Michels Patisserie - Vide Case Study

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Lessons
 learnt
 form
 video
 case
 studies
  • If
 business
 has
 large
 market
 share
 in
 Australia
 (i.e.
 Michel’s
 Patisserie),
 necessary
 to
 look
  internationally
 for
 future
 growth
 opportunities
  • Important
 to
 properly
 assess
 number
 of
 different
 markets
  • Depending
 on
 nature
 of
 product,
 it
 is
 generally
 valuable
 to
 expand
 into
 an
 English
  speaking
 country,
 which
 is
 either
 culturally
 similar
 to
 Australia,
 or
 open
 to
 western
  culture,
 has
 stable
 government,
 and
 has
 a
 similar
 legal
 system
 (particularly
 for
 franchise
  agreements)
  • Luxury
 products
 –
 instead
 of
 looking
 at
 just
 population
 size,
 should
 also
 look
 at
 income,
  and
 consumption
 patterns
  • Be
 prepared
 to
 change
 products
 and
 business
 model
 in
 the
 foreign
 market
 if
 an
  Australian
 approach
 is
 not
 working
  • Educate
 customers
 of
 products
 (especially
 if
 culture
 is
 not
 aware
 of
 western
 products
 
  i.e.
 cake
 and
 coffee
 from
 Michel’s
 Patisserie
 in
 Shanghai
  • Exporters
 sometimes
 face
 enormous
 costs
 in
 setting
 up
 ventures
 internationally,
 such
 as
  Katherine
 Brimblecombe-­‐Fox,
 however
 she
 was
 able
 to
 enlist
 the
 help
 of
 Austrade
 and
  other
 export
 agencies
 to
 help
 her
 in
 terms
 of
 monetary
 grants
 and
 advice
  • Luxury
 items
 (such
 as
 Katherine
 Brimblecombe-­‐Fox’s
 paintings)
 do
 well
 in
 wealthier
  markets
 (i.e.
 London
 and
 Dubai),
 therefore
 it
 is
 important
 to
 properly
 research
 potential
  markets
 on
 a
 number
 of
 different
 characteristics
 to
 increase
 chances
 of
 success
  • Domestic
 success
 is
 considered
 an
 important
 factor
 in
 international
 success
 as
 products
  have
 been
 road
 tested
 first
 (i.e.
 Aromababy)
 but
 this
 is
 not
 always
 the
 case
 if
 the
  products
 are
 designed
 to
 be
 global
 from
 the
 beginning
 (i.e.
 Julianne)
  • Over
 long
 term,
 reactive
 approach
 to
 exporting
 is
 not
 sustainable
 (i.e.
 Aromababy)
 due
  to
 complexities
 of
 international
 expansion
 and
 therefore
 to
 deal
 with
 both
 domestic
 and
  international
 sales
 it
 is
 important
 to
 plan
  • As
 interest
 grows
 internationally,
 it
 is
 important
 to
 be
 systemic
 and
 plan,
 especially
  when
 trying
 to
 break
 into
 difficult
 markets
 such
 as
 America
  • Important
 to
 protect
 IP
 however
 possible
 in
 the
 countries
 you
 are
 dealing
 with
  • Having
 a
 strong,
 trusting
 relationship
 with
 distributors
 is
 the
 best
 defence
 against
  competition,
 because
 most
 of
 the
 time
 it
 is
 inevitable
 that
 competitors
 with
 produce
  similar,
 cheaper
 products
  • Important
 to
 foster
 relationships
 through
 face-­‐to-­‐face
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