Why It Fails? Marketing Strategy Analysis On The Brand “X” Instant Noodle Sales Performance In South Korea Market

  • Karina Jovita School of Business and Management, Institut Teknologi Bandung
  • Anggara Wisesa School of Business and Management Institut Teknologi Bandung
  • Mohammad Hamsal Management Department, BINUS Business School, Doctor of Research in Management, Bina Nusantara University, Jakarta, Indonesia

Abstract

This study aims to examine the reason why the sales performance of Brand “X” Instant Noodles from Indonesia is not successful yet to expand its market in South Korea. This study used sequential mixed-method approach comprising two steps: first is to analysing the external and internal factors using a qualitative approach. Secondly, the researcher also observed the behaviour of the customers that fit into the targeted segment, who are likely to be influenced by price, flavour variety, convenience, and brand loyalty. The results lead to indication of unprofitable business of instant noodles because of high intensity of rivalry and substitutes, and also unfavourable bargaining power of buyers and how it is easy for the competitors to entering the market. Furthermore, the company of Brand “X” Instant Noodle is still a conservative manufacturing-oriented company, taking a risk such as doing aggressive marketing to introduce its brand to a new market is still difficult. Additionally, competitor analysis shows that there are many contenders and stiff competition in the market. There are some limitations for this research, to make it more focused. First, The research only focused on Brand “X” Instant Noodle sales in South Korea. This research was conducted in South Korea since the analysis is focusing on the analysis of marketing strategy on the Brand “X” Instant Noodle Sales Performance in South Korea market. In this paper, the focus is on analysing the reasons why the Brand "X" Instant Noodle has not been able to achieve its sales targets compared to other foreign markets, particularly within the instant noodle industry. Rather than exploring the various factors that influence sales performance in general, the study specifically looks at the factors that are hindering the success of Brand "X" in the market. Overall, the goal of this paper is to provide valuable insights that can help Brand "X" Instant Noodle to understand its situation better

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Published
2023-06-30
How to Cite
JOVITA, Karina; WISESA, Anggara; HAMSAL, Mohammad. Why It Fails? Marketing Strategy Analysis On The Brand “X” Instant Noodle Sales Performance In South Korea Market. International Journal of Business and Technology Management, [S.l.], v. 5, n. 2, p. 263-277, june 2023. ISSN 2682-7646. Available at: <https://myjms.mohe.gov.my/index.php/ijbtm/article/view/22359>. Date accessed: 21 may 2024.
Section
Articles