Read the following situation, then answer Questions In a hypothetical situation, Jaws Tteokbokki, a popular Korean resta
Posted: Fri Jul 01, 2022 9:09 am
Read the following situation,then answer Questions
In a hypothetical situation, JawsTteokbokki, a popular Korean restaurant chain is considering toexpand its business to Malaysia. Initial market intelligenceindicated at least 300 Korean restaurants are currently operatingin the country, of which a significant number of them arerestaurant chains. The company is aware of the requirements forHalal certification and will be able to adapt its operations tosuit the requirements without any critical problems. The companytakes the prevalence of Korean restaurant chains in the country asan indication that the market is not culturally distant andtherefore assumes that market acceptance towards Korean food maynot pose a significant issue. Yet, upon further investigation, itwas revealed that the market is close to being saturated,therefore, the company needs to be careful in selecting its entrystrategy. Based on the Global Retailing Market Entry StrategyFramework, you are to advise the Korean restaurant chain on thebest strategy to enter the Malaysian market.
Question 1
Describe each market entry strategy inthe framework and discuss how would Jaws Tteokbokki make use of theframework. (around. 600 words)
(Total = 30 Marks)
In a hypothetical situation, JawsTteokbokki, a popular Korean restaurant chain is considering toexpand its business to Malaysia. Initial market intelligenceindicated at least 300 Korean restaurants are currently operatingin the country, of which a significant number of them arerestaurant chains. The company is aware of the requirements forHalal certification and will be able to adapt its operations tosuit the requirements without any critical problems. The companytakes the prevalence of Korean restaurant chains in the country asan indication that the market is not culturally distant andtherefore assumes that market acceptance towards Korean food maynot pose a significant issue. Yet, upon further investigation, itwas revealed that the market is close to being saturated,therefore, the company needs to be careful in selecting its entrystrategy. Based on the Global Retailing Market Entry StrategyFramework, you are to advise the Korean restaurant chain on thebest strategy to enter the Malaysian market.
Question 1
Describe each market entry strategy inthe framework and discuss how would Jaws Tteokbokki make use of theframework. (around. 600 words)
(Total = 30 Marks)