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Thesis Moods of Norway.Pdf Mats Klevengen Haugom Sindre Raaen Throne Sebastian Myrseth Linda-Marie Løvoll Bachelor of International Marketing Pace University – Lubin School of Business - Moods of Norway – NY Market Entry - Submission date 05.14.2012 This paper is done as a part of the undergraduate program at BI Norwegian Business School. This does not entail that BI Norwegian Business School has cleared the methods applies, the results presented, or the conclusions drawn. Bachelor of International Marketing 05.14.2012 Table of Contents EXECUTIVE SUMMARY ................................................................................................................ III 1.0 THESIS PURPOSE ...................................................................................................................... 1 2.0 NORWEGIAN CULTURE AND HERITAGE ................................................................................... 1 3.0 COMPANY BACKGROUND ........................................................................................................ 2 3.1 History ................................................................................................................................ 2 3.2 Current ............................................................................................................................... 5 3.3 Future Plans ....................................................................................................................... 7 4.0 BUSINESS OBJECTIVES ............................................................................................................. 9 4.1 Business Objectives – New York Introduction ................................................................... 9 4.2 Target Audience ............................................................................................................... 10 5.0 OPPORTUNITY ANALYSIS ....................................................................................................... 14 5.1 SWTO Analysis ................................................................................................................. 14 5.1.2 SWTO Implications ....................................................................................................... 15 5.3 EXTERNAL ANALYSIS ............................................................................................................ 17 5.2 Competitive Analysis ........................................................................................................ 17 5.3.1 Economic factors ........................................................................................................... 20 5.3.2 Social Factors ............................................................................................................... 21 5.3.3 Technological Factors .................................................................................................. 21 5.4 IMPLICATIONS ........................................................................................................................ 22 5.4.1 Competitor implications ................................................................................................ 22 5.4.2 Marketing implications ................................................................................................. 23 6.0 RESEARCH ............................................................................................................................. 23 6.1 Primary Research Objectives ........................................................................................... 23 6.2 Methodology..................................................................................................................... 24 6.3 Target Markets ................................................................................................................. 25 6.4 Interior Reactions ............................................................................................................ 27 6.4.1 Brand Difference ........................................................................................................... 28 6.4.2 Store Uniqueness ........................................................................................................... 28 6.5 Location ........................................................................................................................... 29 6.6 Clothing Reactions ........................................................................................................... 30 6.7 Positioning ....................................................................................................................... 30 7.0 NEW YORK CITY LAUNCH ..................................................................................................... 32 7.1 Location ........................................................................................................................... 32 7.2 Distribution ...................................................................................................................... 33 7.3 Merchandising ................................................................................................................. 34 7.3.1 Packaging - New York Moods of Norway Store ............................................................ 34 7.3.2 Display .......................................................................................................................... 35 Page i Bachelor of International Marketing 05.14.2012 7.3.3 Atmospherics ................................................................................................................. 36 4.3.4 Promotion...................................................................................................................... 36 7.4 Price Range ...................................................................................................................... 37 7.5 In-store Experience .......................................................................................................... 37 7.5.1 Personal Selling ............................................................................................................ 39 7.5.2 In-Store Promotion and Public Relations ..................................................................... 40 7.6. ADVERTISING & PROMOTION ................................................................................................ 42 7.6.1 Budget-Driven spending – Interactive, Digital and Social Media ................................ 42 7.6.2 Guerilla Marketing/Advertising .................................................................................... 45 7.7 Special Events .................................................................................................................. 45 7.7.1 Launch ........................................................................................................................... 47 7.7.2 Seasonal ........................................................................................................................ 48 8.0 ACTION PLAN ........................................................................................................................ 49 9.0 SUMMARY/CONCLUSION ....................................................................................................... 50 APPENDIX A ................................................................................................................................. 51 APPENDIX B ................................................................................................................................. 51 APPENDIX C ................................................................................................................................. 51 APPENDIX D ................................................................................................................................. 51 Page ii Bachelor of International Marketing 05.14.2012 Executive Summary Purpose The purpose of this document is to identify the key strategic and supplementary measures the Moods of Norway(MoN) management must take under consideration, to successfully penetrate the New York marketplace, more importantly stay there. Methodology In order to identify those areas of importance stated in the purpose, we looked at the several areas of importance such as the company´s history of expansion, identified business objectives for the New York launch, analyzed the internal and external environment including potential competition, conducted a research to gather information consumer behavior and reactions to brand stimuli, used this research in addition to information given to us by the management to plan for the New York launch, and at last we made recommendations for the preceding of the plan when entering this new marketplace. Company MoN is a Norwegian fashion and apparel brand that focus on making contemporary apparel and other merchandize inspired by the cultural and geographical characteristics of the brands country of origin, Norway. While looking at the company background, it is clear that the Norwegian culture permeates the entire organization. The company´s core competencies derive from the founder´s creative interpretation of the rural Norwegian heritage and their effort in translating that to fit the international urban society of 2012. Further, the company has had a rapid growth since it was established in 2002 and the internal analysis suggest that the company should be able to grow even more in the years to come. Page iii
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