In the current economic climate all exporters are looking for new markets, an opportunity that arose was for Steber International to explore and test the market in Brazil
In the current economic climate all exporters are looking for new markets and Steber International is one company taking a proactive approach to exploring opportunities. An opportunity that arose was for Steber International to explore and test the market in Brazil.
Brazil is one of the “big four” (Brazil, Russia, India, China – BRIC) emerging markets observing a similar stage of newly advanced economic development. Many expect it to represent one of the world’s largest potential markets in the nautical sector which can be explained by the climate conditions and the fact that the country has a coastline of 7.840km with 17 States, 395 municipalities and 40 million inhabitants.
“Brazil, because it’s one of the world’s fastest growing markets, promises wonderful opportunities for Australian exporters” says Alan Steber, Managing Director, Steber International, one of Australia’s most successful boat builders. Alan Steber went on to say “Brazil is a very complex place in which to do business, with lots of unknown traps for the inexperienced exporter”. Good upfront research which identifies not only the market dynamics but importantly the business culture is a critical factor.
Steber was selected by the University of Sydney who in February 2012, will take five teams of three to four final year Masters’ students to Brazil to undertake market research for five members of the Australian Institute of Export all of whom have identified Brazil as a potential export opportunity”. Steber is the only marine industry company selected.
The projects Academic Advisor is Professor Sid Gray, Head of International Business at the University of Sydney. Professor Gray said “It won’t be a walk in the park or two weeks taking in the sights of Sao Paulo, it’s going to be full on in Brazil and during the briefing sessions which essentially start now”. These briefings started last week for the team undertaking the research for Steber with the students visiting the Steber business in Taree, meeting the key people and getting a thorough understanding of Steber International and their boats. Looking at their competitive advantage and of course their financial ability to meet the likely demands of building a business in Brazil. At the end of the project the students will be required to deliver a presentation and submit a report for assessment.
Alan Steber was impressed by the team who visited his business stating: “the three participants were very excited and I must say I was too. The three of them should network well. We all talked till midnight on Friday night then up at 6am for the factory tour and then on board a boat in the river. The team was given an array of Steber marketing materials to take with them. I look forward to the outcomes.”
This is a great initiative and a great opportunity for an Australian company to investigate the opportunities in this market for their products.