Meaning&Purpose:
Market position is measured by unit sold, revenue, distribution coverage, product usage and consumer perceptions. Have a competitive price, good quality are the important factors when you want to improve your market position. Product innovation, increased or targeted distribution are also very important.
Have lower prices may increase the sales volume, good quality can make the consumers who focus on the high-quality product can support the company. New products are very important for every company. People are always curious about the new things, some of them love the new and loathe the old in their life. Therefore, an attractive, unique product can help the company improve their brand impact. Advertising is an essential factor too, it can help people know there is some new products release and attract people to buy the products.
YG Market position:
YG need to know its market position to have a right plan and make right decisions improve the market position. They can attract more potential customers to pay attention to their product through any social media such as television and advertisement. Market position can tell the company how the performance they have, good or not and take the most suitable action.
YG Entertainment is a very popular company. They have high market share and very good international operations. From the research, we know the revenue is 150 million USD in 2012 and Net income is 37.5 million in 2012.
YG Entertainment always the leader in K-pop and it became the first market leader in Korea 2 years ago. It beats the main competitor S.M and JYP Entertainment.
To keep increasing the ranking in Asia market, YG has a very complete and specific training plan. The plan is very strict. The trainee in the company need to get up very early every day and start practicing their skills whole day, sometimes they need to stay up late to have more practices. The process before debut is really hard and they need to wait a long time to debut. The trainees in YG is not easy to debut, for example, Bigbang is the first male group release in YG and the second one is released after 8 years.
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