International business Essay Example | Topics and Well Written Essays - 2250 words

International business - Essay Example They are the result of the industry formation, their personal resources and the expertise the products rely on. Even if the industrialists did not clearly utilize the suggested framework to develop strategies, they do take advantage of a few aspects of these theories to support their decision-making. Nonetheless, the suggested theories cannot justify all of their strategies. It was interesting how the industrialists made use of â€Å"fortune†, â€Å"opportunity† and â€Å"gut feeling† to explain how they came about starting their businesses and why the business models developed the way they did. A number of decisions did not have a strategic foundation and were comparatively extemporized. This reveals the approach of startups to function as opposed to transnational businesses, which generally have some set of rules to follow before executing any plans (Lymbersky, p. 83, 2008). A lot similar to the rest of the Middle East, the Egyptian market is creating a taste f or foreign goods and newer generations are keen to try a rising range of these products. Introduction Once regarded as an improbable trade associate because of a fragmented retail sector as well as shortage of cold storage capability, the Middle East’s progress in both areas has led to better prospect for foreign confectionery providers. In addition, trade liberalization, better infrastructure in addition to distribution arrangements are aiding to smooth the progress of new product entry as well as brand development. In the present day, the Middle East (Lymbersky, p. 83, 2008) is among the most lucrative markets for confectionery around the globe. Demographically, the young people, rising number of emigrants, and mounting disposable income per capita should carry on creating demand for confectionery. Suppliers from all over the world are eager to meet this rising demand and are intensifying the competition for same reason. In a few of the smaller Middle Eastern nations such a s Israel, the supermarkets as well as hypermarkets make up the major share of confectionery sales. There are two national supermarket chains in Israel that currently control the retail scenario. Convenience stores, naturally, still play a most important part in confectionery supply; however, the small self-regulating grocer has mostly washed out from the scene (Sekkat, p. 29, 2009). Background The report helps in better understanding of the opportunities and possible barriers to enter the confectionary market of Middle Eastern region. The report is made with a regional focus and the information has been collected from all individual markets of Middle East region including Egypt, Israel and Turkey. Objective The objective of this report is to identify different market entry strategies and select the one that is most suitable for the company. The areas covered in this report are strategic issues this company is required to fix on earlier than product launch, to guarantee successful ma rket entry as well as their consequent survival. These consist of, but are not restricted to, the basis for entering that particular market segment, the types of promotion, their competitive advantages and methods to maintain these advantages. Reasons for Selecting Middle East Region There is developing awareness among international confectionery producers on the Middle East market. For many years, confectionery sales within the region have witnessed double-digit yearly growth, rising by almost 15 percent per annum between 2006 and 2009. There are quite a lot of bases for