(Tiểu luận) topic analyzing vinfasts external communication strategy

THUONG MAI UNIVERSITY Faculty of E-commerce and E-Marketing - - PROJECT REPORT Subject: Internal and External Communication Topic: Analyzing Vinfast's external communication strategy Group: Class ID: 24100CEMG1817E Instructor: Tran Minh Hoang Ha Noi-2023 Table of contents I Introduction .3 Introducing about Vinfast Vinfast's Vision 3 Vinfast’s Mission II Vinfast Group's external communication strategy Communication for client Communication for public III Overall evaluation and learning from experience .11 IV Conclusion 12 I Introduction Introducing about Vinfast In the ever-evolving landscape of the global automotive industry, one name has emerged as a trailblazer, challenging the norms and pushing the boundaries of innovation and sustainability VinFast, a company founded in 2017 as a subsidiary of Vingroup, a leading conglomerate in Vietnam, has rapidly risen to prominence as a symbol of visionary ambition and disruptive thinking within the automotive sector VinFast's journey begins with a resounding commitment to redefine the automotive industry, transcending the conventional boundaries of what an automaker can achieve As the brainchild of Pham Nhat Vuong, one of Vietnam's most influential entrepreneurs and a visionary in his own right, VinFast was born not just to build cars but to catalyze a transformation in the global perception of Vietnamese engineering and manufacturing capabilities Vinfast's Vision Vinfast Chevrolet Newway dealer has been and is the number dealer in Vietnam, the leading dealer in Southeast Asia and always strives to maintain that highest position in the following years Vinfast’s Mission With the mission "For a better life for Vietnamese people", VinFast wishes to build a proud, stylish and classy brand with the spirit of Vietnam, reaching out to the world The group aims to create cars that will represent Vietnam, mark Vietnam's identity on the global vehicle manufacturing industry map and be able to compete in the world market.VinFast brings these features high-end service serving the modern lifestyle of customers, customers are companions, connecting customers with the Vingroup ecosystem, ensuring value and long-term experience for VinFast owners Why did we choose this topic? From a new domestic car company that was not popular domestically because customers were still skeptical, Vinfast has appeared and developed rapidly in the auto industry, from a new brand to a global competitor This development has raised questions about how they have used their communication strategy to achieve success and effectively reach the market This helps them easily interact and communicate with international partners and customers through communication campaigns II Vinfast Group's external communication strategy Although Vinfast is a new brand in the global auto industry, it already has the highest level of anticipation on the domestic market It is clear that Vinfast's communication strategy places it not only in the Vietnamese home market but also on the global stage, where it has far higher aspirations going forward Vinfast's effective communication plan has demonstrated how superb the product quality is  The age range in Vinfast's customer segment is: From 16-20 years old: Vinfast electric motorbikes target customers who are students and people who tend to live green, using electric energy to protect the environment From 30 to 60 years old, most of them are businessmen, have stable jobs, and have a position in society This is the age group that often uses cars for personal activities, work, etc Ages 30 - 45 years old: At this age, most customers are saving money to start a business or don't have too much yet money to buy high-end cars like Lexus, Audi, etc Their purpose of buying a car may just be a convenient means of transportation to serve work needs, not too concerned with form and model code Therefore, Vinfast is a reasonable car in terms of price, color, and quality inside the car Age from 45 - 60 years old: This is the age of successful customers who have their own assets They mostly want to own high-end cars with higher prices and quality, such as Vinfast's Lux SA2.0 product In addition, the factor of car size is also a big concern when they need to use the car as a means of transportation for the whole family to travel Here, Vinfast company chooses the target audience for its products to be people with stable income, good range, status in society, and especially people who are highly patriotic, ethnic, and use high-quality products inland Especially with the label "Made in Vietnam", the price range is not too high, "Vietnamese products but European quality" and special features of the car that can be chosen according to their preferences have struck a chord with these customers That's why the slogan that Vinfast chose is "Strong Vietnamese spirit." With just a simple and short slogan, Vinfast has succeeded in showing off its outstanding features compared to other automobile products Along with that, large-scale product promotion campaigns have helped Vinfast create a fever in the online community  Vinfast's Social Media Strategy for electric motorbike Since the product launch, leaked information about two electric motorbikes has been posted with Vinfast's distinctive V-shaped logo This attracted a lot of attention from domestic public opinion because a motorbike with a very elegant and modern design was introduced from the giant Vingroup This strategy of Vinfast is to see the reaction of public opinion before officially launching its electric car model As expected, the response was very positive and the company gained a great deal of publicity before announcing its product to the media When launching the product, the company focused heavily on Social Media, increasing the amount of Seeding on forums on Facebook, Instagram and some major newspapers such as Channel 14, Zing.vn, Brand Vietnam The company has positioned electric motorbikes Since Vinfast is aimed at the young generation, Social Networks are a more suitable front for external communication Because of this intelligence, the amount of exchange on forums is stronger than ever Most come from people between the ages of 16-25 years old Vehicle websites continuously report news such as AutoPro, Tinhte This has created an explosive media effect because the launch strategy of Vinfast electric motorbikes is invested and has clear direction as usual with the launch of products in the Vingroup ecosystem Fox example: Bread N' Tea (BNT) received the first brief of VinFast E-Scooter in early 2020, right when the COVID-19 epidemic began to spread, preparing to enter social isolation In the initial brief, the brand determined that it wanted to organize a contest on Facebook to select a brand ambassador Realizing that during the epidemic break, the trend of using TikTok among Vietnamese young people increased more than ever, BNT proactively consulted on the TikTok platform to create a new breeze for the brand, and at the same time, it is also very suitable for the group Potential customers are students of VinFast EScooter Admittedly, choosing TikTok for this campaign was a difficult decision for both the agency and the brand On one hand, VinFast's products have great value, while the majority of campaigns appearing on TikTok are fast-moving consumer goods On the other hand, the specific characteristics of car products are also difficult to come up with ideas to both express the true nature of the product, be creative and close to the user However, with the same desire to conquer new platforms, both agencies and brands are still determined to try TikTok After days, ‘ Phiêu với xe chất’ recorded the highest traffic volume among all previously run campaigns As follows: 194 million views in days, from May 22-27, 2020 To date (November 2020), the hashtag recorded 459 million views More than 90,000 videos joined the campaign in the first days With this level of data, it is not an exaggeration to assert that the vast majority of Vietnamese students have had the opportunity to access the EScooter electric vehicle line thanks to the Hashtag Challenge #Phieucungxechat on TikTok Notably, ‘Phiêu với xe chất’ is the first Vietnamese campaign to reach the top of the most prominent campaigns on TikTok, alongside other major campaigns from Europe and Southeast Asia And most recently, the campaign also won the MMA SMARTIES gold award for the Best Brand Experience in Mobile Rich Media category  Using famous influencers in the World This is the key point in Vinfast's marketing strategy, not only wanting it to become a domestic product but also able to compete with major brands in the world Before the launch, Vinfast revealed that they had invited an international star to attend the ceremony This information made fans excited because there was a celebrity representing a famous brand in Vietnam Vingroup invited the famous global star David Beckham to promote it at the Paris Motor Show, showing the company's passion and "play" David Beckham is one of the most expensive stars in the world, he used to represent top brands such as Rolex, Adidas, Armani, Gillette, Pepsi He rubs shoulders with Miss Tieu Vy, Tran Quang Dai and Vietnamese stars The number of followers of Vinfast in Vietnam and internationally is very impressive, proving that the attraction from these influential people is unparalleled  Promotions A communication strategy that hits Vietnamese people's psychology with promotional policies: giving away a luxury vacation package at the resort to customers who buy a Fadil car, giving customers who have bought a car a voucher worth 120 million VND to buy a second car or support relatives to buy VinFast Document continues below Discover more from: Kỹ Nói Trường Đại học… 5 documents Go to course Speaking TEST 10 Kỹ Nói None Câu hỏi ơn tập KNM1 Kỳ - T2-2023 Kỹ Nói None CHỦ ĐỀ - CHỦ ĐỀ 11 MXH với giới trẻ hiện… Kỹ Nói Thanh huong nothing Kỹ Nói 50% (2) None kinh tế doanh nghiệp thương… kinh tế quốc tế Correctional Administration 100% (2) Criminology 96% (114) cars, increasing the warranty period from years to years, with free 24/7 rescue service during the warranty period The 3K price policy (no investment depreciation costs, no financial costs and no profits) helps VinFast retain old customers and even turn them into "brand ambassadors" of this car company Promotion "0 VND registration tax and 5-year warranty", 10% discount when paying directly, free loan interest for the first years for customers paying in installments At the same time, 5-year installment payment policy and after-sales service also help VinFast retains old customers and even turns them into "brand ambassadors" of this car company  Vinfast launches "Global Vinfast Community - Vinfast's two-way interactive forum With the mission "For a better life for everyone" and the philosophy of putting customers at the center Vinfast always strives to bring optimal experiences to users Besides technological improvements, Vinfast also builds a community for Vinfast car owners and people who love the Vinfast brand, this helps Vinfast access many new domestic and international markets, making Increase brand recognition while also communicating Vinfast products  Communication towards sustainability Retain old customers and turn them into "brand ambassadors" Most of Vinfast's Communication strategies are built and developed over a long period of time A communication strategy can take a few years, even up to ten years, to truly complete It can be seen that Vinfast's marketing team is not too hasty and is always cautious when creating a new product The saying "Dục tốc bất đạt" is especially true for big and famous brands like Vinfast Possessing relatively large customer data, Vinfast must spend a lot of time "Lắng nghe tiếng lòng" of the market instead of creating superficial and poorquality products With the strategy of "ăn mặc bền", Vinfast not only "produces" effective media publications, but also captures market share thanks to its ability to understand and meet consumers' desires Communication for public  Communication attacks “national pride” This One of the communication strategies applied by Vinfast is to attack "National pride" A national pride when for the first time a Vietnamese-branded car, owned by Vietnamese people, will be produced (made in) in Vietnam and launched at a prestigious exhibition internationally like the Paris Motor Show One of the communication strategies applied by Vinfast is to attack "National pride" Let's go back to the history of the world's automobile manufacturing industry Even with famous giants who have positions in the world, Toyota cars are assembled in many places around the world but it is still a product owned by Japan, or look at the Chevrolet Colorados that are manufactured entirely in Thailand, then sold to the US What the above stories tell us? In the context of globalization in all fields, where it is produced will no longer be important, but instead where the soul of that product is and where customers will remember that product by default from where  As for the way of communication that attacks national pride, this is a smart and unique way of communication when Vinfast has "taken advantage" of the two words "patriotism", building trust in the hearts of consumers Viet with the goal of hitting the psychology of customers, especially generation Z, currently many brands are focusing on going long distances with these future consumers, they "educate" customers with products and strategies Promotional media taps into "national pride", thereby helping the brand grow as market competition with imported goods becomes increasingly fierce, helping businesses reach a large number of potential customers, thereby building appropriate strategies However, when communicating in this form, Vinfast has not yet fully gained the trust of customers In terms of design, Vinfast is not inferior to car models from big brothers in the world, but its youth is a limitation that makes many users skeptical about the level of perfection of this brand However, even though it is young, this is also the first car brand that Vietnamese people produced and received most good reviews from customers  Flashy, expensive media combined with highly influential people Social networks are filled with information about VinFast, from large forums to KOLs The launch event was reported live on television and most major newspapers reported heavily Not to mention appearing in many major foreign newspapers, including car pages as well as newspapers targeting foreign investors, right before the event As described by international journalists, Vingroup organized for them to visit the VinFast headquarters, which had just started construction year ago, to meet with senior leaders of VinFast before the launch of the first two Vietnamese-branded cars "Never has a domestic business had such a large, grand and majestic event" - said the director of a media agency who requested to remain anonymous when witnessing the launch ceremony of VinFast in Paris At the launch ceremony in Paris Motor Show, VinFast invited former British football player DavidBeckham, Miss Vietnam 2018 Tran Tieu Vy, Miss Universe Vietnam 2017 Hoang Thuy and model Tran Quang Dai and many major media agencies around the world This communications director commented that inviting British star David Beckham to attend the event is one of the proofs of Vingroup's "willingness to play and spend"  This is the communication method that Vinfast offers to balance direction and create awareness for the Vinfast brand, not a sales campaign When taking advantage of Influencer Marketing effectively, businesses can improve brand recognition, win customer trust as well as advertise products to a large number of customers easily However, this method of communication also costs money along with the media over-polishing the name When the real product appears on the market and is not as expected, the opposite effect will appear The first time the school spreads too much information, then the second or third time will cause people to not pay attention anymore  Creating brand identity, not focusing on sales From the beginning, VinFast's activities were not carried out sporadically but were carried out very coherently and methodically on all fronts However, VinFast's campaign only stops at the beginning: creating customer recognition, increasing customer brand awareness through communication campaigns Around the world, major car manufacturers know that VinFast has not done this yet Actually, got out the car, haven't done much yet However, Vietnamese people are curious about this event when they see it making a big debut elsewhere "Putting money" into a series of media channels, especially social networks with KOLs are a decisive tactic guiding public opinion and creating awareness of VinFast, not a sales campaign If media people over-exaggerate their names, when the real product appears on the market and is not as expected, it will cause the opposite effect This has appeared in Vinfast's strategy when there are more and more opinions about the quality of the company's products  Communication methods to build customer trust before the product is released to the consumer market Vingroup spends heavily in building the VinFast brand as well as developing car models It is not difficult to see that the Vietnamese car company wants to put quality first and position the brand as a high-end car manufacturer For VinFast, it is necessary to first build a brand and gain the trust of target customers before thinking about profit and sales goals That's why VinFast chose to start with high-end car models to build trust with customers Their long-term and sustainable development strategy does not encourage them to produce cheap cars from the first day they enter the market But building a brand for Vinfast can be costly while not yet launching sales, which means there is no profit to offset the costs  Vinfast's communication strategy is methodical, the type of "leaking" of information is very smart One of Vinfast's communication strategies is very successful in product launch campaigns (the same way Apple uses every time it releases a new product) This famous car company intentionally leaks information systematically in batches, which helps attract the attention, concern and discussion of public opinion One of the typical examples in the launch of the LUX A2.0 and LUX SA2.0 cars, information about the car was only a few images before its launch Information about the vehicle's techniques and interior is almost not disclosed As public opinion becomes more controversial and skeptical, information about the vehicle spreads more and more Applying this communication strategy along with the great brand power of its parent corporation, Vingroup, Vinfast has achieved much success today Any customer looks forward to owning Vingroup products Their success depends on the quality of their products If the products are not of good quality, aggressive media will only make the brand "die" faster  This method of communication is considered to be "high-skilled", "methodical", and a lot of money invested in VinFast's campaign, with almost "no money spent" on any product in Vietnam Looking back at the media campaign since its launch a year ago, this position emphasizes that VinFast uses the same trick that Apple is applying to its products, which is "rust" (leak) Accordingly, this company systematically leaks a series of information to stimulate curiosity, interest and discussion of public opinion However, Vingroup's communication campaign is not too different from other auto companies when they launch new products Because launching a new car model is an important, turning point event for many companies, especially new players like VinFast 10  Overal evaluation Vingroup is one of the largest corporations in Vietnam with many product brands in many different markets Behind the success of brands named Vingroup is customer understanding, premium product quality and effective corporate promotional communications activities Through the press, we can also see that each of the group's articles attracts and interacts enthusiastically, not only with each of the group's customers but also with the entire domestic and foreign communities Vingroup's communication method attacks national pride, is methodical in the form of information leaks and has a persistent direction However, each communication method that Vingroup applies will have advantages and disadvantages, but basically all of them bring certain consequences  Learning from experience Vinfast is widely known and exploded due to its extremely successful launch with methodical plans and strong communication on all fronts Below are communication lessons from Vinfast's market penetration process.Along the formation and strong development of Vingroup, the lessons we can see in Vingroup's external communication are: The Group has fully utilized the social media channels it has Participating in and organizing flashy events to create a viral effect to promote their name is something that other corporations also need to consider in terms of cost, but the corporation has determined that it is a quick and easy way to promote with potential customers Vingroup has exploited customer psychology and national pride Increase coverage with Influencer Marketing 11 IV Conclusion Facing the current trend of increasingly strong economic integration, Vingroup did not hesitate to become the first Vietnamese enterprise to start a business in the field of automobile manufacturing when establishing Production and Trading Company Limited VinFast is a new name in the international car market, but for the domestic market, this is the most anticipated name even before its official launch Since its establishment, the company has created a great reputation in the domestic and international markets VinFast has been very successful when using an integrated communication strategy, meaning not using a single tool but using multiple resonant tools at the same time Therefore, it has a huge influence VinFast's activities are not carried out sporadically but are coherent and methodical in all aspects It can be seen that VinFast's communication method to penetrate the market is not only positioned in the domestic market of Vietnam but also reaches out internationally with greater ambitions in the future Although it has achieved many remarkable achievements, besides that, Vinfast still exists, encountering some difficulties and challenges, and lessons have been learned, providing lessons and solutions to Minimize the limitations encountered and promote and seize opportunities to further promote the process of penetrating the market deeply Vinfast has expressed an extremely strong and intense desire that it will build a prestigious, classy and globally recognized brand, with the desire to contribute its efforts to promote the development of Vinfast, develop the heavy industry in Vietnam 12 _The End_ 13 More from: Kỹ Nói Trường Đại học… 5 documents Go to course Speaking TEST 10 Kỹ Nói None Câu hỏi ơn tập KNM1 Kỳ - T2-2023 Kỹ Nói 11 CHỦ ĐỀ - CHỦ ĐỀ MXH với giới trẻ hiện… Kỹ Nói None 50% (2) Thanh huong nothing Kỹ Nói None More from: dinh nguyen 30 Trường Đại học Thươn… Discover more 13 Computer graphic tài liệu tham khảo nha Thương Mại điện tử None HOW Cultural Differences Impact… Mạng máy tính None Oral Communication tài liệu tham khảo nha Phát triển hệ thống thương… None Recommended for you kinh tế doanh nghiệp thương… kinh tế quốc tế 100% (2) Correctional Administration Criminology 96% (114) English - huhu 10 10 Led hiển thị 100% (3) Preparing Vocabulary FOR UNIT Led hiển thị 100% (2)