Business Com. The plan of export of security system cameras has features.
Select a fairly inexpensive product that you currently own, and a country that you're not very familiar with. The product could be a moderately priced watch, radio, or other device. Now imagine that you are with the international sales department of the company that manufactures and sells the item and that you are proposing to make it available in the country you have selected.
The first step is to learn as much as possible about the country where you plan to market the product. Check almanacs, encyclopedias, the Internet, and library databases for the most recent information, paying particular attention to descriptions of the social life of the inhabitants, their economic conditions, and cultural traditions that would encourage or discourage use of the product.
Your 1-2 page report is to be submitted to the chief operating officer of the company, whose name you can either make up or find in a corporate directory. Make sure to include the following:
(1) Briefly describe the product you plan to market abroad.
(2) Briefly describe the country you have selected.
(3) Indicate the type(s) of people in this country who would find the product attractive. Provide at least one (1) supporting fact.
(4) Explain how the product would be transported into the country (or possibly manufactured there if materials and labor are available). Provide at least one (1) supporting fact that justifies your choice.
(5) Recommend a location for a regional sales center. Provide at least one (1) supporting fact that supports your location choice.
(6) Describe how the product will do in this new environment, with at least two (2) supporting facts.
(7) Describe at least two (2) recommendations for marketing (steps the company should take immediately and those it should develop later).
Business Com
Student’s Name
Institutional Affiliation
Business Com
The plan of export of security system cameras has features. In particular, the company aims to specialize in exporting home security systems and surveillance cameras for the business consisting of CCTV system, IP based CCTV systems, wireless CCTV, and hybrid CCTV systems. The prices of these products are affordable, ranging between $20 and $100. In the recent years, the CCTV products have become relatively inexpensive despite their increasing demand. Initially, the prices for these devices were high, but the intense competition in the American market affected the pricing strategy adopted by the players in the CCTV market. In fact, the projection for the CCTV market regarding size, growth, share, and trends is expected to increase tremendously by the year 2025. Also, a study by Transparency Research revealed that the market for CCTV cameras is expected to increase by 12.7% and generate a global value of about $23.32 billion in the next ten years. However, the competition in the market is stiff in the U.S market due to the many hardware and software providers of these products, and for this reason, the company has contemplated exporting the devices in the emerging markets.
The Identified Country
The targeted country is Morocco. The country becomes the first African country to liaise a trade agreement with the United States. Since then, Morocco has become a significant player in the North American market. The country’s economy is expected to expand by 5 percent. The promising markets in Morocco include safety and security equipment, building construction, water treatment, and renewable source energy. Also, the country’s proximity and the bilateral commercial relationship have made it attractive to the American Markets, which use it as a hub for their African sales and operations. Based on key economic indicators and trade statistics, Morocco offers a relevant market that the US firms should capitalize. As of the year 2016, the exports of the electronic devices from the US to Morocco totaled $1.9 billion. The increase has been due to the growth of tourism, the hospitality industry, real estate industry, and the demand for IT products and services.
The Identified Morocco
Morocco is the targeted country because it acts as a central hub for African markets. It is among the fastest growing counties in Africa due to its strong political stability and economic policies. Also, the Moroccan consumers are sensitive to price. They are used to the traditional approach to supply, with convenience and assurance in the sellers being an important choice standard. Nevertheless, it becomes effective when the point of sales is recommended by their close relation. This means that to penetrate the Moroccan market, the company has to establish a long-term relationship with the targeted consumers. Apart from paying close attention to personal contact, it is important to note that Moroccan consumers are not loyal to any specific brand. Approximately 50% of Moroccans have a habit of changing supermarket chains and clothing brands annually. The good news is that about 71% of Moroccan consumers prefer international electronic and IT devices over the local ...