Water from Iceland. Bottled Water Industry Speech or Presentation

Water from Iceland. Bottled Water Industry - Speech or Presentation Example In his mind, as the case tells us, he had business thoughts in his mind. Since his tour in Europe, fully funded by his parents as his graduation present, the waters of Ice land fully captivated him. For one reason, he felt that he would do good business if he started a company that was to import this water to the United States. Ice land did not have any industries. Mainly, it relied on the fish export business for its income. The idea kept ticking in his mind until he made up his mind to conduct a market research for the viability of his idea. Later in this presentation, I will discuss his findings after the research. After much thought, perhaps he realized he was more business oriented as he went into the research full throttle. It is interesting to find a fresh graduate contemplating on becoming an entrepreneur at the expense of a full time job. However, due to his business acumen, Otis was ready to make his idea a reality in case he found the industry viable enough. He was certain that if the idea were successful, the company would be a success. Water from Ice land tasted wonderful. In comparison to the United States water, what he tasted during his trip was great. He considered an imports company that would import water from Ice land and bottled it in the United States for the United States market. Armed with a business idea in his mind, he went to the market to conduct a market research about the American bottled water industry. ... Further, he gathered that there were several types of drinking water in the market. These were treated or processed water, mineral water, sparkling water, effervescence water and spring well water. Through the entire investigation, he realized that no water was from European region. This was a big opportunity for him. To make his dreams even appear more real, he realized that the consumption of water was increasing with time. Four reasons were responsible for this growth. Among these factors was increased awareness among the consumers of the impure nature of the city water supplies, increased dissatisfaction with the taste and odour of the city water, rising social influence and the increased desire for consumption of caffeine, sugar, and other coffee substances as well as soft drinks. Further, the highest consumers of bottled water were in the states of California, Texas, Florida, New York and Arizona. He also found out that the industry made numerous profits annually both on the re tail and wholesale business. For instance, in 2001, a total of $6.5 billion accrued from wholesale alone and $7.7 billion in retail. In the recent years, some companies had started importing water. Although this kept rising, between 1998 and 2000 the volumes had declined. He discovered that ice land in specific accounted for only 0.05% market share of the total water imported into the United States. With this information, Otis extended his research on two significant countries in his imported water from Ice land. The United States bottled water regulation and the economic condition of Ice land. Regulation of the bottled water industry in the United States was both at the federal government level and by various states government levels. While some states had stringent