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Changes in Korean female consumers’ perception and purchasing behavior for imported cosmetics and marketing strategies for the foreign cosmetic brands in the Korean market. NCUK NO. : IMPG-15-0020 NAME : Yubin KIM 1 To investigate the perception and recent purchasing trends of Korean female consumers for imported cosmetics and to draw marketing strategies for foreign cosmetic brands in the Korean market. 2 1. Imported cosmetic brands to Korea → “Luxury Image” (Traditionally good reputation and strong loyalty from Korean female shoppers with the high quality and name value.) The number of the cosmetic brands in a department store (Hyundai DS in Daegu city : Open in August, 2011) – except the men/perfume brands and multiplex stores The number of brands Imported Domestic Total 23 (74.2%) 8 (25.8%) 31 (100%) (Table 1) 3 2. The growth of Korean cosmetics The so-called ‘Load shop’ cosmetic brands. (Unit : One hundred million won – Korean currency) Brand Name 2015 Sales 2014 Increase Sales 2013 Increase Sales Increase The face shop 6,291 190 6,101 629 5,472 - Innisfree 5,921 1,354 4,567 1,239 3,328 - Able C&C 4,079 -304 4,383 -41 4,424 - It’s skin 3,096 677 2,419 1,895 524 - Nature Republic 2,800 248 2,552 835 1,717 - ETUDE 2,578 -232 2,810 -376 3,186 - TONYMOLY 2,199 147 2,052 352 1,700 - 26,964 2,080 24,884 4,533 20,351 - Total (Table 2) → Jung (2016) 4 → Bloger ‘ansthetic’ (2015) Hong Kong → In Singapore 5 3. Stagnation of the imported cosmetic brands Case 1. Japanese Brands in Korea The decrease of the sales performance and number of stores : • The cosmetics sales ranking in Lotte Duty Free shop ① Hu : a Korean brand (in the first quarter of 2015) ② Seol Hwa Su : a Korean brand (in the first quarter of 2015) . . ⑦ SK-II (in September, 2015 / Ranking no. 1 in 2013) ☞ The declaration of withdrawing some duty free stores from Korea in 2015. • Orbis and DHL The decline of import amount → the next page → Han (2015) 6 Case 2. Import Amount from USA, France and the UK Japan USA 350,000 300,000 150,000 Import Value Import Value 200,000 100,000 50,000 0 250,000 200,000 150,000 100,000 50,000 0 2009 2010 2011 2012 2013 2014 2015 2009 2010 2011 Year 2013 2014 2015 2013 2014 2015 Year France The UK 300,000 50,000 250,000 Import Value Import Value 2012 200,000 150,000 100,000 50,000 0 2009 2010 2011 2012 Year 2013 2014 2015 40,000 30,000 20,000 10,000 0 2009 2010 2011 2012 Year ♠ Unit : USD1,000 / HS code : 3304 → Korea Customs Service website (2009) 7 4. The change of distribution channels : offline → online, home shopping and overseas direct purchase. 8 Recently, are there any changes in Korean female consumers’ perception for imported cosmetic in reality? If yes, what changes have occurred? Do the changes lead changes of their purchase behavior? If so, what brands do they actually purchase? (What do they purchase more between domestic and imported cosmetic brands?) What marketing strategies are needed for foreign cosmetic brands to keep or raise the sales performance? 9 What is Marketing? ♦ Definition : The process to make customers feel satisfied and gain value from them + “Competition” ♦ Terms of reference for International Marketing : Macroenvironment : Economic, Socio-Cultural, Political-Legal, Technological Influences Microenvironment : Attractiveness of the Target Market, Capability of the Company → Ellis-Chadwick and Jobber (2013, pp.4-5, 775-779) 10 Marketing Failure vs. Success ♦ Knight (1995) – Failed Cases : Sameness : The approach method to the problem Difference: Culture vs. Trend ♦ Barson (2007, 2008) – Successful Cases: Eight Traits for Successful Brands : Product, Research, Personality, Targeting, Integration, Connection, Consistency, Distribution Limitation: They are not global marketing cases. 11 Methodology Multi Methods Primary Quantitative Questionnaire Secondary Qualitative Literature Interview 12 Questionnaire Purpose : Statistical Data Collection Object : Korean women customers Randomly nominated in accordance with each age group Different occupations and incomes Distribution : Online Quota (Google survey) + Snowball Technique 200 people (including worthless response) 13 The composition of questions : The total number of questions : 17 Basic questions : age, occupation, income The level and elements of interest The logical flow : The brands that respondents used → are using → will use & the reasons Directly asking questions : Which one do you prefer between domestic and imported brands? Why? Purchase channels Objective : 16 / Subjective : 1 (optional) Mandatory questions : 9 Multiple response allowance questions : 6 14 The current state : The present number of respondents : XX Preference between domestic and imported brands Figure (Percentage) Domestic Imported Don’t care Total XX (XX%) XX (XX%) XX (XX%) XX (100%) Limitation: The concentric distribution in a specific age range → Paper question sheets → Geographical limit Logical errors in some questions → Solved by modifying the questions No response or Insincere response → To secure plentiful respondents Analysis : To analyze the correlation with variables (age, income) To connect with the data from interviews 15 Interview Purpose : Non-Numerical Data Collection (Psychological Factors + Purchase Decision Process) Object : 3~5 people among the respondents who answer the questionnaire Interview Type : Informal Interview (Unstructured or Semi-structured) Alternative Method : A Small Focus Group 2~3 Korean Female Students in INTO Manchester 16 The current state : The present number of interviewees : 1 32 years old, a self-employed person The changes she has felt about cosmetic brands - Domestic Brands : Improved Quality - Imported Brands : Expensive but High Quality * old thinking about the image rather than changes The difference between domestic and imported cosmetics - Domestic Brands : Wide range of prices, More suitable for Korean women’s skin (skincare line) - Imported Brands : Small Amount for the price The changes she has felt about the Korean cosmetic market - The increase of the number of brands, stores and product lines → Difficulty to select products because of the increased sorts 17 Limitation : The risk to be concentrated on a specific age range and informal type interview → The effort to find interviewees in wide spread of ages Analysis : To analyze the data in words, which is difficult to be statistically converted To state data in figures, which is frequently mentioned and connect with statistics drawn from the questionnaire 18 Literature Purpose : To get more knowledge or theories about customer behavior and marketing To help a solid conclusion Finally, the research will be triangulated by comprehensively mixing each data collected by the above methods. 19 Avon Products, Inc., 2012. COMPANY PROFILE Avon Products, Inc.. Avon Products, Inc. SWOT Analysis., [e-journal] pp.1-9. Available through: EBSCO host website <http://web.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=257d582d-a095-4f64-b2253845d7de1691%40sessionmgr111&vid=45&hid=102> [Accessed 29 January 2016]. Avon Products, Inc., 2013. COMPANY PROFILE Avon Products, Inc.. Avon Products, Inc. SWOT Analysis., [e-journal] pp.1-9. Available through: EBSCO host website <http://web.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=257d582d-a095-4f64-b2253845d7de1691%40sessionmgr111&vid=41&hid=102> [Accessed 29 January 2016]. Avon Products, Inc., 2014. COMPANY PROFILE Avon Products, Inc.. Avon Products, Inc. SWOT Analysis., [e-journal] pp.1-8. Available through: EBSCO host website <http://web.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=257d582d-a095-4f64-b2253845d7de1691%40sessionmgr111&vid=38&hid=102> [Accessed 29 January 2016]. Avon Products, Inc., 2015. COMPANY PROFILE Avon Products, Inc.. Avon Products, Inc. SWOT Analysis., [e-journal] pp.1-8. Available through: EBSCO host website < http://web.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=257d582d-a095-4f64-b2253845d7de1691%40sessionmgr111&vid=47&hid=102> [Accessed 29 January 2016]. Barson, D.C., 2007. The Sweet Smell of Success. Global Cosmetic Industry, [e-journal] 175(11), pp.40-42. Available through: EBSCO host website <http://web.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=257d582d-a095-4f64-b2253845d7de1691%40sessionmgr111&vid=21&hid=102> [Accessed 25 January 2016]. 20 Barson, D.C., 2008. Creating A Successful Brand in Challenging Times. Global Cosmetic Industry, [e-journal] 176(12), pp.24-26. Available through: EBSCO host website <http://web.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=257d582d-a095-4f64-b2253845d7de1691%40sessionmgr111&vid=28&hid=102> [Accessed 25 January 2016]. Bilinska-Reformat, K. and Stefanska, M., 2015. Influence of the global crisis on customer purchase behavior versus changes in the retail commerce. Review of Business, [e-journal] 36(1), pp.99-112. Available through: EBSCO host website <http://web.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=257d582d-a095-4f64-b2253845d7de1691%40sessionmgr111&vid=11&hid=102> [Accessed 19 February 2016]. Ellis-Chadwick, F. and Jobber, D., 2013. PRINCIPLES AND PRACTICE OF MARKETING. 7th ed. Maidenhead: McGraw-Hill Education. Guthrie, M.F. and Kim, H., 2008. The relationship between consumer involvement and brand perceptions of female cosmetic consumers. Journal of Brand Management, [e-journal] 17(2), pp.114-133. Available through: EBSCO host website <http://web.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=257d582d-a095-4f64-b2253845d7de1691%40sessionmgr111&vid=7&hid=102> [Accessed 12 February 2016]. Han, S., 2015. The Japanese cosmetics which are expelled by Korean beauty products. Energy Economy Newspaper, [online] 29 Oct. Available at: <http://www.ekn.kr/news/article.html?no=177907> [Accessed 21 January 2016]. 21 Knight, G.A., 1995. Educator Insights: International Marketing Blunders by American Firms in Japan-Some Lessons for Management. Journal of International Marketing, [e-journal] 3(4), pp.107-129. Available through: EBSCO host website <http://web.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=257d582d-a095-4f64-b2253845d7de1691%40sessionmgr111&vid=5&hid=102> [Accessed 4 February 2016]. Korea Customs Service, 2009. The actual export and import record. [online] Available at: <http://www.customs.go.kr/kcsweb/user.tdf?a=user.newTradestatistics.NewTradestatisticsAp p&c=1001&mc=STATS_INQU_TRADE_050> [Accessed 20 February 2016]. Lee, J.A. and Usunier, J.C., 2005. Marketing Across Cultures. 4th ed. Harlow: Pearson Education Limited. Young, V.M., 2012. Avon Exiting South Korea, Vietnam. WWD: Women’s Wear Daily, [e-journal] 204(122), p.1. Available through: EBSCO host website <http://web.b.ebscohost.com/ehost/detail/detail?sid=257d582d-a095-4f64-b2253845d7de1691%40sessionmgr111&vid=16&hid=102&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d %3d#AN=84570628&db=buh> [Accessed 19 January 2016]. 22