Market Intelligence and Export Intelligence Inese Andersone <ul><li>GatewayBaltic </li></ul><ul><li>Elizabetes  str.  51 ,...
in short <ul><li>Established in 2004, we are  a  team of ten consultants  across the Baltic States:  7 in Latvia, 2 in Est...
Partners <ul><li>Global Intelligence Alliance  – global Market Intelligence and advisory group cooperates with GatewayBalt...
Clients
<ul><li>We are a Gateway for businesses entering the Baltic states and an opening for Baltic companies to international ma...
Why intelligence? To base your decisions on relevant market information To be better than your competitors... To  understa...
What is market intelligence? <ul><li>Market  I ntelligence is the  continuous and systematic process  that produces knowle...
<ul><li>Existing market  – intelligence to be ahead of competition and to spot sales opportunities </li></ul><ul><li>New m...
Enterprise environment Clients Markets Competition Suppliers Industry Technology Creates understanding about company’s exi...
Market researches News monitoring Expert opinion Information database Unpublished information <ul><li>Systematic and regul...
Existing market  –  intelligence to be ahead of competition and to spot sales opportunities in your existing market unders...
<ul><li>Think what information is  relevant to your business to be able to spot new sales OPPORTUNITIES: </li></ul><ul><li...
Why monitor? Monitoring  – regularly follow only the most vital information in changes within industry, competition or cli...
News monitoring  –  daily, weekly, monthly or quarterly monitoring sinchronizing news with strategic planning activities, ...
Following your market
New market choice  –  intelligence decisions about the strategic market choice understand  compare decide
Stra tegic markets Poten tially interesting markets New market choice Aim: to i dentify those markets which will be strate...
<ul><li>Aspects to think about when deciding about potentially interested markets: </li></ul><ul><li>Geographical distance...
Market   attractivenes <ul><li>Deep market dive to understand your strategic market:  </li></ul><ul><li>Client and partner...
Why m arket prioritization ? is necessary to be able to  concentrate your recources  and energy on the markets with higher...
Deep dive in your target market  – understand your target client and despote weaknesses in your competition understand  mo...
Close look at the market Clients Market/ Competition Industry Understand different aspects of your potential market
Competition analysis     understand Competitor profiles/ bench- marking      understand   Competitor strategy analysis  ...
Competitor bench-marking    understand <ul><li>Competitor bench-marking allows you to better understand your competition....
Having good information  you are able to act strategically and enter your target market
 
Export intelligence step by step to a new market penetration
Export  process professionally   wisely consistently Market research and selection Offer preparation Creation of export pl...
Step No.1:  Evaluation of exporting capacity
Evaluate yourself from several perspectives
Preparation for export Offer Is my  product suitable  for export? What must be configured  to make it suitable to the mark...
Domestic and export product
Preparation for export Marketing <ul><ul><li>Attractive Export Brand </li></ul></ul><ul><ul><li>Homepage in English </li><...
Preparation for export Sales resources and information about markets <ul><li>Sales skills – export manager </li></ul><ul><...
Preparation for export Export strategy Do we have  clear export targets ? Have we planned  market penetration strategy ? H...
Step No.3:  Creation of export strategy and plan
Export strategy and export plan Export strategy export  take up and development strategy which  sets goals, defines offer ...
<ul><li>EXPORT TARGETS </li></ul><ul><li>Defined in short term and middle term: </li></ul><ul><li>financial targets – what...
Sales process organization Follow up activities
Potential partner definition  <ul><li>According to industry and type: </li></ul><ul><ul><li>Retail companies  </li></ul></...
Partner selection <ul><li>Company selection is performed based on a pre-defined potential partner profile. </li></ul><ul><...
How to approach potential partners Telephone    Fax  E-mail  Post  Meeting 
<ul><li>The purpose of the first call  –  How to address the potential partners? </li></ul><ul><li>The contents of the com...
Exporters to attain the highest benefit should directly  go to the target market  - attending exhibitions, taking part in ...
Step No.6:  Communication with clients and relationship maintenance
Export business is based on the  personal relationship between buyer and seller Trust and reliability Long-term vision Pos...
Relationship maintenance and communication <ul><li>Regular communication (keeping in touch). </li></ul><ul><li>Create pers...
<ul><li>In a receipt of successful export the folowing ingredients must be balanced : </li></ul><ul><li>  </li></ul><ul><u...
<ul><li>Export project formula = </li></ul>=  competitive offer   x  promotion in the market and sales  x   situation in t...
At the moment when the first export contracts are signed and it seems that all the most difficult work has been done it is...
With pleasure we will discuss your export opportunities while having a cup of coffee! GatewayBaltic Elizabetes 51 , Riga, ...
Upcoming SlideShare
Loading in...5
×

Gateway Baltic [Inese Andersone] on Baltic Spark

1,044

Published on

Baltic Spark, http://www.balticsspark.org,

Published in: Business
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
1,044
On Slideshare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
0
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide
  • Zvanot uz uzņēmumu sekretārei vispirms ir īsi jāpastāsta sava interese un jāpajautā, lai savieno ar atbildīgo personu, lai lieki netērētu laiku stāstot garo runu vairākas reizes un ne īstajiem cilvēkiem. Ja savienojums nav iespējams, jāpajautā atbildīgās personas tiešais nr., lai zvanot atkārtoti netērētu laiku.
  • Gateway Baltic [Inese Andersone] on Baltic Spark

    1. 1. Market Intelligence and Export Intelligence Inese Andersone <ul><li>GatewayBaltic </li></ul><ul><li>Elizabetes str. 51 , Riga, Latvia </li></ul><ul><li>Phone: +371 671 658 94 </li></ul><ul><li>www.gatewaybaltic.com </li></ul>
    2. 2. in short <ul><li>Established in 2004, we are a team of ten consultants across the Baltic States: 7 in Latvia, 2 in Estonia and 1 in Lithuania </li></ul><ul><li>We add value with our local knowledge and cross-cultural understanding composed with a professional and personal approach </li></ul><ul><li>Unique export experience and methodology </li></ul><ul><li>Partners: </li></ul>
    3. 3. Partners <ul><li>Global Intelligence Alliance – global Market Intelligence and advisory group cooperates with GatewayBaltic on continuous basis on market monitoring in the Baltic States and Russia. </li></ul><ul><li>Innovation Norway – Norwegian state export promotion organization has chosen GatewayBaltic as their associated consultant in Latvia. </li></ul><ul><li>Canadean – global beverages Market Intelligence company works with GatewayBaltic for monitoring beverages market in Baltic states. </li></ul><ul><li>EasyLink Business Service - Czech Republic based consulting company cooperates with GatewayBaltic for partner identification projects in the Baltic states. </li></ul>
    4. 4. Clients
    5. 5. <ul><li>We are a Gateway for businesses entering the Baltic states and an opening for Baltic companies to international markets. </li></ul>our way Export Intelligence Export Intelligence services for companies interested to enter international markets with partner screening, partner identification and export management . Market Intelligence Market Intelligence solutions for international companies and organizations interested in up-to-date market information and in need for hands-on contacts in the Baltic region.
    6. 6. Why intelligence? To base your decisions on relevant market information To be better than your competitors... To understand the existing market and derive market strategy based on accurate information To spot market opportunities and risks ahead of others
    7. 7. What is market intelligence? <ul><li>Market I ntelligence is the continuous and systematic process that produces knowledge, insights and forecasts on a company’s external operating environment. </li></ul><ul><li>M arket I ntelligence combines and analyzes information on the industry, markets, customers and competitors from multiple sources to create a comprehensive basis from which effective strategic decisions can be made. </li></ul>
    8. 8. <ul><li>Existing market – intelligence to be ahead of competition and to spot sales opportunities </li></ul><ul><li>New market choice – intelligence decisions about the strategic market choice and attractivenes </li></ul><ul><li>Deep dive in your target market – deep dive in a potential market </li></ul>Intelligent in every step you take
    9. 9. Enterprise environment Clients Markets Competition Suppliers Industry Technology Creates understanding about company’s existing market place and future scenarios
    10. 10. Market researches News monitoring Expert opinion Information database Unpublished information <ul><li>Systematic and regular approach </li></ul><ul><li>Concentrating on relevant information </li></ul><ul><li>Integrating the information into strategic decision making </li></ul>Information sources
    11. 11. Existing market – intelligence to be ahead of competition and to spot sales opportunities in your existing market understand monitor act strategically
    12. 12. <ul><li>Think what information is relevant to your business to be able to spot new sales OPPORTUNITIES: </li></ul><ul><li>- new entrants in the market </li></ul><ul><li>- new plans for your existing clients </li></ul><ul><li>- competitor weaknesses </li></ul><ul><li>Think which information is relevant to your business and could increase RISK : </li></ul><ul><li>- new entrants in the market </li></ul><ul><li>- suppplier or client insolvencies </li></ul><ul><li>- new products in the market </li></ul>Existing market – more sales, more income understand monitor act strategically RISKS Opportunities
    13. 13. Why monitor? Monitoring – regularly follow only the most vital information in changes within industry, competition or client activitiy in the market. Monitoring is needed for strategic and tactical planning to see the raising risks and realized planned strategies. Market monitoring  action <ul><li>Monitoring themes – strategically important topics: </li></ul><ul><li>company market shares; </li></ul><ul><li>sales results; </li></ul><ul><li>competitor str a tegy and marketing activities </li></ul><ul><li>new entrants to the market and market developments </li></ul><ul><li>mergers and aqcuisitions within the industry </li></ul><ul><li>sales prices and volumes </li></ul><ul><li>new product launches </li></ul><ul><li>investments within the industry </li></ul>
    14. 14. News monitoring – daily, weekly, monthly or quarterly monitoring sinchronizing news with strategic planning activities, like, board meetings, planning meetings and other daily activities. Competitor monitoring – following competitor financial performance, production volu m es, marketing activities, new products and market strategy Industry monitoring – qua r terly updates about industry performance, important aspects that could create opportunities or risks within the industry Market monitoring  action
    15. 15. Following your market
    16. 16. New market choice – intelligence decisions about the strategic market choice understand compare decide
    17. 17. Stra tegic markets Poten tially interesting markets New market choice Aim: to i dentify those markets which will be strategic in future Which market to enter?
    18. 18. <ul><li>Aspects to think about when deciding about potentially interested markets: </li></ul><ul><li>Geographical distance – Accesibility to market and transportation links/ costs </li></ul><ul><li>Market size – How large is the market? What is the consumption of the market ? </li></ul><ul><li>Economic situation in the market – What is happening in the market? What is the industry situation? </li></ul><ul><li>Business culture – Do I understand the target market business culture and language? </li></ul><ul><li>Existing experience – Which m arkets ha ve showed interest earlier or where your competitors are exporting ? </li></ul>Which market to enter?
    19. 19. Market attractivenes <ul><li>Deep market dive to understand your strategic market: </li></ul><ul><li>Client and partner analysis to understand the route to the market </li></ul><ul><li>C ompetitor analysis to understand the offering </li></ul>Critical market information Pre- research: market choice Market deep dive
    20. 20. Why m arket prioritization ? is necessary to be able to concentrate your recources and energy on the markets with higher market potential, as welll as plan your market penetration Stra tegic markets Poten tially interesting markets
    21. 21. Deep dive in your target market – understand your target client and despote weaknesses in your competition understand monitor act strategically
    22. 22. Close look at the market Clients Market/ Competition Industry Understand different aspects of your potential market
    23. 23. Competition analysis  understand Competitor profiles/ bench- marking  understand Competitor strategy analysis  understand Competitor pricing and proposition  Strategy Scenario analysis  Strategy Competitor monitoring  Action Competition deep dive
    24. 24. Competitor bench-marking  understand <ul><li>Competitor bench-marking allows you to better understand your competition. It can be structurized in the information profiles about the main competitors: </li></ul><ul><li>I Competitor size: </li></ul><ul><ul><li>turnover, profit, employees </li></ul></ul><ul><li>II Competitor strategy: </li></ul><ul><ul><li>Competitor clients, markets and partners </li></ul></ul><ul><ul><li>Competitor strategy analysis – sales chanels and methods </li></ul></ul><ul><ul><li>Competitor offering – products/ services, assortiment pricing </li></ul></ul><ul><li>III Key succes factor identification and analysis </li></ul><ul><ul><ul><li>Analyze competor success and identify weakest points </li></ul></ul></ul><ul><li>Value: structurized information about the competitors allows to objectively analyze and compare the competition. This information is also important when deciding about the market entry strategy </li></ul><ul><li>NB! Do it regularly - quaterly/ half year basis/ yearly monitoring. </li></ul>
    25. 25. Having good information you are able to act strategically and enter your target market
    26. 27. Export intelligence step by step to a new market penetration
    27. 28. Export process professionally wisely consistently Market research and selection Offer preparation Creation of export plan Market penetration: product promotion in the market Relation maintenance and communication Evaluation of exporting capacity Export strategy
    28. 29. Step No.1: Evaluation of exporting capacity
    29. 30. Evaluate yourself from several perspectives
    30. 31. Preparation for export Offer Is my product suitable for export? What must be configured to make it suitable to the market? What is my price offer ? What is my capacity ? Cornerstones: - Sustainable quality - Competitive price - Volume
    31. 32. Domestic and export product
    32. 33. Preparation for export Marketing <ul><ul><li>Attractive Export Brand </li></ul></ul><ul><ul><li>Homepage in English </li></ul></ul><ul><ul><li>Company presentation </li></ul></ul><ul><ul><li>Brief company overview in electronic format </li></ul></ul><ul><ul><li>Product catalogue </li></ul></ul><ul><ul><li>Business cards </li></ul></ul><ul><ul><li>Exhibition stand and other marketing materials </li></ul></ul>
    33. 34. Preparation for export Sales resources and information about markets <ul><li>Sales skills – export manager </li></ul><ul><ul><li>Experience in export customer attraction and business </li></ul></ul><ul><ul><li>Good knowledge of foreign languages </li></ul></ul><ul><ul><li>Sales skills and obejctive oriented operations </li></ul></ul><ul><ul><li>Interest about markets </li></ul></ul><ul><li>Export oriented company employees </li></ul><ul><li>Information about markets – how much do I know about my target markets? </li></ul>
    34. 35. Preparation for export Export strategy Do we have clear export targets ? Have we planned market penetration strategy ? Have we defiened the strategic export markets ? Does the company possess financial resources for entering the markets ?
    35. 36. Step No.3: Creation of export strategy and plan
    36. 37. Export strategy and export plan Export strategy export take up and development strategy which sets goals, defines offer and market penetration activities , as well as, plans resources needed to succeed. Export plan activities to enter a specific market or several markets, defining time span, activities, responsibilities and proposing a budget for plan execution. Export strategy gives a company the direction and route, while export plan defines the steps necessary to be made to arrive at destination. How much costs export market penetration? How much financial resources are we ready to invest?
    37. 38. <ul><li>EXPORT TARGETS </li></ul><ul><li>Defined in short term and middle term: </li></ul><ul><li>financial targets – what turnover I want to achieve in export? </li></ul><ul><li>export market targets – in which markets I want to operate? </li></ul><ul><li>partner attraction targets – how many and what kind of partners I want to attract? </li></ul><ul><li>Example – to achieve export sales aggregating 30% of the total company turnover via active work in Eastern European markets </li></ul>
    38. 39. Sales process organization Follow up activities
    39. 40. Potential partner definition <ul><li>According to industry and type: </li></ul><ul><ul><li>Retail companies </li></ul></ul><ul><ul><li>Wholesale companies </li></ul></ul><ul><ul><li>Importers of specific products </li></ul></ul><ul><ul><li>Production companies – raw materials, similar type companies </li></ul></ul><ul><ul><li>Service providers – construction companies </li></ul></ul><ul><ul><li>Other </li></ul></ul><ul><li>According to size: small, medium, large </li></ul><ul><li>According to geographical coverage </li></ul><ul><li>Explore the profiles of the companies’ existing clients! </li></ul>
    40. 41. Partner selection <ul><li>Company selection is performed based on a pre-defined potential partner profile. </li></ul><ul><li>How? </li></ul><ul><li>Internet (it is helpful to use translated product name) ‏ </li></ul><ul><li>Industry related association data bases - members </li></ul><ul><li>Industry exhibition web pages - participants </li></ul><ul><li>Company data bases, international data bases </li></ul><ul><li>It is suggested to find a translated name for your product, service or industry in the local language. </li></ul><ul><li>Ussually start with selection of 20 – 25 companies. </li></ul>
    41. 42. How to approach potential partners Telephone  Fax  E-mail  Post  Meeting 
    42. 43. <ul><li>The purpose of the first call – How to address the potential partners? </li></ul><ul><li>The contents of the communication: </li></ul><ul><ul><li>Self introduction – Name, Surname </li></ul></ul><ul><ul><li>Country and company – brief company description </li></ul></ul><ul><ul><li>Products/Services – short introduction to products/services </li></ul></ul><ul><ul><li>Interest – emphasize cooperation and interest in finding partners </li></ul></ul><ul><ul><li>Some questions to the other party </li></ul></ul><ul><ul><li>Mention that you will call back to get the response regarding the additional information sent by e-mail and whether they have an interest in having a meeting. It is advantageous to mention approcimate time when you will be in the country. </li></ul></ul><ul><ul><li>Farewell and courtesy phrases </li></ul></ul>
    43. 44. Exporters to attain the highest benefit should directly go to the target market - attending exhibitions, taking part in trade missions, organizing meetings with potential customers!
    44. 45. Step No.6: Communication with clients and relationship maintenance
    45. 46. Export business is based on the personal relationship between buyer and seller Trust and reliability Long-term vision Positive cooperation Mutual benefit
    46. 47. Relationship maintenance and communication <ul><li>Regular communication (keeping in touch). </li></ul><ul><li>Create personal communication with client </li></ul><ul><li>Invite client to your home country and visit them abroad! </li></ul><ul><li>24h response principal </li></ul><ul><li>Keep the promises and search for solutions </li></ul><ul><li>Accept orders and ask questions, if clarifications are needed. </li></ul><ul><li>Communicate about problems in production or deliveries. </li></ul><ul><li>Take care not only of loading but also of delivery process. </li></ul><ul><li>In case of any problems, look for the solutions. </li></ul><ul><li>Positive and opened communication – ask about sales volumes, new products </li></ul>
    47. 48. <ul><li>In a receipt of successful export the folowing ingredients must be balanced : </li></ul><ul><li>  </li></ul><ul><ul><li>Long-term vision </li></ul></ul><ul><ul><li>Carefull planning of financial and human resources </li></ul></ul><ul><ul><li>Excellent preparation : marketing materials; product adaptation; market research and monitoring; exploration of business culture </li></ul></ul><ul><ul><li>Knowledge needed to enter the market: preparation of product offer; potential partner selection and quality service </li></ul></ul><ul><ul><li>Regular meetings to the target market </li></ul></ul><ul><ul><li>Profesional attitude in creating business relationship </li></ul></ul><ul><ul><li>Pay attention to details and quality </li></ul></ul>
    48. 49. <ul><li>Export project formula = </li></ul>= competitive offer x promotion in the market and sales x situation in target market x luck
    49. 50. At the moment when the first export contracts are signed and it seems that all the most difficult work has been done it is worth remembering a saying: „ It takes years to create a market, and few days to lose it. ”
    50. 51. With pleasure we will discuss your export opportunities while having a cup of coffee! GatewayBaltic Elizabetes 51 , Riga, Latvia Tel: +371 671 658 9 4 www.gatewaybaltic.com

    ×