Perspectives on the Market Globalization of Korean Herbal Manufacturers: A Company-Based Survey
Table 4
Respondent-cited difficulties that were experienced during preparation for global marketing.
Manufacturers
Company no.
Inexperience in administrative tasks
Low manpower
Low brand power
Limitation of business management
Language problems
Lack of overseas market information
Lack of overseas branches
Difficulties with foreign trade processes
Insufficient funds
Lack of marketing strategies
Difficulties in finding business partners
Ignorance of overseas buyer demands
Other
P value
Dietary supplement manufacturing group
Ginseng product manufacturers
186
20 (11.0)
126 (67.7)
40 (21.5)
32 (17.3)
17 (9.1)
21 (11.3)
19 (10.3)
9 (5.1)
19 (10.4)
23 (12.4)
5 (2.5)
2 (1.1)
0 (0.0)
<0.0001
Herbal drink manufacturers
108
10 (8.9)
25 (23.2)
12 (10.9)
23 (20.9)
10 (9.0)
16 (15.0)
17 (16.2)
6 (5.4)
28 (26.3)
21 (19.4)
22 (20.6)
0 (0.0)
0 (0.0)
Herb extract manufacturers
64
23 (35.6)
31 (48.8)
17 (26.5)
8 (13.2)
0 (0.0)
8 (13.2)
0 (0.0)
0 (0.0)
8 (13.2)
0 (0.0)
0 (0.0)
0 (0.0)
0 (0.0)
Herbal medicine manufacturing group
Traditional herbal medicine manufacturers
111
13 (11.7)
24 (21.4)
14 (12.6)
13 (11.7)
39 (35.1)
0 (0.0)
11 (9.7)
11 (9.7)
0 (0.0)
10 (9.4)
26 (23.4)
14 (12.6)
10 (9.4)
Conventional herbal medicine manufacturers
12
1 (11.2)
0 (0.0)
4 (29.9)
0 (0.0)
0 (0.0)
1 (11.2)
5 (40.3)
0 (0.0)
0 (0.0)
7 (57.5)
0 (0.0)
0 (0.0)
0 (0.0)
Personal care product manufacturing group
Herbal cosmetics manufacturers
65
13 (20.6)
24 (36.2)
6 (8.5)
6 (8.5)
7 (10.3)
10 (15.9)
19 (29.1)
0 (0.0)
6 (8.5)
5 (7.1)
0 (0.0)
6 (8.8)
7 (10.3)
<0.0001
Herbal sanitizer manufacturers
21
0 (0.0)
0 (0.0)
11 (50.0)
0 (0.0)
0 (0.0)
0 (0.0)
0 (0.0)
0 (0.0)
0 (0.0)
11 (50.0)
11 (50.0)
0 (0.0)
0 (0.0)
Note. The questions were answered by companies that had experience with market globalization. The questions allowed for multiple answers. The values are the numbers (percentages) of participants. value using the chi-squared test or Fisher’s exact test for categorical variables; P values with statistical significance are presented in bold.
