분야
docx1. Introduction of the company
2. Current Business Environment
Ⅱ. Challenges and Solutions
1. Main challenge and its causes
2. Solutions
- Marketing Department
- Operations Department
- Financing Department
3. Short-term results
- Effectiveness of the solutions
Ⅲ. Conclusion
1. Summary
2. Group Analysis
- Long-term view on the issue
1. Introduction of the company
Amorepacific Corp. was established in 1945 with the name of Pacific Integrated Chemical Inc and renamed in 2006 as ‘Amorepacific’ to expand its business into the global market. The company has grown into the most dominant company in domestic cosmetics business with largest market share of 37%. It has a corporate vision of being an ‘Asian Beauty Creator’, stressing on 5 values of Openness, Innovation, Proximity, Sincerity and Challenge. The company aims to become a global beauty company providing cosmetics, personal care and health care as well. Its strategic goal is to be top Asian brand and top 10 global grand by 2015, emphasizing on constant brand development, Research and Development and further expansion of market share into the global market. Amorepacific Corp. puts in a lot of time and effort in the actualization of clean environment, and the world without poverty.
2. Current Business Environment
Cosmetics industry has a monopolistically competitive market structure with low-barriers to entry and a numerous number of large and small firms. Due to the existence of aggressive competition within the industry, firms need to make huge marketing efforts to differentiate their products and create brand loyalty. Most of cosmetic products have short product life-cycles, therefore existing firms need to constantly develop new products so as to keep and expand their market share.
Recently, despite unfavorable economic environment such as slowing growth and rising cost of living, cosmetics industry is experiencing a huge growth with introduction of new brands every day. As a result, firms face steeper competition and customers enjoy a wider range of choice that suits their needs and preferences.
