SAMYANG
1965 ‘Lotte Ramyun’ of Lotte Industrial Company (Now Nong Shim)
1969 SAMYANG Exported Ramyung to Vietnam
1983 ‘Paldo Ramyun’ by Korea Yakult Co. Ltd.
1986 Binggrae Joined theRamyun Industry
1989 Beef Tallow Crisis
2004 Ramyun Makes Up 75% ofthe Whole Domestic Noodle Market
(*Market Size = $1.7080 Billion)
SAMYANGFOOD
Established on September 15th, 1963
Sales
ofproduct dropped. Theproduct defeated in competing against other newproducts. In addition, this resulted in a damaged brand image after criticism ofproduct quality
II. Analysis ofMarket Environment
A. Macro-Environment Analysis
Consumer consciousness increases with the appearance of “well-being” trend.
• Consciousness forproduct
In a customer survey, 46% of respondents cared
ofproduct quality
Consciousness forProduct
In 2010 year
Customer survey
46% “Care about ingredient”
67% “Check theproduct label”
Consumer prosecution program
: Big hit Consciousness↑
Spread of Well-being Trend
Life style ofthe rich → Life style ofthe public
Cover the whole life area
: Not only Foodproduct category
II. Namyang
Namyang has a good image by investing heavily in the Dairy product. Based on this background, Namyang has distinctive marketing strategies.
1. Product strategy
The most important feature of Namyang's marketing is theproduct diversification. Namyang produces a variety ofproducts to respond to various consumer tastes. For example, to respond to the increasing interest in heal
the world. Its total sale was KRW 1.584 trillion, which is the 130th largest in Korea. And within food industry it ranked 6th in terms of total asset (KRW 1518.6 billion) and 3rd in total sales. Its net profit was KRW 11.9 billion .
B. International Expansion History
Nongshim is famous for its great success in the instant noodle market not only in Korea, but foreign market like China, USA, etc.