Reference no: EM13826925
You are an international marketing consultant working for a Canadian company interested in expanding into a foreign market. Currently they market their product only in Canada. They want to start slowly: they want to choose one country to enter. This will enable them to gain experience that can be applied to a bigger expansion down the road. The countries they are considering for this first expansion are:
1. United States (Southwestern States specifically)
5. One of the European Union countries 6. South Korea Your Task: For one of these countries (your choice) you are to prepare an economic and social analysis of the country.
This analysis should include:
• The economic system in place and the impact it would have on trade
• Any preferential trade agreements in place
• The legal, cultural and political structures in place that will have an impact on the company's market entry plans. For example, are there cultural characteristics a Canadian company would need to be aware of?
Is the political situation stable or shaky? Are there trade laws that may inhibit business?
PLEASE NOTE: Choose a type of good or service (e.g.: sportswear, IT consulting services) or even an actual good or service you are familiar with to prepare this report. It will provide focus for your analysis and the market entry strategy assignment. But do not choose an actual product (good or service) that is already marketed in the country you are analyzing.
The question lies from Marketing and it is about choosing a country for expansion of a product from a Canadian company. Countries with good potential markets include China, India, Mexico, one of European Union countries, South Korea, etc. In this case, a Canadian sports drink company has been chosen which wants to venture into Indian markets. An overall scenario has been explained in the solution.
Word limit 1200