Branding Strategy for Building Mayora’s Brand Equity in the Vietnamese Market

Abstract

This study examines the branding strategy that PT Mayora Indah Tbk used to build its brand equity in the Vietnamese market. Vietnam was selected for this study because of its rapid economic growth and the development of digital technology. Moreover, Vietnamese consumers are known for their strong brand loyalty. This study employs a qualitative case study approach. The data analyzed in this study were sourced from interviews with representatives of Mayora company in Vietnam (hereinafter referred to as Mayora Vietnam), document analysis, and the company’s social media activities. To process the data, this study uses Miles and Huberman's thematic analysis framework. The result of this study suggests that, to build its brand equity, Mayora Vietnam employs a market research-based branding strategy and product differentiation. To that end, Mayora Vietnam implements cultural adaptation, premium brand positioning, 360-degree marketing communication, product quality improvement, and organic word-of-mouth-driven brand loyalty management. Mayora’s flagship product in Vietnam, Danisa, gained popularity through a strategy that positioned it as a premium gift product that resonates with the Vietnamese gift-giving culture. Furthermore, Mayora Vietnam combines traditional and digital media to strengthen its brand awareness and brand image. This study finds that successful brand equity development in Vietnam is influenced by a company’s ability to maintain product quality, understand local culture, and build a consistent, relevant communication strategy. This study contributes to the literature on international communication branding and FMCG strategies in Southeast Asian markets.