Businesses told: Have a clear strategy important

Business people must have a comprehensive, defined strategy for how they plan to move their products into the international markets.

This is according to Manager, Trade and Export Development at Caribbean Export, David Gomez, who spoke to the Grenada Advocate recently during a break of the Training Workshop on “The Use of Intellectual Property as a tool for Business/Export Enhancement” at the Radisson Aquatica Resort.

He said that unfortunately, a lot of persons have not yet fully developed a plan for their business and the products that they produce.

“First and foremost, you must have a clear strategy. A lot of companies don’t have that. A lot of products don’t have that. You must understand what your export plan is and then you must understand the market demands for the product or service you are trying to sell, so the competitive intelligence is going to be critical. If you have all of those factors laid out, then you can be very creative in our own strategies and how you go to market. That would be your business secrets.”

He said that it is also about creating a particular experience that is related to your product, so that customers know that every time they use your product, they would get the exact same experience.

“That depends on the ability to bring quality products to market. You must create an experience and once you have created an experience and you have created a demand for that product, then you can leverage that further.”

Furthermore, he suggested that regional businesses seek out new markets for export.

“We have to start looking at non-traditional markets for exports. Which ones present the best opportunities for us to grow the exports based on the composition of our export baskets.”

He suggested that countries like Mexico and Brazil would be viable options.(PJT)