The document provides guidance on exporting products internationally. It discusses selecting a product for export, identifying market niches, creating company and product fact sheets, packaging and labeling, trade shows, and follow up. Key points covered include determining if you have the capacity and resources to service export markets, understanding what drives consumer demand in a niche, using fact sheets to build buyer confidence, using photos and following market leaders for packaging, researching trade shows to find the right attendees, and following up within two weeks of a show.
Calvert Markham, writer and acknowledged expert on the consultancy profession, talks to the Institute of Consulting about the challenges the consulting industry is facing.
This document discusses several male grooming brands and products, including Old Spice, Mr Natty, L'Oreal Men Expert, Hackett, Fish Soho, and Lynx. Key points about each brand are provided, such as target demographics, marketing approaches, and product lines. The document also evaluates several examples of point of sale displays found in stores, analyzing positive and negative aspects of each. These analyses will inform the design of a point of sale unit for Mr Natty, focusing on logical elements like usability, visual appeal to draw customers, and accessibility of the product while avoiding illogical aspects like too much text or an unclear brand representation.
This presentation explores branding from the viewpoint of social media. The scenario is how to document a social media strategy that encapsulates branding strategy and content marketing.
SEO involves optimizing a website to rank higher organically in search engines through on-page and off-page factors over the long term. PPC allows instant traffic through paid search ads but costs money per click. While SEO has no guarantees and takes more time and effort, it can provide higher trust and conversion rates in the long run compared to PPC which is easier to implement and track but costs money with no guarantees.
This document discusses branding a business. It covers defining a brand strategy, crafting strong branding elements like logos and messaging, and developing an internal brand culture. The presentation provides templates and examples to help attendees brand their own businesses. Attendees will learn how well-defined branding can help businesses grow by differentiating them and attracting customers and employees.
Low Budget BRAND VISIBILITY IDEAS for Small businesses newTolu Adebayo
The document provides several low-budget branding and visibility ideas for small businesses. It discusses the importance of branding and selecting a memorable name. It then gives examples of affordable branding tactics such as making business cards, advertising on vehicles or public transportation, using social media, participating in online forums, and giving small branded gifts. Regularly promoting a brand in these ways can increase brand recognition, preference, insistence, and advocacy over time. The key message is that small businesses should focus on branding and visibility strategies that help potential customers learn about and remember their products or services.
1) The document discusses the importance of differentiation in business as competition increases and choice becomes overwhelming for consumers.
2) It provides various strategies for differentiation, including attribute ownership, leadership, heritage, specialty, preference, how a product is made, being first or latest, and cultivating a perception of "hotness."
3) Maintaining differentiation over time requires focus, consistency, avoiding distractions from growth, and sacrifice—with the business owner ultimately responsible for defining and upholding the company's point of difference.
Calvert Markham, writer and acknowledged expert on the consultancy profession, talks to the Institute of Consulting about the challenges the consulting industry is facing.
This document discusses several male grooming brands and products, including Old Spice, Mr Natty, L'Oreal Men Expert, Hackett, Fish Soho, and Lynx. Key points about each brand are provided, such as target demographics, marketing approaches, and product lines. The document also evaluates several examples of point of sale displays found in stores, analyzing positive and negative aspects of each. These analyses will inform the design of a point of sale unit for Mr Natty, focusing on logical elements like usability, visual appeal to draw customers, and accessibility of the product while avoiding illogical aspects like too much text or an unclear brand representation.
This presentation explores branding from the viewpoint of social media. The scenario is how to document a social media strategy that encapsulates branding strategy and content marketing.
SEO involves optimizing a website to rank higher organically in search engines through on-page and off-page factors over the long term. PPC allows instant traffic through paid search ads but costs money per click. While SEO has no guarantees and takes more time and effort, it can provide higher trust and conversion rates in the long run compared to PPC which is easier to implement and track but costs money with no guarantees.
This document discusses branding a business. It covers defining a brand strategy, crafting strong branding elements like logos and messaging, and developing an internal brand culture. The presentation provides templates and examples to help attendees brand their own businesses. Attendees will learn how well-defined branding can help businesses grow by differentiating them and attracting customers and employees.
Low Budget BRAND VISIBILITY IDEAS for Small businesses newTolu Adebayo
The document provides several low-budget branding and visibility ideas for small businesses. It discusses the importance of branding and selecting a memorable name. It then gives examples of affordable branding tactics such as making business cards, advertising on vehicles or public transportation, using social media, participating in online forums, and giving small branded gifts. Regularly promoting a brand in these ways can increase brand recognition, preference, insistence, and advocacy over time. The key message is that small businesses should focus on branding and visibility strategies that help potential customers learn about and remember their products or services.
1) The document discusses the importance of differentiation in business as competition increases and choice becomes overwhelming for consumers.
2) It provides various strategies for differentiation, including attribute ownership, leadership, heritage, specialty, preference, how a product is made, being first or latest, and cultivating a perception of "hotness."
3) Maintaining differentiation over time requires focus, consistency, avoiding distractions from growth, and sacrifice—with the business owner ultimately responsible for defining and upholding the company's point of difference.
The document discusses the importance of business planning and outlines various components that should be included in a business plan. Key points include that a business plan describes the business, its objectives, strategies, market, and financial forecasts. It explains that business planning helps identify potential issues, structure finances, focus development efforts, and measure success. The document also provides details on common sections in a business plan like executive summary, products/services, marketing, operations, management, and financial plan.
Branding and communications workshop 2012Anna Quintero
The document provides an agenda for a branding and communications workshop held by Androidzoom on April 20th, 2012. The workshop covers topics such as marketing fundamentals, branding, positioning, and developing a communications plan. It includes 3 exercises for participants to apply the concepts discussed. The purpose is to provide theoretical communications concepts to help the content team enhance Androidzoom's growth. The expected outcomes are to review Androidzoom's brand positioning and create 2 communications plans for strategic customer segments. Success will be achieved if the team leaves with new tools to immediately apply in their communications work.
The document shows John Wieschhaus' resume, portfolio of work samples and client list. It promotes his graphic design agency, Wish Creative, which provides branding and marketing services for various industries.
The document discusses the principles and techniques of visual merchandising and window displays. It emphasizes that visual merchandising is important for attracting customers and influencing purchases. Key techniques discussed include creating themes, coordinating colors, blocking products by style, using lighting and props effectively, and maintaining good store layout and signage. The goal is to present products in an attractive and organized way that guides customers and sells merchandise quickly.
Survival of the Fittest Booth Camp 2.10.11EXHIB-IT!
The document provides guidance on maximizing effectiveness at trade shows and exhibitions. It discusses several key areas: selecting the right shows based on objectives and target audiences; managing costs through budgeting and staff selection; promoting the event in advance; engaging attendees in the booth through activities, games and giveaways; qualifying leads; and following up after the show. The overall message is that success requires properly addressing all phases from pre-show planning to post-show follow up.
The staff training manual provides guidance on basic visual merchandising techniques. It covers topics like color coding merchandise, proper vertical placement from top to bottom shelves, using sight lines and visual breaks to guide customers, and seasonal plan-o-grams for displaying products. Nesting tables at store entrances should showcase the latest seasonal items with good housekeeping and product information.
The document provides demographic information about Gap Adventures travelers. Some key points:
- The largest percentages of travelers are from North America (32%) and Western Europe (18-20%).
- 61% of travelers are female and 49% travel to South America.
- The most popular service level is Standard at 59% and the most common trip types are multi-country tours.
This document discusses developing a unique selling point (USP) for a business. A USP defines a business's unique position in the marketplace and allows it to stand out from competitors by catering to an ideal customer group. It is important for businesses to have a USP to assist customers in distinguishing their offering from other options. The document provides tips for developing a USP, such as understanding customer values, appealing to an ideal customer, incorporating personality, and ensuring the USP is memorable, deliverable, and unique. Regular evaluation of marketing activities against the USP is also recommended.
This document provides guidelines for developing an effective brand positioning strategy. It discusses how brand positioning needs to evolve over different phases of a product's lifecycle. A strong brand framework is important to ensure consistency across all customer touchpoints. Great brands offer rational, emotional, and personality benefits that create loyal relationships. The approach involves collaborative research to uncover insights, develop ideas and directions. Stimulus like ads and packaging are tested to determine the positioning. The outcome defines the brand differentiators, personality, and executional guidance so the brand strategy can be successfully implemented. An example case study shows how this process helped develop a new consumer brand for a bakery supplying retailers.
The document provides tips on personal branding and marketing. It advises defining your personal brand by identifying your strengths, passions, attributes, and legacy. It also recommends developing a brand action plan that includes communicating your brand authentically through your actions and online presence, with a focus on social media. The goal is to show up as an expert in your brand daily in order to grow your business and career opportunities.
The Strategic Designer Brand Strategy Development Workshopdbholston
This workshop takes participants through a nine phase brand development process including discovering the organizations image, the brand vision, the brand perception, brand promise, the brand audience, positioning and brand ROI, brand creative development and communicating the brand to constituents.
Refine your organizations positioning
Learn the methodology for developing a strategic branding
Link your organizations goals to its behaviors
Align stakeholders and build internal support for the brand
This document discusses an alternative to traditional advertising called Communication Through Product (CTP). It proposes that companies invest marketing budgets in product design and innovation rather than advertising, allowing the product to communicate the brand through its attributes. CTP is presented as a more credible "pull" strategy that satisfies consumer demands for relevant information. Examples are given of companies that achieved success by focusing on distinctive product design. Guidelines for CTP include precise market research, investing in designers, developing a coherent brand identity, and improving the unique selling propositions of products.
Here are some key points from your research plan:
- Conducting a questionnaire will help you understand your target audience's wants and needs to ensure your branding and POS unit will appeal to them and drive sales.
- An environmental snapshot of where the unit will be placed will help determine if your initial design ideas and materials will be suitable for that environment.
- Analyzing existing POS units using ACCESS FM will help identify strengths/weaknesses to differentiate your design.
- Market research on current best-selling products can highlight trends to consider incorporating.
- Examining competitive products' successes and opportunities for improvement will inform features to include.
- A mood board incorporating Lynx's branding themes of bold colors and
Paul Shoker discusses key aspects of sales in 4 stages: [1] commodity products, [2] moving up the value chain, [3] further up the value chain, and [4] enterprise-level B2B sales. The relationship with customers progresses from casual to symbiotic. Value delivered ranges from product options to strategic decision making. Successful sales professionals have confidence, know their offerings well, and are flexible and hungry to exceed goals. They also use consultative approaches over common sales cycles.
The document discusses various aspects of creative planning and strategy development for advertising. It covers the importance of creativity in advertising, how to plan creative strategies by considering different perspectives, the creative process models, inputs that fuel creativity, developing major selling ideas, and using techniques like unique selling propositions and positioning to craft advertising campaigns. It also provides examples of famous advertising slogans and discusses finding inherent drama and creating brand images through creative strategies.
The aim of this module is to emphasise the importance of marketing in relation to your business idea. In regards to marketing this course looks at; what is marketing, the four P's of marketing and also it explores the idea of marketing through social media and how to ensure you are maximising its effectiveness.
Translating product features into brand valuesSunil Ramkali
Brand communications and marketing are based upon the right mix of rational and emotional brand drivers. This presentation looks at how a brand and product differ, and how we can we develop more emotionally based communications.
The document provides guidance on how to write effective marketing copy. It discusses conducting research to deeply understand prospective customers, including their behaviors online and the problems they face. The presentation emphasizes listening to customers, creating relevant content for interested communities, discussing the content to generate engagement, promoting content respectfully through social networks, and measuring the results of engagement efforts. It also recommends auditing the benefits of what is being sold and analyzing those benefits to identify advantages, motivations, and favorable experiences customers will gain.
British Jewellers' Association, "Growing your Business" seminar 25/07/2013The_BJA
The BJA recently held a “Growing Your Business” seminar at its Vyse Street offices that was open to both members and non members. Aimed to cover a wide range of topics all with the purpose of providing useful and practical business advice, the event attracted over 40 guests, who listened to presentations from a variety of jewellery industry stalwarts and industry experts.
The document discusses the importance of business planning and outlines various components that should be included in a business plan. Key points include that a business plan describes the business, its objectives, strategies, market, and financial forecasts. It explains that business planning helps identify potential issues, structure finances, focus development efforts, and measure success. The document also provides details on common sections in a business plan like executive summary, products/services, marketing, operations, management, and financial plan.
Branding and communications workshop 2012Anna Quintero
The document provides an agenda for a branding and communications workshop held by Androidzoom on April 20th, 2012. The workshop covers topics such as marketing fundamentals, branding, positioning, and developing a communications plan. It includes 3 exercises for participants to apply the concepts discussed. The purpose is to provide theoretical communications concepts to help the content team enhance Androidzoom's growth. The expected outcomes are to review Androidzoom's brand positioning and create 2 communications plans for strategic customer segments. Success will be achieved if the team leaves with new tools to immediately apply in their communications work.
The document shows John Wieschhaus' resume, portfolio of work samples and client list. It promotes his graphic design agency, Wish Creative, which provides branding and marketing services for various industries.
The document discusses the principles and techniques of visual merchandising and window displays. It emphasizes that visual merchandising is important for attracting customers and influencing purchases. Key techniques discussed include creating themes, coordinating colors, blocking products by style, using lighting and props effectively, and maintaining good store layout and signage. The goal is to present products in an attractive and organized way that guides customers and sells merchandise quickly.
Survival of the Fittest Booth Camp 2.10.11EXHIB-IT!
The document provides guidance on maximizing effectiveness at trade shows and exhibitions. It discusses several key areas: selecting the right shows based on objectives and target audiences; managing costs through budgeting and staff selection; promoting the event in advance; engaging attendees in the booth through activities, games and giveaways; qualifying leads; and following up after the show. The overall message is that success requires properly addressing all phases from pre-show planning to post-show follow up.
The staff training manual provides guidance on basic visual merchandising techniques. It covers topics like color coding merchandise, proper vertical placement from top to bottom shelves, using sight lines and visual breaks to guide customers, and seasonal plan-o-grams for displaying products. Nesting tables at store entrances should showcase the latest seasonal items with good housekeeping and product information.
The document provides demographic information about Gap Adventures travelers. Some key points:
- The largest percentages of travelers are from North America (32%) and Western Europe (18-20%).
- 61% of travelers are female and 49% travel to South America.
- The most popular service level is Standard at 59% and the most common trip types are multi-country tours.
This document discusses developing a unique selling point (USP) for a business. A USP defines a business's unique position in the marketplace and allows it to stand out from competitors by catering to an ideal customer group. It is important for businesses to have a USP to assist customers in distinguishing their offering from other options. The document provides tips for developing a USP, such as understanding customer values, appealing to an ideal customer, incorporating personality, and ensuring the USP is memorable, deliverable, and unique. Regular evaluation of marketing activities against the USP is also recommended.
This document provides guidelines for developing an effective brand positioning strategy. It discusses how brand positioning needs to evolve over different phases of a product's lifecycle. A strong brand framework is important to ensure consistency across all customer touchpoints. Great brands offer rational, emotional, and personality benefits that create loyal relationships. The approach involves collaborative research to uncover insights, develop ideas and directions. Stimulus like ads and packaging are tested to determine the positioning. The outcome defines the brand differentiators, personality, and executional guidance so the brand strategy can be successfully implemented. An example case study shows how this process helped develop a new consumer brand for a bakery supplying retailers.
The document provides tips on personal branding and marketing. It advises defining your personal brand by identifying your strengths, passions, attributes, and legacy. It also recommends developing a brand action plan that includes communicating your brand authentically through your actions and online presence, with a focus on social media. The goal is to show up as an expert in your brand daily in order to grow your business and career opportunities.
The Strategic Designer Brand Strategy Development Workshopdbholston
This workshop takes participants through a nine phase brand development process including discovering the organizations image, the brand vision, the brand perception, brand promise, the brand audience, positioning and brand ROI, brand creative development and communicating the brand to constituents.
Refine your organizations positioning
Learn the methodology for developing a strategic branding
Link your organizations goals to its behaviors
Align stakeholders and build internal support for the brand
This document discusses an alternative to traditional advertising called Communication Through Product (CTP). It proposes that companies invest marketing budgets in product design and innovation rather than advertising, allowing the product to communicate the brand through its attributes. CTP is presented as a more credible "pull" strategy that satisfies consumer demands for relevant information. Examples are given of companies that achieved success by focusing on distinctive product design. Guidelines for CTP include precise market research, investing in designers, developing a coherent brand identity, and improving the unique selling propositions of products.
Here are some key points from your research plan:
- Conducting a questionnaire will help you understand your target audience's wants and needs to ensure your branding and POS unit will appeal to them and drive sales.
- An environmental snapshot of where the unit will be placed will help determine if your initial design ideas and materials will be suitable for that environment.
- Analyzing existing POS units using ACCESS FM will help identify strengths/weaknesses to differentiate your design.
- Market research on current best-selling products can highlight trends to consider incorporating.
- Examining competitive products' successes and opportunities for improvement will inform features to include.
- A mood board incorporating Lynx's branding themes of bold colors and
Paul Shoker discusses key aspects of sales in 4 stages: [1] commodity products, [2] moving up the value chain, [3] further up the value chain, and [4] enterprise-level B2B sales. The relationship with customers progresses from casual to symbiotic. Value delivered ranges from product options to strategic decision making. Successful sales professionals have confidence, know their offerings well, and are flexible and hungry to exceed goals. They also use consultative approaches over common sales cycles.
The document discusses various aspects of creative planning and strategy development for advertising. It covers the importance of creativity in advertising, how to plan creative strategies by considering different perspectives, the creative process models, inputs that fuel creativity, developing major selling ideas, and using techniques like unique selling propositions and positioning to craft advertising campaigns. It also provides examples of famous advertising slogans and discusses finding inherent drama and creating brand images through creative strategies.
The aim of this module is to emphasise the importance of marketing in relation to your business idea. In regards to marketing this course looks at; what is marketing, the four P's of marketing and also it explores the idea of marketing through social media and how to ensure you are maximising its effectiveness.
Translating product features into brand valuesSunil Ramkali
Brand communications and marketing are based upon the right mix of rational and emotional brand drivers. This presentation looks at how a brand and product differ, and how we can we develop more emotionally based communications.
The document provides guidance on how to write effective marketing copy. It discusses conducting research to deeply understand prospective customers, including their behaviors online and the problems they face. The presentation emphasizes listening to customers, creating relevant content for interested communities, discussing the content to generate engagement, promoting content respectfully through social networks, and measuring the results of engagement efforts. It also recommends auditing the benefits of what is being sold and analyzing those benefits to identify advantages, motivations, and favorable experiences customers will gain.
British Jewellers' Association, "Growing your Business" seminar 25/07/2013The_BJA
The BJA recently held a “Growing Your Business” seminar at its Vyse Street offices that was open to both members and non members. Aimed to cover a wide range of topics all with the purpose of providing useful and practical business advice, the event attracted over 40 guests, who listened to presentations from a variety of jewellery industry stalwarts and industry experts.
Empowerment through Enterprise - sales and marketing, the engine and the energycaniceconsulting
This document provides guidance on branding and marketing for small businesses. It discusses developing a brand story and defining the target market. Key aspects of branding covered include coming up with a name, choosing colors, building credibility, and creating consistent branding across all marketing materials. The document also distinguishes between marketing and sales, emphasizing that marketing is long-term relationship building while sales focuses on individual transactions. It provides tips on digital marketing tools like websites, social media, and email marketing to promote small businesses.
The document provides guidance on strengthening sales presentations through the use of verbal and visual tools. It discusses how to use word pictures, stories, humor, charts, models, brochures, testimonials and more to improve buyer understanding, retention and sense of value. Tips are provided for various visual aids and demonstrations to keep the buyer engaged and help prove claims. The goal is to use multimedia tools strategically to best address buyer needs and reinforce the core message.
The document discusses new ways of thinking about catalogs and engaging customers. It argues that catalogs should be seen not just as transactional tools but also ways to engage customers and build relationships. It provides examples of how to make catalogs more engaging, such as including digital calls-to-action, surprising customers to generate excitement, and supporting online activities. It also stresses the importance of doing something different with catalogs to stand out and capturing attention with covers, imagery, copy, and themes.
Presentation presented by Hany Sewilam AbdelHamid @Dubai Media City - Arab Business Conference - August 2017 about the marketing communication mix between the USP & 4Ps
The document provides an outline for a presentation on branding and advertising. It discusses product branding, building a brand, packaging and design, the role of consumer behavior, quality of service, market positioning, flexibility in branding strategy, internal marketing, communications, and the concept of a promotional mix. It also covers topics like advertising to consumers and businesses, different advertising media, and how packaging can protect, promote, provide value, and preserve products.
Here is a sample buyer persona for Susan, the head of HR at a mid-sized company:
Name: Susan
Role: Head of Human Resources
Company Size: 150 employees
Background:
- Has worked in HR for 15 years, starting as an HR Associate and working her way up to Head of HR
- Enjoys the challenges of managing people processes but also feels pressure to contain costs
Goals:
- Retain top talent to minimize turnover and maximize productivity
- Reduce healthcare costs and choose the most cost-effective benefits package
- Stay up-to-date on HR best practices and legislation
Challenges:
- Budget constraints limit benefits offerings and training programs
- Employees want
This document outlines a marketing development proposal for a luxury brand called "On the Fly". It analyzes the current state of the luxury market and the brand's marketing efforts. It then provides recommendations in four areas - client outreach, publicity, in-store experiences, and online efforts. The proposal aims to increase traffic, sales and market share through targeted advertising, unique content, brand partnerships, in-store events, and social media. It concludes by offering to develop a specific marketing plan for 2012 and establish an ongoing working relationship.
Creativity in advertising fulfills psychological and marketing needs by adding new perceptions and enjoyment of products. Creative ads that dramatically show how a product meets needs are most effective if they motivate consumer action. Creative ads are memorable, impress customers, increase likeability, and often don't cost more than dull ads. The advantages of creative ads include increasing sales, saving customer time, preventing lost sales to competitors, introducing new products, creating artificial demand, informing consumers, and providing employment. Effective creative ads use surprise to stand out.
Define Your WoW! Factor – Create an Unforgettable BrandVerticalResponse
A strong identity helps make your business memorable for customers and prospects and stand out amongst other competitors. But branding is more than just shiny logos and punchy mottos. It’s about developing an essence and helping customers see themselves as ‘belonging to’ your brand. Learn how to refresh your brand and how to keep it consistent across different sites.
This webinar will cover several different key elements of strong branding, including:
-The Brand Wheel
-Integrated messaging across platforms
-Creating solid logo identity
30 things 6/7 - MARKETING /SELLING - 30 things that I learned from my start...Suhas Dutta
This document provides marketing and selling advice from the author's startup experience. It discusses that marketing is about storytelling to create an emotional connection. Marketing efforts must be continual and planning is important. Word of mouth is the most powerful marketing. Selling involves converting potential customers through compelling pitches and closing sales. The appendix provides additional resources on topics like trust-based selling, marketing simulations, and dismantling sales machines.
Business Model Canvas and How to validate the ideaardiansarach
The document provides guidance on conducting market validation for a new business idea or product. It outlines key steps, including writing goals and assumptions, assessing market size and share, conducting customer interviews, testing the product or service, understanding competitors, and pitching the idea concisely. The validation process helps determine if there is real customer need and evaluates factors critical for business success, such as differentiation from competitors and monetization strategy. User testing and feedback are emphasized to refine the product-market fit before full launch.
Trade Show Guide - How to make the most out of your trade show dollarsAdriana Serna
This document provides guidance on maximizing ROI from trade show participation. It recommends starting by defining clear objectives for attending an event. Key selection criteria for choosing an appropriate event include industry relevance, attendee quality, and regional focus. The document outlines strategies for participating as an attendee, exhibitor, or sponsor and highlights associated benefits. It also provides examples of metrics to track, such as impressions, leads, and sales, in order to evaluate an event's effectiveness. Finally, it offers best practices for pre-show preparations, engagement at the event, and follow-up activities to help convert leads into sales.
The photography business is being over-crowded with new entrants every day. How can you stand out as a photographer, get new clients, more referrals on a tight budget. This presentation outlines the basics of online and offline marketing to help drive your network of influence
The document provides guidance on assessing promotional materials using the AIDA framework. It explains the four components of AIDA - Attention, Interest, Desire, and Action. For each component, it gives examples of how organizations can apply that principle in their promotional materials. It instructs students to collect materials from one travel or tourism provider and comment on how well the provider uses AIDA and other design principles to appeal to customers. Students are encouraged to visit organizations in person to collect a variety of physical materials beyond just online resources.
The document summarizes the products, services, and roles of the Bank of Industry (BOI) in Nigeria. BOI provides financing and business support services to entrepreneurs, especially small and medium enterprises. It offers various financing products including equity financing, co-financing, and infrastructure development. BOI also works to establish global partnerships and structures financial partnerships between Nigerian and foreign companies to support industrialization. Additionally, BOI aims to increase access to financing for women entrepreneurs and micro, small, and medium enterprises through specialized loan schemes and programs.
The Nigerian Export-Import Bank (NEXIM) presented on the financial support options it provides for Shea product manufacturers, producers, and traders. NEXIM aims to diversify Nigeria's economy beyond oil and support the growth of the Shea industry. It offers various loan facilities that provide working capital and finance imports/exports along the Shea value chain. NEXIM also partners with other organizations and countries to facilitate technology transfers and equipment acquisition for Shea processors. The bank welcomes applications from companies operating in the Shea sector.
Root Capital's mission is to invest in agricultural businesses in Africa and Latin America to grow rural prosperity and sustainable livelihoods. They focus on the "rural missing middle" - agricultural small and medium enterprises that are too large for microfinance but have trouble accessing credit. Their three-pronged strategy includes lending to cooperatives and small/medium agricultural businesses, building their capacity, and developing strategic partnerships. Their lending has grown annually since 2007 in Africa to strengthen food security and nutrition by financing businesses along agricultural value chains.
The USAID West Africa Trade Hub works in 21 countries in West Africa to promote regional trade and economic integration. It has offices in Accra, Dakar, and Arlington and aims to connect smallholder farmers and women producers to markets through a value chain approach. By addressing issues like access to finance, transportation, and quality standards, the Trade Hub works to professionalize industries and create jobs. For example, it partners with banks and investors to develop innovative financing for shea nut exporters and other small businesses in order to lift incomes in a sustainable way.
This document summarizes a presentation about leveraging social media to build brands. It discusses the benefits of social media for marketing, including increased exposure and insights. It provides tips for learning social media, finding an authentic voice, selecting the right platforms, getting started, and maximizing efforts. Marketers are advised to strategically use social media to meet clear goals and adapt their approach over time to best leverage their brand. Questions are welcomed.
This document discusses different propagation methods for shea (Vitellaria paradoxa), including propagation by seed, air layering, and grafting.
Propagation by seed involves collecting seeds from mature trees and either planting them directly or after a pre-germination period. Air layering is done by girdling, wrapping, and allowing a branch to root before removing it from the tree. Grafting involves joining a scion from a mature tree to a rootstock to reduce the tree's maturity period. Both top grafting and side grafting techniques are used. Success rates for air layering and grafting of shea can be up to 65% and 80%, respectively. Proper timing, materials
The Global Shea Alliance (GSA) operational plan outlines four strategic initiatives from 2012-2014 to achieve its mission of driving a sustainable shea industry worldwide. The initiatives are: 1) sustainability promotion to define GSA membership criteria and marketing seals, 2) quality standards and pricing to establish standards and publish price data, 3) industry promotion through marketing and an annual conference, and 4) national association support in key countries. The plan aims to expand markets, increase competitiveness and sustainability impact through collaboration between GSA members and partners.
The document outlines a strategic and operational plan for the Global Shea Alliance (GSA) with the goal of implementing four key initiatives to achieve maximum impact related to GSA's strategic objectives of market expansion, competitiveness, policy advocacy, and sustainability. The four initiatives include: 1) sustainability promotion to define GSA as driving sustainability and market expansion, 2) establishing quality standards and pricing transparency, 3) industry promotion through marketing and communications, and 4) supporting national shea associations. The plan provides detailed activities, timelines, and anticipated impacts for each initiative through 2014.
This document is an African standard for shea kernel. It establishes requirements, sampling and test methods for shea kernels. The standard specifies quality grades and tolerance limits for moisture content, impurities, and damaged kernels for shea kernels intended for further processing or direct consumption.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
The document summarizes the accomplishments of the Global Shea Alliance in 2012. It discusses accomplishments related to supporting national shea associations through training programs, developing sustainability standards and engagement with members, promoting the shea industry internationally through conferences and online, and beginning work to establish quality standards for shea nuts. The goals for 2013 include expanding quality campaigns, providing technical support to associations, refining sustainability standards, promoting shea to consumers and brands, and establishing agreed upon quality standards.
This document provides an introduction to emulsions, which are mixtures of two immiscible liquids like oil and water. It outlines the basic phases needed to create an emulsion, including water, oil, emulsifiers, thickeners, and preservatives. Specific ingredients and tools are recommended for each phase. Proper pH levels and buffers are also discussed. The document emphasizes using broad spectrum preservatives to prevent bacteria, yeast, and mold growth, especially in tropical environments. Ingredients should be listed on labels according to INCI standards.
This document provides an introduction and contents for an Entrepreneurship 101 and Export 101 training guide. The guide aims to help participants analyze business practices, identify skills needed for entrepreneurial and export success, understand risk assessment and customer relationships, and develop company and product profiles. The training consists of modules on entrepreneurship and export management that cover topics such as defining entrepreneurs, assessing strengths and weaknesses, selecting export products, and understanding international trade basics. Participants are given assignments to complete a company profile and markets document to develop an export business plan.
The instructor introduces themselves as Jim and Jennifer Krigbaum, founders of 2020 Development Company LLC. The workshop will cover 10 keys to success in international business and help participants analyze their skills, identify their business, and understand what makes an entrepreneur. Participants will complete exercises to assess their current business practices and competitive advantages. The presentation emphasizes the importance of communication, honesty, quality, risk assessment, networking, and other skills for entrepreneurs to achieve success.
The document summarizes the products, services, and roles of the Bank of Industry (BOI) in Nigeria. BOI was established in 2001 to promote industrial development in Nigeria by providing financing and business support services. It offers a range of financial products including loans, equity financing, and infrastructure development. BOI also engages in policy work, partnerships with other development organizations, and programs to support small businesses and women entrepreneurs. Its goal is to transform Nigeria's industrial sector and integrate it into the global economy.
Root Capital's mission is to invest in agricultural businesses in Africa and Latin America to grow rural prosperity and sustainable livelihoods. It addresses the capital constraints on African agriculture through a three-pronged strategy of lending to cooperatives, outgrowers, and small and medium agri-businesses. Its annual lending in Africa has grown significantly between 2007-2012, and it has expanded into financing staple crop and input value chains to deepen its impact on smallholder farmers, agricultural SMEs, and low-income food consumers.
This document discusses five key facts about promoting the sustainability of shea production:
1. Reliability, availability, and quality are the top priorities for US and EU buyers, who want documentation like certificates of analysis and batch samples even before receiving a product sample.
2. Close partnering between producers and distributors offers advantages for both sides.
3. Authentic stories about social good and impact can enhance marketing, but must come after establishing good, functional products.
4. Consumers are often confused by the many different sustainability seals in the market and rarely want to pay more for sustainability alone.
5. The best way forward is through collaboration between organizations on marketing, export packaging
The document summarizes a gap analysis conducted by USAID's West Africa Trade Hub to identify implementation gaps in the ECOWAS Free Trade Area (ETLS). Key findings were limited knowledge of customs procedures, unofficial fees at borders, non-tariff barriers, and differing transport regulations. To address these gaps, the Trade Hub established pilot Border Information Centers in Ghana and Togo to disseminate trade information, provide support to traders, and facilitate feedback between public and private sectors. Additional recommendations include establishing express lanes to expedite clearance of non-dutiable goods like perishables.
This document provides instructions for making handmade soap. It begins with definitions of soap and explains that soap is made through a chemical reaction between fatty acids (oils) and salts (lye). It then discusses why people make handmade soap and the benefits of using handmade soap over commercial soaps. The document provides extensive details on safety practices when working with lye and guidelines for choosing ingredients, calculating recipes, and preparing to make soap. It includes tables listing properties of common soap making oils and provides a sample recipe calculation.
The document provides extensive guidance on safely making soap at home. It discusses choosing a well-ventilated work area, wearing protective equipment like gloves and masks when handling lye, carefully weighing and mixing ingredients, and allowing the finished soap to fully cure for 4 weeks before use. Key steps include slowly mixing lye with water, blending oils and lye mixture until trace, pouring the soap into molds, and cutting bars after 24 hours to finish and cure over subsequent weeks.
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The Most Inspiring Entrepreneurs to Follow in 2024.pdfthesiliconleaders
In a world where the potential of youth innovation remains vastly untouched, there emerges a guiding light in the form of Norm Goldstein, the Founder and CEO of EduNetwork Partners. His dedication to this cause has earned him recognition as a Congressional Leadership Award recipient.
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During the budget session of 2024-25, the finance minister, Nirmala Sitharaman, introduced the “solar Rooftop scheme,” also known as “PM Surya Ghar Muft Bijli Yojana.” It is a subsidy offered to those who wish to put up solar panels in their homes using domestic power systems. Additionally, adopting photovoltaic technology at home allows you to lower your monthly electricity expenses. Today in this blog we will talk all about what is the PM Surya Ghar Muft Bijli Yojana. How does it work? Who is eligible for this yojana and all the other things related to this scheme?
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
Profiles of Iconic Fashion Personalities.pdfTTop Threads
The fashion industry is dynamic and ever-changing, continuously sculpted by trailblazing visionaries who challenge norms and redefine beauty. This document delves into the profiles of some of the most iconic fashion personalities whose impact has left a lasting impression on the industry. From timeless designers to modern-day influencers, each individual has uniquely woven their thread into the rich fabric of fashion history, contributing to its ongoing evolution.
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
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[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
4. Select a Product for Export
•Do you have sufficient supply to service export markets?
•Do you have sufficient capital, personnel, and resources to
handle volume?
•Are you better off selling a big volume item or a small volume
item with more profit?
5. Niche
Niche definition
A position particularly well suited to the
person/product who occupies it; “shea
butter has a good niche in the natural
cosmetic industry in California."
6. Applied to products
Most products have several possible niches in the market
– the key to maximum success is finding the niche that
provides the greatest return for the supply chain – a
“good” product in the wrong niche will be unsuccessful.
Identifying the right niche requires a full understanding of
the product including strengths and weaknesses of the
product and supply chain.
Consumer demand is what drives a product to succeed in
a niche.
7.
8.
9. Discussion
Discussion 4 what factors
What factors determine if a buyer
purchases a product at the importer level?
determine if a buyer buys?
What about the distributor level?
What determines if an end consumer
purchases your product?
10. Prepare Company Profile Sheets
Objective of the profile is to create buyer
confidence in the producer by communicating
their background, ability and resources.
Provide information about the company’s
owners and management team
11. Company Fact Sheets
Vital Information About Your Company:
Contact Information
List of Products
Company History and Philosophy
Answer the question “why in the world would
anyone buy my product over everything else that
is available?”
12. Company Fact Sheet
Value of athat the customerfact sheet
It is important company have
confidence in the company producing the
product the fact sheet helps them gain this
confidence.
It is important to provide an outline of the
companies technical abilities and resources.
It is important to provide background
information on the company owners.
14. Develop a Product Profile Sheets
What is a product profile sheet?
Why prepare it?
“Unseen is Unsold”
What elements would it need to include?
15. Product Fact Sheet
Contact Information
Common and Scientific
Names
Ingredients
Packaging Specifications
Special Certifications
Shipping conditions
16. How will these documents be used and why do
them?
Documenting information – ensuring that it is
complete and the process has been thought
through.
Marketing tool for promoting the company
You need something to leave with the
customer – either in person or e-mail.
20. Find out how your product usually
ships
Know When to Ship Your Product So
That It Arrives in Good Condition!
21. Packaging Wisdom #2
“It doesn’t matter what you like, it matters what your
customer likes.”
•Color
•Size/Units per package
•Transportation
•Living conditions
•Shopping habits
•Cultural beliefs
22. Packaging Wisdom #3
“Follow The Market Leader”
Guerrilla Marketing:
Emulate those who have market experience.
23. Solicit Feedback from your Customers!
They Can Help By:
•Proofreading your labels
•Reviewing your grammar
•Giving feedback on your colors
•Critiquing your image
Your Customer Is The Expert!
24. Use Photos On Your Labels
The importance of Photos
• Photos can show how the product is used
• They can be understood in any culture
• They can remind customers why they want to
buy the product
• Photos create an image of value
26. What is a Tradeshow?
A tradeshow is an industry gathering
where manufacturers and producers
exhibit their products to expand
their markets.
27. Reasons for attending a show
* Identify new products and services
* Strengthen relations with existing suppliers and customers
* Identify industry players – customers, suppliers and
support industry
* Gather information for future purchasing decisions
* Review business plans with customers and suppliers
28. Reasons for participating in a show
* Find new customers and suppliers
* Launch a new product
* Strengthen brand identity
* Visit existing customers
29. How to catch a customer at a tradeshow!
This image cannot currently be displayed.
You have a choice....
• Will you cast a wide
net and see how much
you catch?
• Will you choose
your bait carefully and
attract one big fish?
30.
31. Choose a targeted tradeshow
The tradeshow doesn’t
have to be big to attract
the “Right” customer
32. Tradeshow attendants are at the
show to sell – not to buy
Therefore, it is critical that you do
your homework to arrange meetings
prior to the show!
33. Visit tradeshow websites and research
Research
who is exhibiting and who is attending.
Look for other companies in your niche
or complimentary to your niche.
Talk with people who have been to the
show in the past
34. Questions to consider before
committing to attend the show….
Questions to consider before
Who is the target audience and how do I
committing to attend a show
reach them?
Do I need to change the product, image or
position of the product to reach the target
audience?
Can I afford the time away from my regular
work to attend the show?
35. Budget for all costs of attending a tradeshow
Cost of Brochures
Samples This image cannot currently be displayed.
Follow-up Travel
Business Cards Booth Rental
36. Don’t underestimate the cost of your time
This image cannot currently be displayed.
If you were not at
the trade show,
what would you be
doing ?
Is that more
rewarding than
attending the
show?
38. Take care of details!
Make sure you and your product arrive
to the trade show on time!
Make sure the samples have all the
necessary paperwork for customs
clearance.
39. Actively promote your attendance
at the tradeshow
Announce your attendance to prospective
clients
Invite clients in the area to your booth or to
dinner
Follow-up with a call to personally invite them
to visit your booth
40. Be prepared to answer questions:
• Why should the customer buy your product over any
other in the world?
• What is the price?
• What are your payment terms?
• How quickly can you ship?
• Do you have an agent?
• What is your experience in the market?
42. To draw customers into your booth:
This image cannot currently be displayed.
Make Brochures,
Business Cards, and
Corporate Literature
Available
Give-Away Samples
or Gifts
Create a U-Shaped
Booth
43. Keep your display simple and feature your
hottest selling products This image cannot currently be displayed.
This image cannot currently be displayed.
44. Dress to Sell
• Don’t over or under
This image cannot currently be displayed.
dress your customer
• Consider dressing in
“theme” clothing
• Wear company tee-
shirts or matching
colors
45. At the Show
• Walking the Show
• Contact
• Schmooze
• Take promotional photos
• Debrief with care
46. This image cannot currently be displayed.
No Exhibit? No Problem.
• The Power of coffee
• Walk the floor
• Pick up others materials
• Check out the Media Room
• E-mail
• Send a thank-you note
• Google your competition
48. Things to consider when contacting the
potential customer
• You have a two week window to keep the relationship alive
• The first week the customer is swamped getting back to their
normal flow of business.
• When contacting the customer always send something in
writing first
• Avoid sending attachments in e-mails
• Give them time to read the document and then follow-up
with a phone call
• Always follow-through on what you say you are going to do.
• Be persistent but not a pest – walk the thin line.
• Look for other opportunities and ask if they can recommend
someone else to talk with or another company to work with.
49. Relationship management
Key points
• Listen – it is your most valuable communications tool.
Learn what the buyer wants.
• Look – when meeting with them look for signs as to
who they are. Get to know them.
50. The meeting
• Work with your target customer to arrange a
meeting. If they are not going to be at the show ask
who else you can meet with.
• Always have something to leave them. Have a
sample to show if possible and paper to leave. Send
the sample later as most people don’t want to carry
it home from the show and it will get lost.
• Know your product, its potential and your target
customers needs.
51. Monitoring the relationship
• Stay in touch. Don’t just call the people when you
need something, but don’t waist their time.
• Develop a friendship with both supplier and customer
that goes beyond the product
• Follow-up with details requested at the show. Contact
100% of the people who gave you a business card.
• Send out samples promptly
52. Back Home
• Make press book
• Send thank-you notes
• Debrief your colleagues
• Update database
• Follow-up with stragglers
• Update website
• Send samples!
53. This image cannot currently be displayed.
Sending samples
This image This image cannot currently be displayed.
cannot currently be displayed.
This image cannot currently be displayed.
59. Documentation flow export shipment
offer
• Formal offer submitted to interested customer
Proforma Invoice
• Proforma Invoice sent to customer
Purcer
• Customer opens Purchase Order – places order
hase Or
LC
• Customer opens LC
Advsesd
• LC is advised by bank to Exporter
60. offer
• LC reviewed by exporter
Proforma Invoice
• Containers or shipment space booked
Purcer
• Pre-shipment documents filed 10+2 USA
hase Or
LC
• Shipment loads on vessel – bill of lading issued
• Documents prepared and submitted to the bank
Advsesd for negotiations
61. offer
• Bank reviews documents
• Bank submits documents to issuing bank for
Proforma Invoice
payment
Purcer
• If no discrepancies payment made
hase Or
• If discrepancies either an amendment is
LC requested or an acceptance is requested
• Funds deposited into exporters account
Advsesd
62. Costing and Pricing
COSTING PRICING
• Calculating what a product • What you're willing to part
costs to produce. with a product for and what
your market is willing to pay
• As you calculate, you need for it.
to consider everything it costs
to produce THIS product. • Cost-based pricing sets the
floor; demand-based pricing
sets the ceiling
63. Export Quotation Worksheet
►Document and record how you arrived
at your offer price.
► Use the form in your notebook or develop
something computerized with a similar
function.
64. Cost of Goods for Export $3.50
Quantity 1904
Total Cost of Goods $6,664.00
Add Profit Margin 3.50 $0.53 $1009.12
x .15 = .525
Inland Freight to Port or Airport $0.21 $400.00
Consular Legalization Fees $0.01 $25.00
Inspection Fees/Charges $0.02 $35.00
Freight Forwarding Fee $0.03 $50.00
Bank Charges $0.02 $35.00
Document courier charges $0.01 $25.00
Total Exporting Costs $0.30 $565.00
FOB Loading Port / FAS Airport $4.33 $8238.12
Total Price
Ocean Freight /Air Freight $0.63 $1200.00
CFR Unloading Port / CPT Airport $4.96 $9438.12
Total Price
Insurance Premium $0.11 $ 200.00
CIF Unload Port / CIP Airport $5.07 $9638.12
Total Price
Offer Valid Until: 11/31/02
Prepared by: Authorized by:
65. The Role of the Bank Under Letter
of Credit terms
# 1: The bank replaces the
exporters credit with theirs
thus eliminating risk to the
Bank exporter that the importer will
be insolvent at time of
shipment.
#2: The Bank guarantees the
importer that the exporter has
met the terms of the LC before
issuing payment.
66. Avoid Discrepancies in an LC
Your Documents
Must Exactly
Reflect the LC,
Even if the
Information is
Incorrect.
67. Questions to ask about an LC
Is the LC Irrevocable? Can I produce the documents?
Is the amount accurate? Can I meet the schedule?
Is the address correct? Is insurance required?
Is the description correct? Is the correct
transportation
Are the ports correct? document required?
Is transshipment allowed? Is it what I expected?
68. Documentation Terminology
Proforma Invoice - An invoice sent in advance of
shipment, to enable the buyer to obtain an import permit
or exchange permit or both. The proforma invoice gives a
close approximation of the weights, values and timing of
the intended shipment.
Commercial Invoice - A written and signed list of
merchandise and/or services with associated quantities,
prices and expenses. It contains the terms of the sale and
is prepared by the seller to show the total amount owed
by the buyer.
69. Notify - This phrase requires the carrier to notify a
designed party upon arrival of the merchandise, but
does not transfer title of the merchandise to that party.
Consignee - a person who receives goods from someone
for their own use or to sell for the sender. The
consignee is the person to whom the shipment is to be
delivered whether by land, sea or air.
70. Types of payments
Documentary Credit - A letter of credit issued to support
the movement of merchandise supported by shipping
documents presented by the beneficiary to the Issuing
Bank for payment or acceptance.
Documents Against Acceptance (D/A) - Instructions given
by a shipper to his or her acceptance bank that the
documents attached to a time draft for collection are
deliverable to the drawee/payer against his or her
acceptance of the draft.
71. Direct Collection - Method of payment for goods in which
the seller sends a draft drawn on the buyer, the shipping
documents, invoices, insurance certificates, other
appropriate documents directly to the buyer’s bank for
collection. Only an information copy of the advice is sent
to the exporter’s bank to establish and monitor the
collection transaction for the seller.
72. Negotiating Bank - The bank that reviews the
documents required in the letter of credit for compliance
with its terms and remits payment to the beneficiary.
Discrepancy - Any deviation from the terms and
conditions of a letter of credit or from the documents
presented under the letter of credit.
73. Bill of Lading (Air, Ocean, Railroad, Truck) - A document
of title issued by the carrier (transport company) or its
agent. Bill of lading is a receipt for the merchandise in
transit, as well as a contract for delivery to a specified
party at a specified destination.
Clean Bill of Lading - One in which the goods are
described as having been received by the carrier in
apparent good order and condition” and without
qualification.
74. Beneficiary - The party who receives payment as
stipulated in a letter of credit. This party is usually the
seller/exporter.
Freight Forwarder - An independent business that
arranges for the shipment of export cargo and completes
the necessary export documentation on behalf of the
exporter.
Issuing Bank - Bank that draws up and issues the letter of
credit and that makes payment according to the
conditions
Negotiate - Take action to verify that the documents
presented under an L/C conform to the requirements in
order to release funds to the seller.
75. Expiry or Expiration Date - The date on which the draft
and documents drawn under a letter of credit must be
presented to the negotiating, accepting, paying, or
issuing bank in order to effect payment. If the letter of
credit is a “negotiable credit,” the issuing bank must
honor the credit, provided the complying documents
were submitted prior to the expiry (or expiration) date.
Draft - A draft is a formal demand for payment. It is an
unconditional order in writing, addressed by one party
(drawer) to another party (drawee), requiring the
drawee to pay, at a designated or determinable future
date, a specified sum in lawful currency. In international
trade, drafts are also known as “Bills of Exchange.”
77. Letter of Credit - An instrument issued by a bank, at the
request of the applicant, promising to pay the beneficiary
upon his presentation of stipulated documents in
accordance with the terms and conditions of the credit.
Irrevocable Letter of Credit (L/C) - Letter of credit that
cannot be changed or cancelled without the consent of all
parties involved. Almost all L/Cs are irrevocable unless
otherwise stated on L/C. See also “letter of credit”.
Confirmed - A letter of credit issued by one bank to which
another bank added its irrevocable confirmation to pay,
thereby obligating itself in the same manner as the opening
bank.
78. Revocable Letter of Credit (L/C) - A letter of credit that
can be modified or canceled by the issuing bank without
the beneficiary’s consent unless the negotiation of
complying documents has already taken place. The issuing
bank must honor the draft(s) negotiated before the notice
of revocation has been made.
Red Clause - Clause in a letter of credit that authorizes
the advising/negotiating bank to make an advance
payment to the beneficiary before presentation of
shipping documents, usually against a simple receipt.
79. Transferable Letter of Credit (L/C) - Letter of credit that
permits the beneficiary to transfer all or some of the
rights and obligations under the credit to a second
beneficiary.
Standby - A letter of credit that generally guarantees
payment due for an unfulfilled obligation on the part of
the applicant or another party. It is payable upon
presentation of a draft, as well as a signed statement or
certification by the beneficiary that the applicant has
failed in his obligation.