Elements of Culture for Business Plan
The elements of culture among the Korean people are among the factors to be considered when ascertaining if Disney Stores will perform well in the country. It has been established that Koreans have a high tendency of getting attracted to recognized brands. Disney stores are known globally as a brand meaning that Koreans will be attracted to them. Korean moms also spend a lot of money on their kids. For instance, American-produced books and other products are best sellers in the country. Disney stores are headquartered in the United States. American produced products perform better in the Korea. Hence, the stores are bound to perform well in the country too.
The cultural elements that make up the Korean culture find expression in the country chosen to incorporate the study in different ways. Firstly, the country is among the most populated countries in the world. The country has also been among the highly regarded nations across the globe when it comes down to developments and sustained growth. For the last five years, the nation has experienced an average growth rate above five percent. The economy has been driven by innovation making it attain a total gross domestic product of more than one trillion dollars. The nation now has a per capita income that is over twenty thousand dollars (Riley, 2016). A high amount of disposable income and a well up economy have shaped the culture of Koreans towards being attracted to American produced products. High disposable incomes are the reason why Korean moms spend a lot on their kids. Most of the recognized brands across the globe originate from the United States. Disney stores are involved in the entertainment industry selling products and services that entertain kids. The stores have managed to position themselves as a brand making them attractable to Korean moms who have high disposable incomes to spend on their children.
References
Riley, G. (2016). South Korea - Economic Growth and Development | Economics | tutor2u. Tutor2u.net. Retrieved 20 May 2016, from http://www.tutor2u.net/economics/reference/south-korea-economic-growth-and-development
