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S Bangladesh Taf Khan

International_MKT_BD

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  1. 1. S Bangladesh Taf Khan
  2. 2. History & Geography S Formerly knows as East Pakistan, Bangladesh gained its freedom in 1971 after the war with Pakistan. S Located in Southern Asia, bordering the Bay of Bengal, India, and Burma. S Tropical climate with mild winter, hot and humid summer, and warm rainy monsoon.
  3. 3. The Flag S The green represents the grass lands and is the official color of Islam. S Red stands for the rising sun and the blood shed by the nation to gain independence from Pakistan.
  4. 4. Culture & Facts S Ethnic groups: * 98% of the population is Bengali. * 2% are tribal groups living in south east of the country. S Religion * Muslim: 89.5% * Hindu: 9.6% *Other religions: 0.9% (Christianity, Buddhism, & Shamanism) S Official language is Bengali; English is the second spoken language.
  5. 5. Culture & Facts continued S Weekends are Fridays and Saturdays along with major holidays of all religions in the country. S Its a hierarchical society. S People are given respect based on their age and position. S Elders are given more respect and looked up as the wise ones. S The oldest male in the group is required to make the decision in business and family matters. S Most families are extended families living under the same roof.
  6. 6. Business Meetings & Etiquette S Greetings mostly takes place between the same sex. S Handshake is the common greeting accepted in business meetings, taking place upon arriving and leaving meetings. S Businesswomen may or may not shake hand with the opposite sex; Wait for her to bring her hand forward first. S Its usual for events, business or private, to start an hour or two late. S Never lose temper during an argument in meetings, it is considered rude and unprofessional.
  7. 7. Business Meetings & Etiquette continued S Businessmen are dressed in suit and tie. S 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. S Educational background is most valued. S Business cards are given either before or after each meeting and majority of them are written in English.
  8. 8. Business & Economy Facts S About 5% of the population is unemployed. S Many workers in the labor force work only work few hours a week with low wages. S Currency is known as Taka; $1 USD= 81 Tk. S The GDP as of 2012 is $115.6 billion. S Imports: $34.56 billion U.S. dollars; Exports: $26.25 billion U.S. dollars. S Major Exports: Garments, Knitwear, Leather, Frozen foods, Agricultural products. S Major Imports: Textiles, Petroleum products, Cement, Machinery equipment, chemicals, iron and steel .
  9. 9. Rules of Marketing in Bangladesh S Adding jingles and mini dance sequence attracts consumers. S Many TV ads are shot outside the country in places such as Athens, Paris, Sydney etc. S During major holidays offering something free with the product is always useful and increases sale. S Never insult the government in any form of advertisement. S The use of foul language, tobacco, and alcohol is prohibited. S Never show any display of abuse, harassment, vulgarity in any ads. S Mocking other products and brands in your ad is strictly prohibited.
  10. 10. Top Business Areas S Cell phone industry. S Tourism. S Garment. S Beauty products. S Real-Estate. S Franchising. S Online Shopping.
  11. 11. Tourism S Coxs 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
  12. 12. Franchising S Franchising is a growing industry in Bangladesh. S There are no rules or regulations that restricts this business from forming.
  13. 13. Consumer Behavior S Brands * High-end international brands are most valued. * Feeling prestigious . S Bargaining and Negotiating .* Bengalis like to bargain on almost any product. S Business lunch or dinner * Giving gifts such as pastries, fruit baskets etc. to your host is appropriate. * Dont bring liquor as a gift unless you know your host drinks. * It is usual for the host to offer you tea after a meal.