Global Marketing Strategy Assignment Example | Topics and Well Written Essays - 3000 words

Global Marketing Strategy - Assignment Example The second part of the study will be discussing the experience of 24/7 Stop as the primary provider of non-food commodities in the country. This part of the study will be covering the existing strategies that 24/7 Stop is engages in, such that they stay on top of the non-food retail industry. The paper will compose of the analysis of the company itself as well as the industry that it thrives in, particularly the non-food sector of the retail industry. The tools to be used in this examination include the analysis; analysis of its PEST and Porter's Diamond Model . The last part of the study will consist of a set of recommendations formulated by the researcher based on the results of the tools used in the analysis of the industry and the company. Thailand has done remarkably well since the beginning of the economic reform movement in 1978 (Wu, 1996). Between 1979 and 1995, Thailand's GDP grew at an average annual rate of 9.5 percent. Thailand's exports grew even faster and Thailand now ranks among the world's top 10 exporting economies. Moreover, Thailand's entry into the WTO will make Thailand's door even more open. Both foreign investment and foreign trade are expected to increase (Chow, 2000). Foreign firms will begin to penetrate Thailand's financial and telecommunication sectors. Trade will increase in both directions and Thai tariffs will be lowered and Thai goods will have better access to world markets open to members of the WTO. Using foreign competition to stimulate the domestic economy is a major objective in seeking to join WTO, as explicitly stated by the government Bangladesh has become a pioneer in the international garments industry as she is a major exporter of garments in the world which is very helpful in the country because it contributes not only to the country's GNP but also for a number of reasons like for example it had created a number of jobs. The country had created many new jobs of about 1.5 million, mostly for women - have been created by the country's dynamic private ready-made garment industry, which grew at double-digit rates through most of the 1990s. Despite the country's politically motivated general strikes, poor infrastructure, and weak financial system, Bangladeshi entrepreneurs have shown themselves adept at competing in the global garments marketplace. Bangladesh's exports to the U.S. surpassed $1.9 billion in 1999. Bangladesh also exports significant amounts of garments and knitwear to the EU market. The country has done less well, however, in expanding its export base-garments account for more than three-fourths of a ll exports, dwarfing the country's historic cash crop, jute, along with leather, shrimp, pharmaceuticals and ceramics (Bangladesh Garment and Exporters Association, 1997). Bangladesh' overview in their economy has made significant strides in that sector since her independence in 1971. Although the economy has improved vastly in the 1990s, Bangladesh still suffers an image crisis due to her civil war period of early 1970s. Despite major impediments to growth like the inefficiency of state-owned enterprises, a rapidly growing labor force that cannot be absorbed by agriculture, inadequate power supplies, and slow implementation of economic reforms, Prime Minister Sheikh HASINA Wajed's Awami League government has made some headway improving the climate for foreign investors and liberalizing the capital markets; for example, it has negotiated with foreign firms