Workforce characteristics Essay
Since the demographics is changing and most of the population is falling in the age bracket of 25 to 45 years old and also because the awareness of importance of education is increasing, there is enough educated manpower and talent for the company to hire from the unemployed youth. Relevant trade and investment policies and laws Trade and investment related laws and policies are very favorable in Pakistan. The government of Pakistan is giving special incentives to all the companies in all the industries to come and invest in Pakistan.
Moreover, the infrastructure and investment policies are favorable so that the companies are attracted and earn a higher return on investment. Politics and laws that may affect entry The only things that may hinder the entry are unpredictable political and law and order situation prevailing in the country. Due to conflicts between the government and the judiciary and the media, entry of the company may be affected. Another factor that might affect the entry is the religious sector that might find flaws with the haram ingredients and or with anything unethical related to the company.
Currency and financial market issues The currency has been on a constant depreciation which might make the
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Therefore, there is lot of potential in the market for the upcoming entrants to exploit in the confectionary industry. Moreover, since the per capita income is increasing the economy is becoming better; there is a lot of potential in the market to exploit. Also the consumers are becoming brand and quality conscious and the affluent class nowadays wants the imported items. Hence Tootsie Roll can benefit a lot if it expands its operations in Pakistani region. TARGET MARKET ANALYSIS Description of customers and characteristics The demographics show that the population mostly falls in the age 25-45 yrs.
Also, there are more children who are spoiled by their parents these days who prefer to provide for their children. Mostly both the parents are working these days so they tend to neglect their children and spend lesser time with them. Hence, they make it up by buying their children sweets of all kinds. Moreover, snacks and sweets are popular with the teens and students who prefer sweet stuff to provide them with instant energy. Also, the consumers want good quality chocolate that is affordable as well and is not as expensive as the other imported chocolates.
Hence, Tootsie can grab the market quickly if it keeps its costs and hence prices comparable with the local confectioners such as Hilal and Candyland. Estimation of market size The market size of the confectionery industry comprises of the affluent and the upper middle class who can afford the imported chocolate, candy and sweets. However, if Tootsie can try to keep its prices low, the market size can also accommodate the lower middle class which also wants good quality sweets at lower prices. Local competition analysis The structure of the local confectionery industry in Pakistan is a little fragmented.
The local industry comprises of some companies that are foreign such as Nestle and Cadbury which are manufacturing some of the brands in Pakistan. Other local companies such as Candyland, Hilal and B. P. are the well-known local companies in Pakistan. Overall the industry is lead by the two major competitors Nestle and Cadbury who closely compete with each other. Besides these, Candyland leads the local companies in the industry and has given importance to quality in its products. The products very from sweets, toffees, caramel chews, chocolate bars of all kinds to marshmallows.
If Tootsie Roll Industries sets up its manufacturing operations in Pakistan, its cost effective production operations and diversified brands will provide the consumers with something new and different and of good quality at a lower price. Moreover, in my opinion, they will be more receptive to the comics, ‘How many licks? ’ contest and other ‘value added services hat help in the marketing of the products. Also, the brands that cater to the social gatherings and occasions will help in the marketing and creating advocates for the company.