UNIVERSITY OF FINANCE- MARKETING

INTERNATIONAL SCHOOL OF FINANCE-MARKETING

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FINAL EXAMINATION
Asinan Entreprenuership and Innovaton
Lecturer: Nguyễn Ngọc Hoàng .

Student’s Full name: Nguyễn Thị Quỳnh Như .

Student’s ID:2021008212 .
 Today, when the economic society is developing more and more as people's living
standards change, people begin to have a need for beauty and care more about appearance. Due
to the increasing awareness of the importance of skin care, along with the development of
technology, the perception of the beauty industry is increasingly changing. Not only is there a
need for beauty only for women, but now that the number of men interested in buying skin care
products is increasing, this segment of the beauty market is growing. But currently, most
cosmetic companies to produce products have used animals to test products, this is an inhumane
business form as well as after using all the products people can only Disposing of plastic bottle
packaging leads to a large amount of waste being discharged into the environment every year.
Meanwhile, young people are gradually becoming aware of environmental protection issues and
boycotting single-use products time. Seeing these problems, I decided to start a business to
produce vegan products that can be reused after being used up to protect the environment. My
first startup product was a soy-based cleanser .
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The brand name " For you " means that this product was born for you. “ For you ” was
born with the desire that the product will be suitable for all skin types, including the most
sensitive skin. This is also considered as a commitment that the product is completely benign and
does not cause irritation to everyone's skin thanks to the use of completely 100% natural plant-
based ingredients produced by Vietnam, absolutely no use of ingredients. Using any chemical
ingredients as well as animal extracts, the product is absolutely safe for all skin types. The
mission of “ For you ” is to bring everyone a clean, beautiful, healthy and vibrant skin from
simple ingredients that people eat and use every day to create products completely benign,
suitable for everyone's skin without fear of skin irritation. The journey to become perfect and
beautiful yourself is not easy, "For you" will accompany everyone on the journey of self-
improvement. Besides helping people become more beautiful, “For you” also cares about
environmental protection and waste reduction. "For you" will join with everyone for a greener
and more beautiful earth. "For you" contributes to environmental protection and waste reduction
by giving the idea of a business model to reuse products.
The first cosmetic product that " For you " will aim for will be a facial cleanser extracted
from soybeans. Currently, the pollution of dust is increasing, which is one of the main causes of
people's skin with acne, premature aging, darkening and lack of vitality, so using a face wash is
extremely necessary for everyone. Help people can wash away the dirt after a day out in contact
with the dirt outside the environment. There are many facial cleansers on the market today, but
most of them are products that use chemical ingredients or animal extracts such as snail secretion
filtrate, honey, silk, etc., so not all skin types can also be used, especially for sensitive skin
because sensitive skin is easily irritated with the ingredients of the product. Besides, many
companies to make products will test products on animals, this is completely inhumane.
Understanding this, I want to develop a 100% vegan product that is completely plant-based so
that everyone can use it with peace of mind. Cosmetics, like food, are "nutritious foods" that
bring beauty to people. With the progress of society, people tend to seek plant-based foods to
protect their health. Along with this mindset, “ For you ” decided to choose soy as the main
ingredient to produce facial cleanser. Because soybeans are grown and always available in
Vietnam. The ingredients in soybeans have effects such as providing Vitamin E to moisturize
and rejuvenate the skin, besides, soybeans also contain phytoestrogens that are able to increase
the production of estrogen inside the body, helping reduces the appearance of wrinkles. Not only
that, soybeans also help reduce other signs of aging such as uneven skin tone, brown spots…
Besides, "For you" also cares about environmental issues, the production of a single product.
You can only use it once and then throw it away. This leads to a large amount of waste being
thrown out every year. So in order to eliminate a large amount of waste as well as save costs of
customers “ For you ” will sell the product once and after the customer has used it up, he will be
able to bring the used bottle to the store and “For you” we will pour more products into bottles
for customers and customers only pay 60% of the product value compared to the original value
of the product. This will help reduce a large amount of plastic waste discharged into the
environment, helping customers save costs compared to buying a new product bottle as well as
helping "For you" to save production costs more plastic bottles.
The target customer " For you " is young adults, aged 16-25 because the demand of this
beauty segment in Vietnam is very large. And the skin of this age is still not completely
stabilized and prone to irritation. The ingredients in the products of “For you” will be suitable for
this segment. In addition, this segment is not financially high, because " For you " is
manufactured in Vietnam as well as using available product ingredients in Vietnam, which will
save costs. Therefore, the product price of " For you " will be cheaper than products imported
from abroad, suitable for young people's budget than other products. Besides, young people
today are more and more aware of the issue of environmental protection with the model of " For
you " to help reduce plastic waste, which will be better supported and received by young people.
The short-term marketing goal will be using Influencer Marketing. In the first time of launch, so
that people quickly know the brand, will invite famous Beauty Bloggers such as Trinh Pham, Vo
Ha Linh, Makeup Artist Quach Anh, .. are highly trusted by young people to introduce the
product as well. such as asking them to spread the environmental messages that "For you" is
aiming for so that the product can be loved and received better by everyone. Combine advertise
on facebook, Youtube, beauty websites to introduce products. This will help "For you" spread
more widely, attract customers and be more trusted by customers. “ For you ” will position to
emphasize the brand as a 100% vegan and environmentally friendly product made in Vietnam.
When you use the product, you are also contributing to environmental protection. This will help
my brand become really different and easier to be remembered by people in the Vietnamese
market. The long-term marketing goal " For you " will use the strategy of Social Media Ads
combined with Gamification, which will take advantage of the social networking platform to
organize minigames such as 100% bonus rotation, with easy play rules just like share posts about
personal pages and all people can participate. Organize a program to review customers: after
customers buying and using the product, just post a review about the first impressions when
using the product with a picture of the product on Facebook will win a special gift for loyal
customers, this will help the brand be widely covered and known to more people and help
customers keep coming back to use the product . In addition, there will be a program to
accumulate points to redeem gifts when customers buy goods that reach If you get the specified
number of points " For you " , customers will get 1 free refill of the product after the customer
has used up all the products

In the life of the 4.0 era, people began to consciously take care of beauty issues.
According to the most recent report, the Vietnamese cosmetics market has a turnover of 2.3
billion USD a year and is showing signs of growing faster. According to experts, Vietnam's
cosmetic industry has great potential for development that we have not fully exploited. Besides
the increasing market demand, Vietnam is also a place with good conditions for outsourcing the
cosmetic industry. With good advantages of human resources, low processing costs, and rich
natural materials. In the Vietnamese market today, most cosmetics are imported with very few
reputable cosmetic brands made in Vietnam. Therefore, I will have many opportunities to
compete and achieve much success for the cosmetic industry market in Vietnam. Currently, there
are not many 100% vegan products in the world, so the fact that I choose to use plants to produce
vegan-oriented cosmetics will give people a new perspective on the quality of the product.
Above all, because using ingredients that are grown in Vietnam, I will be able to buy cheap raw
materials and not worry about lack of raw materials as well as dependence due to having to
import materials from abroad. With a business model that helps customers save costs as well as
contribute to environmental protection by reusing used bottles, as well as being the first brand in
Vietnam to use this model. This business will help customers feel different, easy to remember as
well as receive special recognition and support from customers about the business model "For
you" is aiming for.. Besides the positives, my brand will also face threats such as rivalry among
existing firms. In the future, more and more brands will switch to producing vegan cosmetics
because people are becoming more and more aware of the environmental issue as well as the
inhumanity issue when using animals to produce cosmetics. The number of people boycotting
this business form is increasing, so to meet the wishes of customers, big brands are gradually
switching to producing vegan cosmetics. That leads to more and more brands producing vegan
cosmetics, the market will be more competitive because customers will have more choices, I
have to compete with big brands that are already established. To solve this competitive problem I
will retain customers by competing on price as well as customer service. Thanks to
manufacturing and using a large source of raw materials in Vietnam, I am confident that my
products will be cheaper than other foreign brands. Besides, "For you " will invest in building a
strong customer care team that always listens to customers' opinions and improves product as
customers want as well as well solves faulty problems from the product that the customer
encounters as the customer wants. Thereby creating the trust of customers for " For you " making
them loyal to my products. The second problem I might encounter is threat of new entrants.The
biggest problem that I have is the capital requirements because I don't have a lot of capital to
start a business, the capital is not much having to invest in machinery to produce as well as build
a team in the company costs a lot. I will solve this problem by borrowing from banks as well as
raising capital from programs for young people to start up,find investors to raise capital
cooperating with friends to contribute capital together. Besides, I also have to make a list of
carefully calculate the use of money to pay for all activities of equipment, machinery, human
resources, marketing, ... so that it is appropriate to avoid the situation of generating financial
resources
The macro problems that “ For you ” will be affected such as The first now the
unemployment surplus of the labor force is happening this will make it easier for me to hire staff
and the cost of hiring staff will be cheaper than. But besides that, the problem of unemployment
and inflation caused the increase of essential goods such as gasoline, which negatively affected
the income of Vietnamese people and led to a decrease in spending. As a result, consumers are
more price-sensitive and thrifty towards beauty and personal care products that are considered
non-essentials. The reduction in consumer spending will affect sales as individuals will spend
more on more essential items and will no longer buy cosmetic products. The second, currently
the government has also issued many decrees and circulars on the business industry to create
favorable business conditions for businesses offer the same promotional programs for businesses
such as 5% reduction in value added tax will have the effect of pulling down product prices.
Thanks to that, I can reduce the cost of products to help stimulate people's shopping needs and
help " For you " increase sales. The third, people are increasingly trusting and supporting
products from Vietnam. The fact that " For you " is a vegan cosmetic that uses all ingredients and
is produced 100% from Vietnam will be more accepted and supported by everyone.
“ For you ” will open its own store, not in cosmetic stores such as Watson, Gugardian,
The box beauty, lam thao cosmetic, The gioi skinfood,… although this will limit access to
customers, opening a separate store will help The brand becomes separate from the products of
other brands don't get confused. Besides, the model of “ For you ” is to reuse , customers will
bring products to refill, so they have to have their own stores to have space to store equipment to
fill products. Besides, I will sell products on e-commerce platforms like Shopee, Lazada, Hasaki
and on " For you " website. In case customers who are not far away can't come to the store to
refill products, they can buy online. I would sell the product in a compostable bag to refill myself
for less money than buying a new bottle. About the store, first we will focus on opening stores in
Ho Chi Minh City because this is the most economically developed city in the country the
standard of living of people here can be willing to pay for the purchase of cosmetics, I will be
able to do business more easily and make more profit. Later, when I have more capital, I will
continue to open in big cities such as Hanoi, Hai Phong, Da Nang, Can Tho,... Expected starting
cost to invest in machinery, materials, marketing, staff, stores of “For you” is 10 billion VND, of
which I will borrow from my family 50% of the capital, 50% will be a bank loan. If there are
additional costs, I will find someone to contribute capital participate in business and share
profits. In the future, I will launch other product lines such as serum , moisturizer, makeup
remover , etc. to serve the needs of skin problems of all customers. .

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