Final Project - Cocoon - Tài liệu tham khảo | Đại học Hoa Sen

BỘ GIÁO DỤC VÀ ĐÀO TẠO
TRƯỜNG ĐẠI HỌC HOA SEN -----o0o----- Final Project Report Product Management Topic: Cocoon
Lecturer: Ms. Trần Thị Thu Hiền Class: 0200 Group 2 Tp.HCM, tháng 6 năm 2024
Sinh Viên Thực Hiện Full Name ID Contribution 1 Nguyễn Thị Yến Vy 22117300 100% 2 Bùi Thuỳ Thảo Quyên 22104930 100% 3 Nguyễn Thùy Trâm Đan 22113907 100% 4 Trang Mẫn Ngọc 22115186 100% 5 Hoàng Thị Thanh Thảo 22114262 100% 6 Lê Châu Phát 22117534 100% Acknowledgement
First of al , we would like to express our gratitude to Hoa Sen University for providing
us the opportunity to study this subject. Next, we sincerely thank Ms. Tran Thi Thu
Hien. Throughout the course, she has shared, assisted, and guided our group a great deal
in our learning process. She has created favorable conditions for us to further explore
this topic and complete our report. There wil undoubtedly be shortcomings in the
process of doing this work. However, our group has made every effort to complete the
report as thoroughly as possible. We look forward to receiving your comments and
feedback to improve our report further. Commitment
All the information and data in this report are not copied or taken from any other sources
without proper citation. If information from other sources is used, our group has
fol owed the correct rules and principles for citing and referencing, and al sources are
clearly stated. This report is written for the purpose of learning and research, and our
group has no intention of using it for any purpose other than sharing knowledge and information. Mục Lục
PHASE 1: OPPORTUNITY IDENTIFICATION ....................................................... 4
1. Company Introduction ...................................................................................... 4
1.1. Vision ........................................................................................................... 6
1.2. Mission ........................................................................................................ 6
2. Opportunity identification ................................................................................ 6
2.1. Company’s resources ................................................................................. 6
2.2. New market resources ............................................................................... 8
2.3. Internal mandate ........................................................................................ 9
2.4. External mandate ..................................................................................... 11 3. List of opportunitie
s ........................................................................................ 13 4. Evaluation and selectio
n ................................................................................. 14
PHASE 2: CONCEPT GENERATION ...................................................................... 14
1. Concept generation process ............................................................................ 14
2. The list of the ideas .......................................................................................... 17
3. Five product concepts...................................................................................... 18
PHASE 3: PRODUCT CONCEPT EVALUATION .................................................. 20
1. Initial Reaction ................................................................................................. 20
2. Concept Testing ............................................................................................... 21
3. Scoring Model .................................................................................................. 22
PHASE 4: PRODUCT DEVELOPMENT.................................................................. 34
PHASE 5: LAUNCHING ............................................................................................ 37
Part 1: Marketing testing ....................................................................................... 37
Part 2: Product laughing campaign ...................................................................... 38
PHASE 1: OPPORTUNITY IDENTIFICATION 1. Company Introduction
Vegan cosmetics brand Cocoon, established in 2013, is committed to providing quality,
safe products that are not harmful to animals. Cocoon uses natural ingredients from
Dak-Lak coffee, Ben Tre coconut, Tien Giang cocoa butter, Cao Bang roses, and
organic substances such as Grapefruit, Centel a Asiatica, and Squash,... to create
products that make beauty help skin become radiant and healthy. With the motto "Mỹ
phẩm thuần chay - cho nét đẹp thuần Việt" the brand is completely "Made in Vietnam". Brand meaning:
Cocoon means "cái kén", like a "ngôi nhà" to incubate and nurture a smal caterpil ar
that wil one day turn into a beautiful and splendid butterfly. From that meaning, the
Cocoon is the "home" to care for the skin and hair of Vietnamese people, helping them
become more beautiful, perfect, and shine in their way. Logo meaning:
Cocoon's logo has an image of a young woman wearing an ao dai and a conical hat,
posing gently and confidently, symbolizing the image of Vietnamese women in the new
era. The logo means that Cocoon Vietnam Organic Cosmetics wants to help Vietnamese
women become more beautiful and confident. Cocoon is a close friend accompanying Vietnamese women.
Image: Logo of the Cocoon brand
Company name: CÔNG TY TNHH MỸ PHẨM NATURE STORY.
Founder: Nguyễn Bảo Ngọc/ Nguyễn Bảo Tín/ Phạm Minh Dũng.
Address: 38C- 39C Quarter 1, National Highway 1A, Tan Thoi Hiep Ward, District 12, Ho Chi Minh City.
Fanpage: https://www.facebook.com/CocoonVietnamOfficial Hotline: 19009300 Email: we@cocoonvietnam.com
Website: http://cocoonvietnam.com/ Brand certification
Cocoon is the first Vietnamese cosmetic brand certified not tested on animals by
Leaping Bunny and Cruelty-Free International and certified not tested on animals by
animal rights organization PETA. Cocoon products are 100% vegan and registered by
The Vegan Society, a leading educational organization for vegan living global y. 1.1. Vision
Cocoon wants to become one of the leading cosmetic brands on the market, trusted and
loved by consumers. Say no to ingredients derived from animals and do not test on
animals. Cocoon not only wants to beautify the skin but also wants to launch and operate
many meaningful programs to join hands to protect the environment, ecosystem, and
animals... and quickly receive a large response from the crowd. client. 1.2. Mission
Cocoon is committed to providing high-quality, effective, and safe cosmetic products
for the skin using natural ingredients that are not harmful. Cocoon always keeps in mind
a mission to combine the benefits of natural foods with scientific understanding to
create safe and effective cosmetic products for everyone. The difficult journey to find
true beauty is not your task alone, we wil go with you on that journey. Always like that, forever like that. 2. Opportunity identification
2.1. Company’s resources Analyze market opportunities
In the context of the increasing trend of using natural and organic cosmetics, Cocoon is
a pioneering cosmetic brand in this field - facing a great opportunity in Vietnam. With
the rapid growth of the economy and personal income, customers pay more attention to
health and the environment and choose safe and benign products for the skin. Expanding
business through online shopping channels (Shopee, Lazada, Tiktokshop,...) also brings
great opportunities for Cocoon to reach many potential customers, especial y in remote
areas. In addition, the green consumption trend is also widely known, causing demand
for environmental y friendly products made from natural materials to increase. In a
cosmetics market that is growing strongly but stil lacks reputable brands of natural and
organic cosmetics, Cocoon can affirm its position and become the leading brand in this
field in Vietnam. Vietnam. However, to be successful, Cocoon needs to focus on
improving product and service quality, building a reputable brand and image, expanding
distribution channels, and promoting the brand on social networks. Image: Tiktokshop Technology
All natural ingredients are purchased directly from local farmers, combined with active
ingredients, vitamins, and base systems imported official y from countries such as
France, Germany, Japan,... Besides, the key point that helps Cocoon create safe and
highly stable cosmetic products is thanks to modern production lines and techniques,
based on GMP standards of the Vietnam Ministry of Heal th.
Cocoon applies modern preparation technology to make products of high quality, safe,
and effective. In addition, there is a closed production system and strict control. Before
being released to the market, it must be studied for 6 - 12 months on sensory, pH,
stability over time, temperature, and irritation, and meet the regulations of the Ministry
of Health of Vietnam. Cocoon uses environmental y friendly packaging such as
recycled paper, bioplastics, and glass, contributing to environmental protection and
reducing plastic waste. Cocoon develops strongly through online sales channels, online
marketing, and fast delivery services. The brand is trying every day to understand and
listen to customers' needs to improve in the future.
Image: Machines of the Cocoon brand 2.2. New market resources
Expanding to International Markets:
• Market Size: The Vegan Cosmetics Market is expected to grow from USD 2.66
bil ion in 2023 to USD 3.70 bil ion by 2028, at a CAGR of 6.83% during the forecast period (2023-2028).
• Consumer Trends: Even before the pandemic, The Economist newspaper
declared 2019 to be the year of "veganism" with 1/4 of young Mil ennials
worldwide identifying as vegan or vegetarian.
• Retail Landscape: On the high-end e-commerce site Net-a-porter, the "clean
beauty" category, which includes vegan,organic, and sustainable cosmetics, has
seen a growing number of brands and a 50% increase in sales compared to the previous year. Developing New Product Lines:
• Men's Cosmetics: The men's cosmetics market is growing rapidly, and Cocoon
can take advantage of this opportunity to develop products specifical y for men.
• Makeup: Cocoon currently focuses on skincare products, but they could expand into the makeup market.
• Hair Care: Cocoon could also develop hair care products to meet consumer demand.
• New skincare products: Cocoon can develop new skincare product lines (eg toner pad, paper mask). 2.3. Internal mandate Suppliers:
• Familiar ingredients from many regions such as DakLak coffee, Ben Tre
coconut, Tien Giang cocoa butter, or Cao Bang rose water... Cocoon has created
many gentle products like DakLak coffee scrub, grapefruit essential oil for hair
care, pumpkin water, and rose water makeup remover... These products quickly
gained high praise in the skincare community for their reasonable prices and
quality, which is no less than famous foreign cosmetic brands. Cocoon only
works with suppliers who ensure progress, meet standards, and fol ow
agreements like Kewpie, and Nikkol Group...
Intermediary promotion channels:
• Channel Leader: The leader of the distribution channel is Cocoon, which directly
manages its system. Cocoon produces the products and finds ways to deliver
them to consumers through other members of the channel.
• Retailers: With the trust and support of consumers and the continuous efforts of
the brand development team, The Cocoon now has more than 300 sales points in
its national distribution network: Watsons, Guardian, Sammi Shop Garden,
Hasaki, Coco Shop, Boshop, Skin House, Chanh Cosmetics Box. Additional y,
there are over 200 other sales points across the country. With this dense network
of retail stores, Cocoon can easily enter markets in major cities in Vietnam,
especial y Hanoi and Ho Chi Minh City. Also, the retail points of these stores
are already wel -known, so many people choose to buy cosmetics there.
Therefore, this indirectly helps Cocoon get detailed information about the
interests, personalities, and preferences of customers in each area. From here,
products can be researched and developed based on consumer preferences and geographic location.
• Cocoon's website provides the most detailed information about products besides
retail points or e-commerce platforms. This helps customers choose and feel
more secure after selecting products to use. The Cocoon website usual y has
higher prices than retail points or other online channels, but it plays its role in
ensuring the authenticity of products for users.
• E-commerce platforms: The e-commerce platforms that The Cocoon is currently
on include Shopee, Lazada, and TikTok shop, al of which are wel -received. E-
commerce platforms have specific roles in transactions, logistics, and
simplifying the distribution process. These platforms help Cocoon connect and
communicate with customers quickly in the era of the Internet. Many major and
reputable newspapers like El e. vn and vtv. vn has praised the green cosmetic
revolution of the brand. Understanding the influence of KOLs, Cocoon has
partnered with beauty experts to evaluate and introduce their products and services to customers. Customers:
• High information access: For cosmetic products, technology is often seen as a
competitive strength. Information about product features is regularly shared and
evaluated by reference groups, helping customers easily find and access information.
• Low price sensitivity: Customers believe that high-priced products have strict
production processes and better quality than other price segments. Therefore,
customers often accept higher prices to buy products from brands they trust to
be quality and worth the money.
• Public: Cocoon has appeared in many major newspapers and digital magazines
like Elle. vn, vtv. vn, vnexpress... Most news about Cocoon mentions how
Cocoon has carried out a vegan cosmetic revolution and uses environmental y
friendly production processes. Major and reputable newspapers have praised
Cocoon for its animal-friendly and environmental y-friendly products. This
greatly affects Cocoon's brand influence on the public. By understanding the
influence of KOLs, Cocoon has partnered with many beauty experts and
celebrities to advertise products on social media. Through these KOLs, the
company can communicate the message that innocent animals deserve love and care to users. 2.4. External mandate PESTEL analysis of Cocoon. Social
• Green consumer trend: Consumers are increasingly concerned about
environmental y friendly and safe products for their health, which drives the demand for Cocoon's products.
• Changes in consumer behavior: The increasing awareness of health and natural
beauty makes consumers prioritize natural products.
• Young population: Vietnam has a high proportion of young population, who are
very interested in beauty and self-care, creating great opportunities for Cocoon. Technological
• Manufacturing technology: Applying advanced manufacturing technologies
helps Cocoon improve product quality and optimize costs.
• Research and development: Investing in R&D to develop new products and
improve the quality of existing products.
• E-commerce: The development of e -commerce helps Cocoon easily reach
customers and expand the market. Environmental