Trang 1 iUNIVERSITY OF FINANCE – MARKETING Faculty of Marketing FINAL EXAM MARKETING MANAGEMENT MARKETING PLAN THE NEW PRODUCT OF COCOON BRAND: WINTER MELON SUNSCREEN PLUS Lecturer : Ngô
Trang 1UNIVERSITY OF FINANCE – MARKETING
Faculty of Marketing
FINAL EXAM MARKETING MANAGEMENT
MARKETING PLAN
WINTER MELON SUNSCREEN PLUS
Class Code : 2311702006001
Ho Chi Minh, 2023
Trang 2UNIVERSITY OF FINANCE – MARKETING
Faculty of Marketing
FINAL EXAM MARKETING MANAGEMENT
MARKETING PLAN
WINTER MELON SUNSCREEN PLUS
Ho Chi Minh, 2023
Trang 3TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 1
2 SITUATION ANALYSIS 1
2.1 Marketing Summary 1
2.1.1 Market Demographics 1
2.1.2 Market Needs 2
2.1.3 Market Trends 2
2.1.4 Market Growth 3
2.2 SWOT Analysis 3
2.2.1 Strengths 3
2.2.2 Weaknesses 3
2.2.3 Opportunities 3
2.2.4 Threats 4
2.3 Competition 4
2.4 Product Offering 5
2.5 Key to Success 5
2.6 Critical Issues 6
3 MARKETING STRATEGY 6
3.1 Mission 6
3.2 Market Objectives 6
3.3 Segmentation 7
3.4 Target Markets 9
3.5 Positioning 9
3.6 Marketing Mix 9
3.7.1 Product 9
3.7.2 Price 10
3.7.3 Place 10
3.7.4 Promotion 11
3.7.5 Customer Service 12
4 MARKETING TACTICS 12
4.1 General Timeline 12
4.2 Detail Timeline 13
5 FINANCIAL PROJECTIONS 14
Trang 45.2 Sales Forecast Monthly 14
6 IMPLEMENTATION CONTROLS 15
6.1 Marketing Organization 15
6.2 Contingency Planning 15
JOB ASSESSMENT TABLE 16
REFERENCES 17
Trang 51 EXECUTIVE SUMMARY
Cocoon Original Vietnam is a Vietnamese natural vegan cosmetic brand Cocoon belongs to Nature Story Cosmetic Co., Ltd - Vietnam Cocoon products are completely natural and committed to not testing on animals 6 years ago, Cocoon officially launched users with 2 main products: squash extract and grapefruit peel extract, specializing in acne treatment and blurring bruises At this time, Cocoon began to receive a lot of reception from consumers But not stopping there, after 3 years of investment in research and product improvement, Cocoon has officially returned and successfully conquered Vietnamese consumers with a new professional look and outstanding quality In September 2020, Cocoon was certified "not tested on animals and vegan" by the global animal welfare organization PETA In November 2020, Cocoon officially became the first Vietnamese brand approved to participate in Cruelty-Free International's The Leaping Bunny program - one of the famous programs to ensure the production process is not tested on animals as part of a commitment not to test on animals.Cocoon buys all-natural ingredients directly from local farmers and combines them with imported active ingredients, vitamins, and foundations to create 100% traceable ingredients Cocoon develops 100% vegan cosmetics using clearly sourced plant-based ingredients instead
of ingredients derived from animals
The “Green Commitment” is always present in their designs, with all packaging made of friendly paper, no plastic lamination and the inner bottle being recyclable At the same time, inspire and spread good messages about the environment through many related events
eco-We realize that the climate is getting warmer, and people are very concerned about protecting their skin So, we decided to launch a new product improved from the old Cocoon product And that product is called "Winter Melon Sunscreen Plus" In the immediate future, Cocoon will update new product information on the company's website system Use media advertising methods to attract young consumers Cocoon will distribute at reputable cosmetic retail systems such as Guardian, Hasaki, Beauty Box, and Beauty Garden to reach more consumers, combined with e-commerce platforms from Lazada Mall, and Shopee Mall Initially being widely distributed, Cocoon's new sunscreen line will have the opportunity to reach more customers
Trang 6+ People live in hot and dry climates
+ Beside that Cocoon also develops a distribution channel in rural and suburban areas
− Demographics:
+ Although Cocoon uses gender segmentation where the consumer market is mainly women, Cocoon products are also suitable for men who want to take care of their skin.+ Location: The majority live in cities and towns and the rest live in rural and suburban areas as well as dry weather areas
+ Profession: targeting all professions (Student, housewife, official, singer, actress, model)
+ Age: 16 - 35, 35-55, 55+
+ Income: Cocoon's target is middle to high-income customers
− Behavior Factors:
+ Prefer taking care of themselves
+ Care about appearance, especially skin
+ Consumers have acne skin, oily skin, and sensitive skin
2.1.2 Market Needs
The demand for skin care products is increasing because humans are constantly exposed to toxins from the photos of the sun, dust causing the skin to be damaged, aging, and melasma In addition, skin care products from foreign brands in the Vietnam market are quite high, and not suitable for most people's pockets Grasping the market demand has not been resolved:
− Product: Products are made from natural ingredients, vegan with clear origin, and good for health
− Affordable price, suitable for most consumers
− 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
Today, the issue of skin care and protection from external effects is also extremely common But the current products on the market cannot meet all these needs Besides, along with global heat on environmental protection, people are increasingly interested in environmentally friendly products Most individuals also support the green lifestyle, so they are always looking for pure vegetarian products and do not check on animals to show their lifestyle Grasping the unpopular needs of the market, Cocoon has launched many new product lines to meet the above needs
Trang 82.1.4 Market Growth
The cosmetic market in 2022 achieved impressive revenue in Vietnam According to general research, revenue in the cosmetic and personal care market reached US $ 2,290 million by 2021 The market is expected to grow annually by 6.2% (CAGR 2021-2025) In particular, the most popular skincare products, with more than 60% of consumers using them every day, increasing available income, and increasing young population are the main factors that promote the product market Vietnamese skin care products developed In particular, the most potential customer segment in the future is the Z generation, accounting for 39.08% of the total population In general, these factors have increased the demand for skin care products from domestic consumers
2.2 SWOT Analysis
2.2.1 Strengths
− Consumers' demand for natural cosmetics is increasing
− The policy of the State is encouraging "Vietnamese people to use Vietnamese goods"
− Cocoon's products set cGMP standards of the Ministry of Health of Vietnam and "Animal test-free & Vegan" certification by PETA
− Cocoon is the first Vietnamese cosmetic brand approved by Leaping Bunny - Cruelty-Free International is committed to not testing on animals
− Cocoon has a dense distribution network with more than 300 sales points in Watson, Guadian, Sammishop, Hasaki, And tends to do business on e-commerce platforms
2.2.2 Weaknesses
− The psychology of Vietnamese consumers prefers foreign products
− In terms of communication, Cocoon has not taken full advantage of the promotion channels, there are still many people who are skeptical about the effects of Cocoon products Therefore, the Cocoon market was not developed at first
− Cocoon has a wide distribution channel in major cities and provinces, but in terms of density and coverage, it is still not comparable to a series of foreign cosmetic brands including non-vegan cosmetics
− Consumers are increasingly demanding and expect more about the value of products
2.2.3 Opportunities
− The demand for beauty from consumers is increasing with the development of human life
− Cocoon started with a potential market niche - vegan cosmetics, starting to gain attention with consumers and will certainly become a trend in the future
True-ICE- Cream… marketing
Marketing-plan-TH-management 100% (1)
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Trang 9− The rapidly growing information technology network is also an opportunity for Cocoon to take advantage of modern communication methods, which can provide all necessary information to customers about its products and develop channels of Online sales and delivery services to increase sales and profits
− Cocoon has reasonable prices, easy to accept for low-middle-income people
2.2.4 Threats
− Cocoon is subject to fierce competition in terms of sources of goods, prices, and promotions among brands
− Fierce competition with international cosmetics
− Challenges from the technology platform in the post-Covid-19 New normal period.2.3 Competition
With such popularity and position, Cocoon still must compete with other benign cosmetic brands Here are some brands that compete with Cocoon:
sharing the benefits of
nature: No mineral oil -
improve products to meet
customer needs, and
100% pure ingredients
pure
− Klairs is a cosmetic brand from Korea, Klairs is a cosmetic brand that is completely natural, benign, and suitable for all skin types Klairs products always aim to
be safe for human health (No harmful ingredients for consumers, no harmful substances, and
no testing on animals)
− Klairs' product lines are popular such as Rosewater, face wash, Klairs Vitamin C essence, Moisturizing cream, etc In the Vietnamese market,
− COSRX is a Korean domestic cosmetic brand established in 2014
orientation is a cosmetic brand with natural ingredients and is extremely benign to the skin This brand is also loved for its commitment not to test on animals, so COSRX is very popular with Vietnamese consumers
− With a wide range of products, focusing on many skin care needs of customers such as whitening, and anti-
Trang 10− Innisfree's diverse
product lines (such as
facial cleansers, masks,
moisturizers, make-up
products, makeup
removers, .) along with
quite affordable prices for
customers are also a great
choice great competition
for Cocoon
− Innisfree's market in
Vietnam is also quite
popular thanks to its
product quality and
− Klairs also promotes sales on reputable and popular e-commerce sites such as Lazada, Tiki, and Shopee, to save time for customers
aging , COSRX is also known for its product lines dedicated to sensitive skin, especially acne-prone skin along with the price quite suitable for the
− Tactics for using social media marketing
− Leverage influences marketing
− Brand positioning strategy
− Producing products that are beneficial to health and society
Trang 11In addition, Cocoon also relies on many other factors to succeed such as:
− About the focus strategy: Cocoon has always focused on its business philosophy, products must be safe, effective, and not derived from plants
− About people: Cocoon always has employees who thoroughly understand the needs and new trends of consumers
− About marketing: Cocoon has competitive prices; Product packaging is friendly, and no plastic film can be recycled; Cocoon has quite extensive online and offline distribution channels
2.6 Critical Issues
Cocoon has not fully utilized its brand promotion channels Communication about the features and effects of the product is not very prominent, there are still many people who are skeptical about the effects of Cocoon products To strengthen its strong position in the cosmetics market, Cocoon needs to have new forms of highly competitive communication to make its mark in the hearts of consumers Cocoon can communicate by sponsoring programs to protect the natural environment, animals, etc to increase the value of the business in the eyes of customers and at the same time promote the products of the business
In addition, enterprises can also organize activities related to schools, students, and students such as supporting disadvantaged people, having good academic performance or big school activities; supporting activities to welcome new students at universities, and teamwork with foreign companies and businesses to promote their products and names
A few more important issues that Cocoon needs to address are product packaging and product quality Therefore, Cocoon needs to improve its packaging and product quality
Trang 12− Increasing identity to customers about a good quality vegetarian cosmetic brand from Vietnam.
− Transferring the right message to the target customers about the use of organic products does not contain chemicals and micro seeds that are harmful to the environment
− Environmentally friendly solutions such as recycled materials, and "natural" design protect nature, and the environment and encourage sustainable living
All cities in Vietnam
All cities in Vietnam
All cities in Vietnam
Behavior
Reason for
purchasing
− Protect your skin from sun damage
− Product ingredients are benign and environmental
ly friendly
− Protect your skin from sun damage
− Product ingredients are benign and environmental
ly friendly
− Protect your skin from sun damage
− Product ingredients are benign and environmental
ly friendly
Benefits
− The product is made from natural
− The product is made from natural
− The product is made from natural
Trang 13ingredients, is safe for the skin, and does not cause irritation
− The advanced filter system is suitable for all skin being treated Has good sun protection with SPF 50+
PA++++, which protects the skin from
UV rays for a long time
− Easy to blend into the skin,
no clumping,
no unsightly white grooves
Does not cause stinging
or irritation when used
Can improve skin tone when used
ingredients, is safe for the skin, and does not cause irritation
− The advanced filter system is suitable for all skin being treated Has good sun protection with SPF 50+
PA++++, which protects the skin from
UV rays for a long time
− Easy to blend into the skin,
no clumping,
no unsightly white grooves
Does not cause stinging
or irritation when used
Can improve skin tone when used
ingredients, is safe for the skin, and does not cause irritation
− The advanced filter system is suitable for all skin being treated Has good sun protection with SPF 50+ PA++++, which protects the skin from
UV rays for a long time
− Easy to blend into the skin,
no clumping,
no unsightly white grooves Does not cause stinging
or irritation when used Can improve skin tone when used