International marketing brand acceptance of foreign food firms in Colombia Commented [AMPL1]: Marketing or Brand?

Kosmos Durán Muñoz

Jairo Hernán Goméz Calderón

Nikolaus Freiherr von Aretin

Tatiana Triviño Montoya

Ana María Parente Laverde

Marketing research

University of Medellin

Faculty of Economic and Administrative sciences Commented [AMPL2]: School

International Business

Medellin

2019
 International brand acceptance of foreign Food firms in Colombia

Research problem

Colombia’s food sector has a huge impact on the country’s economy, with sales of US 21

billion approximately and 7% growth in 2018 (Zarrouki, K 2019). It is estimated that the

sector will continue to grow, reaching US 23 billion by 2020. The per capita consumption of

food in Latin America is US 572 and Colombia’s US 380, although the per capita

consumption of food in Colombia is lower than the rest of latin american countries the

scenario is favorable for investors. Like mentioned before this is a favorable scenario for

investors due to several factors as: the increasing demand of food and shopping convenience

driving a significant retail transformation and expansion, the growth of purchasing power that

revived the processed food sector riding the unstoppable wave of consumerism and the influx

of foreign players, and according to Euromonitor International imported food prices are

greatly sought after (especially in the youth).

A foreign investor wants to enter to the food market in Colombia. Therefore, he/she needs

to know the acceptance of foreign food firms in the country. Commented [AMPL3]: Or brands…

Without this research the investor will have to decide whether to enter assuming a great

risk of failing due to not knowing the level of acceptance that foreign firms have or take a

conservative position not entering into the market and thus protect their resources.

General objective:

Identify the level of international brand acceptance of foreign food firms in Colombia. Commented [AMPL4]: ok

Specific Objectives

● Recognize if consumers prefer national or foreign food brands.

● Identify consumers perception of foreign food brands.

 ● Identify an estimated percentage of consumers who consume foreign food

brands in their daily lives. Commented [AMPL5]: this is difficult…

Research approach

A conclusive investigation is used to examine the acceptance of foreign food firms in

Colombia, analyzing the possible scenarios to reach precise conclusions for decision making.

To analyze these data, descriptive methods are used to establish patterns, traits and

behaviors of Colombian people and have an approach to the consumer preferences towards

foreign firms. Commented [AMPL6]: good

To realize the study will use more than one sample of the population at a specific time. Commented [AMPL7]: we will?

Research method and techniques

We will use mixed research methods including quantitative and qualitative data. Commented [AMPL8]: Thats a challenge

The quantitative techniques we use is a survey. Customers are asked to fill out a

questionnaire, answering questions about their preferences and their behaviour when buying

food as well as their attitude towards foreign food brands in general and towards the specific

brands. We also collect with this survey demographical data about our customers. Commented [AMPL9]: Where are you dooing this? Is
this a first or second step?
Commented [AMPL10]: Is this part going to help you
The qualitative technique we use is a focus group. We select eight to twelve participants of achieve objective 3?
Commented [AMPL11]: will
different age, gender, occupation so that the composition of the group mirrors the Colombian

population. In the focus group the participants will, guided by a moderator, discuss their

experiences with products from foreign food firms and explain their reasoning behind their

attitude towards foreign food brands. Commented [AMPL12]: why not interviews?

Sampling technique
 As the investment of foreign food firms implies a high sum of money that would be at risk

in case of not doing a good market study, we have chosen the technique of systematic

sampling, although it is a probability sampling technique and requires a higher cost of

implementation than non-probability techniques, this will be more useful since it allows us to

sample at regular intervals from the sampling frame. Systematic sampling is often more

convenient than simple random sampling, and it is easy to administer. However, it may also

lead to bias. This study must be done in a large enough size to obtain a report that provides a Commented [AMPL13]: y
Commented [AMPL14R13]: es
more accurate result of what the population thinks and feels about the survey, so that we are
Commented [AMPL15]: and which is the sampling
technique for the focus group?
able to conclude the acceptance of foreign food firms.

Source of information

Since the data for this market research is obtained through surveys conducted directly by a

selected population segment, the information obtained is considered as the primary source.

However, it is also possible to consider various statistical data as a secondary source, such as

size and growing rate of the food sector in Colombia and the development of the market

participation of foreign brands in that sector.

Bibliografía

Bhat, A. (n.d.). Qualitative research: definition, types, methods and examples.

Retrieved from QuestionPro: https://www.questionpro.com/blog/qualitative-research-

methods/

Bhat, A. (s.f.). Quantitative researh: definition, methods, types and examples.

Obtenido de QuestionPro: https://www.questionpro.com/blog/quantitative-research/ Commented [AMPL16]: Why twice?

 Invest in Bogotá. (2019, January 23). Fodd and Beverages Industry. Retrieved

from Invest in Bogotá: https://en.investinbogota.org/investment-sectors/food-and-

beverages-industry-bogota

Zarrouki, K. (2019, February 14). Sector Trend Analysis-Packaged food trends in

Colombia. Retrieved from Agriculture and Agri-food Canada:

http://www.agr.gc.ca/eng/industry-markets-and-trade/international-agri-food-market-

intelligence/reports/sector-trend-analysis-packaged-food-trends-in-

colombia/?id=1532006561168

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