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분야
doc2. The Challenge
2.1 STP
2.2 Market analysis
3. 4Ps
3.1 Product
3.2 Price
3.3 Place
3.4 Promotion
4. Conclusion
4.1 Value proposition
Our marketing focus, made explicit in this plan, renews our vision and strategic focus on adding value to our target market segments. This project will examine and carry out an analysis of the feasibility/ desirability of entering the Hong Kong market with an existing product, rice beverage, expanding into a new geographic region.
2. The Challenge
2.1 STP
-Segmentation
Our company has broken our market segment into groups according to Country-based classification. Considering all the rice-culture countries in East Asia, China, Japan, Vietnam, Taiwan, and so on, we came to a conclusion that China is the most attractive market with huge potential due to its increasing middle class population, the influence of the Korean wave and the increasing awareness of the people on well-being and diet. Yet, its large market size and investment seems too risky for our company to enter. So, we have chosen Hong Kong as a test market to expand business to mainland China in the long run. Hong Kong has a combination of the Western and Eastern culture and that their consumption pattern is similar to the Korean consumers which seem to make our business more profitable. Also, once we position ourselves in the Hong Kong market, it will be much easier to enter the mainland Chinese market. Chinese consumers tend to think that products that succeed in Hong Kong are premium products, and the consumers will feel self-esteem in their purchase. This was true for Korean and Japan. There even is a saying that what succeeds in Japan will succeed in Korea. Once a trend is set in Hong Kong, Chinese consumers will follow naturally looking after Hong Kong. So, it will be important to capture the Hong Kong consumers first.
http://www.austrade.gov.au/Food-and-beverage-to-Hong-Kong/default.aspx
CIA World fact book website. Retrieved on Oct. 22nd from https://www.cia.gov/library/
publications/the-world-factbook/
Circle K website. (2006). Retrieved on Nov. 30th from http://www.circlek.com/CircleK
Discover 한국보건산업진흥원(KHIDI) official website. (2006). Retrieved on Nov. 22nd, 2007
from http://www.khidi.or.kr/
Discover Hong Kong website. Retrieved on Nov. 22nd from http://www.discoverhongkong.com
/login.htmlInvestopedia website. Retreived from http://www.investopedia.com/terms/
v/value proposition.asp
Hankuk Yougurt website. (2007). Retrieved Dec.1st, 2007, from https://www.yakult.co.kr/
default.asp
Hong Kong tourism board website. (2007). Retrieved on Nov. 30th, from http://www.discover
hongkong.com/eng/gourmet/index.jhtml
Jill Konrath (2007.) How to Write a Strong Value Proposition. Retrieved on Dec. 1st,
