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This webinar determines when is the right time for you to start exporting at scale, understand how to prioritize and enter different export market opportunities and identify the assistance you need to get a start in export marketing.
At Trade Bridge Group (TBG), We Specialise in Overseas Expansion. We Implement Global Strategic, Integrated Marketing, Communications and Business Development Plans; To Help Business & Countries Boost International Trade, Foreign Investment & Cultural Exchange.
We Help our Clients:
1) Build Global Connections,
2) Raise International Brand Awareness, and
3) Find Foreign Paying Customers or Foreign Direct Investors.
TBG Global: Overseas Expansion
Overseas Expansion Specialists
Internationalisation Specialists
International Expansion Consulting
International Business Launch
International Company Formation
International Market Entry Strategy
International Lead Generation
TBG Global: Overseas Communications
International Sales & Buisness Development
International Strategic Communications
International Crisis Communications
International Corporate Communications
International Digital Communications
International Editing & Proofreading
International Marketing
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Learn more at www.wdcep.com/business-in-dc/marketing-your-business/
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Introductory workshop aimed at sales and marketing teams - Build personas, understand channel option and collect relevant metrics linked to improved business performance and overall corporate goals.
Use this comprehensive primer to simplify exporting, discover exportable products and services, and determine and select the best target market entry alternative while ensuring that you get paid. See the book on Amazon and learn more at www.raymondhopkins.net.
"Over 50% of acquisitions had prior partnership relationships!"
Whether you are seeking to be acquired or to partner for revenue growth, the process is similar, a Partnering Process.
Better to be approached to be bought than to actively sell your company.
How do you do it?
Want to grow the 'Strategic Value' of your business?
Learn how to Increase your: ● Attractiveness ● Potential ● Revenue growth
While increasing your shareholder value!
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1- Preparing for Export Mats_Step_by_Step_KgnJULY2016_0.pptx
1. Preparing for Export Markets:
Important Considerations
Berletta Henlon Forrester
Manager, Market Development
Workshop: Step By Step Guide to Exporting
JAMPRO; 2016 July 7
2. JAMPRO
What do we do?
We seek to identify, create, and facilitate
opportunities for wealth creation for all
Jamaicans through trade and investment.
Market Development Value Proposition:
We leverage relationships to help buyers and
exporters convert trade opportunities into increased
sales.
3. • Basic Export Requirements
• Planning for Export
• Assessing Supply Capacity
• Assessing the Target Market
• Distributor Relationship
• Key Issues/Market Feedback
Important Considerations
4. Basic Considerations for Export
• Capacity: do you have enough to export? What’s the rule of thumb…;
• Market Research/Targeting: identifying markets; consumer culture/
tastes; demand for product/service ;identifying channels of distribution;
required standards & quality (i.e certifications- e.g GAP, HACCP);
• The Visual: Packaging; Labelling;
• Marketing: Branding and in-market promotion( including selling in-
market- warranties, return policy, after sale service etc.);
• IP Protection: Register your name, mark and brand in all target
markets;
• Market Access: Trade Agreements;
• Exporter Registration – JAMPRO
5. Planning is Key
• Carry out due diligence – what product/service in
demand? Which countries to target? What are the
market access requirements?[Ref. to ITC: Market
analysis tools- Trade Map; Market Access Map.
Market information-market trends, non-tariff
measures and geographical indications];
• Develop an export marketing plan- set clear
objectives (sales volume, $, # of new markets,
customers); Timelines; Define your target market ;
• Manage your supply chain-ensure sustainability
• Financial Plan
6. Assess the Target Market/Route to Market
• Identify and target the market segment
• Evaluate the price levels, trends and competitors
• Identify issues that may be entry barriers for your product
• Research the distribution channels
• Examine shipping routes and costs
• Determine appropriate logistics partners:
– Customs Broker, Consolidator, Agent, Courier, Post Office?
7. Assess Internal Capacity
• Assess your capacity to enter your chosen market;
and to service the market
• Adaptability/Agility is key - how will you adjust your
marketing mix (product, promotion, price, place) to
respond to market changes?
• Determine the impact of the resource requirements
on your domestic marketing and sales efforts
8. Assess Internal Capacity
• Elements to be assessed include:
– Operating standards and product quality,
– Production capacity,
– Raw material availability/consistency,
– Human resources
– Financial resources
– Overall competitiveness
9. Distributor Relationship
• Appoint a distributor to handle your product
• Ensure clear, unambiguous contract terms
• Check background, reputation and performance
• Get recommendations/referrals
• Seek to develop a winning partnership
10. Your Distributor
• KEY QUESTIONS:
– Is the distributor financially strong?
– Does he have the facilities needed to service the market?
– Is he linked into the right network to sell your product?
– How important is your product in his product mix?
11. In Summary…
• Focus on your product and aim to be the best
• Know your market and competitors
• Manage well all processes from factory to market
• Support your product in the market; Plan to visit as
often as possible
• Honour your commitments! …Communicate
• It’s all about relationships – Build partnerships:
Make them solid; Make them last!
12. Key Issues/Market Feedback
Packaging & Labelling
• A key determinant in consumer purchasing decision
• Type/quality - products must arrive in good condition
• Packaging for the target market/segment (sizes;
number of units in a box; packaging for display;
convenience)
• Bilingual/ multi-lingual labels (e.g. French for Canada)
• Unattractive/inadequate labelling (Font, point size,
measurements - grams vs. ounces, nutritional
information, usage directions). Market-specific
labelling requirements
13. Key Issues/Market Feedback
Pricing
• Quote prices in the currency of the country
(Canadian buyers complain that Jamaican exporters tend to
quote in US$)
• Uncompetitive prices
– market research is key
– Understand the competitive landscape (key players and
their pricing strategies)
14. Key Issues/Market Feedback
• Understanding the supply chain – exporters need to
appreciate the entire process beyond shipping the product
• Lack of differentiation (too many ‘me too’ products in the
same place)
• Understanding market nuances – differences in
culture/taste/interpretation
– e.g. rose water, which is used in Jamaica for baking (labelled as food);
however, this product is used only as an astringent, for cosmetic
purposes, in Trinidad.
– Product may end up in the wrong aisle!
15. Key Issues/Market Feedback
Product Shelf Life
Exporters should ensure that products have a longer ‘sell by’
date for distant destinations; taking into account time
required to go through the distribution channel before
reaching the final consumer.
Often when products arrive, they are already close to the sell
by date, and some end up having to be dumped
16. Key Issues/Market Feedback
Marketing & Promotions
Limited in-market support
Exporters keen on getting goods to market but thereafter fail to
promote in market.
Distributors need support from exporters to promote goods in
market.
Buyers sometimes not familiar with products and therefore
exporters need to work more closely with them in promoting to
consumers.
17. Key Issues/Market Feedback
Capitalise on the Strength of Brand Jamaica
Authentic Jamaican products should boldly proclaim
‘Made in Jamaica’ on the packaging.
While it is important to highlight own brand,
remember Jamaica sells!
18. VIRTUAL BUSINESS GENERATION
(a) Is your business a needle in a haystack?
(b)Do you always want to have sales opportunities at
your fingertips?
If you answered “YES” to (a) & (b) then perhaps (c ) is
the solution:
(c ) Digital Transformation…..
20. VIRTUAL BUSINESS GENERATION
Answer:
• Facebook, Twitter and LinkedIn are all
social networks which allow people to
identify and contact both leads and
customers.
• Alibaba and Ebay are virtual
marketplaces which bring together large
numbers of buyers and sellers.
21. VIRTUAL BUSINESS GENERATION
Jump On the Innovation bandwagon- surveys
are showing that companies (Digirati) who
adopt new technologies like internet based
business generation tools( matchmaking
software; Online directories; Online
marketplaces; Mobile marketplaces etc.)
outperform their competitors in areas
including market share, revenue creation and
profits.
22. JAMPRO’s
Export & Market Development Services
• Business Information
– Secure vital business information and learn about
export procedures
• Business Linkages
– Identify business linkage opportunities and generate
local supply contracts
• Market Development
– Identify export opportunities and access markets for
your products
23. Market Penetration Initiatives
JAMPRO provides you with opportunities to place your
products in front of buyers through:
– International Trade shows
– Inward Buyer Missions
– Outward Trade Missions to target markets
– Business Matchmaking
– Buyer Recruitment for Expo Jamaica
24. In Summary:
Are You Ready to Export?
EXPORT READINESS CHECKLIST
1.Why do you wish to export?
□ Increase sales
□ Expanding market capacity
□ Better utilization of personnel
□ Extend life of the product/service
□ Decreasing dependence on single
market, traditional markets
□ Greater opportunities
□ Better utilization of idle plant
capacity
□ Decreasing Jamaican sales
□ Other
25. Are You Ready to Export?
*The areas below represent conditions that should exist within
your company enabling you to become a successful exporter.
How does your company rate?
On a scale of 1 to 4, rate your company: 1=definitely no, 4=definitely yes:
Strong management team
□ Well established domestic market
□ Sufficient plan capacity/personnel to meet increased demand
□ Product/service can be modified to meet the needs of foreign
markets/customers
□ Willing to accept lower profit margin, at least initially, to establish a market
presence
□ Prepared to provide effective, efficient after-sales service
26. Are You Ready to Export?
How does your company rate?(1)
On a scale of 1 to 4, rate your company: 1=definitely no, 4=definitely yes:
□ Revenues are growing
□ Well thought out realistic business and marketing strategies – in writing
□ Are prepared and able to compete with foreign products/services in terms
of quality/price
□ Management is willing and able to make a tangible commitment to pursue
export markets; dedicating time, personnel and funds for that
□ Willing to consider joint ventures, technology transfers or strategic alliances
27. Are You Ready to Export?
EXPORT READINESS CHECKLIST (Contd.)
How does your company rate? (2)
□ Revenues are growing
□ Well thought out realistic business and marketing strategies – in writing
□ Are prepared and able to compete with foreign products/services in terms of
quality/price
□ Management is willing and able to make a tangible commitment to pursue export
markets; dedicating time, personnel and funds for that
□ Willing to consider joint ventures, technology transfers or strategic alliances
*The above areas represent conditions that should exist within your company
enabling you to become a successful exporter.
28. Are You Ready for Export?
EXPORT READINESS CHECKLIST (Contd.)
3. Background Information
Have you checked into the following? Answer YES/ NO
a) Identified and researched target market(s)
b) Decided on methods of marketing
c) Tariffs/duties for each product in each target market
d) Transportation routes /distribution channels
e) Packaging
f) Pricing
g) Financing (e.g. Exim Bank)
29. Are You Ready for Export?
EXPORT READINESS CHECKLIST (Contd.)
4. Pitfalls of exporting
□ Inadequate market research
□ Bad timing
□ Poor planning
□ Company profits are in the red
□ Other
30. So- Are You Ready for Export?
IF YES get on board the Export train!
JAMPRO -Working for Jamaica; working for you
www.tradeandinvestjamaica.org
E: info@jamprocorp.com
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