report on vinfast 3 products grade english for business n02

Product………41.1 Overview of Vinfast products 3………41.2 Compare VinFast VF3 and Wuling HongGuang MiniEV Interior…...7... This creates a big advantage for VinFastVF3 when compared to Wuling

ECONOMICS AND BUSINESS DEPARTMENT

⸎⸎⸎⸎⸎

REPORT ON VINFAST 3 PRODUCTS

Grade: English for Business (N02)

Implementation team: 5A+

Lecturer: Ths Lương Hoàng Phương Thảo

Trần Thị Nhung 22012013 Nguyễn Xuân Đức 22011388 Bùi Thị Linh Chi 22011530 Nguyễn Thị Cẩm Ly 22012025 Ngô Quỳnh Hoa 22012243

HA NOI, SEPTEMBER 2023

TABLE OF CONTENTS

A.INTRODUCTION……… 3

B CONTENTS………4

1 Product………4

1.1 Overview of Vinfast products 3………4

1.2 Compare VinFast VF3 and Wuling HongGuang MiniEV Interior… 7

2 Price……… 8

2.1 Pricing strategy……….8

2.2 The 3K Content……… 10

2.3 Incentives for Car Purchase………10

3 Place……… 11

4 Promotion……… 13

4.1 Media Campaign……….13

4.2 Marketing Campaign……… 15

C.CONCLUDE……… 17

As an industry that came late to Vietnam, our country's auto industry is facing its first crossroads, with both opportunities and challenges Facing the current trend of increasingly strong international economic integration, Vingroup did not hesitate to become the first Vietnamese corporation to initiate the automobile and motorbike manufacturing industry when it was established Vinfast production and trading company limited

Since its birth in 2017, Vinfast has created a great reputation in the domestic and international automobile and motorbike markets From bringing the first Vietnamese-branded car to participate in the car exhibition in France to huge projects completed at lightning speed with an aggressive marketing strategy, Vinfast has been and is expected to change the world Changing the landscape of the automobile industry in Vietnam

Realizing the huge opportunity of the electric vehicle industry when the price of raw materials for traditional cars increases, Vinfast's advantage in developing electric vehicles, our group decided to choose the topic: "Building a communication plan for the product" Vinfast 3" electric car product With the desire to understand customers clearly, understand their needs and bring products to the public We have built a 4P model The 4P model is synthesized from 4 Ps which are: Product - Price - Place (Distribution channel) - Promotion (Marketing)

B CONTENTS

1 Product

1.1 Overview of Vinfast 3 products.

VF 3 belongs to the Mini car segment and is the first small car model researched and developed by VinFast based on the characteristics and traffic habits of domestic consumers

Vinfast 3 car image

1.1.1 About the exterior of the VF3:

The car has an overall length of about 3,114 mm, designed with 2 side doors and 1 rear trunk door The car body is compact but tall and sturdy thanks

to the installation of wheels up to 16 inches in size, creating large ground clearance, making it easy to move on many terrain conditions The exterior stands out with square, strong lines that remind viewers of an extremely hot car model, the Suzuki Jimny, with a bold off-road feel

In particular, the square headlights and rear view mirrors, and the stylized V-shaped bird logo on the front and rear bumpers are highlights that create a uniform design language, bringing a dynamic and impressive visual effect to the design overall design of the vehicle The exterior of the VF3 represents a

balance between sportiness and comfort, creating a strong and unique image on the street

The front of Vinfast 3 The rear area of the VF3 has square lines with the highlight being a stylized V-shaped metal strip, hugging the brand logo The entire rear bumper and around the license plate area are painted black, helping to complete the healthy, youthful and stylish beauty of Vinfast's completely new electric car model

The back of Vinfast 3

1.1.2 About the interior:

The parameters and equipment inside the interior compartment will be revealed immediately upon sale Interior space is enough for 5 people to sit The car does not have a central screen but only has an 8-inch touch screen located right behind the steering wheel Leather seats combined with fully integrated basic smart features ensure a comfortable and convenient experience for users With a combination of outstanding exterior design, unique details and comfortable interior space, VinFast VF3 offers an attractive choice for those who love a super small mini car with strong style and amenities

Interior image of Vinfast 3 car

1.1.3 About the VF3 car engine:

The operating performance of the electric motor and battery on the VF3 car meets the needs and daily usage habits of the majority of Vietnamese people It can travel a maximum distance of 285 km and accelerate from 0-100km/h in less than 12 seconds This creates a big advantage for VinFast VF3 when compared to Wuling Hongguang MiniEV, which can only travel a maximum of 120 km per charge

With outstanding advantages such as no emissions, no noise, environmental friendliness and especially high safety, VF3 can completely become the new "national car" of Vietnamese people, contributing to realizing the "car dream" of millions of families, improving the quality of life and creating a strong driving force for the popularization of electric cars in Vietnam With VF3, VinFast continues to firmly affirm its position as the electric vehicle company with the most diverse product line in the global electric vehicle market

1.2 Compare VinFast VF3 and Wuling HongGuang MiniEV

1.2.1 Interior

Image of VinFast VF3 and Wuling HongGuang MiniEV

The interior of the Wuling HongGuang MiniEV has a simpler design than the VF 3 The car is equipped with a screen behind the steering wheel and the steering wheel does not have integrated buttons The chair is covered with felt and designed to fit 4 people

Interior photos of 2 cars

1.2.2 Charging system

Charger of VinFast VF3: Currently, VinFast is a domestic car company that develops a large number of charging stations, up to 150,000 charging ports VinFast VF 3 took advantage of VinFast's charging station infrastructure, allowing the car to easily go long distances despite being a small car This brings convenience and flexibility to car owners, ensuring that they can charge their vehicles easily on pre-built VinFast charging stations In addition, it is

possible that the VF3 can also be charged at home, making it convenient for users to charge the car at their own residence

Charging of Wuling HongGuang MiniEV: In contrast to the VF3, the Wuling HongGuang MiniEV only has a way to charge at home, limiting the ability to charge the car outside This makes MiniEV only suitable for short travel needs and does not require long distances

2 Price

2.1 Pricing strategy

For every new car model introduced to the public, the most critical factor

is not just the design but, most importantly, the price of the vehicle This holds particularly true for the VinFast VF3, which is considered "affordable" compared to previously launched electric car models Therefore, the official selling price of the VF3 has become the most hotly debated topic

During today's launch event for the VinFast VF3, we are pleased to announce that the official selling price of the vehicle will range from 250-300 million VND for the two versions: VF3 ECO and VF3 PLUS This pricing is affordable for the majority of the population, offering convenience and smart features to users As expected, the vehicle will be available for pre-order starting in September 2023, with deliveries scheduled for the third quarter of 2024

Comparing the VF3's price to that of the Wuling Hongguang Mini EV, which was also introduced in June with prices ranging from 239-301 million VND, the VF3 appears to be slightly higher in price However, when considering the VF3's eye-catching design, resembling a compact SUV, it offers more value for the money The VF3 stands out with its stylish 5-spoke alloy wheels, 16-inch in size, and it comes in various colors to appeal to a younger and more fashionable audience The interior is straightforward, seating five people, making it suitable for family use, and features a touchscreen, leather seats, and other basic amenities Moreover, one of the advantages of VinFast electric vehicles is the integration of numerous safety features that are often lacking in other models in the same price range or segment

On the other hand, the Wuling Hongguang Mini EV, a product of China, has a boxy design similar to Japanese keicars Its square-shaped body is functional, optimizing interior space with four seats The standard and upgraded

versions of this car have different equipment levels, including a 7-inch LCD screen and various basic features The upgraded version adds a rearview camera and an airbag

Vinfast 3 image at the exhibition, Hanoi

2.2 The 3K Content

With numerous advantages such as low emissions, no noise, and environmental friendliness, the VinFast VF3 could become the "national car" for the Vietnamese people To encourage customers to embrace and use environmentally friendly vehicles, VinFast has adopted the "3K policy" for all its electric vehicle products This policy aims to provide conditions for a wide range of customers to access high-tech products at the most reasonable prices, promoting the use of "green" vehicles and offering many benefits to customers Specifically, VinFast will not charge depreciation expenses, financial costs (interest payments on loans for factory construction, working capital, etc.), and interest rates

2.3 Incentives for Car Purchase

- Incentive policies for customers placing the first orders and customers opting for installment payments:

The government provides a 100% reduction in registration tax for electric cars, applicable for three years from March 1, 2022 VinFast can offer special insurance and maintenance packages for electric car models

Customers can choose to purchase vehicles with a "fixed interest rate for the first year or the first two years." Customers will be supported with a fixed preferential interest rate for either the first 12 or 24 months, depending on their preference This preferential interest rate is sponsored by VinFast's reputable banking partners Under this program, customers are only required to pay 20%

of the vehicle's value upfront and can choose a minimum loan term of 12 months and a maximum term of 96 months

In addition to the price reduction, there are many special incentive policies for VinFast car buyers, such as:

● A 10-year or 200,000 km vehicle warranty

● Free 24/7 roadside assistance during the vehicle's warranty period

● An "Vinhomes Voucher - Elite Class" promotion

Thanks to these substantial incentives for car purchase, as well as the straightforward and highly advantageous VinFast car loan process, owning Vietnam's own premium brand vehicles is no longer a distant dream for many Vietnamese consumers

- Promotion Policies for Vehicle Pickup:

● Receive a Vinhomes Voucher (non-identifiable) worth 70 million VND

● Receive a smart driving assistance package worth 30,000,000 VND (a technology that provides support for the driver while sitting in the car

● The system uses ultrasound and other sensors to detect obstacles around the car When an obstacle, person, or animal is detected within a certain distance, the system will send a warning to the driver)

● Get a combo package including a genuine car cover, genuine leather steering wheel cover, genuine car fragrance, and a genuine sunshade

3 Place

- Acquiring another VF3 distribution channel :

VinFast Company signed a cooperation contract with General Motors (GM) This gives Vinfast full rights to use GM's manufacturing plant, sales

agent system and customer care system This strategy helps VinFast in general and Vinfast VF3 in particular penetrate the market more easily, save time while still owning a powerful distribution system of their

- Build a widespread VF3 distribution system:

Vinfast quickly acquired the entire distribution system of Chevrolet Vietnam right before launching the VF3 model Currently, VinFast has a system

of 242 distributors and 83 agents covering 63 provinces and cities nationwide

Map of distribution and retail stores of Vinfast car company.

VinFast also has many commercial centers available to display VF3 VinFast also quickly approached and invited units and individuals distributing other car brands such as Ford, Mazda, Suzuki, Kia, Honda to participate in distributing their car brands In addition, VinFast also plans to expand its market

to North America, Europe, Australia…

The batch of VinFast VF 8 cars exported was 999 units for the US market and was transported by Panama's private charter ship Silver Queen

- Set up VF3 distribution channels:

Level 0 distribution channel: Helps VinFast VF3 not need to go through distribution intermediaries but only use the distribution system at the company's main dealer to carry out work to bring products and product ownership closer than with the final consumer In addition, VinFast has deployed the VF3 online business solution through the company's websites and fanpage to help customers deposit products as well as provide other services and consulting Level 1 distribution channel: VinFast has chosen the wholesale form and level 1 distribution channel This means that VF3 will go directly to customers, only through the intermediary of a single distributor and without distributors This choice helps VinFast avoid unnecessary conflicts in the distribution channel

- Contracts with other VF3 distribution channels:

VinFast cooperates with Savico - such a large retail unit that will help the brand take a big step forward on the path of expanding its brand nationwide With the outstanding growth of VinFast along with the outstanding product VF3, Phongsubthavy Group has agreed and signed to become the exclusive distribution partner of VinFast cars in the Lao market

- Select VF3 distribution channel partners Includes criteria:

· Prioritize agents with convenient locations for easy access by customers

· Dealers must have a car showroom with an area of over 200 square meters

· Cooperation policy with experienced distributors

· Based on financial and tax reports within 3 years to approve distributor becomes a partner

4 Promotion

4.1 Media Campaign

Vinfast has applied a comprehensive communication strategy, and

"strikes strongly on all fronts" In particular, social media strategies have exploded targeting social media at home and abroad, where most people are using Vinfast's explosive media effect when it "teased" a series of forms The company's videos have impressed massive attention on social media VF3

products have appeared a lot on media sites from Facebook, Instagram, Tiktok,

VF3 at the exhibition "VinFast For a green future" Ho Chi Minh City -Facebook.

VF3 at the exhibition"VinFast - For a green future" Ho Chi Minh City - Tiktok.

The exhibition "VinFast - For a green future" is the largest electric vehicle event ever in Vietnam, with a scale of up to 12 locations in 11 provinces and cities within 72 days (from July 7 to September 17, 2023) including: Hanoi, Hai Phong, Phu Tho, Nghe An, Ha Tinh, Da Nang, Nha Trang, Bien Hoa, Binh Duong, Ho Chi Minh City City, Can Tho