In international marketing, it is important for any company to judge the external environment before entering into a new foreign market to understand the feasibility of the business in the target country. The evaluation of external environment is very essential and it is a continuous process. In the light of the all the external environmental factors the crucial factors that are important to know are market growth of the particular industry and the organization’s growth. From that only, anyone can actually understand the performance of the company. For example, if the market is not good in a particular region then it’s obvious that a company should maintain caution while going to international market. The host country’s political and economic conditions play a major role in understanding the potentiality of the company. The branding of Wiggles is also important aspect here to understand the situation. This study has analysed the entire business situation of the company on the basis of the mentioned criteria. Table of Contents 1.0 Introduction 5 1.1 Aim 5 1.2 Scope 5 1.3 Background 5 2.0 Environmental forces of Middle-east affecting the Wiggles 7 2.1 External Environmental Forces 7 2.1.1 Political Environment 7 2.1.2 Economic Environment 7 2.1.3 Social Environment 9 2.1.4 Legal Environment 11 2.1.5 Technological Environment 11 3.0 Competitive Factors in UAE 12 3.1 Market size 12 3.2 Purchasing power 12 3.3 Disposable income 12 3.4 Market Demand 12 3.5 Industry Supply 13 4.0 Market potentiality in the Middle-East analysis and discussion 13 4.1 Analysis 13 Strengths and weakness to open a market in UAE 14 4.2 Discussion 15 5.0 Conclusion 16 References 17 1.0 Introduction 1.1 Aim Business has taken a new dimension now days. It is not the traditional way to do the business where there will be a point of sale and people will believe on hard sales that means selling the products would be in highest priority. Business has taken new shape and colour. Previously there were only two approaches of marketing present in the world – the Production concept and the product concept. The production concept says that emphasizing more on production can lead to a greater amount of output in the economics. 1.2 Scope By selling more units the firms can gain more profit. After that, the Product concept came in view and the concept explains the details about the product differentiation that means adding more and more features on product could make the product different from the other product. But this concept also leads to high cost for the producers and this is what we call as “Marketing Myopia.”Recently the concept is present in the market is Social marketing. Social business concept is the new dimension of the business where the organization feels itself as a part of the society. The organization would provide the merit goods to the society (Blythe, 2006, p.89). 1.3 Background It’s not only the goods market but it’s the service market that has created a new era in the marketing field. The companies like Wiggles provide service to the people around world for last 21 years. Here it is noted that goods market is somehow different from the service market. In goods market, we can actually see the products, we can touch the products, we can transfer the product but in case of service marketing there is no transformation of the product, there is no homogeneity of the products. ‘Wiggles’
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Globalizing a local brand Executive Summary This study deals with global market analysis of Wiggles. The study mainly focuses on the company business operation in one of Middle East Countries. The country selected for this study is United Arab Emirates or UAE…
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