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Economics Essay

1356 words - 6 pages

Fictional Start- up Company entering a Foreign Non- U.S. Market

Abstract

This paper will provide information on a new company named Nations Trading Guild (NTG) entering the export business in a foreign market in Copenhagen, Denmark. The type of goods provided will be covered in this paper along with the marketing and branding techniques that will be utilized to advertise and sell the goods. In addition, the culture of Denmark will be discussed and the reader will be able to see how this new company will be providing a great service.

The Nations Trading Guild (NTG) is a U.S. based company based out of El Paso, Texas. The National Trading Guild owns one of the world’s largest ...view middle of the document...

All National Trading Guild packages will contain shipping documents translated into the Danish language as a means to familiarize our new international customer with U.S. beef and the most frequently requested cuts. Also products can be cut to meet the consumers’ needs and packaged in heavy duty boxes with plastic liners, individually wrapped pieces or vacuum package materials to guarantee freshness and a ready to cook status.

Research was conducted on the present meat market in Copenhagen, Denmark and an evaluation of the market potential for The National Trade Guild was assessed. Currently, Copenhagen Denmark has a very stable economy and currency conditions, member of a European Union, flexible policies on residency and establishing business, reasonable taxes and the World Bank ranks Denmark as the easiest place in Europe to do business. In addition the current market competition was assessed, potential customers, growth opportunity and cost. The competition for The National Trade Guild’s product is very minimal due to Denmark monitoring the use of antibiotics used in the meats in which they consume. Due to this change Denmark receives most of its meat (steaks) from within the countries boarder from Poland and Australia. Poland produces some cuts of steak but more chicken, pork, beef quarters, livers, tongues and more. Australia exports large amounts of frozen grass-fed beef, to the United States and only does a small amount of exporting to Copenhagen, Denmark this could potentially turn into a partnership. On a positive note, The National Trade Guild produces organic Steaks with no chemicals used to make the host animal produce more meat or grow faster.
The cost to import goods from the United States to Denmark was last calculated by the World Bank in 2013 coming in at $ 745.00 per container. Included in this fee a 20 – foot container, shipping documents/brochures, administrative fees for customs, terminal fees, handling charges to include inland transportation, and customs brokers fees. The taxes are minimalized due to the Free Trade agreement between the United States and Denmark.
In order to successfully market The National Trade Guild as a good company that produces good products a strategic marketing plan has been put into place. The First step in the marketing plan was to identify potential buyers for the products. A few sources used to ascertain this information were; reviews of the top steak houses in Copenhagen, Denmark and surrounding areas, the state of the economy on data world bank.com, specialty markets and meats sold at these markets and a review of U.S. meats export Federation to see where Denmark is currently receiving goods from.

The Second step in the marketing plan was to determine the method in which to market. In order to reach the most people the following forms of advertisement will be used; radio, free newspapers named Berlingske Tidende and Politiken which are prominent in Coenhagen, and the...

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