Marketing Article Review
Running head: MARKETING ARTICLE REVIEW
Marketing Article Review
Marketing Article Review According to Kotler and Keller, authors of A Framework for Marketing Managemet, “a niche is a more narrowly defined group within a segment” (2012, p 111). A niche is like discovering the rarest gem in the world, because there is only one of it’s kind and belongs to only one person. In other words a niche spawns specialization. More specifically, “Customers have a distinct set of needs; they will pay a premium fo the firm that best satisfies them; the niche has size, profit, and growth potential; it is unlikely to attract many competitors; and the firm can use specialization to gain economies within the niche” (2012, p 110). This demonstrates why so many companies strive to create, maintain, and secure a niche market. The following article, Leveraging Corporate Success via R&D and Niche Market Strategies: The Case of Shin Rayeon Born Global in Korea, depicts how Nong Shim Co. Ltd became the worlds leading instant noodle company in the globe through research and development alongside niche marketing strategies.
Article Thesis The thesis of the article focuses on Nong Shim Co. Ltd.’s rise to success. The author regards the success attributable to R&D and global marketing strategy. It’s marketing strategy infamously known as, “‘one Korean flavour’ for the entire global market” (Oh, 2011, p 107). The thesis is also concentrated on unraveling the mechanisms of innovation within this organization, in addition to knowledge management. Furthermore, the article attemps to analyze this niche marketing strategy through dissecting the process of developing a strategy such as this while putting it inot practice.
Authors Purpose The thesis of this examination bleeds into it’s purpose. The author is attempting to grasp the story behind this company’s success so that other companies and researchers may know about this growing marketing
Marketing Article Review
Marketing Article Review According to Kotler and Keller, authors of A Framework for Marketing Managemet, “a niche is a more narrowly defined group within a segment” (2012, p 111). A niche is like discovering the rarest gem in the world, because there is only one of it’s kind and belongs to only one person. In other words a niche spawns specialization. More specifically, “Customers have a distinct set of needs; they will pay a premium fo the firm that best satisfies them; the niche has size, profit, and growth potential; it is unlikely to attract many competitors; and the firm can use specialization to gain economies within the niche” (2012, p 110). This demonstrates why so many companies strive to create, maintain, and secure a niche market. The following article, Leveraging Corporate Success via R&D and Niche Market Strategies: The Case of Shin Rayeon Born Global in Korea, depicts how Nong Shim Co. Ltd became the worlds leading instant noodle company in the globe through research and development alongside niche marketing strategies.
Article Thesis The thesis of the article focuses on Nong Shim Co. Ltd.’s rise to success. The author regards the success attributable to R&D and global marketing strategy. It’s marketing strategy infamously known as, “‘one Korean flavour’ for the entire global market” (Oh, 2011, p 107). The thesis is also concentrated on unraveling the mechanisms of innovation within this organization, in addition to knowledge management. Furthermore, the article attemps to analyze this niche marketing strategy through dissecting the process of developing a strategy such as this while putting it inot practice.
Authors Purpose The thesis of this examination bleeds into it’s purpose. The author is attempting to grasp the story behind this company’s success so that other companies and researchers may know about this growing marketing
References: Kotler, P. & Keller, K. L. (2012). A framework for marketing management (5th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall. ISBN-13: 9780132539302 Oh, I. (2011). Leveraging corporate success via R&D and niche market strategies: The case of shin ramyeon born global in korea. International Journal Of Technology Management & Sustainable Development, 10(2), 107-123.