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The Impact of BTS to the Economy - Coggle Diagram
The Impact of BTS to the Economy
BTS
world-famous South Korean boy band with seven members: Kim Seok Jin (Jin), Min Yoon Gi (Suga), Jung Ho Seok (J-hope), Kim Nam Joon (Rap Monster), Park Jimin (Jimin), Kim Tae Hyung (V), and Jeon Jeong-Guk (Jungkook
one of the most successful bands
fan base: ARMY
BTS Fame
ARMY supports BTS, not because it is a K-pop band but because their music carries meaningful and positive messages to their followers.
More importantly, she argues that BTS has all the minority elements such as non-English speaking, Asian, and boy band. In this regard, people who claim to support BTS and listen to their music have experienced discrimination from their peers for enjoying a different musical taste.
BTS Universe and the band’s distinctive style could have been maintained over the course of different trilogies.
For example, the Japanese versions of BTS’s music videos are based on the same plot lines as in the original versions, but they feature slightly different items; such close attention to detail encourages BTS fans to theorize more deeply the possible storylines within the BTS Universe.
TS has also been able to diversify their music style and genre through active international collaboration with well-established artists. This has helped BTS to appeal to the fandoms of these artists as well which has significantly increased its international reputation of BTS.
Impact on Korea's Economy
Other than that, South Korea has been giving more efforts to become the world’s leading exporter of popular culture and it is being helped by the rapid development of K-entertainment around the world.
For example a bus stop in Hyangho Beach was named an iconic travel destination after BTS used the set for their cover album in “You Never Walk Alone” in 2017
Korean Wave
This phenomenon also unexpectedly raised and significantly infiltrated in the neighboring Asian countries in the years 2000 through 2002,
This phenomenon also unexpectedly raised and significantly infiltrated in the neighboring Asian countries in the years 2000 through 2002,
The booming of Korean wave has triggered a new phenomenon of east culture in a personal lifestyle.
This phenomenon has drawn the world, especially teenagers to appreciate South Korea popular culture, such as TV drama, music, games, etc. and embracing everything about Korean, including culture, products and people
Non-musical Factors
In addition to publishing various types of non-music materials, the transmedia storytelling BTS does through these different works is impressive.
n order to truly understand the whole narrative created by the band, fans not only have to listen to the music and decipher the lyrics, but also connect the clues hidden in the music video, choreography, performances from concerts and award shows, and printed books and webtoons containing episodes from the fictional narrative.
K-pop Fandom
K-pop fans have showcased a noteworthy ability to organize large-scale collective efforts, such as fan-led birthday projects and stacks of decorated rice bags donated to charity in the name of their idols known as ‘fan rice’
Significance
The effect of BTS for Korean wave itself is tangible enough by the attention that South Korea got through this platform.
South Korea has been giving more efforts to become the world’s leading exporter of popular culture and it is being helped by the rapid development of K-entertainment around the world.
Effect to the Indonesian Economy
BTS is very influential in lifestyle changes, consumption patterns, changes in behavior, and the social life of their fans. These fan groups are referred to as "FANDOM", while specifically for BTS fans are referred to as "ARMY".
Then those who declare themselves as ARMY often buy things related to BTS, wear accessories and costumes to look like BTS, join ARMY communities throughout Indonesia and use Korean in their communication, and collect a lot of money to be able to watch BTS concert
Brand Ambassadors
The key element of brand ambassadors lies in their ability to use promotional strategies that will strengthen the customer product or service relationship and influence a large audience by information about the product, service or idea, creating widespread word of mouth marketing to buy and consume more
Impulse Buying
Impulse buying behavior is an unplanned purchase that was decided at that moment and created by exposure to an impulse, and the consumer had emotional and/or cognitive reactions after this purchase.
An unplanned purchase is not always followed by abrupt desires or strong positive feelings that are usually related to impulsive buying behavior.
Effect of Korean Brand Ambassadors on the Indonesian Market
The competitive advantage of the brand ambassador strategy is that it offers high-quality and custom-made products to brand ambassadors and also offers special and limited products to special customers that create a desirable image.