About the issue
Publications
Partners
September 2021 (published: 22.09.2021)
Number 3(46)
Home > Issue > Analysis of the business strategy of the South Korean
holding Amore Pacific
Chudnova O.A. , Pak K.S. , Oleinik E.A.
Currently, there are a huge number of companies that produce products that are identical in functionality. It is quite difficult for companies to take a strong position and fully function in the modern economic space. In this regard, an effective business strategy is needed due to the fact that constant competition and customer satisfaction require not only production improvements, but also the use of marketing tools that contribute to the active promotion of goods on the market. The purpose of this study is to analyze the business strategy of the South Korean holding Amore Pacific. The object of the research is the Amore Pacific holding, and the subject is their business strategy. The methodological basis is the 4P concept, STP model and SWOT analysis. In the course of the study, it was revealed that the greatest risk for Amore Pacific is the combination of the company's weaknesses with the potential threats to it. To solve the resulting problems, it is necessary to direct the greatest amount of the company's resources to advertising through Russian and European bloggers, hold promotions and master classes, and also launch the sale of sets of miniatures with the possibility of testing them. The emphasis on B2C sales will allow the company to get closer to the consumer and attract the attention of consumers with its own promotions that stimulate sales. Strengths combined with opportunities allow us to minimize any risks faced by the company and to carry out the most effective activities to expand the sales market. Combining strengths with threats also mitigates risks or their impact on Amore Pacific. The interaction of weaknesses and opportunities allows the company to launch a new segment of production, as well as find new ways to popularize products.
Read the full article
Keywords: Amore Pacific Holding, SWOT analysis, marketing, business strategy, 4P concept, market.
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
UDC 339.13
Analysis of the business strategy of the South Korean
holding Amore Pacific
Currently, there are a huge number of companies that produce products that are identical in functionality. It is quite difficult for companies to take a strong position and fully function in the modern economic space. In this regard, an effective business strategy is needed due to the fact that constant competition and customer satisfaction require not only production improvements, but also the use of marketing tools that contribute to the active promotion of goods on the market. The purpose of this study is to analyze the business strategy of the South Korean holding Amore Pacific. The object of the research is the Amore Pacific holding, and the subject is their business strategy. The methodological basis is the 4P concept, STP model and SWOT analysis. In the course of the study, it was revealed that the greatest risk for Amore Pacific is the combination of the company's weaknesses with the potential threats to it. To solve the resulting problems, it is necessary to direct the greatest amount of the company's resources to advertising through Russian and European bloggers, hold promotions and master classes, and also launch the sale of sets of miniatures with the possibility of testing them. The emphasis on B2C sales will allow the company to get closer to the consumer and attract the attention of consumers with its own promotions that stimulate sales. Strengths combined with opportunities allow us to minimize any risks faced by the company and to carry out the most effective activities to expand the sales market. Combining strengths with threats also mitigates risks or their impact on Amore Pacific. The interaction of weaknesses and opportunities allows the company to launch a new segment of production, as well as find new ways to popularize products.
Read the full article
Keywords: Amore Pacific Holding, SWOT analysis, marketing, business strategy, 4P concept, market.
DOI 10.17586/2310-1172-2021-14-3-198-208