Shift in Marketing

Consider the three key forces driving the new marketing realities in Bangladesh.(select a
business sector of your choice )

 How are they likely to change in the future ?

 What other major trends or forces might affecting marketing ?

The three key forces are Globalization, Technology & Social Responsibility . Globalization has
emerged as one of the most salient and powerful forces shaping domestic and world economies.
Globalization Means New Market Players, Overcapacity and so many challenges. In the context
of our country, Auto-mobile industry is emerging. Not just globalization , moreover
technological changes , Social responsibilities demand our attention. Not just Bangladesh,
Industries all over the world have elevated the role of corporate social responsibility.

Globalization is having a significant impact on industry structure. It helps changing the nature of
relationships between automakers and key suppliers.

The vehicle industry in Bangladesh, all at once, is growing. Because of the globalization,
technological advancements & social demand , The auto-motive market in Bangladesh has
actually more than increased in an area of years driven by climbing cars and truck customers.
The market size of automobile elements was about Tk 1,300 crore to Tk 1,400 crore
in the 2019 with an annual development rate of 10 to 12 percent which is
proliferating. so These forces are likely to change in the future through
Attracting foreign & local investors: Currently, the number of local investors has increased , we
see, in the less than last decade , two wheeler market in bangldesh grew more than three times ,
that’s emerging , besides, from sports cars to sedans, top auto-motive company in Bangladesh
like proggoti company ltd, iffad motors , Honda , Suzuki Bangladesh manufacturing a large
number of cars / bikes for the country. Increasing demand with consumer preferences, Local
manufacturers should develop strategic alliances with foreign Companies which helps to reduce
pressure of importing parts , cars & excetra. We know , japan has been considering Bangladesh
a prominent market for making investments which can be a golden opportunity for Bangldesh.
Moreover , indian companies are also shifting their manufacturing plants & geographical
priority. So we can see, a great change has been occurring owing to globalization , technological
advancements , business ethics helps to influence investors. Tough Bangladesh is a probable
choice.
Diversifying export basket : Bangladesh Auto Industries ltd. A local automobile company has
been enthusiastic to produce electrice vehicles in the country with the initial investment of USD
200 million dollors where 80% will be sourced locally. Significant project , plants will be bult
at signifinact economic zone in our courtry . specially Chittagong through proper segmentation,
targeting & positioning(STP) , one of the biggest industrial city in south asia. So, these electric
car being produced , by producing these high end vehicles, Bangladesh can capitalize on a duty
free access in chinse and indian markets increasing its exports basket.

Designing driving convenient roads & streets in Bangladesh : There is no substitute for a good
road to drive a good car or good bike. Few years ago , the maximum roads weren’t not very
good ,specially county ,upazilla sadar, major roads in all these places were not suitable for
driving any imported car or bike , now this is happening . we can see , Bangladesh’s first ever
expressway , Dhaka-bhanga expressway which reducing travel time between Dhaka and
Faridpur by several hours, improving connectivity between the capital and Khulna , other
southern district. These roads are fully convenient to drive cars , bike , wheelers anything
. Owing to these development, the sales of vehicles have increased a lot from before.
Imported cars, bikes are rising, its contributing to develop our economy.

Ensuring Auto motive parts production Strategy: its one of the essential steps to ahead the
manufacturing components . due to globalization , technological advancement , the world has
become a smaller place. In Bangladesh, the auto-components market has actually experienced
healthy and balanced development over the last few years. Because of the increase of auto
customers, Market Expert claims the auto components market has more than increased mostly so
making a plan include start-up financing, sourcing resources, advertising and marketing, and
place. Importers primarily import the engine, generator, radiator, ac unit, suspension, brake pads,
spoiler, edge, tire, trim plan, body elements, and also various other extra components required to
offer this market.

Despite its growing affluent middle-class population and increasing purchasing power
of the general mass, Bangladesh’s automobile industry has remained somewhat of an
anomaly . reducing use of reconditioned car
International Automotive suppliers shifting the production to emerging markets with cost-
effective labor to export parts and modules. Automotive companies moving processes and
technology to global outsourcing centersThe automobile market in Bangladesh has seen a
significant growth in the last decade, especially between 2015 and 2017.