Korean dental equipment company’s victory against Goliath from overseas.
Korean dental equipment company’s victory against Goliath from overseas.
Playing aggressive marketing during the leading exhibition in Germany
Korean dental equipment companies participating in IDS 2009, the largest dental equipment exhibition drew serious attention with very aggressive marketing.
According to the exhibition managing agency, the booth space occupied by Korean companies is 5th largest after Germany, Italia, USA and Swiss during IDS 2009. Considering 2% market share and 10th in country ranking by “Made in Korea” in the world of medical equipment market, it’s very aggressive level of participation by all means.
IDS is a biannual dental and medical equipment exhibition displaying the latest product offering in dentistry (dental equipment, dental supplies and consumables, pharmaceutical and implant) from 1,750 participants from over 55 countries. This year is 33rd event and mover than 1,100 new technology, products and upgrades are to be displayed.
Domestic companies (VATECH 878.5㎡, OSSTEM Implant 550㎡) plan to utilize the large booth size at the event to attract attention of the participants around the world to improve the image of “Made in Korea” which lag significantly behind the one from Germany, Finand and US (Sirona 640㎡, Planmeca 480㎡
At the same time, the event is thought of as the stepping stone to the direct exportation targeting 100,000 visitors, dental medical dealers, dentists, dental institution manager, technicians and student from 149 countries.
Chang Joon Ro, CEO of VATECH stated “the company’s penetration has been about 90% of the domestic dental CT market and it was imperative to occupy the largest booth at IDS to reinforce the company’s brand recognition to penetrate overseas markets.” “So far, our sales effort has been focused on Germany and Japan. We reached No. 1sales in the dental 3D CT market in Germany and we plan to do the same in the USA and other oversea markets though this event.”
Kyung Rae Lee, Director of European Operation for OSSTEM Implant stated that due to the unique business characteristics of a permanent implant, it was important to instill the belief among potential users regarding the company’s long term stability through a large booth compared to competitors from Germany and the US who are cutting back on the marketing expense. Our competitiveness lies on an aggressive marketing and kind service based on the tradition of the East.
The aggressive marketing strategy of Korean companies was successful and attracted the attention of foreigners whereas other companies scaled back the event expense to the minimum due to the economic down turn.
The bold challenge of Korean dental equipment companies and its fast product development cycles in spite of the weak brand power was most impressive, according to a representative from Sirona, German dental CT and diagnostic equipment company