Korea

Introduction North Korea is the commonly used short form name for the Democratic People's Republic of Korea (or DPRK),a state located in East Asia, in the northern half of the Korean Peninsula, with its capital and largest city being Pyongyang. To the south, separated by the Korean Demilitarized Zone, lies South Korea, with which it formed the Korean Empire until its annexation by Japan and division following World War II. At its northern Amnok River border are China and, separated by the Tumen River in the extreme north-east, Russia. North Korea is a one party state The country's government styles itself as following the Juche ideology of self reliance, developed by Kim Il-sung, the country's former leader. The current leader is Kim Jong-il, the late president Kim Il-sung's son. Relations are strongest with other officially socialist states: Vietnam, Laos, and especially China, as well as with Russia, Cambodia and Myanmar. Following a major famine in the early 1990s, due partly to the collapse of the Soviet Union (previously a major economic partner), leader Kim Jong-il instigated the "Military-First" policy in 1995, increasing economic concentration and support for the military. There is a great need to appoint marketing companies in Korea because Korea’s culture and its behavioral aspects are not known. Its language the symbols they are using is un known to the people who are new to the place so just to reduce all the semantic, language and the phycological barriers

QUES :- How do marcoms help to achieve the international marketing objectives. The various scenario with example related to public relation activities? Ans :- North korea is a developed country so there are various marcoms which are there in the country few of them are Technology PR Pro Launches D.C. Copywriting Firm MarCom Ink, as these companies act as marketing communicators . As these are the Award-winning companies and highly focus on the public relations and marketing affairs. After a decade in technology PR and marketing, Cornwall is capital MarCom Ink works with mid-to-large size

organizations, as well as marketing and public relations agencies, as a seamless extension of their internal marketing and PR staff. “Clients really enjoy the flexibility and cost savings of hiring MarCom Ink just for their specific marketing needs and timeframe, with zero overhead costs,” stated Cornwall. Zing on the growing software marketing outsourcing trend. QUES :- How will you organize the selection of marcoms? Ans :- As there are various marketing communication companies Korea uses those companies which makes the work of advertisements easy and cheap . Korea is the well developed place where there is a need to promote the activities that are happening in that place . selection of the marcoms in north Korea will be done after seeing the basic conditions and the policies of the government. The company who will satisfy the basic need of the country that will be selected for the marcoms. generally the companies that are fully fitted in the scenario of Korea and Korean people are selected . various parameters are decided to test the efficiency and the value of company QUES :- What is the balance of expenditure b/w the various element of promotion mix ? Ans :-

Balance of Expenditure between the elements When you promote your business, you're engaging in persuasive communication: You want to convince others to buy from you. You must select the right promotional strategy to: 1. Capture the attention of the right group of potential customers in a credible yet catchy way. 2. Educate them about your products or services. 3. Influence them to buy from you As the north korea is the developed country so they get their finance from the other financial institutes .The government has proposed such facilities to provide the loan and finances to the companies .The country has adopted all the expensive techniques to promote the products within the other countries. Thus they spend a lot on the promotion of the products. QUES: - Detail Tactical plan needs to be from highlighting the timing schedules? ANS: The tactical plan demonstrates how the strategic plan will be executed--it is where the rubber meets the road. Typically, tactical plans are described within the Marketing Plan while reviewing the four Ps i.e. Price, Place, Product, Promotion of the marketing mix. It includes: 1. Build Awareness 2. Collaborate with Organizations 3. Disseminate Knowledge 4. Enhance Membership 5. Grow Research 6. Meet the Needs for Clinicians 7. Optimize Organizational Structure 8. Partner with Patients 9. Revenue Diversification 10.Strengthen Advocacy

Tactical plans that the companies are using are the agreements that they are making with the other countries and time to time advertisements that re either conducted as the print or the visual advertisements. they have made the plans to promote the things on those event where the people gather more even they have the facility to do use various promotional tools such as direct selling ,personal promotion,etc. They deliver their samples to various countries and when they approve this the tea ,the product is then delivered to the rest of the countries. QUES: Define Contingency Plan in reference to Korea? Contingency refers to the happening of an event. Suppose a situation unfavorable for the company arises. To tackle that situation companies go for contingency planning. In relation to Korea, it is the first country to prepare a contingency plan for Oil. This means that they are taking precautionary steps to protect country from oil crisis.

REFFERENCE Northkorea.com Tactical plans need to be highlighted Balance of expenditure of northkorea

ASSIGNMENT OF INTERNATIONAL MARKETING

Topic: Marketing Communication Korea

Submitted To: Dr. M.K Sharma

Submitted By: Preet Shikan 2020070554 MBA 3rd Sem.