Marketing intelligence and early stage promotion activities for the HIgh ADded value products EXport (Q4300493)
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Project Q4300493 in Latvia, Estonia
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Marketing intelligence and early stage promotion activities for the HIgh ADded value products EXport |
Project Q4300493 in Latvia, Estonia |
Statements
253,358.86 Euro
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298,069.25 Euro
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85.0 percent
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1 May 2017
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31 October 2018
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Tartu Science Park Foundation
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58°21'22.68"N, 26°40'44.87"E
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56°57'19.51"N, 24°6'58.61"E
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56°57'8.53"N, 24°7'21.65"E
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Project’s background: The business environment in the programme area is characterized as a rather passive. Most of existing SMEs are relatively small, and also domestic market is quite small; therefore, expansion of export opportunities is crucial to ensure sustainable development. Insufficient knowledge and skills in strategic planning and capacity building as well as lack of adequate information regarding external markets and skills to conquer them are bottlenecks that hinder the growth of SMEs. The project aims to support SMEs to expand internationally through joint cross-border actions. The project activities are designed to increase the export capability of EE and LV producers of high added value products by building marketing intelligence on the Malaysia’s and Singapores market and implementing early-stage promotion activities there. Project will support development of selected smart specialization area in both programme countries and contribute in raising the EU presence on the global market. For gathering experience, pharmacy and its products for prevention and treatment of digestive system diseases (DSDs) are chosen as case area. Partners are operating more than 15 years and continuously develop their competences to ensure their financial and institutional sustainability. Since the embargo imposed by Russian and the unstable geopolitical situation, many of existing businesses are forced to search for new export markets. Malaysia and Singapore are one of the export markets of interest in the Baltics considered to have a good potential. Therefore, the HIADEX will contribute both - SMEs to expand in a new export market and project’s partners to develop necessary experience and knowledge to provide demanded services, influencing export activities in different sectors. Cross-border nature: In most of cases, EE and LV are too small to compete individually for distant export markets and provide high production volumes to satisfy the market demand. By combining resources and sharing knowledge between countries, it is possible to capture export opportunities and make it profitable. The HIADEX project will provide a basis on how to increase export capability and reach new markets through cross-border partnerships, joint marketing actions and pooling of resources. Project will strengthen cooperation between both countries and activate sharing or resources and information. HIADEX is designed to combine mutually complementary knowledge and competences of project partners to provide support to EE and LV producers representing pharmaceutical and nutritional industry in the programme area for reaching new export market. Unique expertise of each project partner will create synergy to accomplish the project goals and to fill the competency gaps that hinder export to Malaysia and Singapore. With the cross-border partnership it will be possible to develop product portfolio that consists of a comprehensive range of products covering both prevention and treatment of DSDs. As a result in long term, the competitiveness and activity of SMEs in the programme area will improve allowing to create more jobs, increase turnover and attract more investment. During the project the recommendations for export to chosen markets for other industries will be developed thereby helping EE and LV producers from other industries to expand internationally through joint cross-border actions. The project partners will increase their institutional capacity and consequently will improve their quality of services to support enterprises for export development. Objective: The main objective of the project is to increase export capability of EE and LV producers of high added value products for prevention and treatment of DSDs by building marketing intelligence on the Malaysia’s market and implementing early-stage promotion activities. The project is designed to combine mutually complementary knowledge and competences of project partners to provide support to SMEs in the programme area for reaching new export market. Taking pharmaceutical and nutritional supplement industry as an example it is expected to develop guidelines for export to Malaysia and Singapore that will be applicable for other industries and to increase project partners’ institutional capacity to improve their quality of services and to support enterprises for export development. Main activities: The work plan of the project consists of 4 work packages each consisting of specific activities: Project management; Building marketing intelligence on the Malaysia’s and Singapores markets, i.e., analysing market, developing market entry strategy; Development of a joint product portfolio for export to Malaysia and Singapore and marketing (promotion) materials; Early-stage promotion activities in Asia like fairs and B2B meetings to establish trade links and to promote selected products. The marketing intelligence on the target markets will be built by carrying out research of pharmaceutical (English)
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