CHAPTER-01

OVERVIEW CORPORATE STRUCTURE

CORE VALUE

01
VISION
To be Vietnam’s pride Leadership
by uplifting the Entrepreneurship
material and spiritual Passion for winning
lives of Vietnamese
Integrity
consumers;
Trust
Driving market
leadership with best-
in-class operating.

MISSION
“To provide quality products and services for Vietnam’s population of
nearly 100 million people, enabling them to get more value for money on
their daily basic needs.”
(Masan, 2022)

CHAPTER-02

EXTERNAL ENVIRONMENT
MICHAEL PORTER’S FIVE FORCES

POLITICS ECONOMY SOCIETY Rivalry Among Competing Sellers

Government maintain the
disbursement progress of public
investment. (MOF, 2023)
Many policies from the Government
and SBV were issued to support
businesses and the economy. (SBV,
2023)
P E
GDP growth is not as expected. (Existing Competitors)
Consumption growth recovers.
Inflation rate follows a slight
Peak consumption season at the HIGH (The investor, 2023);
uptrend, remains stable (GSO, 2023). Existing rivals: not highly differentiated, intense discounts and
end of the year.
Lending interest rates may decrease marketing strategies (High competition) (Vietstock,2023).
Vietnam’s population is scheduled
(MOIT, 2023).
to reach 100 million this year (GSO,
Exchange rates slightly increases in
the last three months (Masan, 2022).
2023). Competitive Pressures From Potential
Entrants (MODERATE)
S Economies of scale by buying products in large quantities
(StudyCorgi, 2023);
Largest number of outlets, around 3,268 WinMart+ stores and
130 WinMart supermarkets (Wichart,2023).

Firms in Other Industries Offering

Substitute Products (STRONG)
PESTELE ANALYSIS Produces a wide range of products (Simply Wall Street, 2023);
Street food has gained prominence like Vinamilk; Kido Group
(Vietstock,2023).

T E
Digital Transformation. Increasing awareness
Artificial Intelligence and and demand for
Machine Learning (MOST, sustainable and green
2023). consumption. (MOIT,
Expected Rapid Growth in 2023)
Smart E-Commerce Green transformation,
Market (VECOM, 2023). circular economy,
sustainable development
according to ESG
standards. (PwC, 2023)
TECHNOLOGY ENVIRONMENT
Supplier
Main suppliers in Vietnam, unity and support;
L E Substantial relations (Investor Relation, 2023);
Supra; in-house logistics helps consolidate products from WCM’s
suppliers (Masan Group, 2022);
Update on Vietnam Increasing support from
High supplier bargaining power.
Antitrust and Competition customers for ethical and
Law. socially responsible
Integrated document of business (Intage Vietnam,
Buyer
the Law on Environmental 2023). Wide range of substitute products and alternatives, provide a
Protection available in personalized shopping experience;
Vietnam (The Office of the BUYERS HAVE HIGH BARGAINING POWER;
National Assembly, 2022). Diverse category of customers with different incomes through
different channels (Investor Relation, 2023);
Minimal price competition, maintain competitiveness via WIN
members program (Masan's annual report, 2022).
LAW ETHICAL

CHAPTER-03
FINANCIAL RESOURCES
High amount of net cash (Wichart, 2023) Stable and positive cash flow (Masan, 2023)
Sep, 30th, 2023

operating activities
9,477 BIL VND is in cash &
out of 145,072 bil VND cash equivalent
mainly generated from branded FMCG products and its O2 consumer ecosystem
INTERNAL
1.33 Interest coverage ratio MSN follows disciplined and stringent capital investment strategy
(Masan, 2023) environment
PHYSICAL RESOURCES
MCH MML MHT
major investment in processing line

large chilled meat processing

nationwide FMCG network

provides advanced tungsten materials with high-quality mine

sale points, manufacturing facilities, 2 complexes in Ha Nam and Long An
flagship stores and transaction centers.

Binh Duong, Ho Chi Minh City, Hau Giang, Phu Quoc,…

1.4 14&16 Nui Phao a state-of-the art processing plant
million pigs/annum hi-tech, livestock farms polymetallic mine in Thai Nguyen province
798 132
kiosks nationwide flagship & mini stores
140,000 30
Vietnam’s first international standard processing plant
tons/annum of state-of the art production
supermarket and minimarket of scale, capable of producing four different minerals
and processing facilities
3,400 locations nationwide
meat products
in Vietnam
and metals from a single ore body

PRIMARY ACTIVITIES VALUE CHAIN SUPPORT ACTIVITIES

(MASAN GROUP Annual Report 2022, n.d.) (MASAN GROUP Annual Report 2022, n.d.)
Infrastructure HR Management
Inbound logistics Operations

WCM, MCH: Purchasing products from WCM: Streamlining their shop opening procedure, tailoring the layout
local suppliers across the countries and operations of the stores
Animal feed is their primary business MCH: Convenience food, beverage, and home personal care products Connect consumers with offers equitable chances
Techcombank services to clients on a MML: Cost Leadership Strategy. In 2023, increase distribution into WCM products and services offered fosters a culture of inclusion
single platform Techcombank: TPay get benefits when using TPay at WCM’s retail stores in Masan’s ecosystem maintains a competitive edge
MHT: Inventory reduction, logistic (Techcombank, 2022)
initiatives, internal audit MHT: In 2022, MHT acquired a minority stake in Nyobol
→ A major, worldwide circular economy platform with scale operations

Service Outbound logistics

WCM: WIN membership
WCM:
(MASAN GROUP Annual Report 2022, n.d.) MCH: invest in R&D
Multi-format store strategy Masan makes investments in distribution reach to make its products and MML: funding research and
Establish and maintain the
Enhance WIN membership program services available in a market where 65% of the population still live in development for processing
ideal quantity of trustworthy
(VietnamFinance, 2023) rural areas line, both fresh and processed
suppliers by reviewing each
MCH: Trading marketing, Customer goods
supplier’s quality criteria, price,
service, E-commerce Techcombank: digital and
Sales and Marketing production capability, delivery
MML: Feed production, Meat processing, mobile channels
and fulfillment capability
Customer Service MHT: two R&D facilities in
Techcombank: Customer Relationship Expanding its store network Building a strong brand Vietnam and Germany
Manager (CRM) platform along with Enhancing its omnichannel Promoting Vietnamese products
Salesforce presence Offering competitive prices
MHT: Supply advanced tungsten Strengthening its supply chain Providing a convenient shopping
materials, fluorspar, bismuth, offer copper, Building customer loyalty experience Procurement Technology Development
creating novel and long-lasting solutions

CHAPTER-04
STRENGTHS

Enormous financial power

Multibusiness corporation aims to enhance O2 customer ecosystem Large budget on promotional activities and product development
Strong M&A activities to develop “Point of Life” strategy costs
Enormous customer base Compensation for employees and key management teams are not
Masan Consumer's relationship with suppliers is consolidated, really good, creating challenges in recruiting and retaining
enhancing operational processes qualified employees
Widely-dispersed distribution network covering 64 provinces Misleading advertising leads to bad impressions
High brand recognition with unique marketing activities and promotion Huge dependence on domestic market
campaigns Expansion leads to difficulties in management processes
Most of Masan Consumer’s raw materials and resources are imported
Investment in R&D center in Vietnam and Germany
Foreign partnership → increased production cost
Sustainable supply chain management and high
market share in high-tech materials - MHT

WEAKNESSES
OPPORTUNITIES
THREATS

Big market, a great number of users, especially the young population.

Necessary consumption demands account for 50% of total consumption
Volatile input costs could threaten the margins as these costs remain
structure and will continue to account for a significant proportion.
difficult to pass on to consumers in what remains a price-sensitive
Further substantial potential for Phuc Long coffee and tea chain, both
environment
domestically and internationally
The arrival of multinationals focused on branded food sales will
Masan Company is a reputable joint-stock company that can
jeopardize Masan's market share
mobilize many capital sources in the financial market.
Customers' standard for service quality is increasingly high
Has received investments from a number of multifunctional funds for
product launches, marketing campaigns and expansion
+ Masan Group wins at least 200 mil USD from Bain Capital
+ SK Group is a long-term partner of Masan Group, with respect to
its interest in MSN shares, both corporations are working together to
achieve a multi-year solution to mutually maximize their shareholder value
Opportunities to expand import and export markets through other
countries as Vietnam joined WTO

CHAPTER-05
STRENGTHS WEAKNESSES
S1: Enormous financial power
S2: Multibusiness corporation aims to enhance O2 customer W1: Large budget on promotional activities and product
ecosystem development costs
S3: Strong M&A activities to develop “Point of Life” strategy W2: Compensation for employees and key management teams
S4: Enormous customer base are not really good, creating challenges in recruiting and
S5: High brand recognition with unique marketing activities retaining qualified employees
and promotion campaigns W3: Misleading advertising leads to bad impressions
S6: Investment in R&D center in Vietnam and Germany W4: Huge dependence on domestic market

matrix
S7: Foreign partnership W5: Expansion leads to difficulties in management processes
S8: Sustainable supply chain management and high market W6: Most of Masan Consumer’s raw materials and resources are
share in high-tech materials - MHT
S9: Masan Consumer's relationship with suppliers is
imported →
increased production cost

consolidated, enhancing operational processes

S10: Widely-dispersed distribution network

SO WO
OPPORTUNITIES Use investment to reorganize Masan’s advertising and
Use customer databases & Invest financial potential
marketing strategies to represent the products/service
O1: Necessary consumption demands account for 50% of appropriately in R&D to further develop products suitable for
accurately. (W1 O3)
the needs of a large customer base of necessity in Vietnam
total consumption structure and will continue to account Do more market research to classify consumers into more
(S1-7 O1)
for a significant proportion specific cases. Customer feedback should be addressed
Improving the quality of existing high brand recognition
promptly to solve any discomfort (W3 O3)
O2: Incentive policy when joining foreign markets (WTO products (S1 S6 O1 O3)
Diversify its product offerings and enhance the quality of
participation) Minimize input costs and utilize bargaining power to
them (W4 O2)
O3: Financial power & investments from a number of negotiate sensible price of input materials (S5 S9 S10 O1)
Develop a clearer strategy to expand, maximize
Increase the brand equity of WinCommerce to different types
multifunctional corps government support (W4 O2)
of consumers (S10 O1)
Re-evaluate its approach to expand. Masan should put
Expand business activity into foreign markets (S1 S7-9 O2)
more priority on sustainable manageable strategy (W5 O3)

ST WT
THREATS Minimize input costs and utilize bargaining power to
negotiate sensible price of input materials (S4 T1)
Improve the quality of existing high brand recognition
products and maximize benefits from the existing Invest in promotional activities and product development of
T1: Volatile input costs could threaten the margins as
nationwide distribution network (S5 S6 T2) key products to optimize monetary resources (W1 T2)
these costs remain difficult to pass on to consumers in Build reputation through customers' real-life experience in
Invest on R&D products research using foreign capital
what remains a price-sensitive environment physical stores instead of advertising (W3 T3)
resource to incorporate more innovative and customer-
T2: The arrival of multinationals focused on branded friendly features into services and products (S7 S8 T3) Initiate more export contracts of specified quality products
food sales will jeopardize Masan's market share Use data from enormous customer base and conduct (W4 W5 T2)
customers’ survey to gain deeper insight into customers’ Apply self-sufficiency in input materials (Do M&A with its
T3: Customers' standard for service quality is
expectations, thereby enhancing the customers’ services (S4 suppliers, or build its own manufacturing system for input
increasingly high materials) (W6 T1)
T3)

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