GA COURSE TITLE: ACCOUNTING FOR MARKETING MAKING DECISION ACC 601 Final Assignment IN GLOBAL ENVIRONMENT Student: Doan Kim Hiep Lecturer: Dr. Huy, Pham Quang Trainee: Mr. Hiep, Doan Kim Oct 2012 Lecturer: Ms. AnhTho Andres Mr. Nguyen Van Hoan COURSE CODE: Final Assignment MKT 601 – DOAN KIM HIEP UBIS INTAKE 2012 – 2013 Page 1 MKT 601 Final Assignment Name of student: Doan Kim Hiep Class: MBA UBIS INTAKE 2 Case of study: Export strategy of Trung Nguyen Coffee Company I.
INTRODUCTION Vietnam’s leading coffee company, Trung Nguyen is looking to turn Vietnam into a global coffee powerhouse.
Coffee is a massive global market: roughly 2. 5 billion cups of coffee are consumed around the world every day and sales exceeded more than $70 billion a year. Vietnam is a major player, currently the number two global exporter of coffee, behind only Brazil. However, while the country earned a record $2. 7 billion in exports last year, many feel that it only represents a fraction of what the coffee industry here can become.
Vietnam’s number one coffee company, Trung Nguyen, is trying to help move the nation’s coffee up the value chain from primarily an exporter of beans into a recognizable symbol of its own quality right.
Author is going to use the theories about Marketing Mix, Marketing Environment, Potter’s five forces model, PESTEL, Target Marketing, Marketing Segmentation and cultural elements to analyze and define an export strategy to foreign market for Trung Nguyen. II. GENERAL COMPANY DESCRIPTION Vietnam is a major player in coffee and is the number two exporter of the socially acceptable bean in the world.
Trung Nguyen is Vietnam’s number one coffee producer, processor and exporter and with coffee shops that incorporate the key to touch points of global franchises but provide a very Vietnamese application, retaining the identity of home-grown society. It dominates the coffee culture in Vietnam reassuringly and the young and ambitious Chairman, Dang Le Nguyen Vu, is intent on developing Vietnam’s coffee approach to challenge the global marketplace. Innovation strategy colors of this young and energetic company but not at the expense of what is proven to work.
It’s a very Vietnamese approach. Final Assignment MKT 601 – DOAN KIM HIEP Page 2 Main office: 82 – 84 Bui Thi Xuan Street, Ben Thanh Ward, District 1, Ho Chi Minh City. Date of founding: 16/6/1996 Tel: (84. 8) 39251852 Fax: (84. 8) 39251848 Website: www. trungnguyen. com. vn Email: [email protected] com. vn Mission, vision and core value The mission: To connect and develop coffee lovers in the world Vision and core value: Great ambition National and international spirit Unceasing creativity and break through Good execution Value generation and sustainable development
Customers of Trung Nguyen: Various types of customers with different favourite tastes of coffee in Vietnam and the world. The coffee industry – The domestic coffee’s industry is growing. The number of consumed coffee is increasing rapidly year by year. The foreign coffee market is very large, potential and still has a lot of spaces for Trung Nguyen to develop. The most important strengths of Trung Nguyen are its famous brand name and its strong marketing. III. EXPORT STATEGY
Author is going to define the export strategy based on the theories about Marketing Mix ( 4P), Market/ Environment ( Porter’ five forces model, PESTEL ) Target Marketing, Market Segmentation and cultural elements,…. that Trung Nguyen had used . 3. 1 Products and Services 3. 1. 1 Theory Final Assignment MKT 601 – DOAN KIM HIEP Page 3 To describe deeply Trung Nguyen’s products, author will use the theory about Marketing Mix – The 4P. Marketing mix is the set of marketing tools that the firm uses to pursue its marketing objectives in the target market (Kotler, 2002).
The marketing mix has an important role in determining a product or brand’s unique selling point The marketing mix is classified into four broad groups known as the 4P of marketing: price, product, promotion, and place. The firm makes numerous decisions based on these four Marketing Mix variables in order to market and sell its products. The marketing mix of Trung Nguyen Coffee Company 3. 1. 2 Product For many years, Trung Nguyen has researched, developed and released various types of coffee with its own unique tastes and aroma.
As a result of its hard effort, it now has a wide and various range products, which satisfies different tastes of consumers. The products of Trung Nguyen are divided into 3 main categories: High-class product, intermediate product and common product. At the moment, Trung Nguyen Coffee Company is operating with five main trends of product: Creative Coffee, Weasel coffee, Legendee coffee, Passional low-caffeine coffee and G7 instant coffee. Design : The logo and the design on the package of Trung Nguyen’s products are noticeable, recognizable, different, creative and unique .
It makes a deep impression with Final Assignment MKT 601 – DOAN KIM HIEP Page 4 the combination of logical structure, good visual, youthful and enthusiastic colors, modernstyle and beautiful image. Brand name: Trung Nguyen is a very well-known brand name and is one of the top of 10 most famous brand names in Vietnam. Whenever talking about coffee of Vietnam, the first name most people remember and think of will definitely be Trung Nguyen. Packing: Trung Nguyen’s products have various sizes of package from small to large quantity, which are convenient for customers to choose and purchase.
Firstly, Trung Nguyen should join IUCN. To do that, it has to help, support, give funding to IUCN programs and makes sure that the company will keep the environment clean. After joining, it can meet another environmental organization like Ecocert. Then, it must change its production of coffee and keep the process from planting a coffee tree to producing a green and eco product to qualify for the necessary environmental standards in order to get its products certificate from Ecocert or Fair-Trade about green products, environmental friendly production, eco producing process in the foreign markets.
It should develop more types of instant coffee to satisfy various coffee drinkers in Euprope as well as in the world and improve the quality of its products to be better so that its products can please the strictest consumers. 3. 1. 3 Price In the domestic market, the price of Trung Nguyen’s products is diversified and suitable for many types of coffee drinkers. Trung Nguyen’s price is usually a bit lower than its rivals in order to stay more competitive. It always pays a great deal of attention to the cutting off producing cost in order to lower the price of the products and increase its ability to compete with the rivals in the market.
In the foreign market, it has a wide range of prices for different products which is appropriate to the demands and expenses of customers. For instance, High-class product of Trung Nguyen focuses on high-class people has higher price matching with excellent quality. In Japan, it sets the price 50% higher than that in Starbucks and 25% higher than in other locals. It has achieved success in Tokyo and its instant coffee wins customers in the potentially huge Chinese market-amid a culture that, like Vietnam, has long favored tea.
Final Assignment MKT 601 – DOAN KIM HIEP Page 5 For the raw coffee, Trung Nguyen’s price must be competitive to compete with other countries’ coffee companies because there are many rival companies from other countries like Brazil, India… also export coffee to the global market. The price of Trung Nguyen’s products at the franchise store can be high in the Western countries because high quality always comes together with high price. Western customers can pay a higher amount of money for coffee as long as it is high quality and meets their demands.
They may not care much about price as long as they receive high quality coffee which satisfies them because they think that the quality of coffee is worth paying. 3. 1. 4 Place Trung Nguyen is applying a wide strategy of distribution all over the country through the retail outlets, agencies, supermarkets and trade centers. Talking about Trung Nguyen, we can’t ignore the importance of its franchise campaign, which greatly contribute to Trung Nguyen’s current distribution network. Until now, it has allowed franchised to more than 1000 stores in Vietnam located on the center of cities, on the two faced busy streets.
In the foreign market, it has done franchise in 8 countries and exported its products to 60 countries around the world (Vietnam’s coffee king, Dang Le Nguyen Vu). Besides that, it has also built a network of G7 Mart distributing stores in Vietnam since 2006. It also exports the G7 brand via E-Mart in South Korea, as well as small importers in Japan and China Trung Nguyen exports indirectly through intermediary distributors. For example: Dragon Coffee Company in England, H & O Coffee Company in Canada. Location is very important to customers.
If Trung Nguyen opens a store at the outskirt of the city, many people will find it inconvenient to go there. In this study, author proposes that it should open many franchise coffee shops at famous airports in the world. The reason is that it will have a large number of potential customers if it does that. Customers are passengers waiting for their flights, transits, families and friends …The airport is one of the most crowded places in the city and it welcomes thousands of people a day, especially in Rome, the capital of Italy.
By doing this, a large number of Italians and may be people from others countries will also have a chance to taste and know about Trung Nguyen coffee. If they feel satisfied with the coffee, there is a high chance that they will enjoy it again and tell others about their favourable experiences with the coffee. Moreover, Final Assignment MKT 601 – DOAN KIM HIEP Page 6 Trung Nguyen will not worry about parking space if it opens a store at an airport. The franchise store must be designed to carry the national culture colors and introduce to foreign customers about the Central Highland and Vietnam culture.
It must have the proud features of Eastern culture while still maintaining the comfort and luxury of the West. Distribution Channels For the raw coffee, Trung Nguyen should sell its products to the coffee roasters through the distributors, intermediaries or sell directly to the import companies. It should consult with the ICC or ICO in order to choose some big and reliable partners. For the other products, it can sell them at the franchise coffee stores and through the supermarkets. 3. 1. Promotion Trung Nguyen is using various media to advertise its product – newspaper, banner, social network, … It has built a coffee’s village in Buon Ma Thuot city as a method of promotion for its brand name, has done different promotion campaigns – introducing new products by giving free samples at crowded places such as universities and supermarkets, participating in the commercial fair or doing road show in many big cities, has enhanced the national pride in each products and mobilized the spirit “Vietnamese people use Vietnamese product” so it has quickly gained the trust of the consumers.
It has also deployed many successful PR plans by cooperating with others charitable organizations to fund and do charity… It should participate in the commercial fairs which have high reputation to introduce its products to fogrein consumers. Besides that, it mostly uses leaflets, posters and promotional items to advertise its products and can also cooperate with traveling companies which often held travel tours to Vietnam and asks them to introduce its coffee. Final Assignment MKT 601 – DOAN KIM HIEP Page 7 3. 2. Market Research 3. 2. Theories Although world coffee market is very large, potential and it offers many opportunities to Trung Nguyen to develop. Trung Nguyen still has many strong competitors in this market. Moreover, there are some required standards and requirements of the coffee, and some cultural differences in the world. As a result of this, it must do the market research carefully in order to develop stably and sustainably. In this part of the study, author is going to do the market research based on the theories about marketing environment, PESTEL, Potter’s five forces, SWOT and cultural elements.
Final Assignment MKT 601 – DOAN KIM HIEP Page 8 MARKET/ ENVIRONMENT 3. 2. 2 Micro environment Micro environmental factors are internal factors of organization’s area of operations which are close to and have a direct impact on the organization’s performance and decision making. These factors include customers, competitors, suppliers, partners, media, financial companies, public authorities, group of interests and public opinions. 1. Customers Trung Nguyen has a wide range of customers, from a student to a busy businessman, from a normal accountant to a president of a company.
It means that Trung Nguyen also must have a wide range of products which is suitable and satisfied various kinds of customers as well. 2. Competitors The main rivals of Trung Nguyen are Nescafe from Nestle, Vinacafe from Bien Hoa coffee company, Highland Coffee and MacCoffee from Food Empire Holdings. With these strong rivals, the competition in the local market will be very fierce and intense. 3. Suppliers Trung Nguyen is doing self- supply. Trung Nguyen has a coffee’s farm to supply the materials so it is not under much pressure from the suppliers and can save a lot of money. 4.
Partners Trung Nguyen has many partners: the media companies, coffee’s stores, franchise partners, agencies… They may play different roles but are all important and can affect various aspects of Trung Nguyen’s business. It’s important for Trung Nguyen to maintain the long-term business cooperation with its partners 5. Final customers The final customers of Trung Nguyen are coffee drinkers. 6. Financial companies Final Assignment MKT 601 – DOAN KIM HIEP Page 9 The financial companies are the banks, the insurance companies… Beside its own capital, the money which Trung Nguyen uses for its business mostly comes from the financial companies.
Those financial companies play a significant role in the business of Trung Nguyen. 7. Media The press, newspapers, TV, internet…They are all important in the marketing of Trung Nguyen, especially in PR and promotion. They can affect the public’s opinion about Trung Nguyen. Trung Nguyen Corporation has been featured in various international news and current affairs programs in CNN, BBC, Associated Press, Reuters and Bloomberg. 8. Public authorities The local government, the tax office…Trung Nguyen must respect and follow the laws and the policies of the government and pay tax on time.
They are all basic and important requirements of any companies in any countries. 9. Public opinion Trung Nguyen is a famous brand name. Trung Nguyen also has got positive opinions from the public since it often paricipates in the charity’s activities and support many funds to help people. Having positive opinions from the public help Trung Nguyen gain favour and support from Vietnamese people easier and more competitive in the local market. PORTER’S FIVE FORCES MODEL Porter’s five forces is a model developed by Michael E. Porter and is ofenn used in industry analysis and strategy devlopment process.
This model is used to analyze the five forces which determine the competitive structure, the profitability and attractiveness of a market or industrry. Based on this model, the strategy of an organization should be developed and applied based on the understanding of the industry structures and the way they change Final Assignment MKT 601 – DOAN KIM HIEP Page 10 1. From the suppliers About the technology and the machine server the coffee industry . The suppliers are diversified because Trung Nguyen can buy them from many others countries.
About the material, Trung Nguyen has built its own coffee’s farm for self-supply so it doesn’t depend much on the suppliers. Overall, it isn’t under much pressure from the suppliers. 2. From the rivals Trung Nguyen is currently one of the leading coffee companies in Vietnam with a big market share but it is also under a high-pressured of competition with many rivals like Nescafe, Vinacafe, MacCoffee and Highland Coffee. 3. From the customers Trung Nguyen has a variety of customers like students, businessmen, officers,… people who drink coffee in general.
Those customers have the right to choose products to purchase from various coffee companies with the same quality but competitive price. Thus, we can say that the pressure from the customers for Trung Nguyen is existed. 4. From the substitute products Trung Nguyen’s products are threatened by some substitute products like tea, gas drinks, cigarette, fruit juice… However, the pressure from these substitute products is not very high because in reality, coffee can’t be easily replaced by them. Final Assignment MKT 601 – DOAN KIM HIEP 5. From the new entrants Page 11
Right now, there are still some companies at home and abroad which want to join in coffee’s industry. Trung Nguyen must be aware of the potential risks from the entry of those companies in the future, especially some world-famous foreign companies like Starbuck, Dunkin Donut… 3. 3 Macro environment (PESTEL) PESTEL is a framework of macro-environmental factory includes “Political, Economic, Social, Technology, Environmental and Legal” which is designed to indentify different macro-environmental factors that affect the organization and has to be taken into consideration. It is often used in the external analysis when doing market research. . 3. 1 Political Trung Nguyen and the others coffee companies have the support from the government in producing and exporting their products to others countries. They are also protected their rights and brand names by the government. Besides that, the government established the Vicofa in oder to operate, manage and develop the coffee’s industry, solve the dispution about market, protect the interests and rights of Vietnamese coffee companies in foreign market. Final Assignment MKT 601 – DOAN KIM HIEP Page 12 3. 3. 2 Technology The technologies and machines to produce coffee are advanced.
Trung Nguyen has researched the technologies from many developed countries – Germany , Italy, Denmark and took advice from some branch leading consultants before choosing and importing some of the most advanced and suitable technologies . 3. 3. 3 Society/Culture Trung Nguyen is located on Buon Ma Thuot city, the hometown of coffee in Vietnam so it can easily create the characteristics of Vietnam’s coffee in each products. Nowadays, the need of using coffee is increasing radpily. Vietnamese people drink coffee everywhere and everytime in day. Drinking coffee has become a popular habit of Vietnamese.
We can say that enjoying coffee has become a trait of Vietnam’s culture. 3. 3. 4 Legal Since Vietnam joined WTO, the coffee’s industry has had some big changes. Trung Nguyen has the opportunity to penetrate the potential foreign market. Now, Trung Nguyen’s brand name is known not only in Vietnam but also in others countries. However, Trung Nguyen will also meet a fierce competition from the foreign companies. 3. 3. 5 Economy Vietnam’s economy is developing fairly and quickly. This creates more opportunities for Trung Nguyen to develop and expand their production and business activities.
Also, the living standard of people is improved which means that the number of Trung Nguyen’s customers increases as well. 3. 4 Target Market Target market is a particular segment of the market, a specific potential customer groups that a company aims to sell its products, services and directs marketing efforts to. They are people’s needs which the company’s products or services can fulfill. When the target market has been indentified, a marketing strategy will be built to aim for the target market. Final Assignment MKT 601 – DOAN KIM HIEP Page 13 3. Market Segmentation Market segmentation is the division of a market into different group of consumers that have common needs. It depends on product specifics , these groups may be defined by various demographic criteria such as income, age and gender. Market segmentation helps the companies to satisfy the needs of their potential customers better. 3. 6 Niche In recent years, customers in the foreign markets are beginning to take notice to the environmental aspect of the products they use. The consumption of environmental friendly and ethical products is increasing not only in Western but also in many other countries.
The sales of organic and Fair-Trade coffee are growing in Europe market. However, the share of organic coffee in total still lies under 1%. As a result of this, the author suggests an export strategy of exporting environmental friendly and organic coffee to Europe, especially Italy for Trung Nguyen. The target market is the segment of Italian customers who want to purchase or drink environmental friendly and organic coffee. 3. 7 Cultural elements Cultural elements of a country or a society are languages, religions, customs and traditions.
Cultural elements are different between countries and are very important in marketing, especially in international marketing so companies must pay them a great deal of attention when exporting products and services or doing marketing in foreign markets. For example: A company specializes in exporting tea will have advantage if it exports products to a country which has the culture of drinking tea for many years (Japan, China,….. ) but it will have difficulty in Europe or Africa, where people don’t drink much tea. Trung Nguyen can do the second research and collect the necessary nformation about the figures of Europe coffee market, the important and reliable import companies, trade promotion organization, trade support institution, economy…in Europe through some organizations like ICO, ITC, and Vietnam’s embassy in countries . 3. 8 SWOT SWOT is a framework used to assess the strengths, weaknesses, opportunities, and threats of an organization in a project. SWOT helps indentify the internal (strengths and weaknesses) and external factors (opportunities and threats) that are favourable and Final Assignment MKT 601 – DOAN KIM HIEP Page 14 nfavourable for the organization. SWOT analysis determines what factors may support the organization to accomplish its objectives, and what obstacles must be aware of and overcome in order to succeed. Through SWOT analysis, organization can create a strategy which is suitable for its resources, capabilities and environment. SWOT is widely used in various business aspects like marketing, products development, business strategy… 1. Strength S1: Advanced technology Trung Nguyen imported some of the most advanced technologies and machines from Denmark, Italy and Germany.
S2: Coffee’s farm Trung Nguyen has its own coffee’s farm to supply the materials for itself and doesn’t have to depend much on suppliers. It also means that the cost of transporting and buying the materials is reduced as low as possible. S3: Well-known brand name Trung Nguyen is one of the most famous brand name in Vietnam. Hence, its coffee is too familiar with Vietnamese. S4: Good quality products The quality of Trung Nguyen’s products has met the requirements, needs and tastes of Vietnamese. Its coffee quality has been confirmed by the consumers.
S5: Wide distribution network Trung Nguyen has a wide distribution network across the country through supermarkets, retailers and its own distributing stores, making sure that people from various places can enjoy its coffee. S6: Strong marketing Trung Nguyen has deployed various promotion and PR campaigns effectively. The most obvious result of this is the fame of Trung Nguyen coffee company now. Final Assignment MKT 601 – DOAN KIM HIEP Page 15 S7: The factor “Vietnamese brand name” The national spirit and the culture are very important factors which may affect the promotion and the success of a company.
Trung Nguyen has used that strength effectively to gain the support and love from Vietnamese consumers. 2. Weakness W1: Too much franchises make difficulty in management and control The franchise system of Trung Nguyen is massive, inconsistent and difficult to control. Multiple types of coffee shops from a small one with some chair and umbrella to a big one with lots of chairs and a huge garden are allowed to use Trung Nguyen’s sign and logo by this company. Therefore, Trung Nguyen doesn’t have a specific portrait.
There’re also some differences in price, quality of coffee and service of Trung Nguyen’s cafes. The investment in decoration the coffee shops are also very different. W2: Spreaded investment on many fields At the same time, Trung Nguyen group is having too many plans, ambitions and doing spreaded investment on many fields, which cause the dispersion in financial, material and human resources. 3. Opportunity: O1: Own a large and high-quality material supply Trung Nguyen has its own coffee’s farm so it doesn’t worry much about finding supply source or pressure from the suppliers.
It can use that advantage to cut down the cost, lower the price to be more competitive. O2: Large potential forgein market Since Vietnam joined WTO, Trung Nguyen has had more chances to penetrate the foreign market. Foreign market is very large, potential and it offers many opportunities to Trung Nguyen to develop worldwide. 4. Threat : Final Assignment MKT 601 – DOAN KIM HIEP T1: High-pressured competition from many rivals Page 16 Trung Nguyen is currenly facing a fierce competition with many strong rivals: Nescafe, Vinacafe, Maccoffee… If it isn’t careful, it might lose its local market share.
T2: Threat from the entry of foreign companies Trung Nguyen may face a hard competition with the local and foreign market in the future which has presence of many famous coffee brands in the world like Starbuck, Dunkin Donut… IV. CONCLUSION After 16 years since being founded, Trung Nguyen has developed and become one of the most successful companies as well as the leading brands in Vietnam. Now, it is taking step by step to develop in the foreign market. It has expanded to overseas markets with good results and rapid growth in recent years. Like other export companies, it ust answer a hard question “ how to develop in the foreign markets stably and sustainably”. To do that, it must research the market throughly and carefully. Then implement the right and suitable strategy in order to penetrate and develop in a competitive market. With the target to define the export strategy of Trung Nguyen, we have been carried out : analyze the foreign coffee market’s micro and macro environment, do the market research and define an export strategy,… . Suggestion At the moment, Trung Nguyen is in a fierce competition with many strong rivals of the local market.
Now it has its own big market share and has a high specific position in local market. If it wants to step higher, to gain more market share or to defeat its rivals, it’ll cost a lot of money and time. So instead of using more money to fight in the local market, it should use that money to develop in the foreign market. The foreign market is very large, potential and it still has a lot of spaces for Trung Nguyen. Trung Nguyen should create more franchise in others countries. It can buy a coffee’s factory in another country and then does franchise, lets it produce.
It just needs to keep control the quality of products, the packing, and the brand. By applying this strategy, it can save a lot of money and that company’s product may become a “local” product. This strategy should be applied in some developed countries like Japan or Singapore in order to get a high profit because in those countries, if the product has good quality then people will ready to pay much more money Final Assignment MKT 601 – DOAN KIM HIEP Page 17 than normal. Although developing abroad it also has to stay competitive and keep its position in the local market.
It’s acceptable to lose a bit of profit to invest in the foreign market. After that use the money gained from the foreign market to do promotion in the local market to keep the image and the leading position. If Trung Nguyen succeeds in the foreign market then it’ll certainly have more customers in the local market. V. REFERENCES Coffee Barometer 2012 report. (2012). Tropical Commodity Coalition Coffee in Italy report. (2010). CBI. Ministry of Foreign Affairs of the Netherlands E. Jerome McCarthy. (1999). Basic Marketing: A Managerial Approach. 13th ed. (Homewood, IL: Irwin) Ms.
Anh Tho Andres. (2012). Teaching Material MBA program subject Marketing in Global Environment. UBIS Philip Kotler. (2002). Marketing Management, Milenium Edition. Pearson Custom Publishing. Boston Porter, M. E. (1979). How Competitive Forces Shape Strategy. Harvard Business Review Silvia Giovanazzi. (2010). The Italian coffee market 2010 report. Global Agricultural Information Network. GAIN report number IT 1047. USDA Foreign Agricultural Service Website: www. cbi. eu www. ecocert. com www. ico. org www. intracen. org www. iucn. org www. teacoffeecocoa. org www. trungnguyen. com. n Appendices Appendix 1: The organizations Final Assignment MKT 601 – DOAN KIM HIEP Page 18 Ecocert is an organic certification organization, founded in France in 1991. It is based in Europe but conducts inspections in over 80 countries, making it one of the largest organic certification organizations in the world. EurepGap is a common standard for farm management practice created in the late 1990s by several European supermarket chains and their major suppliers. GAP is an acronym for Good Agricultural Practices. It is now the world’s most widely implemented farm certification scheme.
Fair-Trade certification is a product certification system designed to allow people to indentify the products which meet agreed environmental, labor and developmental standards. ICO (The International Coffee Organization) is the main intergovernmental organization for coffee. The ICO’s mission is to strengthen the global coffee sector and promote its sustainable expansion in a market-based environment for the betterment of all participants in the coffee sector. ITC (The International Trade Centre) is the joint agency of the World Trade Organization and the United Nations.
ITC’s mission is to enable small business export success in developing and transition-economy countries, by providing sustainable and inclusive development solutions to the private sector, trade support institutions and policymakers. IUCN (The International Union for Conservation of Nature) is the world’s oldest and largest global environmental organization. It is a democratic membership union dedicated to finding “pragmatic solutions to our most pressing environment and development challenges. ” The end Final Assignment MKT 601 – DOAN KIM HIEP Page 19
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