Role of marketing in motivation customer brand preference for vietnamese products. What are the most factors in marketing? Why?

INTRODUCTIONThe economy has gone through several stages of development along with the history of human society. On the other hand, the progress of science and technology has created the conditions for industrial production industries to develop significantly. More and more goods are produced. Besides, peoples lives are getting higher and higher, and the need to enjoy human life is also getting bigger. As a result, the market for consumer goods products has formed and grown in both scale and quality.Therefore, marketing has been an indispensable important field in the context of an open economy, increasing competition. The role of marketing is not only important in the operation of businesses but, at the same time, greatly affects consumers and also motivates customer brand preference for Vietnamese products. Through the introduction to the essay, I see that this is also the reason that I chose the topic Role of marketing in motivation customer brand preference for Vietnamese products. What are the most factors in marketing? Why? as the essay topic for my final exam

MINISTRY OF EDUCATION AND TRAINING

…… UNIVERSITY SCHOOL OF SOCIAL SCIENCES and FOREIGN LANGUAGES Academic Year: 2022- 2023

FINAL TEST

TABLE OF CONTENTS

INTRODUCTION 1

CONTENT 1

I SUMMARY OF MARKETING: 1

1.1 The birth of marketing: 1

1.2 Marketing concept: 2

1.3 The concept of "marketing mix"? 3

1.4 The role of marketing for consumers: 4

II ROLE OF MARKETING IN MOTIVATION COSTUMER BRAND PREFERENCE FOR VIETNAMESE PRODUCTS: 4

2.1 Introduction to company Vinfast: 4

2.2 VF 8 electric cars - D-class SUVs of VinFast company - Vietnam: 5 2.3 The success of the VinFast VF 8 electric car (Class D SUV) brings: 9 2.4 VinFast's marketing – mix 4P strategy: 11

2.5 Role of marketing in motivation costumer brand preference for Vietnamese products: 15

III MARKETING FACTORS: 16

3.1 Factors in marketing: 16

3.2 The most important factor in marketing? 19

CONCLUSION 22

REFERENCES 23

1

INTRODUCTION

The economy has gone through several stages of development along with the history of human society On the other hand, the progress of science and technology has created the conditions for industrial production industries to develop significantly More and more goods are produced Besides, people's lives are getting higher and higher, and the need to enjoy human life is also getting bigger As a result, the market for consumer goods products has formed and grown in both scale and quality

Therefore, marketing has been an indispensable important field in the context of an open economy, increasing competition The role of marketing

is not only important in the operation of businesses but, at the same time, greatly affects consumers and also motivates customer brand preference for Vietnamese products Through the introduction to the essay, I see that this

is also the reason that I chose the topic "Role of marketing in motivation customer brand preference for Vietnamese products What are the most factors in marketing? Why?" as the essay topic for my final exam

CONTENT

I SUMMARY OF MARKETING:

1.1 The birth of marketing:

Marketing was born associated with the appearance of goods When at least one of the two factors is that the seller and the buyer must strive to find ways to sell and buy the things, marketing appears Thus, marketing appears when exchanging goods is competitive, or in other words, the root

cause of marketing appearance is competition

Marketing theory first appeared in the United States in the early years of the twentieth century The first lectures on marketing were taught at the University of Michigan, California, then spread to other universities in the U.S and all countries with market economies Marketing theory does not end with consuming; it also includes market research, customer, design, and product manufacture in accordance with customer needs, valuation, and consumption organization

Marketing is first applied to companies producing and trading consumer goods, packaging, companies producing durable consumer goods, and companies producing industrial goods, followed by the fields of material products such as steel, chemicals, paper Over the past decades, marketing has been highly regarded in the fields of service business, aviation, and banking Freelance jobs such as lawyers, doctors, and auditors come to marketing at the latest Today, marketing is applied in all areas of commercial and non-commercial business

1.2 Marketing concept:

Marketing may be explained in a variety of ways However, in a simple and understandable way, marketing is a bridge that helps to connect the

(source: https://futurebrandvietnam.com/marketing-la-gi/ )

1.3 The concept of "marketing mix"?

The concept of "Marketing Mix" was first mentioned in a speech by Neil Borden, president of the American Marketing Association, in 1953 A marketing mix is a collection of tactics and tools that a business uses to advertise and sell its products in the

Figure 1 Maketing

Figure 2 Marketing Mix

(Source:

https://www.blucactus.com.mx/marketing-digital-para-principiantes/blucactus-el-marketing-mix/ )

market These tactics range from product development, packaging, price decisions, brands, and where to sell products, to deciding on communication and promotion strategies

1.4 The role of marketing for consumers:

Marketing activities not only benefit businesses but also bring a lot of convenience to consumers A business only survives and grows as long as

it provides economic benefits to its customers The economic benefit for customers is that they get a value higher than the cost they spend to buy those goods A product that satisfies the buyer is the one that offers more usefulness than the competitor's product In addition, changing the way customers view Vietnamese brands is equal to foreign brands and makes customers brand preference for Vietnamese products

II ROLE OF MARKETING IN MOTIVATION COSTUMER

BRAND PREFERENCE FOR VIETNAMESE PRODUCTS:

2.1 Introduction to company Vinfast:

VinFast is a Vietnamese manufacturer of automobiles and electric motorcycles established in 2017 This company is a member of Vingroup,

founded by Mr Pham Nhat Vuong The word VinFast stands for "Vietnam

- Style - Safety - Creation - Pioneer" These words express the aspirations

that the company wants to achieve: the desire to build a Vietnamese brand reaching the world, helping Vietnam have the opportunity to develop heavy industries, manufacturing industries, and auxiliary industries,

5

VinFast's main products are electric-powered smart vehicles, including

electric buses, electric cars, electric motorcycles, and so on VinFast is

constantly evolving, researching, and developing to bring the best services

and products to customers, contributing to promoting the transformation of

the use of gasoline-powered vehicles through electric vehicles in order to

protect the environment and human health from toxic waste

2.2 VF 8 electric cars - D-class SUVs of VinFast company -

Vietnam:

VinFast announced a major pivot: it will stop building vehicles with

combustion engines by the end of the year and make only electric vehicles

It is an expensive move early in the automaker's life Vinfast has launched

a few types of electric cars, but the VF-8 is the most successful D-class

SUV in the country and abroad And it was welcomed by U.S President

Joe Biden, who wanted VinFast to build a battery and electric car factory in

the U.S state of North Carolina

Figure 3.1 Logo Vinfast

(Source: https://www.michaelpage.com.vn/

clientprofile/vinfast )

Figure 3.2 Logo Vingroup

(Source: vector/logo-vingroup-1638.html )

https://inkythuatso.com/mau-thiet-ke-The VinFast VF 8 (VF e35) is expected to bring a new wind to the D-class SUV category after making an outstanding debut at the Los Angeles Auto Show in 2021, owing to its remarkable design, powertrain, and usefulness After that, it received a lot of attention not only from international users but also from customers in Vietnam The model has two versions: Eco and Plus, similar in size, safety technology, and differences

in battery capacity, engine, and some amenities on the car

Figure 4 VF 8 electric cars - D class SUVs

 In terms of powertrain, the VF 8 has two electric motors distributed equally by two axes, with operating performance in both versions as follows:

 Eco version: 5.9 seconds

 Plus version: about 5.5 seconds

 In terms of interior design, the VF 8 not only has a luxurious and sophisticated appearance, but it also incorporates various smart technologies to provide unique driving experiences, such as:

 Update apps remotely through free FOTA software or collect SOTA fees

 Virtual assistant

 Control the functionality on the car via the voice or VinFast app

 Online shopping services are fast and convenient

 Various entertainment video games

 Personalize promotional information, offers, and events

 Office utilities: receive and send messages via voice

 Home utilities: synchronize infotainment

Figure 5 Inside the car VF 8

(Source: https://muaxegiatot.vn/chi-tiet-xe-vinfast-vf8-plus.html )

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 Assists in monitoring vehicle conditions, diagnosing errors, and calling emergency services in case of problems

 Battery management and charging

 Furthermore, the VF 8 electric vehicles are outfitted with advanced driver assistance systems (ADAS) features such as:

 Supports movement in congested conditions

 Driving assistance on the highway

 Automatically switch lanes safely

 Full parking assistance (when there is a driver in the car)

 Self-parking (when there is a driver supervising outside the car)

 Summon a smart car

 Recognize signals and letters in traffic

 Warning system: Lane departure warning and lane-keeping assistance; forward and rear collisions; blind-spot warning; Traffic flow warning until the door is opened

 Automatic emergency braking

 Rear camera system and monitoring around 360 degrees

transitioning to electric vehicles, VinFast has focused on researching and developing battery technology in order to meet European standards In addition to water resistance, explosion resistance, and ensuring the ability

to move safely, electric car batteries also help the car protect the environment effectively Accordingly, VinFast VF 8 (formerly known as

VF e35) is a pure electric mid-size SUV, converging the breakthrough elements of the electric car model from the future: a powerful engine, environmentally friendly, and superior ADAS driving assistance feature, which promises to bring domestic and international customers new and exciting experiences

Not only domestic success, VinFast first launched the VF8 electric car at the exhibition in Los Angeles in November 2021 and then in Las Vegas in

January 2022 VinFast aims to start selling electric cars in the U.S and Europe this year, competing with Tesla and other electric car makers Following then, it received a lot of attention not only from international users but also from customers in Vietnam

Following the debut of the VF8 automobiles, Pham Nhat Vuong's car company and the North Carolina state government announced the signing of a memorandum of

Figure 6 President Biden's Twitter account shares information that VinFast

is building a battery and electric car factory in North Carolina

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understanding on the construction of VinFast's first manufacturing plant in

the North American market And was welcomed by U.S President Joe

Biden in a statement posted on the White House website

Figure 7 The signing ceremony between VinFast and the

government of North Carolina

(Source:

https://en.nhandan.vn/business/companies/item/11344902-vinfast-to-build-first-ev-factory-in-north-america.html )

2.4 VinFast's marketing – mix 4P strategy:

VinFast's marketing-mix strategy is a huge mark This model has helped

the company to exploit the market demand from the present to the future

Instead of current models, VinFast's marketing strategy - mix retains a

relatively traditional 4P marketing model: Product, Price, Place, and

Promotion

a Product:

As of 2022, Vinfast has launched a few electric cars Furthermore, in order

to build the brand and offer excellent goods, Vinfast also cooperates with many well-known companies in global automotive manufacturing techniques, such as Magna Steyr and Bosch, AVL, ZF, GROB, This contributes to the product being of the same quality as that of the world's automakers At the same time, Vinfast has hired two famous Italian designers, ItalDesign and Pininfarina (ItalDesign is a famous designer associated with the names of Ferrari and Lamborghini) This cooperation not only helps Vinfast to have the same quality as automakers around the world but also strengthens the image of high-class Vietnamese cars in the hearts of domestic and international users

b Price:

Vinfast's pricing strategy gives its products a competitive advantage in the market and gives them defense against potential competitors In addition, the construction of the price segment also helps Vinfast adjust the price to suit the needs of users Therefore, VinFast's price strategy has been evaluated at the mid-range, i.e higher than the Korean and Japanese automakers but lower than European automakers when distributed in the Vietnamese market This unit does not use a low valuation or high price strategy to penetrate the market at all Instead, they will regularly organize discounts and promotions to attract customers

13

Table 1 Vehicle pricing (Prices excluding business tax and VAT, battery,

battery lease, ADAS and Smart Service packages)

Market Model

Table 2 ADAS và Smart Service packages: (excluding business tax and VAT)

Market One-time Payment Monthly Subscription

Reservation fee Voucher VF8

(Source: electric-strategy-and-full-electric-vehicle-lineup-at-ces-2022)

https://vingroup.net/en/news/detail/2466/vinfast-announces-its-all-c Place:

Vinfast's distribution strategy includes:

 Acquisition of other distribution channels: Distribution strategies on many sales channels are based on Vinfast's process

of selecting the target market in a methodical way before that will help the company enter the market quickly and save time and cost in building a sales system

 Implementing wider distribution: Vinfast distributes through

a variety of sales channels and showrooms around the country

in order to reach a large number of customers Vinfast also plans to enter the international market On June 11, 2020, Vinfast's first showroom in overseas markets was located in Australia with a team of professionals from Lord, GM,

d Promotion:

VinFast has focused on very strong development campaigns The first is to promote social media, to increase your recognition and "coverage" Implementing attractive promotions and incentives to attract the attention

of the market Invest in quality advertising TVC is typically broadcast right

on the CNN channel and by AKQA, which is also the leading media company in the world In particular, in the mixed promotion strategy, VinFast's 3-no strategy also creates a unique: No investment depreciation costs - No financial costs - No profit Furthermore, during the first stage of market penetration, Vinfast created a media boom by using KOL "David Beckham" at the Paris Motor Show to increase customer trust