KOREASCHOLAR

This study investigates the role of regionalisation in the endeavours of emerging economies to connect successfully to the global world economy. In the first part of the research, it summarizes connecting theories, using a multidisciplinary approach; International Relations, International Economics, Sociology (Granovetter, 1990; Li, 2003; Das, 2005; Yaquing, 2011) to discuss relationship-based versus rule-based governance as major characteristics of the ASEAN business environment. Descriptive statistical analysis is applied to identify the achievements of ASEAN-6 countries within global trade and FDI in 2000-2012. We suggest that the association examined in a broader context as ASEAN+3 (APT) did contribute to the greater integratedness of her member countries; and they have created a regional image with a common market, production base and exporting platform. Such achievements, however, can be in great part attributed to the micro-level activities of international and regional firms. In the second part of the study, marketing strategies of global companies are analysed based on empirical results in the literature to identify how they act in the ASEAN business environment when entering or expanding their presence. Two major manufacturing industries of the region, the household electrical appliances (characterised by fierce competition of Japanese and Korean manufacturers) and the Japanese dominated automobile industries are highlighted including the marketing mix elements of major market players. The Korean success can be attributed more to the relationship element, than the price factor. Upgrading of the maintenance service, sales and distribution network responding to local needs has been in focus. Rebuilding, restructuring of the entire ASEAN production/supply networks of corporations are expected to prepare for the ASEAN Economic Community 2015 environment. Localised products are designed for regional demand to obtain a competitive edge (Kabe, Ushiyama & Yamada, 2012). The first mover advantage of the Japanese car manufacturers has been kept since the 50’s through continuous product innovation with accelerated efforts into designing and manufacturing regional brands with cautious price-setting in recent years. There are important differences in marketing strategy of ASEAN-based companies investing abroad depending on the economic development level of their home country. Singaporean companies rely more on differentiation benefits, technology, product innovation, apply greater ODM/OBM (own design manufacturing, own brand manufacturing) than Malaysian ones (Sim, 2012). Movements in trade and FDI can also be observed in the evolving Asia-Europe interconnectedness with considerable scope for expansion. Our research identified promising examples of internationalizing SMEs beside the global players, which can be a further route to bridge Asia to the world. In order to investigate the role of the cultures (Hofstede, 2005), SMEs have been selected with presence both in the ASEAN and Visegrad four, the so called V4 countries (Hungary, Slovakia, Czech Republic, Poland) for case studies. The still very few investment cases of the V4 countries in Southeast-Asia base their marketing strategy on product or service innovation using strongly relationship elements. The research intends to shed light on the marketing strategies of ASEAN and EU-based start-up and mid-size companies when they invest in each others’ region.

• Aniko Magashazi(Corvinus University of Budapest)