Business
Xxxxxxxxxxxxx
15931453069174948149008555679221.pptxFinding the Right International Market
Waqas Amin, IBM 4141 International Marketing, Professor Ong
Tajín
Mexican chilli flake season consisting of chili peppers, lime and salt.
The company is officially known as Empresas Tajín.
Founded in 1985 located in Zapopan, Jalisco Mexico.
Today Tajin is known throughout markets from North America to Central America with many distinct product lines for each country.
Bolivia PEST Analysis
Political: According to wikipedia the government has been overthrown 200 times. Poor governance such as laws in 2013 in which the “government can revoke permits of nongovernmental organizations”
Economical: The average Bolivian makes $307.70 a month as stated by the website Trading Economics. So the average Bolivian will be able to purchase Tajin.
Sociocultural: Bolivian cultured dished consist of tangy spices. About 30% of Bolivians are mixed European and Indigenous people meaning spices are such chili peppers and flakes are apart of dishes.
Technological: 46.14% of households have access to television according to the website nation master.Reaching out to my target market may be difficult through this outlet.
Ghana PEST Analysis
Political: According to the corruption perception index, Ghana ranks at about 41% which is perceived as more corrupt.
Economical: Ghana’s GDP has improved drastically going from 5.4% to 6.7% as stated by the website The World Bank in Ghana
Sociocultural: Ghanaian cuisine generally involves a lot of spices such as garlic, onions, ginger peppers, and curry as stated by Wikipedia of Ghanaian cuisine. But only 20% of the population enjoy spices.
Technological: According to the website Nation Master 26% of households have access to television.
Is Bolivia the Right Choice?
Bolivia’s GDP is 40.29 billion dollars in 2018.
Geographically Tajin has entered nearby markets in Central America.
Tropical climate makes the chili spice perfect for tropical fruit for tourist and locals to enjoy.
46.14% of households have access to television making it easier to market the brand compared to Ghana.
Is Ghana the Right Choice?
Ghana’s GDP is 65.56 billion dollars .
Untapped potential market for a Central American spice to be used in an eastern market.
Could possibly lead to a market-creating innovation to adapt to local cuisines.
Although Ghana’s market maybe unpredictable especially with an eastern cuisine taste where only 20% of locals like spices.
Strategy to Enter Bolivia
Before entering Bolivia I need to understand the local responsiveness of the Bolivian people and culture.
With the average Bolivian making $307.70 a month, I want to know what the expenses a local has.
I need to conduct research by having an external team observe local spending behavior habits for food.
Strategy to Enter Bolivia Continued...
Another PEST factor that will benefit with my observation of local responsiveness would be sociocultural factor or generally with cultural cuisine.
Generally a Bolivian diet consist of corn, potatoes, quinoa and beans.
With this information I can tailor to a Bolivians taste bud through research and observation and word of mouth.
A new product line of Tajin seasoning can be developed possibly with an increase of spices because Bolivian cuisine tends to have heavy spices.
Marketing Strategy for Bolivia
After creating a new product line that has a spice increase I can begin to evaluate brand imaging for Bolivia.
Instead of advertising for putting the spice of fresh fruit I change the message towards the local cuisine of putting the seasoning on corn, potatoes and beans that best fit the local taste buds.
A multidomestic strategy would play best in this case to suffice the needs for sociocultural factor.
Marketing Strategy for Bolivia continued..
To combat the Political issues mentioned earlier in the PEST analysis, Tajin just needs to be recognized by the government so it will not be considered as a “nongovernmental organization”.
Possible potential of establishing a turn key operation in which locals are trained to handle marketing in Bolivia.
Closing Summary
After careful observation and research on the PEST analysis observation and considering each factor I believe Bolivia is the best market for Tajin to enter.
With emphasis on each factor, the best option to pursue in this marketing plan would be to establish a new product line that best fits the local responsiveness in this case being increasing the amount of spice.
Observation is the key to understanding and appealing to the local environment of Bolivia and rich cultural taste.
