Paramount Furniture Marketing Opportunities

Davinder Kumar

Task 1

My company name is paramount furniture which is at New Zealand. we made a lot of products like sofa, area suites, mattresses, chairs and sofa foundation etc. we live also selling a coffee desk and dining dining tables. Recently we start making a love suites and New Zealand people very like them. Now we think about export the love suites in international market like Dubai, Germany. If we export our products to Dubai and Germany we can get lots of money and in this manner, our business become growing. We made love suites with New Zealand pine real wood, good quality of foam and fiber content.

love suite

Task 2

Environmental factor:

Political factor

Political stability - In the event the politics factor is not steady anticipated to any reason so it will bad effect on our exporting products because people won't buy our products scheduled to any attack and warfare. In Germany, the politics factors aren't stabile some so they effect on our production, but in Dubai the politically steadiness so they continuous buy love suites from our company

Corruption risk - Dubai is count up in a low-crime and politically-stable country. Also, the UAE appreciates with financial and financial stability. So, paramount furniture can simply be coping with Dubai. It is well-developed, cultured bank operating system features wide credit services. On the other hand, there are extensive corruption risk in Germany like make fraudulent documents and illegal offers. But these types of problem is not influence on international marketing.

Legal and regulatory requirements - In Dubai and Germany, everyone follows the federal government regulations. So, we can export our love suites easily and legitimately in the Dubai and Germany. Because if people carrying out work with all rules and regulations so the country's administration also helps him.

Trade structure - Germany is another largest country which export lots of products from another countries and Dubai is the next largest country in the world. So, paramount furniture interacting easily with these countries. Because these countries mainly export lots of products from other countries.

Economic factor

GDP per capita - Gross domestics products has four main factors like federal expenditure, investment running a business, export & transfer, personal feeding. The GDP in Dubai and Germany are very good for exporting any product. So, we can export our product easily with these countries. The pace of exchanging the money are inspiration the distribute and import in country.

Income distribution- The income distribution has put bad influence on international marketing in (Dubai and Germany). Because every people is not abundant with these countries, the poor people buy cheaper products off their countries. So, it'll put bad influence on paramount's products.

Foreign exchange- Every country coping with US money in international market, Dubai and Germany also dealing with US buck in international market. In the event the dollar price change it out will also effect on the export and import business. If the dollar price increase it will good for paramount furniture's product that they are export to the Dubai and Germany usually it will bet for paramount furniture.

Economic cycle - Business cycle is called monetary cycle. Economic routine has four stages in business successful, growing, slump and downturn.

Sociocultural factor

Linguistic fragmentation - It is called difference in words. The linguistic fragmentation is also effect on international marketing. Because atlanta divorce attorneys country people speak different languages like in Dubai mostly people speak Arabic and in Germany people German so many people don't understand British language. So, people which are resided in Dubai and Germany they didn't understand British. That is why they impact on paramount furniture's product because if the paramount furniture export their products in these countries they'll work with a translator.

Culture factor- Sometime this factor also effect on international marketing. Because in every country there are different people plus they believe in several culture. Some individuals respect to the all culture but some people don't like other culture. So, the culture factor impact on paramount furniture exporting business because in Dubai and Germany people are extremely seriously interested in their culture and they're not need to coping with other culture's people.

Lifestyle patterns - Lifestyle factor also impact on international marketing because in NZ usually people like small sofa packages according their houses however in Dubai mostly people are incredibly rich plus they like big sofa models but there are middle class people reside in Germany so they like the sofa placed corresponding their lifestyle.

Dominant values- There are various people live in several countries like in Dubai mostly people are rich as compared to Germany, sometime wealthy people dominant other folks using their money ability. so, dominant principles effect on the international marketing.

Technological factor

Level of technological skills- The technical skills also impact on international marketing because the technology is very important for business in these age, everyone rely upon technology. Paramount furniture will easily package with Dubai because they have got very good technology but Germany has a minimal technology system. So, it'll effect on marketing.

Existing creation technology- This is very important technical factor and they impact international marketing because if paramount furniture wants to export their products to Dubai and Germany so, they must have a large creation of these product. If the business's creation rate high they can have more profit to supply their product in Dubai and Germany.

Education level- Education is must important in every field, if you have education you can do a good business easily. this factor also impact on business because if company have a good educational staff they can deal easily with other countries. Paramount furniture picked good qualified staff for coping because in Dubai and Germany, the education system is very good. So, we are easily dealing with both of these countries.

Cost involved- Money is very important in business field. So, the price factor also impact on international marketing. For example, in these times' technology change daily and every company upgrade their system with new technology but it's very expensive so the paramount furniture spent lot of money on upgrading their system. In this way company's have more profit because everyone use technology running a business field.

Task 3

Geographical factor

Physical size of country- This factor also effect on international marketing. For instance, there are 4. 4 million people in Dubai and 80. 6 million society in Germany but the economics of Dubai is good as compare to same so paramount furniture will getting ultimately more profit from Dubai because Dubai economical is very abundant so mostly they buy international product.

Economic of Dubai

Economic of Germany

Topographical characteristics- These characteristics are identical to the physical size of countries factor but this factor concentrate about the area about countries. Dubai has a 4, 114-kilometres square and Germany have a 357, 168-kilometres square so the Dubai has a less area when compared with Germany.

Climate conditions- Climate condition also results on the international marketing. Dubai has a hot desert local climate condition. because the Dubai positioned in the northern desert belt and Germany has a very good weather conditions because it is a temperate country with warm summers and wintry winter. Mostly people buy new things in good warm weather so the environment condition of Dubai and Germany aren't effect on paramount furniture's products.

Demographic characteristics:

Size of populace- This demographic characteristic also effect on international marketing because if any country has a huge people so in these countries there are definitely more products requirements than others countries. In Dubai, there are 4. 4 million people live there and 80. 6 million inhabitants in Germany. So regarding paramount furniture they need to source more cheaper products to Germany as compare to Dubai because the overall economy of Germany is not very good but human population of Germany is more than Dubai.

Rate of people expansion- The rate of populace development is also impact on international marketing because every product wants according the population growth. If the population rate is saturated in any country therefore the products demands is more. Within the Dubai, there are 10% society increase in annually but there are only 0. 2% inhabitants increase in Germany every year. So, paramount furniture will be getting ultimately more benefit from Dubai in future corresponding the speed of society.

Age composition- This factor effect on the transfer and export business because the young era (20 to 30) and middle era (30 to 60) people buy more products than other people. Paramount furniture done some review about the age range of men and women in Dubai and Germany and relating the survey typically 20 - 6 0 years of age people stay in both of these countries. So, paramount furniture can be working easily with these countries and folks will loves the paramount furniture's product.

Distribution- The syndication is very important element in international marketing. Every people needs products immediately when they purchased. So, paramount furniture should have good circulation system for interacting with Dubai and Germany. For instance: if customers not obtain their product on the time so they'll never advertise your products plus they refer to their relatives to make use of other company's products. It'll be bad for company's productions and sales. So, paramount furniture should have a good syndication system.

Income- Income is also most important demographic element in the import and export business. If people's have a good income so they buy new products but many people aren't very abundant with this world. Inside the Dubai, mostly people are abundant and overall economy of Dubai is also very abundant on the other palm Germany overall economy is not wealthy and mostly poor people are in Germany. Paramount furniture will get more profile for coping with Dubai as compared to Germany.

Task 4

4. 1 International trade contract highly relevant to New Zealand (Dubai and Germany)

New Zealand trading a lot of things in to the international marketing. New Zealand export plenty of products to Dubai and Germany like furniture, kiwi, solid wood, milk, meat etc. The Dubai is the 2nd largest spouse with Asia union. Many New Zealand companies export furniture to Dubai and the Dubai is the main one of the country which helps the New Zealand economy development. There are 178, 835 roughly products New Zealand export to the Dubai plus they earn 40 million NZD in time 2015. On the other hand, interacting with Germany the full total product export by New Zealand to Germany was 78, 567 in yr 2015. There exists available door trading arrangement between these countries. The contract of the countries shows the high charges of eliminate and submission cost is cut down for goods exporter. This contract creates a lot of opportunities for careers.

4. 2 International market probable of a fresh Zealand service or product.

The market probable is the full or maximum overall sales earnings of the investors during the once. The market probable show the specific market capacity for providing the many opportunities for the staff. The export between New Zealand and Dubai is jogging very good because New Zealand earn a lot of benefit from Dubai. It will be very good in the foreseeable future. However in the Germany the trading system is not good between New Zealand because Germany economy is bad. The protecting income of the Germany and Dubai are the favour of importing products. Many money will come in our company from the FOREX this is the biggest factor of exporting the goods.

Conclusion

According to me paramount furniture will earn more earnings in future from Dubai due to its population and abundant economy. They are doing follow the all rule and regulation prior to the interacting with Dubai and Germany. Paramount furniture helps the brand new Zealand economy around dollar.

Recommendation

  • Paramount furniture should be read all trade arrangement before dealing with other companies.
  • Paramount furniture should be interacting with US money to other countries before deal.
  • They should be check all documents and paper work before interacting.
  • They should export the cheaper products to Germany.

References

www. paramountfurniture. co. nz

http://www. dubai. ae/en/aboutdubai/Pages/DubaiEconomy. aspx

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