MARKETING PLAN FOR COCOON BRAND OF NATURE STORY COSMETICS CO., LTD Nature Story Co., Ltd. was formed in 2015, and after 7 years of creation and development, the firm has carved out a niche in the Vietnamese cosmetic industry with a diverse range of highquality goods that meet the demands of consumers. Nature Story Co., Ltd. is currently one of the leading partners, providing various lines of cosmetics throughout retail outlets and supermarket chains in Vietnam. The firm specializes in the production of cosmetics, soaps, detergents, surface glossing, and sanitary preparations, as well as wholesale food, home products, and packaging services. But most notable is the pure vegetarian cosmetic cocoon. Cocoon has long been renowned as a pioneer in the green cosmetics line of Vietnamese beauty cosmetics. Cocoon is quickly loved because it is a vegetarian product, and each product is designed with beautiful, wellgroomed packaging and meaningful messages.
UNIVERSITY OF ECONOMIC AND BUSSINESS VNU MARKETING PLAN FOR COCOON BRAND OF NATURE STORY COSMETICS CO., LTD Name : Lê Thị Mai Anh Class : QH2021E- QTKD- CLC4 Student ID : 21050131 Teacher : Ph.D Nguyễn Thị Phi Nga MBA Lê Thanh Hương Subject : Principle of Marketing Mục lục Chapter 1: Introduction I Natural Story Cosmetics CO., LTD II Cocoon 2.1 Cocoon’s business mission 2.2 Cocoon’s stategic vision 2.3 Achievement I Macro environment Political and legal environment Economic environment .4 Social and cultural environment .5 Demographic evironment Technology environment 6 Ecological environment II Micro environment Suppliers Marketing intermediaries Competitors General Public III SWOT 10 I Market segmentation 10 Geographic segmentation 11 Demographic segmentation 11 2.1 Age 11 2.2 Gender 12 2.3 Occupation 12 2.4 Income 12 Spychographic segmentation 13 II Targetting 14 Undifferentiated Marketing 14 Differentiated Marketing 14 Niche Marketing .14 III Positioning 15 I Arcording to the benefits 16 Group of products for lips 16 Group of hair care products 16 Group of skin care products 17 Group of body products 17 II According to the reason to buy 17 Bought for work reasons 17 Buy because celebrities trust: 18 I Product 18 II Price 19 III Place .20 IV Promotion 21 The first phase: Approaching the customer 21 The second phase: Building customer loyalty 21 References 23 Chapter 1: Introduction I Natural Story Cosmetics CO., LTD Nature Story Co., Ltd was formed in 2015, and after years of creation and development, the firm has carved out a niche in the Vietnamese cosmetic industry with a diverse range of high-quality goods that meet the demands of consumers Nature Story Co., Ltd is currently one of the leading partners, providing various lines of cosmetics throughout retail outlets and supermarket chains in Vietnam The firm specializes in the production of cosmetics, soaps, detergents, surface glossing, and sanitary preparations, as well as wholesale food, home products, and packaging services But most notable is the pure vegetarian cosmetic cocoon Cocoon has long been renowned as a pioneer in the "green cosmetics" line of Vietnamese beauty cosmetics Cocoon is quickly loved because it is a vegetarian product, and each product is designed with beautiful, well-groomed packaging and meaningful messages II Cocoon About Cocoon Pic Brand’s logo Cocoon means "the cradle"; the cradle is the "house" to accommodate and feed the small worm so that one day it will turn into a beautiful and magnificent butterfly In this sense, Cocoon is the "home" for caring for the skin and hair of the Vietnamese Cocoon was founded with a basic goal in mind: to make Vietnamese women beautiful using familiar materials Cocoon is the first vegan cosmetic brand in Vietnam to participate in two global programs, Cruelty Free International’s Leaping Bunny and PETA’s Beauty Without Bunnies, which so far have only approved more than 1,000 brands 3 Cocoon is always with the best professionals in the cosmetic business to provide vibrant colors to local cosmetics with lightweight, harmless products derived from plants grown in Vietnam All Cocoon products can withstand closed production procedures, which means no preservatives or toxic chemicals Low-cost goods that give safe and effective beauty solutions have a high yield when combined with current technology while still sticking to and developing the fabled beauty recipes in the ancient palace Cocoon's business mission and strategic vision 2.1 Cocoon’s business mission Cocoon was born to give you a healthy, youthful, vibrant skin and hair from simple and close ingredients that you eat every day Cocoon has always kept one mission in mind: applying the benefits of the foods around us combined with scientific understanding to create safe and effective cosmetic products for everyone 2.2 Cocoon’s stategic vision Developing the Cocoon cosmetic brand with the pride of being a 100% made in Vietnam cosmetic brand 2.3 Achievement Six years ago, Cocoon launched two products: squash extract and grapefruit peel extract, which specializes in treating acne and fading dark spots Since then, Cocoon has started to gain acceptance and attention from Vietnamese consumers Not only that, after years of product research and improvement, Cocoon has officially returned and conquered Vietnamese consumers in a new professional appearance with outstanding quality Cocoon created a lot of buzz and became one of the leading brands in the vegan cosmetics trend in Vietnam The company also received the "vegan" product certification from The Vegan Society (World Vegan Association) Pic Logo of PETA and Leaping Bunny on Cocoon products In September 2020, Cocoon was certified "not tested on animals and plants" by global animal welfare organization PETA In November 2020, Cocoon officially became the first Vietnamese brand approved in the Leaping Bunny program of Cruelty Free International - one of the most famous programs to ensure production without testing on animals gender In November 2021 Cocoon received an award in the category of "Inspiring Brands" at the Asia Pacific Enterprise Awards (APEA 2021) This is a title honoring successful businesses while creating good values for the community From the philosophy of veganism and sustainability, the Cocoon brand wants to convey to many people the need to raise their awareness about environmental and animal protection Chapter 2: Marketing environment analysis The marketing environment has a significant influence on company operations, but the size and direction of that impact varies depending on the business region and business product The following are the influences of the marketing environment on Cocoon I Macro environment Political and legal environment Nowadays, the beauty and cosmetics industry sector is one of the most interesting and sought-after businesses, with a very high growth tendency In order to provide advantageous business circumstances for enterprises and to control the business and manufacturing of cosmetic items, the government has issued several decrees, circulars, and official letters on the business industry There are regulatory procedures in place, but there are enterprises that take advantage of gaps in government administration, inspection, and oversight to conduct unlawful activity, leading users to lose faith Making it impossible for great, authentic, and legal businesses like Cocoon to thrive Economic environment Vietnam's GDP growth has been continuous for a long time (42 years), ranking first in the world (only lower than the 45-year record held by China) Vietnam's GDP growth accelerated during 2015-2019 and for the first time in many years surpassed the 7% mark in 2018 and 2019 Due to the Covid-19 pandemic appearing in 2020, outbreak in 2021, years This growth rate is as low as half of a few years ago, but it is still among the world's leading countries with positive growth rates 5 Especially in 2022, GDP growth is expected to increase by 6-6.5%, but it is estimated that the actual growth rate has been very high, surpassing 8% for the first time in decades Chart GDP per capita in USD at exchange rate And according to the statistics of the global market research company Mintel, the total value of the cosmetics market in Vietnam is about $2.63 billion and is expected to grow at an annual rate of 3.32% until 2027 Among them, skin care products are the most popular, with more than 60% of consumers using them daily Thus, with strong revenue and economic growth, the Vietnamese cosmetic market is considered a potential market and becomes an attractive destination for many foreign cosmetic brands Many leading enterprises in Europe and Asia such as the UK, France, Korea and Japan are actively seeking opportunities to penetrate and expand their business activities in Vietnam Domestic brands like Cocoon will also have the opportunity to expand their business Social and cultural environment From past to present, Vietnamese people rarely or often not have the exclusion of problems related to aesthetics, except for cases related to fine customs and traditions, and Vietnamese people often prefer products or recipes beauty comes from nature Grasping this concept of Vietnamese people past and present, Cocoon always respects and wishes to develop ingredients close to Vietnamese life into high-quality cosmetic products 6 Therefore, It always updates the most advanced ingredients and formula trends in the world to further perfect its products Demographic evironment Vietnam's population reached 100 million in April 2023, according to the General Statistics Office The population of Vietnam ranks 15th among the most populous countries in the world, 8th in Asia and 3rd in Southeast Asia (after Indonesia and the Philippines) Vietnam reached 100 million people in the middle of the "Golden Population Structure" period, that is, the period when the proportion of people of working age (from 15 to 64 years) in the total population was very high over 66% For many years, the female population in Vietnam has always been higher than the male population However, the gender disparity has gradually decreased over the years, from 4.8 % in 1979 to 0.4 % in 2019 In 2022, the male population is 49.61 million people, accounting for 49.9%; female population is 49.85 million people, accounting for 50.1% This is a great opportunity for Cocoon development, especially with the majority of young people and the rapidly increasing proportion of men, helps create favorable conditions for the cosmetic market in general and the male cosmetics market in particular to develop Technology environment In terms of technology, Vietnam has shown significant improvements in the recent years with mobile technology and internet penetration This has resulted in an increase in e-commerce and digital marketing, which can be utilized by cosmetic companies to reach more Vietnamese consumers Online shopping is a popular trend among urban-dwelling Vietnamese consumers Cosmetic companies can use digital marketing and social media platforms to reach out to consumers and create brand awareness However, Vietnam's cosmetic industry still lacks the advanced technological resources for research and product development A brand like Cocoon is still producing manually, has not really applied technology to production In conclusion, Vietnam's cosmetic industry is rapidly growing with many opportunities for both local and international companies to expand their market share With the increasing usage of digital and mobile technology, Cocoon must adapt to meet the growing demand for e-commerce and digital marketing It can play a significant role in the Viet Nam cosmetic industry with its large natural resource base and potential for cuttingedge technological development 7 Ecological environment Vietnam has a diverse ecological environment, from tropical rainforests, mountains and coastal areas With rich vegetation, the Vietnamese cosmetics industry can develop products that take advantage of natural ingredients However, the ecological environment is facing a number of challenges due to rapid industrialization and urbanization, the country is suffering from serious pollution and environmental degradation in recent years The cosmetics industry in Vietnam is relatively new and developing rapidly The industry is facing significant challenges related to environmental sustainability and biodiversity conservation The production and consumption of cosmetics can contribute to ecological degradation by releasing chemicals and pollutants into surrounding areas, affecting air and water quality, and causing environmental damage harmful to natural habitats and wildlife To ensure a sustainable and eco-friendly cosmetic industry, companies must focus on reducing the environmental impact of their manufacturing processes and products This can be achieved through the use of sustainable materials, waste reduction, responsible sourcing practices, and implementation of ecological design principles what Cocoon is trying to achieve In summary, the ecological environment in Vietnam poses significant challenges for the cosmetic industry So Cocoon or other comestic brands need to pay attention to environmental sustainability, implement eco-friendly measures and comply with regulations to ensure sustainable and responsible business operations II Micro environment Suppliers Cocoon always chooses the main source of ingredients that are purchased directly from local farms or farmers in Vietnam Cocoon only chooses provinces that are famous for their local specialties to ensure high-quality inputs and especially, never buys from small farms from elsewhere to gain more profit For example, Cocoon often buys coffee from Dak Lak province, turmeric from Hung Yen province, persimmon from Cao Bang province, etc Vietnam is a country with strong fruit trees, so the price of fruit in Vietnam is cheap Vietnam is also a country with a combination of subtropical and tropical climates that create favorable conditions for growing coffee, coffee prices are undervalued Therefore, when taking advantage of domestic raw materials, production costs will be reduced and product costs will be cheaper But Cocoon not only uses Vietnamese ingredients but also imports ingredients such as vitamins, active ingredients from France, Japan, Germany, etc In addition, Cocoon only cooperates with suppliers that ensure the schedule, as well as comply with the standards and approval of the two parties Many reputable suppliers have cooperated with Cocoon such as Kewpie, Ajinomoto, Nikkol Group Marketing intermediaries Cocoon does not have an official retail store, so the brand is accelerating the speed of covering the network of agents and distributors in 63 provinces and cities nationwide by offering high-quality and international standards Cocoon products are mainly sold through resellers on both online and offline platforms Agents have a great contribution in helping Cocoon reach more target customers Cocoon has appeared in many different retailers such as Guardian, Watsons, Skinfood World, Lixibox and Hasaki retail chains In addition, Cocoon also has official stores on some popular online shopping platforms such as Shopee, Lazada, Tiki, and Sendo According to the report "Vietnam Cosmetic Trends 2020", 73% have used e-commerce to buy cosmetics due to reasonable prices, many reviews and honest feedback became one of the most known channels for beauty columnists Competitors 3.1 Direct competitors 3.1.1 Big and famous brands Cocoon has direct rivals with well-known brands First, Korean cosmetics have long been popular with many Vietnamese women due to the range of brands, models, manufacturing ingredients, and beauty purposes available, such as Innisfree, OHUI, The Body Shop, The Face Shop, and so on Furthermore, multinational cosmetic brands from Europe, such as Olay, L'Oreal Paris, Maybelline, , have a strong position in the hearts of Vietnamese customers These are all high-end cosmetics firms with long histories and extensive distribution networks in Vietnam, as well as several own shop systems These companies have a large number of close, devoted clients that buy their items 3.1.2 Small cosmetic brands Small branded cosmetics are offered in the market or grocery store It is often trademarks of unknown origin or of poor quality Beating the psychology of cheap goods, these business facilities easily catch a certain number of customers, while individuals who not have much knowledge of beauty are prone to being seduced by fraudulent advertisements 3.1.3 Latent competitors Cosmetics or beauty products are becoming more and more familiar to many women and men, so by learning from online sources and through advice from the stores they buy, they can can sum up and start a cosmetics business easily Potential competitors can be mentioned here are the store's employees, when they receive a lot of training about the product Next, are the customers of the business, or those who are passionate about makeup cosmetics Both can become competitors in the future 3.1.4 Alternative products and services The Spa is also the development of beauty technology through the Institute of Aesthetics, which is an alternative service group worthy of attention to cosmetic brands However, along with having specialists, having employees care for their own, it is that the amount spent on the service is quite large, so this is not necessarily a becoming too big competitor with the business General Public 4.1 Financial publics Affecting the capital and financial resources of the enterprise including banks, securities investors, shareholders of the company 4.2 Media publics The media is both a strength and a weakness for Cocoon because there are KOLs who use the product as an image, but it is also a challenge for Cocoon because they will attract a lot of attention from the media with each action, and there is a risk that the product will be boycotted if the KOL representative has a scandal As a result, while introducing any product, Cocoon must also establish a flawless image of itself in the public eye 4.3 Government publics This public group oversees business activities such as advertising, production, industry competition rules to ensure that advertisements are true, quality production and fair competition in the industry 10 4.4 Citizen-action publics This is a group of companies that help businesses provide product information to consumers They offer a variety of services, such as content creation, data management, and digital marketing, to ensure that businesses communicate their product information effectively to their target audience This team understands the importance of accurate and compelling product information in influencing consumer purchasing decisions, and they strive to help businesses achieve success in this respect 4.5 Internal publics This public group is the workers, the staff working at the company and the production area, or the management agencies of the company including the business leadership, the management board III SWOT STRENGTHS WEAKNESS There are not many attractive promotions Deep brand value Organic ingredients are healthy for the yet skin Brand promotion is still at a normal level Beautiful product design Diversified product support services Packaging is not optimized Quality products, affordable prices The creation of product quality is still Wide distribution channels limited OPORTUNITIES THREATS The vegan cosmetic market is interested The situation of counterfeit goods mixed and is growing strongly Many competitors Golden population structure, the number High consumer expectations of young people makes up the majority Natural disasters and environmental The development of e-commerce pollution affect the production process Chapter 3: Cocoon’s STP Strategy analysis I Market segmentation 11 Geographic segmentation Vietnamese elite group Cocoon was developed specifically for Vietnamese people In order to increase their product distribution network and offer natural cosmetics to more customers, they are consequently actively searching for new partners and distributors in all cities and provinces across the nation Distributors will gain from preferential policies like significant discounts, assistance with sales and PR marketing, and easy product exchange Numerous sales offices for Cocoon can be found throughout the country in cities like Ho Chi Minh City, Ha Noi, Da Nang, Hue, Binh Duong, Can Tho, Dong Nai, Ba Ria, Vung Tau, and Thai Nguyen Additionally, more than 300 cosmetic distribution systems carry their products No matter where they live, it makes it simpler for people to locate and buy Cocoon products Through the creation of a very distinctive feature of Vietnam's nature through each product, Cocoon honors Vietnamese precious materials and serves as a reminder of people's ancestral homes The raw materials used to make the products are all-Vietnamese and were found directly in places like Thanh Hoa, Hoa Binh, Dak Lak, Tien Giang, etc Customers can therefore sense the Vietnamese soul in every product Cocoon has received a lot of praise from Vietnamese people, particularly young people, for understanding the skin issues that the Vietnamese population faces as well as the country's tropical monsoon climate They select Cocoon because it is ideal for their delicate skin and the weather Demographic segmentation 2.1 Age From 16 to 22 years old: This is the age when teenagers start to care about appearance There is a high demand for beauty products, but mainly teenage products, with cheap prices Due to still not having high financial ability, still dependent on parents Between 22 and 35 years old: At this age, everyone has a stable job and financial independence They have an increased need for beauty to meet job demands outside of society Have the best understanding of beauty and have the choice of filters with products of different brands 12 From the age of 35 and above: Work has progressed steadily, already has a certain position in work, and at the same time the majority are married The need for beauty persists but often invests money in the family rather than caring for yourself 2.2 Gender There are 48,327,923 women in Vietnam, accounting for 50.2% Cocoon's cosmetic products in particular and brands in the world in general are mainly focused on the female sex because women have quite high beauty needs to always have a fresh and radiant appearance However, the gender disparity has gradually decreased over the years, from 4.8 % in 1979 to 0.4 % in 2019 In 2022, the male population is 49.61 million people, accounting for 49.9% This is a great opportunity for Cocoon to develop the male cosmetics market 2.3 Occupation Students: this is a group of subjects who have a lot of chance to discover, love to explore, and use a lot of beauty products Businessmen, office workers: this is a group of people with stable income and high requirements for quality and origin of products Entrepreneurship: this is a group of individuals driven by innovation and constantly looking for new opportunities for growth They appreciate efficiency and productivity, making them interested in versatile cosmetic products that can save time Freelancers and creatives: this is a diverse group of professionals who prioritize flexibility and self-expression in their work They often have unique needs and preferences, which makes them willing to try new and unique products to fuel their creativity 2.4 Income Less than million: Average income usually falls into the group of students Therefore, this target group will buy beauty products but not pay too much for beauty expenses They are more likely to opt for affordable beauty brands or look for discounts and promotions However, it is important for them to find products that still meet their quality and effectiveness expectations within their budget constraints From to 10 million: With relatively good income, consumers tend to choose cosmetic brands with good quality but moderate prices 13 Over 10 million: High income level, they prioritize products of high-end brands, famous for products of outstanding quality These consumers are willing to invest more in beauty products and are likely to seek out luxury and premium brands They value exclusivity and prestige and are willing to pay a premium for products that offer exceptional results and unique experiences Spychographic segmentation In contrast to the younger generation, which is adaptable and open to new experiences, the older generation has a strong sense of loyalty to the goods or brands they are already familiar with Long-standing brands like Pond's, Hazeline, Nivea, etc are frequently preferred by the elderly Young people favor Cocoon, a new brand that was launched in 2013 Pic “Exchange old bottles, get new products” campaign Additionally, today's youth choose Cocoon for a variety of reasons as they become more environmentally conscious The first is that Cocoon's products are safe for skin and the environment, in addition to being highly effective Additionally, they developed an offline and online program called "Exchange old bottles, get new products." Bottles can be directly exchanged at designated "Green Points" or online by filling out a form and following the exchange instructions In addition, they avoided packaging with microplastics and created larger products to reduce the amount of plastic used When using Cocoon products, users not only feel and imagine the familiarity of their homeland through the experience of scent and texture right at the first use and take better care of and protect their skin and hair, but they also help to preserve the diversity of natural ecosystems 14 II Targetting Undifferentiated Marketing Cocoon presents the same message about the benefits of using vegan products to its whole audience In order to appeal to such a large group of people, this usually means the message is more general Cocoon is a B2C business; they are looking to target eco-friendly, vegan, beauty-loving, and health-conscious individuals 100% of their products are vegan and international qualified by Leaping Bunny (the Cruelty-Free program) By aligning with the values of eco-friendliness and cruelty-free practices, Cocoon aims to attract a diverse customer base that prioritizes ethical consumption With their Leaping Bunny certification, customers can trust that all of Cocoon's products meet rigorous standards of animal welfare This commitment to veganism and sustainability sets Cocoon apart in the beauty industry and resonates with health-conscious individuals seeking conscious alternatives Differentiated Marketing With an average temperature of over 30 degrees Celsius, Vietnam's climate is typically tropical monsoon Particularly in young people who are starting puberty, skin can be easily damaged and prone to acne As a result of realizing this, Cocoon uses gotu kola and squash as the main components of its products to treat acne In addition, they provide items for caring for your body, hair, and lips The brand also places a strong emphasis on online marketing to improve its likeability and visibility there Daily updates and information about promotions are posted on the Cocoon Vietnam fan page, where they also interact with the audience Because the brand concentrates on growing its brand through these platforms, customers frequently learn about Cocoon through social media (Facebook, Instagram, Youtube, etc.) Additionally, Cocoon sells products on e-commerce websites(Shopee, Lazada) and through its own website These are essential sales tools because they give detailed information about each kind of product for various uses at open prices Customers will be able to buy products easily and immediately as a result (check availability, reply to messages, etc.) The purchasing process will be more transparent and convenient as a result By placing a higher priority on differentiation marketing, Cocoon Vietnam can expand their online presence and better understand their customer base Niche Marketing 15 Small niche markets for eco-friendly products have been developed by environmentally conscious consumers An environmentally conscious company, Cocoon frequently develops various campaigns pertaining to the environment Their primary goal is to use social media and other content delivery platforms to communicate with people in meaningful ways To reduce the quantity of plastic bottles released into the environment, some meaningful campaigns, like "Because every day is Earth Day," trade in old bottles for new goods While using recyclable product bottles and eco-friendly, non-plasticized paper bags may result in higher production costs, it shows that Cocoon is serious about its investment By actively promoting sustainable practices and encouraging consumers to make small changes in their daily lives, Cocoon effectively raises awareness about environmental issues Through their campaigns, they aim to inspire individuals to take responsibility for the planet and make a positive impact on the environment III Positioning One of the first Vietnamese cosmetic companies to pledge not to conduct any animal testing is Cocoon Vietnam This is a significant benefit that will support Cocoon's position in consumers' hearts Using cosmetics that have not been subjected to animal testing is currently a widespread trend due to the fact that it not only gives consumers peace of mind regarding the product's ingredients but also promotes a humane lifestyle and prevents the harming of small, defenseless animals Pic Woodblock prints in Cocoon ingredients logo A modern woodblock print in Vietnam is like a bridge linking the past, present, and future The ingredient logos for ingredients like winter melon, coffee, sa-chi, and pomelo, in particular, cleverly incorporated Vietnamese woodblock print culture 16 Unfortunately, counterfeit cosmetics and home-made creams were mistaken for Vietnamese cosmetics, which can have harmful effects on the skin The Vietnamese cosmetics market, however, underwent a substantial transformation after Cocoon's release We can see at Cocoon the image of a cosmetics company that is eager to pioneer its brand mark and gain the respect of significant international organizations The Leaping Bunny program, run by Cruelty Free International, the industry standard for products free of animal testing, has given its seal of approval to all of Cocoon's cosmetics and personal care items Cocoon truly spreads the concept of beauty from inside to outside by raising humanitarian awareness and preserving the sustainability of natural ecosystems The best evidence that Vietnamese consumers not give up on Vietnamese goods is the confidence that Vietnamese consumers have in Cocoon in particular and Vietnamese cosmetic companies in general They're simply waiting for new innovations from indigenous manufacturers Chapter 4: Customer’s behaviors I Arcording to the benefits Group of products for lips Customers are always looking for lip balm products derived from nature They look for the softness in the texture of the balm, the high degree of moisturizing, especially to help the lips stay soft and not have a pungent smell With products that clean dead skin, it does not cause lip damage In addition, customers also prioritize lip balms that are made from organic ingredients and are free from harsh chemicals They seek products that offer long-lasting hydration and protection against environmental factors such as sun exposure Furthermore, customers expect the price of the lip balm to be reasonable and affordable without compromising its effectiveness and natural formulation Group of hair care products Customers need hair care products with good adhesion on hair, diverse scents, suitable for many people's preferences The ingredients in the products are extracted from nature, not contain silicones that clog pores and harmful chemicals for hair It helps to make hair strong, shiny and reduces breakage Additionally, the hair care products are formulated to cater to various hair types, including dry, oily, and damaged hair They 17 provide nourishment and hydration, promoting healthier and more manageable hair Moreover, the products undergo rigorous testing to ensure they are safe for use and not cause any adverse reactions on the scalp or skin Products are always reasonably priced Group of skin care products Skin care products need to help customers' skin always smooth and bright, reduce acne Contains benign natural ingredients suitable for all skin types and climates of Vietnam Especially with sensitive skin so that consumers always own naturally radiant skin Although facial products are often quite expensive, the price will reflect the quality and variety of uses that the product brings In addition, these skin care products are formulated to address specific skin concerns such as dryness, oiliness, and aging They are also dermatologist-tested and free from harsh chemicals, ensuring the safety and effectiveness of the products With regular use, customers can expect visible improvements in their skin's texture, tone, and overall appearance Group of body products Products need a variety of functions to suit the needs of Vietnamese people The group of body products includes items such as moisturizers, exfoliators, and body washes These products are specifically designed to cater to the specific skincare needs of Vietnamese people, taking into consideration factors like climate and lifestyle With their unique formulations, these products not only nourish and hydrate the skin but also enhance its natural radiance, making active girls feel confident and beautiful in their own skin The product highlights the healthy skin of active girls, creating an impressive look that stands out from the crowd II According to the reason to buy Bought for work reasons Today's young people, especially those who jobs, need to look beautiful Appearance plays a significant role in today's professional world, as it can greatly impact one's confidence and how they are perceived by others With the increasing emphasis on personal branding and networking, maintaining a polished and attractive appearance has become crucial for young professionals striving to succeed in their careers They makeup and hair regularly; they need to choose benign products to improve their appearance Using safe and non-toxic beauty products is not only important for enhancing one's appearance, but also for protecting their overall health and well-being 18 Buy because celebrities trust: Those who follow and love KOLs and celebrities, they will choose to buy the products these influencers promote and recommend Influencers have the power to sway consumer behavior through their endorsements, as their followers believe that the products they promote are of high quality and align with their own personal values Additionally, purchasing these endorsed products allows consumers to feel a sense of connection and similarity with their favorite celebrities, further motivating them to make the purchase Chapter 5: Marketing mix (4P) strategies and analysis I Product The first phase (from July 2023 to August 2023) The product strategy in the early stages (July 2023 - August 2023) is to maintain and develop better existing products In addition, clarifying each role of products to properly meet the skin condition and needs of customers This phase will involve conducting thorough market research and customer surveys to gain insights into the specific needs and preferences of our target audience By analyzing this data, we can identify areas for improvement and develop strategies to enhance the performance and effectiveness of our existing products Additionally, we will focus on refining our product messaging and communication to ensure that customers fully understand the benefits and value our products offer Winter melon extract Turmeric extract Rose extract 19 Type of Skin: Oily acne Type of Skin: Dull skin and skin many bruises Effect: Cleansing and Effect: Cleansing and fade blurring the spots dark spots Customers: Students, who Customer: Age from 25 are very active, during onwards, weak skin, many puberty, the skin poured a bruises, melasma, dull and lot of sweat and oil uneven skin tone Type of Skin: Dry skin, dehydrated skin Effect: Hydrate and restore skin Customers: From 16-30 years old, the skin is in a dry, not smooth condition, the skin lacks water, needs moisture The second phase( from August 2023 to October 2023) We will combine with the marketing department and R&D department to create a limited edition mid-autumn festival Start implementing packaging design and gift sets specifically for the Mid-Autumn Festival in mid-August The gift set will include a box designed like a lantern for the Mid-Autumn Festival Product packaging is decorated in the typical direction of the Mid-Autumn Festival; the main colors are red, blue, and yellow The lantern-shaped box will not only serve as a unique packaging design but also add a touch of traditional symbolism to the gift set Additionally, incorporating the traditional colors of red, blue, and yellow in the product packaging will further enhance the festive atmosphere and resonate with customers during the Mid-Autumn Festival The third phase( from October 2023 to December 2023) The packaging design and Christmas gift sets will start in mid- October, just like the second phase The gift set will include a box designed to resemble a reindeer carriage But to highlight the feature of vegan cosmetics, not tested on animals, reindeer will be replaced with a white rabbit- the symbol of Cruelty Free International Product packaging is decorated in the typical direction of Noel; the main colors are white, green, yellow, and glitter The use of white, green, yellow, and glitter in the product packaging adds a festive touch and captures the essence of the holiday season This unique design choice not only showcases the cruelty-free aspect of the cosmetics but also creates a visually appealing and eye-catching packaging that will surely attract customers looking for ethical and beautiful Christmas gifts II Price 20 Compared to competitors who are domestic cosmetics companies, Cocoon's products are priced higher, but compared to foreign cosmetic brands, they are lower And compared to products of domestic brands, Cocoon's products have better quality along with a thoughtful investment in image and packaging This is the reason why Cocoon's products are popular and appreciated But in order to compete, we will develop separate prices and discounts for each of the company's agents There will also be a discount on products and a coupon for the next purchase with the holiday gift sets Create combos so customers can buy products at a cheaper price Additionally, we will introduce a loyalty program where customers can earn points for every purchase, which can be redeemed for exclusive rewards and discounts Moreover, we will actively engage with our customers through social media platforms to provide personalized recommendations and updates on new product launches By continuously improving our offerings and customer experience, we aim to maintain our competitive edge in the market and further enhance customer satisfaction III Place Carrying out a market expansion campaign, opening more agents and distribution systems In each province, there are agents and distributors, but depending on the situation of each province, we choose to increase or decrease the appropriate quantity Promote expansion in big cities like Ho Chi Minh, Hanoi because of high consumption Continue to maintain relationships with old agents, support costs such as advertising, product samples on display; send staff to check goods, transport goods Organize sales competitions with attractive rewards to stimulate growth Currently, in addition to traditional channels, Cocoon also promotes business and distribution activities on e-commerce platforms In addition to the option to order directly on the company's website, Cocoon's products are also present on large-scale e-commerce sites such as Tiki, Lazada, and Shopee Incoming orders will be confirmed and processed by the staff in charge of e-commerce at the Marketing department But to expand we should think about exporting to Southeast Asian countries as well This would allow Cocoon to tap into new markets and reach a larger customer base By exploring opportunities in Southeast Asian countries, Cocoon can capitalize on the region's growing economy and increasing consumer demand for high-quality products Additionally, expanding into these markets would help diversify Cocoon's revenue streams and reduce dependence on any single market or channel for growth 21 IV Promotion The first phase: Approaching the customer Target: 50% of target consumers are aware of particular products that are appropriate for each skin condition The number of visitors to The Cocoon brand's main website increased by 30% 30% more new customers now know about the Cocoon brand Help new customers experience Cocoon products To help new customers experience Cocoon products, the brand has implemented various marketing strategies These strategies include offering free samples of their products, organizing skincare workshops and events, and collaborating with influencers in the beauty industry to spread awareness about their offerings By actively engaging with potential customers and providing them with opportunities to try out their products, The Cocoon brand aims to increase product awareness among target consumers and ultimately achieve their goal of having 50% of the target consumers aware of their specific products for each skin condition The second phase: Building customer loyalty At this stage is extremely important, this is considered the stage to make customers go from curious about the product to experiencing the product, increasing the number of customers of the previous campaign to return to buy the product The most important thing is to boost sales in the last month of the year and build customer loyalty We need to continue to maintain and promote interaction on social networking platforms: facebook, instagram, tiktok Collect customer comments on the company's website to improve service quality and customer care Post articles on skin and body care topics Run ads on google, face book, instagram and e-commerce sites: shopee, lazada and tiki Building the program "Accompanying customers", the program aims to attract a large number of young people to participate, increase the curiosity of potential customers, and increase brand awareness The program will be implemented with a simple participation method: Everyone who registers on the link provided by the marketing department will clearly state the skin condition they want to improve, stating the skincare routine The registration period is within ten days from the start date Five selected people will accompany Cocoon for two months They will be guided by Cocoon's facial care experts on how to take care of their skin, build a skin care routine and Cocoon will send you a set of products depending on your skin condition Every week Cocoon will update 22 their skin condition and expert video tutorials on facebook, instagram, tiktok and the main Cocoon website The purpose of this is to accompany all Cocoon customers Five participants must commit throughout the program to use only Cocoon products and to follow the expert's instructions to get the most out of the product After the end of the program, five participants will write a review on their personal page about their feelings and results when experiencing the product In addition, the product review article with the most interaction will be sent by Cocoon a 50% discount voucher for all products within six months 23 References [1] Minh Nguyệt (2023), Thị phần mỹ phẩm Việt trị giá tỷ USD, Tiêu- Dùng, VnEconomy, https://vneconomy.vn/thi-phan-my-pham-viet-tri-gia-tyusd.htm#:~:text=Theo%20C%C3%B4ng%20ty%20nghi%C3%AAn%20c%E1%BB%A9u, h%C3%A0ng%20n%C4%83m%20%C4%91%E1%BA%BFn%20n%C4%83m%202027 [2] Dương Ngọc (2023), Tăng trưởng GDP: Kết 2022, kỳ vọng 2023, Tiêu điểm, VnEconomy, https://vneconomy.vn/tang-truong-gdp-ket-qua-2022-ky-vong-2023.htm [3] Câu chuyện thương hiệu, The Cocoon original Việt Nam, https://cocoonvietnam.com/trang/cau-chuyen-thuong-hieu [4] ThS Bác sĩ Nguyễn Doãn Tú, Tổng Cục trưởng Tổng cục Dân số (2023), Việt Nam đạt mốc 100 triệu dân: Cơ hội thách thức, CỔNG THÔNG TIN ĐIỆN TỬ ĐẢNG BỘ TỈNH TUYÊN QUANG,https://tuyenquang.dcs.vn/DetailView/133298/25/Viet-Nam-dat-moc100-trieu-dan-Co-hoi-va-thach-thuc.html [5] Philip Kotler, Kevin Lane Keller (2016), Marketing Management (15th ed), Halow: Pearson Education, Inc