Glocal Marketing Strategies for Promoting Food Products from Korea in the Russian Market

The question of the importance of penetrating a new market and developing marketing strategies always raises the interest of any company. Currently, many enterprises are striving to enter a new market in order to promote their products, but not everyone knows how to build a path to the success of their business. Entering an unfamiliar market, many companies suffer because of a wrong approach to the market, not taking into account the country's culture, economic level, social status. Also, when entering the international market, the marketing strategies adopted by the company without considering the cultural specifics of the global market limit the further development of the company. In this regard, the solution to this problem is increasing interest in local strategies. As an example, Coca Cola has grown sharply by a global corporation, but the company has managed to build consensus with many countries. The reason was that local factors affecting the company's activities were not applied to the standardized strategy of the company. To overcome this situation, the company began to develop a glocal strategy, which included the cultural specifics of the local market. Since that time, the company continues to provide content containing the local emotionality and culture of each country, while developing a campaign that characterizes the regionality of the local market. Kotler, a global marketing guru, commented, “Good marketing starts with localization. Global companies are aware of this and strive to be global. ” Due to the globalization of business, many Korean companies seek to enter the international market for their survival and profitability. Among emerging markets, the Russian market attracts these companies as a potential option for the development of their activities. But when penetrating the Russian market, not all companies are successful, since it has a number of specific features. Accordingly, current trends in product and brand development require Korean companies to focus on the study of factors affecting the purchase of unfamiliar products, as well as marketing activities on creating an understanding of the value of products, communication and the development of long-term relationships with Russian consumers. In previous theoretical studies, there is a lack of in-depth study of the mechanism by which Korean companies enter the Russian market. Therefore, this study is of great importance for those who find it difficult to build strategies for promoting products, as well as food brands in Russia. Thus, we can say that glocalization is the key to the successful conquest of local consumers, as well as a long-term relationship with them. The relevance of the study is emphasized by the fact that effective ways to manage marketing and customer relations make it possible to successfully position products in a new market and opportunities for further development of company management.