EXECUTIVE SUMMARY
Introduction
The purpose of the research is to determine if it is profitable to set up a frozen food products branch in Shanghai, China. The company used as a basis for the findings, conclusions and the recommendations. The background of the company and the product is that the company is an Australian importing company. It will set up a frozen seafood outlet in Shanghai, China. In terms of marketing issues, the company will advertise it products in the newspapers, radio and television and newspapers. The positioning map shows that the company will be between the restaurants and the noodle houses in the location. The company will target all market segments of the Shanghai market.
Findings
Economically, the laissez faire economy of Shanghai, China gives the people the freedom to buy imported goods like the Australia frozen products of Ocean March. Financially, the company can invest $100,000 Australian dollar in Shanghai, to set up a profitable business. The Shanghai market economy is stable. The Market Analysis shows that there is a strong demand for the Ocean March products. Strategically, the company will target the residents of Shanghai in its market segment.
There are many advantages of buying an Ocean March frozen food products. Some of the many reasons are: The frozen food products that are imported from Australia will be a model for other companies to set up a branch in Shanghai, China, The company will be the pioneer in the imported frozen seafood market segment in Shanghai,
There are advantages of marketing the Ocean March products to Shanghai, China. They include: it would take a long time to persuade the many of the average earning Chinese residents of Shanghai to change their eating preferences to the Australian Ocean March product.
Conclusions
The Australian company, Ocean March, is engaged in the business of selling frozen products. The company It is very profitable to set up a seafood branch in Shanghai, China
The market analysis above shows that the frozen food products are very salable because the demand based on the population is more than the supply of seafood that Ocean March initial will be able to prepare on its freshman year in Shanghai. For, this is the best entry method. into Shanghai. .
Recommendations and rational of chosen entry mode
It is highly recommended that the Australian company, Ocean March, will set up a branch in Shanghai, China using the relationship entry mode. One of the rationales of the chosen entry mode is that the company will hire the local Chinese residents save on labor cost.
1.0 Introduction
The purpose of the research is to determine if it is profitable to set up a frozen food products branch in Shanghai,China. Data has been gathered using secondary sources. These data will be used as a basis for the findings, conclusions and the recommendations. The background of the company and the product is that the company is an Australian importing company. It will set up a frozen seafood outlet in Shanghai, China. The trend analysis shows that it will be a very profitable business to pursue this goal. In terms of marketing issues, the company will advertise it products in the newspapers, radio and television and newspapers. The positioning map shows that the company will be between the restaurants and the noodle houses in the location. The company will target all market segments of the Shanghai market.
2.0 The company and the product
The company is a frozen food company. It will export its frozen food products to Shanghai, China. Trend analysis shows that the Australian company can profitably market its frozen food products because the people have the money capacity to buy them. The improved economy and standard of living in Shanghai China, makes it very profitable to set up an Ocean March branch there. Thus, the Australian frozen products will cater to the discriminating palates of the different market segments in Shanghai.
2.1 The company (Ocean March)
The company that has been chosen is the company identified as Ocean Monarch. It is frozen food product company based in Australia.
Projection –wise, it is very highly probable that this Australian frozen food product company will do well in Shanghai, China. This projection is based on the company’s financial success in Australia. Also, the market forces in Shanghai, China will catapult the company’s sales to unprecedented heights. These Chinese forces include the population, the attitude and the financial capacity of the Chinese people to patronize with enthusiasm the Australian company’s seafood products. The Australian company believes in setting up shop in Shanghai because it is now the right time to do business. One convincing factor to sell the Ocean March products in Shanghai, China is that it is the most densely populated city in China.
It is economically viable today to put a store in China. China opened its doors back in 1995 to multinational companies to sell their products or produce their products in China (Jeffries 2001). This is the main reason why many companies have opened a branch or a subsidiary in China (Marin Product Marketing (n.d.)).
2.2 The frozen product
The Frozen products are prepared in many ways to pamper the Chinese customers with mouth watering lobsters, clams and other seafood delicacies. These products are specially prepared by high quality chefs in Australia. The Australian company’s products have been frozen to ensure that the flavour of the cooked products smell and taste at the same standard as five star hotels in Australia do (Marin Product Marketing (n.d.)).
3.0 The country and the city (background)
The country will be in China. Specifically, the store will open in the Shanghai, China. In retrospect, the market economy of China blends well and even complements the Chinese Communism philosophy. The following quote states
“…The 60 percent of sales not controlled by the two Chinese leaders is currently held by various quasi-governmental entities, including local and provincial authorities and state-owned enterprises.” (Woetzel 2002, 1)
The above quote states that the two Chinese leaders were instrumental in starting the market economy of China that culminated with the opening of its high walls to importation of foreign goods and services.
The Shanghai Flash issue issued by the issue by the Consulate General of Switserland in Shanghai (Song, 2003) states that Shanghai is one of the most populous and busy community in China in 2003. The population increase hit an average of 3.07 million since the year 1990 to 2003 (Song, 1). Also, the population increase in Shanghai of twenty three percent was higher than the average population increase in the entire Chinese peninsula of only twelve percent. It plays a very delicate part by being the busiest economic and financial capital of China. The other city that is eagerly on rode to mimic Shanghai’s business and economic success is Beijing. Beijing, China has won its rare opportunity to bid to be the next site of the next Olympic games. In tandem with the population increase, the Chinese government under the current administration of Chairman Deng Xiaoping made several policy decisions to boost the economy and social life of Shanghai even faster and higher. The government policies focused on family planning, employment, social security and population management and control.
Reference: Song, 2003; p.1
The above table shows the population increase of Shanghai, China. In addition, the 2001 per capita Gross Domestic Production of Shanghai was pegged at RMB 37205 or US $ 4,500. This is definitely higher than Beijing, China’s per capita Gross Domestic Production of only 25300 or US $ 3,060.Shanghai has a higher Gross Domestic Production at RMB 495.01 billion than Beijing, China with the lower Gross Domestic Production of only RMB 281.76.
In terms of education, the Shanghai Flash issue no 2 (Song, 2003) states that the following table shows that Shanghai’s middle school population has the highest increase of the three sections below from the lower 31,596 in 1990 to the higher 36,806 after a decade. Also, the table below shows that the senior middle school population had increased from 19,539 in 1990 to the higher 23,018 in 2000. The increase in the data below shows that the college and above levels was a step behind the middle school increase with the population of 1990 of only 6,537 to another high statistics of 10,940.(Song, 2003, 1)
EDUCATION DEMOGRAPHY OF SHANGHAI, CHINA
Reference: Song, 2003 p1
In terms of Density, Shanghai is one of the most crowded cities in the world. The density data of the Shanghai community reached a very high figure of 2,588 persons per km2 in the year 2000 alone. A sad side effect of this density figure shows that there is a lack in the transportation system to ferry its residents from one part of the city to another. Likewise, pollution is another side effect that is prevalent in Shanghai and other crowded cities in the world (Song 1).
4.0 Business environment
4.1 Economic
Shanghai has one of the biggest cities of China. As such it is one of the two biggest economies in mainland The laissez faire economy of China shows that the people there are now given the freedom to buy anything they want as long as they can pay for them (Waller, 1). This new economy is known as OPEN DOOR POLICY. This policy started in 1978. It was the end product of China’s evaluation of the policy’s advantages in terms of trade liberalization, utilization of foreign loans, exports of labor for construction outside the Chinese mainland, development of special economic zones, and the development of its tourism industry. One of the many reasons behind the new policy is that it was believed to be beneficial to China’s economy(Chai 1998, 139). This is one of the major reasons why putting up an Ocean March frozen product chain would be very profitable in Shanghai. Now, the foreign companies like Ocean March are free to invest in a frozen food outlet. In turn, the people living in Shanghai, China can have higher chances of getting a job that will earn generate for them lots of money. In the same manner, the local government of Shanghai, China will benefit from the establishment of a shop there because Ocean March will pay taxes to the government. The government will earn taxes from the Chinese workers employed by Ocean March. The business establishments around the Ocean March shop will also benefit from the setting up of the Ocean March opening for the people working in Ocean March will have enough purchasing power (money) to buy the goods being sold in Shanghai. In turn, these stores will hire additional employees to supply the needs of the Ocean March employees.
4.2 Financial
In terms of finance, one hundred thousand dollars will be used to set up the Ocean March branch in Shanghai, China. For the building could just be rented for the meantime. Also, other requirements like chairs and tables and the kitchen equipment will be bought through an installment payment basis. Thus, the cash is only used for emergency out of pocket expenses. Finance theory shows that there are two major sources of cash inflows. They are investments from the owners (stockholders) and loans from banks and other financial intermediaries (Mueller 2003, 80). The investors are owners of the company whereas the banks as the creditors of the company (Mueller 2003, 23).
4.3 Social, cultural issues
The entire China market segment is socially stable. And this is evident in Shanghai, China with its booming laissez faire economy that had enticed the Australian company, Ocean March to open a business in Shanghai, China. China has already awakened as a tiger economy. The economy of China is now classified as market type. Meaning, the people follow the economic of supply and demand. This economic theory states that as there are two sub economic theories. The demand economic theory states that as the prices of goods and commodities increase, there is a corresponding decrease in the demand of such price –increasing products. This is the theory that applies to the buyers or customers. On the other hand, the sub economic theory of supply states itself in the reverse of the demand theory. The supply theory states that as the prices of goods and commodities increase, the supply of such price increasing goods will increase. This theory points to the direction of the supplier. For, the supplier will be happy to produce more goods. For, he or she could sell the products and get higher and higher profits (Wasson 1998).
However, the mixture of the supply economic theory and the demand economic theory states will bring out the equilibrium theory of economics (Addleson 1995, 18) This means that the customer’s demand price and the suppliers’ supply price will have to meet halfway in order for a sale and the corresponding purchase to consummate. The agreed price between the supplier and the customer is sometimes called the fair market value (Van Daal, and Jolink 1993, 10). Another term for this in economics is the equilibrium price (Van Daal, and Jolink 1993, 10). The economic theories have been discussed here because this is the economy coupled with the social and cultural values of communism that pervades the Chinese population.
Culturally, the China is now a waking tiger. For the people there are now patronizing the importation of goods and services from all parts of the world. In the same light, China also produces many products and sells them at extremely very low selling prices to the United States, the European Union countries, many Asian countries and other major cities of the world (Sanghvi 2001, 7). These Exported Chinese products are easily in demand in the highly developed nations and other countries because they are low priced. The reason for the cheapness of the Chinese products is that the labor component of the total cost to produce the exported products are very low as compared to producing the same products and commodities in the United States, the European Union and other countries. Thus, the culture of has been literally impregnated with the laissez faire economic theory. This theory was a total forbidden under the former leadership of the Staunch communist Chairman Mao (Kaufman 2001).
4.4 Political
4.4.1 The role of the government
The government will be very cooperative. The company has already accepted other companies to set up shop in China. In fact, the current Chinese leadership has even invited many multinational corporations to set up shop in the Export Processing Zones in some parts of China. Also, China has already approved the importation of many goods and services like cars (Park 1997). Mao Zedong stated when he took power “Poor people want change, want to do things, want revolution, A clean sheet of paper has no blotches, and so the newest and most beautiful words can be written on it, the newest and most beautiful pictures can be painted on it” (Hu 2000, 97). Mao Zedong’s policy of curtailing democracy had brought economic disaster to China. The current Chinese political system Under Deng Xiaoping embraces many characteristics of a democratic state like allowing the entry of foreign investments to China. He spearheaded a vigorous open door trade policy to bring much needed foreign investments into China. The new government policy is to free export and import restrictions encourage companies to set up its branches in China (Cass, Williams, and Barker 2003, 2).
4.4.2 Government regulations and trade restrictions
The government regulation is to pay taxes on time. The Shanghai Aquatic tax rate of eight percent(www.shanghai.gov.cn) ess than ten percent is far lower than the thirty percent tax rate of private Australian companies(www.ato.gov.au). Also, the communist government would be happy if its local environmental, local and national laws would be followed. The employees will be paid the minimum salary as required by the Shanghai, China law. Deng Xiaoping’s policy of removing export and import restrictions had opened the floodgates of investments into China. This has resulted to the influx of companies setting up shop in China resulting to China’s getting a big chunk of the international trade pie (Cass, Williams, and Barker 2003, 2) .
4.4.3 Political stability and risk
The China politics is very stable. For the communist government has finally opened its doors to welcome a vibrant and business type of economy. The days of Chairman Mao where the foreign companies had to pass through the eye of a needle in order to set up a business in China has been changed. Now, China has been opened export processing zones to entice multinational corporations to set up a factory here. The government offers the foreign companies to produce their goods in China and to avail of low tax rates. This offer of lower tax rates than the normal stipulated by law will benefit both the Chinese government, specifically in Shanghai, and the Company, specifically Ocean March. For Ocean March will save on labor costs because the Chinese employees will be the local Shanghai residents. Hiring the Chinese residents would cost lesser to hire than to import an Australian citizen to work in Shanghai. Here will be only minimal risk in setting up the company in China. For the stable Chinese political system, communism is very stable. And businesses will prosper well in the political system that is very stable. An unstable government is characterized by the constant change of the government leaders (Solinger 2000).
4.5 Legal
The company will strictly implement all the laws of Shanghai, China. This includes implementing the local laws on protecting the environment. The company will not throw its waste products into the rivers in Shanghai. The company will not burn the garbage or throw its waste products into the crystal clear rivers of Shanghai. Likewise, it will not pollute the air with china because all its products are produced in Australia and shipped to Shanghai China to be sold in grocery and other merchandising outlets there. (Zhang 2002).
4.6 Technological issues
The company will implement the technology of producing its products in Australia and shipping the finished goods to the sales outlets. This means that the technology used will be the Australian technology that follows strict Australian Standards of production. The entry of Ocean March will bolster the Chinese food technology industry. The current food technology transfer specifically in the processing and fish culture prior to the entry of Ocean March is very limited. Ocean March will definitely make a complete makeover of the frozen food products technology there (Ho, and Huenemann 1984, 70).
5.0 market analysis
5.1 product (ingredients and benefits)
The product is a frozen food product company. The ingredients include lobsters, clams, fish, squid and other palatable water creatures from the sea. The Ocean March products will be tailored to suit the different taste of the customers and the hotel chefs.
5.2 place and price
The place is the very important reason for setting up shop. The frozen seafood products will be reasonably priced. This reasonable price will include all the cost of producing the recipe book. Shanghai is one of the biggest cities in China. Also, the population of Shanghai has reached over 16,740,000 in 2000 alone (Smith 2002,1). In a global analysis of consumer culture, Shanghai’s busiest business district, Nanjing Road, has many similarities with the busy New York Times Square. This is due to the unique Chinese culture (Austin 2001, 448).
Shanghai has been rightfully propped up as the center of finance and trade in mainland China. The other China is synonymous with Taiwan. Economic developments in Shanghai start it on its path towards economic greatness started in 1992. In fact, Shanghai has the largest share of the market in China. Shanghai is also the worlds’ busiest port. It ranks as the busiest port around the world in terms of volume of cargo. This is because of the exports and imports of goods passing its ports of call. (Asia Times 2006). A Mckinley report states that most of the foreign consumer goods corporations prop themselves up at the top of the Chinese market pyramid. This results to involving building a premium brand that is focused at gaining the interest and money of the richest five percent of the consumers in China. And these few rich residents of China can be found in Shanghai and Beijing. These are the two major cities of China. Some of these companies that have successfully set up shop in China are Coca Cola, Nestle and Procter & Gamble. They have generated annual revenues reaching more than $100 million (Woetz, 2002, p1) Likewise, In its march 8, 2007 issue of the Shanghai daily issue (Wenjun, 2007 p1), the census showed that there were 2,070,000 residents in Shanghai. The current census in 2006 showed that the Shanghai population had ballooned to 18,150,000 residents. This is expected to explode to 19,000,000 in the year 2010. Also, there were 5,810,000 migrant workers in Shanghai in 2005 alone (2007). (Wenjun, 2007 p 1)
5.3 Promotion
In terms of promotion, the frozen products of Ocean March will be advertised aggressively. For example, the ad printouts will be posted in all conspicuous places in the vicinity of the Ocean March product outlets. These outlets are the grocery chains, the public markets and the exclusive restaurants. Also, these Ocean March posters will be pasted on allowable public places in the vicinity of transportation terminals. For maximum exposure of their mouth watering products, money will abundantly pour into advertisements in the tri –media. For, a full blast promotional campaign would be to advertise the frozen products of Ocean March in the fifteen second prime time programs in a Shanghai –wide television station. Also, the Ocean March frozen product advertisements will pour into the radio stations and the newspapers in Shanghai. For the six months. Then, the advertising costs will drop to fifty percent starting on the seventh month. (Reddy 1994).
5.4 Target market and segmentation
The target market will be the residents of Shanghai China. In addition, the company will be research on the company’s prospective Chinese clients’ preferences in terms of taste, price and services as they prepare for a deluge of customers from the outskirts of Shanghai. The company will be ready to increase the number of its sales figures …. (Michman, 1991).
5.5 Positioning and Competition.
The Australian company, Ocean March, will be positioned as the number one choice of people of all walks of life. The market segment is the resident of Shanghai. These Shanghai, segments will be complemented by the same market segments in the outskirts of Shanghai, China. (Michman 1991, 25)
5.5 Positioning Map
Comfortable Environment
● Restaurants
Low Price
High Price
● Ocean March
● Noodle Houses
Fast Environment
The above position map shows that Ocean March is well entrenched. For, it caters to clients who are always on the go as well at a not so low price. However, it menu prices are higher than the noodle house prices in Shanghai to cater to the low income as well as the middle income Shanghai clients. Further, Ocean March has a lower price compared to the restaurants and caters. They cater to clients who are busy and need fast service as compared to the restaurants who offer cozy environments in exchange for a very high menu price.
5.6 Competitive advantage
The competitive advantage of Ocean March frozen products in Shanghai, China is very evident. Trend analysis in Australia and the economic make –up of Shanghai will combine well to produce a very strong demand of the Ocean March products there.
The competition in Shanghai, China would be local frozen as well as fresh products
6.0 Critical analysis of why frozen company should distribute their product to china
6.1 Advantages of marketing the Ocean March products to Shanghai, China.
There are many advantages of buying an Ocean March frozen food products. Some of the many reasons are:
● The frozen food products that are imported from Australia will be a model for other companies to set up a branch in Shanghai, China.
● The company will be the pioneer in the imported frozen seafood market segment in Shanghai.
● The company will help its head office in Australia to generate more income with the new seafood branch in China.
● The Ocean March products will completely satisfy the choosy tasted buds of the middle and upper class residents of Shanghai.
● The people will crave for the differently unique recipe varieties offered.
● Ocean March is entering and paving the way for other businesses planning to sell their products in Shanghai.
6.2 Disadvantages of marketing the Ocean March products to Shanghai, China.
● It would take a long time to persuade the many of the average earning Chinese residents of Shanghai to change their eating preferences to the Australian Ocean March product.
● Maslow stated that the basic need of the average person is eating food and not eating expensive meals.
● It will take time to master the business laws of China.
● The company has to exert extra effort to sell the frozen seafood products because the Chinese culture is different from the Australian culture.
● The Chinese people have just evolved from a slow economy and the people are still used to buying only a few items
7.0 Critical discussion of available entry modes
7.1 Export (based entry)
The company Ocean March will be setting up its branch in Shanghai, China. The Australia frozen food company will flaunt its menus inside its sea food establishment with mouth watering recipes that uses the latest cooking technologies that are available in restaurants, hotels and the similar places. This technological strategy is very advantageous to the Australian company for it caters to the needs of the middle income and the rich people of Shanghai, China. (Applebaum 2004).
7.2 Establishing a sales office in foreign market
-Franchising
The Australian company Ocean March will be open to the idea one Chinese company or two to open a franchise shop in Beijing and other cities outside Shanghai.
The company’s advertising campaigns in Shanghai. Franchising is good strategy to increase the coffers of the Australian frozen seafood company (Baldwin, and Cave 1999).
-Licensing
The company, Ocean March, will apply for and comply with all the licensing requirements mandated by the law in Shanghai, China. Ocean March will sell its products in major outlets set up in Nanjing road Shanghai, China to generate profits (Banerjee, Bygrave, and Leleux 1997).
7.3 Manufacturing -based entry
The company focuses importing its frozen products from Australia. It will not manufacture its products in China in order to pamper its customers. For, the Chinese people will love to spend money on the imported Australian food products (Lewis 1993).
7.4 Relationship -based entry
The Company can be easily set up in Shanghai, China because of relationship. The government will benefit because the local Shanghai Chinese will be the only employees hired by the company. Here, the Chinese government would approve the Ocean March license application to set up shop in Shanghai because the Australian company will be providing much need jobs to the Shanghai government’s relationship – their Chinese residents. (Knight & Song 2005).
8.0 Conclusion
The Australian company, Ocean March, is engaged in the business of selling frozen products. The company It is very profitable to set up a seafood branch in Shanghai, China because Shanghai is one of the two cities in China (the other is Beijing) that has the most populous business environment. This means that there is a big demand for food in Shanghai. Also, the laissez faire or free economics means that the company can easy entice as well as pamper the Chinese residents in Shanghai with mouth –watering and delicacies of Ocean March. The market analysis above shows that the frozen food products are very salable because the demand based on the population is more than the supply of seafood that Ocean March initial will be able to prepare on its freshman year in Shanghai. The Australian company has chosen the relationship entry mode in setting up its shop in Shanghai, China. For, the company will be hiring the local Chinese residents to man and sell the company’s Ocean March frozen product. For, this is the best entry method that will assure the company that the Chinese authorities in Shanghai, China will approve its license to operate its outlets within the suburbs of the city. In terms of positioning, Ocean March will be profitable in the semi -fast food type of business because it will cater to the discriminating taste of the low and middle income earners as well as the busy businessmen and employees. Setting up a business in Shanghai, China This two -phase marketing strategy will surely increase the annual sales of the company.
9.0 Recommendation and rational of chosen entry mode
It is highly recommended that the Australian company, Ocean March, will set up a branch in Shanghai, China using the relationship entry mode. The rationales of the chosen entry mode are:
● This is the best entry mode that would increase the Shanghai, China government’s granting of a license to set up shop in its locality.
● This entry mode clearly shows that the Australian company will hire the local Chinese residents to manage and sell the Ocean Deep products. The Chinese Ocean March workers are the relationship of the local Shanghai government officers.
● The frozen seafood enthusiasts will prefer to buy the Ocean March products if they are sold and managed by their fellow Chinese sales people.
● Hiring the local Chinese people to man the Ocean March outlets will save the Australian company in terms of wages.
● The company will hire teenagers to man the seafood outlet because the teen –agers will not demand big salaries like the married applicants.
● The company will research the profitability of including in its menu Chinese seafood ingredients to complement its imported Australia.
● The company will advertise its sea products and hire Chinese sales personnel to market its seafood products
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WEBSITE:
Ocean March, Retrieved Jan 11, 2008, <www.quickandeasy.com.au>
Office of the mayor, Shanghai, China, Retrieved Jan 22,2008, <www.shanghai.gov.cn/shanghai/node17256/node17457/node17538/node17540/userobject22ai3484.html>
Australian government, Retrieved Jan 22, 2008,
http://www.ato.gov.au/businesses/content.asp?doc=/content/44266.htm&pc=001/003/019/001/006&mnu=601&mfp=001/003&st=&cy=1
