TIỂU LUẬN môn ANH văn CHUYÊN NGÀNH marketing mix of vinfast

With the aim of building a high-class and recognized Vietnamese car brand in the international market, on October 2, 2018, Vinfast officially introduced two products: Vinfast LUX A2.0 an

TIỂU LUẬN MÔN ANH VĂN CHUYÊN NGÀNH

ĐỀ TÀI: MARKETING MIX OF VINFAST

Ngành: QUẢN TRỊ KINH DOANH

Chuyên ngành: QUẢN TRỊ KINH DOANH TỔNG HỢP

Giảng viên hướng dẫn: ĐINH THỊ DIỆU THUÝ

Sinh viên thực hiện: NGUYỄN HUY LUÂN

MSSV: 2119120398

TP HỒ CHÍ MINH, NĂM 2021

M c ục l c ục

I Overview of Vinfast 4

II Vinfast tops sales in 3 car segments 4

III Vinfast's leading Marketing Mix strategy 5

1 Product 5

2 Price (Price) 6

3 Place (Distribution) 7

4 Promotion (conducting trade) 7

IV Vinfast's vision and ambition 8

V The role of Marketing Mix strategy with businesses 8

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marketing mix of vinfast

I Overview of Vinfast

VinFast is Vietnam's first electric car and motorbike brand The brand belongs to VinFast Manufacturing and Trading Company Limited (VinFast LLC), belongs to Vingroup group led by billionaire Pham Nhat Vuong

With the aim of building a high-class and recognized Vietnamese car brand in the international market, on October 2, 2018, Vinfast officially introduced two

products: Vinfast LUX A2.0 and Vinfast LUX SA2 0 at the Paris Motor Show This is the first time the Vietnamese car brand is present at the world's largest auto show

Currently, VinFast is distributing electric cars and motorbikes in the Vietnamese market, in which names such as Fadil, VFe34, Lux A2.0 and Lux SA2.0

respectively rose to stand TOP best-selling cars in the segment recently In

particular, VFE34 is the first electric car model of VinFast that has achieved a record of more than 3000 orders within 24 hours from the time of sale

In the article below, Sage Academy will analyze the Marketing Mix strategy to help Vinfast take the lead in the automotive segment

II Vinfast tops sales in 3 car segments

Vinfast Lux overwhelms the E-class SUVs and the Sedan segment At the end of May 2020, Vinfast reached a total of 4,503 cars sold on the market, with Lux A2.0 and Lux SA2.0 cars growing by 61% and 60% respectively compared to the

previous month, overwhelming the entire market the entire E-class sedan and SUV segment on the market The Fadil range also grew strongly and achieved 18,016

vehicles in the whole year Summarizing 2020, VinFast is proud to be the first in sales in all 3 segments, being the first auto brand to dominate the Vietnamese

market In February 2021, Vinfast Fadil excelled at the top of the A chart with 1,090 cars sold after only 2 years of launch With that result, VinFast Fadil is far ahead of many models of big players in the industry such as: Hyundai Accent, Mitsubishi Xpander and Toyota Vios Summarizing the first 4 months of 2021, Vinfast's auto sales reached a total of 9,566 vehicles of all kinds; including 5,707 Fadil cars, 2,085 Lux A2.0 cars and 1,774 Lux SA2.0 cars In terms of market share, Vinfast increased two places in January 2021 to 4th place, with 9.4% market share, the highest figure ever Vinfast's customer segment focuses on high- and middle-income groups Customers in this segment want to own world-class cars, but

at a reasonable price, suitable for their pocket

III Vinfast's leading Marketing Mix strategy

Marketing Mix is a collection of marketing tools used to accomplish a business's marketing goals Marketing Mix will include 4 elements: Product (Product), Price (Price), Place (Distribution) and Promotion (Trade promotion)

1 Product

As of 2021, Vinfast has deployed car lines including: VinFast Fadil, VinFast Lux (including VinFast LUX SA2.0 SUV and VinFast LUX A2.0 Sedan), VinFast President and VinFast Premium (including 7 models: VinFast) Pre A Hatchback, VinFast Pre B Hatchback, VinFast Pre C Sedan and CUV, VinFast Pre D Sedan, SUV and MPV family car)

Vinfast positions its brand as “The first automobile manufacturer in Vietnam” To strengthen this brand position, Vinfast has hired two famous Italian designers, ItalDesign and Pininfarina (ItalDesign is a famous designer associated with the names of Ferrari and Lamborghini); and cooperates with well-known global

automotive engineering and manufacturing companies such as Magna Steyr and Bosch, AVL, ZF, GROB, Thyssenkrupp, AVL and MAG

The cooperation with these famous brands not only helps Vinfast have the same quality as other car manufacturers around the world, but also strengthens the image

of high-class Vietnamese cars in the hearts of users

2 Price (Price)

Pricing strategies give businesses a competitive advantage

Price includes pricing strategies that give the product a good competitive advantage

in the market, as well as a good defense against potential competitors

Back to Vinfast's target customers who want high-quality cars that are affordable Based on this demand, Vinfast has determined a price strategy that is higher than Korean-Japanese automakers, but lower than European automakers such as

Mercedes or BMW Specifically, the fadil car costs from 414 to 490 million,

slightly higher than rivals such as Yaris Toyota, I10 Hyundai, Morning Kia

LuxSA2.0 cars are 1.5 billion VND - 1.8 billion VND, competing with products in the same segment such as Honda CR-V, Toyota Fortuner, Hyundai Santafe, Kia Sorento

In addition to building a pricing strategy based on market segments, Vinfast also makes price adjustments to satisfy users The voucher program integrated by

Vinfast with the Vinhomes project is called "Elite Class" - giving a VinFast car purchase voucher worth up to VND 200 million to all homebuyers Accordingly, customers who buy any Vinhomes product will be given a car voucher

VinFast Others who buy a house under VND 2 billion will receive a voucher worth VND 70 million (applied when buying a VinFast Fadil car); from 2 to 3 billion VND will get 150 million VND voucher (applied when buying VinFast Lux A2.0 car); Over 3 billion VND will be given 200 million VND voucher (applied when buying VinFast Lux SA2.0 car)

3 Place (Distribution)

Vinfast's distribution strategy includes:

• Acquiring other distribution channels

From March 15, 2019, Vinfast officially took over the Chevrolet business under

GM This means that Vinfast will be able to use GM's production plant, sales agent and customer care system Instead of monopolizing business, Vinfast built a dealer system of two brands Chevrolet - Vinfast This distribution strategy helps Vinfast penetrate the market more easily, saving time and costs for system building and location selection

• Make wide distribution

In addition to the distribution channel at Vinfast's main dealer, Vinfast currently has more than 200 showrooms across the country to help bring products to users

In addition, Vinfast also plans to penetrate the international market On June 11,

2020, Vinfast's first showroom in foreign markets was located in Australia with a team of experts from Lord, GM,

4 Promotion (conducting trade)

Trade promotion is also known as communication activities that businesses use to reach potential customers

Marketing Management by Philip Kotler mentioned 4 main groups of

communication tools: Advertising, Events, Direct Marketing and Public Relations

Besides appearing continuously on social networks and forums and newspapers, some typical media activities of Vinfast can be mentioned as follows:

• In the first phase of market penetration, Vinfast created a media boom by using KOL "David Beckham" at the Paris Motor Show

• Vinfast implements bold sales policies such as: 3-zero price policy on the first day

of launch, "Registration 0 VND" offer, 10% discount when paying directly, interest-free loan for the first 2 years for customers who pay At the same time, the 5-year installment policy and after-sales service also help Vinfast retain old customers and even turn them into "brand ambassadors"

IV Vinfast's vision and ambition

Recently, Vingroup, said via Reuters, VinFast electric cars will be launched in the

US and European markets in 2022 VinGroup bets big on the US market with VinFast cars and hopes SUVs Electricity and battery rental models will be able to compete with major domestic manufacturers such as Tesla and General Motors (GM)

After only 2 years of launch, the Vinfast brand has overwhelmed the giants in the industry, dominated the Vietnamese market, and constantly made new strides to foreign markets Behind the success of Vinfast is the understanding of the market, customers and competitors, thereby giving the right and effective Marketing Mix strategies

V The role of Marketing Mix strategy with businesses

Marketing Mix strategy helps the product to survive long and firmly in the

competitive market At the same time, a good strategy will help link the business's production activities with the market, reach potential customers more effectively, and have a competitive advantage over competitors

GLOSSARY

2 penetration thâm nhập

4 Management Sự quản lý

5 overwhelmed choáng ngợp

8 distribution phân phối

9 channels kênh truyền hình

13 location selection lựa chọn vị trí