Global Marketing Greece

Product:

Underfuse-Performance Pocket is a high performance pocket that is made to be attached to workout apparel so you can hold your cell phones, iPods, keys, and other items in the pocket while you're working out without them bouncing around. Underfuse is uniquely designed to be ironed on to workout clothing and is intended to be as durable as the items you are attaching it to. To adhere the pocket, simply ironing it on using a household iron and the special adhesive that is built into the pocket fuses the pocket to any piece of clothing any place you want it. The pocket has a dimension of 2.7 inches wide and 4.7 inches tall and is designed to fit most smartphones and MP3 players.

You can purchase Underfuse in three different assortments. A pack of one which is sold for $9.99 plus S&H, a three pack for $24.99 plus S&H, or a 10 pack for $69.99 plus S&H. Each pack of Underfuse Performance Pocket comes with branded packaging and directions on how to apply the Underfuse to your clothing. Given the nature of the product there is a no return policy on the Underfuse Pocket.

Place: distribution channels, middlemen, and logistics

The main distribution method for Underfuse is the Internet. The Underfuse Pocket can be purchased from at least three distributers. The Underfuse official website at http://www.underfuse.com in packs of 1, 3, and 10, single packs are also sold at http://www.smarthome.com, and Amazon.com. Orders placed form the Underfuse website you should arrive in seven to ten business days.

Geography, weather, natural resources

Thanks to the global reach of the Internet the Underfuse Performance Pocket is available to consumers around the world. One consumer market for Underfuse is Greece. Greece is located in southern Europe between Albania and Turkey and is about the size of the state of Alabama. Greece has a population of approximately 10,668,354 residents with a median age of 40.5 years. As of 2005, the current population growth rate is .19%. The terrain is made of mostly mountains chains that extend to the seas that border the country and making island and peninsulas the highest point is 2,917m above sea level. The climate is very temperate with mild wet winters and hot and dry summers. Greece has a number of natural resource like lignite, petroleum, iron ore, bauxite, lead, zinc, nickel, magnesite, marble, and salt (about).

Channels of distribution

The distribution channels in Greece are very traditional with retail outlets currently dominating the sales market. The major retail sales come primarily from grocery stores due to the economic recession in Greece. Some experts predict that E-commerce in will become stronger due to because "Consumers will appreciate the price levels and convenience of internet retailing, as well as the low cost that comes from shopping from home. (euromonitor.com)" As of 2010, approximately 46.2 % of Greece population use the internet.

Promotion:

There are different communication mediums to choose from when communicating with a population. In Greece, the main way to communicate with the largest part of the population is through television. Research shows that an estimated 78% of the population in Greece turns to the television to receive information, the press with 41%, Internet with 35% and the radio with 32% (news.bbc.co.uk). An effective way for a company like Underfuse to communicate with the Greek people is through television commercial advertisement. Publishing an ad in the local newspaper would be an effective way to communicate with the Greeks. Due to high Internet usage, advertising online by using social media could also be an effective way to communicate.

The population in Greece was 11 million in 2010. The majority of the population is composed of people aged 15-64 years old. This age group is 66.6 percent of the population. The major spoken language is Greek. The amount of people that speak Greek is 96 percent of the population (export.gov). Majority of the Greek population is located in urban areas. About 61 percent of the population lives in urban areas (fsmitha.com).

Price:

The textile and clothing industry in Greece is suffering. The current economic condition is to blame for the downturn of this industry (just-instyle.com). Vassilis Masselos, who is the managing director for a large underwear manufacturing firm and the president of the international apparel Federation, explains that "with more than one million unemployed, slashed wages and pensions and unprecedented taxation, Greeks today have very little disposable income for clothing" (just-instyle.com). Production has dropped 25.8% in clothing and by 21% in textiles. The decrease was measured from the beginning of January 2011 to November 2011. During the same time period sales in clothing and textile dropped across Greece. The reduction in sales is 23.6 % in clothing 17.6% in textiles (just-instyle.com). The price for one Underfuse pocket is $9.99, the price for a pack of three is $24.99 and a pack of 10 costs $69.99 (underfuse.com).

The firm Underfuse should consider a country's Foreign Direct Investment (FDI). The definition of FDI is "An internationalization strategy in which the firm establishes a physical presence abroad through acquisition of productive assets such as capital, technology, labor, land, plant, and equipment" (Cavusgil, kindle location 1260). FDI is a strong indicator for a firm, such as Underfuse, in determining if internationalization into a country such as Greece is a good strategy. The graph shows the amount of foreign investment capital by different countries (in millions Euros). The amount of foreign investment by the United States is one of the lowest with 1,482.9 million Euros (investingreece.gov).

Exporting/Logistics

Underfuse can make the decision on which type of exportation it can do. There are two types of exportation, which could benefit this firm. The two types are direct and indirect exportation (export.gov). In direct exporting the firm has complete control over the exportation to the buyer in Greece. The firm can see all the costs associated with the exporting process and make cost effective decisions on exportation efficiency. This process requires a close attention to detail and could be more costly. Indirect Exporting is the process of a firm like Underfuse relying on another firm to export their products for them (export.gov). A confirming house is a foreign firm that buy's Underfuse products at the lowest rate and sells them in their country. Underfuse could indirectly