DEVELOPING AN INTERNATIONAL MARKETING PLAN FOR BAMBOO FURNITURE PRODUCTS TO ENTER THE KOREAN MARKET

THE FINANCIAL UNIVERSITY OF FINANCE & MARKETING DEVELOPING AN INTERNATIONAL MARKETING PLAN FOR BAMBOO FURNITURE PRODUCTS TO ENTER THE KOREAN MARKET Majors: Marketing Specialized: Marketing Management Class: CLC_20DMA09 Course code: 2221702031209 Instrutor: Master Đặng Huỳnh Phương Student Implementation: Name Student Number Trương Quốc King 2021008461 Nguyễn Hoài Nam 2021008483 Huỳnh Ngọc Tâm 2021008541 Lê Thanh Thảo 2021008550 Ho Chi Minh city, 2022 i TEACHER’S COMMENTS Student Implementation: Name Student Number Contribution (100%) Nguyễn Hoài Nam (Team Leader) 2021008483 25% Trương Quốc King 2021008461 25% Huỳnh Ngọc Tâm 2021008541 25% Lê Thanh Thảo 2021008550 25% (This part is for teachers to directly guide and comment on students) Score in numbers Teacher signature (Score in numbers) (Teacher signature) MAJORS MARKETING MASTER ĐẶNG HUỲNH PHƯƠNG ii Executive Summary Research the furniture market, especially bamboo furniture This is one of the consumption trends in the coming time, especially in the Asia-Pacific region, especially Korea, a potential market That's why my team decided to in-depth Korean market research to come up with a marketing plan After having data for research, the next step is to learn about issues such as culture, economy, society, etc of the land of kimchi Then identify the target customers and devise the most reasonable marketing mix strategies possible to ensure the achievement of the set goals iii Table of Contents CHAPTER 1: COMPANY OVERVIEW 1.1 COMPANY INTRODUCTION 1.2 VISION & MISSION 1.3 COMPANY CULTURE 1.4 COMPANY RESOURCE 1.5 SWOT OF COMPANY CHAPTER 2: COUNTRY SELECTIVE 2.1 REASONS WHY CHOOSE SOUTH KOREA 2.2 RESEARCH ON WOODEN FURNITURE MARKET IN KOREA 2.3 OVERVIEW OF THE DEVELOPMENT HISTORY OF SOUTH KOREA 2.4 NATIONAL BUSINESS ENVIRONMENT 2.4.1 PEOPLE 2.4.2 GOVERNMENT 10 2.4.3 GEOGRAPHY OF SOUTH KOREA 14 2.4.4 ECONOMY 15 2.4.5 MARKET POTENTIAL AND SCALE 18 2.4.6 MEDIA & TECHNOLOGY 19 2.5 INDUSTRY COMPETITORS .20 2.5.1 MARKET SHARE OF FURNITURE BUSINESSES IN SOUTH KOREA 20 2.5.2 DIRECT COMPETITOR 21 2.5.3 INDIRECT COMPETITORS 22 2.6 POTENTIAL OF NEW BUSINESSES ENTERING THE INDUSTRY 22 2.7 SUPPLIER STRENGTH 22 2.8 CUSTOMER STRENGTH 23 2.9 RISKS AND THREATS FROM SUBSTITUTE PRODUCTS 23 CHAPTER 3: ENTRY MODE SELECTION 24 CHAPTER 4: TARGET MARKET .26 4.1 SEGMENTATION 26 4.2 TARGETING 27 4.3 POSITIONING 27 CHAPTER 5: EXTERNAL ENVIRONMENT ISSUES 29 5.1 POLITICAL RISK 29 5.2 DIFFERENCE IN CULTURE 29 5.3 EXCHANGE RISK 29 5.4 LEGAL AND TAX ISSUES 30 CHAPTER 6: MARKETING STRAGETY 31 iv 6.1 PRODUCT 31 6.2 PRICING 34 6.3 DISTRIBUTION 36 6.4 MARKETING COMMUNICATION 39 6.4.1 ADVERTISING 39 v LIST OF TABLE AND FIGURE Picture 1.1: Logo of Asian Craft Picture 2.1: Furniture Revenuew in Korea from 2017 to 2025 Picture 2.2: Market size forecast Picture 2.3: Korea's development Picture 2.4: Korean family Picture 2.5: Korean house design Picture 2.6: Korean meal Picture 2.7: Korean wall-street 10 Picture 2.8: OECD Ministerial Conference 13 Picture 2.9: The FDI incentives offered by the South Korean Government 13 Picture 2.10: Korea map in the world 14 Picture 2.11: Korean phone usage rate based on population 19 Picture 2.12: Most-used social media platforms in Korea 20 Picture 2.13: Furniture Market share in Korea 20 Picture 4.1 Positioning Map 28 Picture 5.1: Furniture distributor in korea 37 Table 2.1: Value of exports and imports by continent, country block and some major markets in months of 2022 and compared to months of 2021 iv CHAPTER 1: COMPANY OVERVIEW 1.1 Company introduction Full name: Asian Craft Co.,LTD Established: 11/04/2013 in Hanoi Asian Craft is an enterprise specializing in manufacturing, trading, and exporting highclass handicrafts from Cao Lanh Stone, Buffalo Horn, Fine Art Snails, and Sculpture Products Exporting products to China and ASEAN countries Picture 1.1: Logo of Asian Craft 1.2 Vision & Mission Guided by its pioneering aspirations as well as a sustainable Manufacture - Exporter Development strategy, Asian Craft has been striving to become Vietnam’s and the regions’s leading Handicraft exporter business group, which aims to become a Group of international stature and standards Asian Craft's aspires to establish its Vietnamese brand, demonstrating Vietnamese intellectual prominence and pride in the international arena With the Mission: - - - For the market: To provide premium products and services of international standards that are original, highly creative and embedded with local identities In addition to its outstanding quality, each product - service contains a cultural message with a view to best cater for customers’ legitimate needs For employees: To develop a professional, dynamic, creative and humane working environment, enabling high income and equal development opportunities for all employees For society: To harmonize the company’s and society’s benefits; to make active contributions to community-oriented activities, and to demonstrate citizens’ sense of responsibilities and national pride Asian Craft's continously improves all services to respond to the credibility and expectation of customer as well as to build prestige in the market 1.3 Company Culture Their handicraft products are not only ordinary daily life items but also artistic works representing the culture of the nation Aslan Craft has reached the pinnacle of quality, variety of types, sophistication in each pattern, and sophistication in each product to satisfy every choice of customers They work on the credibility and trust of our customers 1.4 Company Resource Financial sources: Property (year) - Cash and cash equivalents: 16 billion VND Short-term receivables: VND 113 billion Inventory: 79 billion VND Other short-term assets: VND 20 billion Fixed assets: 38 billion VND Investment real estate: 51 billion VND Long-term financial investment: 35 billion VND Human resources: a team of experienced and skillful artisans is selected from traditional craft villages in Vietnam, combined with professional design experts, taking people as the central factor in their activities construction and development Research and development With the gideline: Customer's smile is our happiness Our company is constantly improving techniques, production processes, and service to aim at the best product quality for customers in order to maximize work efficiency and bring great value to customers client Their handicraft products are not only ordinary daily life items but also works of art representing the culture of the nation Asian Craft has reached the pinnacle of quality: The variety of types, the sophistication in each pattern, the subtlety in each product to satisfy every choice of customers We work on the credibility and trust of our customers Production process of products from bamboo knitting • Step 1: Choose bamboo and rattan materials Choose the best bamboo of Quang Phu - Quang Dien - Thua Thien Hue rattan and bamboo craft village, which is not young, not old, grows straight and has high hardness To get the desired work, the artist must first understand the material he will make The best type of bamboo must be the one that is not young, not old, straight growing, with high hardness As for rattan, it is necessary to choose a type of sufficient size, about 5m long, straight, round, and free from pests Trees that are too old or too young are not good • Step 2: Prepare ingredients For bamboo materials: Bamboo is cut down and then dried again It is then treated with anti-termite treatment There are two common ways to fight termites: it is put in the XM5 chemical bath - an easy-to-use and very safe forest product preservative for users, or it is soaked in water according to the traditional manual method For rattan materials: Rattan has a lot of sharp thorns around, so the preliminary processing of rattan needs to be very careful The outer thorny shell will be peeled off, revealing the white rattan flesh inside After that, rattan is also dried slightly, to move to the initial processing stage • Step 3: Material handling For bamboo materials: Bamboo is shaved, polished with sandpaper, then put in the oven, using straw or bamboo leaves to smoke, which has the effect of creating color, helping to dry the material, and helping to prevent warping After smelting, the bamboo will have a western brown or dark brown color When the bamboo is cooled, it will be bent straight For rattan materials: Rattan is dried quite carefully, both to dry the material and to get the color When drying, if there is too much smoke or too little smoke, the clouds will turn red As for the drying process, if it rains, the rattan fiber loses its beauty, if it is exposed to the sun, the rattan fiber loses its freshness If the cloud is not dry enough, the skin will be dull, if the cloud is too dry, it will lose its soft shine Therefore, the process of drying rattan requires a lot of effort from craftsmen • Step 4: Split yarn To be able to weave rattan and bamboo, it needs to be split and spun The size and length of the yarn will depend on the specific type of product Usually, the large yarn will be used to knit the product, and the small yarn will be used to make more elaborate products The rattan splitting needs to be very attentive because rattan fibers often have uneven nodes, so when splitting, it must be very skillful and skillful so that the rattan fibers are even The quality and aesthetics of rattan-bamboo fibers are one of the leading factors determining the value of traditional bamboo and rattan products • Step 5: Construction and manufacturing of products After the knitting is complete, the product will be dipped in glue, painted in color, glossed over the surface, and trimmed to perfection The materials, after being processed, will be knitted and shaped by the talented and skillful hands of artisans in the village to become beautiful and attractive products 1.5 SWOT of Company Strength - Financial strength - Having a long-standing and reputable brand in the industry - Experienced in exporting because the company's existing products have been exported to China and ASEAN markets Diversified product portfolio Weakness The product design stage is still limited because before the design is traditional, making items that have been used in the past based on experience, but have not yet approached or absorbed the requirements of the market world school The market share of bamboo products is not high The cost has not been optimized, the price is still high Marketing channel is not working effectively Opportunity The business field is being expanded, there are many opportunities for development and success in the future, especially the Korean market Strong growth in furniture market The government always encourages businesses to develop, especially products with national culture There are few competitors for this bamboo and rattan product Challenge Meet the rules of origin and origin procedures as well as labor and environmental commitments are quite complicated Exchange rate risk due to selling products abroad Shipping costs tend to increase Strong competition in Korean handicraft industry Sbamboo's interior not only focuses on versatility but also focuses on meticulousness and sophistication in every detail The design and style are new and unique, but still keep the traditional features of Korean culture, to avoid causing boredom Each SBamboo product is produced as a work of art with its own unique style Product line and product mix: Furniture from bamboo and rattan Sbamboo The living room's furniture • Furniture, decorations from rattan • Furniture and decorations from bamboo • Furniture and decorations from cork Kitchen furniture • Furniture, decorations from rattan • Furniture and decorations from bamboo • Furniture and decorations from cork 32 The Ansoff matrix: Sbamboo adopts a strategy of diversification by marketing new products in a new market, which is the Korean market Rattan, bamboo and bamboo furniture has also appeared in South Korea, but it is not as popular as wooden handicraft products, ceramics, stone or fabric, etc Therefore, Sbamboo has hit the market This school, specifically the office class, is middle-class in South Korea They have a modern lifestyle but prefer minimalism for their home Therefore, Sbamboo has used the strategy of expanding product lines, investing in outstanding quality, diversified designs, especially investing in improving the versatility of products to attract this target group Packaging: Brand name: S-bamboo Logo: eye-catching, S-shaped made from yellow bamboo Symbol: Green bamboo bush - in the eyes of Koreans and Vietnamese people, bamboo represents the indomitable spirit, resilience in the face of storms Then this bamboo also has the same meaning, along with that, the bamboo symbol reminds the product's material and the product's durability over time Protect the core product: The product will be wrapped with layer of plastic and layer of patterned paper with a combination of Korean five colors (white, black, red, yellow and blue) to create a colorful appearance on the outermost layer to ensure safety product safety during transportation as well as increase the aesthetics for customers The product packaging paper layer can be recycled or reused by customers 33 Auxiliary: Warranties: Product return policy within months if the fault is caused by the manufacturer Shipping service: Sbamboo will free shipping within 10km, beyond that range Sbamboo will support customers with 50% of the shipping cost Installation service: Sbamboo will have a support staff to install products for free when customers buy large-sized products 6.2 Pricing To achieve the set goal, in the condition that the product is not much different from the market and especially supply and demand are affected by price, Sbamboo will focus on promoting awareness and loyalty become a brand, increase market share, convert customers from competitors, create demand and most of all, surpass small competitors So Sbamboo uses a pricing strategy for new products that are market penetration With the ability to optimize production costs from Vietnam and an efficient distribution system, Sbamboo can fully use this pricing strategy Then, as analyzed above, this is a potential market, the market share still has many gaps, so with the resources of Sbamboo Corporation, it is completely possible to accept a small profit even with no profit strategy market penetration pricing strategy About the valuation method: To be able to have a small profit to maintain the development of the business, Sbamboo should use the Cost-Plus Pricing method A Sbamboo product can be priced as follow: - Sales: 1000 products Total fixed cost: 25,000,000 won Fixed cost per product: 25,000,000/1000= 25,000 won Variable cost per product: 15,000 won Total variable cost: 15,000*1000= 15,000,000 won Total cost: 15,000,000+25,000,000=40,000,000 won Desired rate of return: 40,000,000*10%= 4,000,000 won Expected profit per product: 4,000,000/1000= 4,000 won Unit price = 25,000+15,000+4000 = 44,000 won Types of discounts available When entering a new market, Sbamboo should implement a promotional strategy when it has just launched its first brand At this time, the customer will receive a free product when 34 buying another product Besides, there is also a membership card to increase the rate of returning old Kh In this way, it is possible to introduce more new products at the same time and still make customers feel excited and buy more (this is called loss leader) Early payment discount: The members in the distribution channel who pay on time according to the contract are entitled to a payment discount of 1.5% of the total payment value Other channel discounts: Due to selective and exclusive distribution, Sbamboo negotiates with retail chains and stores to sell at a 20% discount Large discounts are required to attract and convince retail chains to trust and distribute products At that time, the price to consumers was 52,800 won Quantity discount: For partners who buy in large quantities (companies, restaurants, etc.), there will be an additional discount of 7-10% compared to the retail price Price changes in international markets: In the future prices may change, increase or decrease due to factors such as changes in production costs, changes in tax regulations, or exchange rates The company needs to consider methods to avoid customer dissatisfaction Compare these to competitors’ prices It is easy to see because the fixed cost is made in Vietnam, labor and materials are quite cheap, so most of Sbamboo's prices are smaller than other big brands, typically Ikea, this is a chair at IKEA selling for 10,000 won higher than Sbamboo while the material and shape are quite similar 35 6.3 Distribution Distribution target Optimizing the cost of the channel system, closely checking the channel members From there, the brand increases its awareness and managers need to operate the distribution channel so that the price reaches the users most transparently and the product delivery to the user is not interrupted Distribution Strategy Realizing that the leading enterprise and the previous enterprises still not have much market share and advantages in the industry, Sbamboo orients itself as a market challenger So Sbamboo will first attack small businesses to have an advantage in brand and market share and then start attacking competitors of the same size Therefore, Sbamboo uses a selective distribution strategy through reputable stores and retail chains and distributes directly through Sbamboo stores Using selective distribution is because this strategy can help the product to be widely deployed in the market and can both ensure product quality as well as brand reputation The distribution of products is concentrated mainly in Seoul, and other cities including Busan, Daegu, Incheon, Gwangju, Daejeon, Ulsan In addition, based on a selective distribution strategy, it can also be distributed to the remaining provinces, aiming at the goal that any customer can experience and buy products across the country Distribution channel structure: 36 Direct channel: Sbamboo opens major stores in Seoul, and other cities including Busan, Daegu, Incheon, Gwangju, Daejeon, Ulsan The aim is to enhance the customer experience and introduce new products The stores are arranged in crowded places, the space is spacious In addition, Sbamboo also sells its products on the company's website Indirect distribution channels: Through three large retail chains specializing in furniture such as MIRAGE FURNITURE (13 stores); KOREAN FURNITURE (18 stores); GAGUWANG (16 stores) These are all large furniture trading systems with some stores scattered in many provinces and cities across the country They have a team of staff, a large warehouse to be able to preserve and sell the best partner's products Picture 5.1: Furniture distributor in korea Physical distribution Methods of transportation From Vietnam to Korea: using water transport, specifically the ship of Best Logistics As: 37 • • • • • Fast delivery time and exact deadlines Can be transported from Ho Chi Minh City and Hanoi to 192 countries around the world Update orders continuously, locate parcels by GPS, follow orders High security of data management system Preferential prices save up to 50% compared to services of other units From Korean port to agent: As the most popular and optimal form of road transport in Korea, SBamboo will choose JBG Logistics, a logistics company in Busan that is very convenient for SBamboo to transport goods Material handling After the production process, the goods are transported from the warehouse of Southeast Asia Handicrafts Import and Export Co., Ltd in Hanoi to Hai Phong seaport Goods will be stored at the warehouse of Best Logistics company Cargo will be from Hai Phong seaport to Busan port The port of Busan is one of the largest cargo ports in the world and also the largest port in Korea, accounting for 66% of Korea's total import and export volume Hire the transport company JBG Logistics to transport the goods transported by the company to SBamboo's warehouse system in Busan, and from here to distribute to SBamboo's retail stores nationwide Inventory location Using a third-party system because the warehouse method of storing inventory helps SBamboo save costs The warehouse system in Busan is cheaper than in other cities and not as noisy and bustling as in Seoul Due to its central location, convenience for transportation and close to the seaport, SBamboo saves transportation costs Order processing An order processing system (sorting, packing, shipping) orders collect data from customer service personnel or direct customers, stores the data in a database center, and sends order information to the accounting and shipping department Compare it to competitors’ distribution It can be said that most of the competitors like Hyundai and Ikea are too focused on big cities, especially Seoul So Sbamboo decided to come up with a distribution strategy so that everyone can buy the best price and quality products 38 6.4 Marketing Communication 6.4.1 Advertising Advertising purpose: • Create Sbamboo brand awareness to target customers • Show customers the benefits of using the product • The difference between Sbamboo products with other furniture on the market • Drive purchase intent and customer experience Advertising objective: • Increase awareness of Sbamboo furniture products by 70% in years • 25% increase in intention to buy Sbamboo furniture in years • Increase 50% customer satisfaction on Sbamboo furniture products in years Brand association: • When thinking of the Sbamboo brand, customers will associate the image of closeness, warmth, and a comfortable lifestyle of the family • Product features: multi-purpose furniture products made from main materials are bamboo, rattan and cork • Sticking with life: convenience, modernity Select advertising channel: Sbamboo decided to advertise on channels: online and offline, but the online channel still occupies an important position Because on average, Korean citizens spend hours and 37 minutes on the internet every day, with hours and 51 minutes watching videos (broadcast and streaming) and hour and minutes using social networks (Hootsuite, 2021) In South Korea, online video consumption has long surpassed traditional TV channels, with more than half taking place on mobile devices With the current video viewing rate of consumers increasing, Sbamboo decided to launch online advertising videos on Youtube, Kakaotalk, and Facebook platforms Table 7.1: Stages of Advertising First years: Consciousness and influence stage Offline advertising: outdoor led screen system, posters Online advertising: - Display Youtube ads - Google Adwords - Local magazines - Newspaper 39 Next years: The Stage of Pushing Action and Loyalty Offline advertising: billboard, TV Online advertising - Email advertising - Ads displayed on Neva and Daum · 6.4.1.1 Offline advertising: Create small booths in major Korean shopping fairs to promote products, such as: • Dongdaemun Market • Mugeo-Dong Street, Ulsan • Namdaemun Market, Seoul • By putting the product standees in front of the store, displaying the products in a prime location, convenient for customers Show a video of multi-purpose furniture in front of the store to give customers a better understanding of the product • For billboard ads and posters with the same message as "Sbamboo, bring convenient and artistic interior solutions for your home", "SBamboo - were to experience highclass and convenient lifestyle" is placed at high-traffic locations in Korea • With Led screen advertising: SBamboo will show a short 15s clip about a person who only lives in a house of 30m2 but he can enjoy all the conveniences because of the use of multi-purpose furniture Ads are placed in front of the Sbamboo store and at street intersections and on buildings • In smaller cities such as Yongin, Suwon, Seongnam, Namyangju, SBamboo will organize product experience sessions for customers to learn more deeply about multi-purpose furniture from bamboo, rattan and cork to increase brand awareness • SBamboo will advertise on TV a video with the theme "live your way", with the message "no matter where you are, as long as you "know how to live", you will have a fulfilling life" 6.4.1.2 Online advertising Besides mobile phones, Koreans use most other new technologies More than 92% of homes have computers and South Korea is the world leader in high-speed internet with more than 80% of homes connected In which, 97% of Koreans are internet users, along with 45.79% of active social network users, accounting for 89.3% of the total population Evaluation and selection of online advertising channels: On social networks, SBamboo will choose Youtube, Kakaotalk, Facebook and Instagram channels mainly to promote TVC "live your way", introduce products to increase awareness of target customers and create sales programs to increase sales 40 • Because Youtube is the most popular social networking platform in Korea Every month, Koreans spend almost 39 hours on Youtube • Kakaotalk accounts for 96% of the social messaging market Kakaotalk monthly active users increased by more than 45 million This application has become an inseparable part of Korean people's daily life • Instagram with over 16 million Instagram users in Korea The largest user group is aged between 25 and 34, accounting for 35% of the total population, followed by the 18-24 age group, which makes up 27.5% of the population SBamboo will easily reach its target customers • Facebook reaches 13 million Facebook users in South Korea through ads Regarding newspapers and magazines, SBamboo will choose KBS World, The DongYang News and Hankook Email Advertising SBamboo will email potential customers with a special furniture product line and invite them to the store to experience Newspaper and Magazine Advertising in newspapers and magazines, SBamboo will post about the benefits of using multi-purpose furniture and how to use it to make the house more tidy, as well as introduce SBamboo products For newspapers and magazines, SBamboo will publish in small newspapers and local newspapers to reach more customers in smaller cities and provinces of Korea 6.4.1.3 Social network Facebook Ads Description Week quantity Unit The amount of interaction Facebook adspage like Run ads to increase the number of followers on the page 12 15000 follow 19.500 follow Facebook adsPage Post Engagement Run ads to increase interaction / stimulate consumers with the content posted on the page 12 36 Post 19.500 reacts (cmt/like/share) Facebook adsClick to website Run ads currently on the adallowed area (newsfeed, right column) of Facebook 9000 Click Commitment total click: 9000 Estimated Impression: 4500000 41 Instagram Ads Description Week quantity Instagram adsPage Post Engagement Run ads to increase the number of followers on the page Target audience: Female from 30-40 years old (60%) and 25-30 years old (40%) Run ads to increase interaction / stimulate consumers with the content posted on the page Instagram adsClick to website Run ads currently on Instagram's ad-allowed zones Instagram adspage like Unit The amount of interaction 12 15000 follow 19.500 follow 12 36 Post 19.50 interact (comments/like/share) 9000 Click Commitment total click: 9000 Estimated Impression: 4500000 · 6.4.1.4 Sale Promotion Online: link with famous Korean e-commerce platforms like Kakaotalk to promotions Days Time Promotion Mid Autumn 10/8-15/8 (lunar calendar) 15% off the total bill Black Friday 26/11-29/11 20% off the total bill Christmas 24/12-25/12 10% off the total bill Offline: Promotions are held at SBamboo stores nationwide on major Korean ceremonies such as Days Time Promotion Black Friday 26/11-29/11 Discount 20% Mid-Autumn 10/8-17/8 (lunar calendar) Mid-Autumn week: 20% off the total bill Days Time Promotion 6.4.1.5 Public Relations SBamboo will organize furniture exhibitions from rattan and bamboo, where brands and artisans of this industry will gather 42 All proceeds from the exhibition will be donated to help the disabled, the homeless, the elderly alone in poor areas of South Korea such as Guryong village - which is known as the great slum the poorest and the poorest in Seoul The exhibition program will be announced on all SBamboo social media platforms and in press releases • Influencer KOL: Post videos about the minimalist lifestyle, daily life and product introduction of SBamboo • YouTube "슛뚜 Sueddu" 23-yearold celebrity with a minimalist and simple lifestyle has an influence on young people with 972,000 channel subscribers • Kim Sang-mi Youtube channel owner Haegreendal, a graphic designer and a Korean housewife So the content of the youtube channel mainly revolves around cooking and 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Retrieved from Santander Trade: https://santandertrade.com/en/portal/establish-overseas/south-korea/foreigninvestment Người nước cư trú Hàn Quốc lần đầu vượt mốc 2,5 triệu người (2020, 17) Retrieved from KBS World Vietnamese: http://world.kbs.co.kr/service/news_view.htm?lang=v&Seq_Code=44574 Tình hình xuất khẩu, nhập hàng hóa Việt Nam tháng tháng /2022 (2022, 17) Retrieved from Hải quan Việt Nam: https://www.customs.gov.vn/index.jsp?pageId=442&tkId=5283 Bae, I Y (2020, 3) Furniture sales in Korea rise Retrieved from Retailin asia: https://retailinasia.com/in-markets/furniture-sales-in-korea-rise/ Ngành công nghiệp nội thất Hàn Quốc (2021, 6) Retrieved from Fnews: https://www-fnnewscom.translate.goog/news/202105061744163295?_x_tr_sl=ko&_x_tr_tl=vi&_x_tr_ hl=vi&_x_tr_pto=wapp 45 Register Company in South Korea (n.d.) Retrieved from TETRA CONSULTANTS: https://www.tetraconsultants.com/jurisdictions/register-company-in-south-korea/ Setting up a company in South Korea (n.d.) Retrieved from Shieldgeo: https://shieldgeo.com/setting-up-a-company-in-south-korea/ Lee Jaejin, Lee SungJun (2022) A Case Study on Dynamic STP strategy of The Interior Brand, LX Hausys 인테리어 브랜드의 역동적 시장세분화 전략 : LX하우시스(LXH)의 시장세분화 전략 사례 46 ... to 2021, then held the No position in 2022, the company has held the No market share in the field of kitchen furniture and furniture for many years Selected as the #1 company in the kitchen furniture. .. internationalization is chosen to enter the Korean market instead of the theory of internalization; According to the eclectic theory or OLI, the enterprise still lacks many factors, such as the. .. between its products and competitors is large, the designs of bamboo and bamboo products are not too diverse, so the price factor and product quality will be more interesting to customers At the same