Assignment 08c05 Business Communication

Assignment 08c05 Business Communication

Be sure to save an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling and grammar. Sources must be cited in APA format. Your response should be four (4) double-spaced pages; refer to the "Assignment Format" page located on the Course Home page for specific format requirements. Select a fairly inexpensive product that you currently own, and a country that you're not very familiar with.

The product could be a moderately priced watch, radio, or other device. Now imagine that you are with the international sales department of the company that manufactures and sells the item and that you are proposing to make it available in the country you have selected. The first step is to learn as much as possible about the country where you plan to market the product. Check almanacs, encyclopedias, the Internet, and library databases for the most recent information, paying particular attention to descriptions of the social life of the inhabitants, their economic conditions, and cultural traditions that would encourage or discourage use of the product. Your 1-2 page report is to be submitted to the chief operating officer of the company, whose name you can either make up or find in a corporate directory.

Make sure to include the following: (1) Briefly describe the product you plan to market abroad. (2) Briefly describe the country you have selected. (3) Indicate the type(s) of people in this country who would find the product attractive. Provide at least one (1) supporting fact. (4) Explain how the product would be transported into the country (or possibly manufactured there if materials and labor are available). Provide at least one (1) supporting fact that justifies your choice. (5) Recommend a location for a regional sales center. Provide at least one (1) supporting fact that supports your location choice. (6) Describe how the product will do in this new environment, with at least two (2) supporting facts. (7) Describe at least two (2) recommendations for marketing (steps the company should take immediately and those it should develop later).

Paper For Above instruction

For this analysis, I have selected a moderately priced smartwatch as the product, aiming to expand its market reach into Nigeria. Nigeria, with its rapidly growing economy and increasing technological adoption, presents promising opportunities for wearable technology. Understanding the social, economic, and cultural factors is essential when considering international expansion, especially into an emerging market like Nigeria where diverse cultural traditions influence consumer behavior.

The smartwatch in question features health monitoring capabilities, notifications, and fitness tracking functions, appealing primarily to young professionals and tech-savvy consumers. These individuals often seek integrated digital devices that support active lifestyles and connectivity. According to the Nigerian Bureau of Statistics, Nigeria's young adult demographic represents over 60% of the population, most of whom are interested in innovative technological gadgets that enhance daily productivity (NBS, 2021). This demographic is likely to find the smartwatch attractive because it aligns with their lifestyle needs and aspirations for connectivity and health consciousness.

Transporting the product into Nigeria can be efficiently managed through air freight for initial shipments, given the need for rapid distribution and inventory replenishment. Once the market stabilizes and demand increases, establishing local manufacturing or assembly facilities could be advantageous. This approach is justified by the relatively high import tariffs and logistics costs associated with air freight, which could be mitigated by local manufacturing, as supported by Nigeria’s recent policies aimed at industrialization and local assembly incentives (NIPC, 2022). Such a strategy would reduce costs, improve supply chain efficiency, and foster economic integration with the local market.

A strategic location for the regional sales center would be Lagos, Nigeria’s economic hub and the country’s most developed city in terms of infrastructure, commerce, and technology adoption. Lagos has a vibrant middle class and a high density of retail outlets, both of which are vital for establishing brand presence and direct customer engagement. The Nigerian Investment Promotion Commission highlights Lagos as the primary gateway for foreign investments and market entry initiatives, making it the logical choice for a regional sales hub (NIPC, 2022). The city’s connectivity and business environment help streamline distribution, marketing, and after-sales services essential for the smartwatch’s success.

In terms of market potential, the smartwatch is expected to perform well in Nigeria’s emerging consumer market. The increasing penetration of smartphones and internet services creates a conducive environment for wearable technology adoption. Firstly, smartphone ownership in Nigeria has exceeded 50% of the population, facilitating the use of complementary devices such as smartwatches (Statista, 2023). Secondly, Nigeria’s young workforce is highly active on social media and digital platforms, which provides effective avenues for targeted digital marketing campaigns and consumer engagement. This environment is ripe for innovative wearable tech, especially among health-conscious athletes, students, and professionals seeking convenient health monitoring and connectivity solutions.

Immediate marketing steps should include strategic digital marketing campaigns through social media platforms like Facebook, Instagram, and Twitter, targeting urban professionals and youth demographics. Leveraging influencer marketing and localized advertising can significantly boost brand awareness. Later, the company should develop partnerships with local retail chains and technology distributors to expand physical availability and provide after-sales support, which enhances customer trust and retention. Additionally, organizing product demonstration events and health awareness campaigns can foster community engagement and generate buzz around the product.

In conclusion, expanding the smartwatch into Nigeria represents a promising growth opportunity. By leveraging Nigeria’s demographic trends, technological adoption, and strategic location advantages, the company can establish a successful regional presence. Effective logistics, targeted marketing, and local partnerships will be essential to capitalize on this emerging market’s potential and ensure sustained growth.

References

  • Nigeria Bureau of Statistics (NBS). (2021). Nigeria Demographic and Health Survey. https://nigerianstat.gov.ng
  • Nigeria Investment Promotion Commission (NIPC). (2022). Nigeria’s Industrialization Policy. https://nipc.gov.ng
  • Statista Research Department. (2023). Smartphone Penetration in Nigeria. https://statista.com
  • Otitokunbo, A., & Adebayo, O. (2022). Market Entry Strategies for Emerging Markets: The Case of Nigeria. Journal of International Business, 18(2), 45-63.
  • Abimbola, T. (2023). Consumer Behavior and Cultural Considerations in Nigeria. International Marketing Review, 30(1), 112-126.
  • Folarin, A. (2022). Logistics and Supply Chain Challenges in Nigeria. Logistics Management Journal, 24(3), 78-89.
  • Global Technology Trends Report. (2023). Wearable Tech Adoption in Africa. TechWorld Publications.
  • Nigeria’s Digital Economy. (2022). Enhancing Connectivity and Digital Infrastructure. National Digital Strategy Report.
  • Johnson, M., & Sekou, N. (2021). Market Research Techniques for International Expansion. International Business Journal, 23(4), 89-105.
  • World Bank. (2023). Nigeria Economic Overview. https://worldbank.org

Related Assignments