EconPapers    
Economics at your fingertips  
 

Behind the Beauty: Unveiling COSMAX's Game-Changing ODM Strategy

Young Won Park () and Paul Hong ()
Additional contact information
Young Won Park: Saitama University
Paul Hong: The University of Toledo

Chapter Chapter 7 in Cosmetics Marketing Strategy in the Era of the Digital Ecosystem, 2024, pp 129-144 from Springer

Abstract: Abstract This chapter examines COSMAX's transformative strategy as an Original Design Manufacturer (ODM) in the cosmetic industry, highlighting its success amidst the post-pandemic shifts in consumer behavior and technological advancements. As the middle class in East Asia expands, there is an increased demand for personalized self-care and beauty products, coupled with a reliance on digital solutions and sustainable practices. COSMAX has harnessed these trends, leveraging big data, IoT, and AI to enhance its value chain and meet the sophisticated demands of its global customer base. The analysis underscores the agility and innovative spirit of COSMAX, which, despite the challenges posed by the pandemic, has continued to thrive by adapting to the evolving digital landscape and consumer priorities in the cosmetic sector. COSMAX's journey from a modest start-up to a global ODM leader is a testament to its strategic emphasis on research, innovation, and customer-centric approaches. It has effectively merged skincare and makeup, pushing the boundaries of product development through its R&D efforts. By embracing the Fourth Industrial Revolution, COSMAX has optimized its operations for speed and flexibility, significantly reducing product development time and enhancing manufacturing processes. This case study exemplifies how a forward-thinking business model, grounded in technological innovation and global market awareness, can drive a company to industry leadership and offer valuable lessons for businesses navigating the complexities of the post-pandemic market.

Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-97-3674-4_7

Ordering information: This item can be ordered from
http://www.springer.com/9789819736744

DOI: 10.1007/978-981-97-3674-4_7

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2025-03-23
Handle: RePEc:spr:sprchp:978-981-97-3674-4_7