Analysis of a market entry plan for Dyson Limited and its Airblade hand dryer in South Korea
- Situation Analysis
- Marketing strategy
- Marketing mix
- Tactical Plan & Action Plan
Dyson is an ambitious and innovative company which makes good profits. The company is already present in many countries as well as in Asia (Japan) and has a good experience of the international market. After a strong analysis of PESTEL environment, task environment and organization's resources and capabilities, we have chosen to expand the Dyson's Hair Dryer in South Korea. Indeed, country like South Korea has an extrovert economic system which is favorable to international trade.
Moreover, South Korea has a high GDP per person. The country is ranked number seven on the top list of Asia's GDP per person with Singapore ranked one and Japan is ranked number five. The South Korean taxes could be the lowest in Asia because the customs duties are practically absent as in Japan. Country like South Korea is a well-developed country and is also ready for innovative and electronic products.
[...] This is consistent with the Dyson's hand dryer, because of its three basic characteristic: speed, costs less to run and the Most Hygienic Hand Dryer. If we want to successfully enter the South Korean market, a plan of where we are going is essential. I will use the SOSTAC analysis as a marketing plan to present the Situation analysis, Where are we now?; the Objectives, Where do we want to get the Strategy, How are we going to get there?; Tactics, How are we going to get there?; Actions, Who is going to do what and when?; Control, How can we control, measure and develop the process? [...]
[...] South Korea has a high GDP per habitant, many companies, as well as an educated market in high technologies which will allow Dyson to attain its goals. Timed After six months, Dyson should have done lot of emailing, prospection and trade fairs in order to be known in the market. If good sales (around Hand Dryer), Dyson will implant its showroom in Seoul city centre. Marketing strategy: Segmentation, Targeting, Positioning: The Dyson Airblade hand dryer regards the Household electrical appliances market segment. [...]