Pepsico analysis in Viet Nam market, High school final essays of Mathematics

Download Pepsico analysis in Viet Nam market and more High school final essays Mathematics in PDF only on Docsity! SCHOOL OF BUSINESS GROUP ASSIGNMENT COVER SHEET STUDENT DETAILS Student name: Lê Uyên Nhi Student ID number: B1112014045 Student name: Bùi Quỳnh Khánh Hiền Student ID number: B1112015703 Student name: Nhan Bửu Phước Student ID number: 21000172 Student name: Lê Nguyễn Phương Mai Student ID number: 21000880 Student name: Nguyễn Bảo Lâm Student ID number: B1112013026 Student name: Võ Ngọc Anh Thư Student ID number: B1112014044 UNIT AND TUTORIAL DETAILS Unit name: International Business Unit number: IB-T222WSB-3 Tutorial/Lecture: Group Report Class day and time: Thursday, 15:30-18:45 Lecturer or Tutor name: Mr. Adam Briffett ASSIGNMENT DETAILS Title: PEPSICO Length: 3967 words Due date: 11/08/2022 Date submitted: 11/08/2022 Home campus (where you are enrolled): Vietnamese campus DECLARATION I hold a copy of this assignment if the original is lost or damaged. I hereby certify that no part of this assignment or product has been copied from any other student’s work or from any other source except where due acknowledgement is made in the assignment. 0 I hereby certify that no part of this assignment or product has been submitted by me in another (previous or current) assessment, except where appropriately referenced, and with prior permission from the Lecturer / Tutor / Unit Coordinator for this unit. No part of the assignment/product has been written/produced for me by any other person except where collaboration has been authorised by the Lecturer / Tutor /Unit Coordinator concerned. I am aware that this work will be reproduced and submitted to plagiarism detection software programs for the purpose of detecting possible plagiarism (which may retain a copy on its database for future plagiarism checking). Student’s signature: Lê Uyên Nhi Student’s signature: Bùi Quỳnh Khánh Hiền Student’s signature: Nhan Bửu Phước Student’s signature: Lê Nguyễn Phương Mai Student’s signature: Nguyễn Bảo Lâm Student’s signature: Võ Ngọc Anh Thư Note: An examiner or lecturer / tutor has the right to not mark this assignment if the above declaration has not been signed. 1 TABLE OF CONTENT I. Executive summary 3 II. Introduction 6 III. Discussion 1. Current business model and operations 7 1.1 Current business model 7 ● Key partners 7 ● Key activities 7 ● Channels 8 ● Key resources 8 ● Customer relationships 8 ● Revenue stream 8 ● Customer segments 9 ● Cost structure 9 1.2 Current business operations 9 a. Primary activities 9 ● Research and Development 9 ● Marketing 10 b. Strategy 10 c. Supply chain 10 1.3 International strategy 11 2. The entering process and entry mode 12 2.1 The entering process 12 a. Which - which markets to enter 12 b. When - when to enter those markets 13 c. What - on what scale 13 2.2 Entry mode - Joint venture 13 a. Timeline 13 b. Achievement 14 c. Relationship between the joint venture and transnational strategy 15 3. Issue analysis 16 4 3.1 Macro environment 16 a. Economic factors 16 b. Social factors 18 3.2 Micro environment 19 a. Suppliers & Distributors 19 b. Competitor 20 4. Recommended solutions 22 4.1 Solutions for macro environment: Healthy growth in the soft drink industry 22 4.2 Solutions for micro environment 22 a. Suppliers & Distributors: Quality Commitment 22 b. Competitor 23 IV. Conclusion 24 V. Reference List 25 VI. Appendix 33 5 II. INTRODUCTION PepsiCo, Inc. is one of the world's primary American food and beverage corporations headquartered in Purchase, Harrison, New York, USA (Disfold, n.d.). The original Pepsi-Cola drink was first invented by a pharmacist named Caleb D. Bradham in New Bern, North Carolina. Bradham dubbed the name Pepsi-Cola and began selling this cola-flavored carbonated beverage widely in 1898. Witnessing the drink's surprising success, Bradham decided to start his own business in 1902. It was not until 1965, when Pepsi-Cola Company merged with Frito-Lay, Inc., that the name PepsiCo was officially born (The Editors of Encyclopaedia Britannica, n.d.). Simultaneously, PepsiCo has expanded beyond its iconic product, Pepsi-Cola, to a vast array of food and beverage brands. As of January 2021, the business had 23 brands with estimated annual retail sales of more than $1 billion each. PepsiCo has globally operated with products sold in over 200 countries and territories, making a net revenue of more than US$70 billion in 2020. Therefore, PepsiCo has the world's second most outstanding net sales, profit, and market capitalization, just behind Nestlé in the same industry (Fortune, 2022). 6 ● Customer segments In order to pursue a consumer-centric strategy, PepsiCo expanded its business product segments to be successful locally in creating convenient foods and beverages. Indeed, it tailors products to a local market and reduces or modifies pricing to address market segments. ● Cost structure Most of PepsiCo's costs are spent on the Research and Development of product offices that are essential to meet customers' needs and specific demands. Under pressure for cost reduction, PepsiCo applied cost leadership by minimizing the operating cost to enhance financial performance and competitiveness with other competitors (Fergúion, 2017). This strategy is effective, especially for customers easily affected by price shifts. 1.2 Current business operations a. Primary activities ● Research and Development PepsiCo engages in various initiatives and invests in research and development on a global basis to fulfill altering customer desires and preferences while accelerating sustainable development. The international corporation has made significant investments in R&D, allocating roughly 35% of annual profits over the past five years, or around $719 million, to this endeavor (Statista, 2021). 9 ● Marketing Business is wholly understood to use KOLs as part of their marketing strategy to expand brand awareness. For example, PepsiCo invited BlackPink, a famous K-pop girl group, to become the ambassadors for the "Go All In For What You Love" campaign in 2020. Only 1 hour after it was uploaded to YouTube, it achieved millions of views. Another promotion strategy is social campaigns or CSR initiatives, which aim to engage people in global issues and offer meaningful values to compensate for adverse effects on the community's lives since PepsiCo may improve its public image. b. Strategy As part of the business's "Human Sustainability" goals, PepsiCo's operations management strives to deliver the highest-quality products (Gregory, 2017). One example of a better variety of PepsiCo goods is the new product line, low-calorie Pepsi. Besides, PepsiCo applies concentrated production to reduce the cost pressure, which leads to low marginal costs. c. Supply chain PepsiCo adopted a decentralized purchasing approach to boost efficiency and managed numerous production facilities in several locations (Ehrhardt et al., 10 2014). Moreover, PepsiCo always keeps tight ties with its suppliers to avoid challenges in the industry and maintain a pool of devoted clients. To offer foods and beverages in a timely and cost-effective manner, PepsiCo has various plants owned or outsourced by other producers worldwide (Tashi Bleau, 2015). Thus, they can fulfill global demand and realize economies that can deal with cost pressures. Meanwhile, PepsiCo's intricate supply chain and distribution enable them to compete effectively with other snack and beverage companies. PepsiCo is a company that uses the "Direct to Store Delivery Model" method more efficiently, which helps minimize the number of days a product spends in the supply chain process (PepsiCo, n.d.). In addition, the approach used by PepsiCo aids in preserving enduring connections with all types of clients that help them to enhance their products and services while also working with retailers via a unique customer focus group called Retailer Advisory Councils (ibottling, 2022). 1.3 International strategy PepsiCo changed its operations from a globally standardized approach to a multinational one. Specifically, businesses decide to tailor certain aspects of their operations to the demands and constraints of regional markets. They form strategic alliances with various stakeholders, including suppliers, distributors, manufacturers, and customers (Transnational organization, 2011). It must also work with local partners to create cost-effective manufacturing and distribution strategies and systems. Therefore, PepsiCo Companies must have international knowledge and the ability to modify many aspects of its business model to meet the specific needs of a new entry market (Transcultural synergy, 2011). However, due to the increased inflation, which raises the dollar's value and impacts business finances with national health sugar restrictions, it is necessary to accept local feedback and the obligation to operate on a global scale. Based on PepsiCo's strategic direction and orientation techniques, it can be concluded that PepsiCo is taking a transnational strategy with its solid global integration and high local responsiveness. 11 ● Stage 2: 100% foreign stocks company - In 2003: Suntory PepsiCo sold all of its shares in the joint venture company for PepsiCo Global Investment II B.V. From this transaction, IBC transferred from the joint venture mode to a 100% foreign stock company, and its name was also changed to International Soft Drink Company PepsiCo Vietnam. - In April / 2013: a strategic alliance was established between Suntory Holdings Limited and PepsiCo, Inc., of which Suntory owned 51%, and PepsiCo owned 49%. - In 2014: the business officially changed its name to Suntory PepsiCo Beverage Vietnam (SPBV). b. Achievement Over ten years of development, SPBV acquired precious assets such as 11 renowned brands (Aquafina, Mirinda, e.t.c.) and six state-of-the-art factories scattered across Vietnam. According to Etoro (2022), its total revenue was approximately 20.23 trillion VND, and its net income was 1.45 trillion VND. Moreover, SPBV ranked first in the Top 10 prestigious beverage companies in 2020 - Industry group: Non-alcoholic beverages (Vietnam Report, 2021). Expressly, they set up a hierarchical distribution structure in Vietnam, which is: Produce → Wholesale → Retail → Consumer In general, wholesalers can be seen as retail management and warehouse. In a region, one or two wholesalers often are responsible for motivating PepsiCo with more resources and ensuring its interests. Below the wholesaler’s level, PepsiCo supplies products through retailers such as supermarkets, convenience stores, fast food restaurants, e.t.c. They also distribute at pharmacies, grocery shops, and virtually every other establishment where customers would stop by to pick up a bottle of Pepsi to expand their network. 14 c. Relationship between the joint venture and transnational strategy Using the joint venture method, PepsiCo could reduce the need to be locally responsive by utilizing a local partner's expertise in the market, culture, business practices, and operational experience. Secondly, it is unavoidable that development expenses or risks will increase when businesses enter the foreign market; however, the firm may share these costs and threats with their local partner. Finally, due to political considerations, joint ventures are the only practical entry mode in several countries. According to Hill et al. (2016), "Research suggests joint ventures with local partners face a low risk of being subject to nationalization or other forms of adverse government interference." Therefore, it can handle administrative procedures and paperwork, distribution channels, and government policies. 15 3. Issue analysis 3.1 Macro environment a. Economic factors According to the Vietnam Report (2020), up to 50% of enterprises in the beverage sector were substantially impacted by COVID-19. A consumer survey by Vietnam Report (2020) indicated that beverage consumption had lowered significantly during the COVID-19 pandemic due to the changes in consumer consumption behavior. The global recession, shortage of requirements, and financial pressure have a direct impact on people's fundamental needs in terms of purchasing habits. 16 Based on several studies, soft drinks include carbonated chemicals and sugar which can easily ferment in the intestines. Thus, after a drink, consumers feel without having other snacks or meals. Additionally, it is believed that drinking carbonated beverages makes them simpler to digest and minimizes digestive problems (Bach Mai Hospital, 2017). However, for those with poor digestion or colon disease, drinking carbonated water, in fact, can stimulate the lining of the stomach and intestines, causing abdominal pain, flatulence, and exacerbating sickness (Bach Mai Hospital, 2017). According to Dr. Vu Thanh, it is the added colorants, acidifiers, and carbonates that cause negative impacts on consumers' bodies (Bach Mai Hospital, 2016). Besides that, almost fizzy drinks contain both CO2 (the ingredients generating sour flavor) and Aspartame (saccharose), and when both of them are combined can cause harm to people's health. According to the U.S Department of Defense, blood cancer is mainly brought on by Aspartame and it is listed as one of the addictive substances. With the problems mentioned above, it is clear that the beverage industry is encountering challenges in its commitment to maintaining consumer health. 3.2 Micro environment a. Suppliers & Distributors Wholesalers and retailers are trend-conscious merchant intermediaries who understand customer preferences entirely in a particular place. However, PepsiCo cannot eliminate the issues related to the intermediaries in the delivery of commodities. For instance, there are a large number of disputes caused by intermediaries. One intermediary may feel inferior to the others out of jealousy or for other reasons. These conflicts can make the distributors fall short of their goals, leading to the firm's failure. According to a VNR report (2021), the quality of raw materials in the food and beverage industry is one of the massive problems that many businesses face. Take PepsiCo in Vietnam as a primary example. In 8/2019, there were an 19 excessive number of Pepsi bottles that had been inflated, dented, or even water leaked outside at BigC supermarket in District 2 even though the expiry date is still on (Huong & Kien, 2019). After receiving the reflection of the customers, the representatives of Suntory PepsiCo VietNam stated that the customers might open the lid and continue drinking as usual even if the bottle cap is bulging. However, Master Nguyen Huu Quyen - Head of the Food Engineering Department, Ho Chi Minh City University of Food Industry, stated that the deformation of bottles indicates that the food within is dangerous and puts the consumer's health in jeopardy. Moreover, BigC declared that it was not their fault; because PepsiCo's distribution channel had a problem that led to the bottle being out of shape. Therefore, it is evident that PepsiCo's input material resources initially had issues, which then caused the Pepsi bottles to inflate during distribution. b. Competitor According to the Tien Phong newspaper (2021), tea is Vietnam's most popular product model, accounting for 36.97% of the total market share. As a result, energy drinks ranked second with 18.28 percent, followed by fruit juices at 10.91 percent and mineral water at 5.45 percent. According to a survey by the Beer-Alcohol-Beverage Association, Coca-Cola currently holds a market share of over 41 percent in the beverage industry, followed by PepsiCo at roughly 22.7 percent, Tan Hiep Phat at 25.5 percent, and other small businesses with the remaining 10.5 percent. 20 Consumers are particularly concerned about their physical health with the modern lifestyle trend. Therefore, food with components of sufficient nutrition, organic, clean, and environmentally friendly would be a promising development goal for firms in the Vietnam beverage industry. As the Vietnam report (2021) shows, in Hanoi and Ho Chi Minh City, more than 86 percent of buyers choose fresh or natural goods to safeguard their health. The competition has recently increased as consumers demand new product lines and tastes. For example, Tan Hiep Phat has launched the "number 1" energy drink, while other brand names offer more drinks made from aloe vera and bird's nest juice. In contrast, instead of developing the current product line, PepsiCo used a market expansion strategy, which led to the failure of Pepsi One, Pepsi Lemon, and Pepsi Max. 21 IV. CONCLUSION In summary, PepsiCo is well recognized worldwide as a pioneer in the beverage market as well as a vital player in the snack industry. However, in order to enter the foreign market, the firm must consider its core key competencies, potential possibilities, limitations, and difficulties. Furthermore, any corporation that wishes to implement an effective international business strategy must combine some activities and methods. With PepsiCo in Vietnam, they were wise in choosing a transnational strategy which helped the company reduce costs and increase local responsiveness. However, PepsiCo must deal with the issue of changing economic conditions, the cost of raw materials, and the growing popularity of healthy beverages. That is why they continually modify their approach to solve macro and micro issue analyses, such as diversifying drinking portfolios and ensuring the supplying quality management. 24 REFERENCES About. (2022). Retrieved 10 August 2022, from https://pepsisupplychain.weebly.com/about.html Andrew, G. (2022). Clinton ends Vietnam trade embargo: Feb. 3, 1994. 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Retrieved from https://suckhoedoisong.vn/canh-bao-nguoi-viet-tieu-thu-duong-gan-gap-doi-khuye n-cao-169145573.htm Suntory PepsiCo Việt Nam – 20 năm phát triển bền vững. (2022). Retrieved 10 August 2022, from https://danviet.vn/suntory-pepsico-viet-nam-20-nam-phat-trien-ben-vung-7777542 188.htm StudyMoose. (2022, July 6). How Competitors Affect Competitive Advantage of Pepsi? Free Essay Example. Retrieved from https://studymoose.com/how-competitors-affect-competitive-advantage-of-pepsi-e ssay?fbclid=IwAR1yINgPuPPISAD_UVfnNsU8BK5ZJqZjft1MG-RAaKojKQJYF8W yfrX2OUg 30 Thanh Thu. (2022). Hai thập kỷ chinh phục thị trường Việt của Suntory PepsiCo Việt Nam. Retrieved 10 August 2022, from https://vnexpress.net/hai-thap-ky-chinh-phuc-thi-truong-viet-cua-suntory-pepsico-vi et-nam-3512846.html#:~:text=%C4%90%E1%BA%BFn%20n%C4%83m%202003 %2C%20SPCo%20b%C3%A1n,Qu%E1%BB%91c%20T%E1%BA%BF%20Pepsi Co%20Vi%E1%BB%87t%20Nam TH. (2022). Quá trình hình thành và phát triển của Pepsi tại Việt Nam. Retrieved 10 August 2022, from https://thitruongbiz.vn/qua-trinh-hinh-thanh-va-phat-trien-cua-pepsi-tai-viet-nam-12 54.html Thị Trường Nước Giải Khát Việt Nam & Số Liệu Thống Kê Phân Tích - Kiến Thức Cho Người lao Động Việt Nam. (2022). Retrieved 10 August 2022, from https://laodongdongnai.vn/thi-truong-nuoc-giai-khat-co-gas-o-viet-nam-164910276 7/#Thi_truong_nuoc_giai_khat_voi_nhung_con_so_an_tuong Toàn cảnh ngành thực phẩm - đồ uống Việt Nam năm 2021. (2022). Retrieved 10 August 2022, from https://tienphong.vn/toan-canh-nganh-thuc-pham-do-uong-viet-nam-nam-2021-pos t1386310.tpo The Editors of Encyclopedia Britannica (n.d.). PepsiCo, Inc.: American company. Retrieved from https://www.britannica.com/topic/PepsiCo-Inc Vietnam Investment Review. (2018, November 7). Soft drinks see hard competition. Retrieved from 31 Appendix 3: From: 1985 To: 2023 Zoom: SY 10Y 20Y 30¥ All 200 3 3 200 2 2 100 5 sen * 2,000 3 soon ie g, a. ‘eal lh Tl 2 Ball a= 1985 1990 1995 2000 2005 2010 2015 2020 Vietnam's economic growth rate in 1985 - 2022 (World Bank Data) Appendix 4: 50.0% 50,0% TOAN NGANH @ Vic dng nghiém trong @ Vic ding nghiien trong vita phat @ Vic ding it, thing déng ké @ khsing chia técdéng Impact of the COVID-19 epidemic on the production activities of enterprises in general 34 Appendix 5: Nay vierwam REPORT Thuc phim tng cuéng dinh duéng, hé mién dich Thuc phim cé nguén gc ty nhién va hitu co (VD: khéng bién 4éi gen...) Thyc phém sach va lanh manh (VD: khéng c6 gluten...) Thuc pham c6 nguén géc dia phuong Sifa va cac san pham tif sifa (bao gm ca sita hat) Gao, ngii céc va cdc san phim ng} Thuc phdim tuoi sing Thuc phdm tién Igi, dng géi Thyc phdm dong lanh Nuéc khoang Caphe Tra Bia, rugu Thuc phdm nhap khdu ° 20 40 60 30 100 @ fangien @ khong thay a6i @ Giima Consumer monthly spending on certain food and beverage groups changed after the Covid-19 outbreak Appendix 6: WR Viera m1 Nhu cu d6ivi mating reir) Ce oren) KHG KHAN DOANH NGHIEP GAP PHAI DO COVID-19 ——_ i AR} DS Un Cr py Perec ec ar] Top 5 difficulties businesses face due to COVID-19. 35 Appendix 7: Nhiing kho khan I6n nhat ma doanh nghiép dang d6éi mat Bén ngodi | Bén trons %.35. DN Lan séng I&y nhiém/bing phat COVID-19 moi Cac vin dé lién quan dén logistics, phn phéi Bam béo an toan y té va lao déng tai noi lam viée Tac déng cba suy thoi kinh té toan céu: Thay d6i hanh vi ca ngués tidy ding Tac dong cla COVID-19 dén thus, thuang mai Nhu céu tidy thy déi vol mst hang cua ON khOng cao trong giai doan dich bénh Kh& nna nhanh chéng diéu chinh €o c4u chi phi dé dap ung nhu céu Giam quy m6 nhdn su va nang sust Kha n&ng quan ly higu qua cde mé hinh lam vide két hop tis xa va tai chd Appendix 8: BIEU DO THI PHAN NUGC GIAI KHAT TAI VIET NAM (Bon vi: %) Beverage market share in Vietnam (%) 36