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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)

Political

Factors
 Polical
stability

In Vietnam market
Implication for Vinfast
 In South East Asia, Vietnam is one of the
 (O)Creating circumstances
most politically stable countries. (Gov.UK,

that will allow Vinfast to


2021)

improve

circulation

manufacturing

and

processes

while maintaining a reliable
supply chain. Besides, it also
presents that Vinfast could
have a great foundation to
Economic

 GDP growth  Despite
 Citizen’s
income
 Economic
openness
 Inflation
 Economic
recession

the

COVID-19


make the business progress.
epidemic,  (O) stimulate the purchase

Vietnam's economy is expected to rise at

demand

2.9 percent in 2020 (it increased at 7% in

thereby helping the company

2019). The country is rated 38th in the

increase sales as well as

world and 4th in the Association of

revenue

Southeast Asian Nations.
 The income of people from stable and
emerging economic zones is increasing



of

consumers,


(O) create conditions for the
company

to

import

raw

materials from abroad

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

8

lot

of

money

in

the


 Vietnam is a country with a relatively high

 (T) Not only does this lower


economic openness
 The manufacturing and processing price

Recession:

this

is

the number of buyers, but it
also reduces the company's

index rose 4.97 percent. (Luu, 2021)
 Economic

production process.

the

income.

consequence of the Covid 19 epidemic.
Buyers' purchasing power is being eroded
as they are forced to be more frugal with
Social

 Covid
pandemic
 Buying

habit
 Education
growth

their money.
 On January 1, the Ministry of Health  (T) The restriction of travel
announced that there were 14,822 Covid-

causes the demand to buy

19 cases, of which 216 died; 5 more cases

cars to decrease, thereby

of Omicron (VnExpress, 2021)

causing Vinfast to decrease

 Buying habit “Vietnamese people use
Vietnamese product”

in revenue
 (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
separation.

of
As

Vinfast will be

9

social
a

result,
able

to



improve

both

automobile

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
Technology

 Ecommerce
 Digital
marketing

 Technology

human

resources for Vinfast.
 The average growth rate of e-commerce in  (O) Creating circumstances
the period 2016-2019 is about 30%

for Vinfast to extend its retail

following a report by the VECOM

and online sales techniques,

(Vnexpress, 2021)

making

 Digital marketing is considered a way to
advertise items that businesses are looking
for

as

the

digital

technology


and increasing income.

are

brand

manufacturing

perception

such

as

automation, artificial intelligence, and

products

more

easily, in order to improve

incorporating new technology into their
processes,

for

customers to approach them

advertise

manufacturers

easier

era  (O) It is an opportunity to

progresses.
 Automobile

it

awareness
of

in

the

customers.

Besides, it also is a chance
to accquire and apply new

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augmented reality.

technologies in company’s
product to keep pace


with

competitors.
 (T) To produce a car, modern
technologies
acquired

must

from

be

overseas,

which quite hard for Vinfast
to

purchase

modern

equipment and necessitating
a
Legal

financial

investment.

 The Vietnamese government has tax  (O) Making it easier for

 Tax
 Safety
regulation

incentives for imported components from

Vinfast

domestically assembled companies

components

 Reduce the  The government has issued regulations
number

significant

of

gas cars in
urban areas

regarding the production of auto parts to

government

annouced


and

import
reduce

production costs as well as
increase profits
 (T) Vinfast must spend a lot

ensure the safety of passengers
 Vietnam

to

that

automobiles will be limited in inner city to

of time and money on testing
before launching

advoid traffic congestion and reduce  (T) As the number of people
carbon emissions.

driving gas cars declines,
Vinfast's sales will decline.

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 (O) It is an opportunity to
Environmen

lauch electronic car
 Transportation accounts for 24.34 percent  (O)
for
Vinfast

 Gas

tal

emissions

of annual carbon emissions. Cars account

diversification

for 44% of the total. (Ministry of natural

especially electronic car

resources and environment. 2020)

car

to
lines

 (T) Vinfast must concentrate

on

lowering

emissions
manufacturing

carbon
in

the
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

Buyer power


since it has been on the market for so long.
(T)There are currently numerous automobile manufacturers on the

Low

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market with varying pricing, giving buyers a wide range of options
when it comes to purchasing based on price and quality criteria.
(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
Supplier power
Threat of substitution

Low

opportunity, Vinfast can produce an eco-friendly Vietnam brand car.
(O) Because Vinfast is a VinGroup affiliate, it is easy for the firm to

High

obtain credit sources in a wide range of countries.
(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

Threat of new entrant


motorbike.
(O) Because the vehicle manufacturing sector is challenging and

Low

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

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(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
worldwide scale.

satisfy


customer

- Vinfast's aim is to improve the lives of Vietnamese
Vietnamese people;

and

buying

promote

the

psychology

of

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
Productivity

company's target.
- 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

System

and services.
-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


Intangible value

In

Vietnam,

preferential

the
policy
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government
for

has


(W) limit the company's distribution

expansion.
a  (S) It easy to realize that these

automobile

intangible values not only assist the


manufacturers. Besides, company already

firm in the product development

has a good brand reputation and existing

process

cutomers’ data from Vingroup. Last but not

recognition

least, Vingroup has it own website as well.

Moreover it can establish a long-term

but also increase brand

relationship
Tangible value


and

with

consumer

old

and

trust.

new

consumers
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

hour support service to assist customers in the process

purchasing.

have


any

confusion

when

of buying a car and to answer problems they may  (S) Meet the demand of product so

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have.
Price

that can create credit in customers’

perception.
- Penetration pricing is a price strategy that is ideal for  (S) With this strategy, company can
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
Promotion

revenue.
- 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

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customers, the company first used some famous
influencers such as Tieu Vy, David Beckam,....

promote the company's products.
 (S) The corporation may attract more

Furthermore, Vinfast not only promotes advertising on

fans of those influencers to its brand

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
Place

enthusiasts,

will

become

more aware of the brand.
- 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

People

will pleasure customers.

 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

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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

Process

reputation.
 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

Physical

directly.
- 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-

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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,

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

especially with electronic car line

product Moreover, company has to face to the
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.

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III. Marketing proposal

1. Marketing objective
 Selling 4000 electric cars in Vietnam from 1/1/2022 to 31/12/2022
 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.

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3. Position strategy:
 USP: In case you can not control your electric car in English fluency, Vin cars

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.
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:

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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
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.

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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,
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

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 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
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,


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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
Vietnamese movies.
- Outdoor: Time square at big cities, bus station.

Sale
promotion

- 3-zero price policy on the first day of launch
- 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 clickthrough rates.


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