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Overview of basic business considerations for U.S. companies new to exporting, prepared for seminars at the Northern Kentucky University International Business Center.
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Export BasicsGetting Started: What You Should Know
Pete HealyCrowbar Marketing
Innovationists International
Northern Kentucky UniversityInternational Business Center
December 2009
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Our “Concorde” Agenda
First Of All: Why Export?
Are You Export-Ready?
Basic Market Research
Common Export Terminology
Recommended Resources
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Why Export?
Quantitative:
Sales opportunities!The 95/5 reality
Offset domestic volatilityDon’t forget seasonality
Raise operating efficiencies, reduce costs
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Why Export?
Qualitative:
Brand awareness & reputationEven bigger in digital media age
Expanded business partnershipsDistribution, manufacturing
ExpertiseStraight-line growth or expansion into licensing, etc.
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Why Export?
End Result:
A competitive edge!
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Our “Concorde” Agenda
First Of All: Why Export?
Are You Export-Ready?
Basic Market Research
Common Export Terminology
Recommended Resources
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Are You Export-ready?
The essentials:
Senior management commitment
Knowing your product
Cash flow & room for investment
Production capacity & ability to produce international products
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Are You Export-ready?
The essentials:
Senior management commitmentWhat payback periods: Capital expenditures, marketing spend?
How to allocate resources & overhead? (staffing, materials)
Comfort level: Risk vs. reward?
Export strategy Business goals
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Are You Export-ready?
The essentials:
Knowing your productWhy do customers need your product?
Your competitive advantage: Brand image, quality, features, price?...
Your distribution channels?
Export strategy Business goals
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Are You Export-ready?
Your turn –
Cash flow & room for investment
Production capacity & ability to produce international products
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Our “Concorde” Agenda
First Of All: Why Export?
Are You Export-Ready?
Basic Market Research
Common Export Terminology
Recommended Resources
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Basic Market Research
Does it even matter if “they” come to you?
Yes! Get the jump on competition:
Central Intelligence Agencyhttps://www.cia.gov/library/publications/the-world-factbook/geos/ee.html
US Dept of Commerce / Int’l Trade Administrationhttp://www.trade.gov/cs/index.asp
US Dept of Agriculture / Foreign Agricultural Servicehttp://www.fas.usda.gov/markettradedata.asp
Produce Marketing Associationhttp://www.pma.com/cig/intl/internationalMarkets.cfm
Other trade/industry associations
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Basic Market Research
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Basic Market Research
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Basic Market Research
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Basic Market Research
Management questions:
Stable political system?
Stable economy, exchange rate?
Intellectual Property protections?
Anti-American sentiment?
US Commercial Attaches available?
Tariffs or NTTBs on imports?
Licenses, regulatory requirements?
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Basic Market Research
Marketing questions:
Already a market there for your product? What price range?
Annual sales volume?
Largest market-share holders?
Channels of distribution, Channel member expectations?
Advertising: Types, spend, restrictions?
Branding: Positioning of top brands?
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Our “Concorde” Agenda
First Of All: Why Export?
Are You Export-Ready?
Basic Market Research
Common Export Terminology
Recommended Resources
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Common Export Terminology
“Cost” vs. “Price”
Terms of Sale
Terms of Delivery
Terms of Payment
Letters of Credit
Documentary Collections
Freight forwarders/Carriers
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Our “Concorde” Agenda
First Of All: Why Export?
Are You Export-Ready?
Basic Market Research
Common Export Terminology
Recommended Resources
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Recommended Resources
NKU International Business Center http://www.nku.edu/~cob/institutes/ibc/index.php
NKITA (NKY International Trade Association) http://www.nkychamber.com/cwt/external/WCPages/business/international.aspx
Kentucky World Trade Center http://www.kwtc.org/
US Dept of Commerce (International Trade Administration) http://www.trade.gov/cs/index.asphttp://www.export.gov/
US Dept of Agriculture (Foreign Agricultural Service) http://www.fas.usda.gov/
Central Intelligence Agency https://www.cia.gov/library/publications/the-world-factbook/geos/ee.html
UNZ & Company http://www.unzco.com/index.htm
Crowbar Marketingwww.CrowbarMarketing.comwww.TheInnovationists.com
Pete Healy• Pete Healy introduced wine coolers to Japan in the early 1980s, and has been involved in
international business every since. Widely regarded for his work in international, strategic, and digital marketing, Pete’s work includes:
• International launch or expansion of client brands such as Lindsay Olives, Wente Wines and Phillips Farms;
• Development of Jelly Belly® jelly beans as an international brand with distribution around the world;
• Advising to Perfetti Van Melle marketing managers in The Netherlands, India, and other countries on Mentos® marketing strategies in the US;
• Workshops and classes on international sales and marketing strategies for the US Department of Commerce, the Foreign Agricultural Service of the USDA, University of California Berkeley, and the National Confectioners Association;
• Seminars on international payment methods, logistics, and export licensing for UNZ & Company, the Small Business Administration, and others;
• Consulting to Silicon Valley manufacturers on export licensing and international logistics.
• Pete is currently Director of Crowbar Marketing (www.CrowbarMarketing.com) and a founding partner of Innovationists International (www.TheInnovationists.com). He is president-elect of the Cincinnati chapter of the American Marketing Association for 2009-2010, and can be found at www.LinkedIn.com/in/PeteHealyKY. Formerly a resident of Sapporo, Japan, and the San Francisco Bay Area, Pete now lives in Northern Kentucky.