Market entry strategy for cultural relic storage and protection equipment in Vietnam
Junyan, Chen (2025)
2025
All rights reserved. This publication is copyrighted. You may download, display and print it for Your own personal use. Commercial use is prohibited.
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2025120532809
https://urn.fi/URN:NBN:fi:amk-2025120532809
Tiivistelmä
This thesis formulates a market entry strategy for Hongrui Wenbo Group Co., Ltd., a well-known Chinese company specializing in the museum sector. Vietnam is identified as a promising target market. With the refined Uppsala Model, market entry modes, PESTLE, and SWOT analysis, the research evaluates the company’s internationalization potential and the Vietnamese market landscape.
The findings highlight Vietnam’s growing museum market, strong government support for cultural heritage, favourable policies, digital technology needs, and a modernization trend in the museum industry. The SWOT analysis also reveals Hongrui Wenbo's significant internal strengths. The company’s strong R&D, extensive project experience, and large production capacity are key advantages for this venture.
Based on a comprehensive assessment of opportunities, strengths, and risks, an export-based market entry strategy is identified as optimal. This low-risk approach starts with local distributors to test demand and build market knowledge. In the longer term, the plan recommends moving toward partnerships and joint ventures. Modernization and digitalization are key trends shaping the museum industry, offering the company more opportunities to enhance its competitive position.
In conclusion, Vietnam offers a favourable environment for Hongrui Wenbo's international expansion. A key limitation of the market research is its reliance on secondary data, which limits the depth of market insights. Subsequent studies should conduct primary research in Vietnam to validate and enhance the proposed entry strategy.
The findings highlight Vietnam’s growing museum market, strong government support for cultural heritage, favourable policies, digital technology needs, and a modernization trend in the museum industry. The SWOT analysis also reveals Hongrui Wenbo's significant internal strengths. The company’s strong R&D, extensive project experience, and large production capacity are key advantages for this venture.
Based on a comprehensive assessment of opportunities, strengths, and risks, an export-based market entry strategy is identified as optimal. This low-risk approach starts with local distributors to test demand and build market knowledge. In the longer term, the plan recommends moving toward partnerships and joint ventures. Modernization and digitalization are key trends shaping the museum industry, offering the company more opportunities to enhance its competitive position.
In conclusion, Vietnam offers a favourable environment for Hongrui Wenbo's international expansion. A key limitation of the market research is its reliance on secondary data, which limits the depth of market insights. Subsequent studies should conduct primary research in Vietnam to validate and enhance the proposed entry strategy.