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product. The feel good factor is that it is pro-American country with the Filipinos and their government having very friendly relations with the U.S. The Philippines is the 19th largest export market of the United States with an approximate annual export of $8 billion. For launching a new product by JF’s Electronics, the Philippines can be the perfect launching pad as people there have liking for the U.S. products. Language is not a barrier, as the Philippines is the third largest English speaking country (buyusa.gov).
The Philippines market environment for the mobile phone products, called the Cellular Mobile Telephone System (CMTS) is quite encouraging for the U.S. products. Let’s review different environmental aspects related to the Philippines economy, politics, legal, regulatory, technological, and social factors to ensure that the JF’s Electronics would succeed in providing a secure international platform to its new product – customized mobile phone.
JF’s Electronics new product – the customized mobile phone would find a ready and ripe market as the mobile phone is a favorite digital device of the Filipinos. More than 22 million Filipinos have a mobile phone. The number of mobile subscribers is growing fast; in 2004 the growth rate touched to 34% to more than 30.2 million. In Short Messaging Service (SMS), this country is the world leader. As per the market report, carriers cover more than 200 million text messages a day in Philippines. The above scenario projected by the U.S. Commercial Service regarding the mobile phone market and the Philippine’s 100 years old friendly business relations with the U.S. are enough to build up confidence of the JF’s Electronics to enter in the Philippines market with its new product launch, i.e. customized mobile phone (buyusa.gov).
The Philippines imports in electronics are into raw material to be used in export processing locations. Consumer goods, a subsector of electronics industry are 0.93
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Audit of the Foreign Market’s Environment.
The market environment in Hong Kong can be analyzed using PESTEL analysis to describe the various macro-economical factors influencing and impacting upon the business environment. Firms get widely affected by the external environmental factors acting on them which consequently influence their business directions and strategies.
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In this respect, the familiarity with the service market with respect to the private and luxury transport segments provides the company with necessary assessment for the diversification in the country and abroad (Lovelock & Wirtz, 2009). In view of the magnitude of diversification component when compared with the main business, a strategic approach must ensue in balancing sustainability of the existing business wing and oversee development of the new wing.
A company can undergo expansion in terms of production, or in terms of marketing activities. The two aspects derive from the dictates of supply and demand within a given commercial environment. According to Tielmann (2010), the aspect of globalization has enabled business organization to expand their operations beyond their parent territorial borders.
In this context, it is observed that Cameron International plans to penetrate further into the markets of Myanmar. The company already has a minor presence in the markets of Myanmar and plans to expand further through effective marketing strategies. There are various institutional and risk factors that would pose a problem.
Cameron International Corporation’s involvement in the Myanmar market shall face direct market barriers since it seeks to diversify its investments through capital-intensive programs to enter the market instead of practicing other entry mechanisms. Currently, the corporation’s involvement in the Myanmar market is often prone to direct barriers to market entry since the country is recuperating from economic crises caused by the lengthened period of sanctions imposed by other economies since early 1990s (Duncan, 2009).
No doubt, our reading of the latest literature leads us to terminate that, in difference by the profession's consensus scrutiny of the 1980s, official intervention can be effectual, particularly from side to side its role as a signal of policy intentions, and particularly when it is publicly proclaim and concerted.
Valuation of the Milagrol LTDA should be done with due diligence by experts in valuation to avoid mistakes of under or over valuation. Political risks associated with inter transfer of business should be carefully evaluated to ensure that the buyer
With the liberalization of trade markets and emerged opportunities for international business development, many companies have faced with a challenge of deciding the best foreign market entry strategy for a host country/countries/region(s). Foreign market entry strategy is a comprehensive theme, which is influenced by three major groups of factors.
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