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International Marketing Plan
Transcript of International Marketing Plan
BACKGROUND CORE COMPETENCIES SWOT ANALYSIS ENVIRONMENTAL SCAN SOCIAL FACTORS 82% of the S. Korean population is 15+ years
The average S. Korean adult consumers is 19.89 liters of pure alcohol per year
Ranks 14th for most alcohol consumption in the world
81% drink spirits, 18% drink beer, 1% drink wine, and the remaining 1% drink other alcohol beverages
Koreans drink alcohol to socialize
Korean dramas and music videos are highly watched and copied
Koreans are very aware of the power of the brand name
Koreans are willing to pay more for better quality ECONOMIC
FACTORS South Koreans are technologically savvy
More inclined to online shopping than ever before
Cyworld, aka the Facebook of South Korea
Innovative facial recognition ads used to target adult males COMPETITIVE
FACTORS Korea already has an established brand loyalty to their products
Patron was introduced in Korea in 2007 as a luxury spirit
Soju is a main competitor due to its traditional appeal, price competitiveness, and market ubiquity
Behind soju, whiskey is 2nd in the spirit market in terms of overall sales POLITICAL FACTORS North Korea might declare nuclear war on South Korea
Korea -Mexico FTA is pending
South Korea is ranked 39th in the Global Corruption Index
South Korea also stands strong in being environmentally green REGULATORY FACTORS Any product carrying the label “Tequila 100% Agave” must be only bottled within the Appelation of Origin area
The Korea Food & Drug Administration is responsible for new-to-market spirit inspections
The Korean law requires a Korean language label on imported spirits NATURAL
FACTORS Mexico has a long history of hurricanes, droughts, volcanic eruptions, wildfires and extreme temperatures
Jalisco has previously experienced an 8.1 earthquake, hurricanes, and floods that devastated the land
Typhoon Kompasu hit the Seoul Metropolitan Area in September 2010 "Tequila Casa Noble holds in each and every one of its bottles the essence of our culture, the flavor of our land, the passion for perfection, an obsession to produce only the purest and authentic tequila.
Nothing more. Nothing less." The company was founded in 1776
Our tequila is made from blue agave plants and aged in French oak barrels
We utilize a triple distillation process
We offer three award-winning products: Crystal, Reposado, and Añejo
Distributed in 23 countries worldwide Casa Noble Tequila is 100% Organic
Casa Noble Tequila is only produced in Jalisco, Mexico
Casa Noble is a high-quality brand PLAN OBJECTIVES CUSTOMER ANALYSIS INDUSTRY ANALYSIS PORTFOLIO ANALYSIS PRODUCT-MARKET ANALYSIS MARKETING MIX RESOURCES REQUIRED & BUDGET ORGANIZATION CHART EVALUATION & CONTROL FINANCIAL NON-FINANCIAL Korea will improve Casa Noble’s market share by at least 50%
We plan to break even in two years (June 2013) Focus most of our attention into brand awareness in the first few years
By 2016, we will have a substantial hold in the Korean market so we can penetrate other large Asian markets
Then expand to other global markets GLOBAL INDUSTRY
ANALYSIS Alcohol consumption:
14th in the world (14.8 lt/cap)
65% is Spirits (9.57 lt/cap)
150 million 9-liter cases per year
4.8% increase by 2009
$11.9 billion in Revenue 100% will purchase organic
69.2% willing to pay extra for quality tequila
Korean have high demand for celebrity endorsed products Direct Competitor: Patron
Imported Liquor: Scotch and Vodka
Korean Brands: Soju, Hite, Cass, OB MARKET PRODUCTS EXISTING NEW NEW CURRENT Market Penetration: Increase Casa Noble Tequila sales in our existing markets
Increase sales by implementing new and innovation sales promotion strategies Product Development: Develop new products such as limited-edition tequilas for existing markets that already has a loyal consumer base
The new products can be customized to the needs and wants of our loyal consumers Market Development: Expand to South Korea with Casa Noble’s current product line
South Korea is a relatively new market for high-end tequilas
The demand for imported high quality product is high
Brand building is an important factor in creating a product need in this market Diversification: There is potential risk given that Casa Noble Tequila limits its products to be carefully and timely produced in order to deliver the best quality tequila for our consumers. PRODUCT PRICE PLACE PROMOTION POSITIONING Purchasing Power
Demand for high-end products
Tariffs, Taxes MARKET SEGMENTATION TARGET MARKET Gender Alcohol consumption, males 28.85
Alcohol consumption, females 7.73 Location Average alcohol per capita
consumption in South Korea 14.3
Average alcohol per capital
consumption WHO Western
Pacific Region 6.3 Limited Edition -Crystal- -Reposado- -Añejo- Economy Income Group High Income Behavioral Percentage of population
that drinks alcohol 87.2% Seoul:
Paradise Hotel CASA NOBLE TEQUILA
IN SOUTH KOREA Eric Graciano
Victoria Yuan Males over the age of 19
Trendsetters such as celebrities and well-known socialites GANTT CHART RESOURCES REQUIRED BUDGET 500 more acres of land on our existing property.
15% increase of workers in the field.
Work with South Korean government on regulations.
No new offices in South Korea.
No additional employee training in South Korea. Macro:
•14th largest GDP in the world; 3rd largest in Asia
•Ranks 13th in purchasing power parity (PPP) with $1.467 trillion in 2010.
•Currency: South Korean Won (KRW)
•10th largest importer of goods
•Ranks 16th on Ease of Doing Business Index
•South Korea still had a positive GDP growth rate during the recent economic recession Micro:
•Ranked 1st in the world in spirits consumption.
•In 2010, 8.5 million tourists visited South Korea, and 1.2 million expatriates live in South Korea.
•96.4% of college students regularly drink.
•The average monthly disposable income per household is approximately $3000 USD per month. BUSINESS DATA TO MONITOR FREQUENCY
MIX MODIFICATIONS PUSH & PULL
STRATEGY Initial Push strategy over the first 9 months (i.e. promotions & incentives).
Once our product is known, use celebrities for pull strategy.
Once Casa Noble is in the retentive stage, exclusively use a pull strategy. Fellow competing exporting spirits (i.e. Patron)
Product growth rate
South Korean GDP June 2011 to June 2013 Check results every month for the first three months.
On month four, check results after every quarter.
Results will need to be checked for distribution purposes. Positioned as a high-end 100% organic luxury spirit
Appeal to eco-friendly customers
Appeal to customers who desire luxury goods Standardization Casa Noble Tequila
Production Adaptation Advertisement
Korean Language label