PHÂN TÍCH CHIẾN LƯỢC MANG LẠI THÀNH CÔNG CHO VINAMILK TABLE OF CONTENT Page I PREFACE II GENERAL INTRODUCTION OF VINAMILK 1 General introduction………………………………………………………… 3 2 Vision, Mission and core value ………………… .………………………………4 III ANALYZE THE STRATEGY BRINGING THE SUCCESS FOR VINAMILK 1 External environment……………………………………………………………… 7 2 Internal Environment……………………………………………………………….8 3 Marketing strategy…….……………………………………………………… ,10 3.1 Strategy of the price ……………………………………………………… ….10 3.2 Strategy of the products……………………………………………………….11 4 Promotion strategy ….………………………………………………………… 15 4.1 Advertisement.…………………………………………………………………15 4.2 Sale services…………… 16 4.3 Public relationship……………………………………………………… 17 IV CONCLUSION………………………………………………………………….18 Page 1 of 19 I PREFACE In the current general economic crisis phase of the world in general and of Vietnam in particular, many domestic enterprises have encountered the difficulties of the product consuming market of the capital mobilization etc Thus, numerous enterprises have fallen into the reduction status of the growth speed, the severe reduction business profit, even many of them going lost in many years result to the bankruptcy of re-structuring Vinashine, Vinaline etc, especially the small and moderated sized enterprises However, some enterprises, based on the proper proposed strategy, have overcome the crisis and got the stable strength In the scope of this topic, VINAMILK is chosen as one of the enterprises to continue to gain the successes by the management board’s long term vision and build up the correct development strategy II GENERAL INTRODUCTION OF VINAMILK 1 General: Việt Nam Milk Company (Vinamilk) was established in 1976 under the name of Southern Coffee- Milk company at 10 Tân Trào, Tân Phú ward, district 7, HCM city During the development process, after many reforms, Vinamilk becomes the Vietnam milk joint stock company in 2003 and gets the current charter capital of 8,340 billion VNĐ The transaction name in English is VIETNAM DAIRY PRODUCTS JOINT STOCK COMPANY abbreviated as Vinamilk The company has been sealed on Ho Chi Minh city Security transaction Floor on 19 January 2006 (transaction code: VNM) Currently, State capital Investment and Trade Corporation (SCIC) has got the ratio of 45,1% of the charter capital of the company Page 2 of 19 Figure 1: Shareholders’ structure (Source: Website businessman world, http://s.cafef.vn/ ) Vinamilk is the top enterprise of the milk processing industry accounting for 75% milk market shares in Vietnam Vinamilk products include the fresh milk, yoghurt, condensed milk, powder milk, nutritious powder, ice- cream, kinds of soft drinks With the diversification of the products, Vinamilk has currently got over 200 items of sterilized milks, pasteurized milk and products made from the milk On 31/12/ 2013, Vinamilk has the network of 266 exclusive distributors and over 224,000 retail points in Vietnam Vinamilk products have been exported to 26 countries like America, France, Canada, Poland, Germany, Middle-East area, , ASEAN etc After 37 years since establishment and to 31/12/ 2013, Vinamilk has invested 12 plants, 2 enterprises in which Vietnam Children’s powder milk plant has been operated on 22 April 2013 and the whey plant constructed by Tetra Pak Group – Sweden in Binh Duong has been operated on 10 /09/ 2013 Vinamilk is promoting to construct the milk factory in Cambodia 2014 During 17 years, from 1997 to 2013, Vinamilk is consecutively selected by the Vietnamese consumers association as the high quality Vietnam commodity Vinamilk joins the charitable activities, social affairs in the fields: Establishing Vietnam peaking milk fund, providing the milk for all the children under the difficulties; setting up Vinamilk scholarship fund “Fostering the young talented”; building up the fund of 1 million of green plants for Vietnam and financing the solar energy lighting system at the island named Côn Đảo At present, Vinamilk has got the 68 th rank of the world biggest top 100 of the milk enterprises The target of Vinamilk in the next stage is to reach 3 billion USD in the year 2017 and reach Top 50 of the world milk enterprise Figure 2: Annual turnover (Source: website Vinamilk) 2 Vision, mission and core values Page 3 of 19 2.1 Vision It becomes the trust symbol No 1 of Vietnam for the nutritious products and healt serving the person’s health 2.2 Mission Vinamilk commits to bring the community the best nutrition, quality by the respect, love and the high responsibility to the life of the persons and society 2.3 Core value * Integrity: Integrity, honest in the behavior and all transactions * Respect Respecting ourselves, colleague; the company, partners and make cooperation in respect * Fairness Fair to the staffs, customers, suppliers and other related partners * Compliance Comply with the law, the regulation of behaviors and the regulations, policies and the rules of the company * Conduct Respect the established standards and make action in the ethics 2.4 Business philosophy Vinamilk desires to become the favorite products in every area, territory Therefore, we trust that the quality and creation are the friends always together with Vinamilk Vinamilk regards the customers as the center and commit to meet any customer’s demand 2.5 The quality policy Always being satifsfied and bearing the responsibility with the customers by diversifying the products and services assuring the quality, food sanitation safety with the competitive price, respecting the business ethics and complying the specified law 2.6 Business target The business target of the company is to maximize the value of the shareholders and pursue to the business development strategy based on the following key factors:  Strengthen, build up and develop a system of the strong brands to meet the best of the demand and the consuming philosophy of the Vietnamese consumers Page 4 of 19  Develop Vinamilk trade mark into the most reliable and prestigious, scientific nutrition brand to the Vietnamese people by the strategy of applying the scientific studies of the specific nutrition demand of the Vietnamese people to develop the best product for the Vietnamese consumers  Invest and expand the business production by the market of the soft drinks which are healthy to the consumers by the key brand of VFesh to meet the fast increasing consuming tendency to the soft drinks from the nature and be good for the person’s health  Strengthen the system and the distribution quality to reach the market shares at the markets in which Vinamilk has the low market shares, especially at the rural areas and the small urban areas;  Exploiting the power and prestige of Vinamilk brand as the “ most scientific and reliable nutritious” brand of Vietnam to account for at least 35% of the market shares of the powder milk market shares within 02 next years  Concentrate into the key business as the milk production: Focusing on 04 key items including whey, condensed milk, powder and yogurt At the same time, it is to make expansion to the products of the solf-drinks good for the health and to improve the common profit rate of the whole company like fruit juice, soybean milk etc  Find the investment opportunity outside to ensure the stability and safety of the source of the raw materials and develop the export market  Continue to improve the management capacity of the supply system Based on the long term master business target as mentioned above, Vinamilk sets up a specific target to the year 2017 of reaching the turnover of 03 billion USD and reach Top 50 of the biggest milk production companies of the world III ANALYZING THE STRATEGY IN BRINGING THE SUCCESS FOR VINAMLIK 1 External environment  The milk branch is a high stable branch and gets less impact by the economic fluctuation (O1) Page 5 of 19  The state supporting policy in encouraging the breeding and procession of the dairies (O2)  The negotiation capacity of the supplier: The big diary companies are benefitable to the raising person in procuring the milk as the raw materials (O3)  The negotiation capacity of the purchaser: Once the input raw materials increases, it is possible to increase the sale price accepted by the consumer (O4)  The demand, psychology of the milk product consuming in Vietnam are stably increased Together with the economic strength, the consumer takes care of the health and use of more products , especially the powder milk, whey and yogurt (O5)  Vietnam milk branch has the potential of the raw material milk for production  The income per capita of Vietnam is of the low-average level  The current consuming tendency takes care for the samples, product packages  The nutritious demand for the children is cared The consuming demand of the fresh milk will be ever increased together with the ratio of the over- population  In addition to the factors forming the product prices like the milk price of the raw materials, the production cost, packing, profit of the processors, retail distributor, the tax policies, the taste, the psychology attached by the sale price with the product quality, tendency for choosing the most expensive item of the Vietnamese consumer contribute to increasing the price of the milk product  The input raw material price is increased ever and always fluctuates and hard to predict ( T1)  The competition between the companies is high: True Milk, Hanoimilk, Abbott, Mead Johnson, Fieslandcampina…(T2) In 2012, the fresh market share of Vinamilk makes up to 45,5% of the Vietnam market, taking the first rank Fiesland campina takes the 2 nd rank with 20,4% of the market shares As for the powder milk, the market share of Abbott takes the first rank with 24%, Vinamilk accounts for 19% taking the 2 nd rank; Mead Johnson and Fieslandcampina together account for 14% taking the 3rd rank etc  The psychology of the foreign product usage of the Vietnamese consumer is still high ( T3) Page 6 of 19  There has not been an efficient management raising model The foreign imported material source causes the price of various milk to increase ( T4) 2 Internal environment  Vinamilk has confirmed the position in the milk branch as the biggest milk company of the whole country accounting for 37% The plant scale is the biggest in the whole country with the total current capacity of 504 thousand tons/ year getting the output of 70% The position of the branch head of the company is supported by the good construction brand (S1)  The capital source of Vinamilk is very big In addition, the investment plans are actively carried out by Vinamilk even in the capital source Before, Vinamilk almost has not made any loan because it has the profit and efficient re-investment to withdraw the capital fast (S2)  The product list is diversified and strong The product list is over 200 items and the products from milk (S3)  The distribution network and sales appear largely It is to develop and control the retail points The figure is the development of the market shares In the whole country, there are approximately 300,000 retail points in the milk trade Vinamilk has accounted for about 160,000 points The plan for 03 next years of Vinamlik is to cover all 300,000 points (S4)  Make the sustainable relationship with the supplier ensuring the reliable milk source (S5)  The study and development capacity follow up the market orientation (S6)  The good management experience is proved by the the sustainable trade activity (S7)  The big capacity production plant has the equipment and technology meeting the international standards; Vinamilk has currently got a milk production plant in New Zealand and 10 modern milk production plants in the country scattered from North to South and run 100% of the capacity In order to serve the strategy for the developing Page 7 of 19 acceleration, Vinamilk will inaugurate 02 world top modern milk processing plants in the beginning of the quarter II – 2013 with the total investment capital of about 4,000 billion VND (equivalent to 200 million USD) the first ” Super-plant ” in Binh Duong at the phase 1 for 400 million of milk liters / year, the capacity equivalent to 9 current plants of Vinamilk; the phase 2 will increase the capacity to 800 million of milk liters/ year This plant is totally auto with the robot operation The second plant specializes in producing the children’s powder milk of Dielac 2 in Việt Nam – Singapore industrial park purchased by Vinamilk from F$N with the capacity of 54,000 tons/ year This is the two modern key projects serving the increasing target of Vinamlik inaugurated into the 38th anniversary ceremony of the country liberation day on 30 April 2013  With such a big production capacity, Vinamilk has made the big production scale to take advantage of the the economics based on the scale Thanks to it, Vinamilk can reduce the product price, the more consistent quality (S8)  The input raw material sources have not been active Meanwhile, the input raw materials of Vinamilk include: various milk powders of 100% imported raw materials, the fresh milk with 100% of the domestic raw material, sugar mainly applied for the domestic products; the powder milk imported from Europe, New Zealand, America, Australia and China The so much dependence into the imported raw materials has caused the milk production to encounter many difficulties and the business results are affected when the price fluctuation occurs (W1)  The manpower source is not stable and fluctuates especially for the intermediate management level (W2)  The results brought from the marketing has not matched the investment Marketing activities are mainly concentrated in South while North has not got the strong investment (W3)  The competition from the international investors with the high strength Thus, Vinamilk has to continue to widen the business production activities, marketing etc to ensure the market shares (W4) 3 Marketing strategy Page 8 of 19 The analysis of the internal and external environmental factos shows that the opportunities are (0), risk (T), strength (s), weakness (W) of Vinamilk Based on the analysis of these weaknesses, it is possible to see the success of the strategies conducted by Vinamilk 3.1 Price strategy Vinamlik carries out the police of the long term price stabilization Currently, the market price of Vinamilk as maintained is only to get 1/3 of the foreign milk price and lower compared to the domestic production competitor , especially the first competitor Duthch Lady With the current milk price, Vinamilk accepts the profit reduction or makes offset from the trade of many different product currents to share the burden of expenses with the consumers but it is totally not lost In addition, the company still carries out some policies of the price as follows:  The more expensive policy to get the better quality By improving the milk product which is higher to the nutritional value than the current products when the valuable current products are positioned in mind of the consumers Thus, the positioning of the new product is totally convenient – These products symbolize the higher, more private living style like Dielac to Dielac Alpha with the first milk of colostrums  The policy to keep the price as it is but its quality is higher Vinamilk applies this policy for the sterilized milk and yogurt product currents  In the condition of keeping the price as it is for the input raw materials to increase Vinamilk still joins the program of the price stabilization for the consumer of the whole country In order to carry out the strategy of the price stabilization but ensuring the profit for the shareholders, Vinamilk has negotiated the low price level of the milk purchase in the country (compared to the purchasing price of Duthch Lady) At the same time, Vinamilk has developed the plan of its diary farms To the year 2015, it is to try to ensure about 45-50% of the raw materials as self-supporting portion and in 10 coming years, the replacement will be done relatively Vinamilk attaches importance of the efficient value chain to balance the price stabilization and the profit for the shareholders The further increasing value by the main Page 9 of 19 operation factors has helped the product value to increase but the product price does not fluctuate so much 3.2 The strategy of product 3.2.1 Product diversification: Vinamilk products are diversified and abundant to the categories with over 200 milk items and the products from the milk: Condensed milk, powder milk, nutritious powder, fresh milk, yogurt, cheese and other products: Soy bean milk, fruit juice, cakes, soluble coffee, bottled drinking water, tea, soluble chocolate However, Vinamilk also attaches importance to the most used products, rejecting the non-beloved products and improving the product quality Figure 3: Profit structure, 2012 (Source: Website businessman world, http://cafebiz.vn)  The fresh milk (whey): Accounting for 34.9% of the turnover Starting from the ever increasing consumption demand of this product, Vinamilk has centered the development into the fresh milk segment when the increasing speed of this group reaches 39.0%/year in the phase 2006-2011 In the year 2010, the sales turnover of this group of the products reached 5,077.6 billion VND accounting for approximately 1/3 turnover Only in 08 years, the contribution of this group over total turnover has remarkably been increased Since 18,9% (2003), it increases 32.2% (2010) Aware of the consumer of the profit of the ever increasing sterilizing milk, on July 7/2010, Vinamilk has brought up the sterilized product currents to the market The sterilized milk can get no lasting time of usage like traditional UHT sterilzied milk However, the nutritious factors of this product are well-protected and its taste is better Page 10 of 19 This has created more attraction At this segment, Vinamilk once more time faces Duthch Lady together with other famous brands like TH True Milk, Hanoimilk, Long Thành, Mộc Châu and some imported brands However, Vinamilk still gets the fixed advantages including ownership of the strong brand, getting the supply source of the domestic fresh milk (about 50%), possessing the distribution channels largely bringing the products to the consumers punctually; the system of the modern processing plants in Vietnam has helped Vinamilk to reduce the transportation cost Thanks to these advantages, the company has accounted for 45% of the market shares for this segment  The powder milk and nutritious powder makes up 26.2% of the turnover The key consuming objective of this segment is the young-born children, children, the woman under the pregnancy, the breeding women and the older persons At this segment, Vinamilk has chosen the lower segment compared to the product current of Dielac and Ridielac with the so much cheaper price compared to the foreign milk brand As a result, Vinamilk has currently keeping the interval of 20% of the market shares for this segment  Yogurt: Accounting for 19.9% of the turnover Before, the yagurt is usually self-processed at home or produced in some small foundations and Vinamilk is the first big company to change the pattern above Vinamilk is known as the box yogurt which is not only rich in the nutrition with many good tastes, but the price is reasonable as well The yogurt is known day by day as one of the best foods for the health and beauty Kinds of yogurts contain a necessary volume of useful bacterium, protein and other popular nutritious substances Therefore, many people is well aware of the health, especially the woman converting the yogurt into their daily foods Vinamilk almost accounts for the exclusive advantage of the yogurt This is easy to recognize at the shops as well as the supermarket and currently, Vinamlik has made up 90% of the market shares of the yogurt Condensed milk: 16.9% of the turnover 3.2.2 Improving the product quality Vietnam Milk joint stock company – Vinamilk has signed the international cooperation with the three top European partners including DSM Group- Swiss, Lonza company- Swiss, Page 11 of 19 Mr Hansen group- Denmark specializing in studying, developing and applying the science of micro-organics, pro-biotic With this cooperation program, Vinamilk has been applying the specific nutritious demands of Vietnam children helping to improve the physical features, height for the Vietnam young generation in the future In addition, Vinamilk has made the comprehensive cooperation with International Nutrition Institute of investigating the nutrition status at Vietnam Children and then, focused to study and develop, improve the product lines to meet better the nutritious demand for Vietnam Children These co-operations have marked a new height of Vinamilk in the scientific nutritious study for Vietnam Children in particular and Vietnam milk branch in general At the same time, this is a strong commitment of the Vietnamese milk brand to the Vietnamese consumer in bringing the efficient nutrition solution, ensuring the food sanitation safety This is the first step to help Vinamilk to carry out the ambition to develop a modern study center according to the international standard to accelerate the developing speed of the specific and new milk formula for Vietnam children This will create the trust with users to enable the goods consumption to become faster In order to reach this target, Vinamilk continues to focus on producing the milk and widening the further development of the soft drinks which are healthy to the consumers It is to continue to strengthen and widen the distribution system: Establishing further the retail points; increasing the covering level of the product distribution As for the market shares, it is to continue to invest and widen the plants, optimize the capacity of the existing plants, constructing newly the processing plants with the most advanced technology At the same time, it is to increase the quantity of the dairies at 05 existing dairy farms and search further the new domestic and foreign dairy farms While the market has too much labels of the fresh milk and reclaiming milk, the consumers are undecided to select a quality product Vinamilk has brought up the commitment “100% sterilized fresh milk” with the strategy of the very competitive price at the time of the milk price increasing in the phase 2008-2009 The marketing strategy of “Yogurt is the essential food for the health” is successful to help the Vinamilk yogurt product to increase unpredictably The condensed milk line is brought to the market with 1 liter box to facilitate the consumer and cut down the unnecessary advertisements Thanks to it, the product turnover Page 12 of 19 still rises fast The soy bean milk product line of V-fresh – “ the living source from the motherland” of Vinamilk also increases spectacularly with 25% market shares as the most rapid developing brand of Vietnam in the year 2009 3.2.3 Packing design The current consuming tendency attaches importance to the labels, product packages Grasping this tendency, Vinamilk has been decided to spend the cost on the package investment Anyhow, with this strategy, they loss the advantage of the sales price Compensating this, the turnover increases more strongly and the consumers remembers more the brands Each product line of Vinamilk tries to create the customers of the familiar awareness by a signal in mind when they observe the goods purchase at the counter The grain green color or the white color usually attaches the kind of the milk butter, less fatness and less cal With the target of strengthening the brand of the milk product, Vinamilk has rejected the milk line splashed on the glasses and the child licks excitedly but comes back and uses the picture of the real milk to go into mind of the consumers It is to apply the images of the Swiss mountains full of sun and purity where the cows appear on the fresh grass field Viewing this image, it is possible to image Vinamilk milk bringing the fresh and better life The launching of the Vinamilk milk “ one hundred percent fine milk” does not create the difference of the color and images compared to the competitive group, but also the imagination of the color and image symbolizing the quality That is the fine and great taste The new launching results of the 100% fine and fresh milk has created the welcome from the consumers and reached the exceeding sale turnover 4 Promotion strategy Page 13 of 19 4.1 Advertisement The company has carried out the strategy of advertising, marketing strongly to the domestic consumer, for instance, talking to the effect of the milk Vinamilk has set up the image “ Mother’s love” for the powder milk product taking the feeling of the consumers or launching the advertising strategy, comprehensive marketing for the yogurts like an essential drink for healthy to every objective as the objective to make the yogurt demands to increase unpredictably In particular, Vinamilk has chosen the dairy to access the customers The image of the dairy on the package of Vinamlik has become familiar to the Vietnamese people, especially the children Almost any child can sing “ we are the happy dairies” in the milk advertisement of the company Vinamilk uses the leveling strategy of the brand in developing the new products For instance, Vinamilk has used the prestige of the brand in the field of the milk to widen the new related product line like yogurts, cream, cheeses and gain many successes When talking to the milk, we can imagine the white color Therefore, the advertisers have applied this color to introduce their products, transferring the information by images, colors in which their products want to introduce In addition, the green color symbolizes the nature showing the fine nature like a natural gift assigned to the consumers The application of these two colors as a prevail has created the success with the consumers reminding them to remember a totally natural 100% fine and fresh milk of Vinamilk The so much spending of the budgets for the advertisement cost making the frequency cover and appear by the Vinamilk advertisement on TV channels at the high level has created the remarkable efficiency 4.2 Sale services The structure of the sale cost of the year 2012 of Vinamilk Page 14 of 19 Figure 4: Structure of the sale cost of 2012 (Source: Website Businessman world- http://cafebiz.vn) The consuming branch in general and food in particular are always required for the strong cost spending for the activity with the costs reserved for the advertisement, promotion, setting up the distribution system etc Vinamilk is one of the biggest company of the food branch and the sale cost of the company is “ huge” In the year 2012, the sale cost increases 29,4%, from 1,812 billion to 2,346 billion VND accounting for almost the sale cost as the cost for the advertisement, promotion and support of the distributors In the structure of the sale costs, the promotion cost has reached the biggest cost, with 463 billion VND In 2011, in stead of the advertisement increase, Vinamilk has increased double the cost for the promotion from 268 billion to 502 billion VND Meanwhile, the advertisement cost in the year 2011 reduces from 485 billion VND to 400 billion VND With the strong spending of sales cost, in the year 2013, net turnover of Vinamilk get 31,586 billion VND, increases 16.5% compare to 2012 turnover The turnover and sale cost (billion VND) of Vinamilk by the years are as follows: Page 15 of 19 Figure 5: Turnover and sale cost by the years 2007- 2013 (Source: website of Vinamilk) 4.3 Public Relationship Vinamilk builds up the sustainable brand by concentrating into the product quality and programs oriented to the community During many past years, Vinamilk is known as the top enterprise orienting the community together with the social charitable activities, typically as follows: - Receiving of the call of Vietnam Fatherland Front Committee of the whole country oriented to the people at Middle- North suffered from the storm No 10, from 12 to 15 October 2013, Vinamilk has visited, gifted to the residents under the strong suffering of the storm No 10 at the provinces of Quảng Trị, Quảng Bình, Nghệ An and Thanh Hóa Total cost for this relief is 1.3 billion VNd ( in cash) Among them, the relief delegation has visited, gifted the poor persons, the affected persons due to the storms at uảng Bình of 700 million VND As for Lộc Thủy town, Lệ Thủy district (Quảng Bình), the homeland of General Võ Page 16 of 19 Nguyên Giáp 100 million VND As known, this is the contribution amount of a salary day of the whole staffs, agents in Vinamilk company - Vinamilk also spends many billion VND to support the peoples in the storms at the middle land areas and Highland areas to overcome the difficulties, loss of the persons and assets Every year, Vinamilk spends billions of VND on the charitable works and the community development, especially the contribution, construction of "Vietnam reaching milk fund ", "Fund of 01 green trees for Vietnam ", " Vinamilk scholarship fund – Fostering the Vietnamese young talented “ etc among them, "Vietnam reaching fund " has got 75 billion VND so far with over 300,000 children drinking the milk free The scholarship fund of "Vinamilk fosters the Vietnam young talented ", with over 19 billion VND reserved for the primary school on the whole country This fund is coordinated with ministry of Education and training conducted from the year 2003 until now "Fund of 01 million of green trees for Vietnam " also reach billions of Vietnam Dong etc In addition, Vinamilk still takes care of, raises all the life of Heroic Vietnam Mother at Ben Tre and Quang Nam etc In order to carry out well the social responsibility, the community, Vinamlik desires to be supported, respect and being always with Vinamilk shareholders, suppliers, partners, customers and consumers IV CONCLUSION With the right strategy, concentrating into the product made from the milk meeting the demand of the market with the high profit value; always strengthening the brand, renovating the forms, packages; proactively constructing the dairy farms for the input raw materials, Page 17 of 19 improving the technology to improve the product quality according to the international standards; exploiting the ultimate local markets and concurrently widening the foreign markets etc, Vinamilk company in general and Vinamilk leaders in particular have ensured the right steps in carrying out the long term target, the proposed plans This has shown the strategy management works at Vinamilk has been conducted very efficiently That is the basis why Vinamilk is the top brand in the milk industry of Vietnam and it is possible to say that the fact Vinamilk proposes the specific target of the year 2017 to become one of 50 biggest milk companies in the world is totally to get the basis BIBLIOGRAPHY: 1 Strategic Management – PGSM Business School; 2 John Thompson; Frank Martin 2010, Strategic Management: Awareness and change, 6th edition, South-Western, UK; 3 Website of Vietnam Milk joint stock company - http://vinamilk.com.vn/; 4 Vinamilk – Annual report 2013, 2012, 2011, 2010; 5 Website of Businessman world - http://cafebiz.vn Page 18 of 19 ... objective of this segment is the young-born children, children, the woman under the pregnancy, the breeding women and the older persons At this segment, Vinamilk has chosen the lower segment compared... design The current consuming tendency attaches importance to the labels, product packages Grasping this tendency, Vinamilk has been decided to spend the cost on the package investment Anyhow, with... 19  There has not been an efficient management raising model The foreign imported material source causes the price of various milk to increase ( T4) Internal environment  Vinamilk has confirmed