Australian Export Opportunities to South Korea

Australian Export Opportunities to southwestward Korea Hasting Helical Francesca Carolina skid Ash Jane Decorum Cindy Guan Sophia Alai Introduction Where once, the southeastern Korean society only when relied on the produce of their acres as a source of goods, they atomic number 18 slowly turning towards imports from other nations, such as Australia for their goods and services. Australia is renowned for their uncouth excellence, and hence has become a major merchandiseer of nutriments to South Korea. In this essay, discussions close to how South Korean elaboration may influence the nature and the sessions do in regards to intellectual nourishment consumption.Additionally, the theories of family and cordial influence of Australia and South Korea will be applied, with an aim to reveal possible opportunities for the South Korean food industriousness to further improve its standings in South Korea. Family Family is one of the close main(prenominal) aspects in life for So uth Koreans. The Korean community is well-known for their biggish and tight knit families, with an average of 2. 97 persons per ho utilisehold, in affinity to an formation for Economic Co- operation and Development (COED) average of 2. 63 in 2009 (COED, 2010). This is more or less due to the spirited level of multinationals families in Korea.Many Koreans regard the well- cosmos of the family, as a whole, more important than t palpebra of individual members (ANTA, 2013). Food is also a predominant feature in the Korean culture they often conform to around for extravagant feasts with family and friends, especially on occasions such as fresh Years and Christmas. Therefore providing food to the family of the best quality is a high priority lack. Traditionally, men of the South Korean society argon the breadwinners of the family, duration women tend to stay at home and take portion out of family matters. The female employment rate in Korea, at 52. %, in 2009 was at a lower plac e the COED average of 59. 6% (COED, 2010), therefore reflecting the homemaker purpose that women play in the family. In the eyes of the developed countries club (COED), South Korea is considered a arbitration, and despite the public policies that still uphold the patriarchal family system, the sex ratio (number of boys per coke girls) has been remarkably decreasing in the last two decades. It seems that the drop in son preference was triggered by normative changes in the society, in comparison to individuals whose socioeconomic resistances had changed (Chunk & Guppy, 2007).Therefore, a potential target market for women arises. At this rate, there is a strong possibility that more women in the South Korean society. Gender takes the centre stage of numerous dishonor narratives. Researchers conducted in Australia and New Zealand show that the female partner/wife is generally involved in the decision making process (C offman et al, 2010). Keeping young singles/ get married couples in perspective, marketers who using upd to target men atomic number 18 now targeting women by means of meaner of educating them about the importance of eating healthy, ND family well-being.For example, introduction of diet Pepsi or diet coke, was made to attract men towards diet soda, so that they could varan their calorie intake. But this claimed to be un winning. To the contrary, when women were targeted towards consuming lower calorie drinks standardised Dry. Pepper Ten, Pepsi Max, Coke Zero, etc. , it was observed that women were the major consumers, and they religiously jilted the notion that diet cola was for men and that its not for women. (Avery, 2012) Social run Social influence selling is composed of a combination of the use of social media ND the day-to-day interactions consumers go by means of which may stupor purchase decisions made by buyers (Murray, 1991). Social media plays a full-grown role in influencing consumers, as content created by everyday people is readily available online through blobs, forums, websites, social networks and flogs. Egg Product reviews on Youth. Consumers kindle also be influenced by their everyday experiences and interactions with different people through word-of-mouth communication, viral marketing and buzz agents. pipeline communication is the result of consumers sharing information and personal experiences of products purchased tit friends, family, colleagues etc. This is one of the more sound ways of marketing as potential buyers be more credibly to trust a close acquaintance over an advertisement (Longer, Henning Weidman, 2013). Word-of-mouth communication has dramatically increased over sentence in Australia with the use of social networking sites such as Faceable and Twitter.However, Faceable is not the social media site that is most(prenominal) popular among South Koreans as it has only 3. 6 billion users. The most popular social networking site in South Korea is Keyword, which has 19 milli on unique visitors every month and generates 1. Billion views. Viral marketing is a combination of word-of-mouth communication and social media. This form of marketing is referred to as Moral because once released, the information spreads like a virus to a swelled audience in a relatively small time frame.It provides an advantage for mass communication through social networks. As homogeneousness is the main focus in South Korean culture this would more often than not affect the social influence on consumers and potential buyers, as the need for homogeneity would encourage and friends. The general populations need for homogeneity paired with the mighty LOL of social networking will therefore result in viral marketing being a very effective meaner of socially influencing consumers in South Korea (Lee & Trim, 2008).However this method would probably not be as successful in Australia due to the general culture being one that favors individualism and singularity as opposed to the id ea of homogeneity, which is more widely accepted in South Korea. Buzz agents are consumers recruited by companies to aid in promoting their products. These agents bet on various products by encouraging other consumers to purchase certain products while out on shopping trips, by suggesting which products shop winner should birth that they do not already stock, and by taking certain products to large gatherings in order to promote them to a large audience (Coffman et al, 2010).This would be more effective in South Korea than Australia as the Korean culture embraces family and attachment, and South Koreans often host large gatherings for family and friends which can act as a platform for word-of-mouth communication as well as marketing via buzz agents. Export Opportunities Up to 70% of South Koreans food requirement relies purely on imported goods (Food Business, 2011). Due to a large focus on the wellbeing of Korean consumers, the organic food pains has seen a huge growth in South Korea (Mackinac, 2006).Consumers are arouse in purchasing organic Australian products as they are comprehend to be of high quality and safe for consumption, however should be clean priced in order to keep interest in Korean consumers. Haiku Australia successfully landed their biggest export deals to date for Australian-made organic retail goods to Korea, exportation a three hundred thousand dollar shipment of organic individual noodles ( drop by the wayside, 2009).Recent changes in the food sector has seen a rise in the ascend of consumer groups who take into consideration the image and quality of organic food when they are purchasing or planning meals (Food Business, 2011). The gradual development of the Bilateral Free trade Agreement alongside a large and yet growing demand for organic products is seeing that Australia has more opportunities to export food to the South Korean region, where government regulations are great barriers for Australian exporters (Mackinac, 2006).P roduced from high-quality wheat, Haiku Noodles Australia is an extremely successful exporter of noodles. Currently, they export a great amount of their goods o Korea with a contention from Sarah Woodward stating that the organization received accolades for securing Australias largest export order for organic retail products (organic individual noodles) to Korea (Wallboard 2009 24).Success came upon the company as they assured their Korean consumers that their noodles were produced Without the use of chemical pesticides, herbicides or insecticides, food additives or genetically modified ingredients, creating a light in the consumers mind of clean and safe food (Holstein 2012). Companies seeking the food perseverance in South Korea have great opportunities stressed, especially when taking a close look as dietary demands (Archives of Surgery 2004).This trend has seen luck arise in meat, dairy and processed product food sectors (Holstein 2012). Additionally, as South Korea has such a low self- sufficiency rate in regards to food production, of only 26%, it is fair to assume that a country with such self-sufficiency rates rely on other countries with a high self- sufficiency rate to supply to provide products for their country (Holstein 2012). Although are attractive opportunities that are in this market, there are also barriers hat make it challenging to penetrate the market in South Korea.Such barriers hold strict regulation that South Korea has concerning organic certification (Mackinac 2006), although this is seeking to be maintained with the Gaillardia Governments efforts of negotiation with an aim to equalize the prospect of Australian companies exporting to Korea in order to be at the same standard and constitution as its greatest competitors, the United State and Europe by ontogeny the Korea- Australia Free Trade Agreement in 2011 (Department of Foreign Affairs and Trade 2011).Networks with Korea will consequently be developed, maintained and threate ned (201 1), including the reanalysis of correct regulations concerning export tariffs (ITS Global et al. 2008) South Korean life revolves mainly around family, being an important aspect of ones life. It is a cultural aspect of a Korean family to have the father to be perceived as the breadwinner for the family. It is essential that Australian companies wishing to export deliver products that are not only of high quality, but satisfy the family as a whole rather than dependable the individual consumer.Marketers also need to keep in mind the collectivized culture of South Korean families and consider it as a social unit. (Choc amp Yon, 2001). A company can create the perception off family meal whilst looking at marketing strategies and campaigns. Social influence plays a profound role on the purchase decision made by consumers. In order for an Australian company to open this theory into their exporting endeavourers could apply in their marketing technique by changing the image of their product.As the perception of organic food changes and becomes more desirable, people tend to agree with the opinions and rely of people around them. Creating a likeable brand allows for consumers loyal to your brand influence potential consumers around them. Conclusion Being a state-controlled and family-oriented society, there is huge potential in the South Korean food industry for Australian exporters. South Koreans are increasingly becoming certified of the benefits of healthy eating, and providing that to their families and friends.