| With the economic development and consumption transformation and upgrading,consumers,especially female consumer groups,are increasingly pursuing beauty,and the cosmetics industry is developing rapidly.With the increasing pressure of life,consumers require skin care products to have higher professional effects such as anti allergy,anti-inflammatory and acne removal.Skin grade skin care products should be born according to the demand.As a leading enterprise in the dermatology grade skin care products market,Botanee has made changes and innovations in the skin repair of sensitive muscle groups,its consumer groups and product characteristics.Can we build a valuation model suitable for Botanee in combination with the characteristics of the enterprise for research? This paper will combine the characteristics of Botanee’s products and consumers,improve the evaluation method,and evaluate the enterprise value of Botanee.This paper analyzes the development status of Botanee’s skin care industry,the characteristics of skin care products at the dermatological level,as well as Botanee’s own competitive advantages and financial situation.Dermatology grade skin care products are mainly aimed at sensitive muscle groups,which are greatly affected by marketing.The Internet is an important channel for them to obtain information.Therefore,when predicting the market share of Botanee’s core brand "Winona",combined with the consumer purchase decision theory,this paper considers and adjusts the prediction effect of the change of Internet search index on the market share,and then calculates Botanee’s operating income and enterprise free cash flow,as well as the discount rate and discount period,the appraisal value of Botanee is 51.768 billion yuan.Through the valuation analysis of Botanee,this paper draws the main research conclusions: first,dermatological skin care products enterprises are different from traditional cosmetics enterprises,mainly in two aspects: products and consumers;second,dermatology grade skin care products enterprises are more suitable to use the income method to evaluate;third,the relevant theoretical research of network search data is introduced into the evaluation of Dermatology grade skin care products enterprises,making the evaluation results more targeted and reasonable.This study provides new ideas and methods for asset appraisal professionals to evaluate the value of Dermatology grade skin care products enterprises.This appraisal idea focuses on the analysis of enterprise characteristics,makes the valuation results more scientific and reasonable,enriches the enterprise value appraisal theory,and provides a reference for other skin care products enterprises with similar business models and consumer groups as Botanee,It has certain theoretical and practical significance.At the same time,for such skin care enterprises with high professional barriers and young consumers,we should pay attention to building multiple marketing channels,improving brand awareness and increasing the network voice among consumers. |
