This report introduces the background information necessary to understand the product and the UK country. It also presents the economic and financial environment analysis that would influence the market entry in UK country. It also discusses the political and legal environment of UK. Furthermore, it demonstrates the social and cultural environment of the UK nation. This report explains the technological and environmental analysis. It also defines conclusion and recommendations for moving forward on the export opportunities or threats.
Tasmanian Mountain Waters ® Natural Spring Water is a stable source of natural magnesium, calcium, phosphorous and other essential minerals with the best alternative pH 7.6-7.8 levels. Spring water of this company exists in 5 liters and 10-liter casks. Furthermore, these ‘bag-in-box’ would be feasible to store for a longer period and have a 5-year shelf life. It is also suitable for bench-top dispensing while practiced in the kitchen. The 5 and 10-liter cask is ‘bag-in-box’ goods that could be suitable for long-term storage of water. The water could be filtered via two phases of microfiltration practicing defines the microfiltration technology and then sterilized via ozone sterilization techniques. It is then filled into sanitary metalized polyester cover bags in clean room condition as well as boxed for consignment. The resulting product is clean, mineral water, natural and pure (Tasmanian Mountain Waters ® Natural Spring Water, 2018).
The bottled water production industry has focused on the nationwide trend of gaining health consciousness due to healthy hydration habits of consumers. This may lead the Tasmanian Mountain Waters to penetrate into the UK as the demand for bottled water is high. By using the extensive marking campaigns, an operator can effectively broadcast the health advantageous of bottled water and convincing shopper for paying the industry products as compared to settle for tap water. Industry revenue is predicted to gain at a compound annual rate of 6.9% over the five years through 2017-18 in order to arrive at £1.1 billion. In the year of 2017-18, revenue is projected to rise by 4.5% (Plastics News Europe, 2017).
The up and down fluctuating economy is one of the key factors that enable a company to become a successful or big failure. The economy is well-built and well-organized due to highly development in bottled water industry. But, as per the current recessionary trend, there is complexity for Tasmanian Mountain Waters ® Natural Spring Water to survive as it is not cashed rich together with does not have the necessary appeal. There is a high requirement of finest quality bottled water rather than necessity requirements. Along with this, unfavorable growth, as well as falling GDP of the UK nation, can radically impact on the growth of Tasmanian Mountain Waters ® Natural Spring Water (Corbin, 2018).
One of key advantageous that that would influence the market entry into the UK is the lower rate of interest rate. Therefore, Tasmanian Mountain Waters can borrow money to invest in new technology as well as products. As, the expenses of making investment would be less hence, Tasmanian Mountain Waters would be competent to launch Natural Spring Water in the market with low expenses. It would be beneficial for customers to spend money on purchasing the bottled water because the expenses would be less with the high quality of bottled water. There are certain benefits that could be attained by Tasmanian Mountain Waters in terms of entering into UK nation (Singh, et. al., 2015).
The current recessionary trend demonstrated serious issues for Tasmanian Mountain Waters but improvement in the economy can be predicted by the predicators. This is a key issue in the market that creates complexity to attain the objectives. This is predicted that customers will focus on the standard expenditure habits by consumption at a restaurant, visiting high streets, and car shopping. There are some people who cautious with respect to invest money, however, due to lower inflation rate; the self-assurance of consumption will increase at the normal level. Therefore, efforts of the company should be borrowed now to invest in research and development together with; it invests in promotions of the products in the rising market (Kang, et. al., 2015).
(Sources: Borisade, Medina & Magan, 2016).
It is assessed that there are about 7.7 billion of bottled waters are consumed in UK at each year. Furthermore, bottled water industry is significantly over £2.4bn at per year. Under 2017, about 19% of population consumed bottled water in daily routine in UK. This factor can provide the opportunity to Tasmanian Mountain Waters to launch Natural Spring Water into UK market. It is assessed that there are over 90% of brands related to bottled water included microplastic flaw. It is also found that in the UK, people consume over 50L of bottled water in each per year. This could be advantageous for Tasmanian Mountain Waters to increase the revenue of Natural Spring Water (Covaci, et. al., 2018).
(Sources: Garner, Cairns, & Read, 2015).
The above chart shows that 76% of residents consumed bottled water in the UK. Furthermore, transportation and production of demand with respect to bottled water practices is higher. This statistics shows the favorable aspect for Tasmanian Mountain Waters to launch the Natural Spring Water into UK market (O’neill, Phillips, Bowen, & Gupta, 2015).
The government of land plays a vital role in the function of producing bottled water with respect to regulations. Furthermore, prospect fines could be developed by authority for producers while they would be unable to attain the predetermined regulation. There are certain political factors that may cause the positive outcome of Tasmanian Mountain Waters. These outcomes differ substantially from the expected objectives in their yearly statement (Asemota, Odutayo, Oyewole, & Abubakar, 2016).
Due to the mercurial character of non-alcoholic atmosphere, authority provides advantage to new rivalry in market. There are certain factors that aid to gain the market share such as the pressure of price, new competitive product, strategy, and competencies of rivalry in the international with local markets. These competitive efforts may persuade the mind of the customer towards Tasmanian Mountain Waters. It may also change the business environment frequently.
The modification in regulations and rules implemented by the government in different functions may affect the way that a business would deal (Tharnpanich, et. al., 2016). For instance, alteration in taxation requirements such as tax rate, a revised interpretation of tax laws and new tax laws, new or modified environmental laws as well as transformation in accounting standard may affect Tasmanian Mountain Waters to launch Natural Spring Water into UK market (Alemu, Mulugeta, & Tadese, 2017). The competency edge of Current Corporation and new entrants relied on the political situation of a business atmosphere. UK government aids in the foreign investment by forge strategic alliance. This can support in the success of Tasmanian Mountain Waters to enter into the market of UK (Schreier, & Lavkulich, 2015).
There have been current modifications in the regulation that entails the extent of chemicals existed in bottled water. Moreover, the effect of this regulation could be advanced as non-compliant company would lead to close shop. The time limit of conformity is 3 years by Europeans nations and the corporations would be necessary to take their products off the shelf when they are not capable for complying with the norms (Asante, Agbeko, Addae, & Quainoo, 2014).
As per the water industry act (1991), Europeans Drinking Water instruction and laws regulated by drinking water in UK nation are mandatory for company. These rules are relied on the advice assessed by World Health Organization (WHO). In current times, regulation (2010) is made to govern the bottled water in the UK. These regulations focus on Spring Water, Natural Mineral Water, and Bottled Drinking Water (Truman, 2018). Spring water should start off through single non-polluted alternative source and be bottled within source of UK nation. It should also obey the standard as per drinking water regulation and might only be dealt into the particular limits to decline particular minerals as well as attains microbiological principle. In addition, natural mineral water should be based on protected and identified sources and should be constant in work of art. Company should focus on naturally healthy product and should be quality-controlled in terms of bottling. Moreover, natural mineral water should be recognized by the local rights and registered at the Food Standards Agency (FSA) (Soutoudehnia Korrani, et. al., 2016).
In current times, an individual wants to stay healthy. Moreover, the destructive impact of alcoholic drink is not concealed from anyone. There is a high amount of an individual who can switch their standard of living to permit them for remaining healthy. This alteration of thought procedure has contributed towards higher selling on diet colas as well as bottled water. The market share for non-alcoholic drinks is gained at expenses of alcoholic drinks. There is a high requirement of bottled water and healthy products in current times. It is also evaluated that everyday health capsules via advice on respected medical experts aligned with alcoholic drinks as well as supports people to move towards less sugar as well as bottled water in their diet for staying healthy (Alomirah, et. al., 2016).
The age group of the customer in 37 to 55 is extremely responsive regarding their eating habits. The concern for durability in Tasmanian Mountain Waters is high as it may create complexity to penetrate into the UK. This factor may also unfavorable impact on demand for bottled water as well as healthy drinks in targeted time to approach (Shamaki, Sandabe, Abdulrahaman, Ogbe, & Hassan, 2017).
Moreover, the culture of society and the way of performing things may affect the culture of the company in an environment. Along with this, the attitudes, and shared belief of population plays a high role in how marketers at Tasmanian Mountain Waters will comprehend the consumers of a specified market and how they outline the marketing message for Water Utilities industry consumers (Gorga, Insa, Petrovic, & Barceló, 2015).
A marketing manager can make right integration of marketing, advertising and promotional initiatives in Tasmanian Mountain Waters. Since, the relationship of these three initiatives may result in well-organized promotion of products. Furthermore, television and internet are innovative promotional mode that is stated as a consequence of advanced technology. Furthermore, these modes would be beneficial for adopting new technology within an organization. It could be high attainment as compared with the mass marketing. Furthermore, unique effects feasible via these modes and it makes attractive to the product (Baatar, Chuluun, Tang, Bayanjargal, & Oyuntsetseg, 2017).
There are certain technological advances in the packaging field such as plastic bottles together with, could be suitable for customers to purchase the products. It makes it easier to perform at the workplace. The computerization technology in field of manufacturing bottled water is gained the output for bottling plant. The art technology is implemented by bottling firm that result in the same extent of quality as well as less dependence on the manpower in operations that shows the significant use of resources. The manpower could be utilized in different functions as compared with manual bottling (Asante, Agbeko, Addae, & Quainoo, 2014).
The concern for the atmosphere is expanding and different nations across the world have developed fines for following atmosphere un-friendly production activities. The bottling corporation would require reviewing the packaging as well as the manufacturing process by building new technologies in these sectors. This would be beneficial for Tasmanian Mountain Waters to launch the Natural Spring Water into the UK market (Alemu, Mulugeta, & Tadese, 2017).
Conclusion and recommendations for moving forward on the export opportunities or threats
From the above discussion, it can be concluded that the economic and financial environment is favorable for Tasmanian Mountain Waters to launch the Natural Spring Water into the UK market. It can be also summarized that political and legal environment is unfavorable for Tasmanian Mountain Waters as there are different restricted policies made by the government for bottled water. It can be also concluded that the socio-cultural environment is favorable for Tasmanian Mountain Waters as most of UK people are health-conscious and wants the healthy drinks. It can be evaluated that technological and environment is favorable as people highly use the internet in UK nation. Thus, Tasmanian Mountain Water can penetrate into UK nation with the product of Natural Spring Water.
It can be recommended that the company should use situation analysis to expand their business into the UK market. After developing the goal, planning team understands what to do such as from where data would be gathered as it will aid in good decision making. The situation assessment entails a review of data from internal sources of an organization like sales, customers, and employees. Together with, it focuses on external sources of data collection such as industry, competitors, and climate of economic. This strategy could be beneficial for moving forward on the export opportunities (Asante, Agbeko, Addae, & Quainoo, 2014).
It can be also suggested that exporting goods from home nation to another could be effective for expanding the business into UK nation. Exporting will permit Tasmanian Mountain Water to introduce Natural Spring Water into the UK nation with minimal and no direct investment in UK nation. It can find this alternative more challenging unless they attain services over the internet.
It can be also recommended that licensing agreement permits the Tasmanian Mountain Water to sell the Natural Spring Water in their home markets. This is the best option for expanding the business into the UK (Schreier, & Lavkulich, 2015).
It can be also suggested that the company should use research and development strategy to penetrate into UK nation as it would lead to addressing the needs and wants of customers towards bottled water. This would be beneficial for increasing the revenue of the company. It can be also suggested that Tasmanian Mountain Water should address the strategy of competitors as it would lead to making innovation in product and aids to pull the attention of bulk of customers (Truman, 2018).
References:
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