Student Number
130116998
Tran Thi Cam Van
Programme
Business Management
Module Tutor
Vu Thi Phuong Thao
Module Code:
2BM040
Module Title:
Marketing practice
Assignment Number:
1
Assignment Title:
Case study
Word Count:
4,197
First Attempt/Re-sit/Deferred/Extension granted
First Marker’s feedback
Overall comments
First
Marker:
Date:
Indicative Mark:
Second Marker’s or Moderator’s comments:
Second
Marker:
Date:
Indicative Mark:
Moderator:
Date:
Indicative mark:
Agreed Mark:
Contents
1.
Executive summary.......................................................................................................................2
2.
Current marketing situation...........................................................................................................2
2.1.
PESTLE Analysis......................................................................................................................2
2.2.
Porter Five Forces......................................................................................................................3
2.3.
Customers analysis....................................................................................................................4
2.3.1.
Psychographic....................................................................................................................4
2.3.2.
Profiles...............................................................................................................................5
2.4.
3.
SWOT Analysis.........................................................................................................................6
Marketing Objectives.....................................................................................................................7
3.1.
Vision and Mission....................................................................................................................7
3.1.1.
Vision................................................................................................................................7
3.1.2.
Mission..............................................................................................................................7
3.1.3.
Core value..........................................................................................................................7
3.2.
Corporate Objectives.................................................................................................................8
3.3.
Marketing objectives.................................................................................................................9
4.
Marketing strategies......................................................................................................................9
4.1.
Competition analysis.................................................................................................................9
4.2.
Competitor analysis...................................................................................................................9
4.3.
Choosing competitive strategies..............................................................................................10
5.
Segmentation and target market...................................................................................................11
6.
Action programs..........................................................................................................................12
7.
Marketing Mix.............................................................................................................................13
7.1.
Product.....................................................................................................................................13
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7.2.
Distribution..............................................................................................................................13
7.3.
Price.........................................................................................................................................14
7.4.
Promotion................................................................................................................................14
7.4.1.
Advertising......................................................................................................................15
7.4.2.
Sales promotion...............................................................................................................15
7.4.3.
Public Relations...............................................................................................................15
7.5.
8.
People..................................................................................................................................16
Implementation control................................................................................................................16
8.1.
Marketing metrics....................................................................................................................16
8.2.
Organizing for implementation................................................................................................17
10.
Bibliography............................................................................................................................19
11.
Appendices..............................................................................................................................22
11.1.
Appendix 1. PESTLE Analysis............................................................................................22
11.2.
Appendix 2. Poster Five Forces...........................................................................................25
11.3.
Appendix 3.SWOT Analysis................................................................................................27
11.4.
Appendix 4..........................................................................................................................27
11.5.
Appendix 5. Competitor Analysis........................................................................................30
11.6.
Appendix 7. Revenue and cost of goods sold.......................................................................32
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1. Executive summary
The report also investigates the fact that the analysis conducted produce a marketing plan for
Vinamilk in Vietnam as a Director of the company is preparing to enter/address conditions of
the current market. Needs and habits using of milk are increasing in Vietnam. Vinamilk’s
products try to hold market share in the major cities and continues to expand into rural and
small town area such as Nghe An, Thanh Hoa, Nam Dinh, in a mature market. Vinamilk’s
price will not change, but we will focus on improving services for rural customers. Fresh
dairy products will be targeted in customers is children 4-15 years old. The marketing
objective will achieve sales of 70 thousand of liters liquid milk in the first year-2014. And in
the second year, achieving sales of 110 thousand liters, market share 5%.
With this report, the research from all sources of reference is very important. A practical
subject needs to scope of the study to be funded with abundant references. The report has
collected documents from the Internet, newspapers, reference books,... with the desire to
highlight the content needs of topics. Besides, the report used textbooks and reference basic
marketing from the York St John University and Library’s Hanoi University of Industry.
While researching this topic helps us to have an insight and details on how "practicing"
business of the company Vinamilk. It requires a true business strategy cleverly combined
with good leaders. However, limitations of the report are the lack of information from the
marketing magazine.
2. Current marketing situation
In this section, all of the marketing plan process in business begins with a review of the
current market situation for the product. The situation analysis frequently can be included
five sections:
2.1. PESTLE
Analysis
It is has been that “the macro-environment consists of broad environmental issues that may
affect business performance. There are Political/ Legal, Economic, Ecological/ Physical,
Social/ Cultural and Technological forces” (David Jobber 2010, p. 43). PESTLE is shorthand
for a list of the macro - environment.
Figure 1, below, demonstrates the factors assessed in this analysis:
Figure 1. PESTLE Analysis
Political/Legal
Economic
Social
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Customer characteristics & needs:
Size, composition of markets & segments
Technological
Environmental
For the detailed assessment of Vinamilk’s microenvironment and the factor which may have
the most appropriate for its marketing strategy, see appendix 1
2.2. Porter
Five Forces
Micro forces are also usually classified in a range of ways using models and frameworks such
as Porter’s Five Forces Model (Porter 1990). It has been that “the model seeks to explain how
competitive power and competitive advantage (the bases for strategic advantage) come about
as a result of environmental factors” (Jim Bylthe and Phil Megicks, p.81). The five forces are
as follows:
-
Bargaining Power of Suppliers
-
Bargaining Power of Customers
-
Threats of Substitute Products
-
Threats of New Entrants
-
Competitive Rivalry within an industry
For the detail Poster five forces analysis of Vinamilk’s current marketing situation, see
appendix 2.
5|Page
2.3. Customers
analysis
Consumer behavior mean that the individual responses shown in the decision process to buy
goods and services. Research consumer behavior help businesses make to products,
marketing strategies and business matching products.
Sources: Principles and practice marketing – David Jobber (2010, p.263)
Jobber (2010, p.262) points out that it is influenced by three main factors: of segmentation
methods used in consumer markets: Behavioral, Psychographic, Profile. These factors help
Vinamilk has grounds to reach and serve customers.
2.3.1. Psychographic
There is no habit in Viet Nam for the production or consumption of dairy products; peculiarly
in Vietnam is the smallest milk producer of the Asian countries covered by the FAO’s
analysis. Milk consumption per capita/year increased from 10 kg ME in 2004 to 15,7kg ME
in 2011 but compared to the average consumption of Asia Pacific in particular and the world
in general, Vietnam has one of the lowest. Per capita milk consumption in Vietnam is 16%
(2012) reach to 7% of the recommended daily nutrition in the world.
6|Page
Vinamilk’s buyers come from all classes of society. They selected Vinamilk products
because it has high quality, reasonable price and the big dairy company in Vietnam.
Changing in consumer attitudes is a positive signal for the dairy industry in Vietnam. That is
opportunity for Vinamilk.
2.3.2. Profiles
Demographic
Vietnam with large population size, according to the General Statistics Office, Vietnam's
population in 2011 was 87.84 million, 2012 may exceed the threshold of 88 million people;
high population growth rate of 1.04%. Tiep. P(2011) write that, Vietnam Population structure
of group "young population structure", some people under age group accounted for 31.8%, of
which less than 15 years old, accounting for 24.1%.
Hence the demand for milk is quite large, and is increasing. This is an opportunity to expand
the market Vinamilk.
Geographic
Stated by GSO, the urban population was 28.87 million, accounting for 32.19%; rural
population was 60.83 million, accounting for 67.71%. Thereby the population in rural areas
still accounts for a very large, Vinamilk interest in expanding retail distribution channels in
these areas; create products with reasonable price. This is threats for Vinamilk.
7|Page
Source: Survey of Population Change - 1/4/2011 family planning, GSO
The change in structure, along with the mobilization birth plan, every family has one or two
children (in Vietnam but has not done much serious but less success); so members have many
opportunities to participate in social work, care about the children… That is opportunity of
Vinamilk.
2.4. SWOT
Analysis
The marketing environment for Vinamilk also contains some challenges. SWOT analysis of
the company conducted by marketers to highlight Vinamilk’s strengths, weaknesses,
opportunities, and threats. As David Jobber indicates that SWOT analysis presents a
thumbnail sketch of the company’s position in the marketplace (2010, p.46), figure 2, below,
is an typical of SWOT analysis
Figure 2.SWOT Analysis
Internal
Strengths
Weaknesses
(Controllable)
External
(Uncontrollable)
Opportunities
Threats
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For the detail SWOT analysis of Vinamilk, see Appendix 3.
3. Marketing Objectives
3.1. Vision
and Mission
3.1.1. Vision
Vinamilk stated that, “to become a world grade brand in food and beverage industry, where
people put all their trust in nutrient and health products”.
3.1.2. Mission
Campbell (1990) definition mission runs as follows:“A mission exists when strategy and
culture are mutually supportive. An organization has a mission when its culture fits with its
strategy”. That is organization’s character, reason for existence.
By this definition, Vinamilk’s mission is “Vinamilk continues to expand its existing
geographical coverage and product portfolios to maintain its sustainable dominant position in
the local market and maximizing its shareholder value”.
3.1.3. Core value
You can see the following image (Vinamilk sustainable development report, 2013)
9|Page
3.2. Corporate
Objectives
Taking up at least 5 % of fresh milk market segment in the next 2 years (2014-2015)
The company’s ultimate goal is sales reach to become one of the 50 major dairy companies in
the world basing on following key factors:
Profit: maximize the values to shareholders; maintain annual dividends to shareholders,
the dividend rate at least 30% of par value.
Growth: In the period 2012 - 2017 sales reached 3 billion USD.
Leader: Development of human resources management strategy.
Brand image: Vinamilk would achieve from 48,7% to 60% market share of fresh milk
products in rural area (2012-2017). Reinforcing a system of powerful brands to satisfy the
demand and consumption trends of Vietnamese consumers.
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3.3. Marketing
objectives
Corporate have established specific objectives include increasing sales revenue, profit,
market share, growth in distribution outlets. However, in parallel with the goals of the
business is growth- in the period 2012-2017 sales reached 3 billion USD. • Distribution:
Vinamilk will build 30 branches in the major markets of Asia such as China, Japan, Korea,
India, Indonesia, Thailand, Malaysia, and Taiwan…, 500 thousand points of distribution in
Asia to 2030. 15 factories in China, India, Indonesia, Thailand has built to 2035. The
objectives can be achieved for the first and second years 2014-2015 is expanding to the rural
and small town areas. In which marketing objectives will include sales, profits, market share,
and advertising awareness in rural areas, small towns in Northern.
First-year objectives: In the first year of liquid milk on the new market, we will aim to units
purchase volume is 70 thousand of liters.
Second-year objectives: The objective of our second year is selling a total of 110 thousand of
liter liquid milk and break-even early, market share increase 5%.
4. Marketing strategies
Jobber (2010, p. 38) has argued that “the aim of strategic planning is to shape and reshape a
company so that its business and products continue to meet corporate objectives (e.g. profit or
sales growth)”. In addition, Kotler & Armstrong (2012, p. 78) claim that “a marketing
strategy consists of specific strategies for target markets, positioning, the marketing mix, and
marketing expenditure levels. It outlines how the company intends to create value for target
customers in order to capture value in return”. Marketing strategies will help Vinamilk attain
its overall corporate objectives. Vinamilk’s discussion focuses on product and brand image
marketing plans.
4.1. Competition
analysis
Vinamilk locate the product on the market, thereby making appropriate strategic decisions
and its capabilities can possible to determine the target market. It is analyzed basing on
BCG matrix;
Ansoff’s product/market expansion gird;
Product life cycle.
For detailed findings of the analysis of BCG matrix, Ansoff’s product/ market expansion
gird, product life cycle, see Appendix 4.
4.2. Competitor
analysis
Jobber (2010, p. 709) stated that, “competitor analysis seeks to answer five key questions.
1. Who are our competitors?
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2. What are their strengths and weaknesses?
3. What are their strategic objectives and thrusts?
4. What are their strategies?
5. What are their response patterns?”
Vinamilk identify the strengths and weaknesses of main competitor, the choice of target
market may define competitor targets and be influenced by them. In the fresh milk market,
Vinamilk’s competitor is TH True Milk. Key success factor in a Competitive Dairy Market is
market share, brand image and some critical from Journal of Dairy Science (1998) such as
internationalization, new technology, product diversity and quality, financial strength. Ca.L
(2011) shown that “Vinamilk still leads the market with about 50% market share. TH True
Milk positions itself as a potential competitor”.
The competitive advantage of Vinamilk is inputs stable and high quality, especially image of
an enterprise has quality assurance for a nutrition product. Vinamilk is the dairy market
pioneer in Vietnam. When analyzing Vinamilk, the Thang Long Securities Company, Apec
or Vietstock have said that the most notable opponent is TH True Milk. For futher
information about competitor, see Appendix 5.
4.3. Choosing
competitive strategies
Strategic positioning based on quality of product commitments "Vinamilk committed to
bringing to the community the best nutrition, the best quality with the respect, love and
responsibility for their lives human and social".
Jobber (2010, p.714) wrote that “differentiation strategy involves the selections of one or
more choice criteria that are used by many buyers in an industry”. On other hands, “using a
12 | P a g e
differentiated marketing strategy, a firm decides to target several market segments and
designs separate offers for each” ( Kotler 2012, p.226). Vinamilk produces several different
brands of fresh milk by family + individual brand name (functional products). Vinamilk is
referred to by the English name of the Vietnam Dairy Products Joint Stock Company.
Furthermore, product diversification is a Vinamilk’s differentiation strategy.
5. Segmentation and target market
Vinamilk’s target market segments have been decided basing on analysis of our micro and
macro-environment in section 2. Figure 3, below, is the analysis of segments and Vinamilk
implications.
Figure 3.Segment Vinamilk’s market
Customer bases
Product
0-4
Flex UHT milk, UHT calcium, fat FLEX (>
2 years old), UHT flavored milk Vinamilk
5-14
UHT micro-nutrients ADM +, Twin Cows
UTH milk, Vinamilk 100%, UHT flavored
milk…
15-25
Vinamilk CanxiPro, Vinamilk Weight Loss,
Vinamilk 100%, and UHT FLEX - NO
lactose…
> 25
Vinamilk Diecerna, Vinamilk CanxiPro,
UHT calcium, fat FLEX…
Age
Benefit sought
People should abstain 100% UHT skimmed milk
from fat or prevent gaining
weight
The body can’t tolerate
lactose
UHT FLEX - NO lactose…
Economic,
consumer
UHT "daily nutrition"
affordable
Based on these segments, as well as considering the characteristics of the product, it is shown
that main customers of fresh milk Vinamilk are group age under 14. Some reason as children
carrying the three power markets: the ability to direct spending, the ability to influence the
spending of parents and relatives of the family; children's futures markets. Accounted for
15% of the population, children 5-14 age group is the center of attention in Vietnam,
especially the attention from their parents. Parental concern is what's best for their children,
the evidence is that they ignore the cheap milk powder (17,000 / kg) towards the foreign milk
13 | P a g e
prices many times higher (300,000 / kg) or whether they are willing to buy him the clothes
fashionable with dearly triple products for adults (Marketing Vietnam, 2014). Especially,
now Vinamilk implement marketing objectives is holding the market in a big city; and market
expansion in rural areas, small towns.
6. Action programs
The fresh dairy products will be attacking new markets in rural areas (Nghe An, Nam Dinh,
Thanh Hoa, Ha Tinh) in February. The following is a summary of the action planning; we
will use two different stages to achieve.
The first phase will take place in the fall (September, October / 2014), just before the school
started the new school year.
The second phase will take place in the spring (February, March / 2015) on the occasion of
Tet in Vietnam every year.
April 2014, we will launch a promotional campaign 400,000 cans and organizing a trade fair
for education agents and create channels of support for products going into the rural market
in February. In addition, we will create a survey by providing sample products to processed
milk products should be distributed in rural areas. Training our staff will work with the sales
staff at the large chain retailers in rural areas. Our staff is trained to work with retail
salespeople in the great chain of rural areas.
May/ 2014: The advertising agency will work with the marketing team. We will start an
advertising campaign, print / radio / internet integration targeted to rural barns area
consumers. Sponsorship of local activities - research will start in April 2014. This campaign
will show how the benefits of drinking milk by health education in meeting women. The
creative team at advertising agencies will have three months to come up with the officially
approved by marketing and the media will be deployed.
September, October/ 2014: advertisements in school will run starting. September 2014,
promotional phase will be implemented. This is a chance for kids going to school, creating
relationships in schools, scholarship support to overcome poverty on the occasion of the new
school year.
Second phase, special promotions for retail outlets in rural areas starting in December / 2014
and ended in January / 2015.
January, February/ 2015: Big sales for fresh milk 200 ml and 1l specifically for rural areas.
7. Marketing Mix
Marketing strategies provide a linkage between objectives and specific planned actions. That
is marketing mix, it means “the controllable variables the company puts together to satisfy
this target group” (Perreault, Jr. and McCarthy 2006, p. 34). Jobber (2010, p. 841) argued
that, “the essential elements of product, promotion, price, and place remains, but three
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additional variables- people, physical evidence and process-are included produce a 7Ps mix”.
In our case study, we match with product, promotion, price, place and people in 7Ps mix.
7.1. Product
Product strategy is an important factor in the manufacturing process of Vinamilk. Fresh milk
will be a main product development of Vinamilk now and in the future. Diversify brand and
model is important. Product for rural market must be built or modified to suit the lifestyle and
needs of the rural consumers.
Vinamilk with slogan "Belief Vietnam” it affirmed the value of true belief in the hearts of
consumers. One of the keys to a brand is a success will be building trust with rural
consumers. Building brands through social activities such as scholarships Vinamilk,
incubating young talent, and milk fund for poor children... In action program, we have
mentioned activities on the occasion of the new school year, this is the way to introduce the
Vinamilk’s brand to students and parents in rural and small town area.
Small size packings- low per capita, non-availability of regular pay forces the rural consumer
to buy small packets of various. These kinds of products are put on the market with different
sizes like 110ml, 220ml, and 1l to meet the demand of all customers in rural and Ural of
Vietnam..
7.2. Distribution
Applying the intensive distribution channel, Vinamilk builds more intensive distribution in
rural areas, small towns.. Philip Kotler (2012, p. 449) argued that, “ push strategy – a
promotion strategy that calls for using the sales force and trade promotion to push producer
promotes the product to channel members who in turn promote it to final consumers”. In
contrast, pull strategy is “spending a lot on consumer advertising and promotion to include
final consumers to buy the product, creating a demand vacuum that pulls the product through
the channel” (Kotler 2012, p. 449). However, Vinamilk combines two basic promotion mix
strategies: push and pull strategy
Once Vinamilk entering a rural market has determined what type of distribution network it
should use, creating an effective distribution network logistics. Vinamilk should be able to
build out a custom distribution network with relatively low risk. Vinamilk will procure 900
vans and 46 warehouses and began distributing to 600,000 retail outlets.
Especially, develop many small retailers in rural market. They are trusted brands in
themselves, have power in helping consumers decide which products to purchase rural
customers need. If consumer goods want to sell “fast”, Vinamilk should be placed products in
the village-retailer level. Rajendran Ananda Krishnan (2012) “the dominance of the retailer in
rural markets are some of the important factors responsible for the smaller range of products
available at retail shops in rural”
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In addition, Benjamin Neuwirth (2012) says that “due to their proximity to the local
community, consumers and retail shop owners often form close relationships, further
cementing the power of the retailer in product recommendation”.
7.3. Price
Maturity product definitely needs a suitable price strategy to boost the sale and expand more
market share. The price setting method is based on 3 specific parts called 3C: cost, customer,
competitors (Kotler, P. 2009). In Vinamilk case, we apply the competitors pricing strategy; it
means that “price to match or beat competitors” (Philip Kotler and Kevin Lane Keller 2009,
p. 288).
When the current product enters to new markets. Holding pricing strategy is used to apply for
fresh milk. The price of fresh milk is 31,000 VND/ 4 boxes of 180 ml. However, research
shows that TH Milk pricing is higher than Vinamilk, averaging 28,500 VND / 4 boxes 180
ml. Suitable for approaching the potential customers and expand the market share in rural
areas and small towns.
Product Mix Pricing Strategies
Vinamilk are going to apply product line pricing, optional-product pricing and product
bundle pricing strategies.
Price adjustment strategies
Discount
1. Quantity: the first discount method aims to the Vietnamese family’s demand where
mothers often choose health care product for their family and child. By purchasing a
barrel of fresh milk, price will be reduced than purchasing retail cyclone milk.
2.
Cash: cash discount will not be used for our product in the whole market. It only
discounts cash for retailers who provide our product only. Through this method, the
relationship will be improved and our product can expand in larger markets.
7.4. Promotion
Marketing communication mix (promotion mix)
Shimp, T. and Andrews, J. (2013, p. 12) stated that, “integrated marketing communications
is the coordination of the promotional mix elements (advertising, public relation, sales
promotion, personal selling, direct marketing and online marketing/social media) with each
other and with the other elements of the brand marketing mix such that all element speak
with one voice”.
7.4.1. Advertising
Advertising is one of the most popular mediums that make consumers aware of the product or
service we are offering. Dr. Ahmed, A. (2013, p. 58) written that, “Traditional media or the
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modern media used for rural marketing is being used by companies. The traditional media
include puppetry, folk theatre, etc. while the modern media includes TV radio”. Similarly,
Vinamilk will fund for the program, traditional activities in rural areas. In addition,
advertising on TV, internet with uniform image: the cow cute, but beautiful, natural-based,
full of vitality.
Especially, rural events, wall paintings, community programs, street plays, fairs or
advertising in targeted publications can be built around them.
7.4.2. Sales promotion
Creates word-of-mouth opportunities: Promotions can often get your regular
customers, which gets them to talks about our product to their friends. Offer free
sample to potential customers to attract their attention.
Event entertainment program during the day and evening of dance music for children
on Sunday. Admission is 02 votes in the program are available in milk cyclone. (1
cyclone / votes)
2 cyclone milk buyers will be 01 vote in the program.
Consolidating relationship between Vinamilk and the households, the Company has
implemented the program “Accumulate points with Vinamilk to greet Spring and Tet
holidays”
Segmented Pricing Strategies
Time pricing: apply premium hour from 6:30AM to 7:30AM from Monday to
Saturday in school, daycare to attract customer.
Promotional pricing: partnership with supplier through lobby method in orders to
receive the better raw material and brings a barrier to competitors.
7.4.3. Public Relations
Vinamilk has been actively working in the field of social and humanistic community. Not
only contributes to soothe the pain and help those in difficult circumstances, Vinamilk also
actively bring the community fun and useful social knowledge in life. Nutrition advice online
free for parents on forum of Vinamilk website, it regularly updated information on child
nutrition. Especially with the undeveloped plains, Vinamilk should have education programs
in schools or at the district and commune for mothers. Game show programs at schools,
daycare, and playground when introducing products
The strategy to reach customers more frequently and friendly, Vinamilk will be more
community-oriented programs in the future.
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7.5. People
“Because of the simultaneity of production and consumption in services, the firm’s personnel
occupy a key position in influencing customer perceptions of product quality” (Jobber 2010,
p.845). Vinamilk based on the interest level of people. In addition, “the key to success of
every organization is to create a working environment and culture that attract, unite and
motivate every employee. Together with vision for growth and scale expansion, an attractive,
dynamic working environment that satisfies expectations of our stakeholders and especially
employees play an important role in the overall development strategy of Vinamilk”
(Sustainable development report, 2013). We identify the level of satisfaction by results of
employee surveys and other opinion receiving channels. It ensue six aspects in Figure 4
Figure4. Working environment
8. Implementation control
8.1. Marketing
metrics
We have only limited data, but we can still piece together a basic budget plan in first-year
objectives using sales forecast (700 thousand of liter) and the noted costs. Based on the
current business situation and expected market conditions, production plann ing business in
2014 as follows
Profitability statement for Vinamilk’s product (VND)
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April-October/2014
Revenue
21.584.000.000
Cost of Goods Sold
17.556.000.000
Gross margin
4.028.000.000
Marketing cost
1.350.000.000
Advertising
950.000.000
Promotion
350.000.000
Marketing research
150.000.000
Fixed cost
2.300.000.000
Net profit
378.000.000
*Revenue and Cost of Goods sold can see the Appendix 6
8.2. Organizing
for implementation
“Marketing organization provides the context in which marketing implementation takes
place: companies may have no marketing departments, those that do may have functional,
product- based market-centred or matrix organizational structures” (Jobber 2010, p. 795).
Vinamilk’s structure is product-based organization. Figure 5 shows the structure of
marketing organization, including marketing director, sales manager, marketing manager
(advertising manager, promotion manager, marketing manager education, marketing
research manager). It was assigned to the separate departments; suit every task functions
of marketing.
Figure 5. Vinamilk’s marketing organization
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9. Monitoring and control
Glyn Littlewood stated in his lecture in 2012 that there are four types of marketing
control: annual control, financial control, productivity control and strategic control.
Controls help Vinamilk assess result after implementation step and marketing evaluation
to be sure that it is achieving Vinamilk’s objectives.
Financial control
Use appropriate credit policy to increase revenue include: targeting credit, building
credit conditions, calculate the effective credit policy. At the same time, incorporating
policies sold debt for debt recovery policy in the shortest time. Therefore, measures
typically Vinamilk using is sales, profit and ROI. Especially, Guzman (n.d) reported
that “return on investerment (ROI) models also serve as a point of comparison
between different investment opportunities”
Contengency planning
-
The facilities in the rural areas is poor, limited to distribution. Therefore, it is
necessary to calculate the investment objectives as well as the process of
concentrating investments in a clear.
-
For distributors: Products, discounted to create better conditions as well as support for
the prices to distributors, such as the type:
+ The orders can reduce production costs and freight
+ Commercial discounts
+ Payment discount
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