INTERNATIONAL GUEST LECTURE BY MR. MICHEAL ASHFIELD

A lecture was organized on March 19,2009 for IInd Semester Group - I and II students by International Visiting Faculty Mr. Michael Ashfield from UK on the topic "The European Market: Why and How to Enter". Mr. Ashfield stressed on the need of diversifying the export market by the Indian Manufacturers to UK which offers better prices for the products. Deeper thrust in International trade provides benefit of economy of scale and improvement in their quality by adopting International standards. This also enables a company to improve the product quality for Indian Market and transform itself by emulating World Standard practices. Lala Shri Ram of DCM group and Tatas were more smarter among Indian Business houses, who diversified their Marketing to UK long ago.

Tata's acquisition of Tetiey, Corus and Jaguar and land Rover provided them opportunity to expand their Market in UK in particular, and other European Countries in general. According to him Japanese and Chinese businessmen are much more enterprising and have captured the UK and European markets much earlier. The Common Business man in India suffers from inferiority complex and lacs in quality, service, delivery and design acceptable in UK Market. They generally offer price cuts which is not a healthy marketing strategy for developed Markets.

European buyers including UK give preference to quality, service, delivery and design of a product rather than its price. UK companies prefer long term relationship, reliability and trust as compared to price cuts. It is always advisable that an Indian manufacturer targeting UK Market should maintain a local warehouse in order to ensure timely delivery of products. For Europeans time has more value than money and therefore just-in-time delivery is always appreciated.

There is enormous difference and diversity in the age structure of European buyers. India has larger population of youth and children as compared to developed countries. UK population is concentrated in cities and other clusters. unlike India where population is scattered in a large geographic area. Even Europe can not be considered as one Market because it has enormous difference and diversity among countries. Marketing strategies for UK and EU, therefore, has to be a lot different from Indian market.

The floor was then opened for question - answers. The students clarified many of their doubts and misconceptions about UK and European Markets. The lecture was appreciated by the students.