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A Finnish Brand in the South Korean Market : Case analysis of Finnair in Korea

Toivanen, Jani (2015)

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Toivanen, Jani
Oulun ammattikorkeakoulu
2015
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2015111116216
Tiivistelmä
Until recent years, South Korea has been a fairly unknown and overlooked market for many international enterprises. In recent years, however, the number of foreign companies entering the Korean market has grown exponentially, opening a healthy and growing market for potential international trade opportunities. Finnish companies are no exception, and one of the leading Finnish companies operating in Korea is the national Finnish airline, Finnair.

The main objectives of this thesis are to analyse the Korean business environment and Finnair’s operations in the market. The information the study seeks to discover includes Finnair’s business strategy in Korea, the awareness of the brand among Korean consumers, main strengths and weaknesses, potential threats and growth prospects.

The empirical research is implemented through a mass-survey targeted towards Korean consumers to evaluate the awareness of Finnair in Korea, gathering 208 respondents from several different demographic groups. Qualitative research methods include several interviews of experts from different fields. SWOT-analysis is used to evaluate the state of Finnair’s position in the market.

The results of the research show that Finnair offers competitive and advantageous services, and possesses a strong market position with potential for growth. However, Finnair suffers from the lack of brand awareness and a shy marketing strategy, which does not highlight the main strengths of the company. The research results suggest that the consumers have a mostly positive attitude and willingness to try Finnair, but achieving this requires the consumers to be better informed of the advantages Finnair is offering.

Further study could be conducted to analyse and improve Finnair’s marketing strategy in order to better highlight their advantages. The slowly growing tourism between Finland and Korea and how to boost it is another subject that offers potential for Finnair, as well as the Finnish companies in general.
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