Expansion to Asian markets, develop an effective, financially-backed market entry program for our client.
About this Solution:
S.T. Health Line (STH) is specializing in development of skin care products. Its products are based on active natural ingredients with proven efficacy to treat skin disorders. Upon establishing a wide distribution base in Israel and Europe, STH sought expansion to Asian markets. Without prior operational experience in Asia, STH turned to the Export Institute seeking an effective, financially backed, market entry program.
Through the New Market Entry Support Plan, the Israel Export Institute linked STH with Anemone Ventures, an Authorized Business Development Partner located in Asia. Anemone Ventures was tasked with implementing the Support Plan in Taiwan and Asia. The Support Plan consists of three effective steps:
Step 1: Market feasibility assessment including competitors landscape, sales channels and products, price recommendations and suggested adaptation needed for the local market.
Step 2: Search and identification of relevant partners. A thorough search and selection process of relevant distributors.
Step 3: Negotiation of order deals with selected distributors and partners
Working tightly with STH management, Anemone Ventures identified market entry strategy, recommended product portfolio suitable for the mentioned markets, and launched sales meetings with selected business partners. A visit for STH CEO to meet with selected potential partners was scheduled thereafter allowing immediate and detailed business discussions including prices, MOQ, delivery dates etc.
Furthermore, Anemone Ventures engaged STH existing distributors and offered a complete ground representation handling all STH’s business development activities promptly, effectively and in their local language. As a result, three newly recruited distributors gave initial orders for nine different products. As well, two existing distributors expanded their STH product range sending additional orders for two new products.
Yousef Anton, STH CEO: “Anemone Ventures professional team made it easy to understand the market in Taiwan thus creating a clear SWOT analysis. The team is highly skilled, quickly responding and have excellent negotiation strategies. Anemone Ventures helped us breaking language and mentality barriers that generated trial orders from new customers and strengthened business with existing ones.”
This Solution is most applicable for the following stages and categories:
- Market entry
- Healthcare products