Table of contents: - Consumer preferences - Inappropriate gifts - A deeper dive - The ITAP advantage: Consumer needs and motivations

1. ITAP Consumer Insights: South KoreaITAP Consumer Insights: South Korea
Gifting and Recognition
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1© 2014 ITAP International, Inc. All Rights Reserved.

2. Table of ContentsTable of Contents
Consumer PreferencesConsumer Preferences
Inappropriate Giftspp p
A Deeper Divep
The ITAP Advantage: Consumer
Needs and MotivationsNeeds and Motivations
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3. Consumer Preferences:
Generational Differences
K d d t i ti d l f• Koreans are proud and patriotic, and people prefer
domestic brands such as Samsung and LG which
provide very good customer service.
• But when it comes to watches…
…young people appreciate NIXON, ALIVE East
Tokyo, Swatch and VESTAL watches. Korean watch
brands are not highly regarded.brands are not highly regarded.
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4. Inappropriate GiftsInappropriate Gifts
• The number 4 is considered unlucky and has they
connotation of death. Sets of four are inappropriate.
• Meat and fish should not be given to someg
practitioners of Buddhism.
• Liquor should not be given to some Christians. Toq g
avoid this problem, people may be asked about their
religious affiliation. This question is not considered
awkward or impoliteawkward or impolite.
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5. Deeper Dive: Gifts and Rites of PassageDeeper Dive: Gifts and Rites of Passage
• Birthday: Some people celebrate their birthday in ay y
restaurant. They sit down for a meal or share drinks
during happy hour.
• Weddings: People attending a wedding ceremony• Weddings: People attending a wedding ceremony
offer money as a gift.
• New Baby: When the baby is one-year old, he or shey y y
is given a ring made of pure gold.
• Funerals: Friends and family make a call of
condolence and contribute money to aid in costs ofcondolence and contribute money to aid in costs of
the funeral. The money is given in a white envelope
that has a Chinese character on it that signifies
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condolences.

6. A Deeper Dive: Gift CardsA Deeper Dive: Gift Cards
P l lik i i ift d ( h )• People like receiving gift cards (or vouchers).
Department stores that provide gift vouchers include:
– Sinsekye
– Lotte
– Emart
• Gift vouchers for restaurants are a good gift, and these
are issued by Korean restaurants that are owned by
Hilton, Lotte, and Sheraton, as well as international
restaurants such as Outback and Bennigan’s.
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7. Snapshot of South Korea’s Cultural
Marieke de Mooij
p
Orientations
applied Hofstede’s
framework to the study
of consumer preferences.
ITAP’s Culture in the
Workplacep
Questionnaire™ (or
CWQ) collects data that
gives insight intog g
consumer preferences
across cultures.
©2014 ITAP International, Inc. All Rights Reserved.
Drawn from Geert Hofstede’s
research the image above
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7© 2014 ITAP International, Inc. All Rights Reserved.
research, the image above
depicts the country score for
South Korea.

8. Contact ITAP to
• Access global consumer segments
Contact ITAP to…
Access global consumer segments
through ITAP’s global network.
• Gain insight into the cultural values that• Gain insight into the cultural values that
inform consumer behavior.
M k i f d d i i b t• Make informed decisions about
extension and adaptation in global
l ti i d t l ti dlocations: price, product, location, and
promotion.
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9. Contact me for Q & A
Catherine Mercer Bing
Contact me for Q & A
CEO, ITAP International, Inc.
cbing@itapintl.com
ITAP International
353 Nassau Street, First Floor
Princeton, NJ 08540 USA
(W) 1.215.860.5640
(M) 1 609 937 1557(M) 1.609.937.1557
http://www.itapintl.com
…thank you…
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9© 2014 ITAP International, Inc. All Rights Reserved.