A new direction and business plan for the golf business in Korea : strategies to attract customers to the domestic market

Abstract

The golf industry in South Korea has been flourishing and has maintained high profitability. However, the South Korean market is not adequately prepared for the increasingly globalized world economy and resulting changes in the business environment. There is a need for research to guide the Korean golf industry based on long-term projections of the Korean economy and future market trends. An increasing number of golf customers are traveling abroad to enjoy high quality golf services at more affordable prices. Golf courses in China and Southeast Asia are actively attracting golf tourists by promoting their competitive pricing. The Korean golf industry must identify and promote its competitive advantages to survive in this increasingly competitive environment. The main purpose of this study is to identify various strategies to increase customer demand for Korean golf courses. This paper also illustrates the correlation between economic trends and the golf industry in South Korea. Moreover, a business plan based on the factors that determine the choice of golf clubs, the competitive advantages of South Korean golf clubs, and potential marketing strategies indicate future directions for the Korean golf industry.