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Consumer Behavior Case Study

In: Business and Management

Submitted By datiegun
Words 2579
Pages 11
Introduction

The main purpose of this report is to analyze the beef and wine markets in South Korea with two theories of consumer behavior as following, social classwhich include the income of different levels of class and their behavior toward beef and wine. In addition, in this report, the attitudes of consumer will also be taken into account as the main focus to evaluate the points of marketing strategy and how South Korean consumers buying behavior different from Australian. With social class and attitude these two aspects of consumer behavior can provide the Australian beef and wine markers the better information about their target market and to understand how they response to the importing products.

Background

The economy of South Korea is ranked eleventh in the world and third among Asian countries, thus unquestionably South Korea consumer has a certain buying power and might be a potential market for Australia. From Department of Environment and Primary Industries 2012, with a GDP of $1.46 trillion (USDA, 2011), the economy of South Korean was ranked 13th largest in the world in 2010. Approximately 6.1% economy inclined in 2010 and it brings per capital of buying power about $ 30,000 USD (CIA, 2011). The demand for the healthy products and with high quality food is increasing in South Korean market. Owing to the climatic reasons and the capacity of the land is limited in South Korea to expand the farms and wine vineyard thus Australia has been one of main exporter to South Korea.

According to government report, for Australian wine South Korea has became an important export market. In 2008, approximately 1.9 million liters of wine, which valued $12.7 million was exported to South Korea from Australia. The average price of wine per liter $6.71 AUD. More than 73% of exports to South Korea from Australia are bottled products and the soft packs are…...

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