Indians have left their mark all over the world, specially the south indians who are well known or their migration to different countries in Europe,Asia and the United states.Keeping this point in mind its a very wise step taken by SIF to go global.Since it has a brand name in south india it can easily market its product by targetting the migrated population by distribution in the indian stores all over the united states ,europe and asia .For doing this the company may not set up units in those countries but may appoint distributors or exporters who already are exporting various indian products from India itelf.It can conduct survey to check the market with indian stores
Well going abroad is a good option as the company had gained certain ground in India and also have superior expertise. But before going global,it should conduct surveys in those nations to estimate the market potential, existing competitors, entry barriers, regulations for food products(which are often stringent in developed countries)and acceptable pricing for such products. After arriving at figures for market potential it has to decide on distribution channels and pricing strategy. As demand would be more for such products abroad, a tie up with existing retailer netowrks is inevitable. Coming to pricing, as demand exceed availability of Indian products abroad, they can charge a premium but have to consider competitors prices before that. Company must be also in a position to hedge certain risks arising out of forex etc. One more important aspect is promotion for the products. As the penetration of internet in developed countries is high, they have to launch a website to promote their products and also have several value added services like home delivery and all. The company must also spend a lot on brand awareness. If the consumers abroad are not aware of brand then the cost and effort would be high..other option for this would be leveraging brand image of exiting retailer and pay for it.But in longer run building brand image is important and hence not use the retailer brand image option. After considering all these costs and benifits, the company can easily arrive at deci
YES ,IT SHOULD GO TO FOREIGN MARKET.FIRST UP ALL THE PACKING SHOULD BE EXCELLENT,SECOND HAVE TO DO LOTS OF SAMPLING THEN GET A FEED BACK FROM THE CUSTOMERS.THE TASTE OF THE PRODUCTS SHOULD BE BETTER THAN THE EXISTING.OFCOURSE THE PRICE FROM THE BEGINING SHOULD BE LESS THAN THE COMPETTIVE PRODUCTS.ONECE THE MARKET IS OUR HAND WE CAN INCREASE IT GRADUALLY.FINALLY REQUIRED A EXCELLENT MARKETTING SUPPORT.AT PRESENT GETTING A GOOD STAFF ALSO BIT PROBLEM. SO WE HAVE TO RECRUIT A EXPERIENCE, AND EXELLENT HARD WORKING STAFF FROM THE BEGINING.THIS WAY YOU DO NOT HAVE LOOK BACK.YOU WILL BE IN THE MARKET ALONG WITH OTHER BRANDS.
Indin Food Products are loved by every body in the world. Here SIF is late in launching the product. Better late than never. SIF has to launch in SA countries and middle east and GCC in the first phase. They can also venture into East African Market from there. Their phase 2 has to lauched in UK where are good no of Indian population which can also cater to other European market. They have to license the products thru some production unit when they venture into North American market since there are lot of food products rules prevailing. They may have to see that the products are not as spicy as in Indian Market. Mr. Krishnan should do thorough market survey in each and evry phase. The best food products which can go global are dry items like powder items like dal, corriander, garlic, coconut powder,chilly powder for idly, papad items, fryums which can be stored for longer period of time atleast 3 months for powder stuffs. The paste stuff like tamarind can also stand for a longer period. Instead of launching every product at ne shot let it experiment on the popular products in domestic market and late it can be extended to other products. I wish Krishnan and Maya a best wishes.
If you have Dreams then go Global with Confidence. At the beginning of venture, do not forecast Profit or Loss. At the beginning do not go in for partnership or franchise with foreign local market ,open one Brand new Outlet in your Indian market name all exclusively handled by yourself only. This helps you in knowing your customer%u2019s view regarding your products directly and very clearly. Naming your product in Indian name gives the foreign customer a sense of Indian ness. Do not go for production of your products in foreign soil because of 1) Foreign Raw material Quality e.g Rice produced in India cant have the same taste like the one produced in USA or UK. 2) Foreign packaging e.g Tinned packing. Pack like the way u do in India . It will match the product being Indian. Do not compromise on profit or loss regarding production in foreign countries this will loose your products quality, taste and aroma. About pricing, go for reasonable pricing in the beginning. Do not worry if it goes in loss a bit. Foreigner likes Indian food very much, so do not target just Indians. If you are going global then hit the market globally. Once your outlet is well established and you feel the rush, then open more outlets in other parts of the country. Slowly increase your products rate. Price will not be a barrier when your product sells like hot cakes. When your product is No 1 in India then u need not worry about it being in foreign country. Remember that Product%u2019s Qual
One positive about SIF is that they have maintained a Strict check on Quality right from raw products,packing till the Finished product. This will help in understanding & adapting to US / UK Markets easily as they have strict laws regarding Food items.Since they command nearly 25% Market share awarness about their products is not a problem.By entering into a License agreement with Mid Size food Companies they have to not only see that Quality is maintained but oversea Production as well.Raw materials can be procurred from local markets in US/UK keeping same Quality requirements in mind.If the taste of products differ very much then Raw materials could be procurred in Bulk from India. But this will again require permissions etc which can be obtained.Distribution,Marketing & Advt being the Responsibility of the Food Co in US/UK it can be concentrated initially in Areas poulated by not only Indians but also Sri Lankans etc.A study can be made & areas chalked out.Department Stores.Small Grocery shops, Restraunts & even Home deliveries should be targetted.Indians living abroad want Indian products & what better than getting Locally Fresh SIF Products.Shelf life is not compromised, Costs can be maintained & Quality if maintained will help maintain a market of its own.Since families living in US/UK are hard pressed for time such Ready to Eat meals will be a Hit.The Next step is to finally Set up Own operations in the US/UK but after cornering a market share.Lets go to UK & US.
Why not SIF should go global? SIF must go international. But by entering into licensing agreements with foreign food companies will not bring in good results, because these companies would require to train the staff exactly upto the standards which SIF possess.
The best solution is: Produce more in India and directly export to other South Asian countries, the US and the UK.
After having remarkable penetration in Indian market he should go for global market.To enter a global market he should adop some specific strategies.He should planned specific Indian food outlets with brandings like Macdonald,Pizza hut,chinees Resturents made in Indian Market.It WOuld help to maintain standards and attention to Indial food which helthy than other fast food.
We Indians have to rule the world.So lets Go ahed.
The fact entering global market is appriciated. For Indian market condition and for styudying it took laot of time, being an Indian knowing the food habits and other etc... Before entring it is adfvisable to study the market in any other countrly usually it will always different than India. Markating place a vital role They had work hard to bring up the product in the market, to sell like hot cake. Usually other fast growing countries, their life style is fast, accordinly they can think of going like ready made/ fast food.. or preparing the items in a few minutes and ready to eat with out doing any extra activities. For the Indian items mostly Indian people will attaract first.. after all we ar Indian & we like Indian food. It will always good to enter Global market as an Indian with "Made in India"
It has yet to explore 70% of Indian market(rural). May be not accepted by the people as a ready food. But if they tactfully,involve rural images in the advertisements. Start, chain hotels, may be on the small scale but more in numbers with advertisement of SIF.With this people will become addicted to SIF food. Make through impression on the minds of the people living in rural India. Especially take care to impress female memebers, how it relieves them from the pressure of work at the same time they can make family memebers happy with the quality product of SIF and thats all.Need not go global. not even to another Asian countries at this moment.
