Term Paper on "Market Screening for Final"
Term Paper 5 pages (1493 words) Sources: 1 Style: APA
[EXCERPT] . . . .
Market Screening for FinalExporting Chocolate to China
The company I own produces chocolate and chocolate derivatives. We currently operate in America, but we wish to extend our business to a global level. With the view of going global, we are thinking of exporting to the Chinese market. Throughout the report, we are going to depict each aspect related to our future success or failure by performing a market screening.
Description of product to be exported
The company is called "Sweet Dreams" and it offers a wide variety of chocolate products. Beginning with the well-known chocolate bar, we can mention chocolate truffles, chocolate sticks, chocolate beans and other premium specialties. Even the chocolate bars range from the most common type (milk chocolate) to all assortments. For example, we can refer to some of the ingredients added, like: almonds, nuts, caramel, fruits, mint, champagne, honey, rice etc.
In accordance to the target market, we can create different types of products by adding new ingredients. Thus, taking into consideration some specifics of the Chinese people, we can include rice or other preferred components.
Characteristics of target market
GNP/capita, GNP/capita growth rate, Size of market
While the economies of China and India are considerably smaller than that of the U.S., China is likely to overtake and India to equal the U.S. economy in size by mid-century. And as the world's economic center of gravity shifts to Asia, U.S. preeminence will inevitably diminish. Measured in comparable units of purchasing power, the U.
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With chocolate consumption increasing at a rate of 25 per cent a year in the Asia-Pacific region, and 30 per cent in China, chocolate makers fear that coco- bean growers will not be able to keep up with demand"
For Lovers of Chocolate, future could be very dark.). The size of the market is continually increasing as the Chinese people tend to shift their preferences from the traditional sweets to the Occidental products. They seek to be in trend and, therefore, they opt for whatever gives them the feeling of Occident.
Market screening
Basic need potential. As the product cannot be tagged as a means of fulfilling basic need, we can assess its purchase as being more the result of a wish.
Exchange rate trends. People's Republic of China has the currency
Renminbi. Before 2005, an U.S. dollar used to be pegged at 8.28 RMB. However, on July 21st, 2005, it was changed to 8.11 per U.S. dollar and, subsequently, they removed the peg to the U.S. dollar. The state announced that the RMB would be pegged to a basket of foreign currencies and would not be strictly tied to the U.S. dollar. Therefore, it would trade within 0.3% against this basket of currencies.
Import restrictions. China has no import restrictions on chocolate, except for the fact that producers should mark the country of origin of the products they offer.
Price controls. Chocolate has no price control.
Government and public attitude toward buying American products. In a trend of adapting to the occidental trend, the Chinese have become more and more captivated by the taste of chocolate. For this purpose, a report (Chocolate Strives for Standard.) was made by Sinomonitor International (a Sino-Japanese independent market supervising firm), disclosed during 2003-2004, on a sample of 70,000 Chinese people aged between 15… READ MORE
Quoted Instructions for "Market Screening for Final" Assignment:
Sources available on faxfile board.
If you are unable to do the Power Point, can you put the information into word and I can cut and paste the info into Power Point. If this is not possible please let me know. Thank you.
CheckPoint: Market Screening for Final Project
*****¢ Resource: International Business pp. 426-427 and Appendix A
*****¢ Inform your instructor of the country and product you chose for the final project.
*****¢ Complete the market screening portion of your final project using the sources of information on pp. 426-427.
*****¢ Submit your findings as a 5-to 7-slide Microsoft PowerPoint ®®presentation.
*****¢ Address the following topics:
o Basic need potential
o Import restrictions
o Price controls
o Government and public attitude toward buying American products
*****
How to Reference "Market Screening for Final" Term Paper in a Bibliography
“Market Screening for Final.” A1-TermPaper.com, 2006, https://www.a1-termpaper.com/topics/essay/market-screening-final-exporting/438789. Accessed 5 Oct 2024.
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