lOMoARcPSD|10318923

G5 Vinfast -EIM-T321WSB-1 ER

Enterprise Innovation and markets (Western Sydney University)

Studocu is not sponsored or endorsed by any college or university

Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

SCHOOL OF BUSINESS
ER – TEAM ASSIGNMENT COVER SHEET
STUDENT DETAILS

Student name: Nguyen Bich Kim Khanh Student ID number: 20689285

Student name: Nguyen Le Hoang Kim Student ID number: 20689256

Student name: Nguyen Thanh Tuyet Ngan Student ID number: 20637053

Student name: Ha Bao Ngoc Student ID number: 20688947

Student name: Le Trinh Quynh Nhu Student ID number: 20708030

Student name: Tran Thi Lan Phuong Student ID number: 20743853

Student name: Nguyen Chi Trung Student ID number: 20498030

UNIT AND TUTORIAL DETAILS

Unit name: Enterprise Innovations and Markets Unit number: 200911

Campus & Day: UEH_ISB THURSDAY Tutorial time: 12:00pm

Tutor’s name: DR. HUYNH QUANG MINH

ASSIGNMENT DETAILS

ER Report title: VINFAST _ GROUP 5

Word count: 3630 words Due date: NOV 21st, 2021 Date submitted: NOV 21st,2021
Brand name & Product category: VINFAST - CAR
DECLARATION
We hold a copy of this assignment if the original is lost or damaged.

We hereby certify that no part of this assignment or product has been copied from any other student’s

work or from any other source except where due acknowledgement is made in the assignment.
We hereby certify that no part of this assignment or product has been submitted by us in another
 (previous or current) assessment, except where appropriately referenced, and with prior permission
from the Tutor / Unit Coordinator for this unit.
No part of the assignment/product has been written/produced for us/me by any other person except

where collaboration has been authorised by the Tutor /Unit Coordinator concerned.
We are aware that this work will be reproduced and submitted to plagiarism detection software programs
 for the purpose of detecting possible plagiarism (which may retain a copy on its database for future
plagiarism checking).

Student’s signature: Kim Khanh___________ Student’s signature: Quynh Nhu________

Student’s signature: Hoang Kim___________ Student’s signature: Lan Phuong ______
Student’s signature: Tuyet Ngan__________ Student’s signature: Chi Trung_________
Student’s signature: Bao Ngoc____________

Note: An examiner or lecturer / tutor has the right to not mark this assignment if the above declaration has not
been signed.

0
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

ARO 00398 09/15

WESTERN SYDNEY UNIVERSITY

ASSESSMENT 2

ENTREPRENEUR PROJECT

VINFAST

EIM-T321WSB-1
GROUP 5
PROFESSOR DR.HUYNH QUANG MINH
DUE: November 21st, 2021
1
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

TABLE OF CONTENT

i. Executive Summary 3

1. Evaluation of current innovation 4

2. Current marketing analysis

2.1 Current marketing environment 5
2.2 SWOT analysis of Vinfast and two competitors 5
2.3 Product positioning 6
2.4 Target market 6
2.5 Perceptual positioning 7

3. Current microeconomics analysis

3.1 Market structure 8
3.2 Supply 8
3.3 Demand 8
3.4 Price elasticity of Demand 9

4. Problem identification 10

5. The new innovation & Target market profile 11

6. The new marketing mix (4P’s) strategy

6.1 Product 12
6.2 Price 12
6.3 Promotion 12
6.4 Place 13

ii. References 14-15

iii. Appendix

Appendix 1: Survey results 16- 19

Appendix 2: Perceptual mapping 20 - 21
Appendix 3: Assigning team tasks 22
Appendix 4: Register of Attendance to Meetings 23

2
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

i. Executive summary
Vingroup had been established for 28 years as a multi-sectors organization. Vingroup Joint
Stock Company, or so-called Vingroup, has become one of the most reputable organizations in
Vietnam, as well as the very first Vietnamese manufacturing corporation. Vinfast is a subsidiary
of Vingroup that specializes in the manufacture of electric automobiles and motorcycles. Within
less than a half of decade, Vinfast has been tremendously growing by not only enhancing
Vietnam identity in the global market, but also enriching customer’s preference with numerous
modern and signature good-quality products. The ER project initially focuses on Vinfast's
existing developments, then analyzes the market environment by conducting in-depth
comparisons between Vinfast and its two biggest competitors in the Vietnamese market, Toyota
and Ford. Furthermore, there will be a detailed analysis of the microeconomics and the
challenge that Vinfast is confronting. The aforesaid issue will be addressed by a study of
Vinfast's new revolutionary autos and target client categories, as well as the inclusion of a new
4P marketing strategy.

3
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

1. Evaluation of Current Innovation

Vingroup is a multinational corporation established on August 8, 1993, focusing on residential,

commercial, and office real estate. Vingroup has built a solid reputation among Vietnamese
consumers and local government officials by providing high-quality products and sustainable
development strategies. The corporation has aggressively expanded into other businesses, such
as retail, health care, education, and agriculture, with the vision of establishing an ecosystem to
support its real estate business. By 2017, Vingroup had grown to become Vietnam's largest
private conglomerate, with revenues of 89.35 trillion VND (about $4 billion) and a net profit of
5,655 billion VND (roughly $254 million). Vingroup stated in 2017 that it would enter the
automotive business by establishing Vinfast, a wholly-owned subsidiary, to manufacture cars,
buses, and electric scooters for both local and international markets.

Dimension of Innovation

As of the beginning of 2021, Vinfast has created four vehicle models that were sufficient to
satisfy the demands of various customer groups.

1. Vinfast Lux A 2.0: is a D-class sedan and was first introduced at the 2018 Paris Motor Show
(Dieu, 2021). The car is equipped with smart key, push-button start, 7-inch steering screen,
2-zone automatic climate control, 10.4-inch touch screen, navigation features, smartphone
connectivity, 8-way audio 13 speakers, wireless charging, interior lights.

2. Vinfast Lux SA2.0: belongs to SUV segments which is popular in the Vietnamese market due
to its exquisite design, powerful performance, and complete interior with modern technology.
Since it was released at the same time, this one is also equipped with the same features as the
Lux A2.0 model.

3. Vinfast Fadil: is a small urban car model launched in Vietnam in November 2018. Although
highly regarded in terms of appearance and modern equipment, the car's space is regarded as
insufficient for long-distance travel.

4. Vinfast President: is an SUV, however, it is more advanced than Lux SA2.0. The overall car
exudes a sense of power and luxury for elite customers. Besides other functions as the previous
lines, the President's interior is superior with high-quality leather seats, Italian wood, massage
and heating mode.

Aspect of innovation

The slogan "Strong Vietnamese spirit," full of national strength, and the drive to rise as is the
meaning of the name VinFast. VinFast aspires to be a regional leader in the manufacturing of
autos and motorbikes in Southeast Asia. To achieve that ultimate goal, Vinfast has always
cultivated and innovated to bring high quality products to Vietnamese customers, while
contributing to the development and improvement of the country's economy.
4
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

2. Marketing Analysis

2. 1 Current marketing environment:

Unfortunately, due to the impact of the coronavirus pandemic, worldwide commercial vehicle
production is expected to decline 22% to 2.6 million units in 2020 compared to 2019 (IHS Markit,
2020). According to the Vietnam Automobile Manufacturers Association (VAMA), the industry as
a whole registered just 11,761 units in April 2020, including 7,796 passenger cars, 3,652
commercial vehicles, and 313 special purpose vehicles. According to Thoi Nguyen (2020), in the
first four months of 2020, the global automobile market shrank by 36%. Vietnamese vehicle
dealers are subjected to hefty taxes and levies, resulting in a loss of income for the government
and complaints about urban congestion. Currently, Vietnam's auto sector has relied mostly on
imported spare parts, and FDI businesses own the majority of the value of car parts and
components in Vietnam. The absence of technical innovation is the industry's challenge.

2. 2 SWOT analysis

SWOT analysis of Toyota (Sudhakaran, 2021)

Strengths Weaknesses
● Continuous improvement and human ● Strikes: Workers at a Toyota
respect that stimulate productivity and manufacturing factory in India recently
creativity. went on strike over labor issues that harm
● Strong household zero-emission car (over the company's capacity
5,680 worldwide patents relating to ● Tight hierarchy which stifles innovation and
hydrogen fuel cells) adaptability.
● Toyota's hybrids: appealing alternatives for ● Technology Gap: Toyota is 6 years lagging
ecologically concerned purchasers behind Tesla.
● Strong Stock Performance

Opportunities Threats
● Smart Cars: self-driving technologies ● Main competitor is Tesla whose market
(Guardian and Chauffeur) for capitalization is 175% larger than Toyota's
inexperienced older- age drivers. ● COVID-19 Restrictions: Economic crisis
● Nano-materials: are used to make safer, and unemployment that resulted from
lighter, stronger, and more durable quarantine has affected the import of
automobiles. Toyota to Japan, the US and Europe.

SWOT analysis of Ford (Parker, 2021)

Strengths Weaknesses
● Well-known in the international car ● A total of 830,000 Ford and Lincoln cars
market with successful marketing have been recalled to fix problematic side
strategies door locks in May 2016, heavily affected the
● Wide range of models appeals to a wide brand image
range of demographic groups. ● Bad image when comparing to European
and Japanese competitors.

5
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

● The focus on light weight, interior

technology, and powertrain to improve
the products’ quality.

Opportunities Threats
● Eco-Friendly Vehicles: the 2018 C-Max ● Raw materials prices- Increasing In steel
and Fusion Hybrid car model is one of and steel coil raw material prices may
the leaders in this segment. directly impact on the company's cost and
● Digital Marketing: can be used to profit margin.
increase consumer and supplier ● Market turbulence — in the first quarter of
involvement. 2020, global market turbulence slammed
● $1 billion investment in Argo AI, an Ford hard, resulting in a drop in sales.
artificial intelligence firm, in 2017 to ● Strike threatened–Ford was compelled to
develop self-driving technology. invest $1.4 billion in its Oakville and Windsor
● Extending activities into software, factories in Canada for long-term job security
electric car charging, and other relevant to settle with the labour union.
technological industries.

Swot analysis of Vinfast

Strengths
● Consistent human resources
● Substantial financial resources.
● A favorable brand image
● Compliance to a high level - quality
management
Weaknesses
● Not as popular as Ford or Toyota in the
global market
● Customer dissatisfaction with the cost
and warranty service.

Opportunities Threats
● Utilizing technology from partners to ● Brand hindrance
produce goods that suits a wider customer ● Vietnam's automobile auxiliary industry is
range still small.
● Rising domestic consumption and great ● Expanding pressure
supports from Vietnamese customers ● Foreign rivals
● Lots of potential when the infrastructure is
upgraded

2.3 Product position:

Currently, VinFast focuses on positioning its brand as "The first automobile manufacturer in
Vietnam'' by cooperating with well-known automotive engineering and manufacturing companies
such as Magna Steyr and Bosch to strengthen the quality and image of Vietnamese cars. Toyota
is one of the world's most well-known vehicle manufacturers, offering a comprehensive product
range that includes e-Toyota, biotechnology, marine, road assistance, and automobile service to
improve client connections and loyalty. Compared to the other two competitors, Ford has a
varied and locally manufactured product range that operates according to geographical
preferences. They continually ensure that the products are sensible, affordable, and
cutting-edge, like the Fiesta for small-car enthusiasts.

2.4 Target market:

6
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

VinFast intends to target many Vietnamese consumers since they are built to match their typical
driving behaviors and handle Vietnam's famously packed streets. Meanwhile, Toyota is one of
the major brands from Japan that continuously produces many cars with attractive and
personality models for many customers, especially "men". In general, their main customers are
businessmen, middle-aged and successful. Lastly, the target audience of the Ford line of cars
seems to be trying to target young, successful people, knowledgeable about information
technology and participating in social networks, so marketing will also be effective.

2.5 Perceptual positions:

We conduct a Google form survey asking respondents about their feelings regarding brand
automobile quality, promotion, service, and pricing to determine the brands' perceptual
placements on the perceptual map. The results show that Ford is the most expensive brand,
then Toyota and Vinfast. For quality, the respondents have quite high ratings for the Ford brand,
followed by Vinfast and Toyota ranked last. In terms of the brand image, Ford and Toyota
received more positive reviews than Vinfast. However, Vinfast has impressed by leading the
response to high praise in terms of innovative technology.

7
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

3. Current Microeconomics Analysis

3.1 Market structure

In recent years, Vietnam's vehicle sector has risen tremendously and received considerable
attention and support from the Vietnamese government. Between 2015 and 2018, the average
annual growth rate of locally assembled vehicles was around 10%. Vinfast is an oligopoly
because the industry is only competing with a few other dominant automotive industries such as
Toyota, Suzuki, Mazda, and Ford. With a special concentration on EVs, this Vingroup subsidiary
wants to win a significant position in the extremely protectionist and oligopolistic automotive
industry (Pastoor, 2019b). The Industrial Policy and Strategy Institute in Vietnam projects that by
2025, vehicles would be sold yearly from 750,000 to 800,000 (Ha Do, 2020). Many big
automobile assembly and manufacturing projects are now developing in Vietnam, with the goal
of meeting domestic demand as well as tapping into the regional market. In general, Vietnam's
car sector has tremendous human resource strength and great consumption market potential
along with the government's determination in reducing taxes and issuing policies to support
production.

3.2 Supply

According to Vietnam Briefly, on June 14, 2019, local firm Vingroup officially opened its Vinfast
facility, making it Vietnam's first indigenous vehicle factory as well as the first Vietnamese car
brand to produce electric vehicles such as cars and scooters. According to Dan Tri news (2018),
VinFast will directly manufacture the most important components of a car product, the bodywork,
chassis and engine. A number of well-known vendors, including ZF (Germany), Lear (USA), and
APPICO (Thailand) have agreed to supply components and replacement parts for Vinfast.
Vinfast has also collected a team of seasoned executives from the world's most prominent
vehicle manufacturers, including BMW, Siemens, and ItalDesign, to produce high-quality
automobiles that meet international standards. VinFast has teamed with Chinese firm Gotion
High-Tech to research and manufacture electric car batteries. Gotion is a global producer with
eight R&D centers and 10 production sites in China. LFP batteries are less costly than
nickel-based chemistries while being less energy-dense.

3.3 Demand

According to Ringierevents (2020), the domestic car manufacturing industry was expected to
increase at a rate of over 18 percent yearly from 2019 to 2025 and reach about 14 percent in the
following decade. It means that automobile output is anticipated to reach over 500 thousand
units by 2025 and over 1700 thousand units by 2035. Furthermore, over a half decade, car sales
are expected to increase by over 20 percent annually, along with the expansion of the middle
class. A total of 460 thousand vehicles are produced each year, with about 200 thousand cars.
Since Vinfast was the very first Vietnamese vehicle manufacturer, this was regarded as a
national achievement and a source of pride for the Vietnamese people. As a result, the brand

8
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

gained a significant competitive advantage over its competitors in the Vietnamese market. With
a good marketing plan, numerous customers had placed a large number of orders. By that, the
demand curve of Vinfast seemed to shift to the right with a significantly increased output order.

3.4 Price elasticity

Price Elasticity of Demand is the most fundamental economic aspect used to measure a
commodity or service. Regarding Vinfast's price elasticity of demand, a change in the price of a
car can cause a change in the quantity demanded. A representative of Vinfast said that it had
suffered a loss of several tens to hundreds of millions of dong on sold car models in the past.
Therefore, Vinfast decided to increase product prices. For car pricing, Vinfast said it is persisting
with the "3 No" policy, including no depreciation, no interest, and no financial costs. The selling
price of the product is only equal to the product cost plus selling expenses that can be
considered a strategy to encourage consumers to buy products while still being subsidized by
the company, creating a scarcity mentality. Moreover, with the investment of Vingroup, when an
assembly plant is built, and the design quality is from an Italian designer, Vinfast's 6th BMW
version is priced at a completely reasonable price for the segment mid-range customers in
Vietnam are an advantage to help Vinfast develop more with domestic and foreign markets.

9
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

4. Problem Identification

According to Ouang, overall market sales in 2019 were 322,322 autos, 11.6 percent over the
previous year (2020). This figure reflects a constant growth in the number of Vietnamese
customers wanting to purchase automobiles and adaptation to the Southeast Asian client car
purchasing trend. Nonetheless, as a pioneer in automobile manufacture in Vietnam, it is
reasonable to see why Vinfast is experiencing sales difficulties compared to other firms in the
same sector. Even though these Vinfast's automobiles are made and controlled by a Vietnamese
firm, the gasoline engine car was created inappropriately for Vietnam's terrain (low ground
clearance). There have also been some critical remarks about the unsophisticated design and
the low value of these lux series about the actual price that the buyer paid. As a result, "higher
class" customers are hesitant to buy Vinfast's current product lines and choose overseas brands
with the same price and appropriate function instead.

Despite a promising start with over 17,000 requests for all variables, which resulted in the
manufacturing of over 15,000 automobiles (Vinfast 2020), car consumption in Vietnam remains
slow and small in comparison to the demands of individuals who plan to purchase a private
vehicle. However, as mentioned by Ha, the Vietnamese per capita income in 2019 is roughly 242
USD, which is around 5.716 VND million (2019). Vietnamese employees would need to "give up"
a few years of salary to acquire or own an automobile that meets their needs. This is a
significant challenge for VinFast, which has only issued four-vehicle lines: Fadil, Lux A2.0, Lux
SA 2.0, President, and is unable to meet the needs of Vietnamese buyers. As a result, to
increase sales, Vinfast will need to launch a new campaign aimed not only at gaining a
competitive edge but also at enhancing a Vietnamese identity to make vehicles capable of
competing in the global market.

10
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

5. The new innovation & Target market profile

Vinfast's objective is to assist the global transition to a greener, more ecological electric
automobiles. However, their existing product line does not adapt to their purpose, powered by
gasoline and adds to air pollution. This problem will be solved by the first electric car line of
Vinfast, including three SUVs named the VF e34, VF e35, and VF36. The lineup is set to be on
sale in Vietnam, Europe, and the United States markets at the end of 2021.

The VF e34 is designed specifically for Vietnamese clients, with special pricing of 690 million
VND. Customers can experience European quality and lots of cost benefits. Since driving an
electric car is a novel experience for Vietnamese customers, battery costs are unavoidable.
Vinfast ensures that monthly battery charging, and subscription costs are equivalent to the cost
of gasoline. Specifically, users rent batteries from the company with a monthly cost of 1.45
million VND for a maximum distance of 1,400km. Going beyond the above number, users will
pay an additional 998 VND/km. If the electric charge cost is equivalent to about 484 VND/km,
the total cost of rental battery and electric charger will be 1,482 VND/km. Besides, more than
40,000 charging terminals for electric cars and e-scooters will be available in 63 provinces and
cities and 100% highways.

Vinfast's success in marketing research is demonstrated through the two seven-seat versions,
VF e35 and e36. Because of their versatility and comfort, seven-seater automobiles have grown
in popularity among Vietnamese customers in recent years. However, the previous seven-seat
model, Lux SA 2.0, which cost around 1 billion VND, could not meet the demands of the middle
class, particularly during the Covid time. Since the "middle class" is a large segment of Vietnam
and the global population, including the age range of 18-60, who love going on family trips on
important occasions and live an active lifestyle. Therefore, Vinfast's VF e34 35 36 models with
extremely reasonable prices are considered a sound business approach for reaching out to the
middle class.

All three SUVs will include smart infotainment, artificial intelligence, and automated capabilities
like face and voice recognition technology to change the inside temperature. In terms of safety,
all three models meet the world's top safety requirements, including 5-star NHTSA, 5-star Euro
NCAP, and a system that automatically detects, warns, and notifies medical institutions in the
event of an accident. These advances stem from VinFast's strategic investments, pioneering
research and development, and global collaboration with automotive industry leaders and
innovative start-ups associated with VinFast and Vingroup.

11
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

6. The new marketing mix (4P strategy)

1/ Product
Design: VinFast VF electric line is designed with a sporty and dynamic look. The automobile line
emanates vitality in the body owing to the five-spoke dual-spoke alloy wheels, which are covered
with black plastic to create a true SUV look. There is a blind-spot warning system and a
360-degree camera incorporated into the automobile mirror. The rear of the VF series stands out
with a compact LED tail light cluster that produces a signature "V" shape, symbolizing Victory
and Vinfast. The EVs will be available in various stylish external and interior colors, allowing
users to select according to their preferences and spirituality freely.

Target customers: All the three electric SUVs are designed with spacious space and suitability
for a wide range of geographical conditions. They are the optimal choice for both Vietnamese
and global families. Customers who live and work in large apartments and administrative centers
of big cities will have an advantage when choosing VinFast electric cars because there are
charging stations built by VinFast. Moreover, for families with young children and the elderly, the
fine dust filter air conditioning system is a notable plus. Air quality is a concern of many
Vietnamese families, the space inside the car is as tight as at home, so integrating the fine dust
filter feature is essential.

Quality: Although it has only been launched for a few days, the Vinfast VF e34 2021 smart
electric vehicle is highly appreciated for its ability to reduce environmental pollution because of
its reduced CO2 emissions into the environment, as well as low maintenance costs only
equivalent to 25%-30% compared to other competitors. Furthermore, this model has a super-fast
charging capability that allows it to drive up to 180km after only 15 minutes of charge, allowing
consumers to roam around without worrying about running out of power.

2/ Price:
As mentioned before, the VF e34 will be delivered by the end of 2021 for 690 million VND
(without batteries). With additional incentives, the car's price is expected to be a little over 500
million VND. Similar electric vehicles from Peugeot, Hyundai, and KIA would cost roughly 1.5
billion VND, including the battery if imported to Vietnam. Therefore, the pricing is fairly
reasonable for an electric utility vehicle. The estimated pricing for the current VF e35 and VF e36
has not been announced, but according to the design director of Vinfast, it will be cheaper than
the price of European automobiles. This price distinction will satisfy buyers looking for the most
contemporary vehicle models at the most competitive prices.

3/ Promotion

a/ Marketing campaigns
12
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

The electric SUV duo VF e35 and VF e36 made their public premiere at the Los Angeles Car
Exhibition2021, the world's oldest and most famous auto show, at 6:30 a.m. on November 18,
2021 (Vietnam). This event was broadcast on Times Square (New York, USA), the most prime
and "coveted" location globally. Simultaneously, it was live-streamed internationally on the
company's Fanpage to reach mass-global customers (Duy, 2021).

b/ Public relations
Domestically, although not advertised as strongly as the two models VF e35 and e36 in the US,
VF e34 still receives great attention from Vietnamese customers. The superiority of Vingroup's

halo effect and the enthusiastic support of Vietnamese customers, which stems from national
pride and a readiness to embrace the world's leading trends, is shown in the figures below.

c/ Sales promotion

To create opportunities for Vietnamese to obtain the VF e34, all customers who deposit 50
million VND before September 15, 2021, will receive very advantageous incentives totaling more
than 200 million VND. The entire incentive comprises a 70 million VND discount on registration
costs, a 100 million VND discount immediately taken from the car's selling price, and one year of
free battery rental subscription worth 17.4 million VND. Furthermore, there are more appealing
benefits for customers when using the technology, including free parking every 6 hours at
Vincom and Vinhomes systems nationwide, 10-year insurance, and free rescue 24/7 throughout
the warranty term. When the battery capacity is less than 70%, the firm can replace the new
battery at no cost to the consumer, as reported by Ho (2021).

4/ Place

VinFast's distribution system marketing approach is based on wholesale distribution via

single-level distribution channels, which are operated in the straight-line directions: Vinfast ->
Distributor -> Customer.
Inviting other vehicle companies, including Kia, Toyota, Mazda, Honda, and others, to join the
distribution system is another essential strategy for expanding the brand's distribution network
throughout the country. VinFast has opted to collaborate with GM (General Motors) to push and
13
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

improve the Vietnamese distribution system for both VinFast and Chevrolet automobiles. VinFast
presently has a rather broad network of distribution channels due to this collaboration, which
would require more time and money if constructed alone and from scratch.
VinFast's corporate growth strategy begins with France, Germany, and the Netherlands as three
main markets in Europe before spreading to other countries. VinFast develops business
strategies that consider the unique features of each market, such as client demand and the
natural operating conditions in each place. VinFast believes that its battery leasing approach and
adaptable car types will differentiate it from local manufacturers such as Tesla and GM,
establishing an important position in the US and European markets.

ii. References

1. Briefing, V. (2019, May 9). Overview of the Automobile Industry in Vietnam. Vietnam
Briefing News.
https://www.vietnam-briefing.com/news/overview-automobile-industry-vietnam.html/

2. Chotot. (2021, April 2). Đánh giá ưu nhược điểm xe Vinfast Lux A2.0 cao cấp. Chợ tốt.
https://xe.chotot.com/kinh-nghiem/vinfast-lux-a2-0-cao-cap.html

3. Có nên mua ô tô điện rẻ nhất của VinFast - VF e34?. (2021). Retrieved from
https://thanhnien.vn/co-nen-mua-o-to-dien-re-nhat-cua-vinfast-vf-e34-post1273405.html

4. Dan Tri. (2018, November 28). VinFast sản xuất hay lắp ráp ô tô?. Retrieved November
1, 2021, from
https://dantri.com.vn/o-to-xe-may/vinfast-san-xuat-hay-lap-rap-o-to-20181129103438556.
htm

5. Dieu, A. (2021, November 8). [VINFAST 2021] Tổng hợp các mẫu xe ô tô VINFAST.
anycar.vn. Retrieved November 18, 2021, from
https://anycar.vn/xe-o-to-vinfast-t238282.html

6. Do, T.H. (2020, May 21). Vietnam’s Automobile Industry and Opportunities for EU
Investors. Vietnam Briefing. Retrieved from
https://www.vietnam-briefing.com/news/vietnams-automobile-industry-opportunities-eu-inv
estors.html/

7. Duy A. (2021, November 18). Xe điện VinFast sẽ lên sóng trực tiếp tại Quảng trường
Th&. . . danviet.vn. Retrieved November 18, 2021, from
https://danviet.vn/xe-dien-vinfast-se-len-song-truc-tiep-tai-quang-truong-thoi-dai-new-york
-my-502021181163258161.htm

8. Giám đốc thiết kế của VinFast úp mở giá xe ô tô điện VinFast VF e35 và VF e36, rẻ hơn
Tesla nhiều. (2021). Retrieved from
https://danviet.vn/giam-doc-thiet-ke-cua-vinfast-up-mo-gia-vinfast-vf-e35-va-vf-e36-re-hon
-nhieu-tesla-20211118083137723.htm

9. Ha, N. (2019, December). Thu nhập của lao động Việt Nam bằng một phần bảy khu vực.
VNEXPRESS. Retrieved October 18 from
https://vnexpress.net/thu-nhap-cua-lao-dong-viet-bang-mot-phan-bay-khu-vuc-4030172.html

10. Ho, T. (2021, June 27). VinFast launches a new offer for VF e34 electric car: up to 180
million VND compared to the listed price. ITZone. Retrieved November 2, 2021, from
14
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

https://itzone.com.vn/en/article/vinfast-launches-a-new-offer-for-vf-e34-electric-car-up-to-1
80-million-vnd-compared-to-the-listed-price/

11. Những yếu tố nào sẽ ảnh hưởng đến giá xe VinFast? (2018, November 6). oto.com.vn.
Retrieved October 11, 2021, from
https://oto.com.vn/thi-truong-o-to/nhung-yeu-nao-se-anh-huong-den-gia-xe-vinfast-articlei
d-xbwodhh

12. Ngoc, A. (2021, April 14). Giải mã thành công của chiến dịch ra mắt VinFast VF e34 - Ô
tô điện thông minh đầu tiên tại Việt Nam | Ngọc Anh. Advertising Vietnam. Retrieved
November 16, 2021, from
https://advertisingvietnam.com/giai-ma-thanh-cong-cua-chien-dich-ra-mat-vinfast-vf-e34-o
-to-dien-thong-minh-dau-tien-tai-viet-nam-l16452

13. Nguyen, D. (2021, August 23). VinFast partners with a Chinese company for making
electric car batteries - vnexpress international. VnExpress International – Latest news,
business, travel and analysis from Vietnam. Retrieved November 19, 2021, from
https://e.vnexpress.net/news/business/companies/vinfast-partners-chinese-company-for-
making-electric-car-batteries-4344912.html.

14. Nguyen, T. (2020, May 23). The Vietnam Automobile Industry at a Crossroads. The
Diplomat.
https://thediplomat.com/2020/05/the-vietnam-automobile-industry-at-a-crossroads/

15. OSAM. (n.d). VinFast's: Journey to cloud with OSAM. OSEAM.

https://www.osam.io/vinfast

16. Parker, B. (2021, November 15). Ford SWOT Analysis 2021 | SWOT Analysis of Ford.
Business Strategy Hub.
https://bstrategyhub.com/swot-analysis-of-ford-2019-ford-swot-analysis/

17. Pastoor, D. (2019, January). Vinfast and the Electric Vehicle Market in Vietnam.
Netherlands Worldwide.

18. Peter, V.D (2021, Nov 18). Japan and South Korea cracked the American car market.
Now a company from Vietnam wants to try. CNN Business.
https://edition.cnn.com/2021/11/17/business/vinfast-electric-suvs-america/index.html

19. Phân tích chiến lược Marketing của VinFast chi tiết nhất. (2021, November 1). MISA
AMIS. Retrieved November 10, 2021, from
https://amis.misa.vn/28597/chien-luoc-marketing-cua-vinfast/

20. Quang, M. (2020, January). Thị trường Viet Nam trong năm 2019 biến động thế nào?.
VietNam Finance. Retrieved from:
https://vietnamfinance.vn/thi-truonq-o-to-viet-nam-trong-nam-2019-bien-donq-
the-nao-20180504224233481.htm

21. Ringierevents (August 2020), ASEAN Automotive & Motorcycle Parts Manufacturing
Summit 2020. Retrieved from
https://ringierevents.glueup.com/resources/protected/organization/912/event/18957/6d4a
8b1d-730d-4a3b-8f61-5b84d19a7686.pdf

22. Solieukinhte. (2021). GDP bình quân đầu người của Việt Nam. Số liệu Kinh Tế.
https://solieukinhte.com/gdp-binh-quan-dau-nguoi-cua-viet-nam/

23. Sudhakaran, A. (2021, September 11). Toyota SWOT Analysis 2021: Quick Reference
Guide. PESTLE Analysis. https://pestleanalysis.com/toyota-swot-analysis/

15
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

24. Vietnamnews (2018, August 26). VinFast partners with Global Auto Part Suppliers.
vietnamnews.vn. Retrieved November 19, 2021, from
https://vietnamnews.vn/economy/450625/vinfast-partners-with-global-auto-part-suppliers.
html.

25. VinFast. (2020, January). Vinfast đã bán được 67,000 ô tô - xe máy điện. Retrieved
from: https://vinfastauto.com/vn_vi/vinfast-da-ban-duoc-67000-o-xe-may-dien

26. VinFast chính thức hoạt động ở Mỹ, châu Âu. (2021). Retrieved from
https://tuoitre.vn/vinfast-chinh-thuc-hoat-dong-o-my-chau-au-20210711231607066.htm

27. Vinfast VF e34 2021 (Xe điện): thông số, giá bán, khuyến mãi (11/2021). (2021).
Retrieved from https://muaxegiatot.vn/xe-vinfast-vf-e34.html

28. Vinh Phuc Online. (2017, May 25). Toyota Vietnam continues to lead the car market in
Vietnam. Bao Vinh Phuc.
http://baovinhphuc.com.vn/en/business/39736/toyota-vietnam-continues-to-lead-the-car-
market-in-vietnam.html

iii. Appendix

Appendix 1: Survey results

16
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

17
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

18
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

19
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

Appendix 2: Perceptual Map

Appendix 2.1 Price and Quality

Appendix 2.2 Quality and Design

20
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

Appendix 2.3 Price and Brand Image

21
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

Appendix 2.4 Marketing and Brand image

Appendix 3: Assigned team task

What needs doing? As List the various jobs required to be List the names of team
per the “Marking criteria completed within the task & How members who collaborated
& standards”. long will it take to complete? in completing the various
jobs within the task.

Task 1 - Evaluation of - Briefly introduce about Vingroup and Tuyet Ngan

current innovation. critically evaluate current innovations Hoang Kim
- Refers to chapter 1

Task 2 - Current marketing - Analyze the present marketing Lan Phuong

analysis. operations of Vingroup's product Chi Trung
category as well as its two main Phuong Nhu
competitors in the Vietnamese Kim Khanh
marketplace.
- Refers to chapters 3- 5

Task 3 - Current economic - Analyze the current microeconomics Bao Ngoc

analysis. conditions of Vingroup's product Hoang Kim
category as well as its two main
competitors in the Vietnamese
marketplace.
- Refers to chapters 6- 8

22
Downloaded by Linh ?inh (chilinh2403@gmail.com)
 lOMoARcPSD|10318923

Task 4 - Problem - Base on research analysis and Chi Trung

identification. expalain the problems facing in Lan Phuong
Vingroup’s products category.

Task 5 - The new - Apply creativity to transform the Bao Ngoc

innovation & Target market problem Kim Khanh
profile. - An innovation for a new products of
Vingroup

Task 6 - The new marketing - Create a marketing mix plan for Tuyet Ngan
mix strategy. introducing new products to the Phuong Nhu
Vietnamese market. Kim Khanh
- Refers to chapters 4-5

Task 7 - APA Referencing - Reference as we go Hoang Kim

style. Kim Khanh
Bao Ngoc
Phuong Nhu
Tuyet Ngan
Lan Phuong
Chi Trung

Appendix 4:

23
Downloaded by Linh ?inh (chilinh2403@gmail.com)