6 pages/≈1650 words
Business & Marketing
Canada Goose Case Study (Case Study Sample)
this case study worth 40% of the entire course grade. I hope the writer could read the case carefully. I'll upload the case itself and also a file with instruction source..
CASE STUDY: CANADA GOOSE: THE SOUTH KOREAN OPPORTUNITY
TOC \o "1-3" \h \z \u HYPERLINK \l "_Toc320042330" Answer to question 1 PAGEREF _Toc320042330 \h 3
HYPERLINK \l "_Toc320042331" Answer to question 2 PAGEREF _Toc320042331 \h 4
HYPERLINK \l "_Toc320042332" Answer to question 3 PAGEREF _Toc320042332 \h 6
HYPERLINK \l "_Toc320042333" Answer to question 4 PAGEREF _Toc320042333 \h 9
HYPERLINK \l "_Toc320042334" Answer to question 5 PAGEREF _Toc320042334 \h 12
HYPERLINK \l "_Toc320042335" Answer to question 6 PAGEREF _Toc320042335 \h 13
HYPERLINK \l "_Toc320042336" References PAGEREF _Toc320042336 \h 15
Answer to question 1
Six important factors about South Korean culture
South Korean culture, including its business traditions, has greatly been influenced by China (Fairbank, Reischauer and Craig, 1978). Historically, the South Korea adopted Confucianism more strictly than China itself (Buswell, 1992). Because of this reason, South Korean people are generally very polite and do not ask personal questions regarding age, religion, education, salary or family life. In South Korean business tradition, the most important thing is the status and it is significantly important to estimate relative status or age of counterparts. Chocolate, as a gift, is well appreciated in South Korea. Facial expressions and hand moves during a conversation should be controlled and must not offend the other party. Also, it is unwelcome to be too much vigorous.
Four important factors about ethics in South Korea
The main ethics in South Korean business market is modesty. By nature, South Korean people are very humble and expect the same from others. In business, this is even more important. During a business conversation, it is not welcome to say a compliment unless it is something positive. Also, it is very important to express negative information in a positive way. Sounding negative is often considered as a rude attitude. In case of a request for a favor, it is not right to decline the request; and if it has to be rejected, the tone must be very apologetic.
Answer to question 2
Five advantages to enter South Korean market
About eighty eight percent of total population of the country lives in urban areas for the lack of land. The rate of urbanization has been increased in recent years (Hoo-nam, 2009), making it a perfect market with a very wide number of customers. So for reaching to any level of customers, Canada Goose Inc. will not have to make a nationwide marketing campaign.
South Korea is one of the fastest growing economies in the world with increasing income rate for its people. With current market status, it is shows a great potential for luxury and brand products. So this can be a great opportunity for Canada Goose Inc
In recent years, the South Korean culture is greatly influenced by western culture and their people are adopting social trends in many aspects in their life. This can be a big advantage for the Canada Goose Inc. to join the market.
For last decade, the South Korean government is encouraging foreign companies to invest in the country and reduced its regulations regarding direct investment. The credit risk in the country has been decreased by greater degree in recent years, making it an excellent choice for the Canada Goose Inc
The market of outwear for cold weather in South Korea is still open to any western company. There is almost no competition and that makes a perfect timing for the Canada Goose Inc
Disadvantages to enter South Korean market
Overall disadvantages or risks to introduce a new foreign investment in South Korea are very low. One of the major risks to be...
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