INTERNATIONAL MARKETING1 Social Factors According to the social perspective, Singapore is like other Eastern region nations. The residents of the country comply with the traditional values of their family. However, it is a fact that the younger generation is being inclined towards following the western culture. Mr. Bean is involved in selling a variety of soybean-based food and drink products. In the Singapore market, the company is offering a combination of traditional and western food options that attracts many customers. The employees hired by the company in the Singapore market are very hard working, which motivates them to give higher productivity. The higher productivity reflects higher buying power of the consumer to the company (Apsalone & Sumilo, 2015). According to the reports, many of the residents of Singapore do not like to get involved in blue-collar jobs such as construction. The rate of literacy in the nation is very high. The people of Singapore are fluent in Chinese and English Languages, which offers an advantage to Mr. Bean to make good contacts with the overseas government as well as market for the future growth and expansion plans. According to the analysis, is has been found that the social background of Singapore and Thailand is bit similar, which offers a chance to the company to smoothly expand its operations in the market with similar type of offerings. ThepeopleofThailand,Bangkokgiverespecttohierarchicalrelationships.Social relationships and traditional family values are given major priority. Parents, teachers, and bosses are highly respected within the region. Status of the people could be defined by their general appearance, age, family name, clothing, social connection, and job. Family life is frequently more closely interwove in comparison to western cultures (Mcgregor & Camfield, 2008). The children in the Thai family are taught to give respect to their parents.
INTERNATIONAL MARKETING2 Mr. Bean is offering soya products as per the taste and preferences of the Singaporean (Mr. Bean, 2018). In Thailand, Bangkok Market Company have to give major priority to the traditional food and drink items in order to survive in the market. The customers of Thai culture like to have traditional food. Some people are getting inclined towards western culture, for them company can offer similar western dishes that it is offering in Singapore. It can be an opportunity for Mr. Bean to enter in the Thailand market as it will get a chance to add more products to its menu. However, for this, it is very important for the company to prepare soya products as per the preference and taste of consumers along with the practices of business in the Thailand market. Environmental Factors The Environment and Anti-Pollution Ministry operate obstinately to uphold the quality of the air. Pollution due to transportation activities is a major issue in the urban region of Singapore (Bryson, 2019). The act of Water Pollution Control and Drainage supports in managing the quality of the water in the nation. The company’s owners have faith in the art of sharing and giving. It is involved in the resources, efforts, and precisely in offering happiness and pleasures to the person who needs help. From many years, Mr. Bean has implemented numerous advanced and innovative efforts in terms of the environment in the Singapore market. The key concern for the people and the company is that the nation does not have sufficient water that could meet their individual as well as business needs (Xin, 2016). Pollution due to industrial by-products such as oil raises the difficulty. To solve this issue, the government encourages recycling of the water after desalination. Mr. Bean Company is inspired to support the government in this initiative to reduce the exploitation of the natural resources and reducing pollution by framing different rules and policies related to waste management, recycling, developing environmentally sound facilities and stores, saving water and energy in order to safeguard the environment and make justifiable use of resources
INTERNATIONAL MARKETING3 (Gervais,2013).Intheglobalmarket,thecompanyneedstofollowsamesortof environmental strategies to meet the worldwide environmental protection and safeguard standards. Thus, if Mr. Bean expands its operations in the overseas market, they will be able to link these strategies. Thailand, Bangkok is experiencing issues related to air and water pollution, decreasing wildlife populations, water scarcity, deforestation, and other water issues. All these issues are majorly due to the dramatic economic growth of the country. In order to solve these issues, the government of the country is majorly involved in different initiatives to save the wildlife and natural resources (Ping, 2011). The twelfth social and economic national development act of Thailand has highlighted that the environmental quality and natural resources of the country are deteriorating, and now have been convertedinto weakness in upholding the base of services, production, and sustainable living (Green Growth, 2017). Considering these environmental issues in the Thailand, Bangkok market, the company will follow similar procedures and policies related to environment that is has adopted in the Singapore market. Besidesthis,itwilluseandbuyrenewableenergycreditsinordertoreducethe environmental footprints of its activities.
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INTERNATIONAL MARKETING4 References Apsalone,M.,&Sumilo,E.(2015).Socio-CulturalFactorsandInternational Competitiveness.Business, management, and education journal, 13(2), 276-281. Bryson, J. (2019).Singapore is trying to tackle its pollution problem with a ‘smoking ban’ – but it won’t work. Retrieved fromhttps://www.independent.co.uk/voices/singapore- pollution-smoking-ban-air-quality-fossil-fuels-a8706571.html Gervais,G.(2013).Mr.Bean–TheStoryofASingaporeBrand.Retrievedfrom https://www.ifama.org/resources/files/2013-Symposium/785R_Mr_Bean_Singapore_ Brand_Gervais_Chia.pdf Green Growth. (2017).Share: Thailand Twelfth National Economic and Social Development Plan (2017-2021). Retrieved fromhttp://www.greengrowthknowledge.org/national- documents/thailand-twelfth-national-economic-and-social-development-plan-2017- 2021 Mcgregor, A.J., & Camfield, L. (2008). Wellbeing, Development and Social Change in Thailand.Thammasat Economic Journal, 26(2), 1-13. Mr. Bean. (2018).Featured Products. Retrieved fromhttp://www.mrbean.com.sg/ Ping, X. (2011).Environmental Problems and Green Lifestyles in Thailand. Retrieved from https://www.nanzan-u.ac.jp/English/aseaccu/venue/pdf/2011_05.pdf Xin, T.Z. (2016).Singapore’s biggest threat? The water crisis at its door. Retrieved from https://www.aseantoday.com/2016/09/singapores-fight-for-survival-prime-minister- lee-warns-of/