(TIỂU LUẬN) ESTABLISHING AN INTERNATIONAL MARKETING PLAN FOR HONDA TO PRNETRATE VIETNAM MARKET FROM 2021 TO 2023

HO CHI MINH CITY UNIVERSITY OF FOREIGN LANGUAGES - INFORMATION TECHNOLOGY FACULTY OF INTERNATIONAL BUSINESS ADMINISTRATION -*** FINAL GROUP REPORT ESTABLISHING AN INTERNATIONAL MARKETING PLAN FOR HONDA TO PRNETRATE VIETNAM MARKET FROM 2021 TO 2023 Course: 2020 – 2021 HCMC, June /2021 Subject: International Marketing TABLE OF CONTENT Executive Summary Present Marketing Situation 2.1 Hitting the customer’s psychology 2.2 Product variety 2.3 Massive communication and promotions 2.4 “I love Vietnam” and sympathy from customers .4 3- International marketing macroenvironment 3.1 Political 3.2 Economic 3.3 Social 3.4 Technological 3.5 Environmental 3.6 Legal .8 International marketing microenvironment .8 4.1 Competitive analysis .8 4.2 Suppliers .10 4.3 Consumers .10 SWOT Ananlysis .11 5.1 Strengths 11 5.2 Weaknesses 12 5.3 Opportunities 13 5.4 Threats 13 International Strategic Planning of STP 14 6.1 Segmentation 14 6.2 Targeting .15 6.3 Positioning 15 Honda's strategy to penetrate the Vietnamese market 17 7.1 Low-cost strategy 17 7.2 Differentiation strategy 18 Marketing strategy concepts (Adaptation / Standardization, Adapted standardization) 19 The International Marketing Objectives 19 10 Recommending international marketing strategy solution 20 Subject: International Marketing Executive Summary Motorcycles have recently become the most popular mode of transportation in Vietnam Currently, there are over 21 million motorcycles in circulation, with an average of four Vietnamese people per motorcycle and popular brand names such as Honda, Yamaha, Sym, and Suzuki , meeting approximately 90 percent of Vietnamese travel demand With the growth of the Vietnamese economy, the demand for motorbikes is increasing As a result, competition among motorcycle manufacturers in Vietnam is becoming increasingly fierce In order to attract customers while also satisfying their needs regarding product quality, reasonable price, fashion style, Motorcycle manufacturers have implemented numerous marketing strategies because marketing management is responsible for attracting and building relationships with customers by creating customer value and satisfaction so that the organization can sell as many products as possible and, more importantly, at a higher rate than its competitors However, it is difficult for any organization to create a successful marketing plan because the development of the marketing plan is influenced by situation analysis, which provides a collection of relevant market information at both the micro and macro levels of an organization Among motorcycles makers, Honda Vietnam makes a huge effort to remain their brand name and ensure the quality of product with a reasonable price And it is said that Honda motorcycles always take up the leading market shares in Vietnam making Honda to be the leading company in motorbike industry Honda Vietnam, a company that primarily supplies motorbikes and cars in Vietnam, must be mentioned Honda has attracted a large number of customers and earned the trust of the entire country Honda is the market leader in the Vietnamese motorcycle market Since its entry into this market, Honda's products have been well received by the Vietnamese people, and the majority of Vietnamese have had the opportunity to ride a Honda motorcycle at some point in their lives Honda’s history, Soichiro Honda founded Honda in 1946 and began manufacturing motorcycles in Japan Honda began expanding its business in the United States in 1959, and has since gradually expanded throughout the world Honda began selling automobiles in 1963 and has since significantly expanded its business from motorcycles and automobiles to power equipment, aircraft, and robots Honda is now a globally recognized brand that has grown to become one of the world's most powerful corporations In 1996, Honda entered the Vietnamese market The first plant in Vietnam was established in 1997 (B Thi, & X Thi 2009), and Honda started manufacturing at this time Present Marketing Situation Vietnamese people are certainly familiar with Honda-branded motorbikes, every out of 10 vehicles carry this brand when on the road For this brand from the land of cherry blossoms – Honda is a motorbike company that understands the psychology of the countries they visit, especially in Vietnam, Honda has gained a huge market share Honda's products are famous for being durable and extremely good quality, hitting the hearts of Vietnamese people Some products can be mentioned such as: Wave, Future, Lead, AirBlade, etc., has gained a large number of users, loved and used by many people Honda's main marketing strategy is "Coverage to all generations" which has been implemented very well and very successfully in Vietnam 2.1 Hitting the customer’s psychology Honda's current marketing strategy is very successful and more successful than competitors Honda comes from a country that is said to be "Meticulous to every detail", so as soon as it entered the Vietnamese market, Honda immediately won the hearts of customers Honda is very smart when understanding the psychology "Comfort is better than pride" of Vietnamese customers, so it hit that mentality That also shows Honda has researched very carefully before entering in this market Honda always tries its best to bring the highest quality products as well as longevity Besides, there is a huge demand for motorbikes in Vietnam Just like natural needs such as food, clothing and shelter, means of transport are also indispensable for Vietnamese people in today's life Nowadays, motorbikes in Vietnam are a popular means of transport and also the main means of transportation of the people A family has - motorbikes in the house In addition, for the average income of Vietnamese people today, motorbike is the most suitable choice – it has a relatively affordable price in line with the average salary of Vietnamese people In recent years, the motorcycle market has become more and more diverse in terms of models, the demand for changing has also increased significantly, but people still want reasonable prices and durability Honda recognizes these trends and has also upgraded as well as producing new models 2.2 Product variety As everyone knows, each Honda’s motorbike has different characteristics to suit all customer requirements A typical example is the Wave motorbike – a long-term motorbike in Vietnam For customers who prefer simple, unfussy designs, they choose Wave Alpha In contrast, Wave S has a more powerful design and fuel-efficient, etc Therefore, creating for users to have many choices in the same product line In addition, Honda's product lines are also aimed at people with an average income, completely suitable for every Vietnamese people Honda has motorcycles with an average price from - 20 million VND, targeting low-income people who need a means of transportation or for a living (Wave, Future, etc.) The next segment is people with stable and fairly high incomes, or young people looking for their own style and showing personality This segment includes both manual transmission and auto transmission motorcycle with prices ranging from 20 50 million VND (AirBlade, Lead, etc.) Besides, Honda also targets the high-end segment with luxurious, classy cars that also partly show their social status These cars often cost over 50 million VND, for example: SH, Vario, PCX, etc 2.3 Massive communication and promotions It is undeniable that Honda is a motorcycle brand that is very invested in advertising from television advertising to outside advertising It is not difficult to come across advertisements for Honda's new models on the road, or simply propaganda about traffic safety Moreover, Honda's strength is advertising on television with images taken care of by Honda, hitting the psychology of young Vietnamese people In addition to aggressive advertising, promotions are also Honda's strong point This is also Honda's most successful promotional campaign Honda always offers preferential prices when buying a car such as a free helmet, support for registration fees, and periodic maintenance at Honda centers without paying This strategy is very satisfied with customers and it generates positive feedback from the public 2.4 “I love Vietnam” and sympathy from customers “I love Vietnam” is the slogan of Honda Vietnam Honda's motorbikes have been with Vietnamese people from the 70s to today's modern models Not stopping there, Honda cooperated with a Vietnamese television station to launch a series of programs "I love Vietnam" with the aim of increasing traffic safety awareness in Vietnam This program is widely spread on television and also on the Internet with great coverage nationwide Honda wishes to be able to create sympathy with customers, increase reliability and "pin" in the subconscious about a clean brand, increasing the level of brand recognition In short, Honda's marketing strategy focuses on many types of motorbikes to help Vietnamese customers have many choices The early products are Honda Cub 50, Cub 70, Super Cub motorcycles, etc., have really conquered the trust of Vietnamese people with the quality and convenience of those products Vietnamese customers know about motorbikes that are brought by Honda Corporation, even people call motorbikes is Honda Honda motorcycles always give Vietnamese customers a sense of security, confidence in the quality and durability of the vehicle Honda has completely conquered customers since participating in the research and market segmentation process, so that today Honda has captured a market share of more than 60% in Vietnam 3- International marketing macroenvironment PESTLE is a system or device used by advertisers to analyze natural external factors affecting a company Its results are used to recognize the dangers and shortcomings of using SWOT analysis 3.1 Political Today, the problem of traffic congestion at rush hour is always a painful problem in society This problem is caused by many reasons, one of which is the excessive use of personal motorbikes and the low culture of motorbike riding The government aims at policies ranging from restricting to banning the use of motorbikes This policy has created great difficulties for the motorcycle industry in general and Honda company in particular The Government and ministries in the fight against the COVID-19 pandemic understand the difficulty of businesses in this situation Therefore, the government has issued timely support policies The issuance of Decree 41/2020 / ND-CP on the extension and postponement of tax payment, land rent, production and business support and disbursement of public investment capital In the coming time, the Government and ministries and branches will have similar and timely policies to be able to support businesses in difficult times (HondaVietNam, 2020) The timely support of the Government has helped Honda company somewhat reduce the burden when business is difficult during the Covid-19 3.2 Economic Vietnam's economy continues to face many challenges in the context of the unusual development of the Covid-19 epidemic Our country's economy is affected by many factors such as financial risks, the decline and shrinking of household and business income while increasing unemployment pressure, climate change, etc (Nguyen, 2021) Honda's Vietnam market capacity in 2020 will reach more than 3.2 million vehicles, down about 3.1% compared to the previous period In which, the company's sales reached nearly 2.6 million vehicles, up 0.5% compared to 2019 The market share reached 79.7% In 2021, due to the impact of Covid-19, people will lose their jobs, mainly spending on necessary products, so the motorcycle market's output will be affected quite a lot (HondaVietNam, 2020) The market demand for motorcycles has decreased This has a significant impact on the company's annual motorcycle consumption 3.3 Social The vast majority of Vietnamese people, after a period of attachment to the use of motorbikes, form a motorcycle culture Nowadays, wherever they go near or far, they use motorbikes, not like to walk, not like to use alternative means Therefore, the demand for buying and using motorbikes in Vietnam still tends to continue to grow Nowadays, Vietnamese consumers is to prioritize using genuine products with guaranteed quality, and not like using Chinese goods This is a favorable condition to eliminate Chinese Honda manufacturers from the country, and at the same time reduce competitors in this market The increasing situation of air pollution has caused the management agencies to come up with many solutions to control emissions into the environment for both cars and motorbikes Therefore, more and more people are choosing electric cars to replace traditional Honda cars by modern technology and minimizing negative impacts on the environment (Autobikes, 2020) Traditional vehicles have higher operating costs than electric vehicles including fuel and repair costs The future trend of vehicle transformation could create a new era for electric vehicles This will hinder the development of the domestic motorcycle industry However, long distance travel between the two places still requires the use of motorbikes, because electric vehicles need to be charged and cannot go far 3.4 Technological Today's technology is developing more and more advertising products, the function of the product must also change in a more technological way Honda Company has continuously launched models that apply modern technologies such as bluetooth connection with My Honda + application, new generation intelligent engine eSP +, torque control system, the Honda SMART Key smart lock system has helped to perfect the products At the same time, satisfy the increasing demand of customers to experience new products integrated with technology (HondaVietnam, 2020) Honda Company is one of the pioneer manufacturers in technological innovation, applying modern technologies to its products As social networking and e-commerce channels develop day by day, it is easier to advertise products to consumers via Facebook, Tiktok, Youtube, etc In November 2019 Honda officially kicked off the series of event "Ho Chi Minh City Balloon - Honda Always for You" in big cities such as Ho Chi Minh City, Can Tho, Da Nang and Hanoi With the participation of many famous singers, it has attracted a lot of young customers to participate and experience, both advertise products and gain trust from customers Young people are a big potential Honda customer Honda has adopted technology to bring its product information to customers in the fastest and most effective way 3.5 Environmental During the time of social distancing to combat the COVID-19 pandemic, pollution indicators have dropped significantly This proves that car exhaust is a source of environmental pollution In the near future, the Department of Transport of Ho Chi Minh City will make a proposal to the City People's Committee on a roadmap to control motorcycle emissions in the near future (Dung, 2020) Understanding the problem, Honda has integrated for its products technology to limit CO2 emissions, both saving raw materials and meeting the needs of environmental protection for customers (TH), a local production base for motorcycles and general-purpose engines, was established in April 1965 (SEBASTIAN, 2001) SWOT Ananlysis 5.1 Strengths Honda is one of the famous brands in the world and is trusted by consumers for the durable quality of its products This is reflected in the company's sales at distribution agents in the market Strong brand is a great competitive advantage of Honda The product distribution system is thick and spread all over the country It has a system of modern technical facilities and a team of highly qualified professional staff  High commitment to its management policy The company has always adhered to the mission of "Honda upholds the global stance of providing the highest quality products at a reasonable price to create satisfaction for customers around the world" This philosophy ensures that everyone in the company is always aiming for and following through The company values respect, equality, trust, initiative and creativity The company continuously strives to improve the quality of its products, services, processes and operations The company has been one of the most famous companies producing high quality vehicles  Product design Regarding product models, Honda always updates beautiful models, luxurious designs, with advanced technology, safety and high quality In 2020, among popular models, there are completely outstanding car versions: Honda WINNER X, SH125i/150i, Air Blade 150cc/125cc These models have integrated a number of new functions such as function of connecting to smartphones via bluetooth, new generation smart engines, Smart Key locking system, ABS anti-lock braking system, system Torque control system  Promote the implementation of social programs 12 In addition, Honda company also promotes the implementation of social programs such as: Joining hands with the Government to repel Covid-19, activities for the environment, a series of Honda always with you,etc Due to the general impact of the COVID-19 pandemic, although sales have decreased, they still maintain market share 5.2 Weaknesses Due to the company's reputation, the situation of product flickering and duplication of designs still occurs because there are still some shortcomings in regulations on intellectual property rights Quality products combined with many innovative features in technology, so the price of the product is higher than other models on this general market This makes it more difficult for the customer to own the product The recent pandemic has reduced demand for non-essential items The company's sales revenue reached more than 3.2 million vehicles, down about 3.1% compared to the previous period Opening the market to attract foreign investment, leading to the birth of cheap Chinese cars This significantly affects the development of Honda's market share 5.3 Opportunities Honda is a famous brand that always puts product quality first, and is trusted and greatly interested by Vietnamese consumers Besides, Honda also produces products according to different market segments, always meeting all the needs of users The demand for using motorbikes of Vietnamese people still has a very high potential for development With the culture of using motorbikes, compared to other types of personal vehicles, motorbikes are always the first priority choice of Vietnamese users Sales thinking and customer care are still low, because too many distribution agents lead to inadequate control over how to take care of customers Environmental issues have always been of great concern to society, so Honda has produced environmentally friendly vehicles that limit emissions and save raw materials The quick grasp of market demand, helped Honda get a lot of attention With Honda's ongoing efforts in robotics research and 13 development, the company is able to create new innovative products that can help improve the lives of people around the world 5.4 Threats The business has been hacked on June 8, 2020, the company's system was hacked This brought the company's operations to a standstill The popularity of electric vehicle products has increased with low cost, saving money and protecting the environment Product competition in the market is strong with big reputable brands Therefore, consumers tend to compare products between brands in terms of price, quality, and service International Strategic Planning of STP 6.1 Segmentation Currently, in the motorcycle market, Honda is classified according to the following segment criteria:  By geographical area: Honda motorcycles are distributed most of the country Honda motorbikes are present in both rural and urban areas, with few and dense populations because this is a line of motorcycles with reasonable prices, regardless of any region  By demographic factor - sociology: Honda's motorbikes are suitable for all ages (18 years old and above, eligible to use motorbikes) from old to young, all occupations (doctors, teachers, workers, etc.) Honda has many different types of motorbikes as well as different prices, suitable for the average economy of Vietnamese people (prices only from 15 million VND)  By psychological characteristics: 14 Honda motorcycles are diverse in products with new models that are always updated Expressing strong personality, youthful, free, liberal, etc of the users Those products are also rated as durable and fuel-efficient With a Honda motorbike in your hand, you can express yourself as a dynamic person Some popular motorcycle models such as AirBlade, Vision, SH Mode, etc  By consumer behavior: Customers buy motorbikes mainly for the purpose of travel convenience Moreover, people buy Honda’s motorbikes because they want to find the benefit from this product in terms of quality, we cannot deny the quality of Honda’s motorbikes Reality has proven, Vietnamese people have trusted and used Honda’s motorbikes since the 70s, even they call motorbikes in general Honda Honda’s motorcycles are very diverse in models, reasonable prices, always updated with compact and convenient designs Honda always innovates to satisfy customers All customers affirm that, when using Honda’s motorbike for the first time, they will certainly continue to support and use it for the next time In short, Honda's motorbikes are suitable for all ages, occupations, and diverse designs (powerful, youthful, personality, etc.) In addition, the motorcycles have a compact design, diverse colors, good warranties and impressive advertising In particular, the price is reasonable, suitable for the average income of Vietnamese people without being outdated, saving fuel, durable materials and machinery 6.2 Targeting According to the results of some statistics, the entire Vietnamese motorcycle market consumed 2.9 million vehicles, of which Honda's sales accounted for 2.03 million units Survey data by GlobalWebIndex also shows that motorbikes are still the most popular means of transport in Vietnam Among the five major motorcycle manufacturers (Honda, Yamaha, Suzuki, Piaggio and SYM), Honda is still the dominant brand in the Vietnamese 15 market with more than 70% market share In most segments, the company's models dominate in sales In fact, out of the best-selling automatic transmission motorcycles in the market, there are products manufactured by Honda Similarly, 3/5 of the most popular manual transmission motorcycles are also representatives of Honda 6.3 Positioning Honda is particularly interested in building a traditional image of Vietnamese people and other social activities with the slogan "I love Vietnam" Positioning based on product attributes Honda motorcycles have long been considered by consumers to have outstanding durability, smooth operation and fuel economy To achieve this, Honda has cleverly applied a differentiated marketing strategy to consumers about the unique characteristics of motorcycle models in each of their segments  The first segment (common) This segment is for customers with low-middle income but need a means of transportation or to make a living They often live and work in rural areas or are just starting to work Honda is constantly researching and launching motorbikes with new models and features, especially suitable for Vietnamese consumers This segment’s motorcycles not focus too much on design and appearance The product focuses on stable operation and convenience for moving and transporting Some motorbikes such as Wave, Blade, Honda builds a sporty and dynamic image aimed at young people or newcomers, and are also suitable for workers with low incomes The motorbikes of this segment are usually manual transmission motorcycle models priced from 15 million to 20 million VND  The second segment (middle) In this segment began to have the presence of automatic transmission motorcycle This segment is people with quite good income Motorcycles are more durable and usable In this segment, the motorbike is not only a means of transportation, but also a 16 fashionable possession of young people, expressing the personality and elegance of customers These motorbike lines have more eye-catching appearance and advanced features than motorbikes in the common segment, and are mainly automatic transmission motorcycles Automatic transmission motorcycle models in this segment such as AirBlade, Vision and Lead often have a neutral design suitable for both men and women The ability to operate smoothly, towards many utilities such as anti-shutdown kickstand, combined braking system, Idling Stop mode, etc., while this is not focused on by other motorcycle manufacturers Besides, Honda also invites influencers to advertise these motorcycle lines helping young people know more The price of motorbikes ranges from 20 million to 50 million VND  The third segment (high-end) This is considered a playground where Honda dominates with motorcycle models such as SH Mode, PCX and SH This segment is for high-income customers, merchants, many times higher than a personal vehicle Products in this segment possess the most advanced features that other segments not have The appearance of motorcycles is put on top, the products are luxurious and elegant, showing the personality and social status of the owner Vehicle conveniences are also enhanced with more advanced technologies such as convenient phone charging cables and smart keys Particularly, Honda SH has long become a symbol of luxury in the eyes of Vietnamese people, although it does not need too many advertising campaigns The price of this motorbike is over 50 million VND Honda's strategy to penetrate the Vietnamese market 7.1 Low-cost strategy Honda's goal is to gain a competitive advantage by developing products at the lowest possible cost As a result of using a multinational strategy for the motorcycle product Honda has focused on developing its manufacturing plant in Vietnam in order to capitalize on Vietnam's location economies Furthermore, Honda focuses on the strategy 17 of developing a variety of product lines aimed at various target customers, ranging from low-priced cars to high-end segment cars Honda offers Wave Alpha motorcycles starting at 13,000,000 VND, with a durable quality and a compact design that is suitable for the needs of rural consumers with low income This low-cost competitive strategy has enabled Honda to capture the rural market, which accounts for 70% of Vietnam's population Honda Vietnam has had success with low-cost but high-quality vehicles such as the Wave Consumers have expressed a high level of satisfaction with these vehicles Honda faced stiff competition from low-cost Chinese motorcycles in the early stages of its business in Vietnam, but through a low-cost strategy, Honda launched Wave, a product assembled in Vietnam With the same price as Chinese motorcycles but higher quality, Honda was able to reclaim market share and grow stronger in Vietnam ("Chiến Lược Kinh Doanh Của Công Ty Honda Việt Nam", 2019) 7.2 Differentiation strategy Honda products are well-known for their dependability, beauty, powerful engines, and fuel efficiency Honda always innovates designs and techniques to suit consumers with any product line In addition, Honda introduced a high-quality product line into the Vietnamese market, including SH motorcycles and, most recently, CPX This is a highend product line with many unique and outstanding features aimed at high-income customers, young people who prefer trendy and classy items Honda provides a compelling differentiation criterion for customers to purchase products that is "fuel economy." With the introduction of FI technology and electronic fuel injection, Honda Vietnam has captured the attention of customers at a time when gasoline prices are steadily rising, contributing to a rapid increase in market share Furthermore, the company provides a strategy aimed at young people, who account for a large proportion of the total population Honda uses the very youthful slogan "Be U with Honda" in conjunction with a loud advertising strategy popular in the press, resulting in a new youthful image for Honda, which was previously thought to be a product for the previous generation Honda products are constantly improving in terms of eye-catching designs and colors in order to 18 keep up with the dynamism of young people ("Chiến Lược Sản Phẩm Của Công Ty Honda Việt Nam", 2021) • Recommending international marketing strategy solution Product purchasing decisions in Honda's international market are complicated due to varying needs and environments Therefore, there must be marketing strategies adapted to specific countries The first step is to develop international advertising strategies, identify and select the best media to deliver the message, and select or operate an advertising agency capable of ensuring Responsible for international advertising The second is the most effective method of reaching out to the target customer groups, which includes direct marketing Direct marketing is a versatile, targeted, and highly effective method of promoting foreign customers This method of marketing is aimed at a specific market, and the advertising budget is allocated to that market Third, international promotion is a type of sales promotion that, when used correctly, can be a very effective tool for international marketing They can be used to encourage purchases, reward customer loyalty, moderate seasonal demand, increase repurchase frequency, and draw attention to a customer's business in general Marketing strategy concepts (Adaptation / Standardization, Adapted standardization) A thorough marketing strategy covers "the four Ps" of marketing: product, price, place, and promotion  The Product: Standardization Brand: Standardization Quality: Standardization product design: Standardization  The Price: Adaptation  The Place: Adapted standardization 19  The Promotion: Adaptation => Honda's marketing strategy is adaptation The International Marketing Objectives Honda uses a strategy of adapting products to each individual market and has been very successful with the countries that Honda has penetrated, especially Vietnam Previously, Honda's policy was to use a single technical standard for the worldwide market, but now has been replaced by a policy of product localization That is true to the definition of international marketing “Think Global, Act Local” Just a few years ago, Honda was hailed as a manufacturer of the best motorcycles in the world and as such has always won a permanent position in the hearts of customers Vehicles sell in any region will be designed to suit only that region Honda has been present and successful in more than 30 countries with its international marketing objectives, typically countries such as Canada, the United States, and Vietnam With a developing country like Vietnam, a traffic system as well as a habit of traveling mainly by motorbike, Honda is the most successful Japanese company here producing both motorbikes and cars The name Honda has gone deep into the minds of consumers as a brand that provides a diverse and durable means of transport that can be used for many purposes by Vietnamese people Besides, the cost of marketing Honda's motorcycles is also insignificant because people have been used to this prestigious brand for a long time Honda's objectives in the coming years are to continue to launch motorcycles that are not only durable but also fashionable, constantly changing designs, creating more new hot colors for motorcycles, creating a unique personality for each motorcycle design While other motorcycle brands focus on stylish design or quality for their vehicles, Honda has always been a pioneer in creating the best gadgets to serve its customers Some examples include always being at the forefront of saving fuel, not being able to start the engine without pushing the kickstand, automatically turning off the engine when stopping for seconds, or locating a motorbike It is clear that these utilities bring safety to users, friendly to the environment, and the result of those marketing goals is consumer acceptance 20 With the local vision of a multinational company, grasping the market and understanding the needs of customers in different countries is the key to Honda's success today The objectives of continuously improving products to grasp the times, promptly respond to the changing needs of customers in each period; constantly researching, launching new inventions that are more convenient than the old one, etc are the right objectives to create maximum profit for Honda 10 Recommending international marketing strategy solution Product purchasing decisions in Honda's international market are complicated due to varying needs and environments Therefore, there must be marketing strategies adapted to specific countries The first step is to develop international advertising strategies, identify and select the best media to deliver the message, and select or operate an advertising agency capable of ensuring Responsible for international advertising The second is the most effective method of reaching out to the target customer groups, which includes direct marketing Direct marketing is a versatile, targeted, and highly effective method of promoting foreign customers This method of marketing is aimed at a specific market, and the advertising budget is allocated to that market Third, international promotion is a type of sales promotion that, when used correctly, can be a very effective tool for international marketing They can be used to encourage purchases, reward customer loyalty, moderate seasonal demand, increase repurchase frequency, and draw attention to a customer's business in general 11- Action plan & others Honda's operation plan in Vietnam from 2021-2023:  Marketing activity plan Continue to promote advertising activities through communication channels The organization has social activities to enhance the development of the brand name  New product development 21 With the current trend of environmental protection, the design of electric vehicles will attract more people interested in the brand More specifically, the electric vehicle market currently does not have much strong competition Therefore, this business segment has great potential for strong growth in the future The target that 100% of Honda motorcycle products sold in 2040 will be electric vehicles, Honda will also launch completely new electric motorcycle models between now and 2024  Employee training program Design a comprehensive training program, classified by level Training to improve sales skills, customer service attitude  Social activities: - Continue to implement the vision to 2030 to be at the forefront of efforts to understand a "car crash-free" general public, effectively expanding the scope of maneuvers preparation and bringing the issues back to life traffic security - Continue to support the Vietnamese public football team with the desire to join hands to contribute to perfecting a more and more perfect public football, ready to face new difficulties - Continuing to carry out educational support activities such as: organizing Children's Ideas Playground, awarding Honda YES Awards for Young Engineers and Scientists, sponsoring scholarships, supporting library equipment institute 12 Wrap up Our team this research paper for the purpose of analyzing the upcoming international marketing strategy of Honda company, specifically from 2021 - 2023 We have pointed out the international marketing macroenvironment and microenvironment, SWOT analysis and STP by Honda In addition, we also present Honda's current international marketing strategies as well as their success when applied specifically to Vietnam Their 22 goal in the coming years is to continue launching ads, mainly targeting young people with dynamic style and personality Young people are always potential customers of Honda as well as a new inspiration for Honda to develop more and more Honda always tries to take care of advertising images as well as their motorcycles All of these are the keys to the success of Honda today Nowadays, investing in image quality to market to the international market is essential for companies, the opportunity to expand the market in many countries is very high Honda's future goal is to constantly research, produce products that are suitable for the needs of each country and respond to customer changes 23 Subject: International Marketing REFERENCES Autobikes (2020, October 22) Bùng nổ xu hướng xe điện tương 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plan. .. Singapore and Malaysia, actively preparing for entry into the expanding Southeast Asian market In October 1964, Honda established Asian Honda, a company for the sale of motorcycles and power