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Marketing Report | INNISFREE | 8.2
Principles of Marketing (Trường Đại học Kinh tế Thành phố Hồ Chí Minh)
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STUDENT DETAILS
Student
name:
Hồ Lê Phương Nghi
Student
name:
Lê Thị Thanh Huyền
Student
name:
Đỗ Hoàng Thuỳ Anh
Student
name:
Đoàn Thái Sơn
Student
name:
Nguyễn Hoàng Phúc
Student ID
number:
Student ID
number:
Student ID
number:
Student ID
number:
Student ID
number:
ISB21000009
21001066
21000475
WSU21000282
21000420
UNIT AND TUTORIAL DETAILS
Unit
Unit
name:
Principle of Marketing
number:
PMk-T321PWB-2
Tutorial/Lectur
e:
Class day and time:
12:00 – 15:15
Lecturer or Tutor
name:
Ms. Nguyen Thu Huong and Mr. Ngo Viet Liem
ASSIGNMENT DETAILS
Title:
Length
:
Group Project – Marketing report: Innisfree Marketing Project
Due
Date
2737 words date:
07/12/2021
submitted:
07/12/2021
DECLARATION



I hold a copy of this assignment if the original is lost or damaged.
I hereby certify that no part of this assignment or product has been copied from any other
student’s work or from any other source except where due acknowledgement is made in the
assignment.
I hereby certify that no part of this assignment or product has been submitted by me in
another (previous or current) assessment, except where appropriately referenced, and
with prior permission from the Lecturer / Tutor / Unit Coordinator for this unit.
No part of the assignment/product has been written/ produced for me by any other
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I am aware that this work may be reproduced and submitted to plagiarism detection
software programs for the purpose of detecting possible plagiarism (which may retain a
copy on its database for future plagiarism checking).
Student’s
Hồ Lê Phương Nghi
signature:
Student’s
Lê Thị Thanh Huyền
signature:
Student’s
Đỗ Hoàng Thuỳ Anh
signature:
Student’s
Đoàn Thái Sơn
signature:
Student’s
Nguyễn Hoàng Phúc
signature:


Note: An examiner or lecturer / tutor has the right to not mark this
assignment if the above declaration has not been signed.
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GROUP WRITTEN REPORT
Course: Principles of Marketing
Lecturer: Nguyen Thu Huong
Tuesday, December 7th, 2021
JUICY SMOODIES - PWB 2
Member
Student ID
Hồ Lê Phương Nghi
ISB21000009
Lê Thị Thanh Huyền
21001066
Đỗ Hoàng Thuỳ Anh
21000475
Đoàn Thái Sơn
WSU21000282
Nguyễn Hoàng Phúc
21000420
3
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MARKETING REPORT
BRAND: INNISFREE
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Table of Contents
A. Executive Summary...................................................................................................................... 3
B. Market Overview.......................................................................................................................... 3
I. Company Profile........................................................................................................................ 3
II. Business Portfolio..................................................................................................................... 4
III, Competitive Environment........................................................................................................5
IV. Market Situation...................................................................................................................... 6
C. SWOT ANALYSIS........................................................................................................................ 8
I. SWOT Analysis.......................................................................................................................... 8
II. Company Objectives................................................................................................................. 8
D. STDP ANALYSIS:........................................................................................................................ 9
I. Segmentation and Targeting.......................................................................................................9
II. Positioning and Differentiation................................................................................................11
E. Marketing Mix (4Ps)................................................................................................................... 12
F. Action Program........................................................................................................................... 13
G. Budgets...................................................................................................................................... 15
H. Implementation & Control......................................................................................................... 15
I. Conclusion................................................................................................................................... 15
J. Reference list............................................................................................................................... 16
K. Appendix.................................................................................................................................... 19
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A. Executive Summary
Innisfree, the Naturalism No.1 brand owned by South Korea's largest cosmetics company
Amore Pacific Corporation, is getting increasingly well established and experienced in many
countries, including Vietnam.The company considers that Vietnam is a potential market for foreign
companies to operate business due to the friendly policies and higher living standard. Furthermore,
Korea’s K-beauty brands are sweeping the global market and winning over the Vietnamese
cosmetics market. Thus, Innisfree's entry into the market has made them become one of the top
well-known Korean brands in Vietnam with a wide range of products.
The main objective of our research is to study the vital factors in the Vietnamese skin care
market, explore marketing methods, and unlock new opportunities for Innisfree. The research
results will contribute to identifying and improving the shortcomings in the process of serving
customers and promoting the strengths so that the brand can compete with large corporations in the
industry and maintain the brand's position in the market.
B. Market Overview
I. Company Profile
1. Company background
Innisfree was founded by Amore Pacific in 2000, aiming at creating naturally-friendly
products from ingredients originated in Jeju Island. The brand name was inspired by a poem of Irish
poet ,“The Lake Isle of Innisfree”. Since the beginning, Innisfree spread the belief that clean nature
and healthy beauty can coexist in harmony and that ideology has been well-carried and perfected
over time. Initially, the main target is to generate convenience and comfort for the Millennials, but
as the firm grows, at the moment they are currently shifting into producing goods for the new
potential customers, which are the Gen Z. Innisfree is a hero brand for AmorePacific and as such
has been a key element of the group’s ongoing global expansion plans.
2. Company strategy intent
+ Mission statement
Innisfree - the pure island where clean nature and healthy beauty coexist in harmony. We share the
benefits of nature from Jeju island for vibrant beauty and pursues an eco-friendly green life to
preserve the balance of nature.
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+ Vision
Innisfree is a natural brand chasing "smart consumption" by offering a variety of high-quality items
at reasonable prices. Innisfree wants to be the world's most recognized naturalistic brand.
+ Core value
Naturalism-oriented brand representing Korea
Environment friendly
Pure materials
II. Business Portfolio
1. Products portfolio:
Innisfree is aiming at offering an exhaustive care for our customers, which is well-represented in
three outstanding categories: Skin Care, Make Up and Body&Hair.
* Although providing a wide range of products for overall caring, Innisfree is gaining its major
profits from Skincare, especially Green Tea. Almost no consumers talk about Innisfree without
acknowledging the existence of this cult-favorite product, as well as talking about such product
types without mentioning Innisfree. Therefore, this report will set Innisfree’s Green Tea Seed
Serum as the target object when discovering the brand.
* Innisfree’s introduction of these products has been considerably successful by having their own
position in customers' minds whenever the keywords “green tea”, “serum” are mentioned. However,
compared to their reputation, there are more and more competitives coming up with the perfect
alternatives with high/higher quality and at an affordable/cheaper cost. To keep their image
unchanged, the brand should consider changing slightly in how they create the products.
2. Service Portfolio:
Innisfree's services are diverse, ranging from delivery services to seasonal gifts. With a
dedication in understanding and taking care of customers, Innisfree always strives to provide
customers with the best experience.
III. Competitive Environment
1. Competitors
South Korean beauty firms have established themselves as market leaders in Asia's cosmetic
sectors, and Vietnam is no exception. In fact, the popularity of K-beauty products is among the
highest in Vietnam. Meanwhile, local enterprises have yet to make a significant impact due to
severe competition and a high consumer preference for multinational goods.
Comparison Table
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Small cosmetics stores and online shops (often unregistered ones) where fake and branded products
are mixed or low-recognized, hand-carried ones are sold bargain.
2. Consumer
Vietnamese consumers often look for products with 4 main characteristics:
- Products with famous brands and origins
- Sold in official stores.
- Contains organic, eco-friendly ingredients
- Low price
Therefore, Innisfree wants to serve and satisfy all customers' needs by producing the suitable
products for a group of clients: from 15 to 30 years old, with the core message that is "Not only
delivering natural healthy beauty to customers, we are also working to bring sustainable beauty
value to the environment.”
IV. Market Situation
According to research recorded in Market of The Future (2016), Vietnam leads the fastest growing
beauty and personal care market in Asia. This is demonstrated by around 90% of imported
cosmetics sold in Vietnam and only 10% of domestic brands (Vietnam Chemical Cosmetics
Association 2016), which means that today the demand for personal care and beauty has increased
significantly, especially in Hanoi and Ho Chi Minh City.
- Market size:
According to AMR, the Vietnam skin care products market size was valued at $768.1 million in
2020, and is expected to garner $1,922.4 million by 2027, registering a CAGR of 11.7% from 2021
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to 2027. The skin care products market exhibits an incremental revenue opportunity of $1,154.25
million from 2020 to 2027.
- Market growth:
According to Yano Research Institute (Japan), in 2018, the Vietnamese cosmetic market reached a
value of 2.35 billion USD, having the fastest growth rate in Southeast Asia. It is expected that in the
next 10 years, the growth rate of Vietnam's skin care and makeup cosmetics market will be about
15% - 20% per year.
- Market share:
Data from the Vietnam Association of Cosmetics - Aromatherapy and Essential Oils shows that
there are currently 400 cosmetic businesses, including 100 foreign ones. Most of the mid-to-highend global cosmetic brands such as L'Oreal, The Faceshop, Dior, .... have all joined the Vietnamese
market. In terms of coverage and consumer preference, Korean cosmetics accounted for 30% of the
market share, the EU ranked second with 23%, followed by Japan 17%, Thailand 13%, the US 10%
and the remaining 7% belong to other countries.
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C. SWOT ANALYSIS
I. SWOT Analysis
STRENGTHS
- Middle price
- Use of Eco-friendly campaigns
- Organic ingredient from Jeju island
OPPORTUNITIES
- Territorial expansion
- Korean wave and Korean beauty
- New cosmetic trend (natural and organic
ingredients).
WEAKNESSES
- The packaging is not as attractive and eye-catching as
competitors’
- Not suitable for all types of skin, especially the sensitive
one.
- Not suitable for the weather in VN
THREATS
- High power of substitute products with similar functions.
- The weather condition of Vietnam is not as dry as South
Korea.
- Counterfeits and low-quality products are rampant in
Vietnam markets
Innisfree's core problem in their best seller product, The Green Tea Seed Serum, is its cosmetic
formula. Although it was announced on the official website that they have reduced the fragrance by
70% and upped the effective ingredients and green tea derived formula by 79% compared to the
previous version (2019), the position of the two ingredients, alcohol denat and fragrance, is still
ahead of CAMELLIA SINENSIS leaf extract. This means that this product will irritate and cause
abrasion, weaken the skin and make it more susceptible to infection.
=> Job to be done: In order to tackle the Innisfree core problem, first, the marketing department
should work with the R&D department to develop a new product which not only suitable for
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different skin types, especially the sensitive skin, but also improve the appearance of uneven skin
tone and anti-aging. Subsequently, we suggest Innisfree launch a campaign for special occasions,
such as Tet, to promote this new product, based on the segmentation that Innisfree is targeting.
II. Company Objectives
According to the 3rd quarter financial report of A/P, Innisfree, especially in Asia, has decreased by
57%, which does have some effects on the company's business objectives. The details will be
declared as follows:
Business Objectives:
+ Achieve a significant growth of 150% in sales within 12 months
+ Increase market share by 5% within 12 months
+ Increase market growth by 15% from 2021 to 2028
+ Increase interests by 25% within a year
Marketing Objectives
+ Ensure the steady growth of Innisfree in 2020-2022 in Vietnam with an annual increase of at
least 10%.
+ Increase customer loyalty by 40%
+ Achieve at least 90% excellent customer service rating each month
+ Increase the frequency of customers using the product by 35%
Communication Objectives
+ Increase visitor numbers to the website about 40% during 12 months.
+ Improve brand recognition by 35% amongst the 15 – 25 age group.
+ Increase the proportion of sales from male customers.
D. STDP ANALYSIS:
I. Segmentation and Targeting
● Vietnam population: As of December 31, 2020, the population of Vietnam is estimated at
97,757,118 people.
● In Vietnam, the cosmetics market generated approximately 477 million U.S. dollars in
revenue in 2020.
● 79% use skincare products once/week or more often, in which 53% do skincare everyday.
30+ years old and 20M+ VND income use skincare products more often.
Innisfree’s main target customers are young people who come from 15 to 30, which account for
45% in total (United Nation, Department of Economic and Social Affairs in Vietnam, 2015).
GEOGRAPHIC
DEMOGRAPHIC
BEHAVIOURAL
PSYCHOLOGICAL
Mostly in dense
cities such as
HCM city,
Hanoi, etc and
- Age: 15-30
- Gender: Both
- Income:
Low to middle
- Frequency: Everyday
- Purchase Patterns:
+ Prefer low-priced
cosmetic products but
- Lifestyle: They are interested in
Korean culture and beauty. They
are concerned about healthy
lifestyle and eco-friendly
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some in rural
areas.
high quality, nice
packaging, skinfriendly, eco-friendly
products.
+ They are attracted by
the store layout.
+ Buying decisions are
often influenced by
friends, influencers and
online information.
- Loyalty: Satisfied or
Habitual Buyers
approach of a product. They
continually seek for a suitable
product.
- Personality: Trendy, openminded, youthful and outgoing.
- Perception: Up to date, best
product quality, unique concept,
more options with variety
product range, promotion,
events, small budget.
Buyer Persona - Ms. Katherine Dan
II. Positioning and Differentiation
1. Positioning
Innisfree’s main objective is to position itself as the best Korean naturalism-oriented brand
providing organic mid-priced products.
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Innisfree has some core principles that they cherish in their marketing strategy. First, they try to
maintain the reputation of a natural brand. Second, they demonstrate green eco-friendly behavior to
make sure to contribute to the environment.
Finally, they have a strong positioning and clear understanding of their ideal buyer persona. They
aim for the ‘trendy’ and ‘public’ criteria by developing a product that is friendly to most markets
and can be used popularly.
Positioning Map:
Positioning statement:
For middle-class consumers who are not only looking for a natural skincare product but also
environmentally conscious, Innisfree is the only brand among all the cosmetic brand that offers an
eco-friendly and high-quality skincare product with an affordable price because our products are
made from the best of nature's ingredients sustainably sourced from Jeju and features reusable and
recyclable packaging.
2. Differentiation
To be differentiated from other natural skincare brands, Innisfree makes themselves unique with a
strategic global brand guideline by re-defining Innisfree's brand central idea, design strategy, their
own set of symbolic colors (innisfree green + secondary colors), supergraphics and brand story
contents based on their JEJU Island heritage. As a result, Innisfree could secure their position as an
outstanding natural skincare brand with such price and product value in the global market.
E. Marketing Mix (4Ps)
Performance
Product
1. Core product:
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A product with natural components that can help people with almost skin types, even
dry skin or special skin problems to be handled effectively.
2. Actual product:
Product’s name:
Green tea seed serum (Skin Healing Version)
Packaging:
● Fresh and simple outlook
● Iconic green tones
● Nature friendly (Recycled plastic bottles with eliminated lids)
-> Decrease 13,8% of plastic.
Ingredients & Technologies:
● Use Jeju fresh tea water as the basis instead of pure water.
● Fragrance-free & Alcohol-free
● 5 NOs: no parabéns, no mineral oil, no animal ingredients (cruelty-free), no
artificial color, no imidazolidinyl urea
● 5 types of Hyaluronic Acid
● Dual Moisture-Rising TechnologyTM
3. Augmented product:
- Bonus point for purchasing products on website
- Early bird discount 10%
- Innisfree special gift sets
- Exchange & Refund Policy
Price
The Customer Value-Based Pricing is our main pricing strategy which is directed
towards bringing value to customers, offering reasonable prices which, first, in
accordance with the perception of customers.
Besides, we would like to adopt a value-added pricing strategy, in which it sets the price
based on costs.
We also use the discount and allowances pricing strategy for the new product by
offering a set of products with discounted prices, especially on special occasions.
Place
● Display products at brand shops and official stores in large shopping centers
(Vincom, Aeon Mall, etc.) and around densely populated areas.
● Connect with customers via the internet by providing full information about the
product as well as online shopping services through their website, app and famous ecommerce sites (Shopee, Lazada,...)
Promotion
Make use of the promotion mix that can facilitate the mentioned communication
objectives.
F. Action Program
Target audience:
- People in the 15-30 age group. They follow modern lifestyle trends and are often exposed to
social media platforms.
- Consumer insight:
+ Care about products containing natural ingredients and having eco-friendly packaging
+ Want to use products that are safe for sensitive skin
+ Usually shop on special occasions (e.g Tet holiday) because there will be discounts and
great deals
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-
I.
II.
+ Often find information about products through e-commerce sites, social media platforms
and are influenced by KOLs.
Customer touch-points:
+ Social Media
+ Online Advertisement
+ Digital Marketing Content
+ Company Events
+ Product Reviews
+ Shopping malls & Official stores
+ A word-of-mouth mention by friends or acquaintances
Big idea
1. Headline
Bestea for your skin, Bestie for our nature.
Rạng Ngời Đón Xuân cùng Innisfree.
2. Key message & Key visual
We strive not just for our skin but for everything that coexists with us towards more
sustainable beauty.
We use the image of the product and the appearance of Giang Oi as the highlight for the
poster. We provide information related to Tet products and projects, which helps to attract
customers' attention.
On the poster will be attached a QR code that leads customers to the site where they get
vouchers.
IMC Plan
Phase 1
Phase 2
Phase 3
Marketing
Funnel
Discovery
Consideration
Purchase
Objectives
- Announce
- Attract awareness
- Trigger curiosity.
- Convince buyers that the
product is outstanding
- Provide deeper information of
the product
- First buy, then repurchase
- Build loyalty.
- Make loyal customers
urge sales by distributing
nice images.
Key Hook
Series posts
Music video
Tik Tok promotion
Demo/ Free trials, Events
Ambassador
Consumer feedback group
Emails
Series posts
G. Budgets
Total estimated budget for the promotion campaign: Approximately 2.3 billion VND
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H. Implementation & Control
Tactic
Implementation plan
Cost
New release
on Tet
Holiday
Research into Tet Holiday;
developing promotion offers.
Costs consist of
a) product development expenses;
b) manufacturing costs;
c) campaign launch expenses.
Design
Research into customer trends;
seeking partnership and
collaboration, negotiations;
product development
a) product development expenses;
b) manufacturing costs.
Cultivating
Customer
online
shopping
experience
Research into customers’
preferences; analysis of site
metrics; technical work;
testing.
a) product development expenses;
b) site maintenance expenses
Cultivating
customer
offline
experience
Research into customers’
preferences; analysis of
relevant metrics; prototyping a
new product; technical work;
testing.
a) product development expenses;
b) store maintenance expenses
Control
measures
Sales numbers,
views, reviews
bounce rate, site
metrics,
satisfaction rate.
I. Conclusion
Innisfree is one of the most famous Korean cosmetics brands that is currently gaining ground on the
Vietnamese beauty market. Innisfree defines itself as a No.1 naturalism-oriented brand with a
variety of modern and reasonable products originating from Jeju Island. The best-selling product of
this brand is the Green Tea Seed Serum. Although it is outstanding among the brand’s products,
Innisfree needs more than that to reach further on its target market, which is the reason why we
conduct research to come up with a better version called “Skin Healing Version”, that can perfectly
deliver the previous product’s strengths and overcome its existing weaknesses. Consequently, this
strategic plan can elevate Innisfree’s status on promising markets.
J. Reference list
ABOUT US - INGREDIENTS GREENTEA | innisfree. Innisfree website.
https://www.innisfree.com/sg/en/BrandPage.do?pageName=brand_ingredients&pageValue=greentea
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https://www.apgroup.com/int/en/investors/amorepacific-corporation/ir-reports/quarterly-results/quarterlyresults.html
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Call Me Duy. (2020, August 14). đồ INNISFREE dùng có tốt?. Youtube.
https://www.youtube.com/watch?v=a3xmA1XNQpk
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VnExpress.
https://e.vnexpress.net/news/business/data-speaks/south-korean-pop-culture-drives-vietnam-cosmeticssales-survey-4030278.html
FEEL the GLOW Laneige. Laneige.
https://www.laneige.com/ca/en/brand/feel-the-glow/
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https://studycorgi.com/innisfree-cosmetics-brands-marketing-plan/
innisfree Official Site | Customer Service. Innisfree website.
https://www.innisfree.com/my/en/main/index.do
innisfree Official Site | HELLO E-GREENUS!. Innisfree website.
https://www.innisfree.com/my/en/DirectPage.do?pageName=inni_2020_1006_localnews_my1
innisfree Official Site | MEMBERSHIP GUIDE. Innisfree website.
https://www.innisfree.com/my/en/customer/guide.do
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innisfree Official Site | Natural benefits from JEJU island. Innisfree website.
https://www.innisfree.com/sg/en/BrandPage.do?pageName=brand_value
innisfree Official Site | Products categories. Innisfree website.
https://www.innisfree.com/my/en/main/index.do
innisfree. INBEA.
https://inbea.vn/promotions/61
innisfreevietnam_officialstore. (2021). [Mã COSIF12 giảm 10% đơn 400K] MINISIZE Tinh chất dưỡng ẩm
innisfree Green Tea Seed Serum 30ml. Shopee Mall.
https://3c5.com/UWUNE
Jeju Cosmetics. (2020). Mua mỹ phẩm hàn quốc Innisfree ở đâu tại Việt Nam?. Jeju Cosmetics.
https://jeju.com.vn/mua-my-pham-han-quoc-innisfree-o-dau-tai-viet-nam/
L'Oreal Paris Age Perfect Cell Renewal Midnight Anti-Aging Face Serum with Patented Antioxidant, Smooth
Wrinkles, Firm, Revitalize + Eye Cream Samples, 1 kit., Amazon.
https://www.amazon.com/LOreal-Paris-Anti-Aging-Antioxidant-Revitalize/dp/B09B1FLKFT
L'Oreal Paris Skincare Age Perfect Cell Renewal Golden Face Serum, Anti-Aging Serum to Refine, Exfoliate
and Replump Mature Dull Skin, 1 fl. oz. Amazon.
https://www.amazon.com/LOreal-Paris-Skincare-Anti-Aging-Exfoliate/dp/B00LIBJ7U4?th=1
Linh Pham Thi Thuy. (2016, August 15). INNISFREE MARKETING PLAN. PDFCOFFEE.
https://pdfcoffee.com/innisfreemarketingplandocx-pdf-free.html
Ngoc Hoa. (2021, July 30). Vietnam Skin Care Products Market. beautycarexpo.
https://beautycarexpo.com/en/vietnam-skin-care-products-market/
Pham Linh. (2016, August 15). Innisfree Marketing Plan. Academia.
https://www.academia.edu/27589067/Innisfree_Marketing_Plan
The bread and butter. (2018, January 29). innisfree global brand guideline. Behance.
https://www.behance.net/gallery/61435203/innisfree-global-brand-guideline
Thủy Linh. (2016, October 13). Những hãng mỹ phẩm bị nhái nhiều nhất tại Việt Nam!. SAOstar.
https://saostar.vn/dep/nhung-hang-pham-bi-nhai-nhieu-nhat-tai-viet-nam-831781.html
Tinh Chất Bổ Sung Độ Ẩm Tối Ưu Cho Làn Da Mịn Màng, Căng Bóng Laneige Water Bank Moisture
Essence. The gioi SkinFood.
https://thegioiskinfood.com/products/laneige-water-bank-moisture-essence-70ml
Tinh Chất Dưỡng Ẩm Cho Da Dầu Và Da Hỗn Hợp Laneige Water Bank Hydro Essence 30ml. Laneige.
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https://www.laneige.com.vn/laneige-water-bank-hydro-essence-30-ml.html
Tinh chất trà xanh dưỡng ẩm innisfree Green Tea Seed Serum 80mL., Innisfree website.
https://3c5.com/UYYRT
Vahagn Bazikyan., (2021, August 29)., Marketing Strategy and SWOT analysis of Innisfree. The Social
Grabber.
https://thesocialgrabber.com/marketing-strategy-and-swot-analysis-of-innisfree/
Wikipedia, the free encyclopedia., (2021, November 17)., Innisfree (brand). Wiki2.
https://wiki2.org/en/Innisfree_(brand)
K. Appendix
1. Peer Evaluation
Name
Phương Nghi
Performance
100%
Group Task Allocation
- Executive Summary
- SWOT Analysis: Company Objectives
- STDP Analysis: Segmentation
- Marketing Mix: Place
- Action Program
- Implementation & Control
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Thanh Huyền
100%
Thuỳ Anh
100%
Thái Sơn
95%
Hoàng Phúc
100%
- Market Overview: Product Portfolio,
Competitive environment
- STDP Analysis: Differentiation
- Marketing Mix: Product,
- Action Program
- Conclusion
- Market Overview: Company Profile, Market
situation
- SWOT Analysis: SWOT analysis
- STDP Analysis: Positioning
- Marketing Mix: Price
- Budgets
- Executive Summary
- Market Overview: Market situation
- STDP Analysis: Targeting
- Marketing Mix: Promotion
- Budgets
- Market Overview: Company Profile, Service
Portfolio, Competitive environment
- STDP Analysis: Buyer Persona
- Marketing Mix: Promotion
- Budgets
2. Suppporting Analysis
I.
Company profile:
About core value , Innisfree has :
CORE VALUE
Openness
Integrity
Innovation
Proximity
Challenge
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“We are looking
forward to
working with
people who
respect others as
much as they
respect
themselves.”
-We believe that the
truth lies first and
foremost in having
an open mind
toward the outside
world. -We are, to
one another and to
customers, neither
commanders nor
instructors, but
listeners and
guides. As our
surroundings
change, so should
we.
“No matter what we
do for customers,
we should do it as if
it were for our
families and
ourselves.”
-It is as a result of
my actions that I earn
trust from customers.
The foremost
bedrock of a
community and of a
society is respect and
etiquette.
“We should remain
open to the
possibility of
changing.”
-We should change
and adapt, lest we fall
behind and become
obsolete. We pride
above all else our
passion to put
something new into
the world.
“ We need to be
always accessible to
our customers for
their diverse
needs.”
- We need to take
matters that concern
our customers as if
they are our own. We
pursue harmony and
friendship on an
equal footing.
“ We must refuse
to be complacent”
-We must joyfully
embrace the
unfamiliar and the
new. We must
dedicate ourselves
to beating our
competition and
rising victorious
over everyone else.
Green Core Values
Responsibly sourced naturallyderived ingredients without
harmful chemicals and
preservative
Environment - friendly
campaigns
II.
Give back to the Earth and
the community
Business portfolio:
Product Portfolio:
Skin Care
(Cash generation: Star)
Make Up
(Cash generation: Questions
mark)
Face
- Foundation
Body & Hair
(Cash generation: Cash cow)
Body Care
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- Base & Primer
- Cushion
- Compact & Powder
- BB/CC
- Blusher
- Shower Gel
- Body Scrub
- Body Moisturizer
Moisturizers
- - Moisturizer
- - Cream
- - Oil & Mist
Lips
- Lipstick
- Lip Tint
- Lip Treatment
Hair Care
- Shampoo
- Conditioner
- Treatment
Serum & Essence
Eyes
- Eyebrow
- Eyeliner
- Eye Shadow
- Mascara
Hand Care
Eye Care
Nail
Toners
Masks
- Wash-off Masks
- Sheet Masks
- Sleeping Masks
Cleansers
- Foaming Cleanser
- Cleansing Oil
Sun Care
Tools
Tools
Green Tea Line
Volcanic Line
Superfood Line
Tools
Bija Line
Lava Sweater Line
Truecare Line
Service Portfolio:
➢ E-greenus Service: Order through WhatsApp
➢ Discount programs: Buy 10 free 5 & Innisfree Gift-cards.
➢ Provide FAQS on the website.
➢ Innisfree Day: A special day where attractive gifts and promotion are up for grab,
exclusively for innisfree members only.
➢ Accepting a wide range of means of paying and shipping methods:
+ Credit Card (VISA, Master Card, American Express (AMEX), JCB)
+ Other Forms of Payment: Zalo Pay, Momo pay, Shopee Pay,...
+ Direct paying methods
➢ Delivering on Innisfree’s promises and giving personal apologies vocationally if anything
goes wrong.
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➢ Customers will receive a thank-you letter after purchasing any product to tribute their
contribution to the revenues and reputation of the brand.
Highlighted Achievements
- In 2014:
Green Eco Campaign: Contributing to reducing carbon emission
Natural Ingredients: Using 70% natural ingredient in skincare
Donation: Returning 1% of annual profit to neighbors, 1.53billion.
- Move Forward Together with Customers and Society
61.1%: Ratio of new products that incorporate the value of environmental or social friendliness.
304.6 tons: Amount of new plastic reduced in packaging.
508,545 persons: Cumulative number of 20 by 20 Commitment beneficiaries (2020)
Core team
Suh Seong Hwan - Founder of Amorepacific Corporation.
Suh Kyung-Bae - President and CEO of Amorepacific Corporation.
Jin-Soo Jeon - Executive Director of Amorepacific Corporation’s, Marketing Division
Jun Sung park - Senior researcher of oriental medicine cosmetics research team
Social responsibility
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Innisfree endeavors to ensure that our customers make a social contribution through practicing
green life.
Innisfree Green Promise: “We are passionate about preserving the purity of Jeju Island and are also
committed to replicating our sustainability and philanthropic efforts there around the globe, making
a meaningful impact everywhere Innisfree is present”.
Innisfree’s 4 pledges include:
●
●
●
●
Promote healthy beauty through natural ingredients
Provide innovative and reasonably-priced skincare solutions for all skin types and concerns
Offer a sensorial escape through the wonders of Jeju Island
Preserve and protect nature’s vitality through eco-conscious initiatives
Innisfree ’s Promotion activities:
INNISFREE FESTA in Vietnam (2017)
GREEN FOREST CAMPAIGN
ECO HANKIE CAMPAIGN
EARLY TET CAMPAIGN
INNISFREE GREEN HOLIDAYS
PLAY GREEN FESTIVAL
PLAY GREEN CLASS in Vietnam
III.
Competitive environment:
In terms of providing skin care products, some worth concerning competitors are:
Large firms providing similar
product lines
+ Korea brands: Nature Republic,
LG Household & Healthcare (with
OHUI, WHOO, Su:m 37,...)
+ Japan’s brands: Shiseido, Kosé,
Anna Sui,...
+ Global brands: Botani, L’Oreal,
Bioderma, Farmaci,...
IV.
Brands under AmorePacific
Cosmetics retail and trading
corporation
+ Sulwhasoo
+ Laneige
+ Mamonde
+ ETUDE HOUSE
….
+ SkinFood
+ The Face Shop
+ The Body Shop
….
Business Objectives
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To come up with such company objectives, we notice that COVID-19 pandemic also has huge
impacts on company’s revenue and profits, particularly:
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Hence, the mentioned objectives will offer the marketing team an in-depth perspective so as to take
the most optimal actions.
V.
STDP process
Segmentation
SEGMENT
College students
from 15 to 18
GEOGRAPHIC
Mostly in dense
cities, some in
rural areas.
DEMOGRAPHIC
- Gender: Both
- Income: Low.
Their income is
affected by family
income
- Gender: Both
- Income: They are
starting their career
with low and
middle income
BEHAVIOURAL
PSYCHOLOGICAL
- Frequency: Everyday
- Purchase Patterns:
They prefer low-priced
cosmetic products but
good quality, nice
packaging. Their
shopping styles are
situation-specific or
constantly changing.
They are willing to
wait until special
occasions such as
holidays and sales,
then run frantically to
shop all at once. In
addition, students
almost never shop
alone.
They usually have
access to product
information through
print media and
friends.
- Loyalty: Satisfied or
Habitual Buyers
- Lifestyle: Extremely
interested in Korean
culture and celebrity.
They are easily
attracted by the wide
range of products and
the packaging.
Besides, their skin at
this age is sensitive so
they will tend to use
products that prevent
and treat common skin
problems on a daily
basis.
- Personality: Trendy,
care about appearance,
youthful.
- Frequency: Everyday
- Purchase
Patterns:They would
rather have midpriced, affordable
products but high
quality. Their shopping
habit has two main
- Lifestyle: Because
their job
characteristics always
ask them to wear
make-up before
leaving home, they use
skin care products
every day to avoid
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Young
people from 18 to
30
characteristics:
+ They tend to be
much less attached to
specific brands,
instead preferring to
shop around for the
best deal.
+ These shoppers
consider shopping as
the combination
between purchase and
entertainment. They
tend to search
carefully for product
information.
- Loyalty: Satisfied or
Habitual Buyers
aging and help the skin
be better moisturized.
(63% of customers use
serum every day.).
They like products that
are safe and friendly to
skin and environment.
- Personality:
Always put quality
first. Mature and openminded.
Careful in choosing
products that are
suitable for their skin.
Targeting
Innisfree’s main target customers are young people who come from 15 to 30. Consumers
believe that today's products are not only safer and of better quality, but also more
environmentally friendly. Some brands like Shiseido, The Face Shop, ... have focused on this
need and have done it well. Most of these well-known brands, however, target the middle and
upper class, while few brands target the low and middle income. This is why Innisfree has
chosen the Vietnamese market and its target customers are low and middle income people.
Besides, the customers in this segment are all cosmetic savvy, brand-conscious shoppers and
frequently seek information primarily through social media. This means that Innisfree will have
a lot of opportunities to promote the product.
VI.
Marketing mix
From the aforementioned details in part E (Marketing Mix), our goals for the performance of the
4Ps:
Goals
Product

Packaging
Match customers' expectations for a product with elegant design and practical
package & solve environmental problems.

Ingredients & Technologies:
Enhancement in skin moisturization up to 710% after the 1st try.
Provide deep and balanced water, strengthen the skin barrier against damage
and prevent irritation and aging.

Value:
Provide an innovative moisturizing product with a new formula.
Eco-friendly and naturalistic container.
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A solution for dry skin, oily skin and skin that gets irritated easily.
Price
These competitive pricing strategies can urge customers to purchase
Innisfree‘s products and help it gain more profit.
Place
By going with a selective distribution strategy, Innisfree can reach target
customers quickly as well as promote its brand easily.
Promotion Create awareness about the new product, retain loyal customers, engage more
potential consumer relationships and empower the brand’s position.
VII.
IMC Plan
We decided to divide this campaign into 3 phases within 80 days with the goal to promote new
products and enhance the value of nature. Besides, because Tet is also a special holiday that
customers often go shopping, we will offer special deals for customers shopping on this
occasion.The table below will be a summary of the plan.
Phase 1
Phase 2
Phase 3
Marketing
Funnel
Discovery
Consideration
Purchase
Timeline
20/12/2021 - 20/1/2022
21/1/2022 - 21/2/2022
22/2/2022 - 10/3/2022
Objectives
- To announce the launching
of the new product.
- Attract the onlookers’
awareness and curiosity.
- Convince buyers that the
product is outstanding
compared to the competitors.
- Provide deeper information
of the product
- Make customers first buy,
then repurchase the
product.
- Build consumer’s loyalty.
- Make loyal customers
urge sales by distributing
nice images.
Key Hook
Series posts
Music video
Tik Tok promotion
Demo/ Free trials, Events
Ambassador
Consumer feedback group
Emails
Series posts
Contents
- Upload a mysterious short
promotion video of the
coming-up product on
Facebook, Instagram,
Youtube.
- Posting new product’s basic
images and information on
the official website with the
appearance of Vietnam
Product Ambassador Giang
Ơi, an influential blogger
- Sales promotion:
+ 10% discount for first 200
customers.
+ Give samples as a gift when
purchasing other Innisfree
products.
+ During 2 first weeks,
purchasing our new product
with over 100k will receive a
pack of envelopes, a ecofriendly tote bag for 400k bill,
- Send gifts for the
ambassador and partners
for actual review.
- Collect feedback from
cosmetics/beauty groups,
forums and websites.
- Encourage customers to
give reviews on official
website for bonus points.
- Send emails to customers
when there is updated
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with attractive brown skin
tone.
- Release TVC “Rạng Ngời
Đón Xuân cùng Innisfree”
for 2mins. (Collaboration
with Suboi)
- Launch a music video’s
choreography challenge on
Tik Tok platform.
- Printed ads, LED screen
and digital POSM at official
stores, large shopping centres
and point locations.
Supporting KOL, PR articles, social
Tactics
media
Channel
VIII.
Facebook, Instagram,
Youtube. Tiktok
information relating to the
product.
- Gratitude minigame =>
finish product promotion
series:
+ 1st price: Gift set values
1.100k (1 winner)
+ 2nd price: Gift set values
500.000 (2 winners)
+ 3rd price: Gift set values
200.000 (2 winners)
KOL, PR posts, Social media,
Social media
Facebook, Instagram,
Youtube, Website
Tiktok, Facebook
Budgets
TIME
COST
REACH NUMBER
(Person)
Facebook ads
1 month
40.000.000
1.000.000
Instagram ads
1 month
10.000.000
130.000
Youtube ads
1 month
19.000.000
500.000
Tiktok
40 days
60.000.000
50.000
PHASE
PHASE 1
and an eco friendly cup with
eco-handkerchief for 600k
bill.
+ Sign up for free trials by
downloading the innisfree app
and creating a member
account.
- Public relations:
+ Event “Happy Spring with
Bestea”
Organized at GEM centre
(HCMC) At this event,
customers will have a chance
to experience and get make-up
on with the Green Tea Seed
Serum (Skin Healing version)
as well as be involved in such
eco-friendly activities as
making flowerpot, pencil pot,
bracelets from used packages.
● Purchase gift set with
preferential price.
● Receive a bag including 1
sample product, 1
notebook, 1 eco bamboo
cup when entering the
event.
● Take place within 2 days.
● Ticket price: 80k/person
=>Target: 200 person/day.
TITLE
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LED ads
1 month
188.000.000
Print ads
1 month
200.000.000
E-banners
1 month
300.000.000
POSM rental fees
1 month
500.000.000
Booking KOLs
1 month
50.000.000
TVC with Suboi
PHASE 2
Facebook ads
1 month
40.000.000
1.000.000
Instagram ads
1 month
10.000.000
130.000
Youtube ads
1 month
19.000.000
50.000
Print red envelope
2 weeks
4.300.000
10.000
Print tote bag
2 weeks
90,000,000
First 200
customers
17,600,000
2 weeks
100,000,000
2 days
500.000.000
Eco bamboo cup
(Special gift)
Print eco-handkerchief
Event
PHASE 3
KOLS Payment
50.000.000
Minigame Gifts
2.500.000
Transportation Fee
Total
Estimated Cost
140.000.000
200.000
~2.3 Billion VND
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