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The Export Process-A Two-Part Series
Market Entry Strategies
When you have selected your target markets, you can assess how to get your products to potential customers in those markets. There are many market entry strategies including direct and indirect exporting, joint ventures, strategic alliances, and acquisitions of foreign companies through direct investment or licensing technology abroad. The benefits and risks associated with each method are contingent on many factors, including the type of product, the need for product support, and the foreign economic, political, business and cultural environment you are seeking to penetrate. The best strategy will depend on your firm's level of resources and commitment, and the degree of risk you are willing to incur.
Prospecting for Buyers
Prospecting buyers in overseas markets can be done in various ways. To identify potential buyer representatives in your target market consider:
- Registration on USDA-FAS U.S. Supplier List and Trade Leads
- Advertisement on the Internet and in international trade journals
- Local publications in your target market
- Agent/distributor services
- USDA Export Assistance Programs
- State Regional Trade Groups - (WUSATA, SUSTA, Food Export USA - Northeast, Food Export Association of the Midwest USA) hold buyer missions or reverse trade missions where buyers come to the US to meet with companies at a specific location.
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Quick Links...
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Dear Stephen,
Welcome to Volume 32 of Food Entrepreneur eZine (FE).
Reader responses to the articles in Volume 31 showed 25% found Food Label News helpful, 8% read the Featured Article Still Confused About "Going Green" and 10% found the article about ASBDC of interest. Others learned more about Food Label News and the website popularity tool from marketleap.com.
On review of past surveys, the topic "Product Liability Insurance" generated the most interest. 64% of responders felt that product liability insurance was necessary from the first day of their enterprise; 10% acquired the coverage within 1-3 years of start up, 2% within 3-5 years and 22% advise they do not carry any product liability insurance.
Would you like to be an FE contributor? Topics are welcomed that impact almost any aspect of specialty food marketing. We will be happy to help.
Share your innovative specialty food business with us and we will share it in future issues of Food Entrepreneur eZine
Does FE help you? Please let us know what you think we should do to improve its interest, ease and utility. We invite and welcome your comments.
Let's work together to learn ways of succeeding in specialty food marketing.
Wishing you great profits!
Pat
Pat Hall
Editor, Food Entrepreneur eZine
Steve
Stephen F. Hall
Author, From Kitchen to Market
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· NOTES AND COMMENT - Do I Need to Trademark My Product?
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The United States Patent and Trade Office offers the following guidelines for who and what needs protection. ·
Several categories of material are generally not eligible for federal copyright protection. These include among others:
- The ability to bring an action concerning the mark in federal court;
- The use of the U.S registration as a basis to obtain registration in foreign countries; and
- The ability to file the U.S. registration with the U.S. Customs Service to prevent importation of infringing foreign goods.
When can I use the trademark symbols TM, SM and ®?
Any time you claim rights in a mark, you may use the "TM" (trademark) or "SM" (service mark) designation to alert the public to your claim, regardless of whether you have filed an application with the USPTO. However, you may use the federal registration symbol "®" only after the USPTO actually registers a mark, and not while an application is pending. Also, you may use the registration symbol with the mark only on or in connection with the goods and/or services listed in the federal trademark registration.
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· ALL ABOUT FOOD LABELS - Comments on Canadian Requirement for High Fructose Corn Syrup
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Food Consulting Company's Karen Duester includes the following topics in the latest edition of Food Label News:
· Table of Contents:
· Reader Q&A: Canada & Corn Syrup
· Guidance - Antioxidant, High Potency, White Chocolate
· CFSAN Lists Center's Food Labels Research Projects
· Watch Group Forces Change to Whole Grain Claim
· At Your Service
Readers of Food Label News can submit their food label questions free of charge for possible publication in the Q & A Section of Food Label News.
Q. I've heard that Canada does not allow high fructose corn syrup in food products. Is this true? G.C., Start-up Food Company, Washington
A. Canadian food regulations do not prohibit the use of high fructose corn syrup. However Canadian regulations differ from U.S. regulations regarding nomenclature for this ingredient. Read more.
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· SPECIALTY FOOD RESOURCES - Go to Resources and Select "Business Development Resources"
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Your SpecialtyFoodResource.com site has a SEARCH feature. You may now go right to the "find" section and look for information on our entire site. Feel free to let me know if you see anything that needs changing.
For example, when you click on the "Business Development Resources" tab, you will see an alphabetical listing and contact information for information and guidance.
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· INTERNET SALES: Who is Selling Specialty Food via the Internet? The Answers Here
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Our updated survey on Internet Food Sales in 2007 gave us the following snapshot. When asked if their companies have used the Internet in 2007 as a sales tool:
- 61.5% responded in the affirmative
- 38.4% responded they did not use the Internet at all.
- 44.2% stated the Internet generated less than 10% of their total sales
- 3.7% reported sales between 51% to over 60%of overall sales.
When asked about 2008 sales, survey results showed flat growth with:
- 42.33% of respondents think the Internet would still provide less than 10% of sales.
- 51% to more than 60% of Internet sales shows growth in 2008 remains flat at 5.7%.
So where will the 2008 growth show itself? What segment will provide your business with growth in 2008? Up from 2007 or will the recession impact to keep sales flat? Let us know your thoughts and comments via your Discussion Forum/Blog.
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· NATURAL PRODUCTS EXPO EAST GIVES YOUR BUSINESS THE COMPETITIVE EDGE!
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Do you have an interest in anything "natural"? Do you have a "natural" product and want to assess the competition? The Natural Products Expo East will be held in Boston at the Boston Convention & Exhibit Center September 16-18, 2008.
This exhibit will showcase over 25,000 natural, organic and healthy products from 1,200 manufacturers and offers many educational seminars and networking events. The Expo's mission is to "bring together retailers, suppliers, manufacturers and other industry leaders to discuss industry trends, explore business opportunities and exchange information."
It is the largest healthy, natural and organic products trade show on the East Coast with 2007 attendance of over 25,000 visitors. The National Marketing Institute estimates the $19 billion in 2007 sales of organic foods and beverages to be a 25% increase from 2006. Clearly a market growing by leaps and bounds!
Food Entrepreneur eZine will not be able to attend. If any of our readers are able to attend, we welcome any comments and feedback about your experiences and impressions. We look forward to hearing from you!
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· HOW POPULAR IS YOUR WEBSITE? Find Out Here
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· STRATEGIC PLANNING AT A GLANCE - Recommended Agenda
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Have a look at the winning Strategic Planning Workshop/Retreat Agenda I use. It helps food entrepreneurs establish a strategic framework that is critical to their success. Contact me to learn how we can implement it in your firm.
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· SPECIALTY FOOD MARKETING WORKSHOP SCHEDULE
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Register now to attend the ASBDC's Small Business Conference in Chicago! This is a must for any and all small business owners.
The America's Small Business Development Center Network (ASBDC) has invited Stephen to present a 3-hour interactive workshop on September 4 and 5, 2008 from 8:30am-11:45am on Specialty Food Marketing at the Hyatt Regency Chicago on the Riverwalk. The conference schedule is packed with dozens of business seminars and workshops all geared to address the needs of the small business owners.
Non-member registration is $735 for the two-day conference and offers open access to many seminars and workshops.
If you would like your state to host a workshop for the local specialty food producers in your area, please have them contact Stephen at steve@SpecialtyFoodResource.com.
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· FE CONTRIBUTOR LISTING - Names and Contact Info
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Here is the listing. Please contact me to learn how you, too, can be added to this prestigious listing.
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· AN IMPRESSIVE WEBSITE FOR SPECIALTY FOOD SHOPPING!
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While surfing the Internet we came across a website named the Gourmet Food Garden. Its been in operation for a year and this online directory offers over 10,800 specialty food products from 17 luxury merchants..
Best of all is the monthly food review section where staff members review and critique various gourmet offerings. Each review rates the whole shopping experience including the condition of the food upon arrival, the customer service of the supplier and the actual product itself.
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· The 4th Edition of "From Kitchen to Market" is Classic!
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"From Kitchen to Market is the best book about the U.S. specialty food field, and there is a great need you have so very well covered!" - Ted Koryn, U.S. specialty food industry pioneer.
The only book of its kind that outlines every food marketing opportunity and then supports entrepreneurial action with detailed guidance.
FAN MAIL: ""Enjoy the book very much, it is a great resource to have. It has helped at every turn in the road!" Jake Hopkins
Other good books for small business management can be seen at Kaplan Publishing's web site: www.kaplan.com
ORDER THE BOOK HERE.
Discount price: $19.77 [Cover Price is $28.95]
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· Build and Manage Your Own Website!
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Sell your specialty food product online!
SnapMonkey is a place where you can go online and create your own website. You don't need to know anything about programming. If you can create a word document, you have the skills to create your own website.
With our easy-to-use shopping cart, you can easily sell your products online. Try our 10 day NO-COST trial. If you like it, it is only $49 to activate, and $29.95/month. Give it a try.
How is your website? Here is a first class web analysis service. We can research your market and prepare a plan. For more information, see this site.
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· A New eBook About How Powerful Online Communities Can Promote Your Business
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Why Buy It?
Reason One: According to an iProspect study, 1 in 3 Internet users are searching online communities, reading what other people have written, and making a buying decision based on what they have read.
Reason Two: Statistics show that 70% of people research online before making a purchasing decision. (And that includes local service businesses).
Reason Three: You will learn from experts who have PERSONAL EXPERIENCE and who have successfully market their businesses in these online communities. And, these experts are going to share their strategies with you!
Try it out. If it doesn't do everything the author says and more, if you don't save money, time and frustration, if it isn't life-changing, if it doesn't work for you, you have nothing to worry about because you can get every dime of your money back under our no- loopholes guarantee. So you have nothing to lose and everything to gain
Cost: $47.00 [Cover price is $79.00]
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