Factors that Influence pricing in the middle east markets

Consumer Behavior Consumer behaviour in Islamic states has some limitations when compared to Western countries. For Muslims, the goal in life and work is always associated with traditions and religion. These practices are in turn, reflected in many aspects of business and the consumption patterns of consumers in the Middle East.

Kavoossi (2000) outlined the Consumer behavior in an Islamic society based on four general principles: the belief in the last day (Akhira); the Islamic concept of success; the Islamic concept of wealth (Kavoossi, 1988); and the moral dimensions of consumer behavior, such as limitations placed on consumption, or principles of caring for others ( Kahf, 1981) (qtd in Kavoossi 2000,p. 26). Shariah also sets the protocol for consumer behaviour in Islamic societies. Some important moral dimensions of consumer behavior include “defining Halal (lawful), Haram (unlawful), and Makrough (conditional) articles” (Kavoossi 2000,p.29).

Given the restrictions, the investor should first determine whether the business or goods that he plans to establish in the Middle East conforms to the cultural and traditional constructs. In the study of Ford, Nonis and Hudson (2005), it revealed that most Middle East countries were group oriented. The collective was far more important than individual opinions. Social interaction are “often unselfish behaviors…it is most important in these cultures where what others think of them is critical to be accepted in the group”(p. 43).

Lebanese consumers were ““followers” and support common welfare, protect the interests of their members and expect respect and loyalty in return”. (p. 43). Competition Prices in Bahrain could also be influenced by the presence of other similar American fastfood chains operating in the area together with Dairy Queen’s restaurant. It should also be reasonably priced for the type of products offered. Both local and international fast food chains compete for Bahraini customers both local and expatriates. Bahrain This Month (2007) listed several fast food chains that have approximately the same price ranges (below 5 BD).

(See Table 2) The presence of many American-based fast food chains explained the Bahraini investors willingness to invest in American brands. In 2005, there were over 40 U. S. franchised restaurants that operated in Bahrain. Most franchise owners financed the business through bank loans, personal or family resources (p. 24) Table 2 – Selected Fast Food Chains in Bahrain (Bahrain This Month 2007) Others Pricing is also influenced by other factors such as shipping and importation costs. Although US products face stiff competition from Europe and Asia, the exchange rate shifts in European and Asian currencies counterbalance the costs.

Usually, importers impose a mark-up of 10-15 percent while retail food prices are usually 25-30 percent above their import prices (US Foreign Commercial Service and US Department of State 2004, p. 39). The distance from US mainland to Bahrain also required on the average four to five weeks’ travel from US ports to Arabian Gulf ports (AgExporter 1996). Power, water, communication and gas are subsidized by the state and therefore cheaper than usual. In the United States, Dairy Queen had ceased using discount prices on its products. Instead it focused on introducing new products to the menu to whet up the appetites of their customers.

It not only attracted new customers, it also helped build their brand (Garber 2004, p. 4). Analyzing Business Processes SWOT Analysis SWOT (Strengths, Weaknesses, Opportunities and Threats) Analysis technique is often used as a key tool in strategic planning of business processes. This analysis tool is employed to examine the areas where the organization can be improved and enhanced. Table 1 lists some of the possible areas for consideration. (See Table 3) Table 3. SWOT Analysis (Possible areas for consideration) Strengths 1. Human Resource The company’s value is in its human resource. (i. e. strong technical staff).

2. Organization Competence of managers is reviewed. 3. Budget Are there available funds for upgrade? 4. Project Management Cycle Product Life-Cycle; end-of-life cycle 5. Vision and Mission Company initiative to implement improvements. Weaknesses 1. Human Resource Attitudes towards change 2. Organization Monitoring and evaluation tools Scheduling Project tracking and review 3. Budget Costs of Projects are questionable 4. Project Management Priority settings 5. Customer service Opportunities 1. Business reputation clearly established 2. Strong marketing strategy – 3. Customer base 4. Strong financial foundations.

5. Technology enabled Threats 1. Economic down-turn 2. Rapid technological development might overtake their technological infrastructure improvement 3. Legacy system migration might be too costly. 4. More competitors. Using the SWOT analysis can show the current state of the company and the initiated efforts to improve their operations. The lack of coherent project implementation and improvement plans weakens the company’s position. Given that the customers are the ones suggesting to the company that they improve their business processes, the company must heed the advice of their customers.

The customers are quite concerned about incurred costs. Porter’s Five Forces Michael Porter proposed a model to evaluate a company’s opportunity within the industry. The five forces that shape competition within an industry are: “(1) the risk of entry by potential competitors, (2) the intensity of rivalry among established companies within an industry, (3) the bargaining power of buyers, (4) the bargaining power of suppliers, and (5) the closeness of substitutes to an industry’s products” (Hill ; Jones 2004, p.

40). Porter’s five forces analysis is used to evaluate the competitive advantage of the company. Porter’s five forces would help IDQ identify its competitors outside the United States. With more and more foreign fast food businesses opening in Bahrain, it is important for the company to carefully size up its competitors.

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with MyhomeworkGeeks
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Management
Thank you!!! I received my order in record timing.
Customer 452551, February 9th, 2021
business
Great job
Customer 452773, February 13th, 2023
Business and administrative studies
excellent work
Customer 452773, March 9th, 2023
Social Work and Human Services
Great work I would love to continue working with this writer thought out the 11 week course.
Customer 452667, May 30th, 2021
fin571
EXCELLEN T
Customer 452773, March 21st, 2024
Nursing
thank you so much
Customer 452749, June 10th, 2021
Criminal Justice
This has been the greatest help while I am recovering from an illness. Thank your team so much.
Customer 452671, May 2nd, 2021
Business and administrative studies
Thanks
Customer 452773, March 3rd, 2023
History
Don't really see any of sources I provided, but elsewise its great, thank you!
Customer 452697, May 8th, 2021
10th grade English
very good
Customer 452773, March 26th, 2023
Human Resources Management (HRM)
excellent
Customer 452773, June 25th, 2023
Data 564
excellent work
Customer 452773, April 11th, 2024
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
Close

Sometimes it is hard to do all the work on your own

Let us help you get a good grade on your paper. Get professional help and free up your time for more important courses. Let us handle your;

  • Dissertations and Thesis
  • Essays
  • All Assignments

  • Research papers
  • Terms Papers
  • Online Classes
Live ChatWhatsApp