Global business plan
Setting a factory in Seoul is an opportunity because it is the financial hub in South Korea. According to international benchmarks, it happens to be the sixth most competitive city financially globally. Trends prove that the emerging industries in Seoul are based on electronics or IT, thus, a demand in the food sector is always available. The factory of cheesecake has internationally expanded its boundaries and especially in Asia, where they have realized the enormous potential and gap in the industry.
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Due to the favorable business environment for businesses wishing to set up in the country, competition is bound to be a lot. To maximize on the returns, advertising needs to be conducted aggressively. From existing research, it has been found that South Korea hosts the most internet connected society in the world. The adoption of social media appears at an all time high in the country and advertising should utilize the social media platform to gain new clients and advertise their offerings.
Brown, R., Gutterman, A. S., & Curry, J. E. (2011). A short course in international business plans: Charting a strategy for success in global commerce. Petaluma, Calif: World Trade Press.
Hoover’s handbook of emerging companies 2006. (2006). Austin, Tex: Hoover’s Business Press.