The topic of this paper is to outline an internationalisation strategy and give a consultancy report for the start-up CYCL Indive Ltd. CYCL Indive Ltd is a UK-based, privately held start-up founded in 2014 and specialised in cycling accessories, whereas the WingLights indicator lights embody the company’s primary answer to counteract the omnipresent threat of bicycle accidents in congested urban areas. Designed as a shockproof, waterproof, easy to install solution with a long battery life, the device is supposed to increase the cyclists’ visibility on the road regardless of the angle, lighting or weather conditions.
In the light of received accolades such as placements on the lucrative DTI Sirius initiative and the start-up incubator programme of the University of London for the iterative improvement of the original concept until the current third version of WingLights, CYCL has steadily sharpened its corporate vision towards an internationalisation approach.
Obviously, an expansion of a start-up’s commercial scope to that extent is subject to a thorough analysis of a variety of promising, yet heterogeneous target markets, whose legal and economic framework might result in a substantial adaptation of the product to the local marginal conditions. Examples of these actions include measures of compliance to the prevalent industrial norms, auxiliary formalities regarding the status of the patents, trademarks and designs before the official release, etc.In the first chapter, CYCL’s general offer and the characteristics of the WingLights are scrutinised with the help of the value proposition canvas in order to clarify and justify the existence of potential customer segments, which might have been ignored by the start-up in the past. Following this examination, an appropriate route of internationalisation is drafted, leading to Germany as the near-shore object of investigation in this case. Afterwards, the focus in the second section shifts towards the financial support available within the German target market and the specifics of other accessible channels including the engagement of the entire EU and its member states. Moreover, practical suggestions are addressed in terms of networking opportunities for which CYCL might opt in order to promote both its middle-term development and long-term internationalisation activities.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Basic contemplations: The targeting
- The identification of an untouched customer segment
- The modified value proposition
- Acknowledgement of Germany as a suitable foreign market
- Laying the groundwork for the market entry
- Available support on the part of the target country as well as of the supranational EU
- Ancillary processes in support of networking in Germany in the near and distant future
- Conclusion: Prospective risks and obstacles hampering the given internationalisation approach
- References
- Appendix
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This report analyzes the internationalization strategy of CYCL Indive Ltd., a UK-based startup, focusing on expanding its market into Germany. The objective is to evaluate the feasibility of this expansion by examining the target market, available support structures, and potential risks.
- Identifying an untapped customer segment for WingLights.
- Assessing the suitability of the German market for WingLights.
- Evaluating available support mechanisms within Germany and the EU.
- Analyzing potential risks and obstacles associated with market entry.
- Developing strategies for networking and market penetration in Germany.
Zusammenfassung der Kapitel (Chapter Summaries)
Introduction: This introductory section provides background information on CYCL Indive Ltd., a UK startup producing WingLights, cycling indicator lights designed to enhance cyclist visibility and safety. It highlights the product's success in the UK market, exceeding 16,000 units sold in its first year. The company's ambition to expand internationally is introduced, emphasizing the need for thorough market analysis and adaptation to local conditions. The report's structure and focus on the German market are then outlined.
Basic contemplations: The targeting: This chapter uses the value proposition canvas to analyze CYCL's offerings and identify potential customer segments. It focuses on cyclists in metropolitan areas who experience challenges with visibility and safety in heavy traffic. The analysis explores customer pains and gains, highlighting how WingLights address these issues. The chapter ultimately justifies the selection of Germany as a suitable target market for internationalization.
Laying the groundwork for the market entry: This section shifts the focus to the practical aspects of market entry into Germany. It examines the financial and logistical support available through German governmental agencies and EU programs. It also discusses networking opportunities, crucial for building relationships with distributors and other stakeholders within the German market to facilitate both short-term and long-term growth.
Schlüsselwörter (Keywords)
International entrepreneurship, market entry, Germany, cycling safety, WingLights, value proposition canvas, customer segmentation, EU support, internationalization strategy, risk assessment, networking.
CYCL Indive Ltd. Internationalization Strategy: Germany Market Entry - FAQ
What is the main topic of this report?
This report analyzes the internationalization strategy of CYCL Indive Ltd., a UK-based startup, focusing on its expansion into the German market with its product, WingLights (cycling indicator lights).
What are the key objectives of the report?
The report aims to evaluate the feasibility of CYCL Indive Ltd.'s expansion into Germany by examining the target market, available support structures, potential risks, and developing strategies for market penetration.
What are the key themes explored in the report?
Key themes include identifying an untapped customer segment, assessing the suitability of the German market, evaluating available support mechanisms (both German and EU), analyzing potential risks and obstacles, and developing networking strategies.
What is the product being considered for international expansion?
The product is WingLights, cycling indicator lights designed to enhance cyclist visibility and safety. The product has already achieved significant success in the UK market.
What is the chosen target market for expansion?
The target market is Germany. The report justifies this choice by analyzing the potential customer segment and the suitability of the German market for WingLights.
How does the report analyze the target market?
The report uses the value proposition canvas to analyze CYCL's offerings and identify potential customer segments. It focuses on cyclists in metropolitan areas who experience visibility and safety challenges in heavy traffic.
What support structures are considered in the report?
The report examines financial and logistical support available through German governmental agencies and EU programs. It also discusses networking opportunities for building relationships with distributors and other stakeholders.
What are the potential risks and obstacles discussed?
The report concludes by identifying and analyzing prospective risks and obstacles that could hinder the internationalization approach.
What is the structure of the report?
The report includes an introduction, a section on target market analysis, a section on market entry groundwork (including support structures), a conclusion highlighting risks and obstacles, references, and an appendix.
What are the key takeaways from the chapter summaries?
The introduction provides background information on CYCL Indive Ltd. and WingLights. The targeting chapter analyzes the customer segment and justifies the German market choice. The market entry chapter focuses on available support and networking strategies.
What keywords are associated with this report?
International entrepreneurship, market entry, Germany, cycling safety, WingLights, value proposition canvas, customer segmentation, EU support, internationalization strategy, risk assessment, networking.
- Quote paper
- Axel Capalbo (Author), 2018, A Consultancy Report. Design of an Internationalisation Strategy for CYCL Indive Ltd. and Its Key Product, Munich, GRIN Verlag, https://www.grin.com/document/1010173
