신흥국 제품시장의 제도 변화와 다국적기업의 전략적 대응에 관한 연구: 한국의 커피전문점 시장 사례

This study primarily focuses on whether informal institutional changes have influence on MNE and home-grown player in terms of institution-based approach. Under micro institutional view, firstly, we try to understand product market in emerging country in light of competition, consumption and consumer behavior, etc. In particular, the study is to analyze how to micro institutional change impact on indigenous firms in emerging product market. i.e. we posits that informal micro institution or cultural difference – consumption and consumer behavior – makes different impact on the strategic response between MNE and local player in emerging espresso-based drip coffee market. According to the case analysis, MNE is able to enjoy competitive advantage due to product/service quality, global brand power in its early entry. However, as emerging market was emerged, home-grown firm as late-comer has enough time to build strategic ability to overcome cultural difference as a result of successful catch-up. In the end, whether MNE or local competitor succeeds in emerging market depend on how to respond micro institutional change while product market heterogeneity is growing. Therefore, it could be recognized as informal micro institutional change when it comes to emerging market, success or failure between MNE and local firm was dependent upon relative differences of strategic response.