Nordic Packaging Manufacturer Develops Comprehensive China Entry Strategy
The client, a Nordic technical laminate and protective packaging manufacturer was looking for a comprehensive market entry strategy in China in order to utilize their existing plant in China for supplying the domestic market.
Asia Perspective assisted the client with a project divided into multiple phases. First, conducting an in-depth research on the Chinese consumer packaging market, the construction material market and on other related markets to gather essential insights.
Market analyzes were conducted and specific segments were identified in order to implement the market entry smoothly and efficiently.
Finally, a detailed market entry strategy plan was developed with selected market segments, specific pathways, and internal optimization plans.
The client, an international leading Nordic manufacturer of technical laminates and protective packaging, sees China as a thriving territory and already has a factory up and running in Changshu.
However, the client has limited local knowledge and the overall performance remained underachieved. They needed a suitable and sustainable strategy to facilitate the development not only in the Chinese market but also the entire Asian market.
In order to acquire critical insights from the currently targeted markets and explore the possibility of other untapped markets, Asia perspective was hired to conduct integrated market research and build up a comprehensive strategic plan to materialize the great opportunities found in the research.
The project was initiated by a kick-off meeting between the Asia Perspective team and the client, which covered the timeline, focus areas and expected outcome of the project. During the process, Asia Perspective held biweekly project review meetings with the client in order to ensure the timeliness of the communication and the deliverables of the result.
The necessary date set was collectively built up by the follow methods:
- Desktop research on various industry research websites and corresponding databases, governmental websites, secondary industry reports;
- Interviews with industry experts and internal employees;
- Field research in several supermarkets in Shanghai, -related to the dairy foods packaging industry
The data were analyzed and summarized in the report in order to cover the following parts:
- Overview of the consumer packaging market, featuring growth trend and segmentation;
- New trends and actions from main players in market segments worth considering;
- Value chain of the focused market with key stakeholder profiles;
- Analysis from a political standpoint on each targeted market to evaluate the opportunity
- Regional structure building proposal
Asia Perspective recommended the client to choose logistics, direct consumer packaging and other applicable industries as targeted market.
In addition, an internal organization optimization proposal was added into the whole strategy, involving sales force structure, sale process adjustment and intel sharing within the group.
The consultants also recommended to take advantage of current production in Changshu factory to avoid extra investment on equipment from the headquarter in Finland.
Besides the market-defining and structural optimization, the team pointed out the rising trend of green building concept in China and made a specific pathway to capture the opportunity. The team also built up a detailed action plan and a key stakeholder list to establish a cooperative relationship with the current players in the construction material market.
Based on the provided information in the market research report and the strategic action plan, the client decided to follow the outlined recommendations by Asia Perspective.
The client started to arrange its internal meetings to discuss the priority of all potential markets. And for the very area of construction, the client has already started the outreach to the main players in the construction material market and industrial association, seeking for joining forces.