In 1997 the Asian Foreign Currency Crisis hit Korean shores. In its wake, Korean consumers demanded cost-saving solutions which will increase both the use-life and the fuel efficiency their vehicles. Bullsoneshot``s effects include increases in gas mileage as well as cleaner cylinders, intakes and exhaust valves, the product was welcomed by an explosive demand from people driving older cars in an adverse economy. The history of Bullsone can be categorized as two major stages. The First stage is lunching era of "Bullone Shot" following competitor brand. The second stage is extension stage of brand and line based on Bullsone``s positive brand equity. Mr. Hyun Woo Shin, formal CEO of OXY inc. and also formal vice president of OCI (Oriental Chemical Industries) take charge of New CEO of Bullsone. He energetically push the Bullsone``s family brands and got a desirable results. He also setup ambitious goal : reach 100bn KRW in gross sales within 3 years. "Ripping itself free from 30~40 bn KRW sales range in which the company has stagnated in the last 10 years, Bullsone intends to be aggressive enough in marketing to reach 150 bn KRW in sales in 2013, and reach 700 bn KRW by 2018." This is the goal iterated by Bullsone``s top executive team.
Hong, Sung Tai; Son, Young Seok; and Na, Woon Bong
Asia Marketing Journal: Vol. 16
, Article 13.
Available at: https://amj.kma.re.kr/journal/vol16/iss1/13