The possibity of successful cosmetics business with under 3 million baht budget. a case study of successful cosmetics market in vientiane, lao people's democratic republic
Abstract:
This research aims to explore the possibilities of successful cosmetics business in Vientiane,
Lao Peoples Democratic Republic. The result of this research shows that most respondents are female,
single, and age around 21-30 years. They obtained Bachelor Degree and work in a company. The
common salary is received in Thai currency around 5,001-10,000 baht per month. The consumer buying
behavior is mainly answered with the overall strategy of the location, followed by the strategy in price
quoting, the public relations and marketing, and quality of product respectively. Furthermore, there are
many factors involving in the successful cosmetics business such as public relation and marketing,
advertising, key product launch, innovation and technology, distributors, retail management, and
wholesale management. In regards to financial management, the owner needs to maintain balanced
finance, keep the account record up-to-date, and spare some budgets in any emergency situation. In
management section, the owner needs to carefully study the business procedure before any significant
decisions made. The owner also needs to hold integrity and sincerity in their service by strictly
following both domestic and international laws and regulations of cosmetics control group. In Macro
environmental aspect, the owner needs to provide the car park in clean and healthy area while in Micro
Environmental aspect the owner needs to select the proper distributors to expand the selling channels. In
terms of successful cosmetics business path in Vientiane, Lao Peoples Democratic Republic, there are
four ways to be achieved. First, the Board of Investment is responsible for the company registration.
Second, Ministry of Industry is responsible for the manufacturing. Third, the license is administrated by
Food and Drug Administration, Ministry of Public Health. Fourth, the Department of Intellectual
Property, Ministry of Science and technology is responsible for the Trade Mark. Fifth, The Revenue
Department is responsible for requesting the tax ID. Investors can directly contact the Headquarters or
any regional offices in Vientiane, Lao Peoples Democratic Republic. The funding of cosmetics
business includes registration, factory, product and packaging designs, PR, marketing, transportation,
employees and staff, and other cost concerning cosmetics business such as electricity, water, internet,
and telephone etc.