Strategic marketing planning in South Korea : Finnish company entering South Korean beauty market : Case Lumene
Trofimova, Iuliia (2020)
2020
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2020112724658
https://urn.fi/URN:NBN:fi:amk-2020112724658
Tiivistelmä
The thesis focuses on the development of a strategic marketing plan for Lumene Oy to enter the beauty market in South Korea. The research objectives aim to investigate the phenomenon of the strategic marketing planning process according to theoretical knowledge and practical constituent on the basis of Lumene company. In 2014, the company had an attempt to enter the South Korean market, however, there is no relevant data associated with it now. The beauty industry in South Korea is diverse, it gives brands new opportunities for business expansion. Lumene already has experience of entering the global market and gains success in such countries as the USA and Russia. The thesis includes an analysis of the country’s marketing environment with the purpose to illustrate the main differences between South Korea and Finland and describe factors of influence towards strategic decisions.
The theoretical framework explains the concepts of the marketing environment itself and strategic marketing planning. The section includes visualization related to the strategic process for the comprehensible picture. The information used in the research was ac- quired through academic literature sources, books, articles, magazines, case studies, reports, statistics, and online blogs.
The empirical framework is based on practical research regarding the macro-environment in South Korea and necessary data about Lumene company. The marketing environment is drawn by PEST-analysis, while essential information for a strategic marketing plan about the company is gathered from official web-sources and case studies. In addition, thesis includes an analysis of the beauty industry after the COVID-19 impact.
The last chapter summarizes theoretical and empirical knowledge and creates a research solution expressed by a strategic marketing plan. The research results do not provide an unquestionable plan for the case company, the entire reasoning is a proposal on the basis of findings that can be adjusted in the future.
The theoretical framework explains the concepts of the marketing environment itself and strategic marketing planning. The section includes visualization related to the strategic process for the comprehensible picture. The information used in the research was ac- quired through academic literature sources, books, articles, magazines, case studies, reports, statistics, and online blogs.
The empirical framework is based on practical research regarding the macro-environment in South Korea and necessary data about Lumene company. The marketing environment is drawn by PEST-analysis, while essential information for a strategic marketing plan about the company is gathered from official web-sources and case studies. In addition, thesis includes an analysis of the beauty industry after the COVID-19 impact.
The last chapter summarizes theoretical and empirical knowledge and creates a research solution expressed by a strategic marketing plan. The research results do not provide an unquestionable plan for the case company, the entire reasoning is a proposal on the basis of findings that can be adjusted in the future.