Introduction
Cocoon is a 100% pure cosmetic brand committed to skin safety, cruelty-free practices, and vegan principles, as recognized by The Vegan Society With a mission to provide customers with nourishing and effective natural cosmetics, Cocoon is set to expand its product line by launching vegan sheet masks This report focuses on the skincare and face mask industry in Vietnam, highlighting the brand's innovative approach and dedication to quality.
Mission: “Bringing you healthy, youthful and vibrant skin from simple and close ingredients that you eat every day.”
- Coverage at more than 300 current retail stores of Cocoon
- When mentioning Cocoon, customers will immediately think of the leading number of vegan cosmetics in Vietnam
- Increase 35% brand awareness among target customers
- Revenue is expected to reach 6 billion VND in its first year of launch
- Reduce advertising and communication costs each quarter while retaining potential customers.
Situation analysis
Market Summary
2.1.1 Analysis of vegan skincare industry in Vietnam
Vietnam skin care products market size reached $854.3 million in 2019 and is expected to reach $1,922.4 million by 2027, achieving a CAGR of 11.7% from 2021 to
2027 The skin care products market has an opportunity to increase revenue by
Between 2020 and 2027, the Vietnamese skincare market is projected to reach $1,154.25 million, driven by rising disposable income and a growing young population Notably, Generation Z, which constitutes 39.08% of the total population, represents the most promising customer segment for skincare products These dynamics have significantly boosted the demand for skincare among domestic consumers.
Porter’s five forces model reveals that the sheet masks industry in Vietnam is highly attractive due to its competitive landscape, which fosters rapid growth The analysis indicates that the industry is poised for continuous expansion, making it an appealing sector for investment and development.
The cosmetic and skincare industry in Vietnam is experiencing significant growth due to rising living standards and increased disposable income, leading to a shift in consumer preferences towards premium skincare products As demand for high-quality brands rises, mass skincare products are losing popularity To meet this evolving demand, skincare producers must enhance their production capabilities Key success factors for the sheet masks industry in Vietnam are detailed in Appendix 2.
Macro Environments
The external forces must be considered in Vietnam's sheet mask industry PESTLE analysis is applied to analyze six factors as follows:
The current stable political, social and security environment has created good conditions for business activities of pharmaceutical and cosmetic enterprises
In 2020, Vietnam's economy demonstrated resilience against the Covid-19 pandemic, largely due to proactive measures by the government and the collective efforts of the Prime Minister, citizens, and the business community However, by mid-2021, the Covid-19 situation worsened, resulting in challenges that impacted disposable income and led to a decline in the consumer price index This downturn poses significant challenges for the skincare industry, including Cocoon Vietnam, as reduced disposable income causes consumers to prioritize essential needs over beauty products.
Vietnamese consumers, particularly the younger 9x and 10x generations, often prefer foreign goods due to their perceived quality, design, and brand reputation In contrast, domestic products struggle to gain trust, as many young people associate Vietnamese cosmetics with poorly advertised, low-quality cream mixes and unknown origins This negative perception significantly impacts consumer confidence in local brands, including Cocoon, especially in the skincare segment.
Advanced and modern cosmetic production lines are essential for ensuring high-quality products in the cosmetic manufacturing industry Cocoon products are produced in a state-of-the-art, closed system that adheres to the cGMP standards set by the Ministry of Health of Vietnam, guaranteeing efficiency and excellence for consumers.
Vietnam's climate is hot and humid, with monsoon natural disasters frequently occurring This greatly affects the preservation and transportation of Cocoon's products
Air pollution in Vietnam poses significant health risks, particularly for those working outdoors or in front of computers for extended periods Prolonged exposure to ultraviolet rays and computer radiation can be detrimental to skin health Consequently, prioritizing skincare is essential to safeguard against these harmful effects.
Decree 93/2016/ND-CP outlines the regulations for cosmetic production, benefiting the pharmaceutical-cosmetic industry, particularly Cocoon By adhering to government standards, Cocoon enhances consumer trust in its products.
Decree 98/2020/ND-CP establishes penalties for administrative violations related to commercial activities, focusing on the production and sale of counterfeit and prohibited goods while safeguarding consumer interests This regulation is advantageous for consumers as it helps prevent counterfeiting and mitigates potential losses for businesses like Cocoon.
Competitors
Appendix 3 details a description of Cocoon's direct competitors Cocoon's indirect competitors are mask brands that, although not vegan, still meet the skincare needs of customers 4 brand well-known competitors in the Vietnamese market are Vedette, The Face Shop, Naruko, and Mediheal.
SWOT Analysis
SWOT analysis reveals the interplay of market strengths, company weaknesses, and the opportunities and threats posed by competitors in the global marketplace For a detailed examination of the product's SWOT, please refer to Appendix 4.
Table 1: SWOT analysis for Cocoon Vietnam
- Cocoon is also considerable competition compared to other celebrated and long - standing vegan cosmetic brands in Vietnam market
- Cocoon’s products gain cGMP standards of the Ministry of Health of Vietnam and certified “Animal test-free &
- Cocoon is the first Vietnamese cosmetic brand to be approved by Leaping Bunny
- Cruelty Free International's commitment to not testing on animals
- Dense distribution network with up to
300 sales points at Watson, Guardian,
- New brand, unfamiliar with some customer parts
- Have not advertised the product widely
Hasaki website, even e-commerce platforms, etc
- Cocoon was born in the era of increasingly advanced technology to ensure product safety and cost savings
- The 9x and 10x generations in Vietnam are increasingly leading a more active and modern lifestyle, easily accepting new things as well as new brands like Cocoon
- The environmental situation is increasingly alarming, so the eco- friendly lifestyle is on the throne
- Air pollution, ultraviolet rays and computer radiation motivate people to put more effort in taking care of their skin
- The negative impact of the Covid-
19 pandemic will make some people no longer interested in skinning care
- Because of incalculable appearance of unknown origin skin care products from Vietnamese businesses, Cocoon will be equated with those brands
- Vietnam's climate is hot and humid, and monsoon disasters often occur that significantly affects the preservation and transportation of Cocoon's products.
Segmentation & positioning strategy
Market segmentation
Market segmentation could be classified by four segmentation variables; geographic, demographic, psychographic and behavioural segmentations
Table 2: Market segmentation of Cocoon’s vegan sheet mask
Young, high school kids and university students
Single, in labour force or/and newlyweds
Mature women and men with family and children
Income Limited income High disposable income
Higher disposable income and wealthy
Lifestyle Active, Modern Prefer more radiant skin and
Prefer brands that provide expert
Concerns and consciousness social problems Eco- friendly lifestyle
Highly influenced by trends, family and friends’ opinion and media younger and healthier looks
Prefer products with natural ingredient knowledge of skincare, especially in terms of restorative properties Likely to stick with used products for a period of time
Skin beauty, relaxation, more confidence
Skin maitain, relaxation, more confidence
Skin improvement, anti aging- , more confidence
Loyalty Tend to switch to cheaper products
Loyal to one or several brands that served their satisfactory and used
Loyal to one specific brand that served their satisfactory and used for over a period of time
High Seeking for the products with low prices that suitable with their incomes
Medium Seeking for premium products than mass products
Low Seeking for an optimal and high-end product.
Target Market
Cocoon's differentiated marketing strategy focuses on the target segment of 17 to 24-year-old males and females with low to medium disposable income, emphasizing the appeal of vegan sheet masks Utilizing pure Vietnamese ingredients and a unique formula, Cocoon offers competitively priced products that resonate with socially and environmentally conscious consumers This demographic, often influenced by social media, is willing to invest in products that align with their values Consequently, Cocoon's targeted approach effectively addresses the preferences and spending habits of this audience, making it an attractive option in the market.
Positioning & Estimate market share
The Vietnamese market features various vegan cosmetics brands, with Klairs, Innisfree, and The Body Shop being the only ones offering vegan sheet masks This article will analyze the positioning of Cocoon’s vegan sheet mask within the skincare industry, utilizing data from a survey of 30 samples and a perceptual map for visualization, as illustrated in Figure 1.
Figure 1: Conceptual map for vegan sheet masks in Vietnam skincare industry
Cocoon will price its sheet masks competitively lower than other brands to appeal to our target segment, allowing customers to enjoy high-quality vegan masks at reasonable prices While other brands may offer quality products, they often come at a higher cost By positioning itself in the niche market of vegan skincare, Cocoon aims to gain a competitive advantage, emphasizing its commitment to natural ingredients that are free from animal products and cruelty-free testing.
"From familiar natural ingredients that are carefully cultivated and harvested by the hands of Vietnamese farmers, Cocoon creates and develops 100% vegan skin care products."
Marketing Mix Strategies
Product strategy
Cocoon's sheet masks are designed to enhance skin quality and beauty, focusing on customer needs through five identified products The core benefit lies in their use of 100% vegan, natural ingredients, ensuring a healthy skincare experience With the mission of delivering youthful and vibrant skin using simple, everyday ingredients, Cocoon emphasizes the importance of natural beauty in its offerings.
Using natural cellulose masks as raw masks: is a line of masks made from cellulose material With the orientation to create environmentally friendly products, the cellulose
Low brand awareness High brand awareness
Cocoon has launched a new line of vegan sheet masks made from high-quality, biodegradable materials that decompose when buried in soil These innovative masks are free from parabens, aligning with eco-friendly and health-conscious consumer preferences.
Our products are free from addictive corticosteroids, mineral oil, hydrogen peroxide, triclosan, phthalates, and luminescent substances Before reaching the market, each product undergoes a rigorous testing process lasting 12 to 24 months, which includes both in-vitro laboratory tests and in-vivo tests on volunteers.
Experience the unique design of our product, featuring a strong mask structure with three ultra-thin layers that fit snugly against your face This innovative design allows for a greater absorption of solution compared to standard sheet masks, ensuring enhanced effectiveness and hydration.
The difference from superb AFFECT: 80-100 nm diameter biocell fiber should be easy to apply to the skin without much manipulation, comfortable movement during use
The difference from SUPPLYING SUPPLY: natural bio-nano structure should be able to retain 10 times more nutrients than conventional fiber/sheet
Differences from the old products of the enterprise:
Cocoon is excited to introduce its latest product line: the "Sheet Mask - Cocoon," enhancing our offerings and enriching our brand's portfolio for customers.
Differentiate from other competitors' products:
Cocoon has captivated customers by embodying the essence of Vietnamese culture in its products The brand specializes in 100% vegan offerings that utilize natural ingredients sourced from Vietnam, including squash, Dak Lak coffee, Ben Tre coconut oil, and Cao Bang rose This commitment to local resources has established Cocoon as a uniquely "Vietnamese" brand, distinguishing it from competitors in the market.
Figure 2: Packing of Cocoon’s vegan sheet masks
The Cocoon sheet masks feature a minimalist outer packaging design that highlights pure Vietnamese ingredients like green squash, rose petals, and turmeric, allowing users to connect with the essence of Vietnam Prominently displayed in the top left corner is the Cocoon logo, enhancing the brand's identity.
Color: Gold color represents luxury, creativity and belief in a bright future of Vietnamese cosmetics
Labeling: provide complete information about ingredients, instructions for use, expiry date as well as the place of manufacture
Cocoon shop will have dedicated staff available to assist customers in understanding and using the products effectively Additionally, customers who make purchases exceeding 3,000,000 VND (approximately US$160.42) will be granted VIP status, entitling them to exclusive loyal service benefits.
Cocoon offers a loyalty card for customers to collect points annually, which can be redeemed for a complimentary facial treatment with select staff members With customer consent, Cocoon's team can obtain email addresses or mobile phone numbers to follow up on satisfaction after using their vegan sheet masks Additionally, loyal customers will receive special gifts on their birthdays, enhancing their overall experience with the brand.
Pricing strategies
Our objective is to dominate the vegan sheet masks market by maximizing our market share and establishing ourselves as the leader in product quality To achieve this, we are implementing a penetration pricing strategy, allowing us to offer our sheet masks at a lower price compared to competing products.
Klairs The Body Shop Innisfree
We will choose going-rate pricing to pricing method The firm bases its price largely on competitors’ prices (Table 1) So we decide to choose the price for a new product:
Cocoon's strategy focuses on discovering new customer segments and identifying potential future customers, aiming for higher sales volumes that can reduce unit costs and enhance long-term profits By setting lower prices, Cocoon can deter both existing and potential competitors Once the market becomes accustomed to the new product over time, Cocoon plans to gradually increase prices to strengthen its market position and profitability, while maintaining a mid-range price point that reinforces its brand image as a provider of high-quality vegan products.
Mixed product bundle pricing allows us to offer several products at a reduced price compared to purchasing them individually This strategy will be applied to our mixed combos, which include 5-product bundles and Tet combos, providing customers with greater value and encouraging bulk purchases.
Figure 3: Elastic demand of Cocoon’s vegan sheet masks
After the product launches, Cocoon uses this strategy to stimulate customers to buy the product For example, 10% off, buy one gets one free, gift cards; 5% paying by e-wallet.
Distribution strategy
Cocoon employs push strategies to enhance product visibility and facilitate easier access for customers to its offerings The brand focuses on selective distribution, promoting its vegan sheet masks through reputable stores and online retailers In the first year, Cocoon plans to expand its channel partnerships to ensure comprehensive market coverage across Vietnam.
4.3.1 Online shopping website & Cocoon Vietnam official website
Renowned cosmetics websites like Watson, Guardian, Beauty Garden, and Hasaki are ideal platforms for distributing free samples to customers This strategy not only enhances customer engagement but also fosters a market dynamic where supply significantly lags behind demand.
Leverage Cocoon's extensive distribution network, which includes over 300 cosmetic retail locations nationwide Form strategic partnerships with beauty salons, spas, and health centers to enhance visibility Selling face masks in these venues presents a valuable opportunity to broaden your sales channels effectively.
In light of the unpredictable Covid-19 pandemic, it is essential to feature sheet mask products on e-commerce platforms like Shopee, Lazada, Tiki, and Sendo to effectively target men and women aged 17 to 24.
Cocoon will leverage Integrated Marketing Communications (IMC) to enhance the visibility and market position of its sheet mask products by employing a diverse range of promotional strategies, aimed at maximizing product awareness.
Cocoon prioritizes advertising on social media platforms like Facebook, Instagram, and YouTube, recognizing that traditional advertising often leads to wasted expenditures due to the high costs of reaching consumers effectively By leveraging these modern channels, Cocoon aims to reduce costs while enhancing brand awareness and effectively communicating promotions and new product launches This strategy not only accelerates the introduction of new products to consumers but also expands market reach.
Modern advertising campaigns enable consumers to stay informed about this year's promotions from businesses Cocoon will primarily focus on significant holidays like Lunar New Year, National Day, and Labor Day, offering time-limited discounts while gathering customer feedback This approach aims to enhance product visibility, boost brand recognition, and continuously refine offerings to meet customer preferences.
Cocoon strategically selects and evaluates influencers and KOLs that align with the brand's future vision, creating a targeted list to receive Cocoon gifts and masks The brand ensures these influencers fully understand the unique features and benefits of Cocoon masks, leveraging their popularity to generate a viral effect and enhance customer engagement Additionally, Cocoon partners with e-commerce platforms like Shopee and Hasaki to execute promotional campaigns, thereby expanding the reach of Cocoon products across various sales channels.
Cocoon plans to sponsor gifts for participants at special events like webinars, aiming to engage individuals interested in skincare and aesthetic solutions through various events and seminars.
Utilize email, phone, direct messaging, and social media platforms to engage directly with potential customers Creating a list of prospects allows Cocoon to efficiently reach out and reduces costs associated with direct marketing.
Action plan
Figure 4: Timeline summarizing marketing activities 2022
Activity Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec
Run post ads on social networks Product launch Promotions Run ads on e- commerce platforms Give away KOLs, Micro- influencers
"Review Cocoon's sheet masks - draw to receive attractive gifts"
Target sales at each branch Sponsor a gift for an event
FIRST QUARTER: Apply attractive promotions aiming to appear more on e- commerce platforms, social networks to increase awareness for Cocoon's new sheet mask products and spread all over the country
In January 2022, we initiated a communication campaign aimed at introducing our products to customers by highlighting their uses, features, and advantages through modern channels like Facebook, Instagram, and YouTube This campaign officially launched on January 6, 2022, and included high-priced advertising targeting potential customers' newsfeeds Additionally, we offered promotions such as "Buy 3 masks, get 1 free" and discounts on bills over 200,000.
1 mask immediately" Besides, close to Tet holiday, there will be a promotion for mixed combos such as buying 5 paper masks for 135,000 VND (save 20,000 VND)
In February, we launched promotions across over 300 stores featuring exclusive Cocoon products on reputable e-commerce platforms such as Lazada, Shopee, Hasaki, and Beauty Garden Our strategy aims to elevate Cocoon sheet mask products to the forefront of these websites and their fan pages To attract customers, we implemented hourly flash sales on sheet masks and offered free shipping for orders exceeding five masks.
In March, we are excited to launch a giveaway program featuring a delightful combo of Dak Lak coffee scrub and a set of five sheet masks This giveaway will run for one week, and to participate, simply like Cocoon's fan page, tag three friends, and comment with your three lucky numbers Don't miss your chance to win this fantastic prize!
SECOND QUARTER: Building customer's trust in Cocoon brand and increase brand awareness of new products up to 35% among target customers
In April, we will execute a strategy to engage three key opinion leaders (KOLs) in the beauty industry, specifically Trinh Pham and Goc Cua The company will provide these KOLs with three mask lines, complete with comprehensive details about our new products They will review and promote these products on their personal social media accounts, including Facebook, Instagram, and YouTube.
Quach Anh, a renowned makeup artist, is featured prominently on Cocoon's fanpage, which showcases posts about Cocoon sheet masks and includes review videos from key opinion leaders (KOLs) The strategy involves utilizing Facebook and Instagram for targeted advertising, focusing on efficiency to reduce both time and costs compared to the first quarter, continuing through the end of the third quarter Additionally, advertising efforts will persist on various e-commerce platforms to enhance product visibility and sales.
In May, we will leverage the power of micro-influencers to enhance the authenticity of Cocoon's new sheet mask product By collaborating with 20 influencers who have low to medium popularity, we aim to build trust among their followers, as these influencers often share personal experiences with self-purchased products This strategy will be complemented by ongoing advertisements on e-commerce platforms to maximize reach and engagement.
In June, Cocoon is launching the "Review Cocoon Sheet Masks - Draw to Receive Attractive Gifts" program in celebration of Environment Day Customers are encouraged to share their experiences with Cocoon sheet masks by posting on social media, highlighting the benefits of the product Participants must include the hashtags #Cocoon, #MyPhamThuanChay, and #vegansheetmasks, and tag Cocoon's official Facebook fan page Each account is limited to one review, and participants will be entered into a draw to win exciting rewards: a 10% voucher for purchases over 100,000 VND, a free coffee balm for orders over 200,000 VND, and a complimentary mask for purchases exceeding 300,000 VND Additionally, Cocoon will continue its advertising efforts on e-commerce platforms.
THIRD QUARTER: Reduce advertising and communication costs from the third quarter, increase product sales
In July, we implemented a strategic plan aimed at branches offering exclusive Cocoon products, with a goal of selling over 200 masks within a month To enhance sales efforts and accelerate product turnover, stores that achieve this target will benefit from competitive pricing offered by Cocoon, featuring discounts greater than usual The pricing structure is designed to reward higher import quantities, ensuring that the more a branch imports, the lower the import price will be.
In September, we will sponsor events focused on environmental protection, targeting an audience of 100 participants to enhance public awareness At the conclusion of these events, Cocoon will distribute masks to all attendees as a token of appreciation.
In the fourth quarter, we aim to expedite our sales process, projecting total revenue to exceed 6 billion and anticipating the sale of over 200,000 products throughout the past year.
December : The program "Giving gifts at the end of the year" on Christmas day
Applied on e-commerce sites on 4 days, get 1 free environmental protection tote bag for the purchase of 7 sheet masks.
Financials
Cocoon's vegan sheet masks are projected to generate total first-year sales revenue of 6.5 billion VND, with profitability expected once sales exceed 200,000 units The break-even analysis indicates a per-unit retailer revenue of 31,000 VND, a variable cost of 15,000 VND per unit, and fixed costs estimated at 3.2 billion VND for the first year.
Controls
To evaluate the effectiveness of our marketing strategies, we will conduct market research and gather consumer feedback through surveys and personal interviews two months post-launch This approach aims to assess customer satisfaction with our products, identify areas for improvement, and measure brand awareness Additionally, we will establish an internal system to monitor sales fluctuations and analyze the relationship between pricing, distribution, promotion, and sales performance Our team will collect relevant data, reporting findings weekly to headquarters By comparing outcomes before and after implementing strategies, we will determine the most effective distribution channels, assess profit margins and market share, and identify optimal investment levels for maximum performance.
Conclusion
Our marketing plan aims to launch Cocoon's vegan sheet mask in Vietnam's skincare market, targeting males and females aged 17 to 24 To achieve our marketing and financial objectives, we will implement various strategies, including social media and cosmetic website advertisements The first two months will focus on generating buzz through effective communication We will prioritize e-commerce platforms and retail cosmetic stores, offering loyal customers special discounts and services, along with promotions during Vietnam's festivals and significant dates We will closely monitor product quality and customer satisfaction to swiftly address any issues, tracking monthly sales and expenses for early warning signals of deviations from our plan This proactive approach aims to enhance profit margins and ensure the success of our marketing strategy.
ATPMedia (2021, June 15) Mỹ phẩm thuần chay là xu hướng mới của giới trẻ 2021 List.vn https://list.vn/my-pham-thuan-chay-la-xu-huong-moi-cua-gioi-tre-2021/
CHĂM SÓC DA (n.d.) Cocoon Vietnam Retrieved June 19, 2021, from https://cocoonvietnam.com/cham-soc-da
Thị trường chăm sóc da đang đứng trước cơ hội phục hồi mạnh mẽ sau đại dịch Covid-19, khi người tiêu dùng ngày càng chú trọng đến sức khỏe và vẻ đẹp của làn da Nhu cầu sử dụng sản phẩm chăm sóc da tự nhiên và an toàn gia tăng, đồng thời xu hướng mua sắm trực tuyến cũng trở nên phổ biến hơn Các thương hiệu cần nắm bắt tâm lý người tiêu dùng, tập trung vào việc cung cấp sản phẩm chất lượng và dịch vụ tốt để thu hút khách hàng Việc áp dụng các chiến lược marketing số và tối ưu hóa SEO sẽ giúp các doanh nghiệp tiếp cận hiệu quả hơn với thị trường tiềm năng này.
Cocoon offers vegan cosmetics that celebrate and enhance the natural beauty of Vietnamese women The brand emphasizes the use of cruelty-free ingredients, aligning with a commitment to sustainability and ethical practices By focusing on local culture and traditions, Cocoon creates products that resonate with the essence of Vietnamese beauty while promoting a healthier lifestyle.
Cocoon là thương hiệu mỹ phẩm thuần chay nổi bật “made in Vietnam”, thể hiện sự phát triển mạnh mẽ và lột xác ngoạn mục trong ngành công nghiệp làm đẹp Với cam kết về tính bền vững và an toàn cho sức khỏe, Cocoon đã chinh phục lòng tin của người tiêu dùng Việt Nam Sản phẩm của Cocoon không chỉ đáp ứng nhu cầu làm đẹp mà còn góp phần bảo vệ môi trường, khẳng định vị thế của thương hiệu Việt trên thị trường mỹ phẩm.
Công ty TNHH Truyền Thông và Giáo Dục Thời Trang Style Republik (2020, August 24)
Trong nửa đầu năm 2020, xu hướng tiêu dùng mỹ phẩm tại Việt Nam đã có những thay đổi đáng kể, với sự gia tăng đáng chú ý trong việc tìm kiếm sản phẩm tự nhiên và hữu cơ Người tiêu dùng ngày càng quan tâm đến thành phần sản phẩm, ưu tiên lựa chọn những thương hiệu có cam kết về chất lượng và an toàn Đồng thời, việc mua sắm trực tuyến cũng trở nên phổ biến hơn, thúc đẩy sự phát triển của các nền tảng thương mại điện tử Ngoài ra, xu hướng chăm sóc sắc đẹp tại nhà gia tăng, với nhiều người tìm kiếm các sản phẩm hỗ trợ làm đẹp và chăm sóc da Các thương hiệu mỹ phẩm cần nắm bắt những thay đổi này để đáp ứng nhu cầu ngày càng cao của người tiêu dùng.
Xu hướng tiêu dùng sản phẩm chăm sóc da nửa đầu năm 2020 cho thấy sự gia tăng mạnh mẽ trong nhu cầu về các sản phẩm tự nhiên và hữu cơ Người tiêu dùng ngày càng chú trọng đến thành phần sản phẩm, ưu tiên lựa chọn những sản phẩm an toàn cho sức khỏe và môi trường Bên cạnh đó, việc chăm sóc da tại nhà trở thành một xu hướng phổ biến, với nhiều người tìm kiếm giải pháp hiệu quả để duy trì làn da khỏe mạnh Công nghệ và đổi mới trong sản phẩm cũng đóng vai trò quan trọng, với sự xuất hiện của các sản phẩm thông minh và tiện lợi.
Hiện tượng mỹ phẩm thuần chay Cocoon tại Việt Nam (2020, July 30) Brands Vietnam
Retrieved July 3, 2021, from https://www.brandsvietnam.com/20676-Hien-tuong-my- pham-thuan-chay-Cocoon-tai-Viet-
Nam?fbclid=IwAR1XbTFnMZ9fI1kRMSYo41cOxxJEXtmbMTdLfaZ5E-znu- HptdUbOKakQDQ
Khoa V C (2020, January 13) 9 sự thật bạn nên biết về mặt nạ giấy Hello Bacsi https://hellobacsi.com/da-lieu/cham-soc-da/9-su-that-nen-biet-ve-mat-na-giay/
Mỹ phẩm Vegan (n.d.) HnB Skincare Retrieved June 19, 2021, from https://hnbskincare.com.vn/collections/my-pham-vegan
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Người Việt ngày càng sẵn sàng chi tiêu cho sản phẩm có thành phần tự nhiên, cho thấy sự chuyển biến trong xu hướng tiêu dùng Nhu cầu đối với các sản phẩm này tăng cao, đặc biệt trong bối cảnh người tiêu dùng ngày càng quan tâm đến sức khỏe và an toàn thực phẩm Việc lựa chọn sản phẩm tự nhiên không chỉ phản ánh lối sống lành mạnh mà còn thể hiện ý thức bảo vệ môi trường.
Nghị định 98/2020/NĐ-CP quy định về xử phạt vi phạm hành chính (2020, June 28) Thu
On July 3, 2021, the Vietnamese government issued Decree No 98/2020/ND-CP, which outlines penalties for administrative violations in the production and trading of counterfeit goods This regulation aims to enhance market integrity and protect consumers by imposing strict sanctions on businesses engaged in deceptive practices It emphasizes the importance of compliance with legal standards in commercial activities to foster a fair trading environment For more details, visit the official legal document at the provided link.
Nghị định 93/2016/NĐ-CP quy định các điều kiện cần thiết để sản xuất mỹ phẩm tại Việt Nam Nghị định này nhằm đảm bảo chất lượng và an toàn cho sản phẩm mỹ phẩm, bảo vệ sức khỏe người tiêu dùng Các doanh nghiệp sản xuất mỹ phẩm phải tuân thủ nghiêm ngặt các quy định về nguyên liệu, quy trình sản xuất và ghi nhãn sản phẩm Thông tin chi tiết về nghị định có thể được tìm thấy tại Thu Vien Phap Luat.
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Thị trường chăm sóc da Việt Nam trước và trong giai đoạn COVID-19 (2021, June 11)
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Porter’s five forces c
Vietnam boasts the largest retail market size in the ASEAN region, reflecting a robust economy and increasing consumer demand for a diverse range of products.
- The community is harsher and harsher in making purchasing decisions, condemning products of unsafe origin, environmental pollution, testing on animals
- It is not too difficult for new businesses to access necessary inputs in the production
- Increasing competition, availability and convenience of products have given buyers in this industry high power
- The variety of skin care products from home and abroad
- Customers are in a position to influence the price of the product which makes it difficult to maintain the long-term profitability of the business
- More and more distributors online
- There are no major differences in industry inputs
- Large supply in the industry
- The presence of products that substitute inputs and the impact on costs is not high
- The demand for the number of facial services at spas and beauty salons is increasing, but the price is high
- The level of competition among competitors in the industry is high
Key success factors d
The key success factors (KSF) for the sheet masks industry in Vietnam involve the following aspects
Positioning and relationship with the consumer
Producers of sheet masks must consistently deliver high-quality products and services to foster strong customer relationships and enhance consumer preferences In Vietnam, consumers prioritize quality and seek products that meet their specific needs, making it essential for brands to establish a solid position in the minds of their target audience.
Sheet mask brands primarily distribute their products through three key channels: luxury department stores, spas, and online platforms Notably, Shopee and Lazada stand out as leading websites offering a wide range of skincare and cosmetic products.
Advertising plays a crucial role in key success factors (KSF) Utilizing billboards, such as those in magazines, serves as an effective communication tool Additionally, advertising through broadcasting media, television, radio, and outdoor events proves to be highly beneficial for reaching a wider audience.
The most popular social media such as Facebook and Instagram are used for sharing information Most brands use this distribution channel to communicate with their customers
Customer care is crucial in a consumer-focused marketing strategy, especially in the highly competitive skincare and beauty industry Businesses must recognize the significant influence of customers in generating value and fostering sustainable growth for their brands.
Competitors analysis in Vietnam vegan sheet masks e
Klairs The Body Shop Innisfree
- The main ingredient is extracted from natural ingredients with cleansing and antibacterial factors to help eliminate acne-causing bacteria
- Developing products according to the trend of sustainability, environmental protection
- Developing products according to the trend of sustainability, environmental protection
- Diverse products, solving many skin care problems for customers
- Empowering women, more than 72% of their employees and franchisees are women
- The price is a bit high compared to students
- Supply of raw materials - unstable materials
- New law banning animal tested products could increase competition by marketing this policy
- High selling price due to high production cost.
SWOT for Cocoon’s vegan sheet masks f
Cocoon's sheet masks leverage natural materials and advanced technology, drawing on the successful features of their previously released jar masks This innovative approach allows them to offer competitive pricing, making their products more affordable than other brands As a result, Cocoon is poised for rapid revenue and profit growth in a short period.
- Serve many different audiences: both men and women can use Simultaneously, types of sheet mask meet different needs for each individual skin type
- Gain cGMP standards of the Ministry of Health of Vietnam and certified “Animal test-free & Vegan” by PETA
- Sheet masks with convenient usage and faster and more timely results than jars masks
- Company is not as experienced as competitors who have been releasing sheet masks for a long time
- Lack of brand awareness - No reputation in the sheet masks industry like other brands (Klairs, Innisfree, The Body Shop)
- Air pollution, motivate people to put more effort in taking care of their skin by cleansing sheet masks
- Busy social life makes people need a quick skin care product like sheet masks
- The environmental situation is increasingly alarming that motive people use vegan sheet masks
The Covid-19 pandemic has significantly impacted input prices, creating challenges for transportation and product preservation Additionally, the decline in disposable income among consumers has resulted in a diminished interest in skincare needs.
Five products level g
Figure 5: Image of Tet combo packaging for Cocoon s vegan sheet masks ’
Financial paper h
Estimated per-unit variable cost
Production line 750,000,000 Salaries 1,050,000,000 Depreciation 400,000,000 Research 300,000,000 Packaging design 25,000,000 Other fixed costs 675,000,000
The break-even analysis indicates that 6.2 billion VND will be required in sales revenue to reach the break-even point:
Average per-unit variable cost 15,000
Ex pense budget i Appendix 8: Survey questions and results j Appendix 9 : Member’s group work assessment n Appendix 10: Plagiarism Check Report o
Figure 6 Budget for promotion activities of the first year
Cocoon sheet masks - draw to receive attractive gifts”
Target to sell 200 units/mask at each branch
"Year-end gift giving" program on e- commerce
Appendix 8: Survey questions and results
Appendix 9: Member’s group work assessment
MEETING MINUTES OF ASSESSING THE COMPLETION OF WORK
4 Members absent/Reason: No member is absent
5 Chairperson of the meeting (Group leader): Nguyen Thi Lan Nhi
6 Secretary of the meeting: Do Ngoc Thanh Ngan
7 The evaluation results are agreed and summarized as follows:
STT Name Student code The degree of completion of work (%)
Meeting ends at 10:00 a.m on the same day
Do Ngoc Thanh Ngan Nguyen Thi Lan Nhi