Preparation is key to enter a new market

Future Mobility in Scandinavia
May 31, 2019

Preparation is key to enter a new market

Know your target market

It’s important to identify your target market and find out how your potential customers behave in Scandinavia. You need to know where and how they purchase in order to choose the best distribution channel to supply their demand. The dynamics of the Scandinavian markets may be different from what you have experience before in your export. Any additional information that you can find about regulations or consumer preferences will therefore help you adjust your offering accordingly to tap into the local demand.

 

Know your position in the market

The Scandinavian markets are mature to the point that it’s important to analyze the competition and develop a localized market entry strategy in order to position your product in the markets in the best possible way. Whether you intend to compete as a price leader or on the quality of your products, choosing a suitable distribution channel and consider adjusting your USP or pricing may be necessary to find a competitive advantage against the local competition.

 

Know where to find a suitable partner

The small difference between a failed entry and a successful one may result in your choice of local distribution partner in Scandinavia. Your odds to succeed increase with a solid list of suitable partners to engage with, rather than putting faith in one or two companies that you meet at a trade fair. There is a vast number of potential partners in the Scandinavian markets, but it may be a time-consuming and difficult process to identify a good selection that match your specific requirements if you are not familiar with the local languages.

 

Know your target audience

It can sometimes be difficult to break through the noise and connect with your audience in today’s information overload. The domestic companies get approached constantly by hopeful suppliers who desire to enter the Scandinavian markets with their products and solutions. It’s important to take into account any cultural differences and how to best convey your USP to a local audience to maximize your chances of getting a foot in the door and be considered in the first place.

 

These are just some of the areas where we can assist exporting companies with our local know-how.  Contact us to find out what specific opportunities exist for your company in Sweden, Norway and Denmark.

 

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