The company's products are highly appreciated by customers for their variety and quality.
product quantity and design
Product prices are always clearly announced, the price policy is quite suitable for customers.
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Information and rules about promotional programs are always provided fully and promptly to customers by staff to help customers understand the company's programs.
The company has a team of friendly, enthusiastic and responsible sales staff. Sales staff always deliver goods on time, to the right place and without breakage to customers.
2.4.2. Weaknesses
The company has not yet fully exploited the domestic market.
Product consumption situation between markets is still uneven, in some places
There are places where consumption is high but there are also places where consumption is low.
The shape and color of the company's products have not yet made a strong impression on customers.
The company's discount policies do not seem very attractive to customers, which has had a major impact on customers who want to continue doing business with the company's products.
The company's support policies have not paid equal attention to customers as the company only focuses on large agents and forgets other small retail distributors.
2.4.3. Opportunity
The domestic economy is growing and people's income is increasing. The trend of consuming alcoholic beverages is increasing.
Has strong development potential in the Central market, favored by customers.
trusted in the Southern and Northern markets.
There is an opportunity to expand consumption in foreign markets.
2.4.4. Challenges
Fierce competition from joint ventures, foreign companies with famous wine brands.
High prices of input materials affect the company's profits.
company
The excise tax on alcohol remains high. The economy is subject to many unpredictable fluctuations.
CHAPTER 3: SOLUTIONS TO IMPROVE CONSUMPTION OF WINE PRODUCTS OF HUE FOODS ONE MEMBER CO., LTD.
3.1. The company's direction and goals in the coming years
In the current competitive beverage market and the difficulties of the economy in general and the wine production and trading industry in particular, the company is required to constantly improve its management level, organize production and business and correctly determine the company's business capabilities and mettle.
To continue to develop better, in the following years the company needs:
- Strengthen and maintain good relationships with traditional partners, agents, and retailers of the company across the country and seek to attract more potential customers.
- Continue to maintain domestic and foreign wine consumption markets
such as Japan, Thailand and exploit other potential markets.
- Strengthen Sales and Marketing activities to improve business efficiency and promote the company's products.
- Continuously train staff, improve the qualifications of technical workers and workers in charge of wine production.
- Regularly offer promotions to encourage customers to buy products.
- Building the Japanese Sake and Shochu wine brand into a brand
familiar brand and attracts Vietnamese consumers.
- Organize more fairs and exhibitions to introduce our products.
company to consumer
- Stabilize business operations, use and mobilize capital effectively, reduce debt ratio to limit the company's burden.
3.2. Solutions to improve consumption activities of Hue Food One Member Co., Ltd.
Based on the actual consumption situation as well as customer reviews of the wine consumption activities of Hue Food Company Limited, the author would like to propose some solutions to further promote the consumption of the company's products.
3.2.1. About market research and forecasting
Market research and forecasting is an important activity before launching a product to the market. Only when the market research and forecasting are accurate can the company come up with reasonable policies that are suitable for the frequent changes of the market.
The company should regularly conduct exchanges between the company's agents and retailers to collect information and learn about the exploitation market.
Improve the capacity and expertise of the market research and forecasting team.
Keep abreast of the company's competitors' activities in the area to make appropriate adjustments to launch new products, promotions and penetrate new markets.
3.2.2. About the product
Regularly promote research on consumer tastes in terms of features such as design, labeling, and packaging to make changes to impress customers.
Research and study to produce many new types of wine, then supply them to the market to diversify product types.
Quality plays an important role in determining the health of consumers. Currently, there are many types of wine with unclear origins on the market. Therefore, the company needs to provide goods with guaranteed quality, with clear address information, and products must be strictly inspected for quality before being released to the market to avoid errors in production and strengthen consumer confidence.
3.2.3. About selling price and discount
Conduct market research, learn and understand competitors' pricing policies and compare them with the company's pricing policy to have measures to adjust prices appropriately for customers as well as for the company.
Ensure that the price the company offers is as agreed with the customer to avoid customer doubts about the price, which reduces satisfaction and trust in the company.
Control the selling prices of retailers in the distribution channel to ensure that these customers sell at the correct price set by the company, not dumping prices that cause consumers to turn away from the company's products.
The price should be maintained in accordance with the product quality and market fluctuations over a certain period of time. The price should not be changed frequently, causing customers to be confused and unable to adapt to the company's fluctuations. If there is a change in price or product quality, customers should be informed in advance and specific information should be reported to them.
The company needs to adjust and increase the discount level with distribution intermediaries according to each region and each different customer to attract customers to choose the company's products.
3.2.4. About sales support
Actively promote sales support activities such as providing advertising cups, umbrellas, raincoats, aprons, etc. to retailers to attract more people to know about the company's products, trust and introduce the products to people around.
Support customers in recalling expired and damaged products, avoiding these products appearing on the market and reducing the company's reputation.
3.2.5. About product promotion
Increase promotion programs in terms of frequency and value to suit different customer groups to stimulate customers to buy the company's products.
Promotional programs must be announced clearly, fully, and promptly to customers to avoid customers not knowing about the promotional programs or knowing that the promotion has expired.
Strengthen the relationship between customers and the company by organizing gratitude programs during holidays and arranging staff to regularly visit and survey retailers.
3.2.6. About sales activities
Customer needs are increasingly fluctuating under different conditions, so the company must assign employees to be in charge of recording the number of customers, the number of products delivered to each customer, the exact location and time of delivery to ensure that deliveries are made fully, promptly and satisfy customer requirements.
Sales activities are a factor that strongly affects consumption, so the company must organize training and improve sales skills for employees to bring high performance.
Not only sales staff but all staff of the company should be knowledgeable about the products, understand the product catalog, pricing policy and promotional programs of the company to be able to advise customers in all situations.
PART 3: CONCLUSION AND RECOMMENDATIONS
1. Conclusion
Through the process of analyzing the consumption situation of Hue Food Company Limited as well as surveying customers' opinions on the company's consumption activities, the author draws some conclusions as follows:
The topic has raised theoretical issues related to product consumption and learned about alcohol consumption activities in our country, thereby providing a basis for analyzing the company's alcohol consumption situation in the period 2018-2020.
In general, the company has performed quite well in product consumption activities, which is reflected in the company's business results in the period 2018-2020. During this time, the company has increased in revenue and profit, consumption volume has also increased significantly, consumption revenue has increased in the markets where the company operates, especially the market outside Thua Thien Hue province, this proves that customers are increasingly aware of, accepting and trusting the company's products.
The company's products are diverse in types and designs to meet different needs and suit many classes of consumers. The company has a system of agents spread across all provinces and cities in the country, so the company's products are supplied promptly and fully to customers. Information on prices and promotional programs is always provided to customers fully and promptly by the company. However, the company's promotion policy is not really good, promotional programs and sales support still need to be improved.
Hue Food Company Limited has been operating in the market for many years and has created its own reputation and brand. Therefore, in the coming years, the company needs to maintain its strengths and improve its weaknesses to enhance the company's product consumption activities.
2. Recommendations
2.1. For companies
Strengthen cooperation with functional agencies in the provinces to attract investment and exchange and coordinate in implementing sales promotion activities.
Timely grasp the policies of State agencies and market changes to make appropriate adjustments, especially the State's price regulations and price stabilization programs.
The company needs to have solutions to change policies that customers are not satisfied with in order to create trust and customer loyalty.
Regularly research customer needs, build effective promotional strategies that are suitable for the potential customers the company wants to target.
Build, train and develop a team of competent, qualified, creative and enthusiastic employees. Encourage employees to contribute ideas to improve sales policies. Implement in-depth training programs so that employees can serve their jobs well and ensure a long-term relationship with the company.
Link with other business units, create good relationships to complement and support each other in business when necessary.