Strategies for Analyzing and Entering Foreign Markets

International Business
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International Business
This paper provides an analysis of religion and religious activity, culture as well as the availability of Frankincense raw material. These points are discussed comprehensively in the context of 5 countries: the United States, the United Kingdom, China, India and Singapore. The best market entry mode for Singapore, India and China are then discussed basing on the decision factors.
Religion, religious activity, culture and availability of Frankincense raw material
United States: in this country, religious affiliation is very fluid and extremely diverse. Over ¼ of adult Americans have abandoned the religion that they were raised in and chosen another faith, or became atheist. Nonetheless, 78.4% are Christians; Jewish 1.7%; Buddhist 0.7%; Muslim 0.6%; Hindu 0.4%; and those without any religion make up 16.1% of the population (Hackett, 2010). Culture of the United States is Western culture primarily based upon culture of the United Kingdom albeit with influences from other European countries, Latin Americans, African Americans, Native American communities, and to a small degree Asian Americans. As a result of the extent of the culture of this country, there are several integrated and inimitable subcultures in the United States (Hackett, 2010). Frankincense is found in the states of Nevada, California and Arizona in the United States in the arid areas therein where the trees grow.
United Kingdom: This country is a multi-faith society and everybody has the right to religious freedom. Though United Kingdom is historically a society which is Christian, citizens are typically very much tolerant toward the religions of other people and those without any religion. Even though Christian religion (71.6%) is the predominant faith in the United Kingdom, many other religions are practiced here. There are large Sikh (0.6%), Muslim (2.7%), Jewish (0.5%), as well as Hindu (1.0%) communities. Smaller communities of Zoroastriants, Bahai, Jains and Budhists are also found in Britain (Meyer, 2014). Britain is made up of 4 nations which are Wales, Scotland, Northern Ireland and England. Previously a highly homogenous society, since the Second World War, the country has become more and more varied since it has accommodated substantial populations of immigrants especially from previous colonies including West Indies, Pakistan and India. As such, it is a very multicultural society (Meyer, 2014). Frankincense is not available in the United Kingdom.
India: Hinduism (80%) is the most popular religion in this nation. The faith is very colorful with several galleries of Goddesses and Gods. Other religions practiced in India include Sikhism, Budhism, as well as Jainism. The Indian culture is one of the oldest globally dating back roughly 5,000 years. The country is very varied and dissimilar religions have their own unique cultures. In India, frankincense is available in northern parts India where the trees grow (Murray, Ju & Gao, 2012).
China: this is a multi-faith country. Buddhism is the most significant religion in the country with ab...