Mala Samaroo and Natasha Gomes-George
The aim of this research report is to evaluate the Trinidad company – Carib Brewery’s – exporting mode of entry into the Cuban market which commenced in January 2019. This research is significant because it will supply readers with a thorough examination of the exportation mode that was negotiated and utilized by Trinidad and Tobago’s Carib Brewery. Also this research will spotlight as well the possible benefits and challenges that Trinidad and Tobago’s Carib Brewery successfully managed to eliminate during the two year intense negotiations (2016 – 2018) with Cuban authorities prior to the company’s entry into the Cuban market in December 2018, after Carib Brewery officially appointed UCSA Freixent S. A. as its agent for the Cuban market. As such, the purpose of this research report will result in a better understanding of the exporting mode of entry as well as the benefits and challenges upon entering into the Cuban market.
In Section I of the research report, general data of the organization has been gathered. Data is gathered through primary and secondary sources also. Section II of the research report, the information is gathered through the PESTLE analysis to help determine the factors that are at stake in the Cuban market. Objective of the research report is to conduct a thorough analysis that will relate the various marketing and distribution strategies of Carib Brewery into this particular market. As a result, the research report draws attention to the fact that Cubans favour Carib Brewery beverages particular Carib lager beer which comprised 45% of the market. Pricing strategy proved to be the most successful marketing and distribution strategy in the Cuban market as Carib Brewery will undoubtedly gain a competitive edge by offering their product at low affordable prices. Regarding the political factor of the PESTLE analysis, it is suggested that Carib Brewery pays special attention to tax prices as they fluctuate on a regular basis.
Also, economically speaking, the cost of labour and raw materials tend to increase regularly, therefore this factor needs to be evaluated. More importantly, Carib Brewery utilizes recycling procedures pertaining to old bottles in order to conserve the environment. This environmental factor has proven to be an effective one thus far and can be in the Cuban market as well. In the end it is recommended that Carib Brewery export Carib products to Cuba specifically the Carib lager beer. Also, in order to boost sales, culture-specific marketing plans should be followed alongside pricing strategies. The economy pricing method should be followed as low prices can be offered; also making a name in the Cuban market is important. Lastly, it is recommended that Carib Brewery utilize the Segmentation, Targeting & Positioning (STP) Strategy as the right products will reach the correct customer.
The full paper may be accessed here.
The paper was authored by Mala Samaroo and edited by Natasha Gomes-George, an International Trade Development Specialist.
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