75

Assignment Coversheet
Family Name/
Surname:

Chin, Soo, Teoh

First
Chai Yen, Yen Ling, Seok Kean
Names:

Student Number: 0050092007, 0050092066, 0050092012

Name: CHIN CHAI YEN, SOO YEN LING, TEOH SEOK KEAN
Postal Address: SEGI COLLEGE, PENANG.
City/Suburb: GEORGETOWN
State: PENANG

Post Code: 10050

Country: MALAYSIA

Faculty of Business
University of Southern Queensland

Course Number: MKT8002

Course Name: INTL MARKETING & MGMT

Assignment Description/Number: ASSIGNMENT 1

Faculty: FACULTY OF BUSINESS
Date Uploaded: 24th April 2009

Assignment Due Date: 24th April 2009

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Name: Chin Chai Yen, Soo Yen Ling, Teoh Seok Kean

Date: 24th April 2009

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Success Marketing
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10050 Georgetown
PENANG

(Office Use Only)

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12 April 2009
Dr Eric Ng
Ak Koh Enterprise
Plot 110 Penang Free Trade Zone
11900 Bayan Lepas
PENANG
Dear Dr Eric Ng
As per conversation on 10 April, I hereby attach the report on International Marketing Plan for export one
of your existing product namely A1 Bak Kut Teh Spices to Republic of Korea.
This report will start with the background and situation analysis. First of all, we will start with understand
your company and A1 Bak Kut Teh Spices which will be export to Republic of Korea. Subsequently, the
report will share on the features and benefits of A1 Bak Kut Teh Spices. Following by that, we will
discuss on why we choose to export A1 Bak Kut Teh Spices.
Besides that, the report will analyze on the background of Republic of Korea in order to know more about
this country. Next, the report will further explain on why we choose to export A1 Bak Kut Teh Spices to
Republic of Korea but not others country.
In order to understand deeper on the market in Republic of Korea, the report will clearly analyse on
environment factors that will bring negative and positive impact to this project. The environment analysis
that will discuss in this report include economic and trade analysis, political and legal analysis and socialcultural analysis. With the deeper understanding on these factors, the risk to go abroad will be reduced.
Once again, we would like to thank you for giving us an opportunity to present to you and work with you
on this project. Feel free to contact me if you have any doubt.
Yours sincerely,

Yen Ling
Soo Yen Ling Account manager
c.c

Chin Chai Yen

Teoh Seok Kean

MKT8002
INTERNATIONAL MARKETING & MANAGEMENT

International Marketing Plan:

Export A1 Bak kut Teh Spices to Republic of Korea

Prepared for:
Dr Eric Ng
Submitted:
24th April 2009

Prepared by:
Chin Chai Yen
Soo Yen Ling
Teoh Seok Kean

Student No.: 0050092007, 0050092066, 0050092012 MKT8002 Assignment 1

EXECUTIVE SUMMARY

This is a report presents to create a strategic international marketing plan for Ak Koh
Enterprises product that will be launched in a foreign market Republic of Korea. AK KOH
ENTERPRISE mainly focuses on Quality Servicing as the top priority. The company objective
is to provide high quality services and products with their enthusiasm spirit as fundamental. After
considered the Korean and Malaysian Chinese have mutual in food culture, the product Bak Kut
Teh which consists of meaty pork ribs in a complex broth of herbs and spices has been a popular
Malaysian food since the 19th century. Ak Koh Enterprise would acquire to do research with
apply of international marketing concepts on Republic of Korea in order to develop a strategic
marketing plan. Through the research on the nations background, environmental situation and
other factors, which ease Ak Koh Enterprise projected the suitable time for entering into Koreas
market, the goods trading procedures and taxation, how well the mutual culture between
Malaysia and Korea impact on market penetration. Based on the various finding, the
opportunities such as potential of new products development and partnership are waiting to be
researched since Korea is one of the worlds highest population densities (www.state.gov 2009).
Marketers should pay attention to Koreans business manner and etiquette as personal
relationship is very important. In conclusion, environment factors analysis is crucial for Ak Koh
Enterprise to build a solid international marketing plan.

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Assignment 1

MKT8002

TABLE OF CONTENTS

Page

Executive Summary

1.0

Introduction

1.1

The Purpose

1.2

Scope of the Report

1.3

Limitations

2.0

3.0

4.0

Background & Situation Analysis

2.1

Company Background

2.2

Benefits and Features of A1 Bak Kut Teh Spices

2-3

2.3

Why A1 Bak Kut Teh Spices

3-4

2.4

Republic of Korea

2.5

Why Export A1 Bak Kut Teh Spices to Republic of Korea

4-5

Environmental Analysis
3.1

Economic and Trade Analysis

5-6

3.2

Political and Legal Analysis

3.3

Social cultural Analysis

7-9

Conclusion

List of References

9 - 10
11

Appendices
Appendix 1 Fact sheet of Republic of Korea
Appendix 2 - Microeconomic overview
Appendix 3 Export/Import overview
Appendix 4 Country statistical Profile, Republic of Korea 2009
Appendix 5 Climate of Republic of Korea

12
12
13
13 - 14
15

ii

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Assignment 1
1.0

MKT8002

INTRODUCTION

The trend of globalization has made characteristic important for the study of
international marketing. In order to go abroad, there are many method can apply by the
company. For instance, export, foreign direct investment and joint venture are the
common method that use by company (Armstrong & Kotler 2005). Such an investment
activities can be crucial to a company success in new and growing markets.
1.1

The Purpose

The purpose of the report is to do an analysis for Ak Koh Enterprise which

wishes to export one of its product A1 Bak Kut Teh Spices to Republic of
Korea.
1.2

Scope of the Report

The scope of the report is to provide a clear image to Ak Koh Enterprise on the
rationale to export A1 Bak Kut Teh Spices to Republic of Korea. Second, this
report will find out the benefits of A1 Bak Kut Teh Spices. Subsequently, this
report covers on the external environment that will face by the company when
they export A1 Bak Kut Teh Spices to Republic of Korea.
1.3

Limitations

The time constraint and words limitations encountered of the report with
maximum of 2500 words of length is allowed, whereby many of the further
study are restricted. Besides that, there are lack of research has been done on
Bak Kut Teh therefore it is quite difficult to get appropriate resources.

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MKT8002 Assignment 1
2.0

BACKGROUND AND SITUATION ANALYSIS

Background and situation analysis serve as a very important planning tool which

will help to study the current situation of the organization and its external environment.
2.1

Company Background
Ak Koh Enterprise has been in the food manufacturing business for 23

years and a factory has been setup in 1986 at Johor Bahru. The company is
famous with variety type of traditional herbal pack and one of the star products
is A1 Bak Kut Teh Spices.
Ak Koh Enterprise produces a wide variety of products such as
traditional soup pack, candy, prune powder, instant chicken curry sauce, white
pepper powder, snack, instant birds nest and so on. Ak Koh Enterprise also
launched a new range of product from Tongkat Ali to tempt the palate of nonChinese as well.
In the year 2002, Ak Koh Enterprise has been approved by Lloyds
Register Quality Management System Standards ISO 9001:200 for the
manufacturer of its herbal soups and prune or plum powder (www.akkoh.com
2009).
2.2

Features and Benefits of A1 Bak Kut Teh Spices

Bak Kut Teh or other known as meat bone tea consists of meaty pork

ribs in a complex broth of herbs and spices which are boiled together with pork
bones for hours has been a popular Malaysian food since the 19 th century when it
was introduced by Chinese rubber tappers in Malaysia. It is believed that
Chinese rubber tappers enjoys a great meal of Bak Kut Teh is the early hours as
it provides the required nutrition, warmth and acts as a health booster as it
prepared with natural herbs and spices. Till now, Bak Kut Teh is enjoyed as a
famous meal among Malaysians (www. akkoh.com 2009).
The natural herbs and spices that are to be found in preparation of a great
meal of Bak Kut Teh are mainly Dang Gui herb which is highly respected in

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MKT8002 Assignment 1
traditional Chinese medicine where it promotes white blood cell production and
fight inflammation, and may improve liver and kidney function and create
warmth. Another herb to be found in Bak Kut Teh is the Yu Zhu herb where it
promotes the lungs and stomach of an individual. Dang Shen herb that is
normally added in the preparation of Bak Kut Teh promotes the production body
fluid that will result in lower blood pressure and raise blood sugar level. Last but
not least is the Chuan Xiong herb where it helps our digestion system and ease
stomach distensions (www.vitaminstuff.com 2005).
2.3

Why A1 Bak Kut Teh Spices

Bak Kut Teh Spices that plan to export to the Republic of Korea is ready

to be served once it is heated up and add minimum sauces by the consumer. The
idea of Bak Kut Teh spices is similar to instant noodle that is easily to be found
in any small retail shops and even in major hypermarkets in Republic of Korea.
This is an ideal product to be marketed in Republic of Korea as the country is
the forth major developed economy in Asia and being so, people in Republic of
Korea demands a fast and convenient lifestyle to cater for their everyday needs.
Nowadays, consumer is care and concern on the safe and nutritional
value of the food that they consume everyday. Healthy life style has become the
most popular eating trend in the market. Not only convenient to prepare, Bak
Kut Teh soup provides the nutrients needed in an everyday meal. All the herbs
and spices that are used as ingredients in preparation of Bak Kut Teh are in the
list of traditional Chinese medicine where it has been consumed and trusted
since the early generations of Chinese history.
Beside that, the herb that is added in the preparation of Bak Kut Teh
soup which is Dang Gui roots will act and promotes warmth to their body during
winter days as Korea is famously known for their cold chilling winter season.
The instant Bak Kut Teh soup is ready to enjoy and suitable for both young and
old either male or female.

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MKT8002 Assignment 1
2.4

Republic of Korea
Japan has ruled Korea from 1910 to 1945 and then Korea was partitioned

by the US and the Soviet Union in 1945. Neither South nor North Korea won in
the subsequent war during the 1950-53. The two enemies Republic of Korea
(South) and the Democratic People's Republic of Korea (North) had solved
during the inter-Korean summit meeting in 2000. However, in 2008, political
relations worsened again. South Korea joined the Organisation for Economic
Co-operation and Development (OECD) in 1996. South Korea is declared as a
democracy nation after two military coups and several decades of authoritarian
rule. The president, Lee Myung-bak of the Grand National Party (GNP) took
office in February 2008 and servicing until February 2013.

2.5

Why Export A1 Bak Kut Teh Spices to Republic of Korea

Koreans shares the similar culture with Malaysian Chinese. The

ingredient that are used to prepare Bak Kut Teh soup will accepted by Korean as
Koreans accept pork and chicken as their everyday meal and they likes soup in
their daily meal preparation. An addition, A1 Bak Kut Teh spices is a Halal food
which is safe to consume by Muslim. There are estimated 40,000 Muslim in
Republic of Korea (Lankov 2002).
Korean believes that traditional Chinese herb as a main source to
generate and to promote their health (www.korea.net 2009). This can be seen in
their eating habit. For example, Korean is famous with herbal meal. The herb
that always consume by Korean is in the ingredients of A1 Bak Kut Teh.
Furthermore, Korean steamboat is one of the famous food cultures in Korea.
Bak Kut Teh soup can become a substitute to the traditional soup that use for
Korean steamboat.
Another rationale to promote A1 Bak Kut Teh Spice to the Republic of
Korea is to promote the Malaysian food culture into Korea and to gain
opportunity to promote Malaysia as a whole. It will further attract people to visit

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MKT8002 Assignment 1
Malaysia because people will gain an urge to have a taste of how the proper
meal of Bak Gut Teh soup tastes like in a traditional way of preparation.
On the other hand, A1 Bak Kut Teh Spice has fall in the mature stage in
the product life cycle. Ah Koh Enterprise can implement the new market
development strategy to export A1 Bak Kut Teh Spice to Korea in order to
expend its market and also to gain market share. The market for A1 Bak Kut Teh
are pack in Malaysia.
3.0

ENVIRONMENTAL ANALYSIS
3.1

Economic and Trade Analysis

The commodity price shock and the global financial crisis had pulled

down Koreas economic activity and pushed up inflation. Besides, the significant
decline in global trade has slowdown Koreas export growth and the declined of
national income. Korea has to face some challenges to sustaining the economic
growth over the medium term, develop a more notably tax reform, enhancing
service sector productivity growth and reforming the labour market and
education system (http://stats.oecd.org 2009).
Both components of GDP will recover in 2011-13 as external demand
begins to recover (Appendix 2). The local currency Won predicts to be
appreciated from 2010, in synch with an improvement in economic
fundamentals (http://stats.oecd.org 2009). The global markets including Korea
would be back on track moderately starting 2010, hence purchasing power will
return strong again. It is positive for Ak Koh Enterprise enter market when
purchasing power is begins strong.
Based on the analysis, year-on-year inflation rose to 4.7% in 2008, but
will return low again to an annual average of just 1.7% in 2009-13 (Appendix
2). Accordingly to Economist Intelligence Unit research (www.economist.com
2009), a deficit is expected beyond 2011; however, as the trade balance will turn
negative owing to stronger domestic demand boosting merchandise imports

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MKT8002 Assignment 1
(Appendix 3). Trading statistic shown the imports and exports of goods are
increased year on year from 2000-07 (Appendix 4). Hence, we believe through
the GDP recovery, global trading will be going on actively example the imports
of goods into Korea. Korea remains high interested in trade in goods
(Appendix 4) and through the easing of monetary system, Korea would need
actively finding trade partners to boost up their competitiveness position in the
world. HOW WOULD ALL THESE ECONOMIC ANALYSIS AFFECT THE
EXPORT OF YOUR PRODUCT?
3.2

Political and Legal Analysis

South Korea is now a democracy after two military coups and several

decades of authoritarian rule. The constitution of the Sixth Republic which

established in 1987 offers elected president, who serves a single five-year term
and appoints the prime minister and the cabinet. Besides, There is also a
unicameral National Assembly (parliament), elected at four-yearly intervals
(www.economist.com 2009).

HOW IMPORTANT IS THIS TO YOUR

COMPANY? HOW ABOUT POLITICAL STABILITY, ANY THREATS FROM

THE NORTH? ARE THEY STILL AT WAR?
South Korea is one of the members of United Nations since 1991, and
they maintains diplomatic relations with approximately 170 countries also
relations with Association of Southeast Asian Nations, that is links with Malaysia
country as well. Meaning, the two nations have no conflict in trading with each
other. The corporate income tax rates are from 13% to 25%. Besides, companies
are also subject to a residency surtax applied at a rate of 10% of corporate tax
liability. In short, Republic of Korea is stable in politic therefore, if we export
Bak Kut Teh to this nation, we can reduce the risk of investment.

3.3

Social cultural Analysis

Population

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MKT8002 Assignment 1
With 48.38 million people, South Korea is one of the world's highest
population densities (www.state.gov 2009). Major population centers are
located in the northwest, southeast, and in the plains south of the SeoulIncheon area (http://www.korea.net 2009). However, the population is
predicted to age faster than in any other countries due to the large rates of
emigration, where China, US countries are top preferences places. The
high population definitely provides good opportunities for our company
to expand market share and find new potential markets with our product.
Climate
South Korea has humid continental climate and humid subtropical
climate with four seasons. The spring starts at late March to May;
summer from June to early September; autumn begins from September
to November and winter from December to the mid March (Appendix 5).
Based from the climate chart below, we foresee our products selling
would be in peak during spring and winter seasons, due to the herbal
ingredients that tend to keep body warm. GOOD POINT.
Religion
Christianity (49%) and Buddhism (47%) comprise Korea's two dominant
religions. Although only 3% identified themselves as Confucianists,
Korean society highly adopted with Confucian values and beliefs
(www.rln-westmidlands.com 2007). Bak Kut Teh is a product that suit
for every korean no matter which religino they are, including Muslims.
This is one of the beneficial since the product obtained Halal certificate
which suit to Muslims.

Language
Chinese ideograms are believed to have been brought into Korea
sometime before the second century BC. Hence, about 1,300 Chinese

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MKT8002 Assignment 1
characters are used in modern Korean. English is taught as a second
language in most primary and secondary schools. We should take note on
product packaging and descriptions should added Korea language
besides Mandarin and Japan languages.
Food
Korea was ruled by the Chinese for several hundred years in the early
centuries AD. During this time, China established a lasting influence on
Korean culture especially on the cuisine and food. Korean still used to
eat rice and accompanied mostly seasoned vegetables, soup, pot stew,
and meat. Kimchi is a must in their daily meals. Besides, among meat
dishes, seasoned bulgogi (usually beef) and galbi (beef or pork ribs) are
the most favoured (www.everyculture.com 2008).
Since our product Bak Kut Teh is the herbal soup that perfectly match
with pork ribs and rice, we believe the traditional herbal taste very
suitable for Korean. This point is further convinced by the world popular
Korean drama Dae Jang Geum (Jewel in the Palace). This drama
portrays of Korean royal court cuisine and traditional medicine that
proven the herbal food acts to be the natural healing and supplements for
a healthy living (http://joongangdaily.joins.com 2009).
Business manner and etiquette
A good personal relationship is the key to win business in Korea. It is
importance for us to have an appropriate mutual friend for the right
introduction and approach. Besides, gifts-giving are often used to build
relationships. It is better to wait third party introductions in the first
meeting of Korean counterpart. Koreans used to spend more time in
fostering personal contacts. Therefore, we should allocate more time in
building the trust and rapport (http://www.usyd.edu.au 2006).
Koreans prefer exchange of business cards and knowing the person they
are working with. Therefore it is crucial to clarify position title as well as

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MKT8002 Assignment 1
provided translation of name card into Korean (http://www.usyd.edu.au
2006).
It is important do not talking or laughing loudly as well as use large hand
gestures or facial expressions. All of these are considered impolite in
Korean culture. In conclusion, business opportunities only available with
the high cultural knowledge and awareness in order to success into the
Koreans market.
4.0

CONCLUSION
Bak Gut Teh plays a very important role in Malaysia Chinese food
culture. It is the proud of Malaysia Chinese because it is a must try food for the
visitors or local. The intension to export A1 Bak Gut Teh to Republic of Korea
will push the business of Ah Koh Enterprise to the higher market share and
create huge profitability. In order to reduce the risk of going abroad, Ah Koh
Enterprise should choose nations that their culture is similar to Malaysia where
Republic of Korea definitely is a good choice. Other reasons to select Republic
of Korea as the target due to Koreas economic globalization resulted a positive
trade in for goods from 2010. It is a suitable time for Ak Koh Enterprise enters
Korea market in 2010 since flexible monetary policy to ease and support Koreas
economy is implemented aggressively. Based on the socio-culture analysis,
Koreans shares the similar culture with Malaysian Chinese. The benefits of
traditional herbals are very rich penetrated in Koreans social due to the Korean
royal court cuisine and traditional medicine that highly recognizable in Koreans
living. Bak Kut Tehs taste and ingredients can be customised to suit with beef
since Korean and Japanese do take beef in their daily.
In Korea business culture, it is always advisable to have third party
formal introduction in order to develop a solid business. Personal relationship
consumes more time in strengthen the rapport and trust. Ak Koh Enterprise
should understand the importance of increases Korea culture knowledge and
determined a mutual friend in Korea.

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LIST OF REFERENCES
Ak koh Enterprise 2009, Ak koh Enterprise Malaysia, Senai, Johore, viewed 10 April
2009, <www.akkoh.com>.
Armstrong, G. & Kotler, P. 2005, Marketing: An Introduction, 7th ed, Pearson Prentice
Hall, US.

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MKT8002 Assignment 1
Economist.com 2009, The Econimists Newspaper Limited, viewed 18 April 2009,
<http://www.economist.com/countries/SouthKorea/>.
Harvard Style (AGPS) Web sources 2008, University of Sourthern Queensland,
viewed 19 April 2009,
<http://www.usq.edu.au/library/help/ehelp/ref_guides/harvardonline.htm>.
Lankov, A 2002, Muslim society in Korea is developing and growing, Russian
newspaper Seoul Herald, 6 November, viewed 9 April 2009,
< http://www.islamawareness.net/Asia/KoreaSouth/ks_news006.html>.
Korea Business & Culture 2006, The University of Sydney, viewed 11 April 2009,
<http://www.usyd.edu.au/riap/internships/akip/culture.shtml>
Korea. Net 2009, The Korean Culture and Information Service, viewed 12 April 2009, <
http://www.korea.net/>.
OECD StatExtracts 2009, Organisations for Economics
Development, viewed 13 April 2009, <http://stats.oecd.org.>

Cor-operation

South
Korean
2008,
Advameg
Inc,
viewed
15
April
<http://www.everyculture.com/wc/Japan-to-Mali/South-Koreans.html>.

and
2009,

South Korea Business Culture Report 2007, West Midlands Regional Language
Network, Viewed 19 April 2009, < http://www.rln-westmidlands.com/PDFs/cultural
%20briefings/South%20Korea%20Culture%20Field%20Report.pdf>.
Summers, J & Smith, B 2001 Communication Skills Handbook, revised & updated
edition, John Wiley & Sons Australia Ltd, Australia.
U.S Department of State 2009, The Office of Electronic Information, Bureau of Public
Affairs, viewed 16 April 2009, < http://www.state.gov/r/pa/ei/bgn/2800.htm>.
Vitamins Stuff 2005, Library
<http://www.vitaminstuff.com/>.

of

Congress'

U.S.,

viewed

8 April

2009,

Young, PS 2009, Ancient land seeks tourists, Joongang Daily, 20 Jan, viewed 18 April
2009, < http://joongangdaily.joins.com/article/view.asp?aid=2900028>.

APPENDIX
Appendix 1 Fact sheet of Korea

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MKT8002 Assignment 1

Source: www.economist.com 2009

Appendix 2 - Microeconomic overview

Source: www.economist.com 2009

Appendix 3 Export/Import overview

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MKT8002 Assignment 1

Source: www.economist.com 2009

Appendix 4 Country statistical Profile, Korea 2009
Dataset:

Subject
Economic
globalisation

Trade

Country statistical profiles 2009

Country

Korea

Year

2000

Share of trade
in GDP

Trade in goods and

services

Trade in goods

Trade balance:
exports of goods
minus imports of
goods

Trade in
services

2004

2005

2006

2007

39

42

41

43

45

12

29

23

16

15

Imports of goods

160

224

261

309

357

Exports of goods

172

254

284

325

371

-3

-8

-14

-19

-21

33

50

59

69

84

31

42

45

50

63

Services trade
balance: exports of
services minus
imports of services
Imports of services
Exports of services

Trading
partners

Partner countries and

regions of OECD
merchandise trade

Partner countries and

regions of OECD
merchandise imports

Partner countries and

regions of OECD
merchandise exports

Balance of
payments

Current account
balance of payments

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MKT8002 Assignment 1
Foreign
direct
investment
(FDI)

FDI flows and

stocks

Outward FDI stocks

..

32,165

38,683

49,187

..

..

87,766

104,879

119,143

..

9,283

9,246

6,309

3,645

1,579

4,999

4,650

4,291

7,126

15,276

Inward FDI stocks

Inflows of foreign
direct investment
Outflows of foreign
direct investment
Prices

Prices and
interest rates

Purchasing
power and
exchange
rates

Consumer
Price Indices
(CPI)

CPI: all items

100

115

118

120

124

CPI: food

100

124

128

128

131

CPI: energy

100

113

119

127

131

100

105

113

113

114

..

Producer Price
Indices (PPI)

PPI: manufacturing

Long-term
interest rates

Long-term interest
rates

Rates of
conversion

Purchasing power
parities

Exchange rates

Effective
exchange rates

Indices of price
levels
Nominal effective
exchange rates

749

794

789

761

750

1,131

1,145

1,024

955

929

71

68

75

79

77

100

95

106

114

113

100

103

116

125

125

100

99

110

115

113

Relative consumer
price indices
Relative unit labour
costs in
manufacturing

Source:
www.oecd.org/document/52/0,3343,en_33873108_33873555_41832308_1_1_1_1,00.ht
ml 2009

Appendix 5 Climate of Republic of Korea

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Source: www.climate.charts.com