Brand Name: NamKyung

Product/Service Type or Description: Agricultural Irrigation Products

Overview:
Creating and Analyzing Strategies for entry into the U.S. Market

Since 1996, NamKyung has been providing agricultural equipment to Korea.  Identifying the farmers’ need to produce increasing amounts of high-quality products in water-lacking regions and harsh environments, NamKyung introduced drip irrigation equipment for the first time to the Korean market.

With efficiency in water usage and crop output becoming increasingly critical worldwide, NamKyung saw the potential for growth in the U.S. market.  Through an in-depth study, MZI Global Inc.  provided NamKyung with strategic distribution channels, marketing and branding recommendations, feedback from U.S. distributors and wholesalers and strategic recommendations for U.S. market entry.  

Client Objective:

• Needed to assess market demand and assess feasibility of entering U.S. market
• Needed to identify the most appropriate market segments
• Needed distribution methods
• Identified the effect of the global downturn on the irrigation market
• Made adaptations required to succeed in the U.S.

Marketing Challenge:

• Differentiating NamKyung’s products from those that already exist in the U.S. market
• Formation of a network of distributors and buyers
• Establishing a strong brand in a brand loyal industry

MZI Global’s Solution:

• Conducted primary research:
  • On-line survey Business-to-Business: Targeted over 100 drip tape product distributors
  • End-User consumer survey: Gained end-users’ understanding of product
  • One-to-one informal phone interviews to gain an in-depth understanding of market possibilities and review some of the products and opportunities to develop new market channels via partnerships
• Secondary Market Research – Covered available materials from printed reports specific to the irrigation needs in North and South America.
• Strategy and Consideration:
  • Established partnership with irrigation manufacturers’ representatives who would represent NamKyung Drip Tape
  • NamKyung branding adaptation strategy for U.S. customers
  • Created marketing tools adapted to the U.S. market
  • Channel strategy
    • Practical: contact info of possible partners who would sell NamKyung’s product to US companies % based
    • Suggested partnerships with U.S./ California based irrigational manufacturers who do not produce drip tape and use their distribution channels
    • List of irrigational distributors nationwide were personally contacted for future possibilities

MZI Global® Results:

• Provided in-depth industry and market analysis specific to the irrigation and drip tape equipment for assessment of Namkyung’s U.S. market entry feasibility
• Provided the company with invaluable feedback from its potential distributors and end-users
• Created a comprehensive marketing and business plan, providing NamKyung with a strategic roadmap for U.S. market entry
• Created marketing and branding materials for NamKyung’s drip tape that would be able to engage the U.S. market