Role of marketing in motivation customer brand preference for vietnamese products. What are the most factors in marketing? Why?

MINISTRY OF EDUCATION AND TRAINING

……… UNIVERSITY
SCHOOL OF SOCIAL SCIENCES AND
FOREIGN LANGUAGES


ESSAY
ROLE OF MARKETING IN MOTIVATION CUSTOMER
BRAND PREFERENCE FOR VIETNAMESE PRODUCTS.
WHAT ARE THE MOST FACTORS IN MARKETING?
WHY?

Instructor:
Student:
Student code:
Class:
Subject: ENGLISH MARKETING
School year: HK 2 (2022-2023)

Ho Chi Minh City, May 25th, 2022


……. UNIVERSITY
SCHOOL OF SOCIAL SCIENCES and FOREIGN LANGUAGES

Academic Year: 2022- 2023

FINAL TEST
Student’s name:
Student’s code:

Class:
SCORE IN
FIGURES

SCORE IN WORDS

EXAMINER 1

EXAMINER 2


TABLE OF CONTENTS
INTRODUCTION ................................................................................................ 1
CONTENT ............................................................................................................ 1
I.

SUMMARY OF MARKETING: .............................................................. 1
1.1.

The birth of marketing: ...................................................................... 1

1.2.

Marketing concept: ............................................................................. 2

1.3.

The concept of "marketing mix"? ..................................................... 3

1.4.

The role of marketing for consumers: ............................................... 4

II.
ROLE OF MARKETING IN MOTIVATION COSTUMER
BRAND PREFERENCE FOR VIETNAMESE PRODUCTS: .................... 4
2.1.

Introduction to company Vinfast: ..................................................... 4

2.2.

VF 8 electric cars - D-class SUVs of VinFast company - Vietnam: 5

2.3.

The success of the VinFast VF 8 electric car (Class D SUV) brings:
9

2.4.

VinFast's marketing – mix 4P strategy: .......................................... 11

2.5. Role of marketing in motivation costumer brand preference for
Vietnamese products: .................................................................................. 15
III.

MARKETING FACTORS: ................................................................. 16

3.1.

Factors in marketing: ....................................................................... 16

3.2.

The most important factor in marketing? ...................................... 19

CONCLUSION ................................................................................................... 22
REFERENCES ................................................................................................... 23


INTRODUCTION

The economy has gone through several stages of development along with
the history of human society. On the other hand, the progress of science
and technology has created the conditions for industrial production
industries to develop significantly. More and more goods are produced.
Besides, people's lives are getting higher and higher, and the need to enjoy
human life is also getting bigger. As a result, the market for consumer
goods products has formed and grown in both scale and quality.
Therefore, marketing has been an indispensable important field in the
context of an open economy, increasing competition. The role of marketing
is not only important in the operation of businesses but, at the same time,
greatly affects consumers and also motivates customer brand preference for
Vietnamese products. Through the introduction to the essay, I see that this
is also the reason that I chose the topic "Role of marketing in motivation
customer brand preference for Vietnamese products. What are the most
factors in marketing? Why?" as the essay topic for my final exam.

CONTENT

I.

SUMMARY OF MARKETING:

1.1.

The birth of marketing:

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Marketing was born associated with the appearance of goods. When at least
one of the two factors is that the seller and the buyer must strive to find
ways to sell and buy the things, marketing appears. Thus, marketing
appears when exchanging goods is competitive, or in other words, the root
cause of marketing appearance is competition.
Marketing theory first appeared in the United States in the early years of
the twentieth century. The first lectures on marketing were taught at the
University of Michigan, California, then spread to other universities in the
U.S. and all countries with market economies. Marketing theory does not
end with consuming; it also includes market research, customer, design,
and product manufacture in accordance with customer needs, valuation,
and consumption organization.
Marketing is first applied to companies producing and trading consumer
goods, packaging, companies producing durable consumer goods, and
companies producing industrial goods, followed by the fields of material
products such as steel, chemicals, paper... Over the past decades, marketing
has been highly regarded in the fields of service business, aviation, and
banking. Freelance jobs such as lawyers, doctors, and auditors come to

marketing at the latest. Today, marketing is applied in all areas of
commercial and non-commercial business.

1.2.

Marketing concept:

Marketing may be explained in a variety of ways. However, in a simple and
understandable way, marketing is a bridge that helps to connect the

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provider of goods and services with those who are in need of such goods
and services.

Marketing includes all activities that help consumers know as well as make
choices about products, services, or brands. Furthermore, marketing aids in
maintaining consumers' interest in goods and services that are marketed.

Figure 1. Maketing
(source: />
1.3.

The concept of "marketing mix"?

The concept of "Marketing Mix" was
first mentioned in a speech by Neil
Borden, president of the American
Marketing Association, in 1953. A

marketing mix is a collection of tactics
and tools that a business uses to
advertise and sell its products in the
Figure 2. Marketing Mix
(Source: />
3


market. These tactics range from product development, packaging, price
decisions, brands, and where to sell products, to deciding on
communication and promotion strategies.

1.4.

The role of marketing for consumers:

Marketing activities not only benefit businesses but also bring a lot of
convenience to consumers. A business only survives and grows as long as
it provides economic benefits to its customers. The economic benefit for
customers is that they get a value higher than the cost they spend to buy
those goods. A product that satisfies the buyer is the one that offers more
usefulness than the competitor's product. In addition, changing the way
customers view Vietnamese brands is equal to foreign brands and makes
customers brand preference for Vietnamese products.

II.

ROLE OF MARKETING IN MOTIVATION COSTUMER
BRAND PREFERENCE FOR VIETNAMESE PRODUCTS:
2.1.

Introduction to company Vinfast:

VinFast is a Vietnamese manufacturer of automobiles and electric
motorcycles established in 2017. This company is a member of Vingroup,
founded by Mr. Pham Nhat Vuong. The word VinFast stands for "Vietnam
- Style - Safety - Creation - Pioneer". These words express the aspirations
that the company wants to achieve: the desire to build a Vietnamese brand
reaching the world, helping Vietnam have the opportunity to develop heavy
industries, manufacturing industries, and auxiliary industries,...

4


Figure 3.1. Logo Vinfast
(Source: />clientprofile/vinfast)

Figure 3.2. Logo Vingroup
(Source: />
VinFast's main products are electric-powered smart vehicles, including
electric buses, electric cars, electric motorcycles, and so on. VinFast is
constantly evolving, researching, and developing to bring the best services
and products to customers, contributing to promoting the transformation of
the use of gasoline-powered vehicles through electric vehicles in order to
protect the environment and human health from toxic waste.

2.2.

VF 8 electric cars - D-class SUVs of VinFast company Vietnam:

VinFast announced a major pivot: it will stop building vehicles with
combustion engines by the end of the year and make only electric vehicles.
It is an expensive move early in the automaker's life. Vinfast has launched
a few types of electric cars, but the VF-8 is the most successful D-class
SUV in the country and abroad. And it was welcomed by U.S. President
Joe Biden, who wanted VinFast to build a battery and electric car factory in
the U.S. state of North Carolina.
5


The VinFast VF 8 (VF e35) is expected to bring a new wind to the D-class
SUV category after making an outstanding debut at the Los Angeles Auto
Show in 2021, owing to its remarkable design, powertrain, and
usefulness. After that, it received a lot of attention not only from
international users but also from customers in Vietnam. The model has two
versions: Eco and Plus, similar in size, safety technology, and differences
in battery capacity, engine, and some amenities on the car.

Figure 4. VF 8 electric cars - D class SUVs

(Source: /> In terms of specifications, both the VF 8 Eco and Plus models are of
comparable size.
 The VF 8's design is built on the "Dynamic Balance" structure, which
focuses on the harmony between the exterior space and interior,
providing a weight balance for four wheels, allowing this midsize
SUV to handle traction effectively and function stably, whether

6

cornering or driving at high speed. The VF 8's design has crisp,
flowing curves while being strong and dynamic.
 In terms of power systems, the VinFast VF 8 has two battery options
with ranges of up to 460km or 510km. It is expected that the battery
will give a full charge distance that ensures the European WLTP
standard with a normal charging time of about 8 hours and a super-fast
charging time of about 24 minutes.
 In terms of powertrain, the VF 8 has two electric motors distributed
equally by two axes, with operating performance in both versions as
follows:
- Maximum power:
 Eco Version: 260kW.
 Plus Version: 300kW.

- Maximum torque:
 Eco version: 500Nm.
 Plus Version: 640Nm.

- Top speed maintained 1 minute: 200Km/h (both versions)
- Acceleration from 0 to 100Km/h:
 Eco version: 5.9 seconds.
 Plus version: about 5.5 seconds.

7


 In terms of interior design, the VF 8 not only has a luxurious and
sophisticated appearance, but it also incorporates various smart
technologies to provide unique driving experiences, such as:

Figure 5. Inside the car VF 8
(Source: />
 Update apps remotely through free FOTA software or collect
SOTA fees.
 Virtual assistant.
 Control the functionality on the car via the voice or VinFast app.
 Online shopping services are fast and convenient.
 Various entertainment video games.
 Personalize promotional information, offers, and events.
 Office utilities: receive and send messages via voice.
 Home utilities: synchronize infotainment.

8


 Assists in monitoring vehicle conditions, diagnosing errors, and
calling emergency services in case of problems.
 Battery management and charging.
 Furthermore, the VF 8 electric vehicles are outfitted with advanced
driver assistance systems (ADAS) features such as:
 Supports movement in congested conditions.
 Driving assistance on the highway.
 Automatically switch lanes safely.
 Full parking assistance (when there is a driver in the car).
 Self-parking (when there is a driver supervising outside the car).
 Summon a smart car.
 Recognize signals and letters in traffic.
 Warning system: Lane departure warning and lane-keeping
assistance; forward and rear collisions; blind-spot warning;
Traffic flow warning until the door is opened.

 Automatic emergency braking.
 Rear camera system and monitoring around 360 degrees.
 Driver monitoring.

2.3.

The success of the VinFast VF 8 electric car (Class D SUV)
brings:

VinFast has pioneered the universalization of electric vehicles in Vietnam
and achieved proud achievements on the journey to welcome the "future of
mobility" both domestically and internationally. With the strategy of

9


transitioning to electric vehicles, VinFast has focused on researching and
developing battery technology in order to meet European standards. In
addition to water resistance, explosion resistance, and ensuring the ability
to move safely, electric car batteries also help the car protect the
environment effectively. Accordingly, VinFast VF 8 (formerly known as
VF e35) is a pure electric mid-size SUV, converging the breakthrough
elements of the electric car model from the future: a powerful engine,
environmentally friendly, and superior ADAS driving assistance feature,
which promises to bring domestic and international customers new and
exciting experiences.

Not only domestic success, VinFast first launched the VF8 electric car at
the exhibition in Los Angeles in November 2021 and then in Las Vegas in
January 2022. VinFast aims to start

selling electric cars in the U.S. and
Europe this year, competing with
Tesla and other electric car makers.
Following then, it received a lot of
attention not only from international
users but also from customers in
Vietnam.

Following the debut of the VF8
automobiles, Pham Nhat Vuong's
car company and the North Carolina
state government announced the
signing

of

a

memorandum of

Figure 6. President Biden's Twitter account shares information that VinFast
is building a battery and electric car factory in North Carolina.
(Source: />
10


understanding on the construction of VinFast's first manufacturing plant in
the North American market. And was welcomed by U.S. President Joe
Biden in a statement posted on the White House website.

Figure 7. The signing ceremony between VinFast and the
government of North Carolina
(Source: />
2.4.

VinFast's marketing – mix 4P strategy:

VinFast's marketing-mix strategy is a huge mark. This model has helped
the company to exploit the market demand from the present to the future.
Instead of current models, VinFast's marketing strategy - mix retains a
relatively traditional 4P marketing model: Product, Price, Place, and
Promotion.

a. Product:

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As of 2022, Vinfast has launched a few electric cars. Furthermore, in order
to build the brand and offer excellent goods, Vinfast also cooperates with
many well-known companies in global automotive manufacturing
techniques, such as Magna Steyr and Bosch, AVL, ZF, GROB,... This
contributes to the product being of the same quality as that of the world's
automakers. At the same time, Vinfast has hired two famous Italian
designers, ItalDesign and Pininfarina (ItalDesign is a famous designer
associated with the names of Ferrari and Lamborghini). This cooperation
not only helps Vinfast to have the same quality as automakers around the
world but also strengthens the image of high-class Vietnamese cars in the
hearts of domestic and international users.

b. Price:

Vinfast's pricing strategy gives its products a competitive advantage in the
market and gives them defense against potential competitors. In addition,
the construction of the price segment also helps Vinfast adjust the price to
suit the needs of users. Therefore, VinFast's price strategy has been
evaluated at the mid-range, i.e. higher than the Korean and Japanese
automakers but lower than European automakers when distributed in the
Vietnamese market. This unit does not use a low valuation or high price
strategy to penetrate the market at all. Instead, they will regularly organize
discounts and promotions to attract customers.

12


Table 1. Vehicle pricing (Prices excluding business tax and VAT, battery,
battery lease, ADAS and Smart Service packages)

Market
Model

Vietnam

US

Europe

(million VND) (USD)

VF 8 Eco

961

41,000

VF 8 Plus

1,125

48,000

(EUR)
From 36,133
(varies for each country)
42,669

Table 2. ADAS và Smart Service packages: (excluding business tax and VAT)

Market

One-time Payment Monthly Subscription

Vietnam (million VND)

120

2.5

Europe (EUR)

5,990

125

US (USD)

6,500

135

Table 3. VinFirst – Pioneer’s Gratitude to Pioneers

Market

Vietnam

US

Europe

(million VND)

(USD)

(EUR)

Reservation
Model

fee

VF8
Eco/Plus

10

Voucher

150

Reservation
Reservation
Voucher
Voucher
fee
fee
200

3,000

150

2,500

(Source: />
c. Place:

13

Vinfast's distribution strategy includes:
 Acquisition of other distribution channels: Distribution
strategies on many sales channels are based on Vinfast's process
of selecting the target market in a methodical way before that
will help the company enter the market quickly and save time
and cost in building a sales system.
 Implementing wider distribution: Vinfast distributes through
a variety of sales channels and showrooms around the country
in order to reach a large number of customers. Vinfast also
plans to enter the international market. On June 11, 2020,
Vinfast's first showroom in overseas markets was located in
Australia with a team of professionals from Lord, GM,...
d. Promotion:

VinFast has focused on very strong development campaigns. The first is to
promote social media, to increase your recognition and "coverage".
Implementing attractive promotions and incentives to attract the attention
of the market. Invest in quality advertising TVC is typically broadcast right
on the CNN channel and by AKQA, which is also the leading media
company in the world. In particular, in the mixed promotion strategy,
VinFast's 3-no strategy also creates a unique: No investment depreciation
costs - No financial costs - No profit. Furthermore, during the first stage of
market penetration, Vinfast created a media boom by using KOL "David
Beckham" at the Paris Motor Show to increase customer trust.

14


Figure 8. David Beckham poses for a picture during VinFast launch at the
Paris Motor Show

(Source: />
2.5.

Role of marketing in motivation costumer brand preference
for Vietnamese products:

In order for consumers to prefer Vietnamese goods, businesses must first
know how to create brands. Through the above evidence, Vinfast is a
manufacturer of automobiles and electric motorcycles in Vietnam, this
company is a member of the largest Vingroup group in Vietnam. But only
the brand can not motivate consumers to love Vietnamese products, which
must be accompanied by unique marketing strategies. Through Vinfast's
marketing strategy, we show that it not only benefits businesses but also

15


brings a lot of convenience to consumers, especially in terms of price,
promotions, and product designs.

Vinfast's marketing - mix strategy helps customers feel economic value and
feel more value than they spend when buying VF 8 electric cars - D-class
SUVs. Marketing also helps to create a variety of electric cars that satisfy
the needs and desires of each domestic and international customer. In
addition, it will change the way consumers view Vietnamese brands.

III.

MARKETING FACTORS:

3.1.

Factors in marketing:

The four P’s of marketing are the key elements that come into play when
goods or services are marketed to the public:

Figure 9. The Marketing Mix
(Source: />
16


 Product:
The product was created with the primary purpose of meeting the needs of
a specific set of customers. Products can appear as tangible goods such as
materials, engines, and household items... or invisible, such as banking
services, health care...

Figure 10. TH True Yogurt
(Source: />
Figure 11. Savings deposit service at the bank
(Source: />
 Price:

17


T

he price is the number of money

customers need to pay to own the
product or use the service of the

business. Price is an important issue in the
marketing mix, which is also the determinant
of a product's survival. Price adjustments will
have a profound impact on the marketing
plan and will affect the supply and

Figure 12. Price

demand for products in the market as (Source:
well as sales for the company. So, let's

/strategy/importance-price-0843771)

study accurately the factors of market
price, selling price of competitors, price points, list prices, discounts,... To
make a decision on the price of your product is appropriate.

 Place:
The place is where you will sell the product and how you will distribute it.
Whether you're just starting out in business, considering new distribution
methods, or trying to sell your products abroad can be helpful to you.

Figure 13. Place – Marketing Mix
(Source: />18


 Promotion:

In marketing, promotion is the method through which businesses choose to
promote their products to a large number of users.

Figure 14. Promotion Mix
(Source: />
3.2.

The most important factor in marketing?

In my opinion, Product and Promotion are the most important factors in
marketing. Because,
 Product is the core of the marketing process and without them, we
have nothing to continue with Price, Place, and Promotion. Therefore,
while choosing your product, it is necessary to thoroughly research
some necessary aspects such as: whether the product is in demand in
the market; what the quality is; what the design is; what are the
highlights;...

For example: Vinamilk has 5 main product categories, including milk
(fresh milk, sugary condensed milk, powdered milk,...), dairy products
19


(cream, cheese, yogurt,...), tea, coffee, and fruit juice. Vinamilk is
dedicated to providing consumers with the best products possible. The
company has innovated technology to produce healthy products, the
quality is increasingly improved to ensure it meets the needs of users.

Figure 15. Vinamilk's new dairy products
(Source: />

By producing a variety of product lines, including low-sugar Vinamilk
and Vinamilk skipped skim milk for dieters, adding fragrance, and
creating Vinamilk 100% Organic for high-end customers, Vinamilk
has maintained its position as the leading brand in the diversified fresh
milk market (Vinamilk 2020).

20


 Promotion is as important as a product because promotion serves two
goals: to inform potential customers about your product and about the
product that you aim for. The promotion also persuades people to
purchase your product. This is the factor that can determine the
revenue of a business, helping the business promote brand positioning
and sales activities.

For example: Gucci succeeds in its strategy of conquering Gen Z
because they are unpredictable, exciting, and viral. Designer
Alessandro Michele is inspired by everywhere: wildlife, the alien
world, memes,... All of that bold and controversial content has
completely knocked out the younger generation of users who have
always had a strong desire to be different.

Figure 16. Gucci's Spring 2022 Collection
(Source: />
21


Furthermore, Gucci's social media advertising approach is also a
factor worth learning about. Using hashtags for each campaign is a

wise move, it is both easy to spread the message and become a
prominent trend for young people, while also being able to measure
the level of success. Gucci's social media success might result in
extensive publicity and potentially skyrocketing sales.

CONCLUSION
Through the above essay, we see that marketing is very important for both
businesses and consumers. Marketing is the universal key to helping
businesses achieve all the goals set out. No matter how many changes the
market makes, as long as there is marketing, everything is easily solved.

Every successful business relies on it. Furthermore, marketing enables
businesses to retain long-term and everlasting ties with their customers.
Marketing not only meets the needs of customers but also expands the
reach, helping more people know about the products of the business.
Thereby contributing to increasing the opportunity to bring products to
more consumers. Here's how to motivate customers' brand preference for
Vietnamese products.

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