Status Report Colombia As a group, we first came up with a product for our country. We were Indecisive between two products, which were wine and coffee. After a long debate, we decided to go with coffee because coffee Is known as a major source In the foreign exchange market after oil and also because of the Impact coffee has on many people In this day and age. Next we brainstormed on the approach of the market analysis.
We found mom Information on our target market and Its environment. The economic factor that we found out about Colombia is its unemployment rate, inflation rate, and the cause of the decrease in production. We also found that Colombians political system has been the elitism and dualism of party politics since the mid- sass. Elites from the Liberal Party and the Conservative Party, which in 1987 changed its name to the Social Conservative Party, have dominated the nation’s political institutions. Also that After Colombia declared its independence from Spain in 1810.
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Colombia created ten institutions and were adopted in 1886 which established the present day unitary republic. As we started on the guidelines for cultural analysis, we decided to split each section among the group members. On October 7, 2014, we met up as a group and brought our research and ideas together. During our research, we found out that the coffee in Colombia is of high quality because of the location that it is produced. We also found out that majority of the Arabic coffee beans in the United States comes from Colombia.
As a group, we are still researching further information about our sections, to further explain our research. In further research, we will be working on the second part of the economic analysis and conducting out business strategy in selling our product to Colombia. During the second part of the economic analysis we will go in deeper depth about each section, which includes labor laws, working conditions, and trade statistics. If we decide to enter the market, the business strategy will include a timeline about entry method, the target segment, product positioning, pricing, distribution strategy and promotion strategy.