Lindt chocolate goes to South Korea Essay Example | Topics and Well Written Essays - 2750 words - 1

Lindt chocolate goes to South Korea - Essay Example hat direct the flow of a company’s goods and services to consumers and users of more than one nation for a profit†(Ghauri, and Cateora, 2005, p.8). Domestic market is almost saturated for many companies. Therefore, internationalization of business is inevitable for such companies. Hollensen (2008) pointed out that â€Å"international expansion helps a company to; explore new and potentially more profitable markets, increase competitiveness, and facilitates access to new product ideas, manufacturing innovations and latest technology† (p.5). In short, it is almost impossible for major companies to limit their activities in one country alone and stay competitive. International marketing and cross cultural businesses are getting popularity because of the above awareness. Established in 1845, in Switzerland, and operating in more than 100 countries, Lindt & Sprà ¼ngli is believed to be the leader in the chocolate manufacturing industry. â€Å"During more than 160 years of Lindt & Sprà ¼nglis existence, it has become known as one of the most innovative and creative companies making premium chocolate, with six production sites in Europe, two in the USA and distribution and sales companies on four continents† (The Lindt & Sprà ¼ngli Group, n.d.). The market of premium quality Chocolates is growing as time goes on. People of all cultures, including children and adults, are interested in tasting chocolates. As a result of that, Lindt has huge possibilities in overseas markets. Because of the huge brand value and reputation, Lindt can enter any market without an introduction. South Korea is a country which is developing rapidly at present along with India and China. Lindt has already established business units in China. However, they do not have business units in South Korea, India and Pakistan. This paper analyses the business opportunities for Lindt in South Korea. South Korea is the leader in global electronics and shipbuilding industries. Samsung, LG Hyundai and Daewoo