The paper "Comparison of New Zealand and Singapore Marketing" is an outstanding example of a marketing case study. Business environment- the 2015 ease of doing business report by World Bank ranks Singapore as the easiest place to do business globally while New Zealand comes second. Indeed, registering a company involves just two steps that are completed within 24 hours online. Singapore also fares better than New Zealand in terms of taxes and cross border trade which would matter to the company. Singapore is also placed ahead of New Zealand as far as trade freedom and technology are concerned. Taxation – Singapore is rated the 4th easiest place globally in paying taxes with New Zealand ranking 26th.
The tax burden in Singapore is also lower with the corporate tax rate at 17% and GST being 7% compared to New Zealand’ s 30% and 15% respectively (Lew, 2009). IP protection – while Singapore is ranked second in IP protection, New Zealand ranks sixth globally. Global competitiveness – based on the above factors Singapore is ranked the second most competitive economy globally. However, New Zealand’ s competitiveness is hindered by an inadequate supply of infrastructure, limited access to financing, high rates of tax restrictive labor practices, bureaucracy in business as well as the level of political stability which makes it the 17th most competitive economy globally. Based on the factors analyzed above, Dairy Farmers would prefer to venture in the Singapore market mainly because it is far much easier to do business in Singapore than in New Zealand.
Furthermore, the tax savings in Singapore will mean that the company can expect to make more after-tax profit in Singapore than in New Zealand. PEST analysis of the Singapore market and its comparison with Australia The political and legal environment Just like in Australia, Singapore is an investor-friendly country with the government setting up numerous organizations to help business and investors grow. The government through the ministry of trade and industry promotes investment and innovation.
The ministry has the task of anticipating problems while identifying opportunities for growth while coming up with policies to support enterprise (Stephan, 2011). A number of regulatory statutes exist under the ministry of finance including the companies act, business regulation act, currency and accountants act all aimed at making Singapore a world-class financial and business hub through building conducive business environment for business and investors. Through government E-Business portal, Singapore has been able to promote transparency where government supplies and procurement are done online. Singapore is characterized by efficient enforcement with low levels of corruption even lower than in Australia.
The government has also set up corruption practices investigations bureau to limit and deal with corrupt practices. This serves to improve the business environment and hence the country’ s competitiveness. Business licensing is relatively easy though the government puts in place specific measures aimed at protecting the local retail industry. Economic factors Singapore has been described as a vibrant free-market economy developing at a rapid pace.
The country has the highest per-capita income in ASEAN. The government supports the economy by providing a corruption-free environment with an educated and motivated workforce (Ken, 2015). In addition, there is a well-established legal and financial business framework. With the recent efforts by the government to diversify the economy, Dairy Farmers can expect to find a good environment for its operations.