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The company has its headquarters in Auckland, with the branches in USA, UK and Australia. ( (whim. Jason. Co. NZ, 2013) This proposal is regarding the exporting of the company products to four new countries, stated with an explanation about the potential markets will be an advantage for the company to begin exporting the company products. This proposal will cover the financial, economic and cultural factors in short, prevailing the recommended countries in this report. Generally, the competition, the market trends in international and domestic markets, the environment and the developments have a direct impact on success of any organization.
It is always good to have a great understanding of the current scenario of the impulsive market, which will provide a support for us to plan well and take proper decisions. Target countries for export: South Korea Japan Italy Spain South Korea: South Korea is a developed country with a high per-capita income economy and is considered to be one of the most industrialized member countries in the COED. (http://en. Wisped. Org, 201 5) . The country’s economy was one of the world’s fastest rowing and developing economies till the late sass’s. South Korean economy is highly dependent on international trade.
In the year 2010, South Korea was the tenth largest importer in the world. South Korea has been classed as one of the world’s finest economic success stories. Along with Japan and Taiwan, South Korea is the sole country which has recorded around 5 consecutive decades of economic growth in excess of five percent. This extra ordinary achievement was the result of careful governmental macro engineering sheer hard work from the mass population at large, and sound business practices. The economists also feel that considering the lengthy stagflation of Japan, it won’t be too late before South Korean levels of prosperity match the Japanese. Http://www. Horticulturalists. Com, 2013) The trade organizations of New Zealand and the Korean republic completed negotiations for a free trade agreement which covers both goods and services traded between the two respected countries. The free trade agreement will build upon the strong political and economic ties that already exist between the two countries. As a result of this treaty, by the end of the FAT phasing period, approximately 98% of the kiwi exports ill enter duty and tariff free into South Korea. (mafia. Covet. NZ, 2014) The Korean people are energetic, diet conscious and outgoing people.
That is why; there is a demand for hotel industry in Korea. Our company can have a lot of scope if we deal with the hotel industry, as well as the households of the country. Our wide range of products will have a definite demand in the Korean republic. The main target sector for our products will be the hospitality and home usage customers, and it would be an avenue to tap into the tourism sector as well. The people of Korea enjoy good epistyle, and have access to a lot of facilities and good products as being a developed nation.
Our superior quality products are fit for personal as well as commercial use too. Japan: Japan is one of the developing nations of the world, and it is considered that the economy of Japan is the third largest in the world. By considering factors of nominal GAP and purchasing power, Japan is also the world’s second largest developed economy. Japanese’ purchasing power is the 4th highest compared in all nations, and the Japanese have high expenses, and also have access to a lot of high quality products with the latest technology.
Over the past decade, due to easier communication possibilities, and a rise in the work force that can co-ordinate and speak in English have increased the possibility of entering Japan directly. (expropriation, 2013) The Japanese government has recently announced an overall surplus budget of 29. 1 billion dollars to further boost the economy. (http:// www. Focus-economics. Com, 2014) The trade union of Japan is very actively executing the internal (domestic) and external policies and aiming at a free trade system, as well as they are striving for creating an environment for business in which the economy of Japan grows at a sustainable rate.
The import of goods has become fairly easy, and most of the high valued goods do not require an import license or an identity, and can be freely brought into the country. The Japanese customs and tariffs are on average the lowest in the world, which is not even 2 percent. The Japanese government highlights on importing products into their country as they feel that Japan needs to grow and develop, as well as create exports for paying off those imports. The Japanese are very social people, and they are always looking out for assistant delicacies.
Our target segment for the designed products will be mainly hotels, general public, and also the restaurants. Keeping in mind of the need for superior products for the hospitality industry as well as the home cooking segment, our special products will serve them well. Therefore, keeping various economic, social and financial factors in mind, Japan is one of the most perfect countries to export the company products. With the appropriate approach, our company has a fair chance of penetrating the Japanese markets and create a huge demand for the products.
Italy: Italy has an enhanced modern economy, which is partitioned into a created mechanical north, overwhelmed by privately owned businesses, and a less-created, welfare-needy, agrarian south, with high unemployment. The Italian economy is determined in vast part by the assembling of amazing shopper merchandise created by little and medium-sized ventures, huge numbers of them family possessed. Italy additionally has a considerable underground economy, which by a few evaluations represents as much as 15% of GAP.
These exercises are most normal inside the farming, development, and administration segments. Italy has moved gradually on actualization required structural changes, for example, reforming of the union, redesigning excessive qualification projects, and expanding Job opportunities for youthful specialists, especially women. (http://internationalization. Com, 2013) Italy is the seventh biggest economy on the planet and the nineteenth biggest business for the global exporters. There are numerous profits to working together in Italy.
The energy about the Euro, the maturing population, the increase of migrants, the Italian quality in outline and advancement, and the accentuation on renewable totality are simply a couple of the numerous motivations. In 2010, the Italian GAP was $1. 77 trillion. The European Union is our biggest asset and hence, the European business gives an abundance of chances to many organizations. Besides, since Italy is a Member of the European Union (ELI), it is vital to be mindful of and conform to EX. specialized and administrative necessities.
Italy has extremely straightforward and stable administrative & legitimate environment, the administration continues moving new approaches to fuel venture & development. Italy as a nation has a dependable and a safe domain for working gather, and has a cutting edge business society great monetary markets. It is a created nation with an extensive base of buyers who are refined the taste of the individuals is exceptionally observing and individuals are for the most part slanted towards superior quality items.
Being the top traveler objective the nation has inns & restaurants indulging all sort of tourists, as individuals continue running round the year for tourism the hospitality sector is doing great business. The target segment for our items is the hospitality industry and home utilization buyers and it would be n avenue to take advantage of the visitors too. Our items can be obtained as souvenirs too for companions, relatives and individuals purchase it for self too . There is a substantial traveler population increase; therefore we can take advantage of and make our items noticeable to them and in this way expanding the sales.
Spain: Spain has the thirteenth-biggest economy by normal GAP on the planet, and sixteenth-biggest by purchasing power authority. The Spanish economy is the fifth- biggest in the European Union and the fourth-biggest in the Euro zone, based on nominal GAP insights. In 2012, Spain was the eighteenth-biggest exporter on the planet and the sixteenth-biggest importer. (http://en. Wisped. Org, 201 5) Spain has a phenomenal cultural history. The overwhelming figure of the Golden era, Francisco De Soya rose in the eighteenth century as Spain’s most productive painter and he created some sublimely unflattering pictures of his time.
The workmanship world in the early twentieth century was affected by an astounding gathering of Spanish craftsmen: Pablo Picasso, Juan Grips, Joan MirГ?? and Salvador Dali, envoys of the masterful culture in Spain. Spain’s structural planning reaches from ancient landmarks in Moronic in the Baldric Islands, to the Roman ruins of Merriam and Tarragon, the decorative Leona in Seville, MudJar buildings, Gothic cathedrals, huge castles, fabulous pioneer landmarks and Gaudies complicated sculptures in Barcelona. They are all examples of the Spanish culture. (http://www. Dominique]tote. Erg, 2013) The Spanish government has also adopted the free trade policy with the European Union, and hence there are no tariffs or taxes for trade practices carried out for the same. As the country is more of a tourism based country, our main focus ill be the hospitality sector to look on for business. Our products are perfect for them, as they tend to give world class cuisines to tourists who visit from all over the globe. The Spanish people are fun loving people, who have taught the world a lot of cooking techniques. This is the main reason for our company to choose this country, as they believe in classic merchandise.
Conclusion With the nations being considered are developed nations and the figures, economic situation, exchange regulations, monetary condition, power of purchasing of the individuals, all these elements demonstrate that these business sectors can be curative for our business if we run with the right approach and tap the potential existing in those businesses, individuals of those nations as of now have entry to brilliant items and they like spending on them, and our items suits the needs and needs as they are predominant quality and mechanically propelled items which are gorgeous.
For the most part individuals are exceptionally specific about what is their in their homes & work places they take it as an issue of self regard to purchase the best conceivable items which will upgrade their social picture before others. Our organization items are about being advanced, refined, in vogue, innovative progress and look great too, we have all the great things going for our items, going with the right approach for every nation said in this report can be good for our items.