Cajun Food in South Korea - Essay Example

Cajun Food in South Korea Phase Home country Cajun Food is a Mississippi based fast food cuisine. The state of Mississippi has significant geographical advantage because the Mississippi River is flowing by this state. Being a fast food cuisine this geographical location will be significantly helpful for the particular cuisine (Gregg 56-59). All the raw materials needed for this particular cuisine will be exported from Mississippi. The state of Mississippi has abundance of seafood resources which are significantly helpful for the purpose of Cajun Food business expansion. USA is the proper country from where all the raw materials will be imported. Host (target) country Target country for this case is South Korea. South Korean people are very much attracted towards the sea food items. That is why the country is an automatic choice for this business expansion. Food habits of South Korean people are significantly suitable and at par with the Cajun Food item. High level of seafood affinity from Korean people has made this place absolutely suitable for the particular food item. Availability of seafood items has made Korean peninsula an attractive destination for Cajun Foods. Competition The aim of the project is to expand the idea of Kajun food into the market of South Korea by removing its competitor “The Boiling Crab and Cajun Restaurant Pier 17”. Another way it can deal with it is to start a joint venture with its competitor. Kajun has the motive to explain & elaborate the present trend in the ROI market. Phase 2 Product The food under consideration originated from the deepest part of Louisiana and Mississippi. The flavors of the food consist of an amalgamation of sea foods with spices. The availability of sea food is ensured by the bordering Japan Sea and Yellow Sea. Sea food always forms a major item of the people living in the boundaries of Eastern Asia. The study confers to expansion into the markets of South Korea. Brand name The brand name of this company is Cajun. This brand overcomes the cultural barriers. It gives a youthful perception and tries to increase the frequency of the purchase. This brand delivers a common message to all of its customers. Kajun aims to offer a new taste to the western world with the slogan that the south has risen following Kajun’s lifestyle. Features The features of Cajun food are like it contains flavors of spices along with the taste of seafood. It brings the taste of westernized Eurocentric touch to its food. Packaging The packaging can be done in tinned containers for export purpose. Such packaging system will keep the food fresh. The customers can buy frozen fresh Cajun food. For instant serving the food can be served on platters. The mission of the company is provide best quality food to the customers and so it is advised to make the packaging system in such a way it will keep the food fresh for maximum time period. Style The style of offering the food to the customers shall be attractive. The customers shall feel the appetite of consuming the food. The style of presenting the food can be done so as to provide the customer a rough idea about the ingredients of the food or nutritional values. Price The price can be varied in between $7 to $20 depending on the dish to be served. The price can vary according to the demand of the market, availability of the product, rate of inflation and economies of scale. Promotion The promotion of Cajun food can be done by print media and social media. The company can create a page in all the popular social media websites like twitter, face book where people can follow their product and know about them in details. Kajun should advertise its product in the famous TV channels of South Korea like CJB, EBS TV, GTB, JIBS, JTV and KBC etc. Another way of promoting its product is by publishing its ad in the in some famous magazines of South Korea like 10 Magazine, Groove Magazine etc. Here the company can mention in details about the food products, its taste and reviews. This promotional tool attracts many customers (Fry 42). The promotion of the food should be done in such a way that it builds a strong relationship with its targeted customers. All of its advertisement should share the common message of promoting the brand. With the company’s promotional tools the customers behavior should be affected so that they get influenced to purchase the Kajun’s products. 5 factors analysis The five factor analysis of Cajun’s food can be done by using Porters Five Force Model. Kajun’s will always face a threat of new entrants in its business of Cajun’s food. This is because it is a fast food product. So there is a huge customer’s base for these products which are easily available. Many companies will like to develop their business in this type of food industry. Cajun is a sea food. It is a new type of food so it has a very few suppliers in that region (Bienvenu and Brasseaux 57-60). Therefore the barraging power of the suppliers will be high. Presently there is no threat of substitute product in South Korea because no company as of now is manufacturing such food product. The customers do not have the option to select any other food items from the available alternatives. So the threat of substitute is low. The price of such product is fixed so there is no bargaining power of the buyers. Competition prevails in the food industry of Cajun. The Boiling Crab and Cajun Restaurant Pier 17 is the competitor of Kajun. So rivalry is present in the South Korea market. Place The company should target such places in the South Korean market where the fast food selling is high and sufficient population is present for purchasing the product. The company should do intensive research on the taste of the people of South Korea and according to that it should place its products in different location of the country. First food generally sells more besides schools, colleges and universities. Therefore Kajun should target those areas. Distribution Distribution of Cajun product can be done by agencies, distributors etc. The company can move into contracts with the suppliers & the distributers who will supply the food items directly into the market of South Korea. An efficient supply chain process will contribute to overcome the problems in product supply. Company can have a deal with ITSBio, Inc. who will help in delivery of the food items. Consumers will like to purchase the product from the restaurants. Evaluation the economic development South Korea is a member of WTO & IMF. Kajun can apply for loan from WTO for starting its new business venture in South Korea. It will help the process of initiating the business in the South Korea & allocation of funds would not be any issue. It will act as the catalyst in economic development of the nation creating new employment opportunities. Trade agreements USA and South Korea has defined clear cult trade agreement among them. This provides opportunity for US food companies to conduct their businesses in to the South Korean Soil. U.S.-Korea trade agreement can allow the Cajun food to get the benefit of lower tariff (Shelley and MacDonald 78-79). Due to this trade agreement of 2012 thousands of tariffs have been eliminated. It can affect the business significantly because the business will have to pay less amount of tariff. Works Cited Bienvenu, Marcelle., and Brasseaux Carl. Brasseaux, Ryan. Stir the Pot: The History of Cajun Cuisine. New York: Hippocrene Books. 2005. Print. Brazinsky, Gregg. Nation building in south korea: koreans, americans, and the making of a democracy. Carolina: ReadHowYouWant.com. 2009. Print. Fry, Macon. Cajun Country Guide. Louisiana: Pelican Publishing. 2000. Print. Marshall, Shelley., and MacDonald, Kate. Fair trade, corporate accountability and beyond: experiments in globalizing justice. London: Ashgate Publishing. 2013. Print. Read More