International Marketing Essay Example | Topics and Well Written Essays - 3000 words

International Marketing - Essay Example Product and product line The company deals with consumer product goods. Its consumer product ranges from beauty products to household care products. Beauty products includes skincare products-creams, lotions, perfumes; hair care products- hair oil, shampoos, conditioner; Household care products includes packaged food, detergent powder and liquid, dish washer and toilet papers. The company has been investing a good amount of money in innovations and in Research and Development department. The company plans to expand into Central American country because of the growing opportunity and to create a global presence for itself. Therefore the product that the company would export is packaged food or so called ready to eat food. The reason for choosing this product is that Central America has a tremendous growth opportunity in the retail food segment especially for ready to eat foods. The company can export its packaged food items and try to capture a reasonable market share in the retail fo od segment. Packaged food items would include breakfast’s cereals, fresh fruits and vegetables, dairy products and snack foods. Proposed Export Country The country where the company should export is Central America. The reason for choosing Central America is that the country is experiencing a growth in the consumer products and it would sound profitable for the company to invest in a growing economy. The Central America includes seven states and they are United States, Dominican Republic, Costa Rica, Guatemala, El Salvador, Nicaragua and Honduras. There is a huge opportunity in the consumer product category especially in the ready food products. The company product line includes packaged foods; therefore it would help the company to expand its business in Central America. But the country has a preference for US products and the importers also prefer doing business with the exporters from US and consider them reliable and trustworthy. The US product has a better brand image th an the local products in Central America (Food Export Association, 2011). The company can take this challenge as an opportunity and let the consumers of Central America experience a different brand, a brand from Hong Kong. The demographics of Central America states that the total population of the country is about 41,739,000 out of which Guatemala comprising the highest population of about 14,027,000 and least population with 307000 in Belize. Spanish is the dominant language of the country and official language in six countries. The culture of Central America is said to be rich despite of its small geographic area. Central America has a diverse culture especially in El Salvador, Honduras and Guatemala (Moving to Central America, 2011). The retail sector of Central America is expanding rapidly; the hypermarkets and the supermarkets are expanding into multiple markets in the region. The local touch is important for the people of Central America as they find it personal and reliable. The consumer products have been forecasted to have a positive growth rate especially for ready foods such as breakfast cereals, snack food, pancake mix, dairy products to name a few (Food Export Association, 2011). Entry strategy When a company plans to enter the international market, it is essential for a company to choose an entry strategy in