ADAPTATION OF SOUTH KOREAN LEADING MUSIC COMPANIES' MARKETING STRATEGY IN GLOBALIZATION CASE STUDY IN THAI MARKET

Abstract

Music industry in South Korea has developed the new marketing strategy focusing on the big market in China, Japan, and Thailand. To continue the success, G-L-G’ K-Pop’s Globalization Strategy is introduced as a new marketing strategy. From the past, K-POP has been well-known as a result of the co-operation between government and private sector in exporting the product of culture, especially K-POP music. The leading music company turns its focus to adjusting the Standardization Strategy, which is based on Korean members, to Localization Strategy, which is based on local members. The growing success of Super Junior M, f(x), EX-O M, 2PM, Miss A sets the new standard of marketing strategy. Because of this, the music company applies the diversity of nationality to its marketing strategy, namely G-L-G’ K-Pop’s Globalization Strategy. G-L-G’ K-Pop’s Globalization Strategy stays focus on 1. The diversity of investors 2. The export of K-POP 3. A band with members from multi-nationalities. This results in the growing number of international fan-bases, especially in Thailand. The use of language, personality, and image of the band contribute to the success in penetrating into international markets. For example, Thai companies use GOT and NCT as their representatives for their products, which requires the Korean-based image, such as EST Cola, EST Play, Taokaenoi, Masita, It’s Skin, and Yamaha. From the hypotheses, in the globalized age, it can be concluded that G-L-G’ K-Pop’s Globalization Strategy shows positive impacts on account of the popularity from fan-bases and the co-operation between Thai company and Korean music company, not just Thai members in those bands.