Analysis of the marketing strategy of vinfast a new but outstanding electric car brand in viet nam can final year students at ftu become potential customers for this brand

The potential customers for Vinfast A recent research by Nguyen Thi Nhu Quynh about the marketing-mix strategy for Vinfast has shown that Vinfast manufactures and sells cars not only in

FOREIGN TRADE UNIVERSITY

ASSIGNMENT SUBJECT: RESEARCH METHODOLOGY FOR ECONOMICS AND BUSINESS Analysis of the marketing strategy of Vinfast - a new but outstanding electric car brand in Viet Nam Can final-year students at FTU become potential customers for

this brand?

NAME: 2212155130_ NGO THI LE NA (100%)

2212155145_ NGUYEN BAO NGOC (100%)

22121 NGUYEN DOAN NGOC NGAN (100%)

CLASS: K6ICLC5

LECTURER: Le Hang My Hanh

Examiner l”s signature Examiner 2’s signature

Invigilator 1’s signature Invigilator 2’s signature

Ho Chi Minh City, February 16th, 2023

TABLE OFCONTENT

1 Abstract

2 Introduction

3 Literature review

3.1 The demand of using electric vehicles in Viet Nam

3.2 The appearance of a new brand and its marketing strategies

3.2.1 Basic marketing information

3.2.1.1 Price strategy for new products

3.2.1.2 Price adjustment strategy

3.2.1.3 Promotion strategy

3.2.1.4 Repair strategy

3.2.2 Achievements in recent years:

3.3 The potential customers for Vinfast

4 Research question and objectives

9, Result 23

9.2.1 Results of regression model 23 The sample regression model determined: 23 9.2.2 Estimation of confidence intervals 24

9.4.1 Is the coefficient obtained from the regression function consistent with economic theory? 26 9.4.2 Check the fit of the model 26

9.6.1 Detect variance change 27 9.6.2 Correction of variable variance 28

line, targeting both domestic and foreign customers, implying that its target market is wealthy people In the study, she did not mention the specific customer that Vinfast is targeting, as well as the student object Final-year students may be the object that does not suitable for such a luxury car brand like Vinfast, but through researching the marketing strategy, it is clear that this company usually changes to fit the demand of customers, and

we can believe that with the improvement of the product, Vinfast electric car may soon attend the mass market

4 Research question and objectives

+ Some analysis of the marketing strategies in the industry of electric cars

+ Highlight some expected results through several trustworthy documents regarding the issue

+ Determine key elements that affect the marketing strategy, and some recommendations for VinFast

+ Offers a look at the elements that led to VinFast's success in the Vietnamese auto market in recent years

5 Theoretical basis

FTU-Foreign Trade University-one of the most prestigious universities in Viet Nam

Students at FTU are famous for their dynamism, creativity, and difference Almost all

students have had a job before graduating from this university, another fact is that they often have good salaries and promotion opportunities Besides, because of living in modern life and having opportunities to access the Internet and interact with people from all over the world, they have awareness of common human problems One of the biggest

VinFast Fadil cars between November 15, 2019 and February 15, 2020 will only need to

pay 30% of the car's value in advance, with the remaining 70% being paid Payment in installments over a 5-year period Customers can also receive interesting gifts fromVinfast

by participating in the program "Test drive VinFast Lux - Experience class."

3.2.1.4 Repair strategy

From January 6, 2022, VinFast pioneered to deploy the first genuine mobile repair service

(Mobile Service) in Vietnam As a result, a team of technicians will perform maintenance,

repair, and replacement of spare parts with simple items at the location specified by the customer, without the use of a vehicle lift This service first appeared in Vietnam to help improve the customer experience

3.2.2 Achievements in recent years:

Vinfast made its first appearance at the Paris Motor Show one year after its debut This is one of Vinfast's major milestones in bringing the Vietnamese car brand abroad and attracting the attention of Vietnamese auto enthusiasts One of the important goals that VinFast aimed to achieve was to export in order to expand the market and generate profits

on a larger scale, thereby contributing to the company's economic pressures VinFast's export targets include massive markets such as Europe, China, and ASEAN Since August

2018, VinFast has been quietly establishing subsidiaries and representative offices in

Germany, China, and Korea

3.3 The potential customers for Vinfast

A recent research by Nguyen Thi Nhu Quynh about the marketing-mix strategy for Vinfast has shown that Vinfast manufactures and sells cars not only in the domestic market but also wishes to expand internationally, bringing Vietnamese brands to new

markets As a result, a large customer base both at home and abroad serves as an

economic foundation for Vinfast's auto industry Vinfast positions itself as a high-end car

350 Nm Transmission: ZF 8-speed automatic transmission Powertrain: Rear-wheel drive, AWD 4-wheel drive (premium version) Ground clearance 192 mm

- Product design: Exterior design has many colors for customers to choose, Fadil series

has 6 colors (red, blue, gray, silver, orange, white) and Vinfast Lux has 8 luxurious colors (Mystique Red, Luxury Blue, Desat Silver, Action Orange, Jet Black, Cormorant Brown,

Brahminy White and Neptune CL) The body is sturdy, true to Europe, the sound of closing the door firmly and entering the interior compartment does not have an unpleasant smell like popular cars The bonnet of this new model is elongated with sporty embossed ribs quite similar to BMW's 5-Series cars The bonnet is elongated with sporty embossed ribs, and the LED bulbs connected to daytime positioning lights bring something new Next to the letter "V" are 2 lines using LED bulbs connected to daytime positioning lights This different design of VinFast LUX A2.0 really brings something new

3.2.1.1 Price strategy for new products

Vinfast, as a new car manufacturer, does not appear to be targeting the low-cost car market, even positioning the brand at a slightly higher price point than product lines belonging to Japanese and Japanese brands Korean automakers such as Honda, Toyota, Hyundai, and Kia In the first stage, VinFast decided to implement strong consumer support policies, including a "3 No" price policy VinFast will not charge depreciation, financial costs (interest payable on loans used to build plants, working capital, etc.), or interest The selling price will be equal to the product's production cost plus selling expenses VinFast wishes to provide customers with the opportunity to experience world- class Vietnamese products by adopting a "3 No” pricing policy that accepts no profit 3.2.1.2 Price adjustment strategy

After maintaining the price of "3 No plus incentives” (from January | to August 31, 2019), from September 1, the selling price of VinFast Lux SA 2.0 cars will increase by

532 million VND, from 1,286 billion VND now up to 1,818 billion dong; Lux A 2.0

million, from the current 359 million to 423 million (price excludes VAT) In September

2019, the price list of VinFast cars, including Lux SA 2.0, Lux A 2.0, and Fadil models,

no longer includes incentives and returns to the official selling price, so the car's price will rise dramatically However, VinFast decided to extend the preferential period for its car

models at the last minute From February 12, 2020, VinFast continues to increase car

prices according to the policy of 3 without incentives, specifically VinFast Fadil cars

increase by 20 million, VinFast Lux A2.0 increase by 30 million, VinFast Lux SA2.0

increase by 50 million per version Keeping true to its commitment to customers, VinFast decided to adjust the selling price of the product, on the principle of maintaining the "3 No” policy, only gradually reducing the bonus plus

VinFast VF 5 Plus with bin: 538 million VND

VinFast Fadil Premium version: 419.100.000 VND

Promotion and direct marketing

Automobiles are considered a luxury item in Vietnam, and the Vinfast brand has yet to enter the Vietnamese market As a result, Vinfast promotes numerous promotions for car buyers, such as vinfast no interest for the first two years for customers who purchase a

350 Nm Transmission: ZF 8-speed automatic transmission Powertrain: Rear-wheel drive, AWD 4-wheel drive (premium version) Ground clearance 192 mm

- Product design: Exterior design has many colors for customers to choose, Fadil series

has 6 colors (red, blue, gray, silver, orange, white) and Vinfast Lux has 8 luxurious colors (Mystique Red, Luxury Blue, Desat Silver, Action Orange, Jet Black, Cormorant Brown,

Brahminy White and Neptune CL) The body is sturdy, true to Europe, the sound of closing the door firmly and entering the interior compartment does not have an unpleasant smell like popular cars The bonnet of this new model is elongated with sporty embossed ribs quite similar to BMW's 5-Series cars The bonnet is elongated with sporty embossed ribs, and the LED bulbs connected to daytime positioning lights bring something new Next to the letter "V" are 2 lines using LED bulbs connected to daytime positioning lights This different design of VinFast LUX A2.0 really brings something new

3.2.1.1 Price strategy for new products

Vinfast, as a new car manufacturer, does not appear to be targeting the low-cost car market, even positioning the brand at a slightly higher price point than product lines belonging to Japanese and Japanese brands Korean automakers such as Honda, Toyota, Hyundai, and Kia In the first stage, VinFast decided to implement strong consumer support policies, including a "3 No" price policy VinFast will not charge depreciation, financial costs (interest payable on loans used to build plants, working capital, etc.), or interest The selling price will be equal to the product's production cost plus selling expenses VinFast wishes to provide customers with the opportunity to experience world- class Vietnamese products by adopting a "3 No” pricing policy that accepts no profit 3.2.1.2 Price adjustment strategy

After maintaining the price of "3 No plus incentives” (from January | to August 31, 2019), from September 1, the selling price of VinFast Lux SA 2.0 cars will increase by

532 million VND, from 1,286 billion VND now up to 1,818 billion dong; Lux A 2.0

President, in which Vinfast's largest internal market share is Vinfast Fadil In 2021, Vinfast also launched 3 lines of electric cars: VF31, VF32, VF33 So we can see that this

is a vital milestone that affirms VinFast’s vision of becoming a new global electric automotive brand and bringing Vietnam to a new position on the world automotive industry map

In this proposal, the main issues addressed here include: (1) the popular use of electric vehicles in Viet Nam; (2) The introduction of a new brand, as well as its marketing campaign; (3) The prospective customers for Vinfast; (4) Methodology of the research; (5) Expected results and (6) Recommendations

3 Literature review

3.1 The demand of using electric vehicles in Viet Nam

People's knowledge of global warming has been quickly increasing in modern society Vehicles that don't release harmful pollutants to the environment are a fantastic fit for alternative sources of energy The People's Republic of China and the United States of America are the leading countries in terms of vehicle sales, while Vietnam and Singapore are the leading vehicle markets in terms of growth, with growth rates of 27.1% and 48.2%, respectively, in 2015-2016 This is according to a JATO Dynamics Ltd survey that

looked at the number of tourist vehicles, pickup trucks, and commercial vehicles sold

among automobile markets worldwide

The data from the Vietnam Registry stated that the number of electric vehicle registrations

in our country in the three years of 2019, 2020 and 2021 has prospered In 2019, the

number of registered electric vehicles is 190 vehicles, in 2020 it will increase to 900 vehicles and in 2021 it will be more than 1000 vehicles, it will be shown in the next table

The statistics above show that the number of vehicles sold in the Vietnamese automobile market is not particularly large, but the Vietnamese automobile market has experienced rapid growth in recent years The vehicle market in Vietnam has enormous potential for growth

3.2 The appearance of a new brand and its marketing strategies

3.2.1 Basic marketing information

-Vinfast Fadil: the first product from Vinfast, first introduced to customers on 20/11/2018

at Thong Nhat Park, Ha Noi

- Vinfast LUX: we have 2 versions for this brand including SUV (Vinfast LUX SA2.0) va Sedan (Vinfast LUX A2.0)

- Vinfast LUX V8: Introduced in 2020

-Brand name: Vinfast VinFast is abbreviated from extremely meaningful words In Vietnam, it is “Viét Nam, Phong cach, An toan, Sang tạo và Tiên phong”

The VinFast brand name expresses the aspiration of industrialization and modernization, the desire to pioneer the development of the automobile manufacturing industry in Vietnam, and national pride The logo is inspired by the "V" symbol, using delicate, luxurious and classy silver tones to create a stylish and fashionable car company The letter "V" represents Vietnam, Vingroup, VinFast, and the symbol "V" is also a victory The color of the logo is trusted by many famous car brands in the world, demonstrating

the level of the Vietnamese car brand

- Product feature: VinFast Fadil is a small car powered by a 4-cylinder petrol engine with a maximum capacity of 98 horsepower and 128 Nm It also has a CVT gearbox and a 6.2L V8 engine with a capacity of 445 horsepower and maximum torque of 624 Nm VinFast Lux SA2.0 has a 2.0L turbocharged gasoline engine with 228 horsepower and

VinFast Fadil cars between November 15, 2019 and February 15, 2020 will only need to

pay 30% of the car's value in advance, with the remaining 70% being paid Payment in installments over a 5-year period Customers can also receive interesting gifts fromVinfast

by participating in the program "Test drive VinFast Lux - Experience class."

3.2.1.4 Repair strategy

From January 6, 2022, VinFast pioneered to deploy the first genuine mobile repair service

(Mobile Service) in Vietnam As a result, a team of technicians will perform maintenance,

repair, and replacement of spare parts with simple items at the location specified by the customer, without the use of a vehicle lift This service first appeared in Vietnam to help improve the customer experience

3.2.2 Achievements in recent years:

Vinfast made its first appearance at the Paris Motor Show one year after its debut This is one of Vinfast's major milestones in bringing the Vietnamese car brand abroad and attracting the attention of Vietnamese auto enthusiasts One of the important goals that VinFast aimed to achieve was to export in order to expand the market and generate profits

on a larger scale, thereby contributing to the company's economic pressures VinFast's export targets include massive markets such as Europe, China, and ASEAN Since August

2018, VinFast has been quietly establishing subsidiaries and representative offices in

Germany, China, and Korea

3.3 The potential customers for Vinfast

A recent research by Nguyen Thi Nhu Quynh about the marketing-mix strategy for Vinfast has shown that Vinfast manufactures and sells cars not only in the domestic market but also wishes to expand internationally, bringing Vietnamese brands to new

markets As a result, a large customer base both at home and abroad serves as an

economic foundation for Vinfast's auto industry Vinfast positions itself as a high-end car

VinFast Fadil cars between November 15, 2019 and February 15, 2020 will only need to

pay 30% of the car's value in advance, with the remaining 70% being paid Payment in installments over a 5-year period Customers can also receive interesting gifts fromVinfast

by participating in the program "Test drive VinFast Lux - Experience class."

3.2.1.4 Repair strategy

From January 6, 2022, VinFast pioneered to deploy the first genuine mobile repair service

(Mobile Service) in Vietnam As a result, a team of technicians will perform maintenance,

repair, and replacement of spare parts with simple items at the location specified by the customer, without the use of a vehicle lift This service first appeared in Vietnam to help improve the customer experience

3.2.2 Achievements in recent years:

Vinfast made its first appearance at the Paris Motor Show one year after its debut This is one of Vinfast's major milestones in bringing the Vietnamese car brand abroad and attracting the attention of Vietnamese auto enthusiasts One of the important goals that VinFast aimed to achieve was to export in order to expand the market and generate profits

on a larger scale, thereby contributing to the company's economic pressures VinFast's export targets include massive markets such as Europe, China, and ASEAN Since August

2018, VinFast has been quietly establishing subsidiaries and representative offices in

Germany, China, and Korea

3.3 The potential customers for Vinfast

A recent research by Nguyen Thi Nhu Quynh about the marketing-mix strategy for Vinfast has shown that Vinfast manufactures and sells cars not only in the domestic market but also wishes to expand internationally, bringing Vietnamese brands to new

markets As a result, a large customer base both at home and abroad serves as an

economic foundation for Vinfast's auto industry Vinfast positions itself as a high-end car

President, in which Vinfast's largest internal market share is Vinfast Fadil In 2021, Vinfast also launched 3 lines of electric cars: VF31, VF32, VF33 So we can see that this

is a vital milestone that affirms VinFast’s vision of becoming a new global electric automotive brand and bringing Vietnam to a new position on the world automotive industry map

In this proposal, the main issues addressed here include: (1) the popular use of electric vehicles in Viet Nam; (2) The introduction of a new brand, as well as its marketing campaign; (3) The prospective customers for Vinfast; (4) Methodology of the research; (5) Expected results and (6) Recommendations

3 Literature review

3.1 The demand of using electric vehicles in Viet Nam

People's knowledge of global warming has been quickly increasing in modern society Vehicles that don't release harmful pollutants to the environment are a fantastic fit for alternative sources of energy The People's Republic of China and the United States of America are the leading countries in terms of vehicle sales, while Vietnam and Singapore are the leading vehicle markets in terms of growth, with growth rates of 27.1% and 48.2%, respectively, in 2015-2016 This is according to a JATO Dynamics Ltd survey that

looked at the number of tourist vehicles, pickup trucks, and commercial vehicles sold

among automobile markets worldwide

The data from the Vietnam Registry stated that the number of electric vehicle registrations

in our country in the three years of 2019, 2020 and 2021 has prospered In 2019, the

number of registered electric vehicles is 190 vehicles, in 2020 it will increase to 900 vehicles and in 2021 it will be more than 1000 vehicles, it will be shown in the next table

line, targeting both domestic and foreign customers, implying that its target market is wealthy people In the study, she did not mention the specific customer that Vinfast is targeting, as well as the student object Final-year students may be the object that does not suitable for such a luxury car brand like Vinfast, but through researching the marketing strategy, it is clear that this company usually changes to fit the demand of customers, and

we can believe that with the improvement of the product, Vinfast electric car may soon attend the mass market

4 Research question and objectives

+ Some analysis of the marketing strategies in the industry of electric cars

+ Highlight some expected results through several trustworthy documents regarding the issue

+ Determine key elements that affect the marketing strategy, and some recommendations for VinFast

+ Offers a look at the elements that led to VinFast's success in the Vietnamese auto market in recent years

5 Theoretical basis

FTU-Foreign Trade University-one of the most prestigious universities in Viet Nam

Students at FTU are famous for their dynamism, creativity, and difference Almost all

students have had a job before graduating from this university, another fact is that they often have good salaries and promotion opportunities Besides, because of living in modern life and having opportunities to access the Internet and interact with people from all over the world, they have awareness of common human problems One of the biggest

VinFast Fadil cars between November 15, 2019 and February 15, 2020 will only need to

pay 30% of the car's value in advance, with the remaining 70% being paid Payment in installments over a 5-year period Customers can also receive interesting gifts fromVinfast

by participating in the program "Test drive VinFast Lux - Experience class."

3.2.1.4 Repair strategy

From January 6, 2022, VinFast pioneered to deploy the first genuine mobile repair service

(Mobile Service) in Vietnam As a result, a team of technicians will perform maintenance,

repair, and replacement of spare parts with simple items at the location specified by the customer, without the use of a vehicle lift This service first appeared in Vietnam to help improve the customer experience

3.2.2 Achievements in recent years:

Vinfast made its first appearance at the Paris Motor Show one year after its debut This is one of Vinfast's major milestones in bringing the Vietnamese car brand abroad and attracting the attention of Vietnamese auto enthusiasts One of the important goals that VinFast aimed to achieve was to export in order to expand the market and generate profits

on a larger scale, thereby contributing to the company's economic pressures VinFast's export targets include massive markets such as Europe, China, and ASEAN Since August

2018, VinFast has been quietly establishing subsidiaries and representative offices in

Germany, China, and Korea

3.3 The potential customers for Vinfast

A recent research by Nguyen Thi Nhu Quynh about the marketing-mix strategy for Vinfast has shown that Vinfast manufactures and sells cars not only in the domestic market but also wishes to expand internationally, bringing Vietnamese brands to new

markets As a result, a large customer base both at home and abroad serves as an

economic foundation for Vinfast's auto industry Vinfast positions itself as a high-end car

VinFast Fadil cars between November 15, 2019 and February 15, 2020 will only need to

pay 30% of the car's value in advance, with the remaining 70% being paid Payment in installments over a 5-year period Customers can also receive interesting gifts fromVinfast

by participating in the program "Test drive VinFast Lux - Experience class."

3.2.1.4 Repair strategy

From January 6, 2022, VinFast pioneered to deploy the first genuine mobile repair service

(Mobile Service) in Vietnam As a result, a team of technicians will perform maintenance,

repair, and replacement of spare parts with simple items at the location specified by the customer, without the use of a vehicle lift This service first appeared in Vietnam to help improve the customer experience

3.2.2 Achievements in recent years:

Vinfast made its first appearance at the Paris Motor Show one year after its debut This is one of Vinfast's major milestones in bringing the Vietnamese car brand abroad and attracting the attention of Vietnamese auto enthusiasts One of the important goals that VinFast aimed to achieve was to export in order to expand the market and generate profits

on a larger scale, thereby contributing to the company's economic pressures VinFast's export targets include massive markets such as Europe, China, and ASEAN Since August

2018, VinFast has been quietly establishing subsidiaries and representative offices in

Germany, China, and Korea

3.3 The potential customers for Vinfast

A recent research by Nguyen Thi Nhu Quynh about the marketing-mix strategy for Vinfast has shown that Vinfast manufactures and sells cars not only in the domestic market but also wishes to expand internationally, bringing Vietnamese brands to new

markets As a result, a large customer base both at home and abroad serves as an

economic foundation for Vinfast's auto industry Vinfast positions itself as a high-end car

350 Nm Transmission: ZF 8-speed automatic transmission Powertrain: Rear-wheel drive, AWD 4-wheel drive (premium version) Ground clearance 192 mm

- Product design: Exterior design has many colors for customers to choose, Fadil series

has 6 colors (red, blue, gray, silver, orange, white) and Vinfast Lux has 8 luxurious colors (Mystique Red, Luxury Blue, Desat Silver, Action Orange, Jet Black, Cormorant Brown,

Brahminy White and Neptune CL) The body is sturdy, true to Europe, the sound of closing the door firmly and entering the interior compartment does not have an unpleasant smell like popular cars The bonnet of this new model is elongated with sporty embossed ribs quite similar to BMW's 5-Series cars The bonnet is elongated with sporty embossed ribs, and the LED bulbs connected to daytime positioning lights bring something new Next to the letter "V" are 2 lines using LED bulbs connected to daytime positioning lights This different design of VinFast LUX A2.0 really brings something new

3.2.1.1 Price strategy for new products

Vinfast, as a new car manufacturer, does not appear to be targeting the low-cost car market, even positioning the brand at a slightly higher price point than product lines belonging to Japanese and Japanese brands Korean automakers such as Honda, Toyota, Hyundai, and Kia In the first stage, VinFast decided to implement strong consumer support policies, including a "3 No" price policy VinFast will not charge depreciation, financial costs (interest payable on loans used to build plants, working capital, etc.), or interest The selling price will be equal to the product's production cost plus selling expenses VinFast wishes to provide customers with the opportunity to experience world- class Vietnamese products by adopting a "3 No” pricing policy that accepts no profit 3.2.1.2 Price adjustment strategy

After maintaining the price of "3 No plus incentives” (from January | to August 31, 2019), from September 1, the selling price of VinFast Lux SA 2.0 cars will increase by

532 million VND, from 1,286 billion VND now up to 1,818 billion dong; Lux A 2.0

line, targeting both domestic and foreign customers, implying that its target market is wealthy people In the study, she did not mention the specific customer that Vinfast is targeting, as well as the student object Final-year students may be the object that does not suitable for such a luxury car brand like Vinfast, but through researching the marketing strategy, it is clear that this company usually changes to fit the demand of customers, and

we can believe that with the improvement of the product, Vinfast electric car may soon attend the mass market

4 Research question and objectives

+ Some analysis of the marketing strategies in the industry of electric cars

+ Highlight some expected results through several trustworthy documents regarding the issue

+ Determine key elements that affect the marketing strategy, and some recommendations for VinFast

+ Offers a look at the elements that led to VinFast's success in the Vietnamese auto market in recent years

5 Theoretical basis

FTU-Foreign Trade University-one of the most prestigious universities in Viet Nam

Students at FTU are famous for their dynamism, creativity, and difference Almost all

students have had a job before graduating from this university, another fact is that they often have good salaries and promotion opportunities Besides, because of living in modern life and having opportunities to access the Internet and interact with people from all over the world, they have awareness of common human problems One of the biggest

President, in which Vinfast's largest internal market share is Vinfast Fadil In 2021, Vinfast also launched 3 lines of electric cars: VF31, VF32, VF33 So we can see that this

is a vital milestone that affirms VinFast’s vision of becoming a new global electric automotive brand and bringing Vietnam to a new position on the world automotive industry map

In this proposal, the main issues addressed here include: (1) the popular use of electric vehicles in Viet Nam; (2) The introduction of a new brand, as well as its marketing campaign; (3) The prospective customers for Vinfast; (4) Methodology of the research; (5) Expected results and (6) Recommendations

3 Literature review

3.1 The demand of using electric vehicles in Viet Nam

People's knowledge of global warming has been quickly increasing in modern society Vehicles that don't release harmful pollutants to the environment are a fantastic fit for alternative sources of energy The People's Republic of China and the United States of America are the leading countries in terms of vehicle sales, while Vietnam and Singapore are the leading vehicle markets in terms of growth, with growth rates of 27.1% and 48.2%, respectively, in 2015-2016 This is according to a JATO Dynamics Ltd survey that

looked at the number of tourist vehicles, pickup trucks, and commercial vehicles sold

among automobile markets worldwide

The data from the Vietnam Registry stated that the number of electric vehicle registrations

in our country in the three years of 2019, 2020 and 2021 has prospered In 2019, the

number of registered electric vehicles is 190 vehicles, in 2020 it will increase to 900 vehicles and in 2021 it will be more than 1000 vehicles, it will be shown in the next table

VinFast Fadil cars between November 15, 2019 and February 15, 2020 will only need to

pay 30% of the car's value in advance, with the remaining 70% being paid Payment in installments over a 5-year period Customers can also receive interesting gifts fromVinfast

by participating in the program "Test drive VinFast Lux - Experience class."

3.2.1.4 Repair strategy

From January 6, 2022, VinFast pioneered to deploy the first genuine mobile repair service

(Mobile Service) in Vietnam As a result, a team of technicians will perform maintenance,

repair, and replacement of spare parts with simple items at the location specified by the customer, without the use of a vehicle lift This service first appeared in Vietnam to help improve the customer experience

3.2.2 Achievements in recent years:

Vinfast made its first appearance at the Paris Motor Show one year after its debut This is one of Vinfast's major milestones in bringing the Vietnamese car brand abroad and attracting the attention of Vietnamese auto enthusiasts One of the important goals that VinFast aimed to achieve was to export in order to expand the market and generate profits

on a larger scale, thereby contributing to the company's economic pressures VinFast's export targets include massive markets such as Europe, China, and ASEAN Since August

2018, VinFast has been quietly establishing subsidiaries and representative offices in

Germany, China, and Korea

3.3 The potential customers for Vinfast

A recent research by Nguyen Thi Nhu Quynh about the marketing-mix strategy for Vinfast has shown that Vinfast manufactures and sells cars not only in the domestic market but also wishes to expand internationally, bringing Vietnamese brands to new

markets As a result, a large customer base both at home and abroad serves as an

economic foundation for Vinfast's auto industry Vinfast positions itself as a high-end car

VinFast Fadil cars between November 15, 2019 and February 15, 2020 will only need to

pay 30% of the car's value in advance, with the remaining 70% being paid Payment in installments over a 5-year period Customers can also receive interesting gifts fromVinfast

by participating in the program "Test drive VinFast Lux - Experience class."

3.2.1.4 Repair strategy

From January 6, 2022, VinFast pioneered to deploy the first genuine mobile repair service

(Mobile Service) in Vietnam As a result, a team of technicians will perform maintenance,

repair, and replacement of spare parts with simple items at the location specified by the customer, without the use of a vehicle lift This service first appeared in Vietnam to help improve the customer experience

3.2.2 Achievements in recent years:

Vinfast made its first appearance at the Paris Motor Show one year after its debut This is one of Vinfast's major milestones in bringing the Vietnamese car brand abroad and attracting the attention of Vietnamese auto enthusiasts One of the important goals that VinFast aimed to achieve was to export in order to expand the market and generate profits

on a larger scale, thereby contributing to the company's economic pressures VinFast's export targets include massive markets such as Europe, China, and ASEAN Since August

2018, VinFast has been quietly establishing subsidiaries and representative offices in

Germany, China, and Korea

3.3 The potential customers for Vinfast

A recent research by Nguyen Thi Nhu Quynh about the marketing-mix strategy for Vinfast has shown that Vinfast manufactures and sells cars not only in the domestic market but also wishes to expand internationally, bringing Vietnamese brands to new

markets As a result, a large customer base both at home and abroad serves as an

economic foundation for Vinfast's auto industry Vinfast positions itself as a high-end car

350 Nm Transmission: ZF 8-speed automatic transmission Powertrain: Rear-wheel drive, AWD 4-wheel drive (premium version) Ground clearance 192 mm

- Product design: Exterior design has many colors for customers to choose, Fadil series

has 6 colors (red, blue, gray, silver, orange, white) and Vinfast Lux has 8 luxurious colors (Mystique Red, Luxury Blue, Desat Silver, Action Orange, Jet Black, Cormorant Brown,

Brahminy White and Neptune CL) The body is sturdy, true to Europe, the sound of closing the door firmly and entering the interior compartment does not have an unpleasant smell like popular cars The bonnet of this new model is elongated with sporty embossed ribs quite similar to BMW's 5-Series cars The bonnet is elongated with sporty embossed ribs, and the LED bulbs connected to daytime positioning lights bring something new Next to the letter "V" are 2 lines using LED bulbs connected to daytime positioning lights This different design of VinFast LUX A2.0 really brings something new

3.2.1.1 Price strategy for new products

Vinfast, as a new car manufacturer, does not appear to be targeting the low-cost car market, even positioning the brand at a slightly higher price point than product lines belonging to Japanese and Japanese brands Korean automakers such as Honda, Toyota, Hyundai, and Kia In the first stage, VinFast decided to implement strong consumer support policies, including a "3 No" price policy VinFast will not charge depreciation, financial costs (interest payable on loans used to build plants, working capital, etc.), or interest The selling price will be equal to the product's production cost plus selling expenses VinFast wishes to provide customers with the opportunity to experience world- class Vietnamese products by adopting a "3 No” pricing policy that accepts no profit 3.2.1.2 Price adjustment strategy

After maintaining the price of "3 No plus incentives” (from January | to August 31, 2019), from September 1, the selling price of VinFast Lux SA 2.0 cars will increase by

532 million VND, from 1,286 billion VND now up to 1,818 billion dong; Lux A 2.0

VinFast Fadil cars between November 15, 2019 and February 15, 2020 will only need to

pay 30% of the car's value in advance, with the remaining 70% being paid Payment in installments over a 5-year period Customers can also receive interesting gifts fromVinfast

by participating in the program "Test drive VinFast Lux - Experience class."

3.2.1.4 Repair strategy

From January 6, 2022, VinFast pioneered to deploy the first genuine mobile repair service

(Mobile Service) in Vietnam As a result, a team of technicians will perform maintenance,

repair, and replacement of spare parts with simple items at the location specified by the customer, without the use of a vehicle lift This service first appeared in Vietnam to help improve the customer experience

3.2.2 Achievements in recent years:

Vinfast made its first appearance at the Paris Motor Show one year after its debut This is one of Vinfast's major milestones in bringing the Vietnamese car brand abroad and attracting the attention of Vietnamese auto enthusiasts One of the important goals that VinFast aimed to achieve was to export in order to expand the market and generate profits

on a larger scale, thereby contributing to the company's economic pressures VinFast's export targets include massive markets such as Europe, China, and ASEAN Since August

2018, VinFast has been quietly establishing subsidiaries and representative offices in

Germany, China, and Korea

3.3 The potential customers for Vinfast

A recent research by Nguyen Thi Nhu Quynh about the marketing-mix strategy for Vinfast has shown that Vinfast manufactures and sells cars not only in the domestic market but also wishes to expand internationally, bringing Vietnamese brands to new

markets As a result, a large customer base both at home and abroad serves as an

economic foundation for Vinfast's auto industry Vinfast positions itself as a high-end car

The statistics above show that the number of vehicles sold in the Vietnamese automobile market is not particularly large, but the Vietnamese automobile market has experienced rapid growth in recent years The vehicle market in Vietnam has enormous potential for growth

3.2 The appearance of a new brand and its marketing strategies

3.2.1 Basic marketing information

-Vinfast Fadil: the first product from Vinfast, first introduced to customers on 20/11/2018

at Thong Nhat Park, Ha Noi

- Vinfast LUX: we have 2 versions for this brand including SUV (Vinfast LUX SA2.0) va Sedan (Vinfast LUX A2.0)

- Vinfast LUX V8: Introduced in 2020

-Brand name: Vinfast VinFast is abbreviated from extremely meaningful words In Vietnam, it is “Viét Nam, Phong cach, An toan, Sang tạo và Tiên phong”

The VinFast brand name expresses the aspiration of industrialization and modernization, the desire to pioneer the development of the automobile manufacturing industry in Vietnam, and national pride The logo is inspired by the "V" symbol, using delicate, luxurious and classy silver tones to create a stylish and fashionable car company The letter "V" represents Vietnam, Vingroup, VinFast, and the symbol "V" is also a victory The color of the logo is trusted by many famous car brands in the world, demonstrating

the level of the Vietnamese car brand

- Product feature: VinFast Fadil is a small car powered by a 4-cylinder petrol engine with a maximum capacity of 98 horsepower and 128 Nm It also has a CVT gearbox and a 6.2L V8 engine with a capacity of 445 horsepower and maximum torque of 624 Nm VinFast Lux SA2.0 has a 2.0L turbocharged gasoline engine with 228 horsepower and

The statistics above show that the number of vehicles sold in the Vietnamese automobile market is not particularly large, but the Vietnamese automobile market has experienced rapid growth in recent years The vehicle market in Vietnam has enormous potential for growth

3.2 The appearance of a new brand and its marketing strategies

3.2.1 Basic marketing information

-Vinfast Fadil: the first product from Vinfast, first introduced to customers on 20/11/2018

at Thong Nhat Park, Ha Noi

- Vinfast LUX: we have 2 versions for this brand including SUV (Vinfast LUX SA2.0) va Sedan (Vinfast LUX A2.0)

- Vinfast LUX V8: Introduced in 2020

-Brand name: Vinfast VinFast is abbreviated from extremely meaningful words In Vietnam, it is “Viét Nam, Phong cach, An toan, Sang tạo và Tiên phong”

The VinFast brand name expresses the aspiration of industrialization and modernization, the desire to pioneer the development of the automobile manufacturing industry in Vietnam, and national pride The logo is inspired by the "V" symbol, using delicate, luxurious and classy silver tones to create a stylish and fashionable car company The letter "V" represents Vietnam, Vingroup, VinFast, and the symbol "V" is also a victory The color of the logo is trusted by many famous car brands in the world, demonstrating

the level of the Vietnamese car brand

- Product feature: VinFast Fadil is a small car powered by a 4-cylinder petrol engine with a maximum capacity of 98 horsepower and 128 Nm It also has a CVT gearbox and a 6.2L V8 engine with a capacity of 445 horsepower and maximum torque of 624 Nm VinFast Lux SA2.0 has a 2.0L turbocharged gasoline engine with 228 horsepower and

President, in which Vinfast's largest internal market share is Vinfast Fadil In 2021, Vinfast also launched 3 lines of electric cars: VF31, VF32, VF33 So we can see that this

is a vital milestone that affirms VinFast’s vision of becoming a new global electric automotive brand and bringing Vietnam to a new position on the world automotive industry map

In this proposal, the main issues addressed here include: (1) the popular use of electric vehicles in Viet Nam; (2) The introduction of a new brand, as well as its marketing campaign; (3) The prospective customers for Vinfast; (4) Methodology of the research; (5) Expected results and (6) Recommendations

3 Literature review

3.1 The demand of using electric vehicles in Viet Nam

People's knowledge of global warming has been quickly increasing in modern society Vehicles that don't release harmful pollutants to the environment are a fantastic fit for alternative sources of energy The People's Republic of China and the United States of America are the leading countries in terms of vehicle sales, while Vietnam and Singapore are the leading vehicle markets in terms of growth, with growth rates of 27.1% and 48.2%, respectively, in 2015-2016 This is according to a JATO Dynamics Ltd survey that

looked at the number of tourist vehicles, pickup trucks, and commercial vehicles sold

among automobile markets worldwide

The data from the Vietnam Registry stated that the number of electric vehicle registrations

in our country in the three years of 2019, 2020 and 2021 has prospered In 2019, the

number of registered electric vehicles is 190 vehicles, in 2020 it will increase to 900 vehicles and in 2021 it will be more than 1000 vehicles, it will be shown in the next table

million, from the current 359 million to 423 million (price excludes VAT) In September

2019, the price list of VinFast cars, including Lux SA 2.0, Lux A 2.0, and Fadil models,

no longer includes incentives and returns to the official selling price, so the car's price will rise dramatically However, VinFast decided to extend the preferential period for its car

models at the last minute From February 12, 2020, VinFast continues to increase car

prices according to the policy of 3 without incentives, specifically VinFast Fadil cars

increase by 20 million, VinFast Lux A2.0 increase by 30 million, VinFast Lux SA2.0

increase by 50 million per version Keeping true to its commitment to customers, VinFast decided to adjust the selling price of the product, on the principle of maintaining the "3 No” policy, only gradually reducing the bonus plus

VinFast VF 5 Plus with bin: 538 million VND

VinFast Fadil Premium version: 419.100.000 VND

Promotion and direct marketing

Automobiles are considered a luxury item in Vietnam, and the Vinfast brand has yet to enter the Vietnamese market As a result, Vinfast promotes numerous promotions for car buyers, such as vinfast no interest for the first two years for customers who purchase a

million, from the current 359 million to 423 million (price excludes VAT) In September

2019, the price list of VinFast cars, including Lux SA 2.0, Lux A 2.0, and Fadil models,

no longer includes incentives and returns to the official selling price, so the car's price will rise dramatically However, VinFast decided to extend the preferential period for its car

models at the last minute From February 12, 2020, VinFast continues to increase car

prices according to the policy of 3 without incentives, specifically VinFast Fadil cars

increase by 20 million, VinFast Lux A2.0 increase by 30 million, VinFast Lux SA2.0

increase by 50 million per version Keeping true to its commitment to customers, VinFast decided to adjust the selling price of the product, on the principle of maintaining the "3 No” policy, only gradually reducing the bonus plus

VinFast VF 5 Plus with bin: 538 million VND

VinFast Fadil Premium version: 419.100.000 VND

Promotion and direct marketing

Automobiles are considered a luxury item in Vietnam, and the Vinfast brand has yet to enter the Vietnamese market As a result, Vinfast promotes numerous promotions for car buyers, such as vinfast no interest for the first two years for customers who purchase a

million, from the current 359 million to 423 million (price excludes VAT) In September

2019, the price list of VinFast cars, including Lux SA 2.0, Lux A 2.0, and Fadil models,

no longer includes incentives and returns to the official selling price, so the car's price will rise dramatically However, VinFast decided to extend the preferential period for its car

models at the last minute From February 12, 2020, VinFast continues to increase car

prices according to the policy of 3 without incentives, specifically VinFast Fadil cars

increase by 20 million, VinFast Lux A2.0 increase by 30 million, VinFast Lux SA2.0

increase by 50 million per version Keeping true to its commitment to customers, VinFast decided to adjust the selling price of the product, on the principle of maintaining the "3 No” policy, only gradually reducing the bonus plus

VinFast VF 5 Plus with bin: 538 million VND

VinFast Fadil Premium version: 419.100.000 VND

Promotion and direct marketing

Automobiles are considered a luxury item in Vietnam, and the Vinfast brand has yet to enter the Vietnamese market As a result, Vinfast promotes numerous promotions for car buyers, such as vinfast no interest for the first two years for customers who purchase a

always been a topic of interest, and we also wonder if final-year students can be a target

of the marketing strategy of the company For this reason, the proposal will bring some information and methods to find the answer to the question “ Can final-year students at FTU become potential customers for this brand?” At the end of the research, this study will highlight some expected results through several trustworthy documents regarding the issue, key elements that affect the marketing strategy, and some recommendations for VinFast

2 Introduction

VinFast is one of the most famous Vietnamese companies and their main products are

electric automobile products and internal combustion, electric motor-using cars, and eco-

friendly electric motorcycles This is also the 7th core business of Vingroup with the head office located in Hanoi and the CEO is Mr Pham Nhat Vuong It was established in 2017 and the birth of VinFast not only contributed to making the Vietnamese car dreams come true, but also opened Vingroup's era of development-based technology and knowledge and participated in promoting Vietnamese automotive industry “VinFast is a subsidiary of Vingroup, a large conglomeration of privately held corporations in Vietnam, that includes businesses in technology, industry, and services VinFast boldly stepped into the Vietnamese automotive market in 2019 as the only domestic car brand and showed that they could move quickly and decisively to produce high quality cars resulting in rapid sales and leading revenue in their respective segments It is the first Vietnamese car brand

to expand into global markets as well as the first to expand into producing EVs such as

electric cars and electric scooters.Within 21 months of launch, and with an investment of

nearly $3.5 billion USD, they were producing several models of e-scooters, buses, and automobile models —including the ultra-high luxury President2— in their fully- automated modern manufacturing facility boasting capacity to build 250,000 vehicles a year In early 2021, VinFast executives announced their vision of becoming a global

leader in the EV market, introduced EV models, and started their international expansion

plans.”

President, in which Vinfast's largest internal market share is Vinfast Fadil In 2021, Vinfast also launched 3 lines of electric cars: VF31, VF32, VF33 So we can see that this

is a vital milestone that affirms VinFast’s vision of becoming a new global electric automotive brand and bringing Vietnam to a new position on the world automotive industry map

In this proposal, the main issues addressed here include: (1) the popular use of electric vehicles in Viet Nam; (2) The introduction of a new brand, as well as its marketing campaign; (3) The prospective customers for Vinfast; (4) Methodology of the research; (5) Expected results and (6) Recommendations

3 Literature review

3.1 The demand of using electric vehicles in Viet Nam

People's knowledge of global warming has been quickly increasing in modern society Vehicles that don't release harmful pollutants to the environment are a fantastic fit for alternative sources of energy The People's Republic of China and the United States of America are the leading countries in terms of vehicle sales, while Vietnam and Singapore are the leading vehicle markets in terms of growth, with growth rates of 27.1% and 48.2%, respectively, in 2015-2016 This is according to a JATO Dynamics Ltd survey that

looked at the number of tourist vehicles, pickup trucks, and commercial vehicles sold

among automobile markets worldwide

The data from the Vietnam Registry stated that the number of electric vehicle registrations

in our country in the three years of 2019, 2020 and 2021 has prospered In 2019, the

number of registered electric vehicles is 190 vehicles, in 2020 it will increase to 900 vehicles and in 2021 it will be more than 1000 vehicles, it will be shown in the next table

always been a topic of interest, and we also wonder if final-year students can be a target

of the marketing strategy of the company For this reason, the proposal will bring some information and methods to find the answer to the question “ Can final-year students at FTU become potential customers for this brand?” At the end of the research, this study will highlight some expected results through several trustworthy documents regarding the issue, key elements that affect the marketing strategy, and some recommendations for VinFast

2 Introduction

VinFast is one of the most famous Vietnamese companies and their main products are

electric automobile products and internal combustion, electric motor-using cars, and eco-

friendly electric motorcycles This is also the 7th core business of Vingroup with the head office located in Hanoi and the CEO is Mr Pham Nhat Vuong It was established in 2017 and the birth of VinFast not only contributed to making the Vietnamese car dreams come true, but also opened Vingroup's era of development-based technology and knowledge and participated in promoting Vietnamese automotive industry “VinFast is a subsidiary of Vingroup, a large conglomeration of privately held corporations in Vietnam, that includes businesses in technology, industry, and services VinFast boldly stepped into the Vietnamese automotive market in 2019 as the only domestic car brand and showed that they could move quickly and decisively to produce high quality cars resulting in rapid sales and leading revenue in their respective segments It is the first Vietnamese car brand

to expand into global markets as well as the first to expand into producing EVs such as

electric cars and electric scooters.Within 21 months of launch, and with an investment of

nearly $3.5 billion USD, they were producing several models of e-scooters, buses, and automobile models —including the ultra-high luxury President2— in their fully- automated modern manufacturing facility boasting capacity to build 250,000 vehicles a year In early 2021, VinFast executives announced their vision of becoming a global

leader in the EV market, introduced EV models, and started their international expansion

plans.”

million, from the current 359 million to 423 million (price excludes VAT) In September

2019, the price list of VinFast cars, including Lux SA 2.0, Lux A 2.0, and Fadil models,

no longer includes incentives and returns to the official selling price, so the car's price will rise dramatically However, VinFast decided to extend the preferential period for its car

models at the last minute From February 12, 2020, VinFast continues to increase car

prices according to the policy of 3 without incentives, specifically VinFast Fadil cars

increase by 20 million, VinFast Lux A2.0 increase by 30 million, VinFast Lux SA2.0

increase by 50 million per version Keeping true to its commitment to customers, VinFast decided to adjust the selling price of the product, on the principle of maintaining the "3 No” policy, only gradually reducing the bonus plus

VinFast VF 5 Plus with bin: 538 million VND

VinFast Fadil Premium version: 419.100.000 VND

Promotion and direct marketing

Automobiles are considered a luxury item in Vietnam, and the Vinfast brand has yet to enter the Vietnamese market As a result, Vinfast promotes numerous promotions for car buyers, such as vinfast no interest for the first two years for customers who purchase a

always been a topic of interest, and we also wonder if final-year students can be a target

of the marketing strategy of the company For this reason, the proposal will bring some information and methods to find the answer to the question “ Can final-year students at FTU become potential customers for this brand?” At the end of the research, this study will highlight some expected results through several trustworthy documents regarding the issue, key elements that affect the marketing strategy, and some recommendations for VinFast

2 Introduction

VinFast is one of the most famous Vietnamese companies and their main products are

electric automobile products and internal combustion, electric motor-using cars, and eco-

friendly electric motorcycles This is also the 7th core business of Vingroup with the head office located in Hanoi and the CEO is Mr Pham Nhat Vuong It was established in 2017 and the birth of VinFast not only contributed to making the Vietnamese car dreams come true, but also opened Vingroup's era of development-based technology and knowledge and participated in promoting Vietnamese automotive industry “VinFast is a subsidiary of Vingroup, a large conglomeration of privately held corporations in Vietnam, that includes businesses in technology, industry, and services VinFast boldly stepped into the Vietnamese automotive market in 2019 as the only domestic car brand and showed that they could move quickly and decisively to produce high quality cars resulting in rapid sales and leading revenue in their respective segments It is the first Vietnamese car brand

to expand into global markets as well as the first to expand into producing EVs such as

electric cars and electric scooters.Within 21 months of launch, and with an investment of

nearly $3.5 billion USD, they were producing several models of e-scooters, buses, and automobile models —including the ultra-high luxury President2— in their fully- automated modern manufacturing facility boasting capacity to build 250,000 vehicles a year In early 2021, VinFast executives announced their vision of becoming a global

leader in the EV market, introduced EV models, and started their international expansion

plans.”

350 Nm Transmission: ZF 8-speed automatic transmission Powertrain: Rear-wheel drive, AWD 4-wheel drive (premium version) Ground clearance 192 mm

- Product design: Exterior design has many colors for customers to choose, Fadil series

has 6 colors (red, blue, gray, silver, orange, white) and Vinfast Lux has 8 luxurious colors (Mystique Red, Luxury Blue, Desat Silver, Action Orange, Jet Black, Cormorant Brown,

Brahminy White and Neptune CL) The body is sturdy, true to Europe, the sound of closing the door firmly and entering the interior compartment does not have an unpleasant smell like popular cars The bonnet of this new model is elongated with sporty embossed ribs quite similar to BMW's 5-Series cars The bonnet is elongated with sporty embossed ribs, and the LED bulbs connected to daytime positioning lights bring something new Next to the letter "V" are 2 lines using LED bulbs connected to daytime positioning lights This different design of VinFast LUX A2.0 really brings something new

3.2.1.1 Price strategy for new products

Vinfast, as a new car manufacturer, does not appear to be targeting the low-cost car market, even positioning the brand at a slightly higher price point than product lines belonging to Japanese and Japanese brands Korean automakers such as Honda, Toyota, Hyundai, and Kia In the first stage, VinFast decided to implement strong consumer support policies, including a "3 No" price policy VinFast will not charge depreciation, financial costs (interest payable on loans used to build plants, working capital, etc.), or interest The selling price will be equal to the product's production cost plus selling expenses VinFast wishes to provide customers with the opportunity to experience world- class Vietnamese products by adopting a "3 No” pricing policy that accepts no profit 3.2.1.2 Price adjustment strategy

After maintaining the price of "3 No plus incentives” (from January | to August 31, 2019), from September 1, the selling price of VinFast Lux SA 2.0 cars will increase by

532 million VND, from 1,286 billion VND now up to 1,818 billion dong; Lux A 2.0

VinFast Fadil cars between November 15, 2019 and February 15, 2020 will only need to

pay 30% of the car's value in advance, with the remaining 70% being paid Payment in installments over a 5-year period Customers can also receive interesting gifts fromVinfast

by participating in the program "Test drive VinFast Lux - Experience class."

3.2.1.4 Repair strategy

From January 6, 2022, VinFast pioneered to deploy the first genuine mobile repair service

(Mobile Service) in Vietnam As a result, a team of technicians will perform maintenance,

repair, and replacement of spare parts with simple items at the location specified by the customer, without the use of a vehicle lift This service first appeared in Vietnam to help improve the customer experience

3.2.2 Achievements in recent years:

Vinfast made its first appearance at the Paris Motor Show one year after its debut This is one of Vinfast's major milestones in bringing the Vietnamese car brand abroad and attracting the attention of Vietnamese auto enthusiasts One of the important goals that VinFast aimed to achieve was to export in order to expand the market and generate profits

on a larger scale, thereby contributing to the company's economic pressures VinFast's export targets include massive markets such as Europe, China, and ASEAN Since August

2018, VinFast has been quietly establishing subsidiaries and representative offices in

Germany, China, and Korea

3.3 The potential customers for Vinfast

A recent research by Nguyen Thi Nhu Quynh about the marketing-mix strategy for Vinfast has shown that Vinfast manufactures and sells cars not only in the domestic market but also wishes to expand internationally, bringing Vietnamese brands to new

markets As a result, a large customer base both at home and abroad serves as an

economic foundation for Vinfast's auto industry Vinfast positions itself as a high-end car

million, from the current 359 million to 423 million (price excludes VAT) In September

2019, the price list of VinFast cars, including Lux SA 2.0, Lux A 2.0, and Fadil models,

no longer includes incentives and returns to the official selling price, so the car's price will rise dramatically However, VinFast decided to extend the preferential period for its car

models at the last minute From February 12, 2020, VinFast continues to increase car

prices according to the policy of 3 without incentives, specifically VinFast Fadil cars

increase by 20 million, VinFast Lux A2.0 increase by 30 million, VinFast Lux SA2.0

increase by 50 million per version Keeping true to its commitment to customers, VinFast decided to adjust the selling price of the product, on the principle of maintaining the "3 No” policy, only gradually reducing the bonus plus

VinFast VF 5 Plus with bin: 538 million VND

VinFast Fadil Premium version: 419.100.000 VND

Promotion and direct marketing

Automobiles are considered a luxury item in Vietnam, and the Vinfast brand has yet to enter the Vietnamese market As a result, Vinfast promotes numerous promotions for car buyers, such as vinfast no interest for the first two years for customers who purchase a