Introduction
Cocoon is a 100% pure cosmetic brand that prioritizes skin safety and ethical practices, being both vegan and cruelty-free, as certified by The Vegan Society Committed to delivering nourishing and beneficial natural cosmetics, Cocoon is set to expand its product line with the launch of vegan sheet masks This report focuses on the research conducted within the skincare 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
Between 2020 and 2027, the Vietnamese skincare market is projected to reach $1,154.25 million, driven by rising disposable income and a growing young population Generation Z, which makes up 39.08% of the total population, represents the most promising customer segment for skincare products These factors collectively contribute to an increased demand for skincare products among domestic consumers in Vietnam.
Porter’s five forces model reveals that the sheet masks industry in Vietnam is highly competitive, driving rapid growth This competitive nature enhances the industry's appeal, indicating a promising future for continued expansion in the market.
The cosmetic and skincare industry in Vietnam is experiencing significant growth, driven by rising living standards and increased disposable income As consumer preferences evolve, there is a marked shift towards premium skincare products, leading to a decline in mass-market offerings To meet this growing demand, skincare producers are ramping up production volumes Key success factors for the sheet mask industry in Vietnam are detailed 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
In 2020, Vietnam's economy demonstrated resilience against the Covid-19 pandemic, largely due to proactive measures taken by the government and the collective efforts of the population and business sector, as reported by The World Bank (2021) However, by mid-2021, the Covid-19 situation became increasingly complex and challenging to manage, negatively impacting disposable income and resulting in a decline in the consumer price index This downturn poses significant challenges for the skincare industry, including Cocoon Vietnam, as reduced disposable income leads to diminished consumer interest in beauty products.
Vietnamese consumers often prefer foreign goods due to their perceived quality, design, and brand reputation, while local products struggle to gain trust for various reasons Young people from the 9x and 10x generations associate Vietnamese cosmetics with poorly advertised cream mixes and unknown origins, which significantly undermines their confidence in domestic brands This negative perception poses challenges for local companies like Cocoon, particularly in the skincare sector.
Modern cosmetic production lines are essential for ensuring high-quality products and efficiency in manufacturing Cocoon products are produced in a state-of-the-art, closed system that complies with the cGMP standards set by 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
Air pollution in Vietnam poses significant health risks, particularly for those who work outdoors or spend extended hours in front of a computer Prolonged exposure to ultraviolet rays and computer radiation can severely damage the skin Consequently, prioritizing skincare is essential for protecting skin health.
Decree 93/2016/ND-CP outlines the regulations for cosmetic production, providing a significant advantage for the pharmaceutical-cosmetic industry, especially for Cocoon By adhering to government standards, Cocoon enhances consumer trust in its products.
Decree 98/2020/ND-CP outlines penalties for administrative violations related to commercial activities, including the production and sale of counterfeit and banned goods, while also prioritizing consumer protection This regulation is advantageous for consumers by helping them steer clear of counterfeit products and minimizing potential losses for businesses like 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
A SWOT analysis evaluates a company's market strengths and weaknesses alongside the opportunities and threats posed by competitors in the global marketplace For a detailed examination of the product's SWOT factors, please refer to 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
Cocoon's differentiated marketing strategy targets 17 to 24-year-old males and females with low to medium disposable income, focusing on a specific segment for enhanced efficiency The brand's vegan sheet masks, made from pure Vietnamese ingredients and a unique formula, offer a competitive price point, appealing to environmentally and socially conscious consumers This demographic is likely to be influenced by social media and trends, making them receptive to marketing efforts Therefore, Cocoon's targeted approach effectively aligns with the preferences and spending habits of this audience, ensuring its vegan masks resonate well with potential customers.
Positioning & Estimate market share
The Vietnamese market features various vegan cosmetics brands, with Klairs, Innisfree, and The Body Shop being notable for their vegan sheet masks This article will analyze Cocoon’s position in the skincare industry through a perceptual map, based on data collected from an online survey of 30 participants, as illustrated in Figure 1.
Figure 1: Conceptual map for vegan sheet masks in Vietnam skincare industry
Cocoon will strategically price its sheet masks lower than competitors to appeal to our target segment, allowing customers to enjoy high-quality products at reasonable prices While other brands may offer quality but at a higher cost, Cocoon's vegan sheet masks will carve out a niche in the market by emphasizing our commitment to natural ingredients that are cruelty-free and free from animal-derived components This strong belief in ethical sourcing will provide Cocoon with a competitive advantage in the industry.
"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
Cocoon's sheet masks are designed to enhance skin quality and beauty, utilizing 100% vegan and natural ingredients to meet customer needs The core benefit of these products lies in their ability to promote healthy, youthful, and vibrant skin, aligning with the brand's mission to provide skincare solutions from simple, everyday ingredients.
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
Our products are free from addictive corticosteroids, mineral oil, hydrogen peroxide, triclosan, phthalates, and luminescent substances Before reaching the market, each product undergoes a rigorous testing process lasting 12 to 24 months, involving both laboratory (in-vitro) tests and volunteer (in-vivo) trials to ensure safety and efficacy.
The UNIQUE DESIGN features a robust mask structure with three ultra-thin layers that fit snugly against the face, allowing for enhanced coverage This innovative design enables the mask to hold more solution compared to standard sheet masks, delivering superior hydration and effectiveness.
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:
Cocoon is excited to introduce its latest addition to the product line: the "Sheet Mask - Cocoon." This new collection enhances our offerings and provides customers with an innovative skincare option that aligns with our brand's commitment to quality and variety.
Differentiate from other competitors' products:
Cocoon has successfully captured the hearts of customers by embodying the essence of Vietnamese culture in its products The brand is committed to offering 100% vegan items that utilize locally sourced natural ingredients from Vietnam, including squash, Dak Lak coffee, Ben Tre coconut oil, and Cao Bang rose This dedication to authenticity and local sourcing distinguishes Cocoon as a uniquely "Vietnamese" brand, setting it apart from competitors in the market.
Figure 2: Packing of Cocoon’s vegan sheet masks
The Cocoon sheet masks feature a minimalist outer packaging that beautifully showcases pure Vietnamese ingredients like green squash, rose petals, and turmeric, allowing users to connect with the essence of Vietnam Prominently displayed in the top left corner is the recognizable 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
Cocoon shop will have dedicated staff available to assist customers in understanding and using their products effectively Additionally, customers who make purchases exceeding 3,000,000 VND (approximately US$160.42) will gain VIP status, entitling them to exclusive loyalty services.
Cocoon offers a loyalty card for customers to collect annual points, which can be redeemed for a complimentary facial treatment with select staff With customer consent, Cocoon's team may gather email addresses or mobile phone numbers to follow up on satisfaction after using their vegan sheet masks Additionally, loyal customers will receive special product gifts on their birthdays.
Pricing strategies
Our objective is to dominate the vegan sheet masks market by maximizing market share and leading in product quality To achieve this, we implement a penetration pricing strategy, offering our sheet masks at lower prices than competing products.
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:
Cocoon's strategy focuses on discovering new customer segments and identifying potential future clients, as increased sales volume can reduce unit costs and enhance long-term profitability By initially setting a low price, Cocoon aims to deter both current and potential competitors Once the market becomes accustomed to the new product, the company plans to gradually raise prices to strengthen its market position and profitability, while maintaining a mid-range price point that reinforces its brand image as a provider of high-quality vegan products.
Mixed product bundle pricing allows us to offer several products together at a lower price than if purchased separately This strategy will be applied to our mixed combos, including 5-product bundles and Tet combos, providing customers with greater value.
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 employs push strategies to enhance product recognition and facilitate customer access to its offerings Our distribution approach focuses on selective channels, promoting Cocoon's vegan sheet masks through reputable stores and online retailers In the first year, we plan to expand our channel partnerships to ensure comprehensive market coverage across Vietnam.
4.3.1 Online shopping website & Cocoon Vietnam official website
Well-known cosmetics websites like Watson, Guardian, Beauty Garden, and Hasaki are ideal platforms for distributing free samples to customers This strategy can create a phenomenon where the supply of products significantly lags behind consumer demand.
Leverage Cocoon's extensive distribution network, which includes over 300 cosmetic retail points nationwide Form strategic partnerships with beauty salons, spas, and health centers to enhance product visibility Selling face masks in these venues presents a valuable opportunity to broaden your sales channels and reach a wider audience.
In light of the unpredictable Covid-19 pandemic, it is essential to list sheet mask products on platforms like Shopee, Lazada, Tiki, and Sendo to effectively reach our target audience of men and women aged 17 to 24.
Cocoon will implement Integrated Marketing Communications (IMC) to effectively promote its sheet mask products, utilizing a diverse range of promotional strategies to enhance product visibility and strengthen its market position.
Cocoon prioritizes advertising on social media platforms like Facebook, Instagram, and YouTube, recognizing that traditional advertising often leads to wasted expenses due to the need for paid promotions to effectively reach consumers By leveraging these modern channels, Cocoon aims to reduce costs while enhancing brand awareness and effectively communicating messages and promotions This strategy enables Cocoon to swiftly introduce new products to consumers and expand its market presence.
Modern advertising campaigns keep consumers informed about this year's promotions, with Cocoon focusing on major holidays like Lunar New Year, National Day, and Labor Day By offering time-limited discounts and gathering customer feedback, Cocoon aims to enhance product visibility and recognition while continuously refining and improving offerings to meet customer desires.
Cocoon strategically selects and evaluates influencers and KOLs that align with its brand image to promote its new products, specifically gifts and masks The brand provides these influencers with detailed information about the features and benefits of Cocoon masks, enabling them to serve as "living proof" of the product's effectiveness This approach leverages the popularity of KOLs and influencers to create a viral effect, boosting customer interest Additionally, Cocoon partners with e-commerce platforms like Shopee and Hasaki to implement promotional campaigns, enhancing the visibility and accessibility of Cocoon products across various channels.
Cocoon aims to enhance engagement by sponsoring gifts for participants at special events like webinars, targeting individuals interested in skincare and aesthetic solutions through these informative gatherings.
Utilize email, phone calls, direct messaging, and social media platforms to engage directly with potential customers Creating a targeted list of prospects enables Cocoon to efficiently reach out and reduce direct marketing expenses.
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
In January 2022, we initiated a communication campaign aimed at introducing our products to customers by highlighting their uses, features, and advantages through modern channels like Facebook, Instagram, and YouTube This campaign officially launched on January 6, 2022, featuring targeted advertising on the newsfeeds of potential customers To further entice buyers, we offered promotions such as "Buy 3 masks, get 1 free" and discounts on bills over 200,000 VND.
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)
In February, we launched promotions across over 300 stores featuring exclusive Cocoon products, partnering with leading e-commerce platforms such as Lazada, Shopee, Hasaki, and Beauty Garden Our goal was to elevate Cocoon sheet mask products to the forefront of these websites and their fan pages To attract customers, we implemented enticing offers, including hourly flash sales on sheet masks and free shipping on orders of five or more masks.
In March, we are excited to launch a giveaway program featuring a delightful combo of Dak Lak coffee scrub and a set of five sheet masks This one-week giveaway invites participants to like Cocoon's fan page, tag three friends, and comment with three lucky numbers for a chance to win Don't miss out on this opportunity to pamper yourself!
SECOND QUARTER: Building customer's trust in Cocoon brand and increase brand awareness of new products up to 35% among target customers
In April, we will execute a strategy to collaborate with three key opinion leaders (KOLs) in the beauty industry, specifically Trinh Pham and Goc Cua The company will provide these KOLs with three mask lines, complete with comprehensive product details, for them to review and share on their personal social media accounts, including Facebook, Instagram, and YouTube.
Ru, Quach Anh is a talented makeup artist who actively promotes Cocoon's sheet masks on the brand's fanpage The strategy includes sharing review videos from key opinion leaders (KOLs) and utilizing Facebook and Instagram for advertising, while optimizing time and costs compared to the first quarter Additionally, advertising efforts will continue on various e-commerce platforms to enhance visibility and sales.
In May, we will leverage the power of micro-influencers to enhance the perceived authenticity of Cocoon's new sheet mask product By collaborating with 20 micro-influencers who have low to medium popularity, we aim to build trust among their followers, as these influencers typically share personal experiences with self-purchased products Their genuine testimonials will be shared on their personal pages, complementing our ongoing advertising efforts on e-commerce platforms.
In June, Cocoon launched the "Review Cocoon Sheet Masks - Draw to Receive Attractive Gifts" program in celebration of Environment Day Customers are encouraged to share their experiences with Cocoon's sheet masks, highlighting their effects while using the hashtags #Cocoon, #MyPhamThuanChay, and #vegansheetmasks, and tagging Cocoon's official Facebook fan page Each participant can submit one review for a chance to win a gift through a drawing, which includes a 10% voucher for purchases over 100,000 VND, a free coffee balm for bills over 200,000 VND, or a complimentary mask for orders exceeding 300,000 VND Additionally, Cocoon will continue advertising on e-commerce platforms.
THIRD QUARTER: Reduce advertising and communication costs from the third quarter, increase product sales
In July, we implemented a strategic plan aimed at branches offering exclusive Cocoon products, with the goal of selling over 200 masks in one month To enhance sales efforts and accelerate inventory turnover, stores that meet this target will receive competitive pricing from Cocoon, featuring discounts greater than usual based on the quantity each branch orders; the more they import, the lower the price per unit will be.
In September, we will sponsor events focused on environmental protection, aiming to engage 100 participants and raise public awareness At the conclusion of the event, Cocoon will distribute masks to all attendees as a token of appreciation.
In the fourth quarter, we aim to enhance our sales momentum as the year concludes, projecting total revenue to exceed $6 billion and anticipating the sale of over 200,000 products throughout the past four 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
Cocoon's vegan sheet masks are projected to achieve total first-year sales revenue of 6.5 billion VND, with profitability expected once sales exceed 200,000 units in the first year The break-even analysis is based on a per-unit retailer revenue of 31,000 VND, variable costs of 15,000 VND per unit, and estimated fixed costs of 3.2 billion VND for the year.
Controls
To evaluate the effectiveness of our marketing strategies, we will conduct market research and gather consumer feedback through a survey and personal interviews two months post-launch This will help us assess customer satisfaction, identify areas for improvement, and gauge brand awareness Additionally, we will establish an internal system to monitor sales fluctuations and analyze the relationship between pricing, distribution, promotion, and sales Our team will collect and report relevant data weekly to the company headquarters By comparing outcomes before and after implementing strategies, we can determine the most effective distribution channels, assess profit margins and market share, and decide on optimal investment levels for maximum performance.
Conclusion
Our marketing plan aims to successfully launch Cocoon's vegan sheet mask in Vietnam's skincare market, targeting males and females aged 17 to 24 To achieve our marketing and financial goals, we will implement several strategies, including advertising on social media and popular cosmetic websites frequented by our target audience In the first two months, we will focus on creating buzz through effective communication and promotions on e-commerce platforms and retail cosmetic stores Loyal customers will enjoy exclusive discounts and services, with special promotions tied to Vietnamese festivals and significant dates We will closely monitor product quality and customer satisfaction to swiftly address any issues that arise Additionally, we will track monthly sales and expenses to identify any deviations from our plan, ensuring that our marketing strategy effectively increases profit margins.
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Cocoon is a brand that embodies the essence of Vietnamese beauty through its commitment to vegan cosmetics Their products are crafted with natural ingredients, promoting both skin health and environmental sustainability By choosing Cocoon, consumers can support ethical beauty practices while enhancing their natural beauty The brand reflects a growing trend in the beauty industry towards cruelty-free and eco-friendly options, appealing to those who value authenticity and care for the planet.
Cocoon là một thương hiệu mỹ phẩm thuần chay nổi bật “made in Vietnam”, đã có sự lột xác ngoạn mục trong ngành công nghiệp làm đẹp Với cam kết sử dụng nguyên liệu tự nhiên và bảo vệ môi trường, Cocoon không chỉ đáp ứng nhu cầu làm đẹp mà còn góp phần nâng cao nhận thức về sản phẩm bền vững Sự phát triển của thương hiệu này đã thu hút sự chú ý của người tiêu dùng trong nước và quốc tế, khẳng định vị thế của mỹ phẩm Việt Nam trên thị trường toàn cầu.
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Porter’s five forces c
Vietnam's retail market is the largest in the ASEAN region, reflecting a robust economy and increasing consumer demand for a diverse range of 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
To build and sustain strong customer relationships, sheet mask producers must consistently offer high-quality products and services that meet consumer needs In Vietnam, consumers prioritize quality, making it essential for brands to establish a strong presence in the minds of their target audience.
Sheet mask brands primarily utilize three key distribution channels: luxury department stores, spas, and online platforms Notably, Shopee and Lazada stand out as leading websites that offer a wide range of skincare and cosmetic products, making them essential for reaching a diverse customer base.
Advertising is a crucial component of key success factors (KSF), serving as an effective communication tool across various platforms Billboards, such as those in magazines, alongside broadcasting media like television, radio, and outdoor events, significantly enhance promotional efforts and engagement with target audiences.
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 is crucial in a consumer-oriented marketing strategy, especially in the highly competitive skincare and beauty industry Businesses must recognize the significant influence of customers in creating value and ensuring sustainable brand development.
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 leverage natural ingredients and advanced technology, building on the successful features of their previous jar masks This innovative approach allows them to offer competitive pricing compared to other brands, ensuring rapid growth in revenue and profits for the company.
- 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 has significantly impacted input prices, creating challenges for transportation and product preservation Additionally, the decline in disposable income among consumers has resulted in reduced interest in skincare needs.
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
Expense 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
MEETING MINUTES OF ASSESSING THE COMPLETION OF WORK
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