CONSUMER BEHAVIOUR
QUESTION 1
1 INTRODUCTION
1.1 VIETNAM’S FISH SAUCE MARKET
• Fish sauce is one of Vietnam biggest market with 97% of urban households and
100% of countryside households reportedly use them for cooking or savoury on a
daily basis. According to Tuoi Tre (2019), the value of Vietnam fish sauce market
is worth 500 billion USD, with a 20% annual growth rate.
• Segmentation:
o Regarding its segmentation in Vietnam, the fish sauce market in Vietnam has
been segmented by the product type, price, and application type.
o Product type segmentation (most notable):
▪ Traditional fish sauce: Made from pressed fish fermented with salt for
1-2 years.
▪ Industrial fish sauce: Made from a mixture of fish, herbs and other
additives.
o Price segmentation:
▪ Basic
▪ Premium
o Application type:
▪ Cooking: High concentration of protein (>10), made purely from fish
and salt
▪ Dipping sauce: Low concentration of protein (<10), is mixed with
other ingredients to create more flavour
• History:
o Fish sauce has been around for as long as 200 years back, but the Vietnam
fish sauce market didn’t come into operation until 2002 when Unilever
