3.Marketing strategy analysis of ‘Star’
4.What the issues are : Failure in Marketing Mix
1. Company Overview : Kuksoondang and Baek Sae Joo
Currently, the Korean liquor market, composed of Soju, beer, whisky and so on, is lead mostly by companies that have secured the distribution line, such as Jinro and Doosan.. Kuksoondang, which is one of the main companies in the liquor market, renamed its company as Kuksoondang, trying to change its image as the Fermented liquors to the traditional liquor producing company. For this, Kuksoondang introduced Baek Sae Joo, a kind of high quality medicinal wine with traditional Korean medicine in it, to the medicinal wine market for the first time, and it also introduced Biotack, a sort of canned rice wine, leading changes in the domestic medicinal wine market.
With such progression, starting with 2billion sales in 1994, the sales has increased over 100% every year, Kuksoondang achieved 91,4billion sales in 2000, and 110billion in 2004, accomplishing 5500% growth within 10 years. (Appendix 1) Also, since a lot of products benchmarking Baek Sae Joo are being launched, it quite obvious that Kuksoondang is the leading company of the domestic medicinal wine market. (Appendix 2).
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