Management Expert | Business Development Specialist | Strategist | Team Builder | Mentor
Embedded Files
Shelldince Victor is a seasoned and skilled consultative business development professional with over 19 years of experience working across multiple countries, including India, Kuwait, South Korea, and Qatar. He has acquired a wide range of skills in customer relationship management, communication, negotiation, and strategic planning from working in diverse environments and handling a wide spectrum of products and services.
Throughout his career, Shelldince has held several high-level positions, which reflect his professional expertise and experience. Some of his key roles include Senior Manager - Business Development at the Commercial Section of the Embassy of the Republic of Korea (KOTRA) in Qatar, Business Development Manager at Petrofac Qatar W.L.L. in Qatar, Director - Business Development at VEISS Business Consultants LLP in India, Senior Manager - Global Business Management at BNF Technology Inc. in South Korea and Commercial Manager at the Commercial Section of the Embassy of the Republic of Korea (KOTRA) in Kuwait.
Shelldince's academic background includes a Master's degree in Business Administration (MBA) with a specialization in Marketing and Human Resources Management from Bharathiar University in Tamil Nadu, India, and a Bachelor's degree in Computer Science from the same university. He has also undergone several trainings and certifications, such as the Associate Value Specialist (AVS) certification from the Society of American Value Engineers International in the USA and the Innovation Readiness Series certification from IC2 at the University of Texas in the USA. Additionally, Shelldince has taken trainings on industrial supplies, industrial batteries, industrial hoses, and internal auditing. Currently pursuing a PhD in Management, he is a dedicated professional with a passion for continuous learning, aiming to further enhance his expertise and contribute to innovative business strategies."
What am I specialized in?
Business Development - New Market Penetration
New market penetration is a crucial strategy in business development, aimed at expanding a company's reach and increasing its customer base. This approach involves entering new geographical regions or targeting different segments within existing markets. Here’s an overview of the key aspects from a business development perspective:
Market Research and Analysis
Strategic Planning
Product or Service Adaptation
Marketing and Promotion
Sales Strategy
Monitoring and Evaluation
Risk Management
Market Research and Analysis
Market Research and Analysis
The first step in new market penetration is conducting thorough market research and analysis. This involves understanding the target market's demographics, preferences, and buying behaviors. Identifying potential competitors, market trends, and any barriers to entry is essential. This data helps in formulating a strategy tailored to the new market's unique characteristics.
Strategic Planning
Strategic Planning
Once the market research is complete, a comprehensive strategic plan is developed. This plan outlines the objectives, target audience, positioning, and marketing strategies. It includes setting clear, measurable goals and defining the metrics for success. The plan should also consider the resources required, including budget, personnel, and technology.
Product or Service Adaptation
Product or Service Adaptation
Adapting products or services to meet the specific needs and preferences of the new market is often necessary. This might involve modifying features, pricing, packaging, or branding to align with local tastes and standards. Ensuring that the offering resonates with the new audience increases the likelihood of successful market penetration.
Marketing and Promotion
Marketing and Promotion
Effective marketing and promotional strategies are vital for gaining visibility and attracting customers in the new market. This can include digital marketing, social media campaigns, local advertising, and participation in industry events. Building partnerships with local businesses or influencers can also enhance credibility and reach.
Sales Strategy
Sales Strategy
Developing a robust sales strategy is critical for converting interest into sales. This may involve setting up local sales teams, training staff on the unique aspects of the new market, and establishing distribution channels. Providing excellent customer service and support is also crucial for building trust and loyalty.
Monitoring and Evaluation
Monitoring and Evaluation
Continuous monitoring and evaluation are essential to measure progress and adjust strategies as needed. This involves tracking key performance indicators (KPIs), gathering customer feedback, and staying updated on market dynamics. Regular reviews help in identifying areas for improvement and ensuring that the market penetration efforts remain on track.
Risk Management
Risk Management
Entering a new market comes with risks, including cultural differences, regulatory challenges, and economic fluctuations. Developing a risk management plan to anticipate and mitigate these risks is crucial. This might involve conducting scenario planning, diversifying investments, and maintaining flexibility in operations.
Page updated
Report abuse