Marketing Analysis For Vinfast

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Marketing analysis and proposal for Vinfast Vfe34
Corporate Finance (Học viện Ngân hàng)
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lOMoARcPSD|14008902

lOMoARcPSD|14008902

lOMoARcPSD|14008902

lOMoARcPSD|14008902

lOMoARcPSD|14008902

lOMoARcPSD|14008902
I. Excutive summary
VinFast is that the first automobile manufacturer within the Vietnamese market,
and it's a part of Vingroup, Vietnam's largest corp and one among the country's major
technology, industry, and repair conglomerates. Up to now, Vinfast cars are produced
with 4 car models including Vinfast Fadil, Vinfast Lux SA2.0, Vinfast Lux A2.0,
Vinfast president, and therefore the company plans to launch a brand new line which
is an electrical car under the name VFE34. The thing that drives this creativity
is because of the most impact of environmental factors when the planet is facing
significant temperature change year by year. additionally, the corporate also wants to
extend competition with other giants like Tesla, Hyundai and catch up with the trend
of the car manufacturing industry. This marketing plan includes the marketing audit,
objectives, 7P marketing mix, action plan, budget allocation, control and monitor
measures, detailed media plan,…. To clarify, this report can help Vinfast identify the
target customers, competitors, USP; besides, it also assists the corporate in
developing an idea for marketing the brand and increasing sales or income for the
corporate. It also gives Vinfast information about the market, ideal clients, and the
way to interact them effectively. Moreover, it can help the corporate to cut back risks
with the new product launch as VFe34. This marketing plan is implemented during
a time-frame of 1 year from 1/1/2022-31/12/2022 with 7 070 136 179 VND
II. Marketing audit

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1. External analysis
1.1 Macro-environment (PESTLE)
Factors In Vietnam market Implication for Vinfast

Political  Polical  In South East Asia, Vietnam is one of the
 (O)Creating circumstances
stability most politically stable countries. (Gov.UK,
that will allow Vinfast to
2021)
improve circulation and
manufacturing processes
while maintaining a reliable
supply chain. Besides, it also
presents that Vinfast could
have a great foundation to
make the business progress.

Economic  GDP growth  Despite the COVID-19 epidemic,  (O) stimulate the purchase
 Citizen’s Vietnam's economy is expected to rise at demand of consumers,
income 2.9 percent in 2020 (it increased at 7% in thereby helping the company
 Economic 2019). The country is rated 38th in the increase sales as well as
openness world and 4th in the Association of revenue
 Inflation Southeast Asian Nations.  (O) create conditions for the
 Economic  The income of people from stable and company to import raw
recession emerging economic zones is increasing materials from abroad
day by day. As a result, their spending  (T) Company have to cost a
power also increases. lot of money in the

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 Vietnam is a country with a relatively high production process.
economic openness  (T) Not only does this lower
 The manufacturing and processing price the number of buyers, but it
index rose 4.97 percent. (Luu, 2021) also reduces the company's
 Economic Recession: this is the income.
consequence of the Covid 19 epidemic.
Buyers' purchasing power is being eroded
as they are forced to be more frugal with
their money.
Social  Covid  On January 1, the Ministry of Health  (T) The restriction of travel
pandemic announced that there were 14,822 Covid- causes the demand to buy
 Buying 19 cases, of which 216 died; 5 more cases cars to decrease, thereby
habit of Omicron (VnExpress, 2021) causing Vinfast to decrease
 Education  Buying habit “Vietnamese people use in revenue
growth Vietnamese product”  (O) Consumers are more
 Vietnam's education system is currently inclined to utilize private
expanding, providing a potentially rich vehicles rather than public
people resource in addition to a team of transportation such as buses
human resources from returning foreign and trams because they are
students.(World Bank,2019) conscious of social
separation. As a result,
Vinfast will be able to
improve both automobile

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sales and profit.
 (O)Vinfast has created
reditbility in the Vietnamese
buyer's perspective with the
automobile "made in
Vietnam."
 (O)Create a large pool of
high-quality human
resources for Vinfast.

Technology  E-  The average growth rate of e-commerce in  (O) Creating circumstances
commerce the period 2016-2019 is about 30% for Vinfast to extend its retail
 Digital following a report by the VECOM and online sales techniques,
marketing (Vnexpress, 2021) making it easier for
 Technology  Digital marketing is considered a way to customers to approach them
advertise items that businesses are looking and increasing income.
for as the digital technology era  (O) It is an opportunity to
progresses. advertise products more
 Automobile manufacturers are easily, in order to improve
incorporating new technology into their brand awareness in the
manufacturing processes, such as perception of customers.
automation, artificial intelligence, and Besides, it also is a chance
augmented reality. to accquire and apply new
technologies in company’s

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product to keep pace with
competitors.
 (T) To produce a car, modern
technologies must be
acquired from overseas,
which quite hard for Vinfast
to purchase modern
equipment and necessitating
a significant financial
investment.
Legal  Tax  The Vietnamese government has tax  (O) Making it easier for
 Safety incentives for imported components from Vinfast to import
regulation domestically assembled companies components and reduce
 Reduce the  The government has issued regulations production costs as well as
number of regarding the production of auto parts to increase profits
gas cars in ensure the safety of passengers  (T) Vinfast must spend a lot
urban areas  Vietnam government annouced that of time and money on testing
automobiles will be limited in inner city to before launching
advoid traffic congestion and reduce  (T) As the number of people
carbon emissions. driving gas cars declines,
Vinfast's sales will decline.
 (O) It is an opportunity to
lauch electronic car
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Environmen  Gas  Transportation accounts for 24.34 percent  (O) for Vinfast to
tal emissions of annual carbon emissions. Cars account diversification car lines
for 44% of the total. (Ministry of natural especially electronic car
resources and environment. 2020)  (T) Vinfast must concentrate
on lowering carbon
emissions in the
manufacturing process,
which is costly.
1.2 Micro-environment
Competitive rivalry High (T) Because Vinfast is the new company joined in the vehicle
market, particularly in Vietnam, so it must compete against
numerous established heavyweights such as Hyundai,
Toyota, and Tesla.
(T)Vinfast and its rivals provide items that are comparable. Honda
and Toyota are equal to VinFast in terms of pricing and quality. It
has a high degree of brand recognition, and many buyers choose it
since it has been on the market for so long.

Buyer power Low (T)There are currently numerous automobile manufacturers on the
market with varying pricing, giving buyers a wide range of options
when it comes to purchasing based on price and quality criteria.
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(O) As a penetrate, Vinfast might provide an appealing pricing.
(O) With the increase in the awareness of polution, citizen tends to
choose a car with friendly characters. Taking advantage of this
opportunity, Vinfast can produce an eco-friendly Vietnam brand car.

Supplier power Low (O) Because Vinfast is a VinGroup affiliate, it is easy for the firm to
obtain credit sources in a wide range of countries.

Threat of substitution High (T)Besides using cars, people can use other types of vehicles such
as taxis, buses, or motorbikes for more convenience.
(T)If an E-car is too expensive for a consumer, they can opt for
another mode of transportation, such as a bicycle or an electric
motorbike.
Threat of new entrant Low (O) Because the vehicle manufacturing sector is challenging and
competitive, only Vingroup has the potential to compete in it
in the Vietnamese market, aside from international
corporations.
2. Internal analysis
2.1. Internal factors
Strategy - Vinfast's vision is to design automobiles (S) Clear strategy with measurable
with Vietnamese features that reflect the goal
country while still being competitive on a (S) Customer oriented mision so that can
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worldwide scale. satisfy customer and promote the
- Vinfast's aim is to improve the lives of Vietnamese buying psychology of
Vietnamese people; consumers.
- Customers in the high-middle income (S)Suitable customer target to get profit
bracket who are want to acquire world-class as a new entrant
autos at a affordable price are the
company's target.
Productivity - Despite the COVID-19 pandemic, VinFast (S) A successful sale to boost brand
revealed its automobile business statistics recognition, particularly during the Covid
for September 2021 on the afternoon of time.
October 11, with total sales of 3,497 Lux (S) Can meet the demands of a large
and Fadil cars sold, an increase of 51.4 number of target clients.
percent over the previous month.
- Vinfast offers a wide range of products
and services.
System -For Vinfast’s distribution, company has  (S) develop a robust distribution
applied hybrid and 3S method. system with high quality in order to
satisfy customers
 (W) limit the company's distribution
expansion.
Intangible value In Vietnam, the government has a  (S) It easy to realize that these
preferential policy for automobile intangible values not only assist the
manufacturers. Besides, company already firm in the product development
has a good brand reputation and existing process but also increase brand
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cutomers’ data from Vingroup. Last but not recognition and consumer trust.
least, Vingroup has it own website as well. Moreover it can establish a long-term
relationship with old and new
consumers
Tangible value Vingroup is well known with the ecosystem  (S) So that, it create suitable place for
which is advantage for the expansion of Vinfast to expand its distribution and
Vinfast. As a result, company has its own easier in selling process as well as
76 showrooms in Vietnam and produce personerlize customer service. As a
products with high quality. result, company can compete with
competitors.
2.2 Current marketing mix
Product - Vinfast is recognized for its image as a brand linked  (S) Satisfy customers’ needs so that
with high-quality items in a variety of styles, such as can increase the demand of customers
Vinast Lux, Vinfast Fadil, buses, and so on. Two about the brand.
Italian designers are responsible for all of it. With a 10-  (S) Help customers to have a deeply
year guarantee and maintenance, the products ensure understand about products so they do
user safety. Furthermore, the organization offers a 24- not have any confusion when
hour support service to assist customers in the process purchasing.
of buying a car and to answer problems they may have.  (S) Meet the demand of product so
that can create credit in customers’
perception.
Price - Penetration pricing is a price strategy that is ideal for  (S) With this strategy, company can
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firms launching new products or services in order to attract customers’ attention with the
grab customer attention and put pressure on rivals. At high quality product and suitable
first, the market entrance price is unimportant to profit, price. Which help company to raise
but it will attract potential clients to the business, and brand awareness or even market
later, the company will raise the price to solidify its share. Besides, it can have the
market position. competive edge with company’s
competition and get the profit in the
latter of period.
 (W) It can be said that this pricing
strategy still have a downside when
the company can not gain profit in
the start period. In case this sistuation
persists, Vinfast can get loss in it
revenue.
Promotion - To promote and attract customers, Vinfast has created  (S)With these focused service
incentives by allowing Vinfast's cars to park for free at approaches, the firm will please
locations and ecosystems owned by Vingroup. In clients while also drawing loyal
addition, company also offers some gift vouchers and customers, increasing their trust and
coupons when buying cars. affection for the brand, and even
- For the purpose of promoting products closer to beginning to utilize word of mouth to
customers, the company first used some famous promote the company's products.
influencers such as Tieu Vy, David Beckam,....  (S) The corporation may attract more
Furthermore, Vinfast not only promotes advertising on fans of those influencers to its brand
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social media sites, newspapers, and television, but also by using influencers, such as David
produces several campaigns to attract clients. Beckham for football fans and Tieu
Vy for Miss Vietnam fans.
Furthermore, by utilizing a number of
methods to express the brand's image
on social media, billboards, and
newspapers, customers, particularly
vehicle enthusiasts, will become
more aware of the brand.

Place - Vinfast selling not only on it showroom but also  (W) With the 3S distribution strategy,
through dealers which are meet the demand of 3S company can face to the difficult in
distribution. Besides, company has it own website to reach more customers. and company
update product’s information to customers. has not selling online
 (S) In other hand, the 3S distribution
strategy can help the company meet
the demnad of product’s quality. This
will pleasure customers.

People  Vinfast employees are only recruited when they  (S) As can be seen that these factors
meet the requirements such as professionalism and can improve the company servie ,
skillfulness. Besides, company has Management satisfy customer during purching
team and designers come from abroad to ensure process. Contributing to creating
product quality. trendy products of good quality. As a
result, it will increase the brand’s
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reputation.
Process  To find and buy a car, look for vehicle purchasing  (S) Customers can enjoy the car
instructions in showrooms or use Vinfast's buying process, compare models
website. After that, customers should go directly directly and experience the product in
to the showroom to pay for the product with the most authentic way.
diverse methods.  (W) Can cause some cases đủing the
Covid pandemic due to the meeting
directly.
Physical - Vinfast has a fairly large sales scale stretching from  (S) Diversify physical location which
evidence North to South with 76 showrooms is more convenient for customer to
- In addition, there is a private parking area for Vinfast purchase. Moreover it make the
cars and it is impossible not to mention the diversity satisfaction about the aesthetic needs
and beauty of Vinfast cars. of consumers
3. SWOT analysis
Strengths: Weaknesses:
Vinfast has its own a positive brand However, Vinfast is still not a well-
image - this is undeniable. To contribute known company in the car industry and
this reputation, company has a dense and has some deficiencies compared to
quality dealer network. Besides, Vinfast competitors such as technology,
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tend to sell products has high quality but marketing.
reasonable price. Last but not least, it also
has the extensive financial resouces.

Opportunities: Threats:
Respondign to the digital transformation, Vietnam is not a country specializing in
company should selling on the e-comerce automobile production, so Vietnam's auto
for customers easier to buy especially in auxiliary industry is still limited. Besides,
the Covid pandemic. the expansion of the market is also a
Besides, when the pollution is warning dilemma that the company needs to solve.
compnay should diversify product Moreover, company has to face to the
especially with electronic car line threat of competition from big giants such
as Tesla, Hyundai, Toyota,…
Consequently, the more choices, the more
power the buyer has, and the company
will also have to deal with this problem.
III. Marketing proposal
1. Marketing objective
 Selling 4000 electric cars in Vietnam from 1/1/2022 to 31/12/2022
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 Increase awareness of VFe34 as a high quality and medium price by 55% by
30/11/2022
 Completing the construction of 450 charging stations in 64 provinces of Vietnam
by December 31, 2022.
2. STP strategy
 Segmentation and target
- Psychologycal segmentation: people have eco-enviroment lifestyle. Because this car
is aim for eco-enviroment character so that it suitable for this type of psychologycal
segmentation
- Behavioural segmentation: customers with purchasing habit “Vietnamese people use
Vietnamese goods”. This is due to the fact that some cutomers are faithful clients of
the Vietnamese product, they try to support domestic product as possible.
- Demographic segmentation: high-income. Because the price of a Vinfast car is said
to be 600 million VND, the average car buyer must have an income of about 40-50
million VND a month to be able to buy a car in one year.
3. Position strategy:
 USP: In case you can not control your electric car in English fluency, Vin cars
will assist you.
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 Positioning message: Because the customer that Vinfast wants to target at this
time is Vietnamese. Understanding the psychology and obstacles of Vietnamese
customers when using foreign cars is that quite a few customers can control the
car in a foreign language, so Vinfast wants to aim for a local language, easy to use
in the domestic market. Control process for Vietnamese consumers.
4. Product
 According to Ansoff Matrix, the electric car is a new product in the Vietnamese
market as well as in the Vinfast manufacturing process , therefore VFe34 is a
diversification strategy. Even when method is deemed high-risk, it is appropriate
for Vinfast in the future in order to comply with environmental regulations (ban
gasoline cars from circulating in the inner city by 2025). Vinfast is also a
subsidiary of Vingroup, therefore it has the necessary means and financial resouce
to carry out this strategy.
 Core benefits: personal transportation, eco-enviroment product
 Generic product: electric car
 Expected product:
When buying VFe34, customers can experience a car can travel 400km per
charge, can connect to Apple card and Androi auto for controlling. About the
entertainment screen and information screen, the car has parameters are 9.5inch and
8inch, respectively. To meet the safety of user when driving, the producer created the
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safety and driver assistance features such as obstruction notification, charging
notification, maintenance schedule and automatically call for help in case of
emergency. Last but not least, VFe34 model has a trendy and luxury design which is
satissfy buyer.
 Augmented product:
In order to create a highlight for Vietnamese customers, VFe34 has added support for
voice control in Vietnamese and support for car battery rental. Besides, Vinfast also
offers free Vinfast parking in areas under Vingroup such as Vinpearl, Vinhome.
Moreover, it is a preference during charging at Vinfast's charging stations: Vinfast's
cars will be given priority to be charged first compared to other car brands.
 Potential product:
To entice customer loyalty, Vinfast offers customers a 10-year warranty, along with a
policy of exchanging old for new, exchanging gas cars for electric cars to promote the
purchase mpre electric cars.
5. Price
 Pricing strategy: Because Vinfast is a new entrant in the auto industry and
especially in the production of electric cars. Therefore, its reliability is not as
great as that of companies with long-standing foundations such as Tesla,
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Hyundai. Therefore, Vinfast's VFe34 will apply a penetration pricing strategy to
create the impression of a high-quality low-cost product of a new entrant in order
to improve the brand's influence and market share. Then will raise the price to a
competitive level to get better profit.
 The starting price of Vinfast electric cars is VND 600 million. This is a low price
for electric cars compared to competitors like Tesla with 1.65 billion VND.
However, after selling 400 cars and increasing 10% of the market share to raise
consumer awareness, the price of Vinfast electric cars will increase to 900 million
VND in order to generate profits for the company and increase its
competitiveness. compete on price with other competitors.
 In order raising price without ticking off company’s customers, Vinfast can
provide free car charging service within 1 year.
6. Place:
 Vinfast should apply the hybrid distribution structure which means not only
having showrooms and a website but also having a dealer as what the company is
doing with gasoline cars
 Using a direct-distribution with 55 showrooms global, and 57 service workshops,
including 16 VinFast Chevrolet points, and through website Vinfastauto.com.
Besides, it also uses an indirect distribution with 30 authorized dealers, in order to
select reputable dealers for themselves, Vinfast has used 3S: 1S (Sales); 2S
(Selling Services and Parts) and 3S (Sales and Supplying Services and Parts) to
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increase coverage and convenience for consumers. Vin dealers must fully meet
the requirements in terms of area, service and design, thereby improving
customer experience, increasing credibility, contributing to market penetration
and increasing market share in Vietnam as well as internationally.
 However, with the influence of the Covid pandemic as well as the development of
technology, online shopping is now a suitable trend in this context. Therefore,
Vinfast should have a separate platform for its company to serve online sales.
7. Promotion
 Target audience: Focus on Vietnamese people's psychology to use Vietnamese
goods and want to protect environment
 Planned marketing
Advertising - Using digital marketing: by working with third-party influencers to
promote the electric car on social media such as Instagram, Facebook,
Youtube. For example, model Chau Bui, she participated in the campaign as
well as the "No, Thanks" song to call on young people to protect the
environment.
- Using print marketing such as Tien Phong, VN express.
- Using TV marketing such as appearing on news, interviews and
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Vietnamese movies.
- Outdoor: Time square at big cities, bus station.
Sale - 3-zero price policy on the first day of launch
promotion
- Reduce cost when charging in charge station
-- 10% discount when paying in full
- no interest for the first two years for instalment customers
Direct - Using email marketing by getting the users’ data through banking or using
marketing cloud computing to get it easily through the social media. Then, by creating a
tailored client experience, With an example subject line: "Hoang Anh, a
special offer only for you," setting up company emails and subject lines to
include the recipient's name is a proven approach to enhance open and click-
through rates.
Public - Open auto shows so that Vietnamese people may recognize the brand image
relation in the most genuine way possible.
- Participate in the Motor Show - which aids in the creation of brand
awareness and image for electric vehicles.
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- Creating a social campaign with many celebrities participating such as
Quang Đại, Trang Hí.
Personal - Increase the calling rate to customers to ensure customer service with a
selling strategy of 40% division for current customers and 60% for potential
customers.
- 24/7 online consulting team
- The team of consultants when buying directly is enthusiastic, friendly and
ensures an understanding of the function and structure of the product.
 Unplanned marketing:
- Understanding the psychology of Vietnamese consumers with "made in Vietnam"
products, the company should focus on communication on social networking sites
especially in the loving car group, forum,... The amount of seeding on social networks
could get positive feedback or not based on customer perception.
- Offer some promo codes when buying Vingroup products to promote word of
mouth. Such as free car charger 2 times when posting comments about Vinfast
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electric cars. Give a reward worth 1 million to customers when successfully
marketing 1 other person to buy an electric car.
8. People
 Training corporate customer service personnel: since being able to deliver
outstanding customer care to clients may be considered as a differentiating
element from the competition. As a result, businesses spend to train their
customer support representatives. This should include both the technical and
human elements of the position. This implies that they should be well-versed in
the details of their products and services. At the same time, they must have
personality and truly care about their consumers.
 Staff design and write website content: Because the company is expanding its
online sales, it needs to meet the needs of consumers when buying online. At the
same time, attract customers through reputable, sympathetic and attractive
articles.
 Should give incentives to its sales team in the form of bonuses for hitting
objectives or commissions on sales.
 Making a commitment of what have to and must to not do in the service for the
employees
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9. Process strategy
 Offline:
- Ensure that its products are always accessible to dealers and that procedures are in
place to alert dealers when inventory levels are low. This guarantees that clients have
access to things whenever they need them.
- Having an electronic point of sale that scans phones during checkout
- Use sterilization equipment, measure body temperature to ensure safety during the
purchase process
 Online:
- Has an online delivery process in which orders are accepted in a computer system,
and the appropriate product from the inventory is dispatched to the delivery service
provider based on these orders. The purchaser may then pick up the automobile in
three days. Customers can also pay with a variety of credit cards and e-wallets.
- Hotline to support opens 24/7
10. Physical evidence
- In terms of offline sales, Vinfast should speed up the installation of power charging
stations, which are placed on both roads and boulevards and are scattered over 63
provinces. There will be experts and customer service representatives available 24
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hours a day, seven days a week. Furthermore, the showroom will expand from 74 to
86 locations, with a focus on building mostly in large cities.
- In terms of selling online, Vinfast will design a website that is appealing to the eye,
simple to navigate, and secure with an SSL certificate (Secure sockets layer). It also
has a comment section that allows users to leave feedback on the company's products
and services.
- Invoices are well-designed and have a distinct personality.
11. Action plan
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12. Budget location
Ps Activities Price Explain References
Product 40% excise tax 285,5 Following the tax regulation
Million
VND
10% VAT 126,6 Following the tax regulation
Million Pham (2019)
VND
Product’s cost 371,6 materials, transportation,
Million production, warranty,
VND storage, sales, management
Place Land tax payable tax amount = Nhadatlongbien (2020)
356 882 incurred tax amount -
179 VND exemption amount
Set up website 20 000 Hiring staff to design web, N/A
000 VND buy website domain name,
Promotio Digtal marketing vs 30000 662 000 22.080VNĐ for 1000 views Nguyen (2021)
n views VND
Hiring influencer Châu Bùi 100 000 about 46 000 000 for 1 post Lan (2019)
000 VND
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Posting 1 post on 50 000 50 000 000 VND for 1 car Brandcom (2021)
Vnexpress 000 VND advertisement post
Advertisement at bus stops 620 892 275,940,000 VND for Sixth sense media (2022)
in Hanoi and Ho Chi Minh 000 VND Hanoi bus station and 344
City 952 000 VND for HCMC
bus station for 1 year
Open auto show 500 000 appointed N/A
000 VND
People Cost of training consultants 800 000 appointed N/A
000 VND
Hiring design cost 900 000 appointed N/A
000 VND
The cost of hiring blog and 9 000 000 3 000 000 VND/ 1 post. BICT (2022)
website writers VND Write 3 post
Cost of hiring staff on duty 500 000 appointed N/A
at the charging station 000
Process Deliver cost 7 000 000 appointed N/A
VND
Physical Building charge station 3 000 000 appointed N/A
evicende 000 VND
13. Measures for monitoring and controlling
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Factors Metrics
Sales Selling 1,500 cars per 3 months
Online revenue Selling 600 cars though online to get
online revenue contribution per 3 months

Product awareness Finding form customer research, susrvey
Cost effectiveness of marketing ROMI = revenue- marketing
investment expense/marketing expense
IV. Media plan
1. Media objective
Overall goals: To sell 4000 electric automobiles in Vietnam from January 1, 2022 to
December 31, 2022, we opted to prioritize reach over frequency. According to the
Ostrow Model, the overall reach of the media strategy will be 60-75 (70), with a
frequency of 3 (moderate).
Detail objectives for digital media:
Metrics Objectives
Ad impressions Ad impressions 33.334/5%= 666.680
Digital media cost 10 Billion

Click-through rate 5%
Site conversation Clicks 10.000/30%= 33.334
Cost-per-click (CPC) 10.000.000.000 / 33.334 =
299.994
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Conversion rate (click to 30%
quote)
Lead conversion rate Opportunity response 3600/35%= 10.000
Cost-per-opportunity 10.000.000.000 / 10.000 =
(CPO) 1.000.000
Conversion rate 35%
(opportunity to sale)
Number of outcomes Sales Sale 3600 cars
Cost-per-sale (CPS) 10.000.000.000 / 3600 =
2.777.778
2. Campaign insight
Finding strong insights is critical to the success of campaigns in the advertising sector.
An insight is a genuine consumer epiphany. Find out why your target consumers
believe the way they do, act the way they do, and feel the way they do. And improve
on it so that it can adapt to real-world demands.
a) Buyer decision making process:
i. Need recognition:
Customers realize the need to buy a car from life needs such as being away from home,
weather factors (cold weather, rainy weather), or due to external influences such
as advertising, news (about Covid 19, air pollution and ts effects on health),
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word-of mouth. From there, realize the necessity of buying a car, especially an
electric car
ii. In formation search:
Customer can find the car information from:
 Internal : Memory and Experience
 Friends and Family,
 Magazines, social media. Love car forum
 From famous reviewer in social media
 Join discussion network such as Quora, Digg
iii. Evaluate altenatives
 Customers can compare cars through any reference source (such as youth
newspapers, car prices.vn, toplist.vn, giaxetot.vn...)
iv. Purchase and post-purchase decision
 Customer can booking online through website and review product on its post to
get promo-code.
b) Tendency of using social metwwork nowadays
i. Using tiktok to advertise products when there has 39,65 million user mark in
September 2021 - a potential audience fo brands to approach (wearesocial, 2021)
ii. Social commerce - Up to now, Vietnam with more than 72 million people
(accounting for more than 73.3% of the total population) uses social networks
such as IG, FB, Tiktok, ... to search for products and brands.. (Tuyet, 2021)
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iii. Video content is dominant when it estimeted that 82% of all online content will be
video content in 2022.
c, How other companies using social network site:
 Tesla has used social media especially with video content beyond Youtube, Face
book and Tiktok to advertise product.
 Hyundai's Facebook profiles are used for marketing, promotions, consumer
involvement, and customer care. Hyundai was also included in the Disney
Channel's Marvel series to advertise the product. As a result, Marvel and Disney
fans in general will be attracted.
3. Segmentation and targeting
Segmentation variable Target audience

Relationship with Existing customer with policy of exchanging petrol cars for
company electric cars and new customer as the VFe34 is a new
product on the car market

Demographic high-income. Because the price of a Vinfast car is said to be
segmentation 600 million VND, the average car buyer must have an
income of about 40-50 million VND a month to be able to
buy a car in one year.

Psychographic of
People who have a lifestyle that protects the environment
attitudinal segmentation
Because consumers when buying a car - a long-term
attachment will have to face high risks such as cost, quality,
... Therefore, they will be careful in the search process.
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product information. Taking advantage of this opportunity,
the company should coordinate many media plans to bring
information to customers in the most thorough way.

Behaviour Customers tend to receive video information through
channels such as VTV (from 7-8 hours), Tiktok, Facebook,
Youtube.
Radio related to VOV traffic, people with high income or
traveling - or reading magazines about business, fashion on
the plane,
4. Content marketing
i. Message
 USP: In case you can not control your car in English fluency, Vin - the first
generation of eclectric car in VN will assist you.
 Positioning message: Because the customer that Vinfast wants to target at this
time is Vietnamese. Understanding the psychology and obstacles of Vietnamese
customers when using foreign cars is that quite a few customers can control the
car in a foreign language, so Vinfast wants to aim for a local language, easy to use
in the domestic market. Control process for Vietnamese consumers.
ii. The tone of campaign will be fresh, inspirational, impressive and proud of
Vietnamese products
iii. Slogan: VFe34 - your future environment
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Media Channel &idea Justification
Radio VOV - Voice of Vietnam - Using push strategy to add
presents a story about a more information for
breakthrough in Vietnam's customers who usually
vehicle manufacturing want to update car’s
business. information
Television VTV1 - appeared on the Push marketing for who
news with image of the usually watch NEWS in
first car Vietnam the time frame from 7-8
innovation pm
Internet Social network such as Pull marketing and from
Facbook, tiktok vs content one to many
video (The content is a communication. For who
model of the VFE34 car; usually entertain by the
create a trend on tiktok video and want to get
when taking photos with visual of product as well as
VFe34, you will receive a get objective comments of
voucher related to commenters in the
Vingroup). At this time, comment area.
everyone will discuss in
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the comment section and
can share the article
Website - using the old

From one to many;
web to increase the
Interactive dialogues. For
prestige, besides selling on
those who want to have
the web to increase
direct and credit
convenience for
information of prodct
customers; code can open
chatbot for consultation
Send personalized From one to one for
promotional emails with potential and existing
the content “Dear A, this customer
car is for you”

Interactive dialogues for
Open discussions on those who want to have a
Quora, Digg with content: comprehensive view from
what do you think about product users
VFe34?
Press New Hanoi newspaper, Push marketing for those
Tuoi Tre newspaper, who often travel, travel on
business and fashion
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magazine ships or business planes
Outdoor Outdoor advertising at Push marketing
metro stations, bus
stations, airports, cinemas
with the image of Vfe34 as
well as its slogan
5. Budget and media mix
Meida type Budget Media mix

Radio 1,5 billion VND 0,12%
Television 2,5 billion VND 0,2%
Internet 2 billion VND 0,16%
Social media 3 billionVND 0,24%
Smartphone 1 billion VND 0,08%
Press 1 billion VND 0,08%
Outdoor 1,5 billion VND 0,12%
Total 12,5 billion VND 1%
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6. Integratin into overall media schedule or plan
7. Some pampaigns to promote VFe34:
i. Summer vacation without emission: At this campaign, we will focus on
magazine, radio because the target customers are high income and they tend to
update information on these type of media. Besides, we also using tiktok abd
facebook ads to create a trend for customers who are Millenial and they can
create word-of-mouth. Moreove, summer vacation is a suitable timeline to
create a trends.
ii. Using Vietnamese goods to raise Vietnamese spirit: using outdoor, TV news,
blog, tiktok ads. Because this campaign with bold Vietnamese spirit, when
brought to VTV, it will increase its prestige in the minds of users. Besides,
these types of ads can convey the nature of this campaign most clearly
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Marketing Analysis For Vinfast

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Marketing analysis and proposal for Vinfast Vfe34

Corporate Finance (Học viện Ngân hàng)

StuDocu is not sponsored or endorsed by any college or university

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Downloaded by Tran Le Minh Quan (tranleminhquan.bec@gmail.com)

Downloaded by Tran Le Minh Quan (tranleminhquan.bec@gmail.com)

Downloaded by Tran Le Minh Quan (tranleminhquan.bec@gmail.com)

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target customers, competitors, USP; besides, it also assists the corporate in

a time-frame of 1 year from 1/1/2022-31/12/2022 with 7 070 136 179 VND

II. Marketing audit

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1.1 Macro-environment (PESTLE)

Factors In Vietnam market Implication for Vinfast

while maintaining a reliable

supply chain. Besides, it also

presents that Vinfast could

have a great foundation to

make the business progress.

 Citizen’s Vietnam's economy is expected to rise at demand of consumers,

openness world and 4th in the Association of revenue

 Inflation Southeast Asian Nations.  (O) create conditions for the

recession emerging economic zones is increasing materials from abroad

day by day. As a result, their spending  (T) Company have to cost a

power also increases. lot of money in the

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 Vietnam is a country with a relatively high production process.

economic openness  (T) Not only does this lower

 The manufacturing and processing price the number of buyers, but it

 Economic Recession: this is the income.

consequence of the Covid 19 epidemic.

Buyers' purchasing power is being eroded

as they are forced to be more frugal with

habit of Omicron (VnExpress, 2021) causing Vinfast to decrease

 Education  Buying habit “Vietnamese people use in revenue

growth Vietnamese product”  (O) Consumers are more

 Vietnam's education system is currently inclined to utilize private

expanding, providing a potentially rich vehicles rather than public

people resource in addition to a team of transportation such as buses

students.(World Bank,2019) conscious of social

Vinfast will be able to

improve both automobile

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sales and profit.

 (O)Vinfast has created

reditbility in the Vietnamese

buyer's perspective with the

 (O)Create a large pool of

resources for Vinfast.

 Digital following a report by the VECOM and online sales techniques,

marketing (Vnexpress, 2021) making it easier for

 Technology  Digital marketing is considered a way to customers to approach them

advertise items that businesses are looking and increasing income.

for as the digital technology era  (O) It is an opportunity to

progresses. advertise products more

 Automobile manufacturers are easily, in order to improve

incorporating new technology into their brand awareness in the

manufacturing processes, such as perception of customers.