The Future of LOTTE Confectionery
The Future of LOTTE Confectionery is a practice on the brand/corporate analysis through defining brand attributes and planning 5-year, 10-year, and 15-year scenarios in order for the company to be prepared for the future.
This page focuses on the 5-year scenario planning.
For more information, please view the process book at the end.
Individual Project
Role: Scenario planning, Editorial design
Tools: Adobe Illustrator, InDesign, iMovie
Duration: 10 Weeks (09.2020 - 11.2020)
Introduction
LOTTE Confectionery is a confectionery company headquartered in Seoul, South Korea. It initially began its operation as a chewing gum company located in Japan. After the normalization of diplomatic relations between Korea and Japan in 1965, LOTTE Confectionery established its new headquarter in Korea and made its first investment in 1967.
The company has contributed to the development and advancement of the food industry in Korea. Its numerous products - gum, sweets, and snacks - have been consumed and beloved by people of all ages. The business has continuously expanded its operation to the international market to increase its brand exposure to potential overseas consumers. As of now, its products are distributed in 70 countries throughout the world.
Challenge Question
How might LOTTE Confectionery maintain its brand competitiveness in the rising ‘healthy eating market’ and continuously be beloved by both local and overseas consumers?
Brand Attributes
To understand the company better in-depth, brand attributes for both rational and emotional aspects were developed. These became the basis for scenario planning.
Driving Forces
A list of driving forces in which they had the potential to happen within the next five years was developed based on 5 categories - Social, Technological, Economic, Environmental, and Political.
Each force was based on information from secondary research including buzz reports, journals, and online articles. One “black swan”, an unexpected incident that is vulnerable to avoid was also included within the driving forces.
2X2 Matrix
The driving forces were put onto the 2X2 matrix with the x-axis measuring the certainty and the y-axis measuring the level of significance.
The ones located at the upper right quadrant were to be considered for further development for the scenario planning.
Cause & Effect
The driving forces from the upper right quadrant of the 2X2 matrix were considered as the causes for a plausible 5-year scenario.
Under each cause, effects that may be triggered from the cause were narrated and were also categorized by the STEEP factors.
Plot Direction & Visual Rhetoric
Based on the 2X2 matrix and cause & effect analysis, a plot for the 5-year scenario was brainstormed. Moreover, chapter titles and rhetorical images for each phase of the plot were added to better the comprehension of the scenario.
Scenario Logic
Based on the two STEEP categories that were highlighted in the previous 2X2 matrix, I created another 2X2 chart to explain the scenario logic.
As the scenario planning is to be prepared for the worst situation, variables for both axes were placed accordingly, and the right upper quadrant was the section where my scenario was based on. Each quadrant was themed with a title and representative image.
Scenario Narrative
The full scenario was narrated based on the previous analyses and plotting. For a better understanding of the narrative, a video that explains and visualizes each plotting stage was also created.
Implications & Responses
The final stage concluded with providing implications and responses for the narrated scenario. This would include comments as well as suggestions the brand or corporate may take in to be prepared for the near future.
Appendix
The process book below contains details and scenarios for all 5, 10, and 15-years. Please view it in full screen for better legibility.