GROUP ASSIGNMENT COVER SHEET

STUDENT DETAILS
Student name: Đoàn Lê Hoài Thương Student ID number: 21000874

Student name: Nguyễn Xuân Lộc Student ID number: 21001315

Student name: Đào Hoàng Anh Student ID number: B1112014649

Student name: Lê Doãn Trường Student ID number: B1112013720

Student name: Phạm Thi Thi Student ID number: B1112014683

Student name: Phan Ngọc Nguyệt Nhi Student ID number: B1112014674

Student name: Phan Thanh Nhật Student ID number: B1112012673

UNIT AND TUTORIAL DETAILS

Unit name: Principles of Marketing Unit number:
Tutorial/Lecture: Class day and time: Wednesday 8:00-11:15
Lecturer or Tutor name: Ms. Hang Nguyen

ASSIGNMENT DETAILS

Title: Group 5_Honda

Length: 2148 Due date: Apr 4 at 11:59 pm Date submitted: Apr 4 at 11:50 pm

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Student’s signature: Đoàn Lê Hoài Thương
Student’s signature: Nguyễn Xuân Lộc
Student’s signature: Đào Hoàng Anh
Student’s signature: Lê Doãn Trường
Student’s signature: Phạm Thi Thi
Student’s signature: Phan Ngọc Nguyệt Nhi
Student’s signature: Phan Thanh Nhật

Note: An examiner or lecturer/tutor has the right to not mark this assignment if the above declaration has not
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Table of content
1. Abstract 1
2. Introduction 1
2.1 Company description 1
2.2 Product description 1
3. External environment 2
3.1 Microeconomics 3
3.2 Macroeconomics 3
4. SWOT analysis 5
5. STDP analysis 6
5.1 Segmentation 6
5.2 Targeting 7
5.3 Differentiation 7
5.4 Positioning 8
6. Marketing mix 10
6.1 Product 10
6.2 Price 11
6.3 Place 11
6.4 Promotion 12
8. Reference 15
9. Appendix 21
Visual support 21
Campaigns 24
SWOT analysis in detail 28
1. Abstract
The report's goal is to give a more in-depth examination of Honda's marketing approach.
It will begin with a brief overview of Honda, well-known as one of Vietnam's most
popular motorbike companies. Then, it conducts more in-depth research of rivals,
customers, and the SWOT analysis to discover the brand's strengths, weaknesses,
opportunities, and threats. Finally, more research is conducted on STDP analysis and the
Marketing Mix of 4Ps to comprehend Honda's main success reasons fully.

2. Introduction
2.1 Company description
Founded in 1948, Honda is a Japanese multinational corporation major manufacturer of
vehicles. In 2007, the corporation made a strong impression under "The Power of
Dreams."

Meanwhile, in Vietnam, Honda’s slogan is “Tôi yêu Việt Nam,” where it made its first
footprint in 1996. Honda Vietnam is indeed a joint venture between three partners, Honda
Motor Company (Japan), Asian Honda Motor Company (Thailand), and Vietnam Engine
and Agricultural Machinery Corporation (Honda VN, n.d.). Over the past years, Honda
Vietnam has continuously developed and become the leading vehicle manufacturer. At
the moment, Honda is working toward its 2030 Vision to serve people worldwide with
the “joy of expanding their life’s potential” (Honda, n.d.).

2.2 Product description

This report focuses on Honda's motorcycle lines. These items are all tailored to the many
lifestyles that Honda Vietnam desires to appeal to. Honda also provides consumers with
several valuable features, such as fuel efficiency and driver safety. In addition, they pay
special attention to youthful and modern designs in several product lines to appeal to
young people.

According to Statista (2021), Honda has the largest market share in Vietnam,
approximately 80% of motorcycle market revenue in Vietnam. According to the W&S
Market Research (2015), Honda is the most popular consumer's mind, with 79% of the
top mind awareness and 100% of total awareness. Furthermore, 75.4% of Honda
customers discovered the company through newspapers, television, and the Internet.

Motorcycle market revenue in Vietnam

3. External environment
3.1 Microeconomics
a. The Company: Honda introduce new categories of motorbikes, Join “Quy
Phong Chong Dich covid 19” in 3/2020, give HR-V to Medical department with
12 billion VND, supported two covid-19 testing machines and ten ventilators for
helping authorities and people of Vinh Phuc and Ha Nam provinces where Honda
located a production plant (Van Xuyen, 2021).

b. Suppliers: Honda accounts for 90% of transportation in big cities (Honda,

n.d.). Until now, it has six factories to produce products and assemble accessories
for cars and motorbikes

c. Marketing Intermediaries: The resellers have a deep understanding to help

them sell products more efficiently.

d. Competitors: Yamaha is one of the competitors in the motorbike and car

power products market in Viet Nam (Shastri, 2021).

e. Publics: Honda focuses on the extent of safety and saving materials, the
smoothy and modern car.

f. Customers: Honda worked to maximize customer satisfaction. The evidence is

the communications policy of ‘120% Quality’ (Honda sustainability report, 2021).

3.2 Macroeconomics
a. Demographics: From 2002 to 2020, GDP/person increased by 2.7 times,
reaching nearly 2,800 USD. Also, during this period, the poverty rate dropped
deeply from more than 32% in 2011 to less than 2% in 2020. (World bank, 2022).
The developed economy changed the consumption habits of customers in Viet
Nam. The need to buy a car increases, causing some difficulty for the motorbike
industry (World bank, n.d.).
b. Economic environment: Interest rates remain high, and exchange rates
fluctuate so complicated that importing motorbike accessories to serve the
nation's needs meets numerous difficulties. Consequently, the price of production
is higher, sales are harder, and competition.

c. Natural environment: According to Honda Global (n.d) to be friendly with the

environment, Honda would focus on three factors:
● Carbon neutrality
● Clean energy
● Low resource circulation

d. Technological environment: Although VietNam’s technological development

level is still low, with the support of foreign corporations, the domestic
motorcycle industry is still unsustainable and less profitable.

e. Political environment: Traffic jams in VietNam are a widespread issue, and

citizens’ cultural traffic is low. Therefore, the government encourages motorbike
use which creates high pressure on the motorbike cycle industry.

f. Cultural environment: Viet Nam’s customers tend to choose Honda because

of the quality that they believe from the old series.
4. SWOT analysis

Strengths Weaknesses

- Powerful brand equity - ‘Price disturbances’ of the company’s

- Strong position in the Vietnam product. Poor control of the retail
motorcycles market distribution system
- Huge investment in Research & - Technical error
Development (R&D)
- Diversified product portfolio
- Concentrating on quality
- Innovative marketing strategy
- Stable pricing strategy
- Social responsibility

Opportunities Threats

- Consistent demand in Vietnam - Impact of Covid-19 on revenue

- Collaborating with others to - Competitors in the same segment
manufacture new products that fit - Demand for electric cars has increased in
modern preferences (Sony) recent years because of environmental
- Cheap labor costs in Vietnam would friendliness (VinFast)
minimize production costs and - Public transport services are increasingly
maximize profits for Honda convenient and developed in Vietnam
- The growing Vietnamese economy (HCMC & Hanoi Metro, VinBus)
means more purchasing power for - Government regulations of banning
consumers and opportunities for Honda motorcycles in Hanoi
to expand the market
- Attracting large investments and
profitable contracts as Vietnam
promotes international cooperation.
5. STDP analysis
5.1 Segmentation
Honda can narrow the diverse target consumers into particular and closely defined groups
by employing the segmentation approach.

Geographic Rural area Concentrate on urban

Urban area area

Demographic Age: > 18 Age: > 18 Age: > 22

Gender: Both Gender: Both Gender: Both
Income: Low-middle Income: Upper-middle Income: High income
income income

Psychographic Social Status: Lower Social Status: Social Status: upper

Personality: price upper-middle, middle Personality:
concern Personality: - Important design
- Don't pay much and brand
attention to the - Like to collect
price
- Price match the
quality

Behavioral Occasions: daily uses
Benefits sought:
durability, less fuel
consumption,
middle-quality
Occasions: daily uses Occasions: daily uses
Benefits sought: Benefits sought:
durability, beautiful, trendy, beautiful,
middle-quality limited, luxury, high
quality
5.2 Targeting
a. Target customer: In the past, Honda's clients were primarily from the middle
class and mainly targeting the age group of above 30 – 51 which was based on
geographic segmentation (Aditya Shastri, n.d.). However, in recent years, Honda
has established a new market category for younger drivers and families, which
has a strong market structure and will eventually contribute to increased corporate
sales. In addition, customers of Honda Motors are concentrated on middle-income
people looking for a vehicle that fits their budget and is also worth the money
(Bhasin, 2018).

b. Marketing strategy: Honda has traditionally spent a lot of money advertising

in local markets. The Honda City, Civic, and CBR motorcycles are constantly
promoted in newspaper and magazine advertisements (Pratap, 2018). Besides that,
the advertising and promotion strategy now includes a significant amount of
digital advertising (Pratap, 2018). Because many customers spend the majority of
their time online, digital advertising has become critical for an automotive brand.
Honda develops differentiation strategies in various ways, including focusing on
product reliability, durability, benefits, and distinctive features, and developing
strong brand recognition (Harvey, 2018).

5.3 Differentiation
According to Bhasin, Honda employs a differentiating focus strategy to choose the
designated group to whom the specific product or service can be delivered.

5.3.1 Product
In 1953, Honda created a communications policy of “120% Quality'', different
from other brands (Honda sustainability report, 2021). Honda has established a
quality process that continuously improves quality at every stage to strengthen
consumer trust by producing goods founded on safety and providing a new level
of outstanding quality: design, development, manufacturing, sales, and after-sales
support.
 5.3.2 Service
According to Honda's service, maintenance & safety recalls, Honda created a
scheduled service for customers to make an appointment on their phones. In
addition, in 2018, Honda established the Honda Owner Workshops (HOW) in
each state of the USA to allow the customers to know clearly how to keep their
durability and learn more about the great technology of Honda. Moreover, this
brand also creates a technology named Multi-Point Inspection (MPI) for cars that
help customers to know which part of the car needs to be paid attention. Honda
makes a difference because these services are free.

5.4 Positioning
5.4.1 Positioning map

Honda has positioned itself to be a value-based firm whose goal is to enrich

people's lives worldwide and offer them the opportunity to enjoy their lives
(Bhasin, 2018). Comparing the two popular models of Honda and Yamaha, it is
clear that Honda's Wave is cheaper than Yamaha's Sirius because Wave is 17,890
million dong while Sirius is around 19 to 21,8 million dong (Duy, 2021).

5.4.2 Value proposition

Value proposition of Honda is “to provide products and services that expand
people’s dreams and potential” (Honda The Power of Dreams, n.d.).
6. Marketing mix
6.1 Product

Product line
- Maslow's Hierarchy Need: The company's goal is to meet consumers'
psychological needs. So Honda puts the quality of the car on the top. Only in
recent years, when the quality of people's lives has improved, people also want to
own a vehicle that is both durable and beautiful, then Vision with a streamlined,
elegant, and youthful design was born.
- Core customer values:
● High quality, durable
● Reasonable price
● Energy-saving
- Diversity: Honda's marketing strategy for products is a product diversification
strategy. Product diversification is an effective strategy to renew itself, increase
sales, expand market share, and improve competitiveness. With the orientation of
product diversification, Honda Vietnam has many products which are suitable for
each age, gender, and the economic situation of each family.
- High quality: Honda Vietnam always sets quality as the first criterion to serve
customers. Product quality is very durable, high in safety, and especially suitable
for traffic conditions in Vietnam, along with thoughtful after-sales services Honda
 Vietnam products. As a result, more than 2.5 million products have been loved
and used by customers across the country (Vir, 2022).

6.2 Price
- Target customers: Average income class in society. However, Honda did not stop
there, they had high-class products imported from abroad to reach high-class
customers.
- Product Pricing Strategy: With different values, each type of Honda product
also has different pricing. This is the value-based product pricing strategy that
Honda is applying.

6.3 Place

Honda implements indirect distribution networks, divided into two categories:

a. Exclusive distribution
Honda distributes high-end product lines such as SH, LEAD to huge facilities like
HEAD stores located in major cities, specifically Hanoi and Ho Chi Minh cities,
that the corporation manages directly. Resellers are not permitted to sell these
items. Honda also saves much money by having complete control over its retail
outlets.
 b. Extensive distribution
For other products, the company has expanded its partnership with sales outlets
throughout the provinces and districts by establishing an extensive distribution
network in 63 cities, with 790 authorized Honda stores (Head) and service and
spare parts outlets (HFS). Head stores will deliver products to dealers and
resellers. Also, Honda requires these merchants to meet their product distribution
requirements to ensure that everything is delivered to consumers at the correct
pricing with Honda standards.

6.4 Promotion
Honda applies the pull marketing strategy with primary promotional tools to enhance its
image.

a. Advertising
Honda utilizes advertising as an effective marketing tool when constantly putting
product images in magazines and newspapers like Thanh Nien and Tuoi Tre.
Moreover, Honda successfully advertises on television and outdoor advertising
methods such as posters, and billboards which create significant impacts on
customers.

b. Sale promotion
- Gifts or delivering free service: T-shirts bearing the company's logo, raincoats,
lubricants, and other accessories.
- Gift vouchers: Selling items or delivering services in exchange for purchase
vouchers or service use coupons so that customers can take advantage of one or
more specific perks.
- Contest ticket: Customers can choose the awardees based on the rules and rewards
announced when purchasing products and services with contest tickets.

c. Public relation
 Honda's mission can be summarized in two words: "Community-oriented."
Hence, the company places a premium on public relations, brand awareness, and
participation in many social activities:
- “Hành Trình 2468 Km”: A motorbike adventure to discover Vietnam of youthful,
vibrant, and demanding Vietnamese people.
- “Be U with Honda”: Honda lets you confidently express yourself and follows the
"Exciting Sea Dance with Honda" event series.
- “Tôi yêu Việt Nam”: to raise Vietnam's road safety awareness.
7. Conclusion
In conclusion, Honda usually leads the motorcycle trend in Vietnam. Honda strives to
bring the best, most affordable, and high-quality products to customers with diverse
marketing strategies and a wide range of product portfolios suitable for a wide range of
customers. Besides, the product is also improving day by day. Although the control of car
prices by retail stores is still tricky, due to the market price stabilization from the
government, this situation has been well overcome and made the price reasonable, more
competitive to consumers and purchasers.
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9. Appendix
A. Visual support

Motorcycle market revenue in Vietnam

Honda’s product line

 Honda distribution.

Honda’s technical problem

MV ‘Mang tiền về cho mẹ’

Honda’s social responsibility

B. Campaigns
1. Refreshing Brand Campaign
“Đi Về Nhà”
Overview
In the context of an innovative and trendy world, consumer demands are gradually
changing. They have higher requirements not only in terms of quality but also pay more
attention to the design and meaning of these products. In order to catch up with this
phenomenon, Honda knows it's time to reposition the brand with a youthful image,
suitable for young people with the campaign "Đi về nhà".

Campaign
Message: “Hành trình hạnh phúc, muôn nẻo yêu thương” or “Ride to Happiness”
Honda, together with rapper Đen Vâu and Justatee, the rising stars at that time, released a
single MV on the Youtube platform named “ Đi về nhà” at the end of 2020.
Honda aims to target young people who belong to the generation that prefers innovation,
breaks, likes to experience, beauty, and especially have an emotional life. Also, this MV
contributes to affirming the transformation image of Honda which is youthful, modern
and unique (Brandsvietnam, 2021).

This campaign has delivered a meaningful message: “The younger generation always
wants to try once to get out of the comfort zone of their parents to explore the vast world
out there. However, after experiencing many ups and downs in life, they keep another
wish in their hearts to return to their parents and family, especially on Tet Holiday.
Particularly, on every journey, Honda always accompanies the young generation”.

Results
This music video has achieved great success, top #1 trending YouTube for many days,
more than 56 million views of the MV after only 1 month of release, and the number has
increased rapidly to nearly 90 million views. Honda Vietnam's “Đi về nhà” also occupies
1st place on the list of Outstanding New Year Campaigns in 2020 as measured by
 Buzzmetrics (Brandsvietnam, 2021). The rate of brand mentions during the 2 weeks
when the MV was released increased by 19%.

Honda succeeded in "refreshing" itself-image; it also affirms the level of an "empire" in

the VietNam motorbike market.

2. Emotional campaign
“Câu chuyện hy sinh thầm lặng của Karik và Thuý Ngân” x “Honda VietNam”

Before officially launching TVC, Honda

used a "trick" to create buzz on Social
media by releasing a set of "fake" wedding
photos of Karik and Thuy Ngan at the right
time when they both shared that they
wanted to get married.
Overview
In the context of the complicated situation of the COVID-19 epidemic, the idea of
gathering at the end of the year does not seem like a good idea. Therefore, Honda has
chosen to exploit the emotional factor in the context of the epidemic to integrate it into
the new TVC, creating empathy with viewers.

Campaign
Message: “Hy sinh thầm lặng”
People generally have a nostalgic mindset towards the end of the year, looking back on
notable accomplishments in the past to look forward to the new year.
Utilizing this mindset, Honda's TVC "looks back" on the journey of staying with the
Vietnamese with the message: At each noteworthy milestone in the voyage, there is
always the shadow of a particular "friend," silently but persistently accompanying us over
the years.
When viewers grasp that the "friend" component is Honda automobiles with enduring
qualities, silently watching many memorable impressions in life, this is a comprehensive
and comprehensible message.
Honda has shown the TV commercial "Sự hy sinh thầm lặng" on Karik and Thuy Ngan's
Facebook and YouTube channels. The video content covers many various emotional
paths throughout time, demonstrating the genuine "quiet sacrifice" of Vietnamese people,
such as a father attempting to buy a new motorbike for his child and caring for his
pregnant daughter. During his wife's pregnancy, the husband worked tirelessly as a
volunteer to fight the disease,...
At the conclusion of 2021, the picture of a Honda automobile that constantly silently
follows the characters generated a wide range of emotions.

Result
On Karik's Fanpage, TVC achieved an "impressive" high achievement with 7.5 million
views and 550,000 reactions. Similarly, when Thuy Ngan posted, TVC also attracted 3.9
million views and nearly 160,000 reactions with many positive comments and shares
after a few days of publication.
At the present, Honda's TVC posted on Karik's Youtube channel has received more than
22 million views and more than 44,000 likes along with thousands of positive comments,
proving the effectiveness of Honda's campaign.

Audience comments for the MV.

 C. SWOT analysis in detail
Strengths
- Powerful brand equity
● Top 2 Japan's Best Global Brands
● Top 25 Best Global Brand (Interbrand,
2021)
● Brand value: $21,315 m
- Strong position in the Vietnam motorcycles
market. By 2020, Honda VN accumulated
almost 80% of the motorcycle industry market
share (Statista, 2021).
- Huge investment in R&D. Honda's
investment in research and development for
2020 was $7.398B, a 1.87% increase from
2019 (Macrotrends, n.d.).
- Diversified product portfolio: Honda
Vietnam mainly concentrates on automobiles
and motorcycles segment (various models:
gear motorcycles, scooters, clutches, and
motorbikes). Honda's manufacturing
subsidiaries operate as an autonomous
company, designing and manufacturing
vehicles based on local conditions and
consumer behavior (Rothfeder, 2014).
● Example: Honda produces Sh modes
for the Vietnamese area.
Weaknesses
- ‘Price disturbances’ of the company’s
product; Poor control of the retail distribution
system.
● Example: The price disparity between
the manufacturer's suggested price and
the market pricing of HEADs for
Honda's expensive models has caused
several controversies, specifically for
the following vehicle models:
○ Honda SH 2022
◼ Price on HondaVN website:
97.990.000 VND (Nguyen, 2022).
◼ Market price: 117 - 123 million VND
(Honda, n.d.).
○ Honda SH Mode 2022
◼ Price on HondaVN website:
60.372.000 VND (Nguyen, 2022).
◼ Market price: 78 - 80 million VND
(Honda, n.d.).
- Technical problems: Honda recalls nearly
30,000 vehicles for fuel pump failure, the
recall program for car lines begins in 2021 to
the middle of 2023 (Kinh te, 2021).
- Concentrating on quality: Implementing the
Global Honda Quality Standard (G-HQS) to
enhance the quality of Honda-brand products
(Honda, 2021).

- Innovative strategy marketing: Corporate

with KOLs to release the MVs "Đi về nhà"
and “Mang tiền về cho mẹ” introducing new
product, Honda Winner X, and reposition the
brand (Pham, 2021).

- Social responsibility: HONDA award,

planting day and donating to families affected
by floods. Implementing “Cùng Honda đẩy
lùi Corona” event chain (Honda, n.d.).

- Stable pricing strategy: The strategy is based

on an ethnocentric alternative which means
the base price of the same Honda product is
roughly the same worldwide (Honda, 2018).

Opportunities Threats

- Consistent demand: Motorbikes are the - Impact of Covid-19: Honda Vietnam

vehicle of choice in Vietnam. According to
previous research, motorbike sales in Vietnam
are the second-highest in ASEAN (Nguyen,
2020).
➡ Maintaining sales in the long term.
announced the 2020 business result, the sales
of both motorcycles and automobiles
decreased by around 20% compared to the
previous year (Honda, 2021).
- Competitors in the same segment: Thaco
group and Toyota overcome Honda becoming
- Future opportunity: Honda collaborates with
other companies to manufacture new products
which fit modern preferences such as electric
or high-tech integrated vehicles.
● Example: Corporation with Sony to
develop Honda's mobility capabilities
(Honda, 2022).
- Cheap labor cost: Labor cost in Vietnam in
2020 is 2.99 USD, while China and Mexico
have higher labor cost, which is 6.5 and 4.82
USD, respectively (Szmigiera, 2021).
➡ This would minimize Honda production
costs and maximize profits for Honda.
- Vietnam's economy is growing, which
means more purchasing power for consumers
and more opportunity for Honda to expand the 2013, the Prime Minister introduced a
market.
● In recent years, Vietnam has seen a
continuous increase in disposable
income, as seen by the quick increase
in total consumer expenditure from
$80 billion to $171 billion between
2010 and 2018. Furthermore,
throughout the first nine months of
2018, the country's spending climbed
by 11.3 percent (Dezan Shira &
Associates, 2019).
pioneers in the automobiles industry (Nguyen,
2022).
- Demand for electric cars has increased in
recent years because of environmental
friendliness (Vinfast).
- Transit and public transport services are
evaluated as increasingly convenient and
developed in Vietnam (HCMC & Hanoi
Metro, VinBus)
➡ The demand for personal vehicles will
decrease.
- Government policy: Announcement of new
regulations banning motorbikes in Hanoi's
inner city from 2025 (Ha, 2021). In March
revision to the road transportation
development plan, with the goal of reducing
the number of motorcycles to around 36
million by 2020. Moreover, Hanoi’s local
government has ordered an increase in the
cost of registration of motorcycles (Indolino,
2016).
- Vietnam fosters international cooperation,
which is also an opportunity for Honda to
catch large investments and profitable
contracts
● Example: Vietnam has been very
active in signing bilateral trade
agreements with nations all over the
world in recent years (ASEAN, WTO,
EVFTA, etc.), which would provide
numerous chances for Vietnamese
firms to attract investment capital and
expand their export markets (Dezan
Shira & Associates, 2021).