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Need help with my writing homework on Feasibility of Launching an American Product in a Foreign Market. Write a 2000 word paper answering;
Need help with my writing homework on Feasibility of Launching an American Product in a Foreign Market. Write a 2000 word paper answering; Hence the paper reinforces the concept that marketing research is not only limited to research related to the product but it is also related to research relating to all the factors that are going to have an effect on the product launch feasibility in the new geographical area (Kotler & Keller, 2011).
Since the paper deals with the formation of the basis of the new business idea, we will discuss the marketing research for the idea in detail i.e. discussion regarding the launch of an existing product in a completely new geographical area. Hence the components of marketing research have been discussed below in detail.
The chosen product is Fiber One bar from the American company Fiber One working under General Mills. The selected location for the launch in Pakistan. Fiber One bar has been introduced in the industry as a product for health-conscious people as it offers a taste of chocolate and fewer calories at the same time. It is a very famous product in the USA in the female population. The reason for the selection of Pakistan for the product launch is the current changing trends in the country, within a few geographical areas of the country, a certain demographic segment is showing interest in purchasing healthy products due to which local stores are offering exported products that have been brought through unprofessional procedures (General Mills (USA), 2011).
Based on all these pieces of evidence, a strong need for this product has been identified and the observable factors give a very high probability of the product’s success in the market. However, there is a very high chance of failure of the product if proper analysis of the country isn’t carried out. We have identified the .need for the product, but as of yet, we do not have any strategy to launch the product. How can the strategy be devised? It can be devised by understanding the country, its people, economy and systems inside out.
