vì) ),)ðydaaii
Selection of targeting (Ho Chi Minh city) Q2 122211121 251101 10122111111 ke re 16
6.2 International overhead expenses Format report
3.3 selection of clients, distributor and partner
3.2 Choosing method of market entry
5.2 Positioning in target market 6.1 Sales forecast
2.4 Selection of targeting (Ho Chi Minh city) Q2 122211121 251101 10122111111 ke re 16
3.2 Choosing method of market entFY 0 2 2211211221121 1 211211 1511212112 1010112112105 111 1k ren re 18
3.3 Selection of clients, distributor and par(R€FS 0 202 21211221221 1211 221221812112 111 1e che 19 BM CHIMES ae 19 b Companies that provide cosmetics import in Vie(nam 2 0 2 222221121222 ey 23
4.1 Product and service seleCfẽon nh nà HT HH HT TH TH HH rệt 51 4.1.1 Product and service selecfion nen nh TH HH HH HH TH Hit 51 4.1.2 Target 90 na h6 55
4.2 Standardization and adaptation .0000 00000 0 ccc cece ceeeteeeceeeaeesceseecaeeseeneecssteseaeeeneaeesneentesees 56 Xu an ri 57
5.3.5 Customer serVice and SIPDOF 0 20 12122121 912222 1122111111112 25111 0112115111110 102111 kt 65
Section 1: Background analysis 1.1 Internal analysis
Welcome to GoPlay Cosmetics, a company dedicated to providing high-quality, innovative beauty products that empower individuals to express their unique style and personality
Our unique product allows you to mix and match different colors and shades to create a lipstick that is uniquely yours Whether you prefer bold and daring hues or subtle and understated tones, you can customize your lipstick to reflect your personality and style
We understand that finding the perfect lipstick shade can be a challenge, and that's why we created this customizable product With just a small amount of our special formula, you can create a lip color that is perfectly suited to your skin tone, ensuring that you look and feel your best every time you wear it. a Product portfolio:
Go Play Cosmetics offers a range of makeup products including lipsticks, lip scrub, makeup remover balm, moisture drops
BO —=- a é e The strengths and weaknesses of current offerings:
Their product offers users a fascinating and distinctive feature by providing a plethora of lipstick color options, which can save both time and money With just one product, users can create numerous different lipstick shades, and this feature can also help them find their perfect match that may not be available in the market
Despite offering a fascinating and unique product, the brand awareness and distribution of Go Play Cosmetics within their domestic market do not meet the expected standard The company's marketing strategy appears to be inefficient, and their packaging 1s not attractive enough to entice potential customers As a result, the company is struggling to reach its target audience and expand its customer base To address these challenges, Go Play Cosmetics may need to re-evaluate its marketing and branding strategies, invest in more attractive packaging, and explore new distribution channels to reach a wider audience
Manufacturing: Go Play Cosmetics should assess its manufacturing processes to ensure that they are efficient and cost-effective The company should evaluate whether it is using the latest technology and whether it is optimizing its production processes to minimize waste and reduce costs
The company currently distributes its products primarily through its main website, and offers free shipping for orders over $80 While this approach ensures that customers can conveniently purchase products directly from the company, it limits the number of available channels for customers to access and purchase their products
Customers must visit the company's website or Facebook page to place an order In the future, the company should consider expanding its sales channels by exploring opportunities to sell its products on popular e-commerce platforms This would allow the company to reach a wider audience and make it easier for customers to discover and purchase their products
Go Play Cosmetics should analyze its financial performance, including revenue, costs, and profitability The company should evaluate its pricing strategy to ensure that it is competitive and that it allows the company to achieve its financial goals The company should also assess its cash flow and capital requirements to ensure that it has the necessary resources to fund its operations and growth
Currently, the company is primarily focusing on leveraging the TikTok platform to showcase and promote their products, with a following of over 20,000 users Other social media platforms have not been as effective in terms of improving their branding and marketing campaigns The company has adopted a strategy of creating engaging video content on TikTok, but other types of content, such as informative posts, are not being utilized as much to educate and attract potential customers As a result, there may be missed opportunities to engage with a wider audience who prefer different types of content
Customers have provided positive feedback on the quality of the company's products
However, the packaging of the products is not particularly attractive to the younger generation, which is a key demographic for the company In order to appeal more to this demographic, the company should focus on improving the design and aesthetics of its packaging This can include incorporating more vibrant colors, unique patterns or designs, and making the packaging more visually appealing overall By doing so, the company can better capture the attention of potential customers and increase brand appeal among the younger generation pg 10
- The considerable concern of natural and organic ingredients in cosmetics in Viet Nam, accelerates greatly 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
- 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- young, with an expanding interest in | timers beauty, providing a great potential target customer
- The Vietnamese cosmetics market is still enormous room for further growth and development
- The use of social media and e- - Intense competition in Vietnam cosmetics market may limit the ability of customized lipsticks to attain market share, will encounter to strong competition from pg I commerce platforms can help companies reach a wider audience and increase sales
- 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 also has its difficulties The first obstacle is price sensitivity, since the price is costly compared to mass beauty products in current market, therefor we embrace to limit the market by focusing of higher-end customers Furthermore, we are going to communicate brand values is that bringing vegan products, not tested on animals GoPlay has been navigating to sustainable, hygienic and personalized products, concurrently have shown that this is an eco-friendly product pg 12
However, we are going importing Goplay to Vietnam by reflection on reasons following as: The cosmetic in Vietnam is standing on growth term The market scale has increased significantly in recent years, available space for new entrants Vietnamese population has many younger who are interested in the beauty, these factor will offers a large customer base for brands to target In addition, the Vietnamese government has recently taken steps to regulate the cosmetics industry and improve the quality of products, which lead to improve consumer confidence and increase demand Moreover, Vietnam is our team country so we can understand consumer insight, the behavior, economic situation, politics context and have enough relationship which neccessary for our firm Therefore, Viet Nam the best choice for us to imported Goplay
Section 2: Market selection 2.1 Concentration (Vietnam)
There are several reasons why a cosmetic brand in a foreign country might consider choosing Vietnam as a market to expand their business: a Growing cosmetic market: Vietnam's cosmetic market has been growing rapidly in recent years, with a Compound Annual Growth Rate (CAGR) of over 16% from 2016 to 2020, according to a report by Statista This growth 1s expected to continue in the coming years, making it an attractive market for cosmetic brands to enter b Increasing consumer demand: With the rise of the middle class and increasing disposable income, Vietnamese consumers are becoming more interested in personal grooming and beauty products This trend is expected to continue, making Vietnam a lucrative market for cosmetic brands c Favorable demographic profile: Vietnam has a large population of over 97 million people a relatively young population and a high proportion of women This makes it an ideal market for cosmetics and beauty products d Competitive production costs: Vietnam offers competitive production costs compared to other countries in the region, which can help cosmetic brands reduce their operational expenses and increase profitability e Ease of doing business: Vietnam has implemented various reforms to improve its business environment, making it easier for foreign companies to set up operations in the country
ẽóaTE€f €TITV 0 0200121121101 221121 12110112 111211111 1110111111 T1101 1 11g11 1111 H1 1111 11 1101 H111 111 re 18
Negotiating conditions Q22 n2 2n HH 121111112111 11k ren 24
6.2 International overhead expenses Format report
3.3 selection of clients, distributor and partner
3.2 Choosing method of market entry
Standardization and adaptation .0000 00000 0 ccc cece ceeeteeeceeeaeesceseecaeeseeneecssteseaeeeneaeesneentesees 56 Xu an ri
5.2 Positioning in target market 6.1 Sales forecast
2.4 Selection of targeting (Ho Chi Minh city) Q2 122211121 251101 10122111111 ke re 16
3.2 Choosing method of market entFY 0 2 2211211221121 1 211211 1511212112 1010112112105 111 1k ren re 18
3.3 Selection of clients, distributor and par(R€FS 0 202 21211221221 1211 221221812112 111 1e che 19 BM CHIMES ae 19 b Companies that provide cosmetics import in Vie(nam 2 0 2 222221121222 ey 23
4.1 Product and service seleCfẽon nh nà HT HH HT TH TH HH rệt 51 4.1.1 Product and service selecfion nen nh TH HH HH HH TH Hit 51 4.1.2 Target 90 na h6 55
4.2 Standardization and adaptation .0000 00000 0 ccc cece ceeeteeeceeeaeesceseecaeeseeneecssteseaeeeneaeesneentesees 56 Xu an ri 57
5.3.5 Customer serVice and SIPDOF 0 20 12122121 912222 1122111111112 25111 0112115111110 102111 kt 65
Section 1: Background analysis 1.1 Internal analysis
Welcome to GoPlay Cosmetics, a company dedicated to providing high-quality, innovative beauty products that empower individuals to express their unique style and personality
Our unique product allows you to mix and match different colors and shades to create a lipstick that is uniquely yours Whether you prefer bold and daring hues or subtle and understated tones, you can customize your lipstick to reflect your personality and style
We understand that finding the perfect lipstick shade can be a challenge, and that's why we created this customizable product With just a small amount of our special formula, you can create a lip color that is perfectly suited to your skin tone, ensuring that you look and feel your best every time you wear it. a Product portfolio:
Go Play Cosmetics offers a range of makeup products including lipsticks, lip scrub, makeup remover balm, moisture drops
BO —=- a é e The strengths and weaknesses of current offerings:
Their product offers users a fascinating and distinctive feature by providing a plethora of lipstick color options, which can save both time and money With just one product, users can create numerous different lipstick shades, and this feature can also help them find their perfect match that may not be available in the market
Despite offering a fascinating and unique product, the brand awareness and distribution of Go Play Cosmetics within their domestic market do not meet the expected standard The company's marketing strategy appears to be inefficient, and their packaging 1s not attractive enough to entice potential customers As a result, the company is struggling to reach its target audience and expand its customer base To address these challenges, Go Play Cosmetics may need to re-evaluate its marketing and branding strategies, invest in more attractive packaging, and explore new distribution channels to reach a wider audience
Manufacturing: Go Play Cosmetics should assess its manufacturing processes to ensure that they are efficient and cost-effective The company should evaluate whether it is using the latest technology and whether it is optimizing its production processes to minimize waste and reduce costs
The company currently distributes its products primarily through its main website, and offers free shipping for orders over $80 While this approach ensures that customers can conveniently purchase products directly from the company, it limits the number of available channels for customers to access and purchase their products
Customers must visit the company's website or Facebook page to place an order In the future, the company should consider expanding its sales channels by exploring opportunities to sell its products on popular e-commerce platforms This would allow the company to reach a wider audience and make it easier for customers to discover and purchase their products
Go Play Cosmetics should analyze its financial performance, including revenue, costs, and profitability The company should evaluate its pricing strategy to ensure that it is competitive and that it allows the company to achieve its financial goals The company should also assess its cash flow and capital requirements to ensure that it has the necessary resources to fund its operations and growth
Currently, the company is primarily focusing on leveraging the TikTok platform to showcase and promote their products, with a following of over 20,000 users Other social media platforms have not been as effective in terms of improving their branding and marketing campaigns The company has adopted a strategy of creating engaging video content on TikTok, but other types of content, such as informative posts, are not being utilized as much to educate and attract potential customers As a result, there may be missed opportunities to engage with a wider audience who prefer different types of content
Customers have provided positive feedback on the quality of the company's products
However, the packaging of the products is not particularly attractive to the younger generation, which is a key demographic for the company In order to appeal more to this demographic, the company should focus on improving the design and aesthetics of its packaging This can include incorporating more vibrant colors, unique patterns or designs, and making the packaging more visually appealing overall By doing so, the company can better capture the attention of potential customers and increase brand appeal among the younger generation pg 10
- The considerable concern of natural and organic ingredients in cosmetics in Viet Nam, accelerates greatly 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
- 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- young, with an expanding interest in | timers beauty, providing a great potential target customer
- The Vietnamese cosmetics market is still enormous room for further growth and development
- The use of social media and e- - Intense competition in Vietnam cosmetics market may limit the ability of customized lipsticks to attain market share, will encounter to strong competition from pg I commerce platforms can help companies reach a wider audience and increase sales
- 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 also has its difficulties The first obstacle is price sensitivity, since the price is costly compared to mass beauty products in current market, therefor we embrace to limit the market by focusing of higher-end customers Furthermore, we are going to communicate brand values is that bringing vegan products, not tested on animals GoPlay has been navigating to sustainable, hygienic and personalized products, concurrently have shown that this is an eco-friendly product pg 12
However, we are going importing Goplay to Vietnam by reflection on reasons following as: The cosmetic in Vietnam is standing on growth term The market scale has increased significantly in recent years, available space for new entrants Vietnamese population has many younger who are interested in the beauty, these factor will offers a large customer base for brands to target In addition, the Vietnamese government has recently taken steps to regulate the cosmetics industry and improve the quality of products, which lead to improve consumer confidence and increase demand Moreover, Vietnam is our team country so we can understand consumer insight, the behavior, economic situation, politics context and have enough relationship which neccessary for our firm Therefore, Viet Nam the best choice for us to imported Goplay
Section 2: Market selection 2.1 Concentration (Vietnam)
There are several reasons why a cosmetic brand in a foreign country might consider choosing Vietnam as a market to expand their business: a Growing cosmetic market: Vietnam's cosmetic market has been growing rapidly in recent years, with a Compound Annual Growth Rate (CAGR) of over 16% from 2016 to 2020, according to a report by Statista This growth 1s expected to continue in the coming years, making it an attractive market for cosmetic brands to enter b Increasing consumer demand: With the rise of the middle class and increasing disposable income, Vietnamese consumers are becoming more interested in personal grooming and beauty products This trend is expected to continue, making Vietnam a lucrative market for cosmetic brands c Favorable demographic profile: Vietnam has a large population of over 97 million people a relatively young population and a high proportion of women This makes it an ideal market for cosmetics and beauty products d Competitive production costs: Vietnam offers competitive production costs compared to other countries in the region, which can help cosmetic brands reduce their operational expenses and increase profitability e Ease of doing business: Vietnam has implemented various reforms to improve its business environment, making it easier for foreign companies to set up operations in the country