1.

Political:
● Import dairy products are subject to higher taxes now and in the future.
● Vietnam has established a comprehensive strategic partnership with 7 leading
countries, including Russia, China, India, South Korea, Japan, the United States,
Australia.
2. Legal:
● The dairy industry is not affected much by the law.
● Decree 3399/QD BCT: Approving the planning for development of Vietnam's milk
processing industry to 2020, vision to 2025.
3. Economics:
● TH True Milk's revenue in 2020 recorded 8,689 billion VND, an increase of 60.6%
compared to 2020.
● In 2022, this business will profit more than 311 billion VND, an increase of 77%
compared to 2020.
4. Sociological:
● Vietnamese culture is increasingly developing so their needs are also changing.
● Vietnamese have a high national spirit, so they welcome native products.
5. Technology: TH invested in TH clean fresh milk processing factory. It's the largest
scale in Southeast Asia with the most modern equipment in the world.
6. Natural:
● TH True MILK has its farm is Nghia Dan (Nghe An) with a harsh climate, influenced
by dry West Lao wind.
● Temperatures up to more than 40 degrees C and humidity below 30%.
● Less affected by storms but often has heavy rain and floods.

1.2. INDUSTRY ENVIRONMENT

1. Pressure from customers

● Final customer segment: This is an important customer because the ultimate goal is to
sell to this segment.
● Market segmentation by geography: TH True Milk focuses mainly on customers
living in big cities.
● Commercial customer: Mainly customers buy goods from stores, supermarkets. In
addition, also buy online at the website: https://www.thmilk.vn.
● Market segmentation by demographics: customers are housewives, young people,
children, the elderly, and families with a good income or higher.
2. Pressure from within the industry
● Domestic milk production in Vietnam cannot keep up with increasing domestic
demand.
● The powdered milk market share is largely held by foreign businesses .
● For liquid milk products, Vinamilk accounts for over 50% of the market share.
3. Pressure from direct competitors: In 2020, 43.7% of Vietnam's dairy industry
market share belongs to Vinamilk, TH true milk has 14.1% market share,...
 4. PRESSURE FROM POTENTIAL COMPETITOR: True Milk's potential
competitors are beverage businesses such as Suntory Pepsico, Coca, Tan Hiep Phat,...
5. Pressure from alternative products:
● The dairy industry not only provides fresh milk but also many other types such as
powdered milk, nut milk, green tea, fruit tea, etc.
● TH Group has quickly launched many product lines such as TH True MALT (barley
germ drink), and TH True Herbal (herbal drink).

II. INTERNAL ENVIRONMENT:

Star Question Marks

Condensed milk leads the segment with a
high growth rate and often faces
competition from Vinamilk and several
other brands.
Cash Cows
Fresh milk is accounting for nearly 45% of
the market share with stable profits.
Yogurt has a low market share and small
revenue, but it is a high growth rate and
high-profit potential.
Dogs
Water, ice cream, butter, cheese, soft drinks,
etc. are occupying a small market share and
may not bring many benefits.