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dc.contributor.authorNagdasova, Nina
dc.contributor.authorLuo, Jiawei
dc.date.accessioned2021-04-27T19:02:06Z
dc.date.available2021-04-27T19:02:06Z
dc.date.issued2018
dc.identifier.urihttp://hdl.handle.net/20.500.12127/6887
dc.description.abstractNiko Group is the market leader in Belgium for electrical solutions and services and is well known for the excellent quality of its products. Mainly known as a B2B player, Niko has set the goals to grow the business and expand into the European mass market. In order to do so, the company is going to launch a new home automation product - "Niko Home Control for All", consisting of universal smart switching equipment designed to work with existing in-house wiring, being able to integrate with different IOT systems and serve as one integrated point of remote control. Therefore, the main challenge is: how to bring Nick Home Control for All into the European mass market. To tackle the challenge, the project team broke it down into two main parts to make this international go-to-market strategy a success. The first part is to identify potential most beneficial markets for the introduction and international expansion of "Niko Home Control for All" and formulate a feasible and relevant entry and expansion strategy. The second part is to define the right go-to-market strategy to win the markets, which includes formulating the competitive product value proposition, designing new channel strategy and identifying the required organizational changes to adapt to the new strategies. Various research methods were used in the project. A market attractiveness assessment model was used to assess the markets potential, the in-depth market analysis enabled the team to narrow down the country list and formulate a feasible strategic launch plan. Furthermore, a Belgium-based market research was conducted. Both primary research methods, including focus groups, online survey and personal interviews, and secondary research were used to complete the Belgium market research. The following in-depth analyses were executed: customer concerns and needs analysis, market trends research and competitor analysis. The findings resulted into valuable inputs to formulate the new relevant product value proposition. The findings resulted into valuable inputs to formulate the new relevant value proposition for the product. Entering mass markets, which is the target market for the Niko product, requires from the company to take more control over end customers and retailer channels. A new channel strategy was proposed after the profound research of sales value chain. The given by the project team recommendations require from the company some organizational changes in order to adapt this new international go-to-market strategy. The proposed changes are aimed to increase flexibility, feasibility and overall benefits of the proposed new strategy. Out of 38 European countries, four countries - Belgium, Netherlands, United Kingdom and Germany were selected for the first and second stages of product launch. At least 6-month break period for localization and adaptation of entry strategies is recommended between the two stages. Belgium and Netherlands were selected as the pilot markets due to the high market familiarity and large network. The pilot markets will help to test the product and ensure enough time for launching the product in other new markets. Germany and United Kingdom were selected for the second stage with recommendations to give to these countries very high strategic focus, due to the outstanding market potential. Based on the performance, other potential countries, like Denmark and Sweden, were chosen to enter in the later stage. Conducted customer research enabled the project team to identify the most potential customer segment - "enthusiastic home-birds". This segment shows high interest in home automation product and high willingness to purchase. The key values for this segment are energy saving, home security, product evolution to keep it up-to-date, and peace of mind. Combing the insights from customer research, competitor analysis, market trends research and business strategy, the team formulated the new value proposition: Self-installable Home Control is designed to provide efficient energy management, reliable home security, and bring peace of mind in your daily life. The customer research also showed customer preferences regarding market channels, including electronics stores, DIY chains and online shops. Electronics retail chains, like Mediamarkt and Vanden Borre, are the most popular channel for the product. However, to push the product into mass markets, a new channel strategy was identified. This strategy includes direct approach to retail partners and use of outsource companies for packaging and logistics. In the end, organizational changes were proposed to ensure execution of this international go-to-market strategy. Therefore, the new team structure will be needed, including adding new roles, such as controlling planner, local trade marketing manager, local service support representative, etc. Besides that, upgrade of current positions from local to international level is recommended, for example product manager shall be upgraded into international product manager. Additionally, internal B2C trainings will ensure that the company's employees can better and faster adapt themselves to the new business.
dc.language.isoen
dc.titleInternational go-to-market strategy for home automation product
dc.source.numberofpages175
vlerick.knowledgedomainMarketing & Sales
vlerick.supervisorTackx, Koen
dc.identifier.vperid107025
vlerick.companynameNiko Group
vlerick.companysupervisorLousberg, Danny
vlerick.programmeM3
vlerick.typebusresprojectIn-Company Project


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