In the digital era, the evolution of marketing is relentless. We have moved from product-centric Marketing 1.0 to the digital-dominant 4.0, and now, the world is entering a new chapter called Marketing 5.0: Technology for Humanity. This is not just a trendy term but a revolution reshaping how businesses interact with customers. So, amidst this powerful current of change, where do Vietnamese businesses stand on the Marketing 5.0 map? Are they ready to seize opportunities, or are they still grappling with challenges?

What is Marketing 5.0 and why is it so important?

Defined by marketing legend Philip Kotler, Marketing 5.0 is the application of human-mimicking technologies to create, communicate, deliver, and enhance value across the customer journey. Its core is the harmonious combination of technological power and human sophistication and empathy. If Marketing 4.0 focused on moving businesses into the digital space, Marketing 5.0 brings technology in to serve humanity in a smarter and more humane way.

The pillar technologies of Marketing 5.0 include:

• Artificial Intelligence (AI): Analyzing big data to make predictions and personalize experiences.
• Natural Language Processing (NLP): Helping machines understand and interact with humans through chatbots and virtual assistants.
• Augmented Reality (AR) and Virtual Reality (VR): Creating immersive and interactive product experiences.
• Internet of Things (IoT): Connecting devices to collect contextual data and provide instant services.
• Blockchain: Enhancing transparency and security in transactions.

The importance of Marketing 5.0 is undeniable as customers increasingly demand more personalized, seamless, and immediate experiences. Businesses that fail to apply technology to better understand and serve their customers will quickly fall behind.

Are Vietnamese businesses ready for Marketing 5.0?

This is a complex question with a multi-faceted answer. In general, the Vietnamese market has many favorable factors but also faces numerous barriers. The overall picture can be sketched through its bright spots and dark corners.

Golden Opportunities:

• Golden population and high Internet penetration: Vietnam has a young, dynamic, and extremely tech-savvy consumer base. They are ready to embrace new digital experiences, creating fertile ground for Marketing 5.0 applications.
• The boom of e-commerce and digital payments: The pandemic has strongly accelerated the digital transformation process. Online shopping and cashless payments have become commonplace, generating a huge repository of customer data - the essential raw material for AI and predictive analytics.
• Government support: The National Digital Transformation Program has been creating a favorable legal and infrastructural corridor, encouraging businesses to invest boldly in technology.

Current Reality and Hidden Aspects:

In reality, the majority of Vietnamese businesses, especially SMEs, are still in the transition phase between Marketing 3.0 (human-centric) and Marketing 4.0 (marketing in the digital age). Many are still struggling to build a comprehensive digital marketing strategy, let alone apply complex technologies like AI or Big Data.

There is a clear polarization: while large corporations like FPT, Viettel, Vingroup, and top banks are pioneering the application of AI and blockchain, thousands of small and medium-sized enterprises are still fumbling with basic fan page management or Google Ads campaigns. This gap shows that the journey to Marketing 5.0 for Vietnamese businesses is still quite long.

What are the main challenges in implementing Marketing 5.0 in Vietnam?

To enter the Marketing 5.0 playground, Vietnamese businesses need to overcome four major hurdles:

• Technology Investment Cost: Building big data infrastructure, licensing AI software, or developing AR/VR applications requires huge capital investment. This is a significant challenge for the 97% of Vietnamese businesses that are SMEs.
• Shortage of High-Quality Human Resources: The Vietnamese labor market is 'thirsty' for data scientists, AI engineers, and marketing strategists who can combine analytical and creative thinking. Recruiting and retaining talent in this field is an extremely difficult problem.
• Data and Security Issues: Data is considered the 'new oil' of the digital age, but many Vietnamese businesses do not yet know how to 'extract' and 'refine' it. Data is often fragmented, inconsistent, and not standardized. In addition, personal information security under new regulations (like Decree 13/2023/ND-CP) is also a factor that needs careful consideration.
• Leadership Mindset and Corporate Culture: This is perhaps the biggest barrier. Many leaders still have a short-term mindset, are resistant to change, and fear the risks of investing in new technology. The lack of a data-driven culture means that marketing decisions are still based on intuition and lack precision.

What do Vietnamese businesses need to do to catch up with the Marketing 5.0 trend?

The journey to Marketing 5.0 is a marathon, not a sprint. Businesses need a methodical and realistic roadmap. Here are the strategic steps:

1. Change Mindset from the Top: The leadership team must be pioneers, clearly recognizing the importance of technology and data, while inspiring and committing to building a digital corporate culture.
2. Build a Solid Data Foundation: Start by collecting, consolidating, and cleaning customer data from all touchpoints (website, social media, CRM, physical stores). A centralized and consistent data system is the prerequisite for all future smart applications.
3. Invest in People as the Top Priority: Organize internal training programs, enhance data analysis skills and modern marketing thinking for the current team. At the same time, develop attractive policies to attract tech talent from outside.
4. Start with Small, Practical Applications (Start small, win fast): Instead of dreaming of large-scale AI projects, start with applications that deliver immediate results:
   • Deploy smart chatbots to automate responses to frequently asked questions, freeing up customer service staff.
   • Use marketing automation tools to personalize emails and send the right message to the right person at the right time.
   • Utilize analytics tools to gain deeper insights into customer behavior on digital channels and optimize campaigns.
5. Enhance Collaboration and Expand the Ecosystem: No one can walk this path alone. Businesses should actively collaborate with tech companies, specialized agencies, and universities to access new technologies and high-quality human resources.

Conclusion

Vietnamese businesses are at a crossroads in the Marketing 5.0 era. We have great potential from the market, but we also face countless challenges in technology, human resources, and mindset. The position on the map is not a fixed point but a continuously shifting journey. Businesses that recognize this early, act decisively, and place people at the center of every technology strategy will be the leaders who shape the future of marketing in Vietnam. Ultimately, Marketing 5.0 is not about technology replacing people, but about technology helping people connect with each other more deeply and meaningfully.