i will post all the information you need to use to write this summary. I guess 3 paragraphs is fine but not less than 3 (not double spaced, single spaced) . please do not use google or anything other than what i clip onto this document. the prompt is at the end of the summary. i will post a picture of the matrix and everything needed to write the summary. and i also chose to talk about the UK not Vietnam or Uraguay. so it should be only about Uraguay
You are the newly-hired International Marketing Department of PureTan, Inc., a company based in Miami, FL. PureTan, Inc. manufactures and distributes a variety of sunscreen products with SPF 75 protection. PureTan products are made exclusively from plant-based materials and are considered very effective.
Currently, PureTan products are sold only in the U.S. Their chief distribution points are Walgreens, Target and CVS. They sell tubes of PureTan as follows:
0.5 oz. for $2.99 (enough for two people for one use each)
3 oz. for $8.99
5 oz. for $13.99
PureTan sales in 2019 were as follows:
0.5 oz. tubes 900,000 units
3 oz. tubes 248,000 units
5 oz. tubes 793,000 units
Based on the companys success, PureTans CEO is interested in expanding his business outside of the U.S. and is considering entering the following markets: UK, Vietnam, Uruguay. Each of these markets has advantages and disadvantages.
The company has done some basic economic and population research and has found the following important data:
|
Population (in millions) |
GDP/capita (in USD) |
Economic growth rate (year over year, in %) |
|
|
UK |
68.3 |
47,200 |
1.3 |
|
Vietnam |
96.1 |
8,100 |
7.3 |
|
Uruguay |
3.5 |
24,700 |
11.1 |
Discuss two possible strategies from the Global Product/Communication Matrix (not including Straight Product Extension). Compare the advantages/disadvantages of each strategy as they apply to PureTan. Which one would you recommend using?
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