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Innovative new Product Development and Development Strategy of Small-sized Food Manufacturing Firms - Case of Yecheon YunHyesuk Sesame Oil -

Hyeonsu Kim,강보현/Bohyeon Kang

Kyungpook National University

Published: January 2014 · Vol. 18, No. 3 · pp. 57-80
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Abstract

Recently, developed domestic economies and high concerns for health have been drawing our attention to healthy dietary life and safe food. In 2007, ‘Yecheon Yun Hyesuk Sesame Oil’ launched its first product emphasizing the main and only ingredient of hand-made sesame oil. In order to supplement unstable ingredients of preoccupying other brands, Yun Hyesuk Sesame Oil developed innovative products that it could considerably consolidate its position in the vegetable oil market. To fulfill customers’ needs for healthy life, it made the best use of its geographical advantage because Yecheon is the major sesame-producing area in Korea. It improved customers’ trust in its products through its online web site as well. Furthermore, it recognized its threats and eventually sublimated them to new opportunity that customers can distinguish its products from those of competitors. The case of Yecheon Yun Hyesuk Sesame Oil shows that the second mover can expand its business to an upper phase and strengthen its position distinctively in a market. This study also shows the future tasks of Yun Hyesuk Sesame Oil for its further improvement.
Keywords: 고급화 전략식용유지류온라인 쇼핑몰중소기업혁신적인 신제품후발 브랜드