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BangladeshTaf Khan

History & Geography

Formerly knows as East Pakistan, Bangladesh gained its freedom in 1971 after the war with Pakistan.

Located in Southern Asia, bordering the Bay of Bengal, India, and Burma.

Tropical climate with mild winter, hot and humid summer, and warm rainy monsoon.

The Flag

The green represents the grass lands and is the official color of Islam.

Red stands for the rising sun and the blood shed by the nation to gain independence from Pakistan.

Culture&

Facts Ethnic groups:

* 98% of the population is Bengali.

* 2% are tribal groups living in south east of the country.

Religion * Muslim: 89.5% * Hindu: 9.6% *Other religions: 0.9% (Christianity, Buddhism, & Shamanism)

Official language is Bengali; English is the second spoken language.

Culture & Factscontinued…

Weekends are Fridays and Saturdays along with major holidays of all religions in the country.

It’s a hierarchical society.

People are given respect based on their age and position.

Elders are given more respect and looked up as the wise ones.

The oldest male in the group is required to make the decision in business and family matters.

Most families are extended families living under the same roof.

Business Meetings & Etiquette

Greetings mostly takes place between the same sex.

Handshake is the common greeting accepted in business meetings, taking place upon arriving and leaving meetings.

Businesswomen may or may not shake hand with the opposite sex; Wait for her to bring her hand forward first.

It’s usual for events, business or private, to start an hour or two late.

Never lose temper during an argument in meetings, it is considered rude and unprofessional.

Business Meetings & Etiquette

continued… Businessmen are dressed in suit

and tie.

Businesswomen dressed in their traditional outfit, the sari. When meeting with higher foreign clients they may wear a business suit that covers their legs and sleeves covering their elbows.

Educational background is most valued.

Business cards are given either before or after each meeting and majority of them are written in English.

Business & Economy Facts

About 5% of the population is unemployed.

Many workers in the labor force work only work few hours a week with low wages.

Currency is known as Taka; $1 USD= 81 Tk.

The GDP as of 2012 is $115.6 billion.

Imports: $34.56 billion U.S. dollars; Exports: $26.25 billion U.S. dollars.

Major Exports: Garments, Knitwear, Leather, Frozen foods, Agricultural products.

Major Imports: Textiles, Petroleum products, Cement, Machinery equipment, chemicals, iron and steel .

Rulesof Marketing in Bangladesh

Adding jingles and mini dance sequence attracts consumers.

Many TV ads are shot outside the country in places such as Athens, Paris, Sydney etc.

During major holidays offering something free with the product is always useful and increases sale.

Never insult the government in any form of advertisement.

The use of foul language, tobacco, and alcohol is prohibited.

Never show any display of abuse, harassment, vulgarity in any ads.

Mocking other products and brands in your ad is strictly prohibited.

Top Business Areas

Cell phone industry.

Tourism.

Garment.

Beauty products.

Real-Estate.

Franchising.

Online Shopping.

Tourism

Cox’s Bazar* Known as the longest beach in the world (77.67 miles).* Tourist capital of the country.* Tourist season is usually between November-February.* Activities include: scuba diving, surfing, shopping, island hopping. * http://youtu.be/W2GZrkqksms

Franchising

Franchising is a growing industry in Bangladesh.

There are no rules or regulations that restricts this business from forming.

Consumer Behavior

Brands* High-end international brands are most valued.* Feeling prestigious .

Bargaining and Negotiating.* Bengalis like to bargain on almost any product.

Business lunch or dinner* Giving gifts such as pastries, fruit baskets etc. to your host is appropriate.* Don’t bring liquor as a gift unless you know your host drinks.* It is usual for the host to offer you tea after a meal.