Scalar and vector quantities give magnitude, and that makes them similar. The difference is that the vector quantity gives direction as well as magnitude.
(vector) times (vector) produces either a vector or a scalar, depending onwhether the vector product or scalar product is performed.(vector) times (scalar) produces a new vector.
Speed is a scalar quantity as it has magnitude, and no direction. Velocity, on the other hand, is a vector quantity as it has both magnitude and direction.