A strategic market research for Valio LTD. : Vietnamese powdered milk market analysis
Pham Duy, Quang; Chau, Trinh (2015)
Turun ammattikorkeakoulu
2015
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201503173257
https://urn.fi/URN:NBN:fi:amk-201503173257
Tiivistelmä
Valio Ltd, a Finnish owned dairy producer, is the market leader and guardian of Finnish healthy lifestyle. Beyond the success in European market, the company is now aiming to other destinations in Asia. Vietnam, an emerging market in Southeast Asia with large population, has a great demand for dairy products as well as other consumer goods. It is estimated to be among the 20 biggest milk importers in the world, and the amount of powdered milk imported is increasingly high.
This study, commissioned by Valio Ltd, is an initial attempt to investigate the potential of Vietnamese dairy industry by undertaking a specific research on powdered milk market as well as the consumer purchasing habits and product interests, based on which the company may have proper strategies for its business expansion later on. To achieve this goal, an external analysis of the country, the powdered milk industry and consumer behaviors are entirely studied on.
The market research was conducted using both qualitative and quantitative methods, based on deductive approach. With a theoretical framework provided in the literature part, secondary data was collected from academic reports, articles and other legal documents; meanwhile primary data was obtained from interviews with expert and a consumer group, a survey on consumer habits and authors’ own observations to analyze the market for the empirical section.
By way of conclusion, Vietnam is a very fast developing market where the consumption of powdered milk products is emerging. Likewise, the demand for new powdered milk as well as free lactose products is also favorable these days. Although there are evitable obstacles and challenges the company should take into consideration prior to making the internationalization, this market has many advantages that may not be found in other countries. Finally, the authors positively recommend Valio to expand its product portfolio to this promising destination.
This study, commissioned by Valio Ltd, is an initial attempt to investigate the potential of Vietnamese dairy industry by undertaking a specific research on powdered milk market as well as the consumer purchasing habits and product interests, based on which the company may have proper strategies for its business expansion later on. To achieve this goal, an external analysis of the country, the powdered milk industry and consumer behaviors are entirely studied on.
The market research was conducted using both qualitative and quantitative methods, based on deductive approach. With a theoretical framework provided in the literature part, secondary data was collected from academic reports, articles and other legal documents; meanwhile primary data was obtained from interviews with expert and a consumer group, a survey on consumer habits and authors’ own observations to analyze the market for the empirical section.
By way of conclusion, Vietnam is a very fast developing market where the consumption of powdered milk products is emerging. Likewise, the demand for new powdered milk as well as free lactose products is also favorable these days. Although there are evitable obstacles and challenges the company should take into consideration prior to making the internationalization, this market has many advantages that may not be found in other countries. Finally, the authors positively recommend Valio to expand its product portfolio to this promising destination.