1. About ReignCom
2. Market Analysis
3. iRiver in Overseas
4. Matrix Analysis
5. Problem & Prospect
1. About ReignCom
Company Name: Reigncom.Ltd
CEO: Deok Joon, Yang / Hyuk Kyun, Kim
Number of Employees: 412 employees
Capital: 6.7 billion won
Founded: January, 20th 1999
Registered: KOSDAQ on December, 18th 2003
Locations: Korea, Hong Kong, Europe, Japan, China, America
Products: 7 kinds
ReignCom established iriver Co., Ltd. as a 100% owned subsidiary that will focus on building iriver as a world-famous brand. Due to the dizzying pace of the digital revolution and the cut-throat competition in the industry, it is difficult for existing brands to maintain absolute market leadership. Customers in the digital era give high premium to individuality and to a wide variety of preferences. Individualized marketing is therefore preferred over mass marketing when it comes to digital products. The success of a digital company therefore depends on the strength of its brand but on the uniqueness of its products. In particular, the feedback of users of a particular brand is more powerful than its mass advertising and product information campaigns. Through the Internet, in particular, users today can quickly share a wide range of product information without any limits and boundaries. For this reason, iriver introduced the concept of “Firmware Upgrade,” an interactive communication program through which the company can find out user preferences information that is invaluable in designing even more user-friendly products. This approach, instead of mass marketing, is now generally accepted as the market standard. In sum, while iriver aims to be a world-class brand, it strives to be not necessarily the strongest one, but the brand most loved by its users. ReignCom came up with the world’s first Multi-CODEC CD Player in December 2000. With the product, ReignCom took the top position in the U.S. market in the short span of six months. Since then, ReignCom has also taken the top position in domestic market. Today, ReignCom has known as a global leader in the MP3 player market with the world-famous iriver brand.
Gartner Dataquest Data
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