Bangladesh gained independence from Pakistan in 1971 after a war. It has a tropical climate and borders India and Burma. The main ethnic group is Bengali and Islam is the dominant religion. The economy relies heavily on exports of garments and agriculture. Tourism, especially to Cox's Bazar beach, is a growing industry, as is franchising which has no restrictions. Business meetings follow etiquette like handshakes upon arrival and departure and starting late.
2. History & Geography
S Formerly knows as East
Pakistan, Bangladesh
gained its freedom in 1971
after the war with Pakistan.
S Located in Southern Asia,
bordering the Bay of Bengal,
India, and Burma.
S Tropical climate with mild
winter, hot and humid
summer, and warm rainy
monsoon.
3. The Flag
S The green represents the
grass lands and is the
official color of Islam.
S Red stands for the rising
sun and the blood shed
by the nation to gain
independence from
Pakistan.
4. Culture
&
Facts
S Ethnic groups:
* 98% of the population is Bengali.
* 2% are tribal groups living in south east of the country.
S Religion
* Muslim: 89.5%
* Hindu: 9.6%
*Other religions: 0.9% (Christianity, Buddhism, & Shamanism)
S Official language is Bengali; English is the second spoken
language.
5. Culture & Facts
continued…
S Weekends are Fridays and Saturdays along with major holidays of
all religions in the country.
S It’s a hierarchical society.
S People are given respect based on their age and position.
S Elders are given more respect and looked up as the wise ones.
S The oldest male in the group is required to make the decision in
business and family matters.
S Most families are extended families living under the same roof.
6. Business Meetings & Etiquette
S Greetings mostly takes place between the same sex.
S Handshake is the common greeting accepted in business
meetings, taking place upon arriving and leaving meetings.
S Businesswomen may or may not shake hand with the opposite
sex; Wait for her to bring her hand forward first.
S It’s usual for events, business or private, to start an hour or two
late.
S Never lose temper during an argument in meetings, it is
considered rude and unprofessional.
7. Business Meetings & Etiquette
continued…
S Businessmen are dressed in suit
and tie.
S Businesswomen dressed in their
traditional outfit, the sari. When
meeting with higher foreign clients
they may wear a business suit that
covers their legs and sleeves
covering their elbows.
S Educational background is most
valued.
S Business cards are given either
before or after each meeting and
majority of them are written in
English.
8. Business & Economy Facts
S About 5% of the population is unemployed.
S Many workers in the labor force work only work few hours a week with low
wages.
S Currency is known as Taka; $1 USD= 81 Tk.
S The GDP as of 2012 is $115.6 billion.
S Imports: $34.56 billion U.S. dollars; Exports: $26.25 billion U.S. dollars.
S Major Exports: Garments, Knitwear, Leather, Frozen foods, Agricultural
products.
S Major Imports: Textiles, Petroleum products, Cement, Machinery
equipment, chemicals, iron and steel .
9. Rules
of Marketing in Bangladesh
S Adding jingles and mini dance sequence attracts consumers.
S Many TV ads are shot outside the country in places such as Athens,
Paris, Sydney etc.
S During major holidays offering something free with the product is
always useful and increases sale.
S Never insult the government in any form of advertisement.
S The use of foul language, tobacco, and alcohol is prohibited.
S Never show any display of abuse, harassment, vulgarity in any ads.
S Mocking other products and brands in your ad is strictly prohibited.
10. Top Business Areas
S Cell phone industry.
S Tourism.
S Garment.
S Beauty products.
S Real-Estate.
S Franchising.
S Online Shopping.
11. Tourism
S Cox’s Bazar
* Known as the longest beach in the world (77.67 miles).
* Tourist capital of the country.
* Tourist season is usually between November-February.
* Activities include: scuba diving, surfing, shopping, island hopping.
* http://youtu.be/W2GZrkqksms
12. Franchising
S Franchising is a
growing industry in
Bangladesh.
S There are no rules or
regulations that
restricts this business
from forming.
13. Consumer Behavior
S Brands
* High-end international brands are most valued.
* Feeling prestigious .
S Bargaining and Negotiating
.* Bengalis like to bargain on almost any product.
S Business lunch or dinner
* Giving gifts such as pastries, fruit baskets etc. to your host
is appropriate.
* Don’t bring liquor as a gift unless you know your host drinks.
* It is usual for the host to offer you tea after a meal.
