MRKT20057: Global Marketing Report - Byron Bay Cookies Singapore

This report evaluates the potential for Byron Bay Cookie Company to expand its business into the Singapore market. It begins with an executive summary outlining the company's background, product, and the report's objectives. The introduction provides context, highlighting Singapore's appeal as a developing nation with opportunities for marketing activities. The report then delves into a detailed analysis of the economic and financial environment, including economic variables like unemployment and inflation rates, and financial variables such as GDP and banking system access. It examines the political and legal environment, assessing political stability, corruption control, and the legal framework, including trade barriers and customer service. The social and cultural environment is explored, considering social values, literacy rates, health spending, and cultural integration. The technological environment, focusing on electronic government and internet infrastructure, is also analyzed. The conclusion summarizes the key findings, and the recommendations suggest product standardization and online marketing strategies. References and appendices are included to support the analysis.

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GLOBAL MARKETING
[Type the document subtitle]
9/7/2019
student name

GLOBAL MARKETING 1
Executive summary
Byron Bay Cookie is Australian café cookie that is serving for 25 years; the company was
initiated in 1990 with a recipe of an old family who started experimenting ingredients to cook
cookies. The report will consider external business environmental factors to be discussed and
relevant aspect to assess the key opportunities and threats for a company before entering into a
nation. Byron Bay Cookie is a company that is offering various types of cookies, for which the
company is willing to expand the business in Singapore that will be considered for this report
analysis.
As per 2019 index, one of the economic variables that are unemployment rate is found to be
20%, the inflation rate is found to be 0.6% and the foreign direct investment inflow is identified
to be $62 billion. The purchasing power of the customers are reflected through the GDP per
capita of the country which found to be increasing since years, with the maximum was in 2017 at
85535 US$. Banking system access is strong in Singapore which reflects the opportunity for
Byron Bay Cookie Company to market the goods internationally that is in Singapore.
Considering the export opportunity after analyzing the external business environment in
Singapore it can be said that the product standardization strategy will be recommended. The
standardization of the product can be an effective strategy which could gain economies of scale
and enhance the global recognition of the brand and product-based. Another recommendation for
the company is marketing using Internet infrastructure which is one of the opportunity after
analyzing technological business environment of Singapore. Other than the trade of goods, the
company can promote their cookies in the nation using social media marketing, email marketing
and another mode of online marketing in order to reach out maximum population within short
span of time.

GLOBAL MARKETING 2
Contents
Executive summary.........................................................................................................................1
1. Introduction..................................................................................................................................3
2. Economic and financial environment analysis............................................................................3
2.1 Economic Variables...............................................................................................................3
2.2 Financial Variable..................................................................................................................4
3. Political and legal environment analysis.....................................................................................5
3.1 Political Variable...................................................................................................................5
3.2 Legal Variable.......................................................................................................................5
4. Social and cultural environment analysis....................................................................................6
4.1 Social variable.......................................................................................................................6
4.2 Cultural variable....................................................................................................................6
5. Technological environment analysis...........................................................................................7
6. Conclusion...................................................................................................................................8
7. Recommendations........................................................................................................................8
References......................................................................................................................................10
Appendix........................................................................................................................................12
Appendix A................................................................................................................................12
Appendix B................................................................................................................................12
Appendix C................................................................................................................................13
Appendix D................................................................................................................................13

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1. Introduction
The report will consider external business environmental factors to be discussed and relevant
aspect to assess the key opportunities and threats for a company before entering into a nation.
The report will include economic, financial, legal, apolitical, social, cultural and technological
environment analysis.
Byron Bay Cookie is a company that is offering various types of cookies, for which the company
is willing to expand the business in Singapore that will be considered for this report analysis.
Therefore, the selected product for business expansion in the Singapore market will be cookies,
which would more specifically focus over gluten free cookie. The key reason for selecting
Singapore for the discussion is that it is a developing nation, and various opportunities can be
analyzed to conduct marketing activities in this nation like free trade with various nations, and
one of the busiest port that provides advantage to new age business. Byron Bay Cookie is
Australian café cookie that is serving for 25 years; the company was initiated in 1990 with a
recipe of an old family who started experimenting ingredients to cook cookies. The company has
been able to reach out to various nations while offering cookies through online mode, and with
help of other retail platforms like amazon. The company is being served to nations, like Japan,
Singapore, China, Europe, among which the Singaporean market for new marketing activities
will be analyzed. Considering the porters' value chain, the company look out for the local
Australian farmers for the raw material and the products are exported to international market
after production (Ahlin, 2014).
The target customer for the company includes various age group people like kids by offering
chocolate and similar flavors. Moreover, by offering products like gluten free cookies, the
company is also targeting health conscious customer segment. The company has been serving a
good quality product (Goffin, 2017).

GLOBAL MARKETING 4
2. Economic and financial environment analysis
2.1 Economic Variables
Considering the economic environment of Singapore, it can be said that it is one of the most
prosperous nations across the globe. As per 2019 index, one of the economic variables that are
unemployment rate is found to be 20%, the inflation rate is found to be 0.6% and the foreign
direct investment inflow is identified to be $62 billion. Among 43 nations in Asia Pacific region
Singapore is ranked second. Moreover it can be said that the economic freedom score is 89.4%,
which is indicating that Singapore‘s economy is at second phrased as per the economic freedom
index of 2019.It has been identified that the service sector of Singapore economy is being
dominated considering the GDP (heritage, 2019). Some of the constraints that affect the
company in Singapore include labor shortages, and labor cost increase. One of the major threats
for any organization and are needed for marketing activities as the shortage of labor, which may
decrease the productivity for company. However, Singapore’s economy is the free market
economy and it is developing very fast. Moreover, it has been identified that the government has
invested large amount to grow the economy due to which the pharmaceutical, tourism and
various other industries like food and beverage industry have flourished in this nation, which can
be an opportunity for Byron Bay cookie companies to market their products in this nation. The
purchasing power of the customers are reflected through the GDP per capita of the country
which found to be increasing since years, with the maximum was in 2017 at 85535 US$ (as
presented in appendix A.) This also reflects as an opportunity for the company to market its
goods in this nation (Ho, 2014).
2.2 Financial Variable
Evidence suggests that the financial variable that is in favor of conduct of international
marketing in Singapore are the GDP of the company, which are increasing with years which will
provide opportunity for the company to earn better profit and increase of sale. Another variable
includes economic growth, for which the statistics are presented below. The graphs depict that
the economic growth in the nation is not a major threat for the company to conduct marketing
activities in the nation, the reason being the there are not recent outcomes presented in the graph
below. However, the economic growth does not seem to be a major opportunity too (Jing, 2016).

GLOBAL MARKETING 5
From appendix B, it has been identified that the banking system access is strong in Singapore
with the lending interest found to be constant since 2002, which reflect the opportunity for Byron
Bay Cookie Company to market the goods internationally that is in Singapore (Alves & Sousa,
2018).
3. Political and legal environment analysis
3.1 Political Variable
As per the rule of law index (preseneted in appendix C), it can be said that the index depicts
strong rule of law which could be opportunities for the company to market their products in this
nation, the reason being the likelihood of violence and crime will be lower. Considering the
corruption in the nation the control of corruption index of Singapore depicts at 2.13 value in
2017 which is an average value which reflects that the corruption control is exercised is good in
favor of public power which could be opportunity for the company (Alvai & Wahab, 2013).
Considering political stability index (presented in appendix D), it can be said that the country is
politically Stable with a maximum value of 1.59 in 2017 this reflects that there is less likelihood
of government to be overthrown or destabilize which act as an opportunity for the company all
lower the risk for the company to market their goods in this nation (Craig & Douglas, 2015).
3.2 Legal Variable
The legal system of Singapore is largely based on the common law of English. The commerce in
the nation includes censorship law this may not have major impact on conduct of business but
PAP employ’s censorship law. One of the opportunities considering the legal system of
Singapore includes low level of intervention by government within the business and also the
nation offers a lower tax rate she free business environment availability. Considering the
subsidies, Singapore protects healthcare, domestic airlines and university industries through
subsidizing them. However there are some trade barriers as the company encourages
international business and investment because the nation is highly dependent on export and
import. The nation employees efficient customer services, Low tariff, efficient export and import
procedures, top quality transport infrastructure, transparent border administration and efficient

GLOBAL MARKETING 6
regulatory environment that reflect that the legal system of Singapore is quite strong and is in
favor of company to market their goods in this nation (export.gov, 2019).
4. Social and cultural environment analysis
4.1 Social variable
The social environment of Singapore is similar to and eastern nation witches following
traditional family values. Considering the value there is a tendency for the younger generation to
follow based on values and culture. The business sector is grooming than any other sectorial
which reflect higher expectancy in purchasing power from consumers (Du & Bstieler, 2016).
The literacy rate in the nation is very high and parents also our concern and make sure that the
children are attending school regularly as primary school is found to be compulsory in the nation.
This reflects affective educational level in the nation and also improves the command on Chinese
and English languages in the nation which acts as an opportunity for the company while
marketing the products as this may help to attract foreign investment and international trade
(Ghaderi, 2016). Other than this the health spending by the government per capita is quite high
with maximum in 2016 that is US$2462.39, The evidence suggests that people are quite health-
conscious however the obesity rates still found to be increasing in the nation which can be
affected for gluten-free cookies marketing in the nation. Buddhist is found in large percentage
after analyzing the total population of Singapore. Other than Buddhist Christian, Hindu and
Muslims are also found as a composition of the population of Singapore. Therefore it can be said
that social can act as an opportunity for the company to market their goods in Singapore
(Kaynak, 2018).
4.2 Cultural variable
The culture of Singapore considered an integration of Middle Eastern culture, European and
Asian culture which is influenced by Malay. The nation has found to be maintaining tight
restrictions on cultural and art performances. Considering the ethnic areas kampong glam and
Geylang serai are found to be the focal points in Singapore. Moreover a neighborhood said to be
Singapore’s Chinatown asked specifically feature with Chinese culture that is concentrated
towards ethnic Chinese population (Kolk, 2016). Considering the belief of Singaporean cultural
this system is meritocracy that has still insured regardless of race, social economic background,

GLOBAL MARKETING 7
and religion and helps make sure to develop population to the fullest potential. Primary
education is found to be compulsory and every individual has access to education. Moreover, the
culture also considers progress, peace, democracy, equality and justice which are enshrined in
the national flag of Singapore. Considering the political freedom Singapore was ranked at 4 out
of 7 with overall ranking as partially free (Koryak, 2015).
5. Technological environment analysis
Considering technological factors it has been identified that the government is moving towards
the electronic government criteria. Moreover, it has been found that technological advancement
in Singapore is the major reason for changing lifestyle and improves quality of life which could
be an opportunity for the company to market products in this nation (Mohd & Sasmita, 2015).
Internet of things is one of the most important elements which is playing major role in
technological advancement in Singapore. The Internet infrastructure has increased since years
which have increase the connectivity and communication among the people and with the other
parts of the world. This has also found to be favorable as it reduce time and cost for conducting
business in this nation. The evidence suggests that the penetration rate for broadband Internet for
households are above 70%. Moreover, e-commerce and business to customer models have
groomed due to Internet infrastructure and flexibility of broadband Internet services available to
the household and population of Singapore (Petersen & Kumar, 2015). This has also encouraged
the multinational companies for setting up their operations in this nation along with boosted
social networking for marketing and promotion using Internet infrastructure (Norman &
Verganti, 2014).
The Internet use can be reflected through the index of the percentage of population who are
Internet users, which is 84.45% in 2016 and 2017. The statistics reflect that the Internet users
have been increasing since 2000 and have reached up to a large percentage of the population,
which reflect an opportunity for the company to reach out maximum population through Internet
and expanding business using online mode (Okpara, 2017). Another variable of technological
factors includes the air transport infrastructure which could be one of the threats for the company
as the quality of this infrastructure valued at 6.7 in 2018, which is quite low then the value that is
6.9 and 2017. However the statistics don’t lie in negative outcome which makes this factor is

GLOBAL MARKETING 8
neither a major opportunity, not a major threat for the company to export more products in
Singapore (Rialp & Rialp, 2007). Quality of roads is found to be average which was valued
maximum in 2006 and was valued minimum in 2014. However, these statistics improved since
2014 by valuing at 6.4 points in 2018. Therefore the road infrastructure could be an opportunity
for the company to market goods (Robson & Zeriti, 2014).
6. Conclusion
Byron Bay Cookie is a company that is offering various types of cookies, for which the company
is willing to expand the business in Singapore. Byron Bay Cookie is Australian café cookie that
is serving for 25 years; the company was initiated in 1990 with a recipe of an old family who
started experimenting ingredients to cook cookies. Considering the economic environment of
Singapore, it can be said that it is one of the most prosperous nations across the globe. the
economic freedom score is 89.4%, which is indicating that Singapore‘s economy is at second
phrased as per the economic freedom index of 2019. This also reflects as an opportunity for the
company to market its goods in this nation.
It has been identified that the banking system access is strong in Singapore with the lending
interest fount to be constant since 2002. Considering political stability index, it can be said that
the country is politically stable with a maximum value of 1.59 in 2017. One of the opportunities
considering the legal system of Singapore includes low level of intervention by government
within the business and also the nation offers a lower tax rate she free business environment
availability.
The Internet use can be reflected through the index of the percentage of population who are
Internet users, which is 84.45% in 2016 and 2017. The road infrastructure could be an
opportunity for the company to market goods.
7. Recommendations
7.1 Product standardization strategy
Considering the export opportunity after analyzing the external business environment in
Singapore it can be said that the product standardization strategy will be recommended to the

GLOBAL MARKETING 9
Byron Bay Cookie, the reason being social environment reflects that the people are becoming
health concious and the culture adopted is generally similar to that of the best and nation.
Therefore it can be said that the standardization of the product can be an effective strategy which
could gain economies of scale and enhance the global recognition of the brand and product-
based. Moreover the company can also consider Franchise as one of the export modes to market
their cookies in Singapore market (Tidd & Bessant, 2013).
7.2 Online marketing
Another recommendation for the company is marketing using Internet infrastructure which is one
of the opportunity after analyzing technological business environment of Singapore. This may
decrease the time of distribution and cost of distribution in the nation as standard products can be
trade through online mode to a large number of populations without maintaining stores and
increased operating cost oh stores in Singapore. Other than the trade of goods, the company can
promote their cookies in the nation using social media marketing, email marketing and another
mode of online marketing in order to reach out maximum population within short span of time
(Stahl & Tung, 2015).

GLOBAL MARKETING 10
References
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