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With a view to helping the Hai Chau Confectionery Company to gain big market share in the severely competitive market, a study is conducted based on analysis of the company’s product strategy and its customer’s feedback. The study was approved by the head of the company’s R & D department.
Website: http://www.docs.vn Email : lienhe@docs.vn Tel (: 0918.775.368 SOLUTIONS FOR THE HAI CHAU CONFECTIONERY COMPANY’S PRODUCT STRATEGY TO PROMOTE CUSTOMER SATISFACTION Presented to The sales manager Sales department, the Hai Chau Confectionery Company Prepared by Vu Thi Thu Toan R & D department, the Hai Chau Confectionery Company October 25, 2009 1 Website: http://www.docs.vn Email : lienhe@docs.vn Tel (: 0918.775.368 TABLE OF CONTENTS EXECUTIVE SUMMARY………………………………………………………………3 INTRODUCTION……………………………………………………………………… 4 BACKGROUND……………………………………………………………………….4 ANALYSIS OF FINDINGS………………………………………………………… .5 ASSESSMENT OF THE COMPANY’S PRODUCT STRATEGY……………… .5 CUSTOMER’S FEEDBACK………………………………………………………….9 ABOUT PRODUCT QUALITY…………………………………………………….9 ABOUT PRODUCT PACKAGE………………………………………………… 9 IN COMPARISON WITH ITS RIVALS………………………………………… 10 RECOMMENDATIONS……………………………………………………………… 11 CONCLUSION………………………………………………………………………….11 REFERENCES………………………………………………………………………… 12 QUESTIONAIRE…………………………………………………………………… 13 LIST OF FIGURES Figure 1. Consumption results by category……………………………………………………….6 Chart 1. Product output by category ………………………………………………………… 7 2. Product proportion by category……………………………………………………… 8 3. Market share of some company in confectionery market in 2006 …………………….8 4. Customer’s feedback about the company’s product quality………………………… 9 5. In comparison with its competitors……………………………………………………10 2 Website: http://www.docs.vn Email : lienhe@docs.vn Tel (: 0918.775.368 EXECUTIVE SUMMARY With a view to helping the Hai Chau Confectionery Company to gain big market share in the severely competitive market, a study is conducted based on analysis of the company’s product strategy and its customer’s feedback. The study was approved by the head of the company’s R & D department. Conclusion of the report is based on information and data collected from the sales department of the company and a survey of 200 customers living around Hanoi. There are 4 main parts in the report: First, Background of the company, purpose of the study and source of data is mentioned. This part helps readers have an overview of the Hai Chau Confectionery Company and the reasons why the study is conducted. Second, through assessing implementation of the company’s current product strategy, achievements and shortcomings of the company are listed and analyzed. This is an important part support for giving suggestions for the company. Third, Customer’s feedback about the company’s products are discussed and analyzed in the form of figures and charts. From this, it is also easy for us to withdraw solutions for the company. Next, based on the preceded analysis, recommendations are given with some helpful solutions for the Hai Chau company. Finally, like every report this one is ended with the conclusion part, summarizing main points and repeated raised suggestions. On the basis of the findings, it is recommended that the Hai Chau Confectionery Company should promote its market research activities to support for meeting customer demand in production. Besides, the company must diversify more its category of products, combine well 4P-strategies in marketing, and export its products to foreign markets. 3 Website: http://www.docs.vn Email : lienhe@docs.vn Tel (: 0918.775.368 INTRODUCTION: THE HAI CHAU CONFECTIONERY COMPANY BACKGROUND The Hai Chau Confectionery Company, a state-owned company, specializes in producing and trading various kinds of confectionery and food stuff The company has been growing, but it has to compete with big rivals in the field such as: the Kinh do Corporation, Hai Ha Confectionery J.S.C, Bibica Corporation,etc. That requires the company to carry out effective product strategy to make it different from its competitors and to win customer’s confidence and stand firmly in the market. Therefore, a study looking into the current product policy of the company is significant. After being approved by the sales manager, a survey on the company’s product strategy and customer’s opinion are done. This study is conducted to analyze current product strategy of the Hai Chau Confectionery Company and assess feedbacks from interviewed customers in Hanoi about that strategy. Then, it focuses on finding out solutions for promoting customer satisfaction. In other word, the study seeks answers to these questions: ● How has the company implemented its product strategy recently? What are effects of the strategy on consumption situation of the company in the recent? ● Do the company’s products satisfy customers? ● What should the company do to promote customer satisfaction about its products in the future? Data for the report is collected from a survey of 200 customers of The Hai Chau Confectionery Company living around Hainoi city, current articles, and online resources. ANALYSIS OF FINDINGS 4 Website: http://www.docs.vn Email : lienhe@docs.vn Tel (: 0918.775.368 I/ Assessing Implementation of The Hai Chau Confectionery Company’s Current Product Strategy. 1/ The Company’s Current Product Strategy: In the research, the product policy of the company is reviewed. It reveals the followings: ▪ The company has renovated and modernized technology and equipment, mainly imported from Germany, Holland, Italy, Taiwan, China, and Korea supporting for producing high quality products. ▪ Product quality inspection of the company is carried out rigorously from the purchase of raw materials until the products are warehoused through technical staff. ▪ Target markets of the company are mainly markets in the Northern and Middle of the country, in which most of customers have low income. Thus, they like products with low price but high quality and modish, elegant packages. ▪ Target customers of the company are people of all ages but mainly have average or low income. ▪ The products are varied with 100 types such as: candies, biscuits, sandwiches, cream wafers, chocolate sweets of all kinds and iodized seasoned salt. Biscuit with ten different types, flavor and performances are well known and getting considerable share in the market. Cream wafer, chocolate coated cream wafer produced on German and Dutch production lines - one of the most modern technology in Vietnam, won Golden medals during International Trade Fair of Vietnam Industrial Products. Iodized seasoned salt is very essential in every Vietnamese family, produced as a result of the Vietnam-Australia National program of anti-insufficient disease lodine, can supply a certain amount lodine needed for the brain, health and physical development. Candy has been drawing a great attention and interest from customer by its newly appeared products in the market. Two new production line are enable Hai Chau to make 10 candy types of different tropical fruit favor such as Soft candy, toffee, chewy and hard candy with high quality and nice performance of all types. 5