Entering Russian market : case Watman Engineering Ltd. Oy
Tarabtsev, Mikhail (2022)
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2022061518010
https://urn.fi/URN:NBN:fi:amk-2022061518010
Tiivistelmä
Entering a new market is a challenging endeavour that every company must undertake in a rapidly developing world to reinforce their success. Russian market, even in spite of unstable political situation and economical challenges remains attractive for a lot of companies around the world due to sheer size of it and enormous amount of assets circulating in it. This is especially true for the neighbouring countries, such as Finland, as it allows to alleviate for some logistical challenges. Russian market can offer immense business opportunities, but only if the company is competently prepared and understands the necessary course of action.
This research was commissioned by Watman Engineering Ltd. Oy, a mediumsized company from Lahti, Finland, specialising in water-treatment equipment. The goal of the research was to administer a market research, collect and analyse the data and provide a company with options on market entry as well, as a list of potential customers.
This is a qualitative research, utilising the most relevant and newest sources available on the Internet, as well as highly acclaimed literature sources. Empirical part of the research was conducted by analysing the data provided by the commissioner as well as interacting with target market.
The results of the research made it obvious, that entering the water-treatment equipment market of Russian Federation market is quite challenging, mainly due to significantly lower prices, however, Watman has a few advantages to the domestic companies, such as higher quality of equipment, customer perception as well as technological know-how. Both suggested entry modes are discussed in the Conclusion chapter of the research. It is worth mentioning however, that this paper does not account for economical instability caused by Russia’s invasion of Ukraine, and this is also mentioned in the final chapter of the research.
This research was commissioned by Watman Engineering Ltd. Oy, a mediumsized company from Lahti, Finland, specialising in water-treatment equipment. The goal of the research was to administer a market research, collect and analyse the data and provide a company with options on market entry as well, as a list of potential customers.
This is a qualitative research, utilising the most relevant and newest sources available on the Internet, as well as highly acclaimed literature sources. Empirical part of the research was conducted by analysing the data provided by the commissioner as well as interacting with target market.
The results of the research made it obvious, that entering the water-treatment equipment market of Russian Federation market is quite challenging, mainly due to significantly lower prices, however, Watman has a few advantages to the domestic companies, such as higher quality of equipment, customer perception as well as technological know-how. Both suggested entry modes are discussed in the Conclusion chapter of the research. It is worth mentioning however, that this paper does not account for economical instability caused by Russia’s invasion of Ukraine, and this is also mentioned in the final chapter of the research.