584 Nha Trang Fisheries Joint Stock Company, Khanh Hoa Province, has made great effort...
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| 584 Nha Trang Fisheries Joint Stock Company has struggled to raise the prestige and competitiveness on the domestic and international markets. |
Nha Trang fish sauce is a popular trademark. The increasingly competitive environment together with the lack of materials has created both challenges and chances for the company to design production and business strategies to expand its business.
With nearly 35 years of construction and development, 584 Nha Trang Fisheries Joint Stock Company has proved successful in strengthening its position.
Director Do Huu Viet says, “Founded in 1977, through ups and downs, 584 Nha Trang Fisheries Joint Stock Company has struggled to raise the prestige and competitiveness on the domestic and international markets with the average growth rate of 10%.
After privatization in 2006, the company has gained satisfactory results with great improvement in product quality to meet the increasing consumers’ demand and expand its business overseas.
Marketing Director Tran Trong Thanh said, “The company has focusing on building up the brand 584 Nha Trang fish sauce and promoting the products better. The challenge is the lack of advertising fund."
584 Nha Trang Fisheries Joint Stock Compan’s products are now available in 50 cities and provinces nationwide. Its market share increased from 5% in 2009 to 5.8% in 2010.
The turnover increased from VND30.7 billion in 2009 to VND37.4 billion in 2010. The company has won many honorable awards. Its latest award is Vietnam Gold Star Award 2011.
Initiatives have given 584 Nha Trang Fisheries Joint Stock Company an effective push to deal with the downturn and increase its competitiveness, helping to ensure the company’s sustainability.
N.T
