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Absolutely, it's daunting for any brand or any size
to launch in a new global market.
The winners are going to be brands that really understand the retail landscape and can strategically
manage their brand and their business for the long term. So you have to have a long
term vision and commitment to the market. You're not going to reach success overnight.
It's also critical for a brand to work with a local market partner,
one who understands
the market, one who has access and the relationships with key retailers and a partner
who also gets
your brand. In terms of marketing strategies we would recommend that
even for a smaller
brand to really own your brand and manage your brand even if you're working with a distributor.
So you need both a push and a pull strategy. A push strategy meaning you work with your
distributor and your retailers on creating retail promotions to drive traffic to your
points of distribution. But also a pull strategy to create broader awareness of your brand
through PR or online advertising if you can afford it. If you're a larger brand we would
suggest that you invest in CRM. Department stores own your customer data
so its important
that you try and establish your own relationships directly with your customers and learn from
them. And its the best way for you to hone in on marketing strategies that are really
targeted to your consumers. And finally I would suggest that you invest in a Korean
language website. Online is the first place consumers will go to
research products and
brands before purchase. So if they can't find you then you don't exist.