Determining Suitability Of The International Market Based On Criteria

It is also easy for many other companies to set up headquarter in Singapore as their starting point in Asia to make it possible to reach to its market point. In addition, Singapore is unique in different lifestyles and culture. It is also known for its capability of attracting sizable foreign investment, pro-business environment and entrepreneurs. Singapore focuses more on a knowledge based economy which can be seen in its education sysem. Furthermore, Singapore is located in the heart of Asia and it plays an important role in international

2. Your Assessor may want to discuss written answers with you to get further evidence of your understanding and to check that it is your original work

4. Do a country’s imports completely measure the market potential for a product? Why or why not?

Discuss which of the promotional strategies above you believe are most suitable for TTNQ in the identified country. You should select at least two promotional strategies.

Singapore has a highly developed market which has historically revolved around extensive exports trade, in other words an export driven economy hugely dependant on export of goods to other countries.

In terms of economic analysis, it includes factors such as economic growth, interest rates, exchange rates, inflation, disposable income of consumers and businesses (Oxford University Press, 2011). Red Bull needs to be aware of the currency rates which will have an impact on its international production capacity. For example, if Red Bull maintains its manufacturer only being in Austria, Red Bull is subjected to the fluctuations of currencies whereby when foreign currency depreciates, it will affect the production cost to be higher.

Singapore is a high income economy of GDP $307.9 and $55,150 per capita income as of 2014. According to the World Bank reports Singapore

This will boost the economy of Singapore as when more companies are willing to invest in Singapore, especially due to our strengths like competitive workforce and strategic location, it will result in greater influx of capital. It will also result in a creation of jobs for the people, boosting employment rate and generating revenue for both the country and the individual. Take for instance, the chip used in the latest PlayStation3 and Xbox. A French semiconductor company, Soitec, is investing $700 million to set up in Singapore its first offshore facility to make the wafer for this chip. The wafers involve alternating layers of silicon and insulator, unlike conventional wafers which use silicon throughout. Soitec is coming here because its technology has to be well-protected, and we are the only country in Asia that they trust well enough to set up their first manufacturing campus outside of France. Thus, positive development is a sure thing with globalization. Furthermore, since in the modern day context, money is a key indicator of happiness, thus, Singapore’s development can be mirrored by the happiness of the people with their monetary needs fulfilled.

Singapore has a capitalised mixed economy. Having strong international trade links, Singapore possesses one of the most open economies for international trade and investment. Singapore offers foreign investors a pro-business environment, excellent infrastructure, highly-skilled and cosmopolitan labour force, and a robust legal/judicial system. These competitive factors have set Singapore apart from other locations, winning several accolades including: §

The Singapore economy has performed well over the past 10 years with an average annual GDP growth of 6.3%. GDP per capita has also doubled from US$27,403 in 2004 to US$55,183 (S$69,091) last year which ranked us in the 9th spot

Announced by BBC News, Singapore is ranked at the top as the “Easiest Country to Start a Business” and “World’s Top 20 Most Globalized Nations". One of the main reasons is because of Singapore’s strategic location is at the heart of ASEAN (Association of South East Asian Nations). This enables the business to be access up to 8 billion people within a seven-hour flight radius.

In addition it is worth considering that emerging economies having been attracting increasingly more Foreign Direct Investment (FDI) having accounted for 52% of global FDI inflows according to recent data. Looking closer at the FDI spread based on regional allocation it is worth noting that Nigeria received the greatest proportion of FDI in Africa, Indonesia in South-Eastern Asia, Mexico in Central America and Turkey in West Asia. This demonstrates the investment potential within the MINT

There are many reasons why Singapore has been able to attract large volumes of foreign direct investment (FDI). The most important of these are its liberal investment climate, its stable and incorrupt political and business regime, its world-class infrastructure, its highly educated workforce, its competitive economy and its favourable tax system (which includes special incentives for FDI).

"Home to some 4.48 million people (based on the last census in 2005 reported in 2006), Singapore is the fourth most densely populated country in the world and has one of the highest per capita gross domestic products in the world."1 The employment rate is 2.40 million (June 2006), with unemployment at an all-time low at only 2.5 percent. The labor force consists of mainly manufacturing, transportation and communication, construction, and financial, business, and other services. Singapore is orderly, prosperous, and modern. According to Richard H.K. Vietor, a Harvard Business School professor, Singapore, along with

 A market analysis of your chosen country, including potential for growth, size of the market and trends in tourism and any other factors you