CASE STUDY: Sun Mark Limited – finalist for the Grocer Gold Awards Exporter of the Year
Sun Mark Ltd. produces its own range of products in the grocery, cereal, soft drinks, and household toiletries sectors. The company is also an export management specialist in emerging markets for not only their own label products but also for International blue chip companies.
Export success story
- The company exports British supermarket products to over 100 countries with staggering results and with highly effective market penetration.
- The total turnover for the business from 31/8/2009 has risen from £59.6 million to 142.3 million on 31/8/2012 representing an increase of 139%.
- Has been awarded the most coveted award for business, the Queens Award for Enterprise in the years for the unprecedented 4 years in a row.
- In 2011, Sun Mark was added to the prestigious Sunday Times Profit Track 100 at position 33, featured again in 2012 in position 25 and with another listing in 2013 it is only the seventh company to have been featured for three years running emphasizing the company’s contribution to the British economy in terms of profitability and taxes.
Secrets to their success in the global market
1/ Establishing new and niche markets
Despite the adverse economic conditions worldwide the Company did not take a defeatist attitude when there was a possibility of sales starting to slump but started establishing new markets in a bid to compensate for any loss of sales. A market can be small for a company like Unilever but nonetheless a sizeable niche market can in due course grow to become significant. Sun Mark helps develop such markets and have gone from being just one of their distributers for them in the UK to being appointed their sole distributor because of their ethical working practices and success.
The marketing conditions in some countries can be difficult due to factors such as political instability, poor infrastructure and legal bureaucracy. The returns yielded in such markets lead to low returns on investment and hence make them unattractive for large companies. The unfamiliar culture in these types of markets can make business very difficult but as a specialist, Sun Mark brings this additional business to Britain which would have easily been lost to other countries.
2/ Forging strategic alliances with overseas companies
We acknowledge that in today’s world, business is about mergers, acquisitions or strategic alliances. Sun Mark does not believe in merging or acquiring companies in order to grow its business. Instead, we forge strategic alliances with overseas companies in order to market our products abroad. We find this to be the most effective method. It not only saves us money, as we do not have to establish our offices in various countries, but also gives us the benefit of local knowledge which our strategic partners have acquired over decades. We, as a result, can establish products in many countries simultaneously with the minimum of effort by plugging into the distribution channels of our overseas partners
3/ Quality but value products and services
The company has grown significantly over the last decade as a result of high quality customer service, value for money pricing and excellent quality products.
4/ Expanding product range
We have also continued to add to our range of products. As an example of this, the company has added baby cereals to its product portfolio to attract more share of the market. Golden Country Baby Cereals were launched to provide high quality baby food in developing countries where people can ill afford high end branded products where much of the cost includes a massive marketing and promotion budget. This alternative is of the highest quality and packed with vitamins at affordable prices. Sun Mark’s continued and increased participation in exhibitions overseas in regions like Europe, Asia, Middle East, Africa and the Caribbean helps generate orders in new markets.
Investment has been made by the company in a manufacturing plant enabling the safeguarding of quality, supply and prices of its products being filled there.
The company has also invested a huge sum of money in renovation and expansion of their current premises to increase storage space, have better movement of cargo, and more office space to accommodate their growing team.
The company motto is “We only succeed when our customers succeed”; Sun Mark works hard for the success of its customers as their success is in fact the company’s success. Sun Mark supplies to its customers high quality products at a price that is right all over the world and does it very well.
For further information
- Sun Mark – http://Sunmark.co.uk/
- The Grocer Gold Awards – http://www.thegrocergoldawards.co.uk/
- Food policy of Department Environment, Food and Rural Affairs – https://www.gov.uk/government/topics/food-and-farming