Please Help (ONLY SERIOUS ANSWERS PLEASE) We are doing an international project
ID: 335026 • Letter: P
Question
Please Help
(ONLY SERIOUS ANSWERS PLEASE)
We are doing an international project for a class, where we have to choose a global product and introduce it to a foreign country, for this project we have decided to use the brand of '' Bimbo '' (the brand of bread), we have done a little research and apparently there is no Bimbo in Germany, so we are using to use Germany. What I need is to Compare/Constrast with the competition such as product feature, brands, packaging, price , dsitribution , etc. So the question is:
To compare/ constrast the competitors of Bimbo as a new brand with the German bread brands
(Thank you, and if you can please share refrences)
Explanation / Answer
I will suggest you to do the following two exercise
1. As you are entering in the New Market for you like Germany, you must do a Porter five force analysis to understand the Industry competition first.
5 Forces of porter analysis are as below (you may refer Michael E. Porter, Competitive Strategy)
a. Supplier bargaining power: How important and powerful they are
b. Consumer bargaining power: How much bargaining power is there in consumer’s hand
c. Threat of substitute products: What are the products which can easily substitute the bread
d. Entry barrier in industry: How difficult it is to enter in the industry for new entrant
e. Internal Rivalry: How stiff the competition is among existing companies.
Once you complete the Porter's 5 forces analysis then you analyze those brands which cumulatively occupy at least 50% market share in bread as category.
- In order to compare the brands you can do the following exercise
a. SWOT analysis of each brand ( Make a table of strength, weakness, Opportunities and Threat for each brand with respect to the Germany market)
b. Perception map for each brand ( Refer Kotler and Keller, Marketing Management_ 14th Edition Building strong brand)
This will help you understand the market insight in a well-defined manner and it will easy for you to formulate the marketing strategy which will suit to your brand.