• Asia Marketing Journal
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• v.8 no.3
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• pp.101-121
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• 2006

This case study explores various marketing strategies of Grundfos Pumps Korea Inc. that has become a front-runner in the industrial pump market of Korea as the enterprise that got into the business later. Grundfos Group, a multinational company with its head office in Denmark, has acknowledged diversity of each country and has granted its subsidiary companies with discretionary power so that they can establish marketing strategies suitable for the market they were competing in. Grundfos Pumps Korea has been very successful in its localization and differentiation of marketing strategies. First, Grundfos Pumps Korea achieved the trust of their customers by its high quality and consistent pricing strategies and has expanded its market very successfully with continuous product innovation and new product ideas. Second, it increased its brand awareness and recognition by brand differentiation along with the product differentiation strategy, which is exceptional in industrial market. It has conducted creative marketing activities and strategies to build brand equity and successful customer relationship management.

• International Area Studies Review
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• v.14 no.2
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• pp.229-248
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• 2010

This study is intended to empirically investigate determinants of the degree of standardization vs. adaptation in global marketing programs for Korea firms. Our study has two main focuses. First, our study takes a global perspective instead of a binational, i. e., home vs. foreign perspective. Second, we accommodated two conflicting veiws - contingency and resource-based views in explaining determinants of global marketing strategy. As such determinants, we considered global market dynamism and complexity from a contingency view and global marketing assets from a resource-based view. Surveys were conducted with 128 Korean firms engaged in global marketing. Our study found that Korean firms with global assets tend to engage in highly standardized global marketing programs. On the other hand, global market dynamism and complexity did not show statistically significant relationships with the degree of standardization vs. adaptation. The findings suggest that a resource-based view may be more powerful than a contingency view in explaining global marketing strategies of Korean firms.

• International Commerce and Information Review
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• v.16 no.4
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• pp.409-437
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• 2014

The purpose of this study is to present the specific ways of successful localization by analyzing the success and failures case for localization within the framework of the strategic models through a theoretical background and strategic models of localization. The strategic models of localization are divided by management aspects such as the localization of product and sourcing, the localization of human resources, the localization of marketing, the localization of R&D, harmony with a local community and delegation of authority between headquarters and local subsidiaries. The results, by comparing and analyzing the success and failures case for localization of individual companies operating in India, indicate that in terms of localization of product and sourcing, there are successful companies which procure a components locally and produce a suitable model which local consumers prefer and the failed companies which can not meet local consumers' needs. In case of localization of human resources, most companies recognize the importance of this portion and make use of superior human resource aggressively through a related education. In case of localization of marketing, It is found that the successful companies perform pre-market research & management and build a effective marketing skills & after service network and select local business partner which has a technical skills and carry out a business activities, customer support, complaint handling with their own organization. In terms of localization of R&D, the successful major companies establish and operate R&D center to promote a suitable model for local customers. In part of harmony with a local community, it shows that companies which made a successful localization understand the cultural environment and contribute to the community through CSR. In aspect of delegation of authority between headquarters and local subsidiaries, it is found that most of Korean companies are very weak for this part. there is a tendency to be determined by the head office rather than local subsidiaries. Implication of this thesis is that Korean enterprises in India should carry forward localization of products and components, foster of local human resource who recognize management and system of company and take part in voluntary market strategy decision, wholly owned subsidiary, establishment and operation of R & D center, understanding of local culture and system, corporate social responsibility, autonomy in management.

• Asia Marketing Journal
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• v.13 no.4
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• pp.253-264
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• 2012

A growing number of Korean companies are trying to expand their business area into global market due to saturation in the Korean domestic market. Home shopping industry arriving on mature stage is faced with less growth recently. CJ O Shopping which is a top ranked home shopping company in Korea, has been showing meaningful performances by earlier moving to global market with thorough preparations. CJ O Shopping's global marketing strategy focused on asian countries including China, India, Vietnam, and Japan is going successfully, which enables top ranked on-line retailing company in asia as well as in Korea. CJ O Shopping effectively penetrated into overseas market with both core competence based on Korean home shopping model and rigorous preliminary study on target market. Especially shoppertainment (Shopping+Entertainment) that is unique feature of globally competitive Korean home shopping created huge differentiations in target market. Also choosing the influential local partner, sharing the business goals, and building the joint venture could make stable operations, thereby easily earning of well-established awareness from target consumers. A step ahead entry of competitors and intensive localization of CJ O Shopping's core competence for arriving safe in target market were additional key factors for global marketing success. We can extract above key factors for success as implications of case study on CJ O Shopping's global marketing, and expect those factors to be spread into lots of Korean companies and utilized as successful strategies for global marketing.

• International Commerce and Information Review
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• v.15 no.4
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• pp.481-508
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• 2013

The purpose of this study is to research the specific ways of successful localization by analyzing the success and failures case for localization through the theoretical background and the strategic models of localization. The strategic models of localization are divided by management aspects such as the localization of production and sourcing, the localization of human resources, the localization of marketing, the localization of R&D, harmonious relationship with the local community and authority transfer between headquarters and local subsidiaries. And the specific measures of the successful localization are proposed within the framework of the strategic models by comparing and analyzing the success and failures case for localization of individual companies operating in Indonesia. The results indicate that there are successful companies which develop a suitable products for the local climate and failed automobile company which is weak for assembly of complete vehicle in terms of localization of production and sourcing. In case of localization of human resources, most companies recognize the importance of this part and endeavor to secure superior human resource through a related education. It is found that most of the companies perform R & D in their native country. In part of a harmonious relationship with the local community, Korean companies should contribute to the community and be friendly with local residents and make a good image of the company focusing on the cultural environment. In aspect of authority transfer between headquarters and local subsidiaries, there is a tendency to be determined by the head office rather than the joint participation. In the future, in order for Korean enterprise to be successful one in Indonesia market, a highly interdependent and complex forms between headquarters and local subsidiaries shall be performed and an active exchange of information and the selection of best talent regardless of nationality shall be promoted.

• International Commerce and Information Review
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• v.19 no.1
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• pp.99-126
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• 2017

The Indonesian e-commerce market has grown significantly due to sustained economic growth, middle class growth, rapid increase in Internet and SNS users, and increase in accessibility of mobile broadband services. In particular, consumers' online shopping through mobile and SNS has been increasing rapidly based on the expansion of the popularity of smart phone devices. This research suggested the strategies for expanding exports of Indonesia through e-commerce platform to the Korean firms, with deep analysis of the current status and features, problems, cases, and implications etc. of Indonesia's e-commerce market. As an export expansion strategy utilizing Indonesia's e-commerce platform, this study showed the Korean firms have to build a local online distribution network, establish a logistics & delivery and payment system, acquire Halal certification for Muslim market, carry out the in-depth market research, actively implement Hanryu marketing strategy, develop a creative product, set up market segmentation strategies, and develop SNS mobile marketing.

• Journal of the Korean Home Economics Association
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• v.44 no.10
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• pp.9-20
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• 2006

Due the globalization trends of industry environment, not only fashion companies of the developed countries but also those of NICs and the developing countries are pursuing to globalize their businesses. This study was conducted (i) to identify the characteristics of international marketing mix of Korean fashion companies operating in oversea fashion markets and (ii) to analyze the performance of Korean fashion companies related to international marketing mix. The data were collected from inter-Korean fashion enterprises. A questionnaire was distributed to a person in charge of international division/international trade division who doing business in domestic market and a person in charge of a local subsidiary in oversea market. The methods of analysis used in this study were factor analysis, cluster analysis, and one-way ANOVA. The results of this study are as follows: First, according to factor analysis and cluser analysis, Korean fashion companies were classified in four (4) clusters. The fashion companies in Cluster I put their priority on price. The companies in Cluster II are traditional fashion companies which have relatively low power of product and price. The companies in Cluster III put their priority on product, and the companies in Cluster IV put their priority on local market. Second, according to ANOVA, a growth rate of sales make significant difference among 4 clusters and Clusters II and III were comparatively high in performance.

• The Korean Journal of Franchise Management
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• v.13 no.2
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• pp.1-15
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• 2022

Purpose: The globalization of the Korean restaurant franchise industry differs from the business performance of enhancing the brand image and customers' intention to revisit depending on the degree of localization marketing. Therefore, it is necessary to consider the extent to which the localization marketing activities of overseas Korean restaurant franchise companies affect the customer's perception. This study aims to investigate the effects of localization marketing (Localized Menu, Localized Price, Localized Service Experience, Localized Promotion, Localized Physical Environment) of Korean restaurant franchise companies on customer revisit intention. Research design, data, and methodology: For this study, 150 questionnaires using local Korean restaurants in Beijing, China, were analyzed using SPSS Ver.21 and AMOS Ver.22. Result: It was confirmed that the localized menu, localized service experience, and localized physical environment all affect the intention to revisit customers. Based on these verification results, if overseas franchises fully recognize localization marketing, which is an important factor for local business success, and establish localization strategies, they can gain an edge in competition with local Korean restaurants or restaurant franchises founded by locals. There may be a higher probability that However, it was found that localization price and localization promotion had no mediating effect of brand image between revisit intention and revisit intention. It was found that it had no effect on the degree of inquiry and had a negative effect. Conclusions: Due to the impact of the COVID-19 pandemic, there have been many changes in the domestic and overseas food service industry over the past two years. Therefore, in future research, it is necessary to study the localization of overseas Korean restaurant franchise companies that are more multidimensionally subdivided. Various measures of customized localization marketing for optimal regional characteristics should be developed and applied to enhance customer revisiting and brand image of Korean restaurant franchise companies entering overseas. In the future, this study will be meaningful data for the establishment of localization marketing (Localized Menu, Localized Price, Localized Service Experience, Localized Promotion, Localized Physical Environment) strategies for Korean restaurant franchise companies that consider overseas expansion or have already entered.

• Journal of the Korean Society of Clothing and Textiles
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• v.31 no.8
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• pp.1180-1189
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• 2007

The purpose of this study is to search the level of localization strategy of imported brands in Korean Market, to investigate relationship between the brand characteristics and localization strategy, and to study the case about localization strategy of the brand selected according to the type of brand. The survey research was employed and for the data analysis, descriptive statistics, one-way ANOVA, and multiple-regression were used. For the case study, interview with the person who works in the each kind of company was used. The results of this study were as follows: Firstly, the level of localization strategy is found in order price, place, promotion and product. Secondly among the brand characteristics, type of brand, proportion of garments, price zone, launching time, number of shop are related with localization strategy, but turnover and number of the staff are not. Thirdly, license brand has the characteristics like as national brands and the differences between the branch and the agent is confidence and communication that are the basic elements of localization. This study can help national brands to refer the localization strategy and provide the understanding of localization strategy of imported brands in Korean fashion market.

• Proceedings of the Korea Information Processing Society Conference
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• 2019.10a
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• pp.633-636
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• 2019

최근 글로벌화를 지향하는 국내 스타트업 중에 사업기획 단계에서부터, 법인설립, 현지마케팅 등을 해외에서 시작하는 해외창업 스타트업이 늘고 있다. 또한 4차 산업혁명의 진전에 따라 각종 IoT·센서 등에서 발생하는 대량의 데이터가 데이터 기반 산업·경제활성화를 견인하는 원동력으로 작용할 전망이다. 해외창업은 언어 장벽, 이질적 문화와 제도 등으로 성공하기 어려움에도 불구하고, 성공사례들이 종종 파악되고 있다. 따라서, 이런 사례가 파악되고 있는 미국, 인도, 일본, 싱가포르 등 4개국에서의 해외창업 성공사례들을 질적 분석을 통해 성공요인을 도출하고 해외창업 활성화 전략을 제시하였다.