Market and Customer Research
Comprehensive market research and customer research are crucial when launching a product or service in Korea. These processes provide essential insights into the local market and audience preferences.
Here's a breakdown of the content that can be involved in market research and customer research:
Market & Competitor Analysis
Providing an overview of the Korean market, including its size, growth potential, and key industry sectors
Gather insights on customer perceptions of your competitors and what distinguishes your offering.
Consumer Purchase Behavior
Highlighting current and emerging market trends, consumer behaviors, and preferences in Korea
Analyzing the customer journey, from awareness to post-purchase, to identify key touchpoints and opportunities for engagement.
Distribution Channels & Price Sensitivity
Describing the distribution channels available in Korea, such as retail, e-commerce, or wholesalers.
Analyzing consumer price sensitivity and price points in the market, which can influence your pricing strategy.
Customer Profiles & Needs findings
Conducting survey, interviews, or focus groups to understand customer needs, preferences, and the problems your product or service can solve.
Identifying target audience, including demographics, interests, and pain points
Localization Strategy
Determining how to tailor your product, service, and marketing to align with Korean consumer expectations and culture.
Providing recommendations on the most suitable market entry strategies based on market dynamics.
By conducting thorough market research and customer research, you can tailor your product or service, marketing strategies, and overall approach to meet the specific needs and preferences of the Korean market. This information is invaluable for a successful product or service launch in Korea.
Website Building and Management
Building and managing a website involves several key elements and content areas to ensure an effective online presence as follows:
Design and Hosting
Creating an appealing and user-friendly design that aligns with brand and providing a positive experience.
Choosing a reliable hosting provider to ensure your website is accessible and loads quickly.
SEO Optimization
Optimizing website for search engines with keyword research, on-page SEO, and meta tags.
Optimized SEO is easiest way to save money for marketing and launch product and service.
E-commerce Integ.
If selling products or services online, need to integrate e-commerce functionality and secure payment gateway.
Content Update
Regularly update and refresh content to keep the website relevant and engaging.
The more interesting content updated, the easier set up your product and service.
User Experience Improvement
Providing a way for users to leave feedback or access customer support.
This way will lead to gather user feedback and make ongoing UX improvements to enhance the user experience.
Product and Service Promotion
Effective product and service promotion is one of the key factors for companies for successful launching to the target audience. Numerous media are considered here for a successful launch( for exampls : TV ads, banner ads, social media ads, articles, viral marketing, email marketing, press release and etc.)
Partners Matching(Networking)
Partner matching is a crucial aspect of launching a product and service in a new market, especially when expanding from one country to another. In order to successfully match partners and introduce products/services into Korea, “Modoo” provides and consider factors as follows:
1. Partner Profiles: Create detailed profiles of the types of partners you are looking for, including their industry, size, capabilities, and geographical preferences.
2. Value Proposition: Clearly communicate what value you bring to the partnership. And, explain how your product or service can benefit potential partners and their customers.
3. Market Insights: Provide insights of the Korean market, including market trends, consumer behavior, and competitive analysis, to help partners understand the business landscape each other.
4. Terms and Conditions: Outline the terms and conditions of the partnership, including revenue-sharing agreements, contractual obligations, and expectations.
5. Success Stories: Share success stories or case studies of past partnerships or collaborations, demonstrating the positive outcomes that partners can expect.
6. Legal and Regulatory Information: Explain the legal and regulatory requirements for businesses operating in Korea, ensuring that potential partners understand compliance issues.
7. Expectations and Roles: Clarify the roles and responsibilities of both parties in the partnership, setting expectations for each partner's contributions.
8. References: Provide references from past or current partners who can vouch for your professionalism and ability to work effectively.
9. Support and Resources: Explain the support and resources you will offer to partners, such as marketing support, training, or access to your network.
10. Localization Needs: Discuss any localization requirements for your product or service to better suit the Korean market, including translation, cultural adaptation, and customer support in the local language.
11. Market Entry Strategy: Share your market entry strategy and the role that partners will play in this strategy.
12. Networking Opportunities: Offer information on networking events, trade shows, or industry associations where potential partners can meet you and learn more about your offerings.
13. Contact Information: Include clear contact information for inquiries and expressions of interest in potential partnerships.
14. Technology Compatibility: If relevant, provide details about the compatibility of your technology or systems with potential partners' existing infrastructure.
15. Data Sharing and Protection: Address data sharing and protection policies to ensure partners understand how customer data will be handled.
16. Scalability and Growth: Discuss how the partnership can scale and adapt to accommodate growth in the Korean market.
17. Milestones and Goals: Set clear milestones and goals for the partnership, with a focus on what both parties aim to achieve in the short and long term.
18. Market Demand: Share market research data that demonstrates the demand for your product or service in Korea.
19. Testimonials: Include testimonials from satisfied partners or customers to build credibility and trust.
Other Services
Launching a product or service in a new market like Korea often requires a range of supplementary services to ensure a successful market entry. In addition to the core services mentioned above, we offer cutomer oriented service that businesses may require when expanding into the Korean market like local establishement, korean translation servcie, payroll services, and product packaging.
Local Office Establishment
Help with setting up a physical office or branch in Korea, including office space selection, leasing, and management.
Translation Service
Professional translation of marketing materials, website content, and product documentation into the Korean language, as well as cultural and regional localization.
Payroll service
Manage employee compensation, including salaries, wages, bonuses, and payroll report. We offer staying up-to-date with labor laws and regulations, including minimum wage requirements, overtime, and other employment standards.
Customized Packaging
Tailoring product packaging based on brand identity to appeal to Korean consumers
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Company info
Registration No. 370-88-02434
C A L L M E
82-10-7377-7762
E - M A I L
modoocontactinfo@gmail.com
A D D R E S S
2nd Floor 3Ho, Dong-il ro 104 gil 41, Jungnang-gu, Seoul, South Korea
02142