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Franchising a business is always a complicated procedure that requires a great effort to be put to bring a profit later. In order to start or expand a particular business, one should meticulously examine all the factors that might influence business success over time. Some of the most crucial factors are the overall natural conditions, customers’ average profile, and position in the world economy. In the course of this paper, the aforementioned features will be analyzed in the context of Panera’s opening in Bangkok, Thailand.
First of all, the profile of both the country and the company should be briefly discussed in order to evaluate the company’s major goals on the market. Panera is a bakery and café network, established across the US and Canada. As Thailand is a country with well-developed infrastructure and services, the level of competitiveness among the representatives of fast-food chains is quite high (OEC). Hence, before introducing the business to the Asian market, a company has to analyze its reception by potential customers, especially those of Bangkok residents.
Speaking of Bangkok, the capital of Thailand, the city is considered to be cosmopolitan due to the variety of cultures and ethnicities present across its area. According to the latest data, the population of Bangkok constitutes more than ten million residents (“Bangkok Population 2020”). Such numbers lead to a high rate of diversity in the city, which means that the market has to be diverse in order to satisfy all the groups of potential customers. Thus, even a food restaurant with many competitors has a chance to become profitable once it manages to address its target audience properly.
Another important aspect of the analysis is the examination of the natural and environmental conditions of a given area. When it comes to Bangkok, the area is at a high risk of floods during the summertime, as it is considered to be the rainy season in Thailand (“Sustainable Management of Natural Resources”). The Chao Phraya River with its delta in Bangkok increases the probability of seasonal floods. In terms of other geographic aspects, Bangkok is placed on a flat and relatively low surface, which makes the city even more cost-efficient. Although there are many organizations and governmental projects on saving the environment from floods, the risk is still present.
The situation with the environment and pollution is critical due to a high number of factories and plants across the city (OECD). Hence, the amount of solid waste and emissions into the water is dangerous for the residents. Such a factor leads to the relevance of environmentally friendly facilities in the city in order not to deteriorate the situation.
The products for both import and export play a crucial role in the planning of Bangkok’s market. Thus, the major products for export are the office machine parts, cars, and delivery trucks, whereas the most popular export destinations are China, the US, and Japan (OEC). On the contrary, Bangkok residents import gold, vehicle parts, and crude petroleum from China, Japan, and Singapore. The aforementioned relations show that even though Thailand in general and Bangkok, in particular, tend to cooperate with mostly Asian marketplaces, they are open for international collaborations.
Taking everything into consideration, it can be concluded that Bangkok, despite its flaws, is a cost-efficient marketplace for businesses. Such an advantage is mostly provided with the help of developed infrastructure and multiculturalism present in the area. Panera, being a famous food chain in America, may not become as successful in the Asian market, but it has all the chances to find a proper target audience interested in Western culture.
Works Cited
“Bangkok Population 2020.” Web.
OEC. “Thailand (THA) – Exports, Imports, and Trade Partners,” 2017. Web.
OECD. “Economic and environmental performance in the Bangkok Metropolitan Region,”. 2015. Web.
“Sustainable Management of Natural Resources.” (2017). Web.
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