Last updated: Monday, May 20, 2013
Vinh Tien Ltd: Continuous Renovation for Better CompetitivenessPosted: Wednesday, June 20, 2012
From a small production establishment which was established ten years ago, Vinh Tien Limited Company has become one of the leading enterprises in Ben Tre in manufacturing confectionary products from coconut. Talking about the success of the enterprise, Ms Dang Thi Truc Lan Chi, Director of Vinh Tien, said that establishing the brand name while implementing renovation and maintaining product quality are among the secrets bringing Vinh Tien to higher level. My Ngoc reports.
Beside the above mentioned “guiding tool”, what other secrets do you have in operating and developing Vinh Tien, particularly in the current context of economic difficulties?
In the economic crisis, many companies run into difficulties. Vinh Tien is not an exceptional case. However, the company still stands firm and overcomes obstacles in order to maintain stable production. This is attributed to strategies including: segmenting the market to identify potential markets to focus on; conducting regular research and renovating technology to improve product model and quality, reduce product price to enhance product competitiveness; regularly developing and applying advanced quality management system to control product quality and production processes while applying more hygienic and energy-saving production technology; and diversifying products to avoid business risk. So as to improve competitiveness capacity, the company has set forth the market segmentation strategy so-called “111” (one brand name for one agent and one market). The strategy aims at mobilizing all the resources for developing at least one brand name for one certain market.
How do these strategies influence the company’s business, madam?
Thanks to effective application of identified strategies, the company has witnessed continuous growth, stable production, increasing product volume and market expansion, particularly in the Chinese market. The brand names of Yen Hoang and Tien Dat are gaining firmer positions in the market and more and more consumer confidence. In 2011, the volume of coconut candy for export increased by 15% against that of 2010 and hit 1,500 tonnes. In QI 2012, the volume of exported candy nearly reached 400 tonnes. The new product of the company, coconut cake, is also well consumed.
What difficulties is Vinh Tien facing?
In 2011, though the company still maintained stable production thanks to the abundant locally produced material source, application of traditional technology and low labour cost, Vinh Tien was still challenged with quite a few difficulties, particularly in year-end months.
How much attention has Vinh Tien paid to protection of its brand name?
Considering brand name to be the priceless intangible asset, since its foundation the company has always been aware of and had strategy for development and protection of its brand name via registration for protection of trademark, within the country and overseas as well, with a view to guaranteeing the rights of export products.
It is known that in addition to effective business activities, Vinh Tien also participates enthusiastically in community activities. Could you please tell us about such activities, madam?We strive to become a socially responsible enterprise via contribution to charitable activities inside and outside the locality, including participating in the committee of poor patients and disabled people of Ben Tre province; contributing to and calling for social contribution to supporting surgery for poor and handicapped children with ill hearts; offering scholarships to poor studious students; participating in the bridge and road technical association to mobilize and provide financial assistance to build schools, bridges and roads in rural area, etc. The company annually spends several hundred million Vietnam Dong on such activities.