Research on the recent movement of Vietnamese confectionery market and potential strategies for Hai Ha Confectionery Joint-Stock Company (HAIHACO)
Nguyen, Thi (2016)
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The purpose of this thesis is to give the audiences a solid report about the current status of the Vietnam Confectionery Industry in general. Currently, Vietnamese consumers tend to choose those imported products from foreign countries instead of buying Vietnamese products. The reason for this new trend is because those Vietnamese companies lack an understanding consumer wants and needs: low capital, out-of-date technology and old manufacturing chains, low productivity, unattractive packaging, poor quality products and conservatism in doing business. Furthermore, Vietnam is now trading openly with the world so those international brands and companies are entering Vietnam rapidly. This also means the competition between domestic and international companies will also increase dramatically. In conclusion, these Vietnamese companies in general and Haihaco, in particular, need to change themselves to catch up with the market trend: investing in manufacturing chains, Research & Development department, and in packaging and marketing campaigns. Never stop learning and absorbing from the world to prepare the best strategies in leading the market.