Export Management of Nuraphone in Australia: Market Analysis and Strategies

This report analyses the export capability and readiness of Nuraphone in Australia. It includes market position, target customers, product specifications, micro environment analysis, and marketing strategies.

Running Head: EXPORT MANAGEMENT
EXPORT MANAGEMENT
Name of the Student:
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Author Note:

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Executive summary
The Nuraphone Company is highly popular for its creativity and effective marketing strategies.
Although the company belongs to the medium scale industry but it does not affect its market
capitalisation. One of the major factor behind its renowned brand image is the innovative ideas
that carry forwarded the legacy outstandingly. In this aspect, this report tries to figure out the
condition of Nuraphone in Australia. For creating a better understanding the report is going to
take help of the analytical tools like PESTLE and SWOT and for the market approach seeks help
of the marketing mix. Moreover, the financial and legal considerations are also played a
significant role that provide a clear insights of the pros and cons of the organisation. In a
conclusion it can be argued that despite of having a number of issues regarding the growing
inflation rate in Australian and the high competitive market the Nuraphone Company will able to
retain its market due to innovative products and effective marketing strategy.

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Table of Contents
1.0 Introduction................................................................................................................................7
2. Export Capability and Readiness.................................................................................................7
2.1 Organisational Background and product specifications........................................................7
2.2 Competitive Advantage.........................................................................................................8
2.3 Market Position......................................................................................................................9
2.4 Target Customers.................................................................................................................10
2.5 Product Specifications.........................................................................................................10
2.6 Market Distribution.............................................................................................................11
2.7 Micro Environment Analysis...............................................................................................11
Strengths................................................................................................................................11
Weaknesses............................................................................................................................11
Opportunities.........................................................................................................................12
Threats...................................................................................................................................12
2.8 Production Capacity.............................................................................................................13
2.9 Staff Resources/ Expertise...................................................................................................14
2.10 Financial Capacity.............................................................................................................14
2.11 Porter’s Value Chain..........................................................................................................14
1. Inbound Logistics..............................................................................................................14
2. Operations..........................................................................................................................14

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3. Outbound Logistics............................................................................................................15
4. Marketing and Sales..........................................................................................................15
3.0 Export Market, Research, Screening & Selection...................................................................15
3.1 Export Market analysis........................................................................................................15
3.2 Competitive Situation..........................................................................................................15
3.2.1 UK market....................................................................................................................15
3.2.2. Middle East..................................................................................................................16
3.3 Outline of plans for dealing with restrictions of Entry into Market:...................................16
3.4 Regional Trade Agreements................................................................................................16
3.5 PESTLE analysis.................................................................................................................16
Political..................................................................................................................................16
Economical............................................................................................................................16
Social.....................................................................................................................................16
Technological........................................................................................................................16
Environmental........................................................................................................................16
Legal......................................................................................................................................17
4.0 Marketing Strategy and Marketing mix...................................................................................17
4.1 SMART Sales and Financial Export Objectives.................................................................17
4.2 Product Suitability and product adaptation..........................................................................17
4.3 Language- issues/ solutions.................................................................................................17

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4.4 Labelling..............................................................................................................................18
4.5 Point of purchase/ market coverage.....................................................................................18
4.6 Export pricing and costs......................................................................................................18
4.7 Promotional campaigns.......................................................................................................18
4.8 IMC plan..............................................................................................................................18
4.9 Endorsers.............................................................................................................................19
4.10 Exporter/ Importer responsibilities....................................................................................19
5.0 Incoterms.................................................................................................................................19
5.1 Term choice.........................................................................................................................19
5.2 Responsibility of the buyers and sellers..............................................................................19
6.0 Logistics Management.............................................................................................................20
6.1 Organization’s Supply chain mix........................................................................................20
6.2 Transportation mode and carriers........................................................................................20
6.3 Cost composition and timing...............................................................................................21
6.4 Roles, responsibilities and services of chosen freight agents..............................................21
6.5 Cargo insurance...................................................................................................................21
6.6 Terms of delivery.................................................................................................................21
7.0 Trade documentation...............................................................................................................22
7.1 Bill of landing......................................................................................................................22
7.2 Commercial invoice.............................................................................................................22

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7.3 Package list..........................................................................................................................23
7.4 Government certificate........................................................................................................23
7.5 Health and dangerous goods certificate...............................................................................23
8.0 Export risks and legal considerations......................................................................................23
8.1 legal risks.............................................................................................................................23
Consumer satisfaction............................................................................................................24
Description of the goods........................................................................................................24
Legal compliance...................................................................................................................24
Sellers responsibilities...........................................................................................................24
Advertisement........................................................................................................................24
Unfair terms...........................................................................................................................25
8.2 Contract terms......................................................................................................................25
8.3 IP protection.........................................................................................................................25
8.4 Insurance..............................................................................................................................25
8.5 Others...................................................................................................................................26
9.0 Financial export transactions and obtaining payment.............................................................26
9.1 Finance requirements...........................................................................................................26
9.2 Payment options...................................................................................................................27
9.3 Currency decision and management....................................................................................27
10. Conclusion...............................................................................................................................27

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Reference.......................................................................................................................................29
Appendices....................................................................................................................................33
Appendix 1: Ansoff Matrix.......................................................................................................33
Appendix 2: Market entry barriers............................................................................................34
Appendix 3: Trade Agreement..................................................................................................34
Hereinafter collectively referred to as the Parties......................................................................35

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1.0 Introduction
The Nuraphone is considered to a renowned Australian company that is popular for its
headphone products. The best part of this headphones is that it generates some tones known as
Otoacoustic Emission that is based on the tone ranges that are played into the ear. This sound is
about 10,000 times smaller than the sound that went in. As a result of that the person who is
listening music through the headphone can get a better experience in terms of both the quality of
service as well as the clarity. In this regard, it is important for the report to identify all the aspects
regarding the Nuraphone and figure out all the essential parts of the product. As a matter of fact,
the purpose of this report is to get a clear idea regarding the product and its details and also tends
to deal with the legal and risks documentations of the Nuraphone. Moreover, the report also
incorporates a number of marketing mix strategies and PESTLE analysis to understand the
opportunities that the product creates in the Australian market as well as in the international as
well.
2. Export Capability and Readiness
2.1 Organisational Background and product specifications
The Nuraphone is a major product of the Australia based consumer electronic production
organisation. This is a recent organisation established in 2015, with headquarters in Brunswick
and Melbourne of Australia. The chief management of the organisation comprises of Dragan
Petrovic, the CEO of the company and the CTO, Luke Campbell. Nuraphone headphone series is
the chief as well as the pilot product of the company. Receiving initial funding from the Trike as
well as MedTech in the company, the company started developing prototypes including the

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proprietary technology based on monitoring and control of otoacoustic emissions. The cochlear
implantations in the device that controls the auto acoustic emissions is the USP of the product
also. The two campaigns of Nuraphone namely the Crowd funding campaign and the venture
campaign helped the company in the days of initial production. The crowd funding campaign
was a major hit and the company was able to gather $100,000 (USD) within a span of 14 hours
(Balabanis & Siamagka, 2017). Later another $20000 USG was gathered from the Indiegogo
campaign in favour of the company.
Slater, who possessed a PhD in Physics worked with the cofounders to develop a pair of
headphones which is destined to provide the best hearing experience to the person who is
wearing them. This was considered as a USP for the product and in fact Park (2016), states that
after review ratings from the TechReady, TechAdvisor, and Pocket-Link and so on, the people
began to believe in the science behind Nuraphone that it could really adjust to the frequency
compatibility of the people’s ears.
2.2 Competitive Advantage
The Nura Company considers that although the big electronic gadget brands like Bose,
AKG, Sony and so on have recently developed highly qualified Bluetooth headphones, hey two
big market hype created by the company can win the competition in their favour. The first factor,
as per Pérez-Belis, Bovea & Ibáñez-Forés (2015), is that the product was launched by fund
allocation from their own crowd funding website KickStarter and pledges worth $3.8million
have been gathered by the company.

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This crowd funding campaign have already attracted much more attention of buyers. Besides as
an outcome of crowd funding, the buyers would feel much more connected to the brand, both
psychologically and emotionally.
The second factor is the sensitivity towards minimum and maximum frequency adaptability of
individual’s ears.
Figure 1: The factors of Competitive advantage for Nuraphone
(Created by the author)
2.3 Market Position
In the month of August, a seminar dedicated to headphones was arranged in London. The
Nuraphone won the award for the best technological innovation with an ecological impact. At
present, the market of Nuraphone is developing at 2.7% per quarter. Sony and Sennheiser are
still the biggest names in the Australian market. In terms of product price and modulation
First Competitive
advantage
The crowd funding campaign have already attracted
much more attention of buyers. Besides as an outcome
of crowd funding, the buyers would feel much more
connected to the brand, both psychologically and
emotionally.
Second Crowd
Funding Factor
The second factor is the sensitivity towards minimum
and maximum frequency adaptability of individual’s
ears.

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quality, these two brands are upper in competition. A pair of Sony headphone are available in the
Australian market at the price of $350. The brand equity of Nura is also lower than these two. As
per the current table of brand fame, Nura is 17th among the most emerging brands in the Asian
market. However, it is also projected that the rate at which the brand familiarity of Nuraphone is
increasing in the Australia market in the upcoming 5 fiscal years, the sales rate of the product
would increase at 129% higher parity within 3 years (Nuraphone.com, 2018). Analysis of the
marketing strategies implementing the Ansoff Matrix: (refer to appendix 1)
2.4 Target Customers
The target customers for this industry is generally the youth aged between 16 to 35 years.
Electronic accessories and gadgets, according to the analysis of Lee et al. (2016), are mostly
popular among this customer segment. However, Bluetooth headphones are a style component
also. From that consideration, the customers of the leading metropolitan cities are mostly
targetable.
2.5 Product Specifications
The Nuraphone is a wireless head phone that is initially launched in the shades of black
with a closed back transducer input. The headphone also have the active noise cancellation
facility. The general Bluetooth range of the product is 10 metres like any other device. The
frequency range supported by the device is 20 Hz—20 kHz (Tansel, 2017). The driver size for
the inner ear is 15 mm and that for the outer ear is 40 mm. The most important prospect of the
headphone is that the total harmonic distortion is lesser than 1%. Finally the most important sales
driving factor is that the signal to noise ratio is less than 125 decibels.

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2.6 Market Distribution
The chief role of market distribution for Nuraphone is played in the Australia market by
the CertaOne as well as Madison Company. Since the Nuraphone is the only product of the
company, the sales channels are simplified. There is also a specialised market sales survey
section of the company. However, so far, the sales have been largely concentrated within zones
like Eastern Australia and South Eastern Australia. The company is trying to promote the sales of
the product in Western Australia through their crowd funding websites. So far as international
distribution channels are concerned, the company have a sales contract with Harvey Norman and
Alibaba (Yang, 2018). About 90% of the sales is accomplished through physical handovers and
rest over online sites.
So far as the market familiarity is concerned, the company have allocated major percentage of
the budget with the production line. The low budget trail makes it necessary for the company to
launch the product through third party vendors in international trade shows. For instance, the
product was recently featured over an online trade show in London. In 2019, the product is listed
to be featured over an online trade show in Dubai as well as in Australia itself.
2.7 Micro Environment Analysis
Strengths
 Product creativity with the advanced auto-acoustic emission control rate
 Innovative market launch through crowd funding
 Market familiarity rate is exceptionally high
Weaknesses
 The brand popularity is competitively low

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 The price is competitively high
 There is only a single design of the product
Opportunities
 The company dedicates all resources over a single market product
 The company have international collaboration with Alibaba which can effectively boost
the international market demand of the company and the product in future
Threats
 Market inflation in recent years would lead to reduction in purchasing parity of the
Nuraphone
 Limited product diversification
 Limited customer base owing to high price

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2.8 Production Capacity
The production capacity of the company is low owing to a very less start-up capital. The lack of
potential investors is a major cause behind the initial lack of capital. The company have come up
with an innovative concept based product and Parajuly, Habib & Liu (2017), suggests that such
products generally takes more than 3 fiscal years to gain 100% market familiarity considering the
size of the Australia market.
Strengths
Product creativity with the
advanced auto-acoustic emission
control rate
Innovative market launch
through crowd funding
Market familiarity rate is
exceptionally high
Opportunities
The company dedicates all
resources over a single market
product
The company have international
collaboration with Alibaba which
can effectively boost the
international market demand of
the company and the product in
future
Weaknesses
The brand popularity is
competitively low
The price is competitively high
There is only a single design of
the product
Threats
Market inflation in recent years
would lead to reduction in
purchasing parity of the
Nuraphone
Limited product diversification
Limited customer base owing to
high price

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2.9 Staff Resources/ Expertise
The company was started with initially 89 people. The Research and Development is
handled by the CEO who have patents like US 9,497,530, US 9,794,672 and the WO2017040327
(Neto, Bloemhof & Corbett, 2016). However, at present there are 1130 staff in the entire
company. The marketing and sales channels of the company are still weak, since the company is
still in the phase of a market innovation.
2.10 Financial Capacity
The company started commercial mass production of the Bluetooth headphone with
crowd funding worth $4 million USD approximately (Nuraphone.com, 2018). The online sales
and physical sales have increased the revenue stream with only 5 to 6% equity returns
(Robinson, 2016). Still, the company invests 70% of revenue return over unit sale on R&D and
promotions. Hence annual revenue generation of the company is still confined to $ 60000 USD.
2.11 Porter’s Value Chain
1. Inbound Logistics
The in house warehouse strength of the company is of 8000 units, considering receiving storing
and distributing.
2. Operations
 28 stores across Australia
 Inline sakes over the Crowd funding portals

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3. Outbound Logistics
The outbound logistics supply of the product in Australia is relatively high and its stands at
30000 units per year (Pasternak et al. 2017). The activities are all handled by CertaOne as well as
Madison Company.
4. Marketing and Sales
So far the company have published 8 promotional videos over YouTube and in 2019, they have
the plan to release a TV commercial featuring a sports celebrity in Australia.
3.0 Export Market, Research, Screening & Selection
3.1 Export Market analysis
The company is primarily targeting to expand sales in UK and the Middle East within
2020. The yearly export volume is supposed to be 3000 units for UK and 11000 units for Middle
East countries. In UK, the online brand promotional video have been highly popular which
reflects that brand familiarity have been achieved to quite an extent in the country. Besides, there
have not been the presence of any alternative electronic accessories brand in UK for last 3 years
Middle East is an open and high grossing market for any start up product (Ozturk, Joiner &
Cavusgil, 2015). In case if any company have proper export channels, sales parity can be easily
achieved in the market.
3.2 Competitive Situation
3.2.1 UK market
 High market competition from Sony

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 Average product price higher than other products
3.2.2. Middle East
 The sales channels are lean
 Middleman-ship cost is high
3.3 Outline of plans for dealing with restrictions of Entry into Market:
Refer to appendix 2
3.4 Regional Trade Agreements
Refer to appendix 3
3.5 PESTLE analysis
Political
 The Brexit regulations of UK
 High rate of corporate tax (30% in Middle East) (Kruesi, Kim & Hemmington, 2017).
Economical
 Export of smaller number of units which in turn raises the operational costs
Social
 High rate of social acceptance
Technological
 Unique technological innovation of auto-acoustic emission controller
Environmental
 Reduces harm to ears and made of bio-degradable plastic

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Legal
 Huge market entry regulations for Middle East
4.0 Marketing Strategy and Marketing mix
4.1 SMART Sales and Financial Export Objectives
The financial export objectives of the product Nuraphone is to make a good amount of
profit by selling the headphones to the various provinces across the country at a reasonable price
that could be afforded by the customers. This will be important for the SMART sales of the
product across the country (Armstrong et al., 2015).
4.2 Product Suitability and product adaptation
The product is much suitable for the customers. It is because the magnetic protective case
of the Nuraphone will match the needs of the customers for the protection of the ears of the
customers. The products could be adapted by the customers at an affordable price in the best
ways (Fifield, 2012).
4.3 Language- issues/ solutions
There might be some issues regarding the use of the language over some of the states in
the country. The dialectical problems would have to be overcome in this course as well. It is
because there are many people who come to the country from different continents like Asia and
Europe. The language problems could be solved by the help of the interpreters and the Google
Translator application software (Ferrell & Hartline, 2012).

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4.4 Labelling
The labelling and packaging of the product should be done in the best ways since the
product has many good pints to be selected by the customers. The product makers can seal and
label this product in the air tight packages since this will be quite helpful for protecting the
several parts of the product.
4.5 Point of purchase/ market coverage
The point of purchase can be the various online shopping stores like the Amazon and
others. The offers on these products will lead the customers to buy them. Thus the product will
be much accessible to the customers (Baker, 2014). The product can cover a wide market since
the customers will be largely attracted to this.
4.6 Export pricing and costs
The export cost for this product will be around $450 USD. This will be affordable for the
foreign customers. Thus the company will be largely benefitted by the profits made from the
costs.
4.7 Promotional campaigns
The promotional campaigns can be done through the online social media platforms. The
company can choose to feature their products through the several online platforms like
Facebook, instagram, Twitter and others (Ferrell & Hartline, 2012). This will surely help the
customers in the best ways since they will get to buy the product after given several options.
4.8 IMC plan
The several communication channels like the technological mediums will cater to the
development of the IMC plan of the product Nuraphone. However, the customers can be

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connected through the messages and emails by the product makers. The messages should be
clear and the company should connect with the customers on a regular basis.
4.9 Endorsers
The several music artists can work as the endorsers for this product Nuraphone.
4.10 Exporter/ Importer responsibilities
The exporters should be responsible for the proper shipment of the products. Both the
exporters and the importers should be able to look after the fact if all the products are being
delivered to the destinations safely and without any manufacturing defects.
5.0 Incoterms
5.1 Term choice
One of the major incoterms that can be used by Nura headphones is Cost and Freight
(CFR). This refers to the process of payment of carriage up to the port of destination by the
seller. However, the responsibility of the seller will end after the goods get loaded on the ship.
Thus, the risk of the seller gets stopped by the time the goods get loaded in the vessel (Bergami,
2013). It is recommended due to the fact that Nura headphones will have less risks and
responsibilities attached with the export of their goods and they will also not have to pay for the
insurance.
5.2 Responsibility of the buyers and sellers
Another recommended incoterm is Delivery Duty Paid (DDP). This is recommended due
to the reason that under this incoterm, Nura headphones will have to take the responsibility up to
delivering the goods to the place of destination. In this case, seller is having all the

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responsibilities and buyer is not having any (Chung & Lee, 2013). It will help Nura headphones
to deliver their goods in proper manner to the destination place without delegating the
responsibility to the buyers. The probability of having right goods with right conditions is more
with this incoterm.
6.0 Logistics Management
6.1 Organization’s Supply chain mix
The supply chain mix of the organization can depend upon several factors. There are
indeed many risks in this process that are concerned with the logistics delivery of the product. It
can be assumed that the product will be shipped for the online delivery across the states and
delivered to the customers within the given time (Christopher, 2016). The warehousing of the
products could be done properly and the condition of the product should be diagnosed properly.
The customer service should be prompt and the product should reach the customer through
proper transportation.
6.2 Transportation mode and carriers
The product can be transported to the various places since the customers will order it
from various parts of the country. The air mode and road freight modes would be the best options
for the transportation of the products (Christopher, 2016). The cost of the transportation should
be fixed at a level that the shipping price of the product should not go too high. The airplanes and
trucks should be used for the transportation process indeed.

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6.3 Cost composition and timing
The products should reach the customers within two days after ordering it. The shipping
price of the products should not be more than $30 USD. This amount of money can be afforded
by the customers indeed. However, the sea transportation is less preferred because it will
consume much time and it will be much costly as well.
6.4 Roles, responsibilities and services of chosen freight agents
The freight agents can be considered as the exporters as well. The freight agents should
always take care of the manufacturing safety of the products (Morana, 2013). All costs should be
paid to the product makers. The customs formalities should be done in the most perfect manner.
The commercial invoice copies should be supplied to the customers in the best ways (Mangan et
al., 2016).
6.5 Cargo insurance
The cargo insurance should be one of the most important issues for the safe transport of
all the good in the best ways. The goods should be kept safe throughout the days of the journey.
The safety measures should be kept before the products arrive to the distributor groups. The risk
transfers should be kep as the records (Govindan & Cheng, 2015). These are the issues that have
been recorded and the solutions should be found for it. If the sales contract is somewhat violated
this should lead to the expense of the distributor. Thus it will be due to the discrepancies being
caused (Mangan et al., 2016).
6.6 Terms of delivery
The terms of delivery should FOB or free on borad. However, the Incoterm delivery
should be processed in this context as well (Govindan & Cheng, 2015). The products should be

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delivered properly as well. The goods or products should contain all the legal documents. This
will be helpful for the exporters. The delivery boy should give his signature on the documents as
well. This will surely validate the action of delivery thoroughly.
Smart Objectives
Specific – Selling to the prople throughout Australia
Measureable – The proper data of the retailers will display the sales growth
Achievable – By 23rd March 2019, achieve 5% of the Australian electronic market share.
Relevant – Increase the awareness about the product quality and benefits
TimeBound – A 8 month time frame to prepare the strategies properly in accordance to the
desires of the customers.
7.0 Trade documentation
7.1 Bill of landing
The bill of landing is related to the shipping carrier, its agent and the contract of carriage
or goods (Papageorgiou, 2017). In this regard, it can be argued that the receipt of cargo is
accepted for transportation and must be presented for taking delivery at the destination.
7.2 Commercial invoice
It is a legal document that create a relationship between the supplier and the customer.
The commercial invoice is entitled to make a legal documentation between the supplier and the

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customer (Alavi, 2017). It is used in case of the main documents used by customs in determining
customs duties.
7.3 Package list
The package list is comprised with the details of the product and its destination address
so that it will be beneficial for the companies to get the entire details of the product details from
the package list (Bishop, J., & Cassidy, 2017).
7.4 Government certificate
The government certificate is related to the clean cheat given by the respective
government so that the product is able to get sold in the respective market. In this regard, it can
be argued that the government certificate is a pivotal certificate that determines the future of the
product whether it is able to do business in the respective country or not (Manalo, Perera & Rees,
2015).
7.5 Health and dangerous goods certificate
As a matter of fact, in most of the countries the products requires a health and dangerous
goods certificates that enable the customs to get the type of product. Besides this, it is also
important for the product to such kind of certificates in order to demonstrate that whether the
product is healthy or having adverse characteristics (Saha & Zhang, 2016).
8.0 Export risks and legal considerations
8.1 legal risks
There are some legal risks in response to this. For Nuraphone, it has to keep in mind the
legal constraints of the Australian government. The legal requirement are as follows,

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Consumer satisfaction
According to Australian Consumer Law (ACL) it can be argued that the
unsolicited consumer agreements and unsolicited supplies are condemned. Therefore,
putting emphasis on the consumer satisfaction is very important (Consumerlaw.gov.au.,
2016).
Description of the goods
The Australian Consumer Law also ventilates its measures regarding the unfair business
practices in terms of the deceptive conduct and making fake description of the descriptions of
the goods. False and misleading representations are not permitted in the eye of the Australian
Consumer law (accc.gov.au., 2018).
Legal compliance
It is important for the Nuraphone to maintain the legal compliances associated with
the quality and service of the products. As per the Consumer Protection regulators and the
Consumer Guarantees Act 1993 it becomes important for the Nuraphone to respect the legal
compliance (Smallbusiness.wa.gov.au, 2018).
Sellers responsibilities
The Trade Practice act of 1974 make some provisions for both the sellers and the agents
in order to serve the interests of both. Henceforth, the Nuraphone is obliged to take necessary
steps to make a transparent business relation with the agents (Consumerlaw.gov.au, 2016).
Advertisement
As per the Australian Competition and Consumer Commission (ACCC) it can be stated
that the role of the business organisations is to foster honest advertising practice in order to

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facilitate good business environment (accc.gov.au, 2018). It incorporates the prohibition of
false and misleading statements regarding the product and the companies are compelled to
take responsibilities in order to ensure the content of their social media pages are accurate
and authentic.
Unfair terms
Product safety and warning notice is also mandatory for Nuraphone in order to do
business effectively and unaffectedly because the Australian Competition and Consumer
Commission (ACCC) follows strict regulations to foster better environment
(Smallbusiness.wa.gov.au, 2018).
8.2 Contract terms
As per the terms and conditions of the Australian legislation it can be argued that the
small and medium scale business organisations must follow some rules and regulatory
guidelines. In this context, the contracts can be verbal or written or a combination of both. The
written contracts may consist of a standard form of agreement or a letter confirming the
agreement (Smallbusiness.wa.gov.au, 2018).
8.3 IP protection
In this regard, the IP protection is considered to be one of the major aspect on which the
Nuraphone has to keep focus extensively. It is related to the safety and security of the company
and essential to get safeguarded.
8.4 Insurance
Insurance is another aspect on which the Nuraphone has to emphasis. It is obvious for the
small and medium scale organisations like Nuraphone to make an insurance of the valuable

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products of the company so that in case of crisis the company can get financial aid from the
respective bank or banks.
8.5 Others
There are other risks in terms of the workplace health and safety and the workplace
discrimination (safeworkaustralia.gov.au., 2018). In this regard, the role of the Australian
government is to amend some regulations so that those risks can be mitigated. Moreover, it is
also essential to get acknowledged with the environmental safety measures that is an escalating
trend in Australia.
9.0 Financial export transactions and obtaining payment
9.1 Finance requirements
In the Australian market exporting new product is related to the expanding of profit and
checking the financial conditions of an importing company. Therefore, inflation rate can be
considered as important aspect on which the Nuraphone can rely (Papageorgiou, 2017).

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Australian Inflation Rate
(Tradingeconomics.com, 2018)
The Australian consumer price has an increasing trend from 1.9% in the previous two
periods to 2.1% in the quarter of June (Tradingeconomics.com, 2018). As a matter of fact, the
consumer price went up to 0.4% (Saha & Zhang, 2016). Based on this understanding it can be
argued that the country is suffering with some serious threats related to the increasing inflation
rate (Manalo, Perera & Rees, 2015). However, the rate of growth is quite sustainable but it is
important to restrain the growth for healthy future business environment (Bishop & Cassidy,
2017).
9.2 Payment options
Credit payment and bill of exchange are the prevalent practice that Nuraphone follows. In
this regard, it can be advocated that the credit payment option is more suitable and better than the
bill of exchange as far as Nuraphone is concerned.
9.3 Currency decision and management
The currency exchange rate of the US dollars in Australia is not so pricy and it will
remain the same in the upcoming 4 to 5 years. Therefore, in case of the currency decisions
Nuraphone has no such threat. Moreover, in the Australian market the US dollars are also
prevalent so the currency decisions are more relaxed in compare to other countries.
10. Conclusion
In a conclusion, it can be asserted that the report rightly projects all the possible aspects
regarding the market occupation of Nuraphone. There are a number of issues though in terms of

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the high inflation rate and being a medium scale company. The market competitiveness is so
high in the country. However, it can be argued that there are still opportunities for Nuraphone to
expand its market due to its unique product specifications and marketing strategy.

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Appendices
Appendix 1: Ansoff Matrix
MARKET PENETRATION:
 Crowd funded product launch
 The patent for auto acoustic
emission
PRODUCT DEVELOPMENT:
Nuraphone, launched initially at $399
USD, which is the only phone that is
sensible to the adaptive frequency of every
individual’s ear
MARKET DEVELOPMENT: Launched
all over Australia and has won positive
reviews from many tech-reviewing
agencies.
DIVERSIFICATION: Already
experiencing foreign market demand
PRODUCT
MARKET
EXISTING
NEWEXISTING

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Appendix 2: Market entry barriers
Appendix 3: Trade Agreement
1. Effective Date
The effective date of this Trading Partner Agreement is 01-10-2020
2. Parties
This Trading Partner Agreement (hereinafter the "Agreement") is entered into by and between:
____________________________(Nura Inc), a company incorporated in ____________________
_____________________________ (Australia) and organised and existing under the laws of
NEW

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__________________________________________ (UK), having its principal place of business at
________________________________________ __________________________________ (11, Loudon Street,
Manchester)
(hereinafter “_______________________”, or Party),
and
____________________________(Nura Products), a company incorporated in ____________________
_____________________________ (Australia) and organised and existing under the laws of
___________________________________________ (UK), having its principal place of business at
________________________________________ __________________________________ (19 Wellesby Garden,
Perth)
(hereinafter “_______________________”, or Party).
Hereinafter collectively referred to as the Parties.