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Strengths
One of the key strengths of Vinamilk is its position as the market share leader in the dairy market in Vietnam. With a 39% market share, Vinamilk has established itself as a trusted and preferred brand among consumers. This success can be attributed to their strong branding efforts, effective advertising and marketing strategies, continuous product innovation to meet customer demands, and the longevity of the brand itself. Over the years, Vinamilk has built a solid reputation and deep understanding of consumer needs, allowing them to effectively target specific market segments and achieve their goals.
In addition to their strong branding, Vinamilk also boasts an extensive nation-wide distribution network.
This network plays a crucial role in reaching a large number of customers and effectively introducing new products and marketing strategies across the country.
As of December 31, 2009, Vinamilk's products were available through 240 distributors and more than 140,000 outlets in all 64 provinces of Vietnam.
Furthermore, Vinamilk offers a diverse range of dairy products catering to various consumer segments.
Their product line is divided into categories targeting specific audiences such as children, adults, and the elderly.
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By providing products in different packaging sizes, Vinamilk ensures that their dairy products are convenient and accessible to customers in the Vietnamese market.
Weaknesses
Despite having strong product lines such as fresh and powdered milk, Vinamilk also faces weaknesses in certain products like W-fresh soya milk, which struggles to compete with older brands like Fami. Issues related to taste and pricing need to be addressed in order to prevent products like V-fresh soya milk from facing the same fate as Vinamilk Coffee.
Opportunities
There are several opportunities for Vinamilk to capitalize on in the market.
Firstly, there is a positive trend among customers towards increased milk consumption due to growing health consciousness.
Milk products not only provide essential nutrients but also offer additional benefits such as vitamin C for skin health and calcium for bone strength. The versatility of dairy products allows for various usage options, appealing to a wide range of consumers.
Moreover, the increasing average income per capita in Vietnam has made milk and dairy products more affordable and accessible to the general population. Milk has transitioned from being a mere tonic to a staple beverage in many households, catering to different age groups and dietary needs.
Threats
One of the major threats facing Vinamilk is the highly competitive market landscape following Vietnam's commitment to the World Trade Organization (WTO). While WTO membership presents opportunities for market expansion globally, it also exposes companies like Vinamilk to intense competition from foreign brands. Vietnamese consumers have shown a preference for imported products known for their quality and effectiveness, despite the higher prices and limited distribution channels.
Vinamilk: Strengths, Weaknesses, Opportunities, and Threats. (2016, Apr 18). Retrieved from https://studymoose.com/swot-analysis-of-vinamilk-essay
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