Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.
Entering the international market is always associated with several risks due to the relatively high costs of launching a company’s project in another country. The first risk associated with a fishing boat company entering the Indian market is dependence on suppliers of used plastics in the region. Entering the market now requires more investment and pricing for new materials, which must be adapted to the company’s cutting-edge development of a foldable boat. The second risk, in this case, is associated with the high price of these products, which may increase due to the need for environmental refinement and deployment of production in the country. The average income of a worker in India is approximately $130 per month, which is not even close to the cost of a boat, which may increase (Gowsalya et al., 2020). The company must either reconsider its pricing policy or look for buyers in the most affluent areas with access to water.
The strength of the American company lies in the innovative and flexible approach to creating products that withstand the tests and criticism of the target audience before entering the market. The second strength is the emphasis on sustainable development as the main criterion for the company’s sustainability and the environment. The ability to provide jobs in an industry vital to the country’s GDP while recycling plastic waste will create significant brand strength for the company, which in the future may be able to count on subsidies from government agencies.
The weak side of the company with this approach to creating products is the high resource cost in the early stages of each project. If the company’s financial performance is strong enough to withstand the test of entering a new continent with the adaptation of technological processes, then the consequences of this weakness are leveled. In other cases, with an unfortunate set of circumstances and high risks, there is a chance of project failure precisely in terms of the cost-benefit ratio. The second weakness of the company is the lack of international experience and, as a result, the need to consider external political, social, economic, and legal factors that may overtake the company, in addition to environmental and technological issues that have already affected the project.
The company’s ability lies in entering the international arena, and the Indian market favors this most. The country’s large population, the focus on fishing activities, which account for 7% of total world exports, and the agreement reached with the National Council for the Development of Fisheries are critical factors in the positive dynamics of this opportunity. In addition, the acquired technology for developing a boat made from recycled plastic can then be used in a product line in America, where trends in need to comply with environmental responsibility affect the organization’s image and drive sales (Gu, 2021). The company will be able to gain a reputation for innovation and being environmentally friendly.
Threats are the presence of cheaper analogs, sales of which will remain at the same level due to the high price of a new product. The second threat involves the safety of the operation of this boat for the most junior and senior representatives of the target audience. These products must also be tested for comfort and ergonomics and for various extreme situations that may be associated with the specific conditions of Indian fishing.
In this regard, as a strategic recommendation, it is proposed that the company use the experience of recycling used plastic to decrease the expenses for product materials in the whole supply chain. The second recommendation is to diversify the product line of boats into cheaper and more affordable options that are smaller or lack certain ergonomic features. The purchasing power of the target audience in India is relatively low; therefore, it is necessary to adapt to external factors, especially since high sales are a critical factor in the success of this project.
References
Gowsalya, T., Kanaga, V., & Faizullah, M. M. (2020). Analysis of fish production status and marketing structure in aliyar reservoir, Tamil Nadu. Indian Journal of Animal Research, 54(9), 1159-1164. Web.
Gu, J. (2021). Spatial dynamics between firm sales and environmental responsibility: The mediating role of corporate innovation. Sustainability, 13(4), 1684.
Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.