Tiểu luận quản trị marketing

THE MINISTRY OF FINANCE
UNIVERSITY OF FINANCE – MARKETING
FACULTY OF MARKETING

----------

Class: CLC_19DMA04
Course code: 2021702006004

FINAL REPORT
MARKETING PLAN FOR COCOON’S
VEGAN SHEET MASKS

Major: MARKETING
Specialized: MARKETING MANAGEMENT

Ho Chi Minh city, July 3rd 2021


THE MINISTRY OF FINANCE
UNIVERSITY OF FINANCE – MARKETING
FACULTY OF MARKETING

----------

Class: CLC_19DMA04
Course code: 2021702006004

FINAL REPORT
MARKETING PLAN FOR COCOON’S
VEGAN SHEET MASKS

Students group:

Nguyen Thi Lan Nhi - 1921005588
Do Ngoc Thanh Ngan - 1921005543
Nguyen Thuy Nhu Khanh - 1921005461

Ho Chi Minh city, July 3rd 2021


CONTENTS
List of Figures ................................................................................................................ iii
List of Tables ................................................................................................................. iii
Executive Summary ........................................................................................................iv
1. Introduction .................................................................................................................1
2. Situation analysis .........................................................................................................1
2.1. Market Summary ......................................................................................................1
2.1.1. Analysis of vegan skincare industry in Vietnam ...................................................1
2.1.2. Industry trends .......................................................................................................2
2.2. Macro Environments ................................................................................................ 2
2.3. Competitors ..............................................................................................................3
2.4. SWOT Analysis ........................................................................................................3
3. Segmentation & positioning strategy ..........................................................................4
3.1. Market segmentation ................................................................................................ 4
3.2. Target Market ...........................................................................................................5
3.3. Positioning & Estimate market share .......................................................................5
4. Marketing Mix Strategies ............................................................................................6
4.1. Product strategy ........................................................................................................6
4.1.1. Five product levels ................................................................................................ 6
4.1.2. Product’s attributes ................................................................................................ 6

4.1.3. Value propositions product....................................................................................7
4.1.4. Packaging product .................................................................................................7
4.1.5. Product support services ........................................................................................8
4.2. Pricing strategies ......................................................................................................8
4.2.1. Penetration pricing.................................................................................................8
4.2.2. Bundle Pricing .......................................................................................................9
4.2.3. Promotional Pricing ............................................................................................... 9
4.3. Distribution strategy .................................................................................................9
4.3.1. Online shopping website & Cocoon Vietnam official website .............................9
i


4.3.2. Agency ...................................................................................................................9
4.3.3. E-commerce ...........................................................................................................9
4.3.4. Marketing communications strategy ...................................................................10
4.3.5. Advertising ..........................................................................................................10
4.3.6. Sales promotion ...................................................................................................10
4.3.7. Public Relations ...................................................................................................10
4.3.8. Direct marketing ..................................................................................................10
5. Action plan ................................................................................................................10
6. Financials ...................................................................................................................13
7. Controls .....................................................................................................................13
8. Conclusion .................................................................................................................13
References ....................................................................................................................... a
Appendix ......................................................................................................................... c
Appendix 1: Porter’s five forces...................................................................................... c
Appendix 2: Key success factors .....................................................................................d
Appendix 3: Competitors analysis in Vietnam vegan sheet masks ................................. e
Appendix 4: SWOT for Cocoon’s vegan sheet masks .................................................... f
Appendix 5: Five products level......................................................................................g

Appendix 6: Financial paper ...........................................................................................h
Cost Forecast ...................................................................................................................h
Break-even analysis .........................................................................................................h
Expected profit ................................................................................................................h
Appendix 7: Expense budget ............................................................................................i
Appendix 8: Survey questions and results........................................................................j
Appendix 9: Member’s group work assessment .............................................................n
Appendix 10: Plagiarism Check Report ..........................................................................o

ii


LIST OF FIGURES
Figure 1: Conceptual map for vegan sheet masks in Vietnam skincare industry ...........6
Figure 2: Packing of Cocoon’s vegan sheet masks .........................................................7
Figure 3: Elastic demand of Cocoon’s vegan sheet masks .............................................9
Figure 4: Timeline summarizing marketing activities 2022 .........................................10
Figure 5: Budget for promotion activities of the first year ...............................................i

LIST OF TABLES
Table 1: SWOT analysis for Cocoon Vietnam ................................................................ 3
Table 2: Market segmentation of Cocoon’s vegan sheet mask .......................................4
Table 3: Analyze competitors price .................................................................................8

iii


EXECUTIVE SUMMARY
The purpose of this report is to provide a marketing plan for the launch of Cocoon's
vegan sheet masks in the Vietnamese market. We implemented an online survey with

30 samples to make the plan more objective. Vegan cosmetic brands are increasingly
present in the Vietnamese market, and Cocoon Vietnam is one of them. Cocoon is the
first Vietnamese cosmetic brand approved by Leaping Bunny - Cruelty Free
International to commit to not testing on animals. The SWOT analysis shows that
Cocoon is also a formidable competitor compared to the long-standing and famous
vegan cosmetic brands in the Vietnamese market. Next, we can compete effectively with
other sheet masks because we save on raw materials and research on essence by
inheriting the formula from the jar masks that the company has launched before. But in
terms of sheet mask production, Cocoon is still quite young compared to other brands
because this is our first time launching this product. Besides, because of the impact of
the COVID-19 pandemic, it will cause difficulties in the product production process, as
well as the pandemic making people not interested in beauty needs. In terms of market
segmentation, 17-24 years old women and men are selected for our targeting market, to
take advantage of young people's growing interest in environmental protection
lifestyles. This target group has average disposable income and their lifestyle and
behavior that they are increasingly concerned about social issues such as the state of the
environment. According to the positioning map, Cocoon will position itself at a lower
price than other brands to gain a competitive advantage as well as match the company's
target segment. Marketing goal: 35% of brand awareness will be achieved. Gross Profit
Margin 2% will be achieved in 1-year period. The financial goals are to achieve the
company's first year revenue of 6 billion VND, keep the break-even in the first year and
increase the profit margin to 10% by the beginning of the second year. To achieve the
desired, strategies include product & brand strategy, service, pricing, distribution and
communication. To achieve the desired, strategies including product and brand strategy,
service, pricing, distribution and communication are implemented and controlled strictly
and correlated with each other.

iv

1. 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 longstanding 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.”
Marketing Objectives:
- 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.
Financial Objectives
- 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.

2. SITUATION ANALYSIS
2.1. Market Summary
2.1.1. Analysis of vegan skincare industry in Vietnam
Industry revenue and growth
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.
Industry Attractiveness
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.

1


2.1.2. Industry trends
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.

2.2. Macro Environments
The external forces must be considered in Vietnam's sheet mask industry PESTLE
analysis is applied to analyze six factors as follows:
Political Analysis
The current stable political, social and security environment has created good
conditions for business activities of pharmaceutical and cosmetic enterprises.
Economic Analysis
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.
Social Analysis
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.
Technological Analysis
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.
Environmental Analysis
Vietnam's climate is hot and humid, with monsoon natural disasters frequently
occurring. This greatly affects the preservation and transportation of Cocoon's products.
2


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.
Legal Analysis

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.

2.3. 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.

2.4. 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
Strengths

Weaknesses

- Cocoon is also considerable competition - New brand, unfamiliar with some
compared to other celebrated and long customer parts.
standing vegan cosmetic brands in
- Have not advertised the product
Vietnam market.
widely.

- Cocoon’s products gain cGMP standards
of the Ministry of Health of Vietnam
and certified “Animal test-free &
Vegan” by PETA.
- 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,

3


Hasaki website, even e-commerce
platforms, etc.
Opportunities

Threats

- 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
Cocoon.
- The environmental situation is
increasingly alarming, so the ecofriendly 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 Covid19 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.

3. SEGMENTATION & POSITIONING STRATEGY
3.1. 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
Segmentation

Segment A

Segment B

Segment C

Demographic
Age

17-24

25-35

Gender
Life-Cycle
stage
Income

Young, high school
kids and university
students
Limited income

Female & male
Single, in labour
force or/and
newlyweds
High disposable
income

36-65
Mature women and
men with family and

children
Higher disposable
income and wealthy

Geographic
Location

Vietnam
Psychographic

Lifestyle

Active, Modern.

Prefer more
radiant skin and
4

Prefer brands that
provide expert


Concerns and
consciousness social
problems. Ecofriendly 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.

Behavioural
Benefit
sought

Loyalty

Price
sensitivity

Skin beauty,
relaxation, more
confidence.

Skin maitain,
relaxation, more
confidence.
Loyal to one or

several brands
Tend to switch to
that served their
cheaper products.
satisfactory and
used.
High. Seeking for the Medium. Seeking
products with low
for premium
prices that suitable
products than
with their incomes.
mass products.

Skin improvement,
anti-aging, more
confidence.
Loyal to one specific
brand that served their
satisfactory and used
for over a period of
time.
Low. Seeking for an
optimal and high-end
product.

3.2. 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.

3.3. 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.
5


High price
The body
shop
Klairs

Low brand
awareness

Innisfree

High brand

awareness
Cocoon

Low price

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.
Positioning Statement
"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."

4. MARKETING MIX STRATEGIES
Cocoon aims to focus on both women and men's beauty and improvement of their
skin. In the marketing strategies, Cocoon’s vegan sheet masks that will enter vegan
skincare market in Vietnam will be analyzed.

4.1. Product strategy
4.1.1. Five product levels
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
Product quality
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
6


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 (inVitro test) or on volunteers (in-Vivo test).
Product Features
The difference from UNIQUE DESIGN: strong mask structure, 3 layers of ultrathin, 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.

4.1.3. Value propositions product
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.

4.1.4. Packaging product

Figure 2: Packing of Cocoon’s vegan sheet masks
7


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.

4.1.5. Product support services
Fresh customers' service
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' 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.

4.2. 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.

4.2.1. Penetration pricing
Table 3: Analyze competitors price
Klairs
62,000 VND

The Body Shop
139,000 VND

Innisfree
33,000 VND

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:
Retail price: 31,000 VND/ masks.
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 longrun 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.
8

4.2.2. Bundle Pricing
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.

4.2.3. Promotional Pricing

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.

4.3. 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.

4.3.2. Agency
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.

9


4.3.4. Marketing communications strategy
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.

4.3.6. Sales promotion
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.

4.3.7. Public Relations
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.

4.3.8. Direct marketing
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.

5. ACTION PLAN
Figure 4: Timeline summarizing marketing activities 2022

10


Time
Activity

Jan

Feb

Mar

Apr

May

June

July

Aug

Sep

Oct

Nov

Dec

Run post ads on
social networks
Product launch
Promotions
Run ads on ecommerce
platforms

Give away
KOLs, Micro-

influencers
"Review
Cocoon's sheet
masks - draw to
receive attractive
gifts"
Target sales at
each branch
Sponsor a gift for
an event
"Year-end gift
giving"

FIRST QUARTER: Apply attractive promotions aiming to appear more on ecommerce 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 ecommerce 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.
11

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 selfpurchased 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 ecommerce 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.
12


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.

6. 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:
3 200 000 000
= 200 000 𝑢𝑛𝑖𝑡𝑠
31 000 − 15 000

7. 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.

8. 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.
13

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b


APPENDIX
Appendix 1: Porter’s five forces
Forces

Threat of New
Entrants

Bargaining
Power of
Buyers

Bargaining
Power of
Suppliers

Threat of
Substitutes
Competitive
Rivalries

Evidences
- 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.
- Consumers easily switch brands .

c

Level

High

High

Low

Moderate

High


Appendix 2: Key success factors
The key success factors (KSF) for the sheet masks industry in Vietnam involve the
following aspects.
Key success
factors

Descriptions
Sheet masks producers require consistently delivering good

Positioning and

relationship with
the consumer

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

Distribution
channel

Advertising

Social Media

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.
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 consumeroriented marketing strategy. In the field of skincare and beauty,

Customer

satisfaction

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.

d


Appendix 3: Competitors analysis in Vietnam vegan sheet masks

Price

Klairs

The Body Shop

Innisfree

62,000 VND

139,000 VND

33,000 VND

Franchising

Strategy

Strengths

Weaknesses

- 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.

- The price is a bit
high compared to
students.

- Expensive.

- Diverse products,
solving many skin care
problems for
customers.

- Low average
price.
- Use ecofriendly
campaign.
- Product
contains
organic
ingredients.

- Empowering women,
more than 72% of their - Recycle
employees and
containers.
franchisees are
women.
- Supply of raw
materials - unstable
materials.
- New law banning
animal tested products
could increase
competition by
marketing this policy.

e

- High selling
price due to
high
production
cost.


Appendix 4: SWOT for Cocoon’s vegan sheet masks
Strengths

Weaknesses

- 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.

- 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).

- 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.
Opportunities

Threats

- Air pollution, motivate people to put - The Covid-19 pandemic affects input
more effort in taking care of their skin by prices, causing difficulties for means of
cleansing sheet masks.
transport and preservation product, etc.
- Busy social life makes people need a Besides, the decrease in disposable
quick skin care product like sheet masks. income of consumers leads to their lack
of interest in skin care needs.
- The environmental situation is
increasingly alarming that motive people
use vegan sheet masks.

f