(TIỂU LUẬN) a study of brand awareness about love beauty and planet among youngsters in district 10

HO CHI MINH CITY UNIVERSITY OF FOREIGN LANGUAGES - INFORMATION TECHNOLOGY DEPARTMENT OF INTERNATIONAL BUSINESS ADMINISTRATION -*** A MARKETING RESEARCH PROJECT ‘ Major: Marketing A study of brand awareness about Love Beauty and Planet among youngsters in District 10 Student’s name: Tran Nguyen Xuan Truc Class: Marketing Research Course: 2018-2022 HCMC, June/2021 Abstract The paper concerned with the interest standard of vegan cosmetics The consumption of vegan products is restrict by many barriers The first limitation is the lack of understanding of vegan products Consumers only have a habit of consuming non-vegan products Consumer behavior affects significantly the amount of vegan product's consumption Buyers are impacted by social relationships that put an important influence on emotion and attitude toward their decision for vegan products To increase the vegan cosmetic’s consumption Businesses widen marketing campaigns to attract customers The method of increasing brand identity for vegan cosmetics need performing well The quantitative approach has been used in this study and data was collected through a survey with the questionnaire, which surveyed students in Ho Chi Minh City This study helps consumers to better understand the value of vegan products, and at the same time helps companies have a better vision when it comes to advertising strategies to attract customers Key words: vegan cosmetics, consumption, consumer behaviour, awareness, brand percepion TABLE OF CONTENTS CHAPTER 1: INTRODUCTION .5 1.1 Background of the research .5 1.2 Problem statement 1.3 Marketing research objectives 1.4 Research methodologies 1.5 Scope and limitation 1.5.1 Scope of study 1.5.2 Limitation CHAPTER 2: FINDING AND DISCUSSION 2.1 Overview of the chosen company 2.2 Focus groups 10 2.2.1 Sampling Techniques 10 2.2.2 Focus group 10 2.3 Data collection .12 2.3.1 Primary data .12 2.3.2 Secondary data 13 2.3.3 Data collection process 15 2.4 Data analysis 16 2.4.1 The type of cosmetics consumed regularly 16 2.4.2 Love Beauty and Planet Brand Awareness 17 2.4.3 Priority In Choosing Vegan Cosmetics 19 2.4.4 Love Beauty Planet Brand Awareness Levels 20 2.4.5 Brand recognition factors for Love Beauty And Planet .21 2.4.6 The customers’ thinking about brand name Love Beauty and Planet 22 2.4.7 Love Beauty and Planet Product recognition through product packaging 23 2.4.8 The factors that increase brand equity in advertising 25 2.4.9 Love Beauty and Planet's social media channels .26 2.4.10 Advantages of vegan cosmetics 27 2.4.11 Price Strategy of Love Beauty and Planet products 28 2.4.12 The significant differences between products of Love Beauty and Planet and those of competitors 29 2.4.13 The reasons for purchasing Love Beauty and Planet .30 2.5 Problems and solutions 30 CHAPTER 3: RECOMMENDATIONS AND CONCLUSION 33 3.1 Recommendations 33 3.2 Conclusion .33 References 35 LIST OF TABLE Table 2.4.1 Factors in brand awareness that customers can know……………………………22 Table 2.4.2 Factors in the perception of packaging that customers can know……………… 23 Table 2.4.3 Factors related to product advertising…………………………………………… 25 LIST OF FIGURES Figure 2.4.1 The type of cosmetics consumed regularly……………………………………… 16 Figure 2.4.2 Customer awareness of Love Beauty and Planet………………………………… 17 Figure 2.4.3 Priority In Choosing Vegan Cosmetics…………………………………………….19 Figure 2.4.4 Love Beauty and Planet Brand Awareness……………………………………… 20 Figure 2.4.5 Brand recognition factors for Love Beauty and Planet…………………………….21 Figure 2.4.6 The customers’ thinking about brand name Love Beauty and Planet…………… 23 Figure 2.4.7 Love Beauty and Planet Product recognition through product packaging…………24 Figure 2.4.8 The factors that increase brand equity in advertising………………………………25 Figure 2.4.9 Love Beauty and Planet's social media channels………………………………… 26 Figure 2.4.10 Advantages of vegan cosmetics………………………………………………… 27 Figure 2.4.11 The level of spending on buying cosmetics……………………………………….28 Figure 2.4.12 The reasonable price of Love Beauty and Planet products……………………… 28 Figure 2.4.13 The significant differences between products of Love Beauty and Planet and those of competitors……………………………………………………………………………………29 CHAPTER 1: INTRODUCTION 1.1 Background of the research Love Beauty and Planet is a vegan product line that does not use ingredients derived from animals and does not test on animals By entering the market with products which are made from eco-friendly ingredients, the reason why customers are attracted is nowadays people change their mind by consuming environmental protection-oriented products (Stávková et al., 2008) Therefore, the rate of Love Beauty and Planet consumption is registered a significant change As a result, the profit margin is widened and it is a foundation for Love Beauty and Planet to upgrade the product quality Although the definition of vegan products is quite strange to some customers, these days people are used to consuming more than those in the past (Morwitz, 2014) The distribution of Love Beauty and Planet is quite popular to young segmentation With marketing campaigns, consumers are approached and widen their knowledge about vegan products (Satit et al., 2012) In fact, in the market about beauty, there are many branches not only domestic branches but also foreign branches, Love Beauty and Planet have a fixed amount of customers Throughout the study, Love Beauty and Planet awareness is evaluated and is able to conjecture the level of consumption about this product line, the business can plan strategies that serve customer demand and push sales (Alvarez & Casielles, 2005) The data is collected by the quantitative method which measures the level of brand equity and consumption In detail, the research is surveyed to serve a goal that approximates the number of people who know and consume Love Beauty and Planet products and create new strategies and innovations about products following to customer’s feedback in the survey as a result (Aaker, 1996) 1.2 Problem statement Love Beauty and Planet brand desire to enlarge their brand equity to be more popular, and people will take before having experience on beauty care from Love Beauty and Planet as a result However, the awareness of these products is restricted by some reasons such as competitive brands In case of not broading its fame in comestic market, Love Beauty and Planet brand is predicted to get out of the mind of customers in the choice of beauty cares To achieve the goal that consumers are awarded of the brand more, Love Beauty and Planet should propose campaigns related to popularize the brand and the main concept which is a vegan cosmetic brand 1.3 Marketing research objectives Research topics focus on solving specific goals after: Learn and systematize issues related to brand and brand awareness Assessing the level of brand awareness and measuring the factors affecting the brand awareness of Love Beauty and Planet in Ho Chi Minh city Orientation and propose solutions to improve the brand awareness of Love Beauty and Planet Learn and systematize issues related to brand and brand awareness Assessing the level of brand awareness and measuring the factors affecting the brand awareness of Love Beauty and Planet in Ho Chi Minh city Orientation and propose solutions to improve the brand awareness of Love Beauty and Planet cooperative in Ho Chi Minh city Can offer strategies to promote brand values in the hearts of consumers and increase brand awareness among competitors 1.4 Research methodologies To collect information, including brand concept identification data, Love Beauty and Planet brand data In addition, additional data was collected from various sources such as websites, research papers, graduate theses, etc Essential information was collected through a research using google Forms in Ho Chi Minh City Key information was gathered through a standardized questionnaire survey aimed at interacting with young people, and those living and working there, who had an understanding of Love Beauly's level of product awareness and Planet The quantitative poll was launched through a structured google study of customers using a basic poll, at which point the poll changed to lead to a relevant overview with an example size of 200 The information collected will be the actual programming SPSS and the Google Forms prepared The researchers will process the collected data and conduct descriptive statistical analysis and graph drawing Since then, the current situation and consumption demand of Love Beauty and Planet products are presented 1.5 Scope and limitation 1.5.1 Scope of study The target surveyors in the age of 18 to 28 years old study and work in district 10 in Ho Chi Minh City These groups have an awareness and even an experience of Love Beauty and Planet products As a result, recorded customer feedback can determine the scale of the brand equity from which Love Beauty and Planet's Research and Development and Marketing departments can plan suitable strategies 1.5.2 Limitation Although the topic has solved the research objectives, there are still some limitations as follows: First, due to time limitation, the amount of data collected is about 230 samples, so the According to the statistics above, the psychology of brand awareness through packaging is at its peak because packaging is one of the factors that helps to quickly and easily identify and is also a sign that your customers remember and recognize you when placed alongside hundreds of other competitors on store shelves Furthermore, fragrance is an important consideration when selecting a product Almost all products sold for easy identification now include a scent test, and many consumers express satisfaction with a more pleasant scent than other products Users claim that they are loyal to the brand they use because it meets this need This label's health safety factor, which has been tested by the Ministry of Health and does not cause skin irritation, is especially notable and appreciated Aside from the use of logo elements, the name may be duplicated, but the logo is unique and represents only one brand Typically, the logo will be displayed in the form of a drawing, texture, typeface, or a special symbol to facilitate public recognition 2.4.6 The customers’ thinking about brand name Love Beauty and Planet Number of customers Disagreement Neutral Agreement Easy-to-read brand name 40 131 Easy-to-remember brand name 20 55 105 Meaningful brand names 20 47 113 Impressive brand name 30 44 106 Table 2.4.1 Factors in brand awareness that customers can know Elements of a brand name 21 80% 72.8% 70% 62.8% 58.8% 58.3% 60% 50% 40% 30.6% 30% 26.1% 24.5% 22.2% 20% 10% 0% 16.7% 11.1% 11.1% 5.0% Easy pronunciation Easy memory Disagreement A meaningful name Neutral An impressive name Agreement Figure 2.4.6 The customers’ thinking about brand name Love Beauty and Planet (Source: Author) Choices in the survey were divided into four groups: Group of easy pronunciation, group of easy memory, group of meaningful brand name, and a group of an impressive brand name In the surveyed process, the highest in each group is a total agreement answer There is over 50% of responses agree the brand name to be easy to read The data for neutral is over 20% in every group The rest takes up from 5% to under 20% 2.4.7 Love Beauty and Planet Product recognition through product packaging Elements of product Number of customers Disagreement Neutral Agreement packaging Harmonious packaging colors Packaging is highly aesthetic Packaging provides complete 10 32 75 138 100 information about the product to 20 51 109 consumers Table 2.4.2 Factors in the perception of packaging that customers may know 22 90% 80% 76.7% 70% 60.6% 60% 55.5% 50% 41.7% 40% 28.3% 30% 17.7% 20% 10% 0% 11.1% 5.6% 2.8% Color Disagree Normal Agree Aesthetics Completeness Of Product Information Figure 2.4.7 Love Beauty and Planet Product recognition through product packaging (Source: Author) According to the survey results, customers will be attracted and purchase your product if you provide eye-catching, aesthetic, and informative packaging In fact, Love Beauty and Planet has won the hearts of consumers, with more than 160 customers purchasing Love Beauty and Planet products directly from the product packaging Furthermore, the color of the product is very important because it accounts for the greatest percentage, the second is the aesthetic, and the remainder is the product information provided by the packaging As a result, in business, product packaging is one of the most important factors influencing customer purchasing decisions The same product has undeniably the same quality, but if it has a more beautiful and luxurious packaging design, it will attract more customers 2.4.8 The factors that increase brand equity in advertising Factors related to product Number of customers Disagreement Neutral Agreement 23 advertising Impressive advertisements 12 52 Various advertising tools 16 50 Sufficient information transfer 28 35 Table 2.4.3 Factors related to product advertising 70% 60% 50% 40% 30% 20% 10% 0% Im 64.4% 116 114 117 65.0% 63.3% 28.9% 27.8% 15.8% 6.7% pr siv es e r ve d a em tis 19.2% 8.9% en ts ri Va s ou ad sin r ti e v g to ol s Su Disagreement Neutral f f ic nt ie f in or m at io n fe ns rt a r Agreement Figure 2.4.8 The factors that increase brand equity in advertising (Source: Author) In the question that required responses to answer how they can understand about the brand name and also information related to products There are three options that consist of impressive advertisements, various advertising tools, and sufficient information transfer answerers to evaluate The answer of agreement is equal among groups In particular, the figure for agreement answers is highest for all of the options (over 65%) The responses of neutral answers are accounted for from under 20% to under 30% The rest is taken up at least 6% and at highest around 18% 24 2.4.9 Through words 35.8% Love Relatives, friends 58.2% Agents, shops 45.3% Internet 72.6% Television, newspapers 0% 38.8% 10% 20% 30% 40% 50% 60% 70% 80% Beauty and Planet's social media channels Figure 2.4.9 Love Beauty and Planet's social media channels (Source: Author) By surveying Love Beauty and Planet's social media channels It can be seen that the Internet accounts for the highest rate of 76.2%, this is the strongest information transmission channel, capable of attracting a large number of customers everywhere The second information channel is referrals from relatives and friends, accounting for 58.2%, this is an easy place to create trust when customers decide to buy a certain product The next ranking is to introduce and display products at stores and dealers as well Because it is easy and convenient to access the available customers when shopping there at the rate of 45.3% Word-of-mouth channels and newspapers have a low rate of only about 35-38% As a result, the company should focus on advertising on the internet, promote trial programs to improve reach, as well as customer confidence in the product 25 2.4.10 Advantages of vegan cosmetics Using natural ingredients 68.70% Environmental Protection 77.60% Safe for skin 64% 73.60% 66% 68% 70% 72% 74% 76% 78% 80% Figure 2.4.10 Advantages of vegan cosmetics (Source: Author) More than 98% of the 180 survey participants answered that they prefer to use products with natural ingredients All of this can be easily explained through Figure 2.4.10, most people know the benefits of natural cosmetics as safe products for users' health, contributing to environmental protection, and natural ingredients The benefits of product availability, bringing a competitive advantage over rival firms, especially the company, have produced popular product lines in every family, such as shower gel, toothpaste, and shampoo, bring values from the simplest things It can be said that this is a fairly new product line for the Vietnamese market They have changed the way consumers think, instead of using conventional cosmetics, use natural cosmetics 26 2.4.11 8.0% Price 18.4% 100.000 VNĐ - 300.000 VNĐ 22.9% 300.000 VNĐ - 500.000 VNĐ 500.000 VNĐ - 1.000.000 VNĐ < 1.000.000 VNĐ 50.7% Strategy of Love Beauty and Planet products 14.4% Resonable Not resonable 85.6% Figure 2.4.11 The level of spending on buying cosmetics (Source: Author) Figure 2.4.12 The reasonable price of Love Beauty and Planet products (Source: Author) Looking at Figure 2.4.11, we see that consumers spend about 300.000VNĐ – 500.000VNĐ, accounting for about 50.7% on buying cosmetics, this is a mid-range figure that is not too high for students, and working people Nearly 30% of survey respondents spend about 500.000VNĐ -1.000.000VNĐ on cosmetics, which is quite a lot, showing that they are very 27 interested in taking care of themselves Besides, we see that the price of Love Beauty and Planet's products is from 150,000 VND or more, this is a reasonable price that can reach a focused customer group With 85.6% of survey participants in Figure 2.4.12 found that the price of the product is reasonable Therefore, the company has launched a very good price strategy, which should continue to be promoted in the near future Create many conditions such as promotions, incentives, vouchers for customers to know more about the product 2.4.12 The significant differences between products of Love Beauty and Planet and those of competitors Quality 41.1% Customer service 51.1% Marketing methods 60.0% A reasonable price 62.2% An impressive packaging 0% 70.0% 10% 20% 30% 40% 50% 60% 70% 80% Figure 2.4.13 The significant differences between products of Love Beauty and Planet and those of competitors (Source: Author) Responses can choose more than two options following their thinking about what elements are vital to differentiate Love Beauty and Planet's products from others The reason why people want to purchase the products from Love Beauty and Planet more is the impressive packaging (over 60%) Following that, a reasonable price is also an element that is standout over competitors in the beauty care market The third factor is the way of marketing that 28 accounts for over half of surveyed answers The customer service and quality took up 45% and 36% respectively 2.4.13 The reasons for purchasing Love Beauty and Planet This question in the survey is an open question that users can express their thinking about the decision of buying Love Beauty and Planet products The majority of responses are the impressive packaging and the reasonable price Besides, most of the purchasers tend to buy these beauty care products due to the suggestions from relatives or friends and the widespread marketing campaigns in social networks such as Facebook, Youtube, and so on Following that, the product-oriented factors such as fragrance, ingredients However, some people who answered the survey have not ever bought Love Beauty and Planet, they just look at these products in offline stores and online forums, they cannot determine the causes to buy these products 2.5 Problems and solutions After synthesizing all of the survey responses, the writer filtered out the contributing results to help people better understand Love Beauty and Planet products First, when asked about customers' obstacles to purchasing vegan products Love Beauty and Planet, the most common response is the product's effectiveness With the growth of the economy, the sales process becomes increasingly difficult because the market for vegan cosmetics is becoming more diverse, and customers are demanding higher quality products To raise awareness of the vegan cosmetic brand, Love Beauty and Planet must the following: Create a prestigious corporate image for the vegan cosmetic line When deciding whether or not to launch a product, make certain that the product is of the highest quality when it reaches the 29 consumer It is necessary to have a clear and specific direction, to expand the scale of cultivation and production, and to improve technology so that the final product meets the Vegan standard, because this is predicted to be a consumer trend for cosmetics and other ingredients Natural materials are an advantage of living in a tropical country like Vietnam Focusing on market and consumer research, conducting surveys, and listening to consumer opinions in order to develop strategies for product upgrades as well as building a reasonable price policy, with the goal of welcoming customers' top consumer trends The second concern is the cost Vegan cosmetics are relatively new to the market According to research, the price of the product is also the most influential factor in consumers' decision to purchase vegan cosmetics Pricing policies should be implemented by businesses in order to improve the competitiveness of their products Diversify product lines with varying prices based on target customers Furthermore, the findings show that “Consumer awareness” is a factor influencing awareness of vegan products Consumers now value not only product quality but also how businesses produce products, whether they are friendly to the environment, the community, or are humane and healthy The vegan lifestyle exemplifies what it means to care for animals, address climate change, live sustainably, and be healthy The author suggests the following to raise awareness of vegan cosmetics through this factor: Raise consumer awareness about environmental and animal protection While current vegan cosmetic lines are packaged in environmentally friendly packaging that is simple to reuse, recycle, and use vegan cosmetics, this means that they are helping to reduce the amount of plastic waste and chemicals Learning about the environment and limiting the consumption of animal-related products means working together to protect the environment and innocent animals As a result, it is necessary to provide consumers with more comprehensive, complete, specific, and clear information about vegan cosmetics so that they can understand the 30 characteristics, benefits, and related information Direct sales of vegan cosmetics with guaranteed certifications associated with specific labels will help persuade consumers of their quality and benefits More specifically, the author has some practical constructive comments and suggestions that can be made in the capacity of Love Beauty and Planet To begin, Love Beauty and Planet can create a minigame program that asks about vegan cosmetics knowledge to help people become more aware and knowledgeable about vegan cosmetics It is also necessary to pay attention to the ad's slogan Slogans must capture the trend and be concise in their message in order to become an influential saying that can be used in everyday life, particularly when addressing a specific customer group They can use the tagline to spread awareness about Love Beauty and Planet through word-of-mouth marketing 31 CHAPTER 3: RECOMMENDATIONS AND CONCLUSION 3.1 Recommendations To extend the brand using online media It is important to set clear and controllable goals Goals include frequency of posting per day or per week across online media, media stage, speed of response to customer requests and necessities, and how much substance to create Quality writing makes all the difference" is a fact that is verifiable in the media The appeal and connection to the content is timeless implications for brand reach Marking techniques and strategies have changed dramatically over the course of many years Advertisers need to gain proficiency with a consistent course of new, constantly changing standards in order to progress Online Media Marketing strategies are more effective if the advertiser makes an online media schedule This can be utilized in requests to plainly arrange thoughts and keep away from any redundancy of them Content schedules can be utilized to settle on choices like what to post, where to post it 3.2 Conclusion In conclusion, according to the survey’s result, it is necessary to gain the brand equity of Love Beauty and Planet more popularly Especially, the study put importance on the organic ingredients gaining consumers’ awareness Focus groups in this study are also localized target customers that Love Beauty and Planet towards Thanks to the research, Love Beauty and Planet will new directions that help to widen the brand name in the beauty care market Besides consumers who used to and keep using those products; however, there are a certain amount of 32 people who have not used them before It is important that Love Beauty and Planet would better figure out ways that approach and increase the consumption rate Moreover, the customer behavior and thinking of users are shown in this research Thereby, the company is able to understand how much their brand name is known, how many their products are consumed, and what they need to to serve customers and broaden business scale 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