Assignment 2 - Global Marketing

Mind Map by chubbsie, updated more than 1 year ago
Created by chubbsie almost 6 years ago


Business Degree Global Marketing Mind Map on Assignment 2 - Global Marketing, created by chubbsie on 04/08/2014.

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Assignment 2 - Global Marketing
1 1. What aspects of the Korean Honey Market are
1.1 Favourable for Korean Food
1.1.1 Korean Food is in a Strong Financial position
1.1.2 Honey is used after ops to speed recovery
1.1.3 Canadian Honey is perceived as higher quality & lower cost then local product Popular present sent back to Korean by Korean immigrants 20-30kg
1.1.4 Korean shoppers didn't view domestic honey as pure
1.1.5 Strong Demand for Honey in Korea research suggested demand will increase it seemed likely that the domestic supply would not keep up with demand
1.2 Unfavourable for Korean foods
1.2.1 Price of Honey in Korea is High due to excess demand
1.2.2 The bulk of Korean Honey is sold through herbal medicine stores Honey Specialty stores
1.2.3 No One firm dominated the distribution system wholesale herbal medicine distributors Suply herbal medicine stores
1.2.4 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
1.2.5 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 2. Key uncertainties in the strategy suggested in marketing plan
2.1 Marketing Plan
2.1.1 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
2.1.2 Phase 2 Environment
2.1.3 Phase 3
2.1.4 Phase 4
3 3. How can marketing plan be improved?
4 4. Adress Kevin Lee's POV regarding export expansion
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