Tuesday, February 25, 2020

Export marketing (US market) opportunity for UK based energy drink Assignment

Export marketing (US market) opportunity for UK based energy drink - Assignment Example This has resulted in the evolution of a new pattern of consumer behaviour from consumers of various new and emerging economies. It needs to be mentioned that in order to meet the growing amount of diverse needs of the customers, the setting up of global trade processes is very essential. It is of utmost importance that global trade is highly necessary as it helps in satisfying the needs of the customer while generating strategic benefits for the firms (Seyoum, 2000, p. 7) Discussing in details about the requirements of this project, it has to be brought into notice that the current focus is to develop an intensive evaluation for the opportunity related to exporting for a particular product. For this assignment, the product that is being selected is the UK based product Lucozade. While introducing the product Lucozade, it has to be mentioned that it is an energy drink, which promises to meet the varying calorie requirements of athletes, sports professional as well as fitness conscious individuals. The project focuses on identifying the opportunity related to attaining business growth by entering a new overseas market like the United States. So, the main motive of the project is to identify the export opportunity of Lucozade from the UK to the US. Justifying the choice of country It is important to mention that while selecting a market for exporting of products, the focus is on identifying the various prospects associated with it (Zou & et.al, 2009, p. 32). In the times of increased economic uncertainty as well as various other macroeconomic challenges in various corners of the world, it is highly interesting to mention that the market demand for energy drink products is growing various developed as well as developing markets. As of the recent times, the energy drinks is considered as a growing sub category of soft drinks in various global markets because of the increased focus of masses around the world to lead a healthy and fit life. It has been estimated that the global health drinks market is estimated to attain a growth rate of around 35% by the year 2016 (Russell, 2012). As per market based region specific forecasts, it has also been found that the markets of Asia, North America and West Europe are expected to grow the most (Business Wire, 2013). As per an OECD sponsored report dated in the year 2012, it has been found that the United States leads the world in regards to mass obesity (Obesity Update 2012, 2012, p. 2). Source: Obesity Update 2012, 2012, p. 2 It also has to be said that in the United States, the obesity has grown in the range of 4 to 5% on an annual basis (Huffington Post, 2012). Source: Chou & Kane, 2012 Data backed statistics also indicate that around 68% of the US population are possibly overweight or obese (Chou & Kane, 2012). However, it is of increased importance to highlight the fact that due to an increase in obesity numbers, there has been a growing consciousness amongst the masses around the world to stay fit and in shape (Johnson, 2012). Talking on this note, the fact of increased consciousness in regards to obesity in the US market also has to be taken into consideration. Records of previous sales reveal that the sales of the energy drinks are

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