MINISTRY OF FINANCE

UNIVERSITY OF FINANCE – MARKETING

FINAL GROUP REPORT

PRINCIPLES OF MARKETING

ANALYSIS MARKETING STRATEGY

OF TH TRUE NUT

CLASS: IP_21D04
COURSE CODE: 2231910004204

TEAM MEMBERS’:
Nguyễn Thị Kim Thùy – 2121013676
Huỳnh Hy Ngọc – 2121013922
Dương Nguyễn Thảo Vy – 2121002839
Trần Thị Hương Thanh – 2121002861
Ho Chi Minh City, December 14th

1
 TABLE OF CONTENTS

SECTION 1: INTRODUCTION ........................................................................................................ 5

1. Background of TH Group ....................................................................................................... 5
2. TH true NUT .......................................................................................................................... 5
SECTION 2: SITUATION ANALYSIS ................................................................................................. 5
1. Internal environment: ............................................................................................................. 5
1.1. Vission and mission.............................................................................................................. 5
1.1.1. Vision .............................................................................................................................. 5
1.1.2. Mission ............................................................................................................................ 6
1.2. Meaning of brand’s name ..................................................................................................... 6
1.3. Business situation ................................................................................................................ 6
1.3.1. Growth rate ...................................................................................................................... 6
1.3.2. Market share .................................................................................................................... 6
2. Competitor ............................................................................................................................. 6
2.1. Direct competitor ................................................................................................................. 7
2.2. Indirect competitor ............................................................................................................... 7
3. Macroenvironment ................................................................................................................. 7
3.1. Political............................................................................................................................... 7
3.1.1. Foreign Policy .................................................................................................................. 7
3.1.2. The policy of the economy and the dairy industry .................................................................. 7
3.2. Economic ............................................................................................................................ 8
3.2.1. Inflation rate..................................................................................................................... 8
3.2.2. GDP ................................................................................................................................ 8
3.2.3. Income ............................................................................................................................. 8
3.3. Sociocultural ....................................................................................................................... 9
3.3.1. Demographic:................................................................................................................... 9
3.3.2. Culture ............................................................................................................................ 9
3.4. Technology ........................................................................................................................ 10
3.4.1. The level of investment in the R&D industry by the state ...................................................... 10
3.4.2. Technology transfer trends and speed ................................................................................ 10
3.4.3. The development of technology equipment and supporting software ...................................... 10
3.5. Legal................................................................................................................................. 10
3.6. Environment...................................................................................................................... 10
2
 3.6.1. Climate .......................................................................................................................... 10
3.6.2. Protecting environment .................................................................................................... 11
SECTION 3: SEGMENTATION, TARGETING & POSITIONING STRATEGY ............................. 11
1. Segmentation ........................................................................................................................ 11
2. Targeting ............................................................................................................................. 12
3. Positioning ........................................................................................................................... 12
3.1. Positioning Map (Perception map)....................................................................................... 13
3.2. Product differentiation ....................................................................................................... 13
3.3. Image differentiation .......................................................................................................... 13
SECTION 4: PLANNING THE MARKETING MIX (4PS) STRATEGIES ....................................... 14
1. Product strategy: .................................................................................................................. 14
1.1. Product quality .................................................................................................................. 14
1.2. Branding ........................................................................................................................... 15
1.3. Label and logo ................................................................................................................... 15
1.4. Packaging ......................................................................................................................... 15
1.4.1. Primary packaging .......................................................................................................... 17
1.4.2. Secondary packaging ....................................................................................................... 17
1.4.3. Tertiary packaging .......................................................................................................... 17
1.5. Product support services ..................................................................................................... 18
2. Price strategy ....................................................................................................................... 18
2.1. Overview of price ............................................................................................................... 18
2.2. Price strategy ..................................................................................................................... 19
2.3. Comparing prices ............................................................................................................... 19
3. Place strategy ....................................................................................................................... 20
3.1. Intensive distribution strategy ............................................................................................. 20
3.1.1. Direct distribution: TH true MART.................................................................................... 20
3.1.2. Indirect distribution ......................................................................................................... 20
3.1.3. Online platform............................................................................................................... 21
4. Promotion strategy ............................................................................................................... 21
4.1. Advertising ........................................................................................................................ 21
4.1.1. Advertising message ........................................................................................................ 21
4.1.2. Advertising media ........................................................................................................... 21
4.2. Public relations (PR) .......................................................................................................... 22
4.3. Sales promotion ................................................................................................................. 22

3
 4.4. Digital promotion ............................................................................................................... 22
5. SWOT.................................................................................................................................. 23
6. Recommendation .................................................................................................................. 24
6.1. Product ............................................................................................................................. 24
6.2. Price ................................................................................................................................. 25
6.3. Place ................................................................................................................................. 25
6.4. Promotion ......................................................................................................................... 25
SECTION 5: CONCLUSION .......................................................................................................... 26
GROUP MEMBERS' WORK ASSIGNMENT TABLE .................................................................... 27
REFERENCE LIST ........................................................................................................................ 29

4
SECTION 1: INTRODUCTION
Experiencing the difficult period of the COVID-19 epidemic, consumers are gradually turning to a green
lifestyle along with sustainable consumption - spending for the health of themselves and their families.
TH true MILK has captured the thoughts and aspirations of consumers when launching high-end product
lines. The nut milk product series TH true NUT with a pioneering position has affirmed its quality not
only with domestic but also on par with international products. However, facing fierce competition,
despite the mass communication strategies TH true NUT has struggled with asserting the outstanding
value of the product is worthy of the supposedly higher price than competitors.
1. Background of TH Group
TH true MILK - established in 2009 – produces products made from milk such as fresh milk, nut milk,
and ice cream, ...
Madame Thai Huong – founder and chairwoman of the Strategic Council of TH Group, is a pioneer in
"clean milk" products with high-tech applications systems, setting the record of “The world’s largest
concentrated high-tech dairy farms with closed production process.”
2. TH true NUT
TH true NUT nut milk products launched on the 17th of March 2018 play a pioneering role in the nut
milk market in Vietnam. TH wrote the miracle of the nutritional revolution, with the perfect combination
of nutritious grain sets and fresh milk from nature. The launch of the nut milk product series is the idea
of a better life every day that we send to you in the form of TH true NUT nut milk.

SECTION 2: SITUATION ANALYSIS

1. Internal environment:
1.1. Vission and mission
1.1.1. Vision
Our TH Group aims to the road towards sustainability and puts effort into:
Provide the best quality, safe, natural, and organic products.
Be a global leader in industries that we operate in, contributing to societies with products and services
that truly enable people to live happy and healthy lives.
Build a sustainable future for generations to come in harmony with Mother Earth and in harmony with
the people and communities on our planet.
Create healthy and self-sustaining corporate “ecosystems” guided by circular economy principles.
Apply advanced technology and biotechnology techniques that serve to deliver our “Nature Guaranteed”
promise.

5
1.1.2. Mission
TH Group always attempts to nourish Vietnamese stature and soul by providing truly natural products
from nature - clean, safe, fresh, and nutritious.
Through that, TH has set out five core values of the Group:

1.2. Meaning of brand’s name

With the spirit of “Treasure Mother Nature, who bestows us everything,” the TH brand’s name “TH True
Happiness” reflects giving and serving priceless values to do communities a favor.
1.3. Business situation
1.3.1. Growth rate
Despite the COVID-19 pandemic situation, in the first 6 months of 2021, TH's e-commerce channels
increased growth by more than 90% compared to the same period in 2020.
Net profit reached 319 billion VND in 2017, and 450 billion VND in 2018. In a 4-year period from 2014
to 2018, the business's net profit has risen to 15 times.
1.3.2. Market share
The graph shows the rate of market share in 2020

2. Competitor
TH True MILK entered Vietnam's dairy market in 2009 when many well-known competitors in the
market such as Vinamilk, Moc Chau, and Dutch lady...

6
2.1. Direct competitor
Vinamilk is the strongest competitor which has been
established for 50 years and has made a positive impression
on the mindset of consumers. Vinamilk is the largest dairy
market share in Vietnam and constantly expanding. The price
of Vinamilk’s nut milk products is almost 2 times cheaper
than TH's.
2.2. Indirect competitor
TH and Vinamilk are both direct competitors for nut milk and indirect competitors for pasteurized and
fresh milk. Furthermore, large fresh milk companies such as Dutch Lady, Moc Chau or Nutifood all have
quality products of European standards with low prices, which have won the trust of consumers before.
Therefore, indirect competitors will threaten the market share of TH's fresh milk industry.
3. Macroenvironment
3.1. Political
Vietnam, a socialist country, is one of the most politically stable countries in Southeast Asia which
creates favorable conditions for businesses to develop the economy.
3.1.1. Foreign Policy
Prime Minister Pham Minh Chinh affirmed that Vietnam is steadfast in its foreign policy of
independence, self-reliance, diversification, and multilateralization of foreign relations; proactively and
actively integrates into the world comprehensively and deeply; is a friend, a dependable partner, and an
active and responsible member of the international community.
3.1.2. The policy of the economy and the dairy industry
The government has offered a number of programs to assist the milk sector in running its company.
Vietnam's government decrease the foreign trade barrier to attract more investment.
In addition, since 11st of January 2007, Vietnam has become the 150th of member the WTO organization.
Vietnam’s role in the international arena has been enhanced, creating favorable conditions for
Vietnamese firm to improve exports. Vietnam has opened its market to many types of goods with
gradually lower tax rates.

7
3.2. Economic
3.2.1. Inflation rate
In the first 6 months of 2022, CPI increased by an average of 2.44% compared to the same period last
year, this is a success in controlling inflation in Vietnam while rising inflation in the world.

Data collected by the Financial Times from official statistical sources and from Refinitiv shows that
compared with China and some countries in Southeast Asia, Vietnam has a relatively low inflation rate

3.2.2. GDP
The growth of GDP in 9 months in 2022 is highest between 2011 and 2022. GDP growth reached 8.83%;
estimated at about 8% for the entire year (target is 6-6.5%).
3.2.3. Income
In the 1997 to 2021 period, Vietnam ranked in the
seventh position overtaking Myanmar, Cambodia, and
Laos. Its average income per capita reaches USD 3,560
annually. High income and quality of life have led to an
increase in consumer spending.

8
3.3. Sociocultural
3.3.1. Demographic:
When analyzing the macro environment, demographic is one of the most crucial factors in deciding the
target market segment, marketing strategy of the company as well as consumer behavior.
Regarding geographic shifts, between 2019 and 2021 the percentage of the urban population has
increased from 35,05% to 37,12%. However, the population in rural areas still has a sizable proportion
about 62,88% (2021).

Besides, although the birth rate in Vietnam is not high and the population structure tends to be ageing,
TH should pay attention to the young population which accounts for a large percentage have high buying
power,
Nowadays, in Vietnam, it appears a new lifestyle which was followed by a lot of young people - A green
lifestyle - sustainable living which makes eco-friendly choices and preserves Earth's natural resources
and habitats.
In addition, after the Covid-19 pandemic, customers seem to change their spending habits that more
planned and reasonable expenditures. They prioritize quality products with reasonable prices, as well as
hunting for promotions and discounts... to put aside money.
In Vietnam, people also pay more attention to protecting their health by changing their diet. A new eating
trend today is a plant-based diet – consuming foods that come from plants. In Vietnam, the survey shows
that 79% of Vietnamese people have changed their diets: foods with less sugar, less fat, and consuming
more fresh foods to prevent diseases.
3.3.2. Culture
Affected by the East Asian cultural sphere, Vietnamese people take a lot of traditional minds. Most of
them have already trusted some certain products and stuck with that brand for a long time. Furthermore,
they have a foreign-favored mindset – products that come from abroad are better than domestic,
especially dairy products. However, in recent years, with the promotion of domestic brands with the
slogan "Vietnamese high-quality goods", people have gradually trusted domestic products, creating
favorable conditions for businesses to develop products – high-quality goods with reasonable prices.

9
In oriental culture, parents also realize the importance of children's stages, so they always add milk daily
to enhance the child's stature. Moreover, the Vietnamese believe that nuts such as walnuts, almonds, and
macadamia ... bring a lot of nutrition and prevent many diseases.
3.4. Technology
3.4.1. The level of investment in the R&D industry by the state
Decision No. 3399/QD-BCT on approving the development planning of Vietnam's dairy processing
industry in 2020, with a vision for 2025. The objective of the Master Plan is to build Vietnam's dairy
processing industry to develop towards modernity, sustainability, cleaner production, thorough waste
treatment, and food hygiene and safety. Besides, the industry will continue to invest in new and expand
existing production facilities to meet domestic consumption demand and spend a part of export.
3.4.2. Technology transfer trends and speed
Production machinery is becoming more and more modern, causing businesses in the dairy industry in
Vietnam to enhance equipment and technology to increase their competitiveness. Many manufacturing
plants are equipped with modern equipment, creating products that receive the trust of domestic
consumers, or more broadly, the world.
3.4.3. The development of technology equipment and supporting software
Technological equipment in milk production enterprises such as water treatment systems, sterilization
systems, and filling and packing systems... today has been greatly improved. Modern technology
contributes to improving product quality, packaging, ensuring hygiene, reducing production costs, and
reducing labor costs.
3.5. Legal
According to the recently signed EVFTA Agreement, the import tax on milk and dairy products from the
EU will be gradually reduced according to the roadmap from 5 - 15% to 3.5 - 0% for many products such
as milk and ice cream, not concentrated and not containing added sugar or products containing natural
ingredients of milk…
Besides, decree 3399/QD-BCT approves the development plan for Vietnam’s dairy processing industry
until 2020, the vision of 2025. It helps reduce raw material costs – expand cow farms, create large self-
sufficient raw materials as well as increase competitiveness, and proactively integrate with the region.
3.6. Environment
3.6.1. Climate
Despite the hot and humid weather, the natural environment is relatively favorable for the growth of dairy
farming, particularly in the provinces of Tuyen Quang, Lam Dong, Nghe An, and Son La.

10
3.6.2. Protecting environment
On June 17, the International Union for Conservation of Nature (IUCN) in collaboration with the Institute
of Strategy and Policy on Natural Resources and Environment (ISPONRE) under the Ministry of Natural
Resources and Environment (MONRE) and TH Group launched the Alliance for Conservation of Nature,
Business Alliance for the Environment (VB4E). Becoming one of the three founding members of VB4E,
TH Group has once again demonstrated its pioneering and inspiring role on the journey to "Cherish
Mother Nature"

SECTION 3: SEGMENTATION, TARGETING & POSITIONING STRATEGY

1. Segmentation
For TH true NUT, its market segmentation involves three categories - geographic, demographic,
psychographic.
Segment Demographic Psychographic Geographic
Adolescent Age: 10-19 Lifestyle: Urban cities
Gender: female dynamic lifestyle
No income or low
income
Early Age: 20-35 Lifestyle: Urban cities
adulthood Gender: female healthy, busy
Life-cycle stage: way of life
single or Personality:
newlywed, careful,
married with enthusiastic,
young children creative,
Income: low dynamic,
income,
financially
independent
Middle Age: 35-65 Lifestyle: healthy Urban cities
adulthood All genders or relaxed way of
life

11
 Life-cycle stage: Personality:
married with older caring, gentle,
children mature
Income: stable,
middle income
Late Age: above 65 Lifestyle: healthy Urban cities
adulthood Gender: female or relaxed way of
Life-cycle stage: life
married with
Personality:
mature child
family-oriented
Income: pension
people

2. Targeting
TH True NUT’s market strategy is concentrated marketing with the following characteristics: female
customers aged between 20 and 35 years old who are either young single or young married with children.
They are likely to have healthy and busy lifestyles as well as careful, enthusiastic, and dynamic
personalities. In addition, those who often live in urban cities, especially in two major cities (Ho Chi
Minh and Hanoi) want more highly nutritious and beneficial physical and mental health products.
The first reason that TH targets this market segment is because this is a group of people who are
financially independent, they can buy high-priced products to take care of themselves and their families.
Secondly, young people, especially females, pay attention to physical and mental health such as skin
care, and nutritional supplements, …For married with children, they care about improving the mental
and physical strength of their children.
3. Positioning
TH true NUT has successfully positioned the word “clean” in the mindset of customers with the slogan:
“Completely from nature,” “The essence of nature in every drop of clean milk”

12
3.1. Positioning Map (Perception map)

3.2. Product differentiation

Making good use of the competitive advantage from the concern about chemical ingredients and the
competitors has not yet positioned themselves with the motto of clean, with the motto "Make a good cup
of milk with a mother's heart”, TH has always positioned dairy products by "clean” and “completely
natural" milk. As previous TH’s products, TH true NUT still focuses on “preserving the true value of the
grain” with premium nuts such as walnuts, almond, macadamia and natural sweetness from dates.

3.3. Image differentiation

TH defines the Group’s interests in line with the country’s - a patriotic business corporation. Therefore,
the activities of TH true MILK always aim at 5 core value “For public health”, “Truly natural”, “Fresh,
tasty and nutritious”, “Environmentally friendly - Innovative thinking” and “Harmonization of interests”.
By bringing positive values to the community such as donating 46 billion VND to the Vaccine fund
during the Covid-19 period and building a sustainable lifestyle - contributing to environmental protection
and joining hands with consumers to cultivate a "green" lifestyle.

In addition, the logo image also shows the difference in TH's positioning as "True Happiness". The
program “School milk” or “Joining hands for Vietnamese stature” represent the desire of TH true MILK
to bring the most “natural” and "real" milk to everyone.
13
Positioning statement of TH true MILK is “To consumers who need a better life every day, TH True
NUT is nut milk product series that is made completely from nature with a combination of nutritious
grain sets and the natural sweetness of the date fruit to bring a healthy way of life through improving
mental and physical health, positive energy, and perfect figure.

SECTION 4: PLANNING THE MARKETING MIX (4PS) STRATEGIES

1. Product strategy:
TH has released six different flavors:

Nuts and Turmeric

Nuts and Gac Nuts and Whole
fruit Grain Red Rice

Macadamia Nut Walnut Milk

Almond Milk
Milk

1.1. Product quality

By capturing customers' insights, TH always wants to satisfy those desires fully, the company has
invested in the world's leading modern technology lines to ensure that dairy products are produced
cleanly and safely.
High-quality nuts - the main ingredient of this nut milk was selected, soaked the seeds, then ground and
filtered to get the extract mixed with clean fresh milk and others, undergoing a homogenization process
chemical, sterilizing, and filling the box. Currently, the walnuts used to produce TH true NUT are
imported from the United States, the macadamia nuts from Australia and South Africa, and the dates are
obtained from gardens in West Asia.

14
Especially, TH true NUT uses the sweetness of the date fruit instead of cane sugar or chemical sugar.
Alternative sweet taste has a lot of benefits such as helping easily digested, containing antioxidants, anti-
inflammatory, and building up resistance.
TH's dairy products have met the standards of the ISO 22000:2005 and ISO 9001:2008 food safety
management systems issued by the international organization BUREAU - VERITAS and obtained the
Product Certificate of Conformity with Technical Regulations issued by the National Institute of Food
Safety and Hygiene - Ministry of Health.
1.2. Branding
Brand name: TH true NUT
TH stands for “True Happiness” based on the core value of "For public health" and True Milk is
understood as “Clean milk.” TH has made significant efforts to brand milk by putting the company’s
massage "Completely from nature" on most. With the name TH True NUT, the company has emphasized
the nut milk product series with the same positioning. Besides, the name TH True NUT which is also
associated with the outstanding features of the product easy to remember as well as makes a deep
impression on consumers' minds.

1.3. Label and logo

TH stands for “True Happiness with wish of bringing the most “natural” and "real" milk to everyone.
The word “True” represents Fresh - Clean - Natural Essence. Drinking TH true MILK is your true
happiness every day. The star is the flower of the earth, representing the Vietnamese Fatherland (Golden
Star).
1.4. Packaging
Today's consumption trend focused on product design and packaging. Two manufacturers, Tetra of
Switzerland and Combibloc of Germany produce TH’s packaging to ensure sufficient production of

15
packaging when demand is high and to prevent strong problems during production, on high-tech lines to
protect the products inside (quality, taste, and nutrition).
Tetra Pak Box

Size Length Width Height

110ml 48mm 32mm 85mm

180ml 48mm 38mm 120mm

SIG Combibloc

Size Length Width Height

110ml 51mm 37mm 72mm

180ml 51mm 37mm 115mm

The place to plug straws: Tetra Pak packaging straws are plugged in the corner and Combibloc
packaging straws are plugged into the middle.
Bottom of packaging: Tetra Park packaging has two folds at the bottom of the box, and Combibloc
packaging has only one straight fold. Both are shown the name and logo.
However, TH true NUT only uses SIG Combibloc company's packaging

16
The activities of designing and producing the container or wrapper for the product be divided into three
layers: primary, secondary, and tertiary.
1.4.1. Primary packaging
On the first layer of packaging – the milk carton has full information
about the product: company name, place of manufacture, production
date, expiry date, ingredients, and nutritional content, helping
buyers be assured of quality.
The product packaging has a harmonious combination of white and
the color of the nut such as the box of walnut milk will be white and
brown, or the box of turmeric milk will be white and yellow. Product
names and logos are prominently printed with a bright golden font
to create a highlight.
The packaging material - designed in a rectangular shape - is made from paper with silver-plated inside
with three sizes, type 1 is 110ml and type 2 is 180ml, and type 3 is 1liter. All packages of TH true MIK
are packed in 6 layers of sterile paper to prevent the entry of harmful bacteria and avoid rapid product
spoilage, so products can be stored at room temperature for 6 months, which do not use preservation.
1.4.2. Secondary packaging
Outside the primary packaging, a white plastic layer group
four products to create a stock-keeping unit. This second layer
serves as a shipping container for small shipments which will
provide supplementary protection to help maintain the
integrity of the primary packaging.

1.4.3. Tertiary packaging

With the outermost layer of packaging: the staff will pack the
product in a cardboard box with the logo and image of the
corresponding milk when buying products at TH true Mart.
Cartons make it easier and safer to transport heavy loads, it also
helps to reduce damage.

17
 1.5. Product support services
To maintain a long-term relationship with customers, TH Group has set up a professional, thoughtful
customer care system to bring trust to customers when choosing products from TH. Currently, customer
care activities of TH true MILK:
Nutrition counseling programs for the company's customers
Regular promotions with attractive incentives for customers
Special care programs with benefits exclusively for priority customers.
A professional team for home delivery service.
2. Price strategy
2.1. Overview of price
The price of TH true NUT at the TH true MART is a fixed selling price set by the company: 49,000
VND/lot (4 boxes of 180 ml), and 54,000 VND/box of 1L.

18
However, some retailers have different prices such as supermarkets, stores, and grocery stores such as
Co. opmart, Winmart, and BachhoaXanh,.

A pack of four boxes

A Liter 48 boxes (180ml)
(180ml)

Co. opmart 51,600 VND

Win Mart 53,500 VND 636,500 VND

Bachhoaxanh 52.000 VND 58.000 VND 620.000 VND

Mega Market 49,500 VND 55,000 VND 638,500 VND

2.2. Price strategy

When the product was first launched, TH true NUT pricing its products as a high-quality product line,
so TH chooses a market skimming price strategy (the highest possible price) and psychological strategy.
Besides ensuring profits for themselves, also to position the initial image of the product, the brand has
made an effort to consumer psychology in the interaction relationship between price and quality - hitting
the heart. The reason is that consumers think "higher price, better quality products", a high price is to
confirm its guaranteed quality. The result is that consumers quickly accept and trust this "nut milk"
product, even though its price is higher than other types of milk. Furthermore, the target segment of TH
true NUT is people who have healthy lifestyles, want to find clean products, and with middle income.
2.3. Comparing prices
The high price has always been TH True NUT which makes it challenging to reach the low-income
classes that make up a considerable proportion of customers in Vietnam. The price of TH’s nut milk is
almost two times higher than that of Vinamilk, therefore, this makes it harder for TH True MILK to
compete with Vinamilk.

A pack of 4 boxes A liter 48 boxes

Vinamilk 28,000 VND 350,000 VND

19
 TH True MILK 49,000 VND 54,000 VND 620,000 VND

3. Place strategy
After production stages, the TH true NUT products are distributed widely to final consumers through
different channels.
3.1. Intensive distribution strategy
TH true MILK uses an intensive distribution strategy – stock products in as many outlets as possible.
Consumers find it easy to buy nut milk products in multichannel: direct distribution, indirect distribution,
and online platforms.
3.1.1. Direct distribution: TH true MART
TH true MART is a retail chain established by TH true MILK. Currently, TH true mart has more than
300 stores throughout Vietnam. This is considered a quite different direction for "clean fresh milk"
products, to give better convenience to consumers, most stores are located near many schools and offices
in big cities. TH's store chain gives consumers a feeling of trust and prestige. TH focuses on building a
chain of TH true mart stores in central locations, easy to find, and convenient for shopping.
3.1.2. Indirect distribution
TH’s products are distributed through some intermediaries. Some large retailers like supermarkets such
as Aeon mall, E-mart, Mega market, Vincom, … and convenience stores such as Circle K, 7 eleven, Win
Mart, …The advantage of this channel group is the network of thousands of outlets across the country,
with great consumption. However, the level of competition on the shelves is extremely fierce.
1. Distribution channel level 1:

Retailer
TH True NUT (Supermarkets, Customers
Grocery Store,…)

2. Distribution channel level 2:

TH True NUT Agency Retailer Customers

20
 3.1.3. Online platform
Besides, consumers can shop online on the website www.thtruemart.vn or TH eLIFE app: orders are sent
to the operation center of TH True MILK, and order-receiving staff will check the information the
customer has filled in and call the customer or send an email to confirm that the customer's order has
been placed successfully. Then, choose the nearest distribution center or TH True Mart store to transfer
the goods to the customer in 48h and free ship (more than 300 thousand VND).
TH also places its products on E-commerce: Lazada, Adayroi, Shopee, and Facebook... with attractive
promotions.
4. Promotion strategy
Building good customer relationships call for more than just developing a useful product, pricing it
attractively, and making it available to target customers. TH true NUT also engages consumers and
communicates its value propositions to customers through the promotion mix.
4.1. Advertising
4.1.1. Advertising message
TH has built a brand story and the main advertising message throughout the product line, for TH true
NUT, was successful to attract customers’ attention through “TH true NUT - Completely from nature”.
Besides, TH true NUT brings health messages to consumers that emphasize the nutritional value of high-
quality nuts. “An innovative yet scientific-based combination of nutrition among walnut, macadamia,
gac extract, fresh milk from TH farm and natural sweetness from dates, for a better health of the whole
family”
In addition, the song TH true MILK in its advertisements, TH true MILK makes consumers remember
the brand name and convey the message about the quality and benefits of clean dairy products.
Especially in all of TH true NUT's ads, transmit positive tones, which make consumers feel positive
energy through each image.
4.1.2. Advertising media
Not only meaningful messages but also TH True
MILK has launched a promotion campaign
through a lot of media. Broadcast TVC on TV
channels VTV3, VTV1, VTV6, HTV7, and
SCTV2...with pictures of the clean milk
production process. A traditional marketing
channel with the Vietnamese people brings high
efficiency when reaching a large number of

21
viewers, thereby helping the brand spread the media message by accomplishing advertising objectives
such as informative, persuasive, and reminder adverting.
TH also promotes advertising outdoors such as digital billboards in some public places (schools, bus
stations, supermarkets, and hospitals...)
4.2. Public relations (PR)
With the core value of public health, TH's PR activities are
always associated with social benefits, community
development, and encouraging the development of children
in order to build a positive brand that engages with the public.
TH is the pioneer of the "School Milk" program in schools
across the country; organizes the program "Joining hands for
Vietnamese stature". TH also is a sponsor of a lot of the
programs such as “Con đã lớn khôn,” “Lục lạc vàng”, …
With the motto “Cherish Mother Nature,” TH joins hands to
practice a green lifestyle close to nature, with a priority on
using fresh, clean, organic, and environmentally friendly materials. In order to encourage actions to
protect the environment, join hands to reduce waste, and spread a green lifestyle, TH true MILK. TH
Group organized a program to collect and recycle milk cartons at 20 TH true stores mart Hanoi and Ho
Chi Minh City from April 23 to June 5, 2022.
4.3. Sales promotion
TH has also promoted purchasing power by applying a lot of promotions such as discounts, coupons,
flashsale, … in both offline and online.

4.4. Digital promotion

Online advertising is a prominent trend that TH true NUT promotes their brands and products. On the
social networking platform, TH true NUT page - "Thức uống thiên nhiên từ hạt TH" which represents
22
the main message "Completely from nature" of nearly 19,000 likes and digital newspaper such as
VnExpress, Thanhnien, Tuoitre, … or website TH true MILK are effective ways to expand their reach,
find new customers and maintain the long-term relationships as well as introduce new products and sales
promotion to customers.
5. SWOT
STRENGTHS WEAKNESS
. A wide brand’s identity: high market share . The price of nut milk product is higher than a
. International standard quality competitor that is difficult to access low –
. Modern production process applying high income consumers
technology . Distribution channels concentrate on big
. Integrated marketing communication: cities, so it is difficult for consumers in rural
advertising, public relation, sales promotion, areas to buy products.
digital promotion . High–cost production systems
. Product quality: using the sweetness of date . The milk flavor is quite bland compared to
fruit instead of cane sugar or chemicals sugar the taste of Vietnamese people who prefer the
. Diversified distribution channels: direct (TH robust flavor
True Mart) and indirect (supermarket,
convenience stores...), online flatforms
. Environmentally friendly packaging
. Stable investment

OPPORTUNITIES THREATS
. More and more people follow a healthy . Consumers have a foreign-favored mindset
lifestyle . Fiercely competitive market: a lot of
. Customers are willing to pay more for healthy competitors in both domestic and foreign
and nutritious products (such as Vinamilk)
. Consumer’s belief: higher price, better . Customers change spending habits that more
quality product and nuts such as walnuts, sustainable and reasonable expenditure:
almonds, and macadamia ... bring a lot of demand higher quality products.
nutrition and prevent many diseases . Consumers want the price of products to be
reasonable and to reflect the right quality.

23
 . Decreasing imported tax that led to increase
competitors and the cost of raw materials.

6. Recommendation
6.1. Product
TH should offer more bag-type packaging to reduce packaging costs, thereby reducing production costs.
Because some consumers prefer to use milk bags rather than boxes because it is cheaper but still
convenient for carrying and serving other purposes such as preparation. Especially the bag form will not
need to use a straw to help protect the environment, just like the motto "Please cherish Mother Nature,
He will give you everything"
In addition, because of the natural sweetness, the milk flavor is quite bland compared to the taste of
Vietnamese people who prefer the robust flavor. TH should release different versions suitable for each
person
- Original: original taste like current products
- Extra sweetness: increase the sweetness from natural ingredients such as honey, coconut honey, ...

24
 6.2. Price
TH true NUT should enhance consumer perceptions of value with the psychology of “the better quality,
the higher price.” TH also maintains the same price at all distribution channels to avoid confusion about
where is the right price. Furthermore, a solution – adding bagged packaging – also reduces the price.
6.3. Place
TH should expand its distribution scale to more
locations and retailers such as grocery stores, and
rural areas in order to reach more customers and
increase brand awareness. Because some customers
prefer to shop closer to where they live. In addition,
TH true NUT also needs to build a profitable
relationship with intermediaries and retailers by
offering many trade discounts and promotions.

6.4. Promotion
TH true NUT should have an official account on TikTok – one of the most famous social media – to
update videos about introducing sales promotion, sharing recipes for making drinks from nut milk, or
promoting a green lifestyle, …
TH should also cooperate with some celebrities with positive influence such as Giang Oi, Dino logy,
Sunhyun, ... to better promote the brand to customers.
Sales programs should be combined with e-commerce sites such as Lazada, Shopee, ... to promote
stronger buying power on sale days such as 11/11, Black Friday, occasions, ...

25
SECTION 5: CONCLUSION
In a fiercely competitive market like the dairy industry today, an effective marketing strategy plays a
vital role in building and developing a firm. By analyzing environmental factors such as macro and micro
(internal, competitor), target customer segmentation and positioning strategy, and especially marketing
mix strategy (Product, Price, Place, Promotion) the analysis has clarified the SWOT model and made
recommendations for the TH true NUT line of TH true MILK. The result of the report contributed a
useful source to help TH true NUT better grasp the current state of its marketing strategy and implement
effective marketing plans.

26
 GROUP MEMBERS' WORK ASSIGNMENT TABLE

No Full name Scope of work Contribution

1 Nguyễn Thị Kim Thùy . Introduction, conclusion 100%

. Internal environment: business situation

. Macroenvironment (Economic, Sociocultural,

Legal)

. STP: Segmenting

. 4Ps: Promotion

. SWOT

. Recommendation: Promotion

2 Huỳnh Hy Ngọc . Microenvironment: Competitor 100%

. STP: Segmentation

. 4Ps: Product

. SWOT

. Recommendation

3 Dương Nguyễn Thảo . Macroenvironment 100%

Via
(Environment, Political, Technology)

. STP: Targeting

. 4Ps: Price

. SWOT

. Recommendation

4 Trần Thị Hương Thanh . Internal environment: vision, mission 100%

.STP: Positioning

27
.4Ps: Place

. Recommendation

. Reference List

28
 REFERENCE LIST
https://thgroupglobal.com/storage/attachment/6f93jIyyqy7YCPzbNzsqLb59tkQ4HrbbehJtM5j8.pdf
https://www.thmilk.vn/
https://www.thgroupglobal.com/page/founder
https://www.thmilk.vn/?s=th+true+nut
https://www.thmilk.vn/?s=gi%C3%A1+tr%E1%BB%8B+c%E1%BB%91t+l%E1%BB%97i
https://baotainguyenmoitruong.vn/th-dat-gia-tri-cot-loi-ve-thien-nhien-va-moi-truong-len-hang-dau-
293667.html
https://www.thmilk.vn/san-pham/
https://tienphong.vn/th-true-nut-tien-phong-chinh-phuc-thi-truong-sua-hat-viet-nam-post1019844.tpo
https://www.thmilk.vn/en/tien-phong-group-applied-solutions-of-raw-material-consumption-raw-
materials/
https://baochinhphu.vn/bo-cong-thuong-phe-duyet-quy-hoach-phat-trien-nganh-cong-nghiep-che-bien-
sua-viet-nam-den-nam-2020-tam-nhin-den-nam-2025-13-07-2010-10239425.htm
https://baotainguyenmoitruong.vn/th-true-milk-dua-cong-nghe-hang-dau-the-gioi-toi-du-an-sua-lon-
nhat-dbscl-320932.html
https://thgroupglobal.com/en/news/tap-doan-th-day-manh-cac-kenh-thuong-mai-dien-tu-cung-phong-
chong-dich-covid-19
https://www.thmilk.vn/en/th-true-milk-launched-the-second-project-of-dairy-processing-in-russia/
http://lyluanchinhtri.vn/home/index.php/dien-dan/item/4465-su-dung-mang-xa-hoi-trong-truyen-thong-
chinh-tri-o-viet-nam.html
https://e-magazine.asiamedia.vn/sua-hat-th-true-nut-dinh-duong-tot/
https://www.thmilk.vn/sua-tuoi-sach-trong-2-loai-bao-bi-hop-giay-chat-luong-quoc-te/
https://www.academia.edu/28703365/Phan_tich_ke_hoach_va_chien_luoc_kinh_doanh_cong_ty_th_tr
ue_milk
https://amis.misa.vn/30576/chien-luoc-kinh-doanh-cua-th-true-milk/
https://thgroupglobal.com/en/news/nu-doanh-nhan-thai-huong-va-khat-vong-phung-su-cong-dong-
gfat4ccu
https://www.avakids.com/me-va-be/so-sanh-sua-vinamilk-va-th-true-milk-co-gi-khac-1438656
https://123docz.net/document/9731311-xay-dung-ke-hoach-truyen-thong-marketing-cho-dong-san-
pham-sua-hat-th-true-nut.htm
https://mactoc.com/ba-thai-huong-chu-tich-hdqt-tap-doan-th-chung-ta-hay-tran-quy-ba-thien-nhien-
nguoi-se-cho-minh-tat-thay/
29
https://nhadautu.vn/co-gi-trong-ly-sua-th-true-nut--tan-binh-sap-gia-nhap-thi-truong-sua-hat-
d7586.html
https://www.dichvusieuthi.com/2019/11/he-thong-phan-phoi-sua-th-true-
milk.html?fbclid=IwAR2GVSiw7wCCVqbLeFIHsasT2YhjWlgwLJTbE3A9nf8gD1L2RhQf7qmYi1g
https://giaiphapmarketing.vn/chien-luoc-marketing-cua-th-true-milk/#PRODUCT_-
_CHIEN_LUOC_SAN_PHAM
https://megavietnamgroup.com/tap-doan-th-cung-cac-san-pham-tu-nhua-sinh-hoc
https://camnest.vn/chien-luoc-4ps-cua-tap-doan-th-nghe-thuat-chinh-phuc-thi-truong/
https://vietnamnet.vn/khoi-dong-chuong-trinh-quoc-gia-chung-tay-vi-tam-voc-viet-
195750.html#:~:text=T%E1%BA%A1i%20Vi%E1%BB%87t%20Nam%2C%20k%E1%BA%BFt%
https://baophapluat.vn/nhung-dieu-it-biet-ve-hanh-trinh-lam-sua-hoc-duong-cua-th-truemilk-
post316137.html
https://www.thmilk.vn/tap-doan-th-ung-ho-46-ty-dong-vao-quy-vac-xin-phong-chong-covid-19/
https://brademar.com/khach-hang-muc-tieu-cua-th-true-milk/
https://123docz.net/document/1526442-tieu-luan-nhan-dang-va-phan-tich-dac-diem-cua-cac-phan-
doan-thi-truong-muc-tieu-cua-dntmbl.htm

30