Most recently, according to statistics from the Registry, with a total sale of 5124 cars, VinFast ranked 5th in sales in the first quarter of 2020, which is considered a good result of t
General introduction about Vingroup
Vingroup is one of the largest multi-industry private economic enterprises in Asia with a market capitalization of nearly 16 billion USD The group operates in 3 core business areas, including: technology, industry and trade in services.
With a long-term vision and a view of sustainable development, Vingroup has focused on investing in tourism and real estate with two initial strategic brands, Vinpearl and Vincom In January 2012, Vinpearl Joint Stock Company merged into Vincom Joint Stock Company and officially operated under the Group model with the name Vingroup In the spirit of sustainable and professional development, after its establishment, Vingroup has restructured and placed an emphasis on developing with many sub-groups, such as:
• Vinhomes (Real estate, villas and services)
• Vincom Retail (Commercial and office real estate).
• VinWonders (Entertainment company such as ice skating area and water park).
• VinID: A tool that connects the entire ecosystem of Vingroup
• Vinschool: education from preschool, primary school, middle school to high school
• VinUni: Higher Education: Vinmec Medical University and VinUni International University
• VinFast: manufactures cars and motorbikes.
Introduce about VinFast
The company VinFast Manufacturing and Trading Limited is a member of Vingroup This is a Vietnamese automobile and electric motorcycle factory established in 2017, with its head office located in Hai Phong city, led by Mr James Benjamin DeLuca and Le Thanh Hai as CEO The company's name is abbreviated from the phrase "Vietnam – Phong cach – An toan – Sang tao – Tien phong"
Full name The company VinFast Manufacturing and
• Mrs Le Thi Thu Thuy (COB)
• Mr Le Thanh Hai (CEO)
• Mr James Benjamin DeLuca (CEO)
• Mrs Ngo Thanh Van (brand ambassador) Headquarters Dinh Vu–Cat Hai, Hai Phong, Viet Nam Hotline 1900 23 23 89
Website https://vinfastauto.com Email cskh@vinfast.vn
VinFast currently owns a representative office in Hanoi and a manufacturing plant with an area of 335 hectares with a total investment of 3.5 billion USD in Hai Phong, which is also one of the largest industrial projects in our country
This factory helped VinFast create a miracle in the world car industry when it completed the construction of the factory and installed the production line in just 21 months The factory went into operation on June 14, designed capacity of phase 1 is 250,000 cars/year, phase 2 is 500,000 cars/year, production rate is 38 cars per hour Most recently, according to statistics from the Registry, with a total sale of 5124 cars, VinFast ranked 5th in sales in the first quarter of 2020, which is considered a good result of the Vietnamese car company after the first three months of 2020.
The development process of VinFast
The establishment of VinFast shows the desire to build a Vietnamese brand with world-class standards, affirming the Vietnamese people's ability to master modern technologies Through the field of automobile and motorcycle manufacturing - one of the leading industries, having an impact on many other industries - Vingroup wishes to participate in contributing to promoting the development of heavy industry as well as industry Manufactured in Vietnam, contributing to the country's industrialization and modernization
In February 2017, the VinFast electric motorbike-car production complex project in Dinh Vu - Cat Hai economic zone was started by Vingroup, with the participation of Prime Minister Nguyen Xuan Phuc
In October 2018, VinFast launched two models of VinFast Lux SA2.0 and VinFast Lux A2.0 at the Paris Motor Show and was held in Europe's leading automobile industry – Auto Best honored as a "Ngôi Sao Mới" of the automotive industry
In November 2018, VinFast inaugurated the eScooter smart electric motorcycle factory and launched the first electric motorcycle product line VinFast Klara with 2 versions using Lithium-ion batteries and using lead-acid batteries
In January 2019, the company also introduced a limited special edition Lux SUV at the Geneva Motor Show: The VinFast Lux SA2.0 SUV was officially completed, rolled and prepared to be tested The first batch of VinFast cars among 155 VinFast LUX cars was sent for safety testing in 14 countries on 4 continents
In June 2019, VinFast inaugurated and put into operation a car factory in Dinh Vu
- Cat Hai economic zone after 21 months of construction and started to hand over 3 car models VinFast Lux SA2.0, VinFast Lux A2.0 and VinFast Fadil
In September 2019, the company officially launched two electric motorcycle models Ludo and Impes VinFast and also introduced an upgraded version of the electric motorcycle line
In January 2020, VinFast announced aggregate sales figures for 2019 Accordingly, a total of more than 17,000 VinFast cars and 50,000 electric motorbikes were ordered by customers In June 2020, VinFast officially opened an office in Melbourne, Australia After that, the company launched a limited edition V8 SUV model President affirming the class of the Vietnamese car brand after 2 years of launch.
Macroenvironment 2.1.1 Population and demographic factor …
Natural environmental factors …………………… ………….1 7 2.1.6 Cultural and social environment …
The natural environment creates markets that supply business inputs as well as affect income, employment and population Therefore, it affects the purchasing power, consumption ability, sales of enterprises and sustainable development strategies of enterprises and organizations
For the automotive industry, climate change and environmental protection are now one of the important issues that strategy planners and marketing managers need to pay attention to It has become a global problem, requiring everyone's action to limit negative impacts and gradually improve damage to the environment n order to limit this situation, over the years, car manufacturers have changed direction and constantly innovated technology, introducing fuel-saving, emission-reducing, and environmentally friendly vehicles Especially with the emergence of electric vehicles, which use renewable and environmentally friendly clean energy
The natural environment can become an opportunity as well as a threat to car manufacturers like VinFast Managers need to care about the natural environment, both to obtain the necessary resources and to avoid damaging the environment
Culture - society are playing a crucial role in effective affecting the management and business activities of all enterprises When there is a change in lifestyle, religion, and qualifications, there will be a huge change in the demand for products Capturing these factors will help businesses quickly adapt to customer requirements, have appropriate production or marketing activities For example, the aging trend of the population will create opportunities for businesses operating in the fields of medical services, tourism, nursing homes, etc The increased level of education will increase the quality of resources national manpower
In the past, Vietnamese people tended to ride motorbikes more than cars because when traveling far away, people could choose public transport at a reasonable price instead of having to spend a large amount of money to buy an umbrella bowl In recent years, buying goods with Vietnamese people, especially luxury goods, is quite popular, which may be due to the wings of Vietnamese people Those advantages have strongly hit people's psychology, creating an opportunity for automobile manufacturers to constantly innovate and develop to meet the market Pioneering in the field of automobile manufacturing in Vietnam, VinFast brings to the market its quintessential products to serve the increasing tastes of domestic and international people.
Microenvironmen 1 Suppiles
Currently, Vietnam is emerging as one of the most potential automobile consumption markets in the world With the income of Vietnamese people increasing, estimated to reach over $3,000 by 2021, combined with improved infrastructure and attractive demographics will be a prerequisite for the purchasing power of Vietnamese people Vietnam's automobile market will grow strongly in the coming time
As a leading enterprise in the field of automobile manufacturing in Vietnam, VinFast successfully organized a workshop with suppliers in Frankfurt, Germany The event gathered more than 300 prestigious suppliers in the world and gained positive effects, proving the attractiveness of VinFast's large-scale car production project, and affirming the company's commitment will produce cars that meet international standards
In April 2018, VinFast and General Motors (GM) signed a strategic cooperation agreement At the same time, VinFast received the transfer, took over the entire GM factory in Hanoi, and implemented investment activities to increase capacity to produce a completely new line of small cars licensed by VinFast from GM
Next, VinFast signed a series of important contracts:
- Cooperating with LG Chem Company (LG Group - Korea), Lear… produces international standard battery lines, used for VinFast electric vehicles and other products, towards perfecting the ecosystem for the automobile and electric motorcycle manufacturing industry
- On June 11, 2018, AAPICO Hitech Company (Thailand) and VinFast Company signed a memorandum of understanding to establish a joint venture factory for stamping and welding body parts AAPICO is one of the leading auto parts manufacturing companies in Thailand, specializing in the production of jigs, molds, stamping parts, plastic parts, hot stamping, and other auto parts has network in India, Europe, USA, Mexico, China
- In addition, VinFast has obtained lucrative contracts to buy back intellectual property rights from BMW Thanks to that, the company has almost completed its entire production process:
• BMW (technology, techniques, production methods)
• Magna Steyr and AVL (automobile engineering and consulting)
• Siemens (factory design, management and operation)
• Bosch (automotive components and technology).
- Starting from June 2019, Hanoi An Phat Plastic Factory (VAPA) will officially come into operation VAPA will provide plastic components for VinFast to serve the automobile and motorbike manufacturing industry and will expand its customer network in the future Thanks to this, the localization rate of each car and motorbike of VinFast will be increased, helping to realize the dream of Vietnamese cars
From the above cooperation, we see that VinFast owns the most developed technology in Vietnam Along with a clear orientation on development goals and directions, VinFast's supply chain will conquer the Vietnamese market and quickly spread to many regional and international markets
Customers - the decision - makers to purchase products and services of the business are the most important actors in the company's micro environment Customers are the beneficiaries of the quality characteristics of products and services The goal of the entire value delivery network is to serve target customers and create lasting relationships with them
Five types of customer markets:
• Consumer market: individuals and households buy goods and services for personal consumption
• Business markets: buying goods and services for further processing or use in their production
• Reseller market: buy goods and services to resell at a profit.
• Government market: made up of government agencies that buy goods and services to produce public services
• International markets: buyers in other countries, including consumers, manufacturers, resellers and governments
Businesses need to create good awareness for the target customer group, build an effective distribution system to each of those customer groups VinFast has identified target customers based on the following criteria:
• Increasing consumer demand: The increasing income of people leads to an increase in the demand for car purchases Residents of big cities like Hanoi, Ho Chi Minh, and Da Nang… increasingly have a need to use "clean" vehicles Therefore, Vinfast is researching to produce electric cars
• After-sales service: Vinfast offers a gift package worth 15 million VND to customers who have received Fadil cars through the program "Top notch experience with VinFast Fadil" In addition, the program "Exchange old for new", applies to owners of all car manufacturers who want to change to Vinfast
• Reasonable prices for the market segment: VinFast continues to introduce strong and personality SUVs and sedans with the beauty of Vietnamese brands With only
336 million dongs, we can own the remote model VinFast Fadil is making a splash
• Quality is the most important factor: According to VinFast, the components or parts on the car are guaranteed to be of the highest quality In addition, the company's models will in turn undergo hundreds of tests for quality and safety standards in 14 countries before mass production
It is easy to see that Vingroup has a huge list of potential customers, who are using real estate, tourism, medical examination, services, supermarkets or have children studying at member schools Therefore, VinFast will have a certain advantage
Competitors are organizations and individuals that can satisfy the needs of the target customers of the business with the same product or service Marketers must gain a strategic advantage by positioning their products relative to their competitors' products in the minds of consumers
As of mid-2020, VinFast has deployed 2 main product lines in Vietnam: electric motorbikes and gasoline cars So far, the company has sold three different car lines including VinFast Fadil, VinFast Lux, VinFast President, and VinFast Premium In which VinFast Lux and VinFast President are high-class cars, so they have high prices Thus, in the future, VinFast will have to compete with many competitors on price
STP STRATEGY ANALYSIS 3.1 Market Segmentation …………… ………………………………….2 3 3.2 Market Targeting
Market Positioning
• Clear, distinct and desirable position relative to competing products in the minds of target consumers
• Product placement is that how a product is identified by consumers based on important attributes
Choosing a differentiation and positioning Strategy
Currently, in the era of rapidly developing information technology and globalization trend, goods from any country can be easily present around the world Sometimes there are outstanding brands or brands that do not have a name in the market, and there are brands that have some similarities that cause confusion Therefore, one way that can solve these problems is brand positioning It is a problem for any business, in order to be successful in today's fiercely competitive market, it must build a solid brand customer' thoughts Vingroup has release to the public the VinFast brand, promising to be a prestigious car brand for Vietnamese people However, currently in the Vietnamese market, major car manufacturers such as Toyota, Audi, Mercedes, Kia, Hyundai, Ford are dominating the entire domestic market and are trusted by consumers So the question is, how can VinFast compete with the "big guys" - such global brands?
From the very beginning, VinFast has worked closely with the world's leading names in engineering, industry and technology such as BMW, General Motors, Magna Steyr, AVL, Bosch, Siemens, Pininfarina, Ital Design , GROB-WERKE, Eisenmann, Schule The cooperation with these "giants" has helped VinFast enhance very quickly on the road to form its brand when it launched the first
SELECT POSITIONING STRATEGY products with quality equal to those famous car brands in the world, but the price is suitable for Vietnamese people
Next, VinFast is implementing strong communication strategies, affirming itself as a leading and pioneering manufacturer in the domestic automobile manufacturing industry
In addition, VinFast has a huge advantage that is Vingroup, a huge backing, both in terms of finance and technology as well as in terms of name and trust level of customers and the public with Vingroup, which is extremely large
“We want to build a world-famous Vietnamese brand The biggest challenge is that Vietnamese products do not have global brands With many international friends, Vietnam is still a poor and backward country We have to find a way to promote and demonstrate our products represent a dynamic, growing Vietnam that is moving towards the highest standards in the world,” said Vuong The brand positioning of VinFast affirms the difference and aspiration that the Vietnamese car brand has compared to domestic and international competitors
VinFast is just a new name in the international car market, but for the domestic market, it is the most anticipated name since it has not been officially launched It can be seen that VinFast's marketing strategy is positioned not only in the Vietnamese domestic market but also internationally with much larger ambitions in the future
CHAPTER 4: MARKETING MIX STRATEGY ANALYSIS (4P)
Today, the continuous development of the digital era and user needs require businesses to invest large resources in building a marketing strategy With the right marketing strategy, businesses will realize their business goals and have a foothold in the market
One of the case-study on successful Marketing Mix strategy is VinFast - the brand that has spectacularly overwhelmed the big players in the automotive segment, capturing the 4th market share after only 2 years of launch
Marketing Mix is a collection of marketing tools used to accomplish a business's marketing goals Marketing Mix includes 4 elements: Product, Price, Promotion and Place
Until 2021, Vinfast has deployed car lines including: VinFast Fadil, VinFast Lux (including VinFast LUX SA2.0 SUV and VinFast LUX A2.0 Sedan), VinFast President and VinFast Premium (including 7 models: VinFast Pre A Hatchback, VinFast Pre B Hatchback, VinFast Pre C Sedan và CUV, VinFast Pre D Sedan, SUV and family car MPV)
In terms of products, all VinFast cars are meticulously designed with both exterior, interior and engine design, because VinFast brings the faith and hope of Vietnam to bring the first automotive product to the international market
The models that have been launched to the market all have their own symbol of VinFast It is a very prominent front end design with the 'V' logo in the middle of the two chrome strips just above the grille This is the unmistakable identity of VinFast cars, it means: "Vietnam", "Vingroup", "Vuon len" In the body of the car, all three models have a very personal floating folding line The models once again repeat the brand when adding the VinFast logo on the rear of the car
Moreover, VinFast also launched models with many colors, suitable for all customers In addition, the sublimation design of VinFast models is penned by the world's leading design units, especially customers can participate in the design decision process for future VinFast cars - something unprecedented in the auto industry
Show respect and listen to customers as a car brand for everyone, not just VinFast The creative and impressive approach sets the stage for customer-centricity This is considered a right marketing strategy, attracting a large number of customers who want to freely think and express their creativity
VinFast's cars are all equipped with very modern interiors The seats and steering wheel of the cars are covered with high-quality leather The center console area is designed to be extremely delicate and neat All models are equipped with an entertainment system with a touch screen integrated with Android, Apple Carplay, USB connection, Bluetooth…
In terms of performance, VinFast is a car that uses foreign technologies Therefore, when launching the car models, they were highly appreciated for their engines as well as safety systems The models according to the evaluation all operate quite smoothly, the sound insulation between the cockpit and the engine is extremely good Power steering and safety systems make steering in bends very easy Moreover, the company also focuses on equipping safety systems with 6 airbags, cornering control system, anti-roll, electronic brake, anti-lock braking system, emergency brake support, reversing camera
“Without requiring ASEAN NCAP standard, VinFast does not need to do testing according to this standard But they still do it for the customer ASEAN NCAP is a reaffirmation of the quality of VinFast cars,” said expert Hai Kar.
Price
Price includes pricing strategies that give the product a good competitive advantage in the market, as well as good protection against competitor functions
Back to VinFast's customers who want high-quality cars that are affordable Based on this demand, VinFast has determined a strategy of higher rating than Korean - Japanese car manufacturers, but lower than European car manufacturers such as Mercedes or BMW
Ever since VinFast announced the prices for the car models in November 2018, a part of customers said that VinFast cars are domestically produced but the price is high, not meeting the expectation of the car "200 million or low than” of the Vietnamese However, automobile expert Nguyen Thanh Hai (Hai Kar) believes that when VinFast started participating in car production, it followed international quality standards, and such car prices are reasonable with quality
VinFast's three models have three different price ranges, giving users many choices from affordable to high-end All of models have a luxurious, high-class and sophisticated appearance but the price is extremely competitive
Fadil is the cheapest car in the 5-class A hatchback segment that is very popular in Vietnam because of its reasonable price, convenient to use in the inner city, and especially suitable for running services that are growing Specifically, this model has a list price of 425 million - 499 million, slightly higher than Fadil's direct competitors such as Kia Morning (about 304 million VND), Hyundai Grand i10 (about 330 million VND) and Hyundai Grand i10 (about 330 million VND) Toyota Wigo (about 352 million VND)
With two luxury car models LUX, A2.0 was launched on the market with prices ranging from 1.15 billion VND - 1.36 billion VND for each standard, upgraded or high-end version, rivaling other luxury cars D-class sedans such as Toyota Camry, Mazda 6 or Honda Accord With the current price of more than 1.1 billion VND for the standard version, LUX A2.0 has a reasonable and competitive price compared to competitors, but the high-end versions are better
As for the Lux SA2.0 series, it is positioned in the luxury SUV segment, competing mainly with European rivals such as BMW X5, Mercedes-Benz GLC
300, Peugeot 5008, or Volkswagen Tiguan Allspace With the current price of over 1.83 billion VND for the high-end version, SA2.0 is slightly better than Peugeot
5008 and significantly cheaper than GLC 300 and X5.Lux A2.0
As a completely new car brand in Vietnam as well as the desire to bring its name to the world market, VinFast seems to have a very thoughtful calculation when launching 3 models in 3 different segments Each model has its own advantages, and the current VinFast car price with incentives is also reasonable to compete with foreign competitors.
Promotion
• Promote products on all fronts
With a comprehensive communication strategy, VinFast implements the method of "total attack and rise" on all forums Specifically, VinFast's marketing strategy directly targets domestic and foreign communication channels and social media channels It is thanks to the accurate customer positioning factor plus the understanding of Vietnamese users' psychology VinFast quickly blocked Social Media Combined with the form of word of mouth has increased viral efficiency The company received 90% positive feedback thanks to the amount of Seeding on social networks In particular, when asked about VinFast, 80% of the answers were
"know" This shows that the marketing strategy of VinFast in particular and Vingroup in general lies in the fact that they know how to leverage the media Utilize and make full use of channels to "pre-empt" consumers shape the user's consciousness about the obvious presence of Vinfast The launch of VinFast products at the Paris Motor Show is also one of the investment product PR strategies
In addition, in the match between Vietnam and the United Arab Emirates (UAE) in the second qualifying round of Group G World Cup 2022, in addition to the presence of a large number of Vietnamese fans, close Along with the team, there were also a series of cheering banners from home brands, from Son MyKolor, Mikado ceiling panels and Mr Park's milk from VP Milk which took turns appearing on the billboard in Zabeel Stadium In particular, among them is the appearance of a car manufacturer from Vietnam - VinFast
• Take advantage of KOLS to shape public opinion, create the brand identity
This is the key point in VinFast's marketing strategy The company already has a product expansion strategy to compete with major global brands VinFast media only revealed that the company had put a lot of effort into inviting international stars to participate in this launch event Therefore, it makes Vietnamese people even more excited because there is a world-famous person to represent the Vietnamese car brand
Along with Miss Vietnam 2018 - Tran Tieu Vy, a once talented midfielder of Manchester United club as well as the British team - David Beckham will become one of the special guests attending the launch of two concept cars
VinFast's first David Beckham said: "I think the two cars are amazing They are modern, comfortable, high-tech, really classy I think this is a source of pride for all Vietnamese people when they have their own car brand, at a global exhibition in Paris Congratulations" Using the world's first-class Influencer to increase excitement and attract public attention is a very smart marketing strategy of VinFast Indeed, the attraction of these Influencers is not small when the number of followers of VinFast's launch event in Vietnam and the world is extremely high
• Arousing the ideal of “national self-respect”
A great product that seemed to only appear in the world is now produced in Vietnam Then why can national pride be ignored? Why not support high quality Vietnamese goods Why ignore the criterion "Vietnamese people use Vietnamese goods” When the first car was labeled "made in Vietnam" 100%, it was manufactured and operated by Vietnamese people in the market It was also launched at the Paris Motor Show international auto show So how can Vietnamese users resist
Try to recall the story in the automobile industry in the world A famous Toyota car is assembled from many places But in general, Toyota brand cars are still owned by Japan Or a premium Chevrolet Colorado that is 100% made in Thailand and resold to Americans The market is still made in the US What do all these issues say about business importance? It doesn't matter where it was born or manufactured The most important core is where is the brand of that product/service? In any place that holds the soul of the car, customers will remember that place
In fact, VinFast ignored the extraneous information to focus on the nation's self- esteem, and it is confirmed that VinFast cars are of Vietnamese brands, owned by Vietnam
Currently, Vinfast actively shares a lot of information with the domestic press But any information on the R&D department It is also possible that they planned to make a surprise announcement as they were consulted and worked on the project
VinFast's marketing strategy is really effective and successful They hit straight and correctly assessed the mentality of the Vietnamese people Vietnamese people use Vietnamese goods and must protect Vietnamese brands!
VinFast officially expanded the incentive program nationwide, in order to further spread VinFast's gratitude to customers in September VinFast offers a golden opportunity for customers to own a luxury car at a favorable price and attractive gifts such as:
- 10% off order value, maximum promotion value up to 192 million VND
- Voucher Vinhomes up to 200 million VND
- Renovated old revenue supports up to 50 million VND
- 100% preferential registration tax up to 186 million VND
- Installment installments for 2 years without interest, from the 3rd year not exceeding 10.5%/year Installment payments from only 3 million VND/month
- Free parking at Vinhomes, Vincom, VinPearl
Place
Since March 15, 2019, instead of having to open showrooms, VinFast signed a strategic partnership agreement with Chevrolet enterprise under GM group to use the production plant, sales, care agency system customer Instead of monopolizing business, VinFast built a dealer system of two brands Chevrolet - VinFast This strategy helps VinFast save time, penetrate the market at the right time, save costs for system construction, choose locations… In addition, using an existing distribution channel helps VinFast continue Reaching customers faster, is an effective form of product marketing
The main distribution channel at VinFast's agent to consumers This direct channel helps the company save intermediary costs, directly contact customers and receive direct feedback from customers in order to improve the product and meet the requirements of consumers VinFast has built a website for a purchasing system under direct management, when consumers choose products, they will be directed to the nearest VinFast sales agents for advice and care
Distribution channel through showroom systems and distribution channels of partners that VinFast has acquired In addition to the above dealer system and showrooms, customers wishing to buy VinFast cars can buy goods at 15 VinFast showrooms at Vincom commercial centers nationwide This is a great advantage of VinFast compared to other car lines because of the strong support from Vingroup - the largest multi-industry group in Vietnam
VinFast plans to penetrate the world market On June 11, 2020, VinFast opened an office in Australia and recruited more experts from Lord, GM, etc This can be considered a great opportunity to expand the Vietnamese auto brand to reach the market international market and connect with global suppliers
In total, VinFast has 41 showroom systems nationwide and 20 VinFast automobile distribution agents (According to VinFast's homepage) VinFast's distribution system is considered to be the perfect, fastest and only one in the Vietnamese automobile market experts from Lord, GM…
OFFERS …
1 Associating with foreign car manufacturers
According to the report of the Vietnam Automobile Manufacturers Association, the sales volume of auto brands in 2020 in Vietnam: Hyundai is 81,368, Toyota is 70,692 vehicles, KIA is 39,180 vehicles, Mazda is 32,224 vehicles, VinFast is 29,458 vehicles Besides, luxury cars such as Mercedes-Benz, BWM, Lexus are the first choice of people with high income In the auto market, VinFast is a fairly new name and international car companies hold a fairly high market share in Vietnam This further emphasizes the extroverted preference of Vietnamese people Therefore, in addition to building a Vietnamese car brand, VinFast should also establish joint ventures with foreign automakers first, giving priority to partners in Southeast Asia so that they can enjoy tax incentives and trade policies, gradually dominate the market, improve competitiveness and affirm its position in the global value chain
In the case of VinFast, the auxiliary technology in Vietnam is very weak
Specifically, at present, the localization rate is only 7-10% This feature makes it even more difficult to produce a “Made in Vietnam” car It is possible to do so, but despite receiving many tax incentives, the first products of VinFast still have quite high prices
Hanoi An Phat Plastic Factory supplies plastic components for VinFast to manufacture cars and motorcycles But the localization rate is still low Therefore, to reduce pressure on components for production and lower production levels to increase competitiveness, VinFast should make the most of the impact on Vietnamese automobile manufacturers and assemblers In addition, increasing calls for foreign auto parts and components manufacturers to invest in Vietnam
3 Human resource training combined with advanced technology application
Recruiting experienced human resources in the industry, creating a favorable environment for workers to work hard
Improve the quality of human resources by establishing a VinFast training center, attracting domestic and foreign experts to work
Create conditions for workers to access advanced science and technology in the world to achieve efficiency at work
R&D is an important activity to achieve future growth and maintain a product that is trusted by consumers in the market Invest heavily in the R&D process so that it can shorten the time and quickly be on par with developed countries in a number of fields such as automobiles, electric vehicles, electronics, and smart technology
Invest in product research with more convenient features and modern technology to compete with competitors in the market
4 Take advantage of the prestigious quality and support of Vietnamese Products
Find all measures to improve sales efficiency, so VinFast needs to pay attention to advertising and product introduction to create brand impressions in the eyes of customers Promote communication through the company's Social Media channels.
Increase the trust, the influence of the car company in the mind, buying behavior of customers
Open quality surveys, consult with consumers to perfect the product and confirm that VinFast's quality is not inferior to imported products
Cooperate with famous faces loved by young people To increase people's familiarity and attention to the product
In addition, the government needs to continue to have policies to promote the development of the supporting industry, because this field plays a great supporting role in the development of the automobile industry and will create many jobs for society Along with that, there should be policies to encourage and support the private economy to invest in the fields of high technology application and research and development, application and transfer of advanced technologies
1 COB : Chairman of the board
1 VinFast: https://vi.wikipedia.org/wiki/VinFast
2 Chuỗi Giá Trị VinFast –Cách Mạng Ngành Ô Tô Việt Nam: https://vilas.edu.vn/chuoi-gia-tri- vinfast.html?fbclid=IwAR0lfrj_joLihDIl2EKJXqJN9JWT8YiHigFRiPxvM94LjZT 6S7BW61ipisY
3 Website VinFast: https://vinfastauto.com/vn_vi?fbclid=IwAR0xmjJIpXwMlE4mp75jI6- c0G5dsvNblz-98EFVffuqNXrhZ45iigqAtXQ
4 VinFast với hai mẫu xe tại triển lãm "Paris Motor Show 2018": https://nhandan.vn/tin-tuc-kinh-te/vinfast-voi-hai-mau-xe-tai-trien-lam-paris-motor- show-2018-336946
5 Vinfast đứng trên vai người khổng lồ và câu chuyện văn hóa doanh nghiệp thời CMCN 4.0: https://cafef.vn/vinfast-dung-tren-vai-nguoi-khong-lo-va-cau-chuyen- van-hoa-doanh-nghiep-thoi-cmcn-40-20181004165605088.chn
6 Những phân tích thú vị của Tạp chí ô tô danh tiếng Mỹ về VinFast: https://vov.vn/oto-xe-may/oto/nhung-phan-tich-thu-vi-cua-tap-chi-o-to-danh-tieng- my-ve-vinfast-820748.vov
7 VinFast chinh phục người Việt bằng dịch vụ chăm sóc khách hàng: https://vnexpress.net/vinfast-chinh-phuc-nguoi-viet-bang-dich-vu-cham-soc-khach- hang-4120512.html
8 Chiến lược Marketing Mix giúp Vinfast dẫn đầu 3 phân khúc ô tô: https://sage.edu.vn/blog/chien-luoc-marketing-mix-giup-vinfast-dan-dau-3-phan- khuc-o-to/
9 Xe VinFast cạnh tranh bằng giá hay chất lượng: https://tuoitre.vn/xe-vinfast- canh-tranh-bang-gia-hay-chat-luong-20181122152403006.htm
10 Độc và lạ: Khách hàng tự lái xe rời băng chuyền sản xuất ô tô VinFast: https://bnews.vn/doc-va-la-khach-hang-tu-lai-xe-roi-bang-chuyen-san-xuat-o-to- vinfast/129438.html
11 ASEAN: Thông tin Việt Nam Dân số: https://asean2020.vn/web/asean/dan- so#:~:text=(1)%20T%E1%BB%95ng%20s%E1%BB%91%20d%C3%A2n%20c% E1%BB%A7a,tr%C3%AAn%20th%E1%BA%BF%20gi%E1%BB%9Bi%5B1%5
12 Đánh giá xe VinFast: https://congngheict.com/danh-gia-xe-vinfast/
13 Đánh giá ô tô VinFast có tốt không, giá bao nhiêu, ưu nhược điểm: https://websosanh.vn/tin-tuc/danh-gia-o-to-vinfast-co-tot-khong-gia-c85-
14 VinFast đã và đang định vị thương hiệu như thế nào: https://dangkithuonghieu.org/vinfast-da-va-dang-dinh-vi-thuong-hieu-nhu-nao.html
15 Bảng giá xe VinFast 2021 cập nhật mới nhất tháng 7/2021: https://tinxe.vn/gia- xe-vinfast
16.Chiến lược khác người của VinFast https://vtc.vn/chien-luoc-khac-nguoi-cua- vinfast-ar556541.html
17 VinFast hợp tác với các nhà cung cấp trên toàncầu: https://vneconomy.vn/vinfast-hop-tac-voi-cac-nha-cung-cap-tren-toan- cau.htm?fbclid=IwAR3P2G5_i4AlTJNjv4ab8WEDR177DL_ujTkolsDZf1QuG_VW_ouMWMAlZ7I