Enterprise should choose export target country through adequate market research

It's hard to see the number. This year, I have seen more than 1000 business operators and executives, and the most common sentence I hear is "too sluggish". But next year is said to be worse, so many people don't know where to start. I said to them, "only export is the breakthrough.". It's not easy to survive on the domestic demand market of only 50 million people and competitive domestic competitors. According to the book "built to last" published by Jim Collins / Jerry I. Porras in 1994, enterprises must be established, survive and carry out sustainable activities. This time, Korean enterprises, especially k-beauty enterprises, want to convey the message of survival in the market. Kim Yuzhong, the former chairman of Daewoo Group, the second largest financial group in South Korea, died recently. As one of the entrepreneurs and traders, I also support and respect the philosophy of "world operation" and "the world is vast, there are many things to do" of the late president Jin Yuzhong. We need to change our thinking. If we can't develop the overseas market, it's difficult to achieve a leap or maintain the current sales volume only by relying on the domestic demand market. Enterprises should be vigilant. Once they are satisfied with the status quo, they will soon be unable to recover. Now, regardless of domestic demand and overseas, the world is the stage for our Korean enterprises, and we should strive to open the overseas market.

There are three key points to open up overseas market. First, it is market-oriented, second, it is commodity oriented, and third, it is economic efficiency. This time we need to talk about market-oriented. When choosing the exporting country,   must first conduct sufficient statistical analysis and pre investigation on the local market. Whether the income level can buy Korean products, whether it has the market scale to buy products, how about the proportion of age, whether it has a positive understanding of Korean products, etc. we should find the gap market through analysis and select the target market. The world market that is attractive to Korean enterprises can be roughly divided into three regions. Although all markets are important, considering the actual level of trade with South Korea, there are mainly China, Asia, North America, Europe and other regions. In 2019, China and Asian countries accounted for 60% of South Korea's trade volume. Only from the statistical data point of view, China and Asia are the best markets that Korean enterprises can never give up or avoid. In Asia, there are 10 countries with more population than South Korea, including China, which has the largest population. In addition, most of the countries with high economic growth rate are concentrated in Asia, and many Asians are interested in k-beauty, food, pop music, culture, etc. The first problem facing China and Asian market is price.

If scale economy can not be realized, it is difficult to reduce price. But because the characteristics of the Asian market are most price sensitive, it is urgent to make great efforts and ensure competitiveness in order to achieve final results. Even if we are short of funds due to sensitive price problems, we cannot give up the first market in Asia. It is hoped that enterprises must open up the Asian market and prepare for the future growth momentum by ensuring customers, marketing and building networks. North America and Europe are traditional developed countries. Compared with price, consumers pay more attention to giving more value to product brand, function and design. In order to develop better products and create better added value, k-beauty enterprises must challenge the corresponding high-end market and invest time and energy. Recently, because of the popularity of K-pop, young consumers in North America and Europe began to understand South Korea, and their attention to beauty products in South Korea increased dramatically, ushering in a good opportunity. If we can actively take advantage of such opportunities to diversify the customer portfolio, it will be of great help to the stability of the enterprise. Now is the rising period of premium for Korean products. K-beauty enterprises should forecast the market in five or ten years, and ensure that buyers are safe in advance.