Team 3 SGS G12 Marketing Principles Situation Analysis Report Final

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SGS-MKTG1205B-TEAM 3-GROUP 12
TABLE OF CONTENTS
I. INTRODUCTION 3-4
1. Company Description 3
2. Product Description 3,4
II. MARKETING ENVIRONMENT 4-10
1. Micro environment
1.1 Company
1.2 Supplier
1.3 Customers
1.4 Competitors
1.5 Marketing intermediaries
1.6 Public
2. Macro environment
2.1 Demographic environment
2.2 Economic environment
2.3 Political environment
2.4 Cultural environment
2.5 Technology
2.6 Natural
III. SWOT 10-12
 Segmentation
 Targeting
 Differentiation
 Positioning
IV. STDP 12-15
1. Segmentation
2. Targeting
3. Differentiation
4. Positioning
V. CONCLUSION 18
VI. REFERENCES 19-24
VII. APPENDICES 24-36
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I.INTRODUCTION
1.Company Description
a. History
According to Honda Global, the company was incorporated as Honda Motor Co., Ltd in 1948
by Soichiro Honda - a Japanese engineer. Honda has been considered the leading exporter
to many countries and the largest motorcycle manufacturer in the world since 1989.
It officially invested in Vietnam in 1996 as a joint venture of three partners: Honda Motor
Company (Japan), Asian Honda Motor Company (Thailand) and Vietnam Engine and
Agricultural Machinery Corporation (Honda Vietnam). Honda Vietnam first received a license
from the Ministry of Planning and Investment in March 2005, encouraging it to develop and
construct cars in Vietnam (Honda Vietnam). Therefore, it has expanded and become one of
the top-selling motorcycle companies in Vietnam after more than 20 years of operation.
b. Mission Statement, Honda Vietnam’s CEO

Honda’s mission statement is to maintain a global perspective, dedicatedly provide people
with a best quality product but at an incredibly reasonable price to meet customers’ demands
with its famous slogan ‘’The Power of Dreams’’(Honda Global)
Its 2030’s vision statement is to :
- Provide people worldwide with the joy of enhancing their life’s potential
- Lead the advancement of mobility and allow all people to improve their daily life
(Honda Global).
The current Honda Vietnam’s CEO is Mr Keisuke Tsurozuno, who aims to lead Honda
Vietnam to follow directions and visions of Honda Global, continually convey the slogan
‘’The Power of Dreams’’, bring the best quality and perfect products for all Vietnamese
people (VietQ 2019).
2. Product Description
a. Features and Function

Vision is one of Honda Vietnam's (HVN) most famous motorcycles with more than 1.6 million
customers nationwide. It has a small model that measures 1,863mm long, 686mm wide, and
1,088mm tall. The Honda Vision's seat height is 750mm and weighs approximately 97
kilograms. When filled with fully oil, it will weigh about 103 kg, relatively light and low, making
it suitable for Asian body types. In terms of technology, the Honda Vision 2020 furnished
with a PGM-FI electronic fuel injection system, which is well-known for its ability to save fuel.
Honda Vision 2020 has a fuel consumption of 1.7 - 1.8 litres per 100km on mixed roads and
is one of the most fuel-efficient scooters available today (Honda Vietnam).
b. Design
Honda is a brand that, through its annual innovations, has revolutionized the construction of
vehicles and other power appliances. The Vision’s design is the first factor that contributes to
its success. Honda Vision is a naturally eye-catching motorcycle range that comes in four
versions:
● Standard version
● Premium version
● Special version
● Unique version
The modern design of Honda Vision is recognized by vivid colors yet very easy to use and
spectacular 3D logo with a portable power sector. All of the versions are equipped with
expansive legrooms, which will create a comfortable gesture for users. On the other hand,
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except for the Standard one, every version of Vision has more choices of colors, new
instrument panel and SmartKey operation.
Figure 1 : Honda Vision’s model for every version (Honda Vietnam)
c. Market Share
Due to its high-quality products and strong sales performances, HVN currently accounts for
80% of the motorcycle market share in the Vietnamese market while 20% of the remaining
belongs to other companies (Viet Nam News 2020).
d. Brand Awareness
It can be seen that Honda is one of the most famous companies in the Vietnamese market,
ranking first among the most popular car brands on Google in Vietnam, with a search
volume of 550,000 (Trung 2020). In 2019, Kelly Blue Book announced the Brand Image
Award to honor mobility manufacturers, Honda was the big winner when achieving three
awards (Honda Auto News 2019). This is an opportunity to help Honda increase the brand
attributes that customers value. Moreover, each product is processed through strict
experiments, leading to the more and more development of brand awareness.
II.MARKETING ENVIRONMENT
1.MICRO ENVIRONMENT
1.1 Company
After more than 20 years of development, Honda Vietnam (HVN) has more than 10,000
employees, three production bases, and an annual production capacity of 2.5 million
vehicles (Honda Global). Thanks to its early appearance and high-quality products, the
company has always been the best-selling motorcycle in Vietnam. Honda's success is
basically based on the continuous development, customer beliefs and programs such as
‘Young Engineers and Scientists Award’, ‘Honda Awards’,etc to improve society and create
opportunities for talents (VOV 2017). According to Dantri International (2019), Vietnam
ranked fourth in the world in terms of the motorcycle market and Honda's performance has
also overwhelmed in the Vietnamese market, which massively occupies 80% (Vietnam
News 2020).
1.2 Supplier
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For overseas operations, the strategy of Japanese motorcycle manufacturers was to
produce as many materials as possible in the country where they had invested. Honda had
particular difficulty growing local content from 2000 to 2009 due to a lack of qualified local
suppliers and a reluctance of Japanese component suppliers to invest in Vietnam. (Appendix
A)(Fujita 2008).
a. Factories :
HVN's first factory opened in March 1998 to satisfy the rising demands of Vietnamese
customers. With a $65 million investment, Honda's second motorcycle factory specializing in
producing high-end scooters and motorcycles, with a range of 500,000 units per year was
inaugurated in August 2008 (Devex 2020). $120.5 million was invested in the third Honda
factory inaugurated in 2014, which led to the domination of HVN in regional production
(Honda Vietnam)(Appendix B).
In April 2010, HVN's gear factory was completed with a capacity of 1.8 million products per
year. In 2013, this gear factory expanded to 2.3 million products. Besides, a pistol factory
with a capacity of 2.4 million products per year was built in March 2014 (Honda Vietnam).
b. Honda suppliers in Vietnam :

Hanoi Plastic Company (HPC) provides plastic parts of a motorbike: handle, protector,
housing, level, etc.
Figure 2 : Handle, protector, housing provided by HPC
Otherwise, Machinery Spare Part No.1 Joint Stock Company (FUTU1) provides cast iron
and steel parts.
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Figure 3 : Cast iron and steel part provided by FUTU1
1.3. Customers
Honda Vision is an affordable scooter with a simple design that meets the needs of many
classes of users. Besides, Vision is also suitable for many types of customers, from students
to housewives, especially those with low incomes due to attractive prices. Vision is identified
as a small scooter model for the Vietnamese market towards youthfulness and dynamism.
Accordingly, the target customers are those with individual personalities, focusing on female,
students - who are interested in fashion, beauty, and idol style.
1.4. Competitors
Yamaha Grande: (Appendix C)
One year after the first Honda motorbike was sold in Vietnam, Yamaha entered the market
on a large and big budget. Despite being the latecomer, Yamaha knows how to take
advantage of the competitive market. In 2014, Yamaha Vietnam announced the release of
Grande, the scooter that plays the role of the direct competitor of HVN (Yamaha 2020).
Accordingly, the consumption rate of 1,88 litres per 100 kilometres of Vision is higher than
Grande remarkably figure 1.69 litres per 100 kilometres (Yamaha 2020). Besides, the under-
seat storage of Vision is smaller compared to Grande. The Vision's under-seat storage has a
capacity of 18 litres, while the under-seat storage of Grande is 27 litres, which is quite broad
and deep, enough space to accommodate a large helmet (Appendix D). In consideration of
engine power, Honda Vision PGM-FI 110 cc has a maximum capacity of 8.84 horsepower at
7,500 rpm, which is more substantial than Yamaha Grande Blue Core 125 cc with the
capacity of 8.1 horsepower at 6,500 rpm (Vietnamnet 2016)
SYM Attila 125EFI : (Appendix E)
SYM Attila 125EFI has a design of low seats to fit Vietnamese customers. However, this
typical design causes the overall appearance to be less attractive. Attila 125EFI still uses its
traditional key compared to Vision’s advanced Smart Key (Appendix F). Besides, SYM Attila
125 EFI uses a 125 cc E-Power engine that produces 7.7 kW of maximum power at 8,500
rpm. Attila 125 EFI engine with the fuel consumption rate of 1.99 litres per 100 kilometres is
the highest compared to Vision and Grande. (SYM 2019).
Suzuki Address 110: (Appendix F)
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Released in 2016, Suzuki Address 110 has 20.6-liter under-seat storage, smaller than the
Yamaha Nozza (27 litres) and more extensive than the Honda Vision (18 litres). Suzuki
Address 110 Fi 2021 owns the ability to save significant fuel (1.86l per 100km) thanks to the
Japanese automaker's SEP (Suzuki Eco and Performance) technology. Suzuki Address 110
is using a 113 cc SOHC engine which produces a maximum capacity of 9.1 hp at 8,000 rpm
(Suzuki 2021)
1.5.Marketing intermediaries
a. Reseller
As HVN has no direct seller, its product sale is based on HEADs (Honda Exclusive
Authorised Dealer). HEAD network is built countrywide to deliver the best experiences as
well as convenience for customers. By April 2021, the number of HEADs is 796 (Honda
Vietnam 2021). By the early presence in Vietnam and the prestigious brand, HEAD has
helped the HVN network spread out the country, reaching all regions from urban to rural,
from the plains to the mountainous and coastal region.
Among 96 million of Vietnam’s population, there are approximately 61% online shopping
users in 2020 (Asia Plus Inc 2020), and the number of internet users has reached 68.17
million (Data Reportal 2020). Therefore, Honda is partnering with Shopee, Lazada, Tiki
(Appendix M, N, O) – three of the most used online shopping apps in Vietnam to attract
more customers and increase its scale.
b. Marketing agency
As reported by Saigonner (2018), over 80% of Vietnamese people from 18 to 30 use social
media as a source of updated news. Understanding that condition, HVN has been in
cooperation with renowned agencies to create many trending contents to easily approach
their potential customers.
Time Universal is a well-known agency of HVN with its unique website called ‘’I Love
Vietnam’’. The concept of the website originates from the thought and traffic experiences.
There is a comment section under every page to enhance the interactions between viewers
and viewers or company and viewers. Moreover, through each mouse click, viewers can
have more knowledge of Vietnamese roads’ history and facts thanks to Honda’s numerous
meaning programs such as ‘’Traffic Star’’, ‘’10 years of I Love Vietnam contest’’, etc
(Appendix J).
Another agency that is worth mentioning is Dentsu Redder. Understanding the needs of
home reunion during the pandemic, Honda with Dentsu Redder had teamed up and came
out with a touching campaign called “Đi Về Nhà” with a meaningful message behind - “Ride
to Happiness”, collaborating with the two popular artists : Den and Justatee. This
harmonious collaboration ranked #1 not only on Youtube Trending but also on Top 10
Campaigns in December 2020 (Buzzmetrics 2020), which has brought Honda ample
opportunities to expand its brand awareness.
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Figure 4 : Top 10 Campaigns in December 2020 (Buzzmetrics 2020)
Otherwise, Honda Vietnam still ceaselessly launches TVC advertisements associated with
celebrities without collaborating with any agencies (Appendix L).
1.6. Public
a. General public
According to Honda Global, “people of Vietnam have come to refer to any motorcycle they
see as a ‘Honda.’ Be it a motorcycle, scooter, or moped, and no matter what the actual
manufacturer might be, they are all called Hondas” (Honda Global). Honda is building up an
image, a model which is ingrained in Vietnamese’s soul.
b. Media Public
The average number of road deaths in Vietnam in the first six months of 2020 was 17 per
day (VNExpress 2020). By knowing the lack of education of riders, Honda cooperated with
Vietnam Television (VTV) to launch the "I Love Vietnam" series to promote road safety
knowledge. In 2020, "I Love Vietnam" returns with a new version called "Transport Fun" ,
aiming at preschoolers aged 3 to 5. This is the age of forming awareness (Tuoi Tre 2020).
The show is an animated series : 26 episodes are broadcasted on VTV3 every Saturday
night; each episode is 5 minutes. The film will also be broadcast on the official YouTube
channel and the "Love Vietnam" fanpage, POPS Kids TV and Vietnam's leading children's
education and entertainment channels. The preschool-age television and road safety "I Love
Vietnam" program will continue to expand to 100% kindergartens of 23 provinces/cities in
the 2021-2022 school year and nationwide(Tuoi Tre 2020) (Appendix I). In the next school
years, it will be carried out simultaneously with TV broadcasting to ensure that children can
obtain the full knowledge.
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HVN, also, in cooperation with the Ministry of Education and Training, provides a road safety
pilot program (Appendix K) for preschool children in 15 schools in 5 provinces/cities,
including Hai Phong, Can Tho, Lam Dong, Phu Tho and Nghe An
2.MACRO ENVIRONMENT
2.1.Demographic environment
In January 2021, the population of Vietnam was 97.75 million, had an increase of 852,000
people between 2020 and 2021 (Simon 2021). Due to the emergence of COVID-19, many
young people are severely affected by the downturn in the labour market (VNExpres
International 2021). The youth unemployment rate is 7.24%, which is 4.2 times higher than
that of people over 25 (VNExpres International 2021). For Vision, this will be a red flag
because most of its target customers are young and energetic drivers.
In small and medium-sized cities, 90% of the population still use motorcycles (Vietnam
Investment Review 2018). Motorcycles will continue to be prevailing until 2030 (Vietnam
Investment Review 2018). Therefore, with a very affordable price and good quality, Vision is
the best choice for people belonging to low-income and high-income groups. Currently,
Vietnamese may move from rural areas to urban areas (Loc, Raabe & Grote 2013). By 2020,
the urban population will be close to 36.35 million, and by 2050, this number is expected to
exceed the rural population (Statista 2021). Given the high density of urban customers and
strong economy, Vision will have more profitable opportunities to expand its market position.
In other words, more people in the city means higher requirements for fuel-saving functions
and portable design on congested streets.
2.2. Economic environment

Vietnam's economic reforms under Doi Moi, started in 1986, have transformed Vietnam from
one of the poorest countries to a middle-income country in the past 30 years. Compared with
2018, Vietnam's GDP has increased significantly by 7.62% in 2019 (Vietnam News 2019).
However, due to the COVID-19 pandemic, the economic growth in many countries is
declining. The Vietnamese government also lowered its 2020 economic target from 2.5% to
2% (NikkeiAsia 2020). In the first quarter of 2020, Vietnam sold 1.35 million motorcycles,
decreased 14.8% compared to the previous year (Vietnam Investment Review 2020). This is
due to lower demands since people tend to buy essentials such as rice and canned food
while being locked down.
However, with strong fundamentals and safety measurements, the Vietnamese economy is
expected to recover in 2021 (The World Bank 2021) and grow significantly 7.3% in 2021 and
6.8% in 2022 (Focuseconomics 2020). Vietnam's growing middle class is 13% and is
expected to reach 26% by 2026 (The World Bank 2021). Also, Generations Y and Z are the
main purchase groups and ceaselessly contribute to the business evolution. These key
trends are bullish signs for Honda as Vietnamese will prioritize quality over price sensitive in
the future.
2.3.Political environment
The policy of industrialization and modernization indicates the official concept of evolution
(Mazyrin 2013), which is a perfect opportunity for foreign companies like Honda to promote
investment and ensure their products’ position in the competitive Vietnamese market.
However, Viet Nam is believed to be a politically sustainable country among South East Asia
countries (GOV.UK 2020) as its 2019 political stability remained at 53.81% (Trading
Economics).
Vietnam's revised Law on Investment 2020 (National Assembly) (Law No.61/2020/QH14)

went into force in 2021, replacing Law on Investment 2014 (Law No.67/2014/QH13). Its
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objectives are to introduce a "negative list" for external investment, enhance ownership
thresholds for treatment as a national investor, create new investment initiatives and added
measures to control investment procedures (Samuel & Matt 2020).
Also, for many years, Vietnam has been in contact with consensual 'Free Trade Agreements'
with countries (Shiza 2021). As a well-known company, Honda will be beneficial to attract
various local and foreign investments in this circumstance.
2.4.Cultural environment
The two-wheelers industry has been setting up a fertile market in Asian countries for a long
time. According to Dantri International (2019), 8300 motorbikes were sold in the first half of
2019 in Vietnam. Moreover, since Vietnam is a developing country, it is quite hard for the
Vietnamese to buy a middle-class automobile. Therefore, a motorbike is more of an
affordable choice. It has a portable design, which is easy for every kind of person to flexibly
ride on narrow Vietnamese roads and a suitable lightweight frame for the small shapes of
Asian people.
Assuming that motorbikes are valuable assets of Vietnamese culture is not exaggerating as
people can use them for various purposes from commuting, carrying goods to earning a
living by just a vehicle. Many foreigners find it interesting to experience riding a two-wheeled
vehicle in such crowded streets when travelling in Vietnam.
2.5.Technology
According to Strategy& (2016), not only Honda but also other competitors consider
‘Research and Development (R&D) as a significant key and have been investing a huge
amount of money on it to come up with new revolutionary technologies. For instance,
according to PWC (2015), with a hope to create better products for the customers, Honda
has invested about 5.9 billion USD in R&D. As expected, Honda has impressed the
customers with the development in the technology of the two latest versions of Vision in
2020 and 2021 such as providing an anti-theft device called 4 in 1 ‘Smart Key’ system along
with ‘Idling Stop’ – a system which automatically stops the engine when the motorbike is
stopped in order to cut out wasteful fuel consumption, etc (Honda Global).
2.6. Natural
Ho Chi Minh City, along with Hanoi, ranked first and third in the ‘Top 3 World’s Most Polluted
Cities’ (Air Visual 2019). Acknowledged the situation, more and more motorbike companies
become aware of social responsibility and start working on environmentally-friendly
products. HVN has not only accomplished outstanding achievements but also productively
came up with many different campaigns in order to protect the environment. In particular,
Honda has launched a ‘Protect the Environment’ campaign (2019-2030) with their “Ba
không” standpoint: No leaking CO2, No energy errors, No errors in using resources and
releasing wastes (VOV).
III.SWOT ANALYSIS
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STRENGTHS WEAKNESS
STRONG BRANDING & POSITION : PRICE DISTURBANCES

With over 80% of the market share (Viet Honda's selling price is unstable since
Nam News 2020), Honda has succeeded Honda and HEAD are two separate legal
in building their prestige. entities. Therefore, Honda has no right to
intervene in HEAD's sale prices => the
BUDGET-FRIENDLY PRICE : price gap in HEAD branches has caused
Honda products are sold at various price price instability.
ranges for different demands and
customers’ preferences. SMALL TRUNK:
The trunk is quite small compared to
HIGH-QUALITY PRODUCTS: other brand motorbikes.
Honda improves its products annually
and always comes out with high-quality
products such as prioritizes durability and
fuel efficiency
WIDE RANGE OF PRODUCTS:

To provide customers with more options,
Honda particularly focuses on
diversifying their product lines which
other brands do not have.
MARKETING :
Honda has been launching numerous
social and environmental campaigns, not
only to raise awareness but also to
enhance their brand recognition.
DYNAMIC COVERAGE :
There are nearly 800 Honda authorized
stores across the country.
Manufacturers and suppliers are also
internal which will ensure the products are
always available.(Honda Vietnam)
OPPORTUNITIES THREATS
HIGH DEMANDS: CUSTOMERS’ BEHAVIOURS :

With a population of over 90 million people The decision-making process of
(Worldometer 2021) and where the main customers is not always stable all the
transportation is motorcycles, Vietnam is a time. Furthermore, the standpoint :
promising market for Honda Vietnam. 'Vietnamese people prefer to use
Vietnamese products' will be a significant
CUSTOMER TRUST: problem for foreign companies like Honda.
Honda was developed for a long time and
its products are prestigious so they did not GOVERNMENT FORCES:
need much time to gain customers’ The government has several policies to
trust. When Honda introduces new increase the vehicle tax and decrease
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products, customers will still pay the fuel to prevent pollution. According to
attention to. Chairman Nguyen Duc Chung, Hanoi will
ban motorbikes by 2030 if the public
RISING IN LIVING STANDARDS: transportation systems are good enough
As people have higher income and living (VNExpress International 2019).
standards, they will be more
environmentally-conscious. It will be an STRONG COMPETITORS:
opportunity for several Honda’s eco- The more our world develops, the more
friendly models. competitive it gets in the market. Honda
cannot control the market completely
when other companies try to attract
consumers.
IV.CUSTOMER-DRIVEN MARKETING STRATEGY (STDP)
1. Segmentation
Segment Demograph Psychograp Behavioural Geographic

ic hic Characteristics Characteristic
Characteris Characteris s
tics tics
Teenager · Age: 18 – · Social · Occasions: Daily Urban and

22 class: basis rural
Middle class
· Gender: · Benefits sought:
All · Lifestyle: - Affordable
This - High quality
· Income consumer - Fuel-efficient
level: low or segment's - Modern design
no income. lifestyle - Various color options
revolves - Large trunk
· Family around
cycle: schoolwork. · User Status: first time
Single or in They will user
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a spend their · Usage rate: Heavy
relationship. leisure time users
on
weekends. · Loyalty: High
·
Personality
characterist
ics:
energetic,
youthful,
creative.
Young Adults · Age: 23 – · Social · Occasions: Daily Urban and

35 class: basis rural
Middle class
·Gender: All · Benefits sought:
·Lifestyle: - Affordable
·Income This - Fuel-efficient
level: low to segment of - Fashionable design
middle customers - Lower insurance costs
income. do not have - Large trunk
much time
·Family since they · User Status: first time
cycle: are busy user or ex-user
Single, with their
married, careers or if · Usage rate: Heavy
have they have users
children. families,
·Loyalty: Medium to low
they are
responsible
for their
family and
children
also.
· Personality
characteristic
s: energetic,
ambitious.
Middle-aged · Age: 36 – · Social · Occasions: Daily Urban and

adults 55 class: basis rural
Middle class
· Gender: All · Benefits sought:
· Lifestyle: - Affordable
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- Fuel-efficient
· Income The - Lower insurance costs
level: low to lifestyles of - Buy for their children
middle this
income. customer · User Status: first
segment are time user or ex-user.
· Family often
cycle: eventful as · Usage rate: Heavy
married, they spend user
have most of their
children. time caring · Loyalty: Medium to
for their low
families and
children.
·Personality
characterist
ics: More
careful and
responsible.
· Age: Older ·Social ·Occasions: Daily basis Urban and

than 55 class: rural
Older adults Middle class ·Benefits sought:
· Gender: All - Affordable
·Lifestyle: - Fuel-efficient
·Income The - Compact
level: low to consumer - Lower insurance costs
middle segment’s - Buy for their children
income. lifestyles
also become · User Status: ex-users
· Family more
cycle: have relaxed as · Usage rate: Light to
children. their children medium users
grow up.
· Loyalty: Medium
Furthermore,
they do not
have to be
concerned
with their
jobs
anymore
and can
maintain
their lives
with
pensions or
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savings.
·Personality
characterist
ics:
cultured.
2. Targeting
Honda Visions' marketing strategy is aimed at students and young people, especially women
in these two age groups. Honda Vision has compact, feminine and multi-colour options that
complement the current young generation's fashion style. The youth slogan "Be U with
Honda" (Honda 2020), together with the ambitious radio advertising strategy, aims to create
a youth symbol for Honda. Besides, HVN has also produced many promotional videos
(Appendix P), the content of which is very vivid, with many young singers and actors from
Vietnam such as Jaime and Toc Tien. In this way, HVN displays its target customers as
products designed to meet the needs and preferences of today's young people.
To adapt to market trends and provide good services to target customers, HVN decided to
develop differentiated marketing strategies. Honda Vision 2020 is available in 4 different
versions to meet the needs of many customers:
1.The standard version retains the traditional color scheme. Black and red, suitable for
people who like femininity.
2. Unique versions in black and gray and black and white, equipped with Smart Key and
innovative LED technology, are ideal for technology enthusiasts.
3.The premium version (mainly white, blue and red) is a good choice for luxury
connoisseurs.
4. Honda Vision has launched a unique version with multiple points in its recent release,
designed to fully release the spirit of sports and attract customers who like dynamic beauty
(Motosaigon 2020).
In addition to promote, HVN also offers other free services, such as Honda helmets,
subsidized transportation document registration or regular free services at the Honda
Center. This strategy was highly praised by customers and received positive feedback from
the public (Marketing AI 2020).
3. Differentiation
a. Product Differentiation
Selling in a country where motorbike sales ranked second in ASEAN (Motorcycles Data
2020), Honda utilizes this opportunity to develop various product lines to suit customers’
preferences with these three core criteria: dedicated services, long-term use and reasonable
prices. Thanks to the solid sales, Vision 2020 returned with lots of developments in
technology which are considered the second major transformation since 2014. So far, Honda
has developed four different versions for its best-selling products namely Premium, Special,
Unique and Standard. Vision is mainly known as a motorbike line for women, however, with
the appearance of the Unique version which is targeted to the male customers, Vision now
becomes a dynamic motorbike for both genders. Also, Vision is known for its lightweight and
modern design. Compared to the Yamaha Grande, Vision is 3 to 4kg lighter, which made
this motorbike well-known and suitable for any customers.
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b. Service Differentiation
Not simply just selling motorbikes, Honda also wants the customers to experience both high
quality products and dedicated services. Taking into action, Honda holds an annual
competition called “Best Customer Relationship Employee of the Year'' for the
employees to gain essential knowledge and skills in consultation (VNExpress 2020). On its
official website, Honda always provides detailed specifications and images for the customers
to have a clear insight of the products they want. When shopping at HEADs, customers will
receive gifts such as helmets, raincoats, etc. In 2019, Honda cooperated with FPT Software
to launch a “all in one” application called “My Honda +” (FPT 2019). With promising
functions, this application is expected to improve customers’ experiences by solving
common problems.
c. Channel Differentiation
Being known as a national motorbike brand in Vietnam, Honda has 796 authorized retailers
or HEAD Honda across the country (Honda Vietnam 2021). Knowing the importance of
selling online in the 4.0 revolution, especially during the pandemic, Honda products are
distributed in many popular online shopping apps (Shopee, Tiki, Lazada) with almost the
same benefits as purchasing at store. Furthermore, customers can pay in installments with
0% interest on these online shopping apps.
d. Image Differentiation
Established in 1996, Honda - an utterly unfamiliar brand from Japan is now considered the
industry-leading motorbike brand in Vietnam. Along with a series of great product lines are
practical yet impactful advertisements and campaigns that have made Honda a national
brand. Over the past few years, Honda has launched many different campaigns such as
“Traffic Safety with Honda Vietnam”- an annual collaboration of Honda and the National
Committee for Traffic Safety to give away over 110,000 free helmets to raise awareness
among the public (Vietnam+). Honda has succeeded in proving itself is more than just a
motorbike brand and made the signature red wing logo ingrained in every Vietnamese mind.
4.Positioning
According to Furnell (1992), organizations’ elevated reputations, customer loyalty, reduced
furniture transaction cost result from customer satisfactions. That’s why there are several
unique strategies from motorbike companies to specialize their products’ quality as well as
differentiate their brands in Vietnamese market.
POSITIONING MAP 1
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Fuel Efficiency : Although Honda is famous for fuel efficiency, it seems the Yamaha Grande
with its Blue Core engine is doing a better job in fuel economy with the fuel consumption rate
at 1.69 liters per km. More surprisingly, Vision has the second highest fuel consumption
among the compared motorbikes.
Weight : Since most of Vision's customers are women, Honda mainly focuses on minimizing
the vehicle's weight as much as possible to improve customers' satisfactions. As expected,
many customers have chosen Vision over other brands because of its light feeling.
According to Yamaha's official website, Grande Hybrid's weight is 100kg, 3-4kg heavier than
Vision (Yamaha Vietnam 2020). Therefore, the lightweight factor is now considered one of
Vision's outstanding strengths compared to other competitors, specifically Grande from
Yamaha – Honda's direct competitor.
POSITIONING MAP 2
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Price : Honda targets Vision at different customer groups, ranging from middle to upper-
class; therefore, the company uses a strategy that focuses on mid-range products with a
high quality but at an affordable price. With its incredible quality, Honda Vision’s price is
affordable compared to other competitors and much lower than Yamaha Grande – their
biggest competitor. Therefore, with under 30 million VND, customers can have various
options depending on their demands, while it can cost up to 50 million VND for a Yamaha
motorbike. The table below illustrates the price between Honda Vision and other brands
Value proposition
According to the two positioning maps, it can be seen that Honda has succeeded in
providing high-quality products and adjusting an affordable price for their target customers
with the “More for the same price” proposition strategy. Although Honda Vision’s price is
relatively high compared to other competitors, the outstanding benefits are the proof why it is
worth the money. Continuously improving technological features in every version, classy
design with numerous color options and most importantly, a budget-friendly price. Therefore,
it is easy to understand why Honda or particularly Vision, became well-known and is
commonly used by the Vietnamese
V.CONCLUSION
To conclude, Honda Vision, a motorcycle with a modern design and affordable price, has
become the "national" motorcycle for most Vietnamese. For some, it is a fashion, a
standard of beauty.
Besides creating superior products, HVN is also focused on promoting marketing through
a wide variety of the media.
Today, there are dozens of foreign and domestic brands coveting Honda’s market share.
Honda is even exposed to the risk of market saturation and the diversity of customer
psychology. These warnings will force Honda to expand its potential segment by further
improving its product to attract customers and differentiate itself from its competitors.
Therefore, Honda's top priority now is to continue to thrive to protect its position from
dangerous competitors.
Page 18 of 36
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Page 23 of 36
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Page 24 of 36
VII.APPENDICES
Page 25 of 36
Appendix P: Honda Vision’s advertisement on Youtube
(Source : https://www.youtube.com/watch?v=AdAimEhaF4M)
Appendix A : Local Sourcing of Honda Vietnam

(Fujita, Mai. 2008, ‘Value Chain Dynamics and Growth of Local Firms: The Case of
Motorcycle Industry in Vietnam’, IDE Discussion Paper, No. 161. 2008.7)
Page 26 of 36
Appendix B : Honda Vietnam Motor Cycle No.1,No.2, No.3 Factory
(Hazama ando corporation, viewed April 13, 2021,
< https://www.ad-hzm.co.jp/english/works/overseas/production_c/production_c_06.html >)
Appendix C: Yamaha Grande

(Yamaha 2020, viewed April 13, 2021, <https://yamaha-motor.com.vn/xe/grande-hybrid-
moi/> )
Page 27 of 36
Appendix D : Under-seat storage : Vision (Left) vs Grande (Right)
(VietNamNet News, ‘So sánh hai chiếc xe tay ga Honda Vision và Yamaha Grande
– VietNamNet’ , view 12th April 2021
<https://vietnamnet.vn/vn/oto-xe-may/so-sanh-hai-chiec-xe-tay-ga-honda-vision-va-yamaha-
grande-337661.html >)
Page 28 of 36
Appendix E: Sym Attila 125 EFI
(SYM Việt Nam, ‘ATTILA TRỞ LẠI HOÀN TOÀN MỚI’, viewed 12 April 2021
, < http://www.sym.com.vn/tin-tuc/attila-tro-lai-hoan-toan-moi-112.html > )
Appendix F: Suzuki Address 110 Fi
( Suzuki Việt Nam, ‘SUZUKI ADDRESS CẬP NHẬT PHIÊN BẢN MỚI 2021, GIÁ CHỈ 28,29
TRIỆU’, viewed 12 April 2021, <https://suzuki.com.vn/tin-tuc/tin-tuc-xe-may/650-suzuki-
address-phien-ban-2021>)
Page 29 of 36
Appendix : VinFast Klara
(VinFast 2020, viewed 12th April 2021, < https://xemaydien.vinfast.vn/en/klara/ >)
Appendix K: “I Love Vietnam" airs on POPS Kids TV - the leading educational and
entertainment channel for children in Vietnam
(Source: <https://www.youtube.com/watch?v=etiQxzxLfuA>, viewed 16th April 2021 )
Page 30 of 36
Appendix I : Kindergarten 1-6 (Hai Phong) guides children about traffic safety
(Tuoi Tre 2020, ‘ Honda Việt Nam tổng kết chương trình tôi yêu Việt Nam 2020-2021’, view
12 April 2021, < https://tuoitre.vn/honda-viet-nam-tong-ket-chuong-trinh-toi-yeu-viet-nam-
nam-2020-2021-20210325101339237.htm >)
Page 31 of 36
’
Page 32 of 36
Appendix J : Honda Vietnam’s ‘’I Love Vietnam’’ website
Appendix L : Honda’s Vision advertisement
(‘Quảng cáo HONDA 2018’, viewed 16th April 2021, <https://www.youtube.com/watch?

v=r0fLVOtxaDY> )
Page 33 of 36
Appendix M : Honda’s products on Shopee (Shopee n.d, viewed 17th April
2021,<https://shopee.vn/hondasaigonezi> )
Page 34 of 36
Appendix N : Honda’s products on Tiki (Tiki n.d, viewed 17th April 2021,
<https://tiki.vn/thuong-hieu/honda.html?src=static_block&_lc=Vk4wMzkwMDcwMTI
%3D&ref=main-category-banner> )
Page 35 of 36
Appendix O : Honda’s products on Lazada (Lazada n.d, viewed 17th April 2021,
<https://www.lazada.vn/products/tra-gop-0-xe-may-honda-winner-x-the-thao-phien-ban-
2020-i818828510-s4741478887.html?
spm=a2o4n.searchlistcategory.list.1.7d5921caFANFDo&search=1> )
Page 36 of 36

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Page 1 of 36

b. Mission Statement, Honda Vietnam’s CEO

a. Features and Function

Figure 1 : Honda Vision’s model for every version (Honda Vietnam)

b. Honda suppliers in Vietnam :

Figure 2 : Handle, protector, housing provided by HPC

SYM Attila 125EFI : (Appendix E)

Suzuki Address 110: (Appendix F)

2.2. Economic environment

Vietnam's revised Law on Investment 2020 (National Assembly) (Law No.61/2020/QH14)

STRONG BRANDING & POSITION : PRICE DISTURBANCES

WIDE RANGE OF PRODUCTS:

HIGH DEMANDS: CUSTOMERS’ BEHAVIOURS :

IV.CUSTOMER-DRIVEN MARKETING STRATEGY (STDP)

Segment Demograph Psychograp Behavioural Geographic

Teenager · Age: 18 – · Social · Occasions: Daily Urban and

Young Adults · Age: 23 – · Social · Occasions: Daily Urban and

Middle-aged · Age: 36 – · Social · Occasions: Daily Urban and

· Age: Older ·Social ·Occasions: Daily basis Urban and

Buzzmetrics 2020, BSI Top 10 Campaigns in December 2020, homepage, Buzzmetrics,

Dantri International 2019, ‘Vietnam has 4th-highest number of motorbikes’, Dantri

Dat, N 2020, ‘Vietnam’s motorbike sales second highest in ASEAN’, VNExpress,viewed

Devex 2020, Honda Viet Nam, Devex, viewed 12 April 2021,

Focuseconomics 2020, ‘Vietnam Economic Growth’, Focuseconomics, viewed 13th April

Indolino, E 2016, ‘Easy Riding – Investment Opportunities in Vietnam’s motorcycle Industry’,

Mazyrin, MV 2013, ‘Economic Modernization in Vietnam from Industrialization to Innovation

Simon, K 2021, ‘Digital 2021 : Vietnam’,homepage, Datareportal,viewed 15th April 2021,

Trading Economics, ‘Vietnam – Political Stability And Absence of Violence/Terrorism:

VietnamPlus 2019, ‘Vietnam motorcycle market ranks 4th in world’, VietnamPlus,

VinFast 2020, viewed 12th April 2021, < https://xemaydien.vinfast.vn/en/klara/ >

Appendix A : Local Sourcing of Honda Vietnam

Appendix C: Yamaha Grande

Appendix F: Suzuki Address 110 Fi

Appendix L : Honda’s Vision advertisement

(‘Quảng cáo HONDA 2018’, viewed 16th April 2021, <https://www.youtube.com/watch?

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