HO CHI MINH CITY

UNIVERSITY OF TECHNOLOGY AND EDUCATION

FACULITY OF INTERNATION EDUCATION
�����

FINAL REPORT

FOOD RESEARCH AND DEVELOPMENT

TUONG AN VEGETABLE OIL JOINT STOCK

COMPANY

Instructor: A/Prof. Lê Ngọc Liễu

Class: FRDE420250E_01FIE
Students: ID:
Phạm Lê Hoàng Yến 21116333
Trần Bảo Ngọc 21116312
Nguyễn Ngọc Anh Thư 21116326
Nguyễn Băng Linh 21116305
Phan Ngọc Kim Hảo 21116297
Nguyễn Quách Thịnh 21116322
Nguyễn Thị Thu Thủy 21116325

Ho Chi Minh City, 12/2024

 DUTY ROSTER
SUBJECT: Food Research and Development
Course code: FRDE420250E_01FIE
Semester 1 – SCHOOL YEAR 2024 – 2025

Student
No. Name Implementation content Performance
ID

Phạm Lê Hoàng Yến 21116333 1. Introduction

1 100%
5. Marketing mix (5.2)

2. Product portfolio
2 Trần Bảo Ngọc 21116312 100%
6. Competitor analysis (6.10 → 6.12)

3 Nguyễn Ngọc Anh Thư 21116326 3. Market segment 100%

4 Nguyễn Băng Linh 21116305 6. Competitor analysis (6.1 → 6.9) 100%

Phan Ngọc Kim Hảo 21116297 4. Market share

5 100%
8. Conclusion

6 Nguyễn Quách Thịnh 21116322 5. Marketing mix (5.1, 5.3, 5.4) 100%

7 Nguyễn Thị Thu Thủy 21116325 7. SWOT Analysis 100%

Note:
Percentage % = 100%
Instructor comments:

…………………………………………………………………………………………………
…………………………………………………………………………………………………
…………………………………………………………………………………………………
…………………………………………………………………………………………………
…………………………………………………………………………………………………
…………………………………………………………………………………………………
…………………………………………………………………………………………………
…………………………………………………………………………………………………
…………………………………………………………………………………………………

Date: … /… /…….
Instructor grades
 TABLE OF CONTENTS
1. Introduction .................................................................................................................1
1.1. Company ............................................................................................................. 1
1.2. Product ................................................................................................................ 3
2. Product portfolio .........................................................................................................4
2.1. Product portfolio definition ................................................................................ 4
2.2. Product classification ..........................................................................................4
2.2.1. Tuong An's flagship products ...................................................................6
2.2.2. Premium product line ............................................................................... 6
2.2.3. Tuong An's new product line in 2024 ...................................................... 7
2.3. Tuong An's Oil product portfolio ....................................................................... 7
2.3.1. Tuong An Premium cooking oil range .....................................................7
2.3.2. Cooking Oil for frying (crispy and delicious) ..........................................7
2.3.3. Specialized products with superior nutritional value ...............................8
2.3.4. Health-safe refined Oil line ...................................................................... 9
2.3.5. Margarine group ..................................................................................... 10
2.3.6. Horeca Oil group (Olita oil, 5-star oil) ...................................................10
2.4. Vegetable Butter in Tuong An's product catalog .............................................10
2.5. Fish sauce in Tuong An's product catalog ....................................................... 10
2.6. Tuong An Unicook Naturally Sweet Seasoning .............................................. 11
3. Market segment ........................................................................................................ 11
3.1. Geographic ........................................................................................................11
3.2. Demographic .....................................................................................................12
3.3. Behavioral .........................................................................................................13
3.4. Psychographic ...................................................................................................13
4. Market share ............................................................................................................. 15
4.1. Introduction .......................................................................................................15
4.2. Overview ...........................................................................................................16
5. Marketing mix ...........................................................................................................19
5.1. Product Strategy ................................................................................................19
5.2. Pricing ............................................................................................................... 22
5.3. Placement ..........................................................................................................25
5.4. Promotions ........................................................................................................ 26
6. Competitor analysis ..................................................................................................29
6.1. What is analysis competitor ..............................................................................29
6.2. Impact on competitors' businesses ................................................................... 29
6.3. Four types of competitors in business ..............................................................29
6.4. Make a list of competitors ................................................................................ 32
6.5. Products offered by competitors .......................................................................32
6.6. Research your competitors' sales tactics and results ........................................32
6.7. Refer to the prices that competitors deploy ..................................................... 33
6.8. Ensure to meet competitive shipping costs ...................................................... 33
6.9. Methods of analysis and next programs of opponents .....................................34
6.10. Analyze competitors' content strategy ........................................................... 34
6.11. Researching competitor technologies ............................................................ 36
6.12. Analyzing engagement based on competitor content .................................... 36
7. SWOT Analysis .........................................................................................................37
7.1. Strengths ........................................................................................................... 37
7.2. Weaknesses .......................................................................................................37
7.3. Opportunities .................................................................................................... 38
7.4. Threats ...............................................................................................................38
8. Conclusion ................................................................................................................. 39
REFERENCES ............................................................................................................. 41
 TABLE APPENDIX
Table 5.1: Price list of cooking oil products between Tuong An Company and Cai Lan
Company ......................................................................................................................... 24
Table 6.1: Competitive analysis framework .................................................................. 31
Table 6.2: Comparative analysis of branding strategies between Tuong An and Simply
cooking oil companies .................................................................................................... 35
 FIGURE APPENDIX

Figure 1.1: Tuong An Vegetable Oil Joint Stock Company ............................................1

Figure 1.2: Products of Tuong An company ....................................................................3
Figure 2.1: Product portfolio diagram of Tuong An Company .......................................5
Figure 2.2: Some oil product of Tuong An ...................................................................... 6
Figure 2.3: Some oil product of Tuong An ...................................................................... 7
Figure 2.4: Tuong An's new margarine product line in 2024 ..........................................7
Figure 3.1: The Cooking Oil product line from Tuong An Company .......................... 11
Figure 3.2: The nutritional information chart of the Cooking Oil product line from
Tuong An ........................................................................................................................ 14
Figure 4.1: Cai Lan is the cooking oil producer with the largest market share in
Vietnam in 2020 ............................................................................................................. 16
Figure 4.2: Calofic's net revenue is significantly superior to Tuong An and Kido Nha
Be .................................................................................................................................... 17
Figure 4.3: Business income of Vegetable Oil Tuong An Company 2011-2021 ......... 18
Figure 5.1: Tuong An cooking oil brand ........................................................................19
Figure 5.2: Tuong An Premium cooking oil brand ........................................................20
Figure 5.3: Bottled products of Tuong An cooking oil ..................................................21
Figure 5.4: Tuong An cooking oil advertisement is posted on taxis ............................. 26
Figure 5.5: Promotional advertisement for Tuong An cooking oil products ................ 27
Figure 5.6: The cooking competition "Khéo tay, Hay làm" at Hòa Hưng Market
organized by Tuong An Company. ................................................................................ 27
1. Introduction
1.1. Company

Figure 1.1: Tuong An Vegetable Oil Joint Stock Company

Company Name: TUONG AN VEGETABLE OIL JOINT STOCK
COMPANY
The company's headquarters: 48/5, Phan Huy Ích , P.15, Q.Tân Bình, TP Hồ Chí
Minh
Founded in 1977, Tuong An Vegetable Oil Joint Stock Company is a subsidiary
of the Kido Group. Tuong An has become a familiar national brand among customers
and consumers through products such as Tuong An Cooking Oil, Tuong An
Margarine, Tuong An Premium, and Tuong An Unicook.
The process of formation and development:
 1977 - 1984: Assuming responsibilities and producing according to the annual
quota
 1985 - 1990: Obtaining the rights to take the initiative in its production and
business, complete the construction of its factory, and invest to increase its
production rate.
 1991 - 2004: Investing in the expansion of production, increasing the capacity of
equipment, building a distribution network and preparing for integration.
 2004 - 2015: In 2005, Tuong An installed two more European technology
automatic oil-filling lines. As a result, the total bottle-filling capacity was

1
 increased to 22.500 liters per hour, which is 4.5 times higher than those at the
previous period.

In addition, the construction of Phu My Oil Plant in Phu My I Industrial Zone, Ba

Ria - Vung Tau was accelerated to meet the schedule at the end of 2006. This is a
great step for Tuong An in the process of integrating in the local and international
economy

 2016: Tuong An merged with Kido

 2019: Tuong An is proud to introduce “Tuong An Premium" - the premium line of

cooking oils with the image of the Gold Elephant inheriting the values of the Red
Elephant that stands for our renowned product line. The new image will carry on
the mission of providing innovative and specialized nutritious products made
using 7-STEP REFINING TECHNOLOGY FROM EUROPE - the most modern
refining technology in Vietnam.

 2020: Tuong An introduced Tuong An’s CookingOil Nutri Plus- the Vitamin
Extra vegetable oil supplemented with Vitamin A 10,000 IU to boost the immune
system as well as Vitamin D and Vitamin E to strengthen health. The product was
part of Tuong An’s dedication in the campaign of supporting Vietnam’s fight
against Covid-19. In the same year , Tuong An made another breakthrough by
introducing the brand new Tuong An Marvela cooking oil - Natural Nutrients.
With stylish packaging design that is on-trend with the green lifestyle, the product
aims to attract young and modern customers who are pursuing a healthy and safe
green lifestyle.

 2021: Tuong An introduced the new premium Rice Bran Oil that consists of 5
essential nutrients: Gamma Oryzanol, Phytosterol, and Omega 3, 6, 9 which are
good for your heart and physique.

 2022: Tuong An marked the 45-year milestone on its journey of spreading

happiness

Remarkable achievements:
● Products:

2
- HACCP Standards
- ISO 9001:2015 Standards
● Company
- Top 20 Vietnamese Famous Brands
● Awared by the government
- Top 20 Vietnamese Famous Brands
1.2. Product
Tuong An cooking oil is a standout product of Tuong An Vegetable Oil Joint
Stock Company ( Tuong An Oil), one of the leading brands in the cooking oil industry
in Vietnam. Tuong An specializes in producing and supplying high-quality cooking
oils such as soybean oil, rice bran oil, blended vegetable oil, and other specialized
cooking oil products.
Tuong An cooking oil is distinguished by its modern production process, which
adheres to international food safety standards. The product is made from natural
ingredients, ensuring it contains no cholesterol, making it healthy, especially for those
who wish to maintain a balanced diet.
With its diverse product range and commitment to quality, Tuong An cooking
oil has become a preferred choice for many households and restaurants in Vietnam,
contributing to the enhancement of culinary values and the protection of consumer
health.

Figure 1.2: Products of Tuong An company

3
2. Product portfolio
2.1. Product portfolio definition
A product portfolio is a collection of all products and services a company offers
to its customers. It encompasses a diverse range of items, each at varying stages in
their life cycle, to meet a target market’s diverse needs.
2.2. Product classification
Product Classification is a system for organizing products and services into a
clear structure based on their key features.
This hierarchical classification system is prevalent in Product Portfolios and is
often visible to customers on the websites of companies like Tuong An.

4
Figure 2.1: Product portfolio diagram of Tuong An Company

5
2.2.1. Tuong An's flagship products
- Tuong An CookingOil: Known for its superior taste and safety.
- Tuong An CookingOil Nutri Plus: Enhances immune system function.
- Tuong An Marvela Nutritional Oil: Provides natural nutrients.
- Tuong An Margarine: A key ingredient for delicious recipes

Figure 2.2: Some oil product of Tuong An

2.2.2. Premium product line
- Tuong An Premium Soybean Oil: Good for the cardiovascular system.
- Tuong An Gold Premium Cooking Oil: The golden solution for high-
temperature frying.
- Tuong An Premium Light Brown Rice Oil: Healthy heart, beautiful body.
- Tuong An Season Micronutrient Cooking Oil: Good for the heart, strong
bones.
- Tuong An VIO Nutritional Cooking Oil for Children: Comprehensive
nutrition for children's development.

6
 Figure 2.3: Some oil product of Tuong An
2.2.3. Tuong An's new product line in 2024
- Tuong An Margarine with Cane Sugar: A Vietnamese first, combining
100% pure cane sugar for a naturally sweet taste with a smooth, creamy texture.
Perfect for spreading on bread, dipping fried foods, and making sauces, it enhances
the flavor and adds a golden hue to any dish.
- Tuong An Butter-flavored Margarine: Enjoy the rich, creamy taste of butter
in this new margarine. Its mild saltiness and smooth texture make it ideal for baking
cookies, cakes, and pastries, and it's perfect for adding flavor and richness to both
Asian and Western dishes.

Figure 2.4: Tuong An's new margarine product line in 2024

2.3. Tuong An's Oil product portfolio
2.3.1. Tuong An Premium cooking oil range
- Soybean Oil: 100% pure refined soybean oil enriched with vitamin A.
Available in PET bottles: 400ml, 1L, 2L, and 5L.
- Light Brown Rice Oil: A blend of brown rice oil (40%), canola oil, soybean
oil, and vitamin A palmitate. Available in 1L PET bottles.
- Tuong An Gold Cooking Oil: A refined blend of olein oil, canola oil, and
sunflower oil, emulsifier (475), and vitamin A palmitate. Available in PET bottles:
400ml, 1L, 2L, and 5L.
2.3.2. Cooking Oil for frying (crispy and delicious)
This is Tuong An's traditional product line and accounts for a significant portion
of the company's total output.

7
 - A blend of refined vegetable oils including soybean oil, olein oil, canola oil,
and peanut oil, formulated to achieve optimal crispness and stability when frying. This
is the most common cooking oil on the market today, used for baking, frying, and
food processing.
- Specifically used for deep-frying, making ice cream, baking, and in canned
milk (sweetened condensed milk) for industrial customers.
- Available in various packaging formats: PET bottles (250ml, 400ml, 1L, 2L,
5L), PET cans (17kg), PE cans (18kg, 25kg), and PE bags (18kg).
Cooking Oil products
- Cooking oil: Refined blend of olein oil, soybean oil, and canola oil, emulsifier
(475).
- Nutri plus cooking oil: Refined blend of olein oil, soybean oil, sunflower oil,
emulsifier (475), vitamin A palmitate, and vitamin D.
- Tuong An Marvela Nutritional Cooking Oil: Refined blend of olein oil,
soybean oil, sunflower oil, emulsifier (475), and vitamin A palmitate.
- Van Tho Cooking Oil: Refined blend of olein oil, soybean oil, and canola oil,
emulsifier (475), and vitamin A palmitate.
- Van Tho 100% Soybean Oil: 100% pure refined soybean oil, enriched with
vitamin A palmitate.
- Tuong An Marvela Soybean Oil: 100% pure refined soybean oil, enriched
with vitamin A palmitate.
2.3.3. Specialized products with superior nutritional value
This includes soybean oil, sesame oil, and peanut oil.
These are refined oils with over 80% unsaturated fatty acids, particularly high
levels of Omega-6 fatty acids (linoleic acid) and ALA (alpha-linolenic acid), which
are precursors of EPA and DHA. These oils are beneficial for brain health, preventing
cardiovascular diseases, and are highly nutritious. They are ideal for frying, baking,
vegetarian diets, and salad dressings. Oils rich in natural vitamins like vitamin A and
vitamin E are beneficial for health and anti-aging.
All products are cholesterol-free and available in the following packaging: 0.25L,
0.4L, 1L, 2L, 5L bottles, and 18kg cans.

8
 Products:
- Sunflower Oil: 100% pure refined sunflower oil.
- Canola Oil: 100% pure refined canola oil, enriched with vitamin A palmitate.
- Sesame Oil: 100% pure refined sesame oil.
- Peanut Oil: 100% pure refined peanut oil, enriched with vitamin A.
- Extra Virgin Olive Oil: 100% pure olive oil, cold-pressed.
- Roasted Sesame Oil: 100% pure roasted sesame oil.
2.3.3.1. VIO Oil
VIO premium nutritional cooking oil, specifically for children, is fortified with
DHA and natural vitamins E, A, and lycopene from annatto, promoting brain
development, healthy skin, eyes, and heart. Refined from pure sesame oil (pressed
from sesame seeds) and supplemented with annatto oil. DHA content: 1.71 mg
DHA/g oil, Vitamin A: 14,000 IU/kg, Vitamin E: 500 mg/kg, bottle size 0.25L.
* Products:
- Vio Gấc Oil: Refined sesame oil, canola oil, annatto oil, DHA, vitamin A
palmitate.
- Vio Olive Oil: Cold-pressed virgin olive oil, refined olive oil, vitamin A
palmitate, D, E.
- Vio Sesame Oil: Pure refined sesame oil, DHA, vitamin A palmitate, and
vitamin D.
2.3.3.2. Season Oil
Season premium nutritional oil is fortified with vitamins A and D to help protect
cells from aging and promote bone health, suitable for all ages. Ideal for salad
dressings, stir-frying, vegetarian dishes, and baking. Refined from pure soybean oil
(pressed from soybeans). Vitamin A content: 30,000 IU/kg, vitamin D content: 3,000
IU/kg, vitamin E content: 1,000 mg/kg, bottle size 1L.
Products: Season Oil: Refined soybean oil, canola oil, refined peanut oil,
vitamins A & D.
2.3.4. Health-safe refined Oil line
- Van Phuc Oil: Refined blend of olein oil and soybean oil, emulsifier (475),
vitamin A palmitate. (PET bottle: 750ml)

9
 - Olita Oil: Refined blend of olein oil and soybean oil, emulsifier (475), vitamins
A and palmitate. (PET bottle: 400ml, 1L, 2L, 5L)
- Ngon Oil: Refined blend of olein oil and soybean oil, emulsifier (475), vitamin
A palmitate. (PET bottle: 370ml, 880ml, 1.8L, 4.7L)
2.3.5. Margarine group
Made from a blend of nutritious liquid vegetable oils, which have undergone a
hydrogenation process and been refined to form a solid oil mixture as required.
Margarine has a pure and delicious flavor, rich in β-carotene, and is widely used for
baking, frosting cakes, or spreading on bread. Available in 80g and 200g packages,
and 20kg paper boxes.
Similar in color and taste to animal butter, it is fortified with salt and delicious
flavors, making it very popular. Rich in provitamin A, high nutritional value.
2.3.6. Horeca Oil group (Olita oil, 5-star oil)
Vegetable oil used primarily in restaurants and hotels.
2.4. Vegetable Butter in Tuong An's product catalog
- Original Butter: Refined vegetable oil, water, salt (naturally mild salty taste)
- Butter Milk: Refined vegetable oil, water, salt, compound flavor (butter flavor,
milk flavor) (naturally rich buttery milk flavor)
- Cane Sugar Butter: Refined vegetable oil, cane sugar (25%), water, salt,
natural and synthetic butter flavor (naturally mild sweet taste)
2.5. Fish sauce in Tuong An's product catalog
- 40-degree protein fish sauce: Main ingredients (≥97%): fish sauce essence
(anchovies, salt). Glass bottle: 500ml
- 2-degree protein fish sauce: Main ingredients (≥96%): fish sauce essence
(anchovies, salt). Glass bottle: 500ml
- Ngu Phu ngon khoe fish sauce - green label: Main ingredients (95%): Pure
anchovy fish sauce (anchovies, salt). PET bottle: 500ml, 750ml
- Ngu Phu ngon khoe fish sauce - red label: Main ingredients (95%): Pure
anchovy fish sauce (anchovies, salt). PET bottle: 500ml, 750ml
- Delicious dipping sauce: Water, salt, pure anchovy fish sauce (anchovies, salt),
sugar. PET bottle: 900ml

10
2.6. Tuong An Unicook Naturally Sweet Seasoning
- Meat seasoning: Extract of tenderloin, bone, and braised meat broth from
100% clean pork.
- Vegetarian seasoning: Extract of shiitake mushrooms and 3 types of
vegetables from 100% fresh ingredients.
3. Market segment
Selecting a product line to present: Cooking oil Tuong An
The Tuong An Cooking oil product line includes a variety of bottles in different
sizes, ranging from small to large. These bottles feature a distinctive golden color and
prominent labels displaying the name "Cooking Oil" alongside the Tuong An logo.
The labels provide information about the product, such as its ingredients, uses, and
instructions for use. The product is advertised as health-safe and suitable for everyday
cooking. Tuong An cooking oil is packaged in plastic bottles with convenient screw
caps, making it easy to use and store.

Figure 3.1: The Cooking Oil product line from Tuong An Company
3.1. Geographic
Tuong An cooking oil strategically focuses on the Southern market, as this
region boasts higher income levels among residents compared to both the Central and
Northern regions. Consumers in the South have demonstrated a strong preference for
high-quality, premium products, reflecting their willingness to invest in better cooking
oils.
Ho Chi Minh City, in particular, serves as a vital hub for Tuong An, featuring a
dense population and a vibrant food culture that includes numerous large-scale
restaurants, bustling street food vendors, and a wide array of entertainment venues.

11
This concentration of dining establishments and social activities contributes to a
significantly greater demand for cooking oil in the South. Therefore, Tuong An
cooking oil views this region as a "gold mine," making it the highest priority in their
market strategy.
Central and Northern Regions:
In contrast, the Central and Northern regions exhibit a more balanced usage of
cooking oil. Here, consumers tend to be less discerning about Tuong An cooking oil
products, which may indicate a preference for practicality over brand prestige. While
consumers across these regions may not prioritize premium options as much as those
in the South, they still show consistent buying habits.
However, it is noteworthy that major cities within the Central and Northern
regions—such as Da Nang and Hanoi—do show significantly higher consumption
levels compared to smaller towns and rural areas. Urban populations in these cities
often seek quality products, albeit without the same intensity of demand seen in the
South. Thus, Tuong An cooking oil must tailor its marketing approaches to address
the varying needs and preferences of consumers across these diverse geographical
landscapes.
3.2. Demographic
Tuong An is a versatile cooking oil brand specifically designed to accommodate
the diverse culinary needs of consumers across various age groups. In today's vibrant
market in Vietnam, homemakers represent a substantial segment of shoppers, often
influencing the majority of household purchasing decisions. Understanding the
importance of this demographic, Tuong An has made it a priority to tailor its
marketing strategies to resonate with homemakers. This focus includes targeted
advertising campaigns, recipe suggestions, and cooking tips that align with their
interests and lifestyles. By building strong connections with these consumers and
fostering brand loyalty through relatable and engaging content, Tuong An aims to
become an essential part of every Vietnamese kitchen.
The pricing strategy for Tuong An cooking oil has been thoughtfully crafted to
align with the living standards of Vietnamese consumers. By offering a product that is
not only high in quality but also affordable, Tuong An ensures that it is accessible to a
wide range of economic classes. This approach allows families from various
backgrounds to incorporate Tuong An cooking oil into their daily cooking routines,
reinforcing its position as a staple in Vietnamese kitchens.

12
3.3. Behavioral
Usage Scenarios: Based on the reasons why customers purchase cooking oil,
Tuong An can segment the market into two main customer groups: those who buy for
personal use and those who buy for business purposes. For households purchasing oil
for direct consumption, their primary focus is on satisfaction with quality. On the
other hand, customers buying for business purposes not only require products that
meet health and hygiene standards but also prioritize affordability.
To meet these diverse needs, Tuong An introduced a 201-format bottling line,
which helps minimize packaging costs for buyers. This allows Tuong An cooking oil
to deliver affordable yet high-quality products to its customers.
Customer Benefits in Choosing Tuong An
Today, people are increasingly concerned about their health. Many are hesitant
to consume fried, stir-fried, or deep-fried foods due to health risks. However, with
Tuong An cooking oil, consumers no longer have to worry—they can enjoy their
favorite dishes while maintaining their health. This makes Tuong An an excellent
choice for consumers. By building trust among customers, Tuong An products
become an indispensable companion for homemakers, solidifying their role as a
trusted household brand.
3.4. Psychographic
Everyone has a fundamental need for food, which is an essential aspect of life
across all cultures and demographics. As a result, individuals pay careful attention to
their diets to ensure they meet their nutritional requirements. Among the various
ingredients used in meal preparation, cooking oil plays a critical role, making it an
indispensable product for most households.
In the contemporary market, Tuong An Cooking oil has become a prominent
name, frequently featured in advertisements across television and digital platforms.
This visibility helps to strengthen the brand's connection with consumers. Tuong An
emphasizes a key message: its cooking oil is heart-healthy and supports overall
wellness. As health-conscious consumers increasingly seek products that enhance
their nutrition, they look to Tuong An for cooking oil that is enriched with vital
natural vitamins and nutrients. These include vitamins A, D, and E, which are
essential for various bodily functions, as well as Omega-3, Omega-6, and Omega-9
fatty acids, which contribute to a balanced diet and promote heart health.

13
 Figure 3.2: The nutritional information chart of the Cooking Oil product line from
Tuong An
This makes Tuong An cooking oil suitable for everyone, including children,
individuals with dietary restrictions, and those following specific nutritional
guidelines. A significant aspect of modern health awareness involves the desire for
cholesterol-free cooking oils. High cholesterol levels pose considerable risks to
cardiovascular health, making it crucial for consumers to choose products that support
a heart-healthy lifestyle—especially as sedentary lifestyles have contributed to a
worrying increase in heart disease rates in recent years.
In terms of quality, consumers are looking for cooking oils that are highly
refined and pure, devoid of any impurities that could compromise the taste or health
benefits of their meals. They want a cooking oil that preserves and enhances the
natural flavors of food, without altering the taste of dishes. Additionally, the
versatility of cooking oil is essential; consumers enjoy having a product that can be
used for various cooking methods. For instance:
Deep-frying: Tuong An cooking oil ensures that food cooks evenly while
achieving a golden, crispy finish, which is particularly desirable for snacks and
appetizers.

14
 Pan-frying: The oil helps to create a crispy exterior while keeping the interior
juicy and tender, making it a great choice for proteins like chicken and fish.
Stir-frying: Tuong An oil allows for even cooking of vegetables and meats,
ensuring that flavors are enhanced while maintaining their natural textures.
Moreover, consumers prioritize cooking oils that have a high smoke point,
meaning they can withstand higher temperatures without burning. This property is
crucial for achieving crispy fried dishes without unwanted burnt flavors.
Convenience is another vital consideration for today's consumers. They prefer
cooking oils that are readily available in various retail formats, such as supermarkets,
convenience stores, and traditional markets. They appreciate packaging that is user-
friendly, easy to store, and available in diverse sizes to accommodate different
culinary needs and household sizes.
Tuong An cooking oil not only meets consumers' culinary needs but also fosters
a sense of trust and safety. This commitment to quality, health benefits, and
convenience is a significant factor in why Tuong An has become a preferred choice
among consumers seeking reliable cooking oil solutions for their kitchens
4. Market share
4.1. Introduction
Market share is defined as the proportion of total sales in an industry controlled
by a particular business. It is typically expressed as a percentage and is used to give a
general idea of the size of a company relative to its market and competitors. It's a key
metric for understanding a company's performance relative to the market's growth.
A company's market share is its portion of total sales in relation to the market or
industry in which it operates. To calculate a company's market share, first determine a
period you want to examine. It could be a quarter, a year, or multiple years.
Next, calculate the company's total sales over that period. Then, find out the total
sales for the company's industry. Finally, divide the company's total revenues by its
industry's total sales.
The formula for market share is:
Market Share = (Company's Total Sales / Total Industry Sales) x 100
Benefits of Market Share

15
 Investors and financial analysts monitor increases and decreases in market share
carefully, as this can be a sign of the relative competitiveness of the company's
products or services. As the total market for a product or service grows, a company
that is maintaining its market share is growing revenues at the same rate as the total
market. A company that is growing its market share will be growing its revenues
faster than its competitors.
Market share increases can allow a company to achieve greater scale with its
operations and improve profitability. A company can try to expand its market share by
lowering prices, advertising its products, or introducing new or different products. It
can also grow the size of its market share by appealing to other audiences or
demographics.
Changes in market share have a more important meaning in the performance of
companies in mature and traditional industries, where there is known and steady
growth in line with the general economy. In contrast, changes in market share have
less importance with companies operating in growth industries. In these industries, the
total pie is still growing, so companies can still be growing sales even if they are
losing market share. For companies in this situation, stock performance is affected
more by customer and sales growth, as well as profit margins, if applicable, than by
market share.
4.2. Overview

Figure 4.1: Cai Lan is the cooking oil producer with the largest market share in
Vietnam in 2020

16
 There are currently about 40 cooking oil companies in Vietnam, however, most
of the market share is held by 3 major companies including Cai Lan (Calofic), which
accounts for nearly 40% of the market share; Tuong An with 20% of market share and
Kido - Nha Be with 11%.

Figure 4.2: Calofic's net revenue is significantly superior to Tuong An and Kido Nha
Be
Regarding the business performance of the company, despite positive results in
the first 6 months of the year with estimated revenue of about 3,000 billion VND and
pre-tax profit of 105 billion VND, up 37% and 23% respectively over the same period
last year, Tuong An still only sets business targets close to 2020. Specifically, the
company’s projected net revenue for 2021 is 5,266 billion VND, profit before tax is
232 billion VND, up slightly by 0.36% and 5%, respectively compared to 2020.
Tuong An's net revenue in 2020 reached 5,247 billion VND, an increase of
26.67% compared to 2019, the corresponding gross profit reached 762 billion VND,
an increase of 15.22% compared to 2019. In particular, revenue came from mid-range
and high-end segments increased by 23% compared to 2019.

17
 Figure 4.3: Business income of Vegetable Oil Tuong An Company 2011-2021
Calofic is the owner of the most prestigious brands in the Vietnamese cooking
oil market such as Neptune, Simply, MEIZAN, Cai Lan, Kiddy, Olivoilà, Orchid &
Satellite. By the end of 2019, Calofic's total assets reached 3,723 billion VND with
equity of 3,253 billion VND, up 13.9% and 18.5% respectively compared to the
beginning of the year.
Specifically, in 2016 and 2017, Calofic's net revenue reached 6,493 billion VND
and 6,742 billion VND, net profit was 551 billion VND and 475 billion VND,
respectively.
In 2019, Calofic's net revenue reached 7,489 billion VND, an increase of 1.7%
compared to the previous year; Net profit was at 577 billion VND, while in 2018
profit was 731 billion VND.

18
 Figure 4.4: Calofic Net Profit Chart 2016 - 2019
5. Marketing mix
5.1. Product Strategy
a. Product Mix
Over the years, Tuong An Oil has gained initial experience in product
diversification. Tuong An cooking oil products are divided into 5 lines: premium line
for heart health, frying line, specialized line, refined oil line, and Horecal - a type of
vegetable oil mainly used in restaurants.
b. Brand

Figure 5.1: Tuong An cooking oil brand

Slogan: Good cooking oil, understanding delicious food!

19
 A brand says it all. For generations of Vietnamese consumers, the image of the
red elephant alongside the Tuong An brand has become a familiar and endearing
symbol over the decades. This elephant has quietly accompanied and contributed,
becoming an indispensable member of every Vietnamese kitchen.
The image of the red elephant raising its trunk and striding forward is the "spirit"
of Tuong An – always demonstrating strength, youthful vigor, a determination to
conquer the market, and a quick adaptation to meet the ever-increasing demands of
Vietnamese consumers. The color red represents the aspiration for success and victory,
standing out against a gold background symbolizing nobility, luxury, and quality,
further affirming Tuong An's desire to reach far, grow stronger, and endure through
the years.

Figure 5.2: Tuong An Premium cooking oil brand

Seizing this trend, in 2020, Tuong An researched and developed a premium
cooking oil line called Tuong An Premium, featuring a new logo of a golden elephant
on a green background. These cooking oil products are primarily refined from
soybean oil, olive oil, sesame oil, canola oil, sunflower oil, peanut oil, and more. The
oils are of high quality, containing 0% cholesterol, 0% preservatives, 0% trans fats,
and 0% artificial coloring.
c. Product
Attribute Decisions: Nowadays, consumer needs are increasingly diverse,
especially for cooking oils with high nutritional content for heart disease patients,
butter for those who don't want to gain weight, etc. According to some global studies,
vegetable oils such as olive oil, soybean oil, canola oil, sunflower oil, corn oil, gấc oil,

20
sesame oil, grape seed oil, etc. provide a necessary source of pure energy for the body
and contribute to cancer prevention. A diverse service diversification direction is that
Tuong An Oil could open a vegetarian restaurant. This idea is not new but still very
attractive. A restaurant that serves food, sells food, and guides consumers on how to
make dishes will be welcomed by the public. With a skilled and dedicated team,
Tuong An's brand image will continue to grow.
d. Packaging
To meet the diverse needs of customers, Tuong An offers cooking oil products in
various packaging formats, suitable for both households and businesses. The company
uses 100% modern bottling and labeling technology from Germany. The available
packaging types and sizes include:
PET bottle: 250ml, 400ml, 1 liter, 2 liters, 5 liters, 9kg
PE can: 25kg
PE bag: 18kg
Through extensive market research and a deep understanding of consumer
preferences, marketing team has developed a range of modern, symmetrical label
designs. The sleek bottle design is in line with the latest trends and is particularly
appealing to female consumers.

Figure 5.3: Bottled products of Tuong An cooking oil

e. New Product Development
The company's product development process consists of the following steps:
Step 1: Idea Generation and Screening
Step 2: Development and Testing

21
 Step 3: Marketing Mix Development
Step 4: Profit Projection
Step 5: Market Testing
Step 6: Commercialization
5.2. Pricing
Tuong An has carefully crafted a pricing strategy that resonates with consumers.
By offering a range of products at different price points, Tuong An caters to diverse
consumer needs and preferences. From affordable cooking oils to premium and
nutritional options, there's a Tuong An product for every consumer.

Tuong An Company Cai Lan Company

Classification Product line Price Product line Price

Premium Tuong An 63,900 VNĐ/ Neptune Light 65,000VNĐ/

product line Gold 1L 1L

Light Rice 79,900 VNĐ/

Bran Oil 1L

Soybean Oil 69.900 VNĐ/

1L

Frying and Cooking Oil 58.900 VNĐ/ Simply Pure 59.000 VNĐ/
stir-frying 1L Soybean oil lL
product line

CookingOil 62.900 VNĐ/ Simply Pure 77.600 VNĐ/

Nutri Plus 1L Rice Bran Oil 1L

Van Tho Oil 65,000 Simply Pure 86.300 VND/

VNĐ/1L Sunflower Oil 1L

Tuong An 59.900 VNĐ/ Simply Pure 79.500 VNĐ/

Marvela 1L Canola Oil 1L
Nutritional

22
 Cooking Oil

Tuong An 55.000 VNĐ/

Marvela 1L
Soybean Oil

Specialized Sesame Oil 125.900 VND/ Sunflower oil 68,000

product line 1L VNĐ/1L
Simply

Sunflower 87.900 VNĐ/ Canola oil 63,000

Oil 1L VNĐ/1L
Simply

Canola Oil 71.900 VNĐ/ Brown rice oil 65,000

1L VNĐ/1L
Simply

Peanut Oil 121.900 VNĐ/ Meizan Gold 56,000

L premium VNĐ/1L
cooking oil

Roasted Oil 75.900 VND/ Meizan 66,000

250mL Soybean Oil VNĐ/1L

Extra Virgin 199.900 VNĐ/ Meizan 78,500

Olive Oil 500mL Sunflower Oil VNĐ/1L

Vio Sesame 58,900 Meizan 64,800

Nutritional VNĐ/250 mL Fragrant VNĐ/250mL
Oil For Kids Sesame Oil

23
 Vio Olive 109,900 KIDDY 57.000 VNĐ/
Nutritional VNĐ/250 mL Nutritional Oil 250ml
Oil For Kids For Kids

Vio Gac 52.900 VNĐ/ KIDDY Oilve 118.000 VNĐ/

Nutritional 250mL Oil For Kids 250 mL
Oil For Kids

Season 72,900 Olivoilà 229,900 VNĐ/

Cooking Oil VNĐ/1L Pomace olive 750ml
oil

Olivoilà Extra 309,900 VNĐ/

Virgin olive oil 750ml

Refined oil Olita 47,900 ORCHID 41,200

product line Cooking Oil VNĐ/1L VNĐ/1L
Refined
vegetable oil

Ngon 38,800 Cái Lân 46,200 VNĐ/1

Cooking Oil VNĐ/880mL Refined bottle/ 1L
Vegetable oil

Horeca Cooking Oil 252,000 Cái Lân 199,000 VNĐ/

product line VNĐ/5L 5L
Cooking oil

Olita 205,000 Meizan 205,000

Cooking Oil VNĐ/5L premium VNĐ/5L
vegetable oil

Table 5.1: Price list of cooking oil products between Tuong An Company and Cai Lan
Company
Tuong An offers smaller bottle sizes, such as 250ml and 400ml, to cater to the
needs of small grocery stores and consumers who prefer to buy smaller quantities.

24
This is especially convenient for those who want to quickly pick up a bottle at their
local corner store
Tuong An offers a wide range of oils with varied prices, catering to different
customer needs and preferences.
* Economical Options: Tuong An Marvela Soybean Oil, Tuong An Cooking
Oil, Tuong An Marvela Nutritional Cooking Oil
* Mid-range Options: Tuong An Gold, Van Tho Oil, Soybean Oil, Cooking Oil
Nutri Plus
* Premium Options: Sesame Oil, Peanut Oil, Sunflower Oil, Extra Virgin Olive
Oil
Tuong An is a good choice for those who want a wide variety of oils with
options in both economical and premium categories. Their prices are competitive,
especially for standard cooking oils and specialty oils like sesame and peanut oil.
Cai Lan also provides a range of oils, but it offers bulk options that provide
excellent value for larger purchases. It also has affordable options in the Simply Pure
line and Meizan Gold. However, for premium olive oils, Cai Lan is relatively more
expensive than Tuong An.
5.3. Placement
Tuong An products are widely available through various distribution channels,
ensuring customers can easily access and purchase products in different environments.
These include:
 Supermarkets
• That offer a variety of products and services to the customers.
• Supermarkets also provide a good display and visibility for Tuong An products.
• Such as Big C, Co.op Mart, Lotte Mart, and VinMart.
 Grocery stores
• That are located in residential areas and rural markets.
• Grocery stores are familiar and friendly for the customers. Buy Tuong An
products at low prices.
 Convenience stores
• That are open 24/7 and offer a range of products and services to the customers.

25
 • Fast and easy for the customers who want to buy Tuong An products on the go
or for emergency needs.
• Such as: Winmart, Family Mart, 7-Eleven.
 Online platforms
• Offer e-commerce and delivery services to the customers.
• Online platforms are convenient and flexible for the customers who want to
buy Tuong An products from anywhere and anytime.
• Such as: Lazada, Shopee, Tiki, and Sendo.
5.4. Promotions
a. Advertisement
Tuong An's marketing and advertising efforts have been considered less
effective compared to Cái Lân, whose flagship brands such as Neptune, Simply, and
Meizan have enjoyed significantly higher TV advertising frequency. In response,
Tuong An has undertaken several initiatives to enhance its advertising strategy. This
includes a stronger focus on outdoor advertising through channels like buses, taxis,
and billboards, as well as increased utilization of point-of-sale materials (POSM),
product demonstration booths, and attractive promotions at retail locations like
supermarkets.

Figure 5.4: Tuong An cooking oil advertisement is posted on taxis

b. Sales promotion

26
 •To stimulate and increase the sales of its products in the short term.
•Discounts, coupons, vouchers, free samples, gifts, loyalty programs.

Figure 5.5: Promotional advertisement for Tuong An cooking oil products

c. Publish relation
Tuong An has also been actively involved in various social initiatives, such as
honoring Vietnamese War Mothers, contributing to the construction of charity houses,
supporting flood victims, and providing scholarships for underprivileged students.
These efforts aim to connect with consumers on a deeper level and foster goodwill
towards the brand. Additionally, Tuong An actively participates in trade fairs and
exhibitions, and offers attractive incentives to its distribution network, including
discounts, rebates, and advertising support.

Figure 5.6: The cooking competition "Khéo tay, Hay làm" at Hòa Hưng Market
organized by Tuong An Company.

27
 Evaluate and provide recommendations to enhance the effectiveness of
future marketing activities for this product
 Assess
Tuong An boasts advanced technology and production lines. However, the
company's accounts receivable remain relatively high. Additionally, Tuong An's
responsiveness to external opportunities and threats is only average. While the
company has achieved some success with its current strategies, there is room for
improvement. Despite a comprehensive approach to strategic planning, including
investments, financial strategies, ownership changes, product development, and
distribution, the company's financial performance has not significantly improved. This
suggests that intense price competition within the industry, rather than a lack of
innovation, is the primary factor hindering growth. Moreover, it is unclear whether the
company is fully leveraging the potential of its workforce through training and
development. The fierce price competition indicates that Tuong An may not have
successfully differentiated its products through research and development
 Strategy proposal
Creating a diverse range of products with innovative designs and attractive
packaging is crucial, but it's important to avoid creating too many brands. An
excessive number of brands can confuse consumers. Currently, Tuong An Oil
Company has many different products with various names, such as Cooking Oil, Vạn
Thọ Oil, sesame oil, peanut oil, and soybean oil, as well as premium lines like VIO
and Season. This poses a risk of diluting the main brand. The focus should be on
product quality and meaningful innovations that leave a lasting impression on
consumers. Human resources play a vital role in the success of any strategy. The
teams responsible for strategic planning and operational units are the ones who
implement these strategies. Therefore, investing in employee development is essential
for successful policy implementation. Large companies like Coca-Cola, Unilever, and
Procter & Gamble have achieved success due to their strong emphasis on human
capital. These companies offer competitive salaries, provide comprehensive training,
and create stimulating work environments that empower employees. To meet its
current and future human resource needs, Tuong An should focus on implementing
competitive compensation packages, regular recruitment, and fostering a positive
work culture. Expanding into the Northern Vietnam market is a key strategy for
Tuong An. The company faces intense competition in this region in terms of both
price and brand recognition. Expanding into the North is seen as a way to maximize

28
the return on investment, fully utilize new equipment, and explore export
opportunities. This will also contribute to job creation, faster asset depreciation,
increased production, revenue, and profits.To maximize growth, Tuong An should
continue developing new products with improved quality and attractive packaging.
Implementing ISO standards will help ensure consistent quality and efficient
production processes. The company should also expand its distribution network by
offering incentives to distributors, increasing sales promotions, and hiring more sales
personnel.
6. Competitor analysis
6.1. What is analysis competitor
Competitive analysis is the process of comparing your competitors against your
brand to understand their core differentiators, strengths, and weaknesses. It’s an in-
depth breakdown of each competitor’s market position, sales & marketing tactics,
growth strategy, and other business-critical aspects to see what they’re doing right and
find opportunities for your business.
6.2. Impact on competitors' businesses
Competitors play a crucial role in determining the success or failure of any
business strategy. According to the principle of "Know your enemy and yourself, and
you will win every battle," thoroughly researching competitors is essential for
understanding the market and optimizing growth strategies.
Benefits of effective competitor analysis:
Understanding market saturation: Analyzing competitors allows businesses to
assess the market's potential and competition levels, helping identify opportunities and
risks. This insight facilitates strategic planning and enhances the likelihood of success.
Comprehensive evaluation from the customer’s perspective: By examining
competitors and the business itself through the eyes of customers, companies can
pinpoint strengths to leverage and weaknesses to address, creating more effective
customer engagement strategies.
Identifying and exploiting niche markets: Competitor research helps discover
untapped market segments. Leveraging these niches offers competitive advantages
and supports sustainable growth
6.3. Four types of competitors in business

29
 Competitors are entities or businesses that target the same customer segment,
offer similar products or services at comparable prices, and possess competitive
strength within the same market segment.
Indirect competition is the kind of competition you experience from indirect
competitors. These are competitors that offer different products and services to you,
but targeting the same set of customers.
The products and services offered by indirect competitors are often referred to as
“substitutes” or “alternatives.” Indirect competition arises when customers have
access to different solutions that address the same needs or problems. It involves any
product or service that provides an alternative way for your target audience to achieve
their desired outcomes or solve their challenges. Understanding these alternatives is
crucial for identifying potential threats and positioning your offerings effectively.
Examples of indirect competitors: Laptops and tablets
Direct competition is the type of competition you experience from your direct
competitors, who target the same customer segments as you do, and offer the same
kinds of products and services.
Examples of direct competitors: Samsung and Iphone
Potential competitors are businesses or individuals that are not currently
operating in a given market but have the capacity to enter it in the future, posing a
threat to existing companies. These competitors may come from related industries or
entirely new sectors, offering innovative products, services, or technologies.
Examples of Potential competitors: Soft drink giants vs. Health-focused
beverage startups.
Competitors are partners: Your previously effective partners may be growing
and expanding their business products and services. And there are many possibilities,
these partners can become your competitors because they benefit from the cooperation
below.
Examples of Competitors are partners: Manufacturing Collaborations: A
company outsourcing components to a supplier might find that the supplier has begun
producing similar finished products, targeting the same customer base.

30
 Tuong An Oil Simply Oil

Founded 1977 1996

Vietnam Maritime
Company Investores KIDO Corporation , Quangninhport,
specific and Geleximco

Established brand, high- Competitive pricing, easily

quality products, nutritional accessible, health-conscious
Strengths value, diverse product range products supporting digestion
(oils, margarine, enriched
oils)

Cooking oils (soybean, gac Cooking oils (vegetable,

Product oil), margarine, enriched oils soybean, sunflower oils)
with vitamins

Primary Families, restaurants, food Families, health-conscious

Buyer processors consumers

Target Secondary Industrial kitchens, Retail stores, supermarkets

customer Buyer distributors

Vietnamese consumers, Health-conscious individuals

Target
especially families and food and cost-conscious consumers
Customer
businesses

Sustainable quality, health Affordable, easy to use in

Messaging
support, traditional products everyday cooking

Cholesterol-free, vitamin-rich, Cholesterol-free, pure

Product
diverse margarine options, vegetable oil, suitable for
Features
enriched oils everyday cooking

Mid to high range, suitable for Affordable, targeting the

Pricing
various consumer segments middle-income segment
Product
specific Product Superior quality, trusted Good value for money,
Strength brand, health-focused options versatile for daily use

Highly praised for quality and Positive reviews for

Customer convenience, popular among affordability, but some
Reviews households and industrial feedback mentions less robust
kitchens​ flavor than competitors

Table 6.1: Competitive analysis framework

31
6.4. Make a list of competitors
Established in 1977, Tuong An is a pioneer in the field of manufacturing and
trading vegetable-based cooking oils and fats in Vietnam.
Direct Competitors (those offering similar products): Masan Consumer
Company, Cai Lan Company
Indirect Competitors (those offering substitute or complementary products):
Margarine Brands like Dove, Kinhdo, International brands like Crisco and Unilever’s
Flora margarine.
Where simply is the opponent we will analyze today.
6.5. Products offered by competitors
Product Cost: Simply offers products at affordable prices, targeting middle-
income and low-income consumers
Sales Strategy: They mainly sell in bulk or combo packs, frequently offering
savings bundles and discounts in stores and online​
Market Share: Simply holds a significant market share in the affordable and
health-conscious product segments
Target Customers: They target families, middle-income consumers, and health-
conscious individuals​
Direct Sales Strategy: Simply uses in-store promotions and online sales
Differentiation: Tuong An could differentiate itself by focusing on product
quality, health benefits, and niche markets such as organic oils
Distribution and Service: Simply distributes widely through traditional retail and
e-commerce channels
Simply has a low-cost strategy and broad distribution, while Tuong An could
differentiate by focusing on quality and targeting niche markets.
6.6. Research your competitors' sales tactics and results
Simply's sales and distribution process:
Sales Channels: Simply utilizes multiple sales channels, including supermarkets,
convenience stores, online retailers, and wholesale distributors
Sales Locations: Their products are available in high-traffic locations globally,
focusing on both physical stores and e-commerce platforms to ensure broad access

32
 Market Focus: Simply operates in broad consumer markets but also targets niche
segments like health-conscious consumers with margarine alternatives​ . They
expand into new regions while retaining a strong presence in existing markets.
Sales Programs: They offer structured programs to distributors, providing
promotional support, incentives, and product training​ . This helps in building long-
term relationships with distributors and retailers.
Revenue and Discounts: Simply’s revenue is influenced by market expansion
and frequent discount programs that attract new customers. These offers are often tied
to seasonal events or sales periods​
Sales Team Involvement: The sales team is actively involved in marketing by
receiving ongoing training and staying updated on product innovations, which
enhances customer engagement​
6.7. Refer to the prices that competitors deploy
Simply has the vast majority targeting the low-cost market segment. Tuong An
supplies oil in a variety of segments from low to high. Larger customer target, broader
market segment, more diverse products and a longer reputation than Simply. That is
also Tuong An's strength.
6.8. Ensure to meet competitive shipping costs
Tuong An set a revenue target of 5,266 billion VND and a pre-tax profit of 232
billion VND for 2021, showing slight growth compared to the previous year. The
company is undertaking expansion projects at its Phu My and Vinh oil plants, with a
total investment of 917 billion VND to increase production capacity and meet market
demand. To fund these projects, Tuong An uses its own capital, loans, and share
issuance.
In terms of distribution, Tuong An collaborates with the Kido Group to
distribute its products through domestic and international channels, while also
expanding its presence in the northern region to enhance its competitiveness and
increase market share.
The company also utilizes a competitive pricing strategy, coupled with
promotional programs, to maintain price competitiveness while ensuring product
quality, especially in the premium cooking oil segment.

33
6.9. Methods of analysis and next programs of opponents
Simply uses various marketing strategies, focusing mainly on direct sales and
brand awareness through online content and retail partnerships.
Blog Posts: They have some blog content aimed at educating consumers about
their products, although the number of posts may not be as extensive as larger brands.
Videos & Webinars: Simply publishes videos and webinars to share information
about their products and the health benefits of margarine and butter.
Podcasts: Simply offers podcasts where experts discuss the benefits and science
behind margarine and butter.
Static Visual Content: They use static visuals like infographics and simplified
imagery to make their content more accessible.
FAQ Section: Simply includes a FAQ section on their website to address
common customer questions about their products.
Online Advertising Campaigns: They run digital advertising campaigns but are
not as aggressive as larger industry competitors.
Their strategy is mainly focused on educating customers and building trust
around their health-conscious products, differentiating themselves through
partnerships and direct communication channels with consumers.
6.10. Analyze competitors' content strategy
To optimize Tuong An's company strategy, it is essential to analyze competitors'
content strategy, focusing on their brand image building, product video content, and
overall marketing approach.
A comparative analysis between Tuong An and Simply Oil companies' brand
image-building strategies should be carried out

34
 Brand Tuong An Simply
Young customers, those who
seek delicious food while Traditional customers who
Consumer group
maintaining their figure and prioritize health
health, families, etc
Credibility and innovation to Well-established and
Advantage approach customers traditional brand with wide
Wide distribution distribution.
Combination of nutrients from 100% pure brown rice and
Product positioning different processed oil-rich oil-rich seeds
seeds
Packaging design Youthful and modern Simple and brand-centric

Table 6.2: Comparative analysis of branding strategies between Tuong An and Simply
cooking oil companies
Promotional programs:
* Tuong An
Attracts consumers through promotions and lucky draws, contests, and discount
coupons.
Tuong An has previously conducted a lucky draw campaign for customers (April
25 - April 30, 2021) at markets and supermarkets nationwide. Customers who
purchase 1 liter of oil are eligible for a lucky draw. For retailers and grocery stores:
Purchase 1 box of oil to receive a scratch card (100% winning). At CoopMart
supermarkets in the Eastern and Western regions, Tuong An is launching the "Join
Tuong An to receive promotional gifts" program. In addition to ongoing in-store
promotions for Cooking Oil, Soybean Oil, Season Oil, Canola Oil, and ViO Extra
children's nutritional oil, consumers will receive additional promotions:
Purchase 1 bottle of 1-liter Cooking Oil, Soybean Oil, Season Oil, or Canola Oil
to receive 1 box of Season Margarine 80g.
Purchase 1 bottle of 2-liter Cooking Oil, Soybean Oil, or Season 1.8 liters to
receive 1 bottle of Tuong An Cooking Oil 250ml.
* Simply
Implements "buy one, get one free" promotions.
Purchase a 5-liter bottle of Simply cooking oil and receive a 1-liter bottle for free.
Enjoy a 20% discount on all oil products.

35
6.11. Researching competitor technologies
It's worth mentioning their utilization of SEO (Search Engine Optimization)
techniques.
- Regarding Simply: They organize community health initiatives such as free
heart check-ups. => This approach helps consumers perceive their brand as one
dedicated to heart health.
- User-friendly interface design: Ensuring the interface provides comprehensive
information for easy consumer search.
- Simply create high-quality blog content and product introduction videos:
○ Trends of using healthy cooking oil in family meals.
○ Addressing the benefits of Simply cooking oil for heart health: "What do
experts say?"
○ Example of Simply rice bran oil: Experts discuss the benefits of the
delicate bran layer in brown rice and recommend the product for heart health.
○ Customer stories using Simply products: "My family has been using
Simply for many years."
○ Building customer trust through real-world evidence.
6.12. Analyzing engagement based on competitor content
Information from positive comments found on a video with over 10 million
views (YouTube) posted on October 2, 2023: Most viewers left very positive
comments, agreeing that for a healthy heart, Simply is the top choice and a quality
option for delicious meals.

36
7. SWOT Analysis
Tuong An Cooking Oil is a long-standing domestic brand in Vietnam's edible oil
industry. Below is a detailed SWOT analysis:
7.1. Strengths
➢ Long-standing Brand
Tuong An is a well-known cooking oil brand in Vietnam, particularly in rural
areas.
The reputation was built over years of producing quality edible oil products.
➢ Affordable Products
Reasonably priced, catering to the needs of low- and middle-income consumers.
➢ Use of Local Ingredients
Prioritizes the use of domestic raw materials, supporting Vietnam's agricultural
economy.
Lower raw material costs compared to imported products.
➢ Extensive Distribution Network
Available in supermarkets, markets, and grocery stores nationwide.
Particularly prevalent in rural areas and small towns.
➢ Modern Production Facilities
Production facilities are equipped with advanced technology, ensuring food
safety and hygiene standards.
➢ Product Innovation
Diversification into premium product lines or specialty oils (e.g., seed oil, olive
oil).
Products cater to modern consumer trends, such as organic and non-GMO
(genetically modified organism) cooking oils.
7.2. Weaknesses
➢ Weak Brand Image in the Premium Segment
The brand primarily targets the low-to-mid price segments and struggles to
compete with international brands in the premium market.

37
 ➢ Weak Marketing Efforts
Few advertising campaigns on modern media platforms- advertising creates
trends on TikTok; underutilization of social media.
➢ Dependence on the Domestic Market
Low export rates, heavily reliant on domestic demand.
7.3. Opportunities
➢ Increasing Consumer Demand in Rural Areas
The growing middle class in rural and smaller provinces drives demand for
affordable cooking oil products.
➢ Export Market Potential
Opportunities to export to countries with Vietnamese communities or other
Southeast Asian nations.
➢ Demand for Healthy and Organic Products
It is rising consumer trends toward low-cholesterol oils, preservative-free, and
non-GMO cooking oils.
Investment in premium or specialty cooking oils can expand the market reach.
➢ Government Support Policies
The Vietnamese government encourages the use of local raw materials and
supports domestic manufacturing businesses.
➢ Growth of E-commerce
E-commerce platforms help Tuong An Cooking Oil reach younger customers
and urban markets.
7.4. Threats
➢ Intense Competition from International Brands
Major brands like Simply, Neptune, Tuong An (same industry), and imported
products dominate the premium market.
➢ Volatile Raw Material Prices
Global fluctuations in crude edible oil prices impact production costs.
➢ Strict Food Safety Standards

38
 Consumers are increasingly concerned about quality, origin, and production
processes. Food safety standards are becoming more stringent.
➢ Changing Consumer Habits
Some consumers are reducing oil consumption to pursue healthier lifestyles.
➢ Environmental Impacts
Environmental organizations are pressuring the cooking oil industry to use
sustainable materials and reduce carbon emissions.
To ensure sustainable growth and remain competitive in the market, Tuong An
Cooking Oil should enhance its marketing efforts by leveraging social media,
television, and community outreach campaigns to strengthen brand visibility and
appeal. Product innovation is crucial, with an emphasis on developing organic, low-
cholesterol, and specialty oil products to cater to modern consumer trends. Expanding
into export markets, particularly in Southeast Asia and Vietnamese communities
abroad, will diversify revenue streams and reduce dependence on the domestic market.
Investment in technology to upgrade production lines will improve product quality
and align with international standards, fostering trust among consumers. Additionally,
strengthening partnerships with major distributors and e-commerce platforms can
broaden sales channels and improve accessibility. These strategic measures will help
Tuong An capitalize on its strengths and opportunities while addressing existing
weaknesses and external challenges.
8. Conclusion
Tuong An oil is a Vietnamese enterprise, due to fewer advantages in raw
material sources and product distribution development strategies, the competitiveness
of Tuong An cooking oil (TAC) gradually decreases compared to previous times. In
the market, TAC is currently ranked second with 20% market share, far behind its
leading competitor Calofic. By becoming a subsidiary of KDC, Tuong An has been
restructured, adding investment capital, diversifying products, expanding the
distribution system, resulting in positive changes in production and business activities.
After joining Kido Group, TAC has made many changes, becoming more proactive in
accessing raw materials, changing business strategies, diversifying products and
promoting marketing.
In 2020, grasping that consumers are currently tending to choose cooking oils
derived from other oils such as soybeans, sunflowers, olives, peanuts, etc .The

39
company launched the Tuong An premium product line towards the high-end
customer segment. Thanks to revenue contributions from new products, the company's
revenue and profits achieved outstanding growth.
In terms of design capacity, currently TAC's design capacity is only equivalent
to 60% of Calofic. However, currently TAC is planning to increase the oil factory
capacity in Vinh from 40,000 tons/year to 150,000 tons/year. Thereby, production and
logistics costs can be reduced to help the company's products access the Central and
Northern markets. Currently, TAC is still exploiting the Southern market well.

40
REFERENCES

1. TUONG AN VEGETABLE OIL JOINT STOCK COMPANY. Accessed 10/02/2024.

https://www.tuongan.com.vn/en

2. Báo cáo Phân tích chiến lược Marketing Công ty cổ phần dầu thực vật Tường An, CTCP
DTV TƯỜNG AN, 2022

3. Daidoanket.Vn. (2022, January 5). Triển vọng ngành năm 2022: Các ông lớn Vinamilk,
Masan, Kido được hưởng lợi gì? daidoanket.vn. Accessed 10/02/2024.
https://daidoanket.vn/trien-vong-nganh-nam-2022-cac-ong-lon-vinamilk-masan-kido-duoc-
huong-loi-gi-10213952.html

4. Hayes, A. (2024, August 23). Market Share: What It Is and the Formula for Calculating It.
Investopedia. https://www.investopedia.com/terms/m/marketshare.asp#toc-market-share-
impact

5. Tiến Đ. (2020, October 13). Calofic và vị thế của “ông trùm” dầu ăn Kido Group.
Viettimes - Tin Tức Và Phân Tích Chuyên Sâu Kinh Tế, Quốc Tế, Y Tế.
https://viettimes.vn/calofic-va-vi-the-cua-ong-trum-dau-an-kido-group-post139233.html

6. Nguồn Chiến lược Marketing (06/08/2013), Dầu ăn Neptune, Simply át vía Tường An
https://www.tuongan.com.vn/vi/tin-tuc-tuong-an/mua-dau-tuong-an-nhan-qua-ngay.html

7. Tuong An company, (2018), Mua dầu Tường An - Nhận quà ngay.

https://www.tuongan.com.vn/vi/tin-tuc-tuong-an/mua-dau-tuong-an-nhan-qua-ngay.html

8. Tuong An company, (2018), Dầu Tường An tri ân khách hàng nhân dịp nhận danh hiệu
“Hàng Việt Nam chất lượng cao”. https://www.tuongan.com.vn/vi/tin-tuc-tuong-an/dau-
tuong-an-tri-an-khach-hang-nhan-dip-nhan-danh-hieu-hang-viet-nam-chat-luong-cao.html

9. Brade Mar, 15/10/2024, Product Portfolio là gì? Ví dụ về Danh mục sản phẩm của
Vinamilk, https://brademar.com/product-portfolio-la-gi-vi-du-ve-danh-muc-san-pham-cua-
vinamilk/

10. CÔNG TY CỔ PHẦN ĐÀO TẠO AIMACADEMY. https://aimacademy.vn/competitor-

analysis-review-phan-1-nam-bat-nguyen-tac-phan-tich-doi-thu-canh-tranh-hieu-qua/

11.Wilmar, (15 thg 8, 2019) , Dầu Gạo Simply - Dưỡng chất diệu kỳ từ Gạo Lứt, cho một trái
tim khoẻ. https://www.youtube.com/watch?v=1sOyvRnFQR4.

12.Tuong An Office, 12 thg 1, 2024, Dầu ăn Tường An cho món chiên GIÒN GIÃ, Đón năm
mới THÀNH CÔNG. https://www.youtube.com/watch?v=FraBWrQYpY8

41