SALES STRATEGIES

There are four ways to grow sales: Market Concentration Innovation Penetration Diversification

Market Concentration Every business has viable customers it has not yet nailed down, customers that also buy from other businesses, and customers it has lost. So there's great potential in finding ways to increase sales in existing markets. Here are a few ways to get customers to buy more: More frequent use Become a habit - change displays or special offers frequently, offer novelties or events, advertise that regular use reduces long-term problems Offer frequent-buyer rewards Improve convenience - longer hours, faster preparation, children's play area, book-ahead reservations, easy payment options for regular customers. Larger quantities Offer incentives for bulk purchases or combination buys Encourage stockpiling - package in larger-than-needed quantities or increase size of servings. New uses Invent different purposes - new ways to use your product, in the same way that baking soda is used as an odour-eater or soups are used to make sauces. Innovation You can find ideas for new products, features or related services from customers, employees and suppliers. The trick is to actively listen to what they say. Customer: "Can I put a down payment on this?" You: "Maybe I should offer a payment plan." Employee: "I'm so tired of people who call a lumber yard asking whether we build fences." You: "Maybe I should provide qualified tradesmen." Supplier: "We sure are selling a lot of Oriental sauces lately." You: "Maybe I should offer a Chinese fried rice dish on my menu."

Tactics for introducing new products within existing markets: Replacement products Change appearance - new colours, packaging or styling can re-energize a tired product line. Change message - focus on current trends to emphasize eco-consciousness, safety or multiculturalism. Change technology - go digital, introduce e-commerce, offer organic ingredients. Additional features Add optional extras - use the airline model and offer different levels of service, or use the kitchen product model and offer a dispenser or holder. Customize - personal service, individual consultation, non-standard orders. Use special occasions - holiday, celebration or special occasion versions of your product, such as Christmas editions, Heritage Day portraits or "election" burgers. Complementary items Offer accessories - stock add-on items of interest to customers who buy your product or service, such as designer fountain pens in bookstores. Completely new items Extend your brand - capitalize on goodwill by offering new items over your name Cross-sell - offer a wider menu of services either supplied by you under licence from others or supplied by others who pay a commission to you. Penetration If you have saturated your local market, the most obvious answer is to reach out to new buyers. The risk is that you move before you're profitable in your first market and cannot financially withstand the learning curve you will experience with new customers, or weather the new competition you will face. Some means of penetrating new markets: Segmentation Extend current segments - use market research to find new segments that could use your product: men/women, high-income/medium-income, car owners/boat owners. Re-focus current segments - find new uses or applications to capture new customers - as baby shampoo is also marketed as shampoo for sensitive skin. Geographic outreach Advertise - place ads in select media in new markets, preferably where little competition exists.

Go for catalog sales - band together with other producers of related products to publish a catalog and solicit mail-order sales. More locations Minimize overhead - open new stores, warehouses or factories, but centralize head office functions (buying, accounting, administration, personnel) at old location. Use temporary locations - if it makes sense, try kiosks or temporary office space first. Export Register with databases - Canadian and overseas databases list companies seeking new markets or suppliers for foreign markets. The Canadian Trade Commissioner's WIN Export database is a good place to start. You may also want to visit the Government of Canada's Strategis Web site, a valuable resource for businesses. Get expert assistance - use Canadian embassies and trade consuls in foreign markets. Large Canadian cities have federally funded International Trade Centres. Attend trade shows - quick exposure, easy planning and excellent targeting, plus current market information and immediate knowledge of local competition. Get financial aid - federal and provincial loan programs and other funding mechanisms. Check trade offices and Web sites like the Federal Government's Program for Export Market Development site for details. Pursue education and mentoring - many inexpensive programs exist for new exporters, such as the Business Development Bank of Canada NEXPRO mentoring program. Contact your nearest BDC office for details. Diversification The most radical and risky of sales growth strategies, especially for small businesses, because it requires new capital investment, new product development and a new business plan. It is attractive if it levels out seasonal or cyclical ups and downs, and it may provide relief from having all your eggs in one basket. Capacity analysis Consider off-season ideas for seasonal businesses. Find new uses for production facilities during off-hours. Find new applications for machinery, employees or warehouse space that are not fully utilized. Crossovers Find related industries or market segments with similar needs and characteristics an artistic metalwork maker may diversify into wrought iron fences.

FINANCIAL OBJECTIVES
1. Normalized return on equity of 24, 0%. 2. Normalized headline earnings per share growth to exceed domestic CPIX by 10 percentage points. 3. Credit loss ratio to be contained within 0, 75% of average advances. 4. Cost-to-income ratio to be at or better than 55, 5%. MEDIUM-TERM FINANCIAL OBJECTIVES 1. Normalized return on equity of 22, 5%. 2. Normalized headline earnings per share growth to exceed domestic CPIX by 10 percentage points. 3. Credit loss ratio to be contained within 1, 00% of average advances. 4. Cost-to-income ratio to reflect a continuous improvement over the medium term.

STRATEGIC OBJECTIVES
1. 2. 3. 4. 5. 6. Broadening Access of Financial Services Ensuring Soundness of the Financial Sector Maintaining Price Stability with Growth Exchange and Reserve Management Strengthening of Payment Systems To develop the Banks administrative and organizational structures and to prepare the platform for best practice corporate governance 7. To have an IT strategy that meets the challenges and requirements of both the bank and its clients 8. To enhance our corporate finance services 9. To maintain a prudent credit policy 10. To serve our clients by expanding the banks network of branches 11. To strengthen the existing system for dealing with debit cards and facilitate the incorporation of credit cards to enable the payment of salaries to all government employees 12. To play a key role in the development of Iraqs economy through commercial loans and the financing of major economic projects through syndicated loans; as well as through financing offered by export credit agencies for short, medium and long terms to cover purchases of capital goods 13. To continue establishing lines of credit with international banks and credit agencies to contribute to Iraqs prosperity 14. To raise the performance standards of the Iraqi banking sector and to continue working closely with private sector banks in Iraq to bolster their role in the Iraqi economy

MANAGEMENT STRATEGY

Human Resources Development Information Technology Development