Business Development Grace Kennedy Money Services

1.

Section I

English Speaking Caribbean- Jamaica

About Grace Kennedy Ltd- Money Services

SectionII

The Business Model & Business Developments

SectionIII

Competition & Trends

Section IV

Money Services- Solutions

SectionV

Conclusion

Established 1922

Caribbean largest and most dynamic corporate entity

Publicly held in Jamaica and Trinidad & Tobago

Focusing on a Global concept

Mission statement

To satisfy the unmet needs of Caribbeanpeople wherever they are in the world.

Cambio

Distribution

Financial Services

Food Retail

Home* Garden

Insurance

Remittances

Includes. Money services or Money Transfer (Western Union)

Bill Express & Online Bill Express

FX trader money exchange* cambio

Grace Kennedy and Western Union partnered in 2007. With Western Union holding a 28% as shareholder.

2008was appointed western union master agent in the United Kingdom.

Money service businessesinJamaica and the eastern caribbean to include, Trinidad & Tobago, guyan, Antigua, Guyana, Barbuda, St. Kitts,-nevis , anguilla, St. Vincent, the Grenadines, & Mont-serrat.

Consumer to Consumer and Consumer to Business

Money transfers between two individuals is the most important business for Western Union and accounted for 84.6 percent of revenues in 2009. The vast majority of money transfers are cross-border transactions in which a customer in one country sends remittances to a recipient in another country. The business is heavily dependent on migrants who need to send funds to family members in their country of origin. As a result, transaction volumes can be sensitive to overall economic conditions in countries that have a high level of migrant workers.

The understanding and belief in Grace Kennedys mission statement. That its products and serves will benefit all of and meet the needs of all Caribbean people.

Must hold a personalconviction and belief of the products and services,along with motivation and drivein order to achieving the companies goals and objectives.

The company has a network ofexclusive agents for receiving and sending money across various geographies. When the sender of the money contacts the agent, the information is fed into a common data processing system. The sender has to pay a transfer fee for sending the money. Within minutes, the money is transferred to the receiver.

Money Services in non traditional banking sectors including remittances is the exchange of on demand cash from sender to recipients across national and international countries.The recipients is the beneficiary who welcomes the need of this cash forincome subsidy, emergency cash , education and daily living expenses.

There is a High demand in development of non traditional banking services including bill payment and remittance location developmentfocusingon International recipientsdue to the low wages in the country of the beneficiary in order to sustain decent standard of living condition.

: Remittances have been promoted as a development tool because they can raise

incomes and reduce poverty rates in developing countries. Remittances may also promote

development by providing funds that recipients can spend on education or health care or invest in

entrepreneurial activities. From a macroeconomic perspective, remittances can boost aggregate

demand and thereby increase GDP as well as spur economic growth. Since remittances have become a major source of income for many developing countries, such as Jamaica.

Defined:a collaboration process between supplier and seller to the end user.

This type of collaboration is through B2B marketing strategies and brand management.These strategies focus on building relationships with and among the brand, owners and partners, intermediaries, suppliers and vendors, while implementing alignmentofcompany or brand objectives and customer value, in order to increase and extendthe client lifetime cycle.

Build partnership relationships to allow small business and corporationstodevelop partnership agreements with Grace Kennedy Western Union.Example: Mega Mart partners with Grace Kennedy Remittances. Other food markets , wholesalersretailStores with Grace Kennedy Remittances.Lime partners with Grace Kenney Remittances in a Lime Gift Debit card which can be used for purchases or credit top up as a promotional offer.Colleges and Schools partners with Grace Kennedy Remittances.Large Hotels partners with Grace kennedy Remittances. Insurance Agencies, Credit Unions and Travel Agencies.This is not a franchise, but yet a exclusive agent agreement, business development requirements the business must match the Western Union Business Model.

Strategically MarketingPlans

Communication & Advertisement

Leveraging the DiasporaMarkets

Consumer User End marketing strategies

Innovative Marketing tools foragents

Advanced technological solutions.

Networking and prospecting where business ownersand business investors gather in the b2b markets.

Targetmarket activities to Business investors includes

Join business associations

Attend business owners functions

Join private clubsincluding social networking

Attend business owners seminars

Offer a promotional seminar for prospects

Direct marketing and cold calling

Attend financial institutions events

Sponsor an event

Advertise- get the work out that Grace Kennedy is looking for agents to expand their operations in partnership agreements.

Cross Media Creative we focus on demand through media channels Strategic Planningwe focus on the demographic areas of demand for locations Brand Stewardship where we position the re-seller as a go to location for services. Multimedia Production where we focus on creating brand awareness Web Development where we focus on enhancing customer value,Print Advertisement & Press Release Production Permission Marketing or promotions Search Engine Marketing and Optimization Corporate Identity Projectb2b Marketing Planning

Survey marketing Public Relations Multi-language Communications CustomerPromotions & Merchandising

Product Development Initiativesto Cross Sell to Financial & Lending Institutions

Product Development Initiatives to Retail Merchants

Location expansion and development: to include Business Centers such as mailboxes and business equipments.

The companies operating in the global remittance market face strong competition with few large competitors and numerous small and niche competitors. The leading money transfer organization like Western Union, Money Gram and Euronet, and other independent players compete on the basis of technology, price and quality of service offered to remitters.

World bank estimates show that economic growth is beginning to recover after the global slump that began in 2008. The decline in remittance flows toLatin America and the Caribbean appears to be bottoming out but still slow to recover with the unlikely event of returning to pre crises levels of 2008 even in 2011. - worldbank.org

Leverage the Diaspora Markets

Develop remittance products attractive for the Diaspora Markets example account transfer.

Develop remittance and banking products that focus on the Micro Business Owners Markets- in the Macro Sectors

Tourism Development project

Remittance Education Programs

Donations Programs for Charityor Non- Profit Organizations

Community Development Projects

Medical Plan Projects

Pension & life insurance

Develop partnership relationships with Credit unions cooperative lending institutions that do not offer money transfer or remittances,

Documents

Business Development Grace Kennedy Money Services