Food firms urged to study market demand carefully to expand int’l reach

Food enterprises should study the market demand carefully together with branding strategies to expand their international reach, experts said.

According to Nguyen Dang Hien, Vice President of the Food and Foodstuff Association of Ho Chi Minh City, most enterprises had not paid adequate attention to developing marketing strategies and increasing brand recognition for international markets, although Vietnam was a major exporter of agroforestry – fishery products.

An estimate by the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade showed that agricultural products exported with brands would have added value 200-300% higher, even 500%.

Thus, it was critical for Vietnamese food enterprises to invest in building processing systems for high-quality agricultural products and increase branding in the international markets.

Hoang Van Viet from the University of Economics HCM City, said that enterprises could consider promoting digital marketing through social networks, YouTube, TikTok, websites and email.

In addition, enterprises should study the demand of the target markets carefully to develop strategic plans for expanding in foreign markets.

Bach Ngoc Hai Yen, Director of Greatlink Maihouse Investment Company, said that to expand in foreign markets, enterprises needed to build and maintain good relationships with customers, which would be the key to increasing competitiveness for Vietnamese food enterprises.

The focus should be on market study to develop appropriate marketing strategies and customer care solutions.

General Director of Cholimex Food Diep Nam Hai said that food companies should pay attention to developing supply chains to ensure the competitiveness of the products in terms of quality and price.

According to Hien, expanding exports was a solution for food companies in the context of low domestic market demand.

He said enterprises should eye potential markets such as China and India and markets in Asia – Pacific regions.

As consumers were increasingly aware of their personal health and environmental sustainability when choosing foods, enterprises should focus on developing products to meet the consumer demands, such as products of plant origin or organic products, he said.

Transition to green production was important, Hien said, adding that green production became an advantage for food enterprises.

Nguyen Ngoc Hoa, President of the HCM City Union of Business Associations, said the association’s survey found that enterprises with green production were having better orders than others in the context of economic difficulty.

Green production was a passport for many enterprises to penetrate and expand in international markets, he stressed.

Vietnamese food products were now present in around 180 countries and territories around the world./.

Source: Vietnam News Agency