Determine your target market for Korean red ginseng extract from CheongKwanJang: size, location, etc. in the...

Determine your target market for Korean red ginseng extract from CheongKwanJang: size, location, etc. in the U.S. Based on your research, who will you be targeting. Be as specific as possible and support your findings…..(children, Southeast, certain states, age, income, occupation, etc.). Guideline

Expert Solution

Because there is no comprehensive statistical data about the ginseng production and the market size in the world, companies interested in ginseng business and marketing have difficulty entering ginseng market and expanding business.

In this situation, we would like to introduce ginseng market trend in South Korea which has the world’s largest distribution and estimate the world ginseng market size based on the best guess of ginseng production in countries such as China, Korea, Canada, and the US. We are afraid to say that there might be some discrepancies between the data from the report and the real data. But this report can be useful in overviewing the present and the future of ginseng industry schematically

Rahul Sunny answered 2 years ago

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