You are the Business development manager of the company and are in favor of entering all three markets since they all seem to be highly profitable. However, the CEO of the company is skeptical and doesn’t want to risk entering three markets at the same time. The directors are also of the view that they have to pay duty and other taxes which can take a major hit on the bottom line. You have been asked to recommend one market that the company should enter first. Give your in-depth analysis for choosing that particular market.
As I have assigned on a position of Business development manager in the company, I will suggest the market of Japan because it is not only highly profitable market, but also provide great opportunity for the new entrant who want to establish their sweet products in this emerging and big market. However, we are well-established brand in USA and carry a great standing from the past few decades. These past successful years can also help us in making our brand establish among those consumers who are looking for high quality safe products, especially when it comes to healthy and safe sweet products that we can see in the consumer market of Japan.
We are exploring the confectionary market of France, Japan and Poland, we want to make sure that our product that is provided to these markets are safe and meet the high quality standard. The challenges that can be faced by us are:
- Competitors: The presence of few of the well-established players in this market.
- Labor Force: As, the established brands have built their brand reputation, supply networks and loyal customers in these markets that is one of the biggest issue which our company can face that already have well-established suppliers and customer relationships.
- Issue of Product Display: When it comes to product display on shelves best placement is already taken by these established brands who already exist in these confectionary markets (Lee et al.).
The Canadian government does a lot to facilitate international trade. EDC and DFAIT encourage Canadian companies to get involved in trade. They fill a number of different roles in this effort. Describe what EDC and DFAIT do (provide 2 examples for each of them) to promote and encourage international trade.
Export Development Canada and the Department of Foreign Affairs and International Trade are providing insurance services for the Canadian business to boost their businesses by catering into the emerging markets of the world. The key aim is to bring success for the Canadian businesses and encourage international trade for the Canadian companies to get involved in trading business. They are providing ground knowledge and business expertise to help the companies extend their businesses into new markets. Also, it provide financial solutions and investment opportunities to benefit Canadian companies (EDC (Realize a world of opportunity).
Work Cited
Singh, Tanuja, and Global Food Forums. 'Factors Impacting New Food Introductions In Emerging Markets'.
Lee, Tzong-Ru et al. '(The 8Th International Conference On Global Business And Economic Development MANAGING BUSINESS IN A VOLATILE ENVIRONMENT: Balancing Local And Global Challenges, 02: P1280) The Application Of Quality Function Deployment Method To The Auction System Of Taichung Wholesale Fish Market In Taiwan'. (2004)
EDC (Realize a world of opportunity),. A Trusted Partner In Trade For Canada. Canada: Export Development Canada, 2011.
