Marketing Plan of Mitefear Product

Company Name:

Thai Herb Tech Limited

Company Background:

Existing Production and Product Lines:

Currently, the company holds two products which are:

1. Mite Fear

2. Clovacin

Product:

Mite Fear

Product Description:

Thai Herb Anti-Mite Spray

Existing Market:

Thailand

How well the product performs in Thailand?

New Market: Australia

Why?

http://www.dfat.gov.au/publications/trade/trade_at_a_glance_2010.html

In 2010, Australia’s Minister for Trade, The Hon Dr Craig Emerson MP, said that “Australia is a trading nation and our trading relationships have been a major contributor to the prosperity Australians enjoy” (www.dfat.gov.au). He also mentioned that imports are vital to open economic activities and it give consumers wide range of affordable with good quality products as well as helping the Australians companies to be able to develop products efficiently.

Thailand-Australia Free Trade Agreement (TAFTA)

http://www.dfat.gov.au/fta/tafta/

Thailand and Australia has agreed on Free Trade Agreement and was effective from 1st January 2005. The main negotiation was on the trades of goods, particularly on the elimination of import and export tariffs for both countries.

Another benefit from TAFTA is that Australia has opened its borders for Thai investors wanting to invest in Australia of more than AU$10 Million. Therefore, Thai Herb Tech Limited will be looking for benefits that the company will get from TAFTA in exporting Mite Fear to Australia.

Target Market

According to Australian Bureau of Statistics, as of 30 June 2010, Australia’s population has reached 22,342,000 and the growth rate is still expected to slightly increase in 2011. (http://www.abs.gov.au/Ausstats/abs@.nsf/mf/3201.0)

However, the initial target market for Mite Fear will be in New South Wales area, particularly Sydney, the largest city in Australia.

Target Market Profile:

Population Group: Working Aged Population (Aged 15-64 Years)...