Executive summary

Our selected product is cloth and Yellow, which is the part of Beximco company, they are making many kinds of cloths such as Mens Formal Shirts Ultra Formal , Mens Casual Shirt, Men's bottoms , Men's Denim Pants , Ladies Pants/Skirts , Ladies Tops , Ladies knits , Mens Knits and Mens neckties .

We are selected Spain for exporting our product. Spain is the part of EU region. In Spain, there are lot of well-known brand such as Zara, Resole, Telefonica, BBVA, El Pais, Mapfre, Fortuna etc. we want to promoting our brand in this country but there are lots of local brands so there are hard competition. But we have some competitive advantage, firstly, our brand name is yellow and yellow color present in our every products. The meaning of yellow to Spanish people is happiness, wisdom, imagination and shrewd personality. Second competitive advantage is our products are cheaper from others competitors products but quality almost same, we sell our product in low price because in our country labor cost and raw materials are cheap so production cost is also low. With these advantages, we try to promote our product in Spain successfully and it’s our main objectives.

In our report ,we briefly discuss about our selected product, our brands, our main competitors in Spain, Spanish culture. We also describe in our report about many kinds of theory such as Global marketing, Greet Hofsted theory, Maslow theory, segmentation, targeting , positioning ,legal, economic, political, entry strategy, entry modes and SWOT(strength, weakness, opportunity, threats) and we analyzing this theory on base of Spain.

We try to know about the Spanish people and their culture and which types of dress and which color of dresses they like and what types of price they like. We try to define Spanish people by using many theory. We segmenting, targeting and positioning Spanish customers and try to know about the business law of Spain, the economic and political condition of Spain and the legal, political and economical condition will help for promoting our product in Spain or not. We making our strategies for entry in Spain and analyzing competitors of Spain in cloths market. We also try to find out our opportunity, threats, strengths and weakness in Spain. If al things are favor with our, we promoting our products in Spain successfully and earn lots of profit and satisfaction of consumers.

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Table of contents

1.0.Introduction 4

2.0.Company information 5

2.1.History of the company 5

2.2.Competition in the local market 6

2.3.Products of yellow 6

3.0.Country profile of Spain 7

3.1.History of Spain 7

3.1.1.The Spanish democracy 7

3.1.2.Spanish culture 7

3.2.Compitiors of Yellow in Spain 8

4.0.Theory 9

4.1.Theory of Global marketing 9

4.2 Culture 9

4.2.1 Hofstede Cultural typology 9

4.2.2. Maslow’s Hierarchy of Needs 11

4.3 Segmentation, Targeting, and Positioning 11

4.3.1.Segmentation 11

4.3.2 Target 12

4.3.3.Positioning 12

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4.4 Legal environment, political environment

And economic environment 12

4.5 Entry Strategy 12

4.5 .1 Entry modes 13

4.5 .2 SWOT Analysis 145.0Analysis 16

5.1:Global marketing 16

5.2:Culture 16

5.2.1 Hofstede Cultural typology 16

5.2.2. Maslow’s Hierarchy of Needs 17

5.3 Segmentation, Targeting, and Positioning 17

5.3.1.Segmentation 17

5.3.2 Target 18

5.3.3.Positioning 19

5.4 Legal environment, political environment

And economic environment 20

5.5 Entry Strategy 20

5.5.1.SWOT analysis 21

6.0.Conclusion 22

7.0. References 23

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8.0.Appendix 24

1.0.Introduction:

Our products are cloths. The first kinds of clothing were made of animal skin and different types of furs. This method was used for years and it was working. However, because they were using fur, the cases of lice were growing so they started finding other materials to use.

Cloths of Different civilization:

Egyptian Clothes:

Not surprisingly given the hot climate Egyptians wore only light clothing. Men wore a loincloth and a kind of kilt. Women wore dresses with shoulder straps. Clothes were made of linen or cotton. Later in Egyptian history clothes became more elaborate and colorful.

Greek Clothes:

Despite the warm climate Greek women wore clothes that covered most of their bodies. Greek women wore rectangles of woollen cloth folded and pinned together with holes for the arms and head. It was tied at the waist. Greek men wore plain tunics of wool tied at the waist. Men also wore cloaks called himations and if they were travelling they wore broad rimmed hats.

Roman Clothes:

Roman men wore tunics. Roman citizens wore a semi-circular piece of cloth called a toga. It was folded over one shoulder. Men wore white togas made of wool or linen. Senators wore a toga with a purple stripe as a mark of their

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rank. Women wore long dresses called a stola, dyed different colors. Often they wore a long shawl called a palla.

The important of cloths:

Clothing is defined as the coverings of the torso and limbs, as well as the coverings for the hands, feet and head. In most cultures, clothing was introduced as a method of protecting the human body against extreme weather conditions -strong winds, intense heat, cold and precipitation. In particular, the weaves of clothes prevent the circulation of air around the skin and thus, avoid the exit of the air reheated by the skin, which makes people feel uncomfortable and cold. Additionally, the clear weaves of clothing avoid the ultraviolet radiation of the sun and the burns in the skin, protecting it, therefore, from the heat. Finally, more impermeable weaves protect the human body from coming into contact with the water of rain or snow.

2.0.Company information:

Bangladeshi company Beximco will open a chain of stores named Yellow in a number of cities in world. Beximco Textiles Ltd, an export division of Beximco Group, has gone ‘YELLOW’, setting up a new chain of exclusive fashion shops in Bangladesh and sell the high quality garments that it produces for exports. Yellow is a design driven brand and celebrates creative and original thinking to highlight lighthearted and optimistic view of life through superior quality product. Their style capture a modern interpretation of fashion and their relax attitude expresses a comfortable and a confident quality. The adventurous spirit of the line is build from Beximco group heritage in innovation and living a life full of passion that is open to discovery. They are inspired by their customer, unconventional yet high quality. Progressive yet tastefully casual-yellow embraces harmony through conflict.

Beximco eventually plans to establish the Brand “YELLOW” worldwide, starting from the Asian Market. Beximco Textiles is a vertically integrated self sufficient company. They manufacture everything from yarn to fabric to garments in their own factories. Since the company has in house laundry, printing, embroidery and lab it can make garments for the retail market in a very cost efficient manner and sell at an affordable price range. The stores offer a truly international shopping experience with well-designed spaces. Yellow plans to open stores in South East Asia, The Middle East & Europe.

2.1.History of the company:5

Beximco Group is supposed to be Bangladesh's largest private sector industrial enterprise. It has targeted the industries the country needs most for progress and improved living standards. Beximco is also focused on those industries, which make the most of Bangladesh's competitive advantages in the international market. Through its ongoing growth, it has created industrial and management capabilities that will serve the country for generations. BEXIMCO's industrial sector includes jute, textiles, basic chemicals and pharmaceuticals and marine foods. Non-industrial undertakings are focused on real estate and construction, engineering, media, information technology, trading and financial services. BEXIMCO Textile Division consisting of 7 industries having the capability to offer a complete product range for the export and domestic textile markets. BEXIMCO Textiles Ltd. (BTL) is the most modern composite mill in the region. BTL has an installed capacity of 288 high-speed air-jet looms in its weaving section and a high-tech dyeing and finishing section with a capacity of 100,000 yards of finished fabric per day. BEXIMCO Knitting Ltd. is a state of the art composite knit fabric production mill, which serves the growing needs of high-quality knit garments exporters in Bangladesh. BEXIMCO Denims Ltd. It was set up to capitalize on Bangladesh's growing volume of high-value-added niche garments. BEXIMCO Fashions Ltd., a 100% export oriented garments factory is located in the Dhaka Export Processing Zone at Savar. Padma Textile Mills Ltd. a cotton and polyester blended yarn-spinning mill, with 122,000 spindles is one of the largest spinning mills of the country. BEXIMCO Synthetics Ltd. is a polyester filament yarn and drawn textures yarn (DTY) production unit located near the BEXIMCO Industrial Park. BEXIMCO Apparels Ltd. is another 100% export oriented garments factory of the Beximco Textiles Division. It specializes in women's tops and men's shirts.

2.2.Competition in market:

Bangladesh has recently come to the focus. Along with the world demand, the local market is also altering itself to rapid changes in fashion trends. Bangladesh's largest sector Garments/Textiles is recently looking for Fashion Designers and Highly skilled technical Personnel. So they know about the latest trends and tastes in this field. This field is highly competitive and they need to be not just talented, but also very determined, ambitious and hardworking with a good business sense. Communication skills are important to be able to put across ideas and concepts clearly for the workers as well as the clients. A good hand at sketching can be helpful. In the long run, to make it on their own, they should have knowledge of colures, styles, shapes and the various types of fabrics. A well-groomed and attractive personality is also important.

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So there are lots of well-known brand such as Arong, kay kraft, Artiste, Ecstasy Anjan, Jatra, Deshal, Vasavi, Nabila, Mantra, Cats eye, Westecs, Annamela, Rang etc. These all are local brands and these are main competitor of Yellow. They also know latest trends and tastes of customers.

2.3Products of Yellow:

They have their own Fashion design and Product development department where designers study the globally Yellow's creations evoke a sense of freshness, energy & exuberance. It brings to customers high Quality fashion & life style at affordable prices. They produce different types of products such as Shirt, T-Shirt, Trousers, Jackets, skirts, tops, bottoms, jeans, Sweater etc.

3.0.Country profile of Spain:

Area: 504,782 km², of which 499,542 km² is land and 5,240 km² is water.

Population: 44.6 million (source UN 2008)Capital City: MadridLanguages: Castilian Spanish - 74%, Catalan - 17%, Galician - 7%, Basque - 2%Life Expectancy: 78 male, 84 female (source World Health Organisation)People: Approximately 11% of the Spanish population are foreign nationals. Top foreign nationalities in Spain are Moroccan (748k), Romanian (700k), Ecuadorian, (442k), Colombian (287k) and British (217k registered with the police and 1 million do not live in Spain permanently).Religions: Roman Catholic - 94%; Protestant/other - 6% (source CIA World Factbook)Currency: Euro

Major industries: agriculture, fishing, construction, wine, cement, chemicals, engineering, petroleum refining, forestry and timber, iron and steel automobiles, textiles, telecommunications

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Major trading partners: EU, Latin America. Net exporter of capital since 1999. Spain was the largest single investor in the UK in 2006. Eighth largest economy in the world. Per capita income now higher than Italy

3.1.History of Spain:

3.1.1.The Spanish Democracy:

The transition from dictatorship to democracy began with Franco’s death on 20 November 1975, its completion was marked by the electoral win of the socialist PSOE Party on 28 October 1982 in free democratic elections. The Spanish monarch King Juan Carlos was instrumental in the promotion of democracy; he intervened in the coup attempt known as “23-F” causing the plot to fail.

After the political transformation Spain changed radically adopting liberal values and free market practices, whilst maintaining the Spanish way of life.

3.1.2Spanish culture:

The Spanish culture is rich, colorful and mysterious. Yes, the Spanish culture and lifestyle differs tremendously from that of the other European countries, and UK. There are so many different attitude and character traits that might even seem a little offensive and blunt to people from other cultures, especially the Brits. But, this is who they are and this is exactly how they are. This is the beauty of Spain! the culture in Spain is greatly influenced by people of all cultures, ranging from the Greeks and Romans to the Muslims, North Africans and Phoenicians. With their barging and touching and not standing in queues, the Spaniards are just as colorful as their culture, and if you are looking for an exciting, eventful holiday – Spain is the place to go! And, you don’t even have to know the main languages of Castellano and Valencia!

Spain is more or less a Christian nation wherein around 77 percent of the population is part of the Catholic Church, while only 1 percent belongs to the Protestant Church. However, there is a good mix of other religions like Islam as well.

Bullfighting is probably the most popular of all the Spanish traditions and culture, reflecting the great influence that other cultures and races had on this beautiful country. Brought into the Iberian Peninsula by the Greeks and Phoenicians, bullfighting is a sport that has evolved over the centuries and has since then adapted well with the Spanish culture. Originally, the sport involved men riding horses and fighting raging bulls, but it eventually

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changed to men, or matadors, fighting bulls off without the aid of horses. Bullfighting is seen more as a ritualistic event today than a sport.

Spain fashion is an integral part of the culture Spain. Be it the formal suits and elegantly cut tuxedos or be it the slightly unconventional and experimental rainproof ponchos, balloon silhouettes and the fashionable checked and striped sweaters, Spanish men have a plethora of options when it comes to smart dressing. Women too, need not be disappointed. They can collect a haute-couture of some very stylish clothes in bold and dashing prints that are well cut with fine lines and silhouettes that accentuate the figure. Besides sleek jewelry, elegant footwear and accessories are also available aplenty in the country.

The Spanish Health Ministry however has mandated that all Spanish clothes wear brands ranging from Zara, Mango, Inditex, Cortefiel and El Corte Ingles maintain uniformity when it comes to defining the clothing sizes of the women. The widely varying sizes tend to result in extreme depression and some figure conscious women and young teenagers take to crash dieting. Thus health disorders and the strong possibility of suffering from anorexia bulimia has prompted the health officials to undertake this measure.

3.3.Competitors of Yellow In Spain:

There are also high potential competitions. A local brand may present competition to entering multinational. In Spain, lots of popular local brand are here such as Zara, Resole, Telefonica, BBVA, El Pais, Mapfre, Fortuna etc. yellow must try more or different promotion or may acquire the local company or form an alliance with it. They like well-known brand.

4.0.Theory

4.1 Theory of Global Marketing:

The process of conceptualizing and then conveying a final product or service worldwide with the hopes of reaching the international marketing community. Proper global marketing has the ability to catapult a company to the next level, if they do it correctly. Different strategies are implemented based on the region the company is marketing to. For example, the menu at McDonald's varies based on the location of the restaurant. The company focuses on marketing popular items within the country. Global marketing is especially important to companies that provide products or services that have a universal demand such as automobiles and food.

4.2 Culture:

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A culture is built up by a group of human being and acts out as a way of living in the context of social institution, including family, educational, religious, governmental and business institution. Culture includes both conscious and unconscious values, ideas, attitudes, and symbols that shape human behavior and that are transmitted from one generation to another generation.

4.2.1 Hofstede Cultural typology:Power Distance Index (PDI) that is the extent to which the less powerful members of organizations and institutions (like the family) accept and expect that power is distributed unequally. This represents inequality (more versus less), but defined from below, not from above. It suggests that a society's level of inequality is endorsed by the followers as much as by the leaders. Power and inequality, of course, are extremely fundamental facts of any society and anybody with some international experience will be aware that 'all societies are unequal, but some are more unequal than others'. Individualism (IDV) on the one side versus its opposite, collectivism, that is the degree to which individuals are inte-grated into groups. On the individualist side we find societies in which the ties between individuals are loose: everyone is expected to look after him/herself and his/her immediate family. On the collectivist side, we find societies in which people from birth onwards are integrated into strong, cohesive in-groups, often extended families (with uncles, aunts and grandparents) which continue protecting them in exchange for unquestioning loyalty. The word 'collectivism' in this sense has no political meaning: it refers to the group, not to the state. Again, the issue addressed by this dimension is an extremely fundamental one, regarding all societies in the world. Masculinity (MAS) versus its opposite, femininity, refers to the distribution of roles between the genders which is another fundamental issue for any society to which a range of solutions are found. The IBM studies revealed that (a) women's values differ less among societies than men's values; (b) men's values from one country to another contain a dimension from very assertive and competitive and maximally different from women's values on the one side, to modest and caring and similar to women's values on the other. The assertive pole has been called 'masculine' and the modest, caring pole 'feminine'. The women in feminine countries have the same modest, caring values as the men; in the masculine countries they are somewhat assertive and competitive, but not as much as the men, so that these countries show a gap between men's values and women's values. 

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Uncertainty Avoidance Index (UAI) deals with a society's tolerance for uncertainty and ambiguity; it ultimately refers to man's search for Truth. It indicates to what extent a culture programs its members to feel either uncomfortable or comfortable in unstructured situations. Unstructured situations are novel, unknown, surprising, different from usual. Uncertainty avoiding cultures try to minimize the possibility of such situations by strict laws and rules, safety and security measures, and on the philosophical and religious level by a belief in absolute Truth; 'there can only be one Truth and we have it'. People in uncertainty avoiding countries are also more emotional, and motivated by inner nervous energy. The opposite type, uncertainty accepting cultures, are more tolerant of opinions different from what they are used to; they try to have as few rules as possible, and on the philosophical and religious level they are relativist and allow many currents to flow side by side. People within these cultures are more phlegmatic and contemplative, and not expected by their environment to express emotions.

Long-Term Orientation (LTO) versus short-term orientation: this fifth dimension was found in a study among students in 23 countries around the world, using a questionnaire designed by Chinese scholars It can be said to deal with Virtue regardless of Truth. Values associated with Long Term Orientation are thrift and perseverance; values associated with Short Term Orientation are respect for tradition, fulfilling social obligations, and protecting one's 'face'. Both the positively and the negatively rated values of this dimension are found in the teachings of Confucius, the most influential Chinese philosopher who lived around 500 B.C.; however, the dimension also applies to countries without a Confucian heritage. 

4.2.2 Maslow’s Hierarchy of Needs :

Biological and Physiological needs - air, food, drink, shelter, warmth, sex, sleep, etc. Safety needs - protection from elements, security, order, law, limits, stability, etc. Belongingness and Love needs - work group, family, affection, relationships, etc. Esteem needs - self-esteem, achievement, mastery, independence, status, dominance, prestige, managerial responsibility, etc. Self-Actualization needs - realizing personal potential, self-fulfillment, seeking personal growth and peak experiences.

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4.3 Segmentation, Targeting, and Positioning

 Segmentation, targeting, and positioning together comprise a three stage process.  We first (1) determine which kinds of customers exist, then (2) select which ones we are best off trying to serve and, finally, (3) implement our segmentation by optimizing our products/services for that segment and communicating .

4.3.1.Segmentation:

Segmentation involves finding out what kinds of consumers with different needs exist.  In the auto market, for example, some consumers demand speed and performance, while others are much more concerned about roominess and safety.  In general, it holds true that “You can’t be all things to all people,” and experience has demonstrated that firms that specialize in meeting the needs of one group of consumers over another tend to be more profitable.

Generically, there are three approaches to marketing.  In the undifferentiated strategy, all consumers are treated as the same, with firms not making any specific efforts to satisfy particular groups.  This may work when the product is a standard one where one competitor really can’t offer much that another one can’t.  Usually, this is the case only for commodities.  In the concentrated strategy, one firm chooses to focus on one of several segments that exist while leaving other segments to competitors.  For example, Southwest Airlines focuses on price sensitive consumers who will forego meals and assigned seating for low prices.  In contrast, most airlines follow the differentiated strategy:  They offer high priced tickets to those who are inflexible in that they cannot tell in advance when they need to fly and find it impractical to stay over a Saturday.  These travelers—usually business travelers—pay high fares but can only fill the planes up partially.  The same airlines then sell some of the remaining seats to more price sensitive customers who can buy two weeks in advance and stay over.

Note that segmentation calls for some tough choices.  There may be a large number of variables that can be used to differentiate consumers of a given product category; yet, in practice, it becomes impossibly cumbersome to work with more than a few at a time.  Thus, we need to determine which variables will be most useful in distinguishing different groups of consumers.  We might thus decide, for example, that the variables that are most relevant in separating different kinds of soft drink consumers are (1) preference for taste vs. low calories, (2) preference for Cola vs. non-cola taste, (3) price sensitivity—willingness to pay for brand names; and (4) heavy vs. light consumers.  We now put these variables together to arrive at various

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combinations. Several different kinds of variables can be used for segmentation. 

4.3.2 Target:

In the next step, we decide to target one or more segments.  Our choice should generally depend on several factors.  First, how well are existing segments served by other manufacturers?  It will be more difficult to appeal to a segment that is already well served than to one whose needs are not currently being served well.  Secondly, how large is the segment, and how can we expect it to grow?  Thirdly, do we have strengths as a company that will help us appeal particularly to one group of consumers?  Firms may already have an established reputation.  While McDonald’s has a great reputation for fast, consistent quality, family friendly food, it would be difficult to convince consumers that McDonald’s now offers gourmet food.  Thus, Mc Donald’s would probably be better off targeting families in search of consistent quality food in nice, clean restaurants.

4.3.3.Positioning:

Positioning involves implementing our targeting.  For example, Apple Computer has chosen to position itself as a maker of user-friendly computers.  Thus, Apple has done a lot through its advertising to promote itself, through its unintimidating icons, as a computer for “non-geeks.”  The Visual C software programming language, in contrast, is aimed a “techies.”

4.4 Legal environment, political environment and economic environment:

Legal environment means Sets the basic rules for how a business can operate in society. Political environment means all laws, government agencies, and lobbying groups that influence or restrict individuals or organizations in the society. Economic environment consists of all factors-such as salary levels, credit trends, and pricing patterns- that affect consumer spending habits and purchasing power.

4.5 Entry Strategy:

A mode of entry into an international market is the channel which your organization employs to gain entry to a new international market. This lesson considers a number of key alternatives, but recognizes that alternatives are many and diverse. Here will be consider modes of entry into international markets such as the Exporting, Licensing, International Agents, International Distributors, Strategic Alliances, Joint Ventures, Overseas Manufacture and

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International Sales Subsidiaries. Finally we consider the Stages of Internationalization.It is worth noting that not all authorities on international marketing agree as to which mode of entry sits where. For example, some see franchising as a stand alone mode, whilst others see franchising as part of licensing. In reality, the most important point is that you consider all useful modes of entry into international markets - over and above which pigeon-hole it fits into. If in doubt, always clarify your tutor's preferred view.

4.5 .1 Entry modes

ExportingThere are direct and indirect approaches to exporting to other nations. Direct exporting is straightforward. Essentially the organization makes a commitment to market overseas on its own behalf. This gives it greater control over its brand and operations overseas, over an above indirect exporting. On the other hand, if you were to employ a home country agency (i.e. an exporting company from your country - which handles exporting on your behalf) to get your product into an overseas market then you would be exporting indirectly. Examples of indirect exporting include:LicensingLicensing is where your own organization charges a fee and/or royalty for the use of its technology, brand and/or expertise International Agents and International DistributorsAgents are often an early step into international marketing. Put simply, agents are individuals or organizations that are contracted to your business, and market on your behalf in a particular country. They rarely take ownership of products, and more commonly take a commission on goods sold. Agents usually represent more than one organization. Agents are a low-cost, but low-control option. If you intend to globalize, make sure that your contract allows you to regain direct control of product. Of course you need to set targets since you never know the level of commitment of your agent. Agents might also represent your competitors - so beware conflicts of interest. They tend to be expensive to recruit, retain and train. Distributors are similar to agents, with the main difference that distributors take ownership of the goods. Therefore they have an incentive to market products and to make a profit from them. Otherwise pros and cons are similar to those of international agents.

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Strategic Alliances (SA)Strategic alliances is a term that describes a whole series of different relationships between companies that market internationally. Sometimes the relationships are between competitors. There are many examples including:Joint Ventures (JV)Joint Ventures tend to be equity-based i.e. a new company is set up with parties owning a proportion of the new business. There are many reasons why companies set up Joint Ventures to assist them to enter a new international market:Overseas Manufacture or International Sales SubsidiaryA business may decide that none of the other options are as viable as actually owning an overseas manufacturing plant i.e. the organization invests in plant, machinery and labor in the overseas market. This is also known as Foreign Direct Investment (FDI). This can be a new-build, or the company might acquire a current business that has suitable plant etc. Of course you could assemble products in the new plant, and simply export components from the home market (or another country). The key benefit is that your business becomes localized - you manufacture for customers in the market in which you are trading. You also will gain local market knowledge and be able to adapt products and services to the needs of local consumers. The downside is that you take on the risk associated with the local domestic market. An International Sales Subsidiary would be similar, reducing the element of risk, and have the same key benefit of course. However, it acts more like a distributor that is owned by your own company.Internationalization StagesSo having considered the key modes of entry into international markets, we conclude by considering the Stages of Internationalization. Some companies will never trade overseas and so do not go through a single stage. Others will start at a later or even final stage. Of course some will go through each stage as summarized now:

4.5 .2 SWOT Analysis:

SWOT analysis provides information that is helpful in matching the firm resources and capability to the competitive environment in which it operates . As such, it is instrumental in strategic formulation and selection. The following diagram shows how a SWOT analysis fits into an environmental scan.

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Strengths: A firm strength are in resources and capabilities that can be used as basis for developing a competitive advantage. Examples of such strengths include:

Patents Strong brands name

Good reputation among customers

Cost advantages from proprietary know-how

Exclusives access to high grade natural recourses

Favorable access to distribution networks

Weaknesses: The absence of certain strength may be viewed as a weakness. For example, each of the following may be considered weakness:

Lack of patent protection A weak brand name

Poor reputation among customers

High cost structure

Lack of access to the best natural recourses

Lack of access to key distribution channel

Opportunities External environmental analysis may reveal starting new opportunities for profit and growth . Some examples of such opportunities include:

An unfulfilled customer need Arrival of new technologies

loosen of regulation

Removal of international trade barriers

Threats

Changes the external environment also may present threats to the firm. Some examples of such threats include:

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Sift in customer tastes Emergence of substitute products

New regulation

Increased trade barriers

5.0. Analysis

5.1.Global marketing:

Our product is cloths and our brand is Yellow and its Bangladeshi products and we promoting our product in Spain, so we change our marketing strategies for Spanish people and analyze Spanish culture and we find out the choice and demand of Spanish people. So we change our local market strategies for promoting our product in Spain and capture Spanish market.

5.2.Culture:

We analyze Spanish culture for promoting our Brand in Spain. Example: in our culture ladies are wearing salowar kamiz but in Spain,ladies are not wear salowar kamiz because their culture is different form our culture.

5.2.1. Hofstede Cultural typology:

Hofstede cultural dimension are four and they are power distance, individualism, uncertainty avoidance and masculinity. Now we are discuss about Spanish culture according Hofstede cultural dimension:

Power Distance :

In the diagram we see that 61% people have high power distance. So in Spain there are high power distance .In Spain there are hierarchy and bureaucracy . That is the extent to which the less powerful members of organizations and institutions (like the family) accept and expect that power is distributed unequally. In Spain ,power is distributed unequally and it’s represented that less powerful people are dominated by high powerful people.

Individualism verses collectivism :

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In the diagram we se that 55%people are high individualism. The ties of Spanish people are loose. everyone is expected to look after him/herself and his/her immediate family.

Masculinity verses Feminine:

In the diagram we see that 47% people are Masculinity and 53% are feminine. The women in Spain have modest, caring values as the men. In Spain there are no differentiate among male and female.

Uncertainty avoidance:

In the diagram we see that 90%people are strong uncertainty avoidance. Spanish people are more tolerant of opinions different from what they are used to; they try to have as few rules as possible, and on the philosophical and religious level they are relativist and allow many currents to flow side by side. Spanish people are more phlegmatic and contemplative, and not expected by their environment to express emotions.

5.2.3. Maslow’s Hierarchy of Needs:

Maslow hierarchy of needs are Five and they are Physiological needs ,Safety needs ,Belongingness and Love needs ,Esteem needs ,Self-Actualization needs .Our product is cloths and it is physiological needs for human. So we want to fulfill the physiological needs of Spanish people and we think that our Brand Yellow perfectly fulfill this needs.

5.3.Segmentation, Targeting, and Positioning :

We promoting our product in Spain and we segmenting the Spanish market, targeting our consumer and how we promoting our product to consumer and what kinds of promotional tools we can take.

5.3.1.Segmentation:

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We segmented Spanish consumer and we are going to Demographic segmentation on Spanish people. In demographic segmentation, there are included income level of Spanish people, age and elite.

Firstly we discuss about the income level of Spanish people. In Spain total population are more than 40 million people, most of them living in the cities or along the Costa's. the per capita income level is $34600.So Spanish economics is high income economics. Our product range in Bangladesh: Mens Formal Shirts starting from TK 799 to 999 tk, Ultra Formal TK1199 to 1299 tk, Ultra formal premium TK 1399 to 1499 tk, Mens Casual Shirt from TK 599 to 899 tk, Men's bottoms TK 599 to 899 tk, Men's Denim Pants TK 599 to 899 tk, Ladies Pants/Skirts TK 599 to 899 tk, Ladies Tops TK 299 to 799 tk, Ladies knits TK 249 to 799 tk, Mens Knits TK 249 to 899 tk and Mens neckties TK 499 to 699 tk. Bangladeshi 1 taka=0.01162 Euro and Spanish people use Euro. So our ultra formal premium price is 1499 tk, in Spain the shirt price is 17.41685 Euro. So Spanish people have afford to buy our products because their income level is high and they like quality full product and which we have.

Then we demographically segmented Spanish people by age. In Spain 10 percent population in Spain are teenager and their age between 12 to 19.They are like fashionable products and colorful products and our products are also fashionable and colorful. So we can make teeny segment for our products because teenager like youthful lifestyle and they are like well-known brand and our brand is also well known brand and we focus on youthful life style. We also Focused on younger people who age between 20-40.we have many official formal products and casual product which is need younger people for going in office and go outside home or party.

The living standards of Spanish people are high because their income level is also high and they spends lot of money for their living cost and the living cost of Spain is also high. So we segmented High standard living people for our product because our product quality is high and our price also premium price.

5.3.2.Targeting:

We may have found a target market by using market segmentation. 'ideal' customer is … or who we want it to be. Targeting is the act of evaluating and comparing the identified group and then selecting one or more of them as the prospects the highest potential. Yellow’s product is export quality. So if they can easily operate their business in Spain. They exported different type of products such as all kinds of woven, knit and sweater items for men’s, ladies, girls, boys and infant over different countries. Major apparel export items are t-shirt, trousers, jackets, sweater tops and so on. They don’t produce any traditional dress. It is generally based on western culture. And

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here we are targeting people who age between 20-40.We targeted Spanish consumer and we need to identify current segment size and growth potential. Spain is highly developed country and their life style also very standard. Their market segment also very high. There are also high potential competitions. A local brand may present competition to entering multinational. In Spain, lots of popular local brand are here such as Zara, Resole, Telefonica, BBVA, El Pais, Mapfre, Fortuna etc. Yellow must try more or different promotion or may acquire the local company or form an alliance with it. They like well-known brand and our brand is also well known brand and we focus on youthful life style. We also Focused on younger people who age between 20-40.We have many official formal products and casual product which is need younger people for going in office and go outside home or party.

Next, we need to understand that people purchase products or services for three basic reasons:

To satisfy basic needs.

To solve problems.

To make themselves feel good.

We’ll need to determine which of those categories our products are the solution to, and be prepared to market it accordingly.

Our products may fit more than one category, too. if so, Yellow’s product is comfortable and also premium price.

5.3.3.Positioning:

Since the Spanish people are fashion oriented, being from a region of fashion aware people, Yellow needs to combine style with elegance in their product lines. They can choose for formal wears more, as it is the favorable choice for the people of that region, and since Yellow is related to formals from the beginning of their launch. As people oppose more to a change or something new, it will be risky for Yellow to project its image as a new brand, either it might fail to attract customers completely, or it might take a long time to create a positive image about the brand in their market. And also, they need to trust in the quality of the product in its early stage. So the most sensible approach to this is to form an alliance with a local company, who are not very famous, but have just enough good images on the consumers mind for approach them, and for the customers to trust in the quality of the product.

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We have to set a price so that a good image is being projected through it but at the same time it is not being too expensive. It has to be slightly less then what the most popular brands charge. Psychological pricing can help a lot in creating a good image of the brand in terms of price, and at the same time use advantage of their emotional pricing.

We can influence customers to play a major role in competitive intelligence while providing them with a chance to influence prices. Yellow can commit to lowering its prices within 24 hours if a customer identifies a lower price at the same quality product at a competitor’s store.

It has to have a ready-to-sell approach to product presentation, and with this will offer this advantage:

By showcasing products in display units or in their original boxes rather than shelves with products one by one, stores can save significantly on time and labor, resulting in lower costs for Yellow.

We can also introduce for Yellow, different other product lines for variety of choice for the customers. For example, we can introduce other casual wear sections for a smaller but significant segment, whose good word of mouth will be very helpful to spread a positive brand image of Yellow amongst the Spanish customers.

Yellow can also group their experiences and expertise and organize the latest tools for developing loyalty programs that reveal local challenges and limitations and the maturity of the market. Having a loyalty card, their markets can record an increase in both the average customer purchase and the number of customer visits.

5.4. Legal environment, political environment and economic environment:

We promoting our brand in Spain so we must know about the business law such as applicable legislation, forms of business enterprise ,liability of shareholders and partners, basic characteristics of an S.A.( Sociedad Anónima),governing bodies of an S.A. ,incorporation of limited liability companies ,sole shareholder companies and branches law. Sociedad Anónima means corporation. We also know about economical environment of Spain. Example :the local currency of Spain is peseta and the official currency is Euro. So if we use their local currency, this time we face problem so we should use official currency. We know about the political environment of Spain. Example: political parties of Spain are stable so its good for continuing business in Spain.

5.5. Entry Strategy:

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We want to enter in Spanish market in alone and we have local marketer for marketing our products and we have also local distributor for distributing our product in Spain. The marketing decision are take by Spanish marketer because they know the market and other competitors. For influencing Spanish customer for buying our products focus on the Spanish culture in our products. We collect raw materials from Bangladesh and also production activities held in Bangladesh. If we collect raw materials in Spain and our production units also established in Spain these time we are not complete in the Spanish market because this time the cost of product is high. We try to charge low price with High quality products to Spanish consumer.

5.5.1.Swot analysis:

We analysis the external and internal environment of Yellow brand in Spain. In external environment there are include opportunities and threats and in internal environment there are strength and weakness. Firstly we describe about the external environment of Yellow:

Opportunities:

Competitors price are more than our price.

Spanish government are fair with Bangladeshi garments company.

Threats:

Spanish consumer are more quality sensitive than price sensitive so our low pricing strategy are not properly work in Spain.

Reputation of competitors in Spanish market is strong.

The internal environment of Yellow :

Strength:

Production cost is lower .

Positive image about our Brand name because in Spain yellow means happiness, purity.

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Weakness:

Some kinds of clash between employee and owner of the company.

Not available high quality raw materials.

6.0.Conclusion:

We are promoting our brand Yellow in Spain and Yellow is our local product and it’s the part of Beximco groups. We analyze Spanish market and we prepare a marketing strategy for Spanish market which is totally different from our local marketing strategy because of Spanish culture, rules and regulation of Spain ,competitors of Spain are different and customers choice, needs and demand also different from Bangladeshi people. We promoting our products successfully in Spain if we perfectly understand Spanish people. Spain is so familiar for foreign companies so its helpful for our company. We try to overcome threats and weakness and increase our strengths and properly using opportunities and its helpful for our company for competing in the Spanish market. Segmentation ,targeting and positioning are important for any organization so we should try to carefully segmented our market and targeting our customers and find the way how we reach to the customer with good quality products with in reasonable price.

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7.0. References:

Website:

1. http://library.thinkquest.org/05aug/00726/index_files/Page1187.htm 8:56pm,28/07/2010.

2. http://www.localhistories.org/clothes.html 8:57pm,28/07/2010.

3. http://www.spainbusiness.com/icex/cda/controller/pageGen/ 0,3346,1549487_1561784_1598687_0,00.html 11:42pm,30/07/2010.

4. http://www.google.com/search? hl=en&defl=en&q=define:legal+environment&sa=X&ei=nglTTL26B5ahOKeguZ4O&ved=0CBcQkAE 11:25pm,30/07/2010.

5. http://ezinearticles.com/?The-Importance-Of-Clothes&id=329726 9:26pm,28/07/2010.

6. http://www.allbusiness.com/glossaries/political-environment/4963358-1.html 11:26pm,30/07/2010.

7. http://www.mkeever.com/spain.html 12:01am,31/07/2010.

Books:

1. Global Marketing management(7th edition) by warren j. keegan.

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8.0.Appendix:

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