Topic biti’s shoes export process to korea

This final report was made by our team to describe the marketing plan and strategywhen bringing Bitis shoes to the Korean market.. In addition to the knowledge and theory about "Internat

FACULTY OF BUSINESS ADMINISTRATIONINTERNATIONAL MARKETINGCODE: MK302DE01CLASS 0200 _ GROUP 2

5 Nguyễn Quang Khải - 2194450

6 Đinh Hoàng Long - 2196864

FACULTY OF BUSINESS ADMINISTRATIONINTERNATIONAL MARKETINGCODE: MK302DE01CLASS 0200 _ GROUP 2

11 Nguyễn Quang Khải - 2194450

12 Đinh Hoàng Long - 2196864

Professional Instructor : Ms Đặng Trương

Thuỳ Anh 17/08/2022

This final report was made by our team to describe the marketing plan and strategywhen bringing Bitis shoes to the Korean market During the period of making the report, our group met and exchanged many aspects related to the report, applied the knowledge learned and searched a lot of information on the internet to apply to the article this report thereby offers the most practical plans and strategies to minimize all risks when Bitis enters the Bitis market

In addition to the knowledge and theory about "International Marketing" that we learned and cultivated in this short summer, the team also applied the knowledge of some othersubjects such as Marketing basics to SWOT analysis, Biti's customer file segment whenentering the Korean market The Marketing Strategy and IMC subjects helped my team develop a specific marketing and communication plan for Bitis In addition, journals, books, other references, and related documents on the Internet are also collected and implemented by our team into the ideas in the report as secondary data sources

Table of Contents

ABSTRACT 3

ACKNOWLEDGEMENT 5

TEACHER’S COMMENT 6

LIST OF FIGURE 7

DESCRIPTION TABLE 8

A INTRODUCTION 9

B MAIN CONTENT 11

I. INTRODUCE BITI’S 11

II THE MARKET 12

1 Customer in South Korea 12

2 Characteristics of consumer target group 12

3 Consumer preferences and buying habits 13

4 Competition 13

5 Market size and sales estimates 15

III STATEMENT OF PROBLEMS AND OPPORTUNITIES 16

1 PESTEL Analysis 16

2 SWOT Analysis of The Company 28

IV INTERNATIONAL MARKETING OBJECTIVES 30

1 Financial objectives: 30

2 Market Share Objectives 31

IV INTERNATIONAL MARKETING PROGRAM 32

1 Market Segmentation and target market 32

1.1 Demographic segmentation variables 32

1.2 Psychographics segmentation variables 35

2 Marketing Mix 40

Online: 52

Offline: 54

Truth + Motivation + Tension = Insight 55

VI EVALUATION AND CONTROL 58

B CONCLUSION 60

REFERENCE 61

First of all, we would like to express our sincere thanks to Hoa Sen University, for introducing International Marketing into the curriculum In particular, I would like to express my deepest gratitude to Ms Dang Truong Thuy Anh - Lecturer of International Marketing, thank you for accompanying us during the last semester Although the class had to study in the 3rd shift at the beginning of the afternoon, it was quite sleepy, but with her lectures, her funny way of imparting knowledge made us feel more awake, excited, and passionate about learning During the last semester with her valuable knowledge imparted to us, my friends and I have cultivated a lot of useful knowledge such as: how to bring a product to the international market, how to research

international markets, how to implement marketing strategies These are extremely valuable knowledge for those of us who study Marketing and this knowledge will be the luggage for us to work in the future

International Marketing is a very good subject, highly practical through real situations Ensure to provide the necessary knowledge and skills for our students to apply in real life I would like to thank Ms Thuy Anh for imparting all her knowledge to the students However, due to the limited ability to absorb, the knowledge is not broad enough, so sometimes we will not keep up with what she has to say Our team has tried our best to complete the final report this time, but inevitably errors are inevitable Please consider and comment so that we can have a better report later

TEACHER’S COMMENT

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MS ĐẶNG TRƯƠNG THUỲ ANH

LIST OF FIGURE

Figure 1 ATAR 15

Figure 2 Key Financial Metrics 15

Figure 3 GDP Growth 17

Figure 4 Footwear Users in South Korea 18

Figure 5 Export Volume 19

Figure 6 Export Volume 20

Figure 7 Export Ranking 20

Figure 8 Import Volume 21

Figure 9 Import Volume 21

Figure 10 Import Volume 22

Figure 11 Population by Age 32

Figure 12 Income of Korean 33

Figure 13 Customer's Usage 38

Figure 14 South Korean Footwear Market 39

Figure 15 Biti's Hunter Running 41

Figure 16 Biti's Hunter Running 42

Figure 17 Biti's Hunter Running 43

Figure 18 Biti's Hunter Running 44

Figure 19 KakaoPay 51

Figure 20 BC Card 51

Figure 21 Balance Scorecard 59

DESCRIPTION TABLE

Evaluation and control (BalanceScorecard), Marketing MixThạch Nhật Quang 2197508 Statement of problems and 100%

opportunities (PESTEL,SWOT), Marketing Mix

Acknowledgement, Conclusion

Segmentation and target market

objectives, Marketing Mix

A INTRODUCTION

The main goal of making this report is to help our team have a better overview of how to bring a company's products to foreign markets To fulfill the request of Ms Thuy Anh to all groups, our team has selected, researched, and written a report onthe topic "Bitis brings sports shoes to the Korean market" related to the article In general, this is an opportunity for members to improve their teamwork skills, and learn and research the shoe market in Korea

In more detail, our 3-year learning has helped us a lot in this report We analyze the PESTEL model in Korea to get an overview of the business environment that Bitis is about to enter, thereby seeing potential opportunities and risks Analyze the Marketing Mix so that Bitis understands the real needs of Korean customers to satisfy them most optimally, thereby making appropriate marketingprogram plans Study the Balanced Scorecard model to establish, implement, monitor, and measure the results of the proposed strategy, from which you can learn from experience and come up with more effective strategies

To evaluate the effectiveness and fulfillment of our members, our team has set three goals, which are presented below:

• Objective 1: the group members do the homework according to the group's progress

• Objective 2: improve skills in researching, analyzing and searching for information

on the internet about the Korean sports shoe market in detail

• Objective 3: Know how to plan marketing,IMC, PR, market assessment… in themost optimal way

This final report was made by our team to describe the marketing plan and strategywhen bringing Bitis shoes to the Korean market During the period of making the report, our group met and exchanged many aspects related to the report, applied the knowledge learned and searched a lot of information on the internet to apply to

In addition to the knowledge and theory about "International Marketing" that we learned and cultivated in this short summer, the team also applied the knowledge of some othersubjects such as Marketing basics to SWOT analysis, Biti's customer file segment whenentering the Korean market The Marketing Strategy and IMC subjects helped my team develop a specific marketing and communication plan for Bitis In addition, journals, books, other references, and related documents on the Internet are also collected and implemented by our team into the ideas in the report as secondary data sources.

to Vietnam Biti's registered and protected the trademark in Vietnam to penetrate the domestic market, and at the same time selecting the main export market for this period is neighboring China For consumers to rest assured that they do not have to buy or pay a price when buying Biti's products, the company also applies

a "one price" policy which is well received by many customers

Biti's shoe distribution system is spread all over the country from South to North with 7 branch centers, 156 stores, and more than 1500 intermediaries distributing retail products, with the size of the company, it has created jobs jobs for more than 9,000 workers in provinces and cities In China, the world's most populous market, Biti's has set up 4 representative offices with 30 total sales, with more than 300 points of sale Biti'sgradually bring Biti's products to dominate this fertile market In Cambodia, Biti's has an official distributor, Cambo Trading, which distributes Biti's products throughout

Cambodia Besides, Biti's has also been present in major countries such as the UK, France, USA, Japan, Mexico, Russia In addition, Biti's is also the face of international

II THE MARKET

1 Customer in South Korea

Consumer demand for Vietnamese goods is also relatively high On June 8, 2015 in Seoul, Korea, the Ministry of Industry and Trade cooperated with Emart Group to organize the opening of Vietnam Goods Week at the Emart supermarket system Emart's representative said that Vietnamese products such as seafood, coffee, towels, clothes, dining tables and chairs of Vietnam at Emart are favored by Korean

consumers because they are suitable for the tastes of consumers Made in Korea, guaranteed quality and affordable price When the Vietnam - Korea Free Trade Agreement officially takes effect (temporary), it opens up many opportunities for Vietnamese products to be more present in the Korean market (Makinen, 1971)

2 Characteristics of consumer target group

South Korea's population is rapidly aging, with a median age of 44.8 years While just 14.8% of the citizenry is under the age of 18, 67.8% is between the ages of 18 and 64, and 17.5% is over the age of 65 (Data Reportal, 2022) According to the most recent Wor South Korea's population is rapidly aging, with a median age of 44.8 years While just 14.8% of the citizenry is under the age of 18, 67.8% is between the ages of 18 and 64, and 17.5% is over the age of 65 (Data Reportal, 2022) According to the most recent World Bank data, the population is increasing at a 0.1% annual rate In 2021, households will have an estimate of 2.4 people (Kostat) Only 27% of households have one person, 48% have two or three people, 24% have four or five people, and only 1.5% have more than six people (UN, latest data available) The gender ratio is one man to one woman, and urban areas are home to 81.5% of such population (Data Reportal, 2022) A population is focused in the non-mountainous lowlands: the most densely populated province is Gyeonggi, which surrounds Seoul, while the least densely populated province is Gangwon Seoul, Busan, Incheon, Daegu, Daejon, and Gwangju are the major cities The standard of education is quite high In Korea, 89% of adults aged 25 to 64 have completed secondary education, compared to 79% in the rest of the world (OECD, 2020) Furthermore, the population with higher education aged 25-34 is expected to be well almost 70% in 2020, far exceeding the OECD average (45%) Administration and accounting are the most active professions in the labor force, followed by salespeople and

kitchen and restaurant workers Then there are the administrators, office

workers, and farmers (Makinen, 1971)

3 Consumer preferences and buying habits

South Korea is a consumer culture Purchases are made not only to meet basic needs, but also to improve one's image and status The economic slowdown and high level of debt have prompted some Koreans to exercise caution in their spending, even though luxury goods remain fashionable The most popular products are successful brands with visible detailing Consumption is being used to make a point Generally, purchases are made in department stores, shopping malls, and new types of stores (example: food retailers).

Korean consumers are not brand loyal; they are tech-savvy and concerned with brand names Koreans are extremely connected In fact, more than 98% of South Korean households use the internet on a daily basis, and more than 85% of the Korean population owns a smartphone (Data Reportal, 2022) Online shopping has become extremely democratized E-commerce platforms are used by approximately 90% of the country's population, and this figure is expected to rise to 94.4% by 2023 The internet also allows you to look up information about a product before purchasing it in a store Social media platforms are used to research, review, and purchase products Influencersand product testers are influential in consumer choices Consumers are becoming less interested in domestic products, while purchases of foreign goods are increasing (SA, SOUTH KOREA: REACHING THE CONSUMER, 2022)

4 Competition

4.1 Shoopen

SHOOPEN can also be found almost anywhere in major cities SHOOPENshoes are extremely inexpensive This brand also provides a wide variety ofstyles suitable for everyone, from the elderly to children, such as whitesneakers, athletic shoes, leather boots, snow shoes, and so on

4.2 FILA

Fila has very popular sports brand ambassadors who have effectively promoted their brand The innovative use of combining different cloth components to create unique sportswear was a huge success Fila's brand image is very successful because of its motivational designs They have a very good name for their brand logo because it is colorful and easily identifiable The company operates over 100 stores worldwide Since its inception in 1911, the brand has left a strong legacy Fila has expanded into clothing and children's clothing, in addition to shoes

4.3 KOLCA

This company is comparable to the American athletic company Vans Anyway, youngsters and university kids in Korea are currently quite fond of this brand KOLCA's design prioritizes ease of use KOLCA doesn't employ a variety of hues This makes these sneakers ideal for daily wear These sneakers are really trendy and sporty.When compared to other brands like SHOOPEN, KOLCA is not as inexpensive However, the brand is flourishing in Korea, where several young Koreans have turned into devoted patrons Customers can now choose from a wide selection of sneakers and clothing thanks to the brand's ongoing expansion of its product lines

5 Market size and sales estimates

For our Sale estimates, we based on the available market size of 2,700.00 and have the following estimates:

- Total sales (units)

- Total sales revenue

- Gross Margin profit

- Investment Cost: Initial investment and Promotional Spend

Figure 1 ATAR

Figure 2 Key Financial Metrics

III STATEMENT OF PROBLEMS AND

1.1.2 Political climate

Yoon Suk-yeol, who received 48.56 percent of the vote, was voted the victor and will take office as president on March 9th, 2022 Mr Yoon supports market-based strategies for promoting economic growth, and the Korean government would extend its policy support without restriction This will promote the growth of the footwear business.

1.1.3 Political stability

The government is attempting to create the foundation for economic unification in its year plan by resuming inter-Korean collaboration and looking for a single market for Seoul and Pyongyang By 2045, peace and union are to be attained Biti’s will profit more if Seoul and Pyongyang agree to establish a joint market (SA, SOUTH KOREA:

five-ECONOMIC AND POLITICAL OUTLINE, 2022)

diplomatic ties with 191 nations (2019) The political system in South Korea improved in effectiveness, centered on economic growth, and attracted international capital.

1.2 Ecomonics

1.2.1 GDP growth

Even though China's supply chain disruptions and Russia's war on Ukraine drove

up energy prices, South Korea's Gdp increased by 0.7% in the three months to June 2022, up from the 0.6% growth in the prior quarter Both the outcome and the 2.9% yearly increase in the gross domestic product were better than expected by economists (Korea T B., South Korea GDP Growth Rate, 2022)

Figure 3 GDP Growth

1.2.2 Korea trading statistics

Footwear Users in South Korea: The average volume of footwear sold per person in Korea is anticipated to reach 2.9 pairs in 2022 High GDP has an impact on the market today Users are increasing year by year, this is the

advantage for Biti’s to enter this market (Statista, 2022)

Figure 4 Footwear Users in South Korea

Figure 5 Export Volume

During 2020, South Korea exported footwear, gaiters, and similar items worthUS$408.66 million, according to the UN's COMTRADE database on global commerce The data, historical chart, and statistics on South Korea's exports of footwear, gaiters, and related items were last updated in August of 2022 (Korea T.B., South Korea Exports of Footwear, 2022)

2019's top export destinations for footwear from South Korea include China, Vietnam, the United States, Japan, and Indonesia Vietnam ranked 2nd in the top 2019, showing that Vietnam and Korea have a very good footwear economic relationship, this is also

an opportunity for the footwear market of both countries (TrendEconomy, 2022)

Figure 7 Export Ranking

In 2020, Korea will export the following major commodity groups of footwear:69% (71 million US dollars): - Footwear with textile mat uppers and rubber or plastic outer soles (excluding waterproof footwear)

24% (24 million US dollars): Sports footwear, including gym shoes, training shoes, tennis shoes, and basketball shoes with outer soles made of rubber or plastic and textile mat uppers

6.07% (6.24 million US dollars): Footwear with textile mat uppers and outside soles made of leather or composition leather.

1.2.4 Import

Figure 8 Import Volume

From USD 63222 million in May 2022, Korea's imports decreased to USD 60203 million in June

According to the United Nations' COMTRADE database on global commerce, SouthKorea imported footwear and related parts worth US$3.08 billion in 2020

In 2019, the top partner countries from which Korea, Rep Imports Footwear include China, Vietnam, Italy, Indonesia and India (Korea T B., South Korea Exports of Footwear, 2022)

Figure 10 Import Volume

Top trading partners ( import Footwear) of Korea in 2020:

• Vietnam with a share of 44% (468 million US$)

• China with a share of 29% (307 million US$)

• Italy with a share of 11.6% (122 million US$) (WITS, 2022)

• 2020 imports of footwear from Korea will mostly consist of the following commodity groups:

• 58% (610 million US dollars): - Footwear (excluding waterproof) with rubber

or plastic outer soles and textile mat uppers

• 38% (402 million US dollars): - Sports footwear, such as gym shoes, trainingshoes, tennis shoes, and basketball shoes, with outer soles made of rubber orplastic and textile mat uppers

• 3.56% (37 million US dollars): Shoes with textile mat uppers and outside soles made of leather or composition leather

1.2.5 Summary

• According to statistics of the General Department of Vietnam Customs, in

2016 alone - the first year of VKFTA implementation, Vietnam's exports to South Korea increased sharply by nearly 30% compared to 2015

• The South Korean economy slowing growth from 2017 through 2019, negativegrowth in 2020, and recovery in 2021

• Korea always considers Vietnam as a potential export market, especially raw materials for textiles, footwear, leather, and footwear.

• Biti's in will increase job opportunities for Korean people

• Korea is creating all conditions to promote economic development, so Biti's can enter the market during Korea's economic recovery period

1.3 Social Environment

1.3.1 Aesthetic

Korean aesthetic has four areas: pure formality, naturalistic simplicity, symbolic decoration, and playful spontaneity Koreans focus on appearance In addition, the personal style of Korean idols also has a significant impact on the fashion trends of young people It will be a bit difficult for Biti's to satisfied Koreans (Cannon, 2021)

1.3.2 Entertainment

Korea is becoming the new cultural capital of the world with hit bands,

blockbuster movies , rocking the Asian market and becoming global

phenomena In Korea, advertisements for shoes or other categories are

heavily promoted in entertainment products Biti's will hardly have the

opportunity to enter into entertainment products (Romano, 2018)

1.3.3 Religion

Confucianism, Buddhism and Christianity are the main religions Buddhism is the religion in Korea with the most followers and it impacts on Korean lifestyle, culture and art Biti's can quickly adapt to Korean religion Marketers understand

customers and what drives them ((KOIS), 2020)

1.3.4 Language

1.4 Technology

1.4.1 Information System

Shoe production is managed by RFID, and all manufacturing processes are monitored

by sensors that accumulate big data The experiments in this study focused on the roughing robot and cementing robot The information system is quite complex, it needs

a highly qualified MIS team and Bitis manages production and inspection exports more easily (Kyung Kwon Jung; Dong Seol Son; Ki Hwan Eom, 2009)

1.5 Geographical

Topography: South Korea's topography is largely mountainous, with small valleys and

narrow coastal plains So 3 Koreans have about 1 hiker more than once, opportunityfor Bitis to develop sports shoes for walking and climbing (Nemeth., 2020)

Transportation: in South Korea is provided by extensive networks of railways,

highways, bus routes, ferry services and air routes that traverse the country So Biti’s can transport goods through many different routes (Kim J H., 2003)

Weather: South Korea has a temperate climate with four distinct seasons

Winters are usually long, cold and dry Summers are very short, hot, and humid Spring and autumn are pleasant but also short in duration So Biti’s has a variety

of products suitable for Korean weather

Minerals: South Korea is a relatively poor country in terms of resources In terms of

minerals, there are main types such as: Coal, graphite, iron ore Also included:

Zinc, tungsten, lead, gold, silver, molybdenum, copper and limestone

1.6 Legal

1.6.1 Constitution of the country

The Constitution of South Korea was first adopted on July 17, 1948 Constitution was revised nine times The incentive solutions offered by the Government are a major attraction for foreign investors such as tax exemption and reduction, cash financing, etc The Constitution promotes a free market economy by stating that the State must maintain property rights while also promoting the independence and creativity of businesses and individuals in their economic endeavors The Constitution also establishes the State's authority to control and manage economic activity in order to preserve the national economy's balanced and stable growth while simultaneously improving it (Cho, 2004)

1.6.2 Components of business laws

Businesses that want to expand internationally need to grasp the regulations so that their operations run more smoothly and without incidental issues Here are certain laws that enterprises and Bitis should carefully grasp before entering the Korean market The Korean market also has its own laws

1.6.3 Import and export

Customs Regulations: Korea Customs (KCS) is regarded as an organization that uses the most cutting-edge, globally recognized technologies and processes to improve consistency, reduce clearing times, and improve efficiency

‒ Registration, documentation, and clearance requirements: Owners of the products, customs brokers, or companies engaged in customs brokerage can all submit import declarations A bill of lading, price notice, and import declaration must all be included in the import dossier

The Korean Customs is attempting to resolve issues over product categorization in

accordance with the policy of the World Customs Organization in order to help export and import enterprises The Tax Categorization Committee of Korea Customs, which is made up

of authorities from the public and private sectors, shall consult when there is a dispute regarding the classification of a certain item and come to a conclusion together ‒ Customs valuation: Korea's customs valuation regulations are in compliance with the WTO Agreement

on Customs Valuation Imports are priced at CIF.

After the customs declaration is accepted, the pertinent taxes must be paid within

15 days For a maximum of 60 months, the late payment penalty is computed as follows: 3% of the total unpaid tax for the first month; 1.2% of the total unpaid tax for each consecutive month

‒Import documents:

• Certificate of Origin: Only necessary when specified explicitly in the letter of credit or upon importer request.

• Packing slips: Two copies are required, one to be mailed to the

Representative Bank and the other to be attached to the box (usually the bank opening the LC) A complete listing of the goods' contents is attached

‒ Import License: The import permit is active for 12 months The length of time that animport permit is valid can change based on the licensing body and the importationbeing done

1.6.4 Tax policy and tax rates:

• Value Added Tax: 10%

• Corporate income tax: Since January 1, 2002, the corporate income tax rate has been reduced to 1%, from 28% (or 16% in the case of taxable income not exceeding 100 million won) to 27% (or 15% for taxable income not exceeding 100 million won)

• Residence tax (local tax): 10% of corporate or personal income tax

• General land tax or rent or land ownership tax: 0.2% to 0.5% of the land price

‒ Korea requires that the nation of origin be prominently labeled on all commercial goods imported into the country Regulations on labeling are outlined in the Law on QualityManagement of Industrial Products for footwear, leather goods, and textiles

‒Labels of textiles: According to the Industrial Products Quality Management Act ofthe Department of Commerce, Industry and Energy, the label must include the following information:

• Composition of textile materials

• Address and phone number

• The name of the country of origin of the goods

1.6.5 International Trade Agreement

Korea has 18 Free Trade Agreements with ASEAN, Australia, Canada, Central America (Partial), Chile, China, Colombia, European Free Trade Association (Norway, Switzerland, Iceland, and Liechtenstein), European Union, India, New Zealand, Peru, Regional Comprehensive Economic Partnership (RCEP),

Singapore, U.K., U.S Agreements signed between Vietnam and South Korea:

- Aviation Agreement, Trade Agreement (5/1993);

- Agreement on the Avoidance of Taxation 2 times (5/1994);

- Shipping Agreement (4/1995);

- Customs Agreement (3/1995);

- Vietnam - Korea Free Trade Agreement (May 2015) (VKFTA);

Vietnam's exports to Korea climbed significantly by about 30% in 20164the first year theVKFTA was put into effect4compared to 2015, while Korea's exports to Vietnam rose by15% during the same time frame Two years after the Vietnam-Korea FTA went into effect, in 2017, the total bilateral trade between Vietnam and South Korea increased by 41.3% to US$61.5 billion In which import turnover increased by 45.3% to $46.3 billion and export turnover increased by 30% to $14.8 billion (Administration, 2022)

1.6.6 Assessment

The expansion of the market, and the application of incentives for Vietnam's exports will be an opportunity for Vietnamese enterprises to increase their penetration into the Korean market Biti's needs to understand the regulations, and consumer tastes of the people of Korea country, avoid unfortunate violations of legal, safety in consumption for Korean consumers

2 SWOT Analysis of The Company

A well-developed system of distribution channels: Applying the plan to trade centers to promote products while also covering E-commerce channels

Experience on the global market: To progressively establish Biti's products as the dominant force in this prospective cross-border market, Biti's has established 04 representative offices in China, with 30 total sales and more than 300 sales outlets Biti's has an authorized distributor, Cambo Trading Company, to spread its products throughout Cambodia in order to tap into the potential Cambodian market Biti's has shipped goods to 40 different nations, including Italy, France, the United Kingdom, the United States, Russia, Japan, South America, Mexico, and Cambodia Biti's will undoubtedly have a firm grip on the Korean market thanks to its extensive experience in the global industry

One of the key elements to improving the quality of products is that Biti's is one of the few local shoe companies that prioritizes investing in research to develop several products with a variety of designs competitiveness of businesses within the sector As a result, Bitis products can satisfy the market's requirements for design when they join the Korean market

2.2 Weaknesses

In addition to the qualities that contribute to success, Biti's also has flaws that need to be addressed if she is to overcome them and advance

Although the Vietnamese shoe industry currently has a fairly average technological level,

it is heavily reliant on imported machinery for its equipment The ability to invest in andtransmit new technology is dependent on financial resources, and the team of

professionals with in-depth technological expertise is too small to meet the needs ofthe business in terms of development, experience, and negotiation skills This is one

of the factors influencing worker productivity and efficiency in the footwear industry.The majority of the raw materials used in production are imported at high costsfrom other nations, which will have an impact on prices when the raw material market changes

• Weaknesses of the teams of employees:

Biti’s is concerned about the current state of affairs due to the lack of a designteam and market knowledge Despite recent improvements, the company'spersonnel' ability and professionalism have not yet achieved the required level.The corporation must concentrate on strengthening the weak state of its

employees because some of its human resources still lack knowledge and a sense of accountability, in part because of the hiring process Because the beginning was still random and did not match the proper people with the right jobs,each person's area of expertise was not promoted

2.3 Opportunities

Currently, Biti's will have opportunities to succeed in the Korean market, including:

• The preferential policies for business activities, import tax incentives, Vietnam and Korea currently have a great relationship, especially in terms of economics, asevidenced by the numerous agreements the two nations have signed Biti's now has the chance to enter the market

• Trade advertising has started to become more targeted in recent years The entire shoeindustry has engaged in active actions to bolster propaganda, promote Vietnam's shoe industry as a viable producer and exporter of leather and footwear, and to increase awareness of regulations and markets Biti's way of selling has experienced numerous improvements, including the creation of numerous wholesale and retail networks, involvement in distribution channels, and the development of e-commerce platforms This

The comparatively extensive Vietnam-Korea Free Trade Agreement (FTA) shows the two countries' strong commitment to cooperating in areas of shared interest Because of Korea's steadfast commitment to expanding its market, Vietnam's exports will benefit from a variety of new market opportunities Korea liberalized 97.2% of the value of imports specifically.

2.4 Threats

In terms of technology, the caliber of goods and services, and managerial ability, Korea clearly outperforms Vietnam The risk of losing the market, needing to shrink, or perhaps being completely eliminated from the market will be increased

by Biti's slow technological advancement and limited effective managerial capacity.The difficulty in the trend of trade liberalization is that many partners from many nations also participate in the South Korea market, increasing the

multidimensionality of competition and significantly excluding Korea from domestic firms, including those with foreign investment

The current administrative management system in Korea risks becoming

ineffective and falling short of obligations to facilitate transactions or provide public services if innovation is delayed

IV INTERNATIONAL MARKETING OBJECTIVES

1 Financial objectives:

Increase brand awareness:

- Have pricing strategies, continuously improve product quality, designs and have marketing strategies suitable for Korean consumers

- Since then, Biti's products have been available throughout the Korean market

- Building a distribution channel and promoting Biti's products in Korea

=> Built in the minds of customers, Biti's is a high-quality Vietnamese product

Increase revenue:

- 5% increase in total Biti's sales revenue in the first year Increase effectiveness whendealing with customers

- Build systems, customer care and support

- Always listen and solve customer problems to increase service quality in the eyes of consumers

Expanding distribution and reseller networks

- Biti's increases distribution of goods sold in supermarkets and major commercial centers

- Having a nationwide distribution system to help reach more customers, thereby helping the product become more familiar in the minds of Korean consumers

2 Market Share Objectives.

Expanding sneaker market share in Korea

To gain market share, Biti's needs to implement a penetration pricing strategy ->

to increase market share -> attract target customers to familiarize themselves withthe brand and start using the product

The goal of pricing strategy is to offer a low price that makes it easy for theproduct to penetrate the field and entice customers from competitors

Final goal:

- Reached 4.5% market share in the first year

- Reached 5.82% market share for the second year

- Biti's captured a significant market share, creating competition against big players such as MLB, Fila, Nike, Adidas,