Table of Contents COSRX Brand Overview Observation of the Market Consumer Analysis Product Concept Marketing Strategy Digital Strategy
Heavily ingredient based skin care brand that promises the best solutions for various skin care problems
Cos (Cosmetics)
“Expecting Tomorrow� Their slogan excites the consumer and compels them to try out and seek their desired results
Rx (Prescription)
Observation of the Market
South Korea Skin Care Market
Beauty & Personal Care Market 2019 - 15,230.6 B WON 2023 - 16,771.5 B WON Mass Beauty & Personal Care Market 2019 - 7,341.1 B WON 2023 - 8,091.7 B WON Men’s Grooming Market 2019 - 1,218.7 B WON 2023 - 1,325.6 B WON
75% Face & Eye Care
15% Cleansers, Exfoliants & Masks
Price Analysis Prestige
SK-II Men Moisturizing Cleanser 120 ml / KRW 78,000
Shisedo Men Energizing Formula 75 ml / KRW 39,000
Sulwhasoo Skin Reinforcing Emulsion for Men 90 ml / US 59,000
Masstige
HERA Homme Basic Purifying Cleansing Foam 125 ml / KRW 40,000
Lab Series for Men Future Rescue Repair Serum 50 ml / KRW 77,000
Biotherm Homme Aquapower 75 ml / US 53,000
Innisfree Forest for Men Fresh Cleansing Foam with Phytoncide Complex 150 ml / KRW 14,000
Dr. Jart CICAPAIRâ„¢ Tiger Grass Re.pair Serum 30 ml / KRW 54,000
SKINFOOD since 1957 Betula Alba Juice Moisture Fluid for Men 125 ml / KRW 28,000
Mass
CLEANSERS
SERUMS
MOISTURIZERS
Competitive Analysis
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Subsidiary of Estee Lauder
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Hold 13% Market Share
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Market Value in Asia at KRW 29.7 Trillion ($25 Billion)
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Cumulative Global Sale at KRW 1.2 Billion ($1 Million)
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Entry Level Sales at KRW 1.8 Billion ($1.5 Million)
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Price Range – KRW 23,000 – 36,000 ($19 - $82)
Objectives & Strategies
Goal Claim our space in the men’s skincare market
Objectives 1. Positioning brand in white space for beauty in the mass market for men 2. Increase brand awareness of Cosrx through campaign concept elevation 3. Taking over 40% of the market share from Lab Series PRO LS
Strategies 1. Launch 3 step product regimen focused on skin perfection for men of Millennials & Gen Z 2. Leveraging face tuning platforms such as Snow to establish a social language amongst Cosrx consumers 3. Collaborations with top KOLs in the region
Gaining Traction/Size of Prize
Lab Series
1st Year •
First Year Sales Estimate – KRW 733 Million
•
Absorbing 40% of market share from entry level line Pro LS
Consumer Analysis
Stimuli
“The Skincare Adventurer” • • • • • • •
Generation Z Perfectionist and Workaholic Always on the Go Loves shopping for skincare & exploring new trends Shops online and always has tech on hand Active on social media Needs validation to feel secure in his friend group
Product Concept
Product Concept & Assortment
• The 5 minute treatment session to render the ultimate skin for any
skin type
• The morning, afternoon & night treatment regimen specially formulated to moisturize and lift your face while blurring acne
marks and scarring
Gel Exfoliating Cleanser • 150ml • (Primary) Plastic • (Secondary) Cardboard Price • 9,000 Won Ingredients • Willow Bark (Physical Exfoliate) • Charcoal Extract (Detox) • Honey (Anti-Bacterial & Moisturizing) Dispense • Squeezable Tube Benefit: • Removes Dead Skin Cells • Moisturizes Skin
Hydro-Collagen Lifting Serum • • •
40ml (Primary) Plastic (Secondary) Cardboard
Price • 25,000 Won Ingredients • Hyaluronic Acid (Moisturizing) • Collagen (Firming) • Resveratrol (Firming & Soothing) Dispense • Twist-to-Suction Dropper Benefit: • Repairs & Plumps Skin
Facial Gel Moisturizer • • •
100ml (Primary) Plastic (Secondary) Cardboard
Price • 21,000 Won Ingredients • Glycolic Acid/AHA (Acne) • Aloe Vera (Moisturizing, Soothing) • Retin A Dispense • Pump Benefit: • Fights Acne • Relieves Irritated Skin
STATED • Three step skin care regimen for men REAL • Suitable for all skin type UNSTATED • Prestige quality formula DELIGHT • Free gift with purchase SECRET • I look and feel more attractive than my friends
Marketing Strategy
Campaign Concept Launch: Late June 2020 Seoul, Korea @Olive Young, Gangnam
• The Hydro-Shop revolutionizes the men’s beauty space • Blurring the line between beauty and skincare • Quick and easy regimen with fast acting solutions to reveal the ultimate face-tune.
Overall Story/Key Messaging
#myskinverified
#verifiableskin
Social Media •
Step By Step of product regimen
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Before & After Posts & Videos
Pop Up Event •
Sampling @ Olive Young, Gangnum
Owned Media •
Making “sneak peak” posts through IG Story
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Kakao Plus Friends Newsletters
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Retargeting ads through Youtube
Tagline •
“COSRX Skin Verified”
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#myskinverified
g n i m Beco
Product Experience • Snow & Instagram – Cosrx Stickers KOL Tutorials • Youtube - “How to Videos”, “Get to Know Cosrx” Website • Cosrx.kr.com - Promotions & Events
Final assortment Chats from the Experts • COSRX.kr.com – Chats with the top experts in skin care Exclusive Access to Launch Events at Beauty Specialty Stores • COSRX.kr.com – Emailed invites to beauty pop ups Education (Chat Room Assistant) • COSRX.kr.com – 24/7 Assistance & FAQ Forum
#cosrx – 257K Posts #cosrxsnailessence – 3500+ Posts #cosrxacnepimplepatch – 7000+ Posts
• Allows their consumers to tell the story • 50% of content is user generated • Stalk their comment section, repost micro-KOLs and influencers
Promotions Pre-Launch
Launch
Post-Launch • •
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Pre-Order the Hydro-Shop
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Collection to access 50%
Below 30,000 WON • 5 free COSRX samples 30,000 WON & Up • Mini sample 70,000 WON & Up • Travel size sample
off the entire online store
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2 Day Event • 30% off of the Hydro-Collagen Serum •
First 50 to solve quiz to receive HS Collection
Online Mock Up
Digital Strategy
Pre-Launch
Launch
Post-Launch
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Campaign Preview –
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How To Videos –
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“Are You COSRX Verified?”
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“How to get #HydroShopped”
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Creator x COSRX –
Campaign Preview –
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Product Testing –
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Campaign Preview –
Story - #myskinverified
CRM – COSRX Newsletter “Introducing The Hydro-Shop”
Campaign Preview –
Post – Facial Gel Moisturizer #DoubleTrouble
• Content Reposting – Reposting engaging post and videos from KOLs and regular consumer
Promos – COSRX Newsletter “30% Off Hydro Serum”
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Campaign Preview –
Promos – COSRX Newsletter “Take the COSRX Quiz”