Analyzing the market's opportunity for a new product : The case of "thread deformed bar steel" of Vina Kyoel steel company

Abstract

In the current context of the integrated economy, the competition in the steel

industry became increasingly fierce. This is both an opportunity and challenge for the

company as Vina Kyoei to show the ability to adapt to the market’s reality, improve

the technology and the management system in order to create the competitiveness to

other competitors. Therefore, Vina Kyoei Steel Company has been studying the

market to offer a new steel product with more advantages over traditional steel

products on the market; this is the pioneer company in Vietnam to produce this new

steel product as well. In this study, I will conduct the market research to understand

and clarify opportunities and challenges for this new product. In addition, the results

of the study will help the company has a better insight about the market and

customers, and it is the basis for future studies as well.

Keywords: thread deformed bar steel, new steel, opportunity, ability, brand.