Vegan cosmetic brands are increasingly present in the Vietnamese market, and Cocoon Vietnam is one of them.. According to Market segmentation, the target market for Cocoon vegan sheet ma
Introduction
Cocoon is a 100% pure cosmetic product with a clear source, safe for the skin, absolutely not tested on animals and vegan registered by The Vegan Society - a long- standing educational charity around the world, providing information and guidance on various aspects of vegan living Brand's desire is always to bring nutritious and useful cosmetics from nature to their customers So, to take a new step forward and create a new opportunity for Cocoon, the brand will launch Cocoon's vegan sheet masks The scope of this report is based on research on the skin care and face mask industry in Vietnam
Mission: “Bringing you healthy, youthful and vibrant skin from simple and close ingredients that you eat every day.”
- Coverage at more than 300 current retail stores of Cocoon
- When mentioning Cocoon, customers will immediately think of the leading number of vegan cosmetics in Vietnam
- Increase 35% brand awareness among target customers
- Revenue is expected to reach 6 billion VND in its first year of launch
- Reduce advertising and communication costs each quarter while retaining potential customers.
Situation analysis
Market Summary
2.1.1 Analysis of vegan skincare industry in Vietnam
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 consumers
Porter’s five forces model is applied to analyze the sheet masks industry’s attractiveness in Vietnam Appendix 1, it shows that the nature of competition in sheet masks industry contributes to a fast pace movement in Vietnam Hence, the sheet masks industry is considered to be attractive as the industry is expected to continually grow
First, cosmetic and skincare industry has been growing significantly along with the rapid improvement in living standards in Vietnam Consumer tastes and preferences with growing disposable income raise the level of sophistication towards premium skincare products Premium brands become more attractive, while mass skin care products decline Skincare producers have to increase their production volume to serve the demand (Euro monitor International, 2018) The key success factors (KSF) for sheet masks industry in Vietnam is provided in Appendix 2.
Macro Environments
The external forces must be considered in Vietnam's sheet mask industry PESTLE analysis is applied to analyze six factors as follows:
The current stable political, social and security environment has created good conditions for business activities of pharmaceutical and cosmetic enterprises
According to The World Bank (2021), Vietnam's economy in 2020 is less affected by the Covid-19 pandemic thanks to the Government; The Prime Minister together with the efforts of the people and business community to implement pandemic prevention But around mid-2021, the situation of the Covid-19 epidemic became increasingly complicated and difficult to control This affects people's disposable income, leading to a decrease in the consumer price index This is a disadvantage for the skin care industry as well as Cocoon Vietnam, because when disposable income is reduced, consumers will be less concerned with beauty needs
In general, Vietnamese people have the psychology of buying foreign goods not only because of the quality and design but also the brand reputation of foreign businesses, and at the same time, Vietnamese goods have not yet created trust among consumers for many reasons In the minds of young people of the 9x, 10x generation, Vietnamese cosmetics are images of poorly advertised cream mixes, and cosmetics of unknown origin widely sold on the market This has greatly affected the confidence of Vietnamese consumers This is a concept that adversely affects Cocoon, especially those directly related to skin care products
Elements of advanced and modern cosmetic production lines will be an important basis to help cosmetic manufacturing and processing units get the best quality products, bringing high efficiency to consumers Cocoon products are born in a modern, closed line, meeting the standards according to cGMP of the Ministry of Health of Vietnam
Vietnam's climate is hot and humid, with monsoon natural disasters frequently occurring This greatly affects the preservation and transportation of Cocoon's products
On the other hand, air pollution in Vietnam is quite serious and working outdoors or in front of a computer for a long time, ultraviolet rays and computer radiation are very harmful to the skin Therefore, it is very important to take care of the skin to protect the skin
Decree 93/2016/ND-CP stipulating conditions for cosmetic production This is considered an advantage for the pharmaceutical-cosmetic business in general and Cocoon in particular, when meeting the Government's regulations, consumers will trust the products produced by Cocoon
Decree 98/2020/ND-CP stipulating penalties for administrative violations in commercial activities, production and trading of counterfeit and banned goods and protection of consumers' interests This is both beneficial for consumers to avoid counterfeiting and to avoid losses to Cocoon.
Competitors
Appendix 3 details a description of Cocoon's direct competitors Cocoon's indirect competitors are mask brands that, although not vegan, still meet the skincare needs of customers 4 brand well-known competitors in the Vietnamese market are Vedette, The Face Shop, Naruko, and Mediheal.
SWOT Analysis
SWOT analysis is indicating the combination of Market strength, weakness of the company and opportunity, threat of the competitors in the competitive market of the world Details of the product's SWOT will be mentioned in Appendix 4
Table 1: SWOT analysis for Cocoon Vietnam
- Cocoon is also considerable competition compared to other celebrated and long - standing vegan cosmetic brands in
- Cocoon’s products gain cGMP standards of the Ministry of Health of Vietnam and certified “Animal test-free &
- Cocoon is the first Vietnamese cosmetic brand to be approved by Leaping Bunny
- Cruelty Free International's commitment to not testing on animals
- Dense distribution network with up to
300 sales points at Watson, Guardian,
- New brand, unfamiliar with some customer parts
- Have not advertised the product widely
Hasaki website, even e-commerce platforms, etc
- Cocoon was born in the era of increasingly advanced technology to ensure product safety and cost savings
- The 9x and 10x generations in Vietnam are increasingly leading a more active and modern lifestyle, easily accepting new things as well as new brands like
- The environmental situation is increasingly alarming, so the eco- friendly lifestyle is on the throne
- Air pollution, ultraviolet rays and computer radiation motivate people to put more effort in taking care of their skin
- The negative impact of the Covid-
19 pandemic will make some people no longer interested in skinning care
- Because of incalculable appearance of unknown origin skin care products from Vietnamese businesses, Cocoon will be equated with those brands
- Vietnam's climate is hot and humid, and monsoon disasters often occur that significantly affects the preservation and transportation of Cocoon's products.
Segmentation & positioning strategy
Market segmentation
Market segmentation could be classified by four segmentation variables; geographic, demographic, psychographic and behavioural segmentations
Table 2: Market segmentation of Cocoon’s vegan sheet mask
Young, high school kids and university students
Single, in labour force or/and newlyweds
Mature women and men with family and children
Income Limited income High disposable income
Higher disposable income and wealthy
Lifestyle Active, Modern Prefer more radiant skin and
Prefer brands that provide expert
Concerns and consciousness social problems Eco- friendly lifestyle
Highly influenced by trends, family and friends’ opinion and media younger and healthier looks
Prefer products with natural ingredient knowledge of skincare, especially in terms of restorative properties Likely to stick with used products for a period of time
Skin beauty, relaxation, more confidence
Skin maitain, relaxation, more confidence
Skin improvement, anti aging- , more confidence
Loyalty Tend to switch to cheaper products
Loyal to one or several brands that served their satisfactory and used
Loyal to one specific brand that served their satisfactory and used for over a period of time
High Seeking for the products with low prices that suitable with their incomes
Medium Seeking for premium products than mass products
Low Seeking for an optimal and high-end product.
Target Market
Market targeting strategy: Differentiated marketing This allows the company to consider and focus on a certain segment for greater efficiency According to Market segmentation, the target market for Cocoon vegan sheet masks is “Segment A” or 17 to 24-year-old females and males who have low to medium disposable income With pure Vietnamese ingredients from nature combined with a unique formula, Cocoon stands out in the market and has a lower price than competitors Especially, these people are interested in social and environmental problems That suggests that they are willing to spend money on vegan masks that will suit their pocket They can be influencers or people who are easily influenced by influencers So, their spending decisions will be heavily influenced by the mode of communication Hence, the evidence above illustrates that the target segment chosen for Cocoon's vegan sheet masks will be the best suitable and attractive for this target audience.
Positioning & Estimate market share
These days, there are several vegan cosmetics brands already existing in the Vietnam market But only Klairs, Innisfree and The body shop have produced vegan sheet masks Based on the primary data source (30 samples online survey), the position of Cocoon’s vegan sheet mask in the skincare industry will be discussed by using the perceptual map as shown in Figure 1
Figure 1: Conceptual map for vegan sheet masks in Vietnam skincare industry
According to Figure 1, we will price Cocoon's sheet masks lower than other brands to match our targeting segment Customers will benefit from purchasing high quality Cocoon’s sheet masks at reasonable price, whereas other brands offer customers with quality products but may be higher price Cocoon's vegan sheet masks will be able to compete in the industry by positioning itself as a niche market to gain a competitive advantage through its strong belief and value in the benefits of natural ingredients that do not contain any ingredients partly from animals and not tested on animals
"From familiar natural ingredients that are carefully cultivated and harvested by the hands of Vietnamese farmers, Cocoon creates and develops 100% vegan skin care products."
Marketing Mix Strategies
Product strategy
Five products level (provided in Appendix 5) will be identified to satisfy customer’s needs The core benefit of Cocoon’s sheet masks is improving human beings’ quality of skin and more beauty, and its basic product is its natural ingredient with 100% vegan skincare products With the mission: “Bringing you a healthy, youthful and vibrant skin from simple and close ingredients that you eat every day.” 4.1.2 Product’s attributes
Using natural cellulose masks as raw masks: is a line of masks made from cellulose material With the orientation to create environmentally friendly products, the cellulose
Low brand awareness High brand awareness
The body shop High price
7 material that Cocoon uses this time creates a line of Cocoon vegan sheet masks that are biodegradable when buried in the soil The product does not use parabens and
"addictive" corticosteroids, does not use mineral oil, hydrogen peroxide, triclosan, phthalate, luminescent substances 100% of products before being put on the market have to go through a process of 12-24 months of testing by tests in the laboratory (in- Vitro test) or on volunteers (in-Vivo test)
The difference from UNIQUE DESIGN: strong mask structure, 3 layers of ultra- thin, close to the face This is also an innovative design that can hold more solution than a regular sheet mask
The difference from superb AFFECT: 80-100 nm diameter biocell fiber should be easy to apply to the skin without much manipulation, comfortable movement during use
The difference from SUPPLYING SUPPLY: natural bio-nano structure should be able to retain 10 times more nutrients than conventional fiber/sheet
Differences from the old products of the enterprise:
With Cocoon's product line, this new product collection: "Sheet Mask - Cocoon" that our brand has not released to customers Adding a new product that enriches the product line of the business
Differentiate from other competitors' products:
Cocoon initially conquered customers thanks to the Vietnamese spirit in each product The brand continuously launches 100% vegan products that take advantage of available ingredients natural from Vietnam such as squash, Dak Lak coffee, Ben Tre coconut oil, Cao Bang rose, etc This has created a very "Vietnamese" Cocoon, not confused with any other brands on the market
Figure 2: Packing of Cocoon’s vegan sheet masks
Packaging: The outer packaging of the Cocoon sheet masks has a minimalist design, using images of pure Vietnamese ingredients such as green squash, rose petals, and turmeric 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
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 3,000,000 VND or US$160.42, customers will become Cocoon’s VIP own special right to get loyal 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, if it got customers’ permission, Cocoon’s staffs could get their email addresses or mobile phone number Then they can follow up on customers’ satisfaction after using Cocoon’s vegan sheet masks Especially, the company will send the products as gifts on loyal customers’ birthday.
Pricing strategies
Our goal is to maximize market share and be the product-quality leader in the vegan sheet masks market So, we choose penetration pricing strategy to produce sheet masks at a cheaper price than similar products in the market
Klairs The Body Shop Innisfree
We will choose going-rate pricing to pricing method The firm bases its price largely on competitors’ prices (Table 1) So we decide to choose the price for a new product:
This strategy helps Cocoon find new customer segments and identify potential future customers If a higher sales volume will lead to lower unit costs and higher long- run profit Besides, a low price will discourage actual and potential competition After a long time, the market accepts and gets used to the new product, Cocoon will start to raise the price to increase its position and profit, but still at a mid-range price to confirm the image orientation of Cocoon with target audiences - brand dedicated to providing the best quality vegan products at a mid-range price point
Using mixed product bundle pricing, we combine several products and sell them at a lower price than if the products were purchased individually We will use this pricing strategy for mixed combos – 5 products combos and Tet combos
Figure 3: Elastic demand of Cocoon’s vegan sheet masks
After the product launches, Cocoon uses this strategy to stimulate customers to buy the product For example, 10% off, buy one gets one free, gift cards; 5% paying by e-wallet.
Distribution strategy
Cocoon uses push strategies to promote products to increase recognition as well as help customers find Cocoon products easier Our channel strategy is to use selective distribution, marketing Cocoon's vegan sheet masks through well-known stores and online retailers During the first year, we will add channel partners until we have coverage in all Vietnam markets
4.3.1 Online shopping website & Cocoon Vietnam official website
First, some well-known cosmetics’ website such as Watson, Guardian, Beauty garden and Hasaki are perfect places to send free samples to customers It is also good to develop a phenomenon where supply is far away less than demand
Take advantage of Cocoon's distribution system at more than 300 points of sale at cosmetic distribution systems nationwide In addition, we need alliances or cooperation with agents such as beauty salons, spas and health centers Placing and selling face masks in these locations will be a good opportunity to expand the sales channel 4.3.3 E-commerce
With the unpredictable situation of the Covid-19 pandemic, it is very necessary to put sheet masks products on Shopee, Lazada, Tiki, Sendo to reach our target group of men and women from 17 to 24 years old
To promote the sheet mask products, Cocoon will use Integrated Marketing Communications (IMC) to combine a variety of promotional methods to strengthen the position of the new product and increase product awareness to the optimum level 4.3.5 Advertising
Advertising on traditional channels will mostly be a waste of money, because most messages have to be paid if businesses want to reach consumers directly on a large scale, so Cocoon chooses this type of advertising newer, focusing on social networking sites such as social networks including Facebook, Instagram and YouTube With the mission of saving costs compared to traditional methods and maintaining brand awareness and communicating messages, images, upcoming promotions in Cocoon's In this way, Cocoon can bring new products to consumers fastest and increase coverage in the market
Thanks to modern advertising campaigns, consumers can stay up to date with this year's promotions from businesses With promotions, Cocoon will focus mainly on major holidays such as Lunar New Year, National Day, Labor Day, etc or reduce prices by time frame and collect feedback from customers This will both promote new product images to customers, increase recognition, and continuously repair, improve and bring the most perfect model that customers want
The selection and evaluation of influencers and KOLs match the criteria oriented towards the future image of the new product Cocoon makes a list of influencers or KOLs that match the brand image to send Cocoon gifts and masks, and then implements a plan to help celebrities understand exactly the features and benefits Benefits and great advantages of Cocoon masks Using the popularity of KOLs or Influencers, turn them into "living proof", creating a viral effect, helping to increase customer interest Next, Cocoon will combine with e-commerce channels such as Shopee, Hasaki, etc to have them run promotions according to their plan This will increase coverage throughout the branches that offer Cocoon products
In addition, Cocoon intends to sponsor gifts for participants of some special events such as webinars With the goal of attracting people with skin care and aesthetic needs through events, seminars, etc
Use email, phone, direct messaging or social networking platforms to communicate directly with potential customers Making a list of potential customers to reach them easily is a way for Cocoon to save cost on direct marketing.
Action plan
Figure 4: Timeline summarizing marketing activities 2022
Activity Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec
Run post ads on social networks
Run ads on e- commerce platforms
Cocoon's sheet masks - draw to receive attractive gifts"
Target sales at each branch
Sponsor a gift for an event
FIRST QUARTER: Apply attractive promotions aiming to appear more on e- commerce platforms, social networks to increase awareness for Cocoon's new sheet mask products and spread all over the country
January: We launch a communication campaign to promote the process of introducing products (about uses, features, advantages, ) to customers through modern communication channels such as Facebook, Instagram, YouTube, etc by run advertising with high price on the newsfeed of potential customers Start officially launched on January 6, 2022 Applying the promotion: "Buy 3 masks get 1", "Bill from 200,000 -get
1 mask immediately" Besides, close to Tet holiday, there will be a promotion for mixed combos such as buying 5 paper masks for 135,000 VND (save 20,000 VND) February: We run promotions at more than 300 stores selling exclusive products of Cocoon and reputable e-commerce: Lazada, Shopee, Hasaki, Beauty Garden for e- commerce platforms to push Cocoon sheet mask products to the top of websites, on fan pages of e-commerce platforms Combine with promotions to attract customers: Hourly promotion for sheet mask products (flash sale), free shipping for bills over 5 masks
March: Open give away program to give combo "Dak Lak coffee (scrub) + combo of 5 sheet masks" This giveaway will take place for 1 week, rules: participants will like Cocoon's fan page, tag 3 friends and comment 3 lucky numbers
SECOND QUARTER: Building customer's trust in Cocoon brand and increase brand awareness of new products up to 35% among target customers
April: We implement a plan to select 3 KOLs, the company will send 3 mask lines with the most detailed information about new products for KOLs to review on their personal accounts such as Facebook, Instagram and YouTube The KOLs that the company chooses are those with expertise in the beauty industry: Trinh Pham, Goc cua
Ru, Quach Anh Makeup Artist Besides, on Cocoon's fanpage, posts about Cocoon sheet masks, review videos of KOLs by asking Facebook and Instagram to run ads for posts but with less time and cost than the first quarter (until end of the third quarter) Continue to run ads on e-commerce platforms
May: Using the effect of Micro-influencers to increase the authenticity of the product's effectiveness because most of the micro-influencers' gadgets are self- purchased and self-determined, they create a lot of trust great for followers when they share about a certain product We will use 20 influencers with low to medium popularity to post and share about their experience using Cocoon's new sheet mask product on their personal pages Continue to run ads on e-commerce platforms
June: Implement the program "Review Cocoon sheet masks - draw to receive attractive gifts" on the occasion of environment day Rules: customers will post to share their experience of using Cocoon, the effects that this sheet mask brings Besides, also hashtag #Cocoon #MyPhamThuanChay #vegansheetmasks and tag Cocoon's official fan page on Facebook Each account can only review 1 time and Cocoon will send 1 gift by drawing: 10% voucher for bills from 100,000, free coffee balm for bills from 200,000, free 1 mask for bills from 300,000 Besides, also continue to run ads on e- commerce platforms
THIRD QUARTER: Reduce advertising and communication costs from the third quarter, increase product sales
July: We apply a plan with the target for branches providing exclusive Cocoon products: 1 month selling more than 200 masks In order to promote the sales efforts of the stores, speed up the circulation of goods Stores that reach the target will be offered a reasonable price by Cocoon (with a higher discount than usual) depending on the quantity that each branch imports, the more quantity, the lower the import price will be September: We plan to sponsor some events with a scale of 100 people with the theme of environmental protection to increase awareness with the public After the end of the attendance period, Cocoon will give away a mask to the attendees
FOURTH QUARTER: Continue to accelerate the sales process at the end of the year, the total revenue is expected to reach more than 6 billion and sell more than 200,000 products in the past 4 quarters
December: The program "Giving gifts at the end of the year" on Christmas day Applied on e-commerce sites on 4 days, get 1 free environmental protection tote bag for the purchase of 7 sheet masks.
Financials
Total first-year sales revenue for the Cocoon’s vegan sheet masks is projected at 6,5 billion Break-even calculations indicate that Cocoon's vegan sheet mask will become profitable after the sales volume exceeds 200,000 during the product’s first year Our break - even analysis assumes per-unit retailer revenue of 31,000 VND per unit, variable cost of 15,000 VND per unit, and estimated first-year fixed costs of 3.2 billion VND With these assumptions, the break-even calculation is:
Controls
In order to find out whether the marketing strategies we provided were effective, we need to do some market research and get some feedback from the consumers After launching 2 months, we will conduct a survey of customers We determined to use a questionnaire and personal interviews This is aiming to know that whether consumers are satisfied with our products and what needs to be done to make progress and to check our brand awareness in the market Secondly, we are going to set up an internal system to supervise the fluctuation of the sales and most importantly to find out the correlation among the price, distribution, promotion and sales Our team would collect relevant data and those data would be reported weekly and send to the company headquarter Specifically, outcomes before and after some strategies are implemented would be compared In that case, we can figure out which distribution channel is more effective, how much profit margins and market share we achieve and how much money should we invest to gain the best performance.
Conclusion
Our marketing plan focuses on launch Cocoon's vegan sheet mask to enter the skincare market of Vietnam We choose target audience 17 to 24-year-old males and females In order to accomplish the marketing and finance objectives, we came up with several marketing strategies For example, advertisements will be displayed on social media, shopping websites, especially cosmetic websites that are frequently visited by females We concentrate on the implementation of communication in the two first months to the product to achieve a buzz We will focus on e-commerce platforms and retail cosmetic stores Loyal customers will have special discounts and services There are particular promotions on Vietnam festivals and special days (1.1, 2.2, 3.3, etc.) Those specific strategies are implemented closely monitor quality and customer service satisfaction This will enable us to react very quickly in correcting any problems that may occur Other early warning signals that will be monitored for signs of deviation from the plan include monthly sales (by segment and channel) and monthly expenses Through effective monitoring strategy, the objectives of our marketing plan gaining more profit margins a
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Porter’s five forces c
- The market size of Vietnam's retailers is the highest compared to other countries in the ASEAN region, showing the growing economy and demand of customers and the demand for many new products
- The community is harsher and harsher in making purchasing decisions, condemning products of unsafe origin, environmental pollution, testing on animals
- It is not too difficult for new businesses to access necessary inputs in the production
- Increasing competition, availability and convenience of products have given buyers in this industry high power
- The variety of skin care products from home and abroad
- Customers are in a position to influence the price of the product which makes it difficult to maintain the long-term profitability of the business
- More and more distributors online
- There are no major differences in industry inputs
- Large supply in the industry
- The presence of products that substitute inputs and the impact on costs is not high
- The demand for the number of facial services at spas and beauty salons is increasing, but the price is high
- The level of competition among competitors in the industry is high
Key success factors d
The key success factors (KSF) for the sheet masks industry in Vietnam involve the following aspects
Positioning and relationship with the consumer
Sheet masks producers require consistently delivering good products and services in order to create and maintain good relationships with customers and thereby gaining consumer preferences Vietnam consumers generally look for high-quality products that fit their needs Thus it is important that brands to be well positioned in the consumer’s mind
Three major distribution channels for sheet masks brands include luxury department stores, spas and online distributions Shopee and Lazada are major websites that provide multiproduct, especially skincare and cosmetic products
Advertising also play important role in KSF Advertising on billboards (eg magazine) is always an effective and useful communications tool Also, advertising on broadcasting media and television, press radio and outdoor event are also beneficial
Social Media The most popular social media such as Facebook and Instagram are used for sharing information Most brands use this distribution channel to communicate with their customers
Customer care plays a very important role in a consumer- oriented marketing strategy In the field of skincare and beauty, the level of competition between enterprises is becoming increasingly fierce Business must understand the great power of customers which to create value and sustainable development for brand e
Competitors analysis in Vietnam vegan sheet masks e
Klairs The Body Shop Innisfree
- The main ingredient is extracted from natural ingredients with cleansing and antibacterial factors to help eliminate acne-causing bacteria
- Developing products according to the trend of sustainability, environmental protection
- Developing products according to the trend of sustainability, environmental protection
- Diverse products, solving many skin care problems for customers
- Empowering women, more than 72% of their employees and franchisees are women
- The price is a bit high compared to students
- Supply of raw materials - unstable materials
- New law banning animal tested products could increase competition by marketing this policy
- High selling price due to high production cost f
SWOT for Cocoon’s vegan sheet masks f
- Cocoon's sheet masks make use of input natural materials, technology and characteristics of jar masks jars released previous That make the cost is lower than other brands Therefore, Cocoon ensure revenue and profit of the unit will increase rapidly in a short time
- Serve many different audiences: both men and women can use Simultaneously, types of sheet mask meet different needs for each individual skin type
- Gain cGMP standards of the Ministry of
Health of Vietnam and certified “Animal test-free & Vegan” by PETA
- Sheet masks with convenient usage and faster and more timely results than jars masks
- Company is not as experienced as competitors who have been releasing sheet masks for a long time
- Lack of brand awareness - No reputation in the sheet masks industry like other brands (Klairs, Innisfree, The Body Shop)
- Air pollution, motivate people to put more effort in taking care of their skin by cleansing sheet masks
- Busy social life makes people need a quick skin care product like sheet masks
- The environmental situation is increasingly alarming that motive people use vegan sheet masks
- The Covid-19 pandemic affects input prices, causing difficulties for means of transport and preservation product, etc Besides, the decrease in disposable income of consumers leads to their lack of interest in skin care needs g
Five products level g
Figure 5: Image of Tet combo packaging for Cocoon s vegan sheet masks ’ h
Financial paper h
Estimated per-unit variable cost
Depreciation 400,000,000 Research 300,000,000 Packaging design 25,000,000 Other fixed costs 675,000,000
The break-even analysis indicates that 6.2 billion VND will be required in sales revenue to reach the break-even point:
Average per-unit variable cost 15,000
Ex pense budget i Appendix 8: Survey questions and results j Appendix 9 : Member’s group work assessment n Appendix 10: Plagiarism Check Report o
Figure 6 Budget for promotion activities of the first year
Cocoon sheet masks - draw to receive attractive gifts”
Target to sell 200 units/mask at each branch
"Year-end gift giving" program on e- commerce
Appendix 8: Survey questions and results k l m n
Appendix 9: Member’s group work assessment
4 Members absent/Reason: No member is absent
5 Chairperson of the meeting (Group leader): Nguyen Thi Lan Nhi
6 Secretary of the meeting: Do Ngoc Thanh Ngan
7 The evaluation results are agreed and summarized as follows:
STT Name Student code The degree of completion of work (%)
Meeting ends at 10:00 a.m on the same day
Do Ngoc Thanh Ngan Nguyen Thi Lan Nhi