(Tiểu luận) topic maybelline launching new makeup collectionfor summer 2024

TRƯỜNG ĐẠI HỌC KINH TẾ TÀI CHÍNH

SPECIAL THANKS

First and foremost, I would like to express my profound gratitude to Ms Vòng Chánh Kiều for her unwavering dedication in guiding, lecturing, and providing feedback to me throughout the process of completing my report Her invaluable advice and attentive guidance have been a great source of encouragement, enabling us to improve our dissertation significantly.

Despite putting forth our best efforts, due to our limited experience, our dissertation still has many shortcomings Therefore, I earnestly hope to receive precious feedback from Ms Vòng Chánh Kiều so that I can apply the research findings to my professional work in the field of marketing management in the future.

TABLE OF CONTENTS II

SPECIAL THANKS ii

CHAPTER 1: EXECUTIVE SUMMARY 2

1.1 Introduction To The Maybelline 2

CHAPTER 2: MARKET ANALYSIS 2

2.1 Overview Of The Vietnamese Cosmetic Business Market 2

2.1.1 Size and growth of the cosmetics market 2

2.1.2 Current market trends 3

5.1.1 Market segmentation by demographics 10

5.1.2 Market segmentation by geography 11

5.1.3 Market segmentation by psychology 11

5.1.4 Market segmentation by behavior 12

5.2 Identify target customers 13

III

5.3.4 Maybelline's Product Specialization: 15

CHAPTER 6: MARKETING STRATEGIC AND TACTICS 15

6.1 Strategies: 15

6.1.1 Creative Social Media Content: 15

6.1.2 Multi-Channel Advertising Campaign: 15

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In the dynamic world of marketing, Marketing Management plays a pivotal role in the success of any brand's campaigns and the establishment of a solid brand image It empowers companies to effectively position their products or services in the market, enhancing brand awareness and fostering consumer loyalty, which in turn, boosts sales and profitability.

Particularly in the context of launching new products, such as Maybelline's new makeup collection for Summer 2024, Marketing Management becomes even more crucial Companies with standout marketing campaigns manage to capture significant market share and create memorable impressions on consumers.

For brands like Maybelline, introducing a new collection is not just about the products themselves but also about creating a narrative that resonates with their target audience This includes understanding consumer trends, preferences, and the competitive landscape Effective marketing strategies might involve a mix of digital marketing, social media engagement, influencer partnerships, and innovative advertising campaigns, all aimed at generating buzz and anticipation for the launch.

Moreover, in such a competitive industry, brands strive to not just launch new products but to create experiences that engage and excite their audience This could include virtual try-on features, interactive online events, or exclusive previews to loyalty program members Such strategies not only drive sales but also strengthen brand loyalty and consumer engagement.

Thus, the role of Marketing Management in the context of launching Maybelline's new makeup collection for Summer 2024 underscores the importance of strategic planning, consumer insight, and innovative engagement tactics in capturing market share and ensuring a successful product introduction to the beauty industry.

This report not only discusses the influencing factors, impacts, strategies, and SWOT analysis of the market research but also provides an overview of the overall campaigns and how the company attempts to capture the market beyond what is apparent The report consists of 10 chapters:

Chapter 1: Executive Summary Chapter 2: Market Analysis Chapter 3: SWOT Analysis Chapter 4: Marketing Objectives Chapter 5: Target Market

Chapter 6: Marketing Strategy and Tactics Chapter 7: Marketing Budget

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Chapter 8: Implementation

Chapter 9: Monitoring and Measurement Chapter 10: Conclusion

CHAPTER 1: EXECUTIVE SUMMARY1.1 Introduction To The Maybelline

CHAPTER 2: MARKET ANALYSIS2.1Overview Of The Vietnamese Cosmetic Business Market

2.1.1Size and growth of the cosmetics marketa Scale

According to research by Mintel - a global market research company, the Vietnamese cosmetic market is worth 2.3 billion USD Sales of the cosmetics market have been growing steadily over the past two decades, averaging around 15-20% per year According to estimates, Vietnam's cosmetics market will reach 11.59 billion USD in 2021 By 2025, the market will reach 14.42 billion USD, up 24% compared to 2021

b Grow

Consumers' interest in cosmetics is increasing, along with the explosion of e-commerce platforms, which have been affecting the cosmetic consumption habits of Vietnamese people According to Kantar Worldpanel's Insight handbook 2021 report, sales of personal care products increased by 63%, skin care products increased by 55%, and makeup increased by 25% compared to 2018

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However, Vietnamese cosmetic businesses only account for 10% of the market, staying in the low-priced segments They are trying to win back this market.

c Comment

The cosmetic market has a relatively large scale and the consumer's demand for cosmetics is increasing due to the change in awareness, lifestyle, and income level, Not only women but also women Male customers are also interested in cosmetics This large consumption will turn the cosmetics market into a fertile business ground in the future.

2.1.2Current market trends

a Sustainability and Ethical Practices

Consumer Surveys: A growing number of consumers indicate that sustainability is a key factor in their purchasing decisions For instance, Nielsen reports that 73% of global consumers are willing to change their consumption habits to reduce their environmental impact.

Market Growth: The global market for organic and natural beauty products is expected to reach $54.5 billion by 2027, growing at a CAGR of 9.4% from 2020 to 2027, according to a report by Grand View Research.Sustainability and Ethical Practices

b Digitalization and the Role of Social Media

E-commerce Sales: The beauty industry's e-commerce sales have seen significant growth, with online sales accounting for approximately 13.7% of total beauty and personal care sales worldwide in 2020, a figure that is expected to continue rising.

Influence of Social Media: According to a survey by Facebook, 74% of consumers rely on social networks to guide their purchase decisions, highlighting the impact of platforms like Instagram and TikTok on beauty trends and sales.

c Personalization and Customization

Consumer Demand: Data from Epsilon indicates that 80% of consumers are more likely to make a purchase when brands offer personalized experiences.

Technology Adoption: Advances in AI and AR are enabling brands to offer personalized beauty recommendations and virtual try-on experiences, significantly enhancing online shopping L'Oréal's acquisition of ModiFace, a leader in AR beauty tech, underscores the industry's move towards high-tech personalization solutions.

d Inclusivity and Diversity

Product Range Expansion: Following Fenty Beauty's launch with 40 foundation shades in 2017, many brands have expanded their product ranges to include a wider array of shades Data from Mintel shows that launches of foundation products with 40 or more shades have increased by 140% since Fenty Beauty's debut.

Consumer Expectations: A study by Accenture found that 70% of millennials are more likely to choose one brand over another if that brand demonstrates inclusion and diversity in its promotions and offers.

e Health-Conscious Beauty

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Market Size: The global market for clean beauty products is projected to reach $11.6 billion by 2027, according to Statista, growing at a CAGR of 12% from 2020 to 2027 Consumer Preferences: A survey by Kari Gran found that 75% of women read the ingredient labels on beauty products before making a purchase, emphasizing the importance of non-toxic and beneficial ingredients.

f Innovative Product Formats

Product Innovation: The lipstick market has seen the introduction of new formats such as liquid lipsticks, lip powders, and lip stains, catering to diverse consumer preferences for finish and longevity.

Consumer Adoption: According to Mintel, 55% of beauty consumers are interested in trying products with new formats or applications, indicating a market open to innovation.

2.1.3Maybelline persona

Affordable, trendy makeup Enhancing natural features Self-expression and experimentation Youthful, skin-friendly products Keeping up with makeup trends.

Interest & Hobbies

Makeup experimentation, tutorials Fashion and beauty blogs Theater, dance (possibly) College events, socializing Exploring cafes, and hangouts.

Pain Points

Budget limits for makeup Young, sensitive skin concerns Trend upkeep.

Peer comparisons, self-esteem.

Social Media Presence

Instagram, Pinterest, Facebook, Twitter, etc This brand is also very famous for its line of mineral-based

Innisfree is known for its skincare products made from natural ingredients, notably green tea, volcanic ash, etc The beauty products from Innisfree range from makeup items to specialized skincare sets 4

gloss, and lip liner for lip are naturally safe and suitable for all skin types, including sensitive skin The brand excels in diversifying its product range, with all items priced from

Innisfree, despite its unique and natural

lighter skin tones and less so for darker complexions This has led to MAC being less

2.1.5Customer Need

Customers in the lipstick market have specific expectations that brands must fulfill to gain and retain their loyalty One of the most critical aspects is the availability of a broad spectrum of shades This variety allows individuals to find colors that not only match their skin tone but also align with their personal style preferences Ensuring a diverse color palette is essential for catering to the wide-ranging tastes and needs of consumers, making it a pivotal factor in the success of lipstick brands.

a Lip Care Products

Lip balms, chapsticks, and lip treatments offer moisturization and care without the color payoff of traditional lipsticks While their primary function is to hydrate and protect, many consumers might opt for these products over lipstick for a natural look or to address lip health concerns.

b Lip Glosses

Though lip glosses are closely related to lipsticks, they often serve a different aesthetic purpose by providing a sheer, shiny finish compared to the opaque coverage of lipsticks Consumers seeking a more subtle or casual look might prefer lip glosses, making them an indirect competitor.

c Tinted Lip Balms

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Blurring the line between lip care and makeup, tinted lip balms provide both hydration and a hint of color For consumers prioritizing comfort and a natural appearance, these products can be an attractive alternative to traditional lipsticks.

d Lip Stains

Lip stains offer long-lasting color with a more natural finish, appealing to consumers who want durability without the texture or weight of a lipstick They cater to the need for low-maintenance beauty routines.

e Multi-Use Beauty Products

Products designed for multiple uses, such as cheek and lip tints, can be indirect competitors to lipsticks These versatile products appeal to consumers looking to streamline their beauty routine or seeking value through multi-functionality.

f Digital Beauty Apps

With the rise of augmented reality (AR) and virtual makeup applications, some consumers might turn to digital solutions to experiment with different looks without purchasing physical products While not a direct substitute, these apps can influence consumer behavior and spending Maybelline is a budget-friendly cosmetics brand specializing in makeup products, established in the United States in 1915 The brand name Maybelline was created by combining the name Mabel with Vaseline Maybelline is a subsidiary of the French L'Oréal Group More than 100 years since its founding, Maybelline has expanded its presence to over 129 countries worldwide.

Recognizing the attractiveness of the Vietnamese market, in 2007, the L'Oréal Group (France) decided to open a subsidiary in Vietnam, introducing brands such as Lancome, L'Oréal Paris, and Maybelline New York into one of the 15 markets identified as having potential by the Group While L'Oreal's revenue in some other markets grows by only 7-8% per year, in Vietnam, there have been times when revenue increased by up to 17% per year.

Maybelline has grown steadily over the years and has become beloved among many young Vietnamese people Maybelline boasts a list of brand ambassadors that includes some of the most famous names worldwide, such as Josie Maran, Miranda Kerr, Sarah Michelle Gellar, Melina Kanakaredes, Zhang Ziyi, Siti Nurhaliza, Fasha Sandha, Sheetal Mallar, Julia Stegner, Jessica White, and Kristin Davis.

In Vietnam, the brand's representative aligns well with the New York cosmetics brand's image, targeting Gen Z singers because Maybelline is a makeup brand for young, confident, dynamic, resilient girls who are always successful in their endeavors.

Prices range from 100,000 to 150,000 VND, making it very affordable for students, people with low to moderate incomes Today, despite the influx of various cosmetics into the Vietnamese market, from high-end to budget-friendly, and especially with the rise of Korean makeup products and trends like lipstick and cushion foundations, Maybelline still maintains a strong position both in the minds of consumers and at sales points, thanks to a sensible market approach and development strategy.

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CHAPTER 3: SWOT

3.1.1STRENGTHS (S):

S1: Diverse Product Range: Maybelline offers a wide array of cosmetic products to meet diverse customer needs.

S2: Creative and Attractive Brand Display: Makes a strong impression on customers through packaging and product display.

S3: Strong Ties with the Film Industry and Celebrities: Enhances brand image and trust S4: Good Product Quality: Ensures customer satisfaction and loyalty.

O1: High Beauty Demand: Women worldwide use cosmetics for beautification O2: Financially Empowered Women: Willing to spend on appearance and quality products.

O3: Increasing Women's Income: Leads to impulsive shopping behavior based on preferences.

3.1.4THREATS (T):

T1: High Competition: Faces many large brands in the market T2: Chemical Concerns: Products criticized for chemical content.

T3: Global Economic Downturn: Negatively affects the cosmetics business sector.

S-T Strategy: Improve product quality, Strengthen communication strategy, Develop

eco-friendly products.

W-O Strategy: Improve website and social media, Differentiate through packaging and quality,

Expand target market.

W-T Strategy: Invest in research and development of new products, Optimize communication

strategy, Enhance product safety.

CHAPTER 4: MARKETING OBJECTIVES

4.1 Insight

The target audience for the campaign is Gen Z aged 15-25 This demographic is starting to show interest in makeup but lacks expertise in application With an active lifestyle, they seek simple and convenient makeup tips that don't consume too much time while still allowing them to express their individuality Additionally, Gen Z tends to favor brands with unique identities and are concerned about social issues (environment, gender equality, etc.) They are also keen on engaging with their favorite brands on social media.

1 Increase sales of the matte lipstick product line during the summer 2 Enhance brand and product awareness both online and offline.

3 Stimulate demand and desire for matte lipstick products during the summer 4 Expand the customer base and attract a younger, more dynamic demographic.

CHAPTER 5: TARGET MARKETING5.1Market Segmentation

One of the best ways to understand the Maybelline target market is to understand why people turned lipstick cosmetics in the first placethe Why do people need to change the way they look? What is the underlying reason for trying to look different?

Once we understand a consumer's root reasons for using, then we need to ask ourselves why they buy Maybelline when there are numerous other cosmetics brands out there like Estee Lauder, L'Oreal, Mac Cosmetics and Lush, just to name a few.

Such a thought analysis helps us divide the Maybelline target market into the following groups:

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