ASSIGNMENT ON MARKETING MANAGER TOPIC ANALYSIS OF MARKETING STRATEGY OF VINFAST

HO CHI MINH UNIVERSITY OF BANKING FACULTY OF BUSINESS ADMINISTRATION    ASSIGNMENT ON MARKETING MANAGER TOPIC: ANALYSIS OF MARKETING STRATEGY OF VINFAST Instructor: Nguyen Thi Thanh Nhan Team: Class: MAG309_212_7_L14_TA HO CHI MINH, 2022 0 TABLE OF CONTENTS INTRODUCTION PART 1: THE THEORETICAL BASIS 1.1 Product 1.2 Price 1.3 Place 1.4 Promotion PART RESEARCH STATUS AT VINFAST 2.1 Overview of Vinfast company 7 2.1.1 Location of VinFast's factory 2.1.2 The meaning of the VinFast brand logo 2.1.3 Slogan 2.2 Business situation of VinFast brand 10 2.3 Marketing mix strategy of VinFast company 11 2.3.1 Product 11 2.3.2 Price 12 2.3.3 Place 14 2.3.4 Promotion 15 2.4 Vision and Ambitious of Vinfast 16 2.4.1 Vision 16 2.4.2 Ambitious 16 PART CONCLUSION 19 3.1 Evaluate 19 3.2 Propose 20 References 21 0 TABLE OF FIGURE Figure factors in the Marketing mix ……………………………………………… Figure Product in the Marketing mix Figure Price in the Marketing mix Figure Place in the Marketing mix Figure Promotion in the Marketing mix Figure Vinfast's products are being distributed Figure Vinfast factory Figure Vinfast's car factory Figure Vinfast logo Figure 10 "Intensity of Vietnamese spirit" Figure 11 VinFast car manufacturing factory put into operation 10 Figure 12 Policy "PRIOR VND - YEARS WARRANTY - Vinfast" 11 Figure 13 Vinfast's brand positining 11 Figure 14 Vinfast test drive program: "Elite Class" 13 Figure 15 Price policy of "3 No" 14 Figure 16 VinFast and General Motors agree to cooperate in Vietnam 15 Figure 17 Vinfast at the 2018 Paris Motor Show 15 Figure 18 the program "Test drive VinFast Lux - Experience class" 16 Figure 19 Lux A 2.0 sedan and Lux SA 2.0 SUV to the Paris Motor Show 17 Figure 20 Vinfast's marketing mix strategy 19 0 INTRODUCTION Nowaday along with the strength of socio-economic development, the number of enterprises in the fields in the market is increasing This creates fierce competition between companies, not all brands easily create position and prestige for customers To create a highlight, attractiveness to the target customer, one of the ways not to be mentioned is marketing Every product in the enterprise market must develop the right marketing strategy and plan, thus attracting attention and consumption Once effective marketing management is implemented, businesses will be able to quickly navigate the development path while actively seeking ways to overcome and overcome risks and hazards in the market while also contributing to improving the efficiency of using resources as well as improving the position of the business A good example is Vinfast, which captures the market so far no unit has pioneered in the production and assembly of cars in Vietnam, mainly in the form of import and resale And besides, the travel demand of people is also increasingly enhanced, especially the need to travel by car, so Vinfast has decided to start a business in the field of automobiles and motorcycles with the support of Vingroup with the marketing strategy is also highly appreciated, the products attract the strong attention of consumers 0 PART 1: THE THEORETICAL BASIS 4P in marketing, also known as marketing mix, is a term coined by Neil Borden in 1953 Although it’s a classic marketing strategy, it’s never obsolete, but on the contrary, it's also trusted by the world's giants to apply its typicality and effectiveness It’s often applied by businesses as a marketing tool that enhances revenue and achieves a marketing focus in the target market Marketing mix made up of factors including: Product, Price, Place, Promotion Figure factors in the Marketing mix 1.1 Product The product is the most important factor and determines the success of the marketing campaign because the product is going to be the starting factor, the foundation for developing the remaining factors: Price - Place - Promotion Therefore, businesses should focus on product development research, whether the product is in demand in the market or not? Quality, what's the design? What Figure Product in the Marketing mix does it stand out from? The product of a business is not good, which means that all the development losses of the business come to failure To determine what to sell, you must understand the potential customer's needs for the product/service and then, adjust the product that you will sell to meet those needs The more you meet your customers' expectations, the more opportunities you have for them to make your purchases, introduce you to others, and come back again in the future 1.2 Price This is the only element in the marketing mix 4P strategy that businesses get back value from customers It is usually expressed in the cost a person spends to buy the business's product The price element often accompanies product and market planning in the 4P marketing mix Issues that businesses need to consider about prices are pricing, 0 discounts, purchase financing, hire purchase and subsidies Pricing a product in the market is a marketing art that each business needs to have specific strategies Here are some suggestions: Adjusting the discount structure: you can easily see that all businesses now have a minimum purchase price for new customers to apply promotional policies such as freeship, 10% discount, Figure Price in the Marketing mix – Charge extra for services outside office hours: Businesses can completely increase fees for urgent orders, needing fast delivery - Increase consumption of high-margin products For example, a clothing business, the profit earned from women's clothing is higher than that of men's clothing, increasing marketing to sell more women's clothing 1.3 Place The third element in the marketing mix 4P is known as the product distribution locations, from which customers can buy products or services of the business Distribution channels include direct stores selling products or ecommerce platforms on Figure Place in the Marketing mix the Internet This factor emphasizes availability in the market: at the right time, in the right place and in the right quantity that the customer requires In this P, you need to pay attention to the location, distribution channels, market share, market on the Internet, customer service level, logistics , to come up with an effective marketing strategy 1.4 Promotion The last but very important factor in the 4P marketing mix because even though the product is good, the price is reasonable, it is easy to exchange, but it is not promoted 0 much, customers cannot know about your product Product promotion is the process of introducing products to customers, creating product awareness and creating sympathy for consumers Some activities are aimed at promoting products such as catalogs (advertising publications), advertising on television, publishing articles in newspapers, sponsoring large events, using online marketing tools such as email, social networks (Facebook, Instagram, LinkedIn, Twister, ) to promote the brand In addition, for successful promotion, Figure Promotion in the Marketing mix businesses need to be creative, know how to create links between customers and products thanks to cultural emotions 0 PART RESEARCH STATUS AT VINFAST 2.1 Overview of Vinfast company VinFast is a start-up company in the automotive field with the backing of Vingroup - the largest private enterprise in Vietnam, that's why we are free to design cars in a new and bold way From the very beginning, our goal was to create world-class cars with Vietnamese identity With Vingroup, in the future VinFast will be a new and breakthrough field in the development strategy, playing a key role in the corporation The first time the Vietnamese car brand has appeared at the world's largest auto shows ❖ Products of Vinfast Figure Vinfast's products are being distributed On October 2, 2018, Vinfast officially introduced two Vinfast products: Vinfast LUX A2.0 and Vinfast LUX SA2.0 at the Paris Motor Show Currently, VinFast is distributing electric cars and motorbikes in the Vietnamese market, in which names such as Fadil, VFe34, Lux A2.0 and Lux SA2.0 respectively rose to stand TOP best-selling cars in the segment recently In particular, Vfe34 is the first electric car model of VinFast that has achieved a record of more than 3000 orders within 24 hours from the time of sale Customers who deposit the VFe34 model before June 30, 21 will enjoy a preferential price of 590 million, free battery rental for the first year 2.1.1 Location of VinFast's factory On June 14, VinFast car factory complex with an area of 335 hectares was located in Dinh Vu industrial zone, Cat Hai, Hai Phong, which was formerly a shrimp farming swamp of Cat Hai people After just over a year from the date of commencement, the 0 VinFast factory complex has taken shape, most of the factories have been completed and are assembling production lines Figure Vinfast factory The design capacity of the plant in phase is 250,000 vehicles/year, phase is 500,000 vehicles/year, with a production speed of 38 vehicles/hour The production process at the factory is completely synchronized and closed with workshops: stamping workshop, body welding workshop, painting workshop, engine workshop, auxiliary workshop and assembly workshop which are seamlessly connected and automated with the factory thousands of robots and intelligent manufacturing operating systems provided by Siemens and SAP Figure Vinfast's car factory 0 2.1.2 The meaning of the VinFast brand logo Design orientation VinFast logo with criteria: represent for Vietnam, for Vingroup and rise VinFast is the abbreviation with great meaning of Vietnam - Style - Safety Creativity - Pioneer The meaning of the logo that VinFast wants to show is for Vietnam, Vingroup and the ability to rise to new aspirations In addition, the "V" symbol also affirms the victory of "Victory" The interlocking of the letter