A Book Reveals the Secrets to Tan Hiep Phat’s Success
|Uyen Phuong Tran and her book "Competing with Giants". Photo: Zing News|
From the book to practical implementation
Uyen Phuong Tran, Deputy CEO of Tan Hiep Phat Beverage Group, is the author of the book “Competing with Giants” which has inspired thousands of readers with the spirit “Nothing is impossible”. The book shares real-life stories of Tan Hiep Phat Group - the enterprise that had turned down Coca-Cola’s offer to buy its business and is now building a sustainable Vietnamese business.
After the success of the first book "The story of Dr. Thanh", businesswoman Uyen Phuong Tran asserted herself more in the work "Competing with Giants".
"Competing with Giants" revolves around the process CEO Than Qui Tran built Tan Hiep Phat company from empty hands and later became one of the largest beverage businesses in the Vietnamese market, even surpassing Coca Cola, Pepsico in several categories.
Phuong has highlighted the spirit “Nothing is impossible” – the fundamental philosophy that helps Vietnam gradually become Asia's new economic tiger.
Forbes earlier launched the book in the US. The event has made Vietnam and international headlines. Major US news agencies all dedicate a special position to publish photos of Phuong and the book “Competing with Giants” as a respect for a local Vietnamese company's desire to reach out to the world.
|Phuong and her family. Photo: VNE|
The message given by Phuong is not only written in her book but also proven on every action of Tan Hiep Phat Group
According to the businesswoman, the best marketing tip for a local company is simply to do more for less. To realize this, local companies need to exploit every natural advantage, using the classic 4Ps of marketing: location, price, production, and promotion.
This approach has been helping Tan Hiep Phat increasingly assert its position – a local company that promotes its friendliness with customers, creating a successful product based on the understanding of customers’ demand.
The crisis makes us more flexible and adaptable
“Local companies can bring products to market much faster than multinationals because they understand the domestic market. Even when expanding into new product lines, local companies can act quickly,” Phuong shares Tan Hiep Phat's secret to success.
"Gone are the days we waited for an unknown day everything would return to the way it was. We need to adapt, I think the time living during the pandemic has been long enough for people to understand that this is reality, the new normal," shared Tran Uyen Phuong.
The Covid-19 epidemic is likened to a "black swan" in history, disrupting many businesses. Although all establishments have anticipated the risks they might encounter, perhaps no business has anticipated this "tragedy".
To do so, centralized leadership will replace decentralization, so that all decisions are made quickly. Similarly, for the retail distribution system, the corporation has to change its previous way of doing business. Many consumers change their spending habits as their incomes decrease during the pandemic. Therefore, the value and convenience will "entice" consumers to be loyal to the familiar product.
Therefore, in order to maintain the retail system, corporations must extend their promotions and discounts time, ensuring that the retail system is still profitable. They should also increase online sales with the price and quality of products remain stable.
All of the above improvements require financial resources. In the midst of many financial difficulties while implementing the "3 on-site", businesses still have to make efforts to improve, because there is no other option.
“Tan Hiep Phat is willing to sacrifice immediate benefits for medium and long-term goals,” Phuong said. This is also Tan Hiep Phat's answer in the midst of multiple difficulties and challenges caused by the Covid-19 pandemic, but it still decided to spend a lot of money to meet the "3 on-site" production demand with the motto “Nothing is impossible”.
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