Vinfast Marketing: Roles, Functions, and Interrelationships Report

This report provides a comprehensive analysis of marketing roles and functions, using Vinfast LLC as a case study. It begins by defining marketing and outlining the marketing process, including understanding customer needs, designing customer-driven strategies, constructing marketing programs, building relationships, and capturing value. The report then details the roles and responsibilities of the marketing function, such as determining and anticipating customer requirements, and satisfying customer needs. It also examines the marketing environment, including internal factors like customers and suppliers, and external factors like economic and social-cultural elements. Furthermore, the report explores the interrelationships between marketing and other functions such as finance, human resources, and production, highlighting how these collaborations contribute to effective marketing strategies and overall business success. The report uses specific examples from Vinfast's operations, like its electric vehicle products, to illustrate the application of marketing concepts.

Part 1
1. The role and function of marketing
1.1. Definition
Marketing is a business process that creates customer relationships and delights CITATION
Ala19 \l 1033 (Alam, 2019). This is the process of optimizing and understanding the desired
requirements of the customer to determine the ability to produce at an appropriate cost
CITATION Col14 \l 1033 (Colbert, 2014).
1.2. The steps of marketing process
a) Understand the marketplace and customer needs and wants
The company should have a thorough understanding of the market and its customers before
launching any marketing campaign or approach. As a result, Vinfast LLC must conduct
market research as well as comprehend and study customer demands and wishes. Market data
analytics and consumer data must both be controlled and used at the same time.
b) Design a customer-diven marketing strategy
Proper segmentation and targeting is necessary because one company cannot serve all
customers in all ways. Vinfast has focused its resources on potential customers so that it can
best serve and bring in the highest profits. Market segmentation and target market selection
help companies determine which customer groups they will need to serve.
c) Construct a marketing progamme that delivers superior value
The purpose of the marketing program is to turn the marketing strategy into real value for the
customer. Therefore, the marketing program should provide superior customer value. The

marketing program, often referred to as the 4Ps, consists of four main elements. The
marketing mix includes product, price, place, and promotion.
To be able to effectively implement the marketing mix strategy, the marketing strategy must
be established to convey customer value. Deliver a value proposition to target customers and
convince them to care about and buy a product.
d) Build profitable relationship and create customer delight
The key to success in this goes beyond satisfying the customer. Instead, the orientation must
create customer satisfaction. That is, the company's offers exceed customers' expectations.
The customer will then repeat the purchase and be loyal and profitable for the company.
e) Capture value from customers in return
Vinfast develops revenues and client equity by capturing value from its customers. This is
based on clients who are happy, interested, and loyal. People who repeat the act of purchasing
and consequently return to purchase on a regular basis. As a result, the company can capture
their long-term value, which is the customer's lifetime value. Through value maximization,
the company can expand market share and win customers if properly planned and performe.
1.3. Marketing management concepts
Marketing concept is the strategy that companies take to satisfy customer needs, increase
sales, maximize profits and beat the competition. There are five marketing concepts that
organizations apply and implement.
a) Production concept
The production concept holds that consumers favor products that are readily available and
low in price.
b) Product concept
The product philosophy holds that consumers prefer good product quality and unique
designs, so marketing management must follow the direction of continuous product
improvement.

c) Sales concept
The sales philosophy holds that customers won not buy a product if the business does not
have a strong promotion and sales effort.
d) Marketing concept
According to Philip Kotler, the marketing concept states that being more effective than
competitors in integrating marketing activities toward identifying and satisfying needs and
wants of the target market, or identifying the target market's needs and wants and delivering
the desired satisfactions more efficiently and effectively than competitors, is the key to
achieving organizational goals.
e) Societal marketing concept
It is essentially a management orientation that states that the main task of the company is to
determine the needs and wants of target markets and to align the organization to effectively
deliver the desired satisfactions and more effectively than competitors in a way that maintains
and enhances the well-being of consumers in particular and society in general. It urges
marketers to balance three considerations in establishing their marketing policies: corporate
profits, consumer desires, and public interest.
2. The roles and responsibilities of the marketing function
The marketing function is concerned with buying and selling goods to satisfy customer needs.
The main roles and functions of marketing include transporting goods to where they are
needed, storing goods, and gathering market information to fulfill customer needs (Lidstone
& MacLennan, 2017). In addition, marketing functions also include identifying customer
requirements, anticipating customer needs, and identifying ways to maximize profits (Ahmed
Zebal & Goodwin, 2012).
2.1. Determine customer requirements
The marketing department is in charge of detecting and responding to changing customer
demands. It primarily focuses on discovering the needs, wants, attitudes, and habits of
customers, as well as thoroughly analyzing the data to establish what the market truly
demands (Balaji, 2014).
2.2. Anticipate customer requirements

The marketing department is also in charge of foreseeing customer needs. Anticipating client
demands and expectations can provide a business a competitive edge by allowing it to be first
to market (Bansal & Taylor, 2015).
2.3. Satisfying customer needs
The marketing function plays a critical role in meeting client needs. Marketing must
identify products that will meet customers' wants while also providing them with good value
for money (Chaffey & Ellis-Chadwick, 2016). Vinfast already has a good understanding of
Vietnamese psychology, and 80 percent of the Vietnamese are looking forward to their entry
in the home market. Fans have been enthralled by Vinfast's participation at one of the world's
greatest motor exhibitions, and the company is poised to make an impression in the
worldwide market.
2.4. Making profit
The marketing department is in charge of coming up with fresh and creative ways to promote
the company's products to customers. This could include providing clients with value-added
packages that not only provide a good value for money, but also boost the company's overall
income and profitability (Chikweche & Fletcher, 2013).
3. The roles and responsibilities of marketing in context of the
marketing environment
Marketing functions assist Vinfast in achieving its aims and developing marketing objectives
for the company and its customers. To translate goals and measure marketing objectives,
corporate objectives are used (Lidstone and MacLennan, 2017). For example, in 2021,
marketing goals will be employed to promote Vinfast's new electric vehicle products in two
segments, Feliz and Theon, with selling prices of VND 24.9 million and VND 63.9 million
dong, respectively. The marketing department at Vinfast is also working hard to increase
overall market share by identifying possible target markets. In addition, Vinfast's marketing
department is responsible for monitoring product demand and supply.
For Vinfast, maintaining coordination with other functions of the organization to come up
with a better marketing strategy is the top focus of the business. This is beneficial for the
organization to achieve the desired business goals for B2B and B2C business activities. The
interrelationship between the different functions of marketing contributes to the development
of an effective marketing strategy that can meet the broader needs of customers.

3.1. The internal factor
a) Customers
It is easy to see that Vingroup has a huge list of potential customers who are using real estate,
tourism, medical examination or have children to go to school at member enterprises.
Vingroup also has too many beautiful locations to open distribution showrooms. Therefore,
VinFast will have a certain advantage. VinFast's external customers are those who have the
need to use electric motorbikes and cars, without income decentralization. They may even be
employees of Vinfast company.
b) Suppliers
Currently, VinFast is cooperating with a series of famous suppliers in the automobile and
motorcycle manufacturing and trading industry such as Bosch, Schuler AG, Eisenmann, Durr
AG or LG Chem. VinFast also bought the intellectual property rights of BMW, a famous
German engine manufacturer, a country famous in the field of mechanics and machinery.
VinFast Manufacturing and Trading Co., Ltd and ProLogium Technology Company (Taiwan)
inked a strategic partnership memorandum on March 3, 2021. As a result, VinFast has the
right to use ProLogium's patents in Vietnam to produce solid-state batteries. This is a
significant step forward in VinFast's autonomy in the field of electric car battery technology,
laying the groundwork for future research and development of smart and advanced electric
vehicles.
c) Substitute products
Products are products or services that are not in the same category as the product or service
under consideration, but can satisfy and meet the needs equivalent to products and services in
the industry. Consider the current traffic situation in Vietnam. Currently, there are not too
many replacement products that are considered a serious threat to VinFast's cars and electric
motorbikes.
d) Competitors
In the future, VinFast will have to compete with many competitors. Comparing VinFast with
longtime competitors, it can be seen that the distribution system of this company is not
inferior. By the end of 2019, the VinFast dealer list has more than 40 1S, 2S and 3S dealer
addresses put into operation. Continuing VinFast is expected to open 76 more VinFast
showrooms by the end of 2020. Thus, after less than 1 year, VinFast's dealer system will
reach 76 VinFast auto dealers. With such a number of dealer addresses, VinFast will have a
wider distribution channel than even Hyundai Thanh Cong or Toyota Motor Vietnam.

3.2.The external environment
a) Economic factor
2020 is expected to be a difficult and challenging year for the global economy, particularly
Vietnam. The world economy is expected to enter its deepest recession in history, with major
economies' growth rates all plummeting as a result of the Covid-19 epidemic's detrimental
impact. However, with an expected GDP growth rate of 2.91%, Vietnam's economy
continues to thrive.
b) Social-culture factor
Buses are the primary mode of public passenger transportation nowadays. When the public
transportation system is underdeveloped and there are little restrictions on registering to own
a personal car, the number of private modes of transportation, particularly motorcycles,
continues to grow rapidly, owing to the high cost of this type of vehicle. In recent years, more
personal vehicles, such as electric bicycles and electric motorcycles, have arrived on the
market, which are utilized by a huge number of students, putting additional strain on our
country's road traffic infrastructure. While waiting for solutions to the above predicament to
be offered and implemented, traffic congestion and traffic accidents in our country have
reached frightening levels. High traffic congestion, a large number of projects under
construction, irrational traffic arrangements, a lack of public awareness about traffic, and
other factors all contribute to the poor state of traffic in cities.
4. The interrelationships between marketing and other functions
4.1. The interrelationship between marketing and finance
Budgets for marketing strategy and related planning are required. This includes weighing the
brand's profit and cost margins, as well as the profit and cost margins of the product line and
product. The finance department at Vinfast provides a budget to the marketing department so
that they can execute their marketing strategy within a budgeted range. The finance
department also informs the marketing department of any charges that may be incurred in the
course of carrying out the marketing activity. Furthermore, Vinfast's marketing department
needs to contact the finance department to know the current financial position of the business
so that appropriate marketing activities can be carried out (De Vries, et al., 2012)
4.2. The interrelationship between marketing and human resource
The primary goal of the human resources department is to work for the benefit of the
employees and to find the best applicant for the job within the budget constraints. The

marketing department at Vinfast works closely with the human resources department to
ensure that vacancies are filled quickly and that the best candidates for the marketing team
are chosen. In order to evaluate performance and determine whether goals have been met,
Vinfast HR gives additional feedback on employee performance to the marketing department.
Furthermore, the marketing department collaborates with the human resources department to
ensure that candidates are given enough training opportunities to help them deal with the
present market's demanding conditions.
4.3. The interrelationship between marketing and production
department and operations
New product development and related activities are the primary focus of the manufacturing
division. To assure the creation of new car models that satisfy customers' taste buds, Vinfast's
marketing department collaborates with the production and operations divisions. The
marketing department collaborates with the operations department to ensure that the
company's operations are in line with its marketing and business objectives. Furthermore,
both departments of Vinfast collaborate to seek high-quality materials from suppliers in order
to provide clients with high-quality products (Kaufman & Horton, 2014).
5. Strengths and weaknesses of the marketing function of Vinfast
5.1.Strengths
The marketing department collaborates closely with the rest of the company's departments. In
Vinfast, some marketing decisions are based on the involvement of other business units in
decision-making cautious and judicious business. Other functions' roles and engagement in
the implementation and creation of marketing models, planning and control, and
implementation of marketing strategies are required for effective and efficient marketing
decision-making. Marketing approach that works.
The relationships between departments and their working coordination contribute to the
effective achievement of the common goals of the organization. The interrelationships with
other functions allow the marketing function to devise strategies to engage all the right
stakeholders to achieve business objectives. From there, it helps Vinfast plan actual processes
at the corporate and individual levels.
5.2.Weaknesses

Given the relevance of marketing efforts to other departments of the company, it must be
acknowledged that not all inter-departmental links are created equal in all scenarios. It is
unavoidably helpful to the company. This is due to the fact that there are times when the
activities and functions of organizations have opposing viewpoints and competing interests.
Instead of operating effectively this might lead to organizational conflict.
Part 2
6. The marketing mix of Vinfast
Marketing mix
(4P)
Vinfast KIA Motors
Product
 Brand
 New product
 Vinfast brand prioritizes product
quality. Vinfast positions its brand as
“The first automobile manufacturer in
Vietnam
 As of 2021, Vinfast has deployed car
lines including VinFast Fadil, VinFast
Lux, VinFast President and VinFast
Premium, Pre A Hatchback, VinFast
Pre B Hatchback, VinFast Pre C Sedan
and CUV, VinFast Pre D Sedan, SUV
family car and MPV
 Kia Motors has built its brand on
quality. Kia Motors is a brand easily
recognized for its distinctive, vibrant
and dependable range of vehicles.
 Changes to the 2021 Kia models
include a new K5 Sedan and Seltos
SUV, and a redesigned Sorento
SUV. The changes announced for
the 2021 Kia lineup include the all-
new K5 midsize sedan, the all-new
Seltos compact crossover and a
redesigned version of the Sorento
SUV.
Price
 Strategy  VinFast has priced products higher
than Korean - Japanese automakers, but
lower than European automakers such
as Mercedes or BMW
 Fadil cars are priced from 414 to 490
million VND, Lux SA 2.0 car is 1.5
billion - 1.8 billion VND.
 VinFast also regularly implements
incentive and sales discount programs
such as: Gift voucher up to 70 million
when buying Fadil car, 150 million gift
voucher when buying LuxA car and
200 million gift voucher when buying
 KIA charges higher prices in other
countries like USA, in different
parts of UK, parts of Africa
 Rio's cheapest car also costs 14000
USD.
 As the company is expanding its
ambitions and upgrading its flagship
cars and other brands, it is trying to
raise the price range.

Lux car SA.
Promotion  Regarding VinFast's mixed marketing
and promotion strategy, VinFast has
implemented extensive promotional
and promotional policies, advertising
and communication campaigns.
 For advertising and communication
campaigns, VinFast has taken
advantage of social networks to
promote and increase brand
recognition.
 Kia Motors has a strong advertising
and marketing policy. Kia has
recently been recognized for its
association with many major
sporting events taking place globally
in its marketing mix promotion
strategy.
 Kia Motors uses TV, print
newspapers, online advertising,
billboards, etc. for marketing.
Place  In addition to the distribution channel
at Vinfast's main agent, Vinfast
currently has more than 200
showrooms across the country to help
bring products to users.
 Vinfast with a showroom in foreign
markets was located in Australia with a
team of experts from Lord and GM.
 Kia Motors has a network of
approximately 4000 dealers
worldwide, serving over 170
countries. There is also a huge
network of 20 regional service
centers and 243 comprehensive
service providers globally, provided
by Kia Motors with a long warranty
period
 KIA mainly produces cars in Korea
itself, and other factories come from
China, Slovakia and the United
States. Kia Motors also has three
R&D centers that aim to reimagine
the driving experience and provide
innovative design for concept cars.
7. Conclusion
Vinfast and KIA Motors, in general, have a presence in the market. KIA, on the other hand, is
marginally better since it invests more effectively than Vinfast. VinFast LLC has consistently
updated and changed its business approach to match consumer tastes in order to build the
finest brand identification. VinFast aspires to be a global smart electric car firm as a
Vietnamese automaker. It can be observed that VinGroup takes great care in every step it
takes in order to take the brand to new heights. The VinFast automotive brand will
undoubtedly expand in the not-too-distant future. VinFast has laid the groundwork for the
production of electric automobiles and motorcycles in Vietnam, while also attempting to
promote the electric vehicle revolution around the world. VinFast is continually developing