Export Plan - Jamaica

8/13/2019 Export Plan - Jamaica

1/18

European Food Trading

*


2/18

*Background

*Analysis

*Marketing mix*Distribution

*Financial plan

*Conclusion

*Recommendation

*


3/18

*

* EFT

*Jamaica

* Pros and Cons


4/18

*

* Political* Independent nation since 1962

* Realm of the Commonwealth

* Democracy

*Economic* Mixed economy

* 65% depends on services industry

* Macro-economic stabilization program

* Social* Different ethnic groups

* Majority of the people are 15-64 years old


5/18

*

* Technological* Half of the nation has access to internet

*Behind in cutting-edge internet

* Environmental* Tropical maritime climate, temp: 27-32

* Rainy season May October

* Hurricane season June November

* Legal* Common Law

* Power divided over 3 groups


6/18

*

Internal factors Weight Rating Weighted score CommentsOpportunitiesImport Substitution 0.1 3 0.3 Jamaica depends on import

for their food supplies

Global recovery and

increased markets0.1 3 0.3 Good place to start a new

companyGrowing tourism 0.15 4 0.6 Tourist are more likely to

trust European food qualityEU and Central America are

negotiating on a free trade

agreement

0.2 5 1 Makes it easier to tradewith Jamaica

ThreatsEconomically unstable 0.1 3 0.3 Could make it harder to do

businessLocal competition 0.15 1 0.15 Similar product for a lower

price, and produced localHigh crime rates 0.1 4 0.4 Have dropped over the

yearsPolitically unstable 0.1 2 0.2 Makes the country instableTotal Score 1 3.25


7/18

*

Internal Factors Weight Rating Weighted

Score

Comments

Strengths

Skilled employees 0.2 5.0 1 Staff members are qualified and

have deep knowledge of their field

Customer Relationship 0.2 4.0 0.8 The company has created a strong

partnership with its customersSuppliers 0.1 3.2 0.32 Good established long-term

partnerships with various suppliers

Quality Products 0.1 4.0 0.4 High-quality products with

attractive prices

Up-to-date information systems 0.05 3 0.15 Recently upgraded information

systems

Healthy Financial Position 0.05 4 0.2 Still strong after the market

slowdown due to recession

Weaknesses

No separate purchasing department 0.2 2.0 0.4 Could lead to low efficiency

Lack about the knowledge about

the specific market

0.1 3.0 0.3 The company has specified

knowledge about the American and

Canadian markets only

Total Score 1 3.57


8/18

*

Internal factors Weight Rating

Weighted

scoreComments Term

Strengths

Customer

Relationship

0.1 4 0.4The company has created a strong partnership with its customers Short and Long

Skilled employees 0.1 5 0.5Staff members are qualified and have deep knowledge of their field Short and LongQuality Products 0.15 4 0.6High-quality products with attractive prices ShortWeaknesses

No separate

purchasing

department

0.1 2 0.2Could lead to low efficiency Short

Lack of knowledge

about the specific

market

0.05 3 0.15The company has specified knowledge about the American and Canadianmarkets only

Intermediate

OpportunitiesImport Substitution 0.1 3 0.3Jamaica depends on import for their food supplies IntermediateGlobal recovery and

increased markets0.05 3 0.15Good place to start a new company Long

Growing tourism 0.1 4 0.4Tourist are more likely to trust European food quality LongThreatsEconomically unstable 0.05 3 0.15Could make it harder to do business Long

Local competition 0.15 1 0.15Similar product for a lower price, and produced local Short and LongPolitically unstable 0.05 2 0.1Makes the country instable Long


9/18

*

*Pestel

* IFAS

*EFAS

* SFAS

*TOWS


10/18

*

*High margin High quality

*Local agents

*Less costs same vision


11/18

*

*4Ps* Product

*Frozen or tinned vegetables

* Price* Value added pricing

* Place* Port of Rotterdam/Schiphol airport

* Promotion*

Existing customers* Business fairs


12/18

*SMART target group

* Specific* 4 to 5 star hotel tourist areas

* Measurable

* Achievable

* Relevant

* Time

Turnover and number of EFT customers per region in 2003(Roukens en Kooij)Country/Region Turnover in % Number of customersCanada 28 3Hong Kong 29 10Singapore 34 12Rest of Asia 9 8Total 100 33


13/18

*Segmentation

*Demographic segmentation* Income

* Behavior

* Social class

* Lifestyle

* age

*Geographic segmentation

* Located in Central-America

* Third largest Island

* Poor water quality

* Touristic cities/areas


14/18

*

* Shipping is covered under

INCOTERMS CIF

* Shipped out of Rotterdamto Kingston

*Warehouse in Kingston will

hold goods

*Final delivery can be done

by third party companies


15/18

*

*Past Trends

* Summary of Projections

*Pricing Strategy* Price skimming

*Cost drivers

*Break-Even*Forecast


16/18

*

* Cost drivers

* Break-Even Analysis

Variable Cost Category Percentage of Total Sales Price Cost per kilogramOriginal Purchase Cost 85% 0.64Marketing 2% 0.02Insurance 2% 0.02Transportation 11% 0.14Total Variable Costs 100% 0.81


17/18

*

* Forecast: Next Three Years


18/18

*

*A yes, with great prospect

*Low break-even

*Catering to high-end consumermarket

* Strong tourist presence

* In short, move forward with

expansion

Documents

Export Plan - Jamaica