Foreign Market Analysis Essay Example | Topics and Well Written Essays - 1250 words

Foreign Market Analysis - Essay Example product. The feel good factor is that it is pro-American country with the Filipinos and their government having very friendly relations with the U.S. The Philippines is the 19th largest export market of the United States with an approximate annual export of $8 billion. For launching a new product by JF’s Electronics, the Philippines can be the perfect launching pad as people there have liking for the U.S. products. Language is not a barrier, as the Philippines is the third largest English speaking country (buyusa.gov). The Philippines market environment for the mobile phone products, called the Cellular Mobile Telephone System (CMTS) is quite encouraging for the U.S. products. Let’s review different environmental aspects related to the Philippines economy, politics, legal, regulatory, technological, and social factors to ensure that the JF’s Electronics would succeed in providing a secure international platform to its new product – customized mobile phone. JF’s Electronics new product – the customized mobile phone would find a ready and ripe market as the mobile phone is a favorite digital device of the Filipinos. More than 22 million Filipinos have a mobile phone. The number of mobile subscribers is growing fast; in 2004 the growth rate touched to 34% to more than 30.2 million. In Short Messaging Service (SMS), this country is the world leader. As per the market report, carriers cover more than 200 million text messages a day in Philippines. The above scenario projected by the U.S. Commercial Service regarding the mobile phone market and the Philippine’s 100 years old friendly business relations with the U.S. are enough to build up confidence of the JF’s Electronics to enter in the Philippines market with its new product launch, i.e. customized mobile phone (buyusa.gov). The Philippines imports in electronics are into raw material to be used in export processing locations. Consumer goods, a subsector of electronics industry are 0.93