Từ Hoàng Sang

Phạm Thanh Trực

Trần Vũ Mạnh Dũng

Title: TH True Milk's international marketing strategy in Singapore

1.Executive Summary:

Leading Vietnamese dairy producer TH True Milk is preparing to enter the vibrant
Singaporean market. In order to appeal to Singaporean consumers, TH True Milk is
positioned in this report as a premium, genuine, and culturally rich dairy brand. It also
provides an overview of the company's extensive international marketing plan. The plan
combines influencer partnerships, digital storytelling, product adaptation, sustainability
programs, and experiential marketing to create a significant and long-lasting presence in
the Singaporean market. The cornerstone for engaging with the refined tastes and values
of the Singaporean consumer base will be TH True Milk's dedication to quality,
authenticity, and sustainability.

2.Marketing Situation

With a substantial market share and strong competition from both domestic and foreign
brands, TH True Milk is a dominant force in the dairy sector in Vietnam. The company's
success stems from its steadfast dedication to authenticity and superior quality, which
cultivates customer confidence and allegiance in a cutthroat industry. The brand has a
positive and long-lasting reputation because it is well-known for representing the ideals
of purity, trust, and devotion to traditional Vietnamese craftsmanship.

The product line of TH True Milk, which includes yogurt, fresh milk, and other dairy
derivatives, shows that it is attentive to the needs of its customers. Its broad appeal across
demographics is largely due to the company's innovative introduction of varied flavors
that flawlessly correspond with the developing tastes of Vietnamese customers.
Vietnam's marketing strategy is distinguished by broad efforts on traditional and digital
platforms. Through engaging narrative and partnerships with regional influencers, TH
True Milk successfully conveys its beliefs, history, and dedication to quality. The
company has effectively capitalized on the health-conscious trend that is currently
sweeping the Vietnamese market by presenting its goods as natural and nourishing
answers to consumers' changing needs.

Due to the company's extensive distribution network, products are widely available in a
variety of retail channels, including traditional markets, convenience stores, and
supermarkets in both urban and rural locations. Customers' faith in TH True Milk is
further strengthened by its stern adherence to Vietnamese regulatory standards for food
safety and quality.

Beyond its market presence, TH True Milk has made progress in Vietnam's sustainability
campaigns. The brand's image is positively impacted by these initiatives, which range
from eco-friendly packaging to supporting regional farming communities. These efforts
are in line with the growing emphasis on corporate responsibility and sustainability.

The strong base that TH True Milk built in Vietnam—which is marked by a favorable
brand image, a wide range of products, and a dedication to sustainability and quality—
provides an essential basis for the company's entry into new markets, including
Singapore, as it considers growing into international markets.

The foreign market, especially Singapore, offers opportunities as well as hurdles for TH
True Milk's expansion. To determine the critical elements impacting the company's
success in this new endeavor, a comprehensive analysis is required.

3.Statement of problem

3.1 PESTLE Analysis

Political: The political landscape in Singapore is stable, providing a conducive

environment for business operations. However, adherence to strict regulatory standards
and compliance with local policies is crucial. Changes in government policies related to
dairy imports may impact market entry.

Economic: Singapore's robust economy and high per capita income offer an opportunity
for premium dairy products. However, economic fluctuations and consumer spending
patterns may influence the affordability and demand for TH True Milk products.

Sociocultural: Understanding cultural nuances in Singapore is essential. Preferences,

tastes, and dietary habits may differ significantly from the Vietnamese market. Cultural
adaptation in product offerings and marketing strategies is critical for consumer
acceptance.

Technological: It's critical to embrace new developments in distribution and marketing

channels. Digital marketing technologies and e-commerce platforms should be used to
increase brand awareness and customer interaction.

Legal: Adherence to Singapore's stringent laws governing food safety and labeling is
critical. Careful consideration must also be given to the legal aspects of trade agreements
and intellectual property protection.

Environmental: Eco-friendly and sustainable methods address both local and worldwide
environmental issues. Putting green initiatives into practice can help businesses succeed
in the long run by improving consumer image.

3.2 SWOT Analysis

3.2.1 Company Distinctive Advantage

Strengths: Genuineness and Quality In the cutthroat dairy industry, TH True Milk's
dedication to superior quality and age-old workmanship sets it apart and offers a
distinctive selling opportunity.

Name Recognition: Gaining trust and credibility in the Singaporean market can be
accomplished by utilizing the favorable brand perception in Vietnam.
diversified Product Portfolio: TH True Milk has the ability to accommodate a wide range
of consumer tastes thanks to its original flavors and diversified range of products.

Weaknesses:

Cultural Adaptation: It could be difficult to modify goods and advertising tactics to suit
Singaporean tastes.

International Market Experience: Navigating Singapore's distinct market dynamics may

require a learning curve for those with limited prior experience in other markets.

3.2.2 Attractive Market

Opportunities:

Growing Health Consciousness: TH True Milk has the chance to establish itself as a
supplier of natural and nutrient-dense dairy products by appealing to Singapore's health-
conscious consumer base.

Premium Market Potential: Singapore's high per capita income suggests a market for
authentic and high-end dairy products, which TH True Milk's products fit into.

Threats:

Intense Competition: Due to the highly competitive Singaporean market, TH True Milk
must successfully set itself apart from well-established domestic and foreign rivals.

Regulatory Difficulties: It may be difficult to operate under strict rules and in the event
that import/export laws change.

4.Marketing objective

To guarantee a strong market launch and long-term growth, TH True Milk's worldwide
marketing objectives are carefully planned for its introduction into the Singaporean
market. Within the first year, the main goal is to establish TH True Milk as a premium,
genuine, and health-conscious dairy brand. To this end, methods include focused digital
ads and partnerships with local influencers. A measurable target of obtaining a 10%
market share in the first two years highlights the desire to successfully enter the
Singaporean dairy sector. The strategic necessity of cultural adaptation is emphasized,
requiring a sophisticated comprehension of local tastes and the launch of product variants
that appeal to the wide range of preferences of the Singaporean customer base in a short
six-month period.
One of the main goals is to position TH True Milk as a pioneer in environmentally
conscious methods for the Singaporean dairy sector. This entails using environmentally
friendly packaging and making sure that marketing campaigns effectively convey these
efforts. It is anticipated that the positioning of TH True Milk as an ecologically and
socially concerned brand will be well received by the astute Singaporean customers.
Establishing a faithful clientele is an additional crucial goal, achieved through the
execution of a customer loyalty scheme and proactive participation on social media
platforms. The objective is to attain a twenty percent rise in customer retention during the
first year of operation, underscoring the significance of continuing client relationships for
the brand's prosperity.
A 15% rise in revenue from TH True Milk's Singapore operations is one of the goals in
terms of finances within the first year. This demonstrates the business's dedication to both
profitability and market performance, requiring flexible marketing tactics derived from
in-the-moment consumer feedback and extensive data.
TH True Milk's strategic goal for Singapore is essentially captured by these diverse
worldwide marketing objectives, which cover brand building, market penetration, cultural
adaptation, sustainability, consumer involvement, and financial performance. The
cyclical character of these goals highlights a dedication to adaptability and ongoing
enhancement in reaction to the dynamic and cutthroat Singaporean industry.
5.International Marketing Strategy
5.1 Market entry Strategy
Mergers and Acquisitions
TH True Milk intends to strategically participate in a merger or acquisition to capitalize
on the assets and local expertise of an existing operator in order to achieve a dynamic
market entry into Singapore. This strategy fits the company's objective of quickly
entering new markets and successfully adjusting to different cultural norms.
Direction: To strengthen its position in the Singaporean market, TH True Milk plans to
investigate possible acquisition targets among well-known local dairy producers or
distributors. Through the smart acquisition of a business with a track record of success
and a thorough grasp of local customer tastes, TH True Milk hopes to quickly enter new
markets and successfully negotiate cultural quirks.
Rationale:
TH True Milk can take use of the acquired company's connections with regional
suppliers, tap into an established distribution network, and get quick access to established
retail channels with this merger and acquisition approach. Furthermore, a quicker
adjustment to the distinctive features of the Singaporean market will be made possible by
the knowledge transfer from the purchased firm.
Implementation:
To choose a qualified local partner, a rigorous due diligence procedure is necessary for
the implementation of this strategy. With a focus on maintaining important facets of the
acquired company's brand identity and operational strengths, the acquisition will be
handled as a cooperative endeavor. The goal of this strategic alignment is to facilitate a
seamless transition and ensure that TH True Milk is successfully integrated into the
Singaporean market.
Benefits:
There are many advantages to using this merger and acquisition strategy. It facilitates
information transfer, quickens market entry, and reduces the risks involved with entering
a new market on one's own. A strong foundation for success is created by the synergies
between the local partner's comprehension of the dynamics of the Singaporean market
and TH True Milk's dedication to quality and authenticity.
5.2 Strategic Marketing Approach: Adaptation
The best strategic marketing plan for TH True Milk's introduction into the Singaporean
market is adaptability. The success of the brand in this new market depends on modifying
the marketing methods to suit local preferences, tastes, and customs given Singapore's
distinct cultural landscape and consumer base.
Rationale:
Given Singapore's cosmopolitan and diversified population, a nuanced strategy that
respects and appeals to different customer segments is necessary. A closer relationship
with the target market can be achieved by customizing the marketing mix to the unique
requirements and preferences of Singaporean consumers, from product offerings to
communication tactics.
Product Adaptation:
TH True Milk will modify its range of products to suit the unique needs and inclinations
of the Singaporean consumer base. This entails adding tastes and variants that correspond
with regional culinary inclinations in order to make sure that the product line reflects a
knowledge of the varied customer base.
Cultural Sensitivity in Communication:
When crafting marketing communications, linguistic subtleties, cultural allusions, and
communication styles will all be taken into consideration. Partnerships with regional
influencers and celebrities will strengthen the relatability of TH True Milk's messaging
and establish a personal connection between the brand and the Singaporean public.
Distribution and Retail Adaptation:
Taking into account Singaporean consumers' preferred retail channels and purchasing
patterns, the distribution strategy will be modified to accommodate local tastes.
Optimizing product accessibility will need strategic connections with local retailers and
an awareness of the distinct logistics situation.
Marketing Techniques:
Advertising efforts will be designed to coincide with regional celebrations of culture,
festivals, and events. By making this adjustment, TH True Milk's marketing will align
with Singapore's cultural calendar, increasing the brand's relevance and appeal to the
intended market.
Benefits:
The adoption of an adaptation strategy enables TH True Milk to exhibit cultural
sensitivity and relevance, hence cultivating a favourable brand perception among
customers in Singapore. The brand may establish a position for itself as a well considered
and integrated part of the everyday lives and cultural experiences of its new customer
base by identifying and accommodating local preferences.
5.3 STP Strategy (Segmentation, Targeting, Positioning)
For TH True Milk's entry into the Singaporean market, the STP (Segmentation,
Targeting, Positioning) approach is carefully crafted to the nuances of the regional
psychographic, behavioral, and demographic backdrop. In terms of demographics, the
main target audience consists of adults between the ages of 25 and 45, which includes
both families and young professionals. Product lines are carefully chosen to appeal to this
age range, taking into account the wide range of needs and tastes of people in this
demographic. The strategy is further improved by income segmentation, which targets
middle-class to upper-class consumers with products and services that are accessible to
people with different levels of income.
Psychologically, the approach focuses on the dietary habits of health-conscious
customers who value easy-to-consume foods. Concurrently, the marketing strategy is
culturally responsive, acknowledging and cooperating with Singapore's multifarious
cultural origins. This entails creating messages that speak to certain cultural values and
preferences in order to establish a stronger bond with the target audience.
The strategy is dynamic in terms of behavior; it recognizes that customers are always on
the go and designs products to satisfy their convenience demands. Furthermore, the
company uses targeted services and customized reward programs to build and strengthen
brand loyalty.
When it comes to targeting, young professionals, audiences with a variety of cultural
backgrounds, and health-conscious consumers continue to be the major priorities. The
secondary targets include families, with product lines tailored to homes with children,
and the premium category, which presents TH True Milk as an option for consumers with
greater incomes.
A captivating storyline defines the positioning strategy. Positioned as Singapore's
genuine dairy experience, TH True Milk is painstakingly made with care and accuracy.
The focus is on superior quality, ethnic fusion, and optimal nourishment. The brand
wants to introduce a little bit of Vietnamese heritage to Singapore and go beyond just
being a product to become an essential part of the consumer's everyday life.
5.4 International Marketing Programs (7Ps)
Product: Fresh milk, yogurt, and other dairy derivatives will be part of TH True Milk's
product line, which is specifically designed for the Singaporean market. There will be
creative flavors influenced by regional tastes, guaranteeing a varied and culturally
appropriate menu. Eco-friendly materials will be used in product packaging, supporting
sustainability efforts and attracting customers who care about the environment.
Price Taking into account both middle-class and upper-class consumers, a competitive
pricing plan will be implemented. To generate early interest, promotional prices and
discounts will be applied around significant occasions or seasons. In order to establish
TH True Milk as a genuine and superior option in the dairy market, premium pricing will
be implemented.
Example: 1. Fresh Milk:
Standard Fresh Milk (1 liter): SGD 3.99
Premium Organic Fresh Milk (1 liter): SGD 4.99
Family-sized Fresh Milk (2 liters): SGD 6.99
Yogurt:
Assorted Flavored Yogurt Cup (150g): SGD 1.49
Greek Yogurt with Honey (200g): SGD 2.29
Family Pack, Assorted Flavors (500g): SGD 5.99
Other Dairy Derivatives:
Premium Dairy Ice Cream (500ml): SGD 7.99
Dairy-based Dessert Pots (250g): SGD 3.49
Promotional Pricing:
Launch Promotion (First month): 10% discount on all products
Festive Season Promotion: Bundle offers and discounts during local festivals and events
Place: Strategic channels of distribution will be set up to guarantee widespread
accessibility. We'll establish alliances with neighborhood stores, convenience stores, and
supermarkets, paying particular attention to urban and suburban regions. Additionally, e-
commerce platforms will be used to reach more people and make easy online purchases.
Promotion: We will employ a culturally aware marketing plan that makes use of both
traditional and digital media. Partnering with local celebrities and influencers will
increase brand awareness. Marketing initiatives will coincide with regional celebrations
of culture and festivals in order to establish a stronger bond with the intended audience.
People: Customer contacts will be handled by a group of knowledgeable and sensitive to
cultural differences employees. Training courses will emphasize effective communication
and cultural awareness. Collaborations with local employees and influencers will also
improve the brand's relatability and comprehension of the needs of regional consumers.
ProcessThroughout the supply chain, effective and culturally sensitive procedures will be
put in place to guarantee the consistency and quality of the final product. Response time
and cultural sensitivity will be given top priority in customer care procedures, and
questions and comments from customers will be handled right away. The emphasis will
be on process adaption to local standards.
Physical Evidence: The physical presence of TH True Milk will be thoughtfully chosen
to showcase the company's dedication to quality and authenticity. The presentation of
products, packaging, and in-store displays will project an elegant and culturally cohesive
 image. Eco-friendly packaging and other sustainability measures will provide verifiable
proof of the brand's dedication to environmental responsibility.
6.Conclusion:
In conclusion, a strong and customized international marketing plan supports TH True
Milk's calculated entry into the Singaporean market. Combining an adaptation-focused
strategic marketing approach with mergers and acquisitions as a preferred market entry
strategy shows a sophisticated awareness of the distinct cultural, demographic, and
consumer characteristics of the Singaporean market. The STP approach targets particular
age groups, financial ranges, and cultural preferences to ensure accurate segmentation.
From product adaption and competitive pricing to strategic distribution and culturally
sensitive promotion, the 7Ps framework further improves the approach.
The fresh milk, yogurt, and other dairy derivatives in TH True Milk's product line are all
carefully priced to appeal to middle-class and upper-class consumers. In order to create a
favorable market entry, promotional pricing tactics are used throughout the launch and
holiday seasons with the goal of generating initial interest and trial.
This all-encompassing approach acknowledges the significance of incorporating
environmental efforts and cultural sensitivity into the marketing mix in addition to
providing genuine, high-quality items. The focus on environmentally friendly packaging,
regional collaborations, and a team that understands cultural differences highlights TH
True Milk's dedication to ethical business practices.
The aim of TH True Milk's market entry into Singapore is to build a deep and enduring
relationship with the varied customer base, in addition to introducing products. TH True
Milk wants to establish itself as a reliable and essential component of Singaporean
families by adhering to regional values, tastes, and cultural quirks. This will help the
brand succeed in the long run in this cutthroat and competitive market. Maintaining a
favorable brand resonance and managing the complexity of the Singaporean market
would require constant adaptability, agility, and a customer-centric strategy.
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