Nigeria, Competitive Product Analysis

BUS4016, Unit 6 Assignment 1, Project – Nigeria, Competitive Product Analysis[u06a1] Unit 6 Assignment 1 Project – Competitive Product Analysis for Nigeria Resources Project – Competitive Product Analysis Scoring Guide (see attached). (Use the internet for the answers, not the book). Determine the attractiveness of expanding your selected product market to the country you have chosen by identifying companies that may already be doing business there. Identify 2–3 competitors and describe the present situation of each. Compare the companies’ offerings to your company’s offerings. Based on your evaluation, answer the following questions: What is the currency of the country you have chosen for your project? What are the currency risks of establishing a business presence there? Is there evidence to suggest that competitors have been successful? Can you establish the sales potential? What price might consumers pay? Is the market saturated with competitors? Would your company be the first in the region? Are there barriers to entry given what you have learned about the country and the competition that does business in that country? Summarize your assessment of the situation at this point. Determine whether you still think it is feasible to launch your product in this country. Use the following guidelines when writing your essay: Length: 250 words. Writing: For full credit, your essay must be free of grammatical and spelling errors, demonstrating strong written communication.

the project subject is Nigeria. Please see attached papers for Nigeria. You are to know go ahead a create a competitive Product Analysis for Nigeria Resources using the internet or book mentioned. (see instructions).

Do the following for Nigeria:

Determine the attractiveness of expanding your selected product market to the country you have chosen by identifying companies that may already be doing business there.

Identify 2–3 competitors and describe the present situation of each.

Compare the companies’ offerings to your company’s offerings.

Based on your evaluation, answer the following questions: What is the currency of the country you have chosen for your project?

What are the currency risks of establishing a business presence there?

Is there evidence to suggest that competitors have been successful?

Can you establish the sales potential? What price might consumers pay?

Is the market saturated with competitors? Would your company be the first in the region?

Are there barriers to entry given what you have learned about the country and the competition that does business in that country?

Summarize your assessment of the situation at this
point

Competitive product analysis is a strategic practice that precedes market invasion. A well-executed competitive product analysis yields the best product and industry performance information. Nigeria’s Bottled Water industry poses some opportunities for entrant entities. Nigeria has one of the largest population in Africa. Economically, the country enjoys income from natural resources, particularly oil. Nigeria has well-developed infrastructure and a friendly business climate for business ventures. The three top competitors in the industry include Nestle Waters, Coca-Cola Company and Nongfu Spring Ltd.  

A business presence in Nigeria is daunted by the country’s currency risk. Nigerian’s oil industry accounts for 70% of its budget and approximately 90% of Nigeria’s export (Coppola, 2017). Since 2014, the oil industry has not been performing well, hence mounting pressure on the country’s Naira. The value of the Naira in 2017 dropped by 50% (Edu, Sijuwad, & Durosinmi-Etti, 2016) Establishing a business venture in Nigeria is prone to currency risk, considering that currency performance and the oil sector are not yet contained. In 2016, a drop in currency resulted in an increase in the price of water.  Nestle Waters and Coca-Cola Company are international brands…

Order a Similar or Custom Paper from our Writers