Assignment Papers-Formulating Strategy
Formulating Strategy
Students are required to answer the three questions in essay format (maximum 450 words in total). Please print number of words at the end.
3. As the Korean population is increasingly able to afford high priced items like cars, this market represents a desirable growth opportunity for Japanese, German, and American car makers. However, the Korean automobile market is dominated by Korean car manufacturers (Hyundai, Ssanyong, and Daewoo). Oftentimes, such domination by a domestic manufacturer is blamed on trade barriers, but Korea’s tariffs are among the lowest in the world. Why then do most Koreans drive Korean-made cars? What entry strategy would be most appropriate for accessing this culturally-closed market?
