Internationalising to Japanese Market – Case Company X
Auerto, Salla (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024052314783
https://urn.fi/URN:NBN:fi:amk-2024052314783
Tiivistelmä
This thesis investigates the Japanese market to develop an internationalisation plan for a Finnish jewellery company, Company X, aiming to enter Japan. The commissioning company is planning a market launch in Japan. The objective of this research is to provide information and recommendations for this venture, as well as to create a playbook on internationalising to Japan. The playbook will offer market information and tools to support the company with its market entry.
Japan, as the fourth biggest jewellery market in the world, presents appealing opportunities for jewellery companies. Its stability during global uncertainties makes it an attractive destination for foreign businesses. The Finnish jewellery company sees promising prospects in the Japanese market, also due to the local appreciation for Scandinavian design and a high willingness to pay for one’s appearance, such as beaty and fashion.
Diving into the of business strategy, this thesis combines theoretical insights with practical exploration. Through interviews with experts from private and public sectors, it investigates key aspects of internationalisation, focusing on entry mode selection and sales channel strategies tailored to the Japanese market. The thesis also examines Japan’s cultural challenges and market-specific considerations, emphasising the importance of understanding Japan's unique business environment and consumer behaviour. Insights on this topic are gathered also from the group interview held in Japan. This research follows a research-based development process, addressing practical business problems and providing usable solutions through interaction with multiple sources. The thesis integrates a theoretical framework with empirical study, using qualitative semi-structured interviews to gain insights into Finnish businesses' internationalisation into Japan.
By leveraging Ansoff's framework, the research identifies drivers for growth and proposes a market entry choice along with supplying a playbook aligned with Company X's objectives. The thesis highlights direct export via e-commerce as a promising entry mode, capitalising on Japan's digital transformation and the potential for direct customer engagement. Furthermore, the anticipated market disruption is expected to result in a redistribution of market shares thus creating opportunities for newcomers. By embracing digitalisation and direct communication with customers, Company X can navigate the Japanese market's complexities and capitalise on emerging opportunities as well as leverage their socially responsible legacy and unique designs to drive success in Japan's competitive market.
Recommendations include ongoing market analysis, digital presence building, and organisational commitment to internationalisation. Reflecting on the research journey, the study underscores the need for continuous learning and active networking in the dynamic landscape of international business.
Japan, as the fourth biggest jewellery market in the world, presents appealing opportunities for jewellery companies. Its stability during global uncertainties makes it an attractive destination for foreign businesses. The Finnish jewellery company sees promising prospects in the Japanese market, also due to the local appreciation for Scandinavian design and a high willingness to pay for one’s appearance, such as beaty and fashion.
Diving into the of business strategy, this thesis combines theoretical insights with practical exploration. Through interviews with experts from private and public sectors, it investigates key aspects of internationalisation, focusing on entry mode selection and sales channel strategies tailored to the Japanese market. The thesis also examines Japan’s cultural challenges and market-specific considerations, emphasising the importance of understanding Japan's unique business environment and consumer behaviour. Insights on this topic are gathered also from the group interview held in Japan. This research follows a research-based development process, addressing practical business problems and providing usable solutions through interaction with multiple sources. The thesis integrates a theoretical framework with empirical study, using qualitative semi-structured interviews to gain insights into Finnish businesses' internationalisation into Japan.
By leveraging Ansoff's framework, the research identifies drivers for growth and proposes a market entry choice along with supplying a playbook aligned with Company X's objectives. The thesis highlights direct export via e-commerce as a promising entry mode, capitalising on Japan's digital transformation and the potential for direct customer engagement. Furthermore, the anticipated market disruption is expected to result in a redistribution of market shares thus creating opportunities for newcomers. By embracing digitalisation and direct communication with customers, Company X can navigate the Japanese market's complexities and capitalise on emerging opportunities as well as leverage their socially responsible legacy and unique designs to drive success in Japan's competitive market.
Recommendations include ongoing market analysis, digital presence building, and organisational commitment to internationalisation. Reflecting on the research journey, the study underscores the need for continuous learning and active networking in the dynamic landscape of international business.