Cocoon’s product life-cycle

Student Name: Ta Chau Giang

ID VNU: 22055213

Lecturer: Mrs. Hoang Dam Luong Thuy

1. Overview about Cocoon:

- Cocoon was born in 2013 and is known to many consumers for its benign and
effective natural products. In recent years, Cocoon has suddenly attracted attention
in the beauty market because of its beautifully innovated and neat packaging. In
addition, Cocoon also combines humane and close messages.
- They, the founders, are nature lovers, always passionate about discovering familiar
ingredients in the daily life of Vietnamese people from vegetables and fruits, to
how to bring them into the world cosmetic products whose nutrients are retained
intact and perfect.
- Mission: We were born to bring you healthy, youthful and vibrant skin and hair
from simple and familiar ingredients that you eat every day.

- Meaning of brand: the cocoon is

like a "house" to incubate and
nurture a small caterpillar that
will one day turn into a beautiful
and splendid butterfly. From that
meaning, Cocoon is the "home" to
care for the skin and hair of
Vietnamese people, helping them
become more beautiful, perfect
and shine in their own way.
Cocoon was born for a simple
reason: to beautify Vietnamese
people from familiar ingredients.

2. Cocoon’s product life-cycle: Product strategies

a. Introduction stage:
- At this stage, Cocoon is still a new brand, without many achievements or
resonance with consumers. Therefore, their main customers are product testers and
young customers who have access to social networks and grasp trends. Therefore,
Cocoon's sales are very low and have no profit.
- At this time, cocoon has just entered the market with two products: squash extract
and grapefruit peel extract, specialized in treating dark acne, so it has to compete
with many big and long-standing competitors such as Decumar, Acnes... causing
for Cocoon has not yet gained a foothold in the Vietnamese market. Furthermore,
the goal of this phase of cocoon is to test, evaluate, as well as develop its vegan
products, so the cost is very high at this time.
- Cocoon's main strategy at this time is to grasp the green living trend of consumers
to develop products with commitments of 100% vegan, 100% not using
ingredients of animal origin and 100% vegan 100% not tested on animals to build
trust with customers, as well as create their own vegan brand.
 Cocoon is focusing on brand development, they have clearly defined goals
and product development strategies.
 b. Growth stage:
- At this stage, the name Cocoon began to emerge as a new wave changing the way
consumers use cosmetics. Cocoon's customers are also more diverse, from many
different ages, even diverse in both men and women. Recognizing the diverse
needs of customers, at this stage, Cocoon has launched many other product lines
such as products for the face, body, hair... Cocoon's products all focus on Benign
and natural properties, suitable for Vietnamese skin.
- Cocoon's product quality has also been improved. Products are strictly censored,
must pass quality assessments from both domestic and international sources, and
must be thoroughly researched for 12 to 24 months before launching to the market.
At the same time, Cocoon also commits that there are no harmful or addictive
substances for the skin, only selected natural plant ingredients from different
regions across the country. Therefore, there is almost nothing to discuss about the
quality of Cocoon's products.
- In addition, the packaging of each product is also highly appreciated. The
materials used to make the product's packaging are all from environmentally
friendly materials such as paper or recyclable bottles. The product packaging is
also meticulously designed with warm, deep colors such as brown and yellow,
both minimalist but no less luxurious. Furthermore, Cocoon's packaging has a bold
Vietnamese touch by bringing wood carving culture by engraving ingredients such
as squash, coffee, and grapefruit into the logo of each product type.
 This causes Cocoon's sales to grow strongly, profits to be much larger, and
product costs to be minimized when the company knows what it should
focus on. Furthermore, Cocoon has more competitors as its products gain
more ground in the market. Cocoon's main goal in this period is to expand
market share, increase sales revenue, and increase product popularity
among consumers, and they have achieved those things.
c. Maturity stage:
- A period in which Cocoon affirmed its position as the leading vegan cosmetics
brand in Vietnam and gradually expanded to the international market. Cocoon's
products are increasingly improved and enhanced through Cocoon's continuous
investment in product research and development, applying advanced technologies
to produce more high-quality products.
- Currently, Cocoon is developing more product categories in both length and depth.
For example, in the skin care category, Cocoon has added many product lines such
as masks, toners, makeup remover oils... and in each product line, there are more
 products made from natural ingredients. different materials. This creates diversity
so customers can freely choose products suitable for their skin.
- Product support service is also a factor that makes Cocoon famous. They have
built a good customer care network in answering customer questions and handling
requests quickly. Cocoon's warranty policy is very clear, transparent, and does not
cause difficulties for consumers to help them grasp more complete information
about the brand.
 At this stage, Cocoon's main customers are young Vietnamese women,
international customers as well as loyal customers to the company. Through
its goals of sustainable development and international outreach, as well as
its slow but steady plans, Cocoon has achieved huge revenue and profits,
thoroughly minimizing output costs. Since then, Cocoon has affirmed its
position as Vietnam's leading vegan cosmetics brand in the international
market.
 The main strategy in this phase is to improve product quality, develop new
products that suit consumer needs, and expand into new product segments.
Product diversity is also a factor in Cocoon's success.
d. Decline stage:
- Currently Cocoon has not entered the decline stage, they are developing
sustainably through a series of strategies to develop their products more, pay more
attention to consumer needs, and improve product quality to aim for leading
domestic and international vegan products.
3. Cocoon’s achievements:
- Pioneer for vegan cosmetics in Vietnam
- The most popular vegan cosmetics brand in Vietnam
- Received many prestigious awards in the field of cosmetics and business
- Has an increasingly large number of loyal customers.
- Contribute to raising awareness about vegan cosmetics and green lifestyle in
Vietnam.
-
4. Conclusion about Cocoon's products life-cycle:
- Cocoon is a successful vegan cosmetics brand with a clear and effective
development strategy. Cocoon has proven its ability to adapt to the market and
always innovate to meet the increasing needs of customers. With unremitting
efforts, Cocoon promises to continue to achieve more success in the future.
- Some things you can refer to from Cocoon:
· Clearly define development goals and strategies: Cocoon has had a clear
development strategy since its inception, which helps the company orient
its operations and make the right decisions.
· Focus on product quality: Cocoon always focuses on developing high
quality products that are safe for the skin and the environment. This is a key
factor that helps Cocoon build trust with customers and achieve success
· Build a strong brand: Cocoon has built a strong brand through effective
marketing activities and a commitment to safe, benign products.
· Sustainable Development: Cocoon is committed to sustainable development
by using natural materials and participating in environmental protection
activities.