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. 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. 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. 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
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. 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. 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. 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. Top Business Areas S Cell phone industry. S Tourism. S
Garment. S Beauty products. S Real-Estate. S Franchising. S Online
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. *
12. Franchising S Franchising is a growing industry in
Bangladesh. S There are no rules or regulations that restricts this
business from forming.
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.