Intensify Malaysian Small Medium Enterprises (SMEs) Economy through Novel Wellness Formulation Approach

| Posted by | Categories: Marketing & Branding, Silver Winners

The main aim of this project is to introduce a new business plan for Malaysian Small Medium Enterprises (SMEs) that economically affected by Covid-19 pandemic. The SMEs will be supplied with skin care formulation infused local plant extracts incorporated nanotechnology. During Covid-19, statistic reported Malaysian consumers are seeking for advance effectiveness wellness products, including for their skin care regimes. However, due to lack of Malaysian local products with innovative and highly effectiveness aspects, consumers are tend to be too dependent with imported products. Unfortunately, the expensive price and highly possibility of imported product supply disruption issues due to unexpected situation of pandemic will be a main pain point among these customers. Therefore, we as a research institute will formulate the skin care formulation and consult the SMEs regarding suitable end product that can be sell following current trend skin care market in Malaysia, besides the sustainable product supply chain will be ensured. It will give the SMEs opportunity to get a new customer demand who highly demanded (> 90% purchasing potential) for advance quality and innovative based of skin care product as well as to solve these customers’ pain point, besides their financial income will be possible to be enhanced.

Created by: Associate Professor Dr. Siti Hamidah Mohd Setapar, Zarith Asyikin Abdul Aziz, Dr. Hasmida Mohd Nasir, Zarith Asyikin Abdul Aziz, Wong Lee Peng

Contact:  siti-h@utm.my