International Marketing Plan

Executive summary

This essay contains a brief discussion of potential influence from economic, cultural, political and legal environment to a product called Chatime if it will be introduced to South Korea market. Chatime is a beverage service company that provides variety choices of coffee, tea, juices and toppings to satisfy different customers’ needs. Research for those environments is necessary to prepare any impact that may affect Chatime expansion to South Korea. To analyse the economic environment in South Korea, this report analyses the population, income and consumer patterns. It is indicated that with fairly large population, high income nation, South Korea market is categorized as highly competitive yet attracting market to enter. In the cultural sector, language, aesthetic, business practice, collectivism patterns as well as material culture in South Korea are being analyzed. In the political sector and legal environment, despite the conflict with North Korea, South Korea can be categorized as low risk and politically stable as low corruption index, high protection toward property rights, fully-functioning democracy and competitive regulatory framework are indicated in South Korea. In the end of this essay, it can be concluded that Chatime is highly recommended to enter the South Korean market and it is recommended that Chatime to have a little bit modification to adjust its products to further suits Korean market environments.

1.0 Introduction

Nowadays, many firms have been doing Foreign Direct Investment (FDI) in order to benefit more. Before entering into international market, firms need to analyse several aspects. In this report, the chosen product is Innocent Drink and South Korea is the target country. Innocent Drink was first in UK in 28th April 1999 (http://www.innocentdrinks.co.uk/us/our-story). Innocent Drink is Europe’s number one smoothies brand. It sells natural and healthy products such as smoothies and juice for kids; a refreshing...