Different Marketing Strategies Employed by Korean Businessmen in Iloilo City, Philippines
Different Marketing Strategies Employed by Korean Businessmen in Iloilo City
by: Sangsoo Hong
The growth in the economy of the Philippines triggered by foreign investors in the country showed that the Philippine business environment is thriving and opportunities exist. In Iloilo city, there was an influx of foreign investors setting up various businesses and the economy does not appear to be slowing down.
One noticeable fact when driving around the downtown area and business center of Iloilo is the presence of Korean restaurants, English Language Academy, grocery stores, internet shops, car shops, and other various establishments owned or managed by Korean entrepreneurs who decided to build their businesses in the city.
Behind these facts, this study was written to determine the different marketing strategies employed by Korean businessmen in Iloilo City. The influx of Korean entrepreneur engaging in businesses in the city demanded scrutiny because no study has ever been done to measure their impact in the economy. It is also interesting to find out how do Korean entrepreneurs survive in the cutthroat business competition, or how do they deal with the difference in culture of the Philippines and Korea but still maintain a steady stream of profits and customers.
This study also aims to identify the factors affecting Korean entrepreneurs in deciding the marketing strategy to be used. Can independent variables such as age, gender, type of business, and religious beliefs affect Korean entrepreneurs’ decision in selecting the proper marketing strategies? How does the difference in culture affect their decisions? These are the reasons for establishing this research study.
Statement of the Problem
This study aims to determine the different marketing strategies employed by Korean entrepreneurs doing business in Iloilo City and the factors affecting their decisions on what strategies to use.
Objectives
This study aims to determine:
A.
by: Sangsoo Hong
The growth in the economy of the Philippines triggered by foreign investors in the country showed that the Philippine business environment is thriving and opportunities exist. In Iloilo city, there was an influx of foreign investors setting up various businesses and the economy does not appear to be slowing down.
One noticeable fact when driving around the downtown area and business center of Iloilo is the presence of Korean restaurants, English Language Academy, grocery stores, internet shops, car shops, and other various establishments owned or managed by Korean entrepreneurs who decided to build their businesses in the city.
Behind these facts, this study was written to determine the different marketing strategies employed by Korean businessmen in Iloilo City. The influx of Korean entrepreneur engaging in businesses in the city demanded scrutiny because no study has ever been done to measure their impact in the economy. It is also interesting to find out how do Korean entrepreneurs survive in the cutthroat business competition, or how do they deal with the difference in culture of the Philippines and Korea but still maintain a steady stream of profits and customers.
This study also aims to identify the factors affecting Korean entrepreneurs in deciding the marketing strategy to be used. Can independent variables such as age, gender, type of business, and religious beliefs affect Korean entrepreneurs’ decision in selecting the proper marketing strategies? How does the difference in culture affect their decisions? These are the reasons for establishing this research study.
Statement of the Problem
This study aims to determine the different marketing strategies employed by Korean entrepreneurs doing business in Iloilo City and the factors affecting their decisions on what strategies to use.
Objectives
This study aims to determine:
A.