The name of my company is Bestbuy.com an American multinational consumer Electronics Company. The company involves in sales of software, electronics, cameras, home appliances and repair and installation of computing devices. The American market is saturated with the sales of software from various software companies, on the other hand, India has a great potential considering the market has not been explored, moreover, sales of software will have an impact and will facilitate a quick growth of e-commerce. India is located in the Southern part of Asia. The trade of e-commerce in India will facilitate its growth; moreover, businesses from U.S.A face no restrictions operating in India considering it has an economic trade agreement and frees multiple economic trades with the USA.
In India, most people are learned and the businesses will require the services of e-commerce. Moreover, this type of operation will boost business in the region and the people have access to computers, which they will use in e-commerce operations ( Boateng, 2014). The cultural differences have no effect on the operations of this business. Most people in India prefer payments of goods and services through online means hence this business will enable for fast and convenient means of doing business. Therefore, most purchases will be done online saving the business the cost of opening numerous stores in India. Online means of payment is a safe way for my company to receive payment for its services, which will mainly be the American dollar. Moreover, the country has a high population, which makes it hard to open physical stores in the region hence operating online stores makes it easy to save on costs. Furthermore, the political environment encourages safe trading means, which reduces traffic jam in the country. The government also encourages other means of communication network making it easier to access online services.
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India is among the countries with high purchasing power in the world and among the countries with the top nominal gross product. The sector of farming in the country is high hence; this type of business will make it easy for the business to develop. The rules and the inconsistent industrial policies, which change from time to time, present a barrier of entry into the market ( Kahiya, & Dean, 2015). The foreign investment regulations are not favourable considering the procedure to follow during the acquisition of license is long. The expansion of e-commerce business in the country has great potential considering a 7% annual increment growth rate of the economy. The employed population, which mainly consists of farmers and manufacturing employees, will embrace online shopping to avoid direct shopping hence the purchase of computers and other related software will high.
Targeting the retail shops and other distributors will be the marketing strategy thereby encouraging them to adopt the e-commerce software, which will facilitate an online transaction between them and the customers who have no time for direct shopping. Pricing of the products will be set close to those already in the market since high prices will scare away customers and low prices will also make them think the products and services are of low quality. The prices of the software will be close to those already available in the market while billboards and through online platforms will offer the main types of advertisements.
The company may also collaborate with local companies in India as a marketing strategy of entry of a new firm into the market. The best way for the business to track its electronic goods before reaching the customers is through using Electronic cargo monitoring system as they are transported to India through shipment from the production zone in the USA. The Export-Import Bank of the United States will ensure the safety and insurance of the goods while in transit. This bank will offer the required transport and credit insurance. The schedule B code that will facilitate transportation of the electronic products including software is 8523492010 .
References
Boateng, R. (2014). Resources, Electronic-Commerce Capabilities, and Electronic-Commerce Benefits: Conceptualizing the Links. Information Technology For Development, 22(2), 242-264. doi: 10.1080/02681102.2014.939606
Kahiya, E., & Dean, D. (2015). Export Stages and Export Barriers: Revisiting Traditional Export Development. Thunderbird International Business Review, 58(1), 75-89. doi: 10.1002/tie.21741
