TABLE OF CONTENTS TABLE OF CONTENTS i INTRODUCTION 1 DISCUSSION 2 II S 2 2 1 Theoretical basis of the Marketing function 2 2 1 1 Definition of Marketing 2 2 1 2 Marketing’s key roles 3 2 1 3 Marketing. TABLE OF CONTENTS TABLE OF CONTENTS i INTRODUCTION 1 DISCUSSION 2 II. S 2 2.1. Theoretical basis of the Marketing function 2 2.1.1. Definition of Marketing 2 2.1.2. Marketing’s key roles 3 2.1.3. Marketing’s responsibility 3 2.1.4. 5 Steps of Marketing Process 6 2.2. The roles and responsibilities of Vinfasts marketing activities in the marketing environment 8 2.2.1. Vietnamese automotive environment 8 2.2.2. Roles and responsibilities of Vinfast’s marketing 10 III. S 13 3.1. Vinfasts Marketing Mix Strategy comparing to Toyota 13 3.2. Keys to Vinfasts success and Vinfast’s obstacles 16 3.2.1. Key to Vinfast’s success 16 3.2.2. Vinfast’s Obstacles 18 3.3. Strategies and tactical approaches to Vinfast objectives 18 REFERENCE 20 INTRODUCTION VinFast is an LLC private automotive startup headquartered in Vietnam, which opened in 2017, a member of the conglomerate organization Vingroup founded by Pham Nhat Vuong (Lucas Raheriarivony, 2018). It is the first Vietnamese car brand to develop into global markets and the first Vietnamese car brand to produce EVs and electric cars and electric scooters. VinFast announced their first two designs, the LUX A2.0 and the LUX SA2.0, at the 2018 Paris Motor Show. Both models are based on previousgeneration BMW products with various changes and enhancements, including the extensive redesign of the chassis to meet future global safety standards. Both will come in rearwheel drive and allwheel drive, and both will be powered by the BMW N20 turbocharged petrol engine in 174.9 bhp and 227 bhp options. Complete reliability and safety testings have been completed. Production of both models started in 2019. (Hilton Holloway, 2018) DISCUSSION II. S 2.1. Theoretical basis of the Marketing function 2.1.1. Definition of Marketing Philip Kotler, the eminent writer, defines modern marketing: Marketing is a social and managerial process by which individuals and groups obtain what they need and want by creating and exchanging value and product with others. A careful and thorough analysis of this definition reveals some core marketing concepts, as shown in Figure 1. The existence of unmet needs is a precondition to undertake marketing activities. Marketing tries to satisfy the needs of consumers. Human needs are the state of felt deprivation of some immediate satisfaction. A need is the state of mind that reflects the lackness and restless situation. Figure 1: 8 Core Marketing Concepts 2.1.2. Marketing’s key roles Depending on the company, the duties of the Marketing Department may include one or more of the following (McCarthy, Jerome E, 1964): Identifying target markets Understanding the economic and competitive features of a sector Identifying segments within a target market Commissioning, understanding, and acting upon market research Identifying most appropriate strategies Understanding competitors and their design and likely responses Auditing customers’ brand experience Developing new products Establishing environmental scanning for opportunities and threats Creating a sustainable competitive advantage Understanding an organizations strengths and weaknesses Understanding where a brand needs to be in the future Establishing management information systems to identify progress Creating and delivering marketing plans to get there 2.1.3. Marketing’s responsibility The ten responsibilities of marketing departments (American Marketing Association2017): Listening to customer needs To establish a marketing strategy, getting closer to the clients and listening to their needs is required. It is a marketing department task to plan the needed means for receiving customer feedback from internal and outside channels. Track trends and monitor competition Similar to the previous point, it is essential to know its position regarding the market and the competition. The company must watch the match from marketing to learn what they do best or identify their mistakes to avoid falling into them. Work and brand values Conceptually, a brand represents the feelings that the services, products, and company shares show. The marketing department creates and disseminates images, ideas, and messages that best communicate the brands values. Searching for new (and helpful) marketing tools Being updated in all that concerns the marketing field is a must. That is why as marketers, people should be conscious of the new trends, strategies, and digital tools that arise over time. Nowadays, there are three different types of marketing tools that must have a presence in every marketing department: • Product Management tools • Marketing automation tools • Product Information Management tools Coordinate efforts with marketing partners There are lots of contributors around the businesss marketing: publishers, designers, consultants, journalists... The works of these contributors must be aligned with the companys objectives, and it is the department itself that should control it to do so. Innovate Customers need to be surprised, and every day, give them a higher offer. Marketing departments should work on new promotions, affiliate programs, improvements in converting their messages and actions, customer retention techniques… Communicate with the rest of the company members A company is a chain of members pursuing a common goal: to fulfill its mission and maximize its profits while respecting business ethics laws. A chain is as weak as its most vulnerable link. It does not matter that the commercial or production department is doing an impeccable job. If the marketing fails, the entire company will fail, and other departments efforts will be in vain. That is the reason why the marketing department must ensure that their actions align with the companys overall objectives and report their work. Help improve sales processes and customers. As mentioned above, the marketing departments responsibility is to know the users, especially the customers feelings. A good way for better knowing the consumer is that all departments that have more direct contact with the customers shall be working with the empathy maps. Manage marketing budgets Calculate the ROI (Return Of Investment) of the company’s actions Like any other group, the marketing department should plan its budget for the following years activities, stretching it to make the most of it and ensure a positive ROI. Marketing activities are an investment of money, time, and effort. Moreover, like every investment, it requires measuring actions to check whether they meet the intended objectives and compare a specific action with others. The most costeffective strategies are planned for the long term. To do so, the company must draft a document setting out the objectives to be achieved in the following months, the actions to be undertaken; the companys strengths; the target markets, the competition... In addition, these strategic plans must also be adjusted both with the companys strategic plan and with other departments goals. 2.1.4. 5 Steps of Marketing Process
TABLE OF CONTENTS TABLE OF CONTENTS .i INTRODUCTION DISCUSSION II S 2.1 Theoretical basis of the Marketing function 2.1.1 Definition of Marketing 2.1.2 Marketing’s key roles 2.1.3 Marketing’s responsibility 2.1.4 Steps of Marketing Process 2.2 The roles and responsibilities of Vinfast's marketing activities in the marketing environment 2.2.1 Vietnamese automotive environment 2.2.2 Roles and responsibilities of Vinfast’s marketing 10 III S 13 3.1 Vinfast's Marketing Mix Strategy comparing to Toyota 13 3.2 Keys to Vinfast's success and Vinfast’s obstacles .16 3.2.1 Key to Vinfast’s success 16 3.2.2 Vinfast’s Obstacles 18 3.3 Strategies and tactical approaches to Vinfast' objectives 18 REFERENCE 20 i INTRODUCTION VinFast is an LLC private automotive startup headquartered in Vietnam, which opened in 2017, a member of the conglomerate organization Vingroup founded by Pham Nhat Vuong (Lucas Raheriarivony, 2018) It is the first Vietnamese car brand to develop into global markets and the first Vietnamese car brand to produce EVs and electric cars and electric scooters VinFast announced their first two designs, the LUX A2.0 and the LUX SA2.0, at the 2018 Paris Motor Show Both models are based on previousgeneration BMW products with various changes and enhancements, including the extensive redesign of the chassis to meet future global safety standards Both will come in rear-wheel drive and all-wheel drive, and both will be powered by the BMW N20 turbocharged petrol engine in 174.9 bhp and 227 bhp options Complete reliability and safety testings have been completed Production of both models started in 2019 (Hilton Holloway, 2018) DISCUSSION II S 2.1 Theoretical basis of the Marketing function 2.1.1 Definition of Marketing Philip Kotler, the eminent writer, defines modern marketing: "Marketing is a social and managerial process by which individuals and groups obtain what they need and want by creating and exchanging value and product with others." A careful and thorough analysis of this definition reveals some core marketing concepts, as shown in Figure The existence of unmet needs is a precondition to undertake marketing activities Marketing tries to satisfy the needs of consumers Human needs are the state of felt deprivation of some immediate satisfaction A need is the state of mind that reflects the lack-ness and restless situation Figure 1: Core Marketing Concepts 2.1.2 Marketing’s key roles Depending on the company, the duties of the Marketing Department may include one or more of the following (McCarthy, Jerome E, 1964): Identifying target markets Understanding the economic and competitive features of a sector Identifying segments within a target market Commissioning, understanding, and acting upon market research Identifying most appropriate strategies Understanding competitors and their design and likely responses Auditing customers’ brand experience Developing new products Establishing environmental scanning for opportunities and threats Creating a sustainable competitive advantage Understanding an organization's strengths and weaknesses Understanding where a brand needs to be in the future Establishing management information systems to identify progress Creating and delivering marketing plans to get there 2.1.3 Marketing’s responsibility The ten responsibilities of marketing departments (American Marketing Association2017): Listening to customer needs To establish a marketing strategy, getting closer to the clients and listening to their needs is required It is a marketing department task to plan the needed means for receiving customer feedback from internal and outside channels Track trends and monitor competition Similar to the previous point, it is essential to know its position regarding the market and the competition The company must watch the match from marketing to learn what they best or identify their mistakes to avoid falling into them Work and brand values Conceptually, a brand represents the feelings that the services, products, and company shares show The marketing department creates and disseminates images, ideas, and messages that best communicate the brand's values Searching for new (and helpful) marketing' tools Being updated in all that concerns the marketing field is a must That is why as marketers, people should be conscious of the new trends, strategies, and digital tools that arise over time Nowadays, there are three different types of marketing tools that must have a presence in every marketing department: Product Management tools Marketing automation tools Product Information Management tools Coordinate efforts with marketing partners There are lots of contributors around the business's marketing: publishers, designers, consultants, journalists The works of these contributors must be aligned with the company's objectives, and it is the department itself that should control it to so Innovate Customers need to be surprised, and every day, give them a higher offer Marketing departments should work on new promotions, affiliate programs, improvements in converting their messages and actions, customer retention techniques… Communicate with the rest of the company members A company is a chain of members pursuing a common goal: to fulfill its mission and maximize its profits while respecting business ethics laws A chain is as weak as its most vulnerable link It does not matter that the commercial or production department is doing an impeccable job If the marketing fails, the entire company will fail, and other departments' efforts will be in vain That is the reason why the marketing department must ensure that their actions align with the company's overall objectives and report their work Help improve sales processes and customers As mentioned above, the marketing department's responsibility is to know the users, especially the customers' feelings A good way for better knowing the consumer is that all departments that have more direct contact with the customers shall be working with the empathy maps Manage marketing budgets & Calculate the ROI (Return Of Investment) of the company’s actions Like any other group, the marketing department should plan its budget for the following year's activities, stretching it to make the most of it and ensure a positive ROI Marketing activities are an investment of money, time, and effort Moreover, like every investment, it requires measuring actions to check whether they meet the intended objectives and compare a specific action with others The most cost-effective strategies are planned for the long term To so, the company must draft a document setting out the objectives to be achieved in the following months, the actions to be undertaken; the company's strengths; the target markets, the competition In addition, these strategic plans must also be adjusted both with the company's strategic plan and with other departments' goals 2.1.4 Steps of Marketing Process Step 1: Understanding Customer Needs and The Marketplace Understanding customer needs, wants, and demands are critical to creating want-satisfying market offerings and building value-laden customer relationships This boosts the company's long-term customer equity Step 2: Designing A Customer-Driven Marketing Strategy Selecting customers to serve: The company decides whom it will help and divides the market into customer segments Following that, it focuses on specific parts of the market or its target market The business determines how it will serve its customers That is how it will set itself apart and gain market share The set of values and benefits that a brand promises to deliver to its customers is known as its value proposition Choosing a value proposition: The company decide how it will assist their customer That is how it will discriminate and position itself in the market place A brand's value proposition is the set of benefits and values that it promises to deliver its customers Companies need to create substantial value propositions to give them the most notable advantage in their target markets Step 3: Constructing an marketing plan that delivers superior value The marketer then creates integrated marketing plans that will provide the intended value to the target audience It comprises the company's marketing mix (4Ps), a set of marketing tools used to carry out its marketing strategy By putting the marketing strategy into action, the marketing program develops customer relationships It must combine these marketing tools into a comprehensive, integrated marketing program that communicates and delivers the expected value to customers Step 4: Build Profitable Relationships Customer relationship management (CRM) establishes and maintains profitable customer relationships by providing superior value and satisfaction Customer relationship management aims to increase customer equity or the sum of all customers' lifetime values The creation of superior customer satisfaction and value is the key to establishing long-term relationships Companies today want to acquire beneficial relationships and build relationships that will increase their share of customer purchases in their product categories Step 5: Capturing Value From Customers The ultimate goal of customer relationship management is to increase customer equity, which is the total combined long-term value of all current and potential customers The higher the customer equity, the more loyal the company's profitable customers are Customer equity may be a better indicator of success than market share or current sales Marketers are unable to create customer value or establish customer relationships on their own They must collaborate closely with other company departments as well as external partners 2.2 The roles and responsibilities of Vinfast’s marketing activities in the marketing environment 2.2.1 Vietnamese automotive environment About Vietnamese automotive industry Vietnam's automotive industry is proliferating and has been doing so continuously during recent years On average, the growth of the automobile market has been 20-30 percent annually, beating the projected numbers made by Vietnam's Ministry of Industry and Trade Vietnam has a US $900 million trade surplus in car parts, totaling 4.4 billion dolars of car part exports Most of this production is done by foreignowned businesses operating in Vietnam In total, the number of parts suppliers was 227 in 2018 In 2018, the share of locally produced components in the Vietnamese automotive industry was just roughly 10%, compared to 80% in Thailand and Indonesia Due to most advanced components being imported, locally produced vehicles are generally more expensive than foreign-built vehicles (VnExpress, 2018) Table 1: Top-selling brands 2016-2020 Year Sales Sales (passenger cars only) Top-selling brands Toyota (57,036) 2016 271,833 159,500 Thaco Truck (43,787) Thaco Kia (33,014) Toyota (59,355) 2017 250,619 146,994 Thaco Truck (38,023) Ford (28,588) Toyota (79,328) 2018 276,817 229,706 Honda (33,102) Thaco Mazda (32,731) Toyota (65,856) 2019 306,073 192,084 Thaco Mazda (32,728) Thaco Kia (28,986) Toyota (70,692) 2020 283,983 215,908 Thaco Kia (39,180) Thaco Mazda (32,224) < Sorce: VAMA,2021> About Vinfast As a member of Vingroup, one of Vietnam's largest private companies, VinFast collaborates with car manufacturers from America, Siemens, and Europe to build their automotive factory VinFast broke ground in September 2017 on an 826-acre (3,350,000 m2) facility in an industrial region located on Cat Hai Island near Hai Phong The factory with paint, press, assembly, and engine shops was built in just 21 months(VnExpress, 2018) The investment is US$1.5 billion in the first period of a program to make cars and electric motorbikes at a greenfield factory on the facilities It claimed that it has aggregated talent from multiple established companies and is a European sourcing design, engineering, and production technology partner The first two vehicles shown at Paris Motorshow in the fall of 2018 are the LUX SA2.0 and LUX A2.0, designed by Pininfarina Producing vehicles in a greenfield automotive factory in less than two years is fantastic However, VinFast wanted to compete in Vietnam and globally right from the beginning, so the company relied on Siemens' expertise to employ the latest technology This resulted in a closed-loop manufacturing system that uses digital twins of the products, the production, and the performance of production and development 2.2.2 Roles and responsibilities of Vinfast’s marketing To develop and manage Vinfast Automotive's brands through the use of all elements of the marketing mix Responsible for the annual marketing preparation and execution of strategies and plans and the management of agreed budgets The leadership of the marketing communications team Development of longer-term Automotive Marketing strategy (B2B, B2G, B2C, Digital), enhancing and utilizing OEM strategy and materials to build brand awareness and consideration across all brands and products Vinfast’s marketing department is responsible for creating and implementing marketing strategies that support business development and drive new business for an auto dealership They leverage content management 10 systems, help develop marketing plans and devise advertising strategies to reach car dealership goals Establish a relationship with the media To ensure that the company's image is presented in the best way to the public, the marketing department of Vinfast always pays attention to building good relationships with the media and the press The media is an effective partner to help businesses build brands and support businesses to handle unexpected crises Manage the work of employees under the management of the Marketing department In addition to performing marketing activities for the whole company, Vinfast’s marketing department is also responsible for managing employees' work in its department • Planning activities, assigning and assigning jobs to department • Have a plan to check and monitor the work performance of staff employees • Review, evaluate, make decisions on rewards, discipline, salary increase, promotion by the company's regulations • Carry out the transfer and transfer of personnel within the department and develop a marketing strategy The relationship between marketing and other departments Although the fundamental goal of Vinfast is to make a profit and the primary task of the marketing system is to ensure the production and supply of attractive, highly competitive products to the target markets However, the success of the marketing strategy and tactics depends on other functions in the company Nevertheless, conversely, if the activities of the different 11 departments are not in proportion with the purposes of marketing activities, have specific strategies to target particular customers - specific markets, those activities will become disconcerted and disoriented To achieve its goals, Vinfast's Marketing Department must know how to coordinate with other functions to create synergy The simple reason is that to implement their strategy, the Marketing managers of Vinfast company have resources such as finance, human resources, technology, and production equipment They know how to coordinate with other companies Other functions within the enterprise to create market-oriented synergies Thus, Marketing has independent functions and must conform with different tasks in the business to achieve the set goals to become one of the top-selling brands locally The marketing function has an organically consistent relationship with other parts It can be said that Marketing is both a new business mindset - a customer-oriented mindset, and at the same time an essential function in the company - the process of connecting the market with the company, ensuring the company's performance, and a customer-oriented mindset In terms of the market economy, it can be said that Marketing is the key to success for Vinfast company 12 III S 3.1 Vinfast's Marketing Mix Strategy comparing to Toyota 3.1.1 Theory basis Product A product is a good or service that a business provides to its customers A product should, in theory, satisfy an existing consumer demand Alternatively, a product may be so compelling that consumers believe they need it, resulting in a new demand Marketers must understand a product's life cycle in order to be successful, and business executives must have a strategy for dealing with products at all stages of their life cycle The type of product also influences how much a company can charge, where it should be placed, and how it should be promoted in the marketplace Price The price of a product is the amount that customers pay for it Marketers must link the price to the product's actual and perceived value, as well as supply costs, seasonal discounts, and competitor prices Business executives may raise the price to give the product the appearance of being a luxury item in some cases Alternatively, they could reduce the price to encourage more people to try the product Place When a company makes location decisions, it's trying to figure out where they should sell a product and how to get it to the market Business executives' ultimate goal is to get their products in front of the customers who are most likely to buy them Promotion Advertising, public relations, and promotional strategy are all examples of promotion The purpose of product promotion is to show customers why they need a product and why they should pay a certain price for it 13 Marketers frequently combine promotion and placement elements in order to reach their target audiences In the digital age, for example, the "place" and "promotion" factors are as important online as they are offline Specifically, the location of a product on a company's website or social media, as well as the types of search functions that trigger corresponding, targeted ads for the product 3.1.2 A comparision between Vinfast and Toyota Vinfast Product As of 2021, Toyota Vinfast has Toyota provides nineteen car deployed car lines including VinFast models: Fadil, VinFast Lux (including VinFast Passenger – comprising of small, LUX SA2.0 SUV and VinFast LUX medium size, and large vehicles A2.0 Sedan), VinFast President, and Yaris, VinFast Premium The cooperation Camry, Tarago, Corolla, Aurion, and Rukus with these SUVs & 4WD– Kluger, Parado, famous brands helps Vinfast have the Rav4, and Landcruiser 200 same quality as other car manufacturers Hybrid – Prius and Camry worldwide and strengthens the image Commercial – HiAce, Landcruiser of high-class Vietnamese cars in users' 70,Coaster, and HiLux hearts Price Vinfast's target customers are Due to their innovative designs those who want high-class quality cars and heavy investments in that are affordable Based on this promotional activities, Toyota has demand, Vinfast has determined a price enticed customers worldwide They strategy higher than Korean-Japanese built high-quality vehicles and automakers but lower than European priced them moderately automakers such as Mercedes or Instead of calculating the selling BMW Specifically, the Fadil car costs price, Toyota calculates the profit 14 414 to 490 million higher than Thus, they go by selling price-cost competitors such as Yaris Toyota, I10 price=profit The company believes Hyundai, Morning Kia When that it is the market mechanisms and LuxSA2.0 cars are 1.5 billion VND - the consumers who determine the 1.8 billion VND, competing with selling price The profit of the products in the same segment such as company has increased over time Honda CR-V, Toyota Fortuner, due to the high quality and low-cost Hyundai Santafe, Kia Sorento vehicles Vinfast's target customers are Toyota unit sold increased those who want high-class quality cars heavily to 2,282,000 units that are affordable Based on this worldwide They offer vehicles of all demand, Vinfast has determined a price price range According to the model, strategy higher than Korean-Japanese Toyota cars start from $18,990 and automakers but lower than European go up to $80,000, add options, and automakers such as Mercedes or make They use low cost and BMW Specifically, the Fadil car costs differentiation to have a competitive 414 to 490 million higher than edge in the automotive industry competitors such as Yaris Toyota, I10 They Hyundai, Morning Kia differentiate their product When based on quality, technology, and LuxSA2.0 cars are 1.5 billion VND - superior design 1.8 billion VND, competing with products in the same segment such as Honda CR-V, Toyota Fortuner, Hyundai Santafe, Kia Sorento Place Vinfast's distribution strategy includes: Toyota prioritizes its customers • Acquiring other distribution and understands the importance of channels making its products accessible to the From March 15, 2019, Vinfast intended audience They sell their officially took over the Chevrolet vehicles through dealerships, and 15 business under GM This means that sales are done one-on-one with Vinfast will use GM's production plant, customers by the sales staff Toyota sales agent, and customer care system focuses on the 'pull' strategy and Instead of monopolizing trade, Vinfast makes cars that the customer built a dealer system of two brands demands Apart from this, Toyota Chevrolet - Vinfast This distribution has a sales representative going from strategy helps Vinfast penetrate the door to door in Japan market more efficiently, saving time A typical Toyota dealership and costs for system building and resembles location selection a western dealership They strive to keep supply chain • Make wide distribution costs low while maintaining a high In addition to the distribution level of service and high-quality channel at Vinfast's primary agent, products Vinfast currently has more than 200 showrooms across the country to help bring products to users Promotion Besides appearing continuously on social newspapers, networks, some forums, typical Toyota uses different and promotional strategies to increase its media sales volume activities of Vinfast can be mentioned themselves as follows: • In the newspapers, first phase of market television, penetration, Vinfast created a media Internet, They advertise through radio, flyers, yellow word of billboards, pages, the mouth, and boom by using KOL "David Beckham" brochures with a catchy slogan to at the Paris Motor Show • Vinfast implements draw attention to their brand bold sales Moreover, they started with a policies such as a 3-zero price policy cash-back offer These offers are on the first day of launch, offering given by the Toyota corporate to the 16 "Registration of VND", 10% discount dealer, and the consumers revive it when paying directly, interest-free for as an instant rebate Such requests the first two years for customers who especially attract non-cash buyers pay in advance." Some of the promotional schemes also allow the customers to use rebates as a down payment Vinfast positions its brand as "The first automobile manufacturer in Vietnam." To strengthen this brand position, Vinfast has hired two famous Italian designers, ItalDesign and Pininfarina Vinfast cooperated with wellknown global automotive engineering and manufacturing companies such as Magna Steyr and Bosch, AVL, ZF, GROB, Thyssenkrupp, AVL, and MAG In addition to building a pricing strategy based on market segments, Vinfast also makes price adjustments to satisfy users The voucher program integrated by Vinfast with the Vinhomes project is called "Elite Class" giving a VinFast car purchase voucher worth up to VND 200 million to all homebuyers Accordingly, customers who buy any Vinhomes product will be given a voucher to buy a VinFast car Vinfast also plans to penetrate the international market On June 11, 2020, Vinfast's first showroom in foreign markets was in Australia with a team of experts from Lord, GM 3.2 Keys to Vinfast's success and Vinfast’s obstacles 3.2.1 Key to Vinfast’s success Vinfast spends much money on media At the Paris Motor Show launch ceremony, VinFast invited former British football player David Beckham, Miss Vietnam 2018 Tran Tieu Vy, model Tran Quang Dai, Vietnam 2017 runner-up Hoang Thuy and many other 17 brands These are all people with significant influence in Vietnam, and they also have particular popularity in the world Therefore, spending millions of dollars to invite special guests of Vinfast significantly influences the media Figure 2: The appearance of superstar David Beckham Communication in the form of information leakage VinFast implements the same trick as Apple is applying with its products, "information leak." Accordingly, this company systematically leaked a series of information to stimulate curiosity, interest, and discussion of public opinion Information about the car is just meager images before the launch The specifications, interior information… are almost not disclosed The information about the car is leaked in batches, creating waves and spreading widely The more it is suspected, the more it goes viral Usually, car manufacturers will bring concept models to display in their target market VinFast does the opposite They aim the Vietnamese market 18 but brought the car to Paris to launch to attract consumers' spread, discussion, and curiosity "National pride" One of Vinfast's marketing strategies is to hit "National pride." A national pride when for the first time, a car branded Vietnam, owned by Vietnamese people, will be produced in Vietnam is launched at an international exhibition like Paris Motor Show 3.2.2 Vinfast’s Obstacles The automotive industry is complex To produce a car with good performance and durability is not an easy task The world's leading car manufacturers today are primarily companies that are over a hundred years old China, though, is famous around the world for almost anything it can make However, among hundreds of large and small auto companies originating in the country of billions of people, no name is considered comparable to the world's hundred-year-old car brands Supporting industry in Vietnam is still in its infancy Brands in the top leading and guiding the whole industry such as Toyota, Mercedes, or BMW have not yet produced an entire car They must also cooperate with other suppliers However, their advantage is that they have built an ecosystem and are surrounded by a series of reputable ancillary companies Despite receiving many tax incentives and cheap labor, Vinfast's first products still have high prices 3.3 Strategies and tactical approaches to Vinfast' objectives Firstly, Vinfast needs to prepare in all aspects like finance, human resources, finding partners The company needs to look for opportunities to 19 ... comprises the company''s marketing mix (4Ps), a set of marketing tools used to carry out its marketing strategy By putting the marketing strategy into action, the marketing program develops customer... responsibilities of Vinfast? ??s marketing To develop and manage Vinfast Automotive''s brands through the use of all elements of the marketing mix Responsible for the annual marketing preparation... comparision between Vinfast and Toyota Vinfast Product As of 2021, Toyota Vinfast has Toyota provides nineteen car deployed car lines including VinFast models: Fadil, VinFast Lux (including VinFast Passenger