With the mission "To create a better life for the Vietnamese people", Vingroup has developed a diversified portfolio across several business segments: Technology Heavy industry Consumer
Executive Summary
Vingroup, previously Technocom Corporation, was established in Ukraine in
1993 Technocom had a thriving instant noodle and fast food business from 1993 through the 2000s Vingroup began operations in Vietnam in the early 2000s with two important brands: Vincom and Vinpearl Vinpearl JSC and Vincom JSC amalgamated in January 2012 to establish Vingroup Joint Stock Company With the mission "To create a better life for the Vietnamese people", Vingroup has developed a diversified portfolio across several business segments:
Technology Heavy industry Consumer Retail Property Hospitality and Entertainment Healthcare
In each of its sectors, Vingroup continues to set and lead consumer trends, presenting Vietnamese consumers to a totally new, modern lifestyle with international-standard products and services Vingroup has established a well- known and respected Vietnamese brand and is pleased to be one of the country's leading private businesses
Vingroup, driven by its visionary ambitions and commitment to long-term investments, has established itself as a leading property developer and retailer in Vietnam Its unwavering focus on delivering quality products and services has garnered it a growing reputation and solidified its position on the global economic landscape Vingroup's diverse portfolio of offerings caters to various consumer needs, while its innovative approach and unwavering commitment to excellence continue to propel its growth and success.
To create a better life for the Vietnamese people
"CREDIBILITY - INTEGRITY - CREATIVITY - SPEED QUALITY – – HUMANITY”
Building Vingroup's Credibility is a top priority for the company The Group considers Credibility to be a competitive advantage, and it guards it with the same zeal as one would guard one's honor
Vingroup is completely prepared to carry out its plans and makes every effort to satisfy its obligations, even going above and beyond what customers and partners anticipate, notably in terms of product quality, services, and implementation progress
Integrity is a key component of Vingroup's business strategy We follow the law to the letter and uphold the highest standards of professional and social ethics
Vingroup has a customer-centric strategy, prioritizing the interests and desires of its consumers before its own Vingroup endeavors to give the greatest products and services to its consumers, and success is measured by customer happiness
Vingroup adheres to a customer-service philosophy, taking on projects only when it is sure in its capacity to complete them
Vingroup's commitment to creativity fuels the innovation and quality of its products and services The Group's "Dare to Think, Dare to Do" philosophy drives a culture of continuous learning and improvement By integrating cutting-edge scientific and technological advancements, Vingroup enhances efficiency and delivers exceptional offerings, ensuring that creativity remains a potent force shaping its every endeavor.
Vingroup encourages a "Learning enterprise" development attitude in which employees are not afraid to learn, self-study, and push above their limits
Their guiding idea is "Speed and efficiency in all activities," and their fundamental value is "Fast Decision Fast Investment Fast Deployment Fast – – – Sales Fast Change and Quick Adaptation." –
According to Vingroup, "glory belongs to those who meet deadlines." Vingroup recognizes the need of speed while maintaining a high level of quality
Vingroup's mission is to bring together the greatest people to deliver the finest products and services while also contributing to the development of a better society
Vingroup aspires to build a human capital force that is competent and efficient, with strong ethics and knowledge, and where each member is an expert in his specialty
Vingroup believes that the Group should resemble a healthy, well-shaped body free of excess fat We hire and keep the best people for each job, allowing each employee to advance in their position or risk being fired if they aren't
With kindness, compassion, and a humanistic attitude, Vingroup cultivates deep ties with our customers, business partners, colleagues, investors, and society
We consider our employees to be our most valuable resource, so we create a professional, dynamic, creative, and caring work atmosphere for them, as well as a competitive compensation package and equal development possibilities for all.
Vingroup espouses the "Harmony" philosophy, emphasizing honesty, integrity, and compassion in its operations Teamwork and loyalty foster a spirit of collaboration within the organization Balancing corporate objectives with community involvement, Vingroup demonstrates its commitment to corporate social responsibility Through these principles, the Group endeavors to create a harmonious and cohesive environment for its employees, stakeholders, and the broader society.
- VinFast, a subsidiary of Vingroup, is Vietnam's first large-scale automotive manufacturer and will be the country's first to compete at an international car show The company is currently designing and producing world-class innovative automobiles
- VinFast, as a Vietnamese company with a global vision, collaborates with leading European design, engineering, and component firms to develop products that match international standards and customer expectations in terms of design, quality, capability, automobile features, and driver experience.
Situation Analysis
Market Summary
Before Vinfast, there was no local car brand in the Vietnamese market, making Vinfast the first and most well-known Vietnamese automobile brand Vinfast has good information about the Vietnamese market, such as the average income, policy, and citizen demand, because it is operated by Vingroup, a local corporation As a result, Vinfast will be able to launch new goods based on this knowledge.
Macro Environment
Here are some results of the demographic survey 2020
-The total population of Vietnam is 96,208,984 people, of which the male population is 47,881,061 people, accounting for 49.8% and the female population is 48,327,923 people, accounting for 50.2% After 10 years, the population of Vietnam increased by 10.4 million people On average, there are 3.6 people per household, 0.2 people per household lower than in 2009 The Southeast is the most attractive destination for people, followed by the Red River Delta.
-As many as 1.3 million people immigrated to the Southeast region, employing more than two-thirds of the total number of inter-regional residents across the country The urban population is 33,122,548 people, accounting for 34.4% of the total population of the country
-As a result, we can observe that as the country's population grows, so does the number of households, raising the need for cars ownership to enable family travel In addition, as the population of metropolitan areas grows, so does the desire for car ownership The influx of immigrants, in particular, has increased the client base for Vinfast's products
2020 is considered to be a difficult and challenging year for the global economy, particularly Vietnam The world economy is expected to enter its deepest recession in history, with major nations' growth rates all plummeting as a result of the Covid-19 epidemic's detrimental effects However, with an expected GDP growth rate of 2.91 percent, Vietnam's economy has maintained its expansion
Here are some results announced by the Government Statistics Office:
In the general expansion of the total economy, the industrial and construction sector recorded the greatest growth rate with 3.98 percent, adding 1.62 percentage points to the entire growth With a 5.82 percent gain and a 1.25 percentage point contribution, the processing and manufacturing industry continues to play a vital role in driving the economy's development In the service sector, total retail sales of consumer goods and services fell by 1.2 percent in the first half of 2020 compared to the same time the previous year, but subsequently rebounded a rapid pace at It increased by 6.2 percent in the last six months, putting the domestic trade sector up by 2.6 percent for the year
Thus, we can see that the Vietnamese economy has been severely affected by the
COVID-19 epidemic, but for the auto market, the Vietnamese government has also introduced a lot of supportive policies For example, at the end of June 2020, the Government allows a 50% reduction in registration fees for domestically assembled cars to support people and businesses As a result, the registration fee for "domestic" cars is reduced from 15 million to nearly 300 million, depending on the model and brand
It is this 50% reduction of the registration fee for "domestic" cars that makes
"foreign" car importers forced to reduce the corresponding price to compete, even with a model that reduces the registration fee up to 100%, equivalent to a decrease from a few hundred million to nearly 900 million dongs helping the Vietnamese auto market in the second half of the year, car sales next month are higher than last month
In 2020, the Vietnamese auto market faced challenges, resulting in a 14% decline in sales in the first 11 months compared to the previous year However, the market witnessed a resurgence in the latter part of the year, with September, October, and November posting significant growth of 32%, 22%, and 9%, respectively As a result, the average monthly consumption during this period reached 22,615 vehicles, indicating a promising recovery for the industry.
Global issues that strongly affect the company's business activities such as Pollution environment: The amount of gas and industrial waste discharged by companies into the outside environment is a matter of great concern The current environmentally friendly car products that reduce emissions are becoming more and more popular and are favored and supported by many people Scarcity of raw materials: Raw materials are increasingly scarce, so for automobile products, the development of new cars running on environmentally friendly fuels is becoming more and more necessary The amount of energy is increasing day by day: so companies in the industry need to find alternative energy sources, operate efficiently, save production costs
VinFast Lux A2.0 is a 4-door sedan manufactured by VinFast of Vingroup, Lux A2.0 is developed based on the system of the 6th generation BMW 5 Series (2010-2016) This is Vinfast's first sedan, along with the Vinfast Lux Sa2.0 Suv that was first introduced at the Paris Motor Show 2018
Not only that, this is not an official commercial vehicle, but this model has more or less created a pervasive media effect with the positive feedback of millions of Vietnamese hearts about the pride of the car The first was produced by Vietnamese people
Lux A2.0 is considered as one of the cars with luxurious design lines from the experienced engineers of Pininfarina Company
The image of the letter "V" a symbol of Vinfast placed in the middle of the grille is complemented by 2 "V" LED strips on both sides connected to the front turn signals
In terms of dimensions, VinFast LUX A2.0 has a length x width x height of 4,973 x 1,900 x
1500 mm and a wheelbase of 2,968 mm Ground clearance 150mm Lazang design makes a lot of impression with images that are associated with the 5 ways of flowers or the image of a star to create an eye-catching look with meticulous and meticulous lines
Overall, the Vinfast Lux A2.0 car is luxuriously designed with a luxurious exterior from the famous Italian design firm Pininfarina Vinfast Lux A2.0 is also the pride of Vietnamese- branded cars
The cockpit is designed with a high-class dashboard made of carbon plastic, metal cladding details and a high-quality leather interior The driver's seat and the passenger seat are 12- way electric on the Premium version, 4-way electric and 2-way mechanical with 2 Standard and Plus versions The interior used orange tones as the main color with a 7-inch color screen in the middle More than half, with the following utilities:
• Wifi connection, 4 USB ports, Bluetooth
• Sound system with 8 speakers or 13 speakers with amplifier
• Smart key and push-button start
Engine, operating car Vinfast Lux A 2.0
Vinfast Lux A2.0 uses a copyrighted engine from BMW On the two Lux A2.0 Standard and Plus versions, the 2.0L turbocharged petrol engine, direct fuel injection, delivers a maximum capacity of 174Hp/4500- 6000rpm, maximum torque of 300Nm/1750- 4000rpm Operation and safety technologies such as Cruise Control, tire pressure sensor, electronic handbrake, Auto Hold, support for downhill departure, lane departure warning, etc are all very smart technologies used on modern luxury car models
Safety assessment of Vinfast Lux A2.0
The safety system of the announced VinFast Lux A2.0 has many modern features equipped such as:
• 7-inch color driver information display
•Emergency belt tension system, force limiter, front seats
•ISOFIX child seat fixing hook (2nd row, outer seat)
•Front and rear parking sensors
• Electronic/automatic handbrake, emergency brake assists (BA)
• Electronic brake force distribution (EBD)
•Assist to begin across the hill
• Automatic door lock function when the vehicle is moving and when leaving the vehicle
• The security of VinFast Lux A2.0 is also enhanced with an anti-theft alarm system and encryption key
The legal system affecting businesses is increasing: Antitrust law, intellectual property rights, patents will create opportunities for healthy competition among companies in the industry With the current development of consumer protection groups will be a threat to companies as this will increase the position of consumers, forcing companies to take more responsibility for safety products, advertising honestly and with culture political stability is a prerequisite for economic development When formulating a business strategy, it is necessary to consider political factors that are the ruling party's views, goals and social development orientation The degree of socio-political stability is reflected in the people's reaction to the perfection of the legal system, the effectiveness of law enforcement in social life
Competition
In Vietnam, this is a well-known brand
High-quality, easy- -repair to The device is straightforward
Satisfy a wide range of customer categories
Be developed in a really appealing manner Other: Honda/Ford/BMW…
The well-known brand in Vietnam
Long-lasting: use it for a long time
Safety features include adaptive cruise control, a camera system, and gas savings Comfortable: spacious, air conditioning, odorous, radio, etc.
Northern: Small, luxurious, and portable
Large size in the south
Organize a variety of maintenance and repair events
Discounts in the future or for a customer's acquaintance\
VinFast, the automotive brand of VinGroup, will be produced in Vietnam in
2018 and will compete in the urban and mid-range automotive segments VinFast was founded in late 2017 and officially introduced in the globe in October 2018 at the Paris Motor Show in France VinFast's long-term ambition is to become Southeast Asia's premier automobile manufacturer by 2025, with a production capacity of 500,000 automobiles per year and 1 million electric motorcycles
The vehicle market is brimming with world-famous brands like BMW, Mercedes, Toyota, and Ford Experts describe Vingroup's cars as "high-end, European technology," but the price is "chestnut."
Amphibious automobiles are uniquely suited to the Vietnamese environment, but electric motorbikes face significant price concerns In the first phase, smartphones priced between 2.5 to 6.3 million VND were considered affordable.
The aforesaid price is due to Vingroup's "3 no" pricing policy, which includes no depreciation, financial costs, or interest, but a commercial loss
THE MARKET TREND Of VINFAST IS FOLLOWING THE WORLD TREND
VinFast's brand is upheld via this communication approach
1 Develop a well-known international brand image With the goal of producing products of international renown, VinFast picked the Paris Motor Show, the most famous exhibition, to launch its brand
2 Promote a sense of national pride Vietnamese firms have always used the media that has attacked "national pride," and users have been very receptive When the Vietnamese auto business VinFast entered the battle to compete with "big guys" from the West, national pride was also one of its greatest competitive advantages
3 Communication with high-priced influencers for coverage
Miss Tran Tieu Vy, Queen Hoang Thuy, and model Quang Dai were among the invited guests at the ceremony that debuted VinFast The appearance of David Beckham, which drew 15,837 comments, was very beneficial to VinFast's brand
VinFast is expected to have more initiatives in the future to improve brand identification in both social media and real life Being a brand may be powerful enough to compete with multinational brands and give Vietnamese people a sense of pride in the worldwide arena
VinFast is the "offspring" of billionaire businessman Pham Nhat Vuong, who developed a Vingroup with an estimated worth of $10 billion USD from a 40,000 USD loan many years ago Vingroup operates in several industries like manufacturing, trade centers, complex housing, resort, education, health, and so on
VinFast made its global debut at the Paris Motor Show in October 2018, showcasing its first two automobile models This marked a significant milestone for the fledgling automaker, paving the way for Vietnamese customers to acquire VinFast vehicles within a year.
In 2017, more than 200,000 automobiles were sold in Vietnam, with a growth rate of roughly 25% per year over the previous several years Vietnam is seen as a developing prospective market by most experts both at home and abroad However, the advancement in technology will put VinFast ahead of many obstacles, especially because the VinFast engine is based on BMW engines Years of study have shown that Vietnamese clients are loyal
They are hesitant to purchase high-value items created in Vietnam because they are concerned about quality It is acceptable to purchase Vietnamese cuisine and beverages, as well as furnishings "However, when it comes to something as difficult and expensive as autos, they may be hesitant," said a market researcher VinFast's first strategy was to concentrate on the home market Automobile sales are predicted to rise sharply in the next years, with GDP growth predicted to be about 6-7 percent a year Even though VinFast's new manufacturing line has adequate capacity to fulfill domestic demand, the company's management are seeking for export potential, namely in Southeast Asia The VinFast facility is being built at a breakneck pace Even when it's pouring outside, workers toil away to keep the first VinFast products on the road: two small cars and one electric vehicle, before the second quarter of 2019, which is still a long way off It's been two years since the project began Vietnam's economy is growing rapidly, according to VinFast data, but per capita income is only around 2,000 USD per year Motorbikes, which are very popular in big cities like Hanoi and Ho Chi Minh City, are a good option for consumers who are still trying to save The income of people in urban areas is much higher than in rural areas, according to Ms Le Thi Thu Thuy, Chairman of VinFast Ms Thuy believes that VinFast's ambition to create and consume 250,000 automobiles is achievable given this considerable disparity
In reality, 250,000 automobiles per year equates to 38 automobiles every hour, which is a rather low amount by global standards According to VinFast's CEO, the company can increase capacity to 60 vehicles per hour when needed, which is in line with industry standards
As a result, the value system that VinFast has developed from its objectives does not appear to be limited to a single vehicle It is the worth of believing that Vietnamese businesses are capable of leading the global production chain with the help of large names in the industry It is also the worth of wishing to contribute to the development of domestic businesses, thereby generating momentum for the country's economic growth
According to BMI Research, from 2017 to 2021, Vietnam and the Philippines will be the two fastest-growing vehicle manufacturing markets in Southeast Asia
Both the Philippines and Vietnam are predicted to have economic growth rates of more than 6%, making them two of the world's fastest developing countries
Over the past four years, 25% of urban consumers in ASEAN economies have expressed an intention to purchase vehicles Among ASEAN countries, Vietnam exhibited the highest percentage (above 15%) in 2016 and 2017, surpassing the 11.9% recorded in 2013 This figure stands as the highest among the five ASEAN nations, including the Philippines, Indonesia, Thailand, and Malaysia.
Car sales in Vietnam surged dramatically from 2013 to 2016, according to official data, albeit they dropped from the beginning of 2017 to the end of 2017 According to FTCR, the reason for the slowdown is that Vietnamese customers are deferring auto purchases until 2018, in order to wait for the government to reduce the import tax from other ASEAN nations from 30% to 0% According to FTCR, auto sales in Vietnam would grow starting in 2018.
SWOT Analysis
- Consciousness: Having a certain level of awareness as a result of Vingroup
- Solid financials: Ensure that the marketing mix tactics run smoothly and according to plan
- Vingroup Ecosystem: Marketing techniques are aided by the use of VinID and Adayroi
- Reputation: Vingroup is renowned for being a leader in the real estate business, therefore clients will be wary of Vinfast's quality
- Limited product line: Having only joined the vehicle market last year, the product line will be limited
- Inferior brand: Because customers do not appreciate the brand, Vinfast is unable to charge the same rates for goods and services as its competitors
- Metro: Traffic congestion will be alleviated thanks to the new infrastructure
As a result, there is a significant growth in the demand for driving an automobile
- The average citizen's salary rises ( 20 percent ).
- The first Vietnamese car: one of Vinfast's advantages is that we don't need to spend money on promotion to introduce new items
- Imported automobiles from Asia are tax-free => low-cost imported automobiles are on the rise in 2019
- Metro: an alternative mode of transit that directly competes with existing modes of transit.
- Pollution: There is no environmental solution in Vinfast's new goods.
Product Offering
The Vinfast Lux A2.0 is a smart vehicle with a complicated design The sense of harmony and proportion is unsurpassed, from the aircraft-like hood to the traditional cab rearward to the enormous wheels and tires
DESIGN CHOSEN BY ITS PEOPLE
A automobile created particularly for Vietnamese users and voted on by them
Lux A2.0 has an extremely current and timeless appeal thanks to a mixture of muscular structure and tight lines
A stunning and world-class design that is also surprisingly flowing, evoking the Vietnamese environment and culture
VDSC anticipates the automobile retail business to improve in 2019, although the market will become more competitive, according to Vietnambiz (https://vietnambiz.vn/doanh-nghiep-ban- -o- -da-le to tang-truong- -tro-se lai trong- - 2019-115720.htm) The anticipation of lower import taxes from ASEAN customers resulted in a drop in automotive purchasing power in 2017 Due to severe constraints imposed by Decree 116, the sector continues to confront a supply shortfall in 2018
Despite increasing demand, the overall sales of the whole market in the first ten months of 2018 are still equal to the same period last year, according to the latest analytical report of Viet Rong Securities Joint Stock Company (VDSC)
However, most importers were able to fulfill government quality, technical safety, and emission criteria in the latter months of 2018 VDSC predicts that the automobile retail business will improve in 2019, but that the market will also become more competitive
Automotive supply is expected to rebound strongly in 2019
Importing automobiles was impossible in the first seven months of 2018 due to Decree 116's restriction on type certificates of quality (VTA) The supply of imported cars fell by nearly 16 percent in the first eleven months of 2018
However, in the final months of 2018, supply began to improve as most exporting countries' governments adhered to the decree's requirements
As a result, VDSC anticipates that the recovery will continue in the coming months, with CBU supply in 2019 rising dramatically from 2018 lows On the other hand, government regulation will put a stop to expansion
Automobile purchasing power remained high
The import of automobiles appears to have been temporarily halted in the first months of 2018, implying that the supply will be insufficient to fulfill the market's strong demand throughout the year As a result, consumers will have to wait another two to three months to get their hands on the vehicle
Many clients agreed to put down a deposit in early 2018 and get the automobile in early 2019 Furthermore, the vehicle retail business in Vietnam still has a lot of space for expansion.
Critical Issues
- Because Vinfast is the first Vietnamese vehicle brand, it must be very cautious to safeguard its image, which also represents Vietnam;
- As a result of the tax benefit, the price of Vinfast goods must be set at the same level as worldwide automobiles of comparable quality
Establishing a stellar first impression for customers is paramount for enhancing Vinfast's reputation By delivering exceptional experiences from the outset, Vinfast can create a positive perception among its clientele This positive perception will serve as a foundation for building strong customer relationships and fostering loyalty to the brand Ultimately, exceptional initial impressions will contribute to Vinfast's overall success and growth.
Marketing Strategy
Market Demographics
Vinfast's customers are defined by the following geographic, demographic, and behavioral characteristics:
Geographics: In Vietnam, concentrate on the major cities
Vinfast vehicles target individuals over 30 years of age and cater to all family sizes They appeal to high-income earners (over 50 million VND/month) who prioritize sophisticated, world-class automobiles Despite their premium features, these vehicles maintain a competitive starting price, making them accessible to discerning consumers who appreciate the pride of owning a Vietnamese brand.
- Vinfast products are ideal for consumers who often use cars due to their low cost and ease of maintenance
- People that drive a car on a regular basis will benefit from the volume consumption
- Vingroup's brand loyalty consumers are Vinfast's potential consumers.
Mission
VinFast is a part of VinGroup (Vietnam's largest private company), but its aim is more than just commerce and commerce According to the Ministry of Industry and Trade, a nation with a population of more than 50 million people must have its own automobile brand Vietnam's officials have also said several times that the country need a national automobile brand As a result, the creation of VinFast is the wish of both political system and series of support policies not only for VinFast but also for VinGroup.
Marketing Objectives
- Gain a portion of the worldwide market
- Vinfast is becoming more well-known, but it does not yet require a sales plan.
Financial Objectives
Increase the profit margin to 1% to 2% each quarter Maintaining product R&D budgets, keeping quarterly profit at 10%, and promoting products in the media during the quarter because it is the first product line about Vietnamese cars In the first three years, economic growth will double, resulting in the creation of new items.
Target Market
Targeting individuals over 30 with a substantial monthly income over $50 million, Vinfast seeks to cater to a demographic with financial stability and life priorities, including family and personal fulfillment The focus on this age group is driven by their established income and financial security, making them more likely to consider purchasing an automobile.
Gender: Unisex Age range: 30 to 50 years old
Monthly income: more than 50 million VND
Gender: Unisex Age: Over 50 years old
Monthly income: more than 50 million VND
Geographic Vietnam's major cities Vietnam's major cities
They utilize Vinfast goods for personal, family, and other purposes • They seek to enhance the quality of their lives
They purchase items for themselves or their youngsters
They wish to purchase a high- priced item
They want to demonstrate their advantage.
There aren't many amount of effort on locating high-quality products, which gives them a sense of security
They have a large family individuals in their family
Boost their status and quality of life
Updates are usually made in the news
Improve their status and quality of life
Positioning
Vinfast opted to situate itself as a Vietnamese vehicle line and create by Vietnamese people for the first time, demonstrating the vigor of the Vietnamese character Vinfast produces world-class automobiles with a distinct Vietnamese identity
“We have revolutionized the way traditional design is done by asking the people of Vietnam, our first prospective consumer, to be intimately involved in the automotive design process from the start." - According to Vinfast.
Lux A2.0 will be positioned by Vinfast as a high-end product that is still relevant This positioning will determine the value of Vinfast products as well as the market niche in which Vinfast will focus Furthermore, Vinfast advertises itself as a vehicle brand for Vietnamese people, giving the impression that the Lux A2.0 is a car for Vietnamese people as well, with a reasonable price and great quality.
Strategies
Vinfast and Lux A2.0 require initial brand awareness in the Vietnamese and global markets To initiate this, Vinfast will release reservation prices strategically below actual prices to capture attention and expand their customer base Additionally, the official Lux A2.0 website will provide comprehensive information, designed for quick and easy access Together, these tactics cater to customers' immediate need for information and increase awareness Vinfast will utilize social media platforms and online publications to disseminate updates about the commercial version, further enhancing awareness levels.
Advertisements will be the second technique of marketing Lux A2.0 will be published as a commercial version with an official pricing after it has gained enough renown Because Vinfast has to update the pricing and underline that the Lux A2.0 is available, advertising now is the best method
To enhance sales of its Lux A2.0 model, which has entered the Growth phase of its lifecycle, Vinfast will employ a multifaceted marketing strategy By combining sales promotions, direct marketing, and public relations, Vinfast aims to accelerate sales and maximize returns during this brief growth period These combined strategies will drive consumer demand, increase brand visibility, and ultimately boost revenue.
Marketing Program
Focus on using techniques like PR, internet marketing, and direct marketing to promote advertising and raise awareness
The first purchase price (pre-order) is 900 million VND; after March 2019, the price will return to the baseline price of 1.366 billion VND, with a cheaper price when purchased through Adayroi.com
The Audience applauds Vingroup's carmaker's "3 no" price strategy to help customers (no depreciation, no financial costs and no interest)
Currently, VinFast is establishing a countrywide distribution network with 15 product showrooms, 400 selling outlets, and 22 authorized dealers selling electric motorcycles across the country VinFast is also developing a unique service ecosystem, which will include service complexes, charging stations, customer care center systems, and product warranty and repair sites When electric motorcycles are released onto the market
- Digital marketing (website, Facebook and Google ads, SEO, etc.) has a budget of
75 billion VND from January to December 2019
First quarter: from January to March in 2019
We need to display over 9 notable new papers, online news, and new papers for trades and economics in book arcticals => Budget: VND 200 billions
Second quarter: from April to June in 2019
KOLS: Vinh Thuy, Noo Phuoc Thinh, Thuy Tien - Cong Vinh, Cong Phuong, Tran Thanh, Quang Dai, Miss Vy Vy=> budget: 10.5 billion VND Event inaugurated in Vinhomes Hai Phong (April 6th - April 7th) and Landmark HCMC for 2 days (April 13th - April 14th), invited KOLS: Vinh Thuy, Noo Phuoc Creating posters and billboards in residential neighborhoods, wealthy homes, business centers, and luxury apartments such as the Vincom region, as well as a shopping mall => budget: 10 billion VND
Need to create some TV and Youtube advertisements => budget: 30 billion VND
Third quarter: from July to September in 2019
Budget: 50 million VND for direct marketing to clients having a VIN ID Budget: 30.5 billion VND for advertising on planes, television, and newspapers
Fourth quarter: from October to December in 2019
Set up a customer appreciation event to which Vin customers are invited Use email to invite people based on their financial capacity to attend Quang Dai, Miss Tieu Vy, and other KOLs => 40 billion dollars in the budget
After 6 months of ownership, call for car maintenance
Send birthday greetings and presents on special occasions like birthday, March 8th and October 20 th ….
Marketing Research
Vinfast began conducting surveys of consumers who had used the product as well as learning about the wants of new customers after a time of product introduction to be able to renew designs and improve product quality.
Financials
Sales Forecast (Not Available)
Departme nt a1 Marketing plan completion
Vo Quang Hue manage outsour ce
Marketing a3 News paper and online news
Vo Quang Hue Marketing a4 Event 01/04/20 30/06/20 50.5 Vo Marketing
Expense Forecast
Departme nt a1 Marketing plan completion
Vo Quang Hue manage outsour ce
Marketing a3 News paper and online news
Vo Quang Hue Marketing a4 Event 01/04/20 30/06/20 50.5 Vo Marketing
Marketing Offline Advertise on the TV and Youtube
Advertising on aircraft, television, newspapers
Vo Quang Hue Marketing a6 Customer appreciation event
Controls
Implementation
The key marketing programs are identified in the milestones that follow It's critical to complete each task on time and within budget.
Contingency Planning
The event did not have the desired effect; few customers attended, and there was no lasting impact
Already have counterfeit customers, who book news and boost SEO illegally
In Vietnam, the demand for automobiles is rapidly growing, outpacing that of other ASEAN nations Vingroup, a leading Vietnamese conglomerate, has capitalized on this demand by launching VinFast, its automobile manufacturing arm VinFast has invested heavily in its automotive operations and has launched a successful marketing campaign that has generated significant brand awareness and excitement.