.
In emerging economies like India and Pakistan, fresh dairy products are more
commonly consumed, whereas consumers in wealthier nations typically favor
processed dairy products. The majority of milk produced in developed nations is
processed into cheese, butter, skim milk powder, and whole milk powder (SMP and
WMP).
The largest dairy market is in Asia, which also influences how the global dairy market
develops. The leading dairy markets in this region are China, India, and Pakistan, with
India and Pakistan leading the growth in milk output. Another significant dairy market,
the US, is likewise rebounding from a period of low milk production brought on by a
protracted drought.
According to the most recent study from Rabobank, the global dairy market is
anticipated to stay stable over the course of the next six months thanks to the
possibility of strong enough demand to counteract the relatively meager supply.
Beginning in early 2020, it is anticipated that the combined milk production of the
world's top seven dairy exporting nations—the US, the EU, New Zealand, Australia,
Brazil, Argentina, and Uruguay—will rise by 0.8%.
Notably, unsweetened dairy products are anticipated to play a crucial function in
fueling the dairy market's expansion in the upcoming years. More than 5%, 10%, and
90% of the population in the US, Europe, and China, respectively, do not eat
sweetened milk. Dairy products without added sugar are becoming more and more
popular in these marketplaces since the majority of consumers believe that these foods
are healthful. (vietnamplus.vn, 2020)

46
 Figure 8: Milk consumption of Asian countries in 2020

Viet Nam
According to the Ministry of Industry and Trade, in 2020, Vietnam's dairy export
turnover reached US$302.7 million, up 10.5% compared to 2019. The reason why
Vietnam's dairy industry exports grew positively, according to the Association.
Vietnam's milk is because many businesses (DN) have been investing in equipment
and applying technology with a high level of automation on par with the region and
the world, many farms meet GlobalGAP, VietGAP standards, and organic farms.
opportunities ... to increase production, quality, food safety, diversify products and
access more and more deeply into the value chain of milk and dairy products in
domestic and foreign markets. Therefore, last year, despite the severe impact of the
epidemic, dairy products of Vinamilk, Vinasoy... still exported regularly to major
markets such as China, the Middle East, Korea, and Japan. The export dairy products
of enterprises are quite diverse, from yogurt, condensed milk, nut milk, organic milk to
soft drinks. For example, Vinamilk exported a dairy contract worth 20 million USD to
the Middle East; exporting nut milk and milk tea to the Korean market. Or Vinasoy
products of Vinasoy Soy Milk Factory have been included in 11 leading online sales
sites and 61 supermarkets of 6 major supermarket chains in China...
(saigonoffice.com.vn, 2021)

47
 Figure 9: Milk consumption growth (vndirect.com.vn, 2020)

b. Actual resources of enterprises

Human resources
In the context of the "post-COVID" economy and world geopolitics, there are still
many uncertainties, Vinamilk is still firmly overcoming challenges, not only leading
the business rankings but also dominating in other industries. The recruitment survey
shows the efforts and commitment of the company's leadership team.
Not only giving the right business orientations, Vinamilk also ensures an advanced
working environment, builds and develops a team of dedicated employees, highly
engaged with the organization, towards the goals. sustainable shared values.
At Vinamilk, human resource strategy is considered as one of the important pillars for
the company to achieve great success in the past and firmly step into the future.
Ms. Bui Thi Huong, CEO of the company, said that the talented staff with a high spirit
of dedication will play an important role in helping Vinamilk develop in a sustainable
way, "In addition to the human resource policy towards With regard to employees and
top-notch remuneration, the development and nurturing of financial talents is the
"trump card" for Vinamilk to both ensure quality human resources and develop the

48
successor team in the development stage. new development according to the company
strategy”, shared Ms. Bui Thi Huong.
After the COVID-19 pandemic, one of the important lessons learned by businesses is
the readiness and ability to adapt to changing circumstances, which also means that
businesses need to have innovation, internal transformation to be able to develop
sustainably in the current context.
As a leading dairy enterprise, witnessing the drastic and rapid changes of the economy
and even in the awareness and needs of consumers, Vinamilk understands this is an
inevitable step of each business.
Therefore, the company has set goals and plans to improve the working environment,
prepare the workforce to meet the transformation that the company is implementing
towards the goal of sustainable development. steady.
In particular, the human factor plays a central role and is the main driving force to
promote the successful implementation of the set strategic goals from 2022-2026.
Specifically, businesses always strive to build a culture of respect, openness,
cooperation, connection, respect for differences and promote creativity. An attractive
working environment must always create harmony, connection and promote the
strengths of many generations, in which Gen Z gradually becomes the new important
workforce.
In addition to attracting talents through attractive recruitment programs, Vinamilk also
focuses on employee training activities through capacity building programs for the
management team, professional training programs, etc. services for all levels of staff in
all departments to help improve employee capacity, meeting future job requirements.
In order to attract young human resources, the application of knowledge and
technology to accelerate the execution speed and flexible operating mechanism are
focused by Vinamilk. Thereby, helping employees to be better equipped and optimize
their time for high-value creation. (tuoitre.vn, 2023)

Production line
From the first two dairy factories, Thong Nhat Dairy Factory and Truong Tho Dairy
Factory, up to now, Vinamilk has a total of 13 factories across the country, stretching

49
from North to South, the most prominent being super factories. The most modern
liquid milk producer in the world.
All Vinamilk's milk factories are equipped with pasteurized fresh milk production
lines with modern equipment and leading advanced production technology today, the
factory operates on an automatic, closed line. closed, from input material to product
output. (tuoitre.vn, 2016)
Regarding Vinamilk super liquid milk factory in Binh Duong, this is one of the few
factories in the world with the most advanced automatic technology that Tetra Pak
Group has ever deployed. (vnexpress.net, 2023)
Currently in Vietnam, Vinamilk leads the market share of liquid milk products. In
2016, Vinamilk is estimated to market more than 7 billion dairy products of all kinds
to serve consumers nationwide. In the international market, Vinamilk's products are
present in 43 countries around the world. (bnews.vn, 2016)

Distribution network
Vinamilk's domestic distribution system currently has a chain of 430 "Vietnamese
Milk Dream" stores to nearly 251,000 retail points and supermarkets and convenience
stores across the country, helping to bring Vinamilk's products to the hands of
customers. consumers quickly and conveniently.
In 2016, Vinamilk launched the first e-commerce website giacmosuaviet.com.vn as a
pioneer dairy company. Up to now, this sales channel is still growing along with the
strong growth of online consumption in Vietnam. Vinamilk has now developed 9 more
e-commerce partners to meet new consumption trends.
Sales activities covered 63 provinces and cities, the diversity in product distribution
channels, as well as the increase in brand footprint and value. Efficient logistics and
distribution helped Vinamilk ensure a quick and complete product supply even in the
context of social distancing in the first months of the year. At the same time, this also
shows the acceptance and trust of consumers for the quality of products from this
brand.
In foreign markets, Vinamilk's products have also achieved positive results after
receiving positive signals from international consumers. Up to now, Vinamilk's

50
business activities have covered 54 countries and territories, while actively exploiting
potential new markets in Asia.
In 2019, Vinamilk successfully penetrated the Chinese market and established a
distribution system with large Chinese supermarket chains and e-commerce channels.
Recently, in Korea, Vinamilk's nut milk and milk tea products have become popular
with consumers through e-commerce channels and convenience stores.
Since the beginning of September, Vinamilk Happy milk tea products have also been
available at the chain of 1,500 popular convenience stores in Korea. Market
experience, appropriate approach strategy and brand reputation in the international
business segment built up over the past 20 years have helped Vinamilk record positive
growth.

Finance
At the end of the first quarter of 2023, Vinamilk's consolidated assets reached VND
49,265 billion, a slight increase of 1.6% compared to the beginning of the year.
However, there were still items with high volatility, notably: cash and cash equivalents
decreased by 12.6%, inventories increased by 21.1%, short-term receivables increased
by 8.5 %.
Vinamilk's asset structure is leaning slightly towards short-term assets (accounting for
nearly 66% of total assets). In which, short-term main investment (with the majority
being short-term bank deposits) continued to account for the highest proportion with
the proportion up to more than 1/3 of total assets of the company. This partly shows
that the company is still quite cautious, holding safe assets, but not promoting business
expansion in the context of an unfavorable market.
Vinamilk's total liabilities at the end of the first quarter of 2023 were VND 14,755
billion, down 5.8% compared to the beginning of the year and accounting for 30% of
total capital. Notably, the company's short-term bank loans increased strongly +41.5%
compared to the beginning of the year. This is also the largest item in the company's
liabilities and accounts for 14% of total capital.
The current financial structure of Vinamilk is quite safe, the financial leverage ratio is
relatively low when the ratio between liabilities and equity is 0.42. In addition, thanks

51
to abundant liquidity and low debt ratio, Vinamilk's short-term debt solvency ratios are
quite stable (current ratio = 2.3 times, ratio fast payment = 1.8 times)
In the first quarter of 2023, Vinamilk's business activities netted a net income of 128.8
billion dong, although a slight decrease compared to the same period last year, in
general, this is still a stable cash flow and continues to be the main source of cash
generation of the company. company.
Cash flow from investment activities was recorded at VND475 billion, mainly thanks
to the recovery of term deposits and interest and dividends received. Although the
company has increased mobilization quite strongly from short-term bank loans, due to
the large cash dividend payment to shareholders, up to 2,926 billion VND, Vinamilk's
cash flow from financial activities remained at a negative level of nearly 891 billion
dong this quarter.

Figure 10: Revenue in the first quarter of 2023

52
c. Latest sales result
In the first quarter of 2023, Vinamilk's revenue was almost flat compared to the same
period last year when it only increased by 0.3% and reached VND 13,918 billion. In
addition, revenue from financial activities reached VND 420 billion, up 31.3% over
the same period (mainly due to bank interest and increasing exchange rate difference).
As for costs, since the cost of input materials has not decreased much, the cost of
goods sold in this quarter continued to increase by 3.2%, higher than the growth rate of
revenue, causing gross profit to decrease by 4% over the same period last year. . At the
same time, most of the remaining operating expenses such as financial expenses and
selling expenses increased significantly by over 10%. Therefore, after deducting all
expenses, Vinamilk recorded a 16.5% decrease in profit after tax in the first quarter of
2023 compared to the same period last year.

Figure 11: Business results in the first quarter of 2022 and 2023 (daututudau.net,
2023)

4.1.2 Sales target arrival time

According to data from the General Statistics Office in 2020, Vietnam's liquid milk
market has a CAGR of 14% in the period 2014 - 2019. In which, nut milk accounts for
53
12% of the liquid milk market structure, with a CAGR of 18%, highest among liquid
milk lines. (vnexpress.net, 2023)

Figure 12: Total revenue of Vinamilk from 2010 to 2023 (cafef.vn, 2023)

In 2021, Vinamilk's total consolidated revenue exceeded 60 trillion dong for the first
time, specifically reaching 61,012 billion dong, up 2.2% over the same period and
completing 98.2% of the year plan. For MCM, net revenue reached VND2,926 billion,
up 3.6% YoY and completing 95% of the year plan. (vinamilk.com.vn, 2022)
In 2022, Vinamilk has a total consolidated revenue of more than 60 trillion dong,
specifically reaching 60,075 billion dong, completing 94% of the year plan. For MCM,
net revenue reached VND3,133 billion, up 7.1% yoy and fulfilling 100.4% of the plan.
(vinamilk.com.vn, 2023)

54
 Figure 13: Revenue structure of Vietnam dairy market (vneconomy.vn, 2021)

The dairy industry in Vietnam has had the most unaffected revenue growth in recent
years.
After studying the micro and macro environment in the above sections and the revenue
of the last two years, we estimate the liquid milk segment will achieve a compound
growth rate of 7% in sales during 2022 thanks to milk demand. water is increasing as
schools reopen and the government promotes the "School Milk Program" - milk is
distributed to preschools and primary schools, in an effort to improve nutritional status
and stature physical education for young children and 10% by 2023.
 Revenue
The dairy industry in Vietnam has had the most unaffected revenue growth in recent
years.
After studying the micro and macro environment in the above sections and the revenue
of the last two years, we estimate the liquid milk segment will reach 20% in 2023 and
15% in 2024.

55
Vinamilk's nut milk revenue in Vietnam in 2022 is estimated at about 1,000 billion
VND. This represents a significant increase from the company's nut milk revenue in
2021, which is estimated at around VND80 billion ($3.5 million).
=> Revenue in Vietnam 2023 (expected): 1000*1.2 = 1200 billion dong
=> Revenue in Vietnam 2024 (expected): 1200 * 1.15 = 1380 billion
The average population in Vietnam is 99,937,867 (person)
The average population of Ho Chi Minh City is 9,320,866 (person).
=> HCMC revenue 2023 (estimated and expected): 1200*(9,320,866)/ 99,937,867 =
111,919931 (million VND)
=> Sales target for 6 months 2023 in HCMC
111.919931/2 = 55.96 (million VND)

4.2 Sales excution:

4.2.1 Sales force execution

Recruitment
a. Standard of sales management
Education:
- Graduate.
- Preferred majors in Economics, Business Administration, Marketing,
Commerce ...
Experience:
- At least 02 - 03 years of working experience in a similar position in large-scale
companies in the FMCG industry;
- Having knowledge and experience in managing business activities related to
supermarkets/chain of convenience stores; especially purchasing department,
purchasing department...
- Knowledge of management of brands and categories at
supermarkets/convenience store chains.
Professional knowledge and skills:

56
 - Analytical and planning skills.
- Communication, negotiation, negotiation and presentation skills.
- Problem-solving skills.
- Skilled in building and developing cooperative relationships with customers
and partners.
Other requirements:
- Proficiency in office computer.
- English communication.
- Honesty, team spirit.
- Under high work pressure and overtime.

b. Standard of sales staff

Degree: Graduated from high school
- Priority is given to those who have experience in FMCG sales, sales staff of
brands: Nutifood, TH True Milk,...;
- Male, Female, agile; Agility, hard work, good communication;
Graduated from high school or higher;
- Basic operations on computers, POS machines for sales and payment;

Benefits & benefits

Total salary: 7,000,000 - 8,000,000 VND (Basic salary + sales achieved).
Bonuses during the year: 3-4 months salary/year:
- Performance bonus: 2-3 months salary/year (according to the business situation
of the Company);
- 13th month salary;
- Other bonuses in the year: Tet gifts, March 8 gifts, Mid-Autumn Festival,
International Children's Day, Employee commendation for having children who
are good students,...

Training employees

57
Open monthly training (including: product introduction, teambuilding, case study
solving, ..) to improve soft skills for sales. Open sales skills class (free) with
supervision. After each week, the sales manager will get together with their team to
point out the team's weaknesses and set out their goals for the next week.
Incentive policies.

Other benefits
Probationary work with 100% official salary;
Full labor contract after 2 months of probation;
Social insurance, health insurance, unemployment insurance, full after 2 months of
probation;
Annual health check-up.

4.2.2 Giac mo sua Viet – Vinamilk

In addition to the nationwide network of Vinamilk Introduction and Sale Stores,

supermarkets, and retail locations, this is one of the Vietnamese companies in the fast-
moving consumer goods (FMCG) industry to establish additional e-commerce
channels.
The following Vinamilk goods are available for purchase on the Vinamilk eShop: Milk
powder, Nutrition powder, Condensed milk, Liquid milk, Yogurt, Beverage, Ice
cream, and Cheese. Products are devoted to the manufacturer's quality requirements,
and users may quickly look up and choose precise nutritional information. Payment
options include cash upon receipt or online credit and debit card payments...
Goods will be delivered the same day for orders placed before 10 am. After that, the
product is delivered to the customer within 24 hours of the order being confirmed.
Customers receive free delivery with a minimum purchase of 300,000 VND. This
website initially caters to users in Ho Chi Minh City's inner districts.
"With the goal of consistently innovating, enhancing customer convenience, and
establishing new sales channels, the company aspires to grow market share while
reiterating its top ranking in the dairy sector. Now there is no need to travel far;
58
anyone, at any time, can visit the Dream Dream Vietnamese Milk website and order
whatever products they choose, which will be delivered to the location, according to
the company leader.
Customers will receive a variety of special incentives in October when buying on the
Vinamilk eShop in addition to the discounts offered at the Product Introduction Store
system, such as 5% off, buy one get one free, and several alluring freebies. On the
Dream Dairy Vietnam website, presents are included with every order.
Vinamilk will eventually roll up online sales channels across all of the country's
provinces and cities after Ho Chi Minh City.
The second quarter's consolidated financial accounts show that net sales totaled VND
12,449 billion, an increase of 18.6% over the same period previous year. Vinamilk's
sales increased by 18.6% in just six months to 22,782 billion dong, and its profit after
taxes increased by 33% to 4,972.6 billion dong.
The company has set a target of VND 44,560 billion in revenue and VND 8,266
billion in profit after tax for this year. So, after six months, the business had achieved
51% and 60%, respectively, of its revenue and profit goals.

59
 Figure 14: Vinamilk's Gia Mo sua Viet store chain (vinamilk.com, 2021)

4.3 Supporting marketing activities

4.3.1 Market position

Positioning Value

According to the Brand Footprint Report 2021, Vinamilk is the most popular brand in
the dairy and dairy products sector. This is the 10th year in a row that Vinamilk has
won the top spot. It can be claimed that a decade of consistently achieving this
outcome has confirmed Vietnamese customers' affection and trust for Vinamilk
products in their daily lives.

Positioning Statement

60
Vietnamese people have the practice of drinking milk every day, however from the
perspective of the consumer, milk's ease of consumption is its main selling advantage.
Although milk is a necessary meal for human life, people only trust high-quality
products that have been proven successful on the market. Quality will be one of the
main factors that people with high incomes will pay attention to. Issues with quality
and health are what prevent firms from reaching a bigger audience.
Vinamilk releases their low-sugar nut milk products, Vinamilk Super Nut 9.
Walnuts, Premium Almonds imported from the US, together with high-fiber nuts, are
all ingredients in Vinamilk Super Nut Milk, which is manufactured from nine different
types of premium nuts with high nutritional content. Omega-3, fiber, and several
vitamins good for the brain, body, and skin are all present in Super Nut, which
contains 94% nut milk.

4.3.2 SWOT Analysis

Table 3: Swot Analysis of nut milk market

S (Strength) W (Weakness)
The combination of 9 types of nuts with a Allergies: Although nut milk is less
grain content of over 94% will be full of allergenic than animal milk, some
essential nutrients for the body. people may be allergic.
Suitable for vegans and non-animal Storage conditions: Nut milk usually
consumers: Nut milk is a great option for needs to be stored in cool and fresh
vegans, people who don't consume dairy conditions to avoid rapid spoilage.
and animal products, and people with This can make storage and
allergies to animal milk. object. It provides transportation difficult, especially
a real source of nutrients when traveling or when a refrigerator
useful object. is not available.
Nutrients: Nut milk can be rich in fiber,
protein, unsaturated fats, vitamins and
minerals. For example, almond milk is rich

61
 in fiber, vitamin E, and unsaturated fats.
Soy milk provides protein and calcium,
while rye milk is rich in fiber, B vitamins
and antioxidants.

O (Opportunity) T (Threat)
The global nut milk market has been There are too many big competitors in
growing rapidly in recent years. the country.
Vietnam also has the number of consumers Nut milk products will be more
wanting to use nut milk up to 66%. expensive than cow's milk products,
There are many distribution channels across so the choice to buy is limited.
the country that are easy to find and buy
products.

4.3.3 Objectives of supporting marketing activities

Identify the problem

The global nut milk market is estimated at VND 34 billion by 2024, in line with the
World trend, Vietnam also has a number of consumers wanting to use nut milk up to
66%. Vinamilk has a relatively fast growth rate compared to its competitors, although
its nut milk line lags behind the nut milk lines of other large corporations.
Consumers are tending to switch to natural foods, but there are also many concerns
about product quality because there are gradually too many nut milk products on the
market. Depending on each customer, there will be different health conditions with the
desire to have nut milk products that are both convenient and meet all the necessary
nutrients to ensure their health, so choosing a nutritious product health becomes more
and more difficult.
Vinamilk noticed that, so it launched the VINAMILK Super Nut 9 line of low-sugar
nuts. The product line "Nutritional, irresistible delicious", bringing 3 GOOD benefits

62
for the whole family seems to solve all consumers' worries when combining 9 types of
nuts with 94% nut content and vitamins necessary for the body as a measure for
consumers.

Target
The main goal of this marketing communication strategy is to increase customer
interaction on social networking sites and increase sales for VINAMILK Super Nut 9
low-sugar nut milk product.

Figure 15: Vinamilk's facebook fan page (facebook.com, 2022)

Increase customer interaction on social networking sites: Currently, Vinamilk main

Facebook page has about 669,725 likes and 689,862 followers, but the level of
interaction with articles about the product is still quite low and not enough. impression

63
for consumers, so this campaign is expected to gain 900,000 followers and 850,000
likes. The interaction of consumers with the brand's products is a strong advantage in
the relationship between businesses and customers, increasing brand recognition as
well as increasing customer satisfaction, thereby retaining them for a long time. long
with the brand. Nowadays, in the era of technology development, the use of social
networks is increasing, so in order to attract customers Vinamilk Super Nut 9 low-
sugar nuts must have a communication strategy to make a strong effort to introduce the
use as well as The benefits of the product besides giving clear messages in accordance
with the needs of consumers.
Increase sales for VINAMILK Super Nut 9 low-sugar nut milk products : To
encourage consumers to experience VINAMILK Super Nut 9 low-sugar nut milk
products. We have planned and implemented a campaign by allowing customers to
directly try milk and will have someone directly answer all consumer questions at
supermarkets nationwide in 3 days. Besides, in addition to the fact that consumers can
directly experience nut milk, but also attractive gifts when buying a carton of
VINAMILK Super Nut 9 types of low-sugar milk, they will have the opportunity to
receive attractive and valuable gifts. value for customers. The campaign will be
updated on Vinamilk main Facebook page so that consumers can easily participate
with rewards such as sports bikes, yoga courses and phone scratch cards.

Insight
People who tend to consume green, have health and fitness needs, will choose nut milk
instead of cow's milk. In addition, milk is combined from many high-quality nuts, so it
is delicious, easy to drink and is also part of a healthy diet to help promote health and
improve physique.

Big idea
“Improve yourself every day with Super Nut”
We are constantly trying to become better every day. In addition to learning and
improving knowledge, taking care of your health and physique is indispensable for
each person. Vinamilk understands the wishes of customers, so it has launched the

64
VINAMILK Super Nut product line with 9 low-sugar nuts. Super Nut will accompany
customers on the way of perfecting and renewing themselves every day.

Key message
“Green energy - Keep fit, healthy skin”

Figure 16: Poster of the product (facebook.com, 2022)

4.3.4 Media selection

Timeline: 3 phases (1 month)

Phase 1 (July 1, 2023 - July 5, 2023): Raise awareness to customers about the product.
Phase 2 (July 6, 2023 - July 10, 2023): Attract customers to participate in this
campaign of the brand.
65
Phase 3 (11/7/2023 - 31/8/2023): Learn and act.

Table 4: Campaign roadmap

Time Activity Content Note

1/7/2023 FB post 1: An article introduces the

Informing about story of this campaign.
the campaign

2/7/2023 FB post 2: Introduce promotions with

“Green energy, attractive rewards included
Keep skin in the article.
healthy.”

3/7/2023 FB post 3: An article announced the

Announcement of gifts in this campaign. The
program rules in first prize includes 20
this campaign. sports bikes, 30 Yoga
courses, 200 recharge codes
worth 100,000 VND

4/7/2023 Fb post 4: Learn more about the 9 nut

Introducing the milk production process
production and check out the source of
process of 9 Super milk ingredients.
Nut milk.

5/7/2023 Fb post 5: There is a 1-liter version

Mix & Match that gives consumers the
with 1 liter nut freedom to create a variety
milk. of healthy breakfasts and

66
 dinners with a variety of
nuts, cereals and different
fruits.

6/7/2023 - Experience & try The event was held at At each store,
10/7/2023 VINAMILK supermarkets and grocery supermarket will
SUPER NUT . stores nationwide. With the have a person
products. desire to give customers a standing up to check
free trial of 9 types of in and sample
Vinamilk's nuts, increasing products
brand awareness with
consumers.

11/7/2023 Attract customers The program to approach The program to

- 5/8/2023 Understanding customers and try the approach customers
and buying product lasts for 1 month, and try the product
behavior of hoping that everyone can lasts for 1 month,
consumers experience it. hoping that
everyone can
After customers try the experience it.
product, this is also the time
to learn more and make a
purchase decision. This is
also the time to start
running the lucky scratch
card program to everyone.

6/8/2023 - Consumer buying End the activity for the FB posts will be
11/8/2023 behavior. customer to try the product. updated regularly to
The lucky scratch card attract customers'
program continues. attention during the

67
 program's duration.

Evaluate performance after the fact. To evaluate the success of this campaign, we will
use the SMART goal model to get an overview and details of the campaign. Then, we
will compare this 9 SUPER NUT milk activity with similar activities to see how
effective it is, and make comments and suggestions for better performance in the
future. After observing and studying campaign results, customer feedback is an
important part of the final assessment of campaign success, through feedback surveys
and topic tracking and traffic. access on social networks.
Through this campaign, we hope to raise consumer awareness of the product and drive
sales of 9 Super Nut.

Tools
Vinamilk is currently using Facebook as their main social media tool for promotion
and communication.
Vinamilk, a large dairy product manufacturing and trading company in Vietnam, can
use Facebook tools to carry out the following communication and marketing activities:
- Promote products and brands: Vinamilk can use Facebook to promote its dairy
products and build brands. They can post articles, pictures, and videos about
new products, features, health benefits, and quality of the products to attract
customers' attention.
- Interaction with customers: Vinamilk can use Facebook to directly interact with
customers through posts, comments and private messages. They can answer
questions, provide product details, answer questions, and handle feedback from
customers.
- Promotions and events: Vinamilk may announce and promote promotions,
events, contests or other important activities through Facebook. This enhances
interaction and creates interest from customers.
- Advertising and targeting: Vinamilk may use Facebook's advertising tools to
reach target customers. They can define a target audience based on age,
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 location, interests and online behavior to ensure that their message reaches the
right people.

4.3.5 Budget

Table 5: Total budget for sales plan

Categor Performance Quantit Unit Price Total Note

y y (VND) (VND)

Design, Creative FB post, 7 pic 1.000.000 7.000.000

printing, Agency image /each
and
POSM Booth, 600 - Booth 67.000.000
items
Standee, (x150):
Poster, 300.000/
Banner each
- Standee
(x50):
200.000/
each
- Banner
(x100):
120.000/
each

Staff 200 Shirt 80.000/ 16.000.000 Price

Uniform each includes
design,
tailoring
and
collared

69
 polo
shirt.

Event Staff 200 pers 3.900.000 780.000.000

on / person

Sampling 6.000 bin 180.000/ 1.080.000.0

bin 00

Reward - Sports - 20 - 49.800.000

mountai pcs 2.490.000
n bike - 30 / 45.000.000
- Yoga train pcs.
course ing - 20.000.000
- Phone sessi 1.500.000
recharge ons /
code - each
100,000 200 -
vnd rech 100.000/e
arge ach
code
s

FB ads FB ads Advertising 7 Post 5.000.000 35.000.000

Running for /post
Running each
cost significant
post.

TOTAL (VND): 2.099.800.0

00

70
4.3.6 Evaluate

After the campaign is over, evaluate the effectiveness in many ways. Whether the
campaign is successful or not, we must follow the results carefully to determine that,
the evaluation process includes the following steps:
- Define campaign goals, this includes raising brand awareness, generating more
leads and years, and tracking the engagement and interest of each Facebook
post.
- Evaluate and measure the growth of competitors and look back at the brand's
previous campaigns to determine the effectiveness of each campaign.
- After starting to run the campaign, finally look back at the brand's sales
revenue. Check on Google Analytics to track the results on the integrated media
front.
- On Facebook ads, we will measure the success of the campaign by tracking the
interaction on the page, the traffic to the page.
The results of the evaluation will help us to evaluate the performance of the campaign
and make more informed decisions about future campaigns.

71
 CONCLUSION
The report has focused on highlighting the product's value and differentiation from
similar products in the market.

We evaluate and analyze the potential market for Super Nut 9 nut milk. Factors such
as dairy industry growth, health consumption trends, and healthy lifestyles have been
taken into account. This shows the feasibility and development potential of the product
in the current market.

In addition, we have proposed a comprehensive sales plan to promote and reach

potential customers. Includes the use of digital and systematic communication
channels to increase brand awareness and generate interest in products. In addition, the
report also mentions building relationships with business and distribution partners to
ensure products reach consumers effectively.

In summary, the report has outlined a detailed implementation plan, including

advertising activities, promotions and communication activities. The plan also covers
performance measurement and growth tracking to adjust and optimize sales strategy
over time.

72
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