For several
times in the recent years I was in direct contact with Koreans trying to sell
them my company’s product and support services. Analyzing the install base as
well as checking the competitors to whom we have lost at past POCs, I have
noticed that the install base is relaying on local vendors, in most cases
familiar only in the local market. Asking around I have learned that Koreans
only buy products from people they can trust.
Korean give as
much importance to the products foreigners try to sell as to the person who is
selling them.
Generally speaking,
selling products involves (in most cases) convincing the customer about the
quality of the product and company who is selling the product, where Koreans put
less weight on that, they need to feel secure with the person they are buying
the product from. They tend to be suspicious in almost any deals and try to verify
that they are dealing with someone who will intervene in their favor in case
something goes wrong with the deal.
Here is a non-high-tech
example, see the two cars below. Both can be spotted on Seoul roads, one in
higher volume than the other.
The one on the
left labeled as Renault Capture while the other one is Samsung QM3. Both cars
are assembled in the same Renault factory in Spain, however the average Korean
will prefer to wait for his 2014 QM3 for some 6 months rather than drive away on
the spot with the same car (that is labeled slightly different).
According to a (Korean)
friend of mine, the local market prefers to purchase “local” brands as they
like to think that the future service that they will get is better. They hesitate
doing business with those who don’t speak their language.
Going back to the
high-tech sales process, it is not a quotation of how much your product is
beast of bread and technology is superior, it is all about the people that behind
this product.
It means that the
Korean prospect will spend a significant amount of time having sincere
conversations with you, their foreign counterparts. They don't want you to
convince them that you impressive install base with important customers. They
want/need you to show them that although you are a foreigner, you want to be
good friends and want to help their business (if you can help them that will add
extra points…).
Golf and tennis are common activities, as well as going together to bar drinking some alcohol, in the name of bonding and building a friendly relationship. In forcing you, the one that looks to penetrate this market to engage in such behavior, you Korean prospect want to make sure that you behaved comfortably but unethically. They want to get to know you on the deepest personal level, and get you to say things and do things that show the real personality.
Golf and tennis are common activities, as well as going together to bar drinking some alcohol, in the name of bonding and building a friendly relationship. In forcing you, the one that looks to penetrate this market to engage in such behavior, you Korean prospect want to make sure that you behaved comfortably but unethically. They want to get to know you on the deepest personal level, and get you to say things and do things that show the real personality.
Korean tend to
view the spoken agreements they had with their partner to be more important
than the signed contracts as they expect their foreign business partner to be
very flexible when they negotiate deals.
