Customer Perception Level Through Product Attributes

The market is dominated by technical and commercial barriers. The price of fish in An Giang is bought by enterprises at 14,600-14,800 VND/kg, while the production cost is 14,500-15,000 VND/kg. According to Mr. Nhi, in economic integration, farmers must produce and do business in compliance with market mechanisms. However, this issue is quite new to the majority of farmers, they are not fully equipped with integration skills, so they are always struggling when the market fluctuates. Two years ago, it was common for pangasius farmers to become billionaires, but now some of them have become debtors and have to leave their hometowns to find a living. Therefore, the number of fish farming households is currently very cautious and some accept outsourcing farming because they do not have enough capital to continue investing.

All of the above has clearly stated that the current situation is very difficult for businesses producing veterinary medicine for aquatic products and aquatic feed because people do not dare to raise fish for fear of "debt on debt". Faced with this difficulty, businesses must consider very carefully and seriously before making a specific decision. Also in this situation, building a marketing strategy is inevitable if businesses want to survive and continue doing business in this industry.

2.2.2.2. Target customer group

This is a particularly important factor because customers are the objects of production service and the target of the enterprise. Only by understanding customers, knowing what customers need and want in the product can the enterprise survive. Based on the survey conducted by the company in the past, the company's customers currently have two groups of customers: farm owners and agents. Including:

Core customers: agents.

Extended customers: fish tank owners, farm owners, customers who need to buy products.

Normally, core customers are customers who need to use the product, but in this case, the company chooses core customers as agents because agents have the ability to distribute large quantities of goods and have more secure payment ability. Moreover, the impact of agents on livestock households is very large, the company's ability to supply and store products is stable. However, customers in this category often run after discounts and are less loyal to the company. Therefore, to retain these customers, the company often has special preferential policies for customers such as 15 + 02, or increasing the discount percentage on invoices for

customers,… Through agents, the ability to meet the market demand of products is higher, moreover, investing through agents will help the company manage debt more closely, limiting cases of capital appropriation.

Understanding customer benefits

Rational benefits: customers buy high-priced, good-quality products that ensure safety for their fish ponds and the product's ability to treat diseases is high, the product has a clear origin, and has specific instructions. For customers who are agents, the company's products have high discounts, good product quality, acceptable prices -> easy to convince buyers to buy the product.

Emotional benefits: expensive products must have equivalent quality -> this is a good quality product, high treatment ability, shortens treatment time -> shortens farming time, helps farmers earn high profits. This also creates a good mentality for customers so that they will come back to the store next time.

Understanding customers, understanding the characteristics of the industry that the company is doing business, so in the past, the company has always regularly visited customers and organized customer opinion surveys through the form "customer opinion survey". However, these forms of the company often do not accurately assess customer requirements due to the interviewing techniques of the employees, these employees directly interview customers so the information is often subjective. Currently, the company has a market research department, it is thought that it should organize customer surveys in the most objective way so that the company can rely on it to have appropriate product strategies.

2.2.2.3. Product positioning

The Golden Bear brand has been developed for 10 years, positioned in a fairly average position with good product quality combined with a slightly higher price than the general market. The product is positioned as a mid-range product. The positioning slogan here is the slogan "Golden Bear, golden quality" as an affirmation of the product's class as well as its current position in the market - Golden Bear's products, good quality like gold. It is the company's commitment to product quality for customers, customers can rest assured when using the company's products. The company has used the logo printed with the image of a Bear combined with the main yellow color to print name cards for employees, make signs for customers, labels and packaging on

Each product to engrave in the customer's mind a Golden Bear with a thickness of quality products like gold.

Chart 2.2 : Customer perception level through product attributes

Golden Bear Height

Vemedim

Bio

Anova

Short

Quality

Price

Source: Sales Department Looking at the chart, we can see that the Golden Bear brand has a small market share compared to its three competitors: Anova, Bio, Vemedim. However, the price and quality of Golden Bear are on par with Bio, and higher than Anova. Thus, in general, Golden Bear products have high quality and high prices compared to competitors on the market.

school.

2.2.3. Marketing - Mix

2.2.3.1. Product strategy

In 1998, Golden Bear Company started operating and officially became a veterinary medicine distributor in Vietnam. And with the desire to expand the range along with the increasing demand of the aquaculture market, the company has become a supplier of aquatic veterinary medicine in the market. Currently, the company provides product lines such as: powdered medicine mixed with feed, injectable or oral solution medicine, high-grade biological products used in seafood, concentrated microbial food for chickens, ...

Golden Bear is a small business, so choosing a product strategy for itself is something that managers have to consider carefully. Understanding its weaknesses, the company has chosen a smart competitive strategy of avoiding competition.

directly with the big giants: Bio, Bayer, Anova, ... However, the company has focused on investing in product quality. In addition to improving the skills of staff and workers in direct production through training courses, the company also invests in technical equipment, specifically investing in production lines for liquid medicine, powder medicine and especially microbiological products. This is the company's strength, so the company has a strategy to focus on developing microbiological products.

Branding decisions

Up to now, for any company that wants to do business successfully, the brand name is very important. Along with the development of the brand, the business activities of the company will also be stable. That is why Golden Bear Veterinary Medicine Trading and Production Company Limited has chosen to name the product by associating the company name with the product such as: Gava Egg, Gavamix 9 new, Gavabio, ... taking advantage of the company's reputation to facilitate its business activities. At the same time, the company still applies a multi-brand business strategy by naming each product separately such as: Poly - Bac 1002, Hepatol B12, Spectilin 615, ... The product types are diverse, the dosage in powder and liquid medicine is high but the product specifications are large.

New product design

Due to rapid changes in technological tastes and competition, companies cannot rely solely on existing products. Consumers want and expect new and improved products. Competitors are also working hard to provide consumers with those new products. Therefore, companies must have a program to launch their new products. In recent years, Golden Bear Veterinary Medicine Trading and Production Co., Ltd. has launched veterinary and aquatic veterinary products such as: EB Men, Gavalafu, Dactycide, Anti CDR new 2000, etc.

Idea generation: The company gets ideas from customers by asking them for their opinions at group discussions organized by the company, through letters or complaints sent to the company.

Competitors: monitor them and find out what unique features of their products might attract buyers.

Industry experts: they can be creative and search for cool materials that will lead to creating completely new solutions or improvements to existing products.

Employees within the company.

Idea selection: based on criteria: scale, price, time, cost, etc. to avoid giving up a good idea and letting a poor idea develop.

Developing and testing product concepts: The product concept must be expressed in terms of the consumer's ideas.

Draft marketing strategy.

Design a product launch strategy. Describe the target market.

Product positioning.

Analyze production and consumption capabilities. Design products.

Check the market.

Commercialization: When does the company launch its veterinary and aquatic veterinary products? (before, after or simultaneously with competitors?) Where? For whom? How?

The company has a good product and service support system to provide customers with a complete product from quality, function, features to technical consulting and transportation services. To achieve this, the company has a team of professional technical, transaction and sales staff. The company's employees often participate in training courses on product operations and techniques, and the company regularly sends employees on business trips to learn about customers and the company's suppliers.

In general, Golden Bear products are well-known to many people, have a market share with high product quality, the strength is biological products. The product has a large size, convenient for large agents to buy, but livestock farmers cannot buy a large size product to treat a small amount of livestock, poultry, and aquatic products.

2.2.3.2. Pricing strategy

Pricing strategy is the only strategy in marketing strategy that can generate profit and is also the most effective competitive tool. However, the price must be commensurate with the company's brand position in the market. Currently, the prices of veterinary drugs and aquatic veterinary drugs are relatively stable and fluctuate little. However, in the current market economy, any company must build its own pricing policies, improve product quality and have its own appropriate strategy to increase sales volume.

Pricing depends on many goals set by the company. For Golden Bear Veterinary Medicine Trading and Production Company Limited, in general, the price of the product is relatively high compared to competitors in the market. The company's pricing policy is not clear, only partly promoting the sales process. The company does not apply discounts for customers when buying in large quantities, but is only flexible in calculating prices for new customers according to the company's regulations to attract customers and agents to the company with reasonable prices. In addition, the company also selects potential customers through sales staff, recommends to the Department Manager incentives for customers through a special incentive proposal based on customers with large sales, quick payment ability, good relationships, ... with the company.

Currently, most of the company's veterinary and aquatic veterinary products are subject to payment discount policies to quickly rotate the company's capital. Every year, in mid-December, the company sets out to develop a discount policy for customers, agreeing on the discount on the warehouse receipt for veterinary products at 12% and 16% for aquatic veterinary products. This is a direct discount on the invoice. As for the cash discount method in the month, the company applies it according to each level of collection in the month for customers signing contracts. Specifically, the discount for collection of money greater than or equal to 2 million is 2.0%, collection of money from 10 million or more is 3.0%, collection of money from 20 million or more is 4.0%, collection of money from 40 million or more is 5.0%, collection of money from 60 million or more is 6.0%. In addition, the company also applies a debt settlement discount policy with a discount rate of 2.0% for customers who pay a minimum of 1 million VND. However, customers who have not signed a contract with the company

or agents who have not paid for the purchase for two consecutive months are not eligible.

Selling price of 1 unit = total cost of producing 1 unit + marketing cost + target profit

The target profit level is set by the board of directors and is based on the company's business situation and the market. The company's current target profit level ranges from 5% to 15%. The target profit depends on the type of goods, the number of customers and the type of customers.

The company's price adjustment is also flexible depending on the increase or decrease in raw material prices, customer base, and market situation.

Table 2.4 : Prices of some products of Golden Bear Veterinary Medicine Trading and Production Company Limited (effective from December 21, 2009).

Unit: Dong

Status

Product Name	Unit	Specifications	Selling price
01	GAVA ACCELERATION 909	package	1kg/pack	44,000
		shove	5kg/bucket	220,000
02	SPECTILIN 615	package	250g/pack	23,000
		shove	10kg/bucket	690,000
03	NET 1000	bag	1g/bottle - 10mL/bottle	16,000
04	CIPROXIN - D	jar	20mL/bottle	22,500
			50mL/bottle	51,000
05	CIPRO 50 A	jar	10mL/bottle	7,000
06	BMT	can	500g/can	60,000
07	POLY-BAC 1002	package	1kg/pack	65,000
		box	1kg/box	60,000
08	VITAMIN C TAT (ANTISTRESS 15%)	shove	5kg/bucket	310,000
09	GAVA GLUCAN - VIT	can	1 liter/can	245,000
10	HEPATOL - B 12	can	1 liter/can	165,000

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• Multi-level marketing activities at Noni Vina Company Limited - current situation and development solutions - 11
• Achievements of Multi-Level Marketing Activities in the World
• Customer Perception Level of Service Price Factor
• Experience in Bank Marketing Activities in Some Countries [4] & [24]

Source: Sales Department

Price is the most effective competitive and profitable tool, the company's product prices are relatively high compared to the market. But Golden Bear Company does not have

Clear pricing policy, price adjustment depends on market situation, no discount for large quantity orders, only percentage discount when customers pay early. This is what makes customers hesitant when buying large value orders.

2.2.3.3. Distribution strategy

Channel decisions are among the most complex and challenging decisions a company must make. Each channel system generates a different level of sales and costs.

The company uses direct and indirect distribution channels to provide the company's products to customers. The company's distribution channels are specifically:

Diagram 2.2 : Product distribution channel diagram of Golden Bear Company

Golden Bear Veterinary Medicine Trading and Production Company Limited

Agency

Consumers

Customers can buy veterinary medicine for aquatic animals directly from the company, the business always maintains its own sales force and is responsible for all functions of the distribution channel such as: market research, product promotion, negotiation, relationship establishment, and product completion.

Customers can buy the company's products through agents. Currently, the company has 391 agents selling veterinary medicine, aquatic veterinary medicine and 10 nurseries. Specifically, in the Western region 1 there are 46 agents, the Western region 2 has 32 agents, the Western region 3 has 56 agents, the Western region 4 has 72 agents, Ho Chi Minh City and the Eastern Central Highlands have 123 agents, the Central region 1 has 41 agents, the Central region 2 has 20 agents. In addition, the company is expanding the market in Hanoi so there is only 1 agent.

In addition, there is another distribution channel that the company is focusing on, which is selling directly to each pond, with limited debt for customers.