BỘ GIÁO DỤC VÀ ĐÀO TẠO

TRƯỜNG ĐẠI HỌC THƯƠNG MẠI

TRƯỜNG ĐẠI HỌC THƯƠNG MẠI

THUONGMAI UNIVERSITY

BÀI THẢO LUẬN

ĐỀ TÀI : COCOON BUSINESS ANALYSIS
Mã học phần: 23105SMGM0111E
Nhóm: 5
Bao gồm thành viên :
Đỗ Minh Ngọc 21K620091
Nguyễn Thị Bảo Ngọc 21K620092
Nguyễn Thị Vĩnh Nguyên 21K620093
Khuất Thị Thu Nguyệt 21K620094
Lê Bùi Uyên Nhi 21K620096
Nguyễn Trang Nhung 21K620098
Trần Phương Nhung 21K620097

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Mục lục
I. Introduction………………………………….…3
II. External Environment Analysis…………...….3
III. Industry Environment Analysis………...…...4
IV. Identify core competency and competitive
advantage………………………………………….5
V. Analyze the current strategy that the business
applies…………………………………………...…6
VI. Suggestions for adjusting and supplementing
the current strategy
1. SWOT…………………………………………...7
2. Internal Factor Evaluation (IFE Matrix)…….8
3. External Factor Evaluation (EFE Matrix)…...9
4. Quantitative Strategic Planning Matrix (QSPM
Matrix)……………………………...……9
VII. References……………………………………9

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I. Introduction
- Cocoon is a pioneering vegan cosmetic brand in Vietnam, with a commitment to not
using ingredients of animal origin and not testing on animals.
- It was born in 2013, once known to many consumers for its benign natural products,
in the past 3 years, the name Cocoon has suddenly attracted attention in the domestic
beauty market, not only because the packaging is renewed beautifully and carefully,
but also because the humanistic messages are depicted more and more clearly.

II. External Environment Analysis

- Political factors: Vietnam's legal framework for cosmetics and personal care
products is overseen by the Ministry of Health. All cosmetic products must be
registered with the Ministry of Health before they can be sold in the country. The
government has also implemented various policies and regulations to encourage the
development of the domestic cosmetic industry. However, there are still issues with
counterfeit products, which can affect the reputation of legitimate companies like
Cocoon cosmetics.
- Economic factors: Cocoon cosmetics operates in the cosmetic industry, which is
considered to be a luxury and non-essential item in Vietnam. The Vietnamese
economy has been growing rapidly, leading to an increase in disposable income
among the middle class, which could lead to an increase in demand for luxury
cosmetics. However, the economic impact of the COVID-19 pandemic has had a
significant effect on the Vietnamese economy, leading to a decrease in consumer
spending and an increase in unemployment. This could potentially affect the sales
and revenue of Cocoon cosmetics.
- Social factors: Vietnam's beauty culture is heavily influenced by Korean beauty
trends, with a strong emphasis on skincare and natural beauty. Cocoon cosmetics
offers a range of natural and organic skincare products, which could appeal to
Vietnamese consumers who value natural and healthy lifestyles. There is also a
growing trend towards sustainability and eco-friendliness, which Cocoon cosmetics
could capitalize on by emphasizing their commitment to ethical and environmentally-
friendly practices.

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- Technological factors: Technology has played a significant role in the growth of the
cosmetics industry in Vietnam, particularly e-commerce. Vietnamese consumers are
increasingly using e-commerce platforms to purchase cosmetics, which has led to the
growth of online cosmetics retailers. Cocoon cosmetics could potentially benefit
from this trend by developing their online presence and investing in e-commerce
platforms.
- Legal Factors: Vietnam has a civil law system, which means that laws are primarily
based on written statutes rather than case law. The country has made significant steps
in improving its legal framework to attract foreign investors, but there are still
challenges. Cocoon company must ensure compliance with labor laws and
regulations, tax laws, and intellectual property laws in Vietnam. Additionally,
contract enforcement can be challenging, and resolving disputes can be time-
consuming and costly.
- Environmental Factors: Vietnam is home to diverse ecosystems, and environmental
concerns are increasingly critical in the country. Environmental pollution,
deforestation, and climate change are huge issues that Cocoon company may need to
address. The company will need to ensure compliance with environmental
regulations and standards and may need to invest in sustainable practices to reduce its
environmental impact. Additionally, the company must consider the impact of
climate change on its supply chain and business operations. For example, the
increasing frequency of natural disasters can disrupt supply chains and operations.

III. Industry Environment Analysis

- Porter's Five Forces analysis is a framework used to analyze the competitive

intensity of an industry and the attractiveness of the market for a business. Here is an
analysis of Porter's Five Forces for Cocoon Cosmetics in Vietnam:
+ The Product Not Tested on Animals: Cocoon cosmetics company's commitment to
not testing their products on animals is a significant advantage in the market.
Consumers are becoming increasingly aware of the impact their purchasing decisions
have on animal welfare, and are demanding more ethical and sustainable products.
Additionally, this commitment may help Cocoon cosmetics company differentiate
themselves from the competition, and attract a loyal customer base that values ethical
and sustainable practices.
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+ Bargaining Power of Suppliers: The bargaining power of suppliers for raw
materials is moderate in the cosmetics industry in Vietnam. The suppliers have some
bargaining power as the industry requires high-quality ingredients, but there are
numerous suppliers available, reducing the supplier's power.
+ Bargaining Power of Buyers: The bargaining power of buyers is high in the
cosmetics industry in Vietnam. Consumers have many options to choose from, and
they can easily switch to another brand if they are not satisfied with the product or
the price.
+ Threat of Substitutes: The threat of substitutes is moderate in the cosmetics
industry in Vietnam. There are many products available that can be used instead of
cosmetics, such as natural remedies or traditional beauty treatments. However,
cosmetics are widely accepted and in high demand, reducing the threat of substitutes.
+ Competitive Rivalry: The cosmetics industry in Vietnam is highly competitive,
with numerous domestic and international players. The industry has several well-
established brands, making it challenging for new entrants to compete. Therefore, the
competitive rivalry is high.
- Overall, the cosmetics industry in Vietnam presents several challenges for Cocoon
Cosmetics. The high threat of new entrants and the high competitive rivalry require
the company to differentiate their products and branding effectively. The company
needs to work on reducing the bargaining power of suppliers and building brand
loyalty among buyers to succeed in the Vietnamese market.

IV. Identify core competency and competitive advantage

1. Competitive Advantage:
- Cocoon Cosmetics in Vietnam has several competitive advantages that enable it to
differentiate its products from those of its competitors. One of the main competitive
advantages of Cocoon Cosmetics is its focus on natural and organic ingredients. The
company sources high-quality ingredients from reputable suppliers to ensure that its
products are of the highest quality. This focus on natural and organic ingredients
differentiates Cocoon Cosmetics from many of its competitors, who use synthetic
ingredients.

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- Another competitive advantage of Cocoon Cosmetics is its strong brand image. The
company has a reputation for producing high-quality and effective products, which
has helped to build brand loyalty among consumers. This strong brand image helps to
differentiate Cocoon Cosmetics from its competitors and attract customers who are
looking for high-quality, natural cosmetic products.
2. Core Competence
- Cocoon Cosmetics in Vietnam has several core competencies that contribute to its
success. One of its core competencies is its ability to source high-quality natural
ingredients from reputable suppliers. The company has built strong relationships with
its suppliers, allowing it to ensure a consistent supply of high-quality ingredients.
- Another core competency of Cocoon Cosmetics is its focus on product innovation.
The company invests heavily in research and development to create new and
innovative products that meet the changing needs of its customers. This focus on
innovation has helped Cocoon Cosmetics to stay ahead of its competitors and
maintain its market position.
- Cocoon Cosmetics also has a core competence in branding and marketing. The
company has developed a strong brand image and has successfully marketed its
products to its target customers. This core competence has helped Cocoon Cosmetics
to differentiate its products from those of its competitors and build brand loyalty
among its customers.

V. Analyze the current strategy that the business applied

- Cocoon Cosmetics' current strategy in Vietnam appears to be focused on product
development through the use of natural and organic ingredients and a strong focus on
product innovation. The company has positioned itself as a premium cosmetic brand
that offers high-quality and effective products to its target customers.
- In terms of product development, Cocoon Cosmetics has built a reputation for using
natural and organic ingredients in its products. This focus on natural ingredients
allows the company to differentiate itself from many of its competitors, who use
synthetic ingredients. The company also emphasizes the use of locally-sourced
ingredients and eco-friendly packaging, which aligns with the growing consumer
trend towards sustainable and environmentally-friendly products.

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- Cocoon Cosmetics' strategy also includes a strong focus on product innovation. The
company invests heavily in research and development to create new and innovative
products that meet the changing needs of its customers. This focus on innovation has
helped the company to stay ahead of its competitors and maintain its market position.
VI. Suggestions for adjusting and supplementing the current strategy
1. SWOT
* Strengths:
- Commitment to using natural, organic, and vegan ingredients in their products,
which appeals to consumers looking for healthier and more ethical options.
- Strong marketing strategy focused on social media and influencer marketing, which
has helped to build brand awareness and attract new customers.
- Affordable pricing, which makes Cocoon cosmetics accessible to a wider range of
consumers, particularly in Vietnam where price is an important factor for many
buyers.
* Weaknesses:
- Limited product range, which may limit the appeal of the brand to some consumers
who are looking for more variety in terms of skincare and cosmetics options.
- Limited distribution channels, as Cocoon cosmetics are primarily sold online and in
their own physical stores, which may limit the brand's exposure to consumers who
prefer to purchase from larger retail chains.
- Limited brand recognition and awareness outside of Vietnam, which may make it
difficult for Cocoon to expand internationally and compete with larger, more
established beauty brands.
* Opportunities:
- Growing demand for natural and organic skincare and cosmetics products globally,
which presents an opportunity for Cocoon to expand its market reach beyond
Vietnam.
- Increasing interest in vegan and cruelty-free products, which aligns with Cocoon's
brand values and could help to attract new customers who prioritize ethical
consumption.
- Growing popularity of e-commerce and online shopping in Vietnam and globally,
which presents an opportunity for Cocoon to expand its online sales channels and
reach a wider audience.
* Threats:
- Intense competition in the skincare and cosmetics industry, particularly from larger,
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more established brands with greater resources and marketing budgets.
- Economic instability and uncertainty in Vietnam and globally, which could impact
consumer spending on non-essential products such as skincare and cosmetics.
- Changing consumer preferences and trends, which could impact the popularity and
relevance of Cocoon's brand values and product offerings over time.
2. Internal Factor Evaluation (IFE Matrix)

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3. External Factor Evaluation (EFE Matrix)

4. Quantitative Strategic Planning Matrix (QSPM Matrix)

VII. References
1. Cocoon Cosmetics Vietnam official website: https://cocooncosmetics.vn/

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2. "Vietnam Economic Outlook," FocusEconomics, https://www.focus-
economics.com/countries/vietnam
3. "Regulations and Standards for Cosmetics in Vietnam," ChemLinked,
https://cosmetic.chemlinked.com/regulatory-landscape/regulations-and-standards-for-
cosmetics-in-vietnam
4. "Beauty and Personal Care in Vietnam," Euromonitor International,
https://www.euromonitor.com/beauty-and-personal-care-in-vietnam/report
5. "Vietnam's middle class drives consumption," The ASEAN Post,
https://theaseanpost.com/article/vietnams-middle-class-drives-consumption
6. "Vietnam's E-Commerce Market: Trends and Opportunities," Vietnam Insider,
https://vietnaminsider.vn/vietnams-e-commerce-market-trends-and-opportunities/
7. "Vietnam's Trade Agreements," Invest in Vietnam,
https://investinvietnam.gov.vn/industries/trade/vietnams-trade-agreements/
8. Research and Markets. (2021). Vietnam Cosmetics Market: Prospects, Trends
Analysis, Market Size and Forecasts up to 2025.
https://www.researchandmarkets.com/reports/5235351/vietnam-cosmetics-market-
prospects-trends
9. Porter, M. E. (2008). The Five Competitive Forces That Shape Strategy. Harvard
Business Review, 86(1), 78–93. https://hbr.org/2008/01/the-five-competitive-forces-
that-shape-strategy
10. "Vietnamese Shoppers Lured by Korean Organic Cosmetics." VnExpress
International, 4 June 2019,
https://e.vnexpress.net/news/business/industries/vietnamese-shoppers-lured-by-
korean-organic-cosmetics-3938347.html
11. Euromonitor International, "Beauty and Personal Care in Vietnam" (2021):
https://www.euromonitor.com/beauty-and-personal-care-in-vietnam/report

BIÊN BẢN ĐÁNH GIÁ THẢO LUẬN

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 Môn Quản trị chiến lược
Giảng viên:
Lớp: 23105SMGM0111E

Lần 1:

Điểm Phân công

nhóm
STT theo Họ và tên sinh viên Mã SV
trưởng
danh sách chấm

21K620091 - Political
1 Đỗ Minh Ngọc B

21K620092 - Economic
2 Nguyễn Thị Bảo Ngọc A
- PowerPoint
- Tích cực đóng góp ý
kiến

21K620093 - Economic
3 Nguyễn Thị Vĩnh B
Nguyên

21K620094 - Technological
4 Khuất Thị Thu Nguyệt B

21K620095 - Social
5 Đỗ Yến Nhi B+
- Tích cực đóng góp ý
kiến

21K620096 - Social
6 Lê Bùi Uyên Nhi A
- Thuyết trình

21K620098 - Legal
7 Nguyễn Trang Nhung B+
- Word
- Tích cực đóng góp ý
kiến

21K620097 - Enironmental
8 Trần Phương Nhung B

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Lần 2:

Điểm Phân công

STT Họ và tên sinh viên Mã SV nhóm

theo
trưởng
danh
chấm
sách

21K620091 - Analyze the current

1 Đỗ Minh Ngọc B
strategy that the business
applies
- Thuyết trình

21K620092 - Introduction
2 Nguyễn Thị Bảo Ngọc A
- External Environment
Analysis
- Tích cực đóng góp ý kiến
- Thuyết trình

21K620093 - Industry Environment Analysis

3 Nguyễn Thị Vĩnh Nguyên B
- Thuyết trình

21K620094 - Industry Environment Analysis

4 Khuất Thị Thu Nguyệt B
- Thuyết trình

5 21K620096 - Suggestions for adjusting and

Lê Bùi Uyên Nhi B+
supplementing the current
strategy
- Powerpoint
- Thuyết trình

21K620098 - Introduction
6 Nguyễn Trang Nhung B
- External Environment
Analysis
- Word
- Thuyết trình

21K620097 - Identify core competency and

7 Trần Phương Nhung B
competitive advantage
- Thuyết trình

Nhóm trưởng

12
 Nguyễn Trang Nhung

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