Virginia Economic Development Partnership
Four Companies Win Governor's International Marketing Award
-- Students Across Virginia Gain Practical Experience Through Marketing Program --
Richmond - Four Virginia corporations received the prestigious Governor's Award for Excellence for their participation in the Virginia Economic Development Partnership's International Market Planning (IMP) Program. Virginia Secretary of Commerce and Trade Robert T. Skunda presented the awards to the companies and their partnering students and professors today at a luncheon held in Richmond at the Downtown Club.
Each year, the IMP Program teams approximately 30 groups of graduate business students from Virginia's colleges and universities with companies in the state interested in expanding their exports. These students, supervised by experienced professors, assist the company in developing an international market plan. These teams present their plans in writing and through an oral presentation to the company's top management.
"Through the IMP program, students receive real-world training, while companies heighten their understanding of how to produce profitable exports," said Secretary Skunda. "I congratulate everyone involved in this year's IMP program, as Virginians continue to work together to increase export activity."
Below is a brief summary of the winning companies, their partnering schools, and a description of their accomplishments:
Computerized Imaging Reference System, Inc., Norfolk and The College of William & Mary for determining that Japan is the best possible market for the company's scanning system that measures bone mineral density to detect the presence of osteoporosis. The company is now working with Virginia's Japanese Export Trade Organization (JETRO) representative and will participate in appropriate trade shows.
Ingersoll-Rand, Rock Drill Division, Roanoke and Virginia Tech for analyzing the construction and equipment mining market in Brazil and recommending how the company can increase sales of its rock drilling, pavement breaker and jack hammer product lines.
Nuline Industries, Inc., Fredericksburg, and Virginia Commonwealth University for determining that the markets in Australia, China, Hong Kong, Mexico, Portugal and Singapore are appropriate targets for the company's corrugated roofing product.
Graham-White Manufacturing Company, Salem and Radford University for analyzing the markets in Japan, China and South Korea for the company's locomotive pneumatic system components.
According to Carl Nasca, business unit manager of Ingersoll Rand, the IMP program has served as a valuable tool for his company as well as the knowledgeable students who worked on the plan. "The International Market Plan prepared by our team of students was very useful," said Nasca. "We have already used this study in developing and implementing our sales strategy for our target market."
The selection of the awards was made from projects undertaken during the Fall of 1995 and Spring of 1996 semesters. Both Ingersoll-Rand and Nuline Industries have hired students from their IMP teams to work directly with export initiatives. The IMP program has served over 300 projects since it originated in 1988.
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