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To: Management
From: Marketing Manager
Date: August 2003
INTERNATIONAL MARKETING STRATEGY
1] OVERVIEW OF CURRENT SITUATION
Enzymes key markets include North America, Europe, and UK, which together represent over 60% of the global market in 2005 and more than 55% in 2009. However, by 2009, Rest of World category including up and upcoming economies such as China, the Far East and Latin America will grow in proportion to Europe and by 2009 will become of equal importance as of US market to Enzymes in terms of sales.
China, Far East and Latin America countries are likely to first look for commodity enzymes for bulk manufacturing such as textiles and brewing. In time, we believe there will be space for a niche enzyme providers like Enzymes UK. Large global players are already in Asia therefore in the next 3 years; we must focus our IMS efforts to establish a strong market position. Japanese companies have also shown strength the production of enzymes therefore would present tough competition.
Enzymes¡¯ customer base is geographically spread and includes Worldwide Blue chip companies, SMEs mainly in US and Europe and those with growth potential. ... Enzymes being a small independent company need to make diligent decisions to maximize on opportunities presented in the International arena. However, it is experienced and has presence in 35 countries around the world including the US (biggest sales performance for the company representing 7% of total sales in 1997 and overwhelming increasing to 44% of total sales in 2001) thus is has good experience in IMS. Had Enzymes not realized the US market, it would not be in this position today looking for similar success. ... Amongst these countries, China presents huge opportunities for Enzymes UK as it does for many industries due to the rising living standards, foreign investments in banking and private enterprises, and the larges world population. ...
Time plan to enter market
We believe that China presents a large enough territory for our focus IMS in the next 6 months and feel now is a good timing to enter the market. ... 1 Country attractiveness ¨C Rewards
¡ì China is a big potential market
¡ì Less competition and enzymes know-how from local rivals
¡ì New business and revenue opportunities
¡ì Reuse earlier developed enzymes complexes and technology to serve young markets
¡ì Vast country with high GDP and many international companies vying for business space
¡ì Suppressed nation with willing to learn and adopt practices from the West; may lead to greater acceptance of new technologies; less pressure against GMOs
¡ì Presents even more attractive customer base than USA, the leading market. ...
¡ì Social habits and food preparations such as Islamic trends in Europe may dictate which enzymes are introduced/
¡ì Lack of sales persons to cover key accounts in Asia, China. ...
¡ì Extensive market research needs to be carried out in new potential markets for customer behavior, acceptance levels and usage of enzymes and needs. ... 3 Company Attractiveness/Strengths
¡ì Enzymes UK has long operating history and is a well known trusted brand operating in international markets and Europe.
¡ì UK leadership position of producer of specialty enzymes especially for food and diagnostic industry.
Approximate Word count = 2563
Approximate Pages = 10.3
(250 words per page double spaced)
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