Market Segmentation
We defined place and price/function as
the 2 most important factors that determine the sectors.
By Place
Divide into 2 Sector : salon and non-salon
Non-salon: Usually sells at supermarkets, cosmetic stores etc.
Salon: Tends to be more sensitive to trends.
By price and function
Divide into 2 Sector : Premium and non-premium
Generally the premium
market of Korea has grown to exceed Asia and be ranked among top luxury good consumption country in the world.
2. What is Brand for in PremiumMarket?
In the mass market, price and quality are the most important factors. However, in the luxury goods market, consumers are not as sensitive to price and do not feel much difference in quality among the luxury goods. This shows how highly stan
1. Environmental Analysis of the Premium Ice cream Market
Economic Environment
● Expand of the Premium Ice cream Market, premium ice cream companies have continued expand sales channels. Premium ice cream entrenched position as favorite food for four seasons
● Purchasing Power - Floating population of the region located the stores
● Exchange rate
Recent U.S. financial crisis a
The size of premiummarket in Korea has been growing even in the situation of depression and the size of the luxury market is large.
Luxury market growth
Korean luxury market size
Brand Global ·Asia Rank
HERMES 4th (Global)
CHANEL 2nd ~3rd (Asia)
LUIS VUITTON 2nd ~3rd (Asia)
GUCCI 2nd (Asia)
PRADA 3rd (Asia)
CARTIER 5th (Global) 3rd (Asia)
BUGALI 5th (Global) 3rd (Asia)
TIFF
market expansion. Media spotlighted the effects of cacao beans; mainly anti-aging and vascular system improvement. However, in 2008, as the melanin problem occurred, entire confectionary market shrunk drastically more than 13% compared to 2007. (See Exhibit 1).
Trend – Companies are focusing on high-quality premium products. Lotte in 2006 launched ‘Dream cacao’ series containing hig