aus soybean

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aus soybean

Assessment 1

Task 1

  • Develop a list of potential market for Australian soybeans in Asia
  • Japan

  • Japan market is considered as a main market for soybean business because there is a high demand of soybean consumption in Japan. In addition, Japan is good market for exporting business because it has good economy; people have good salary so they have potential to afford our product. Japan also has stability in politic, so investors can rely on political situation.
  • Thailand

  • Thailand is one of interesting markets in Asia due to some important factors. Firstly, Thai government supports export and import business; there are some policies about encouraging foreign investment in Thailand. The demand of soybean consumption in Thailand is also high compare with the other counties; food industry has expanded 3-5% a year in Thailand. Moreover, Thailand has no any barrier or limitation about culture and climate that affect our product.
  • Indonesia

  • It is a great opportunity to export our product to Indonesia because supply for soybean is not sufficient for demand of soybean consumption in Indonesia. Also, Indonesian like to consume international brand products because they believe in standard, Australian standard is reliable in quality. As a result, we should consider Indonesia as one of market targets.
  • Describe key approaches to entering international market
  • Suitability of your product in the market in relation to cost, quality and service (leave it)
  • Explain how your company will analyze and use marketing information for the product or service to be marketed.
  • This question focuses on analysis of PEST analysis in each market which is chosen for exporting soybean.

  • Discuss various ways to enter into Asia soybean markets, which is the best.
  • I think “Joint ownership” is the best method because Joint ownership is sharing ownership and control with the other local firms, those firms might support us in controlling and management. In some issues, local companies can do it better than international company such as how to distribute products to local people or some political policies. To be successful in business, better to have strong commitment with local companies that can support our business.
  • Task 2

  • Explain how you will identify attractive market segmentations for soybean and choose a marketing targeting.
  • ......

    aus soybean
    Last updated: Feb 2024

    Page 1

    active market segmentations for soybean and choose a marketing targeting.

  • Food industries
  • Soybean is in demand of Asian food industry production because of the increase of soybean products such as tofu, soymilk, and soy sauces. Those products are beneficial in term of protein source.

  • Animal Farming
  • Southeast Asia’s animal feed production will continue to consistently grow by at least 5%-6% annually over the next few years, with an expanding aquaculture sector playing a crucial role due to higher imports of marine products. The rising production of animal feed will likely push up imports of soybeans, soy meal and corn in Southeast Asia, supporting already-high prices.

  • Soy oil
  • Using soybeans as a fuel product has gained momentum because high fuel prices have made it economically feasible to use renewable agricultural products in green fuels such as ethanol made from corn and sugar and biodiesel fuels made from soybean oil. Biodiesel fuel made from soybean oil is being used more and more as an alternative to pure petroleum-based diesel fuel. Biodiesel decomposes as quickly as sugar and is 10 times less toxic than salt.

  • Leave this question
  • Identify available marketing strategic options and select the targeting strategy that best meets the requirements of the marketing plan for soybean into Asian market.
  • For my opinion, a food industry is the best target for our product because it is a huge market. Soybean is needed for manufacturing for many products which are in demand of people’s consumption. Although it is indirectly needed for the market, it is in long term demand.

  • What are the likely advantages/disadvantages of Smart Bean Power expanding into Asia, specifically Japan?
  • SWOT analysis
  • Task 3

  • Leave this question
  • What would be your media preference for your potential consumer?
  • I choose food industry because it is a large market and easy to access to the consumers. The media type should be TV, radios and newspapers because consumers can come from all type of people, kids, teens, adults and elder people in both males and females. However, main group who make decision to buy products are adults from 20 – 60 years old. Those people like to watch TV, listen to radio and reading newspapers everyday. So these Medias are useful to access to the consumers especially TV because almost all type of people watch TV everyday.
  • Leave it
  • Discuss the strategy to overcome the barrier of different language and cultural factors.
  • ...

    aus soybean
    Last updated: Feb 2024

    Page 2

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