Market entry to United States for woodworking hobbyist product
Jolkkonen, Aleksi (2018)
Jolkkonen, Aleksi
Tampereen ammattikorkeakoulu
2018
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201805168581
https://urn.fi/URN:NBN:fi:amk-201805168581
Tiivistelmä
The commissioner is a small print media company Atterossi Graphic Arts, whose founder invented a new product for the woodworking hobbyist community. The inventor required assistance for foreign market entry into the United States as they had no experience of these activities. The focus of the thesis was to develop a market entry plan from Finland to the United States for the small company’s new product.
The purpose of this thesis is to develop an actionable market entry plan for the new product by researching United States macroenvironment, selecting best market entry mode, provide marketing strategy and marketing mix to formulate actionable market entry plan.
The research was gathered from secondary sources, both quantitative and qualitative data to provide detailed macroenvironment analysis of United States. Political, economic, sociocultural, technological, ecological and legal factors were studied. This macroenvironment analysis was then used as foundation for direct exporting as the selected market entry mode. Limited marketing strategy and marketing mix were formulated based on the macroenvironment and market entry mode. All factors were concluded to formulate market entry plan for direct exporting mode to provide omnichannel selling distribution opportunity for the commissioner.
The end result of the thesis is the market entry plan with direct exporting as select-ed entry mode to provide actionable steps for the commissioner to follow. The plan provides a practical approach for successful market entry as no barriers were found for either Finland exporting or the United States importing as the product does not belong to any restricted international trade product categories. The customs processing is minimal as the product price is expected to fall under $800 and be delivered via international postal services that are cleared without formal entry through US customs.
The final market entry plan was supported with marketing strategy focusing on differentiation and marketing activities via digital channels. The market entry plan resulted to have the company open own online store for the US customers, and open omnichannel selling for Amazon and eBay online platforms. The setup for these platforms was very straightforward and had no barriers.
The purpose of this thesis is to develop an actionable market entry plan for the new product by researching United States macroenvironment, selecting best market entry mode, provide marketing strategy and marketing mix to formulate actionable market entry plan.
The research was gathered from secondary sources, both quantitative and qualitative data to provide detailed macroenvironment analysis of United States. Political, economic, sociocultural, technological, ecological and legal factors were studied. This macroenvironment analysis was then used as foundation for direct exporting as the selected market entry mode. Limited marketing strategy and marketing mix were formulated based on the macroenvironment and market entry mode. All factors were concluded to formulate market entry plan for direct exporting mode to provide omnichannel selling distribution opportunity for the commissioner.
The end result of the thesis is the market entry plan with direct exporting as select-ed entry mode to provide actionable steps for the commissioner to follow. The plan provides a practical approach for successful market entry as no barriers were found for either Finland exporting or the United States importing as the product does not belong to any restricted international trade product categories. The customs processing is minimal as the product price is expected to fall under $800 and be delivered via international postal services that are cleared without formal entry through US customs.
The final market entry plan was supported with marketing strategy focusing on differentiation and marketing activities via digital channels. The market entry plan resulted to have the company open own online store for the US customers, and open omnichannel selling for Amazon and eBay online platforms. The setup for these platforms was very straightforward and had no barriers.