International marketing report For entry into new overseas markets
The following report will focus on recommending new overseas market avenue for Freshtel Holdings Limited. The VOIP technology has recently opened new frontiers in the field of telecommunication and high volume data transmission.
With the developed expertise in this sector, Freshtel has immense potential that can be tapped through large consumer base such as that present in Asia. Freshtel has served the broader interests of the economy of Australia by supporting, maintaining and expanding its hi-tech services. Foray of Freshtel into United Kingdom has generated foreign income, tax revenues and employment.We have realized our goal of expanding into European market with more people, better retention and capital utilization. Our strong financial position helps to now lead the way by introducing VOIP technology in consumer centric country like India. We will try to highlight on potential strategic partners to develop implement and measure the market base.
Freshtel can also leverage its cutting edge logistical support for International targets, resulting in overall financial returns. The key to enter Indian market would be our commitment towards: • Defining goals for the new venture • Selecting marketing and promotional strategies• Setting up efficient overseas administration • Building realistic distribution model Background Recent research on Information Technology and Telecommunication sector has predicted huge growth in India. “India‘s mobile phone subscriber base is growing at a rate of 82. 2%.
” (RCNOS, 2006) Market Research has further indicated that the Internet Access Market in India is all set to grow twice the existing value what with the increase in de-regularization, literacy level, increasing consumer awareness and penetration of personal computers. (RCNOS, 2006) India has a lot to offer as a destination for investment by the VOIP Telephony sector.Liberalization infused much needed energy in this country’s economy, that the momentum has become almost surprising. Reforms have opened doors for the foreign direct investment and the outlook keeps improving every year.
(See Chart; Source: Commerce Ministry India) Through current economic policies, India has deregulated and liberalized all markets. Secondly, the Indian government has shown its resolve to increase competitiveness in all spheres of economic activity. Though the positive economic outlook and stability of Indian market are just a few broad positives, we must focus on specific determinants as well.
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