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Nishtha answered on
May 24 2021
A BRIEF TO CEO ON PROPOSED PROJECT
(INDIVIDUAL REPORT)
FRAGRANCE AMBROSIA
Abstract
Fragrance Am
osia is a natural oil and cosmetics firm based in Australia that mostly sells in Australia and New Zealand. Cu
ently, the organisation is looking for a business opportunity a
oad in order to expand its operations. In comparison to European countries such as USA and China. The report is divided into three stages, the first of which is an observation of the US and Chinese markets using the macro and micro situation analysis approach, followed by a SWOT analysis is to identify important constraints, advantages and overall company situation in the USA, allowing Fragrance Am
osia to identify its strong elements and study specific concerns further.
The final stage suggested many marketing techniques for successfully entering the market and advertising the
and. The report contains three primary findings. To begin with, most females in the United States and China believe they must impress others in order to “survive” in society, which produces a significant need for investing in appearances. Second, the men's cosmetics and skin care market in the United States has become one of the most powerful in the world and they are very much focused on being stylish and attractive in order to attract women.
Finally, many Chinese consumers have become aware of the negative consequences of traditional cosmetics ingredients, prompting them to seek out more pure natural beauty products and skin care products. Delightful or fragrant is what the term "am
osia" signifies. In ancient Greek mythology, am
osia was also the divine fruit. The gods of Mount Olympus ate am
osia to stay immortal and they were feeble if they did not eat it. Am
osia was employed as a perfume by the gods in Homer's Iliad.
Table of Contents
Abstract 2
Introduction 4
Legal, Economic, Political & Cultural Environment 4
USA 4
China 5
Home and Host Nation Relations 6
Market Entry, Growth, Ba
iers and Enablers 6
Staffing Considerations in the Foreign Markets 7
Marketing Strategy 7
Sustainability Related Considerations 7
Business Forms 8
Risk Factors 8
Conclusion 8
Recommendations 9
References 11
Introduction
The skin care, beauty products, essential oils, perfumes, cosmetics and infant goods of the company are made with over 95% natural and chemical-free ingredients. As explained by Maqsood and Soomro (2021), customers may be able to find everything they require for their bodies due to the large range of product availability. Fragrance Am
osia obtains raw resources from local farmers all over the world and then started manufacturing its unique organic products at its Queensland plant.
As mentioned by Ivashkova Sidorchuk and Skorobogatykh (2018), refusing to utilise false ads, unethical business secrets, or dangerous substances, the company hopes to promote a strong
and name. All of these factors contribute to a true and trustworthy business culture, as well as enticing customers who seek items from a trustworthy and ordinary organisation. Fragrance Am
osia is a company that sells products in New Zealand and Australia, as well as providing online sales services.
Fragrance Am
osia is now looking for a way to extend their business internationally. The perfume customer experience is surprisingly underwhelming for a product, which has become so full of glamour, intrigue and delight that, rows upon rows of comparable as well as smelling fragrances were only distinguished by name. Traditional obsolete merchandising strategies should be rethought and retailers should be given the freedom to be creative.
Sephora has begun to address this by refocusing attention away from the wall berths of bottles and developing a play area called Insta Scent, while Bloom in Covent Garden has organised merchandise by fragrance kind (Wijanarko & Fachrodji, 2020). Bloom focuses on the consumer experience, which includes sampling, investing time and discovering their perfect fragrance match. Floral Street, a niche yet well-advanced shop, is another prime illustration. Aesthetics and formats used in advertising are no longer important.
Legal, Economic, Political & Cultural Environment
USA
While the volume of commerce develops in one competitive country, political pressures in other countries will rise as an outcome of their market losses. Due to the recession in the United States in 2008 and increased global competition, USA has liberalised its international commerce and lowered import cosmetics rules in order to attract foreign capital. According to AusTrade, the USA government has deregulated cosmetics policies, removing the procedures and expenses associated with obtaining prior permission and licences for products.
As a result, entering the Australian cosmetics sector has become less expensive and the government has enacted favourable tariff regulations to encourage international investment. Furthermore, as suggested by Chuyuan (2019), the United States is placed pretty decent in the world in terms of country safety in the Global Peace Index Rankings 2008. This ranking is based on the amount of crimes committed, the potential for te
orist attacks and the political stability of the country, among other factors. “Infrastructure quality has a direct impact on a country's economic potential,”
Kholi
ina and Aswandi (2020) have described that In terms of social environment, Individual grooming habits have improved as an outcome of fragrance and fragrances, which have become key products in everyday life. Perfume and scent products are used to mask the unpleasant odours that sweating causes. The worldwide Perfume & Fragrance Market has been impacted by rapid u
anisation. Changes in lifestyle, as well as improving living levels, have all played a role in USA.
As explained by Mahdavi et al. (2019), the legal system and institutions in a range of international are insufficient to secure an organisation's intellectual property rights. Before entering such markets, a company should carefully consider its options because it could result in the theft of the company's secret sauce, reducing its overall competitive advantage.
China
In 1978, the Chinese government began an economic reform programme. This initiative was designed to relieve the state's long-term control of significant productive assets. The...