GROUP ASSIGNMENT COVER SHEET

STUDENT DETAILS

Student name: Lương Thị Diệu Hiền Student ID number: 22002860

Student name: Phan Đăng Quang Student ID number: 23005172
Student name: Bùi Kiên Quyết Student ID number: 21002132
Student name: Lê Thị Thanh Thúy Student ID number: 22003346
Student name: Võ Trọng Nhân Student ID number: 22003759
Student name: Lê Châu Khánh Linh Student ID number: 23006385
Student name: Trần Thị Huyền Trân Student ID number: 23005334
UNIT AND TUTORIAL DETAILS
Unit
Unit name: Consumer Behavior number: CB-T224WSB-3
Tutorial/Lecture: Lecture Class day and time: Tue 12:00 - 15:15 PM
Lecturer or Tutor name: Mr.Vo Van Dung

ASSIGNMENT DETAILS

Title: GROUP REPORT - Xanh SM

Date
Length 16 pages Due date: 04/08/2024 submitted: 04/08/2024

DECLARATION
I hold a copy of this assignment if the original is lost or damaged.
I 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.
I hereby certify that no part of this assignment or product has been submitted by me in
another (previous or current) assessment, except where appropriately referenced, and
with prior permission from the Lecturer / Tutor / Unit Coordinator for this unit.
No part of the assignment/product has been written/ produced for me by any other
person except where collaboration has been authorised by the Lecturer / Tutor /Unit
Coordinator concerned.
 I am aware that this work may 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: Hien
Student’s signature: Quang
Student’s signature: Quyet
Student’s signature: Thuy
Student’s signature: Nhan
Student’s signature: Linh
Student’s signature: Tran
Note: An examiner or lecturer/tutor has the right to not mark this assignment if the above
declaration has not been signed.
 XANHSM
BIKE
Becoming a
MARKET
GROUP REPORT

LEADER
GROUP 5 01
TABLE OF
CONTENTS
01 MARKET OVERVIEW
Current market situation 03
Competitive situation 03
Market size and growth potential 04
Market trends 04

02 COMPANY OVERVIEW
Introduction of the company 05
Service portfolio 05
Service description 06
Target consumer 06
SWOT analysis 07
Company problem 07
Company objective 07

03 PROJECT DESCRIPTION
Research objective 08
Research summary 08
a) Research methodology
b) Demographic
c) Theories
Data analysis 09
a) Barriers (non-users)
b) Experience (users)
c) Expectation (users)
Customer insights 10
Recommendations
5.1 Price strategy
5.2 Service quality
a) Driver's attitude
b) Vehicles
c) Trip arrangement
Appendix 12
References 15

02
PART I: MARKET OVERVIEW
1. Current market situation
The demand for ride-hailing services in Vietnam has increased steadily in recent decades due to
the rapid - growth of urban population and a lack of quality public transport systems (Nguyen, 2024).
This market, additionally, is expanding significantly due to factors like rising urbanization, rising
disposable incomes, and ubiquitous smartphone and internet use. The tech - based motorbike taxi
industry is playing a bigger role in improving connectivity and urban mobility nationwide.

In recent decades, the motorbike taxi market in Vietnam is controlled over app-based ride hailing
service brands, in which they contributed for over 60% of the market share (Mordor Intelligence,
2024). A recent report estimated that Vietnamese spending on the ride - hailing apps makes up about
40% of total spending with nearly 80% of this spent on motorbike services (Q&M, 2021). Additionally,
in 2021, the revenues of the market were approximately USD 2.4 billion, and this industry established
itself as the second fastest - growing sector in Vietnam (following the retail e - commerce market)
with its annual growth rate of 30 - 35% from 2015 - 2021 (Dat, 2024).

2. Competitive situation
Currently, the technology ride-hailing market has the participation of large companies such as Grab
Holdings Inc., GSM Green and Smart Mobility Joint Stock Company, Be Group Joint Stock Company,
Go-Viet and FastGo Vietnam.
Grab Be Group Gojek

Mai Linh Viet Nam Corporation

XanhSM Others

Others
3.3%

XanhSM
18.2%

Viet Nam Corporation

2.1%
Mai Linh
2.7%

Gojek Grab
5.9% 58.7%

Be Group Figure 1. Ride - hailing market, revenue share

9.2% (in %), by company, in Vietnam, Q4 2023

Grab is the outstanding player in this industry which has been operating in the Vietnamese market
for a long time and has received high praise from the citizens. According to a Mordor Intelligence
report, Grab's market share is almost 60%, which is the largest market share in Quarter 4 of 2023.
Grab continues to dominate the technology vehicle market, steadily growing due to its varied
services, convenience, and user trust.

03
PART I: MARKET OVERVIEW
3. Market size and growth potential
By 2023, the market had reached a size of USD 727.73 million (Mordor Intelligence, 2024).
The market research firm Mordor Intelligence stated that by 2024, Vietnam's tech - based motorbike
taxi is predicted to reach USD 0.99 billion, and is expected to grow to USD 2.16 billion by 2029, which
reflects an intensive compound annual growth rate (CAGR) of 19.5% over the predicted period (2024
- 2029). The technology-based ride services in Vietnam promises significant potential which is
described as an "attractive pie," making both domestic and foreign investors on pins and needles (Lan,
2022). Therefore, this highlights the significant potential and opportunities for market expansion.

Figure: Vietnam's ride-hailing market is expected to achieve a compound annual growth rate (CAGR) of 19.5%
from 2024 to 2029, reaching a value of 2.16 billion USD in 2029. ( Mordor Intelligence, 2024 )

4. Market trends
a) The increase in the awareness of sustainability and environmental impacts
With the increase in available numbers of electric vehicles (EVs) from numerous brands, Vietnamese
are more conscious of using green mobility. Some drivers from different ride - hailing service brands
have started using electric motorbikes. Some companies have released services which totally use
electric vehicles: Ahamove, GSM, etc. This trend is a beneficial point for companies using EVs since
they will have a good brand image in customers' perception, especially those who are highly
concerned about their environmental impact.
b) Customer - centric approach
The customer-centric trend has become a core strategy in the motorbike taxi technology sector in
Vietnam, concentrating on optimizing customer experience, meeting their needs and desires in the
best way. This makes customers feel that they are cared for, and they have a significant impact on the
company's performance with functions such as 24/7 customer support policy or the ability to give
feedback.

04
PART II: COMPANY OVERVIEW
1. Introduction of the company
On March 6, 2023, Vingroup Chairman Pham Nhat Vuong announced the establishment of Green
and Smart Mobility Joint Stock Company (Green and Smart Mobility - GSM), a green and smart
vehicle rental unit. The introduction of the world's first multi-platform electric vehicle.

GSM operates mainly in two areas: electric car and electric motorbike booking service and electric
car rental with an investment scale of 20,000 cars and 60,000 motorbikes (Khoa & Ho, 2023). GSM
leases electric cars and motorbikes to transport companies to meet passengers' needs for green
transportation.

Thanks to the origin from Vingroup, the XanhSM Bike inherits vast customer data from its parent
company which is a value point contributing to its quick expansion and success. Mr. Nguyen Huu Tuan
– Head of the E-commerce Management Department - shared that in any field, data is very important,
especially customer data, and accurately assessing customer needs and consumer behavior plays a
key role in the success of a business. (Ministry of Industry and Trade, 2023).

After 7 months entering the market, Xanh SM has surpassed their competitors to be the second -
largest market share in the Quarter 4 of 2023, doubling its previous competitor. The company is highly
rated for service quality, scale of vehicles, coverage, and customer satisfaction (Anh, 2024). Since its
official launch, the company has served over 40 million passengers, achieving more than 200 million
kilometers of green travel and reducing CO2 emissions by 44,000 tons, equivalent to planting over 2
million trees (Thuy, 2024). With its rapid and impressive growth, XanhSM has promoted green mobility
across 35 provinces and cities in Vietnam which contribute over 12 billion VND to Vingroup's Fund for
a Green Future (Son, 2024).

2. Service portfolio
Xanh SM provides users with a diverse range of services, emphasizing the need for sustainable and
convenient transportation solutions.
XanhSM Bike
XanhSM Taxi
XanhSM Express
XanhSM Food
XanhSM Rental

05
PART II: COMPANY OVERVIEW
3. Service description
XanhSM Bike is a passenger transportation service using VinFast electric motorbikes of GSM
Company. The company has a unit selling point that uses Vinfast Feliz S and Vinfast Evo200 which are
creative and eco-friendly transport services that are revamping town travel. It has linked electric
bikes in ride-hailing markets to offer a sustainable and effective option for those commuting through
cities. This service seeks out to minimize the release of carbon as well as lower noise pollution while
offering an outstandingly good travel environment using state-of-the-art electric vehicle technology
(Thanh Hoa News, 2023).

4. Target consumer

Age: 19-35 years old

Income: $5000 - $30000/year
Demographic Sex: All genders
Occupation: Students, employees, office staff.

Country: Vietnamese
Geographic Region - Urban centers in Vietnam: Hanoi, Ho Chi Minh City, Da Nang,
Nha Trang, Hue, etc.

Social class: Middle to High Income

Personality: Tech savvy, Active, Self-aware.
Lifestyle: Young customers often use services to meet their needs
Psychographic from work, study to entertainment or are familiar with online ride-hailing
service and tech-savvy. They value experience and service quality or
are also willing to pay for safety and premium services that tend to
protect the environment and prioritize smart green services.

Usage rate: Heavy product users

Status user: Loyal customers, Potential customers, Regular customers.
Benefits sought: Prioritize safety and experience (no gasoline smell, no
engine noise, protect environment), high quality in services ( friendly
Behavioral driver, attentive customer care and ensuring trip safety), price
affordable ( offer a lots of vouchers in both regular hours and peak
hours, discount codes are provided with many different payment
methods)

Table 1: Target Customers of XanhSM Bike

06
 PART II: COMPANY OVERVIEW
5. SWOT analysis

Strengths Weaknesses

XanhSM inherits available strong financial potential, a

nationwide network of operations and a large number of Newcomer in the competitive
loyal customers from its parent company - Vingroup. market.
Unit selling points: totally electric vehicles, from Vinfast They have not attracted a vast
which is a well-known electric vehicle manufacturer. amount of customers.
User-friendly app interface. Brand awareness in the market is
The drivers are selected, well-trained, have positive still low.
attitudes, and caring about customers. (H. Anh, 2023) The number of drivers is still
Good brand image due to its emphasis on environmental limited and not widespread.
impact.

Opportunities Threats

Pioneering brand in changing the face of public transport,

spreading the green living trend and promoting
community awareness about environmental concerns. Fierce competition from major
(Vy, n.d.) players in the market.
Thesignificant potential and opportunities for market Consumer habits and behaviors
expansion. change rapidly and continuously.
The increase in the number of people interested in and Economic recession affecting
prioritizing using environmentally friendly services and consumer spending power and
products. usage rates.
Affiliate with numerous various partnerships, ranging from
financial services to smaller companies.

Table 2: SWOT analysis of XanhSM Bike

6. Company problem
XanhSm, a newcomer in Vietnam's ride-hailing market, is the only brand that has unit selling points of
utilizing electric vehicles and the origin of Vietnam. Customers assume that the first brand that comes to
their mind regarding ride-hailing services is Grab (focus group analysis). Despite Xanh SM's competitive
advantage, it has not been the leader of its industry yet due to the dynamic and competitive market
among fierce competitors.
7. Company objective
To address the challenge of existing in the competitive ride-hailing service industry, Xanh SM Bike sets
an obvious company objective of becoming the market leader in the Vietnam market which is the first
choice in customers' minds.

07
 PART III: MARKET RESEARCH
1. Research objective
The research aims to identify the barriers among users that prevent them not to use the XanhSM Bike
services. Additionally, customers' experience and expectation toward the company service are also the
goals of this research.

2. Research summary
a) Research methodology
Fifteen respondents from Generation Z were interviewed online via Google Meet and divided into two
groups: Users (10 participants) and Non - Users (5 participants). The questions focus on users' experience,
expectation, and barriers for non - users regarding ride - hailing services generally and XanhSM Bike
brand in specific. Each interview took around 30 - 45 minutes.

b) Demographic

Non - User User

Gender 5 males 6 females, 4 males

Age 19 - 20 18 - 20

Dong Nai, Ho Chi

Geographic Ho Chi Minh
Minh

Occupation Students

Table 3: Demographic summary of participants.

c) Theories
Perception: By considering Xanh SM in this manner, factors affecting adoption of ride-sharing services in
Vietnam can be understood.

Motivation: By identifying customers' motivation regarding the choice of ride - hailing services, the
company can leverage to redesign and improve its overall service.

Attitude: By understanding and addressing the attitudes of both non-users and users towards Xanh SM,
the company can strategically enhance its market position, build stronger customer relationships, and
drive growth.

08
 PART III: MARKET RESEARCH
3. Data analysis
a )Barriers (non - users)
Most non - users admitted that they do not use ride - hailing because using their personal vehicle is
more economical than booking a motorbike taxi. However, interviewees noted that they would consider
using this kind of service if there are more discount vouchers available.

Another factor making participants become non - users is service quality, especially hygiene and drivers'
attitude. They shared some negative experiences from a time using ride - hailing service, mostly
regarding unclean helmets, vehicles and the attitudes of the drivers (aggressive, impolite, unprofessional).
b) Experiences (users)
Generally, users of tech - based motorbike taxis have experienced XanhSM Bike and they are satisfied
when it comes to service quality, especially drivers' attitude of serving. Participants shared that when
using the company service, they experienced a good trip since the helmet and vehicle are clean. The
drivers’ attitude is a bonus point due to their friendliness and nice, politeness. The price is another point
satisfying the customers of XanhSM Bike thanks to the amount of available vouchers and reasonable price
compared to others.

Nevertheless, some of the respondents did suffer from annoying experiences when using the XanhSM
Bike service. As mentioned, the service uses two types of vehicles for motorbike taxi: Feliz and Evo.
Particularly, interviewees assumed that they do not feel comfortable when sitting on the Evo one since the
seat is quite small, especially when it comes to long journeys.

Additionally, half of the respondents who are users are unsatisfied about waiting time. Although the
booking is quite easy due to numerous available vehicles. The drivers that XanhSM Bike arranged often
are far away from the picking up point. Therefore, they have to wait for the drivers for a long period, and
this is even worse when it comes to rush hour.
c) Expectations (users)
Having been asked about expected improvements for XanhSM Bike, most of the answers aligned with
the negative and unsatisfied experience. Initially, participants would like to see the ability to choose their
desired vehicles. In addition, generally users of ride - hailing find it difficult to book a ride in rush hour due
to waiting time. Thus, they would be satisfied if the company offers improvements regarding this. Finally,
users of XanhSM Bike conceded that they would like to see more vouchers so the price is cheaper.

09
PART III: MARKET RESEARCH
4. Consumer insights
a) Insight 1: Customers, especially non - users will consider booking a ride if they feel that the benefit
they gain is higher than the cost they pay for.

b) Insight 2: Customers of this type of service are conscious of drivers’ attitude of serving. They will
feel unsatisfied and uncomfortable with impolite or aggressive drivers.

c) Insight 3: Experience during the trip is a considered factor contributing to the decision of using a
tech - based motorbike taxis brand. Customers prefer a brand offering the most enjoyable and
comfortable experience.

d) Insight 4: Service quality, ranging from booking to waiting time, are other key points influencing users
continuing using a tech - based motorbike taxi brand. Especially in rush hour, customers would like to
choose a brand that has the fastest response when they book a ride.

5. Recommendations
5.1 Price strategy

XanhSM is doing great in this strategy since their users are satisfied with this. The company should
maintain its current pricing strategies. XanhSM could offer its customers loyal programs with more
vouchers in order to retain them and turn them to loyal customers.
5.2 Encouraging non - users
Since the public have the behavior of comparing what they lost and gain, XanhSM Bike should have
marketing strategies convincing customers that choosing their brand is an economical choice compared
to using a personal vehicle. The company could make some comparisons between two options: parking
and operating cost of traditional motorbikes.

Firstly, parking in the downtown area is an “arduous" thing and private parking areas charge a very high
price. XanhSM Bike could leverage this to persuade the public that with XanhSM, customers do not need
to worry about these problems and it is more time saving. Secondly, the traditional vehicles use gasoline
to operate, and individuals have to pay the regular vehicle maintenance fees such as oil changes, tire
replacements, and repairs. However, with XanhSM Bike, they do not need to care about these.
5.3 Service quality
a) Drivers' attitude
This is one of the outstanding points of the XanhSM brand compared to their competitors. Xanh SM
should leverage making this into a signature point that whenever individuals mention the XanhSM service,
customers know that their drivers are nice and polite. Thus, the company needs to ensure the working
attitude of all drivers are professional by training programs.

10
 PART III: MARKET RESEARCH
b) Vehicles
XanhSM Bike uses Evo electric motorbikes which make customers not feel comfortable when sitting,
especially with long journeys. This issue could be tackled by allowing users to choose their desired
vehicles. This function has been done in the case of Grab in which they allow their customers to choose if
they want an underbone or a scooter, and they charge a higher price for scooters. XanhSM could
empower customers to choose either Feliz or Evo.
Since XanhSM is available for the food delivery and express, the company could consider using the Evo
vehicles for these two services. They could totally use Feliz for motorbike taxis and the rest for delivering.

c) Trip arrangement
Aligning with the complaints from users, XanhSM needs to fix their trip arrangement to meet their
customers' needs. The app development departments of the company should redesign and improve their
algorithms of the apps. The drivers found for each ride should not be too far from the picking up point so
that customers do not need to wait for a very long time. This could take time and money to conduct, but it
will enhance customers' experience and satisfaction. By these improvements, XanhSM could be
outstanding among fierce competitors.

By reviewing and improving these mentioned points, XanhSM could meet their customers' preferences
and expectations as well as ease the barriers preventing individuals using the service to enhance its
service quality. Therefore, they establish themselves as a leading choice in customers' choice regarding
ride - hailing services.

11
 APPENDIX
Discussion guide

INTRODUCTION AND WARM UP

Asking for participants information about name,

gender, occupation and living place.
2 - 3 minutes
Briefly introducing the interview in terms of
reasons, objectives.

UNDERSTANDING CUSTOMERS' USAGE BEHAVIOR WHEN USING RIDE-

HAILING SERVICES

How often do you use ride-hailing services?

For what purposes do you typically use ride-
hailing services (commuting to work, social
outings, errands, emergencies)?
How does the cost of ride-hailing services
influence your decision to use them?
Do you find ride-hailing services more cost-
effective compared to other transportation
options?
Are you loyal to a specific ride-hailing brand? 10-15 minutes
If so, what drives your loyalty?
What could make you switch from your
preferred ride-hailing service to another?
How do promotions and discounts influence
your decision to use ride-hailing services?
Have you ever chosen a ride-hailing service
solely because of a promotion or discount
offer?Have you ever used the Xanh SM
service?

12
 APPENDIX
Discussion guide

IDENTIFYING CUSTOMERS' INSIGHT ABOUT XANH SM

GROUP 1: XANH SM USERS

1. Brand Recognition
How did you first learn about Xanh SM?
How often do you see Xanh SM advertisements or promotions?
On which platforms do you frequently see Xanh SM promotions?
When thinking of ride-hailing services, which brands come to mind first?
Why?
What specific branding elements do you associate with Xanh SM?
2. Characteristics Associated with Xanh SM
How would you rate the professionalism and quality of Xanh SM drivers?
What features make Xanh SM different from other ride-hailing services you
use?
Are there unique aspects of Xanh SM's service that you particularly value?
3. Level of User Usage and Satisfaction
How frequently do you use Xanh SM services?
How satisfied are you with Xanh SM's services on a scale of 1 to 10? Why? 15 - 20 minutes for
Likelihood of Repurchasing Products or Services each group
How likely are you to continue using Xanh SM in the future? Why or why not?
What factors most influence your decision to use Xanh SM again?
Are you aware of Xanh SM's loyalty programs? Do they impact your usage?
4. Barriers and Challenges
What factors might prevent you from choosing Xanh SM as your primary
ride-hailing service?
Have you faced any issues or challenges while using Xanh SM?
How would you rate the overall quality of Xanh SM's services?
What specific areas of the service do you think need improvement?
5. Competitive Advantages
How does Xanh SM compare to other ride-hailing services you have used?
What advantages do competitors have over Xanh SM?
What can Xanh SM do to gain a competitive edge in the market?
Are there features or services from competitors that you would like to see in
Xanh SM?

13
 APPENDIX
Discussion guide

IDENTIFYING CUSTOMERS' INSIGHT ABOUT XANH SM

GROUP 2: XANH SM NON - USERS

1. Brand Recognition
Have you heard of Xanh SM before? If so, how did you learn about it?
How frequently do you encounter Xanh SM in advertisements or media?
On which platforms do you see Xanh SM promotions most often?
How noticeable do you find Xanh SM’s marketing efforts compared to other
brands?
2. Barriers and Challenges
What are the main reasons you choose not to use ride-hailing services like
Xanh SM?
Have you had any negative experiences with ride-hailing services that
influenced your decision not to use them?
What transportation methods do you currently use instead of ride-hailing
services (e.g., public transportation, personal vehicle, walking)?
15 - 20 minutes for
3. Competitive Advantages
each group
Are there specific features or services from competitors that make them
more attractive to you?
Potential Influences to Start UsingWhat incentives or changes would make
you consider using ride-hailing services (e.g., lower prices, improved safety,
better availability, good services)?
Would specific promotions or discounts encourage you to try a ride-hailing
service? If so, what kind?
Are there specific improvements in ride-hailing services that would make
you more likely to use them (e.g., better safety measures, more reliable
service, cleaner vehicles)?
What features or services do you think ride-hailing companies should offer to
attract new users?
Would recommendations or positive reviews from friends and family
influence your decision to try Xanh SM?
How important are user testimonials and ratings in your decision-making
process for choosing a ride-hailing service?

14
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