FINAL EXAM
ACADEMY OF FINANCE
INTERNATIONAL TRAINING
PROGRAM

Subject: Communication
Exam code : 01

Class: K104
Duration: 24h

Open book

BANKING - INSURANCE

Question 1: What is communication? How does the communication take place?
Design a communication strategy to launch a new product of Company X.
Company X of your choice.

First and last name : Dang Thi Tra My

Student code: 1873403013006

Key/Grade: K104

Yearly: K10

STT: 05

Exam room ID: 103

Test day: 7/9/2021

Exam time: 24h

TEST: COMMUNICATION COMMUNICATIONS
Exam format: Large assignment/essay

Exam paper code: 01

Exam time: 14pm


PREAMBLE
Today, with the outstanding development of science and technology, as well as the
development of the international integration economy, we have learned a lot of
experience and absorbed many new knowledge and technologies, especially is in
the auto industry. Since then, the development of businesses is increasing, the
demand for product promotion is increasing.
On the path of integration and development, enterprises, besides acquiring a lot of
experience in the business field, in order to survive and develop, have a strong
position in the market, must also accept a competition not only in price, quality but
also in brand competition.The building of a strong brand, position and trust in the
hearts of customers is huge. Since then, building a new product promotion strategy
is not simply an increase in product sales but also an important strategy in building
a brand.
To learn more about how to promote an effective product, I chose this topic as my
research topic. In order to find effective methods of product promotion, as well as
ways to improve brand, I have chosen Vinfast as an experimental company for this
essay
CONTENT

CHAPTER 1: THEORETICAL BASIS OF COMMUNICATION
1.1. What is communication?
Communication is a process of exchanging information between a speaker and a
listener in order to achieve a certain purpose. Typically, communication goes
through three states:




2.


Information exchange, psychological contact;
Mutual understanding;
Interact and influence each other.
How does the communication take place?

Source/sender

2


When communicating a message, you need to know why you are communicating,
and what you want to communicate about or about. You also need to be confident
that the information you are saying is useful and accurate.


Message
It is an effective and important communication process in your life that you need to
follow. The message is the information that you want to convey.




Coding: communication principles in the communication process
This is the process of converting the information to be communicated into a form,
which can be presented orally or in writing, which can be successfully decoded by
the receiver. Your success in coding depends on your ability to communicate
clearly and simply, and eliminate potential distractions such as: cultural issues,
misinformation, false assumption...
Equally important is understanding your audience: Failure to understand who you
want to communicate with will lead to confusion in the delivery of the message.



Transmission channel:
Messages are transmitted mainly through 02 channels: face-to-face including
telephone, face-to-face, video chat and written channels such as emails, letters,
memos and reports.
Different channels will have different strengths and weaknesses. For example, you
should not be verbal when giving a series of lengthy examples while using a
written letter or responding to a negative opinion.



Decryption:
Encryption or decryption both require communication skills in life (including skills
such as: listening attentively or reading messages carefully), but confusion in the
encoding process will create many errors in the decoding process. code. This is an
effective communication process in life




Receiver:
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When a message is delivered to the recipient, you visualize how that person will
react or act upon receiving your message. However, it should be remembered that
each individual involved in the communication process will interpret those
messages and feelings with different attitudes. And if you want to be successful,
you need to consider those factors to convey your message and act in the most
appropriate way.


Feedback:
When receiving a communication message, surely the listener will respond in some
way. And you need to pay special attention to those responses because that will be
the only evidence that tells you that the recipient understands your message or
not. In case you find out that the person has misunderstood your message, you will
at least have a chance to re-send the message a second time.
CHAPTER 2: PRACTICAL CONTACT OF VINFAST . COMPANY
2.1. About the company VINFAST
VinFast's full name is VinFast Manufacturing and Trading Company Limited
(VinFast LLC). This is a Vietnamese car manufacturer established in 2017. The
head office of this company is located in Hai Phong. The CEO of VinFast
Manufacturing and Trading Co., Ltd. is Mr. James Benjamin DeLuca. This
company is a member of VinGroup, founded by billionaire Pham Nhat Vuong.
The car factory complex with an area of 335 hectares is located in Dinh Vu
industrial zone, Cat Hai, Hai Phong. After just over 1 year of construction, the
factory complex has been formed, most of the factories have been completed and

are assembling production lines.
The factory complex will include: operator, when producing electric motorcycles,
ancillary industrial park, training center, R&D research and development
institute. The factory produces electric cars and motorbikes with a designed
capacity of 38 vehicles/hour. In phase 1, the factory will produce 250,000 cars a
year and 500,000 electric motorbikes a year.
At VinFast, there is a 50,000 m2 engine factory. This area is where the BMW N20
engine is manufactured, equipped on Lux A2.0 and Lux SA2.0. In addition, the
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factory complex also has an auxiliary workshop and an auxiliary industrial park for
its partners.
Since its establishment until now, VinFast LLC first published the financial
statements of the business. Accordingly, in terms of financial scale, in 2019 this
brand owns VND 19,459 billion. By the end of 2019, VF had a total capital of over
90,873 billion VND.Through the report, it is possible to know the business profit
of this brand after 2 years of product launch. Specifically, last year VinFast had a
net loss of VND5,702 billion in after-tax profit, resulting in a negative profit-afterequity (ROE) ratio of more than 29%.
2.2. Design communication strategy to launch new products for the company
VINFAST company is about to launch a new product in early 2022: a new electric
car called VINFAST FURE with many new features.
Therefore, I set out a communication strategy to launch new products for the
company, including 7 steps as follows:
Step 1: Analyze the situation
SWOT STRATEGY


Strengths :
- Vinfast has stable human resources: Former vice president James B.DeLuca of

the largest US corporation in driving Vinfast. Previously, Vo Quang Hue held
the position of deputy general director, overseeing the vinfast project with 40
years of experience in the auto industry. Ms. Le Thi Thu Thuy, former vice
president and general director of VIC, used to be in charge. Vice President of
Lehman Brothers Japan, Thailand and Singapore
- Financial resources: Vingroup itself is also a strong financial group, as a
member of the group, Vinfast has great financial backing.
- Positive brand image: Vingoup has created a great buzz in tourism and real
estate, so Vinfast also inherits many of that positive brand image and
reputation.
- High degree of conformity – quality management : Investing in technology
and with a vision to the future, Vin has more advantages when not having to
bear the burden of the current system
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- Dense dealer network: Vinfast quickly acquired the entire dealer network of
GM Vietnam right before the launch of new models (including 22 dealers, 1.5
times larger than BMW). There are many shopping centers to display new
products






Weaknesses
- Vinfast is not yet a well-known brand in the market: if customers want to find
a luxury car that shows their status, Vinfast is not an option, due to many
barriers in the age of the brand. and has not yet resonated in the industry

- The cost, warranty and maintenance services have not satisfied customers:
although dealers are being spread, the source of components is being produced
at affordable prices, but the popularity of components is weak compared to
previous brands.
- The ability to market and PR for Vinfast products is not an advantage: Vin's
success comes more from thinking above the range, heat resistance, product
and service quality surpassing those of other suppliers. domestic other than
from their marketing ability
Opportunities
- Vinfast has the opportunity to create products suitable for the masses by
inheriting and leveraging technology from partners: cooperating with strategic
partners such as Italian car design companies or BMW Group
- With high support from Vietnamese users in the context of the strongest
increase in domestic consumption in Southeast Asia: vinfast is the first
company to turn the ambition of Vietnamese automobile production into
reality, with a young population and stable income. Definitely, the need to
own a car at an affordable price is extremely high
- There is great potential when meeting the mentality of Vietnamese people who
want to own a car as soon as the infrastructure is increasingly improved:
urbanization trends and people's living standards improve, creating The
demand, the tendency to want to own a car is high
Threats
- The automobile manufacturing industry is an extremely complicated industry:
Companies with many years of age still have technical errors and have to
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recall cars regularly, will a 2-year-old immature company like vinfast bear the
responsibility? hot and do well or not – this is the question that remains
unanswered

- The supporting industry in Vietnam is still in its infancy: the localization rate
is only 7-10% while the target set since 2010 is 60%.
- Extremely fierce competition: In Vietnam, cars are not only a vehicle but also
a valuable asset in the family, while the price keeping and durability of vinfast
cars have not been tested much, as well as the age. Being quite young makes it
difficult to compete with the big boys in the industry
PEST MODEL


Political Factors
- Realizing the importance of the auto industry, the government has announced
many policies to facilitate and support Vietnamese businesses to participate in this
field.
- As the first Vietnamese car brand, Vinfast also receives a lot of favor from the
government


Economic Factors

- Economic factors play a leading role and affect Vinfast's business
activities. Economic growth, inflation, average income, etc. have a great influence
on purchasing power and consumer structure
- Especially during the complicated development of covid 19, the escalating
economic situation in the country and the world also significantly affected
domestic businesses, including Vinfast.


Social Factors

- Society has many different forms and colors, creating different standard

views. These standard views have a profound influence on corporate governance of
the company
- The progress of construction of public transport works in Vietnam is still quite
slow, the shortage has a significant impact on the daily circulation, thus directly
affecting Vinfast's car consumption.
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

Technological Factors

- The 4.0 technology revolution has a very important role for the automobile
manufacturing industry in particular and other fields in general.
- Vinffast has applied high technologies, received the elite of world intellectuals into
its vehicle production system. Applying many modern electronic and computing
technologies in operation, production and consumption of products. Products
Step 2: Define communication goals


Set goals for your communication strategy:

- Short-term goal: will reach 1,000,000 people after launching the first 5 hour
advertising strategy
- Long-term goal: improve the position of the product in the market, reach 1 million
USD in revenue after 3 months of selling products, exporting to foreign markets
- Outcome goal: Sell all the products produced in the first batch, gain many benefits
in many aspects, gain consumer confidence in the product as well as the company
- Process objective : Access to fastidious markets through the results of consumption
in the domestic market and the results of analysis of the world market

- Communicating products in all aspects: word of mouth, magazines, television, etc.
- Build target towers for better performance:
o

Level 1: Raise awareness

- Learn deeply about the company's newly launched product - electric car VINFAST
FURE
- Promote the search, learn about product promotion of the employees in the
company, through training strategies
- Improve knowledge about product promotion as well as communication and
marketing
o

Level 2: Change of attitude

- Cultivate the attitude of each employee in the company in all aspects: patience,
smile, hard work, progress, ... creating satisfaction in service for each customer.
- Eliminate stereotypes about customer discrimination
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o

Level 3: Change behavior

- Each employee's behavior in the process of promoting and selling products affects
sales, so there must be strict training.
- Always act according to the organization, have a plan in place



Step 3: Identify the target audience

- Learn about market segments, customer segments, search for potential customers
- Coordinate with mass media, journalists and reporters in promoting products
- Create a positive public opinion, build a prestigious image of vinfast


Step 4: Define the content of the message

- Prepare a script for promotional communication so that you can practice
- Define a clear message: “Towards the future” – an image that illustrates the new
product, the message of the product
- Voice: The tone and tone of the voice must convey all the content and messages
about the product
- Time: Choose the golden time of the day to promote the product most effectively
- Repetition: Always repeat the message through TV advertising channels, internet,
posters, ..... increase consumer awareness.


Step 5: Design strategy and tactics
- Purpose :
o Establish business as market leader for new electric vehicle product in
public perception.
o Reach out to the international market.
- Objective:
Inform customers about the features of electric cars, incentives during
promotional events, accompanying customer care services (such as
giving discount vouchers, warranty). free car maintenance within 12
months,...)

- Strategy :
o

Launch a product promotion campaign
9


o

Organizing scientific forums, information associated with new
products and company image vinfast

- Tactic :
o
o



Press conference, interview, advertisement
Research reports, documents, information exchange forums,
incentives, ...

Step 6: Determine time frame and resources
- Divide the product promotion strategy into 3 phases:
o
o
o

Phase 1: Market exploration through the release of signals
Stage 2: Implement product promotion program

Stage 3: Continuous communication and promotion, making the most of
customers

- Allocate human resources to each stage of product promotion in accordance
with the scale, location and requirements of the program
- Operating costs: Pay attention to efficiency and use the most economical and
reasonable costs, avoiding unnecessary waste.
- Using auxiliary equipment for product promotion must be appropriate and
highly effective
- Focus on promoting products on electronic advertising channels


Step 7: Evaluate and test
- Create electronic survey and hand survey to be able to survey in many aspects
about customer satisfaction about products as well as promotional campaigns
of vinfast company
- Create channels, customer feedback forms for the new electric car line of
vinfast
- Synthesize and statistical data during and after the end of the product
promotion campaign to find out the weaknesses and take remedial measures,
in order to create the best preparation for the product as well as the strategies.
future product promotion.
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CHAPTER 3: SOLUTIONS
Product promotion is always a job that requires a high level of expertise, positive
attitude and hard work to be able to complete it well. However, mistakes cannot be
avoided. In order to reduce or prevent errors, there must be more effective
solutions. In order to improve the promotion quality of vinfast's products now and

in the future. , some proposed solutions are as follows:
- Changing people's awareness and thinking in promoting products in each
region, separate places will have separate methods of promoting products.
- There needs to be a close connection and mutual support between businesses
and agents, between agents
- Create buzz in the industry through new features, as well as proactively update
information, improve product promotion capacity
- Learn and analyze the market, customer tastes in detail, specific data
- Always receive customer feedback to learn from experience
- Thoroughly and effectively apply the incentives that the Government creates
for businesses
CONCLUDE
Taking full advantage of the opportunities of international integration of
knowledge and technology, Vinfast has boldly taken the lead in the field of
automobile manufacturing and achieved many remarkable achievements.To do
that, the product promotion strategy and vinfast's employees worked very smartly
and effectively.
“Whatever you say, the appearance of VinFast brings many positive factors to the
market. The competition for market share, gaining the trust of consumers has
become more intense and this is certainly beneficial for the market.” Vinfast is a
new name in the international car market, but for the domestic market, it is the
most anticipated name since it has not been officially launched. It can be seen that
Vinfast's marketing strategy is positioned not only in the domestic Vietnamese
market but also internationally with much larger ambitions in the future. As
Vingroup's products have proven to be of great quality in the past, Vinfast's
marketing strategy is expected to make a big difference for Vingroup and bring
Vietnam to a new level comparable to popular brands.
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REFERENCES LIST
1. Electronic Encyclopedia
2. Vinfast's website homepage
3. News magazine: What is VinFast – The journey to develop the Vietnamese
brand car industry, issue of July 27, 2021
4. SAGA Magazine: Strategic Management of Product Promotion, Issue
11/28/2017
5. Some other related documents

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