Market Research on Korean Agricultural Products in the Filipino Food Market
We conducted market research on how best to penetrate the Filipino food market and to increase Korean food products' presence in the Philippines. Our tailored solutions navigated the client through the complexities of import regulations, consumer preferences, and distribution networks.
Our client is a government agency that supports the Korean food industry, supervising all food-related market activities to ensure the market competitiveness of Korean food brands. Their major work overseas is to manage and encourage the dissemination and trading of Korean food products.
Our client wished to explore the Filipino market, to identify food-related issues, policies and trends that might impact Korean food exports to the Philippines. Specifically, our client would like to explore the Filipino market in relation to the distribution and consumption patterns, Korean product competitiveness, and import regulations.
HOW WE DID IT
This project was executed in a staged process to explore and evaluate the feasibility and potential of penetrating the Filipino market. The project began with a diagnostic analysis of the current status of the Filipino food import market, product offerings in supermarkets, and the distribution network for imported food products. Additionally, the export performance of Korean products to the Filipino market was also evaluated to provide a comprehensive overview of the food import environment.
Below provides an overview of our project approach:
- Defined research objectives and parameters in relation to the Filipino food import market
- Structured a research plan formulated around a compilation of quantitative and qualitative data
- Gathered data from various sources to evaluate industry landscape and pinpoint potential market gaps in the industy
- Conduted an extensive review of primary and secondary research to assess market competitiveness of Korean food products
- Synthesized gathered data into relevant information and useful insights to formulate strategic plans
- Established practical solutions on forecasting industry developments and surmounting potential obstacles