Assignment 2 - Global Marketing - created from Mind Map_1

1. What aspects of the Korean Honey Market are Favourable for Korean Food Unfavourable for Korean foods Korean Food is in a Strong Financial position Canadian Honey is perceived as higher quality & lower cost then local product Korean shoppers didn't view domestic honey as pure Strong Demand for Honey in Korea Honey is used after ops to speed recovery Popular present sent back to Korean by Korean immigrants 20-30kg research suggested demand will increase it seemed likely that the domestic supply would not keep up with demand Price of Honey in Korea is High due to excess demand The bulk of Korean Honey is sold through No One firm dominated the distribution system Increased competition Regulatory Changes herbal medicine stores Honey Specialty stores wholesale herbal medicine distributors Suply herbal medicine stores 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 Until 2011 Honey Could be Imported by At the end of 2011 this could be favorable as well as unfavorable prior to 2011 the Ministry of Agriculture Head of Agriculture Co-op With a 25% Tariff Charged With permission from the MOA with a trade surplus Outside Political pressure The Korean government relaxed certain import restrictions Honey imports were now allowed but only for hotel use

2. Key uncertainties in the strategy suggested in marketing plan Marketing Plan Phase 1 Phase 2 Phase 3 Phase 4 Environment Product Price Distribution Promotion Marketing Budget Timing Marketing Action plan Import restrictions will change over time Threat of competition First time Canadian Honey will be introduced to Koreans Canadian honey will not be available directly to koreans as all honey imported will be used for hotels other importers Other Canadian honey makers only for commercial uses Only introducing Canada 1. white honey 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 Honey used in hotels now bears distributors name not producers Other distribution channels Door to Door / Person to Person method Government Lobbying being biggest expense Consentrating on seoul inititally continuance of Phase 1 until government open market When will this be?? taking 50% of market in 3 years, but they are only opening the market slowly through Seoul Environment

3. How can marketing plan be improved?

4. Adress Kevin Lee's POV regarding export expansion

Assignment 2 - Global Marketing