NEW PRODUCT CREATION
Idea Generation
In today's world, pets are cherished not only for their companionship but also as integral members of the family Due to constraints in sanitary conditions and limited space, many pet owners find it challenging to provide a traditional burial for their beloved animals As a compassionate alternative, the Pet "Saybye" service offers a thoughtful cremation process, honoring the significant role pets play in our lives and providing a loving farewell to these cherished companions.
- Product: Mask with UV Protection Layer
This article discusses a mask designed with a basic antibacterial layer sewn into an outer layer that offers partial resistance to ultraviolet (UV) rays Made from synthetic materials like acrylic, polyester, nylon, and lycra or rayon, this outer layer minimizes skin damage by reflecting UV rays, providing enhanced protection against sun exposure.
In today's society, efficient rescue services for road vehicles are essential, particularly in challenging environments like mountainous areas or damaged roads Prioritizing speed, cost-effectiveness, and service quality is crucial for these services To ensure timely assistance, it is important to have rescue teams strategically located nearby, ready to connect with repair professionals to address vehicle issues promptly and effectively.
- Product: Milktea with fat-free ingredients
Discover the benefits of healthy milk tea, a perfect solution for milk tea lovers who are concerned about gaining weight With our fat-free product, you can enjoy milk tea guilt-free, even while on a diet or at the gym Packed with protein and energy, this delicious beverage promotes good health and helps you maintain an attractive physique.
The Maybelline makeup box offers a comprehensive selection of essential makeup products at an incredibly affordable price Ideal for beginners, this kit not only simplifies the makeup process but also enhances convenience and savings, making it a valuable addition to any girl's beauty routine With the Maybelline makeup box, you can effortlessly elevate your style and stay trendy without breaking the bank.
The formation process
To evaluate the ideas we use the VRIN model which includes four factors: valuable, rare, inimitable and non substitutable –
In marketing, value is defined as the disparity between a potential customer's assessment of a product's benefits and costs compared to alternatives Consumers seek products and services that provide the highest value and satisfaction, taking into account their desires and financial capabilities.
● Rare: To extent the uniqueness in the market This is a huge competitive advantage in the beginning However, this does not last long because every product can be imitated
● Inimitable: To which extent other competitors can not easily imitate our product
● Non-substitutable: The more alternative products, the more options that customers have Therefore, they might easily switch to other competitive brands
Table 1 Using VRIN to evaluate the ideas
Valuable Rare Inimitable Non - substitutable
Upon analyzing the VRIN model, it is evident that the "UV Protective Mask," "Emergency Rescue Service," and "Magic Box" emerge as the most promising concepts, offering significant competitive advantages and high profit margins for the company.
Choosing and ranking factors
The essence of a product lies in its capacity to fulfill customer needs, making demand a crucial factor in the new product development process, which we assess at 30%.
An attractive price significantly influences consumer decisions, encouraging purchases or the use of services It also reflects the perceived quality and value of the products or services offered Consequently, the pricing factor holds a substantial weight of 25% in consumer choice.
A competitive price significantly influences consumer decisions and encourages the purchase of products or services It not only reflects the quality and value offered but also plays a crucial role in attracting customers Therefore, the "Price" factor accounts for 20% of the overall decision-making process.
Convenience plays a crucial role in customer satisfaction, encompassing ease of use and straightforward services When products and services are user-friendly, customers experience minimal hassle, encouraging long-term loyalty This factor significantly contributes to overall consumer preferences, accounting for 15% of their decision-making process.
The unique differences of our product set it apart from competitors, making it a compelling choice for customers This distinctiveness plays a crucial role in attracting consumers and securing their preference for our services over others in the market Therefore, we emphasize that these differences account for 10% of our overall value proposition.
Emergency Rescue Service Magic box
Rank Mark Rank Mark Rank Mark
III Type of new product
Figure 1 Positioning map of “Magic box”
PRODUCT INNOVATION CHARTER
Background
The make-up industry has seen significant growth in recent years, becoming an essential aspect of modern women's daily routines However, carrying numerous make-up tools can be time-consuming and cumbersome, often leading to unused products and waste To address this issue, we propose a compact make-up tool box that consolidates all necessary items into one portable container This convenient solution not only saves time and reduces waste but is also budget-friendly Additionally, our customizable make-up concepts align with current trends, offering a practical and stylish option for on-the-go beauty.
Focus
Name of Product: Mini Make-up Box
Introducing our compact makeup toolbox, crafted from high-quality, durable materials and available in a variety of stylish designs that cater to all ages We offer customizable options to meet individual preferences, ensuring that the essential makeup tools—such as foundation, blusher, lipstick, powder, and concealer—are included in a convenient size for easy transport and cost savings Each product comes with quality control certificates and transparent origins, providing peace of mind to our customers Our research, based on over 100 samples from diverse sources, has led us to develop makeup styles tailored for Gen Z, helping those unfamiliar with makeup save time and avoid unnecessary purchases Our primary goal is to deliver quality products with beautiful designs at reasonable prices, while personalizing each box to align with our customers' desires.
Target market and target customer: Target market includes people living in urban areas in Vietnam
Target customers aged 18-26 (GenZ) who are passionate about beauty, want to express themselves, don't know how to make up
Goal
The compact and attractive makeup box offers a convenient solution for women seeking a quick and effortless makeup application Its smaller size not only minimizes waste compared to full-sized products but also allows for experimentation with various styles.
The Mini Make-up Box offers an affordable and convenient way to explore the latest beauty trends, leading to a surge in the creation of diverse Mini Make-up Boxes designed to meet various customer needs and preferences.
Objectives
● More than 10 million people are aware of Maybelline's new product line after the campaign
● Increase market share to 10% after 1 year of opening
In an ever-evolving market, consumers, particularly Gen Z makeup enthusiasts, seek innovative products that align with current trends The demand for affordable options that allow for diverse styling experiences is significant, especially for those new to makeup A ready-made layout simplifies the process for beginners, enabling them to explore various looks effortlessly The compact design of the Magic Box not only saves time and costs but also provides the flexibility to experiment with different styles, making it an ideal choice for on-the-go users.
To safeguard against the risk of competitors stealing ideas, it is crucial to expedite the market launch of new products We anticipate the initial release of this product will take place in early June 2021.
The new product will be legally protected by patent register and trademarks.
NEW PRODUCT PROCESS
Situations
The cosmetic market in Vietnam is experiencing significant growth due to the rising demand for diverse beauty products As living standards improve, an increasing number of Vietnamese women are turning to cosmetics as an essential part of their beauty care routine.
A recent survey of 480 women aged 16-39 in Hanoi and Ho Chi Minh City revealed a significant rise in makeup usage, with daily wear increasing to 30% and the percentage of non-makeup users dropping from 24% in 2016 to 14% in 2019 The findings suggest that many young individuals refrain from using cosmetics due to a lack of knowledge about makeup application or insufficient time to apply it.
Trend
The primary audience for makeup products consists mainly of women, particularly teenagers and adults Research conducted by Q&Me in January 2020 highlights a notable trend in Vietnam, revealing that the percentage of young individuals aged 16 to 22 who regularly use cosmetics rose from 19% in 2019 to 27% in 2020.
"(QandMe, 2020) May see increased behavioral makeup at young audience.
The change in shopping generation
The mainstream shopping generation is shifting to Millenials - Generation Y (Generation Y - born from the early 1980s to the early 2000s) and soon to Generation
Generation Z, born between 1998 and 2010, is characterized by a strong willingness to explore new products and experiences A study indicates that 40% of this demographic is eager to try innovative offerings, even if they are already familiar with established brands This presents a significant opportunity for brands to engage these consumers by providing exciting and unique experiences, making both Generation Z and Millennials key targets for new product launches.
The purpose of using cosmetics varies by age More than half of people survey aged
Individuals aged 23 and above frequently incorporate makeup into their daily routines, whether for work, school, social outings, or parties, viewing it as a habitual part of their lives (QandMe, 2020).
Concept information process
Table 3 The detailed description of the concepts
Concept 1: Magic box with 1 pre-designed style
Products: We still make this product based on
Maybelline's existing technology and do not change main ingredients in the product
Lipstick: We use an additional ingredient Zinc
Oxide (ZnO) to create a sunscreen effect for the product
/Isododecane will be added to increase the skin's ability to control oil and make it difficult to drift when exposed to water
Eco-friendly packaging made from rice husk offers a sustainable alternative to plastic, effectively protecting the environment This versatile material is known for its plasticity, durability, and excellent heat retention, making it a long-lasting choice Additionally, rice husk is abundant, affordable, and widely available, contributing to its growing popularity in eco-conscious packaging solutions.
Each part of the box will contain 1 makeup product with a fixed colour (including: foundation, concealer, highlighter, lipstick, eyeshadow, blush and accessories)
With a compact size of just 3cm, this product is highly portable, making it perfect for users on the go Designed with beginners in mind, it simplifies the makeup process, allowing for beautiful results with minimal effort Available in a variety of styles at affordable prices, users can easily switch up their look without breaking the bank Its convenient packaging ensures that it can be taken anywhere, making it an essential addition to any makeup routine.
Concept 2: Magic box is designed according to the style chosen by the users
The same as concept 1 Same as concept 1 but each part of the box will contain 1 makeup product with the color chosen by the user
Same as concept 1 but users can choose the makeup concept according to their style
Concept 3: Magic box with many pre-designed styles in the same box
Similar to Concept 1, this option offers double the size, allowing users to explore a variety of makeup styles within a single box However, it may not be as convenient to carry as Concept 1.
Marketing Research
The research question: Evaluate how important these below factors are when choosing a makeup product
Evaluate the factors by choosing one of these following levels:
From the research result, “Reasonable price”, “Brand Reputation”, “Trendy Colors” and “Convenience” are the factor that our target customers perceive the most important when choosing the makeup products.
Perceptual map
To create perceptual maps, we first compare the competitiveness of the five concepts to our main competitors (Colourpop, LA Girl, E.L.F) on four factors from research (
“Reasonable price”, “Brand Reputation”, “Trendy Colors” and “Convenience”) These brands are our big competitors in the drugstore cosmetics segment
Table 5 The table describing competitors' concepts and products
950.000 VNĐ The price is a bit high for a set of makeup without enough products
The brand has quite good coverage, and the amount of interaction on social networks is quite high
Diversity in eye color, while the remaining products have no choice
Not enough makeup products (foundation)
650.000 VNĐ The price is a bit high for a set of makeup without enough products
The brand has mid- range coverage, and the amount of interaction on social networks is quite good
Only one makeup tone, picky users
Not enough makeup products (lipstick, blush, eyeshadow) => Not convenience at all
700.000 VNĐ Price stability for a relatively complete set makeup
Brand coverage is not high, and the amount of interaction on social networks is medium
Only one makeup tone, picky users
Not enough makeup products (lipstick, blush)
299.000 VNĐ Good price for a complete makeup set
High brand coverage, influence in the top 5 of the makeup market, high social interaction
You can choose your favorite tone, style
299.000 VNĐ Good price for a complete makeup set
Various colors and styles You can choose your favorite tone, style
399.000 VNĐ Good price for a complete makeup set
A variety of colors, matching each different makeup style
Full range of makeup products but bigger packaging
Table 6 Comparison table between Concepts and competitors' products
Figure 2 Positioning map by Reasonable price and Brand Reputation
Figure 3 Positioning map by Reasonable Price and Trendy colors
Figure 4 Positioning map by Reasonable Price and Lightweight, Convenience
Figure 5 Positioning map by Brand Reputation and Lightweight, Convenience
Figure 6 Positioning map by Brand Reputation and Trendy colors
Figure 7 Positioning map by Lightweight, Convenience and Trendy Colors
Judgments
Our analysis of six perceptual maps revealed that our product excels in two key features: "convenience" and "trendy colors." These attributes significantly outperform those of our competitors, positioning us to focus on further developing these strengths Additionally, we identified and eliminated concept 3, which received lower scores compared to other concepts, allowing us to refine our product evaluation.
To effectively evaluate the concept, we propose using the ATAR model to assess the product's market impact during its first year post-launch By calculating the market share (ATAR) and multiplying it by the total target audience, we can accurately predict the number of product units sold in the initial year.
We proceed to calculate the total number of target customers through the following steps:
As of 2020, Vietnam's population reached approximately 97.3 million, with urban residents making up about 37.7%, or roughly 36.7 million people By May 2021, this figure had risen to an estimated 98.1 million, according to United Nations data Projections indicate that the urban population in Vietnam will continue to grow in 2021.
A 2020 report indicates that 37.4% of urban youth, or approximately 13.83 million individuals aged 18-26, belong to Generation Z A Q&Me study from January 2020 reveals that 27% of these young people prefer makeup, while 14% refrain from using cosmetics due to a lack of knowledge about makeup application This data helps define our target audience effectively.
After using the calculation method to produce the number of target customers, we calculate the market share using the A-T-A-R model by level: Awareness, Trial, Availability, Repeat, as follows:
We assume that 60% of potential customers will know about the product through accessing e-commerce sites, social networks, etc
We expect 20% of our target customers will be willing to try the product
We expect 70% our product will available at retailers, stores & e-commerce sites
We predict the repurchase rate and recommend the product to family and friends at 20%
Number of products will be sold in 2022: 5.670.000 x 1,68% = 95.256 (product unit)
Total cost to produce a unit:
To give the price of a product unit, we use the following valuation methods:
1 Fancy Paper Box (Glossy & Matt
5 Raw Materials (lipsticks, foundation, 20g 80.000 blush, eyes color)
Expenses in order to keep our production going (water, electricity, equipment, )
❏ Viewpoints and assessments of target customers for products
❏ The extra output services of the product
Through these two valuation methods, we conclude the total cost to produce a unit is: 299.000 VND
NPV (Concept 1): Maybelline's Magic box with 1 pre-designed style, r = 10% year
Our product is designed for easy use, offering convenience at an affordable price to cater to a diverse customer base To assess the value of our concept and its profit potential, we utilize NPV calculations Additionally, we expect fluctuations in variable costs over time.
- Year 2023: Variable costs + Warranty costs
- Year 2024: Variable costs + Upgrade Equipment
- Year 2026: Variable costs + Warranty costs
We expected that sale volume data and would be altered as follows:
Year 2021: None Year 2022: Desired sale volume (95.256 products) Year 2023: Increase 15% compared to 2022 (109.542 products) Year 2024: Increase 10% compared to 2023(120.455 products) Year 2025: Stay the same 2022 (95.256 products)
Year 2026: Decrease 5% compared to 2025 (90.502 products)
As a result, our customer data will fluctuate in tandem with sales volume data:
Year 2021: None Year 2022: 5.67 (million people) Year 2023: 6.5205 (million people) Year 2024: 7.17255 (million people) Year 2025: 5.67 (million people) Year 2026: 5.3865 (million people)
Table 9 Data for NPV of Concept 1 (Million VND)
Year 0 1st 2nd 3rd 4th 5th
Concept 2: Magic box is designed according to the style chosen by the users
After assessing the Net Present Value (NPV) of concept 1, we proceeded to calculate the NPV for concept 2 in order to determine which concept is optimal for the development of our new product.
2, we forecast that the sales volume will be lower than concept 1, because it is quite difficult for beginners to design a beautiful makeup layout by themselves
From there, we set the target sale volume through the years as follows:
- Year 2022: Desired sale volume (95.256 products)
- Year 2025: Stay the same compared to 2023
In addition, our customer data will also change at the same rate as sales volume:
Table 10 Data for NPV of Concept 2 (Million VND)
0 1st 2nd 3rd 4th 5th
After evaluating two concepts, we determined that Concept 1 has a higher Net Present Value (NPV) of 36,396 compared to Concept 2's NPV of 35,323 Consequently, we have chosen to proceed with the development of our new product based on Concept 1.
Benefits
As the cosmetic market expands and diversifies, consumers face challenges in selecting the right products, particularly busy individuals and makeup novices with limited experience Understanding these needs, we have developed the "Magic Box," designed to simplify the decision-making process and offer three key benefits to enhance the user experience.
● Convenience: With a compact size but includes most of the basic cosmetics (Blush, Eyeliner, Mascara, Lipstick and Makeup Tools) to help solve difficult the choosing problem of users
● Design: Eye-catching, unique colors with a mirror on the inside, making the product suitable for use in all situations
Utilizing rice husk as a raw material presents an innovative and eco-friendly alternative to plastic, showcasing a commitment to environmental sustainability This approach not only enhances product durability but also promotes reusability, reflecting a responsible attitude towards protecting our planet.
Chunks and Functions
Table 11 Chunks and Functions of product
The mold: contain the cushion core The sponge: apply cushion
Cushion core: contain the ingredients
Blush The mold: contain the blush core
Blush core: contain the ingredients
The mold: contain the blush core Eye Shadow Cores: contain the ingredients
The mold: contain the bronzer/highlighter core
The mold: contain the lipstick core Lipstick Core: contain the ingredients
Accessories to match the makup look
Components
Length x Width: 5x5 cm (2x2cm for each shadow) Thick: 1 cm
Bronzer/Hig hlighter PLA 1 Diameter: 5 cm
Contour Brush (LengthxWidth: 7x1,5 cm) Blush Brush
The Detail of the Magic box
Table 13 The detail of the Magic box
Items Key Ingredients Weight Function
Anti-acne: Niacinamide Antioxidant: Centella
Asiatica (Gotu Kola) Extract, Chamomilla Recutita (Matricaria) Flower Extract, Tocopherol
Asiatica (Gotu Kola) Extract, Chamomilla Recutita (Matricaria) Flower Extract, Aloe Arborescens Leaf Extract
Achieve buildable coverage with a 10g cushion foundation that dispenses the ideal amount of makeup with each press This versatile product allows you to create a lightweight, glowing look or layer for fuller coverage Additionally, it features integrated sunscreen ingredients for optimal protection against harmful UV rays.
Stearate, Octyldodecyl Stearoyl Stearate, Zinc Stearate, Tin Oxide, Caprylyl Glycol, Phenoxyethanol, [+/- (May Contain): Iron Oxides (Ci
77499), Manganese Violet (Ci 77742), Mica, Red 28 Lake (Ci 45410), Red 30 Lake (Ci 73360), Red 33 Lake (Ci 17200), Red 34 Lake (Ci 15880), Red 7 Lake (Ci 15850), Titanium
1,5g Use to add a flush of color to the cheeks
Dioxide (Ci 77891), Yellow 5 Lake (Ci 19140)]
Eye Shadow Mica, Dimethicone, Boron
Nitride, Nylon-12, Polymethylsilsesquioxane, Zinc Stearate, Zea Mays (Corn) Starch,
Crosspolymer, Zinc Myristate, Glycerin, Caprylyl Glycol, Hydrogenated Lecithin, Isopentyldiol, Lauroyl Lysine, Phenoxyethanol, Polysilicone-11,
(+/-) Carmine (Ci 75470), Ultramarines (Ci 77007), Iron Oxides (Ci 77491, Ci
77891), Manganese Violet (Ci 77742) *Contains Carmine as a color additive
Oxides (Ci77491ci77492ci77499), Zinc Stearate, Ethylhexyl Palmitate, Titanium Dioxide (Ci77891), Dimethicone, Manganese Violet (Ci77742),
Methylparaben, Sodium Dehydroacetate, Boron Nitride, Propylparaben, Butylparaben
2g Highlighter: a type of cosmetic product that reflects light
Bronzer: intended to make the skin look sun-kissed or tan
The formulation includes a blend of moisturizing agents such as Lanolin Oil, Oleyl Erucate, and Hydrogenated Castor Oil Dimer Dilinoleate, which provide hydration and skin barrier protection Acetylated Lanolin and Sesamum Indicum Seed Oil enhance skin softness, while Petrolatum and Microcrystalline Wax contribute to a smooth texture Additionally, Beeswax and Paraffin offer emollient properties, and Synthetic Wax ensures a stable formulation The inclusion of Disteardimonium Hectorite aids in texture and consistency, while Tocopheryl Acetate serves as an antioxidant, promoting skin health.
Crosspolymer, Calcium Aluminum Borosilicate, Alumina, Pentaerythrityl Tetra-Di-T-Butyl
Tetraisostearate, Polyhydroxystearic Acid, Synthetic Fluorphlogopite, Silica, Butyrospermum Parkii Butter / Shea Butter, Acrylic Acid/Isobutyl Acrylate/Isobornyl Acrylate Copolymer, Octyldodecyl
Alcohol, Mel / Honey / Miel, Tin Oxide, BHT, Tocopherol, Hydrogenated Palm Glycerides Citrate, Calcium Sodium
1,6g Lipstick is a cosmetic that applies color, texture, and protection to the lips
Citric Acid, Parfum / Fragrance May Contain:
CI 77891 / Titanium Dioxide, Mica, CI 77491,
CI 77492, CI 77499 / Iron Oxides, CI 45410 / Red 28 Lake, CI 15850 / Red 7,
The Extra Services
Maybelline's website offers a "Fit Finder" feature designed to identify the best product collection for your skin type We are enhancing this platform to serve as a valuable addition to our new product line.
Figure 9 Fit Finder website of Maybelline
- You can freely try on makeup item through filter according to your preferences to our available concept
- We will ask a few questions to make sure you have the best choice for you.
Packaging Form
Prioritizing environmental responsibility, we utilize rice husk to produce our products, ensuring they are safe for consumers while also minimizing resource waste.
This product effectively optimizes production costs, enhancing the quality of cosmetics offered As a result, users can enjoy significant savings while benefiting from high-value performance.
Logo
Figure 11 Logo of new product
Situation analysis
The global cosmetics market, valued at $380.2 billion in 2019, is projected to reach $463.5 billion by 2027, with a compound annual growth rate (CAGR) of 5.3% As cosmetics become an essential part of modern lifestyles, the demand is rising due to increased awareness of personal grooming and aesthetics This trend is not limited to women; men are also increasingly using cosmetics, contributing to significant growth potential in the industry.
Figure 12 Research about Global Cosmetics Market
The cosmetics market is rapidly evolving, with both large and small manufacturers focusing on innovative business strategies to enhance competitiveness and boost sales These companies are developing eco-friendly products with natural ingredients, appealing packaging, and diverse designs to attract consumers Cosmetics play a crucial role in daily life, especially for women who prefer portable and convenient options for on-the-go use Manufacturers invest in R&D to create a wide range of products that cater to various consumer needs, but they must also address potential risks associated with both natural and chemical ingredients that can affect skin health The beauty care sector encompasses a variety of small markets, including sunscreens, skincare, haircare, perfumes, and makeup, appealing to both men and women The rise of cosmetic stores, both domestic and international, has intensified competition across retail and e-commerce platforms In Vietnam, approximately 30% of respondents use cosmetics daily, with many spending more on makeup than skincare, averaging 300,000 VND per month A small percentage of individuals refrain from makeup due to lack of knowledge, laziness, or sensitive skin This presents a significant opportunity for businesses to educate consumers and provide quality products in a market with growing demand.
Figure 13 Vietnam cosmetic market overview
L'Oréal, headquartered in Clichy, Paris, is the world's largest cosmetics company, specializing in a diverse range of products including hair dye, skincare, sun protection, makeup, perfumery, and hair care.
Figure 14 Sub-Brands of L'Oreal
Founded in 1915, Maybelline is a renowned American cosmetic brand that specializes in affordable makeup products The name Maybelline is a fusion of "MEBO" and "VASELINE," reflecting its innovative roots As a subsidiary of the French group L'Oréal, Maybelline has expanded its reach to over 129 countries worldwide The brand's mission is to deliver revolutionary and scientifically advanced beauty formulas, empowering women to feel more confident with stunning looks Maybelline is celebrated for its high-quality products offered at extremely competitive prices, making it a favorite among makeup enthusiasts.
Maybelline made its debut in the Vietnamese market in 2007, swiftly capturing the attention of the local community and establishing itself as a leading fashion brand Renowned for its top-selling mascara and popular face and lip products, Maybelline has become a favorite among young consumers in Vietnam.
Gmail contact: maybeline.vietnam@gmail.com
L'Oréal Vietnam, located at the 10th Floor of the VINCOM Office Building, 45A Ly Tu Trong, District 1, Ho Chi Minh City, is a prominent player in the beauty industry For more information about Maybelline products, visit their official website at https://www.maybelline.vn/thuong-hieu-maybelline or check out related articles at https://bloganchoi.com/my-pham-maybelline/.
● Strengths in the SWOT analysis of Maybelline :
Forces are defined as what each company does best in its range of transactions, which allows it to take control of its competitors Those are Maybelline's strengths:
Maybelline offers an extensive selection of products, providing customers with numerous options across various categories For example, their lipstick line features four distinct color sets and 28 unique shades, allowing individuals to easily find the perfect match for their favorite outfits.
Quality of the product: Every product is tested for its quality and most of its composition is based on minerals Allergy is also tested in cosmetics
In the highly competitive cosmetics market, product display plays a crucial role in influencing customer purchases, as many consumers make impulsive buying decisions Brands like Maybelline stand out by showcasing innovative and creative displays in stores, highlighting the importance of visual appeal in attracting customers.
Risk diversification: the fashion industry is highly risky, especially the cosmetics market The brand has invested in numerous markets around the world in order to diversify its risks
Maybelline has effectively leveraged celebrity endorsements by partnering with prominent figures in the film industry, such as Alia Bhatt and Gigi Hadid, to enhance its brand image and appeal.
Loreal Association: Maybelline is a Loreal subsidiary that is one of the world's leading cosmetics companies This association always gives the cosmetics brand an image of confidence and credibility
● Weaknesses in the SWOT analysis of Maybelline :
Deficits are used for areas in which improvement of the enterprise or brand is needed Maybelline's main weaknesses are:
The visual appeal and functionality of a website are essential in today's e-commerce landscape Maybelline's website lacks optimization for photo viewing, and its navigation buttons can be confusing for users.
Make-up chemicals: Maybelline was often claimed to have too many chemicals in its testing make-up range
Maybelline's social media presence is lacking compared to its competitors like Revlon and Lakme, which consistently share product updates, positive reviews, and celebrity endorsements.
Revlon and Lakme, his main competitors, consistently release new products and receive positive reviews while actively engaging with customers on social media platforms like Facebook and Twitter.
Failure to distinguish: There are too many options for customers to choose without cleaning for every product category
● Opportunities in the SWOT analysis of Maybelline :
Chances concern the ways in which the firm is able to capitalize on the environment to raise its income Opportunities include differentiation that can make customers confusing
Consumers worldwide are increasingly embracing makeup in diverse situations Today's women are well-informed about the latest makeup trends, leading to a growing preference for cosmetics, which presents a significant opportunity in the beauty market.
The number of working women has increased: In recent decades there have been more women in professional circles
Today the workplace in offices requires professional clothing and formal research, which make-up is an essential condition
Increased per capita revenue: Global per capita income is increased and disposable income is therefore available The impulsive purchasing behavior of customers has increased
Focus on customization: Modern consumers increasingly seek personalized makeup options and are often willing to pay a premium for them This trend allows cosmetics companies to charge higher prices for each customized makeup choice Additionally, many brands offer premium custom makeup kits to cater to this demand.
● Threats in the SWOT analysis of Maybelline :
Threats are the environmental factors that can adversely affect business growth Certain threats include:
Competition: Competition is facing a lot of competitive forces from brands like
Revlon, Lakme and luxury brands such as Estee Lauder
Economic recession: The global recession has adversely affected the fashion enterprise and many people have lost their jobs and are careful about non-essential spending
Negative publicity surrounding the chemical content of cosmetics and animal testing has led consumers to favor mineral and organic products As a result, many customers are increasingly drawn to brands that prioritize natural ingredients over those associated with negative images.
Marketing objectives
Specific Measurable Attainable Relevant Time-bound
Spreading the key message of the campaign and building awareness for maybelline new product line
10 million people are aware of Maybelline’ s new product line
● 500.000 mentions on social media networks and
● 5.000 users try maybelline filter on tiktok
With the influence of maybelline in Vietnam, the above goals can be achieved in 3 month
Achieving the highest awareness about the new product line and spreading the messages to Target Audience is possible
Marketing strategy
Our primary audience consists of young millennials and Gen Z individuals aged 18 to 26 residing in Ho Chi Minh City and Hanoi, particularly those with limited or no knowledge of makeup.
1.1.2 Target market selection: a Geographic segmentation:
To enhance our product's visibility, we will target the vibrant urban centers of Hanoi and Ho Chi Minh City, where a significant population of young residents and immigrants create a strong demand for entertainment and beauty products.
Our target audience consists of young women aged 18 to 26 who are passionate about makeup and seek to enhance their confidence Despite having limited resources, they possess an average income that allows them to purchase our products, making them an ideal demographic for our brand.
Lifestyle: Maybelline's Magic box is aimed at ordinary customers who are not too passionate about makeup or are in the process of learning about this field
Character: Our target customers are simple, rustic persons who like c onvenience, and prestigious but bargaining
● Interest: Hobbies include things like beauty, hunting for bargains, and shopping on a tight budget
Most consumers favor products that are practical, user-friendly, and affordably priced Their buying choices are significantly influenced by word-of-mouth, online reviews, testimonials, and recommendations from influencers and bloggers.
The beauty market is saturated with numerous makeup brands offering a wide array of products, yet many overlook customer convenience Unlike others that provide bulky full-size items or extensive makeup sets, Maybelline's mini set prioritizes portability and practicality, delivering compact solutions that cater to everyday needs while offering savings.
Maybelline has established itself as an "Urban American Chic" brand, drawing inspiration from the latest makeup trends and styles in New York Its competitive pricing strategy has contributed to a growing base of loyal customers over the years.
● Maybelline has established itself as the number one makeup brand available globally at a reasonable price for a diverse group of beauty-conscious women
● With this new product, it also focuses on the convenience of customers, creating customers confidence, can always carry with them and become shining
The mini makeup set offers a comprehensive selection of essential products designed for beginners, making makeup application simple and cost-effective Additionally, it helps safeguard the skin from the harmful effects of sun exposure.
Maybelline, a leading cosmetic brand in the US and a subsidiary of L'Oréal, has launched a new product line made from dermatologist-certified natural ingredients, ensuring safety for all users This innovative line features colors developed in line with current makeup trends, offering customers a dynamic range of choices that evolve with fashion Additionally, the eco-friendly packaging is crafted from rice husk instead of plastic, highlighting the brand's commitment to environmental protection.
Customers will receive personalized makeup style recommendations through virtual technology when purchasing products Additionally, upon completing their purchase, they will be rewarded with a 30% discount voucher to celebrate their birthday.
To effectively introduce the new "Mini Make Up Box" to the market, we are implementing a penetration pricing strategy aimed at quickly reaching our target audience and capturing market share During the initial six months post-launch, we will actively conduct promotions to encourage customers to try the product Following this promotional period, we will assess key performance indicators; if they meet our expectations, we will set the retail price at 299,000 VND Conversely, if the product's performance falls short, we will adjust our pricing strategy to better align with market demands.
Maybelline, a prestigious global brand known for its quality, is implementing a selective distribution strategy to ensure the success of its products by prioritizing high-quality channel members To maximize revenue and market coverage, the brand is utilizing both direct and indirect selling channels In the indirect channel, Maybelline partners with reputable retailers such as malls, supermarkets, and cosmetic stores Meanwhile, the direct selling approach includes leveraging social media platforms like Instagram and Facebook, as well as e-commerce sites such as Shopee, Lazada, and Tiki.
To enhance brand awareness among our target audience, we are employing a multi-faceted approach that includes sales promotion, public relations, advertising, and digital marketing Our strategy encompasses five key activities: organizing a launch event, collaborating with KOLs, executing promotional campaigns, producing a viral video, and advertising on social media platforms Additionally, by developing engaging viral content and sharing it on Facebook, Instagram, and TikTok, we aim to establish this product as the latest makeup trend for young girls.
Action Programs (Tactics)
The Box will be launch in October/2021
#1 Spreading the key message & awareness of Maybelline’s new makeup box
#2 Increasing traffic on Maybelline’s website & in-store
Table 15 Tools for this Campaign
Interactive Media Digital media (Main tools) –
- Facebook: Content on Maybelline Fanpage
● Using tiktok filter to create trend
Video Marketing - Video Ads on Facebook’s fanpage and Youtube
Online Newspaper - Kenh14.vn, Elle.vn, Yan News, Zing News
- Booking articles based on target reader Groups
- POSM: Standees at physical stores, retailer stores & malls
- KOLs & Influencers have some activities on social media sites to reach and increase trust for customers
Container - Specialty Container for Occasions
Sampling - Samples at physical stores
Table 16 Main activities in Stage 1
Introducing the highly anticipated product launch program, "Make Us Own Day," featuring the S-Lite Join us for an exclusive event with a 30-second teaser video on YouTube that reveals the date and location of this exciting occasion Don't miss your chance to be part of the unveiling!
Collaborate with local KOLs and influencers to create engaging videos for our event series, promoting the empowering message of "Be Confident." Launch a dedicated fan page on Facebook and Instagram to introduce our product concept and announce the release date, while sharing a captivating teaser clip designed to go viral.
Mass media like Facebook and Youtube get the results table
Therefore, we increase traffic to our social page and then increase engagement through comments that stimulate activity
Express your opinion on the new modern trend of
"Confident Breaking the Way" on Kenh14, Yan News, Zing, Ngoisao.net, Newszing.vn, Vnexpress.net, Elle.vn, Khoedep.vn
Stage 2: [Introduction & Spreading the message] Launching
Table 17 Main activities in Stage 2
Youtube: Book KOLs/Influencers shoot experience clips and reviews product
Facebook: Posting communication clips about the uses and benefits of the product: encapsulates a basic set of cosmetics, suitable for makeup beginners, convenient to carry in all circumstances,
Tiktok: Create a trend of makeup challenges using the
“Magic box” cosmetic set with the hashtag
Paid Media: Facebook, Instagram and Youtube Ads: Reach and increase awareness for potential customers through social media
PR Activities Articles Contact media partners to write advertising articles for event
Standee Set up standees at Maybelline store and places specializing in providing cosmetics: Guardian, Hasaki, and in the event
Event (13/10/2021): Organize a product launching event on the occasion October
TVC Create TVC and premiered on Vieon Channel, HTV3, makeup channels
Google Display Ad Image Ads: KOLs photos, products image, mini games image,
Stage 3: [Boost Sales] Post - Launching
● Objectives: Maintain interaction on communication channels and drive sales
Table 18 Main activities in Stage 3
Facebook: Content Facebook Ads Youtube: Bumper Ads & Skippable Video Ads Tiktok: Tiktok Ads
Owner Media Building contents on Facebook, Youtube & Website
OOH Standees at physical stores & shopping malls
Display Ads Frame & lCD at Shopping Malls
Voucher 100,000 VND applied to all Maybelline products in the next purchasing when customers buy 2 products
100 discount codes with denominations from 20.000 VND to 50.000 VND will be applied on the 15th of every month on Maybelline's website and e-commerce platforms
Products will be 20% off in the first two weeks of launch
If customer buy “Magic box” with eyeliner, eyebrow pencil or mascara, they will get special price
Flash Sale This program will be held according to the schedule of the e-commerce platforms During fixed time frames, customers can buy products at 10-20% cheaper than the listed price
Like coupons, 500 freeship codes will be given to customers with invoices over 300,000 VND
If the product is damaged during transportation or the product quality is not guaranteed, the company will recall the product and refund the customer
KPI
Awareness Engagements Increase 20% Engagements on
Maybelline Fanpage Introduction Video Average 500M views/ 6 months Traffic on website Increase 10%
Tiktok Trend Average 1M views Traffic on E-Paper 1,5M
Mention on Social Media Sites
Conversion Conversion rate Increase 20% after the campaign
Marketing Budget
INTELLECTUAL P ROPERTY REG ISTRATION
We register intellectual property rights to our products
According to Luat-So-huu-tri-tue-2005-50-2005-QH11-7022 The following condition are required to obtain the right to product protection
- New: this product is the first new in Vietnam market
- Creative: Trendy and helpful products interaged in just one box, environmental protection, no waste
- Practicality in life: This product can satisfy the most of women beauty needs.