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Assignment 2 - Global Marketing
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Mind Map on Assignment 2 - Global Marketing, created by striven17 on 18/08/2015.
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global marketing
Mind Map by
striven17
, updated more than 1 year ago
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chubbsie
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Assignment 2 - Global Marketing
1. What aspects of the Korean Honey Market are
Favourable for Korean Food
Korean Food is in a Strong Financial position
Honey is used after ops to speed recovery
Canadian Honey is perceived as higher quality & lower cost then local product
Popular present sent back to Korean by Korean immigrants
20-30kg
Korean shoppers didn't view domestic honey as pure
Strong Demand for Honey in Korea
research suggested demand will increase
it seemed likely that the domestic supply would not keep up with demand
Unfavourable for Korean foods
Price of Honey in Korea is High due to excess demand
The bulk of Korean Honey is sold through
herbal medicine stores
Honey Specialty stores
No One firm dominated the distribution system
wholesale herbal medicine distributors
Suply herbal medicine stores
Increased competition
Dong Seo Foods
Well known in korean food processing industry
Buys honey direct from domestic producers
they process it, package it, label it then sell it though large food stores
Regulatory Changes
Until 2011 Honey Could be Imported by
the Ministry of Agriculture
Head of Agriculture Co-op
With permission from the MOA
With a 25% Tariff Charged
At the end of 2011
with a trade surplus
Outside Political pressure
The Korean government relaxed certain import restrictions
Honey imports were now allowed
but only for hotel use
this could be favorable as well as unfavorable prior to 2011
2. Key uncertainties in the strategy suggested in marketing plan
Marketing Plan
Phase 1
Environment
Import restrictions will change over time
Threat of competition
other importers
Other Canadian honey makers
First time Canadian Honey will be introduced to Koreans
only for commercial uses
Canadian honey will not be available directly to koreans as all honey imported will be used for hotels
Product
Only introducing Canada 1. white honey
Price
Low price of Canadian Honey being perceived as low quality by the koreans
Not knowing the price of other importers
Canadian
Other Honey producers
Australia
Distribution
Honey used in hotels now bears distributors name not producers
Other distribution channels
Promotion
Door to Door / Person to Person method
Marketing Budget
Government Lobbying being biggest expense
Timing
Consentrating on seoul inititally
continuance of Phase 1 until government open market
When will this be??
Marketing Action plan
taking 50% of market in 3 years, but they are only opening the market slowly through Seoul
Phase 2
Environment
Phase 3
Phase 4
3. How can marketing plan be improved?
4. Adress Kevin Lee's POV regarding export expansion
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