Revitalizing Market Entry Strategies: A Case Study of a Korean Restaurant in Beijing
Services Provided: Market Entry
The Challenge
A leading Korean restaurant chain with over 1000 stores sought to expand its presence but faced challenges in its initial attempt to enter the Beijing and South China markets. Recognizing the necessity for a comprehensive Korean market entry analysis, the company reevaluated its strategy and enlisted the services of CSA to conduct a thorough examination, aiding them in better understanding the dynamics of these regions.
Our Solution
We worked directly with the CEO and the senior management team to diagnose the key reasons for failure, and prepare for the start of company-owned stores in Beijing.
The six month project included but was not limited to:
Market Outlook and Competitive Overview
Concept Overview with Recommendations for Refinements
Key Market Entry Considerations
Operations & Human Resources Overview
Design & Brand Development Review
Marketing, PR & Sales Growth Promotion Plans
Development of Five Year Business Plan with Financial Model
Results
Client gained a realistic assessment of their market position and the key management challenges to their existing China restaurant organization and South Korea support teams. Market entry was temporarily delayed while the company recruited more experienced local Chinese managers to ensure a successful reintroduction of the brand.
If you seek assistance in navigating similar challenges or enhancing your business strategies, feel free to contact us for tailored solutions and expert guidance, with the support of our Global Franchising & Licensing Services, Expertise in Hospitality Consultancy & Entertainment Retail Solutions, and more!