Buoyed by the success of Kpop music and K -play television shows in Asian nations, Jay Lee, Chairman of the South Korean conglomerate CJ Group, considered that the time was ripe for taking Korean cultural content to the West.
As an embedded segment of their considerations, the executives were anticipated where a potential 2013 convention ought to be held to contemplate, which target consumers to concentrate on, just how to price tickets which artists to invite and the best way to draw more patrons. As the KCON 2012 resulted in lost money, withering strong turnout, it was far from clear whether to repeat the event and, if that's the case, whether its scale ought to be enlarged beyond 2012's $1.1 million budget. With CJ lately opening a chain of mid-marketplace Korean food restaurants in the Los Angeles region called Bibigo, the meeting would likewise touch on the eatery's U.S. increase strategies and how they might be linked to KCON. More generally, the executives needed to wrestle with the inquiry of whether Americans would ever really embrace Hallyu, the Korean Wave, beyond one off success stories like PSY's "Gangnam Style".
And even if the executives considered so, was KCON the right vehicle to make it happen, or was the occasion only a waste of the business's time and cash? Other CJ executives, and CJ Group's Vice Chairman, Miky Lee must review the results of KCON 2012, the company's first Korean pop-culture convention, on whether to hold a similar occasion in 2013, and also make a recommendation to the Chairman. The executives were expected where a potential 2013 convention ought to be held to contemplate, which target consumers to concentrate on, how to price tickets, which artists to invite and how to draw more sponsors. With KCON 2012 losing his money, it was cloudy whether to repeat the event and, if so, what budget to allocate.
PUBLICATION DATE: January 09, 2015 PRODUCT #: 515015-PDF-ENG
This is just an excerpt. This case is about SALES & MARKETING
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