Marketing Strategy
It is most important for developer who will be responsible for marketing to establish the marketing strategy to find proper prospective investors throughout the world in the short period. The key factor for marketing strategy will be listed as per hereunder from the past successful case for PEZ.
Pricing Policy
Taking into consideration that the lump sum payment rate may not be much attractive basing on the projected cost for the development of the PEZ, the following countermeasures have to be considered:
Providing multiple rates for land lease: Monthly, semi-annual or annual rental rate, and lump sum payment rate for the whole contract period.
Renewing lease contract, in case of short term lease, every 5 - 15 years then applying revised new rate (The future rate may possibly offered at the time of the first contract basing on the calculation with the expected economic growth rate.)
Applying the reduced rate for the first 3 years or so.
To establish the suitable marketing teams:
PEZ company must establish the marketing division with well-trained marketing experts under the management. The number of the marketing experts is minimum three staffs under director who will be versed in the followings:
To have knowledge of laws and regulation required for foreign investment.
To have knowledge of overseas PEZ and/or industrial parks in China, ASEAN in the points of land leasing cost, various incentive, labor cost, utility cost, etc. and its comparison.
However, due to the limited resource of the PEZ including fund, personnel, experience and expertise, and the lack of own overseas outlets, the PEZ has to inevitably rely on the outside resources in marketing activities. Moreover, the PEZ may not be able to target any particular industry or sub-sector unless it will be equipped with or provide some special setting or conditions necessary and suitable for such industry or sub-sector.
For overcoming such vulnerabilities, the following measures may be recommendable to be taken in the marketing activities:
Hiring experienced sales company or the talented and able marketing person, who has experienced the marketing activities for similar zones, from overseas for certain period
Explaining that the additional non-fiscal incentives, which are not applicable to other PEZ in Bangladesh, are available in the PEZ and emphasizing other strong points that the Port SEZ can offer
Simple and eased customs control
Eased procedures for duty exempt import
Peaceful and stable labour relations
Lower labour cost
Young workforce who are eager to learn
Vocational training centre established in PEZ
Aiming any industry which may fall into the screening criteria preset by the PEZ
Putting the utmost efforts on the invitation of the Japanese enterprises which may directly come from Japan or relocate from the neighbouring countries
Establishing the wide marketing network under the cooperation with and assistance from various overseas organizations
Trying to implement as many as possible the direct penetration activities to the overseas prospective investors under the cooperation with overseas cooperating organizations
Preparing the sufficient publicity materials and information on the PEZ and investment into Bangladesh that include the attractive website
To establish the overseas marketing network
Without any overseas network, it is rather difficult to find the good prospective tenants and to communicate with them. It is fact that taking into consideration of the foregoing marketing strategy and list of targeted investors and countries, PEZ is required to establish the marketing plan to find the prospective tenants even before developing.
In order to establish overseas marketing network, it may be worth targeting the following organizations to cooperate. In cooperating with such organizations, the repeated and seamless contact must be attained.
Japanese major trading houses which have developed and are operating the similar zones in overseas: Commission is said to be payable at the rate of 2-3 % of lease fee (or 1-3 months rental fee in case of shorter term) upon materializing lease contract, in case of inter-divisional transaction in the same company. In case of the PEZ, since it will be general transaction with outside organization, the commission rates may be higher, e.g. 5% up.
Investment and trade promotion offices of local governments in Japan
Foreign Chambers of Commerce and Industry located in Bangladesh
Chambers of Commerce and Industry located in foreign countries
Industrial associations in foreign countries
Foreign TPO (Trade Promotion Organization), of which activity include the investment promotion such as:
Japan External Trade Organization (JETRO), Japan
Department of Export Promotion (DEP), Thailand
Malaysian External Trade Promotion Corporation (MATRADE), Malaysia
International Enterprise (IE), Singapore
l
l Korea Trade-Investment Promotion agency (KOTRA),
l National Agency for Export Development (NAFED),
l Hong Kong and
- International donor such as ASEAN Centre
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