다국적 창고형 할인점의 한국 시장 진출과 성장 전략: 코스트코 홀세일(Costco Wholesale) 사례를 중심으로
The Entry and Growth Strategy of Multinational Retail Warehouse in Korea Market: The Case of Costco Wholesale
The purpose of this study is to comprehensively analyze the relationship between localization and standardization and the consistency of a firm's unique business model and strategy implementation through Costco Wholesale. Costco Wholesale is a global retailer with membership-based warehouse club operations, with its headquarters in the United States and opened its first store in Korea in 1994. Costco's unique ways of operating include: paid membership policy, bulk packaging, and imported goods in its product mix. Moreover, it aligns its businesses with the selection and focus strategy to achieve overall cost-savings. This strategy applies equally to all markets around the world and this standardization strategy is working as a competitive advantage for Costco. This study attempted a qualitative approach to what was the success factor of Costco in the Korea retail market and there has not been any study on retailers with unique business model like Costco. Surprisingly Costco wholesales in Korea had been in deficit for 10 years since entering the Korean market, however, it has have a explosive growth since 2005. The study analyzed the case of Costco in Korea using a contextual perspective that links a strategic position with the degree of local market globalization. As a result, it came up with two propositions that a firm's competitive advantage is needed when entering a foreign market, but a competitive advantage can vary depending on the environment of the local market and the degree of globalization, even a firm has a strong competitive advantage. Thus, the decision to localization-standardization is determined in the circumstances in which the source of the competitive advantage is tailored to the market environment.
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