IntroductionThe purpose of this research essay is to come up with a plan on how to promote and market a local brand (Boti Coldbrew) into Canada using methods that are learnt. Boti Coldbrew originated from Lampung which serves a variation of coffee beans such as Aceh Gayo, Kerinji, Ijen and many more. Extra flavours such as passion fruit, honey and tamarind could also be added to make your coffee a little more unique. The country chosen to promote this particular brand would be Canada and not India is because Canada consumes a lot more coffee per capita; about 6.
5 kg to be exact according to the The Telegraph UK as of October 2017. In 2014, coffee accounted for approximately 67 percent of the hot drinks market, and in 2015, each person in Canada were able to consume roughly 100 litres of coffee. Of course, that being said, this would mean there would be major competitors there such as Tchibo, Tim Hortons, Top Shelf Coffee, and many more; which is why acquiring background knowledge is required.Apart from the facts about coffee consumption in Canada, important information such as Foreign Market Entry Modes are required as we are trying to market a local brand somewhere else.
There are four methods which are exporting, licensing, joint venture and foreign direct investment. Exporting is when a domestically-produced goods are marketed and directly sold in another country. It is a good way of reaching foreign markets as it does not require the production of the goods in the target country and there is also no investment of production facilities is required in said country. This could potentially be a good method to enter, however, as mentioned above there are bigger and potentially better competitors out there and it would be difficult to gain customers. The second method is licensing, which allows a company in a target country to be able to use the goods or services of the licensor.
This might not be ideal for this specific brand as it is not much of a franchise like McDonalds or KFC. Another entry mode is Joint Venture which essentially means that a company is partnered with another company in the target country and will be sharing objectives such as market entry, risk/reward sharing, technology sharing and joint product development, and also conforming to the government’s regulations. This might be a good method to gain reputation but of course there are risks that needs to be taken into account. The last method is Foreign Direct Investment, it basically means a company is the direct ownership of the facilities in a specific country.
They are involved in the transfer of capital, personnel, and technology resources. MethodologyData will be collected through credible sources over the internet, an example would be International Relations EDU, and many more. These sources cited are credible and legitimate and will provide guidance to properly support and structure out the arguments made throughout this research paper. There will also be two interviews with two separate people which have a common interest, in this case is business and marketing, and their answers will be used as examples and more facts to further shape the argument.