Distributor Request And Market Proposal †MyAssignmenthelp.com

Question: Discuss about the Distributor Request And Market Proposal. Answer: Introduction The Marketing proposal plan will focus on the strategies and methods; marketing techniques that Rum Distributors can adopt. Industry report and analysis According to (Euromonitor International 2012), the value of the Rum market in Nigeria grew 13% in 2013. A chart is mentioned below to exhibit export and import data of Rum products in Nigeria. Consumer behavior Nigeri' health Ministry stated that consumers in Nigeria spent nearly $4 billion on Rum products every year. The amount had increased by $1 million in the year of 2014 and became 5$ (Blythe, 2013). Market Segmentation Market segmentation in Nigeria is Geographical Segmentation, Psychographic segmentation, and Behavioral segmentation. Rum companies can target consumers according to their geographic location and demand. SWOT analysis The main weakness of Rum market in Nigeria is it totally depends on the economic growth of the country. Because of steady economic growth, the Rum market had great opportunities but now the market is slowing down and as Nigerias GDP came down to 2.9% in 2014 (Creative Educational Video, Inc., Insight Media Firm, 2009). It is also the main threat to the Rum industry along with fierce competition. Strategy to promote Rum product Some strategies to exhibit a Rum in Nigerian market are, establishing a partnership with someone who is already familiar with the market, joining hands with local partners, building trust among the consumers, developing women business network and finally, developing a firm social network presence Rum exhibition strategies in Nigeria Building trust among the consumers, developing a strong social network existence, forming partnerships with people who already in the market and have a familiarity on how the business is conducted, joining the local associates and lastly increasing women business networks (Nigeria Federal Government Economic Reform Governance Project, 2007). Competition Leading Rum companies is Nigeria are Hagen Co. Ltd, Hopeful Invet. Ltd and Jocletz Products Ltd. This shows how the industry is competitive. Opportunities According to Business (2012), despite of fierce competition among the Rum companies in Nigeria, there is another fact, which states that international companies of Rum are dominating the market in Nigeria with 75% market share. Risks Entering the Rum market of Nigeria can be considered as risky at this moment. The economy is falling so people are not showing same interest towards the products. Besides, some companies are already present in the market. Conclusion In spite of having some risks, it is clear that Nigeria Rum market has an enormous opportunity for new entrees. Propermarketing strategy can help an organization to achieve a secure place in the Nigeria market. References Abam, F. I., Nwankwojike, B. N., Ohunakin, O. S., Ojomu, S. A. (July 01, 2014). Energy resource structure and on-going sustainable development policy in Nigeria: a review. International Journal of Energy and Environmental Engineering, 5, 1-16. Blythe, J. (2013). Consumer behaviour. London: SAGE. Creative Educational Video, Inc., Insight Media (Firm). (2009). SWOT analysis. Lubbock, Tex.: CEV Multimedia. In Cervigni, R., In Rogers, J. A., In Henrion, M., World Bank. (2013). Low-Carbon Development: Opportunities for Nigeria. Washington, D.C: The World Bank. In Correia, A., In Gnoth, J., In Kozak, M., In Fyall, A. (2015).Marketing places and spaces. Melissen, J., Sohn, Y. (2015). Understanding public diplomacy in East Asia: Middle powers in a troubled region. Nigeria., Nigeria., Federal Government Economic Reform Governance Project (Nigeria). (2007). Consumption pattern in Nigeria. Nigeria: Federal Republic of Nigeria.