camborne ices new products and applied marketing mix

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Scenario - Camborne Ices

Ice cream showing no signs of cooling down

A survey conducted by a Singaporean market survey company in 2004 showed that the total turnover of the ice cream market in Vietnam was VND667bil and the market had the growth rate of 15-20% per annum. This proves to be an attractive figure for investors, though the ice cream consumption level of Vietnamese people is still low compared to the world's consumption level, just 0.3litres per capita per year (Source: Agriculture and Agri-Food Canada).

Experts said that Vietnam's ice cream market will see further strong growth for many reasons. First, Vietnam's economy is growing fast with the GDP growth rate of 7.45% in the 2001-2005 period. Second, fast population growth is also considered a reason behind the increased demand for ice cream.

Experts have predicted that Vietnam's economic growth rate will be 7.5-8.5% per annum in the 2006-2010 period, while its population growth will be 1.2% per annum. Meanwhile, the production of milk and ice cream-made products are being encouraged by the State. The approved strategy on dairy industry development by 2010 and 2020 said that dairy production will increase by 5-6% per annum