In the following, an in-depth analysis of the suitability of entering the Danish and Finnish markets will be exemplified. In so doing, first the company OKINLAB GmbH will be presented. After that, the countries Denmark and Finland will be investigated in regard to the above-mentioned aspects. In the penultimate chapter, a SWOT-analysis will be elaborated for both Denmark and Finland. Derived from the SWOT-analysis, possible scenarios for an internationalization will be presented. Finally, this elaboration will be completed by a conclusion.
Imagine a shopping experience in which you see, feel and live the piece of furniture you would desperately like to buy. And as if this wasn't enough, the fancied product does even match perfectly the structural peculiarities of your house, flat or room. And now think again, this whole new level is far from unreal, in fact such a model does already exist in a similar way and will be under constant development and adaptation as time goes by. The German enterprise OKINLAB GmbH (form.bar) does provide customized solutions when it comes to pieces of furniture of nearly all types. After successful operations within the German market, the firm aims to target a foreign market in Northern Europe.
Being mostly driven by consumer spending, the furniture market is under continuous growth. Steady increases in disposable income and a high level of living conditions cause the market to maintain its strength. Related to this is therefore a constant demand for furniture. Challenges and opportunities though pose the new way of shopping and the change of consumer behaviour. Especially seen in relation with a relentless technological evolution that redefines human life, future challenges have to be observed from a totally new perspective.
Table of Contents
1 Introduction
2 Company presentation OKINLAB GmbH
2.1 History of the company
2.2 Form.bar - product and customer
2.3 Status quo of internationalization
3 Country portrait: Denmark
3.1 Market characteristics
3.2 Customers
3.3 Competitors
3.4 Distribution channels
4 Country portrait: Finland
4.1 Market characteristics
4.2 Customers
4.3 Competitors
4.4 Distribution channels
5 Recommendations for an intended internationalization
5.1 SWOT-analysis Denmark
5.2 SWOT-analysis Finland
5.3 Possible scenarios for an internationalization
6 Conclusion
Objectives and Topics
The primary objective of this work is to analyze the feasibility and potential of expanding the business operations of OKINLAB GmbH (form.bar) into the Danish and Finnish markets, considering market characteristics, consumer behavior, and competitive environments.
- Analysis of market characteristics and consumer demographics in Denmark and Finland.
- Evaluation of the competitive landscape and major furniture retailers in both countries.
- Assessment of current e-commerce trends and distribution channels.
- Development of SWOT-analyses for both target markets.
- Recommendation of potential scenarios for successful internationalization.
Excerpt from the Book
2.2 Form.bar - product and customer
People need freedom to be able to develop. And that is exactly what they want to make possible. Because an individually adapted environment not only saves increasingly scarce living space, but also provides each person with more living space and thus more quality of life. With form.bar, people can design their own furniture for the first time and adapt it to individual ergonomics. The mathematical form optimization and the consideration of the manufacturing specifications already during the configuration process enable the automated production by means of CNC milling at the carpenter's nearby and thus unique pieces in master quality at affordable prices.
Freely formable furniture, self-designed, mathematically optimized and thus harmonious and efficient in terms of function and form. Furniture can now be individually shaped and adapted to special needs and conditions. This also saves a large part of the material used in conventional furniture production by using material only where it is needed. The intelligent software automatically creates the optimized cutting pattern for the carpenter, who can then manufacture the individual furniture to measure in a cost-effective manner. We pass this price advantage on to our customers: furniture made to measure by the carpenter is thus affordable for almost everyone. In the Digital Manufacture, completely individual furniture is manufactured using the latest technology and lovingly finished by hand. The intelligent, patent-pending process and the high quality standard make form.bar shelves not only personally tailored unique specimens but also material-efficient and sustainable furniture.
Summary of Chapters
1 Introduction: This chapter provides an overview of the motivation for the internationalization of OKINLAB GmbH and outlines the research objective regarding the Danish and Finnish markets.
2 Company presentation OKINLAB GmbH: This section details the history, business model, and the product philosophy of form.bar, as well as the current status of the firm's international operations.
3 Country portrait: Denmark: An in-depth analysis of the Danish market, focusing on specific market characteristics, customer behavior, key competitors, and prevailing distribution channels.
4 Country portrait: Finland: This chapter mirrors the analysis for Finland, evaluating its market environment, customer profiles, competitive situation, and digital distribution infrastructure.
5 Recommendations for an intended internationalization: This part presents detailed SWOT-analyses for both target countries and derives potential expansion scenarios based on the gathered findings.
6 Conclusion: The final chapter synthesizes the findings and provides a concluding recommendation on the feasibility and strategic direction for expanding into the Nordic markets.
Keywords
OKINLAB GmbH, form.bar, internationalization, furniture market, Denmark, Finland, e-commerce, SWOT-analysis, consumer behavior, market expansion, digital manufacturing, customized furniture, Nordic markets, competitive landscape, sustainability.
Frequently Asked Questions
What is the core purpose of this research paper?
The paper aims to analyze and evaluate the potential for OKINLAB GmbH to expand its form.bar business into the Danish and Finnish furniture markets.
What are the primary areas covered in the analysis?
The study covers company presentation, market characteristics of Denmark and Finland, customer demographics, competitive analysis, and strategic recommendations.
What is the ultimate goal of the internationalization strategy?
The goal is to determine if entering these specific foreign markets is a promising strategic step based on market opportunities and the company's business portfolio.
Which scientific methodology is applied?
The study utilizes a descriptive and analytical approach, incorporating SWOT-analysis to evaluate internal strengths/weaknesses and external opportunities/threats in the target markets.
What does the main body focus on?
The main body focuses on providing detailed country portraits of Denmark and Finland, including an assessment of their e-commerce sectors, cultural aspects, and current furniture trends.
Which keywords characterize this work?
Key terms include internationalization, furniture market, Denmark, Finland, SWOT-analysis, consumer behavior, and customized furniture.
Why are Denmark and Finland specifically targeted?
The company seeks to venture into Scandinavian countries to broaden its international scope, aligning with the "Uppsala model" of incremental expansion into geographically and culturally close regions.
What are the identified competitive challenges?
The report identifies a mix of small online designer shops, large retail chains like IKEA and BoConcept, and local carpenters as the main competitive forces in the Nordic regions.
What is the conclusion regarding the expansion?
The analysis concludes that an internationalization into both markets is generally promising, though entry into Denmark appears slightly more favorable regarding business ease and market metrics.
- Arbeit zitieren
- Anonym (Autor:in), 2020, Expansion possibilities of a furniture start-up for Denmark and Finland, München, GRIN Verlag, https://www.grin.com/document/539281
