Canada Goose Essay

3564 Words Sep 20th, 2012 15 Pages
Individual Case Study:
Canada Goose: The South Korean Opportunity

Question 1:
The six important factors to consider about South Korea’s culture is their values, norms, religion, education, social mobility, and American influences. South Korea was built up by many core values, however the most important being Confucianism. Confucianism was founded over 2000 years ago in the fifth century BC and was the official ethical system of China (Hill, Rihcardson, & McKaig, 2009). The value of Confucianism was profound in the Korean culture and it still continues to pervade amongst South Korean’s consciousness today. Confucianism shapes the Korean moral system, national laws, and business culture by placing an obligation towards
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As well, South Korea’s demographics are suitable to create overall profits for Canada Goose. There are approximately 17 million people in South Korea that includes early adopters and functional users (Silvertown, 2011). This demographic corresponds to Canada Goose’s target market, thus showing prospect for success. Moreover, South Korea’s climate is concurrent with Canada Goose’s niche market of extreme outerwear. South Korea shows an average temperature of -2.5 degrees Celsius of the coldest month (Silvertown, 2011). This coincides with the need for a high quality, warm parka. Another advantage of entering the South Korean market is to reach larger economies of scale by selling products to more customers. This in turn creates an increase in profits for Canada Goose by expanding into different markets. Also, by entering into another market, the company reduces the risk of over dependence. It is always a benefit to spread your company across different markets to reduce the liability and dependence of failure.

The five disadvantages of entering the South Korean market are the competitors, supply and demand, control of distributers, imitations, and the inherent disadvantage of foreign firms. Competitors are always present when entering into a market, North Face and Montcler are the largest competitors for Canada Goose in the South Korean market. Many

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