Global Marketing Ethics and Culture
Table of Contents
Introduction Product Chosen to be marketed
Company Profile
Foreign Market Targeted
Key Factors Considered
Political Factor
Economic Environment Factor
Secondary and Primary Research
Distribution Decisions
Market Analysis
Recommendation
Conclusion
Introduction
Globalisation has been driven by two fundamental forces namely technological changes together with the integration of markets and the freer movement of goods and services (Goodsall, 2011).This report seeks to identify the key marketing factors and strategies to be considered by marketing department when seeking to enter foreign markets.
Chosen Product to be marketed
The chosen product to be marketed internationally is Angostura Aromatic Bitters; this product is indigenous to Trinidad and Tobago. This product was created by Dr Siegert, initially called “Dr Siegert Aromatic Bitters” and later renamed Angostura Bitters (C, 2011)It has maintained its unique and original secret recipe since its inception in1824.
Angostura Bitters is exported to 150 countries worldwide and has maintained the classical and ultimate ingredient for cocktails in the mixing industry. However, its unique flavour causes it to go way beyond the bar with the ability to marry flavours in the preparation of food dishes, and add aroma and a pleasant taste to soft beverages and deserts (C, 2011)While the product has an alcohol volume of 44.7% each dash have an insignificant amount of alcohol and is labelled as non-alcoholic (C, 2011)
Company Profile
This business is one of the leading rum producers in the Caribbean and is the world market leader for bitters. Besides being a Royal Warrant holder of the Queen of England. Angostura bitters have been internationally marketed to marketplaces around the globe, (Anon., n.d.).The company vision is to advance its position as the principal producers of aromatic bitters globally. And their
Introduction Product Chosen to be marketed
Company Profile
Foreign Market Targeted
Key Factors Considered
Political Factor
Economic Environment Factor
Secondary and Primary Research
Distribution Decisions
Market Analysis
Recommendation
Conclusion
Introduction
Globalisation has been driven by two fundamental forces namely technological changes together with the integration of markets and the freer movement of goods and services (Goodsall, 2011).This report seeks to identify the key marketing factors and strategies to be considered by marketing department when seeking to enter foreign markets.
Chosen Product to be marketed
The chosen product to be marketed internationally is Angostura Aromatic Bitters; this product is indigenous to Trinidad and Tobago. This product was created by Dr Siegert, initially called “Dr Siegert Aromatic Bitters” and later renamed Angostura Bitters (C, 2011)It has maintained its unique and original secret recipe since its inception in1824.
Angostura Bitters is exported to 150 countries worldwide and has maintained the classical and ultimate ingredient for cocktails in the mixing industry. However, its unique flavour causes it to go way beyond the bar with the ability to marry flavours in the preparation of food dishes, and add aroma and a pleasant taste to soft beverages and deserts (C, 2011)While the product has an alcohol volume of 44.7% each dash have an insignificant amount of alcohol and is labelled as non-alcoholic (C, 2011)
Company Profile
This business is one of the leading rum producers in the Caribbean and is the world market leader for bitters. Besides being a Royal Warrant holder of the Queen of England. Angostura bitters have been internationally marketed to marketplaces around the globe, (Anon., n.d.).The company vision is to advance its position as the principal producers of aromatic bitters globally. And their
References: Anon., 2011. Foreign market entry strategies, the University of Gavle: s.n. Anon., 2013. Botswana. [Online] Available at: http://www.heritage.org/index/country/botswana Anon., 2013. Distribution Decisions. [Online] Available at: http://www.knowthis.com/distribution-decisions Anon., 2013. The Marketing Mix and 4 Ps. [Online] Available at: http://www.mindtools.com/pages/article/newSTR_94.htm Anouk, Z., 2013. Botswana Facts and Information. [Online] Available at: http://goafrica.about.com/od/botswana/a/botswanafacts.htm BBC News, 2013. Botswana profile. [Online] Available at: http://www.bbc.co.uk/news/world-africa-13040376 c., M., w. W. j., 2010. Marketing Management , A Strategic Decision -Making Approach. In: s.l.:s.n. C, E., 2011. Alcademics. [Online] Available at: http://www.alcademics.com/2011/03/the-history-and-production-of-angostura-bitters.html Goodsall, A., 2011. Global Marketing Ethics and Culture. 2nd ed. Essex: Pearson. Index of Economic Freedom, 2013. [Online] Available at: http://www.heritage.org/index/country/botswana Johansson, J. K., 1997.. Global Marketing, Foreign Entry, Local Marketing and GlobalManagement. Chicago, IL:: McGraw-Hill. Ministry of Trade & Industry Botswana, 2010. [Online] Available at: http://www.mti.gov.bw/ Samuel, A. y., 2007. Impact of political risks in international marketing: the case of West Africa. [Online] Available at: http://www.memoireonline.com/08/09/2610/Impact-of-political-risks-in-international-marketing-the-case-of-West-Africa.html Sasha, H., 2012. $30 million boost for Angostura’s Bitters. s.l.:Trinidad and Tobago Newsday. The Caribbean Centre for Money and Finance, 2013. AN OVERVIEW OF ANGOSTURA HOLDING LIMITED. [Online] Available at: http://ccmfuwi.org/files/publications/companies_profiles/AHL.pdf