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Assessment of the Economic Benefits from U.S. Meat Export Federation(USMEF)'s Marketing Investment in South Korea

Title
Assessment of the Economic Benefits from U.S. Meat Export Federation(USMEF)'s Marketing Investment in South Korea
Author
김보영
Keywords
import beef demand model; Free Trade Agreement (FTA); promotion effects
Issue Date
2015-07
Publisher
Haworth Press
Citation
Journal of Food Products Marketing, v. 23, no. 3, Page. 283-302
Abstract
In 2007, the United States and South Korea agreed for partial access of U.S. beef to South Korea under the Korea–U.S. (KORUS) FTA concession, and started to import sizable U.S. beef to South Korea in 2008 despite some negative sentiments of Korean consumers for U.S. beef due to the safety concerns. From 2011 to 2015, the USMEF is scheduled to invest approximately US$10 million on promotion of U.S. beef in South Korea. Thus, it is important to access effectiveness of USMEF promotional strategies and to justify accountability of its marketing investment in the Korean beef market. The objective of this study is to estimate the economic impact of USMEF marketing investment for beef on U.S. beef performance in South Korea. The study determines the effectiveness of USMEF’s generic beef market development and promotion program in South Korea, by developing an econometric import demand model for U.S. beef and eliciting benefit–cost ratio (BCR) of USMEF’s promotion investment. From this analysis, (1) the relationships between selected uncontrollable and controllable economic variables and the U.S. beef demand in South Korea are assessed; and (2) with BCR simulation analysis, the return on promotion investment (ROI) of USMEF is derived.
URI
http://www.tandfonline.com/doi/full/10.1080/10454446.2014.949978http://hdl.handle.net/20.500.11754/26583
ISSN
1045-4446
DOI
10.1080/10454446.2014.949978
Appears in Collections:
GRADUATE SCHOOL OF BUSINESS[S](경영전문대학원) > BUSINESS ADMINISTRATION(경영학과) > Articles
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