Bangladesh Ready-Made Garments Sector – International Marketing
ContentsAbstract 2Introduction: 3Industry Analysis of RMG in Bangladesh: 4Markets of Bangladesh RMG: 4PEST Analysis: 5Political Environment in Bangladesh: 5Economic Analysis: 6Social Analysis: 7Technological Analysis: 8Porter’s Five Forces Analysis for Bangladesh RMG: 8Competitive Rivalry between Existing Players 8Bargaining Power of Suppliers 9Bargaining Power of Customers 10Threat of New Entrants 11Threat of Substitutes 12SWOT analysis of RMG Bangladesh: 12Strengths: 13Weaknesses 13Opportunities 14Threats: 15RMG contribution in Bangladesh economy 15RMG Bangladesh in international Marketing 16Export of RMG Bangladesh 17Opportunity analysis for RMG in Bangladesh 18Major competitive advantage of RMG Bangladesh 19Market entry 21Target Market 21Marketing Mix 22Recommendation for New Entrants: 23
Future forecast RMG Bangladesh: 24Conclusion: 24References 25AbstractBangladesh Ready-made Garments sector has been experiencing vast profitability since 2005. It plays very important role in Bangladesh’s economic growth. It is creating jobs and increasing the unemployment rate in the country. It has great potential of growth in international market. Currently, it has one of the largest contributions in Bangladesh’s export income. Foreign investors and buyer are very much interested in Bangladesh RMG. It has some competitive advantages against its main rivals China and India. It has low labor cost that leads to low production cost. As a result, it can offer products in low cost to its buyers. Bangladesh government has also create supportive policies for RMG. Bangladesh has good reputations in the global market and has good relationship with its suppliers and customers. Despite of some uncertainties and negative impact of external environment its competitive advantages are supporting it to compete successfully with its rivals in international market. So, to enter in a new market with RMG of Bangladesh will be profitable due to the supportive international and national policies that Bangladesh RMG is enjoying and in addition they have competitive advantages to survive and protect rivals in international market.