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 DEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKET DEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKET 6.1 PRODUCT 31 6.2 PRICING 34 6.3 DISTRIBUTION 36 6.4 MARKETING COMMUNICATION 39 6.4.1 ADVERTISING 39 v DEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKET DEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKET 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 DEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKET DEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKET 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, DEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKET 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 DEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKET DEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKET 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 DEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKET DEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKET • 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 DEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKET DEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKET 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) Click Commitment total click: 9000 Estimated Impression: 4500000 9000 · 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 DEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKET DEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKET 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 housework How to keep your home neat and tidy The channel has 2.21 million subscribers • Sue Yun of Youtube channel Hamimommy is also a Youtuber with a comfortable and minimalist lifestyle with 2.04 million subscribers 43 DEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKETDEVELOPING.AN.INTERNATIONAL.MARKETING.PLAN.FOR.BAMBOO.FURNITURE.PRODUCTS.TO.ENTER.THE.KOREAN.MARKET 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