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Developing countries could grow based

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"The Republic of Korea has become a leading country in terms of exports with a 3 percent share of the world's merchandise export trade. Once a poor country, the Republic of Korea has invested in electronics, developing their own global brands that are sold both domestically and internationally. Currently, the two highest-ranked brands in Korea are Samsung and Hyundai.

Samsung is the number one brand in Korea and in 2014 it was ranked 18th in the FT Global 500 companies. Samsung is the largest semi-conductor manufacturer brand. It manufactures many consumer electronic devices including TVs, computers, microwave ovens and communication devices. Often over 50 percent of products manufactured in the Republic of Korea are sold domestically, but they are clearly gaining recognition and sales worldwide. The Republic of Korea's most famous communication device is the Samsung Galaxy Smartphone. Domestically, the Samsung Galaxy outsells its main rival, Apple's iPhone. The Samsung Galaxy S6, launched in 2015 at the MWC (Mobile World Congress) was tipped to be the Number 1 Smartphone. Continuous innovation and creativity at Samsung keeps journalists and consumers anticipating the next 'big revolution and evolution'. Samsung's brand helps enforce Korea's country brand as one that is a hub of cutting-edge ideas, technology and design.

The Republic of Korea's second best brand is Hyundai, ranked 150 in the FT Global 500 Companies. Hyundai produces high-end luxury cars, SUVs, low- cost cars, together with trucks and commercial vehicles. Whilst Hyundai sells cars in 180 countries mostly through dealerships, their largest target market is in China and India. One of the reasons Hyundai is gaining popularity is their dedication to the brand's aim, which is 'New Thinking, New Possibilities. With that aim in mind, Hyundai continuously challenge and revolutionise car technology, particularly in their low-cost car range."

Source: Doole, I., Lowe, R. and Kenyon, A. (2016) International marketing strategy. 7th Edition. Cengage Learning EMEA, p. 59

Discussion questions:

1. Critically assess the environmental factors that are fuelling the growth of the super brands Samsung and Hyundai.

2. Discuss how other developing countries could grow based on the Republic of Korea's model as presented here.

Reference no: EM133378325

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