(Tiểu luận) topic import goplay cosmetic to vietnam market

Background analysis

External analysis

- 3.2 Choosing method of market entry

Preliminary assessment

2.4 Selection of targeting (Ho Chi Minh city) 16

3.2 Choosing method of market entry 18

3.3 Selection of clients, distributor and partners 19 a Clients 19 b Companies that provide cosmetics import in Vietnam 23

Section 4: Product and price strategy 51

5.2 Positioning in target market 62 a Companies Target 62 b Organisata Model 62 c Brand meaning 64

Management Đại học Tôn Đức…

Phân tích chiến lược marketing mix của…

Phân tích SWOT của innisfree

Welcome to GoPlay Cosmetics, a company dedicated to providing high-quality, innovative beauty products that empower individuals to express their unique style and personality

Create a personalized lipstick that perfectly reflects your style with our unique product, allowing you to mix and match various colors and shades Whether you favor bold, daring hues or subtle, understated tones, customize your lipstick to showcase your individuality.

Discovering the ideal lipstick shade can be difficult, which is why we've developed a customizable solution Our unique formula allows you to blend a small amount to achieve a lip color that complements your skin tone perfectly, ensuring you always look and feel your best.

Go Play Cosmetics offers a range of makeup products including lipsticks, lip scrub, makeup remover balm, moisture drops,

The strengths and weaknesses of current offerings:

Their innovative product features an extensive range of lipstick colors, allowing users to save time and money With just one item, individuals can create a variety of unique lipstick shades, helping them discover their ideal match that may not be readily available in stores.

Go Play Cosmetics offers a unique product but faces challenges with brand awareness and distribution in its domestic market The current marketing strategy is ineffective, and the packaging fails to attract potential customers Consequently, the company struggles to connect with its target audience and grow its customer base To overcome these issues, Go Play Cosmetics should consider re-evaluating its marketing and branding strategies, investing in appealing packaging, and exploring new distribution channels to reach a broader audience.

Go Play Cosmetics should evaluate its manufacturing processes to enhance efficiency and cost-effectiveness, ensuring the use of the latest technology while optimizing production to minimize waste and reduce expenses.

The company currently sells its products mainly through its website, offering free shipping on orders over $80 While this direct approach provides convenience for customers, it restricts access to products Customers are required to visit the company's website or Facebook page to make a purchase To enhance visibility and accessibility, the company should consider expanding its sales channels by exploring opportunities on popular e-commerce platforms, enabling a broader audience to discover and purchase its products more easily.

Go Play Cosmetics needs to evaluate its financial performance by analyzing revenue, costs, and profitability It is essential for the company to review its pricing strategy to maintain competitiveness and meet financial objectives Additionally, assessing cash flow and capital requirements is crucial for ensuring that the company has adequate resources to support its operations and growth.

The company is currently focused on leveraging TikTok to promote its products, boasting over 20,000 followers However, other social media platforms have proven less effective for branding and marketing While engaging video content on TikTok is a key strategy, there is a lack of diverse content types, such as informative posts, which could educate and attract potential customers This oversight may result in missed opportunities to connect with a broader audience that prefers varied content formats.

Customers praise the quality of the company's products, but the packaging fails to attract the younger demographic, a crucial target market To enhance appeal, the company should revamp its packaging by using vibrant colors, unique patterns, and overall more visually appealing designs This strategic improvement can capture the attention of potential customers and boost brand appeal among younger consumers.

- The considerable concern of natural and organic ingredients in cosmetics accelerates greatly in Viet Nam, providing a niche market for companies that cater to this trend.

- Growing trend towards personalized beauty products in Vietnam currently.

- The ability to work out unique and tailored lipstick shades offers a competitive advantage over traditional and mass-product lipstick

- Vietnamese population is large and young, with an expanding interest in beauty, providing a great potential target customer

- A lack of stringent regulations in the cosmetics industry could lead to lower quality products

- The emergence of counterfeit products makes the industry’s reputation less reliant

- Limited awareness and availability of personalized lipstick services may restrict the range of the potential customer base

- The price is able to cost a fortune compared to mass lipstick products which is difficult to be approachable for first- timers

- The Vietnamese cosmetics market is still enormous room for further growth and development.

- The use of social media and e-

The competitive landscape of the Vietnamese cosmetics market poses challenges for customized lipsticks in gaining market share However, leveraging e-commerce platforms can enable companies to broaden their reach and boost sales effectively.

- Collaborations with influencers or celebrities can help to raise awareness and increase the reach of customized lipsticks. existing players.

- The regulatory environment for cosmetics in Vietnam is still evolving, and new entrants may face challenges in complying with the country’s regulations and obtaining the necessary licenses and permits

- Vietnamese users may have separate beauty preferences and cultural norms, which could impact the demand for using products.

Although market at Viet Nam has involved a wide range of both negative and positive elements, the potential chances far outweigh any risks

Every market faces challenges, with price sensitivity being a significant hurdle, especially when competing against affordable mass beauty products To address this, we focus on attracting higher-end customers Our brand values emphasize the importance of offering vegan products that are cruelty-free GoPlay is committed to sustainability, hygiene, and personalization, showcasing our dedication to eco-friendly solutions in the beauty industry.

We are excited to import Goplay to Vietnam due to the country's growing cosmetics market, which has seen significant expansion in recent years, creating ample opportunities for new entrants With a youthful population increasingly interested in beauty products, there is a substantial customer base for brands to target Additionally, recent government regulations aimed at enhancing product quality have boosted consumer confidence and demand As our team is based in Vietnam, we possess valuable insights into consumer behavior, the economic landscape, and political context, along with essential local relationships Thus, Vietnam presents the ideal market for importing Goplay.

Market selection

Concentration (Vietnam)

- 3.3 selection of clients, distributor and partner

Selection of targeting (Ho Chi Minh city)

Our innovative product enables you to customize your lipstick by blending various colors and shades, allowing for a personalized creation that truly represents your unique style Whether you favor vibrant, bold colors or prefer soft, subtle tones, you can design a lipstick that perfectly matches your personality.

Discovering the ideal lipstick shade can be difficult, which is why we've developed a customizable formula With just a small amount, you can craft a lip color that complements your unique skin tone, ensuring you always look and feel your best.

Their innovative product presents a unique feature that offers an extensive range of lipstick colors, allowing users to save time and money With a single product, users can effortlessly create multiple lipstick shades, helping them discover their ideal match that might not be found in stores.

Go Play Cosmetics offers a unique product but struggles with brand awareness and distribution in its domestic market The current marketing strategy is ineffective, and the packaging fails to attract potential customers Consequently, the company is unable to effectively reach its target audience or grow its customer base To overcome these challenges, Go Play Cosmetics should reconsider its marketing and branding approaches, enhance its packaging appeal, and explore new distribution channels to broaden its reach.

Go Play Cosmetics must evaluate its manufacturing processes to enhance efficiency and cost-effectiveness By assessing the use of the latest technology and optimizing production methods, the company can minimize waste and lower costs.

The company currently sells its products primarily through its website, offering free shipping on orders over $80, which provides convenience for customers but limits purchasing options Customers can only order through the website or Facebook page To enhance accessibility and reach a broader audience, the company should consider expanding its sales channels by exploring popular e-commerce platforms, making it easier for customers to discover and buy their products.

Go Play Cosmetics must conduct a thorough analysis of its financial performance, focusing on revenue, costs, and profitability It's essential for the company to evaluate its pricing strategy to maintain competitiveness and meet financial objectives Additionally, assessing cash flow and capital requirements is crucial to ensure that sufficient resources are available to support operations and facilitate growth.

The company is currently concentrating on TikTok to promote its products, boasting over 20,000 followers However, other social media platforms have proven less effective for branding and marketing While the company creates engaging video content on TikTok, it underutilizes informative posts that could educate and attract potential customers This oversight may lead to missed opportunities to connect with a broader audience that favors diverse content types.

Customers praise the quality of the company's products, but the packaging fails to attract the younger demographic, a crucial target market To enhance appeal among this audience, the company should revamp its packaging design by using vibrant colors, unique patterns, and overall visually appealing aesthetics This strategic improvement can effectively capture the attention of potential customers and boost brand appeal among younger consumers.

The competitive landscape of the Vietnamese cosmetics market poses challenges for customized lipsticks in gaining market share However, leveraging e-commerce platforms can enable companies to reach a broader audience and boost sales significantly.

Every market faces challenges, with price sensitivity being a significant hurdle, especially when compared to mass beauty products To address this, we are targeting higher-end customers who value quality Additionally, we emphasize our brand's commitment to vegan products that are not tested on animals GoPlay is dedicated to offering sustainable, hygienic, and personalized products, showcasing our eco-friendly approach in the beauty industry.

We are excited to import Goplay to Vietnam due to the country's booming cosmetics market, which has seen significant growth and offers ample opportunities for new entrants With a youthful population keen on beauty products, there is a substantial customer base for brands to target Additionally, recent government regulations aimed at enhancing product quality have bolstered consumer confidence and increased demand As our team's home country, Vietnam provides us with valuable insights into consumer behavior, economic conditions, and political context, along with essential relationships that support our business Thus, Vietnam is the ideal choice for importing Goplay.

Vietnam presents a compelling opportunity for foreign cosmetic brands due to its rapidly expanding market, which has experienced a Compound Annual Growth Rate (CAGR) exceeding 16% in recent years This growth reflects the increasing consumer demand for beauty products, making Vietnam an attractive destination for business expansion in the cosmetics sector.

Between 2016 and 2020, the Vietnamese cosmetic market has shown significant growth, a trend projected to continue, attracting cosmetic brands The rise of the middle class and increasing disposable incomes have heightened consumer interest in beauty products, making Vietnam a lucrative opportunity for brands With a population exceeding 97 million, a youthful demographic, and a substantial female population, Vietnam presents an ideal market for cosmetics Additionally, competitive production costs in the country enable brands to lower operational expenses and enhance profitability Reforms aimed at improving the business environment have further facilitated the ease of doing business for foreign companies entering the market.

Vietnam presents enticing opportunities for cosmetic brands seeking to enter foreign markets, thanks to its streamlined business registration processes, tax incentives, and robust intellectual property protections The country's expanding cosmetic market, driven by rising consumer demand and a favorable demographic profile, combined with competitive production costs and a business-friendly environment, makes it an ideal destination for growth and expansion.

Target entry

Negotiating conditions

Create a personalized lipstick that reflects your unique style with our innovative product, allowing you to mix and match various colors and shades Whether you favor bold, daring hues or subtle, understated tones, you can customize your lipstick to perfectly express your personality.

Discovering the ideal lipstick shade can be difficult, which is why we developed a customizable formula With just a small application, you can tailor a lip color that complements your skin tone perfectly, helping you look and feel your best with every wear.

Their innovative product provides users with an extensive range of lipstick colors, allowing them to save time and money With a single product, users can easily create multiple lipstick shades, helping them discover their ideal match that may not be found in traditional offerings.

Go Play Cosmetics offers a unique product but struggles with brand awareness and distribution in its domestic market The current marketing strategy is ineffective, and the packaging fails to attract potential customers Consequently, the company is having difficulty reaching its target audience and expanding its customer base To overcome these challenges, Go Play Cosmetics should reconsider its marketing and branding approaches, invest in appealing packaging, and explore new distribution channels to broaden its reach.

Go Play Cosmetics must evaluate its manufacturing processes to enhance efficiency and cost-effectiveness By assessing the use of the latest technology and optimizing production methods, the company can minimize waste and lower costs, ultimately improving its overall operational performance.

The company primarily sells its products through its website, offering free shipping on orders over $80, which provides convenience for direct purchases However, this strategy restricts customer access to limited purchasing channels, as orders can only be placed via the company's website or Facebook page To enhance visibility and accessibility, the company should consider expanding its sales channels by leveraging popular e-commerce platforms, enabling a broader audience to discover and purchase its products more easily.

Go Play Cosmetics needs to conduct a thorough analysis of its financial performance, focusing on revenue, costs, and profitability It is essential for the company to evaluate its pricing strategy to remain competitive while achieving its financial objectives Additionally, assessing cash flow and capital requirements is crucial to ensure the availability of necessary resources for operational funding and growth.

The company is currently concentrating on TikTok to promote its products, boasting over 20,000 followers However, other social media platforms have proven less effective for branding and marketing While the strategy focuses on creating engaging video content, there is a lack of informative posts that could educate and attract potential customers This oversight may lead to missed opportunities to connect with a broader audience that favors diverse content types.

Customers praise the quality of the company's products, but the packaging fails to attract the younger demographic, a crucial target market To enhance appeal among this audience, the company should revamp its packaging design by using vibrant colors and unique patterns, making it more visually appealing By focusing on these improvements, the company can capture the attention of potential customers and boost brand appeal among younger consumers.

The Vietnamese cosmetics market is highly competitive, posing challenges for customized lipsticks to gain market share However, leveraging commerce platforms can enable companies to reach a broader audience and boost sales effectively.

Every market faces challenges, with price sensitivity being a primary obstacle; our products are priced higher than mass beauty items, prompting us to target higher-end customers We are committed to communicating our brand values, which include offering vegan products that are not tested on animals GoPlay is dedicated to providing sustainable, hygienic, and personalized products, demonstrating our commitment to eco-friendliness.

We are excited to import Goplay to Vietnam due to several compelling reasons The Vietnamese cosmetics market is experiencing significant growth, with an expanding market size and ample opportunities for new entrants A youthful population interested in beauty creates a substantial customer base for brands Additionally, recent government regulations aimed at enhancing product quality have boosted consumer confidence and increased demand As our team is based in Vietnam, we possess valuable insights into consumer behavior, the economic landscape, and political context, along with essential local relationships Therefore, Vietnam is the ideal market for introducing Goplay.

Vietnam presents a compelling opportunity for foreign cosmetic brands due to its rapidly expanding market, which has experienced a remarkable Compound Annual Growth Rate (CAGR) exceeding 16% in recent years.

From 2016 to 2020, Vietnam's cosmetic market has shown significant growth, a trend expected to continue, attracting cosmetic brands The rising middle class and increased disposable income have led to a growing interest in personal grooming and beauty products among Vietnamese consumers, making the market highly lucrative With a population exceeding 97 million, a youthful demographic, and a substantial female population, Vietnam presents an ideal landscape for cosmetics Additionally, competitive production costs allow brands to lower operational expenses and enhance profitability Recent reforms have also improved the business environment, facilitating easier entry for foreign companies.

Vietnam presents appealing opportunities for cosmetic brands aiming to expand internationally, thanks to its streamlined business registration processes, tax incentives, and robust intellectual property rights protection The country's burgeoning cosmetic market, driven by rising consumer demand and a favorable demographic profile, combined with competitive production costs and an overall ease of doing business, makes it an attractive destination for growth.

Product and price strategy

Term and procedures

Create a personalized lipstick that reflects your unique style with our innovative product, allowing you to mix and match various colors and shades Whether you lean towards bold, daring hues or prefer subtle, understated tones, customize your lipstick to express your individuality.

Finding the ideal lipstick shade can be difficult, which is why we've developed a customizable formula With a small amount of our unique product, you can create a lip color that matches your skin tone perfectly, helping you look and feel your best every time you wear it.

Their product stands out by offering an extensive range of lipstick color options, allowing users to save both time and money With a single product, users can easily create multiple lipstick shades, helping them discover their ideal match that may not be found in stores.

Go Play Cosmetics offers a unique product but faces challenges with brand awareness and distribution in its domestic market The current marketing strategy is ineffective, and the packaging fails to attract potential customers Consequently, the company struggles to engage its target audience and grow its customer base To overcome these obstacles, Go Play Cosmetics should reconsider its marketing and branding approaches, enhance packaging appeal, and seek new distribution channels to broaden its reach.

Go Play Cosmetics must evaluate its manufacturing processes to enhance efficiency and cost-effectiveness This involves assessing the use of the latest technology and optimizing production methods to minimize waste and lower costs.

The company primarily sells its products through its website, offering free shipping on orders over $80, which provides convenience but restricts customer access to limited purchasing channels Currently, customers can only order through the company's website or Facebook page To enhance accessibility and reach a broader audience, the company should consider expanding its sales channels by utilizing popular e-commerce platforms, making it easier for customers to discover and buy their products.

Go Play Cosmetics must conduct a thorough analysis of its financial performance, focusing on revenue, costs, and profitability It is essential for the company to evaluate its pricing strategy to maintain competitiveness and meet financial objectives Additionally, assessing cash flow and capital requirements is crucial to ensure sufficient resources are available for operational and growth needs.

The company is currently leveraging TikTok to promote its products, boasting over 20,000 followers, while other social media platforms have proven less effective for branding and marketing Their strategy focuses on creating engaging video content, but they are underutilizing informative posts that could educate and attract potential customers This approach may lead to missed opportunities to connect with a broader audience that prefers diverse content types.

Customers praise the quality of the company's products, but the packaging fails to attract the younger demographic, a crucial market segment To enhance appeal among this age group, the company should revamp its packaging by using vibrant colors, unique patterns, and overall more visually appealing designs This strategic improvement can effectively capture the attention of potential customers and elevate brand appeal among younger consumers.

The Vietnamese cosmetics market is highly competitive, which may hinder customized lipsticks from gaining significant market share Additionally, strong competition from e-commerce platforms presents both a challenge and an opportunity, as these platforms can help companies expand their reach and boost sales.

Every market faces challenges, with price sensitivity being a significant hurdle, particularly as our products are priced higher than mass beauty items To address this, we are targeting higher-end customers who appreciate quality Additionally, we emphasize our brand values by offering vegan products that are cruelty-free GoPlay is committed to sustainability, hygiene, and personalization, positioning itself as an eco-friendly choice in the beauty industry.

We are importing Goplay to Vietnam due to the country's rapidly growing cosmetics market, which has expanded significantly in recent years and offers ample opportunities for new entrants With a youthful population that is increasingly interested in beauty products, there is a substantial customer base for brands to target Additionally, recent government regulations aimed at enhancing product quality have boosted consumer confidence and demand As our team is based in Vietnam, we possess valuable insights into consumer behavior, the economic landscape, and the political context, along with essential local relationships Thus, Vietnam is the ideal choice for importing Goplay.

Vietnam presents a compelling opportunity for foreign cosmetic brands due to its rapidly expanding market, which has experienced a remarkable Compound Annual Growth Rate (CAGR) exceeding 16% in recent years This growth reflects increasing consumer interest in beauty products, making Vietnam an attractive destination for business expansion.

From 2016 to 2020, Vietnam's cosmetic market has seen significant growth, a trend expected to continue, attracting cosmetic brands The rise of the middle class and increasing disposable income have heightened consumer interest in personal grooming and beauty products, positioning Vietnam as a lucrative market With a population exceeding 97 million, a youthful demographic, and a high percentage of women, Vietnam presents an ideal environment for cosmetics Additionally, competitive production costs in the region enable brands to lower operational expenses and enhance profitability Recent reforms have further improved the business landscape, facilitating easier entry for foreign companies.

Vietnam presents lucrative opportunities for cosmetic brands aiming to expand internationally, driven by its expanding cosmetic market and rising consumer demand The country boasts a favorable demographic profile, competitive production costs, and streamlined business registration processes, alongside tax incentives and robust intellectual property rights protection.

Communication strategy

Brand

Positioning in target market

Our innovative lipstick product lets you customize colors and shades to create a one-of-a-kind look that truly represents your personality Whether you favor vibrant, bold shades or prefer soft, understated tones, you can mix and match to design the perfect lipstick that aligns with your unique style.

Finding the ideal lipstick shade can be difficult, which is why we've developed a customizable product Our unique formula allows you to create a lip color that perfectly matches your skin tone, ensuring you look and feel your best with every application.

Discover a unique lipstick solution that offers an extensive range of color options, allowing users to save time and money With just one product, you can effortlessly create a variety of lipstick shades, helping you find your ideal match that may not be found in stores.

Go Play Cosmetics offers a unique product but struggles with brand awareness and distribution in its domestic market The current marketing strategy is ineffective, and the packaging fails to attract potential customers, hindering the company's ability to reach its target audience and grow its customer base To overcome these challenges, Go Play Cosmetics should reconsider its marketing and branding strategies, invest in appealing packaging, and explore new distribution channels to broaden its reach.

Go Play Cosmetics should evaluate its manufacturing processes to enhance efficiency and cost-effectiveness By assessing the use of the latest technology and optimizing production methods, the company can minimize waste and reduce costs, ultimately improving its overall operational performance.

The company primarily sells its products through its website, offering free shipping on orders over $80, which enhances customer convenience However, this strategy restricts access to purchasing options, as customers can only order through the website or Facebook page To increase market reach and improve customer accessibility, the company should consider expanding its sales channels by exploring popular e-commerce platforms, enabling a broader audience to discover and purchase its products.

Go Play Cosmetics must conduct a thorough analysis of its financial performance by examining revenue, costs, and profitability It's essential for the company to evaluate its pricing strategy to maintain competitiveness and meet financial objectives Additionally, assessing cash flow and capital requirements is crucial to ensure the availability of resources needed for operations and growth.

The company is currently concentrating on utilizing TikTok to promote its products, boasting over 20,000 followers Other social media platforms have proven less effective for branding and marketing efforts While the strategy emphasizes creating engaging video content on TikTok, there is a lack of diverse content types, such as informative posts, that could educate and attract potential customers Consequently, this approach may lead to missed opportunities to engage with a broader audience that favors varied content formats.

Customers praise the quality of the company's products, but the packaging fails to attract the younger generation, a vital demographic To enhance appeal, the company should revamp its packaging design by using vibrant colors, unique patterns, and overall visually appealing aesthetics This strategy will help capture the attention of potential customers and boost brand appeal among younger consumers.

The intense competition in the Vietnamese cosmetics market poses challenges for customized lipsticks in gaining market share However, leveraging e-commerce platforms can enable companies to reach a broader audience and boost sales effectively.

Every market faces challenges, with price sensitivity being a significant hurdle, especially as our products are priced higher than mass-market beauty items To address this, we will target higher-end customers while emphasizing our brand values of offering vegan, cruelty-free products GoPlay is committed to sustainability, hygiene, and personalization, showcasing our dedication to eco-friendly solutions in the beauty industry.

We are excited to import Goplay to Vietnam due to the country's rapidly growing cosmetics market, which has expanded significantly in recent years, creating ample opportunities for new entrants With a youthful population increasingly interested in beauty, there is a substantial customer base for brands to target Additionally, recent government regulations aimed at improving product quality have bolstered consumer confidence and heightened demand As our team is based in Vietnam, we possess valuable insights into local consumer behavior, economic conditions, and political contexts, along with essential relationships that will support our business Thus, Vietnam is the ideal market for introducing Goplay.

Vietnam presents an attractive opportunity for foreign cosmetic brands due to its rapidly expanding market, which has experienced a Compound Annual Growth Rate (CAGR) exceeding 16% in recent years This growth reflects a rising demand for beauty products among Vietnamese consumers, making it a promising destination for business expansion in the cosmetics industry.

From 2016 to 2020, the Vietnamese cosmetic market has shown significant growth, a trend expected to continue, attracting cosmetic brands The rise of the middle class and increasing disposable income have heightened consumer interest in personal grooming and beauty products, positioning Vietnam as a lucrative market With a population exceeding 97 million, a youthful demographic, and a high percentage of women, Vietnam is an ideal landscape for cosmetics Additionally, competitive production costs in the region allow brands to lower operational expenses and enhance profitability Furthermore, recent reforms have improved the business environment, facilitating easier market entry for foreign companies.

Vietnam presents a compelling landscape for cosmetic brands seeking international expansion, driven by efficient business registration processes, tax incentives, and strong intellectual property protections The country's burgeoning cosmetic market, coupled with rising consumer demand, a favorable demographic profile, competitive production costs, and a business-friendly environment, creates significant opportunities for growth.

Communication tools

In 2019, a groundbreaking cosmetic brand entered the lipstick mixing niche, setting itself apart from traditional lipstick products Following extensive research, we have opted for a Market Expansion Strategy to effectively penetrate the Vietnamese market.

Partnering with local cosmetics manufacturers, retailers, or beauty salons can help the brand increase its market share in Vietnam's B2B market.

Communication tools: Direct mail or email marketing campaigns to reach out to potential partners, sales presentations, and in-person meetings or calls to establish relationships with potential partners.

Participating in local beauty industry trade shows and exhibitions can help the brand showcase its products and capabilities to potential B2B customers in Vietnam.

Effective communication tools are essential for maximizing brand visibility at events Pre-show marketing strategies help promote the brand's participation, while engaging in-booth promotions and activities capture the attention of potential customers Additionally, implementing post-show follow-up campaigns ensures continued engagement with leads and prospects, fostering lasting relationships.

Creating informative content such as case studies, white papers, or product guides that showcase the brand's unique features and benefits can help attract and engage potential B2B customers in Vietnam.

Communication tools: Email marketing campaigns to promote the brand's content, social media marketing campaigns to increase visibility, and influencer partnerships to help promote the brand's content to a wider audience.

To effectively engage B2B customers in Vietnam, brands should tailor their product offerings and capabilities to align with the specific preferences and needs of this audience This strategic adaptation not only fosters a stronger connection with the target market but also enhances trust and credibility in the brand.

Communication tools: Direct mail or email marketing campaigns to promote the brand's localized offerings, in-person meetings or calls with potential customers to discuss specific needs and requirements.

Providing excellent customer service and support to B2B customers in Vietnam can help the brand build long-lasting relationships and increase customer loyalty.

Effective communication tools include email marketing campaigns for post-sale follow-ups, in-person meetings or calls to resolve customer concerns, and social media marketing campaigns that highlight the brand's dedication to exceptional customer service.

Business plan

Sales forecast

Create your own unique lipstick by mixing and matching a variety of colors and shades Whether you favor bold, daring hues or prefer subtle, understated tones, our customizable product lets you express your personality and style perfectly.

Discovering the ideal lipstick shade can be difficult, which is why we've developed a customizable solution With a small application of our unique formula, you can craft a lip color that perfectly matches your skin tone, allowing you to look and feel your best with every use.

Their innovative product presents an exciting and unique feature by offering a wide array of lipstick colors, enabling users to save time and money With a single product, users can effortlessly create multiple lipstick shades, allowing them to discover their ideal match that may be unavailable in traditional markets.

Go Play Cosmetics, despite having a unique product, faces challenges with brand awareness and distribution in its domestic market The current marketing strategy lacks efficiency, and the packaging fails to attract potential customers Consequently, the company struggles to connect with its target audience and grow its customer base To overcome these obstacles, Go Play Cosmetics should consider re-evaluating its marketing and branding strategies, investing in appealing packaging, and exploring new distribution channels to broaden its reach.

Go Play Cosmetics must evaluate its manufacturing processes to enhance efficiency and cost-effectiveness By assessing the use of the latest technology and optimizing production methods, the company can minimize waste and reduce operational costs.

The company primarily sells its products through its website, offering free shipping on orders over $80, which provides convenience but limits customer access to purchasing channels Currently, customers can only place orders via the company’s website or Facebook page To enhance accessibility and reach a broader audience, the company should consider expanding its sales channels by exploring opportunities on popular e-commerce platforms, making it easier for customers to discover and purchase its products.

Go Play Cosmetics must conduct a thorough analysis of its financial performance, focusing on revenue, costs, and profitability It is essential for the company to evaluate its pricing strategy to maintain competitiveness and meet financial objectives Additionally, assessing cash flow and capital requirements is crucial to ensure that adequate resources are available to support operations and facilitate growth.

The company is currently concentrating on TikTok for product promotion, boasting a following of over 20,000 users, while other social media platforms have proven less effective for branding They focus on creating engaging video content on TikTok, but have not fully utilized informative posts that could educate and attract potential customers This oversight may lead to missed opportunities to connect with a broader audience that prefers diverse content types.

Customers have praised the quality of the company's products, but the packaging fails to attract the younger generation, a crucial demographic To enhance appeal, the company should revamp its packaging design by using vibrant colors, unique patterns, and overall more visually appealing aesthetics This strategic improvement can help capture the attention of potential customers and boost brand appeal among younger consumers.

The Vietnamese cosmetics market is highly competitive, posing challenges for customized lipsticks to gain market share However, leveraging e-commerce platforms can enable companies to reach a broader audience and boost sales, helping them navigate the intense competition.

Every market presents challenges, and one significant hurdle is price sensitivity, as our products are priced higher than mass beauty items To address this, we will target a niche of higher-end customers Additionally, we will emphasize our brand values, which include offering vegan products that are not tested on animals GoPlay is committed to providing sustainable, hygienic, and personalized products, showcasing our dedication to eco-friendliness.

We are excited to import Goplay to Vietnam due to the country's rapidly growing cosmetics market, which has seen significant expansion in recent years, creating ample opportunities for new entrants With a youthful population increasingly interested in beauty products, there is a substantial customer base for brands to target Furthermore, recent government initiatives aimed at regulating the cosmetics industry and enhancing product quality have bolstered consumer confidence and driven up demand As our team's home country, Vietnam provides us with valuable insights into consumer behavior, economic conditions, and political context, along with essential relationships for our business Thus, Vietnam is the ideal choice for importing Goplay.

Vietnam presents a compelling opportunity for foreign cosmetic brands due to its rapidly expanding market, which has experienced a remarkable Compound Annual Growth Rate (CAGR) exceeding 16% in recent years.

From 2016 to 2020, Vietnam's cosmetic market has shown significant growth, with expectations for continued expansion, making it an attractive opportunity for cosmetic brands The rise of the middle class and increasing disposable income have led to heightened consumer demand for beauty products, positioning Vietnam as a lucrative market With a population exceeding 97 million, a youthful demographic, and a substantial proportion of women, Vietnam presents an ideal landscape for cosmetics Additionally, competitive production costs in the region enable brands to lower operational expenses and enhance profitability Recent reforms have also improved the ease of doing business, facilitating foreign companies in establishing operations within the country.

Vietnam presents enticing opportunities for cosmetic brands aiming to expand internationally, thanks to its streamlined business registration processes, tax incentives, and strong protection of intellectual property rights The country's burgeoning cosmetic market is fueled by rising consumer demand, a favorable demographic profile, and competitive production costs, making it an appealing destination for business growth.

Project income statement

Create a personalized lipstick that reflects your unique style by mixing and matching various colors and shades Whether you favor bold, daring hues or subtle, understated tones, our innovative product lets you customize your lipstick to perfectly match your personality.

Finding the ideal lipstick shade can be difficult, which is why we've developed a customizable product Our unique formula allows you to create a lip color tailored to your skin tone, ensuring you look and feel your best with every application.

Their innovative product provides users with an extensive range of lipstick colors, allowing them to save time and money By using just one product, users can easily create multiple lipstick shades and discover their ideal match, which might not be found in traditional stores.

Go Play Cosmetics, despite its unique offerings, faces challenges with brand awareness and distribution in its domestic market, falling short of expectations The current marketing strategy lacks effectiveness, and the packaging fails to attract potential customers Consequently, the company struggles to connect with its target audience and grow its customer base To overcome these obstacles, Go Play Cosmetics should consider reassessing its marketing and branding approaches, investing in more appealing packaging, and exploring new distribution channels to broaden its reach.

Go Play Cosmetics must evaluate its manufacturing processes to enhance efficiency and cost-effectiveness The company should investigate the use of cutting-edge technology and optimize production methods to minimize waste and lower costs.

The company primarily sells its products through its main website, offering free shipping on orders over $80, which provides convenience for customers but restricts purchasing options Currently, customers can only place orders through the company's website or Facebook page To enhance accessibility and reach a broader audience, the company should consider expanding its sales channels by exploring popular e-commerce platforms, making it easier for customers to discover and purchase their products.

Go Play Cosmetics must conduct a thorough analysis of its financial performance, focusing on revenue, costs, and profitability It is essential for the company to evaluate its pricing strategy to maintain competitiveness and meet financial objectives Additionally, assessing cash flow and capital requirements is crucial to ensure the availability of resources needed for operational funding and growth.

The company is currently concentrating on TikTok to promote its products, boasting a following of over 20,000 users Other social media platforms have proven less effective for branding and marketing efforts While the company focuses on creating engaging video content on TikTok, it is underutilizing informative posts that could educate and attract potential customers This oversight may lead to missed opportunities to engage with a broader audience that favors diverse content types.

Customers praise the quality of the company's products, but the packaging fails to attract the younger generation, a crucial demographic To enhance appeal, the company should revamp its packaging by using vibrant colors, unique patterns, and visually appealing designs This improvement can help capture the attention of potential customers and boost brand appeal among younger consumers.

The intense competition in Vietnam's cosmetics market poses challenges for customized lipsticks to capture significant market share However, leveraging e-commerce platforms can enable companies to reach a broader audience and boost sales effectively.

Every market faces challenges, and one significant obstacle is price sensitivity Our products are priced higher than mass beauty items, leading us to target a more affluent customer base We emphasize our brand values, which include offering vegan products that are cruelty-free GoPlay is committed to sustainability, hygiene, and personalization, showcasing our dedication to eco-friendly solutions in the beauty industry.

We are excited to import Goplay to Vietnam due to the country's rapidly growing cosmetics market, which has seen significant expansion in recent years and offers ample opportunities for new entrants With a youthful population increasingly interested in beauty products, there is a substantial customer base for brands to target Additionally, recent government initiatives to regulate the cosmetics industry and enhance product quality have bolstered consumer confidence and heightened demand As our team's home country, we possess valuable insights into consumer behavior, the economic landscape, and political context, along with essential relationships that will support our venture Thus, Vietnam is the ideal choice for importing Goplay.

Vietnam presents a promising opportunity for foreign cosmetic brands due to its rapidly expanding market, which has experienced a remarkable Compound Annual Growth Rate (CAGR) exceeding 16% in recent years.

From 2016 to 2020, the Vietnamese cosmetic market has experienced significant growth, a trend expected to continue, attracting cosmetic brands This surge is driven by rising consumer demand as the middle class expands and disposable incomes increase, leading to greater interest in personal grooming Vietnam's favorable demographic profile, with over 97 million people, a youthful population, and a high percentage of women, further positions it as an ideal market for beauty products Additionally, competitive production costs in Vietnam allow brands to lower operational expenses and enhance profitability Finally, recent reforms have improved the business environment, facilitating easier entry for foreign companies.

Vietnam presents appealing opportunities for cosmetic brands aiming to expand internationally, thanks to streamlined business registration processes, tax incentives, and robust intellectual property rights protection The country's burgeoning cosmetic market, driven by rising consumer demand, a favorable demographic profile, and competitive production costs, enhances its attractiveness for foreign investments.

Tiêu đề	Import Goplay Cosmetic To Vietnam Market
Tác giả	Trần Mỹ Bửu, Võ Hồ Vân Anh, Trần Đặng Mỹ Duyên, Châu Gia Huệ, Trần Vũ Thu Nhân, Hồ Ngọc Trân
Người hướng dẫn	Mrs. Trần Thị Thanh Vân
Trường học	Ton Duc Thang University
Chuyên ngành	Business Administration
Thể loại	final report
Thành phố	Viet Nam

Định dạng
Số trang	72
Dung lượng	8,41 MB