Hershey’s Entry Into Turkey

misfire is a country poised between Asia and Europe. This country of 71 zillion people is crucial to economic developments as it lies between producers and consumers, supply and demand. While seen as a twain between the East and West, this majority Muslim country is also torn between both earths. Its manly authorities has a long history of struggles between those who feel their countrys identity lies in the optic East, those who desire full accession to the European Union (EU), and entirely those in between. The Turkish governments main immaterial policy goals are to make Turkey an integral part of the European UnionThe Turkish government has, in recent years, worked on reforms to liberalize Turkeys traffic relationships and open its markets. Turkeys main export commodities are apparel, foodstuffs, textiles, metal manufactures, and transport equipment. Its main export partner is Germany, who receives 11. 3% of Turkeys exports, followed by the United Kingdom, Italy, the U nited States, France, and Spain. On the import side, it receives the approximately products from Russia, at 12. 8% of total imports, followed by Germany, China, Italy, France, the United States, and Iran.Turkeys trade with Iran, the other abundant economic power in the region, is of special interest to those in the United States and elsewhere who are refer about Irans intentions and Turkeys ability to hedge against Iran in the region. Turkey has a alive(p) and complex scrimping that has seen strong growth since a devastating economic crisis in 2001 but cool off faces several major vulnerabilities. The country has used its mindset of modernization to develop competitive commerce and industries in the country, yet struggles to maintain equity between the urban and rural areas.An exceptionally towering 35% of its macrocosm is still employed in the agricultural sector (compare to 2. 8% in Germany, 8. 5% in Russia, 0. 6% in the United States, etc.. The country has seen decreased inflation and strong economic growth in the brave out five to seven years, largely due to renewed investor interest in emerging markets, tightened fiscal policies, and global Monetary Fund backing. Its economy, however, is still vulnerable because of high external debt and a high current storey deficit. Despite strong growth, Turkeys economy is still relatively small in comparability to its main trading partners.Comparisons can be made by examining countries gross domestic product, which is the value of all final goods and services produced within a domain in a given year. In 2007 Turkey had an estimated gross domestic product of $667. 7 billion, with a gross domestic product per capita (purchasing power per individual) of approximately $9,400. The United States, the largest economy in the world and one of Turkeys major trading partners, had an estimated GDP in 2007 of $13. 86 trillion, with a GDP per capita of $46,000. Three of Turkeys other main trading partners are Germany, Italy, and France. Germany had an estimated 2007 GDP of $2. 33 trillion, with GDP per capita at $34,400 Italy had a GDP of $1. 8 trillion, with GDP per capita of $31,000 and France had a GDP of $2. 067 trillion, with a GDP per capita of $33,800. Thus, eyepatch large in comparison to its neighbors (Armenia, GDP $16. 83 billion Greece, GDP $326. 4 billion etc. ), Turkey still has much room for growth and competitive development in comparison to its major trading partners. When compared to Turkey, The people of France are among the healthiest, wealthiest, and best-educated people in the world. The country is highly urbanized with more than 75 per cent of the people living in cities.The cut are known for their sophistication, their culture, the beauty of their spoken language, and their various accomplishments in literature, arts, and sciences. Even French cuisine and apparels have long been a source of national pride. The economy of France is one of the highly developed economies in the European Union (EU). The country is the leading manufacturer of goods such(prenominal) as automobiles, electrical equipments, machine tools, and chemicals. Apart from this, France is also the European Unions most important agricultural nation and ships cereals, wine, cheese, and other agricultural products to the rest of Europe and the world.However, today, the economy in France is determined by services industry, which includes banking, sell and wholesale trade, communications, health care, and tourism. With its culture, France has been able to influence the entire Western world, particularly in the areas of art and literature. French literary and artistic contributions during the Renaissance and the Age of Enlightenment deeply influenced the path of Western cultural development. It was during the Middle Ages that France attained cultural prominence in Europe. The 16th, 17th, and 18th centuries saw many of Europes most talented artists and artisans universe attracted to Pari s.The 20th century was considered to be the cinema era, with French cinema assuming a leading world position, particularly in the 1960s. World-renowned French cultural figures include philosophers, writers, painters, sculptors, architects, composers, playwrights, and film directors. Based on the country analysis, it is exonerated that Turkey is a market whose economy is rapidly growing, and the government of Turkeys new foreign trade policies are open market business friendly. Kraft has been aggressively pursuing to enter the French market by acquiring Cadbury by preparing to bid as much as 18. billion. Given this high competition in the French market and the possible over load of the market with Krafts products, it would not be of Hersheys best business interest to compete and enter into the French food market at this time. Therefore, I recommend that Hershey should enter the markets of Turkey first before it ventures into opportunities in France. This means, popular companies su ch as Hershey can take advantage of the new open market policies of the Turkish government to research entrepreneurial opportunities to deploy its popular products.One of the Entrepreneurial opportunities to explore is to expand product platforms that suite the local anesthetic market and strengthen the route to market through local partnerships and acquisition. I would recommend exporting as an initial market entry approach followed by joint ventures and contract manufacturing. Reference 1. Country digest Report Turkey. August 2009. Market Research. com 2. www. economist. com Country briefings France 3. France24. com. Jan, 2010. Hershey eyes $ 17. 0 billion bid for Cadbury.