MARKETING PLAN MARKETING PLAN FOR THE COCOON VIETNAM’S NEW PRODUCT

THE MINISTRY OF FINANCE UNIVERSITY OF FINANCE – MARKETING - - MARKETING PLAN MARKETING PLAN FOR THE COCOON VIETNAM’S NEW PRODUCT MAJOR: MARKETING MANAGEMENT Group 8: Le Vo Bao Ngan Tran Tu Quyen Bui Hoang Minh Thu Le Hoang Thuy Tien Pham Ngoc Tinh Lecturers: Dang Huynh Phuong Ho Chi Minh City - 2021 TABLE OF CONTENT EXECUTIVE SUMMARY SITUATION ANALYSIS 2.1 Market Summary .2 2.1.1 Market Demographics 2.1.2 Market Needs 2.1.3 Market Trends 2.1.4 Market Growth 2.2 SWOT Analysis 2.2.1 Strengths 2.2.2 Weaknesses 2.2.3 Opportunities 2.2.4 Threats .3 2.3 Competition 2.4 Product Offering 2.5 Key to success 2.6 Critical Issues MARKETING STRATEGY 3.1 Mission 3.2 Market Objectives 3.3 Financial Objectives 3.4 Target Markets 3.5 Positioning 3.6 Strategies 3.6.1 Product Strategy .6 3.6.2 Pricing strategies .7 3.6.3 Distribution Strategy 3.6.4 Promotion Strategy 3.6.5 Customer Service 3.7 Marketing Mix FINANCIALS 10 4.1 Break-Even Analysis 11 4.2 Sales Forecast 11 4.3 Expense Forecast (Unit : 1.000.000 VND) 11 CONTROLS 12 5.1 Implementation 12 5.2 Marketing Organization 12 5.3 Contingency Planning 12 References 13 Appendix 13 MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT EXECUTIVE SUMMARY Cocoon is a vegan cosmetics company that was founded in 2013 Cocoon is noted for being one of the first Vietnamese firms to follow the world's most popular vegan cosmetic trend in recent years Cocoon is a Vietnamese brand for Vietnamese people:   Cocoon has won Vietnamese clients for many years by releasing goods that include highly benign and delicate nutrients from Vietnamese nature that are ideal for the sensitive skin of Vietnamese people  Cocoon pays close attention to native ingredients found in Vietnam's rich natural environment Cocoon clearly affirms its position in the hearts of consumers through commitments   Cocoon buys all-natural components directly from local farmers and combines them with imported active substances, vitamins, and backdrop systems to create 100 percent clear origin ingredients Cocoon develops 100% vegan cosmetics by employing elements produced from plants of clear origin rather than materials derived from animals  "Green commitment" is always present in their designs, with all packaging made of environmentally friendly paper, no plastic lamination, and recyclable bottles carrying contents It also inspires and distributes good messages about the environment through a variety of relevant events Cocoon's 30-day average income in Vietnam was VND 1.02 billion, greater than 99.73 percent of all shops on the e-commerce site Shopee Furthermore, compared to other companies, the number of purchases, average monthly views, and customer comments are all 90 percent or higher Cocoon is doing an excellent job of disseminating human values and instilling the habit of using vegan cosmetics in people by being available at more than 300 retail locations across the country and covering all Vietnam beauty forums We will begin a project to market a new Cocoon product in the hair care area using this study report Hair Gummies will be the name of the new product With the goal of maintaining Cocoon's four commitments while also assisting Cocoon in confirming its position in comparison to competitors and increasing brand awareness among customers It is especially beneficial to Cocoon's market share in the Vietnamese market  SITUATION ANALYSIS Cocoon - a new beauty for the Vietnamese cosmetics industry The birth of Cocoon is like a wind for the cosmetic industry where the values and beliefs of Vietnamese people are gradually recovered In the overall picture of Vietnamese cosmetics, Cocoon is known as a brand that positively inspires users, when they always choose a development path based on the sustainability of the ecosystem, respect all species and associated with environmental protection activities MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT 2.1 Market Summary 2.1.1 Market Demographics  Geographics  People live in urban and big cities  People live in dry-weather areas  Besides, Cocoon also develops a contribution channel in rural and suburban areas because Cocoon offers a reasonable price to suit almost everyone's budget  Demographics     Although Cocoon uses gender segmentation that the consumer market is mainly women, Cocoon’s products are also proper for men who want to take care of their hair or are subjected to hair loss Location: The majority live in cities, urban and the rest live in rural, suburban as well as dry-weather areas Occupation: Student, housewife, officer, singer, actor, model Age : 16 - 35 , 35-55, 55+ Income: Medium to high income  Behavior Factors  Prefer taking care of themselves   Care about appearance, especially hair  People who frequently change their hairstyle, dye their hair  People have weak health conditions and enter middle age 2.1.2 Market Needs The demand for gummies hair is increasing because people are often exposed to chemicals, dust, or psychological problems, which makes their hair weak and easy to fall out Besides, gummies hair products of foreign brands on the Vietnamese market have high prices and are not suitable for most people's budgets Grasping the unresolved market demand: ● Product: Products are made from natural ingredients, vegan with clear origin, and good for health The raw materials undergo the production process to meet the CGMP criteria of the Ministry of Health ● Gummies hair is set at a suitable price that is cheaper than similar products on the market ● Customer service: Cocoon provides a website and hotline to answer questions for customers In addition, Cocoon is committed to protecting customer information to help customers always have the best shopping experience 2.1.3 Market Trends Nowadays, along with the global heat of environmental protection, people are more and more interested in environmentally friendly products The majority of individual also support Green Lifestyle, so they are always looking for vegan and non-animal testing products to MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT express their lifestyle Besides, hair dyeing and bleaching which harmful to hair are extremely popular as well But existing products on the market cannot meet all of the above needs Understanding the unresolved market needs, Cocoon has launched a line of hair gummies to satisfy the above needs 2.1.4 Market Growth 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 $1,154.25 million between 2020 and 2027 (Kale & Deshmukh, 2020) Rising disposable income and growing young population are the key factors driving the product market Vietnamese skincare products grow In which, the most potential customer segment in the future is Generation Z, accounting for 39.08% of the total population Overall, these factors have increased the demand for skincare products by domestic consumer 2.2 SWOT Analysis 2.2.1 Strengths - Healthy vegan products, all-natural ingredients are purchased directly from local farmers - Product packaging is beautiful and attractive, combined with humane and close messages - Competitive price, suitable to the income of Vietnamese people - Clear and specific strategic goals - The process is closed and modern, ensuring the quality of each product 2.2.2 Weaknesses - New brand in the market, not yet received much trust - Mainly doing business in the domestic market, not really having a foothold in the foreign market - Hair gummies are not yet popular in the Vietnamese market 2.2.3 Opportunities - The income, as well as the living standard of Vietnamese consumers, are increasing day by day, they tend to focus on supplements - Young people gradually tend to use high-quality domestic goods instead of higherpriced imported goods In addition, foreign products will not give optimal results due to physical differences - As a new entrant in the functional food market, we have many opportunities to learn the experiences that other brands have gone through to create the most complete products 2.2.4 Threats MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT - The competition is fierce and strong with many big foreign brands in the market such as Nature's Bounty (USA), Ineldea Laboratories (France), Flintstones (Germany), Oki Pharmaceutical (Japan), - A large part of consumers only prefers to use foreign goods 2.3 Competition Cocoon is forming its own market for vegan products Previously, there were several foreign brands on the market, but hair gummies were not really popular with Vietnamese consumers Besides, foreign products into Vietnam are imported via hand-carried, sold through e-commerce channels, drugstores, etc., so the price is very high and the buying process is inconvenient Cocoon will be the pioneer brand of Vietnam to produce vegan hair gummies All ingredients in the product are completely natural and purchased directly from local farmers, so it is highly competitive from quality to price 2.4 Product Offering Cocoon Hair Gummies currently offers product flavors: The first flavor is Strawberry Flavored Hair Gummies Strawberries will provide you with vitamin C that helps reduce the formation of free radicals that are harmful to hair growth In addition, a deficiency of vitamin C will affect hair growth, causing dry and split ends because this is a vitamin with antioxidant effects The second flavor is Mango Flavored Hair Gummies Mangoes contain a lot of vitamin A, which works to help hair grow strong, and creates an oil layer on the scalp, keeping hair from drying out and breaking The third flavor, Grapefruit Flavored Hair Gummies, synthesizes both vitamin A and C It helps strengthen the connective tissue in the hair follicles, prevents inflammation and soothes the scalp, and avoiding dandruff We are also improving and releasing a 4th flavor which is mix-flavor, which will be mix many flavors together in a jar of gummies 2.5 Key to success ● Products are in line with market taste and also meet market demand ● The packaging is always renewed beautifully and neatly Not only that, it is combined with humane and close messages ● The quality and practical effectiveness of the products ● Cocoon conquers customers with beautiful stories and strict commitments to the safety of product ingredients 2.6 Critical Issues ● Cocoon builds its brand as a leading vegan cosmetics brand in Vietnam ● Pursue controlled growth that dictates that payroll expenses will never exceed the revenue base This will help protect against recessions MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT ● Constantly monitor customer satisfaction, ensuring that the growth strategy will never compromise service and satisfaction levels ● Selecting the appropriate market segment to focus on the needs, wants, and desires of a particular group and develop steps to attract those buyers as well as make the marketing effort worthwhile MARKETING STRATEGY 3.1 Mission Bringing you the always healthy, youthful, and full of life skin and hair from simple and close ingredients that you eat every day 3.2 Market Objectives After discussing our goals for the hair gummies we have marketing goals to achieve by December 2022: Firstly, increasing Product awareness: Increase 30% of impressions on social networking sites for the target audience (Female, aged 15-30) by the end of the fourth quarter To achieve 40% of the brand product awareness in the first year Secondly, Acquiring New Customers: Establish a partnership with industry-experienced Influencers early in 1st quarter and develop discount codes for their followers Thirdly Increasing market share: Gain 10% market share within year since product launch Increase sales to existing customers, re-pursue lost customers Diversify many different marketing channels to reach target customers Research penetration into the e-commerce market Fourthly, Become the top-of-mind hair care product of the target audience Expand marketing channels, increase the frequency of appearance for target customers such as through TVC advertising, e-commerce platforms, social networking sites Organize marketing at the point of sale 3.3 Financial Objectives Increase Company Profits: 10% Off Paid Social Ads and Boost Search Engine Efforts With Weekly Blog Posts Increase sales: increase conversion rate by 3% by increasing website traffic with Blog Posts per week at the beginning of the fourth quarter 3.4 Target Markets Our main target customers for hair gummies are women between the ages of 20 and 35, graduating students, working, financially independent people with average incomes and use skincare products They are in a period of paying more attention to appearance The second target segment are female people aged 15-18, mainly students, who are in the development stage, dependent on their family's finances The third customer target is women aged 40-60+, with stable income, mainly housewives and working people They will have a need to want to use functional foods to protect healthy, strong hair, accompanied by product safety, clear origin In addition, we also want to target the LGBTQ+ community who want to take care of their hair like their role models MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT 3.5 Positioning Hair-care gummies with the outstanding feature of being a 100% vegan product, using ingredients that are clearly sourced from vegetables and herbs The best position at this time will create the impression and trust of customers This is the ideal space for cocoon's vegan hair gummies to penetrate the market at a mid-range price Realized that in the Vietnamese market, hair care products in pill form, or in candy form, have not developed strongly Most are imported from abroad with relatively high prices, accompanied by imported branded products that will make consumers doubt about the product's origin As for the products at mid-range and low prices, almost all shampoos, serums, essential oils, not to mention some products still use silicones that cause hair loss This is the ideal space for cocoon's vegan hair conditioner to penetrate the market at a mid-range price, accompanied by ingredients, clear origin, made in Vietnam - Product of Vietnamese people, help protect your hair 3.6 Strategies 3.6.1 Product Strategy ● Value propositions product: Cocoon designed its hair gummies to be pectin-based, perfect for anyone looking for a clean, tasty way to add vitamins and minerals to their diet ● Packaging product - The bottle of the product is made of glass, the label design is minimalist, modern, using images of pure Vietnamese ingredients Users will easily feel the Vietnamese soul through the packaging On the top left of the packaging is the Cocoon logo - 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 ● Product support services - Fresh customers’ service: Staff will be allocated in Cocoon shop to help them get to know about the product and to understand how to use the product When purchasing over 2.000.000 VND (including old products), customers will become Cocoon’s VIP own special right to get loyal service MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT - Loyal customers’ service: Loyal customers can get a loyal card in order to collect points annually Cocoon will provide a free facial treatment course for a certain point with specific staffs In addition, Cocoon’s staffs could get their email addresses or mobile phone number to follow up on customers’ satisfaction after using Cocoon’s vegan hair gummies Especially, the company will send the products as gifts on loyal customers’ birthdays 3.6.2 Pricing strategies ● Psychological pricing The specific psychological pricing strategy that we like to adopt is a 1-digit pricing strategy or odd-numbered product pricing The idea behind psychological pricing is that customers will read the slightly lower price and treat it lower than the price actually is ● Penetration pricing Pricing strategy to penetrate the market is used to produce hair gummies at a cheaper price than similar products in the market We will choose going-rate pricing to pricing method The firm bases its price largely on competitors’ prices (competitors’ price is provided in Appendix 1) Retail price: 375.000 VND/ 60 gummy bottle 455.000 VND/ 90 gummy bottle This strategy aids Cocoon to find new customer segments as well as identify potential future customers If a bigger sales volume results in reduced unit costs and a better long-run profit, it's a win-win situation ● Bundle Pricing Using mixed product-bundle pricing, we combine several products and sell them at a lower price than if the products were purchased individually Because Cocoon also has other hair care products and body care products, we will use this pricing strategy for mixed combos – products combos, Woman’s Day combos 3.6.3 Distribution Strategy Cocoon uses push strategies to increase their customer recognition as well as help them easily find out Cocoon’s products So Cocoon’s channel strategy is to use selective distribution In the first year, we will sign more partners until the new product has coverage throughout the Vietnamese market ● Online shopping website & Cocoon Vietnam official website First of all, some well-known cosmetics websites such as Wastons, Unilever, and Hasaki are perfect places to send free samples to customers It also creates a chance to develop a phenomenon where supply is far away less than demand ● Agency Take advantage of Cocoon's distribution system, which is available in more than 100 locations countrywide We also require collaboration or agreements with agencies such as beauty shops, spas, and health centers ● E-commerce Expand product distribution on e-commerce platforms such as Shopee, Lazada, Tiki to increase sales during the Covid-19 epidemic 3.6.4 Promotion Strategy MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT By integrating all messages in all media, we will reinforce the product name and the main points of product differentiation The agency will also coordinate public relations efforts to build the image of Cocoon's hair gummies product and support the differentiation message To generate buzz, we will host contests, games on social media on special events as well as organize environmental campaigns 3.6.5 Customer Service Cocoon will set up and train a team of customer consultants at the point of sale as well as online retailers Besides, we’ll also contact our partners to collect feedback from customers who have purchased and used the product, thereby supporting them if they are not satisfied with the product 3.7 Marketing Mix Hair Gummies from Cocoon will be launched in January Here are summaries of the action plan we will use in the first years to achieve our stated objectives December (2021): We will generate interest by delivering samples to selected product reviewers, opinion leaders, influential beauty bloggers, and celebrities as well as work with sellers at large retail chains to explain Cocoon Hair Gummies features, benefits, and advantages Then, we will conduct surveys on customers' attitudes towards products, monitor customer feedback on product quality and product preference Besides, we will take part in major industry trade shows to explain to dealers and generate channel support as well as preparing to open Cocoon's own delivery channel on its website for the product launch in January - - January: In this month, we will start an integrated Internet campaign targeting professionals and consumers To increase product awareness, we cooperate with professional KOLs, expert influencers review on social networking sites This multimedia campaign will be supplemented with point-of-sale signage as well as onlineonly promotion and video tours At the same time, we will start to conduct the new products at prominent positions in the company's flagship store, implement display strategies at the point of sale, and distribute and sell the new product on e-commerce platforms We will offer discount codes, vouchers to old customers, customers who send feedback to the company Besides, our brand also provides discount codes on ecommerce platforms such as Shopee, Lazada Cocoon will roll in Program for Tet holiday: (21/01/2022 – 25/01/2022): Give away red envelopes and random gifts on every new product on our official website as well as our partner retailers - February: In this month, we will create minigames on Cocoon's communication channels in order to attract the attention of Cocoon customers about the new product We will roll in the photo contest Customers who take photos with Cocoon's Hair Gummies with the hashtag #bongbenhmaitocViet and tag Cocoon on media channels will be able to participate in the minigame with many attractive gifts Beside, the first flagship store of The Cocoon is expected to be built in the heart of Ho Chi Minh City - District - March: In this month, bundle pricing will be implemented for combos such as 3-product combo, Women's Day combo Besides, we will add and maintain consumer promotions 8 MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT such as creating new trends or catching trends on creative platforms like TikTok, Youtube through which you can promote products For example, Cocoon will establish a dancing contest, writing contest, or a photo contest about loving, cherishing, and taking care of themself content on Tiktok with a hashtag belonging to Cocoon, showing how they use Cocoon Hair Gummies in their daily routine We are still expanding, stabilizing, and promoting our distribution channels, both offline and online selling points with standees and advertising on media channels We expect that our new product will be distribute at 40 retailers in Ho Chi Minh city - April: We will be launching new flavors of Hair Gummies Focusing on product packaging design, impressive innovation highlights the 100% safe feature of Cocoon hair's gummies products, especially not testing on animals We will start applying the discount to customers at online retailers on discount festivals such as March 3, April 4, We will also launch the Loyalty program for members: a discount program in the form of "accumulating points" for discounts For every 100,000 VND, customers will earn 10 points and when reaching 100 points, customers will receive a 5% discount on the next purchase We still maintain promotion strategies on both online and offline sales channels - May: We will continue to conduct extensive surveys to check the awareness of Hair Gummies products and continue the display campaigns at the point of sale, expand distribution in large and reputable pharmacies, display where customers are easily recognizable like in front of the counter We will start to expand sales points in big cities nearby Ho Chi Minh city in West and Central such as Can Tho city, Da Nang city We also promote sales on e-commerce platforms, social networking sites such as Facebook, TikTok We will collaborate with a female artist to release a music video for promotion We also maintain the Loyalty member program in this month - June: Because the weather in summer is dry and hot, we will promote ads on social networking sites with the message “Toc khoe chao he cung Cocoon” Cocoon will also carry out a trade marketing campaign in large pharmacies to target the middle-aged audience During that, June 5th is World Environment Day, so we plan to roll out a new environmental campaign this month as well We will encourage customers to return the product packaging When they return the packaging, they will collect stamps to get gifts This helps protect the environment, save costs and enhance community value for the company This program is expected to run through the end of 2022 - July: As the multimedia advertising campaign continues, discount programs will be limited, instead, we wil gradually expand distribution channels to the North At the same time, we launch the mix-flavor Hair Gummies with our new selling points in the North We will still keep the policy of accumulating points for loyal customers and giving slight discounts on e-commerce platforms on big discount holidays Specifically, opening somes flagship store in major commercial centers and signing with partners who are famous cosmetic stores, and taking advantage of existing channels to distribute our new MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT products in big cities such as Hanoi and Hai Phong Besides, we still maintain our promoting on other selling channels - August: We will continue to expand the distribution channel in the North while maintaining the promotion plans in the South During this time, we will be opening some discounts when buying new product directly at new flagship stores in some North typical cities such as 30% off for the first 30 customers to buy and use the product Hair Gummies At the same time, we will impulse promotion program on media channels, especially on E-commerce to preparing for sales program in the next month - September: We promote products by covering Facebook, Instagram and Tiktok through influencers With messages like "Back to school", "End of summer", we want to create a need for beauty to young people This program will be roll in from August 26 to September Not only through online retailers, we want to spread out messages via direct sales of point as well We also encourage customers to buy Hair Gummies by creating some mini-games such as sweepstakes in stores if customers could prove they are under 22 - October: This month, we're going to create some filters on facebook and instagram and let influencers promote it on their personal stories with Cocoon Hair Gummies At the same time, we also started a campaign and posted content about self-care Besides, we also re-uploaded the ingredients of Cocoon Hair Gummies to emphasize its features as well as its benignity We still keep our core strategies and focus on preparing for big sales campaigns in November - November: We're releasing new packaging for our Hair Gummies to match with Christmas, as well as a limited number of packaging to celebrate the Black Friday big sale Besides, during the first haft November (November 1st to November 20th), customers who purchase items for teachers will be received extra gorgeous gift boxes and thank you notes on the occasion of Vietnamese Teachers' Day Furthermore, November 26 (Black Friday) will be the year's most aggressive sales day, up to 25% by combining sales on ecommerce websites between the golden hours of 0:00, 9:00, 18:00, 21:00 Stores will offer a sale-off campaign for a short period The Black Friday sale will last from around November 10 to the end of November Besides, we will try to handle all of our programs by hiring more staff at point of sales - December: To thank customers within a year of new product launch Cocoon will launch ads youtube videos with different stories from different generations in self-care and soul-nourishing These videos will find and touch the empathy of customers in all segments: teenager, adult, and middle-aged women, make them find themselves in it and stimulate their buying needs through purchase situations Besides, we will sell our new product with Christmas combo to celebare Christmas While the same time, we launch vouchers on E-commercial as well in our Customer Gratitude program FINANCIALS 10 MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT 4.1 Break-Even Analysis Break-Even Analysis Break-Even Analysis: Monthly Units Break-Even Monthly Sales Break-Even Assumptions: Average Per-Unit Revenue Average Per-Unit Variable Cost Estimated Monthly Fixed Cost 1.054 437.410.000 VND 415.000VND 5.000 VND 431.875.000 VND 4.2 Sales Forecast Sales 2022 Functional food 7,573,750,000 VND Direct Cost of Sales Functional food 2022 4,562,500,000 VND 4.3 Expense Forecast (Unit : 1.000.000 VND) Table 4.3 MILESTONES Plan Milestones Start date End date Budget Manager Department Research #1 20/12/21 20/01/22 15.000.000VND Ngan Marketing KOLs, Influencers 01/01/22 30/12/22 75.000.000VND Ngan Marketing Discounts on holiday, black friday, opening new flagship stores,… 01/01/22 30/12/22 80.000.000VND Ngan Marketings "Accumulating points" for discounts 01/04/22 30/12/22 50.000.000VND Ngan Marketing Minigame (create new trends) 15/02/22 23/02/22 10.000.000VND Ngan Marketing 11 MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT Research #2 (extensive survey) 01/05/22 10/05/22 25.000.000VND Ngan Marketing Environment campaign 01/06/22 30/12/22 6.000.000VND Ngan Marketing Public relations 01/01/22 (trade fair, sale point, banner, standee, ) 30/12/22 44.000.000VND Ngan Marketing Customer service 01/01/22 30/12/22 45.000.000VND Ngan Marketing Advertising on 01/01/22 E-commerce flatforms 30/12/22 240.000.000VND Ngan Marketing SEO 30/12/22 30.000.000VND Agency Marketing 01/01/22 620.000.000VND Totals CONTROLS The purpose of Cocoon Hair Gummies‘s marketing plan is to serve as a guide for the organization The following areas will be monitored to gauge performance: ● Revenue: monthly and annual ● Expenses: monthly and annual ● Customer satisfaction ● New-product development 5.1 Implementation Below is a summary of the Marketing strategy - mix quarterly 4Ps of The Cocoon Vietnam’s Hair Gummies brand that our team has built Full explanation of each activity is provided in Appendix 5.2 Marketing Organization The marketing activities will be the responsibility of the Brand Manager 5.3 Contingency Planning ● Difficulties and Risks - Training for management employees should be done on a regular basis - Customer demand is consistently stimulated - Managing frequent product and technology improvement successfully 12 MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT ● Worst-Case Risks - Many discounts have an impact on the brand - The worst case is probably many discounts have an impact on the brand To limit this risk from happening, we will set business goals and know the different approaches we can use to achieve them More importantly, we will need to estimate the exact metrics to ensure that we can achieve our goals References - Philip Kolter, Kevin Lane Keller (1967) Marketing Management, publishing as Prentice Hall, One Lake Street, Upper Saddle River, New Jersey 07458 Appendix Appendix Nature’s Bounty Hairburst Sugar Bear 520.000 VND 600.000 VND 800.000 VND Appendix 1st quarter 2nd quarter 3th quarter 4th quarter Product - Promote Hair gummies product line - Create a diversity as well as a difference in the line of hair care products - Promote new flavor product - Promote new flavor product Price - Offer discount to old customers - Bundle pricing - Offer discount on E-commerce Place - Distribute at online retailers and Ecommerce platform - Display at flagship store and retailers - Tiktok challenge - Mini game on social media channels - expand sale points in West and Central - Offer discount to - discount on Enew customers and commerce student under 22 - discount on Ecommerce - expand point of sales to the North Promotio n - Loyalty program - Sales promotion on special events - Release music video - Loyalty program - Sales promotion on special events - Impulse promote on media channels - Promote product - Loyalty program - Sales promotion on special events - Impulse promote on media channels - Release TVC 13 MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT MARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCTMARKETING.PLAN.MARKETING.PLAN.FOR.THE.COCOON.VIETNAM’S.NEW.PRODUCT