mesa south korea

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LaSalle College *

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303

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Marketing

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Feb 20, 2024

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Market Entry Strategy Analysis This project requires you to research a nation as a future market for a new video game system, the M-Box. The M-Box competes against the video games of companies already in the market, such as Sony, Nintendo, and Microsoft. The M-Box can be played either at home or between players in an online, interactive format. Working as part of a team, you will research and analyze a market, then recommend a course of action to the producer of the M-Box, MES-Sim Corporation. This third phase of the project requires your team to develop a Market Entry Strategy Analysis (MESA) for the country in which the M-Box will be introduced. Your task is to apply critical thinking skills and creative abilities to formulate a fully-fledged market entry strategy. You are encouraged to access the BBC News Country Profile Website or additional online resources of your choosing. This report was prepared by: The target country for marketing the M-Box used in this report will be: 1 Market Entry Strategy Project Market Entry Strategy Analysis

Challenges Please gather the MIR and BEAR reports your team produced earlier. What do you see as the greatest challenges for marketing the M-Box in the target country within each of the following categories? Demographics The Geopolitical tensions with North Korea is one of the challenges that the international community, including countries such as the United States, China and South Korea, has expressed concerns about nuclear proliferation and the impact on regional security. Government Despite the Korea-US Free Trade Agreement (KORUS FTA), there are some internal challenges including single industry standards, opaque regulations, resistance to foreign business models, and competition and pricing pressures from domestic manufacturers. When marketing within South Korea, we have to link or form alliances with companies already recognized in the country, for example: Hyundai and Samsung. Physical Infrastructure The personal computer market is expected to increase by 1.6 per cent to US$40.4 billion, but console games will decline 2.2 per cent to US$52.9 billion. Economics South Korea does not want children under 16 to play video games at night. For this reason, it has approved a law that makes it illegal to use consoles between midnight and six in the morning,that is why when we want to introduce our product, the marketing we use will have to be regulated to that rule in South Korea. Communications Infrastructure It is considered a challenge in the connection infrastructure, which since 2016 the Korean telecommunications regulator has imposed “network usage fees.” These new rates would change the entire Internet business model and were designed to favor the three big telecommunications companies that most Koreans depend on. Although this change is currently being applied selectively (for example, only among Internet Service Providers (ISPs) for now), it is already having an impact on the future of data and Internet usage in Korea: it increases the cost of broadband and causes some companies, such as Facebook and Netflix, to suspend or downgrade the services they provide to Korean customers. 2 Market Entry Strategy Project Market Entry Strategy Analysis

Target Market Please define the market for the M-Box in your target country. Drawing on information contained in the MIR and BEAR reports, what is your best estimate (in numbers of households) as to the total potential market for video games in the target country? Who do you think will be your main competitors, and what products do they sell? Explain your answers. Our target market is the population between 10 and 19, since 92% of the participants belonging to that demographic group were video game users in South Korea. Main competitor: The Nintendo Switch it is the most used video game in South Korea with a percentage of 37% of the population playing, and the X-Box has a percentage of 14.3% of the population in use, although the Xbox is the most powerful console on the market, featuring a more powerful processor and more storage space than either the PS5 or the Switch. Some consumers comment that the Nintendo Switch is more handheld (much more practical and convenient) and one of the characteristics that is repeated among players is that the Nintendo Switch It has exclusive games, and a high variety of them. The current price of the Nintendo Switch in South Korea is KRW360000, including taxes when converted into Canadian dollars it is equivalent to 405.58 CAD, and the price of the X-Box Series S in South korea KRW508780.01 which in Canadian dollars is 512.02CAD. For this we must differentiate that the X-Box is a console game and the price varies depending on the color or generation. 3 Market Entry Strategy Project Market Entry Strategy Analysis

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Projected Sales Please project total sales for the M-Box in your target country over each of the coming three years incorporate these estimated retail price points in your projections:  Base systems: $100  Accessories: o Extra Controllers: $30 o Online Access Kit: $50 o DVD Player Kit: $40 o Monthly rate for online multiplayer capability: $10/mo. NOTE: Give projections in both U.S. dollars and the local currency based on current exchange rates (many free web-based currency converters are available, such as the XE Currency Converter ). 4 Market Entry Strategy Project Market Entry Strategy Analysis

Operations Please discuss the operational concerns surrounding the introduction of the M-Box in the target country. Identify and examine the practical issues, advantages, and disadvantages that may be associated with each of the following activities:  Engaging in local sales efforts  Undertaking local manufacturing operations  Management by personnel from home or host nation Conduct each of the following activities as part of your analysis:  Visit an online travel agency (such as Expedia or Travelocity) and calculate the cost of a typical, three-night business trip to the capital city of your target country. o At a minimum, consider a round-trip airfare in coach class, a three-night hotel stay, a four-day rental car (if available), token gifts for local contacts, and entertainment expenses.  Access a shipping Website (such as UPS or FedEx) and calculate the cost of sending a four-foot-square crate of M-Boxes weighing 100 pounds to the capital city of the target country. Price every available option, from the slowest to the quickest means of shipment. 5 Market Entry Strategy Project Market Entry Strategy Analysis

Please consider the following list of entry modes for introducing the M-Box in your target country. For each viable option, identify its advantages and disadvantages. Recommend the most appropriate entry mode for the M-Box in the target country at this time.  Exporting  Countertrade  Turnkey project  Management contract  Licensing  Franchising  Contract manufacturing  Joint venture Explain the reasons for your recommendation. 6 Market Entry Strategy Project Market Entry Strategy Analysis

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Marketing Campaign Please outline a marketing campaign for launching the M-Box in your target country. Estimate an appropriate marketing budget and sketch an advertising campaign aimed at the target market you defined earlier. Also, what media does your team recommend for marketing the M-Box, and why? 7 Market Entry Strategy Project Market Entry Strategy Analysis

Final Analysis In your final analysis, do you recommend that MES-Sim Corporation market the M-Box in your target country at this time? Please be unequivocal in your answer. 8 Market Entry Strategy Project Market Entry Strategy Analysis

References: Please list the references consulted by your group in preparing this MESA Report. Please give all references in proper APA (American Psychological Association) format . 9 Market Entry Strategy Project Market Entry Strategy Analysis

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