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Market research aids consumption
Local manufacturers must craft new strategies to increase consumption of homemade products, experts have said.
At a time when the global recession is affecting business, stimulating local production is considered the best way to promote growth.
However, many companies do not pay attention to market research and analysis, according to Pham Thi Thu Hang, Director of the Viet Nam Chamber of Commerce and Industry's small- and medium-sized Enterprises Support Centre.
Hang said local companies were ignoring the consumer potential of the rural market.
The country now has a population of more than 86 million, with more than 70 per cent living in rural areas.
Rural incomes have increased in recent years, especially in areas that are being urbanised, which has led to higher consumption.
The rural market traditionally has been full of low-quality, fake or smuggled goods.
Ha Noi Supermarkets Association Chairman Vu Vinh Phu said companies should conduct their own surveys on the rural market.
The surveys should examine residents' demand for goods, consumption habits and payment capacity.
Organising mobile teams to sell goods directly in rural regions would increase the purchases of locally-made products, Phu said.
Vu Dinh Anh, deputy head of the Ministry of Finance's Price and Market Research Institute, said: "Vietnamese still have high demand for consumer goods, but these goods must be within their payment capacity."
He added that companies must identify products that can meet local consumer demand.
Companies should reorganise local distribution systems, especially systems in rural areas, to increase market share for locally-made products, Phu said.
vietnamnet, vietnamplus
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