As we explore the marketing landscape of key countries in Southeast Asia, we’ve outlined the main features of marketing in Vietnam. Whether you’re a business owner in Vietnam, an entrepreneur eyeing expansion, or a marketer gearing up for work in this country, we hope you find our overview insightful. Let’s go through some special features that characterise marketing in Vietnamese society
1. Cultural Sensitivity
Vietnam’s rich cultural heritage and traditions heavily influence consumer behaviour and preferences. Conducting marketing there requires cultural sensitivity and the ability to tailor messaging to local values, beliefs, and customs. Understanding concepts such as “saving face,” respect for authority, and collectivism is crucial for building trust with Vietnamese consumers.
Read more about Vietnamese consumer behaviour in our blog post.
2. Youthful Population
Vietnam boasts a young and dynamic population, with a significant proportion under the age of 30 (the median age in Vietnam is 32.8 years). This demographic presents opportunities for marketers targeting tech-savvy and socially engaged Vietnamese consumers who are receptive to innovative marketing approaches, particularly through digital channels and social media platforms.
Structure of population in Vietnam by age, 2023. Source: United Nations Population Fund
3. Rapid Urbanisation
Urbanisation is rapidly transforming Vietnam’s demographic landscape, with millions of people migrating from rural areas to cities in search of better opportunities. In 2023, the urban population in Vietnam was 40.4 % and is continually growing in 2024. Marketers need to adapt their strategies to cater to the needs and preferences of urban consumers, who often have higher purchasing power and different consumption patterns compared to their rural counterparts.
4. Digital Transformation
Vietnam is experiencing a digital revolution, driven by widespread internet penetration, smartphone adoption, and the rise of e-commerce platforms. Digital marketing channels, including social media, SEO, and online advertising, play a pivotal role in reaching Vietnamese consumers, particularly urban millennials and Gen Z.
5. Importance of Relationships
Building and nurturing relationships is fundamental to doing business in Vietnam. Personal connections and networks play a significant role in business dealings and decision-making. Marketers should prioritise relationship-building activities, such as networking events, partnerships with local influencers, and community engagement initiatives, to establish trust and credibility with Vietnamese stakeholders.
6. Competitive Landscape
Vietnam’s burgeoning economy has attracted a growing number of domestic and international companies across various industries. The Vietnamese economy was highlighted by foreign investment attraction in 2023 when the world witnessed global difficulties. Marketers face the challenge of competition for market share and consumer attention, which requires application of innovative strategies to differentiate their brands and offerings in a crowded marketplace.
Conclusion
Vietnam stands out as an appealing destination in the Southeast Asian region, thanks to its burgeoning economy, demographics, and stable environment. However, navigating the marketing landscape in Vietnam demands a keen understanding of its unique characteristics, including cultural nuances, communication styles, and market trends. With a youthful population, rapid urbanisation, and increasing digitisation, businesses need to leverage these distinctive features and craft customised marketing strategies to connect with Vietnamese consumers.
What's next for you?
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