Korea Cultural Barriers

For any market research the budget allocated by the company plays a big part in the outcome of the initiative. Due to the dominant market position of LBL and the increased sales volume in the local arena and the current financial position and the performance of the company, LBL is in a stable position to provide a sufficient budget for the said research to be performed in order to expand their reach in to export markets. Since the company wants to expand their export market reach aggressively; the research is also have to support the same initiative.
First the scope of the research has to be determined along with the right methodology. Since LBL planning on entering in to a brand new market space, South Korea the market research should be

When conducting one on one interviews, surveys, questioners to collect primary data the research team must have a thorough understanding on the South Korean cultural aspects and boundaries in terms of meeting and greeting norms, communication style & personal space, etc. For example bowing is the traditional way to greet in South Korea and handshakes often accompany the bow among men. But Korean women do not always shake hands and may slightly nod instead of a full bow. Communication can be complicated in South Korea due to an inherent dislike of saying ‘no’ as it is considered poor etiquette; hence language speakers must be recruited to conduct the data collection. Koreans value their personal space and the recruited language speakers will have to be mindful of the fact that they should respect their personal aura space. Koreans do not like the colour red and number 4 as it is considered to be the sign of death and the researches should avoid the colour red and no. 4 in order to get the maximum and genuine information from target consumer base while performing the surveys and interviews let it be personal, telephone or

Ex: Allied Market Research Company United States. Lack of experience and the expertise in the research trade is common problem and LBL can eliminate this fact by recruiting a well renowned research firm who will use the latest statistic and research platforms and research methods such as Envivo and SPSS, Survey Monkey. By outsourcing the said research LBL can focus on the key core functions of the company as the research it is too much to handle internally; however LBL have to be monitor the research process closely in order to achieve the set objective of penetrating to the South Korean Market. Further appointed research company will have to recruit native language speakers who are aware of their native culture and the taboo areas of the market; hence it will open doors to obtain accurate information from the