PRINCIPLES OF MARKETING ESSAY TOPIC VINFAST’S MARKETING ANALYSIS

THE FINANCIAL UNIVERSITY OF FINANCE – MARKETING FACULTY OF MARKETING  PRINCIPLES OF MARKETING ESSAY TOPIC: VINFAST’S MARKETING ANALYSIS 10 HO CHI MINH CITY, 2021 PREFACE -The automobile industry is always the pride of many countries because the automobile is considered the standard for a developed industry, with the development level of technology, design, production capacity, supply chain, etc distribution as well as labor potential In Vietnam, Vingroup is making an important contribution to creating an industry, thereby pushing many other supporting industries to go up, that is the motorcycle and car manufacturing industry at VinFast It not only contributes to the development of a leading industry in Vietnam, but also shows the desire to build a world-class Vietnamese automobile brand So today our group chose the topic of analysis VinFast's marketing strategy From there, we want to contribute to giving the most overview of the path of the first car brand in Vietnam 10 INTRODUCTION ABOUT VINGROUP AND VINFAST A GENERAL INTRODUCTION ABOUT VINGROUP: Vingroup Group - Joint Stock Company (referred to as "Vingroup Group"), formerly Technocom Group, was established in Ukraine in 1993 by young Vietnamese people, initially operating in the food and beverage industry great success with the brand Mivina In the early years of the 21st century, Technocom was always present in the ranking of Top 100 largest enterprises in Ukraine Since 2000, Technocom - Vingroup returned to Vietnam to invest with the desire to contribute to the construction of the country With a long-term vision and a view of sustainable development, Vingroup has focused on investing in tourism and real estate with two initial strategic brands, Vinpearl and Vincom With continuous efforts, Vincom has become one of the No brands in Vietnam in real estate with a series of complexes of commercial centers (commercial centers) - offices - apartments in big cities, leading the trend of smart urban - eco-luxury in Vietnam In January 2012, Vinpearl Joint Stock Company merged into Vincom Joint Stock Company and officially operated under the Group model with the name Vingroup Group Joint Stock Company In the spirit of sustainable and professional development, after its establishment, Vingroup has restructured and focused on developing with many brand groups such as: Vinhomes (A system of highclass serviced apartments and villas); Vincom (System of commercial centers, level); Vinpearl (Hotel, tourism); 10 Vinpearl Land (Vin entertainment (Health); Vinschool (Education); Vincharm (Beauty care); VinFast (cars and electric motorcycles) With these achievements, Vingroup is being evaluated as one of the powerful private economic groups, with a sustainable and dynamic development strategy, with the potential for international integration to rise to the regional level and the world B GENERAL INTRODUCTION ABOUT VINFAST: VinFast (or VinFast LLC), the full name is Product Limited Liability Company VinFast Manufacturing and Trading, is an established Vietnamese automobile manufacturer in 2017 The company is a member of Vingroup construction and real estate group and was founded by Pham Nhat Vuong The company name stands for the phrase "Vietnam - Style - Safety - Creativity Pioneering" (the letter Ph changed to F) - VinFast is a project in the field of automobile and motorbike manufacturing - one of the leading industries, having an impact on many other industries that Vingroup has only joined for more than a year With the aspiration to become the leading car manufacturer in Southeast Asia, Vingroup has invested a lot in this project By the end of the third quarter of 2018, this group had poured more than 13,600 billion VND into VinFast, an increase of more than 12,900 billion VND (equivalent to about 580 million USD) compared to 685 billion VND at the beginning of the year VinFast car and electric motorcycle production project includes specialized areas located in Lach Huyen, Cat Hai, Hai Phong, expected to have a total investment of up to billion USD 10 VinFast factory complex has invested and put into use the most advanced production technologies such as: stamping workshop according to industry standards, body workshop with more than 1,000 robots, 100% automatic spot weldings line, a paint shop with state-of-the-art technology and 79 applied robots, an assembly workshop with fully automated moving processes and state-of-the-art testing equipment To accelerate market entry, VinFast has relied on partnerships with various foreign companies in terms of design, production equipment and components To achieve a localization rate of 60%, VinFast has also cooperated with international suppliers to establish component factories in the complex in Hai Phong In June 2018, VinFast signed a Memorandum of Understanding to establish a joint venture with Aapico Hitech Plc., one of Thailand's leading auto parts manufacturers, to build a body shop in Thailand complex to supply VinFast products VinFast also planned to have eight auto parts factories set up, including four factories invested by VinFast, two joint ventures between VinFast and suppliers, and two factories wholly owned by VinFast supplier At the same time, the company also acquired GM Vietnam, including a factory in Hanoi, dealer network and staff VinFast's Fadil model is manufactured under license from GM VinFast seems to have a vision for the future In the initial phase, the company will develop cars using internal combustion engines, but it also plans to catch up with industry trends by developing battery electric vehicles through its partnership with EDAG company Engineering of Germany VinFast's mission is to become the leading automobile manufacturer in Southeast Asia and build a world-class Vietnamese brand, thus creating a new hope for the Vietnamese 10 auto industry VinFast President, Ms Le Thi Thu Thuy, has affirmed that the company wants to target a luxury brand and will also expand exports to foreign countries Thus, not only is VinFast determined to fulfill its goal of producing cars in the Vietnamese market, but VinFast is also making great strides to realize its ambition to export Vietnamese cars abroad MARKETING ENVIROMENT Marketing environment is the combination of the actors and forces outside marketing that affect the company’s ability to build and maintain successful relationships with target customers Marketing environment includes: the macro-environment and the micro-environment A THE MACRO–ENVIRONMENT: Demographic environment: According to the Vietnam Statistics Office published in 2019, the total population of Vietnam is about 96.484 million, of which the percentage of men accounts for 49.8%, making it the third-most populous country in Southeast Asia The employed population aged 15+ is about 49.9 million, the services account for the highest rate with 39% and the lowest is agriculture with 28% The two cities of Vietnam, Ha Noi and Ho Chi Minh City have a population density 10 times higher than the whole country at 2.39 people/km2 and 4.363 people/km2 The above data shows that the demand for car ownership in Vietnam is very high at the present and will continue to increase in the future because the population size is getting bigger and bigger, the quality of labor resources is improved Due to the pioneering in car manufacturing in Vietnam, VinFast has many advantages from the domestic market, the proof is that in September 10 2017, Vingroup’s car company successfully tested their first car model – Lux SA 2.0 which created a fever throughout the media, car lovers in particular and Vietnamese people in general Economic environment: For luxury goods such as cars, customers' s income has a great influence on product consumption, especially in the upper-class and middleclass According to the General Statistics Office, the average income per person per month in the whole country in 2020 at current prices is about 4.23 million VND, down about 2% compared to 2019 In fact, the income of Vietnamese people is still growing quite well, which creates favorable conditions for people to have the opportunity to access luxury products such as cars, electric vehicles, etc Natural environment: Natural factors in Viet Nam are exploited by VinFast such as terrain, rain, land, climate, weather, etc Besides that, the climate change is increase, which becomes a problem for the car industry According to the Tuoi Tre newspaper, VinFast has produced 15.000 Klara electric motorcycles that consumers can move freely and still reduce emissions into the air In addition, they also have environmental protection campaigns such as ‘Vi tuong lai xanh’, ’15.000 nguoi chung tay cung VinFast giam o nhiem moi truong’, etc VinFast has policies to help businesses create products that are not only quality but also adaptable to natural conditions This inspires 10 their customers, especially young people to be environmentally conscious and also contributes to raising their brand Technological environment: Science and technology are important factor that helps a first Vietnamese car brand like VinFast compete with other famous brands in the domestic market and can reach out to the world in the future Although most of the components are imported, VinFast has applied modern science and technology in assembly such as using robots in most production processes, which help speed up production, high accuracy and safety for humans Political environment: Vietnam is a politically stable country, riots is rare, the problem of corruption is gradually being overcome so the economy in general and the car industry in particular are not affected by politics much On the other hand, because of the tension in the relationship between Vietnam and China, VinFast encountered certain difficulties in importing components from China Besides that, according to the online newspaper VTV, for domestically assembled cars, before Decree 57/2020 of the Government, car assembly enterprises still had to pay tax on imported components for domestic assembly The average tax rate is 30% to 45% depending on the type of car components or assemblies imported to Vietnam, which also limits VinFast’s car production Cultural environment: In Vietnam, people used to consider cars as a product of great value, inappropriate in the context of agriculture being the majority However, at present, the usage trend of Vietnamese people is shifting, cars are gradually 10 becoming a popular means of communication in urban areas and also gradually appearing in rural areas B THE MICRO-ENVIRONMENT: The company: The board of directors has a great influence on the decisions, plans, and operational goals of the enterprise VinFast company is a member of Vingroup founded by Mr.Pham Nhat Vuong, managing director by Mr James Benjamin DeLuca and Le Thanh Hai and several other leaders In terms of infrastructure, according to Wikipedia, VinFast has a main production and assembly plant located in Hai Phong City, The factory covers an area of 335 hectares with a total investment of 3.5 billion USD and is one of the (VinFast’s factory in Hai Phong) largest industrial projects in Vietnam The company cooperates in technology, engineering, strategic consulting support, human resource training with the largest global manufacturers of automobiles, spare parts and heavy industrial equipment such as BMW, Siemens AG, ThyssenKrupp, etc Suppliers: To achieve the goal of producing high-quality cars that meet international standards, VinFast has focused on finding qualified parts and components suppliers Some VinFast’s suppliers such as VAPA provides plastic components, ABB provides 1200 robots for production, etc 10 Intermediaries: Customers can search for VinFast products right on VinFast's website, at car shows or at distribution places Because VinFast develops an electric vehicle system that is not yet popular in Vietnam, the distribution and (Vi F t’ h i H Chi Mi h Cit ) arrangement of charging stations face many difficulties but still achieve certain results According to Wikipedia, as of December 2020, the business has 55 showrooms, 30 authorized dealers, and 57 service workshops, including 16 VinFast Chevrolet points Electric motorbike dealer: 119 selling points, 80 warranty points, 559 battery exchange and charging stations (VinFast’s electric car charging station in Long Bien) Customers: Customers are the most important in micro-environment VinFast targets the consumer markets In addition, they have many programs aimed at putting customers first Gifts such as gifting luxury resort packages even after buying a car for a year show the respect of VinFast for their customers Mr Ngo Duc Hai, Director of Strategy - Markets Funzilla Vietnam Company highly appreciates VinFast's respect for their customers, "The 10 10 - A team of highly qualified and professional technical staff - Dedicated car care service - Reasonable maintenance costs B PRICE: Back to the case of VinFast with the marketing strategy of "Market leader" The pricing strategy that VinFast uses is a market segmentation strategy (Low - Mid - High) Fadil cars cost from 414 to 490 million VND, competing with Yaris Toyota, I10 Hyundai, Morning Kia LuxA2.0 car is priced from 1,129 to 1,378 million VND, competing with Camry Toyota, Mazda 6, Accord Honda VinFast cannot use the market penetration pricing strategy (cheaper price makes it easier for cars to enter the market) VinFast also does not use the skimming price strategy (high price) because Vin is a new member entering the industry without a name or experience Along with the price strategy by market segment, VinFast also makes full use of VinFast's parking price adjustment factors that are easier to receive such as: Gift voucher up to 70 million VND when buying Fadil car, gift voucher 150 million VND when buying car LuxA and give a voucher of 200 million VND when buying LuxSA for customers who already own Vin's houses under billion VND, from 2-3 billion VND and over billion VND Howerver, at the Vietnamese public launch on November 20, VinFast announced the original prices of two SUV models Lux SA 2.0 and Sedan A 2.0, VND 1,818 billion and VND 1,366 billion, respectively; with the Fadil, the selling price is 423 million Vingroup's car company made the audience admire when offering a "3-no" price policy to support consumers (no depreciation, no financial costs and no interest"; accordingly, the price of the SUV decreased to 22 10 1,136 billion VND, Sedan 800 million VND and Fadil 336 million VND, equivalent to a decrease of nearly 40% The above price is equivalent to the product cost plus selling expenses With this price, VinFast affirms its desire to bring world-class products to a large number of consumers, in order to join hands in building a Vietnamese brand This is a reasonable step, does not violate any regulations on price and is a program to attract shoppers in the early stages But in case of necessity, VinFast can still return to the original selling price C PLACE: To exploit the vast potential of the car and electric scooter market in Vietnam VinFast has effectively employed the term P-Place in the Marketing Mix and combined many various forms to serve its objective of covering the distribution system across the provinces Direct marketing channel: VinFast has opened 70 showrooms in more than 30 provinces in Vietnam to directly sell its genuine car lines to customers Moreover, customers can also order and pay directly on VinFast's website and then receive their goods at the showroom of their choice Even in the midst of the covid-19 pandemic, VinFast continues to (VinFast showroom system) provide various types of direct service to the customer site This direct marketing channel helps VinFast in reducing intermediary costs, contacting customers directly and receiving direct input from customers in order to improve the product and suit the needs of customers 23 10 Indirect marketing channel: VinFast also cleverly applies the indirect distribution method, which is selective distribution by a 1-level distribution channel (VinFast -> distributors -> customers) Because VinFast entered the market later than competitors and employs a "market leader" marketing strategy, VinFast must cover the market quickly and effectively through showrooms and selected distributors in 63 provinces and cities across the country Proof: instead of building a distribution channel by themself, VinFast acquired Chevrolet's entire car distribution system in Vietnam and at the same time set strict standards to ensure that distributors were selected in comformance with VinFast's selection criteria More than 100 authorized distributors and VinFast-Chevrolet showrooms have been established to now, covering and greeting all consumers in across Vietnam Vertical Marketing System (VMS): To serve the control and tight binding of different distributors, VinFast has used a vertical marketing system (VMS) to unify its members in two main ways 3.1 Corporate VMS: VinFast is responsibility for everything that has to with its product VinFast creates products, which are then distributed to VinFast-owned Showrooms and other VinFast-authorized distributors Consumers will be able to buy VINFAST’s products from these authorized Showrooms and Distributors 3.2 Contractual VMS: VinFast focuses on applying the manufacturer-sponsored retailer franchise system to save costs and sell more goods than VinFast operates alone So far, more than 70 distributors have met VinFast's targets and have 24 10 been authorized to business, such as: Authorized distributor - 3S VinFast My Dinh 1; Authorized distributor - 3S VinFast Thuan Nhan, These franchise contracts bind the coordination and resolve conflicts between distributors and VinFast Horizontal Marketing System (HMS): Horizontal marketing system is also applied by VinFast to diversify customers to many different market segments in both the distribution of vehicle products and the distribution of services related to VinFast’s products 4.1 The distribution of vehicles: VinFast has signed a strategic partnership deal with GM Group to use the production plant, sales agent system and customer care Then, VinFast converted those agents into a two-brand VinFast – Chevrolet agents system By using an existing distribution channel, VinFast has saved time and costs for building the system as well as helping VinFast reach customers faster Due to Vingroup’s strong support, Customers who want to buy VinFast cars can also buy them at showrooms at 60 Vincom commercial centers across the country 4.2 The distribution of services: According to the company's plans, VinFast plans to deploy more than 2,000 charging stations with more than 40,000 charging ports for electric scooters and electric cars in 63 provinces and cities by 2021 VinFast has been looking for partners who have ground in accordance with VinFast's targets to collaborate and cover all provinces and cities across the country, such as parking lots/bus stations, rest stops, gas stations, shopping malls, apartment buildings, office buildings, highways and many other suitable locations Proof: VinFast has signed an agreement with Vietnam Oil Corporation - JSC (PVOIL) 25 10 to deploy a system of charging stations and battery rental at petrol and oil trading points nationwide; The company continues to sign an agreement with Petrolimex to build electric vehicle service points such as charging, battery rental, inspection, maintenance and repair of cars and electric scooters; and VinFast has opened 18 service shop at Vincom Center chain VinFast's distribution channel system at present: After VinFast simultaneously opened 64 showrooms integrated with the Vin3S experience in 30 provinces and cities on March 28, 2021, VinFast's distribution channel system now has over 200 showrooms with authorized distributors and 559 exchange stations / (VinFast 3S Showroom at Ha Noi) charging batteries nationwide With that strong and methodical investment, VinFast plans to open 450 showrooms in 2021 D PROMOTION Promotion mix strategy: VinFast is a manufacturer of cars and electric scooters with high productivity of about 250,000 - 500,000 cars and million electric scooters a year Therefore, combining both PUSH AND PULL promotion mix strategies will increase consumer demands while also pushing products to showrooms and VinFast's distributors have been built to cover all provinces in Vietnam The result of that great strategy is that after only years of debut, VinFast has defeated a number of industry giants reach rank fourth in market share and the 26 10 cars quickly have sales leading in segments: A-class cars , E-class Sedans and SUVs (statistics in 2020) 1.1 Push strategy: From the early stages of building distribution channels, VinFast has been actively posting selection information on media sites in order to find distributors across the provinces to push VinFast’s products to the market as quickly as possible VinFast has also used promotion tools to directly influence agents and distributors or cooperation partners Such as: these business establishments will be invested by VinFast according to the company's 5-star brand identity standards to bring synchronous and high-class receptions to customers; Allowing distributors to use promotion tools that VinFast used in the Pull strategy; And receive preferential policies, bonuses according to attractive sales As a result, VinFast's authorized distributors can sell at the same price as the product announced by VinFast on its media channels and attract customers with the 5-star showroom space that VinFast invested in designing Moreover, based on the tools of the Pull strategy that VinFast has used to customers, it will bring a source of demand to actively find the nearest VinFast’s product sales locations Authorized Distributors will often seek to increase revenue by using promotional tools such as sales commissions, other warranty policies and service offers that are specifically applicable at that branch 1.2 Pull strategy: VinFast entered the Vietnamese car market later than other competitors, so VinFast used a pull strategy with promotion mix tools to reach consumers as quickly as possible With the acquisition of an existing distribution system, building Showrooms and searching for distributors nationwide, VinFast has 27 10 covered its distribution channels throughout Vietnam Through the Pull Strategy, it will stimulate consumers' demand to learn about the product at those distribution channels that have been prepared and bring great profits to businesses as well as authorized distributors With the development based on the pull strategy, different distributors will actively come to VinFast to get authorization to sell the company's product line The evidence that VinFast now has more than 200 direct selling locations nationwide, including more than 100 authorized distributors that is a sign of VinFast's coverage and potential customers are increasing rapidly Moreover, Vingroup's huge support is not only the vast ecosystem of VinPearl - Vinhomes - VinCom - but also Vingroup has signed a cooperation agreement with Dassault Systemes to apply the 3DEXPERIENCE platform that allows the transformation of business models from networks to ecosystems, connecting people, ideas, data together From there, VinFast can easily access information sources of target consumers to manage the production process, supply chain and develop a strategy to approach the electric vehicle market across the country With a huge investment of $3.5 billion of Vingroup that VinFast can use to attack the market right from the first days of its debut Promotion mix tools: VinFast regularly uses a combination of different communication tools to match marketing strategies such as VinFast's brand positioning as "Vietnamese brand car manufacturer" and communication strategy is always associated with the message of "intense Vietnamese spirit" VinFast has been attracting the attention of customers in the Vietnamese car market through promotion tools: 2.1 Advertising: 28 10 This is one of the tools that VinFast spends a lot of money on advertising campaigns in launching new products or advertising periodically during the year Especially, to advertise its new products, VinFast will promote advertising coverage on social networking sites such as Facebook, Youtube, online newspapers and put posters on commercial centers of VinCom, public transport of VinBus, convenience stores of VinMart, apartments of VinHomes, hotels and resorts of VinPearl Understanding the Vietnamese people's social network usage habits is very large, VinFast did not ignore this delicious bait and implemented its advertising campaigns Such as: Paid for advertising tool on Facebook; Fanpages with high interaction regularly update information about VinFast products on Facebook; VinFast's paid promotional videos on Youtube are always mixed with the message "intense Vietnamese spirit"; Articles about VinFast's products on reputable online newspapers of VietNam like VnExpress, Dan Tri, Kenh 14, Vietnamnet,…Thanks to a powerful advertising tool and coverage all over the place can get the attention of consumers that VinFast's products now have a huge number of potential and loyal customers As evidenced by the 2020 statistics, VinFast sold a total of 29,485 cars and more than 50,000 electric scooters, which is a desirable number for a brand new to debut in 2018 as well as it proves that VinFast's advertising campaigns have been bringing great results 2.2 Personal selling: VinFast has more than 200 showrooms and different authorized distributors across the country to ensure management of customer relationships or consumer choice, so VinFast must use the personal selling tool to effectively sell its products and services Sales staff are selected by VinFast with extremely strict criteria, such as: High school graduation or higher (for electric scooter showroom), University or higher (for car showroom); At least 29 10 year of sales experience, preferably motorcycles, electric scooters, phones, and electronics (for electric scooter showrooms), At least year experience in car sales (for car showroom); Good-looking appearance, male height over 1m68, female height over 1m58, age under 30 Thereby, it can be seen that VinFast uses a quality Personal Selling tool with qualified and experienced sales staff who can be recruited into the ranks of VinFast VinFast does not train inexperienced employees, but to serve the strategy of "standing on the shoulders of giants" VinFast is willing to pay the best and most experienced people to work for it VinFast's strategy not only makes its staff increasingly strong, but also makes the human resources of competitors limited and weakened 2.3 Sales promotion: Important tool in stimulating consumers to buy products Especially in the sale of high-value products such as cars and electric scooters, sales promotion tools bring a lot of economic benefits and in occupying the market share of VinFast’s products Knowing that, VinFast has planned its promotions in a diversified way and stimulated the most customer demand Some typical VINFAST’s promotions: - The program "Thousands of gratitude gifts - Spreading love": Those who have bought VinFast cars before July 28, 2020 will be given VND 80-120 million if they buy an additional Lux SA2.0 or Lux A2.0 car, which is deducted directly from the selling price Most especially, old customers who have bought a car can optionally give this offer to others or use it for themselves if they feel interested in the program that VinFast offers By this way, old customers who have bought VinFast cars become "brand ambassadors" and promote more images of VinFast to others Giving incentives to people who have never bought a car through sharing from old 30 10 customers is considered "zero cost marketing" that both encourages word of mouth marketing and enhances new customers' confidence in a new brand - VinFast once launched a promotion "0 VND registration tax and 5year warranty" hitting consumers' minds because car taxes in Vietnam are very high, that's why Vietnamese people often don't buy cars If the value of the car is billion VND, the tax on the car is more than 100 million VND In addition, the company also combines with 24/7 free rescue to help customers trust and feel secure during use of VinFast’s car - All customers who buy VinFast’s cars from the first day of sale until the end of December 31, 2020 will receive a 5-star holiday at Vinpearl system nationwide Specifically: a resort package for customers who buy Fadil worth 13 million, for Lux A2.0 and Lux SA2.0 worth 26 million VND; VinFast President owners are given a resort package worth up to 330 million VND All include meals, VinWonders entertainment tickets and unlimited visits to Vinpearl Safari Vinhomes residents get free monthly parking for two electric scooters and one VinFast car It can be seen that VinFast's customer gratitude program is too good, most of which are based on the great ecosystem of Vingroup The way of the Vietnamese automaker comes from the perception that customers are not only buyers but also a long-term partner, thereby making them loyal consumers of VinFast’s products - Along with many monthly discount vouchers in order to stimulate consumers to remember VinFast's products 2.3 Direct Marketing: In order to reach customers directly and help customers immediately receive the business's reply message, VinFast does not ignore the Direct Marketing tool to serve its potential customers For example, VinFast has 31 10 developed its own communication websites such as VinFast Vietnam fanpage on Facebook, VinFast Official Youtube channel, VinFastauto.com website and many different social networking sites Thereby, the company will reach out to most potential consumers across the country as well as through these information pages, customers in need will easily find out directly information about the company's products and will receive answers to their questions if any In addition, VinFast also uses the form of Telemarketing for customers who have needs by the most modern method without disturbing them 2.4 Public relation (PR): PR tool is a very important tool that VinFast must use to build the brand image of Vietnam for Vietnamese consumers A newly born brand is very difficult to gain the trust of consumers and without trust, they will never spend as much money as to buy a car Understanding that, VinFast has covered up by using the media message "intense Vietnamese spirit" to attack the national pride of Vietnamese consumers Some of VinFast's major media events: - VinFast built Vietnam's first automobile factory within just 21 months of construction, being the only automobile factory in Vietnam that masters the core stages and capable of self-manufacturing the main components of a car such as the body, the engine Moreover, the factory has the capacity to selfstamping large plates and the ability (Inside VinFast Factory) to process and manufacture motors on site according to high European standards This preparation has made all Vietnamese newspapers publish news about this VinFast factory, increasing 32 10 the curiosity and excitement of Vietnamese people towards a Vietnamese brand - VinFast debuted to the world on October 2, 2018 at the Paris Motor Show which is the world's largest auto show with the first two models Lux A2.0 and Lux SA2.0 of VinFast That is no other Vietnamese brand car company can Moreover, VinFast was also honored as a "new star" of the world car industry by a leading European car organization, AutoBest, and appeared in the world's major newspapers Through that world debut created a shock for Vietnamese people, a Vietnamese brand that can miracles can only be VinFast Moreover, at the Paris Motor Show event, VinFast's brand representative had the appearance of Miss Tieu Vy and world famous player David Beckham with the image of an elegant gentleman, a famous player, a successful businessman, a notorious car collector Making Vietnamese people have a different view of the Vietnamese car company, a look full of admiration and pride Making Vietnamese people see the Vietnamese car manufacturer in a new light, with admiration and pride - After the launch at the Paris Motor Show, at the inauguration event of VinFast's car factory in Hai Phong, Prime Minister Nguyen Xuan Phuc, who is now the President of VietNam, directly visited VinFast's headquarters and tested VinFast cars More specifically, it was President Pham Nhat Vuong who personally took the wheel Then Prime Minister Nguyen Xuan Phuc gave a speech praising and honoring the development of VinFast, he also emphasized that this is an important thing for the country's economy and the starting point for a Vietnamese branded industry that can compete with the powers of the five continents This event has impacted and changed Vietnamese people's thinking and thinking for a Vietnamese brand, creating a message that Vietnamese brands are not inferior to other developed countries 33 10 - The story of the extraordinary and special journey of a Vietnamese car company - VinFast has inspired Discovery Channel which is America's leading pay TV channel to make a documentary film "Geared for the future" Under the lens of the film, VinFast shows a strong development ambition of the Vietnamese people that makes any viewer will have a special impression of VinFast 2.5 Sponsorships: VinFast uses sponsorship tools to bring the Vietnamese brand image closer to consumers Some special sponsorship of VinFast: - VinFast sponsored 393 cars to serve the ASEAN Conference to transport delegates during their arrival in Vietnam to attend the Conference Moreover, VinFast has sponsored and cooperated with ministries, agencies and local authorities to use VinFast cars for the public system and public cars such as bringing VinFast Lux A and Lux SA cars to serve in the industry of the traffic police It can be seen that VinFast wants to bring a brand image for the people and the country in order to gradually change the way Vietnamese people view the domestic car company - VinFast is the main sponsor of the Formula (F1) race in Vietnam with the name Formula VinFast Vietnam Grand Prix 2020 VinFast has become the youngest main sponsor in the history of the World F1 Racing Championship beside the world's top famous brands This gives VinFast the opportunity to reach more than 500 million speed sports fans around the world VinFast's logo will be present at the most prominent positions at the F1 Vietnam racetrack as well as 34 10 in all media publications at the Formula VinFast Vietnam Grand Prix race Thereby, VinFast continues to transmit the message of "intense Vietnamese spirit" and bring pride to the Vietnamese people - VinFast is the exclusive sponsor and companion of the Future Blue Innovation 2021 contest in the past time with the desire to find innovative solutions to protect the environment from Youth Union members and youth across Hanoi city Through this program, VinFast is building eco-friendly images and promoting its electric scooters and electric cars as well as raising consumer awareness for future products RECOMMENDATION VinFast can be supposed to be the biggest venture arrangement of Vingroup ever Getting "public pride" and sufficient potential as far as notoriety and money have assisted VinFast with making a wonder with just 21 months from initiation, development to true activity of the industrial facility and just 10 months to bring it's anything but A 2.0 vehicles and Lux SA 2.0 SUVs to the Paris Motor Show With a quick development rate, just as interest in the advancement of comparative plan and innovation on German models, it shows the longing to turn into the top vehicle brand on the planet But besides that, Vinfast still has some unavoidable shortcomings of a new brand Because of its relatively young age in the industry, Vinfast needs to prove stronger in terms of durability, less fuel loss and proven by users over time In addition, Vinfast needs to raise customers' awareness of "Vietnamese people use Vietnamese goods" and the spirit of national pride in its promotion Importantly, after the lawsuit happened between Vinfast and the owner of the YouTube channel Gogo Tv, the company's reputation was greatly affected Therefore, Vinfast needs to learn more about customer care and services as well as prove the company's quality products The company can tests to verify the durability 35 10 of the vehicle and the engine In terms of products, Vinfast needs to be more diverse in models as well as market segments, especially B- and C-class cars (Vinfast has not yet) For the Vietnamese market, we see that the market is primarily overwhelmed with economy-class models from Toyota, Mitsubishi or Hyundai, Nonetheless, models with plans and highlights that are near extravagance or elegance Extravagance vehicles appear to be infrequently collected and sold here In this way, when getting Italian plans and German innovation, yet the resale cost is just 50% of the models from a similar brand as Audi, Mercedes-Benz, or BMW, we can see the advantages VinFast's position, so Vinfast needs to exploit this factor in promoting to draw in more client fragments THANK YOU FOR READING 36 10 ... development of a leading industry in Vietnam, but also shows the desire to build a world-class Vietnamese automobile brand So today our group chose the topic of analysis VinFast's marketing strategy... become one of the No brands in Vietnam in real estate with a series of complexes of commercial centers (commercial centers) - offices - apartments in big cities, leading the trend of smart urban... A team of highly qualified and professional technical staff - Dedicated car care service - Reasonable maintenance costs B PRICE: Back to the case of VinFast with the marketing strategy of "Market