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June 27, UsefulResearchPapers Research Papers 0 Introduction The contemporary economy is characterized by the process that is traditionally defined as globalization. As a result, any company operating in the market has to take into considerations this trend in order to remain highly competitive and keep progressing.
In this respect, it is worthy to note that in such a context one of the strategic issues practically all companies, which plan to really progress, has to focus on the enlargement of the markets and, consequently, the entering foreign markets is getting to be of a paramount importance.
In terms of this marketing plan, the perspectives of the pharmaceutical company entering the market of Oman with the new product for this country Rennie will be analyzed along with the analysis of the current macro and micro economic environment within the country and the industry.
It is necessary to underline that the successful entering the Omani market is impossible without the profound marketing research, especially in the situation when numerous foreign companies have already had certain experience in the local market and there are some strong and highly respectable companies that are well-known worldwide.
At the same time, this makes the entering of the Omani market particularly important since it opens new opportunities for the company in the new market which is fast growing. However, on researching the entering of new product, it is necessary to take into consideration not only the current trends in the industry or qualities of the product solely but also it is necessary to focus on the current socio-economic and political situation in the country since Oman is quite a specific country, especially if the company entering the product get used to operating in Western countries and does not really have sufficient experience of operating in the markets of developing countries of South West Asia.
Macro environmental Company analysis research paper First of all, it is necessary to start with the macro environmental Company analysis research paper in order to properly assess the present situation in the Omani economy and probably to better understand the general climate within the country in relation to foreign companies and the place of Oman in the world economy along with its basic economic characteristics.
In fact, the analysis macro environment in such countries as Oman is of a paramount importance because this is a developing country which potentially may have problems typical for this category of states and which can make the entering of Rennie rather problematic or difficult.
Basically, developing countries are characterized by political as well as economic instability and low level of development. In the case of Oman, it should be pointed out that the political situation in the country remains relatively stable, though it is worthy of mention that, to a significant extent, this is the result of the fact that Oman is practically an absolute monarchy.
To put it more precisely, the head of the country is the hereditary sultan who appoints the government to assist him.
Only in recent years, there appeared an elected advisory council in Oman but its functions are quite limited and only the sultan is the absolute ruler of the country. Obviously, such a situation contributes to certain stability within the country as long as there is no strong opposition to the ruling sultan.
On the other hand, the absolute power of the sultan creates a number of problems a company entering the national market will have to deal with.
For instance, the absolute power means that everything depends on the will of the sultan only and there are practically no democratic means to influence the situation in the market of Oman.
Practically, it means that the stable and profitable work of foreign companies in Oman depends on the political will and interests of the local sultan.
At the same time, such a political situation affects dramatically the national economy since, being an absolute monarchy, Oman can hardly be classified as a country with an open market economy. Consequently, there is a risk that the free market competition within the country may face some constraints from the part of political powers of Oman and it is extremely important that the government, or to put it more precisely, the sultan does not interfere in the economic situation within the country.
Otherwise, it will be quite difficult to enter the market with the new product such as Rennie if the domestic economic policy is unstable or changes very often. In such a way, it is possible to estimate that economic development and policy of Oman is highly dependent on the political situation and, what is more, on the will and intentions of one person only, i.
Nonetheless, this is rather a potential risk that a really serious obstacle at the present moment. In actuality, Omani economy is dynamically progressing though, typically for developing countries, it is oriented on one industry only.
In fact, this is the only industry that provides Oman with an opportunity to gain its place in the world market and, at the same time, provides the country with essential revenues from oil trade that contributes to the development of the national economy and sustaining of social stability within the country.
Rennie, entering the national market. Nonetheless, the recent changes and the involvement of the country in the world economy due to the oil trade made the local population more open and more confident in foreign investments and companies.
In this respect, it is necessary to point out that basically the country is characterized by certain backwardness though the highly profitable oil export made the country richer that provided amply opportunities for a substantial technological progress.
Nonetheless, the current situation in the country is not very optimistic for the local economy since Oman is still highly dependent on foreign technologies, including oil industry where the country is quite advanced. In brief, the country exploits natural resources, develops national economy and industries but, basically, uses foreign technologies and equipment while local ones remain hardly competitive.
This is why it is possible to forecast that the entering of the new product, notably Rennie, will hardly face serious resistance from the part of the local companies if it is highly technological and sophisticated. In general, it should be pointed out that at the present moment the pharmaceutical industry is rapidly growing in Oman.
This is why the Rennie entering the Omani market is getting to be particularly important and the sooner the product will be introduced in the local market the better it is for the company. Otherwise, if the time is waste, the company will face a number of problems and obstacles while entering the product.
In such a situation, it is important to underline that the SWOT Table 1 analysis reveals the fact that the company and its product, i.
Rennie obviously have certain strengths in the entering the local market. First of all, it is necessary to point out that the product is internationally recognized that naturally contributes to the higher confidence of potential customers in the reliability and effectiveness of Rennie.
Furthermore, the company has experience of entering the market of different countries, including developing one that obviously increases its chances on a successful introduction of Rennie in Oman. At the same time, the experience of the company also contributes to the flexibility of its policy depending on the specific characteristics of the local market.
Also, the company is basically characterized by a very careful approach to the development of marketing strategies for every particular market the product is suppose to enter that makes it possible to presuppose that the strategy of entering the product will be quite efficient.
At the same time, it is equally important to underline the high professional level of people working in the company that makes the perspectives of Rennie in the Omani market rather positive than unclear or negative because high professionalism will naturally lead to positive results in the situation when the local pharmaceutical market is practically open for foreign companies and products.
In such a situation, there is no wonder that he opportunities for Rennie to gain a large share of the local market is extremely high, especially taking into consideration the rapid development of the pharmaceutical market of Oman.
To put it more precisely, according to Oman pharmaceutical and health care reportthe Oman pharmaceutical market have demonstrated the stable growth within the last decade basically in the result of the positive economic and demographic trends. At the same time, it is worthy of mention that the positive forecast of the development of the pharmaceutical industry in Oman and, consequently, ample opportunities for Rennie to gain a large share of the local market, is based on the recent trends which indicate at the expansion of the health care sector and drug industry modernization.More business essay samples, company analysis essay samples, economics essay samples, management essay samples, marketing essay samples JB Hi-Fi Company Review – Essay Sample JB Hi-Fi limited is a company that is based in Australia.
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