Australia is the second best-ranked country in the entire southern hemisphere, and the 13th in the whole world, most improving for starting and running a business. Australia has lowered the rental expenses, deployed an educated workforce, and an ample space for business people to venture in.
Other attributing factors that can predict starting Cooling Jacket Company in Australia can thrive in the fact that: The Australian government has heavily provided grants and resources to help run entrepreneurship; the ecosystem in the country has improved for the last three years and friendly government policies. Much small business has turned out to be large and has flourished.
Taiwan may not be a suitable place to set the company because of its harsh business plans; the weak relationship with mainland China and the external sector readily determine its economy. Australia has been a neighbor of Taiwan will be a convenient place for a cooling jacket company to set in the country.
Australia has a better and favorable business environment than Taiwan, which translates the operation cost would be smaller than in Taiwan. It is also evident that Australian society is worldly known for having the highest export rate. The country has regulated and abolished its tariffs and quotas for the neighboring countries through the free trade market.
Northern Taiwan has a sub-tropical climate, while the southern region has a tropical climate. In winter as well, the weather is always cold because of northeasterly winds. Across the gender, that is, men and women of the region are fashionable and have an interest in trendy clothes and accessories. Therefore, cooler jacket products will serve both the purpose of relief from the scorching heat of the climate and as stylish clothes.
When a new company is entering a new market, it needs to maximize its profit no matter the unforeseen hindrances factors. Therefore, the cooler jacket company needs to strategize on the mode of market entry mode. In our case, Cooler Jacket Company will be operating outside the country where its customers are abroad. The importance of drawing appropriate methods to reach for their clients requires a broad approach. There are many market entry modes that are a success to the business. They include many, but one of them is:
- a) Partnership strategy.
The partnership is a requirement in the foreign market the parties need to thrive. Partnership impeaches the unknown in the market. Therefore, the other company will provide knowledge about the market. For Cooler Jacket Company, will require understanding the social and culture of your partner. The partnership helps to share risks with other partners and influence each other’s strengths. The joint venture should bring partners who have like objectives about the market of entry, risk of market entered, and the technical know-how.
For the Cooler Jacket Company to outdo their competitors, they must consider in two broad areas.
- i) The production supports in Cooler Jacket Company
They include ways to raise the raw materials for the company. The personnel that the business requires, both professionals and skilled workers. The products that the firm is producing must meet the need of the market.
Product support also includes the manufacturing specification. The specification gives the necessary foundation for administrators to provide a high-quality product. Product management is a company lifecycle that functions on planning, forecasting, or marketing of a good produced. Cooler Jacket requires data management, for example, for the need to know the time the product has been in the store.
Packaging and Labelling also plays a crucial role in marketing the Cooler jackets. They give an excellent image and brand to the company’s product.
Ii) Sales support for cooler jackets
Product promotion is creating awareness about a new product in the market, increase sales, and enhance brand recognition. Cooler Jacket Company must lay mechanisms to reach the customers more so who are outside the border (Taiwan for our case).
Among the strategies include advertising. Advertising campaign involves giving discounts, free samples, and other convincing ways.
Another approach is that the demand-driven approach. The method target resellers like wholesalers who deal with bulky goods and retailers. The other approach Cooler jacket company may use the pull strategy. The plan targets end-users as customers. The pull approach is helpful to expensive products. The use of door-door sales, internet campaigns, and contests.
In a nutshell, Cooler Jacket Company has an opportunity to thrive despite being outside the marketplace. The above strategies can lead to maneuver the cooler jacket product in the market.