Main Article Content
Abstract
This study aims to examine current states and branding requirements of Thai innovative cosmetics industry paving the way to the introduction of branding strategies and of suggestions for developing entrepreneur’s competitiveness. The constructivism, phenomenological strategies of inquiry and interview form (research tool) have been applied by the author. The interviewed population comprises 18 informants who are chosen using purposive sampling methods, namely, public agency personnel involving in Thai innovative cosmetic goods development, renowned academics and experts in branding, Thai innovative cosmetics industry entrepreneurs, innovators, authors, developers, pharmacists, inventors of innovative cosmetics and consumers in Thai innovative cosmetics industry. The examination of collected data by means of triangulation is to ensure the reliability. According to study results, Thai innovative cosmetics industry’s strengths include biodiversity and abundance of Thai raw materials/herbs and preparedness of modern technologies in innovative cosmetics manufacturing. Meanwhile, the weaknesses are low ability in marketing element management and lack of knowledge and branding understanding, of data for SWOT analysis, and of patience in branding. Regarding opportunities, the cosmetic industry is one of the country's target industries; therefore, the entrepreneurs are supported in terms of budget, body of knowledge and research and development. Lastly, the threats are the lack of continual research and development and of actual linkage in cosmetics business cluster as well as low acceptance attitude towards Thai cosmetics brands. Therefore, entrepreneurs need to enhance brand acceptance and create the added value in Thai innovative cosmetics products via value proposition canvas and imagination process to facilitate the creation and selection of interesting ideas to add value in Thai innovative cosmetics.