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http://dx.doi.org/10.5392/JKCA.2015.15.05.119

A Catch-up Strategy of the K-Pop Firms in the Latecomer Environment  

Choi, Hyundo (조선대학교 경영학부)
Publication Information
Abstract
The rise of K-Pop in the latecomer environment is unusual. There is little research on K-Pop from the catch-up perspective though it would yield some insight into a strategic direction of creative industries in the latecomer environment. Thus, this study aims to compare the firm capability, market development, and product strategy of K-Pop firms with ones of manufacturing firms during the catch-up period. It reveals first that K-Pop firms developed project execution capability to carry out discrete projects effectively by adopting in-house (vertical) system in music production and increasing the size of firms. Second, they pursued global market and utilized the window of opportunities based on a proven music genre. Third, K-Pop firms pursued the incremental innovation in the product development. Since these characteristics have many similarities with the catch-up strategy in the manufacturing sector, Korean catch-up experience could provide valuable insight into the development of creative industries in Korea.
Keywords
K-Pop; In-house System; Window of Opportunity; Incremental Innovation; Catch-up Strategy;
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