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분야
hwpCurrent Marketing Situation
Product Review
Competitive Review
SWOT Analysis
Marketing strategy
Action Programs
Controls
Currently, Woongjin coway's domestic market share totals up to 50%. Woongjin was able to achieve this market share and revenue through distinguishable commercials, broad distribution structure, relatively cheap rental charges.
Even though Woongjin is having quite a successful time in Korea, they need long-term strategies to grow more. As part of the long-term plan, we suggest expansion to overseas market and improvements.
For Woongjin to effectively expand to oversea market, they need to build up their image in local market and internally, Woongjin has to reduce sales commission in order to maximize its profit.
In the following pages, we will discuss specific changes.
Current Marketing Situation
Woongjin, founded in 1989, has long hold the leading company status in water purifier market in Korea. Its total sales is up to 1 trillion(KRW) and its dominating performance shows over half of total market share in the business.
However, it seems that Woongjin is currently stuck up in raising market share. Suppose that every one of two households has a water purifier, it is obvious that Korea market is now being 'saturated'. Over 40% of its saturation say .what the company is facing. kqay Considering that its market has already grown up, Woongin should focus on how to enhance net profit. It is only 10% of total sale, mainly caused by high cost on CODY personnel, Woongin's unique market channel.
Along with such a recommended domestic policy, Woongjin must find and develop oversea market, targeting Saudi Arabia or Middle East later. The region had suffered from lacking in water resources, but recently it has saved great fortune based on affluent oil resources
