In 2012 and 2013 we undertook two large consultancy projects with foreign governments where we and our partners helped develop and implement internationalization strategies for firms from the countries in question. The governments were very satisfied with the outcomes of the projects, we were not, due to the fact that there was a sustainability issue. Yes the firms in question had broken out of their domestic markets, and with our help, had broken into new and potentially lucrative foreign markets, but once established there could they survive, could they be profitable? In truth, and in many instances due to resource issues, the answer was no.
As a result of this we developed the ASIA Paradigm©. This is a step by step model we use to help develop our client’s business in target markets. The model works like this. When we meet a new client we apply a step by step approach to determine if, and then how, we can proceed with the project:
ASSESS
Step one, involves a capabilities analysis and an assessment of product or service differentiation. Simply put we do this to ascertain if the organization has either the inherent or developed resources to achieve profitability and sustainability in new markets. Also we need to ascertain where the differentiation within the service or product actually lies. It does not to have to be disruptive but if it’s merely a `me too` business, then we’re more than likely to say no.
STRATEGIZE
Step two, once we are convinced that the firm is ready to `go global,` we then can develop a cost effective strategy to demonstrate the route to market and, as importantly, how the strategy will be rolled out in the target market with KPIs built into the whole process.
IMPLEMENTATION
Step three, creating a strategy is relatively easy; executing it is far more difficult especially when the visibility of the brand in the new market is weak. Our goal is to build brand awareness and a sales pipeline thereby establishing a revenue stream within the target market in three to six-month’s time, helping to immediately offset the project’s costs
ADJUST
Final step, all strategies are emergent, what you started out with is not what you end up with. Strategy implementation involves constant and incremental adjustment to ensure both sustainability and profitability in new markets.
Below is a snap shot of the project work we have undertaken on behalf of Russian, Brazil/US and Malaysian clients. This involved designing cost effective market access strategies with the goal of achieving immediate then high volume sales in the target markets.
The Eurasia Consortium first encountered the team from what would become Snowdrop London’s Rejuvenating skin care cream. The formula for Snowdrop London was developed after extensive research at the laboratory of the department of Biochemistry Tomsk State University, Russia. The issue the team from the department of Biochemistry faced was how to speed the application of medicines into the skin (enhanced dermal penetration). The team discovered that by infusing liquefied xenon into medicines, this helped to overcome the skin’s natural resistance to liquids, producing faster penetration of the skin. The team then looked into how they could commercialise their findings and after four years of work developed a skin lightening cream infused with liquefied xenon with the following qualities: Anti acne (see testimonials): Anti-wrinkle / aging: Blemish, freckle dark spot removal: A lighting effect and enhanced (faster results).
In 2016 the Oxford based strategy consultancy, the Eurasia Consortium together with consultants from the University of Oxford’s research commercialization division Oxford Innovation, spent time in Tomsk evaluating research being spun out of Tomsk Universities, one of which was the cream developed by Professor Alexander Verkhovskiy and his team. The Eurasia Consortium began working with Professor Verkhovskiy by investing in the project and assisting in the brand development and the creation of sales pipelines. Currently Snowdrop London skin rejuvenating cream is being sold across South East Asia, the UK with negotiations underway in the Americas.
Originating in Brazil, Truss Professionals’ hair care product range, has grown exponentially in Latin America and is taking the US by storm. Pitching for and winning the project work to bring Truss into the UK / EU, the Eurasia Consortium, has built on-offline sales channels, reworked the brand’s communication strategy for the UK/EU market and throughout 2018 -2019 has increased sales making Truss one of the most successful of the Consortium’s brands under management in terms of sales growth.
This is one of our favourite projects in terms of product innovation. DFI’s innovation delicious cook in sauces are vacuum packed in retort pouches which means they are shelf stable and have a long life span. Add to this the fact that they are non GMO and gluten free, have no artificial colours, flavours or preservatives and we knew we were on to a winner. Enhancing the non GMO aspect by having the product certified as such (non GMO Project) in the US market, The Eurasia Consortium has developed a successful online sales platform in the US and is currently working with offline specialist retailers (Non-GMO) in the US to increase sales.
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