THE ROLE OF CHAMPION PRODUCTS IN ENHANCING EXPORT PERFORMANCE: A PREDICTION FOR TANZANIA’S EXPORT POTENTIAL
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Abstract
Many countries including Tanzania strive to make export a primacy. However, competition in the global market is becoming severe hence necessitating countries to develop strategies to survive under such fierce trade war. One of the approaches to securing export competitiveness is country branding by developing export champion products. Based on the review of the success stories of champion products from a few selected countries, the study explores how champion products are developed and their possible impacts on export performance. The study reveals that behind every champion product development, there are stories about natural resources, people and/or their cultural heritages and should be difficult to copy. Moreover, the findings indicate that development of champion product requires consideration of its unique and appealing attributes for a particular foreign market niche. The paper concludes that export champion products play an indispensable role in promoting the country’s image and better export.
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References
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