MKT201
HONDA VISION
REPORT
Group 1:
MKT1726 Nguyen Sinh Thanh
LECTURER Do Minh Dang
TRINH TRONG HUNG Quan Linh Chi
Nong Ngoc Tu
Dang Mai Truc Dan
Group members
ĐỖ MINH ĐĂNG NGUYỄN SINH THÀNH
HS173171 HS173208
NÔNG NGỌC TÚ QUẢN LINH CHI
HS170912 HS171957
ĐẶNG MAI TRÚC ĐAN
HS173161
01
table of content
I. Introduction
1.1. Short profile of that product
1.2. Target customer and target market
1.3. Aims: do research and analyze the current marketing
strategy and some suggestions
II. Analysis of the consumer behavior
2.1. Psychological characteristics of consumers
2.2. Social and external factors influencing consumer
behavior
2.3. Consumer decision-making process
2.4. Trend
III. Suggestions and conclusions
02
I. Introduction
1.1. Short profile of the product
Honda was present in the Vietnam market 26 years ago.
As a long-standing company that has gone deep into the
Vietnamese people's subconscious and diversified into
products such as cars, motorbikes, electric vehicles,...
Today, Honda is the number one company in Vietnam's
motorcycle industry and has a scientific business
strategy.
Honda VISION was first introduced to the world in
2011 and soon appeared in Vietnam in 2012. Belonging
to the segment of low-priced scooters, for the past 8
years, the Honda VISION has always been the best-
selling scooter in our country.
The new generation of intelligent motors has a compact
design, great power, an energy-saving cooling system,
and the most advanced sound system. The unit is
designed to strike the perfect balance between
performance and maximum fuel economy.
The design of the motorcycle at the front has sharp
three-dimensional block lines, combined with a cluster of
headlights and turn signals with transparent lenses for
strong illumination, giving a rather youthful and
energetic appearance. The footrest is wide and flat. The
front storage compartment and the trunk are spacious.
There is a SmartKey system that makes remote vehicle
identification more advanced.
1.2. Target
a. Target customer
Vision is one of Honda's best-selling motorcycle products; it
is suitable for many different age groups, but only a few
products are purchased by the younger age groups. Vision is
loved and used by young people because of its youthful,
dynamic design, good quality (strong engine, fuel efficiency,
etc.), and moderate price that is suitable for many people's
ears.
Vision has a lot of different models; instead of different
models with different prices, the price ranges from 31-40
million VND. The price is a reasonable price to buy a
quality Honda motorcycle, so it is suitable for consumers
with moderate economic status.
b. Target market
Honda Vision is aimed at female customers aged 18-35 years
old who love compact and elegant motorcycles. Men choose
to buy this car at a very low cost, but only a small
percentage of them will choose to buy the Air Blade.
In addition, the colors are diverse and suitable for students,
young, and dynamic women, such as white, red, and neutral
colors such as blue, brown, and black, which are suitable for
the tastes of middle-aged women. And with quite cheap
prices, customers in the age group 18-35 years old with low
or middle income will be the customer group that Vision
targets.
1.3. Aims
Aims: do research and analyze the current marketing strategy
With the goal of completing customer satisfaction, and serving people all over the world,
Honda has been putting joy in work, aiming at people who love work, with effort and values.
they bring, bring joy that expands their life potential. Those things will help the company
produce high-quality products, good value, and bring satisfaction to the customer
II. Analysis of the consumer behavior
2.1. Psychological characteristics of consumers
Motivation:
Since Honda Vision is a product that requires people to have stable financial conditions, it
can be placed in the Safety category of Maslow’s hierarchy of needs. Safety needs are
considered health, employment, property, family, and social ability; people want to
experience order, predictability, and control in their lives. If consumers are married,
personal transportation is one of the products they must have in order to move between
places, especially in Vietnam.
More than half of Vision’s consumers are working with average incomes between 5 million
VND and exceeding 10 million VND. Most Millennials are employed. people, their safety
needs could be fulfilled by financial security, and property, so having a motorbike is
essential for them.
Additionally, Gen Y until the present is action-oriented and tends to focus its energies on
self-sufficiency. They will often be found working on their cars, or motorcycles, canning their
own vegetables, or building their own houses. To such a degree, Makers from the VALS
framework could demonstrate them. Moreover, they are in this period of seeking self-worth
and desire to be accepted and valued by others. Thus, Esteem needs also be applied in the
process of buying Vision. Due to their financial stability, afford motorbikes and then show
everyone the independence they own. These requirements motivate people to take action to
find fulfillment.
When the question of the color and scooter’s shape influences the price, 86.2% of
people will change their mind about the purchase decision. This could be drawn
from the sensory threshold, specifically the differential threshold. That is,
consumers will see the difference with their own eyes from product to product.
In this example, consumers are being affected by changes in price, differences in
spear shape and model.
Vietnam’s traffic is considered sophisticated since transportation density is
almost exclusively motorbike, even in these few years. In 2022, there will be more
than 3 million motorbikes being purchased in Vietnam, and most of them will be
Honda, with the popular scooter Vision. (tuoitre, 2023)
The process of consumer perception when they consider purchasing Vision is most
stimulated by sights—consumers observe the motorcycle’s shape. The sound’s sensory
stimuli could be demonstrated by the system sound of the Vision. Or the texture
stimuli of Vision, consumers have to reflect on the color of each Vision’s scooter.
Consumers rely on which style of product is suitable for them, then give attention to
that product, which means when they take the time to think about and evaluate a
product or brand, they are giving it their mental focus and attention. This leads to
whether they purchase the product or not; they then consider the cost of this product.
This Honda’s product line generally suits people of all ages, yet it is most suitable for
Millenial and Gen Z tastes because of the young, trendy shape, which is suitable for
both men and women at a reasonable price.
Compared with other scooters in the line including SH, Lead, AirBlade and Honda
VARIO, the price of Vision could be considered a low-priced product segment.
Honda Vision has its 4 versions whose price range from 32 million VND to more than
37 million VND. Scooters are a high-involvement product for consumers since
consumers must do research on reference groups to ensure Vision’s quality. This price
range could be considered as the most effective valuation in 2023 for consumers in the
middle-class in Vietnam.
According to the theory of consumer confidence, when prices go up, the demand for the
product or service goes down. In the first 6 months of 2022, the price increased sharply with
the versions: the standard version costs 47 million, the high-end version costs 49 million, the
special version costs 50 million VND. The reason why retailers push the price higher comes
from the fact that the number of Vision motorcycles at dealers is not much and buyers have
to wait a long time to receive the product. Consumer’s reactions were negative to this
increased price because they thought that goods still have the same quality. They might even
switch to another in the same segment with a lower price at that time.
Multiattribute attitude models
Multiattribute attitude models assume that a consumer’s attitude toward an attitude object
depends on the beliefs she has about several of its attributes (Pearson, 2013). In this model,
importance weights reflect the relative priority of an attribute to the consumer, some
attributes are likely to be more important than others (Pearson, 2013). With this high-
involvement product - Vision, consumers tend to assign greater weight to the scooter’s price.
Price is priority to Vision’s consumers when they have the means to buy a motorbike,
whether it is in accordance with their pocket or not.
The Fishbien model
This model is the most influential multiattribute model. The second priority is the quality of
the motorbike, they would care about how this scooter runs, would it save fuel, etc. This is
the object-attribute linkages, or the probability that a particular object has an important
attribute (Pearson, 2013). After that, they could be in their mindset of this color, scooter's
shape, which would match with them or not. This is when consumer combine all their
attitude toward a scooter: evaluation of each of the important attributes.
Perception, Attitudes and Beliefs:
Consumers' opinions and attitudes towards a particular product and its associated
brand affect their purchasing decisions. People's perceptions and opinions of products
affect their purchasing decisions. Marketers try to comprehend how people think and
feel about brands and use promotional strategies to alter these attitudes and beliefs to
shape the brand's image. thus influencing consumer buying behavior. In the situation of
Honda Vision, if the color and motorcycle shape influence the price, consumers tend to
change their mind about whether they purchase or not.
Although Honda is a senior brand, it is well-known for its ultra-durable motorcycle
lines. Honda’s brand image has been changing and providing more youthful colors.
Especially in the age of digital technology, the brand uses surrogate consumers to
advertise their product. Noo Phuoc Thinh and Bich Phuong are the two celebrities who
starred in the “Yeu la Vision” Campaign’s TVC established in 2020. The joyful color in
this campaign did reach the consumer's attention because it grabbed the youth's energy
and also promoted Vision's ability to save fuel during its long trip. Fuel savings are one
of the attractive points that Vision provides for its consumers. It hits the consumer
utilitarian theory when Vietnamese consumers are often interested in the benefits of
buying something, especially when it comes to saving costs for items that use accessories
and fuel.
Also, Vietnam is considered a country with
a hedonic culture (emotional value that the
individual expects), in which consumer
interest in brands makes shoppers more
interested in the social benefits of products,
their usefulness, or how they fit into
society. Therefore, in Vietnam, many
businesses and brands are promoting their
products in a sustainable way, bringing
social benefits such as environmental
support, educational support, and
community support. Honda Vietnam
organizes "Tree Planting Day 2023:
Together with Honda keep Vietnam green
forever", Honda Award for students of The brand influences their purchase
universities in Vietnam who have won decisions in terms of price and promotion
scholarships and other awards, donated while consumers go through their individual
motorcycles to the traffic police force, or selections, organize, and interpret the
supported policy families in difficult information to draw a meaningful
circumstances, and especially charity conclusion. Therefore, they have in mind
activities such as supporting flood victims. what this product can bring to them in
These activities, applying Hofstede's theory, terms of hedonic and utilitarian value.
specifically belong to the part of Long-term Honda Vision can be perceived as a middle-
orientation. Honda has built a long-term class income brand, and consumers are
brand image in consumer psychology, motivated to buy it to get associated with
which is reflected in its market share and people in the same social stratification.
has helped Honda promote its product
widely and build an admirable brand image Conscious consumerism can also play a role
in the eyes of the public. Furthermore, in a consumer's decision to buy a Honda
Honda, which is well-known for its safe- Vision. It is shopping in ways consumers
driving activation, the 'I love Vietnam' believe have a positive social,
program, shows the general public that the environmental, or economic impact. As
brand's goal is for everyone to be safe while Honda provides programs in order to
driving. support a green environment, greater
Moreover, Honda Vision also organizes community, consumers could prioritize
sales promotion and advertising through these values - sustainable impact.
multiple media channels such as TV,
newspapers, social media platforms, etc. in
an effort to stand out in the eyes of
consumers, especially the younger
generation currently.
According to our research, consumers became aware of Honda Vision mostly through
recommendations from friends and acquaintances. This is the power of word-of-mouth
marketing since scooters play a pretty important role in the Vietnamese community. Word-
of-mouth marketing has the potential to influence consumer behavior in a positive way.
Consumers are more likely to trust the opinions of their friends and family compared to
advertising messages. This can lead to increased brand loyalty and brand recognition, as
well as higher sales and market share for the company. Honda Vision turned out to be one
of the most well-known in the Vietnamese transportation market.
2.2. Social and external factors influencing
consumer behavior
There are three main influencing factors: culture, social factors, and personal factors.
Culture factors group
Culture is the fundamental factor that dictates how humans, including consumers, behave.
That is consumer culture. Dressing, personality, and consumption, ... are strongly
influenced by culture. People of different cultures have different consumption behaviors.
A typical example is the consumption of motorbikes in different regions of Vietnam. The
style of Northerners is usually elegant and sophisticated, so they tend to use scooters more
than digital motorcycles, and Vision motorcycles are a typical example of scooters. Or,
according to many Southerners with a preference for a dynamic, convenient, and quick
style, the Vision is more popular than other scooters.
Subculture: Each culture contains small subcultures that give rise to distinctive traits
and contribute to the social status of their participants. Each subculture has its own
unique market segmentation, and marketers frequently create items that cater to their
wants. Each person's subculture will have an impact on their own shopping habits.
Depending on each person, cultural attributes will be different and will be influenced by the
lifestyle, customs, and consumption habits of that branch of culture. Young women who
are just starting out with an active style will often choose cars with a compact, dynamic
design that still retains a feminine look.
Social class: groups that are relatively stable within a social framework, arranged in a
caste hierarchy, and characterized by similar values, interests, and behaviors in different
regions. member. Social class is determined by many different factors, such as education
level, occupation, income, power, etc.
For example, it is very difficult for people with an income of about 2-3 million VND per
month to own a Vision motorcycle for 30-40 million VND. Another example of education
level, is highly educated people often research the motorcycle they intend to buy very
carefully through many different channels, while low-educated people often buy according
to preferences or are easily influenced by the opinions of people around them.
Social factors group
Group influence:
A reference group or reference individual is a group of people or an individual whose
attitudes and behaviors are considered by others as a standard for their attitudes and
behaviors. This greatly influences the person's purchasing decision
Affected groups include:
Familiar groups: groups in which the individual belongs and interacts with each other:
friends, colleagues, unions, …
Admirer group: group to which the individual is influenced but is not a member and
wishes to be present
Disgruntled group: group whose behavior is not acceptable to the individual
The degree to which the attitudes of the people around him weaken or encourage the first
option of the intended buyer depends on two factors:
The intensity of the surrounding people's disapproval or preference for the consumer's
preferred alternative.
Consumer's motives for following the wishes of others
→ The stronger the opposing or encouraging attitude of others and the closer the person is
to the consumer, the more likely the buyer will adjust his purchase intention.
For example, when colleagues and friends recommend using a Yamaha Janus motorcycle
instead of a Honda Vision, the probability of buying a Vision motorcycle will be slightly
reduced, while the probability of buying a Janus motorcycle will increase.
Family:
Family members can strongly influence buyer behavior. These effects are profound and
long-lasting, even when these relationships are no longer regular and firm, especially in
countries where family relationships are seen as fundamental, such as in other countries
East Asia.
Current family influences:
Family influence in the decision-making process to buy a product or service
The influence of changes in the current family structure has given rise to attitudes
toward shopping
In each stage of the family cycle, the role of members affects consumer demand and
product choice.
Specifically for buying motorbikes,
more specifically Honda Vision, in
traditional families, the husband often
makes decisions about product
attributes such as which brand to buy,
how much it costs, etc., while the wife
usually makes the decision about the
make and color of the motorcycle.
However, in modern families, when it comes to buying a motorcycle, the roles of wife and
husband are equally important, and it also depends on who the motorcycle is bought to
serve mainly.
In our country, most children without their own families live with their parents, so they will
be greatly affected by family factors. Close relatives are the greatest source of influence and
support in a person's life. To make a decision about such a valuable product when the child
is not financially independent, the decision-making role often belongs to the parents
Personal factors group
Age:
Each age group has its own preferences and requirements when it comes to the products
and services they use. Age and stages of family life are milestones that shape consumer
needs, tastes, and purchasing power.
Honda Vision is one of Honda's market leader motorcycle products, suitable for many
different ages, but most of the products are bought by young people. Vision is preferred and
used by young people because of its youthful, dynamic design, good quality (strong engine,
fuel-saving, ...) and especially its moderate price that is suitable for business finance
economy of the majority of young people.
Economic status
An individual's economic status as
measured by his or her income and
expenditure. This has a huge impact on how
that individual chooses products and
services
Vision has many different models, which
change from year to year with a variety of
different prices, ranging from 31 to 41
million VND. This is a moderate price to
pay to buy a quality Honda motorcycle, so
most are suitable for consumers with a
fairly average economic income.
Personality
Personality is the set of distinct characteristics that lead to stable behaviors and ways of
responding to individual environmental stimuli. Each person has a different personality, it
speaks to each person's personality, reflecting the differences of each individual. Personality
has very specific and clear effects on individuals' consumption behavior
Because Honda's design is very diverse, there are many confident, dynamic, elegant designs
suitable for many different personality types, and up until now, Vision has been known as
the preferred motorcycle line for women with its compact design and light weight.
Especially in 2021, Honda has launched a personality version of Vision with a stronger and
stronger design as well as durability for the motorcycle to please customers with strong
personalities.
2.3 Consumer decision-making process
Identify needs
Today, motorbikes are not only a means of transportation but also a means of earning a
living for some people. In addition, it is also an item that shows the user's personality and
level.
Huge demand is estimated at 3 million units per year.
It is the most popular means of communication among young people today.
Customers often pay attention to reputable and famous brands.
Willing to pay a higher price for a better quality product.
Recognizing those needs, Honda has launched the Vision scooter line with outstanding
quality quickly become the best-selling scooter in Vietnam.
Information search
Source of personal information
Sources of mass media
Source of commercial information
Experience
Recognizing this very important need, Honda has designed transmission strategies effective
communication to satisfy customer needs for Vision vehicle products.
Evaluate alternatives
On the market today, there are many products that compete with Honda Vision in terms of
motorcycle models Affordable prices, typically Yamaha, but Honda Vision is still expensive
to attract customers thanks to the attributes outstanding
Fashion style
Powerful engine
Fuel economy
Brand trust
Decision to buy
From intention to purchase decision, consumers are influenced by many factors such as:
Distribution: Honda has a wide distribution area throughout the country, creating
favorable conditions for purchase, warranty, repair, and other services.
Price: The price is lower than other scooters, but the quality is better.
Promotion program, motorcycle purchase installment...
Review after purchase
Customers can evaluate products through online platforms, gmail...With the motto "A
satisfied customer is the best advertiser", Honda always values feedback and provides the
best services to maximize customer satisfaction
2.4 Trend
Starting with the goal of "Bringing a compact fashion scooter model with high applicability,
making users feel proud to own it,", Honda has officially launched the VISION model for
the first time. in 2011. In nearly a decade of being introduced in Vietnam, VISION has met
the expectations of Vietnamese customers for a compact scooter model at a reasonable
price, excellently fulfilling its mission. when becoming the best-selling car model in Vietnam
for consecutive years from 2017 to 2023.
VISION is a clear demonstration of the transformation in the tastes of young Vietnamese
customers and at the same time demonstrates Honda's timely grasp of customer needs at
each time with a series of innovative versions.
In 2023, Honda officially launched a completely new version of the VISION model with a
revolutionary design and a series of changes to meet the trends of the time.
The design is a combination of three elements emphasizing elegance while still being sporty
and dynamic.
The main idea in the design of the all-new VISION is a combination of three elements:
attractive style, powerful power while still maintaining outstanding fuel economy, and high
practicality to better meet the needs of customers. Honda focuses on exploiting "dynamism"
and "quality" by refining the appearance, focusing on depicting each line sharply but still
showing elegance, compactness, and fullness. healthy.
The current scooter models are sophisticated in design and generously equipped with the
most modern advanced technologies, making it convenient for people to use the car such as:
Idling Stop (off function). temporary machine), Smartkey (smart key), ABS brake (helps
not to lock the wheel when braking sharply), electronic fuel injection
In the future, Honda should catch up with the trend of using electricity for motorbikes.
Create a hybrid gasoline motobike, but gasoline fuel is not used directly to operate the
vehicle like conventional hybrids, but only used to recharge the UPS and supply electricity
to the motor. electricity to run the motobike.
Capturing the motorcycle market trend helps Honda to have a business strategy for itself in
the last months of the year to make the most profit for its store.
III. Suggestions and conclusion
Suggestion
As you all know, Vision is considered the "number one selling scooter" by Honda. Here are
some recommendations for marketers
Organize large media events to introduce products, or combine organizing music shows
to attract and introduce products to many customers.
Motorcycle is a product that needs practical experience, so businesses can promote the
experience with hands-on experience sessions for guests
Organize rallies at schools with the theme of "traffic safety", and give helmets to
students, combined with traffic safety training for parents and students, to enhance the
brand image.
Run ads on multi-user social networking platforms such as Facebook, TikTok, and
YouTube in the form of short viral video clips. Create trends for users to join.
Using some famous actors and singers as brand ambassadors
Price and quality are decisive issues in the business process if any can solve these
problems, providing better quality products at competitive prices
As businesses become more competitive, they create advantages for themselves in the
business process.
Create more promotions and incentives to create excitement that is interesting and
attractive to customers.
Conclusion
The report gives an overview of consumer behavior and specific factors affecting consumer
behavior at Honda Vision. Many different elements affect the purchase and use of Honda
Vision products by consumers. Different groups with different levels of influence will have
different user behaviors. Mastering these factors will help the company understand
customers more deeply, Segment similar customer groups to better meet demand, and
predict consumer behavior to be able to come up with appropriate marketing strategies.
That helps Vision maintain Honda's "number one selling scooter" position and compete
with many other brands on the market.
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vision-hoan-toan-moi-song-vui-cuc-dinh
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huong-phat-trien
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