Case 2 Kpop notes - Case analysis PDF

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International Marketing K-Pop Case Study: A Global Music Factory Fizzling Out Question 1: What are the key characteristics of K-Pop as a cultural product? Why is K-Pop successful? Hofstede’s Insights China:

South Korea:

Japan:

United States:

Hallyu – Korean Wave used to describe the popularization of Asian culture amongst other markets. Predominantly affected South Korea, United States, Japan and China. -

Driven by popular TV dramas such as Winter Sonata (Generated US$2 billion dollars) Also driven by increased tourism to Korea in mid 2000s. Popular amongst teenagers and young adults Governments started building the economy around K-pop culture https://www.inboundlogistics.com/cms/article/southeast-asia-region-on-the-rise/

Question 2: What are the innovative characteristics of K- Pop as a business model? Innovative Characteristics of K-pop

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Audio visual elements (song, dance, routines, and music videos) to create 1 big visual experience Song diversity: hiphop, R&B, Bubble gum pop Use of different languages (Korean and English) to attract more audiences Synchronized choreography routines that are recognizable, and can easily be implemented into mainstream culture (Gangnam style and riding horse) Synchronized as a whole, emphasizing chorus, music, hook, adding appeal and meaning to music. Utilizing public interest in their dancing to resonate in other dance groups such as 2NE1, Super Junior, and Wonder Girls. Increase the odds of music going viral. The use of Music groups instead of single superstars to create the perception of “no leader”. Encourages fans to pick favourites and develop an emotional attachment to the band. Can also promote diversity and expand the audience by having different styles between members. Collaborated all aspects of the routines (song, dance, production) instead of outsourcing it to keep together their perceptions and organizational goals. Aligns with the label’s initial concept. Outsourcing can also increase the risk of flaws and authenticity that doesn’t align with what consumers want.

… Question 3: Analyze the internationalization process of K-Pop. How do K-Pop companies promote their artists in global markets? -

Heavily dependent on social media (through Youtube videos through auditions) Collaborations with Western Artists and global entertainers (with Snoopdowg, Christina Aguillera, Britney Spears, Celine Dion, Jennifer Lopez). Hired younger talent to appeal to more audiences (some 9-10 years old) Training of younger talent in order to view music as a craft and responsibility and also taught the marketing perspective to music such as learning different languages and trends. Created social media channels to communicate to their fan base and cited as a cultural icon. This created the development of K-pop in south America and middle east. Communicated concert dates and new releases on social media as well so to captivate attention (flash mob in 2011) Bypassed the traditional methods of self-promotion such as in TV and radio (effective)

… Question 4: There has been growing criticism of K-Pop. What would you recommend to Korean entertainment companies in order to sustain their success? SWOT Analysis: Strengths (In company’s control / Internal) -

Opportunities (External, Society’s control) - Increasing opportunities for Dramas, movies, songs and TV show through the Hallyu effect (USD 2billion dollar) - Used as a government tool to strengthen the export centre

Weaknesses (internal)

Threats (External)

Possible solutions: -

Have a more centred approach to targeting niche markets globally (Hallyu 3.0) Open up the range of music to target different cultures in western society (Diffusion stage) Focus on JYP entertainment for rapid growth and prioritize SM entertainment over YG Entertainment (Cost-benefit analysis) Conduct more Research and development on foreign countries to property diversify music.

Results: Question 1: Addictive melodies, synchronised choreography, creative visual content, systematic training, multilingual capabilities, rapid distribution, supported by government agencies. Question 2: Entertainment has always viewed talent as pre-existing but different for K-pop (producing artists). They also focus on a variety of different content at once. All produced by the manager and artists didn’t have a lot of say. -

Relationship with the artist and company Dependent on individual artists Power shift from artist to company. Company is at risk “Products” reflection of local culture

Question 3: -

Production by a global team Customized and localization of marketing strategies

Question 4: -

Nothing in entertainment is sustainable Creating synergy with other Korean wave entertainment forms....