ANALYSIS OF THE STATUS OF AUTOMOBILE INDUSTRY
Introduction about Ben Thanh Ford
- Name in English: Ben Thanh Ford Co., Ltd.
- Located at 831 Truong Chinh, Tay Thanh Ward, Tan Phu District, Ho Chi Minh City is located in the central area of the city
- Located at 39 - 69 - 71 Che Lan Vien, Tay Thanh Ward, Tan Phu District, Ho Chi Minh City
- Website: www.Benthanhford.com.vn
Market size
Car Another Version Price (VND) Displacement Wattage
Market trend
- Sales increase, new models constantly appear, showing the flourishing development of the B-size crossover segment in recent times.
Models in this segment are characterized by their compact size, making them highly maneuverable in urban environments Their elevated undercarriage provides a sense of security when navigating curbs and flooded streets Additionally, vehicle safety is a top priority, with advanced Electronic Stability and Driver Assist Technology designed to minimize accidents and ensure lane adherence at all times.
- For example: Ranger 2020, Ford Everest 2020,
Market demand
In today's evolving market, customer demand is on the rise, emphasizing the need for high-quality products that offer innovative features Consumers are increasingly seeking smart comfort, modern designs, and economical materials, along with readily available spare parts for replacement vehicles.
Market Growth
The automobile industry in Vietnam is generally large-scale, with rapid growth.
Sales of Ben Thanh Ford company from 2010 to 2020:
Sales and Growth 2010 - 2021 sales growth
Sales of several Ford companies in Vietnam in March 2020:
SGF BDF CTF VIF BTF HNF QNF DLF
Market share
Sales of Ben Thanh ford compared to Ford Vietnam in March 2020
THE BASES-MODELS FOR BUILDING MARKETING STRATEGY
Canvas
2 5M Model (Manpower, Materials ,Machinery, Minutes, Money)
- Ben Thanh Ford has more than 1000 experienced employees, well-trained sales and marketing team,…
BEN THANH FORD employs a dedicated team of 300 professionals, committed to establishing a long-term strategic vision With the support of experts from Ford Vietnam, the company focuses on training and coaching its staff to enhance their professional qualifications and skills This investment in employee development ensures that customers receive the highest quality service, fostering trust and satisfaction.
- Advertising on the company’s website, Facebook.
- Roadshow program organized by Ford
High-class product with satisfactory price and quality suitable for customers.
Selling products directly at agents and online channels ( website: benthanhford.com.vn)
Mainly customers with average income of over 30 milion / month
Selling new car and used carSelling car accessoriesSelling car insurance
The partners supplying raw materials for Ford are: - Castrol lubricants Company, Ford Vietnam, etc
Ben Thanh Ford has a customer management system (CRM) customer relationship management using modern machines such as desktop computers, tablets, etc.
Ben Thanh Ford has a professional marketing process, fast product launch speed, meeting customer needs, etc.
Ben Thanh Ford's main equity is from Ford Vietnam and loans from partner banks such as Vietinbank, HSBC Bank, VIB,
Pestel Model
Vietnam is one of the countries considered safe and stable in the world.
In addition, Vietnam is an opportunity and potential market for the automotive industry
Car import tax in ASEAN: 30%
After EVFTA, the import tax from the EU to Vietnam is 0%.
The GDP of VietNam is increasing through years
This is anopportunity to show an increase in demand for cars
However, because of covid 19, in 2020 Vietnam's average GDP is
433 billion USD, down 5% compared to the same period in 2019
Vietnamese use social media almost 100%Ford has social media pages on all the major platforms Facebook, Twitter ,Instagram,…
Because of covid 19, social distancing, the number of people using social networks has increased.,
Advanced vehicle technologies enable autonomous driving, allowing cars to transport passengers without human intervention It is crucial to balance the integration of these technologies with their practical application, ensuring they remain relevant and effective by the time they are available to the public.
The company is committed to adding electrical lines and delivering more vehicles to be energy efficient
A smart move, considering how big the eco friendly community is growing.
Ford prioritizes compliance with labor laws, employee salaries, and rigorous safety inspections for their vehicles The company is deeply committed to quality and safety regulations, ensuring that any vehicles that do not pass inspections are promptly repaired.
Vehicle users must obey the road traffic laws in Vietnam (Do not use alcohol while driving, must have a driver's license )
Marketing objective
Marketing goals of BenThanh Ford 2021
In 2020 Ben Thanh Ford sold 1144 car with sale objective is 1200.
In 2021 we aims to sell 1500 cars higher with our car sales target of 1450.
In 2022 we are expect to sell 1820 cars and higher with our car sales target of
And in 2023 we expect to sell 2350 cars and higher with our car sales objective of 2300.
In 2020, In 2020 we sold 1.114 Cars with gross profit 20.592 Million(18.0 Million/Car).
In 2021, we expect to sale targets 1.450 cars with profit 26.100 million (18.0 million/car).
In 2020, we sold 241 cars with gross profit 6.668 million (28.5 million/ car).
In 2021, we expect to sales objective 300 cars with gross profit 8.400 million(28.5 million/car)
Competition
Ben Thanh ford has to direct competitors such as Sai Gon Ford, Binh Duong Ford, these are all subsidiaries of Ford VN.
There are also other competitors such as Hyundai, Toyota,
Expand the market with hybrid vehicles.
Many car segments do not exist in Vietnam.
The models are not diverse and the prices are not suitable for many segments.
Toyota's main growth strategy is market penetration.
Toyota ensures that it offers products for every market segment.
With the goal of sustainable development and maintaining "The most loved car brand" in Vietnam.
Modern warranty and repair service.
Hyundai sets the ambition to commercialize and compete fairly in the pickup segment.
There is no factory, so the cost of the car is high.
Expanded with many new product lines.
Become the leading prestigious brand in Asia
Five forces
Moderate size of individual purchases
It doesn't affect Ben Thanh Ford company much.
Ford needs to compete against top players (e.g Toyota…)
Competitive greatly affects the company Ben Thanh Ford.
High cost of doing business
High cost of brand development.
Threat of new Entrants greatly affects the company Ben Thanh Ford.
Threat of New Substitutes has little impact on Ben Thanh Ford's business.
Competition between Metal/Body Parts supplier or IT/ITES supplier or Engine/auto parts supplier
Bargaining Power of suppliers has little impact on Ben Thanh Ford's business
SWOT Model
Being the first agent of Ford Vietnam
Has 1000 employees with Sales staff dynamic professional.
High quality product and diverse Offerings.
Golden Services: faster, many service workshops.
Invest in the expansion of facilities.
The distribution channel is small.
The website system to promote the company and products is simple and has little information.
Customer care service is not effective.
Tax reduction policy of government because Covid-19.
The policy of extending consumerblending of banks.
The demand for cars is growing rapidly.
Public transport is being encouraged.
Competitor imported car manufacturers: Toyota, Mitsubisi, Thaco,
Leveraging highly specialized resources along with many different product lines to dominate the Vietnamese market to satisfy the needs and desires of customers.
Take advantage of government and bank support to increase production to increase market share and dominate the market.
It is necessary to diversify distribution channels, make full use of traditional distribution channels to increase market share compared to competitors
Promote online advertising, redesign smart and convenient website system.
It is necessary to promote digital marketing to have a strong foothold in the market.
Strengthen customer care activities and product advertising to maintain market share.
MARKETING STRATEGY
Target segmentation
Forcusing on HoChiMinh City ,and the other provinces near by.
Because it is a lagre City with high income people and high demand.
Ford is aimed at midle- age customer and it’s primarily made for knowledge class.
Customer want a comfortable car and with advance technology
Income :30-50 million on the month.
Bring social the highest – quality that are also so environmentally -friendly.
Going beyond car supply to offer a more comprehensive service.
Income :40-50 million on the month.
Modern, busy, more stress and strain.
Bring social the highest – quality that are also so environmentally -friendly.
Going beyond car supply to offer a more comprehensive service.
1.4 Target group of commercial vehicle
Income :40-50 million on the month.
Bring social the highest – quality that are also so environmentally -friendly.
Going beyond car supply to offer a more comprehensive service.
Posioning
BenThanh Ford belongs to the low price segment with high quality.and in the same segment with other brands such as toyota honda
The Ranger is priced higher than the Toyota Hilux but at the same time it is also higher quality.
Both cars are in the pickup segment in Vietnam.
Parameter of ford Ranger is bigger Toyota Hilux
With ford ranger used felt chair and Toyota Hilux used leather seat
Ford ranger forecuses on support Smart device connection And Toyota Hilux Forecuses on AUX Connection
Pickup truck segment in Vietnam Automatic air conditioning
Support smart device connection AUX connection
This day and age , Ford has done a good job of associating its brand and vehicles with great fuel economy
The “Go Further” tag line has helped position Ford as a viable option against Toyota and Honda as another quality, fuel-efficient choice for automobile buyers.
- With high gas prices and the push to green and sustainable product options, Ford has developed an appropriate positioning statement in today’s automobile market
Its previous consumer message – “Drive One” – didn’t provide the consumer with any information about the benefits of its products
“Quality is Job one” told us that Ford is focused on making a quality product Today’s position says that Ford builds a fuel-efficient product that allows you to go further.
Marketing Mix (4P)
“Smart vehicles for a smart world”
Ranger the king of pickup by Ben Thanh Ford
Parking sensors: Front & rear sensors
Burglar alarm system: Anti-theft alarm by motion sensor
SYNC entertainment technology: SYNC Gen 3 voice control, 8 in touch screen TFT screen.
The new Everest is a versatile sports car designed for long-distance travel, featuring a modern and aerodynamic grille that enhances its fuel efficiency by reducing drag.
Spacious passenger compartment, Diesel engine 2.0L Bi-Turbo advanced Everest for 213PS capacity and maximum torque of 500Nm while still very fuel efficient interior design, amenities bring comfort and relaxation.
Electronic Power Steering (EPAS) with Pull-Drift Compensation Technology. EcoSport
The EcoSport is a compact multipurpose sports car designed primarily for family travel, featuring a distinct and elevated design that makes it exceptionally well-suited for long-distance journeys.
Compact, versatile and smart SUV.
Optimal ground clearance and intelligent balance control system.
The spare wheel is behind.
The bad road suspension is very sturdy, the crab hug on the pass is very compact and does not shake.
Spacious passenger compartment, sophisticated interior design and comfort.
Ford Tourneo is equipped with a 2.0L Ecoboost petrol engine that delivers the desired power while saving fuel.
Equipped with intelligent technology with many utilities to help elevate the driving experience to a new level.
No worries, just focus on driving safely because Ford Tourneo is truly a reliable companion on every journey.
SYNC entertainment technology: SYNC Gen 3 voice control.
Front driver's seat 8-way power adjustment.
Rearview mirror: Automatically adjust 2 modes day / night.
Audio system: AM / FM, USB, Bluetooth, 6 speakers (6 speakers).
Rear suspension: Rear suspension uses sports shock absorbers.
Front suspension: Independent suspension, dual swingarm, cylindrical lobe, and damper.
The high ceiling design makes the space in the car spacious and airy.
Control Balance with AdvanceTrac Vehicle Tilt Reduction.
Blind Spot Warning System & Crossing Vehicle Warning System.
Lane Departure Warning and Lane Maintenance Assist.
- Ford vehicles where customers want the most: fuel economy, technology, safety and outstanding performance You'll also discover Ford vehicles with innovative designs, including impressive interiors and stunning exteriors
- FORd focuses mainly on 2 main segments: SUVs and Commercial Vehicles and The difference of this car is the modern interior suitable for all ages
Ben Thanh Ford is committed to delivering a comprehensive customer experience, serving as a one-stop solution for all purchasing, maintenance, and repair needs With two strategically located headquarters at 831 Truong Chinh and 39 Che Lan Vien in Tan Phu District, Ho Chi Minh City, Ben Thanh Ford is positioned in a prime area that facilitates easy access for customers This central location acts as a vital gateway for the flow of goods from both Eastern and Western provinces, particularly benefiting the Northwest region, and presents significant opportunities for market share growth and development.
Organizing a weekly sales program combined with a test drive at a cafe in Ho Chi Minh city orneighboring provinces on Saturday (twice a month)
Car Cost (VND) Price (VND)
Premium Ecosport Ranger Explorer Transit Tourneo Everest Raptor
- (Accessories Sales) Thanh Ford has many incentives on service and warranty such as discount on accessories, discount on oil, warranty on tires help customers have more choices
- (Autoshow) Many new models are displayed at events to promote and reach customers
- ( Test drive) test drive program to bring customers more experiences and choices
- ( Customer Gratitude) to thank customers for trusting to choose
Sale forecast
Sale plan Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec FY
- Market size ( units) = Frequency/ year * Penetration POTENTIAL MARKET SHARE & SALES
- Market share = Sell out in unit : Market size (units)
Market size ( units)- = Frequency/ year * Penetration
- Market share ( 2021) = Sell out (2021) : Market Size ( 2021)
- Market share ( 2022) = Sell out (2022) : Market Size ( 2022)
- Market share ( 2023) = Sell out (2023) : Market Size ( 2023)
Market budget
Youtube Advertising 20 Facebook Advertising 120 Billboards Advertising 50