Essay about Stoneyfield Recommendations
The first recommendation is to do adequate market research. Investigate which countries are more apt to focus on organic dairy products and are concerned about the environment. If some countries are prone to a high amount of lactose intolerant potential customers, that should be known beforehand. Also, it is important that the target market is familiar with Stoneyfield and their products. If not, be prepared to spend considerable time and money educating the potential customers.
Once the potential customers and countries are narrowed down, heavy marketing of the products should be done. As Lazer (1993) states, it is wise to take into consideration market barriers, customer preferences, and …show more content…
Fifth, it is very important to meet overseas contacts in person. Since Stoneyfield is committed to organic products and conservation to the planet, it is vital to make sure the farmers and standards are the same in the new country. Overseas farmers need to be met and their dairy farms inspected to ensure the quality of the products. Also, organic standards need to be met or exceeded in all new countries.
Sixth, Stoneyfield needs to get an accurate picture of the costs involved for exporting and doing business in other countries. Other costs, such as labor and farming need to all be taken into consideration and built into the price of the products. Much of Europe has completely different holiday schedules then the United States as well, which will affect profits. Management must frequently visit the new country during the first few years of the integration, and these costs need to be accounted for as well.
Seventh, Stoneyfield should restructure to a hybrid structure to