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COSSOR
1. Making the best product decision faster and more efficiently with
technology and information
Lina Krief & Kenny Soh
Lina.krief@audencia.com Sohjunxian@berkeley.edu
1
2. Too little time,
Too many products
Numerous cosmetic brands and products
But there’s only a few ones that suits you
And there is limited TIME
Especially for busy women
2
3. That's why we created
COSSOR MAKEUP
Cossor Makeup is a makeup mobile application that
serves busy beauty enthusiasts by analyzing users’
preferences, past product history and user profile to
recommend a range of curated products available in
any localized beauty retail store.
3
4. Opportunity
4
Have no
idea
48%
Knows exactly
the products
52%
DO YOU KNOW WHICH
BRAND SPECIALISES IN WHAT
KIND OF COSMETIC
PRODUCT?
Have no idea Knows exactly the products
78.3%
Finds it hard to
products that
suit them
39.1%
Finds that there
is too much
choices
CHALLENGES FACED WHEN CHOOSING A COSMETICS
PRODUCT
5. Outlook
Increasing trend of self-care
Evidence of using technology to aid
product selection
Relatively well distributed of products
sold by luxury and drugstore brands.
Emarketer: https://content-na1.emarketer.com/health-and-beauty-shoppers-seek-more-info-in-store
5
TAKEN A PHOTO OF
PRODUCT
20%
SCAN, PAY AND CHECK
OUT
19%
TAKE PICTURE TO
SEARCH FOR MORE
INFORMATION
19%
SCAN BAR CODE TO
LOOK UP FOR OTHER
INFO
15%
LOYALTY AND
REWARDS PROGRAM
14%
CHECK AUTHENTICITY
13%
INTERNET USERS WORLDWIDE USE THEIR SMARTPHONE
WHILE SHOPPING FOR HEALTH, BEAUTY AND PERSONAL
CARE PRODUCTS
7. Competitive Matrix – Combination of all but better
Popularity
Quality/
quantity of Filters
Products match/
personalization
Diversity of brands/
products
Information data hub
Link to purchase /
see availability /
Location
Reviews / social media
sharing
0 4.5 4.5 5 4.5 4.5 4
3 2 2 3.5 4 3.5 4
4 3 4 3.5 3.5 4 1
2 3 4 3.5 3.5 4 4
3 4.5 1 4.5 3 2.5 3.5
7
(Scale between 0 and 5 with 0 being N.A., 1 being the worst and 5 the best)
0 1 2 3 4 5
8. Source of Revenue
Big Data
(future)
Expansion of
beauty
community
Consumers
spending
habits,
preferences
CPC
$0.20
CPM
$1.80
8
10. Marketing plan & strategy (Users)
Building a beauty community of busy users, year 1
Raising awareness of Cossor Makeup in business
events in bay area, beauty related events .
Roadshows at California Colleges, complementing
with social media promoting (Instagram, LinkedIn)
Pitching idea to beauty retail store for ad placement
13. Team
Lina Krief
Lina comes from France, she went to Audencia
Business School.
She has done several internships at Guerlain
(LVMH), Atout France and Ernst and Young
Parthenon. She is interested in consulting strategy
and beauty world.
Kenny Soh
Kenny comes from Singapore where he was trained
in Architecture at Singapore University of
Technology and Design.
He is briefly trained in the Python language and is
interested in incorporating efficiency and
productivity into lifestyle choices.
13
14. Cossor
Cossor develops mobile applications and complementary experiential
services that help matches users and cosmetic brands (makeup and skin care)
products based on the users' profile, geographical location, needs and
convenience.
Our application not only serves as an information hub for make-up products
but also as the communication bridge between users, cosmetics companies
and both online and the traditional physical sellers.
Cossor revenues will be generated by advertisement and partnership
with brands, commission from each product sold and with some reservation
fees for cosmetics products.
14
15. “Helping everybody look good using the
least amount of time and effort."
Cossor's mission
15
17. Qualitative Research
(5 people at Sephora and benefit in Berkeley)
"Enjoys the whole shopping experience in the store"
"Shops aimlessly in the store"
"Prefers shopping in person to test the product and see how it looks"
"Either ask for assistance or ask friends for recommendation"
17
18. Solution/Unique Benefits we offer
Bridging the gap by becoming the data hub and personalized advisor Competitiveness advantage:
→ Localization services (focus in the USA, starting from California)
Direct people to the Ecommerce shops/ physical shop in the vicinity/neighborhood for the
specific product to purchase
Regional, climate and location-based recommendation (e.g. Different countries will have different
sets of recommended products).
18
19. Solution/Unique Benefits we offer
Bridging the gap by becoming the data hub and personalized advisor Competitiveness advantage:
→ Qualitative and quantitative filters
Having an assistant (machine learning, pattern learning, AI) to help filter selection and choices
using parameters e.g. your skin, past products, your location.
Eliminating the confusing, vexing and tormenting process of researching, searching, picking out the
right product.
Factors influencing decisions
19
20. Solution/Unique Benefits we offer
Bridging the gap by becoming the data hub and personalized advisor Competitiveness advantage:
→ Compilation of reviews and branding from all platforms
(e.g. social media, bloggers)
20
21. Solution/Unique Benefits we offer
Bridging the gap by becoming the data hub and personalized advisor Competitiveness advantage:
→ Personalized to each individual user
The personalization/match allows the reduction of choices and hesitations
Why cosmetic/skincare products are the biggest challenge for you to select?
21
23. SWOT
Strengths Weaknesses
Easy to use (instinctive and simple)
Quality and quantity of filters
Real time inventory updates
Diversity of brands and products (worldwide)
Personalization service
Big information hub
Time is required to gather data (geographical,
product information etc.)
Time to gain awareness
Opportunities Threats
Product reservation services for internet
trend/craze drives sales of products that may
lead to out of stock situation
Low barrier to entry (anybody can enter)
Shopping experience in physical store is
difficult to replace/substitute
23
24. Marketing plan (Users)
Audience Strategies Activities
Target personas Marketing Goals Marketing Channels
• Busy People
• Girls students and businesswomen 15 –35
years old
• Beauty Enthusiasts
• Smartphone users
• Mobile application
download of 5,000
within the first month
• Daily application usage:
once per user in that
month
• Social media : Facebook, Instagram, twitter,
• People : Influencers and during networking
• Advertising
• Roadshows
• Billboard
• YouTube
• Magazine/ Newspapers
Customer Journey Key Strategies Tactics & Activities
During a break/in the evening/ on weekend/ for
a special need/events looking for a product
walks into the cosmetic store and was dazzled by
all the products Application
• Focus on the efficiency
and the rapidity of the
App, after that focus on
the user's fidelity
• Discounts/vouchers, promo code when users show
evidence of Cossor usage
Value Proposition Pricing & Positioning Measures of success
• The application where people can easily and
quickly find everything about makeup
The Application is free • Daily/Weekly/Annual
Number of application visitors
Number of new profiles
Which service on the
application is the most used/less used
24
25. Marketing plan (Cosmetics Brands)
Audience Strategies Activities
Target personas Marketing Goals Marketing Channels
• Drugstore
• Indie cosmetic brands
• Luxury brands
• Obtain product information (description,
ingredients, location etc.)
• Express interest in collaboration/deal
with cosmetics company
• Email
• Meeting
• Social media
• Private events
Customer Journey Key Strategies Tactics & Activities
N.A.
• Long term partnership that consider
commission as revenue
• Short term advertisement
• Conduct, research and collate customer’s
behavior and feedback during product
selection to emphasize efficiency of quick
matching of product and consumers
Value Proposition Pricing & Positioning Measures of success
• The application where people can
easily find everything about makeup,
for itself and others at any time
• $0.20 – $0.50 cost per click
• $2000 per product banner
advertisement
• Daily/Weekly/Annual number of application
visitors
• Service on the application is the most used/less
used
25
26. Positioning (Cosmetic Brands)
• For cosmetic companies
• Who are looking for more sales, notoriety and advertising (new
products, range etc.)
• Our product is a cosmetic advisor mobile application called "Cossor"
• That helps matches users and cosmetic brands products based on
different users data (location, needs, profile etc.)
26
27. Positioning (Users)
• For beauty enthusiasts
• Who do not know what is new on the market and are spoilt for choices
and not sure how to choose the right or new product and
• Our product is a cosmetic advisor mobile application called "Cossor"
• that helps matches users and cosmetic brands products based on
different users' data (location, needs, profile etc.)
27
28. Promotion
• Recruiting Beauty enthusiasts such as social influencers for beta-testing.
• Meeting with cosmetic companies and beauty retails store for feedback
session
• Through events (networking, pitching events, beauty events)
28
29. Limited information on
Product's availability /
location service
Limited product brands
Diversity of product brands
Frequent updates on
Product's availability /
location service
Position Attribute Map
29
30. Support team
• External:
Software
Developer/Programmer
Language Translator
Editor
• Internal:
Designer
Public Relations and
Communication
30
31. Future Projects
1. Branching to specific niche market such as men's grooming for facial hair
or skincare specific
2. Mobile tester vehicle that brings the whole shopping experience that
includes testing out products to users' convenience
1. Users select several products/brands recommended to them or those that they
want to try and compare
2. Mobile tester vehicle will set up and prepare the selected products and testers and
drive to the users' location
3. Users can experience product testers before deciding and have the whole shopping
experience in the vehicle at their convenience
4. No need to make their way down to stores or be overwhelmed with the wide
arrays of choices or be disappointed if the desired product is not available.
5. Future opportunities especially in autonomous vehicle
31
32. Operation plans -Cossor, your best advisor to looking your best.
Product information and data collection:
Phase 1: Collaboration with Brands
Working directly with cosmetic brands to obtain their latest and current product information and media kit for
compilation and update of Cossor's data hub.
Phase 2: Tagging and data organization
Then a team will be assigned to tagging the products with relevant Cossor filters.
Phase 3: Community Collaboration
Another team will be responsible to working with the online community and review platform to share their thoughts
on the different cosmetic products.
32
33. Operation plans -Cossor, your best advisor to looking your best.
Location, Geographical and climate data collection and analysis:
Phase 1: Setting up a system
Working with distributors and existing brick and mortar stores to implement a real-time inventory system through
the Cossor mobile application that can update or inform customers in advance the availability of the product. May
look into existing mobile application such as Target or online platform such as amazon.
Phase 2: Setting up a weather-skin analysis hub
Cossor will also be working with local weather forecast agencies to summarize the attributes and environmental
effects due to the weather. Cossor will research and consult dermatologist with the available weather data so that
we can better advise users on suitable products for that particular climate. We would be starting with National
Weather Service US.
Skin profile and product analysis:
Extensive research on different skin conditions and products ingredient and their claims and together with experts'
advices such as dermatologist and chemist to better recommend products to user's skin. Using this as
the algorithm the application's matching and advising system.
33
34. Financial Plan
• Looking for a partner that is adept in mobile application development
• Reduce cost of mobile application
• Tapping on available beauty application/ecommerce application API/SDK to reduce cost
Source of Funding Cost
Founders' savings, families and friends' loan 20 000
Bank Loan 200 000
Angel Investment 100 000
Crowdfunding 10 000
Total $ 330 000
34
35. First year Budget Cost
Salaries 235 000
Application development 40 000
Domain name 10
Miscellaneous costs (Events, commute) 5 000
Total $ 280 010
Start up budget
35
37. Cash flow
37
Cash flows from operating activities
Net Income 83,200$
Adjustments to reconcile net income to net cash
provided by operating activies
Depreciation Expense 4,333
Increase in Accounts Receivable (9,944)
Increase in Inventory (9,944)
Increase in Accounts Payable 10,423
Increase in Notes Payable -
Increase in Taxes Payable - (5,131)
Net Cash provided by Operating Activities 78,069$
Cash flows from investing activities:
Acquisition of plant assets -
Net cash outflow from investing activities -
Cash flows from financing activities:
Proceeds from issuance of preferred stock -
Proceeds from issuance of common stock -
Proceeds from Mortgage Payable -
Payment of long-term debt -
Net cash inflow from financing activities -$
Net increase in cash 78,069$
Cash balance, December 31, 2018 2,845
Cash balance, December 31, 2019 80,914$
Statement of Cash Flows
For the Year Ended December 31, 2019
Increase (Decrease) in Cash and Cash Equivalents
(Amounts in thousands)
38. Annual balance sheet
38
(Amounts in thousands)
Current Assets
Checking Account 50,000$
Certificates of Deposit -
Accounts Receivable 200,000
Inventory -
Total Current Assets 250,000$
Fixes Assets
Land -$
Buildings -$
Less: Accumulated Depreciation - -
Equipment 5,000$
Less: Accumulated Depreciation 500 4,500
Total Fixed Assets 4,500$
Total Assets 254,500$
Current Liabilities
Accounts Payable--Trade -$
Notes Payable--Bank -
Taxes Payable `
Total Current Liabilities -$
Long-Term Liabilities
Loan Payable -
Total Long-Term Liabilities -$
Total Liabilities -$
Owner's Equity 50,000$ 50,000
Total Liabilities and Owner's Equity 50,000$
As of December 31, 2019
Assets
Pro Forma Balance Sheet
Liabilities and Owner's Equity
Editor's Notes
if you are always busy
if you do not have the time to spend hours in a cosmetic shop
If you are not aware of new beauty products
And If you don’t know how to find the perfect suitable makeup product for yourself
We have the solution for you, it is Cossor makeup
Cossor makeup is a mobile application that serves busy beauty enthusiasts by analyzing their preferences, their past product history and their profile to recommend different curated products available in any localized beauty retail store.
Based on our survey, we saw that almost half of the community shares the same pain of you of not knowing what are the specialization of each brand and what they are looking for.
Almost 80% find challenging to find suitable products and 40% is spoilt for choices.
This means that cosmetics companies are not reaching out efficiently to these customers.
And this is even more a problem for makeup users who are too busy.
We saw this as an opportunity to become the bridge between cosmetics companies and customers.
Our market research also underlines the beauty preoccupation in the US markets, Americans are paying more and more attention to their appearances. And this trend is expected to increase for the next few years.
Moreover, with de development of new technologies, almost 15% of the worldwide consumers are using smartphone as a tool to select products easier (whether it is to take a picture or to do last minute research. )
Hence the fact that, with these new customer behaviors, we are confident that Cossor Makeup will be even more relevant in
Now we present you our prototype:
You can browse Cossor app anywhere, at home or just passing by a shop with its location function. especially if you have no time to shop around. Upon opening the app you can choose one of the three options right away. They are Finding the latest products on the market, or to try a product you have never used before, and a similar product to which you have used before.
The first option would be Cossor’s main advertisement revenue where we feature brands or new product lines in the market through reviews, articles or sponsored post.
Moving on to the second option where Cossor’s extensive filters will assist the user to find specific products according to the needs and functions.
Lastly, once the users have fully integrated into the app, she or he may create an account and profile and Cossor will go through your product history and analysis to make effective product suggestion catered to the user.
Most importantly, Cossor will be free to download.
We start by speaking to different retailers/cosmetics company for a collaboration to access the product information by offering them visibility and an increment of their sales.
There are already some application helping products selection easier but there is no application that serve curated and personalized products recommendation to the users quickly.We combine different application properties into one and make it better, so users can have one efficient application.
What make our application unique is that ….
Time to speak more about our specifications (localization, instinctive app)
We will launch first in the San Francisco Bay Area and after we hope to attend all California and all the American market.
After, our future project is to launch Cossor for skin care products not just make up and also to target busy men.
We are focusing on growing the beauty community for this part in order to be the spring board for the marketing plan for cosmetics brands.
Conclusion : We are not targeting people having time to enjoy shopping experience in real shops
We are focusing on growing the beauty community for this part in order to be the spring board for the marketing plan for cosmetics brands.