|Five Steps to Success: Create authentic local products|
|The financial struggles of Phuong Uyen Tran's parents in early age|
|Media campaign considered one of key factors behind Tan Hiep Phat's success|
|Phuong Uyen Tran and her father Thanh Quy Tran|
Extended families are becoming a thing of the past, and children no longer feel the necessity to obey their parents or call them every day. Instead, their parents, usually the mother, strive to remain involved (some might say in control) in their children's lives by them on social media instead.
|When we launched Zero Degree Green Tea, its SUCCCESS was immediate, and many competitors jumped into the market after us. We exceeded our twelve-month sales target within two months. In 2006, we started off selling ten thousand cases per day. Today we sell over a hundred thousand|
Shortly after, PepsiCo was back with Lipton Pure, and later Tea+, while the Philippines Universal Robina Corp launched C2 and Coca-Cola introduced Tea Leaf. But THP had the first-mover advantage. Today, Zero Degree Green Tea still enjoys the largest market share in the green tea market category.
One other key consideration was pricing. The research we commissioned suggested that the optimum retail price should be VND5,500 and that the product would fail if it were priced at, say VND6,000. My father considered the research and concluded that the market for green tea was more elastic than the research seemed to recommend. THP's Zero Degree Green Tea was launched at VND6,000 and quickly became the market leader in the RTD green-tea space in Vietnam. It demonstrated, once again, that getting the Four Ps right and building a winning a brand is an art as well as a science.
The history of the energy-drinks sector shows how brands typically derive inspiration from each another, with each individual brand applying a unique twist, which sets it on its own distinctive path. Mateschitz's talent was to re-configure Red Bull for Western tastes and then turn it into the world's first truly globalized energy drink.
My father's genius was to spot this trend early and develop a similar brand that better suited the Vietnamese palate. In particular, he thought Red Bull was too strong and too sweet.
|THP's Number 1 Energy Drink has a tangier flavor. It contains vitamin B3, which aids the conversion to glucose; taurine, which enhances absorption and helps regulate heartbeat and energy levels; inositol, which aids the nervous system and serotonin modulation; and caffeine, which stimulates the nervous system|
He also thought Red Bull got the second "P" wrong as well: price. He thought it was too expensive for Vietnam's then-GDP per capita.
His solution was to ditch the kind of disposable can Red Bull was using and use a glass bottle that could be recycled. This meant consumers would not need to pay for the cost of the packaging, and ticked so my father thought he had the product, price, and price and my father would be able to sell his product for a cheaper still make a decent margin off the list.
In the past few years, especially in 2018, Tan Hiep Phat and Tran Uyen Phuong are among Vietnamese names in the field of business that appear the most on international media because of their stories inspiring co-startups as well as millions of consumers around the world.
That Forbes first published the book “Competing with Giants” by a Vietnamese businesswoman has help promote the name of “rich man” Tan Hiep Phat.
Afterward, in the minds of many consumers, each water bottle is not only a drink but a crystallization of the desire to overcome difficulties and the spirit of entrepreneurship, an organic trend and Vietnam of miraculous stories.
And also from this book uncovered the aspirations of Tan Hiep Phat, as Mr. Hiroshi Otsuka, President and CEO of Musashi Seimitsu said: “An unmissable insight into how and why Vietnamese businesses are quietly growing into global players.”
|About author Phuong Uyen Tran |
Working as a powerful businesswoman, Forbes published author, Phuong Uyen Tran is a model of success in Vietnam. Phuong Uyen Tran is also a special contributor for Vietnam Times. Her writing, including “Competing with Giants” book, and her latest articles are to advise and inspire young people to start-up, overcome challenges and reach out to the world. It is the story of a little girl taking the great responsibilities for a corporation and devoting herself to society.
|2008 - the booming year of Tan Hiep Phat |
Back in 2008 THP was the biggest advertiser in Vietnam. Tan Hiep Phat was everywhere: on billboards, on TV, in magazines, and all over social ...
|Phuong Uyen Tran's father and mother harmonious traits: Yin and Yang building Tan Hiep Phat's success |
While Mr. Thanh Quy Tran is an extremely logical person who has visionary, full of ideas and always eager to experiment, Mrs. Nu Thi Pham ...
|Five Steps to Success: Setting Price |
Price, which determines the company's profit margin and has a profound impact on the marketing strategy, is considered one of the most basic elements for ...
Phuong Uyen Tran