re creating marketing niches for themselves in particular product or service areas. When considering international marketing, companies must take into account their own internal structure, the role of the governments of the countries considered, and the way in which the company would operate in the foreign nation (whether directly, as part of a joint venture, or through some licensing effort). Political situations must be considered, and the labor situation in the foreign country (as well as in the domestic country) must also be taken into account. This research examines the prospect of introducing a protein powder dietary supplement into the Singapore market.
Singapore is a small, prosperous city-state which is also one of the world's busiest ports. Its population of 3 million has seen living standards increase steadily in recent years; this increase has been overseen and guided by the government's very successful export-driven economic strategy. Per capita GDP reached US $16,700 in 1994, and $26,042 in 1996; quality of life in Singapore is generally considered to have reached developed country standards. The port is the world's second busiest in terms of cargo tonnage and is key to its growing prosperity and continued economic health. Because of its port, Singapore acts both as the trading and distribution hub for the expanding economies of Southeast Asia, as well as the major point linking the region to the rest of the world. In addition to trade, Singapore has established itself as an important manufacturing base, specializing in higher value-added production, as well as a financial center for the region as a whole and the nation enjoys a high level of transit activity at its air and sea ports (Country Commercial Guide, 1998, p. 6).
Despite Singapore's recent exceptional economic expansion, inflation has remained low. In 1994, inflation rose slightly, from 2.4 percent in 1993 to 3.1 percent, partly as a result of the ...