Fathom Technology Essay

3591 Words Dec 9th, 2012 15 Pages
Fathom T

Global Market Analysis
Fathom World Communicator: Phone and Language Translating System
MNS Technologies

International Business
Instructor: Dr. David Strong
Spring 2012 – FTB

Abstract

The purpose of this paper is to summarize the steps of the marketing process involved in the launching of a brand new product in a particular part of the globe. We are focusing in brining a brand new product: the Fathom World Communicator into the market in Mexico City. We will be able to satisfy the customer’s needs and wants by applying our marketing plan and background research that we gathered about the area. After meticulously researching the market we were able to identify a target
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product concepts due to the commercial ties between both countries and the recognition and acceptance of U.S. brands by the Mexican population.

Spanish is the official language of Mexico, having the largest Spanish-speaking population in the world with almost a thirst of all Spanish native speakers. Mexico is also home to a large number of indigenous languages that are spoken by 5.4% of the population. The indigenous languages with most speakers are Nahuatl, spoken by 1.45 million people, Yukatek Maya, spoken by some 750,000 people, and the Mixtex and Zapotec languages, each spoken by more than 400,000 people. In addition to the indigenous languages, other minority languages are spoken by immigrant populations like German, spoken by 80,000 of the Mennonites in Mexico. English is widely used and understood by education people and in urban centers. Mexico’s large and dynamic economy offers business opportunities in virtually any business sector which presents a potential for success for our newly developed product.

Market Entry Strategy

In Mexico, business is done on the basis of relationships. As a U.S. company, we had an opportunity to travel to Mexico frequently to develop and strengthen our relationships in order to do business successfully. Mexican companies tend to be extremely price conscious and appreciate outstanding service, as most consumers do. Time is essential to cultivate trust to enhance a professional

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