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Grieve Case- Export Plan

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Intern. Mkt 4410 Export Plan

Grieve case- Export Plan

1) Product: Laboratory and Industrial ovens and furnaces
Tariff Number: 8417.80.00

2) Target Market: Singapore

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Singapore is located in Southeast Asia in between Malaysia and Indonesia. With a population of about 5.3 million, the people of Singapore are divided ethnically but mostly, about 75%, are Chinese. The next two ethnic groups are Malaysian and Indian. Mandarin and English are the two prime languages spoken in Singapore. The economy they have adopted is the free market economy, they have an open and corruption free environment, and have a GDP that ranks 7th in the world at approximately $62,000. With their stable prices and high levels of exports, Singapore is on its way to be one of the most established countries in Southeast Asia.

3) Market Entry Requirement:
The Singapore market is easier to enter for Grieve because of the Free Trade Agreement that Singapore and the U.S. created in 2004. This agreement has been mutually beneficial for both countries, increasing their trade by 54% and making the U.S. the 3rd largest supplier of goods to Singapore. The agreement states that there are zero tariffs between the two, and there can not be an increase of any duties on U.S. products. Due to the open relationship, Grieve should be able to jump into the equation and utilize the free trade laws that in place to his advantage. It is the ideal location for market penetration due to this, and to build relationships with other Asian countries. With Singapore's economy being stable and conduct their business in a style similar to that of the one in the U.S. there should be less worries about corruption or deals not going through properly.

4) Export Penetration Strategy:
According to Calabrese, he pointed out how much he learned from his travels throughout

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