Ai Group as a multi-industry association is able to assist you with your product into any export market.
The development of a new export market involves much more than simply achieving an initial sale. Rather, it involves the successful identification and development of a range of factors necessary to allow long-term profitable business results to be achieved. This is important as initial trial sales are in most cases not going to justify the considerable time and financial investment in export marketing.
Specifically, new market development will involve some or all of the following:
Building new relationships:
While it is stating the obvious, export Development involves the building of new relationships with partners, agents and/or customers, usually in unfamiliar cultural and business environments. These relationships must be built on mutual trust and an understanding of each party’s needs and requirements. Ai Group assists companies with this through its trade missions.
Identifying new market needs:
In most cases, the specific needs of a foreign market will vary from the familiar domestic market, leading to a need to modify products or services. It may also mean that completely new opportunities will be identified in export markets. Ai Group can provide detailed and low cost market reports.
Arranging efficient and reliable distribution:
While often overlooked by companies, it is important that appropriate methods of supply and distribution be identified, particularly if goods are being supplied over long distances with tight lead times. It is also necessary to ensure appropriate and secure methods of payment. To improve these skills within your company consider attending one of our Training Courses on the topic.
Developing a plan or strategy, which is realistic, affordable and flexible enough to grow with market penetration:
It is essential for companies to set realistic objectives that are within the company’s financial and other resource capabilities.
Obviously it is a cheaper and simpler proposition to introduce a specialist product to a close and familiar market such as New Zealand, than to launch a mass consumer product on a major market such as Japan or the USA. It is also common for a company's approach to new markets to change over time as they achieve greater volumes of sales. If you need help in developing a strategy for your company, contact Ai Group for a diagnostic.
Establishing methods of monitoring the market:
Export markets are no less (and, in fact, often more) dynamic over time than the Australian market. Both consumers’ needs and methods of distribution may rapidly change in an environment of rapid economic growth. It is therefore vital for companies to continually monitor the market to identify these changes, and to liaise with existing and potential customers.
For more information on developing your export markets email Louise McGrath, National Manager – Business and International Advisory Services or call her on tel: (03) 9867 0158.