Generalizes on the best strategy to enter the market, e.g., visiting the country; importance of relationships to finding a good partner; use of agents.
Personal relationships are important when marketing products in Bangladesh. Many companies identify distributors or local agents to market their products on an exclusive basis. U.S. companies can evaluate potential business partners based on technical capacity, market experience, and other factors. The United States Trade Center at the U.S. Embassy works in coordination with the Foreign Commercial Service office in Kolkata, India to offer services to help identify and assess Bangladesh companies as potential business partners.
Many firms service Bangladesh from their regional offices in India, Singapore, and other locations in South or Southeast Asia or the Middle East. As companies become more established in the market, an increasing number choose to open branches or subsidiary offices in Bangladesh. Due to a complex shared history, Bangladeshis at times express a preference for foreign companies establishing regional offices outside of India.
Consumer goods companies are beginning to establish manufacturing facilities in Bangladesh. In addition, some companies have begun granting franchise licenses in Bangladesh, including casual restaurants, clothing stores, health spas, and specialty goods enterprises.
Successful companies adapt their products to the demands of the local marketplace. This may include smaller packaging to reduce retail pricing and marketing strategies that appeal to local consumer preferences.