brand management aspects
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Paper: Students will complete a short paper on any aspect of Branding. This would include, but not be limited to, brand management, brand measurement tools, brand equity, brand positioning, and introducing and naming new products.
Students should use the text as well as other sources (books, journal articles, etc.) in order to write the paper. Al least eight sources must be cited in the body of the paper and listed on the reference page. The paper should be ten typed pages (double-spaced), have a cover page, and reference page(s) – although these pages are not counted in the required length. Please use APA formatting. Papers will be graded based on the following general guidelines: proper use of grammar, language, and writing style; originality of ideas; and depth of research/use of available literature.
Tree Nuts
Limestone College
Ishmael Carmichael
Mr. Loflin
MK 329 Branding
January 15, 2020
Executive Summary
India is an Asian country. There are 29 states in India. Bilateral commerce between the US and India has grown during the previous years. India has emerged as one of the United States’ top global commodity suppliers. This is why the tree nut industry in the United States is potentially huge.
A significant increase in the demand for tree nuts has occurred in India. This is due to the rising tendency for daily diets to incorporate it. Socio-culturally approved products are consequently common in India. In addition, its demand has increased during the past few years. Due to the growing Indian population, there is increasing demand for these items. Tree nuts, which are largely grown in tropical regions, have increased in demand because of an expanding middle class, a growing labor force, and rising consumer awareness of product that is considered healthy. Tree nuts, such pistachios, cashews, and almonds, are now commonly consumed in India.There are no significant quantitative limits on tree nut imports into India, but tree nuts from the United States incur tariffs. There are lots of benefits to coming to India, but import taxes and other charges can get in the way. Tariffs vary depending on the type of goods being imported. Commodity tariffs are also high, for example in agriculture. This is done to keep foreign agricultural products out of the country. In order to boost local production of agricultural items, the Indian government wants people to plant and cultivate their own land. Import tariff on tree nuts is anticipated, since it is an agricultural commodity.
It is not very competitive in the tree nut market in India. While a larger quantity of tree nuts is being produced, the market can no longer keep up with the growing supply. No one company has managed to monopolize India’s output of tree nuts. As many producers as customers exist. The market for tree nuts in India is open to all entrants. Many tree nut farmers will continue to produce tree nuts regardless of the firm’s choice to withdraw from the market.
In recent years, the economy and politics in India have both been better. A large portion of this is owed to the current state of the economy, which has been strong for some time. The number of years in which India has seen economic growth increasing is increasing. India is politically stable as well.
Most of the success of selling tree nuts in India would be contingent on how the marketing and distribution strategies are applied. Marketing and distribution tactics that are effective will result in huge sales volume. This will yield large profits finally.
In general, India’s work environment is friendly to both management and labor. There is a sufficient supply of low-cost skilled labor in India. There is always sufficient labor available. A significant number of individuals are out of work, and they have the requisite abilities, therefore nearly all of them will accept any compensation, even if it is lower than the minimum wage.
Due to the increasing market size, it is quite likely that the company will become financially successful in India. To decrease the amount of tax on profits, tax subsidies are used. Because they allow for free repatriation of profits, India permits free repatriation of profits as long as all tax obligations are met.
In order to sell more after tree nuts are exported to India, we must employ more effective marketing and distribution tactics. An additional suggestion is that the firm employ well-trained staff to assist with the day-to-day management of retail outlets and marketing offices. Employees who will be responsible with selling tree nuts may include company representatives.
Introduction
India is an Asian country. Although India has faced obstacles throughout the years, the country has nonetheless seen progress, as there has been a growth in population, environmental damage, a rise in poverty levels, and corruption across the board. Despite these difficulties, India’s rise as a regional and global economic power has been fueled by the significant economic development following the introduction of economic reforms and the significant increase in the youthful population. India’s economy is very diversified, and it affects the global economy significantly. The unique attributes of India make it a viable trading partner for US businesses interested in exporting their products.The US-India trade in products and services was over $115 billion (US Trade Representative, 2018). India is the US’s top trading partner, and this hasn’t changed. The total number of export products from the United States to India has been rising over time. India imported approximately $58.9 billion worth of American items in 2018. Exports and imports to India total an estimated $54.6 billion annually through trade-in services. Indias goods export market was the 13th largest for the US in 2018. Based on all of these figures, it is safe to say that the Indian market is ripe for American products.
There are various prospects for US exporters that want to access India’s market. This is caused by India’s fast rising population. Thus, a rise in demand for agricultural products and foodstuffs is generated. In order to be successful in India, I decided to offer agricultural products. My product that I want to export to India is American tree nuts. Tree nuts include almonds and walnuts, but my focus will be on exporting the two of them to India. To meet the rising demand in India, I chose this agricultural consumer product.
As a result, U.S. agricultural exports to India have increased in volume steadily over the past few years (Perez, Ferreira & Minor, 2017). American agricultural exports to India totaled $1.5 billion in 2018. In choosing tree nuts as a consumer product to be sold to India, this explains the rationale for the decision.
the demographics, socioeconomic situation, and urban/rural setting of the market
Trees in India have seen a huge increase in demand. This is due to the rising tendency for daily diets to incorporate it. In addition, its demand has increased during the past few years. Nutrients such as vitamin B2, vitamin E, vital minerals, and fiber all contribute to the increase in tree nut demand. With a projected increase in the number of health-conscious consumers, the tree nut industry is predicted to dramatically increase. Many customers have begun shifting their intake from unhealthy and unnutritious food to more nutritious and healthful food options.
Another major driver contributing to the positive progress of the industry is the rise in the level of antioxidants in tree nuts. People are increasingly eating a plant-based diet, which is helping to grow the demand for tree nuts in India. The market size for tree nuts is expected to expand in the next years because of an increased boosted consumption of the product as a healthy standalone snack alternative. Increasing the market’s penetration by using tree nuts in personal care products is predicted to help.
According to market analysts, the Indian tree nut market is predicted to grow. India’s economy is expanding rapidly. In recent years, the middle class has grown substantially. With this growth in purchasing power, many Indian citizens can now afford more. Middle-class households are expected to increase from the current 90.8 million to more than 170 million in 2021. A study projects that the number of households earning above $149,000 would climb to almost 2.9 million by the year 2026.
IMF predictions forecast India’s per capita GDP growth will climb by 61% during the next five years. It should be noted that, by and large, the population of India remains at or near the poverty level. Disposable income and total consumer expenditure on food continue to increase, but they aren’t necessarily growing at the same rate. There is a huge gap between the rich and the poor in India.
Migration between rural and urban areas is prevalent in India. The supply of surplus rural labor is on the move to metropolitan regions. The underlying force behind this population increase is the rapid growth of metropolitan regions. Every population is a potential consumer of tree nuts: rural and urban. Compared to rural inhabitants in India, urban populations use more modern retail establishments. As a result, urban customers make up the highest market size for tree nuts, and as a result, they purchase a greater share of imported items. In remote locations, imported items are expected to be purchased by few individuals.
In light of bilateral trade between the United States and India, the United States is likely to be India’s primary supplier of tree nuts. In 2015, the United States is expected to be in a position to command around 20% of the global market. As a result, India would be viable as a market for tree nuts.
Is sociocultural acceptance important for the acceptance of the product?
Tree nuts, which are largely grown in tropical regions, have increased in demand because of an expanding middle class, a growing labor force, and rising consumer awareness of product that is considered healthy. Tree nuts, such pistachios, cashews, and almonds, are now commonly consumed in India. Even if food costs are increasing and the Indian rupee is falling, demand for tree nuts is still predicted to rise.
There is considerable agreement among those who live in India about this product. You don’t have to do anything to the product to make it work. Demand for tree nuts tends to be at its highest around the holidays. Traditionally, the festive season begins in September and ends in January. During the festival season in India, it is tradition to give tree nuts as a seasonal gift. Indian consumers will go beyond the more traditional tree nut types, such as cashews and almonds, to purchase nuts. They are willing to test new varieties from other origins, thereby confirming their willingness to break with the status quo.
This contributes to tree nuts’ socio-cultural acceptance, because traditionally in India, it has been consumed. Also, an increasing number of Indian customers have come to believe that tree nuts include health and nutritional benefits.
Due to their price sensitivity and other preference variables, Indians have always favored American tree nuts above those from other countries. The many people in India who consume tree nuts all live in distinct regions. Buyers in India are generally motivated by habit and loyalty, which encourage them to buy local-produced tree nuts. Though imports are still required to fill the industry’s need, local output is not adequate to satisfy the overall need. Also, cost is another essential consideration because domestically produced goods tend to be more expensive. This increases the likelihood that buyers will search for reduced pricing, which causes them to look for imported tree nut types.
Tree nuts have been consumed rapidly. This is said to be attributable to a number of issues. They cover attitudes that change with consumer buying patterns, demographics, accessibility, the selection of food, and urbanization. People are far more likely to embrace this product because of these favorable influences. Since it will be exported from the US to India, it is very likely that the product will be accepted. In India, no impediments exist that will impede people from consuming tree nuts.
India’s legal/bureaucratic environment (imports, local manufacturing, taxation) does not impose significant quantitative limits on tree nut imports; nonetheless, tree nuts from the United States are subject to tariffs. In order to facilitate the importation of phytosanitary certifications that show phosphine fumigation done in the country of origin, the Directorate of Plant Protection, Quarantine, and Storage in India issued a directive requiring this.
Non-transparent and unpredictable regulatory tariff systems burden exporters. Export controls and a very restricted import system are in place in India. For many agricultural commodities, self-sufficiency is pursued through undertaking this. India has an average tariff on agricultural products of about 35% as per the World Trade Organization. Many U.S. agricultural exports are likely to be significantly harmed by India’s high tariffs on agricultural products. In addition, India has significant government subsidies that lead to market distortion.
India has one of the highest levels of malnutrition according to the World Bank. Domestic self-sufficiency policies restrict the import of agricultural commodities, which leads to an increased level of hunger. India’s population is increasing, which may necessitate the government to make adjustments to import limits in order to ensure that the population has access to affordable food.
In India, several localization standards must be met. These regulations are put in place to boost local industry and boost GDP contributions. Because of these policies, American exports are projected to decrease.
Many of the legal rules in India mandate that importers go through the formal process of applying for a product’s clearance before bringing any food or food product into the nation. Approval is also hard to obtain due of the lengthy bureaucracy involved.
Under the law, states in India are required to develop and implement their own policies on all relevant matters. In the present situation, exporters can expect a wide range of conditions, both business and economic, in the various states and union territories of India. Decision-making and authority are decentralized because of this. elements such as governance, political leadership, labor legislation, legal restrictions, and taxation will differ widely across states
Though the enforcement of intellectual property rights in India is difficult, India is one of the most tough countries when it comes to protection and enforcement of IP rights. Intellectual property rights (IPR) are absent in India because no laws exist to protect and enforce them. Consequently, working in places where copyright and trademark protections are not in place will be problematic.
Despite the barriers indicated above, agricultural exports from the United States to India are anticipated to grow in the future. It is expected that the demand for this product would expand, and if that happens, production may no longer be able to keep up. More and more middle- and upper-class households are on the rise. People who live in these houses have better access to finance. So India’s consumer demand will increase and be supported by this. Consumer purchasing power will improve due to increased appreciation of the Indian rupee.
there is fierce competition in the market
In order to meet rising demand, the market for tree nuts has grown. This increase in population in India is cited as the cause. The tree nut demand exceeds supply. India is lacking in tree nuts. There are several tree nut manufacturers in India, both indigenous and international. Locally produced tree nuts are more expensive as a result of increased demand. Locals are so inclined to purchase imported tree nuts which are more affordable.
It is not particularly competitive in the tree nut market in India. While a larger quantity of tree nuts is being produced, the market can no longer keep up with the growing supply. Although many local tree nut growers are currently struggling, there are no well-established ones who could be competition. In order to meet increasing demand, India will have to import more goods. Tree nuts, including those from Chile, are on the rise in India as a competitor to US tree nuts, having grabbed a substantial portion of the market. It is the only company that has the capability to harm US tree nuts.
In terms of pricing, the Indian tree nut market is rather uncompetitive. Anyone can start their own project. Monopolies do not exist. Oligopolistic competition is found in the market structure. An expanding demand exists for top-quality items, and so, the market is available to any company that is prepared to meet that demand.
marketing and distribution methods
Most of the success of selling tree nuts in India would be contingent on how the marketing and distribution strategies are applied. Marketing and distribution tactics that are effective will result in huge sales volume. In instances where the volume of sales is significant, large profits will be realized once sales are made of tree nuts. Tree nuts can be marketed and distributed in India in a variety of ways. Using online marketing, particularly e-commerce and advertising, are the main ways of promoting tree nuts in India (Chaffey & Ellis-Chadwick, 2019). When developing my new business, I am hoping to use online marketing to grant my company access to the national market, especially outside of India’s major cities. Indian smartphone ownership has drastically expanded.Smaller risks are associated with online marketing and distribution as opposed to putting up a physical presence. The support it offers will help my organization serve the nation of India, and to pinpoint the industry’s specialty clients. With the advent of the internet, marketing research can identify market categories that have the greatest affinity for tree nut goods. At the same time, there are many people on social media in India. We will also advertise tree nuts via social media. to create loyal customers by utilizing social networks like as What’s App and Facebook Search engines, digital assets, and big data analytics are some of the other internet marketing tactics that will be deployed.
Advertising is a popular and effective marketing strategy. This is due to the fact that it reaches a large number of people at the same time. Advertising is a marketing strategy that will be utilized to spread tree nut information. Its goal is to reach a large number of people at the same time by purchasing space or time in numerous media. The most crucial aspect of marketing is advertising. Advertising will be utilized to help consumers make sales by enhancing persuasive communication.
In India, the direct channel is the most common technique of supplying tree nuts. This method entails the producer’s direct distribution of items without the use of intermediaries. This is an efficient way of product distribution.
Several stores will open. India. Several retail stores with a similar appearance will be opened in various sections of the country. Consumers will be able to purchase tree nuts from these retail outlets.
In India, tree nuts will be distributed through the mail-order company. The producer will make extensive use of various media to promote tree nuts. The producer will then send catalogs to potential customers via direct mail. A post office will handle the distribution of tree nuts and payments.
In order to promote and distribute tree nuts in India, sales agents would be hired. Because sales professionals connect directly with potential customers, the volume of sales is expected to increase. They have the ability to persuade potential clients to purchase tree nuts. Another benefit of using sales reps is that it allows for more marketing flexibility at a lower expense. It’s also conceivable that the sales price will be cheaper.
Recommendations
Following an examination of numerous elements in the Indian market, I am able to give advice targeted at ensuring that tree nut producers receive maximum benefits after exporting their products to India. It is necessary to study the recommendations. This is due to the fact that businesses work in a fast-paced atmosphere.
The first suggestion is about marketing and distribution strategies. It is suggested that tree nut growers use caution while selecting marketing and distribution tactics. The volume of sales will be determined by the marketing and distribution methods used. Low sales volume will result from ineffective marketing and distribution tactics. As a result, the company’s profit will be lower. If, on the other hand, the marketing and distribution strategies employed are effective, the company will generate a big volume of sales, resulting in a higher profit margin.
The second suggestion pertains to the type of labor to be employed. The employer of choice for tree nut growers should be qualified personnel. It is critical to employ skilled staff. Individuals hired as sales reps, for example, should have the necessary skills, such as excellent communication and persuasion. Individuals engaged to supervise sales reps and those who will manage numerous marketing offices should have good management skills.
The advice listed above must be taken into consideration by tree nut producers. If the instructions are followed, tree nut growers will have no trouble navigating the Indian market.
References
Chaffey, D., & Ellis-Chadwick, F. (2019). Digital marketing. Pearson UK.
Deininger, K., Jin, S., Liu, Y., & Singh, S. K. (2018). Can Labor-Market Imperfections Explain Changes in the Inverse Farm Size–Productivity Relationship? Longitudinal Evidence from Rural India. Land Economics, 94(2), 239-258.
Klasen, S., & Pieters, J. (2015). What explains the stagnation of female labor force participation in urban India?. The World Bank.
Natarajan, P., & Raza, M. T. (2017). An Analytical Investigation on Ease of Doing Business in India. Journal of Smart Economic Growth, 2(2), 46-69.
Nomura, S., Imaizumi, S., Areias, A. C., & Yamauchi, F. (2017). Toward labor market policy 2.0: the potential for using online job-portal big data to inform labor market policies in India. The World Bank.
Perez, A., Ferreira, G., & Minor, T. (2017). Fruit and tree nuts outlook (No. 1494-2017-5276).
Report from the Office of the US Trade Representative retrieved at https://ustr.gov/countries-regions/south-central-asia/india
Report from Foreign Agricultural Service, United States Department of Agriculture retrieved at https://www.fas.usda.gov/data/growing-opportunities-us-agricultural-exports-india
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