CANADIAN DIAMONDS

MARKET ENTRY ANALYSIS IN

BELGIUM

GLOBAL BUSINESS ENVIRONMENT

PROF. PETER CHUNG
PREM PRAMOD KUMAR. TEEGULLA
KISHORE KUMAR REDDY. VARAMPATI
RENU PRASAD. JETTY

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INDEX

Business environment

-------------

Marketing environment

-------------

SWOT

-------------

PESTE

-------------

GAP

-------------

Business Plan

--------------

10

Market Strategy

--------------

14

Market Entry Plan

--------------

16

---------------

17

Reference

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Overview of the Client:

This work is aimed at exporting Canadian diamonds to Belgium.
The diamond is mined by Diavik diamond in Canada and will be exported through our Belgium partners
Ajediam Ltd. Ajediam Ltd is a privately owned diamond company headquartered in Antwerp, Belgium.
With more than 25 years experience and more than 10 distribution and sales channels, the company is a
major player in the global diamond market and has been identified as a good partner in order to achieve
our monthly sales target of 100 carats and annual sales of 1200 carats of diamond to Belgium. This sales
target will be propelled by an initial investment capital of $10 million to enable us meet our strategic
goals and objectives with products values ranging from .25 carats to 3 carats of diamond.
Belgium (Antwerp) accounts for more than 60% of the worlds diamond. It has 80% shares in world
rough diamond supply and 50% share of world polished diamonds. It is a market with global business
presence with over 1500 diamond companies and 4 specialized diamond banks and Antwerp is the most
respected city in the diamond trade. Canadian diamonds are known for their high quality and they are
certified by the Kimberley process which gives it a competitive and qualitative edge in the global
market.

Business environment:
This business plan involves the sale and distribution of Canadian diamonds manufactured by
Diavik diamond to Belgium. Diavik diamond mine is the second diamond mine in Canada. Their vision
is to be one of Canadas premier diamond producers. This company is based in Canada and is looking to
increase its market share by expanding its operations to Belgium.
The target market is Belgium with the major distributors of diamond in mind. Belgium is the third
largest importer of worked diamonds, with a total of over 6 billion dollars which accounts for 12 percent
of the total world worked diamond imports
The nature of this business would be to export Canadian diamonds to Belgium with Diavik Diamonds
having the sole proprietorship rights and also represent the company in Belgium. Our strategy will be to
partner with the major Diamond distributors and big jewelry stores in Belgium.

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Our approach is not just to focus on a short term desire to sell but to focus on a more expansive time
scale that will deliver our products to our customers.
Canadian diamond is a fast growing Canadian company. The first diamond was discovered in the
Northwest Territories in 1991. Canadas diamond exports accounted for 95% of Canadian diamond
export trade in the year 2oo21 and 68% of total Canadian diamond trade. Diamonds are profitable
internationally however; Canadian diamonds have proven to be very desirable. The nature of the
business will be to export Canadian diamonds to Belgium, we plan on going into a partnership with
major distributors of diamonds in Belgium and some other big jewelry store.
Canada is third largest diamond supplier in the world and it produces 15% of the worlds diamonds
from last twenty years. In the diamond industry Canada has a leadership rule by following Kimberley
process along with other diamond producing countries. Canadian diamonds ensures the production of
diamonds with total obedience to environmental and ethical principles and good labor practices.

Contract Laws in Canada:

Sole proprietorships are the simplest kind of business to set up. If the business is established in
the name of the proprietor without adding any other words, it is not necessary to register the
business.
This kind of business is regulated by the provinces and if you choose to carry on the business under a
name other than your own, you must register with the province (except in Newfoundland and Labrador
where only incorporated businesses are required to register with the Provincial Registry of Companies
and Deeds).

Federal Corporations
A business operating nationally or in several provinces may find it useful to incorporate federally
under the Canada Corporations Act. Both private and public corporations can incorporate
federally.

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International Regulatory Framework

It refers to rulemaking activity by the governments and courts. The constitutions,
parliamentary laws, subordinate legislation, decrees, orders, norms licenses, plans, codes and
some forms of administrative guidance can all be consider regulations.
The use of regulation by governments has both costs and
benefits. The OECD estimates that the cost of regulation might be as much as 10% of GDP for
some countries. In light of such costs of regulation, many OECD countries are examining ways
to improve the cost-effectiveness of their regulations. Regulatory reform refers to changes that
improve regulatory quality. OECD classifies regulations into three types

Economic regulation: It can include restrictions on entrepreneurship, firm decisions over prices,
quantity, service, entry and exit, ownership restrictions, tariffs, quantitative restrictions, inward and
outward investment policies, antitrust regulations, and regulations of natural monopolies.

Social regulation: It can include protection of the environment, health and safety in the workplace,
protection of worker rights, rules for industrial relations (e.g., labour market regulations such as hiring
and firing restrictions), and protection of buyers from fraudulent or incompetent behaviour by sellers.

Administrative regulation: It can entail regulations relating to state control of legal framework
regulations, taxes, business operations, distribution systems, health care administration, and intellectual
property rights.
Product modification is compulsory because, to attract customers in other countries,
designs should be to theirs tradition and conditions and some globally famous designs should be
introduced to local conditions. For building business across global social networks, internet is the best
way. Creating face book pages, blogs, websites and online marketing, advertisement on famous
websites.
The right way to balance my product in market is, should be competitive in market and reasonable
about retail cost and distribution cost. The best way is publicity of product, to reach youthful market
celebrities and ambassador of the product should be famous locally, so that youth who follows the
ambassadors be aware of the product and if my product is worth of money then definitely it will reach to
youthful market. If thinking about small payments packages and products through large business then EMarketing is best and future business so I would prefer online shopping would get small payments
packages and products. Quick fixing of the holes finds more opportunities. As per the trend and
sophisticated changes in market i.e. online business, social networking sites will be helpful to grow
business in the market.
Relationship with dealers, depending on the services and products, deal should be
reasonable financially, and should reach the expectations of distributor. Hence we can create distribution
networks.

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OECD(Organisation and Economic co-operation and development) plays important role in our deal.
Canada and Belgium are two countries that took part of OECD.

Marketing Environment:
Diamonds are largely considered to be the most valuable gem in the world (not by actual value; high
quality rubies can often be worth more) but rather their value comes from demand and the cultural value
placed on them. Dating back to ancient Greece diamonds (and diamond jewellery) have been a symbol
of love; ancients believed they were hardened drops of dew, splinters from the stars or crystallized
lightening. There is little branding needed to sell diamonds; they are a brand all their own. Canadian
diamonds are clean certified and are very high quality; this gives Canadian diamonds a competitive edge
in the diamond market.
What sets Canadian diamonds apart from the plentiful competition is the quality associated with
Canadian diamonds. Canada has an excellent certification process; this ensures that the diamonds are
conflict free and they come with a laser inscribed number which can in most cases be traced back to the
mine which they originated from. All of these factors set Canadian diamonds apart from the competition
and give then a special niche in the diamond market.
Canadian diamonds, because of their high quality and certification, can be sold in many international
markets
Promotion:
The promotion method to be used for our services would be the use of Diamond exhibition
advertisement through various medium, television, and internet. The company will be in attendance in
different trade shows to display our products
The segmentation strategy would be to aim the sale of diamonds at men (women tend to look more than
they actually purchase) this can be done through promotions, sales and deals during holiday seasons.
However, it is generally women who the jewelry is being purchased for, so our products will be
marketed to women through the internet and other advertising mediums. We would also create posters
and brochures that will be showcased at different stores. Also our diamonds will be promoted/ marketed
as an investment as opposed to a purchase; diamonds are forever is one of the most well-known

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marketing phrases in the world. Marketing diamonds as an investment can often help reinforce the four
Cs of the diamond industry; color, cut, clarity and carats.
Pricing:
We would be using the premium pricing strategy to enter the market this is because Canadian diamonds
already are a brand all to themselves, they are widely known for their ``clean`` reputation as well as
being high quality and environmentally friendly. As mentioned earlier we estimated $10million CAD for
the start-up capital in order to meet up with certain standards
In order for our company to gain initial recognition in our target market at some point we will have to
work with flexible prices for our partners. This will be based on customers budget, demand.
Placement:
The Belgium partners will have the sole responsibility for placing the diamonds in the market. The
partners will manage their supply chain and ensure that the products are always available at the
warehouse or as demanded.
The Belgium partners will be responsible for insurance and freight, financing costs and shipping cost.
The responsibility of the Canadian company will be to take all the necessary orders and prepare the
Canadian documents needed.

Competitive and Environment Analysis:

SWOT Analysis of Canadian Diamonds
Strengths:

There will be high reputation for Research and development.

Canadian diamonds have more online growth.
It is a unique product.
There will be strong brand equity.
Canadian diamonds is a geographically diversified.
Quality of the product is very good.
Canadian diamond are environmental active and aware.

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Opportunities:

Innovation of unique products.

There is an increase in internet oriented consumers.
Canadian diamonds have fragmented competition in European market.
There is a huge services and product expansion.
Demand for Canadian diamond market increasing in industry.
Canadian diamonds have a demand for functional and stylish products.
Online market
Leverage of assets

Weakness:

Canadian diamonds have a low market share.

Growth management is not good.
They have only limited experience in some diamond markets.
Core competencies diverting attention of Canadian diamonds
Internal controlling on some financial reporting.
Different rates of loan outstanding

Threats:

Threat from external changes like politics, government and taxes etc.
Fluctuations of the exchange rate
Introduction of the new product by competitors
Poor performance of retailers result in risk for Canadian diamonds
There will be threat from economic slowdown
Maturing products, categories or services
Substitution of new products

PESTE ANALYSIS OF BELGIUM

POLITICAL

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Stable Government and an active member of European Union (E.U)

Belgium operates a federal parliamentary Democracy
Legislations support an open market
Tax exemption laws for foreign investors
Legal protection on Intellectual property rights

ECONOMIC

Low Inflation rate of less than 3%

Belgium has a population of 10 million people and over 50% labour force.
Ranked high in diamond market with over 27,000 people employed
Belgium has a strong and developed banking system
3rd largest importer of diamond in the world
It is the headquarters of E.U Institutions

SOCIAL

A multi-cultural society with Flemish, French and German as the major languages
Increased spending power of its population
High regards for diamonds and pearls as a sign of social status
Christianity is the major religion

TECHNOLOGICAL

Highly developed telecommunication network

Over 80% or 8 million of the population have ready access to phone and internet
Belgium has good airports and good transport system, as well as water transport
High on research and development in diamond market

ENVIRONMENTAL

Air pollution and water pollution are major factors of Belgium

But, my business doesnt effect by environmental issues.

GAP:
For major markets, the company typically enters with brand-building flagship stores, followed by
Outlet and smaller stores in outlying areas and an online expression of the brand.
Clear policies, standards and management systems ensure the global values, which includes justice.

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Global citizenship is an important source of business value for HP. Our efforts enhance our reputation,
strengthen our relationships with customers and other stakeholders, open up new market opportunities,
and stimulate innovation and creativity. Our investments in this area strengthen our business in
numerous ways. Global citizenshiprelated business value drivers include the following:
Access to capital Investors increasingly consider global citizenship programs and performance in
investment decisions.
Competitiveness Leadership in global citizenship builds trust with customers, spurs innovation, and
helps us identity opportunities for growth.
Cost savings Energy efficiency and other conservation efforts in our operations and those of our
suppliers reduce costs and increase productivity.
Customer insight Global citizenship helps us understand and meet customer expectations in areas such
as product environmental performance, privacy, and supply chain.
Employee engagement By demonstrating a commitment to global citizenship and actively engaging
employees in volunteering projects, we instill pride in HP as a company that matters, helping us attract
and retain the most talented workforce.
External engagement Engaging with stakeholders brings insight into emerging trends, risks, and
opportunities.
Influence Global citizenship gives us a powerful voice on issues that are vital to our industry, our
customers, and the world.
Innovation We sharpen our competitive advantage by developing ground breaking technology that
improves the lives and businesses of people around the world, and helps to solve challenges in
environmental sustainability, education, and health.
Market access preparing for upcoming legislation, participating in public policy discussions, preserving
our record of legal compliance, and innovating and collaborating to meet societal needs help us maintain
access to markets.
Reputation management Leadership in global citizenship enhances our reputation with customers,
governments, nongovernmental organizations, investors, and others.
Risk assessment and reduction focusing on global citizenship helps us reduce risks to our operations and
those of our suppliers and other business partners

Business Plan:
The functional goals of the Logistics department

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The management of our logistics comes into place when we need to talk about the inventory system and
the transportation system. The transportation system for our product will be the use of transport
contractors. The logistics and inventory department will ensure the following in order to achieve the
business goals and objectives
They will ensure that on the arrival of the diamonds, the Belgium transport firm will declare the goods at
the customs department in the airport after which the dealer will be notified

Adherence to regulations and strict compliance to standards

Ensure the smooth operations and enforce work ethics.
Laise with our Belgium partners for easy transfer of goods
Develop proper procedures for daily operations and monthly assessment

The functional goals of the finance department

Financial planning is vital in the diamond business. This is the department charged with the
responsibility to reduce cost and monitor the financial trends of the market and it will be responsible for
guiding the business into viable investment and determine what the best option will be. This will ensure
that the business remains profitable and maintain a good financial relationship with the banking and
financial institutions that are involved within the market.
Below are the major functions of this department
Developing profit maximization strategies to achieve the business goals.
Determine a financial plan and making funds available for the business by assessing the best

sources of funds either through shareholders, banks, investors or other means.

Cost estimation of all businesses
Preparation of balance sheets
Performing accounts audit biannually
Keeping proper records of the cash flow statement monthly
Analyzing and monitoring the financial activities of the business on a monthly basis

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Financials:
Startup expenses:
To start the Canadian diamonds business in Belgium, the startup capital would be $10 million CAD. The
following are the assumptions for the Canadian diamonds business in Belgium
Particulars

Explanation

Startup capital

Initial

Initial ground work

Belgium
Business

Amount

investment

in $10 million CAD

Analysis

In $30,000 CAD

Belgium market
Insurance

10%

of

the

Initial $1 million CAD

investment
Marketing

Promoting

and $200,000 CAD

advertisement expenses
Transportation

Shipping

and

other $500,000 CAD

Bank charges

transportation costs
Bank transactions and other $20,000 CAD
bank fees

Business License

Starting business licensing

$5000 CAD

Partnership expenses

Distribution and supplying

$2 million CAD

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Other expenses

$100,000 CAD

1st year sales estimations:

The Canadian company, at the end of the first year estimated sales would be $30 million. The prices
below is all in Canadian dollars (CAD)
Types
Diamonds
.25 carat

of Breakdown
500

Estimated

Monthly estimate

Annual Total

units $600 per unit

500*600= $300,000

$3,600,000

units 2500 per unit

250*2500=$625,00

$7,500,000

monthly
1 carat

250
monthly

2 carat
3 carat

100
monthly
50
monthly

Total

Justification of pricing:

0
units 6000 per unit

100*6000=$600,00

$7,200,000

units 18000 per unit

0
50*18000=$900,00

$10,800,000

$29,100,000

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As Belgium people are more interested in buying diamonds. I think Canadian diamonds will reach there
expectation by following factors:

Canadian diamonds are best in quality

Breakdown of the prices for each carat is so reasonable for Belgium people
The high rate carat quality attract people by breakdown of low prices
Assuming rich people can buy good quality diamonds for their wealthy status

Legal and regulatory

Belgium has embraced free trade since its membership with the European Union began; along with
being a member of several trading blocs Belgium is also part of 20 bilateral trade agreements with
nations (including Canada). However even free trade is not entirely free; any country exporting to
Belgium that is not an EU member nation faces import duties as well as a value-added tax (VAT).
Depending on the product these additional taxes cost on average 5-6 percent of the total value of the
product; this leaves non EU members at a price disadvantage 2. There are also non-tariff trade barriers
that exist within Belgium such as Non- agricultural and manufacturing subsidies, quotas (agricultural
products), import restrictions and bans for some goods and services, market access restrictions in some
services sectors, non-transparent and restrictive regulations and standards 3 .The mean tariff rate for all
goods is 1.50 percent; the cost to import (US$ per container) is 1600 dollars
The Belgian government provides protection for intellectual property. This protection takes on various
forms such as copyrights, patents, trademarks, models and plant breeders` rights; they provide protection
and exclusive rights to the titleholder for a designated period of time 4
The government grants equal treatment for foreign businesses under the law as well as special tax
inducements and assistance5 As a member of the European Union Belgium also supports the TRIPS
2 Encyclopedia of the Nations, Belgium International Trade
3
4
5

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declaration (trade related aspects of intellectual property rights)6 , as well as being a member of WIPO
(World Intellectual Property Organization) which promote intellectual property rights internationally.
Belgium is involved in OPEC, NATO and EFTA . These trading blocs give Belgium access to a majority
of the world market and vice versa.

Marketing Strategy:
Distribution and Product strategy
To actualize our goals and objectives our marketing and distribution plan will be
directed at a cost effective and result oriented partnership arrangements.
Given the nature of the diamond market as a highly controlled market segment, we have decided to enter
the Belgium market through a partnership/distribution pact with an established diamond dealer with
local presence and global knowledge.
Ajediam Ltd is our partner of choice with more than 25 years of market experience in the diamond trade.
It is headquartered at the world diamond Centre in Antwerp Belgium. The company is committed to
processing high quality rough diamonds to fabulous jewelry, while ensuring that all industry standards
are maintained with the customer satisfaction of paramount interest to Ajediam Ltd. Having a good
distribution network, good logistics and a firm and increasing customer base, Ajediam is a firm with
local presence and a recognized player in the global diamond market. This expertise will be leveraged
upon in terms of transportation and security of the rough diamonds from Canada to Belgium, as they
already have an existing transport and logistics partner for the transportation of its rough and polished
diamonds globally (from us and end user alike) while also possessing a good array of potential
distributors to increase the chains in the near future.

GOALS

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The Functional goals of the Sales department:

This functional goals can help Canadian Diamond company to implement all the effective strategies
which would improves the sale revenue. The main goal of the sale department is to determine all the
possible business achievement of milestones and send notifications to other functional department to
work accordingly with them. The goal of the Canadian diamond sales is $30 million in the one year by
the end of 2013. Sales department main objective is to generate the sale revenue at the point of regular
intervals of the business. Firstly, Canadian Diamonds sale department will focus on short term sales
target in Belgium. Secondly, sale department work hard to achieve the short term sales to long term sales
to actual position in the Belgium Diamond market. Some of the key important goals of the sales
department are follows:
Sales department will be checking all sales revenue at the regular business intervals and
informing about present situation about Diamond market to other functional departments in each
and every month.
Motivating and educating sales staff about diamonds qualities and characteristics.
Selecting a high level sales team in a particular period, to improve sale revenue.
Analyzing the competitors sales data at the present position in the market, and implement their
strategies in our business to improve sales.
Setting up original sales targets and working hard to achieve those sales targets.
Training the sales staff on key sales techniques, skills and attitudes in three weeks of time.

Market Entry Plan :

Our entry strategy into the Belgium market will be partnership with Ajediam ltd,
a privately owned diamond company in Belgium with over 10 distribution channels and sales outlet
within the country. Using this strategy will be the most cost effective way to gain access to the Belgium
market and also a less risky way to do business particularly in Antwerp. The market presence of the
partners will ensure that our diamond gets accepted and easily sold across an already existing customer
base. Once the brand is established within the market other strategies can be added such as sales offices
to boost local presence and increased distribution network.
Ajediam Ltd already has an existing transport system with a 25years experience that allows for the safe
transportation of diamonds to users around the globe, thus the transportation of the diamonds to Belgium

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will be done in alliance with our partners Ajediam Ltd. This will ensure that the cost of transportation is
kept at bay and the fact that the Canadian diamonds exported are high quality and certified by the
Kimberley process, our diamonds will meet the necessary market standards and remain attractive to our
prospective customers.
This entry strategy also places us in a better position to deal with issues such as intellectual property
rights and expropriation risk. By leveraging on the business expertise and infrastructures of our partners
we can determine the demand for Canadian diamonds and work to increase demand to meet our goals
and objectives before taking further decisions to invest directly into the market.

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