I.

INTRODUCTION 1
II. MARKETING ENVIRONMENT 1
III. SWOT ANALYSIS 4
IV. MARKETING STRATEGIES 6
V. 4Ps 8
VI. VINAMILK FRESH MILK 100% SWOT 14
VII. RECOMMENDATIONS 15
VIII. CONCLUSION 16
IX. APPENDIX 16
X. REFERENCES 18

I. INTRODUCTION

Vinamilk, Who Are They?

Vinamilk, launched in 1976, also known as Vie­tnam Dairy Products Joint Stock Company, is
Vietnam's top dairy company. They're popular for a range­of top-notch dairy items, such as milk,
yogurt, condensed milk, and powdered milk. Over the decades, VNM has not only shaped the
landscape of Vietnam's dairy industry but also significantly contributed to enhancing the
country's reputation in the broader global dairy market. Today when mentioning the word
"Vinamilk", the first thing buyers think of is outstanding milk quality and advancement, along
with concern for the community and green health.

Reasons for choosing Vinamilk

Vinamilk stands out for analysis due to its leading position in Vietnam's dairy sector, marked by
robust quality management practices, diversified product lines, and a solid reputation. Its
leadership in innovation, commitment to sustainable development, and global impact make it a
compelling subject. Vinamilk's ability to navigate challenges, maintain high-quality standards,
and sustain consumer trust sets it apart, offering rich insights into successful business strategies
and market resilience. Exploring Vinamilk's approach to innovation provides valuable lessons for
industry analysis and understanding sustainable growth in a challenging economic environment.
II. MARKETING ENVIRONMENT

A. MICRO ENVIRONMENT

INTERNAL FACTORS

1. Company
Ms. Mai Kieu Lien - The Chief Executive Officer (CEO) said: "We are always steadfast
in our mission of bringing quality products from responsible production and business
activities". With that mission, Vinamilk also has a vision to become the leading symbol of
trust in Vietnam in nutrition and health products serving human life.
2. Organizational Structure
According to Vinamilk's financial report (2022), the company’s board of directors has 7
executive directors in charge of each department (Human Resources; Administration and
Foreign Affairs; Finance; Marketing; Manufacture; Development of raw material areas
and R&D).
3. Products
Vinamilk currently has more than 200 different products with 04 main product lines
including Liquid Milk, Yogurt, Condensed Milk and Formula Milk and is distributed to
30 countries worldwide with more than 18 million products consumed every day
(Vinamilk, 2023). Especially, according to statistics, Vinamilk ranked 100% in both
product sales and revenue in the fresh milk brand segment.
EXTERNAL FACTORS
1. Customers
With the motto of taking customers as the focus, Vinamilk not just considers the main
target group of children under 14 years old whose parents have an average income, it also
targets special consumer groups such as the elderly, pregnant women, giving birth or
breastfeeding, sick people, infants (Vinamilk, n.d.).
2. Supplier
The company is working closely with nearly 5,000 dairy farmers and exploiting a herd of
more than 130,000 cows. In addition, the milk raw materials have been supplied to
Vinamilk by reputable and reliable suppliers around the world from the US, Australia,
New Zealand, France (Van M. Vu, 2015).
 3. Marketing Intermediaries
Currently, Vinamilk has nearly 200 distributors, 600 "Giac Mo Sua Viet" stores and
250,000 points of sale in Vietnam. In addition, the group also cooperates with 13
e-commerce partners.
4. Competitors
There are many companies competing with Vinamilk such as Abbot, Dutch Lady and
Nutifood, but TH true Milk and VPMilk have recently had a significant impact on
Vinamilk's donating market. (VnExpress, 2022).
5. Public
With its sustainable development strategy, Vinamilk has contributed significantly to the
development of society with many programs. After 2022, the company also announced
that it will continue to accompany head nurses and elderly clubs across the country,
promote the implementation of the School Milk project and towards the goal of
generating Net-Zero emissions by 2050.

B. MACRO ENVIRONMENT
1. Economy
With special circumstances like 2022, pressure from rising input raw material prices,
along with inflation, causes consumption to decrease, causing raw milk prices to increase
by 60-70%, with some groups even increasing by 100% in the first 6 months of the year
(VIRAC, 2023). However, the increase in GDP in 2023, good market conditions will
create higher income and lead to higher demand for milk products (VCCorp.vn, 2023).
2. Social
As a populous country with a high population growth rate of about 1.2%/year, the dairy
market in Vietnam has great potential (vbcsd, n.d.). Furthermore, with the increasing
quality of life, consumers worry more and more about their health. And nutrition from
milk has become an essential thing today. This creates an advantage for Vinamilk in
developing more of its products, especially the fresh milk market that is suitable for
everyone.
3. Technology
 Known for its "unmanned factories", Vinamilk is constantly developing and improving its
technology under its digital production line. Vietnam's leading smart warehouse systems
and warehouse management systems increase Vinamilk's competitive advantage in the
international market.
4. Politics
Thanks to globalization, Vietnam has opened its gate for more international trades. It is
undeniable that the participation in the World Trade Organization (WTO) in 2006 creates
a wide range of opportunities for Vinamilk to expand in the international market.
However, the appearance of many more new foreign brands can increase the intensity of
competition in the domestic market (Huy & Tran, 2018).

III. SWOT ANALYSIS

STRENGTH WEAKNESS

- Strong brand imprint: - High expenses for marketing

+ Long history and strong + Specifically, they spent 430
foundation billion VND on advertising
+ One of most prestigious and and market research.
famous brand in Vietnam - Market Concentration
- Effective marketing strategies + Over reliance on the domestic
- Wide distribution network market could pose risks.
+ The company has over 240 - Dependency on Dairy Products
distributors and 270,000 retail
points across Vietnam.
Vinamilk's products are also
exported to over 50 countries
worldwide.
- Innovation:
+ Introducing new designs that
are more user-friendly and
environmentally sustainable.
- High-experienced leadership and
management:
+ Mrs. Mai Kieu Lien - CEO for
over 27 years since 1992, has
led Vinamilk through various
stages of growth.
- Diverse and high quality products
portfolio
- User-friendly application
+ Giacmosuaviet can bring
convenience to consumers in
purchasing their dairy products
OPPORTUNITY
- Health consciousness: the increasing
health consciousness and awareness
among consumers
- Higher income levels of mid-level
consumers: consumers might seek
better quality products and be willing
to pay more for trusted brands
- New Production Technologies:
+ Enhance production efficiency,
reduce costs, and ensure
consistent quality.
THREATS
- Viet Nam’s WTO accession:
Conditions for foreign companies to
take part in the domestic market. It
will increase competition among
companies in the industry
- High prices for raw materials
+ Only 28% of the local demand
for fresh milk is satisfied (BSC
- 2010), prompting the
company to cover the need by
importing milk powder.
- Lower profits from livestock
farming
+ Factors like increased feed
costs or expenses related to
maintaining livestock health
can reduce profitability
 - Preferences of customers:
+ Users tend to use imported
powdered milk rather than
domestically produced

⇒ Based on these analyses, Vinamilk 100% fresh milk stands out from other products of
Vinamilk because of its features and potential strength. According to Nielsen Vietnam's
findings (Nielsen IQ), in 2021, Vinamilk was the leading manufacturer in the categories of
liquid milk, sweetened condensed milk, and drinking yogurt in terms of output and sales
volume. So with this robust strength and external opportunities, Vinamilk 100% fresh milk is a
compelling topic and worthy products for further analysis.

IV. MARKETING STRATEGIES

Segmentation :

Segmentation Demographic Psychographic Behavioral Geographic

traits traits traits traits

Kids Age: 3-14 years Personality: Benefits Cities and

old Active, flexible, sought: urban areas
Income: curious digestive
No income, assistance,
depend on delicious taste,
parents assist in
boosting bone
structure,
eyesight growth
User status:
Potential User
Usage rate:
daily
Youth The age : 15-25 Personality: Benefits Cities and urban
years old More pressure, sought : areas
Income : unable ambitious, nutrient-rich,
to earn money energetic, boost
or low earnings mature immunity
User status :
Lifestyle: Regular users
modern, Usage rate :
health-aware daily

Adult Age: above 25 Personality: Benefits Cities and urban

years old family - sought: areas
Income: 7-10 oriented. nutrient-rich,
million VND or anti-aging,
above Lifestyle: strengthens
Organized, bones
health-consciou User status:
s, focusing on Regular users
enhancing Usage rate:
physical and medium users
mental health
Targeting:
Vinamilk has identified cities and urban areas as its primary focus for marketing, based on milk
consumption levels. The key market segment for Vinamilk Fresh Milk 100% comprises children
aged 3 to 14, aiming to provide dairy products essential for their physical health, including bone
and teeth development, hydration, and immunity enhancement (Sharma, 2018). Vinamilk chose
this market segment because parents are more inclined to choose healthy options, including dairy
products, to ensure their children receive adequate nutrition at this age. Also, this demographic
represents a sizable and growing market. Families with children are often consistent consumers
of dairy products, creating a stable and potentially lucrative customer base. Furthermore,
establishing brand loyalty at a young age can lead to long-term customer retention. If children
grow up consuming Vinamilk products and develop a preference for them, they are more likely
to continue choosing Vinamilk as they grow older.
Positioning:

1. Positioning based on product characteristics: 100% Fresh Milk pasteurized milk

focuses on milk quality to clean, sterilize but still retain the delicious taste of fresh milk.
2. Positioning products according to competitors: There are many competitors for fresh
milk products. One of them is TH True Milk but Vinamilk has the following advantages:
● There are imported raw materials, or from international standard farms, while TH
True Milk has raw materials from its own farms. Vinamilk 100% Fresh Milk is a
leading product in the field of sterilized milk production. Besides, the products are
diverse in design and meet the quality requirements of consumers.
3. Positioning by quality and price: Compared to other types of pasteurized milk,
Vinamilk 100% Fresh Milk has good quality and reasonable price, so it quickly captured
market share. According to Vietnambiz, Vinamilk holds 58% of the milk market share, of
which sterilized milk accounts for about 30%.
V. 4Ps

Product:
- Core benefit: Vinamilk Fresh Milk 100% provides essential nutrients for kids's growth
and development. Calcium, protein, vitamins A, D3, and selenium are included in this
 product which are all crucial for building strong bones and teeth, supporting healthy
immune function, and promoting cognitive development (Vinamilk, 2015)
- Augmented benefits: Lots of positive comments and feedback on social media praise the
natural and fresh taste of milk, while the convenient packaging and child-friendly
designs. Also, different sizes (180ml, 500ml, 1L) cater to various consumption needs and
occasions.
- According to Nielsen Vietnam survey results, Vinamilk 100% fresh milk is the highest
rated dairy product in terms of quality and taste in Vietnam. Specifically, 95% of
consumers are satisfied with the quality of the product and 92% of consumers are
satisfied with the taste of the product (Nielsen Vietnam, 2023)
- On Shopee, Vinamilk 100% fresh milk is rated 4.9/5 stars with more than 100,000
reviews. Of these, 95% of reviews are positive (Shopee, 2023)
- Features: Vinamilk commits to using 100% pure fresh milk, pasteurized only, devoid of
preservatives, catering parents' worries about artificial additives. A variety of fat content
and organic alternatives allows parents to choose based on their children's specific needs
and preferences.
- Branding: VNM has built a strong reputation as a trustworthy and reliable brand,
following three key messages: "quality and safety", "nutrition", "variety". Therefore,
Vinamilk Fresh Milk 100% has successfully attracted numerous royal customers due to
its branding.
- Packaging: Vinamilk Fresh Milk 100% has two different packaging types, but the same
international quality. To preserve the freshness and nutrition of milk for 6 months without
the need for preservatives, Vinamilk is currently cooperating with two of the world's
leading paper packaging suppliers, Tetra Pak (Sweden) and COMBIBLOC (Germany)
(Vinamilk, n.d.)
- Product life cycle: In spite of the aged product, many new flavors such as chocolate and
strawberry (ESHOP, n.d.) are continually innovated to meet children's growing tastes and
avoid product boredom. They also provide lactose-free choices catering for youngsters
with specific dietary needs.
Price:

Pack of four 180ml cartons of milk 33.000 VND/carton

 Pack of four 110ml cartons of milk 21.000 VND/carton

Vinamilk Fresh Milk 100% Paper box 1 liter 36.000 VND/paper box

Box of 48 boxes of 180ml 393.000 VND/box

- Pricing strategy: Vinamilk maintains a competitive price point within the fresh milk
category, making it accessible to most parents. The premium positioning of the Organic
option caters to parents seeking a higher quality product and are willing to pay a slightly
higher price.
- Price points: The product's affordability is further enhanced by frequent promotions and
discounts offered through retailers and loyalty programs. This incentivizes parents to
purchase Vinamilk 100% Sữa Tươi for their children regularly.
- Value perception: Parents generally perceive Vinamilk 100% Sữa Tươi as a good value
for money, offering essential nutrients, child-friendly features, and competitive pricing,
making it a cost-effective solution for their children's health needs.
Place:
- Distribution channels: Vinamilk Fresh Milk 100% product is distributed through
diversified channels like:
- Supermarkets and convenience stores: Vinmart, BigC, Coopmart, Circle K, Ministop,...
- Grocery stores: Family-owned grocery stores provide wider reach in rural and remote
areas.
- Online platforms:
+ E-commerce: Lazada, Shopee,...
+ Website: The official website of Vinamilk
- Vinamilk stores: With more than 600 stores across Vietnam (Vinamilk, n.d.-b),
consumers can easily find and buy Vinamilk Fresh Milk 100% in their preferred shopping
destinations
- Location strategy: Beside focusing on dominant cities and provinces, Vinamilk is
especially enlarging its reach into rural areas. This strategy ensures that this nutritious
product has been approached to children in all regions.
 - 70% of rural retail outlets in Vietnam have Vinamilk Fresh Milk 100%, which
emphasizing the company's target on expanding its rural presence (Nielsen, 2023)
Promotion:
- Marketing communication: Vinamilk reaches out to parents and children through a
variety of marketing strategies. Through interactive content and contests, social media
marketing engages parents and children.
- Youtube: Vinamilk Fresh Milk 100% advertising video named “ BÒ TƯƠI VUI, SỮA
TƯƠI NGON 100%” reaches 42 million views, with approximately 1,2 thousands likes
(Vinamilk, 2022)

- Targeted promotions: Vinamilk regularly offers promotions tailored to specific age

groups within the kids segment. For example, they might offer smaller sizes with fun
designs for younger children or bundle flavored milk options with educational toys.
- In 5 Oct 2023, “ANNOUNCEMENT OF 100% VINAMILK FRESH MILK
PROMOTION PROGRAM” give a gift when customers buy 01 box of Vinamilk 100%
sterilized fresh milk products, capacity of 180ml, any types or 02 boxes of Vinamilk
100% sterilized fresh milk products, capacity 110ml, any types will receive an Inochi
food box or a glass or a water bottle or a Vinamilk book.
- Branding and sponsorships: Sponsoring children's events and collaborating with popular
cartoon characters allows Vinamilk to build brand awareness and positive associations
among children. This creates a sense of familiarity and trust, making Vinamilk 100% Sữa
Tươi a natural choice for parents.
- Robot Talent Contest "Robotacon - WRO 2023" with the theme "Connecting the world"
was held in Ho Chi Minh City with sponsorship from Vinamilk. To ensure the health and
energy of young contestants with a stressful and long competition schedule, at the
competition rounds, Vinamilk also motivates young players by serving unlimited
Vinamilk Fresh Milk 100%.
- Brand repositioning: Give gifts of backpacks, cloth bags, and notebooks. New images
and logos to spread the effect of brand repositioning.
VI. VINAMILK FRESH MILK 100% SWOT

STRENGTHS WEAKNESS

The product line meets international Limited Flavors:

standards for quality and food hygiene
- Vinamilk always complies with
international standards such as Codex,
DHA and WHO and AFFSSA
standards. This product has been listed
in the list of standard nutritional and
safety products, and meets the quality Ineffective Marketing Strategy:
and safety needs of consumers.
- The farm system is built as a closed,
automated system with carefully
selected cow breeds to bring the highest
milk yield.
- Technology Application 4.0 in farm
management and dairy farming
Vinamilk milk ingredients provide many
nutrients
- With DHA, 17 vitamins and minerals,
Vinamilk nutritional milk
ADM helps children develop their brain,
height and increase resistance.
- The Vinamilk 100% Fresh Milk
product is currently limited in terms of
milk flavors. Specifically, it is currently
available in chocolate, strawberry,
regular, and sugar-free variants.
- The lack of a robust marketing strategy
has been a significant weakness. The
company has struggled to communicate
and highlight the unique selling points
of 100% Fresh Milk, making it
challenging to differentiate it from
other milk products in the market. Due
to the weak marketing efforts, there is a
lack of consumer awareness and
understanding regarding the distinctive
qualities of Vinamilk's 100% Fresh
Milk compared to other milk variants.
This hinders the product's ability to
stand out in a competitive market.

OPPORTUNITIES THREATS

Vietnam is a rapidly growing market for Local and Global Competitors:

dairy products - Other local dairies in Vietnam and
- In 2022, Vietnam produced 1.5 million international brands may offer similar
tons of milk, up from 1.2 million tons in products, possibly at lower prices or
2021. This makes Vietnam the third with additional benefits.
largest producer of milk in the region, Changing Consumer Preferences:
behind China and India.
- The trend of consuming pure fresh milk - Plant-based milk alternatives are
is becoming more popular gaining popularity, and consumers may
Vinamilk is a leading dairy brand in opt for almond, soy, or oat milk over
Vietnam traditional fresh cow's milk.
- With a reputation and product quality Economic Factors:
trusted by consumers. This will help - Economic downturns can lead to
Vinamilk's 100% fresh milk product reduced consumer spending power,
 have a competitive advantage in the affecting sales of premium products
market. such as 100% fresh milk.
The demand for fresh milk is forecasted to
increase significantly.
- According to a report by the
International Dairy Federation (IDF),
world milk consumption demand in
2022 is estimated to reach about 880
million tons, an increase of 2%
compared to 2021. In particular, regions
with milk consumption needs The
highest are Europe (28%), Asia (27%),
North America (16%) and Africa (11%).

VII. RECOMMENDATIONS

- Invest in research and product development: Vinamilk can invest in research and product
development to create new and attractive fresh milk products to meet the increasing and
interesting needs of consumers. To be specific, adding new flavors to the product to suit
dietary preferences as well as attract targeted customers, young people, such as: fruit
flavors (blueberry, strawberry, kiwi, orange,... ), milk tea flavor, fresh whole milk.
⇒ This will not only minimize the “THREAT” of Changing Consumer Preferences
and overcome the “WEAKNESS” of Limited Flavors in this day and age.

- Vinamilk should take advantage of international standards in products to develop and

expand abroad, specifically Southeast Asia. Thanks to the free trade agreements that
Vietnam has signed, such as: CPTPP, EVFTA, ... this will assist Vietnam in lowering
import duties, improving reputation and product quality, and strengthening collaboration
with trading partners. (AGlobal, n.d.)
⇒ This will maximize the “STRENGTHS” of international standards products and
make use of “OPPORTUNITY” of the increase in demand for milk.

VIII. CONCLUSION
In conclusion, nowadays, thanks to rapid population growth, income increase, and high
consumer awareness, the Vietnamese dairy market has even more potential for development.
Moreover, with the trend of sustainable development, modernization, and product diversification,
Vinamilk has more opportunities to restore its market share to pre-pandemic levels. Moreover,
Vinamilk 100% Fresh milk - an essential product line, suitable for all ages - is produced with a
strict closed production process according to European organic standards, and is trusted and used
by more and more people, meeting the increasing demand for milk from consumers. Under that
positive development, Vinamilk has a goal of replacing the packaging for all products by 2024 as
well as promising to enhance technology and improve product quality for consumers.

IX. APPENDIX
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