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Saudi Arabia: Opportunity or Risk for New Market Entry - Assignment Example

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This report has been prepared to identify potential opportunities for new market entry in Saudi Arabia. This is a country that is currently in the stages of early infrastructure development, making it a long-term opportunity rather than one with short-term gains…
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Saudi Arabia: Opportunity or Risk for New Market Entry
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Download file to see previous pages There is considerable growth in consumer electronics purchases by Saudi citizens. Computer hardware accounted for approximately 51 percent of consumer spending on electronics in 2008 (bharatbook.com, 2010). This is due to the increased growth in Internet usage in this country and growth in adoption of portable computing devices such as the laptop for business professionals and consumer lifestyle. 20 percent of electronics spending was devoted to mobile handset devices in the same year (bharatbook.com). These sales approached nearly $3 billion in 2008, making it a lucrative industry in Saudi Arabia.
There are 25 million different Muslims in Saudi Arabia, over 95 percent of the entire population (pewforum.org, 2009). Strong religious values drive much of the business decision-making in this country, such as efficiency and truthfulness in personal or financial transactions. Unlike in Westernized nations, there are many cultural symbols and phenomenon associated with Muslim religious values that will require additional research prior to new market entry. For example, women are taught values of modesty and moderation (Ramadan, 2010), therefore Western advertisements depicting women similarly as in the home country would be rejected by traditional Muslim followers. There would be considerable issues to examine in relation to marketing promotion, advertisement, and how the product would be represented by Muslim cultures, especially less-progressive buyers. ...Download file to see next pages Read More
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