It is not difficult to see that VinFast has been very successful when using an integrated marketing strategy, that is, not using a single tool, but using many resonant tools at the same time. VinFast’s promotional activities are always coherent and methodical in all aspects.
”We go to convince them one by one”
During the 2022 Annual General Meeting of Shareholders held on May 11, Vingroup Chairman Pham Nhat Vuong answered a lot of information related to Vinfast before questions from shareholders. Notable among them is the marketing of this electric car brand on the way to America.
“In terms of marketing, we choose direct marketing strategy. Now that we put on movies, advertisements all day long, no one listens, no one believes, we have to actively go to exhibitions, actively let potential consumers experience the car so that they can clearly see the quality, level. We have to prove, convince everyone one by one“- Mr. Vuong said.
In fact, true to a name that “speaks and does”, Vinfast rarely appears in movies or regular media products, but only focuses on promoting products at a series of domestic and foreign exhibitions, the first time. from the Paris Motor Show 2018, Los Angeles Auto Show, to the Mobile World Congress 2022,… That’s how Vinfast increases the product’s recognition when customers can experience the product with their own hands and eyes.
The main purpose of stock listing is to…marketing
For many businesses, listing shares on the stock market is to be able to raise capital quickly and conveniently, but for Mr. Pham Nhat Vuong, that is not the main purpose when Vinfast intends to IPO. .
”Vinfast’s IPO story’s main purpose is not to raise $ 1.2 billion but it is a marketing story, a story that confirms its position in the international market.
If the IPO is not priced well, or the scale is not good, we will not do it, we are ready to step back, when the market is good we will do it.” – Vingroup Chairman emphasized in the recent General Meeting of Shareholders.
According to him, the case that many electric vehicle companies before after IPO failed to keep their commitments, could not export cars, could not sell as planned, created difficulties for other startups like Vinfast. Therefore, Vinfast needs to prove to investors that it keeps its commitments. At that time, no matter how the market changes, Vinfast will be able to list and keep the price growth.
Invite “world-class” Influencers
At the launch ceremony at the Paris Motor Show 2018, VinFast invited former British football player David Beckham, Miss Vietnam 2018 Tran Tieu Vy, Vietnam 2017 runner-up Hoang Thuy and model Tran Quang Dai… to attend.
In particular, the invitation of British star David Beckham to the event is one of the proofs of Vingroup’s willingness to play and pay, helping Vinfast gain a great reputation for its brand. In addition, in Vietnam, Vinfast also owns a strong lineup of KOLs to regularly promote in the mass media.
Awakening “national pride”
Vinfast is very smart when bringing the “national pride” of Vietnamese people to the highest level, hitting the mentality of “Vietnamese people use Vietnamese goods”.
Vinfast aims to create the first national auto brand that no “big man” has dared to step in. At the same time, it opens an opportunity for Vietnamese to own a car at a more reasonable price than it is now when it is manufactured in their home country. Finally, VinFast has created jobs for thousands of Vietnamese people.
In general, VinFast is not too “unstoppable” in launching this car to the market, but already has a large enough customer database in many fields, to be able to sell all products to a number of customers. and is sure to sell well with the most unique and explosive marketing campaigns.
Also at the recent AGM, along with marketing strategies, Mr. Vuong affirmed, VinFast’s car strategy has three things. The first is a good product, good car quality, the second is a reasonable price, and finally, a good after-sales service.
Vinfast’s goal is to sell 750,000 vehicles in the US by 2026, of which 600,000 will be imported from Vietnam.