Abstract
This aricle summarizes Samyang-Nongshim’s long standing competition from the 1960s to the 1980s, and analyzes the business strategies selected by each company in the changes of Korean Society. In this period, the growth of Korea’s economy was accompanied by an increase in national income and a change in food culture, which led to the development of the domestic food industry. The food industry in Korea grew with the Park Chung-hee government’s strong policy and the spread of everyday consumption culture. Samyang, which was the starter of the ramen market, has grown into a large company by forming an image as a “public enterprise” through its advantages of market leader and close “cooperation” relationship with the government. on the contrary, Nongshim, a latecomer, constantly took on the offensive to increase the market share of the ramen market, building a “fresh and popular” public-frindly image distinguished from its comptitor Samyang. The two companies, Samyang and Nongshim, which grew up in different positionis, competed and formed distinctive images in oppositional strategies. In the changing market environment since the 1980s, Nongshim was more suitable than Samyang and the long-time rivalry in the ramen industry ended whtih a triumph of Nongshim.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.