EcoSoap produces natural shampoo and conditioner made from ingredients found in Canadian trees and plants. Their goal is to provide these nutrient-rich hair products internationally. Specifically, they plan to export their products to South Korea, where daily hair care is important culturally. EcoSoap analyzes South Korea as a potential market, noting features like its large cities, trade partnerships, and cultural emphasis on respect and etiquette.

1. EcoSoap“providing natural and nutrient-enriched products to consumers who desire strong and natural hair.”

2. Company Profile Our company, EcoSoap is focused on providing consumers with the essential ingredients to every day care with high-quality products made from Canada. International focus is important for our company, because first of all, it is easy to export our products internationally. Shampoo, conditioner, gels, wax and cream are essential to one’s daily hair care. People generally interpret Canada as a clean country with lots of natural resources and a high standard of living.

3. Goals Our company has many goals, short term and long term. Some of the short term goals are to create more space and efficiency within our factories and stores and provide consumers with better quality products. Our long term goals are to provide shampoo and conditioner products internationally, increase sales profit and to generally target our products to people of all ages.

4. Product Line/InformationShampoo and conditioner are our two main product types. These two are based on natural ingredients found within Canadian trees and plants. These trees produce a special amino acid that is nutrient enriched and key to building strong, natural hair. Our Canadian shampoos are very diversified, giving a large selection of Canada-based products to our customers. Some of the women’s products includes scents such as oak, cherry, pine, maple and evergreen. Our men’s products include Canadian animals such as the moose, beaver and blue jay.

5. Competitive AdvantageEcoSoap products provide consumers with a diversity of products, for any hair types. The quantity in which we provide consumers with natural shampoo and conditioner is much larger than any other companies. We also provide them with the guarantee that if the product is defective or unsatisfactory, we will ship another free supply of the product itself.

6. Market Analysis The product will be shipped to South Korea, where daily hair treatment is a must for any individual in the society. The capital of the country is Seoul, which is the second largest metropolitan city in the world and is also a major global city. The country is a presidential republic consisting of 16 administrative divisions and a developed country with a high standard of living. The country is export-driven specializing in electronics, automobiles, ships, machinery, petrochemicals and robotics. It is a member of the WTO, OECD, G-20 and the United Nations.

7. Cultural and Social AnalysisWhen meeting business consultants, respect and etiquette is mandatory in the Korean culture. Greetings should be made with the shaking of hands and a bow, and with the Korean way of saying, “Pleased to meet/acquaint you.”South Koreans prefer to do business with people whom they already have a good connection with. It is crucial to be introduced by a third party. Individuals who have encrypted trust and respect into themselves will work well with other parties. Sensitivity is very important in the Korean society and at no given time is it okay to insult or criticize someone in front of others.

8. Geography South Korea is located in East Asia, on the Southern half of the Korean peninsula. It is mostly surrounded by water and has 2413 km of coast along three seas. They have a temperature climate with four distinct seasons as the movement of air masses from the Asian continent exerts greater influence on South Korea's weather than does air movement from the Pacific Ocean. Agriculture sustainability is satisfactory with the country’s precipitation level

9. Economic Conditions and Legal FactorsSouth Korea is impacted by its changing economic conditions from its labour movement and industrial relations by its trade union system and collective bargaining practices. The political factors influencing trade with Korea are transportation and employee related laws. The shipment will arrive at Korea by ship, as necessary trading visas will be required for those who are not Korean citizens.

10. Potential Clients The type of customer located in South Korea who is best suited for our products are the average South Korean family. There are no restrictions to our product, as the scents and quality of the product is good for people from any age. We have a diversity of shampoos and conditioners which are targeted to women, men and children. However, our hair moulding products generally target the younger audience in Korean culture.

11. Projected Demand and Estimated SaleThe number of shampoo containers that would be demanded annually would be a little over 400,000. The population of Korea is close to 50 million people. Our shampoo and conditioner products will average 4,500 won a large bottle, which is roughly 5 Canadian dollars. If we sell 400,000 units and 12 bottles are inside a unit, we will make approximately, 24 million dollars Canadian after the first year. We will take up 12% of the South Korean market after the first year.

12. Marketing StrategyWe will import our shampoos into the market first, before advertising, targeting largely populated cities such as Busan and Seoul. Then after our products are known throughout the market, we will introduce our newly developed scents, targeted to different people and age groups. Our shampoo will generally move as the different trends in the media does as well.

13. Competition ReactionThe expected reaction of the competitors will be dramatic, as they will try and create innovations like our Canadian company, offering multi-vitamin enriched products. However, the necessary ingredients needed to make our shampoo reside within Canadian trees as they will require a Canadian business located within highly-populated forestry areas such as Alberta and Ontario. However, since we are manufacturing the products, we will sell it to consumers for a better price.

14. International RegulationsSouth Korea is part of the UN, WTO, G20 and the OECD. Trade restrictions with South Korea are very slim. They are a country very eager on exporting and importing with different countries

15. Potential Risk and Solution The world is constantly driven by new and innovative ideas. If a company manages to gain a competitive advantage of EcoSoap, we will invest more into our Research and Development department to create new methods to enrich hair. Overall, we are continuing to invest into enhancing product quality and style.

16. Product Demo