cocoon outline assignment

BackgroundThe Beauty & Personal Care market is growing and one of the fastest growing consumer markets, driven in particular by the Cosmetics and Skin Care segments.The main reason for t

I Background

The Beauty & Personal Care market is growing and one of the fastest growing consumer markets, driven in particular by the Cosmetics and Skin Care segments The main reason for this strong growth is the generational shift young consumers entering the market

When beauty issues are increasingly needed, people are more careful with what they put on their skin and promote humanitarian factors, vegan cosmetics is a trend that many people choose In Vietnam, Cocoon is known as one of the pioneering domestic brands in this field They launched vegan product lines extracted 100% from nature, safe, benign and committed not to test on animals

The purpose of this marketing plan is not only to build Cocoon’s brand image in Thailand, but through that, we also want to raise awareness as well as attract the attention of everyone about these vegan beauty care products

II CoCoon Brand

2.1: About CoCoon

- Brand meaning

Cocoon means "cocoon", the cocoon is like a "house" to incubate and nurture a small worm to one day turn into a beautiful and gorgeous butterfly From that meaning, Cocoon is the "home" to take care of the skin and hair of

VietnameseNm thnh lạp: 2013

Trc thuc: Cng ty TNHH m phâm NATURE STORY

- Vision

Cocoon was born with a simple reason to beautify the Vietnamese people from the close and familiar sources of raw materials Vietnam is a country known for its rich agriculture, so the flora is extremely rich from fruits to herbs.They contain valuable nutrients that are not only delicious to eat but also very good for skin and hair

- Mission

Cocoon was created to give you healthy, youthful, and vibrant skin and hair from simple and close ingredients that you eat daily Cocoon has always kept one mission to apply the benefits of the foods around us combined with scientific understanding to create safe and effective cosmetic products for everyone

- Commitment

100% ingredients are clearly sourced and safe for the skin All

ingredients in our products have documents proving their origin from domestic and foreign raw material suppliers Of course, our products are formulated to be free of ingredients such as parabens, formaldehyde, phthalates, hydroquinone, triclosan, and more

100% vegan: we do not use ingredients derived from animals commonly found in cosmetics such as: honey, beeswax, fleece fat, sheep placenta, snail fluid, shark liver oil, silk silkworm,

100% never tested on animals: We do not perform tests on animals such

as rabbits, mice, fertilized egg yolks, because of humanity and undying promises to customers and the community

- Achievements

COCOON is very honored to be the first Vietnamese cosmetic brand to

be approved in the Leaping Bunny program by Cruelty-Free

International, which is committed to not testing on animals as well as cruelty to animals of Cruelty-Free International

Certified not tested on animals in the Beauty Without Bunnies program from PETA the “rabbit” symbol on the packaging

COCOON products are 100% vegan, registered by The Vegan Society - a long-standing educational charity in the world With the "sunflower" symbol

Cocoon is honored to be honored twice as Asia Inspiring Brands at APEA 2021 and 2022

2.2: CoCoon products

III Findings

3.1 Market analysis

3.1.1 Thailand research

Thai Lan la m t qu c gia khu v c Đong Nam A, co kho ng 70 tri u dan (nam ọ ô ơ ư a ẹ 2021)

Thai Lan s n sang tr thanh trung tam lam đ p c a ASEAN v i th trẵ ơ ẹ ủ ớ ị ườ ng

người dan Thai Lan thi co th th y h s n sang b ra m t kho ng khong nh cho ê â o ẵ o ọ a o

m ph m Chinh vi th Thai Lan la m tđy â ê ọ ượ c d bao s đ t gia tr h n 7,3 t USD ư ẽ ạ ị ơ ỷ vao nam 2022 th trị ườ ng ti m nang đ Cocoon tham nh p va phat tri n.ê ê ạ ê

3.1.2 Thailand cosmetics analysis

Người Thai co xu hướng coi tr ng v ngoai va v đ p c a minh, đi u nay đa o e e ẹ ủ ê

được ch ng minh b ng k t qu nghien c u cho th y 81% c dan noi r ng h ư ă ê a ư â ư ă o

s ti p t c chi tieu nhi u h n b ng s ti n h đa chi cho m ph m.ẽ ê u ê ơ ă ô ê o y â

Van hoa Thai Lan ch u nh hị a ương sau s c t cac t tă ư ư ươ ng Ph t giao - ton giaoạ chinh th c đư ược cong nh n la qu c giao đ t nạ ô ơ â ướ c Va cung chinh do ch u ị

nh h ng sau s c t Ph t giao ma ng i dan cung r t coi tr ng vi c s ng

chay

Th trị ường m ph m Thai Lan hi n co kh nang m r ng l n h n thong qua y â ẹ a ơ ọ ớ ơ

c ng đ ng kinh t ASEAN, n i thuc đ y cac chinh sach thọ ô ê ơ â ươ ng m i t do ạ ư

gi a cac nư ướ c thanh vien

Nguơi ti"u d$ng cu&i c$ng c'a c)c s+n phâm m phâm khng ch- bao g0m nguơi d$ng trong nuơc m cơn cơ c+ kh)ch du l3ch nuơc ngoi

3.1.3 Assessment of market size and estimated market growth

In 2020, the total market size of beauty and cosmetics

Thailand closed 2020 with a cosmetics market value of $6.8 billion representing almost 25% of the ASEAN countries’ total sales of $27.7 billion, according to international market research firm, Euromonitor International This is no

surprise as one of ASEAN’s largest economies The market size of

skincare products was highest for facial skincare and was followed by

body skincare items

Thailand has also outpaced the economic region’s cosmetics market growth rate, ranging between 7.2-7.9% CAGR between 2014-2019, one of the fastest growing areas within the Thai FMCG sector, compared to ASEAN’s 6% Thailand’s beauty market is also expected to grow an average 2% annually over the next

two-year period This claim can be backed by a 2020 HKTDC (Hong Kong

Trade Development Council) survey

3.1.4 Market trends

The survey findings reflect a shift in consumers’ priorities towards a holistic

approach to health and the environment Demand for specialist and natural skin care and cosmetics is on the rise Brands can command higher prices if they target the premium and speciality sector, offering natural and organic skincare, make-up and hair care

Why are people becoming ‘So vegan’ in Thailand?

because of the profound influence of Buddhism that people also attach great importance to vegetarianism Being a vegan includes not only eating plants, but also using plant-based products, preferring plant-based cosmetics and not harming or testing on animals

There has been an increase in vegan skin care products Most people believe that vegan beauty products are best for the skin, it is easily absorbed by the skin Many beauty bloggers post their vegan skin care products and the public

is excited about these products

As Thailand is moving towards an aging society, vegan cosmetic brands will be considered options to help nurture and maintain beauty

Most female respondents have bought cosmetics from new brands on social

3.2 Competitive analysis

3.2.1 Profiling competitors

- Brisuthi

Brisuthi is known for its minimalist, eye-catching packaging This brand is loved for its organic ingredients and free of chemicals True

to its name, Brisuthi translates in Thai as "pure".

- Common Ground - Naturally Balanced Skincare

Common Ground products focus on rejuvenating your natural beauty with plant based ingredients, allowing you to care for your hair, skin, and the environment at the same time

3.2.2 SWOT analysis

● Strength:

- Nướ ưc a chu ng v lam đ p, ngọ ê ẹ ườ i dan chi tieu đang k ê(v i GPA: ớ 7233.4/ ngườ i/ năm) cho m ph m nen đay chinh la th try â ị ườ ng ti m ê nang cho Cocoon phat tri n ê

- Gia thanh so v i cac đ i th c nh tranh cung h p li h n ớ ô ủ ạ ợ ơ (không quá cao cũng nh quá th p), ư ấ đi u nay d n đ n vi c d dang tieu th s n ê ẫ ê ẹ ễ u a

ph m va ti p c n đâ ê ạ ượ c đ n nhi u v i t p khach hang khac nhau h n.ê ê ớ ẹ ơ

- Mang trong minh la x m nh nang niu v đ p ngư ẹ e ẹ ườ i dùng b ng cac ă

s n ph m thu n chay cùng v i kinh nghi m 7 nam lĩnh v c nay, a â ầ ớ ẹ ơ ư COCOON t tin đư ược đon nh n Thai Lan vi van hoa c a đ t nạ ơ ủ â ướ c chùa vang cung nh th ph n tieu th s n ph m h u c n i đay d n ư ị ầ u a â ư ơơ ơ ẫ

đ u Asian vao nam 2018 v i 29,3% th ph n v m t gia tr ầ ớ ị ầ ê ặ ị

English version:

- Thailand is a country which is fond of beauty, people spend significantly on cosmetics, so this is a potential market for Cocoon to develop

- The price compared to competitors is also reasonable, which leads to easier product consumption and access to a wider range of customers

- COCOON is confident that it will be well received in Thailand due to the culture of the golden temple country as well as its market share, bringing in the destiny of cherishing the beauty of users with vegan products and 7 years

of experience in this field Organic product consumption led Asia in 2018 with

a 29.3% market share in terms of value

● Weakness:

- Brand còn m i l , ch a đớ ạ ư ượ c nhi u ti ng tam va s chu ý t nh ng ê ê ư ư ư

ngườ ưới n c ngoai

- Quy mo doanh nghi p ch a v ng vang va ti m l c tai chinh ch a đ ẹ ư ư ê ư ư ủ

t t đ t o nhi u ho t đ ng, đ u t xu t kh u ô ê ạ ê ạ ọ ầ ư â â

- Khong hi u rõ v customer behviour c a ng dan Thai lan b ng cac đ i ê ê ủ ă ô

th chung segment.ủ

- Brand is still new, has not received much fame and attention from foreigners

- The scale of the business is not stable and the financial potential is not good enough to create many export activities and investments

- Failure to comprehend Thai customer behavior as well as competitors

in the same market

● Opportunity

- N m trong cac nă ước ASEAN, s đẽ ượ c hươ ng cac u đai Cocoon v ư ê thu su t cung nh vi c xu t kh u s d dang h n Do đo, s n ph m ê â ư ẹ â â ẽ ễ ơ a â

c a Cocoon s khong b đ n gia len qua cao, v n gi m c trung binh ủ ẽ ị ọ ẫ ươ ư

đ d dang tieu th ê ễ u

- Th trị ường m ph m thu n chay đy â ầ ượ c d bao s m r ng đang k ư ẽ ơ ọ ê trong nh ng nam t i Cac cu c bi u tinh ch ng l i vi c th nghi m ư ớ ọ ê ô ạ ẹ ử ẹ tren đ ng v t đang m đọ ạ ơ ường cho vi c m r ng th trẹ ơ ọ ị ườ ng m ph m y â thu n chay ầ

- COCOON đa được bay ban 1 trong nh ng đ i lý ban l l n va co ten ơ ư ạ e ớ

tu i la Watson t i VN, v y nen đi u nay cung th giup COCOON khi ổ ạ ạ ê ê

ti n vao th trê ị ườ ng Thai ph n nao d dang h n khi co th thong qua ầ ễ ơ ê

đ i lý ban l nay đ xu t hi n cac Đ i sieu th ạ e ê â ẹ ơ ạ ị

- Cocoon co h p tac v i Watson, m t trong nh ng kenh phan ph i s n ợ ớ ọ ư ô a

ph m cham soc da hang đ u c nâ ầ a ướ c Đay chinh la m t c h i cho m ọ ơ ọ ơ

r ng sa Cocoon ng th trọ ị ườ ng Thai Lan

- According to findings, Thailand consumer co hanh vi mu n th s n ô ử a

ph m m i n u s n ph m đo đâ ớ ê a â ượ c review tich c c V i s phat tri n ư ớ ư ê

c a social media, m i ngủ o ườ ẽ êi s bi t đ n cong d ng c a s n ph m ê u ủ a â COCOON nhi u h n n u đê ơ ê ượ c đanh gia t t b i influencers, kocs and ô ơ kols

- Because it is in ASEAN countries, it will benefit from Cocoon incentives such as lower tax rates and easier exporting As a result, Cocoon's products will not be overpriced, but rather kept at a reasonable level for

easy consumption.

- The vegan cosmetics market is forecast to expand significantly in the coming years Protests against animal testing are paving the way for the expansion of the vegan cosmetics market

● Threat:

- Co nhi u thê ương hi u đ i th c nh tranh l n noi chung va cac hang ẹ ô ủ ạ ớ

m ph m thu n chay n i va ngo i đ a noi rieng t i Thai Lan Since y â ầ ọ ạ ị ạ there are also many vegan brands in Thailand, it is possible that consumers in Thailand will have higher requirements for vegetarian cosmetics from abroad

- Thai Lan la nước xu t kh u m ph m l n trong kh i Asian v i â â y â ớ ô ớ Monthly sales volume of skin care in Thailand 7.5k tons in 2021 (MPG, 2021) v y nen cung r t kho đ COCOON co th t o ra nhi u l i nhu nạ â ê ê ạ ê ợ ạ

t i qu c gia nay ạ ô

- There are many major competitor brands in general and domestic and foreign vegan cosmetic brands in particular in Thailand Since there are also many vegan brands in Thailand, it is possible that consumers in Thailand will have higher requirements for vegetarian cosmetics from abroad

IV Marketing Strategies for CoCoon

4.1 Product Strategy

Cocoon has 4 main categories of their products

A Skincare:

• Cleansing oil

• Micellar water

• Cleanser

• Toner

• Face polish

• Serum

• Cream

• Mask

B Body care:

• Hand soap

• Shower gel

• Body polish

• Body lotion

C Haircare:

• Hair tonic

• Hair serum

D Lip care:

• Lip balm

• Lip scrub

Mặt

3 tẩy trang

3 rửa mặt

1 da chết

3 mặt nạ

3 nước cân bằng

5 tin chất

3kem dương

1 chống nắng

1 xịt khoáng

Tóc: 5 sản phẩm

Body 5 sp

Moi 2sp

4.2 Distribution channel strategy 4.2.1 Online

- Social media

In order to help clients understand the brand's background, Cocoon should also

concentrate on developing a social networking site with material centered around its values, such as posting articles outlining the mission, informing them of the

business's activities In addition, Cocoon can publish chat posts on various possible platforms to interact with customers by organizing events where attendees are asked

to share their photographs and tales with hashtags connected to the brand's ideals, which combine local beauty with global inspiration This participation advances the story and fortifies ties with the target audience, raising customer interest, sympathy, and brand recognition

- E-com (Line, Shoppe, Lzd)

Reason for choosing: According to the Thai Ministry of Digital Economy and Society: E-commerce marketplaces appear to be the preferred shopping channel for Thai consumers In addition, Accelerated by the pandemic, Thais of all ages and incomes are becoming more comfortable shopping online, with e-commerce channels – from social commerce to delivery apps – the preferred sales channel.

Figure: WARC(How the pandemic has changed the Thai consumer: What to

expect in 2022 | WARC)

Based on the data in the figure, we can see that the shopping trend of Thai people on platforms such as Shopee, LZD and Facebook is very high So we can distribute products on those e-commerce platforms

- Landing page

A key component of Cocoon's online marketing plan to sell products in Thailand is their landing page Through digital advertising, customers will be directed to landing page that promote a particular good, service or offer and encourage them to act This

is our chance to increase conversions and expand our clientele

Cocoon developed a landing page and successfully launched products in Vietnam Therefore, we must develop a comparable landing page in Thai in order to effectively introduce Cocoon's products and offer promotions to Thai people

Figure xx: Cocoon landing page (Source: Cocoon Vietnam)

4.2.2 Offline

Retail store

Siam-shopping mall

Watson(nh m đ n s bao ph va ti n l i) ă ê ư ủ ẹ ợ

Lí do chọn

-co c a hang đ u tien vao nam 1996, thử ầ ương hi u lau đ i co dẹ ờ ượ c ni m tin v ng ê ư

m nh c a ngạ ủ ườ i tieu dùng

V i s lớ ô ượ ng store co m t t i Thai Lan tren 500 store s giup s n ph m c a cocoon ặ ạ ẽ a â ủ

ti p c n đê ạ ượ ô ược s l ng l n khach hang va tang đ ph thớ ọ ủ ươ ng hi u cho brand, va ẹ

nh m đ n s ti n l i cho khach hang khi mua s m- đau cung co, đi đau cung th y ă ê ư ẹ ợ ă ơ â (v i l n đ u tien ra m t, brand s t p trung ch y u th trớ ầ ầ ă ẽ ạ ủ ê ơ ị ườ ng bangkok, n u ê thu n l i s nhan r ng ra cac c a hang khac m t cach d dang do m ng lạ ợ ẽ ọ ử ọ ễ ạ ướ ủi c a watson la vo cùng l n) ớ

- Cocoon has a partnership with Watson, one of the leading skin care product distribution channels in the country This is an opportunity for Cocoon to expand into the Thai market

COCOON đa được bay ban 1 trong nh ng đ i lý ban l l n va co ten tu i la Watsonơ ư ạ e ớ ổ

t i VN, v y nen đi u nay cung th giup COCOON khi ti n vao th trạ ạ ê ê ê ị ườ ng Thai ph n ầ nao d dang h n.ễ ơ