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Intro
Etude Home is a Korean cosmetic brand name with a particular focus on enjoyable makeup items offers creative and unique items characterized by spectacular colours and the updated trends. The brand was founded in 1966 and included by Amore Pacific in 1990. Etude's name was motivated by Polish Composer Frederic Chopin's Research studies for the piano. Their mission is to improve girls through lovely items and friendly therapy, therefore, their products are more targeted towards the youth market.
Etude House Singapore, had its grand opening in Singapore in June 2009. Over the last few years, the Korean wave, namely Hallyu, has gone into and became rather popular here in Singapore, and Etude home itself being a Korean brand name, uses Korean pop stars to market their products, bring in the masses of Hallyu fans.
The business makes use of on the couple of elements of Microenvironmental forces and Macroenvironmental forces and utilizes them to market their products to the market in Singapore. I will be checking out the few forces they are utilizing to do so.
Macroenvironmental Forces
The macroenvironment consists of bigger societal forces that affect the microenvironment. 2 of the potential forces that impacts the marketing of Etude Home would be the marketplace's Cultural and Group forces.
Cultural
http://www.blackwellreference.com/public/tocnode?id=g9781405131995_yr2012_chunk_g978140513199516_ss5-1 Korean popular culture does not have any religion or race connected to it, therefore, it attract the majority of the Singapore market's secondary beliefs.
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Korean Popular culture, or Hallyu, has actually made its way into Singapore and ended up being rather popular over the past 3 years.
Young person are affected by Korean culture through Korean dramas and music.
With reference to the above source, it cites that the strong Korean culture has made its way through the world, including Singapore, with its blockbuster movies, television programmes, its fashion as well as its music. Therefore, with these influence, Singapore becomes a potential location to market Etude house’s products, using the influence of Korean pop stars like the boy band Shinee, and Sandara Park from the popular girl band 2ne1, attracting the masses of young female adults mainly, to purchase their cosmetics.
http://blog.korea.net/?p=10610
The above source describes how the Korean stars look so natural and beautiful onscreen and links it to the usage of products from Etude House, this way, they are able to influence their target market on trying out their products so they can look beautiful and natural too.
Demographic
As Etude House’s main target audience are female young adults, Singapore would deem to be a good location to market themselves. As the demographics of Singapore suggests, from http://www.indexmundi.com/singapore/demographics_profile.html, there is a large percentage of population aged 15 – 64, and out of these, more than half of them are females. This statistic greatly suits the target market of Etude House, therefore they are able to more effectively market their products to the needs of our population demographics.
Microenvironmental Forces
The Microenvironment consists of the actors and forces outside the marketing that affect marketing management’s ability to build and maintain successful relationships with target customers. One of the forces that affects Etude House greatly is the customers.
Customers
Since Etude house originates from Korea and it has branched out into many parts of the world, including Singapore, it greatly relies on the consumer
Innovative and Playful: Introducing Korea's Etude Home Cosmetics. (2016, Dec 03). Retrieved from https://studymoose.com/etude-house-essay
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