The strategy focuses on expanding a canned milk business internationally by implementing a three-pronged approach. The first part involves conducting thorough market research to identify countries with high demand for canned milk. For instance, identifying consumer preferences and evaluating local competitors help tailor offerings effectively. Understanding import regulations and distribution channels ensures smooth entry into new markets.
The second aspect emphasizes developing strategic partnerships. Collaborating with local distributors and supermarkets boosts market penetration. Forming alliances with local logistics providers ensures efficient supply chains, while partnerships with local influencers and associations help bolster brand presence.
Lastly, tailoring marketing and branding efforts is crucial. Creating culturally appealing branding and multilingual packaging helps connect with diverse audiences. Moreover, leveraging local holidays for promotions and implementing region-specific advertisements enhance customer engagement and trust.
The strategies
⛳️ Strategy 1: Conduct Thorough Market Research
- Identify target countries with high potential demand for canned milk
- Analyse cultural preferences and consumer behaviour in target markets
- Evaluate competitors and their market share in those regions
- Determine regulatory requirements for importing canned milk
- Assess distribution channels available in the target countries
- Investigate pricing strategies currently effective in the market
- Research local advertising and marketing tactics
- Identify potential trade shows and industry events
- Gather information on import duties and taxes
- Understand local business customs and practices
⛳️ Strategy 2: Develop Strategic Partnerships
- Contact potential local distributors and negotiate terms
- Establish relationships with local retailers and supermarkets
- Seek out joint venture opportunities with local companies
- Identify influencers and brand ambassadors in the target market
- Collaborate with local food associations and organisations
- Partner with logistic companies for efficient supply chain management
- Engage with local marketing agencies for brand promotions
- Initiate partnerships with local online marketplaces
- Build alliances with local dairy farms for sourcing potential
- Explore franchising opportunities in the target regions
⛳️ Strategy 3: Tailor Marketing and Branding Efforts
- Create culturally relevant and appealing branding
- Develop multilingual packaging and labelling
- Launch targeted social media campaigns in native languages
- Leverage local holidays and events for promotional activities
- Design region-specific advertisements and commercials
- Implement in-store tasting and demo promotions
- Offer limited-time discounts or trial offers
- Collect customer feedback for continuous improvement
- Utilise local influencers for marketing collaborations
- Engage in community-based initiatives to build brand trust
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
