group assignment mkt101 principle of marketing the dak lak coffee face cleanse

Executive summary:The Dak Lak Coffee Face Cleanser is a unique skincare product offered by Cocoon company, leveraging the rich and natural properties of Dak Lak coffee.. Company’s backgr

MKT101-Principle of Marketing

Prepare by: Group 5

Trần Tấn Phước SS180893Lương Tâm Như SS180183Trần Đoàn Gia Bảo SS180613Nguyễn Ngọc Thiên Trân SS170529Trần Nhựt Tân SS180743Nguyễn Trường Giang SS180150

Instructor: Nguyễn Tú Thảo

INDEXI Executive Summary

a Company’s Backgroundb Introduction about the Productc The purpose of the marketing plan

Situational Analysis

a Company Analysis: SWOT Analysisb Marketing Environment Analysisc Customer Analysis

I Executive summary:

The Dak Lak Coffee Face Cleanser is a unique skincare product offered by Cocoon company, leveraging the rich and natural properties of Dak Lak coffee This executive summary provides an overview of the product and its key marketing strategies The Dak Lak Coffee Cleanser presents a compelling skincare solution that combines the excellence of Dak Lak coffee with natural ingredients to deliver superior cleansing and nourishing properties With a focus on sustainability, quality, and affordability, we are confident that our product will capture the attention and loyalty of our target.

II Background

1 Company’s background

The Cocoon Original Vietnam is a natural vegan Vietnamese cosmetic brand Cocoon belongs to Nature Story Cosmetic Co., Ltd – Vietnam 6 years ago, Cocoon officially launched to users with two main products: squash extract and pomelo peel extract, which specialises in treating acne and fading dark spots On 9/2020, Cocoon was certified “not tested on animals and vegan” by the global animal welfare organisation PETA In 11/2020, Cocoon officially became the first Vietnamese brand to be approved by The Leaping Bunny program of Cruelty-Free International – one of the most famous programs to ensure the production process is not tested on animals, in its commitment to not testing on animals.

2 Introduction about the Product/Service

Vietnam is the second country in the world in terms of coffee exports, Cocoon is proud to beable to take advantage of this endemic source of ingredients to bring you quality products with ingredients from Vietnam.Cocoon has researched caffeine and antioxidants found in coffee beans to quickly improve dull skin, making skin firm, smooth, full of fresh energy right after the first use.Dak Lak coffee face wash gel with main ingredients Coffee oil, caffeine & amino acids with mild sulfate-free formula, Dak Lak coffee face wash gel has the

ability to effectively clean without drying the skin, Leaves skin feeling refreshed with a fresh, clean and energized look to start the day Products suitable for all skin types.

3 The purpose of the marketing plan

The purpose of the marketing plan of Dak Lak coffee face wash gel is to promote and sell the product to the market effectively The purpose of the plan is to create awareness, interest,and ultimately, drive the buying decision of the target audience By carrying out strategic marketing activities, the aim is to position Dak Lak coffee face wash gel as a unique and attractive product, highlighting the product's benefits and features, creating a way to differentiate themselves from the competition and ultimately increase revenue and market share It includes strategies to reach the target market through different marketing channels and platforms, establish a strong brand presence and build customer loyalty and trust The marketing plan should be designed to effectively communicate the value proposition of Dak Lak coffee face wash to consumers and convince them to choose and recommend the product over other alternatives.

III Situational Analysis

1 Company Analysis: SWOT Analysisa S_STRENGHT:

The many qualities of cocoon are among its benefits One of these advantages is its capacity to offer organic cosmetics.The country's cosmetics business is expanding Products with natural substances are more frequently used than those with dangerous compounds They also value the preservation of all living things.Additionally, the Vietnamese government promotes the usage of regional goods E-commerce companies are growing in popularity, and through social media and other platforms, firms can easily connect with their target audiences.

b W_ WEAKNESSES:

The cosmetics market is currently becoming more competitive since it considers things like sourcing, price, and promotional techniques In order to maintain its lead, Cocoon must constantly innovate and create efficient strategies.Cocoon has further difficulties when well-known multinational cosmetics companies enter the Vietnamese market People's living standards are improving in this age of modern technology, raising customer expectations for product value and quality Vietnamese customers do, nevertheless, continue to choose imported goods.Customers have gotten into the habit of using digital platforms for their buying requirements since the Covid epidemic As a result, companies must make investments to increase their promotional efforts if they want to quickly reach their target audience with their products.

c O_OPPORTUNITIES:

Cocoon is a product line in the cosmetics industry that stands apart due to the fact that it is made entirely of plant-based substances and does not contain any components from animals.Additionally, Cocoon's product lines have extremely reasonable costs that are suited for Vietnamese consumers with ordinary or low incomes Nevertheless, the cosmetics' quality isin accordance with global norms.This is regarded as one of this cosmetic company's key advantages Cocoon goods will be easily picked by a big number of consumers since they have a target audience in the middle sector that includes students, office employees, and laborers The items are made entirely from locally accessible, pure Vietnamese ingredients Pennywort, coffee, and winter melon are a few well-known examples This makes it easier for Cocoon to have control over the source of its raw resources.

d T_ THREATS:

With both well-known and up-and-coming companies in the skincare business, Cocoon confronts intense competition The level of industry competition makes it difficult for

Cocoon to stand out from the competition and build a significant market presence To differentiate itself from rivals, it must consistently innovate, provide distinctive value propositions, and express its brand identity well.Another difficulty faced by popular companies like Cocoon is counterfeiting Due to the brand's success, imitators may try to produce and sell phoney goods, which might hurt the brand's reputation Cocoon has to vigorously enforce its intellectual property rights protections, put in place anti-counterfeitingsafeguards, and inform customers about how to spot authentic Cocoon items Cocoon may preserve the confidence and loyalty of its customers by maintaining the integrity of its brand.

e MARKET SHARE:

Five years ago, Cocoon officially launched its products to users with two main products: pumpkin seed oil and pomelo peel oil, specialised in treating acne and fading dark spots After three years of research and product improvement, Cocoon officially returned and successfully won over Vietnamese consumers with a new professional and meticulous appearance, along with superior quality that is no less than famous foreign brands This Vietnamese vegan cosmetics brand has been experiencing strong revenue growth, averaging 65% per year As of 2019, the company earned 1.037 trillion VND in revenue from the Vietnamese market Unlike many other domestic cosmetic brands, Cocoon Vietnam has chosen a niche market and is also a pioneer in using vegan ingredients and not conducting animal testing The brand aims to achieve 10 billion USD in sales by the end of 2021.Currently, the best-selling product lines at Cocoon are skincare products, mainly focused on cleansing products such as makeup removers, facial cleansers, and moisturisers, as well as face masks Skincare products account for over 60% of the total output at Cocoon Among them, mini-sized products and trial sizes are consumed more due to their economic value.

2 Marketing environment analysis

a Economic factors:

The overall economic situation plays an important role for Cocoon as it can impact customerpurchasing power and consumption When the economy is growing and incomes are increasing, it can create growth opportunities for Cocoon.

b Political factors:

Policies and regulations related to the cosmetics and skincare industry can affect Cocoon For example, regulations on ingredients, testing, and product safety can impose requirements and barriers for Cocoon.

c Social factors:

There is a shift in consumer trends towards health and environmental concerns Cocoon can leverage this trend by offering organic, natural, skin-friendly, and environmentally-friendly products.In addition, Cocoon can meet customer demands for diversity and equality by providing products suitable for different skin types, ethnic groups, and genders.

d Technological factors:

Cocoon can leverage advanced technology to enhance product quality, manufacturing processes, and customer access through the development of mobile applications, online shopping experiences, and the use of artificial intelligence in research and development.

f Legal factors:

Cocoon must comply with legal regulations related to cosmetic products, such as labelling, product information, and advertising Additionally, intellectual property rights and copyrights also need to be respected.

3 Customer analysis

a COCOON’S TARGET CUSTOMERS:

Demographic: Cocoon Original Vietnam targets both young female and male customers

who are interested in skincare and beauty products, with a focus on treating acne and oily skin The brand's potential demographic is primarily composed of young adults and teenagers aged between 15 to 30 years old, as they tend to experience more issues with skin problems Cocoon Original Vietnam specifically targets females, as women tend to prioritiseskincare and beauty products more than men Potential customers for Cocoon Original Vietnam may lead an active lifestyle, value self-care, and be interested in trying new beauty and skincare products to improve their skin health Although the brand positions itself as high-end, its products may still be accessible to those who value premium skincare Beside, Cocoon's products are aimed at customers who are students or people with average incomes and above.

Behavioral: Cocoon Original Vietnam's customers are primarily young adults interested in

beach and water-related activities They value the brand's high-quality products, reasonable prices, and excellent customer service The brand has a loyal customer base with a strong online presence.

Geography: Cocoon has various sales agencies located in different areas such as Ho Chi

Minh City, Ha Noi, Da Nang Also, their products are available at over 300 cosmetic distribution systems It helps people to find and purchase Cocoon products easier no matter where they live.Cocoon takes pride in showcasing Vietnam's finest materials and evoking a

sense of nostalgia among its customers Each product is crafted from raw, locally-sourced ingredients found in regions such as Thanh Hoa, Hoa Binh, Dak Lak,… presenting a unique reflection of Vietnam's natural beauty Cocoon's popularity has grown among Vietnamese youth, who appreciate the brand's consideration of local weather conditions and common skin concerns The suitability of Cocoon products for sensitive skin and tropical monsoon climates has earned it immense recognition in the Vietnamese market.

Psychographic: Cocoon's original Vietnam customers are a unique group of individuals

who share several key characteristics Firstly, they are nostalgic and appreciate brands that reflect their cultural identity, evoking feelings of pride in supporting local businesses Additionally, they prioritize natural and sustainable products, valuing eco-friendly practices.Their health-consciousness extends beyond just skincare, as they may seek out other wellness-related products such as healthy foods, exercise equipment, and supplements As trend-setters, they enjoy sharing their experiences with others on social media Finally, their quality-focused mindset leads them to invest in higher-priced products if they believe they are getting better value for their money Overall, Cocoon Original Vietnam's customers represent a diverse group of individuals who value culture, nature, health, innovation, and quality.

b PURCHASING BEHAVIOUR:

Cultural: Cocoon Original Vietnam's customers' purchasing behavior is strongly influenced

by their cultural identity They prefer to purchase locally sourced products with traditional elements, and may use these products in ways that reflect Vietnamese beauty rituals.

Social: Customers who value environmentally-friendly practices prioritise shopping for

eco-friendly products, and Cocoon's use of raw, locally-sourced ingredients appeals to them.

Additionally, the brand's quality-focused mindset influences customers to invest in priced products if they believe they are getting better quality and value for their money These customers prioritise quality over quantity and see the long-term benefits of investing in high-quality products that align with their values.

higher-Personal: In terms of occupation, a person with average income or above can easily buy

cocoon products In terms of age, because the product is accessible to teenagers, from 15 years old and adults from 30 years old, young people can simply buy products on the Internet.

Psychological: Part of psychology is the driving force, because the price of cocoon products

is very accessible If you have skin problems, you will buy skin care products and at this time, the demand to buy Cocoon products will become the driving force The second problem is the review part, customers will trust to buy from cocoon's products if they see thepositive reviews of the product.

4 Competitor Analysis:

L'Oréal Paris: L’Oréal has chosen a unique strategy: Universalization It means

globalization that captures, understands and respects differences Differences in desires, needs and traditions To offer tailor-made beauty, and meet the aspirations of consumers in every part of the world L’Oréal is driven by this vision of the world For L’Oréal, universalization is about having a truly global presence through a unique organization We are strategically concentrated yet operationally decentralized Local teams are empowered They ensure that in every country we are close and relevant to our consumers That means also creating and producing cosmetics at a local level, so that our formulations are perfectly adapted to the needs of our consumers, wherever they live To achieve that, we have developed a worldwide network of Research & Innovation and marketing hubs, one for eachof our strategic markets: the United States, Japan, Brazil, China, India and South Africa To

complement their work in development, L’Oréal also has a global industrial presence, so that these innovations can be brought to market quickly and efficiently.

Lancome: extraordinary (Its promotion is mainly focused on iBy controlling a range of

brands, from low end to high quality, and offering cosmetic products to men, women, and children around the world, Lancome has effectively positioned itself as a company that has aproduct for everyone's products For this, the company creates fascinating and high-end advertisements And, of course, you can´t miss the quality sample to enhance the brand’s value).

The company has been able to make a combination of its marketing strategy through the factors that we will mention below:

- Exclusive customer base

- Customers with the premium category- Product promotion

- Target market- Wide presence

- Offline and online strategy

IV Marketing Strategy

1 Segmentation and targeting strategya Segmentation:

Geography: With the launch of the Coffee Cleansing Gel product line, Cocoon will continue to

cover Vietnam - Cocoon's largest market and the place where they are produced Products have "covered" MORE than 300 points of sale at leading cosmetic distribution systems natiowide and on Online or official websites in Vietnam Distributors will benefit from preferential policies such as high discounts, support for marketing, sales and PR, and convenient product return and exchange It