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International Marketing Country Notebook: South Korea and Dragon Eye

This is for our International Marketing class where we "adopted" a country focusing on Intl. Mktg Principles.

Daniel Rice

on 13 April 2011

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Transcript of International Marketing Country Notebook: South Korea and Dragon Eye

in South Culture Economics Market Plan Conclusion Competition & Marketing Product Price Place Promotion Korea Located between China and Japan
Ancient history
Geography and Cities South Korea South Korea Trends Trends Alcohol Dragons -Seoul- 9.7 mil, Pusan- 3.6 mil, Inche’on- 2.7 mil, Deagu- 2.5 mil U.S.’s 7th largest trade partner Homogeneous with a few Chinese, U.S. citizens, and South East Asian and Russian workers

Modernized with advanced tech and economy -Country was mostly livestock and farming until 50 years ago 46% non-religious, 26% Christian, 26% Buddhist
80% live in city and has a 98% literacy rate
Government and relationships -Derived from Confucianism ~5 types of relationships
~Makes for extremely collectivistic and patriotic peoples -In contrast to North, South Korea is a healthy modern democracy Oldest traditions are part of modern trends -Relationships, Alcohol, and Dragons
-High context culture
-Focus on underlying communication
-To build relationships, you need an atmosphere to let inhibitions go Kibun- similar to pride or reputation

Nunchi-ability to discern kibun -Done primarily through eyes, but also other four senses Harmony of relationships

Interpretation of kibun is critical to forming business relations Still a part of modern life

Blue dragon- lucky, represents spring, and stands for East cardinal direction

“Dragon Dream” example (interview with Laura Mimms) Economy & Trade Channels Sales Tactics Marketing Tactics & Efforts Record Growth

Natural Resources

Agricultural Products

Thriving Industries Exports -Export Markets Imports -Import Markets Trade Agreements Social Drinking -Grocery Stores


-Specialty Stores Word of Mouth

Visual Advertising -Billboards
-Internet Mobile Marketing -Via the phone and the internet Social Media Product Quality -Enjoyed in a social setting Not sold internationally
Sold to distributors -They sell to restaurants, and other popular venues where social drinking is encouraged. Word of mouth influence
Pull strategy Competition Segmentation Strategy Chum-Churum Chamisul Jinro Chamisul Soju -World’s most popular soju drink Lotte Liquor Chum-Churum Soju -Localized
-Extensive advertising 58% soju market share in South Korea

Economies of scale -Huge distribution area worldwide
-Capital Brand name strength -Jinro is a household name in Korea Advertising -Song Hye-gyo Created and distributed locally

Largest plant in Asia

Specifically marketed to Asian cultures

Advertising -Lee Hyori Our target market: -Seoul, South Korea ~Population 9,778,000 -Businessmen
-Age range: 21-50
-Upper Middle- Upper Class The Company The Product The New Product RGI Brands


Moti Goldring, Jared Rapp

Patrick Brisset

500 establishments in United States 40% 80 proof

Worlds only blended Vodka -Wheat, Barley and Rye Handmade

The Gensac Spring

“Dragon” -Pursuit of what person wants and deserves Dragon Eye

South Korea Business Etiquette

Why Dragon Bleu -Asia and Dragons
-Blue dragon = East, creation of new things
-Kibun concept
-Nuchie concept Soju sells for 500-3,000 Won in South Korea

Price skimming strategy

Product positioned for sophistication and high quality

Purchased by those with more disposable income

Sell for roughly $10-$12 per 300 mL bottle Strategy Shipping Distribution FedEx -Air and ground
-International distribution network 100 Bottles -4.13 a pound
-$826 for transaction Seoul -Department stores ~Shinsegae
~Hyundai Future Distribution -Ocean freight
-High-end restaurants Approach Trade Shows The Campaign Advertisements Magazines Internet Banner Magazine Full Page/Color Our approach -Use undertones in verbiage and leverage cultural symbols
-Campaign phrase “Drink sensibly”- 눈에 띌 정도로 한잔
-What we want to communicate: ~“Our drink enhances nunchi”
~Implies dragon like ability to sense Competitor approach -Soju uses images of pure looking women with product
-Use this style to our advantage Seoul International Wines & Spirit Expo Seoul Gift Show Seoul International Food & Food Tech Expo Trade booth -25,500 people in attendance
-General alcohol industry of Seoul as well as world -Gifts are a major part of Asian culture
-Set standard for gift giving -50,000 in attendance
-Many professionals from diverse number of industries
-Great opportunity for us to mingle and network while getting name out there -Modern progressive business theme
-Plenty of free show “schwag” to give away with our name on it Media advertisements -Based on Yin Yang and Duality
-Using young woman as feature
-Regular colored side = white part of Yin Yang
-Blue colored side = black part of Yin Yang
-Also incorporates “Drink sensibly”, Dragon Bleu logo, and picture of Dragon Eye Other advertisements -Cross couponing (Both are regional to Seoul) -84% male, around age of 48 with average net worth of 1.4$ million
-25% CEO status, 73% in senior management positions
-Published once a month = major pass along readership -Focused on professionals in major industries of Seoul 1) Ruler-Subject
2) Husband-Wife
3) Brother-Sister
4) Parent-Child
5) Friend-Friend Korean cuisine fusion (particularly with French)
Drinking is commonplace in business relations
Alcohol brings social barriers down and reveals kibun
Quality relationships, trust, and responsibility are important for business relations. Team Caliente Quatro Presents: (Brent Cox, Camille Drummond, Cotis Hammock, & Daniel Rice)
Full transcript