DOI QR코드

DOI QR Code

Globalizing the MEDIHEAL Brand: L&P Cosmetic's Collaboration with BTS

  • Received : 2019.06.14
  • Accepted : 2019.07.16
  • Published : 2019.07.31

Abstract

L&P Cosmetic, the leading company selling mask packs on the global market, produces MEDIHEAL, the number-one best-selling mask pack brand in Korea and the best-selling imported mask pack brand in China (2017). The company pioneered the premium market for mask packs through its launch of premium mask packs in 2009, and has subsequently achieved outstanding success in Korea and China. Three key factors have contributed to the success of L&P Cosmetic: product leadership with R&D capability, strategic marketing programs tailored for each market segment, and operational excellence focusing on strategic outsourcing and partnership management. Nonetheless, globalization beyond the Chinese market remains a major challenge for the potential of L&P Cosmetic. The company has embarked upon a collaboration with BTS, the world's top K-pop stars, as an optimally effective way to achieve its goals and a highly efficient strategy to manage the risks of globalization. The global branding collaboration project with BTS has succeeded in generating primary demand for mask packs on the global market, spreading brand awareness of MEDIHEAL, and establishing global channel networks. L&P Cosmetic will continue to grow worldwide on the basis of this outstanding performance.

Keywords

Acknowledgement

This study was partially supported by Dongguk University Research Grant and prepared by Sujin Kim and Hyunsuk Kim of L&P Cosmetic.

References

  1. Bartsch, Fiabiam, Petra Riefler and Adamantios Diamantopoulas(2016), "A Taxnamy and review of positive consumer dispositions toward foreign countries and globalization." Journal of international Marketing, 24(1), 82-110.
  2. Bengtsson, Anders, Fleura Bardhi and Meera Venkatraman, (2010), "How global brands travel with consumers," International Marketing Review, 27(5), 519-40.
  3. Chen, steven (2016), "Cultural technology." International Marketing Review, 33(1), 25-50.
  4. Hsieh, Ming(2002), "Identifying brand image dimensionality and measuring the degree of brand globalization: Across-national study." Journal of international Marketing, 10(2), 46-47
  5. Hassan, Salah and Stephen Craft (2012), "Examining world market segmentation and brand positioning strategic," Journal of Consumer Marketing, 29(5), 344-56.
  6. Jung, Jiyoung and Sang Yong Kim (2015), "DBR case study: L&P Cosmetic's maskpack marketing strategy," Dong A Business Review, 184(1), 27-41.
  7. L&P Cosmetic (2019), Internal data.
  8. Matanda, Tandadzo and Michael T. Ewing (2011), "The process of global brand strategy development and regional implementation," International Journal of Research in Marketing, 29(2), 5-12.
  9. Treacy, Michael and Fred Wiersema, The Discipline of Market Leaders, 1993.